Point-of-Sale (POS) Terminal Market to rise at a CAGR of 11.5% till 2025 | TMR

Global POS Terminal Market: Snapshot

The global POS terminal market is growing at a healthy pace in the last few years. The rising adoption across diverse sectors and the increasing awareness among consumers related to the benefits it offers are projected to encourage the development of the market in the coming few years. Furthermore, the key focus on advancements and innovations is expected to offer growth opportunities for the players in the near future. The advent of real-time analytics functionalities is expected to act as a major opportunity for the development of the POS terminal market in the coming years.

As per the market intelligence report by Transparency Market Research, in 2016, the global market for POS terminal was worth US$54.68 bn. The market is estimated to register a promising 11.50% CAGR between 2017 and 2025.

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Increasing Adoption by Small-size Retailers to Encourage Market Growth

The growing demand for cost-effective technologies in order to manage the inventories and payments in large end-user industries, including healthcare, retail, hospitality, and warehouse and distribution is the major factor augmenting the growth of the global POS terminal market in the coming years. In addition to this, the growing need for user-friendly, secure, and convenient payments in diverse application segments is another key factor encouraging the market growth. The rising adoption of POS terminals in the hospitality and retail sector is further estimated to drive the global POS terminal market in the near future.

The small-size retailers in several developing nations are adopting the POS terminals for secure and convenient payment options, thus driving the overall market. Moreover, the rising demand for wireless and mobile POS terminals among the small-size and medium-size businesses, owing to the affordability is further projected to accelerate the market growth in the coming few years. Furthermore, the growing popularity of POS terminals in warehouses and the growing need for advanced software in order to prevent frauds are considered to offer lucrative opportunities for players in the next few years.

Online Project Management Software Market to Reach US$ 6.68 Bn by 2026 Sales and Revenue

According to a new market report published by Transparency Market Research, the global online project management software market is expected to reach a value of US$ 6.68 Bn by 2026 due to the increasing adoption of cloud-based project management solutions. The market is projected to expand at a CAGR of 9.4% during the forecast period from 2018 to 2026. The market in Asia Pacific is anticipated to experience healthy growth followed by Middle East & Africa during the forecast period. Large enterprises segment holds the dominant share in the global online project management software market, due to the increasing adoption of project management solutions across the globe.

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Increasing need for efficient project management solutions is driving the global online project management software market

Despite sluggish growth of the economy in some regions and a confined IT budget, companies are purchasing project management software solutions in order to efficiently manage and optimize their project resources. Online project management software helps in gaining visibility of the market, easily turning strategy into an actionable plan to achieve success. In addition, online project management software helps to access real time dashboards anywhere and anytime. It also helps the project manager to stay up to date regarding the status of reports and ensure that no last minute details are missed. The rising need for cost management is also one of the factors that is expected to drive the online project management market. Online project management software solutions help in the efficient allocation of resources for a specific job, thereby reducing the overall cost. Enterprises in Americas and Europe operate at much higher costs. Therefore, the adoption of project management software solutions in these regions is continuously growing.

Online Project Management Software Market: Scope of the Report

The online project management software market is segmented on the basis of end-user and geography. The end-user segment has been further classified into small and medium sized enterprises, large enterprises, and government. According to the research study, large enterprises are anticipated to experience flourishing growth during the forecast period. This is mainly due to the fact that large enterprises are heavily spending on IT infrastructure and technologies. Several large enterprises are also laying emphasis on strengthening their market position by acquiring regional or SME’s across the world. This is further expected to increase the number of projects and activities for companies and project managers. In order to manage and control a large number of projects, organizations are focusing on using online project management software in the near future. Additionally, small and medium sized enterprises are also focusing on investing in IT infrastructure and technologies to enhance their businesses and deliver projects effectively and efficiently with reduced project cost and duration.

