Payment Security Market Worth $43.76 Billion By 2025

The global payment security market size is expected to reach USD 43.76 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 12.3% during the forecast period. Rising need for PCI DSS (payment card industry data security standard) compliance and adoption of digital payment mode by consumers are likely to stoke the growth of the market. The payments industry is going through a movement of infrastructure transformation, which is essential to compete efficiently with non-bank trendsetters and address progressing customer requirements.

Over the past few years, major economies have modernized their payment infrastructures and many others are scheduling to upgrade. Digital payments aid merchants in maintaining continuous compliance with PCI DSS, which is further anticipated to bolster the growth of the payment security market. In March 2015, Worldpay noted over 133,000 fraudulent transactions reported, which interpreted stolen card details being used every 20 seconds. Thus, payment security providers help its customer’s systems to protect itself from threats and aim to provide secure businesses by getting them to comply with PCI DSS. Therefore, the payment security market is estimated to be driven by the adoption of PCI DSS compliance.

Fraud detection and prevention solutions hold the largest share in the overall market. These solutions provide various fraud analytics solutions such as big data and predictive analytics. Big data and predictive analytics helps to detect and avoid frauds.

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

Further key findings from the report suggest:

The global payment security market had a valuation of USD 15.79 billion in 2017
Encryption platform emerged as the fastest growing segment over the forecast period
Large enterprises represented the leading segment in terms of organization in 2017 and are projected to generate revenue over USD 29.80 billion by 2025
The education market is poised to witness the highest CAGR of 13.4% over the forecast period
North America was the leading revenue contributor in 2017. Rising number of startups in the retail industry and presence of prominent payment security providers in the region is expected to drive the North America payment security market
Key players include Braintree, CyberSource, Ingenico, and Index among others. These players commanded the leading revenue share in the market in 2017.

TIC Market Size Worth $404.7 Billion By 2025

The global testing, inspection, and certification market size is expected to reach USD 404.7 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 5.2% from 2019 to 2025. Testing, inspection, and certification (TIC) services are being adopted rapidly due to the strict implementation of testing, inspection, and certification regulations. The market incumbents cater to various range of industries and sectors across the globe with a variety of legislation and standards.

Owing to the increasing presence of international players in growing economies, such as India and China, governments are taking the help of these industry participants for regulating the quality of various products and services through third-party inspection services. Furthermore, with the gradual development of these economies, issues concerning food safety standards and environmental protection are anticipated to emerge over the forecast period. Consumer concerns related to health and safety issues arising from the use of consumer electronics, as well as the quality of consumer goods, has necessitated governments to regulate the quality of the products manufactured domestically.

Also, an upsurge in the volume of traded goods has a direct impact on the number of certifications and inspecting services. With globalization, supply chains are increasingly becoming more complex. Increasing end-user quality expectations and outsourcing have led to a rise in the demand for independent TIC services. Organizations are aiming to ensure that processes, infrastructures, and products meet the required regulations and standards in terms of social responsibility, environmental protection, health and safety, and quality, thus reducing the risk of accidents and failure. This includes services such as the inspection and testing of bulk carriers that might be carrying different types of commodities, such as livestock, grains, or petroleum.

The Asia Pacific regional TIC market is expected to witness steady growth over the forecast period, owing to the growing economic and regulatory factors. The governments of several countries in the region are promoting various development plans in multiple application areas such as manufacturing, infrastructure, automotive, agriculture, and food. Also, the role of TIC is expected to change with the emergence of digital technologies such as connected devices, connected vehicles, mobile payments, and artificial intelligence. With the penetration of such technologies in this region, the inspection and testing of software and software-based service would gain importance similar to that of hardware testing and inspection.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/testing-inspection-certification-market

Further key findings from the report suggest:

The rise in manufacturing, construction, and infrastructure sectors provides a higher number of growth opportunities for the testing, inspection, and certification (TIC) market
The increase in the outsourcing of testing, inspection, and certification services by major industries operating in the automotive, manufacturing, and consumer goods, is projected to boost the market growth
The government of different countries in APAC are promoting various development plans. For instance, the 13th Five Year Plan of China stated the development of green transportation solutions for the advancement of the transportation sector in China
Key market players are considering partnerships and acquisition of startups providing innovative products to expand their outreach in the market
The key competitors in the TIC market are ALS Limited; Applus+; Bureau Veritas SA; UL LLC; DNV GL; Eurofins Scientific; Element Materials Technology; Intertek Group plc; SGS SA; TÜV NORD GROUP; MISTRAS Group, Inc.; TÜV Rheinland; TÜV SÜD; and DEKRA SE.

Customer Relationship Management Market Worth $114.4 Billion By 2027

The global customer relationship management market is estimated to reach USD 114.4 billion by 2027, registering a CAGR of 14.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for novel ways to analyze information, capabilities to aggregate data, and transforming it into better consumer experience is driving the need of customer relationship management (CRM) solutions across industries. Moreover, the merging of CRM, big data, and AI-powered analytics are likely to bridge the gap between customer expectations and company strategies for a better consumer experience.

