Collaboration Tools Market is projected to grow from US$ 39.4 Bn in 2023 | Future Market Insights, Inc.

The collaboration tools market size is expected to reach US$ 39.4 billion in 2023. It is estimated to reach US$ 115.5 billion by 2033, recording a CAGR of 11.4% from 2023 to 2033. The widespread availability of the internet allows employees to work from anywhere in the world. So, for effective teamwork, firms must use current working methods and technologies that enable coworkers to share their work in a simple and efficient manner regardless of geographical boundaries. Therefore, collaboration tools become useful in efficient communications.

Collaboration technologies are designed to help organizations communicate more effectively. Collaboration software comes in many different shapes and styles, such as video conferencing, chat apps, a project management tool to share online document storage, and so on.

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The market growth has been stifled by issues such as a lack of a company-wide collaboration strategy, a slow adoption rate, a poor user experience, and data security. Therefore, developments such as the incorporation of business information in collaboration software, technical advancements, virtual and augmented reality in collaboration solutions, and so on will drive market expansion in the coming years.

Rising demand for Unified Communication

A group of business communication technologies that have been combined and integrated into a single management system is referred to as unified communication and collaboration. The usage of these technologies is likely to boost the market for collaboration tools.

Unified communication and collaboration tools provide a consistent user experience by combining various technologies and tools, such as voice, instant messaging, desktop sharing, video and audio conferencing, and cloud architects, to enable people to collaborate more effectively anywhere and on any device.

The growing popularity of social networking and cloud computing is expected to be a significant growth factor in the worldwide collaboration tools market. The growing demand for better and more effective business solutions is expected to increase the demand for collaboration technologies.

The use of collaboration tools is expected to increase as new technologies emerge, such as Artificial Intelligence and Big Data. The increased security among various business and government organizations is another reason for the increased use of collaboration technologies. The growing adoption of cloud technology by small and medium-sized businesses is also driving growth in the global collaboration tools market.

However, over the projected period, poor user interface, and data theft are expected to be the primary challenges impeding the global collaboration tools market.

Key Takeaways

  • The collaboration tools market is expected to record a CAGR of 11.4% from 2023 to 2033.
  • Demand for enterprise communication and collaboration, as well as the adoption of remote working solutions, will drive market expansion.
  • The collaboration tools market is dominated by North America.
  • Asia Pacific is one of the rapidly rising region.

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Key Development

  • In June 2021, Morgan Stanley received Microsoft Azure, which would assure data security and aid in the firm’s cloud shift.
  • In May 2021, Google Cloud delivered secure global connectivity by employing SpaceX’s Starlink to provide high-speed communication across its infrastructure. This would allow enterprises to have seamless and secure cloud access.
  • In December 2020, Adobe completed the acquisition of Workfront, a project management software to track work, time and manage documents.
  • In August 2020, Cisco acquired BabbleLabs, a company that designs and develops communication software. Using strong AI techniques, the company distinguishes human speech from unwanted noise, boosting the quality of communication and conferencing services.

Collaboration Tools Market Outlook by Category

By Solution:

  • Platforms
    • Unified Messaging
    • Enterprise File Sharing & Synchronization
    • Portals & Intranet Platforms
    • Project Management Platforms
    • Enterprise Social Networks
  • Services
    • Integration Service
    • Technical Support
    • Consulting

By Deployment:

  • On-premise
  • Cloud

By Enterprise Size:

  • Small & Medium Enterprises
  • Large Enterprises

By Industry:

  • BFSI
  • IT & Telecom
  • Healthcare
  • Travel & Hospitality
  • Retail & e-Commerce
  • Manufacturing
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • The Middle East and Africa

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Table of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations

3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook

 

Premium A2P and P2A Messaging Market demand is estimated to rise at 5.0% CAGR between 2022 and 2029

The value of the global premium A2P and P2A messaging market, which was estimated to be around US$ 79,601.0 million in 2021, is expected to rise at a CAGR of 5.0% to US$ 1,17,695.0 million by 2029. The market for premium P2P and A2P messaging makes up almost 55% of the market for customer communication.


The growth of the premium A2P and P2A messaging markets will keep accelerating as a result of ongoing improvements in customer communication services. The demand for SMS-powered two-factor authentication, an increase in the number of mobile subscribers, and a growing trend in mobile marketing via messaging are some of the factors that are fueling the growth of the premium A2P messaging and P2A messaging markets.

Competitive Landscape

Major solution vendors are inclined at investing heavily in customer communication technology innovations to uncover increased applications of premium A2P and P2A messaging. The vendors are also focusing on strategic partnerships and collaborations for captivating competitive market positioning and increased market shares.

  • For instance, In August 2019, Comviva joined hands with N-able Pvt Ltd. as a local strategic alliance partner to catalyze digital services in Sri Lanka. N-able leveraged Comviva’s innovative offerings to the telecom service providers in Sri Lanka, through its Digital Services Delivery Platform (DSDP).

