Technology Market report

Monday, 21 March 2022

Customer Experience Management Market by Adobe, Avaya Inc., Clarabridge, Freshworks Inc., Genesys

The global Customer Experience Management Market size is expected to reach USD 38.98 billion by 2030 and is expected to register a significant CAGR of 18.1% from 2022 to 2030, according to the new report by Grand View Research, Inc. The growing importance of understanding customer behavior and their preferences is driving various organizations and brands to provide the best service performance for modern customers in real-time.

Moreover, the growing use of Artificial Intelligence (AI) and its applications by organizations to communicate with their consumers is expected to boost the growth of the Customer Experience Management (CEM) market in the forthcoming years. Several brands and organizations are increasingly depending on customer experience management tools to determine customers’ requirements, which are perceived to be significant to sustain in this competitive market.

The continuous demand from customers for a personalized experience across several industries, such as IT, telecom, retail, and BFSI, is a key driving factor for the market growth. Customer experience management allows smooth connectivity between companies and customers for achieving the organizational goal as well as customer expectations. It blends customer satisfaction, loyalty, retention, and customer-centricity.

With the advancements in technology, consumers are using numerous devices to understand, evaluate, and finalize products. The digital transformation has helped consumers to demand a smooth experience while interacting with companies across multiple touchpoints and channels. Several organizations are highly involved in developing and restructuring their customer experience management through artificial intelligence and its applications to retain their customers and successfully position and reposition their brands and products.

Related Press Release@ Customer Experience Management Market Report

Customer Experience Management Market Report Highlights

The popularity of speech analytics tools has grown with the increasing number of voice-enabled searches and call centers. Speech analytics enables enterprises to identify the areas of trends, opportunities, and concerns through calls. This will improve the agent’s performance, monitor compliance, streamline business processes, improve first call resolution, and enhance customer experience
The mobile touchpoint market is anticipated to register a CAGR of 19.9% over the forecast period. The driving factor for the growth is the increased use of smartphones, which is empowering enterprises to develop mobile marketing strategies. Moreover, mobile CEM solutions enable mobile carriers to take part in building sustainable customer relationships via customer-initiated requests
The cloud-based segment is expected to attain significant growth in terms of revenue by 2030, registering a CAGR of 20.3% over the forecast period. This technology offers low-cost integration of CEM systems within the existing environment. It is widely used across the end-use segment for its flexibility and scalability and will play a vital role in increasing the growth of this market
The BFSI segment is expected to register the highest CAGR of 19.5% over the forecast period as these solutions and services provide quality standards and reduce internal inefficiencies in BFSI enterprises. The major factors included for driving the growth are increasing adoption of cloud-based deployment models and investments in advanced technologies to offer digital finance management assistance
The Asia Pacific regional market is expected to register the highest CAGR of 19.9% over the forecast period. With huge presence of call centers, increasing trend of social media marketing, and growing emphasis on customer satisfaction across industries and sectors are driving factors for the growth

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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Content Delivery Network Market Size, Share, Analysis and Forecast to 2030

The global Content Delivery Network Market size is expected to reach USD 95.37 billion by 2030, registering a CAGR of 23.0% from 2022 to 2030, according to the new report by Grand View Research, Inc. The major factors expected to drive the market’s growth are rising demand for advanced technologies such as Augmented Reality (AR) and Artificial Intelligence (AI), increasing accessibility and affordability of mobile and broadband networks, reducing costs, and increasing demand for affordable smartphones and data plans, are giving the opportunities to the market players to launch advanced CDN solutions.

The increasing population and the advancements in network technologieslead to high content consumption, there by increasing the demand for efficient CDN solutions. Furthermore, the digitalization of the media andentertainment industry is boosting the overall market growth. However, data security and information privacy are likely to limit market growth. Several initiatives have been taken by the government in different countries to provide high-speed internet facilities in both rural and urban areas and also the recent improvements in internet speed have increased data consumption.

