According to a new report published by Allied Market Research, titled, “Automation Testing Market Statistics ," The automation testing market was valued at $25.7 billion in 2022, and is estimated to reach $123 billion by 2032, growing at a CAGR of 17.1% from 2023 to 2032.
The adoption of agile and DevOps methodologies is reinforcing the importance of continuous testing and the integration of automation testing into the software development life cycle. Further, the increasing complexity of software applications and systems demands comprehensive and efficient testing is fueling the demand for automation testing market. Automation testing tools and frameworks have evolved to support a wide range of technologies, including web, mobile, cloud, and IoT applications. This adaptability has made automation testing indispensable, particularly in industries like healthcare, finance, and e-commerce, where stringent regulations and data security requirements necessitate rigorous testing and validation. Moreover, the integration of artificial intelligence (AI) and machine learning (ML) into automation testing is driving the automation testing market growth. These technologies are being used for test case generation, predictive analytics, and intelligent automation of repetitive testing tasks. AI-driven solutions enhance testing efficiency and help identify potential issues before they become critical, contributing to software reliability.
Furthermore, the global automation testing market is in its developing phase, and exhibits high growth potential, due to rise in implementation of advanced technologies such as artificial intelligence (AI) and machine learning (ML). In addition, increase in partnerships are expected to promote the automation testing market growth in future. For instance, in September 2023, GameDriver Inc., the premier automated testing solution for gaming and XR experiences, and Kobiton, Inc., the leading provider of mobile testing solutions, have announced a strategic partnership aimed at elevating the standards of game testing and quality assurance within the dynamic and ever-evolving gaming industry. The partnership will offer a unified solution that streamlines testing workflows by enabling mobile developers using game engines such as Unity and Unreal Engine to easily test their apps and games using GameDriver’s automated testing solution.
Moreover, many automation testing expanded their geographical presence to expand their customer base and gain more profits. For instance, in June 2023, Microsoft opens a test lab in Tallinn to ensure that the software at Microsoft works correctly across all the operating systems in use, it is necessary to constantly check that the new programs are working properly. Further, it allows developers can test code at different stages, whether it’s the beginning of a project or a finished user interface.
By component, the solution segment acquired a major automation testing market share in 2022. This is attributed to the fact that automation testing solutions are increasingly incorporating AI and machine learning capabilities. AI is used for intelligent test case generation, predicting potential issues, and self-healing tests, making the testing process more efficient and effective.
Region-wise, Asia-Pacific is expected to grow significantly in automation testing market during the forecast period. This is attributed to the fact that the growth of e-commerce platforms and mobile applications in Asia-Pacific has driven the need for specialized testing solutions for web and mobile. Automation testing is crucial for ensuring a seamless user experience. Further, automation testing providers are increasingly integrating artificial intelligence (AI) and machine learning into their solutions. AI is used for test automation script generation, predictive analytics, and intelligent test case selection.
While the pandemic led to economic uncertainties and budget constraints, businesses realized that automation testing could help reduce operational costs in the long run by minimizing manual testing efforts and improving software quality. As a result, organizations in various sectors have increased their investments in automation testing to ensure business continuity and better prepare for future challenges. Further, the pandemic exposed the vulnerabilities in global supply chains, prompting the manufacturing and logistics sectors to reevaluate and enhance their operations. Automation testing played a key role in optimizing supply chain processes, validating the performance of logistics software, and enabling predictive maintenance of equipment, thereby increasing efficiency and reducing disruptions. Thus, these factors promoted the growth of the automation testing industry during the pandemic.
The key players operating in the automation testing market analysis IBM, Apexon, Accenture, Cigniti Technologies, Capgemini, Microsoft, Tricentis, Keysight Technologies, Sauce Labs Inc., and Parasoft. These players have adopted various strategies to increase their market penetration and strengthen their position in the automation testing Industry.
According to a new report published by Allied Market Research, titled, “Digital Twins in Automotive Market," The digital twins in automotive market size was valued at $2.2 billion in 2022, and is estimated to reach $34.6 billion by 2032, growing at a CAGR of 32.6% from 2023 to 2032.
North America currently dominated the digital twins in automotive market in 2022. The region is home to numerous key automotive manufacturers and technology companies, which has contributed to the rapid adoption of digital twin technology. Europe is the second largest market for the green logistic in 2022. Europe is known for its robust automotive manufacturing base, including major players in the industry. This foundation provides a conducive environment for the adoption of digital twin technology, as companies strive to enhance their competitive edge and operational efficiency.
