Market Research Blog – Page 1082 – New Product Development

Forecasting Growth: Recruiting Automation Software Market Set to Reach US$ 660 Million by 2032

It is anticipated that the market for recruitment automation software would develop at a compound annual growth rate (CAGR) of 2.7%. The market is predicted to be valued at around US$ 660 million as a result of this consistent growth, highlighting the growing need for automation solutions in the hiring industry.

Recruiting automation software is becoming into a vital tool as businesses in a variety of sectors want to improve productivity and automate their hiring procedures. These solutions are crucial for contemporary HR departments because they not only offer sophisticated capabilities like resume processing, candidate ranking, and automated communication, but they also lessen the need for manual intervention in talent acquisition. The industry for recruiting automation software is showing signs of strength and might have a big influence on how hiring is done in the future.

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Efficiency and Cost benefits are encouraging the demand for automation software:
Companies are adapting recruiting software since the automation of mundane processes and functions like sourcing, screening and the creation of rich talent can enable the best value from recruiters. Recruiting Automation Software also enhances recruitment analytics for future use.

GenZ entering the workforce has led to employers having to adapt to candidates who look for quick and up-to-date processes:
Research finds that GenZ looks for companies that have timely, communicative, multi-platform recruiting processes. They are driven by the creation of valuable interactions with recruiters. Companies who want to tap into emerging talent are looking to the adoption of automated recruiting software.

Recruiting Automation Software Market: Competition Insights:
At present, Recruiting Automation Software providers are focused on developments that will ensure further simplification of mundane processes, as well as automation of initial tests and screenings. The key companies operating include Zoho, Recruit, LinkedIn Talent, Indeed, Hiretual, SmartRecruiters, Samanage Ltd., Entelo, Dice, Beamery, CareerBuilder, JobDiva, JazzHR, Greenhouse, Bullhorn, and ZipRecruiter.

Key Segments Covered In Recruiting Automation Software Industry Survey

By Type:

Cloud-Based
On-Premise

By Application:

Large Companies
Small and Medium Companies

By Region:

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Global Pulmonary Arterial Hypertension Treatment Market Projected to Reach USD 7,224.4 Million by 2033

The global pulmonary arterial hypertension treatment market is on track to achieve significant growth over the next decade, with a projected valuation of USD 7,224.4 million by 2033. This expansion represents a compound annual growth rate (CAGR) of 2.2% from 2023 to 2033, up from an anticipated USD 5,811.5 million in 2023. This promising outlook is largely driven by remarkable advancements in genomics and personalized medicine, which are opening new avenues for innovative PAH treatments.

A key factor propelling the market’s growth is the establishment of comprehensive patient registries and the increasing use of real-world evidence. These resources are proving invaluable for assessing the effectiveness of PAH treatments in everyday clinical practice. By leveraging this real-world data, healthcare providers and researchers can make more informed treatment decisions and accelerate the development of new, more effective drugs.

The integration of genomic data into PAH treatment protocols is revolutionizing the approach to patient care, allowing for highly tailored therapies that significantly improve patient outcomes. Personalized medicine, which tailors treatments based on individual genetic profiles, is rapidly becoming a cornerstone of PAH management, promising enhanced efficacy and reduced side effects.

The establishment of patient registries is also contributing significantly to the market’s growth. These registries collect and analyze extensive data from PAH patients, providing crucial insights that help refine existing treatments and guide the development of novel therapeutic approaches. The use of real-world evidence derived from these registries is essential for understanding how treatments perform outside the controlled environment of clinical trials, ensuring that they deliver tangible benefits to patients in diverse healthcare settings.

As the global PAH treatment market evolves, stakeholders across the healthcare spectrum—including pharmaceutical companies, healthcare providers, and patients—are poised to benefit from these advancements. The continuous growth in this sector underscores the critical importance of innovation and collaboration in tackling pulmonary arterial hypertension, a condition that affects countless individuals worldwide.

Key Takeaways from the Market Study:

Global pulmonary arterial hypertension treatment market was valued at USD 5,708.7 million by 2022-end.

From 2018 to 2022, the market demand expanded at a CAGR of 2.0%.
The market in France held a market share of 24.3% in 2022.

