Smart Building Market research report by MarketsandMarkets Forecast by 2022

According to recent market research report on “Smart Building Market by Type (Building Automation Software, Services), Building Type (Intelligent Security System, Building Energy Management System, Infrastructure Management, and Network Management System), and Region – Global Forecast to 2022″, The smart building market is expected to grow from an estimated USD 7.42 Billion in 2017 to USD 31.74 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 33.7% from 2017 to 2022.

The market is primarily driven by the growing demand for integrated security and safety systems and increasing government initiatives for smart building projects.

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Based on type, the services segment is expected to witness the highest growth rate during the forecast period

Based on type, the services segment is projected to grow at the highest CAGR during the forecast period. This is due to the reason that service providers help in implementing intelligent automation and technologies for the efficient operation and maintenance of buildings in a cost-effective manner. The services included in the smart building market study are training & consulting, integration, and support offered by various vendors in this market. These services are considered as added offerings from technology vendors and services providers in the smart infrastructure ecosystem, which enhance the deployment and usage of solutions at end user premises.

Based on building type, the residential building segment is expected to grow at the highest CAGR during the forecast period

Based on building type, the residential building segment is expected to grow at the highest CAGR due to the ability of communication standards and protocols to integrate various control devices and minimize the use of wires due to the emergence of wireless technologies.

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Based on region, Europe is expected to account for the largest market share in the smart building market during the forecast period from 2017 to 2022

Europe is expected to account for the largest market share during the forecast period due to the increased initiatives by the region’s governments to build smart and intelligent structures. Also, the increase in the adoption of energy management as well as security solutions has led to the growth of the smart building market across regions.

The report encompasses the competitive landscape, which presents the positioning of 25 key vendors of smart building solutions and services, based on their product offerings and business strategies. Some of the major solution and service vendors include the ABB Group (Switzerland), Siemens AG (Germany), Schneider Electric (France), Cisco Systems, Inc. (US), International Business Machines Corporation (US), Delta Controls (Canada), Johnson Controls (US), Honeywell International Inc. (US), United Technologies Corporation (US), Legrand (France), BuildingIQ (US), Echelon Corporation (US), Hitachi, Ltd. (Japan), and Panasonic Corporation (Japan) among others.

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Cloud Services Brokerage Market Projected to reach $15.03 Billion by 2023

According to market research report “Cloud Services Brokerage Market by Service Type (Catalog Management, Workload Management, Operations Management), Platform (Internal Brokerage, External Brokerage), Deployment Model, Organization Size, Vertical, and Region – Global Forecast to 2023″, The Cloud Services Brokerage (CSB) market is expected to grow from USD 6.78 Billion in 2018 to USD 15.03 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period.

An increasing adoption of hybrid IT and multi-cloud management is expected to drive the CSB market. Moreover, the effective pricing done through a cloud broker budgeting offers a proper alignment of resources, discount policies for customers, and shape a demand based on consumption. This is expected to further fuel the demand for CSB among the end-users.

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The workload management segment is expected to grow at the highest CAGR during the forecast period

Based on service type, the CSB market has been segmented into operations management; catalog management; workload management; integration, reporting and analytics; security and compliance, and training and consulting. The workload management segment is expected to grow at the highest rate during the forecast period. A cloud service broker enables organizations to assess which on-premises workloads are cloud-ready, and assists the organizations in moving cloud workloads among different CSPs based on price and other associated factors. The migration of workloads seems challenging for organizations, and the brokers help in addressing the challenge by providing workload management services.

The external brokerage enablement segment is expected to grow at a considerable CAGR during the forecast period

Based on platform, the cloud services brokerage market has been segmented into internal brokerage enablement and external brokerage enablement. The external brokerage enablement segment provides a multi-tenant cloud delivery and management platform to telecom service providers, distributors and Value-Added Resellers, and cloud providers that help in providing various services, enablement of channels, and management of administration activities. The enablement platform also collaborates various cloud service offerings on a common platform. The external brokerage enablement segment is expected to grow, due to various business benefits and opportunities that it offers to technology and service providers.

The SMEs segment is expected to grow at a higher CAGR during the forecast period

Based on organization size, the CSB market has been segmented into large enterprises and Small and Medium-sized Enterprises (SMEs). The SMEs segment is expected to grow at a higher CAGR during the forecast period, as SMEs face greater resource crunch than larger enterprises and require better methods to solve the complexities of cost optimization of their business processes. Cloud services have become a central part of the business processes in SMEs, due to cost efficiency, ease of use, and the flexibility offered. The CSBs enable SMEs to have a strict control on their cloud needs and service provisioning. This is expected to fuel the demand for CSB over the next 5 years.