Europe, particularly Germany, has been at the forefront of Industry 4.0 and smart manufacturing initiatives. Digital twins play a vital role in these efforts by enabling real-time monitoring, predictive maintenance, and data-driven decision-making across the automotive value chain. To offer these beneficial features, Germany-based digital twins developers joined forces with tech companies. For instance, in October 2022, SAP SE announced a partnership with Otonomo Technologies Ltd. for integration of Otonomo Smart Mobility Data Platform with SAP Digital Vehicle Hub. The integration enables the creation of digital twins of vehicles or vehicle components, offering a comprehensive view of vehicle lifecycle data. This collaboration between Otonomo and SAP may empower businesses to gain valuable insights and optimize their operations in the mobility sector. In addition, the collaboration aims to personalize the user experience by adapting to frequently visited destinations, including EV charging stations. Thus, numerous software and automotive companies in Europe expanded their presence globally and increased revenue from digital twins in automotive market.
System digital twin is a major segment of digital twins in automotive market. One of the primary drivers for the system digital twin segment of the digital twins in automotive market is increase in adoption of connected and autonomous vehicles, which enable real-time monitoring, diagnostics, and predictive maintenance of complex automotive systems.
Moreover, software providers focus on the development of digital twins for virtual testing. For instance, in April 2022, rFpro, a software specialist based in the UK, announced that it started development of a precise digital replica of the handling track of Nardò Technical Center in Italy. This virtual model aims to provide a realistic representation of the track, allowing vehicle manufacturers to expedite the development of next-generation electric vehicle platforms. By utilizing the digital twin, manufacturers may conduct comprehensive virtual testing and simulations within a fully representative virtual environment.
Furthermore, AI-powered digital twins enable predictive maintenance capabilities in the automotive industry. By analyzing real-time data from sensors embedded in vehicles, AI algorithms may detect anomalies, predict potential failures, and schedule proactive maintenance. This approach helps automotive manufacturers and service providers optimize maintenance schedules, reduce downtime, and improve overall operational efficiency.
Moreover, digital twin solution provider expanded product portfolio powered by AI. For instance, in October 2022, Altair Engineering Inc., a prominent global provider of computational science and AI solutions, launched a comprehensive digital twin solution. This solution offers highly connected and cross-functional capabilities, making it suitable for deployment at any stage of a product's lifecycle. Digital twin solution by Altair is designed to enhance product development and optimization by providing advanced simulation and AI-driven capabilities.
In addition, automotive manufacturers adopt digital twins to improve performance of electric vehicle (EVs). For instance, in May 2022, Hyundai Motor Group conducted a pilot program in partnership with Microsoft Korea to validate the efficacy of digital twin technology in enhancing the performance of EV batteries. The collaborative initiative aims to demonstrate the capability of digital twins to accurately predict the service life of individual EV batteries and optimize their overall performance. This project incorporates advanced technologies such as artificial intelligence (AI), machine learning (ML), and physical models to analyze driving data and other pertinent factors that influence battery longevity. Thus, the digital twins in automotive market is expected to witness steady growth as digital twins offer automobile manufactures advanced monitoring and performance testing features.
COVID-19 Pandemic Impact
In the automotive industry, the COVID-19 pandemic has therefore presented obstacles as well as opportunities. Even though it momentarily hampered supply chains, R&D efforts, and on-site operations, it sped up the adoption of digital technology and highlighted the benefits of virtual solutions, data analytics, and preventative maintenance.
KEY FINDINGS OF THE STUDY
The key players profiled in the digital twins in automotive market report include Altair Engineering Inc., ANSYS, Inc, Bosch Rexroth AG, General Electric Company, IBM Corporation, PTC Inc., Rockwell Automation, Inc., SAP SE, Schneider Electric SE., and Siemens.
According to a new report published by Allied Market Research, titled, “Used Cars Market," The Used Cars Market Size was valued at $857.50 million in 2023, and is estimated to reach $2 billion by 2033, growing at a CAGR of 8.9% from 2024 to 2033.
A used car is a vehicle that has been used previously or owned by one or more owners. It is known as a pre-owned vehicle or secondhand car. Used cars are sold through traditional walk-in used car stores, online platforms, and independent vehicle dealers. Furthermore, franchises, including social media and online used-car companies, help people buy and sell used cars.
The global used car market growth is driven by high price of new vehicles & affordability concerns and surge in Used Cars Market Demand for off-lease cars & subscription service by the franchise, leasing offices, & car dealers. However, unorganized used car sales and lack of regularization hamper the growth of the global market.
Moreover, the advent of e-commerce & online technologies, steady increase in organized/semi organized sales in emerging countries, growth in electric vehicle business across the globe, and demand for car sharing services are expected to offer lucrative opportunities for the expansion of the global used car market.
