Technology Market report: October 2021

Friday 29 October 2021

DevSecOps Market - Future Trends, Revenue Growth & Leading Players, Forecast To 2028

The global Devsecops Market size is anticipated to reach USD 17.24 billion by 2028, expanding at a CAGR of 24.1% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. DevSecOps is the short form for development, security, and operation. DevSecOps solutions help integrate security at each phase of the software development lifecycle from the initial stage of design through integration, testing, and deployment. DevSecOps solutions help enterprises achieve high efficiency and productivity, streamline workflow and improve collaboration between IT and operational teams. Factors such as the growing internet penetration rate, shifting consumer preference toward online platforms, increasing adoption of the Work From Home (WFH) model, and the rising frequency of cybercrime have boosted the demand for DevSecOps solutions globally.

The increasing need for continuous application delivery with high security is also expected to fuel the demand for DevSecOps solutions over the forecast period. The rising adoption of cloud technologies across enterprises and the increase in the number of cyberattacks are expected to drive market growth. Furthermore, the growing preference for connected devices, such as smartphones, tablets, and laptops, among individuals is expected to drive the growth of the market.

In terms of geography, the North American regional market accounted for the largest share of the global market in 2020. North America constitutes developed economies, including the U.S. and Canada. These countries are widely known for the aggressive adoption of advanced technologies, such as artificial intelligence, machine learning, the internet of things, and cloud computing. A strong and well-developed IT infrastructure deployed in the region could foster the demand for DevSecOps solutions.

Related Press Release@ DevSecOps Market Report

DevSecOps Market Report Highlights

In terms of component, the software segment dominated in 2020 with a market share of more than 60% of the overall market
In terms of deployment, the cloud segment is expected to increase over the forecast period owing to benefits such as security, cost-saving, agility, and scalability provided by cloud-based deployments
In terms of organization, the small and medium enterprise segment is anticipated to register the highest CAGR from 2021 to 2028 owing to the growing awareness about DevSecOps and the vast benefits offered by these solutions to small and medium enterprises. Furthermore, the rise in cyber threats and increased vulnerability of business networks are also expected to lead to an increase in business focus on application security
The Asia Pacific regional market is expected to expand at the highest CAGR from 2021 to 2028, owing to rapid advancements in the internet of things, cloud computing, and IT infrastructure. This has led organizations in the region to adopt DevSecOps solutions and services

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Friday 22 October 2021

BFSI Contact Center Analytics Market - Future Trends, Revenue Growth & Leading Players, Forecast To 2028

The global BFSI Contact Center Analytics Market size is expected to reach USD 842.5 million by 2028, registering at a CAGR of 16.3% from 2021 to 2028, according to a new report by Grand View Research, Inc. The BFSI sector increasingly demands contact center analytic solutions to analyze customer data and improve customer experience. The increasing efforts of BFSI firms to improve their operational performance and address customer requirements is also one of the major factors driving the market growth.

Several banks are investing in artificial intelligence-powered analytics solutions for improving their customer experience. For instance, in February 2021, the Bank of Singapore announced its plan of deploying artificial intelligence-based analytical solutions to improve its customer services and the performance of its sales teams. This solution would also offer text analytics to the bank, offering the bank insights about customer sentiments and conversation topics.

The increasing adoption of digital banking solutions and the consecutive rise in the complexity of handling transactional interactions is expected to create the demand for contact center analytics. Banks are expected to adopt these solutions for handling complex situations, informational calls, and sales and purchase-related issues.

The COVID-19 pandemic and associated restrictions required that banks operated with limited staff. This adversely impacted the market in 2020. However, the increasing adoption of the remote working model by BFSI companies could drive the market positively post the pandemic. According to the statistics provided by the Site Selection Group, in 2021, 2.5 million call center workers at 8,154 call centers were shifted to the work-from-home model in the U.S. These contact center employees included 0.5 million workers working for financial services and 0.3 million workers working for insurance companies.

Related Press Release@ BFSI Contact Center Analytics Market Report

BFSI Contact Center Analytics Market Report Highlights

In terms of solution, the speech analytics segment dominated the market in 2020. BFSI firms employ speech analytics solutions to gain insights into the performance of their contact centers and other functional areas
In terms of service, the integration and deployment segment dominated the market in 2020. BFSI firms use integration and deployment services to integrate advanced technologies in their business operations
In terms of deployment, the on-premise segment dominated the market in 2020. Benefits offered by on-premise contact center analytics, such as maintenance and installation of solutions on the premises of end-users, contribute to the segment growth
In terms of enterprise size, the large enterprises segment dominated the market in 2020. The rise in demand for contact center analytics among large enterprises for handling large customer data has favored segment growth
In terms of application, the customer experience management segment dominated the market in 2020. BFSI firms use customer experience management for analyzing customer data and agent performance, which benefitted the segment growth
In terms of vertical, the banking segment dominated the market in 2020. The increasing adoption of digitalized technologies by banks can be attributed to the segment growth
The growing adoption of technologies in emerging economies such as China and India is expected to create growth opportunities for the market in the Asia Pacific region over the forecast period

