Mobile Virtual Network Operator Market To Rise Up, AS offering Their Services At Cheap Prices To Attract A New Customer Base

 

 

 

 

Mobile Virtual Network Operator Industry Overview

 

The global mobile virtual network operator market size is expected to reach USD 109.9 billion by 2027, registering a CAGR of 7.6% from 2020 to 2027, according to a new report by Grand View Research, Inc. The growing demand for data services and increasing number of mobile users across the globe is expected to drive the market. In addition, the increasing number of services such as cloud, Machine to Machine (M2M), and mobile money are further expected to drive demand for mobile virtual network operators over the forecast period.

 

The growing demand to access mobile applications, social media, and multimedia services is further expected to propel the growth of the market over the forecast period. The declining prices of smartphones are contributing to the accelerating subscriber penetration across the globe is expected to fuel the growth of the market. Furthermore, increasing partnerships formed by key players for providing high-speed data services to consumers is anticipated to drive market growth over the forecast period.

 

Mobile Virtual Network Operator Market Segmentation

Grand View Research has segmented the global mobile virtual network operator market on the basis of type, operational model, end use, and region:

 

Based on the Type Insights, the market is segmented into Business, Discount, M2M, Media, Migrant, Retail, Roaming, Telecom.

• The market is expected to witness significant growth in the M2M market due to the increasing adoption of cellular connectivity in machines ranging from vehicles to vending machines.
• Technical advancements in the 3G M2M market, an extension of mobile network coverage, and initiatives by MNOs to expand their service offerings are the key factors supporting the growth of MVNOs in the M2M market.
• There has been a significant increase in the number of MNOs collaborating with M2M application service providers, which is expected to drive the demand for mobile network element deployment in M2M applications over the forecast period.
• MNOs offer various service plans and products for different markets having fewer users, which leads to expensive and inefficient operational and business support systems. The cost associated with retaining and acquiring new customers is relatively high, mainly for fixed term contracts.
• The mobile virtual network operators can help in overcoming cost issues, optimizing resource allocation, and improving the Quality of Service (QoS). This, in turn, would contribute to the growth of the market for mobile virtual network operators.

 

Based on the End-use Insights, the market is segmented into Consumer, Enterprise.

• The consumer segment dominated the market for mobile virtual network operators in 2019 and is expected to maintain its dominance over the forecast period.
• The mobile virtual network operator model offers benefits such as time efficiency and cost-effectiveness, which is expected to lure more consumers, in turn, accelerating the growth of the consumer segment.
• Managing connected living, personal data, and rising e-commerce activities is also anticipated to provide significant growth opportunities for key players operating in the market for mobile virtual network operators along with increasing consumer benefits.
• The mobile virtual network operators model is shifting from voice to a more data-centric experience. MVNOs across the globe are looking for data-capable smartphones as a way to expand their businesses.

 

Based on the Operational Model Insights, the market is segmented into Full MVNO, Reseller MVNO, Service Provider MVNO.

• The full MVNO segment dominated the market for mobile virtual network operators in terms of revenue in 2019. Implementation of full MVNO network infrastructure requires low capital investment and gives full call control, which allows customers to call internationally at highly discounted rates.
• The emergence of mobile virtual network operator is the result of regulatory interventions to lower the barriers for entry and eventually increase competition and strategic decisions undertaken by MNOs.
• MNOs have their own mobile licenses, infrastructure, and customer relationships with their end users and are capable of handling network routing. They generally have roaming deals with foreign counterparts.
• They are aiming at capitalizing opportunities related to roaming services by providing special services to tourists and youth. MVNOs aid in increasing revenue for MNOs by providing wholesale deals, increasing network utilization, and creating their MVNO’s by launching sub-brands.

 

Mobile Virtual Network Operator Regional Outlook

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

 

Key Companies Profile & Market Share Insights

Industry players are also adopting various strategic initiatives such as partnerships, mergers and acquisitions, collaborating with other firms for gaining a competitive edge and deploying better services to their customers.

