Automotive Finance Market Size Projected to Rise Lucratively during 2021 to 2028: Grand View Research Inc.

 Automotive Finance Market Growth & Trends

The global automotive finance market size is expected to reach USD 394.06 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.0% from 2021 to 2028. Numerous customers across the globe are checking lending rates and auto prices online to find the financing firms that offer the best deals. This, as a result, the market is aggressively competitive and an ultra-transparent in nature.

Customers who are looking out for a new car seek lenders who have transparent financing practices and user-friendly websites. Auto loan providers are focusing on offering streamlined and simple online financing environments to their customers. These providers are widely adopting Loan Origination Software (LOS) and online systems for effectively structuring loans for their customers.

Numerous automotive finance businesses are upgrading their LOS systems to efficiently support automated decisions. Using LOS systems, lenders benefit from faster response and processing times. Moreover, loan structuring and automated decision enable them to deny or approve online applications within minutes.

Automotive finance businesses are focusing on using machine learning and artificial intelligence tools to structure used and new auto loans more accurately. Furthermore, lenders can easily leverage these innovative technologies in the cloud with the help of LOS vendors. Machine learning and artificial intelligence enable auto lenders to calculate risk and identify perfect borrowers with more accuracy.

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Automotive Finance Market Report Highlights

• The banks' segment is expected to witness significant growth over the forecast period as banks offer secure financing to their customers. Banks also offer customers with the facility to apply for preapproval. This facility helps customers in comparing estimated loan offers
• Numerous customers across the globe prefer direct auto loans as they can easily access and get loans from credit unions, banks, and other loan lending companies
• Customers are focusing on adopting the leasing model as it is a more flexible model in comparison to others for new, shared, and used vehicles that could comprise services such as insurance
• The number of passenger vehicles that include pickup trucks and crossovers on the road continues to rise across the globe, thereby creating growth opportunities for the passenger vehicles segment over the forecast period
• The presence of many prominent automotive finance providers in the European region and the adoption of innovative tools, such as biometrics, e-contracts, and machine learning, is expected to drive the regional market growth over the forecast period

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Automotive Finance Market Segmentation

Grand View Research has segmented the global automotive finance market on the basis of provider type, finance type, purpose type, vehicle type, and region:

Automotive Finance Provider Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Banks
• OEMs
• Other Financial Institutions

Automotive Finance Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Direct
• Indirect

Automotive Finance Purpose Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Loan
• Leasing
• Others

Automotive Finance Vehicle Type Outlook (Revenue, USD Billion, 2016 - 2028)

• Commercial Vehicles
• Passenger Vehicles

Automotive Finance Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players of Automotive Finance Market

• Ally Financial
• Bank of America
• Capital One
• Chase Auto Finance
• Daimler Financial Services
• Ford Motor Credit Company
• GM Financial Inc.
• Hitachi Capital
• Toyota Financial Services
• Volkswagen Financial Services

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.

Smart Pole Market Insights Business Opportunities, Current Trends And Forecast 2028: Grand View Research Inc.

 Smart Pole Market Growth & Trends

The global smart pole market size is expected to reach USD 26.55 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 19.7% from 2021 to 2028. Continued urbanization and the subsequent need to manage assets and infrastructure efficiently are driving the demand for smart poles. The rollout of smart city projects in different parts of the world also bodes well for the growth of the market. According to a study conducted by the Consumer Technology Association, smart city spending across the globe reached USD 34.35 billion in 2020.

Several government bodies worldwide are pursuing initiatives to provide Wi-Fi connectivity in public areas and are deploying smart poles for the purpose. For instance, in February 2018, smart poles offering Wi-Fi connectivity were installed in Kalaburagi, India as part of the efforts to provide free Wi-Fi connectivity for citizens at selected places. Similarly, in February 2020, smart poles featuring the latest technology were installed in London, the U.K. in Hampton as part of the government’s digital transformation project to provide Wi-Fi connectivity to citizens.

Smart poles are also being installed for monitoring air quality in the wake of the deteriorating ambient air quality in urban areas in different parts of the world. Several people across the world are suffering from various disorders stemming from the deteriorating quality of the ambient air. Smart poles can potentially play a decisive role in addressing the air quality issues in urban areas by monitoring environmental parameters, such as humidity, temperature, and concentration of fine air particles, and help in assessing the quality of ambient air. The data provided by the smart poles can help the citizens in limiting their exposure to air pollution and the authorities in improving the quality of the ambient air quality.

The outbreak of the COVID-19 pandemic is anticipated to adversely affect the growth of the market. Construction and infrastructure development projects are confronting a slowdown owing to the lockdowns imposed in different parts of the world as part of the efforts to arrest the spread of the disease. For instance, during the COVID 19 situation, the U.K. government had announced the shutdown of construction sites with more than 50 workers. The shutdown of construction sites thereby leads to a decrease in the demand for smart poles requirements.

