Professional Services Industry Overview

The product engineering services market consists of sales of product engineering services by entities (organizations, sole traders, and partnerships) that are used to create commercial digital products with a revenue model. Not all enterprise software is focused on boosting employee efficiency, streamlining operations, and cutting costs. Product engineering service refers to the process of designing, innovating, developing, testing, and deploying a product. The main types of product engineering services are product and component design; process engineering, maintenance, repair, operations, and other service types (customer support and technical publications). Product and component design are used to create a new product to be sold by a business to its customers. The different organizations utilizing product engineering services include SMEs and large enterprises, and they are widely used in industries ranging from automotive and transportation, aerospace and defense, healthcare, IT and telecom, industrial manufacturing, energy and utilities, media and entertainment, BFSI, and other verticals. The product engineering services market research report is one of a series of new reports from The Business Research Company that provides product engineering services market statistics, including product engineering services industry global market size, regional shares, competitors with a product engineering services market share, detailed product engineering services market segments, market trends and opportunities, and any further data you may need to thrive in the product engineering services industry. This product engineering services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global product engineering services market size is expected to grow from $837.59 billion in 2021 to $910.82 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The global product engineering services market size is expected to reach $1,277.15 billion in 2026 at a CAGR of 8.8%. Increasing use of internet penetration is expected to propel the growth of the product engineering services market going forward. Internet penetration refers to the number of people using internet services worldwide. Product engineering services such as software engineering services utilize internet computing for the development, management, deployment, and quality assurance of software supporting internet-based systems. As a result, increasing internet penetration increases the demand for product engineering services, as companies are developing new products to meet fast-growing consumer demands. For instance, in June 2021, according to The Economic Times, an India-based newspaper, the number of internet users in India is expected to reach 900 million by 2025, with an increase of 45% in the next five years. Therefore, increasing use of internet penetration is predicted to boost demand for product engineering services during the forecast period. Technological advancements are a key trend gaining popularity in the product engineering services market. Major companies operating in product engineering services are developing innovative solutions to strengthen their position in the market. For instance, AKKA Technologies, a Belgium-based company operating in product engineering services, expands its presence in Leipzig with the establishment of a new ‘Digital Center of Excellence’ (DCE). This accelerates the digital innovation projects by offering highly innovative solutions in the areas of software development and testing, cloud architecture, embedded software development, machine learning, AI, and data analytics and also drives the digital transformation of its customers. In October 2021, Accenture, an Ireland-based information technology company, acquired Umlaut for an undisclosed amount. Through this acquisition, Umlaut became a part of Accenture and scales Accenture’s deep engineering capabilities to help companies use digital technologies such as cloud, artificial intelligence, and 5G to transform how they engineer, design, and manufacture their products as well as embed sustainability. Umlaut is a Germany-based advisory and engineering service provider operating in the product engineering services market. Major players in the product engineering services market are ALTEN Group, AVL, HCL Technologies, AKKA Technologies, IBM Corporation, Capgemini Engineering, Wipro Limited, Harman International, Tata Consultancy Services (TCS) Limited, Accenture plc, Pactera EDGE, Tech Mahindra Limited, Genpact, Infosys Limited, Cognizant, Bitcomm Technologies Pvt. Ltd., Nous Infosystems, and ITC InfoTech. North America was the largest region in the product engineering services market in 2021. Asia-Pacific is expected to be the fastest-growing region in the product engineering services market in the forecast period. The regions covered in the global product engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the product engineering services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global product engineering services market is segmented - 1) By Service Type: Product and Component Design, Process Engineering, Maintenance, Repair and Operations, Others 2) By Organization Size: SMEs, Large Enterprises 3) By Verticals: Automotive and Transportation, Aerospace and Defense, Healthcare, IT and Telecom, Industrial Manufacturing, Energy and utilities,Media and entertainment,BFSI, Others

