Market Research Blog – Page 11368 – New Product Development

Document Capture Software Market is Expected to Garner US$ 17.1 Billion by 2032 | FMI

The global document capture software market is estimated to secure US$ 17.1 Billion while recording a CAGR of 8.5% during the forecast period from 2022-2032. The market is valued at US$ 6.9 Billion in 2021 and is expected to garner US$ 7.6 Billion in 2022. Growth can be attributed to the rising penetration of IoT and rising adoption of cloud computing technology. Rising demand for SaaS-based document capture software is expected to fuel the market in the coming time.

SaaS-based services offer a model which facilitates pay-per-use, which boosts the demand for the same, thereby, benefitting the industry in the forecast period. In addition, growing awareness about risks associated with legal liability with compliance needed in IT, transportation sector, and FMCG sector is another factor propelling the industry growth. Document capture solutions are gaining significant traction to cater to the routine document imaging needs for sectors like healthcare, finance, education, insurance, and transportation.

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On the contrary, growing issues associated with professional expertise, scalability, and automation are likely to hamper the market growth. However, increasing adoption of cloud computing technology in companies is anticipated to counter impeding factors and boost the market significantly.

Key Takeaways from the Market Study

The global document capture software market to value US$ 6.9 Billion in 2021
The global document capture software market to expand at 8.5% CAGR from 2022-2032
The hybrid segment to record 8.8% CAGR during the forecast period
The Large Enterprises segment to exhibit 8.3% growth rate during the assessment period
The U.S market size to reach USD 5.3 Billion by 2032, growing at an 8.4% CAGR
Chinese market to value USD 1.1 Billion during the forecast period
Market in India to secure US$ 1.4 Billion from 2022-2032

Competition Analysis

Key players in the global document capture software market include Adobe Systems Software Ltd., ABBYY Software, Artsyl Technologies Inc, Canon Inc., and IBM Corporation, among others. Players in the market take various initiatives to expand their reach in the global market. Some of the methods comprise partnership, mergers and acquisitions, and others. Recent key developments among players are:

In December 2019, Hyland Software, Inc. announced a partnership with Vertec Scientific to create a robust set of solutions that offers operational efficiencies for clinicians.
In September 2019, Ephesoft, Inc. announced a collaboration with Automation Anyware to combine document capture and RPA technologies. The combination can resolve amorphous data and ECM’s (Enterprise Content Managers) complicated problems.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global document capture software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

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Key Segments Covered In The Document Capture Software Market Report

Document Capture Software by Deployment:

Cloud-based Document Capture Software Deployment
On-Premise Document Capture Software Deployment
Hybrid Document Capture Software Deployment

Document Capture Software by Organization Size:

Document Capture Software for Small and Medium Enterprises
Document Capture Software for Large Enterprises

Document Capture Software by Solution:

Multiple-Channel Document Capture Software
Cognitive Document Capture Software
Mobile Document Capture Software
Other Document Capture Software Solutions

Document Capture Software by Industry:

Document Capture Software for Retail
Document Capture Software for Banking
Document Capture Software for Financial Services & Insurance
Document Capture Software for Telecom & IT
Document Capture Software for Healthcare
Document Capture Software for Transportation & Logistics
Document Capture Software for Energy
Document Capture Software for Other Industries

Document Capture Software by Region:

North America Document Capture Software Market
Europe Document Capture Software Market
Asia-Pacific Document Capture Software Market
Middle East & Africa Document Capture Software Market
South America Document Capture Software Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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AC-DC Controller Market is Projected to Reach US$ 13,422 Million During 2022- 2032

The overall market for AC-DC Controller market is expected to reach a worth pool of US$ 6,544 Million of every 2022. From 2022-to 2032, the market is supposed to extend at a CAGR of 7.4% while collecting a market esteem worth US$ 13,422 Million. The development of the business can be ascribed to the expanded utilization of AC-DC controllers in LED lighting applications.

AC-DC controllers are widely adopted by most of the enterprises that are manufacturing and dealing in consumer electronics products. The new generation AC-DC controller is a highly efficient control IC which has several advance features such as cost effective ultra-low standby power, high active mode efficiency and power factor correction. Now-a-days, AC/DC controllers like dual PWM controller are integrated with AC/DC power supplies in order to improve overall performance and efficiency of power supplies.

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AC-DC Controller Market: Drivers and Restraints

The rising usage of AC-DC controller in LED lighting applications is turning to be the major factor driving the growth of AC-DC controller market. Moreover, rising adoption of AC-DC controller in industrial applications is also driving the demand of AC-DC controller market in positive manner.

Achieving high efficiency across load line is turning to be the major challenge faced by most of the vendors in AC-DC controller market.

Global AC-DC Controller Market: Competitive Landscape

Key Players

The major player operating in AC-DC Controller market includes ON Semiconductor, NXP Semiconductors, Infineon Technologies, Inc., Texas Instruments Incorporated, Diodes Incorporated, Campbell Scientific, Inc., ROHM Semiconductor, Richtek Technology and Curtiss-Wright etc.

Recent Development

In January 2014, Rohm which is an electronic parts manufacturer based in Japan has launched a high-efficiency AC/DC converter. The main objective of this launch was to integrate PFC (power factor correction) and QR (quasi resonant) controllers into single package which is suitable for 100 W- class equipment such as industrial power supplies.

Global AC-DC Controller Market: Regional Outlook

On the basis of geography, AC-DC controller market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the AC-DC controller market in North America is expected to dominate during the forecast period owing to the huge presence of large scale semiconductor industry in this region. North America region is expected to be followed by Western Europe, Japan and APAC.

In Europe and Asia pacific region, the market of AC-DC controller is significantly growing owing to their rising demand in several industrial and automotive applications.

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Key Segments Profiled In The AC-DC Controller Market

AC-DC Controller Market by Type:

Isolated AC-DC Controllers
Non Isolated AC-DC Controllers

AC-DC Controller Market by Output Power:

AC-DC Controllers from 0-25 W
AC-DC Controllers from 25-50 W
AC-DC Controllers from 50-75 W
AC-DC Controllers from 75-150 W
AC-DC Controllers from 15-500 W
AC-DC Controllers more than 500 W

AC-DC Controller Market by Application:

AC-DC Controllers for Automotive Applications
AC-DC Controllers for Industrial Applications
AC-DC Controllers for Commercial Applications
AC-DC Controllers for Healthcare
AC-DC Controllers for Other Applications

AC-DC Controller Market by Region:

North America AC-DC Controller Market
Latin America AC-DC Controller Market
Europe AC-DC Controller Market
Asia Pacific AC-DC Controller Market
Middle East & Africa AC-DC Controller Market

About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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Weatherization Services Market likely to surge at a vigorous 3.8% CAGR during 2022 – 2028

The market for weatherization services will increase 4.0% annually until it reaches US$35 billion by the end of 2022. Weatherization improves energy efficiency while reducing energy consumption, resulting in lower energy costs and increased home comfort.

Weatherization services, which include energy audits and building assessments, the installation of heating and cooling systems, and the improvement of indoor air quality, are affordable and energy-efficient solutions. Based on these variables, it is predicted that between 2022 and 2028, the demand for weatherization services will grow at a 3.8% CAGR.

In terms of geography, North America is expected to continue to be a lucrative market for weatherization services over the projection period. Demand from the residential and commercial sectors is rising, which is causing the area to grow.

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Global Weatherization Services Market: Dynamics

Recovery in the construction industry across the globe is being accelerated by the steady growth in population, which is resulting in growing demand for construction materials, for both residential and non-residential buildings. This, in turn, will propel the growth of the weatherization services market across the globe.

The U.S. Department of Energy (DOE) recognizes enormous potential for improving energy efficiency, safety and comfort of the existing American homes. According to DOE, heating & cooling (Space conditioning) accounts for about 50%-60% of the total energy consumption in an average American home.

Hence, rising adoption of insulation in residential or home buildings is one of the major factors fueling the demand for insulation installations, consequently also contributing to weatherization services market’s growth.

Energy resources are limited, every unit saved is equivalent to every unit produced and this is where the role of efficient weatherization services comes into play. An array of initiatives are being taken up by various states and federal governments across the globe to reduce CO2 emissions.

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More importantly, growing public awareness about climate change has proliferated the need for renewable energy systems and reducing energy waste. This factor is positively impacting the Global weatherization services market.

Further, to curb carbon dioxide emissions, the use of lightweight insulation materials with promising mechanical properties, such as stiffness, rigidity, elevated temperature durability and chemical resistance, is expected to increase. Thus, in order to gain competitive edge, key players are likely to invest significantly to develop high-performance insulation products in the weatherization services market.