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Smart Pole Market Report Highlights

• The hardware segment dominated the market in 2020. The infrastructure development projects that are underway worldwide are expected to drive the growth of the segment over the forecast period
• The controller segment dominated the market in 2020 and is expected to witness promising growth over the forecast period. The government incentives and rebates being offered on the replacement of conventional lamp poles with smart poles as a part of smart city development projects are expected to drive the growth of the segment over the forecast period
• The retrofit installation segment dominated the market in 2020. The provisioning of Wi-Fi connectivity and installation of digital signage on existing poles as part of smart city development is expected to drive the growth of the segment over the forecast period
• The public places segment dominated the market in 2020. The growing preference for Public-Private Partnerships for the deployment of Wi-Fi networks at public places is expected to drive the growth of the segment
• Increasing adoption of smart poles in emerging economies, such as China and India, is expected to create growth opportunities for the market in the Asia Pacific region over the forecast period

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Smart Pole Market Segmentation

Grand View Research has segmented the global smart pole market on the basis of component, hardware, installation type, application, and region:

Smart Pole Component Outlook (Revenue, USD Million, 2016 - 2028)

• Hardware
• Software
• Service

Smart Pole Hardware Outlook (Revenue, USD Million, 2016 - 2028)

• Lighting Lamp
• Pole Bracket & Pole Body
• Communication Device
• Controller
• Others

Smart Pole Installation Type Outlook (Revenue, USD Million, 2016 - 2028)

• New Installation
• Retrofit Installation

Smart Pole Application Outlook (Revenue, USD Million, 2016 - 2028)

• Highways & Roadways
• Public Places
• Railways & Harbors

Smart Pole Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

List of Key Players in the Smart Pole Market

• Acuity Brands
• Cree, Inc.
• Eaton
• Ericson
• General Electric Company
• Siemens
• Signify
• Telensa Limited
• Wipro
• Zumtobel Group

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.

India Online Grocery Market to Witness a Pronounce Growth During 2021 – 2028: Grand View Research Inc.

 India Online Grocery Market Growth & Trends

The India online grocery market size is projected to reach USD 38.9 billion by 2028, according to a study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 37.1% from 2021 to 2028. The online grocery market in India has been thriving with consumers favoring the convenience of online shopping over neighborhood grocery retailers. Amid the COVID-19 pandemic, people have been careful to step out from the safety of their homes.

A rising number of individuals are shifting toward online grocery shopping for meeting their needs during the time of social distancing. The online grocery market in India, while still in its nascent stage, witnessed remarkable growth during the pandemic period and is set to pick up significantly as social distancing becomes the new normal and as traditional grocery retailing loses appeal across hitherto experience. Additionally, growing smartphone usage, coupled with the proliferation of the internet, is a key factor expected to boost market growth over the forecast period.

Furthermore, a rise in investments of Venture Capital and Private Equity (PE) funds into India's consumer internet and online retail sectors are likely to support the growth of the market. Moreover, in the coming years, the industry is expected to be driven by consumers using local languages over English from Tier-I as well as Tier-II and III cities. Hence, key players in the market are looking forward to adapting their platforms to local languages and establish improved voice search features to build their potential consumer base. Other appealing offers like fast delivery or same-day delivery, low delivery charges, cashback offers, and flexible return policies by online grocery platforms are also expected to drive the market in the foreseeable future.

Online grocery shopping is seen to be highly convenient and user-friendly; however, it has its challenges. A personalized experience, lack of physical evidence, and checking the product for its freshness before the purchase is absent while shopping online. The growing awareness of fitness and well-being, eating fresh and healthy food raises concerns about buying groceries online. Moreover, frauds associated while making an online purchase and payments, delays in the delivery, and delivery of damaged or expired goods are some of the other factors that are likely to hinder the market growth. Nevertheless, the adoption of the Internet of Things (IoT) is projected to provide lucrative opportunities for the market over the forecast period. IoT aids e-commerce companies keep track of their inventory with the use of IoT enabled devices within the network. These IoT-enabled devices help retailers provide real-time data and analyze the demand for several products across different regions and cities.

