Smart Education And Learning Market Worth $680.1 Billion By 2027

The global smart education and learning market size is expected to reach USD 680.1 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 17.9% from 2020 to 2027. Demand for smart education and learning solutions is increasing among the growing population in corporate and academic sectors, owing to benefits such as improved education quality and easy access to educational content. Increasing adoption of consumer electronics, such as smartphones, e-readers, laptops, and e-learning applications, has altered conventional education methodology and has enhanced the efficiency of an individual to learn. Additionally, there are enormous opportunities for advancements in the market, owing to improved internet accessibility.

Also, the COVID – 19 outbreak has emerged an opportunity for the market with an increasing number of states and countries closing educational institutes. For instance, over 90.0% of the world’s students are not attending their schools due to this pandemic, as mentioned by UNESCO (The United Nations Educational, Scientific, and Cultural Organization). Commonwealth of Learning (COL), an intergovernmental organization of The Commonwealth (Canada), has supported educational institutions and governments in building robust distance education solutions for quality e-learning practices. However, lack of awareness among end-users about the latest technologies and inadequate amount of resources for delivering quality education in developing regions is anticipated to hinder market growth.

The simulation-based learning segment is anticipated to exhibit the highest CAGR because this mode enables corporate professional and educational institutions to create a realistic experience in a controlled environment. It also allows professionals and learners to practice, navigate, explore, and obtain more information through a virtual medium before they start working on real-life tasks. Growing awareness among people and the rising popularity of smart education are encouraging solution providers to invest in research and development for creating more reliable, better, and cost-effective solutions. Manufacturers are making substantial investments in developing new products for enhancing the user experience.

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Smart education and learning market report highlights:

Growing demand for smart educational practices can be accredited to factors, such as reducing expenses of online training, curbing geographic challenges in physically attending classes, and time constraints faced by aspirants
Increasing penetration of the Internet of Things (IoT), enhanced internet accessibility, and rapid adoption of mobile technology have encouraged users to adopt smart education and learning solutions
Innovative techniques, such as gamification, Massive Open Online Courses (MOOCs), microlearning, and adaptive learning, which improve the overall educational process, are expected to drive the market over the projected period
North America accounted for the largest market share in 2019 owing to its large consumer base for e-learning methods

Automotive Infotainment Systems Market Worth $37.62 Billion By 2025

The global automotive infotainment market size is expected to reach USD 37.62 billion by 2025, according to a new study by Grand View Research, Inc. The increasing adoption of smartphones is anticipated to have a significant impact on the automotive entertainment industry, as they are the most prominently used connectivity gateways of an infotainment system.

The demand for enhanced driving experience is also predicted to drive the automotive entertainment systems industry over the forecast period. The increased focus on driver comfort and convenience has led to the development of various automotive infotainment systems, which offer innovative features such as voice control, Bluetooth connectivity, real-time traffic updates, and navigation information. These features provide comprehensive vehicle information to the driver and thereby, enhance safety and driving experience. However, these systems involve high costs of integration and are primarily integrated in premium and luxury vehicles. Inadequate infotainment security and privacy are predicted to hinder the growth of the automotive infotainment systems market.

The use of infotainment systems in commercial vehicles is mainly driven by the widespread adoption of navigation units. The implementation of navigation and communication units in a commercial vehicle has increased operational efficiency and enabled a reduction in response time during emergency situations. As commercial vehicles have high travel time, compared to passenger cars, improving safety and driver experience is very essential.

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Further key findings from the study suggest:

The communication unit dominated the product segment and was valued at USD 3.9 billion in 2016
The head-up display segment is expected to be the fastest-growing segment with an anticipated CAGR of 13.5% over the forecast period
The key success factor for various participants to gain traction in the automotive infotainment systems market is building cost-effective and driver-centric automotive infotainment systems
Automotive infotainment aftermarket products are cost-effective, as compared to OE fitted, and are much preferred by price sensitive consumers
The passenger car segment is expected to grow at the highest CAGR of 11.4% over the forecast period, owing to the growing trend of low-cost passenger cars
The Asia Pacific region is predicted to witness a CAGR of 11.3% during the forecast period, owing to the presence of prominent OEMs such as Hyundai Motor Company and Toyota Motor Corporation
The key participants of the industry include Continental AG, Harman International, Panasonic Corporation, Alpine Electronics, Inc., Denso Corporation, Pioneer Corporation, Visteon Corporation, Clarion Co., Ltd., Delphi Automotive PLC, and JVC KENWOOD Corporation

Orthodontic Consumables Market To Reach $5.4 Billion By 2024

The orthodontic consumables market is expected to reach USD 5.4 billion by 2024, according to a new report by Grand View Research, Inc. The orthodontic consumables market constitutes an important part of the dental supplies industry and is expected to witness significant growth in the forecast period. As demand for maintaining a salubrious oral health and dental hygiene is becoming an increasingly important aspect globally, the demand for orthodontic procedures is gaining significant momentum. The market is witnessing notable growth owing to factors such as high prevalence of malocclusion, one of the most prevalent dental conditions worldwide; increasing use of dental services by the aging population; and growing demand for cosmetic dentistry procedures. However, factors such as low access to oral health care in developing countries and the lack of access to oral healthcare facilities in rural areas are anticipated to restrain the growth. Segmentation of the orthodontic consumable market has been provided at the end of this document.

The brackets segment is estimated to lead the market because of its widespread use in fixed orthodontics, which has gained popularity, and this has resulted in tremendous overall growth of this segment. Self-ligating bracket segment is also anticipated to grow at a healthy CAGR in the forecast period because of its increased treatment efficiency.

Another extremely important factor is “evolution.” As food habits are changing, the requirement for large bulky jaws is receding, which has led to smaller jaws in humans, and lack of space for 32 teeth in smaller jaw results in malocclusion. This is indirectly driving the orthodontic consumables market

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Further Key Findings From the Study Suggest:

North America is estimated to account for the highest share in 2015, followed by Europe. Growth in North America is recognized to be from factors such as an increase in U.S. population, mainly the geriatric segment, significant technological advances in dentistry, and the increasing insurance coverage by third-party providers.
Self-ligating bracket is expected to command the highest share as it does not require external ligature or elastic to hold the archwire in position. This is expected to fuel growth of the brackets segment, which is anticipated to grow at a healthy CAGR in the forecast period.
Asia Pacific is expected to witness the fastest growth pertaining to factors such as dense population in the region, an increasing trend of malocclusion, and the gradual advent of dental practice in the region.
Some major players leading the industry are 3M Unitek; DB Orthodontics; Align Technology, Inc.; G&H Orthodontics; Rocky Mountain Orthodontics; Henry Schein, Inc.; American Orthodontics, Danaher Corporation, and DENTSPLY International.
Invisalign aligners is an upcoming subsegment in orthodontics. As more and more people are becoming appearance conscious, the demand for these invisible customized aligners is on the rise

Liquid Biopsy Market Size Worth $5.96 Billion By 2030

The global liquid biopsy market size is expected to reach USD 5.96 billion by 2030, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 13.4% during the forecast period. Enhanced view of tumor provided by liquid biopsy technology is estimated to augment the market in coming years.

While tissue biopsies have been standard for cancer diagnosis for past several year, their highly invasive nature and frequently associated complications have been major concerns. Moreover, these biopsies lead to high expenditure being incurred by patients. Liquid biopsies, on the other hand, offer a less invasive methodology along with high effectiveness. Thus, there are a number of key private organizations involved in rigorous R&D activities for liquid biopsy test development and it is only a matter of time before these procedures grow in prominence in diagnostic paraphernalia of oncologists and pathologists.

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Further key findings from the report suggest:

Technological developments such as electric field induced release and measurement (EFIRM)- Liquid Biopsy (eLB), which provides detection that can assist clinical treatment decisions for most common subtype of cancers are expected to drive the uptake of saliva based sampling over the forecast period
Currently, clinical use of isolation and detection technology is limited to CTC quantitation but the number of CTCs is found to hold significant correlation with disease severity. This is, thus, estimated to augment the market over the coming years
Rising awareness regarding advantages of multiple gene analysis along with the help of NGS is anticipated to support the growth of the market
Organizations such as American Society of Clinical Oncology (ASCO) are engaged in supporting implementation of liquid biopsy, which in turn is likely to spur the growth of the market
Intensifying competition between biotech companies and increasing investments by government in healthcare institutes will lead to development of more sophisticated tests
Companies engaged in R&D and commercialization of these products include Pathway Genomics; Natera Inc.; Epic Sciences; Illumina; Foundation Medicine; Roche; LabCorp; and Sequenom

Medical Animation Market Size Worth $514 Million By 2024

The global medical animation market size is expected to reach a value of USD 514.0 million by 2024, according to a new report by Grand View Research. Key factors driving the market growth include the higher adoption of medical animation marketing by medical devices manufacturers and pharmaceutical products. It helps in explaining product features and communicating associated information with end users.

The information represented by animation is more appealing and easy to transmit. These aforementioned benefits are expected to boost the usage rate in near future. In addition, the paradigm shift, in healthcare information technology, such as digitalization, is anticipated to contribute towards the market growth in the next few years. The market has gained momentum after the introduction of cloud-based platforms and 3D printing technology in healthcare.

Furthermore, the introduction of technologically advanced software for image analysis, such as Medical Image Processing, Analysis, and Visualization can be attributed to the market growth. This application enables researcher from remote sites share valuable information and analyze the research data to detect, monitor, and treat medical disorders. Medical animation is a versatile tool for communicating complex scientific procedures in an interactive manner and used in a variety of business aspects such as marketing, web presentations, social media, tradeshows and advertising. Increasing adoption of this technology is expected to serve as a potential growth driver in the future.

The increasing investment by private and public sector, growing geriatric population coupled with increasing demand for computer-aided diagnostics, and incidence of chronic diseases are major factors fueling the increasing usage rates of this technology. In addition, this technology found application in various sectors, for instance; it helps healthcare professionals explain human body metabolism to patients, which helps in reducing patient’s anxiety level and educates them about various disease condition.

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Further Key Findings from the Study Suggest:

Flash animation is expected to be one of the most lucrative segment in near future due to increasing demand for patient engagement by healthcare professionals. On the other hand, 3D animation found application in clinical research studies, improving patient education, and simplifying complex procedures in bioscience studies by representing them into an animated form
Growing demand for technologically advanced medical animation solutions is expected to contribute towards the growth of 3D animation during the forecast period
In 2015, the drug mechanism of action segment accounted for the largest revenue share. The use of animation for explaining drug interactions and metabolic studies in new drug development are key contributing factors for this segment growth. This technology is used in animating preproduction, full production and post production process of drug molecules
However, the patient education segment is expected to emerge as the fastest growing segment as awareness levels amongst patients, introduction of user-friendly apps and concerns related to health information are increasing. For instance, introduction of 3D medical application such as complete anatomy in November 2015 by 3D4 medical used for anatomical studies
Currently, oncology segment dominates the market and is expected to be the fastest growing therapeutic area using this technology. Increasing incidence of cancer worldwide is a key contributing factor for growing demand of medical animation studies to explain disease mechanisms to patients
For instance, XVIVO, showcased animation software at the American Society of Clinical Oncology (ASCO) and also helped in the depiction of mechanism of action of Bavituximab, an investigative drug, believed to strengthen the immunity system in cancerous environment
Other end users of this market are life science companies, medical device manufactures, government authorities, forensic department, medico-legal firms, and insurance provider companies. This segment is expected to grow at fastest CAGR due to wide usage of 3D bioprinting and biosimulation studies in these fields
For example, in forensic studies, a medical animation is used to elaborate crime scene and medico-legal firms use 3D animation to explain pain management procedures, surgical techniques, and presenting anatomical studies. There are various surgical and clinical audiovisual animation studies available online
Asia Pacific is expected to be the fastest growing region during the forecast period. The growing geriatric population, increase in the chronic diseases, and ongoing development in healthcare sector is the factors anticipated to provide future growth platform for this industry in the next 7 years
In addition, rising outsourcing activities in this region due to availability and low cost of labor are anticipated to propel segment growth over the forecast period. For example, in India, the cost of medical animation services is 20% to 25% lower than the U.S. and Europe
The medical animation market is experiencing high competition as there are many small and big organization that offer these services. Introduction of low-cost software solutions for medical simulation is expected to boost the competition and is also expected to benefit several end users over the forecast period
Companies are involved in adopting sustainable strategies to gain competitive edges such as new product launch, product up gradation and collaborative agreements. For example, In April 2016, Fusion medical animation launched biotech brand services aimed at designing and developing innovative visuals for better understanding of complex products The aforementioned factors keeps the market rivalry at higher level

