Nanosatellite and Microsatellite Market Worth $4.95 Billion By 2025

The global nanosatellite and microsatellite market size is expected to reach USD 4.95 billion by 2025, expanding at a CAGR of 22.2% over the forecast period, according to a new report by Grand View Research, Inc. Upsurge in earth observation missions, along with development of Small Satellite Launch Vehicles (SSLV), is expected to propel market growth.

The emerging role of small satellites in the telecom sector has enabled telecom providers to accelerate 5G deployment globally, along with creating market opportunities for satellite communication (satcom) industry stakeholders. Deploying small satellites for 5G deployment can particularly benefit in the form of wide area coverage, cost-effectiveness, and reliability. At the same time, latest technologies, such as new solar panel cell technology and star tracker technology, are also allowing small satellites to strengthen their position in the broader satellite industry.

The growth of the communications sector, coupled with the continued adoption of Internet of Things (IoT), is expected to open opportunities in the global market. The continued adoption of IoT will particularly encourage start-ups to launch their small satellites. For instance, Hiber is expected to launch its first nanosatellite in 2019 to deliver internet connectivity to remote locations using Hiberband modem and support potential IoT projects globally.

Government support is a key factor encouraging companies to launch nanosatellites and microsatellites for communication and navigation, earth observation, and remote sensing applications. Several governments are developing means to utilize the information obtained from such satellites in a more efficient manner for the public sector. For instance, the UK Space Agency’s Space for Smarter Government Program (SSGP) allows departments to share expertise, data, and services related to nanosatellites and microsatellites as well as information obtained from these satellites.

However, despite substantial growth of the global market, frequent delays in satellite launches are leading to skepticism. Nevertheless, independent launch vehicles being developed and low-cost sensors being manufactured by key companies are likely to help overcome these growth barriers.

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Further key findings from the report suggest:

  • The nanosatellites segment is expected to grow at a significant rate over the forecast period. The progression toward low-cost satellite-based internet services is enabling a transition towards the adoption of these satellites
  • The earth observation/remote sensing segment is poised to grow at a steady rate over the forecast period as the development of low-mass and low-power navigation sensors in small satellites provides impetus to new remote sensing and earth observation missions
  • The civil segment is expected to grow at a CAGR of close to 25% over the forecast period as commercialization of small satellites introduces academic institutions and research organizations to space technology
  • Asia Pacific is expected to be the fastest-growing regional market over the forecast period, owing to increased nanosatellite launches by various academic institutions and increased government support for developing space programs
  • Key players in the market include GomSpace, Innovative Solutions in Space (ISIS), SpaceQuest Ltd., and Sierra Nevada Corporation.

Team Collaboration Software Market Size Worth $24.2 Billion By 2027

The global team collaboration software market size is anticipated to reach USD 24.2 billion by 2027, exhibiting a CAGR of 12.7% over the forecast period, according to a new report by Grand View Research, Inc. A rising trend amongst enterprises to indulge in distributed workforce strategies and embrace the gig economy by teaming up with freelancers is expected to offer significant prospects to the market growth. The need to establish efficient and seamless operations and effective communication between team and project members is expected to offer an impetus to the demand. Furthermore, increasing spending on team chat applications is expected to rise due to the demand for collaboration and communication software among enterprises.

The transportation and logistics segment is expected to benefit significantly due to the adoption of team collaboration software. Adoption of these software in logistics enables companies to effectively manage leads, bookings, document procurement, and facilitate seamless operations in geographically distant places. Furthermore, the rising trend amongst service providers to develop mobile and tablet PC specific collaboration applications to enable the functioning of more seamless business practices in logistics and supply chain organizations in various locations is further expected to offer significant growth opportunities. Deploying such software in the logistics sector enables effective collaboration between fleet maintenance, custom officers at customs, warehouse employees, and fleet drivers, thus ensuring effective management of resources and practicing cost-saving methodologies.

Another factor that has boosted the adoption of team collaboration is the advent of 5G delivery model. Rising demands of clients and increasing remote workforce facilitate the requirement to be connected and be productive, which can be achieved by leveraging 5G technology. The provision of high-speed internet offers the ability to indulge in seamless video conferencing, superior VoIP experience, and faster data processing and transfer rates. Organizations are preparing to introduce 5G by investing in a flexible network, which can adapt to new collaboration and communications tools. The adoption of upgraded software with 5G capability is expected to trigger the market growth over the next few years.

