Virtual Events Market Worth $404.45 Billion By 2027

The global virtual events market size is estimated to reach USD 404.45 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 23.2% from 2020 to 2027. Increasing number of business events, along with growing adoption of virtual infrastructure, tools, and services by enterprises for business meetings worldwide, is expected to fuel the growth of the market over the forecast period.

The new generation of Artificial Intelligence (AI)-enabled communication and collaboration solutions brings people together and allows more focused interactions between event participants irrespective of their location. Besides, the integration of AI with business communication platforms, such as Unified Communications (UC), improves employee productivity, saves time, and improves overall business flow. The innovation in Natural Language Processing (NLP) and computer vision to support the virtual environment is expected to impact the market growth positively. For instance, NLP facilitates the automated recordings of meetings, sharing documents, and even the translation of the conversations into different languages. Moreover, computer vision captures meeting participants and then mechanically alters the zoom feature to provide a better video experience for individuals on the far end.

The healthcare industry is increasingly adopting the virtual platform for remote patient monitoring. For instance, in March 2020, Cisco Systems Inc. declared that 17,000 healthcare organizations across 118 countries deployed the Cisco Webex platform for providing telehealth services. The COVID-19 pandemic and imposed lockdown have resulted in wider adoption of digitally simulated events solutions by end-use industries.

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https://www.grandviewresearch.com/industry-analysis/virtual-events-market

Further key findings from the report suggest:

Platform providers and event management firms are continuously investing in technological research & development for bringing innovations in the market to cater to the growing requirements of the corporates and organizations
The sales and marketing and training service segments are likely to witness significant growth over the forecast period owing to the rapidly changing competitive landscape and growing need for business process training and promoting and launching product and solutions portfolio
Asia Pacific is expected to witness a significant surge in the adoption of virtual events, primarily due to growing number of Small and Medium-sized Enterprises (SMEs) in the region.

Security Analytics Market Size Worth $21.52 Billion By 2027

The global security analytics market size is expected to reach USD 21.52 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. Increasing demand to accelerate the investigation process for detecting advanced threats in the network layers is a key factor contributing to the market growth. Detecting advanced level threats helps enterprises to reduce the impact of cyberattacks and provides the ability to the security and risk professionals to respond to the threats at a faster rate.

Furthermore, increasing instances of advanced level cyberattacks across public and private enterprises are anticipated to boost the market growth. The advanced level threats are multi-vector and multi-staged in nature that silently attack and damage all the layers. Thus, it becomes essential for the enterprises to adopt analytics-based security solutions to detect all the multiple events of threats occurred at multiple stages.

Furthermore, demand for advanced detection and threat hunting capabilities among security and risk professionals is growing at a significant rate. The advanced detection capabilities include technologies such as machine learning (ML), predictive analytics, and data science concepts that identify anomaly behavior of threats. The technologies analyze and filter a vast amount of data collected from multiple security devices, network layers, audit files, sensors, platforms, and other traditional security log files in real time. After analyzing, the solution alerts to the security professionals or security forensics team about any potential malicious activity, and thus it helps them in threat hunting. Additionally, as cybersecurity vendors release updated analytics-driven security solutions with improved threat intelligence and detection techniques, the adoption of security analytics increases for threat incident mining.

The security and risk professionals find difficulties in managing compliance requirements with the changing technological landscape and rising security risks in organizations. Complying with government regulatory requirements and industry regulations, such as HIPAA, PCI-DSS, and GDPR, has become a standard measure for achieving data security among organizations. Failing to comply with such stringent standards can expose organizations to hefty penalties and cyber threats. As a result, enterprises are investing in analytics-based security tools or platforms to complement their existing cybersecurity measures and help them in meeting compliance requirements easily.