Thursday 21 October 2021

Portable Lithium Power Station Market is Predicted to Witness 13.2% CAGR till 2028

The global Portable Lithium Power Station Market size is expected to reach USD 282.0 million by 2028, according to a new study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 13.2% from 2021 to 2028. With the improvement in battery technology, coupled with the increasing demand for portable power packs from the consumer electronics sector for powering notebooks, mobiles, tablets, and other smart devices, the demand for portable lithium power stations is anticipated to grow over the forecast period. Additionally, the rising demand for portable lithium power stations in a variety of application areas, including automotive, off-grid, and emergency power, is expected to create significant opportunities for the vendors operating in the market over the forecast period.

The key factors driving the market are the increasing penetration of smart electronic devices, rising demand for reliable and uninterrupted power, and stringent emission rules across regions. Moreover, the stringent regulations made by the government bodies on carbon emission and the growing adoption of advanced technologies by the customers are the key challenges faced by the vendors with regards to manufacturing the products that are planned with the latest demanding features and applications, which surely limits the market from expanding its reach.

The market is served by a blend of large players with international presence and capabilities to serve customers from different regions and local and domestic players that are having a strong foothold in the local markets. The key strategies adopted by these players include product launches, product development, expansions & investments, and partnerships and collaborations. New product development and launches were the most common strategies adopted in the past few years by the majority of vendors operating in the market. Moreover, partnerships and collaborations were another majorly adopted strategy by vendors to reinforce their product and service offerings and footprints across the globe. However, a decrease in the sales of electric vehicles, coupled with imposed restrictions on tourism and travel during the COVID-19 situation, is hindering the market growth. Asia Pacific is expected to witness substantial growth over the forecast period owing to the rising demand for portable lithium power stations to ensure continuous power supply during power outages, outdoor recreational activities, and camping in China, India, and Japan

Related Press Release@ Portable Lithium Power Station Market Report

Portable Lithium Power Station Market Report Highlights

By type, the solar power segment is anticipated to witness significant growth in the years to come owing to the increasing emphasis on the use of renewable energy
The 1,000 Wh to 1,499 Wh capacity segment is anticipated to witness high growth as 1,000 Wh to 1,499 Wh power stations are increasingly used for powering large-sized devices and equipment along with multiple smaller devices, such as smartphones, tablets, and laptops
The e-commerce sales channel segment is anticipated to witness significant growth over the forecast period owing to the growing penetration of digital platforms for transactions, coupled with the rising number of smartphone users
The off-gird application segment is anticipated to register the highest CAGR over the forecast period owing to the increasing outdoor recreational and camping activities across the globe, which is expected to create healthy demand for portable lithium power stations to fulfill the power requirements at remote locations
The industrial end-use segment is expected to grow at a significant rate over the forecast period owing to the growing need for continuous power and the availability of industrial-grade portable lithium power station

Tuesday 19 October 2021

Factoring Services Market by Barclays Bank PLC, BNP Paribas, China Construction Bank Corporation

The global Factoring Services Market size is expected to reach USD 5,973.9 billion by 2028, registering a CAGR of 8.4%, from 2021 to 2028, according to a new study by Grand View Research, Inc. The growth can be attributed to the increasing number of open trade accounts, the expansion of businesses in the Asian market, mainly led by China, the rise in cross-border factoring, and the rapid development of factoring services across the European Union. Moreover, the increasing need for an alternative source of financing for Small and Medium Enterprises (SMEs) has also been driving the market growth. Additionally, the implementation of blockchain technology in factoring solutions is likely to help improve the overall supply chain by reducing operational costs for businesses.

Several factors are likely to impede the demand for factoring in emerging markets, including archaic regulations hindering the growth of receivables purchase programs, such as the continued use of stamp duty tax, laws limiting the rights of assignment, and foreign currency restrictions. However, the development of receivables registries is increasing to safeguard from fraud/scam or factoring rules that can guard the industry against unfair regulations. However, the increasing focus of regulators on data management and extensive adoption of real-time payments networks are expected to help in reducing complexities in trade finance. The increased demand for drafting proper laws to govern factoring transactions, such as the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Secured Transactions, is also expected to boost the market in the coming years.

Furthermore, the rising implementation of digital platforms in trade financing and increasing cross-border trade activities are expected to drive market growth during the forecast period. However, the COVID-19 pandemic has resulted in travel bans, quarantines, lockdowns, flight cancellations, and increased panic among people, adversely affecting industries and sectors globally. However, the factoring market is expected to rebound gradually in the short as well as the long term.

