#Core Banking Software Market Growth 2023

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According to Business Intelligence Insights “Core Banking Software Market" is expected to grow from USD 10.50 billion in 2021 to USD 28.05 billion by 2030, at a CAGR of 17.80% during the forecast period 2022-2030.

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Core Banking Software: Industry Dynamics, Major Companies Analysis and Forecast- 2030

Core Banking Software Industry Overview

The global core banking software market size was valued at USD 10.89 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030. The market growth can be attributed to the rising incorporation of technology to provide core banking operations and services. Digitized operations have enhanced banking service quality and reduced turnover times. Technological advancements have also enabled financial institutions to adapt to changing customer needs, a prominent example being the provision of omnichannel banking access.

Gather more insights about the market drivers, restrains and growth of the Core Banking Software Market

In addition to providing customers the ability to manage accounts remotely through online banking and mobile channels, core banking software has multiple other benefits. Core banking software solutions connect multiple branches to a centralized system making them interconnected and allowing for efficient search and comparison of data. Banks can leverage core banking software to analyze data and improve internal processes. Moreover, through transaction monitoring and screening, core banking solutions help detect and prevent money laundering.

The pace of technological innovation and adoption has gathered tremendous pace across sectors. Integrating the latest technologies, such as generative artificial intelligence in banking and financial activities, can help firms differentiate from the competition and gain a competitive edge. According to a study conducted by Accenture in March 2023, covering over 49,000 customers, 67% mentioned using branch services for very specific and complex problems that require physical presence. Moreover, the survey estimates that banks can boost revenue by up to 20% through better engagement with primary customers.

Core banking digitization can make banking transactions more effective. A unified system enables seamless access to customer information and reduces the need for redundant data entry, resulting in faster and more accurate transactions. Additionally, core banking systems support real-time processing, enable instant account and transaction updates, and faster payments and fund transfers. Furthermore, core banking software improves overall security features and fraud detection mechanisms, ensuring the safety of transactions and protecting customers from potential risks.

However, the complex nature of banking operations may pose some challenges. Several financial institutions are in the early phases of transitioning from legacy systems to digital solutions for better banking. However, the transition is bringing about privacy concerns associated with making the shift which plagues the growth of the market. However, core banking solution providers are innovating and providing customized solutions to meet the needs of banks and financial institutions.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• The global public relations tools market size was valued at USD 6.35 billion in 2023 and is expected to grow at a CAGR of 10.9% from 2024 to 2030. Public relations (PR) tools are used to connect with public organizations or institutions to build a positive connection between the organization and customers.

• The global AI in chemicals market size was estimated at USD 943.0 million in 2023 and is projected to grow at a CAGR of 27.8% from 2024 to 2030. The market is experiencing significant growth as the industry increasingly adopts advanced technologies to enhance efficiency and innovation.

Core Banking Software Market Segmentation

Grand View Research has segmented the global core banking software market based on solution, service, deployment, end-use, and region.

Core Banking Software Solution Outlook (Revenue, USD Million, 2017 - 2030) • Deposits • Loans • Enterprise Customer Solutions • Others

Core Banking Software Service Outlook (Revenue, USD Million, 2017 - 2030) • Professional Service • Managed Service

Core Banking Software Deployment Outlook (Revenue, USD Million, 2017 - 2030) • Cloud • On-premise

Core Banking Software End-use Outlook (Revenue, USD Million, 2017 - 2030) • Banks • Financial Institutions • Others

Core Banking Software Regional Outlook (Revenue, USD Million, 2017 - 2030) • North America o US o Canada • Europe o Germany o U.K. o France • Asia Pacific o China o India o Japan o Australia o South Korea • Latin America o Brazil o Mexico • Middle East & Africa o Kingdom of Saudi Arabia (KSA) o UAE o South Africa

Order a free sample PDF of the Core Banking Software Market Intelligence Study, published by Grand View Research.

Key Companies profiled: • Capgemini • Finastra • FIS • Fiserv, Inc. • HCL Technologies Limited • Infosys Limited • Jack Henry & Associates, Inc. • Oracle Corporation • Temenos Group • Unisys

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Voice And Speech Recognition Market Size To Reach USD 53.67 Billion By 2030

Voice And Speech Recognition Market Growth & Trends

The global voice and speech recognition market size is anticipated to reach USD 53.67 billion by 2030, registering a CAGR of 14.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is anticipated to witness an upsurge in the adoption of voice-activated systems, voice-enabled devices, and voice-enabled virtual assistant systems owing to the rising applications in the banking and automobile sectors. The escalating need to counter fraudulent activities and enhance security in the banking sector is boosting the adoption of voice biometrics for the authentication of users. The automobile sector is expected to gain momentum owing to advances in technology & emergence of innovative concepts, such as autonomous and connected cars.

The integration of the voice-activated software in future cars is anticipated to adopt technologies, such as noise abatement for selectively ignoring driving & passenger noises for providing an error-free and seamless experience to the operator. Voice recognition is also a core technology that is widely used in the healthcare sector to enhance the Electronic Health Record (HER) systems by providing an ease to the doctor to speak and keep the records instead of manual typing or writing. In 2018, the healthcare vertical held the largest market share and it is expected to grow significantly over the forecast period. AI-based voice and speech recognition software is expected to grow at the fastest CAGR from 2023 to 2030.

This is due to the continuous development of machine learning techniques and the integration of connected devices with personal assistants. For instance, Dragon Drive is a personal assistant developed by Nuance Communication Inc. that integrates various household appliances, cars, and smartphones that can be connected to a hub through the internet. Thus, an individual can get alerts about daily chores, work schedules, traffic updates, and many more alerts through the Dragon Drive. In addition, sentiment analysis using the changes in the pitch of the voice is anticipated to provide an opportunity to the market. However, the lack of accuracy of these technologies in recognizing the regional accents and dialects is expected to limit the market growth.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/voice-recognition-market

Voice And Speech Recognition Market Report Highlights

A rising trend in the development of Artificial Intelligence (AI)-based systems is expected to be the key factor driving the market growth over the forecast period

Leveraging deep learning algorithms in voice & speech solutions for better search results is expected to be the key factor for the growth of the AI-based technology segment

The deployment of speech recognition solutions in consumer and retail verticals is anticipated to lead to the high market growth

This can be attributed to the changing lifestyles in countries, such as the U.S., Germany, and the U.K.

Moreover, the growing adoption of smart electronics in India, China, Japan, and Brazil is likely to drive the market growth in the consumer vertical

North America and the Asia Pacific are anticipated to witness considerable growth owing to the presence of several U.S.- and China-based players, such as Apple, Inc., Facebook, Inc., Baidu, Inc., Amazon.com, Inc., and Alphabet, Inc., working toward the development of this technology

Key industry participants are focusing on integrating the AI technology in speech & voice recognition software to build superior products that would increase their user customer base

Voice And Speech Recognition Market Segmentation

Grand View Research has segmented the global voice and speech recognition market on the basis of function, technology, vertical, and region:

Voice & Speech Recognition Function Outlook (Revenue, USD Million, 2017 - 2030)

Voice Recognition

Speaker Identification

Speaker Verification

Speech Recognition

Automatic Speech Recognition

Text-to-Speech

Voice & Speech Recognition Technology Outlook (Revenue, USD Million, 2017 - 2030)

AI-based

Non-AI-based

Voice & Speech Recognition Vertical Outlook (Revenue, USD Million, 2017 - 2030)

Automotive

Enterprise

Consumer

BFSI

Government

Retail

Healthcare

Military

Legal

Education

Others

Voice & Speech Recognition Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

The Netherlands

Switzerland

Poland

Asia Pacific

China

Japan

India

South Korea

Singapore

Pakistan

Malaysia

Australia

Hong Kong

Vietnam

South America

Brazil

Argentina

Chile

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Nigeria

List of Key Players of Voice And Speech Recognition Market

Advanced Voice Recognition Systems, Inc.

Agnitio S.L.

Amazon.com, Inc.

Api.ai

Apple, Inc.

Anhui USTC iFlytek, Ltd.

Baidu, Inc.

BioTrust ID B.V.

CastleOS Software, LLC

Facebook, Inc.

Google, Inc.

International Business Machines Corp.

Microsoft Corp.

MModal, Inc.

Nortek Holdings, Inc.

Nuance Communications, Inc.

Raytheon Company

SemVox GmbH

Sensory, Inc.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/voice-recognition-market  

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Josh Dinneen, CEO of Blue Mantis – Interview Series

New Post has been published on https://thedigitalinsider.com/josh-dinneen-ceo-of-blue-mantis-interview-series/

Josh Dinneen, CEO of Blue Mantis – Interview Series

Josh Dinneen, CEO of Blue Mantis, is a seasoned leader dedicated to driving the company’s organic and M&A-fueled growth and continuously fostering innovation throughout the organization and its growing client base.

Formerly President of Blue Mantis, Josh spearheads efforts to enhance the company’s ongoing initiatives aimed at deepening client engagement and sustainability by delivering the optimal experience that produces measurable and positive business outcomes.  Josh’s mantra for success is simple but consistent: client sustainability fuels company growth, which in turn, drives continuous innovation.

Blue Mantis is a private-equity-backed national managed services provider focused on cloud, cybersecurity, AI and digital transformation.

Blue Mantis serves mid-market and enterprise organizations by helping them identify and implement enterprise software solutions from firms like AWS, Arctic Wolf, Acronis, Cisco, Dell, HPE, Microsoft, and many others.  Major customers include Cole Haan, the Jacksonville Jaguars, Liberty Mutual, Woodforest National Bank, and Boston Medical Center.

Can you share the journey of Blue Mantis from its inception to becoming a leading managed services provider in cloud, cybersecurity, AI, and digital transformation?

Blue Mantis has a 30+ year history of delivering innovative and proven technology solutions to mid-market and enterprise clients. We’ve been an integral part of their digital transformation journeys and, as your question suggests, we have also been on our own modernization journey, one marked by a dramatic expansion in the type of solutions we offer and the manner in which we help clients achieve positive business outcomes.

We have transformed from our roots as a small, regional reseller of hardware and software products to a national and now an international provider of next-generation services in what we call three core business “pillars” – cybersecurity, cloud and managed services.

As we have scaled our organization, we have also successfully attracted several new blue-chip executives to expand our leadership team. In doing so, we have strengthened our technical acumen, broadened our services offerings, refined our sales execution, and sharpened our go-to market strategies.  These key leaders include Chief Operating Officer (and former CISO and CIO) Jay Pasteris; Chief Services Officer Steven DeMaayer; Chief Revenue Officer Terry Richardson, and our Chief Marketing Officer, Sarah Foote.

As a provider of next-generation solutions, we have also expanded our consulting capabilities and we are increasingly serving as a strategic advisor for our clients, surveying the hyper-dynamic technology landscape and developing the blueprint to help clients harness these technologies to support their businesses and attain measurable and positive outcomes. We have also continuously broadened our portfolio of product bundles and services, which include cybersecurity and risk management, cloud, networking, data center modernization, modern workspace, carrier services, resource management and the ability to offer any of those solutions as managed services.

Formerly known as Green Pages until our new brand identity and name change were unveiled in July 2023, the name Blue Mantis signifies our role as a strategic advisor, one capable of leading our clients into the future. In fact, the word mantis literally means a “seer, a prophet and one who divines.” This really captures our mission and our ethos.

What are the key factors that contributed to Blue Mantis’ impressive growth rates in cybersecurity, cloud service practices, and managed services?

First, was our ability to remain keenly focused on the market opportunities we saw right in front of us. Second, was keeping our clients at the forefront of everything we do was critical. Third, we felt it was critical to undertake the transformation that has moved Blue Mantis from a gross profit, cost of goods sold model to a strategic services-led business aimed at driving business outcomes for clients. That dramatically changed the growth trajectory of Blue Mantis. To augment our organic growth, we also have made several acquisitions and added technical talent in these three key growth segments.  These investments have paid strong dividends; we have achieved a five-year growth rate of 405 percent for cybersecurity, 119 percent for cloud service practices and 495 percent for managed service. We have also increased our headcount by 127 percent during that time.

Can you elaborate on the dual role of AI at Blue Mantis, both internally for operational efficiencies and externally for client services?

We have gone all-in on GenAI for both internal and external uses. To be successful in AI, data management takes on heightened importance. We are continuing to invest in our data enablement capabilities at our foundation. As a Microsoft partner, we had early access to Copilot and are at the forefront of Managed Services Providers harnessing the power of AI for enterprise customers. This point has been validated by customers, partners, and market observers in the IT channel.