This has led to cause congestion and latency issues, and rise in internet traffic, and created massive growth in the demand for CDN solutions to provide efficient content delivery to the end users. This has a direct impact on the enterprises where daily operations and businesses depend on the delivery speed of the content, webpage performance, and the time taken for a webpage to load, by which they can strengthen their business. This has compelled organizations to utilize CDN solutions for driving process optimization and delivering better customer experience and service.

Related Press Release@ Content Delivery Network Market Report

Content Delivery Network Market Report Highlights

The dynamic CDN segment is anticipated to register a significant CAGR over the forecast period. The CDN solution and content providers and media broadcasters are playing a vital role in empowering their customer base and revenue by considering network and delivery optimization, for the growth
The web performance optimization segment is expected to register a CAGR of 23.1% over the forecast period due to the growing demand for Quality of Experience (QoE) and Quality of Service (QoS)
The e-commerce segment is anticipated to register a significant CAGR of 22.9% from 2022 to 2030. As the online shopping spaces evolve, the companies want to ensure adequate website acceleration and enhanced security. Additionally, solution providers need to deliver a compelling web content experience for e-commerce websites and continue driving the growth
The peer-to-peer service provider segment is expected to grow considerably at a significant CAGR from 2022 to 2030 due to the rising demand for network optimization, content acceleration, and media delivery
Increasing volumes of online content due to extensive usage of various social media platforms necessitate peer-to-peer CDN solutions for network optimization and content delivery

Construction Equipment Market Worth $161.99 Billion By 2030

The global Construction Equipment Market size is projected to reach USD 161.99 billion by 2030, registering a 3.9% CAGR from 2022 to 2030, according to a new study by Grand View Research Inc. Increasing investments by governments worldwide for developing public infrastructure is one of the prime factors that is expected to drive the market growth over the forecast period. Furthermore, the growing population in emerging economies such as India has resulted in increased residential and commercial construction activities, a trend that is expected to continue to increase the demand for construction equipment. Thus, the market is anticipated to grow steadily over the forecast period.

Favorable government initiatives are expected to drive the growth of the market in the forthcoming years. For instance, in August 2021, the federal government of the U.S. announced stimulus packages including USD 550 billion in new federal investment for modernizing infrastructure are expected to drive construction spending in the country. Similarly, in 2019, the Government of India announced to invest USD 1.4 trillion for infrastructure projects from 2019 to 2023; this signifies the upcoming demand for construction machinery in the country over the forecast period.

The COVID-19 outbreak hampered the growth of the market, due to supply chain disruptions and temporary shutdowns of dealer stores. However, in 2021, there was a sudden increase in demand for construction equipment due to the resumption of construction activity for halted and new projects. An abrupt demand for construction and infrastructure resulting in a shortage of inventories leading to an increase in the price of the commodity of base materials are expected to hinder the growth of the market over the forecast period.

Related Press Release@ Construction Equipment Market Report

Construction Equipment Market Report Highlights

The earthmoving machinery segment dominated the market in 2021. The segment is expected to witness progressive demand owing to the increasing investments for industrial and commercial construction projects in emerging economies of the Asia Pacific and the Middle East and Africa
The material handling machinery segment is expected to register a CAGR exceeding 4% over the forecast period. It can be ascribed to an increase in demand for crawler cranes that offer greater convenience and ease of accessibility in small construction sites, especially in urban areas
The concrete and road construction machinery is projected to expand at a CAGR exceeding 5% over the forecast period. Favorable government initiatives to increase their investment in highway construction are anticipated to drive the growth of the segment

Third-party Logistics Market by BDP International, Burris Logistics, C.H. Robinson Worldwide, Inc., Deutsche Post AG (DHL Group), CEVA Logistics

The global Third-Party Logistics Market size is expected to reach USD 1,998.73 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The advent of new technologies is changing the 3PL industry dynamics. The advanced data collection capabilities, warehouse automation, and digitalization of the entire supply chain are enabling companies to adopt a consistent innovative, customer-centric, and agile approach. As a result, 3PL companies are providing technologically driven services by investing in blockchain solutions, mobile technologies, and 3PL software to gain a competitive advantage in a fiercely competitive marketplace.

