Sustainability Management Software Market Research Report- Global Forecast 2023

 Sustainability Management Software Market, By Component (Software, Service), By Software (Collaboration and Communication Systems), By Service (Implementation Service, Consulting Service), By Deployment (Cloud Based, On-Premise) - Forecast 2023

Market Introduction

Market Research Future (MRFR) asserts that the global sustainability management software market is set to reach the value of approximately USD 900 million by 2023. The market is expanding at 7% CAGR during the forecast period (2017-2023). 

Sustainability management software helps an organization to effectively track, measure, and report on their sustainability initiatives. This will subsequently enable the organization to function with the least impact possible on the environment. To put it simply, it aids enterprises in enhancing their business performance via automated analysis, data management and reporting.

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Growth Drivers

Growing awareness amongst organizations fueling demand for sustainability management software

At present, there is an enhanced awareness regarding the concept of sustainability management in companies; it is no longer treated as a regulatory obligation. This is especially essential in companies operating in the manufacturing, chemicals and oil and gas sectors.

The market has significantly developed on the back of increasing competition amongst companies. Subsequently, companies are looking to stand out in the market by adopting sustainable methodologies in their business processes, setting them apart from other organizations.

Lack of strict regulations to hamper the market growth

As the awareness regarding protection of the environment and sustainable practices is low among companies in emerging nations, enforcement of stringent standards is uneven and only government-owned enterprises are generally subject to funding. These factors could be undermining factors in the market growth.

Industry Trend

February 2018 – Tennaxia, Europe, has collaborated with U.S. based K·Coe Isom to offer both technology and services for food and beverage companies who are looking to improve, scale up their efforts sustainable performance.

Market Segmentation

The sustainability management software market can be segmented based on component, deployment, and application.

The component segmented is sub-segmented into software and service. The software comprises of sustainability performance and project management software, sustainable product development software, collaboration and communication system, infrastructure management software and corporate social responsibility data management software. Sustainability performance and project management software empower an organization by establishing project initiatives at corporate or site level, by focusing on executing strategy and increasing returns. It also improves enterprise reporting accuracy and usability and minimizes time and cost required for gathering data.

By deployment, the market is segmented into cloud-based and on-premise. Cloud-based sustainability management software is predicted to claim the largest market share. The segment is rising at a phenomenal rate on account of various benefits it offers, such as reduction in IT costs, flexibility of work practices, scalability, and convenience.

Various applications of sustainability management software are healthcare, manufacturing, oil & gas, automotive, IT and telecommunication and others. Sustainability management software is highly imperative for efficient and smooth running of operations in healthcare sector. With large database of patients and need to handle several sets of information about the patient, the healthcare industry makes high demand for the software to help with these issues.

Regional Analysis

The regional analysis of sustainability management software market has been studied for regions, namely Asia Pacific, North America, Europe and Rest of the World.

North America is the leading player in the global sustainability management software market due to major sustainability management software manufacturers present in the region.

However, as per the report, the Europe region is expected to dominate the market in the future due to presence of leading organizations who are investing in software development in order to improve their profit margins. Moreover, growing awareness amongst these market players regarding the benefits of sustainability management software has been instrumental in the market growth in the region as well.

APAC is the fastest growing region in the sustainability management market on account of increasing awareness among enterprises and flourishing IT infrastructure. Rapid industrialization and improving economy have also propelled the market growth in the region.

Key Players

The key players who are contributing to the market are Verisae, Inc. (U.S.), Thinkstep (Germany), Schneider Electric (France), IBM Corporation (U.S.), SAP SE (Germany), CA Technologies (U.S.), Urjanet Inc (U.S.), Accuvio (Ireland), Ecova Inc. (U.S.), Figbytes Inc. (Canada), among others.

Industry News

Donesafe, a Sydney-based online safety management software company has added Telstra as a client. Donesafe will be implementing a new safety management system using its highly adaptable and automated platform to increase workplace safety at Telstra. Telstra will be an addition to the client list that includes McDonald’s, Suncorp Group, IAG, NAB, Government of California, Brickworks, and more.

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Sustainability Management Software Market Research Report- Global Forecast 2023

 Sustainability Management Software Market, By Component (Software, Service), By Software (Collaboration and Communication Systems), By Service (Implementation Service, Consulting Service), By Deployment (Cloud Based, On-Premise) - Forecast 2023

Market Introduction

Market Research Future (MRFR) asserts that the global sustainability management software market is set to reach the value of approximately USD 900 million by 2023. The market is expanding at 7% CAGR during the forecast period (2017-2023). 

