Predictive Dialer Software Market is driven by Increasing Penetration of The Internet

Predictive Dialer Software Industry Overview

The global predictive dialer software market size is expected to reach USD 12.19 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 37.0% from 2021 to 2028. Predictive dialer software uses statistical algorithms to predict the availability of contact center agents and estimates the normal time for phone calls to be answered. The dialing rate is then adjusted accordingly considering these two factors.

Businesses are widely adopting predictive dialer systems to reach out to a large number of customers automatically. Furthermore, predictive dialer dials from a list of phone numbers and can detect disconnected phone numbers, voicemail messages, busy signals, and unanswered numbers. Such a system potentially allows companies to keep their customers updated about a service issue or emergency.

Predictive Dialer Software Market Segmentation

Grand View Research has segmented the global predictive dialer software market on the basis of component, deployment, enterprise size, end use, and region:

Based on the Component Insights, the market is segmented into Software and Services.

• The software segment dominated the market in 2020 and accounted for a revenue share of more than 68.0%.
• The services segment is anticipated to witness the fastest growth over the forecast period.
• The services segment has been further segmented into integration and deployment, support and maintenance, training and consulting, and managed services.

Based on the Deployment Insights, the market is segmented into Cloud and On-premise.

• The on-premise segment dominated the market in 2020 and accounted for a revenue share of more than 55.0%.
• The cloud segment is expected to witness the fastest growth over the forecast period. The growth can be attributed to the growing adoption of cloud-based software by businesses to eliminate the hassles and expenses associated with managing an on-premise system. 

Based on the Enterprise Size Insights, the market is segmented into Large Enterprises, and Small & Medium Enterprises.

• The large enterprises' segment dominated the market in 2020 and accounted for a revenue share of more than 54.0%.
• The adoption of predictive dialer software for cold-calling and inside sales and customer support activities is growing continuously.
• The software can benefit large enterprises as it is typically designed to handle a large number of customers’ calls in a very short period of time.
• The small and medium enterprises segment is anticipated to witness the fastest growth over the forecast period.

Based on the End-use Insights, the market is segmented into BFSI, Government, Healthcare, IT & Telecom, and Others.

• The IT and telecom segment dominated the market in 2020 and accounted for a revenue share of more than 27.0%.
• The government segment is anticipated to register the fastest CAGR over the forecast period. The growth can be attributed to the growing need for rolling out efficient public services. Government agencies are widely adopting predictive dialer systems to provide quality services to the public.

Predictive Dialer Software Regional Outlook

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

Key Companies Profile & Market Share Insights

The market is highly fragmented in nature. Prominent market players are adopting various strategies, such as strategic joint ventures, partnerships, product innovation, research & development initiatives, geographical expansion, and mergers & acquisitions to cement their foothold in the market. Businesses are focusing on providing both cloud-based and on-premise software solutions to large enterprises. These solutions are designed to help enterprises efficiently manage the high-volume and high-touch automated multichannel campaigns.

Some prominent players in the global predictive dialer software market include:

• Agile CRM
• ChaseData Corporation
• Convoso
• Five9, Inc.
• NICE inContact
• PhoneBurner
• RingCentral, Inc.
• Star2Billing S.L.
• VanillaSoft
• Ytel Inc.

Order a free sample PDF of the Predictive Dialer Software Market Intelligence Study, published by Grand View Research.

How has the COVID-19 Pandemic Affected the Indian Online Grocery Market?

India Online Grocery Industry Overview

The India online grocery market size is projected to reach USD 38.9 billion by 2028, according to a study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 37.1% from 2021 to 2028. The online grocery market in India has been thriving with consumers favoring the convenience of online shopping over neighborhood grocery retailers. Amid the COVID-19 pandemic, people have been careful to step out from the safety of their homes. 

A rising number of individuals are shifting toward online grocery shopping for meeting their needs during the time of social distancing. The online grocery market in India, while still in its nascent stage, witnessed remarkable growth during the pandemic period and is set to pick up significantly as social distancing becomes the new normal and as traditional grocery retailing loses appeal across hitherto experience. Additionally, growing smartphone usage, coupled with the proliferation of the internet, is a key factor expected to boost market growth over the forecast period. 

India Online Grocery Market Segmentation

Grand View Research has segmented the India online grocery market on the basis of product type, payment method, and region:

Based on the Product Type Insights, the market is segmented into Fresh Produce, Breakfast & Dairy, Snacks & Beverages, Meat & Seafood, Staples & Cooking Essentials, and Others.

• The staples and cooking essentials segment dominated the market with a share of 33.9% in 2020. This significant share is attributed to the constant shopping of staples that include flours, food grains, and cooking essentials like refined oil that are basic requirements of many.
• The breakfast and dairy segment is expected to expand at a growth rate of 37.6% over the forecast period. This is attributed to the growing demand for dairy products, such as yogurt, milk, and curd. These products are a daily necessity for people and have a short lifespan as compared to other products. 

Based on the Payment Method Insights, the market is segmented into Online, and Offline (Cash on Delivery).

• The online segment dominated the market with a share of 63.8% in 2020 and is expected to expand at the highest CAGR during the forecast period. The growth of this segment is attributed to the growing preference for online payments. 
• Cash still accounts for a substantial share in India’s online grocery payment market. This is mainly due to the enduring popularity of cash-on-delivery methods, which allow e-commerce merchants to reach rural and unbanked customers and decrease the issues of payment losses owing to non-payment.

Key Companies Profile & Market Share Insights

The market is fragmented and characterized by extreme competition amongst the players. Key players are focusing on growing their market presence by implementing various strategies, such as partnerships, mergers & acquisitions, and geographical expansion. These strategies help the market players expand their businesses geographically and enhance their offerings across the national and international markets. 

Some prominent players in the Indian online grocery market include:

• Amazon India Pvt. Ltd.           
• Godrej Nature's Basket Ltd.  
• Grofers India Pvt. Ltd.
• Paytm E-Commerce Pvt. Ltd. (Paytm Mall)
• Reliance Retail Ltd. (Reliance Fresh)          
• Spencer's Retail
• Supermarket Grocery Supplies Pvt. Ltd. (BigBasket)       
• UrDoorstep eRetail Pvt. Ltd. 

Order a free sample PDF of the India Online Grocery Market Intelligence Study, published by Grand View Research.

Online Video Platform Market Key Players are Comcast Cable Communications Management and Endavo Media

Online Video Platform Industry Overview

The global online video platform market size is expected to reach USD 22.85 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 18.4% from 2021 to 2028. The increasing adoption of video content for advertisement and branding activities over traditional marketing campaigns across sectors/industries, such as e-commerce, healthcare, manufacturing, and real estate, is driving the market. For instance, sellers on e-commerce sites such as Amazon and Zappos.com use product videos on their portals to provide customers a 360-degree view of products and help them choose the best match. The increased expenditure on online video advertisements is acting as a major factor driving the growth of the market. For instance, in 2019, SAMSUNG Electronics spent around USD 2.41 billion majorly on an online video campaign to promote its Galaxy series smartphones in the U.S. 