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India Online Grocery Market Report Highlights

• Based on product type, the staples and cooking essentials segment dominated the market with a share of 33.9% in 2020 owing to the constant shopping of staples
• The online payment method segment is expected to expand at the fastest CAGR over the forecast period. India’s online grocery market, traditionally dominated by cash, is evolving to meet the demands of its increasingly smartphone-led online shopping culture, with cards and digital wallets rising in prominence
• By region, South India accounted for 34.6% share in 2020 and is expected to witness significant growth over the coming years. The West India region is anticipated to witness the second-highest growth over the forecast period

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India Online Grocery Market Segmentation

Grand View Research has segmented the India online grocery market on the basis of product type, payment method, and region:

India Online Grocery Product Type Outlook (Revenue, USD Million, 2017 - 2028)

• Fresh Produce
• Breakfast & Dairy
• Snacks & Beverages
• Meat & Seafood
• Staples & Cooking Essentials
• Others

India Online Grocery Payment Method Outlook (Revenue, USD Million, 2017 - 2028)

• Online
• Offline (Cash on Delivery)

India Online Grocery Regional Outlook (Revenue, USD Million, 2017 - 2028)

• South India
• North India
• West India
• East India

List of Key players of India Online Grocery Market

• Amazon India Pvt. Ltd.          
• Godrej Nature's Basket Ltd.  
• Grofers India Pvt. Ltd.
• Paytm E-Commerce Pvt. Ltd. (Paytm Mall)  
• Reliance Retail Ltd. (Reliance Fresh)
• Spencer's Retail         
• Supermarket Grocery Supplies Pvt. Ltd. (BigBasket)           
• UrDoorstep eRetail Pvt. Ltd.

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.

Data Collection And Labeling Market Latest Innovations, Drivers and Industry Key Events by 2028

 

Data Collection And Labeling Market Growth & Trends

The global data collection and labeling market size is expected to reach USD 8.22 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 25.6% from 2021 to 2028. Data collection and labeling refer to the process of collecting datasets from online sources and other sources and labeling them based on their nature, data type, and feature. Data gathering and its annotation, combined with artificial intelligence (AI) technology, have created valuable growth opportunities in several verticals, such as gaming, social networking, and e-commerce. For instance, Twitter and Facebook, two major platforms in the world of social networking, have benefited from the image processing technology in terms of audience engagement as they have created a more connected experience by encouraging users to share images and tag their friends.

The advent of digital capturing devices, particularly cameras built into smartphones, has led to an exponential growth in the volume of digital content in the form of images and videos. A vast amount of visual and digital information is being captured and shared through several applications, websites, social networks, and other digital channels. Several businesses have leveraged this available online content to deliver smarter and better services to their customers, with the use of data annotation. For instance, Scale AI, Inc., the U.S.-based tech start-up, has provided valuable data labeling services to its autonomous driving customers, including Waymo LLC; Lyft, Inc.; Zoox; and Toyota Research Institute.

However, data cleaning remains a significant challenge involved in data labeling. Also, considering the time, complexity, and cost associated with the development of machine learning models, many companies may not have the resources who can produce acceptable and accurate results. Therefore, several companies are taking strategic initiatives to expand their business in the field of artificial intelligence-based data gathering. For instance, in July 2020, Microsoft acquired Orions Digital Systems, Inc., a U.S.-based data management solutions provider, to boost its Dynamics 365 Connected Store capabilities. This acquisition is anticipated to proliferate the use of computer vision and IoT sensors to help retailers better understand customer behavior and manage their physical spaces.

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Data Collection And Labeling Market Report Highlights

• Automated image organization offered by cloud-based applications and telecom companies is one of the most popular uses of data gathering that has improved the users’ experience and drawn the customers’ attraction towards this technology
• Several benefits, such as better security and automation of identification, are the factors encouraging the implementation of facial recognition at significant public spaces or events

• The advent of large-scale cloud-hosted AI and machine learning platforms offered by tech giants, has led to the implementation of data annotation with multiple functions such as facial recognition, object recognition, and landmark detection
• The growing integration of digital image processing and mobile computing platforms in various applications such as digital shopping and document verification are propelling market growth

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Data Collection And Labeling Market Segmentation

Grand View Research has segmented the global data collection and labeling market based on data type, vertical, and region:

Data Collection And Labeling Data Type Outlook (Revenue, USD Million, 2017 - 2028)

• Audio
• Image/ Video
• Text

Data Collection And Labeling Vertical Outlook (Revenue, USD Million, 2017 - 2028)

• IT
• Automotive
• Government
• Healthcare
• BFSI
• Retail & E-commerce
• Others

Data Collection And Labeling Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East and Africa (MEA)

List of Key Players of Data Collection And Labeling Market

• Reality AI
• Globalme Localization Inc.
• Global Technology Solutions
• Alegion
• Labelbox, Inc
• Dobility, Inc.
• Scale AI, Inc.
• Trilldata Technologies Pvt Ltd
• Appen Limited
• Playment Inc

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.

Attractive Market Opportunities in the Autonomous Vehicle Market by 2030: Grand View Research Inc.

 Autonomous Vehicle Market Growth & Trends

The global autonomous vehicle market demand is expected to reach 4.2 million units by 2030, expanding at a CAGR of 63.1% over the forecast period, according to a new report by Grand View Research, Inc. An autonomous vehicle is a combination of various networking systems and sensors that assist the computer in driving the vehicle. Several technology providers such as Google LLC and Tesla Motors have also entered the market and are contributing to the research and development of autonomous vehicles.

