Transportation Analytics Market Size Worth 21.8 Billion By 2027

The global transportation analytics market size is expected to reach USD 21.8billion by 2027, registering at a CAGR of 15.6% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Increasing expenditure of governments in transportation sector across the world and the growth of smart cities vis-à-vis urbanization are the major driving forces fostering the market growth. Moreover, consumerization of big data, advancements in analytics technology owing to artificial intelligence and machine learning will aid the utility of analytics in the transportation industry. Besides, acquisition of analytics startups, mergers and collaboration, and research and development investment in technology enhancement of analytics by major industry players will boost the market growth.

As per the published report by Transport Research Centre of Czech Republic, in 2018 there are around 500 million surveillance cameras across the world, generating 15 billion gigabytes of data per week. This number will double every two years, which will be stored and analyzed for improving and streamlining the public transport situation. The potential of data collection and its analysis will also be harnessed through growing application of intelligent transport systems across the world. Moreover, the data collected from the sensing platforms such as intra vehicular and urban sensing platform will help in achieving the primary aim of Intelligent Transport Systems (ITS) such as access and mobility, economic development, and environmental sustainability. All the precedent factors will help boost the market growth over the forecast period.

As per automobile industry estimates, in 2015 there were around 1.3 billion vehicles plying on the road worldwide and with growing economy in developing regions, the number is expected to rise over 2 billion by 2040. The development of new roads and bypasses will not suffice the ever increasing traffic level loads in urban areas across the globe. However, with the combination of new transport analytics solutions and communications technology with the aid of Artificial Intelligence (AI), large amount of traffic data can be analyzed in real time to cope the growing number of vehicles. Such developments across the transportation and communication sector will propel growth of the market for transportation analytics solutions over the forecast period.

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

Further key findings from the study suggest:

The prescriptive type of transportation analytics is likely to grow at rapid rate over the forecast period. Emergence of advanced technologies such as AI and ML, and advent of IoT is likely to boost the segment growth. Among major vendors, Oracle’s Analytics cloud platform offers predictive analytics software within the platform, which helps developers to mine various data types, destroy the movement of data, and deliver actionable insights
The cloud deployment was the most preferred way for deployment of the analytics in 2019 and is anticipated to grow rapidly over the next eight years. Growth in cloud computing technology and its services such as SaaS, PaaS, and IaaS will foster the segment growth
The planning and maintenance management application is anticipated to be the fastest growing segment over the forecast period. Reduction in downtime, monitoring assets for anomalies, cost effective servicing and repairs, trends and forecasting events through analytics are some of the major factors that are likely to drive the segment growth
Asia Pacific is expected to expand at the highest CAGR from 2019 to 2025 owing to smart transportation and traffic management initiativesundertaken by countries such asJapan, China, South Korea, Australia, and Taiwan. For instance, China’s 5 year plan for modern comprehensive transportation system will include SMART urban transportation management, integrated mobile payment solutions, mobile apps, shared mobility, and the use of big data in transport
Key market players include Cellint Corporation; Alteryx Inc.; Oracle Corporation; Inrix Corporation; IBM Corporation; SmartDrive Systems Inc.; Cubic Corporation; Sisense Inc.; Hitachi Ltd.; and Omnitracs LLC

AI Training Dataset Market Worth $4.8 Billion By 2027

The global AI training dataset market size is expected to reach USD 4.8 billion by 2027, expanding at a CAGR of 22.5%, according to a new report by Grand View Research, Inc. The artificial intelligence technology is proliferating. As organizations are transitioning towards automation, the demand for technology is rising. The technology has provided unprecedented advances across various industry verticals, including marketing, healthcare, logistics, transportation, and many others. The benefits of integrating the technology across various operations of the organizations have outweighed its costs, thereby driving adoption.

Due to the rapid adoption of artificial intelligence technology, the need for training sets is rising exponentially. To make the technology more versatile and accurate with its predictions, a wide number of companies are entering the market space by releasing various datasets operating across various use cases to train the machine learning algorithm. Such factors are substantially contributing to market growth.

Factors such as cultivation of new high-quality datasets to speed up the development of AI technology and deliver accurate results are driving the market. For instance, in January 2019, IBM Corporation, a technology company, announced the release of a new dataset that comprises of 1.0 million images of faces. This dataset was released with an aim to help developers to train their face recognition systems supported by artificial intelligence technology with diverse dataset. In addition, it will help developers to increase the accuracy of face identification.

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https://www.grandviewresearch.com/industry-analysis/ai-training-dataset-market

Further key findings from the study suggest:

Increasing creation of synthetic training data for unsupervised and supervised training of machine learning algorithm is driving the adoption of datasets by organizations thereby catalyzing market growth
The image/video segment is expected to portray high growth rate of more than 25.0% over the projected period
In Asia Pacific, the market is expected to have significant growth over the forecast period, owing to the substantial adoption of AI technology
The key players in the market areGoogle, LLC (Kaggle); Appen Limited; Cogito Tech LLC; Lionbridge Technologies, Inc.; Amazon Web Services, Inc.; Microsoft Corporation; Scale AI; Inc.; Samasource Inc.; Alegion; and Deep Vision Data.

Trade Surveillance Market Worth $2.9 Billion By 2027

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

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

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

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

Further key findings from the study suggest:

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

Automated Fingerprint Identification System Market Worth $12.46 Billion By 2025

The global automated fingerprint identification system (AFIS) market size is projected to reach USD 12.46 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 18.4% over the forecast period. Increasing demand for advanced security systems across various business domains is expected to boost the growth. In addition, rising adoption of mobile payment solutions and demand for integrated AFIS solutions are expected to fuel the expansion.

AFIS is increasingly used to cater to the safety and security needs of individuals and organizations, on account of growing number of threats across the globe. A biometric identification system is difficult to circumvent. Systems based on this technology provide a secure identification and verification mechanism to mitigate the level of transaction frauds and security breaches. This factor is expected to drive the demand for automated fingerprint identification systems over the forecast period.

Smart homes are equipped with advanced security systems such as fingerprint access control. Additionally,existing building retrofits are installing biometric security systems to counter thefts and malicious entries. This is further expected to boost the market growth. Furthermore, increasing terrorist activities and theft cases have compelled governments to deploy AFIS solutions in various government agencies, which, in turn, is expected to drive the market in near future.

The rising demand for AFIS technology in enterprises to monitor the attendance of employees is expected to propel the market growth. Developers are focusing on introducing automated fingerprint identification systems that can withstand extreme conditions and can be used suitably across various industries, including manufacturing, IT and telecommunication, construction, and oil and gas, among others.

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https://www.grandviewresearch.com/industry-analysis/automated-fingerprint-identification-system-market

Further key findings from the report suggest:

Software segment is anticipated to account for a significant market share over the forecast period owing to the advantages offered by biometric identity and security software
Government segment is expected to account for a significant market share over the forecast period owing to the increasing use of AFIS technology in e-governance applications and law and enforcement agencies
North America is expected to continue to lead the market over the forecast period and reach USD 4.05 billion by 2025. Growing adoption of AFIS by law enforcement agencies for criminal identification is anticipated to propel regional market
Key companies operating in the Automated Fingerprint Identification System (AFIS) market include Gemalto NV; NEC Corporation; Crossmatch; IDEMIA; Dermalog Identification Systems GmbH; SUPREMA; Fujitsu Limited; Sonda Technologies; HID Global Corporation; Papillon Systems; East Shore Technologies, Inc.; and AFIX Technologies.

One-off Chopsticks Market Size Worth $41.1 Billion By 2025

The global one-off chopsticks market size is expected to reach USD 41.1 billion by 2025, according to a new research conducted by Grand View Research, Inc. The growing need for disposable chopsticks, particularly made of aspen, is projected to spur the market growth over the forecast period. The fact that chopsticks form an integral part of tableware & kitchen utensils, particularly in the Asian countries, is expected to remain a key driver.

The one-off chopsticks market is anticipated to witness moderate growth over the forecast period, globally. This can be accredited to the use of aspen for producing chopsticks as compared to other materials such as bamboo, birch, and cottonwood, among others. Furthermore, manufacturers are gradually shifting their plants to North America and other regions, owing to the surging government regulations pertaining to deforestation and availability of aspen in these regions. However, the environmental impact and surging health concerns, due to the adoption of one-off chopsticks, are the key factors challenging the market growth.

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http://www.grandviewresearch.com/industry-analysis/one-off-chopsticks-market

Further key findings from the report suggest:

The bamboo chopsticks segment captured over 50% of the total revenue in 2015. However, aspen chopsticks are projected to witness high growth at a CAGR exceeding 11% from 2016 to 2025, owing to the surging espousal in Asian countries and better life span against their counterparts.
The Asia Pacific region dominated the market in 2015 with a market share of over 60%. However, North America is projected to emerge as the fastest growing market and is expected to witness a healthy CAGR of over 8%, primarily due to the rising aspen chopsticks manufacturing activities in the region.
The key purveyors in this industry comprise Pacific East Company, Ngoc Chau Enterprise Pte, Nanchang Sanyou Industrial Co., Ltd., Nine Zero Trade & Development Limited, Dom Agri Products, and Bamboo Forever Co., Ltd.