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Key Companies Profiled

  • Tata Communications Ltd
  • Nexmo (Vonage Holdings)
  • Syniverse
  • AT&T
  • CLX Communications (Sinch AB)
  • TWILIO INC.
  • Mahindra Comviva
  • SAP SE
  • Enghouse Networks
  • Vodafone
  • OpenMarket (Amdocs)
  • Mavenir
  • Infobip
  • mGage

Premium A2P (Application-to-Person) messaging refers to the sending of text messages from a business or application to a person’s mobile phone. This type of messaging is used for things like appointment reminders, marketing campaigns, and notifications. P2A (Person-to-Application) messaging refers to messages sent from a person’s mobile phone to an application or business. This type of messaging is typically used for things like customer service inquiries, complaints, and feedback. Both A2P and P2A messaging can be done via SMS (Short Message Service) or other messaging platforms like WhatsApp or RCS (Rich Communication Services).

Enterprises Focusing on RCS (Rich Communication Services)

Rich communication services allow senders and receivers to communicate in two ways. Consumers can tap on their screens to respond to RCS messages. It is expected that advertisers and marketers will take advantage of it, but its implementation will reach across all companies. RCS is not yet widely accepted, and in the next five years, just 10% of smartphones are projected to be able to receive RCS messages according to FMI research. RCS will yield significantly better results than SMS, but it will take a couple of years for it to hit its pace. RCS currently has nearly 170 million worldwide subscribers. This application is regarded as a vibrant new business alternative for companies.

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Premium A2P and P2A Messaging Market Outlook by Category

By Application:

  • Inquiry and Search Related Services
  • Customer Relationship Management Services
  • Authentication Services
  • Promotional and Marketing Services
  • Notifications and Alerts
  • Voting and Entertainment
  • Pushed Content Services
  • Interactive Messages
  • Others

By Traffic:

  • National
  • International

By Tools:

  • Cloud API Messaging Platforms
  • Traditional and Managed Messaging Services

By End User:

  • BFSI
  • IT and Telecom
  • Media and Entertainment (including Gaming)
  • Travel and Transportation
  • Retail and e-Commerce
  • Healthcare
  • Government
  • Utilities and Logistics
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • Middle East & Africa
  • GCC Countries

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Curling Irons Market is Expected to Surge Beyond US$ 4,918.2 Million by 2033 | FMI

The global curling irons market is expected to surge beyond US$ 4,918.2 million by 2033. The CAGR during the forecast period is projected to be at 7.1%. In 2023, the market size is anticipated to be at US$ 2,471.5 million.

There has been a rapid increase in the growth rate of salon services market. As per the market research conducted, the salon services market was valued at US$ 247 billion in 2022. The professionals who are into providing hair services are making use of curling irons to assist customers with the kind of hairstyle they need. This might surge the demand for curling irons during the forecast period.

With rapid urbanization, there has been a surge in the disposable income. This has led to people investing huge amounts in order to improve their personalities. This has led to the massive growth of personal development market which is expected to be valued at US$ 49 billion in 2023. This as well is expected to increase the demand for curling irons in the future.

The manufacturers are investing in the latest technology, and research and development in order to develop smaller, lighter and robust curling irons. This may even lead to the reduction of the overall cost.

Thus, from the insights provided by FMI researchers, it can be inferred that ‘surging salon services market, personal development market, and massive investments being made for technological upgradation is expected to increase the curling irons market size during the forecast period.’ 

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Key Takeaways:

  • In 2023, the valuation is expected to be US$ 2,471.5 million.
  • The market is projected to record a CAGR of 7.1%.
  • By 2033, the numbers may breach US$ 4,918.2 million.
  • On the basis of regional analysis, North America is expected to be the dominant market.
  • The United States held a market share of 80.4% in North America region.
  • Germany held a market share of 18% in Europe region.
  • China held a market share of 39.7% in Asia Pacific region.
  • Japan held a market share of 39% in Asia Pacific region.
  • India held a market share of 25.9% in Asia Pacific region.
  • Australia held a market share of 64%.
  • On the basis of sales channel, the hypermarket/supermarket was highly sought-after segment, and held a market share of 45.1%.
  • On the basis of application, the commercial segment held the leading position, and had market share of 72.5%.

Competitive Landscape

The key players operating in the market are investing heavily on mergers and acquisitions. This may give them an edge in terms of market share. Moreover, the manufacturers are also making use of green materials in order to work towards sustainable development. The manufacturers are also entering into strategic collaboration in order to access new forms of technology. The key players are also bringing onboard the C-level executives who have been a part of the market for decades. This is done to implement newer strategies and garner higher market share.

In November 2022, Philips debuted its new AI-enhanced informatics solutions to increase diagnostic confidence with intelligence at every step of the radiology workflow at RSNA.

