Month: November 2021

The e-signature market is expected to demonstrate a healthy CAGR of 26.6% during the forecast period (2021–2030), owing to the increasing requirement for security, supply chain enhancement, and workflow efficiency in the corporate sector; increasing government support toward e-signature adoption; and rising volume of online documentation. Moreover, the escalating need for security solutions amidst remote working and COVID-19 pandemic environments will also help market revenue surge from $1,198.6 million in 2020 to $12,721.4 million by 2030.

One of the primary growth drivers for the market is the burgeoning demand for supply chain enhancement, security, and workflow efficiency from the corporate sector, owing to the digital transformation in the sector. The business workflow across the corporate sector is witnessing rapid digital advancements to meet the increased need for online digital authentication. Owing to this reason, enterprises across the world are swiftly adopting e-signature solutions as they offer authentication and security to online businesses. 

Currently, the increasing adoption of signature pads for forensic information preservation is becoming a prominent trend in the e-signature market. Signature pads can safeguard the forensic information of signatures, such as writing dynamics and pressure, owing to which they provide an extensive degree of security and personalization. This device uses a pen-type stylus to capture a handwritten signature. It has gained high prominence in the banking, financial services, and insurance (BFSI), government, and healthcare sectors. For instance, financial institutions of the U.S. are using pen interfaces for transforming the banking experience.

According to P&S Intelligence, North America contributed the highest revenue to the e-signature market in 2020, owing to mounting investments being made in advanced technologies in several sectors. The end-use sectors usage e-signature solutions for quality control, enhanced productivity, and high security. Whereas, the Asia-Pacific (APAC) market is expected to showcase the fastest growth during the forecast period, on account of the rising adoption of digital services across sectors, soaring online commerce activities, and increasing acceptance of online billing, paperless transaction, and online payment facilities in the region. 

Therefore, the increasing demand for e-signatures from the corporate sector and the rising need for security solutions amidst the pandemic and remote working ecosystem are driving the market growth across the globe.

The global over-the-top (OTT) services market reached a value of $92 billion in 2020 and it is predicted to exhibit huge expansion from 2021 to 2030 (forecast period). The market is being driven by the increasing penetration of the internet, rising internet speed, and soaring use of smart devices across the world.

Smart devices are bringing users closer to online content and thus, their increasing penetration is positively impacting the worldwide popularity of OTT services. Consumers can now access OTT content via internet-connected phones, including iOS and Android mobile devices, set-top boxes, tablets, laptop computers, gaming consoles, and smart TVs.

Additionally, the average time spent by people on smart devices is surging, as they are spending more time using different applications on these devices. Furthermore, the internet is massively impacting consumption and distribution channels for media. With the emergence of advanced technologies, such as optical fiber, 5G, and 4G/LTE networks and expanding network coverage, the consumption of data across the world is soaring.

In the coming years, the Asia-Pacific (APAC) region will be the fastest growing region in the OTT services market, as per the estimates of P&S Intelligence, a market research company based in India. This is ascribed to the surging population, soaring utilization of smartphones, and increasing penetration of the internet, especially in emerging economies, such as China and India.

For instance, according to the World Bank, around 41% of the population in India had access to the internet in 2019. Thus, the market is set to demonstrate rapid expansion in the coming years, mainly because of the increasing penetration of the internet, surging use of smartphones, tablets, and laptops, and rising consumer preference for online content, owing to the expanding network coverage across the world.

Telecom companies are using the geographic information system (GIS) technology to improve mobile and broadband services and monitor the broadband infrastructure. Moreover, the deployment of this technology helps telecommunication firms in exploring the untapped areas. The adoption of GIS enables data collection from multiple sources and data accumulation on a single platform, which helps companies have a better understanding of the challenges that potential growth areas face with regard to mobile connectivity and broadband services.

Therefore, the mounting focus on improving the broadband speed and mobile services will fuel the GIS in telecom market at a vigorous CAGR of 12.2% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will escalate from $1.3 billion in 2019 to $4.6 billion by 2030. The market growth will also be propelled by the burgeoning demand for network installation from the booming population of smartphone, tablet, and laptop users.

In the preceding years, the telecom sector of North America was the dominant user of the GIS technology due to the enormous demand for 5G services and deep penetration of smartphones, tablets, and other internet-connected consumer electronic devices, owing to the high disposable income of residents. Moreover, the rising focus of telecom firms on technological advancements facilitates the adoption of GIS in the region. Additionally, the surging need to improve customer services will encourage the deployment of this technology by telecom companies in the U.S. and Canada.

Whereas, the APAC GIS in telecom market will exhibit the fastest growth throughout the forecast period owing to the increasing internet penetration in South Korea, India, and China. Besides, the surging focus of the governments of regional countries on making hefty investments in the 5G technology to improve the network speed and connectivity will support the market growth in the region. For example, the government of South Korea has made robust efforts to increase the number of 5G subscribers to over 13 million in 2021, in just two years.

Thus, the surging demand for network installation and soaring need to improve mobile and broadband services will accelerate the adoption of the GIS technology in the telecom industry.

The popularity of cryptocurrency can be traced back to the introduction of Bitcoin, which observed an unprecedented growth in 2017. Following the popularity of Bitcoin, several new cryptocurrencies, such as Monero, Ethereum, Dash, Litecoin, and Ripple, were launched, owing to which corporate users in the banking, financial services, and insurance (BFSI) and government sectors have started using cryptocurrencies for transactions.

As every transaction is validated through a decentralized system, it requires certain devices and technologies to protect cryptocurrencies. Therefore, the rising adoption of cryptocurrencies across sectors will facilitate the deployment of blockchain devices globally. Additionally, the increasing use of cryptocurrency as a mode of payment is expected to drive the blockchain devices market at a healthy CAGR of 48.7% during the forecast period (2020–2030).

According to P&S Intelligence, the market revenue will surge from $0.3 billion in 2019 to $23.5 billion by 2030. The escalating use of this digital currency as a payment mode in the retail sector will fuel the demand for blockchain hardware wallets and point of sales (POS) terminals. Globally, the North American region adopted the highest number of blockchain devices in the recent past, due to the increasing deployment of emerging technologies, such as augmented reality and virtual reality (AR/VR), blockchain, and artificial intelligence (AI).

Moreover, the presence of stringent government policies for regulating the BFSI industry for higher security and transparency is also facilitating the usage of blockchain devices in the region. Of North American countries, the U.S. is the larger user of blockchain devices, owing to the hefty investments being made in blockchain technology in the country.

Furthermore, North America and Europe are expected to account for the largest share in the blockchain devices market, due to the increasing number of new players, owing to the implementation of favorable government policies on blockchain and emerging technologies. Additionally, the rising awareness about advanced technologies and the surging adoption of cryptocurrencies will also contribute to the market growth in these regions. Among European nations, the U.K., Switzerland, France, the Netherlands, and Germany are the prominent consumers of cryptocurrencies.  

Thus, the rising adoption of cryptocurrencies and the surging use of this digital currency as a mode of payment will propel the usage of blockchain devices in the coming years.   

A number of factors, such as the growing network traffic, escalating digitalization rate, mounting demand for the optimization of the networking infrastructure, and rising incidence of network attacks and security breaches will contribute to the network telemetry market growth during the forecast period (2021–2030).

According to P&S Intelligence, the market generated $300 million in 2020. Moreover, the rising advancements in the internet of things (IoT) and artificial intelligence (AI) domains will support the market growth across the world. Another growth driver for the network telemetry market is the burgeoning demand for the optimization of the networking infrastructure, owing to the increasing internet traffic and surging need to solve downtime issues.

For example, when real-time data is transmitted to multiple locations through network devices, the server becomes unavailable for some time, thereby resulting in downtimes. To overcome this challenge, end-users are focusing on the optimization of the infrastructure, which can be achieved by deploying network telemetry solutions.

Geographically, North America accounted for the largest share in the network telemetry market in 2020 due to the presence of numerous players, such as Arista Networks Inc., Pluribus Networks Inc., and Juniper Networks Inc. Additionally, the early adoption of advanced technologies, such as AI and IoT, and strong competition within every end-use industry in the U.S. and Canada are expected to contribute to the market growth.

Further, in order to launch 5G services, telecom companies here will need to optimize their networks with this new technology. Therefore, the increasing number of network attacks and security breaches and escalating demand for network optimization are expected to drive the demand for network telemetry solutions.

The U.A.E. heating equipment market will advance at a CAGR of 2.9% during the forecast period (2020–2030) owing to the rising number of construction projects in the transportation sector of the country and expanding hospitality sector of Dubai. According to P&S Intelligence, the market was valued at $89.5 million in 2019, and it will generate $121.4 million revenue by 2030.

In recent years, energy-efficient heating systems have become a major trend in the market as they help in reducing greenhouse gas (GHG) emissions. The heating equipment demand in the U.A.E. is driven by the growth of the hospitality sector in the country. The expansion of the hospitality industry can be attributed to the surging construction of hotels due to the rising tourist activities and the ongoing Dubai Expo 2020.

Dubai has already welcomed 3.23 million international tourists between January and August 2021. Thus, after the economic and tourist slump induced by the COVID-19 pandemic, heating equipment sales might be on the path to recovering to the pre-pandemic level by the end of this or the next year. The type segment of the U.A.E. heating equipment market is categorized into boilers, furnaces, heat pumps, and unitary heaters.

Among these, the furnaces category is expected to account for the largest market share in the forecast years. It is further classified into electric, propane, and gasoline. Whereas, the heat pumps category will witness the fastest growth during the forecast period owing to the low cost and better energy management of heat pumps. This category is further classified into the water source, ground source, and air source.

This market research report provides a comprehensive overview of the market

• The Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings