Digital Transformation Market is Projected to Boost USD 798.44 Billion by 2025

The Report Digital Transformation Market Analysis By Type (Solution, Service), By Deployment (Hosted, On-premise), By Enterprise Size (Large Enterprise, Small & Medium Enterprise), By End-use, By Region, And Segment Forecasts, 2018 – 2025

The global digital transformation market is expected to reach USD 798.44 billion by 2025, according to a new study by Grand View Research, Inc. The increasing necessity for the introduction of innovative solutions that are capable of engaging customers or employees to integrate process, data, IT and business and the increasing demand for the adoption of Internet of Things (IoT) are propelling market growth.

Digital transformation allows organizations to tackle disruptive changes such as marketplace fluctuation, and corporate restructuring, among others, occurring in their markets and customer base by designing new products, services, and business models leveraging digitalization. These newly designed solutions are generally a mix of digitally stored historical information about business activities and the customers Furthermore, they facilitate the transformation of traditional processes, business activities, and models to take advantage of the upcoming changes and opportunities of digital technologies.

Moreover, factors such as optimization of end-to-end customer experience and improvement in operational flexibility are promoting the growth of digital transformation along with the recognition of new revenue sources.

Access Research Report of Digital Transformation Market

Further key findings from the study suggest:

·       The hosted deployment segment is anticipated gain momentum owing to advantages such as convenience, lower cost, and better security. The segment is estimated to grow at a CAGR of 22.3% over the forecast period

·       The healthcare segment is presumed to find the highest growing application and is estimated to grow at CAGR of 19.5% over the next eight years. This can be attributed to the increasing focus of the healthcare providers towards improving the patient care by implementing digital process and technology

·       North America accounted for the largest share in 2016 owing to growing customer interaction through smart devices such as tablets, smartphones, and phablets, among others in this region

·       Furthermore, the presence of leading players such as IBM Corp., CA Technologies, and Hewlett Packard Enterprise Co, among others in the North American region is a key factor contributing to the regional market dominance

·       The Asia Pacific regional market is expected to grow at the highest CAGR over the next eight years. This can be attributed to the growing demand for the application of the Internet of Things.

·       The key industry participants include SAP SE, IBM Corporation, Oracle Corporation, Google Inc., Dell EMC, Hewlett Packard Enterprise Co., CA Technologies, Microsoft Corporation, Adobe Systems Incorporated, Accenture plc, Capgemini Group, Apple Inc., and Kellton Tech Solutions Ltd.

Grand View Research has segmented the global digital transformation market on the basis of type, deployment, enterprise size, end-use, and region:

Type Scope (Revenue, USD Billion; 2014 - 2025)

·         Solution

·         Service

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

·         Hosted

·         On-premise

Enterprise Size Outlook (Revenue, USD Billion; 2014 - 2025)

·         Large Enterprise

·         Small and Medium Enterprise

End-use Outlook (Revenue, USD Billion; 2014 - 2025)

·         BFSI

·         Government

·         Healthcare

·         IT & Telecom

·         Manufacturing

·         Retail

·         Others

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

·         North America

·         Europe

·         Asia Pacific

·         Latin 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.

Immersive Virtual Reality Market Latest Innovations, Drivers and Industry Key Events by 2020

The Report Immersive Virtual Reality Market Analysis By Technology (Semi-Immersive, Fully Immersive), By Device (Head-mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), By Application (Aerospace & Defense, Consumer Electronics, Medical, Retail) And Segment Forecasts To 2020

The global immersive virtual reality market is expected to reach USD 1.88 billion by 2020, according to a new study by Grand View Research, Inc. The industry is expected to witness profound growth over the next five years, as more consumer devices hit the market. Immersive VR headsets came into prominence during 2013 with the arrival of the Oculus Rift Developer Kit. The device is widely credited with giving the consumer VR space a kick start and creating anticipation & hype among consumers. Over the past two years, the industry has witnessed arrival of several consumer version VR headsets such as the VRTX One, Durovis Dive, Homido, and the low-cost Google Cardboard, thereby popularizing the technology.

Presently, immersive VR headsets are only partly commercialized and several consumer versions are anticipated to be launched in 2015–2016, including the Oculus Rift, HTC Vive, Sony PlayStation VR, and FOVE. GTDs and other motion tracking peripherals have also gained significant acceptance as an accessory to the HMD. Virtual reality PDWs have evolved in technology and resolution. Development and provision of CAVE systems and VR rooms for consumers are expected to boost demand for PDWs.

Technological development triggers a plethora of VR solutions with varied capabilities that allow users to experience utmost immersion. Making the VR experience more real serves as a key driver towards market penetration and adoption. Most of the available solutions are limited to head tracking leaving tremendous opportunities for the development of new technologies that increase the user’s sense of immersion and presence.

VR devices may pose inconvenience to certain users owing to their ergonomics and weight. Bulky devices offer render users with a sense of fatigue and discomfort after prolonged use. Simulation sickness is one of the greatest hurdles to be overcome, while designing VR experiences. Key stakeholders have been focusing on the issue aggressively and tackling it with extreme precision, keeping sensitivity and user comfort at priority.

