Contact center software market to accumulate substantial gains from retail applications, global industry to witness a double-digit CAGR over 2018-2024
Owing to the increased focus on customer service and digitization of processes across numerous industry sectors, the contact center software market registered revenue worth USD 14 billion in 2017, driven by the demand for efficient customer handling solutions. Massive investments have been made by companies to upgrade contact centers to more productive and cost-effective software-based facilities for coordinating services among different channels. This has eventually allowed many emerging technology companies to tap into the services sector. Increasing adoption of online services by BFSI, telecom and hospitality consumers has transformed the contact center software industry with the need for ensuring quick and accurate responses.
Europe Contact Center Software Market Share, By Software, 2017
Rising consumer spending on electronics, clothing and other product categories has tremendously bolstered the retail segment worldwide, propelling the contact center software market revenue globally. Reports show that consumers rate customer service in retail sector higher than low prices and product quality, making it the most important part of the businesses retailers should be focusing on. Good customer service leads to more recommendation from consumers, which directly boosts product sales. Subsequently, retail is an ideal application base for the contact center software market, helping companies provide timely and dedicated service for taking care of any problems the customers communicate.
Major retail brands have employed contact centers to handle hundreds to thousands of queries, frequently asked questions and complaints they receive throughout their worldwide businesses. As these centers start to provide services like billing and telemarketing in addition to customer service, the contact center software industry will experience challenges from coping with enormous amounts for customer requests and data analysis. The advent of ecommerce retail has further given a remarkable boost to digital services, connecting more consumers with businesses and creating a demand for higher number of customer contact executives.
In 2017, the global ecommerce retail sales amounted to about USD 2.3 trillion, out of which world’s top three e-retailers contributed nearly USD 100 billion. This includes Amazon.com, which operates 13 country-specific websites and services at least 16 countries in all, including the U.S., U.K., India, Germany, Spain, France, among others. The vast ecommerce operations of Amazon indicate the probability of customer service requests from millions of people from diverse cultures, as it sells thousands of products in each country every day. Various other local and international e-retail platforms face similar concerns, offering outstanding growth prospects for the contact center software market from hundreds of online businesses.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2972
According to statistics, there were approx. 1.66 billion digital buyers around the world in 2016, representing the extensive customer service difficulties and opportunities e-retailers have to deal with. These businesses have to cater to several requests via tele calling, email, mobile text messages as well as social media, since it is impossible for all customers to communicate with them on the same platform. Receiving requests, identifying problem areas and providing solutions to consumers across these distinct channels has defined the contact center software industry’s evolution over the years, further intensified by the growing utilization of online payment options.
Over the years, technological advances have enabled wider implementation of virtual assistants and interactive voice features by retailers, allowing software makers to provide innovative solutions. The contact center software market has further benefited from the growing awareness among retailers about the role of analytics and reporting in guaranteeing improved customer experience. Managing customer-employee interaction, behavior, customer requirements have critical impact on business revenues. Speaking further on the analytics and reporting component of the contact center software industry, retailers can reduce potential loss of sales and negative consumer responses by analyzing how they are being serviced.
As the time taken to handle a request, origin of the request, behavior on the call and other factors are recorded by the software, companies can use the information to train their staff better. The success or failure of email and telemarketing campaigns can also be analyzed to enhance or modify their processes, as consumer trend is key for retailers to achieve profits. Essentially the retail segment, with expanding popularity of ecommerce, is expected to contribute significant revenues towards the global contact center software market. Global Market Insights, Inc., forecasts the overall contact center software industry to surpass a valuation of USD 40 billion by 2024.
Author Name :Pankaj Singh
Unveiling mobile mapping market trends in terms of the strategies undertaken by competent industry players: escalating development of software-assisted solutions to stimulate product demand
The increasing importance for geospatial technologies for visualizing and analyzing geospatial data has stimulated mobile mapping industry trends. The advent of new technologies such as Lidar, AI, and IoT has also significantly transformed mobile mapping technology over the last few years. With more innovations across this technology, it has become easier and effective to carry various tedious projects like urban development, rail-road creation, and power plant construction across inaccessible areas. Thus, the increasing use of this technology to survey numerous mobile platforms is poised to propel mobile mapping industry share.
