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.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/team-collaboration-software-market

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

North America Long-term Care Software Market Worth $2.1 Billion By 2025

The North America long-term care software market size is anticipated to reach USD 2.1 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 12.4% over the forecast period. Aging baby boomers, growing incidence of chronic diseases, and government initiatives to include long-term care software in healthcare facilities are anticipated to drive the growth. With increasing demand for formal care, new technologies are being adopted to provide better and personalized care to the elderly, which is likely to further fuel the market during the forecast period.

The North America long-term care software market is likely to witness a high growth due to increasing geriatric population, awareness, and reforming healthcare infrastructure to provide affordable healthcare to senior citizens. According to the Health Trends Alberta projection, increasing geriatric population is expected to add USD 3.8 million to the health care costs of Canada by 2030.

Various strategic initiatives by market players are expected to boost the LTC software market growth. In August 2018, Mediware Information Systems acquired BlueStrata EHR to expand its long-term care software technology solutions. The acquisition is expected to support Mediware to meet healthcare needs of the aging population.

Moreover, various mergers and acquisitions are anticipated to fuel market growth. For instance, in October 2016, Netsmart acquired HealthMEDX to broaden its U.S. long-term care solutions for home care providers, nursing facilities, retirement communities, and assisted and independent living facilities.

Companies also focus on regional expansions through business collaborations. In April 2016, Good Shepherd Rehabilitation Network opted for Cerner Millennium clinical and financial management solutions to implement integrated Electronic Health Record (HER) system in 40 outpatient facilities in Eastern Pennsylvania, resulting in regional expansion for Cerner Corporation.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-long-term-care-software-market

Further key findings from the report suggest:

EHR accounted for the largest market share in 2017 owing to to better medical care and accurate patient information provided by the software
Cloud-based solution is anticipated to be the fastest growing segment during the forecast period due to cost-effectiveness, less operational issue, low investment, and ease of implementation with advanced security
U.S. dominated the North America long-term care software market and is likely to witness significant growth over the next decade due to rising aging population demanding long-term care coupled with need to lower the healthcare costs
Some of the key market players are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cerner; McKesson Corporation; Omnicare; Omnicell, Inc.; MatrixCare; Optimus EMR; Netsmart; and PointClickCare.

Smart Stadium Market Worth $21.00 Billion By 2025

The global smart stadium market size is expected to reach USD 21.00 billion by 2025, expanding at a 20.9% CAGR over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing focus on engaging and entertaining the fans at stadiums, coupled with stringent security regulations framed by sports governing bodies are among the key factors driving the market growth. Additionally, growing demand for data-driven operations and upcoming international and national sports events are anticipated to increase the demand for smart stadiums.

Stadiums across the developing and developed economies are being renovated to offer facilities such as smart parking, fan experience, operational efficiency, enhanced security, and next-generation viewing experience, among others. Smart stadiums include many surveillance solutions, parking solutions, sensors, and digital signs, among other solutions. These solutions deliver real-time information such as in-stadium merchandise pricing, lines at concession stands, and available parking, thus enhancing the fans’ overall experience. Additionally, smart stadiums support green initiatives navigating fans to dispose of waste in dustbins and allowing only disposable items in the stadium.

In 2018, Europe accounted for a majority stake of the smart stadium market, attributed to the high adoption of smart stadium solutions owing to a large number of stadiums across the region. The region has over 1,200 stadiums and has the highest number of professional sports teams and leagues. In 2018, Germany held the majority share in the Europe market.

Asia Pacific, on the other hand, is projected to grow at a considerable CAGR and is anticipated to account for 29.8% of the market revenue in 2025. The strong growth is attributed to the digitalization of sports, increasing penetration of internet and cloud technology, and the emergence of professional leagues in the region. Moreover, sports organizations, including Melbourne Cricket Association, New Zealand Cricket, and Sahara Force India, among others use advanced technologies for hosting tournaments. Singapore, Australia, Japan, India, and China are some of the countries focused on building new smart stadiums and renovating the existing stadiums with improved technology.

Some of the key players operating in the market are Cisco Systems, Inc.; Apple, Inc.; Telefonaktiebolaget LM Ericsson; Fujitsu Ltd.; Fitbit, Inc.; NXP Semiconductors; IBM Corporation; NEC Corporation; Johnson Controls; and Intel Corporation. The market is moderately consolidated owing to the existence of a few solution providers that account for the majority share of the market revenue.

