Synthetic Aperture Radar Market Worth $4.98 Billion By 2027

The global synthetic aperture radar market size is anticipated to reach USD 4.98 billion by 2027, expanding at a CAGR of 10.7% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Synthetic aperture radar (SAR) uses a remote sensing technique that generates high-resolution images and can be used for earth observation and surveillance operations. The synthetic aperture of SAR operates at various frequencies and modes, which enable it to take pictures through cloud covers, inclement weathers, and during the day and night. Synthetic aperture radar is compact and light in weight compared to the conventional radars, which is expected to increase the adoption of these devices for space satellite missions and thereby drive the market.

Over the years, SAR has been widely used for military operations, whereas it has also gained prominence in the commercial sector recently. The advanced synthetic aperture technology makes it possible to detect and capture natural disasters, infrastructure damages, archeological artifacts, snow mapping, biomass and vegetation, and oil spillages in oceans, among others. The growing need for tracking and detecting movement, mapping troops, and gathering intelligence data is expected to increase the adoption of these systems in the military operations. Furthermore, synthetic aperture radars can be integrated with unmanned aerial vehicles (UAV’s) and rising usage of UAV for tactical and surveillance purposes is expected to bolster the demand for SAR systems in the market.

The data retrieved from synthetic aperture radar involves using several pre-processing steps and requires a separate software from the service provider to process the data. It may include steps like de-bursting, radiometric calibration, terrain correction, applying the orbit file, and speckle filtering depending on the type of analysis. This tedious process to work with the SAR data is expected to limit market growth. However, the processed images and retrieved data provide a detailed and clear picture of the mapped objects, which is anticipated to drive the market over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/synthetic-aperture-radar-market

Further key findings from the report suggest:

  • The growing need for public safety, natural resource exploration, and environmental monitoring has propelled investment from government and independent organizations in the synthetic aperture radar systems industry, thus driving the commercial application segment
  • Asia Pacific is anticipated to expand at the highest CAGR of 14.1% over the forecast period owing to an increase in spending on military missions. The Asia Pacific region is expected to launch satellites in the future, thereby resulting in market growth. For example, the National Aeronautics and Space Administration (NASA) and The Indian Space Research Organization (ISRO) have projected the launch of a dual-frequency synthetic aperture radar NISAR in 2022
  • Key market players operating in the market are focused on forming partnerships with government and other organizations to accommodate important projects and gain competitive advantage. For instance, in June 2019, ICEYE and Asia Pacific Satellite, Inc. entered a strategic alliance to extend ICEYE’s SAR data purchase in South Korea.

Livestock Farm Equipment Market Size Worth $19.3 Billion By 2027

The global livestock farm equipment market size is expected to reach USD 19.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.4% over the forecast period. Aggressive investments being made by farm owners to automate dairy and poultry farms are expected to drive the market over the forecast period. Increasing spending on agricultural equipment across the globe also bodes well for market growth. Market players are expected to introduce innovative livestock farm equipment based on the latest technologies, such as IoT and artificial intelligence, thereby contributing to market growth.

Domesticated animal farming is gaining traction in line with the growing population and the changing food habits of individuals. The growing consumption of meat among individuals is particularly driving domesticated animal farming and hence the demand for the tools. At the same time, the increasing consumption of milk, which is encouraging cattle farming, and the rising consumption of eggs, which is encouraging poultry farming, also bodes well for the growth of the market over the forecast period. The demand for tools used in domesticated animal farming is growing as the owners are increasingly opting for such tools to increase the yield and augment revenues and to protect their domesticated animals from diseases by maintaining cleanliness and better hygiene.

The equipment can potentially reduce the costs associated with feeding, cleaning, and monitoring the animals. The owners opt for different equipment depending upon the type of domesticated animals they are farming. For instance, electric cages are used for poultry animals, such as hens, and ducks. Electric cages can ensure proper shelter for poultry animals while reducing the space occupied. The growing preference for electric cages for poultry farming is expected to drive the growth of the market over the forecast period. The owners are also opting for dedicated tools for feeding and monitoring their domesticated animals.