U.S. Mobile Mapping Market Revenue, By Component
The involvement of companies in novel product development activities for high efficiency and productivity will have a notable impact on the business over the years ahead. In the last few years, companies have come up with a diverse set of products that can deliver remarkable benefits to users and asset owners. Validating the aforementioned fact, in February 2018, the California based software development company, Trimble developed a next-generation mobile mapping system, which has been designed with multi-camera imaging, mobile lidar system, and field software. This newly launched Trimble MX-9 mobile mapping technology has the capability to capture 360-degree immersive geo-referenced imagery with the help of already installed laser scanning sensors, GNSS technology, and spherical camera. The improved accessibility of such newly developed mobile mapping devices via smartphones and tablets will augment the growth of mobile mapping market.
Speaking more about the recent advancements, it is prudent to mention that 3D mobile mapping is also one of the latest developments in geospatial technologies that helps users to record, measure, visualize, and understand environments. The advent of 3D mobile mapping has overcome the limitations of conventional mobile mapping systems and helps to carry out a detailed visualization of climatic conditions. In 2018, a German company which develops software and hardware to navigate, map, and digitize the indoors, NavVis made it to the headlines for generating a fully integrated product for indoor mapping aided with six cameras. NavVis has developed this product in accordance with customers’ request to have sophisticated and more versatile systems. This product is likely to prove beneficial for the end-users like construction product manufacturers, construction companies, and AEC (architecture-engineering-construction) professionals to generate high-quality data owing to its capability to capture immersive imagery.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2652
The increasing importance for geospatial technologies has also been encouraging the players in the mobile mapping market to carry out vigorous research and development activities for capturing more business space. For instance, the Italy based SITECO Infomatia SRL has been proactive in developing varieties of products from road-scanners to pave-scanners. In 2018, it has launched software assisted mobile mapping devices. The integration of software and LiDAR system has helped the company to enhance the performance of mobile mapping platform. The widespread availability of multi-scanners and high-performance mobile mapping platforms is slated to propel the industry growth over the years ahead.
In addition to higher performance, cost-effectiveness is also one of the major factors promoting mobile mapping market size. As of now, Google is one of the leading contributors of navigation applications, but due to rise in subscription amounts for accessing its Google Maps, other contributors in mobile mapping market have been able to race ahead with the launch of low-cost navigation features. For instance, a few days before, a digital mapping company, TomTom has started offering free software development kits to Android and iOS users to access maps and traffic information for free. Such initiatives will help IoT companies and autonomous vehicle manufacturers to load the traffic and routing data free of cost.
The advancement in consumer electronics and shifting trends toward the deployment of autonomous vehicles for the betterment of the environment will have a positive influence on the mobile mapping industry share. As of now, most of the automotive companies have been involved in the development of highly modernized infotainment systems for improving the driving experience that is likely to enhance the product demand. In accordance with the expanding end-use sectors, the strategies adopted by the key player will help them to strengthen their business position over the years ahead. Reportedly, driven by new product launches, mobile mapping market will generate a revenue more than USD 40 billion by the end of 2024.
Author Name : Sunil Hebbalkar
On-board diagnostics (OBD) aftermarket to be driven by a stringent regulatory landscape, global industry to chronicle itself in the billion-dollar business sphere by 2024
Powered by a strict regulatory frame of reference formulated to control vehicular emissions, on-board diagnostics (OBD) aftermarket has emerged as a highly lucrative business sphere over the last few years. Lately, many regulatory bodies have established emission control facility centers to resolve the issues related to the effective working of OBD. In the U.S. specifically, the National Center for Automotive Science & Technology has established the National OBD Clearinghouse for facilitating the understanding of the on-board diagnostics technology, for which U.S. Environmental Protection Agency (EPA) has even provided a grant. In order to comply with the Clean Air Act, EPA has been encouraging people to conduct vehicle maintenance and inspection that will ultimately control the vehicle emission. As of now, a majority of vehicles are incorporated with the OBD technology for meeting the national air quality standards.
Europe On-board Diagnostics (OBD) Aftermarket Share, By Application, 2017
The OBD system is one of the integral parts of the electronic control unit (ECU) and is used for diagnosing and repairing vehicle subsystems and rectifying the malfunctions associated with the systems. The integrity of the emission control unit is maintained with the help of external tools that re-flash and re-configure the vehicle emission parameters. The increasing use of external vehicle diagnostic tools to maintain the shelf life of the vehicle is slated to propel on-board diagnostics (OBD) aftermarket considerably.
