#Global Cloud Operation Support And Business Support System 2022
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Pulp And Paper Automation Market : Technology Advancements, Industry Insights, Trends And Forecast 2033
The pulp and paper automation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pulp And Paper Automation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size - The pulp and paper automation market size has grown strongly in recent years. It will grow from $5.78 billion in 2023 to $6.32 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to demand for increased efficiency, integration of supply chain, focus on product quality and consistency, globalization of markets.
The pulp and paper automation market size is expected to see strong growth in the next few years. It will grow to $8.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to industry 4.0 integration, rising demand for sustainable solutions, advanced robotics and automation, remote monitoring and control, customization and personalization. Major trends in the forecast period include technological innovation, predictive maintenance, advanced analytics for decision support, cloud-based automation platforms, advancements in control systems.
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The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers - The increasing demand for industrial automation is expected to propel the growth of the pulp and paper automation market going forward. Industrial automation uses advanced technologies such as robotics, control systems, and computer software to streamline and optimize manufacturing processes, reducing human intervention and enhancing efficiency and productivity in industrial settings. Industrial automation systems monitor and control various pulp and paper production stages to improve product quality, reduce waste, and minimize energy consumption. For instance, in October 2022, according to the International Federation of Robotics report, a Germany-based non-profit organization, factories worldwide witnessed a record-breaking surge in the installation of industrial robots, reaching an all-time high of 517,385 units. The Americas experienced a notable increase, with 50,712 industrial robots installed, a 31% rise from the previous year. Specifically, installations soared by 14% within the United States, totaling 34,987 units in 2021. Therefore, the increasing demand for industrial automation is driving the growth of the pulp and paper automation market.
Market Trends - Major companies operating in the pulp and paper automation market are developing innovative products such as Bleached Chemi-Thermo Mechanical Pulp (BCTMP) technology to drive their revenues in the market. BCTMP is a mechanical pulping process that uses sodium sulfite for impregnation. The BCTMP technology produces high-brightness, hardwood-based, customized TCF (total chlorine-free) pulps for various uses, including printing and writing papers, tissue products, paperboard products, wood-free papers, and specialty papers. For instance, in January 2023, Valmet, a Europe-based developer and supplier of process technologies, automation, and services for the pulp, paper, and energy industries, launched the Valmet Polymer Concentration Measurement (Valmet PCM), an advanced optical inline polymer measurement system. This innovation is designed to measure polymer concentration in real-time, enabling the optimization of polymer usage in industrial wastewater treatment as well as in paper and board production applications. The Valmet PCM is the first of its kind, offering enhanced accuracy and efficiency in monitoring and controlling polymer concentration, ultimately contributing to improved process performance and resource utilization.
The pulp and paper automation market covered in this report is segmented –
1) By Product: Distributed Control Systems (DCS), Programmable Logic Controllers (PLCs), Supervisory Control And Data Acquisition (SCADA), Sensors And Transmitters, Flowmeters, manufacturing execution systems (MES), Asset Performance Management (APM), Advanced Process Control (APC), Other Products 2) By Application: Pre-Press Printing, Print and Publication, Paper Mills Processing, Paper Packaging 3) By End-User: Paper, Pulp, Tissue, Board
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Regional Insights - Europe was the largest region in the pulp and paper automation market in 2023. The regions covered in the pulp and paper automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies - Major companies operating in the pulp and paper automation market are Microsoft Corporation, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, IBM Corporation, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Emerson Electric Co., Parker Hannifin Corporation, Andritz AG, Rockwell Automation Inc., Omron Corporation, Fanuc Corporation, Fuji Electric Co. Ltd., Baker Hughes Company, NV Bekaert SA, BTG Group BV, Metso Corporation, Valmet Corporation, Voith Group, Yaskawa Electric Corporation, Pentair plc, Ecolab Inc. (formerly Nalco Holding Company), Yokogawa Electric Corporation, Solenis LLC, Kemira Oyj
Table of Contents 1. Executive Summary 2. Pulp And Paper Automation Market Report Structure 3. Pulp And Paper Automation Market Trends And Strategies 4. Pulp And Paper Automation Market – Macro Economic Scenario 5. Pulp And Paper Automation Market Size And Growth ….. 27. Pulp And Paper Automation Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix
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Revolutionizing Workforce Efficiency: The Growing Field Service Management Market
Field Service Management Industry Overview
The global field service management market size is expected to reach USD 11.78 billion by 2030, registering a CAGR of 13.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. Various other factors such as improper management of inventory, increased inventory cycle time, increased holding cost, increased ordering cost and incorrect information about the stock further increase the cost of business operations. FSM software helps to fortify the functionality of the service industry while improving overall profitability.
The main forces which are driving the market include the increase in number of field operations across manufacturing, oil & gas and construction sector., increase in the use of smartphone devices, and rising demand for better organizational efficiency and reduced cost of operations. The advancement of cloud services supports the integration of the cloud to the FSM software. This is expected to surge the FSM market growth over the next nine years. Over the forecast period, most of the end-use industries are expected to deploy the FSM software on the cloud rather than on the premise.
Gather more insights about the market drivers, restrains and growth of the Field Service Management Market
The global field service management market is anticipated to witness high growth over the forecast period. The high presence of smartphones and tablets are playing an important role in the overall growth of the FSM industry globally. FSM solutions are also compatible with next-generation smartphone operating systems, further boosting their importance across the competitive landscape.
Browse through Grand View Research's Communication Services Industry Research Reports.
The Africa roaming tariff market size was estimated at USD 2.36 billion in 2024 and is projected to grow at a CAGR of 5.6% from 2024 to 2030.
The global A2P messaging market size was estimated at USD 71.50 billion in 2024 and is projected to grow at a CAGR of 5.4% from 2025 to 2030.
Field Service Management Market Segmentation
Grand View Research has segmented the global field service management market based on component, deployment, enterprise, end-use and region:
Field Service Management Component Outlook (Revenue in USD Million, 2017 - 2030)
Solution
Mobile field execution
Service contract management
Warranty management
Workforce management
Customer management
Inventory management
Others
Services
Implementation
Training & support
Consulting & advisory
Field Service Management Deployment Outlook (Revenue in USD Million, 2017 - 2030)
On-Premise
Cloud
Field Service Management Enterprise Outlook (Revenue in USD Million, 2017 - 2030)
Large enterprises
SMEs
Field Service Management End-use Outlook (Revenue in USD Million, 2017 - 2030)
Energy & utilities
Telecom
Manufacturing
Healthcare
BFSI
Construction & real estate
Transportation & logistics
Retail & wholesale
Others
Field Service Management Regional Outlook (Revenue in USD Million, 2017 - 2030)
North America
US
Canada
Europe
UK
Germany
France
Asia Pacific
China
Japan
India
Australia
South Korea
Latin America
Brazil
Mexico
Middle East and Africa
Saudi Arabia
South Africa
UAE
Key Companies profiled:
IBM Corporation
Agile 3 Solutions LLC
Accenture
Comarch SA
Salesforce, Inc.
Infor
Klugo Group, SAP SE
Astea International, Inc.
Trimble Navigation Limited
Tech Mahindra Limited
Recent Developments
In September 2022, Tech Mahindra launched YANTR.AI, a new cognitive AI solution that enhances and simplifies field services. The solution is expected to provide actionable insights to enterprises for better planning and execution of field services. It further strengthens Tech Mahindra's Business Process as a Service (BPaaS) portfolio.
In July 2022, Accenture was selected by Hero MotoCorp Ltd. to help the company manage the increasing complexity of its products, markets, and supply chain networks. The program includes planning optimization, supply chain strategy, and logistics enhancement & cost optimization of overall digital supply chain suite.
In October 2021, Opsivity, a field support Software-as-a-Service (SaaS) provider, launched in the U.S. market. The company targets the fast-growing remote field operations sector, needing more skilled field technicians. Opsivity's SaaS solution uses AI and AR to help field technicians solve technical issues faster, increasing productivity in a labor-challenged industry.
In April 2020, IBM launched an equipment maintenance assistant, IBM Maximo, an AI-powered solution that helps organizations improve their asset maintenance program. The solution provides insights into equipment failure patterns and recommends the most effective repair methods. It helps to reduce knowledge gaps and silos within organizations, leading to faster repairs, lower costs, and extended asset life.
