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Handheld Point of Sales (POS) Market Surges Towards US$5.81 Billion by 2030, Reports Insights

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New York, May 09, 2023 (GLOBE NEWSWIRE) — The global handheld point of sales (POS) market is expected to experience significant growth in the coming years, driven by the increasing adoption of mobile payment solutions and the rising demand for efficient and convenient payment systems. According to the research report published by Reports Insights, the market was valued at USD 2.64 Billion in 2022 and is projected to surpass USD 5.81 Billion by 2030, with a robust CAGR of 10.6%.

List of Major Global Handheld Point of Sales (POS) Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

  • NCR Corporation
  • Oracle Corporation
  • Adyen
  • CommentSold.
  • HP Development Company, L.P.
  • Openbravo S.L.U.
  • SumUp Inc.
  • Toast, Inc.
  • VMware, Inc.
  • XTM INC.

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A handheld point of sales (POS) is a portable electronic device that allows organizations to accept payments remotely. A handheld POS is a wireless gadget that is carried by the seller to make transactions easy and convenient for the customers. Additionally, the devices include a touchscreen display, a card reader, and wireless connectivity options including Wi-Fi, Bluetooth, or cellular data. Moreover, handheld POS systems have built-in security features to protect sensitive data, including encryption and tokenization to ensure that customer data is safe and secure during the transaction process.

The growing demand for sophisticated and integrated POS systems in industries particularly retail stores is propelling the growth of the market. Handheld POS devices offer mobility to sales associates to move around the store thus, promoting the growth of the market. Additionally, handheld POS systems support a wide range of payment options, namely mobile payments, credit and debit cards, and contactless payments offering customers the flexibility to pay using the preferred method. For instance, in September 2022, CommentSold launched a point of sale (POS) system to enhance the user experience in online purchasing. The system offers a range of features, including real-time inventory management, and also supports various payment options thus driving the growth of the handheld point of sales (POS) market.

The adoption of artificial intelligence (AI) and machine learning (ML) technologies in the handheld point-of-sale (POS) industry is anticipated to create numerous opportunities for retailers and customers. AI and ML analyze data from handheld POS devices to gain insights into customers’ buying behavior and preferences. Additionally, AI and ML are also gaining applications to identify patterns of fraudulent activity and flag suspicious transactions, thus promoting the growth of the global handheld point of sales (POS) market. However, integrating new POS systems with existing business systems is a complex and time-consuming process that hinders market growth.

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Report Attributes Report Details
Market Size By 2030  USD 5.81 Billion
Forecast Period 2023-2030
CAGR (2023-2030) 10.6%
Base Year 2022
Study Timeline 2017-2030
Key Players NCR Corporation, Oracle Corporation, Adyen, CommentSold., HP Development Company, L.P., Openbravo S.L.U., SumUp Inc., Toast, Inc., VMware, Inc., XTM INC.
By Component
  • Hardware
  • Software
By End-User
  • Retail
  •  Restaurants
  •  Media & Entertainment
  •  Healthcare
  •  Others
Report Coverage Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By Geography
  • North America
  •  Asia-Pacific
  •  Latin America
  •  Europe
  •  Middle East & Africa

Key Market Highlights

  • The Global Handheld Point of Sales (POS) Market size is estimated to reach USD 5.81 Billion by 2030 and grow at a CAGR of 10.6% during the forecast period (2023-2030).
  • Globally, Handheld Point of Sales (POS) is divided based on the component into Hardware and Software.
  • Based on the End-User, the market is segregated into Retail, Restaurants, Media & Entertainment, Healthcare, and Others.
  • The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and Middle East and Africa.
  • Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Pay TV.

Handheld Point of Sales (POS) Market Growth Drivers:

  • The increasing adoption of handheld POS systems in the retail sector to offer convenience is driving the growth of the market.
  • The increasing penetration of mobile payment technologies including Apple Pay, Google Pay, and Google Wallet are also responsible for driving the growth of the handheld point of sales market.
  • The growing adoption of handheld POS in a vast variety of settings including retail shops, food trucks, and outdoor events to accept payments is also promoting market growth.

Restraints

  • Integration of new POS systems with existing business processes and systems is quite complex and time-consuming that limits the adoption of handheld POS devices.
  • Security concerns regarding the misuse of customers’ sensitive payment information is also hampering the growth of the market.

Opportunities

  • The advancements in technology including artificial intelligence (AI) and machine learning (ML) are expected to create opportunities for market growth by providing real-time insights of the transaction.

