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[300 Pages Report] According to Future Market Insights, the global blood banking equipment market held a valuation of about US$ 14.2 Bn in 2021. As per the study, sales are expected to increase at a CAGR of 4.7% during the forecast period (2022-2032), surpassing US$ 23.4 Bn in 2032.

Need for blood components due to increasing surgical procedures and accidents has always been a matter of concern for blood banks and hospitals. In the U.K. the number of surgeries has been on the rise over the last few years. About 70,000 A&E cases were registered in 2019 in the country.  Such cases will mostly require surgical procedures and this will in turn demand more blood banking equipment and products.

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Increasing awareness about blood donation is the top priority of all blood transfusion centers. To address this issue, governments across the globe are offering several attractive reimbursement opportunities to volunteer donors.

For instance, the AABB promotes full insurance coverage and offers lucrative reimbursement that will support the patients’ access to blood products, transfusion services and cellular therapies. The blood banking equipment market will witness immense growth in the upcoming years if such policies are implemented by developing economies as well.

The development of the blood banking equipment market is reliant on automation in blood bank centers, the rising trend of mobile blood drives/ camps, government support and initiatives and an increasing number of blood donors.

Key Takeaways

• Blood collection products are expected to hold a 8% market value share in 2022 and are projected to display a CAGR growth of 4.8% over the forecast period.
• Hospitals hold a higher share in the blood banking equipment market by a value of about 3% in 2021.
• North America is slated to be the largest leading region with a value share of 2% at the end of the forecast period
• India is expected to lead the growth in South Asia blood banking equipment market during the assessment period.

“Rising prevalence of chronic blood-related disorders, along with increasing trend of blood donation drives will fuel the blood banking equipment market over the forecast period,” says an analyst of Future Market Insights.

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Market Competition

Acquisitions, partnerships, recognition and product launches are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies.

• Blood Collection: BD acquired Velano Vascular in July 2021 with the goal of adding breakthrough needle-free blood draw technology to alleviate the pain and discomfort of multiple needlesticks.
• Blood Processing: The novel plasma collection system developed by Terumo Blood and Cell Technologies received FDA approval in March 2022. Rika is a next-generation automated system that focuses on plasma centre personnel and donors’ experiences. It has safety features to reduce operator mistakes and harvests plasma in under 35 minutes.

Want More Insights

Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global blood banking equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the blood banking equipment market segment based on product– (blood collection [blood collection sets, blood bag tube sealer, blood collection mixer, blood bags, reagents, lancets, and others], blood processing [centrifuges, blood filters, blood bank analysers, blood warmers, and plasma thawing baths], blood storage [blood bank refrigerators, blood bank freezers, and test tube racks], and others), and end user (hospitals, and blood banks), across seven major regions.

Key Players :

• Medtronic
• BD Medical
• Boston Scientific
• Smith Medical
• Argon Medical Devices
• Novo Nordisk
• Terumo Corporation
• NIPRO Medical
• B. Braun Melsungen AG
• Medsurg
• Hamilton Syringes & Needles
• Hi-Tech Medicare Devices
• Abbott Laboratories
• Beckman Coulter, Inc.
• Becton, Dickinson and Company
• bioMérieux SA
• Bio-Rad Laboratories, Inc.
• Cerus Corporation
• CSL Behring LLC
• Fresenius Kabi AG

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Key Market Segments Covered in Blood Banking Equipment Industry Research

By Product:

• Blood Collection
  • Blood Collection Sets
  • Blood Bag Tube Sealer
  • Blood Collection Mixer
  • Blood Bags
  • Reagents
  • Lancets
  • Others
• Blood Processing
  • Centrifuges
  • Blood Filters
  • Blood Bank Analysers
  • Blood Warmers
  • Plasma Thawing Baths
• Blood Storage
  • Blood Bank Refrigerators
  • Blood Bank Freezers
  • Test Tube Racks
• Others

By End User:

• Hospitals
• Blood Banks

About 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.

Contact Us:
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[300+ Pages Report] As per Future Market Insights’ latest revised industry analysis, the global cancer gene therapy market is projected to expand at a 10.1% CAGR over the forecast period, with the market size reaching US$ 5.3 Bn in 2032.

Gene therapy is a field of medicine that aims to cure or greatly improve the treatment of diseases that have few or no treatment options. Advanced-stage cancer and hematological illnesses make up a large share of gene therapy candidates. In addition to this, gene therapy is frequently used to treat rare or inherited diseases.