The rising participation of the global population in online video streaming activities has been recognized as a significant factor driving the global market growth. Live video streaming is gradually becoming an essential advertisement model for various brands. One of the biggest gainers of this business model is live sports streaming channels. The rising number of sporting events globally and a continuously increasing number of subscribers make online video platforms a lucrative investment opportunity for the media and entertainment industry. Furthermore, the advent of the 5G telecom network is enabling viewers to stream HD video content seamlessly. In addition, The e-learning business has become one of the leading beneficiaries of the live streaming video platform due to the increasing adoption of e-learning in corporate and academic setups coupled with the increased number of mobile learning applications containing analytics that helps track the progress of students.

Online Video Platform Market Segmentation

For this report, Grand View Research has segmented the global online video platform market based on component, type, streaming type, end-user, and region:

Based on the Component Insights, the market is segmented into Solution and Services.

• The solution segment accounted for the largest revenue share of 53.8% in 2020. This is attributed to the surging demand for subscription-based video content over the OTT platform, coupled with a continuous rise in demand for live streaming video platforms.
• In addition, the availability of low- and free-of-cost video hosting platforms and monetization features, such as running ads between videos, are anticipated to fuel the growth of the solution segment over the forecast period. The segment is expected to register a 15.7% CAGR over the forecast period.
• The service segment is expected to demonstrate significant growth over the forecast period. This can be attributed to the increasing demand for professional and managed services for video streaming platforms.
• With the rise of cloud-based video content, data security threats are also increasing. To counter these threats, enterprise-managed services provide cloud security solutions that enable users to protect their websites, applications, and cloud data centers against a multitude of cyber attacks.  

Based on the Streaming Type Insights, the market is segmented into Live Streaming and Video on Demand.

• The video-on-demand segment accounted for the largest revenue share of over 76.9% of the total market revenue in 2020. The growth can be attributed to the easy accessibility of videos over the cloud, which gives freedom to stream videos in real-time from any location. 
• Live video streaming is becoming increasingly popular as a growing number of sports streaming events with customized chat room features are attracting more subscribers.

Based on the Type Insights, the market is segmented into Video Processing, Video Management, Video Distribution, Video Analytics, and Others.

• The video processing segment accounted for the largest revenue share of 38.6% in 2020.
• In 2020, the video management segment accounted for the second-largest share in the online video platform market in terms of revenue.
• The video analytics segment is expected to register the highest CAGR during the forecast year. The growth of video analytics platforms can be attributed to the continuous advancements in video reporting structures such as video consumption patterns, geographical reach, campaign engagement, and a comprehensive view of ROI.

Based on the End-user Insights, the market is segmented into Media & Entertainment, BFSI, Retail, Education, IT and Telecom, and Others.

• The media and entertainment segment held the highest market share of over 37.8%. The segment is expected to retain its dominance over the forecast period.
• The segment has recorded significant growth due to a surge in internet connectivity on mobile phones and increased investments across the globe in improving the OTT infrastructure.
• Education emerged as the second-largest end-user segment in terms of revenue in 2020.
• The segment is also expected to register the highest CAGR over the forecast period. With the introduction of advanced learning analytics dashboards over e-learning platforms, keeping track of learning progress and live interaction has become much easier.

Online Video Platform Regional Outlook

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

Key Companies Profile & Market Share Insights

Vendors are focusing on initiatives such as collaborations, acquisitions and mergers, and partnerships.

Some of the prominent players operating in the global online platform market are:

• Akamai Technologies
• Brightcove Inc.
• Comcast Cable Communications Management, LLC
• Endavo Media.
• io, Inc.
• Kaltura, Inc.
• Limelight Networks
• Longtail Ad Solutions, Inc. (JW PLAYER)
• MediaMelon Inc.
• Ooyala Inc. (Telstra)
• Panopto
• SpotX, Inc.
• Wistia Inc. Inc.

Order a free sample PDF of the Online Video Platform Market Intelligence Study, published by Grand View Research.

Podcasting Market to grow Significantly at a CAGR of 31.1% by 2028

Podcasting Industry Overview

The global podcasting market size is estimated to reach USD 94.88 billion by 2028, expanding at an estimated CAGR of 31.1% from 2021 to 2028, according to a new report by Grand View Research, Inc. Podcasting is an episodic series of digital media, often audio, that can be listened to or watched over the internet or downloaded on a device. The increasing popularity of audio-on-demand platforms is the primary factor driving the market growth. Other factors contributing to the market growth include minimal entry barriers for creators and easy accessibility for users, as they can listen to podcasts while performing tasks such as cleaning, walking, gardening, traveling, or exercising. 

The recent evolution of podcasting content, wherein various creators are discussing undebated global scenarios, is bringing about numerous growth opportunities for the market growth. The subscriber base of podcasts pertaining to racism, patriarchy, and political disputes, among others, is significantly growing, thereby encouraging companies and creators to come up with more content that taps diverse audiences. Meanwhile, challenges such as limited mobile phone storage and low internet connectivity are likely to hinder the market growth over the forecast period. However, the distinct format of podcasting has garnered attention over the past five years. Various advancements in smartphones, Bluetooth speakers, tablets, and laptops have augmented the growth of the podcasting industry.

Podcasting Market Segmentation

Grand View Research has segmented the global podcasting market based on genre, format, and region:

Based on the Genre Insights, the market is segmented into News & Politics, Society & Culture, Comedy, Sports, and Others.

• The news and politics segment accounted for the largest revenue share of around 30.0% in 2020. This can be attributed to the high number of users listening to this genre on a day-to-day basis.
• The news and politics genre is popular in all types of formats, such as solo news bulletins, panel debates, and one-on-one conversations.
• The sports segment is expected to witness the highest CAGR over the forecast period owing to the wide presence of avid sports fans globally.
• Leading market players are acquiring sports and entertainment content companies to enhance their sports content.

Based on the Format Insights, the market is segmented into Interviews, Panels, Solo, Repurposed Content, and Conversational.

• The interview format accounted for a revenue share of around 30.0% in 2020 and is expected to dominate the podcasting market over the forecast period. This can be attributed to the uniqueness and originality of interview podcasts.
• The solo format is projected to expand at the highest CAGR of around 30.0% over the forecast period. In this format, the content is recorded by an individual who has expertise or knowledge in a particular field.
• Solo podcasts help in building a direct connection with the audience. Since the industry is booming, independent creators are foraying into the solo podcast format due to advantages such as ease of use and minimal investment, which mainly include a microphone and basic editing tools. 

Podcasting Regional Outlook

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

Key Companies Profile & Market Share Insights

The market is characterized by several players, including audiovisual groups creating innovative content and independent publishers producing native podcasts. The participants analyzed in this report are implied as the digital audio platforms offering content to the audiences. Prominent media players are collaborating with creators and independent publishers to offer original and raw content to capture a more significant audience share. Furthermore, the increasing need to cater to worldwide audiences with varied linguistic backgrounds has created a demand for content in different languages.

