Chatbot Market to Penetrate Untapped Regions During the Forecast Period: Grand View Research Inc.

The global chatbot market is expected to reach USD 1.25 billion by 2025, growing at a CAGR of 24.3%, according to a new report by Grand View Research, Inc. The chatbot industry is expected to witness significant growth over the forecast period as they enable enterprises to substantially reduce operating costs. Additionally, innovations in artificial intelligence and machine learning technologies are likely to enhance the features of chatbots, which acts as a major driver for the market.

A significant rise has been observed in the number of users of messaging services, which is expected to surpass the number of users of social networking sites. Additionally, there has been a significant development in the NLP field, which has resulted in streamlined interactions between computers and human languages. The entire chatbot ecosystem comprises various cross-linking features, which facilitates enhanced performance of chatbots in all application. Most companies prefer in-built chatbots on their websites as they facilitate enterprises in providing instant customer interaction. For instance, Slack and Twitter messaging platforms are preferred by majority businesses.

North America is expected to emerge as the major region for the chatbot market over the forecast period. The growth in this region is mainly attributed to the increasing deployment of chatbots in various business verticals. Technologies such as artificial intelligence, IoT, and APIs, among others, are evolving at a rapid speed. Chatbots are integrated with these technologies to offer enhanced operations, thereby driving market demand. Artificial intelligence and audio speech-based chatbots are expected to account for the largest market share in future. Additionally, speech recognition has improved drastically, especially in terms of native languages, which is expected to result in enhanced performance of chatbots in various applications.

Access Research Report of Chatbot Market

Further key findings from the report suggest:

·       Chatbots find various applications in e-commerce, healthcare, and BFSI sectors. Large enterprise emerged as the largest end-user segment in 2016 and is estimated to register a CAGR of 24.2% over the forecast period.

·       The bots for marketing segment is expected to witness the largest growth over the forecast period as these chatbots can connect the customers directly to service providers.

·       The standalone segment is estimated to grow at a CAGR of 24.8% over the forecast period.

·       The Asia Pacific market is projected to witness substantial growth over the next decade owing to various technological developments across major economies. The regional market is expected to grow at a CAGR of 24.7 % from 2017 to 2025.

·       Key participants in the chatbot industry include Baidu, Poncho, Kik, WeChat, Varo Money Inc., Babylon Health, ReplyYes, and SRI International. Chatbots have found wide applications in large enterprises as they enable better understanding of consumer behavior with the help of machine learning.

Grand View Research has segmented the chatbot market based on end users, applications/business models, types, product landscape, verticals, and regions:

End User Outlook (Revenue, USD Million; 2014 - 2025)

·         Small Enterprises

·         Medium Enterprises

·         Large Enterprises

Application/Business Model Outlook (Revenue, USD Million; 2014 - 2025)

·         Bots for Service

·         Bots for Social Media

·         Bots for Payments/Order Processing

·         Bots for Marketing

·         Others

Type Outlook (Revenue, USD Million; 2014 - 2025)

·         Standalone

·         Web-based

·         Messenger-based/Third Party

Product Landscape Outlook (Revenue, USD Million; 2014 - 2025)

·         Artificial Intelligence

·         Marketing

·         Human Intelligence

Vertical Outlook (Revenue, USD Million; 2014 - 2025)

·         Healthcare

·         Retail

·         Banking, Financial Services, and Insurance (BFSI)

·         Media & Entertainment

·         Travel & Tourism

·         E-commerce

·         Others

Regional Outlook (Revenue, USD Million; 2014 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         South America

·         MEA

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Wearable Technology Market to Exhibit Impressive Growth During the Forecast Period

The Report Wearable Technology Market Analysis By Product (Wrist-Wear, Eye-Wear, Foot-Wear, Neck-Wear, Body-Wear), By Application (Fitness & Wellness, Healthcare, Infotainment, Defense, Enterprise And Industrial) And Segment Forecasts To 2022

The global wearable technology market is anticipated to reach USD 196.5 billion by 2022, according to a new study by Grand View Research, Inc. Research and development investment by large number of industry player is expected to fuel growth over the forecast period.

Increasing disposable income worldwide is expected to fuel industry growth over the forecast period. Technological advancement, price, quality, and battery life influence the buying decision of the end-users. The emergence of 3D printing solution and crowd funding is expected to positively impact the wearable technology market.

Increasing smartphone penetration worldwide is expected to propel industry growth over the forecast period, owing to increasing wearable device compatibility. Advancement in semiconductor electronics is expected to favor more efficient and effective products, thereby fuel revenue growth over the next seven years.

