Information Technology Industry Overview

The biosimulation market consists of sales of biosimulation software and services by entities (organizations, sole traders, and partnerships) that are engaged in garnering a better understanding of biological processes using computer simulations. Biosimulation is a mathematical simulation process that uses computers to replicate biological processes and systems. The aim of biosimulation is a model-based prediction of the dynamics and behavior of biological systems. The main types of products in the biosimulation market are software and services. The biosimulation software provides software for molecular modeling and simulation, pharmacokinetic/pharmacodynamic (PK/PD) modeling and simulation, toxicity prediction software, physiologically based pharmacokinetic modeling, and simulation (PBPK) modeling and simulation, trial design software, and others. It is used in drug development, drug discovery, and others and implemented in various verticals such as pharmaceutical and biotechnology companies, contract research organizations (CROs), regulatory authorities, academic research institutions, others. The global biosimulation market is expected to grow from $2.71 billion in 2020 to $3.17 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. The change in growth trend of the biosimulation market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The biosimulation market is expected to reach $5.29 billion in 2025 at a CAGR of 13.7%. The surge in healthcare expenditure worldwide is expected to support the biosimulation market over the forecast period. Increasing healthcare spending is likely to provide more expenditure on the development of drugs, which in turn will drive the revenues generated from the biosimulation solutions. Biosimulation software is currently being used in the development of drugs to mimic diseases. With the help of the biosimulation software, virtual clinical trials can be conducted for new developing pharmaceutical drugs using computers running disease simulations. According to the U.S. Centers for Medicare & Medicaid Services, US healthcare spending increased 4.6% in 2019, reaching $3.8 trillion or $11,582 per person, contributing a share of 17.7% of the nation’s GDP. Therefore, the surge in healthcare expenditure drives the growth of the biosimulation market. Product innovation is an emerging trend in the biosimulation market. Several companies operating in the biosimulation sector are focused on developing new and advanced solutions for biosimulation. For instance, in January 2021, Insilico Biotechnology AG, a Germany-based company providing predictive solutions for the Bioeconomy launched new software called the Insilico Selector. With the help of the Insilico Selector, it is possible to use micro-scale data for the creation of an accurate selection of high-performing cell clones. In April 2020, Simulations Plus Inc., a US-based company engaged in providing simulation and modeling software for pharmaceutical development and discovery acquired Lixoft for $16.5 million. With the acquisition of Lixoft, Simulations Plus expands modeling software offerings and plans to broaden the company’s presence in Europe. Lixoft is a France-based company engaged in providing modeling and simulation software for advanced model-based drug development. Major players in the biosimulation market are Certara, Dassault Systèmes, Schrödinger Inc., Simulations Plus Inc., Rhenovia Pharma, Insilico Biotechnology AG, Genedata AG, Entelos Inc., Physiomics plc, Rosa & Co. LLC., In silico biosciences Inc., INOSIM Software, LeadInvent Technologies, Nuventra Pharma, and Archimedes. North America was the largest region in the biosimulation market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biosimulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. The countries covered in the biosimulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global biosimulation market is segmented - 1) By Product: Software, Services 2) By Application: Drug Development, Drug Discovery, Others 3) By End User: Pharmaceutical And Biotechnology Companies, Contract Research Organizations (CROs), Regulatory Authorities, Academic Research Institutions, Others

