Tag: Virtual Reality

Printed And Chipless RFID Market Worth $15.3 Billion By 2022

The global printed and chipless RFID market is expected to reach USD 15.3 billion by 2022, according to a new study by Grand View Research, Inc. Development of affordable tags owing to simplified manufacturing technology and decreased manufacturing time have contributed significantly to chipless RFID market growth over the forecast period. Compatibility with existing infrastructure with equal efficiency as chip-based tags saves the additional cost of new system installation.

Suppliers have realized the need for efficient solutions in various applications such as smart cards, supply chain, pharmaceutical, and retail. The pharmaceutical industry is replacing chip-based tag with chipless tags due to high unit prices, which is expected to favorably impact the industry.

Chipless RFID provides various solutions including anti-counterfeiting and asset tracking to avoid theft in retail. Government initiatives for e-passports, increasing electronic transactions, dynamic conditions in the aviation industry, and increased revenue by customer delights are some of the drivers expected to favorably impact chipless RFID market growth.

High initial cost of system implementation is expected to pose a challenge to technology adoption. Implementation cost is anticipated to decrease over the next few years owing to technological advancement and increase in players offering solutions at competitive prices.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/chipless-rfid-radio-frequency-identification-market

Further key findings from the report suggest:

  • Growth in public transit industry is expected to drive printed and chipless RFID market demand in transportation applications. In these applications, use of contact and contactless smart cards increases the operational efficiency of the overall transportation system and saves travel time. Contact-based cards need to have a physical contact with the reader; however, they can be placed in close proximity of the reader to initiate the communication process.
  • In retail, the technology is used for stock tracking, supply chain management, check product availability, reverse logistics and reducing loss due to shrinkage. The segment contributed to over 25% of the global revenue in 2014.
  • Government departments in collaboration with other agencies have initiated research and development projects. Asia Pacific printed and chipless RFID market is expected to exhibit CAGR of over 30% from 2015 to 2022, primarily due to high growth prospects in regions such as China and India.
  • Zebra Technologies acquired Motorola Solutions Enterprise Business in October 2014. Through this acquisition, Zebra has gained Motorola’s mobile computing, bar coding, card printing, cloud-based devices, and RFID hardware businesses. The global industry comprises other notable players include Impinj Corporation, Alien Technology, Intermec, and TAGSYS.
  • Players in the industry practice high degree of innovation to offer unique solutions. Key competitive factors include the design, breadth, and quality of products and services, warranty coverage, product and service availability, product performance, brand recognition, company relationships with customers, and go-to-market channel partners and company reputation.

Software Defined Networking Market Size Worth $70.4 Billion By 2024

The global software defined networking market size is estimated to reach USD 70.41 billion by 2024, according to a new report by Grand View Research, Inc. Software-defined networking (SDN) has witnessed a surge in its popularity in recent years and rightly so owing to the myriad benefits it offers over the existing legacy infrastructure. The SDN solutions provide centralized control and operational capabilities, which help the network administrators and engineers to respond quickly and efficiently. The SDN architecture comprises different tools and techniques, such as the controller, switches forwarding, and backplanes, among others, that make the systems more agile and flexible.

SDN acts as a bridge between the applications and routers and switches to relay information and data between them. As they provide a virtualized view of the network and storage, the SDN solutions help in deploying applications and services at a fast pace. The demand for SD solutions is anticipated to be on the rise as there is a growing necessity for the increasing operability and bandwidth of the carrier networks for service providers as well as large enterprises. The increasing data traffic due to increased mobile devices, social media cloud computing, and even the Internet of Things (IoT) is expected to propel the data traffic in the coming years, which will create a steep demand for enhanced networks.

The CapEX and OpEX reduction afforded by the software-defined networks, coupled with the pay-as-you-grow model, is helping the demand growth. The increasing applicability in the data center infrastructures and campus networks, as well as the presence of open source automation tools such as OpenStack, will fuel the market growth in the coming years. SD-WAN and convergence of SDN, NFV, and OpenFlow are the upcoming trends to watch for that may shape the developing industry.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/software-defined-networking-sdn-market-analysis

Further key findings from the report suggest:

  • Software defined networking is anticipated to find Wide Area Networks (WAN) as the major use case in the coming years. Not only has SD-WAN been in the limelight of the SDN vendors for a long period now but the industry is also ripe for the adoption of the software-defined WAN for enterprises that are looking to replace the existing MPLS systems that had been de facto for most major organizations.
  • The software-defined networking market is dotted by some major players including VMware, Alcatel-Lucent (Nokia), International Business Machines, Cisco Systems, and Juniper. Other prominent industry players are Plexxi, NEC Corporation, Google Inc., Huawei Corp., Hewlett-Packard, Brocade Communication Systems, Big Switch Networks, and AT&T, among others. The emergence of new companies that cater to specific niche clients or provide capabilities targeting particular functionalities is also on the rise.
  • The new product development, industry players’ concentration on research and development activities, and developing cost-effective products for a differential industry are the major strategic plans adopted by the industry players. Also, there has been an increasing focus on the partnership and collaborations in the industry. For example, in March 2015, Brocade announced that it had completed the acquisition of the SteelApp business unit from Riverbed Technology. The SteelApp product line helped the Brocade data center deployments and enhanced the Vyatta Platform offering for the NFV and SDN solutions.

Legal Process Outsourcing Market Worth $35.9 Billion By 2025

The global legal process outsourcing market size is projected to reach USD 35.9 billion by 2025, expanding at a CAGR of 31.8% from 2019 to 2025, according to a new report by Grand View Research, Inc. The growth can be chiefly attributed to the emergence of alternative legal service delivery models and virtual law firms.

Technological advancements and innovations in the legal industry are expected to offer new growth avenues in the sector, helping law firms inculcate a transparent relationship with clients. Law firms are deploying Natural Language Processing (NLP) and document automation capabilities to fall in line with the reinvention of the legal industry.

Artificial Intelligence (AI) is another factor that has taken the LPO industry to a new level. Software equipped with AI capabilities is garnering utmost importance among lawyers and firms to save their time. Document production and proofreading of documents are efficiently done with the help of automation software. Use of team collaboration software is further streamlining the execution of all documentation processes. All such technological developments have greatly aided lawyers by decreasing costs and increasing convenience.

Electronic discovery (e-discovery) services have grown in prominence, which can be attributed to amendments by the Federal Rules of Civil Procedure, making Electronically Stored Information (ESI) such as e-mails, e-calendars, and voicemails discoverable on handheld devices in litigation. The development of ESI will reduce the complexity and cost of e-discovery processes and is expected to simplify large-scale complex litigation processes.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/legal-process-outsourcing-lpo-market

Further key findings from the report suggest:

  • On-shore outsourcing is expected to grow at a significant rate over the forecast period, owing to benefits such as enhanced data security and sophisticated service delivery models
  • The litigation support segment is expected to register a CAGR of more than 34.0% over the forecast period
  • Majority of the LPO providers are emphasizing on maintaining their locally-registered office in U.S. and setting up back offices in Asia Pacific in order to strengthen their foothold in the global market
  • Key players in the legal process outsourcing (LPO) market include Clairvolex; Clutch Group; Mindcrest Inc.; and Pangea3. 

Smartwatches Market Size To Reach $19.62 Billion By 2020

The global smartwatches market is expected to reach USD 19.62 billion by 2020, according to a new study by Grand View Research, Inc. Growing companion device demand is expected to give impetus to demand for smartwatches. Increasing percentage of health/fitness conscious population has resulted in high demand for wearable fitness monitoring and tracking devices, including smartwatches.

The number of industry participants is expected to increase manifold over the next six years. In addition to startups, the expected entry of established companies is estimated to significantly fuel market growth. Ensuring usability and visual appeal is a critical factor for enabling product adoption on a global level. Furthermore, managing the tradeoff between battery life and performance is critical for profitability.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/smartwatches-market

Further key findings from the study suggest:

  • Global smartwatch shipments were close to 2 million units in 2013, and are expected to reach 135.3 million units by 2020, at a CAGR of 53.5% from 2014 to 2020.
  • High-end smartwatches accounted for approximately 90% of the global market in 2013. This segment is expected to lose market share to the mid-end and low-end segments over the forecast period. This can be attributed to the expected trend of decreasing selling prices with a growing number of manufacturers. Majority of consumers have been reluctant to invest in premium priced products on account of unclear benefits and lack of a value proposition.
  • North America accounted for the highest market share of 35% in 2013; this is mainly due to higher purchasing power as well as increasing demand for fitness tracking equipment. Asia Pacific is expected to be the fastest growing regional market over the next six years. The regional market is expected to be driven by high smartphone proliferation and usage of Internet services.
  • Industry participants include Samsung Electronics (Galaxy Gear), Pebble, Sony Corporation, Google Inc. and Qualcomm Inc. among others. R&D activities to drive innovation have been the key growth strategy for these companies. Established companies are expected to benefit from growing smartwatches demand, and drive revenue generation over the forecast period.