While gene therapy research is still in its early stages, firms are increasingly investing in the technology. A handful of products have recently received approval outside of Canada or are in the final stages of clinical trials.

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Gene therapy is currently extremely expensive. Multi-stakeholder discussions about pricing and reimbursement management for these goods are required. To provide accessibility and quality of care, specialized manufacturing facilities, care centers, and doctors skilled to undertake specific procedures for such therapies are required.

The growth in the cancer gene therapy market is reliant on increasing awareness about health, the growing incidence of cancer, and the latest advancements in cancer gene therapy.

“Rising awareness regarding cancer gene therapy across emerging economies, along with favorable healthcare reimbursement plans in various countries will create opportunities for growth in the market over the forecast period,” says an FMI analyst.

Key Players :

• Merck KGaA
• Novartis AG
• AstraZeneca Plc.
• BIOCAD
• Crinetics Pharmaceuticals, Inc.
• EffRx Pharmaceuticals S.A.
• Euroscreen S.A.
• Vicore Pharma AB
• Amgen
• Bristol-Myers Squibb
• Cell Genesys Inc.
• Adaptimmune Therapeutics plc.
• Achieve Life Science Inc.
• BioCanCell Ltd.
• Genelux Corporation
• Advantagene Inc.,
• GenVec Inc.
• GlaxoSmithKline PLC
• Amgen Inc.

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Key Takeaways:

• Based on therapy, the oncolytic virotherapy segment accounted for about 3% of the total market share in 2021.
• In terms of indication, sales in the breast cancer segment are forecast to grow at a CAGR of 7% in the forecast period.
• By service provider, demand in the hospitals segment will grow at a 9.3% CAGR through 2032.
• The U.S. will dominate the North America cancer gene therapy market over the forecast period.
• China will emerge as a lucrative pocket, accounting for 32.3% of the East Asia cancer gene therapy market share over the assessment period.
• Demand in Germany is expected to increase at a 11.9% CAGR over the assessment period.

Competition Landscape

Acquisitions, partnerships, geographical recognition, and product launches are the key strategies adopted by leading players to increase the consumer base. For instance:

• In March 2022, Novartis and Carisma Therapeutics agreed to collaborate on the development of HER 2 targeted CAR-M cell therapy.
• A2 Biotherapeutics and Merck announced a collaboration in December 2020 to develop allogeneic cell therapy for solid tumor cancers.

Want More Insights

Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global cancer gene therapy market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the cancer gene therapy market segment based on therapy – (gene induced immunotherapy, oncolytic virotherapy, gene transfer, and others), by indication (breast cancer, ovarian cancer, liver cancer, pancreatic cancer, lung cancer, and prostate cancer), by service provider (hospitals, clinical research laboratory, and oncology institutes), across seven major regions.

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About Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business.

Key Market Segments Covered in Cancer Gene Therapy Industry Research

By Therapy:

• Gene Induced Immunotherapy
• Oncolytic Virotherapy
• Gene Transfer
• Others

By Indication:

• Breast Cancer
• Ovarian Cancer
• Liver Cancer
• Pancreatic Cancer
• Lung Cancer
• Prostate Cancer

By Service Provider:

• Hospitals
• Clinical Research Laboratory
• Oncology institutes

About 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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
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Dubai,
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The network analytics market share is anticipated to account for US$ 14.4 Billion in 2032, up from US$ 2.5 Billion in 2022, advancing at a CAGR of 19.3% during the forecast period from 2022 to 2032.

Demand for network analytics applications is likely to boost due to preventing and detecting errors & solve security threats. The IT companies are likely to improve the data security, predict traffic and perform forensic investigations to increase the network analytics market size.

The sales of network analytics are rising due to immoral and misusing of data around the region’s companies. They are afraid of stealing data and misleading it through various sources to get rid of it. The adoption of network analytics for different applications is likely to rise in the coming year.

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It is one of the genuine and real-time application software which detects errors faster with IoT and generates the demand by end-users all around the globe.Here are some of the key end-user, including hospitals, healthcare centers, telecom, BFSI & others are estimated the network analytics market growth during the forecast period.

Adopting 5G, IoT, and cloud are boosting the technology & solving the error spot with their potential audit work in the network analytics market trends. It examines, monitor, detect and manage the process in a systematic manner that grabs the attention of the benefits among the consumers generating a high demand for network analytics applications in the market.