The global used car market is evolving rapidly, driven by technological advancements, shifting consumer behavior, and regulatory changes. One of the most notable trends in the industry is the increasing digitization of used car sales. Over 95% of car buyers now conduct online research before purchasing a vehicle, and more than 70% use third-party platforms to compare prices, vehicle history, and financing options. The rise of AI-driven pricing algorithms, blockchain-based ownership verification, and virtual vehicle inspections has further enhanced transparency and consumer trust in the pre-owned car sector.
Another key trend shaping the market is the growing demand for fuel-efficient and eco-friendly vehicles. With stricter emission norms being enforced globally, there is a rising preference for hybrid and electric vehicles (EVs) in the used car market. In 2023, sales of pre-owned EVs surged by approximately 30%, reflecting increasing consumer confidence in battery technology and longer-lasting EV components. Additionally, government incentives for EV adoption, such as tax credits and subsidies, are encouraging more people to consider used electric cars as a viable alternative to traditional gasoline-powered vehicles.
Consumer preferences are also shifting towards SUVs and crossovers in the pre-owned vehicle segment. SUVs accounted for nearly 45% of total used car sales in 2023 due to their versatility, higher resale value, and growing popularity among families and urban drivers. This trend is expected to continue as manufacturers introduce more fuel-efficient and compact SUV models, making them a desirable option in the secondary market.
Subscription-based ownership models and shared mobility trends are also impacting the used car market. Car subscription services, which allow users to switch between vehicles without long-term commitments, have gained popularity among younger consumers who prioritize flexibility over ownership. Additionally, ride-sharing and car rental companies are increasingly integrating high-quality, low-mileage used cars into their fleets to reduce costs and maximize profitability.
Another major development is the integration of connected vehicle technology into the used car market. Vehicles equipped with advanced telematics, real-time diagnostics, and over-the-air software updates are retaining higher resale values compared to conventional cars. Consumers are now looking for pre-owned vehicles with smart features such as adaptive cruise control, lane departure warnings, and integrated infotainment systems, further driving demand for modern Used Cars Market Size.
The Used Cars/Second Hand Cars Market is also witnessing an increase in cross-border trade of used vehicles. Many developing nations, including those in Africa and Southeast Asia, are seeing a rising influx of imported used cars from markets such as Japan, the U.S., and Europe due to affordability and reliability. In some regions, nearly 60% of all vehicle sales come from pre-owned imports, highlighting the global interconnectedness of the used car trade.
As the used car market continues to expand, organized dealerships and certified pre-owned programs are gaining prominence, addressing long-standing concerns regarding transparency, vehicle condition, and warranty coverage. With AI-driven inspection tools and digital transaction platforms becoming more prevalent, the industry is moving towards a more structured, consumer-friendly ecosystem. This shift is expected to enhance trust, improve resale values, and drive sustained growth in the used car sector over the coming years.
The used car market is segmented into vehicle type, fuel type, distribution channel, and region. On the basis of vehicle type, it is divided into hatchback, sedan, and SUV. On the basis of fuel type, it is classified into petrol, diesel, and others. On the basis of distribution channel, it is fragmented into franchised dealer, independent dealer, and others. On the basis of region, the Used Cars Industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players included in the Used Cars Market Analysis are Asbury Automotive Group, Inc., AutoNation, Inc., Big Boy Toyz Ltd, CarMax Business Services, LLC, Cars24 Services Private Limited, Group1 Automotive Inc., Hendrick Automotive Group, Lithia Motors, Inc., Mahindra First Choice Wheels Ltd., and TrueCar, Inc.
Key Market Findings
According to a new report published by Allied Market Research, titled, “Enterprise Asset Management Market Analysis ," The enterprise asset management market was valued at $3.4 billion in 2021, and is estimated to reach $9.9 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031.
Enterprise asset management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information.
Increase in use of IoT devices across almost all industrial verticals, integration of drone & AI-based asset management, and surge in need for cloud-based enterprise asset management system solutions are propelling the global enterprise asset management market trends. Furthermore, increase in acceptance of advanced technologies for asset lifespan extension, the advent of disruptive digital technologies across industrial verticals, and technological advancements in asset management contribute toward the growth of enterprise asset management market. However, one of the key restraints for the EAM industry is finding effective and exact solutions for an organization's business demands.
