Information & Communications Technology – Pan Market Consulting

Information & Communications Technology

The cloud computing market is was valued USD 270 billion in the year 2019. This market is expected to witness growth at a CAGR of 12.1% during the forecast period of 2020-2026.
However COVID19 has impacted many businesses across the globe. With the ongoing lockdown norms all the business are operating from home and they all are dependent on IT sectors for work from home. IT resources which are operated by cloud computing are helping this business running remotely and enhancing the data access and connectivity of people working remotely.

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The global cloud storage market accounted for a value USD 42.1 billion in 2019. Cloud storage market is projected to register growth at a CAGR of 18.7 % during forecast period.
COVID-19 has impacted all the businesses over the globe. All the organizations weather small or large enterprises are adopting cloud environments to combat with this pandemic situation. The sharing of data and daily data access becomes easier with all geographically dispersed teams. The adoption of cloud storage solutions is increasing across all enterprises due to spread of corona virus globally. The cloud storage market is estimated to record significant growth due to COVID-19.

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The global conversational AI market accounted for a value of USD 3.2 billion in 2019. The conversational AI market is projected to grow at a CAGR of 18.9% during forecast period.
COVID-19 has impacted conversational AI market significantly. The spending in global ICT is expected to decline by 5% by the end of 2020. The IT infrastructure growth has slowed down due to reduced manufacturing capacity and slowdown of hardware supply. The solution and service providing businesses are estimated to showcase decline for a short time whereas the adoption of analytics, AI, security and collaboration is expected to foresee growth in this pandemic.

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The global digital transformation market accounted for a value of 264.8 billion in 2019. The global digital transformation market is projected to register growth at a CAGR of 14.5% during the forecast period.
COVID-19 has impacted all the businesses over the globe. The corona virus outbreak has caused lockdown across the globe due to which all the businesses has to shutdown and adopt new tradition of work from home. In order to adapt to work from home all the organizations are digitally transforming. Thus digital transformation market is expected to showcase growth during the forecast period because of COVID-19.

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The edge computing market was valued USD 3.2 billion in 2019. It is expected to grow at a CAGR of 28.4% for the period of 2020-2026.
Covid19 has impacted all the business over the globe. All the organizations are now operating remotely due to lockdown and social distancing norms. The business operating remotely needs to technologies such as 5G, Edge computing and IoT to perform their function efficiently. Edge computing is also helping medical teams to reach its patient efficiently and quickly.

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The global integrated workplace management system market accounted for USD 2.1 billion in 2019. It estimated to register growth at a CAGR of 9.9% during the forecast period.
The COVID-19 has impacted the market for integrated workplace management system. For infrastructure and manufacturing companies the IWMS has become necessary requirement. However, due to lockdown the projects are halted and profitability is low for various organizations, this has made IWMS growth slower. Post COVID-19, the return of workforce has demanded IWMS solution and services with social distancing benefits and risk management capabilities for workforce safety. Moreover, the cloud-based IWMS solutions demand have been increased because of its low cost of ownership, scalability and anywhere access benefits. This is a must have requirement in the global pandemic.

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The IOT in smart cities market in 2019 valued USD 90.7 billion globally. It projected to grow at CAGR of 17.1% over the forecast period. However, Covid19 has affected the business adversely across the globe. Due to covid19 physical assistance has become a major issue as the doctors who are treating other patients are getting infected despite proper care. The Philippines Medical Association has reported the death of 9 doctors from the COVID-19. Similarly, the Italian Doctors Association has reported death of 50 doctors from COVID-19. By looking this numbers we can clearly say that encouraging tele health has become very important.

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The global IoT middleware market accounted for a value of USD 6.6 billion in 2019. Middleware market projected to register growth at a CAGR of 21.1% during forecast period.
COVID-19 has impacted all the businesses over the globe. The offices, educational institutions and manufacturing facilities etc were shutdown. Major activities were postponed due to nation wise lockdown. Work from home and social distancing has become new normal all the offices and other activities are operating through work from home. Major businesses are looking for technologies to help them in operating businesses during this pandemic situation. The main focus is shifting on remote operation of patients as the number of cases of doctors getting infected despite taking protection and care is rising across the globe. IoT helps in minimizing physical assistance and helps businesses operate remotely. This drives positive impact on IoT middleware market during forecast period due to corona virus.

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The Location Analytics Market was valued USD 9.9 Billion In 2019 is projected to grow at CAGR of 13.7% over the period of 2020 to 2026
However the current situation of Covid19 has disrupt the market immensely and forced everyone to follow certain norms like social distancing, suspended traveling and Work from home has now became the new normal. With the situation like this the use of location analytics has become very much important. Location analytics has become a tool to overcome problems like hospitals at peak capacity with shortage of ventilators, key sanitary materials and masks, as it provides insightful information for better optimization and planning of resources. Location analytics helped healthcare and government agency in mapping fatalities, active Covid19 cases and recovered cases. Location analytics solution has been proved helpful for many businesses and it is expected to see a rapid growth over the forecast period.