However, the high costs associated with the tools are anticipated to challenge market growth as the owners would deliberate before investing in such equipment. The costs associated with regular maintenance are also expected to restrain the market growth. The outbreak of the COVID-19 pandemic is equally expected to impede market growth in the short term as lockdowns in various parts of the world have disrupted the supply chains and have hampered the equipment production. Nevertheless, the demand for the tools is poised for stable growth in the long term as more and more farm owners opt for automation to overcome the looming workforce shortage.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/livestock-farm-equipment-market

Further key findings from the study suggest:

  • The feed equipment segment is projected to witness significant growth over the forecast period as farm owners look for efficient means to feed the domesticated animals
  • The housing equipment is expected to account for a substantial share of the market over the forecast period as housing or shelters continue being farm owners’ essential requirement to accommodate domesticated animals
  • The poultry farm segment is expected to register the highest CAGR and control a considerable share of the market over the forecast period in line with the rising consumption of eggs and poultry meat across the globe
  • Asia Pacific held the largest market share of more than 30.0% in 2019 and is expected to continue dominating the market over the forecast period as the region is home to significant market players
  • Market incumbents are continuously improvising their product portfolio and catering to all the requirements associated with domesticated animal farming. The market is highly fragmented due to the presence of regional players.

Metal 3D Printing Market Worth $14.56 Billion By 2027

The global metal 3D printing market is estimated to reach USD 14.56 billion by 2027, according to the new report by Grand View Research, Inc. The market is expected to register a CAGR of 19.2% from 2020 to 2027. Metal 3D printing is also referred to as Additive Manufacturing (AM) as it involves the successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes are built upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of metal and the unnecessary metal is ground out to obtain the desired object.

The metal 3D printing industry is estimated to exhibit significant growth throughout the forecast period owing to a combination of numerous factors such as growing demand for rapid prototyping, which allows the manufacturers to design and develop better products and systems. Additionally, the ease of manufacturing and added benefits offered by the 3D printing technology are the major factors behind the greater adoption of the technology across various industry verticals.

Metal 3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The automotive vertical happens to be the most significant adopter of the metal 3D printing technology and eventually leading to the largest market share of metal 3D printers for industrial applications over the forecast period. Additive manufacturing is anticipated to evolve over the forecast period.

The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India, machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3D printing materials, filaments, 3D modeling, and 3D printer software.

The metal 3D printing technology happens to be capital-intensive technology. At the same time, manufacturers are holding to their misconceptions about prototyping rather than realizing the advantages associated with metal 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for metal 3D printing. These are some of the factors that are expected to restrain market growth. However, government initiatives aimed at increasing awareness and promoting the benefits of adopting metal 3D printers are expected to help in countering the market restraints.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/metal-3d-printing-market

Further key findings from the report suggest:

  • North America accounted for the largest market share in 2019 owing to the early adoption of the technology s
  • The U.S. being the highest revenue generating country in 2019 in the North America regional market, the region is predicted to exhibit steady growth over the forecast period
  • Increasing adoption of metal 3D printers in the healthcare, automotive, and consumer electronics verticals is likely to drive the market growth significantly
  • The Asia Pacific regional market, which is emerging as a manufacturing hub for several industry verticals, is forecast to grow significantly in future as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt metal 3D printing, particularly in countries, including China, Japan, and South Korea.

Medical Writing Market Worth $7.7 Billion By 2027

The global medical writing market size is expected to reach USD 7.7 billion by 2027, expanding at a CAGR of 10.9% during the forecast period, based on a new report by Grand View Research, Inc. Market growth can be attributed to increasing R&D investments by pharmaceutical companies, rise in contract research organization (CRO) outsourcing, partnerships & collaborations between market players, surge in the number of clinical trials, and updates in medical device regulations.

The European MEDDEV 2.7/1 Rev.4 guidance on Clinical Evaluation Reports (CER) was published in 2016. As per a recent article published in 2018, regulations, such as European Medical Devices Regulation (MDR 2017/745) and In-Vitro Diagnostics Regulation (IVDR 2017/746) followed in May 2017, and key changes relevant to writers in the field of medicine include increased need for relevant data from clinical studies and requirement of experienced authors. Such stringent regulations are expected to positively impact the medical writing market growth.

Drug development is a billion dollar industry with complex processes of obtaining product approvals. A well-documented, well-communicated, and well-developed research is needed to gain product approval, which increases the demand for experienced writers in the field of medicine. In addition, social media has become a crucial part of marketing and communication strategies of many organizations, including healthcare providers. Social networking is now being used in order to engage with patients as part of digital marketing, thereby creating high demand for writing services in the field of medicine.