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https://www.grandviewresearch.com/industry-analysis/security-analytics-market

Further key findings from the study suggest:

On the basis of offerings, the solutions segment accounted for the largest market share in 2019 owing to increase in demand to manage stringent government and industry compliance requirements, coupled with identification and detection of advanced cyber threats and hidden malware in networks infrastructures
By application, the network security analytics segment is expected to witness significant growth in future owing to increasing demand to analyze end users and application traffic passed across a network layer
Based on organization size, the large enterprise segment held the largest revenue share in 2019 owing to rise in big data across all the network layers, increasing usage of cloud-based deployments, and BYOD trends, along with complying industry standards
By industry vertical, the healthcare sector is expected to emerge as the fastest growing segment with a CAGR of 16.7% over the forecast period
North America held the largest market share in 2019 and is anticipated to dominate the market over the forecast period.

Artificial Intelligence In Healthcare Market Worth $31.3 Billion By 2025

The global artificial intelligence in healthcare market size is expected to reach USD 31.3 billion by 2025, growing at a CAGR 41.5% over a forecast period, according to a new report by Grand View Research, Inc. The rising demand to reduce healthcare costs, increasing adoption of precision medicine, growing importance of big data in healthcare, and declining hardware costs are some factors propelling adoption of AI technology in healthcare industry. Moreover, rise in potential applications of AI-based tools in medical care and growth in venture capital investments are anticipated to aid growth over the forecast period.

Rise in the number of cross-industry collaborations is anticipated to fuel growth. For instance, in March 2018,Microsoft announced partnership with Apollo Hospitals, one of the prominent healthcare systems in India. The partnership was focused on developing and deploying new machine learning models for predicting the risk of developing cardiac diseases and aid doctors in treatment planning. Increase in venture capital funding is a key factor propelling growth of AI start-ups, which is further contributing to market growth.

The adoption of AI in healthcare is increasing, as healthcare providers are focused on enhancing patient care further. The adoption of this technology in healthcare has various benefits, both patients and healthcare providers. AI enables personalized care, based on body constitution and past medical history. Moreover, the shortage of physicians in some countries is anticipated to increase demand for AI in healthcare.

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https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-healthcare-market

Further key findings from the study suggest:

In 2018, software solutions held the largest revenue share owing to the development of AI-based software solutions for the healthcare sector
Clinical trials held the largest revenue share in 2018, and this can be attributed to the growing focus of pharmaceutical companies on incorporating AI in automation of clinical trial processes.
North America held the largest revenue share, owing to high adoption of healthcare IT solutions in the region and availability of well-established healthcare infrastructure
Asia Pacific is expected to exhibit the fastest CAGR over the forecast period, owing to growing AI-based start-ups, improving healthcare IT infrastructure, and increasing adoption of advanced technologies.
Some key players are IBM Corporation; NVIDIA Corporation, Nuance Communications, Inc.; Microsoft; Intel Corporation; and DeepMind Technologies Limited

Insurtech Market Size Worth $16.8 Billion By 2025

The global insurtech market size is expected to reach USD 16.8 billion by 2025, registering a CAGR of 43.0% from 2019 to 2025, according to a new report by Grand View Research, Inc. Increasing use of artificial intelligence (AI) along with Big Data by insurance companies to enhance customer targeting and to automate the decision-making processes is expected to drive the market over the forecast period. Additionally, integration of wearable devices into customer engagement metrics for insurance is further anticipated to keep the market growth prospects upbeat.

Insurance companies are heavily investing in digitizing their business processes, which will help them to simplify the transaction process and to improve the functionality of payment systems. The adoption of insurtech allow insurance companies to detect errors, prevent frauds, and access external data. Furthermore, technologies such as embedded analytics help insurance companies to understand market pattern, consumer behavior, and allow them to make informed business-related decisions. These benefits of digital technologies are creating a significant demand for the technology.

Rising demand for implementation of automation, improved communication between agents and clients, and better personalized offerings are expected to drive the market over the forecast period. The adoption of insurtech in various businesses has allowed insurance companies to minimize the risks associated with liquidity, operation, and counterparty credit. Additionally, increasing adoption of predictive analytics to identify risk of fraud, triaging claims, and to identify outlier claims is anticipated to propel market growth.