The augmented reality in health care market consists of sales of augmented reality hardware and software in healthcare by entities (organizations, sole traders, and partnerships) which allows physicians to integrate data visualization into treatment and diagnostic procedures. The use of AR in healthcare allows the generation of interactive and rich experiences that show how clinical instruments and new drugs interact with the patient’s body. AR devices in health care make use of augmented technology to better perform surgeries and diagnosis with the help of visualization and real time data. The main types of products in augmented reality in healthcare are hardware and software. Hardware helps to perform medical tasks such as surgeries and diagnoses more efficiently and accurately using AR technology such as smart glasses. The different types of devices include head-mounted displays, handheld devices, others, and use different technologies such as wearables, vision-based, spatial, mobile-device based. These are implemented in various verticals such as hospitals and clinics, research laboratories and others. The global augmented reality in health care market is expected to grow from $1,065.14 million in 2020 to $1,415.23 million in 2021 at a compound annual growth rate (CAGR) of 32.9%. The change in growth trend of the AR in healthcare market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The augmented reality in healthcare market is expected to reach $4,145.48 million in 2025 at a CAGR of 30.8%. The increasing geriatric population is expected to propel the growth of the AR in healthcare market over coming years. The elderly population is increasing rapidly across the world and it is expected to continue over the forecast period. The older population is prone to a number of diseases and ailments that require surgeries. The use of AR in surgeries allows surgeons to visualize a patient’s anatomy side by side with their MRI and CT scan data. For instance, according to the Physical Review B (PRB) Journal, by 2060, the number of Americans aged 65 and above is expected to nearly quadruple to 95 million, accounting for 23% of the total population. Therefore, the rising geriatric population drives the growth of the AR in healthcare market. New product launches are shaping the AR in healthcare market. Major companies operating in the AR in healthcare sector are focused on product innovations for AR in healthcare to improve the accuracy in treatment. For instance, in December 2019, Augmedics, a US-based company that provides augmented reality in healthcare launched the Xvision Spine augmented reality surgical guidance device. The device is intended to allow doctors to see a patient's 3D spinal anatomy during surgery as if they were using X-ray vision. The vision enables the doctor to move instruments and implants precisely while looking directly at the patient rather than at a remote screen. In February 2020, Medtronic plc, a US-based medical technology company acquired Digital Surgery for $300 million. The acquisition of Digital Surgery will boost Medtronic's robotic guided surgery platform and will be helpful throughout the company's entire portfolio. Digital Surgery is a UK-based digital health company that develops virtual reality and artificial intelligence technology for doctors. Major players in the augmented reality in health care market are Microsoft Corporation, Sony Corporation, Siemens Healthineers, Koninklijke Philips N.V., CAE Healthcare, 3D Systems, Augmedix, AccuVein Inc., Osterhout Design Group Inc., Magic Leap Inc., Atheer Inc, VirtaMed, and ARToolworks Inc. North America was the largest region in the augmented reality in health care market in 2020. The regions covered in the augmented reality in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the augmented reality in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global augmented reality in health care market is segmented - 1) By Product: Hardware, Software 2) By Technology: Wearable, Vision-Based, Spatial, Mobile Device-Based 3) By Device Type: Head-Mounted Displays, Handheld Devices, Others 4) By End-User: Hospitals And Clinics, Research Laboratories, Others

The carbon footprint management market consists of sales of carbon footprint management solutions and services by entities (organizations, sole traders, and partnerships) that use the software to track the carbon footprint of an organization. A carbon footprint management system is a technological solution for measuring the impact of human activity on the environment expressed as a carbon dioxide equivalent. This tool allows organizations to identify opportunities for reducing material, water, waste, and energy use, thus reducing the carbon footprint of the company. The main types of components in carbon footprint management are solutions and services. The services provided by carbon footprint management include consulting, integration and deployment, support and maintenance, and system integration. The different modes of deployment include on-premise, cloud and are implemented in various verticals such as manufacturing, IT and telecom, residential and commercial buildings, transportation and logistics, energy and utilities, others. The global carbon footprint management market is expected to grow from $7.76 billion in 2020 to $8.63 billion in 2021 at a compound annual growth rate (CAGR) of 11.3%. The growth in the carbon footprint management market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The carbon footprint management market is expected to reach $11.50 billion in 2025 at a CAGR of 7.4%. The introduction of various carbon emission policies by governments in carbon footprint management is expected to propel the growth of the carbon footprint management market. Governments across the world have taken various initiatives to reduce their carbon footprint and pollution. For instance, in May 2021, the German government set new targets to reduce its carbon footprint. Under the new targets, Germany will aim for a 65%, 88%, and nearly 0% net carbon emission by 2030, 2040, and 2045 respectively. As a result, organizations have been instructed by governments to follow the norms and regulations. The adherence requirements for reducing carbon footprint would result in a growth in the demand for carbon footprint management systems as it assists organizations in identifying avenues for reducing their carbon footprint. The rising focus on enterprise sustainability among organizations is a key trend gaining popularity in the carbon emission management market. Major companies operating in the carbon emission management sector are focused on launching new products to meet the rising market demand for regulating their carbon emission. For instance, in June 2021, a France-based information technology services and consulting company, Capgemini launched “Sustainable IT”, an offering designed to assist IT companies in reducing their carbon footprint. The new offering is meant to support clients on their sustainability journey through its technical expertise, customized approach, and strong partner ecosystem using Capgemini’s global sustainability offering framework. In October 2020, Radicle Group Inc., a carbon reduction solutions company based in Canada acquired Climate Smart Businesses Inc. for an undisclosed amount. Through this acquisition, Radicle Group aims to better address the needs of clients seeking to calculate emissions and then manage a carbon strategy to strengthen their business. Climate Smart Businesses is a Canada-based company that provides carbon footprint management services. Major players in the carbon footprint management market are Accuvio, Carbon EMS, Enviance, EnergyCAP LLC, ENGIE Impact, Envirosoft Corporation, Intelex Technologies Inc., IsoMetrix Software, Locus Technologies, NativeEnergy Inc., SAP SE, Johnson Controls, Accenture PLC, IBM Corporation, Schneider Electric S.E., Natural Capital Partners, VelocityEHS, and Carbon Trust. North America was the largest region in the carbon footprint management market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon foorprint management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the carbon footprint management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global carbon footprint management market is segmented - 1) By Component: Solution, Services 2) By Deployment: On-Premises, Cloud 3) By Vertical: Manufacturing, IT And Telecom, Residential And Commercial Buildings, Transportation And Logistics, Energy And Utilities, Others

