Transparency Market Research has released a new report that predicts that the home security market will quadruple in the next few years, climbing from $17.8 billion in 2019 to $81 billion in 2027. Those figures represent an astronomical CAGR of approximately 21 percent. The research firm attributes much of that growth to the increasing availability…
MarketsandMarkets has released a new report that suggests that the international market for emotion detection and recognition technology will double within the next four years. The firm specifically predicts that the market will climb from $21.6 billion in 2019 to $56 billion by 2024, a figure that represents a CAGR of 21 percent. The emotion recognition market includes…
According to a new report by global research and advisory company Technavio, the global augmented reality (AR) market is expected to grow by $76.99 billion in the period between 2020-2024. The growth in the market is expected to receive a boost from the growing AR-enabled smart glasses market. Smart glasses add contextual information using AR…
Grand View Research has released a new report that predicts that the international automotive finance market will climb to $344.1 billion by 2026. However, the impressive figure does not necessarily represent astronomical growth, and corresponds to a modest CAGR of 6.7 percent. The automotive finance market covers the ecosystem of financial providers that allow everyday consumers…
A new report from Allied Market Research (AMR) suggests that corporate intelligence will be more valuable than ever heading into the next decade. The research firm specifically predicts that the Analytics as a Service market will reach $126.48 billion by 2026. That figure represents an astounding CAGR of 38.1 percent for the years between 2019 and…
A new report from Juniper Research suggests that biometric technology will revolutionize the mobile payments industry over the next few years. The firm predicts that consumers will use biometric authentication to conduct $2.5 trillion in payment transactions on mobile devices by 2024. That number represents a massive 1,000 percent increase over the comparable $228 billion…
Allied Market Research (AMR) has released a new report that suggests that the enterprise Artificial Intelligence market will grow at an astronomical rate for the next few years. The value of the market will climb from $4.68 billion in 2018 to $53.06 billion by 2026, displaying a phenomenal CAGR of 35.4 percent throughout a forecast period…
A new report from VynZ Research predicts that the market for conversational AI tech will climb to $16.2 billion between 2019 and 2024. That figure represents a CAGR of 29.2 percent for the time period in question. Conversational AI can be used for a wide range of purposes, including onboarding and customer support, though VynZ…
According to a new report published by MarketsandMarkets, the global Speech-to-Text Application Program Interface (API) market is set to grow from $1.6 billion in 2019 to $4.1 billion by 2024, with a Compound Annual Growth Rate (CAGR) of 20.6% during the forecasted period. Some major factors fueling this growth have been the growing use of…
A new report from Grand View Research is predicting significant growth for the vehicle access control market over the next several years, with biometric technology poised to play an important role. The overall market is forecast to reach a value of $17.3 billion by 2025, reflecting a CAGR of 10.6 percent for the 2019-2025 forecast…
Fortune Business Insights (FBI) has released a new report on the voice and speech recognition market, projecting that the market will grow from $6.89 billion to $28.34 billion between 2018 and 2026. The market is expected to display a CAGR of 19.8 percent during that period. FBI credits a number of different factors for the expected growth,…
Fortune Business Insights has released a new report that suggests that the 5G infrastructure market is primed to explode in the next few years. The report predicts that the market will grow at an astonishing CAGR of 76.29 percent between 2018 and 2026, climbing from $720.6 million to $50.64 billion during the forecast period. The…
“For instance, cameras that can read license plates will enable automated toll collection, while cars with machine vision capabilities would be able to identify cyclists and pedestrians and stop them accordingly…” ResearchAndMarkets.com has released a new report on the machine vision market that forecasts growing demand for 2D and 3D machine vision technology leading up…
Artificial Intelligence is going to play an increasingly important role in healthcare in the coming years, according to a new market forecast from Technavio. The firm predicts that the global healthcare AI market will see a CAGR of 28 percent between 2019 and 2023. This is part of a larger digitization trend underway in the…
A new report from Grand View Research predicts that the market for Anti-Money Laundering (AML) technology will hit $1.99 billion by 2025, growing from $857.2 million in 2018 with a CAGR of 13.6 percent. The market is expected to grow as various organizations look to clamp down on the threat of financial crime and keep up…
Home automation market will hit $116.26 billion by 2026 Transparency Market Research (TMR) has released a new report that forecasts major growth for the home automation market. The report predicts that the market will hit $116.26 billion by 2026, with a CAGR of 6.8 percent over the forecast period. The $116 billion figure represents a…
A new report from Transparency Market Research (TMR) predicts that the Identity-as-a-Service (IDaaS) market will hit $26.2 billion by 2027, with a CAGR of 26 percent during that period. The increasing demand for authentication and document verification technology is expected to fuel much of that growth as technology allows for the creation of more secure…
“Notably, despite the growing popularity of facial recognition in consumer technology since Apple helped to popularize selfie authentication with its Face ID system, MarketsandMarkets points to demand in government, surveillance, and industry areas as being key to the modality’s growth.” The global facial recognition market will grow from an estimated value of $3.2 billion this…
The global market for e-passports is going to surge over the next few years, according to a new report from Technavio. The market research firm forecasts a CAGR of 21 percent between 2019 and 2023, equating to $23.93 billion in growth. In a report summary, a senior Technavio analyst explained that an increasing number of…
