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Cognitive Assessment and Training Market is projected to rise significantly at a CAGR of 17.4% to reach US$ 3.7 Bn by 2028

The Cognitive Assessment and Training Market is estimated at US$ 1.4 Bn in 2022 and is projected to rise significantly at a CAGR of 17.4% to reach US$ 3.7 Bn by 2028.

Future Market Insights (FMI) has recently published a report titled “Cognitive Assessment and Training Market – Global Industry Analysis 2013-2021 and Opportunity Assessment 2022-2028.” Cognitive assessment and training is the mental process of acquiring knowledge and understanding through experience and sense.

Furthermore, these cognitive assessment tools are used to identify individuals who are likely to need additional evaluation. At present, these tests are widely used by organisations as a part of the recruitment process to assess a candidate’s competence & suitability for the role, as well as to predict his/her future performance.

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Cognitive Assessment and Training Market: Overview & Analysis

Owing to these factors, the software sub-segment is also expected to exhibit a 70.2% market share at the end of 2018. In addition, the services segment is also projected to create potential growth opportunities for the vendors of cognitive assessment and training solutions during the forecast period.

Based on type, the global cognitive assessment and training market is segmented into Personal Computer (PC) and mobile & tablet. The mobile & tablet sub-segment is projected to register double-digit growth during the forecast period. This sub-segment registered a 61.8% market share in 2017.

Growth in the income of the middle class population has led to an increase in the purchase of premium smartphones. Hence, the mobile & tablet sub-segment is estimated to generate potential opportunities for the cognitive assessment and training vendors in most of the developed and developing countries.

In recent years, it has been observed that the domestic manufacturing of smartphones has registered double-digit growth in India and China. These factors are also creating the demand for mobile and tablet-based cognitive assessment and training solutions in India and China.

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Global and regional healthcare companies are increasingly adopting advanced technologies to sustain in this highly competitive environment. The global healthcare industry is undergoing technological advancements. Due to these factors, the healthcare industry is projected to have a market share of more than 60% in the cognitive assessment and training market at the end of 2018.

On the basis of geography, North America is expected to dominate the global cognitive assessment and training market due to the advent of next-generation technological advancements in the U.S. and Canada. The cognitive assessment and training market has high potential in China owing to major technological advancements in the country. China is now the most connected country in the world.

According to FMI analysis, long-term contracts with business partners help to increase revenue and new innovation strategies will enable cognitive assessment and training vendors to reach new growth markets. Some of the market participants featured in the global cognitive assessment and training market are IBM Corporation, Cambridge Cognition Limited, NeuroCog Trials, ERT Clinical, Brain Resource Company, WIRB-Copernicus Group, CogniFit, CRF Health, Cogstate Limited and Pearson Education.

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Key Segments of Cognitive Assessment and Training Industry Research

Cognitive Assessment and Training Market by Component:

Cognitive Assessment and Training Software
Cognitive Assessment and Training Services
Cognitive Assessment and Training
Cognitive Assessment and Consulting
Cognitive Assessment and Training Support & Maintenance

Cognitive Assessment and Training Market by Type:

Personal Computers (PCs)
Mobiles & Tablets

Cognitive Assessment and Training Market by End User:

Cognitive Assessment and Training for Healthcare
Cognitive Assessment and Training for Research Organizations
Cognitive Assessment and Training for Education
Others

Cognitive Assessment and Training Market by Region:

North America Cognitive Assessment and Training Market
Latin America Cognitive Assessment and Training Market
Europe Cognitive Assessment and Training Market
East Asia Cognitive Assessment and Training Market

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Wireless Microphone Market is to grow at a CAGR of 8% during the forecast period

A new research study by Future Market Insights (FMI) presents useful insights on the growth in the adoption of wireless microphones across key regional markets. According to the report titled “Wireless Microphone Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028,” the wireless microphone market is growing rapidly due to the changing technological environment that is intensifying the competition among players.

According to the report, the global wireless microphone market is expected to witness a CAGR of 8.0% from 2018 to 2028. In 2017, the market was worth US$ 1,926 Mn and is expected to reach a valuation of US$ 4,496.9 Mn by the end of 2028.

Manufacturers are focussing on offering wireless microphones with high functionality and innovative design in order to acquire a large share in the global market. Some of the key players such as Shure Incorporated, DPA Microphones, RODE Microphones, Samson Technologies Inc., JTS Professional, Audio-Technica Corporation, Sennheiser electronic GmbH & Co. KG, AKG Acoustics, MIPRO Electronics, inMusic Brands, Inc. etc. are launching new products and entering into key partnerships in order to establish their foothold in the global market.