Facial Recognition Market Size Worth $9.93 Billion By 2027

The global facial recognition market size is expected to reach USD 9.93 billion by 2027, accordingto a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.5% from 2020 to 2027.

Facial recognition is a contactless biometric solution that is a critical factor contributing to the market growth. Contactless solutions enable easy deployment in consumer devices. It is also very simple and convenient to use, further contributing to rising adoption. Apart from individual identities, the technology has an ability to gather demographic data on crowds; thus, increasing its usability. Such factors are anticipated to drive the growth.

Increasing security needs in government sectors for employee attendance and identification is expected to be a key driver for the facial recognition market over the forecast period. Technology advancements such as cloud-based services and 3D recognition systems are further expected to fuel the overall adoption of facial recognition technology. Rising demand for data security has driven the adoption of technology across various organizations. Increased usage of personal devices as part of the BYOD policy in the IT sector has furthermore contributed to this growth.

Face recognition technology is less prone to security breaches as compared to traditional authorization methods as it requires human in physical form to provide any kind of access, thereby providing high level of security. For instance, In February 2020, Aware, Inc. announced that its software solution, Knomi, had been chosen by several leading banks in Latin America. The software solution aims to enhance the authentication and security for their mobile applications for clients all over the world. Clients will then be able to gain access to using facial recognition and authentication, replacing passwords, by logging onto their mobile banking application.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/facial-recognition-market

Further key findings from the study suggest:

  • Face recognition is very easy to deploy and implement. It also provides a quick face detection and match process for identification/verification. These factors have substantially contributed to rapid adoption
  • The facial analytics segment is expected to portray high CAGR of 20.8% over the projected period. Face recognition by using facial analytics provides high accuracy because this technology is relatively insensitive to changes in expression thereby providing accurate results
  • Asia Pacific is expected to witness significant growth over the forecast period, owing to the rapid adoption of the technology in developing economics
  • The key facial recognition market players areAware, Inc.; FacePhi.; NEC Corporation; IDEMIA; TECH5; Onfido; Ayonix Corporation; Gemalto NV; Cognitec Systems GmbH; Precise Biometrics; NtechLab; and Fujitsu

Field Programmable Gate Array Market Size Worth $18.8 Billion By 2027

The global field programmable gate array market size is anticipated to reach USD 18.8 billion by 2027, registering a CAGR of 9.7% over the forecast period, according to a new report by Grand View Research, Inc. The increased adoption of field programmable gate array (FPGA) across networking, data center, and Internet of Things (IoT) is projected to drive the industry growth over the forecast period.

Growing application of the FPGAs in the aerospace and military sector to develop drone systems for flight control, sensor interfacing, and image processing is driving the industry growth. Flash-based field programmable gate arrays are resistant to radiation-induced configuration shocks and also offer efficient functionality at high altitudes. The flash segment is anticipated to witness a substantial growth over the forecast period, owing to their abilities of consuming less power and delivering security, safety, and reliability throughout the design and deployment process.

Companies are largely seen to be leveraging the power of field programmable gate arrays to develop Artificial Intelligence (AI) based solutions for automotive applications. For instance, in June 2018, Xilinx, Inc. collaborated with Daimler AG to help the deep learning professionals from the Mercedes-Benz R&D centers for developing AI algorithms on the Xilinx adaptable acceleration platform. The automotive segment is likely to fully exploit the capacities of the FPGAs for deploying neural networks for intelligent vehicle systems and optimizing battery management, power conversions, and electric motor control systems of the Electric Vehicles (EV) and Hybrid-Electric Vehicles (HEV).

