Technology Market report

Tuesday, 9 November 2021

Construction And Design Software Market Worth $18.18 Billion By 2028

The global Construction And Design Software Market size is expected to reach USD 18.18 billion by 2028, expanding at a CAGR of 7.7% from 2021 to 2028, according to a new study by Grand View Research, Inc. The growing demand for effective tool management in the construction industry is triggering the adoption of construction and design software and consequently acting as a driving factor for market growth. The development of digital capabilities such as IoT, Geographic Information Systems (GIS), Building Information Modeling (BIM), and recent improvements in drones and Unmanned-Aerial-Vehicle (UAV) technology can improve accuracy and speed across businesses in the construction industry. The aforementioned factors are considered as the major drivers that are likely to create the need to adopt construction and design software across businesses. As construction and design software requires high capital investments, it makes SMEs difficult to afford their business lines, which is expected to restrain the market growth.

Growing preference for better interior design and decoration among customers and end-use industries is one of the primary factors driving the market growth. Rising government initiatives for promoting construction and real estate globally and the growing need for higher productivity are anticipated to further fuel the demand over the forecast period. Increased investment in advanced technologies is driving competition among market players, thereby leading to the development of new design software, such as DataCAD, AutoCAD, SketchUp, and Revit, with improved technology and enhanced capabilities.

The global market for construction and design software is also fueled by growth factors such as the rising adoption of cloud-deployed construction software, increasing demand for higher accuracy and efficiency in the construction industry, and the ongoing number of M&A in the construction and IT industry. For instance, in February 2018, Trimble, an advanced location-based solutions provider, acquired e-Builder, a privately held SaaS-based construction program management solution provider, to boost industry transformation. Moreover, the integration of BIM in sustainable architecture and increasing investments in the construction sector are major opportunities for the market players operating in the market.

Related Press Release@ Construction And Design Software Market Report

Construction and Design Software Market Report Highlights

In terms of function, the project management and scheduling segment dominated the market in 2020 and is expected to retain its dominance over the forecast period. The segment growth can be attributed to the increased projectification of work and higher demand for disciplines such as product and project management globally
In terms of deployment, the cloud segment is anticipated to expand at the highest CAGR of 9.3% over the forecast period. Cloud-based solutions allow businesses to access data across connected devices at any point, which increases the scope for customization and enables the implementation of analytical tools across multiple business channels
In terms of end use, the architects and builders’ segment is expected to expand at a promising CAGR from 2021 to 2028. This growth can be attributed to the increasing demand for design skills to maximize the project's potential and growing concern for necessary consents such as listed building, planning, and building regulation approvals. Moreover, architects & builders provide designs tailored to the customer's budgets, help reduce cost by providing thorough construction information, and ensure on-time delivery of projects
In terms of region, Asia Pacific is anticipated to emerge as the fastest-growing regional market due to the rapid growth of economies vis-à-vis infrastructural and industrial projects. Most Asian countries such as China, Japan, India, and Singapore require a substantial amount of spending directed toward infrastructure development, which is expected to accelerate the demand for construction and design software across the Asia Pacific

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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Urban Planning Software And Services Market: Future Trends, Revenue Growth & Leading Players, Forecast To 2028

The global Urban Planning Software And Services Market size is anticipated to reach USD 192.35 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.2% from 2021 to 2028. Urban planning is one of the most crucial aspects of any country’s development plans as it involves the development and efficient use of land, public welfare, and ensures the safety of the environment. Urban planning is a heterogeneous and complicated process that comprises utility systems, distribution chains, communication networks, infrastructure, and several other elements and processes. Urban planners are adopting urban planning software and services to handle such intricate processes and conceptualize urban designs and plan layouts.

The Covid-19 pandemic severely impacted business operations and processes across several industries. As governments majorly diverted their focus from other development activities to the healthcare segment, the urban planning software and service market was negatively impacted. However, the urban planning software and services industry is expected to recover post-pandemic owing to the need for better urban planning to mitigate future risks of uncertain natural events.

The market has also benefitted from growing investments by various governments in smart cities projects, which, in turn, are driving increased investments in urban planning software and services. For instance, currently, over 26 smart cities projects are in progress across Association of Southeast Asian Nations (ASEAN) countries.