The Internet of Things (IoT) and cloud-based logistics management solution turn the data into actionable value-added information, which can shape the strategic decision-making process and increase productivity. Some of the capital-intensive organizations are increasing their Information Technology (IT) spending and are using predictive analytics for supply chain enhancement. For instance, C.H. Robinson Worldwide, Inc. is using Artificial Intelligence (AI) technology to analyze customer data and get notified about extreme weather conditions or traffic disruption. Logistics automation is expected to play a vital role in the growth of the market. The use of robots in warehouses and unloading docks helps streamline order fulfillment services.

The use of Automated Guided Vehicle (AGV) can help lessen human errors, resolve material handling issues, ensure movement of high-volume goods, and increase accuracy & repeatability. To deliver immediate value and long-term returns, companies are widely accepting logistics automation. The value-added logistics services are expected to witness the highest CAGR over the forecast period. Key companies are offering comprehensive logistics services to ensure the competitiveness of their businesses. Shippers are reducing operational costs by shifting their focus from transportation and back-office functions, such as warehousing, order taking & picking process, kitting & final assembly, product localization, and labeling. Thus, the value-added logistics services are becoming a boon for shippers to mitigate inventory & transportation costs.

Related Press Release@ Third-party Logistics Market Report

Third-party Logistics Market Report Highlights

The market is anticipated to witness substantial growth during the forecast period due to factors, such as the development in logistics infrastructure in the Asia and Middle East regions, the rapid growth of the e-commerce sector, and the development of new technologies
The value-added logistics services segment is expected to register the highest CAGR over the forecast period. The 3PL companies are emphasizing value-added logistics services to unveil their unique capabilities and provide enhanced customer experience, facilitating the strong growth of the segment
The retail end-use sector segment is expected to register the fastest CAGR over the forecast period owing to the benefits, such as same-day delivery and fulfillment capabilities
The roadways segment accounted for the largest share in 2021 owing to the growing public-private partnerships model and increased emphasis on logistics infrastructure
Globalization, along with sustainable economic growth, is expected to drive the growth of airways logistics mode over the forecast period
Asia Pacific is anticipated to register the fastest CAGR from 2022 to 2030 owing to the growing transport infrastructure and effective transit of freight and goods among regional emerging countries

Cloud Computing Market - Future Trends, Revenue Growth & Leading Players, Forecast To 2030

The global Cloud Computing Market is expected to reach USD 1,554.94 billion by 2030, registering a CAGR of 15.7%, according to a new study conducted by Grand View Research, Inc. Cloud systems thrive at streamlining inter-organizational communication and providing a simplified alternative for managing corporate processes. Due to cost savings, flexibility and scalability, data security, data storage, and team collaboration, about 70% of firms have already shifted to cloud-based computing for part of their services. For instance, in October 2020, Microsoft Corporation joined with ZEISS Group to improve health care and manufacturing quality through data solutions. Together with the simplicity of deployment and lower total cost of ownership, these advantages are likely to raise cloud computing demand throughout the forecast period, driving the market growth.

The outbreak of the COVID-19 pandemic is likely to impact businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges due to this unforeseen outbreak. Although all the outcry of COVID-19 has produced personal, professional, and community life, it also presented business opportunities. Thus, cloud computing solutions will support teams in learning to collaborate, and businesses can realize they can function effectively without having people in the office. This scenario is expected to propel market growth. To maintain employee well-being and operational efficiency, a growing number of businesses across multiple verticals have adopted the work-from-home model, driving up demand for Software-as-a-Service (SaaS)-based solutions.

