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ICT
Overview of the global cloud electronic design automation (EDA) market
Market research analysts at Technavio have predicted that the global cloud electronic design automation (EDA) market will grow steadily during the forecast period and will post a CAGR of almost 7% by 2020. The adoption of EDA leads to a reduction in the design time, errors, and cost and is mainly used in the manufacture of aerospace and defense equipment. For instance, Bell Helicopter adopted Mentor Graphics Capital product family to streamline the wiring design process for their Bell 525 Relentless program. The company used Capital Suite, an advanced electrical system, and wire harness design software suite to reduce the time taken in electrical system integration by eliminating prototypes. Capital Logic, Capital Integrator, and Capital AutoView software are few other software adopted by the company to streamline and improve the relentless electrical system design process subsequently, providing a faster time to market. The reduction in design time is one of the major advantages that EDA offers and will be one of the primary factors fueling the growth of the cloud EDA market.
The requirement of a huge capital investment by customers is one of the primary barriers affecting the growth of the cloud EDA market. As a result, the coming years will witness the shift from a perpetual model to a subscription-based licensing model. A subscription license model will help vendors offer their users features to create a mix of desired EDA tools and also provide upgrades and maintenance facilities. Moreover, a subscription model will considerably reduce the total cost of operation enabling several large companies and small and medium-sized enterprises to have easy access to EDA tools.
Competitive landscape and key
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 iris recognition in access control market
Market research analysts at Technavio predict that the global iris recognition in access control market will grow steadily during the forecast period and post an impressive CAGR of about 18% by 2020. This market research analysis identifies the rise in adoption of cloud-based biometrics as one of the primary growth factors for the iris identification in access control market. Cloud-based biometric technology utilizes cloud services through a web-based user interface and is available to the end-users on-demand. The pricing of cloud-based biometrics is based on a pay-per-use model, which makes it affordable by small and mid-size organizations as well. Moreover, pairing mobile biometric technology with cloud biometrics speeds up the identification process and will enable law enforcement officials to identify criminals by comparing their biometric data against data stored in the cloud, preventing unnecessary visits to the police station.
Multimodal biometrics ensures secure authentication by identifying an individual with a combination of two or more biometrics technologies. The introduction of iris recognition into multimodal biometrics will be one of the major trends that will gain traction in this market in the next four years. Multimodal biometrics using iris recognition combined with fingerprint or facial identification are already being used
Overview of the global mobile satellite services market
Market research analysts at Technavio predict that the global mobile satellite services market will grow steadily and post a CAGR of almost 8% by 2020. The increasing demand for satellite communication during emergency situations will be one of the primary factors contributing to the growth of the market. NGOs and humanitarian organizations across the globe depend on mobile satellite services (MSS) for its robustness and expansive coverage as this technology facilitates a timely and efficient response. Furthermore, since these terminals can be effortlessly deployed anywhere, it will provide global coverage and an active communication channel to end-users to help in relief operations during natural disasters and emergency situations. As a result, many vendors have started collaborating with each other to deliver preferential airtime rates and technical training support to enhance satellite service.
During 2015, the Americas dominated the market by accounting for approximately 40% of the total market share. Increasing awareness and the growing preference for satellite technologies across the government and aeronautical sectors will result in the strong growth of the market in the Americas. Additionally, the ability of satellite communication to help in storm and hurricane disaster management, volcano monitoring, vegetation identification, and historical monument inspection will also lead to its increased demand during the estimated period. Furthermore, the participation of Latin American countries, such as Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Venezuela, in the development in satellite technologies will also help in the evolution of the market.
Overview of the VSAT market
Extensive research carried out by the analysts at Technavio has shown that the global very small aperture terminal (VSAT) market is expected to witness fast-paced growth and will post an impressive CAGR of more than 9% over the forecast period. The increasing demand for technologically advanced satellite imagery is one of the primary factors driving this market’s growth. High-resolution digital satellite aerial imagery is becoming increasing popular among city planners, developers, and engineers as the information from derived from these images along with GIS mapping is used for analysis, strategic planning, and evaluation in engineering and urban planning. Moreover, images provided by satellite offer valuable data and information, which are used by government organizations across different sectors including defence, oil and natural gas, mining, meteorology, and agriculture. Furthermore, with advancements in technology and introduction of image-enhancing equipment and remote-sensing technology, the quality of satellite-based EO images has significantly enhanced, leading to their increased adoption.
One of the recent trends spurring this market’s growth prospects is the increasing use of satellite services for cross-vertical applications like telemedicine. With the growing demand for healthcare facilities and advancements in technology, telemedicine is gaining significant
Overview of the global smart city market
Market research analysts at Technavio predict that the global smart city market will grow steadily and post a CAGR of almost 20% by 2020. Increasing installation of smart meters will be one of the key factors attributing to the growth of the global smart city market during the forecast period. Smart meters can be integrated with an in-home display (IHD) to provide instantaneous information on gas and electricity usage in a household. It will help the consumers to monitor and control all energy devices through energy management systems (EMS) and provide a range of interactive and intelligent solutions. Technological advancements will enable smart meters to amalgamate with smart grids, which will help in energy management, reduce operational costs, and provide energy efficient solutions. Furthermore, the implementation of smart meters will permit smart homes to use cutting-edge technologies like programmable thermostats, occupation detectors and motion sensors, solar-powered products, and zone-based thermostats to conserve energy and promote a reduction in the carbon footprint. The implementation of such energy-efficient systems will help in environmental sustainability and result in the positive growth of the smart city market over the predicted period.
One of the recent trends observed in the market is the presence of strategic alliances between telecommunications operators, hardware and software providers, and analytics software providers.
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The subindustries within the ICT market all work toward the common goal of efficient data use. For instance, the enterprise computing domain analyzes the market dynamics of the software industry for both enterprise- and home-based users, while the IT services domain focuses on the end-to-end IT services market for enterprises.
With these services playing a vital role in assimilating and processing data, IT security is a major concern for any company in this market. Security threats can affect a company’s entire IT infrastructure, so the protection of data assets is of utmost importance. Today, the vast majority of businesses depend on advancements in the ICT market, whether they occur within ICT security or in enterprise computing. In such an environment, it is imperative for business leaders to understand how the ICT sub-segments can help their businesses grow and stay ahead of the curve.
Technavio’s ICT reports provide actionable information on market dynamics that are shaping the industry and the ways in which giants like Amazon Web Services, IBM, and Oracle are influencing markets in the ICT domain. Our reports provide insights on the following market, including enterprise application; IT hardware; IT security; automatic identification system; IT professional services; BPO and ITO; cloud computing; product lifecycle management; data center; M2M and connected devices; IT spending by industry and region.