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https://www.grandviewresearch.com/industry-analysis/insurtech-market

Further key findings from the report suggest:

The home segment is anticipated to exhibit the highest CAGR of 44.3% from 2019 to 2025. Home insurtech allow customers to easily process their claims for property monitoring or assistance in repairs
The managed services segment dominated the market in 2018 owing to the growing dependence of insurance companies on IT assets to improve their productivity
The blockchain segment is expected to witness the highest CAGR of 44.9% over the forecast period. The adoption of blockchain in insurtech helps in increasing transparency, operational speed, and minimizing the associated delays and costs
The healthcare segment is expected to emerge as the fastest-growing end-use segment over the next six years. Insurtech in healthcare provide customers with custom insurance along with easy claim process
The North America region is expected to continue to dominate the market over the forecast period. Increased adoption of advanced technologies such as machine learning, artificial intelligence, and blockchain by insurance companies in the region is contributing remarkably to the growth of the market
The key players in the insurtech market include DXC Technology Company; Damco Group; Majesco; Oscar Insurance; Wipro Limited; Trōv, Inc.; Quantemplate; Shift Technology; and Zhongan Insurance.

Public Safety And Security Market Size Worth $812.6 Billion By 2025

The global public safety and security market size is expected to reach USD 812.6 billion by 2025, expanding at a CAGR of 14.8% from 2019 to 2025, according to a new report by Grand View Research, Inc. The rapid modernization of public safety regulations and policies across the globe is anticipated to drive the market growth over the forecast period. These solutions have provided users with effective measures to ensure the safety of organizations, individuals, and critical infrastructure against multiple threats such as illegal immigration, terrorist attacks, and illegal drugs and arms trafficking. Furthermore, the rapidly increasing number of natural and man-made disasters is also expected to play a pivotal role in driving the demand for these solutions worldwide.

Over the past few years, an increasing collaboration among countries has been witnessed regarding the measures taken for public safety. Countries are hence focusing on establishing regional cooperation in the area of cross-border disaster management to address key issues by deploying emergency management systems, critical communication network infrastructure, and geospatial data collection and analysis tools, among others. Furthermore, developed as well as emerging economies around the world have realized the importance of public safety and security solutions in emergency and crisis management. Governments are now developing regulations and standards to improve surveillance and enhance public safety. Surveillance systems are particularly effective for transit agencies to monitor their systems remotely, while critical communication network enables secure communication between various units, which is crucial for crisis management.

Due to rapid digital transformation of global financial and banking systems, there has been a constant focus on deployment of digital security measures to deal with the increasing number of cyber-attacks. The increasing awareness regarding security systems, replacement of obsolete systems and technologies, and rise in hazardous industrial operations are also some of the major factors expected to drive the demand for these systems. Hence, to comply with the growing demand, there has been a significant increase in financial allocation by countries for upgrading and modernizing the existing information technology infrastructure and the setting-up of dedicated departments to deal with the emerging cyber threats. However, the high system acquisition and deployment costs and lack of interoperability between legacy and emerging security systems is hindering the growth of the public safety and security market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/public-safety-security-market

Further key findings from the study suggest:

Managed services is anticipated to emerge as the fastest-growing service segment over the forecast period owing to the increasing deployment of public safety and security solutions as part of smart city initiatives
The emergency & disaster management segment is expected to gain traction over the forecast period owing to the increasing need for these solutions for better management of natural calamities and emergency situations worldwide
The logistics & transportation systems segment is expected to register the highest CAGR over the forecast period due to the increasing focus of governments on the development of road and rail infrastructure projects
The Asia Pacific regional market is expected to grow at the highest CAGR from 2019 to 2025 owing to the increased spending on these solutions to improve public safety, particularly in emerging economies such as India and China
Key players operating in the market include Atos; ESRI; NEC Corporation; SAP SE; Cisco Systems, Inc.; Genetec; Harris Corporation; General Dynamics; Ericsson; and Huawei Technologies Co., Ltd.

Payment Gateway Market Worth $71.22 Billion By 2027

The global payment gateway market size is expected to reach USD 71.22 billion by 2027 registering a CAGR of 21.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing use of these billing methods across the globe. Growing usage of various digital channels for payments has also been driving the market growth.

Various companies are using these systems as they allow secure internet transactions, which helps prevent or avoid debit or credit card scams and other fraudulent activities. Such methods also help automate the complete billing process, with faster processing speed and error-free computations.

