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Monday, June 14, 2021

Third-party Risk Management Market Business Revenue, Future Scope, Market Trends, Key Players and Forecast To 2027

Global Third-party Risk Management Market Research Report: by Component (Solution (Finance Management, Compliance Management, Audit Management, Operational Risk Management), Services (Professional, Managed)), By Deployment (On-premise, On-cloud), By Organization Size (SMEs, Large Enterprises), By Vertical (BFSI, Healthcare, Government, IT and Telecommunication, Retail, Manufacturing), by Region (North America, Europe, Asia-Pacific, Middle East, and Africa, South America) - Forecast till 2027

Market Summary

The Global Third-Party Risk Management Market was valued at USD 2.85 billion in 2018 and is estimated to reach USD 8.18 billion by 2027 growing at a CAGR of 16.87% during the forecast period 2020–2027. Market Research Future (MRFR) has segmented the third-party risk management market on the basis of component, deployment, organization size, vertical, and region.

By component the third-party risk management market has been segmented into solution and service. By solution, the market has been sub-segmented into finance management, contract management, compliance management, operational risk management, and audit management. By service, the market has been sub-segmented into professional and managed services. Among solutions, finance management is dominating the solutions market due to the increasing adoption of advanced solutions by organizations in order to optimize their operational efficiency. Whereas, compliance management market is projected to witness the highest growth rate during the forecast period.

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By deployment, the third-party risk management market has been segmented into on-premise and on-cloud. Among these, currently, on-cloud is dominating the market and is expected to witness a faster CAGR during the forecast period due to its benefits over on-premise solutions such as low budget required for developing IT infrastructure and easy deployment and accessibility.

By organization size, the market has been segmented into small- and medium-sized enterprises and large enterprises. Among these, the large enterprise segment is currently dominating the market due to the increasing need to safeguard the huge volume of sensitive information present on-premise as well as on cloud platforms. Also, large enterprises have sufficient IT spends to enhance their digital presence, which further fuels market growth.

By vertical, the market has been segmented into BFSI, IT and telecommunication, healthcare, government, retail, and manufacturing among others. Among these, BFSI is currently dominating the market due to the high demand for information security and the increasing adoption of digital and cloud technologies, whereas, the retail vertical is projected to grow at the fastest CAGR during the forecast period.

By region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Spain, Norway, Benelux, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines. The Middle East and Africa have been further segmented into Saudi Arabia, Israel, Turkey, and South Africa and South America has been classified into Brazil, Peru, Chile, and Argentina.

Key Players

The Global Third-Party Risk Management Market is expected to grow in the coming years owing to the presence of numerous large players active in the regional market. RSA Security LLC (US), Genpact (US), Cisco Systems (US), Deloitte (US), KPMG (The Netherlands), BitSight (US), Alyne GmbH (Germany), Prevalent Inc. (US), OneTrust (US), Aravo Solutions, Inc. (US), Venminder (US), Riskpro (India), and ProcessUnity, Inc (US) are the companies leading the third-party risk management market.

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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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System Monitoring Market Outlook and Future Scope Analysis and Forecast Till 2027

Global System Monitoring Market Research Report: By Component (Solution [Application Monitoring, Server Monitoring, Network Monitoring, Cloud Monitoring, Others], Service [Professional Service and Managed Service]), Deployment Type (On-Premise and Cloud), Organization Size (Large Enterprise and Small & Medium-Sized Enterprise), Vertical (Banking, Financial Services and Insurance, IT & Telecom, Government, Energy and Utilities, Healthcare, Manufacturing and Others), Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) - Forecast till 2027

Market Synopsis

In its research study, Market Research Future (MRFR), emphasizes that over the forecast period, the global market 2020 is projected to rise exponentially, achieving a significant market valuation that surpasses USD 3.27 Billion recorded in 2018 and a healthy 10.6% CAGR over the review period.