Some of the key players operating in the global podcasting market are:

• Amazon, Inc.
• Apple, Inc.
• iHeartMedia Inc.
• Megaphone LLC
• Pandora Media, LLC
• Audacy, Inc.
• Soundcloud Limited
• Spotify AB
• Stitcher
• TuneIn, Inc.

Order a free sample PDF of the Podcasting Market Intelligence Study, published by Grand View Research.

Who are the Key Players in The Data Center Colocation Market?

Data Center Colocation Industry Overview

The global data center colocation market size is expected to reach USD 117.82 billion by 2028, recording a CAGR of 13.3% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. Several businesses and cloud service providers are shifting toward colocation or multi-tenant data centers, which is a key factor contributing to the market growth. Colocation is the preferred choice among numerous enterprises as it offers increased cost benefits compared to building and maintaining their own data center facility. Colocation data centers also offer operational flexibility while scaling up infrastructure to accommodate larger data volumes. With the rising costs of land, property, and IT infrastructure, these data centers are a viable option for SMEs due to limited IT spending. 

The proliferation of online shopping worldwide is anticipated to upkeep the market growth over the next seven years. An increase in the number of online shoppers translates to the generation of increased data volumes in the retail sector. This has led to increased investments in the IT infrastructure sector, especially in data centers. Several retailers are opting for colocation centers to save IT costs, which is further expected to drive market growth.

Data Center Colocation Market Segmentation

Grand View Research has segmented the global data center colocation market on the basis of colocation type, enterprise size, end-use, and region:

Based on the Type Insights, the market is segmented into Retail and Wholesale.

• The retail type segment dominated the market with a share of over 72% in 2020 and is estimated to retain the leading position throughout the forecast period.
• The wholesale type segment is expected to register the highest growth rate over the forecast period owing to several major cloud service providers and hyperscalers moving toward wholesale colocation.

Based on the Size Insights, the market is segmented into SMEs and Large Enterprises.

• The large enterprises segment dominated the market in 2020 with a share of over 62%. This high share is attributable to the high product demand among large organizations to manage and maintain data efficiently.
• The SMEs segment is estimated to record the fastest CAGR over the forecast period due to the increasing number of SMEs and startups in developing countries, such as India and China.

Based on the End-use Insights, the market is segmented into Retail, BFSI, IT & Telecom, Healthcare, Media & Entertainment, and Others.

• The IT & telecom segment led the global market with a revenue share of more than 27% in 2020. The high share of this segment is attributed to the increased number of mobile internet users and the continued development of new applications and software in the industry. 
• According to the GSM Association (GSMA), in 2019, about 3.8 people connected to the mobile internet, an increase of 250 million users from 2018.This number is bound to rise due to the increasing adoption of smartphones with advanced features.
• Meanwhile, the emergence of 5G is further expected to boost the IT & telecom sector growth, thereby creating large data volumes and driving the market growth.
• The healthcare segment is expected to register the highest CAGR over the forecast period owing to the increasing technological advancements in the hospital industry.
• In addition, certain government regulations, such as the American Recovery and Reinvestment Act in 2014, have made it essential for public and private healthcare service providers in the U.S. to maintain Electronic Health Records (EHRs) of patients. This has led to the need for data storage solutions among healthcare service providers.
• The growing volumes of patient data across the globe are anticipated to increase product adoption in the healthcare sector. Moreover, the global pandemic is expected to increase the need for data storage in the healthcare sector for research purposes.

Data Center Colocation Regional Outlook

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

Key Companies Profile & Market Share Insights

The market is fragmented and characterized by a high degree of competition. Major companies are focusing on enhancing their market share by adopting inorganic growth strategies, such as partnerships, acquisitions & mergers, and collaboration. Companies are also focusing on the geographical expansion of their business.

Some of the key companies operating in the data center colocation market are:

• China Telecom Corp. Ltd.
• CoreSite Realty Corp.
• CyrusOne, Inc.
• Cyxtera Technologies, Inc.
• Digital Realty Trust, Inc.
• Equinix, Inc.
• Global Switch
• NaviSite
• NTT Communications Corp.
• Telehouse

Order a free sample PDF of the Data Center Colocation Market Intelligence Study, published by Grand View Research.

Telecom Power Systems Market Grid Type Estimates and Scope Analysis by 2028

Telecom Power Systems Industry Overview

The global telecom power systems market size is estimated to reach USD 5.85 billion by 2028, expanding at an estimated CAGR of 8.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising demand for high-speed data connectivity and rising penetration of smartphones has escalated the demand for advanced telecom power systems globally.The surging energy consumption per household worldwide has compelled market players to develop innovations such as collaborative user interaction, distribution grid automation, and the automated system controls to ensure continuous power supply.

Factors such as the rising investments in hybrid telecom infrastructure, escalating demand for video streaming, and a significant rise in digital content consumption are also expected to offer enormous growth opportunities for the market. Besides, the rising deployment of 5G network globally is compelling telecom power system providers to realign their product offerings. 5G networks could deliver benefits such as ultra-high bandwidth, ultra-low latency, mass communication, changing business operations, and improving the telecom power system’s decision-making intelligence for vertical industries. According to the State Grid Corporation of China (SGCC), the combination of 5G network with telecom power grids is expected to provide a solid foundation for the smart industrial revolution.

Telecom Power Systems Market Segmentation

Grand View Research has segmented the global telecom power systems market based on product, grid type, power source, and region:

Based on the Type Insights, the market is segmented into On-Grid, Off-Grid, and Bad Grid.

• The on-grid segment held the largest revenue share of over 40.0% of the overall telecom power systems market in 2020 and is expected to witness steady growth during the forecast period.
• The bad grid segment is estimated to expand at the highest CAGR over the forecast period.
• This can be attributed to the expansion of telecom networks in rural areas in several countries owing to the rise in the mobile subscriber base and investment by tower companies to achieve universal coverage.

Based on the Product Insights, the market is segmented into AC Power Systems, DC Power Systems, and Digital Electricity.

• The DC power systems segment accounted for the highest revenue share of over 60.0% in 2020 and is expected to retain its dominance over the forecast period.
• DC power systems have a wide range of applications in telecommunication systems, data centers, electric vehicles, aircraft, commercial buildings, and residential homes. 
• With the rising deployment of smart meters, the digital electricity segment is anticipated to expand at the fastest CAGR over the forecast timeframe.
• Digital electricity, also known as switching power supply, comprises smart meters that manage and record electricity and the performance of electronic equipment. 

Based on the Power Source Insights, the market is segmented into Diesel-Battery, Diesel-Solar, Diesel-Wind, and Other Sources.

• The diesel-battery segment accounted for the largest revenue share of close to 45.0% of the overall telecom power system market in 2020.
• The diesel-solar segment is expected to register the highest CAGR during the forecast period. This growth can be attributed to the rising demand for hybrid energy sources with a low cost of operation.
• Hybrid power sources are gaining popularity owing to the rising need for reducing carbon footprint and boosting the adoption of green telecom infrastructure over the forecast period.

Telecom Power Systems Regional Outlook

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

Key Companies Profile & Market Share Insights

The market features the presence of both large-scale and medium-scale telecom power system companies. Several providers are emphasizing the development of advanced telecom power systems, improved energy efficiency, product reliability, scalability, optimal system design, product management, control, security, and cost-effective deployment to gain a competitive advantage in the global market. Moreover, prominent industry players are collaborating with other market participants to upgrade their telecom power systems portfolio in accordance with the dynamic customer requirements.

Some of the prominent players operating in the global telecom power systems market are:

• Alpha Technologies, Services, Inc.
• Ascot
• Eaton
• General Electric
• Huawei Technologies Co., Ltd.
• Schneider Electric
• ZTE Corporation

Order a free sample PDF of the Telecom Power Systems Market Intelligence Study, published by Grand View Research.

Telecom Services Market is driven by the Growing Number of Mobile Subscribers

Telecom Services Industry Overview

The global telecom services market size is expected to reach USD 2.47 trillion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2021 to 2028. Increased spending on next-generation wireless communication infrastructures due to the shift in customer preferences toward the 5G network and cloud-based technology is primarily driving the demand for telecom services. Furthermore, soaring demand for high-speed data connectivity, the rapid spread of digitalization worldwide, and the explosion of consumer-generated multimedia content via Over-The-Top (OTT) applications are some of the other key factors that are expected to significantly contribute to the industry growth. 

With the plurality of telecom services, networks, and providers, the sector has emerged as one of the acute components essential for global socio-economic development. The rapid adoption of smartphone devices is another dynamic that has majorly contributed to the growth of the global telecom industry and has manifested in the businesses of telecom companies. The migration of cellular devices from feature phones to 5G-enabled smartphones has generated a massive demand for high bandwidth connectivity, improved voice services, and other value-added services, thereby fueling the market growth over the forecast period.

Telecom Services Market Segmentation

Grand View Research has segmented the global telecom services market on the basis of service type, transmission, end-use, and region:

Based on the Type Insights, the market is segmented into Fixed Voice Services, Fixed Internet Access Services, Mobile Voice Services, Mobile Data Services, Pay-TV Services, and Machine-to-Machine (Mobile IoT) Services.

• The mobile data services segment held the largest share of nearly 33.0% and is expected to exhibit a significant CAGR from 2021 to 2028. This is attributed to the significantly growing usage of smartphones among consumers.
• Rapidly rising demand for high-speed broadband services for corporate and residential applications is further expected to bolster the segment growth over the forecast period.
• Moreover, a massive demand for accessing online 4K UHD videos and playing online cloud gaming is estimated to spur the data services market growth.
• The evolution of the Internet of things (IoT) devices has raised its proliferation across several industry verticals, including healthcare, manufacturing, energy and utilities, and the public sector, among others.

Based on the End-use Insights, the market is segmented into Consumer/Residential, and Business.

• The consumer/residential segment accounted for the largest revenue share of more than 60.0% and is projected to maintain its lead over the forecast period. The significant growth is ascribed to the proliferation of smartphones worldwide.
• The growing trend of using ultra-high-definition videos and online gaming is expected to boost the segment growth over the forecast period.
• The demand for telecom services is increasing in business applications with the deployment of next-generation high-speed networks.
• To handle a rapidly increasing chunk of customers’ datasets, it would require unified and fast network connectivity across businesses globally. This, in turn, is estimated to fuel the segment growth from 2021 to 2028.

Based on the Transmission Insights, the market is segmented into Wireline and Wireless.

• The wireless segment accounted for the largest share of over 75.0% and is expected to exhibit a significant CAGR from 2021 to 2028.
• The advent of cloud-computing technologies, artificial intelligence, and IoT is presumed to majorly contribute to the growth of wireless communication channels worldwide.
• Growing 5G wave would offer demarcation between wireless and wireline networks and is envisioned to converge the communication modes into a unified end-to-end system in public, residential, and enterprise spaces.  

Telecom Services Regional Outlook

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

Key Companies Profile & Market Share Insights

Key market players are strategically focused on mergers and acquisitions in order to expand their geographical presence and overall product portfolios. Moreover, key market players are investing a significant amount in acquiring the necessary spectrum for offering next-generation services. Having an adequate spectrum would allow the market players to strengthen their overall portfolios and expand their subscriber base across various countries

Some prominent players in the global telecom services market include:

• AT&T Inc. 
• Verizon Communications Inc. 
• Nippon Telegraph and Telephone Corporation (NTT)
• China Mobile Ltd.
• Deutsche Telekom AG
• SoftBank Group Corp.
• China Telecom Corp Ltd.
• Telefonica SA 
• Vodafone Group

Order a free sample PDF of the Telecom Services Market Intelligence Study, published by Grand View Research.

Laser Marking Machine Market is driven by Increasing Trend of Automation in Manufacturing Processes

Laser Marking Machine Industry Overview

The global laser marking machine market size is estimated to reach USD 5.03 billion by 2028, expanding at a CAGR of 8.0% over the forecast period, according to a study conducted by Grand View Research, Inc. Rising adoption of advanced marking technologies across industries such as machine tools and aerospace and the growing demand for precision marking on manufactured products to improve product’s traceability are some of the factors driving the market growth. Wide-scale applications in the marking of machine tools and equipment especially in the automotive and semiconductor and electronics industries are anticipated to fuel the market demand from 2020 to 2027. 

Growing focus on factory automation to enhance productivity, conserve energy, and reduce downtime is anticipated to propel the overall market demand. Moreover, emerging economies such as India are the primary markets where the trend for mass production can be witnessed over the next couple of years. Mass production can be carried out with the help of automation technologies and quick rollout assembly lines, hence attributing to the demand for automated laser marking machines. For instance, the demand for smartphones in the country has forced the manufacturers to start the local production or assembly of smartphone components.

Laser Marking Machine Market Segmentation

Grand View Research has segmented the global laser marking machine market on the basis of type, application, and region:

Based on the Type Insights, the market is segmented into CO2 Laser, Fiber Laser, Green Laser, UV Laser, and YAG Laser.

• The fiber laser type segment accounted for the largest revenue share of over 43.0% in 2020 and is anticipated to register the fastest growth over the forecast period.
• This is attributed to its various benefits such as flexible fiber light, high optical quality, high output power, and compact size of the machine.
• Apart from fiber laser, other types of lasers considered in the study are CO2, green, UV, and YAG lasers.
• The UV laser and YAG laser segments are expected to register significant CAGRs over the forecast period due to their ability of fine cutting and micro-processing of specific materials such as glass, textile, ceramic liquid crystal screen, and others.

Based on the Application Insights, the market is segmented into Automotive, Aerospace, Machine Tool, Electronics and Microelectronics, Medical, Packaging, Military, and Others.

• The aerospace application segment is expected to register the fastest growth with a CAGR of over 10% from 2021 to 2028.
• The application of laser marking machines has witnessed a tremendous increase over the past few years owing to the growing demand for electronic products. 
• Besides, electronic device manufactures are also focusing on diversification of product range to grab a larger share of the market, thus leading to an increase in the production of electronic devices and positively impacting the market growth.
• The machine tool application segment accounted for the largest revenue share of around 25% in 2020.
• The growing functionality of lasers to provide permanent alphanumeric details on machine tools, such as batch numbers, 1D & 2D bar codes, designs, dates of manufacturing, brand names, manufacturer codes, and logos, is fueling the segment growth. 

Laser Marking Machine Regional Outlook

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

Key Companies Profile & Market Share Insights

The key players in the market are increasingly investing in research and development activities to enhance their product offerings and gain a competitive edge over their counterparts. The leading vendors in the market are focusing on providing enhanced marking systems to cater to the needs of varying customers and gain a more significant market share. Moreover, companies are also highly focused on strategic partnerships and acquisitions to expand their operations and product offerings to meet consumer demands.

Some of the prominent players operating in the global laser marking machine market are:

• Han's Laser Technology Industry Group Co., Ltd
• Telesis Technologies, Inc.
• Videojet Technologies, Inc.
• Trotec Laser GmbH
• Epilog Laser
• TYKMA Electrox, Inc.
• MECCO
• LaserStar Technologies Corporation
• Gravotech Marking
• Sea Force Co., Ltd.

Order a free sample PDF of the Laser Marking Machine Market Intelligence Study, published by Grand View Research.

Key Players Operating In the Hydroponics Market Include AeroFarms and Argus Control Systems

Hydroponics Industry Overview

The global hydroponics market size is estimated to reach USD 9.76 billion by 2028, exhibiting a CAGR of 20.7% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The adoption of smart farming technologies, such as vertical farming, which has helped the evolution of hydroponics, is expected to spur market growth. Continuous improvements in hydroponics technologies and the introduction of innovative, state-of-the-art technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, are likely to fuel the demand. 

This high growth rate is attributed to the increasing use of hydroponic systems for the indoor farming of vegetables. Also, the adoption of alternative farming methods for cannabis cultivation is rapidly rising, owing to the legalization of marijuana in countries like Canada, the Czech Republic, South Africa, and others. Increasing awareness among consumers regarding the effects of pesticides and artificial ripening agents on their health is expected to drive the demand for hydroponics, as the method eliminates the need for such products, thereby providing nutritionally superior vegetables. Low installation cost and ease of operation of these systems are also expected to boost the adoption in near future. 

Hydroponics Market Segmentation

Grand View Research has segmented the global hydroponics market based on type, crops, and region:

Based on the Crops Insights, the market is segmented into Tomatoes, Lettuce, Peppers, Cucumbers, Herbs, and Others.

• The tomatoes segment dominated the market with a share of more than 40% of the total market share in 2020.
• Tomatoes are the largest hydroponically cultivated crops across the globe owing to the faster cultivation rate and as it requires very less amount of water compared to regular farmed tomatoes.
• The indoor farmers use rock wool, perlite, or coconut coir as growing materials for tomato hydroponic cultivation.
• Leafy vegetables, such as spinach, arugula, kale, and lettuce are increasingly gaining popularity among hydroponic growers. Among these, green and red leaf lettuce is the largest hydroponically grown vegetable among indoor farmers owing to its raw consumption in relatively large quantities. 
• The hydroponic cultivation of lettuce is rising in North America on account of its rising demand from households and fast-food chains across the region. The global market size for lettuce is estimated to register the fastest CAGR of more than 23% over the forecast period.

Based on the Type Insights, the market is segmented into Aggregated systems and Liquid systems.

• The aggregate systems held the largest market share of approximately 55% in 2020 owing to its widespread popularity among all the indoor hydroponic farmers owing to its ease of setup and inexpensiveness.
• In such systems, inert and solid media such as peat, rock wool, vermiculite, sand, sawdust, perlite, or coconut coir provides support for the plants.
• The liquid systems segment is estimated to expand at the fastest CAGR from 2021 to 2028, owing to the increasing popularity of closed system cultivation among growers.
• Deepwater culture and Nutrient Film Technique (NFT) systems are being increasingly used to cultivate lettuce and other leafy vegetables.

Hydroponics Regional Outlook

• North America
• Europe
• Asia Pacific
• Rest of World

Key Companies Profile & Market Share Insights

A few of the major industry players include AeroFarms (U.S.), Illumitex, Inc. (U.S.), and American Hydroponics (U.S.). These players are involved in strategies such as partnerships, business expansions, new product developments, and contracts to expand their market share. The companies are focusing on building greenhouses and expanding hydroponic farms to meet the end-market requirements. For instance, In April 2021, AeroFarms announced the commencement of the construction of its second commercial 136,000 square foot indoor vertical farm in Danville-Pittsylvania County, Virginia. Danville Farm is strategically located close to more than 1,000 grocery stores in the area, serving approximately 50 million people in a day's drive. Similarly, Numerous vendors are investing in research and development activities to develop differentiated products that help them stay ahead of the competition. For instance, in 2020, Signify Holding, a Netherland-based company, invested 4.8% of its revenue in research & development. This investment is expected to help the company in enhancing its product offerings.

Some of the prominent players operating in the global hydroponics market are:

• AeroFarms
• AmHydro
• Argus Control Systems Ltd.
• Emirates Hydroponics Farms
• Freight Farms
• Green Sense Farms Holdings, Inc.
• Heliospectra AB
• LumiGrow
• Signify Holding
• Terra Tech Corp.

Order a free sample PDF of the Hydroponics Market Intelligence Study, published by Grand View Research.

Which Region Accounted For The Largest Active Electronic Components Market Share?

Active Electronic Components Industry Overview

The global active electronic components market size is estimated to reach USD 529.86 billion by 2028, registering a CAGR of 9.2% from 2021 to 2028, according to a new study by Grand View Research, Inc. Growing demand for active electronics components in the production of smart home appliances, such as refrigerators, air conditioners, and washing machines, is estimated to boost the market growth over the forecast period. Moreover, the anticipated adoption of these components in networking devices and telecom equipment requisite for developing 5G infrastructure is further expected to elevate the market growth from 2021 to 2028. 

The growing popularity of wearables, such as smartwatches, Virtual Reality (VR) headsets, and fitness bands, and increased consumer spending on health and entertainment are also anticipated to increase product adoption in the coming years. In addition, voluminous patient data coupled with investments made by the governments and private players worldwide for setting up state-of-the-art healthcare facilities has augmented the adoption of high-tech medical equipment and connected devices, thereby boosting the product demand.

Active Electronic Components Market Segmentation

Grand View Research has segmented the global active electronic components market on the basis of product type, end-user, and region:

Based on the Product Type Insights, the market is segmented into Semiconductor Devices, Vacuum Tubes, Display Devices, and Others.

• The semiconductor devices segment held the highest revenue share of over 62% and is estimated to expand further at the fastest CAGR from 2021 to 2028.
• The segment growth is attributed to the robust adoption of semiconductor devices across several applications including household appliances, mobile phones, Personal Computers (PCs), and network equipment among others. 
• The demand for 5G chipsets is progressively increasing in the developed economies with the introduction of 5G-enabled smartphones and budding demand for car automation systems and telecom equipment.
• Therefore, with the increasing production of 5G chipsets, it is presumed that the IC segment may register strong growth during the forecast period.

Based on the End-user Insights, the market is segmented into Consumer Electronics, Networking & Telecommunication, Automotive, Manufacturing, Aerospace & Defense, Healthcare, and Others.

• The consumer electronicssegment led the global market in 2020 accounting for the highest revenue share of over 33%. The segment is expected to expand further at the fastest CAGR of more than 10% over the forecast period.
• The growth is primarily attributed to the increasing demand for semiconductor devices for various consumer devices, such as mobile phones, digital cameras, Set-Top Boxes(STB), wearable devices, gaming devices, and others.
• With the rising consumer interest in autonomous vehicles, prominent OEMs, such as Waymo, Ford Motor Company, Tesla, Inc., and Volkswagen Group, is deploying autonomous systems in their newly manufactured vehicles. Therefore, demand for these systems is expected to increase product consumption in the automotive segment.
• Moreover, the adoption of the connected technology for remote patient monitoring coupled with the demand for advanced medical equipment is expected to boost product usage in the healthcare end-user segment over the forecast period.

Active Electronic Components Regional Outlook

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

Key Companies Profile & Market Share Insights

Key players are highly focused on launching new products to gain a significant market share and enhance their overall profitability. However, some players are focusing on mergers and acquisitions to strengthen their overall market presence. 

Some of the prominent players in the global active electronic components market include: 

• Infineon Technologies AG
• NXP Semiconductors NV
• Texas Instruments, Inc.
• Toshiba Corp.
• Intel Corp.
• Maxim Integrated
• Broadcom, Inc.
• Qualcomm, Inc.
• Analog Devices, Inc.
• Advanced Micro Devices
• Microchip Technology, Inc.
• Monolithic Power Systems, Inc.

Order a free sample PDF of the Active Electronic Components Market Intelligence Study, published by Grand View Research.

How big is the location-based entertainment market?

Location-based Entertainment Industry Overview

The global location-based entertainment market size is anticipated to reach USD 30.29 billion by 2028, registering an estimated CAGR of 34.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. The introduction of Virtual Reality (VR) in the gaming industry has added a new dimension by offering a simulated realm for gamers looking forward to an immersive and real-like experience. As such, several video game developers are entering into mergers and acquisitions with VR and Location-based Entertainment (LBE) technology providers to increase their respective market shares. 

LBE services are offered in arcades, amusement parks, and VR cafes, among other entertainment services. The integration of Augmented Reality (AR), VR, 3D animation, and other immersive technologies with LBE is driving the growth of the market for location-based entertainment. LBE operators are concentrating on expanding their global footprint and gaining a competitive advantage over their rivals. For instance, in September 2020, Koch Media GmbH, a video game company, acquired Vertigo Games to strengthen its global reach and network while opening new publishing opportunities for itself and for Vertigo Games and its subsidiaries.

Location-based Entertainment Market Segmentation

Grand View Research has segmented the global location-based entertainment market based on component, end use, technology, and region:

Based on the Component Insights, the market is segmented into Hardware and Software.

• The hardware segment accounted for the largest revenue share of over 65.0% in 2020 and is expected to continue dominating the market growth over the forecast period.
• The growth of the segment can be attributed to the continued innovations in VR/AR-based gadgets, such as headsets, haptic suits, and other simulation devices.
• The software segment is anticipated to witness the fastest CAGR of over 35.0% from 2021 to 2028.
• The growth can be attributed to the continued innovations in the software and applications used in LBE services. The growing popularity of mobile-based gaming using VR devices is also expected to drive the growth of the segment.

Based on the End-use Insights, the market is segmented into Amusement Parks, Arcade Studios, and 4D Films.

• The amusement parks segment accounted for the largest market share of around 40.0% in 2020 and is expected to continue dominating the market over the forecast period.
• The arcade studios segment is anticipated to register the fastest CAGR of over 35.0% from 2021 to 2028.
• The introduction of 4D films and other state-of-the-art technological experiences leveraging 4D haptic movements and holometric chairs are offering exciting, real-like immersive experiences to viewers, thereby driving the growth of the 4D films segment over the forecast period.

Based on the Technology Insights, the market is segmented into 2 Dimensional (2D), 3 Dimensional (3D), and Cloud Merged Reality (CMR).

• The 3 Dimensional (3D) technology segment accounted for the largest revenue share of over 40.0% in 2020.
• The growing acceptance of 3D technology in the entertainment industry is anticipated to drive the segment growth.
• With considerable advances in 3D animation, 3D mapping, and others 3D technologies, the scope of the adoption of 3D technology in LBE has significantly increased.
• The Cloud Merged Reality (CMR) segment is anticipated to witness significant growth over the forecast period owing to the unabated advances in technology.
• Several large technology-based enterprises have extensively adopted CMR owing to its time-saving attributes. 

Location-based Entertainment Regional Outlook

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

Key Companies Profile & Market Share Insights

The market can be described as a moderately fragmented market owing to the presence of many market players. The deployment of VR technology in location-based entertainment is growing constantly in line with the rapid advances in the realm. Several operators are aggressively implementing extended reality in LBE. At the same time, the leading LBE companies have started investing in the entertainment industry. Advances in technology and the incorporation of AR, VR, 3D mapping, mixed reality, and other immersive technologies continue to largely influence the market growth. The growing demand from consumers for high-quality, immersive, and real-like experiences is driving the growth of the market. 

Some of the prominent players operating in the global location-based entertainment market are: 

• HTC Corporation
• IMAX Corporation
• Google LLC
• Microsoft Corporation
• Samsung Electronics Co., Ltd.
• Springboard VR

Order a free sample PDF of the Location-based Entertainment Market Intelligence Study, published by Grand View Research.

Semi-trailer Market is driven by Expanding Cold Chain Industry

Semi-trailer Industry Overview

The global semi-trailer market size is anticipated to reach USD 29.36 billion by 2028, expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load-carrying capacity of semi-trailers. 

In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years. Furthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load-carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.

Semi-trailer Market Segmentation

Grand View Research has segmented the global semi-trailer market based on type and region:

Based on the Type Insights, the market is segmented into Flat Bed Trailer, Dry Vans, Refrigerated Trailers, Lowboy Trailers, Tankers, and Others.

