Smart Manufacturing Market Size Worth $514.3 Billion By 2027

The global smart manufacturing market size is estimated to reach USD 514.3 billion by 2027, registering a CAGR of 11.8% over the forecast period, according to a new study by Grand View Research, Inc. The growing adoption of digital technologies such as industrial IoT, autonomous robots, and big data analytics, to enable the fourth industrial revolution are the prime driving factors for the market growth. Moreover, growing emphasis on increasing production efficiency and gaining visibility across the entire value chain will also boost the prospects of smart manufacturing. In addition, availability of advanced technologies such as 3D printing, manufacturing execution systems (MES), and plant asset management solutions to small and medium enterprises is further accelerating the market growth.

The positive impact of government initiatives and investments to promote smart manufacturing adoption has been one of the most influential factors driving the market. The fact that both industrialized countries and developing economies are aggressively pursuing this avenue is expected to further propel the growth. For example, China is reportedly investing over USD 3 billion for advanced manufacturing under the Made in China 2025 program. Similarly, SAMARTH Udyog Bharat, Industry 4.0, initiative is being promoted by Indian government to transform the manufacturing industry in the country.

Automotive and aerospace and defense industries are the leading growth avenues for solution providers with industries such as oil and gas and industrial equipment manufacturing rapidly scaling their digitalization efforts. Moreover, by implementing smart technologies such as 3D printing, American auto manufacturer General Motors (GM) claims to save more than USD 300,000 in 2019. To drive this technology, GM has entered into a partnership with Autodesk Inc. to produce economical and lighter vehicle parts using 3D printers. With the proliferation of 3D printing, simulation, and modeling in manufacturing and design, these industries are expected to continue to maintain a significant growth rate over the forecast period. Though numerous solutions are available in the market, digital twin and real-time analytics are anticipated to spearhead the penetration of digitalization in these industries.

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https://www.grandviewresearch.com/industry-analysis/smart-manufacturing-market

Further key findings from the report suggest:

The software segment is likely to emerge as the fastest growing segment over the forecast period. Increasing demand for factory automation software for varied uses such as factory control, connectivity, quality check, and testing and inspection will foster the segment growth
The MES, 3D printing, and machine vision technology segments are likely to grow rapidly owing to production of industrial goods with high speed, increased precision, and improved quality. Companies that offer consumer products, automotive components, and medical devices are likely to benefit from the utility of 3D printing with machine vision and Artificial Intelligence
The automotive end-use segment is expected to emerge as the fastest growing segment over the coming years
The Asia Pacific regional market is likely to grow at a substantial rate during the forecast period owing to rapid industrial growth, increasing foreign direct investments, and establishment of large multinational companies in the sector
Smart manufacturing is supported by various organizations and consortiums including Industrial Internet Consortium (IIC), Smart Manufacturing Leadership Coalition (SMLC), Industrie 4.0, and MESA International
Key players in the smart manufacturing market include General Electric; Siemens AG; Rockwell Automation Inc.; Honeywell International Inc.; Schneider Electric; Emerson Electric Co.; and Fanuc Corporation
Major companies such as John Deere, Harley Davidson, and General Motors have successfully implemented smart manufacturing in a bid to achieve greater efficiency and effectiveness.

Net-Zero Energy Buildings Market Size Worth $78.79 Billion By 2025

The global net-zero energy buildings (NZEBs) market is projected to reach USD 78.79 billion by 2025, according to the new report by Grand View Research, Inc. Net-zero energy buildings are those buildings where ideally 100% of their energy is generated and met with onsite renewable energy sources, thereby reducing the energy consumption over a span of time. ZNE (Zero Net Energy) buildings include ZNE emerging and ZNE verified buildings.

ZNE verified buildings are those buildings that meet the net energy consumption through onsite renewable energy technologies over a course of time. The energy is produced from onsite renewables instead of fuels such as electric, natural gas, and steam. Whereas ZNE emerging buildings have specified targets for achieving nearly-zero energy but are yet to meet the goals as per the definition of ZNE verified buildings. Such emerging buildings are usually in the planning or designing phase or under construction with less than one year of operation.