The product information management market consists of sales of product information management software solutions by entities (organizations, sole traders, and partnerships) that refer to the process of managing and improving product information and relevant digital content across many teams to provide an engaging consumer experience and sell products successfully across numerous sales and marketing channels. Product information management ensures that the entire business ecosystem has consistent and up-to-date information. The main types of product information management are software and services. Software refers to the programs and other operating information used by a computer. Product information management can be deployed on-premises, cloud by organizations of all sizes, such as large enterprises and small and medium-sized enterprises used by consumer goods and retail, banking, financial services and insurance (BFSI), telecom & IT, manufacturing, transportation & logistics, media & entertainment, and other end users. The product information management market research report is one of a series of new reports from The Business Research Company that provides product information management market statistics, including product information management industry global market size, regional shares, competitors with a product information management market share, detailed product information management market segments, market trends and opportunities, and any further data you may need to thrive in the product information management industry. This product information management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global product information management market size is expected to grow from $10.33 billion in 2021 to $12.21 billion in 2022 at a compound annual growth rate (CAGR) of 18.1%. The global product information management market size is expected to grow to $24.82 billion in 2026 at a CAGR of 19.4%. Demand for product information management software from the thriving eCommerce industry across the globe is contributing to the growth of the market. Product information management systems enable businesses to properly evaluate, structure, and validate their brand and product data before sharing it with all supply chain partners in the relevant formats and at the appropriate time. E-commerce enterprises regularly experiment with new digital technologies and integrate them into their business processes to meet 100% of their customers' demands along with the e-commerce development pace. For instance, the e-commerce business has experienced rapid expansion as a result of rapid digitalization and an ever-increasing number of online buyers fueled the growth of global e-commerce as sales jumped to $26.7 trillion in 2019, up 4% from 2018. Thus, the rising demand for product information management software from the thriving eCommerce industry is anticipated to propel market growth shortly. Integration of artificial intelligence and machine learning capabilities to enhance information management and customer experience is propelling the product information management market forward. Artificial intelligence (AI) and machine learning have rapidly become one of the most popular trends in the industry, and many businesses are eager to use these technologies to improve their digital experiences. Businesses can provide more effective, intuitive, and meaningful consumer purchase experiences with updated product data on their commerce websites by incorporating AI into PIM systems. For instance, in 2019, Akeneo, a France-based technology company, released Akeneo PIM 3.0 to link with their AI-powered Franklin library of 50 million products, which uses AI to automatically update product descriptions and information. Hence, the integration of artificial intelligence and machine learning capabilities to enhance information management and customer experience is helping the market grow more efficiently. In January 2021, inRiver, a Sweden-based product information management company, acquired Detail online for an undisclosed amount. The acquisition contributes to the only digital-first PIMTM solution that accelerates time-to-market and improves purchase experiences by harnessing the data needed to enhance content performance and remediate failing channels or products in real-time. Detail online is a Swedish AI-powered analytics solution to help brands monitor product information across multiple online channels. Major players in the product information management market are IBM Corporation, SAP SE, Informatica LLC., Magnitude Software, Contentserv, Plytix Limited, Salsify Inc., Riversand Technologies Inc., Pimcore USA, Akeneo SAS, Stibo System, EnterWorks Acquisition Inc., Agility Multichannel Limited, Mobius, Profisee, Censhare, Vinculum, Truecommerce, and Vimedici. North America was the largest region in the product information management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global product information management market during the forecast period. The regions covered in the global product information management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the product information management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global product information management market is segmented - 1) By Component: Software, Services 2) By Deployment Type: On-premises, Cloud 3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises 4) By End-User: Consumer Goods and Retail, Banking, Financial Services and Insurance (BFSI), Telecom and IT, Manufacturing, Transportation and Logistics, Media and Entertainment, Others

