Philippines Remittance Market Segmented On The Basis Of Transfer, Type, Channel, End-use And Forecast 2028: Grand View Research Inc.

San Francisco, 10 Oct 2023: The Report Philippines Remittance Market Size, Share & Trends Analysis Report By Mode Of Transfer (Digital, Traditional (Non-digital)), By Type, By Channel (Banks, Online Platforms (Wallets)), By End Use, And Segment Forecasts, 2022 – 2030

The Philippines remittance market size is expected to reach USD 1.84 billion by 2030, growing at a CAGR of 13.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the initiatives taken by the Philippines government, such as financial literacy programs and the adoption of the ‘International Day of Family Remittances’. Furthermore, the increasing adoption of banking services across the country is another major factor expected to create new growth opportunities for the Philippines remittance industry.

According to the World Bank Group, it is expected that remittances to Low- and Middle-Income Countries (LMICs) will increase by 4.2% in 2022, reaching USD 630 billion. This comes on the heels of a near-record recovery of 8.6% in 2021, thereby expected to drive the growth of the industry. Moreover, the huge number of Overseas Filipino Workers (OFWs) employed in several countries are also contributing to the growth of the market. For instance, according to Philippines Statistics Authority, the total number of OFWs was estimated at 1.77 million from April to September 2020.

Additionally, the Philippines-based remittance service providers are continuously implementing new technologies, such as the integration of blockchain technology in the remittance platform for faster money transfers. For instance, in August 2022, a blockchain infrastructure company called Roxe announced its partnership with Cebuana Lhuillier, a money transfer service provider. This partnership aimed to enable clients in the Philippines to execute seamless cross-border remittance payments by combining Cebuana Lhuillier’s extensive fund distribution methods and the Roxe blockchain network.

During the COVID-19 pandemic, the lockdown was imposed, which shifted people’s attention towards digital means and technology. However, at the same time, in October 2020, ING and UNICEF introduced the ‘Fintech for Impact’ initiative to support fintech start-ups across the country. The top five start-ups, including BeamAndGo Pte Ltd, were chosen to receive equity-free financing as well as technical and commercial mentoring from ING, UNICEF, and other professionals for a year.

The selection of BeamAndGo was anticipated to the addition of functionality of helping migrants and their families to make responsible spending decisions for the household and manage their finances through its non-cash remittance services. Hence, such initiatives proved to be helpful for market growth during the COVID-19 pandemic.

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Philippines Remittance Market Report Highlights

• The digital segment is expected to register the fastest growth during the forecast period. The growing internet penetration among Filipinos can be attributed to the segment’s growth
• The inward remittance segment dominated the market in 2021, attributed to the high migration rate of Filipinos in search of better job opportunities
• The online platforms (wallets) segment is expected to witness the fastest growth over the forecast period. The developing infrastructure for online money transfer across the country is one of the major factors anticipated to drive the segment’s growth
• The personal segment is expected to witness the fastest growth over the forecast period, attributed to the growing use of remittance platforms for sending money for household purposes

Philippines Remittance Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 0.68 billion
Revenue forecast in 2030	USD 1.84 billion
Growth rate	CAGR of 13.3% from 2022 to 2030
Base year of estimation	2021
Historical data	2017 – 2020
Forecast period	2022 – 2030

List of Key Players in the Philippines Remittance Market

• PayPal Holdings, Inc.
• Worldremit Group Limited
• Union Bank of the Philippines
• The Western Union Company
• MoneyGram International, Inc.
• Cebuana Lhuillier
• LBC Express Holdings
• MLhuillier
• Palawan Pawnshop
• RD Pawnshop

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Augmented Reality & Virtual Reality In Manufacturing Market Segmented On The Basis Of Component, Technology, Device, Application, Region And Forecast To 2030: Grand View Research Inc.

San Francisco, 9 Oct 2023: The Report Augmented Reality & Virtual Reality In Manufacturing Market Size, Share & Trends Analysis Report by Component (Hardware, Software, services), By Technology, By Device, By Application, By Region, And Segment Forecasts, 2023 – 2030

The global augmented reality & virtual reality in manufacturing market size is anticipated to reach USD 62.71 billion by 2030, growing at a CAGR of 28.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth over the next eight years as more manufacturing industries have incorporated AR & VR in their production processes. The AR VR technology in manufacturing is used for training the workforce, test safety & error detection, and quality assurance, among others. The advancements in 3D technology and the combination of Artificial Intelligence (AI) with VR give development prospects to the market, especially in the automation and manufacturing businesses. Therefore, all these factors impact the growth of augmented reality and virtual reality in the manufacturing market positively.

The applications in manufacturing, such as product design & development, training in the industrial environment, and remotely conducting repair & maintenance tasks, demand the use of AR VR technology due to its convenience, low operational costs, and better proficiency. Organizations are adopting cutting-edge gadgets with the latest technologies, such as sensors for gesture input, eye tracking, motion tracking, spatial sound, and voice support. Therefore, adopting the latest devices and software compatible with AR and VR offers manufacturers various applications. Hence, the wide range of usage of AR VR in manufacturing is expected to create market demand.

The growing popularity of augmented and virtual reality technologies for industrial end-use is expected to drive market growth for the forecasted period. In recent years, there has been a significant increase in the demand and popularity of augmented reality and virtual reality headsets due to technological advancements in capturing images and sounds. The incorporation of VR headsets in industries for vivid applications creates market opportunities. For instance, the National Aeronautics and Space Administration (NASA) deployed VR expertise to provide a Virtual Space Station (VSS), collaborative computer-delivered treatment programs, and collaborative behavioral health training.

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Augmented Reality & Virtual Reality In Manufacturing Market Report Highlights

• The hardware segment accounted for over 57% of the total revenue share in 2021 owing to the adoption of AR VR devices in manufacturing end-use
• The augmented reality segment is expected to record a revenue of over USD 41.00 Billion in 2030, due to its wide range of applications in manufacturing processes
• The handheld devices segment is expected to grow at the highest CAGR of 29.3% from 2022 to 2030 owing to the advantage of portability offered by handheld devices
• The product design and development segment accounted for the highest revenue share of around 51.0% in 2022 the reason being the high penetration of AR VR in product design and development
• Asia Pacific is expected to register the fastest growth over the forecast period due to the fast adoption of AR VR technology among a large base of manufacturers in the region

Augmented Reality & Virtual Reality In Manufacturing Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 10.98 billion
Revenue forecast in 2030	USD 62.71 billion
Growth Rate	CAGR of 28.3% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 – 2021
Forecast period	2023 – 2030

List of Key Players of Augmented Reality (AR) & Virtual Reality (VR) In Manufacturing Market

• Microsoft Corporation
• Google LLC
• Samsung Group
• Vuzix Corporation
• SkillReal
• Ediiie
• EON Realty, Inc.
• Kaon Interactive Inc.
• Worldviz, Inc.
• SoluLab
• ESI Group

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Virtual Production Market Focusing On The Basis Of Component, Type, End-User, Region And Forecast 2028: Grand View Research Inc.

San Francisco, 6 Oct 2023: The Report Virtual Production Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Type, By End-user, By Region, And Segment Forecasts, 2023 – 2030

The global virtual production market size is expected to reach USD 6.78 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 18.2% from 2023 to 2030. The rising popularity of virtual production in the media and entertainment industry, combined with its capabilities to create high-definition visuals and real-time virtual environments, is the key factor propelling the growth of the market.

The technology enables filmmakers to reduce the demand for on-set production teams and crew members by integrating virtual background environments into live-action footage. This allows for a significant reduction in video production costs. For instance, in 2020, after the covid-19 pandemic, filmmakers in the Hollywood industry found the hi-tech solution of shooting without gathering 100s of people on set. The use of techniques such as cloudbusting, stagecraft LED setup, and robotic camera to shoot actors remotely, known as the Solo Cinebot has helped the filmmaker a lot. Technological advancement in virtual production helps broadcasters improve their operational efficiency with the least physical presence of technicians in the broadcasting room.

For instance, in March 2020, Sky Sports implemented a virtual production suite, which has enabled its teams to create content and stream it remotely. The suite connected 48 virtual workstations and an equal number of direct-to-workstation connections for remote editing, simultaneous live programming, and the distribution of live clippings directly on social media platforms. Although virtual production can produce a film with better visuals and low production costs, it also poses some challenges, especially from the lack of training and experience among industry professionals.

For instance, in May 2022, Mo-Sys Academy, a manufacturer of virtual production solutions in the U.K. announced the launch of a new virtual production course. This course intends to close the skills gap in the virtual production sector, which is experiencing a surge in demand for trained technicians.

With the advent of artificial intelligence, virtual production technology has witnessed significant improvements in the quality of its computer-generated graphics. Design and visualization of all complex scenes in a three-dimensional model have become convenient, further editing and reviewing in a real-time environment. The technology positively impacts the market by reducing the transportation and logistics costs of crew members and equipment. It enables filmmakers to capture on-set live-action scenes through simul-cams or virtual cameras and seamlessly merge computer-generated 3D graphic elements with the film’s live-shooting footage to conclude with the final visual effects.

The evolution of VFX technologies and the growth of animation are boosting the entertainment industry. For instance, in July 2022, Netflix, a subscription streaming service and production company in the U.S. announced a plan to acquire Animal Logic, an Australian animation, and visual effects digital studio. This initiative will help Netflix accelerate its efforts to develop end-to-end animation production capabilities.

Furthermore, artificial intelligence facilitates pre-production support that helps to accelerate video production work. In the previous decade, pre-production works heavily relied on unstructured box office data and limited demographic information related to viewers, leading to less engaging video content development. However, now artificial intelligence can generate insights from large data sets collected from various platforms to understand the proposed content’s acceptance and interest.

For example, Netflix creates video content based on accurate, personalized recommendations and observations of its users’ behavior, such as surfing history, claims, and data actions like pausing or rewinding videos. Also, in April 2021, the company decided to invest USD 17 billion to create a dedicated database to develop original content based on its platform’s collected data. Artificial intelligence technology can also help understand scripts and screenplays to recognize the locations described and suggest real-world locations where directors can imagine and create realistic computer graphic imagery locations.

The growing implementation of virtual production in the gaming industry also works well for the market. Factors such as leveraging a three-dimensional environment, increased focus of companies on developing compact and comfortable virtual gaming devices, and constant technological innovation on virtual production platforms, such as 3D audio, untethered virtual reality headsets, and cloud scalability, are expected to drive market growth across gaming applications.

Furthermore, introducing an immersive experience allows for 360° views of graphic content and a new level of gaming interaction, enabling players to control and modify the gaming environment through their senses. This made the interaction with the video games smoother for the player. Hence the increased application of virtual production technology in games is expected to propel the growth of the market.

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Virtual Production Market Report Highlights

• In terms of end-user, the movie segment is expected to contribute a significant amount of revenue to the market over the forecast period. The growth can be attributed to the rising demand for visual effects and a three-dimensional model in movies
• In terms of components, the software segment is expected to grow at a significant rate owing to the inclusion of artificial intelligence. The inclusion is expected to improve the performance of animation and graphics quality
• The North American region holds the maximum revenue share of 37.0% in 2022. The growth is attributable to the increasing adoption of advanced VFX and virtual production technologies coupled with the high implementation of virtual production by leading regional film studios, such as Viacom CBS, Walt Disney Studios, NBC Universal, and Warner Media.

Virtual Production Market Report Scope

List of Key Players in the Virtual Production Market

• 360Rize
• Adobe
• Arashi Vision Inc. ( Insta 360)
• Autodesk Inc.
• BORIS FX, INC
• Epic Games, Inc.
• HTC Corporation (VivePort)
• HumanEyes Technologies
• Mo-Sys Engineering Ltd.
• NVIDIA Corporation.
• com
• Pixar (The Walt Disney Company)
• Side Effects Software Inc (SideFX)
• Technicolor
• Vicon Motion Systems Ltd

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Social Commerce Market Segmented On The Basis Of Business Model, Product Type, Platform/Sales Channel, Region And Forecast To 2030: Grand View Research Inc.

San Francisco, 6 Oct 2023: The Report Social Commerce Market Size, Share & Trends Analysis Report By Business Model, By Product Type, By Platform/Sales Channel, By Region, And Segment Forecasts, 2023 – 2030

The global social commerce market size is anticipated to reach USD 6,243.94 billion by 2030, and it is set to expand at 31.6% CAGR from 2023 to 2030, according to a new study by Grand View Research Inc. Growing ease of online purchases is considered the most significant factor driving social commerce demand. Combining entertainment with impulsive purchasing habits continues to drive social commerce. It provides brands, and retailers with a new medium, which holds enormous potential for value generation.

The growing use of the internet for advertising practices has revolutionized the business model of various companies. Moreover, it has also created alternate revenue streams. The easy availability of high-speed and affordable internet services for customers offers marketers a new channel to reach out to their target audience. This has led to the rise of influencer marketing practices. Brands have developed more individualized advertising campaigns, improving the client experience. Their commercial relationships continue to scale by utilizing these marketing techniques.

A survey organized by the influencer marketing hub suggested that more than 40% of the participants have made at least one purchase as a result of social media company postings or influencer content. The fact that influencers can help organizations achieve key marketing goals including engagement, sales, high-quality content, and brand awareness, which in turn drives the significant demand for influencer marketing.With the upsurge in influencer marketing, Instagram shopping brands are seen leveraging these individuals to create awareness and validation for their products and services.

Furthermore, the growing popularity of the live-stream shopping trend is expected to drive market growth during the forecast period. Before the pandemic, the ‘shoppable video’ was well-known in China. Furthermore, COVID-19 brought with it a live commerce experience that has led to a resurgence in this method of shopping. The live shopping experience most closely resembles in-person shopping. Through this, buyers can watch people try products in real-time, allowing the brand to get feedback instantly. The pandemic accelerated the adoption of live stream shopping, giving ample opportunity for it to reach the untapped markets.

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Social Commerce Market Report Highlights

• B2C segment dominated the market in 2022 and is expected to continue dominance with a shift in consumer mindset and rising digitization contribute
• The personal & beauty care segment is expected to grow at a high pace during 2022 due to offerings such as cashback, discounts, same-day or next-day deliveries, EMI options by social commerce platforms
• Asia Pacific is anticipated to grow at a healthy CAGR of 33.1% over the forecast period. This growth is attributable to the proliferation of the internet and smartphones in the region

Social Commerce Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 913.90 billion
Revenue forecast in 2030	USD 6,243.94 billion
Growth Rate	CAGR of 31.6% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 – 2021
Forecast period	2023 – 2030

List of Key Players in the Social Commerce Market

• Etsy, Inc.
• Fashnear Technologies Private Limited (Meesho)
• Meta Platforms, Inc. (Facebook)
• Pinduoduo Inc.
• Pinterest, Inc.
• Poshmark
• Roposo
• Snap, Inc.
• Taobao
• TikTok (Douyin)
• Trell Shop
• Twitter, Inc.
• WeChat (Weixin)
• Xiaohongshu
• Yunji Sharing Technology Co., Ltd.

Access Press Release of Social Commerce Market @ https://www.grandviewresearch.com/press-release/global-social-commerce-market

Intelligent Traffic Management System Market Outlook On The Basis Of Solution, Region And Forecast To 2030: Grand View Research Inc.

San Francisco, 6 Oct 2023: The Report Intelligent Traffic Management System Market Size, Share, & Trends Analysis Report By Solution (Traffic Monitoring System, Traffic Signal Control System), By Region, And Segment Forecasts, 2023 – 2030

The global intelligent traffic management system market size is expected to reach USD 27.92 billion by 2030, The market is anticipated to expand at a CAGR of 13.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising urban population, increasing mobility and road transport efficiency, and the need to transform transport networks due to rapid industrialization are expected to drive the market over the forecast period.

ITMS solutions eliminate delays, ease traffic congestion, and send accurate information to commuters and transportation planners. Rising government initiatives across the globe to implement smart cities with developed road networks and transportation systems, which is expected to have a positive impact on the growth of the intelligent traffic management system market.

Intelligent traffic management systems require vast, scalable, and advanced data infrastructure for real-time data processing. However, the infrastructure required to introduce the new technology has not expanded rapidly and replacing the existing equipment remains costly. Governments of various regions continue to invest in road infrastructure, to upgrade their transportation systems in an attempt to reduce traffic congestion.

For instance, In April 2021, SNC-Lavalin Group, an engineering, procurement, and construction service provider, was awarded a 3-year contract worth USD 15 million by the California department of transportation (Caltrans) to provide a Transportation Asset Management System (TAMS). Under this contract, the company’s Data Transfer Solutions (DTS) business unit would provide services such as software licensing and maintenance, implementation of the TAMS solution, and optional post-implementation support. These developments would further boost the demand for ITMS solutions during the forecast period.

However, the lack of standards, and the technology homogeneity and safety issues related to traffic management systems may adversely affect the growth of the intelligent traffic management system market. To curb accidents, the United Nations Economic Commission for Europe (UNECE) assists in the administration of legal instruments on road safety. Various aspects such as road infrastructure, traffic management, traffic signs and signals are negotiated and legally binding for member states. ITMS can help reduce traffic accidents and improve safety. Countries such U.S. and China are actively investing in ITMS solutions, which should bode well for the market during the forecast period.

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Intelligent Traffic Management System Market Report Highlights

• The Integrated Corridor Management (ICM) segment is expected to grow at a CAGR of 14.6% over the forecast period. The market is gradually embracing advanced technologies that integrate and coordinate traffic flow
• Traffic enforcement camera segment is expected to grow at 10.8% CAGR during the forecast period. The growing demand for traffic management solutions promises robust growth of the segment
• The Asia Pacific regional market is anticipated to grow at a significant CAGR of 17.5% from 2023 to 2030. The growth of the market in APAC is driven by the region’s rapid urbanization, rising awareness regarding intelligent systems, and growing population

Intelligent Traffic Management System Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 11.31 billion
Revenue forecast in 2030	USD 27.92 billion
Growth rate	CAGR of 13.8% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 – 2021
Forecast period	2023 – 2030

List of Key Players in Intelligent Traffic Management System Market

• Cubic Corporation
• SNC-Lavalin Group (Atkins)
• Thales Group
• International Business Machines Corporation
• General Electric Company
• Siemens AG
• Kapsch TrafficCom
• TomTom International BV
• Q-Free ASA
• TransCore

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Tractor Implements Market Segment Analysis By Product, Region And Forecast Till 2030

San Francisco, 6 Oct 2023: The Report Tractor Implements Market Size, Share & Trends Analysis Report By Product (Cultivator & Tiller, Harrows, Planters, Spreaders, Plough, Baler), By Region (North America, APAC, Europe), And Segment Forecasts, 2022 – 2030

The global tractor implements market size is expected to reach USD 43.50 billion by 2030, growing at a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. The surge in the adoption of advanced technology in the agricultural sector and a rise in the average farmer’s income are expected to be the primary factors driving the industry. Furthermore, favorable government policies for the agricultural sector and financial support to encourage product purchase are factors anticipated to drive the global industry. Farm owners’ approach toward high crop yield and the availability of technologically advanced tractor implements that aid in increasing farm productivity are also anticipated to boost growth prospects for the global industry over the forecast period.

Several companies are investing in upcoming technologies, including robotics that separate crops from weeds, software that connects to farm equipment, and drones, which have increased the adoption of tractor implements among farmers. There are several other factors contributing to the industry including favorable climatic conditions for farming and government loan waiver schemes for farmers from all backgrounds. The COVID-19 outbreak in 2019 hampered the growth of the market. Social restrictions imposed during the pandemic by various governments led to the temporary shutdown of manufacturing sites, resulting in production and supply delays. The shortage in the raw material supply hampered the manufacturing companies in the industry.

For instance, in 2020, market leaders, such as AGCO Industries and Deere & Company showed a declining revenue due to the delays in farm equipment purchases. Both companies had increased revenue post-pandemic. There are still several challenges that the industry faces due to the high maintenance costs. It is critical to inspect tractor implements at various intervals to ensure accurate operations. In addition to checking for damaged switches, sharpening, lubricating, and other repairs required, tractor implements should be regularly inspected. Therefore, tractor implements have relatively high maintenance costs, which is expected to hamper industry growth. The industry is highly fragmented and characterized by strong competition. Key companies focus on various technological advancements, such as flying drones and agriculture robots, and are following apparatus manufacturing standards to maintain their position in the industry.

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Tractor Implements Market Report Highlights

• The harrow segment is estimated to grow at the second-fastest CAGR over the forecast period as these tools offer ease of doing chores and improve overall productivity
• Furthermore, increasing adoption of the optimum seedbed by farmers to cultivate various upland crops is expected to boost the demand for harrows
• In addition, several companies are introducing foldable harrows that are driving segment growth. For instance, in November 2021, Pottinger launched the Lion 1002 C power harrow designed for various tractors of up to 500 hp
• North America was the third-largest region in 2021 due to the high sales of various tractor implements on account of increased farm consolidation, large production bases, and government support
• Furthermore, the demand for sustainability by farmers in managing their operations leads to the adoption of efficient tractor implements
• The shortage of farm labor in the region is also expected to drive the market. For instance, according to a report published by the Canadian agriculture human resource council, the labor shortage is estimated to rise to 123,000 workers by 2029

Tractor Implements Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 29.38 billion
Revenue forecast in 2030	USD 43.50 billion
Growth rate	CAGR of 5.0 % from 2022 to 2030
Base year for estimation	2021
Historical data	2018 – 2020
Forecast period	2022 – 2030

List of Key Players of Tractor Implements Market

• Claas KGaA Mbh
• Deere & Company
• Kubota Corp.
• CNH Industrial N.V.
• Agco Corporation
• Tractors and Farm Equipment Limited (TAFE)
• SDF Group
• Mahindra & Mahindra
• J C Bamford Excavators Ltd. (JCB)
• Actuant
• Kuhn Group
• Alamo Group

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Asset Management Market Segmented On The Basis Of Component, Asset Type, Function, Application, Region And Forecast To 2030: Grand View Research Inc.

San Francisco, 4 Oct 2023: The Report Asset Management Market Size, Share & Trends Analysis Report By Asset Type (Digital Assets, In-transit Equipment), By Component (Solution, Service), By Application (Aviation AM, Hospital AM), By Function, And Segment Forecasts, 2023 – 2030

The global asset management market size is expected to reach USD 3,677.39 billion by 2030, registering a CAGR of 34.7% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The three key trends that will drive the industry growth are the increasingnumber of High-Net-WorthIndividuals (HNWIs), the government-incentivized shift to individual retirement plans, and the expansion of Sovereign Wealth Funds (SWFs). With increasing assets and associated costs, market vendors must maintain or increase their technology and data management investment to maximize distribution opportunities and comply with regulations and reporting. Other factors driving the industry include the need to reduce equipment downtime and ensure optimum utilization of the available resources.

The increased awareness about the benefits of IoT-based asset management solutions bodes well for market growth. Advances in the latest technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and infrastructure automation, coupled with the continued integration of analytical and business intelligence tools in asset management solutions, are also expected to drive the industry. Asset management will take center stage as demographics and markets shift. Banks and insurers will be hampered by regulation because it will force them to abandon proprietary investing and other core businesses. Furthermore, with the growing geriatric population, retirement and healthcare will become significant challenges that only asset management can handle.

Asset managers will be in high demand as capital is raised to support growing urbanization and cross-border trade. Furthermore, asset managers will be at the forefront of SWFs’ efforts to diversify their vast pools of assets. The industry value will need to be communicated systematically and consistently. Integrating analytical solutions, such as predictive analytics, with asset management solutions is particularly helping organizations predict asset failures and subsequently decrease overall downtime costs. The adoption of asset management solutions is rising amid the growing concerns among enterprises about the appropriate maintenance of assets and reduction in overall operational costs.

Predictive asset management solutions can use non-intrusive testing approaches to determine asset performance patterns, minimize failure causes, save downtime, and lower replacement costs. Predictive analytics and maintenance solutions are simple to implement in various industries and verticals, including aerospace, manufacturing, healthcare, processing, and automotive. Industry players engage in technology partnerships and collaborations to develop advanced asset management solutions and roll out asset management services for their customers. For instance, in May 2021, Maikubo Artificial Intelligence (AI) Academy adopted the RFID solution offered by Zebra Technologies Corp. for efficient and accurate asset management and tagging of training equipment. The RFID solution has enhanced the efficiency of the staff while saving time and improving visibility.

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Asset Management Market Report Highlights

• The strategic asset management service segment is expected to witness significant growth owing to the involvement of development and planning in maintaining infrastructure assets
• The in-transit asset segment is expected to grow at a considerable CAGR over the forecast period due to the growth in e-commerce activities across the globe
• The support and maintenance segment is projected to exhibit a high CAGR as organizations benefit from support and maintenance activities because they help them improve the efficiency of their assets and, as a result, increase income generation
• The aviation asset management segment is expected to grow at a noteworthy CAGR over the forecast period due to an increase in air passenger volume and the launch of new aircraft models
• The growing demand for cloud-based asset management solutions from a large number of SMEs based in Asia Pacific, along with the rising middle-class population, higher life expectancies, investors’ gradual transfer from deposits to financial assets, and longer pension durations, has resulted in a need to manage valuable asset data

Asset Management Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 458.02 billion
Revenue forecast in 2030	USD 3,677.39 billion
Growth rate	CAGR of 34.7% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 – 2021
Forecast period	2023 – 2030

List of Key Players of Asset Management Market

• ABB Inc.
• Adobe Systems Inc.
• Brookfield Asset Management Inc.
• Honeywell International Inc.
• IBM Corp.
• Oracle Corp.
• Rockwell Automation, Inc.
• Siemens AG
• WSP Global Inc.
• Zebra Technologies Corp.

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Online Tutoring Services Market Focusing On The Basis Of Tutoring Type, Course Type, Duration, Tutoring Style, End-User, Region And Forecast 2030: Grand View Research Inc.

San Francisco, 3 Oct 2023: The Report Online Tutoring Services Market Size, Share & Trends Analysis Report By Tutoring Type, By Course Type (Language, STEM), By Duration, By Tutoring Style, By End-user, By Region, And Segment Forecasts, 2023 – 2030

The global online tutoring services market size is expected to reach USD 23.73 billion by 2030, growing at a CAGR of 14.9% from 2023 to 2030, according to a report published by Grand View Research, Inc. Online tutoring refers to the process of tutoring in an online, networked, or virtual environment where learners and tutors are present virtually. It has gained popularity with the ever-increasing use of internet services worldwide. Increased internet data transfer speed has enabled tutors and learners to engage online simultaneously.

Furthermore, the rapid adoption of smartphones is one of the significant factors driving the adoption of online teaching services worldwide as it enables learning to take place regardless of geographic location. For instance, in January 2022, MyCaptain, an online mentorship platform, raised USD 3 million in a new round of funding headed by Ankur Capital. The funds raised will be used to expand the company’s course offerings, recruit more users, and increase its team with an eye toward expansion.

Furthermore, schools, universities, and other learning institutes have been encouraged to follow distance education and work remotely with their students amid the COVID-19 pandemic. The adoption of distance learning owing to the outbreak of the pandemic has impacted the industry’s growth favorably. For instance, in January 2023, Waterbury Public Schools, a school district based in Waterbury, Connecticut, partnered with Varsity Tutors, a Nerdy Inc. company.

The acquisition aims to deliver each district’s students free 24/7 live-chat academic support and essay review services. Thus, online tutoring service providers have positively leveraged the pandemic situation as educational institutes have been closed in many states and countries. For instance, in November 2021, Unacademy, an Indian multinational learning platform, acquired Swiflearn, an e-learning platform that provides live virtual tuitions for school children for an undisclosed fee. The company’s acquisition is part of a larger plan to strengthen its position in the K-12 market and expand its product offerings.  

The market has benefitted from the onset of analytical applications to customize tutoring services. For instance, in August 2021, Acellus Corporation, an online school platform for K-12 students, offered its online program for independent study to the Wilsona district in California, which would provide personalized learning according to the requirement of the learners.

For another instance, in February 2022, Paper, an online tutoring company, raised USD 270 million in a Series D fundraising round, owing to increased demand for academic intervention in American schools. According to the business, the new funding will be used to partner with a growing number of innovative educational systems to level the playing field for all students. This trend of growing customization in tutoring services is anticipated to trigger market growth owing to the formative assessment features of these services.

Access Research Report of Online Tutoring Services Market @ https://www.grandviewresearch.com/industry-analysis/online-tutoring-services-market

Online Tutoring Services Market Report Highlights

• The increasing adoption of mobile phones and tablets by students and parents has led to the impulsive growth of mobile learning methods
• The structured tutoring segment is anticipated to register a significant CAGR over the forecast period owing to the growing prominence of live teaching sessions via videoconferencing
• The Science, Technology, Engineering, and Mathematics (STEM) courses segment dominated the market in 2022. STEM in higher education prepares students to think critically and creates professionals that can perform across scientific disciplines to solve complex problems
• The long-term courses segment dominated the market in 2022. The coronavirus outbreak has carried vast opportunities for long-term courses in the online tutoring services market
• The subject tutoring segment dominated the market in 2022. Subject tutoring is a one-of-a-kind way to augment the classroom in a tailored, private setting where students can learn at their own pace
• The K-12 segment dominated the market in 2022 owing to the growing significance of STEM education among students globally
• North America dominated the market and accounted for the largest share of the global revenue in 2022, owing to the availability of an enormous client base and well-established ICT solution providers

Online Tutoring Services Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 8.97 billion
Revenue forecast in 2030	USD 23.73 billion
Growth rate	CAGR of 14.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 – 2021
Forecast period	2023 – 2030

List of Key Players in the Online Tutoring Services Market

• Ambow Education
• ArborBridge
• Beijing Magic Ears Technology Co., Ltd
• BYJU’S
• Chegg Inc.
• Club Z! Inc.
• iTutorGroup
• Qkids Teacher
• Varsity Tutors
• com

Access Press Release of Online Tutoring Services Market @ https://www.grandviewresearch.com/press-release/global-online-tutoring-services-market