Furthermore, the trend among enterprises to implement open-office floor plans in place of cubicles has given rise to instances of dampened productivity of employees. The need to indulge in a quick impromptu or scheduled meetings is promoting organizations to invest in huddle rooms equipped with team collaboration technologies. Huddle rooms offer privacy to user teams, thus facilitating more focused brainstorming sessions and confidential discussions. Moreover, the low cost and effort of the creation of these rooms enable large enterprises and SMEs to benefit from them, which is expected to offer significant growth prospects to the market.

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Further key findings from the study suggest:

  • The cloud-based deployment segment is expected to witness the highest CAGR of more than 17% from 2020 to 2027, owing to a more connected and efficient infrastructure
  • The conferencing segment is envisioned to witness the fastest growth owing to rising demand among corporations to facilitate seamless collaboration between remote workforce and on-site employees
  • Healthcare segment is anticipated to witness growth attributed to the rising need to gain real-time insights on patient health and monitor their health even in the absence of doctors
  • Team collaboration software is expected to witness an increased demand in Asia Pacific owing to the growing trend towards digitization of enterprises

Telecom API Market Size Worth $590 Billion By 2027

The global telecom API market size is expected to reach USD 590.0 billion by 2027 growing at a CAGR of 21.9%, according to a study conducted by Grand View Research, Inc. Increasing demand for mobile phones that include features, such as GPS services, digital wallets, and Near-Field Communication (NFC), is anticipated to drive the market over the forecast period. Application Programming Interface (API) enables developers to create applications that can leverage the capabilities of the aforementioned features and services.

Rising usage of Internet of Things (IoT) in the telecom sector is expected to upkeep the market growth over the forecast period. Telecom companies, such as AT&T, Inc., Orange S.A., and Verizon, are providing their IoT platforms to various sectors, such as retail, manufacturing, utilities, and transportation. For the IoT platform by Orange S.A. named Live Objects, connections are made centrally through APIs or a web-portal. Data management for the company’s IoT platform is done through a software that is capable of collecting and visualizing data through standard APIs.

Web Real-Time Communication (WebRTC) consists of numerous APIs and protocols that operate simultaneously to enable data sharing and peer-to-peer teleconferencing without the need for installing any additional plug-ins. Market is expected to experience significant growth owing to the increasing adoption of WebRTC by various organizations, such as Vodafone Group, Cisco Systems, Inc., and AT&T, Inc. However, stringent government regulations may act as an inhibitor to market growth.

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Further key findings from the study suggest:

  • The messaging API type segment held the largest market share in 2019 and is projected to retain its leading position throughout the forecast period
  • The segment’s share is attributed to the increasing adoption of A2P messaging by organizations from various sectors to promote their products and services
  • The partner developer end-user segment is projected to expand at the fastest CAGR of more than 25% during the forecast period
  • This growth is credited to the increasing number of internet users, which has led to the adoption of Over-The-Top (OTT) media services among organizations
  • Asia Pacific is anticipated to be the fastest-growing regional market in the next seven years due to increasing number of smartphone users in developing countries of APAC
  • Major global companies in this market are AT&T, Inc.; Google LLC; Huawei Technologies Co., Ltd.; and LocationSmart
  • These companies have undertaken business strategies, such as collaborations and M&A, to expand their product portfolio and boost the market position

Broadcasting & Cable TV Market Size Worth $397.69 Billion By 2027

The global broadcasting & cable TV market size is anticipated to reach USD 397.69 billion by 2027, exhibiting a CAGR of 3.4% over the forecast period, according to a new report by Grand View Research, Inc. The fusion of Augmented Reality (AR) and Virtual Reality (VR) in broadcasting technology offers significant growth opportunities for the market. AR and VR technology enables users to experience superior viewing quality content via computer-generated infographics. The amalgamation of AR and VR in broadcasting technology allows content creators to simulate different scenarios and showcase information in a more interactive and visually appealing manner. The creation of such appealing content is comparatively cost-effective and offers better profit generation capabilities.