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Digital Transformation Spending in Logistics Market to reach US$ 94,972.3 Million by 2026 Forecast

According to a new market report published by Transparency Market Research, the global digital transformation spending in logistics market is projected to reach US$ 94,972.3 Mn by 2026 driven by exponential rise in digital transformation spending in logistics modules. The market is projected to expand at a CAGR of 10.7% during the forecast period from 2018 to 2026. Growth of the market is attributed to rise in demand for digital transformation in logistics and increase in adoption of cloud-based deployment models to offer quality services to clients. North America is anticipated to lead the global digital transformation spending in logistics market, followed by Asia Pacific, Europe, Middle East & Africa, and South America, during the forecast period. The digital transformation spending in logistics market is in a nascent stage and is anticipated to expand rapidly in the next few years.

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Complete Industry Evolution to Drive Market

Digitalization is happening across industries, and the benefits are revolutionary for companies with greater consumer awareness and reach, higher productivity, and innovative business models. It offers the potential for old-economy sectors to take steps in pushing efficiency and customer ease. Industries are investing in digital solutions for input, processing, and output competences throughout the business ecosystems. Above and beyond the benefits, several industries are pushed toward the adoption of new technologies due to new regulatory regimes. The utilities sector, for instance, has been induced toward adopting smart meters and liberalization of the energy markets. The transportation and logistics sector continues to make investments in digitally enabled infrastructure and has achieved efficiency improvements as a result of open-skies agreements and other regulations. This also leads to various kinds of integration. For instance, XPO Logistics, with a futuristic vision, started developing in-house digital solutions (backward integration) pertaining to logistics & supply chain solutions and warehouse management systems. This provides the company an upper hand in terms of overall spend on digital solutions. XPO invests around US$ 450 Mn into technology each year.

Global Digital Transformation Spending in Logistics Market: Scope of the Report

Based on solutions, the global digital transformation spending in logistics market has been segmented into hardware solutions, software solutions, services, deployment, and industry. The hardware solutions segment dominated the global market in 2017. Hardware solutions enable users to optimize their applications on reliable, branded, and customized hardware platforms. In terms of deployment, the cloud-based segment held a prominent market share in 2017 and is expected to continue to dominate the market during the forecast period.

North America led the global digital transformation spending in logistics market, accounting for substantial share in 2017. The U.S. is the major market for logistics solutions in the region. Digital logistics solutions are also gaining popularity in Canada and Rest of North America. The digital transformation spending in logistics market in Europe, Asia Pacific, Middle East & Africa, and South America is expected to expand at a rapid pace during the forecast period.

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Wi-Fi Analytics Market is expected to reach US$ 9,461.0 Mn by 2026 Sales

The global Wi-Fi analytics market was valued at US$ 2,793.7 Mn in 2017 and is expected to expand at a CAGR of 14.6% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Wi-Fi Analytics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. Asia Pacific is expected to hold the dominant revenue share, with the market in the region expanding at a CAGR of above 16%. The global Wi-Fi analytics market is mainly driven by its strong demand from the hospitality industry and growing adoption of cloud based models

Growing adoption of SaaS based models, and strong demand for Wi-Fi analytics solutions from hospitality industry driving the market

Wi-Fi analytics offers an easy option to study, understand, and analyze the demographics of the population that uses the Wi-Fi services. It gives a point of entry to gauge the propensities of the users, their location, interests, and search interests. Hence, several industries use Wi-Fi analytics to tabulate key consumer data and use it to make informed decisions. The emergence of Wi-Fi analytics has assisted several industries and sectors in enhancing their services and offerings by studying the propensities of the consumers. Governments have become aware of the need to study the demographics and tendencies of the populace before initiating new plans, projects, or policies. Moreover, Internet of Things (IoT) technologies such as waste management, smart homes, and smart cities also rely on Wi-Fi analytics for data insights. Furthermore, businesses have become aware of the need to conduct data analysis before planning and strategizing their moves. This has helped in the growth of the Wi-Fi analytics market globally.

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5G rollout on Wi-Fi and installation of Wi-Fi hotspots in various countries play an important role in the expansion of the Wi-Fi analytics market

The Wi-Fi analytics market can be segmented based on deployment, end-user, application, and region. The deployment segment is classified into on premise and cloud/SaaS model. The cloud/SaaS model type is significantly popular among users. Within the application segment, marketing and advertising tends to hold the largest market share in terms of revenue.

Growing number of Wi-Fi hotspots in various countries and growing awareness about Wi-Fi marketing driving the Wi-Fi analytics market

Several end-use industry verticals, especially the retail stores, hypermarkets, supermarkets, and malls are using Wi-Fi analytics platforms to increase footfall, analyze customer behavior, and formulate promotional strategy. Also, retail industry is expected to expand at a higher CAGR during the forecast period.

North America dominance of the Wi-Fi analytics market projected to continue

In terms of geography, the Wi-Fi analytics market is segmented into five regions namely, North America, South America, Middle East & Africa, Asia Pacific, and Europe. Among these, North America is expected to hold a major share of above 40% of the market, in terms of revenue, by 2026. The continuous adoption of analytics platforms among mid-size and small retail stores and hotels is the major driving factor for the strong growth of the Wi-Fi analytics market in North America.

Virtual Fitting Room Market to Reach US$ 14,869.1 Mn by 2026 – Revenue

According to a new market report published by Transparency Market Research, the global virtual fitting room market was valued at US$ 2,501.8 Mn in 2016 and is expected to expand at a CAGR 22.7% from 2018 to 2026, reaching US$ 14,869.1 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the virtual fitting room market in 2017. This is primarily because North America is among the earliest adopters of advanced technologies. Another major trend in North America is the development and adoption of 3D body scanning virtual fitting room which is also anticipated to boost the growth of the market in the region.

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Rising implementation of advanced solutions to offer better shopping experiences,and growing need to minimize return rates and improve conversion rates driving the market

Rising implementation of advanced solutions to offer better shopping experiences, and growing need to minimize return rates and improve conversion rates are the major factors which are expected to fuel the growth of the virtual fitting room market across the globe. A quickly evolving competitive environment, a seismic shift toward advanced shopping, and the continuously changing opinions of highly informed customers are leading to a new perception in the retail industry. Therefore, retailers are highly focused on providing enhanced shopping experiences to their customers with an aim to broaden their customer base and improve sales. In the retail industry, specifically in online shopping, the return rate of apparel are very high. Most of the clothing ordered online is returned due to wrong fitting. VFR is designed to be computationally efficient, improving the technique of shopping online for new clothes. Furthermore, consumers today are more skeptical, fickle, and distracted than ever, making it impossible for many retailers to hit their retention goals. By adopting virtual fitting room solutions, retailers are able to offer comfort, improve customer retention, and streamline the entire fitting room process, which in turn drives the growth of the virtual fitting room market.

Virtual Fitting Room Market: Scope of the Report

The global market for virtual fitting room has been segmented on the basis of component, end-user, and geographic regions. On the basis of component, the market is segmented into hardware, software, and services. Hardware segment is further categorized into prefabricated and customized. Software segment is categorized into firmware/platform and mobile application. Services segment is further categorized into consulting, integration, and maintenance. In 2017, the hardwaresegment accounted for the largest market share, in terms of revenue, of the global virtual fitting room market. Furthermore, the mobile application segment is also expected to gain major market share throughout the forecast period. On the basis of end-user, the global virtual fitting room market is segmented into e-commerce and physical store. In 2017, physical store segment accounted for the largest share of the market. However, e-commerce segment is anticipated to expand at a higher growth rate during the forecast period. Among the end-users, physical store is further segregated into apparel, jewelry & watches, eyewear, and others (shoes & cosmetics).

Soft Skills Training Market-Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027

Soft Skills Training Market - Opportunities Await in Developing Countries

The soft skills training market is witnessing colossal growth, which remains significantly driven by the need to bridge the knowledge gap and prepare individuals for various business operations. As developing countries become the business destination for organizations seeking expansion, companies realize the importance of soft skills for middle- and senior-level officials.