Global Weatherization Services Market: Segmentation Overview

On the basis of application, the sidewall insulation segment dominates the global weatherization segment market. While the segment is projected to lose market share to attic insulation segment by the end of THE forecast period, it is yet expected to maintain its prominence during the forecast period. Foam insulation is expected to be the prime material preferred for various applications and its popularity will be followed by the popularity of fiberglass for various applications in the global weatherization services market
On the bases of construction type, the weatherization services market has been segmented into new construction and retrofit segments. The new construction segment dominated the Weatherization services market in 2017 and is expected to gain further traction owing to the steady growth of the construction industry
On the bases of end use, the weatherization services market has been segmented into residential and commercial & institutional. The commercial & institutional segment is expected to witness 1.5X growth in the global weatherization services market over the forecast period.

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Global Weatherization Services Market: Regional Overview

Western Europe, followed by North America, dominated the global weatherization services market in 2017. However, over the course of the forecast period, the Western Europe weatherization services market is estimated to lose its dominance to North America weatherization services market. North America and Western Europe are collectively expected to account for over half of the global weatherization services market.

Further, the top 5 countries in the Weatherization services market account for about half of the overall market. The weatherization services market is expected to witness significant growth in developing economies over the forecast period.

Global Weatherization Services Market: Vendor Insights

The report highlights some of the leading companies operating in the global weatherization services market, such as TopBuild Corp, Insulated building products, Inc., Builders FirstSource, Inc., Takashima & Co., Ltd., Dyson Energy Services Ltd., HomeWorks Energy, Inc., USA Insulation, Banker Insulation and Anderson Insulation.

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Debt Collection Software Market 2022 Key Players, End User, Demand and Consumption by 2032

The global debt collection software market is projected to rise at a CAGR of 9.7% throughout the forecast period. The debt collection software market size is anticipated to grow from US$ 3.8 Bn in 2022 to US$ 9.6 Bn in 2032. The expansion of the debt collection software market is being fuelled by enterprises’ increasing desire for better debt recovery. Financial institutions are restructuring their debt collection process to minimize the timing of the money collection, which is leading to savings of about 30.0 per cent of the expenditures related to it.

Debt collection software aids in the automatic and daily monitoring of customers’ accounts, as well as the provision of loan installation notifications and alerts. This enables financial institutions to provide timely updates and cautions about loan Equated Monthly Instalments (EMI).

Debt collection software also assists financial institutions in complying with consumer protection regulations by recognizing bankruptcy status and litigious customers. As a result, the debt collection software market is fast growing.

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Debt collection services are gaining popularity as a result of their ability to assist businesses with strategy formulation, software deployment, and implementation based on their unique needs. As a result, a rise in the use of debt collection software across various industries, such as collection agencies, financial institutions, government, telecom & utilities, real estate, commerce, and healthcare, is supporting the growth in the sales of debt collection software.

As per the recent debt collection software market study, several firms from various industry verticals are rising in demand for multichannel communication solutions to communicate with debtors and advance their collection methods using cutting-edge automated technologies. This reason is increasing the sales of debt collection software, which is propelling the debt collection software market’s growth.

The adoption of debt collection services is expanding among major businesses, as opposed to small and medium-sized businesses, due to economies of scale and pricing. This indicates that the market is expected to attract excellent sales opportunities from significant corporations around the world.

Key Takeaways

Data analytics with debt collection solutions is a trend that is projected to gain pace in North America, particularly in the United States, shortly. Debt collection software providers understand the importance of big data analytics and predictive analytics in debt collection, as well as the advantages of data visibility in terms of compliance.
The software component segment of the debt collection software market is expected to rise at a CAGR of 9.3% throughout the forecast period.
The increasing willingness of businesses to use debt collection software to streamline the debt recovery process is expected to drive demand for debt collection software solutions in the Asia Pacific.
The US debt collection software market size is projected to reach a valuation of US$ 3.3 Bn by 2032.

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Competitive Landscape

As per the debt collection software market analysis by FMI, the global debt collection software market appears to be moderately fragmented in character. Furthermore, the presence of a large number of vendors demonstrates that the market for debt collection software is highly competitive.

As a result, to keep ahead of the competition, key market players are implementing various strategies such as mergers, acquisitions, partnerships, and collaborations. Companies are also benefiting from these techniques as they expand regionally.