Connected Retail Market Worth $53.75 Billion By 2022

The global connected retail market size is expected to reach USD 53.75 billion by 2022 according to a new report by Grand View Research, Inc. Increasing adoption of Internet of Things (IoT) across retail sector is expected to drive the connected retail market over the forecast period. IoT offers retailers opportunities in three important areas, the supply chain, customer experience, and new channels & revenue streams. Several retailers have successfully embraced IoT to help customers connect with the next-generation consumers, sophisticated technology, and leveraging connected devices.

Emerging retailing formats such as omni channel retailing are anticipated to fuel industry growth over the next seven years. Omni channel retailing offers a seamless and flexible shopping experience to customers by integrating and aligning channels. It creates opportunities for retailers to capture more sales and increase loyalty and brand awareness.

The widening presence of mobile devices and the expanded use of mobile networks such as e-commerce engines are expected to serve as facilitators for a unified online/offline retailing experience.

However, possibilities of unauthorized access to various IoT applications or breaking into the device connectivity system are expected to challenge the IoT connected devices industry.

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http://www.grandviewresearch.com/industry-analysis/connected-retail-market

Further key findings from the study suggest:

The hardware segment is expected to grow at a CAGR of over 19% over the forecast period. The software segment is expected to witness highest growth over the next seven years owing to increasing number of applications for retail industry. Emerging app-driven hardware and embedded software into connected devices and the capability to monetize such device features and functions may contribute to industry growth. Hardware segment comprises sensors, RFID and gateway components.
Bluetooth LE is expected to witness substantial growth, with a CAGR of over 25% over the forecast period due to significantly low power consumption. Bluetooth Low Energy has a very low transmission frequency, which greatly improves the power consumption. Wi-Fi technology dominated the market with the revenue share of over 32% in 2014.
Managed services segment is contributed to over 40% of the overall global revenue shares in 2014. Implementing these services reduces the IT costs and enables retailers to gain the technical advantage. Retailers are increasingly outsourcing services to reduce risks and focus on its core competencies.
Asia Pacific regional market is expected to grow at a CAGR of nearly 25% over the forecast period. Major manufacturers in the industry are based in China, owing to cheap labor and higher production capacities. Further, China is making heavy investments in IoT industry, which may contribute to market growth.
Key industry participants include Atmel Corporation, ARM Holdings PLC, Cisco Systems, Inc., IBM, Google, Inc., Intel Corporation, NXP Semiconductors N.V.,Microsoft Corporation, PTC, Inc., Softweb Solutions, Inc., SAP AG and Zebra Technologies Corporation.

Talent Management Software Market Size Worth $24.03 Billion By 2025

The global talent management software market size is expected to reach USD 24.03 billion by 2025 according to a new report by Grand View Research, Inc. The talent management software industry is anticipated to undergo a series of changes owing to various factors such as decreasing employment rate, changing work environment, the rise of freelancing and contract work, and a globalized workforce.

The most pertinent of the factors is the advent of new software and technologies, such as big data analytics, social media, and the Internet. Mobile platforms are also revolutionizing some important talent management stages, such as recruitment and learning & training, thus driving competition in the market.

Industry leaders have been providing the products in the market for quite some time now but trends such as transparency, customization, and employee engagement are expected to be at the forefront of the new and upcoming offerings to customers. The increasing use of analytics to map the performances and predict the future outcomes has also had a positive effect on the adaptation to the technology in demand.

Solution integration and the availability of middleware from vendors are also an important step forward for the industry standardization. As the industry strides toward larger adoption and rapid developments in terms of capabilities, many new trends such as Massively Open Online Courses (MOOCs) and social media adherence, for either pre-hire assessment or employee feedback management, are gaining traction in the market.

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http://www.grandviewresearch.com/industry-analysis/talent-management-software-market

Further key findings from the report suggest:

The human resource departments are responsible for decisions concerning talent management systems and are witnessing a shift toward integrated solutions
Organizations, they are in search of platforms to integrate the disconnected systems
As the industry is moving toward digital management and cloud-based applications, there is a looming threat of data breaches and hacking incidents
key players include in the talent management software market are IBM Corp., Oracle Corp., SAP SE, Peoplefluent Inc., CornerStone OnDemand Inc., Haufe Group, Lumesse AS, DelTek Inc., Saba Software Inc., and Halogen Software Inc., among others
The industry may also witness a rise in the number of small companies and start-ups that address the niche markets and provide customized solutions while being susceptible to acquisitions and mergers of smaller firms as well as the entry of technology giants to capitalize on the market opportunities