For our clients, we began offering Managed AI Copilot Solutions in Q2 2024, a customized turnkey offering powered by Microsoft. We seamlessly and securely integrate AI into clients’ existing Microsoft Cloud environments with executive education, strategic planning, and managed services. Our GTM is based on an Assess, Modernize, Manage framework. Through our consultative approach, we have helped customers identify high-value use cases for GenAI, identify and remediate security issues associated with their data estate, and modernize data processing in support of GenAI use cases. Internally, we are leveraging AI across many functions within Blue Mantis. Whether it’s Microsoft Copilot or another AI technology, we are seeing significant productivity improvements as more use cases are identified and people become familiar with the technology.

What are some specific AI-driven initiatives or projects that have had a significant impact on your clients?

We are still in the initial stages of this technology wave and many clients are still formulating their strategy relating to applied GenAI for their business. The market is clearly in the education phase as clients are looking at “the art of the possible” as they look to take advantage of this emerging technology. The most significant impact we’ve seen is on two fronts. First, as clients begin to explore their data assets, this has revealed the expansive scope and magnitude of their data estate and caused them to revisit their data governance processes and expose new threat vectors for data leakage and data loss. Many clients have been surprised to find out just how much data they have and who has access to it. Second, when clients invest the time and effort to train their staff, time-to-productivity is greatly enhanced. Establishing command and trust of this new technology is critical to driving the type of impact that clients expect to see from their GenAI investments. Naysayers and detractors have been converted to champions and advocates when given the right baseline and this has had a significant impact with clients as they roll out GenAI solutions.

How does Blue Mantis stay ahead of emerging threats and manage risk for its clients?

We are a security-first firm, and we consider security to be the bedrock of everything we architect, build and support. As a provider of managed services, we are relied upon heavily by clients to be their eyes and ears and their first line of defense against their adversaries – whether insider or external threats.  We stay ahead of these threats and help not only manage but reduce risk by offering a complete suite of cloud security, network and systems security and governance, risk and compliance solutions to meet all their needs. We put a high premium on security awareness training both internally and with clients to ensure we stay up to date on the latest vulnerabilities and attack methods. This involves threat intelligence feeds, security conferences, and industry best practice research. We also offer comprehensive security assessments to identify weaknesses in a client’s existing security posture. This helps them prioritize potential risks and implement solutions tailored to their environment, industry and budget. For many clients we provide managed security services and 24/7 monitoring through Managed Detection and Response (MDR) solutions through partners like Arctic Wolf, as well as guidance and implementation services to assist them on their Zero Trust journeys.

By combining these approaches, we provide clients with a comprehensive security strategy that adapts to the evolving threat landscape and increases their vigilance against cyberattacks.

Can you discuss any recent cybersecurity trends or challenges that mid-market and enterprise organizations should be aware of?

Whether we are talking about mid-market or enterprises, the organizations we are working with face many of the same challenges. At the top of the list is the need for better and more holistic data management and privacy assurance from a regulatory perspective. The new SEC mandate to disclose data breaches more quickly and transparently intensifies our client’s already complex environments.

Data resiliency is another major challenge for the midmarket. It is no longer good enough to be good enough. For the simple reason that again, regardless of size or vertical industry, our clients’ customer data is under continuous attack by an increasingly sophisticated universe of adversaries. Clients’ risk profiles are expanding, and defenses must become stronger, more vigilant and more sophisticated to ensure continuous protection.

Finally, despite the increased threats they face, many organizations are expected to “Do more with less.” This is where Blue Mantis has shined. We help clients who are grappling with these issues by delivering guidance and direction on how best to prioritize projects in the areas of cloud, cybersecurity and digital transformation. However, we have also expanded our capabilities and scale in the area of strategic resource management in cyber security as all as IT. We have expanded a comprehensive talent pool that allows Blue Mantis to seamlessly integrate resources into client teams, filling specific skill gaps and ensuring project success.

How does Blue Mantis guide clients through their cloud journey, and what are the key components of a successful cloud strategy?

Blue Mantis helps guide customers through their cloud journey with a pragmatic approach. We work closely with customers to understand the real drivers behind their cloud transformations and work together collaboratively to build a roadmap.

As with most transformation initiatives, moving to the cloud does not mean customers will have parity with their existing operations and this creates challenges within their firms. Whether it is a skillset gap, expertise needed, training, or capacity for work, we help our customers envision their future state and ensure they are supported in any way needed to be successful.

We have identified four primary insights about leveraging the cloud:

First, is alignment to the business.  Any cloud transformation needs to have clearly defined objectives. Without a clear demarcation for ‘what good looks like’ and the business outcomes defined, it is easy to get lost in your cloud journey.

Second, is understanding workloads and assessing their fit-for-use in cloud. .  We excel at framing the decision points for our customers and providing insights into what we’ve seen work and not work.  It is very common for us to see a hybrid approach to cloud, especially for legacy applications.  Many applications were not built for the cloud and they are not cloud ready. Deciding how much to invest in order to make them fit in a cloud environment can be very challenging (and potentially not worth the investment).

Third, prioritizing migration is critical.  As with any transformation initiative, it is important to see some early wins.  For business-critical applications and infrastructure, nothing will kill your cloud transformation faster than large, long running, projects that do not return some value back to the business.  We seek to avoid this situation and work together with clients to find balance.

Finally, as clients migrate to the cloud they will need to put some type of governance process in place.  This can be very challenging for any organization that is experimenting with new technology, while trying to run their business.  Customers will need to manage their costs (as that’s something that can get out of control quickly, if you are not prepared), make sure the costs are effectively communicated to their business stakeholders, and ultimately optimize that spend over time.  Following this blueprint and making some good choices has made many of our customers successful in their cloud journey.

What differentiates Blue Mantis’ managed services from other providers in the market?

Again, I would go back to the point made earlier about reinvention. What separates Blue Mantis from the many technology solution providers in the market is that many have failed to reinvent themselves. We have had a clear vision and a focused strategy that has been embraced by a terrific, talented and loyal base of employees who remain committed to the mission. We have not tried to grow too big too fast or to take on more than we could successfully manage. And that is a temptation, believe me.  Our steadfast devotion to resilience and ability to adapt and change is massive based on the market we are in. I am extremely proud and appreciative of the talented people we have grown and retained here at Blue Mantis and the new leaders and team members we have successfully added. This has been huge in helping us grow, diversify and differentiate. They have embraced change, been flexible and continue to drive our clients into the future. Clients tell us repeatedly – “this makes you stand out.”

What are the latest trends in data center modernization, and how is Blue Mantis preparing its clients for future opportunities?

The data center industry is truly witnessing a transformative era marked by the incredibly rapid and broad adoption of Generative Artificial Intelligence (GenAI). This technology, which includes advanced models like GPT-4, is reshaping the landscape of data processing and management. We are working closely with CIOS, CISOs and even CEOs within our client base to help them fully understand the implications of this seismic shift. As important, we are preparing existing data center resources – whether those are on-prem, in a private or public cloud or consumed in a hybrid model. Blue Mantis partners with all the major data center hardware providers to ensure your modernization solution is future-proof and energy-efficient. We can also optimize for cost by integrating the services of our FinOps team, which has been proven to reduce our customers’ annual cloud costs by 30% or more.

Can you provide insights into how Blue Mantis approaches complex networking challenges for its clients?

We solve complex networking challenges for clients through several key strategies:

Blue Mantis partners with clients to understand their business goals and communication needs, ensuring that the network infrastructure supports these objectives effectively.

We offer customized solutions to meet the specific needs of each client, considering factors like their size, industry, and exact network requirements.

We apply advanced technologies including software-defined networking (SDN), network function virtualization (NFV), and advanced network monitoring tools.

Clients’ networking initiatives are supported through our team of highly skilled networking experts who have extensive experience in dealing with complex network environments. This team can diagnose and resolve intricate network issues efficiently.

We are not a point solutions provider; we offer comprehensive end-to-end services that address everything from network design and implementation to ongoing management and optimization.

We apply proactive monitoring and maintenance to every client engagement to continuously track network performance and identify potential issues before they become critical problems. We conduct regular maintenance and updates to ensure network reliability.

By combining best of breed and emergent technology, we ensure our customers are fully aware of the options they have.  Combining a consultative approach, highly skilled specialists, and a portfolio of market leading partners we are able to deliver the right solution at the right time.

By combining these approaches, Blue Mantis effectively addresses the complex networking challenges faced by its clients, ensuring secure, efficient, and reliable network performance.

Thank you for the great interview, readers who wish to learn more should visit Blue Mantis.

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IT Services Market - Forecast(2024 - 2030)

IT Services Industry Overview

Global IT Services Market size is expected to reach $1,852.65 billion by 2031, growing at a CAGR of 9.5% during 2024-2031. In 2023, Deployment of IT for network management have become the best practices to bring and automate all business operations into a single and simple solution.  The growing popularity of cloud based software and rising concern to automate business processes are continuously increasing the demand for IT services worldwide. The cloud based IT services is experiencing rapid growth among SMEs since 2022 and is expected to capture more than 80% market share by 2025. Similarly, the emerging big data technology and rising number of connected devices across enterprises are increasing the demand for IT service management and information security management platform.

Report Coverage

The IT services market report: “IT Services Industry Outlook– Forecast (2024-2031)”, by IndustryARC, covers an in-depth analysis of the following segments of the IT Services Market.

By Service Type: Professional Services (System Integration (Application Integration, Application Development, Application Testing, Application Lifecycle Management). Infrastructure Integration (Data Center, Security, Mobility, Network and Others), Training and Education, Consulting), Managed Services (Managed Security, Managed Data Center, Managed Network, Managed Mobility, Others), Telecom Services

By Business Function: Finance and Accounting, Human Resources, Sales and Marketing, Supply Chain Management, Operations and Support, Manufacturing

By Organization Size: SME, Large Enterprises

By Deployment Type: Cloud, On Premises

By End User Industry: Banking, Financial Services, and Insurance, Media and Entertainment, Government and Defense, Communication and Technology, Consumer Goods and Retail, Healthcare, Others

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Key Takeaways

• North America dominates the IT services market owing to rising preferences of companies to avail cloud based services.

• The rising penetration IoT based devices and large volume of data generation in enterprises are creating new opportunity for IT services market.

• Cloud based IT services is expected to accelerate the IT services market at a faster pace due to low cost deployment.

• Lack of standardization would lead end users to spend in IT services with uncertain ROI, which may inhibit the IT services industry growth.

IT Services Market Segment Analysis - By End User Type

IT Infrastructure services market is likely to increase at a CAGR of 9.76% during 2024-2031. Most of the companies, these days are facing challenges in maintaining their IT infrastructure functioning and cost. Hence, there are rising number of vendors tapping into this market to provide managed IT services. Similarly, managed Infrastructure are gaining popularity, as it help companies to focus only on their core business activities. The emerging technologies such as big data has also fuelled the growth of IT Infrastructure Services Market. Big Data Market is expected to reach approximately $318 billion by 2025. Similarly, with the growing volume of data, enterprise’s IT infrastructure need to ensure the most stable information security management so as to protect the enterprise data from hackers.  This requirement further accelerate the IT services market from IT infrastructure service application.

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IT Services Market Segment Analysis - By Deployment Type

The cloud based IT services is gaining popularity owing to low cost of deployment. Similarly, with the cloud based IT services, scale up and scale down of businesses can be achieved easily. Thus, cloud based IT services is considered to be the most effective deployment platform by many small and medium sized enterprises in recent time. Cloud based IT Services is expected to grow at a CAGR of 9.98% during 2024-2031. In 2022, approximately 87% of companies worldwide were using some form of cloud based services, out of which 20% companies are likely to choose 100% cloud based services in next 5 years. It is also expected that by 2025, 72% enterprise software will be fully cloud based.

IT Services Market Segment Analysis - By Geography

In 2023, North America dominated the IT services market with a market share of more than 35.23%, followed by APAC and Europe.  The growing adoption of cloud based IT services is driving the IT services market in this region. North America accounts for majority of the cloud traffic globally. According to the Cisco Global Cloud Index, the cloud traffic in the region is poised to grow at a CAGR of 14% during 2024-2031 and will account for nearly 54% of the global traffic by 2025. Similarly, the rising adoption of hosted and managed services is accelerating the demand for cloud based IT services in the region. In 2023, approximately 75% of businesses are using some form of managed services in North America Region, making the region highly potential for IT services market.

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IT Services Market Drivers

• Rising demand for cloud based IT services

Since 2020, most of the industries and enterprises are replacing their on premise software with cloud based software. The cloud based software provides access to entire enterprise applications at an affordable price without any substantial upfront expenditure in software and hardware.  Similarly, the adoption of cloud computing enable enterprises to scale up and scale down their businesses more conveniently. Hence, cloud based IT services is becoming a more useful and cost effective solution for SMEs in recent time. In addition to this, cloud based computing offer new business capabilities and opportunities for the SMEs. As per major IT service providers, cloud based IT services can reduce the cost of IT deployment by approximately 45%-50%. Many startups are investing into this technology looking at the future opportunities and hence, end users are now finding a large number of options to choose their vendors. 