Sustainability management software helps an organization to effectively track, measure, and report on their sustainability initiatives. This will subsequently enable the organization to function with the least impact possible on the environment. To put it simply, it aids enterprises in enhancing their business performance via automated analysis, data management and reporting.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3856

Growth Drivers

Growing awareness amongst organizations fueling demand for sustainability management software

At present, there is an enhanced awareness regarding the concept of sustainability management in companies; it is no longer treated as a regulatory obligation. This is especially essential in companies operating in the manufacturing, chemicals and oil and gas sectors.

The market has significantly developed on the back of increasing competition amongst companies. Subsequently, companies are looking to stand out in the market by adopting sustainable methodologies in their business processes, setting them apart from other organizations.

Lack of strict regulations to hamper the market growth

As the awareness regarding protection of the environment and sustainable practices is low among companies in emerging nations, enforcement of stringent standards is uneven and only government-owned enterprises are generally subject to funding. These factors could be undermining factors in the market growth.

Industry Trend

February 2018 – Tennaxia, Europe, has collaborated with U.S. based K·Coe Isom to offer both technology and services for food and beverage companies who are looking to improve, scale up their efforts sustainable performance.

Market Segmentation

The sustainability management software market can be segmented based on component, deployment, and application.

The component segmented is sub-segmented into software and service. The software comprises of sustainability performance and project management software, sustainable product development software, collaboration and communication system, infrastructure management software and corporate social responsibility data management software. Sustainability performance and project management software empower an organization by establishing project initiatives at corporate or site level, by focusing on executing strategy and increasing returns. It also improves enterprise reporting accuracy and usability and minimizes time and cost required for gathering data.

By deployment, the market is segmented into cloud-based and on-premise. Cloud-based sustainability management software is predicted to claim the largest market share. The segment is rising at a phenomenal rate on account of various benefits it offers, such as reduction in IT costs, flexibility of work practices, scalability, and convenience.

Various applications of sustainability management software are healthcare, manufacturing, oil & gas, automotive, IT and telecommunication and others. Sustainability management software is highly imperative for efficient and smooth running of operations in healthcare sector. With large database of patients and need to handle several sets of information about the patient, the healthcare industry makes high demand for the software to help with these issues.

Regional Analysis

The regional analysis of sustainability management software market has been studied for regions, namely Asia Pacific, North America, Europe and Rest of the World.

North America is the leading player in the global sustainability management software market due to major sustainability management software manufacturers present in the region.

However, as per the report, the Europe region is expected to dominate the market in the future due to presence of leading organizations who are investing in software development in order to improve their profit margins. Moreover, growing awareness amongst these market players regarding the benefits of sustainability management software has been instrumental in the market growth in the region as well.

APAC is the fastest growing region in the sustainability management market on account of increasing awareness among enterprises and flourishing IT infrastructure. Rapid industrialization and improving economy have also propelled the market growth in the region.

Key Players

The key players who are contributing to the market are Verisae, Inc. (U.S.), Thinkstep (Germany), Schneider Electric (France), IBM Corporation (U.S.), SAP SE (Germany), CA Technologies (U.S.), Urjanet Inc (U.S.), Accuvio (Ireland), Ecova Inc. (U.S.), Figbytes Inc. (Canada), among others.

Industry News

Donesafe, a Sydney-based online safety management software company has added Telstra as a client. Donesafe will be implementing a new safety management system using its highly adaptable and automated platform to increase workplace safety at Telstra. Telstra will be an addition to the client list that includes McDonald’s, Suncorp Group, IAG, NAB, Government of California, Brickworks, and more.

About Market Research Future

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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Data Center Cooling Market Business Overview, Challenges, Opportunities, Trends and Market Analysis and Forecast To 2023

 Global Data Center Cooling Market, By Components (Chillers, Economizer, Server Cooling), Cooling Type (liquid, air), Service (Professional Service, Managed Service), Organization Size (SMEs, Large Enterprises) Vertical (BFSI, Energy ) - Forecast till 2026

Market Scope

Market Research Future (MRFR) estimates the value of the Data Center Cooling Market 2020 to be USD 17 Billion by 2023. It also predicts that the market can advance at a robust rate of 14% from 2018 to 2023 (review period).