Related Press Release@ Factoring Services Market Report

Factoring Services Market Report Highlights

In terms of category, the international segment is expected to register the highest CAGR over the forecast period. This can be attributed to the increasing demand for factoring services from developing nations that focus on increasing their international trade through exports and imports
In terms of type, the non-recourse segment is anticipated to register the highest CAGR of 8.7% over the forecast period. Advantages such as full credit cover offered by the financing company are driving the demand for non-recourse factoring amongst SMEs across the world
In terms of financial institution, the non-banking financial institution segment is anticipated to register the fastest CAGR from 2021 to 2028. The growth of fintech companies and non-banking financial startups, owing to lenient ease of government regulations in some developing countries, is the prime factor propelling the growth of the segment
In terms of end use, the healthcare segment is anticipated to register the highest CAGR over the forecast period. Insurance-related complications and delays in medical bill payment of medical companies or professionals due to bureaucracy in the payment process are likely to accelerate the demand for factoring services in the segment over the forecast period
In terms of region, Asia Pacific is anticipated to emerge as the fastest-growing regional market owing to the rapid growth of economies vis-à-vis infrastructural and industrial growth in the region. The region comprises two of the world’s most populated countries, China and India, where the demand for factoring services is higher among SMEs. Moreover, China is the key exporter of electronic components, chemical materials, and many other industrial products

List of Key Players in the Factoring Services Market

· Barclays Bank PLC

· BNP Paribas

· China Construction Bank Corporation

· Deutsche Factoring Bank

· Eurobank

· Hitachi Capital (UK) PLC

· HSBC Group

· ICBC China

· Kuke Finance

· Mizuho Financial Group, Inc.

Online Tutoring Services Market Key Players, Industry Share, Growth, And Forecast To 2028

The global Online Tutoring Services Market size is expected to reach USD 18.18 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 15.6% from 2021 to 2028. Online tutoring refers to the process of tutoring in an online, networked, or virtual environment where learners and tutors are present virtually. It has gained popularity with the ever-increasing use of internet services worldwide. Increased internet data transfer speed has enabled tutors and learners to engage online simultaneously. Furthermore, the rapid adoption of smartphones is one of the significant factors driving the adoption of online teaching services worldwide as it enables learning to take place regardless of the geographic location. For instance, Varsity Tutors, a U.S.-based education company, offers a mobile application for live tutoring and instructions. It provides an expert’s assistance from anywhere and lets learners manage their tutoring sessions.

Schools, universities, and other learning institutes have been encouraged to follow distance education and work remotely with their students amid the COVID-19 pandemic. The adoption of distance learning owing to the outbreak of the pandemic has impacted the industry’s growth favorably. For instance, in March 2020, Varsity Tutors released a free product called Virtual School Day for students and parents. It offers over 20 hours of live online classes across various subjects for students up to the 12^th grade. It also has special sessions for each age group. Thus, online tutoring service providers have positively leveraged the pandemic situation as educational institutes have been closed in many states and countries.

The market has benefitted from the onset of analytical applications to customize tutoring services. For instance, content designers leverage analytical tools to develop content tailored to the requirements of learners. Such content development is fulfilled based on individual students’ interests, performances, and subject understanding. For instance, Kaplan, Inc., an American for-profit educational services corporation, provides online customization tools for learners enrolled in test preparation courses. This trend of growing customization in tutoring services is anticipated to trigger market growth owing to the formative assessment features of these services.

Related Press Release@ Online Tutoring Services Market Report

Online Tutoring Services Market Report Highlights

The increasing adoption of mobile phones and tablets by students and parents has led to the impulsive growth of mobile learning methods
The increasing deployment of personalized tutoring and live sessions can be attributed to benefits such as better tutor-student engagement
Online tutoring service providers have leveraged the outbreak of the COVID-19 pandemic as an opportunity to introduce an ideal learning method amid the crisis
Remote access and a convenient medium of learning are the key advantages encouraging students to adopt online tutoring services. Furthermore, the inclusion of the feedback feature in mobile educational apps has enabled students to receive personalized support from the service providers

List of Key Players of the Online Tutoring Services Market

· Ambow Education

· ArborBridge

· Beijing Magic Ears Technology Co., Ltd

· BYJU'S

· Chegg Inc.

· Club Z! Inc.

· iTutorGroup

· Qkids Teacher

· Varsity Tutors

· Vedantu.com

Industrial Refrigeration Systems Market Analysis Insights by Application and Region, 2021-2028

The global Industrial Refrigeration Systems Market size is estimated to reach USD 22.65 billion by 2028, registering a CAGR of 3.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growth of food retail chains worldwide is expected to boost the demand for industrial refrigeration systems over the forecast period. Moreover, increasing initiatives taken by governments to improve and strengthen the cold chain infrastructure are expected to drive market growth.