The product lifecycle management (PLM) market consists of sales of product lifecycle management software and services by entities (organizations, sole traders, and partnerships) that are engaged in providing a better strategic process for managing the complete journey of a product from initial ideation, development, service, and disposal. PLM refers to managing every step of the process involved with a product from raw material to finished product. The PLM process is inclusive of the manufacturing and marketing of the goods. From pricing and advertising to expansion or cost-cutting, the concept of product life cycle assists organizations in making smart business decisions.

The main components of the product lifecycle management market include software and services. PLM software enables businesses to strategically collaborate with partners and customers using trusted, up-to-date product information. PLM can be deployed either on-premise or on-cloud. The end-users of PLM include the automotive and transportation industry, industrial machinery, electronics and semiconductors, retail, energy and utilities, aerospace and defense, pharmaceuticals, IT and telecom, and others.

The global product lifecycle management market is expected to grow from $44.38 billion in 2020 to $49.52 billion in 2021 at a compound annual growth rate (CAGR) of 11.6%. The growth in the product lifecycle management (PLM) market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The PLM market is expected to reach $70.37 billion in 2025 at a CAGR of 9.2%.

The growing adoption of product lifecycle management (PLM) from end-use industries is expected to propel market growth in the coming years. PLM has the potential to offer improved supply chain accuracy, enhanced regulatory compliance, lower lead times, and an increase in sales growth. Product lifecycle management software is being used by end-use sectors to increase transparency in supply chains & manufacturing processes and speed the development of innovative goods. For instance, in June 2021, Accenture, an Ireland-based company that provided professional services agreed with DI Square, a Japan-based IT company specialized in data analytics software acquired the firm's consulting capabilities for product lifecycle management and application lifecycle management (ALM) systems integration. The acquisition of DI Square will increase Accenture’s engineering expertise for the automotive and other manufacturing clients in Japan and other markets.

Augmented Reality (AR) and Virtual Reality (VR) are increasing the demand for the product lifecycle management (PLM) market. Major companies operating in the PLM sector are focused on integrating new technology such as augmented reality and virtual reality to strengthen their position. For instance, in February 2021, Siemens had launched AssistAR 3.0, AssistAR supports assembly, inspection, and maintenance procedures with a new generation of accurate and robust AR technologies. AssistAR connects to the company's product lifecycle management system and uses regular PCs and displays to guide company operators through complex operations without the use of glasses or a headset.

In May 2020, Accenture, an Ireland-based company that specializes in providing consulting and professional services acquired PLM systems for an undisclosed amount. The acquisition of PLM Systems would enable Accenture to advance in the digitization of engineering services; Accenture intends to combine their capabilities, methodology, technology, and solutions for PLM Systems. This acquisition is in line with Accenture’s expansion plans towards improving their industrial product development process and providing more efficient and sustainable solutions to their clients. PLM systems is an Italian company that specializes in the design and development of information systems for product lifecycle management.

Major players in the product lifecycle management market are ANSYS Inc., Accenture, Oracle Corporation, SAP SE, Autodesk Inc., Siemens AG, PTC Inc., Dassault Systèmes SE, Aras Corporation, IBM, and Atos.

North America was the largest region in the product lifecycle management market in 2020. The regions covered in the product lifecycle management (PLM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the product lifecycle management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global product lifecycle management market is segmented -

1) By Component: Software, Services

2) By Deployment: On-Premise, On-Cloud

3) By End-User: Automotive And Transportation, Industrial Machinery, Electronics And Semiconductors, Retail, Energy And Utilities, Aerospace And Defense, Pharmaceuticals, IT And Telecomm, Others

The radio-frequency identification (RFID) tags market consists of sales of RFID tags by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to receive, store, and transmit data through radio frequency waves. RFID tags are small devices with a chip and an antenna that may be used to wirelessly identify the objects they are attached to by using an RFID reader. RFID tags transmit their identification, track, and communicate information to adjacent readers through radio waves, and can store a variety of data ranging from a single serial number to multiple pages of information.

The main types of radio-frequency identification (RFID) tags are active RFID and passive RFID. The active RFID tags are battery-powered sensor tags that connect to various access points throughout an area (such as a building) and transfer data to the cloud. Active RFID is frequently used in real-time location tracking. The different materials include plastic, paper, glass, others and operate in various frequencies such as low frequency, high frequency, ultra-high frequency. It is used in several applications including agriculture, retail and wholesale, healthcare, BFSI, transpiration and logistics, education, and others.

The global radio-frequency identification (RFID) tags market is expected to grow from $10.53 billion in 2020 to $12.21 billion in 2021 at a compound annual growth rate (CAGR) of 16%. The change in growth trend in the RFID tags market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The RFID tags market is expected to reach $18.94 billion in 2025 at a CAGR of 11.6%.

The rising e-commerce and online retail sales are expected to propel the growth of the RFID tags market in the forecast period. E-commerce (electronic commerce) is the buying and marketing of goods and services over a computer network, most often the internet, as well as the exchange of payments and information. RFID technology gives e-commerce organizations a better picture of the supply chain, allowing them to find what they need to fulfill a customer's request. For instance, according to the United Nations Conference on Trade and Development (UNCTAD) report, in 2019 worldwide e-commerce sales increased to $26.7 trillion. In the USA, online retail sales increased from 11% in 2019 to 14% in 2020. Therefore, the rising e-commerce and online retail sales drive the growth of the RFID tags market.

RFID companies are increasingly implementing advanced technologies such as IoT and Big Data, which is a growing trend in the market. With the help of IoT, RFID tags can connect objects into a network and make them create and send data. It assists in the real-time monitoring of tagged objects and the creation of a system of connected devices that broadcast information about their position, conditions, and quantities in real-time. For instance, according to Digiteum LLC, a Poland-based software development company report in 2019, the number of connected devices is expected to grow to 200 billion by 2020. Many of these devices will be RFID-enabled and will be found in hospitals, emergency departments, nursing homes, and other healthcare facilities.

In December 2019, Avery Dennison, a US-based company involved in manufacturing and distribution of apparel branding labels and tags, RFID inlays acquired Smartrac’s RFID Transponder (RFID Inlay) business for €225 million (~ $248 million). Avery Dennison intends to grow their Intelligent Labels platform across a range of end markets as a result of this purchase, which will assist Avery Dennison in continuing to drive innovation that benefits customers and the industry as a whole. Smartrac N.V. is a Netherlands-based company that manufactures high-security RFID inlays.

Major players in the radiofrequency identification (RFID) tags market are Avery Dennison, Zebra Technologies, Honeywell, NXP Semiconductors, Impinj Inc., Invengo Technology Pte. Ltd., ams AG, Atmel Corp, Alien Technology, Smartrac N.V., GAO RFID Inc., The Tag Factory, and MOJIX.

North America was the largest region in the radio-frequency identification (RFID) tags market in 2020. The regions covered in the RFID tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the radiofrequency identification (RFID) tags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global radiofrequency identification (RFID) tags market is segmented -

1) By Tag Type: Active RFID, Passive RFID

2) By Material: Plastic, Paper, Glass, Others

3) By Frequency: Low Frequency, High Frequency, Ultra High Frequency

4) By Application: Agriculture, Retail And Wholesale, Healthcare, BFSI, Transpiration And Logistics, Education, Others

Database Software Market Definition

The database software market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that are engaged in computer software publishing, or publishing and reproduction. Establishments that are engaged in writing, modifying, designing, testing, assisting in installation, providing documentation and supporting software are also included in this market.

Big Data And Analytics Market Definition

The big data and analytics market consists of sales of big data and analytics software by entities (organizations, sole traders and partnerships) that develop such software used for applications such as data mining and predictive modeling. The sales consist of revenues generated by establishments that are primarily engaged in the development of software for big data and analytics, key brands include Hadoop, Tableau, and Qubole. Only goods and services traded between entities or sold to end consumers are included. Big data is defined as large data sets whose size or type is beyond the ability of traditional relational databases to capture, manage and process. The data is of high volume, high velocity and high variety which is generated by various mediums including artificial intelligence (AI), mobile devices, social media, and the Internet of Things (IoT). There is a large amount of real time data that is generated from sensors, devices, video/audio, networks, log files, transactional applications, web, and social media, which is too large or complex to be dealt with by traditional data-processing application software.

AI In Pharma Market Definition

The artificial intelligence (AI) in pharma market consists of sales of AI software products in the pharma and related services that use an automated algorithm to perform tasks that traditionally rely on human intelligence. It can be useful in handling data and presenting results that encourage better decision-making and save human efforts, cost, and time. Artificial intelligence (AI) is concerned with the simulation of human intelligence in machines which are programmed to think like humans and mimic their actions. Artificial Intelligence in pharma refers to the system of interconnected and automated technologies in the pharmaceuticals and biotechnology industry that can function autonomously, with little or no human intervention. It is helping pharmaceutical companies to improve clinical trials, enable predictive power in the R&D process and has the ability to elevate pharma manufacturing.