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The cannabis testing market consists of sales of cannabis testing materials and technology by entities (organizations, sole traders, and partnerships) that are used in relieving stress, muscle pains, nausea, and vomiting. Cannabis refers to the analysis of an individual sample of cannabis that is examined to determine tetrahydrocannabinol, cannabidiol, and terpene levels as well as impurities such as residual solvents, mold, pests, disease, or pesticide residue. The main test types for cannabis testing are potency testing, pesticide screening, residual solvent screening, heavy metal testing, terpene testing, mycotoxin testing, and others. Instruments refer to the instruments used to test cannabis products. The different technologies include chromatography, spectroscopy, and others and involve several portability types, such as stand-alone, handheld devices. These are employed in testing laboratories, drug manufacturers, research institutes, and other end-users. The cannabis testing market research report is one of a series of new reports from The Business Research Company that provides cannabis testing market statistics, including global market size, regional shares, competitors with a cannabis testing market share, detailed cannabis testing market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis testing industry. This cannabis testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global cannabis testing market size is expected to grow from $1.75 billion in 2021 to $2.09 billion in 2022 at a compound annual growth rate (CAGR) of 19.1%. The global cannabis testing market size is expected to grow to $3.88 billion in 2026 at a CAGR of 16.8%. The growing usage of cannabis as a medicinal product is expected to propel the growth of the cannabis testing market going forward. Cannabis is used to relieve tension and muscle problems, as well as to lessen nausea and vomiting following chemotherapy. As a result, the use of cannabis as a therapeutic substance is increasing. Cannabis also calms epileptic seizures in the brain and has the beneficial effect of damping down seizure intensity. For instance, in 2022, according to the World Health Organization, among the 147 million world population, 2.5% of people consumed cannabis. Therefore, the growing usage of cannabis as a medicinal product drives the cannabis testing market. Strategic partnerships have emerged as the key trend gaining popularity in the cannabis testing market. Major companies operating in the cannabis testing market are undergoing partnerships to strengthen their position. For instance, in November 2020, Shimadzu Scientific Instruments, a Japan-based manufacturer of cannabis testing instruments, partnered with McCann Testing, a US-based medical cannabis testing lab. Through this partnership, Shimadzu would supply MoCann with instruments and support MoCann testing efforts with training, method development, and maintenance. Moreover, in March 2022, Digipath Inc, a US-based cannabis testing laboratory, partnered with CASPR Technologies, a Nigeria-based provider of smart environmental indoor technology for healthcare. Through this partnership, Digipath will test and validate the efficacy of CASPR’s technology in botanical applications, specifically for cannabis and hemp. In December 2020, Kennebec Analytical Services, a US-based company that provides full-service analytical testing and consulting, acquired Cannabis Testing Laboratories (CTL) from Doane University for an undisclosed amount. Through this acquisition, the combined offerings of KAS and CTL are expected to expand full-service testing and consultation services in Nebraska. This would allow them to meet each client's business goals, from harvesting to processing, as this is essential to drive product development and marketing, as well as meet state and federal regulatory guidelines. Doane University Cannabis Testing Laboratories (CTL) is a US-based wholly-owned subsidiary of parent firm Doane University that has established itself as Nebraska's first cannabis testing lab which provides cannabis testing. Major players in the cannabis testing market are Agilent Technologies Inc, Shimadzu Corporation, DigiPath Inc, Steep Hill Inc, SC Laboratories, PharmLabs LLC, Waters Corporation, CW Analytical Laboratories Inc, PerkinElmer Inc, Restek Corporation, Ab Sciex LLC, Danaher Corporation, Praxis Labs, Phenomenex, and Anresco Labs. North America was the largest region in the cannabis testing market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global cannabis testing market during the forecast period. The regions covered in the global cannabis testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cannabis testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cannabis testing market is segmented - 1) By Test Type: Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing, Others 2) By Technology: Chromatography, Spectroscopy, Others 3) By Portability: Standalone, Hand Held Devices 4) By End-User: Testing Laboratories, Drug Manufacturers, Research Institutes, Others