The automobile industry is dynamic as it is undergoing changes with advancements in technologies. Several major players in the industry, such as General Motors Company, Volkswagen AG, Mercedes-Benz, and BMW AG, are making significant investments in the research and development of technologies. Growing trend of autonomous vehicles in the automotive industry is attracting larger investments in the development of these automobiles.Moreover, the U.K. government has granted permission to test self-driving cars on public roads. Furthermore, the Federal Department of Environment, Transport, Energy and Communications (DETEC) in Switzerland has permitted driverless testing on the streets of Zurich.

The market has been segmented on the basis of application into transportation and defense. The transportation segment is expected to account for a significant share in the self-driving car market over the forecast period. The defense segment is expected to witness the highest growth over the forecast period. North America accounted for the largest share of the overall revenue in 2020. Demand for self-driving vehicles is expected to increase over the forecast period in line with rising government regulations and increased acceptance of self-driving vehicles in U.S.

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Autonomous Vehicle Market Report Highlights

• Demand for autonomous cars is expected to witness a rise in the coming years owing to increasing government regulations in various developed and developing nations
• Based on application, the transportation segment is expected to expand at the highest CAGR of 86.4% over the forecast period
• Countries including U.S., China, and Japan are expected to witness significant growth over the forecast period owing to the large-scale testing and adoption of autonomous cars or trucks in the transportation sector
• Audi AG; BMW AG; Daimler AG; Ford Motor Company; General Motors Company; Google LLC; Honda Motor Co., Ltd.; Nissan Motor Company; Tesla; Toyota Motor Corporation; Uber Technologies, Inc.; Volvo Car Corporation; Volkswagen AG are some of the key players in the self-driving vehicles market.

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Autonomous Vehicle Market Segmentation

Grand View Research has segmented the global autonomous vehicle market on the basis of application and region:

Autonomous Vehicles Application Outlook (Volume, Thousand Units, 2020 - 2030)

• Transportation
  • Industrial
  • Commercial
• Defense

Autonomous Vehicles Regional Outlook (Volume, Thousand Units, 2020 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Netherlands
  • Sweden
• Asia Pacific
  • China
  • Japan
  • Singapore
  • Australia
• South America
  • Brazil
• Middle East and 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.

Real-Time Payments Market to Penetrate Untapped Regions During the Forecast Period: Grand View Research Inc.

 

Real-Time Payments Market Growth & Trends

The global real-time payments market size is expected to reach USD 99.73 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 33.0% from 2021 to 2028. The growing internet penetration rate and the proliferation of smartphones are expected to drive the growth of the market over the forecast period. The initiatives being pursued by various governments across the world to promote digital payments are expected to contribute to the growth.

Digital payment solution providers are putting a strong emphasis on ensuring security while making payments using smartphones and bank cards, among other payment methods. Advances in the latest technologies, such as AI and blockchain, are particularly opening opportunities for digital payment solution providers to offer efficient and secure digital payment solutions. For instance, in October 2019, SnapPay Inc. announced the launch of a new facial recognition payment technology for retail store merchants in North America.

Technology companies, such as Facebook, Amazon, WeChat, Alipay, and Google, among others, are focusing on strengthening their presence in the market for real-time payments. For instance, in December 2020, Facebook announced that it has gone live with the payments feature on the WhatsApp messaging platform in India. The initiative fell under the company’s efforts to explore new opportunities in the market.

The outbreak of the COVID-19 pandemic is anticipated to create new opportunities for the market players. Individuals are increasingly opting for contactless payment methods as part of the efforts to arrest the spread of coronavirus. The growing preference for online shopping amid the outbreak of the pandemic is also expected to propel the growth of the market over the forecast period.

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Real-Time Payments Market Report Highlights

• The P2B segment is expected to continue dominating the market over the forecast period. The continued growth of e-commerce and m-commerce is expected to drive the segment growth
• The solution segment is expected to continue dominating the market over the forecast period. The growing consumer preference for various digital payment solutions is expected to drive the growth of the segment
• The preference for cloud-based real-time payment solutions is growing owing to their agility and the flexibility they can offer for consumers and businesses while making and receiving payments
• The increasing number of e-commerce startups across the globe is anticipated to drive the demand for real-time payment solutions over the forecast period
• Government bodies are increasingly deploying smart ticketing systems across various public transport systems, which is creating an opportunity for vendors of real-time payment solutions
• Continued digitalization in emerging economies, such as China and India, is expected to create growth opportunities for vendors of real-time payments solutions in the Asia Pacific regional market

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Real-Time Payments Market Segmentation

Grand View Research has segmented the global real-time payments market based on payment type, component, deployment, enterprise size, end-use industry, and region.