Some prominent players in the global mobile virtual network operator market include

• Lebara Group
• Lyca Mobile
• TalkTalk Group
• Giffgaff
• Poste Mobile SpA
• Virgin Mobile
• TracFone Wireless Inc.

 

Order a free sample PDF of the Mobile Virtual Network Operator Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Eye Tracking Market To Forsee Commendable Growth, Based On Rising Demand For Contactless Biometrics Coupled With The Growing Adoption Of AI, VR, And AR

  

Eye Tracking Industry Overview

 

The global eye tracking market size is expected to reach USD 8.06 billion by 2030, registering a CAGR of 33.4% over the forecast period, according to a new report by Grand View Research, Inc. Vision capturing systems determine the duration and the exact location of the user’s visual attention. The system includes recording the pupil movement, determining the fixation point and duration, processing the data & images, and filtering the relevant data using software algorithms. The filtered data can be analyzed and used for various applications in the automotive, consumer electronics, healthcare, and retail industries. Eye movement detection is one of the most important features integrated into VR headsets. In July 2016, Fove, Inc. launched its eye-tracking VR headset to directly incorporate the eye-tracking sensors into the headset to monitor the user’s gaze.

 

Eye Tracking Market Segmentation

Grand View Research has segmented the global eye tracking market report based on type, component, location, application, and region:

 

Based on the Type Insights, the market is segmented into eye attached tracking, optical tracking and electrooculography

• The optical tracking segment led the market with a revenue share of more than 52.00% in 2021. Arise in demand for optical tracking systems in VR and AR is because the optical tracking system can capture both active and passive motion of a full body, which enables Virtual Reality(VR ) to gather additional information about the participant’s position.
• The optical tracking system does not require the attachment of wires or anything else to the object being monitored. There is no requirement for a physical connection between the tracked object and the real environment.
• Optical tracking also enables many entities to be tracked at the same time.
• The eye-attached tracking sub-segment is expected to grow at the fastest CAGR from 2022 to 2030.
• Eye-attached capturing devices are similar to contact lenses embedded with magnetic or mirror sensors, which can keep tracing the vision irrespective of the head movement. It can track visual movement in vertical, torsion, and horizontal directions.
• An eye-attached vision capturing system would be particularly ideal for the healthcare, research, retail, and consumer electronics sectors, as vision capturing remains uninterrupted even if the user moves his head slightly or sets in motion.
• Electrooculography (EOG) technique can detect and track vision movement through electric signals obtained from contact electrodes placed on the skin around the eyes.
• The EOG technique allows tracking vision in darkness or even when the eyes are closed. The method is beneficial in researching human behavior during sleep.
• The sight gaze detection capability of the EOG system is not as accurate as of the optical tracking system, which envisages using infrared technology to detect gazing.

 

Based on the Components Insights, the market is segmented into hardware and software

• The hardware segment dominated the market with a revenue share of 60.01% in 2021. The software segment is estimated to grow at the fastest CAGR over the forecast period.
• Hardware and software components of the vision capturing system vary according to the properties of the tracker.
• In the case of eye-attached tracking, the hardware components include a head-mount vision capturing system with cameras and sensors, an eye-tracking glass or lenses, and an external or internal storage device for recording and storing the data captured by the vision trackers.
• Software is integrated within a remote desktop that receives the data from the head-mounted system.
• In the case of optical capturing or video-based trackers, the hardware components are similar to the eye-attached tracing system. They comprise the Eye Tracking Device (ETD), including a desktop, an external or internal storage device, a camera for recording the visual movement & gaze point, and optical sensors for detecting & tracking the visible movement.
• However, the software is integrated within the ETD for processing and analyzing the data captured by the cameras and sensors. For instance, in August 2020, SR research launched EyeLink 1000 plus, which has a high-speed camera and is capable of recording eye movements at up to 2000 frames per second.
• This allows researchers to obtain high-quality eye-tracking data in various environments. After data filtration and processing, results derived from analytical tools are used for various purposes.
• In the automotive sector, the analyzed data is used for enhancing the Human Machine Interface (HMI) system and other purposes, such as alerting the driver for being inattentive while driving.

