Artificial Intelligence
Global Contract Research Outsourcing Market to Reach $67.1 Billion by 2026
New York, Feb. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Contract Research Outsourcing Industry” – https://www.reportlinker.com/p04910444/?utm_source=GNW
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Global Contract Research Outsourcing Market to Reach $67.1 Billion by 2026
Contract Research Outsourcing extends from mere manufacture of active pharmaceutical intermediates to development and manufacture of dosage forms, development of clinical research, and also to such areas as basic research and packaging. CROs provide specialist and innovative services in the areas of high throughput screening, potential drug target (gene/protein) identification, cGMP synthesis and scale up, impurity profiling, and advanced analytical chemistry techniques. Growth in the global market is being driven by multiple factors, one of the most important being the increasing number of drugs being developed, which has almost doubled over the past 10 years (from around 7500 in 2007 to 1500 in 2018). The emergence of new therapeutic modalities, drug discoveries, coupled with the increase in number of biotech companies and the advent of novel biological drugs are the other growth drivers. Patent expiries of major drugs worth around $200 billion during the next five years and rising competition from generic drugs, is enabling companies to increasingly turn to outsourcing of R&D so as to remain competitive and profitable. Technological advancements in recent times, such as data mining, artificial intelligence, digital health, big data technologies, and data-driven diagnostics are giving a boost to market growth. Further, the rising focus on personalized medicine is enabling pharma companies to strategize their research pipelines.
Amid the COVID-19 crisis, the global market for Contract Research Outsourcing estimated at US$44.9 Billion in the year 2020, is projected to reach a revised size of US$67.1 Billion by 2026, growing at a CAGR of 7% over the analysis period. Clinical, one of the segments analyzed in the report, is projected to grow at a 7.4% CAGR to reach US$48.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Discovery segment is readjusted to a revised 6% CAGR for the next 7-year period. This segment currently accounts for a 15% share of the global Contract Research Outsourcing market. Drug discovery represents a key service offered by CROs. Under drug discovery services, the CROs focus on offering highly efficient and well considered scientific solutions to facilitate various drug discovery programs against a broad array of drug targets.
The U.S. Market is Estimated at $19 Billion in 2021, While China is Forecast to Reach $3.8 Billion by 2026
The Contract Research Outsourcing market in the U.S. is estimated at US$19 Billion in the year 2021. The country currently accounts for a 40.41% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$3.8 Billion in the year 2026 trailing a CAGR of 9.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 6.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR while Rest of European market (as defined in the study) will reach US$4.2 Billion by the end of the analysis period. Robust growth in the US market is attributed to high quality standards within the pharmaceutical sector, spurt in clinical trials, robust growth posted by the biologics and biosimilars markets, and increasing focus of pharmaceutical and biopharmaceutical firms to embrace outsourcing services. The region boasts of the highest number of clinical trials – undertaken as well as outsourced in the world. There is also enormous support to the market from the federal government. The region`s strong position is also attributed to presence of various industries that make huge investments in R&D activities. Growth in the Asia-Pacific region is supported by rapidly expanding pharmaceutical industry, low cost of clinical trials, supportive government policies, and increasing efforts by pharmaceutical companies to set up new manufacturing facilities.
Pre-Clinical Segment to Reach $8.8 Million by 2026
To increase the likelihood of a drug candidate`s success during regulatory process, CROs offer services such as pre-clinical services. Pre-clinical R&D outsourcing allows players to purchase molecules during the latter stages of drug development for mitigating risks. In the global Pre-Clinical segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.3 Billion in the year 2020 will reach a projected size of US$8.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$769.2 Million by the year 2026.
Select Competitors (Total 152 Featured) –
- Albany Molecular Research, Inc.
- Charles River Laboratories International, Inc.
- Covance Clinical Biotech
- ICON plc
- IQVIA Inc
- Jubilant Biosys Ltd.
- Laboratory Corporation of America® Holdings
- Olon Ricerca Bioscience
- PAREXEL International Corp.
- Pharmaceutical Product Development, LLC.
- Pharmaron
- PRA Health Sciences, Inc.