Customer relationship management solutions have managed to exhibit an impressive adoption and growth rate in the last of couple of years despite over 20 years of market presence. This growth trend is attributed to numerous benefits of CRM suites, including operational efficiency, reduced cost of marketing, and the ability to complete sales cycle ‘on the go.’ Companies are now demanding access to customer data in real-time owing to the rapid proliferation of cloud and mobile solutions. Moreover, owing to increasing penetration of internet and smart mobile devices across the world, service providers are offering Bring Your Own Device (BYOD) solutions, which are expected to boost the customer relationship management solutions in the sales and marketing domain.

Digital optimization to maximize current processes with the help of data and predictive/prescriptive-enabled technologies to develop next best action recommendations using machine learning are becoming two primary drivers of investment and innovation in CRM solutions. For instance, in 2016, Salesforce launched myEinstein services to enable developers and system administrators develop custom AI application. Moreover, the rise in social CRM and mobility has also been driving the growth of a new genre of customer services and relationship management. Many service providers today are offering integrated solutions with various social media platforms such as Facebook, Twitter, and LinkedIn.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/customer-relationship-management-crm-market

Further key findings from the report suggest:

Considering the COVID19 pandemic crisis across the globe, the value of leveraging technology such as CRM is likely to grow and thrive in the years to come
The CRM analytics segment is anticipated to register the highest CAGR in the coming years owing to the application of artificial intelligence and machine learning along with growing integration of business intelligence and analytics in CRM software
Cloud was the most preferred way of deployment of the technology in 2019 and is predicted to maintain its dominance over the next eight years. Connected devices will play a vital role in the changing industry as the demand for mobile applications is increasing
The Small & Medium Enterprise (SME) segment is expected to be the fastest growing segment in coming years owing to increasing number of SMEs worldwide and their need to identify, prioritize, and minimize their business challenges
Discrete manufacturing is expected to be the fastest growing segment with the highest CAGR from 2020 to 2027 owing to better sales projection, efficient supply chain, and improved customer services
The Asia Pacific regional customer relationship management (CRM) market is expected to experience the highest growth over the forecast period, which can be attributed to the presence of emerging economies such as India and China, who possess large customer base across industry verticals
Customer relationship management market comprises of some prominent players such as Salesforce.com; Microsoft; Adobe; SAP; Oracle; SugarCRM; Zoho; Netsuite Inc.; Insightly Inc.; and Creatio. Large vendors are observed acquiring other players to consolidate their market share, and expand their existing portfolio.

Automotive Electronic Control Unit Market Worth $84.29 Billion By 2025

The global automotive electronic control unit market size is expected to reach USD 84.29 billion by 2025, growing at a 4.4% CAGR over the forecast period, according to a study conducted by Grand View Rese0arch, Inc. The increasing demand for hybrid and luxury vehicles, rising deployment of infotainment systems, and growing preference for ADAS and automated safety systems are fueling the demand for automotive electronic control units (ECUs). Additionally, a growing number of functionalities to control several electronic components in the vehicle such as, dashboard instruments, engine, telematics, and powertrain, has also resulted in significant growth in the average number of ECUs used per vehicle.

Moreover, the governments and regulatory bodies are mandating the installation of several safety systems in a vehicle, such as adaptive cruise control, adaptive front lighting, and anti-lock braking system, among others, to increase road safety. Recently, the AUTOSAR Alliance has been formed to standardize the approach of the designing and developing of layers between ECU hardware and application software. Additionally, in April 2016, the European New Car Assessment Programme (NCAP) was launched to reduce the risk of accidents by mandating the integration of lane-departure warning and anti-lock braking systems in vehicles during their production phase. This is anticipated to make the integration of hardware and software more scalable and flexible.

Furthermore, the automotive ECU market directly depends upon the automotive production across the globe. Thus, the increasing automotive production across emerging economies would fuel the demand for automotive ECUs over the forecast period. Several government initiatives to mandate the installation of advanced safety systems in vehicles, coupled with the growing preference of consumers for luxury and hybrid vehicles are the key factors boosting the research & development spending on automotive ECUs. For instance, In October 2017, NXP Semiconductors N.V. revealed NXP S32 platform, an all-new control and compute concept for electric, autonomous and connected cars.

The Asia Pacific region dominated the market in 2018, a trend that is expected to continue over the forecast period. This is attributed to the significant investments in the automotive industry in emerging countries, such as China, South Korea, Japan, and India. Additionally, the Chinese market is estimated to reach USD 36.65 billion by 2025, growing at a CAGR of 9.5% from 2019 to 2025. Continuous technological innovations to reduce the ECU count per vehicle is also expected to create substantial opportunities in the Asia Pacific region.

The North American market is projected to expand at a considerable CAGR over the forecast period owing to several regulations and declarations made by the governments in the region to positively influence the demand for electric vehicles. For instance, the Californian government has set up a target of reaching 1.5 million zero-emission vehicles, thus boosting the regional demand.