Many organizations in the debt collection software market are boosting their research and development spending. One of the main goals of these studies is to improve the quality of the services they offer. These initiatives are expected to help the debt collection software market grow in the coming years.

FIS, Nucleus Software Exports Ltd., Scorto, Inc., Temenos Headquarters SA, CGI, Inc., TransUnion LLC, Sentinel Development Solutions, Inc., Debtcol Software Pty Ltd., Intellect Design Arena Ltd., and Chetu Inc. are some of the key companies operating in the global debt collection software market.

Key Segments

By Component:

Software
Services

By Deployment:

Cloud-based
On-premise

By Organization Size:

SMEs
Large Enterprises

By End user:

Healthcare
Financial Institution
Collection Agencies
Government
Telecom & Utilities
Other

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By Region:

North America
Europe
APAC
MEA
Latin America

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Automatic Identification and Data Capture Market Predicted CAGR of 10.6% During Forecast Period 2022-2032

Automatic Identification And Data Capture Market: Globally technology providers are increasingly focusing on reducing the human involvement in non-intelligent and basic machine based transactions. Development and adoption of systems that perform a set of transactions based on predefined triggers is on the rise. The market for automatic identification and data capture is expected to be worth US$ 48,453.0 million in 2022 and US$ 132,722.0 million by 2022, growing at a CAGR of 10.6 percent.

Such systems referred as Automatic Identification & Data Capture are at the basis of developing trends such as Industrial Automation, Retail Automation and Biometric Authentication. Automatic Identification & Data Capture tools such as RFID, Barcode Scanners and Biometric systems are facing an upsurge in adoption under this scenario.

Automatic Identification & Data Capture is a method of identification and detection of objects and data based on set of predetermined conditions. Software solutions, hardware components and devices such as Magnetic Stripes, Smart Cards and biometric readers are a part of Automatic Identification & Data Capture market.

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Automatic Identification & Data Capture Market: Drivers & Challenges

Fast moving industry of e-commerce depends on the accuracy and speed of movement of merchandise. Moreover the e-commerce industry is becoming increasingly competitive where cost minimization is of paramount importance. This presents a lucrative opportunity for the Automatic Identification & Data Capture market to capitalize on.

Similarly Retail industry is also heavily investing on automation solutions built on top of Automatic Identification & Data Capture tools. This is helping Automatic Identification & Data Capture gain rapid penetration in retail markets.

A huge chunk of a retail outlet’s total sale is contributed by low value products and it is therefore economically unviable to use technologies such as RFIDs and 2D barcodes which are at the base of developments in Automatic Identification & Data Capture market. This is true for many other industries too where the cost of large scale implementation is impeding the growth of Automatic Identification & Data Capture Market.

Automatic Identification & Data Capture Market: Regional Overview

North America is expected to lead the Automatic Identification & Data Capture Market in terms of value owing to high adoption of application areas such as E-Commerce, Retail Automation, Industrial Automation and Identity & Access Management. Automatic Identification & Data Capture Market is also expected to gain considerable traction in Asia Pacific region due to growing investment in digitization and urbanization.

Automatic Identification & Data Capture Market: Competitive Landscape

Automatic Identification & Data Capture Market :Key Contracts/Agreement/Acquisitions
- In August 2016, Datalogic S.p.A, a leading player in the Automatic Identification & Data Capture Market partnered with StayLinked Corp. to leverage Staylinked’s SmartTE software in their data collection solutions
Automatic Identification & Data Capture Market : Key Players
- Leading players in the Automatic Identification & Data Capture market include Shenzhen Unique Electronic International, Datalogic S.p.A, Honeywell International Inc., RIOTEC Co., Ltd., ZIH Corp., Synaptics Incorporated, CVISION Technologies, Inc., SATO Holdings Corporation and Toshiba TEC Corporation.

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Automatic Identification & Data Capture Market: Segmentation

Segmentation of Automatic Identification & Data Capture Market, By Technology

Barcodes
2D Barcodes
Magnetic Stripes
Smart Cards
(Radio Frequency Identification) RFID
Biometrics

ARM-Based Servers Market Expand at a CAGR of 12.4% & to Reach US$ 16, 714.6 Million by 2032

Software & hardware problems and compatibility issues are the challenges in Arm-based servers market. ARM is advanced RISC machine which is a network server that services a broad array of ARM processors rather than a complement of x86-class processors.