Transcatheter Heart Valve Market Size Worth $8.62 Billion By 2024

The global transcatheter heart valve market size is anticipated to reach a value of USD 8.62 billion by 2024, according to a new report by Grand View Research, Inc. The market is currently under-penetrated as these products are approved only for geriatric patients who cannot undergo normal valve surgeries. Growth drivers such as increasing prevalence of chronic cardiovascular diseases, increasing economic development, improvement in reimbursement scenario, and faster adoption of new technologies are expected to significantly improve the usage rates over the forecast period.

The transcatheter heart valve market is evolving rapidly due to the continuous investments in R&D by the key market players such as Edwards Life Sciences, Medtronic, St. Jude, and Boston Scientific. The technologically advanced products such as the SAPIEN 3 transcatheter heart valve and the TRINITY Valve are designed to reduce the surgical complications and improve patient compliance. For instance, the TRINITY TAVI system enables easy retrieval and repositioning of the device, without compromising on patient safety and treatment outcomes.

Furthermore, the market is expected to experience strong tailwinds on account of growing investor interest, lucrative product pipeline, faster regulatory approvals, and high competition to acquire potential start-ups. For example, some of the notable investments in the market include the USD 37 million funding of Venus MedTech by Goldman Sachs. In line with the market trends, the other market participants such as Boston Scientific, Edward Life Sciences, and Medtronic have also increased their investments to develop new products for management of mitral valve regurgitation and tricuspid valve replacements.

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Further key findings from the study suggest:

Aortic stenosis is the most prevalent valve disease, and if untreated it can lead to death. In 2015, transcatheter aortic valve segment accounted for the maximum revenue of over USD 1.6 billion and is expected to retain its dominant share over the forecast period.
However, the transcatheter mitral valve segment is expected to emerge as the fastest growing with a CAGR of 23% over the forecast period. Increasing number of elderly patients with mitral regurgitation and growing demand for technologically advanced transcatheter valve devices are expected to drive the usage of transcatheter mitral valves over the forecast period.
In 2015, the self-expanded transcatheter accounted for the largest market share of 65%. These catheters are most commonly used and, currently, most of the products that are available in the market are based on this technology. However, balloon expanded transcatheters are expected to have the fastest CAGR of 16.8% over the forecast period.
North America held the maximum share of nearly 49% in 2015. A combination of different factors such as the presence of large target population, high disposable income, strong reimbursement framework, contribute toward the high revenue generated in this region.
Asia Pacific is anticipated to register the fastest CAGR of 17.8% over the forecast period. Increasing disease burden, improvement in clinical trial regulations, growing preference for advanced medical technologies, increase in medical tourism, and special incentives for investments in healthcare sector are expected to strongly favor the growth in this region.
Some key transcatheter heart valve market players are Boston Scientific Corporation, Bracco Group, Braile Biomedica, Direct Flow Medical, Edwards Lifesciences, JenaValve, St. Jude Medical, Symetis. ValveXchange, Edwards Lifesciences, and Medtronic are the early movers in this market have captured significant market share in the North America, Europe, and the Asia Pacific region.

Advanced Analytics Market Worth $59.1 Billion By 2027

The global advanced analytics market size is expected to reach USD 59.1 billion by 2027, registering a CAGR of 25.3% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The extensive usage of advanced analytics in database management tools is expected to be a key factor influencing market growth. Furthermore, in agriculture, the farmers are exploring the use of advanced analytical solutions to gain more insights into when to plant, how to optimize crop yields, and when to harvest. Besides, the growth of the IT sector in emerging economies such as Argentina, Brazil, Egypt, and Philippines has led to the rising demand for workflow optimization, which is anticipated to further fuel the need for advanced analytical solutions.