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

Further key findings from the report suggest:

Software segment is expected to continue leading the smart stadium market over the forecast period owing to increasing focus on fan engagement by providing them better experience. The segment is expected to reach USD 12.97 billion by 2025
On premise segment is estimated to dominate the market over the forecast period. The smart stadium comprises of a large number of cameras, digital signs, and sensors, connected to wireless and wired servers and networks
Asia Pacific is estimated to expand at a significant CAGR of 23.5% over the forecast period. Emerging countries such as Japan, India, ASEAN, and Australia are swiftly adopting digital technologies in stadiums for enhancing the fan experience and increasing safety and security
Prominent market players include IBM Corporation; Intel Corporation; NEC Corporation; Cisco Systems, Inc.; Telefonaktiebolaget LM Ericsson; among others

Video Management Software Market Worth $4.79 Billion By 2025

According to a report published by Grand View Research, the growing adoption of video surveillance and monitoring tools for applications such as building security, traffic control, and cross-border activities is a key driver for market growth.

According to a report, “Video Management Software Market Size, Share & Trends Analysis Report By Technology, By Deployment (On-Premise, Cloud), By Solution, By End Use, By Region, And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global video management software market size is expected to reach USD 4.79 billion by 2025, growing at a CAGR of 18.8% from 2019 to 2025. The growing adoption of video surveillance and monitoring software for applications such as facility protection, traffic management, and cross-border activities is the key driver contributing to the market growth. The software is majorly used for the unified management of multimedia content including collection & storage, playback, and streaming functionalities.

The market is anticipated to witness significant growth owing to increasing awareness of the benefits offered by VMS and growing investments in city surveillance as part of the smart city projects. Moreover, the increasing adoption of High-Efficiency Video Coding (HEVC), also known as H.265 video compression standard, coupled with the rising trend of integrating VMS with emerging technologies such as built-in intelligence and deep learning for video analytics is expected to boost the video management software market growth. A unified VMS enables customers to merge analog and IP videos and offers a cost-effective approach to businesses for expanding and improving their surveillance capabilities.

VMS can be integrated with multiple digital cameras depending on the requirements of the customer. With the growing adoption of Closed-Circuit Television (CCTV) cameras and Internet Protocol (IP) network cameras in the security and surveillance market, the demand for VMS is also anticipated to witness significant growth over the forecast period. The software enables customers to enhance situational awareness and monitoring capabilities. High-resolution videos and imagery can also be used by government law enforcement agencies to identify, track, and arrest criminals.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/video-management-software-market

Video Management Software Market Report Highlights

On the basis of technology, the hybrid video management software market segment dominated the market in 2018 led by the widespread introduction of traditional video monitoring systems by governments and companies to boost defense.
The IP-based video management software segment is expected to witness the fastest growth over the forecast period due to the rising trend of replacing conventional analog video monitoring and surveillance systems with IP-based cameras.
Based on the solution, the data integration segment dominated the market in 2018 owing to the wide-scale adoption in video surveillance and monitoring solutions.
The video analytics solution is anticipated to emerge as the fastest-growing segment over the forecast period. Video analytics plays a critical role in solutions such as traffic monitoring & management, transportation & logistics, and retail customer analytics.
On the basis of deployment, the on-premise segment enables users to integrate multiple cameras installed on a site and deploy the software at their workstations or servers within the facility. This segment dominated the market in 2018.
The cloud-based video management software segment is expected to witness high growth over the forecast period owing to the increasing use of cloud-based solutions by small, medium as well as large enterprises.
North America dominated the video management software market and can be attributed to the presence of key industry players and increased adoption of high-end IP-based monitoring and surveillance systems in the region.
The Asia Pacific is projected to emerge as the fastest-growing market for video management software owing to the rising adoption of cloud-based video management software in emerging markets such as China and India.

Revenue Assurance Market Size Worth $8.71 Billion By 2027

The global revenue assurance market size is projected to reach USD 8.71 billion by 2027, expanding at a CAGR of 11.1% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Revenue assurance is a prime factor that upholds operators’ margins. It mainly focuses on the important areas such as detecting leakage of revenues, correcting, or fixing the issue and then ensuring that changes are made to avoid recurring issues. It is imperative for operators to assess the complete lifecycle of capturing and identifying data leakages and recovering them to prevent revenue loss and establish a building block for fee or income transparency.