The market for ARM-based servers is expected to reach US$ 5,196.8 million in 2022 and is projected to increase at a CAGR of 12.4% from 2022 to 2032, when it is expected to reach US$ 16, 714.6 million.

ARM servers represent development in server-based computing. ARM server operates low-power processors that share processing tasks across hundreds of processors rather than controlling the workload through few processors. ARM server delivers high processing power using less energy and requires less cooling than similar technology based on x86-class processors, which plays a significant role in enterprise data centers.

An ARM processor belongs to CPUs based on the RISC (reduced instruction set computer) architecture developed by Advanced RISC Machines (ARM). ARM consists of 32-bit and 64-bit RISC multi-core processors. RISC (reduced instruction set computer) processors aimed at performing few computer instructions so that they can be operated at higher speed.

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ARM-based Servers Market: Market Dynamics

Low-energy chips based on ARM, mobile apps processors, rapid adoption of ARM in embedded intelligence, enterprise infrastructure, computing & thread density, high-performance workloads, energy efficiency, improved performance, highly integrated server chips are the drivers of ARM-based servers market.

Increase in adoption of ARM chips in smartphones, rise in growth of internet connected products, increased computing and servers, connectivity,real-time processors creates opportunities for ARM-based serversmarket

Innovation in mobile and computing, multi-core developments, system-on-chip (SoC), integrated management, software defined networking and increase in usage of ARM chips in IoT and wearables devices are the latest trends in ARM-based servers market.

Segmentation Overview

ARM-based serversmarket segmented into core type, operating system support, OS, application, products, verticals, and region. By core type, ARM-based serversmarket segmented into ARM Cortex-A cores and ARM Cortex-M Cores. By operating system support, ARM-based servers market segmented into 32-bit operating system and 64-bit operating system.

By OS, ARM-based servers market segmented into android, iOS, and windows. By application, ARM-based serversmarket segmented into mobile computing, 3D graphics, Internet of things, smart homes, wearables, sensors, enterprise and infrastructure networking and wireless communications.

By products, ARM-based servers market segmented into processors, graphics & multimedia, physical IP, IoT solutions, system IP, wireless IP, development tools and security solutions. By verticals, ARM-based serversmarket segmented into automotive, healthcare, telecommunication, Oil & gas, bioscience and industrial automation.

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ARM-based Servers Market: Competition Landscape

Few prominent players in ARM-based serversmarket include Cavium, Inc., Applied Micro Circuits Corporation,Huawei Technology Co. Ltd., IBM Corporation, Texas Instruments Incorporated, Marvell Semiconductor, Inc., ARM Holdings plc, Microsoft Corporation, Red Hat, Inc., HP Inc., Citrix Systems, Inc., SuSE Inc., Canonical Ltd, Linaro Ltd, Xilinx, Inc., LSI Corporation, Dell Inc, Advanced Micro Devices, Inc, Broadcom Corporation and QUALCOMM Incorporated.

ARM-based Servers Market: Regional Outlook

ARM-based servers market dominated by North America, Europe, and MEA regions. North America is expected to be a dominant player due to the vast presence of ARM-based server vendors and higher adoption of technology in its market. On the other hand, APEJ is expected to grow significantly as compared to other regions in ARM-based servers market in the forecast period.

Regional analysis for Global ARM-based Servers Market includes

North America ARM-based Servers Market
Latin America ARM-based Servers Market
Eastern Europe ARM-based Servers Market
Western Europe ARM-based Servers Market
Asia Pacific ARM-based Servers Market
Japan ARM-based Servers Market
Middle East and Africa ARM-based Servers Market

ARM-based Servers Market: Market Segmentation

Segmentation by core type in ARM-based Servers market:

ARM Cortex-A cores
ARM Cortex-M cores

Segmentation by operating system support in ARM-based Servers market:

32-bit operating system
64-bit operating system

Segmentation by OS in ARM-based Servers market:

Android
iOS
Windows

Segmentation by application in ARM-based Servers market:

Mobile computing
3D graphics
Internet of things (IoT)
Smart homes
Wearables
Sensors
Enterprise and infrastructure networking
Wireless communications

Segmentation by products in ARM-based Servers market:

Processors
Graphics & multimedia
Physical IP
Development tools
IoT solutions
System IP
Wireless IP
Security solutions

Segmentation by verticals in ARM-based Servers market:

Automotive
Healthcare
Telecommunication
Oil & gas extraction
Bioscience
Industrial automation

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5G Industrial IOT Market is Expected to Reach US$ 18.8 Bn by 2032 | Report by FMI

The 5G Industrial IOT market revenues were estimated at US$ 890.0 Mn in 2021 and are anticipated to grow at a CAGR of 28.1% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 18.8 Bn. 5G Industrial IOT revenue through large enterprises is projected to grow at a CAGR of nearly 28% during the period of projection.

