ICT News World

The mushrooming popularity of organic foods is one of the major factors driving the demand for vertical farming across the world. Nowadays, people are increasingly preferring organic foods, on account of their greater nutritional content than the non-organic foods. Vertical farming assists in producing organic foods and substantial assortment of organic crops.  Moreover, this farming method ensures that crops are easily accessible in various demand-specific areas, which is further boosting its popularity all over the world. Besides, the growing requirement for food products and greater agricultural productivity is also driving the demand for vertical farming.  Moreover, the increasing focus of people toward reliable production of crops irrespective of weather and climatic conditions is also propelling the need for eco-friendly vegetables and fruits. The governments of several countries are encouraging the production of organic foods via the adoption of organic pesticides. The...

From $37.0 billion in 2019, the augmented reality (AR) and virtual reality (VR) market revenue is predicted to surge to $1,274.4 billion by 2030, exhibiting a CAGR of 42.9% from 2020 to 2030 (forecast period). The market is being driven by the mushrooming adoption of AR and VR technologies in the healthcare, gaming, education, and entertainment sectors.  In addition, the plunging costs of these technologies, owing to various advancements, are also propelling their popularity across the world. Technological advancements in the field of optics, including light-field technology, are expected to drive the development of affordable compact, and flexible displays for headsets and smart glasses.  Currently, the players operating in the market are offering software development kits (SDKs) to application developers at extremely affordable prices. Owing to the increasing adoption of these technologies, the prices of products will plunge sharply in the upcoming years. Further, several bu...

With the generation and utilization of huge amounts of data across the world, a large number of mission-critical assets such as enterprise information, databases, and applications are becoming highly vulnerable to unauthorized access. Moreover, the conventionally used wide-area network (WAN) solutions don’t have the capability to protect the network from various security threats and provide adequate security for several cloud applications. This is fueling the demand for software-defined WAN (SD-WAN) solutions as they assist in measuring and monitoring network traffic. Moreover, these solutions enable the information technology (IT) professionals to gain deeper visibility into WAN, which, in turn, helps them quickly identify the location of a security attack, thereby ensuring greater protection of various enterprise software and operations. Besides these factors, the increasing use of big data and the internet of things (IoT) is also fueling the demand for SD-WAN solutions across the gl...

Factors such as the increasing funding by various governments and private companies in the field of quantum computing and the surging focus on establishing standards for quantum technology are expected to drive the growth of the quantum computing market at a CAGR of 33.1% during the foreseeable period (2020–2030). According to P&S Intelligence, the market size is projected to reach $1,866.8 million by 2030 from $89.6 million in 2019. Moreover, government organizations and other bodies are offering several initiatives to support and promote the commercialization of quantum computing. The surging funding by various governments and private companies in the field of quantum computing is one of the main factors boosting the quantum computing market growth . In recent years, there has been a significant increase in government initiatives helping quantum information processing, such as funding from governments in research and development (R&D) activities in this field. For instance, t...

Rapid advancements in smart security technology have resulted in the large-scale adoption of residential security products across the world. The deployment of new smart security solutions in residential structures allows end users to exercise more control over their property. Additionally, these solutions also facilitate energy savings. The increasing adoption of advanced security solutions will, therefore, help the residential security market advance at a CAGR of 8.7% during 2017–2023. According to P&S Intelligence, the market will generate $60,765.2 million revenue by 2023. In recent years, the emergence of wireless technologies has become a prominent trend, because they facilitate easy installation of complex home security systems. Wireless home security solutions offer improved service to occupants, by providing more accessible monitoring points than wired security systems. Furthermore, the soaring popularity of do-it-yourself (DIY) residential security solutions will also of...

Businesses with the lowest tolerance for data loss and downtime and a huge requirement for independent security certification and regular audits will fuel the demand for low-code development platform solutions as such audit and certification apps run on low code-based apps. Additionally, these platforms also simplify the operations of enterprises by enabling app developers to create objective specific apps for business organizations. Moreover, these platforms also aid programmers in expediating the development cycle by automating manual tasks. Thus, the increasing popularity of workflow automation with the assistance of low-code automation systems, owing to the aforementioned benefits offered by them, will help the low-code development platform market witness a notable CAGR of 31.3% during 2020–2030. According to P&S Intelligence, the market revenue stood at $12,500.6 million in 2020 and it will reach $190,792.6 million by 2030. Besides, the mounting focus of enterprises on reduci...

