Market Research Blog – Page 14049 – New Product Development

Computerized Maintenance Management System (CMMS) Market Is Expected To Reach A Valuation Of US$ 2.75 Mn By 2031

Benefits of computerized maintenance management system (CMMS) in the reduction of maintenance operations cost and unplanned equipment failure is expected to propel their adoption across industries. According to a study by Future Market Insights (FMI), increasing demand from manufacturing, energy & utility, and other industries will enable growth in the CMMS market, which is expected to reach US$ 1.19 Bn by 2021.

Data maintenance is important to any organization. Previously, maintenance data was stored on paper which was a time consuming and monotonous process. CMMS solutions came into existence with the advancement in technologies. A computerized maintenance management system is a software that is designed to simplify maintenance management. CMMS is sometimes referred to as Enterprise Asset Management (EAM) software. The software centralizes maintenance information and facilitates the processes of maintenance operations.

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These solutions are used to maintain the assets during their life cycle life. CMMS software tracks all the processes which include maintenance, customer service requests, operational performance, and warehouse inventory in one place. These solutions are used for tracking work orders, scheduling tasks, dealing with external work requests, recording asset history, managing inventory, and audit and certification.

Increase in the number of manufacturing facilities, and rising demand for enhanced maintenance of operations and rise in adoption of cloud/web-based technologies are some of the key factor propelling the growth of CMMS market globally. The manufacturing segment will remain the key end user in the market, accounting for a share of 30.5% followed by energy and utility segment.

Key Takeaways: Computerized Maintenance Management System (CMMS) Market

The global CMMS market is estimated to register a CAGR of 8.7% during the forecast period of 2021-2031
The U.S. has remained early adopter of latest technologies. It also exhibits increasing uptake of CMMS software and services, accounting for over 80% of North America market
Expansion of energy and utilities sector will drive sales in the U.K., enabling y-o-y growth at 10.1% in 2021
China will continue leading the East Asia market on the back of consistently rising manufacturing activities
Increasing investment in modern technologies will pave way for expansion in India

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“A CMMS software plays a critical role in an industry’s move from reactive maintenance to proactive to predictive maintenance. Integration of AI and IoT with CMMS solution will create huge opportunities for software vendors” says FMI Analyst.

COVID-19 Impact Analysis on CMMS Market

The COVID-19 pandemic has clearly divided individual’s needs into essentials and non-essentials. Utilities – electricity, gas, and water – fall firmly in the first category. As these industries are the key part of a nation’s economy, as other industries depend on it to serve the needs of every common man. Power, utilities & renewables (PU&R) companies are continuously focusing on keeping their assets on-line and providing safe, reliable supplies of electricity and natural gas during the pandemic.

CMMS software tools can help manage sudden changes in operations – like making changes in maintenance schedules or placing an emphasis on facility cleaning – like those that were required after the COVID-19 outbreak. The software manages the auto-routing of work orders to right staff, escalating critical work and having the proper notifications to alert team members, and getting approvals for appropriate work.

Emergence of Mobile CMMS Software Solutions

The biggest breakthrough in the CMMS software industry is the emergence of mobile CMMS software solution. Energy and utility providers that have implemented the mobile CMMS solutions have achieved 40% improvement in productivity. Working with mobile CMMS software solution increases stability, performance, and functionality.

Through mobile CMMS, technicians can create, retrieve, update, and close work orders from anywhere. Any smartphone, mobile devices or internet-enabled devices are used to retrieve the CMMS database in real time. Instant access to work orders provides technicians the freedom to prioritize work orders based on location, saving organization time and money. Moreover, it is used to add specific details to a work order from the job site, increasing the accuracy and timeliness of the information being added to the maintenance database.

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Competitive Landscape

Some of the leading companies operating in the market are IBM Corporation, Rockwell Automation, eMaint (Fluke Corporation), MicroMain Corp., Infor, Maintenance Connection (Accruent), Hippo CMMS, Limble CMMS, Mobility Work, DIMO Software, MPulse Software, FasTrak SoftWorks, CMMS Data Group, Letosys, QuickFMS, Cryotos, SIERRA ODC Private Limited, PiqoTech Software Solutions Pvt. Ltd., and IFS.

Mergers and acquisition remain highly sought-after as market players seek to expand their footprint and portfolio. For instance, in June 2018, Accruent, has acquired Maintenance Connection, a CMMS provider. This development accelerates Accruent’s efforts to help customers gain insight and make data-driven decisions for multi-site facility management.

Management System (CMMS) Market

Solution

CMMS Software
- Cloud-based/Web-based
- On-Premises
Service
- Consulting Services
- Integration & Implementation Services
- Support & Maintenance Services

Enterprise Size

Small & Medium Enterprises (SMEs)
Large Enterprises

Industry

Manufacturing
Transportation & Logistics
Retail & CPG
Education
Hospitality
Healthcare
Energy & Utilities
Government
Others

Banking-As-A-Service (BaaS) Platform Market Is Expected To Reach ~US$ 12.2 Bn By 2031

The demand outlook for global banking-as-a-service (BaaS) platform market remains impressive as Future Market Insights (FMI) forecasts sales to surpass US$ 12.2 Bn by the end of 2031.

The market is expected to register impressive growth as the adoption of BaaS platform surges within fintech corporations. As per the study, the global BaaS platform market is poised to expand at 15.7% CAGR between 2021 and 2031.

With increasing adoption of digital banking services across several domains, demand for BaaS platform has surged in medium and small sized organizations. Integration of artificial intelligence, block-chain technology, and API services within internet banking also will boost the demand.

Several banks and financial institutions are investing in digital transformation to offer tech savvy banking operations. Large organizations are increasing the adoption of BaaS platform to enhance their customer base.

Driven by the outbreak of COVID-19, various organizations are revamping their businesses by implementing digital banking services. Hence, adoption of BaaS platforms witnessed a sudden spike as organizations raced to deliver outstanding digital experience to their customers.

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Adoption of BaaS platform within fintech corporations increased at a remarkable pace. Increasing reliance on mobile banking, digital payments, and net-banking among consumers also has aided the market growth.