The US market is dominating the network analytics market share all around the globe due to the penalty of misusing data & the great infrastructure & advanced resources available in the country, with counting the highest CAGR of 19.1% during the forecast period from 2022 to 2032.

The China market took the second position in network analytics market growth, accounting for a CAGR of 18.6% during the forecast period from 2022 to 2032.

Key Takeaways:

• Based on components, the network intelligence solution segment is likely to dominate the network analytics market share with a CAGR of 19.4% during the forecast period 2022 to 2032.
• Based on deployment type, the on-premises segment is anticipated to lead the network analytics market size in the forecast period 2022 to 2032.
• The US holds a prominent role in the network analytics market trends due to the misusing of data in the country.
• By 2032, the network analytics market share is anticipated to rise to the valuation of US$ 14.4 Billion with a CAGR of 19.3%.

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Competitive Landscape:

Several key competitors companies are adopting to rise the network analytics market growth through various methods such as merges, collaboration, partnerships & others. The key driving companies are to carry out maximum revenue in the network analytics market future trends.

Some of the key competitive companies are Ericsson, Huawei, Cisco, Nokia, Netscout & others are generating lion’s share in the coming period.

All these leading companies are going to expand the network analytics market size in the forecast period from 2022 to 2032.

Key Segments

By Components:

• Network Intelligence Solutions
• Services {Professional Services, Managed Services

By Application:

• Customer Analysis
• Risk Management
• Fault Detection
• Network Performance Management
• Compliance Management
• Others {Network Control & Optimization, Network Design & Capacity and, Threat Management

By Deployment:

• On-premises
• Cloud

By Organization Size:

• SMEs
• Large Enterprises

By End-User:

• Cloud Service Providers
• Managed Service Providers
• Telecom Providers
• Others (Internet Service Providers, Satellite Communication Providers and Cabel Network Providers

By Region:

• North America
• Asia-Pacific
• Europe
• Middle East & Africa
• Latin America

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

Contact Us:        
Future Market Insights
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
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[250 Pages Report] The global Patient Transport Services market is valued at US$ 34.1 Bn in 2021 and is expected to reach US$ 117.1 Bn by 2032, expanding at a CAGR of 12% between 2022 and 2032. According to Future Market Insights, a market research and competitive intelligence provider, global Patient Transport Services market has increased at a CAGR of roughly 11% over the last half-decade.

Ambulance demand is rising resulting from beneficial reimbursement rules, a important increase in medical tourism, a rise in road accidents, and a rising senior populace. Road accidents are becoming more common, prompting emergency medical care and ambulance assistance. According to the Association for Safe International Road Travel (ASIRT), 1.3 million people die in car accidents each year, with another 20-50 million injured or incapacitated.

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In addition, the rising number of deaths as a result of traffic accidents necessitates prompt medical attention. Government policies that support the healthcare business, as well as reimbursement programmes for healthcare services, are propelling the market forward. The need for Patient Transport Services is increasing as a result of the rise in medical tourism and the construction of infrastructure for healthcare facilities. Cardiovascular illnesses, which include cardiac arrest, coronary artery disease, heart failure, and stroke, frequently necessitate rapid medical attention and treatment because they are a primary cause of death and are predicted to drive market growth.

Medical tourism is also on the rise as a result of improved healthcare facilities and reimbursement rules. According to the Directorate-General of Commercial Intelligence and Statistics of India’s report “Export Health Services: 2015-2016,” India had approximately 58,300 medical tourists with visas for medical travel in 2015-2016. In addition, according to a data published by Ctrip, a renowned Chinese travel operator, medical tourism in China grew by 500% in 2016, with 500,000 outbound medical travels.

Other key contributing causes for the rising demand for Patient Transport Services in the next five years include increased awareness of life support services and the availability of qualified healthcare specialists to address healthcare issues.

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Key Players :

• Envision Healthcare
• London Ambulance Service NHS Trust
• Acadian Ambulance Service
• BVG India Limited
• America Patient Transport Services, Inc
• Falck Denmark A/S
• Air Medical Group Holdings, Inc.
• Air Methods Corporation
• Ziqitza Healthcare Limited
• Medivic Aviation

Key Takeaways from Market Study

• Patient Transport Services Market was valued at US$ 34.1 Bn in 2021. According to Future Market Insights, Patient Transport Services Market revenue would increase 3X between 2022 and 2032, reaching roughly US$ 117.1 Bn in 2032.
• In terms of Transport Vehicle Type, the Ground Ambulance accounts for the highest projected CAGR of over 13.1%.
• In terms of the Emergency Services of Patient Transport Services Market, Emergency Services accounts for the highest CAGR of 11.3% during the historic period (2017-21).

