Global Call Center AI Market is Observing a CAGR of 23.0% during 2019–2024

The global call center AI market is expected to grow at a CAGR of 23.0% during the forecast period with its market size predicted to reach USD 2,896.5 million by 2024. Globally, call center AI industry players are leveraging market growth through product launches, partnerships, mergers & acquisitions, and geographic expansion. For example, in April 2019, Regions Financial Corporation partnered with International Business Machines Corporation to deploy AI solutions in its contact centers to enhance customer service experience and help bankers in their daily routine operations.

Automatic speech recognition (ASR) category held the largest share in the call center AI market in 2018

Based on technology, the call center AI market is segmented into natural language processing, machine learning, automatic speech recognition, computer vision, video recognition, and others. Of all, the automatic speech recognition (ASR) category held the largest share in the call center AI market in 2018. The growth of this segment is attributed to the fact that automatic speech recognition helps in creating a more accurate customer database, which in turn, helps the companies in forecasting customer behavior and achieving high customer satisfaction.

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 Geography Insight

Geographically, North America has accounted for the largest share in the call center AI market, globally and is predicted to grow significantly during the forecast period. The growth of this market is attributed to the existence of a large number of established players in the U.S., an increasing number of investments related to the adoption of AI, and an increasing preference for automated work operations in call centers in the region.

Competitive Insight

Some of the key players operating in the global call center AI market are Amazon Web Services Inc., Microsoft Corporation, Google LLC, International Business Machines Corporation, Oracle Corporation, Cogito Corporation, SmartAction LLC, Five9 Inc., Avaya Inc., NICE inContact, Talkdesk Inc., Zendesk Inc., Nuance Communications Inc., Haptik Inc., and SAP SE.

Key Takeaway from the Report:

• Among all the components, the solutions category held a larger share in the market in 2018. However, the service category is expected to witness faster growth during the forecast period.
• Of all the vertical, the BFSI category is expected to witness faster growth during the forecast period.
• Of all the deployment, the cloud-based category held the larger share in the call center AI market in 2018.
• Among all the technologies, the automatic speech recognition (ASR) category held the largest share in the call center AI market in 2018.

The Report Offers:

• Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players
  
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Global Cold Chain Market to Witness 9.4% CAGR During (2018-2024)

The global cold chain market is predicted to grow at 9.4% CAGR during the forecast period with the market size reaching USD 325.9 billion by 2024. The increasing demand for processed food and the increasing need for its preservation, increasing demand for the temperature control system to avoid health hazards, increasing penetration of e-commerce in the food and beverage industry are the key factors leading to the growth in the cold chain market, globally. 

Consumer inclination towards convenience foods with the least amount of chemical preservatives uses further supports the demand for refrigeration in the supply chain for storage and transport purposes. Refrigeration is vital in ensuring the consumption of safe food with regard to microbial, nutritional, and organic quality. With the changing lifestyle and urbanization, people tend to visit retailers or grocery outlet once a week, therefore, fruits & vegetables, meat, and dairy products must have a self-life of a minimum one week. This supports the growth of the cold chain market, globally.

Browse Market Insight and In-depth TOC on "Global Cold Chain Market – Analysis and Forecast (2018-2024)"

Based on type, the cold chain market is categorized into refrigerated transport and refrigerated storage. Of both the categories, refrigerated storage holds a larger share in the market, due to the huge demand for processed food, globally. Also, the demand for refrigerated transport is increasing at the faster CAGR during the forecast period, due to the increasing demand for processed or convenience food in the retail sector and increasing adoption of an online distribution channel.

Asia-Pacific accounted for the major share in the cold chain industry in 2017, globally due to the increasing foreign direct investment (FDI) inflow in the emerging economies such as India, Vietnam, and Indonesia. The large population base, increasing urbanization, increasing demand for processed food are other key factors leading to the largest share of the region. North America is the second-largest cold chain market as the U.S. is home to most of the major players worldwide, which is due to the fact that the U.S. population is more inclined towards the adoption of convenience food.