Related Press Release @ Urban Planning Software And Services Market Report

Urban Planning Software And Services Market Report Highlights

In terms of component, the software segment accounted for the largest revenue share in 2020 and is expected to retain its dominance over the forecast period. This can be attributed to the increasing investment in technology by governments for urban development. The service segment is anticipated to expand at the highest CAGR of 5.1% over the forecast period
In terms of deployment, the cloud-based segment accounted for the largest revenue share in 2020 and is expected to retain its dominance over the forecast period. Additionally, this segment is likely to register the highest CAGR of 4.5% over the forecast period. The growth of this segment can be attributed to factors such as quick configurability, cost efficiency, and flexibility
Based on end-user, the government segment accounted for the largest revenue share in 2020 and is expected to retain its dominance over the forecast period. This can be attributed to growing investment by various governments in smart city technologies and urban development. For instance, in June 2020 the Singapore Government Technology Agency announced that it spent approximately USD 3.5 billion on information technology in 2020, which is 30% more compared to 2019. The real estate and infrastructure companies segment is anticipated to expand at the highest CAGR of 4.9% over the forecast period
Europe captured the second highest market in 2020 and is expected to retain its position over the forecast period. This can be attributed to the growing preference for eco-friendly city infrastructures. Additionally, a rise in the number of infrastructure development activities is also driving the market growth in this region. The Asia Pacific region dominated the market in 2020, and it is anticipated to expand at the highest CAGR of over 6.1% over the forecast period

U.S. Digital Signage Market Size is Estimated to Witness 6.0% CAGR till 2028

The U.S. Digital Signage Market size is anticipated to reach USD 8.0 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.0% from 2021 to 2028. The demand is expected to increase as advertisers, enterprises, and corporates are increasingly adopting digital signage to promote and distribute content. Advancements in display technology are also likely to drive the market. Furthermore, the increasing demand for digital signage solutions from the industries such as healthcare, transportation, hospitality, and retail, is likely to propel the market growth over the forecast period.

The growing adoption of digital signage is due to the increasing demand for advertising content with enhanced quality and better sharpness. The rising demand for 4K embedded digital displays is addressing the increase in the need for enhanced sharp images. Digital signage above 52 inches is poised to gain popularity over the forecast period due to their increasing popularity among advertisers for outdoor advertising.

Besides, software providers focus on providing design solutions compatible with multiple operating systems, to new entrants in the digital signage industry. The design solution providers target new entrants with solutions compatible with different operating systems. They are particularly offering cloud-based design solutions that can aid in managing advertising content being displayed on digital signage.

The operational cost of companies is reduced by cutting down the use of paper for advertisement and deviating from traditional marketing activities. The combination of LED-backlit panels is resulting in substantial energy savings. A decrease in energy consumption owing to the adoption of enhanced technologies such as LED is attracting enterprises to elect for digital signage.

The West region accounted for the largest market share in 2020. It is estimated to remain the highest revenue-generating regional market until 2028. The Midwest region is projected to exhibit the highest CAGR during the forecast period owing to burgeoning sales of digital signage in multiple verticals of various states.

Furthermore, the software providers are focusing on the new entrants of the digital signage industry by providing design solutions that are compatible with the Android operating systems. The use of digital signage helps in optimizing and reducing the company’s long-term operational spending. This drop in the operational expenditure is due to avoiding the use of paper for advertisement purposes and frequent damages and changes that are associated with the traditional marketing activities.

Related Press Release@ U.S. Digital Signage Market Report

U.S. Digital Signage Market Report Highlights

The LCD technology segment commanded the leading market share in 2020, owing to the lower manufacturing cost and benefits associated with the LCD technology
The retail industry was the most prominent application segment in the market in 2020. It is estimated to maintain its position through to 2028, as there is high competition in the industry, which augments the need for an innovative advertising medium
In terms of display, the transparent LED screens segment is projected to witness the highest CAGR during the forecast period as the high level of transparency and resolution offered by them proves to be lucrative for advertisers.
The hardware segment, which includes displays and media players, is anticipated to dominate the market throughout the forecast horizon as users remain keen on adopting different types of displays
The out-store segment is expected to witness a considerable growth rate owing to the growing adoption of digital signage in various outdoor applications
The West was the highest revenue-generating region in 2020 owing to the adoption of digital signage across applications. The region comprises the largest number of digital signage companies manufacturing electronic display products, which is expected to further fuel the growth

Monday, 1 November 2021

U.K. Digital Transformation Market by Accenture PLC, Adobe Inc., Broadcom Inc., Dell Inc., Google LLC

The U.K. Digital Transformation Market size is expected to reach USD 68.81 billion by 2028, registering at a CAGR of 22.8% from 2021 to 2028, according to a new study by Grand View Research, Inc. The rising demand for advanced technologies such as Artificial Intelligence (AI), cloud computing, and the Internet of Things (IoT) is promoting the adoption of connected devices as well as data-rich and analytics solutions across businesses and enterprises. These solutions enable the integration of intelligence capabilities into business operations and practices to facilitate improved and effective customer engagements while driving operational optimization.