Drivers and Restraints

Growth in outsourced IT infrastructure management and the need for accountable and compliance-based use of the framework are major factors that drive market development. Another main factor driving the global device monitoring market is the need for better optimisation of business operations. In addition, a lack of knowledge about device monitoring is expected to present a challenge to this market's growth. The concerns about data protection and privacy, as well as concerns about the use and access of intellectual property, are factors that restrict market development.

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Segmental Analysis

The global system monitoring market has been analysed based on component, organization size, deployment type, vertical, and region/country.

Based on the component, the global system monitoring market has been bifurcated into solution and services. The solution segment has been classified as network monitoring, application monitoring, server monitoring, cloud monitoring, and others. The services segment has further bee divided into professional services and managed services.

Based on the deployment type, the global system monitoring market has been bifurcated into cloud and on-premise.

Based on the organization size, the global system monitoring market has been bifurcated into small- and medium-sized enterprise (SME) and large enterprise.

Based on the vertical, the global system monitoring market has been divided into IT & telecom, banking, financial services and insurance, government, energy and utilities, manufacturing, healthcare, and others.

Regional Analysis

The global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.

North America has the largest market share as the corporations in this area have been world leader in technology advancement. Because of the rapid implementation of digital transformation, the US leads the market in North America; as a result, the country's need for accountable and compliance-based program use is rapid.

Owing to the strong demand for better optimisation of business operations between companies across verticals and managed service providers, Europe is projected to be the second-largest market during the review period.

During the forecast period Asia-Pacific is projected to be the fastest-growing region on the global device monitoring region. Growth in outsourced IT infrastructure management is key driver of Asia-Pacific market growth.

Competitive Analysis

The key market players operating in the global market as identified by MRFR are SolarWinds (US), ConnectWise Automate (US), Monitis.com (US), NinjaRMM (US), Continuum Managed Services (US), CA Technologies (US), Kaseya (Ireland), Oracle Corporation (US), Ipswitch (US), Red Gate Software Ltd (UK), Paessler AG (Germany), New Relic, Inc. (US), Microsoft Corporation (US), Nagios Enterprises, LLC (US), and Site24x7 (US). The major strategies implemented by most of the players are agreements, partnerships, and collaborations.

The other players in the Global System Monitoring Market include Panopta LLC (US), ScienceLogic (US), Datadog (US), ThousandEyes (US), and Exoprise Systems Inc. (US).

The global market for monitoring systems is experiencing a high growth as demand from various verticals such as business, energy and utilities, and IT and telecommunications is increasing. Major players have opted for alliances and new product development as their main strategies for organic growth to improve their market position and meet end-user demands across verticals.

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LTE & 5G Broadcast Market Demand, Industry Size, Top Players, Opportunities, Sales, Revenue and Regional Forecast To 2027

Global LTE & 5G Broadcast Market Research Report: By Technology (LTE Broadcast and 5G Broadcast), By End-use (Video on Demand [VOD], Mobile TV, Connected Cars, Emergency Alerts, Stadiums, E-Newspapers and E-Magazines, Fixed LTE Quadruple Play, Last Mile Content Delivery Network [CDN], Radio, Data Feeds & Notifications, and Others), and By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2027

Market Overview

According to Market Research Future, the Global LTE and 5G broadcast market has been segmented based on technology, end-use, and region/country.

The global LTE & 5G broadcast market size is expected to register an steady CAGR of 12.3% and is expected to reach USD 1,058 million by 2027.The term ‘broadcasting’ refers to distribution of same content to multiple users simultaneously over a network. For instance, say LTE broadcast technology that enables distribute single stream of data to all the end-users connected to its network. 3GPP (or 3rd Generation Partnership Project [3GPP]) has developed a number of protocols for mobile communications among one of them is evolved Multimedia Broadcast Multicast Service (eMBMS) standard for video broadcast over the mobile networks.

