Global outlook of the data protection as a service (DPaaS) market
Technavio’s market research analysts predict the global data protection as a service (DPaaS) market to grow steadily during the next four years and post an impressive CAGR of almost 33% by 2020. This industry research report identifies the increased need for data backups and archiving to be one of the major factors that will have a positive impact on the growth of the data security services market in the coming years. The recent years have witnessed an exponential increase in data volumes all across the globe. Since the stored data assist enterprises in their decision-making processes, there will increase the demand for data backup and archiving facilities. This will induce organizations to shift their focus toward cloud-based storage services as they are more reliable and cost effective, in turn, fueling the growth of the data protection as a service market.
One of the major trends that will gain traction in the data protection services market is the virtualization of storage devices and servers. Virtualization of storage devices will allow organizations to perform at high capability while deploying only few resources. This eliminates the need for additional hardware for disaster recovery services and also reduces the utilization of space. Server virtualization helps enterprises reduce their operational costs and also improves the time to recovery. Furthermore, DPaaS also provides automatic data backup and also helps in the creation and sharing of business documents and increasing the operational efficiency and
Overview of the global event management as a service market
Market research analysts at Technavio predict that the global event management as a service market will grow steadily during the next four years and will post a CAGR of more than 13% by 2020. According to this market research analysis, the growing need for low total cost of ownership will be one of the primary factors contributing to the growth of this market. The total cost of ownership comprises the upfront costs for software implementation and software licensing and also includes high maintenance expenses. The traditional on-site software requires a large amount of investment for the creation of connections in the IT infrastructure and partner systems, to achieve an integrated flow of information. Whereas, in the case of cloud based event management systems, the vendors are responsible for maintenance, software backup, implementation, and updates, which reduces the need for internal IT administration. Moreover, the service also eliminates the need to incur connection-related expenditures and is also based on the pay-per-use model, where customers pay only for the services they use.
This market research and analysis predicts that in terms of geographical regions, the Americas will dominate the market throughout the forecast period. The region was the early adopter of event management as a service and the expected increase in the adoption of cloud-based event management services by enterprises and government organizations will fuel the growth of the market in the Americas in the next few years.
Competitive landscape and key vendors
Due to the presence of a number of small event organization companies, this market appears to be highly fragmented. Since all vendors are trying to sustain themselves by improving delivery models with technology, the competitive environment in the
Global outlook of the CFD market
Technavio’s market research analysts have predicted that the global computational fluid dynamics (CFD) market will grow steadily at a CAGR of more than 9% by 2020. The product development cycle involves four main stages such as planning, designing, realization, and service. Industries are constantly in the need to reduce their product development time, and this industry research report identifies this need to reduce the product development cycle time and cost to be one of the major factors that will have a positive impact on the growth of this market in the coming years. CFD is mainly used in the designing stage and helps in the simulation and optimization processes that are carried out using computer-aided engineering (CAE) software. Since the designing stage requires huge investments in terms of time and money, the use of CFD solutions can help in reducing the same and will soon find significance in several end-user segments especially in the aerospace and defense sector.
Increasing CO2 emission levels have led to the introduction of stringent emission standards by governments from all over the globe, and has also compelled the automotive industry to include electric/hybrid vehicles in their product portfolio. Due to the focus on product pricing reduction and increasing efficiency and performance, the industry will start using CFD software for analyzing the temperature in battery modules as the proper maintenance of battery temperature will increase battery life and performance. CFD can be used for designing air-
Overview of the CAD market in APAC
Market research analysts at Technavio have predicted that the computer aided designing (CAD) market in APAC will grow impressively during the predicted period and will post a revenue of more than USD 3 billion by 2020. The increase in rapid prototyping and tooling in the automobile, aerospace, and manufacturing industries in India in the recent years, resulted in the high demand for CAD. Product visualization comes as one of the major aspects of developing products with high quality and accurate specifications. Automobile companies such as Maruti Suzuki, Mahindra & Mahindra, and Ashok Leyland use CAD for designing and developing their products. The National Automotive Testing and R&D Infrastructure Project started by few state governments and automobile manufacturers aims to increase the infrastructure in India for testing, validation, and R&D of new and innovative automobiles and their components. This will induce more end-users to adopt CAD solutions, which will propel the growth of the market during the forecast period.
Due to the high ROI on subscription models, CAD vendors will start reducing the sale of perpetual CAD licenses. Moreover, the subscription model is simple to use and provides a much better user experience for the customers than the perpetual model, and also allows vendors to provide software updates at any time. As a result, the market will witness a gradual shift toward periodic CAD subscription/licenses, which will be one of the major trends gaining traction in the market in the next four years.
Competitive landscape and key vendors
The market is marked by the presence of a several large- and small-scale vendors and is dominated by major CAD vendors such as
Overview of the human capital management (HCM) software market in Germany
Market research analysts at Technavio have predicted that the HCM software market in Germany will grow steadily at a CAGR of more than 5% by 2020. This market research analysis identifies the increasing demand for a unified solution for all HR functions as one of the primary growth factors for the human capital management software market. Designed primarily for compliance, software such as payroll software, applicant tracking software, and talent management software are rigid and hard to use and only make the recruiting process more complex to manage. As a result, managers usually use spreadsheets to make up for system shortcomings. Whereas, HCM software integrates, automates, and streamlines all processes, helps organizations to plan their future staffing needs, and also shares the information with other enterprise software such as enterprise resource planning (ERP). The software facilities the HR to partner with the recruitment team to locate and recruit the very best talent for their businesses using only a single system. As a result, there will a substantial increase in the demand for this HR software from several enterprises, subsequently augmenting the market’s growth prospects.
The adoption of advanced workforce analytics will be one of the major trends to gain traction in this market in the coming years. Workforce analytics is simply a set of analysis tools that integrate software and guiding metrics to perform statistical models on worker-related data and provide comprehensive workforce performance measurement. Workforce analytics predicts the probability of an employee's success, helps organizations in identifying the necessity for a new department or position, enhances the enterprise's organizational structure, and also helps the organization to recognize, inspire, and
Overview of the global ePedigree software market
Market research analysts at Technavio have predicted that the global ePedigree software market will grow impressively during the predicted period and will post a revenue of almost USD 4 billion by 2020. The rapidly increasing number of counterfeit products in the market will increase the demand for pharmaceutical serialization which will be one of the primary growth factors for this market. Product serialization identifies every product by a unique serial number, shelf life, and batch number and helps in monitoring the lifecycle of the drug right from the production stages to delivery. The serialization process is difficult to implement in the manufacturing process and requires a comprehensive system that can keep track of all drugs through the entire supply chain. Several organizations and pharmaceutical manufacturers have already started focusing on developing methods to track efficiently and trace prescription drugs. Since ePedigree is an electronic document where the data is already available for fetching, the coming years will witness an increasing demand for ePedigree software, especially from the pharmaceutical industry.
Radio frequency identification (RFID) system utilizes radio waves for collecting data from a tag attached to a product and can be used in tracking objects and in automatic identification. They provide real-time information about the status of goods to customers and manufacturers and also help in reducing the cost of operations by reducing the delivery time and defects. As a result, there will be an increasing adoption of RFID systems for ePedigree solutions, which will not only help in tracking products but also to analyze buying trends and patterns. This, in turn, will help
Almost every organization today depends on the real-time availability of data. There are numerous software packages available for both enterprise and home use that address this need.
Because there are many companies with operations spread across the globe, there is a need for a system that ensures all organizational processes are carried out on a common platform. Enterprise computing applications ensure that organizations are able to realize these goals.