Taking into account the strict regulatory norms formulated to curb and monitor vehicle emissions, many diagnostic equipment providers are currently developing new OBD tool facility centers to check problems associated with the engine. For instance, in 2017, the leading suppliers of test equipment and diagnostic reporting for the automotive aftermarket, Innova Electronics Corp launched a modern on-board diagnostic tool line which is totally featured with its newly invented products that will be helpful for excellent diagnostic reporting.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2839
The advent of a new range of technologies including cloud computing, Internet of Things (IoT), and smartphones have also had a remarkable influence on the on-board diagnostics aftermarket. In line with the recent product launches, many on-board diagnostics (OBD) aftermarket contenders have been developing new product portfolios comprising the modern technology aids. It has become very easy now for the vehicle owners to calibrate their vehicles’ emission control unit. Recently, one of the leading players in on-board diagnostics aftermarket, Verizon has launched a next-generation aftermarket vehicle diagnostic service device that works just by plugging into vehicle’s OBD computer port. As soon as it does, it connects to the OBD system of the vehicle and notifies the driver about any maintenance issue. In addition, Verizon has incorporated a smartphone software application as well as GPS technology that will help to resolve the mechanical issues in case of an emergency.
Though the government has mandated the deployment of vehicle health monitoring facilities, many vehicle owners are disabling and tampering on-board diagnostics and pollution control systems. They have also been tampering with laboratory test results and are bypassing emissions around monitoring devices. In U.S., the criminal office of the Environmental Protection Agency (EPA) and the Department of Justice (DOJ) in fact, had sued the employees of Rockwater Northeast LLC which provides operational services across oil and gas sector. The employees of this hydraulic fracturing firm had modified the OBD system and emission control unit of the company’s heavy-duty diesel trucks. This strict stand taken by the regulatory bodies for the infringement of Clean Air act has depicted the significance regulations have on the North America on-board diagnostics aftermarket industry growth.
The significant benefits associated with the deployment of on-board diagnostics system to improve air quality through vehicle maintenance and inspection is slated to fuel the product demand across the globe. The installation of vehicle health inspection systems ultimately helps the owners to maintain the vehicle before it violates the air quality standard set by the government. In this regard, many vehicle owners have been implementing OBD systems to monitor and maintain their vehicles which will favorably stimulate on-board diagnostics aftermarket industry size over the years ahead. For the record, driven by a strict regulatory frame of reference, the overall on-board diagnostics (OBD) aftermarket will surpass revenue collection of USD 1.5 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Network automation market to record a staggering CAGR of 22% over 2018-2024, global industry expansion to be characterized by technological advancements and startup acquisitions
Disrupting the conventional ways of building digital infrastructure, the network automation market has emerged as one of the most enterprising niche verticals of the sustainable and smart industry. Prominent tech giants and multinational corporations around the globe have increasingly focused on implementing new methodologies to reduce manual configuration errors which are believed to cause the majority of network outages.
China Network Automation Market Share, By Application, 2017
In this context, network automation has evolved into one of the crucial technologies that have enabled businesses to decrease manual configuration errors and risk through effective compliance reporting, improved network service availability, enhanced performance and staff efficiency, and augmented data security infrastructure. As per reliable estimates, the overall network automation market size had been pegged at an appreciable USD 1.7 billion in the year 2017.
Besides providing a wide range of connectivity applications, the SD-WAN technology has assisted numerous business verticals to reduce complexities in physical network infrastructure. The advent of advanced computing technologies such as machine learning and artificial intelligence has disrupted the digital business models – a factor that can be attributed for large scale adoption of SD-WAN technology in the last few years. In fact, as per a research study compiled by Global Market Insights, Inc., the SD-WAN technology apportioned more than 67% of the total revenue share of network automation market in 2017 and is anticipated to hold a prominent spot in the overall software segment in the upcoming years.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2805
Concurrently, traditional networks are increasingly being replaced by virtual and cloud-based applications which has fundamentally transformed the growth strategies of major firms partaking in network automation market in the recent times. Numerous startups have been developing automation solutions that can configure manually-managed network devices, improve security capabilities, and supervise service offerings more efficiently. In this context, it would be prudent to mention that prominent tech giants have focused on acquiring these startups as it would assist them in augmenting their resources to deliver next-generation solutions that would serve all size and scale of customer needs. Enlisted below are a few instances that underscore how these acquisitions are shaping the network automation industry trends:
- To strengthen its service management portfolio and optimize its digital assets, IBM acquired the California-based network automation software provider Intelliden in 2017. Reportedly, Intelliden assists telecom firms to manage, configure, and scale their networks and automate an array of other services. Apparently, the technology of Intelliden would be integrated into IBM’s Tivoli Software which is known to enable various businesses to combine service delivery and significantly accelerate the automation of networks.
- With an aim to offer its customers an SD-WAN solution that is easy to deploy across enterprise branch offices and other WAN installations, Cisco has recently acquired an emerging WAN solutions provider Viptela for USD 610 million. Even though Cisco has a robust WAN product portfolio consisting of Intelligent WAN and Meraki SD-WAN, the addition of Viptela’s unique technology would reportedly expand and improve the overall functionality of the company’s WAN solutions in the times to come.
Implementing network automation solutions through cloud-based services has lowered capital expenditure and operational costs, enabling enterprises to scale their technological capabilities at a faster pace. Primarily driven by growing opportunities to offer enterprises with additional services like monitoring, security, and application optimization beyond basic automation tasks, the network automation industry share is anticipated to expand vigorously over the estimated timeframe. With rising investments by major tech firms coupled with innovative products being launched by startups, the network automation market size is forecast to register an excellent y-o-y growth rate of 22% over 2018-2024.
Author Name : Saif Ali Bepari
Network traffic analytics market to be propelled by demand for network traffic monitoring in BFSI segment, advent of AI-based solutions to boost the industry progression
In this age of technology, increased accessibility to the internet has dictated the augmentation of the network traffic analytics market for monitoring and managing traffic, across different platforms in several consumer driven industry verticals. Traffic analysis is crucial in gaining detailed insights into the type of data that is flowing through a network, so as to have a better understanding of a business’ network utilization, connection speeds and the type of data packets. Providing the origin and destination of a transaction enables an enterprise’s IT system to identify any suspicious data packet, promoting the utility of the network traffic analytics industry. With the growing frequency of cyberattacks threatening to disrupt operations and data security in major organizations, the network traffic analytics market will experience a tremendous uplift through enhanced network monitoring solutions.
France Network Traffic Analytics Market Size, By Services, 2017 & 2024 (USD Million)
Real-time data analysis has proven to be vital in ensuring fast detection and investigation capabilities of a company’s network handling system. The network traffic analytics market, boasting a valuation of over USD 780 million worldwide in 2017, has evolved accordingly to provide solutions for conducting analytics on real-time network information. Essentially, the breakdown of network traffic helps to establish a normal working pattern of an organization’s functioning, allowing easier recognition of components that seem out of the ordinary, like connection of any unregistered device or unusual traffic spike. Network monitoring, in a sense, adds a level of security against a probable event and enables the implementation of proactive safety measures. The BFSI sector, particularly, stands to benefit extremely from advancements within the network traffic analytics industry.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2818
Companies in the BFSI sector need to guarantee a reliable, safe and consistent service to retain customers, making them uniquely positioned among other industry domains. A network breach or downtime can result in distrust among the customers regarding the security of their savings, investments and private information. The network traffic analytics market comprises of solution providers that offer centralized monitoring systems to track, analyze and resolve network issues on not only physical but also virtual platforms. This is also necessary as many businesses in the BFSI sector have a number of units dispersed throughout a region, requiring efficient system for collating network data from all the locations and display it on an integrated dashboard.
Similar to the thousands of external transactions that organizations such as banks monitor every day, even internal network and communication is prone to slowness, errors and malicious attacks, presenting a need for the services of the network traffic analytics industry. Network monitoring supplies extensive information on internal traffic, highlights slow applications and detects the presence of spywares that could jeopardize a company’s image. The ability to monitor suspicious activity assists in spotting outflow of personal information of customers which could lead to huge financial thefts through banking platforms. For example, in 2015 a bank in Kiev, Ukraine, was informed that their ATMs are dispensing cash without authorization, and investigation into the case led to the discovery that the bank’s internal computers are affected.
Elaborating further, it was established that a malware had infiltrated their system that was permitting cybercriminals in different regions to access records pertaining to the behaviors of bank employees and how they conducted daily tasks. Reportedly, the criminals were able to also transfer millions of dollars from the U.S., Russian, Swiss and Japanese banks into their own dummy accounts. Effective analysis of network traffic to identify unfamiliar connections can help banks and other financial institutions to prevent such a disaster, implying the compulsion of the network traffic analytics market for providing network traffic monitoring solutions.
