Which segment held the maximum share of the Computer-Aided Manufacturing market in 2022?

Computer-Aided Manufacturing Market size 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 according to report published by MarketsandMarkets. Growing industrial and robotic automation is expected to boost the growth of market across various industries globally. 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.

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Automotive industry vertical is expected to hold the largest market size in the global CAM market during the forecast period

Automotive industry vertical is continually evolving to offer vehicles powered with advanced IT technologies, which can exceed customer expectations. Automobile manufacturing requires advanced technological methods and processes. Use of CAM solution enables automakers reduce production time and cater to global demand of customers. For instance, automotive companies such as Bentley Motors (UK), Ford (US), and BMW (Germany) have adopted the CAM technology to manufacture their own car parts. With the growing complexity of the parts involved in the vehicles, automotive vertical is expected to be characterized by innovative production and design concepts which could lead the increase in adoption of CAM technologies.

The services segment is expected to grow at the fastest CAGR during the forecast period

CAM services have a wide scope of usage for efficiently carrying out various tasks performed in the entire manufacturing process of an organization. CAM services help the businesses bridge legacy systems to modern applications, deliver best experience to the engineer, mechanist, and manufacturers. This has created opportunities for vendors to provide services to enterprises across different industry verticals and help them deal with complexities occurred while configuring the CAM solution.

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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).

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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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Accounts Payable Automation Market to Grow at a Robust Pace During 2022-2024

Accounts Payable Automation Market size 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 according to report published by MarketsandMarkets. The increasing demand for controlled user access to reduce frauds related to payment is one of the major factors driving the growth of the market. Lack of digital literacy and awareness of AP automation benefits in the emerging economies are some of the challenges. AP automation in the BFSI vertical focuses on the increasing efficiency of documents by replacing paper invoices with digital invoices.

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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).

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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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Video as a Service Market 2026 Overview | Regional Outlook, Growth, Economics, Demand

Video as a Service Market size to grow from USD 3.8 billion in 2020 to USD 6.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period according to report published by MarketsandMarkets. Growing demand for real-time and remote access video services, adoption of cloud-based services by enterprises, increasing number of internet users around, and lower total cost of ownership are expected to be the major factors driving the growth of the Video as a Service market. 5G technology will bring major improvements to the cloud computing world. This is because most technology innovations can be more efficient when cloud-

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By Cloud Deployment mode, the Public cloud segment to hold the largest market size during the forecast period

The Public cloud deployment mode of the Video as a Service market is projected to hold a larger market size during the forecast period. The public cloud deployment mode focuses on deploying workloads and data on the public cloud as it provides ease to software developing companies with no management overheads and associated costs. Cloud resources are owned by third-party cloud service providers. Due to cost flexibility and scalability, the adoption of public cloud is expected to surge in the coming five years.

By Vertical, the Health Care and Life Sciences segment to record the highest growth rate during the forecast period

Under the verticals segment, the health care and life sciences segment is expected to dominate the market during the forecast period. The healthcare and life sciences vertical deals with diverse clinical, administrative, and financial content on a daily basis. This results in the requirement for channelized content insights and accurate clinical information that can be consolidated through Video as a Service solutions. Video as a Service collaborations enable healthcare providers in the telemedicine and patient care, medical education, and healthcare administration applications to offer enhanced patient care by providing them with improved communication options.

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

North America holds a strong position in the global Video as a Service market, owing to large-scale investments by organizations for outsourcing Video as a Service solutions. Countries in North America have advanced communication infrastructure that help Video as a Service solution providers offer quality services to their clients. The major growth drivers for this region include large-scale investments in the implementation of Video as a Service solutions due to the growth of video conferencing applications and the need for better video quality.

Market Players

Major vendors in the Video as a Service market include Microsoft (US), Zoom (US), Cisco (US), Adobe (US), Avaya (US), Google (US), AWS (US), Poly (US), LogMeIn (US), and RingCentral (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.

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What was the size of the global Asset Performance Management market in 2022?

Asset Performance Management Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period, to reach USD 4.0 billion by 2026 from USD 2.5 billion in 2021 according to report published by MarketsandMarkets. Key factors that are expected to drive the growth of the market are the rising demand to meet regulatory compliance and reporting standards across asset-centric organizations, growing need to manage assets efficiency, manage assets sustainability, and optimize total cost of ownership (TCO).

The asset performance management market is fragmented as there is presence of large number players across market. The major factors that are expected to drive the adoption of software among large enterprises, as well as SMEs across several verticals, including energy and utilities, manufacturing, government and defense, chemicals, healthcare and pharmaceuticals, telecommunications, consumer goods and food and beverages, and others (real estate, and transportation and logistics), are increasing adoption of cloud and digital transformation.

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Services segment to hold a larger market size during the forecast period

Based on services, the asset performance management market is segmented into two categories: professional and managed services. These services assist in building, assessing, and leveraging asset performance management environments to avoid time wastage and effort on a failed implementation. Enterprises need active support from skilled professionals to minimize their downtime during the pre-and post-installation of asset performance management solutions. These services provide the necessary support to uphold the efficiency of business processes, increase enterprise growth, and reduce unwanted operational expenses.

