Friday, 1 August 2025

Carbon Accounting Software Market: Impact of Regulatory Changes on Adoption

 The global carbon accounting software market was valued at approximately USD 16.92 billion in 2023 and is projected to reach USD 67.58 billion by 2030, growing at a compound annual growth rate (CAGR) of 22.1% from 2024 to 2030. This growth is driven by increasing global awareness and regulatory pressure to reduce carbon emissions and combat climate change.

 

Organizations across various industries are adopting carbon accounting software to accurately measure, track, and report their carbon footprints. This software aids in compliance with stringent environmental regulations and supports corporate sustainability initiatives by providing real-time insights into carbon emissions across operations.

 

The demand for transparency in environmental reporting, alongside the growing adoption of Environmental, Social, and Governance (ESG) standards, is further propelling market expansion. Moreover, the integration of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) into carbon accounting solutions is enhancing their efficiency and user-friendliness.

 

As businesses increasingly emphasize corporate sustainability, carbon accounting software enables them to transparently monitor and report their carbon footprints. This not only showcases their commitment to sustainability but also appeals to eco-conscious consumers and investors. The market is also benefiting from the rising adoption of cloud-based solutions, which offer scalability and ease of access, making carbon accounting more attainable for small and medium-sized enterprises. With the ongoing global shift towards sustainability and the decarbonization of industries, the carbon accounting software market is well-positioned for robust growth in the coming years, playing a vital role in helping businesses meet their environmental objectives.

 

Key Market Trends & Insights

 

  • North America dominated the carbon accounting software market with a revenue share exceeding 37.0% in 2023. The U.S. and Canadian governments have implemented rigorous reporting requirements for greenhouse gas emissions, compelling organizations across various sectors to adopt carbon accounting software. The growing focus on ESG practices among North American companies has also driven demand for advanced tools to monitor and report carbon emissions.
  • The U.S. carbon accounting software market is expected to experience significant growth from 2024 to 2030. Stricter environmental regulations and carbon reduction targets from the U.S. government are motivating businesses across various sectors to adopt carbon accounting software for compliance and enhanced sustainability reporting. Additionally, the U.S. market benefits from a robust tech ecosystem that fosters the development and adoption of innovative carbon accounting solutions.
  • By deployment, the cloud segment led the market, capturing over 72.0% of global revenue in 2023. Cloud-based solutions allow organizations to access carbon accounting tools from anywhere, facilitating real-time tracking and management of emissions data across multiple locations. This accessibility is particularly advantageous for companies with distributed operations or remote teams.
  • In terms of end use, the energy and utilities segment accounted for the largest revenue share in 2023. Energy and utility companies are among the largest greenhouse gas emitters, facing stringent environmental regulations and reporting requirements. These organizations are under significant pressure to reduce their carbon footprints and transition to more sustainable practices.

 

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Market Size & Forecast

 

  • 2023 Market Size: USD 16.92 Billion
  • 2030 Projected Market Size: USD 67.58 Billion
  • CAGR (2024-2030): 22.1%
  • North America: Largest market in 2023

 

Key Companies & Market Share Insights

 

Key companies include IBM Corporation, SAP SE, Salesforce, Inc., and Microsoft. These companies are focusing aggressively on expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/ technology development. For instance, in June 2024, Workiva introduced a carbon solutions platform to help clients meet increasing climate-risk reporting and global disclosure requirements. The newly established "Workiva Carbon" subsidiary will gather data from companies' management systems and monitor greenhouse gas emissions from their operations. This platform enables businesses to automatically calculate their carbon footprint, covering scope 1, 2, and 3 emissions.

 

Key Players

 

  • ATI IBM Corporation
  • SAP SE
  • Salesforce, Inc.
  • Microsoft
  • Persefoni AI
  • Sphera
  • Greenly
  • Diligent Corporation
  • SINAI Technologies
  • Net0.

 

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Conclusion

 

The carbon accounting software market is set for substantial growth, fueled by heightened awareness of climate change, regulatory pressures, and a strong focus on corporate sustainability. As organizations increasingly adopt advanced technologies and cloud-based solutions, the ability to accurately track and report carbon emissions will become essential. This market will play a critical role in helping businesses meet their environmental goals, driving a significant shift towards sustainability in various industries.