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Growing Demand for Wireless Technology to Bolster Market Growth

The introduction of digital wireless technology is augmenting the growth of the wireless microphone market. The implementation of wireless technology offers benefits such as low voice distortion, less noise interference, increased opportunity for encryption, and enhanced reliability of signal transmission.

The adoption of digital wireless technology and the introduction of professional microphones without noise distortions at affordable prices will drive the global wireless microphone market. The U.S, Japan, and China are the largest revenue generators in the wireless microphone market. Further, the economic development of the countries in Latin America and the Middle East and Africa, and the growth of the music industry in these regions will have a positive impact on the global wireless microphone market.

Given the improving economic conditions in certain regions and the introduction of innovative wireless technologies, leading players are focussing on expanding their businesses in emerging countries in APAC and Latin America. Vendors will try to distinguish their products and service offerings through a clear and unique value proposition during the forecast period.

Prominent players and emerging companies are investing in the development of innovative products with advanced features and are also focussing on product portfolio upgrades to gain a larger market share in the global wireless microphone market.

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Availability of Low Quality Products to Restrain Market Growth

The cost of wireless microphones varies across regions as there is a large presence of several local players in the different regional markets. Sometimes, users from developing countries such as India tend to choose wireless microphones with lesser pricing, as they are ready to compromise on the brand and applications of the microphones.

This can turn out to be a grave challenge for wireless microphone brands to maintain their sales especially in the Tier II and Tier III cities of developing countries.

Market Taxonomy

By Supporting Technology

Bluetooth
Wi-Fi
Others (NFC, RFID, etc.)

By Type

Handheld
Clip-on
Headworn
Lavalier
Bodypack
Others

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By End User

Events
Education
Corporate Sector
Media & Entertainment
Government
Aerospace & Defense
Others

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
China
Japan
Middle East and Africa

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Smart Home Devices Market is expected to register a CAGR of 18.7% during the forecast period 2021-2031

Global smart home devices sales is expected to grow at a healthy CAGR of over 18% during the study forecast period 2021-2031, despite a period of less growth in 2020, according to a latest study by ESOMAR-certified market research firm, Future Market Insights. The research study tracks smart devices sales in 20+ countries, offering a lucid analysis on how growth trend will unfold.

The smart home devices market is currently exhibiting growth at an impressive pace. Due to the increasing popularity of technological advancements, device and appliance manufacturers now have the focus on fostering smarter homes.

Advanced automated systems such as monitor lighting, temperature, multi-media, security shields, entertainment systems, window and door operations, and others, which can be operated by users through smartphones and computers are being launched. Focus on smart home technologies is expected to rise, paving way for the expansion of smart home devices market.

Future Market Insight’s latest edition of the study offers comprehensive insights into the market trends, value (US$ Bn) projections, recent developments, and dynamics. The report tracks the global value of smart home devices market in various high-growth countries across regions such as South Asia & Pacific, Middles East, and Latin America offering the most profitable opportunities to stakeholders. The report also analyzes the impact COVID-19 has had on the economy in general, and thermal printing in particular.

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Key Takeaways from the smart home devices Market Study

Driven by increasing demand for connected devices, the global smart home devices market is poised to reach US$ 42 Bn by 2021
As an early adopter, the U.S. will emerge as a key market, accounting for over 17% of global sales of smart home devices
Backed by high spending power of consumers, the U.K. market will exhibit an impressive y-o-y growth at a little above 17%
Germany and France will continue exhibiting high demand for smart home devices in Europe
Japan will remain a lucrative market in East Asia besides China

Green Building Initiatives Paving Way for Growth

Green building initiatives undertaken by several countries around the world have been creating lucrative growth opportunities.For instance, in India the government is providing certain incentives to IGBC which is a council in India implementing certain initiatives to build sustainable and eco-friendly buildings. These initiatives have played a major role in Kohinoor Hospital in Mumbai, which is a remarkable example of the green building initiative.

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Competitive Landscape

Some of the prominent players in global smart home devices market include Samsung electronics Co. Ltd, LG Electronics, Siemens AG, Samsung electronics Co. Ltd, Honeywell International Inc., Schneider Electric, Koninklijke Philips N. V, Amazon.com Inc., Robert Bosch GmbH, Apple Inc., Nest Labs, UNITED TECHNOLOGIES, Panasonic Corporation, Sony Corporation, and Midea Group.

