Monday, March 8, 2021

Hyperscale Data Center Market Business Revenue, Future Scope, Market Trends, Key Players And Forecast To 2024

 Market Highlights

The Global Hyperscale Data Center Market is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to account for the largest share in the hyperscale data center market, at a significant growth rate during the forecast period. For the purpose of analysis, North America has been categorized into three regions—the US, Canada, and Mexico. During the forecast period, the US is expected to be the leading region in terms of market share, growing at a CAGR of 20.99%, followed by Canada at 23.77% and Mexico at 22.55%. Large enterprises such as Google, Apple, and Tesla are investing a significant amount in specific areas such as Nevada and Reno due to their proximity to fiber channels which is driving the growth of the market in the US. Rapidly increasing business data is encouraging large enterprises to heavily invest in the data center expansion which is driving the market of hyperscale data center in Canada.

On the other hand, Asia-Pacific is expected to witness the fastest growth in the hyperscale data center market due to the presence of various developing countries and an increasing number of data centers. The region has been segmented into China, Japan, India, South Korea, and the rest of Asia-Pacific.

Among the countries in this region, China accounts for the largest market share followed by Japan and India, due to continuous growth in online streaming, gaming, and e-commerce markets. Japan has accounted for the second-largest market share in hyperscale data center market due to the technological advancements that are encouraging the enterprises to increasingly rely on the cloud. India is expected to be the fastest-growing country due to the presence of telecom operators and OTT providers.

Europe accounts for the second-largest market share in the global hyperscale data center market. The increasing cloud and data usage have led to the increasing demand for hyperscale centers in Europe. The region consists of the UK, Germany, France, Italy, and the rest of Europe. The UK accounted for the largest market share in 2018 due to the presence of major players of hyperscale data centers in the country that are expanding their cloud business in the UK.

The Global Hyperscale Data Center Market is expected to reach USD 90724.33 Million at a CAGR of over 22.51% by the end of the forecast period 2019–2024.

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Market Segmentation

The Global Hyperscale Data Center Market has been segmented on the basis of component, services, type, tier type, design type, and vertical, and region. The market, by component, has been segmented into servers, networking, software, storage, and others. By service, the global hyperscale data center market has been segmented into consulting, installation and deployment, and maintenance and support. By type, the global hyperscale data center market has been segmented into cloud providers, colocation providers, enterprises. By tier type, the market has been segmented into tier 3, tier 2, tier 4, and tier 1. By design type, the market has been segmented into electrical construction and mechanical construction. By vertical, the market has been segmented into IT & telecommunication, BFSI, healthcare, government, energy & utilities, manufacturing, media and entertainment, retail, and others.

Prominent Players

Some of the Prominent Players in the Global Hyperscale Data Center Market are Cisco Systems, Inc., IBM Corporation, Intel Corporation, Hewlett Packard Enterprise Development LP, DELL Inc., Lenovo Group Ltd. (Lenovo), Huawei Technologies Co. Ltd, Digital Realty Trust Inc, Equinix Inc, and NVIDIA Corporation.

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https://qntjuo.prnews.io/251632-Game-API-Market-Research-Report-Global-Trends-and-Forecast-To-2023.html

https://www.spoke.com/topics/game-api-market-research-report-global-trends-and-forecast-to-2023-603e07863833bf760602a66b

https://www.techsite.io/p/2007816

https://www.articletrunk.com/game-api-market-research-report-global-trends-and-forecast-to-2023/


Passport Reader Market Outlook and Future Scope Analysis Forecast To 2023

 Market Overview

The surging use of e-passports is estimated to create demand for the passport reader market 2020. The technology industry reports are produced by Market Research Future, which highlights market options for expansion. An 8.67% CAGR is predicted for the global market in the upcoming forecast period.

The elevated use of passport readers at the hotels, airport terminals, and car rental service stations is projected to transform the development of the passport reader industry. The interoperability of the infrastructure for international travel is projected to boost the global passport reader market in the impending period.