Depending on deployment model, the on-premise segment holds the largest market share, as large organizations with a vast amount of assets or organizations with sensitive data may prefer to use an on-premise enterprise asset management set-up to meet compliance requirements or relevant legislation. However, the cloud segment is expected to grow at the highest rate during the enterprise asset management market forecast period, as most cloud-based enterprise asset management software offers state-of-the-art security tools and supports General Data Protection Regulation compliance. Vendors have experts in place to combat cyber-attacks, and many provide 24/7 security monitoring, which reduces the negative impact on the asset management for enterprises. Therefore, these factors are the major drivers of cloud-based enterprise asset management industry.
Region wise, the enterprise asset management market size was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to the introduction of additional and new technologies. Furthermore, the demand for EAM software has increased as the penetration of industrial Internet of Things (IIoT) has grown. IoT helps with data monitoring and retrieval from remote sites. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increased need for strict regulatory compliance pertaining to asset management, increase in number of EAM suppliers, and reduced government aid towards asset management are all contributing to the market growth in the region.
The COVID-19 pandemic has posed major problems for the global economy and a variety of economic sectors. Organizations throughout the world have accelerated the usage of cloud-based solutions and services to construct robust and disaster-averse systems to meet the needs of remote workers. The need for public cloud services for industry-specific applications, such as collaboration and other productivity and business continuity solutions, has risen as a result of this. Multiple businesses, including manufacturing, BFSI, automotive, and transportation, have faced major hurdles as a result of the pandemic. The majority of EAM platforms offer modules for facilities management, reporting & analytics, and inventory control, which assist businesses prevent costly network downtime. Businesses have suffered tremendous losses as a result of the lockdowns implemented to contain the pandemic. Several major EAM businesses see this crisis as a chance to restructure and reassess their present strategies and sophisticated product portfolio. Assets, machines, structures, IT, and other project resources are being managed using EAM solutions and services to avoid system failure downtime, increase efficiency, and manage assets, machines, structures, IT, and other project resources. During the pandemic, several firms began implementing cloud-based EAM solutions and incorporating predictive analytics into EAM solutions.
The key players that operate in the enterprise asset management industry are ABB Ltd., AssetsWorks, LLC, CGI Group Inc., IFS, International Business Machine Corporation, Infor, Oracle Corporation, SAP SE, SSG Insights and UpKeep Technologies, Inc.
According to a new report published by Allied Market Research, titled, “Artificial Intelligence (AI) Market," The artificial intelligence (ai) market was valued at $153.6 billion in 2023, and is estimated to reach $3636 billion by 2033, growing at a CAGR of 37.3% from 2024 to 2033.
Artificial intelligence or AI market makes it possible for machines to learn from previous experiences and adjust to new inputs to perform tasks like humans. Such capabilities of artificial intelligence technology enable machines to automate much more complex tasks such as driving cars (self-driving cars), holding conversations (conversational bots), and filtering e-mail (spam and fraud detectors). Furthermore, key factors that drive the growth of the artificial intelligence market include surge in demand for improving operational efficiency and the rise in cost of manual labor. However, high implementation cost of artificial intelligence solutions hampers AI market growth. On the contrary, increasing digital dependence and Industry 4.0 trends are expected to offer remunerative opportunities for expansion of the artificial intelligence market during the forecast period.
Furthermore, the global artificial intelligence (AI) market is in its developing phase, and it exhibits high growth potential, due to rise in its adoption across various industry verticals. In addition, a surge in the number of partnerships is expected to promote artificial intelligence (AI) market growth in future. For instance, in November 2021, Amazon Web Services, Inc. partnered with Workato, a leading global enterprise automation platform enable domain experts without technical backgrounds to harness artificial intelligence (AI) and machine learning (ML). As part of the launch, Workato released an AI/ML Connector, which allows for seamless integrations from any data source into Amazon SageMaker, and AI/ML Accelerator, which provides packaged Recipes and reference architectures to address key AI/ML use cases like customer churn. Moreover, many companies providing artificial intelligence (AI services expanded their geographical presence to expand their customer base and gain more profits. For instance, in January 2020, Apple Inc. acquired Xnor.ai, to enhance process for making machine learning algorithms highly efficient — so efficient that they could run on even the lowest tier of hardware out there, things like embedded electronics in security cameras that use only a modicum of power.
On the basis of industry vertical, the IT & telecommunication segment dominated the overall AI industry in 2023 and is expected to continue this trend during the forecast period. This is attributed to the surge in need for improvement and optimization of network infrastructure among telecom operators and continuous innovation in the IT & telecom sector. Artificial intelligence further makes it easier for telecommunication companies to automate customer services and provide a personalized experience to customers. Furthermore, implementing artificial intelligence helps telecom business leaders make effective data-driven decisions.