Organizations are adopting cloud computing services as they provide insights into partnering tactics, go-to-market approaches, investments, alliance and acquisition strategies, and best operational practices. Moreover, cloud computing services help measure, correlate, and analyze business activities and ensure that company operations are in line with the customer demands. To get significant business insights for decision-making, many firms are investing in big data, IoT, artificial intelligence, and 5G technologies. Big data technologies are becoming more popular because of the numerous advantages they provide, such as data integration, data segmentation, and business intelligence, to name a few. The growing need for analytics and big data technologies in cloud computing services is opening up plenty of new chances for the market to expand.

Key vendors in the market focus on introducing new cloud solutions, services, and workloads and upgrading of capabilities of their current offerings to strengthen their foothold in the market. Furthermore, vendors also engage in mergers and acquisitions to strengthen their market position and enhance their cloud capabilities. For instance, in October 2020, SAP SE announced an agreement to acquire Emarsys, an omnichannel customer engagement platform provider. The acquisition allowed SAP SE to add the Emarsys customer engagement platform into SAP S/4HANA and Experience Management technology. Emarsys technology would allow SAP Customer Experience solutions to link commerce signals with the back office and activate the preferred channel of the customer with a relevant and consistently personalized message, thereby enabling customers to choose their engagements.

Related Press Release@ Cloud Computing Market Report

Cloud Computing Market Report Highlights

The Infrastructure as a Service segment is expected to register the highest CAGR over the forecast period owing to the increasing demand to reduce IT complexities, hire a skilled workforce to manage the IT infrastructures, and reduce deployment costs for data centers to drive the adoption of IaaS
The small and medium enterprise segment is anticipated to emerge as the fastest-growing segment owing to reduced costs of IT hardware and software, improved processing capacity and elasticity of storage, and greater mobility of access to data and service. The increasing adoption of cloud technology among SMEs in developing regions is likely to boost the market growth over the forecast period
The hybrid deployment segment is anticipated to emerge as the fastest-growing segment owing to the growth of cloud and industrialized services and a decrease in traditional Data Center Outsourcing (DCO). Moreover, edge computing has emerged as one of the most important drivers likely to accelerate the demand for the adoption of hybrid cloud models across organizations worldwide
The manufacturing end-use segment is expected to register the highest growth rate over the forecast period. Owing to various functionalities, cloud computing aids manufacturers in utilizing multiple types of production systems, ranging from High-Performance Computing (HPC) and 3D printing to IoT and industrial robots. Cloud services also offer the platforms for continuous agility, innovation, business focus, availability, ability to scale and flexibility, and cost savings which are further projected to accelerate the adoption rate of cloud computing across the industry.
Asia Pacific is expected to emerge as the fastest-growing region in the market owing to the increasing focus of SMEs and large enterprises to enhance their digital initiatives. The growth in the IT services industry in markets such as India, China, and other South Asian regions is also expected to propel the regional market growth over the forecast period.

Thursday, 17 March 2022

Interactive Kiosk Market Size Worth $52.74 Billion By 2030

The global Interactive Kiosk Market size is expected to reach USD 52.74 million by 2030, registering a CAGR of 7.1% over the forecast period, according to a new study conducted by Grand View Research, Inc. Increasing consumer involvement in the purchase process and an extensive focus on customized service delivery by industry players are the major factors driving the adoption of interactive kiosks. The geographical expansion and service enhancement using interactive kiosks enable companies to offer convenient, swift, and hassle-free service to customers with enhanced safety and security. The North American regional market dominated the global market in 2021.

The region’s growth can be attributed to incumbents of the retail and BFSI verticals, who continue to deploy interactive kiosks as part of their efforts to enhance the consumer experience. However, the Asia Pacific regional market is expected to register the fastest CAGR over the forecast period as the retail, hospitality, BFSI, and healthcare verticals continue to grow. Incumbents of these industries continue to emphasize customer engagement. Based on end uses, the market has been further segmented into BFSI, retail, food & beverage, healthcare, government, travel & tourism, and others. Manufacturers have developed multiple self-service kiosks solutions for segments, such as travel & tourism, and healthcare.