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Segmental Analysis

The segmental investigation of the passport reader market is conducted on the basis of type, application, technology, sector, and region. Based on the technology, the passport reader market is segmented into Barcode, OCR, RFID, and other. The type basis of segmenting the passport reader market consists of a self-service kiosk, swipe readers, compact full page reader, and others. The application-based segmentation of the passport reader market consists of border control, airport security, and others. Based on the sectors, the passport reader market is segmented into government, public, and private. Based on the regions, the passport reader market is segmented into the Asia Pacific, North America, Europe, and the rest of the world.

Detailed Regional Analysis 

The regional examination of the passport reader market consists of the Asia Pacific, North America, Europe, and the rest of the world. The Asia Pacific is the fastest mounting region through the passport reader market. Additionally, the budding focus of several Asian Pacific government to progress smart cities projects is advancing the passport reader market along with the growth in the setting up of automatic gate systems at airports. The North American regional market is governing the global market by holding 38% of the share in the passport reader market worldwide. Due to the upsurge in the use of e-passports and the rise in air passengers, the North American regional market is growing. Also, the airport and border controls officials in these regions are actively deploying passport readers to continue an even flow of passengers.

Competitive Analysis

As the profit generation potential has dipped considerably, the market contenders are estimated to use newer methods to conduct their day to day operations. The high paced development of the market is estimated to increase the development state of the stakeholders adding to the overall market development in the upcoming period. The deceleration in growth witnessed on a global scale is predicted to hamper the development and advances being initiated in the market currently. The lack of economic barriers is estimated to hold lesser resistance to the new players wanting to establish a resilient presence in the market. The need for economic stability is crucial in the market, which is being addressed adeptly by governments’ around the world. The need to monitor overhead costs is most important at this time as economic resources are needed to kick start the development of the global market in the imminent years. The redesigning of the supply chain is also required to be undertaken on a broad scale so as to accomplish economies of scale in the market during the forecast period.

The notable players in the passport reader market are Regula Forensics Inc., IER Inc., Beijing Wintone Science Technology, DESKO GmbH, Gemalto N.V, ARH INC, Access Limited, Lintech Enterprises Limited, and IDAC Solutions Pvt. Ltd.

Industry Updates:

Dec 2019 The use of an NFC passport checking function combined into the American Airlines’s mobile apps to enable passengers to board international flights without having passports checked by a customer service agent again has been successful.

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https://qntjuo.prnews.io/251630-Cloud-Object-Storage-Market-Research-Report-Analysis-and-Demand-with-Forecast-To-2023.html

https://www.spoke.com/topics/cloud-object-storage-market-research-report-analysis-and-demand-with-forecast-to-2023-603e06ae20935275eb00ecc1

https://www.techsite.io/p/2007795

https://www.articletrunk.com/cloud-object-storage-market-research-report-analysis-and-demand-with-forecast-to-2023/


Sunday, March 7, 2021

Knowledge Management Software Market Key Drivers, Size, Share, Trends, Growth, Future Scope Analysis and Forecast To 2023

 Global Knowledge Management Software Market, By Type (Mobile – Android Native, Mobile - iOS Native), By Deployment Type (On Premises, Cloud, Hybrid), By Organization Type (Small & Medium Scale Enterprise, Large Scales Enterprise), By End-Users- Forecast 2023

Market Overview

Market Research Future (MRFR), in its latest study on the knowledge management software market 2020, reveals factors that are likely to favor and hinder the expansion of the market. Along with this report, a detail evaluation of the knowledge management software market performance in COVID 19 pandemic is also provided. As per MRFR analysis, the global knowledge management software market can thrive at 12% CAGR in the forecast period (2017-2023). The knowledge management software market value can exceed USD 33 Bn on the conclusion of the assessment period.

The increase in the need for data analysis across verticals and its growing importance is expected to underpin the expansion of the knowledge management software market across the analysis period. Different industries are adopting such technologies for the better handling of respective markets and their internal environment. The growing need for knowledge management software to create, identify, represent and redistribute information for suitable purposes across different sectors can impel the expansion of the knowledge management software market. The major boost to improve customer experience obtained from the integration of the software can also boost the growth of the market in the years to come.

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Segmental Analysis

The segment evaluation of the global knowledge management software market is based on type, organization type, deployment type, and end- users.

