Technology Market report: November 2022

Friday 11 November 2022

Desktop 3D Printing Market by 3D Systems, Inc.; 3DCeram; Autodesk, Inc.; Canon, Inc.; Dassault Systèmes; EnvisionTEC

The global Desktop 3D Printing Market size is expected to reach USD 12.39 billion by 2030, witnessing a CAGR of 21.0% during the forecast period, according to the new report by Grand View Research, Inc. Desktop 3D printing involves designing and producing a 3D object with the help of computer-aided design software or a digital 3D model. The market for desktop 3D printers has witnessed significant growth owing to the demand for prototyping and designing across several verticals, including dental, healthcare, fashion, jewelry, objects, and gifts. The technology offers a cost-effective solution to small and medium-sized enterprises, hence, allowing them to customize their offerings with minimum manufacturing expenses compared to traditional manufacturing methods.

The demand for desktop 3D printing has increased owing to an inclination of hobbyists and innovators toward 3D printing technology. Individuals are leveraging desktop 3D printing for domestic and personal purposes, while universities and educational institutes are utilizing desktop 3D printing for technical training and research purposes. The market's growth in developing economies, including South Africa, Brazil, and India, is remarkable as the users in these countries have switched from traditional manufacturing methods to 3D printing. The players in developing economies have opted for desktop 3D printers to offer related services, including desktop 3D printing materials, 3D modeling, filaments, and 3D printer software.

Extensive research and development activities undertaken by the private and public sector has propelled the growth of desktop 3D printing and related technologies. Rising investments by the government and private investment firms are compelling manufacturers to innovate in existing 3D printing technologies, thereby increasing the adoption of state-of-the-art technologies.

North America accounted for the largest market share of approximately 35% in 2021, owing to an aggravated adoption of 3D printers for modeling, designing, and manufacturing prototypes and components across several industries. On the flip side, the Asia Pacific is estimated to emerge as a predominant region during the forecast period, growing at the fastest CAGR of 24.4%. The market was valued at USD 518.2 million in 2021 and is anticipated to reach USD 3.69 billion by 2030, thus, exhibiting stringent growth. Some of the factors that propelled the development of the Asia Pacific market include rapid industrialization and urbanization, developing civil infrastructure, the proliferation of consumer electronic products, and optimized labor costs.

Desktop 3D printing is a capital-intensive technique, and some firms are still reluctant to utilize the benefits of desktop 3D printing and are clinging to misconceptions about prototyping. The market lacks the standardized process controls and qualified labor that desktop 3D printing demands and these factors are likely to limit market expansion. However, government activities targeted at raising awareness and promoting the benefits of using 3D printers are anticipated to assist overcome market constraints.

Related Press Release@ Desktop 3D Printing Market Report

Desktop 3D Printer Market Report Highlights

Desktop 3D printing technology is flourishing as it offers efficient, accurate, and rapid prototyping and optimized time to market
The demand for desktop 3D printers has increased amongst hobbyists for personal use and in the education sector for research and training purposes
The functional parts segment is anticipated to dominate in 2021 and is expected to expand its market share to more than 48% by 2030
The plastic segment accounted for approximately 55% share of the entire market. However, the metal segment is anticipated to witness the fastest growth owing to the increasing demand for metal desktop 3D printing from several industrial verticals including automotive and aerospace & defense.
The Asia Pacific is a manufacturing hub for several industry verticals. Rapid urbanization has propelled the need for infrastructure and prompted various industry verticals to adopt desktop 3D printing across China, Japan, and South Korea
The prominent players in the industry include 3D Systems, Inc., 3DCeram, Dassault Systèmes, EnvisionTEC, Materialise NV, and Stratasys Ltd.

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.

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Tuesday 8 November 2022

Loyalty Management Market: Top Key Players, Trends, Scope and Segmentation, 2030

The global Loyalty Management Market size is anticipated to reach USD 20.44 billion by 2030, registering a CAGR of 10.5% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The enterprises are using loyalty programs aggressively as part of the marketing strategies to encourage customers to stick to the brand and prevent them from switching to another is expected to drive the growth of the market. Loyalty programs envisage rewarding customers with cashback, rewards points, gift cards, discounts, and others for their purchases. They help enterprises retain customers and subsequently play a vital role in strengthening the customer base and augmenting sales.

The growing adoption of advanced solutions that can track consumer behavior, monitor customer scores, and subsequently help in enhancing customer engagement is expected to drive the growth of the market over the forecast period. As the competition among brands intensifies, brands are aggressively pursuing various strategies, including running loyalty programs, to satisfy customers and prevent them from switching to other brands, thereby contributing to the growth. The continued introduction of various digitalized payment options to enhance consumer experience bodes well for the growth.