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

Further key findings from the report suggest:

  • The FPGA market is anticipated to witness a noteworthy growth over the forecast period owing to increased usage of FPGAs in EVs, vehicle networking and connectivity, self-driving cars, and automotive infotainment.
  • The SRAM technology segment is expected to witness significant growth over the forecast period owing to its features including greater logic density, better performance, non-volatility, and its manufacturing simplicity.
  • The FPGAs used in the consumer electronics sector generated a revenue of over USD 1.0 billion in the year 2019, due to growing adoption of digital displays, televisions, cameras and camcorders, eReaders, and set-top boxes for households.
  • The Asia Pacific region is expected to witness a substantial growth from 2020 to 2027 due to increase in sale of consumer electronics, especially smartphones, in countries like China and India, and growing number of data centers in the region.
  • Xilinx, Inc.; Intel Corporation, Microsemi Corporation; Texas Instruments; Lattice Semiconductor Corporation; and Taiwan Semiconductor Manufacturing Company are some of the key players in the FPGA market.

Intelligent Virtual Assistant Market Size Worth $45.1 Billion By 2027

The global intelligent virtual assistant market size is expected to reach USD 45.1 billion by 2027, expanding at a CAGR of 34.0%, according to a new report by Grand View Research, Inc. The growing use of smart speaker-based technologies for home automation and digitization in the retail sector has led to the implementation of conversational e-commerce is the major driving factor of the market. Intelligent virtual assistants (IVAs) help consumers to find relevant information and perform tasks with actionable advice. The inputs received from IVAs assist the organizations in designing and developing various marketing strategies and implementing those in real-time. Many retail stores have implemented IVAs in their processes, adding a new dimension to their customer engagement, further enhancing the customer shopping experience. For instance, Walmart customers can shop for groceries just by talking to the intelligent virtual assistant in their smartphones. Development in voice recognition and speech technologies has been the driving factor behind the proliferating growth of the market.

Chatbots and smart speakers listen, recognize, and respond to the individuals’ requirements and assist them in various tasks. Thus, the devices are gaining popularity among the consumers for a variety of functions such as calling, shopping, reminders, setting the alarm, music streaming, and consulting. Amazon Alexa and Google Home accounted for a majority of the intelligent virtual assistant (IVA) market share of the smart speaker segment in 2019. Chatbot has enabled ease of accessibility in banking, retail, education, e-commerce, travel, and hospitality sectors.

IVA assists in simplifying human efforts in making processes efficient, which is highly beneficial for all organizations. The IVA implementation has resulted in achieving productivity, work quality, and has reduced the risk in scaling operations. Thus, there has been an increased adoption of the device across several applications, including retail, BFSI, healthcare, automotive, consumer electronics, IT and Telecom, education, and travel and hospitality. IVA providers are engaged in executing organic and inorganic growth strategies such as new product launch, expansion, collaboration, and partnership. For instance, in 2018, Transcom and Creative Virtual entered into a partnership to provide virtual agents and chatbot solutions in the artificial intelligence domain.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/intelligent-virtual-assistant-industry

Further key findings from the report suggest:

  • The smart speakers product segment emerged as the fastest growing segment over the forecast period
  • Text to speech technology emerged as the largest segment in 2019 and is estimated to generate revenue over USD 27.1 billion by 2027
  • North America held the largest revenue share in the intelligent virtual assistant market in 2019, whereas Asia Pacific is anticipated to witness the highest CAGR of 35.3% over the forecast period
  • Key players include Amazon.com, Inc.; Google Inc.; IBM Corporation; Nuance Communications; eGain Corporation. The players accounted for the majority share of the overall market in 2019.

Music Streaming Market Size Worth $ 76.9 Billion By 2027

The global music streaming market size is estimated to reach USD 76.9 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.8% from 2020 to 2027. The growing adoption of digital music services is one of the key factors driving the market. Thanks to the flexibility and ease of use offered by various music applications. The industry has witnessed a notable shift from traditional viewership to online content consumption over the last decade. This is owing to the availability of vast databases of audio and video songs across streaming platforms.

The increasing integration of technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Extended Reality (ER) is expected to support the growth of the market over the forecast period. For instance, ML-integrated music platforms analyze the artists, songs, and albums a user listens to most frequently to discover what appeals to them. Based on the analysis, daily playlists are created and related tracks are suggested, improving search engines, and providing a better understanding of consumer preferences. These technologies are further expected to bring advanced capabilities, such as song mixing, automated one-touch personalized playlists, and voice assistance, to the platforms.

