Legal Process Outsourcing (LPO) Market Analysis, Size and Growth to 2020

The global legal process outsourcing (LPO) market is expected to reach USD 8,568.5 million by 2020, according to a new study by Grand View Research, Inc. Cost effectiveness through outsourcing non-core legal activities is expected to be the key driving force for the market over the next six years. Additionally, LPO facilitates higher resource utilization, which is also expected to fuel industry growth over the forecast period.

Legal process outsourcing allows in-house legal counsel to work on tasks which are high-value in nature, thus driving profitability. Additionally, unanticipated legal activities can be effectively handled; LPO also helps reduce overall external spending. Security and confidentiality concerns were the major barriers to LPO adoption; however, these can be resolved with the help of strong service level agreements (SLA) among other techniques.

Global Legal Process Outsourcing (LPO) market by service, 2012 – 2020, (USD Million)

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Further key findings from the study suggest:

• Offshore LPO refers to outsourcing to service providers in other jurisdictions. Major offshore locations include India, the Philippines and South Africa. On-shore outsourcing is expected to pick up speed over the forecast period, since it is considered a relatively safer option as opposed to outsourcing offshore. It also provides benefits including a shared regulatory framework, which simplifies business processes.
• e-discovery accounted for the largest market share of over 25% in 2013. Law firms aim to outsource activities which are low-value in nature, so as to target tasks such as giving strategic legal advice. Organizations prefer to handle core tasks, and outsource transactional activities that do not require high degree of specialized knowledge. Intellectual property (IP) support, litigation support, contract drafting and review are among other service activities.
• Law firms in the U.S. and UK outsource business to domestic markets or emerging markets of Asia Pacific and RoW. Offshore outsourcing to countries such as India provides advantages in terms of cost saving, and tasks such as IP processes, document analysis and legal research are commonly outsourced there.
• Industry participants include Bodhi Global Services, CPA Global Ltd., Pangea3, Cobra Legal Solutions, LLC, Clutch Group, LawScribe, Inc., etc. LPO providers offer a variety of services, and can be divided into core LPO, KPO, or legal support service companies.

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Unified Communications Market Analysis, Size and Growth to 2020

The global unified communication market size is expected to reach USD 75.81 billion by 2020, growing at a CAGR of 16.3% from 2014 to 2020. Increasing need for integrating various communication applications into a single universal entity and Unified Communication as a Service (UCaaS) applications across various industrial verticals is expected to drive growth over the forecast period.

The industry includes various communication models such as messaging, transaction, and information system along with collaboration and interactive systems. Availability of wireless connectivity and high-speed internet is expected to drive the global unified communication market.

North America unified communications market by product, 2012-2020, (USD Million)

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Unified communication services can be on-premise, on-cloud, or hosted systems. On-premise systems are less attractive than cloud-based/hosted unified communication systems as they need well-trained staff and sufficient maintenance. Cloud-based systems are faster, require low maintenance, and provide uninterrupted scaling abilities at lower costs. The growth of cloud computing is expected to boost the market for cloud or hosted systems.

Unified communication systems help in the improvement of enterprises’ efficiency and productivity. They enable enterprises to have connected employees and optimal operational agility and eventually delivering better customer-experience. However, high capital investments and lack of standardization between different platforms are expected to pose challenges to the industry.

The enterprise unified communication market is expected to emerge as a dominant sector in the global unified communication market. This can be attributed to increasing adoption of IT in enhancing business processes and providing benefits such as mobility and collaboration. Moreover, the education and healthcare sectors are some of the other promising sectors for the industry. Unified communication application in the education sector is estimated to grow at a CAGR of over 16% from 2014 to 2020.

North America unified communication market is expected to dominate the global industry, contributing to over 35% of the overall revenue. This can be primarily attributed to the presence of sophisticated communications infrastructure in the region.

Increasing need for effective communications and collaboration along with cost savings is expected to drive the market in Asia Pacific. However, strict regulations in the regional telecom industry are expected to act as a barrier and restrict service providers to expand their business in the Asian countries.

Key companies operating in the industry include Alcatel-Lucent, Cisco, IBM, Microsoft Corp., NEC Corp., Plantronics Inc., ShoreTel, and Verizon. Cisco provides a wide range of customized UC solutions for its clients across diverse industry verticals, thus acquiring a major share of the global unified communication industry.

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ERP Software Market Analysis and Segment Forecasts to 2022

Global ERP software market is anticipated to witness tremendous gains over the next seven years on account of its increasing application in defense & aerospace, retail, and government utility sectors. The software enables organizations to function with transparency, increases productivity, and enables decision making. The industry is expected to be worth USD 48.22 billion in 2022.

ERP software as a finance function facilitates management of different financial activities including cash flow management, asset management, accounting, and investment. Finance was the largest segment of the market contributing to over 22.0% of the share in 2014 and is estimated to grow at a CAGR exceeding 7.0% from 2015 to 2022.

North America ERP software demand, by function, 2012 – 2022(USD Million)

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On-premise ERP software deployment model accounted for over 60.0% of the total revenue in 2014, owing to the various benefits offered including high data security and continuous control in the organizations, thereby reducing the dependency on third party vendors. The market was valued at USD 17.01 billion in 2014. Cloud deployment was the second largest segment in 2014 owing to the introduction of mobile devices coupled with lower infrastructure requirements.

Manufacturing & services were valued at USD 5.11 billion in 2014, capturing over 15.0% of the revenue share in 2014. This segment utilizes ERP software for a broad range of business activities including customer services, inventory management, production scheduling, day-to-day performance management, daily operations monitoring and inter-departmental collaboration. Government utilities are expected to capture a significant share due to rising adoption of IT infrastructure.

Medium-enterprises were the largest end-users, accounting for over 40.0% of the global share in 2014, owing to the factors including minimized production costs, increased operational efficiency, and timely product delivery. Stringent government regulations and compliances in organizations have augmented market demand thereby, achieving high productivity and reduced complexity.

North America contributed to over 40.0% of the revenues in the global industry and was valued at USD 11.33 billion in 2014. Increasing technological advancements and rising adoption of ERP software in the finance function by the enterprises in the region to achieve transparency in financial transactions is expected to augment the market demand.

Europe and Asia Pacific are projected to register a speedy growth in the ERP software market owing to the mounting number of enterprises and booming manufacturing industry. Government initiatives, particularly in the emerging economies of Asia Pacific for implementing IT infrastructure are expected to augment the market demand over the forecast period. Key players present in the industry includes IBM Corporation, Oracle Corporation, SAP SE, Sage Group Plc, Syspro, Unit4, Microsoft Corporation and NetSuite Inc.

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Engineering Services Outsourcing Market is Expected to Reach USD 415.74 Billion by 2020

The global engineering services outsourcing market is expected to reach USD 415.74 billion by 2020. Rising cost pressures on firms leading to constrained R&D budgets is expected to be a primary growth driver for the industry. Companies prefer to outsource the service as it enhances efficiency, improves processes, lowers time to market products. In addition, it yields cost advantages which in turn relates to profit maximization. In addition, dynamic consumer buying behavior leading to shorter product life cycle is projected to fuel market growth.

High competition among leading companies has given rise to cost reduction across companies in several industries including consumer electronics and automotive. In order to reduce costs, companies have initiated augmenting their capabilities by utilizing outsourced IT services. This further leads to cost minimization thus benefiting the company in the long run. Outsourcing engineering services allow businesses to get the most out of constrained budgets and focus on more critical issues. However, the threat of intellectual property theft is expected to hinder industry growth.

Growing dominance of telecom sector is attributed to the integration of business and operations support systems which require significant back-end equipment and expertise by the telecom industry.

ESO market share by application, 2013

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Increasing demand for consumer electronic products has resulted in leading companies expanding their service portfolio. However, smaller market players owing to their cost constraints heavily rely on engineering services outsourcing to cater growing demand. As a result, the segment is expected to witness the highest growth among other application over the projected period. Key engineering services required for manufacturing these consumer electronic devices such as embedded software development, design & testing, and development & testing are increasingly outsourced to ESO vendors, thus driving industry growth.

Asia Pacific demand for engineering services outsourcing was valued at over USD 44 billion in 2013 and is expected to experience substantial growth over the forecast period. Growth can be attributed to strong manufacturing base in the region and presence of a large talent pool. Emerging economies including India and China are projected to be leading growth in the region.

Europe is expected to grow at a CAGR of more than 25% over the period of six years owing to a high inclination among European firms to outsource engineering activities with the same country or within western European nations to ensuring regulatory compliance.

Key players in the industry include Tata ELXSI, QuEST Global, HCL Technologies Ltd, Tata Consultancy Services, Wipro, MindTree Ltd., and Infosys Ltd. Other companies include Aricent Group, VanceInfo Technologies Inc., Corp., Infotech Enterprises Ltd., Global Logic, EPAM Services, Cybage Software Pvt. Ltd., KPIT Cummins Infosystems Ltd., IGATE, and Calsoft Labs.

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Point-of-Sale (POS) Terminals Market Analysis And Growth To 2020

Growing adoption of near-field communication (NFC) technology for payments coupled with cloud computing development is estimated to drive POS terminals market growth, according to a new study by Grand View Research, Inc. Ease of use and improved return on investment (ROI) offered by these systems has favorably impacted the market. Increased demand for mobile POS (mPOS) terminals such as smart card EFT (Electronic Funds Transfer) is also estimated to drive the market.

Primary solution providers have been emphasizing on integration of traditional POS systems with capabilities such as security, digital signage, pricing and inventory in order to increase their presence in the market. This is expected to significantly contribute to POS terminals market growth. Increasing mPOS solutions adoption by small and medium businesses (SMBs) is expected to present growth opportunities to market participants.

Global POS terminals market by product, (USD Billion), 2012 – 2020

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Further key findings from the study suggest:

• Increased penetration of NFC-based smartphones is expected to increase NFC POS terminals demand. This is attributed to worldwide recognition of TCP/IP connectivity enabled terminals and increase in affordable wireless communication technologies.
• The POS software segment is expected to exhibit high growth over the forecast period due to increased demand from hospitality and retail businesses. POS software is being adopted by wholesalers in order to facilitate the procurement in line with consumer demand. Hardware dominated the market in 2013, and approval of hardware interface standards is also estimated to positively impact POS terminals market growth.
• Retail is expected to remain the major market segment over the next six years. Healthcare is expected to witness high growth over the forecast period. This is a result of increased patient data tracking services and usage in payment methods. Need for customer satisfaction coupled with effective management is expected to be the key growth driver for the hospitality sector.
• North America was the largest regional POS terminals market in 2013. Asia Pacific is expected to witness high growth due to reduction in total cost of ownership (TCO) and increased SMBs. Presence of large software base in countries such as China and India are expected to favorably impact the software segment on account of proliferation in the number of retail stores.
• Major industry participants include Ingenico SA, VeriFone Systems Inc., Toshiba TEC, HP, NCR Corporation and Dell Inc. Key growth strategies employed include building technology partnerships with other participants in the ecosystem.

For the purpose of this study, Grand View Research has segmented the global POS terminals market on the basis of product, component, application and region:

POS Terminals Product Outlook (Revenue, USD Billion, 2012 – 2020)

• Fixed POS Terminals
• Mobile POS Terminals

POS Terminals Component Outlook (Revenue, USD Billion, 2012 – 2020)

• Hardware
• Software

POS Terminals Application Outlook (Revenue, USD Billion, 2012 – 2020)

• Retail
• Hospitality
• Healthcare
• Warehouse
• Entertainment
• Others

POS Terminals Regional Outlook (Revenue, USD Million, 2012 – 2020)

• North America
• Europe
• Asia Pacific
• RoW

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Near Field Communication (NFC) Market Analysis And Segment Forecasts To 2020

The NFC market is expected to witness rapid growth across various application verticals over the forecast period, according to a new study by Grand View Research, Inc. Rapid technological advancement and high smartphone demand due to technology standardization is expected to positively impact market growth. Demand for cost effectiveness along with increasing availability of NFC-enabled smartphones is also a major market driver. In addition, the market provides opportunities to the direct mail marketing sector, which in turn may drive m-commerce and mobile payment options.

In addition to industrial and commercial applications, this technology is preferred for financial transactions. High development cost, poor infrastructure coupled with lack of consumer awareness about potential benefits may hamper market growth over the next six years. Transformation in transaction process methods along with social media engagement applications are expected to offer growth avenues for the global NFC market.

View summary of “Near Field Communication (NFC) Market Analysis Report” :http://www.grandviewresearch.com/industry-analysis/near-field-communication-nfc-market

Further key findings from the study suggest:

• The NFC market comprises non-auxiliary and auxiliary products. Non-auxiliary segment includes readers, tags and IC/chips, while auxiliary products include NFC-enabled covers, SIMs and microSD cards. NFC readers are expected to witness high growth over the forecast period, which is a result of growing application areas and demand for ticketing, access control and authentication.
• Mobile payment application is expected to remain the dominant market segment over the next six years. This can be attributed to benefits such as improved financial transparency, improved public sector servicing and reduced carbon footprint. In addition, emergence of mobile wallet payment methods has enhanced user experience against contactless cards.
• Asia Pacific is expected to witness high growth due to growing adoption of this technology in retail and transportation. Financial institutions as well as Mobile Network Operators (MNOs) have supported contactless payment facilities. Increasing use of smartphones for transaction at point of sale (POS) terminals is expected to drive the market in North America.
• Key companies operating in the NFC market include Nexperts, Infineon Technologies, Gemalto, Renesas, Sony Corporation, STMicroelectronics and Texas Instruments. Rising emphasis on vertical integration activities in order to obtain greater product reliability and optimized manufacturing throughput is estimated to be the major growth strategy.

For the purpose of this study, Grand View Research has segmented the global NFC market on the basis of product, application and region:

NFC Product Outlook (Volume, Million Units & Revenue, USD Million; 2012 – 2020)

• Auxiliary
• Non-Auxiliary
• NFC IC (Chips)
• NFC Tags
• NFC Readers

NFC Application Outlook (Volume, Million Units & Revenue, USD Million; 2012 – 2020)

• Payment
• Transportation
• Booking
• Data Sharing
• Service
• Access Control
• Others

NFC Regional Outlook (Volume, Million Units & Revenue, USD Million; 2012 – 2020)

• North America
• Europe
• Asia Pacific
• RoW

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Air Traffic Control (ATC) Equipment Market Analysis And Growth To 2020

The Global Air Traffic Control (ATC) Equipment Market is expected to reach USD 4.23 billion by 2020, according to a new study by Grand View Research, Inc. Need for construction of new airports, and expansion & modernization of the existing ones to address increasing passenger & freight traffic is expected to increase air traffic control equipment demand.

Owing to continuous need for monitoring air traffic, interruption in the activity is not feasible which makes replacement of obsolete ATC equipment a cumbersome task. In order to maintain the flow of traffic monitoring, new equipment is operated in parallel with the existing one before the latter is phased out completely, which poses a challenge to air traffic control equipment market growth.

Global Air Traffic Control (ATC) equipment market by product, (USD Million), 2012 – 2020

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Further key findings from the study suggest:

• The communications air traffic control equipment market accounted for a high revenue share in 2013 and the trend is expected to continue throughout the forecast period owing to increased need for replacement of obsolete equipment with new ones equipped with enhanced digital data communication.
• The military aircraft segment is expected to witness high demand throughout the forecast period owing to the mission-critical nature of the domain. In October 2014, Aquila, a joint venture between Thales and NATS was awarded a USD 2.36 billion contract by the UK Ministry of Defense (MOD) for transforming terminal air traffic management at military airfields.
• Europe and North America were the major air traffic control equipment regional markets in 2013, which can be attributed to increased government efforts pertaining to securing air traffic and aircraft. Asia Pacific is expected to witness high growth due to increased initiatives for efficient infrastructure.
• Leading players in the air traffic control equipment market have emphasized heavily on the enhancing equipment reliability to address minimum tolerance levels. Incorporation of effective collision avoidance system in ATC equipment is expected to be a key focus area for countering increased air traffic. Manufacturers and developers upgrade landing and navigation aids periodically to maintain safety and improve efficiency.

For the purpose of this study, Grand View Research has segmented the global air traffic control equipment market on the basis of product, application and region:

Air Traffic Control Equipment Product Outlook (USD Million, 2012 – 2020)

• Communications Equipment
• Navigation Equipment
• Surveillance Equipment

Air Traffic Control Equipment Application Outlook (USD Million, 2012 – 2020)

• Commercial Aircraft
• Private Aircraft
• Military Aircraft

Air Traffic Control Equipment Regional Outlook (USD Million, 2012 – 2020)

• North America
• Europe
• Asia Pacific
• RoW

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Enterprise Search Market Growth Over the Forecast Period

The Global Enterprise Search Market is expected to reach USD 5.02 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for solutions offering time-saving data search capabilities is expected to be a key factor driving market growth over the next six years. The need to manage large volumes of data efficiently in an organization so as to improve operational efficiency of an enterprise is also expected to propel the market through the forecast period. These solutions offer enhanced security layer that allows information access to only authorized personnel, which is also expected to fuel the enterprise search market over the forecast period. Increasing demand for several value-added services along with search capabilities due to changes in operational practices within organizations provide avenues for market growth.

Technological advancement, and emergence of cloud computing and Software as a Service (SaaS) is expected to drive market growth.

Global enterprise search market by end-use (USD Million), 2012 – 2020

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Further key findings from the study suggest:

• Banking and financial services is expected to be a high growth segment; in 2013, it accounted for over 30% of the enterprise search market. Data sharing and interconnectivity are expected to be the key factors driving growth across this segment.
• The large enterprises segment is expected to dominate the market over the next six years, which can be credited to the need to search accurate data across a vast database. Small and medium enterprises are expected to grow at a rate higher than the global average over the forecast period.
• North America emerged as the leading regional segment, it accounted for over 35% of the global enterprise search market in 2013. Technological advancements along with the presence of key industry players contributed to regional market growth.
• Key industry participants include Coveo Corp., IBM Corp., SAP AG, Oracle, Microsoft, Dassault Systemes, etc. Strategic collaborations in order to provide mass market solutions while serving niche markets remains to be a major strategic initiative.

For the purpose of this study, Grand View Research has segmented the global enterprise search market on the basis of end-use, enterprise size and region:

Enterprise Search End-Use Outlook (Revenue, USD Million, 2012 – 2020)

• Government & Commercial Offices
• Banking & Financial Services
• Healthcare
• Retail
• Others

Enterprise Search Enterprise Size Outlook (Revenue, USD Million, 2012 – 2020)

• Small Enterprises
• Medium Enterprises
• Large Enterprises

Enterprise Search Regional Outlook (Revenue, USD Million, 2012 – 2020)

• North America
• Europe
• Asia Pacific
• RoW

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Multi Protocol Labelled Switching (MPLS) Internet Protocol (IP) Virtual private network (VPN) Services Market Analysis and Growth To 2020

The Global MPLS IP VPN Services Market is expected to reach USD 26.62 billion by 2020, according to a new study by Grand View Research, Inc. Despite considerably maturing over the last five years, the market is poised for high growth on account of appreciable growth potential exhibited by managed MPLS IP VPN services. Enterprises have increasingly started incorporating MPLS IP VPN services for leveraging benefits such as cost minimization and performance maximization. The market is expected to stay buoyant as a direct consequence of declining ATM/frame relay implementation.

Convergence of video, voice, and data on a single platform from different sources and the ability to provide scalable bandwidth is expected to encourage MPLS IP VPN services adoption. As MPLS supports multipoint full-mesh connectivity, organizations adopting cloud computing to address growing concerns pertaining to network security and IT costs can easily manage multiple locations in their network.

Global MPLS IP VPN Services market by service (USD Million), 2012 – 2020

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Further key findings from the study suggest:

• IT departments of institutions such as banks and government offices wishing to maintain control over their networking and routing related decision in order to address security issues have started preferring layer 2 VPN (L2VPN) services. IT departments of enterprises which opt for outsourcing their networking and routing decisions usually prefer layer 3 VPNs (L3VPNs). Multi-branch organizations have increasingly adopted hybrid L2VPN L3VPN services based on specific requirements at individual locations.
• As MPLS offers a high Quality of Service (QoS) which is the primary requirement for VoIP, video conferencing is expected to emerge as a key application area over the forecast period. Substantial bandwidth offered by MPLS IP VPN services between the user’s equipment and the service provider’s network helps suffice VoIP’s requirements. Audio conferencing is projected to be a fast growing and profitable application sector.
• North America and Asia Pacific constituted key regional MPLS IP VPN services markets in 2013 on account of the presence of prominent market players satiating the needs of an increasing consumer base. Influx of international carriers in the North American market to serve their existing MNC clients has favorably impacted the regional MPLS IP VPN services market growth.
• Competitive solutions particularly tailored for MNCs having relatively smaller international presence are offered by prominent international MPLS IP VPN services operators such as AT&T, BT Global Services, Verizon, and Orange Business Services. After penetrating major regional markets, service providers focus on investing funds towards building backbone networks for supporting MPLS. The success of emerging MPLS IP VPN services market players hinges on establishing technical support partnerships and Network-To-Network Interface (NNI) relationships with an emphasis on customer service and flexible service offerings.

For the purpose of this study, Grand View Research has segmented the global MPLS IP VPN services market on the basis of service, application, and region:

MPLS IP VPN Service Outlook (Revenue, USD Million, 2012 – 2020)

• Layer 2 VPN (L2VPN)
• Layer 3 VPN (L3VPN)

MPLS IP VPN Services Application Outlook (Revenue, USD Million, 2012 – 2020)

• Automated Machines
• Video Conferencing
• Audio Conferencing
• Others

MPLS IP VPN Services Regional Outlook (Revenue, USD Million, 2012 – 2020)

• North America
• Europe
• Asia Pacific
• RoW

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Global Mobile Virtual Network Operator (MVNO) Market Expected To Reach USD 73.20 Billion By 2020

The Global Mobile Virtual Network Operator (MVNO) Market is expected to reach USD 73.20 billion by 2020, according to a new study by Grand View Research, Inc. Increasing global mobile subscribers and demand for data services is expected to favor market growth over the next six years. MVNOs provide differentiated services to customers by targeting niche market segments such as retail, business, roaming, etc. This helps to avoid direct competition with MNOs and also generates additional revenues for both MVNO and MNO.

MVNOs play an important role to address this segment; they buy minutes in bulk from the MNOs and sell them to their customers at discounted price. Increasing technology advancements such as LTE and 4G infrastructure are expected to provide new avenues to the MVNO market. However, lack in expertise may restrict market growth over the next six years.

View summary of “Mobile Virtual Network Operator (MVNO) Market” report @http://www.grandviewresearch.com/industry-analysis/mobile-virtual-network-operator-mvno-market

Further key findings from the study suggest:

• Global MVNO subscribers are expected to exceed 300 million by 2020, at a CAGR of 10.7% from 2014 to 2020.
• Europe was estimated to be the largest regional market in 2013, and accounted for over 40% of the global MVNO market. The regulatory framework in the EU has played a crucial role in the growth of MVNOs in the region. Countries such as the UK, France and Germany have a strong MVNO base, and are further expected to witness growth over the next six years.
• TracFone Wireless is the major MVNO operating in the U.S. Asia Pacific and Latin America markets are expected to grow at a considerable rate over the forecast period. Additionally, market players are also looking towards Africa and Middle East countries to establish themselves as MVNOs for the next six years.
• Key market participants include Virgin Mobile, Lyca Mobile, Lebara Group, PosteMobile, Tesco Mobile, Drillisch Telecom, TracFone Wireless etc. Cost effective and differentiated services are expected to be the critical success factor for industry participants. Virgin Mobile UK was the first MVNO launched in 1999; Drillisch Telecom is a key MVNO in the German market.

For the purpose of this study, Grand View Research has segmented the global MVNO market on the basis of region:

MVNO Regional Outlook (Volume, Million Subscribers & Revenue, USD Billion; 2012 – 2020)

• North America
• U.S.
• Canada
• Europe
• Germany
• Netherlands
• Italy
• UK
• Spain
• France
• Asia Pacific
• Australia
• Japan
• Singapore
• Hong Kong
• Malaysia
• Latin America
• Mexico
• Colombia
• Brazil
• MEA
• Africa

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