Region wise, the artificial intelligence market forecast market was dominated by North America in 2023, and is expected to retain its position during the forecast period, owing to high concentration of artificial intelligence solution vendors in the region. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to its ongoing rapid digital transformation trends that are expected to increase the scope for AI industry in the region.
The pandemic accelerated digital transformation initiatives across industries. Many businesses had to adapt quickly to remote work and online operations, leading to increased investment in AI technologies to automate processes, enhance customer experiences, and optimize operations resulting in boostongthe growth of artificial intelligence industry. Further, the education sector adopted AI for online learning platforms, personalized education, and automated grading systems as schools and universities shifted to remote and hybrid learning models. Furthermore, AI played a significant role in accelerating drug discovery and vaccine development processes. AI models were used to analyze vast datasets and identify potential treatments and vaccine candidates. Thus, these factors propelled the growth of the artificial intelligence industry during the pandemic.
The key players operating in the artificial intelligence market analysis include Amazon Web Services, Inc., Apple Inc., Google LLC, IBM Corporation, Intel Corporation, Microsoft Corporation, Nvidia, Oracle Corporation, SAP SE, Siemens, and OpenAI. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
According to a new report published by Allied Market Research, titled, “Utility Terrain Vehicle Market," The utility terrain vehicle market was valued at $1 billion in 2022, and is estimated to reach $1.8 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
UTVs are designed for a wide range of applications. They can be used for work purposes on farms, ranches, construction sites, and other outdoor job sites. Additionally, UTVs are popular for recreational activities such as trail riding, hunting, and exploring remote areas. UTVs are equipped with powerful engines that provide the necessary torque and horsepower to handle demanding tasks, whether it's towing, hauling, or navigating steep inclines. UTVs are built to handle challenging terrains and off-road conditions. They usually have features like sturdy suspension systems, durable frames, and high ground clearance to navigate rough trails, rocky terrain, mud, and other obstacles.
UTVs are designed to handle rugged terrains and challenging off-road conditions. This unique ability allows enthusiasts to access remote areas and terrains that are otherwise difficult to reach. The promise of conquering rough trails, muddy paths, rocky terrain, and even sand dunes appeals to adventure seekers looking for an adrenaline rush and a sense of achievement. Moreover, UTVs provide an avenue for people to engage in outdoor recreational activities. Whether it is trail riding through forests, exploring desert landscapes or navigating through mountains, UTVs offer an exciting way to immerse oneself in nature and enjoy the great outdoors.
Furthermore, the versatility of UTVs is a major selling point. They can be used for various activities such as camping, hunting, fishing and even light utility work. This adaptability appeals to consumers who want a multi-purpose vehicle that suits both their recreational and practical needs. Off-road races, rallies, and competitions focused on UTVs have gained popularity. These events showcase the capabilities of UTVs, draw participants and spectators, and contribute to the overall excitement and visibility of the market. UTV riding often becomes a social activity where friends and family can bond over shared experiences. Group rides, off-road events, and UTV clubs provide opportunities for enthusiasts to connect with like-minded individuals, fostering a sense of community.
However, UTV enthusiasts may encounter restrictions when it comes to accessing private property for off-roading. Landowners might not permit UTV use on their land due to liability concerns, potential damage to property, or simple personal preference. Access policies to certain areas can change over time. What might have been an open trail for UTVs in the past could be restricted in the future due to evolving land management strategies, safety concerns, or changes in land ownership.
Moreover, UTVs can have an impact on delicate ecosystems, leading to concerns about soil erosion, wildlife disturbance, and habitat destruction. In response, regulations might be put in place to limit UTV access in sensitive areas. UTVs are known for their powerful engines, which can generate a significant amount of noise. This noise can disturb wildlife, other recreational users, and nearby residents, prompting authorities to impose restrictions on where UTVs can operate.
UTV rental and sharing services were gaining traction, especially in tourist destinations and recreational areas. Entrepreneurs could explore opportunities in establishing UTV rental businesses or collaborating with existing rental platforms. TVs appeal to a wide range of customers, including families, adventure seekers, and outdoor enthusiasts. By offering different UTV models and experiences, you can cater to various customer preferences and demographics. Developing a user-friendly mobile app or website for booking UTVs can enhance the customer experience.
The app could include features such as real-time availability, online reservations, GPS tracking, and digital waivers. Develop effective marketing strategies to reach your target audience. Collaborate with local hotels, resorts, and tourism boards to promote your UTV rental services to their guests. Actively seek customer feedback to identify areas for improvement. Continuously refine your services based on customer suggestions and emerging trends in the UTV rental industry. These factors are anticipated to boost the market expansion in the upcoming years.
