According to a new report published by Allied Market Research, titled, “Strategy Consulting Market," The strategy consulting market was valued at $38.4 billion in 2021, and is estimated to reach $111.4 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031.
Strategy consulting is a subset of management consulting services that primarily assist a company with effective business strategies and assist them in implementing the strategies into practice to boost revenue. Strategy consultants provide in-depth industry knowledge and impartial advice to provide organizations with the best outcomes for major decisions. In addition, consultants do not offer a one-size-fits-all solution. Their value comes in learning about each client’s business and goals and tailoring advice and strategy consulting to the specific challenges that the business faces.
Furthermore, the proliferation of digital-driving business models offered by strategy consulting is driving the growth of the strategy consulting market trends. In addition, the increasing globalization in consulting projects and the growing focus on risk sharing through strategic partnerships and M&A recommendations are fueling the growth of the strategy consulting market. However, the presence of huge alternatives related to strategy consulting services as well as security concerns and data privacy issues associated with online consulting constraints limit the growth of the strategy consulting market forecast. Conversely, the rising technology integration in consulting services is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
Depending on the organization’s size, the large enterprise segment dominated the strategy consulting market share in 2021 and is expected to continue this trend during the forecast period, owing to the increase in dependence on strategy consulting solutions on account of its support in developing and implementing business strategies. However, the SMEs segment is expected to witness the highest growth in the upcoming years, owing to the increase in investments by the market players to develop strategy consulting for SMEs.
Region-wise, the strategy consulting market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the presence of prominent leaders across the region is the primary aspect supporting the growth of the market, and the rise in demand of strategy consulting services in e-commerce, government, and healthcare to improve businesses and customer experience aiding the growth of the strategy consulting market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to the expansion of new technology advancements in the region allows for a rise in automation in the production of many different products means a higher growth rate over the region, which is expected to fuel the growth of strategy consulting industry in this region.
The rapid spread of COVID-19 and global health concerns relating to this outbreak have had a severe negative impact on the overall consulting businesses including strategy consulting services. The impact of the COVID-19 pandemic on the overall economic environment is still being recovered. Any risks arising on account of COVID-19 such as a lockdown, slowdown of economic activities, loss of life, and debilitation of key personnel can have an adverse effect on business, resulting in a considerable impact on operations, cash flows, and financial condition. Moreover, the consulting industry has been significantly affected by the global pandemic in a number of ways as companies that require travel and the on-site presence of consultants working on operational improvements would be severely hampered due to travel restrictions and remote working.
KEY FINDINGS OF THE STUDY
The global strategy consulting market is dominated by key players such as Accenture, AT Kearney, Bain & Company, Inc, Boston Consulting Group, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited (EY), KPMG International, McKinsey & Company, Oliver Wyman Inc., PwC. These players have adopted various strategies to increase their market penetration and strengthen their position in the strategy consulting industry.
According to a new report published by Allied Market Research, titled, “Mobile Biometrics Market Trends," The mobile biometrics market was valued at $24.6 billion in 2021, and is estimated to reach $184.8 billion by 2031, growing at a CAGR of 22.5% from 2022 to 2031.
Mobile biometric solutions can help in multi-factor authentication (MFA) by leveraging a mobile device as a first factor and that device to authenticate a unique biometric identifier as a second factor. The biometric authentication mechanism can rely on fingerprint recognition, face recognition, voice recognition, or a combination of these. Furthermore, biometrics can be used as a substitute for (or in addition to), a regular text-based password. Furthermore, key factors that drive growth of the mobile biometric market include growing number of cyber threats and attacks on business enterprises. In addition, various government regulations and industry standards for safeguarding user data are promoting the use of mobile biometric devices. However, high implementation cost of mobile biometric solutions can hamper the growth of the mobile biometric market. On the contrary, increasing penetration of IoT solutions are expected to offer remunerative opportunities for expansion of the mobile biometric market during the forecast period.
On the basis of authentication mode, the single factor authentication segment dominated the overall mobile biometric industry in 2021, and is expected to continue this trend during the forecast period. This is attributed to easily deployable timekeeping and employee monitoring applications of single factor authentication solutions. However, the multi factor authentication segment is expected to witness highest growth, owing to rise in number of cyber-attacks and privacy concerns, which is expected to fuel growth of the multi factor authentication segment of the global mobile biometric market.