In August 2019, Salesforce announced the acquisition of ClickSoftware, a provider of field service management solutions. The acquisition will improve Salesforce Service Cloud by offering clients a more connected and intelligent customer service experience. Salesforce's acquisition of ClickSoftware enabled it to provide its customers with a full field service management solution. It enables firms to improve the efficiency and efficacy of their field service operations, resulting in better customer service.
Order a free sample PDF of the Field Service Management Market Intelligence Study, published by Grand View Research.
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Understanding Managed Services Market: Trends and Growth Drivers
The global managed services market size is projected to reach USD 731.08 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 13.6% from 2023 to 2030. Strengthening profit margins, which cater efficiently to the needs of dynamic business environments, and improvements in operational efficiency are also expected to contribute to the growth of the market. Benefits associated with managed services implementation, such as a significant reduction in IT operational expenses and increased organizational efficiency, are also anticipated to drive market growth.
Managed services help reduce recurring in-house IT expenditures by ensuring the IT infrastructure is running at optimal efficiency at all times while also automating business operations. This subsequently allows organizations to effectively achieve their business objectives, especially pertaining to strengthening the bottom line and increasing profitability. These initiatives also help various end-users, such as expert-led architectural design reviews, public sector, and government organizations to address unique digital transformation and accelerate cloud adoption.
For instance, in July 2023, MongoDB, Inc., a developer of the data platform, announced MongoDB Atlas for the public sector, an initiative that enables government agencies and public sector organizations to develop modern, data-driven applications that better serve end-users at MongoDB. local for government solutions platform. As part of the new initiative, public sector organizations can access tailored technology partnerships, expert-led architectural design reviews, and specific data to provide tailored technology training.
Gather more insights about the market drivers, restrains and growth of the Managed Services Market
Managed Services Market Report Highlights
• In terms of solution, the managed security segment is anticipated to register the fastest CAGR of 14.7% over the forecast period owing to the adoption of managed security services in end-use industries. This segment offers various benefits such as security monitoring & management, email threat management, restoral management & backups, and support & maintenance management, among others
• In terms of managed information services, the business support systems segment is anticipated to register the fastest CAGR of 14.2% from 2023 to 2030. The increasing adoption of business support system services such as business analysis, database integration, demand management service, and project management in end-use industries is anticipated to propel the growth of the segment over the forecast period
• In terms of deployment, the on-premise segment dominated the market in 2022 with a revenue share of 64.4%. Numerous organizations have adopted the on-premise mode of deployment as it does not require an internet connection and allows easy customization of software to suit the business process requirements of clients
• Based on enterprise size, the small & medium enterprises (SMEs) segment is anticipated to register the fastest CAGR of 14.3% from 2023 to 2030. Increasing government initiatives through various digital SME campaigns globally is expected to drive the growth of the SME segment over the forecast period
• In terms of end-use, the healthcare segment is anticipated to register the fastest CAGR of 14.7% over the forecast period. Several healthcare organizations are opting for managed services to protect patient data and secure monetary transactions, thereby contributing to the segment's growth
• In terms of region, North America held the largest market share in 2022 with a revenue share of over 30%. The rising number of multinational companies (MNCs) in North America bodes well for the regional market growth
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
• The global voice communication control system market size was estimated at USD 4.26 billion in 2024 and is projected to grow at a CAGR of 6.9% from 2025 to 2030.
• The global mobile payment market size was valued at USD 88.50 billion in 2024 and is projected to grow at a CAGR of 38.0% from 2025 to 2030.
Managed Services Market Segmentation
Grand View Research has segmented the global managed services market report based on solution, managed information service (MIS), deployment, enterprise size, end use, and region:
Managed Services Solution Outlook (Revenue, USD Billion, 2018 - 2030)
• Managed IT Infrastructure & Data Center
o Server Management
o Storage Management
o Managed Print Services
o Others
• Managed Network
o Managed Wi-Fi
o Managed LAN
o Managed VPN
o Managed WAN
o Network Monitoring
o Others
• Managed Mobility
o Application Management
o Device Life Cycle Management
• Managed Communication & Collaboration
o Managed Voice over Internet Protocol (VoIP)
o Managed Unified Communications as a Service (UCaaS)
o Others
• Managed Information
o Managed Operational Support Systems/Business Support Systems (OSS/BSS)
o Business Process Management
• Managed Security
o Managed Firewall
o Managed Vulnerability Management
o Managed Risk & Compliance Management
o Managed Antivirus/Antimalware
o Managed Encryption
o Managed Unified Threat Management
o Managed Security Information & Event Management (SIEM)
o Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS)
o Others
• Managed Backup and Recovery
Managed Services Managed Information Service (MIS) Outlook (Revenue, USD Billion, 2018 - 2030)
• Business Process Outsourcing (BPO)
• Business Support Systems
• Project & Portfolio Management
• Others
Managed Services Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
• On-premise
• Hosted
Managed Services Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
• Small & Medium Enterprises (SMEs)
• Large Enterprises
Managed Services End-use Outlook (Revenue, USD Billion, 2018 - 2030)
• BFSI
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Media & Entertainment
• Retail
• Others
Managed Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o Japan
o China
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
• Middle East & Africa (MEA)
o United Arab Emirates (UAE)
o Saudi Arabia
o South Africa
Order a free sample PDF of the Managed Services Market Intelligence Study, published by Grand View Research.
#Managed Services Market#Managed Services Market Analysis#Managed Services Market Size#Managed Services Market Share#Managed Services Market Report
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Global Observability Tools and Platforms Market Analysis 2024: Size Forecast and Growth Prospects
The observability tools and platforms global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Observability Tools and Platforms Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size - The observatory tools and platforms market size has grown rapidly in recent years. It will grow from $2.54 billion in 2023 to $2.85 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to regulatory compliance, aging infrastructure, increased complexity of operations, focus on operational efficiency, growing awareness of predictive maintenance.
The observatory tools and platforms market size is expected to see rapid growth in the next few years. It will grow to $4.43 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to industry 4.0 integration, sustainability and environmental concerns, globalization of supply chains, rise of performance-based contracts, increased emphasis on data-driven decision-making. Major trends in the forecast period include edge computing integration, artificial intelligence and machine learning adoption, blockchain for asset management, augmented reality (AR) for maintenance support, subscription-based and cloud solutions.
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Scope Of Observability Tools and Platforms Market The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Observability Tools and Platforms Market Overview
Market Drivers - The increasing adoption of IoT is expected to propel the growth of the observability tools and platforms market going forward. Internet of Things (IoT) encompasses a network of interlinked physical devices, vehicles, appliances, and other objects equipped with sensors, software, and connectivity, facilitating the gathering and sharing of data. and network connectivity, enabling them to collect and exchange data. The advancements in areas such as artificial intelligence (AI) and machine learning (ML) are enabling deeper analysis of IoT data and unlocking new applications. Observability tools and platforms enable the collection, analysis, and visualization of vast amounts of data generated by IoT devices, aiding operators and developers in understanding system performance, identifying anomalies, and optimizing operations. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunication company, broadband IoT (4G/5G), the primary connectivity for most cellular IoT devices, achieved 1.3 billion connections in 2022 and nearly 60% of cellular IoT connections are projected to be broadband IoT connections by 2026, predominantly using 4G. Further, Northeast Asia currently leads in cellular IoT connections and is expected to exceed 2 billion connections in 2023. Therefore, the increasing adoption of IoT is driving the growth of the observability tools and platforms market
Market Trends - Major companies operating in the observability tools and platforms market are developing advanced technologies, such as artificial intelligence (AI)-powered observability assistants, to gain a competitive edge in the market. These solutions utilize artificial intelligence techniques to collect, analyze, and interpret telemetry data such as logs, metrics, and traces within a software system. For instance, in May 2023, New Relic, a US-based software development company, launched relic grok, an AI-powered observability assistant. It is uniquely designed by leveraging generative AI and openAI's language models, to simplify observability for engineers. The users can interact in natural language to set up instrumentation, troubleshoot issues, generate reports, and manage accounts. Grok performs AI-driven root cause analysis, assists with code-level issue resolution, and automates reporting to support multiple languages and handle administrative tasks.