Global Handheld Point of Sales (POS) Market Segmentation Details:

Based on Components, the hardware segment contributed the largest shares to the market growth in 2022. The growth is attributed to the increasing installation of handheld POS hardware in the retail, restaurant, and banking sectors. In addition, the increasing adoption of POS systems including barcode scanners, and credit card readers is also contributing to the growth of the hardware segment. Moreover, the COVID-19 pandemic has accelerated the adoption of contactless payments leading to an increase in demand for hardware that supports digital payment methods.

Based on End-User, the retail sector accounted for the largest revenue share in the year 2022 owing to the rise in digital payments operations that increases the demand for handheld POS devices. Additionally, many retailers are adopting an omnichannel approach to sales that involves integrating online and offline sales channels to provide a seamless customer experience. Furthermore, the increasing adoption of POS systems in the retail industry for inventory management, sales tracking, and customer relationship management is also driving the growth of the handheld point of sales (POS) market.

Based on region, North American countries are the major contributors to the growth of the Handheld Point of Sales (POS) market due to the increasing adoption of mobile and cloud-based handheld POS systems. Additionally, the advancements in payment technology including the adoption of contactless payments, mobile payments, and other payment methods are also driving the growth of the regional market. Moreover, the region has several leading handheld POS players including NCR Corporation and Oracle Corporation that apply product innovations further accelerating the growth of the handheld point-of-sale market.

Latest Updated Overviews & Table Of Contents (TOC) @ https://www.reportsinsights.com/industry-forecast/global-handheld-point-of-sales-pos-market-statistical-analysis-673872

Recent Developments

  • In September 2022, Shopify launched a new handheld point-of-sale (POS) called “Shopify POS Go” with an in-built barcode scanner, card reader, and intelligent inventory tracker. The system is designed to provide a complete POS solution for retailers, with features such as inventory management, customer management, and analytics.
  • In January 2022, Adyen launched an Android-based point-of-sale (POS) terminal to process payments conveniently. The new terminals enable merchants to accept a wide range of payment methods, including contactless payments, mobile wallets, chip and PIN, and magnetic stripe cards.

Global Handheld Point of Sales (POS) Market Segmentation: 

  • By Component
    • Hardware
    • Software
  • By End-User
    • Retail
    • Restaurants
    • Media & Entertainment
    • Healthcare
    • Others

Key Questions Covered in the Handheld Point of Sales (POS) Market Report

  • What is Handheld Point of Sales?
    • A handheld point of sales (POS) or mobile point of sales is an electronic device used to process electronic payments remotely in various industries including entertainment, retail, medical, and others.
  • What specific segmentation details are covered in the Handheld Point of Sales (POS) Market report, and how is the dominating segment impacting the market growth?
    • The report consists of segments including Component and End-User. Each segment has a key dominating sub-segment being driven by industry trends and market dynamics. For instance, by component has witnessed hardware as the dominating segment in the year 2022, owing to the increasing adoption of barcode scanners and credit card readers in various industries.
  • What specific segmentation details are covered in the Handheld Point of Sales (POS) Market report, and how is the fastest segment anticipated to impact the market growth?
    • The report consists of segments including Component and End-User. Each segment is projected to have the fastest-growing sub-segment fueled by industry trends and drivers. For instance, in End-User, the restaurant sub-segment is predicted to witness the fastest CAGR growth during the forecast period. The growth is attributed to the ability of POS systems to easily manage orders, payments, and customer data, to enhance the overall customer experience.
  • Which region is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
  • Asia Pacific is anticipated to witness the fastest CAGR owing to the increasing penetration of businesses operating online and the rise in e-commerce sector in countries including India, China, Japan, and South Korea.

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About Reports Insights

Reports Insights is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports. Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Reports Insights. Our reports comprise in-depth analytical and statistical analysis of various industries in the foremost countries around the globe.

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Artificial Intelligence

Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions

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SINGAPORE, April 20, 2024 /PRNewswire/ — Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) announces the acquisition of Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite adoption of AI that is responsible, accurate, and auditable.

 
 
Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and more, to complement and strengthen Aurionpro’s industry leading portfolio.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including  secondary acquisition and fund infusion is approximately 16.5 MN USD.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company will create an industry leading Enterprise AI platform focused on creating value for financial institutions globally. 
Commenting on the acquisition, Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai marries Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are incredibly excited about working with Arya.ai and our wider ecosystem partners to build out the leading Enterprise AI platform, for the financial industry worldwide.”
“Our decade long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” Says Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embeds AI, augmenting a task or Autonomous Agents that can take over entire transactions”. 
Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been one of the first ‘AI’ startups to use Deep Learning and deploy in enterprises. Arya.ai’s BFSI PaaS offerings include Arya API with 80+ ML models, Libra for fine-tuning SOTA ML models, and AryaXAI for AI governance.
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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, 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), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics 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.
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