5G or Fifth Generation of wireless standard that enables connecting everything everywhere, catering to the ever rising demand for rapid digitization and faster data transmission. 5G enables connect car, home, office, and communicate across the city with upto 100 times faster data transmission speeds when compared to its predecessor- 4G, which was meant for mobile broadband services. Additionally, the 5G wireless technology is expected to support over a million devices in an area of 1 sq. km. much higher than 4G. With the evolution of this technology, broadcasting was one of the earliest identified end-use application of 5G. 5G is expected to generate new streams of revenue such as new broadcast and multicast capabilities.

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The Global LTE and 5G broadcast market has been segmented based on technology, end-use, and region.

By technology, the global LTE & 5G broadcast market has been divided into LTE broadcast and 5G broadcast. LTE broadcast technology is based on the 3GPP or also called as evolved Multimedia Broadcast Multicast Service (eMBMS) standard (a global standard for video broadcast over a mobile network). A specified spectrum is allocated to broadcast operators to cast specific content delivering mission critical communication, device updates, music/audio broadcasting, public safety information, and other applications. On the other hand, 5G broadcast promises to cater new broadcast and multicast abilities such as in-moving car experience through media &entertainment, OTA updates, navigation, live streaming of commerce & online learning content, and so on.

By end-use, the global LTE & 5G broadcast market has been divided into videoon-demand [VOD], mobile TV, connected cars, emergency alerts, stadiums, e-newspapers &e-magazines, fixed LTE quadruple play, last mile content delivery network (CDN), radio, data feeds & notifications, and others. LTE & 5G broadcasting applications for instance emergency alerts in case of earthquake early warning system that enables authorities to reach many people within a short span of seconds or minutes once message is broadcasted.

The global LTE and 5G broadcastmarket has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Regional Analysis

By region, the Global LTE and 5G broadcast market has been segmented into North America, Europe, Asia-Pacific, the Middle East &Africa,and South America. North America is expected to be the dominating region in terms of the adoption of LTE & 5G broadcast technology owing to the heavy investments across the end-use applications including Video on Demand, Mobile TV, Stadiums, Radio, Emergency Alerts, and so on. For instance, ENENSYS Technologies (France) has partnered with Edge Networks to provide innovative hybrid over-the-air NEXTGEN TV services in the region.North American market has been segmented into the US, Canada, and Mexico.The US is expected to lead the country-level market, while Canada is projected to be the fastest-growing segment during the forecast period. The USmarket is expected to report the highest market share, owing to the leading market position in terms of 5G broadcast networks deployed for various end-uses especially data feeds & notifications, connected cars, mobile TV, emergency alerts, stadiums, radio, among others.

Key Players

The key players in theGlobal LTE and 5G broadcastmarket areQualcomm Technologies, Inc. (US), SAMSUNG (South Korea), Cisco Systems, Inc. (US), Huawei Technologies Co., Ltd. (China), ZTE Corporation (China), Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), NEC Corporation (Japan), ENENSYS Technologies (France), Athonet srl (Italy),AT&T (US), Intel Corporation (US), SPINNER GmbH (Germany), Sierra Wireless (Canada), and Rohde & Schwarz (US).

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Global Time-Sensitive Networking Market Business Revenue, Future Scope, Market Trends, Key Players and Forecast To 2027

Global Time-Sensitive Networking Market Research Report: Information based on types of Standards (IEEE 802.1AS, IEEE 802.1 Qca, IEEE 802.1AS-Rev, IEEE 802.1Qbv, IEEE 802.1 Qci, IEEE 802.1 CB, IEEE 802.1 Qcc, IEEE 802.1Qch, and IEEE 802.1 CM), based on Component (Switches, Hubs, routers, and gateways, Controller and processors, Isolators and convertors, Connectors, Communication interfaces, Power supply devices, Memory, and Others), based on Application (Industrial automation, Power and energy, Automotive, Transportation, Oil & gas, Aerospace, and Others), and based on Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)- Forecast till 2027

Overview

The global time-sensitive networking market is register USD ~79.9million in 2019, registering a CAGR of ~53.87% during the forecast period. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse into the coming years

The global time-sensitive networking market has been segmented based on technology, component, applications, deployment mode, organization size, vertical, and region.