Technological advancements coupled with stringent policies and programs are expected to considerably propel the demand and adoption of NZEBs. ZNE projects are targeting buildings such as schools, institutional buildings, corporate offices, and public buildings across the globe. The market is expected to gain traction over the forecast period on account of specified targets and regulations laid down by organizations striving to achieve sustainability and reducing carbon emissions. The U.S. consists of relatively more verified and emerging ZNE buildings than other countries. Projects are being undertaken to convert the districts into nearly-zero energy buildings and green buildings.

The regional laws, authorities, bodies, organizations, concerned government departments are working with regional architects, designers, builder & contractors, equipment manufacturers, and material suppliers to promote self-energy sufficient buildings. The large number of successful projects with the use of current technologies and design approaches have created awareness among the population regarding how realistic and achievable the net-zero energy goals are.

The industry is gaining momentum and is predicted to exhibit robust growth, creating lucrative opportunities for equipment producers, material suppliers, and service providers. HVAC systems are one of the most important and energy-consuming parts in the entire building structure. The HVAC systems segment accounted for the largest market share and is anticipated to continue dominating the market over the forecast period.

The consulting & designing services segment is expected to grow at a notable rate and generate healthy revenue over the estimated duration. Furthermore, local and regional organizations are shifting their focus on the residential sector, which is also expected to drive the segment growth. The European region is likely to project a robust growth rate owing to the rising concerns for environment protection, stringent policies, building codes, and sustainability goals stated by the governments of the countries in this region. Large investments made by regional manufacturers and keen emphasis by the monitoring authorities on the adoption of net-zero energy buildings are the major influencing factors for the regional market’s substantial growth over the forecast period.

In addition to the analysis of global net-zero energy buildings market trends, the report highlights the opportunities and barriers involved in achieving net-zero energy targets. Moreover, it provides a review on the investor opportunities with key questions answered from an investor’s perspective. It also explains the significance of green buildings in improving a business.

Owing to the potential opportunities of the regional market, the energy performance and requirements for different climatic zones, particularly in the European region, is explained in the report. The U.S. accounted for the largest market share in 2016 on account of the large number of ZNE buildings in the country. As such, a list of ZNE verified buildings is provided so as to understand the country’s pattern of adopting the technological concept along with its future demands for net-zero emerging buildings.

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https://www.grandviewresearch.com/industry-analysis/net-zero-energy-buildings-nzebs-market

Further key findings from the report suggest:

The net-zero energy is achievable globally with appropriate building codes, regulations, and monitoring irrespective of the climatic conditions and zones.
The ecological sustainability concept of NZEBs is applicable for almost all building types and sizes, including institutional buildings, university buildings, corporate offices, high-rise and low-rise apartments or bungalows, and manufacturing plants.
Upcoming U.S. projects to convert districts into net-zero energy buildings are expected to lead the country to capture a large market share over the forecast period.
The growing emphasis on converting or refurbishing existing buildings into self-sustainable ones is predicted to drive the market considerably.
The private sector is expected to witness wide opportunities from the globally increasing demand for ZNE infrastructure.
The residential buildings segment is expected to exhibit robust growth over the forecast period.
The walls & roofs segment is anticipated to grow considerably owing to the increasing upgrades and improvements carried out in walls & roofing products.
The European region is projected to exhibit robust growth and generate healthy revenue in the coming years, followed by Asia Pacific region, which is also predicted to grow considerably over the forecast period.
Prominent players in the industry include General Electric, Johnson Controls, Schneider Electric, SunPower Corporation, and Autodesk, Inc., among others.

Nanosatellite and Microsatellite Market Worth $4.95 Billion By 2025

The global nanosatellite and microsatellite market size is expected to reach USD 4.95 billion by 2025, expanding at a CAGR of 22.2% over the forecast period, according to a new report by Grand View Research, Inc. Upsurge in earth observation missions, along with development of Small Satellite Launch Vehicles (SSLV), is expected to propel market growth.

The emerging role of small satellites in the telecom sector has enabled telecom providers to accelerate 5G deployment globally, along with creating market opportunities for satellite communication (satcom) industry stakeholders. Deploying small satellites for 5G deployment can particularly benefit in the form of wide area coverage, cost-effectiveness, and reliability. At the same time, latest technologies, such as new solar panel cell technology and star tracker technology, are also allowing small satellites to strengthen their position in the broader satellite industry.