The advent of the 5G delivery system offers significant prospects for the broadcasting and cable TV industry. The growth can be attributed to high functionality in the delivery of IPTV services. 5G model is expected to facilitate the delivery of high-quality content to several users due to the availability of large bandwidth, thus mitigating network congestion and allowing enhanced viewing experience. Additionally, implementation of 5G technology is expected to enable service providers to penetrate in geographically challenging locations, which are less accessible as compared to satellite connections. Implementation of 5G also allows service providers to leverage the full range of High Power High Tower (HPHT) applications in downlink mode, which is expected to facilitate smoother delivery of content to its customers.

Wide-scale adoption of multi-access edge computing technology is expected to offer incremental growth prospects for the broadcasting industry. The use of this technology is expected to prompt service providers to deploy specifically designed components, which provide ultra-low latency and mitigates issues, such as buffering and low picture, to provide seamless, ultra HD content to viewers. Additionally, multi-access edge computing facilitates higher efficiency for technologies, such as 8K and VR, which further offers an impetus to the broadcasting and cable TV industry growth. The technology also provides enhanced access to computing powers that is essential in understanding viewing trends of people to offer high-quality content, which is custom made for customers.

Cloud technology is expected to offer significant growth prospects for the market due to its virtue of saving a tremendous amount of data in a secure approach. The provision to virtualize the entire broadcast operation and the ability to diminish physical requirements, such as hardware servers, to store pre-recorded content, relays, and transmitters, thus offering efficient resource management capability. Additionally, adoption of technology offers service providers to transmit TV signals from play-out points to head-ends while maintaining the quality of the broadcast signal. The technology also enables service providers to roll out channels more efficiently, which is expected to offer better customer satisfaction and continued business operations.

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Further key findings from the study suggest:

  • Based on technology, the IPTV segment is expected to witness the fastest growth over the forecast period owing to availability of high-speed internet around the world
  • By revenue channel, the subscription segment is expected to expand at the highest CAGR over the forecast period due to rising demand amongst users for personalized viewing experience and bundled packages as they offer various benefits
  • Asia Pacific is expected to emerge as the fastest growing regional market in the years to come due to availability of the affordable internet and continual adoption of satellite TV services.For the purpose of this report

IPTV Market Size Worth $67.6 Billion By 2027

The global internet protocol television market size is anticipated to reach USD 67.6 billion by 2027, exhibiting a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. The integration of Artificial Intelligence (AI) with IPTV is expected to offer lucrative growth opportunities to service providers. AI-based voice-enabled search and discovery function enables users to explore the desired programs using natural language even when users do not know the name of an application. Further, the launch of AI-enabled IPTV set-top-boxes featuring voice assistants is expected to help service providers gain a larger subscriber base over the forecast period.

Advancements in video coding technology also offer significant growth prospects to the IPTV market. Owing to the high network bandwidth requirement of IPTV services, suitable video coding technology enables broadcasters to distribute content in multiple formats efficiently. Video coding has allowed users to access video-based content on diverse platforms such as smartphones and tablets, PCs, and media players, thus ensuring increased market penetration. Advancements in video coding technology have further led to improvements in dynamic encoding style, resolution encoding, and frame rate encoding, which helps in increasing the quality and leverages the resolution and movement, thereby improving user experience.

The advent of 5G technology offers significant growth aspects owing to the increased capability of network slicing and enhanced content distribution networking abilities. 5G technology leveraged Multiple Input Multiple Output (MIMO) and formed beam techniques ensure maximum utilization network, thus providing reduced distortion and greater precision in signal transmission. Furthermore, heavy traffic from cloud-based content libraries can easily be distributed due to the high bandwidth capability of the 5G delivery model, thus offering an impetus to the market growth. Additionally, the ability of the 5G delivery model to provide UHD viewing experience to the users at affordable rates provides a boost to the market growth.