Real-Time Payments Payment Type Outlook (Revenue, USD Million, 2016 - 2028)

• P2B
• B2B
• P2P
• Others

Real-Time Payments Component Outlook (Revenue, USD Million, 2016 - 2028)

• Solutions
  • Payment Gateway
  • Payment Processing
  • Security & Fraud Management
• Services
  • Advisory Services
  • Integration & Implementation Services
  • Managed Services

Real-Time Payments Deployment Outlook (Revenue, USD Million, 2016 - 2028)

• Cloud
• On-premise

Real-Time Payments Enterprise Size Outlook (Revenue, USD Million, 2016 - 2028)

• Large Enterprises
• Small & Medium Enterprises

Real-Time Payments End-use Industry Outlook (Revenue, USD Million, 2016 - 2028)

• Retail & E-commerce
• BFSI
• IT & Telecom
• Travel & Tourism
• Government
• Healthcare
• Energy & Utility
• Others

Real-Time Payments Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Sweden
  • Denmark
  • Switzerland
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
• South America
  • Brazil
  • Argentina
• Middle East & Africa

List of Key Players of Real-Time Payments Market

• ACI Worldwide, Inc.
• Mastercard Incorporated
• Finastra
• Visa Inc.
• PayPal Holdings, Inc.
• Fiserv, Inc.
• Fidelity National Information Services, Inc. (FIS Inc.)
• Wirecard AG
• Worldpay, Inc.
• Temenos AG
• Montran Corporation
• Volante Technologies Inc.

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.

Telecom Services Market to Undertake Strapping Growth By 2028

 Telecom Services Market Growth & Trends

The global telecom services market size is expected to reach USD 2.47 trillion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2021 to 2028. Increased spending on next-generation wireless communication infrastructures due to the shift in customer preferences toward the 5G network and cloud-based technology is primarily driving the demand for telecom services. Furthermore, soaring demand for high-speed data connectivity, the rapid spread of digitalization worldwide, and the explosion of consumer-generated multimedia content via Over-The-Top (OTT) applications are some of the other key factors that are expected to significantly contribute to the industry growth.

With the plurality of telecom services, networks, and providers, the sector has emerged as one of the acute components essential for global socio-economic development. The rapid adoption of smartphone devices is another dynamic that has majorly contributed to the growth of the global telecom industry and has manifested in the businesses of telecom companies. The migration of cellular devices from feature phones to 5G-enabled smartphones has generated a massive demand for high bandwidth connectivity, improved voice services, and other value-added services, thereby fueling the market growth over the forecast period.

Network Functions Virtualization (NFV) and Software-Defined Networking (SDN) are the telecom network architectures that provide wider and improved connectivity at reduced infrastructure costs. These architectures based on network abstraction processes are envisioned to transform the global communication industry over the coming years. While NFV allows network slicing to offer customized solutions to varied industries, SDN enables the communication service providers to work in partnership with a broader ecosystem. These services are anticipated to offer efficient network connectivity and support the new era of 5G networks.

The outbreak of COVID-19 has compelled governments worldwide to announce national lockdowns in the initial days. The in-home isolation of the worldwide population has given a pathway to digital entertainment platforms. The growing demand for video streaming services on applications, such as Netflix, YouTube, and Amazon, has raised the usage of data services. Additionally, the shutdown of several businesses across the globe, coupled with a significant impact on the global economy, has hampered the overall market growth in 2020. However, with the significant investments made by federal governments across key countries, such as the U.S., China, India, the U.K., and Germany, to bring their economies’ growth on track, the market is expected to witness considerable growth from 2021 to 2028.

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Telecom Services Market Report Highlights

• By service type, in 2020, the mobile data services segment accounted for the largest share of nearly 33.0% owing to the rapidly growing usage of data services for multiple applications, such as smartphones, OTT, cloud augmented reality (AR) & virtual reality (VR) gaming, smart cities, and UHD video access
• Based on transmission, the wireless segment is anticipated to expand at the fastest CAGR from 2021 to 2028. The significant growth is attributed to the augmenting demand for mobile services among consumers and businesses
• In 2020, Asia Pacific accounted for the largest revenue share of over 32.0% and is anticipated to maintain its lead over the forecast period. This is mainly on the account of the rapidly growing population, rising internet penetration rate, and significant adoption of smartphones
• Several prominent players across the globe are aggressively investing in deploying next-generation 5G network infrastructure in order to capture a significant customer base and increase their overall sales and profitability

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Telecom Services Market Segmentation

Grand View Research has segmented the global telecom services market on the basis of service type, transmission, end-use, and region:

Telecom Services Type Outlook (Revenue, USD Billion, 2017 - 2028)