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Growth Boosters and Key Barriers

Datacenter operators make extensive use of cooling systems for ensuring that the temperature stays within the acceptable level across data centers. Data centers operate throughout the day, efficiently handling massive amounts of data. The cooling system helps dissipate the heat energy within data processing, preventing the damage that can be caused due to the overheating of the equipment.

Datacenter cooling is increasingly gaining favor among data center operators owing to its eco-friendly properties, cost-effectiveness as well as energy efficiency. Data centers have increased in number across the world, in conjunction with the rising use of 4G LTE networks. Thus, with the mounting number of data centers, the demand for data center cooling solutions is also expected to soar, given the need to bring down the overall IT cost in data centers.

The advent of cloud computing along with the surge in the initiatives by government to boost the deployment of cloud technology is also working in favor of the worldwide market. For instance, the UAE government recently set up numerous projects, which include Smart Abu Dhabi and Smart Dubai. These projects are aimed at driving digital transformation as well as economic growth in the area. These types of government-backed initiatives can be a significant growth booster in the global market for data center cooling systems.

Industry Trends

The current scenario of deteriorating environment health has prompted companies to opt for sustainable cooling. The latter has the capacity to save close to 80% or more of the total cooling energy costs. To cite an instance, the North Carolina data center facility belonging to Apple functions entirely on eco-friendly, sustainable power sources for cooling the data center. This is achieved via the use of free-air cooling technique, which allows the chillers to remain shut at least 75% of the time.

Furthermore, the mounting pressure from various government agencies, the general public and environmentalists also compels the companies to take green initiatives. Thus, the heightened demand for eco-friendly solutions can propel the growth of the data center cooling systems market.

About Market Research Future

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Global BFSI Security Market Research Report- Forecast 2022, Global Trends, Size, Share, COVID – 19 Outbreak, Industry Segments, Regional Study, Top Key Players Profiles and Future Prospects

 Banking, financial services, insurance (BFSI) Security is now a must for the growing world economy. Reports of Market Research Future (MRFR) suggests that the global market is expected to reach around USD 71 Bn during the forecasted period (2016-2022) growing at a CAGR of 14%. BFSI serves as the foundation for various financial exchanges that take place in diverse sectors and is now an integral part of national infrastructure systems. Hence, the need for the maximum security against possible online or offline theft.

Overview

Online banking platforms are an effective way to process banking transactions remotely. Web-based applications act as a medium for such transactions but also increase the risk of exposing user's data to hackers. Owing to this factor, the demand for BFSI security is expected to rise exponentially. Various banking and financial institutions are now using the cloud services, and in doing so, putting themselves at risk of being exposed. The risk of data theft has made the installation of BFSI security market imperative. Protecting information from the hackers is now the most significant concern and is the chief driving force behind implementation of BFSI security.

Growing away from the traditional system of financial transactions, BFSI has revolutionized customer experience. The rise in remote monitoring and banking solutions is further stimulating the market growth. Other factors such as analytics, biometrics, and ethical hacking have greater possibilities regarding generating revenues. Security and safety measures have given biometrics the much-needed impetus in opening up market possibilities.

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Drivers and Restraints

With an increasing number of ATMs and online banking solutions, BFSI sector has become prone to cyber threats. Falling victim to such threats can hamper the credibility of institutions and create future complications. Hence, the need for specific solutions. Changing financial regulations, growth in mobile banking applications, and the rising number of bank accounts are also expected to boost the market growth.

Physical security threats in this sector have also increased. Several governments have now stepped in with various regulations and policies and insisting on the stringent implementation of adequate security protocols and compliances. These issues are driving the sector towards incorporation of a one-stop solution.

However, the initial investment required to set up the security infrastructure is one major challenge for the growth of this market.

Segmentation

The BFSI Security market has been segmented on the basis of type and vertical.

Based on type, there are two sub-categories - physical security and virtual security. Physical security includes access control, video surveillance, intrusion and fire detection, physical security information management (PSIM), system integration, and various other methods. Physical BFSI security is expected to hold the most significant share within the forecast period. Virtual security deals with encryption, firewall, IDS/IPS, web filtering, data loss protection among others.