Industries, including automotive, manufacturing, and pharmaceuticals, are heavily investing in the adoption of artificial intelligence for their process optimization. The use of big data analytics in process optimization enable manufacturers improve production process, increase supply chain efficiency, and identify variables affecting the production quality that bodes well for market growth. The growth of the market is driven by the increasing demand for predictive solutions and the availability of advanced analytical solutions over the cloud. For instance, Angoss Software Corporation; IBM Corporation; and SAS Institute, Inc.; offer their advanced analytics software over the cloud.

Technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) are data immersive technologies and require high bandwidth for operations, resulting into generation of large amounts of data. Owing to the generation of huge unstructured data, advanced analytics is used to categorize, process, and display it into meaningful insights. Therefore, the rising usage of AR in industries and sectors, including healthcare, agriculture, and entertainment, is anticipated to drive the growth of the advanced analytics market. The extensive use of advanced analytical solutions in the protection and processing of the enormous amounts of data stored using cloud services such as Microsoft OneDrive and Google Drive is further anticipated to boost market growth. Data warehousing organizations harvest information from datasets that help users make better decisions, thereby exploiting the ability of advanced analytics in handling complex relational databases. These factors are anticipated to provide lucrative opportunities to the players operating in the market.

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Further key findings from the report suggest:

The risk analytics segment is projected to witness a high CAGR over the forecast period on account of surge in data security breaches in sectors such as BFSI and IT and telecom
As most of the business data such as customer data, procurement data, and transactions is stored on the cloud, companies are leveraging the benefits of cloud-based analytics, which bodes well for the growth of the cloud segment
Among the Small and Medium Enterprises (SMEs), the popularity of Software-as-a-Service (SaaS)-based advanced analytical solutions owing to lower cost has grown significantly. This is anticipated to boost the growth of the SMEs segment over the forecast period
The increasing amount of data generated owing to the deployment of mobile communication technologies such as 3G and Long-Term Evolution (LTE) is driving the demand for advanced analytical solutions to evaluate and predict cell congestion. This bodes well for the growth of the IT and telecom segment
Asia Pacific is expected to exhibit the highest CAGR over the forecast period. The rapid development of the telecom industry in the region, where telecom operators extensively use analytical solutions for network resource optimization is a key driving factor
Key players operating in the market include IBM Corporation; Fair Isaac Corporation; Altair Engineering, Inc.; SAS Institute Inc.; Microsoft Corporation; KNIME; RapidMiner, Inc.; Oracle Corporation; SAP SE; and Trianz.

Cash Management System Market Size Worth $25.37 Billion By 2027

The global cash management system market size is expected to reach USD 25.37 billion by 2027, registering a CAGR of 12.6% from 2020 to 2027, according to a new report published by Grand View Research, Inc. The growth can be attributed to the increasing adoption of cash management systems by organizations to accurately predict their flow of money. These systems help businesses prevent and mitigate any fraudulent activity using fraud prevention strategies, which is expected to further fuel the demand.

The substantial traction in digital transformation has impacted the way organizations interact with their network banks and manage cash. The digital cash management systems allow businesses to gain high visibility into their financial health. The growing focus on managing business profits has accelerated market growth.

The advanced money management systems offer businesses with a connected experience. These systems help businesses automate and streamline the financial functions of an organization and offer extensibility and real-time integration of business operations. Moreover, they allow organizations to optimize their working capital, which is instrumental in driving market growth over the forecast period.

The money management systems are easy to use and have intuitive user interfaces, which allows the programming of risk management and process integration points. These systems, coupled with the intuitive user interfaces, permit multi-channel access to users. These systems are widely adopted, owing to various benefits such as transparency, lower operational risk, and effective predictability.