“Rapid proliferation of work-from-home and increasing reliance on digital payments and online banking is encouraging key players to implement block-chain and artificial intelligence technology to deliver secure services to the customers. This is amplifying sales in the market,” says the FMI analyst.

Key Takeaways from FMI’s Banking-as-a-Service Platform Market Survey

In terms of solution, BaaS APIs segment will witness growth at a robust 17% CAGR during the forecast period
Banking as service platform will account for the leading market share and continue to retain its dominance through 2031
Large organizations will account for half of global banking-as-a-service market sales
In terms of enterprise size, mid and small-sized organizations segment will register remarkable growth at 16.6% CAGR
Fintech corporations are expected to be the leading end-users of BaaS platforms, accounting for a share of nearly 26%
The U.K. market will register highest sales across Europe, accounting for nearly 29% of market share
Demand for banking-as-a-service platform across the U.S. is set to rise at an impressive 15% CAGR
India banking-as-a-service platform market will register staggering growth at 26% CAGR owing to the flourishing fintech companies in the country

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Key Drivers

Adoption of BaaS platform among diverse end users such as clothing industry, online retailers, and others will increase as they aim for expanding their customer base
Surging collaboration between incumbents and fintech innovators to distribute financial products and gain remunerative opportunities will boost the market
As BaaS platform reduces digitization costs for incumbents, more fintech companies are adopting these services to gain edge in the industry

Key Restraints:

Lack of protection of secure data and flexibility will act as challenge for banking-as-a-service providers
Unavailability of secure platforms to deploy targeted solutions might hamper the market growth

Competitive Landscape

Leading players in the market are focusing on acquiring fintech start-ups to develop their own net-banking and digital banking products to reduce their churn rates. Also, the players are coming up innovative solutions to serve their customers.

Rapidly changing demand from various organizations for advanced banking products and digitalization is encouraging leading players to rely on third parties and develop new APIs services.

For instance,

In September 2021, Monese, the leading European fintech announced the launch of banking-as-a-service platform and new partnership with Investec Bank Plc.
Temenos, the banking software company, on September 26, 2021, announced its strategic collaboration with Vodeno, a fully cloud-native BaaS provider and Aion Bank, a European licensed digital bank to accelerate banking as a service deployment in Europe.
In July 2021, Cermati Fintech Group launched its BaaS technology platform product in Indonesia through a strategic partnership with BCA Digital, a leading bank in Indonesia and Blibli.

Some of the key players operating in the banking-as-a-service platform industry market profiled by FMI are:

Sopra Banking Software
Solarisbank AG
Bankable
Treezor
11:FS Foundry
Clearbank Ltd.
Q2 Software, Inc.
Green Dot Corporation
Sterling National Bank
Banco Bilbao Vizcaya Argentaria (BBVA), S.A
Unit Finance Inc.
Starling Bank
Treasury Prime
ADVAPAY OÜ
Technisys.
Others

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More Valuable Insights on Banking-as-a-Service Platform Market

Future Market Insights, in its new offering, presents an unbiased analysis of the banking-as-a-service market. The study delivers essential insights on the banking-as-a-service market on the basis of:

By Solution:

Banking as a Service Platform
Banking as a Service APIs
Services
- Payment Processing Services
- Digital Banking Services
- KYC Services
- Customer Support Services
- Others

By Enterprise Size:

Small & Mid-Sized Organizations
Large Organizations

By End User:

Banks
FinTech Corporations
Investment Firms
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa

Key Questions Covered in the Report

The report offers insight into banking-as-a-service platform market demand outlook for the forecast period 2021-2031
The market study also highlights projected sales growth for banking-as-a-service platform market between 2021 and 2031
Banking-as-a-service platform market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Banking-as-a-service market platform share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

SOC-As-A-Service Market Total Revenue Is Anticipated To Reach US$ 9.5 Bn By 2031

Future Market Insights (FMI) has published a new market research report on social employee recognition systems. The report has been titled, Global SOC-as-a-Service Market: Global Industry Analysis, Forecast. Long-term contracts with large enterprises and private companies are likely to aid the expansion of business revenues, and innovation in the industry will enable social employee recognition system vendors to reach out to new potential customers in emerging markets. These factors are expected to help the global market for social employee recognition systems observe stellar growth in next few years.

As per a recent analysis by Future Market Insights (FMI), the global SOC-as-a-Service market is projected to total US$ 1.08 Bn in 2021. Expanding at 24.3% CAGR, total revenue is anticipated to reach US$ 9.5 Bn by 2031.

Rising incidence of data breach and cyber-attacks in small, medium, and large scale enterprises across the globe is spurring the demand for effective SOC-as-a-Service solutions. Prevalence of remote work culture due to worldwide lockdown restrictions is resulting in high risk for cybercrimes and phishing.

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Competitive Landscape

Companies operating in the SOC-as-a-Service market are aiming at product innovation and strategic partnerships with other manufacturers to expand their product portfolios to address the demand from an expanding customer pool. Fos instance:

In December 2020, Alert Logic, Inc. launched automated response solution for Amazon Web Services (AWS) environments. Alert Logic MDR SOAR delivers pre-built and customized playbooks ensure security teams to protect organizations from threats.

In December 2019, Fortinet, Inc. acquired CyberSponse. This acquisition helps the company to improve security orchestration, automation, and response addition to Fortier. Also it empowers security operations teams to achieve higher efficiencies and accelerate incident response.

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Segmentation

The SOC-as-a-Service market is segmented into application, form, end use industry, source and geography.

Based on Service Type:

Prevention Service
Detection Service
Incident Response Service
Others

Based on Application:

Network Security
Endpoint Security
Application Security
Others

Based on Industry:

BFSI
Healthcare
Government and Public Sector
IT and Telecom
Retail
Manufacturing
Others

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Queries Solved

What is the size of the overall SOC-as-a-Service Market in the Technology Industry and its segments?
What are the key segments and sub-segments in the market?
What are the key drivers, restraints, opportunities, and challenges of the SOC-as-a-Service Market in the Technology Industry, and how they are expected to impact the market?
What are the attractive investment opportunities within the SOC-as-a-Service Market in the Technology Industry?
What is the SOC-as-a-Service Market in the Technology Industry size at the regional and country-level?
What are the key market players focusing on?
What are the strategies for growth adopted by the key players in SOC-as-a-Service Market in the Technology Industry?
What are the recent trends in SOC-as-a-Service Market in the Technology Industry? (M&A, partnerships, new product developments, expansions)?
What are the challenges to the SOC-as-a-Service Market in the growth of the Technology Industry?
What are the key market trends impacting the growth of the SOC-as-a-Service Market in the Technology Industry?