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Curling Irons Market by Category

Product Type:

  • Curling Tongs
  • Curling Wands

Price Range:

  • Economic
  • Mid-Range
  • Premium

Material Type:

  • Ceramic
  • Plastic
  • Steel
  • Titanium
  • Iron

Type:

  • Corded
  • Cordless

Application:

  • Household
  • Commercial

Sales Channels:

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Discount Stores
  • Independent Small Stores
  • Multi-brand Stores
  • Online Retailers
  • Other Sales Channels

Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific excluding China & Japan
  • Japan
  • China
  • Middle East & Africa

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About Future Market Insights, Inc.

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

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Medical Loupes Market is Predicted to Reach US$ 588.9 Million in 2033

Global medical loupes market size is predicted to reach US$ 588.9 million in 2033 with a projected CAGR of 5.6% during the forecast period. The rise in minimally invasive surgeries has driven the demand for medical loupes. As the aging population increases and the prevalence of chronic diseases rises, there is an increase in surgeries and procedures that require enhanced visualization and precision, which medical loupes provide.

Flip-up and TTL medical loupes are some of the latest products gaining popularity in the market. Manufacturers are leveraging advanced materials and technologies to drive the growth of the market. The growth of the medical loupes industry is being driven by the increase in demand for minimally invasive surgeries.

Medical loupes provide surgeons with the necessary magnification and clarity to perform such procedures with ease, which can reduce the risk of errors and complications during surgeries, leading to better patient outcomes. In addition, the growing preference for outpatient surgeries is also expected to drive the demand for medical loupes during the forecast period.

AR systems, a hybrid magnification approach that allows physicians to perform suturing procedures accurately, are being leveraged in the healthcare sector. AR systems not only improve the vision but also track the movement of tools, and manufacturers are launching loupes equipped with AR to augment the growth of the market.

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Despite prospects, there are likely challenges that stay ahead for the industry. Limited awareness regarding the usage of medical loupes in emerging economies and highly advanced medical loupes that are considered more complex and expensive.

Technological advancements in the design and functionality of medical loupes are expected to bode well for the market. Manufacturers are launching loupes with AR technology, flip-up, and TTL medical loupes, and are leveraging advanced materials and technologies to drive the growth of the market. The growing adoption of medical loupes in restorative dentistry and endodontic practices are likely to continue pushing sales over the forecast period.

Key Takeaways from the Medical Loupes Market:

  • With a share of 74.1% throughout the projected period, the United States is expected to be an appealing medical loupes sector.
  • In 2022, India accounted for 46.5% of the medical loupes market.
  • The demand for medical loupes in dentistry is predicted to increase in the United Kingdom. According to the analysis, the medical loupes industry in the United Kingdom accounted for 19.8% of the total market share in 2022.
  • In 2022, Germany’s medical loupes industry held a 23.7% share.
  • In 2022, China’s medical loupes sector held a 55.4% share.
  • In recent years, the medical loupes industry has expanded significantly, with the flip up loupe segment emerging as a dominating player, accounting for 61.3% of sales.
  • The surgical application segment accounted for 59.9% of the medical loupes market in 2022.
  • In terms of sales channels, the offline category is likely to grow rapidly during the forecast period.

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Who is Winning?

The medical loupes industry is highly competitive with a large number of players operating in the market. Some of the key players in the market include Carl Zeiss Meditec AG, Orascoptic, Surgitel, SheerVision, Univet Optical Technologies, Keeler Ltd., and Enova Illumination.

These companies are actively engaged in research and development to improve the quality and functionality of their products. They are also expanding their distribution networks to reach a wider customer base, including online channels.

The market is also witnessing the entry of new players, which is intensifying the competition further. These new entrants are leveraging advanced technologies to offer innovative products that can meet the changing needs of customers.

In addition, mergers and acquisitions are a common trend in the market as companies seek to strengthen their market position and expand their product portfolios. For example, in 2019, Danaher Corporation acquired the dental business of Envista Holdings Corporation, which includes the brands KaVo Kerr, Nobel Biocare, and Ormco.

Overall, the competition in the medical loupes industry is expected to remain intense, and companies will need to focus on continuous innovation, quality, and customer service to stay competitive in the market.

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Medical Loupes Market By Category

Product Type:

  • Through The Lens (TTL)
  • Flip Up Loupe

Lens Type:

  • Galilean
  • Prismatic

Application:

  • Dentistry
  • Surgical

Sales Channel:

  • Online
  • Offline

Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific excluding China & Japan
  • Japan
  • China
  • Middle East & Africa

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 Inc.
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Hardware Security Module Market is expected to reach US$ 6.6 Bn in 2032

A hardware security module is a novel platform that is used to safeguard and manage cryptographic keys for strong authentication. It is also used to protect physical devices from threats that allow unauthorized access to an organization’s systems.

By strengthening encryption processes, hardware security modules secure data, identities, and transactions within the network. Thus, enterprises worldwide are focusing on investing in HSMs to achieve higher levels of data security, mitigate risks, build customer trust, maintain high service levels, and achieve agility.

According to a report by Future Market Insights (FMI), the global hardware security module (HSM) market size is anticipated to grow at a CAGR of 16.2% during the forecast period from 2022 to 2032.

The report further states that the hardware security module market is set to reach a valuation of US$ 1.47 Bn by the end of 2022. Exponential rise in cyber breaches is resulting in the loss of confidentiality, integrity, and availability of crucial data. On account of that, companies have started focusing on the adoption of encryption management platforms that provide a high level of security to protect their infrastructure and data.

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Key Takeaways: Hardware Security Module Market

· By type, the USB-based/portable HSMs segment is expected to grow at a CAGR of 18.0% during the forecast period (2022-2032).

· In terms of application, the payment processing segment is anticipated to grow at a CAGR of 18.5% between 2022 and 2032.

· By sales channel, the distribution channel (integrators, distributors, and VARs) segment is projected to grow at a CAGR of 16.5% between 2022 and 2032.

· Based on industry, adoption of hardware security modules in the manufacturing sector is anticipated to grow at a CAGR of 18.4% in the upcoming decade.

· In Europe, the U.K. is likely to generate about 18.8% of the hardware security module market share in the evaluation period.

“Companies are adopting PCIe-based HSMs to protect online payment applications and credit card transactions. Ability of these HSMs to offer stronger centralized control via secure remote management, transmission, and backup is fueling demand in the market,” says an FMI analyst.

Increasing Adoption of Digital Signatures to Open New Opportunities for Key Players

Many document-based processes in a wide range of industries require signatures. Physical signatures tend to slow down their operations as they are easily alterable, tampered with, and inconvenient in today’s world.

A digital signature is generally viewed as safer than a physical signature that is used on a paper-based document. Digital signatures can authenticate electronic documents by providing data integrity and non-repudiation. They are considered to be the most convenient way to sign important documents such as contracts and invoices.

Hardware security modules are used to initiate digital signing by using long-term and short-term signature certificates. HSMs provide a safe environment required to generate and protect cryptographic keys that are needed to validate sensitive data. These help in saving costs and automating workflows while also ensuring document integrity and meeting compliances.

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Competitive Landscape

To establish a strong foothold in the lucrative hardware security module market, key players are focusing on adopting various organic and inorganic strategies. They are mainly engaging in collaborations with local companies, new product launches, acquisitions, partnerships, as well as expansion of regional and global distribution networks to compete with their rivals.

  • In February 2022, Securosys and Randtronics established a strategic agreement to integrate the former’s CloudsHSM portfolio with the data privacy manager (DPM) of Randtronics. Enterprises can use the hardware security module of Securosys with Randtronics’ DPM to securely manage their cryptographic keys throughout their organizations.

Hardware Security Module Market Outlook by Category

By Type:

  • LAN-based HSMs/Network-attached HSMs
  • PCIe-based/Embedded Plugin HSMs
  • USB-based/Portable HSMs

By Application:

  • Payment Processing
  • Code and Document Signing
  • SSL and TLS
  • Authentication
  • Database Encryption
  • PKI or Credential Management
  • Application-Level Encryption

By Sales Channel:

  • Direct Sales Channel
  • Distribution Channel (Integrators, Distributors, VARs etc.)

By Industry:

  • BFSI
  • Healthcare & Life Sciences
  • Manufacturing
  • Retail & CPG
  • Government & Defense
  • Energy & Utilities
  • Others

By Region:

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

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Car Rental Service Market Valuation of US$ 153.4 Billion in 2023 | Report by FMI

The global car rental market is projected to accrue a value of US$ 307.5 billion by 2033, with the demand growing at a healthy CAGR of 7.2% from 2023 to 2033. The market will likely reach an estimated US$ 153.4 billion in 2023.

Substantial growth in the number of people taking business and leisure travel trips is spurring the demand for the car rental market in the forecast period. The widespread access to and use of the internet across developing as well as developed nations have helped enterprises in the market to expand their customer base with the aid of mobile applications. In addition, the subscription model introduced by many market players is expected to contribute to market growth.

Rapid advancements in technology are anticipated to be an essential factor aiding the expansion of the market size. Technologically-empowered web-based solutions like online sales and booking channels enable consumers to rent a car at their convenience and ease. Technological advancements in this sector have improved customer and corporate information management and enabled hassle-free internet bookings. These considerations will supplement the growth of the car rental market.

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Again, the heightened dependency of  consumers on smartphones for carrying out myriad tasks- tasks that were conventionally done by computers- has altered the car rental experience for consumers. This is because swift technological progress has helped enterprises in this sector to introduce various applications that will ensure a smooth booking process for consumers which, in turn, drives global market growth.

The market is also significantly influenced by the introduction of concepts like opaque renting which is a booking platform that allows online customers to offer the value that they will pay for a specific travel-related product or service without knowing the brand beforehand. The brand is only revealed after the consumer makes an online purchase. This concept, thus, enables car rental businesses to grow and use their fleet to their full capacity. This trend is expected to have an immense impact on the car rental services market. Hence, technological advancements in mobile capacities along with advancing web-based media enable the growth of opaque renting which, in turn, drives the overall car rental market growth.