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Further key findings from the report suggest:

The solution segment is expected to continue its dominance over the forecast period owing to the wide usage of the component in businesses for managing liquidity, mitigating risks, and ensuring payment security
The cash flow forecasting segment is expected to register the highest CAGR over the forecast period. These type of operations automate the collection of money flow data from all sources and provide real-time visibility and forecasts through a suite of dashboards, reports, and analytical tools
Cloud is expected to witness significant growth over the forecast period. This deployment type offers various benefits, such as a virtually infallible computer support network and independent data-mining, and reporting capability
The large enterprises segment is expected to continue its dominance over the forecast period. These enterprises are widely adopting cash management systems to improve their liquidity management
As cash volume continues to grow across the globe, cash management systems are expected to gain significant traction in the banking sector
Increased spending on the establishment of SMEs in Asia Pacific is expected to fuel the cash management system market growth over the forecast period
Key market players include Intacct Corporation, NTT Data Corporation, Sopra Banking Software SA, Giesecke & Devrient GmbH, and Oracle Corporation

Hydroponics Market Size Worth $5.68 Billion By 2025

The global hydroponics market size is estimated to reach USD 5.68 billion by 2025, exhibiting a CAGR of 22.52% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The adoption of smart farming technologies, such as vertical farming, which has helped the evolution of hydroponics, is expected to spur the market growth. Continuous improvements in hydroponics technologies and the introduction of innovative, state-of-the-art technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, is likely to fuel the demand.

Food production method in hydroponic plant system. Growing lettuce in greenhouse using mineral salt solution.

Based on type, the hydroponics market is segregated into aggregate systems and liquid systems. The aggregate systems segment is projected to continue holding the largest market share over the forecast period. The liquid systems segment is expected to expand at a high CAGR over the forecast period. Aggregate hydroponics farming encompassed multiple technologies, namely, drip, wick, and ebb and flow. Herein, the plants are grown with the presence of a medium such as rock wool, perlite, and others. It is essential for the farmers to choose the right kind of media for certain crops, as they vary in terms of pH and thickness, which may hinder the smooth growth of roots. However, the liquid systems eliminate the use of such media and provide the nutrients directly to the roots, reducing the time required for yield. Hence, the adoption of liquid systems, such as deep-water culture and Nutrient Film Technique (NFT) is expected to witness significant growth over the forecast period.

The primary crops cultivated through the hydroponics method are tomatoes, lettuce, cucumber, and herbs. The majority of indoor farmers use hydroponic systems to grow tomatoes. As a result, the tomatoes segment dominates the entire market in 2018 and is estimated to continue its dominance over the forecast period. Europe held the largest share of the hydroponically grown tomatoes market in 2018 owing to the high cultivation rate in the Netherlands and Italy. Rising demand for organically grown, pesticide-free, and highly nutritious vegetables is expected to drive the adoption of hydroponics for the cultivation of lettuce and other leafy vegetables along with other indoor farming techniques. Among all the leafy vegetables, green leaf lettuce is increasingly gaining popularity among the growers owing to its high consumption rate and worldwide demand. However, owing to the changing and favorable regulations pertaining to the growth of legalized marijuana, the cannabis farmers across the globe are increasingly adopting the hydroponic farming method.

The Asia Pacific held the largest market share in 2018, as countries such as China, South Korea, and Japan are finding lucrative opportunities in hydroponics farming to cater to the rising food demand. However, Europe is expected to register the fastest CAGR over the forecast period owing to the favorable government scenario regarding the development and adoption of alternative farming technologies.

AeroFarms (U.S.); AMHYDRO (U.S.); Argus Control Systems Limited (Canada); Emirates Hydroponics Farms (UAE); Freight Farms (U.S.); Green Sense Farms Holdings, Inc. (U.S.); Heliospectra AB (Sweden); LumiGrow (U.S.); Signify Holding (the Netherlands); and Terra Tech Corp (U.S.) are some of the eminent providers and vendors of hydroponic equipment and solutions. These companies, along with other local or global market players, continually emphasize geographic expansion and product development. They have realized the lucrative opportunities in the urban regions of developed countries, such as the U.S., China, the U.K., and Japan.