Wednesday, 30 July 2025

Business Intelligence Software Market: Impact of AI and Cloud Adoption

 The global Business Intelligence (BI) software market was valued at USD 36.60 billion in 2023 and is projected to reach USD 86.69 billion by 2030, demonstrating a robust CAGR of 13.7% from 2024 to 2030. This significant growth is fueled by several key factors.

 

Organizations are increasingly leveraging real-time analytics to continuously monitor operations, identify anomalies, seize emerging opportunities, and mitigate risks. BI tools equipped with such capabilities are vital for businesses to remain competitive and adapt swiftly to market dynamics and customer demands. Furthermore, these tools enhance users' understanding of current business trends through thorough data analysis.

 

Modern BI solutions are evolving with the integration of AI and machine learning, offering advanced analytical functions like predictive and prescriptive analytics. These technologies empower businesses to forecast future outcomes and recommend actions for optimized results. A notable example is Databricks' AI-powered BI product, launched in June 2024, which aims to democratize data-driven decision-making within organizations through interactive dashboards and a conversational interface called Genie. The adoption of cloud-based BI solutions is also a major driver, providing scalability, flexibility, and cost-effectiveness, making advanced analytics accessible to businesses of all sizes without substantial infrastructure investments.

 

The ongoing surge in digitalization means businesses are generating immense volumes of data from various sources, including customer interactions, transactions, social media, and IoT sensors. This proliferation of data necessitates powerful BI solutions to effectively manage, analyze, and extract actionable insights, thus boosting the demand for BI software.

 

Key Market Trends & Insights

 

  • North America led the business intelligence software market in 2023, accounting for a 37.8% revenue share. This dominance is attributed to the region's widespread high-speed internet, cloud computing resources, and modern IT infrastructure, which facilitate the efficient deployment and integration of BI tools.

  • By enterprise size, the large enterprise segment held the largest market share in 2023. Large corporations extensively utilize BI software to enhance both internal and external business processes, driven by the need for advanced analytical engines and real-time data compilation tools to handle continuously increasing data volumes and user bases.

  • Regarding BI technology, cloud BI technology dominated the market in 2023, with a 52.5% market share. Cloud BI solutions offer businesses the flexibility to scale data processing and analytics capabilities as needed, without significant hardware investments, enabling organizations of various sizes to access advanced BI tools and adapt quickly.

  • Based on function, the executive management segment accounted for the largest market share in 2023. BI software empowers executives with data-driven insights to identify inefficiencies, discover new business opportunities, predict future trends, and foster organizational change and innovation.

  • By deployment, the cloud segment held the largest market share in 2023. Cloud deployment enhances accessibility, allowing users to access BI tools and data remotely, which is crucial given the increasing trend towards remote work and global teams, fostering collaboration through real-time insights and dashboards.

 

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

 

Market Size & Forecast

 

  • 2023 Market Size: USD 36.60 Billion
  • 2030 Projected Market Size: USD 86.69 Billion
  • CAGR (2024-2030): 13.7%
  • North America: Largest market in 2023
  • Asia Pacific: Fastest growing market

 

Key Companies & Market Share Insights

 

Major companies in the business intelligence software market are actively expanding their global presence and launching new varieties of features and analytical capabilities to gain a competitive advantage. Some of the key players include IBM, Microsoft, Tableau Software, LLC (Salesforce, Inc.), Oracle, Sisense Ltd, Yellowfin International Pty Ltd, QlikTech International AB, SAP SE, Board International, and MicroStrategy Incorporated.

 

  • IBM Corporation offers a diverse portfolio including cloud computing, artificial intelligence (AI), and analytics solutions across various industries like finance, healthcare, and manufacturing. 
  • Microsoft Corporation provides comprehensive products and services, including the Windows operating system, Microsoft Office suite, and Azure cloud platform. Their Microsoft 365 integrates productivity tools with AI-powered analytics.

 

Key Players

 

  • IBM Corporation
  • Microsoft
  • Tableau Software, LLC (Salesforce, Inc.)
  • Oracle
  • Sisense Ltd
  • Yellowfin International Pty Ltd (Yellowfin)
  • QlikTech International AB,
  • SAP SE
  • Board International
  • MicroStrategy Incorporated.