Quality Management Software Market Size Worth $17.08 Billion By 2027

The global quality management software market size is estimated to reach USD $17.08 billion by 2027, registering a CAGR of 10.1% from 2020 to 2027, according to a new study by Grand View Research, Inc. Quality management software (QMS) is used to better manage and control quality concerns regarding performance, customer satisfaction, and competitiveness of the organization. This is done by controlling the processes as well as products for consistent quality assurance, reducing the quality gap between manufacturing practices and end-product expectations, tracking of deviations, and ensuring compliances. Moreover, owing to the increasing advancements in functionality of solutions with the help of artificial intelligence (AI) and machine learning (ML) tools, the market is anticipated witness rapid growth.

The QMS market is expected to witness tremendous growth due to the increasing demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. Rapid technology advancements in IT and telecom as well as the automation of transportation and logistics industry are driving the market growth. QMS software offers numerous functionalities including handling of non-conformances, out of specification test results, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these capabilities coupled with the reduction in the costs are energizing the adoption of quality management software across a wide range of industries.

The flexibility and mobility offered by quality management software in solutions such as document control and non-conformances’ issue resolving is driving the demand for QMS software. The increasing demand for cloud based QMS solutions due to implied scalability and accessibility is becoming increasingly popular among all industrial sectors. For instance, in July 2019, MasterControl launched a new solution named MasterControl Manufacturing Excellence to help organizations bridge the gap between smart manufacturing and operational excellence by automating the last mile of production.

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https://www.grandviewresearch.com/industry-analysis/quality-management-software-market

Further key findings from the report suggest:

Document control segment is expected to witness phenomenal growth over the forecast period. Compliance to stringent quality standards, rigorous regulations passed by FDA and other global regulations are prime factors for adherence to quality document control processes by the industries worldwide
The cloud segment is likely to grow rapidly during the forecast period. The popularity of cloud technology among cost-sensitive customers and small and medium enterprises is anticipated to boost the adoption of cloud QMS solutions
The small and medium enterprise segment is predicted to and at the highest CAGR from 2020 to 2027. An increase in the number of providers and reduced costs of QMS solutions has pushed its adoption by SMEs. Moreover, the utility of QMS solutions has also helped in process optimization and reduction in overall product costs
The healthcare segment is likely to grow at a rapid pace during the forecast period, owing to rapid regulatory updates and innovation in medical devices vis-à-vis technology trends such as the IoT and analytics are likely to boost the utility of QMS solutions in the forthcoming years

Underwater Robotics Market Worth $6.74 Billion By 2025

The global underwater robotics market size is expected to reach USD 6.74 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a substantial CAGR of 13.5% over the forecast period. Rising adoption of underwater robotics technology across military and commercial exploration applications for intelligence, surveillance, inspection, underwater repair maintenance, navigation and communication, and other operations is anticipated to boost market growth over the forecast period.

The commercial exploration segment held a significant share in the market in 2017. The autonomous underwater vehicles (AUV) segment is expected to gain traction over the forecast period while reaching over USD 1.48 billion by 2025. These vehicles are used in the commercial exploration of oil and gas, military missions, as well as for scientific research activities.

The market growth is attributed to the rising investments in defense sectors across different countries. For instance, in 2016 the United States Department of Defense announced an investment of USD 600 million over the period of 2016 to 2020 for the development of variable payload unmanned undersea vehicles capabilities. This investment was majorly made by the U.S. Navy to improve intelligence, surveillance and rescue operations, acoustic surveillance, mine countermeasure, and anti-submarine warfare operation.

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https://www.grandviewresearch.com/industry-analysis/underwater-robotics-market

The global underwater robotics market accounted for USD 2.52 billion in 2017 and is expected to develop at a CAGR of 13.5% from 2018 to 2025
ROV segment emerged as the largest by type in 2017 and is estimated to reach USD 5.26 billion by 2025
By application, the commercial exploration segment is anticipated to witness the highest CAGR of 14.8% over the forecast period
The Asia Pacific region is estimated to expand at the highest CAGR over the forecast period. Growing investments in autonomous marine vehicles in countries such as China, South Korea, Japan, India, and Australia are expected to drive the region’s growth
Some of the key companies are Oceaneering International Inc.; ECA Group; Atlas Maridan; and Bluefin Robotics Corp.

Smart Elevator Market To Grow At A CAGR Of 14.8% From 2015 To 2022

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.

Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

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http://www.grandviewresearch.com/industry-analysis/smart-elevator-market

Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.

Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.

Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.

Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.

Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.

In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.

Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.