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Reasons to Buy the report

We provide authentic and detailed analysis on various market trends to enable businesses to make informed and beneficial decisions to attain competitive edge over key players.
Our analysts provide detailed market segmentation along with meaningful insights and extensive reports that other companies fail to include.
The report includes accurate analysis of the market and the current developing trends affecting the growth. FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts.This ensures that the data collected is from highly reliable sources.

NVMe Over Fiber Channel Market 2021 By Global Key Players, Types, Applications, Countries, Industry Size And Forecast To 2031

Future Market Insights (FMI) has published a new market research report on social employee recognition systems. The report has been titled, Global NVMe Over Fiber Channel Market: Global Industry Analysis, Forecast. Long-term contracts with large enterprises and private companies are likely to aid the expansion of business revenues, and innovation in the industry will enable social employee recognition system vendors to reach out to new potential customers in emerging markets. These factors are expected to help the global market for social employee recognition systems observe stellar growth in next few years.

As per the latest survey conducted by FMI, the global NVMe over the fiber channel market is predicted to top US$ 30.36 billion in 2020. In response to the increasing adoption of non-volatile memory express (NVMe) over fiber channels by data centers, telecom service providers, and enterprises, the market is estimated to surpass US$ 255.64 billion by the end of 2031.

Rising integration of advanced technologies such as the internet of things, machine learning, and cloud computing across organizations has increased the overall volume of data created, captured, consumed, and copied across the world.

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Historically, the market registered growth at 20.8% from 2016 to 2020. It is expected to register growth at an accelerated pace as end users exhibit higher inclination for the solid-state drive (SSD), as it offers better encryption and faster data transfer speed than traditional SSDs, which is in turn, spurring the sales of NVMe devices. As per FMI, the market is expected to grow at a CAGR of 23.7% during 2021-2031.

“Rapidly changing computing dynamics for developers of laptops, computers, and tablets along with increasing demand for secured intellectual data storage devices across IT & telecom and banking, financial services and insurance industries are expected to accelerate the market growth in the coming year,” says the FMI analyst.

Key Takeaways from the NVMe over Fiber Channel Market Analysis

Sales for NVMe over fiber channel in the U.S. is expected to total US$ 5.19 billion in 2021, rising at a CAGR of massive CAGR of 21.8% between 2021 and 2031.
The market in China is estimated to reach US$ 2,211.7 million, surging at a staggering CAGR of 25.3% through 2031.
Germany is projected to emerge as the most lucrative market in Europe, reaching a valuation of US$ 17.5 billion by the end of 2031.
Japan and South Korea markets are forecast to account for 33.5% and 25.2% of the value share, respectively, in East Asia by 2021.
Based on end user, the data center vendor is anticipated to lead the segment, accounting for nearly 37.4% of the overall sales in 2021.

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Key Drivers

Increasing adoption of NVMe for big data analytics, blockchain, and artificial intelligence (AI) across data-driven organizations owing to its lower latency and faster data movement is driving the market growth.
Growing data generation, spurred by the rising smartphone penetration and growing number of internet users across the world is expected to propel the demand for NVMe over fiber channels.

Key Restraints

High cost of NVMe devices compared to traditional ones is hampering the growth of the market.
Lack of compatibility of NVMe in smartphones and computers & laptops with older motherboards is hindering the market growth.

Competitive Landscape

Leading companies in the market are Intel Corporation, Samsung Electronics Co., Ltd., Western Digital Corporation, Dell EMC, Hewlett Packard Enterprise, and IBM, are the top NVMe over fiber channel vendors. These players are anticipated to account for more than 60% of the total sales in the landscape.

Leading players are extensively investing in research and development activities for the optimization of novel devices and technologies. Besides this, some of the key companies are focusing of new product launching to expand their product portfolio. For instance,

In 2020, Intel Corporation, an American multinational corporation and technology company, announced investing US$ 13.6 billion in the research and development initiatives for optimization of the process technology, advancement in 5G technology, and PC and data-centric businesses.
In February 2018, Intel Corporation announced launching its two new products, Intel SSD DC P4510 Series and P4511 Series. The products launch is aimed to assist the company in expanding its product portfolio in data center applications.

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More Valuable Insights on NVMe over Fiber Channel Market

FMI, in its new report, offers an unbiased analysis of the global NVMe over fiber channel market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in NVMe over fiber channel market with detailed segmentation:

By Product:

NVMe All-Flash Storage Arrays
NVMe Switch Adapters
NVMe SSD
Others

By Enterprise Size:

Small & Medium Enterprises (SMEs)
Large Enterprises

By End User:

Data Centers Vendors
Networking Vendors
Telecom Service Providers
Government
Enterprises
Others

By Region:

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

Key Questions Covered in the Report

The report offers insight into NVMe over fiber channel market demand outlook for the forecast period 2021-2031
The market study also highlights projected sales growth for NVMe over fiber channel market between 2021 and 2031
NVMe over fiber channel market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
NVMe over fiber channel market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

FIDO Authentication Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

A recent market study published by Future Market Insights (FMI) on the FIDO authentication market includes a global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.

The FIDO authentication solutions revenue totalled ~US$ 849.6 Mn in 2020, according to Future Market Insights (FMI). The overall market is expected to reach ~US$ 8.0 Bn by 2031, growing at a CAGR of 22.8% for 2021 – 31. The demand for FIDO authentication solutions will continue accelerating, increasing competition prevalent in the market. FMI has forecast the top 5 providers to account for around 69.4% of total market in 2020.

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FIDO (First Identity Online) Alliance, a non-profit association that includes tech giants such as Apple, Microsoft, and Facebook has been pushing the implementation of stronger security practices during the ongoing COVID-19 crisis. As such, the FIDO U2F (Universal 2nd Factor) security key is being publicized as one of the latest security protocols that enables Internet users to securely access any number of online services through a single physical security key. Such trends are anticipated to create incremental opportunities for companies in the FIDO authentication industry.