5G Industrial IOT market plays a vital role in telecommunication and manufacturing industries and this trend is likely to be continued due to the predicted to reach US$ 18.8 Bn in 2032. Many telecommunication industries are implementing 5G technology for faster network connectivity and various software are adopted for a better-automated work environment.

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Key Takeaways from the Market Study

Global 5G Industrial IOT market is expected to reach a market size of US$ 18.8 Bn by 2032.
In 2022, 5G Industrial IOT Market is estimated to reach a valuation of US$ 1.6 Bn.
Among components, hardware shows the highest potential for growth. Revenue through 5G Industrial IOT hardware is expected to grow at a CAGR of about 27.9% during 2022- 2032.
China, the key market is expected to hold the prominent market share and grow at a CAGR of 27.3% during 2022 – 2032.

Competitive Landscape

A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.

In Mar, 2022, Ericsson & Vodafone UK cooperated to frame an organization cut on 5G SA involving single RAN work for high-transmission capacity and low-inertness network which can be conveyed for computer generated reality use case in a retail location.
In Mar, 2022, Cisco & Tech Mahindra announced their collaboration to modernize 5G infrastructure with routed optical networking. Cisco has expertise in routed optical fiber whereas Tech Mahindra has expertise in IP-based, software driven 5G networks.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the 5G Industrial IOT market, presenting historical market data (2019-2021) and forecast statistics for the period of 2022-2032.

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Market Segments Covered in 5G Industrial IOT Industry Analysis

By Component:

Hardware
Solution
Services

By Organization Size:

SMEs
Large Enterprises

By Application:

Predictive Maintenance
Business Process Optimization
Asset Tracking and Management
Logistics and Supply Chain Management
Real-Time Workforce Tracking and Management
Automation Control and Management
Emergency and Incident Management, and Business Communication

By End User:

Process Industries
Discrete Industries

By Region:

North America
Europe
Asia Pacific
MEA
Latin America

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Call Center AI Market is Poised to Increase at a Steady CAGR of 13.5% from 2022 to 2032 | FMI

The Call Center AI Market is poised to grow at a stable CAGR of 13.5%, reaching US$ 6 Billion by 2032 from US$ 1.3 Billion in 2021. Growing client involvement through social media platforms, as well as increased data collection through the Internet of Things (IoT), social media, and developments in imaging technologies, are major growth factors for the call centre AI market.

Due to the growing necessity for organizations to replace old infrastructure to build a more flexible approach to customer interaction during the COVID-19 pandemic, the usage of sophisticated call centre software solutions has surged. Customer engagement success has historically been judged by the precision and speed with which requests are addressed, which is driving demand for call centre AI.

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Factors such as the increased need for improved customer experience and response time, as well as greater data analysis capabilities, are influencing the global call centre AI market. Furthermore, the call centre AI market’s growth is being hampered by expensive installation and training costs, as well as privacy and security concerns.

In certain cases, responding to client inquiries in real-time might be challenging for a customer service representative, as customers may not understand the context of their inquiry. This has necessitated the development of better data analytics skills. The global call centre AI market is growing due to the requirement for better data analytics skills. During the forecast period, an increase in demand among contact centers to integrate social media platforms such as Facebook and Twitter to fulfill the organization’s aim of effective customer service programs is likely to give lucrative chances for call centre AI market expansion.

Platforms for social media have evolved into a vital component of modern businesses. Every firm has been increasing its social media presence in order to reach out to its customers more easily. With internet access and high social media penetration rates, a number of developing nations are seeing a population increase. As a result, firms must modernize how they reach out to customers and respond to their problems on social media platforms, as conventional customer service approaches are no longer applicable in the digital age.

Customers are increasingly using social media channels to communicate with businesses and discuss their experiences. Furthermore, factors such as a large client base, a large number of SMEs, the emergence of the e-commerce sector, and government measures promoting business process automation all contribute to the call centre AI market’s growth.

