MRI Market Size Worth $8.18 Billion By 2027

The global magnetic resonance imaging market size is expected to reach USD 8.18 billion by 2027, registering a revenue-based CAGR of 5.9% during the forecast period, according to Grand View Research, Inc. Rising prevalence of chronic diseases coupled with increasing demand for early diagnostic techniques is projected to drive the growth. In addition, growing adoption of less invasive diagnostic procedures is contributing to the magnetic resonance imaging (MRI) market growth. Moreover, increasing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is expected to boost the growth.

End-users, such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. Growing number of research studies will help unlock the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel the growth during the forecast period.

Key market players are adopting various strategies, such as mergers and acquisitions, collaborations, and partnerships to gain competitive edge. For instance, Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, the latter will distribute MRI portfolio of Aurora Imaging Technology in China. This in turn is helping both the companies in geographical expansion.

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Further key findings from the report suggest:

Open system is anticipated to be the fastest growing segment during the forecast period due to its efficiency to accommodate patients of all sizes without them feeling claustrophobic
Magnetic resonance imaging (MRI) market for neurological and brain disorders held the dominant market share in 2019, largely due to high prevalence of neurological conditions and demand for less invasive diagnostic procedure
The high field MRI segment is expected to experience fastest growth over the forecast period, largely due to efficiency of the field strength to provide detailed diagnostic images
Ambulatory Surgical Centers (ASC) are expected to exhibit the fastest CAGR during the forecast period. Government initiatives to improve primary care is one of the major factor impacting the growth
In 2019, North America dominated the global MRI market in terms of revenue, owing to continuous research activities and high adoption of advanced techniques
Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period, largely due to a rise in clinical studies for high field MRI machines

Africa Roaming Tariff Market Worth $2.5 Billion By 2027

The Africa roaming tariff market size is anticipated to reach USD 2.5 billion by 2027, growing at a CAGR of 5.5%, according to a study conducted by Grand View Research, Inc. Roaming tariff are the charges incurred by the operator in return of roaming services, that allow the customers to use communication devices outside the geographical coverage area provided by the network operator. Increasing count of mobile phone users in urban as well as rural regions across Africa is expected to drive the market. Moreover, increasing international tourism is projected to escalate market growth in the forecast period.

Rising number of smartphone and internet users is also expected to bolster market growth in the region. Moreover, the adoption of 3G, 4G, and 5G technologies in Africa is expected to increase in the coming years, which is also projected to fuel market growth. For instance, according to the GSM Association (GSMA), the count of unique mobile subscribers will increase by up to 623 million in 2025 from 456 million in 2018. Additionally, mobile internet users are expected to have a 39.0% penetration rate and can reach up to 483 million subscribers by the end of 2025.

According to the GSM Association, Africa is amongst the rapidly growing mobile market across the globe. GSMA also states that the count of international travelers is increasing in the region at a larger extent, which in turn escalates market growth. Rising technological awareness among users has enabled service providers to introduce technological advancements, thereby resulting in market growth. Moreover, growing population in the region has paved way for growth of subscriber base of mobile phone operators, which is one of the additional factors expected to fuel the growth of the market in the region.

Technical barriers such as interoperability, due to the use of different GSM/3G spectrum, can restrict many low-cost handsets from roaming, and the network coverage, mainly 3G continues to remain underdeveloped as operators continue to upgrade to new technology and roll out the older. Whereas, the introduction of roaming regulations such as, pricing regulations, taxation related policies are anticipated to hinder market growth. However, substantial investments from operators in order to provide consistent services to users are projected to propel market growth. Similarly, significant investments from communication service providers are also expected to reduce the intensity of the aforementioned restraints, thereby positively impacting the market in the region.

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https://www.grandviewresearch.com/industry-analysis/africa-roaming-tariff-market

Further key findings from the study suggest:

The national roaming segment is expected to continue its dominance over the forecast period owing to the demographic bulge. Growing count of young consumers in the region also escalates the growth of the segment, as the youth is more leaned towards usage of smartphones and internet in the region
International roaming segment is expected to witness a highest CAGR from 2020 to 2027. This is attributed to rising international tourism
Wholesale roaming is expected to account for revenue share of over USD 2.0 billion by 2027 owing to increasing adoption of service in the medium and large enterprises in the region
The voice service type of the Africa roaming tariff market is the major shareholder amid other services such as data, and SMS. The voice service market is expected to exceed USD 1,200 million by the end of 2027
The key players operating in the market are America Movil, AT&T Inc., Bharti Airtel Ltd., China Mobile Ltd, Deutsche Telekom AG, Digicel Group and others

Point Of Sale Software Market Size Worth $18.1 Billion By 2027

The global point of sale software market size is expected to reach USD 18.1 billion by 2027, registering a CAGR of 10.1% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth owing to increasing need for compatible software for point of sale system’s functioning. Point-of-Sale (POS) software facilitates functions such as inventory management, authorize cards payment, collect signatures and e-mail receipts, and manage employees and business operations to minimize human intervention and ensure smooth running of all processes.