Winning Strategy

To strengthen their position in the market, key firms are engaging into collaborations to achieve operational excellence.

• In September 2017, for example, BVG India Limited and the government of Andhra Pradesh cooperated to provide emergency medical services in the state. In Andhra Pradesh, the business offered 467 ambulances, including 389 basic life support and 76 advanced life support ambulances. This joint venture is projected to increase the company’s revenue.

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Competitive Environment

Envision Healthcare, London Ambulance Service NHS Trust, Acadian Ambulance Service, BVG India Limited, America Patient Transport Services, Inc. are some of the major companies in the Patient Transport Services industry. To enhance their geographical footprint, the top players are using novel product launch tactics. Some of the growth tactics highlighted include mergers and acquisitions, strategic cooperation, and partnership partnerships.

Future Market Insight’s Domain Knowledge in Healthcare Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

Market Segments Covered in Patient Transport Services Market Analysis

By Transport Vehicle:

• Ground Ambulance
• Air Ambulance
• Water Ambulance

By Emergency Services Type:

• Emergency Services
• Non-emergency Services

By Equipment Type:

• Advanced Life Support (ALS) Patient Transport Services
• Basic Life Support (BLS) Patient Transport Services

About 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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
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Dubai,
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[322 Pages Report] The smart wheelchair market is subject to changes owing to the factors influencing the market such as the increasing prevalence of neurological disorders, rising awareness and demand for automated medical devices, increasing burden of the geriatric population globally, and the growing levels of disposable income of the target population.

According to the latest study conducted by Future Market Insights, the smart wheelchair market will be projected to be valued at US$ 162.6 Mn by the end of 2022 and is expected to exhibit a CAGR growth of 7.8% over the forecast period (2022-2032)

Although the independent movement is crucial, some wheelchair users find it difficult or impossible to operate conventional manual or motorised wheelchairs. Multiple overlapping physical, cognitive, or perceptual symptoms of diseases such as cerebral palsy, amyotrophic lateral sclerosis, cerebrovascular accident, multiple sclerosis, and spinal cord injury can make it difficult to use a wheelchair safely and independently. Varied forms of assistance from a smart wheelchair and different wheelchair form elements can benefit people with various symptom combinations.

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The COVID-19 pandemic had unprecedented effects on the world’s economy, along with sending the healthcare sector into a hyper drive. COVID-19 pandemic negatively influenced the smart wheelchair market during the peak of the pandemic in 2020, due to the shortage of supply of raw materials and other supply chain crises. However, the partial normalization of the world in 2021 opened up a foray of growth opportunities for the key players in this industry.

There are services in hospital settings where external consultations, tests, analyses, and procedures are conducted involving patient displacement. This is particularly important for those with balance and mobility issues caused by disability, pain, fractures, or abnormalities in the lower limbs. Patients are currently transported to hospitals by patient transporters. It could often be done in a wheelchair, which would be more beneficial, owing to its autonomy. As a result, delays and failures owing to a shortage of staff to carry out the transfer would be avoided.

Technological advancements are also shaping the growth of the smart wheelchairs industry for over a decade.

• For instance, In November 2021, Sunrise Medical LLC. announced the launch of its new ZIPPIE® Sphynx™ an on the go, compact, easily transportable wheelchair that can fit within a compact car’s trunk according to the clients’ needs. The market is consolidated with a few key players dominating the industry.

Rising sedentary lifestyle, increasing popularity of ultra-lightweight smart wheelchairs, and increased focus on R&D for smart wheelchairs are some of the key trends of this market. The overall improved technology adoption globally will fuel the demand for smart wheelchairs and the market is likely to expand exponentially over the forecast period. (2022-2032)

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Key Players :

• Medical Depot, Inc.
• Permobil AB
• Pride Mobility Products Ltd.
• MEYRA GmbH
• DEKA Research & Development Corp.
• tmsuk company limited
• Ottobock
• WHILL Inc.
• Invacare Corporation
• Karman Healthcare, Inc.