The utility terrain vehicle market share is segmented on the basis of displacement, application, and region. By displacement, it is classified into Less than 400 CC, Between 400 CC and 800 CC , and Greater than 800 CC.. By application, it is classified into sport UTV, and work UTV. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the utility terrain vehicle market report include Polaris Industries (U.S.), John Deere (U.S.), Kawasaki (Japan), Yamaha Motor (Japan), Kubota (Japan), Arctic Cat (U.S.), Honda (Japan), Bombardier Aerospace (U.S.), Suzuki (Japan), and Tomcar (U.S.)
The report offers a comprehensive analysis of the global utility terrain vehicle market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Utility Terrain Vehicle Industry
Key Findings of the Study
The algorithmic trading industry has rapidly evolved into a crucial segment of the financial markets, driven by technological advancements and the increasing need for speed and efficiency in trading. This industry leverages sophisticated algorithms and high-frequency trading (HFT) strategies to execute orders at speeds and frequencies beyond human capability. Moreover, the key players in the algorithmic trading ecosystem include investment banks, hedge funds, proprietary trading firms, technology providers and others. For instance, in May 2024, Avenix Fzco announced the launch of Reversedo, an innovative Forex robot, designed to improve trading accuracy through advanced algorithms and real-time price action analysis. Through this enhancement, Reversedo will offer precise trend reversal predictions, and make Forex trading more accessible and profitable.
Furthermore, the industry's growth is fueled by the quest for arbitrage opportunities, improved market liquidity, and reduced transaction costs. However, it also faces challenges such as regulatory scrutiny, market volatility, and the need for continuous innovation to maintain competitive advantage. As the industry is growing, the focus is shifting towards incorporating machine learning (ML) and artificial intelligence (AI) to enhance predictive accuracy and adapt to changing market conditions, ensuring sustained growth and resilience. For instance, in March 2021, ?Cowen, an American multinational independent investment bank and financial services company launched an algorithmic trading solution to help institutional clients navigate market dynamics caused by increased?volumes of?retail?trading.? Such an enhancement is anticipated to create lucrative opportunities for market growth during the forecast period.
By component, the solution segment exhibited the highest growth in the algorithmic trading market share in 2023 and is expected to maintain its dominance in the upcoming years, as the algorithmic trading solutions provides a number of benefits such as reduced transaction costs due to lack of human intervention and instant and accurate trade order placement. In addition, the market players are introducing advanced algorithmic trading solutions to serve various needs of their customers. However, the services segment is expected to witness the highest CAGR in the upcoming years, due to an extensive adoption of professional services among end users, as it ensures effective functioning of algorithmic trading solution throughout the process.
By type, the global algorithmic trading market share was dominated by the stock markets segment in 2023 and is expected to maintain its dominance in the upcoming years, due to increase in adoption of algorithmic trading solutions by investors to trade stocks as it operates through a computer program without a need for human interventions. However, the cryptocurrencies segment is expected to witness the highest growth during the forecast period, owing to rise in interest of trading professionals toward crypto-currency trading.
Key Findings of the Study
By component, the solution segment dominated the algorithmic trading market size in 2023.
Depending on deployment mode, the cloud segment generated the highest revenue in 2023, and is expected to witness highest growth rate in the near future.
Based on type, the stock markets segment accounted for the highest revenue in 2023.
By type of traders, the institutional investors segment held the highest market share in 2023.
Region wise, the algorithmic trading market share was dominated by North America in 2023.?
Some of the key algorithmic trading industry players profiled in the report include Software AG, Metaquotes Software Corp., 63moons, Algo Trader AG, Virtu Financial, Tethys, Tata Consultancy Services, Symphony Fintech Solutions Pvt Ltd., Refinitiv Ltd and others. These players have adopted various strategies to increase their market penetration and strengthen their position in the algorithmic trading industry. For instance, in March 2022, Trading Technologies International, Inc. (TT) , a global provider of high-performance professional trading software, infrastructure and data solutions firm has acquired RCM-X, a technology provider of algorithmic execution strategies and quantitative trading products. Through this acquisition, the RCM-X engineering team can work with the clients to create bespoke algorithmic strategies or fully automated solutions tailored to their trading objectives and will help to expand the TT trading platform capabilities across the world.
According to a recent report published by Allied Market Research, titled, “Green Technology and Sustainability Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global green technology and sustainability market size was valued at $10.32 billion in 2020, and is projected to reach $74.64 billion by 2030, growing at a CAGR of 21.9% from 2021 to 2030.
