IT Professional Services
Market outlook of the global medical transcription IT spending
Technavio’s analyst predicts the global medical transcription IT spending market to grow steadily at a CAGR of around 6% during the forecast period. Currently, the healthcare industry is finding it difficult to manage the enormous amount of data it generates. It has become imperative for this industry to adopt digital tools like analytical tools, healthcare information management systems, and digital document management systems to keep a record of data related to patients. With the shift from paper-based information management to digital document management, the industry is not only able to save costs but also able to efficiently manage and record data with minimal errors.
Digitization helps in hassle-free storage, smooth transfer of data using cloud-based IT solutions that can be accessed from anywhere. It immensely improves the efficiency of physicians in treating their patients without while delivering errorless medical prescriptions. Also, it helps in keeping patient’s history confidential and secure. Its various advantages have found widespread adoption all over the globe and this trend will continue to boost the medical transcription sector in the upcoming four years.
End-user segmentation and analysis of the medical transcription IT spending
- Specialty clinics
Hospitals are the primary end-users of the global medical transcription IT market forming almost 70% of the market share. As per this forecast, many hospitals will continue to outsource for transcription as they do not have the right in-house equipment or workforce to maintain these records.
Geographical segmentation and analysis of the global medical transcription IT spending
Market overview of smart water management
Technavio’s research analyst predicts the global smart water management market to grow steadily at a CAGR of around 19% during the forecast period. The rising operating costs for water management is the primary driver for this market’s growth. An aging water infrastructure, the need to manage capital costs, increasing energy costs, expanding regulation, and tight financing are the major concerns for the water industry. Volatile energy costs are critical concerns prompting governments worldwide to implement smart water management solutions. For instance, in Germany, water treatment facilities alone accounted for more than 20% of the energy consumption during 2014.
The growing usage of automated meter reading technology is expected to positively impact the market growth during the forecast period. Most of the utilities work to manage their water resources for energy production by using actionable intelligence provided by automated meter reading technology. Automated meter data collection has helped companies to improve customer services be enabling them to manage high consumption periods. The use of such technologies also protects the utilities' revenues by mitigating issues such as non-usage periods.
Product segmentation of the smart water management market
The hardware segment dominated the market during 2015 with a market share of above 37%. Hardware consists of advanced metering infrastructure (AMI) that helps utilities streamline the billing process. The data gathered through AMI can be used to identify problematic areas within the system. Such early detections help in better managing production, distribution, and storage of water. Utilities can substantially decrease their non-revenue water by
Market overview of the EAI market
Technavio’s research analyst predicts the global enterprise application integration (EAI) market to grow steadily at a CAGR of around 11% during the forecast period. The need to improve business process efficiency is a key growth driver for this market. The use of multiple systems in a business environment has increased the complexities for sharing data or business rules and make business decisions. A lack of communication among the various systems leads to inefficiencies and can result in storing of identical data in multiple locations eating up space, or bring about problems in establishing automation. EAI involves linking applications within a single common system together to simplify business processes. Information can be shared on each level of the organization and helps avoid sweeping changes to the existing data structures.
The rapid adoption of cloud-based EAI is anticipated to boost the market growth in the coming years. Cloud-based EAI is an enterprise-class software that is easy to use and quick to implement. For instance, MuleSoft's iON is the first fully functional cloud application integration suite and follows the pricing model of SaaS.
Segmentation by deployment type and analysis of the EAI market
The on-premise segment dominated the market during 2015 with a market share of above 89% and is expected to retain its market leadership until the end of 2020. This is attributed to the high demand for integration platform as a service (IPaaS) due to its cost-efficient nature and availability of customized solutions.