Based on types of standards, the global time-sensitive networking market has been divided intoIEEE 802.1AS , IEEE 802.1 Qca , IEEE 802.1AS-Rev , IEEE 802.1Qbv , IEEE 802.1 Qci , IEEE 802.1 CB , IEEE 802.1 Qcc , IEEE 802.1Qch , and IEEE 802.1 CM . The IEEE 802.1AS segment specifies the management of coordinated time during regular service as well as during the installation, loss, or breakdown of network elements, as well as network reconfiguration. The IEEE 802.1 Qca segment provides clear route management, bandwidth and stream reservation, data flow replication (protection or restoration), and control parameter delivery for time synchronisation and scheduling. The IEEE 802.1AS-Rev segment defines the mechanism and protocols used to ensure that time-sensitive processes, such as audio, video, and time-sensitive power, are synchronised across networks. The IEEE 802.1Qbv segment describes time-aware queue-draining methods, managed objects, and extensions to existing protocols that allow bridges and end stations to arrange frame transmission based on IEEE Std 802.1AS timing. The IEEE 802.1 Qci segment defines procedures and controlled objects for a bridge to use to perform frame numbering, scanning, policing, and service type collection for a frame dependent on the data stream to which the frame belongs, as well as a coordinated cyclic time schedule. The IEEE 802.1 CB segment identifies processes, managed objects, and protocols for bridges and end systems that provide packet recognition and replication for redundant transfer, duplicate packet identification, and duplicate packet elimination. The IEEE 802.1Qch segment defines coordinated cyclic enqueuing and queue draining processes, controlled artefacts, and extensions to existing protocols that enable bridges and end stations to synchronize frame transmission with zero congestion loss and deterministic latency.

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Based on component , the global time-sensitive networking market has been divided into switches , hubs , routers , and gateways , controller and processors , isolators and convertors , connectors , communication interfaces , power supply devices , memory , and others . Time sensitive networking switches enables modern technologies and helps satisfy new demands by cost-effectively scaling network bandwidth to connect more locations. Time sensitive networking routers enable fast setup, seamless connectivity, and a centralized monitoring system. The Time sensitive networking controller and processors time sensitive networking enable data-driven industrial operations. The time sensitive networking communication interfaces helps to transfer data deterministically.

Based on application, the global time-sensitive networking market has been divided into industrial automation, power and energy, automotive , transportation , oil & gas , aerospace , and others.

Competitive Analysis

The key players of the global time-sensitive networking market areCisco Systems , Inc. ( US ), NXP Semiconductor N.V. ( Netherlands ) , Marvell Technology Group Ltd. ( US ) , Microsemi Corporation ( US ) , Intel Corporation ( US ) , National Instruments Corporation ( US ) , Xilinx , Inc. ( US ) , Analog Devices , Inc. ( US ) , Broadcom Limited ( Singapore ) , Belden Inc. ( US ) , Renesas Electronics Corporation ( Japan ) , and TTTech Computertechnik AG ( Austria ) .

Regional Analysis

The regional analysis for the global time-sensitive networking market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. The market in North America accounted for the largest market share in 2019, and it is expected to register strong growth during the forecast period. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. This growth can be attributed to the growing adoption of time-sensitive networking solutions among the various verticals.

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Property Management Market Comprehensive Analysis, Business Opportunities, Development Strategy, Global Trends and Forecast

Global Property Management Market Research Report: By Component (Solution, Services), By Deployment (On-Premise, Cloud), By Application (Residential, Commercial), By End-user (Property Manager/Agent, Housing Association) By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa) - Forecast till 2027

Overview

Global Property Management Market is expected to reach USD 21.4 Billion by 2027, registering a CAGR of 7.3% during the forecast period 2020–2027. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the upcoming years.