 

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Conclusion

 

The global business intelligence software market is experiencing robust growth, propelled by the increasing demand for data-driven decision-making, the widespread adoption of real-time analytics, and the integration of advanced technologies like AI and machine learning. The shift towards cloud-based solutions is further democratizing access to powerful BI tools, enabling businesses of all sizes to manage vast amounts of digital data effectively. With North America currently leading the market and large enterprises driving significant adoption, the industry is set for continued expansion as organizations increasingly rely on BI software to gain competitive advantages, optimize operations, and predict future trends.

 

Wednesday, 23 July 2025

Automation Testing Market: Post-Pandemic Recovery and Growth Projections

 The global automation testing market was valued at USD 25.43 billion in 2022 and is projected to grow significantly, reaching USD 92.45 billion by 2030. This growth reflects a compound annual growth rate (CAGR) of 17.3% from 2023 to 2030. The increasing adoption of advanced testing approaches such as DevOps and Agile methodologies is a key driver of this expansion. These practices reduce automation analysis time and enable faster time-to-market for software products.

 

As businesses continue to rely heavily on mobile applications, the fast-paced digital transformation across various industries is creating a pressing need for automation testing. Additionally, evolving workplace dynamics are further contributing to market growth.

 

The integration of artificial intelligence (AI) and machine learning (ML) is accelerating the shift toward automation testing. AI reduces the test lifecycle and is now applied across all testing types—including functional, regression, performance, and automation testing. The increasing adoption of cloud-based automation tools is also fueling growth. These platforms are cost-effective, scalable, and flexible, making them especially appealing to small and medium-sized enterprises (SMEs) and startups. Furthermore, AI and ML integration is simplifying cloud-based automation testing solutions, driving further adoption.

 

Key Market Trends & Insights

 

  • North America led the market in 2022, accounting for 39% of total revenue. The region's strong presence of technology vendors and the growing popularity of smart consumer devices—such as TVs, laptops, and home appliances—are boosting demand for automation testing. These devices are deeply connected with software, web applications, and operating systems.
  • By component, the service segment held the largest market share, contributing over 56% of revenue in 2022. Implementation services played a major role, helping businesses integrate automation testing into existing infrastructures with ease.
  • By organization size, large enterprises dominated the market, holding over 68% of the revenue share in 2022. These organizations rely on automation testing to handle complex systems, numerous applications, and extensive test cases—enhancing test efficiency, reducing manual work, and ensuring software quality.
  • By industry vertical, the BFSI (Banking, Financial Services, and Insurance) segment held more than 15% of the market in 2022. The push toward digitalization within the BFSI sector has increased demand for automation testing of sophisticated and mission-critical applications. These systems require frequent updates to stay aligned with evolving technological requirements.

 

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

 

Market Size & Forecast

 

  • 2022 Market Size: USD 25.43 Billion
  • 2030 Projected Market Size: USD 92.45 Billion
  • CAGR (2023-2030): 17.3%
  • North America: Largest market in 2022

 

Key Companies & Market Share Insights

 

Major players in the market are pursuing strategies such as product innovation, mergers and acquisitions, partnerships, and geographic expansion to boost market share. For instance, in June 2023, Keysight Technologies, Inc. expanded its autonomous driving validation test portfolio by launching the E8717A Lidar Target Simulator (LTS). This innovation helps automotive OEMs and lidar sensor manufacturers test and certify their lidar systems for autonomous vehicles.

 

Key Players

 

  • IBM Corporation
  • Apexon
  • Accenture
  • Cigniti Technologies
  • Capgemini SE
  • Microsoft
  • Tricentis
  • Keysight technologies
  • Sauce Labs
  • Parasoft

 

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Conclusion

 

The global automation testing market is experiencing robust growth, driven by rapid digitalization, the adoption of AI and ML, and the increasing need for agile and efficient software development practices. North America continues to lead the market, with large enterprises and sectors like BFSI significantly contributing to demand. As cloud-based and AI-enhanced automation tools become more accessible, the market is expected to grow further, offering substantial opportunities for both established players and emerging startups through 2030.

Tuesday, 22 July 2025

Artificial Intelligence In Marketing Market - Impact on Consumer Engagement Strategies

 The global artificial intelligence in marketing market was valued at USD 20.44 billion in 2024 and is projected to reach USD 82.23 billion by 2030, growing at a compound annual growth rate (CAGR) of 25.0% from 2025 to 2030. The primary factors driving this growth include the increasing adoption of machine learning and AI, the rising popularity of social networking platforms, enhanced personalized consumer experiences, and the surge in online shopping.


For example, Google Responsive Search Ads, a text ad format within Google Ads, allows advertisers to create multiple headlines and descriptions for a single ad. This feature enables entrepreneurs to tailor their advertisements based on geographic location, budget, and other criteria.


AI plays a crucial role in helping marketers better target and segment audiences, delivering more personalized experiences. Its applications span various industries, including automotive, insurance, finance, retail, and healthcare. AI is set to enhance the effectiveness and efficiency of advertising through precise audience targeting and automation of ad creation and delivery. For instance, IBM Watson uses AI to help retail businesses create personalized shopping experiences by leveraging real-time data to reflect a customer's current purchasing behavior.


Key Market Trends & Insights


• North America: This region dominates the AI in marketing market with the highest revenue share of 32.4% in 2024.
• U.S. Military: Rapid integration of AI into military operations is ongoing to maintain a strategic edge over competitors such as China.
• Component Segmentation: The services segment leads the market with a revenue share of 59.3% in 2024.
• Application Segmentation: Content curation holds the largest revenue share within the market in 2024.
• End User Segmentation: The media and entertainment segment commands a significant revenue share in 2024.


Market Size & Forecast


• 2024 Market Size: USD 20.44 Billion
• 2030 Projected Market Size: USD 82.23 Billion
• CAGR (2025-2030): 25.0%
• North America: Largest market in 2024
• Asia Pacific: Fastest-growing market

 

For further insights, consider ordering a free sample PDF of the Artificial Intelligence In Marketing Market Intelligence Study published by Grand View Research.

 

Key Companies & Market Share Insights


The market exhibits strong competition, with a few major global players holding significant market shares. The focus is on developing new products and fostering collaborations among key players.

  • Intel Corporation is a leading technology company with over 120,300 employees focused on shaping the future through innovative computing and connectivity solutions. The company emphasizes AI as a core element of its marketing strategies and product development. By shifting from a PC-centric to a data-centric model, Intel aims to provide comprehensive solutions leveraging AI across various sectors, including edge computing and autonomous driving.

  • Microsoft leads in integrating AI into marketing with tools like Microsoft Copilot, which enhances productivity and creativity. The company is committed to expanding opportunities while leveraging AI to address accessibility challenges and create engaging content, collaborating with artists like Laufey. Microsoft’s focus on sustainability and diversity aims to empower users with AI-driven solutions that foster innovation and inclusivity in marketing and beyond.


Key Players


• Amazon.com, Inc.
• Baidu, Inc.
• Google LLC
• Intel Corporation
• International Business Machines Corporation (IBM)
• Microsoft Corporation
• NVIDIA Corporation
• Oracle Corporation
• Salesforce, Inc.
• Twitter, Inc.

 

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Friday, 18 July 2025

AI Training Dataset Market Opportunities: Focus on Multimodal and Domain-Specific Data

 The global AI training dataset market was valued at USD 2.60 billion in 2024 and is projected to reach USD 8.60 billion by 2030, expanding at a CAGR of 21.9% from 2025 to 2030. This rapid growth is primarily fueled by the increasing demand for high-quality data to train machine learning (ML) models effectively.

 

Organizations across various sectors are recognizing the critical role that well-structured and accurately labeled datasets play in enhancing the performance and precision of AI models. The rising need for diverse and representative data is contributing significantly to market expansion, as companies rely on both public and proprietary datasets to strengthen their AI initiatives. With the widespread adoption of AI-powered applications, the volume and complexity of training data requirements have escalated. As AI technology continues to advance, the emphasis on data quality, accuracy, and inclusiveness becomes even more essential.

 

The AI training dataset industry is attracting substantial investments in data collection, annotation, and management solutions. Providers are leveraging cutting-edge technologies such as crowdsourcing, automated labeling, and synthetic data generation to meet growing industry needs. Since machine learning models demand large volumes of accurately labeled data for optimal performance, a thriving ecosystem of data providers and annotation specialists has emerged. Moreover, the increasing reliance on AI across domains like healthcare, finance, and automotive is pushing businesses to prioritize the acquisition of high-quality, specialized datasets tailored to niche use cases and underrepresented languages. This ensures not only performance and scalability but also promotes ethical and unbiased AI systems.

