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With 13.5% CAGR, Digital Lending Market Size worth USD 22.4 Billion by 2028 | Vantage Market Research

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WASHINGTON, May 09, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Digital Lending Market finds that the factors such as, government engagement towards digital lending, escalating demand for smartphones & rapid digitalization, greater visibility & options for borrowers & lenders, huge digital lending demand in MSMEs platform and huge growth of digital lending in pandemic period are augmenting the maximum growth for Digital Lending Market over projected years. However, high preference for traditional lending methods is a major obstacle in the growth of Digital Lending Market during forecast period. Whereas, increasing use of advance technologies in digital lending platform will create various growth opportunities for Digital Lending Market in the coming years.

The total Global Digital Lending Market is estimated to reach USD 22.4 Billion by the year 2028 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 13.5%, states Vantage Market Research, in a report, titled “Digital Lending Market Size, Share & Trends Analysis Report by Offering (Solutions, Services), by Deployment Mode (Cloud, On-premises), by End User (Banks, Credit Unions, NBFCs), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. The Global Digital Lending Market revenue stood at a value USD 10.5 Billion in the year 2021.

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  • The report analyzes the Digital Lending market competitive landscape and offers information on several market vendors.
  • An Exclusive study come up with Vantage Market Research experienced researchers projected value of USD 22.4 Billion at a CAGR of 13.5%.
  • It offers additional highlights and key points on various market segments and their impact in the coming years.
  • The sample report includes Latest Drivers and Trends in the Market.
  • Comprehensive information on factors that will assist Digital Lending market growth during the next five years.
  • The report offers predictions on upcoming trends and changes in consumer behavior.
  • Comprehensive study involving market types, application and end-users.
  • To understand more about Market Dynamics, get access to our free sample report.

Market Dynamics:

Drivers:

Changing Consumer Expectation and Behaviour for Using Digital Platform Drives the Market Demand

Many consumers require various types of loan such as, personal loan to home loan and many other. And with the help of digital banking and financial operations, it is quite easy to take loan instantly. In addition, digitization in banking and financial services provides various benefits that helps these consumers to fulfill their expectations. In order to meet customer expectations, the digital lending providers gives more focus in enhancing their offerings. Therefore, changing consumer demand and expectation fuels the growth of Digital Lending Market in coming years. In addition, increasing use of smartphones across globe also provides hassle free processing of loan from anywhere. Thus, rapid increase in smartphone users is also responsible for augmenting the growth of Digital Lending Market in years to come.

The Digital Lending Market Covers the Following Key Insights & Findings:

  • Exclusive Summary: Basic statistics on the global Digital Lending market.
  • The Changing Effect on Market Dynamics: global part provides driving factors, trends, challenges and opportunities; post-COVID analysis.
  • View 2022-2028 by type, end user and region/nation.
  • Evaluate industry by market segments, countries/regions, manufacturers/companies, revenue share and sales of these companies in these various regions of major countries/regions (2022-2028).
  • Understand the structure of the Digital Lending market by identifying its various sub-segments.
  • Researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
  • It offers massive data about the trending factors that will influence the progress of the market.
  • In-depth understanding of Digital Lending Market drivers, restraints, and major micro markets.
  • Regional analysis: Asia Pacific Region to Stand Firm on its Leading Position in the industry.
  • Free Report Customization: This report can be customized according to specific client needs.
  • Key Strategic Developments: The study also includes the key strategic developments of the market, new product launch, comprising R&D, mergers and acquisitions, collaborations, joint ventures, agreements, partnerships, and regional growth of key competitors operating in the market globally and regionally.

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  • Customer Satisfaction: Our team of experts assists you with all your research needs and optimizes your reports.
  • Analyst Support: Before or after purchasing the report, ask a professional analyst to address your questions.
  • Assured Quality: Focuses on accuracy and quality of reports.
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Segmentation of the Global Digital Lending Market:

  • Offering
    • Solutions
    • Services
  • Deployment Mode
    • Cloud
    • On-Premises
  • End User
    • Banks
    • Credit Unions
    • NBFCs
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/digital-lending-market-1542

Increasing Adoption of Advance Technologies Drives the Market

Increasing adoption of digital banking platform due to the increased use of smartphones also increases the Digital Lending Market demand. In order to process huge customer information, various digital lending platform providers uses advance technologies such as, Machine Learning, Artificial Intelligence, and Cloud Computing in their product. For Instance, Kabbage, an online financial technology company, uses AI algorithms in order to assess all risks of lending money to a certain customer and provides loan facility in minimum time period. Thus, increasing adoption of advance technologies in baking and finance sector propels the growth of Digital Lending Market over projected years.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The Report on Digital Lending Market Highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

North America Holds Maximum Market Share

North America is accounted to have maximum share for Digital Lending Market in 2021. This growth is majorly accounted owing to the large presence of digital lending providers in this region. In addition, this region is an early adopter for latest technologies and therefore, there is huge demand for digital and end-to-end financial solutions. The availability of large mobile workforce helps financial institutions to digitalize their work and enhance customer services.

Asia Pacific is expected to witness the fastest growing region for Digital Lending Market during forecast period. This surge is attributed to the government engagement in order to promote digital infrastructure in this region. In addition, increasing economic developments, globalization, digitalization, and rapid proliferation of smartphones are some major factors that augmenting the growth for Digital Lending Market in this region.

List of Prominent Players in the Digital Lending Market:

  • Fiserv (US)
  • ICE Mortgage Technology (US)
  • FIS (US)
  • Newgen Software (India)
  • Nucleus Software (India)
  • Temenos (Switzerland)
  • Pega (US)
  • Sigma Infosolutions (India)
  • Intellect Design Arena (US)
  • Tavant (US)
  • Docutech (US)
  • Cu Direct (US)
  • Abrigo (US)
  • Wizni (US)
  • Built Technologies (US)
  • Turnkey Lenders (US)
  • Finastra (UK)
  • Rupee Power (India)
  • Roostify (US)
  • Juris Tech (Malaysia)
  • Decimal Technologies (India)
  • HES Fintech (Belarus)
  • ARGO (US)
  • Symitar (US)
  • Edge Verv (India)
  • TCS (India)
  • Wipro (India)
  • SAP (Germany)
  • Oracle (US)
  • BNY Mellon (US)
  • Black Knight (US)

Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on “Digital Lending Market Size, Share & Trends Analysis Report by Offering (Solutions, Services), by Deployment Mode (Cloud, On-premises), by End User (Banks, Credit Unions, NBFCs), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/digital-lending-market-819162

Recent Developments:

July, 2021: Newgen Software introduced its new digital transformation platform, Newgen ONE. This platform is basically providing the segregation of unstructured information and improve customer engagement.

May, 2020: FIS introduced its new FIS Portal to help small businesses with loan forgiveness. It implements the FIS Real-time Lending Platform to automate and optimize the PPP loan forgiveness process.

Key Questions Answered in Digital Lending Market Report:

  • Which manufacturing technology is used for Digital Lending Market?
  • What developments are happening in that technology?
  • What trends are causing these developments?
  • Who are the global key players in this market?
  • What are your company profile, your product information and contact information?
  • What was Global Market Status of Digital Lending industry?
  • What was capacity, Production Value, Cost and PROFIT of Market?
  • What is current Market Status Digital Lending Industry?
  • What is the market competition in this industry, both company and country wise?
  • What’s Market Analysis of Market by Taking Applications and Types in Consideration?
  • What should be Entry Strategies, Economic Impact Countermeasures, and Marketing Channels for Digital Lending industry?

This market titled “Digital Lending Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2021
Historic Years 2016-2020
Forecast Years 2022-2028
Segments Covered • Offering

   ° Solutions

   ° Services

• Deployment Mode

   ° Cloud

   ° On-Premises

• End User

   ° Banks

   ° Credit Unions

   ° NBFCs

• Region

   ° North America

   ° Europe

   ° Asia Pacific

   ° Latin America

   ° Middle East & Africa

Region & Counties Covered • North America

   ° U.S.

   ° Canada

   ° Mexico

• Europe

   ° U.K

   ° France

   ° Germany

   ° Italy

   ° Spain

   ° Rest Of Europe

• Asia Pacific

   ° China

   ° Japan

   ° India

   ° South Korea

   ° South East Asia

   ° Rest Of Asia Pacific

• Latin America

   ° Brazil

   ° Argentina

   ° Rest Of Latin America

• Middle East & Africa

   ° GCC Countries

   ° South Africa

   ° Rest Of Middle East & Africa

Companies Covered • Fiserv (US)

• ICE Mortgage Technology (US)

• FIS (US)

• Newgen Software (India)

• Nucleus Software (India)

• Temenos (Switzerland)

• Pega (US)

• Sigma Infosolutions (India)

• Intellect Design Arena (US)

• Tavant (US)

• Docutech (US)

• Cu Direct (US)

• Abrigo (US)

• Wizni (US)

• Built Technologies (US)

• Turnkey Lenders (US)

• Finastra (UK)

• Rupee Power (India)

• Roostify (US)

• Juris Tech (Malaysia)

• Decimal Technologies (India)

• HES Fintech (Belarus)

• ARGO (US)

• Symitar (US)

• Edge Verv (India)

• TCS (India)

• Wipro (India)

• SAP (Germany)

• Oracle (US)

• BNY Mellon (US)

• Black Knight (US)

Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on [email protected] or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

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Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT

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HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.

Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’

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– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.

The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.

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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
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 Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
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About MarketsandMarkets™
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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.
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