By distribution channel, hospital pharmacies segment held a market share of 64.6% in 2022.

From 2023 to 2033, pulmonary arterial hypertension treatment market is expected to flourish at a CAGR of 2.2%.
By 2033, the market value of pulmonary arterial hypertension treatment is expected to reach USD 7,224.4 million.

Advances in non-invasive diagnostic techniques, such as imaging and blood biomarkers is expected to propel the growth of the pulmonary arterial hypertension treatment market in the near future, remarks an FMI analyst.

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Competitive Landscape:

Prominent players in the pulmonary arterial hypertension treatment market are United Therapeutics Ltd., Bayer AG, Actelion Ltd., Pfizer, Inc., Gilead Sciences, Inc., GlaxoSmithKline plc., Teva Pharmaceuticals Inc., Eli Lilly and Company, Steady Med Ltd., and Johnson & Johnson Services, Inc., among others.

Recent Developments:

In 2023, REATA Pharmaceuticals announced the completion of a Phase 2 clinical trial of its new PAH treatment, bardoxolone methyl. The trial results showed that bardoxolone methyl was safe and effective in reducing PAH symptoms and improving exercise capacity in PAH patients.
In 2022, Johnson & Johnson announced the initiation of a Phase 3 clinical trial of its new PAH treatment, JNJ-76479254. JNJ-76479254 is a novel oral PAH treatment that is designed to improve the efficacy and tolerability of PAH treatment.
In 2021, United Therapeutics Corporation announced the launch of its new PAH treatment, Tyvaso (treprostinil) nebulizer. Tyvaso nebulizer is a nebulized formulation of treprostinil that is designed to improve the convenience and delivery of treprostinil treatment for PAH patients.
In 2021, Verfora Pharmaceuticals announced the completion of a Phase 2 clinical trial of its new PAH treatment, VER-205. The trial results showed that VER-205 was safe and effective in reducing PAH symptoms and improving exercise capacity in PAH patients.

Segmentation Analysis of the Pulmonary Arterial Hypertension Treatment Market:

Drug Type:

Vasodilators
Phosphodiesterase 5 (PDE 5) Inhibitors
Endothelin Receptor Antagonists (ERA)
Soluble Guanylate Cyclase (SGC) Stimulator

Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa

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Stadium Security Market is Expected to Reach a Valuation of US$ 21.3 Billion by 2032 | Says FMI

The Stadium Security Market revenues were estimated at US$ 9.5 Billion in 2021 and is anticipated to grow at a CAGR of 7.2% from 2022 to 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 21.3 Billion. Revenue through stadium security software hardware is expected to grow at a CAGR of 6.7% from 2022 to 2032.

Terrorist attacks at an occasion or event at a stadium have been the key element driving the expansion of the stadium security industry in the coming years. The safety and security of the venues are critical for big events, such as shows, games, and other open social gatherings that take place in the arenas. Managing a large group of people is not an easy task, since group upheavals, misbehavior by some bystanders, and infractions are all too often.

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Similarly, there is a strong risk of militant attacks at prime locations. In the past, the attacks including the 2017 Manchester attack and the 2015 Paris attack, posed a serious threat to human life. Numerous prominent players are implementing stadium surveillance systems at several large stadiums to get an advantage against tough competitors. Vodafone, for example, is expected to create a smart stadium safety and security system for the FIFA World Cup 2022 in Qatar.

Key Takeaways from the Market Study

Global Stadium Security Market is expected to reach a market size of US$ 13.9 Bn by 2022.
In terms of Component, the Hardware segment is expected to account for the highest CAGR of 6.7% during the forecast period.
In terms of Sales Channel, the Channel Partner segment is expected to account for the highest CAGR of 8.3% during the forecast period.
United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 3.5 Bn during 2022 – 2032.
The market in U.S is set to experience the highest CAGR of 6.6% during the 2022-2032 forecast period.