Increased penetration of smart TV and enhanced functionality offered due to the integration of IPTV technology offers impressive market growth opportunities owing to its ability to interconnect with smartphones and tablets. Recent updates by Google Inc. in the distribution of content via set top boxes provide more control to operators, such as start-up, the UI, the application, set-up procedure, and prioritization of content, which is expected to enhance internet protocol television delivery by operators. Furthermore, service providers are offering hybrid IPTVs, which has mitigated the need to implement a separate set top box. Additionally, hybrid IPTVs integrate the functionality of traditional TV services with IPTV, thus featuring enhanced service offerings, which is expected to promote wide-scale adoption of IPTV services.

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Further key findings from the report suggest:

  • The subscription-based IPTV segment is expected to showcase the fastest growth over the next few years. The growth is attributable to an emerging need amongst individuals to indulge in the ad-free and personalized viewing experience
  • Growing internet infrastructure development is offering significant prospects to the market growth
  • Asia Pacific is expected to emerge as the fastest-growing regional market due to the growing penetration of affordable internet-based services and rising acceptance of the internet as a utility

Dropshipping Market Size Worth $557.9 Billion By 2025

The global dropshipping market size is expected to reach USD 557.9 billion by 2025, registering a CAGR of 28.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Rising consumer inclination toward online shopping platforms, coupled with the proliferation of internet users, is anticipated to positively impact market growth. Dropshippers offer services to retailers such as direct transfer of goods to customers and inventory maintenance. Moreover, benefits provided through dropshipping services encourage e-commerce companies to adopt these services, as the shipment of the products/goods is not limited to the internal boundaries of the country and can even offer product deliveries across international borders.

Rising disposable income and increasing internet and smartphone penetration have favored the e-commerce industry, thereby impacting the adoption of dropshipping. Dropshipping enables e-commerce companies to capitalize on warehouse and logistics investments. Moreover, fewer capital investments in inventory and logistics have resulted in an increased demand for dropshipping amongst retailers.

Several e-commerce startup businesses are opting for dropshipping services since fewer investments are required for product warehousing, resulting in reduced shipping and logistics costs. The growing number of online purchases by consumers has enabled the emergence of new e-commerce companies. Inclination of emerging e-commerce companies toward dropshipping business is further generating avenues for market growth.

However, government rules and regulations for product shipment and cybersecurity threats are hindering the market growth. Moreover, the General Agreement on Trade in Services (GATS) comprises rules and regulations governing international trade in services, with significant implications for e-commerce. The Anti-Spam Law is in place to protect consumers from receiving unsolicited marketing material, thereby restraining the growth of the market.

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Further key findings from the study suggest:

  • The electronics and media segment accounted for a market share exceeding 22.0% in 2018 owing to increasing innovations in the electronics industry, coupled with rising demand for electronics
  • The food and personal care segment is expected to register a CAGR exceeding 30.0% from 2019 to 2025, owing to the rising consumer demand for skincare products and cosmetics, among others
  • The fashion segment held the largest market share of over 30.0% in 2018, which can be attributed to the growing disposable income of consumers, coupled with rise in online retail spending among consumers
  • Asia Pacific is expected to witness substantial growth owing to the high percentage of global population and increasing internet penetration, which, in turn, drives the e-commerce industry in the region
  • The dropshipping market is fragmented and characterized by the presence of small- and medium-sized companies. The major global players operating in the market include AliDropship; Doba, Inc.; SaleHoo Group Limited; and Oberlo, Inc.

U.S. SMS Marketing Market Worth $12.6 Billion By 2025

The U.S. SMS marketing market size is expected to reach USD 12.6 billion by 2025, expanding at a CAGR of 20.3%, according to a study conducted by Grand View Research, Inc. Use of text messages for promotion and advertisement is gaining popularity owing to increasing number of mobile phone users in the country. U.S. is one of the leading country in terms of adoption of smart phones, aiding the marketers in reaching the target customer. Moreover, cost effectiveness and convenience of reaching the target is anticipated to propel the demand for text message marketing over the forecast period.

The use of Rich Communication Service (RCS) protocol is enhancing the text message system by allowing sending and receiving of high-resolution media files via messages. It allows marketers to make promotional messages more interactive and creative in order to attract customers. The advent of RCS, coupled with technologically advanced smartphones that support advanced messaging features is expected to drive the market growth.

Companies are largely focusing on improving customer relationships and engagement by providing special discounts and offers, tailor-made for customers. The use of SMS for sending such offers helps them to customize messages according to the individual customer. Thus, increasing competition has led to the increased usage of text messages, and the trend is expected to influence market growth over the forecast period.