The growth of the communications sector, coupled with the continued adoption of Internet of Things (IoT), is expected to open opportunities in the global market. The continued adoption of IoT will particularly encourage start-ups to launch their small satellites. For instance, Hiber is expected to launch its first nanosatellite in 2019 to deliver internet connectivity to remote locations using Hiberband modem and support potential IoT projects globally.

Government support is a key factor encouraging companies to launch nanosatellites and microsatellites for communication and navigation, earth observation, and remote sensing applications. Several governments are developing means to utilize the information obtained from such satellites in a more efficient manner for the public sector. For instance, the UK Space Agency’s Space for Smarter Government Program (SSGP) allows departments to share expertise, data, and services related to nanosatellites and microsatellites as well as information obtained from these satellites.

However, despite substantial growth of the global market, frequent delays in satellite launches are leading to skepticism. Nevertheless, independent launch vehicles being developed and low-cost sensors being manufactured by key companies are likely to help overcome these growth barriers.

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https://www.grandviewresearch.com/industry-analysis/nanosatellite-microsatellite-market

Further key findings from the report suggest:

The nanosatellites segment is expected to grow at a significant rate over the forecast period. The progression toward low-cost satellite-based internet services is enabling a transition towards the adoption of these satellites
The earth observation/remote sensing segment is poised to grow at a steady rate over the forecast period as the development of low-mass and low-power navigation sensors in small satellites provides impetus to new remote sensing and earth observation missions
The civil segment is expected to grow at a CAGR of close to 25% over the forecast period as commercialization of small satellites introduces academic institutions and research organizations to space technology
Asia Pacific is expected to be the fastest-growing regional market over the forecast period, owing to increased nanosatellite launches by various academic institutions and increased government support for developing space programs
Key players in the market include GomSpace, Innovative Solutions in Space (ISIS), SpaceQuest Ltd., and Sierra Nevada Corporation.

Carry Cases Market Size Worth $9,011.3 Million By 2025

The global carry cases market size is estimated to reach USD 9,011.3 million by 2025, registering a CAGR of 5.9% from 2019 to 2025, according to a new study by Grand View Research, Inc. The increase in the level of disposable income has enabled consumers to spend on gadgets such as notebooks and tablets. Furthermore, the growth of the e-commerce industry has stimulated the sale of accessories such as backpacks, sleeves, and other carry cases.

The introduction of multiple models of laptops is expected to promote the market growth since devices of different sizes and designs require different cases. Moreover, the introduction of smart cases is expected increase customer adoption as it improves the functionality of the cases. For instance, carry cases are available that are made of special material that blocks RFID signals to protect credit cards and passport from wireless identity theft.

The market is lucrative in developing regions such as Asia Pacific due to emerging businesses that implement BYOD. The adoption of BYOD improves work flexibility in terms of flexibility of employee work hours and work access from anyplace. Moreover, it helps increase productivity and reduce operation costs for the organization. Thus, it increases the usage of wireless connected devices such as tablets and laptops, which in turn increases the usage of products such as sleeves and messenger bags. Furthermore, innovative product design is expected to enhance the aesthetic value and protection capability of carry cases, thereby, increasing their adoption.

The usage of backpacks and sleeves for marketing and promotional purposes is expected to increase the scope for commercial applications at educational institutions and workplaces. Furthermore, the recent trend of customization whereby customers can get their names printed on the cases or get personalized designs is expected to boost the demand for carry cases.

The market comprises a large number of players including local manufacturers and authorized retailers. The market competition is high and mainly price-based. The presence of counterfeit products is expected to restrain the market growth and affect the profitability of market participants.

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https://www.grandviewresearch.com/industry-analysis/carry-cases-market

Further key findings from the report suggest:

The introduction of various electronic devices such as tablets and laptops are anticipated to foster the growth of the global carry cases market.
Carry cases serve to protect devices and are widely adopted for their aesthetic value and functionality.
The commercial segment is the fastest-growing consumer type segment with a CAGR of 9.1% over the forecast period.
The sleeves segment is the fastest-growing product segment, registering a CAGR of 7.3% over the forecast period owing to increasing demand for slim and compact personal computers that are convenient to travel.
The key industry participants include Targus, Torg, Fabrique Ltd., Lenovo, Swissgear, Thule Group, AsusTeK Computer Inc., Case Logic, North Face, and Incase Design Corp., among others.