Green technology is a set of products, processes, applications, and practices that are created and used to conserve natural resources and the environment. Conversely, sustainability is referred to as the pathway that overcomes environmental challenges and supports economic & social progress.
The green technology is gaining high traction in the global green technology and sustainability market, as it includes products, equipment, and systems to conserve natural resources and minimize & reduce the negative impact on environment by human activities. Several countries have developed and adopted green strategies to promote the development of renewable energy technologies, and its wide adoption is witnessed for electric grid applications.
Moreover, surge in environmental awareness and increase in concerns among organizations & individuals about global warming augment the growth of the market. In addition, upsurge in adoption of RFID sensors that minimizes carbon emissions and increase in consumer & industrial interest for use of clean energy resources are projected to notably contribute toward the growth of the market in the coming years. However, high product and solution cost associated with green technology and sustainability solutions acts as a major restraint if the market. In contrast, favorable government and private initiatives to tackle climate change and air pollution is an opportunistic factor of the green technology and sustainability market.
The green building segment is expected to garner a significant share during the forecast period. This is attributed to proliferation of major green building trends such as Climate Resiliency, Green Star Certification, and LEED Certification. However, the crop monitoring segment is expected to grow at the highest rate during the forecast period, owing to rise in adoption of artificial intelligence (AI) and Internet of Things (IoT)-enabled crop monitoring systems among the general public of emerging countries.
Region wise, the green technology and sustainability market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to increase in number of green building initiatives in the region. In addition, smart devices in the region operate on low emission deployed networks, which is a key growth factor of the market. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to factors such as favorable government initiatives toward adoption of green technology and high adoption of frontier technologies to promote new sources of economic & employment growth, support structural transformation, and empower access to new opportunities & markets.
The COVID-19 pandemic has brought radical changes to daily lives of people, work, and the surrounding environment. The COVID-19 outbreak has low impact on the growth of the green technology and sustainability market size, as the lockdown implemented during this global health crisis is expected to create significant demand of green technology solutions such as solar panels and LED lighting. Furthermore, increase in government initiatives to curb pollution across various emerging countries such as India and China drives the growth of the market in the pandemic situation.
The key players profiled in the green technology and sustainability market include CropX Inc., Enablon France SA, Enviance Inc., General Electric, Hortau Inc., IBM Corporation, LO3 Energy, Inc., Oracle Corporation, Tech Mahindra Limited, and Trace Genomics, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
According to a new report published by Allied Market Research, titled, “Roadside Assistance Market," The Roadside Assistance Market Size was valued at $31.9 billion in 2023, and is estimated to reach $52.5 billion by 2033, growing at a CAGR of 5.2% from 2024 to 2033.
The roadside assistance market provides on-demand services to vehicle owners experiencing mechanical failures or emergencies while on the road. This market exists to ensure timely support for issues such as flat tires, dead batteries, fuel shortages, or lockouts, offering towing, repair, and other essential services. With an increasing number of vehicles on the road and the rising complexity of automotive technology, the need for professional roadside assistance has grown. Key benefits include enhanced driver safety, minimized vehicle downtime, and convenience, as these services can prevent minor issues from escalating into major problems, supporting both individual drivers and fleet operators.
Various companies have expanded their current services to meet the continuous rise in demand for car roadside assistance. For instance, in September 2022, FixiGo and Roadzen announced their partnership to provide 24x7 nationwide roadside assistance (RSA) services. It includes on-call support, repair on-spot, towing for mechanical and electrical breakdown and accidental cases, vehicle repatriation services, fuel delivery in case of fuel run-out, minor on-site repair, battery jump-start, on-demand assistance, and key retrieval support. Customers can also benefit from new features such as real-time access, dedicated DID (direct inward dialing) numbers, hotel assistance, medical assistance, vehicle custody services, luggage transportation, hotel/house medical assistance during travel, chauffeur on-demand, replacement/courtesy cars, and chauffeur on-call for mobile applications.
Nowadays consumers become more informed about the benefits and availability of roadside assistance services, their demand for these services increases. The convenience offered by roadside assistance plays a crucial role in driving customer interest. Increased consumer awareness regarding the potential risks and uncertainties of being stranded on the road without assistance has led to a growing demand for roadside assistance. People recognize the value of having a reliable service at their disposal in case of emergencies, breakdowns, or accidents. They understand that professional assistance may ensure a swift resolution to their roadside issues.
Moreover, the convenience factor is one of the key drivers behind the increase in demand for roadside assistance. Modern lifestyles are characterized by busy schedules and limited time availability. Individuals and businesses alike seek convenient solutions that minimize disruptions and save valuable time. Roadside assistance services offer a quick and efficient way to address vehicle-related problems, allowing customers to resume their activities without unnecessary delays.