The observability tools and platforms market covered in this report is segmented –
1) By Component: Solution, Services 2) By Deployment Type: Public Cloud, Private Cloud 3) By End User: Banking, Financial Services And Insurance, Healthcare And Life Sciences, Retail And E-commerce, Manufacturing, Telecom And Information Technology, Government And Public Sector, Media And Entertainment, Other End Users
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Regional Insights - North America was the largest region in the observatory tools and platforms market in 2023. The regions covered in the observability tools and platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies - Microsoft Corporation, International Business Machines Corporation (IBM), Broadcom Inc., Splunk Inc., Datadog Inc., ScienceLogic, Inc., Dynatrace Inc., Elastic N.V., New Relic Inc., SolarWinds Worldwide, LLC, Riverbed Technology LLC, Sumo Logic Inc., GitLab Inc., Nexthink S.A., Grafana Labs, AppDynamics LLC, LogicMonitor Inc., Auvik Networks Inc., Monte Carlo Data Inc., Honeycomb.io Inc., Graylog Inc., Sysdig Inc., Raygun Inc., Acceldata Inc., Lightstep Inc., StackState B.V., Instana Inc.
Table of Contents 1. Executive Summary 2. Observability Tools and Platforms Market Report Structure 3. Observability Tools and Platforms Market Trends And Strategies 4. Observability Tools and Platforms Market – Macro Economic Scenario 5. Observability Tools and Platforms Market Size And Growth ….. 27. Observability Tools and Platforms Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix
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Industrial Snapshot of Medication Management System Market
The Medication Management System Market Report is a treasured source of insightful data for business strategists. It provides an in-depth assessment of numerous features of industries like market overview, present progress valuations, historical and future Studies, current trends, SWOT valuations, and clients operating in several regions. The study provides valuable information to magnify the understanding, scope, and segments of this report. The report covers a comprehensive analysis of Medication Management System Market segmentation, regional and country breakdowns. This research will offer a clear and exact idea about the whole industry to the readers to make beneficial decisions.
According to Straits Research, the global Medication Management System��market size was valued at USD 2.22 Billion in 2021. It is projected to reach from USD XX Billion in 2022 to USD 5.79 Billion by 2030, growing at a CAGR of 11.25% during the forecast period (2022–2030).
This study pinpoints noteworthy trends influencing the trajectory of the Gesture Recognition market's expansion. Within this recently issued report, crucial dynamics encompassing drivers, limitations, and prospects are underscored. These aspects hold relevance for well-established market entities as well as emerging stakeholders engaged in the realms of production and supply.
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Competitive Analysis
The report contains an in-depth analysis of the vendor’s profile, including financial health, business units, key business priorities, SWOT, strategies, and views.
QuadraMed Affinity Corporation
Allscripts
Healthcare Solutions
ARxIUM
BD
Cerner Corporation
GE Healthcare
McKesson Corporation
Talyst LLC
Siemens Healthcare Private Limited
Optum Inc.
Medical Information Technology Inc.
BIQHS
Wiegand AG
NEXUS AG
Genoa
Medication Management Systems Inc
Omnicell Inc.
The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant R&D investments.
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Vendors across different verticals are planning for high investments in this market, and as a result, the market is expected to grow at an impressive rate in the upcoming years. The key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, collaboration & partnerships, joint ventures, and a few other strategies to be in a strong position in the global market.
Market Segmentation Analysis
The report provides a wide-ranging evaluation of the market, providing in-depth qualitative insights, historical data, and supportable projections along with the assumptions about the Medication Management System Market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, white papers, and vendor presentations. Thus, the research report represents every side of the Medication Management System Market and is segmented on the basis of regional markets, offerings, applications, and end-users.
By Software
Computerized Physician Order Entry (CPOE)
Clinical Decision Support System Solution
Electronic Medication Administration Record
Inventory Management Solutions
Other Software
By Mode of Delivery
On-premises Solutions
Web-based Solutions
Cloud-based Solutions
By End-use
Hospitals
Pharmacies
Other Healthcare Institutions
Access Detailed Segmentation @ https://straitsresearch.com/report/medication-management-system-market/segmentation
Regional Analysis for Medication Management System Market
The regional analysis offers a comprehensive view of the Medication Management System Market sales and growth across global and country-level markets. It provides volume and market size data by region, with insights into growth trends in countries like the United States, Canada, Germany, France, China, Japan, and more. The analysis also covers major regions such as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Benefits
Medication Management System Market Industry companies to ensure business continuity with powerful protection by constantly checking the report and representing attractive growth opportunities for the companies. Medication Management System Market handles all the needs of the operators by allowing them to improve their services and concentrate on their core business. Medication Management System Market Research aims to increase business agility and reduce operational and capital expenditure with improved technology rollouts and capacity planning. The report discusses service types and regions related to this Medication Management System Market. Further, the report provides details about the major challenges affecting the market growth.
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Other Features of the Report:
Provides a thorough analysis of the key strategies with a focus on the corporate structure, R&D methods, localization strategies, production capabilities, sales, and performance in various companies.
Provides valuable insights into the product portfolio, including product planning, development, and positioning.
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
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Smart Cities Market 2030 Outlook by Growth Rate, Trends, Size and Opportunities
The global smart cities market was valued at USD 748.7 billion in 2023 and is expected to expand significantly, with a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. Key factors fueling this growth include rapid urbanization, the need for more efficient resource management, rising public safety concerns, and increasing demands for energy-efficient environments. Urban areas are now recognizing the importance of integrating digital technologies like IoT and artificial intelligence (AI) to enhance city operations, especially after the COVID-19 pandemic emphasized the vulnerabilities and dependency of economies on urban infrastructure. During the pandemic, strict lockdowns and mobility restrictions underscored the significance of healthcare and public safety within smart city initiatives. In response, many cities began focusing on incorporating smart healthcare solutions and digitally-driven public safety systems to address future emergencies and public health needs.
With growing urban populations, the demand for sustainable infrastructure has become a central driver for the smart cities market. Governments worldwide are addressing these demands through various smart city projects targeting areas like mobility, energy, utility management, safety, and governance. In many regions, local authorities are taking the lead by initiating organizational changes, securing investments, and building consortiums to bring together diverse stakeholders. A new wave of public-private partnerships is emerging, specifically to accelerate smart city development. Furthermore, financing models, such as government funding for infrastructure and innovative governance structures, play crucial roles in advancing smart city initiatives.
Gather more insights about the market drivers, restrains and growth of the Smart Cities Market
The market's growth is closely linked to the adoption of cutting-edge technologies, including nanotechnology, AI, machine learning (ML), cloud computing, IoT, cognitive computing, big data analytics, and open data. Additionally, the use of various business models like Build-Own-Operate (BOO), Build-Operate-Transfer (BOT), Original Brand Manufacturer (OBM), and Bill of Material (BOM) models has enabled more efficient and successful smart city project execution. In Asia, governments are actively promoting digital technology adoption in smart city projects while balancing consumer data privacy concerns. Globally, government-backed initiatives to support digital transformation and smart infrastructure development continue to drive market expansion.
Smart Utilities Segmentation Insights:
Within the smart utilities sector, the energy management segment led the market in 2022, accounting for over 55% of revenue. This high demand for energy solutions in urban areas has encouraged the adoption of advanced energy management systems, such as virtual power plants (VPPs) that leverage AI, ML, and IoT to ensure security and operational efficiency. Leading industry players are focusing on establishing robust research and development (R&D) frameworks to drive innovation in energy management and design analytics solutions. Emerging technologies like blockchain are being integrated into these systems to enhance transparency and data security within smart energy grids.
The waste management segment is also expected to experience significant growth, with a forecasted CAGR of 27.0% over the coming years. Urbanization has intensified waste generation in cities, prompting several governments to collaborate with system integrators, distributors, and original equipment manufacturers (OEMs) for smart waste management solutions. This includes the installation of smart trash bins in cities, enabling real-time monitoring and efficient waste disposal management. Local governments, technology providers, distributors, and system integrators are all key stakeholders in implementing these city-wide waste management solutions. To further support waste management efforts, mobile applications are being developed that allow users to monitor bin fill levels, adding convenience for both citizens and municipal waste handlers. OEMs and system integrators are particularly focused on deploying smart waste solutions in crowded venues that generate high volumes of waste, such as public events, transportation hubs, and large commercial areas, thus contributing to the growth of the smart cities market.