Patient Temperature Management Market Worth $5.0 Billion By 2026

The global patient temperature management market size is anticipated to reach a value of USD 5.0 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% during the forecast period. A rising number of surgeries is anticipated to accelerate the demand for temperature management devices. For instance, open heart surgeries require lowering down the body heat of patients through blood cooling, which helps reduce the risk of the post and perioperative surgical complications.

With the growing prevalence of cardiac arrest and other chronic cardiac diseases, there is a rising number of surgeries being undertaken. This growth is anticipated to drive the need for patient temperature management, to avoid the adverse effects on the brain. Patient warming systems are also used for cancer patients as adjuncts with chemotherapy and radiation therapy for more effective results. Moreover, in neonatal care, newborns are likely to experience temperature fluctuations and hence, they are kept in incubators to maintain their normal body temperature. The aforementioned factors are driving demand for temperature monitoring devices.

With the rising demand for conventional warming and cooling devices, there is a growing need for modern temperature management systems. The introduction of a wide range of surface warming and cooling systems by major companies is expected to positively impact the market growth during the forecast period. The blood and fluid temperature management devices have also evolved over the years and are applied through a catheter by circulating warm or cool saline in the patients’ body.

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https://www.grandviewresearch.com/industry-analysis/patient-temperature-management-market

Further Key Findings From the Study Suggest:

Patient warming systems led the market in 2018 due to a rise in the number of surgeries, which lower the body temperature of patients due to the use of general anesthesia
Patient cooling systems are anticipated to exhibit a lucrative CAGR over the forecast period due to the introduction of new products like cooling caps and blood and fluid cooling systems
Surgery segment held the largest market share in 2018 due to the increasing number of cardiac and gynecological surgeries across the globe
Operating rooms segment is expected to generate huge revenue due to a large number of surgical procedures being performed and the need for temperature management during these surgeries
In 2018, North America led the patient temperature management market due to rising demand for technologically advanced products in this region
Asia Pacific is expected to showcase lucrative growth over the forecast period, due to increasing sedentary lifestyle resulting in cardiac-related disorders
Some of the major companies operating in the market include Stryker Corporation; ZOLL Medical Corporation; Cincinnati Sub-Zero Products, LLC; Medtronic, Inc.; 3M Company; Bard Medical, Inc.; and The 37Company

Biotechnology/Pharmaceutical Services Outsourcing Market Worth $92.9 Billion By 2025

The global biotechnology services outsourcing market is expected to reach USD 92.9 billion by 2025, according to a new report by Grand View Research, Inc. Pharmaceutical industry has been adaptive of the function of outsourcing certain clinical and corporate functions as early as 2002. Among the services outsourced, clinical trial management and contract manufacturing were the forerunners. For instance, Johnson & Johnson was the first pharmaceutical company to outsource its applications development and maintenance (ADM).

In 2015, over USD 50.0 billion was spent on pharmaceutical R&D activities majorly on oncology, diabetes, and autoimmune therapy classes, which is expected to propel the biotechnology services outsourcing market growth over the forecast period.

Shrinking profit margins coupled with rising competition in the market space, and augmenting regulatory burden are other vital impact rendering factors. The pharmaceutical services outsourcing market is expected to register growth at a CAGR of 8.7% during the forecast period. On the other hand, pending immigration legislations in the U.S. may hinder business economics and outsourcing risks.

Pharmaceutical and biotechnology industries in Europe are significantly investing in R&D in the recent year owing to rising demand for advanced medicines. This may be attributed to increasing aging population, incidence of chronic diseases, and communicable diseases.

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https://www.grandviewresearch.com/industry-analysis/biotechnology-pharmaceutical-services-outsourcing-market

Further key findings from the report suggest:

Consulting services are inclusive of regulatory compliance, remediation, and quality management systems consulting, which is expected to dominate the pharmaceutical services outsourcing market in 2025.
In 2013, the U.S. FDA revised the guidelines for registration trials of drugs used in the treatment of acute bacterial skin and skin structure infections, thereby promoting growth of regulatory affairs services.
Other services such as contract manufacturing, product upgrade, and IT consulting services are projected to grow swiftly. Increasing focus on generic medicine and regional expansions in developing regions are some of the key contributing factors
Presence of cheap labor, skilled personnel and rapid growth of the pharmaceutical industry within the Asia Pacific region presents numerous opportunities for service providers, thereby representing a lucrative growth rate over the forecast period.
Service based expertise may be found in players such QuintilesIMS, Parexel Corporation, Lachman Consultant Services, Inc., Concept Heidelberg GmbH, and others. These players compete on the basis of service quality, competitive pricing, and long-term relations with healthcare industry participants.