The type based segments of the knowledge management software market can are mobile android native and mobile - iOS native, and others.

The deployment type based segments of the knowledge management software market are on-premises, hybrid, cloud, and others. Increase in cloud deployment of the software can boost the expansion of the market in the years to come.

The organization type based segmenst of the knowledge management software market are large scales enterprise and small & medium scale enterprise (SME).

The end-users based segments of the knowledge management software market are pharmaceuticals, manufacturing, banking, government and defense, financial services and insurance (BFSI), and IT & telecommunication among others.

Regional Analysis

In North America, the high demand for target-specific information that allows rapid expansion of businesses is likely to spur the regional knowledge management software market development in the years ahead. The ability of knowledge management software to provide a single window that aids in the creation, management, and redistributed of content via search tools and its growing awareness among the tech-savvy people of the region can bolster the expansion of the US knowledge management software market. In APAC, the high utility of knowledge management software as it makes data fetching seamless for users is expected to underpin the rise of the regional market. The software aids in the easy gathering of knowledge and assists in saving time and make high profit at the same time. These features are gaining knowledge management software high popularity among the rise in the number of SMEs in India and other developing regions of APAC. This can impel Asia Pacific knowledge management software market through the study period. In EU, the wide range of application of knowledge management software due to its features, such as; easy knowledge base updating process, accuracy, consistency, and better knowledge distribution can cause the market in EU to surge in the near future.

Competitive Analysis

Bitrix, Inc. (U.S.), ProProfs (U.S.), Atlassian Corporation Plc (Australia), Callidus Software Inc. (U.S.), EduBrite Systems Inc. (U.S.), Freshworks Inc. (U.S.), Lucidea (Canada), MangoApps Inc. (U.S.), Yonyx Inc. (U.S.), eXo Platform (U.S.), and others are some notable players of the knowledge management software global market listed by MRFR.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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https://qntjuo.prnews.io/251627-Knowledge-Management-Software-Market-Key-Drivers-Size-Share-Trends-Growth-Future-Scope-Analysis-and-Forecast-To-2023.html

https://www.spoke.com/topics/knowledge-management-software-market-key-drivers-size-share-trends-growth-future-scope-analysis-and-forecast-to-2023-603e06073833bf7606006d31

https://www.techsite.io/p/2007779

https://www.articletrunk.com/knowledge-management-software-market-key-drivers-size-share-trends-growth-future-scope-analysis-and-forecast-to-2023/


 

Statistical Analytics Market Size, Share, Growth Rate, Trends, Analysis, Future Scope, Forecast To 2023

 Statistical Analytics Market, By Components (Solution, Service), By Solution (Data Mining, Predictive Analytics, Visual Analytics), By Service (Professional Service, Support and Maintenance Service), By Deployment (Cloud, On-Premise) – Global Forecast 2023

Market Overview

Statistical analytics is a segment of data analytics that uses various techniques to collect and analyze structured and semi-structured customer data. These techniques help organizations to unravel hidden trends and patterns within such data. Statistical analytics is used by organizations to gain insights in the relevant market and to aid better, faster decision making. Proliferated technological advancements have led to rapid digitalization of the world. Businesses have started shifting operations to digitized platforms to aid easier data generation, collection and analysis. Businesses want to use such analytics solutions to obtain higher economies of scale, track influential intricacies in market functionalities, and in turn, gain competitive advantage over their peers. Such shift of operations has propelled the demand for statistical analytics by organizations, hence, fueling the market.

With a rise in demand for improved consumer satisfaction, the demand for statistical analytics solutions is catapulting in various sectors such as BFSI, healthcare, foods and beverages, retail, manufacturing, IT & telecommunications, etc. According to the report published by MRFR, the global statistical analytics market is expected to garner a 15% CAGR during the assessment period.