• Emerging big data technology

The volume of data consumption have increased significantly in the wake high speed internet connection, rising industrial automation, and increasing penetration of mobile devices. This rise in data volume are creating enormous opportunity for IT service management. Similarly, with the increase in data volumes, Colocation data center are experiencing high demand. The companies in this sector are increasingly digitizing their operations and services, resulting in their increased dependence on IT Services. Process and manufacturing industries are taking the path of industrial IoT to improve operational efficiencies, which will result in generation of large amount of data and have a positive impact on IT Services market. The Industrial IoT market is expected to reach $100 billion by 2025 growing at CAGR of 18.56% during 2023-2025. Thus, with the evolving big data concept in enterprises and businesses, the IT services market is likely to find opportunity during the forecast period.

IT Services Market Challenges

• Lack of standardization

The success of IT services in businesses depends on multiple factors and is often varied with the companies. Similarly, each business is unique and hence use specific technologies to meet the particular business solution. Thus, due to lack of standardization, it is difficult for businesses to estimate the viability of IT services based on the success factor of same technology in other company.   A typical IT service deployment may cost between $75 to $300 per users. Thus, lack of ineffective IT services may cost a huge financial burden for the enterprises.

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Market Landscape

The IT services market share held by top 5 players were estimated approximately   29.7% in 2023. Acquisition, partnership, and Service differentiation are the key strategies adopted by most of the companies in this market.  IT services top 10 companies include:

Accenture PLC

Capgemini

Cognizant Technology Solutions Corporation

Oracle Corporation

Fujitsu

HCL Technologies Limited

Hewlett Packard Enterprise

Tata Consultancy Services

IBM Corporation

Infosys. 

Acquisitions/Technology Launches

• In December 2023, Analytics cloud platform Alteryx is going private. It’s agreed to be acquired by Clearlake Capital and Insight Partners in a deal valued at $4.4 billion. 

• In December 2023, IT outsourcer Cognizant snapped up Thirdera, a ServiceNow partner based in Colorado, and added almost 1,000 employees to its workforce of almost 350,000.

• In November 2023, Accenture completed its acquisition of Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations across multiple industries

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Maximizing Business Efficiency: The Benefits of Hiring Remote Developers 

In the current dynamic digital environment, business operations are swiftly transforming, with remote hiring emerging as a pivotal element of contemporary workforce strategies. A study conducted by Stanford University reveals that companies implementing remote work policies can achieve a productivity boost of up to 13%. This blog is dedicated to exploring the advantages of employing dedicated developers and how this approach can drastically improve your business efficiency. 

By accessing a global talent pool, lowering operational expenses, and promoting innovation, embracing remote work can revolutionize your organization. Continue reading to uncover powerful data and insights that will change your perspective on hiring and productivity. 

Businesses That Can Benefit from Hiring Remote Developers 

Remote developers bring specialized skills and flexibility, making them valuable assets for various industries. Here’s how different sectors can leverage remote talent to spur innovation and growth. From technology to e-commerce, remote talent is revolutionizing businesses globally. 

1. Technology 

Companies in software development, IT services, and cybersecurity can significantly benefit from remote developers by accessing specialized skills and rapidly scaling projects. 

Benefits: Access to specialized skills and quick project scaling. 

Statistics: 

Growth: The global IT outsourcing market is projected to grow at a CAGR of 4.5% from 2021 to 2026. 

Demand: Approximately 70% of tech companies hire remote developers to meet project demands. 

2. Finance 

Financial institutions can utilize remote developers to create secure financial software and enhance online banking services. 

Benefits: Development of secure financial software and enhancement of online banking services. 

Statistics: 

Growth: The global fintech market size is forecasted to reach USD 644.6 billion by 2029, growing from USD 209.7 billion in 2024 at a CAGR of 25.18%. 

Security: About 60% of financial services firms employ remote developers for cybersecurity improvements. 

Example: Nippon India, one of India’s largest asset management companies, collaborated with Softlabs Group to develop a Trail Brokerage Management System using Dot Net Core, React JS, and SQL. 

Testimonial: "Softlabs Group’s service and results have proven highly successful for us. Their team excels in clear and consistent communication, ensuring that project details are conveyed effectively. What truly stands out is their commitment to building long-term working relationships, going beyond immediate project goals. This dedication not only fosters a positive collaboration environment but also sets the stage for continued success in future endeavors." 

3. Healthcare 

Telehealth platforms and health tech companies can benefit from remote developers for innovating and maintaining their digital solutions. 

Benefits: Innovation and maintenance of digital solutions. 

Statistics: 

Growth: The global telehealth market is expected to grow at a CAGR of 24.0% from 2020 to 2027. 

Adoption: Around 80% of health tech startups employ remote developers for app development. 

4. E-commerce 

E-commerce businesses can enhance their platforms and improve customer experiences with the help of remote developers. 

Benefits: Platform enhancement and customer experience improvement. 

Statistics: 

Growth: In 2023, global retail e-commerce sales reached an estimated $5.8 trillion, with projections indicating a 39% growth in the coming years. 

Demand: On average, 65% of e-commerce companies hire remote developers to optimize their platforms. 

Remote Developers vs. Onsite Developers 

Remote developers provide greater flexibility, cost-effectiveness, and access to a wider talent pool compared to onsite developers. They eliminate geographical constraints, reduce overhead costs, and offer diverse skill sets. This comparison helps businesses determine which model aligns best with their operational needs and goals. 

Benefits of Hiring Remote Software Developers 

Understanding the benefits of hiring remote developers can help businesses make informed decisions and optimize their operations. Here are some key advantages: 

1. Access to a Global Talent Pool 

Diverse Skills and Expertise: Companies can tap into a worldwide talent pool, gaining access to specialized skills and knowledge that may not be available locally. 

Enhanced Innovation: A diverse team brings varied perspectives and innovative solutions to complex problems. 

2. Cost Savings 

Lower Overhead Costs: By hiring remote developers, businesses can save on expenses related to office space, utilities, and in-house amenities. 

Geographical Cost Differences: Remote developers from regions with lower living costs can offer the same level of expertise at a fraction of the cost compared to local hires. 

3. Increased Productivity 

Flexible Work Hours: Remote developers often have the flexibility to work during their most productive hours, leading to higher efficiency. 

Reduced Commute Stress: Eliminating the daily commute can reduce stress and increase the amount of time developers can dedicate to work. 

4. Scalability and Flexibility 

On-Demand Scaling: Businesses can easily scale their development teams up or down based on project needs without the constraints of long-term employment contracts. 

Adaptability: Remote teams can quickly adapt to changing project requirements and deadlines. 

5. Faster Time-to-Market 

Round-the-Clock Development: With developers in different time zones, projects can progress continuously, reducing overall development time. 

Quick Hiring Process: The ability to hire from a global pool means finding the right talent quickly, speeding up project initiation and execution. 

6. Access to Specialized Knowledge 

Niche Expertise: Remote hiring allows businesses to bring in experts with niche skills required for specific projects, enhancing the quality and innovativeness of the solutions. 

Continuous Learning: Remote developers often have access to a variety of learning resources and networks, ensuring they stay updated with the latest technologies and trends. 

7. Business Continuity 

Disaster Recovery: Remote teams provide continuity in case of local disruptions, ensuring that business operations can continue uninterrupted. 

Scalable Infrastructure: Cloud-based tools and infrastructure support remote work, making it easier to maintain and scale operations. 

These practical benefits demonstrate how hiring remote software developers can significantly boost business efficiency, driving growth, innovation, and cost-effectiveness. 

Mistakes to Avoid While Hiring Remote Developers 

Here’s a list of common mistakes to avoid while hiring remote software developers. 

1. Inadequate Communication Channels 

Mistake: Relying only on email can cause misunderstandings and delays. 

Solution: Use a variety of communication tools to ensure clarity and efficiency. For instance: 

Slack for instant messaging. 

Zoom for video conferencing. 

Trello for project management. 

2. Poor Onboarding Process 

Mistake: Skipping proper onboarding leads to confusion and low productivity. 

Solution: Develop a comprehensive onboarding plan that includes: 

Detailed introductions to company processes and tools. 

Introductions to team members. 

Providing necessary resources and training materials to new hires. 

3. Lack of Clear Expectations 

Mistake: Not setting clear goals and deadlines can cause misalignment and poor results. 

Solution: Clearly define project goals, deliverables, and timelines. Use project management tools like: 

Asana or Jira to track progress and maintain accountability. 

Regular check-ins to ensure alignment and address any issues promptly. 

4. Ignoring Time Zone Differences 

Mistake: Overlooking time zones can cause coordination issues. 

Solution: Establish overlapping working hours and use scheduling tools for meetings. When setting deadlines, consider the following: 

Utilize tools like World Time Buddy to manage time zone differences. 

Be flexible with meeting times to accommodate all team members. 

5. Neglecting Team Integration 

Mistake: Treating remote developers as separate from the main team can lower morale. 

Solution: Ensure remote developers feel included by: 

Inviting them to all team meetings and activities. 

Encouraging virtual team-building exercises to build rapport and a sense of belonging. 

Avoiding these common mistakes can help you effectively integrate remote developers into your team, ensuring smooth collaboration and optimal productivity. 

6. Overlooking Cultural Differences 

Mistake: Ignoring cultural differences can lead to miscommunication and misunderstandings. 

Solution: Be aware of and respect cultural differences. Promote an inclusive work environment by: 

Providing cultural sensitivity training. 

Encouraging open discussions about cultural norms and practices. 

7. Failing to Monitor Performance Regularly 

Mistake: Not regularly monitoring performance can lead to missed deadlines and unmet goals. 

Solution: Implement regular performance reviews and feedback sessions. Use tools like: 

15Five or Lattice for continuous performance management. 

Set clear performance metrics and regularly review them. 

8. Not Providing Growth Opportunities 

Mistake: Overlooking professional development can result in low motivation and high turnover. 

Solution: Offer growth opportunities by: 

Providing access to online courses and training programs. 

Encouraging participation in conferences and webinars. 

By being mindful of these additional considerations, you can create a more cohesive and motivated remote development team. 

Conclusion 

Avoiding these common mistakes will help you seamlessly integrate remote developers into your team. Prioritize effective communication, thorough onboarding, clear expectations, respect for time zones, and inclusive team integration to ensure smooth collaboration and optimal productivity. Additionally, acknowledging cultural differences, monitoring performance, and providing growth opportunities will foster a supportive and thriving remote work environment. 

Over to You! 

Embracing remote developers can be a transformative strategy for your business, offering substantial benefits such as cost savings, increased productivity, and access to a global talent pool. By leveraging specialized skills from around the world, your company can innovate faster, adapt to changing market demands, and maintain a competitive edge. 

At Softlabs Group, we understand the power of remote work and offer dedicated developers to help you achieve your business goals. Whether you’re looking to scale your development team, access niche expertise, or enhance your digital solutions, our experienced developers are here to support you. 

Ready to boost your business efficiency with dedicated remote developers? Click here to start hiring now. 

By partnering with us, you can: 

Scale Your Team Efficiently: Quickly add skilled developers to your team to meet project demands. 

Access Niche Expertise: Tap into a global talent pool to find developers with the specific skills you need. 

Enhance Digital Solutions: Improve your digital products and services with the help of our experienced developers. 

Stay Competitive: Innovate faster and adapt to market changes to maintain a competitive edge in your industry. 

Our commitment to quality and seamless integration ensures that our remote developers will be valuable additions to your team. Let's take the next step towards achieving your business goals together. 

If you have any questions or need more information, feel free to contact us. We're here to help you succeed in the digital age. 

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Top Rated eCommerce Development Companies in USA

In today's digital age, eCommerce has become an integral part of the business world. With the increasing demand for online shopping, businesses are constantly looking for ways to enhance their eCommerce platforms.

The global B2C e-commerce market size was valued at USD 5,472.97 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 19.1% from 2024 to 2030. 

Looking for the perfect eCommerce website development partner?

We understand the importance of choosing the right company to build your online store. That's why we've compiled a list of highly-rated eCommerce development agencies in the USA known for their expertise across platforms (Shopify, Magento etc.) and specializations (B2B, headless commerce). These leaders will craft a high-converting online store that grows your brand and sales.

Sigma Solve Inc: Sigma Solve is a leading eCommerce development company that specializes in creating innovative and customized solutions for businesses of all sizes. With a team of experienced developers and designers, we are dedicated to delivering high-quality, user-friendly, and scalable eCommerce websites and applications. Our expertise in various eCommerce platforms such as Magento, Shopify, WooCommerce, and more, allows us to provide tailored solutions that meet the unique needs of our clients.