Various health and economic benefits are expected to contribute to overall industry development. For instance, advertisement agencies can bring down research cost through the use of eye-wear, which can allow enhanced data collection of customers’ feedbacks. Low battery life and high cost of some of the devices may hinder the industry growth over the forecast period. Data privacy concern may also adversely affect the industry demand.

Access Research Report of Wearable Technology Market  

Further key findings from the study suggest:

·       The global industry is innovation driven and continuously evolving. The products available in the market include wrist-wear, neck-wear, body-wear, eye-wear and foot-wear. Companies such as Nike, Garmin, GOQii are offering wrist-wear for fitness and sport and healthcare application.

·       Applications include healthcare, fitness and wellness, infotainment, enterprise and industrial, and defense. Increasing concern about fitness and health among urban population is anticipated to drive demand over the forecast period. Advancement in virtual reality technology is expected to favor the infotainment segment over the next seven years. Government initiative to enhance their defense capability and provide soldiers with advanced technology is anticipated to drive investment in this sector.

·       North America wearable technology market is estimated to be the key regional segment and is anticipated to grow at a CAGR of around 32% over the next seven years. Increasing in awareness about the benefit of this technology will drive demand in Asia Pacific over the forecast period. Asia Pacific is expected to be key component manufacturing hub over the forecast period owing to availability of cheap resources. The region was valued over USD 3 billion in 2014, and is expected to grow at a CAGR of over 36% from 2015 to 2022.

·       Companies operating in the industry include Apple Inc., Adidas AG, Garmin, Fitbit, Nike, Inc., Google Inc., Jawbone, Sony Corp, Samsung Electronics Co. Ltd., and Xiaomi. In March 2014, Google Inc. launched Android operating system for wearable technology. CuteCircuit Technologies is a company that designs and develops wearable garments for both men and women.

Grand View Research has segmented the wearable technology market on the basis of product, application and region:

Wearable Technology Product Outlook (USD Billion, 2012 - 2022)

·         Wrist-wear

·         Eye-wear

·         Foot-wear

·         Neck-wear

·         Body-wear

·         Others

Wearable Technology Application Outlook (USD Billion, 2012 - 2022)

·         Fitness and sports

·         Healthcare

·         Infotainment

·         Defense

·         Enterprise and industrial

Wearable Technology Regional Outlook (USD Billion, 2012 - 2022)

·         North America

·         Europe

·         Asia Pacific

·         RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Embedded Systems Market Predicted to Cross USD 214.39 Billion by 2020

The Report Embedded System Market Analysis By Product (Hardware, Software), By Application (Automotive, Telecommunication, Healthcare, Industrial, Consumer Electronics, Military & Aerospace) And Segment Forecasts To 2020

The global embedded systems market is expected to reach USD 214.39 billion by 2020, according to a new study by Grand View Research, Inc. Favorable regulatory scenario for installation of smart devices such as smart meters is expected to drive global embedded system demand over the forecast period. Growing adoption and evolution of the Internet of Things (IoT) driven by technological advancement is also expected to fuel the industry over the next six years.

Increasing demand for end-use industries such as healthcare and consumer electronics is expected to positively impact the embedded systems market. Key requirements for an efficient embedded system include high degree of reliability and responsiveness as well as low cost, since these devices are embedded in safety critical systems. Decreasing prices of microcontrollers, which are a key component of embedded hardware, is expected to give impetus to the market in the coming years.

Access Research Report of Embedded Systems Market

Further key findings from the study suggest:

·       Embedded hardware is expected to remain the dominant product segment and accounted for 93.8% of the global market in 2013. It includes Digital Signal Processors (DSP), microprocessors as well as microcontrollers. Embedded software is expected to grow at the fastest rate of 8.1% from 2014 to 2020.

·       Automotive is expected to continue leading the global market; the segment accounted for 20.8% of the overall market share in 2013. This can be attributed to the high electronic content in automotives coupled with growing focus on Hybrid Electric Vehicles (HEV) for energy efficiency. The market for healthcare applications is expected to be the fastest growing, at a CAGR of 7.1% from 2014 to 2020.

·       North America accounted for over 34% of the global market in 2013, and is expected to remain the largest regional market over the next six years. The market in Asia Pacific is marked by the presence of semiconductor fabrication plants such as the Taiwan Semiconductor Manufacturing Company (TMSC); the region also comprises a significant number of skilled professionals. As a result, the market in this region is expected to grow at a CAGR of 6.7% from 2014 to 2020, faster than the global average.