• Fixed Voice Services
• Fixed Internet Access Services
• Mobile Voice Services
• Mobile Data Services
• Pay-TV Services
• Machine-to-Machine (Mobile IoT) Services

Telecom Services Transmission Outlook (Revenue, USD Billion, 2017 - 2028)

• Wireline
• Wireless

Telecom Services End-use Outlook (Revenue, USD Billion, 2017 - 2028)

• Consumer/Residential
• Business
  • IT & Telecom
  • Manufacturing
  • Healthcare
  • Retail
  • Media & Entertainment
  • Government & Defense
  • Education
  • BFSI
  • Energy and utilities
  • Transportation & Logistics
  • Travel & Hospitality
  • O&G and Mining
  • Others

Telecom Services Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)

List of Key Players of Telecom Services Market

• AT&T Inc.
• Verizon Communications Inc.
• Nippon Telegraph and Telephone Corporation (NTT)
• China Mobile Ltd.
• Deutsche Telekom AG
• SoftBank Group Corp.
• China Telecom Corp Ltd.
• Telefonica SA
• Vodafone Group
• KT Corporation
• Bharati Airtel Limited
• Reliance Jio Infocomm Limited,
• KDDI Corporation
• Orange SA
• BT Group plc
• Comcast Corporation

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.

5G Chipset Market is Likely To Touch USD 66.45 Billion by 2028: Grand View Research Inc.

 5G Chipset Market Growth & Trends

The global 5G chipset market size is expected to reach USD 66.45 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 69.1% from 2021 to 2028. The rapidly rising demand for ultra-reliable and low-latency data networks capable of delivering seamless connectivity is estimated to boost market growth over the forecast period. As such, the 5G chipset is turning out to be an integral part of modern telecommunication equipment. 5G chipsets can be found in the latest smartphones, laptops, base stations, modems, and routers. These chipsets are also being installed in connected vehicles deployed as part of autonomous vehicle systems to provide improved Vehicle-to-Everything (V2X) connectivity.

The growing popularity of 5G-enabled smartphones is emerging as a major factor that is estimated to propel market growth over the forecast period. Key smartphone manufacturers are responding to the growing demand for 5G smartphones by aggressively investing in vertical integration in order to diversify their businesses and augment revenues. For instance, in July 2019, Apple, Inc. acquired Intel Corporation’s smartphone modem business segment for USD 1.0 billion. The acquisition was primarily focused on developing 5G chipset components for Apple Inc.’s new upcoming 5G-enabled iPhone.

5G chipset components are expected to play a crucial role in smart city projects by facilitating seamless connectivity for smart infrastructure, smart grids, smart streetlights, and building energy automation devices. These chipsets are also poised to become an integral part of the manufacturing sector by enabling ultra-low latency and high-reliability connectivity for various critical applications, such as remote process monitoring and control. The growing deployment of these chipsets to provide robust connectivity for Machine to Machine (M2M) communications in the manufacturing sector is anticipated to drive the market over the forecast period.

With the rapidly spreading COVID-19, leading economies such as China, the U.S., and Japan have temporarily shut down their businesses and industrial operations. As a result, this has hampered the global 5G chipset production and sales. Thus, it is estimated to see a slowdown in the overall market growth during the forecast period. Furthermore, in key European countries, governments are facing major difficulties in progressing the 5G commercialization process in order to deliver enhanced data bandwidth to their people. For instance, currently, the France government has postponed the 5G auction process for telecom operators amid the outbreak of COVID-19 in the country. As a result, it is anticipated to impede the adoption of 5G devices in the country, thereby hampering the overall market growth over the forecast period.

Moreover, rising concerns over the security of the data being exchanged over fifth-generation networks are expected to hinder the market growth. Particularly in countries such as the U.S., the U.K., and Germany, governments are highly concerned about data security and privacy issues. Several governments have also drafted stringent regulations and policies to ensure the security of the data being transferred over fifth-generation networks.

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5G Chipset Market Report Highlights

• The U.S. market held a 93.3% share in 2020. This is attributed to the enormous investments in developing 5G chipsets by key market players such as Qualcomm Incorporated; Intel Corporation; and Qorvo, Inc.
• Asia Pacific is anticipated to register the highest CAGR from 2021 to 2028. The growth is attributed to rapidly increasing demand for 5G-enabled smartphones, along with the increasing massive investments in building 5G network infrastructure by key players, such as Huawei Technologies Co., Ltd.
• By deployment type, in 2020, the smartphones/tablets segment held the largest share of nearly 55.0% due to an initial focus on developing 5G chipsets for smartphone applications, such as accessing UHD video and Augmented reality (AR)/ Virtual Reality (VR) gaming
• Several key market players are significantly focusing on R&D investments to develop new 5G chipsets, such as multi-mode chipsets and single-mode standalone chipsets. This strategy is anticipated to help market players to expand their overall product portfolios and market presence

