Customer Engagement Solutions Market Size Estimation, Industry Share, Business Analysis, Key Players, Growth Opportunities And Important Aspects By 2027

According to a research report "Customer Engagement Solutions Market with COVID-19 Analysis, by Component (Solutions and Services), Deployment Type (Cloud and On-premises), Organization Size, Vertical (BFSI, Telecom & IT, and Retail & Consumer Goods) and Region - Global Forecast to 2027" published by MarketsandMarkets, the Customer engagement solutions market size is expected to grow from USD  19.3 billion in 2022 to USD 32.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period. Companys focus on delivering enhanced omnichannel customer engagement is one of the key factors driving the growth of the market. The omnichannel suite helps organizations facilitate personalized conversations across multiple channels, including voice, web, mobile, and social media. It enables organizations to strengthen their regional presence by reaching out to customers through multiple touchpoints in real-time.

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The omnichannel solution segment is expected to lead the Customer engagement solutions market in 2022.

Through omnichannel, customers can access companies’ products, offers, and support services or prospects on all platforms, channels, and devices. It helps create a seamless brand experience for customers and enhances customer experience. The deployment of omnichannel solutions in the BFSI, consumer goods and retail, and telecommunication verticals is high, as the interaction and problems faced by customers are high in these verticals. The key players offering omnichannel solutions are Avaya (US) and SAP (Germany), among others.

Small and medium sized enterprises is expected to grow with the fastest growth rate during the forecast period.

The implementation of customer engagement solutions can help SMEs to reduce costs and improve business efficiency. Customer experience is very critical for SMEs, as it strengthens their business growth prospects. Adoption of customer engagement solutions would enable real-time monitoring capabilities, consistency, scalability, flexibility, cost-effectiveness, accessibility, and increased agility and productivity, which would warrant enhanced customer experience and growth for the SMEs.

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Asia Pacific likely to emerge as the fastest growing segment during the forecast period.

The growth of the customer engagement solutions market in Asia Pacific is highly driven by the rapid digitalization of enterprises across the region. According to the Computer Weekly/TechTarget IT Priorities survey of 2019, 42% of nearly 1,000 IT decision-makers in Asia Pacific revealed that they are looking to upgrade their IT infrastructure to support digital transformation initiatives, while 35% expect to harness technologies that improve employee experience and productivity. This indicates spending on software is also expected to grow to keep up with rising customer demands in terms of online accessibility of services from enterprises. Hence, this rapid investment in technologies and providing online services to the customer is expected to drive the growth of the customer engagement solutions market in Asia Pacific.

Market Players

The major vendors covered in the Customer engagement solutions market include Avaya (US), IBM (US), Microsoft (US), NICE Systems (Israel), Oracle (US), Salesforce (US), SAP (Germany), Zendesk (US), Pegasystems (US), ServiceNow (US), Open Text (Canada), Precisely (US), Verint Systems (US), eGain Corporation (US), Enghouse Systems (US), Alvaria (US), Genesys (US), Freshworks (California), IFS-mplsystems (Sweden), Calabrio (US), Khoros (US), Creatio (US), CRMNEXT (California), SugarCRM (Canada), WebEngage (India), Upshot (Texas), MoEngage (US), ChurnZero (US), and Sentimeter (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Commerce Cloud Market 2024: Global Size, Key Companies, Trends, Growth and Regional Forecasts

According to a research report "Commerce Cloud Market by Component (Platforms and Services), Organization Size, Application (Electronics, Furniture, and Bookstores, Grocery and Pharmaceutical, Automotive, and Fashion and Apparel), and Region - Global Forecast 2024", published by MarketsandMarkets, The global commerce cloud market size is expected to grow from USD 8.9 billion in 2019 to USD 27.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. Increased flexibility and performance, and reduced time and cost are expected to spur the demand for commerce cloud offerings across the globe.

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Focus on selecting the right commerce cloud solution to drive the adoption of training and consulting services

Training and consulting services are provided by highly qualified industry or domain experts. Organizations hire experts to gain an enhanced strategic outlook, improve their overall performance, and transform their business operations. By offering consulting services, enterprises understand the competencies of different commerce cloud vendors. Moreover, these services help reduce risks, minimize complexities, and increase Reutrn on Investment (RoI). Additionally, consulting services enable enterprises in making smarter decisions for the growth of their businesses. Furthermore, with the help of consulting services, the commerce cloud providers can offer tailored commerce cloud solutions to their customers and deliver maximum benefits.