 

Based on the Location Insights, the market is segmented into remote and mobile

• The remote segment led the market with a revenue share of more than 62.00% in 2021. In remote/screen-based vision tracking, the respondents have to be in front of the ETD in a stationary position.
• However, mobile vision trackers are head-mounted to the respondents to capture the vision movement continuously, irrespective of the respondents moving their heads or being in motion.
• A remote sight capturing system is deployed to analyze respondents’ behavior or observe an object from a 2-dimensional perspective and may require an advanced setup for a 3-dimensional study.
• Mobile trackers are deployed when the respondents need to be free to make movements, for example, while studying the consumer behavior or when the object needs to be observed from a 3-dimensional perspective.
• The remote tracker system sub-segment accounted for a larger revenue share in 2021 and is projected to continue dominating the market over the forecast period.
• The mobile tracking system sub-segment, on the other hand, is anticipated to grow at the fastest CAGR from 2022 to 2030, particularly due to the growing adoption of vision tracing technology in commercial applications.

 

Based on the Application Insights, the market is segmented into healthcare, retail, research, automotive, consumer electronics and others

• The healthcare segment dominated the market with a revenue share of more than 25.00% in 2021. The initial adoption of gaze capturing in healthcare was limited to a computer interface for patients suffering from mobility disabilities and other communication issues.
• Technology is increasingly being adopted as an input mechanism in consumer electronics and gaming devices. By application, the market has been divided into healthcare, retail, research, automotive, consumer electronics, and others.
• The others sub-segment includes the use of vision tracing systems by the government and the defense sector.
• Eye-tracking is playing a significant role in the development of the automotive sector. With the increasing demand for automotive vehicles and Artificial Intelligence(AI) applications in the automotive sector, the demand for eye tracking is also increasing.
• Eye-tracking has become a key DMS technology that has replaced traditional approaches over time, and the reason is this technology allows eyelid movement analysis and gaze direction.
• There is also increased demand for eye-tracking devices in the retail FMCG sector. Eye-tracking devices and their algorithms are used to understand consumer behavior at retail stores.
• The algorithms help determine what product layout is most likely to prompt a purchase at a store, how long a customer spends browsing a product, and what packaging gives the most product information for the customer’s benefit.
• The consumer electronics sub-segment is expected to grow at a considerable CAGR over the forecast period.
• The sub-segment is projected to witness the fastest growth in the Asia Pacific region, with Japan, China, and India, being the most dominant markets.
• Game designers leverage the vision gaze technology to enhance the User Interface (UI) design and provide smarter modes of UI modalities and gameplay interaction sensitive to the user’s mood and behavior.
• In the automotive industry, ETDs alert the driver of inattentiveness while driving to prevent road accidents.
• In the healthcare sector, eye tracking systems are being used by surgeons as hands-free controls to communicate using sight movement through the HMI platform.

 

Eye Tracking Regional Outlook

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

 

Key Companies Profile & Market Share Insights

Most of the market players adhere to mergers & acquisitions to address the challenges associated with in-house R&D and enhance their product portfolios.

Some of the prominent players in the global eye tracking market include:

• Tobii AB
• SR Research Ltd.
• iMotions A/S
• Gazepoint Research Inc.
• EyeTech Digital Systems, Inc.
• EyeTracking, Inc.
• Mirametrix Inc.
• Seeing Machines Ltd.
• Smart Eye AB
• LC Technologies, Inc.

 

Market Industry Development

• April 2021: Tobii collaborated with NVIDIA to enhance VR image quality in VRSS2. After the integration, the company launched the HP Reverb G2 omnicept edition of HP’s VR headset, and the headset has both Tobii Eye Tracking and NVIDIA VRSS 2.
• August 2017: Microsoft Corp. and Tobii AB entered into a strategic partnership to jointly release a product called ‘Eye Control,’ a featured in-box experience leveraging vision gaze supported by Windows 10.
• May 2017: Tobii Pro, the research wing of Tobii AB, acquired Sticky, a company offering a cloud-based solution that enables large-scale market research studies using webcam vision capturing. 