Furthermore, the industry is expected to witness significant growth amidst the COVID-19 pandemic globally, as most of the outdoor leisure activities are on a standstill. The download and usage of music streaming apps have been on the rise since lockdowns were imposed across several countries severely affected by the pandemic. For instance, Spotify witnessed an upsurge in its monthly active users by 29.0% year-on-year to 299 million users in the second quarter of 2020. The increasing rate of digitalization and the rise in the adoption of digital music are fueling the industry’s growth.

The app segment dominated the market and accounted for the largest revenue share in 2019. This segment is expected to continue its dominance over the forecast period. This is attributed to the availability of thousands of soundtracks on applications that can be streamed for free. Users can also purchase selective songs available on these applications.

The audio segment dominated the market and accounted for the largest revenue share in 2019. This is attributed to an increasing number of commercial end-users including pubs, restaurants, cafes, and gymnasiums, who play songs in their commercial places for entertainment. Rising consumer preference for listening to songs while exercising, commuting, working, and doing household chores is driving the segment.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/music-streaming-market

Further key findings from the study suggest:

  • Growing preference for on-demand music services on platforms such as Spotify, Apple Music, Tidal, SoundCloud, and Bandcamp is likely to drive the industry over the forecast period
  • The video content segment is expected to witness considerable growth, registering a CAGR of nearly 19.0% over the forecast period
  • Consumers are seen to be favoring the usage of music apps due to their user-friendly interfaces, advancements in smartphones, and handiness for listening to songs
  • The commercial end-use segment is anticipated to capture nearly 40.0% of the revenue share by 2027
  • In the Middle East and Africa, the market is likely to witness a CAGR of over 21.0% from 2020 to 2027

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

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

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

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

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

Further key findings from the study suggest:

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

Action Camera Market Size Worth $9.6 Billion By 2025

The global action camera market size is expected to reach USD 9.6 billion by 2025, expanding at a revenue-based CAGR of 16.7%, according to a new report by Grand View Research, Inc. A shift in consumer trends and demand for technologically advanced action cameras is likely to induce the market growth throughout the forecast period. 4K and above in parallel with high definition image resolution have made a huge difference to consumer perception about the camera industry in the recent years. For instance, display manufacturers are now focusing on providing adjustable contrast features for images with effective brightness.

Entry level pricing and consumer demand for latest technology are the major driving factors as the industry is progressing in terms of resolution, image quality, and enhanced VR aspects. Demand for 4K resolution in action cameras is accelerating owing to the increased sale of Ultra HD variants in the past few years. It is also anticipated that the adoption of 4K display technology will outpace the demand for Ultra HD technology in the forthcoming years. Such consumer buying patterns will enable manufacturers to produce massive units of digital media.

Recently, AKASO unveiled EK7000 Pro 4K waterproof action camera that involves adaptable view angle, auto image stabilization, and a wireless remote control. It is highly ideal for water sports to produce high quality images in the diving mode in underwater scenarios. The company has made the product available for consumers on Amazon.com and Amazon.co.uk at an attractive price. EK7000 Pro 4K exhibits features such as upside down and loop recording that is capable of recording in outdoor conditions and producing sensitive evidence in case of insurance claims.

Asia Pacific is likely to witness a steady growth owing to rise in demand for action camera with advanced lens and resolution features. Major factors triggering the demand for these devices are increasing expenditure on leisure, rising disposable incomes, adventure and sports activities, and the vast popularity of social media channels. Moreover, commercial availability of varieties of cameras along with growing presence of retail channels and e-commerce is also propelling the regional demand over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/action-camera-market

Further key findings from the report suggest:

  • Ultra HD segment is estimated to register remarkable growth owing to growing emphasis of the customers on image quality and resolution of the videos captured
  • Retail channels accounted for highest market share in 2018 owing to change in consumer trends and high reliability for aftermarket sales service
  • The action cameras are being increasingly used for capturing the actions and adventures of surfing, skiing, skateboarding, climbing, skydiving, biking, bicycle racing, among other sports, hereby supporting the growth for the sports segment
  • Action cameras are experiencing a surge in demand by professionals for capturing crucial moments of their adventures and sharing them on social media platforms with their followers
  • Asia Pacific is anticipated to register higher growth in the market owing to increasing number of sports leagues and tournaments in the region
  • Some of the key players mentioned are GoPro, Inc.; Sony Corporation; Nikon Corporation; Garmin Ltd.; SJCAM; YI Technology; and SZ DJI Technology Co., Ltd.