As found by the study published by Transparency Market Research, the pace at which the IT and telecom sector has been scaling its business operations, it unsurprisingly remains the leading revenue catalyzer in the soft skills training market. Apart from this, determined attempts made by the governments of numerous countries towards introducing lenient reforms to attract Foreign Direct Investments (FDI) in the retail industry have been instrumental for its exponential gait. As part of such initiatives, retailing goliaths - Walmart, Tesco, JC Penney, and GAP - are scrambling towards establishing their businesses in developing countries, which creates attractive prospects for the soft skills training market.

All-in-all, given the impressive growth pace and future filled with lucrative opportunities, market players can look at a value of ~US$ 38 Bn by 2027.

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Technology Holds the Key to a Lucrative Future

As organizations realize the need for their workforces to imbibe new skills to stay relevant in workplaces, market players are pushed to rethink their approach to bring interactive learning to life. Currently, AR and VR technologies are taking over soft skills training, and are no longer merely limited for the training of technical and hands-on roles. In addition, AR- and VR-based soft skills training sessions are repeatable and reusable, which makes them easy on the pockets of organizations.

Since language is a crucial aspect of soft skills training, market players can launch training modules in different languages to target a broad range of end users, which is illustrated by Skillsoft Corporation. The company announced the delivery of its content in French, besides English, in the Canada market.

Market players should also note the performance of online courses over offline courses. As per the study, by 2027, online courses will outgrow offline courses, and their 24x7 availability will be a crucial driver causing this shift, given the prowess of cloud-based technology.

Since innovation in the landscape narrows down to technology, market players can partner with IT companies to benefit from the development of nascent technologies, and, in turn, deliver improved learning experiences.

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Location Based VR Market-Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Location Based VR Market - Snapshot

Location based virtual reality is a suite of hardware and software components that enable end-users to visualize and experience virtual environment in real-time. Virtual reality includes hardware and software that is required to provide a virtual environment of real or imaginary subject and further interact with it. Demand for location based virtual reality is expected to rise globally, largely due to rising applications in end-use sectors such as healthcare, education, gaming, and media and entertainment. The location based VR market are expected to expand substantially from 2017 onwards and expand at a moderate pace till 2021, owing to increasing possibilities of application in various end-use sectors such as retail, automotive, gaming etc.. Furthermore, the market is expected to expand toward the latter half of the forecast period (2022–2025), due to extensive adoption of hardware components, such as headsets and glasses, and increasing application of software and services among end-users. The location based VR market is expected to see value generation in commercial sector from year 2019.

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Some of the high investments in the developments of technology were made by technological giants such as QUALCOMM Ventures, Samsung Venture, Oculus, and Google Ventures. These technology giants are trying to create a monopoly in the market through investments and partnering with new emerging startups. The market is estimated to witness similar investment scenario from private venture capitalists and technology giants during the forecast period. Adoption of technology is higher in the gaming, media and entertainment sector, as compared to other sectors in the industry. Current advancements in technology in location based VR are boosting the expectation of end-users to experience virtual surrounding in different applications, irrespective of any location or time. Hardware developers have been introducing or updating location based VR enhancements in the last few years in order to improve user experience. 

The global location based VR market has been segmented based on component, end-use, application, technology type, and region. Based on component, the market has been divided into hardware and software. The hardware segment has been further split into head mounted display, head up display, glasses, sensor/input, and camera. Based on end-use, the market has been segregated into amusement park, themed attraction, 4D films, automotive, retail & transport, and healthcare. In terms of application, the location based VR market has been split into entertainment, media, training/ simulation, navigation, sales, and medical. Based on technology type, the market has been classified into 2 Dimensional (2D), 3 Dimensional (3D), and cloud merged reality (CMR). According to the analysis, adoption of 3D and cloud merged reality technologies is expected to be considerably high, as constant developments are being introduced in the market, while the data stored in cloud is easier to fetch, independent of location and time. Therefore, adoption of CMR technology is increasing across all regions. Moreover, adoption of location based VR in the automotive industry is increasing in Europe owing to the presence of a large number of automotive industries in the region. Applications of location based VR is also increasing in the healthcare industry, as patients are advised to play VR games in order to reduce anxiety.