• The dry vans segment accounted for the largest volume share of over 35.0% in 2020 and is anticipated to maintain its lead over the forecast period, with wide applications across multiple industries.
• Dry vans are generally used to transport freight that requires nominal protection against road and climate conditions.
• The flat bed trailer segment captured a sizeable volume share in 2020 and is estimated to expand at the second-highest CAGR of 6.4% in terms of revenue from 2021 to 2028.
• The growth in the construction industry across developed and emerging economies is anticipated to fuel the segment growth.
• Flat bed trailers are generally used to transport heavy cargo, such as heavy machinery and construction materials and equipment. Besides, the adoption of refrigerated trailers is expected to increase significantly due to the expanding cold chain
• The increasing number of QSR, the general push for healthier, fresh products, and higher disposable income are positively impacting every aspect of the cold chain industry.

Semi-trailer Regional Outlook

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

Key Companies Profile & Market Share Insights

The market for semi-trailers is highly fragmented due to the presence of several global and regional players. Organic growth remains the key strategy among the industry participants with a major focus on product launches and expansions to expand their presence across the untapped market and meet consumer needs. For example, in June 2021, Schmitz Cargobull, a European manufacturer of semi-trailers, announced the opening of its new factory in Manchester. Through this expansion, the company aims to build customized vehicles for the U.K. and Irish operators.

Furthermore, there is an increasing trend towards collaboration among component suppliers and OEMs. The OEMs are focusing on forming strategic partnerships with component suppliers in order to ensure a consistent supply of inventory. With the advent of autonomous trailers equipped with advanced telematics, demand for these variants is on the rise, and manufacturers are hence compelled to scale up their production volumes to meet the growing demand.

Some prominent players in the global semi-trailer market include:

• China International Marine Containers (Group) Ltd.
• Fontaine Commercial Trailer, Inc.
• Great Dane
• Kogel Trailer GmbH & Co.KG
• Krone Commercial Vehicle Group
• Lamberet SAS
• Polar Tank Trailer, LLC
• Schmitz Cargobull
• Utility Trailer Manufacturing Company
• Wabash National Corporation
• HYUNDAI TRANSLEAD

Order a free sample PDF of the Semi-trailer Market Intelligence Study, published by Grand View Research.

Key Players Operating in the VR Headset Market include Samsung Group and Facebook

Virtual Reality Headset Industry Overview

The global virtual reality headset market size is anticipated to reach USD 55.69 billion by 2028, registering an estimated CAGR of 28.2% from 2021 to 2028, according to a new report by Grand View Research, Inc. The continuous advancements in virtual reality (VR) technology and the rapid penetration of smartphones are expected to drive market growth. The rising product adoption in the education and healthcare sectors, mainly for teaching & training purposes, is further contributing to the growth of the market. 

The increasing product usage for different applications across industries, especially in the wake of the Covid-19 pandemic, is also driving the market growth. The deployment of these devices is expected to increase as temporary lockdowns imposed by governments have impelled people to shift to virtual platforms for various services. The demand for head-mounted displays witnessed a surge in demand during the pandemic.

Virtual Reality Headset Market Segmentation

Grand View Research has segmented the global virtual reality headset market on the basis of end-device, product type, application, and region:

Based on the Product Type Insights, the market is segmented into Standalone, Smartphone-enabled, and Standalone PC-connected.

• The standalone product type segment accounted for the largest revenue share of over 43% in 2020 and is anticipated to retain its dominance from 2021 to 2028. A standalone device offers a high-quality experience at an affordable price.
• The smartphone-enabled product type segment is expected to exhibit the second-fastest CAGR of over 30.7% during the forecast period. The segment growth can be attributed to the rising penetration of advanced VR-enabled smartphones with the amalgamation of 3D technology and Artificial Intelligence.
• The standalone PC-connected product type segment is expected to witness a sluggish demand from 2021 to 2028. The positioning of standalone PC-connected products in the gaming sector is expected to uphold the segment progress owing to its ability to offer a high-quality immersive experience.

Based on the End-device Insights, the market is segmented into Low-end Device, Mid-range Device, and High-end Device.

• The high-end device segment accounted for the largest revenue share of more than 58% in 2020 and is expected to retain its dominance over the forecast period.
• The advanced features of these devices, including high-quality visual effects, self-tracking, and elevated performance, are expected to drive the segment growth.
• The low-end device segment is anticipated to exhibit the highest CAGR of around 35.0% from 2021 to 2028. This growth can be attributed to the benefits of these devices, such as lower costs, considerable immersive experience, and high propulsion.

Based on the Application Insights, the market is segmented into Gaming, Healthcare, Media & Entertainment, Manufacturing, Retail, Education, Telecommunications, and Others.

• The gaming segment accounted for the largest revenue share of over 30.0% in 2020 and is anticipated to dominate the global VR headset market over the forecast period.
• The retail segment is also expected to observe substantial growth as retailers are integrating these devices into their stores to improve the buying experience.
• The education segment is anticipated to register the fastest CAGR from 2021 to 2028. This can be attributed to the increased product deployment in educational institutions and medical schools.
• Moreover, the advancements in the healthcare sector due to Virtual Reality technology, along with favorable government regulations for facility enrichment, are promoting the segment growth. 

VR Headset Regional Outlook

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

Key Companies Profile & Market Share Insights

Leading companies are constantly investing in R&D for the development of cost-effective devices that offer high quality and can be utilized by various end-use industries. Unceasing investments in the research & development of VR technology by industry participants are expected to boost the market growth over the forecast period.

Some prominent players in the global VR headset market include:

• Carl Zeiss AG
• Facebook Technologies, LLC (Oculus)
• Google LLC
• HTC Corporation
• LG Electronics
• Microsoft
• Razer Inc.
• Samsung Electronics Co., Ltd.
• Sony Corporation

Order a free sample PDF of the VR Headset Market Intelligence Study, published by Grand View Research.

Which vertical dominated the fraud detection and prevention market?

Fraud Detection And Prevention Industry Overview

The global fraud detection and prevention market size is expected to reach USD 62.70 billion by 2028, registering a CAGR of 15.4% over the forecast period, according to a new report by Grand View Research, Inc. Rise in incidences of mobile payment frauds, phishing, and card frauds, and their subsequent impact on businesses and resultant financial losses are anticipated to drive market growth over the forecast period. 

Digital transformation is the new buzzword, as businesses transform the way they interact with their customers. However, increased digitization has also exposed businesses to online frauds and scams. Thus, to mitigate these frauds, while securing customer as well as business data, the demand for fraud detection and prevention (FDP) solutions is anticipated to witness an upsurge over the forecast period. Digital platforms and online banking applications, wherein consumers directly interact with businesses, are complex. These applications require several risk-based security solutions to detect fraud at individual layers. Without implementing solutions and vulnerability testing, hacktivists and fraudsters can easily exploit gaps across these channels.

Fraud Detection And Prevention Market Segmentation

Grand View Research has segmented the global fraud detection and prevention market on the basis of component, solutions, services, application, organization, vertical, and region:

Based on the Component Insights, the market is segmented into Solutions, and Services.

• The solutions segment held the largest revenue share of more than 64.0% in 2020. The growing incidences of Account Take Overs (ATO) and phishing emails have compelled enterprises to adopt advanced tools and solutions to detect anomaly patterns of fraud at a preliminary stage.
• The services segment is estimated to register the fastest CAGR over the forecast period. Organizations in developing economies are increasingly implementing robust fraud prevention strategies.