Region wise, the mobile biometric market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to high concentration of mobile biometric solution vendors in the region, which is expected to drive the market for mobile biometric technology during the forecast period. However, LAMEA is expected to witness significant growth during the forecast period, owing to its growing digital and economic transformation and the developing communication network infrastructure in the region, which is expected to fuel growth of mobile biometric solutions in the region in the coming few years.
Biometric systems have been brought into the spotlight during the period of the pandemic as a key technology for early detection, patient screening and public safety monitoring, in an effort to contain the spread of COVID-19, surveillance, border control, law enforcement, healthcare and biotechnologies sectors were few of the key markets that were rapidly introducing the use of biometrics devices to properly and hygienically secure healthcare and patient care facilities. In addition, new advancements in the field of artificial intelligence were being developed to try to counter-balance any identification problems due to partial face concealment (with face masks), which remains a prevalent challenge for face recognition, thus aiding the growth of mobile biometric market forecast during the period.
KEY FINDINGS OF THE STUDY
The key players profiled in the mobile biometric market analysis are 3M, Apple, Inc., Aware, Inc., BIO-Key International, HID Global Corporation, M2SYS Technology, NEC Corporation, Nuance Communication, Precise Biometrics AB, and Safran, 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, “Specialty Tire Market Trends," The specialty tire market was valued at $12.9 billion in 2022, and is estimated to reach $19.4 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032.
Specialty tires refer to tires designed for specific applications or vehicles that have unique requirements beyond the standard tires used in everyday passenger cars. These tires are engineered to meet the demands of particular vehicles or conditions. Specialty tires are a diverse category of tires designed for specific vehicles, terrains, and applications beyond the standard tires commonly used on everyday passenger cars. These specialized tires are engineered to meet the unique demands of particular driving conditions, providing enhanced performance, safety, and durability.
Specialty tires encompasses a spectrum of designs, each meticulously crafted to meet the unique demands of specific applications, terrains, and weather conditions. One prominent category within specialty tires is off-road tires. These rugged companions are the go-to choice for enthusiasts and professionals who traverse challenging terrains. With their aggressive tread patterns, off-road tires provide exceptional traction on mud, rocks, sand, and other uneven surfaces. Whether you're navigating the untamed trails in an off-road vehicle, powering through the wilderness on an ATV, or taming the dunes in a sand rail, these tires are designed to endure and conquer.
Specialty tires have different specifications and are manufactured according to the desired application. For instance, special tires for trailers, construction equipment, & mining vehicles require higher stiffness and durability than the tires utilized for passenger vehicles. Hence, all these vehicles are typically manufactured to carry heavy load; and hence, specialty tires play a very crucial role in such vehicles. Moreover, the specialty tires are manufactured with minimum trade depth, which provides better cooling of tires and offers better stability while driving.
In addition, increase in focus by entrepreneurs in the agriculture industry is likely to fuel the demand for specialty tires during the forecast period. The continuous change in demand from various users is prompting tire manufacturers to focus on new products that incorporate advanced technology. The expansion of the agriculture sector, a rise in usage of material handling equipment and an increase in mining activities are key factors that are likely to drive the growth of the specialty tire market during the forecast period. The increased development carried out by tire manufacturers across the globe has offered a wider range of products and services to numerous OEMs operating across the globe by offering a wider range of products and services which creates ample opportunities for the growth of the market across the globe.
In November 2023, The Carlstar Group, LLC. launched Carlstar branded tires at the Agritechnica Expo 2023 in Germany. This strategy enables to promote a brand exclusive to the specialty tire and wheel space. The Carlstar Group display a diverse selection of specialty tires bearing the Carlstar name, including the Versa Turf, Turf Master, Fairway Pro, Turf Trac R/S, AT 489, and All Trail tires. Similarly, in March 2023, Bridgestone Corporation, through its subsidiary Bridgestone Americas, launched V-Steel Port Container Straddle (VPCS) radial tire. It is designed for straddle containers used in ports terminals and intermodal yards. The new VPCS is engineered with enhanced load capacity, speed rating, and durability for more efficient operations and extended service life. Such factors have created ample opportunities for the growth of the market across the globe.
The development of specialty tires continues to evolve with advancements in technology, materials, and manufacturing processes. Whether conquering challenging terrains, supporting agricultural operations, handling heavy loads in industrial settings, or ensuring the safety of flights, specialty tires exemplify the intersection of precision engineering and specific-use applications in the world of transportation and machinery.