Competitive Landscape

The Stadium Security Market is highly concentrated, with a few competitors accounting for the vast majority of the market share. The established firms are attempting to obtain supremacy in this sector. These firms are increasing their profits and market shares through smart joint projects. The key stadium security

companies include Cisco Systems Inc., Intel Corporation, BOSCH Security Systems Inc., Avigilon Corporation, Honeywell International Inc., Axxonsoft, Genetec Inc., Rapiscan Systems, NEC Corporation, and Dallmeier.

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Some of the recent developments in Stadium Security market include:

In May 2021, Cisco acquired Kenna Security, a risk-based vulnerability management platform provider. It will enable Cisco offer its customers to collaborate cross-functionally to quickly discover, prioritize, and remediate cyber hazards.

Being a part of the SecureX system, Cisco Security will combine risk-based and threat vulnerability management, broadening the experience of the platform and offering full scorecards for security measures and threat response capabilities.

In September 2021, Dallmeier, a provider of video security equipment in Germany announced that their Panomera multifocal sensor cameras have been seamlessly integrated into the Breakthrough XProtect video management software (VMS). The connection adds new possibilities for seeing and monitoring broad areas and massive geographical contexts to XProtect users.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Stadium Security Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Stadium Security Market in terms of Components (Hardware, Software, Services), Sales Channel (Channel Partners, Direct Sales, Others), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

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Market Segments Covered in Stadium Security Market Analysis

By Component:

Hardware
Access Control Systems
Video Surveillance Systems
Others
Software
On-Premise Based
Cloud-Based
Services
Installation and Maintenance
Others

By Sales Channel:

Channel Partners
Direct Sales
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Solid State Drive Market 2022 Future Analysis, Demand by Regions and Opportunities with Challenges 2032

The solid state drive market is poised for significant growth, projected to reach a substantial valuation of US$ 39.2 Billion with a robust CAGR of 10% through the year 2032. The increasing demand for high-performance storage solutions, coupled with advancements in technology, is driving the expansion of the Solid State Drive market. SSDs, known for their faster data access speeds and enhanced reliability compared to traditional Hard Disk Drives (HDDs), are gaining widespread adoption across various industries.

The accelerating shift towards cloud computing, the rising popularity of data-intensive applications, and the continual growth of the gaming industry are contributing factors to the escalating prominence of the Solid State Drive market. As organizations and consumers alike prioritize efficiency and speed in data storage, the SSD market is expected to witness sustained momentum, fostering innovation and development in the coming years.

Global Solid State Power Controller Market: Drivers and Challenges:
The rapid increase in industrialization and commercialization building of power plants and other electrification of railways and metros and government initiatives towards smart cities are the factors expected to positively impact the growth in revenue of the global solid state power controller market during the forecast period.

Increase in the requirement for energy conservation in manufacturing industries and home utilities to minimize power losses are among the other factors expected to drive the growth in revenue of the global solid state power controller market.

The growing need for damage prevention in appliances and equipment due to overvoltage conditions among consumers and increasing awareness among the population is expected to positively impact the growth in revenue of the global solid state controller market.

One of the prime challenges which restrict the growth of the global solid state power controller market is its high installation cost, complexity in deployment, and lack of standardization.

Competitive Analysis:
Since the market’s entry barriers are high, it is difficult for new firms to enter. The market’s existing suppliers are substantially spending on research and development to improve their existing portfolio. The top solid state drive manufacturers include:

Intel Corporation, Samsung Group, Micron Technology, Inc., Toshiba Corporation, Western Digital Corporation, Inc., ADATA Technology Co. Ltd., Transcend Information Inc., Kingston Technology Corporation, SK Hynix Inc., Teclast Electronics Co., Limited

The SSD market is segmented based on form factor, technology, storage capacity, application, end-user, and region. The 2.5-inch form factor dominates the market due to its compatibility with laptops and desktop computers. The market is also segmented by technology into single-level cell (SLC), multi-level cell (MLC), and triple-level cell (TLC) SSDs.

In terms of storage capacity, the market is segmented into less than 250GB, 251GB to 500GB, 501GB to 1TB, 1.1TB to 2TB, and more than 2 TB. The application segment includes laptops and PCs, servers, storage devices, and others. The end-user segment includes consumer, enterprise, and industrial sectors.