 

Key Market Trends & Insights

 

  • North America dominated the global AI training dataset market with a 35.8% share in 2024. The region's leadership is driven by extensive investments in AI infrastructure and R&D. Companies in healthcare, finance, retail, and other sectors are increasingly using curated datasets to train sophisticated AI models, accelerating adoption and innovation.
  • By type, the Image/Video segment held the largest market share at 41.0% in 2024. This dominance is linked to the widespread use of image and video data in computer vision applications, including facial recognition, object detection, and surveillance. Industries such as retail, security, and entertainment heavily depend on labeled visual datasets to enhance user experiences and operational capabilities.
  • By vertical, the IT sector led the market in 2024, driven by the pervasive integration of AI in IT operations. Data derived from IT systems—such as cybersecurity logs, network traffic, and user interactions—is frequently used to train models for automation, anomaly detection, and predictive analytics. The vast amount of structured and unstructured data generated within IT ecosystems positions this vertical as a cornerstone for AI model training.

 

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

 

Market Size & Forecast

 

  • 2024 Market Size: USD 2.60 Billion
  • 2030 Projected Market Size: USD 8.60 Billion
  • CAGR (2025-2030): 21.9%
  • Leading Region (2024): North America

 

Key Companies & Market Share Insights

 

Leading participants in the AI training dataset market include Google LLC (Kaggle), Appen Limited, Cogito Tech LLC, Lionbridge Technologies, Inc., and Amazon Web Services, Inc. These companies are pursuing strategies such as partnerships, mergers, and acquisitions to expand market presence and enhance service offerings.

 

  • Amazon Web Services (AWS) provides a comprehensive suite of cloud-based tools that support data processing, labeling, and model training. AWS’s SageMaker platform enables users to label data, build ML models, and deploy AI solutions at scale. With its robust infrastructure and industry-specific tools, AWS supports large-scale dataset management across sectors like healthcare, retail, and financial services.

  • Google LLC plays a key role in this market through platforms like TensorFlow, Google Cloud AI, and Kaggle. Kaggle offers a collaborative environment for sharing datasets, building models, and hosting competitions, fostering community-driven innovation. Google also curates domain-specific datasets for use in areas such as natural language processing (NLP), speech recognition, and computer vision, contributing to the advancement of responsible AI development.

 

Key Players

 

  • Alegion
  • Amazon Web Services, Inc.
  • Appen Limited
  • Cogito Tech LLC
  • Deep Vision Data
  • Google, LLC (Kaggle)
  • Lionbridge Technologies, Inc.
  • Microsoft Corporation
  • Samasource Inc.
  • Scale AI Inc.

 

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Conclusion

 

The AI training dataset market is witnessing exponential growth, driven by the escalating need for accurate, diverse, and ethically sourced data to power next-generation AI applications. As organizations increasingly adopt AI across industries—from IT and healthcare to retail and finance—the demand for specialized, high-quality datasets continues to rise. The North American region remains at the forefront due to strong technological infrastructure and investment in AI research. With rapid advancements in automation, data annotation, and synthetic data generation, the market is set to play a foundational role in shaping the future of artificial intelligence. Strategic collaborations and innovations by leading companies are further accelerating market development, making AI training datasets a critical enabler of global digital transformation.

Wednesday, 16 July 2025

AI-Based Climate Modelling Market: The Role of Machine Learning in Climate Science

 The global AI-based climate modelling market was valued at approximately USD 343.2 million in 2024 and is projected to reach USD 1,992.1 million by 2033, reflecting a compound annual growth rate (CAGR) of 21.9% from 2025 to 2033. This growth is expected to be significantly driven by the increasing demand for AI technologies that enhance the accuracy of forecasting climate events such as heatwaves, droughts, and cyclones. These advancements enable timely actions that protect human and animal lives while conserving Earth's resources.

 

AI's ability to analyze real-time data plays a crucial role in tracking climate-related changes, which can occur at any time and in any location. The growth of the AI-based climate modelling industry is primarily attributed to its capacity to handle, comprehend, and analyze vast and complex datasets from various sources, including satellites, Internet of Things (IoT) sensors, and historical climate records. AI detects subtle patterns and nonlinear relationships that traditional models might overlook, resulting in more accurate and detailed climate forecasts. By automating data collection and seamlessly integrating diverse data streams in real time, AI enhances climate risk analysis and improves predictions of extreme weather events, such as hurricanes, floods, and heatwaves.