The players have opportunities to generate sales and improve their position in the smart devices market by implementing latest ideas into their products. They also can widen their distribution methods by collaborating with the industries. There is incredible focus on staying up-to-date with the latest technologies. Therefore, product launches are a common strategy as market players seek to offer state-of-the art technologies to their consumers.

For instance,

Apple, one of the pioneers of smart home devices, has been working on combining TV Box and HomePod speakers to revive their smart home efforts.
In 2019, Google launched Google Assistant Connect with the intent of wooing smart home device manufacturers. This launch was intended to make it easier for companies to integrate Google Assistant technology into their products.
In 2020, Panasonic launched its IoT and artificial intelligence-enabled platform called Miraie in India, through which it plans to introduce a wide range of connected air conditioners, switches, and smart door bells in India.

Smart Home Devices Market by Category

Product Type

Security Lighting Control Smart Home Device
- Dimmers
- Switches
- Sensors
Access Control Smart Home Device
- Video Surveillance
- Access Control
- Fire and Smoke Detectors
HVAC Control Smart Home Device
- Smart Thermostats
- Heating and Cooling Coils
Entertainment and Other Control Smart Home Device
- Audio, Volume, & Multimedia Controls
- Home Theater System Controls
- Others
Kitchen & Home Appliances
- Smart Refrigerators
- Smart Vacuum Cleaners
- Smart Coffee Makers
- Others
Healthcare Smart Devices
- Fitness Tracker
- Blood Pressure Monitor System

Price Range

Below US$ 25 Smart Home Device
US$ 25-35 Smart Home Device
Above US$ 35 Smart Home Device

Sales Channel

Direct Sales
Mono Brands
Supermarkets/Hypermarkets
Department Stores
Specialty Stores
Online Retailers
Other Sales Channel

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GaN Power Devices Market is expected to display a CAGR of 24% during the forecast period-FMI

Gallium Nitride (GaN) is the material, which is used for the manufacturing of semiconductor power devices as well as light emitting diodes and RF components. GaN has demonstrated the capability to be the displacement technology for silicon semiconductors in power conversion, analog applications and RF. A report triggered by Future Market Insights (FMI) states that the global GaN power devices market compresses several expansions and in addition mid-level sellers, owing to number of lucrative open doors in the market. According to the report, the global GaN devices market is estimated to witness expansion at double-digit CAGR throughout the assessment period (2017-2027).

Japan to Remain Dominant in Global GaN Power Devices Market

The hardware industry in Japan is the prominent purchaser of the gadgets ventures across the globe. With a huge income share, demand for semiconductors is high and GaN power devices are being decreased, effective and with low capacitance, overtake nearly limiting vitality misfortunes amid charging and releasing. This factor is likely to increase demand for GaN products and in this manner market will gain momentum.

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GaN has wide application as a part in transistors and due to its enhanced properties, for instance, high warm conductivity, high voltage potential, substantial basic fields, these gadgets deliver high exchanging frequencies and better power thickness empowering transistors tofre work at high voltage levels. Such type of transistors have many uses in various in different fields and provide better outcomes, this is another driving factor influencing growth of the market. A best example for it is- a IT gear producing organization situated in Japan, Fujitsu Limited, in Jan 2016, built up a GaN high-portability transistor power developer with significant yield execution of the world for wideband remote broadcasts, that was 1.8X more noteworthy than some time recently, permitting over 30% more prominent range foe a fast remote system.

Increasing developing work activities in GaN substrate in charge of the development of the Japan GaN power devices market. Owing to GaN innovation highlights, for example, scaling down, high breakdown voltage, high exchanging recurrence, demand for GaN power devices has been propelling and continuous research has been finished by inquiries of focuses in Japan and incremental competences of GaN. Moreover, couple of years ago, a team of specialist from the institute of Industrial science at the Tokyo University discovered other innovation for manufacturing GaN LEDs on the crystal substrate. Costs for fabrication can be cut down along with actuating OLED light boards, with implementation of this improvement.

Restraints

However, shrinking path of the semiconductor is the key factor that is limiting the growth of the GaN power devices market. Problems associated with present assembly and interconnect technologies are growing with expanding high current density in GaN devices. The major problem consist of low impedance interconnects, higher thermal resistance and lower thermal capacitance per chip requiring more chip temperature and better thermal interconnects. The requirement for handling present densities per package and the similar heat flow generating by smaller footprints to be removed from the ambient atmosphere is also increasing. Such factors are anticipated to remain key challenge for growth of GaN market in Japan region.