Key Takeaways:

  • Sharp rises in fuel prices will likely serve as an impediment to the global car rental services market.
  • Favorable government initiatives like the implementation of policies regarding the reduction of carbon emissions will likely strengthen market prospects.
  • The car rental market in the US will be driven by the presence of market leaders like The Hertz Corporation.
  • China’s car rental market will dominate the East Asia region with East Asia registering a CAGR of 10.8% from 2023 to 2033.
  • By car type, the economy cars segment will dominate the international marketplace.
  • Based on end-users, the on-airport segment will account for over 40% of the market share.

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Competitive Landscape 

Enterprise Holding Inc., The Hertz Corporation, Localiza-Rent A Car, Sixt SE, and Avis Budget Group, among others, are a few of the significant players in the car rental market profiled in the full version of the report.

In a competitive market, key players are keen on capitalizing on ongoing technological advancements. These organizations make use of web and mobile-based advancements to attract a wider consumer base. Strategic service offerings, mergers, and acquisitions are also employed by these participants to gain a competitive edge. For instance, Localiza Rent A Car SA merged with Car Rental Systems in 2020 to meet strategic guidelines for simplification and administrative and financial rationalization.

More Insights Into Car Rental Market 

In its latest report, FMI offers an unbiased analysis of the global car rental market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. The report offers insights into a ten-year sales prospect, market drivers, opportunities, trends, and challenges. For a better understanding of the global market potential, growth, and scope, the market is segmented on the basis of car type, end-use, booking mode, sector, and region.

As per FMI reports, based on segmentation, the mobile app booking mode will be the most preferred booking segment during the assessment period. This category will register a CAGR of about 8% during this period. In terms of car type, though the economy segment will lead, the intermediate car type will register a significant CAGR of 7.5% from 2023 to 2033. Based on region, East Asia and South Asia will emerge as remunerative pockets for the car rental market. Where the East Asian car rental market will witness a 10.5% CAGR, the South Asian market is expected to undergo a CAGR of 8.8% from 2023 to 2033. This is attributed to the expanding tourism sector in countries like China and India. Other countries like the US and Germany will also contribute to the growth of the car rental market.

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Car Rental Services Market by Category

By Car Type:

  • Economy Cars
  • Compact Cars
  • Intermediate Cars
  • Premium Cars
  • Luxury Cars
  • Others

 By End Use:

  • Intercity
  • Intracity
  • On-Airport
  • Others

By Consumer Type:

  • Business
  • Leisure

By Booking Mode:

  • Offline Access
  • Mobile Application
  • Other Internet Access

By Sector:

  • Organized
  • Unorganized

By Region:       

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
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FIDO Authentication Market is expected to grow at high CAGR of 23.1% 2023 to 2033

FIDO (Fast IDentity Online) is an open authentication standard designed to provide secure and convenient authentication for online services. FIDO aims to replace traditional passwords with stronger, easier-to-use forms of authentication, such as biometrics (e.g. fingerprints, facial recognition) and security keys.

The standard is designed to be device and platform-agnostic, allowing for seamless authentication across multiple devices and services. FIDO authentication provides increased security compared to passwords, as the authentication credentials are stored on the user’s device and never shared with the service provider. Key players in the FIDO authentication market include Yubico, Google, Microsoft, and Feitian.

In 2022, the revenue from FIDO authentication solutions reached US$ 1,238.6 Mn. The entire market is anticipated to increase at a CAGR of 23.1% from 2023 to 2033, reaching US$ 12,059.7 Mn. The market’s level of competitiveness will rise as the demand for FIDO authentication solutions keeps growing. According to the FMI projection, the top 5 providers would control roughly 69.4% of the market in 2022. Nearly 15% of the worldwide authentication market is made up of FIDO authentication.

The use of passwords for authentication and identification is no longer necessary thanks to FIDO authentication, which substitutes a number of other methods for quicker and more secure password-less authentication.

The market has FIDO (First Identity Online) Alliance, which could be referred to as one of the non-profit organizations including tech giants like Microsoft, Apple, and Facebook, is pressing for implementing much stronger security, especially when ‘work from home’ is the ‘new normal’. FIDO U2F (Universal 2nd Factor) security key is getting publicized as a security protocol facilitating secured access to Internet users through single physical security key. Trends like these are certainly helping the FIDO authentication market to grow inadvertently in the upcoming period.

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The key players are looking for replacing conventional complex and static passwords with various advanced options of authentication, which are inclusive of PIN and biometrics. Several advantages of FIDO authentication like reduction of costs, standardization, and appropriate authentication are driving incorporation of FIDO authentication solutions all across.