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The global public safety and security market accounted for a value of USD 328.9 billion in 2019. Public safety and security market projected to register growth at a CAGR of 6.1% during forecast period.
COVID-19 has impacted the public safety and security market. The outbreak of corona virus affected all the businesses around the world. The dependency on law enforcement agencies and homeland security has increased during COVID-19. Security, emergency services and others services are very much required by consumers during corona virus outbreak.

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The global smart transportation market accounted for a value of USD 75.1 billion in 2019. The global smart transportation market is expected to register growth at a compound annual growth rate of 9.1% during the forecast period.
The COVID-19 has impacted transportation business immensely. The isolation policies enforced by government across the world along with moment restriction policies worldwide have immensely affected transportation market. In many countries the fare and toll collections have been stopped. Thus, during this pandemic the transportation market will witness a significant decline during the forecast period.

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The global social media analytics market accounted for a value of USD 4.1 billion in 2019. Social media analytics market is projected to register growth at a CAGR of 20.7% during forecast period.
COVID-19 has impacted social media analytics market. The true need for data and importance of analytics has been demonstrated by this pandemic situation. The data and analytics play a major role in pandemic management. The impact of corona virus outbreak is very much negative for many businesses around the world however it created significant opportunities for social media analytics market. The real time scenario of pandemic situation can be understood using advanced technologies of analytics and social media analytics. Awareness can be spread using social media platforms. This market will register significant growth during forecast period.

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The global cloud system management market accounted for a value of USD 9.1 billion by 2019. Cloud system management market projected to register growth at a CAGR of 21.1% during forecast period.
COVID-19 has impacted all the businesses over the globe. Manufacturing units have to shut down and offices have to adopt work from home model for precautions and well-being of employee. It also helps in smooth and efficient operation. The smooth operations from remote working can be achieved through cloud based solutions. The small, medium and large organizations are adopting these solutions due to spread of corona virus across all regions. This leads to growth in cloud system management market.

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The global payment processing solutions market accounted for a value of USD 64.5 billion in 2019. Payment processing solutions market projected to register growth at a CAGR of 8.2% during forecast period.
COVID-19 has impacted payment processing solutions market. The payment processing solutions companies are focusing on development new technologies and products for achieving demand for contactless transaction due to spread of corona virus. Ecommerce sales are increasing across the globe especially the sale of groceries and heath products are increasing. According to a data released UK online retail market is increased by 200% due to COVID19. The payment processing solutions market is likely to show huge growth due to corona virus.

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The global video streaming software market accounted for a value of USD 5.0 billion in 2019.Video Streaming market projected to register growth at a CAGR of 15.5% during forecast period.
COVID-19 has impacted video streaming software market. The internet users are increasing around the world due lockdown. People are spending their time using various sources of entertainment and this resulted in high streaming of such videos.

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The global geospatial analytics market accounted for a value of 44.2 billion in 2019. Geospatial Analytics market projected to register growth at a CAGR of 11.5% during forecast period.
COVID-19 has impacted the geospatial analytics market positively. The technologies are advancing immensely around the world. Various GIS based tools are used by epidemiologists for understanding past epidemics such as Polio, Ebola etc. This is helping in understanding and analyzing the pattern of COVID-19. It is used to monitor plans and facilities available to combat epidemic. The confirmed cases are mapped to identify cause of infection and it can be used to map data for risk management. The spread of corona virus has boosts the growth of this market

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The global Mobile apps and web analytics market accounted for a value of USD 6.4 billion in 2019. Mobile apps and web analytics and Web Analytics market is projected to register growth at a CAGR of 15.1% during forecast period.
COVID-19 has impacted the Mobile apps and web analytics market globally. The outbreak of corona virus showcases the need for data analytics. Data analytics is very important for pandemic management. The corona virus has increased the demand for mobile apps. The mobile apps and web analytics market helps in understanding real-time scenario of pandemic using web and mobile apps. The healthcare and governments across the world are using mobiles to connect and communicate spread awareness about corona virus. The mobile apps and web analytics market is likely to witness significant growth due to pandemic.

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The global mobile device management market accounted for a value of 4.4 billion in 2019. Mobile device management market is projected to register growth at a CAGR of 16.0% during forecast period.
COVID-19 has impacted all the businesses across the world. In order to control the transmission of corona virus government of many countries has imposed lockdown and due to this lockdown manufacturing units have to halt its activities and offices have to adopt work from home traditions in which all company’s employees are working from remote locations outside corporate infrastructure. Many organizations have adopted BYOD policies under which employee are allowed to use their own devices for work and organizations have to give access to resources to stay productive. This made various organizations adopt MDM solutions. MDM provides management capabilities, security and helps in managing corporate devices. This pandemic has boosted growth of MDM solutions in the market.

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The global IoT solutions & services market is estimated to reach a value of USD 128.8 billion in 2019 andis projected to register growth at a CAGR of 11.4% during forecast period.
COVID-19 has impacted the IoT Solutions & Services market. The manufacturing industries have to shut down due to lockdown and the supply chain got disrupted due to travel restriction. The lockdown and travel restriction has adversely affected the automotive sector around the world. These factors lead to decline in adoption of IoT solutions. The pandemic leads to decline in growth of IoT solutions and services market but the market is likely to witness significant growth post COVID-19.