Furthermore, due to rising fuel efficiency norms encouraging the development of alternative energy-driven vehicles; automobile manufacturers are leaning toward electric and alternative fuel automobiles. The increase in commercial and passenger automobile production as well as more advanced technology, creates a demand for specialty tires across the globe.
KEY FINDINGS OF THE STUDY
The leading players operating in the specialty tire market are CEAT Ltd., Michelin, GRI Tires, Maxam Tire, Specialty Tires of America, Inc., The Carlstar Group, LLC, Bridgestone Corporation, Continental AG, Nokian Tyres plc., and Zhongce Rubber Group Co., Ltd.
According to a new report published by Allied Market Research, titled, “Enterprise 2.0 Technologies Market," The enterprise 2.0 technologies market was valued at $22.6 billion in 2021, and is estimated to reach $223.3 billion by 2031, growing at a CAGR of 26% from 2022 to 2031.
Enterprise 2.0 is termed as the as the strategic integration of technology related to Web 2.0 into the intranet, extranet and in business processes of the enterprise. Enterprise 2.0 implementations in general use a combination of the social software and collaborative technologies for various example blogs, RSS, social bookmarking, social networking and wikis. Most of the enterprise 2.0 technologies, whether homegrown, free or purchased, emphasize employee, partner and consumer collaboration. Such technologies may be web based or in-house.
Furthermore, the rise in awareness about benefits of enterprise 2.0 and the rising penetration of smartphones and the internet boost the growth of the global enterprise 2.0 technologies market. In addition, increasing trends in online shopping positively impact the growth of the market. However, the risk of security incidents on networks and lack of technical proficiency, and lack of awareness hampers the enterprise 2.0 technologies market growth. On the contrary, the increase in technological advancement is expected to offer remunerative opportunities for expansion during the enterprise 2.0 technologies market forecast
Depending on enterprise size, the large enterprise segment holds the largest enterprise 2.0 technologies market share as large enterprises are adopting enterprise 2.0 technologies to protect all their infrastructures. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase adoption of cloud computing in the past few years.
Region-wise, the enterprise 2.0 technologies market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, large scale adoption of IoT and cloud services. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.
The COVID-19 outbreak negatively impacts the growth of the market, the industry is expected to recover by the third quarter of 2022. This is attributed to significant investment in advanced technologies such as IoT and smart technologies and various government initiatives, such as smart cities, across Asia-Pacific countries, including China and India. Furthermore, adopting technologies such as cloud, Artificial Intelligence (AI), and IoT. With the considerable control achieved over the pandemic, various sectors such as retail, manufacturing, and automotive, are expected to witness rising investments as enterprise 2.0 technologies solutions grow in prominence across different business functions offered several opportunities to digitize and expand the business across regions. Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global enterprise 2.0 technologies industry.
KEY FINDINGS OF THE STUDY
The key players profiled in the enterprise 2.0 technologies market analysis are are Accenture, Capgemni SE, Cisco Systems Inc, Fujitsu, Cognizant, Delloite, IBM Corporation, Infosys, Tata Consultancy services, Tech Mahindra Limited, Oracle Software, HCL Technology, Tesco Controls, Burrow Global, INTECH, Crystalloids Inc, and Mangrovia Blockchain Solutions. These players have adopted various strategies to increase their market penetration and strengthen their position in the enterprise 2.0 technologies industry.
According to a new report published by Allied Market Research, titled, “Computer Vision Market," The computer vision market was valued at $15 billion in 2022, and is estimated to reach $82.1 billion by 2032, growing at a CAGR of 18.7% from 2023 to 2032.
Artificial Intelligence (AI) with computer vision technology is becoming increasingly popular in different use-cases, such as computer vision solutions in consumer drones and autonomous and semi-autonomous vehicles. Also, the recent advancements in computer vision comprising image sensors, advanced cameras, and deep learning techniques have widened the scope for computer vision systems in various industries, including education, healthcare, robotics, consumer electronics, retail, manufacturing, and security & surveillance, among others. Computer vision is a field of artificial intelligence (AI) that enables computers and systems to derive meaningful information from digital images, videos and other visual inputs and take actions or make recommendations based on that information. If AI enables computers to think, computer vision enables them to see, observe and understand. .