Competitive Landscape

Several leading players operating in the market that are profiled in the report include Texas Instruments Incorporated, Qorvo, Inc., Infineon Technologies AG, Toshiba Corporation, Panasonic Corporation, and NXP Semiconductors N.V. The market is anticipated to witness section of acute number of GaN power gadget sellers in foreseeable period, increasing the opposition. Some other prominent players in the market, that have huge contribution in the growth of the market are POWDEC, GaN Systems Inc., Wolfspeed, Inc., EXAGAN,Transphorm Inc., AIXTRON SE, STMicroelectronics, IQE PLC, and Efficient Power Conversion Corporation.

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Market segmentation

By Technology

4H-SiC MOSFET
HEMT
Others

By Wafer Material

GaN SiC
GaN Si

By Wafer Size

Less than 150mm
150mm-500mm
More than 500 mm

By Industry

Consumer Electronics
Energy & Utilities
Automotive
IT & Telecom
Others

By Region

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

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Augmented Reality and Virtual Reality Market is likely to secure a CAGR of 40% through 2032

Future Market Insights has recently published a report on “Augmented Reality and Virtual Reality Market – Global Industry Analysis & Forecast, 2017-2025”. The global augmented reality and virtual reality market was valued at US$ 5,176 Mn in 2016 and is expected to register a CAGR of 42.2% between 2017 and 2025. Technology companies, especially, gaming companies are focusing on increasing investments and are driving the growth of the global Augmented Reality and Virtual Reality market.

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Global Augmented Reality and Virtual Reality Market: Overview, Analysis, & Forecast

The global augmented reality and virtual reality market is segmented by device type, technology, end user, application and component. The component segment has been further categorized into hardware, software and services. The hardware segment has been categorized into these sub-segments: display, processor, sensors, user interface ICs, power management ICs and others. The Sensors sub-segment is anticipated to register a CAGR of 50% during the forecast period.

On the basis of technology, the global augmented reality and virtual reality market has been segmented into augmented reality and virtual reality. The virtual reality segment registered highest market share and was valued at US$ 3,498 Mn in 2016 globally. Further, the adoption rate of AR & VR in gaming is increasing rapidly and is responsible for the growth of the segment in the overall market. However, the virtual reality segment is expected to register a stable CAGR of 40.5% during the forecast period.

On the basis of devices, the global augmented reality and virtual reality segmented into head mounted display, handheld devices, head-up display, smartglasses and others. The head mounted display segment accounted for a CAGR of 44% during the forecast period. Head mounted display segment also accounted for highest market share in 2016 and was valued at US$ 4,156 Mn in 2016 in the overall devices segment.

On the basis of end-user, the global augmented reality and virtual reality market is segmented into consumer and commercial. The commercial segment accounted for a CAGR of 46% during the forecast period. In 2016, the consumer segment accounted for the highest market share and represented a valuation of US$ 3,099 Mn.

On the basis of application, the global augmented reality and virtual reality market is segmented into gaming, media & entertainment, real estate, retail, education, engineering, healthcare and others. The gaming segment accounted for a CAGR of 45% during the forecast period. Gaming segment held the largest market share in 2016 and was valued at US$ 1,997 Mn in 2016.

The report also covers trends driving each segment and offers analysis and insights regarding the potential of Augmented Reality and Virtual Reality market in regions including North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, North America accounted for the largest market share in 2016 owing to the increasing adoption of AR & VR in gaming in countries, such as the U.S. and Canada. Countries, such as GCC, China and Japan, in Asia Pacific region offer greater potential, which will drive the growth of the global augmented reality and virtual reality market in the region. MEA and Asia pacific region is expected to register healthy CAGR during the forecast period.

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Key competitors in the Augmented Reality and Virtual Reality market are

Vuzix Corporation,
Samsung Electronics Co. Ltd,
Microsoft Corporation,
Google Inc.,
EON Reality Inc.,
Oculus VR

Key Segments Covered in the Augmented Reality and Virtual Reality Market are :

By Technology Type

Augmented Reality
Virtual Reality

By End-user Type

Commercial
Consumer

By application

Gaming
Media & Entertainment
Real Estate
Education
Retail

By Device

Head Mounted Display
Handheld Devices
Head-up display
Smartglasses
Others

By Component

Hardware
Software
Services

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Transportation Predictive Analytics And Simulation Market is predicted to be worth US$ 3,916.6 million by 2027

In real time, connected cars can produce data about traffic flow, engine performance, etc., according to a report by Future Market Insights. Predictive analytics and simulation for transportation can be used to extract this data, improving analysis of transportation authority.

