Scope of Personalization to Fuel Preference for APT-based IPaaS

19 September 2018: Integration Platform as a Service (IPaaS) is a multi-tenant platform that offers a cloud service for process, data, application, and application programs integration. It supports on-premise, cloud, and hybrid deployment and scales to address high volume demands of Electronic Data Interchange (EDI), mobile, and Extract, Transform, and Load (ETL) environments. Need for scalability and business agility is expected to escalate the demand for IPaaS.

Growing Trend of Automation to Promote Process Integration

On the basis of integration, IPaaS can be classified into process-based, application-based, Application Program Interface (API)-based, and data-based. Among these, demand for API integration will remain strong through 2025. There is an increasing inclination toward this category owing to rising awareness regarding the merits of APIs such as high efficiency, wider reach, and scope of personalization. Introduction of advanced IPaaS with API integration can rev up the adoption rate.

For instance, in May 2017, Informatica came up with an advanced version of Informatica Intelligent Cloud Services that features a next-generation user experience running on a modern API-based microservices architecture. Demand for process integration will also register a sharp rise in coming years. This type of integration helps in better streamlining of processes. Emerging ubiquity of automation is supporting the growth of the segment.

Market Insights

According to a report by Grand View Research Inc., the global integrated platform as a service (IPaaS) market is projected to reach USD 2.70 billion by 2025. Surging demand for lean and quicker integrated platform is contributing to the growth of this market. Rising need to cut down on high cost, complexity, and lengthy delivery times in infrastructure development for integration is encouraging rapid technological advancements in this field.

This factor is also playing a vital role in the development of the global market. Geographically, the North America regional market will maintain dominance throughout the forecast period (from 2018 to 2025). Some of the prominent companies in the market are MuleSoft, Inc.; Dell Boomi; Microsoft Corp.; SnapLogic; and Oracle Corp.

Read more @ 

https://www.grandviewresearch.com/industry-analysis/integration-platform-as-a-service-ipaas-market

Retail Sourcing & Procurement Software to Simplify Purchasing

The craze of online shopping has culminated in major brands opening e-stores to capitalize on the trend. Retail sourcing and procurement is a major step in the business model of retail chains to assess consumer demand and purchase required stocks. Technologies such as big data and cloud have allowed these chains to digitize the process in order to provide customers with an enhanced experience. Implementation of these technologies can manage to satiate consumer demand.

Development of mobile applications has managed to bring the store into consumer pockets. Consumers’ search patterns and likes provide insights to retailers regarding their future shopping preferences. Automation of sourcing and procurement processes has brought down labor costs of stores.

Streamlining the Supply Chain

Cloud, on-premise, and hybrid are various deployment solutions of retail sourcing and procurement. The on-premise segment accounted for over 41% market revenue share in 2016. On-premise solutions are a perfect fit for small and medium enterprises (SMEs) to automate their purchasing process and save on laborious paperwork. However, the segment may lose its share to other segments owing to high investment costs.

The cloud segment is projected to grow at a CAGR of 12.1% over the forecast period (from 2018 to 2025) due to its capacity to skimp on production expenses. Retail solutions, which provide source-to-pay options using social media and automation, are expected to augur segment growth in the near future. Scalability and low rental costs make it a prime investment for retail players.

The hybrid segment has the highest potential for growth on account of automated software allowing retailers to set up shared service centers while dealing with third parties. This is exemplified by procurement solutions offered by the alliance of SAP and Deloitte.

Market Outlook

The global retail sourcing and procurement market valuation is anticipated to reach USD 2.74 billion by 2025, according to a report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.5% from 2018 to 2025 due to increasing centralization of procurement processes. Growing integration of technologies such as big data, cloud, and Internet-of-Things (IoT) is projected to facilitate implementation of processes in the retail industry. Moreover, rise of online shopping along with changing buying patterns of consumers can bolster the market growth over the next few years. Prominent market players include IBM Corporation; JAGGAER, Inc.; SAP SE; and Oracle Corporation.