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Segmental Analysis

The statistical analytics market is segmented on the basis of component, deployment, organization size, vertical, and region. On the basis of component, the market has been segmented into solution and service. The segment of solution is further segmented into data mining, predictive analysis, visual analytics, forecasting & econometrics and statistical analytics. The segment of service is further bifurcated into professional service and support & maintenance service. On the basis of deployment, the market has been segmented into cloud and on-premise. On the basis of organization size, the market is segmented into small & medium sized enterprises and large-scale enterprises. Based on vertical, the market has been segmented into government & defense, BFSI, IT & telecommunication, healthcare, retail, manufacturing, travel & hospitality, transportation & logistics, and media & entertainment.

According to the MRFR report, the BFSI sector is likely to account for the highest share in statistical analytics market. By organization size, small and medium enterprises account for the largest market share. Cloud based statistical analytics solutions provide various high-end features such as campaign performance measurement, website traffic based on various search filters, and most popular sites. Demand for on-premise deployment services is driven with an increase in the demand for digitally stored data and rapid adoption of cloud-based computing.

Rapid implementation of statistical analytics solutions by small and medium-scale enterprises, and better overall business operations are some of the factors estimated to drive the statistical analytics market. Rising shift from on-premise to cloud based analytics solutions because of improved business growth is yet another factor contributing to the rising demand for cloud-based statistical analytics solutions in the market.

Detailed Regional Analysis

On the basis of regional analysis, the statistical analytics market is segmented into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). North America is estimated to garner the largest share in the statistical analytics market attributable to factors such as better network infrastructure, digitization, and higher technology implementation. In addition, invention of advanced technology and economies benefitting from such invention are the leading causes for accelerated digitization in North America. Furthermore, presence of multiple key players in North America is also deemed to drive the regional market.

Key Players

The prominent players in the statistical analytics market include SAP SE (Germany), SAS Institute (U.S.), Oracle Corporation (U.S.), International Business Machine (U.S.), Tibco Software Inc. (U.S.), Qlik Software (U.S.), Alteryx (U.S.), Statacorp (U.S.), Plug & Score (U.S.), and Lumina Decision Systems (U.S.).

Industry Updates

February 19, 2019: Unifi analytics is a business intelligence tool launched at HIMSS19, by Hologic, that allows management of mammography devices, monitorization of technologist performance, and prevention of unanticipated downtime for healthcare facilities. At HIMSS19, SPH Analytics and Medicision announced a strategic partnership to help health plans improve the quality of care provided to their members and lower related costs.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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https://qntjuo.prnews.io/251625-Statistical-Analytics-Market-Size-Share-Growth-Rate-Trends-Analysis-Future-Scope-Forecast-To-2023.html

https://www.spoke.com/topics/statistical-analytics-market-size-share-growth-rate-trends-analysis-future-scope-forecast-to-2023-603e056838d37e3dbd03b9c3

https://www.techsite.io/p/2007769

https://www.articletrunk.com/statistical-analytics-market-size-share-growth-rate-trends-analysis-future-scope-forecast-to-2023/


In-Vehicle Video Surveillance Market Outlook, Strategies, Industry Analysis, Future Scope, Key Drivers Forecast To 2023

 Global In-Vehicle Surveillance Market, by Solution (Blind Spot Detection System, Parking Assist System, Lane Departure Warning System, Head Up Display Device, GPS), Vehicle Type (Commercial, Passenger), Application - Forecast 2023

Overview

In vehicle video surveillance is gaining popularity in many countries with introduction of dashcam video cameras for vehicles to film the road in front of or behind the vehicle for evidence in the event of an accident or undisciplined driving. With automotive industry focused on developing driverless cars, many drivers look forward to enhancing their vehicles and improving in-vehicle experience. A global trend among the drivers is to embrace in vehicle video surveillance by adopting on-board cameras into their vehicles. Advancements in video surveillance technology is one of the key drivers for adoption of in vehicle video surveillance systems opening new doors for on-board cameras for recording the road trip, merging and reducing the blind spots, and preventing parking mishaps. In vehicle video surveillance systems are rapidly adopted by school buses to monitor students, drivers and employees. Furthermore, government organizations are adopting in vehicle video surveillance systems for public safety for undercover surveillance in fleet of tactical vehicles, combat vehicles and reconnaissance vehicles. Governments in various countries around the globe have already adopted in vehicle video surveillance for metro trains to ensure the safety of the passengers and drivers by providing real-time video recording while the train is in operation. Many passenger transit buses are now equipped with digital bus cameras offering and expert witness in case of any incident, further enhancing protection of the civilians. Law enforcement agencies around the world are adopting in vehicle video surveillance for police vehicles to protect police officers. Most of the healthcare and medical sector deploys in vehicle video surveillance in Emergency Medical Service (EMS) vehicles to monitor the patient condition inside the ambulance. These are the key driving factors for the growth of in vehicle video surveillance market offering various hardware, software and services for in vehicle video surveillance. With growing IoT devices, there has been a rising demand for connectivity and security of people in vehicles such as cars, trucks, and trains which plunges the adoption of in vehicle video surveillance systems.

