Information Technology & Services

  Education Technology Industry Overview The global  education technology market  size is expected to reach USD 429.5 billion by 2030, expanding at a CAGR of 16.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. The process of learning is evolving gradually in line with advances in technology. From virtual classrooms to massive open online courses (MOOCs), the education technology (EdTech) industry is transforming rapidly, thereby leading to an influx of massive investments worldwide. Having realized the potential of leveraging the advances in technology to enhance the process of learning, governments across the world are encouraging the incumbents of the education industry to undertake various initiatives aimed at integrating EdTech into the overall education system. For instance, in November 2021, Bengal Government partnered with EdTech startup Schoolnet India Limited, an EdTech startup, to drive the career development program and promote digi...

  Respiratory Protective Equipment Industry Overview The global  respiratory protective equipment market  size is expected to reach USD 24.69 billion by 2030, registering a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. Stringent government regulations and the emergence of the COVID-19 pandemic leading to awareness among consumers is expected to boost the product demand over the forecast period. The emergence of new biological viruses, such as COVID-19, Middle East Respiratory Syndrome (MERS), and Severe Acute Respiratory Syndrome (SARS), along with a shift in a trend toward proactive measures in the healthcare sector is expected to propel the product demand over the forecast period.   The rising awareness, in the post-pandemic scenario, about infectious biological hazards is likely to influence the market growth. Moreover, the use of respiratory protection, such as Powered Air-purifying Respirator (PAPR) and Self-Con...

  U.S. Long Term Care Industry Overview The  U.S. long term care market  size is expected to reach USD 779.4 billion by 2030, expanding at a CAGR of 5.97% based on a new report by Grand View Research, Inc. High prevalence of target diseases, especially Alzheimer’s, heart diseases, Parkinson's disease, and other dementias, in the U.S. is expected to drive the market growth. According to the CDC, 6 of 10 adults in the U.S. have a chronic disease. The increasing geriatric population, rising healthcare costs, and an increasing number of nuclear families are among the key factors driving the regional market. Furthermore, rapid technological advancements and easy availability of Medicare and Medicaid & private insurance are likely to drive the market growth.   The State & Federal Governments of the U.S. are taking initiatives for  long-term care . According to New York State (NYS) Public Health Law Article 21-A, it is mandatory for a facility to provide pne...

  U.S. Contraceptive Industry Overview The  U.S. contraceptive market  size is expected to reach USD 12.0 billion by 2030 registering a CAGR of 4.70%, according to a new report by Grand View Research, Inc. Improving access and awareness regarding Long-Acting Reversible Contraceptives (LARCs) and the effectiveness and convenience of using these products are expected to drive the growth of the industry. The Guttmacher Institute reported that 60% of women belonging to the reproductive age use contraception in the U.S. Use of hormonal contraceptives other than the birth control pill has significantly increased in married women.   The increasing availability of contraceptives in the U.S. has improved several aspects of society such as education, career opportunities, and poverty for women. Access to modern methods of contraception has significantly improved career opportunities and allowed women to earn wages at par with men. Moreover, it has also reduced the number of...

  E-commerce Fulfillment Services Industry Overview The global  e-commerce fulfillment services market  size is anticipated to reach USD 198.62 billion by 2030, growing at a CAGR of 9.5% over the forecast period, according to a new report by Grand View Research, Inc. The rapid penetration of internet services and a resultant rise in the number of online shoppers is the major factor driving the demand for e-commerce fulfillment services worldwide. Consumer expectations with regards to delivery time, shipping speed, and associated costs are changing rapidly. As per the GVR analysis, the major reason for consumers abandoning online shopping carts include delayed shipping. Therefore, established merchants, such as Amazon.com, Inc., have started delivering orders in the shortest turnaround time, in some cases within an hour across large cities.   This has been possible only because of the strategic location and positioning of fulfillment service centers. The growing de...

  Interactive Kiosk Industry Overview The global  interactive kiosk market  size is expected to reach USD 52.74 billion by 2030, registering a CAGR of 7.1% over the forecast period, according to a new study conducted by Grand View Research, Inc. Increasing consumer involvement in the purchase process and an extensive focus on customized service delivery by industry players are the major factors driving the adoption of interactive kiosks. The geographical expansion and service enhancement using interactive kiosks enable companies to offer convenient, swift, and hassle-free service to customers with enhanced safety and security. The North American regional market dominated the global market in 2021.   The region’s growth can be attributed to incumbents of the retail and BFSI verticals, who continue to deploy interactive kiosks as part of their efforts to enhance the consumer experience. However, the Asia Pacific regional market is expected to register the fastest CA...