Access Press Release@ https://www.grandviewresearch.com/press-release/global-5g-chipset-market

5G Chipset Market Segmentation

Grand View Research has segmented the global 5G chipset market on the basis of frequency type, processing node type, deployment type, vertical, and region:

5G Chipset Frequency Type Outlook (Revenue, USD Million, 2019 - 2028)

• sub-6GHz
• mmWave
• sub-6GHz + mmWave

5G Chipset Processing Node Type Outlook (Revenue, USD Million, 2019 - 2028)

• 7 nm
• 10 nm
• Others

5G Chipset Deployment Type Outlook (Revenue, USD Million, 2019 - 2028)

• Telecom Base Station Equipment
• Smartphones/Tablets
  • Single-mode
    • Standalone
    • Non-standalone
  • Multi-mode
• Connected Vehicles
  • Single-mode
    • Standalone
    • Non-standalone
  • Multi-mode
• Connected Devices
  • Single-mode
    • Standalone
    • Non-standalone
  • Multi-mode
• Broadband Access Gateway Devices
  • Single-mode
    • Standalone
    • Non-standalone
  • Multi-mode
• Others
  • Single-mode
    • Standalone
    • Non-standalone
  • Multi-mode

5G Chipset Vertical Outlook (Revenue, USD Million, 2019 - 2028)

• Manufacturing
• Energy & Utilities
• Media & Entertainment
• IT & Telecom
• Transportation & Logistics
• Healthcare
• Others

5G Chipset Regional Outlook (Revenue, USD Million, 2019 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA (Middle East & Africa)

List of Key Players of 5G Chipset Market

• Qualcomm Incorporated
• Intel Corporation
• Huawei Technologies Co., Ltd.
• Samsung Electronics Co., Ltd.
• MediaTek Inc.
• Infineon Technologies AG.
• Unisoc Communications, Inc.
• Xilinx Inc.
• Qorvo, Inc.

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.

Yacht Market Projected to Discern Stable Expansion by 2028

 Yacht Market Growth & Trends

The global yacht market size is expected to reach USD 12.16 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% from 2021 to 2028. The market is expected to witness significant growth owing to the increasing coastal and marine tourism activities across the globe. Furthermore, the rising standard of living and growing corporate tourism activities across the globe are expected to further drive the market.

The sports segment is expected to exhibit high growth owing to its use in personal activities as well as sports events. The increasing number of recreational sporting events, yacht trade shows, and events organized by OEMs are supporting the growth of the market in developed regions such as North America and Europe. A significant increase in the number of people participating year-on-year in marine recreational activities is also expected to further boost the market growth in these regions. Moreover, rising marine tourism and the growing population of high-net-worth individuals are also likely to contribute to the growth of the regional markets.

According to the World Bank, High-Net-Worth Individuals (HNWI) account for less than 1% of the world’s total population and more than 40% of the world’s total wealth. The growing HNWI population is driving the spending on leisure activities, including yacht travels. The demand for modern leisure yachts is particularly growing as it provides a connected experience while cruising, fishing, and so on.

The increasing adoption rate has compelled manufacturers to invest in research and development on building yachts using high-strength composite material for physical structures. Significant amounts of R&D budgets are also assigned for the integration of technologies such as IoT that enable the exchange of information through a single network. Furthermore, the digitalization of propulsion systems has also significantly increased the efficiency of yachts, thus reducing fuel consumption.

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Yacht Market Report Highlights

• The market is anticipated to experience a substantial CAGR of 5.2% on account of the growing emphasis on marine tourism
• The sports yacht segment is anticipated to register the highest CAGR over the forecast period owing to its increasing adoption in personal as well as sports applications
• The 20-to-50-meter length segment is expected to witness higher growth owing to the low operational cost, maintenance, and fuel consumption of yachts of this length size
• Asia Pacific is anticipated to register the highest CAGR over the forecast period owing to various initiatives undertaken by the government to boost marine tourism and the rising disposable income of individuals
• The novel coronavirus severely impacted the market during the initial months of the pandemic as governments imposed strict lockdowns across various regions globally
• The market is oligopolistic and is dominated by key players, such as Azimut Benetti S.p.A., Damen Shipyards Group, Heesen Group, The San Lorenzo S.p.a., Sunseeker International, Ferretti S.p.A., Alexander Marine International Co., Ltd. (AMI), and Princess Yachts Limited

Access Press Release@ https://www.grandviewresearch.com/press-release/global-yacht-market

Yacht Market Segmentation

Grand View Research has segmented the yacht market report based on type, yacht length, propulsion, and region:

Yacht Type Outlook (Revenue, USD Million, 2017 - 2028)