Predictive analytics and simulation for transportation were valued at US$ 1,550.0 million in 2016; by the end of 2027, this market is anticipated to be worth US$ 3,916.6 million. The market will have strong growth throughout this projected period with a CAGR of 8.9%.

Predictive analytics & simulation software are projected to be in high demand in the future as the global transportation & logistic industry witnesses convergence through the adoption of data-centric solutions. Predictive analytics and simulation software use the collected data to identify patterns and depict potential outcomes & trends related to transportation in an effort to increase the effectiveness of transportation operations.

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According to a survey by Future Market Insights, a major driver of the use of transportation predictive analytics & simulation solutions would be the growing number of connected vehicles. A number of automakers have changed their automotive products to include technologies like sensors and sophisticated tracking systems with engine diagnostics as vehicle connectivity has increased.

Increasing vehicular traffics witnessed across the globe, and the earnest need for saving costs through cost-effective data solutions, and thereby rendering operational efficiency in logistics sector are also observed as key drivers for growth of global transportation predictive analytics & simulation market. In the report, titled “Transportation Predictive Analytics & Simulation Market:

Global Industry Analysis and Opportunity Assessment, 2017-2027,” North America is projected to remain the largest market for transportation predictive analytics and simulation solutions North America’s transportation predictive analytics and simulation market will account for 35% of the market revenues by 2027-end. The region will also register fastest revenue growth at 10.5%, while Japan and the Asia-Pacific excluding Japan region will reflect growth at more than 9% CAGRs.

The report emphasizes on how predictive analytics can help companies to maximise revenue and minimise transportation costs by predicting customer demand while dealing with any capacity limitations. They can help airline companies devise a business strategy such as adjusting flight schedules or flight fares during different demand periods, and help maximise revenues as well as increase customer satisfaction.

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In 2016, more than US$ 230 Mn worth of transportation predictive analytics and simulation solutions were deployed in airline transport sectors across the globe. Nevertheless, in the long run, roadways will remain the most crucial component of transport for adoption of predictive analytics and simulation solutions; global revenues from which will soar at 9.8% CAGR through 2027.

Taking into account the rising use of microscopic transportation simulation platforms for infrastructure planning, more than one-third of global transportation predictive analytics and simulation revenues will be accounted by microscopic simulation throughout the forecast period.

Demand for macroscopic simulation, however, is projected to witness marginal decline in terms of its global revenue share. The report also predicts that on-premise deployment models will lose traction, but will still dominate the market revenues. Meanwhile, cloud-based deployment of transportation predictive analytics and simulation in the forecast period will bring in over US$ 1,400 Mn in global revenues.

More than 90% of the global transportation predictive analytics and simulation market will remain dominated by software over services. And, the report has profiled leading developers of transportation predictive analytics and simulation software & solutions, which include, IBM Corporation, Xerox Corporation, SAP AG, PTV Group, Cubic Corporation, Space-Time Insight, Tiger Analytics Inc., T-Systems International GmbH, Predikto Inc., and Cyient-Insights.

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Market segmentation

By Region

North America
Latin America
APEJ
Japan
Western Europe
Eastern Europe
MEA

By Component

Software
Services

By Deployment Model

On-Premise
Cloud-based

By Simulation Method

Microscopic
Macroscopic
Mesoscopic

By Component of Transport

Roadways
Railways
Airways
Seaways

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IP Multimedia Subsystem (IMS) Market is expected to grow to nearly US$ 50.4 billion by 2026

Future Market Insights (FMI) recently published a report on the global market for IP multimedia subsystems, findings from which assert that the market will surge at an impressive pace over the forecast period (2016-2026). Demand for IP multimedia subsystem is anticipated to grow at a pronounced rate and bring in US$ 50,347.4 Mn in revenues by 2026-end, reflecting a CAGR of 15% during the forecast period. The increasing use of shared service infrastructure is cited as a key factor propelling the growth of the global IP multimedia subsystem market. In addition, interworking with the Internet and support for quality of service is also likely to drive the demand for IP multimedia subsystems in the near future.