These interactive kiosks enable customers to carry out self-check-in/-out in hotels, carry out self-baggage check-in, book tickets, view product information, book appointments, and so on. Stringent regulatory and legal standards, such as the General Data Protection Regulation (EU GDPR), Americans with Disabilities Act (ADA), and UL standards, are the significant challenges impacting the broader adoption of interactive self-service kiosks. GDPR compliance focuses on protecting customers’ private data to enhance safety and prevent unauthorized access to private information. The ADA standards provide access specifications to any public access system for disabled individuals. However, the threat of cyber-attacks and high costs of installation, maintenance, &support may hinder the market growth.

Related Press Release@ Interactive Kiosks Market Report

Interactive Kiosk Market Report Highlights

The market is technology-driven and rapidly evolving market due to continuous advancements in communication and payment technologies
This, in turn, has widened the scope of application in various industries, such as retail, banking, hospitality, entertainment, and government
The declining prices of hardware and improved transaction safety features have led to increased product adoption by various businesses
Mandatory government regulations regarding data privacy/protection and regulatory standards, such as ADA and UL, will have a major impact on the adoption of interactive kiosks as a service delivery tool
Asia Pacific regional market is expected to witness the fastest CAGR over the forecast period

Thursday, 3 March 2022

Pay TV Market Worth $265.44 Billion By 2028 | CAGR: 1.7%

The global Pay TV Market size is anticipated to reach USD 265.44 billion by 2028, exhibiting a CAGR of 1.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising competition from OTT media providers is promoting pay TV operators to disrupt existing business models and strategize more efficient profit generation methodologies. Additionally, emerging players, such as MOBITV, offer customized, cost-effective, and flexible options to their customers according to their demands, thus ensuring customer satisfaction. This is expected to promote new and existing players to diversify their existing service offerings and ensure healthy competition in the market.

The IPTV segment is expected to witness significant market growth over the forecast period due to the advent of 5G technology. Increased bandwidth and enhanced ability to build virtual end-to-end networks for specific applications is a major driving factor for the industry growth. Additionally, the rapid proliferation of the 5G delivery model in emerging economies is expected to provide consumers with a high-definition 4K viewing experience. Moreover, the adoption of 5G integrated with IPTV services is expected to enable the hospitality industry to improve its service offerings. The technology is expected to facilitate more efficient data collection, analysis, and optimization; to offer a more personalized TV viewing experience to its guests.

Furthermore, Multi-access Edge Computing (MEC) technology is expected to bring content and applications closer to the network edge, thus reducing latency and enable service optimization. MEC facilitates users to access content with minimum delay and increase IPTV network capacity via Software-Defined Networks (SDN), which improves the user’s quality of experience, thus offering encouraging growth prospects to the market. Additionally, MEC is also expected to offer enhanced security to the network system by safeguarding viewers’ information and television viewing trends, which is expected to offer an impetus to the market growth.

Rising demand amongst customers to access television viewing experience from anywhere in the world on various devices such as mobile phones and tabs is promoting service providers to adopt cloud computing methodologies. Cloud computing offers a flexible and unified platform to holistically manage content monetization and security, thus enabling service providers to simplify business practices. Furthermore, the adoption of cloud technology also enables service providers to leverage the ‘as-a-service’ business model, thereby helping to generate new and sustained revenue streams.

Related Press Release@ Pay TV Market Report

Pay TV Market Report Highlights

The IPTV segment is expected to witness the highest CAGR of more than 8%, owing to augment of OTT media platforms and its high adoption rate amongst customers
Satellite TV segment will continue to witness incrementing market growth. This growth can be associated with the provision of offering customers with low-priced access to live coverage of important events
The Asia Pacific region is expected to emerge as the fastest-growing regional market due to comparatively lower internet rates and daily upgrades being made, thus ensuring easier access to consumers
Some of the key players in the market are DIRECTV, DISH Network Corporation, Carter Communications, Foxtel, and Comcast Corporation