In Vehicle Video Surveillance market may face challenge to implement high-bandwidth communication technologies and high-capacity storage devices to transfer and record real-time high-definition video and images. In addition, data privacy issues and high costs associated with installation and maintenance of these systems pose challenge towards the market growth.

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Industry News

May 2017, Bosch Group partners with Sony Semiconductor Solutions to develop accurate and reliable camera technologies

Bosch Group, a provider of in vehicle video surveillance systems partners with Sony Semiconductor Solutions to develop accurate and reliable camera technologies for improving vehicle sensors during poor lighting conditions to sense and detect obstacles and reducing speed or applying brakes. Moreover, these in car camera technologies will be helpful for road sign recognition, lane control and emergency braking. These cameras will operate reliably in case of sudden change in lighting conditions from dark to light and vice versa.

February 2017, Advantech Co. Ltd. announced Network Video Recorders for AxxonSoft in vehicle and street surveillance applications

Advantech Co. Ltd. a provider of in vehicle video surveillance solutions, announced the availability of Network Video Recorders to integrate with AxxonSoft’s (video surveillance software developer) Video Management System (VMS). Advantech ARK-V, ARK-S series and NVS-500 are compatible with AxxonSoft VMS Axxon Next 4.0 assisting customers by saving time and efforts to implement these solutions for video and street surveillance applications. Moreover, Advantech ARK-V series has ignition power management system and follows in-vehicle EMARK and IEC 60721 5M3 shock/vibration proof standards suitable for in vehicle surveillance applications.

November 2016, Advantech collaborates with GeoVision to boost in vehicle surveillance deployments

Advantech Co. Ltd. a provider of in vehicle video surveillance solutions, collaborated with GeoVision, another video surveillance solution company, to integrate GeoVision’s video management software and IP cameras with Advantech’s ARK-V and ARK-S series hardware. Additionally, as part of this collaboration GeoVision will also offer video analytics functionalities such as license plate recognition, people counting, video stabilization and defog to enhance daily operational efficiency and optimize video surveillance capabilities.

Segmentation

Segmentation by Component: Hardware, software and services. The hardware solutions include cameras, storage devices, video encoders, and other accessories. The software solutions include video management systems (VMS) and video analytics. The services include maintenance and installation services.

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https://www.spoke.com/topics/in-vehicle-video-surveillance-market-outlook-strategies-industry-analysis-future-scope-key-drivers-forecast-to-2023-603e04b23833bf7606046d90

https://www.techsite.io/p/2007758

https://www.articletrunk.com/in-vehicle-video-surveillance-market-outlook-strategies-industry-analysis-future-scope-key-drivers-forecast-to-2023/


 

Cognitive Cloud Market Outlook and Future Scope Analysis Forecast To 2023

 Cognitive Cloud Market, By Technology (NLP, Machine Learning, Automated Reasoning), By Service (Managed, Professional), By End User (SMEs, Large Enterprises) and By Vertical - Forecast 2023

Industry Insight

Market Research Future provides a short-term assessment of the impact of COVID-19 on the global cognitive cloud market 2020. It offers a clear assessment of the projected market fluctuations during the forecast period (2017–2023) with USD 3.42 Billion in valuation. Various factors are likely to impact the overall dynamics of the cognitive cloud market with a high 16% CAGR in the same forecasted period.