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As per the FMI report, the global market for IP multimedia subsystem is expected to represent an incremental opportunity of US$ 37,927.6 Mn between 2016 and 2026. The market is anticipated to witness overwhelming growth owing to the increasing usage of services such as instant messaging, multimedia, and conferencing. Moreover, enterprises are now using IP multimedia subsystem to communicate with other business clients in real-time. IP multimedia subsystems enable service expansion, especially in multimedia communication and integrated voice services.

This helps in collaboration of multiple media, multiple points of access and multiple modes of communication into a single network, which is why a large number of network operators are adopting IMS services. Mitel Networks Corporation, Cirpack SAS, Italtel S.p.A, Cisco Systems, Inc., Huawei Technologies Co. Ltd., Du, IBM Corporation, ZTE Corporation, Etisalat, Ericsson Inc., Nokia Corporation, MTN Irancell Telecommunication Services Company are recognised as top companies providing IP multimedia subsystem solutions.

Key Highlights of the Report include:

In 2016, revenues from the sale of mobile/wireless mode IP multimedia subsystem stood at US$ 8,687.9 Mn and is expected to reach US$ 40,931.3 Mn towards the end of the forecast period representing a CAGR of 20.8%. Consumers and enterprises are increasingly adopting IP multimedia subsystem solutions due to increasing usage of wireless phones, laptops and other wireless devices.
Application of IP multimedia subsystem in Internet and web service is expected to garner US$ 14,579.8 Mn in revenues by the end of the assessment period, reflecting a CAGR of 17.2% over 2026. This is attributed to the robust use of internet and web-based services for managing online business applications, VoIP applications, VoLTE applications and others Internet-based communication. Meanwhile, use of IP multimedia subsystem in VoIP is also increasing owing to the growing popularity of video and voice-based communication.
By the end of 2026, US$ 28,283.7 Mn worth IP multimedia subsystems are expected to be sold globally to end-user consumers. Consumers are rapidly adopting IP multimedia subsystem services owing increasing adoption of social media platforms for social and personal communication.

Among regions, the market for IP multimedia subsystems in North America is expected to remain dominant throughout the forecast period. In 2016, the region’s market reached a valuation of US$ 3,318.2 Mn, with 26.7% revenue share. APEJ is also expected to witness a robust growth of its IP multimedia subsystems market, increasing at an attractive CAGR of 18.5 % during the forecast period.

Increasing usage of multimedia applications is a growing trend in the global IP multimedia subsystem marketIP multimedia subsystem services are enabling devices such as smartphones and laptops to access services through various networks such as cellular, broadband, Wi-Fi and others. In addition, along with the rising use of smartphones, individuals are using multimedia applications in order to improve their communications.

IP multimedia subsystem services allow users to use services such as multimedia conferencing, instant messaging, push-to-talk and other services along with maintaining the quality of services without increasing costs. Going with this current trend, many operators have started offering multimedia capabilities through IP multimedia subsystem services such as video, messaging, audio, push service and others to improve their offerings.

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Market TaxonomyBy Mode of Communication

Mobile/Wireless
Cable/Wireline

By End User

Consumer
Enterprise

By Application

Internet & Web Service
VoIP
SMS
Video Conferencing
Video on Demand
Others

By Region

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

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Mobile Application Market is expected to rise at a CAGR of 9.6% to US$ 96,128.2 Million in 2026

The history of mobile applications comprises key milestones such as the origin & prediction of the “mobile application” concept, the home screen era, services for mobile applications, and the information application approach. The inclination of urban population toward smartphones and mobile apps is greater than the rural population. Moreover, the urban population is increasing rapidly which in turn is driving the global mobile applications market. The introduction to 4G and the rise in demand for 4G devices. Moreover, internet penetration is growing in rural areas at a faster rate. This has necessitated an increase in the production of smartphones with cost reduction which is adding to the growth of the global mobile applications market.

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Growing mobile ad industry, expanding e-Commerce, soaring smartphone market and growing adoption of Long Term Evolution (LTE) devices are some of the factors fuelling the growth of mobile applications market across the globe. The LTE devices, in particular, are anticipated to witness stellar growth in adoption owing to increasing demand for high speed data connectivity and growing mobile data traffic.