COVID-19 Impact Analysis on FIDO Authentication Market

While ensuring employee safety and business continuity remained paramount, public companies were simultaneously challenged by a sudden decline in consumer demand, a continuing halt or reduction in onsite activities, and global supply chain issues, which began in China shortly before impacting services in Europe and the Americas regions.

Competition Analysis

Report includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Aware, Inc., OneSpan, HYPR Corp, Yubico, Daon, Thales Group, RSA Security LLC, Movenda, Nok Nok Labs, Inc., Bluink Ltd., Century Longmai Technology Co., Ltd., Raonsecure Co., Ltd., International Systems Research Co. (ISR), Hypersecu Information Systems, Inc. among others.

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FIDO Authentication Outlook by Category

By Solution:

FIDO U2F Authentication Devices (Security Keys)
FIDO Authentication SDKs
- FIDO Client SDK
- FIDO Server SDK
Services
- Technology Consulting
- Integration & Deployment
- FIDO Certification Services
- Support Services

By Application:

Payment Processing
PKI/Credential Management
Document Signing
User Authentication
Others

By Industry:

BFSI
Healthcare & Life Sciences
IT & Telecom
Retail & CPG
Government & Defense
Energy & Utilities
Others

Key Takeaways: FIDO Authentication Market

By solution segment, the FIDO U2F Authentication Devices (Security Keys) segment is anticipated to account for the leading share in the global demand for FIDO authentication during the forecast period. The segment estimated to grow at a robust CAGR of 22.4% through 2031.
The adoption of FIDO authentication solutions in PKI/credential management is expected to rise at maximum pace with a significant CAGR of 26.7% between 2021 & 2031.
Demand for FIDO authentication in IT & Telecom and BFSI sector is estimated to grow at impressive CAGRs. Of these, BFSI industry is expected to account for leading share in FIDO authentication sales forecast during the forecast period.
North America is expected to lead the market followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
The market in Japan is expected to progress at a CAGR of 28.5% through 2031.
In the U.K., sales are expected to increase at a CAGR of close to 23% over the next ten years.

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Key Points Covered in FIDO Authentication Market Survey

Which region is expected to showcase high growth in FIDO authentication solutions demand?
Which is the most sought-after application of FIDO authentication solutions?
Which are some of the leading companies offering FIDO authentication solutions?
Who are the leading end users of FIDO authentication solutions?
How much is the global FIDO authentication demand worth?
What will be the demand outlook/ sales forecast for FIDO authentication?
What was the last 5 year market CAGR?
What are the key trends of FIDO authentication industry?
What is driving demand for FIDO authentication?
Which countries are key providers of FIDO authentication solutions?
What is the Global Market Growth Between 2020 and 2021?
What are the top 5 countries driving demand?
What is the North America market outlook?
How the Europe FIDO authentication industry growth will unfold?
What is the key market statistics in South Korea and Japan?

Supply Chain Management (SCM) Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

As per the latest study published by FMI, the global supply chain management market is expected to reach US$ 62.6 Bn by the end of 2031. Surging demand for supply chain management (SCM) solutions across small and medium enterprises (SMEs) and large enterprises is favoring the market growth. On account of this, the market is estimated to expand at a CAGR of 11.4% CAGR over the forecast period between 2021 and 2031.

Increasing need for effective demand management solutions among enterprises and the rising adoption of SCM software across healthcare and pharmaceutical industries are boosting the market. With the integration of big data analytics in logistics and supply chain management (LSCM), the demand for SCM is anticipated to increase by year-on-year (YoY) growth of 8.7% in 2021

Shift in consumer preference in favor of online shopping, especially during COVID-19 times, has substantially bolstered the e-commerce industry. SCM solutions assist in the management of potential e-commerce challenges such as inventory and labor shortages, demand spike, and transportation disruptions, along with efficiently mitigating supply chain disturbances. Thus, rapidly expanding e-commerce industry is expected to provide immense sales opportunities to the market players.

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Among the various industries, the retail & consumer goods sector is anticipated to emerge as the leading end user, accounting for 26.1% of the total sales in the market in 2021. Increasing demand for SCM solutions to counter the complexities of retail supply chain networks, owing to the presence of large number of products, channels, and value-added offerings, are spurring the sales across the segment.

“Growing adoption of cloud-based supply chain management solutions and increasing efforts to integrate advance technologies such as artificial intelligence (AI), robotics, and internet of things (IoT) to provide real-time supply chain visibility will accelerate the market growth in the coming year,” says the FMI analyst.

Key Takeaways from Supply Chain Management Market Analysis

The U.S. is anticipated to account for the highest share in the North America market, accounting for more than 79% of the sales in the region through 2031.
Favored by the increasing spending on logistics & transportation, Germany is expected to account for 22.2% of the revenue share in the Europe market.
India is forecast to register fastest growth in the Asia Pacific market, expanding at a CAGR of 20% between 2021 and 2031.
Japan is projected to emerge as a highly lucrative market for supply chain management, accounting for a total sale of nearly US$ 1.28 billion by the end of 2021.
In terms of software, integrated supply chain management platform/suite is estimated to lead the segment, accounting for nearly 54.1% of the global sales in 2021.

Key Drivers

Integration of blockchain technology with supply chain management systems to reduce errors and delays, faster identification of errors, minimized transportation cost, and increasing focus on sustainability is driving the growth of the market.
Increasing number of small and medium enterprises and large enterprises across developing economies such as India, China, Japan, South Korea, and others is expected to facilitate the market expansion in Asia Pacific.

Key Restraints

Rising cases of data breaches and theft affecting enterprises adopting cloud-based supply chain management solutions is hampering the growth in the cloud-based deployment segment of the market.
High cost of supply chain management is hindering the sales of these solutions across small size enterprises due to their cost-sensitive constraints.

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Competitive Landscape

Some of the key companies in the market are IBM Corporation, Oracle, SAP SE, Manhattan Associates, and E2open LLC among others. As per FMI, top 15 players are estimated to account for over 60% of the revenue share in the global market.