Cloud-based deployment of loyalty management programs is expected to gain traction over the forecast period. Cloud-based deployment helps organizations better manage their expenses and save on the costs incurred by having a dedicated IT infrastructure while ensuring agility. The cloud-based deployment also facilitates real-time tracking of customer queries, retention rates, and response rates. Storing customer data in the cloud for further analysis can help organizations build a comprehensive view of the overall customer base.

The retail & consumer goods segment dominated the market for loyalty management in 2021. Retailers and consumer goods brands often embark upon efforts to improve brand loyalty and encourage repetitive purchases. Rewarding customers with loyalty rewards in the form of gifts, discounts, certificates, and reward points mainly helps in enhancing customer relationships. Hence, retailers and consumer goods brands are aggressively adopting loyalty management software.

Retaining the existing customers while simultaneously acquiring new customers is of paramount importance for incumbents of various industries and industry verticals. Telecom operators emphasize building trust and affinity with their subscribers by enhancing value-based services. Incumbents of the IT & telecommunications industry particularly opt for loyalty management solutions to retain their customers.

North America accounted for the largest revenue share of the market in 2021. The region is home to developed economies, such as the U.S. and Canada, known for adopting the latest advanced technologies, such as AI, cloud computing, and data analytics. A strong and well-developed IT infrastructure deployed in the region also bodes well for adopting advanced loyalty management solutions. North America typically favors free shipping, cashback, and discounts as loyalty rewards. People widely use credit and debit cards in the store's highly adopted loyalty programs in this region. Customers favor monetary offerings such as free shipping, cashback, and discounts.

Related Press Release@ Loyalty Management Market Report

Loyalty Management Market Report Highlights

The software segment dominated the market in 2021 with a revenue share of 50%
The cloud-based segment is expected to grow significantly over the forecast period as this type of deployment offers various benefits, such as cost-saving and agility
The large enterprise segment dominated the market in 2021 as large enterprises belonging to various industries and industry verticals emphasized launching loyalty programs as part of the efforts to retain customers
The growth of the Asia Pacific regional market can be attributed to the rapid economic development of emerging economies, such as India and China

Thursday 3 November 2022

AI In Education Market: Current Scenarios and Opportunities

The global AI In Education Market size is expected to reach USD 32.27 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 36.0% from 2022 to 2030. Digitalization and technological advancement are innovating industrial sectors such as healthcare, manufacturing, education, and banking and finance. The education sector is no exception when it comes to the impact of AI integration on growth. Rapid implementation of innovative technologies such as AI in education is developing the teaching and learning experiences.

The COVID-19 pandemic severely impacted industries across the world. However, the market for AI in education witnessed a significant rise in the demand for innovative AI-based education solutions during the pandemic. Advancements such as chatbots and virtual facilitators make it reliable for the company to provide solutions and services to the students, teachers, and tutors. In July 2021, Intel Corporation, a leading technology-based company, collaborated with the Central Board of Secondary Education (CBSE) in India to launch an AI-based learning platform named AI Students Community (AISC). The collaboration is to integrate students from both non-CBSE and CBSE schools to learn from Intel’s AI-certified experts.

Related Press Release@ AI In Education Market Report

AI In Education Market Report Highlights

· On the basis of component, the solutions segment held the largest revenue share in 2021 and is expected to retain its lead during the forecast period. The services segment is anticipated to expand at a CAGR of 37.1% during the projection period

· By deployment, the cloud segment held the largest revenue share in 2021 and is projected to maintain its lead in the forecast period. The growth of the cloud segment is attributed to the rise in the acceptance of cloud services by schools, institutions, and corporates due to the low cost of deployment. The on-premises segment is anticipated to expand at a CAGR of 34.7% during the assessment period

· Based on technology, the machine learning segment dominated the market in terms of revenue in 2021 and is projected to maintain its lead during the forecast period. The natural language processing (NLP) segment is likely to register a lucrative CAGR of 36.6% during these years. The growth of the NLP segment can be attributed to the increasing demand for virtual learning by schools and universities, coupled with the rising investment in technological development by educational institutes

· In terms of application, the learning platform and virtual facilitators held the largest revenue share in 2021. The smart content segment is likely to register the fastest CAGR of 37.8% during the forecast period. The growth of the smart content segment can be mainly attributed to the increasing adoption of virtual learning platforms by many educational platforms

· By end-use, the higher education segment dominated the market in 2021. The K-12 education segment is likely to register a CAGR of 34.9% during the projection period

· North America captured the largest revenue share in 2021 and is expected to retain its position during the forecast period. This can be attributed to the existence of a large number of market players and high spending by people on virtual learning for K-12 schools in the region

· Asia Pacific is expected to expand at the highest CAGR of 38.7% during the assessment period. The market growth in this region is primarily due to the increasing investment by the governments as well as private organizations to support and bring AI advanced technology usage across the region