Various factors, such as the growing trend of digitalization and rising usage of numerous online billing modes like net banking and mobile wallets, are anticipated to propel the market growth over the forecast period. In addition, merging of major e-commerce sites with various payment gateway platforms, partnerships between banks and online retailers, and attractive cashback offers on online billing, are further expected to drive the payment gateway market growth.

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https://www.grandviewresearch.com/industry-analysis/payment-gateway-market

Further key findings from the study suggest:

The hosted segment is expected to account for the largest market share over the forecast period
Payment gateways can deliver a significant uplift to the profitability of a small & medium enterprises by delivering better customer experience and reducing transaction costs
Various factors, such as better shopping experience and increased usage of smartphones, are expected to create growth opportunities for the market in the retail & e-commerce end-use segment
North America is estimated to be the largest regional market due to high demand for faster billing solutions as a result of growing e-commerce sales and rapidly changing retail market
Key vendors in the market include Stripe; Braintree; Authorize.Net; PayPal Holdings, Inc.; and Amazon Payments, Inc.

Tenant Billing Software Market Size Worth $544.21 Million By 2027

The global tenant billing software market size is expected to reach USD 544.21 million by 2027, registering a CAGR of 8.4% over the forecast period, according to a new report by Grand View Research, Inc. Rapidly growing adoption of automatic tenant metering and smart grid technology is a primary factor propelling the growth of the market. The market growth can be ascribed to growing demand for real-time tenant utility consumption.

Several commercial properties still use manual tenant metering and bill generation as part of their tenant sub metering workflow. However, the manual metering not only makes the process slow but often builds several errors and inconsistencies for owners and occupants. Whereas, automated metering tracks revenue recovery in real-time and drills down to individual occupants. Moreover, it offers improved experience by showing occupant’s real-time transparency into their utility costs.

Rapidly increasing number of retail stores, hotels, business buildings, airports, and industrial sites is also offering promising growth prospects for the market. North America accounted for the largest market share in 2019 on account of rising demand for advanced tenant billing software in the region. Furthermore, enterprises of all sizes are creating a huge demand for cloud-based billing software in North America, thus boosting the market growth in this region.

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https://www.grandviewresearch.com/industry-analysis/tenant-billing-software-market

Further key findings from the study suggest:

The tenant billing software market is anticipated to witness substantial growth during the forecast period owing to rising adoption of machine learning and IoT in various residential and commercial areas
The cloud deployment segment accounted for the largest market share in 2019 owing to increasing adoption among small, medium, and large enterprises and benefits offered in terms of decreasing disputes with occupants
The on-premise deployment segment is expected to witness significant growth over the forecast period owing to the benefits offered including easy integration with the enterprise’s existing IT infrastructure and high level of data security
Based on application, the commercial segment is expected to witness the fastest growth over the forecast period owing to increasing number of shopping stores, hotels, and business buildings
North America dominated the market in 2019 owing to the extensive adoption of cloud-based tenant billing software by enterprises of all sizes, coupled with growing real estate industry in the region
Key players in the market include Delmon Solution; Commercial Water & Energy Co.; Honeywell International Inc.; Entronix Energy Management, Inc.; Enertiv; TEAM (Energy Auditing Agency Ltd.); Accuenergy Ltd; MACH Energy; SystemsLink 2000 Ltd; Semsys; and IOTomation Ecotech Pvt. Ltd. New product or software development remains a key strategy among the leading players in the market

Smart Ticketing Market Size Worth $33.7 Billion By 2026

The global smart ticketing market size is expected to reach USD 33.7 billion by 2026, registering a CAGR of 14.9% from 2019 to 2026, according to a new report by Grand View Research, Inc. Increase in demand for smart ticketing solutions in the travel and tourism industry owing to its ease of use and convenience, and growing reliance on online transactions are expected to drive the market over the forecast period. In addition, upsurge in intelligent transportation systems across the globe is further fueling the market growth.