The telecommunication industry has undergone a rapid evolution. Technological advancements in regards with artificial intelligence (AI) capabilities, 5G networks, and IoT have mainly been led by the need to offer tailored services and applications effortlessly to users in a pervasive manner. Significant changes are expected to take place in existing telecommunications networks and service infrastructure for offering new and converged services across the heterogeneous access networks to a wide range of end users. For instance, changes in voice calling and networks have exposed many carriers to revenue losses. The deficiency of quality arises from concerns such as call routing across multiple networks. Poor or inadequate call quality compromises the customer experience and revenue is often delayed through inter-carrier differences over fair charges and the service quality delivered. This transformation in itself is a huge challenge for operators since they need to safeguard their unique and evolving infrastructure from fraud and revenue assurance threats.

Growing business complexities are expected to catapult the demand for revenue assurance solutions and services over the forecast period. An increase in complication of networks and services, coupled with rising usage of technology by fraudsters, is also expected to boost the demand for revenue assurance over the forecast period. The revenue streams processes have become complex due to rising number of participants and types of services being offered. Despite the improved technology infrastructure, revenue leakage occurs at several points alongside the revenue flow and are possibly very significant.

Nevertheless, lack of organizational empowerment and shortage of skilled personnel may pose a challenge to market growth. End-use industries often lack their responsibility towards empowering their resources and refuse to spend extra in investing in revenue assurance solutions and services, which is expected to restrain the demand in the years to come. Additionally, with millions of subscribers, a range of new and innovative products, customized solutions, operational support services, including order fulfillment, service configuration, billing, and customer care, are becoming complex. Hence, the cost of handling these operations requires skilled resources, thereby increasing the financial overhead. Lack of emphasis on change frequently leads to severe instances, which have a financial impact like unexpected revenue leakages that affect billing due to changes in the network, particularly if risk management activity is absent or weak. This is further projected to pose a challenge to market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/revenue-assurance-market

Further key findings from the report suggest:

By deployment model, the cloud segment is expected to expand at the fastest CAGR of 13.21% over the forecast period. Owing to rising inclination towards cloud-based solutions, major players in the market are investing in cloud-based applications and are supporting the telecom operators to reduce revenue frauds
Based on end-use vertical, the telecom sector accounted for 35.04% share in 2019 and is expected to witness fastest growth over the coming years as revenue assurance is one of the major concerns affecting the telecom industry worldwide
Asia Pacific is expected to expand at the highest CAGR of 15.1% over the forecast period owing to the high amount of revenue leakages in the region.

Travel And Expense Management Software Market Worth $17.4 Billion By 2027

The global travel and expense management software market size is expected to reach USD 17.4 billion by 2027, expanding at a CAGR of 12.4%, according to a study conducted by Grand View Research, Inc. Travel and expense management software provides travel, expense, and invoice management services on a single platform, which helps organizations to approve and automate processes like submitting travel plans and expense reports. Several companies are engaged in introducing the software on cloud platform and providing its access to the employees on their mobile phones. The mobile access has made it easier for employees to remotely update their travel expense data. In addition, the software can be integrated with functions like Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Human Capital Management (HCM) systems, which ensures streamlined data flow between these systems.

The implementation of artificial intelligence in the software helps the companies to automate and optimize the report approvals and payment processes for their employees. Artificial intelligence offers the organizations with risk management solutions as the software analyzes travel histories and spending’s of an employee to fall in line with the policies. Companies like Concur technologies, Inc., Infor, Oracle, and Certify, Inc. are working on inducing artificial intelligence in the software, which will open up a wide array of features to the users. Companies have introduced solutions that support multiple currencies and languages and can detect and make automatic conversion using AI-based tools.