According to a study by Future Market Insights (FMI) titled, “Mobile Application Market: Global Industry Analysis and Opportunity Assessment, 2016 to 2026”, the global market for mobile applications in 2016 was valued at US $38,589.1Mn and is projected to register an impressive 9.6% CAGR during the forecast period, 2016 to 2026, to obtain a market value of US $96,128.2 million by 2026 end. The report enlists leading market players of mobile applications such as Google Inc., Microsoft and Apple Inc., among which Google Inc. stood dominant and held the highest share in the global mobile applications market in 2016. Other prominent companies include Cognizant, CA, SAP SE, HP, Samsung Electronics Co, Ltd., China Mobile Ltd., Opera Software and Others.

According to FMI’s report, the Google Play is estimated to register highest CAGR during the forecast period whereas the Apple App Store is expected to garner revenues worth more than US $45,000 million by 2026 end, based on store type. More than 44% revenue share of the global mobile applications market is expected to be accounted by games segment, based on end-use. However, travel industry is expected to witness fastest growth at 11% CAGR over the forecast period.

APEJ is estimated to exhibit the fastest CAGR in the overall market accounting for more than US $41,800 million during the forecast period, followed by Eastern Europe and Latin America. However, North America and Western Europe are also expected to remain lucrative in terms of revenue share until the end of 2026. North America and Western Europe are poised to generate revenue worth US $14,979.4 Mn and US $15,597 Mn respectively by the end of 2026 in the global mobile application market.

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Mobile Application Market – Google Play trumps the Apple App Store in APEJ

The Apple App Store is dominant in affluent regions of the world such as North America and Western Europe. However, it is nowhere near the Google Play Store in the APEJ region. Revenue from the Apple App Store in the APEJ mobile application market was close to $5 Billion in 2016, while Google Play recorded a revenue of around $8 Billion in the same year. By the year 2026, this chasm should become even more markedly pronounced with a revenue difference of nearly $10 Billion in favour of Google Play. The CAGR of the Google Play segment for the forecast period is predicted to be 12.4%.

Global Mobile Application Market: Segmentation

By Store Type

Apple App Store
Google Play
Others

By End Use

Games
Media & Entertainment
Healthcare
Education
Travel
Shopping
Others

By Region

North America
Latin America
Western Europe
Eastern Europe
APEJ excl. Japan
Japan
MEA

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Event Management Software Market is anticipated to reach a high of US$ 28.98 billion by the year 2032

A recent market study published by Future Market Insights on the event management software market includes a global End-user analysis for 2016-2020 and prospect examination for 2022-2032 and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current development parameters, the development prospects of the market are obtained with maximum precision.

Future Market Insights (FMI) has stated that the global event management software market is expected to rise steadily at a CAGR of 14.1% during the forecast period of 2022 to 2032. Event data is indispensable for event organizers since it helps them monitor social media engagement and attendance to measure the overall success of any event.

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COVID-19 Paved Way for Growth

The health concerns are increasing around the world and causing significant business impact due to the ongoing COVID-19 pandemic – particularly when it comes to delivering events. Since the onset of the epidemic, most events were either cancelled or postponed. Major conferences such as Mobile World Congress and the HIMSS Global Healthcare Conference & Exhibition are even getting cancelled due to the pandemic situation.

Key Takeaways of Event Management Software Market Study

The cloud based deployment to grow 4.0x of the current market value by the end of 2031
Increasing penetration of IoT and real-time analytics will drive growth in U.S., enabling it to account for a little below 65% of North America market in 2021
Double-digit y-o-y growth at over 10% will seal U.K.’s position as a lucrative market within Europe
Increasing number of events organized in Germany and France, will drive Europe event management software market
Within East Asia, Japan and South Korea are expected to emerge as strong markets, exhibiting double-digit growth

Rising Demand for Mobile Event Management Applications

The usage of applications is increasing at a tremendous rate with each day passing, and various apps are being considered crucial for most businesses. The event apps are making things quicker, easier and more interactive to the event industry. The increase in the engagement of interactive mobile event applications has been emerging as one of the biggest event trends. Thus users are demanding more event applications offering better quality and services.

Competitive Landscape

Companies are partnering with key technology players to expand their product portfolio. They are focusing on entering into partnership with other businesses that offer complementary products, services, and technologies, which strengthen its market coverage and enhance its technological capabilities. This strategy has enabled the company to quickly grow into a global provider that offers end-to-end capabilities and leverages its best-in-class solutions, with an aim to deliver high-quality services.