Access Research Report of Immersive Virtual Reality Market @ https://www.grandviewresearch.com/industry-analysis/immersive-virtual-reality-market

Further key findings from the study suggest:

·       Fully immersive technologies are expected to be the largest and fastest growing technology segment over the forecast period owing to growing popularity of wearable devices among consumers. The segment accounted for over 75% of the revenue in 2014.

·       HMDs dominate the global immersive VR market share. Mobile VR headsets make use of smartphones for the screen, for example, Google Cardboard, whereas integrated HMDs have inbuilt screens, for example, Oculus Rift. The segment accounted for over 60% of the revenue in 2014.

·       Demand in retail and medical sectors is expected to witness exponential growth over the next five years. Consumer electronics application accounted for the largest share of 45% in 2014, and this trend is expected to continue over the forecast period.s

·       North America immersive virtual reality market accounted for about 50% of the overall share in 2014 owing to the presence of key vendors in the region coupled with a myriad of technology giants. Affordability and availability of consumer VR continue to drive growth across regions.

·       Several start-ups and individuals with technological expertise have raised funds through Kickstarter and promoted their solutions through online campaigns. Consumer electronics manufacturers such as Sony, HTC, and Samsung, and technology giants such as Google, Facebook, and Microsoft have also ushered into the market with VR solutions.

Grand View Research has segmented the immersive virtual reality market on the basis of technology, device, application, and region:

Immersive Virtual Reality Technology Outlook (Revenue, USD Million, 2013 - 2020)

·         Semi-immersive

·         Fully immersive

Immersive Virtual Reality Device Outlook (Revenue, USD Million, 2013 - 2020)

·         HMD

·         GTD

·         PDW

Immersive Virtual Reality Application Outlook (Revenue, USD Million, 2013 - 2020)

·         Aerospace & defense

·         Consumer electronics

·         Medical

·         Retail

·         Others

Immersive Virtual Reality Regional Outlook (Revenue, USD Million, 2013 - 2020)

·         North America

·         Europe

·         Asia Pacific

·         Latin 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.

Near Field Communication Market to Undertake Strapping Growth By 2024

The global near field communication (NFC) market is expected to reach USD 47.43 billion by 2024, according to a new report by Grand View Research, Inc. The industry is poised for an unprecedented growth over the forecast period owing to the increasing penetration of smartphones in the developing economy. Increasing adoption of mobile payment services has led to the intensive utilization of POS with the launch of e-wallet and Apple Watch. Banking entities, payment gateways, and payment processors are expected to expand the capabilities for accommodating the new enhanced technology. The emergence of the mobile wallet services has allowed users to pay for services through mobile devices or through cashless payment modes, which have further enhanced near field communication market growth.

The increasing demand for the NFC-based payment solutions has led the manufacturers to develop an enhanced version of the digital payment platform, further developing the market growth. Growing penetration of wearable technology devices as a significant component of Internet of Things with lowered costs have immensely contributed to the industry growth.

The emergence of mobile wallets, such as Android Pay, Apple Pay, and Samsung Pay, are also expected to further drive the substantial mobile payments growth, owing to their capability of paying through mobile phones instead of cards or any other cashless payment modes. The increasing number of vendors is expected to increase the concentration and propel the development of near field communication infrastructure, thus accelerating the market growth. The increasing need for lowering the cost of ownership and the increased convenience need will continue to dictate the market development.

Access Research Report of Near Field Communication Market@ http://www.grandviewresearch.com/industry-analysis/near-field-communication-nfc-market

Further key findings from the report suggest:

·       Banking entities, payment gateways, businesses and payment processors are expanding with the emerging payment technologies.

·       Near field communication Tags is expected to grow with a significant  CAGR over the forecast period as the technology provides a possibility of data exchange within the range of 10cm wirelessly.

·       SIM card type near field communication is expected to have the substantial transaction revenue over the projected period owing to the technological advancement and increasing penetration of smartphones

·       The transaction segment is estimated to have the significant market share and is expected to remain as the key segment for generating revenue over the forecast period. The increasing demand for contactless payments and growing interest of banks and other financial institutions in the segment have led to the immense growth.

·       The data sharing application is expected to have the considerable growth as data sharing segment includes the sharing of consumers’ personal data, such as pictures, videos, and MP3

·        U.S. NFC market is driven by in-store payments as a smartphone ecosystem leads to enhanced mobile platforms. Canadian smartphones are used widely for checking balances, online transaction, and funds transfer, which offers an opportunity of further technological advancements.

·       The key players in the NFC market include Identiv Group Inc (U.S), Broadcom Limited (A subsidiary of Avago Technologies) (U.S), Gemalto NV (Netherlands), Inside Secure (France).