Machine learning is a technology which provides a system with the ability to automatically learn to predict and improve future outcomes. The integration of machine learning with the system will allow companies to keep a track on employee expenses and will get real-time data in the form of an image of travel receipts from the employee. For instance, Concur Technologies, Inc. offers a feature that allows a user to take pictures of the receipt and digitally store it in the database. Additionally, the text from the receipt image can be extracted using Optical Character Recognition (OCR), and essential fields like date, currency, total amount, and spending type can be identified with the help of machine learning. The software then creates an expense entry using the above field and can be added to spending reports. The system is embedded with chat-bots based on machine learning, which uses natural language processing to respond to a conversational request made by a user. Such technologies are expected to influence the company’s travel budgets in a positive way and are anticipated to drive the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/travel-expense-management-software-market

Further key findings from the report suggest:

Travel and expense management software is gaining traction owing to its availability on smartphones
Small and medium enterprises held over 30.0% of market share in 2019 and is anticipated to witness significant growth over the forecast period owing to the early return on investment and reduced administrative expenses
The cloud segment is expected to capture substantial portion of the market and is expected to witness a CAGR of more than 10.0% during the forecast period considering that it provides remote access
Due to the increase in expenditure on business trips and higher accumulation of spending reports, the market is expected to witness significant growth over the forecast period.

Dental Practice Management Software Market Worth $3.8 Billion By 2027

The global dental practice management software market size is expected to reach USD 3.8 billion by 2027, expanding at a CAGR of 10.2% during the forecast period, based on a new report by Grand View Research, Inc. Market growth can be attributed to the increasing geriatric population along with an expected increase in oral healthcare expenditure and in number of dental practices.

According to the U.S. Census Bureau’s International Data Base, the population of individuals who are 45 years and older is expected to grow by about 12.0% between 2015 and 2025, while the total U.S. population will increase by about 8.0% during the same period. Furthermore, the expected increase in oral health insurance coverage and favorable government initiatives could drive the market during the forecast period.

The usage of various modules increases the productivity and efficiency of dentists. Furthermore, technological advancements in the field and growing investments by companies in emerging economies are expected to propel market growth. Integrated software solutions help in streamlining the dental practices.

Mergers and acquisitions for the development and commercialization of products are likely to drive market growth in the coming years. In 2018, Henry Schein, Inc., formed Henry Schein One, LLC in a joint venture with Internet Brands, a software company. The new company was launched with an intention to provide integrated dental technology to medical practitioners in order to improve patient communication and practice management.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/dental-practice-management-software-market

Further key findings from the report suggest:

By deployment mode, the web-based segment dominated the dental practice management software market in 2019 owing to the reasonable pricing structure. The cloud-based segment may surpass the web-based and on-premise segments over the coming years owing to the additional advantages
The cloud-based dental practice management software segment is projected to grow at the fastest rate during the forecast period. This is due to its flexibility, disaster recovery system, automatic software updates, increased collaboration, ability to work on any internet connected device, security, environment-friendly features, and ability to establish competition
By end use, the dental clinics segment accounted for the largest market share in 2019 and is expected to exhibit the fastest CAGR over the forecast period
In 2019, North America dominated the global market due to favorable government initiatives, local presence of key players, growing geriatric population, and high oral healthcare expenditure
Asia Pacific is expected to grow at the fastest rate over the forecast period owing to increasing investments by industry players and rising awareness about oral healthcare
Some of the market players operating in the industry are Henry Schein, Inc.; Patterson Companies, Inc.; Carestream Dental; Curve Dental, Inc., DentiMax, LLC; Practice Web, Inc.; NextGenHealthcare Information Systems, LLC; and ACE Dental Software.

Team Collaboration Software Market Size Worth $24.2 Billion By 2027

Click the link below:
https://www.grandviewresearch.com/industry-analysis/team-collaboration-software-market

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

Video Analytics Market Size Worth $9.4 Billion By 2025

The global video analytics market size is expected to reach USD 9.4 billion by 2025, according to a new study by Grand View Research, Inc., registering a 22.8% CAGR over the forecast period. Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving the market growth. In addition, increasing concerns over public safety and the use of video analytics in criminal investigations are positively impacting demand for video analytics solutions.

Apart from surveillance, video analytics solutions have also found increasing applications in the retail sector for estimating average footfall, gender bifurcation, display effectiveness, and attractiveness of shelf space. Furthermore, superstores and mega marts have started implementing these systems to gain insight into consumer behavior.