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Top Grossing Factors

While the cloud technology was witnessed as a superior technology to adopt until some time ago, it has now become a must to navigate through the challenging time of Coronavirus Disease Outbreak. In this daunting time where businesses are struggling to keep up with their infrastructure needs, the global cognitive cloud market is anticipated to achieve a milestone of high percent uptime of a stable growth graph.

While COVID-19 has had a noteworthy impact on the worldwide cognitive cloud market, organizations realize that cloud services are necessarily a good fit for unprecedented uncertainties ensuring business continuity amidst physical lockdowns. As many businesses are challenged, yet cognitive cloud providers are creating a balance by offering customers with increased flexibility versus offering opportunistic solutions. These factors are assessed to be beneficial for the market of the cognitive cloud to expand in the forecast period.

As the global cognitive cloud market encompasses technologies such as machine learning, natural language processing, information retrieval, and automated reasoning for translating unstructured data to sense, these are creating meticulous opportunities for new players to invest in and take the market’s valuation to the next level.

At the same time, globally, several companies are rapidly adopting cognitive cloud technologies to gain a competitive edge in the market. The giant players in the cognitive cloud market such as IBM, Microsoft, Google, SAS, TCS, AWS, Virtusa, and Cisco are investing high in the market. These companies are incessantly innovating their products and services to overcome large and complex data challenges as compared to other database solutions.

Furthermore, the rise in concern among all the major business organizations to study the extensive volume of data to assess the risk associated with any strategic initiative is further instrumental in accelerating the cognitive cloud market growth. The necessity for industries, such as retail, healthcare, and financial institutions, to study large volumes of data optimally on a real-time basis, is apparent to bang the industry favorably.

Segmentation of Market

The cognitive cloud market has further been assessed over segmental analysis, which is done over technology, service, end-user, and vertical segments.

The vertical segment has been bifurcated into healthcare, BFSI, education & retail, consumer electronics & retail, travel & tourism, IT & telecommunication, oil & gas, and aerospace & defense. Out of which, retail and healthcare verticals have possibilities to grow at a significant rate during the forecast period. In healthcare, the cognitive cloud assists with assembling the available information and integrating that data with patient information, which, in turn, helps in presenting more personalized services. The cognitive cloud also helps in making healthcare services cost-efficient.

The technology segment has included machine learning, natural language processing, automated reasoning, and others.

The service segment has included managed service and professional service.

The end-user segment has included SMEs and large enterprises.

Regional Outlook

The regional analysis of the cognitive cloud market is being studied for regions—North America, Europe, Asia Pacific, and the Rest of the World.

MRFR, in its study, has revealed that the North American region is estimated to account for the largest share of the market. The foremost growth in the North American cognitive cloud market is attributed to technical advancements and growing need for real time analysis of massive and diversified. In North America, cognitive cloud technology is being extensively implemented across the healthcare sector. U.S. hospitals are working with Watson to aid the proper treatment of cancer patients as well as to help doctors.

Asia-Pacific region is projected to grow at the fastest rate during the forecast period.  Asia Pacific region is expected to expand at the highest CAGR during the forecast period. Increasing investments by the technology companies in foremost countries, such as China, Japan, and India, rising digitalization, Machine Learning (ML), mounting adoption of advanced Artificial Intelligence (AI),  and government regulations and initiatives are expected to compel the growth of the market in the APAC region.

Top Market Players

The top players in the cognitive cloud market are listed as IBM Corporation (U.S.), Google, Inc. (U.S.), Spark Cognition, Inc. (U.S.), Microsoft Corporation (U.S.), Enterra Solutions LLC (U.S.), CognitiveScale (U.S.), Vicarious (U.S.), Numenta (U.S.), ColdLight Solutions (U.S.) and others.