Contrast Media Market Size Worth $6.9 Billion By 2027

The global contrast media market size is expected to reach USD 6.9 billion by 2027, exhibiting a CAGR of 3.6% during the forecast period, according to a new report published by Grand View Research, Inc. Increasing burden of chronic diseases is driving the demand for diagnostic imaging procedures which are anticipated to fuel the contrast agents market growth.

The imaging tests such as Computed Tomography (CT), Magnetic Resonance Imaging (MRI), and x-rays have become an inevitable part of diagnosis for most of the diseases. The large-scale penetration of imaging technology in healthcare has increased the demand for contrast media. Newer contrast agents are constantly being discovered and investigated. Also, the safety of contrast agents for clinical use is under strict scrutiny.

The rapid rise in the use of medical imaging during the last few decades has resulted in a substantial increase in the use of radiologic contrast media. Half of the around 76.0 million computed tomographic and 34.0 million magnetic resonance imaging examinations performed annually include the use of intravenous contrast agents.

Diagnostic imaging modalities are being increasingly used owing to advancements in the underlying technology, ranging from equipment to administration technology. Innovative products such as syringeless injectors help achieve greater accuracy in delivering the right dose of contrast agents as well as reduce wastage. These injectors enable shorter examination time, leading to increased patient throughput. In 2016, the first syringeless injector was launched by Bracco Diagnostics in U.S.for multi-patient use to increase the number of scans performed in a day.

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https://www.grandviewresearch.com/industry-analysis/contrast-media-contrast-agents-market

Further Key Findings from the Study Suggest:

Iodinated contrast media was the largest segment in 2019 and is anticipated to remain dominant over the forecast period as the products have excellent radio-opacity and low toxicity
X-ray/ CT was the largest modality segment in 2019, in terms of revenue share, owing to wide acceptance and cost-efficiency of the techniques
Cardiovascular diseases is projected to witness the fastest growth over the forecast period due to label extensions for ultrasound and X-ray/ CT contrast agents in U.S. For instance, in 2016, the U.S. FDA approved Lumason for use in liver ultrasonography
North America dominated the contrast media/contrast agents market with the largest revenue share of 44.3% in 2019 owing to the presence of well-established healthcare infrastructure and availability of advanced technology
Some of the key players operating in the market are Bayer AG; General Electric Company; Guerbet; Lantheus Medical Imaging, Inc.; Bracco Diagnostic, Inc.; Trivitron Healthcare; nano Therapeutics Pvt. Ltd.; and iMAX

Drug And Gene Delivery Systems Market Worth $786.9 Billion By 2025

The global drug and gene delivery systems market is expected to reach USD 786.9 Billion by 2025, according to a new report by Grand View Research, Inc. Rising investment by the market players to develop innovative drug delivery systems to cater to the demand by the patients as well as to increase the bioavailability at minimum quantity of active pharmaceutical ingredient is driving the market growth. Additionally, increasing focus on R&D of gene delivery systems owing to the high growth potential of gene therapy for the treatment of a wide range of diseases is expected to fuel the market growth in the future.

Drug delivery systems are in a constant evolution along with the changing preference by the patient. For instance, initially, hormone replacement therapy was widely prescribed in the form of pills, whereas, it is now available in the form of prefilled syringes, patches, vaginal rings, gel, and sprays. The principal purpose of development of different forms of delivery systems is to increase the ease of use. Factors such as aesthetics of the delivery systems, price, and amount of API are also considered while designing the drug delivery system.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/drug-gene-delivery-devices-market

Further key findings from the study suggest:

The market study suggests that oral segment dominated the market in 2015
The convenience of use and low manufacturing cost are the prime factors responsible for the dominance of the oral delivery segment
Injectable segment is expected to show a lucrative growth rate owing to the introduction of technically advanced injecting devices that enable convenient self-injection
North America dominated the market in 2015 and is expected to remain dominant throughout the forecast period owing to highly developed healthcare infrastructure and high healthcare spending
Asia pacific is expected to exhibit the fastest growth rate during the forecast period owing to the factors such as rapidly developing economies, growing disposable income, and high adaption of the advanced delivery systems
A few of the major market players in drug delivery systems space are F. Hoffmann-La Roche Ltd, Pfizer, Inc., Johnson and Johnson private Ltd, Novartis AG, Becton, Dickinson and Company, and Bayer AG.
Major market players in the gene delivery systems space are SiBiono GeneTech Co., Unique N.V., Epeius Biotechnologies Corporation, Human Stem Cells Institute, and Shanghai Sunway Biotech Co., Ltd.