Large enterprises to deploy commerce cloud platforms to effectively execute trading strategies

As commerce cloud technologies are simplifying the Information Technology (IT) aspects, several enterprises have replaced their traditional data center infrastructure technologies and various other management processes with cloud computing. Hence, a number of enterprises have built strategies inclined toward commerce cloud enablement. The major benefit large enterprises have with cloud transformation, is that the commerce cloud services are maintained and supported by the vendors themselves. Firms can thereby engage their employees in more strategic business tasks. The demand for flexible, scalable, and convenient commerce cloud solutions for large enterprises pushes service providers to come up with new technologies and offer innovative solutions. Hence, the commerce cloud market for large enterprises is growing.

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North America to dominate the global commerce cloud market in 2019

North America is expected to be the largest contributor among all the regions, owing to its adoption of commerce cloud platforms and solutions by enterprises. The top countries in the North American region, contributing to the growth of the market, include the US and Canada. The enterprises present in various countries of this region, especially in the US, have leveraged Artificial Intelligence (AI), Machine Learning (ML), and deep learning technologies as a part of their ongoing business process to stay competitive in market. North American countries have a well-established economy, which enables commerce cloud vendors to invest in new technologies. Furthermore, the region is regarded as the center of innovation where ITgiants are rolling out new offerings and aggressive collaborations are taking place pertaining to the market.

The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to expand their presence in the global market. Major vendors in the commerce cloud market include IBM (US), SAP (Germany), Salesforce (US), Apttus (US), Episerver (US), Oracle (US), Magento (US), Shopify (Canada), BigCommerce (US), and Digital River (US), Elastic Path (Canada), VTEX (Brazil), commercetools (Germany), Kibo (US), and Sitecore (India).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Accounts Payable Automation Market 2024: Global Size, Key Companies, Trends, Growth and Regional Forecasts

According to a research report "Accounts Payable Automation Market by Component (Solution and Services), Organization Size, Deployment Type, Vertical (Consumer Goods and Retail, BFSI, IT and Telecom, and Manufacturing), and Region - Global Forecast to 2024", published by MarketsandMarkets, is expected to grow from USD 1.9 billion in 2019 to USD 3.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. The increasing demand to reduce the number of delayed payments and improve the compliance rate with controlled user access and credentials leading to reduced fraudulent transactions are the major factors driving the growth of the AP automation market.

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Solutions segment to hold the highest market share during the forecast period

Manual entries for AP processes are expensive, error-prone, and highly inefficient. The AP solution automates payment processes and enables enterprises to maintain a vendor-supplier relationship. The AP automation solution offers visibility of the entire AP process from invoicing to receipt generation, ensuring proper approval, correct allocation, and timely payment and spend management. Moreover, it can be easily integrated with the Enterprise Resource Planning (ERP), thereby providing enhanced abilities to adopt changes and increase the efficiency of payment processes. AP automation provides dashboards, account selections, compliance policies, routing rules, and approvals to deliver seamless proficiencies for an organization’s operation. The AP automation solution offers 24/7 accessibility and a real-time view of the invoice status and on-demand reporting capabilities enable businesses to make data-driven decisions for the growth of a business. Moreover, the solution empowers various stakeholders in an organization, including Chief Financial Officers (CFOs), managers, accountant, and AP staff to carry out their tasks effectively, thereby reducing user-related errors in payments.

Consumer goods and retail vertical to grow at a significant CAGR during the forecast period

Retail organizations face different challenges as compared to their counterparts in other sectors. The highly competitive nature of the industry creates pressure in adopting a lean approach to deliver goods and services to customers. AP automation in the retail and consumer goods vertical refers to the entire process of paying for goods and services by organizations, i.e., from the receipt of the goods to the processing and payment of the vendor invoice. Leading organizations are implementing the AP automation software and streamlining their back-office functions to reduce costs and optimize efficiency. According to Mobile Payment Conference, in 2017, 1.5 billion people worldwide preferred online shopping. By 2019, the number is projected to grow to 2 billion digital buyers. The growing marketplace of online shopping is paving the way for enterprise merchants, as shoppers need an easy and safe way to pay for their purchases.