The loyalty management market consists of sales of loyalty management services by entities (organizations, sole traders, partnerships) which refers to a set of operations aimed at providing superior customer service. The concept analyzes how businesses may attract, engage, and retain customers. Loyalty management provides benefits, experiences, and rewards that drive long-term engagement with customers. The main components of loyalty management are software and service. Loyalty management software connects businesses with customers across all touchpoints and tracks individual consumer purchasing patterns across online and offline channels. The various deployment types of loyalty management include cloud, and on-premises for organization types including small and medium-sized enterprises, and large enterprises. Loyalty management is used in various end-use industries including BFSI, IT, telecommunication, transportation, retail, hospitality, media and entertainment and other end-users. The loyalty management market research report is one of a series of new reports from The Business Research Company that provides loyalty management market statistics, including loyalty management industry global market size, regional shares, competitors with a loyalty management market share, detailed loyalty management market segments, market trends and opportunities, and any further data you may need to thrive in the loyalty management industry. This loyalty management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global loyalty management market size is expected to grow from $7.26 billion in 2021 to $8.44 billion in 2022 at a compound annual growth rate (CAGR) of 16.3%. The global loyalty management market size is expected to grow to $15.58 billion in 2026 at a CAGR of 16.5%. The rise in the number of cardholders and the use of reward points is driving the growth of the loyalty management market. Businesses utilize customer loyalty cards to encourage clients to return to their stores for repeat business. Customer loyalty cards also provide insight into customer purchasing habits, allowing businesses to evaluate customized incentives. For instance, according to a 2019 survey on Loyalty Programs & Brand Loyalty conducted on 1,049 respondents by Wirecard across the geographic area of the United States, 75% of customers reported that after obtaining any form of incentive, they were more inclined to make another transaction with a brand. Also, in India, the banking system reported nearly 1.1 million new credit card additions in September 2021, with a 57% increase in credit card spending over the previous year. Therefore, a rise in a number of cardholders and the use of reward points is driving the growth of the loyalty management market. Investing in analytics and business intelligence tools for relevant rewards and incentive schemes is gaining popularity in loyalty management programs. Companies in loyalty management are investing in analytics and business intelligence tool for a targeted customer approach. Collecting engagement data throughout a company’s clients' buying journeys can help the company gain a better understanding of how they behave and how to communicate with them most effectively. For instance, in May 2021, US-based software company, Salesforce introduced new CDP (Customer Data Platform) improvements to guarantee that customer data becomes smarter and more linked, making it simpler for businesses to act on it in a more trustworthy manner. CDPs guarantee that all addressable channels have access to a uniform profile, and that personalization and relevance are implemented. In January 2019, Air Canada, the largest airline in Canada by fleet size and passengers carried has acquired Aimia Canada Inc. from AIMIA Inc. for a deal amount of $450 million. With this acquisition, Air Canada would be focused on enhanced experience traveling with friends and family, with a new digital experience. Aimia Canada Inc. is US-based data-driven marketing and operator of an airplane loyalty business company. Major players in the loyalty management market are AIMIA Inc., Bond Brand Loyalty Inc., IBM Corporation, Oracle Corporation, Comarch SA, SAP SE, Epsilon Data Management LLC, ICF International Inc., Kobie Marketing Inc., TIBCO Software Inc., MicroStrategy Inc., The Lacek Group Inc., Capillary Technologies, Brierley Partners, Fidelity National Information Services Inc., Lumata Group, Fivestars, Maritz Holdings Inc, Antavo Limited, Apex Loyalty, Sailplay, Paystone Inc., Annex Cloud, Blue ocean and Salesforce Inc. North America was the largest region in the loyalty management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global loyalty management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the loyalty management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global loyalty management market is segmented - 1) By Component: Software, Services 2) By Deployment: Cloud, On-Premises 3) By Organization Type: Small and Medium-Sized Enterprises, Large Enterprises 4) By End-Use: BFSI, IT, Telecommunication, Transportation, Retail, Hospitality, Media and Entertainment, Others