Market Segments Covered in SSD Market Analysis

By Type:

External
Internal

By Interface Type:

SATA SSD
SAS SSD
PCI-E SSD

By Form Factor:

1.8”/2.5”
3.5”
M.2
U.2
FHHL/ HHHL

By Storage:

Under 500 GB SSD
599 GB – 1 TB SSD
1 TB – 2 TB SSD
Above 2 TB SSD

By Application:

Enterprise SSDs
Client SSDs

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Software-Defined Anything (SDx) Market: Forecasting a Remarkable 17.5% CAGR Growth by 2032

The Software-Defined Anything (SDx) Market revenues were estimated at US$ 61.4 Billion in 2021 and are anticipated to grow at a CAGR of 17.5% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 380.5 Billion.

Software-defined networking platforms help network owners by providing more control over traffic flow to automate many functions associated with network management. Consequently, communication systems, which include countless Communication Service Providers (CSPs), are investing heavily in software-defined networking technologies to improve network management.

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Key Takeaways from the Market Study

Global Software-Defined Anything (SDx) Market is estimated to reach a market size of US$ 76.1 Billion by 2022.
In terms of Type, the Software-Defined Networking (SDN) market is expected to grow at a CAGR of 18.2% during the forecast period.
In terms of End Users, the Service Provider segment is expected to account for a CAGR of 18.2% during the forecast period.
United States to remain the most dominant market with an absolute dollar growth opportunity of US$ 108.2 Billion during 2022 – 2032.
The market in U.S is set to experience the highest CAGR of 17.1% during the forecast period.

Competitive Landscape:

Due to the significant growth in demand for software-defined services from clients and other consumers in the industry, manufacturers in this market are constantly investing in the research and development of SDx technology. Since there is intense rivalry in this sector, several manufacturers are increasingly concentrating on purchasing small businesses to expand their product range and virtualization solutions.

Some of the key developments in the market include:

In September 2021, Hewlett Packard (HP) Enterprise announced the completion of its takeover of Zerto, a provider of cloud data protection and management, for a net cash purchase cost of US$ 374 Mn. This purchase instantly aligns the HPE GreenLake edge-to-cloud system with a solution in the high-growth data security industry and is expected to drive HPE’s storage company into a software-defined, cloud-native information services business.
In March 2021, Cisco announced the completion of its takeover of Acacia Communications, which designs, produces, and distributes high optical connectivity solutions for data centers, and regional, metro, long-haul, and submarine networks.
Cisco’s ‘Internet for the Future’ approach emphasizes software, optics, and silicon, as crucial building blocks for bringing disruptive breakthroughs across different disciplines. As web traffic and bandwidth continue to rise, optics will play an increasingly important role in pushing architectural changes. Cisco’s purchase of Acacia reaffirms their engagement to optics as one of the fundamental building pieces that will strengthen Cisco’s ‘Internet for the Future’ vision by providing world-class coherent optical solutions to their customers.

Key Players:

Some of the key Software-defined Anything companies include Cisco, Dell EMC, Hewlett Packard Enterprise, VMware, Huawei, Broadcom Inc., Citrix, Intel Corporation, IBM Corporation, and AT&T Inc.

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More Insights Available:

Future Market Insights, in its new offering, presents an unbiased analysis of the Software-Defined Anything (SDx) Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Software-Defined Anything (SDx) Market by Type (Software-Defined Networking, Software-Defined Wide Area Network, Software-Defined Data Center, Software-Defined Storage, Software-Defined Data Center Networking), End-User (Service Provider, Enterprises), Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

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Software-Defined Data Center Market is projected to increase at a CAGR of around 17.3% during 2022 to 2032

The Software-Defined Data Center Market revenues were estimated at US$ 39.4 Bn in 2021 and is anticipated to grow at a CAGR of 17.3% during 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 228.6 Bn.

Some of the key Software-Defined Data Center market drivers are an increase in the number of created data, an increase in the requirement for efficient network management, and a considerable decrease in Capex and Opex. However, rising worries about data privacy and security, inefficient resource allocation, and a shortage of qualified labour are some of the reasons that may stymie industry expansion. Furthermore, the market benefits from an increase in demand of hybrid clouds as well as an increase in use of the Internet of Things.