In summary, the smart cities market is set for robust growth, driven by urbanization, public safety, and the need for sustainable resource management. With technology-driven solutions spanning energy, waste, mobility, and infrastructure, smart cities represent an integrated approach to creating more livable, efficient, and resilient urban spaces for the future.
Order a free sample PDF of the Smart Cities Market Intelligence Study, published by Grand View Research.
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Smart Cities Industry Competitive Landscape and Industry Analysis 2030
The global smart cities market was valued at USD 748.7 billion in 2023 and is expected to expand significantly, with a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. Key factors fueling this growth include rapid urbanization, the need for more efficient resource management, rising public safety concerns, and increasing demands for energy-efficient environments. Urban areas are now recognizing the importance of integrating digital technologies like IoT and artificial intelligence (AI) to enhance city operations, especially after the COVID-19 pandemic emphasized the vulnerabilities and dependency of economies on urban infrastructure. During the pandemic, strict lockdowns and mobility restrictions underscored the significance of healthcare and public safety within smart city initiatives. In response, many cities began focusing on incorporating smart healthcare solutions and digitally-driven public safety systems to address future emergencies and public health needs.
With growing urban populations, the demand for sustainable infrastructure has become a central driver for the smart cities market. Governments worldwide are addressing these demands through various smart city projects targeting areas like mobility, energy, utility management, safety, and governance. In many regions, local authorities are taking the lead by initiating organizational changes, securing investments, and building consortiums to bring together diverse stakeholders. A new wave of public-private partnerships is emerging, specifically to accelerate smart city development. Furthermore, financing models, such as government funding for infrastructure and innovative governance structures, play crucial roles in advancing smart city initiatives.
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The market's growth is closely linked to the adoption of cutting-edge technologies, including nanotechnology, AI, machine learning (ML), cloud computing, IoT, cognitive computing, big data analytics, and open data. Additionally, the use of various business models like Build-Own-Operate (BOO), Build-Operate-Transfer (BOT), Original Brand Manufacturer (OBM), and Bill of Material (BOM) models has enabled more efficient and successful smart city project execution. In Asia, governments are actively promoting digital technology adoption in smart city projects while balancing consumer data privacy concerns. Globally, government-backed initiatives to support digital transformation and smart infrastructure development continue to drive market expansion.
Smart Utilities Segmentation Insights:
Within the smart utilities sector, the energy management segment led the market in 2022, accounting for over 55% of revenue. This high demand for energy solutions in urban areas has encouraged the adoption of advanced energy management systems, such as virtual power plants (VPPs) that leverage AI, ML, and IoT to ensure security and operational efficiency. Leading industry players are focusing on establishing robust research and development (R&D) frameworks to drive innovation in energy management and design analytics solutions. Emerging technologies like blockchain are being integrated into these systems to enhance transparency and data security within smart energy grids.
The waste management segment is also expected to experience significant growth, with a forecasted CAGR of 27.0% over the coming years. Urbanization has intensified waste generation in cities, prompting several governments to collaborate with system integrators, distributors, and original equipment manufacturers (OEMs) for smart waste management solutions. This includes the installation of smart trash bins in cities, enabling real-time monitoring and efficient waste disposal management. Local governments, technology providers, distributors, and system integrators are all key stakeholders in implementing these city-wide waste management solutions. To further support waste management efforts, mobile applications are being developed that allow users to monitor bin fill levels, adding convenience for both citizens and municipal waste handlers. OEMs and system integrators are particularly focused on deploying smart waste solutions in crowded venues that generate high volumes of waste, such as public events, transportation hubs, and large commercial areas, thus contributing to the growth of the smart cities market.
In summary, the smart cities market is set for robust growth, driven by urbanization, public safety, and the need for sustainable resource management. With technology-driven solutions spanning energy, waste, mobility, and infrastructure, smart cities represent an integrated approach to creating more livable, efficient, and resilient urban spaces for the future.
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Immersion Cooling Market 2030 Regional Outlook, Share, Type and Application, Trends
The global immersion cooling market was valued at USD 197.0 million in 2022 and is projected to grow at a robust compound annual growth rate (CAGR) of 22.6% from 2023 to 2030. This growth is largely fueled by the increasing demand for cost-effective and energy-efficient cooling solutions for data centers. Immersion cooling, a process where components are submerged in a thermally conductive but electrically insulating liquid, offers substantial advantages over traditional air-cooling methods, making it a compelling choice for large-scale data operations.
During the COVID-19 pandemic in 2020, global lockdowns disrupted industry expansion, delaying data center consolidation efforts as the movement of servers, closure of facilities, and construction of new sites became challenging. Despite these obstacles, demand for data centers surged, primarily due to the global shift toward remote work and a significant increase in e-commerce activities.
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In the United States, the immersion cooling market is experiencing transformation as companies in this sector expand capacity to meet the growing needs of data centers. The COVID-19 pandemic accelerated the shift to digital platforms, with more businesses and consumers embracing e-commerce and online services. The need for reliable Internet of Things (IoT) capabilities and cloud computing infrastructure in the U.S. is expected to sustain high demand for data centers, especially hyper-scale data centers, which are designed to accommodate large-scale data storage and management efficiently. Unlike traditional data centers, hyper-scale facilities are equipped to handle high data traffic and intensive computing workloads, making them ideal for emerging technologies and digital applications.
The immersion cooling market comprises various global and regional players offering proprietary solutions, with some companies modifying existing Information Technology Equipment (ITE) to be compatible with immersion cooling technology. Customization is a key strategy in this market, as manufacturers often tailor solutions to meet the specific needs of their clients.
The demand for IoT and cloud infrastructure continues to grow, leading to an increased need for hyper-scale data centers. These large-scale facilities allow digital platforms to manage data storage and transfer more efficiently, catering to the expanding requirements of high-volume data traffic and intensive computing workloads.
Application Segmentation Insights:
In terms of applications, high-performance computing (HPC) was the leading segment in 2022, accounting for 34.6% of the global revenue share. Immersion cooling offers significant advantages for HPC systems, including reduced latency, improved energy efficiency, and the potential for heat reuse in industrial or urban settings. Furthermore, immersion cooling allows for rapid deployment with edge-ready solutions, making it suitable for locations where conventional cooling systems are not feasible. The technology also supports cooling of high chip densities without water waste, aligning with sustainable cooling goals.
The demand for cryptocurrency mining has grown substantially, driven by cryptocurrency’s benefits such as faster international transfers, decentralized operation, fraud protection, and enhanced transactional security. Cryptocurrency mining operations require high-performance systems that are often overclocked to maximize hash rates, and immersion cooling helps maintain the temperatures of these high-power systems efficiently. This cooling method reduces both operational and capital expenses in cryptocurrency mining, making it more cost-effective for miners to achieve their desired processing performance without overheating.
Artificial Intelligence (AI) is another segment expected to experience rapid growth, with a projected CAGR of 26.3% over the forecast period. Several factors contribute to this growth, including a resurgence in AI research in the U.S., the widespread adoption of deep learning technologies by major companies like Facebook, Google, Microsoft, and Amazon, and a rising demand for AI-driven applications. Additionally, Israel’s robust AI ecosystem is contributing to the growing demand for high-performance servers capable of managing the increased load. This upsurge in AI applications is anticipated to drive the immersion cooling market as AI servers require efficient cooling solutions to manage their significant computational workloads.
Immersion cooling systems are especially valuable for supporting large computing workloads in small or constrained spaces where traditional cooling options may be unavailable or unsuitable. This technology reduces energy consumption in edge computing environments, where cooling solutions are critical, but high-capacity power sources may not always be accessible. Immersion liquid cooling enables efficient deployment at edge locations, offering a solution that conserves energy and is adaptable to diverse environments where space or power constraints might otherwise limit the effectiveness of traditional cooling methods.
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Immersion Cooling Market Strategy Analysis Report by 2030
The global immersion cooling market was valued at USD 197.0 million in 2022 and is projected to grow at a robust compound annual growth rate (CAGR) of 22.6% from 2023 to 2030. This growth is largely fueled by the increasing demand for cost-effective and energy-efficient cooling solutions for data centers. Immersion cooling, a process where components are submerged in a thermally conductive but electrically insulating liquid, offers substantial advantages over traditional air-cooling methods, making it a compelling choice for large-scale data operations.