  Third-party Logistics Industry Overview The global  third-party logistics market  size is expected to reach USD 1,998.73 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The advent of new technologies is changing the 3PL industry dynamics. The advanced data collection capabilities, warehouse automation, and digitalization of the entire supply chain are enabling companies to adopt a consistent innovative, customer-centric, and agile approach. As a result, 3PL companies are providing technologically driven services by investing in blockchain solutions, mobile technologies, and 3PL software to gain a competitive advantage in a fiercely competitive marketplace.   The Internet of Things (IoT) and cloud-based logistics management solution turn the data into actionable value-added information, which can shape the strategic decision-making process and increase productivity. Some of the capital-intensiv...

  Optical Character Recognition Industry Overview The global  optical character recognition market  size is expected to reach USD 33.44 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 15.4% from 2022 to 2030. Digitalization plays a critical role in changing the way organizations operate, and it has helped companies improve the efficiency of their business processes. Enterprises invest large amounts in technologies that can help them digitalize their work processes and increase productivity. Since data is a critical element for an organization, adopting technologies such as optical character recognition (OCR), which enables users to convert text data in different types of documents and images into editable or accessible formats, has increased. OCR solutions are integrated with various technologies such as robotic process automation and Artificial Intelligence (AI) to enhance their capabilities. ...

  Artificial Intelligence Industry Overview The global  artificial intelligence market  size is expected to reach USD 1,811.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 38.1% from 2022 to 2030. Artificial Intelligence (AI) denotes the concept and development of computing systems capable of performing tasks customarily requiring human assistance, such as decision-making, speech recognition, visual perception, and language translation. AI uses algorithms to understand human speech, visually recognize objects, and process information. These algorithms are used for data processing, calculation, and automated reasoning.   Artificial intelligence researchers continuously improve algorithms for various aspects, as conventional algorithms have drawbacks regarding accuracy and efficiency. These advancements have led manufacturers and technology developers to focus on developing standard algorithm...

  Architectural Services Industry Overview The global  architectural services market  size is anticipated to reach USD 648.12 billion by 2030, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.4% from 2022 to 2030. The rapid urbanization in countries such as Brazil, India, and South Korea is resulting in an increasing demand for smart homes, which is a major factor driving the growth of the market. Moreover, the rising commercial and industrial building restoration activities across the globe are expected to support the increasing demand for planning, designing, and consulting services for efficient work operation. This, in turn, is expected to contribute to market growth. Sectors such as industrial, healthcare, and hospitality widely adopt architectural services. Architecture firms assist end-users at every stage of the process, offering them blueprints of the building structure to provide a detailed spatial repre...

  Private 5G Network Industry Overview The global  private 5G network market  size is expected to reach USD 36.08 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 47.5% from 2022 to 2030. Significantly growing demand for ultra-reliable low-latency connectivity with an extremely secure network across several mission-critical applications, such as public safety, is expected to boost the deployment of private 5G networks during the forecast period. Moreover, a wide range of industries, including manufacturing, oil and gas, mining, and energy and utility, are investing a massive amount in deploying private 5G telecom services to enhance their overall productivity and operational efficiency. As a result, it is expected to foster market growth from 2022 to 2030.   Private 5G Network Market Segmentation Grand View Research has segmented the global private 5G network market report based on component, frequency, ...

  Broadband Services Industry Overview The global  broadband services market  size is estimated to reach USD 875.1 billion by 2030, according to the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.6% from 2022 to 2030. The rapidly escalating demand for broadband services due to their ability to offer higher date access to the internet using a wide spectrum of technologies is a major propeller of market growth of the market. The market is positioned to register strong growth over the forecast period, driven primarily by the steep demand in the market. The high demand is supported by proactive government initiatives, technological advancements for improved user convenience, consumer awareness, and increased usage of devices-such as mobile phones, tablets, MIDs, and eBooks-requiring a broadband connection. The internet speed and widespread availability of broadband services are notable growth-contributors. Broadband Services Market ...

  3D Printing Industry Overview The global  3D printing market  size is expected to reach USD 76.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.8% from 2022 to 2030. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM) as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object. 3D Printing Market Segmentation Grand View Research has segmented the global 3D printing market report based on component, printer type, technology, software, application, vertical, material, and region: Based on the Printer Type Insights, the market is segmented into Desktop 3D Printer, and Industri...

  Smart Cities Industry Overview The global smart cities market size was valued at USD 1,090.64 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 24.2% from 2022 to 2030. The increasing urbanization, need for efficient management of resource utilization, public safety concerns, and increasing demand for an environment with efficient energy utilization are the major growth drivers. Due to the COVID-19 pandemic, countries followed strict lockdowns and mobility constraints to avoid the spread of the virus. During the pandemic, the dependence of global economies on urban areas and the importance of public healthcare in smart city initiatives have been brought to light. However, organizations are trying to implement emerging technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) to overcome the challenges faced during the pandemic. According to reports of World Urbanization Prospects published in 2019, by the UN Department...