Magneto IT Solutions: At Magneto IT Solutions, we're proud to be Node.js development specialists. As an award-winning eCommerce agency, our focus is on creating exceptional B2C, B2B, B2B2B, B2B2C, D2C, and Marketplace eCommerce solutions. We hold Exclusive Partnerships with renowned B2B eCommerce platforms like Oro Inc. and are adept with Fabric & Commerce Tools for Composable (Headless) Commerce. With a robust team skilled in PIM Core and Adobe Commerce, we provide comprehensive solutions and consulting services for businesses in manufacturing, distribution, wholesale, and retail, enabling them to digitize their operations.

SmartSites: SmartSites is an award winning website design and digital marketing agency, with a focus on search engine marketing (SEO & PPC). SmartSites was founded by brothers Alex and Michael Melen, who grew up with a passion for all things digital. With an innovative vision and a lot of hard work, SmartSites quickly became one of America’s fastest growing companies.

Our relentless focus on our clients has led us to over 100 5-star reviews since our inception in 2011. When Dun & Bradstreet asked "How satisfied do you feel about the quality of service?", we scored a phenomenal 97%. We keep our clients happy by delivering results that exceed their expectations.

DD.NYC: DD.NYC is an award-winning design agency for custom web design, top branding, CPG packaging!

DD.NYC® Overview

WEB DESIGN

Custom Innovative Design

Mobile-Responsive Websites

Clear CTAs & Conversion Goals

Websites and Mobile/Web Apps UI/UX

Suffescom Solutions Inc: Suffescom is a leading mobile app development company that collaborates with businesses to create superior mobile applications. Our approach combines our clients' vision with our technical expertise to drive future business growth.

They have a legacy of successful partnerships with industry leaders and global recognition. They offer customized mobile application development services for various industry verticals, including banking, healthcare, supply chain, insurance, e-commerce, gaming, logistics, governments, education, and IT. With over 13 years of experience, they excel in native mobile app development, cross-platform mobile app development, progressive web app development, and mobile embedded app development. Source

Dinarys GmbH: Certified E-Commerce Development Company

Dinarys GmbH is a one-stop software engineering and IT consulting partner for retail and e-commerce businesses; Adobe and Shopware Certified Solution Partner, Certified BigCommerce Partner. For 10 years, our team of 100+ experts has helped more than 100 companies worldwide fuel their marketing strategies with cutting-edge technology ensuring exceptional ROI.

Command C: Since 2004 we have been helping online retailers strategize, migrate, build, stabilize, and grow their ecommerce stores.

Our sweet spot is serving B2C and B2B merchants whose revenue is between $2 million – $150 million per year.

Our development skills are just part of our value. Clients consistently say our strong project management sets us apart. And our ability to untangle technical jargon has also won us long-term client relationships.

Viha Digital Commerce: Award Winning Ecommerce Agency - Shopify, Magento

Viha Digital Commerce is an E-Commerce Web Development Agency that has created its own identity in the IT sector.

Dive into a world of innovation, where every line of code is dedicated to transforming your online vision into a captivating reality. Hire Certified excellence, Choose us, and let your website be the digital masterpiece it deserves to be.

Staylime: Ecommerce design & development company

Staylime is a design and development company that delivers ecommerce solutions to companies of all sizes, providing end-users with an engaging omnichannel shopping experience. Whether you need to develop a multifunctional store from scratch, fine‑tune an existing product or get your project back on track, we have a team of Magento and Shopify certified experts to help.

Netalico Commerce: Netalico is a hands-on, performance-focused ecommerce development agency that helps Shopify, Magento, and BigCommerce merchants build, maintain, optimize, and grow their online stores. Our team has a combined 40+ years of experience helping businesses of all sizes build lightning-fast, high-conversion websites. Source

E-commerce Development: A Guide to Building a Successful Online Store

In today's digital age, e-commerce has become an essential part of the retail industry. With the increasing popularity of online shopping, businesses are constantly looking for ways to improve their e-commerce platforms to meet the demands of their customers. E-commerce development plays a crucial role in creating a seamless and user-friendly online shopping experience for consumers. In this article, we will explore the key aspects of e-commerce development and provide a comprehensive guide to building a successful online store.

Understanding E-commerce Development

E-commerce development refers to the process of creating, customizing, and maintaining an online platform where businesses can sell their products or services to consumers. This involves a wide range of activities, including website design, front-end and back-end development, payment gateway integration, inventory management, and security implementation. The goal of e-commerce development is to provide a secure, efficient, and enjoyable shopping experience for customers while maximizing sales and revenue for businesses.

Key Aspects of E-commerce Development

1. Website Design: The design of an e-commerce website plays a critical role in attracting and retaining customers. A well-designed website should be visually appealing, easy to navigate, and optimized for both desktop and mobile devices. It should also incorporate intuitive user interfaces and clear calls-to-action to guide customers through the shopping process.

2. Front-End Development: Front-end development focuses on creating the visual elements and interactive features of an e-commerce website. This includes designing product pages, shopping carts, checkout processes, and other customer-facing components. Front-end developers use HTML, CSS, and JavaScript to build responsive and engaging interfaces that enhance the overall user experience.

3. Back-End Development: Back-end development involves building the infrastructure that supports the functionality of an e-commerce website. This includes server-side scripting, database management, and integration with third-party services such as payment gateways and shipping providers. Back-end developers work to ensure that the website operates smoothly, processes transactions securely, and manages customer data effectively.

4. Payment Gateway Integration: An essential aspect of e-commerce development is integrating secure and reliable payment gateways to facilitate online transactions. This involves setting up payment processing systems that accept various forms of payment, such as credit cards, digital wallets, and alternative payment methods. Payment gateway integration is crucial for providing a seamless checkout experience and building trust with customers.

5. Inventory Management: Effective e-commerce development includes implementing robust inventory management systems to track product availability, restock inventory, and manage order fulfillment. This ensures that customers have access to accurate stock information and receive timely updates on their orders. Inventory management is vital for maintaining customer satisfaction and optimizing supply chain operations.

6. Security Implementation: Security is a top priority in e-commerce development, as online stores handle sensitive customer information and financial transactions. Implementing robust security measures, such as SSL encryption, secure authentication protocols, and regular security audits, is essential for protecting customer data and preventing unauthorized access or fraudulent activities.

Building a Successful Online Store

To build a successful online store, businesses must focus on delivering a seamless and personalized shopping experience for their customers. This requires careful planning, strategic decision-making, and continuous optimization of the e-commerce platform. Here are some key strategies for building a successful online store:

1. Understand Your Target Audience: Take the time to research and understand your target audience's preferences, behaviors, and shopping habits. Use this insight to tailor your e-commerce platform to meet their needs and expectations.

2. Choose the Right E-commerce Platform: Selecting the right e-commerce platform is crucial for building a successful online store. Consider factors such as scalability, customization options, third-party integrations, and ongoing support when choosing a platform that aligns with your business goals.

3. Optimize for Mobile Shopping: With the increasing use of mobile devices for online shopping, it's essential to optimize your e-commerce website for mobile responsiveness and usability. A mobile-friendly design ensures that customers can easily browse and make purchases on their smartphones or tablets.

4. Provide Seamless Checkout Experience: Simplify the checkout process by minimizing the number of steps required to complete a purchase. Offer guest checkout options, provide multiple payment methods, and ensure transparent shipping costs to reduce cart abandonment and improve conversion rates.

5. Implement Personalization Features: Leverage data analytics and customer insights to implement personalized product recommendations, targeted promotions, and tailored shopping experiences. Personalization enhances customer engagement and encourages repeat purchases.

6. Focus on Website Performance: Optimize your e-commerce website for speed, reliability, and scalability to deliver a smooth browsing and shopping experience. Fast-loading pages and efficient navigation contribute to higher customer satisfaction and retention.

7. Invest in Marketing and Customer Service: Develop a comprehensive marketing strategy to drive traffic to your online store and engage with potential customers. Additionally, prioritize exceptional customer service to build trust and loyalty among your customer base.

Conclusion

E-commerce development is a multifaceted process that requires careful planning, technical expertise, and a deep understanding of customer behavior. By focusing on website design, front-end and back-end development, payment gateway integration, inventory management, security implementation, and strategic decision-making, businesses can build a successful online store that meets the evolving needs of today's digital consumers. With the right approach to e-commerce development, businesses can create a competitive edge in the online retail landscape and achieve sustainable growth in the long run.

How to Choose the Best Ecommerce Website Development Company for Your Business

In today's digital age, having a strong online presence is crucial for the success of any business. Whether you are a small startup or a large enterprise, having a well-designed and functional ecommerce website is essential for reaching your target audience and driving sales. However, with so many ecommerce website development companies out there, choosing the right one for your business can be a daunting task. In this article, we will discuss the key factors to consider when selecting the best ecommerce website development company for your business.

Define Your Business Goals and Requirements

Before you start your search for an ecommerce website development company, it's important to clearly define your business goals and requirements. Consider what you want to achieve with your ecommerce website, whether it's increasing online sales, improving user experience, or expanding your online presence. By having a clear understanding of your goals, you will be better equipped to communicate your needs to potential development companies.

Research and Shortlist Potential Companies

Once you have a clear understanding of your business goals and requirements, it's time to start researching potential ecommerce website development companies. Look for companies that have a strong track record of delivering high-quality ecommerce websites for businesses similar to yours. You can start by searching online for the "best ecommerce website development companies in the USA" and create a shortlist of potential Companies.

Check Their Portfolio and Client Reviews

When evaluating potential ecommerce website development companies, be sure to review their portfolio of past projects and client testimonials. A reputable company should have a portfolio that showcases a variety of ecommerce websites they have developed, demonstrating their expertise and ability to deliver high-quality work. Additionally, reading client reviews and testimonials can provide valuable insights into the company's reputation and the satisfaction of their past clients.

Evaluate Their Technical Expertise

An ecommerce website is a complex project that requires a high level of technical expertise. When choosing a development company, it's important to evaluate their technical skills and capabilities. Look for companies that have experience working with ecommerce platforms such as Shopify and have a strong understanding of ecommerce best practices, including mobile responsiveness, secure payment gateways, and user-friendly navigation.

Consider Their Design and User Experience Capabilities

In addition to technical expertise, the design and user experience of your ecommerce website are critical to its success. A well-designed website that provides a seamless user experience can significantly impact your online sales and customer satisfaction. When evaluating development companies, pay close attention to the design aesthetic and user experience of the websites they have developed in the past.

Discuss Your Budget and Timeline

Before finalizing your decision, it's important to discuss your budget and timeline with potential ecommerce website development companies. Be transparent about your budget constraints and timeline expectations to ensure that the company can deliver within your parameters. While it's important to find a company that offers competitive pricing, remember that quality should not be compromised for cost.

Budget and Timelines

While cost should not be the sole determining factor, it's important to consider your budget when choosing an ecommerce website development company. Request detailed proposals from potential companies, including cost breakdowns and timelines for the project. Be wary of companies that provide significantly lower quotes than their competitors, as this could be indicative of subpar quality or hidden costs.

Discuss Ongoing Support and Maintenance

Launching an ecommerce website is just the beginning of your online journey. Ongoing support and maintenance are crucial for the long-term success of your ecommerce business. Inquire about the post-launch support services offered by the development company, such as software updates, security patches, performance monitoring, and technical assistance. A reliable support system ensures that your website runs smoothly and efficiently at all times.

Request Detailed Proposals and Quotes

Once you have shortlisted a few potential ecommerce website development companies, request detailed proposals and quotes from each of them. The proposals should outline the scope of work, project timeline, deliverables, pricing structure, and terms of payment. Compare the proposals carefully to ensure that all your requirements are addressed, and there are no hidden costs or ambiguous terms.

In conclusion,

Choosing the right eCommerce development company is crucial for the success of your online business. By considering factors such as expertise, experience, and customer satisfaction, you can make an informed decision and partner with a company that can help you achieve your business goals. The top-rated eCommerce development companies in the USA mentioned above are known for their expertise, innovation, and commitment to delivering high-quality solutions for businesses of all sizes. Whether you are looking to build a new eCommerce website or optimize an existing one, these companies can provide the expertise and support you need to succeed in the competitive world of online retail.

About Sigma Solve:

Sigma Solve is a leading eCommerce development company that specializes in creating innovative and customized solutions for businesses of all sizes. With a team of experienced developers and designers, we are dedicated to delivering high-quality, user-friendly, and scalable eCommerce websites and applications. Our expertise in various eCommerce platforms such as Magento, Shopify, WooCommerce, and more, allows us to provide tailored solutions that meet the unique needs of our clients.

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AI in BFSI: Redefining Customer Experience and Risk Management

 Artificial intelligence (AI) is illustrated by machines rather than natural intelligence displayed by humans. Intelligence in machines is programmed to think like humans and mimic their actions. In addition, machines are designed to rationalize and function like human mind, such as learning, planning, identifying patterns, problem solving, and decision making to achieve a specific goal. Therefore, it has become an essential part of technology in the BFSI industry. In financial institutions and other major finance industries, AI has become a core adaption and is expected to change the overall scenario of service offerings.   

