How is Digital Audio Workstation Impacting Future Growth Demand?

Digital Audio Workstation Market size is expected to grow from USD 2.0 billion in 2018 to USD 3.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period according to report published by MarketsandMarkets. The demand for DAW is expected to grow over the next 5 years, owing to several factors, including the increasing adoption of cloud-based audio workstations and growing digitization of instruments. Increasing demand for AI-generated music, growing media & entertainment industry, and increasing adoption of Android-based operating systems are the key growth factors for the market.

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The services segment of the market is anticipated to grow at a higher CAGR as compared to software segment during the forecast period.

Implementation and consulting services subsegment is estimated to grow at a higher as compared to the managed services subsegment during the forecast period. This growth is expected to be driven by the increased demand for digital audio workstations across the media & entertainment and education industries. Services are an essential part of the software deployment and execution lifecycle. Services, including consulting, product support, updates, and maintenance, are required at various stages, starting from pre-sales requirement assessment to post-sales product deployment and execution, thus enabling the client to get better return on investment (RoI).

The professionals/audio engineers and mixers segment is expected to account for the largest market size during the forecast period.

The digital audio workstation market has been segmented based on type into editing, mixing, and recording. Audio engineers set up and test sound equipment before events, broadcasts, and recordings. Digital audio workstations help sound engineers produce music by balancing and adjusting sound sources using equalization and audio effects mixing, reproducing, and strengthening the sounds. Sound engineers are professionals who use digital audio workstations to record, edit, mix, and master music to improve sound quality and add sound effects to recordings. These workstations enable sound engineers to work with video editors and synchronize video with audio tracks.

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APAC market is expected to grow at the highest CAGR during the forecast period.

The digital audio workstation market in Asia Pacific has gained momentum and is expected to grow at the highest rate in this region during the forecast period. Although digital audio workstations have witnessed increased adoption over the past couple of years in the region, various companies in the region are yet to take advantage of the increasing adoption. However, increasing awareness about the real-time audio and video processing, supplemented with competently designed digital audio workstation solutions offered by vendors present in this region, has led Asia Pacific to emerge as a high-potential market. Countries, including China, Japan, India, Singapore, and South Korea, have huge potential for vendors to enhance their market share. The high rate of internet usage and increased adoption of smartphones in the region facilitates companies to adopt advanced solutions and forge strong connections with target audiences. In addition, this region is witnessing an increasing demand for cloud-based digital audio workstation solutions as a result of increasing internet penetration.

Major vendors offering Digital Audio Workstations globally include Apple (US), Adobe (US), Avid (US), Ableton (Germany), Steinberg (Germany), MOTU (US), Acoustica (US), Presonus (US), Magix (Germany), Native Instruments (Germany), Cakewalk (US), Image-Line (Germany), Bitwig (Germany), Renoise (Germany), and Harrison Audio Consoles (US). The study includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

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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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Facial Recognition Industry: A Complete Business Guide

 Facial Recognition Market size is expected to grow from USD 3.8 billion in 2020 to USD 8.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.2% during the forecast period according to report published by MarketsandMarkets. The major factors driving the growth of the facial recognition market are the growing importance of the surveillance industry, increasing investment in facial recognition technologies by the government and defense sector, and increasing technological advancement across industry verticals. However, facial occlusion and face detection error, and lack of knowledge and awareness are some of the major challenges hindering the growth of the facial recognition market.

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By component, services segment to have fastest CAGR during the forecast period

The services segment is estimated to have the fastest growth rate in the facial recognition market. Services are provided by facial recognition software providers that help in implementing the solution without purchasing it. Services are further classified into training and consulting and cloud-based facial recognition. In training and consulting services, feasibility assessment, analysis, and advisory of large-scale governmental and military projects are all included. Features of cloud-based facial recognition services include time tracking, gender recognition, head pose estimation and analytics, and statistical overview related to the buying patterns are included.

By application, law enforcement segment to have highest market share during the forecast period

By application area, the facial recognition market has been mainly categorized into emotion recognition, attendance tracking and monitoring, access control, law enforcement, and others. Over the past decade, many major technology players have acquired companies that are operating in the facial recognition domain to add value to their own services. For instance, technology giants, such as Microsoft, Amazon, and Google, are exploring into the space of facial recognition due to the increasing demand for this technology.

Among the verticals, government and defense to hold the largest market size during the forecast period

The growing number of government and defense investments in implementing facial recognition technology for various activities, such as border control and criminal identification, are driving the adoption of the facial recognition technology solutions and services. Facial recognition eases the process of identification and verification; hence it is being adopted widely for immigration at airports and attendance tracking and monitoring. The increasing technological advancements across sectors are encouraging enterprises to adopt facial recognition tools and services for easier manual processing and time-saving. Various governments are relying on ubiquitous sensors and powerful analytics algorithms, instead of the physical presence of a human. In the war against COVID-19, several governments have implemented these new surveillance devices in healthcare, public safety, and surveillance applications. There are some major surveillance and authentication use cases of facial recognition to fight against COVID-19. Governments of all the COVID-19 affected nations have allocated special budgets to fight the epidemic

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North America to hold the largest market size during the forecast period

The North American region consists of developed countries that are technologically advanced with well-developed infrastructures. Owing to their strong economies, the US and Canada are expected to be major contributors to the growth of the facial recognition market. With technologies advancing every single day and growing economies of North America, companies in the region can afford to invest huge amounts on the adoption of these technologies. North America has a history of the use of facial recognition solutions and services. Flourishing technologies, such as smart infrastructures, smart city initiatives, the use of ePassports, and eVisa, are factors driving the growth of the facial recognition market.

Major vendors in the global facial recognition market include NEC Corporation (NEC) (Japan), Aware, Inc. (Aware) (US), Ayonix Corporation (Ayonix) (Japan), Cognitec Systems GmbH (Cognitec Systems) (Germany), NVISO SA (nViso) (Switzerland), Animetrics (US), Neurotechnology (Lithuania), Daon (Ireland), Stereovision Imaging, Inc. (SVI) (US), Techno Brain (Dubai), Innovatrics (Bratislava), id3 Technologies (id3) (Israel), Thales (France), Idemia (France), Nuance Communications, Inc. (Nuance) (US), BioID (Germany), Fulcrum Biometrics, LLC. (Fulcrum Biometrics) (US), TrueFace.AI (US), Amazon (US), FacePhi (Spain), Herta Security (Herta) (Spain), Kairos AR, Inc. (Kairos) (US), SightCorp Inc. (SightCorp) (The Netherlands), and Microsoft Corporation (Microsoft) (US).

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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.

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Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

How Call Center AI Will Change the Future and How You Can Benefit?

 Call Center AI Market size is projected to grow from USD 1.6 billion in 2022 to USD 4.1 billion by 2027; it is expected to grow at a CAGR of 21.3% % during 2022–2027 according to report published by MarketsandMarkets. AI can provide call center agents with robust historic data and insights about a customer, empowering agents to deliver cross-selling and up-selling opportunities. Organizations can also leverage AI-enabled chatbots and virtual agents to automate repetitive and manual processes, such as order placement, balance inquiries, general inquiries, technical assistance, and other customer services.

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The SMEs segment is estimated to have a higher CAGR during the forecast period

The SMEs segment is projected to register a higher CAGR during the forecast period due to the growing need to enhance business processes, reach new customers, stay competitive and control their spending. Moreover, the growing need to enhance business processes, reach new customers, stay competitive, and control their spending to boost the growth of the call center AI solutions among SMEs.

The phone mode of channel segment is estimated to hold the largest market size during the forecast period

Based on the mode of channel, the phone segment is expected to hold the largest market size during the forecast period due to the rising penetration of smartphone users across the globe. The phone mode of channel is preferred by everyone, including tech-savvy and non-tech-savvy people as it offers an enhanced user experience. The phone provides multilevel IVR, queue callback, advanced routing, warm transfer, and real-time metrics. Customers tend to use the smartphone to seek help for urgent matters, complaints, and persistent issues as this preferred mode of channel improve customer satisfaction rates and reduce miscommunication that arises from text messages.

The cloud segment is expected to have a higher CAGR during the forecast period

Based on deployment, the cloud segment is expected to have a higher CAGR during the forecast period. The cloud technology benefit of easy deployment and minimal capital requirement facilitates the adoption of the cloud deployment model. The increasing demand for scalable, easy-to-use, and cost-effective solutions is expected to boost the demand for cloud-based call center AI in the market. Call Center AI solutions are expected to accelerate the growth of the cloud segment in the call center AI market. Moreover, cloud-based call center AI solutions enable business operations to improve employee productivity and save OPEX. Hence, the cloud-based deployment mode is gaining traction in the coming years.

The workforce optimization segment is expected to have the highest CAGR during the forecast period

Based on application, The market size of the workforce optimization segment is estimated to be the largest as the rising need to train, schedule, and monitor the employee’s performance and effectively manage agent performance would drive the growth of the workforce optimization application in the market.

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Based on regions, the North America is expected to hold the largest market share during the forecast period

Based on Region, North America is expected to hold the largest market share as in North America call center AI solutions and services are highly effective in most organizations and verticals due to the increasing need to provide businesses with a way to operationalize and get more value from data assets. The increased smartphone adoption and technological advancements in the call centers boost the adoption across North America.

Key players offering Call Center AI market are IBM (US), Microsoft (US), Oracle (US), AWS (US), SAP (Germany), Google (US), Avaya (US), NICE (Israel), Nuance Communications (US), Genesys (US), 8x8 (US), Artificial Solutions (Sweden), Zendesk (US), Five9 (US), RingCentral (US), Talkdesk (US), Dialpad (US), Twilio (US), Kore.ai (US), Inbenta (US), Creative Virtual (UK), Haptik (India), Rulai (US), Pypestream (US), Avaamo (US), Senseforth.ai (US), Observe.AI (US), Yellow.ai (US), Ultimate.ai (Germany), and Cognigy (Germany).

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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

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USA: +1-888-600-6441

The Reasons Why Desktop Virtualization Industry Have Become More Popular Over The Past Decade

 Desktop Virtualization Market size is expected to grow from USD 12.3 billion in 2022 to USD 20.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period according to report published by MarketsandMarkets. Desktop virtualization solutions provides a consistent and secure means for employees to work anywhere, thereby reducing the number of PCs and expensive hardware at workplaces, resulting in a decline in the cost for hardware maintenance. Desktop virtualization makes it easier for employees to access enterprise computing resources. Employees can work anytime, anywhere, from any supported device with an Internet connection.

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The BFSI vertical is expected to lead the Desktop virtualization market in 2022.

Desktop virtualization solutions help banks to achieve their business objectives of growth and sustainability by transforming the traditional PC system into a virtual environment. Today, banks are leveraging digitalization to make the workplace more flexible. Banks and financial institutions have adopted BYOD services to provide flexibility, in terms of working hours, to employees. These services allow them access to information at work, at home, or during travel. Desktop virtualization helps tighten security and follow compliance measures effectively even when banks consider expanding across geographic locations, including remote and rural areas.

Desktop-As-A- Service is expected to grow with the fastest growth rate during the forecast period.

The DaaS is a cloud-based, highly secure desktop virtualization approach that allows multiple users access a single instance of software application. It allows users to work from anywhere using their own devices, including thin clients, desktops, notebooks, tablets, and phones with high network bandwidth.

The key players offering DaaS in the desktop virtualization market are VMware (US), Cisco Systems (US), and Citrix Systems (US).

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

The growth of the desktop virtualization 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 demands in terms of online accessibility of services from enterprises. Hence, this rapid investment in technologies and providing online services is expected to drive the growth of the desktop virtualization market in Asia Pacific.