Wholesale & Distribution Automotive Aftermarket Worth $277.37 Billion By 2025

The global wholesale & distribution automotive aftermarket size is expected to reach USD 277.37 billion by 2025, according to a new report conducted by Grand View Research, Inc. Digitalization of automotive repair & component sales, complemented with advanced technology incorporations in the automobile aftermarket component manufacturing, is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars in the years to come is further expected to bolster the new component market growth. The market has been categorized based on replacement parts into tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components and other replacement parts

The increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in these countries. Similar surges in the automotive manufacturing sector across various regions, along with increasingly stringent norms regarding emissions, are expected to drive the growth of automotive aftermarket component sales over the forecast period.

The Asia Pacific regional market is expected to be the fastest-growing market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, the number of specialized repair centers dedicated toward repair of particular vehicles is expected to increase.

The wholesale & distribution automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repairing automobiles.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/wholesale-distribution-wd-automotive-aftermarket-industry

Further key findings from the report suggest:

The market is estimated to grow significantly over the forecast period, owing to an increase in the number of lightweight vehicles coupled with the increasing age of light vehicle fleet.
North America has witnessed a higher technology adoption rate, which, in turn, is anticipated to result in a faster and higher adoption of hybrid electric automobiles in the region as compared to other geographies.
The market is anticipated to witness a phase change attributable to the growing proportion of specialized automotive collision repair centers that are dedicated to serving specific vehicles, such as alternate fuel powered vehicles.
Key industry participants include Magneti Marelli S.p.A., Continental AG, 3M Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and Denso Corporation.

Over-the-Top Devices & Services Market Worth $165.13 Billion By 2025

The global over-the-top devices & services market size is expected to reach USD 165.13 billion by 2025, according to a new report by Grand View Research, Inc. The rising penetration of mobile devices, such as tablets and smartphones, and advancements in consumer electronics devices such as smart TVs, are estimated to drive the demand for OTT content and services amongst the masses over the forecast period.

Happy Caucasian family watching a TV at home.

There has been a rapid surge in the demand for OTT videos, particularly in developing economies. TV digitization initiatives by various regional governments and broadcasters across the world have enabled OTT content to emerge as the popular platform for video consumption.

Businesses across various sectors are increasingly seeking contemporary technological models to provide personalized experiences to their customers, such as TV access on smartphones, connected devices, and tablets. Content providers and broadcast service providers are leveraging the benefits of OTT technology to enhance customer engagement by gaining in-depth insights about their customer base.

Moreover, the rising demand for Video On Demand (VOD), Voice over Internet Protocol (VoIP), Subscription Video on Demand (SVOD), instant messaging services, and internet TV are expected to propel the industry growth over the forecast period. OTT service providers are increasingly focusing their efforts toward the development of various innovative features, such as Google Translate, which translates voice mail services into text, to provide convenience and enhance customer value.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/over-the-top-ott-devices-services-market

Further key findings from the report suggest:

Content providers such as DISH Network, Comcast, AT&T, and DIRECTV, are paving their way into the SVOD domain to expand their presence and capture a larger market share by providing various offerings within the domain
OTT service providers across the globe are focusing their efforts on the development of the three key streaming technologies that include High-Dynamic Range (HDR),1080p content, 4K streaming, and Virtual Reality (VR) video
Players such as WhatsApp, Tencent QQ, Apple FaceTime, Skype, and Google Hangouts, are upgrading their processes with new innovative technologies and offerings to provide advanced communication and messaging services
The proliferation of hybrid models combining Subscription VOD (SVOD) with Advertising VOD (AVOD) coupled with the increasing penetration of fiber broadband and 4G internet services are expected to propel the demand for OTT content across developing nations such as China
Growing proliferation of Smart TVs is expected to provide increasing opportunities for advertisers to become content providers and offer a wide plethora of services to consumers through various platforms such as Hulu, Netflix, and YouTube