During the COVID-19 pandemic in 2020, global lockdowns disrupted industry expansion, delaying data center consolidation efforts as the movement of servers, closure of facilities, and construction of new sites became challenging. Despite these obstacles, demand for data centers surged, primarily due to the global shift toward remote work and a significant increase in e-commerce activities.
Gather more insights about the market drivers, restrains and growth of the Immersion Cooling Market
In the United States, the immersion cooling market is experiencing transformation as companies in this sector expand capacity to meet the growing needs of data centers. The COVID-19 pandemic accelerated the shift to digital platforms, with more businesses and consumers embracing e-commerce and online services. The need for reliable Internet of Things (IoT) capabilities and cloud computing infrastructure in the U.S. is expected to sustain high demand for data centers, especially hyper-scale data centers, which are designed to accommodate large-scale data storage and management efficiently. Unlike traditional data centers, hyper-scale facilities are equipped to handle high data traffic and intensive computing workloads, making them ideal for emerging technologies and digital applications.
The immersion cooling market comprises various global and regional players offering proprietary solutions, with some companies modifying existing Information Technology Equipment (ITE) to be compatible with immersion cooling technology. Customization is a key strategy in this market, as manufacturers often tailor solutions to meet the specific needs of their clients.
The demand for IoT and cloud infrastructure continues to grow, leading to an increased need for hyper-scale data centers. These large-scale facilities allow digital platforms to manage data storage and transfer more efficiently, catering to the expanding requirements of high-volume data traffic and intensive computing workloads.
Application Segmentation Insights:
In terms of applications, high-performance computing (HPC) was the leading segment in 2022, accounting for 34.6% of the global revenue share. Immersion cooling offers significant advantages for HPC systems, including reduced latency, improved energy efficiency, and the potential for heat reuse in industrial or urban settings. Furthermore, immersion cooling allows for rapid deployment with edge-ready solutions, making it suitable for locations where conventional cooling systems are not feasible. The technology also supports cooling of high chip densities without water waste, aligning with sustainable cooling goals.
The demand for cryptocurrency mining has grown substantially, driven by cryptocurrency’s benefits such as faster international transfers, decentralized operation, fraud protection, and enhanced transactional security. Cryptocurrency mining operations require high-performance systems that are often overclocked to maximize hash rates, and immersion cooling helps maintain the temperatures of these high-power systems efficiently. This cooling method reduces both operational and capital expenses in cryptocurrency mining, making it more cost-effective for miners to achieve their desired processing performance without overheating.
Artificial Intelligence (AI) is another segment expected to experience rapid growth, with a projected CAGR of 26.3% over the forecast period. Several factors contribute to this growth, including a resurgence in AI research in the U.S., the widespread adoption of deep learning technologies by major companies like Facebook, Google, Microsoft, and Amazon, and a rising demand for AI-driven applications. Additionally, Israel’s robust AI ecosystem is contributing to the growing demand for high-performance servers capable of managing the increased load. This upsurge in AI applications is anticipated to drive the immersion cooling market as AI servers require efficient cooling solutions to manage their significant computational workloads.
Immersion cooling systems are especially valuable for supporting large computing workloads in small or constrained spaces where traditional cooling options may be unavailable or unsuitable. This technology reduces energy consumption in edge computing environments, where cooling solutions are critical, but high-capacity power sources may not always be accessible. Immersion liquid cooling enables efficient deployment at edge locations, offering a solution that conserves energy and is adaptable to diverse environments where space or power constraints might otherwise limit the effectiveness of traditional cooling methods.
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Event Management Software Market - Changing Supply and Demand Scenarios By 2030
Event Management Software Market
The global event management software market size was estimated at USD 6.97 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030.
With the proliferation of technology, event management software has strong data-handling attributes. It enables event managers to gather and evaluate data on participant population demographics, opinions, and behavior. The data gathered can assist event organizers in making informed choices, enhancing future events, and customizing overall experience to the needs of participants. These factors are driving market growth. Event management has grown in importance globally as the range of worldwide conferences, exhibits, and cultural events has increased. Cultural variations, communication hurdles, and foreign logistics are all managed by event organizers.
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Event Management Software Market Segmentation
Grand View Research has segmented the event management software market report based on component, deployment, enterprise size, application, and region:
Component Outlook (Revenue, USD Billion, 2018 - 2030)
Software
Event Planning
Event Marketing
Venue & Ticket Management
Analytics and Reporting
Others
Services
Professional Services
Consulting
Deployment & Integration
Support & Maintenance
Managed Services
Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
Cloud-based
On-premises
Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
Small and Medium-sized Enterprise
Large Enterprise
Application Outlook (Revenue, USD Billion, 2018 - 2030)
Event Organizers & Planners
Corporate
Government
Education
Others
Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
US
Canada
Europe
UK
Germany
France
Italy
Spain
Asia Pacific
China
India
Japan
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
UAE
Saudi Arabia
South Africa
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The global blockchain supply chain market size was estimated at USD 2.26 billion in 2023 and is expected to grow at a CAGR of 90.2% from 2024 to 2030.
The global database management system market size was estimated at USD 100.79 billion in 2023 and is expected to grow at a CAGR of 13.1% from 2024 to 2030.
Key Companies & Market Share Insights
The key players are investing resources in research & development activities to support growth and enhance their internal business operations. The report will include company analysis based on their financial performances, product benchmarking, key business strategies, and recent strategic alliances. Companies can be seen engaging in mergers & acquisitions, and partnerships to further upgrade their products and gain a competitive advantage in the market.
They are effectively working on new product development and enhancement of existing products to acquire new customers and capture more market shares. For instance, in April 2023, Eventdex.com announced a strategic partnership with One World Rental, an event technology rental company that offers laptops, iPad, and VR equipment for events. This collaboration is expected to strengthen Eventdex.com’s event management solution offerings, including both software and hardware. Some of the prominent players operating in the global event management software market include:
Active Network LLC
Arlo
Stova
Bitrix24
Eventdex.com
Hopin
webMOBI
Whova
Certain, Inc.
Cvent, Inc.
EMS Software LLC
EventBrite
Rainfocus
Ungerboeck
Zoho Corporation Pvt. Ltd.
Recent Development
In April 2023, Cevent, Inc. announced a strategic partnership with Jifflenow, a B2B meeting platform. The partnership is aimed at streamlining bookings of in-person meetings at corporate events and tradeshows for customers of both companies.
In April 2023, Eventbrite launched RECONVENE Accelerator in 2022, a mentorship and award program, to empower and motivate the next generation of event creators. In addition to the following development, the company introduced a panel of judges to select five winners, who are expected to receive a sum of USD 20 thousand, along with a personal mentorship program from Eventbrite.
In March 2023, Whova announced that its event registration system is now available in 39 countries, with newly added 16 countries in the list. The following initiative is expected to help Whova in expanding its global reach and serve customers globally.
In March 2022, Cevent, Inc. announced the acquisition of Blackstone in a transaction of USD 4.6 billion. Blackstone has expertise in the hospitality and event industry. Cevent, Inc. aimed to expand its business and launch innovative solutions to power the events and meetings ecosystem.
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Seamless Transitions: Unlocking the Power of Cloud Migration Services
The global cloud migration services market is experiencing remarkable expansion, driven by the increasing adoption of cloud technologies and the need for businesses to modernize their IT infrastructures. Valued at approximately USD 150 billion in 2022, the market is projected to reach around USD 550 billion by 2028, growing at a compound annual growth rate (CAGR) of 24.86% during the forecast period from 2022 to 2028. This growth underscores the accelerating shift towards cloud-based solutions and the strategic importance of cloud migration for enterprises across various sectors.
Why Cloud Migration Services?
Cloud migration services are crucial for businesses looking to transition their data, applications, and workloads from on-premises systems to cloud environments. This migration facilitates improved scalability, flexibility, and cost-efficiency, enabling organizations to leverage cloud technologies for enhanced performance and innovation. As companies seek to modernize their IT infrastructure and stay competitive, cloud migration has become a strategic priority.