Market Players

The major vendors covered in the Desktop virtualization market include Citrix systems (US), VMware (US), Microsoft (US), Cisco Systems (US), Oracle (US), IBM (US), Huawei (China), Kyndryl Holdings (US), DXC Technology (US), NTT DATA (Japan), Amazon Web Services (AWS) (US), Softchoice (Canada), Nutanix (US), Pure Storage (US), NetApp (California), Ivanti (US), Nasstar (UK), Datacom (New Zealand), NComputing (US), Evolve IP (US), Ericom Software (US), Parallels International (US), V2 Cloud (Canada), Kasm (Virginia), Itopia (US), ClearCube (US), Hewlett Packard Enterprise (US), Adar (US), Systancia (France), and HiveIO (US).

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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

How is Bot Services Impacting Future Growth Demand?

 Bot Services Market size to grow from USD 1.6 billion in 2022 to USD 6.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 33.2% during the forecast period according to report published by MarketsandMarkets. Various factors such as rise in need for 25x7 customer support at a lower operational cost coupled with minimizing of human errors leads to an increase in accuracy are expected to drive the adoption of bot services in the market.

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According to Microsoft, Azure Bot Service provides an integrated development environment for bot building. Its integration with Power Virtual Agents, a fully hosted low-code platform, enables developers of all technical abilities to build conversational AI bots without the need for any further coding. The integration of Azure Bot Service and Power Virtual Agents enables a multidisciplinary team with a range of expertise and abilities to build bots inside a single software as a service (SaaS) solution.

Healthcare and Life Sciences vertical to witness the highest CAGR during the forecast period

The segmentation of the bot services market by vertical includes BFSI, retail & eCommerce, healthcare & life sciences, media & entertainment, travel & hospitality, IT & telecom, government, and others (automotive, utilities, education and real estate). The healthcare industry is developing rapidly due to many major technological advancements to enhance the overall patients experience. Hospitals and other health institutions are increasingly adopting bot services to improve the overall experience of patients, doctors, and other staff. Additionally, bot services can enhance patient experience and build patient loyalty, while improving organizational efficiency. Moreover, bots, also known as virtual health assistants, notify patients about their medication plan, address concerns, deliver diagnosis reports, educate them regarding certain diseases, motivate them to exercise, and personalize user experience.

Large Enterprises segment to register for the higher market size during the forecast period

Based on organization size, the bot services market is segmented into large enterprises and SMEs. Currently, the market share of large enterprises is higher; however, the market for SMEs is expected to increase at a higher CAGR during the forecast period. Large enterprises have a large customer base that is to be managed via collaborative work teams to enhance customer experience. Bots can handle a large number of queries in multiple formats and languages, and provide self-support services to customers and help them get whatever information they seek, thus enhancing customer service.

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Asia Pacific to have the highest CAGR during the forecast periods

The bot services market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific is expected to have the highest CAGR during the forecast period. The region is growing at a good pace because of the major multinational players coming over and a lot of new entrepreneur setups are adopting cloud-based bot services, as these services help improve their operational efficiency, streamline their operations, and enhance the prevailing customer experience. China, Japan, and India are displaying ample growth opportunities in the bot services market.

Some major players in the Bot Services Market include Microsoft (US), IBM (US), Google (US), Oracle (US), AWS (US), Meta (US), Artificial Solutions (Sweden), eGain (US), Baidu (China), Inbenta (US), Alvaria (US), SAP (Germany), CM.com (Netherlands), Creative Virtual (UK), Kore.ai (US), [24]7.ai (US), Gupshup (US), Rasa (US), Pandorabots (US), Botego (US), Chatfuel (US), Pypestream (US), Avaamo (US), Webio (Ireland), ServisBOT (US), Morph.ai (India), Cognigy (Germany), Enterprise Bot (Switzerland), Engati (US), and Haptik (US).

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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