Vertical-wise segmentation of BFSI security includes banking, insurance companies, and others. Insurance segment is expected to experience the fastest growth rate owing to tremendous transformation in deregulation, globalization and terror attacks.

Regional Analysis

Region-wise segmentation results in three prominent groups; North America, Europe, Asia Pacific, and Rest-of-the-World (RoW). North America leads the BFSI security market. The last two decades have seen North America getting riddled by various cyber-attacks and as a counter mechanism, they have launched extensive security measures. Presence of global players in the U.S. gives North America a competitive advantage. Europe holds the second position in the market closely followed by the Asia Pacific. The fast growth-rate have made countries, such as Japan, China, Singapore and the UAE easy targets for online hackers, resulting in more demand for advanced security systems and could propel revenue during the forecast period.

Key Players

Major global BFSI security providers are now investing the lion's share of their revenues in exploring newer possibilities to counter the rising cyber threats. Global players, such as Cisco Systems, Inc. (U.S.), Honeywell International, Inc. (U.S.), McAfee, Inc. (U.S.), Symantec Corporation (U.S.), IBM Corporation (U.S.), Dell EMC (U.S.), Axis Communications (Sweden), Bosch Security Systems (Germany), Booz Allen Hamilton Inc. (U.S.), Hewlett Packard Enterprise (U.S.) among others, are doing what is necessary to curb cyber malpractices.

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Data Lakes Market Growth Rate, Future Scope, Analysis, Business Development and CAGR To 2023

 

Global Data Lakes Market Research Report: by Component (Data Discovery, Data Integration & Management, Data Lakes Analytics, Data Visualization), Business Function (Sales, Finance, HR), Organization Size, Deployment, Vertical – Forecast till 2023

Overview

Data lakes refer to a storage repository which holds a vast amount of raw data. Each data element in a data lake is assigned a unique identifier and is tagged with extended metadata tags. In a data lake, data is loaded from all source systems and no data is turned away. Data Lake, the term is increasingly being used to describe any large data pool in which the data requirements are not defined until the data is queried.

Data lakes, unlike data warehouses, can retain all the data, can support all data types and can easily adapt to changes. Owing to these features, data lakes can also provide faster data insights. Data lakes provide various benefits like scalability and can accommodate high speed data. It also offers advanced analytics by utilizing the availability of large quantities of coherent data along with deep learning algorithms which further helps in real-time decision analytics. Data lakes is gaining popularity among enterprises for their increasing data storage needs. In order to meet the growing needs, enterprises have deployed different solutions like Hadoop based big data platforms which can help in building successful data lakes and can retain the entire enterprise data.

According to a recent study report published by Market Research Future, The global market of data lakes is showing high growth and expected to gain prominence over the forecast period 2017-2023. Growing need for business agility and accessibility is one major factor fuelling the growth of data lakes market. Data lakes solutions are used across various business functions such as marketing, finance, sales, operations, and human resource. Operations business function is expected to drive the growth of data lakes market. This is owing to the increasing demand for IoT enabled technologies. These technologies are increasingly implemented in business operations in order to resolve real time issues and streamline the workflow.

On the other hand, data security and privacy concerns are major factors hindering the growth of data lakes market. Other factors such as lack of transformation from traditional techniques and lack of long term data governance could hamper the market growth.

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Key Players:  

Microsoft Corporation (U.S.), Informatica (U.S.), Teradata Corporation (U.S.), Capgemini (France), EMC Corporation (U.S.), Oracle Corporation (U.S.), Zaloni (U.S.), Cloudera Inc. (U.S.), SAS institute (U.S.), SAP SE (Germany), Hitachi (Japan) and ATOS SE (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Data Lakes Market.

Industry/ Innovation/ Related News:

September 2017 – Informatica has announced a new set of solutions and enhancements in the areas of intelligent data lake management and enterprise data cataloguing and data discovery. This will enable organizations to turn data lakes into business value using artificial intelligence (AI) and the cloud to drive intelligent disruption.

November 2017 – Microsoft makes Databricks a first-party service on Azure. Azure users will be able to spin up Databricks with a single click and the service can scale automatically as per the user needs. They also will get access to Databricks’ interactive and collaborative notebooks for building their models and pipelines. This will also provide built-in monitoring and security tools.