Key Takeaways:

The solutions from the call centre AI market are expected to grow at the fastest CAGR of 13.1% in the component sector.
 Cloud is expected to grow at a high rate in the deployment type sector of the call centre AI market, with a CAGR of 13.4%.
The market size for call centre AI in the United States is expected to reach US$ 2.1 Billion by 2032, growing at a CAGR of 13.4% during the research period.
 UK is expected to reach a market size of US$ US$ 282.1 Billion in the call centre AI market by 2032, with a CAGR of 12.7% during the research period.
China’s call centre AI market is expected to be worth US$ 346.4 Mn by 2032, with a CAGR of 13% over the forecast period.
 Japan is expected to have a market size for call centre AI of US$ 321.0 Mn by 2032, with a CAGR of 12.5% during the research period.
By 2032, South Korea is expected to reach a market size of US$ 210.8 Mn in the call centre AI market, with a CAGR of 12.1% during the research period.

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Competitive Landscape:

Major vendors in the call center AI market include IBM, Google, Microsoft, Oracle, and SAP.

Microsoft inaugurated the Africa Development Centre (ADC) in Kenya and Nigeria in May 2019 as part of its commitment to cloud technologies across the continent.
IBM and Regions Bank Corporation (US) teamed up in April 2019 to offer IBM Watson AI technology to help improve customer service and aid bankers in their daily duties. Regions Bank uses Watson Assistance in its contact centers to assist both customers and workers, ensuring a great customer experience.
Google updated Dialogflow in February 2019 to make it more dependable, scalable, and accurate. Improved system entity recognition and language support are the two most significant changes. These enhancements are available in both Dialogflow versions (standard and enterprise).

Key Segments

By Component:

Compute Platforms
Solutions
Services
- Training & Consulting Services
- System Integration & Deployment Services
- Support & Maintenance Services

By Deployment Type:

On-premises
Cloud

By Vertical:

BFSI
Media & Entertainment
Retail & eCommerce
Travel & Hospitality
Telecom
Healthcare
Others (Automotive, Government, Manufacturing, Education, and Energy & Utilities)

By Region:

North America
Europe
APAC
Middle East and Africa (MEA)
Latin Americ

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Automated Number Plate Recognition (ANPR) and Detection Sensors Market Rising at CAGR of 8.6% by 2032

Rigorously increasing population of vehicles is putting astounding pressure on the parking systems and facilities, throughout the world. Continuous surge in the number of vehicles demand for efficient vehicle management systems as well as parking systems.

Automated Number Plate Recognition and Detection is an important element of today’s efficient parking systems. Automated Number Plate Recognition and Detection Sensor are capable of recognizing the optical characters, and have alert capabilities to notify the operators in case of number match.

Moreover, soaring integration of parking spaces with automated technologies is also pushing the demand for Automated Number Plate Recognition and Detection Sensors in a positive manner. The global ANPR market is projected to generate US$ 1.768 Million by 2032, up from US$ 775 Million in 2022, with a CAGR of 8.6 percent.

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Automated Number Plate Recognition (ANPR) and Detection Sensor Market: Drivers and Restraints

In the present scenario, deployment of Automated Number Plate Recognition (ANPR) and Detection technology in traffic enforcement, and security & surveillance applications is witnessing traction, thus driving the Automated Number Plate Recognition and Detection Sensors market.

Furthermore, reinforcing traffic regulations and government initiatives to enhance road safety by increasing the implementation of Automated Number Plate Recognition and Detection systems is also turning to be one of the major driving factor in the Automated Number Plate Recognition and Detection Sensors market in a positive manner.

Ambiguous characters on number plates create turmoil in the recognition of vehicle numbers, and is presently a critical challenge in the industry.

Global Automated Number Plate Recognition (ANPR) and Detection Sensor Market: Regional Outlook

On the basis of geography, Automated Number Plate Recognition (ANPR) and Detection Sensor market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa.

Among various regions, the Automated Number Plate Recognition (ANPR) and Detection Sensor market in Europe is expected to dominate during the forecast period owing to the high technological innovation in Automated Number Plate Recognition and Detection Sensor technologies. Europe region is expected to be followed by North America and Asia Pacific.

Key Players

The major player operating in Automated Number Plate Recognition (ANPR) and Detection Sensor market includes Vigilant Solutions Inc., Siemens AG, Tattile Srl, Vysionics Intelligent Traffic Solutions Ltd., Q-Free ASA, and Bosch Security Systems.