Grand View Research has segmented the near field communication (NFC) market on the basis of product type, application, and region:

Product Outlook (Transaction Revenue, USD Billion, 2014 - 2024)

·         SD Cards

·         SIM Cards

·         NFC Cover

·         NFC ICs

·         NFC Tags

·         NFC Readers

Application Outlook (Transaction Revenue, USD Billion, 2014 - 2024)

·         Access Control

·         Ticketing

·         Data Sharing

·         Medical Devices

·         Transaction

·         Product Identification

·         Others

Regional Outlook (Transaction Revenue, USD Billion, 2014 - 2024)

·         North America

·         Europe

·         Asia Pacific

·         Latin 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.

Precision Medicine Market Poised to Garner Maximum Revenues During 2018 – 2025

The global precision medicine (diagnostics/therapeutics) market size is expected to reach USD 85.5 billion by 2025 at a 9.9% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Trends such as introduction of cost-effective genomic and molecular biology testing methods, increasing prevalence of cancer and rare diseases, and rising use of big data in precision medicine are some of the key factors boosting market growth.

The Human Genome Project introduced some marvelous cutting-edge techniques such as whole genome sequencing and targeted sequencing. These technologies are being used by researchers for the study of genomes and creation of personalized therapies for treatment of various illnesses. Today, the prevalence of diseases in areas such as oncology, immunology, and neurology has rapidly increased across the globe.

Researchers, healthcare professionals, and big pharma and biotech companies are working together to recognize new focused treatments options for the wellbeing of patients. Currently, there are many therapies and drugs under clinical trials for treatment of different types of cancers. Moreover, researchers have also shown an inclination toward development of precision medicines and diagnostics in non-oncologic disease areas.

Apart from therapeutics, the diagnostics field has also witnessed rapid growth in the past few years. The use of next generation sequencing (NGS), biomarkers, companion diagnostics, and esoteric tests can possibly change and affect prescription patterns of pharmaceutical medicines. Personalized medicines have very high chances of becoming a massive success in the next 20 years and have the capacity to treat and cure a few obstinate illnesses, which was not possible before.

Involvement of government and regulatory bodies has played a very important role in the growth of this field. In 2015, the then U.S. government announced the launch of the Precision Medicine Initiative. The following year, China launched the China Precision Medicine Initiative, which is a 15-year project that aims to build the country as a leader in development of precision therapies.

At present, more than 40% of the medications in biotech and pharmaceutical companies’ improvement pipeline incorporate biomarkers. The overview likewise recommended that some biopharmaceutical organizations have collaborated and joint their ventures in the past five years and are expected to continue doing so in the coming years. The diagnostic and therapeutic precision medicine market thus holds immense potential and is quickly turning into a fundamental segment of patient care.

Access Research Report of Precision Medicine Market @ https://www.grandviewresearch.com/industry-analysis/precision-medicine-diagnostics-therapeutics-market

Further key findings from the report suggest:

·       Technologies such as gene sequencing, biomarkers, big data analytics, and companion diagnostics are anticipated to drive this market in the coming years

·       By end use, clinical labs held the dominant share in the market in 2017. The home care testing segment, on the other hand, has been witnessing rapid growth due to its speed, efficiency, and convenience

·       On the basis of indication area, therapeutic precision medicines for oncology held the largest market share in 2017. However, there has been a change in focus of researchers toward the development of precision medicines for non-oncologic diseases. This has resulted in greater focus on immunological, genetic, and rare diseases

·       The North America market currently holds the largest share and is expected to grow further during the forecast period. The market is primarily driven by supportive policies and initiatives by the government and strong presence of market players. Asia Pacific is expected to emerge as the fastest growing region in this market

·       GE Healthcare; Abbott Laboratories; Precision Biologics; Foundation Medicine; Illumina, Inc.; and IBM Watson are some of the prominent players in the precision medicine diagnostics market and precision medicine therapeutics market

Grand View Research has segmented the global Precision Medicine (Diagnostics/Therapeutics) market based on application, end use, and region:

Precision Medicine (Diagnostics/Therapeutics) Application Outlook (Revenue, USD Billion, 2014 - 2025)

·         Diagnostics

o    Genetic Tests

o    Direct to Consumer Tests

o    Esoteric Tests

o    Others

·         Therapeutics

o    Pharmaceuticals

o  Oncology

o  Respiratory Diseases

o  Skin Diseases

o  CNS Disorders

o  Immunology

o  Genetic Diseases

o  Others

·         Medical Devices

·         Others

Precision Medicine (Diagnostics/Therapeutics) End-use Outlook (Revenue, USD Billion, 2014 - 2025)

·         Home care

·         Hospitals

·         Clinical Laboratories

·         Others

Precision Medicine (Diagnostics/Therapeutics) Regional Outlook (Revenue, USD Billion, 2014 - 2025)

·         North America

o    U.S.

o    Canada

·         Europe

o    Germany

o    U.K.

·         Asia Pacific

o    China

o    Japan

·         Latin America

o    Brazil

·         Middle East & Africa

o    South Africa

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.