Strategic alliances between large pharma companies and CROs have become an ongoing trend. Around 20 major partnerships have been finalized in the last five years. For instance, in October 2016, Quintiles and IMS Health underwent the biggest merger in the CRO industry and reestablished the weightage of both the companies. The merger helped Quintiles to use IMS’ internal database in order to design targeted and complex clinical trials.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/medical-writing-market

Further key findings from the study suggest:

  • By type, the clinical writing segment dominated the market 2019 due to increase in clinical trials. The regulatory writing segment is expected to witness the fastest growth over the forecast period owing to requirement of submission of regulatory documents to the authorities
  • On the basis of application, medical journalism dominated the market in 2019 and is expected to maintain its lead over the forecast period. Medico marketing is projected to witness the fastest growth over the forecast period
  • Medical writing has become essential in the field of education as specialized knowledge and skill is required to write well-structured and lucid scientific documents, thus driving the medical education application segment
  • Based on the end use, the CROs & others accounted for the largest market share in 2019 and is expected to exhibit the fastest CAGR over the forecast period
  • In 2019, North America dominated the global medical writing market due to increasing number of drug trials and approval of new drugs
  • Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to availability of cheap labor, abundance of resources, and presence of English writers
  • Some of the key players operating in the market are IQVIA; Parexel International Corp.; Trilogy Writing & Consulting GmBH; Covance, Inc.; OMICS International; and Freyr e, Inc.; OMICS International; and Freyr

Cannabis Extract Market Worth $28.5 Billion By 2027

The global cannabis extract market size is expected to be valued at USD 28.5 billion by 2027, according to a new report published by Grand View Research, Inc. It is projected to expand at a CAGR of 16.6% over the forecast period. Growing legalization of cannabis in various countries, preference for cannabis oil and tinctures, and adoption of medical marijuana for treating chronic diseases like arthritis, anxiety, and Alzheimer’s are the major factors propelling the growth.

Cannabis extracts have gained wide recognition in recent years and are expected to provide impetus to cannabis market growth. Based on product type, cannabis extracts are classified into oils and tinctures. The oils segment is expected to dominate the market in 2019 with a revenue of USD 4.8 billion and is anticipated to witness the fastest CAGR of 17.5%, over the forecast period.

Based on extract type, the market is segmented into full spectrum cannabis extracts and cannabis isolates. The full spectrum cannabis extracts dominated the market in 2019, with a revenue of USD 4.3 billion, owing to the added advantage of the entourage effect. Various manufacturers prefer full spectrum cannabis products owing to their advantages over the isolates. Thus, the segment is expected to remain dominant over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cannabis-extract-market

Further key findings from the report suggest:

  • In 2019, oils held the largest revenue share of 66.5% owing to ease of availability and low price of the product
  • The full spectrum segment was valued at USD 4.3 billion in 2019, owing to its entourage effect-a synergistic relationship between cannabinoids and terpenes that exhibits an increase in the healing properties of each cannabinoid
  • Marijuana isolates is anticipated to emerge as the second largest type segment over the forecast period, owing to several advantages that have increased its adoption. For instance, the purest form of isolates, such as CBD oil, have no psychoactive effects as they have no THC content
  • In 2019, North America accounted for the largest share in the global cannabis concentrates market. This can be attributed to high utilization owing to government approvals
  • Key players operating in the cannabis extract market include Canopy Growth Corporation; Aphria Inc.; Aurora Cannabis; Maricann Inc.; Tilray; Organigram Holdings Inc.; Tikun Olam, Ltd.; and The Cronos Group

Europe Hyaluronic Acid Based Dermal Fillers Market Worth $1.4 Billion By 2026

The Europe hyaluronic acid based dermal fillers market size is expected to reach USD 1.4 billion by 2026, according to a new report by Grand View Research Inc., exhibiting a CAGR of 7.6% over the forecast period. Rapidly aging population, large number of cosmetic surgeries performed, and technological advancements are among key factors driving the market. Growing demand to enhance one’s aesthetic appeal is resulting in high number of cosmetic surgeries being performed. This can also be attributed to the availability of noninvasive surgical alternatives and rising awareness among consumers. According to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2017, hyaluronic acid-based dermal filler procedures were among the three most preferred noninvasive aesthetic surgeries.