Furthermore, factors such as faster processing and better accuracy coupled with economic advantage of computer vision system are one of the major factors that is striking the market growth during the forecast period. However, intense requirement of highly skilled and experienced professional and user data privacy and safety concerns is primarily restraining the market growth. Moreover, growing application of computer vision in non-industrial applications and advancements in the field of computer vision and AI is expected to create a lucrative opportunity for the market growth during the forecast period.
On the basis of component, hardware segment dominated the computer vision market in 2022 and is expected to maintain its dominance in the upcoming years owing to growing industrial workloads and rising demands for industrial automation propels the market growth significantly. However, the software segment is expected to witness the highest growth, owing to offer custom image processing applications such as facial detection, object identification, text recognition, color, and pattern recognition, and others.
Region-wise, the computer vision market size was dominated by North America in 2022 and is expected to retain its position during the forecast period, owing to rise in number of IoT applications hosted on cloud and increasing investments in emerging technologies such as big data, social media, and due to artificial intelligence supporting a smarter and safer mobility aiding the growth of the computer vision market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to rapid shift in accelerating inspection procedures and increasing application efficiency and operating efficiencies which is expected to fuel the market growth in this region.
During the pandemic there was a rapid adoption of advanced technologies such as automation, artificial intelligence, machine learning and deep machine learning. This is attributed to the increase in need for computers and systems to derive meaningful information from digital images, videos and other visual inputs and take actions or make recommendations based on that information. For instance, in January 2022, Texas Instruments Incorporated expanded its computer vision services and automotive offerings that can help automakers improve how advanced driver assistance systems sense objects during the pandemic period. Furthermore, key players in the market adopted strategies such as product launch and product development to enhance their services during the pandemic period. For instance, in April 2020, Cognex Corporation upgraded its computer vision services and launched the in-sight D900 embedded vision system. The system is designed to solve applications including optical character recognition (OCR), assembly verification, and defect detection. Such developments helped the computer vision market to witness growth during the pandemic period.
Several technological advancements are influencing the computer vision's development and opportunity. The development of deep learning algorithms and neural networks is one important trend. By improving photo recognition, object detection, and pattern analysis accurate and efficient, these technologies have completely changed computer vision. Large datasets can be used to train deep learning algorithms, which enables computer vision systems to continuously improve their efficiency and precision over time. Applications like driverless vehicles, facial recognition, and quality control in manufacturing have become new avenues to explore due to the current trend. Further, the combination of computer vision with other cutting-edge technologies, such as augmented reality (AR) and virtual reality (VR), is a significant technological development in the computer vision sector. Businesses are able to provide users with immersive and engaging experiences by fusing computer vision with AR and VR. The user's perception of and engagement with their surroundings can be improved by using AR applications, which, for instance, can overlay virtual information over real-world locations. In sectors such as gaming, retail, and healthcare where computer vision is being employed to create more realistic and immersive experiences, this integration is fuelling innovation.
The key players profiled in the computer vision industry are as Intel Corporation, Texas Instruments Incorporated, Cognex Corporation, Keyence Corporation, Sony Corporation, Basler AG, Omron Corporation., Mediatek Inc., National Instruments Corporation, Teledyne Technologies Incorporate. These players have adopted various strategies to increase their market penetration and strengthen their position in the computer vision industry.
According to a recent report published by Allied Market Research, titled, “Cloud POS Industry by Component, Service, Organization Size and Application: Global Opportunity Analysis and Industry Forecast, 2021-2028,” the global cloud POS market size was valued at $2.24 billion in 2020, and is projected to reach $13.24 billion by 2028, registering a CAGR of 24.5 % from 2020 to 2028.
Cloud-based POS systems are sometimes called POS applications (applications) instead of software, because they are commonly used on mobile devices. They are also called EPOS (electronic trading platform) to reflect the fact that the software works with electronic devices. Cloud POS market trends can be realistic while a business manager can view and process sales data from anywhere as it is updated in real time in the cloud. It also means lower equipment costs, because an existing iPad or mobile phone can be used as a virtual POS connector. Because data is stored on POS provider's Internet servers, a cloud-based POS system can usually only work if there is an Internet connection, although providers can provide offline functionality to minimize potential disruption to your customers.
POS software for mobile devices is usually made with cloud-based POS solutions. Cloud computing providers offer web-based financial services for POS systems, where data is adequately supported on remote vendor servers. For many companies, the full benefits of cloud-based POS are evident - security, data storage and many other software applications can be sent to vendors. However, it is important to check the service level agreement to specify the operating time and other features provided.