Read more at:

https://www.grandviewresearch.com/industry-analysis/retail-sourcing-procurement-market

Better Urban Planning with Geographic Information Systems

Geographic information systems (GIS) are software designed to capture, manage, and relay geospatial data. Instance of these systems were present in the form of Google Maps and Earth. Development in intelligent transportation systems and construction of smart cities induced the demand for GIS in order to provide accurate data for astute planning. Additional benefits of GIS systems include prevention of accidents on highways and integration in pedestrian warning systems to save lives.

Accumulation of Spatial Data

Major application segments of GIS include aerospace & defense, oil & gas, mining & geology, government, construction, agriculture, utilities, and transport and logistics. The construction segment is expected to exhibit a CAGR of 11.2 % during the forecast period (from 2018 to 2025) due to extensive usage of GIS in urban planning and development. Development of smart cities by economies such as India and China is likely to spur segment growth in the forthcoming years. Vital information regarding accurate location of schools, farms, and storm drains, which can prevent possibility of poor construction can also bode well for the segment .

The transport and logistics segment is expected to display a healthy growth rate from 2018 to 2025 due to geospatial analysis in construction of roads. For instance, GIS developed by ESRI, a U.K.-based company, has been used in the Bay Area Rapid Transit (BART) to ensure safe passage for nearly 450,000 citizens. A smartphone application displays last-minute information regarding traffic speeds and travel options with the help of CCTV cameras and construction activity from the California Department of Transportation.

Market Outlook

The geographic information system (GIS) market is anticipated to reach a valuation of USD 11.2 billion by 2025, according to a report by Grand View Research, Inc. Growing scope of application of GIS in urban planning and infrastructure development can drive the market demand over the forecast period. Integration of technologies such as Light Detection and Ranging (LiDAR) and Cloud in GIS software is also likely to influence market expansion. Emergence of Internet of Things (IoT) devices and utilization of GIS to capture geospatial features of the planet can open new avenues for the market development. Key players include Hexagon AB; Pitney Bowes Inc.; Autodesk Inc.; and ESRI Holdings Limited.

In-Depth research report on geographic information system (GIS) market
https://www.grandviewresearch.com/industry-analysis/geographic-information-systems-market

Threat Intelligence: A Must-Have Defense Tool for Security Operations

Threat intelligence is organized and analyzed information regarding all possible or existing threats from external, as well as internal sources. The main purpose of integrating threat intelligence is to help companies know and understand the risks and to provide better protection against them. Almost all sectors—such as retails, BFSI, manufacturing, healthcare, and government—are using threat intelligence services due to rising cases of cyber attacks. Threat intelligence has two major deployment, namely, cloud-based and on-premise.

Cloud-based Deployment to Witness Fastest Growth

Cloud-based deployments segment is predicted to witness a considerable growth rate through 2025. Companies are shifting to cloud-based deployments from on-premise deployments since they are cost-effective. In addition, many companies find it difficult to manage on-premise solutions on account of budget constraints and other issues such as the lack of resources and expertise.

The adoption of public cloud has augmented resulting in an increased demand for cloud-based security solutions, which will boost the segment growth. The segment is likely to grow further on account of the rising adoption of cloud storage systems. Various regions such as Australia and Russia have passed stringent regulations regarding data storage on domestic cloud servers rather than using foreign ones.

Market Overview

Based on the findings of the latest report by Grand View Research, Inc.; the global threat intelligence market is predicted to reach at USD 12.6 billion by 2025. The market is anticipated to grow at a CAGR of 17.4% from 2017 to 2025 (forecast period). Increasing number of cyber crime cases and threat breaches are expected to be the key factors responsible for the escalated demand for threat intelligence services. In addition, growing number of sophisticated attacks in many leading security conscious sectors such as government; defense; and Banking, Financial services and Insurance (BFSI) is also likely to spur the market expansion. Some of the leading companies in the global market include Dell Inc.; IBM Corp.; Symantec Corp.; and Check Point Software Technologies Ltd.

Most market players try to gain the maximum market share through various strategies such as partnerships, collaborations, and global expansion. For example, Fortinet will be collaborating with Renesas Electronics Corp. on advanced cyber security to secure connected vehicles sector including telematics, infotainment systems, and powertrains.

In-depth research report on threat intelligence market:

https://www.grandviewresearch.com/industry-analysis/threat-intelligence-market

Chatbot market is expected to reach USD 1.25 billion by 2025

The global chatbot market is expected to reach USD 1.25 billion by 2025, growing at a CAGR of 24.3%, according to a new report by Grand View Research, Inc. The chatbot industry is expected to witness significant growth over the forecast period as they enable enterprises to substantially reduce operating costs. Additionally, innovations in artificial intelligence and machine learning technologies are likely to enhance the features of chatbots, which acts as a major driver for the market.

A significant rise has been observed in the number of users of messaging services, which is expected to surpass the number of users of social networking sites. Additionally, there has been a significant development in the NLP field, which has resulted in streamlined interactions between computers and human languages. The entire chatbot ecosystem comprises various cross-linking features, which facilitates enhanced performance of chatbots in all application. Most companies prefer in-built chatbots on their websites as they facilitate enterprises in providing instant customer interaction. For instance, Slack and Twitter messaging platforms are preferred by majority businesses.

North America is expected to emerge as the major region for the chatbot market over the forecast period. The growth in this region is mainly attributed to the increasing deployment of chatbots in various business verticals. Technologies such as artificial intelligence, IoT, and APIs, among others, are evolving at a rapid speed. Chatbots are integrated with these technologies to offer enhanced operations, thereby driving market demand. Artificial intelligence and audio speech-based chatbots are expected to account for the largest market share in future. Additionally, speech recognition has improved drastically, especially in terms of native languages, which is expected to result in enhanced performance of chatbots in various applications.

Further key findings from the report suggest:

• Chatbots find various applications in e-commerce, healthcare, and BFSI sectors. Large enterprise emerged as the largest end-user segment in 2016 and is estimated to register a CAGR of 24.2% over the forecast period.

• The bots for marketing segment is expected to witness the largest growth over the forecast period as these chatbots can connect the customers directly to service providers.

• The standalone segment is estimated to grow at a CAGR of 24.8% over the forecast period.

• The Asia Pacific market is projected to witness substantial growth over the next decade owing to various technological developments across major economies. The regional market is expected to grow at a CAGR of 24.7 % from 2017 to 2025.

• Key participants in the chatbot industry include Baidu, Poncho, Kik, WeChat, Varo Money Inc., Babylon Health, ReplyYes, and SRI International. Chatbots have found wide applications in large enterprises as they enable better understanding of consumer behavior with the help of machine learning.

Grand View Research has segmented the chatbot market based on end users, applications/business models, types, product landscape, verticals, and regions:

End User Outlook (Revenue, USD Million; 2014 - 2025)

• Small Enterprises

• Medium Enterprises

• Large Enterprises

Application/Business Model Outlook (Revenue, USD Million; 2014 - 2025)

• Bots for Service

• Bots for Social Media

• Bots for Payments/Order Processing

• Bots for Marketing

• Others

Type Outlook (Revenue, USD Million; 2014 - 2025)

• Standalone

• Web-based

• Messenger-based/Third Party

Product Landscape Outlook (Revenue, USD Million; 2014 - 2025)

• Artificial Intelligence

• Marketing

• Human Intelligence

Vertical Outlook (Revenue, USD Million; 2014 - 2025)

• Healthcare

• Retail
  
• Banking, Financial Services, and Insurance (BFSI)

• Media & Entertainment

• Travel & Tourism

• E-commerce

• Others

For more information visit our website: www.grandviewresearch.com

Digital Asset Management Improves Company Image

The business world has become competitive with internet leveling the field for startups and major corporations alike. Branded content is a buzzword that has garnered attention of companies interested in expanding their online presence. Since the internet is a vast repository of free content, a system is needed to protect company data. Such a system that protects the content as well as distributes it efficiently is referred to as Digital Asset Management (DAM) system.