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Further key findings from the report suggest:

Middle East, South America, and the Asia Pacific are anticipated to witness a lukewarm rise in terms of adoption of hydroponics, on account of lack of government incentives to set up the infrastructure
Increasing demand for cannabis for medical and recreational uses is expected to boost the adoption among indoor farmers from Canada, Georgia, South Africa, and other such countries
NFT in the liquid hydroponic systems is one of the highly adopted methods used by indoor farmers. However, state-of-the-art NFT technique is gaining more popularity amongst the growers
The Asia Pacific held the largest market share in 2018 owing to the substantial demand from countries, such as South Korea, China, India, and Hong Kong
European regional segment is likely to emerge as the prominent segment, holding the largest market share by 2025. The countries such as the Netherlands, Turkey, and Spain witness a high adoption rate of hydroponics
Mexico is projected to portray lucrative opportunities in near future, owing to the presence of market players, such as Hydroponic Systems, Cultura H, and General Hydroponics. Also, the drylands spread over 100 million hectares in the country restrict the agricultural expansion, driving the adoption of hydroponics and other vertical farming technologies

Influencer Marketing Platform Market Size Worth $23.52 Billion By 2025

The global influencer marketing platform market size is anticipated to reach USD 23.52 billion by 2025, exhibiting a CAGR of 26.8% over the forecast period, according to a new report published by Grand View Research, Inc. Technological proliferation in marketing practices is expected to offer significant growth opportunities to the market. Advanced technologies such as Artificial Intelligence (AI), Artificial Neural Networks (ANN), Natural Language Processing (NLP), and Machine Learning (ML) provides better search results and analytics, which is expected to guide marketers in taking better decisions.

Increasing adoption of AI-enabled influencer marketing platforms is expected to create an automated environment for marketers to establish efficient collaborations. ANN and NLP can be leveraged to offer essential insights to influencers by analyzing several image attributes, posts, and thus helping brands in simplifying workflow process. Furthermore, adoption of these technologies assists marketers in choosing which influencer to collaborate with, thus contributing to the market growth. For instance, CurationEngine offered by IZEA uses ML to process high volumes of information for programmatic analysis on influencer networks within the company database to improve network quality and identify influencers who meet brand safety requirements.

Cord-cutting is another important factor driving the influencer marketing platform market. The declining TV viewership and increased screen time provide an opportunity for marketers to focus more on social media marketing. Further, as more users have joined different social media platforms in the last few years, marketers are investing heavily to cater to the online masses by facilitating the next wave of brand deals.

The sports and fitness segment is expected to provide growth opportunities to the influencers over the next few years. The growth can be attributed to the need for better loyalty and increasing merchandise and ticket sales. Additionally, the rising trend of adopting a healthy lifestyle amongst sports enthusiasts and players is expected to provide an impetus to the growth of the market for influencer marketing platform. Furthermore, product innovations and access to affordable equipment have made sports more attainable to consumers. The integration of fashion and beauty into sports and fitness is promoting companies to venture out new lines of businesses, such as athleisure production, which is expected to further stimulate the growth.

The emergence of hybrid influencer is expected to promote market growth. Hybrid influencer enables brands to put social media ad spend on influencer posts either via social media or a branded content tool to get deeper insights and better interactions. For instance, Scrunch, a media and advertising firm, assists marketing teams to scale businesses using a hybrid influencer marketing platform.

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https://www.grandviewresearch.com/industry-analysis/influencer-marketing-platform-market

Further key findings from the report suggest:

Influencer management is expected to be the fastest-growing segment over the forecast period owing to greater demand of brands to maintain efficient influencer relationships for longer and healthier collaboration
Small and Medium Enterprises (SMEs) are expected to benefit from the adoption of influencer marketing platform owing to cost-effectiveness and higher engagement rates
The sports and fitness segment is expected to witness significant growth over the forecast period, attributed to the rising consumer awareness regarding the benefits of maintaining a healthy and active lifestyle
Asia Pacific is expected to dominate the market by 2025, owing to increasing mobile penetration, which makes it easier to reach out to a larger number of people via social media
The key players dominating the influencer marketing platform market are AspireIQ Inc.; Grapevine Logic Inc.; Upfluence, Hypetap Pty Ltd.; and Speakr Inc.