As technology evolves and more companies adopt cloud technologies and digitalization, SDI assists firms in focusing on its digital transformation operations to achieve business outcomes. SDX also aids in abstracting away from improvement, development, and business teams to accomplish substantial results. Some of the most potential advantages for any firm are agility and scalability.

Moreover, SDx provides a virtualization gateway, which is emerging as an important application infrastructure component for software applications in digital business. SDX also strives to offer new and enhanced goods and services at the speed of the client, not the speed at which the infrastructure team traditionally functions, hence boosting market growth.

Key Takeaways from the Market Study

● Global Software-Defined Data Center Market is expected to reach a market size of US$ 46.2 Bn by 2022.

● In terms of Component, the Hardware segment is expected to have the highest CAGR rate of 19.5% during the forecast period.

● In terms of Type, the Software-Defined Computing segment is expected to have the highest CAGR rate of 18.7% during the forecast period.

● United States to remain the most dominant market with absolute dollar growth opportunity of US$ 59.5 Bn during 2022 – 2032.

● The market in U.S is set to experience the highest CAGR of 16.7% during the 2022-2032 forecast period.

Competitive Landscape

The Software-Defined Data Center Market is highly concentrated, with a fewer competitors accounting for the vast majority of market share. The established firms are attempting to obtain supremacy in this sector. These firms are increasing their profits and market shares through smart joint projects.

Some of the recent developments in Software-Defined Data Center market include:

· In June 2021, NTT Limited revised its worldwide data Center interconnect network services, which are based on advanced SDN technology and are designed to optimize hybrid cloud settings. A globalized network fabric solution that allows for private and secure connectivity between NTT’s data Centers across the world and important cloud service providers.

· In May 2020, Huawei introduced the CloudFabric 2.0 Data Center cloud Network Solution, which includes new high-capacity CloudEngine data center switches, an improved AI-based iLossless methodology for dynamic congestion control, and autonomous driving features.

· In May 2020, VMware introduced Cloud Second Generation, a cloud service that combines the ease and agility of the public cloud with the protection and management of enterprise-grade on-premises infrastructure, was launched.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Software-Defined Data Center Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Software-Defined Data Center Market by Component (Hardware, Software, Services), Type (Software-Defined Computing, Software-Defined Storage, Software-Defined Data Center Networking, Automation and Orchestration), Organization Size (Large Enterprises, Small and Medium-sized Enterprises), Vertical (BFSI, IT and Telecom, Government and Defence, Healthcare, Education, Retail, Manufacturing, Others) across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

Market Segments Covered in Software-Defined Data Center Market Analysis

By Component

Software-Defined Data Center Hardware
Software-Defined Data Center Software
Software-Defined Data Center Services
- Training and Consulting
- Integration and Deployment
- Support and Maintenance
- Managed Services

By Type:

Software-Defined Computing (SDC)
Software-Defined Storage (SDS)
Software-Defined Data Center Networking (SDDCN)
Automation and Orchestration

By Organization Size:

Large enterprises
Small and Medium-sized Enterprises (SMEs)

By Vertical:

BFSI
IT and Telecom
Government and Defense
Healthcare
Education
Retail
Manufacturing
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Satellite Modem Market 2022 Future Analysis, Demand by Regions and Opportunities with Challenges 2032

The satellite modem market is poised for remarkable growth in the coming years, with a projected CAGR of 15.4% expected to drive significant expansion through 2032 This surge in demand is forecasted to translate into a substantial revenue increase, with market experts estimating a staggering US$ 1,890 million in revenue by the year 2032

The rise of satellite modems can be attributed to their crucial role in facilitating high-speed data transmission, particularly in remote and hard-to-reach areas, making them an essential component of modern communication infrastructure. As the global need for reliable and efficient data connectivity continues to expand, the satellite modem market is set to play a pivotal role in meeting these demands, further bolstering its growth prospects in the coming years.

Satellite Modem Market: Drivers and Restraints

The rising demand for enriched high-speed data communication is one of the major factors driving the satellite Modem market. These Modems have widespread usage, especially among mobile and telecom operators. Moreover, the rising demand for satellite communication in the telecommunication industry for high-speed secured connection is also turning out to be the major factor positively driving the satellite Modem market.