In 2020, the global Cloud POS market share was dominated by the solution, and is expected to maintain its dominance in the upcoming years, Cloud computing providers offer web-based financial services for POS systems, where data is adequately supported on remote vendor servers. Within the market, services is estimated to emerge as fastest growing segment, Increased solidarity among end users regarding the adoption cloud technology across all major domains is expected to be a key driver in the cloud POS market. The benefits associated with the adoption of cloud POS, such as improved flexibility, environmental flexibility, and continuous functionality help end users to embrace cloud POS throughout their vertical industry, thereby widening a positive scope for Cloud POS market analysis
The widespread COVID pandemic has had a significant influence on the growth of the global Cloud POS industry, which is predicted to rise following the COVID-19 pandemic. This is attributable to the fact that, due to the rapid spread of coronavirus around the world, retail shops and restaurants remained closed for in-person services. Due to this, business owners and management staff of such businesses had to depend upon home deliveries directly to their consumers and taking their orders through websites, smartphone apps, and phone calls; facilitating such services made these industries to adopt or upgrade their POS terminals during the COVID pandemic. This resulted in growth in the cloud POS industry globally
KEY FINDINGS OF THE STUDY
Some of the key companies mentioned within the report are Square, Inc., Cegid, UTC Retail, Shopkeep, PAR Technology, Shopify, B2B Soft, Intuit, Lightspeed and Oracle
According to a new report published by Allied Market Research, titled, “Superyacht Market Analysis," The superyacht market was valued at $10.3 billion in 2022, and is estimated to reach $25.7 billion by 2032, growing at a CAGR of 9.8% from 2023 to 2032.
The superyacht industry is undergoing dynamic transformations, shaped by evolving trends that reflect the changing preferences and demands of discerning clientele. As environmental consciousness becomes a more significant consideration, yacht designers and builders are incorporating innovative solutions such as hybrid propulsion systems, energy-efficient materials, and waste-reduction measures to minimize the ecological footprint of these luxury vessels. In addition, superyachts are now equipped with state-of-the-art entertainment systems, smart home automation, and advanced navigation and communication tools, providing owners and guests with unparalleled convenience and connectivity.
Furthermore, there is a rising demand for unique, customized designs that reflect the individual tastes and lifestyles of owners. Yacht owners are increasingly seeking bespoke features, from personalized interior layouts to one-of-a-kind amenities, making each superyacht a distinctive expression of luxury. Additionally, wellness and health-conscious features are gaining prominence, with onboard spas, fitness centers, and health-focused culinary options becoming standard offerings.
As the superyacht industry continues to evolve, these trends underscore a shift towards more sustainable, technologically advanced, and personalized luxury experiences for the elite clientele who indulge in the opulence of yachting. However, a key step in improving the industry's environmental footprint is finding effective ways to measure it. The International Maritime Organization (IMO) has introduced a range of tools to measure the environmental impact of ships in the commercial shipping industry. Energy Efficiency Existing Ship Index (EEXI) and Energy Efficiency Design Index (EEDI) refer to energy efficiency under specific single conditions. Condition (measured in CO2 emitted by carried out transport operations) and Carbon Intensity Index (CII) refer to the operational carbon intensity observed over a year, but these are not yet applicable to most yachts. However, in an active effort for the industry to take responsibility for reducing its environmental footprint, a variety of independent yachting environmental indicator tools have been developed.
In addition, Yacht owners also seek connectivity and smart technology that gives a modern outlook in their onsite experience at sea. Sophisticated satellite and communications systems ensure internet access for people working and enjoying their stay aboard ships at sea. Lighting, air conditioning, security and entertainment are controlled by smart automation systems and thus improve comfort and saving in energy. Navigation is made safer and more effective through real time data and electronic charts. Such high-tech innovations ensure that the quality of life aboard increases while maintaining the lifestyle of the high digital standard of today’s luxury yacht owner resulting in increased market demands.
Moreover, the rising demand for super yachts and mega yachts. There is an increasing trend in wealthy customers looking for bigger ships, which in addition to opulence have more features and capabilities. This is with regard to the bigger yachts that have extra lavish things comprising of helipads, larger pools, two or more levels and the cinema on board. It shows an appetite by yacht lovers for unprecedented comfort, entertainment and long time’s running of their vessels while sailing with the highest level of comfort possible. This has seen several shipyards specializing in producing large and ultra expensive yachts for the exclusive elite markets.