Market players in the cold chain industry are investing capital to develop and adopt technologically advanced systems with lower greenhouse emission and energy-efficient refrigeration systems. Americold Logistics, Interstate Cold, Preferred Freezer Services, VersaCold Logistics, Agro Merchants Group, Nichirei Corporation, Lineage Logistics Holdings, LLC, Burris Logistics, Swire Cold Storage and Kloosterboer Group B.V. are some of the key players offering solutions in cold chain industry.

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Europe Vertical Farming Market to Witness 21.6% CAGR During 2018–2024

The vertical farming market in Europe was pegged at USD 588.2 million in 2017 and is expected to reach USD 2,298.3 million by 2024. The vertical farming market is poised to grow at a CAGR of 21.6% during the forecast period (2018–2024).

The primary factors aiding the growth of the vertical farming market in the recent years have been the increasing demand for environment-friendly production of fresh fruits and vegetables with no use of pesticides is driving the demand for the vertical farming market in Europe. The demand for organic foods is increasing as it provides more nutrients such as antioxidants than those of conventionally grown counterparts. The consumption of organic food is helping people to lessen their symptoms if they are suffering from allergies to foods or chemicals.

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Moreover, the increasing urban population and reliable production of crops irrespective of climatic change are also fuelling the growth of the vertical farming market. However, high initial costs and restrictions in the variety of crops grown are hampering the growth of this market in Europe.

Vertical farming helps in producing the perfect arrangement of lettuce varieties and growing formulas that help in enhancing the quality and yields of crops. With the implementation of precise growth, formulas will help the manufacturers to achieve an increased yield on their investments. The technique is excessively used in Europe to grow lettuce varieties in order to the efficiency of crop production on a farm. This technique is also helping the manufacturers to effectively lessen radiations and transport associated costs. This technique causes less ecological influence and enables the manufacturer to utilize reduced water and energy than the customary farms. The manufacturers can efficiently utilize their resources and produce significantly more food with minimum consumption of land.

Netherlands is expected to contribute the largest revenue of USD 607.0 million by 2024 in the vertical farming market in this region. In terms of hardware type, lighting is generating the largest revenue for the vertical farming market in this region. Lighting is expected to grow at a CAGR of 22.4% during 2018–2024. On the contrary, lettuce accounted for the largest share in the European vertical farming market.

AeroFarms, Gotham Greens, Bright Farms Inc., Vertical Harvest, Home Town Farms, Infinite Harvest Inc., Lufa Farms Inc., Beijing IEDA Protected Horticulture Co., Ltd., Farmed Here LLC, Garden Fresh Farms CSA, Metropolitan Farms, Green Sense Farms, and Green Spirit Farms are some of the major players operating in the vertical farming market in Europe.

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Global E-cigarette market is Set to Reach USD 53.4 billion by 2024

The global e-cigarette market is expected to grow at a CAGR of 21.4% during the forecast period with its market size predicted to reach USD 53.4 billion by 2024. Increasing cancer cases related to smoking cigarettes, technological advancements in e-cigarettes, increasing disposable income, increasing awareness programs regarding the harmful effects of cigarettes are the major factors leading to the high demand for e-cigarettes in the global market.

Introduction of new flavors and fragrance to increase the traction for vaping devices

The growing popularity of vaping devices has led to the introduction of new flavors and fragrance. Flavors like menthol, mint, chocolate, cola, and different fruits are attracting more and more customers to adopt them. This trend is expected to continue and contribute to the e-cigarette market. Many companies in the industry are taking advantage of the ambiance in the market and getting merged with the tobacco cigarette giants. These companies are working together and making it more economical and efficient. This is further expected to expand the growth of the e-cigarette market across the globe.

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Cig-a-like accounted for almost half of the revenue generated by the market players in 2018. The comparatively lower cost of these e-cigarettes makes them a popular choice among consumers. The cig-a-like e-cigarette market is further segmented into disposable and rechargeable cig-a-like. Among the two types, the market size for disposable cig-a-like is larger across the globe. The vaporizer market is categorized into an open tank and a closed system vaporizer.

North America accounts for the largest demand of e-cigarettes across the globe North America dominates the e-cigarette market due to earlier advancements in the technology of this segment, and high disposable income of citizens of countries such as the U.S. and Canada. Also, the awareness regarding the health hazards of cigarettes is making smokers quit cigarettes and adopt less harmful e-cigarettes. Moreover, the Asia-Pacific is anticipated to witness the fastest growth during the forecast period due to the huge population of the young generation and their inclination towards the e-cigarettes.

The prominent players operating in the e-cigarette market are Turning Point Brands, Inc. (International Vapor Group), British American Tobacco plc, VMR Products LLC, Altria Group Inc., Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, NJOY Inc., Vapor Hub International Inc., and FIN Branding Group LLC.

U.S. E-cigarette market is Set to Reach USD 16.5 billion by 2024

The U.S. e-cigarette market is expected to grow at a CAGR of 18.3% during the forecast period with its market size predicted to reach USD 16.5 billion by 2024. Increasing awareness among consumers regarding the harmful effects of smoking, easy availability of e-cigarettes through supermarkets and vape shops, established e-commerce industries, technological advancements for product innovation, and high prevalence of smoking-related diseases are the major factors leading to the high demand of e-cigarettes in the U.S. market.

The high prevalence of smoking and related diseases to increase the demand for e-cigarettes in the U.S.

The high prevalence of smoking-related diseases in the U.S. leads to initiatives to curb smoking use. As manufacturers have been promoting e-cigarettes as a better alternative to smoking, the initiatives would create traction for the e-cigarettes. According to the Centers for Diseases Control and Prevention (CDC), cigarette smoking is the leading cause of preventable disease and death in the U.S., accounting for more than 480,000 deaths every year, or about 1 in 5 deaths. In 2017, around 34.3 million adults in the U.S. were smokers. These figures illustrate the increasing need for initiatives and alternatives for smoking. E-cigarette manufacturers have long promoted the e-cigarettes as smoking cessation, which is anticipated to drive the market in the coming years.

Cig-a-like hold the largest share in the U.S. e-cigarette market

Based on product the market is categorized into cig-a-like, vaporizer, and vape mode. Of all the products, Cig-a-like accounted for almost half of the revenue generated by the market players in 2018. The comparatively lower cost of these e-cigarettes makes them a popular choice among consumers. The highest growth in the demand for the vape mod has been observed over the last five years which is anticipated to remain the highest among all e-cigarette products during the forecast period. the cig-a-like e-cigarette market is further segmented into disposable and rechargeable cig-a-like. Among the two types, the market size for disposable cig-a-like is larger across the globe. The vaporizer market is categorized into an open tank and a closed system vaporizer.

Browse Market Insight and In-depth TOC on "U.S. E-Cigarette Market – Analysis and Forecast (2019-2024)"

Based on the distribution channel, the e-cigarette market is subdivided into supermarkets, online, vape shops, and tobacconists. In 2018, the majority of e-cigarettes were distributed through vape shops, and the trend is anticipated to remain the same during the forecast period.

Key players may face challenges after FDA reviews the e-cigarettes

Owing to the reported harmful effects of e-cigarettes in some states of the U.S., industry players may face stringent regulations against the promotion and distribution of the e-cigarettes in the country. This will lead to more investment by industry players for developing harmless e-cigarettes and produce better quality products.

Some of the key players operating in the U.S. e-cigarette market are Turning Point Brands, Inc. (International Vapor Group), British American Tobacco plc, VMR Products LLC, Altria Group Inc., Japan Tobacco Inc., Philip Morris International Inc., Imperial Brands plc, Njoy, Inc., Cigavette and FIN Branding Group LLC.

U.S. E-Cigarette Market Coverage

Product Insight and Forecast 2014-2024

• Cig-A-Like
• Vaporizer
• Vape Mod

• Disposable
• Rechargeable

• Open Tank
• Closed System

Distribution Channel Insight and Forecast 2014-2024

• Vape Shops
• Supermarkets
• Online
• Tobacconists

Global Next-Generation Firewall (NGFW) Market is Expected to Reach USD 5.5 Billion by 2025

The global next-generation firewall market is expected to reach USD 5.5 billion by 2025, growing at a CAGR of 12.4% during the forecast period. Introduction of virtual next-generation firewall providing security to the virtual network will be a key opportunity for the global NGFW market in near future.  

Government and public utilities are expected to account the largest market share by 2025

On the basis of industry vertical, the market is segmented into banking, financial services, and insurance (BFSI), retail, IT and telecommunications, government and public utilities, healthcare, energy and utilities, and others. Government and public utilities are expected to account the largest market share by 2025. However, BFSI is expected to grow at the fastest rate during the forecast period.

Geography Insight

Geographically, North America followed by Europe is the largest next-generation firewall market in terms of revenue. Being home of several large economies and financially and technologically advanced region, these regions captures a major market share of NGFW.

Competitive Insight

Some of the key players operating in the next-generation firewall market are Cisco Systems, Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Inc., Barracuda Networks, Inc., Fortinet, Inc., Sonicwall Inc., Zscaler, Inc., Forcepoint LLC, Juniper Networks, Hillstone Networks, Sophos Ltd., and GajShield Infotech (I) Pvt. Ltd.

Key Takeaway from the Report:

• Among all the component, solution segment captures highest market share in 2019.
• Of all the delivery types, a cloud-based firewall is the fastest-growing delivery type in the next-generation firewall market.
• Among all the services, the professional service segment accounted for a larger share in the next-generation firewall market in 2019.
• Among all the organization size, SMEs is expected to accounted for larger market share in 2019
• Of all industry, government and public utilities are expected to account the largest market share by 2025.

The Report Offers:

• Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players
  

Contact Us:

VynZ Research
Call: +91-996-028-8381
Toll-Free (U.S. and Canada): +1-888-253-3960
Email: enquiry@vynzresearch.com
Web: https://www.vynzresearch.com 

Global Security Policy Management Market is Expected to Reach USD 2.7 Billion by 2025

The global security policy management market is expected to reach USD 2.7 billion by 2025, growing at a CAGR of 11.0% during the forecast period. There is a gradual shift of security policy management from regular model to hybrid network Model. Further, government and other regulatory bodies are constantly asking organizations to implement required security policies. This will act as an opportunity for the global security policy management market in near future.  

BFSI and IT & telecom are the sectors expected to account the highest market share by 2025

On the basis of industry, the market is bifurcated into IT & telecom, healthcare, BFSI, manufacturing, energy & power, government, and others. BFSI and IT & telecom are the sectors expected to account the highest market share by 2025 and further grow at fastest rate due to large set of data exchange on regular basis.

Geography Insight

Geographically, North America is the largest security policy management market being early adopter of the technology and large number of IT companies residing in the region. Besides, the region is very much inclined towards the implementation of required security regulations and compliance. As a result, North America security policy management market will keep on growing in the years to come.

Competitive Insight

Some of the key players operating in the security policy management market are Cisco Systems, Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Inc., Micro Focus International plc, McAfee, LLC, HelpSystems, LLC, AlgoSec, Juniper Networks, FireMon, LLC, and Tufin.

Key Takeaway from the Report:

• Among all the component, solution segment captures highest market share in 2019.
• Of all the organization size, large enterprises accounted for the foremost share in the security policy management market in 2019.
• Among all the applications, the network policy management segment accounted for a foremost share in the security policy management market in 2019.
• Of all industry, BFSI and IT & telecom are the sectors expected to account the highest market share by 2025.

The Report Offers:

• Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players