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Further key findings from the study suggest:

  • SMS marketing market is gaining traction owing to the fact that it eliminates the use of paper used by other means of marketing
  • The SMEs segment is anticipated to record substantial growth from 2019 to 2025 owing to increasing use of text messages by small retailers and businesses to send promotional coupons and other offers
  • In an attempt to sustain competition, banks are introducing several services. The use of texts for marketing these services is expected to augment the growth of the BFSI segment over the forecast period
  • The U.S. SMS marketing market is characterized by intense competition with several players such as Infobip Ltd.; InMobi; Marketo; Amobee, Inc.; Chartboost; Slick Innovations, LLC.; and IBM Corporation offering similar solutions. Pricing and product differentiation is the key to sustain competition.

Legal Services Market Worth $1,045.2 Billion By 2025

The global legal services market size is anticipated to reach USD 1,045.24 billion by 2025, exhibiting a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. The growing use of latest technologies in offering legal services is expected to drive the market growth. A strong emphasis on ensuring transparency in the relationship with clients is also expected to drive the growth of the market.

Law firms are increasingly adopting chatbots to aid in optimizing the work process and save time and costs for themselves as well as their clients. Chatbots can help law firms in digitizing the information and searching for lawyer-specific documents, among other tasks. Chatbots can also help in following up with non-responsive clients and seeking the required information through automated conversations.

Law firms are exploring different ways to help their clients in reducing exposure to risks and the costs incurred on compliances by aiding them in better management of information, thereby paving the way for adopting document automation software in legal services. Document automation software takes end users through a questionnaire to collect relevant data and direct them throughout the entire document creation process. Such an approach relieves the end users from the tedious process of understanding the terminologies appearing in the document.

Social networking holds significant potential to transform the way legal services are delivered. As such, law professionals are adopting various social media tools to accomplish a myriad of legal tasks as well as pursuing their career objectives. Social networking platforms, including LinkedIn, Facebook, and Twitter, are particularly helping law professionals in reaching a larger audience.

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Further key findings from the report suggest:

  • The corporate segment is expected to emerge as the fastest-growing segment over the forecast period as disputes over organizational audits, discrimination and harassment of employees, copyright violation, and patent infringement continue to rise
  • The private practicing attorneys segment is expected to witness substantial growth over the forecast period owing to the increased opportunities for attorneys in large enterprises as well as small- & mid-sized enterprises
  • Law firms are changing their hiring patterns in line with the evolving requirements of the clients
  • Law firms are collaborating with professional service providers to offer unified multi-disciplinary services to their clients
  • Some of the key players in the market include Baker & McKenzie, Clifford Chance LLP, DLA Piper, and Ernst & Young (EY), among others.

Online Movie Ticketing Services Market Size $28.86 Billion By 2025

The global online movie ticketing services market size is expected to reach USD 28.86 billion by 2025, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising disposable income, along with changing customer preference towards online movie bookings, are primarily driving the growth.

Increased efforts made by industry players to make their website interfaces and mobile applications more user-friendly have influenced market growth positively. Service providers are focusing on redesigning their websites and smartphones applications to provide improved features such as select-your-own seat and view-from-seats to improve customer experience. Although online movie ticket sales through PCs currently garner the highest revenue share, bookings made through mobile applications are anticipated to lead the online movie ticketing services market over the forecast period.

North America accounted for the largest market share in 2018 and is expected to retain its dominance over the next six years. This growth is characterized by the evolution of a wide range of ticketing technologies in developed countries, such as U.S. Latin America is expected to witness a substantial growth during the forecast period, due to the shift of users towards digitized form of ticket booking. Asia Pacific is also projected to register high growth over the next six years, accredited to the well-established presence of renowned film industries in the region, which results in audiences thronging to catch a glimpse of their favorite superstars on big screens.

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Further key findings from the report suggest:

  • Mobile segment is anticipated emerge as the fastest growing platform, on account of the increasing adoption of smartphones and utilization of mobile applications to conduct online transactions
  • Asia Pacific is expected to expand at a CAGR of more than 8% over the next six years due to improved purchasing power of people across developing nations such as India
  • Key players operating in the online movie ticketing services market include AOL Inc.; Atom Tickets LLC; Bigtree Entertainment Pvt. Ltd.; Cinemark Holdings Inc.; Cineplex Inc.; Fandango; Inox Leisure Ltd.;; Mtime; and VOX Cinemas
  • The players are facing tough competition from startups and innovators. To improve their market positions, companies focus on ways of expanding their presence and gaining a competitive edge over the other companies through strategic initiatives such as mergers and acquisitions and collaborative partnerships

Enterprise Video Market Worth $33.72 Billion By 2027

The global enterprise video market size is expected to reach USD 33.72 billion by 2027, registering a CAGR of 11.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The growing demand from organizations to enhance collaboration between internal and external stakeholders, and maximize customer engagement has resulted in increased adoption of solutions such as video conferencing and webcasting, drive the market growth. The rise in the number of online video viewers is anticipated to provide lucrative opportunities to the market players, as marketers are focusing on the promotion of brands through videos. In 2016, there were about 700 million video viewers, which has risen to 2.6 billion in 2019. The marketers promote brands of their clients through demos, events, explainers, and customer testimonials/case studies, among others. Moreover, proliferation of 4G-enabled mobile devices and rise in the number of Video Conferencing-as-a-Service (VCaaS) providers are expected to contribute to market growth.

GUI (Graphical User Interface) concept.

The synergy of enterprise video and digital signage has enabled companies to improve brand awareness, product awareness, and customer engagement that is anticipated to drive the growth of the market. The use through signage and kiosks at branch locations is helping banks create differentiation of business strategies and increase customer value, while increasing the promotion and uptake of its products and services such as credit cards and loans, among others. Furthermore, various venture capital firms are providing funding to various start-ups involved in the development of these solutions such as Vbrick, Pexip ASA, and Grabyo, among others, which is impacting the market growth positively. For instance, in June 2018, Morgan Stanley Expansion Capital provided funding worth USD 20 million to Vbrick, a developer and provider of enterprise video software for the corporate sector.

Various companies, such as Microsoft Corporation; IBM; and Cisco Systems, Inc. are emphasizing the development of live streaming applications, which is anticipated to boost the market growth. For instance, in October 2019, IBM launched its IBM Video Streaming platform that allows users to broadcast multiple live-streamed contents. The app offers organizations to take full control over the content including transcription, ingestion, storage, and metadata content management. Governments in response to the outbreak of the COVID-19 pandemic are focusing on providing funds to law enforcement agencies in adopting these solutions for remotely carrying out their operations. For instance, in April 2020 the Ohio Supreme Court announced a funding worth USD 4 million to high courts for purchasing video conferencing systems.

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Further key findings from the study suggest:

  • The incumbents in the gaming industries such as Rovio Entertainment Corporation; Activision Publishing, Inc.; and Electronic Arts Inc.; are increasingly focusing on the adoption of social media and content sharing platforms for targeting potential customers. This is expected to enhance the growth of the video content management segment
  • The reduction in costs provided by managed service providers is anticipated to boost the growth of the managed services segment. These services reduce the recurring in-house costs by 30 to 40%
  • Owing to the growing emphasis of cloud computing companies such as Amazon Web Services, Inc. and Microsoft Corporation on establishing robust security and compliance standards, the cloud segment is anticipated to grow significantly
  • The marketing and client engagement segment is anticipated to register the highest CAGR on account of the increasing demand for influencers from various advertising and marketing firms
  • In July 2019, Amazon Web Services, Inc. included Dynamic Adaptive Streaming over HTTP capability in its Amazon Kinesis Video Streams that will enable developers to playback their ingested streams using HTTP-based media streaming protocol. Such initiatives are expected to drive the growth of the adaptive streaming delivery technique segment
  • The SME segment is anticipated to expand at the highest CAGR over the forecast period on account of increasing adoption of freemium-based solutions such as Zoom Video Communications, Inc.
  • Various government agencies including the U.S. Department of Health and Healthcare U.K., among others are focusing on holding webcasts such as NYS Health Research Science Board Business Meeting & Public Hearing held in May 2020. It is expected to drive the growth of the healthcare segment