The use of advanced algorithm technology in video analytics enables the examination of captured videos frame by frame, irrespective of light exposure, thereby making video analytics a reliable and efficient choice for ensuring security. Furthermore, industries such as transportation, retail, and healthcare are witnessing a significant increase in the adoption of video analytics, owing to rising application of intrusion detection, license plate recognition, crowd management, and congestion detection in these industries.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/video-analytics-market

Further key findings from the study suggest:

Facial recognition is expected to emerge as the fastest-growing application segment with a CAGR of 25.9% from 2017 to 2025. This can be attributed to the widening scope of facial recognition solutions for surveillance purposes at malls, events, airports, and public transport, among others
By type, the services segment is projected to register the highest CAGR of 24.0% for the next eight years. This can be attributed to increasing demand for and installation of video analytics solutions, which are, in turn, propelling demand for related managed and professional services
The cloud segment is anticipated to emerge as the most preferred deployment option for video analytics solutions as it offers flexibility and convenience, allows remote access, and provides easy maintenance
North America accounted for the largest share in 2016 and is driven by the presence of prominent market players who consistently work on developing new and innovative technologies in video analytics
The retail end-use segment is anticipated to register the highest CAGR of 25.6% over the forecast period. This may be attributed to the use of video analytics in applications such as people counting, display and promotion effectiveness, product placement and store layout, and customer preference pattern analysis
Asia Pacific is expected to experience the highest growth from 2017 to 2025, driven by emerging economies such as India and China. These nations are expected to augment their expenditure on intelligent and security surveillance systems
Key industry participants include Cisco Systems, Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; AllGoVision Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v System Pvt. Ltd.

Telecom Analytics Market Size Worth $10.7 Billion By 2027

The global telecom analytics market size is projected to reach USD 10.7 billion by 2027, expanding at a CAGR of 14.5% during the forecast period, according to a study conducted by Grand View Research, Inc. Telecom analytics offers business intelligence solutions to the evolving telecommunications sector and also aids in identifying the present situation of the company with respect to its market opposition by identifying progressive trends and predicted parameters.

Increasing use of descriptive and diagnostic analytics to enhance business functions is one of the major factors fueling the growth of the market globally. Big data has become a ubiquitous part of telecom industry because of the huge amount of data being generated every minute through the connected world. About 2.5 quintillion bytes of data is created every day. The enhanced networks coupled with the proliferation of smart devices has facilitated the telecom operators to gain access to a multitude of information about their customers’ preferences and behavior. This, in turn is expected to bolster market growth over the forecast period.

Telecom analytics possesses an ability to formulate strategies associated with cross-sell and up-sell and service and solution plans, thereby helping companies in the sector to obtain value from network resources. In addition, systematic computational analysis of data in the industry is also being leveraged to discover new routes of innovation and build better investor relations. Additionally, systematic computational analysis of data in the telecom industry brings importance in decision making, provides more accurate and actionable insights, ensures competitive benefits to the companies involved, and enable them to plan more efficient cost structure. A massive amount of unstructured data is formed from connected and communication devices, and social media. When this data is converted into a structured data, telecom service providers take out insights about their customer preferences and choices which in turn help them to figure out a customer profile and produce more targeted offers.

Accordingly, the ability of enterprises to capitalize on the potential of systematic computational analysis of data for the industry is expected to drive the growth of the market. While data analytics companies are experiencing growth, there is a massive shortage of talent. The telecom industry requires skilled data scientists who can understand the technology as well as the business objective of a telecom operator. Data scientists and analytics experts are highly in demand. Hiring new experts or training the existing workforce can cost the organization considerably, and the process of acquiring skills related to systematic computational analysis of data takes significant amount of time, which thereby pose a huge challenge. As a result, this very reason is one of the major factors expected to hinder the growth of the market during the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/telecom-analytics-market

Further key findings from the report suggest:

The cloud segment is expected to witness a CAGR exceeding 15.0% over the forecast period. Owing to low investment cost, scalability, and agility offered by cloud deployment model, the segment is expected to witness significant growth
The solution accounted for over 65.0% of the global market share in 2019, and the segment is expected to witness considerable growth over the coming years. Moreover, the segment is anticipated to continue its dominance as the fastest growing segment during the forecast period
Asia Pacific region is expected to grow at a fastest pace expanding at a CAGR exceeding 15.0% over the forecast period, which is accredited to the increasing investments in advanced technologies such as IoT and Big Data in the developing countries including India, and China.