Increasing demand to efficiently manage the property portfolios among property managers is driving the overall market of property management systems. Moreover, growing demand for SaaS-based solutions and increasing investment in various technologies by property managers is driving the market. Property management solution is a software tool that helps the users in managing, monitoring, and analyzing various aspects of commercial or residential properties. These aspects include document and lease, tenant’s rent, asset management, and financial accounting. Property management solutions can be deployed on-premise or on cloud. The solution can also be integrated with the existing legacy software like Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) to provide more comprehensive insights to the end-users. Vendors operating in the market offer comprehensive property management solutions with advanced features like predictive analytics. For instance, IBM uses the capabilities of Watson analytics to provide insights about various trends like rent value, paying trend of tenants or business among others. A number of property managers and property management companies have been deploying these advanced property management solutions to improve and streamline their business operations. For instance, Liberty Management Inc., a property management firm providing its services in the San Antonio area in Texas, US, has been in partnership with AppFolio for eight years. AppFolio provides property management software to the company.

The adoption of property management is specifically increasing among property managers due to the flexibility it offers to them. Also, with the entry of various property management providers in the market, property managers have numerous vendors to evaluate before selecting the one, which in turn is intensifying competition in the market. Also, with the introduction of more affordable and comprehensive solutions in the market, the popularity of property management solutions has increased. All these developments have helped the market to grow at a significant pace in recent years and this trend is expected to continue in the upcoming years as well.

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Segmental Analysis

The Global Property Management Market has been segmented on the basis of Component, Deployment, Application, End-User, and Region.

Based on component, the property management market has been segmented into solution and services. The service segment has been further categorized into integration services, consulting services, and training and maintenance services. The solution component segment held the larger share in the year 2018 and is expected to remain so in the forecast period as well. In order to efficiently manage the property portfolio, property managers are significantly deploying property management solutions. Additionally, vendors operating in the market offer various features as a part of their property management solutions that help property managers and property management companies to streamline their overall business operations. For instance, SAP SE’s property and real estate management solution is a web-based tool that offers real-time integration with SAP ERP and SAP S/4HANA. The solution also offers real estate analytics that helps property managers as well as owners to take effective decisions about property location and property value.

Based on deployment, the market has been segmented into on-premise and cloud-based solution. The cloud-based property management solution held the larger share in the year 2018 and is expected to remain so in the forecast period. Cloud-based property management solution is affordable, scalable, and flexible thereby making the solution widely popular among small and mid-sized property managers.

Based on the application, the property management market has been divided into residential and commercial. Moreover, commercial sub-segment has been further categorized as retail, hospitality, office spaces, and others. The commercial application segment is expected to grow at the highest CAGR in the forecast period due to increasing demand for rental offices in the coming years. Based on end-user, the property management market has been segmented into property manager/agent and, housing association. The property manager end-user segment accounted for the larger share in the year 2018. A large number of property managers are deploying cloud-based solutions to effectively manage their day to day business operation which is expected to increase the demand for these solutions in the coming years.

Competitive Analysis

The prominent players operating in the property management market are Skyline property management, Re-Leased Software Company Ltd., Rosmiman Software Corporation, MRI Software LLC, Buildium, Yardi Systems, Inc., AppFolio, Inc., IBM, Oracle, SAP, Trimble Inc., RealPage, Inc., Accruent, Spacewell, and Chetu Inc.

Regional Analysis

The regional analysis for the global property management has been done for North America, Europe, Asia-Pacific (APAC), and the Middle East & Africa, and South America.

The market in North America accounted for the largest market share in 2018, and it is expected to register strong growth during the forecast period. The key driving factors for the growth of the property management market in the region include the growing demand for property management solutions among property managers operating in the US, Canada, and Mexico.

The market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. For the purpose of analysis, Asia-Pacific has been categorized into China, Japan, India, and the rest of Asia-Pacific. This growth can be attributed to the growing investment by property managers and property management firms in various technologies such as property management software, electronic payment solution, accounting and bookkeeping tools, electronic lease among others.

