Overview of the global finite element analysis (FEA) market
Market research analysts at Technavio have predicted that the global FEA market will grow steadily at a CAGR of more than 13% by 2020. This market research analysis identifies the need for improved efficiency as one of the primary growth factors for this market. Since integrated software solutions substantially reduce the product development cycle time and increase efficiencies, there is an increasing demand for such software from end-users. It also enables engineers and stakeholders to participate in product development and improve the collective product design. Additionally, integrated software also improves the design optimization of complex and innovative products and facilitates faster marketing as it eliminates the need for multiple prototypes and product recall concerns. Since finite element analysis software can be integrated with several design and simulation software such as CAD, CAM, and CAE, there will be a considerable increase in their demand in the coming years.
Complexities in mesh generation during the pre-processing phase of FEA analysis is one of the existing challenges faced by companies. Designers have the need to develop a fine mesh that would help in the mathematical analysis. It also helps in understanding the real-time behavior of the material when subjected to specific stress and loads. FEA pre-processing costs approximately 43% of the overall investment and the availability of low-cost skilled workforce in APAC will induce customers to outsource their FEA pre-processing requirements to this region in the next few years.
Competitive landscape and key vendors
This global market appears to be fragmented due to the presence of several
Overview of the global identity and access management (IAM) market
Technavio’s market research analyst predicts the global identity and access management (IAM) market to grow at a CAGR of around 13% between 2016 and 2020. IAM is the major contributor for the implementation of B2C and B2E applications, which will improve user experience and operational efficiencies. IAM solutions eliminate the misuse of data in organizations, which is one of the most crucial factors responsible for its widespread adoption by large- and medium-sized enterprises, as well as government organizations. IAM supports the growth of companies and helps them gain a competitive edge by addressing their security requirements, streamlining business processes, and improving operational efficiencies. IAM solutions can help small and medium enterprises (SMEs) as they offer a high level of security to critical business information, which has increased the adoption of secure SaaS IAM solutions by SMEs. With the growing demand for the seamless integration of IAM solutions with other security solutions, the overall IAM market will witness huge growth in the coming years.
The Americas represents the largest market for IAM solutions, and occupied around 43% of with total market revenue in 2015. Much of the region’s growth comes from the US, which is the largest contributor to the market. The market in this region will grow significantly during the forecast period because of the availability of adequate infrastructure, the presence of several global financial institutions and large companies, stringent government regulations, high frequency of cyber attacks, and greater investments in technology among organizations in this region.
Competitive landscape and key vendors
Overview of the global private and public cloud market in the financial services industry
Technavio’s market research analyst predicts the global private and public cloud market in the financial services industry to grow at a CAGR of around 13% during the forecast period. Financial firms are increasingly implementing cloud solutions for business analytics, CRM, portfolio management, providing decision-making support, and investment applications. These solutions help financial services firms to manage and analyze large volumes of data and stores it for future use. They also help develop long-term business plans and strategies, which has, in turn, accelerated the adoption of cloud services among global financial services such as De Nederlandsche Bank, Bankinter, and HSBC. Shifting documents and data into the cloud saves on the cost of hardware equipment and makes the workspace environment-friendly by reducing the use of hard copies, files, paper, and ink. With the growing focus on cost optimization and scaling computation among financial services firms, the market is anticipated to witness massive growth over the predicted period.
One of the latest trends gaining prominence in this market is the development of OpenStack, which is an open-source cloud-based computing technology. It includes a set of software tools that help manage and build cloud-computing platforms in the cloud. OpenStack is considered the future of cloud computing. Some major vendors reinforcing the technology include Cisco Systems, Rackspace, Dell, HPE, IBM, Oracle, Red Hat, and VMware. The adoption rate of OpenStack is high in the major financial enterprises, especially for core banking platforms. For instance, TD Bank has implemented
Outlook of the global data quality tools market
The market research analyst at Technavio predicts that the global data quality tools market will grow progressively and post an impressive CAGR of more than 14% by 2020. The increasing demand for data quality functions in big data is one of the significant factors driving market growth. The development of technologies like cloud computing, the Internet of Things, and social networking will increase the speed of data accumulations and application of big data services. By rapidly acquiring and analyzing of big data from various sources, researchers and decision-makers have realized that this massive amount of information has insights for better understanding of customer needs, improving the quality of service, and predicting and preventing risks. This will, in turn, lead to the adoption of data quality tools for the management of big data over the next four years.
During 2015, the market was dominated by the Americas, which accounted for approximately 43% of the total market shares. The improving enterprise-wide financial performance visibility providing perceptibility of the financial yield of their business, from the perspective of both the enterprise and business users, will lead to a rise in the adoption of data quality tools. Furthermore, the use of quality data to improve business decisions and fulfill business goals will help enterprises gain a competitive advantage in the market. BFSI and retail segments in America will have the highest adoption rate for data quality tools.
Competitive landscape and key vendors
The vendor landscape of
Overview of the workspace delivery network market
According to the market research analysts at Technavio, the global workspace delivery network market is expected to grow tremendously and will post an impressive CAGR of more than 18% over the forecast period. The increasing virtualization in enterprises is one of the most important factors driving the growth of this market in the coming years. Virtualization not only maximizes the capabilities of a PC or server but also reduces the IT infrastructure hardware and management costs to a great extent. Because of their ability to manage higher workloads, there is the need for an intermediary device between the end-user system and computing device to manage the allocation and execution of the applications. The workspace delivery network replicates itself to handle the multiple virtualized server workloads and facilitates the data access and storage process from the desired locations, thereby increasing the efficiency of the entire network infrastructure. With accelerated and seamless access to the enterprise content and applications, there is a higher end-user satisfaction and a considerable reduction in server overheads. All requests and protocols are addressed at the workspace delivery network, which executes every instruction with minimum execution time.
Workspace delivery network has several advantages including efficient utilization of bandwidth, which is expected to propel this market’s growth prospects in the coming years. Bandwidth utilization efficiency or channel efficiency is the throughput achieved in a communication channel and is measured in bits per second. If a throughput is 70 megabits per second in a 100-megabits-per-second connection, the channel efficiency is considered to be 70%. If the majority of the static content on company websites functions through workspace delivery controllers
Global outlook of the cloud collaboration market
According to Technavio’s market research analysis, the global cloud collaboration market is anticipated to grow at a CAGR of around 11% between 2016 and 2020. Cloud collaboration helps enterprises improve their quality and enhance the efficiency of service while reducing costs in the long term. It makes business information systems more flexible, enhances productivity, and facilitates access to information. In addition, it minimizes the organization's most complex data integration and information exchange issues. Cloud collaboration offers a communication system that is cost effective in information sharing and communication, allowing the real-time exchange of data and information. It provides a reliable unified user interface and user experience across multiple devices and media types. It also aids enterprises to connect with new customers, resolve operation conflicts, and also connect with an employee in a faster and better way than the traditional communication infrastructure. With the rising adoption of BYOD policies and the increased use of smartphones and tablets, the market for cloud collaboration will witness impressive growth over the next four years.
APAC will be the fastest-growing region in the cloud collaboration market during the forecast period and is anticipated to grow at a CAGR of more than 16%. Much of the region’s growth can be attributed to the increasing globalization of small and medium enterprises (SMEs) in countries like China, India, and Japan. The ventures of various foreign organizations and the growing
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.