 

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

Digital Payment Market Is Developing Rapidly, Due To Worldwide Increase In Customer Preference For Real-Time Payments

  

Digital Payment Industry Overview

 

The global digital payment market size is expected to reach USD 361.30 billion by 2030, expanding at a CAGR of 20.5% over the forecast period, according to a new report by Grand View Research, Inc. The market growth can be attributed to the growing volume of cashless transactions worldwide. According to PwC, a consulting company, the global volume of cashless payments is expected to increase by more than 80% between 2020 and 2025, to nearly 1.9 trillion by 2025 from nearly 1 trillion transactions in 2020. The rising demand for digital payments has encouraged several smartwatch providers to introduce enhanced smartwatches capable of making contactless payments.

 

Digital Payment Market Segmentation

Grand View Research has segmented the global digital payment market report based on solution, mode of payment, deployment, enterprise size, deployment, end use, and region:

 

Based on the Solution Insights, the market is segmented into application program interface, payment gateway, payment processing, payment security & fraud management, transaction risk management and others

• The payment processing segment dominated the market in 2021 and accounted for more than 25.5% share of the global revenue.
• The increasing preference for online shopping across the globe is prompting retailers to adopt payment processing solutions to provide customers with seamless checkout experiences.
• Players providing payment processing solutions focus on mergers and acquisitions and partnerships to strengthen their market presence. For instance, in October 2021, PXP Financial Inc., a payment processing service provider, announced its partnership with Shift4, a payment processing solution provider.
• Through this partnership, the former company expanded its capabilities in the U.S. market. The payment gateway segment is anticipated to grow at the fastest CAGR over the forecast period.
• Payment gateway solutions are in demand among merchants as they enable convenient payment.
• Furthermore, payment gateways are used for in-store payments to allow customers to make payments via smartphones and the internet. Thus, the growing adoption of payment gateways among the in-store retail shops drive the segment growth.

 

Based on the Mode of Payment Insights, the market is segmented into bank cards, digital currencies, digital wallets, net banking, point of sales and others

• The point of sales segment dominated the market in 2021 and accounted for more than 52% share of the global revenue.
• Point of sale systems are used by retail stores for processing transactions. These systems offer benefits, such as fast checkout options, customized customer experience, and multiple payment options.
• Retailers worldwide adopt cloud-based points of sales systems to increase their efficiency and improve service effectiveness.
• The net banking segment is expected to register a significant growth rate over the forecast period.
• The benefits offered by net banking, including improved time efficiency, ease of banking, and activity tracking, are among the major factors driving the segment growth.
• As a result, various countries across the world are witnessing an increase in net banking users. According to the statistics provided by eMarketer, approximately 80% of U.S. internet users accessed their bank accounts digitally in 2020.

 

Based on the Deployment Insights, the market is segmented into cloud and on-premise

• The on-premise segment dominated the market in 2021 and accounted for more than 65.0% share of the global revenue.
• The on-premise deployment of digital payment provides organizations with complete control over applications and systems, which can be easily managed by the organization’s IT staff.
• Moreover, the increased frequency of financial frauds amid the COVID-19 pandemic is also one of the major factors driving the demand for on-premise solutions among organizations.
• According to the statistics provided by Merchant Savvy, a merchant service provider, global payment fraud increased from USD 9.84 billion in 2011 to USD 32.39 billion in 2020; it is projected to reach USD 40.62 billion by 2027, a 25% increase from 2020.
• The cloud segment is anticipated to grow at the highest CAGR over the forecast period. The continued rollout of smart city projects, coupled with the rising number of unmanned retail stores, is one of the major factors driving the growth of the segment.
• Furthermore, efforts taken by payment companies to integrate artificial intelligence features in their payment system are expected to accentuate the segment growth.