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Online Meeting Software Market Outlook, Strategies, Industry Analysis, Future Scope, Key Drivers Forecast To 2027

Global Online Meeting Software Market Research Report: by Component (Software, Services), by Deployment (Cloud-based, On-Premise), by Organization Size (Large Enterprise, SMEs), by End-User (BFSI, IT & Telecom, Government, Healthcare, Manufacturing and others) and by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

Market Highlights

The Global Online Meeting Software Market is expected to register a CAGR of 11.1% during the forecast period of 2020–2027. There are various factors contributing to the growth of the global online meeting software such as the increasing digitalization and urbanization which is increasing the adoption of online meeting software among the enterprises to reduce the distance between the clients globally.

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Regional Analysis

The global online meeting software market is estimated to grow at a significant rate in the future. The geographical analysis of online meeting software market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

North America dominates the global online meeting software market, by region, due to the early adoption of the web conferencing services and online meeting. Additionally, there are various companies present in the region who offers various online meeting software and services which is driving the growth of the market. Additionally, high internet speed and developed infrastructure which increases the demand for the online meeting software market in the region. The US accounts the largest market share in the region due to presence of various industries and end-users in the region who are using these software and services such as BFSI, IT & telecom, government agencies, and others. Whereas, Canada is expected to be the fastest-growing country in the region during the forecast period.

Europe accounts the second-largest market share in the online meeting software market due to presence of various industries such as automotive, BFSI, IT & telecom, and others which is driving the market. Additionally, the presence of various countries such as the UK, Germany, France, Italy, and others in the region are the major contributors in the global online meeting market. Additionally, the increasing ownership of smartphones has also accelerated the market growth in the region as the users can attend the web conference with smartphones irrespective of their location.

Asia-Pacific is expected to be the fastest-growing region during the forecast period due to increasing advancement in terms of technology, urbanization, and digitalization. The present companies and upcoming startups are adopting online meeting software to increase their client conversion. Additionally, the SMEs and large enterprise are also using this software to reduce their spend on travel and increase the productivity and efficiency of the work without spending much on traveling. China is expected to be the dominating country in the region whereas India is accounted to be the fastest-growing country during the forecast period.

Rest of the world is segmented as South America and Middle East & Africa is expected to be growing with a significant CAGR during the forecast period due to development of infrastructure and investments made by various industries in the region. Additionally, the subsidiaries and startups are using smartphones for online meeting to conduct training and conferencing.

Key Players

MRFR recognizes the key players in the global online meeting software market Nextiva (US),RingCentral, Inc. (US), Jive Communications (US), Vonage (US), Dialpad, Inc. (US), 8x8, Inc. (US), Ooma, Inc. (US), FluentStream Technologies, LLC (US), Zoho Corporation Pvt. Ltd. (India), Zoom Video Communications, Inc. (US), LogMeIn, Inc (US), Cisco Systems (US), Amazon Web Services, Inc. (US), IBM Corporation (US), Microsoft Corporation (US) among others.

The prominent players keep innovating and investing in research and development to offer a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities emphasize strengthening their reach to the customers.

Key Segments

The global online meeting software market has been segmented based on component, deployment, organization size, end user, and region.

By component, the market has been segmented into software and services.

By deployment, the market has been segmented into cloud-based and on-premise

By organization size, the market has been segmented into large enterprises and SMEs.

By end user, the market has been segmented into BFSI, IT & telecom, government, healthcare, manufacturing, and others

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Computer-Aided Design (CAD) Market Trends, Global Analysis with Focus on Opportunities, Sales Revenue, Comprehensive Plans, Growth Potential & Forecast till 2027

Global Computer-Aided Design (CAD) Market Research Report: By Technology (3D and 2D), by Component (Solution, Services [Installation, Training and Implementation, System Integration and other Support Services]), By Deployment Mode (Cloud, On-Premise), Application (Surface Modelling, 3D printing, Reverse Engineering, Part Assembly), Industry (Automotive, Electrical and Electronics, Civil and Construction, Energy and Materials, Industrial Equipment and Media and Entertainment) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) - Forecast till 2027

Market Highlights

According to MRFR analysis, the Global CAD Market was valued USD 7.47 Billion in 2020 and is expected to reach USD 14.18 Billion by 2027, at a CAGR of 10.0 % during 2019–2025. Factors driving the growth of the market include rising government initiatives to develop smart cities that allows real-estate sector to build smart space buildings and infrastructure, rise in adoption of cloud-based 3D CAD software, 3D modeling in public infrastructure that includes energy and utilities and construction, and adoption of 3D printing in manufacturing sectors. Additionally, the integration of 3D CAD tools with virtual reality is expected to be one of the new revenue pockets for the CAD market during the forecast period.