The single-cell analysis market consists of sales of single-cell analysis products and services by entities (organizations, sole traders, and partnerships) that are engaged in conducting research and experimental development in single-cell analysis. Single-cell analysis is the study of transcriptomics, genomics, proteomics, cell interactions, and metabolomics at the level of a single cell. It helps in standardizing and automating the workflows with information useful in the treatment of various diseases such as cancer. The main types of single-cell analysis are consumables and instruments. Consumables are used in exosome analysis, research and genetic exploration, and isolation of RNA and DNA. The workflow of single-cell analysis is single-cell isolation & library preparation, downstream analysis, data analysis using techniques such as flow cytometry, next-generation sequencing, polymerase chain reaction (PCR), microscopy, mass spectrometry, other techniques. There are various applications of single-cell analysis such as cancer, immunology, neurology, stem cell, non-invasive prenatal diagnosis, in-vitro fertilization, and other applications. The end-users are academic and research laboratories, biotechnology and pharmaceutical companies, hospital and diagnostic laboratories. The single-cell analysis market research report is one of a series of new reports from The Business Research Company that provides single-cell analysis market statistics, including single-cell analysis industry global market size, regional shares, competitors with a single-cell analysis market share, detailed single-cell analysis market segments, market trends and opportunities, and any further data you may need to thrive in the single-cell analysis industry. This single-cell analysis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global single-cell analysis market size is expected to grow from $2.58 billion in 2021 to $2.9 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The single-cell analysis market is expected to grow to $4.9 billion in 2026 at a CAGR of 14.1%. The growing focus on personalized medicine across the globe is contributing to the growth of the single-cell analysis market. Personalized medicine is a medical practice that uses a genetic profile of a particular individual to make decisions for the treatment of a disease and also for the prevention and diagnosis of the disease for that specific individual. The single-cell analysis could help in the treatment of various diseases by giving deep insights into the needs of individual patients, the nature of the disease, and the personalized treatment for it. Thus, more patients are opting for personalized medicines for themselves. For example, according to the survey conducted in July 2021, by Dosis, a dosing platform provider, of 1,000 people, 85% of patients think that personalized medicine will improve care for them and 80% of patients think that personalized medicine should be available for all. Hence, the increasing focus on personalized medicine is supporting the growth of the market. Companies in the single-cell analysis market are focusing on technological advancements to deliver intact and viable single cells. With the help of technological advancements, companies in the market are maintaining sample integrity through shipping, storage, and processing, increasing the recovery rates of delicate cells, and also eliminating the need for specialized instruments. For example, in October 2021, PerkinElmer, a US-based company engaged in diagnostics, food, environmental and industrial testing, and, life science research, along with Honeycomb Biotechnologies, a US-based company involved in single-cell genomic analysis, launched HIVE™ scRNAseq solution which a portable, single-use and handheld device that allows gentle capture, robust storage, and ease in processing for the analysis of single-cell samples. It has RNA-Seq libraries from a variety of cell types, including fragile and labile cells such as granulocytes, nephrons, hepatocytes, and neurons. The HIVE system is simple to use and offers potential for laboratories conducting fundamental, translational, clinical, and preclinical research. In April 2020, Bio-Rad Laboratories, Inc., a US-based company engaged in life science research and clinical diagnostic products, acquired Celsee Inc. for an undisclosed amount. With this acquisition, Bio-Rad Laboratories has extended its presence in single-cell analysis, to offer valuable insights into the diagnosis and treatment of disease. Celsee, Inc., is a US-based provider of instruments and consumables for the detection, isolation, and analysis of single cells. Major players in the single-cell analysis market are Becton, Dickinson and Company, Merck KGAA, QIAGEN N.V., Thermo Fisher Scientific Inc., Illumina Inc., Fluidigm Corporation, 10X Genomics, Bio-Rad Laboratories, Novogene Corporation, Agilent Technologies Inc., Sartorius AG, Luminex Corporation, Fluxion Biosciences, and Oxford Nanopore Technologies. North America was the largest region in the single-cell analysis market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the single-cell analysis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the single-cell analysis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global single-cell analysis market is segmented - 1) By Product: Consumables, Instruments 2) By Workflow: Single-Cell Isolation and Library Preparation, Downstream Analysis, Data Analysis 3) By Technique: Flow Cytometry, Next Generation Sequencing, Polymerase Chain Reaction (PCR), Microscopy, Mass Spectrometry, Others 4) By Application: Cancer, Immunology, Neurology, Stem Cell, Non-Invasive Prenatal Diagnosis, In-Vitro Fertilization, Others 5) By End-User: Academic and Research Laboratories, Biotechnology and Pharmaceutical Companies, Hospital and Diagnostic Laboratories