 

Based on the Enterprise Size Insights, the market is segmented into large enterprises and small & medium enterprises

• The large enterprise size segment dominated the market in 2021 and accounted for more than 59.0% share of the global revenue.
• Large retail stores increasingly demand digital payment solutions to enable their customers to conduct payments by maintaining social distancing. Digital payment methods, such as smart banking cards, point of sales solutions, and e-wallets, are used by retailers to reduce checkout time.
• Retailers are also focusing on providing innovative payment solutions for customers. For instance, in October 2020, Klarna a financial service provider, announced its partnership with Afterpay, a payment solution provider, to provide Buy Now Pay Later services for online customers.
• The small & medium enterprises segment is anticipated to grow at the fastest CAGR over the forecast period.
• Small & medium enterprises are shifting from paper-based invoicing to digital invoicing as paper-based billing systems are expensive, prone to errors, and inefficient.
• Payment solution providers are focusing on partnerships with small & medium enterprises to support their digitalization journeys.

 

Based on the End-use Insights, the market is segmented into BFSI, healthcare, IT & telecom, media & entertainment, retail & e-commerce, transportation and others

• The Banking, Financial Services and Insurance (BFSI) segment dominated the market in 2021 and accounted for more than 23.0% share of the global revenue.
• The rising demand for digital remittance for cross-border and domestic transactions is encouraging banks to adopt digital payment solutions.
• Moreover, banks are also enhancing their offerings to compete with digital payment solutions providers, such as Google, Amazon, and Facebook. For instance, in June 2019, the Bank of America introduced a digital debit card to offer improved convenience to its clients.
• The retail & e-commerce segment is anticipated to register the fastest growth over the forecast period.
• The growing use of mobile-based payment solutions among customers for retail payments is one of the major factors driving the segment growth.
• At the same time, the rising number of unmanned retail stores worldwide is also driving the market growth.
• According to a study conducted by Televisory, a financial service provider, China’s unmanned retail industry reached USD 503.25 million in 2020.

 

Digital Payment 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. Market players are focused on strategies, such as partnerships, joint ventures, product innovation, research & development, and geographical expansion to strengthen their market positions. Merchants adopt on-premise digital payment solutions due to security-related benefits, such as improved security levels and thereby increased 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.

 

Some of the prominent players in the global digital payment market are:

• Aliant Payments
• Aurus Inc.
• Adyen
• Financial Software & Systems Pvt. Ltd.
• PayPal Holdings Inc.
• Novatti Group Pty Ltd.
• ACI Worldwide, Inc.
• Global Payments Inc.
• Wirecard
• net
• Total System Services, Inc.

 

Market Industry Development

• October 2020: Aliant Payments announced that the CryptoBucks cryptocurrency payment mobile app powered by Aliant Payments has added XRP an open-source independent digital asset to its platform.
• July 2020: ParkMobile, a parking solution provider, announced its partnership with EasyPark, a facilities service provider. Through this partnership, the former company provided contactless payments facility throughout Vancouver city. 

 

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

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Robotic Process Automation Market Is Expected To Boost, Due To Increased Need Of Automate Workflow During The Covid-19 Pandemic

  

Robotic Process Automation Industry Overview

 

The global robotic process automation market size was valued at USD 1.89 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.2% from 2022 to 2030.

 

Factors such as the need to optimize operations to gain improved productivity and generate maximum return, integration of the latest technologies, and changing business processes across enterprises is expected to boost the market growth. Furthermore, during the COVID-19 pandemic, businesses switched to remote work culture, and the need to automate workflow was also increased thus this factor accelerated the market growth. As RPA is becoming mature, it is anticipated to grow increasingly more sophisticated during the forecasted period. Technological advancement such as machine learning, Optical Character Recognition (OCR), and analytics within the RPA domain is potentially creating a demand for intelligent automation systems.

 

As a result, intelligent automation is anticipated to eliminate more than 40% of service desk interactions by 2025. The combination of cognitive RPA and various chatbot technologies would enable unattended modes of automation at the services desk, thereby reducing human interventions and improving operational productivity.