·       Companies operating in the global embedded systems market offer embedded software development as well as hardware such as microcontrollers and microprocessors. Key industry participants include Renesas Electronics, Intel Corporation, Freescale Semiconductor, Infineon Technologies, Atmel Corporation and Samsung Electronics among others.

Grand View Research has segmented the global embedded systems market on the basis of product, application and region:

Embedded Systems Product Outlook (Revenue, USD Billion, 2012 - 2020)

·         Embedded Hardware

·         Embedded Software

Embedded Systems Application Outlook (Revenue, USD Billion, 2012 - 2020)

·         Automotive

·         Consumer Electronics

·         Healthcare

·         Industrial

·         Military and Aerospace

·         Telecommunication

·         Others

Embedded Systems Regional Outlook (Revenue, USD Billion, 2012 - 2020)

·         North America

·         Europe

·         Asia Pacific

·         RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Smart TV Market Increase at a CAGR of 9.5% from 2017 to 2025: Grand View Research Inc.

The Report Smart TV Market Analysis By Resolution (4K UHD TV, HDTV, Full HD TV, 8K TV), By Screen Size (Below 32 Inches, 32-45, 46-55, 56-65, Above 65 Inches), By Screen Type, By Region, And Segment Forecasts, 2018 - 2025

The global smart TV market is expected to reach USD 292.55 billion by 2025, according to a new report by Grand View Research, Inc. The introduction of 4K resolution-equipped televisions, coupled with the shifting preference toward OLED and QLED displays, is expected to emerge as a major trend in the smart TV industry.

Streaming devices such as Apple TV, Amazon Fire TV, and Google Chromecast are changing the consumers’ viewing experience. Several manufacturers are teaming up with OTT content and device providers to provide built-in features with no further requirement of a set-top box. For instance, TCL Corporation has teamed up with Roku, Inc. and introduced a 4K HDR Roku TV. The China-based vendor is using the Roku platform for its television product line. Additionally, Hitachi, Ltd., Hisense Co. Ltd, and Sharp Corporation have also teamed up with Roku, Inc. to provide such features.

Key players have developed their proprietary operating systems or have partnered with open source providers in order to offer a plethora of apps to their customers. For instance, Google Inc.’s Android OS is widely used in televisions manufactured by Sony Corporation, LG Electronics, Inc., TCL Corporation, and Koninklijke Philips N.V.

Several regional players are focusing on expanding their presence globally to gain market share. The industry is witnessing intense rivalry among premium segment as players have exhibited keenness towards introducing and promoting Ultra High Definition (UHD) screens.

The growing popularity of smart homes has supplemented market growth as smart TVs help in enhancing the content viewing experience. As the home entertainment sector is paving its way in smart homes, the market is expected to witness increased demand over the next nine years. Large screen televisions are expected to capture substantial share fueled by rising consumer aspirations and affordable price points. Moreover, people are replacing their existing traditional televisions in the wake of availability of new high-tech and affordable solutions.

Access Research Report of Smart TV Market

Further key findings from the report suggest:

·       The 4K UHD segment is expected to witness significant growth over the forecast period. The plummeting prices of these TVs are attracting customers and triggering the demand.

·       The 46- to 55-inch segment is expected to dominate the market over the forecast period. The growth can be attributed to features such as high resolution and high picture quality with Dolby Digital sound, which can be better experienced on larger screen sizes.

·       Flat-screen TVs dominated the market in 2016 and are expected to continue doing so due to their relatively lower prices as compared to their curved-screen counterparts.

·       The Asia Pacific region is expected to dominate the overall smart TV market with an expected CAGR of over 10% throughout the forecast period. The emergence of new players in China is expected to contribute to the regional growth.

·       The key players in the industry include Samsung Electronics Co. Ltd., LG Electronics, Inc., Sony Corporation, Panasonic Corporation, and Videocon Industries Limited.

Grand View Research has segmented the market for smart TV by resolution, screen size, screen type, and region.

Resolution Outlook (Revenue and Volume; 2014 - 2025)

·         4K UHD TV

·         HDTV

·         Full HD TV

·         8K TV

Screen Size Outlook (Revenue and Volume; 2014 - 2025)

·         Below 32 inches

·         32 to 45 inches

·         46 to 55 inches

·         56 to 65 inches

·         Above 65 inches

Screen Type Outlook (Revenue and Volume; 2014 - 2025)

·         Flat

·         Curved

Regional Outlook (Revenue, USD Billion; 2014 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa (MEA)

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com