 

Another key factor driving market growth is AI's ability to model subgrid-scale processes and address biases present in traditional climate simulations. AI-enhanced parameterizations and hybrid methods that combine physical principles with data-driven insights improve the realism and accuracy of these models. Moreover, artificial intelligence enhances computer efficiency through substitute modeling and optimization, allowing for quicker climate testing and more effective climate risk management.

 

Key Market Trends & Insights

  • North America led the AI-based climate modelling industry with a revenue share exceeding 40.5% in 2024, fueled by its robust technological ecosystem and strong governmental support and initiatives that foster innovation and large-scale implementation of AI software.

  • The U.S. AI-based climate modelling sector is anticipated to experience significant growth in 2024, leveraging updated data analytics and real-time inputs from satellites, IoT sensors, and weather stations to enhance forecast accuracy and reduce delays, particularly for extreme events such as hurricanes and wildfires.

  • In terms of components, the software segment dominated the AI-based climate modelling market in 2024, capturing a revenue share of 70.7%. This dominance is attributed to the increasing demand for advanced AI tools that provide real-time, high-resolution climate forecasts by integrating large and diverse environmental datasets.

  • By application, the weather forecasting segment represented the largest revenue share within the AI-based climate modelling industry in 2024. This growth is driven by the segment's capability to rapidly process extensive and varied meteorological data from satellites, radar, and ground-based sensors, enabling precise and localized short- to medium-term forecasts.

  • Regarding technology, the machine learning segment held the largest revenue share in the AI-based climate modelling industry in 2024. This is due to its proficiency in processing large and diverse datasets to identify climate signals, allowing for accurate and real-time climate predictions. 

 

Order a free sample PDF of the AI-Based Climate Modelling Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast


• 2024 Market Size: USD 343.2 Million
• 2033 Projected Market Size: USD 1,992.1 Million
• CAGR (2025-2033): 21.9%
• North America: Largest market in 2024

 

Key Insights into AI-Based Climate Modelling Companies


Several key players in the AI-based climate modelling industry include AccuWeather, Realeyes, Microsoft, IBM, and Tobii.

  • AccuWeather specializes in weather intelligence by combining advanced technology, extensive data, and expert analysis to provide highly accurate forecasts and climate insights to over 1.5 billion users globally. The company utilizes vast weather datasets along with cutting-edge AI and machine learning models, supported by a skilled team of meteorologists. This enables AccuWeather to deliver precise and actionable information. Its AI-powered software assists businesses and governments in managing climate risks, enhancing operational efficiency, and improving safety by integrating real-time weather data with analytics on scalable platforms like Databricks and Snowflake.

  • NVIDIA is leading the way in AI-based climate modeling innovation with its Earth-2 platform, which integrates AI, GPU acceleration, and physical simulations to produce high-resolution, energy-efficient climate and weather forecasts at exceptional speed and scale. Utilizing generative AI models like CorrDiff, Earth-2 creates climate simulations that are 12.5 times more detailed and thousands of times faster than traditional models, facilitating rapid and interactive forecasting and visualization. NVIDIA's collaborations with organizations such as G42 and major climate research institutions underscore its commitment to advancing climate science through AI, aiming to mitigate economic losses and support sustainable, data-driven decision-making worldwide.

 

Key Players

 

  • IBM
  • Google
  • Microsoft
  • AWS
  • NVIDIA Corporation
  • AccuWeather
  • ClimateAI
  • Atmos AI
  • Open Climate Fix
  • Meteomatics AG

 

Conclusion

 

The AI-based climate modelling market is poised for substantial growth, driven by the increasing demand for accurate climate forecasting and real-time data analysis. As AI technologies continue to evolve, they will play a pivotal role in enhancing our understanding of climate dynamics and improving our ability to respond to extreme weather events. This market not only offers significant opportunities for technological advancement but also contributes to global efforts in climate resilience and sustainability, ensuring that we can better protect both human and environmental health in the face of climate change.