The increasing use of mobile devices, smartphones, and applications across business processes and departments is also promoting digitization and is expected to drive the market growth over the forecast period. The rapid shift from traditional to digitalized business models is facilitating the introduction of additional advanced technological products and services across industries and sectors, which is anticipated to further drive the market growth.

The COVID-19 pandemic has posed a significant challenge for the global economy. Digital transformation can help enterprises survive the business continuity challenges presented due to the lockdown, work from home, social distancing, and other mandates. Some organizations faced challenges due to the lack of digital strategy and infrastructure or tools to work remotely. Although the COVID-19 pandemic has adversely affected personal, professional, and community life, it has presented business opportunities for this market. Digital transformation solutions are expected to help teams learn to collaborate and businesses can function effectively without having people in the office. This scenario is expected to propel the digital transformation market growth in the U.K.

Related Press Release@ U.K. Digital Transformation Market Report

U.K. Digital Transformation Market Report Highlights

In terms of solution, the social media segment is anticipated to register considerable growth over the forecast period. Social media is increasingly being employed to build and enhance the customer experience of a brand. This medium is utilized for maintaining public relations, promoting sales, and marketing the available products and services
In terms of deployment, the hosted segment is anticipated to expand at the highest CAGR from 2021 to 2028. Hosted solutions allow companies to access data across connected devices anytime, which surges the customization scope and enables the application of analytical tools across several business channels
In terms of enterprise size, the large enterprise segment is anticipated to witness significant growth. This growth can be attributed to the growing demand for robust monitoring solutions and automation abilities for strategic decision-making and resource allocation across large organizations
In terms of end use, the retail segment is expected to expand at a promising CAGR from 2021 to 2028. The significant growth of this segment can be attributed to the increasing penetration of the internet and the growing usage of mobile applications for making purchases and related decisions. Moreover, digitalization can be employed to improve the in-store experience by using kiosks and interactive displays to help customers look through the entire catalog of offerings

U.K. Point Of Sale Software Market is Predicted to Witness 8.1% CAGR till 2028

The global U.K. Point Of Sale Software Market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hotels witnessed a shutdown and revenue loss. Although the overall POS terminal market is witnessing a decline in demand, the need for POS software to continue running an online business and the adoption of mobile POS aggregated the POS software market growth in the U.K.

The U.K. government realized the application of the POS systems and mentions them in its schemes. For instance, the “Point of Sale VAT Retail Scheme" in the U.K. requires retailers to apply appropriate VAT for calculating the tax on retail sales. The retailers use the EPOS system to help distinguish between goods sold at different rates of VAT. Moreover, government entities are adopting POS solutions to avoid payment processing challenges while handling varied compliance and accountability obligations. Streamlining public-sector payments to reduce the administrative burden is expected to continue to boost the sale of POS terminals and their solutions across the government sector. Additionally, encouragement from the government to adopt cashless payment has been instrumental in fueling the adoption of POS solutions across the retail, restaurant, hospitality, entertainment, and healthcare sectors.

Fast food restaurants have also created shopping apps that help consumers obtain product information, order, and pay using the application. The retailers use POS software at their end to facilitate the management of the online sale and transaction details. Burger King, KFC, Subway, Dominos, Pizza Hut, and McDonald's are some fast-food chains that added payment functionality in their apps for greater convenience. Other merchants have adjusted their retail points to accept payment via mobile wallet apps such as PayPal, Google, Lemon, Geode, Square Wallet, Venmo, Chirpify, PayToo, and Ziddu. These payment methods have recently gained more traction owing to the need for using cashless payment and limit the spread of COVID-19. This advancement in POS payment applications is expected to augment the demand for POS software among end-users in the country.