Geographical segmentation and analysis of the EAI market
The Americas accounted
Market outlook of the outsourced software testing market
Technavio’s research analyst predicts the global outsourced software testing market to grow at a CAGR of 11% during the forecast period. The market growth is spurred by crowdsourcing testing services, which is gaining popularity. Crowdsourcing involves engaging a mix of testers from different locations to work on a single project. The concept has gained much popularity in the last three years, and it offers real-time feedback of the product development process, provides insights on product quality and allows to detect problems in the testing life cycle. It is more scalable and flexible than outsourcing the whole testing services.
However, outsourcing of software testing services comes along with different complexities such as quickly changing business requirements and cultural and time zone differences among regions. Vendors often face difficulties in estimating the exact business requirement of clients and finding a solution that would not require much re-defining. Most clients keep cost reduction as the primary parameter to outsource software testing services. Sometimes, service providers misunderstand the company’s set requirement for cost savings, which leads to repeat work and additional costs.
Geographical segmentation and analysis of the global outsourced software testing market
The Americas led the global outsourced software testing market during 2015. The region is a fast adopter of third-platform technologies. Emerging nations of Latin America have realized the potential benefits of Big Data technology and are increasingly adopting on-demand software testing services.
Competitive landscape and key vendors
Vendors in this space are looking
Market outlook of the global software defined storage market
Technavio’s market research analyst predicts the global software defined storage market to grow at a CAGR of 31% during the forecast period. The market is driven by an increased need to reduce storage cost and enhance flexibility. Many firms are adopting software-defined storage solutions to minimize issues such as vendor lock-in, especially for hardware procurements from their storage suppliers. These solutions make it easy to maintain and operate storage operations. Storage virtualizations provide flexibility to add or remove storage capacity and customize solutions as per client’s business requirements. Software-defined storage can also minimize backup problem as data recovery process is automatically retrieved.
However, data security and privacy concerns pose a challenge for the market growth. Unauthorized access or loss of sensitive data can defame an organization’s reputation. Enterprises are also heavily dependent on data centers to run applications, cloud-based services, and databases. Shifting from traditional data centers to software defined storage solutions is a tedious process, which is another challenge for the market.
Geographical segmentation and analysis of the global software defined storage market
During 2015, the Americas was the largest adopter of software defined storage solutions. The market in North America is growing rapidly with the majority of firms planning to adopt software-defined solutions in their data centers to enhance their business process and efficiency.
Competitive landscape and key vendors
The global software defined storage market is expected to grow significantly over the forecast
Market outlook of the field force automation market
Technavio’s research analyst predicts the global field force automation market to grow at a CAGR of close to 13% during the forecast period. Companies are constantly looking to enhance their overall efficiency and streamlining operations. This has boosted demand for integrating field force automation (FFA) solutions into their existing systems. FFA systems aid companies in collecting field sales and services information in real time using mobile devices. Also, the escalating need to cut operational costs among service organizations buoys the growth of this market.
Continuously evolving customer demand for superior services has encouraged companies to implement FFA solutions for field service management. These solutions help leverage company resources to satisfy customer needs effectively.
End-user segmentation and analysis of the global field force automation market
- Retail and construction
- Energy and utilities
In the retail sector, improving customer interaction and productivity is of prime importance. FFA solutions provide real-time access to manage warehouse inventory and settlements with customers. In the construction sector, the implementation of these solutions has smoothened the management of construction processes in a cost-effective manner. Thanks to these developments the retail and construction sectors are anticipated to post robust growth during the forecast period.
Geographical segmentation and analysis of the global field force automation market
Professional IT service providers are under constant pressure to deliver high-quality results, while being faced with numerous challenges. These include problems related to talent retention, global project management, business efficiency and service delivery improvement, and winning proposals.
Technavio has a team of analysts that specializes in IT professional services. Our reports provide IT thought leaders with market intelligence and insights on a broad range of IT engagement types, like governance, security, business intelligence, system integration, consulting, and enterprise resource planning (ERP) system implementation.
Our market analysis is focused on key trends, vendor buying criteria, evolving business landscapes, key IT investment areas, competitive landscapes, industry specific challenges, and market forecasts.