The global ERP software market is expected to witness substantial growth in the coming years owing to increasing number of small and medium sized enterprises in sectors, such as retail, telecom, manufacturing, and information technology (IT) services. Enterprise resource planning (ERP) is a software that enables organizations to automate and manage their business operations. The software is used to manage back office activities and integrate business processes.
The global contact center market is anticipated to witness momentous growth in coming years owing to rising adoption of customer relationship management (CRM) in businesses. Contact center is a particular department in an organization that manages queries from consumers related to product or services. The department provides solutions using various mediums, such as e-mail, telephone, letter, and live chats. These communication channels allow business departments to interact with consumers and other organizations and take their feedbacks.
The global digital asset management (DAM) market is expected to witness significant growth in the coming years owing to rapid digitization and growing need for online medium platform. In addition, rising concerns regarding loss or misplaced data, demand for collaborative digital workflows, and need for compliance with regulatory standards are likely to propel the market growth. Rise in digital marketing activities and high penetration of smartphones has increased the number of digital assets, such as images, videos, and other documents.
The global mobile device management market is anticipated to witness significant growth in coming years on account of growing adoption of MDM solutions among organizations. Mobile device management (MDM) is a system that provides centralized management of various mobile devices, such as smartphones, sub-notebooks, tablets, and personal digital assistant using software or hardware. It deals with securing emails and corporate documents, corporate data segregation, and integrating and managing mobile devices, such as laptops and other handheld machines.
The global corporate performance management (CPM) market is likely to exhibit significant growth in the coming years. Increasing need for minimizing operational costs and ensuring transparency related to business strategy among all employees can boost the growth of the market. Additionally, companies are adopting CPM solutions for improving performance by focusing more on core business. These solutions will also enable them to fulfill regulatory compliance and enhance security. Applications help to transform captivated information into operation tactics.
The global enterprise VSAT satellite communication system market size was valued at USD 5.14 billion in 2016. It is expected to expand at a CAGR of 4.4% over the projected period. Rising number of enterprises coupled with increasing shift towards digitalization is expected to drive the demand for VSATs over the projected period.
The enterprise mobility management market is expected to grow at a CAGR of 27% over the forecast period from 2016 to 2024. Enterprise mobility management (EMM) is widely used software that handles various enterprise systems management.
The global Wi-Fi hotspot market is expected to reach USD 4 billion over the forecast period and it is projected to grow at an approximate CAGR of over 16% over the forecast period of 2016 to 2024.
The global knowledge process outsourcing (KPO) market is anticipated to grow at a considerable pace over the forecast period. Increasing need for enhanced flexibility in Service Level Agreements (SLA) is one of the major growth drivers. Rising requirement to process and analyze the vast amount of enterprise data and easy change management are also expected to drive demand for KPO services. However, stringent rules and regulations set by different governments regarding compliance and legal clauses may hinder this growth to an extent.
The global storage area network equipment market is expected to witness robust growth over the coming decade. Rising need to minimize the complexities of organizational storage systems and increasing adoption of virtualization technology by many companies are key factors contributing toward market growth. Furthermore, growing adoption of fiber channel over Ethernet is boosting demand for storage area network (SAN) equipment.
Managed file transfer (MFT) is a type of software used to provide secure internal, external and ad-hoc data transfers through a network. MFT products are manufactured using the FTP network protocol. MFT is a class of file transfer software that emphasizes consistency and security to allow precarious business processes.
The worldwide data analytics outsourcing market is poised to rise at a whopping CAGR exceeding 30% from 2016 to 2024 (forecast period). It can report revenues more than USD 6 billion by 2024. Growing awareness about the advantages of data analytics is a key market driver.
The global 5G technology market is estimated to exhibit substantial growth from 2016 to 2024 (forecast period). 5th generation wireless systems, or widely known as 5G, indicate the next stage mobile telecommunication standards beyond the 4G standards.
The global intelligent virtual assistant market is projected to exceed USD 3 billion by 2020. Increased focus on effective client communication, made easy by virtual assistants, is expected to drive the intelligent virtual assistant market over the forecast period.
Growing demand for mobile applications has resulted in the expansion of mobile websites. Companies developing their own mobile applications have compelled customer engagement in the same.
The Third Party Logistics (3PL) Market is expected to grow at a CAGR of 5% over the forecast period from 2016 to 2024.
Internet of Everything (IoE) is a systematic connection of data, things, processes and people. It enables the convergence of previously unconnected physical and digital domains. IoE is drastically changing the way business organizations function. It is affecting not just technological areas of enterprises but also crucial business strategies.
The point of sales market has observed significant development in past few years due to easiness of using and enhanced profits on investments that are given through systems. The advanced point of Sale terminals provide reliability and high durability as compared to what conventional system like cash registers delivers; it has its outcome in important manner by decreasing price in ownership, by this means point of sales system market demand is growing in medium as well as small extent business.
Land Mobile Radio technology is a wireless communications system projected for utilization by worldwide users on foot portables or in vehicles This LMR systems are used by emergency responder organizations such as fire fighters, ambulance service, police, and dispatched services, public work organizations such as numerous field staff, taxis, and companies with large vehicle fleets.
The global Engineering Services Outsourcing market (ESO) is expected to exhibit considerable growth over the forecast period. This can be attributed to constrained R&D budget due increased cost pressures. Dynamic consumer behavior resulting in shorter product life cycles is also expected to favorably impact engineering services outsourcing market growth. In addition, several factors including improvement in processes, enhanced efficiency, reduced time-to-market and cost advantage may also spur engineering services outsourcing market growth over the next few years. Aerospace and automotive OEMs (Original Equipment Manufacturers) emphasize on increasing and strengthening associations and tie-ups with engineering services outsourcing vendors due to the need to focus on crucial R&D activities.