- Sygnature Discovery Limited
- Syneos Health
- SynteractHCR
- WuXi AppTec
Read the full report: https://www.reportlinker.com/p04910444/?utm_source=GNW
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
COVID-19 Delivers Mixed Results for Pharmaceutical Research
Outsourcing Industry
Players Focus on Collaborative Approach
Optimism Reigns in Latter Part of 2020
COVID-19 and Implications for Drug Development Regulations &
Processes
Opportunities in COVID-19 Programs
Parallel Gains for Development & Manufacturing
Contract Research Outsourcing – Global Key Competitors
Percentage Market Share in 2022 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for
Players Worldwide in 2022 (E)
Contract Research Outsourcing: An Introduction
Key Service Markets
Market Dynamics
Key Therapeutic Areas of Clinical Trial Research
Global Clinical Trial Services Market by Therapeutic Area: 2019
Top 6 Therapeutic Categories by Number of R&D Products in 2020
Cost Savings Hold Relevance
Product Innovations & Enhanced Speed
Access to Expertise & Sophisticated Technology
Outlook
Regional Market Analysis
Future Model of CRO
COMPETITIVE SCENARIO
CRO: A Highly Fragmented Market
Leading Players in the Global Contract Research Outsourcing
Market (2019): Percentage Breakdown of Revenues by Player
Partnership Models Pay Returns
Strategies and Tactical Programs
Large CROs Seek the Inorganic Growth Route
Key Opportunities for CROs
Technological Superiority: An Advantage
Consolidation to Gain Pace
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Uptrend in Advanced Medicine Concepts Favors Growth
Drug Developers Bet on CROs to Sail through Challenging Aspects
Pharmaceutical & Biopharmaceutical Firms Target Outsourcing
Gene Therapy Offers Exciting Opportunities for CROs
COVID-19 Creates a Pause in Gene Therapy Market Growth
Gene Therapy Set to Witness Rapid Growth Post COVID-19
Global Gene Therapy Market in US$ Million for Years 2020, 2022,
2024, 2026
Increasing Significance of Biologic Drugs Supports Market Demand
Global Biologic Drugs Market Size (in US$ Billion) for the
Years 2019, 2022 & 2025
COVID-19 Drives Strong Gains for Biologics Activity
Opportunities Rife in Early Stage Drug Development
Notable Trends in Pharma/Biopharma R&D Impacting CROs
Advances in Digital/Technology and its Impact on Clinical
Development
Significant Strides Taken in the Sphere of Current Clinical
Research
Data Quality Oversight (DQO) Undergoes Change
Pharmacovigilance Set to Grow
Artificial Intelligence and Machine Learning Gain Interest
Orphan Drugs to the Fore
CROs Adapt New Technologies to See More Business in Future
Streamlining Development of Novel Trial Designs
Industry Witnesses Increased Spend on R&D Outsourcing
Pharmaceutical R&D Spending Worldwide (USD Billion): 2015-2025
Percentage Breakdown of Total Number of Compounds in Pipeline
by Phase for Pre-Clinical, Phase I, Phase II and Phase III:
2019
Focus on Enhancing Site Selection and Patient Enrollment
CROs Enter into Alliances to Improve Efficiencies
Adoption of Digital Technologies Gains Pace
Toxicology Services Gain Notable Attention
Pharma Companies Enter into Licensing Agreements with Biotech
Companies for New Drug Discovery
Pharmaceutical & Biopharmaceutical Trends to Support CRO
Penetration
Global Biopharma % R&D Outsourcing (2014-2022)
New FDA Drug Approvals (2010-2016): Breakdown of Number of
Approvals by Type for New Molecular Entity (NME) and Biologic
License Application (BLA) Approvals
eClinical Solutions Gain Traction
Other Noteworthy Market Trends
Challenges Faced by Contract Research Organizations
Surging Global Population Offers Increased Growth Opportunities
World Population (in Thousands) by Geographic Region for the
Years 2018, 2025, 2040, 2050
Aging Population & Increasing Burden of Chronic Diseases Spurs
Pharma Product Sales, Driving Market Growth
Global Aging Population Statistics for the 65+ Age Group in
Million by Geographic Region for the Years 2019, 2025, 2035
and 2050
Global Cancer Incidence: Number of New Cancer Cases in Million
for the Years 2018, 2020, 2025, 2030, 2035 and 2040
Global Annual Medical Cost of CVD in US$ Billion (2010-2030)
Fatalities by Heart Conditions: Estimated Percentage Breakdown
for Cardiovascular Disease, Ischemic Heart Disease, Stroke,
and Others
World Diabetes and Population Statistics (2019, 2030 & 2045)
Increasing Healthcare Expenditure and Demand for Generics to
Drive Growth
World Healthcare Expenditure (In US$ Billion) for the Years
2017-2023
EXHIBIT Healthcare Costs as a % of GDP by Country for the Years
2020 & 2023
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Geographic Region – USA,
Canada, Japan, China, Europe, Asia-Pacific, Latin America and
Rest of World Markets – Independent Analysis of Annual Revenues
in US$ Million for Years 2020 through 2027 and % CAGR
Table 2: World Historic Review for Contract Research
Outsourcing by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2012 through 2019 and % CAGR
Table 3: World 15-Year Perspective for Contract Research
Outsourcing by Geographic Region – Percentage Breakdown of
Value Revenues for USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America and Rest of World Markets for Years
2012, 2021 & 2027
Table 4: World Recent Past, Current & Future Analysis for
Clinical by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2020 through 2027 and % CAGR
Table 5: World Historic Review for Clinical by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America and Rest of World Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 6: World 15-Year Perspective for Clinical by Geographic
Region – Percentage Breakdown of Value Revenues for USA,
Canada, Japan, China, Europe, Asia-Pacific, Latin America and
Rest of World for Years 2012, 2021 & 2027
Table 7: World Recent Past, Current & Future Analysis for
Discovery by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2020 through 2027 and % CAGR
Table 8: World Historic Review for Discovery by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America and Rest of World Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 9: World 15-Year Perspective for Discovery by Geographic
Region – Percentage Breakdown of Value Revenues for USA,
Canada, Japan, China, Europe, Asia-Pacific, Latin America and
Rest of World for Years 2012, 2021 & 2027
Table 10: World Recent Past, Current & Future Analysis for
Pre-Clinical by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2020 through 2027 and % CAGR
Table 11: World Historic Review for Pre-Clinical by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America and Rest of World Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 12: World 15-Year Perspective for Pre-Clinical by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America
and Rest of World for Years 2012, 2021 & 2027
Table 13: World Recent Past, Current & Future Analysis for
Laboratory Services by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific, Latin America and Rest of World
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2020 through 2027 and % CAGR
Table 14: World Historic Review for Laboratory Services by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2012 through 2019 and % CAGR
Table 15: World 15-Year Perspective for Laboratory Services by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America
and Rest of World for Years 2012, 2021 & 2027
Table 16: World Recent Past, Current & Future Analysis for
Pharmaceutical & Biopharmaceutical Companies by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific, Latin
America and Rest of World Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2020 through 2027 and
% CAGR
Table 17: World Historic Review for Pharmaceutical &
Biopharmaceutical Companies by Geographic Region – USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America and Rest of
World Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 18: World 15-Year Perspective for Pharmaceutical &
Biopharmaceutical Companies by Geographic Region – Percentage
Breakdown of Value Revenues for USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America and Rest of World for Years
2012, 2021 & 2027
Table 19: World Recent Past, Current & Future Analysis for
Medical Device Companies by Geographic Region – USA, Canada,
Japan, China, Europe, Asia-Pacific, Latin America and Rest of
World Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2020 through 2027 and % CAGR
Table 20: World Historic Review for Medical Device Companies by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2012 through 2019 and % CAGR
Table 21: World 15-Year Perspective for Medical Device
Companies by Geographic Region – Percentage Breakdown of Value
Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific,
Latin America and Rest of World for Years 2012, 2021 & 2027
Table 22: World Recent Past, Current & Future Analysis for
Academic Institutes by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific, Latin America and Rest of World
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2020 through 2027 and % CAGR
Table 23: World Historic Review for Academic Institutes by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2012 through 2019 and % CAGR
Table 24: World 15-Year Perspective for Academic Institutes by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America
and Rest of World for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in the United States for 2022
(E)
Market Overview
COVID-19 Pandemic: Mixed Bag of Opportunities for CROs
Drug Developers Rely on CROs to Improve Trial Efficiency and
Cost Savings
Trial Services Witness Strong Demand
High Demand for Data Management Services
Risk-based Monitoring Catches Pace
Market Analytics
Table 25: USA Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 26: USA Historic Review for Contract Research Outsourcing
by Service Type – Clinical, Discovery, Pre-Clinical and
Laboratory Services Markets – Independent Analysis of Annual
Revenues in US$ Million for Years 2012 through 2019 and % CAGR
Table 27: USA 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 28: USA Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 29: USA Historic Review for Contract Research Outsourcing
by End-Use – Pharmaceutical & Biopharmaceutical Companies,
Medical Device Companies and Academic Institutes Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2012 through 2019 and % CAGR
Table 30: USA 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
CANADA
Table 31: Canada Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 32: Canada Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 33: Canada 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 34: Canada Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 35: Canada Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 36: Canada 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
JAPAN
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in Japan for 2022 (E)
Table 37: Japan Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 38: Japan Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 39: Japan 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 40: Japan Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 41: Japan Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 42: Japan 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
CHINA
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in China for 2022 (E)
Market Overview
Table 43: China Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 44: China Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 45: China 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 46: China Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 47: China Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 48: China 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
EUROPE
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in Europe for 2022 (E)
Market Overview
Amid Pandemic, CRO Industry in Europe Gears Up for Broad-based
Amendments
Providers Expand Services in Downstream Drug Development
Market Analytics
Table 49: Europe Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Geographic Region – France,
Germany, Italy, UK, Spain, Russia and Rest of Europe Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2020 through 2027 and % CAGR
Table 50: Europe Historic Review for Contract Research
Outsourcing by Geographic Region – France, Germany, Italy, UK,
Spain, Russia and Rest of Europe Markets – Independent Analysis
of Annual Revenues in US$ Million for Years 2012 through 2019
and % CAGR
Table 51: Europe 15-Year Perspective for Contract Research
Outsourcing by Geographic Region – Percentage Breakdown of
Value Revenues for France, Germany, Italy, UK, Spain, Russia
and Rest of Europe Markets for Years 2012, 2021 & 2027
Table 52: Europe Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 53: Europe Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 54: Europe 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 55: Europe Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 56: Europe Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 57: Europe 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
FRANCE
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in France for 2022 (E)
Table 58: France Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 59: France Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 60: France 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 61: France Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 62: France Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 63: France 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
GERMANY
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in Germany for 2022 (E)
Table 64: Germany Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 65: Germany Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 66: Germany 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 67: Germany Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 68: Germany Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 69: Germany 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
ITALY
Table 70: Italy Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 71: Italy Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 72: Italy 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 73: Italy Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 74: Italy Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 75: Italy 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
UNITED KINGDOM
Contract Research Outsourcing Market Presence – Strong/Active/
Niche/Trivial – Key Competitors in the United Kingdom for 2022
(E)
Table 76: UK Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 77: UK Historic Review for Contract Research Outsourcing
by Service Type – Clinical, Discovery, Pre-Clinical and
Laboratory Services Markets – Independent Analysis of Annual
Revenues in US$ Million for Years 2012 through 2019 and % CAGR
Table 78: UK 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 79: UK Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 80: UK Historic Review for Contract Research Outsourcing
by End-Use – Pharmaceutical & Biopharmaceutical Companies,
Medical Device Companies and Academic Institutes Markets –
Independent Analysis of Annual Revenues in US$ Million for
Years 2012 through 2019 and % CAGR
Table 81: UK 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
SPAIN
Table 82: Spain Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 83: Spain Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 84: Spain 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 85: Spain Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 86: Spain Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 87: Spain 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
RUSSIA
Table 88: Russia Recent Past, Current & Future Analysis for
Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 89: Russia Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 90: Russia 15-Year Perspective for Contract Research
Outsourcing by Service Type – Percentage Breakdown of Value
Revenues for Clinical, Discovery, Pre-Clinical and Laboratory
Services for the Years 2012, 2021 & 2027
Table 91: Russia Recent Past, Current & Future Analysis for
Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 92: Russia Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
Markets – Independent Analysis of Annual Revenues in US$
Million for Years 2012 through 2019 and % CAGR
Table 93: Russia 15-Year Perspective for Contract Research
Outsourcing by End-Use – Percentage Breakdown of Value Revenues
for Pharmaceutical & Biopharmaceutical Companies, Medical
Device Companies and Academic Institutes for the Years 2012,
2021 & 2027
REST OF EUROPE
Table 94: Rest of Europe Recent Past, Current & Future Analysis
for Contract Research Outsourcing by Service Type – Clinical,
Discovery, Pre-Clinical and Laboratory Services – Independent
Analysis of Annual Revenues in US$ Million for the Years 2020
through 2027 and % CAGR
Table 95: Rest of Europe Historic Review for Contract Research
Outsourcing by Service Type – Clinical, Discovery, Pre-Clinical
and Laboratory Services Markets – Independent Analysis of
Annual Revenues in US$ Million for Years 2012 through 2019 and
% CAGR
Table 96: Rest of Europe 15-Year Perspective for Contract
Research Outsourcing by Service Type – Percentage Breakdown of
Value Revenues for Clinical, Discovery, Pre-Clinical and
Laboratory Services for the Years 2012, 2021 & 2027
Table 97: Rest of Europe Recent Past, Current & Future Analysis
for Contract Research Outsourcing by End-Use – Pharmaceutical &
Biopharmaceutical Companies, Medical Device Companies and
Academic Institutes – Independent Analysis of Annual Revenues
in US$ Million for the Years 2020 through 2027 and % CAGR
Table 98: Rest of Europe Historic Review for Contract Research
Outsourcing by End-Use – Pharmaceutical & Biopharmaceutical
Companies, Medical Device Companies and Academic Institutes
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Artificial Intelligence
Fingerprint Sensor Market worth $5.9 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 27, 2024 /PRNewswire/ — The Fingerprint Sensor Market is projected to grow from USD 4.2 billion in 2024 and is estimated to reach USD 5.9 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.0% from 2024 to 2029 according to a new report by MarketsandMarkets™. The rise in number of identity threats is one of the key factors leading to emergence of fingerprint technologies. Identity theft refers to the illegal acquisition of an individual’s personal or financial details to perpetrate fraud, including unauthorized transactions. It occurs through various methods and inflicts harm on victims’ credit, finances, and reputation.
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Browse in-depth TOC on “Fingerprint Sensor Market” 100 – Tables60 – Figures200 – Pages
Fingerprint Sensor Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 4.2 billion in 2024
Estimated Value by 2029
$ 5.9 billion
Growth Rate
Poised to grow at a CAGR of 7.0%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By technology, sensor technology, type, end-use application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Sensor performance limitations
Key Market Opportunities
Increased adoption of IoT-based biometric technology
Key Market Drivers
Rise in number of identity threats leading to emergence of fingerprint technologies
Area & Touch sensors in the sensor type segment is expected to witness higher CAGR during the forecast period.
Area & touch sensors segment is expected to witness a higher CAGR during the forecast period in the fingerprint sensor market. These sensors activate upon physical contact with an object or individual and are more sensitive compared to traditional buttons or manual controls. They provide users with a seamless and responsive experience, making them ideal for modern electronic devices where sleek design and user convenience are paramount.
The 2D segment in the fingerprint sensor market is expected to capture higher share during the forecast period.
2D sensor technology captures a person’s fingerprint pattern, including ridges and valleys, in two dimensions using a single plane of lasers to measure the X and Y dimensions. This technology is primarily utilized for detection and ranging tasks. Due to its affordability, 2D sensor technology remains popular among OEMs, especially in mobile devices requiring compact sensors to meet the preferences of end users. Key players such as Synaptics Incorporated (US), Fingerprints (Sweden), and Shenzhen Goodix Technology Co., Ltd. (China) offer 2D sensors for various consumer electronics and applications.
Ultrasonic is expected to witness the highest CAGR in the fingerprint sensor market during the forecast period.
Ultrasonic fingerprint sensors utilize sound waves to penetrate the outer layers of the skin, enabling the capture of three-dimensional (3D) details and distinct fingerprint characteristics like ridges and sweat pores. Unlike current capacitive touch-based fingerprint technologies, ultrasonic sensors can read both the epidermal and dermal layers of the skin, allowing for the capture of fine details. Consequently, these sensors can accurately read wet fingers or those with ruptured or damaged skin. The continuous advancements in sensing technology are expected anticipated to propel the growth of the ultrasonic fingerprint sensor market. In January 2022, vivo (China) announced the 1000 9 Pro smartphone with Qualcomm’s 3D Sonic Max ultrasonic fingerprint sensor. The new smartphone is based on Snapdragon 8 Gen 1 processor. The Qualcomm 3D Sonic Max in the IQ00 9 Pro enables a super-fast one-tap fingerprint registration process.
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North America is expected to hold the second largest share of the fingerprint sensor industry during the forecast period.
North America is driven by the increasing adoption of biometric authentication across various sectors, particularly consumer electronics, government, and commercial domains. The US Department of Homeland Security (DHS) has been actively promoting the use of biometric technologies, including fingerprint sensors, for enhancing border security and immigration processes. The DHS’s Biometric Entry-Exit Program has facilitated the deployment of fingerprint scanners at various ports of entry, contributing to the market’s growth in the region. According to November 2023 statistics by US Department of Homeland Security (DHS), 1,018,349 persons obtained lawful permanent resident status in year 2022 compared to 740,002 persons in 2021, which is 37.6% y-o-y increase.
Key Players
Major vendors in the fingerprint sensor companies include Shenzhen Goodix Technology Co., Ltd. (China), Fingerprints (Sweden), Synaptics Incorporated (US), Apple Inc. (US) NEXT Biometrics (Norway), Novatek Microelectronics Corp. (Taiwan), Qualcomm Technologies, Inc. (US) among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/fingerprint-sensors-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/fingerprint-sensors.asp
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Artificial Intelligence
Cloud Analytics Market worth $118.5 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, May 27, 2024 /PRNewswire/ — The market for cloud analytics has a promising future because of the acceptance of real-time analytics, the expansion of big data and IoT, and the integration of AI and machine learning. Its adoption across multiple industries will be further accelerated by improved security, edge computing integration, and user-friendly platforms that prioritise data-driven decision-making and customised customer experiences.
The Cloud Analytics Market is estimated to grow from USD 35.7 billion in 2024 to USD 118.5 billion in 2029, at a CAGR of 27.1% during the forecast period, according to a new report by MarketsandMarkets™. Cloud analytics revolutionizes data storage and analysis by harnessing the power of the cloud. By storing and analyzing data in the cloud, businesses can extract actionable insights crucial for both SMEs and large enterprises. This approach facilitates identifying patterns, predicting future outcomes, and gaining valuable insights. Cloud analytics offers an opportunity to consolidate data and convert it into actionable intelligence while reducing procurement and maintenance costs. It involves utilizing both cloud-stored data and the rapid computing power of the cloud for faster analytics. However, with cloud infrastructure, organizations gain access to scalable, secure, and efficient data storage and processing solutions, enabling them to meet the demands of big data and drive innovation.
Browse in-depth TOC on “Cloud Analytics Market”
333 – Tables 66 – Figures342 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering, Data Type, Data Processing, Vertical, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), Google (US), Microsoft (US), Teradata (US), Salesforce (US), AWS (US), NetApp (US), Qilk (US), Sisense (US), SAP (Germany), Atos (France), Altair (US), Microstrategy (US), Tibco Software (US), Hexaware Technologies (India), Zoho (India), Rackspace Technology (US), Splunk (US), Cloudera (US), Domo (US), Hewlett Packard Enterprise (US), Incorta (US), Tellius (US), Rapyder (US), Hitachi Vantara (US), Board International (Switzerland), Ridge (Israel), Jaspersoft (US), Yellowfin (Australia), Deonodo (US), GoodData (US), Thoughtspot (US), and Infogain (US)
By offering the services segment to account for higher CAGR during the forecast period
Services segment in the Cloud Analytics Market have experienced remarkable growth in the Cloud Analytics Market, fueled by the increasing adoption of data-driven decision-making across industries. These services offer businesses the capability to analyze vast amounts of data stored in the cloud swiftly and efficiently, enabling them to extract valuable insights for strategic planning, optimization, and innovation. With the scalability and flexibility of cloud infrastructure, analytics services can accommodate diverse data types and analytical workloads, empowering organizations to derive actionable intelligence from their data in real time. As businesses continue to prioritize agility and competitiveness, the demand for cloud analytics services is expected to soar, driving further innovation and expansion in the Cloud Analytics Market landscape.
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By Type, advanced analytics solution is expected to hold the largest market size for the year 2024
The surge in advanced analytics adoption within the Cloud Analytics Market is reshaping the landscape of data-driven decision-making. Organizations across diverse sectors are increasingly turning to advanced analytics solutions hosted on cloud platforms to extract deeper insights from their data. This trend stems from the growing realization that traditional analytics methods are no longer sufficient to cope with the complexities of modern data ecosystems. Advanced analytics, powered by machine learning algorithms, predictive modeling, and AI, offer unparalleled capabilities to uncover hidden patterns, forecast trends, and optimize business processes. By leveraging the scalability, flexibility, and cost-effectiveness of cloud infrastructure, businesses can access powerful analytics tools without the burden of hefty upfront investments in hardware and software. As a result, the Cloud Analytics Market is witnessing rapid expansion, fueled by the transformative potential of advanced analytics in driving innovation, enhancing operational efficiency, and gaining a competitive edge in today’s data-driven economy.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The healthcare and life sciences sector is experiencing a transformative shift with the emergence of cloud analytics. This technology integrates vast amounts of data from various sources, including electronic health records, wearable devices, and genomic information, to derive meaningful insights and drive informed decision-making. Cloud analytics offers scalability, flexibility, and cost-effectiveness, enabling organizations to efficiently manage and analyze massive datasets that were previously challenging to handle. By leveraging advanced analytics techniques such as machine learning and predictive modeling, healthcare providers and life sciences companies can enhance patient care, optimize clinical workflows, and accelerate drug discovery processes. Moreover, cloud-based analytics facilitates collaboration among researchers, clinicians, and stakeholders, fostering innovation and driving advancements in personalized medicine and population health management. As the industry continues to embrace digital transformation, cloud analytics stands as a cornerstone for unlocking the full potential of data-driven healthcare and life sciences initiatives.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia Pacific region is experiencing a significant surge in the adoption of cloud analytics, reshaping how businesses make data-driven decisions. Companies spanning various industries are embracing cloud-based analytics platforms to optimize operations, foster innovation, and gain actionable insights. Additionally, the ubiquitous nature of mobile devices and internet connectivity has heightened the demand for real-time analytics accessible from anywhere. Governments and enterprises recognize the strategic value of harnessing analytics to maintain competitiveness in the global marketplace. Consequently, investments in cloud analytics technologies and talent development are escalating, positioning the Asia Pacific region as a pivotal player in the global cloud analytics landscape.
Top Key Companies in Cloud Analytics Market:
The significant cloud analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), Google (US), Microsoft (US), Teradata (US), Salesforce (US), AWS (US), NetApp(US), Qilk(US), Sisense (US), SAP (Germany), Atos (France), Altair (US), Microstrategy (US), Tibco Software (US), Hexaware Technologies (India), Zoho (India), Rackspace Technology (US), Splunk (US), Cloudera (US), Domo (US), Hewlett Packard Enterprise (US), Incorta (US), Tellius (US), Rapyder (US), Hitachi Vantara (US), Board International (Switzerland), Ridge (Israel), Jaspersoft (US), Yellowfin (Australia), Deonodo(US), GoodData(US), Thoughtspot (US), and Infogain (US). These companies have used organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Cloud Analytics Market.
Recent Developments:
In January 2024, Salesforce unveiled fresh Commerce Cloud tools leveraging generative AI and data-driven insights, enhancing every customer interaction for heightened loyalty and revenue growth.In February 2024, IBM and Wipro strengthened their collaboration to offer clients expanded AI services and support. This collaboration aims to utilize AI technologies to tackle various business challenges and foster innovation across industries.In June 2023, Salesforce and Google formed a partnership. The partnership between Salesforce and Google focuses on integrating Google’s AI capabilities into Salesforce’s products, enhancing their analytics offerings.In May 2023, Microsoft launched Microsoft Fabric Data Analytics which is a cutting-edge platform tailored for the AI era, facilitating seamless integration of analytics and AI capabilities into data processing workflows. It streamlines data ingestion, preparation, and analysis, enabling organizations to derive actionable insights efficiently.In August 2022, Teradata introduced VantageCloud Lake, a cloud-native service designed to simplify data lakes for businesses, enabling seamless management and analytics of vast data sets.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=959
Cloud Analytics Market Advantages:
Platforms for cloud analytics offer scalable resources, making it simple for companies to modify their requirements for storage and processing power in response to demand. Because of its adaptability, businesses may manage different data volumes without having to make costly infrastructure investments.Businesses can lower their capital hardware and software costs by utilising cloud analytics. Pay-as-you-go cloud service pricing allows businesses to optimise their total IT expenditure by only paying for the resources they really utilise.Compared to on-premises systems, cloud analytics solutions may be implemented and deployed far more quickly. This speedy deployment shortens the time to insight, allowing companies to begin data analysis and value extraction right away.Platforms for cloud-based analytics enable remote access to analytics tools and data from any location with an internet connection. Team members can collaborate on data projects regardless of location thanks to this accessibility, which fosters teamwork.Advanced analytics features like machine learning, artificial intelligence, and predictive analytics are frequently included in cloud analytics solutions. Organisations can gain deeper insights and make better decisions with the aid of these technologies.Businesses can analyse data as it is generated with the use of cloud analytics solutions, which provide real-time data processing and analytics. Applications that need instant insights, like fraud detection, operational monitoring, and customer engagement, depend on this real-time capacity.Platforms for cloud analytics can easily interface with a range of data sources, such as databases, data lakes, outside apps, and Internet of Things gadgets. A unified perspective of corporate operations and thorough data analysis are guaranteed by this integration capabilities.Report Objectives
To define, describe, and predict the Cloud Analytics Market by offering, data type, data processing, vertical, and regionTo describe and forecast the Cloud Analytics Market, in terms of value, by region—North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall Cloud Analytics MarketTo profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leadersTo analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the Cloud Analytics MarketTo provide the illustrative segmentation, analysis, and projection of the main regional marketsBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Get access to the latest updates on Cloud Analytics Companies and Cloud Analytics Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee Road Suite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
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Artificial Intelligence
PolyU research finds improving AI large language models helps better align with human brain activity
HONG KONG, May 27, 2024 /PRNewswire/ — With generative artificial intelligence (GenAI) transforming the social interaction landscape in recent years, large language models (LLMs), which use deep-learning algorithms to train GenAI platforms to process language, have been put in the spotlight. A recent study by The Hong Kong Polytechnic University (PolyU) found that LLMs perform more like the human brain when being trained in more similar ways as humans process language, which has brought important insights to brain studies and the development of AI models.
Current large language models (LLMs) mostly rely on a single type of pretraining – contextual word prediction. This simple learning strategy has achieved surprising success when combined with massive training data and model parameters, as shown by popular LLMs such as ChatGPT. Recent studies also suggest that word prediction in LLMs can serve as a plausible model for how humans process language. However, humans do not simply predict the next word but also integrate high-level information in natural language comprehension.
A research team led by Prof. Li Ping, Dean of the Faculty of Humanities and Sin Wai Kin Foundation Professor in Humanities and Technology at PolyU, has investigated the next sentence prediction (NSP) task, which simulates one central process of discourse-level comprehension in the human brain to evaluate if a pair of sentences is coherent, into model pretraining and examined the correlation between the model’s data and brain activation. The study has been recently published in the academic journal Sciences Advances.
The research team trained two models, one with NSP enhancement and the other without, both also learned word prediction. Functional magnetic resonance imaging (fMRI) data were collected from people reading connected sentences or disconnected sentences. The research team examined how closely the patterns from each model matched up with the brain patterns from the fMRI brain data.
It was clear that training with NSP provided benefits. The model with NSP matched human brain activity in multiple areas much better than the model trained only on word prediction. Its mechanism also nicely maps onto established neural models of human discourse comprehension. The results gave new insights into how our brains process full discourse such as conversations. For example, parts of the right side of the brain, not just the left, helped understand longer discourse. The model trained with NSP could also better predict how fast someone read – showing that simulating discourse comprehension through NSP helped AI understand humans better.
Recent LLMs, including ChatGPT, have relied on vastly increasing the training data and model size to achieve better performance. Prof. Li Ping said, “There are limitations in just relying on such scaling. Advances should also be aimed at making the models more efficient, relying on less rather than more data. Our findings suggest that diverse learning tasks such as NSP can improve LLMs to be more human-like and potentially closer to human intelligence.”
He added, “More importantly, the findings show how neurocognitive researchers can leverage LLMs to study higher-level language mechanisms of our brain. They also promote interaction and collaboration between researchers in the fields of AI and neurocognition, which will lead to future studies on AI-informed brain studies as well as brain-inspired AI.”
Media ContactMs Annie WongSenior Manager, Public AffairsTel: +852 3400 3853Email: [email protected]
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