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North America to hold the highest market share during the forecast period

AP automation is a steady growing market in North America, including countries, such as the US and Canada. The presence of a large number of solutions and services providers in the region makes the AP automation market competitive. The well-developed digital economy in North America and the expansion of the mobile commerce industry are key factors contributing to the major market share of the region. The enterprises operating in the region are increasing their Information Technology (IT) spending to automate the financial process. Enterprises with a large volume of data and transactions have realized the need for an AP automation solution to carry out error free on-time transactions. Metro cities, such as New York, San Francisco, and Washington, have a large pool of skilled AP automation professionals who use the AP automation solution to get on-time payments to achieve business growth. Factors, such as the use of AP automation solutions empowers enterprises to have extra visibility and control into business operations; allowing AP departments to focus more on strategic tasks, such as identifying more cost savings opportunities, and helping their organization achieve greater competitive advantage is contributing in the growth of AP automation in the North American region.

The major vendors in the AP automation market are SAP Ariba (US), Sage Software(UK), Tipalti (US), FreshBooks (Canada), Zycus (US), FIS (US), Bottomline Technologies (US), Coupa Software (US),  Comarch (Poland), FinancialForce (US), AvidXchange (US), Vanguard Systems (US), Bill.Com (US), Procurify (Canada), and Nvoicepay (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

 

 

Product Lifecycle Management Market Overview, Growth, economics, Demand and Forecast to 2024

According to a research report "Product Lifecycle Management Market by Software (Collaborative Product Definition Management (cPDm) Software, Mechanical Computer Aided-Design Software (MCAD) and others), Service, Deployment, Organization, Vertical, and Region - Global Forecast to 2024" published by MarketsandMarkets, to grow from USD 50.7 billion in 2019 to USD 73.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period. Major factors expected to drive the growth of the product lifecycle management market include growing focus on developing groundbreaking smart products and factories, increasing need to build product innovation platform would support product lifecycle management-enabled applications, and increasing demand for cloud-based product lifecycle management solutions for scalability and secure IT infrastructure.

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Based on component, services segment to record a higher growth rate than the software segment during the forecast period

By component, the services segment is expected to grow at a higher rate than the software segment during the forecast period. The services segment has a significant influence on the product lifecycle management market growth. The demand for services is increasing with the growing adoption of product lifecycle management solutions by enterprises across significant application areas. Services are necessary for easy deployment, integration, and proper functioning of the software. The services segment has been further segmented into professional services and managed services. The professional services segment has also been classified into deployment and integration, consulting, and support and maintenance.

Among services, support and maintenance segment to grow at a higher rate than the deployment and integration, and consulting and advisory services segment during the forecast period

Support and maintenance services are crucial, as they directly deal with customer satisfaction and issues. Every software vendor has a dedicated support team to serve the customers. Support, software maintenance, customer portal, post-deployment assistance, and client testimonials are some of the services provided under the support and maintenance segment. To derive consistent customer satisfaction, service providers regularly focus on enhancing their product knowledge base by receiving feedbacks through interviews and surveys. These services also provide a single point of contact who would help solve customer issues quickly. The customer portal is another helping aid that offers technical tips and software updates to customer forums.

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North America to account for the largest market size during the forecast period

North America consists of developed countries, such as the US and Canada. This region is open to the adoption of new and emerging technologies. Moreover, its strong financial position enables it to invest heavily in the adoption of the latest and leading tools and techniques for ensuring effective business operations. Such advantages help organizations in this region gain a competitive edge. North America has the first-mover advantage in the adoption of new technologies, such as smartphones and cloud platforms. North America has the headquarters of many large enterprises and is host to various international events. Enterprises are willingly investing in North America. The factors expected to drive the growth of the product lifecycle management market in North America are the stable economy, technological enhancements, and advanced infrastructure.