 

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Friday, 6 December 2024

Customer Experience Management Market in Retail: Enhancing Customer Journeys

  

The global customer experience management market size is expected to reach USD 32.87 billion by 2030, registering a CAGR of 15.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Customer experience management (CEM) solutions are gaining widespread popularity in diverse industries. As businesses become more customer-centric, the market is expected to witness rapid growth over the forecast period. Ongoing trends such as hyper-personalization of customer service, the use of AI & automation, and various customer value models are the key attributes propelling the growth. Moreover, implementing robust social media customer service can help reduce costs, increase response times, improve customer satisfaction, and increase the adoption of the CEM platform across industries. Thus, driving industry growth.

 

Gather more insights about the market drivers, restrains and growth of the Global Customer Experience Management Market

 

As working from home becomes more common, facilitated by video conferencing, digital transformation of the customer and employee experience will be critical for growth. Remote working frequently leads to higher Employee Satisfaction (E-SAT), which leads to higher overall Customer Satisfaction (C-SAT). A remote workforce allows an organization to hire the best talent from all over the world, which improves both the local and global customer experiences. Organizations that want to keep their customer experience scope onshore/nearshore could benefit from a right-shored work-at-home model rather than an offshore-only model. These developments would further drive industry growth.

 

Organizations have implemented new business models to broaden their customer reach and improve the end-user experience. Organizations are also working to improve their ability to adapt to changing customer expectations as well as market conditions. Several industries and industry verticals are expanding their customer reach by utilizing various e-commerce models, such as e-retail, direct-to-customer (D2C), marketplace, and social commerce. For instance, Oracle Corp., a software company, provides Oracle Commerce, a unified B2C and B2B e-commerce platform. The solution uses interactive dashboards and data visualizations and takes real-time insights from every customer engagement.

 

Customer Experience Management Market Segments Highlights:


• The speech analytics segment is expected to witness a CAGR of 18.4% from 2024 to 2030. Through the calls, they assist enterprises in identifying the areas of trends, opportunities, and concerns. Speech analytics tools in contact centers help improve agent performance, monitor compliance, streamline business processes, improve first-call resolution, and improve customer experience

• The web services segment is anticipated to grow at a CAGR of 17.4% from 2024 to 2030. CX web services provide the tools and expertise to measure, analyze, and improve customer interactions, leading to a strong ROI for businesses. Moreover, the rise of cloud-based Software as a Service (SaaS) offerings has made CX web services more accessible and affordable for businesses of all sizes

• The cloud segment is anticipated to grow at a CAGR of 18.3% from 2024 to 2030. The cloud deployment model enables enterprises to purchase only the features, added applications, or updated versions of the software, based on the pay-as-you-go subscription model. On account of these benefits, large enterprises are gradually investing in CEM software and collaborating with technology providers for digital transformation

• The BFSI segment is anticipated to register the highest CAGR of 17.1% from 2024 to 2030 owing to the increasing adoption of cloud-based deployment models and investments in advanced technologies to offer digital finance management assistance

• The Asia Pacific regional market is expected to register the highest CAGR of 17.5% from 2024 to 2030 due to a strong presence of call centers, an increasing trend of social media marketing, and a growing emphasis on customer satisfaction across industries & sectors

 

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


Segments Covered in the Report

 

Grand View Research has segmented the global customer experience management market based on analytical tools, touch point type, deployment, organization size, end-use, and region:

 

Customer Experience Management (CEM) Analytical Tools Outlook (Revenue; USD Billion, 2018 - 2030)

  • EFM Software

  • Speech Analytics

  • Text Analytics

  • Web Analytics & Content Management

  • Others

 

Customer Experience Management (CEM) Touch Point Type Outlook (Revenue; USD Billion, 2018 - 2030)

  • Stores/Branches

  • Call Centers

  • Social Media Platform

  • Email

  • Mobile

  • Web Services

  • Others

 

Customer Experience Management (CEM) Deployment Outlook (Revenue; USD Billion, 2018 - 2030)

  • Cloud

  • On-premises

 

Customer Experience Management (CEM) Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Large Enterprises

  • Small and Medium Enterprises

 

Customer Experience Management (CEM) End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • Retail

  • Healthcare

  • IT & Telecom

  • Manufacturing

  • Government, Energy & Utilities

  • Construction, Real Estate & Property Management

  • Service Business

  • Others

 

Customer Experience Management (CEM) Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • New Zealand

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

    • UAE

    • KSA

    • South Africa