Leading players are emphasizing on adopting strategies such as product innovations and technological advancements to improve their product portfolio. Some of the other companies are engaging into strategic collaboration, agreement, and partnerships to strengthen their market shares and enhance their profitability. For instance,

In June 2021, SAP, a German multinational software corporation, announced creating the world’s largest business network at its global SAPPHIRE NOW conference. The company also announced launching new innovations, designed to assist the companies to digitalize and modernize their business processes.
In December 2020, Infor, a multi-national enterprise software company, announced partnering with a Healthcare technology company, MphRx and developed a global solution to assist healthcare organizations manage their COVID-19 vaccine inoculation with the real-world clinical data.

Some of the leading players in the market profiled by FMI are:

IBM Corporation
Oracle Corporation
SAP SE
Manhattan Associates
Descartes Systems Group Inc.
Kinaxis
E2open, LLC
Basware Corporation
WiseTech Global
Infor
Blue Yonder Group, Inc. (JDA Software)
Epicor Software Corporation
Logility, Inc.
Jaggaer
Ivalua Inc.

More Valuable Insights on Supply Chain Management Market

FMI, in its new report, offers an unbiased analysis of the global supply chain management market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in supply chain management market with detailed segmentation:

By Solution:

Software
- Integrated SCM Platform/Suite
- Standalone Solutions
  - Supply Chain Planning
  - Warehouse Management Software
  - Transportation Management Software
  - Sourcing & Procurement
  - Order Management
  - Others
Services
- Outsource Supply Chain Management Services
- Professional Services
  - Integration & Implementation
  - Support & Maintenance
  - Consulting Services

By Deployment:

Cloud-Based
On-Premises

By Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

By Industry’s:

Retail & Consumer Goods
Manufacturing
Automotive
Healthcare & Pharma
Food & Beverages
Transportation & Logistics
Others

By Region:

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

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Key Questions Covered in the Supply Chain Management Market Report

The market survey also highlights projected sales growth of the supply chain management market between 2021 and 2031
The report offers insight into supply chain management demand outlook for 2021-2031
Supply chain management market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Supply chain management market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Composable-Disaggregated Infrastructure Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

A recent market study published by Future Market Insights (FMI) on the composable-disaggregated infrastructure market includes a global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.

The composable-disaggregated infrastructure solutions revenue totalled ~US$ 1.8 Bn for 2020, according to Future Market Insights. The overall market is expected to reach ~US$ 22.7 Bn by 2031, at a CAGR of 26.3% through 2031. The demand for composable-disaggregated infrastructure solutions will accelerate with top 5 providers holding around 55.5% of total market in 2020.

Newly released data on the composable-disaggregated infrastructure demand outlook indicates 24.5% y-o-y growth in 2021. Among end users, the market share for cloud providers segment is largest among all. However, the enterprise segment will grow at 28.6% CAGR to remain dominant through the assessment period.

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Key Points Covered

Market estimates and forecast 2016-2031
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Composable-Disaggregated Infrastructure market and how to Navigate
Recommendation on Key Winning Strategies

“Software defined infrastructure is becoming leading option for enterprises that want to invest in cost-effective, simplified IT management and eliminate platform silos in the datacenter. Thereby composable disaggregated infrastructure is going to be the top choice for enterprises as it helps to allocate the exact compute, storage or memory resources needed in any situation and also helps in increasing agility” says FMI analyst.

Key Takeaways of Composable/Disaggregated Infrastructure Market

By component segment, the disaggregated hardware is anticipated to account for the leading share in the global Composable/disaggregated infrastructure demand during the forecast period. The segment is estimated to grow at a robust CAGR of 27.0% through 2031.
Demand for composable/disaggregated infrastructure in small and medium enterprises (SMEs) is expected to rise at maximum pace as these organizations continue adopting composable/disaggregated infrastructure solutions and cloud based solutions for better ROI.
Demand for composable/disaggregated infrastructure among enterprises and cloud providers is estimated to grow at an impressive CAGRs. Of these, cloud provider is expected to account for leading share in composable/disaggregated infrastructure sales forecast during the forecast period.
The U.S. is expected to lead the market followed by the U.K. and Germany in 2021.
Australia and New Zealand are anticipated to emerge as the fastest growing region between 2021 & 2031.
The market in India is expected to progress at a CAGR of 36.8% through 2031.
In the GCC Countries, sales are expected to increase at a CAGR of close to 33% over the next ten years.

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COVID-19 Impact Analysis on Composable/Disaggregated Infrastructure Market

The health concerns are increasing around the world and causing significant business impact due to the on-going COVID-19 pandemic particularly when it comes to delivering data. IT operations associated with data centers got drastically disrupted during this pandemic.

Physically moving servers, closing buildings and opening a new space, is massively more complicated in the Covid-19 world. However, the pandemic has forced the organizations to adopt digitalization, as there is increasing demand for remote working calls for increasing mobilization of cloud computing to cope with increasing demand for data.

Hence, the pandemic has accelerated the digital transformation and understood the value and role of data centers in the face of global disruptions. Countries have experienced exponential growth in data demand.

This pandemic has underscored the importance of digital technology and data centers and has increased the adoption of servers during the pandemic. It is also expected to witness significant growth during and post-pandemic era.

Thus, the demand for composable/disaggregated infrastructure is estimated to grow around 21% to 24% Y-o-Y from 2019 to 2021.

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Key Highlights from Report

Which region is expected to showcase significant growth in composable-disaggregated infrastructure solutions demand?
South Asia & Pacific are expected to register strong growth in the market at 32.8% CAGR between 2021 & 2031. However, North America currently leads the market, with share of ~29% in 2021.
Which is the most attractive component in the composable-disaggregated infrastructure market?
Disaggregated hardware is currently the most attractive, accounting for over 62% of revenue generated in 2020. Moreover, the segment is expected to witness robust growth at a CAGR of 27% throughout the forecast period.
Which are some of the leading companies offering composable-disaggregated infrastructure solutions?
Some of the leading market players are Hewlett Packard Enterprise, Cisco Systems, and DriveScale, among others. Nearly 75% of the market share is currently covered by the top 9 players.
Who are the leading end users of composable-disaggregated infrastructure solutions?
Cloud providers segment is expected to dominate over the forecast period, generating revenue of US$ 10.1 Bn by 2031. However, enterprises segment is likely to expand with a CAGR of ~28% through 2031.
How much is the global composable-disaggregated infrastructure demand worth?
The market was valued at ~US$ 1.8 Bn in 2020, and is estimated to grow at an exceptional pace with a CAGR of 26.3% to reach ~US$ 22.7 Bn in 2031.
What will be the demand outlook/ sales forecast for Composable-Disaggregated infrastructure?
Sales of composable-disaggregated infrastructure solutions is expected to be valued at ~US$ 2.2 Bn by the end of 2021, and is likely to reach ~US$ 22.7 Bn by 2031.
At what rate did the composable-disaggregated infrastructure market grow during 2016-2020?
The market in last 5 years (2016 – 2020) grew at a CAGR of 22.2%.
What is driving demand of composable-disaggregated infrastructure?
Increase in business analytics workload, implementation of methodologies such as DevOps, increased customer expectations, rise of automation and standardization tools and emergence of hybrid cloud are the key factors driving the market growth.
Which countries are key providers of Composable-Disaggregated infrastructure solutions?
Countries involved in providing Composable-Disaggregated Infrastructure solutions include the U.S., India, U.K., and Japan.
What is the current composable-disaggregated infrastructure market value?
The global composable-disaggregated infrastructure market is expected to register growth at 24.5% CAGR in 2021.
What are the top 5 countries driving demand?
Top 5 countries driving demand for composable-disaggregated infrastructure include the U.S., Japan, India, Germany, and U.K.
What is the North America Market Outlook?
North America is predicted to remain most attractive markets during the forecast period, according to FMI. The U.S. is expected to account for over 79% of the North America market through 2031.
How will the Europe composable-disaggregated infrastructure industry growth unfold?
The composable-disaggregated infrastructure industry in Europe is estimated to expand at a CAGR of 22.2% over the forecast period.
What is the key market statistics in South Korea and Japan?
The demand in Japan and South Korea was valued at US$ 102.5 Mn and US$ 59.5 Mn in 2020, respectively, and is projected to register CAGR of 27.3% and 29.3% through 2031.

Wireless Charging ICs Market Outlook 2021 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis And Share By Forecast 2031

ESOMAR-certified consulting firm Future Market Insights (FMI) has published a report on the global wireless charging ICs market, studying its growth trajectory for the forecast period between 2021 and 2031. As per the study, increasing adoption of wireless charging technology in automotive and consumer electronics industries will drive sales in the market.

The market will continue to exhibit remarkable growth through 2021 with worldwide revenue up by 15.8% year-over-year in 2021. FMI also projects the market to register growth at 16.7% CAGR, reaching US$ 9.7 Bn by 2031.

Growing sales of electric vehicles across emerging economies such as India, China, and Japan also will spur the sales of wireless charging ICs. Consumers’ preference for autonomous, connected, electric, and wireless vehicles will increase the application of wireless charging technology.

Key manufacturers are continuously upgrading their product portfolio through the integration of artificial intelligence (AI) and internet of thinking (IoT). Recent developments offers by market players are aimed at meeting the consistent demand for advanced technologies in automotive and consumer electronics industries.

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Subsequently, adoption of electric and autonomous-advanced home appliances such as electric toothbrush, earphones, notebooks, and smartphones will increase the sales during the forecast period.

“Demand for sensor and advanced technology to make consumer goods more efficient and smarter has compelled manufacturers to increase the adoption of cutting-edge technologies such as AI and IoT. This is expected to increase the competition in the market, while creating ample growth opportunities for players,“ says the Future Market Insights analyst.

Key Takeaways from Wireless Charging ICs Market Survey

In terms of product type, receivers will hold the leading market share, exhibiting growth at 17.6% CAGR
Over 48% of wireless charging ICs sales to come from medium power range segment
Based on application, consumer electronics application will hold largest market share, creating an incremental opportunity of US$ 3.9 Bn by 2031
The U.S.’s wireless charging ICs market is expected to be the most lucrative market, totalling US$ 330 Mn in 2021
Demand for wireless charging ICs in U.K. is expected to soar at 16.4% CAGR during the forecast period
Japan is expected to account for over 35.7% of global market sales of wireless charging ICs

Key Drivers

Growing adoption of wireless technology in consumer electronics devices will improve the demand
Rising sales of electric vehicles, especially across emerging economies, will spur the sales of wireless charging ICs
Increasing adoption of artificial intelligence to improve the efficiency of wireless charging devices will create conducive environment for key players, spurring sales
Increasing application of wireless technology in warehouse management and trucks charging will propel growth

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Key Restraints

Lack of proper infrastructure needed for dynamic charging will restrain the market growth
Declining demand for wireless chargers due to the outbreak of COVID-19 is expected to hamper sales
Preference for traditional charging technology and chargers, especially among baby boomers, is likely to impede growth of wireless charging ICs market

Competitive Landscape

As per Future Market Insights, NXP Semiconductors, Qualcomm Inc., Renesas Electronics Corporation, Analog Devices Inc., and Texas Instruments Inc. are identified as the top 5 players. Adoption of cutting-edge technologies such as artificial intelligence and internet of thinking to improve existing cyber security solutions is the new growth strategy of key players.

Key players are also focusing on expanding their product portfolio through adding innovative capabilities which will assist them in upgrading their existing products.

In January 2021, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced the launch of the world’s first 60W wireless power receiver, the P9418, to deliver faster wireless charging experiences for smartphones, laptops, and notebook devices in the industry’s highest power density solution.
Another leading player, Xiaomi, in January 2021, unveiled its “Mi Air Charge Technology”, which is able to wirelessly charge devices from across a room with 5W of power. This technology offers a ‘true wireless charging’ solution, with no cables or stands using spatial positioning and beamforming energy transmission.
In July 2019, Integrated Device Technology Inc. (IDT), subsidiary of Renesas Electronics Corporation, announced sampling of the P9415 receiver and P9247 transmitter that work together to enable smartphones to change wirelessly with up to 30W of power, narrowing the charging time gap between wireless and wired charging options.