Smart transit systems allow passengers affordable access to rapid transit systems, also known as metro or subway. These systems store a ticket electronically on a microchip, which is embedded onto a smart card. This allows passengers to load or credit it in advance for their travel, reducing the time spent in queues and speeding up the boarding process. Public transportation authorities across the globe are emphasizing on implementing these systems to reduce traffic in congested city areas and to deliver solutions that are environment-friendly. Numerous public transportation agencies are promoting the use of these solutions as they are easy to use, reliable, and more secure as compared to traditional magnetic stripe cards or tickets. These solutions are also highly durable and have a longer life span than their traditional paper counterparts.

Continuous innovations take place in this field with the view to improving customer experience. For instance, the South Western Rail in U.K. launched Tap2Go, which removes the need for customers to buy a ticket before their journey. Passengers touch their card at the gates and validators at the start and end of their journey. The system then calculates the best fare and the payment is deducted from their account the day after their travel. It is also linked to PayPal to make transactions easier.

These solutions offer high operational efficiency and increased security against fraud, which, in turn, is expected to contribute to the market growth over the forecast period. Moreover, these solutions require low maintenance compared to systems that use magnetic stripe technology. Furthermore, these smart solutions allow quick payment transactions and offer passengers with flexible travel options such as part-time season passes or carnets. This is subsequently expected to drive the demand for these solutions over the forecast period.

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

Further key findings from the study suggest:

The software component segment is expected to witness significant growth over the forecast period owing to increased demand for payment gateways and other connected systems such as cards through servers and smartphones
An e-ticket offers various advantages such as flexibility, security, and convenience for both transport agencies and travelers, which would encourage them to adopt these solutions
Smart card systems enable transport service providers to reduce cash flows and implement flexible tariffs. These systems provide the added benefit of convenience as the fare payment can easily be made at the customer’s point of entry into the transit system; for example, at the subway gate or before boarding a bus. As a result, smart card systems are widely adopted by transport service providers across the globe
The sports and entertainment segment is expected to register the highest growth rate over the forecast period. Increase in adoption of verified e-tickets procured from authentic apps on mobile devices helps lessen fraudulent activities and resale of tickets online or outside an event venue at inflated prices
The growth of the Europe market is attributed to the thriving tourism industry, continuous innovations of these systems and their adoption in urban areas, and simplified technology ecosystem in the region. In U.K. for instance, the National Rail has incorporated a range of technologies such as platform and ticket validators at their train stations that enable the use of these systems
smart ticketing market key players include CPI Card Group Inc.; Cubic Corporation; Confidex Ltd.; Gemalto NV; Giesecke & Devrient GmbH; Infineon Technologies AG; and NXP Semiconductors.

Smart Antenna Market Size Worth $8.95 Billion by 2025

The global smart antenna market size is expected to reach USD 8.95 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 8.2% during the forecast period. Soaring need for upgraded technologies and high-quality communication through wireless devices is triggering the adoption of smart antennas. Smart antenna is used in various applications such as Wi-Fi systems, WiMAX systems, cellular systems, and RADAR systems. Benefits such as error-free communication, customized data paths, easy flow of data, and prevention of co-channel interference are anticipated to propel market.

High manufacturing and maintenance costs are hampering the growth prospects of the market. Strong wireless connectivity in region such as North America has facilitated the widespread adoption of smart antennas. Some of the prominent smart antenna vendors are Airgain Inc.; Broadcom Limited; Intel Corporation; Motorola Solutions, Inc.; Qualcomm Technologies, Inc.; Telstra; and Texas Instruments Inc.

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

Further key findings from the study suggest:

The global smart antenna market is expected to expand at a CAGR of 8.2% over the forecast period.
The MIMO segment is estimated to dominate the market throughout the forecast period, representing more than 55.0% of the overall revenue by 2025. The growth of the segment can be attributed to increasing usage of wireless and smart devices
The cellular systems segment is anticipated to lead the market throughout the forecast period, exhibiting a CAGR of 5.6%
North America will continue to be the most prominent regional market owing to early adoption of the technology and presence of leading market players
Prominent players in the market include Airgain Inc.; Broadcom Limited; Intel Corporation; Motorola Solutions, Inc.; Qualcomm Technologies, Inc.; Telstra; and Texas Instruments Inc.

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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http://www.grandviewresearch.com/industry-analysis/automotive-infotainment-systems-market

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