The AI in BFSI Market study by Allied Market Research includes an overview of business trends, competitor analysis, and a future market and technical analysis forecast. In addition, the study gave an illustration of the global value and key regional trends in terms of Earthquake InsurMark size, share and growth opportunities. All information about the global market has been carefully analyzed and verified by industry professionals after being gathered from very reliable sources.   

Download PDF Sample Copy: https://www.alliedmarketresearch.com/request-sample/2791

A comprehensive and detailed method that combined primary and secondary research was used to thoroughly investigate the global E-Banking Market. While secondary research gave a broad overview of the products and services, primary research involved a thorough examination of many factors that influence the market. A process of searching is done using a variety of sources, such as press releases, professional journals, and government websites, to gain insights into the industry. This approach has made it possible to acquire a clear, extensive understanding of the global E-Banking Market 

Analysis of Key Players: 

The market is fragmented, with many large and medium-scale vendors controlling minority shares. Vendors actively engage in product development by making significant investments in R&D initiatives. Through a variety of growth strategies, including alliances, partnerships, mergers, and acquisitions, they are increasing their Shop Insurance Marketshare.  

Purchase this Report@ https://www.alliedmarketresearch.com/artificial-intelligence-in-BFSI-market/purchase-options  

Major players operating in the AI in BFSI Market: industry include Oracle Corporation, Baidu, Inc., Palantir Technologies Inc., Inbenta Technologies Inc., Microsoft Corporation, salesforce.com, inc., Intel Corporation, International Business Machines Corporation, SAP SE, Alphabet Inc.  

By Offering 

Hardware 

Software 

Services 

By Solution 

Chatbots 

Fraud Detection & Prevention 

Anti-Money Laundering 

Customer Relationship Management 

Data Analytics & Prediction 

Others 

By Technology 

Deep Learning 

Querying Method 

Natural Language Processing 

Context Aware Processing 

By Region 

North America (U.S, Canada, and Mexico),  

Europe (UK, Italy, Germany, France, Spain, Netherlands, Switzerland, and the Rest of Europe),  

Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Thailand, and Rest of Asia-Pacific),  

LAMEA (Latin America, Middle East, and Africa).  

The expert team at Allied Market Research continuously analyzes the market environment by making precise predictions about the necessary driving and restraining factors. On these factors, the stakeholders can base their business plans.  

Key Benefits for Stakeholders: 

This report offers a quantitative examination of the market segments, estimations, recent trends, and dynamics of the AI in BFSI Market: analysis from 2023 to 2032 to specify the key competitive advantages.  

An in-depth analysis of Market segmentation helps in determining current market opportunities.    

Porter's five forces analysis places a strong emphasis on consumers' and vendors' capacity to develop their supplier-buyer networks and come to profitable business decisions.  

The report examines regional and global market segmentation, LAMEA Travel Insurance MarkeTrends, leading players, market growth strategies, and application areas.  

Market participants' positioning encourages comparative analysis and provides a clear understanding of the player's current position.   

The major countries in each region are mapped based on their revenue contribution to the global market.    

The report provides in-depth details of the business tactics used by the major market participants in AI in BFSI Market: growth.  

Customization Before Buying, Visit @ https://www.alliedmarketresearch.com/request-for-customization/2791  

Key Questions Answered in the Research Report-  

What are the market sizes and rates of growth for the various market segments in the global and regional market?  

What are the key benefits of the AI in BFSI Market: report?  

What are the driving factors, restraints, and opportunities in the global Market?  

Which region has the largest share of the global Market?  

Who are the key players in the global Market?  

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1) Budgeting Software Market: https://www.alliedmarketresearch.com/budgeting-software-market-A11766 

2) Digital Mortgage Software Market: https://www.alliedmarketresearch.com/digital-mortgage-software-market-A12740 

3) Premium Finance Market: https://amarketplaceresearch.com/2023/09/13/premium-finance-market-paving-the-way-for-financial-flexibility-in-insurance/ 

About Us: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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Empower Your Fintech Future: Thrive with White-Label Solutions

In today’s fast-paced world of fintech and banking, it’s all about staying ahead of the curve and keeping that innovative edge. One approach that has taken off in recent years is the use of white-label solutions. These solutions offer a smart and budget-friendly way for fintech and banking companies to offer top-notch services without having to start from square one.

In this detailed guide, we’re going to dive deep into the world of white-label solutions. We’ll uncover what they are, why they’re such a big deal in 2023, and most importantly, how businesses can harness their power to not just survive but thrive in the ever-changing financial landscape. So, get ready to unlock the secrets of staying competitive and successful in the fintech and banking game!

What are White Label Solutions for fintech solutions?

White label solutions, often referred to as “private label” or “reseller” solutions, are pre-designed products or services developed by one company and then rebranded and sold by another. In the fintech and banking sector, these solutions encompass a wide range of offerings, including payment processing systems, mobile banking apps, trading platforms, and more.

The Advantages of White Label Solutions

Time Efficiency: Building a fintech service or banking platform from the ground up can be time-consuming. White-label solutions provide a shortcut, allowing businesses to go to market faster.

Cost-Effective: Developing proprietary software can be expensive. White-label solutions offer a more budget-friendly alternative, as companies can license existing technology.

Scalability: White-label solutions often come with the ability to scale as the business grows, accommodating increased demand and functionality requirements.

Expertise: By partnering with a white-label provider, businesses can tap into the expertise of specialists who have already mastered the technology.

Focus on Core Competencies: Companies can concentrate on their core business operations while relying on white-label partners for the technical aspects.

The Role of White Label Solutions in Fintech

Fintech’s Evolution

The fintech industry has seen rapid growth and transformation over the past decade. Traditional banking services have been disrupted by startups and established financial institutions alike, all vying for a piece of the digital financial services pie.

Payment Processing: White-label payment processing solutions enable businesses to accept various payment methods securely and efficiently.

Digital Wallets: Fintech companies can offer branded digital wallets, providing users with convenient and secure options for managing their finances.

Robo-Advisors: White-label robo-advisory platforms empower businesses to offer automated investment management services, attracting tech-savvy investors.

Peer-to-Peer Lending: P2P lending platforms can be white-labeled to facilitate lending and borrowing between individuals or businesses.

Blockchain and Cryptocurrency: White-label solutions in the crypto space allow companies to launch their digital currency exchanges or wallets.

Regulatory Considerations

Navigating the complex web of financial regulations is a significant challenge in fintech. When considering white-label solutions, businesses must ensure that their chosen partner complies with all relevant regulations and can adapt to changes in the regulatory landscape.

White Label Solutions in Traditional Banking

Modernizing Traditional Banking

Even established banks are embracing white-label solutions to modernize their services and remain competitive in the digital age. Here are some key areas where white-label solutions play a role in traditional banking:

Online and Mobile Banking: White-label solutions provide banks with customizable online and mobile banking platforms, enhancing the customer experience.

ATM Networks: Banks can expand their ATM networks by using white-label ATM solutions, reducing the need for costly infrastructure investments.

Core Banking Systems: White-label core banking systems help traditional banks streamline their operations, reduce costs, and stay agile.

Compliance and Risk Management: Regulatory compliance and risk management solutions can be white-labeled to assist banks in meeting compliance requirements efficiently.

Choosing the Right White Label Partner

Evaluating Potential Partners

Selecting the right white-label partner is crucial for the success of your fintech or banking venture. Consider the following factors when evaluating potential partners:

Technology Expertise: Assess the partner’s technology stack, development team, and track record in delivering successful white-label solutions.

Scalability: Ensure that the solution can grow with your business and adapt to changing market demands.

Customization: The ability to customize the solution to match your brand and unique requirements is essential.

Regulatory Compliance: Verify that the partner adheres to all necessary regulations and can help you navigate compliance challenges.

Support and Maintenance: Reliable customer support and ongoing maintenance are vital for the smooth operation of your white-label solution.

Implementing and Marketing Your White Label Solution

Implementation Process

The implementation of a white-label solution typically involves several stages, including:

Integration: Integrating the white label solution with your existing systems and infrastructure.

Customization: Tailoring the solution to match your brand and user experience requirements.

Testing: Rigorous testing to ensure functionality, security, and compliance.

Launch: Deploying the white-label solution to your customers.

Marketing Your Solution

Effectively marketing your white-label solution is crucial to its success. Strategies may include:

Branding: Develop a strong and unique brand identity for your white-label product.

Content Marketing: Create valuable content that educates and engages your target audience.

Partnerships: Form strategic partnerships to expand your reach and credibility.

User Education: Provide resources and support to help users make the most of your solution.

The Future of White Label Solutions in Fintech and Banking

Continuous Innovation

As fintech and banking technologies continue to evolve, white-label solutions will adapt to meet new challenges and opportunities. The future of white-label solutions in the industry may involve:

AI and Machine Learning: Integration of AI-driven features for personalized financial services.

Blockchain and Cryptocurrency: Expanding white-label solutions in the crypto space.

Regulatory Technology (Regtech): Enhanced compliance solutions to keep up with evolving regulations.

Cybersecurity: Advanced security features to protect against emerging threats.

Conclusion

In the ever-evolving world of fintech and banking, white-label solutions offer a strategic advantage. They enable businesses to stay competitive, launch innovative products and services quickly, and focus on their core strengths. As we look ahead to 2023 and beyond, the role of white-label solutions in shaping the industry’s landscape will undoubtedly continue to grow. By carefully selecting the right partners and staying attuned to market trends, businesses can harness the full potential of white-label solutions to thrive in this dynamic environment.

[userid-digitalmarketing]

Build Strategic Apps With Best Mobile Application Development Agency Bhubaneswar India

Introduction 

Mobile app development services have become the core of digital marketing in many industries across the globe. From retail and e-commerce stores to manufacturing companies, the mobile application helps them in business transactions, connecting their customers and clients to the company’s products and services, and making the brand more prominent.  

To stay in touch with prospects and customers, most companies today need to hire the best Mobile Application Development Agency Bhubaneswar India, and develop a mobile app that matches their vision, caters to their requirements, and seamlessly connects their brand to their prospects. 

In fact, according to recent statistics, in 2022 alone, the global market size is expected to hit $581.9 billion and $935 billion worldwide by 2023. Today, we have almost all the necessities of daily life through our smartphones. So, why not use apps to make things easier?

App Development in India: A Growing Industry

Both the Google Play Store and Apple App Store have seen significant growth in the last couple of years. Downloads are up, and revenues for Mobile Application Development Agency Bhubaneswar India are skyrocketing too. Furthermore, the country has the most downloads on both platforms.

In 2021-2022, the most popular app category among Indian users is video streaming, which features apps like Netflix, followed by dating apps like Tinder. In 2015, the most popular app categories were shopping, entertainment, and games. The trends are changing, and so are the dynamics of the industry. 

If you want to be a part of this unstoppable growth and develop a mobile app that keeps you ahead of your competition, then look no further than MoovOn Services & Solutions. MoovOn is a leading and renowned Mobile Application Development Agency Bhubaneswar India, with years of experience in mobile app development. 

Benefits Of Hiring MoovOn Services & Solutions For Mobile App Development 

As mobile technology continues to progress at a rapid pace, many businesses have adopted the use of mobile apps to communicate directly with their customers. Apps are becoming increasingly prevalent across various industries, including banking, retail, healthcare, e-commerce, automotive, and even entertainment. 

However, before diving head first into app development, it is critical to understand the benefits of working with the best Mobile Application Development Agency Bhubaneswar India. Here are five top reasons for choosing MoovOn Services & Solutions over doing it yourself:

Cost Savings

If you are looking to build a custom application without professional guidance, you are more likely to spend thousands of dollars in development costs alone. On the other hand, if you hire a reputable mobile app development agency, we will charge you much less than what you’d pay if you had done it yourself – sometimes substantially cheaper! 

In fact, we also offer free trials to test out our services. If you decide after testing their service that it is not right for you, you won’t owe any fees to us. As a result, you will save money upfront. You can even get started today with the assistance of an expert team, and reap the cost savings later.

Reliable App Developers

You may not be familiar with the term “agile,” but chances are you have heard about agile software development (ASD). ASD focuses heavily on building quality apps rather than quantity. According to the International Association of Software Architects, ASD is characterized by small teams working independently, frequent iterations, and short development cycles. 

By building with ASD principles in mind, you can ensure your app development project runs smoothly, even if you don’t have experience in the industry. Being an experienced mobile app development agency, we practice ASD, so you can rest assured that you will have access to reliable developers who know how to complete projects efficiently and effectively.

Industry Expertise

It’s no surprise that experienced professionals make great teachers. When you hire our dedicated team of mobile app developers, you will get to work with highly skilled experts who know your needs inside and out. These people have been developing applications for years and have extensive knowledge of the industry. 