There is a rise in cloud-based resources, remote access, and various mobility solutions; which is compelling the enterprises to go for simple-to-manage solutions to lessen exposure to endpoint attack. Trend of BYOD (Bring Your Own Device) coupled with rise in vulnerability of data against deploying novel applications is also expected to propel the FIDO authentication market. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘FIDO Authentication Market’. The diligent team of analysts and consultants is there to execute. Macros as well as micros are being worked upon.

Key Takeaways from FIDO Authentication Market

· North America holds the largest market share due to the US being subject to rising demand for FIDO-based authentication solutions in several verticals like BFSI, telecommunication, healthcare, and likewise. Also, with hybrid model in place, it’s imperative to outshine privacy and advanced security threats.

· Europe is led by the UK, which is expected to stand tall with aa CAGR of 23.4% in the forecast period. It’s interesting to learn that the economy of the UK is being empowered by platform business models, big data, smartphone technology, advanced analytics, and peer-to-peer networks. Additionally, the governments over here are on a vigil with increasing incidences of terrorist financing and money laundering. The EBA (European Banking Authority) did start prioritizing fraud management for the EU since 2020.

· The Asia-Pacific is led by countries like India, China, and Japan. The FJWG (FIDO Japan Working Group) is created for addressing the growing inclination toward FIDO authentication, especially from stakeholders. India is expected to witness an incredible CAGR in FIDO authentication market (33%) due to the country increasingly using digital certificates and PKI for ascertaining online transactions.

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Competitive Landscape

· Aware, Inc., in January 2021, announced launching AwareABIS. It comes across as one of the automated biometric identification systems (ABIS) used for biometric deduplication and identification. AwareABIS thus expends support to face, fingerprint, and the iris modalities. It also has a modular architecture helping security teams configure and later optimize system for criminal or civil applications.

“With mobile and web applications being increasingly adopted, advanced security solutions are inevitable. This factor is expected to revolutionize the FIDO authentication market”, says an analyst from Future Market Insights.

· FIDO authentication helps in catering to requirement for secured application, that too, without tampering with user convenience.

FIDO Authentication Outlook by Category

By Solution:

· FIDO U2F Authentication Devices (Security Keys)

· FIDO Authentication SDKs

o FIDO Client SDK

o FIDO Server SDK

· Services

o Technology Consulting

o Integration & Deployment

o FIDO Certification Services

o 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

By Region:

· North America

· Latin America

· Europe

· East Asia

· South Asia & Pacific

· Middle East and Africa (MEA)

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Authentication Technology Innovation / Development Trends

3.2.1. Single Factor Authentication Technology

3.2.2. Two Factor Authentication Technology

3.2.3. Multi Factor Authentication Technology

3.3. Average Pricing Analysis, By Products

4. FIDO Alliance Overview

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Business Analytics BPO Services Market is estimated to grow at an exceptional pace with a CAGR of 13.9% to reach ~US$ 22.9 Bn in 2031

According to the most recent Future Market Insights (FMI) analysis, the global market for business analytics BPO services would be worth US$ 6.2 Bn in 2021. Between 2021 and 2031, the market is anticipated to increase at a CAGR of 13.9%, reaching US$ 22.9 billion.

According to recently released data from FMI, demand for business analytics BPO services is expected to expand by 12.6% year over year in 2021. Although it is anticipated that the manufacturing sector will continue to be the main end user, demand in the BFSI category will increase at a faster rate of 17.6% CAGR throughout the assessment period. In the upcoming years, there will likely be a growth in the need for business analytics BPO services due to the volume of enterprise data and the rising demand for embedded analytics.

Key Takeaways

  • The U.S. is predicted to account for around 86% of the North America market by 2031, supported by the presence of leading market players and increasing outsourcing to emerging countries from BFSI, retail, telecommunication and healthcare sector.
  • Business analytics BPO services market in India is forecast to grow at more than 26% CAGR over the forecast period backed by rapid industrialization and emergence of multiple start-ups in the country.
  • Rising digitalization in small and medium enterprises and incorporation of advanced technical solutions in business processes will drive the sales of business analytics BPO services in U.K. reaching the valuation of US$ 256.9 million by the end of 2021.
  • Increasing demand of business analytics BPO services by small and medium enterprises to acquire and retain customers will drive the market growth in upcoming years.
  • Demand for data analytics & visualization services are estimated to grow at a robust CAGR of 18.6% through 2031.
  • Increasing demand for analytics in financial sector will help the BSFI sector to register remarkable CAGR of 17.6% over the assessment period.

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The business analytics BPO (business process outsourcing) services market refers to the market for outsourcing services related to business analytics. This includes a range of services, such as data analysis, data visualization, and predictive analytics, that are provided by BPO service providers to businesses and organizations.

The demand for business analytics BPO services has been growing in recent years, driven by the increasing need for organizations to make informed decisions based on data-driven insights. Additionally, the increasing adoption of cloud-based business analytics solutions and the growing availability of data are also driving market growth.

The business analytics BPO services market is expected to continue to grow in the coming years, driven by the increasing demand for advanced analytics solutions and the growing need for organizations to remain competitive in an increasingly data-driven business environment. Additionally, the growing need for cost-effective solutions and the increasing trend of outsourcing non-core business functions are also expected to drive market growth.