Key Takeaways from this study:

• The joystick based smart wheelchairs hold the highest market share of about 0% during the year 2021, expanding at a CAGR of 7.6% during the forecast period.
• Mobility impairment by usage accounts for the largest market value share of more than 40% and is set to expand at a CAGR of 2%.
• The healthcare settings as the end users hold a market share of 0% in 2021 with an expected CAGR growth of 6.8% during the forecasted years.
• North America is a leading region for the global smart wheelchairs market during the year 2021, accounting for a market share of 0%.

“Growing patient awareness regarding smart wheelchairs would fuel the growth of this market globally” says an analyst of Future Market Insights.

Market Competition:

Acquisitions and expansion of existing facilities are some of the strategies adopted by leading manufacturers of the smart wheelchair industry such as Sunrise Medical and Permobil, to further their business and establish a stronger market presence.

• In August 2020, Sunrise Medical announced the completion of a strategic acquisition of paediatric industry leaders, Leckey and Firefly, in order to extend its paediatric product and service portfolio.
• In March 2022, Permobil, a leading player in the wheelchairs industry, announced an investment to expand their R&D and operations facility in Tennessee in order to expand their business.

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What does the report cover?

Future Market Insights offers a unique perspective and actionable insights on the smart wheelchairs market in its latest study, presenting a demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research is based on product-(joystick based smart wheelchairs and Bluetooth connected smart wheelchairs), usage-(mobility impairment, ocular disability, geriatric group, multiple disability and others), and end-user (healthcare settings, home care settings and public access), and across seven key regions of the world.

Key Market Segments Covered in the Smart Wheelchair Industry Research

By Product:

• Joystick based Smart Wheelchairs
• Bluetooth Connected Smart Wheelchairs

By Patient:

• Mobility Impairment
• Ocular Disability
• Geriatric Group
• Multiple-Disability
• Others

By End-User:

• Healthcare Settings
• Home Care Settings
• Public Access

About 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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
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Plot No: JLT-PH2-X2A,
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According to the Enterprise Resource Planning (ERP) software market analysis carried out by Future Market Insights (FMI), the demand registered in the market will increase at a CAGR of around 8.8% from 2022-2032. The report states that the market is expected to reach the valuation of ~US$ 54,179.8 Mn by end of 2022. As per Future Market Insights, growing need for operational transparency and efficiency in business process to drive the growth of ERP software market in the coming years.

Cloud-based ERP software helps business to create complete report on their daily operational activity. With cloud-based ERP software, firms can easily monitor the company expenditure, profits and losses, and returns on investments (ROI). Furthermore, cloud-based ERP software provides KPI reports for performance analysis. ERP software systems provide tools like data visualization, utilizing real-time data sets and others. Companies can use ERP software solutions to fix issues in real time. Most of the cloud-based ERP software providers offer uptime rates.

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Key Takeaways: ERP Software Market

• By deployment mode, the on-premise ERP software segment has emerged dominant, growing at a CAGR of close to 7.7% between 2022 & 2032.
• By enterprise size, the demand for ERP software solutions from small & mid-sized enterprises (SMEs) is estimated to be growing at higher rate than large enterprises.
• By business function, the financial management industry is showcasing high growth and is expected to hold dominant market share by 2032. However, the supply chain management industry is projected to showcase a tremendous growth of close to 11.4% between 2022 & 2032.
• By industry, the IT & telecom industry will hold the highest market share by 2032. However, the BFSI industry is projected to showcase impressive growth at around 11.8% CAGR between 2022 & 2032.
• By region, North America held the highest market share of around 32% in 2021, but South Asia & Pacific will showcase growth at a higher rate of ~12.8% during the forecast period.

Across various industries, enterprises are looking for opportunities to strengthen their operational efficiency and improve their workflow process. In addition to this, these enterprises are currently focusing on improving their business operations in terms of increasing operational productivity and maintaining costs under control. Firms are looking for a centralized solution to manage a variety of business activities, including sales and marketing, accounting and finance, procurement and supply chain management.

Cloud-based ERP software offers scalability and flexibility to the organization that helps to improve productivity and optimize operations. Fast and accurate financial data delivery, improved quality and inventory controls, quick data-driven decisions, software and network infrastructure, simplified hardware, improved financial performance, integration of acquired technology, simple adoption of common standards across facilities and business divisions, and more consistent operating performance are all advantages of cloud-based ERP software.