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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Automated Number Plate Recognition (ANPR) and Detection Sensor Market: Market Segmentation

Global Automated Number Plate Recognition (ANPR) and Detection Sensor Market can be divided into three segments, on the basis of application, sensor type, and region.

Major segments of Automated Number Plate Recognition (ANPR) and Detection Sensor market on the basis of the application include:

Parking Management
Law Enforcement
Speed Enforcement
Low-emission zone charging
Others

The major segments of Automated Number Plate Recognition (ANPR) and Detection Sensor market on the basis of the sensor type include:

Radar
Video
Loop Detection
Infrared
Multi-Sensors
Others

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Dealer Management System Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2032

As per the analysis of FMI, the dealer management system market is projected to grow from US$ 8.2 Billion in 2022 to US$ 14 Billion in 2032 & is anticipated to have a steady CAGR of 5.5% during the period 2022-2032. The growing investment in dealer management systems, rising acceptance of cloud technology, and the move from paperwork to automation are propelling the dealer management system market forward.

Furthermore, rising demand for improved inventory management, improved sales tracking, enhanced CRM, improved commission and insurance calculation, and technological advancements in dealer management systems with the incorporation of artificial intelligence (AI) and data analytics capabilities will drive the global dealer management system market growth in the coming years. The COVID-19 pandemic condition caused several countries to implement lockdown in 2020, wreaking havoc on their companies and forcing the closure of vehicle dealerships.

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KEY TAKEAWAYS:

The On-Premise from the dealer management system market is expected to grow at the fastest CAGR of 5.1% in the deployment type sector.
Transport & Logistics is expected to grow at a high rate in the end user sector of the dealer management system market, with a CAGR of 6%.
The market size for dealer management systems in the United States is expected to reach US$ 4.3 Billion by 2032, growing at a CAGR of 6% during the research period.
United Kingdom is expected to reach a market size of US$ 0.9 Billion in the dealer management system by 2032, with a CAGR of 5.1% during the research period.
China’s dealer management system market is expected to be worth US$ 0.7 Billion by 2032, with a CAGR of 3.2% over the forecast period.
Japan is expected to have a market size for the dealer management system of US$ 0.7 Billion by 2032, with a CAGR of 6.2% during the research period.
By 2032, India is expected to reach a market size of US$ 0.6 billion in dealer management systems, with a CAGR of 7.1% during the research period.

A list of Key Players Covered in the Dealer Management System Market are:

Adam Systems
BiT Dealership Software, Inc.
Blue Skies Business Solutions Inc.
CDK Global LLC.
Dealertrack Inc.

Dealer management systems assist car dealers in staying current on dealer management system market trends and developments. As a result, the decline in dealer activity has slowed the growth of the dealer management systems market.

However, security worries stemming from a lack of cyber security safeguards are impeding dealer management system market expansion. Real-time insight, simpler company processes, and engaging customer engagement are all driving the worldwide dealer management system market forward.

Dealer management systems power new and used car sales, repair and maintenance services, consumer finance, and vehicle and parts inventory management. They also provide financial reporting, cash flow management, and payroll services.

The system connects to OEM data processing systems, allowing automobile merchants to order vehicles and components, process warranties, and receive vehicle records. The automobile industry’s widespread use of new dealer management systems is fueling dealer management system market expansion.

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Recent Developments

Tekion Corp. will launch the Automotive Retail Cloud, a cloud-based platform that includes all of the features of a dealer management system, in February 2020. It connects important industrial players, allowing them to enhance operational savings.
DealerSocket, Inc. announced the purchase of Auto/Mate, a dealer management system supplier for automobile dealerships, in January 2020. Combining Auto/powerful Mate’s dealer management system with DealerSocket’s goods, gives auto dealers a one-of-a-kind platform that combines innovative software with the best service.
CDK Global, Inc. will launch Neuron, a Big Data platform linked to the Fortellis automobile commerce exchange, in 2021. The Neuron is intended to transform large amounts of industry data into useful insights for dealers, original equipment manufacturers (OEMs), and third-party software developers.
Integrated Dealer Systems (IDS) will introduce Service360 in 2020 to assist dealers in revolutionizing their service and reducing repair event cycle time (RECT). The IDS Service360 is a complete service solution that works in tandem with the IDS Astra G2 dealership management system.

Key Segments

By Deployment Type: