ICT

The extended reality (XR) market size was $18.6 billion in 2019, and it is projected to showcase a CAGR of 48.3% during 2020–2030. The major factors behind this growth include the surging adoption of 5G, AR/VR, smartphones, and connected devices, soaring number of collaborations and partnerships, and mounting focus on gesture-based computing.

The augmented reality (AR) and virtual reality (VR) market size was $37.0 billion in 2019, and it is expected to reach $1,274.4 billion in 2030, while progressing at a CAGR of 42.9% during 2020–2030. This can be owed to the increasing adoption of the AR and VR technologies in the gaming, entertainment, education, tourism, and healthcare sectors.

The global music composing software market size stood at $177.4 million in 2019, and it is expected to reach $1,871.5 million by 2030, exhibiting a CAGR of 23.8% during the forecast period (2020–2030). The key factors driving the industry growth include the increasing utilization of online music streaming services, consistent growth of the media and entertainment industry, strong preference for classical music shows, and growing need for effective collaboration among musicians.

Valued at $9.3 billion in 2019, the global computer-aided design (CAD) software market size is set to witness growth of 6.6% during 2020–2030 (forecast period), reaching $18.7 billion by 2030. A major factor driving the growth of the market is the increasing usage of CAD software in the manufacturing and automotive industries.

The Indian CAD software market size stood at $445.6 million in 2019, and it is expected to reach $696.9 million by 2025, exhibiting a CAGR of 8.2% during the forecast period (2020–2025). The major factors supporting the growth of the industry include the surging utilization of CAD software by the construction sector, rising focus on smart manufacturing, growing need for fast production of goods, and surging demand for accurate and improved-quality designs.

The global slicing software market size stood at $422.2 million in 2019, and it is expected to reach $2,202.5 million by 2030, exhibiting a CAGR of 16.7% during the forecast period (2020–2030). The major factors supporting the industry growth include the rising demand for integrated slicing software and need for improved manufacturing speed and widespread utilization of 3D printing in the healthcare, aerospace, automotive, jewelry, and other industries.

Valued at $3.1 billion in 2018, the global geotechnical instrumentation and monitoring market is expected to advance with a CAGR of 11.8% during 2019–2024. Growth in the construction sector across the world can be viewed as the key driver for the market. Moreover, growing urbanization and increasing government efforts toward developing sustainable infrastructure are supporting the market growth.

The micro battery market revenue stood at $418.2 million in 2018, and the market is predicted to progress at a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, growing adoption of the internet of things (IoT) in medical devices, and soaring usage of compact batteries in the healthcare industry are the major factors fueling the expansion of the market.

Valued at $81.7 million in 2019, the global certificate authority market size is expected to witness growth of 12.3% during the forecast period (2020–2030), reaching $285.7 million by 2030. The increasing awareness among online users about protected web access, rising internet users, growing number of transactions that require secure connection and authentication, and rising need to create trust among the growing online customer base are the most prominent factors that are boosting the growth of

Valued at $3.5 billion in 2019, the global webgame market is projected to reach $6.5 billion by 2030, advancing at a CAGR of 5.7% during the forecast period (2020–2030). The high adoption of smartphones and tablets, coupled with the increasing use of social media, is one of the factors that are driving the growth of the market.

The global application platform as a service (aPaaS) market was valued at $6,023.3 million in 2020, and it is expected to showcase a CAGR of 14.2% during the forecast period (2021–2030). This is primarily attributed to the increasing preference of customers for advanced software and rising demand for cloud computing.

The size of the global 5G infrastructure market in 2020 was ~$1.5 billion, and it is expected to show significant growth during the forecast period (2021–2030). The key factors responsible for the growth of the market are an increase in the adoption of technologies that demand fast internet connection, such as artificial intelligence (AI);

The agricultural drones market revenue stood at $1.5 billion in 2018, and it is projected to progress at a CAGR of 25.0% during 2019–2024. The market growth is driven by the relaxation in the government norms for drones in Germany, the U.S., Brazil, China, Brazil, and India and high demand for agricultural products.

The global e-signature market was valued at $1,527.7 million in 2021, and it is expected to reach $12,721.5 million by 2030, advancing at a CAGR of 26.6% during 2021–2030. This is ascribed to the growing security concerns across enterprises, the increasing government support, and the surging adoption of innovative technologies in developing countries such as India, China, and Brazil.

The global digital signature market value stood at $1,858.3 million in 2020, and it is expected to demonstrate a CAGR of 29.2% during the forecast period (2021–2030). This is attributed to the growing need for authenticating user identity and for smoother digital transaction management.

The global mobile virtual network operator (MVNO) market generated revenue of $66,582.0 million in 2020, which is expected to witness a CAGR of 7.1% during the forecast period (2021–2031). The surge in the penetration of mobile devices and demand for low-cost mobile services, rapid growth of triple-play services in developing countries, and increasing demand for high-speed internet connectivity are some of the key factors supporting the growth of the market across the globe.

The global corporate telephony market is projected to show significant growth during the forecast period (2021–2030). It can be credited to the rapid increase in investments in corporate telephony and in the adoption of unified communication systems. Organizations, including in the government and healthcare sectors, are using corporate telephony technologies in order to increase productivity and save time.

The global data center infrastructure management (DCIM) market stood at ~$1.5 billion in 2020. The need for gaining end-to-end visibility for predicting capacity management requirements, efforts to improve data center uptime and energy efficiency, rising demand for sustainability and a low carbon footprint, and increasing number of hyperscale data centers are helping in the growth of the global data center infrastructure management market.

The agriculture sector contributed 17.8% to the gross domestic product (GDP) of India in 2020, and its contribution is expected to rise in the coming years. As a result, the Indian farming as a service (FaaS) market is expected to observe steady growth in the forecast period.

The global edge artificial intelligence (AI) software market value was ~$1 billion in 2020, and during the forecast period (2021–2030), it is expected to grow at a substantial rate. The increasing usage of cloud-based applications in many sectors, fast improvements in the internet of things (IoT) technology, and developments in a number of smart applications are significant driving elements for the edge AI software market.

The global anti-money laundering market generated ~$3 billion revenue in 2020, and it is predicted to show a substantial growth rate during the forecast period (2021–2030). The key factors behind the growth of the market are the rise in the number of money laundering cases and increase in the requirement for monitoring money laundering activities. Further, the growth in information technology (IT) spending is boosting the demand for AML solutions.

The global enterprise mobility management (EMM) market size was ~$16 billion in 2020, and it is expected to show significant growth during the forecast period (2021–2030). The key factors behind the growth of the enterprise mobility management market are the high adoption rate of the bring your own device (BYOD) policy across industries and increasing internet and smartphone penetration.

The global online fitness service market is expected to grow at a significant rate during the forecast period (2021–2030). The rising penetration of smart devices, such as smartphones, smartwatches, and smart TVs, rising internet penetration, and increasing awareness about personal fitness are some of the strongest factors driving the online fitness market.

The global digital twin market generated revenue of $3,210.1 million in 2020, and it is expected to reach $184,517.4 million by 2030, advancing at a CAGR of 50.0% during the forecast period. The growing adoption of the internet of things (IoT), artificial intelligence (AI), 5G, and machine learning (ML) technologies, increasing penetration of Industry 4.0 standards, and rising demand for cloud services are supporting the growth of the market.

The drone analytics market revenue stood at $2,815.6 million in 2020, and the market is predicted to advance at a CAGR of 32.1% between 2020 and 2030. The major factors driving the market growth include the rising demand for drones, surging global information technology (IT) spending, increasing preference for flight intelligence, escalating number of advancements for better drone development, and growing need for gathering real-time information on a specific area or building.

The European MVNO market generated $27,748.1 million revenue in 2020, and it is expected to grow at a CAGR of 5.8% during 2020–2030. This growth can be attributed to the increase in adoption of segment-targeted pricing and innovative distribution strategies, rapid deployment of cloud-based solutions, rising need for triple-play services in developing countries, and surge in mobile device penetration and demand for low-cost mobile services.

The U.S. CAD software market generated $2,458.6 million revenue in 2020, and it is expected to grow at a CAGR of 5.7% during 2020–2030. The key factors responsible for the growth of the market is the increasing use of the CAD software in the packaging industry, and the growing adoption of CAD software in automotive industry.

From 17.6 million units in 2019, the total sales in the global commercial air conditioner (AC) market are expected to rise to 25.4 million units by 2030, at a CAGR of 3.5% during the forecast period (2020–2030). The key drivers for the growth of the market are the increasing number of construction projects around the world and surging disposable income of people.

The global enterprise asset management market generated revenue of $5,682.1 million in 2020, and it is expected to grow at a CAGR of 14.2% during 2020–2030. The key factors responsible for the growth of the market include the surging need for reduction of maintenance and procurement expenses, increasing adoption of these solutions for effective utilization of assets, and improved return on assets (ROA).

The global robotic process automation market was valued at $2,078.3 million in 2020, and it is expected to grow at a CAGR of 36.3% during 2020–2030. The key factors responsible for the growth of the market include the ease of handling business processes, higher efficiency, and enhanced customer experience offered by RPA. Moreover, the surge in the demand for virtual workforces is aiding the market growth.

The global marketing automation market generated $4,438.7 million revenue in 2020, and it is expected to grow at a CAGR of 12.3% during 2020–2030. The key factors responsible for the growth of the market include the rising adoption of digital marketing, surging social media usage across the globe, and increasing implementation of marketing automation software by small and medium enterprises (SMEs).

The global low-code development platform market was valued at $12,500.6 million in 2020, and it is expected to grow at a CAGR of 31.3% during 2020–2030. The key factors responsible for the growth of the market include the increase in demand for business digitization, less dependency on IT professionals, stringent government norms, rise in need for automation of workflows, and increased use of low-code development tools that minimizes the problem of “shadow IT”.

The global automated machine learning market was valued at $346.2 million in 2020, and it is expected to grow at a CAGR of 45.6% during 2020–2030. The key factors responsible for the growth of the industry include the increasing demand for efficient fraud detection solutions, surging need for personalized product recommendations, and rising importance of predictive lead scoring.

The global AI in fintech market generated revenue of $7,702.7 million in 2020, and it is expected to advance at a CAGR of 19.8% during 2020–2030.

The digital transaction management market of Saudi Arabia generated revenue of $60.88 million in 2020, and it is expected to grow at a CAGR of 35.7% during 2020–2030. The key factors responsible for the growth of the market include the increasing inclination for transferring business processes to digital platforms, increasing adoption of cloud solutions, advancements in technology, and rising spending power of end users.

The GIS market generated revenue of $8,185.9 million in 2020, and it is expected to grow at a CAGR of 11.6% during the forecast period (2020–2030). The key factors responsible for the growth of the industry include the increasing investments, proliferating availability of spatial data and cloud technology, and surging need for global geographic information system (GIS) solutions in the transportation sector.

The global AI in retail market is estimated to generate $1,714.3 million revenue in 2021, and it is expected to witness a CAGR of 40.5% during 2021–2030. The growing online retail sales, escalating focus of retailers on enhancing customers’ shopping experience, increasing dependence on digital marketing, and surging investments in AI, complemented by supportive government policies, are the key factors contributing to the growth of the industry globally.

The global telecom consulting market is estimated to generate $5,307.2 million revenue in 2021, and it is expected to grow at a CAGR of 11.8% during 2021–2030. The key factors responsible for the growth of the market include the increasing requirement for strong network connectivity and rapid adoption of advanced technologies by businesses.

The global IoT in manufacturing market is estimated to generate $62.1 billion revenue in 2021, and it is expected to grow at a CAGR of 13.9% during 2021–2030. This is attributed to the rapid industrial automation, improving inventory management technologies, and increasing need for higher production efficiency.

The global SLAM technology market generated an estimated revenue of $157.5 million in 2021, and it is expected to grow at a CAGR of 42.2% during 2021–2030. The key factors responsible for the growth of the market include the emergence of autonomous vehicles, increasing number of augmented reality (AR) applications, and booming adoption of unmanned aerial vehicles (UAVs).

The global stepper motor market size was $2.5 billion in 2019, and it is projected to register a CAGR of 3.4% over the forecast period (2020–2030). Technological advancements in stepper motors and the increasing demand for miniature stepper motors are some major growth factors driving the stepper motor industry.

The global education technology market size stood at $237.6 billion in 2021, which is expected to reach $998.4 billion by 2030, advancing at a CAGR of 17.3% during 2021–2030. This is ascribed to the emergence of AI and digitalization in education technology.

The global digital transaction management market size was valued at $8,051.2 million in 2021, and it will grow at a CAGR of 23.4% during 2021–2030. There is a paradigm shift toward workflow and process automation across a wide range of industry verticals. Enterprises all over the world are looking forward to employing efficient and seamless business methods that can be easily implemented.

The interactive kiosk market size stood at $26,312.3 million in 2021, and it is expected to rise to $51,582.0 million by 2030, at a CAGR of 7.8% during 2021–2030.

The global cloud gaming market size was $4,500.7 million in 2021, and it will grow at a CAGR of 42.8% during 2021–2030. Cloud gaming's growing popularity, combined with the introduction of enhanced, cross-platform gameplays, is expected to drive the market growth.

The global satellite spectrum monitoring market size stood at $3,291.2 million in 2021, which is expected to reach $6,127.3 million by 2030, advancing at a CAGR of 7.1% during 2021–2030. This is ascribed to the intensifying signal interference due to satellite communication (SATCOM) proliferation and the increasing spectrum congestion owing to the advancements in technology.

The contact center software market size was valued at $23,161.7 million in 2021, and it is expected to grow at a CAGR of 18.0% during 2021–2030. The growth of the industry can be primarily attributed to the surging integration of AI-powered software into cloud-based contact centers, to enrich customer experience.

The global mobile gaming market size was $93,163.8 million in 2021, and it is expected to grow at a CAGR of 12.2% during 2021–2030. The growing adoption of innovative technologies for making games, as well as the increasing smartphone usage, is an important contributor to the growth of the market.

The conversational artificial intelligence (AI) market size was $3.2 billion in 2018, and it is expected to cross $15.0 billion by 2024, registering a CAGR of 30.2% during 2019–2024.

The European e-signature market generated $711.8 million revenue in 2021, and it is predicted to reach $10,504.7 million by 2030, advancing at a CAGR of 34.9% during 2021–2030. This is primarily due to the rise in prevalence of remote working, favorable government laws and regulations, increase in the volume of online documentation processes, and cost-effectiveness of e-signatures.

The global payment processing solutions market size stood at $90.4 billion in 2021, which is expected to reach $569.2 billion by 2030, advancing at a CAGR of 22.7% during 2021–2030.

The global identity and access management market size in 2021 was $12,762.3 million, and it is expected to advance at a CAGR of 13.3% during the forecast period, to reach $39,184.4 million by 2030. Identity and access management is a security discipline that enables authorized users to access proper resources at appropriate times and for apt reasons.

The global e-signature market was valued at $1,527.7 million in 2021, and it is expected to reach $12,721.5 million by 2030, advancing at a CAGR of 26.6% during 2021–2030. This is ascribed to the growing security concerns across enterprises, the increasing government support, and the surging adoption of innovative technologies in developing countries such as India, China, and Brazil.

The global smart meters market size was $13.1 billion in 2019, which is expected to witness a CAGR of 4.9% during the forecast period (2020–2030), to reach $20.0 billion in 2030.

The U.S. HVAC services market valued at $25,625.8 million in 2019, and it is expected to advance with a CAGR of 3.1% during the forecast period (2020–2030). The rising need for energy-efficient HVAC systems, surging infrastructure developments, and increasing replacement demand for HVAC systems are expected to drive the industry growth.

The global smart irrigation market revenue stood at $1,404.4 million in 2021, and it is expected to grow at a compound annual growth rate of 13.8% between 2021 and 2030. This is ascribed to the increased R&D activities and the rise in the adoption of energy-efficient smart irrigation systems.

The global metaverse market revenue crossed $148.5 billion in 2021, and it is expected to advance at a CAGR of 29.7% during 2021–2030, to reach $1,542.9 billion by 2030. This is ascribed to the surging demand for metaverse to purchase digital assets using cryptocurrencies.

The global content services platforms market size was valued at $39.8 billion in 2021, and it is expected to advance at a CAGR of 16.4% during 2021–2030, to reach $155.8 billion by 2030. The major factors credited for the growth of the market include the large creation of digital content across enterprises along with the increase in implementation of social, mobile, analytics, and cloud (SMAC) technologies.

The global embedded security market size was $6,140.8 million in 2021, and the market size will advance at a 6.1% CAGR during the forecast period, to reach $10,470.0 million by 2030. The growth of the industry is attributed to the increasing number of cyber-attacks and security breaches in smart wearable devices, consumer electronics, and IoT devices.

The global video surveillance as a service market size in 2021 was $2,992.4 million, and it is expected to advance at a CAGR of 18.3% during the forecast period, to reach $13,584.3 million by 2030. A video surveillance system manages several video systems, to collect, manage, and present video in a clear and simple manner.