POS software is used across different end-user industries for processing payments, bookkeeping, invoicing, tracking orders, and other functions. However, the functionality may significantly vary depending upon the end-user industry requirement. For instance, the restaurant POS software requires specific features such as order, inventory, table management, and employee scheduling to meet the needs of different restaurant types, which is not needed in retail or healthcare. Hence, increasing demand for customized POS software in restaurant, retail, hospitality, healthcare, entertainment business, and other industries is expected to boost the point of sale software market over the forecast period.

POS software for a fixed POS terminal has been used for decades and is trusted across all large business sectors due to its ability to provide robust business functions and management of inventory, loyalty programs and gift cards, credit/debit card payment, employee attendance, and cash drawer for large enterprises. While small and medium enterprises have largely opted for mobile POS software owing to its convenience in business to allow credit or debit card payments virtually as well as at any location on-the-go.

Point of sale system has become an integral part of the small and medium business environment to process sales securely, carry out the administrative task, and provide a seamless customer experience. Substantial growth of this segment is attributed to increasing adoption of cloud-based mobile POS solution by the small businesses having software packages such as payment processing, inventory management, payroll, and accounting to manage their day to day business operations.

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https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-software-market

Further key findings from the report suggest:

The on-premise segment dominated the market in 2019 in terms of revenue and is estimated to reach USD 11.4 billion by 2027. High demand for on-premise deployment is due to data security concerns, as the customer data can be vulnerable to cyber-attack when exposed to third party or unknown sources
The mobile POS segment is anticipated to witness the highest CAGR of 13.2% over the forecast period owing to increasing demand in restaurant and retail for quick payment and portability
The market in the Asia Pacific region is expected to register the highest CAGR over the forecast period owing to growing demand for advanced features across end-use industries including retail and restaurant in countries such as China and India
Some of the major players in the point of sale software market are NCR Corporation; Revel Systems; Oracle; Agilysys, Inc.; Clover Network, Inc.; Diebold Nixdorf, Incorporated; Epicor Software Corporation; Ingenico Group; Intuit, Inc.; Lightspeed; PAR Technology Corp.; SAP; Toshiba Tec Corporation; ShopKeep; and Toast, Inc.

Interactive Tables Market Size Worth $1.5 Billion By 2027

The global interactive tables market size is expected to reach USD 1.5 billion by 2027, registering a CAGR of 7.2% over the forecast period, according to a new study by Grand View Research, Inc. Implementation of multi-touch technology in the education sector is expected to drive the market over the forecast period. Growing demand for digital classrooms that allow numerous students to work together for cooperative learning is expected to boost market growth.

Interactive tables are also extensively used in trade shows and exhibitions that require the display to be clear as well as allow multi-touch. 32 to 65 inch tables are witnessing increased demand among the exhibitions as they provide better clarity and are highly portable.

Furthermore, growth of the market is attributed to emergence of various interactive display technologies, especially in North America. Besides, the hospitality sector is witnessing a paradigm shift in terms of the transportation sector, including train stations, airports, and public places. At such public places, visitors and travelers can get personalized information, such as booking & check-in, social media sharing, and special offers, at interactive info screens and kiosk terminals.

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https://www.grandviewresearch.com/industry-analysis/interactive-tables-market

Further key findings from the study suggest:

The market is anticipated to witness substantial growth in the coming years owing to rising significance of gamification in the education system and adoption of interactive tables in the hospitality sector
Based on technology, the capacitive segment accounted for the largest market share in 2019 owing to improved touch technology and distance sensing
By screen size, 32 to 65 inch tables captured a significant market share in 2019 and are witnessing high demand across various sectors as they are portable and easy to carry from one place to another
The interactive tables market in North America is expected to witness significant growth owing to the presence of a large number of restaurants using interactive technologies, coupled with strong presence of touch table solution providers in U.S.
Key players in the market include Box Light Corporation, DigaliX, eyefactive GmbH, Garamantis GmbH, and HORIZON DISPLAY, LLC.