Enterprises are facing difficulties in meeting the rising demand for high bandwidth applications which is turning out to be the major challenge faced by most of the vendors in the satellite modem market.

Global Satellite Modem Market: Regional Outlook:
Based on geography, the Satellite Modem market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and the Middle East & Africa.

Among various regions, the Satellite Modem market in North America is expected to dominate during the forecast period owing to the growing demand for satellite communication to make critical decisions that are based on video and voice communications in military applications. North American region is expected to be followed by Western Europe, Japan, and APAC.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, applications, and industries.

Leading Key Players:

The major players operating in the Satellite Modem market include ORBCOMM INC, ViaSat Inc., Gilat Satellite Networks Ltd., Newtec Cy N.V., Datum Systems Inc., Teledyne Paradise Datacom NovelSat, Comtech EF Data Corporation., Advantech Wireless, and WORK Microwave GmbH.

Key Segments Profiled in the Satellite Modem Market Survey

By Data Rate:

High-Speed Data Rate Modem
Mid-Range Data Rate Modem
Entry Level Data Rate Modem

By Application:

Mobile & Backhaul
Offshore Communications
Tracking & Monitoring
IP Trunking

By End User:

Military & Defense
Energy & Utilities
Oil & Gas
Transportation & Logistics
Marine
Mining
Telecommunication

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa (MEA)
Europe

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Remote Home Monitoring Systems Market is Expected to Reach a Valuation of US$ 85,727.3 Million by 2032 | FMI

The market for remote home monitoring systems is projected to grow at a CAGR of 15.1% over the course of the forecast period, from US$ 20,351.5 Million in 2022 to US$ 85,727.3 Million by 2032.

The benefits of remote patient monitoring (RPM) in terms of lessening the burden on medical resources, the monitoring benefits of telehealth and other remote patient monitoring services, technological advancements, an ageing population, and an increasing demand for universal healthcare are just a few of the factors driving the growth of the remote home monitoring systems market.

Throughout the forecast period, regulatory apathy and challenges in various regions, informal competition, and other factors are anticipated to hurt the remote home monitoring systems market’s growth.

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Remote home monitoring systems refer to a set of devices and services that allow homeowners to remotely monitor and manage their homes using a smartphone, tablet, or computer. These systems typically include cameras, sensors, and other devices that are connected to a central hub, which can be accessed through a mobile app or a web portal.

The remote home monitoring systems market has seen significant growth in recent years, driven by factors such as the increasing adoption of smart home technologies, the growing popularity of home automation, and the rise in home security concerns.

The remote home monitoring systems market is segmented by component, offering, type, and region. The component segment includes hardware, software, and services. The offering segment includes DIY and professional services. The type segment includes safety and security, energy management, and home automation. The safety and security segment is further segmented into video surveillance, intrusion detection, fire protection, and access control.

North America is expected to dominate the remote home monitoring systems market, followed by Europe and the Asia Pacific region. The growth in North America is driven by factors such as the high rate of adoption of smart home technologies, the presence of key players, and the growing concerns around home security and safety.

How is the Competitive Landscape in the Remote Home Monitoring Systems Market?

The primary trend in the remote home monitoring systems market is the improvement of currently available technologies, the introduction of new products, the expansion of product portfolios, and mergers or strategic alliances with healthcare facilities.

The remote home monitoring systems market is highly fragmented on a global scale, with the majority of the world’s manufacturers originating in industrialized nations.

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Key Players

Honeywell International Inc.
Ooma, Inc.
IBM Corporation
SimpliSafe, Inc.
General Electric Company
Bosch Security Systems, Inc
Schneider Electric S.E.
Tyco International Ltd
Nortek Security & Control, LLC.
Control4 Corporation

Key Segments

Sensor Type:

Motion sensors
Water sensors
Glass sensors
Door Sensors
Environmental Sensors
Others

Product:

Electronic and smart locks
Alarms
Security cameras
Security solutions
DIY home security
Sensors
Detectors
Others

Platform:

Mobile
Desktop

Operating System:

Android
iOS
Windows

Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Remote Asset Management Market 2022 Future Analysis, Demand by Regions and Opportunities with Challenges 2032

The remote asset management market is expected prone to record a CAGR of 10.9% during the figure time frame, up from US$ 25,219.8 Mn in 2022 to arrive at a valuation of US$ 75,553 Mn by 2032.

Progression of sensor innovation, cloud innovation and high level remote advances have been set out new open doors in the market. As everybody realizes that many ventures are looking for new imaginative answers for decrease their functional expense and increment ROI.

Ventures need to comprehend what are affecting on lessen functional expense. Thusly, the vast majority of the ventures are moving towards remote asset management answer for lessen their functional costs.Remote asset management, which includes a remote server intended to get and handle approaching information from fixed or portable specialized gadgets wherein the information is connected with explicit remote asset management applications.

Remote asset management helps with assettracking, observing and dealing with association’s asset continuously for compelling use, prescient support, and practical activity bringing about better returns.

Remote asset management assembles data connected with assets from sensors applied to gadgets. Remote asset managementincludes sensors and microchips fixed in the remote asset and a correspondences part that gathers and moves information to focal management frameworks.

Web Protocol innovation is the most recent innovation applied in remote asset management in the modern area which helps in lessening expenses and entanglement of checking remote tasks.

Remote Asset Management Market: Market Dynamics

Increasing IoT adoption for effective asset management, intelligent infrastructure, real-time monitoring of assets creates opportunities for remote asset management market

Real-time data connectivity owing to adoption of sensor technology increase the demand for remote asset management solution s and reduced operational cost due to innovative solutions major factors which boost the demand for remote asset management solution in the market.

It is begin observed that most of the enterprises are facing security threats and fault recovery issues while adopting remote asset management solution therefore the demand for remote asset management solution has been declined.

Global Remote Asset Management Market: Competition Landscape

Few prominent players in Remote Asset Management market include AT&T Inc., Ascent Intellimation Pvt. Ltd, IBM Corporation, SAP SE, Rockwell Automation, Inc.,Cisco Systems, Inc., SuccorfishM2M Ltd, Bosch Software Innovations GMBH, Hitachi, Ltd., Meridium, Inc., Schneider Electric SE, Siemens, Infosys Limited, Northbit GmbH, Verizon Communications, Inc. and Vodafone Group PLC.

Recent Developments

Customers of remote asset management systems are utilizing a variety of organic and inorganic approaches, such as mergers and acquisitions and new product launches and alliances to increase their market share. As an example, Cisco Systems Inc. purchased Kenna Security Inc. in May of that year. This deal will help Cisco change its security and IT telecommunications to reduce cyberattacks.

Remote Asset Management Market: Regional Outlook

North America is estimated to dominate the remote asset management market owing to technological advancements due to robust internet infrastructure. The need for better operational efficiency and business process at a low operating cost is expected to drive continuous growth in the remote asset management market.

APEJ is projected to grow at the highest CAGR during the forecast period followed by Western Europe in remote asset management market owing to the greater adoption of IoT technology in remote asset tracking in this region.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology, and applications.

Key Segments

By Communication Type:

Fixed communication
Mobile communication

By Application:

Predictive maintenance
Building automation
Production monitoring
Vehicle tracking
Analytics
Performance management
Remote programming of consumer devices
Air conditioner monitoring

By End-User Industries:

Logistics
Mining
Government
Fisheries
Healthcare
Oil & gas
Utilities
BFSI
Manufacturing
Retail & consumer goods
Automobiles
Information technology
Telecommunication

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa (MEA)
Europe

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Procure-to-Pay Solution Market to Hit US$ 15.07 Bn by 2034 | 7.4% CAGR Growth

The global procure-to-pay solution market is set to experience significant growth over the next decade. Estimated at US$ 7,405.5 million in 2024, the market is projected to nearly double by 2034, reaching US$ 15,078.7 million. This represents a compound annual growth rate (CAGR) of 7.4% from 2024 to 2034. The market’s expansion is primarily driven by the rising demand for streamlined procurement processes, increased adoption of automation tools, and an overall focus on improving operational efficiency within organizations.

The adoption of procure-to-pay (P2P) solutions across industries such as manufacturing, retail, and healthcare is accelerating as businesses seek to enhance supplier collaboration, minimize costs, and increase transparency in their financial processes. Integration of advanced technologies like AI and data analytics is further propelling the market growth, enabling real-time decision-making and process automation.

Key Takeaways from Market Study

The procure-to-pay solution market is expected to grow at a CAGR of 7.4% from 2024 to 2034.
The market will expand from US$ 7,405.5 million in 2024 to US$ 15,078.7 million in 2034.
Rising demand for process automation and enhanced supplier management are key drivers.
Cloud-based solutions will dominate the deployment model due to their scalability and cost-efficiency.
Major industries adopting procure-to-pay solutions include manufacturing, retail, and healthcare.

Drivers and Opportunities

The surge in demand for automation across procurement and finance departments is one of the primary drivers of the procure-to-pay solution market. As businesses aim to optimize their procurement processes, reduce manual intervention, and gain real-time visibility into their expenditures, the demand for procure-to-pay solutions is expected to grow. The ability of these solutions to integrate procurement with payment processes, streamline workflows, and reduce cycle times presents a significant opportunity for businesses looking to enhance operational efficiency.

Furthermore, artificial intelligence (AI) and data analytics are creating new opportunities for innovation in this space. AI-enabled solutions can help organizations identify cost-saving opportunities, predict supply chain disruptions, and automate routine tasks, while advanced analytics provide insights into spending patterns and supplier performance.

Components Insights

The software segment continues to dominate the market, offering key features such as purchase order management, invoice processing, and supplier management. This is complemented by the services segment, which includes consulting, implementation, and maintenance services. As businesses continue to adopt procure-to-pay solutions, the demand for customization and integration services will grow, helping organizations tailor their solutions to meet unique procurement needs.

Cloud-based solutions are gaining a significant share of the market due to their scalability, flexibility, and cost-effectiveness. On-premises solutions, while still used by larger enterprises with stricter data control requirements, are expected to see slower growth as businesses shift toward SaaS (Software as a Service) models.

Application Insights

Procure-to-pay solutions are seeing wide-scale adoption across various industries. Manufacturing continues to be one of the largest adopters due to its complex procurement processes and need for streamlined supplier relationships. Retail and healthcare are also significant sectors driving demand for P2P solutions, with a focus on improving inventory management, compliance, and reducing procurement-related errors.

The finance and procurement departments in these industries are leveraging these solutions to reduce operational inefficiencies, automate invoice processing, and improve supplier payment processes. As a result, businesses are experiencing improved financial accuracy and better supplier collaboration.

Deployment Insights

Cloud-based deployment models are expected to dominate the procure-to-pay solution market, driven by their scalability, ease of integration, and lower initial costs. By 2034, cloud-based solutions are anticipated to account for the majority of the market share, with businesses opting for SaaS-based models to gain access to the latest updates and functionalities with minimal IT infrastructure investment.

On-premises deployment, while still relevant, is gradually losing favor as businesses increasingly prefer the flexibility and remote access capabilities offered by cloud platforms. However, certain large enterprises and organizations with stringent data security requirements may continue to opt for on-premises solutions.

Key Companies & Market Share Insights

The procure-to-pay solution market is highly competitive, with key players focused on expanding their product offerings and improving the capabilities of their platforms through innovation and strategic partnerships. Major companies operating in the market include:

SAP SE
Oracle Corporation
Coupa Software Inc.
Basware Corporation
Ariba Inc.
GEP Worldwide
Jaggaer
Tradeshift

These companies are investing heavily in R&D to introduce innovative features such as AI-driven automation, data analytics, and cloud-native capabilities to enhance the overall user experience and improve procurement efficiency.

Recent Developments

July 2024: SAP SE launched its next-generation cloud-native procure-to-pay solution, enhancing real-time analytics and supplier collaboration features.
May 2024: Coupa Software expanded its AI-powered procurement suite, introducing predictive analytics and automation capabilities designed to reduce procurement cycle times.
November 2023: Oracle Corporation announced the acquisition of a key AI-based procurement platform to strengthen its cloud-based procure-to-pay solutions.

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