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Market Dynamics and Growth Drivers
Several factors are fueling the growth of the global cloud migration services market:
Digital Transformation: The ongoing digital transformation across industries is driving the demand for cloud migration services. Organizations are increasingly adopting cloud solutions to enhance operational efficiency, agility, and customer engagement.
Scalability and Flexibility: Cloud migration offers businesses the ability to scale resources quickly and adapt to changing demands. This flexibility is particularly appealing to organizations looking to optimize their IT infrastructure and reduce capital expenditures.
Cost Efficiency: Migrating to the cloud can lead to significant cost savings by reducing the need for on-premises hardware, maintenance, and operational expenses. The pay-as-you-go model of cloud services further enhances cost efficiency.
Enhanced Security and Compliance: Cloud providers offer advanced security features and compliance certifications that help organizations safeguard their data and meet regulatory requirements. This is a key driver for businesses seeking to improve their security posture.
Innovation and Competitive Advantage: Cloud migration enables organizations to access cutting-edge technologies and services, such as artificial intelligence, machine learning, and big data analytics. Leveraging these technologies provides a competitive edge and fosters innovation.
Regional Analysis
North America: North America is a leading market for cloud migration services, driven by a high level of technological adoption and the presence of major cloud service providers. The U.S. and Canada are significant contributors to market growth, supported by strong enterprise demand and innovation.
Europe: The European market is experiencing robust growth in cloud migration services, driven by digital transformation initiatives and increasing investments in cloud infrastructure. Countries such as Germany, the U.K., and France are key players in the market.
Asia-Pacific: The Asia-Pacific region is witnessing rapid growth in cloud migration services due to increasing cloud adoption among businesses, expanding IT infrastructure, and supportive government policies. Emerging markets in this region are contributing significantly to market expansion.
Latin America and Middle East & Africa: These regions are seeing gradual growth in cloud migration services, driven by increasing digitalization and investments in cloud technologies. Market growth is supported by rising demand for cloud solutions and infrastructure development.
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Competitive Landscape
The cloud migration services market is highly competitive, with several key players and emerging companies offering a range of services. Key players include:
Amazon Web Services (AWS): A global leader in cloud services, AWS provides a comprehensive suite of cloud migration tools and services to support businesses in their migration journey.
Microsoft Azure: Microsoft Azure offers a wide range of cloud migration solutions and services, helping organizations transition their IT workloads and applications to the cloud efficiently.
Google Cloud Platform: Google Cloud provides cloud migration services with a focus on advanced analytics, artificial intelligence, and data management, supporting businesses in their cloud transformation efforts.
IBM Cloud: IBM Cloud offers cloud migration services tailored to enterprise needs, including hybrid and multi-cloud solutions, helping organizations modernize their IT infrastructure.
Challenges and Opportunities
The cloud migration services market faces challenges such as data security concerns, integration complexities, and the need for skilled professionals. Additionally, organizations may encounter resistance to change and potential disruptions during the migration process.
However, there are significant opportunities for growth. Companies that focus on developing innovative migration solutions, enhancing security measures, and providing comprehensive support services are well-positioned to capture market share. The increasing demand for cloud technologies and the strategic benefits of cloud migration present ample opportunities for investment and expansion.
Conclusion
The global cloud migration services market is set for substantial growth, driven by digital transformation, scalability, cost efficiency, and enhanced security. With revenue expected to reach approximately USD 550 billion by 2028, the market offers significant opportunities for innovation and investment. As organizations continue to embrace cloud technologies, cloud migration services will play a pivotal role in enabling successful digital transformations and achieving business objectives.
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Managed Services Market Future Outlook: Analyzing Size, Share, and Growth Patterns
The global managed services market size is projected to reach USD 731.08 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 13.6% from 2023 to 2030. Strengthening profit margins, which cater efficiently to the needs of dynamic business environments, and improvements in operational efficiency are also expected to contribute to the growth of the market. Benefits associated with managed services implementation, such as a significant reduction in IT operational expenses and increased organizational efficiency, are also anticipated to drive market growth.
Managed services help reduce recurring in-house IT expenditures by ensuring the IT infrastructure is running at optimal efficiency at all times while also automating business operations. This subsequently allows organizations to effectively achieve their business objectives, especially pertaining to strengthening the bottom line and increasing profitability. These initiatives also help various end-users, such as expert-led architectural design reviews, public sector, and government organizations to address unique digital transformation and accelerate cloud adoption.
For instance, in July 2023, MongoDB, Inc., a developer of the data platform, announced MongoDB Atlas for the public sector, an initiative that enables government agencies and public sector organizations to develop modern, data-driven applications that better serve end-users at MongoDB.local for government solutions platform. As part of the new initiative, public sector organizations can access tailored technology partnerships, expert-led architectural design reviews, and specific data to provide tailored technology training.
Several businesses encountered challenges due to the COVID-19 pandemic, and managed services providers (MSPs) were no exception. Organizations globally opted for managed services to ensure operational efficiency amid lockdowns being implemented across various nations due to coronavirus. Organizational spending on new automation initiatives gradually slowed down during the pandemic.
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Managed Services Market Report Highlights
In terms of solution, the managed security segment is anticipated to register the fastest CAGR of 14.7% over the forecast period owing to the adoption of managed security services in end-use industries. This segment offers various benefits such as security monitoring & management, email threat management, restoral management & backups, and support & maintenance management, among others
In terms of managed information services, the business support systems segment is anticipated to register the fastest CAGR of 14.2% from 2023 to 2030. The increasing adoption of business support system services such as business analysis, database integration, demand management service, and project management in end-use industries is anticipated to propel the growth of the segment over the forecast period
In terms of deployment, the on-premise segment dominated the market in 2022 with a revenue share of 64.4%. Numerous organizations have adopted the on-premise mode of deployment as it does not require an internet connection and allows easy customization of software to suit the business process requirements of clients
Based on enterprise size, the small & medium enterprises (SMEs) segment is anticipated to register the fastest CAGR of 14.3% from 2023 to 2030. Increasing government initiatives through various digital SME campaigns globally is expected to drive the growth of the SME segment over the forecast period
In terms of end-use, the healthcare segment is anticipated to register the fastest CAGR of 14.7% over the forecast period. Several healthcare organizations are opting for managed services to protect patient data and secure monetary transactions, thereby contributing to the segment's growth
In terms of region, North America held the largest market share in 2022 with a revenue share of over 30%. The rising number of multinational companies (MNCs) in North America bodes well for the regional market growth
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We have segmented the global managed services market based on solution, managed information service (MIS), deployment, enterprise size, end use, and region.
#ManagedServicesMarket#ITOutsourcing#CloudServices#NetworkManagement#CybersecuritySolutions#DataAnalytics#BusinessEfficiency#TechnologyIntegration#ITSupportServices#MarketTrends#StrategicITManagement#ManagedServiceProviders#ScalabilitySolutions#BusinessOperations#ITSolutions
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Fiber Optics Market Opportunities, Segmentation and Forecast Report, 2030
The global fiber optics market was valued at USD 8.76 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030. Fiber optics technology represents a significant advancement in modern communication systems, developed through extensive research and studies conducted by scientists and researchers around the world. The technology continues to evolve as innovations emerge, thanks in part to the continuous R&D efforts across various sectors.
Several connector manufacturers are expanding their product offerings to create highly secure and precisely aligned fiber optic connections. For example, in December 2022, Microsoft acquired Lumenisity Limited, a fiber optic product supplier based in England. This acquisition was part of Microsoft's strategy to enhance its global cloud infrastructure, ensuring it can meet the strict latency and security requirements of its customers using Microsoft's Cloud Platform and Services. By integrating Lumenisity's fiber optic solutions, Microsoft aims to improve the efficiency and performance of its cloud-based offerings, which rely heavily on fiber optic networks for fast and secure data transmission.
Additionally, businesses are increasingly collaborating to innovate fiber optic networks with the goal of reducing operations and maintenance (O&M) costs and simplifying the construction of optical distribution networks (ODN). These efforts are expected to have a notable impact on the market during the forecast period, driving both cost-efficiency and performance improvements in fiber optic infrastructure.
Furthermore, government initiatives supporting the widespread deployment of fiber optic cables are playing a crucial role in the market's growth. As more governments focus on expanding high-speed internet access and enhancing digital infrastructure, the demand for fiber optic technology continues to rise, further contributing to the overall market expansion.
