Declining prices of microdisplays together with the escalating demand for light weight wearable computing devices is the major force fueling the market growth. Declining prices of microdisplays has enabled manufacturers to manufacture low cost HMD prototypes, thereby enabling them to better penetrate the consumer market in price sensitive emerging economies.
Due to persistent surveillance capability coupled with low cost, the aerostat systems have become popular for various applications across the defense sector. Aerostat systems are tethered airborne platforms designed to delivered persistent services such as communication, surveillance, electronic intelligence gathering and others.
The market for dashcams is growing rapidly with increasing awareness about the benefits of dashcams particularly among the private vehicle owners. In addition, dashcams are widely used by taxi and bus drivers, driving instructors, police officers and many others to capture real time driving incidences. Dashcams provides straight to point and efficient evidence in case of accidents to easily identify the fault of driver.
With increasing need for persistent surveillance across various conflict zones, the governments of numerous nations worldwide are shifting towards high altitude platforms that offer wider coverage area with minimal costs. High altitude platforms (HAPs) are airborne systems operating in the high altitude category of more than 50,000 feet above the Earth’s surface.
The recruitment process outsourcing market worldwide is projected to expand with a CAGR of 13.9% during the forecast period from 2024 to 2032. The market for recruitment process outsourcing (RPO) is majorly governed by the increasing adoption of outsourcing services worldwide.
Due to expanding globalization among the business organizations worldwide and the resulting lockdown restrictions and work from the home model due to the ongoing COVID-19 pandemic, the need for effective collaboration techniques for real-time video communication has spurred substantially. In addition to this, organizations look for cost-effective solutions that can fulfill their need seamlessly.
The mobile point of sales (mPOS) terminal market is expected to grow at a CAGR of 18.5 during the forecast period of 2024 to 2032. The term "mobile point of sale" (mPOS) refers to a portable system that can be loaded on mobile devices like smartphones and tablets to make the payment process easier. Because businesses just need to install mobile POS software on their portable devices like tablets or smartphones, mobile point-of-sale systems enable merchants to service their clients regardless of where they happen to be located. mPOS has swiftly emerged as a critical tool that enables shops of all sizes to accept card payments.
Favorable government regulations promoting tightened web security has been one of the major factors driving the adoption of web content filtering solutions among end-users. In addition, growing desire to better manage the network bandwidth consumption and defy cyber threats have further fueled market momentum. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 13.9% during the forecast period 2023 – 2032.
The point of Sale (POS) terminal market is expected to grow at a CAGR of 11.5% during the forecast period of 2024 to 2032. Nearly 40% of the worldwide payments industry's revenue comes from POS terminal systems. The market for point-of-sale terminals is expanding at a rapid rate due to a number of factors, one of which is an increase in the adoption of wireless payment systems by retailers. Another factor is the surge in access to various kinds of payment modes, such as Visa (EMV) cards, EuroPay, and MasterCards.
The market for intelligent transportation systems and services is growing steadily with rising need to reduce traffic congestions particularly in metropolitan cities across the world. In addition, intelligent transportation systems offer benefits such reduced fuel consumption, travelling delays and environment protection. Rising awareness about the benefits of this technology is expected to spur the demand for ITSS particularly in emerging markets.