Cvent Inc.
InEvent, Inc.
Ungerboeck
Eventzilla
Certain, Inc.
Eventbrite
Arlo

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Event Management Market by Category

Solution

Software
- Integrated Event Management Software
- Standalone Software
  - Venue Management Software
  - Event Marketing Software
  - Event Booking & Registration Software
  - Others
Services
- Managed Services
- Professional Services
  - Event Planning & Consulting
  - Integration and Implementation

Support & Maintenance

Deployment

Cloud
On-premise

Enterprise Size

Small & Medium Enterprises (SMEs)
Large Enterprises

End User

Event Management Companies
Travel & Hospitality Companies
Corporates
Government
Academic Institution
Others

Region

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

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Simulation and Test Data Management Market projected to gain from the growing need for reliable-FMI

The report predicts the global simulation and test data management to expand from US$ 525.5 Mn in 2021 to US$ 2.06 Bn by 2031. In the past few years, the simulation and test data management market has gained immensely due to improvements in cloud deployment model and technology.

The demand for test data simulation software, which can manage and analyze data generated from simulation, is expected to rise in the coming years. The simulation and test data management market is projected to gain from the growing need for reliable and cost-effective simulation services, reduced time-to-market by simulation and data management software, and improved quality of services.

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for simulation and test data management market. The report tracks the global sales of simulation and test data management providers in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the automotive industry in general, and simulation and test data management software and services in particular.

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Key Takeaways of Simulation and Test Data Management Market Study

Simulation and test data management market will exhibit an impressive 14.7% CAGR between 2021 and 2031
The market in the U.S. is projected to account for nearly 85% of sales in North America
Germany will emerge as a highly lucrative market within Europe and is projected to exhibit double-digit growth through forecast period
Rising demand from various industries will enable the U.K. to exhibit above 9% CAGR in 2021
While China will continue dominating East Asia market for simulation and test data management, Japan is forecast to grow at a higher pace

“Key players are focusing more on continuous developments and implementation of novel solutions such as cloud deployment model and integration of advanced data analytics solution for improving data provisioning and data monitoring applications. This is creating attractive opportunities for the growth of the simulation and test data management market”. Says the Future Market Insights analyst.

Impact of COVID-19 on Simulation and Test Data Management Market

The COVID-19 pandemic outbreak has disrupted many industries, including some of the leading end users in simulation and test data management space. However, during the period of COVID-19, simulation has been proven to be important for healthcare worker learning and systems integration in the context of integrating and testing new processes, workflows, and rapid changes to practice and changes to the delivery of clinical care.

A new COVID-19 impact data simulation modeling solution has been designed to provide real-time predictive COVID-19 modeling and simulation solutions for customers to cost-effectively protect, manage, and enhance organizational workforce’s productivity, along with having critical network infrastructure optimization and supply chains efficiencies.

Simulation and test data management market is estimated to grow by 1.2X from 2019-2020 and would see a surge in demand amid the COVID-19 outbreak, as real-time predictive COVID-19 modelling and simulation tool for customers becomes the new norm. This new real-time impact simulation and test data management solution will allow users to make better decisions during the disruptions caused by COVID-19. This powerful new platform simplifies and accelerates secure access to large, fragmented, and geographically distributed data sets to support the most demanding Machine Learning (ML), Artificial Intelligence (AI), and integration with Big Data services.

Increasing Demand for Analysis and Management of Data Simulation

The amount of data being generated by simulation and testing processes is growing rapidly and calls for an improved data management system. As this data is crucial for the product development process, it is highly dependent on the 3Vs: volume, velocity, and variety. Data needs to be saved and extracted quickly in an efficient manner, which is a challenge for design engineers.

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Managing this increasing volume of data with greater velocity can pose challenge to design engineers, which is leading to an increase in the adoption of simulation and test data management software. Moreover, understanding the variety of data, i.e., structured and unstructured data, is crucial for implementing better decisions while designing products.

These factors are expected to drive the growth of the global simulation and test data management market to a significant extent over the forecast period.

More Valuable Insights on Simulation and Test Data Management Market

Solution

Testing Systems
- Structural Durability Testing Systems
- Fatigue Testing Systems
- Data Acquisition Systems
- Others
Test Data Simulation Software
- Data Acquisition (DAQ) Software
- Integrated Simulation Software
- API Security Testing Tools
- Test Specimen Protect Software
- Others
Services
- Design & Engineering Services
- Consulting Services
- Training & Learning Services
- Support Services