Augmented reality (AR) and virtual reality (VR) technologies are reaching the masses through various platforms, such as tablet computers and smartphones. With the surging adoption of such consumer electronic devices, they are becoming a potential hardware interface for associated applications. In recent years, technological innovations in such devices have helped in reducing the prices of AR and VR solutions. Moreover, the rapid advancements being made in the domain of optics, including light-field technology, will lead to the development of flexible, affordable, and compact displays for smart glasses and headsets, which will further amplify the use of such solutions in the coming years. Additionally, the rising adoption of such technologies among enterprises will also accelerate the AR and VR market at 42.9% CAGR during the forecast period (2020–2030). The market generated a revenue of $37.0 billion in 2019 and it is expected to reach $1,274.4 billion revenue by 2030. Business organiz...

Business organizations across industries are increasingly adopting automation solutions, as they help achieve optimal efficiency, reduce operational costs, and improve productivity. The automation of information technology (IT) departments facilitates the installation of missing patches through automated workflows, to avoid the requirement for manual remediation. Thus, the increasing deployment of automated solutions in IT departments of businesses will facilitate the adoption of patch management software, globally. Additionally, automation of enterprises will also create an extensive requirement for training, consulting, integration and support, data protection, cloud computing, software development, and network security services. Moreover, the surging need to mitigate vulnerabilities in the software will drive the patch management market at a healthy CAGR of 17.8% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $535.4 million in...

When the COVID-19 pandemic took a serious form, putting the world under a lockdown seemed the best option to mitigate its spread. This resulted in work-from-home policies, which a lot of companies are still following in 2021 and may continue to follow for a significant time in 2022. Moreover, since people were not allowed to step out of their homes except for essential stuff, the traffic on the internet rose massively, as people began watching news and movies, listening to songs, playing video games, and shopping online. For the convenience of users and seeing the increasing penetration of the internet and smartphones, companies are coming up with mobile and desktop applications. This is one of the key reasons P&S Intelligence forecasts that the aPaaS market revenue will grow from $6,023.3 million in 2020 to $22,687.3 million by 2030, at a 14.2% CAGR between 2021 and 2030 (forecast period). This is because developing mobile and desktop applications is an expensive and time-taking ...

From $2,078.3 million in 2020, the global robotic process automation market revenue is expected to surge to $45,982.0 million by 2030. According to the predictions of the market research firm, P&S Intelligence, the market will progress at a CAGR of 36.3% from 2020 to 2030 (forecast period). This consequently allows human employees to focus on important tasks, such as client handling.  The market is being driven by the burgeoning need for virtual workforces and the rising adoption of robotic process automation, on account of its ability to provide higher efficiency, improved customer experience, and greater ease in handling business operations. Robotic process automation (RPA) software assists businesses in increasing their efficiency, as it can smoothly run in the background 24*7, which subsequently leads to the mechanization of back-end processes.  For example, IBM Corporation entered into a partnership with Automation Anywhere Inc. in 2017 to aid enterprises in digitizin...

The smart learning market growth will be driven by factors such as increasing adoption of tablets and smartphones for accessing online courses, rising penetration of connected devices, spurring demand for customized education among students, soaring adoption of advanced technologies like machine learning (ML) and natural language processing (NLP), and escalating requirement for automating administrative tasks, in the education sector.  Moreover, the growing bring-your-own-device (BYOD) culture in educational institutes and workplaces, surging focus on interactive learning, and mounting investments in educational infrastructure will also support the market growth in the coming years. The surging penetration of the internet and smartphones is expected to fuel the market growth during the forecast period (2020–2030).  As per the International Telecommunication Union (ITU), there were around 4.0 billion internet users, in 2019, across the world. The users accounted for over 51% of...