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The global blockchain market accounted for a value of USD 1.9 billion in 2019 and is projected to register growth at a CAGR of 55.5% during forecast period.
COVID-19 has impacted the blockchain market but not significantly. The blockchain helps in surveillance of public health data, donation tracking, crisis management and securing medical supply chains etc. The spending on this technology is decreasing. Although governments across various regions along with corporate organizations are focusing on deplaoying innovative solutions in order to improve consumer experience due to pandemic.

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The global data center power market accounted for a value of 16.2 billion in 2019 and is projected to register growth at a CAGR of 5.5% during forecast period.
COVID-19 has impacted the data center market. The government has imposed nation-wide lockdown in many countries and this has increased the internet traffic around the world. The internet traffic has increased 10 times than usual. The adoption of cloud based services is increasing among different organizations and some government organizations. The cloud based services are needed to store, transfer and secure the confidential data. The data center market is witnessing growth during COVID-19.

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The global geomarketing market accounted for a value of USD 9.3 billion in 2019 and is projected to register growth at a CAGR of 27.9% during forecast period.
COVID-19 has impacted the geomarketing market. The sales from physical stores have been shifted to digitals sales due to outbreak of corona virus around the globe. This leads to large scale data usage by consumers from various sectors. The technology enhancement and investment is increasing by organizations to engage customer in times of panic buying and follow stay at home guidelines. Organizations have succeeded in providing all the essential infrastructure and technology to support the customers by adopting marketing and advertising strategies by using digital media. This leads to growth of geomarketing during outbreak of corona virus.

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The global cognitive computing market accounted for a value of USD 18.4 billion in 2019 and is projected to register growth at a CAGR of 27.1% during forecast period.
COVID-19 has impacted the cognitive computing market. The major industries across the world have to halt or shift its culture to work from home due to lockdown. The adoption of different software is increasing across the world for smooth functioning. The cognitive computing largely helps in analyzing large volume of data and enables smooth functioning of organizations and with work from home culture the adoption of cognitive computing is declining. The growth of this market is likely to be sluggish due to pandemic.

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The global 5G infrastructure market accounted for a value of USD 714 million in 2019 and is projected to register growth at a CAGR of 60.9% during forecast period.
COVID-19 has impacted the 5G infrastructure market. The outbreak of corona virus has halted the progression of the 5G infrastructure in various countries. The lockdown has affected the timing of the 5G infrastructure standard finalization and various countries have postponed their 5G spectrum. The ongoing pandemic has adversely affected the numerous telecommunication operators and vendors in this business. The growth of 5G infrastructure market is likely to decline due to COVID-19.

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The global 5G services market accounted for a value of USD 47.3 billion in 2019 and is projected to register growth at a CAGR of 16.1% during forecast period.
COVID-19 has impacted the 5G services market. The outbreak of corona virus globally has delayed the 5G connectivity projects around the world. The manufacturing industries have to halt its production and supply chain of hardware is disrupted due to lockdown and travel restriction. The demand from end-users is declining rapidly declining due to outbreak of corona virus. The market is likely to witness decline in growth due to COVID-19.

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The global artificial intelligence market accounted for a value of USD 28.8 billion in 2019 is projected to register growth at a CAGR of 19.5% during forecast period.
COVID-19 has impacted the AI infrastructure market. The spending in global AI technology is expected to decline by the end of 2020. The artificial intelligence growth has slowed down due to reduced manufacturing capacity and slowdown of hardware supply. The solution and service providing businesses are estimated to showcase decline for a short time whereas the adoption of analytics, AI, security and collaboration. This market is expected to foresee growth in this ongoing pandemic.

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The global industrial cybersecurity market accounted for a value of USD 14.3 billion in 2019. Industrial cybersecurity market projected to register growth at a CAGR of 4.9% during forecast period.
COVID-19 has impacted the industrial cybersecurity market. The demand for industrial cybersecurity is rising as these services and solutions are important for organizations to secure their confidential information and data by controlling and monitoring number of process outputs and inputs at the site. The outbreak of corona virus has forced organizations to adopt operating models faster in order to ensure sustenance. The work from home has become new normal across the world and this leads to wide increase in use of cloud services and connectivity devices as it ensures smooth operations. This leads to huge requirement of cybersecurity to protect company’s data and to serve their clients during work from mode. The ongoing pandemic boosts the growth of industrial cyber security market during forecast period.

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The global connected device analytics market accounted for a value of USD 13.1 billion in 2019 and is projected to register growth at a CAGR of 19.3% during forecast period.
COVID-19 has impacted the connected device analytics. The customer behavior is immensely affected along with economies due to outbreak of corona virus. The major upcoming IoT and analytics projects are kept on hold due to COVID-19 and this is likely to intensify the competition among companies. The remote monitoring and smart payment technologies are gaining traction due to social distancing norms. The focus towards health is increasing and the demand for health related wearable is also increasing. The ongoing pandemic leads to slowdown in growth of connected device market in 2020.

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