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Regional Insights
Asia Pacific
The Asia Pacific region led the global fiber optics market, holding a significant revenue share of 28.8% in 2022. This dominant position can be attributed to several key factors, including advancements in technology, the widespread adoption of fiber optics across industries such as IT & telecommunications, administrative sectors, and the development of fiber-integrated infrastructure. These factors have collectively contributed to the rapid growth of the market in the region.
In the United States, by 2022, approximately 91.9 million kilometers of fiber optic cables had been installed throughout the country. The increasing demand for Internet of Things (IoT) devices and the proliferation of connected devices, along with the growing deployment of advanced broadband network platforms, such as Fiber to the Premise (FTTP), Fiber to the Building (FTTB), Fiber to the Home (FTTH), and Fiber to the Cabinet (FTTC), has also contributed to the growth of fiber optics in the U.S. These developments are driving the positive growth of the fiber optics market in the region.
North America
In North America, the rising demand for connected wearables, smartphones, and tablets has significantly increased the need for robust fiber optic networks. This, in turn, has further fueled the demand for fiber optic cables, supporting the region's market growth.
The Asia Pacific region continues to experience high growth, particularly in countries such as Japan, China, and India, where the IT & telecommunications sector is expanding rapidly. The manufacturing sector in the region is also seeing high penetration of fiber optics technology, further strengthening the market's presence. Additionally, the growing use of fiber optics in the medical sector is boosting the market in these countries, propelling overall market growth at an accelerated pace.
Governments in developed countries like the U.S., U.K., Germany, China, and Japan are making substantial investments to enhance national security infrastructures. These efforts, along with the increasing focus of rapidly developing economies on strengthening their position on the global stage, are driving investments in technologies such as fiber optics. As these economies continue to grow, there is an increase in funding for infrastructure and technological advancements, particularly in fiber optics.
A key driver for the demand for dark fiber in New Zealand is the rise in investments in FTTx (Fiber to the x) infrastructure. High-speed services, delivered via optical fiber cables rather than traditional coaxial or telephone cables, are being extended to residential, commercial, and industrial premises, further boosting the demand for fiber optics.
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• The global microprocessor market size was estimated at USD 118.30 billion in 2023 and is projected to grow at a CAGR of 8.2% from 2024 to 2030.
• The global gallium nitride semiconductor devices market size was estimated at USD 2.56 billion in 2023 and is projected to grow at a CAGR of 26.4% from 2024 to 2030.
Key Companies & Market Share Insights
The fiber optics market is highly competitive, with a few dominant players holding significant market shares. A major focus within the industry is on product innovation and collaborations between key players to expand their product offerings and capabilities. For example, in December 2021, Amphenol Corporation, a leading U.S.-based electronic connector manufacturer, acquired Halo Technology Limited, a company specializing in fiber optic interconnect devices, for approximately $715 million. This acquisition was aimed at enhancing Amphenol's fiber optic offerings, particularly for customers in the IT and data communications, mobile networks, and broadband sectors. By integrating Halo's high-technology products, Amphenol aims to bolster its position in the rapidly growing fiber optics market and expand its reach to a broader range of customers.
Some prominent players in global fiber optics market include:
• AFL
• Birla Furukawa Fiber Optics Limited
• Corning Incorporated
• Finolex Cables Limited
• Molex, LLC
• OFS Fitel, LLC
• Optical Cable Corporation (OCC)
• Prysmian Group
• Sterlite Technologies Limited
• Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC)
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#Fiber Optics Market#Fiber Optics Market size#Fiber Optics Market share#Fiber Optics Market analysis#Fiber Optics Industry
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Global Electric Vehicle Battery Management System Market Analysis 2024: Size Forecast and Growth Prospects
The electric vehicle battery management system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electric Vehicle Battery Management System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size - The electric vehicle battery management system market size has grown exponentially in recent years. It will grow from $5.38 billion in 2023 to $7.10 billion in 2024 at a compound annual growth rate (CAGR) of 32.1%. The growth in the historic period can be attributed to rising environmental concerns, increasing fuel prices, growing demand for electric vehicles, declining battery costs, improving energy density.
The electric vehicle battery management system market size is expected to see exponential growth in the next few years. It will grow to $19.35 billion in 2028 at a compound annual growth rate (CAGR) of 28.5%. The growth in the forecast period can be attributed to enhanced battery performance, evolving battery chemistry, stringent emission standards, shifting consumer preferences, increasing focus on energy efficiency. Major trends in the forecast period include integration of predictive maintenance, development of wireless battery management system solutions, adoption of cloud-based analytics, rise of solid-state batteries, expansion of energy-as-a-service models.
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Scope Of Electric Vehicle Battery Management System Market The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electric Vehicle Battery Management System Market Overview
Market Drivers - The rise of electric mobility solutions is expected to propel the growth of the electric vehicle battery management system market going forward. Electric mobility solutions encompass a wide range of electrically powered vehicles and associated infrastructure, such as electric vehicles (EVs) and charging stations, to reduce reliance on fossil fuels and promote cleaner, more sustainable transportation. The combination of environmental concerns, technological advancements, government support, cost savings, and shifting consumer preferences is driving the rapid rise of electric mobility solutions. Electric vehicle battery management systems ensure battery packs' safe, efficient, and reliable operation, optimizing performance, extending battery life, and enhancing the overall driving experience. For instance, in April 2023, according to reports published by the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales surged by 55% in 2022 compared to 2021, surpassing 10 million units, while the proportion of electric cars in total car sales increased to 14% in 2022 from 9% in 2021. Therefore, the rise of electric mobility solutions fuels the growth of the electric vehicle battery management system market.
Market Trends - Major companies operating in the electric vehicle battery management system market increasingly focus on integrating artificial intelligence (AI) to develop advanced solutions such as battery intelligence software to enhance battery performance, optimize energy management, and extend battery life. Integrating artificial intelligence (AI) enables advanced capabilities such as predictive maintenance, optimized energy management, adaptive control strategies, and enhancing battery performance, efficiency, and longevity. For instance, in April 2023, WAE Technologies, a UK-based technology and engineering services company, launched the Elysia battery intelligence. This offers innovative features such as battery insight, optimization, and cloud-based solutions, with AI integration enhancing battery management through data analysis and predictive capabilities. Its significance lies in revolutionizing battery management, extending lifespan, and providing actionable insights, marking a significant advancement in the electric vehicle battery management system market towards optimizing efficiency and supporting new models of battery financing.
The electric vehicle battery management system market covered in this report is segmented –
1) By Battery Type: Lithium-ion, Nickel Metal Hydride, Other Battery Types 2) By Components: Integrated Circuits, Cutoff FETs And FET Driver, Temperature Sensor, Fuel Gauge And Current Measurement Devices, Microcontroller, Other Components 3) By Vehicle Type: Battery Electric Vehicles, Hybrid Electric Vehicles 4) By Application: Voltage Monitoring, Temperature Censor, Current Management, Discharge Monitoring, Other Applications
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Regional Insights - Asia-Pacific was the largest region in the electric vehicle battery management system market in 2023. The regions covered in the electric vehicle battery management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies - Major companies operating in the electric vehicle battery management system market are SAIC Motor Corporation Limited, Robert Bosch GmbH, Tesla Inc., Panasonic Corporation, Intel Corporation, BYD, Contemporary Amperex Technology Co. Limited (CATL), Continental AG, LG Chem Ltd., Hyundai Mobis, ABB Ltd., Toshiba Corporation, Johnson Matthey plc, Texas Instruments Inc., TE Connectivity, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, Eberspaecher Vecture Inc., Lithium Balance A/S (Sensata Technologies), Sensata Technologies Holding PLC, Visteon Corporation, Maxim Integrated, Hitachi Automotive Systems Ltd., LION Smart GmbH, Leclanché SA, Nuvation Energy (Nuvation Engineering), Merlin Equipment Ltd.