 

Gather more insights about the market drivers, restrains and growth of the Global Robotic Process Automation Market

 

The growing demand for automation of business processes is one of the significant factors influencing the increasing adoption of RPA technology. The core purpose of RPA is to document the activities of an organization for efficient management. Moreover, automated data collection provides seamless data entry & storage and eliminates errors and repetitions. Such practices reduce the time and cost required to rectify the mistakes in data gathering and processing. According to a survey conducted by UiPath (U.S.) in 2020, a global software company for robotic process automation, and The Economist Intelligence Unit (U.K.), a research and analysis division of the Economist Group, 90% of the organizations adopted RPA for automating business processes. In comparison, 73% of the surveyed agreed to be completely satisfied with the benefits resulting from automation.

 

Further, the increased demand to simplify the complex handling process is expected to augment the industry growth. Organizations across several verticals are deploying RPA and AI to increase productivity and efficiency. In a highly competitive market, it has become essential to improve work agility and deliver enhanced customer experiences. RPA robots can perform tasks across different legacy systems to get information on the digital platform. For instance, bank customers can check their account details online and process KYC verification and automatic bill payment along with other functions through the internet. These services have minimized manual involvement and are guiding in delivering a better customer experience.

 

Even though the market is anticipated to grow steadily due to the benefits mentioned above, the reluctance of companies to switch from manual to automated processes is expected to restrain the market growth. Organizations around the globe are looking at deploying RPA solutions to improve business processes. However, lack of understanding about the technology pose a barrier to the adoption of this software. Professional service providers are planning to implement RPA solutions in their organizations within the next two to three years.

 

During the COVID-19 pandemic, businesses switched to remote work culture and increased the need to automate workflow. Thus, significant adoption of RPA for maintaining and automating workflow was witnessed in the year 2020 - 2021. Also, the growing interest of companies in no-code automation platforms has fueled the adoption rate for RPA and has become a part of the automation process for businesses. Furthermore, cloud-based solutions have gained tremendous demand during the pandemic. The cloud automation solutions deliver excellent business value inconsistent deployment, operational cost reductions, and overall resilience and security. It also improves the backend processes in the enterprise workflows.

 

Browse through Grand View Research's IT Services & Applications Industry Research Reports.

• Artificial Intelligence Market - The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing.
• Multiexperience Development Platforms Market - The global multiexperience development platforms market size was valued at USD 6.52 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 18.2% from 2020 to 2027.

 

Robotic Process Automation Market Segmentation

Grand View Research has segmented the global robotic process automation market based on type, deployment, organization, application, and region:

Robotic Process Automation Type Outlook (Revenue, USD Million, 2018 - 2030)

• Software
• Service
  • Consulting
  • Implementing
  • Training

Robotic Process Automation Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• On-premise

Robotic Process Automation Organization Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Robotic Process Automation Application Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• Pharma & Healthcare
• Retail & Consumer Goods
• Information Technology (IT) & Telecom
• Communication and Media & Education
• Manufacturing
• Logistics and Energy & Utilities
• Others

Robotic Process Automation Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Market Share Insights

• October 2021: Walmart uses over 500 bots not only to automate duties like answering employee inquiries or collecting helpful information from audit papers but also to track inventory flow and identify slow-moving commodities and headstock.
• June 2021: Kofax Inc. a U.S. based company acquired PSIGEN Software, Inc., a leading provider of content management, document capture, and workflow automation software and solutions, providing a wide range of solutions and software in the marketplace and augmenting the intelligent automation platform of the company.

 

Key Companies profiled:

Some prominent players in the global robotic process automation market include

• Automation Anywhere
• Blue Prism
• EdgeVerve Systems Ltd.
• FPT Software
• KOFAX, Inc.
• NICE
• NTT Advanced Technology Corp.
• OnviSource, Inc.
• Pegasystems
• UiPath

 

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

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact Center Software Market To Rise, Based On Growing Adoption Of Cloud-Based And Virtual Contact Center Solutions

  

Contact Center Software Industry Overview

 

The global contact center software market size was valued at USD 23.94 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2022 to 2030.