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Increase in Demand for Operational Efficiency and Transparency in Corporate Operations Driving Growth

The worldwide ERP software market is growing due to an increase in demand for operational efficiency and transparency in corporate operations, as well as an increase in demand for ERP software from small and mid-sized enterprises. Furthermore, the rapid usage of cloud-based and mobile apps are boosting the development of the ERP software market.

The development of the ERP software market is hampered by the availability of open-source ERP software solutions and the high implementation cost of ERP software. On the other hand, the growing use of ERP software solutions in small and mid-sized enterprises, as well as the fast transition of current business models, are projected to provide lucrative prospects for the ERP software market to expand throughout the forecast period.

This study explains that factors such as the growth in developments & initiatives toward digitalized education, massive adoptions of Learning Management systems Market among educational institutes, and increase in internet penetration and growth in smartphone adoption are expected to accelerate the market growth during the forecast period.

The learning management system (LMS) market is projected to grow at an astounding CAGR of 18.0 percent between 2022 and 2032. From US$ 18.8 Billion in 2022, the market is projected to grow to US$ 98.5 Billion in 2032.

The major factor that is expected to propel the growth of the learning management system market during the forecast period includes the growing demand for smart and interactive learning platforms, such as electronic learning (e-learning), open online courses, mobile education, and online tutorials, coupled with the growing preference for training and learning sessions. Educational institutes adopt tools to support and enhance the learning process and teaching efficacies.

Moreover, an increase in penetration of smartphones coupled with fast internet connectivity, rise in preference among consumers for learning management systems, and massive adoptions of these systems among educational institutes accelerate the learning management systems market growth. Additionally, an integration of artificial intelligence (AI) offers significant opportunities for learning management systems companies to expand their offerings, owing to factors such as automation of human-intervened operations.

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Key Takeaways from the Learning Management Systems Market Study

1. Global learning management system (LMS) market was valued at US$ 18.8 Billion by 2022-end
2. The US to account for the highest value share of US$ 31.9 Billion of global market demand for learning management systems in 2032
3. From 2015 to 2021, Learning Management System (LMS) demand expanded at a CAGR of 19.6%
4. By Component, the solutions category constitutes the bulk of learning management system with a CAGR of 17.2%.

“An increase in penetration of smartphones coupled with fast internet connectivity, and rise in preference among consumers for learning management systems are essential factors propelling the market growth during the analysis period,” remarks an FMI analyst.

Learning Management Systems Market Competitive Landscape–

Blackboard Inc., Callidus Software Inc., Epignosis LLC, John Wiley & Sons, Inc., Oracle Corporation, Jzero Solutions Ltd., Paradiso Solutions, SABA Software, Inc., SAP SE, and Sumtotal Systems, LLC, among others are the top companies in the global learning management system (LMS) market.

Players in the global Learning Management System (LMS) Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products, which would help them in strengthening their position in the global market.

Some of the recent developments among the key players are:

In July 2021, PowerSchool announced that it would price the class A common stocks at USD 18 per share in the New York Stock Exchange (NYSE). This would help the company repay outstanding debt expenses related to the IPO.

In December 2020, D2L partnered with Microsoft to integrate Brightspace LMS with Microsoft Teams. This would enhance the learning experience by allowing to access a private Teams space on Brightspace platform.

In October 2020, Blackboard launched Blackboard Reach, its new solution for K-12 institutes. The solution was aimed to help parents to connect with teachers and have meaningful and real-time discussions.

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Key Segments Covered In The Learning Management System Market Report

Learning Management System by Component:

• Learning Management Solutions
• Learning Management Services

Learning Management System by Delivery Mode:

• Distance Learning Management Systems
• Instructor-led Training Learning Management Systems
• Blended Learning Management Systems

Learning Management Systems by Deployment Mode:

• Cloud-based Learning Management Systems
• On-Premises Learning Management Systems

Learning Management System by End User:

• Learning Management Systems for Academics
  • K-12
  • Higher Education
• Learning Management System for Corporates
  • Software & Technology
  • Healthcare
  • Retail
  • Banking, Financial, Services and Insurance (BFSI)
  • Manufacturing
  • Government & Defense
  • Telecom
  • Other Corporate Users

Learning Management System by Region:

• North America Learning Management System Market
• Latin America Learning Management System Market
• Europe Learning Management System Market
• Asia Pacific Learning Management System Market\
• Middle East and Africa Learning Management System Market

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