Our team can help you develop marketing strategies, design user flows, and develop unique features that set your app apart from competitors. Plus, you will benefit from their expertise long after your app launch date, since our experts will continue to provide ongoing advice and assistance to keep your app fresh and relevant.

A Better User Experience

One way to differentiate yourself from others in your industry is to create a superior user experience. If you want to stand out among competitors, you need to make sure your app performs flawlessly. To achieve that goal, you can turn to MoovOn Services & Solutions for assistance. 

Our professionals can perform usability tests and provide feedback to ensure your app is intuitive, simple to navigate, and loads fast. Additionally, we can guide you through the process of refining your app to maximize its effectiveness.

Ongoing Support

Mobile apps are incredibly powerful tools. While you might think of them solely as standalone devices that function independently of a computer, this could not be further from the truth. In reality, mobile apps play a major role in connecting you to the world around you. 

If you plan to deploy an app that connects consumers to your business, you should consider getting expert help to ensure everything comes together seamlessly. This will be particularly helpful as your app evolves since you will want someone to assist you with new ideas and challenges they face with each release.

Bottom Line

Concluding, while mobile apps are not just for consumer electronics anymore, having an app for your business can go far beyond sending text messages or posting Facebook statuses. When you decide to build an app for your company, trust MoovOn as the best Mobile Application Development Agency Bhubaneswar India to get the job done right.

Contact us today for more details on mobile app development, website development, domain hosting, email marketing, graphics designing, content marketing, social media promotion, digital marketing, SEO services, and everything else.

[paynxt360]

Pine Labs reports strong revenue growth under its gift card business vertical

Gift cards have emerged as a strong payment tool during the global pandemic outbreak, with the adoption of digital vouchers surging among consumers across the Asian markets. The growing shift towards gift cards as a payment tool has, therefore, led to strong revenue growth for fintech firms like Pine Labs, which generated a third of its revenue through the gift card business vertical.

During the financial year ending March 2022, Pine Labs reported revenue growth of 59% in its gift card business vertical. The segment that turned out to be the second highest income generator for the firm reported a revenue of INR 3.37 billion, which is 33.1% of its total collection.

The core product offering of Pine Labs, a point of sale (PoS) solution, accounted for 60.5% of the total revenue. During the FY 2022 period, the segment reported a growth of 38.8% compared to FY 2021. For the financial year, the revenue from the business vertical reached INR 6.15 billion. As per the financial statements of the firm, the fintech startup managed to go past INR 10 billion in operating revenues during FY 2022, reporting a growth of 40.7% compared to the year before, when the operating revenue stood at INR 7.26 billion.

In India, Pine Labs is the top issuer of prepaid payment instrument providers. According to a report from the Reserve Bank of India (RBI), the firm had issued more than 185 million gift cards and loyalty cards in the country, as of November 2022. This trend is projected to further continue in 2023, as the firm keeps strengthening its offerings across employee rewards, customer loyalty programs, and channel partner programs for small and large enterprises, through acquisition deals.

In 2020, Pine Labs acquired Fave, the Southeast Asian fintech firm, for a total of US$45 million in a cash and stock deal. Fave, which offers vouchers, gift cards, and deals, generated a revenue of INR 650 million in FY 2022. In 2023, the firm made further acquisitions to boost the growth of its gift card business vertical.

In January 2023, the firm announced the acquisition of India-based Saluto Wellness Private Limited. The acquisition will enable the firm to further strengthen the position of its Qwikcilver brand, the gift card vertical, across India as well as in the Southeast Asian region.

With the addition of Saluto Wellness under its umbrella of services and product offerings, Pine Labs is projected to further drive its revenue growth from the short-term perspective. Notably, the firm has been on an acquisition spree over the last 12 months. Along with Saluto Wellness, the firm also acquired Qfix, Mosambee, and Setu. These acquisitions are part of the firm’s strategy to diversify revenue by offering various software and value-added services. PayNXT360 expects the firm to enter into more acquisition deals, as the funding winter continues to provide lucrative buyout opportunities in the global fintech market.

To capitalize on the growing adoption of gift card solutions among consumers, the fintech firm is also expanding its presence aggressively in the global market. For instance,

In January 2023, Pine Labs announced that the firm is expanding its presence with the launch of its services in the United Arab Emirates market. Through strategic alliances with local banks and financial institutions, the firm is seeking to tap into the high-growth opportunity offered by the Emirati market. Pine Labs also partnered with Kalyan Jewellers, which has a strong presence in the Emirates and is also popular among the Indian expat community.

The gift card industry in the Emirati market is growing at a rapid pace and the entry of Pine is projected to further drive the competitive landscape in the country. Several players, including YOUGotAGift, are competing for market share in the fast-growing gift card industry in the Emirates. In February 2023, YOUGotAGift also announced that the firm had raised US$3 million from Tenami Capital, which the firm plans to use for expanding its presence in the Middle East market.

For Pine Labs, the growing presence in new markets, coupled with a strategic acquisition to strengthen its industry position, will keep assisting revenue growth. Furthermore, it will also enable the firm to place itself strategically to break even from the short to medium-term perspective, thereby making the public offering even more lucrative for investors around the world.

To know more and gain a deeper understanding of the gift card market in India, click here.

[indodatacenter]

The Growing of Managed Cloud Services in Indonesia

Managed Cloud Service Providers (MCSP) is, as the name implies, a provider of cloud computing services to their customers. MSPs provide hardware and software services to help customers manage the cloud infrastructure layer of their data centers. These services include storage, servers, networking, and more. A managed cloud service provider collects the underlying cloud infrastructure for some or all of its customers' applications.

Managed Cloud Services Growth in Indonesia

In the age of information technology, the demand for cloud computing is increasing in Indonesia. Cloud Computing is a model used as infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS). The service is available to anyone through a web browser or mobile device. Their services are very flexible, reliable, scalable, and cost-effective.

The cloud provider owns and controls all of the hardware and infrastructure in this service. The customer can access the computing resources when needed and pay only for what they use. This reduces upfront capital expenditure, risk, complexity, and management costs over owning your hardware or software.

Cloud computing services have become increasingly popular in Indonesia, with over 45 percent of enterprises adopting this technology. The growth of this technology can be seen in various sectors, such as banking and finance, telecommunications, media and entertainment, manufacturing and distribution, transportation, and logistics.

Indonesia Managed Cloud Services Market Size

Like several other countries in Asia, Indonesia has been experiencing rapid growth in cloud services. In particular, managed cloud services are increasing rapidly at a rate of 20% year over year and will be worth $1.6 billion by 2020. The national government has taken note of the growth and recently announced plans for a National Cloud Initiative to increase adoption and push for better standards within the industry. Indonesia's decision to promote a strong IT sector will play a key role in determining the future of cloud computing in the region.

The Public Cloud market in Indonesia is projected to grow by 20.78% (2022-2027), resulting in a market volume of US$2.76bn in 2027. The main reason for the growing demand for cloud-based solutions is that they offer an environment that can be easily accessed, used, and changed per the business requirements without any upfront capital investment. Also, it has enabled businesses to focus on their core competencies as they don't have to worry about setting up servers, storage, and other related resources, which otherwise would have taken a lot of time and effort.

There are many managed cloud service providers in Indonesia to cater to customers' growing needs. Some of these are Amazon Web Services (AWS), Microsoft Azure, Alibaba Cloud, Digital Ocean, and Google Cloud Platform, among others. 

Some of the key trends responsible for the growth of the cloud computing market in Indonesia include:

Rapidly increasing internet penetration and smartphone usage. Indonesia is one of the largest digital penetration in the world. In 2023, Indonesia will have 230 internet users.

Increase in workforce resources from abroad.

Rise in e-commerce activities. 

Increase in B2B transactions on online platforms.

Increase in the Government sector using cloud services.

In recent years, the Indonesian economy has experienced some of the highest rates of growth in the world. 

Tech Giant Invest in Data Center in Indonesia 

More and more tech giants worldwide are beginning to invest in data centers as one of their strategic moves. AWS, Google, and Microsoft are some of them. In Indonesia, they are OVH, IBM, Alibaba, and Google. They are to build their data center in Indonesia. These data centers help the country to boost its economy.

This is excellent news for the country that Indonesia can become an IT hub for an international companies to invest here. The data center will bring jobs to the people in Indonesia. This will also give a boost to the education sector since there will be a need for local engineers to work on it.

Read more about: largest digital penetration

Conclusion

Managed cloud services in Indonesia are growing rapidly from before. Several local companies partnering with Google and AWS have seen revenues improve. One of Indonesia's managed cloud service companies, Elitery, has already taken the floor on the Indonesian stock exchange.

Indonesia is the fourth largest country in terms of population and the third most populated country in the world, behind China and India, so it's crucial for businesses looking to expand internationally to have a presence there.

[flutteragency]

Grocery Delivery App Development: A Complete Guide In 2023

Nowadays, many grocery stores have opened up online delivery services. It is a great idea for customers and businesses, particularly when people always look for methods to save time and money!

This post will define the advantages of creating an on-demand grocery mobile application, its types, features associated with your grocery app development, and much more.

What is a Grocery Delivery App?

A grocery delivery app is a mobile application that permits users to order grocery items. It will deliver them at home or office as this is the online platform for retailers to get more business by getting the services in the comfort of your customer’s home or at work.

It will save people time and money as they no longer have to travel into the town or order takeaways! This service is useful when you live in remote areas as they give little variety in grocery shopping options.

Why develop a Grocery Delivery App in 2023?

Let’s see some reasons for creating the Grocery delivery app below.

1. Join the Fast Growing Niche

The demand and need for grocery delivery are constantly growing daily, increasing the global online grocery market. According to the study, Grand View Research forecasts it will rise from $354 billion in 2022 to more than $2 trillion in 2030, which is about 25% annual growth. It can also enter the fast-evolving industry and get a profit from it.

2. Drive Innovation in Grocery Shopping

Grocery shopping is an innovation in the usual shopping procedure by introducing grocery delivery app development. It will improve the customer experience, allowing the customers to order all the essential goods simply through the smartphone application.

3. Create a stronger relationship between the customers

As you are the grocery store owner, supermarket chain manager, service provider, etc. It would be best if you created trust with your customers. McKinsey states that personal relationships are one of the aspects contributing to the profitability of your enterprise.

On-demand grocery delivery app development will create a strong customer connection. It personalizes the experience by conducting analytics and will come up with relevant recommendations.

Advantages of creating an online grocery shopping application

1. Optimize resources

With the help of technology, you can optimize resources in the changing business landscape. You can enhance operational capabilities with the implemented software for inventory management, customer relationship management (CRM), web design, etc. It will increase profits and reduce costs by streamlining the procedure within your organization.

It permits the enterprises to concentrate on core activities with complete control over the non-core functions like payroll, data capture, analysis, etc.

2. Uplift your business

The growth of the business is the priority as it aids you in reaching more customers. With the help of an app, your business can deliver the goods directly to your homes, making shopping easy and convenient for customers. Clients can also place orders on their mobile gadgets while doing something else.

3. Economical approach

A grocery delivery app is economical as it saves costs through an optimized resource that streamlines procedures within your organization. However, it eliminates the person’s time gathering the information manually from various sources such as tax filing, bank statements, etc. Hence, it requires hiring additional staff members responsible for the task rather than focusing on the major activities which add value to the organization’s growth strategy.

4. 24/7 availability

The grocery delivery app is accessible 24*7 for users, as it can easily order their groceries anywhere and at any time. It ensures that your user does not have to worry about going out of the milk or bread before you come from work, as they know they will order it with a single click without going via various stores that search for those items.

5. Collect your user reviews

The other benefit of developing a mobile app that provides grocery delivery services is that it gathers all user reviews about an experience. You will be able to improve on whatever might require improvement and make the changes to meet the requirements of every client.

It also makes life easier for them as they do not have to go via different stores to collect information about your products; rather than coming directly from your customers, it saves time and energy for both parties involved in the delivery app development.

6. Inventory management

With the grocery delivery app, you can track where all your goods are located in real-time. In this way, if things ever go missing or get misplaced, you have a clear idea of what needs to be done, and it acts accordingly without delay.

Types of Grocery Delivery Apps

Let’s see some of the kinds of Grocery Delivery Apps below:

1. E-Commerce-Based Grocery Apps

The e Commerce-based grocery app is where a user can search for products from the third-party application. For instance, Amazon Fresh allows users to shop for their groceries online and deliver them at home or work.

2. Individual-Based Grocery Apps

Individual-based grocery apps permit consumers to order directly from the retailers as it is opposed to the various eCommerce platforms. However, these mobile apps include brands like Walmart’s To Go service and Target CartWheel Delivery.

3. Supermarket-Based Grocery apps

This type of grocery app will help them make deliveries directly from the stores within the specific retail group rather than using the outside website.

Also, Read This Post:

Features of Consumer in Grocery Delivery App

Profile of Users

Login and registration is the first step for a user to interact with the application. For seamless registration, login with an email account or social credentials will aid the user in saving time.

Product List

Select the specific product from any categories of food and grocery products listed with a brief description.

Schedule Delivery

The scheduled delivery permits you to select a particular time from the calendar for receiving the orders and deliveries at a user’s convenience.

Track Order

It will inform a consumer of the order by delivering the order tracking details from time to time via push notifications or SMS.

Order Management

A customer glances at their order history, and if there is any convenience, they can cancel an order at any time.

Multiple Payment Methods

Multiple payment options will allow a customer to select from the various payment options conveniently.

Offer Zone

Offer Zone displays all offers and the discount details so that customers can prevail in the offer by opting in or entering the code while shopping.

Rating and Feedback

It consists of all the relevant feedback and rating users give about their shopping experience.

Features of Admin in Grocery Delivery App

Dashboard

The dashboard allows management to track all order-related activities that make the grocery business run smoothly without hassle.

Manage store

Handle several store chains and manage the number of orders and consumers residing in one place.

Assign Managers

It permits adding managers to the particular area for efficiently delivering the items. Hence, it will look up all the activities related to an order to enhance the customer experience.

Assign Orders

Managers can assign new orders to grocery stores and ensure that all orders are executed fluently.

Manage customers

This action permits grocery business owners to coordinate with all their customers.

Manage Payments

It manages all the payments and transaction-related operations transparently.

Features of Delivery Panel in Grocery Delivery App

Delivery Request Notification

It will notify the request for deliveries made along with the order number and associated delivery details.

Accept or Reject Delivery Request

It permits the delivery agent to accept or cancel requests if the user’s location is far away and delivery exceeds the time limit.

Track Customer Location On Map

Delivery agents can check the client’s location to see the best route with minimum traffic to make the deliveries within the estimated time.

In-app Chat/Calling

Delivery agents can communicate within the app to fix delivery times and know the correct route and destinations.

Get Delivery Confirmation

It permits the delivery agent to update the status of committed delivery to get the delivery confirmation from users and stores.

Process Of Grocery Delivery Application Development

Best Grocery Delivery Apps in the USA

1. Walmart

Walmart is an American-based multinational online retailer. In terms of grocery delivery services, it is well known in this industry for reliable, easier, faster, safe, and secure deliveries. Users can place orders for groceries, household essentials, and millions of other products from their favourite and leading brands from the comfort of their places.

2. Kroger

Kroger is the best online grocery delivery app in the USA, which is present for Android and iOS. It gives consumers coupons, deals, offers, and discounts and optimizes its ranking in the USA online delivery industry. Fresh vegetables, baby care products, household essentials, and more are delivered via this app. This app allows users to shop offline or online and opt for pickup goods or door delivery.

3. Instacart

Instant is a famous grocery delivery on-demand app that operates across USA and Canada locations. This leading online retailer has partnered with around 600 supermarkets and other retailers to provide smooth services to its audience.

It is best for ordering fresh food, groceries, beverages, alcohol, and many more items online from favorite stores and getting all the products at the doorsteps in just a few hours. The best feature of this app is that it gives same-day delivery or pickup of fresh or preservatives at flexible prices.

Also, Read This Post:

Conclusion

A Grocery Delivery App is worth it as it saves time and money if you are planning to enter the food business. It will provide convenience for your consumers and attract loyal shoppers. As a leading Custom application development company, we ensure that our app development services are completely reliable and flexible for any business. If you need more information or assistance in developing your food delivery app, then get in touch with us today. Our experienced project managers will discuss your requirements and will be happy to provide a quote for your app development.

Frequently Asked Questions (FAQs)

1. What is a grocery delivery app?

Grocery delivery apps allow users to choose and order groceries directly through an application. Many grocery delivery apps are subscription services, meaning a user pays it annually or monthly in addition to the price of groceries. Customers also have the option to give a tip to delivery drivers.

2. What is the objective of the grocery delivery application?

This business aims to ensure that a product is delivered to the consumers on time as time does matter in this business, as competitors are all set to serve the potential customers and will turn them into their potential customers.

3. How will grocery delivery make money?

Grocery delivery apps will make money via revenue sharing, delivery fees, premium subscription fees, and in-app purchasing.

Source:  https://flutteragency.com/hands-on-guide-on-grocery-delivery-app-development/

[shashiemrf]

Telecom Equipment Market 2021 How the Business Will Grow in 2025? Prominent Players

The importance of the telecom sector has never been higher than today, and this expected to spur the telecom equipment market 2020. The semiconductor and electronics industry reports are produced by Market Research Future, which highlights market options for expansion. A 10% CAGR is estimated to guide the market to revenues worth USD 562 billion by the end of 2023.

The development of wireless infrastructure is anticipated to create favorable momentum for market growth in the future. Moreover, the telecommunication equipment industry analysis states that the market is anticipated to achieve market share from the amplified growth of the cellular station. The upswing in research and development of a cost-effective portfolio is anticipated to bolster the telecom equipment market in the forecast period.

Segmental Analysis

The segmental evaluation of the telecom equipment market is conducted on the basis of infrastructure, type, end-users, and region. On the basis of type, the telecom equipment market is segmented into public switching, transmission, and customer premise. Based on the infrastructure, the telecom equipment market is segmented into wireless infrastructure and wired infrastructure. The end-user basis of segmenting the telecom equipment market comprises of banking, consumer electronics, retail, media, ISP/mobile operators, and defense and government. Based on the region, the telecom equipment market is segmented into Europe, North America, Asia Pacific, and the rest of the regions.

Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/4441

Detailed Regional Analysis

The regional insight into the telecom equipment market comprises of Europe, North America, Asia Pacific, and the rest of the regions. The Asia Pacific region is leading the telecom equipment market at approximately 40% share trailed by the North American region at a 30 % share. A number of the influential market leader in the telecom equipment market comprise of 80% of the fresh entrants in the market hail from China. The market for telecom equipment is motivated by many novel technologies and trends. It has been anticipated that the Asia Pacific region will show the way in the telecom equipment market for the duration of the forecast. It is due to the rising economies like China and India who are putting in billions in their telecommunication set up. In addition, the consumer electronics market is controlled by the Asia Pacific region from the manufacturer’s point of view and the consumer’s outlook. It is also likely that the telecom equipment market in countries like India only will arrive at around 48 billion at some point in the forecasted period.

Table of Content:

7 GLOBAL TELECOM EQUIPMENT MARKET, BY OFFERING

7.1 INTRODUCTION

7.2 PRODUCTS

7.2.1 BROADBAND ACCESS

7.2.2 CORE NETWORK

7.2.2.1 EVOLVED PACKET CORE (EPC)

7.2.2.2 IP MULTIMEDIA SUBSYSTEM (IMS)

7.2.2.3 SIGNAL TRANSFER POINT (STP)

7.2.2.4 MULTI-ACCESS EDGE COMPUTING (MEC)

7.3 SOFTWARE

7.4 SERVICES

7.4.1 PROFESSIONAL SERVICES

7.4.1.1 CONSULTING SERVICES

7.4.1.2 INSTALLATION AND IMPLEMENTATION SERVICES

7.4.1.3 MAINTENANCE SERVICES

7.4.1.4 OTHER SUPPORT SERVICES

7.4.2 MANAGED SERVICES

8 GLOBAL TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE

8.1 INTRODUCTION

8.2 WIRELESS INFRASTRUCTURE

8.3 WIRED INFRASTRUCTURE

9 GLOBAL TELECOM EQUIPMENT MARKET, BY END-USER

9.1 INTRODUCTION

9.1.1 CONSUMER ELECTRONICS

9.1.2 BFSI

9.1.3 RETAIL

9.1.4 MEDIA

9.1.5 DEFENSE

9.1.6 OTHERS

10 GLOBAL TELECOM EQUIPMENT MARKET, BY REGION

10.1 OVERVIEW

10.2 NORTH AMERICA

10.2.1 US

10.2.2 CANADA

10.2.3 MEXICO

10.3 EUROPE

10.3.1 UK

10.3.2 GERMANY

10.3.3 FRANCE

10.3.4 REST OF EUROPE

10.4 ASIA-PACIFIC

10.4.1 CHINA

10.4.2 JAPAN

10.4.3 INDIA

10.4.4 VIETNAM

10.4.5 INDONESIA

10.4.6 PHILIPPINES

10.4.7 THAILAND

10.4.8 REST OF ASIA-PACIFIC

10.5 MIDDLE EAST AND AFRICA

10.5.1 UAE

10.5.2 SAUDI ARABIA

10.5.3 TURKEY:

10.5.4 QATAR

10.5.5 TUNISIA

10.5.6 REST OF MIDDLE EAST AND AFRICA

11 COMPETITIVE LANDSCAPE

11.1 GLOBAL TELECOM EQUIPMENT VENDOR MARKET SHARE ANALYSIS, 2020 (%)

11.2 COMPETITIVE BENCHMARKING

11.3 VENDOR’S ANNUAL REVENUE

11.4 MAJOR GROWTH STRATEGIES IN TELECOM EQUIPMENT MARKET

11.5 RECENT DEVELOPMENTS

11.5.1 PRODUCT DEVELOPMENT

11.5.2 MERGERS AND ACQUISITIONS

11.5.3 PARTNERSHIPS/AGREEMENTS/COLLABORATIONS

12 COMPANY PROFILES

12.1 HUAWEI TECHNOLOGIES CO, LTD

12.1.1 COMPANY OVERVIEW

12.1.2 FINANCIAL OVERVIEW

12.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.1.4 KEY DEVELOPMENTS

12.1.5 SWOT ANALYSIS

12.1.6 KEY STRATEGIES

12.2 CIENA

12.2.1 COMPANY OVERVIEW

12.2.2 FINANCIAL OVERVIEW

12.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.2.4 KEY DEVELOPMENTS

12.2.5 SWOT ANALYSIS

12.2.6 KEY STRATEGIES

12.3 NOKIA

12.3.1 COMPANY OVERVIEW

12.3.2 FINANCIAL OVERVIEW

12.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.3.4 KEY DEVELOPMENTS

12.3.5 SWOT ANALYSIS

12.3.6 KEY STRATEGIES

12.4 ZTE CORPORATION

12.4.1 COMPANY OVERVIEW

12.4.2 FINANCIAL OVERVIEW

12.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.4.4 KEY DEVELOPMENTS

12.4.5 SWOT ANALYSIS

12.4.6 KEY STRATEGIES

12.5 CISCO SYSTEMS INC.

12.5.1 COMPANY OVERVIEW

12.5.2 FINANCIAL OVERVIEW

12.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.5.4 KEY DEVELOPMENTS

12.5.5 SWOT ANALYSIS

12.5.6 KEY STRATEGIES

12.6 FUJITSU LTD

12.6.1 COMPANY OVERVIEW

12.6.2 FINANCIAL OVERVIEW

12.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.6.4 KEY DEVELOPMENTS

12.6.5 SWOT ANALYSIS

12.6.6 KEY STRATEGIES

12.7 TELEFONAKTIEBOLAGET LM ERICSSON

12.7.1 COMPANY OVERVIEW

12.7.2 FINANCIAL OVERVIEW

12.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.7.4 KEY DEVELOPMENTS

12.7.5 SWOT ANALYSIS

12.7.6 KEY STRATEGIES

12.8 QUALCOMM INCORPORATED

12.8.1 COMPANY OVERVIEW

12.8.2 FINANCIAL OVERVIEW

12.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.8.4 KEY DEVELOPMENTS

12.8.5 SWOT ANALYSIS

12.8.6 KEY STRATEGIES

12.9 SAMSUNG GROUP

12.9.1 COMPANY OVERVIEW

12.9.2 FINANCIAL OVERVIEW

12.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.9.4 KEY DEVELOPMENTS

12.9.5 SWOT ANALYSIS

12.9.6 KEY STRATEGIES

12.10 JUNIPER NETWORKS, INC.

12.10.1 COMPANY OVERVIEW

12.10.2 FINANCIAL OVERVIEW

12.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.10.4 SWOT ANALYSIS

12.10.5 KEY STRATEGIES

12.11 COMMSCOPE HOLDING CO., INC

12.11.1 COMPANY OVERVIEW

12.11.2 FINANCIAL OVERVIEW

12.11.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.11.4 KEY DEVELOPMENTS

12.11.5 SWOT ANALYSIS

12.11.6 KEY STRATEGIES

12.12 EXTREME NETWORKS

12.12.1 COMPANY OVERVIEW

12.12.2 FINANCIAL OVERVIEW

12.12.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.12.4 KEY DEVELOPMENTS

12.12.5 SWOT ANALYSIS

12.12.6 KEY STRATEGIES

12.13 RIBBON COMMUNICATIONS OPERATING COMPANY, INC.

12.13.1 COMPANY OVERVIEW

12.13.2 FINANCIAL OVERVIEW

12.13.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.13.4 KEY DEVELOPMENTS

12.13.5 SWOT ANALYSIS

12.13.6 KEY STRATEGIES

12.14 NEC CORPORATION

12.14.1 COMPANY OVERVIEW

12.14.2 FINANCIAL OVERVIEW

12.14.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED

12.14.4 KEY DEVELOPMENTS

12.14.5 SWOT ANALYSIS

12.14.6 KEY STRATEGIES

13 LIST OF TABLES

TABLE 1 MARKET SYNOPSIS

TABLE 2 GLOBAL TELECOM EQUIPMENT, BY OFFERING, 2020-2027 (USD MILLION)

TABLE 3 GLOBAL TELECOM EQUIPMENT MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 4 GLOBAL TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION)

TABLE 5 GLOBAL TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION)

TABLE 6 GLOBAL TELECOM EQUIPMENT MARKET, BY PROFESSIONAL SERVICES, 2020-2027 (USD MILLION)

TABLE 7 GLOBAL TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION)

TABLE 8 GLOBAL TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE, 2020-2027 (USD MILLION)

TABLE 9 GLOBAL TELECOM EQUIPMENT MARKET, BY END-USER, 2020-2027 (USD MILLION)

TABLE 10 GLOBAL TELECOM EQUIPMENT MARKET, BY REGION, 2020-2027 (USD MILLION)

TABLE 11 NORTH AMERICA: TELECOM EQUIPMENT, BY COUNTRY, 2020-2027 (USD MILLION)

TABLE 12 NORTH AMERICA: TELECOM EQUIPMENT, BY COMPONENT, 2020-2027 (USD MILLION)

TABLE 13 NORTH AMERICA: TELECOM EQUIPMENT MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 14 NORTH AMERICA: TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION)

TABLE 15 NORTH AMERICA: TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION)

TABLE 16 NORTH AMERICA: TELECOM EQUIPMENT MARKET, PROFESSIONAL SERVICES, 2020-2027 (USD MILLION)

TABLE 17 NORTH AMERICA: TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE, 2020-2027 (USD MILLION)

TABLE 18 NORTH AMERICA: TELECOM EQUIPMENT MARKET, BY END-USER, 2020-2027 (USD MILLION)

TABLE 19 US: TELECOM EQUIPMENT, BY COMPONENT, 2020-2027 (USD MILLION)

TABLE 20 US: TELECOM EQUIPMENT MARKET, BY PRODUCTS, 2020-2027 (USD MILLION)

TABLE 21 US: TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION)

TABLE 22 US: TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION)

TABLE 23 US TELECOM EQUIPMENT MARKET, PROFESSIONAL SERVICES, 2020-2027 (USD MILLION)

TABLE 24 US TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE, 2020-2027 (USD MILLION)

TABLE 25 US TELECOM EQUIPMENT MARKET, BY END-USER, 2020-2027 (USD MILLION)

TABLE 26 CANADA: TELECOM EQUIPMENT, BY COMPONENT, 2020-2027 (USD MILLION)

TABLE 27 CANADA: TELECOM EQUIPMENT MARKET, BY PRODUCTS, 2020-2027 (USD MILLION)

TABLE 28 CANADA: TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION)

TABLE 29 CANADA: TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION)

TABLE 30 CANADA: TELECOM EQUIPMENT MARKET, PROFESSIONAL SERVICES, 2020-2027 (USD MILLION)

TABLE 31 CANADA: TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE, 2020-2027 (USD MILLION)

TABLE 32 CANADA: TELECOM EQUIPMENT MARKET, BY END-USER, 2020-2027 (USD MILLION)

TABLE 33 MEXICO: TELECOM EQUIPMENT, BY COMPONENT, 2020-2027 (USD MILLION)

TABLE 34 MEXICO: TELECOM EQUIPMENT MARKET, BY PRODUCTS, 2020-2027 (USD MILLION)

TABLE 35 MEXICO: TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION)

TABLE 36 MEXICO: TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION)

TABLE 37 MEXICO: TELECOM EQUIPMENT MARKET, PROFESSIONAL SERVICES, 2020-2027 (USD MILLION)

TABLE 38 FRANCE: TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE, 2020-2027 (USD MILLION)

TABLE 39 MEXICO: TELECOM EQUIPMENT MARKET, BY END-USER, 2020-2027 (USD MILLION)

TABLE 40 EUROPE: TELECOM EQUIPMENT, BY COUNTRY, 2020-2027 (USD MILLION)

TABLE 41 EUROPE: TELECOM EQUIPMENT, BY COMPONENT, 2020-2027 (USD MILLION

TABLE 42 EUROPE: TELECOM EQUIPMENT MARKET, BY PRODUCT, 2020-2027 (USD MILLION) 66

TABLE 43 EUROPE: TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION) 67

TABLE 44 EUROPE: TELECOM EQUIPMENT MARKET, BY SERVICES, 2020-2027 (USD MILLION) 67

TABLE 45 EUROPE: TELECOM EQUIPMENT MARKET, THE PROFESSIONAL SERVICES, 2020-2027 (USD MILLION) 67

TABLE 46 EUROPE: TELECOM EQUIPMENT MARKET, BY INFRASTRUCTURE, 2020-2027 (USD MILLION) 68

TABLE 47 EUROPE: TELECOM EQUIPMENT MARKET, BY END-USER, 2020-2027 (USD MILLION) 69

TABLE 48 UK: TELECOM EQUIPMENT, BY COMPONENT, 2020-2027 (USD MILLION) 70

TABLE 49 UK: TELECOM EQUIPMENT MARKET, BY PRODUCTS, 2020-2027 (USD MILLION) 70

TABLE 50 UK: TELECOM EQUIPMENT MARKET, BY CORE NETWORK, 2020-2027 (USD MILLION) 71

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Competitive Analysis

The inclusion of certain elements of functionality in production facilities is likely to create better supply potential for the overall market. The effect of global currencies is expected to have a significant effect on market growth. The upsurge in exports is expected to create a constructive situation for expansion in the coming period. The influence of global trade policies by various administrations is expected to further enhance the market expansion potential in the forecast period. The momentum of change in the market is predicted to create new opportunities for growth in the forecast period. The availability of new sources of raw material is likely to induce more opportunities for growth in the market. The streamlining of the distribution channels is expected to create better supply chains and lead to a more positive effect on the global market. The inventions being discovered or attempted in the market are also considered to provide further opportunities for growth in the coming period.

The noteworthy contenders in the telecom equipment market are Alcatel Lucent S.A (France), Ciena (US), Cisco Systems, Inc (US), Huawei Technologies Co Ltd (China), Juniper Networks, Inc (US), Fujitsu Ltd (Japan), ZTE Corporation (China), Qualcomm, Inc (US), Ericsson (Sweden), and Motorola Solutions (US).

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Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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Data Centre Market Research Report - Global Forecast to 2023

Data Centre Market Research Report - Global Forecast to 2023

 Market Scenario

Data Centers refers to virtual or physical infrastructures that are used by enterprises to store a large amount of mission-critical data. The data centers assist in storage, retrieval, and processing of this data. These data center market

require multiple backs up supply units, networking connections, and cooling systems for running the enterprise's core applications. The data centers include a number of elements such as electrical switches, power distribution units, uninterruptible power supplies, ventilation, and provisions for network connectivity. Modern data centers make use of management and monitoring software that allows the IT administrators to oversee the equipment and monitor the facilities remotely.

Technology giants such as Digital Realty Trust, Inc. IBM Corporation, Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc., EMC Corporation, and CyrusOne are some of the major players in the global data center market. Digital Realty Trust, Inc. is one of the leading vendors of the data center market. It owns a range of data center solutions such as Electrical and Cooling systems, data center cages, and suites. The company focuses on building customized data centers, cages, and suites based on client needs. Whereas, IBM Corporation focuses on data center outsourcing, middleware services, storage services, and networking services. Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc. focus on building optimized operation for data center infrastructures.

Increasing demand for data storage management and cloud technology are major factors driving the growth of the global data center market. However, high initial cost of investment may hinder the market growth over the review period. The gaining popularity of the community cloud technology is expected to create lucrative opportunities for the market. 

The global data center market has been segmented on the basis of type, density, and vertical. The type segment is classified into corporate data centers and web hosting data centers. The corporate data center segment is expected to hold the major share of the market owing to the increasing demand for data storage management by large enterprises.

The North American region holds the largest share of the global market followed by Europe, and Asia Pacific regions. The U.S. and Canada are dominating the North American market due to rising technological enhancements and increasing popularity community cloud in the region. The region also has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, rising investment in the data centers in the U.S. is another major factor driving the growth of data center market in the region.

Global Data Center Market is expected to grow at a CAGR of approximately 11% during the forecast period 2017-2023.

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 Key Players

Some of the prominent players in the global data center market: Digital Realty Trust, Inc. (U.S), IBM Corporation (U.S), Hitachi Ltd (Japan), Cisco System, Inc. (U.S), Hewlett-Packard Inc. (U.S), EMC Corporation(U.S),  CyrusOne (U.S), Global Switch (U.K), DuPont Fabros Technology(U.S) and Telehouse (U.K).

 Segments

The global data center market is segmented by type, density, and vertical. Based on the type, the market is segmented into corporate data centers and web hosting data centers. Based on the density, the market is segmented into low, medium, high, and extreme. The vertical segment includes banking & financial services, telecom and IT, government, healthcare, and others. 

Regional Analysis

The global data center market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to rising investments in data centers and gaining importance of community cloud systems.

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Security Assurance Market Production Market by Major Players, Volume, Development, Opportunities, Market Dynamic Forces & Forecast 2024 | Analysis of COVID-19

Market Highlights

The research performed by MRFR tracks the aftermath of the COVID-19 pandemic. Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.

As per the analysis by Market Research Future Reports (MRFR), the global security assurance market is projected to record a CAGR of 10.4%, with a value of 6.71 billion by the end of 2024. The increasing adoption of cloud-based security assurance solutions among organizations is estimated to be a significant factor driving the global security assurance market 2020. The organizations across the globe are dependent on software to protect their data on cloud and premise, which has augmented the demand for software security assurance. Besides, the implementation of strict government rules and regulations has played an essential role in expanding the market. Moreover, the increasing implementation of third-party applications that protects the computing environment and data, deployed with the core software, is a significant factor resulting in market expansion. Furthermore, the increasingly connected mobile equipment and the rising trend of IoT is estimated to increase market expansion. On the other hand, security issues related to hybrid cloud security is estimated to impede market growth.

Key Players

The established market competitors of the worldwide security assurance market are Avaya Inc.(US), Aura Information Security (Australia), IBM Corporation (US), BizCarta Technologies India Pvt Ltd, Infosys Limited (India), CIPHER Security LLC (US), Micro Focus (UK), Telos Corporation (US), NETSCOUT (US), Tenable Inc. (US), SAS Institute Inc. (US), Radix Security Inc. (Israel), Capgemini (France), Spirent Communications (UK), and a few others.

Segmentation:

The worldwide security assurance market share is classified on the basis of vertical, application, organization size, and region.

On the basis of vertical, the worldwide security assurance market can be segregated into telecommunications and IT, banking, financial services and insurance (BFSI), healthcare and pharmaceuticals, retail and e-commerce, government, manufacturing, and others.

On the basis of application, the worldwide security assurance market can be segregated into business applications, mobility solutions, and systems and network infrastructure.

On the basis of organization size, the worldwide security assurance market can be segregated into small- and medium-sized enterprises (SME) and large enterprises.

On the basis of region, the worldwide security assurance market can be segregated into North America, Europe, Asia-Pacific, and the Rest of the World.

Regional Analysis

The geographical analysis of North America, Europe, Asia-Pacific, and the rest of the world has been conducted. As per the analysis by MRFR, North America is projected to dominate the global market. The research says that North America seizes the maximum market share due to the fast adoption of cloud-based technologies and the increasing strictness of data protection. Besides, there has been a rise in measures to protect the data and increase security, which propels the market. Among all nations, Canada, Mexico, and the US are the countries that make the most significant contribution to expanding the regional market.

On the other hand, Europe is anticipated to be the second-largest market during the forecast period. The most significant factor driving the market in the region is the demand to protect the data and reduce the increasing IT security threats.

The research reveals that the APAC region is estimated to augment at the fastest pace during the forecast tenure. SMEs situated in the region are inclining towards adopting the security assurance services, which the most significant driver causing the market expansion in the region.

However, the outbreak of pandemic coronavirus has affected several regional markets. The constant lockdown observed in several regions has changed the structure of the existing market.

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