This system engages the audience by providing content in the form of articles and videos. It also allows the easy transfer of files within an organization. It improves workflow and boosts employee productivity in the process. DAM can make it possible for companies to obtain an omnichannel presence across all platforms. This kind of experience will include collaborations with third parties and associated brand promotions.

Latest Developments

OpenText Corporation, a Canadian provider of enterprise management solutions, recently updated its Enterprise Information Management (EIM) platform. The recent update allows regular consumers to manage their workflow within the company with ease. It also allows the company to host their data on Cloud or within their office premises. 

The program within this platform, “OpenText Experience Suite”, has a host of applications such as “OpenText™ Media Management” and “OpenText™ Experience Analytics”. These programs provide deep insight into customer behavior and latest market trends. The company has even collaborated with SAP to create an omnichannel experience for its consumers.

Market Overview

The worldwide digital asset management market is expected to grow on account of DAM being used by organizations to improve their branding, according to Grand View Research, Inc. It is expected to reach USD 5.6 billion by 2025. DAM is expected to pave new growth avenues for organizations in order to expand their customer reach. 

Cloud deployment is expected to gain more market shares than on-premise deployment from 2014 to 2025 (forecast period). Even major corporations like Oracle have adopted Cloud due to its drag-and-drop functionality to transfer files easily. Media & entertainment was the biggest market end-user, accounting over 20% market shares in 2015. Some prominent industry players are Oracle Corporation, OpenText Corporation, and Adam Software NV.

In-depth report on digital asset management market by Grand View Research:

http://www.grandviewresearch.com/industry-analysis/digital-asset-management-market

Listen Closely to Your Customer With Speech Analytics

Speech analytics is a must-have in any company. It helps organizations understand customers’ ails and changing trends. Speech analytics is a process of analyzing the recorded calls of customers to improve communication, products, services, and processes. 

Are You Listening ?

NICE Systems Ltd., an Israel-based company, is a pioneer in business intelligence and customer experience analytics. The company acquired a U.S.-based interactive analytics software company, Nexidia, and introduced Nexidia Interaction Analytics.

Nexidia Interaction Analytics is adept in understanding and accessing customer information and providing relevant customer data, such as why is a customer contacting a company, what are the loopholes in a process, etc. This data can help improve operational efficiency and performance. This solution is an amalgamation of the best of the technologies for postcall evaluation as well as real-time speech analytics. It will help an organization analyze and categorize 100% of  voice communications.

The technology will convert the conversation into basic speech units and instantly identify a predefined list of words or independent words. This helps assess calls as they are taking place and triggers the next best step to guide the telephone operator.

The Speech-to-Text Transcription (STT) technology converts the audio exchanges into text for better data mining. This will help service providers reach the root of the problem and will also help in phonetics indexing. 

Nexidia Interaction Analytics technology will use talk-over analysis to provide better analysis of the conversation during simultaneous conversations. It will provide the end user with information such as who said what during the call. It will also gauge emotional status of a customer and highlight the frequent concerns voiced by them, to identify the trending customer satisfaction. 

Market Insight

According to a new report by Grand View Research, Inc., the speech analytics market is predicted to reach USD 1.64 billion by 2025. These analytics are vastly used by governments, healthcare, retail industry, telecommunications, Banking, Finance service, & Insurance (BFSI), and others. Growing usage of smartphones, tablets, and laptops can drive this technology.

Competitors:

Call Miners, Nice Systems, Verint Systems, and Avaya Incorporated are some of the leading competitors of the speech analytics market. They undergo strategic alliances to gain advantage over other competitors.

In-depth report on Speech Analytics Market by Grand View Research:

http://www.grandviewresearch.com/industry-analysis/speech-analytics-market