Trade Surveillance Market Worth $2.9 Billion By 2027

The global trade surveillance market size is expected to reach USD 2.9 billion by 2027, registering a CAGR of 19.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing need for monitoring trade activities in financial institutions, consulting firms, and government regulatory offices is considered to be the primary factor for the market growth. The market growth is ascribed to rising pressure on financial markets to adhere to the regulations and compliances.

At the government level, regulatory agencies such as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) provide trade surveillance system to help maintain securities laws and protect investors against fraud. Furthermore, the benefits such as improved workflow management and internal control are also anticipated to increase the demand for trade surveillance in these regulatory agencies over the forecast period.

Furthermore, the market is also driven by increasing number of insurance businesses and rising demand for advanced banking solutions, especially in Asia Pacific, which currently accounts for the second-fastest growth. Furthermore, Asia Pacific has a substantial impact on the market misconduct and cross-border trading, which in turn is boosting the trade surveillance market growth in this region.

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https://www.grandviewresearch.com/industry-analysis/trade-surveillance-market

Further key findings from the study suggest:

The market is anticipated to witness substantial growth during the forecast period owing to rising adoption among various end users including government regulators, market operators, and IT services providers
The solutions segment accounted for the highest market share in 2019 owing to the associated benefits such as optimization of surveillance data, enhancement of compliance management, and streamlining of case management
The on-premises deployment segment accounted for the largest share due to various benefits such as easy integration with the existing IT infrastructure of the enterprise and high level of data security
Europe is anticipated to register a significant growth and dominate the market in the forecast period owing to extensive adoption of cloud-based trade surveillance systems by various enterprises and trading regulations imposed by the government
Key players in the trade surveillance market include NICE Systems; Crisil Limited; Aquis Technologies; Scila; OneMarketData, LLC; IPC System, Inc.; B-Next; ACA Compliance Group; Red Deer (Jersey) Ltd.; Nasdaq, Inc.; and SIA S.P.A.

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.

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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.

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.

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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.

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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.

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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.

Fire Safety Equipment Market Size Worth $105.92 Billion By 2025

The global fire safety equipment market size is expected to reach USD 105.92 billion by 2025 at a CAGR of 8.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Strict government regulations and mandates concerning workplace safety are expected to be the key factors driving the market. Increasing awareness about the benefits of installing fire safety and security equipment and demand for state-of-the-art fire protection equipment are also expected to fuel the market growth.

Transition towards the installation of technologically advanced fire detection systems, and eco-friendly fire suppression agents is also expected to support the market development over the forecast period. Advent of smart fire suppression and detection systems, proliferation of Internet of Things (IoT) for the wireless integration of such systems, enforcement of various safety and building codes, and increasing fire safety expenditure by enterprises are several other factors responsible for market growth.

Increasing accidents and loss of property owing to fire breakouts has alarmed the need for installation of smart systems, such as wireless sensor networks, across the industrial, commercial, and residential sectors. Therefore, regulatory bodies across various countries are framing new regulations focusing on mandating the installation of fire protection systems. For instance, in U.S., fire sprinkler systems are mandatory for hostel premises. North America led the market in 2018 and is expected to continue the dominance over the forecast period. Rapid growth of the construction industry in Canada and U.S. is driving the demand for fire safety equipment.

Increasing automation in buildings and preference for smart homes along with rising demand from the mining and manufacturing industries in the region is expected to bolster the demand further. Asia Pacific is expected to exhibit the highest CAGR over the forecast period. Growing need for mass transportation, such as airport security, including intelligent transportation systems, due to rapid industrialization and urbanization in emerging economies like India, China, and Japan, is anticipated to offer lucrative growth opportunities for the market.

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https://www.grandviewresearch.com/industry-analysis/fire-safety-equipment-market

Further key findings from the report suggest:

Fire detection segment is expected to lead the market owing to the advent of advanced technology, such as wireless detection and wireless networking, thus reducing the installation costs
Fire detectors is expected to lead the fire detection segment with a CAGR of 8.3% from 2019 to 2025 due to stringent government regulations across different countries
Smoke detectors will dominate the fire detectors segment on account of their increasing usage in commercial buildings since they are cost-effective and have a longer lifespan
Industrial sector led the fire suppression market in 2018. Oil & gas and mining industries are highly prone to fire accidents due to involvement of flammable materials; thus, account for the maximum demand for suppression systems
North America led the global market in 2018 and is expected to continue the dominance over the forecast period due to stringent fire safety regulations and rapid infrastructural developments
Prominent companies in the fire safety equipment market include Bosch GmbH; Eaton Corp., Inc.; United Technologies Corp.; Honeywell International, Inc.; and Johnson Controls International plc