Competitive Landscape

IBM Corporation, Accenture, Wipro Limited, Capgemini, and Infosys Limited, among others are the leading market players operating this market. FMI states that, they account for more than 60% share in global business analytics BPO services market.

Market players are looking to enter new various developing economies by forming an alliance with regional distributors. They are also focusing on collaborating with regional players to promote innovation and product development along with solidifying their global distribution network.

For instance,

  • Wipro Ltd. recently joined hands with IBM Corporation to design and develop hybrid cloud computing system to assist business manage, migrate and transform mission-critical workloads and applications in IT environments.
  • Accenture PLC completed the acquisition of a data and machine learning business Mudano in February 2020. The acquisition allowed Accenture to upgrade its data transformation and analytics services for financial enterprises in the U.K.

Some of the leading companies operating in the business analytics BPO services market are:

  • IBM Corporation
  • Accenture
  • Wipro Limited
  • Capgemini
  • Infosys Limited
  • Tata Consultancy Services (TCS)
  • HCL Technologies
  • Cognizant
  • Tech Mahindra Limited

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Business Analytics BPO Services Outlook by Category

By Services:

  • Data Analytics & Visualization Services
  • Risk Analytics Services
  • Marketing & Sales Analytics Services
  • Supply Chain Analytics Services
  • Financial Analytics Services
  • Others

By Enterprise Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • BFSI
  • Manufacturing
  • Retail
  • IT & Telecom
  • Government
  • Healthcare
  • Travel & Hospitality
  • Others

By Region:

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

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com

Built-in Large Cooking Appliance Market is Estimated at US$ 12.2 Billion in 2023 | FMI

The global built-in large cooking appliances market is projected to amass a revenue of US$ 21.8 billion by 2033, rising from US$ 12.2 billion in 2023. The market is set to record a moderate CAGR of 5.9% from 2023 to 2033.

This market is primarily driven by the increasing disposable income of consumers across the globe. With growing disposable income levels, more and more consumers are inclined to purchase advanced and innovative products such as built-in large cooking appliances. Further, the introduction of smart home appliances and energy-efficient devices will have a positive impact on the global sales of the built-in large cooking appliances market.

Historically, the market recorded a CAGR of 4.5% from 2018 to 2022 and will grow at a restored 5.9% for the upcoming decade. This growth can be attributed to the availability of improved quality goods at lower costs. In addition, the elevated popularity of smart kitchen appliances, better availability of the same appliances and quality products at affordable prices, constant technological advancement, and growing demand for kitchen appliances owing to increasing population are some of the other factors that drive the built-in appliances market.

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Again, marketing strategies adopted by market players including social media marketing will generate new opportunities for the built-in appliances market in the upcoming years.

The market is significantly influenced by the accelerated demand for energy-efficient appliances. Moreover, favorable government policies and initiatives that aim at promoting the adoption of energy-efficient tools will open new avenues of growth for the market players. Increasing demand for smart homes is also expected to strengthen market prospects.

For example, Samsung Electronics announced a sustainable development plan in 2022 that aims at accelerating the development of environmental-friendly home appliances by increasing the use of recycled plastic in home appliances. Furthermore, the changing retail landscape is also aiding the growth of the built-in large cooking appliances market. Modern retail formats like malls and hypermarkets have amplified market sales with an increase in consumer walk-ins. The introduction of state-of-the-art appliances for integrated kitchens also encourages the growth of the built-in large cooking appliances market.

Key Takeaways:

  • Greater consumer awareness of green technology will drive the growth of the built-in large cooking appliances market in the US.
  • Rising demand for high-end domestic products due to rising living standards will propel the built-in large cooking appliances market forward in China.
  • By product type, built-in cooktops will dominate the global marketplace owing to rapid urbanization and the popularity of western kitchen styles.
  • Based on application, the commercial segment will account for a significant portion of the market share.

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Competitive Landscape 

Robert Bosch GmbH, Samsung Electronics, Morphy Richards, LG Electronics Inc., Whirlpool Corporation, Hitachi Appliances Inc., and Haier Group Corporation, among others, are a few of the eminent participants in the built-in large cooking appliances market profiled in the full version of the report.

In a competitive environment, prominent market players are keen on product development and upgradation. These businesses also focus on launching novel and innovative products. Many of these participants integrate advanced technology into their products and increase their research and development efforts to produce new products that will offer the benefits of Artificial Intelligence and the Internet of Things (IoT). For instance, Robert Bosch GmbH’s Gaggenau luxury home appliances enable consumers to save up to 50 recipes for regularly prepared dishes and also offer smartphone control options.

More Insights Into Built-In Large Cooking Appliances Market 

FMI offers an unbiased analysis of the global built-in large cooking appliances market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. Its latest report offers an in-depth study of a ten-year sales prospect, market drivers, challenges, trends, and opportunities. For a better understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, sales channel, and region.