 

The growth of the market can be attributed to the growing adoption of cloud-based and virtual contact center solutions to achieve better business continuity. Contact centers across the globe are focusing on transforming customer experience from a single interaction to an entire journey of consistent and personalized interactions. At this juncture, contact center software is helping businesses in ensuring a seamless customer experience across all communication channels. The strong emphasis businesses are putting on streamlining and personalizing customer interactions to enhance customer satisfaction is driving the growth of the market.

 

According to a study by Salesforce.com, Inc., around 84% of customers consider the experience provided by a particular company equally important as its products and services. Businesses have also realized that improved customer service can aid in augmenting profitability.

 

Gather more insights about the market drivers, restrains and growth of the Global Contact Center Software Market

 

Hence, businesses are aggressively adopting contact center solutions as part of their efforts to improve customer service, thereby contributing to market growth. Businesses have realized the potential of cloud-based computing and management tools. Hence, several businesses across the globe are focusing on switching to cloud-based contact centers.

 

Contact center managers and administrators are adopting cloud technology for various reasons, such as improved security and efficiency. Apart from cloud computing, businesses are also adopting other omnichannel solutions, including video chat assistance and chatbots, based on the latest technologies such as Artificial Intelligence (AI) to improve customer experience. Several organizations have already started automating multiple business functions leveraging AI. Prescriptive AI, the next generation of this technology, offers a wide variety of new capabilities, ranging from more optimized case routing to efficient inquiry resolution and scheduling management.

 

Prescriptive AI is also expected to add a new dimension to the ways businesses can anticipate the evolving needs of customers, and help in extending customer interactions from discovery and onboarding to post-purchase support. Prescriptive AI can also be used for internal purposes, such as restocking based on demand and optimization of field resources. However, Interactive Voice Response (IVR) fraud or fraudulent activities occurring within the IVR systems may restrain the market growth over the forecast period.

 

Contact centers are increasingly being exposed to the risk of fraud attacks and the subsequent losses as they continue to adopt IVR systems, webchats, and self-service channels as part of the efforts to address the growing volumes of calls being received by the agents. Contact centers are constantly at the risk of cyberattacks as they store large volumes of critical customer data. Thus, the growing instances of cyberattacks on contact center business operations are also expected to hinder the growth of the market.

 

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• Chatbot Market - The global chatbot market size was estimated at USD 430.9 million in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 24.9% from 2021 to 2028. The growth is expected to be driven by the increasing adoption of customer service activities among enterprises to reduce operating costs.
• Artificial Intelligence Market - The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing.

 

Contact Center Software Market Segmentation

Grand View Research has segmented the global contact center software market on the basis of solution, service, deployment, enterprise size, end-use, and region:

Contact Center Software Solution Outlook (Revenue, USD Million, 2017 - 2030)

• Automatic Call Distribution (ACD)
• Call Recording
• Computer Telephony Integration (CTI)
• Customer Collaboration
• Dialer
• Interactive Voice Responses (IVR)
• Reporting & Analytics
• Workforce Optimization
• Others

Contact Center Software Service Outlook (Revenue, USD Million, 2017 - 2030)

• Integration & Deployment
• Support & Maintenance
• Training & Consulting
• Managed Services

Contact Center Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Hosted
• On-premise

Contact Center Software Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprise
• Small & Medium Enterprise (SME)

Contact Center Software End Use Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• Consumer Goods & Retail
• Government
• Healthcare
• IT & Telecom
• Traveling & Hospitality
• Others

Contact Center Software Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

Market Share Insights

• December 2021: 8X8, Inc. announced that DMV Veterinary Centers, an emergency and specialty pet hospitals and services provider in Canada, deployed an 8x8 Contact Center for Microsoft Teams, which is certified by Microsoft. 