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North America is expected to dominate the cloud services brokerage market during the forecast period

The global CSB market by region has been segmented into North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to have the largest market size in 2018, owing to the presence of several vendors and rapid adoption of cloud-based solutions in this region. The market in APAC is expected to grow at the highest CAGR during the forecast period, owing to the increase in awareness and adoption of cost-effective and scalable CSB.

The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to increase their shares in the market. Major technology vendors in the cloud services brokerage market include Accenture (Ireland), DoubleHorn (US), Jamcracker (US), IBM (US), HPE (US), RightScale (US), Dell (US), Wipro (India), Arrow Electronics (US), ActivePlatform (Belarus), Cloudmore (Sweden), InContinuum (Netherlands), DXC Technology (US), Cognizant (US), BitTitan (US), Nephos Technologies (UK), OpenText (Canada), ComputeNext (US), CloudFX (Singapore), Fujitsu (Japan), Tech Mahindra (India), Atos (France), Cloudreach (UK), Neostratus (Hungary), and Proximitum (UK).

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HR Analytics Market will expected to reach $3.6 billion by 2024

According to new market research report “HR Analytics Market by Component, Application Area (Workforce Management, Recruitment, and Employee Development), Organization Size, Deployment Type, Vertical (BFSI, Manufacturing, and IT and Telecom), and Region – Global Forecast to 2024″, is expected to grow from USD 1.9 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.

The increasing demand to automate HR processes, scaling HR personnel effort with the help of advanced technologies, and growing need to enhance workforce engagement are some of the major factors driving the growth of the HR analytics market.

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The workforce management segment to hold the largest market size during the forecast period

The workforce management application area is widely adopted across verticals, owing to the need to place right people at right job for meeting business objectives. Labor is one of the biggest expenses to be bared by organizations. The use of HR analytics enables organizations to predict and forecast an accurate number of employees required to complete a particular job. Enterprises employ the HR analytics solution for standardizing processes across varied departments. The adoption of the HR analytics solution enables organizations to increase employees’ productivity, performance, and satisfaction.

The Banking, Financial Services, and Insurance (BFSI) vertical to hold the largest market size during the forecast period

The BFSI vertical is undergoing massive disruption, due to regulatory changes and competitive pressures. It is facing unique challenges, such as low-profit margins, information security threats, and compliance requirements. The challenges encourage the BFSI vertical to adopt HR analytics for aligning workforce to streamline operations and minimizing workforce costs. With the advent of mobile technology, customer preferences and behavior are changing. Enterprises are emphasizing on adopting the HR analytics solution to boost the performance of their sales employees and marketing representatives. The solution leads to better customer satisfaction and engagement.

The solution segment to hold a larger market size during the forecast period

The HR analytics solution has a wide scope of usage among enterprises, as it assists businesses in managing different applications, such as payroll, retention, recruitment, workforce management, employee engagement, and employee development. This has created opportunities for vendors to provide the HR analytics solution to enterprises across different verticals and help them in managing complex functions, such as recruiting, on-boarding, and training of employees.

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North America to hold the largest market size during the forecast period

North America is estimated to account for the highest market share in 2019. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. The North American region houses key industry players offering HR analytics solution and services. Its financial position enables it to invest majorly in leading solutions and technologies for effective business operations.

The key vendors in the HR analytics market are Oracle (US), SAP (Germany), Infor (US), Workday (US), Sage Software (UK), Kronos (US), MicroStrategy (US), IBM (US), Tableau (US), Zoho (India), Crunchr (Netherland), Visier (Canada), TALENTSOFT (Paris), GainInsights (India), and Sisense(US).

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Application Transformation Market will expected to reach $16.8 billion by 2024

According to new market research report “Application Transformation Market by Service (Cloud Application Migration, Application Replatforming, Application Integration), Organization Size, Vertical (Retail, IT & Telecom, Government, Healthcare, Manufacturing), and Region – Global Forecast to 2024″, The global application transformation market size to grow from USD 9.7 billion in 2019 to USD 16.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.6% during 2019–2024.

The emergence of cloud and big data technologies has taken the transformation process to a new and advanced level. The enterprises are striving to achieve a competitive advantage, which can be achieved with the application transformation process in place. The constant need to be updated with new technologies and enhance the Return on Investment (RoI) requires a scientific approach and agile methodology to mitigate the key risks and challenges involved in the existing legacy applications. These factors are expected to drive the global application transformation market.

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Application integration service to account for the highest market share during the forecast period

Application integration is the process of integrating one or more application program’s data or processes with that of other application programs. The existing legacy applications can be integrated into new applications, which leverage the internet, eCommerce, extranet, and other new technologies. Application integration assists in the maintenance and presentation of the data in various application systems, which are synchronized. It can connect to backend application systems to retrieve and insert data. Application integration is necessary for organizations to optimize their IT landscapes, gain business agility, and easily access data from devices and social channels

Large enterprises to account for a higher market share during the forecast period

Large enterprises are defined as business entities employing over 1,000 employees. The adoption of application transformation in large enterprises is high, and the trend is expected to continue during the forecast period. The large enterprises are keen to invest in new and latest technologies to run their business effectively. These enterprises are modernizing their legacy applications to reduce their Capital expenditure (CapEx) and Operating expense (OpEx). The enterprises have dedicated in-house Information Technology (IT) resources with large IT budgets, therefore, can consider deploying a variety of application modernization strategies.

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North America to account for the highest market share during the forecast period

The US accounts for the highest market share in the application transformation market. The US and Canada are also the leading countries in retail, financial services, banking, and other industries, such as transportation and manufacturing. The US is expected to have the highest market share among all the countries in the application transformation market during the forecast period. It is a technologically advanced country with strong regulations for various verticals.

Major vendors in the global application transformation market include Atos (France), Tech Mahindra (India), Fujitsu (Japan), HCL (India), Cognizant (US), Pivotal Software (US), Accenture (Ireland), IBM (US), TCS (India), Asysco (Netherlands), Unisys (US), Hexaware (India), Oracle (US), Micro Focus (UK), Bell Integrator (US), and Macrosoft (US).

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Research Report On Cloud Project Portfolio Management Market By Region, Application, Organization Size

According to new market research report on“Cloud Project Portfolio Management Market by Application (Portfolio Management, Resource Management, Demand Management, Financial Management, Project Management), Deployment Model, Organization Size, Vertical, and Region – Global Forecast to 2022″, The cloud PPM market size is expected to grow from USD 2.97 Billion in 2017 to USD 5.79 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.3% during the forecast period.

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The significant drivers of this market incorporate expanding pattern of Bring Your Own Device (BYOD) and use of cell phones and requirement for coordinated cloud-based arrangements. The cloud-based PPM arrangements help to control the expense related with projects and streamline them.

The project management application is required to rule the cloud PPM market amid the gauge time frame.

The project management application is evaluated to have the biggest market share in the cloud PPM market amid the gauge time frame. The utilization of cloud in the PPM procedure encourages steady project execution, robotized consistence with worker and industry guidelines, improved asset use and diminished asset holes, expanded project perceivability, workforce beneficial, and operational viability. These advantages are expanding the interest for cloud PPM answer for project management.

Government and open division is relied upon to have the biggest market share amid the estimate time frame.

The legislature and open division in the cloud PPM market is relied upon to have the biggest market share amid the figure time frame. This segment is dependably looking for instruments that meet spending requirements and are adaptable to handle mechanical changes with the progression of time. Besides, meeting the client desire is another significant test looked by the administration organizations. Consequently, to address such difficulties, associations have executed PPM answers for streamline business forms.

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North America is driving as far as market share in the cloud PPM marketspace

North America is required to hold the biggest market share and overwhelm the cloud PPM market amid the figure time frame. Remote openness, simple usage, minimal effort, and massive versatility are a portion of the real driving variables for the move from customary PPM programming to cloud PPM in this locale.

The significant players in the cloud PPM market incorporate CA Technologies (New York, U.S.), HPE (California, U.S.), Changepoint Corporation (Richmond Hill, Ontario), Clarizen, Inc. (California, U.S.), Microsoft Corporation (Washington, U.S.), Mavenlink (California, U.S.), Oracle Corporation (California, U.S.), lanisware (California, U.S.), ServiceNow, Inc. (California, U.S.), SAP SE (Walldorf, Germany), Upland Software (Texas, U.S.), and Workfront, Inc. (Utah, U.S.).

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Global $120.68 Billion Workplace Services Market 2022 by End -user Outsourcing services, Tech Support Services

According to new market research report on“Workplace Services Market by End-User Outsourcing Services (Managed Communication and Collaboration Services, Managed Mobility Services, Managed IT Asset Services), Tech Support Services, Organization Size, Vertical, and Region – Global Forecast to 2022″, Workplace services covers the managed services adopted for workplace. The workplace services market size is expected to grow from USD 71.53 Billion in 2017 to USD 120.68 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period.

The interest for workplace services is driven by the commoditization of workplace services, quantifiable business esteem offered by workplace services, exchanging the weight of consistence to workplace services suppliers, and the upgraded capacity to concentrate on center business capabilities for the associations. The workplace services market is relied upon to pick up a noteworthy footing amid the estimate time frame.

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The oversaw IT resource services portion is required to contribute the biggest market share amid the figure time frame.

The oversaw IT resource services fragment is relied upon to hold the biggest market share amid the gauge time frame. IT resource the executives deals with the total equipment and programming life cycle. In a time of the combination of business, IT, and cloud, keeping up a creative IT condition is basic for framework heads. It is imperative for associations to redistribute the IT resource the board services wisely to accomplish IT operational effectiveness, long haul resource the executives, and reviewing, consistence, and monetary responsibility. The extent of the oversaw IT resource services incorporates oversaw print services, oversaw work area services, and oversaw reinforcement and catastrophe recuperation services.

Human services and life sciences vertical is relied upon to develop at the most noteworthy CAGR amid the gauge time frame

The medicinal services and life sciences vertical is anticipated to develop at the most elevated CAGR amid the conjecture time frame. Innovation has acquainted huge changes with the medicinal services and life sciences workplace. As new IT displays give a stage to developing new social insurance plans of action, association, correspondence, and joint effort assume vital jobs in upgrading treatment results. Players in the social insurance and life sciences vertical are re-appropriating workplace services, with the goal that they can concentrate more on their center business and most vital resources, the general population.

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North America is relied upon to contribute the biggest market share, while Asia Pacific to develop at the most astounding CAGR amid the estimate time frame.

North America is relied upon to hold the biggest market share and overwhelm the worldwide workplace services market from 2017 to 2022. The area has been receiving the most recent innovative headways, for example, oversaw UCC, oversaw IT resource services, oversaw work area services, and technical support services. The real development drivers in this area are quick change in working conditions and high system transfer speed. In North America, numerous organizations have embraced adaptable working conditions wherein their representatives and clients can get to business applications and corporate information whenever, from anyplace, utilizing any gadget, rather than being in office for fixed work timings. The Asia-Pacific district is in the underlying development stage; be that as it may, it is the quickest developing locale in the worldwide workplace services. About 40% of the world’s worldwide workforce dwells in China, and India has an exceptionally vast pool of gifted workforce. In Australia, because of the expanded idea of organizations, 1 out of each 5 workplaces is spread over the globe, which makes a tremendous interest for workplace services in this locale.

The significant sellers giving workplace services are DXC Technology (US), Wipro (India), IBM (US), TCS (India), Atos (France), NTT DATA (Japan), HCL (India), Fujitsu (Japan), CompuCom (US), Cognizant (US), Unisys (US), Accenture (Ireland), Capgemini (France), T-Systems (Germany), Zensar (India), Getronics (the Netherlands), Computacenter (UK), Infosys (India), Tech Mahindra (India), Pomeroy (US), Insight Enterprises (US), Genpact (Bermuda), Long View Systems (Canada), Microland (India), and C3i (US).

Service Market for Data Center will transcend $77.51 Billion by 2022

According to market research report “Service Market for Data Center by Service Type (Design & Consulting, Installation & Deployment, Professional, Training & Development, Maintenance & Support), Tier Type, End-User, Data Center Type, Industry, and Region – Global Forecast to 2022″, the service market for data center is estimated to grow from USD 39.68 Billion in 2017 to USD 77.51 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.33%.

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The major forces driving the service market for data center are growing data traffic, increasing complexities within data centers, higher demand for cost effectiveness, and surge in data center technology related spending within organizations. The service market for data center is growing rapidly owing to the increasing number of users opting for services that can help with the increasing data center availability by reducing downtimes.

Training and development services are expected to grow at the highest CAGR

The training and development services segment is expected to witness the highest CAGR during the period 2017 to 2022. Training and development services help organizations in improving data center performance through educational programs. Moreover, these services help in transforming enterprise IT while reducing cost. These benefits are driving the market and are anticipated to help in propelling the service market for data center to grow at the highest CAGR during the forecast period.

Tier 1 type market is expected to grow at the highest rate during the forecast period

The tier 1 type segment is expected to grow at the highest CAGR during the forecast period owing to the rapid adoption of tier 1 data center in small enterprises. Tier 1 data centers are characterized by single non-redundant connections to hardware equipment, including power and cooling distribution units. Moreover, small enterprises have lower data availability requirements, and tier 1 data centers are an economical option for these types of enterprises owing to which tier 1 data centers are witnessing growing demand from small enterprise

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North America is expected to dominate the service market for data center during the forecast period

The service market for data center segments the global market on the basis of regions which includes North America, Asia-Pacific (APAC), Europe, Middle East & Africa (MEA), and Latin America. North America is expected to hold the largest share of the service market for data center in 2017, owing to the presence of a large number of data center across various industry verticals in this region. The market in APAC is expected to grow at the highest CAGR between 2017 and 2022. The primary driving forces for this growth are increasing data center traffic, owing to the surge in mobile devices in this region.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by the major players to increase their share in the market. Some of the major technology vendors include HPE (U.S.), IBM (U.S.), Schneider Electric SE (France), Cisco Systems, Inc. (U.S.), Dell, Inc. (U.S.), Fujitsu Ltd. (Japan), Vertiv Co(U.S.), Hitachi Ltd. (Japan), Equinix, Inc. (U.S.), and Huawei Technologies Co. Ltd. (China).

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Intellectual Property Rights & Royalty Management Market will grow $12.68 Billion by 2021

According to new market research report “Intellectual Property Rights & Royalty Management Market by Solution (Standalone and Integrated), Deployment Mode (On-Premises and Cloud/Hosted), Organization Size (Large Enterprise and SMEs), Vertical, & Region – Global Forecast to 2021″, The intellectual property rights & royalty management is estimated to grow from USD 4.28 Billion in 2016 to USD 12.68 Billion by 2021, at a CAGR of 24.2% from 2016 to 2021.

The major forces driving the intellectual property rights & royalty management are increasing need for protection of IP assets from duplicity & monetizing the assets and continue need for the upgradation of IP rights & royalty solution from user.

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The cloud/hosted segment is expected to grow at a higher CAGR during the forecast period

The IP rights & royalty management market by deployment type is segmented into cloud/hosted and on-premises. Cloud/hosted type is expected to grow at the fastest rate during the forecasting period. This is due to increase in the usage of various broadcasting or distribution sources like smartphones and mobile apps.

In terms of organization size, the large enterprises segment is expected to grow at a higher CAGR during the forecast period

The organization size segment in the intellectual property rights and royalty management market comprises of SMEs and large enterprises. The large enterprises segment is projected to grow at a higher CAGR during the forecast period.

The education segment to grow at the highest CAGR during the forecast period based on vertical

The education segment is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the increasing deployment of digital education and several initiatives taken by governments to promote the E-learning across the world.

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North America is expected to dominate the Intellectual Property Rights & Royalty Management during the forecast period

The geographical analysis of the IP rights & royalty market mainly explores the division into solutions type across the five major regional markets, such as North America, APAC, Europe, Latin America, and MEA. The North American region is largely investing in the adoption of intellectual property rights & royalty management solutions in order to protect their innovations and assets across various verticals like healthcare & life sciences, IT & telecom etc.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their share in the market. Some of the major technology vendors include, Fadel (U.S.), Klopotek AG (Germany), Vistex, Inc. (U.S.), FilmTrack (U.S.), IBM Corporation (U.S.), Anaqua, Inc. (U.S.), Lecorpio (U.S.), CPA Global (Jersey), IPfolio (U.S.), and Dependable Solutions (U.S.),

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Network Management System (NMS) Market expected to grow marketshare $10.20 billion by 2023

According to recent market research report “Network Management System (NMS) Market by Component (Solutions (Standalone and Bundled), and Services), Deployment Type (Cloud and On-premises), End-Users (Verticals and Service Providers), Organization Size, and Region – Global Forecast to 2023″, The global NMS market size is expected to grow from USD 6.17 billion in 2018 to USD 10.20 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period.

The major growth drivers for the market include in-depth visibility into network security, the need of maintaining Quality of Experience (QoE) and Quality of Service (QoS), the global growth of network infrastructure, and the better optimization of business operations.

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SMEs segment is expected to show the highest growth rate during the forecast period

In the NMS market by organization size, the SMEs segment is expected to show the highest growth rate during the forecast period. Nowadays, SMEs are focusing more on NMS solutions to streamline their network infrastructure and enhance their business functions. They are also facing several challenges related to network management, due to the increasing complexity of network infrastructure and the growing network traffic.

Healthcare vertical is expected to show the highest CAGR during the forecast period

In the NMS market by vertical, the healthcare vertical is expected to grow at the highest CAGR during the forecast period. The connectivity to the internet has also become a must, as mobility is an essential part of efficient and accurate care delivery. The NMS system offers uninterrupted connectivity to healthcare specialists, thus improving their service delivery efficiency. Moreover, certain regulatory norms, such as Health Insurance Portability and Accountability Act (HIPAA), are also responsible for the increasing deployment of NMS solutions in the healthcare vertical. These regulations require the healthcare providers to protect the confidential patient information, which is one of the major benefits of using NMS solutions.

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North America is expected to hold the largest market size duringthe forecast period

North America is expected to hold the largest market size in the global NMS market. The region is the mature market comprising the US and Canada. These countries dominate the global NMS market with the developed economies, empowering them to strongly invest in Research and Development (R&D) activities for the development of new technologies.

Key players in the global NMS market include Accedian (Canada), AppNeta (US), BMC Software (US), CA Technologies (US), Cisco (US), Colasoft (China), Cubro Network Visibility (Austria), ExtraHop Networks (US), Extreme Networks (US), Flowmon Networks (Czech Republic), HelpSystems (US), IBM (US), Ipswitch (US), Juniper Networks (US), Kaseya (Ireland), Kentik (US), LiveAction (US), ManageEngine (US), Micro Focus (UK), NETSCOUT (US), Nokia (Finland), Paessler (Germany), Riverbed Technologies (US), SevOne (US), SolarWinds (US), and VIAVI Solutions (US).

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IP Multimedia Subsystem (IMS) Market will expected to surpass $3.71 billion by 2023

According to market research report “IP Multimedia Subsystem (IMS) Market by Component (Product and Service (Professional and Managed Service)), Telecom Operator (Mobile and Fixed Operators), and Region (North America, Europe, APAC, MEA, and Latin America) – Global Forecast to 2023″, The IP Multimedia Subsystem (IMS) market size is expected to grow from USD 1.79 billion in 2018 to USD 3.71 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period.

Low Capital Expenditure (CAPEX) and Operational Expenses (OPEX), increase in the Long-Term Evolution (LTE) mobile subscribers across the globe, and the growth of the network infrastructure are some of the major factors driving the IMS market.

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Services segment is expected to be the faster-growing segment during the forecast period.

Among components, the services segment is expected to hold the larger market share during the forecast period. The overall services segment has a major influence on the IMS market’s growth. IMS services assist enterprises in reducing costs, lowering operational costs, increasing the overall revenues, and improving the business performance.

Mobile operator segment is expected to be a faster-growing segment during the forecast period.

Under the telecom operators, the mobile operators segment is expected to hold the larger market share and projected to grow a higher CAGR during the forecast period. Mobile operators face several challenges, such as updating the legacy systems to meet the current demands for end-customers, intense competition, high CAPEX and OPEX, and low Return on Investment (RoI). Hence, telecom operators seek scalable and cost-effective solutions. This is expected to be the key reason for the rapid adoption of IMS solutions and services by telecom operators.

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North America is expected to account for the largest market size and Asia Pacific to grow at the highest CAGR during the forecast period.

Among all regions, North America is expected to account for the largest market size during the forecast period, followed by Europe. North America is the house of big telecom giants. Mobile operators are rolling out new use cases, such as Rich Communication Services (RCS), Private LTE and wireless broadband using their networks. The US government has planned to roll out the Citizens Broadband Radio Service (CBRS) band for private operators and enterprises, in 2018, which would act as a catalyst for the growth of the IMS market. Hence, North America is expected to account for the largest market share in the global IMS market during the forecast period.

The APAC region is expected to register strong growth in the coming years, as the majority of the mobile and fixed operators in the APAC region are still using traditional IMS solutions. However, this trend is expected to change, as operators would eventually shift toward virtualized and cloud-based solutions.

The key and emerging vendors in the IMS market include Ericsson (Sweden), Huawei (China), NEC (Japan), Nokia (Finland), ZTE (China), Athonet (Italy), Cirpack (France), Cisco (US), CommVerge Solutions (China), Dialogic (US), Interop Technologies (US), Italtel (Italy), Metaswitch (UK), Mavenir (US), Oracle (US), Radisys (US), Ribbon Communications (US), Samsung (South Korea), and WIT Software (Portugal).

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