Prominent players operating in wireless charging ICs market profiled by Future Market Insights include:

NXP Semiconductors
Renesas Electronics Corporation
ROHM CO., LTD.
Semiconductor Components Industries, LLC
Qualcomm Inc.
Texas Instruments
Analog Devices, Inc.
Vishay Intertechnology, Inc.
Toshiba Corporation
WiTricity Corporation
Powercast Corp
PLUGLESS POWER INC
Semtech Corporation
MediaTek Inc.
Others

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More Valuable Insights into Wireless Charging ICs Market

In its latest report, Future Market Insights offers comprehensive insights on the global wireless charging ICs market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study offers incisive coverage on the global wireless charging ICs market with an unbiased analysis, segmented on the basis of:

By Product:

Transmitters
Receivers

By Power Range:

Low (<15 Watt)
Medium (16-50 Watt)
High (>51 Watt)

By Application:

Automotive
Consumer Electronics
Healthcare
Others

By Region:

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

Key Questions Covered in the Wireless Charging ICs Market Report

The report offers detailed insights into wireless charging ICs demand outlook for 2021-2031
The market study also highlights projected sales growth for wireless charging ICs market between 2021 and 2031
Wireless charging ICs market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Wireless charging ICs market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

AI In Fraud Management Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects And Forecasts To 2031

As per recent data released by Future Market Insights (FMI), the global AI in fraud management market is projected to reach US$ 39.5 Bn in 2031, exhibiting a remarkable 18% CAGR during the forecast period.

Rising incidence of data theft, phishing, and payment fraud is encouraging enterprises across the globe to invest in robust online security systems. This trend is translating into innovations and product developments in the global AI for fraud management market.

During the COVID-19 crisis, an alarming rise in cybercrimes across various industries has been observed. Increasing dependence on eCommerce and online payment methods resulted in high demand for fraud management systems and the trend is anticipated to continue over the assessment period.

Rapid technological developments and digital transformation across various sectors are providing tailwinds to sales of AI-powered fraud management software and services. AI systems can be programmed to detect theft, identify malware and protect sensitive data for enterprises, which in turn is spurring demand for sophisticated AI-powered services.

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In addition to this, increasing concerns regarding safety of public data in the banking, financial services, and insurance sector are propelling sales of AI in fraud management software and services. With government institutions, banks, and financial institutes tackling high amounts of data breach threats, the demand for AI in fraud management is projected to rise during the forecast period.

FMI estimates the U.S. to dominate the North American AI in fraud management market. Growth can be attributed to growing demand for efficient fraud management systems in sectors such as healthcare, education, banking, retail, and eCommerce.

“Increasing demand for operational accuracy in enterprises, coupled with the incorporation of technologies such as big data, machine learning and cloud computing in AI-powered services for cyber security will continue augmenting AI for fraud management market growth,” says FMI analyst.

Key Takeaways:

Based on software type, sales of AI-powered fraud prevention software are projected to remain high, accounting for 71% of the total market share.
Applications of identity theft protection are anticipated to grow at an impressive 19.8% CAGR during the assessment period.
Demand for AI in fraud management in large enterprises is estimated to rise at a steady pace, owing to increasing cases of data breaches and phishing.
AI in fraud management applications are projected to increase in the BFSI sector, accounting for 24% of the total market share in 2021.
The U.S. is estimated to hold 84% of the North American AI in fraud management market share.
The U.K. will emerge as an attractive market, with sales projected to rise at a prolific 20.7% CAGR during the assessment period.
The Chinese AI in fraud management market is projected to top US$ 521.0 Mn in 2021, due to increasing incidence of credit card fraud and mobile fraud.
AI in fraud management market in India is poised to expand at an impressive 28% CAGR, owing to government policies issued for online security.

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Prominent Drivers:

Product development and the introduction of AI-powered software and services will boost sales in the market.
Government regulations mandating the integration of cyber security software across various sectors will propel sales of AI in fraud management services and software.

Restraints:

Failure in software deployment and the complex nature of AI-powered solutions might hamper sales.

Competitive Landscape

As per FMI’s analysis, the global AI in fraud management market is steered by dominant players such as IBM Corporation, Capgemini SE, Cognizant, and Splunk, Inc. Leading players operating in the market are emphasizing on product developments and innovations to expand their product portfolios. For instance:

In December 2020, Cognizant announced the acquisition of UK-based Inawisdom, a privately held consultancy specializing in artificial intelligence, machine learning, and data analytics. Inawisdom provides cloud-native and full-stack solutions using an analytics and machine learning program built using Amazon Web Services (AWS).

Leading players operating in AI in Fraud Management Market profiled by FMI include:

IBM Corporation
Cognizant
Temenos AG
Capgemini SE
Subex Limited
JuicyScore
Hewlett Packard Enterprise
MaxMind, Inc.
BAE Systems plc
Pelican
SAS Institute Inc.
Splunk, Inc.
DataVisor, Inc.
Matellio Inc.
ACTICO GmbH

More Insights on FMI’s AI in Fraud Management Market

The latest market study on the AI in fraud management market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global AI in fraud management market potential, its growth, trends, and opportunities, the market is segmented on the basis of:

Solutions:

AI-powered Fraud Prevention Software
- Cloud-based
- On-Premises
Services
- Professional Services
  - Risk Assessment Services
  - Fraud & Risk Consulting
  - Integration & Implementation
  - Support & Maintenance
- Managed Services

Applications:

Identity Theft Protection
Payment Fraud Prevention
Anti-Money Laundering

Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

Industry:

BFSI
IT & Telecom
Healthcare
Government
Education
Retail & CPG
Media & Entertainment

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

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Key Questions Covered in AI in Fraud Management Market Report

The report offers detailed insights into AI in fraud management market demand outlook for 2021-2031
The market study also highlights projected sales growth for AI in fraud management market between 2021 and 2031
AI in fraud management market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
AI in fraud management market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

Unified Communication As A Service (UCaaS) Market 2021 By Global Key Players, Types, Applications, Countries, Industry Size And Forecast To 2031

A recent market study published by Future Market Insights (FMI) on the unified communication as a service (UCaaS) market includes a global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.

The Unified Communication as a Service (UCaaS) market revenue totalled US$ 19.6 Bn in 2020, according to Future Market Insights (FMI) analysis. Rising at a CAGR of 14.5% between 2021 and 2031, the overall market is expected to reach US$ 85.7 Bn by 2031.