The superyacht market is segmented based on size, application, propulsion and region. Depending on the size, the market is segregated into 30-80 meters and above 80 meters. By application, it is categorized into charter and private. Based on the propulsion, it is fragmented into motor, sailing and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY FINDINGS OF THE STUDY.
Key players covered in the superyacht market report include Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, The Italian Sea Group S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker.
According to a new report published by Allied Market Research, titled, “Free-to-air (FTA) Service Market," The free-to-air (FTA) service market was valued at $120.28 billion in 2022, and is estimated to reach $337.3 billion by 2032, growing at a CAGR of 11.2% from 2023 to 2032.
Free-to-air (FTA) services continue to be an approachable method for millions of viewers to view a range of media content by using a simple antenna, with or without a requirement for a Set Top Box (STB). They are available in an unencrypted format and provided by broadcasters exclusive of any subscription that is permitted by the government authorities. These TV channels are generally earned using advertisements.
They are typically available in residential and commercial areas through a range of methods, including terrestrial broadcasting, satellite broadcasting, and Internet Protocol television (IPTV). Further, the convenience of FTA services in commercial and residential areas varies depending on the location. In some areas, there may be a limited number of FTA channels available or only accessibility to terrestrial FTA services, however, in other areas, there may be a wider selection of channels or accessibility to both terrestrial and satellite FTA services. Hence, FTA services are gaining significant momentum in residential and commercial applications to provide a free and easy way to watch television and radio.
The rise in adoption of Internet Protocol Television (IPTV) and the increase in number of subscribers are expected to drive the growth of the market. In addition, the surge in the integration of government initiatives in digital broadcasting and FTA services fuels the growth of the free-to-air service market. However, a lack of content security and data piracy is expected to limit the market growth. Conversely, the emergence of Over-the-top (OTT) platforms with free streaming services is anticipated to provide numerous opportunities for the expansion of the free-to-air service market size during the forecast period.
Depending on the device type, the cable television segment dominated the free-to-air service market share in 2022 and is expected to continue this trend during the forecast period, owing to the increased smart TV usage, rising internet penetration, and surging consumer demand for better television distribution infrastructure. However, the mobile TV segment is expected to witness the highest growth in the free-to-air service industry, owing to the growing utilization of smart equipment, such as smartphones and tablets, along with the rise in the availability of affordable mobile business services (or “m-services”) across diverse telecommunication carriers
Region-wise, the FTA service market was dominated by North America in 2022 and is expected to retain its position during the forecast period owing to several government authorities and broadcasting agencies employing these FTA solutions to streamline media and content delivery, further contributing to the market growth within the region. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the surge in demand for cable TV and mobile TV, coupled with favorable government support to promote the use of digital television services among residential and commercial areas.
The effects of the COVID-19 crisis on the global economy have a mixed effect on the growth of the free-to-air service market analysis in the short run, i.e., 2020 and 2021. However, the pandemic led to an increase in TV viewership, as people have been staying at home, which has propelled the demand for FTA services. On the contrary, the pandemic led to a decline in advertising revenue, which is a key source of income for FTA broadcasters. This decline was witnessed due to the fact that businesses had been cutting back on their advertising spending during the pandemic. Further, the non-accessibility of fresh content on free-to-air TV channels as a result of disruption in shooting for prime-time soap operas in a bid to mitigate the impact of the COVID-19 outbreak is expected to limit the growth prospect of the FTA service market.
However, the free-to-air (FTA) service market is projected to gain significant traction in the long run, as the demand for FTA services remains robust in the upcoming years, due to the rising integration of new technologies, such as 5G, which are expected to make it easier for individuals to access FTA services. This factor creates the demand for free-to-air service, thus accelerating the growth of free-to-air service market forecast. Additionally, the rise in usage of digital services in FTA broadcasting to adapt to the changing landscape of the TV industry during the COVID-19 pandemic is anticipated to foster the demand for the free-to-air service industry worldwide.
KEY FINDINGS OF THE STUDY
The global free-to-air services market is dominated by key players such as AMC Networks, Inc., British Broadcasting Corporation, BT Group Plc, Deutsche Telekom AG, Eutelsat, ITV Plc, Mediaset S.p.A., ProSiebenSat.1 Media SE, RTL Group, and Sky Plc. 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, “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.