On the other hand, the adoption of building information modeling (BIM) solutions and cloud-based CAD solutions may eventually lead to data breaches; these are likely to hinder the growth of the CAD market during the forecast period.

Segmental Analysis

The global CAD market has been segmented based on technology, component, deployment mode, application, industry, and region.

Based on technology, the CAD market is bifurcated into 3D technology and 2D technology. The 3D technology segment is expected to gain a larger market share in 2018 and expected to exhibit a higher CAGR during the forecast period. The market growth is attributed to better functionalities offered by 3D than 2D technology. This allows the engineers to develop rapid prototypes of the working models of a part followed by evaluating designs before the models are passed for large-scale manufacturing. However, the 2D technology is expected to register sluggish growth during the forecast period.

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By component, the global CAD market has been bifurcated into solutions and services. Furthermore, based on services, the CAD market has been subdivided into installation services, training and Implementation services, system integration services, and other support services. The solution segment is expected to be the higher market share in 2018 and is expected to grow at a significant rate during the forecast period. However, the services segment is expected to exhibit a higher CAGR during the forecast period owing to a lack of expertise in installing and implementing the 3D and 2D software. Also, dependence on third-party providers and an increase in the need for customized solutions are likely to drive the services segment in the CAD market during the forecast period.

By deployment model, the market has been segmented into cloud and on-premise. The cloud segment is presumed to be the higher growth rate in the market owing to the availability of seamless cloud-based solutions that can be easily integrated with various applications such as surface modeling and 3D printing segments. However, the on-premise segment is being still preferred over the cloud solution owing to security concerns.

Based on application, the market has been segmented into surface modeling, 3D printing, reverse engineering, part assembly, and others. Furthermore, the 3D printing segment accounted for the largest share in 2018 and is expected to register the highest CAGR. Increasing demand for better visualization experience and reduction in manufacturing cost and process downtime are some of the driving factors for the growth of the market, whereas the surface modeling segment is expected to exhibit a significant CAGR during the assessment period.

Based on industry, the global CAD market has been categorized into automotive, electrical and electronics, civil and construction, energy and materials, industrial equipment, media and entertainment, and others. The automotive segment accounted for the largest market share in 2018 owing to the increase in demand for developing a rapid prototype of the parts, thereby moving to large-scale production. This would eventually reduce the maintenance & repair costs and increase the efficiency of the product. However, the electrical and electronics segment is projected to register the highest CAGR during the forecast period. The market growth is due to the greater demand for flexible and wearable electronics products that require a flexible design in developing miniaturized electronic products.

Key Players

The key players in the Global CAD Market are identified by MRFR include Autodesk, Inc (US), Siemens PLM Software (France), Corel Corporation, (Canada), ANSYS, Inc (US), Trimble Inc (US), SmartDraw, LLC (US), PTC (US), ZWSOFT CO., LTD (China), Gstarsoft Co.,Ltd. (China), Encore Software (US), Hexagon AB (Sweden), Dassault Systèmes (France), Bentley Systems, Incorporated (US), Graebert GmbH (Germany), TurboCAD (US), and CAD International (Australia).

Regional Analysis

By region, the global CAD market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

North America accounted for the largest market in 2018. The market in the region is driven by the US and Canada owing to the early adoption of cloud-based tools and the presence of a number of vendors offering enhanced CAD solutions that include Autodesk Inc, and Trimble Inc.

Asia-Pacific gained the third spot in the CAD market due to the increasing number of startups offering services in the emerging economies that include Indonesia, China, and India and government initiatives in developing smart infrastructure.

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