The demand for UCaaS solutions will accelerate with top 5 providers holding around 36.5% of total market in 2020.

Newly released data on the UCaaS demand outlook indicates 12.8% y-o-y growth in 2021. Among industry vertical, share held by BFSI sector will remain highest among all. However, the IT & telecom segment will grow at 18.1% CAGR through the assessment period.

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COVID-19 Impact Analysis on UCaaS Market

The outbreak of coronavirus (COVID-19) has created the need for organizations to adapt today’s fast-paced world where the business continuity is a must. The outbreak of COVID-19 pandemic is marking a rare occasion where business leaders globally have to quickly enable their workforces to work remotely for an extensive period of time.

Owing to this factor, organizations are incorporating remote work into their businesses where the communication and remote work policy holds the key to meet the expectation between management and workforce.

According to Future Market Insights, the COVID-19 pandemic is expected to accelerate the adoption of cloud computing not just as a technological shift, but also as an operating model as enterprises across the globe acknowledge limitations of their current situation.

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Key Takeaways: UCaaS Market

By solution segment, the integrated UCaaS platform/suite is anticipated to account for the leading share in the global UCaaS market during the forecast period. The segment estimated to grow at a robust CAGR of 17.3% through 2031.
The demand for UCaaS in small and medium enterprises (SMEs) is expected to rise at maximum pace as these organizations continue adopting UCaaS and cloud based solutions for better ROI.
Demand for UCaaS in IT & Telecom and BFSI sector is estimated to grow at an impressive CAGR. Of these, BFSI industry is expected to account for leading share in UCaaS market during the forecast period.
North America is expected to lead the market followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
The market in Japan is expected to progress at a CAGR of more than 17% through 2031.
In the U.K., sales are expected to increase at a CAGR of close to 18% over the next ten years.

“Increasing adoption of cloud-based communication and collaboration tools such as web conferencing, cloud storage, unified messaging and others, especially during lockdown imposed to contain the COVID-19 outbreak is creating opportunities for the UCaaS market. The demand will continue surging as more organizations roll out work from policies to ensure employee safety,” says FMI analyst.

Competitive Landscape

Intense competition and growing customer expectations are creating a storm in the global UCaaS market which is compelling solution providers to innovate and improve customer engagement. The accelerated shift by the customers to cloud communication is creating a demand for enhanced user productivity and flexibility and is creating the opportunities for advanced communications and collaboration tools.

For instance, in May 2021, 8×8, Inc. announced Experience Communications as a Service (XCaaS), a cloud communications deployment model that erases the boundary between Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS). With XCaaS, organizations can support the communications requirements of all employees as they work together to deliver differentiated customer experiences.

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Some of the leading companies operating in the market are:

8×8 Inc.
Cisco Systems, Inc.
Google LLC
Microsoft Corporation
LogMeIn Inc.
RingCentral, Inc.
Mitel Networks Corporation
Fuze Inc.
Windstream Holdings, Inc.
ALE International
DIALPAD, INC.
Verizon Communications Inc.
NTT Communications Corporation
Vonage
Masergy Communications, Inc.
Avaya Inc.

Key Questions Answered

Which region is expected to showcase growth in UCaaS solutions?
South Asia & Pacific is projected to register strong growth in the global UCaaS market at a CAGR of above 19% during the forecast period. However, North America currently leads the global market, with market share of nearly 33% in 2021.
Which is the most attractive standalone solution in the UCaaS software?
Hosted IP Telephony/VoIP is currently the most attractive in the market, accounting for over 40% of revenue generated in 2020. However, collaboration platforms is expected to witness robust CAGR of over 17% throughout the forecast period.
Which are some of the leading companies offering UCaaS solutions?
Some of the leading companies in this landscape are Cisco Systems, Inc., Microsoft Corporation, Google LLC, Vonage, RingCentral, Inc., and Verizon Communications Inc. among others. As per FMI, nearly 60% of the market share is currently covered by the top 15 players.
Who are the leading industries of UCaaS?
BFSI sector is expected to dominate the market over the forecast period, generating revenue of US$ 23.8 Bn by 2031. However, IT & telecom sector is estimated to boost majorly with a CAGR of 18.1% over the forecast period.
How much is the global UCaaS demand worth?
The UCaaS industry was valued at ~US$ 19.6 Bn in 2020, and is estimated to grow at an exceptional pace with a CAGR of 14.5% to reach US$ 85.7 Bn in 2031.
What will be the demand outlook/ sales forecast for UCaaS?
The UCaaS sales is expected to be valued at ~US$ 22.2 Bn by the end of 2021, and is likely to reach ~US$ 85.7 Bn by 2031.
What was the last 5 year market CAGR?
The market in last 5 years (2016 – 2020) grew by a CAGR of 10.7%.

What are the key trends of UCaaS industry?
Key trends in the market includes:Focus on Training and Offering Advanced Solutions

Growing Popularity of Three-Dimensional Video Conferencing

Rising Demand for Remote Solutions to Boost Market Growth

What is driving demand of UCaaS?
The rising demand for cloud based communication, increase in mobile workers, and transformation and adoption of technologies such as AI, IoT, and analytics are the key factors driving the market growth.
Which countries are key providers of UCaaS market?
Countries involved in providing UCaaS solutions include the U.S., Canada, France, and Japan.
At what rate will the UCaaS adoption rise between 2020 and 2021?
The global UCaaS market is expected to register growth at 12.8% CAGR between 2020 and 2021.
What are the top 5 countries driving UCaaS demand?
Top 5 countries driving demand for UCaaS include the U.S., China, Germany, U.K., and ASEAN countries.
What is the North America UCaaS Market Outlook?
North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, the U.S. is expected to account for more than 83% of the North America market through 2031.
How will the UCaaS Market Growth unfold in Europe?
The UCaaS industry in Europe is estimated to expand at a CAGR of 13.6% over the forecast period.
What is the key UCaaS market statistics in South Korea and Japan?
The UCaaS demand in Japan and South Korea was valued at US$ 1,197.0 Mn and US$ 754.8 Mn in 2020, respectively and is projected to register CAGR of 17.3% and 15.0% respectively between 2021 and 2031.