Key and emerging market players SAP (Germany), Dassault System (France), PTC (US), Siemens (Germany), Autodesk (US), IBM (US), Oracle (US), HP (US), Atos (France), Accenturs (Ireland), Arena (US), Ansys (US), Aras (US), Infor (US), Propel (US), Kalypso (US), FusePLM (US), Bamboo Rose (US),  Inflectra (US), and TCS (India). These players have adopted various strategies to grow in the Product lifecycle management market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

 

 

India Data Center Market Size, Share, Revenue, Business Growth, Demand and Applications to 2022

According to a research report "India Data Center Market by Component (Electrical, Mechanical, Communication, Security), Model (Captive, Outsourced), Vertical (BFSI, Telecom and ITES, Defense), Trends, Vendor Ecosystem Analysis, and Porters Five Forces Analysis - Forecast to 2022" published by MarketsandMarkets, The India data center market size is projected to reach USD 1.5 billion by 2022 from USD 1.0 billion in 2018, growing at a CAGR of 11.4% during the forecast period. The market growth is driven deeper internet penetration, increase in digital data traffic, public cloud services, and higher expected growth for IoT.

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By industry verticals, the IT & telecom sector is expected to lead the market during the forecast period.

The IT & telecom segment is expected to lead the data center market in India. Media & entertainment, retail (eCommerce), and manufacturing sectors are the next significant verticals that require the most number of data centers. The government is increasingly reliant on IT-intensive services to improve its performance and has developed many Government-to-Citizen (G2C) delivery platforms, such as the National eGovernance Plan (NeGP), e-visa, and National CSR Data portal.

By components, the electrical segment will lead the market during the forecast period.

The electrical segment is set to lead the data center market in India during the forecast period. The majority of the capital investment goes into electrical and power systems, including substations, distribution transformers, diesel

Driver: Public Cloud Services Market Will Double by 2020

Higher cloud adoption will lead to a rise in the volume of data generation and hence, an increase in requirement for data storage and processing. Also, the Indian government’s National Digital Communications Policy in 2018 has mandated data localization in the country, which means cloud providers will have to set up their data centers in India.

Opportunity: High growth of the hyper-converged infrastructure market

HCI (hyper-converged infrastructure) equipment is power-hungry and requires energy management solutions to reduce operating costs. Energy-efficient solutions and devices would be an attractive option here for HCI providers to reduce energy consumption. Hence, the demand for energy-efficient solutions and accessories will increase.

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By region, Mumbai is expected to lead the market during the forecast period.

Mumbai is projected to lead the market share during the forecast period. >75% of the data centers are located in major Indian cities, such as Mumbai, Bengaluru, Chennai, New Delhi, and Hyderabad. Mumbai and Bengaluru are providing Infrastructure to most data centers, as they are hubs for BFSI(Banking, financial services, and insurance) and IT & ITeS start-ups.

Key India Data Center Market Players

CTRLS, ST Telemedia, ESDS, Netmgagic, Sterling & Wilson.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Hyper-Converged Infrastructure Market Driving Factors, Industry Growth, Key Vendors and Forecasts to 2025

According to report "Hyper-Converged Infrastructure Market by Component (Hardware and Software), Application (ROBO, VDI, Data Center Consolidation, and Backup/Recovery/Disaster Recovery), End User, Organization Size, Enterprise, and Region - Global Forecast to 2025" published by MarketsandMarkets, the global HCI market size is expected to grow from USD 7.8 billion in 2020 to USD 27.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 28.1% during the forecast period. HCI enables a highly scalable approach, wherein data center functions are pooled onto commodity hardware and are shared between virtual machines running on any host in the cluster. This approach provides agile deployment of virtualized workloads, reduction of data center complexity, and improved operational efficiency.

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The software segment to grow at a higher CAGR during the forecast period

The software component of HCI comprises a hypervisor, software-defined storage solution, and unified management console. The tightly integrated HCI software layer enables the execution of key data center functions, which improves the performance in production environments and address the capacity and performance challenges of business. The hypervisor is a critical component used in the HCI solutions as it provides virtualization and abstraction of the underlying hardware. The software-defined storage solutions ensure application performance, data availability, and flexible scalability. The unified management interface simplifies monitoring and maintaining the infrastructure.

The backup/recovery/disaster recovery application to grow at the highest CAGR during the forecast period

Datacenter outages may result in substantial losses for organizations. Disaster recovery is typically part of a wider strategy of business continuity. To ensure business continuity, organizations are increasingly switching from traditional backups to virtualized backups of a single VM/application. They are deploying HCI solutions for backup/recovery/disaster recovery applications. Backup/recovery/disaster recovery is implemented on HCI by replicating each VM to a backup server. In case of a VM failure, a system administrator can restore the backup instantly. This brings up all the critical business services and allows business operations to continue. This advantage of HCI is expected to fuel its demand over the forecast years.