November 2017 – Dell EMC Corporation has launched Elastic Data Platform which refers to a series of reference architecture geared for Hadoop and related big data environments. Elastic data platform is available as direct-attached storage on PowerEdge servers, clustered Isilon scale-out NAS, or a managed service via the Dell EMC Virtustream Storage Cloud.

Competitive Analysis

The market of data lakes appears to be competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

Segmentation

The data lakes market can be classified into 4 key segments for the convenience of the report and enhanced understanding;

Segmentation by Structure: Comprises of data sources, Hadoop distribution, data ingestion, data query and data stores

Segmentation by Service: Comprises of data engineering, managed services, support & maintenance and data discovery & visualization

Segmentation by Application: Comprises of Healthcare & life science, Industrial, Banking & finance, government, and media

Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World

Regional Analysis

North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the data lakes market in North America owing to the presence of a large number of established key players such as Microsoft Corporation, Informatica, Teradata Corporation, EMC Corporation and Oracle Corporation among others. Also, the technological advancements and early adoption of data management systems are other factors responsible for driving the growth of data lakes market in the region. Data lakes market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in IT technology and increasing adoption of internet of things applications across countries including China, Japan and India.in the region. Whereas, the Europe market for data lakes is expected to grow at a considerable CAGR (2017-2023).

About Market Research Future

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

 Mobile Device Management Market Research Report, by Vertical (BFSI, Telecommunications, Healthcare), Deployment (Cloud, On-Premise), Type (Solution, Service), Organization Size (Small and Medium Enterprise, Large Enterprise) — Global Forecast till 2023

Market Overview

In its research report, Market Research Future (MRFR), asserts that the global market 2020 is expected to grow exponentially, securing a substantial market valuation and a healthy CAGR over the review period.

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Drivers and Restraints

The growing productivity of both workers and businesses is expected to drive the growth of the market for managing mobile devices. Furthermore, the mobile device management market is powered by increased ownership of tablets and smartphones along with considerable product growth in terms of functionality and new technologies. The overwhelming factor driving growth in the global market for mobile device management is rising productivity for both employees and businesses. Other important factors that drive market growth include rising tablet and smartphone ownership, and tremendous feature and new technology creation of the product. Adoption of new business applications and enterprise-owned software technology & use is expected to drive the demand for mobile device management solutions. In addition, the growing proliferation of bringing your own device (BYOD) phenomenon in organizations is also driving growth in the market for mobile device management. During the forecast period, the solution market segment is projected to hold the biggest share. According to a study conducted in 2016, 40 percent of US workers use their smartphones, laptops and desktops as part of the BYOD movement that ultimately helped companies increase their efficiency and decrease their infrastructure cost.

Nonetheless, the budgetary constraints in implementing mobile device management solutions in small and medium-sized enterprises along with the reluctance of employees to use mobile device management solutions on their personal devices due to privacy concerns are some of the key factors that hinder the market's adoption of mobile device management solutions.

Segmental Analysis

By vertical, the market is segmented into BFSI, government and public sector, media and entertainment, telecommunication, transportation and logistics, retail, healthcare, software and technology, education, manufacturing and others.

By deployment, it is segmented into on cloud and on-premise

By type, it is bifurcated, into service and solutions

By organization size, it is segmented into small and medium-sized enterprise, and large enterprise.

Regional Analysis

The geographical overview of the global market has been conducted in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world.

During the projected period, North America is expected to dominate the market by maintaining a large market share. It is reported that North America has the highest market share on the global economy. In this area, due to technological innovation, the presence of many key market players, the high purchasing power of consumers and more and more people owning mobile devices, the market has been predicted to rise. In this area, the main country-specific markets are the USA, Canada and Mexico. Europe stands second in terms of market share due to rapid adoption of mobile device management solutions within several organizations to safeguard their device data. Given the presence of a large number of mobile and smartphone users in this area, Asia-Pacific is also poised to have a robust growth in this market during the forecast period. Moreover, Asia-Pacific businesses are expecting the adoption of business automation and mobile device management solutions. In countries like India and China, the rising youth, as well as economic development, are driving consumer electronics demand such as smartphones and laptops and contributing to the introduction of mobile device management solutions to protect devices.

Competitive Analysis

The major market players operating in the global market as acknowledged by MRFR are Microsoft (US), BlackBerry (Canada), VMware (US) IBM (US), MobileIron (US), SAP (Germany), SOTI (Canada), Citrix Systems (US), AirWatch (US) and Sophos (UK).