Based on the Solutions Insights, the market is segmented into Fraud Analytics, Authentication, Governance, Risk, and Compliance.

• The authentication solutions segment dominated the market in 2020 and accounted for more than 43% of the overall revenue share in the same year.
• The fraud analytics solutions segment is anticipated to register the fastest CAGR over the forecast period.
• Digital technologies are on the rise, and data assimilation from these technologies transforms the business environment, creating new business growth opportunities.

Based on the Application Insights, the market is segmented into Identity Theft, Money Laundering, Payment Fraud, and Others.

• The payment fraud application accounted for the maximum revenue share of over 53% in 2020 and is expected to continue to grow at a steady CAGR over the forecast period.
• The growing demand for cashless payment modes and e-wallet among consumers has created avenues for fraudsters.
• The identity theft segment is anticipated to register the fastest CAGR over the forecast period.

Based on the Services Insights, the market is segmented into Professional Services, and Managed Services.

• The professional services segment held the largest revenue share of over 70% in 2020 and is expected to retain the leading position throughout the forecast period.
• The managed services segment is anticipated to grow at the fastest CAGR over the forecast period.

Based on the Organization Insights, the market is segmented into SMEs and Large Enterprises.

• The large enterprise segment accounted for the largest revenue share of more than 74% in 2020.
• SMEs segment is estimated to record the fastest CAGR over the forecast period. The segment growth is attributable to the increasing fraud cases in these organizations.

Based on the Vertical Insights, the market is segmented into BFSI, Government & Defense, Healthcare, IT & Telecom, Industrial & Manufacturing, Retail & E-commerce, and Others.

• The BFSI segment accounted for the highest revenue share of more than 30% in 2020. Rapid digitization and electronification of operations have made the incumbents of the banking and financial services industry a popular target among cybercriminals.
• The retail & e-commerce vertical segment is anticipated to register the fastest CAGR over the forecast period. Incumbents in the retail & e-commerce industry rely on electronic devices and digital platforms to improve customer experience.

Fraud Detection & Prevention Regional Outlook

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

Key Companies Profile & Market Share Insights

The market is highly fragmented and characterized by several companies actively offering a wide range of products. Factors, such as advancement in fraud detection solutions and establishing strategic deals like partnerships and collaborations, intensify the market competition. Key players are involved in product innovation and collaboration strategies to expand their business growth.

Some of the prominent companies in the global fraud detection and prevention (FDP) market include:

• Total System Services, Inc.
• Software AG
• SAS Institute, Inc.
• SAP SE
• Oracle
• IBM
• Fiserv, Inc.
• Experian plc
• Equifax, Inc.
• BAE Systems
• ACI Worldwide, Inc.

Order a free sample PDF of the Fraud Detection & Prevention Market Intelligence Study, published by Grand View Research.

Anti-money Laundering Market Size, Share and Trends Analysis Report by Product Type, 2028

Anti-money Laundering Industry Overview

The global anti-money laundering market size is expected to reach USD 3.19 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 15.6% from 2021 to 2028. The growth can be attributed to the growing volume of non-cash transactions, coupled with a rise in technological developments in the fintech sector. In recent years, banks have increased their IT expenditure toward the adoption of advanced solutions and technologies to improve the security of their services and products. 

The rapid developments in artificial intelligence, big data, machine learning, and other technologies are creating new opportunities for the market. The rising risk of financial crimes and fraudulent transactions, arising from factors such as the vulnerabilities inherent to digitization and automation, is compelling financial institutions to employ technologies such as machine learning for identifying suspicious transactions on a real-time basis. As a result, various companies are making efforts to deploy machine learning capabilities in anti money laundering solutions.

Anti Money Laundering Market Segmentation

Grand View Research has segmented the global anti-money laundering market on the basis of component, product type, deployment, end-use, and region:

Based on the Component Insights, the market is segmented into Software and Services.

• The software segment dominated the market in 2020 and accounted for more than 60% share of the global revenue.
• Anti-money laundering software helps organizations ensure that the legal requirements framed by government bodies are met.
• The services segment is anticipated to register the highest growth over the forecast period.

Based on the Deployment Insights, the market is segmented into Cloud and On-premise.

• The on-premise segment dominated the market in 2020 and accounted for more than 50.0% share of the global revenue.
• The cloud segment is anticipated to register the highest growth over the forecast period. The cloud-based deployment of anti-money laundering solutions helps organizations in reducing the cost of establishing the required IT infrastructure.
• Moreover, other benefits of cloud-based deployment, including flexibility and a steady improvement in security features, are expected to drive the adoption of cloud solutions in the near future.
• The use of security features such as multi-factor authentication to access stored data grants cloud computing additional security from the risk of laundering.

Based on the Product Type Insights, the market is segmented into Compliance Management, Currency Transaction Reporting, Customer Identity Management, and Transaction Monitoring.

• The transaction monitoring segment dominated the market in 2020 and accounted for more than a 30% share of the global revenue.
• Anti-money transaction monitoring software enables financial institutes to conduct customer transactions on a real-time basis.
• The customer identity management segment is expected to register the highest growth over the forecast period.

Based on the End-use Insights, the market is segmented into BFSI, Government, Healthcare, IT & Telecom, and Others.

• The BFSI segment dominated the market in 2020 and accounted for more than 33% share of the global revenue.
• The IT and telecom segment is anticipated to register significant growth over the forecast period.
• The increased focus on anti-money laundering compliance by IT organizations is expected to drive market growth.

Anti-money Laundering Regional Outlook

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

Key Companies Profile & Market Share Insights

The competitive landscape of the market is highly fragmented in nature. Market players are focused on strategies such as partnerships, joint ventures, product innovation, research & development, and geographical expansion to strengthen their market positions. Businesses are focusing on providing on-premise software solutions to enterprises due to security-related benefits. The on-premise anti-laundering solutions help enterprises enhance their security level and thereby enhance the level of customer satisfaction.

Market players are focused on enhancing their product offerings to better cater to the changing needs of users and stay competitive. For instance, in January 2019, NICE Actimize launched IFM-X, an integrated fraud management platform that leverages machine learning and automation technologies to optimize proficiency while reducing the entire cost of implementing and operating a risk management system. In May 2019, Tata Consultancy Services Limited launched TCS BaNCS for Payments solution in Canada, which supports real-time payment processing. The new solution is expected to encourage financial institutions and banks to speed up the adoption of modernization initiatives by Payments Canada. 

Some of the prominent players operating in the anti-money laundering market are: 

• NICE Actimize
• Tata Consultancy Services Limited
• Trulioo
• Cognizant Technology Solutions Corporation
• ACI Worldwide, Inc.
• SAS Institute Inc.
• Fiserv, Inc.
• Oracle Corporation
• BAE Systems
• Accenture

Order a free sample PDF of the Anti-money Laundering Market Intelligence Study, published by Grand View Research.