Some of the key players operating in the market are Altera (Intel Corporation), Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Hyundai Mobis, NXP Semiconductors N.V., Robert Bosch GmbH, Valeo Inc., and ZF Friedrichshafen AG, among others. The global automotive ECU market is consolidated with the presence of a few players holding a majority share of the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-ecu-market

Further key findings from the report suggest:

The ADAS & safety systems application segment is anticipated to dominate the automotive electronic control unit market owing to stringent government regulations and rising consumer awareness pertaining to safety features in vehicles. The segment is estimated to reach USD 27.6 billion by 2025.
The Internal Combustion Engine (ICE) vehicles segment is estimated to hold a majority share of the market owing to the increasing production of vehicles in emerging economies.
The 32-bit segment held the largest market share of 91.0% in 2018. This share is expected to decline over the forecast period due to the rising demand for 64-bit ECUs to integrate advanced electronic functions in the vehicle.
The passenger car segment held the largest market share of 86.9% in 2018. This share is estimated to increase over the forecast period owing to the growing consumer preference for luxury and hybrid vehicles with advanced electronic and safety systems.
The Asia Pacific regional market is estimated to account for 62.8% of the overall automotive ECU industry in 2018, owing to the increasing production of vehicles in emerging economies, such as China, India, South Korea, and so on.
Prominent market players include Autoliv, Inc., Delphi Technologies, Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG.

Augmented Reality Headsets Market Size Worth $78.47 Billion By 2025

The global augmented reality headsets market size is expected to reach USD 78.47 billion by 2025, registering a CAGR of 73.8% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The rising trend for immersive experience is driving the adoption of AR headsets among enterprises and consumers. Moreover, the convergence of IoT, wearable devices, and augmented reality technology is expected to induce market growth. Furthermore, growing popularity of operating, navigating, and maintaining inventories using headsets across industries is driving the demand.

The popularity of the AR headsets has witnessed steady rise with the introduction of smart glasses and wearable lenses; particularly from the entertainment industry. Steady rise in application areas, such as research and development, surgery, navigation, product advertisement, and promotions across industries is expected to bode well for the market growth. The demand for AR glasses or headsets also increased with the rise in need to detect or view 3D objects from the available AR contents or apps. For instance, the display of additional product information and its fittings around different environment condition can be experienced using the head-mounted headsets or AR glasses.

Rising applications of augmented reality headsets in industrial and manufacturing industries to improve the maintenance, repairing, and operational function is expected to drive the growth of the AR headsets market. These headsets enable the enterprises to monitor and check machine specifications in a real-time scenario. For instance, Google LLC, collaborated with Indiana Technology and Manufacturing Companies (ITAMCO) to provide an intuitive machine vision experience using the Google Glass and MTConnect. The real-time visual experience would help monitor internal machine functioning and calibrations. Furthermore, application of AR headsets in assembly and installation phases in the industry also professes a growth in the market.

The introduction of AR tool kits and AR software development kits further contributes to the development of the market. The addition of augmented reality tool kits has enabled the development of numerous AR apps and thus has increased the number of AR users. The tool kits have witnessed considerable advancement over the years with the AR compatible smartphones. For instance, Google’s ARCore software development kit works on more than 100 million android smartphones with advanced capabilities. In February 2018, the extension of ARCore with Google Lens contributed to the development of the market.

The increase in investments and funding raised by the emerging AR headsets enterprises for the development of AR smart glasses is also expected to drive the market. Despite the hefty prices of Head-mounted Display (HMD) and glasses offered by the manufacturers and shutdown of certain leading AR headset enterprises such as Daqri, the industry still regulates with the flow of significant investments. Large technology giants such as Google LLC, Tencent, Alibaba, and many more are extensively investing in emerging startups. For instance, in April 2019, Magic Leap, Inc. an AR goggles developer secured USD 280 million from NTT DoCoMo, a Japan cellphone service giant. Earlier Magic Leap, Inc. had already secured funding of more than USD 2.3 billion, from Google LLC, Alibaba Group, and J.P. Morgan.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/augmented-reality-ar-headsets-market

Further key findings from the report suggest:

Tethered headset product type is anticipated to expand at a CAGR of 74.4% over the forecast period
Smartphone enabled headset product type is anticipated to expand at a highest CAGR over the forecast period
Enterprise application segment accounted for more than 84.5% of the market share in 2018. The use of AR headsets for R&D, remote collaboration, and MRO services in manufacturing and construction industries is expected to keep the market buoyant over the forecast period
North America dominated the AR headsets market in 2018 and is anticipated to continue its dominance over the forecast period, owing to the increase in AR investments and presence of major manufacturers
Asia Pacific is expected to grow at a higher rate over the forecast period, owing to the increase in presence of AR suppliers and rise in investments, specifically in China, India and Japan
Key market participants include Google LLC, Magic Leap, Microsoft, VUZIX, Seiko Epson Corporation, Osterhout Design Group, Kopin Corporation and Sony. The players engage in prototype development, product innovation, and strategic collaborations to boost their market positioning