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https://www.spoke.com/topics/threat-intelligence-market-sales-revenue-worldwide-analysis-competitive-landscape-future-trends-industry-size-and-regional-forecast-to-2023-603e040a38d37e3dbd03480f

https://www.techsite.io/p/2007744

https://www.articletrunk.com/threat-intelligence-market-sales-revenue-worldwide-analysis-competitive-landscape-future-trends-industry-size-and-regional-forecast-to-2023/


 

Virtual Reality in Therapy Market Business Revenue, Future Scope, Market Trends, Key Players And Forecast To 2023

 Global Virtual Reality in Therapy Market, By Device (Head mount, Gesture Control), By Technology (Non-Immersive, Fully Immersive), By Application (Phobia Treatment, Robotic Surgery) - Forecast 2023

Brief Industry Insights

Virtual reality in therapy market is poised for tremendous growth over the forecast period of 2017-2023. The immense expansion of this market can be attributed to the growth of artificial intelligence and its arrival into the healthcare sector.

Virtual reality is basically a computer-generated virtual environment that provides real-life sensory experiences to the recipient. This technology has the capability to construct a three dimensional, visual and intriguing environment. In such a form of an alternate reality a person can control the virtual elements and also carry a number of tasks. The environment created can either be real or imitated depending on the situation and purpose.

Currently, the global healthcare industry is in a phase of technological reformation. Owing to this, it can be confidently affirmed that the global market for virtual reality in therapy will grow by leaps and bounds through the next seven years. The market is expected to generate a revenue of around USD 3.9 Billion by the end of the forecast period. The estimated CAGR for this time span will be 32%.

One of the major factors that drive the growth of the market happens to be advantages of virtual therapy in comparison to conventional therapies. When a patient undergoes this form of treatment the need for drugs or invasive surgeries is eliminated. Thus, saving a whole lot of time and money.

Many hardware vendors and medical device providers have embarked upon joint ventures with an aim to devise a new product or service. This is another aspect that positively impacts the growth of the market.

Additional growth propellers like technological advancements, government support, increased demand for improved technological solutions, higher adoption of handheld medical instruments and the need for better means of education for the medical students further foster the growth of the market.

Although, the market may face certain restraints like stringent rules & policies and price related issues. However, experts believe that as the market progresses it will cope with such minor issues.

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Segmental Analysis

The worldwide virtual reality in therapy market has been trifurcated. The three segments and sub-segments respectively are listed below.

Applications: Robotic Surgery, phobia treatment, surgery simulation, treatment of post-traumatic stress disorder, treatment of autism, robotic surgery, rehabilitation and visualization.

Technologies: Semi-immersive VR, full-immersive and non-immersive VR.

Devices: Gesture control, projectors and head mount.

Comprehensive Regional Analysis

The virtual reality in therapy market has been successful in expanding across the globe. The main regions where it prevails are Europe, North America, Asia Pacific and Rest of the World.

Region-wise North America holds the largest market share and the primary reason for this is the business being brought in by countries like Canada and U.S. This area experiences a massive demand for high-end technological solutions, higher number of research & development activities and greater acceptance of virtual reality in the healthcare industry. Asia Pacific is estimated to expand tremendously during the projection period as it has a huge number of investors and manufacturers.

Industry News

February, 2018 – Recently a clinical trial was held in which 116 patients participated in the Netherlands. The outcome of the experiment was that virtual-reality-based therapy along with standard treatment was able to reduce paranoia and anxiety in people who were suffering from psychotic disorders. This news has confirmed the effectiveness of virtual reality in therapy and given the market a boost.

Market Players & Key Strategies

Some of the most renowned and longstanding players of this market can be listed as Virtual Realities, Siemens Healthcare, Samsung Group, Brainlab and Mimic Technologies.

The global market for virtual reality in therapy is intensely competitive. To make their mark, market players have to employ a number of development tactics. Some of the major strategies used by them are strategic partnerships and mergers with other companies.

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Read More:

https://qntjuo.prnews.io/251615-Cognitive-Analytics-Market-Demand-Industry-Size-Top-Players-Opportunities-Sales-Revenue-And-Regional-Forecast-To-2023.html

https://www.spoke.com/topics/cognitive-analytics-market-demand-industry-size-top-players-opportunities-sales-revenue-and-regional-forecast-to-2023-603e035a3053ac991a05873f

https://www.techsite.io/p/2007732

https://www.articletrunk.com/cognitive-analytics-market-demand-industry-size-top-players-opportunities-sales-revenue-and-regional-forecast-to-2023/


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