According to the report, based on segmentation, the online sales channels will gain traction during the assessment period. This sales channel is highly preferred by consumers in the residential sector owing to the convenience and affordability offered by the segment. In terms of application, the commercial category will dominate the global market owing to the high demand created by restaurant owners. Based on the country, China will emerge as a high-potential market for built-in large cooking appliances.

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The target market in this region will reach a significant value by the end of 2033. Increasing demand for high-end products from the domestic sector owing to rising living standards, adoption of advancing technology, and demand for functional but quality products will drive the market in China. The US and India will also present notable growth in the market and thereby contribute significantly to the global growth of the built-in large cooking appliances market.

Built-In Large Cooking Appliances Market By Category

Product Type:

  • Built-in Cooktops
  • Built-in Ovens
  • Others

By Application:

  • Commercial
  • Residential

By Sales Channel:

  • Wholesalers/Distributors
  • Multi-Brand Stores
  • Specialty Stores
  • Hypermarket/Supermarkets
  • Online Retailers
  • Other Sales Channel

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa (MEA)

About Future Market Insights, Inc.

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

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Fiber Optic Gyroscope Market is estimated to grow at 8.3% CAGR by 2031

The fibre optic gyroscope (FOG) market demand prognosis is expected to continue favourable, according to Future Market Insights (FMI), with sales expected to exceed US$ 1,413.2 Mn by 2021. In 2021, the market will expand at a compound annual growth rate of 6.5% due to continued use in military and defence applications for missile flight control, dynamic GPS tracking, and ground detection.

Applications for fibre optic gyroscopes in the military and defence industry are expected to grow at a 7.4% CAGR due to their advantages over competing technologies in terms of cost, dependability, and complexity. In addition, the market is anticipated to pick up steam as applications for remotely automated vehicle guiding technologies grow at a remarkable rate.

The fiber optic gyroscope (FOG) market refers to the market for devices that use fiber optic technology to measure angular velocity. FOGs are widely used in various applications such as navigation, guidance, and control systems in a range of industries, including aerospace, defense, and industrial automation.

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Key Takeaways from Fiber Optic Gyroscope Market Study

  • In North America, the U.S. is expected to dominate the market, accounting for a market share of over 82% in the region through 2031.
  • Owing to increasing adoption of advanced technologies in defense sector, the market in the U.K. is estimated to grow at a CAGR of 12% over the forecast period.
  • India is likely to account for above 54% of the market share in South Asia and Pacific, growing at a CAGR of 13.5% by 2031.
  • Based on sensing axis, 3-Axis will emerge dominant, accounting for a market share of over 42.5% by the end of 2031.
  • Inertial navigation systems are anticipated to contribute a revenue share of around 44.5% in the global market through 2021.

The demand for FOGs has been increasing in recent years due to their high accuracy, low drift, and immunity to magnetic fields. Additionally, the miniaturization of FOGs has made them suitable for use in smaller and lighter devices, which has further increased their adoption.

The FOG market is expected to continue to grow in the coming years, driven by the increasing demand for precision navigation systems in the aerospace and defense industries. Additionally, the growing demand for advanced control systems in the industrial automation industry is also expected to drive market growth.

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Competitive Landscape

Companies operating in the fiber optic gyroscope market are focusing on developing innovative products and forging strategic partnerships with other manufacturers to expand their production and increase the market share.

  • FIBERPRO, a South Korea-based company, launched its new Fiber Optics based Single Axis Gyroscope named, FI 150 in June 2020. The product is able to stabilize the specific attitude of a moving system which can be used in weapons systems, cameras, telescopes, and many more.
  • In June 2020, KVH industries, announced a launch of P-1775 Inertial Measurement Unit (IMU) featuring its new Inside Photonic Integrated Chip (PIC) technology. The technology that upgrades the inertial sensor performance and reliability for the growing autonomous market.

Some of the key players operating in the fiber optic gyroscope market profiled by FMI are:

  • KVH Industries, Inc.
  • EMCORE Corporation
  • FIBERPRO, Inc.
  • Saab
  • Honeywell
  • Tamagawa Seiki Co., Ltd.
  • Optolink
  • NedAero Components B.V
  • iXblue
  • Fizoptika

Fiber Optic Gyroscope Market by Category

By Sensing Axis:

  • 1-Axis
  • 2-Axis
  • 3-Axis

By Device:

  • Fiber Optics Gyrocompass
  • Inertial Measurement Units (IMUs)
  • Inertial Navigation Systems
  • Others

By Application:

  • Aeronautics and Aviation
  • Robotics
  • Remotely Operated Vehicle Guidance
    • Unmanned Underwater Vehicle (UUV)
    • Unmanned Ground Vehicle (UGV)
    • Unmanned Aerial Vehicle (UAV)
  • Military & Defense
  • Industrial
  • Others

By Region:

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

For any Queries Linked with the Report, Ask an Analyst @
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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com