Information Technology & Services

  Nanosatellite And Microsatellite Industry Overview The global nanosatellite and microsatellite market size was valued at USD 2.12 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) exceeding 23.3% from 2022 to 2030. The growing demand for miniaturized satellites across multiple verticals is expected to provide an impetus to market growth. For instance, in November 2021, a Japan-based Epsilon rocket launched nine miniature satellites into orbit in the latest endeavor to encourage educational institutions and businesses to participate in space exploration. The launch of small satellites via heavy vehicles has proved to be quite challenging over the recent years, resulting in the increased demand for small launch vehicles. Earlier, small satellites were launched as an additional payload with larger satellites, which increased launch and cost constraints. The growing demand for small launch vehicles that can overcome these cost constraints culminated ...

  Multi-access Edge Computing  Industry Overview The global multi-access edge computing market size was valued at USD 1.56 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) exceeding 42% from 2021 to 2028. The growing adoption of IoT devices across several industries is expected to drive market growth. The need for faster decision-making in industries such as IT and telecom, manufacturing, transportation and logistics, and datacenters, owing to the generation of the vast amount of data, is encouraging the adoption of multi-access edge computing (MEC) technology. Furthermore, the adoption of MEC offers a safer environment for data transfer and reduces latency, which is further promoting the wide-scale adoption of the technology in enterprises.   Gather more insights about the market drivers, restrains and growth of the Global Multi-access Edge Computing Market   In addition to the high throughput and low latency offered by M...

  Smart Glass  Industry Overview The global smart glass market size was valued at USD 4.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. The emergence of energy-conservation initiatives, such as green buildings and eco-friendly structures, globally is expected to offer promising growth prospects to the market. Administrative support through financial benefits and tax initiatives globally is also stimulating the growth of the market. For instance, the European banks have a new mortgage scheme for green homes, encouraging end-users to adopt energy-saving products, such as smart glass. Smart glass has gained traction in recent years due to its energy-saving properties, thermal and acoustic insulation, and elegant 3D design proposition. With smart glass fitted in place of normal glass into windows, doors, partitions, and skylights, the user has better sunlight control, preventing an increase in indoor temperature...

  Engineering Services Outsourcing Industry Overview The global engineering services outsourcing market size was valued at USD 1.06 trillion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 22.9% from 2021 to 2028. The increasing collaboration between Engineering Service Providers (ESPs) and Original Equipment Manufacturers (OEMs) is expected to emerge as one of the primary factors contributing to the growth in the adoption of engineering services outsourcing (ESO). The globalization of R&D activities, the rising demand for integrating the latest technologies in the product offerings, and the growing need to shorten the product lifecycles and cut costs are also expected to contribute to the growth of the market. The ESO market has been evolving continuously in line with the strong emphasis of the clients on outsourcing various services as part of the efforts to cut costs. The ESO model has also been evolving accordingly to deliver smart solutions ...

  Automated Guided Vehicle Industry Overview The global automated guided vehicle market size was valued at USD 3.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. Automated guided vehicle (AGV) systems assist to move and transport items in manufacturing facilities, warehouses, and distribution centers without any permanent conveying system or manual intervention. It follows configurable guide paths for optimization of storage, picking, and transport functions in the environment of premium space. AGVs are being highly adopted owing to several benefits, such as reduced labor costs, reduced product damage, increased productivity, and scale to support automation processes. These notable advantages are encouraging the transportation and logistics firms to deploy AGVs in order to boost the efficiency of their operations. For instance, in May 2021, AUDI AG stated that they use AGVs in their manufacturing centers which helps...

  Automotive Cyber Security Industry Overview The global automotive cybersecurity market size was valued at USD 1.44 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 21.4% from 2019 to 2025. The growing emphasis on OEMs on autonomous driving and connected car systems have increased the risk of data breaching, thus augmenting the demand for cybersecurity solutions in the automotive market. Moreover, increasing usage of e-mobility across the globe is expected to drive the market. Trends, such as robust connectivity, machine learning, 3D printing, and social network of things, will continue to gain traction. Significant developments in the automotive industry augmenting the use of Battery Management Systems (BMS) and sensors are resulting in a more feasible and viable cybersecurity solution. Hence, technological advancements in autonomous and semi-autonomous vehicles trigger the demand for automotive cybersecurity policies resulting in increasing da...

  Enterprise Governance, Risk & Compliance Industry Overview The global enterprise governance, risk & compliances market size was valued at USD 40.84 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 14.0% from 2022 to 2030. Governance Risk management regulates how an organization can achieve its targets by formulating preventive measures against the financial menace. The implication of compliance helps an organization follow the laid laws, guidance, rules, and procedures. It even refers to the ability that the internal employees of an organization need to follow the policies and procedures.   GRC and EGRC benefit an organization by implicating policies and procedures to mitigate risk and adopt a healthy workflow. Enterprise Governance Risk Compliances regulate an organization by monitoring risk management, controlling risk, and identifying risk hazards that might occur in the critical business environment. EGRC ensures that the c...

  ERP Software Industry Overview The global ERP software market size was valued at USD 50.57 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030. The growth is attributed to factors such as the growing need for operational efficiency and transparency in business processes, increasing demand for data-driven decision-making, and rising adoption of mobile and cloud applications. However, the increasing availability of open-source applications and higher initial investment and maintenance costs are expected to restrain the market growth.   The implementation of ERP software in organizations can reduce inventory costs by 25% – 30% and raw material costs by around 15%. The software ensures a smooth flow of cross-functional information, offering better productivity and decision-making. A rise in the number of SMEs in developing economies such as China, India, and Brazil is expected to boost product demand over the forecast p...

  Digital Marketing Software Industry Overview The global digital marketing software market size was valued at USD 56.52 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 19.1% from 2022 to 2030. The outbreak of the COVID-19 pandemic, which triggered a paradigm shift in the way individuals use different apps, has positively impacted market growth. As such, app developers have been particularly reviewing their advertising set-ups and improving their capabilities to push for more accountability and transparency with partners in the wake of the outbreak of the pandemic and the subsequent economic downturn. For instance, in September 2020, HubSpot, Inc. of the U.S. announced the introduction of new updates and features to its platforms for helping businesses in meeting the challenges posed by the outbreak of the pandemic. The additional features include enterprise sales CRM, an expanded personalization functionality, and scalable contacts pricing mod...

  5G Infrastructure Industry Overview The global 5G infrastructure market size was valued at USD 4.75 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 34.2% from 2022 to 2030. 5G infrastructure is mainly a combination of Radio Access Network (RAN), core network, and backhaul and transport. The backhaul and transport network includes fiber optics or microwave antennas. The growing demand for enhanced bandwidth connectivity with low latency for many mission-critical applications, such as vehicle-to-everything (V2X) and drone connectivity, is estimated to fuel the 5G infrastructure industry growth. Some of the largest economies, such as the U.S. and China, are expected to continue spending aggressively on provisioning healthcare facilities. For instance, the National Health Expenditure Accounts (NHEA) of the U.S. expect the overall healthcare spending in the U.S. to reach more than USD 16.0 trillion by 2030, nearly 32% of GDP. Gather more insights...