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North America to dominate the HCI market during the forecast period

The global HCI market by region covers 5 major regions: North America, Europe, Asia Pacific (APAC), Middle East, and Africa (MEA), and Latin America. North America is estimated to hold the largest market size in 2020, owing to the presence of several vendors and considerable investments in adopting HCI solutions in the region. The HCI market in APAC is expected to grow at the highest CAGR during the forecast period, due to the rapid developments of the required infrastructure and the increasing need to adopt innovative technologies.

The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments adopted by the major players to expand their presence in the market. Major vendors in the HCI market include Dell EMC (US), Nutanix (US), Cisco Systems (US), HPE (US), Huawei (China), NetApp (US), VMware (US), Pivot3 (US), Scale Computing (US), Startoscale (US), DataCore (US), Maxta (US), Microsoft (US), HiveIO (US), Supermicro (US), Hitachi Vantara (US), Diamanti (US), Lenovo (China), NEC Corporation (Japan), Riverbed Technology (US), IBM (US), Fujitsu (Japan), StarWind (US), Sangfor Technologies (China), and StorMagic (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

 

 

Computer-Aided Manufacturing Market to receive overwhelming hike USD 3.4 billion in Revenues by 2023: Exclusive Report by MarketsandMarkets™

According to a research report "Computer-Aided Manufacturing Market by Component (Solution and Services), Organization Size, Deployment Type, Industry Vertical (Automotive, Aerospace & Defense, High-Tech, Industrial Equipment, Energy & Utilities), and Region - Global Forecast to 2023" published by MarketsandMarkets, The CAM market is expected to grow from USD 2.3 billion in 2018 to USD 3.4 billion by 2023, at a CAGR of 7.6% during the forecast period. Growing demand for automation of manufacturing process, production of customized products, and increasing use of CAM solution in the arena of fashion and lifestyle, prosthodontics, and prosthetics and orthotics are some major factors driving the growth of the CAM market.

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By component type, the solutions segment is expected to hold the largest market size during the forecast period

CAM solution enables enterprises to efficiently design and manufacture products with the help of CNC machines. CAM helps organizations to minimize errors in designing and manufacturing processes. Computer-Aided Manufacturing market solutions can be easily integrated with the designing tool, thereby providing enhanced ability to adapt changes and increase the efficiency of manufacturing processes. the solution enables organizations to manage design changes in an easy and fast manner. The solution empowers various stakeholders in an organization, including machinists, designers, and engineers, to carry out their tasks effectively, thereby, reducing the overall time taken in the manufacturing of a product. The Computer-Aided Manufacturing has been segmented into components, which include solutions and services. Services are further categorized into training and education and support and maintenance.

The cloud deployment type is expected to grow at a higher CAGR during the forecast period

Cloud-based services reduce the overall costs while providing highly flexible and scalable access to solutions. Security of manufacturing operations is higher in on-premises deployment type. However, cloud-based CAM solution enables organizations to reduce the overall costs associated with solution, IT infrastructure, storage, and technical staff. The cloud-based solution is a good option for organizations with limited budgets, as cloud offers enhanced speed and scalability.

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Europe is estimated to have the largest market size during the forecast period

Europe is estimated to account for the highest share of the market in 2018 and the trend is expected to continue till the forecasted year i.e. 2023. The region comprises developed countries, such as the UK, Germany and France, and is considered the most advanced region in terms of adopting automation technologies.  The region is hub for the automotive industries as they are creating adequate need of CAM solution and services. Europe region exhibits a wide presence of key industry players offering CAM solutions and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.

Major vendors offering CAM solutions and services across the globe Autodesk (US), Dassault Systèmes (France), Hexagon (Sweden), Siemens (Germany), 3D Systems (US), PTC (US), HCL (India), CNC Software (US), OPEN MIND Technologies (Germany), DP Technology Corp. (US), MecSoft  (US), SolidCAM (US), NTT DATA ENGINEERING SYSTEMS Corporation (Japan), BobCAD-CAM (US), ZWSOFT (China), and SmartCAMcnc (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441