Related Press Release@ U.K. Point Of Sale Software Market Report

U.K. Point Of Sale Software Market Report Highlights

The U.K. POS software market is expected to expand at a significant CAGR of 8.1% from 2021 to 2028. POS software turns POS terminals into the most multifaceted systems owing to their diverse features for managing every aspect of a business. The year-on-year growth can be attributed to increasing awareness and adoption of mPOS across various industries such as retail, hospitality, restaurant, and healthcare
The mobile POS segment is expected to register the highest CAGR over the forecast period. The segment growth can be attributed to mPOS software implementations across industries to conduct financial transactions, manage inventory, track sales information, and facilitate rewards for improving business function and customer experience
The hospitality segment is expected to expand at the significant CAGR from 2021 to 2028 as POS systems with compatible software at hotels can act both as a standalone system or can be integrated with the property management solution to provide a complete hotel technology solution
NCR Corporation; Revel System Inc.; Oracle; Lightspeed; and ShopKeep are some of the prominent market players. Their large ecosystem of technology and channel partners and distributors has been instrumental in helping them grow

Europe Indoor Farming Market Size Worth $23.26 Billion By 2028

The Europe Indoor Farming Market size is expected to reach USD 23.26 billion by 2028, registering a CAGR of 10.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. The increase in demand for healthy food in Europe is driving the market growth. Additionally, the rising number of people growing healthy food in their own houses is also a major factor contributing to the growth.

The growing adoption of hydroponic systems in indoor farming is creating new opportunities for market growth in Europe. Hydroponics is the practice of growing plants without soil. It offers various advantages such as fostering strong yields, rapid growth, and 90% less water usage than traditional methods.

Nowadays, various agri-tech companies in Europe are increasingly investing in aquaponics farms as they eliminate soil-borne plant and fish diseases. For instance, in April 2021, Les Nouvelles Fermes, an urban agriculture company, raised USD 2.36 million to construct urban aquaponics farms in Europe.

The outbreak of the COVID-19 pandemic has negatively impacted market growth. Many countries initiated border closures to curb the spread of the virus, thereby causing interruptions in the supply chain of indoor farming. Moreover, the suspension of production facilities led to delays in the supply of agriculture chemicals such as herbicides and pesticides. However, increase in demand for organic food across the Europe due to pandemic is anticipated to drive the growth of the market post COVID-19 outbreak.

Related Press Release@ Europe Indoor Farming Market Report

Europe Indoor Farming Market Report Highlights

The greenhouses segment dominated the market in 2020. The segment growth can be attributed to the increase in demand for greenhouses among farmers as it enables them to enhance the quality and quantity of agricultural products
The hardware segment dominated the market in 2020. The segment growth can be attributed to the rise in demand for hardware among farmers for maintaining an ideal farm environment
The fruits, vegetables, and herbs segment dominated the market in 2020. The segment growth can be attributed to the increase in cultivation of commonly grown fruits and vegetables in greenhouses
The U.K. dominated the market in 2020 owing to an increase in number of vertical farms in the country

Sports Betting Market by 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated

The global Sports Betting Market size is expected to reach USD 140.26 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.1% from 2021 to 2028. The growing digital infrastructure and the penetration of connected devices are the key factors driving the market. Additionally, the increase in the number of sports events and leagues is driving the demand for sports betting platforms.

Sports betting is an activity of foretelling sports results and placing a bet on the result. Most bets are placed on sports, such as football, baseball, basketball, hockey, cricket, boxing, and auto racing. However, sports betting also extends to non-athletic events, such as horse racing and eSports.

The COVID-19 pandemic led to the cancellation of sports events, which reduced sports betting opportunities. However, the sports betting industry is expected to witness lesser financial damage compared to other industries. As a result of the lockdown of land-based betting facilities, many customers/bettors shifted to online betting platforms. During lockdowns, the online sports betting industry witnessed an increase in participation as users had more time to spare on their phones and desktop computers, making it convenient for them to place bets.

The market has also benefitted from the growth in internet penetration, which is driving increased investments in online sports betting platforms. For instance, according to Global Social Media Overview April 2021 by DataReportal, there are more than 4.8 billion internet users across the world. Participation in online betting permits players to monitor betting activities in real-time through internet-connected devices.

Sports betting platform providers are investing in research & development activities to introduce innovations in the market and offer a better experience to users. Additionally, the growing competition is driving innovations in the sports market.

Related Press Release@ Sports Betting Market Report

Sports Betting Market Report Highlights

By platform, the online segment accounted for the largest revenue share in 2020 and is expected to retain its lead over the forecast period. This can be attributed to the increase in the penetration of smartphones and connected devices across the world. The segment is anticipated to expand at the highest CAGR over the forecast period
In terms of sports type, the football segment accounted for the largest revenue share in 2020 and is expected to retain its lead over the forecast period. Additionally, this segment is likely to register the highest CAGR over the forecast period
Europe dominated the market in 2020 and is expected to retain its position over the forecast period. This can be attributed to factors such as safety laws and regulations for sports betting, popularity and large fan base of football, and the presence of many market players in the region