Table of Contents 1. Executive Summary 2. Electric Vehicle Battery Management System Market Report Structure 3. Electric Vehicle Battery Management System Market Trends And Strategies 4. Electric Vehicle Battery Management System Market – Macro Economic Scenario 5. Electric Vehicle Battery Management System Market Size And Growth ….. 27. Electric Vehicle Battery Management System Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix
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Contact Center Software Market: Industrial Expansion Supports Solution Services
In the constantly changing business landscape, customer experience has become an integral part of any organization’s success. Estimates points out that each year, companies lose approximately $75 billion worth of revenue owing to poor customer service. Moreover, around 35% of customers want support agents to resolve issues in one call. Given these conditions, the number of call centers has soared over the years, with companies investing heavily in contact center software to ensure high customer retention rates.
As per Triton’s analyst report, the global contact center software market is expected to gain $60.18 billion by 2028, advancing with a CAGR of 13.57% during the forecast period 2022-2028.
Given the changing consumer behavior trends, companies adopt software solutions to automate operations, offering an all-inclusive experience. For instance, Nice CXone is a cloud-based solution offering analytics, automation, and CRM integration that elevates customer experiences, promoting the global market’s growth.
Along with CXone, some of the other top contact center software include:
Genesys Cloud CX solution follows customer interactions, offering agents the context to offer personalized experiences. The all-in-one platform also helps engage employees, boosting the team’s performance. The major factors supporting its adoption include real-time dashboards, remote insights to agents, and weekly upgrades. Recently, Genesys partnered with Indian Hotels Company (IHCL) to rediscover the contact center strategy and improve customer engagement.
Talkdesk’s suite of software has also gained significant momentum globally. The automation-first customer experience solutions amalgamate enterprise scale with consumer simplicity. From CX cloud to industry experience clouds, the software has been adopted by notable companies like Fujitsu, IBM, Acxiom, etc. The company’s business phone system built on the cloud decreases costs and supports a hybrid workspace, supporting the software’s high demand.
Aircall is another cloud-based phone system that has gained popularity as it helps agents add numbers from over 100 nations, ensuring clear communication. The real-time analytics and easy accessibility via desktop or mobile app have heightened its demand. For instance, HubSpot invested in Aircall to elevate efficiency and encourage sales.
Geographical Landscape: Latest Trends & Key Segments
The service sector has evolved with the advent of technologies such as big data, AI, and machine learning. In this regard, customer relationship management along with predictive analysis technology monitors consumer behavior, leading to solutions for higher customer retention. The industrial expansion has also supported the deployment of contact center solutions, especially in North America and Asia-Pacific.
North America leads the contact center software market
North America’s contact center software market is expected to advance with a CAGR of 10.63% during the forecast period 2022-2028. The region’s robust growth is due to the expansion of the IT, telecom, and BFSI industries. As per estimates, companies in the US lose approximately $136.8 billion due to consumer switching. This has influenced the adoption of contact center solutions to resolve customer complaints, improve feedback, and avoid revenue loss.
Among these industries, the BFSI industry is a leading end-user in the market. The contact center solution has enabled the industry to prevent security threats and establish centralized control over banking operations, including customer relationship management.
Asia-Pacific expected to witness the fastest growth with a CAGR of 17.42%
Rapid and wide-scale deployment of emerging technologies, including cloud and predictive analysis, have advanced the contact center capabilities immensely. Moreover, the growing awareness about consumer rights has increased queries and complaints, leading to high demand for better customer experience solutions. Organizations are thus heavily investing in solutions to improve customer retention rates, thereby driving the Asia-Pacific contact center software market.
In terms of delivery mode, the cloud solutions category captures the majority of shares. This is because companies shift from on-premise to cloud-based solutions to scale operations. As per sources, a shift to the cloud improves customer call rates by around 5%, decreasing the average speed of answers by around 50%. Thus, these factors generate numerous opportunities for the market.
Concluding Considerations: Personalized Services to Open New Avenues
In a highly competitive market space, companies need to strengthen their footings with novel solutions like personalization. Based on industry sources, around 93% of companies have witnessed an increment in conversion rates due to customization. Besides this, approximately 65% of consumers have stated that personalization induces brand loyalty. In this regard, the integration of CRM solutions with agent desk software helps representatives access entire customer data, supporting custom solutions to address queries. Thus, the growing trend of personalized services is anticipated to promote the contact center software market’s growth in the upcoming years.
FAQs:
Q1) What is a cloud contact center solution?
A cloud contact center solution helps businesses handle customer service operations on the internet through multiple channels, including email, call, chat, and social media platforms.
Q2) What is the size of the contact center software market?
In 2021, the global contact center software market earned $24.82 billion. It is expected to garner $60.18 billion by 2028.
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IoT in Manufacturing Market is Estimated to Witness High Growth Owing to Need for Streamlining Operations
The IoT in manufacturing market involves connecting and integrating physical devices, sensors, and other smart objects into the manufacturing operations through the use of networking and cloud technologies. It enables the collection of information from various manufacturing equipment and assets and utilizes analytics tools to analyze the collected data to optimize operations. IoT allows manufacturers to drive improvements in equipment performance, reduce downtime, improve quality control, and optimize logistics and inventory management. The advantages of IoT in manufacturing include increased productivity, predictive maintenance, asset monitoring, inventory management, and energy management. The need for streamlined operations, improved asset utilization, and reduced maintenance costs through advanced monitoring and predictive analytics is fueling the demand for IoT in manufacturing. The global IoT in manufacturing market size was valued at US$ 198.8 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 18.4% from 2023 to 2030. Key Takeaways Key players operating in the IoT in Manufacturing are EnableX.io (VCLOUDX PTE. LTD), Twilio Inc., Infobip Ltd., Vonage Holdings Corp, M800 Limited, MessageBird BV, Iotum Inc., Plivo Inc., Voxbone SA, Snich AB, Telestax, Voximplant (Zingaya Inc.), Mitel Networks Corporation, 8x8 Inc., AT&T Inc., Voxvalley Technologies, Avaya Inc., Bandwidth Inc. (Bandwidth.com), Wazo Communication Inc., and IntelePeer Cloud Communications. These players are focusing on developing advanced IoT solutions and services for manufacturing applications. The key opportunities in the Iot In Manufacturing Market Forecast include predictive maintenance through condition monitoring of equipment, remote asset management through sensors and connectivity, improving supply chain visibility, and optimizing energy consumption. Adoption of advanced analytics is also opening up new revenue streams through data monetization. North America is expected to continue dominating the global IoT in manufacturing market during the forecast period owing to the presence of many global players and early adoption. However, Asia Pacific is expected to witness the highest growth attributed to increasing investments by governments and manufacturers in smart factory initiatives to drive industry 4.0. Countries like China, India, Japan, and South Korea are emerging as global manufacturing hubs and rapidly adopting IoT technologies. Market drivers The key driver fueling the growth of IoT in manufacturing is the need for streamlining operations through real-time data collection, monitoring, and analytics. IoT allows connecting all manufacturing assets and enables data-driven decision making for predictive maintenance, quality control, inventory management, and production planning. This helps reduce downtime, save costs, improve overall equipment effectiveness, and enhance operational efficiency. IoT also enables remote asset management and driving energy efficiency initiatives through connected smart systems and remote asset performance monitoring.
PEST Analysis Political: IoT in manufacturing market is affected by government regulations around data privacy and security. Stricter privacy laws make it challenging for businesses to collect and use customer data. On the other hand, regulations supporting industry digitization creates opportunities for IoT solutions. Economic: Factors like global economic growth, industrial production levels, and investment in automation impact demand for IoT systems in manufacturing. During recessionary periods, organizations may delay IoT deployments to control costs. Social: Younger workforce is more receptive to new technologies. Skill gaps challenge wider IoT adoption. Awareness programs help promote social acceptance of advanced manufacturing technologies. Technological: Emerging technologies like AI, 5G, edge computing, and blockchain offer new possibilities for optimizing manufacturing processes. However, integrating legacy systems with advanced IoT platforms poses technological challenges. Security also remains a key concern with expanding network connectivity. The geographical regions where the IoT in manufacturing market is concentrated in terms of value are North America and Europe. North America accounts for the largest share mainly due to early adoption of Industry 4.0 technologies by US factories. The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is because key developing economies like China and India are making heavy investments to automate their manufacturing industries using industrial IoT solutions. China's "Made in China 2025" initiative advocates implementation of IoT, robotics, and other innovative technologies across manufacturing sectors.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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