Rising concerns around global warming have shifted the focus of industrial refrigeration system manufacturers and users from the thermodynamic properties of refrigerants to their Ozone Depletion Potential (ODP) and Global Warming Potential (GWP). Major industrial refrigeration systems players are focused on designing environment-friendly refrigeration systems owing to various benefits they offer, such as cost-effectiveness, lower power consumption, and low toxicity. For instance, in October 2019, EVAPCO, Inc., a prominent industrial refrigeration systems manufacturer, expanded its product line of low-charge packaged ammonia chiller systems by adding the Large-Single (LS) and Large Dual (LD) models. The products feature a Small-Single (SS) capacity of 250 Tons of Refrigeration (TR) at a supply glycol of 22°F.

The rising concerns regarding the use of refrigerants with a high global warming potential are expected to encourage developments in alternative industrial refrigeration systems. Magnetic refrigeration is another emerging technology that does not use a refrigerant but a heating or cooling liquid, is often water-based and has higher energy efficiency.

The shutdown of manufacturing and transportation facilities and food production units to prevent the spread of Covid-19 has resulted in a decline in the sales of industrial refrigeration systems. However, the increased deployment of cold chains to store and preserve vaccines and refrigerated transportation systems for facilitating its reach in large quantities is anticipated to continue supporting the market growth.

Related Press Release@ Industrial Refrigeration Systems Market Report

Industrial Refrigeration Systems Market Report Highlights

The food and beverage segment accounted for the highest revenue share of over 55.0% of the overall market in 2020. The segment growth can be attributed to the rising disposable income and increased demand for packaged and processed food by consumers
The compressors segment is anticipated to witness the highest CAGR of around 5.0% over the forecast period. The growth can be attributed to the availability of natural refrigerants, which help compressors in increasing the cooling capacity and reduce the contribution to global warming
The Asia Pacific market is expected to witness the fastest growth, accounting for a CAGR of over 5.0% from 2021 to 2028. The rising adoption of cold chain infrastructure is expected to drive market growth in the region

List of Key Players in the Industrial Refrigeration Systems Market

· Johnson Controls

· Emerson Electric Co.

· Danfoss

· GEA Group Aktiengesellschaft

· MAYEKAWA MFG. CO., LTD.

· BITZER Kühlmaschinenbau GmbH

· DAIKIN INDUSTRIES, Ltd.

· EVAPCO, Inc.

· Güntner GmbH & Co. KG

· LU-VE S.p.A.

About Us:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

AI Training Dataset Market Size is Expected to Experience a CAGR of 19.5% till 2028

The global AI Training Dataset Market size is expected to reach USD 4.90 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 19.5% from 2021 to 2028. Artificial Intelligence (AI) technology is proliferating. As organizations are transitioning toward automation, the demand for technology is rising. The technology has provided unprecedented advances across various industry verticals, including marketing, healthcare, logistics, transportation, and many others. The benefits of integrating the technology across various operations of the organizations have outweighed its costs, thereby driving adoption.

Due to the rapid adoption of artificial intelligence technology, the need for training datasets is rising exponentially. To make the technology more versatile and accurate with its predictions, a wide number of companies are entering the market space by release various datasets operating across various use cases to train the Machine Learning (ML) algorithm. Such factors are substantially contributing to market growth.

Factors such as the cultivation of new high-quality datasets to speed up the development of AI technology and deliver accurate results are driving the market growth. For instance, in January 2019, IBM Corporation, a technology company, announced the release of a new dataset that comprises 1 million images of faces. This dataset was released to help developers to train their face recognition systems supported by artificial intelligence technology with diverse datasets. This dataset will help them to increase the accuracy of face identification.

Related Press Release@ AI Training Dataset Market Report

AI Training Dataset Market Report Highlights

The increasing creation of synthetic training data for unsupervised and supervised training of machine learning algorithms is driving the adoption of datasets by organizations thereby catalyzing the market growth
The image/video segment is expected to portray a high CAGR of approximately 22% over the projected period
The Asia Pacific regional market is expected to witness significant growth over the forecast period, owing to the substantial adoption of AI technology
The key players in the market are Google, LLC (Kaggle); Appen Limited; Cogito Tech LLC; Lionbridge Technologies, Inc.; Amazon Web Services, Inc.; Microsoft Corporation; Scale AI; Inc.; Samasource Inc.; Alegion; and Deep Vision Data

List of Key Players in the AI Training Dataset Market

· Google, LLC (Kaggle)

· Appen Limited

· Cogito Tech LLC

· Lionbridge Technologies, Inc.

· Amazon Web Services, Inc.

· Microsoft Corporation

· Scale AI Inc.

· Samasource Inc.

· Alegion

· Deep Vision Data