• Super Yacht
• Flybridge Yacht
• Sport Yacht
• Long Range Yacht
• Others

Yacht Length Outlook (Revenue, USD Million, 2017 - 2028)

• Up to 20 Meters
• 20 to 50 Meters
• Above 50 Meters

Yacht Propulsion Outlook (Revenue, USD Million, 2017 - 2028)

• Motor Yacht
• Sailing Yacht

Yacht Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • India
  • China
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)

List of Key Players in the Yacht Market

• Azimut Benetti S.p.A.
• Damen Shipyards Group
• Heesen Group
• The San Lorenzo S.p.a
• Sunseeker International
• Ferretti S.p.A.
• Alexander Marine International Co., Ltd. (AMI)
• Princess Yachts Limited
• Viking Yacht Company.

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.

Pressure Sensor Market Set to Witness an Uptick during 2021 to 2028: Grand View Research Inc.

 Pressure Sensor Market Growth & Trends

The global pressure sensor market size is expected to reach USD 24.48 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 4.6% from 2021 to 2028. The growth can be attributed to the growing application of pressure sensors in automotive, aviation, and consumer electronic appliances. The advancements in Microelectromechanical Systems (MEMS) technology and its rapid adoption in connected devices are expected to create opportunities for market growth over the forecast period.

Furthermore, increasing consumer preference for compact electronic appliances is creating the need for MEMS pressure sensors. MEMS is the technology that miniaturizes electro-mechanical and mechanical elements that are made using microfabrication techniques. Various companies are focused on providing MEMS pressure sensors for selective industries. For instance, Robert Bosch is providing MEMS pressure sensors for the consumer and automotive industries while Honeywell and NXP are focusing on automotive, medical, industrial, and aviation verticals.

Government bodies across the globe are making it mandatory to implement a tire pressure monitoring system, which is driving the demand for pressure sensors. For instance, in September 2020, the Ministry of Road Transport and Highways in India announced that the tire pressure monitoring system would become mandatory in India in the coming days. India's government is moving on the path of transforming the automotive industry to increase its contribution to GDP.

The COVID-19 pandemic is anticipated to impact market growth favorably in the near future. Heart failure is a major health problem and the leading cause of hospitalization in western countries. CardioMEMS is one of the therapeutic monitoring systems gaining traction in recent days. It is an advanced system that uses an implantable pulmonary artery pressure sensor. It was widely used for remote care for heart failure during the COVID-19 situation.

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Pressure Sensor Market Report Highlights

• In terms of product, the absolute pressure sensor segment is expected to retain its dominance over the forecast period. The growing demand for absolute pressure sensors in applications that demand the provision of low-pressure range for the measurement of the vacuum level in industries is expected to drive the segment growth
• In terms of type, the wired segment dominated the market in 2020 and is expected to witness growth over the forecast period. The growing demand for wired pressure sensors in the industrial and automotive sectors is driving the segment growth
• In terms of technology, the piezoresistive segment dominated the market in 2020. The development of Microelectromechanical Systems (MEMS) is anticipated to drive the piezoresistive pressure sensor segment growth over the forecast period
• In terms of application, the automotive segment dominated the market in 2020. Rapid growth in the usage of pressure sensors in the automotive industry, in equipment such as tire pressure measurement systems, exhaust gas recirculation systems, engine health management systems, and Pressure Monitoring Systems (TPMS), is expected to fuel the automotive segment growth
• The increasing adoption of pressure sensors in emerging economies such as China and India is expected to create growth opportunities for the market players in the Asia Pacific region over the forecast period

Access Press Release@ https://www.grandviewresearch.com/press-release/global-pressure-sensors-market

Pressure Sensor Market Segmentation

Grand View Research has segmented the global pressure sensor market on the basis of product, type, technology, application, and region:

Pressure Sensor Product Outlook (Revenue, USD Million, 2016 - 2028)

• Absolute Pressure Sensors
• Differential Pressure Sensors
• Gauge Pressure Sensors

Pressure Sensor Type Outlook (Revenue, USD Million, 2016 - 2028)

• Wired
• Wireless

Pressure Sensor Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Piezoresistive
• Electromagnetic
• Capacitive
• Resonant Solid-State
• Optical
• Others

Pressure Sensor Application Outlook (Revenue, USD Million, 2016 - 2028)

• Automotive
• Oil & Gas
• Consumer Electronics
• Medical
• Industrial
• Others

Pressure Sensor Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Russia
  • Nordic Region
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
• Latin America
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia

List of Key Players in the Pressure Sensor Market

• AlphaSense
• City Technology Ltd.
• Dynament Ltd.
• Figaro Engineering Inc.
• Membrapor AG.
• Nemoto & Co., Ltd.
• Robert Bosch LLC.
• ABB Ltd.
• Siemens AG.
• GfG Europe Ltd

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.