CCTV Camera Market Size, Application & Forecast 2025

The global market for CCTV camera is considered as an extremely competitive in nature, owing to the presence of a large number of players operating worldwide, states a new study by TMR. In the last few years, several new players have entered the market in order to attain a leading position in the market, thus supporting the overall growth. The key players in the market are focusing on enhancements and the development of new products, which is projected to ensure the development of the global CCTV camera market in the next few years. In addition to this, the increasing number of end use industries is another factor that is estimated to ensure the development of the overall market in the coming few years.

The key players that are operating in the CCTV camera market across the globe are Axis Communications AB, Geovision Inc, Pelco Inc, Zhejiang Dahau Technology Co. Ltd., Honeywell International Inc., Toshiba Corporation, Panosonic System Network Co. Limited, Bosch Security Systems, Inc., and Hanwha Techwin Co. Ltd.

As per the research study by TMR, the global market for CCTV camera is expected to reach a value of US$23.32 bn by 2025. The market is expected to register a 12.70% CAGR between 2017 and 2025. The CCTV camera market across North America and Asia Pacific are projected to witness high growth over the next few years. The rising number of security threats and the increasing number of terrorist attacks are the main factors that are projected to encourage the growth of the markets over the next few years. In terms of technology, the analog CCTV camera segment is predicted to observe a high growth in the next few years.

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In the last few years, CCTV cameras have gained immense popularity across diverse application segments, thanks to which the market is projected to witness high growth in the next few years. The rising use of CCTV cameras in hospitals, education institutions, and retail sector is expected to ensure the development of the market across the globe. There has been a tremendous rise in the number of crimes and the rising terrorist attacks are some of the other factors that are projected to boost the demand for CCTV cameras over the next few years. In addition to this, the rise in the level of awareness among the people concerning the benefits of installing CCTV cameras are projected to support the growth of the market in the next few years.

Furthermore, the introduction of new types of CCTV cameras and the introduction of new technology are expected to ensure the growth of the global CCTV camera market in the next few years. Also, the introduction of 4K cameras and the rising adoption of advanced security camera technology are further anticipated to encourage the development of the global CCTV camera market over the next few years.

High Cost of CCTV Cameras to Inhibit Market Growth in Near Future

The global market for CCTV camera is anticipated to witness a downfall in the growth over the next few years, owing to the few challenges that the players may face while operating in the market. The high cost of CCTV cameras and the required cost for maintenance are projected to inhibit the growth of the global CCTV camera market in the next few years. In addition to this, the requirement of high investments for research and development activities, which is considered to restrict the development of the overall market in the coming few years.

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This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “CCTV Camera Market (Model Type – PTZ Camera, Box Camera, and Dome Cameras; Technology – Analog CCTV Systems, Wireless CCTV Systems, IP-based CCTV Systems, and Hybrid CCTV Systems; End-Use Industry – Retail, Hospitality, BFSI, Home Security, and Government) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”

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Robotics Market Size, Application & Forecast 2025

Transparency Market Research (TMR) observes, the global robotics market is highly conciliated due to presence of number of companies operating in the market. Some of the key players operating in the global robotics market are Fanuc Corporation, iRobot Corporation, Northrop Grumman Corporation, and Google Inc. These players are focused to manufacture products with their maximum technical and business strength for product innovation and commercialization of these products.

A report estimates, the global robotics market is expected to attain value of US$147.26 bn by the end of 2025 with a CAGR of 17.4% over the forecast period of 2017 to 2025. The market was valued at revenue of US$35.23 bn in 2016.

Based on volume, the global robotics market valued at 677.2 thousand units in 2016 and is predicted to amount to 2,731.2 thousand units by the end of 2025, expending with a CAGR of 17.0% over the forecast period from 2017 and 2025. Static type robot is dominating the global robotics market as it is widely deployed across numerous industries such as aerospace, manufacturing, and automotive. Based on the region, North America is dominating the leading position in the global robotics market.

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Labor-intensive industries are facing challenges of rising labor cost and lack of skilled workforce is boosting adoption of the robots. This has pushed companies to adopt robotic technology to automate operations. The automotive, aerospace, and healthcare industries for reduction of labor-cost and overcoming the lack of skilled labor globally. Industrial robots are able to performing numerous programmed tasks across numerous manufacturing and production. These robots are able to perform such task which are often dangerous for human workers. Service robots are increasingly assisting human beings for jobs that are typically repetitive and are dangerous. The aforementioned factors are fuelling growth of the global robotics market.

The unmanned aerial vehicles have significance for surveillance, conducting targeted bombing discreetly, and capturing images among other purposes. Additionally, military drones are cost-effective and manned aerial vehicles that offers advantages of strolling above the ground and helps to gather maximum information about target discreetly that ground attack. Additionally, due to the benefits offered by the robotics, the defense sector is experiencing higher investment in improvement of robotic technology.

High Installation and Maintenance Costs to Limit Growth

Despite of growth prospects, the high investment in the research and development coupled with high initial investment along with higher manufacturing cost. These factors are restraining growth of the global robotics market. Also, high maintenance cost of robots is restraining growth of the robotics market. Additionally, other factors such as turning a prototype, commercial robot, and commercialization of the product is limiting growth of the global robotics market.

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Digital Asset Management Market Business Statistics Focus Report Growth by Top Key Players

The vendor landscape of the digital asset management is highly consolidated with the presence of a handful players in the market, says Transparency Market Research. Some of the major players in the digital asset management market are Cognizant Technology Solutions Corp, Hewlett-Packard Company, Oracle Corporation, Oracle Corporation, Dell Technologies, and IBM Corporation.

These players are focusing towards business expansion, acquisition and mergers and collaboration in order to concretize their market position. Along with this, they are looking to strengthen their geographical reach and customer base in order to garner majority of share.

For instance, in year 2019 - Hewlett Packard collaborated with PubNub to bring new Intelligent Edge capabilities to the enterprise. The company is projecting to expand PubNub’s technology and value a wider range of industries and applications.

Transparency Market Research estimates that the global digital asset management market, which valued at US$1,732.5 mn in 2016, will exhibit an excellent CAGR of 15.6% from 2017 to 2025 and account for US$6,327.8 mn in 2025.

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Regionally, North America is expected to hold a majority of share in the digital asset management market during the forecast period that is from 2017 to 2022. This is mainly because the region has a high concentration of media and entertainment industries. Further on the basis of type, the small and medium enterprises (SMEs) segment is expected to grow at a significant CAGR rate during the forecast period owing to the dependency of the organisation on digital asset management as compared to the larger enterprises.

The digial asset management market is expected to grow at a significant pace in the coming few years, thanks to their ability to solve business complexities for better cost optimization on their business processes. In the coming few years, several companies are focusing on improving their online marketing presence as ecommerce has emerged as prominent point of sales. Further, rise in digital marketing activities across the globe has splure the need for organizing digital assets.

Substential boost in the demand for collaborative digital workflow especially for a smoth sales and marketing activities is a prominent factoe expected to drive the global digital asset management market. Other factors like increasing smart phones penetration, redue in rate of intert access and improvwmwnt in digital content are some of the vital factors expected to drive the global digital asset management market in the forthcoming year.

Integration of AI with Digital Asset Management Solution to Boost Prospects

Despite several drivers, growth in the digital asset management market is likely to hamper owing to the low awareness and reluctance of small enterprise to leave traditional approach.

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To overcome this, players in the digital asset management market is focusing on offering integrating artificial intelligence with digital asset management solutions and services for massive digital content storage. This is another important factor projected to create new growth opportunities for the digital asset management players in the forecast time period.

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Artificial Intelligence in Education Market Business Statistics Focus Report Growth by Top Key Players

Education is one of the fastest growing industry verticals adopting artificial intelligence. This is due to the growing advancement in artificial intelligence and machine learning across the globe in various industries. AI can respond to ambiguous real-world inputs probabilistically, which is one of its critical features in the education industry. The major application of artificial intelligence in education includes analytics; bots; robotic process automation (RPA); and report generation.

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Customer preference varies widely in the current market scenario of education. Artificial intelligence has helped educational institutes and students to customize and personalize the service according to the needs of the end-user. AI has helped educational institutions to develop skills and testing systems in education.

Unawareness and Poor System Infrastructure

Fastest growing regions such as South America and Asia Pacific face strong technological and digital gaps within the education industry. The level of awareness in the education industry with regards to AI is comparatively low in countries such as India and other Asian countries.

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The network infrastructure to efficiently run artificial intelligence in the education industry at a remote location is not very effective. Thus, unawareness about artificial intelligence in education and poor network infrastructure is hampering the growth of the market.

North America to Dominate the Global Artificial Intelligence in Education Market

In terms of region, the global artificial intelligence in education market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the artificial intelligence in education market during the forecast period due to its strong dominance in artificial intelligence across the globe.

COVID-19 Impact on the Global Artificial Intelligence in Education Market

The COVID-19 pandemic is expected to moderately impact the global artificial intelligence in education market for a short-term period. The lockdown has resulted in total shutdown of educational institutes, which has led to low investment in artificial intelligence at educational centers.

Global Artificial Intelligence in Education Market – Competition Landscape

• In July 2020, University of Florida has announced a US$ 70 Mn partnership with NVIDIA for a new AI supercomputer based on NVIDIA DGX SuperPOD architecture. An additional US $20 Mn investment has created an AI-centric data center that houses the world’s fastest AI supercomputer in higher education.

Cognii, Inc.

Cognii, Inc. was founded in year 2013 and is headquartered in San Francisco, US. Cognii, Inc. is a leading provider of artificial intelligence based educational technology. The company offers assessment technology to evaluate answers for online learning platforms.

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BPM-platform-based Case Management Software Market Growth Factors Details by Regions, Types and Applications

BPM-platform-based case management software are configurable applications which are designed to reduce the time and complexity of creating case-style process solutions by providing architectural patterns. It is a licensed software which provides architectural blueprint and accelerator for case handling application solutions.

Increasing Adoption of Automation & Digitization by SMEs

Both large enterprises as well as small & medium enterprises are extensively adopting digitization, smart technologies, and automation. Overall, 90%-95% of total enterprises are small & medium in size while only 5%-10% are large. Majority of SMEs within the U.S have integrated or are looking to integrate their work flow with automation to gain operational efficiency. Thus, adoption of BPM-platform-based case management software has also increased globally. Adoption of automation by SMEs in the workflow process is expected to drive the growth of the BPM-platform-based case management software market.

Increasing Need to Reduce Operational Cost

Organizations are increasingly seeking to reduce the operational cost to survive in this competitive environment. Financial institutions, retail enterprises, and many other industries are eliminating manual operational work and shifting workflow on to the software. BPM-platform-based case management software eliminates manual work and reduces the labor cost. Labor cost is one of the major costs which needs to be paid by organizations to maintain, manage, and validate workflow automation.

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Cloud Security and Network Transmission Issues

BPM-platform-based case management software models rely heavily on cloud services and are susceptible to service impairment or control loss, data leakage, service loss including service interruption, or in worse cases, monetary loss. The user experience may also be affected by unstable network transmissions at some places and this would limit the reach of cloud-based services including cloud-based and hybrid services/solutions in the affected regions.

North America to Dominate the Global BPM-platform-based Case Management Software Market

In terms of region, the global BPM-platform-based case management software market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the BPM-platform-based case management software market during the forecast period due to increased adoption of digitization and automated workflow systems within SMEs.

COVID-19 Impact on the Global BPM-platform-based Case Management Software Market

The COVID-19 pandemic is expected to moderately impact the global BPM-platform-based case management software market for a short-term period. Total shutdown in companies due to the lockdown is likely to lead to low investment in new technology on account of the economic depression across the globe.

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Global BPM-platform-based Case Management Software Market – Competition Landscape

• In March 2018, IBM Business Automation Workflow V18.0 combined IBM Business Process Management with IBM Case Manager, which is now an available product in the IBM Digital Business Automation V18.1 offering

IBM Corporation

IBM Corporation was founded in year 1911. IBM Corporation deals in five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems, and Global Financing. IBM business automation workflow provides:

• Tools that simplify designing and deploying of business solutions
• A ready-to-use interface for users
• Analytics platform

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Artificial Intelligence in Food and Beverages Market Global Market Analysis and Forecast Model

Changing and growing consumer preference towards affordable, easily accessible, and fast food options has ushered in transformation in the food and beverage industry. Prominent market leaders are making optimum usage of advanced technologies, such as machine learning and artificial intelligence. These technologies are scaling up operations and assisting companies to retain its relevance in a dynamic environment of the market.

The prevalence of artificial intelligence in food and beverage market is a recent phenomenon and comprises numerous major players. Therefore, the global artificial intelligence in food and beverages market is competitive. Nevertheless, in terms of market share only a handful of market players dominate the market globally. The major players are emphasizing on expanding their footprint on unexplored geographies and expanding their customer base on foreign shores.

In its latest offering, Transparency Market Research has come up with a report titled “Artificial Intelligence in Food and Beverages Market”. This report attempts to elucidate all the aspects of global artificial intelligence in food and beverages market so that enough relevant information could be provided to the businesses operating in the market.

Artificial Intelligence in Food and Beverages Market: Notable Developments

India based precious metals producer and refiner Hindustan Platinum Pvt. Ltd has acquired electrical contacts manufacturing plant of ABB, Swiss engineering firm, in Puerto Rico.

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Honeywell International Inc., Rockwell Automation Inc., ABB Ltd, Key Technology Inc., and Raytec Vision SpA are key players operating in the global artificial intelligence in food and beverage market.

Artificial Intelligence in Food and Beverages Market: Key Trends

Below-mentioned are market trends and opportunities that are associated with the global artificial intelligence in food and beverage market:

Better Customer Service by Companies to Stimulate Market Growth

Artificial intelligence is used in the understanding of consumer behavior, which is estimated to result in predictions that are more correct and precise. Furthermore, it enables organizations and marketers to engage in deeper interactions, communicate with consumers at a personal level, and augment their brand-related overall experience.

Besides, increasing adoption of chatbots by people so as to work effectively on the offline mode. According to an American express report, more than 50% of the customers are ready to spend more on companies that offer better customer service. This opens up vistas of opportunity for artificial intelligence. Such opportunities are likely to trigger growth of global artificial intelligence in the food and beverage market.

Artificial intelligence also assists in the deduction, monitoring and analysis of customer sentiments and behavior across various social media platforms.

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Optical Character Recognition Market Report- External Fixators and Internal Fixators

The global optical character recognition market was valued at US$ 15.1 Bn in 2019 and is expected to expand at a CAGR of ~15% from 2020 to 2030, reaching US$ 70 Bn and volume of 58,166 thousand units by the end of the forecast period. The global optical character recognition market will continue to be influenced by a range of macroeconomic and industry-specific factors.

Asia Pacific will continue to be at the forefront of global demand, with the market in the region projected to expand at a higher rate during the forecast period. All businesses are affected by the increasing lockdown situation due to COVID-19. Hence, most manufacturing and retail companies halted all business operations due to lack of workforce and low return on investment during the lockdown.

Increasing Adoption of Digitization Process among Enterprises Driving Optical Character Recognition Market

Companies are adopting digitization for different business processes that helps to increase efficiency. Most companies are taking interest and investing in optical character recognition technology to digitalize their work and increase productivity. The optical character recognition market is majorly driven by increasing adoption of the OCR technology among startup businesses to maximize the return on investment.

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Solution providers of OCR are integrating and providing advanced software solutions with new innovative technology to drive the demand for OCR services and solutions among BFSI and media & entertainment companies. Innovative technologies, such as machine learning, computer vision, and artificial intelligence help to enhance the performance of solutions. OCR helps in improving data accuracy in digital form, minimizes operational cost, and simplifies the different data-related operational processes.

Mobile OCR is majorly adopted by transportation and logistics for scanning bills and invoices for the delivery of goods at various locations. Companies are investing in advanced technologies to reduce the expenses on data management and for data extraction of important information. The latest OCR software comes with advanced features that overcome typical problems related to typographical (misprints, spelling mistakes) and formatting complexities. This advancement has lowered the cost of data capturing and increased the demand for the OCR technology.

Optical Character Recognition Market: Competitive Dynamics

The global optical character recognition market comprises large as well as mid-sized manufacturers and suppliers. Vendors in the optical character recognition market are currently focusing on introducing advanced software and integrating new capabilities within the hardware and software to enable optical character recognition across company boundaries and meet the need to manage OCR operations. Moreover, vendors are adopting partnerships and acquisition strategies to proficiently compete in the regional market.

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Some of the significant players in the global optical character recognition market include ABBYY Software Ltd., Accusoft Corporation, Adlib Software, Adobe Systems, Inc., Amazon Web Services, Inc., Anyline GmbH, ATAPY Software, Beijing Wintone Science & Technology Co. Ltd., Black Ice Software LLC, Captricity (Vidado Inc.), CC Intelligence Corporation, Creaceed SPRL, CVSION Technologies Inc., Exper-OCR Inc., Google Inc., Hyland Software, Inc., IBM Corporation, Infrrd Inc., IRIS SA (Canon), LEAD Technologies Inc., Microsoft Corporation, NTT DATA Corporation, Nuance Communications, Oki Europe Ltd, Open Text Corporation, Paradatec, Inc., Prime Recognition Corporation, Ricoh Group, Ripcord Inc., SEAL Systems Inc., Smart Engines, Transym Computer Services Ltd, and Xerox Corp.

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