Minimal adverse effects, lesser pain, shorter recovery time, and fewer postsurgical complications are some of the factors driving preference for minimally invasive surgeries. The European market is dominated by well-known brands such as Juvederm, Restylane, and Belotero. In addition, France has several native brands with different patented technologies, thereby contributing to regional market growth. Stylage, Cytosial, Hyaluronica, and Surface Volume are some of the local brands available in the market.

Increasing demand for aesthetic procedures majorly in Italy and Spain is creating a great opportunity for market expansion. According to the ISAPS, about 952,830 aesthetic surgeries were performed in 2016, of which 650,995 were noninvasive procedures such as Botox and dermal fillers.

Various strategic initiatives such as product launch, approvals, and mergers and acquisitions propel the market. For instance, in January 2017, Allergan plc launched Juvederm VOLITE, a new hyaluronic acid dermal filler with its unique patented VYCROSS technology, which lasts for up to nine months. In another instance, in September 2018, Allergan acquired Bonti, Inc. to expand its product portfolio with Bonti’s pipeline products such as (BoNT/E) botulinum neurotoxin serotype E in phase II, EB-001T (therapeutic), and EB-001A (aesthetic).

Click the link below:
https://www.grandviewresearch.com/industry-analysis/europe-hyaluronic-acid-based-dermal-fillers-market

Further key findings from the study suggest:

  • Increase in per capita income in countries such as Germany, Italy, France, and Spain is a key factor driving the adoption of dermal fillers. Rapid advancements in dermal filler technology have resulted in better results in lesser time and at lower costs
  • In 2018, single-phase products dominated the market owing to technological advancements, wide range of applications, and rise in applications of implantable devices
  • By application, the wrinkle removal segment is anticipated to grow at the fastest rate during the forecast period. Hyaluronic acid dermal fillers are gaining popularity in varied antiaging treatments as they help save time. A general hyaluronic acid anti-wrinkle treatment procedure takes less than an hour and the average cost is approximately USD 600
  • Italy dominated the regional market in 2018 owing to technological advancements in the region and introduction of new products by prominent manufacturers
  • Some of the key players in this industry are Allergan; Galderma Laboratories; Merz Pharma; Genzyme Corporation; Medicis Pharmaceutical; Inamed Corporation; Anika Therapeutics, Inc.; Laboratoires VIVACY; Bioxis Pharmaceuticals; and Bohus Biotech AB.

Ambulatory Surgery Center Market Size Worth $120.8 Billion By 2026

The global ambulatory surgery centers market size is expected to reach USD 120.8 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a 6.1% CAGR during the forecast period. Increase in incidence of chronic diseases and rise in geriatric population have furthered the demand for ambulatory surgery centers. Furthermore, advancements in surgeries, such as endoscopy and laparoscopy, are expected to propel ASC market growth.

The number of patient admissions is slowly decreasing owing to increasing outpatient visits. This is primarily due to high hospitalization cost and adoption of technologically advanced techniques in outpatient centers, making treatment fast and cost-effective. Advanced surgical methods allow tests and procedures to be performed without hospital admission. According to the American Hospital Association, the total number of outpatient admissions increased from 624 million in 2008 to 675 million in 2012. The number of inpatient admissions decreased from 35.76 million in 2008 to 34.40 million in 2012.

In May 2016, some new codes were added to the coverage for outpatient services in U.S., such as that for gynecology, adenoidectomy, and tonsillectomy. Hence, supportive reimbursement scenario is anticipated to boost market growth.

North America held the dominant share in 2018, driven primarily by U.S. Leading market players in the country are acquiring ambulatory services to provide technologically advanced surgeries and treatments, further propelling demand for ambulatory and primary care services. Asia Pacific is likely to emerge as a strong contender in the global scenario. Some of the prominent players in this region are Surgery Center of Melbourne, Nova Medical Centers, Kaiser Permanente, The Indian Association of Day Surgery, Memorial Sloan Kettering, M D Anderson Cancer Center, and The Mumbai Surgical Society.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/ambulatory-surgery-center-asc-market

Further key findings from the study suggest:

  • In 2018, gastroenterology accounted for the largest share in the market by application. This can be attributed to surge in visits to ambulatory care centers for treatment of gastrointestinal diseases. It is one of the most common surgical specialties in single- or multi-specialty ASCs
  • Plastic surgery is anticipated to observe the fastest growth in the coming years due to rise in disposable income and growing preference for private care facilities in comparison with hospital surgery centers for plastic surgery. Time and cost advantages, as well as expertise offered by these ambulatory centers, are anticipated to boost demand for plastic surgeries in these settings
  • North America dominated the market in 2018 thanks to increased government funding focused on transforming primary care services and rise in coverage for outpatient services
  • Asia Pacific is expected to witness lucrative growth in the coming years owing to presence of developing economies, increasing awareness about ASCs, and investments by international players
  • Key players in the market include Envision Healthcare Corporation; Terveystalo; Tenet Healthcare Corporation; MEDNAX Services, Inc.; TeamHealth, Quorum Health Corporation; UnitedHealth Group; Surgery Partners; Community Health Systems, Inc.; and Healthway Medical Group.

Smart Parking Systems Market Size Worth $14.3 Billion By 2027

The global smart parking systems market size is expected to reach USD 14.3 billion by 2027, registering a CAGR of 17.4% over the forecast period, according to a new report by Grand View Research, Inc. An anticipated upsurge in demand for these systems for transport transit and commercial applications is expected to drive the growth in the market. Rising demand for hassle-free parking coupled with the advances in technology are anticipated to propel market growth over the forecast period.

Favorable government initiatives and increasing public sector funding to roll out solutions aimed at addressing traffic congestion issues are anticipated to drive the market. Furthermore, the inclusion of sophisticated features, such as voice guidance and auto-payment options enabled through smartphone apps, are also projected to fuel the growth of the market. Various parking lots are integrating Automatic Number Plate Recognition (ANPR) systems to effectively manage vehicle at parking areas and access control systems.

Ensuring adequate parking space is turning out to be a challenge for civic administrations as the number of automobiles continues to increase. The demand for intelligent systems is rising across the globe as a result. These systems can effectively address traffic congestion issues and space-related concerns. They can also open potential opportunities for reusing commercial and municipal areas and garages, thereby reducing fuel consumption, curtailing vehicular emissions, and subsequently making the cities cleaner and greener.

However, a looming lack of funding initiatives as well as organizational awareness about the advantages associated with smart parking, particularly in underdeveloped regions, is anticipated to restrain the growth of the market over the forecast period. Moreover, the non-availability of supporting infrastructure in these regions is further hampering market growth. The high implementation cost of these systems is anticipated to act as a challenge for smart parking systems industry growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-parking-system-market

Further key findings from the report suggest:

  • The hardware segment is expected to continue its dominance over the forecast period due to the decisive role various hardware components play in detecting the presence of the vehicles in parking slots
  • The signage segment is expected to grow significantly over the forecast period, as signage can help in preventing confusions and the resultant mishaps by guiding drivers in appropriate directions.
  • The parking guidance system uses communication, traffic monitoring, and processing and variable message sign technologies to guide vehicle drivers to available spaces
  • The consulting services segment is expected to witness significant growth over the forecast period. Consulting services envisage providing an analysis of the volume of traffic that needs to be managed and recommending potential solutions according to the need
  • Off-street segment dominated the market as it offers easy and swift pay-and-park solutions, which can distribute tickets automatically, thereby reducing congestions at entrances.
  • The government segment is expected to witness phenomenal growth owing to the increasing need for managing on-road vehicles and minimizing fuel emissions
  • The European region is anticipated to continue its dominance over the forecast period. The continued interest of automobile manufacturers in the region in developing intelligent parking systems is anticipated to drive the growth of the regional market.
  • On-demand valet parking coupled with the increasing demand for parking management systems at public venues,including shopping malls and sports complexes, in countries, such as Japan and China, is expected to fuel the demand for these systems in the Asia Pacific region.
  • The key players in the market include Amano McGann, Inc.; SKIDATA AG.; Parkmobile LLC; ParkMe, Inc.; Robert Bosch GmbH; and Nedap N.V.

Commercial Vehicles Market Size Worth $2.27 Trillion By 2025

The global commercial vehicles market size is expected to reach USD 2.27 trillion by 2025, according to a study conducted by Grand View Research, Inc. The market is projected to expand at a CAGR of 7.1% during the forecast period. Increased urbanization, coupled with rising spending on infrastructure development in emerging economies such as China, India, and Turkey, are expected to drive the market over the forecast period. Several suppliers are shifting their focus on improving R&D capabilities while enhancing operational efficiency, which is also projected to play a pivotal role in boosting market growth.

In addition, increasing penetration of electric commercial vehicles is also anticipated to contribute toward market expansion over the coming years. Adoption of electric vehicles (EVs) is primarily driven by need to meet emission reduction standards and regulations enforced by government bodies worldwide. Commercial vehicle telematics is another trend that is gaining traction and is anticipated to have a positive impact on the market over the forecast period.

To meet changing market needs, original equipment manufacturers (OEMs) across the globe are focusing on integrating innovative technologies, such as keyless entry/ignition, engine diagnostics, mobile connectivity, and an array of novel applications that assist in vehicle control. All these efforts by OEMs are expected to significantly contribute to global market growth over the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/commercial-vehicle-market

Further key findings from the study suggest:

  • Expanding e-commerce industry and availability of easy finance options are anticipated to play a key role in boosting the commercial vehicles market growth
  • Increasing spending on infrastructural development and efforts taken by OEMs to provide value-added services focused on enhancing in-vehicle experience are projected to drive market demand
  • The global market is expected to register a volume-based CAGR of over 6.0% from 2018 to 2025, primarily as a result of sustained economic activity in emerging markets
  • The light commercial vehicles (LCVs) segment recorded consistent growth from 2014 to 2017 and this trend is expected to continue over the forecast period due to expansion into newer markets such as Africa and Southeast Asia
  • The logistics segment is anticipated to witness high demand for commercial vehicles, primarily due to rise in trade and e-commerce activities across the globe
  • Rapid urbanization and improving road infrastructure in Asia Pacific are projected to drive the region to register a revenue-based CAGR of more than 8.0% from 2018 to 2025
  • The market is marked by the presence of numerous participants such as Tata Motors, Volkswagen AG, Ashok Leyland, Volvo Car Corporation, and General Motors. These players implement various inorganic and organic growth strategies to maintain their presence and withstand intense competition.

Business Intelligence Software Market Worth $48.5 Billion By 2025

The global business intelligence software market size is expected to reach USD 48.5 billion by 2025 at a CAGR of 10.1%, according to a new report by Grand View Research, Inc. Proliferation of internet technology and growing demand for data-driven models across various organizations is expected to boost the market growth. Business intelligence (BI) forms a crucial component for success of any organization and leads them towards accessing information to enhance their work processes. BI is instrumental in identifying the opportunities and threats by enabling the organizations to adapt to the dynamics of operations, thus helping to survive in the corporate world.

Business intelligence concept man pressing selecting BI

BI tools are essential for smooth functioning of BI software, as such tools have a huge impact on possibilities and functionalities of BI applications. BI software is increasingly being used in various end-use industries to streamline operations, reduce costs, minimize risks, and strengthen the relationships between suppliers and customers. These factors are expected to drive the market over the forecast period.

Inception of novel technologies and rise in number of BI vendors in domains such as machine learning and analytics is expected to stimulate the market growth. In addition, data sets need organizations to invest in advanced technologies such as artificial intelligence, machine learning, and big data to strengthen the analysis of enormous data sets. The software can help employees in claiming the responsibility of their respective work areas by using the operating numbers and facts, and making data-driven decisions. Additionally, adoption of BI tools helps in improving visibility across the organization by helping employees in understanding the organization-wide decisions and gauging the impact of their respective decisions against the enterprise as a whole.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/business-intelligence-software-market

Further key findings from the report suggest:

  • The cloud BI segment dominated the market in 2018 and is expected to maintain its dominance over the forecast period. The segment covers the cost for hardware and software problems and offers feasible solutions without any major alteration
  • The executive management segment is expected to gain traction as BI software is widely used in large organizations to implement strategic decisions
  • BI software is majorly used in the banking sector due to technological advancements and customer oriented way of working
  • The small and medium enterprises segment is expected to exhibit the highest CAGR of 10.7% over the forecast period. Increasing number of small and medium enterprises globally and rising demand to modernize their operations is driving the small and medium enterprises segment
  • In the manufacturing sector, BI software is being widely adopted, since data-driven models have replaced the process-oriented models
  • The Asia Pacific regional market is expected to register highest growth over the forecast period. Rising volume of data and the growing need for competitive insights across end use industries is expected to drive the growth of BI market in the region
  • Key players in the market include Cloud9 Analytics; Google, Inc.; IBM Corporation; Informatica; Microsoft Corporation; Oracle Corporation; SAP SE; SAS Institute, Inc.; and Tableau Software.