A few trendsetters of mobile device management are 42Gears Mobility Systems (India) and Mitsogo (US). The other players in this market include ManageEngine (US) FiberLink Communications, and Good Technology (US). 

About Market Research Future

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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Augmented Reality and Virtual Reality (ARVR) Market Research Report - Global Forecast till 2025

 Overview

The augmented reality and virtual reality market is catching the trends by surprise all around which ensures a giant leap in terms of valuation in the forthcoming years. Its percolation into industries such as healthcare & life sciences, education, and gaming is based on the demand for experiential enhancement. Many market giants are taking advantage of it to promote their products by installing augmented reality and virtual reality modes in their system. This pervasiveness of the augmented reality and virtual reality market projects a feasible market valuation of USD 767.67 billion by 2025. The report published on the same market by Market Research Future (MRFR) predicts a 73.3% CAGR for the market during the forecast period (2018-2025).

The augmented reality and virtual reality market report further encompasses factors such as probable integration of 5G technology which can surely boost the market, widespread use of head-mounted displays, intrigued marketing strategists, and interested e-commerce companies & retailers. Head-mounted sets are gaining much prominence in the gaming sector that spans from arcade to smartphones. Marketing strategists now find this technology very alluring due to its ability to merge reality with virtual space. This can impact the consumer behavior which is a boon for the market giants. E-companies such as Amazon, eBay, and others are using this technology to reach a wider audience and increase their market base. With the latest 360° VR video technology in the pipeline, sectors such as pilot & driver training, space study, underwater exploration, and surgery are going to be revolutionized.

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Segmentation

The global augmented reality and virtual reality market can be segmented by product type and application.

By product type, the augmented reality and virtual reality market can be segmented into non-immersive systems, semi-immersive projection system, and fully-immersive head mounted systems. Among these, non-immersive systems segment is spearheading the market with a market valuation of USD 3.41 billion in 2018 which can rise with the highest CAGR of 82.4% during the forecast period and reach USD 228.42 billion valuation mark.

Based on application, the augmented reality and virtual reality market comprises education & training, video games, media, tourism, and social media. Video games segment is at present in the charge, and it is going to retain its position with around USD 217.26 billion market worth by 2025. However, it is the education and training sector that is touted to rise by 76.4% CAGR during the forecast period.

Regional Analysis

Geographic consideration of the augmented reality and virtual reality market includes the U.S., Europe, China, Japan, South East Asia, and Central & South America.

The U.S. is the current frontrunner, and its projected market valuation can reach up to USD 307.91 billion by 2025 with the fastest CAGR of 78.3% during the forecast period. The region has several market titans who compete well to stay ahead and, in the process, ensures market growth. Furthermore, regional supremacy in terms of technology and its proliferation in connected sectors have allowed the market to expand more than the rest.

China assumes the second spot at present. However, it can lose its ground to Europe by 2025 by reaching a valuation of USD 168.58 billion compared to USD 170.04 billion valuation of Europe. China is benefitting from the infrastructure and developing industrial sector. It can expect to rise by 65% CAGR during the forecast period. Europe is fast catching up with the trend and can surpass China’s market valuation with 77.6% CAGR during the forecast period.

Competitive Insights

Prominent players making a mark in the augmented reality and virtual reality market are Sony Corporation (Japan), Microsoft Corporation (U.S.), Zapper Limited (U.S.), awe.org Pty Ltd. (Australia), Wikitude GmbH (Austria), Virtalis Limited (U.K.), Blippar.com (U.K.), EON Reality Inc. (U.S.), DAQRI LLC (U.S.), Facebook Inc. (U.S.), Google LLC (U.S.), HTC Corporation (Taiwan), Augmented Pixels Inc. (U.S.), Terminal Eleven (SkyView), Samsung Group (South Korea), and HP Inc. (U.S.). Strategies employed often involve mergers, acquisitions, product launches, and other methods. These tactical moves ensure individual company’s growth and market’s expansion.

In November 2018, Google’s acquisition of Workbench, a company with expertise in the online library of lessons and projects, marks Google’s expansion plans in the education and training sector.

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https://www.spoke.com/topics/real-time-location-system-rtls-market-size-share-current-trends-industry-demand-regional-outlook-and-forecast-to-2028-60472b6f20935275eb005a21