SMEs segment to grow at the highest CAGR during the forecast period

SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. These enterprises face greater challenges of limited budget as compared to large enterprises and require better methods to resolve complexities for improving the cost optimization of their business processes. However, the SMEs segment is expected to grow at a higher CAGR during the forecast period. Asset Performance Management solutions monitor every asset and generates data. The generated data can allow technicians to perform more accurate root cause analysis. In this way, teams throughout the organization can understand the process parameters that can lead to failures or reduced asset performance, enabling them to align more effectively across the supply network; improving planning; and reducing inventory, loss-of-market, and logistics costs. These factors are also expected to encourage SMEs to adopt asset performance management solutions and services at a rapid pace.

Chemicals industry vertical to grow at the highest CAGR during the forecast period

Chemicals is one of the fastest-growing verticals with respect to the adoption of advanced technologies and services due to high maintenance and repair costs charged because of caustic substances and safety issues around hazardous chemical inventory. The continual expense of maintenance and the rising costs of materials have pushed various chemicals manufacturers into the process of finding bleeding-edge technology to control, maintain, and improve production. Asset performance management solutions prioritize works orders, automate inventory control, improve safety and compliance throughout the production plant, and build cost-saving preventive maintenance. In terms of a chemical plant, engineers will know when a component inside a reactor is wearing down before it fails.

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North America to account for the highest market share during the forecast period

The asset performance management market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The asset performance management report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall asset performance management market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. High need to streamline operational processes and adoption of predictive analytics for monitoring equipment health and receive early warnings is expected to drive the North American and Europe markets. APAC and MEA are also expected to witness high growth rates during the forecast period.

The Asset Performance Management Market comprises major providers, such as AVEVA (UK), AspenTech (US), Bentley Systems (US), GE Digital (US), SAP (Germany), IBM (US), Detechtion Technologies (US), ARMS Reliability (US), ABB (Switzerland), Uptake (US), DNV (Norway), SAS (US), Siemens Energy (Germany), Oracle (US), Infor (US), Nexus Global (US), BISTel (South Korea), Operational Sustainability (US), Rockwell Automation (US), IPS Intelligent Process Solutions (Germany), Yokogawa (Japan), Honeywell (US), Emerson (US), GrayMatter (US), and Plasma (US). The study includes an in-depth competitive analysis of key players in the asset performance management market with their company profiles, recent developments, COVID-19 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.

Contact:

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MarketsandMarkets™ INC.

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Transportation Management System Market 2027 Emerging Trends | Challenges, Application Scope, Size, Status

Transportation Management System Market size is expected to grow from USD 11.7 billion in 2022 to USD 28.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period according to report published by MarketsandMarkets™. Factors such as the cloud-based SaaS solutions, mergers and acquisitions and the consolidation of top-tier TMS product players with new age/start up solutions, strengthening of bilateral relations between various nations and growth in global trade will drive the market. A TMS with optimization capabilities presents load options and calculates the true profitability of each load as well. This helps the carriers to enhance their profitability and reduce deadline miles.

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By components the services segment to have the highest growth rate during the forecast period

The services segment is expected to have a higher growth rate during the forecast period. The transportation management system market, by service, is segmented into consulting, implementation and integration, and support and maintenance services. The services segment is expected to witness fast growth in the future. The need to ensure the successful deployment of TMS systems without hampering ongoing critical business processes and achieve optimized performance with increased efficiency will drive the services segment.

By transportation mode, the roadways segment to have the highest market share during the forecast period

The roadways segment is expected to have the highest market share during the forecast period. The TMS market is segmented based on transportation mode into four categories: roadways, railways, airways and maritime. The significant growth in the volume of on-road commercial transportation across the world will drive the market. Also, the emergence of autonomous and connected vehicles will further increase in the demand for TMS in the roadway’s transportation mode

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North America region to account for highest market share in transportation management system market

North America is one of the prominent regions the transportation management system market. The region has witnessed the earliest adoption of cloud computing and mobile technologies and has been significantly responsive in adopting TMS solutions and services. Also the regions governments and laws support technological advancements. For instance The U.S. Department of Transportation (DOT) has taken initiatives to advance the adoption and use of emerging practices and technologies for transportation. The presence of prominent TMS vendors in North America will drive the markets growth

Key and innovative vendors in the Transportation Management System Market are Oracle (US), SAP ( Germany), Manhattan Associates (US), C.H. Robinson (US), E2open (US), Trimble (US), WiseTech Global (Australia), Descartes Systems Group (Canada), MercuryGate International (US), Blue Yonder (US), Transplace (US), Alpega Group (Belgium), Worldwide Express (US), Infor (US), Generix Group (France), 3Gtms (US), Shipwell (US), 3T Logistics & Technology Group (UK), Ratelinx (US), oTMS ( China), nShift (UK), BlueRock Logistics (Netherlands), Elemica (US), TESISQUARE (Italy), DDS Logistics ( France), Supplystack (Belgium), vTradEx (China), Shiptify ( France), GlobalTranz (US), InMotion Global (US), MP Objects (US), Logistically (US), One Network Enterprises (US), Envase Technologies (US), IntelliTrans (US), Allotrac (Australia), Revenova (US), Princeton TMX (US), CTSI Global (US) and Ultraship TMS (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