IT Professional Services
Global outlook for the engineering services outsourcing market
Technavio’s market research analysts predict the global engineering services outsourcing market to grow steadily during the predicted period and post an impressive CAGR of almost 26% by 2020. This industry research report identifies benefits such as reduced time to market to be one of the major factors that will have a positive impact on the growth of this market in the coming years. By introducing products faster than competitors, enterprises can gain huge benefits in terms of pricing and brand recognition. This will induce organizations to outsource their engineering requirements to reduce the product development time and accelerate time to market. For instance, due to budget constraints and the availability of limited workforce, software development firms often find it difficult to reduce the time required to develop products. This will induce them to outsource the process to product engineering solutions providers who can handle the complex designing and product development processes.
This market research and analysis estimates that in terms of geographical regions, the Americas was the major revenue contributor to the market during 2015. Analysts estimate that the telecom sector was the major end-user segment in this region where major players in the telecom sector outsources various services including design and implementation, support of geographic information systems (GIS), network provisioning, network testing, cloud engineering services, value-added services, and product lifecycle management.
Global outlook of the mobile application development platform market
Technavio’s market research analysts have predicted that the global mobile application development platform market will grow steadily during the predicted period and will post an impressive CAGR of more than 27% by 2020. This industry research report identifies the need to automate application development process to be one of the major factors that will have a positive impact on the growth of the mobile app development platform market in the coming years. Mobile application development platforms reduce the complexities associated with developing and designing mobile and web applications. IT solutions such as backend-as-a-service (MBaaS) eliminate the need for application developers to create their back-end systems. This reduces the application development time, improves front-end tasks, and also enhances the UI design for a better user experience. MBaaS ensures better user engagement, offers cloud-based storage, and user account management. Since mobile applications require extensive programming to maintain seamless communications between clients and servers, the need to automate application development processes will increase in the coming years, in turn, fueling the growth of the market for mobile app development platforms.
In terms of geographical regions, the Americas accounted for more than 53% of the total market shares and dominated the industry during 2015. This region is the major adopter of mobile technology and enterprise applications and has several organizations in the BFSI, telecom, e-commerce, and healthcare industries that are
Overview of the global PPM and IT governance market
Market research analysts at Technavio have predicted that the global PPM and IT governance market will grow steadily at a CAGR of more than 11% by 2020. This market research analysis identifies the need to optimize project management process as one of the primary growth factors for this market. Enterprises across the globe are constantly working to improve their overall efficiency through capacity optimization, reduction in operational costs, and driving profits using IT infrastructure. PPM and analytics software helps in enhancing an organization’s processes by improving quality and resource control, which in turn, results in improving the overall productivity and efficiency of the enterprise. Project portfolio management software also helps organizations meet their business demands rapidly and remain competitive in the market, which will compel several organizations to deploy PPM software at their facilities in the coming years.
Information management comes as one of the key aspects of project management and managers often have to collect and analyze a lot of information regarding ongoing projects. Virtual reality solutions such as augmented reality can be used in project management systems. Augmented reality technologies are currently employed in construction-related projects to view projects status in a real-time environment. They can provide real-time information in the form of text and 3D or 4D images and can also be used for information management of a portfolio of various projects.
Competitive landscape and key vendors
Characterized by the presence of a wide range of PPM vendors, the
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
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.