The advent of technology has further amplified the convenience aspect of roadside assistance. Many service providers offer mobile apps or helplines that enable customers to request assistance with just a few taps on their smartphones. This ease of access, coupled with efficient service dispatching and real-time updates, enhances overall convenience and customer experience. Thus, the consumer awareness and the convenience provided by roadside assistance services drives the demand in the market.
Nowadays consumers become more informed about the benefits and availability of roadside assistance services, their demand for these services increases. The convenience offered by roadside assistance plays a crucial role in driving customer interest. Increased consumer awareness regarding the potential risks and uncertainties of being stranded on the road without assistance has led to a growing demand for roadside assistance. People recognize the value of having a reliable service at their disposal in case of emergencies, breakdowns, or accidents. They understand that professional assistance may ensure a swift resolution to their roadside issues.
Moreover, the convenience factor is one of the key drivers behind the increase in demand for roadside assistance. Modern lifestyles are characterized by busy schedules and limited time availability. Individuals and businesses alike seek convenient solutions that minimize disruptions and save valuable time. Roadside assistance services offer a quick and efficient way to address vehicle-related problems, allowing customers to resume their activities without unnecessary delays.
The advent of technology has further amplified the convenience aspect of roadside assistance. Many service providers offer mobile apps or helplines that enable customers to request assistance with just a few taps on their smartphones. This ease of access, coupled with efficient service dispatching and real-time updates, enhances overall convenience and customer experience. Thus, the consumer awareness and the convenience provided by roadside assistance services drives the demand in the Roadside Assistance Industry.
Furthermore, the market has benefited from an increase in partnerships between roadside assistance providers and automotive OEMs. For instance, in August 2024, Urgently, Inc., a major provider of digital roadside and mobility assistance, announced the extension and expansion of its partnership with a major global automotive OEM. Initially covering the U.S. Roadside Assistance Market Sizefor five years, the agreement now extends to seven years and includes Canada. Urgently is projected to continue to support the OEM's warranty roadside assistance program and post-warranty membership plans, offering help for breakdowns and accident-related towing services.
The roadside assistance market is segmented into service, vehicle, provider, and region. Depending on service, it is fragmented into towing, jump start/pull start, lockout/replacement key service, fuel delivery, and others. By vehicle, the market is differentiated into passenger vehicles and commercial vehicles. By provider, it is classified into OEM, motor insurance, independent service provider, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The roadside assistance market analysis includes top companies operating in the market such as Agero, Allianz Global Assistance, Allstate Insurance Company, ARC Europe SA, AutoVantage, Falck A/S, Paragon Motor Club, Roadside Masters, SOS International, and Viking Assistance Group AS. These players have adopted various strategies to increase their market penetration and strengthen their position in the Roadside Assistance Industry.
Key Market Findings
According to a recent report published by Allied Market Research, titled,"Client Virtualization Market by Type, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global client virtualization market was valued at $4,222 million in 2017, and is projected to reach $10,113 million by 2025, registering a CAGR of 11.8% from 2018 to 2025. In 2017, desktop virtualization segment accounted for the highest revenue in the market.
Increasing need for higher efficiency of employees, growing adoption of BYOD across various industry verticals, and numerous benefits offered by these solutions such as enhanced data security and better desktop management drive the growth of the global client virtualization market. However, performance and compatibility issues hamper the market growth. Based on industry vertical, the IT & telecom segment dominated the global market in 2017, owing to pressing need to bring down IT infrastructure costs. Furthermore, the healthcare segment is expected to grow at the highest CAGR during the forecast period, owing to surge in demand for client virtualization solutions in the healthcare sector so as to meet the unique challenges associated with the increasing need to shift from paper-based operations to electronic records and augmented demand for safeguarding patient information.
The global client virtualization market was dominated by the desktop virtualization segment in 2017 and is projected to maintain its dominance during the forecast period. However, the application virtualization segment is expected to witness the highest growth rate, owing to increase in adoption of application virtualization and its numerous benefits such as ease of maintenance, greater portability, and simpler deployment across several versions of Windows OS.
In 2017, the global client virtualization market was dominated by North America and is expected to maintain this trend during the forecast period. However, the Asia-Pacific segment is expected to witness the highest growth, owing to rise in BYOD solutions and need for better desktop management among organizations in developing countries.
Some of the key players of client virtualization market profiled in the report include Cisco Systems, Inc., Citrix Systems, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Microsoft Corporation, Oracle Corporation, Parallels Inc., Red Hat, Inc., Toshiba Corporation, and VMware, Inc.