The integration of new and innovative technologies with network monitoring and analysis systems will further improve their ability to measure performance metrics at granular levels, mitigate cyber threats and deliver faster return on investment. Lastline, a leading cybersecurity company, has recently introduced an AI-powered network traffic analysis solution. Representative of an emerging segment within the network traffic analytics market, which will create a smarter system for analyzing the traffic entering or operating inside a network. The solution applies AI (artificial intelligence) to the network traffic and could become one of the most effective threat monitoring technology available in the market.
The AI network analysis solution identifies the initial point of infection, movement within system, along with every system that has been compromised by an attack, internal communication or external outflow of data. Lastline’s product can be expected to reinvigorate the network traffic analytics industry competition, as it is more accurate and efficient in making threats visible than manual monitoring, which can be affected by lack of experience and the load of a large IT network. All in all, the global network traffic analytics market, estimated to register a 20% CAGR from 2018-2024, will witness enormous growth from advanced traffic monitoring solutions.
Author Name : Pankaj Singh
Network function virtualization market to register a staggering CAGR of 42% over 2018-2024, large scale deployment of NFV technology across IT and telecom sector to drive global industry progression
Bringing about a disruptive change in the way present-day digital networks are being built, operated, and managed, the network function virtualization (NFV) market has established itself as one of the most profitable niche verticals of the sustainable and smart industry. Owing to a substantial increase in the demand for robust data management systems across various business sectors, the deployment rate of NFV technology has witnessed a massive jump over the past few years. Especially, the rising number of collaborations between IT giants and renowned cloud service providers has consequentially boosted the growth prospects of NFV industry. For instance, the recently formed partnership between Indian IT major Tech Mahindra and cloud computing behemoth VMware is a testament to the growing prominence of NFV technology in connecting virtual machines and physical interfaces.
Europe Network Function Virtualization (NFV) Market Share, By Application, 2017
Elaborating further, both the firms are likely to integrate VMware’s OpenStack ready NFV platform with digital transformation expertise of Tech Mahindra to assist global communication service providers in accessing new market opportunities, accelerating new service delivery, and enhancing the overall business economics. Moreover, the solutions provided by both the companies would be based on distributed micro data center architecture that will certainly lower the expenses related to network infrastructure. Apparently, the formation of such robust partnerships would optimistically impact the NFV market share in the years ahead.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2768
At a time when the global IT and telecommunication sector has been recording unprecedented growth owing to a major shift toward automation, next-generation technology solutions such as NFV have garnered immense significance. With the help of a robust virtualized network architecture in conjunction with NFV technology, the telecommunications companies can now launch new services in a couple of months. Moreover, the deployment of NFV enables telecom network operators to significantly reduce power consumption through consolidating equipment, lower the maturation cycle, improve the flexibility of network service provisioning, and enhance operational efficiency. As a consequence of all these advantages, the IT and telecommunication sector has emerged as the major contributor toward NFV industry share expansion in the recent times. In fact, as per a research report compiled by Global Market Insights, Inc., the IT and telecommunication segment held over 32 percent of the revenue share of the overall NFV market in the year 2017.
In this regard, developing economies along the likes of India and China have emerged as the fastest growing terrains for the telecom industry in the last decade. This has, in turn, benefited the NFV market players operating in these nations as the deployment of NFV technology in the telecommunication sector has been on the rise. Testimony to the aforementioned statements is the recently organized SDN & NFV India Congress 2017 which aimed at deliberating on the opportunities and the evolving role of NFV technology on 5G networks in the context of India’s telecom industry. Held for the first time in India, the Congress has been supported by tech giants such as IBM, Juniper Networks, Ericsson, Huawei, UT Starcom, ADVA Optical Networking, and Nokia. Needless to mention, the outcomes of such proactive initiatives would aid the IT and telecom sector to retain the top spot across the application spectrum of NFV industry in the upcoming years.
Meanwhile, it would be prudent to mention that the seamless deployment of NFV technology has been facing certain challenges which includes ensuring compatibility with legacy platforms, interoperability, performance trade-off, and simplicity which might prove to be roadblocks in rapid product penetration. However, the applications of NFV technology would undoubtedly drive various business verticals toward the next phase of network evolution and would prepare an ecosystem where the advantages of 5G connectivity would be leveraged in a highly efficient and agile manner. Driven by an escalating demand for server consolidation and data center virtualization, the remuneration portfolio of the global NFV market is projected to surpass USD 70 billion by 2024.
Author Name : Saif Ali Bepari