 

Key Companies profiled:

Some prominent players in the global contact center software market include

• 8X8, Inc.
• ALE International
• Altivon
• Amazon Web Services, Inc.
• Ameyo
• Amtelco
• Aspect Software
• Avaya Inc.
• Avoxi
• Cisco Systems, Inc.
• Enghouse Interactive Inc.
• Exotel Techcom Pvt. Ltd.
• Five9, Inc.
• Genesys
• Microsoft Corp.
• NEC Corp.
• SAP SE
• Spok, Inc.
• Talkdesk, Inc.
• Twilio Inc.
• UiPath
• Unify Inc.
• VCC Live

 

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

Fitness App Market Growth Is Expected To Rise As Of Increasing Penetration Of Smartphones Worldwide

 Fitness App Industry Overview

The global fitness app market size was valued at USD 1.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2022 to 2030.

The spreading COVID-19 pandemic led to nationwide lockdowns followed by social distancing norms, thereby aiding the transition from traditional studios and gyms to virtual fitness. It, in turn, has led to increased downloads and subscriptions of fitness apps. As per a report published by the American College of Sports Medicine (ACSM), it has been stated that fitness apps were ranked at number 13 in accordance with the 2019 fitness trends.

 Gather more insights about the market drivers, restrains and growth of the Global Fitness App Market

Tough competition has been witnessed between brick-and-mortar gyms against in-app fitness. Information technology has transformed the way the fitness industry works. According to an article published by World Economic Forum in September 2020, it is stated that downloads of fitness and health apps increased globally by 46.0% due to the growing trend of online fitness training, which is driving the market globally. The growing awareness regarding fitness and mental well-being is also driving the market.

In addition, the COVID-19 pandemic has led to an increase in awareness concerning health and hygiene. As per a World Economic Forum article published in September 2020, the Daily Active Users (DAUs) of fitness apps have increased by 24.0% in quarter 2 over quarter 1 in 2020. Moreover, the expanding network of fitness studios and gyms through online platforms is further aiding the adoption of these apps. Owing to this, several consumers are significantly investing in in-home fitness equipment, thus boosting revenue growth. For instance, revenue generated by Peloton, a U.S.-based exercise equipment company, has been estimated to double in 2020.

 Browse through Grand View Research's Healthcare IT Industry Research Reports.

• Fitness Tracker Market - The global fitness tracker market size was valued at USD 34.6 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.9% from 2021 to 2028. The market growth is extensively attributed to the rising health & fitness awareness, growing penetration of the internet & smartphones, and increased consumer disposable income levels. 
• mHealth Apps Market - The global mHealth apps market size was valued at USD 38.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.8% from 2022 to 2030. Growing adoption of fitness and medical apps to collect and track individuals' health-related data and to improve the overall health of the patients’ using smartphones are the major factors anticipated to drive the market. 

 

Fitness App Market Segmentation

 

Grand View Research, Inc. has segmented the global fitness app market report on the basis of type, platform, device, and region:

• Fitness App Type Outlook (Revenue, USD Million, 2016 - 2030)
  • Exercise & Weight Loss
  • Diet & Nutrition
  • Activity Tracking
• Fitness App Platform Outlook (Revenue, USD Million, 2016 - 2030)
  • Android
  • iOS
  • Others
• Fitness App Device Outlook (Revenue, USD Million, 2016 - 2030)
  • Smartphones
  • Tablets
  • Wearable Devices
• Fitness App Regional Outlook (Revenue, USD Million, 2016 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• September 2020: It is stated that downloads of fitness and health apps increased globally by 46.0% due to the growing trend of online fitness training, which is driving the market globally. The growing awareness regarding fitness and mental well-being is also driving the market.
• June 2020: HealthifyMe, a health and nutrition app, launched HealthifyMe Studio to provide live and interactive workouts.

 

Key Companies profiled:

Some prominent players in the global fitness app market include:

• Adidas
• Appster
• FitnessKeeper
• Fitbit, Inc.
• Azumio, Inc.
• MyFitnessPal Inc.
• Noom
• Nike
• Under Armour, Inc.
• WillowTree, Inc.
• Polar Electro
• Kayla Itsines
• Google
• Fooducate
• ASICS America Corporation

 

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