In a recent published report, Kenneth Research has updated the market report for Intelligent Apps Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2024, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Intelligent Apps Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2024. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2024.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Overview:
Intelligent apps are mainly driven by artificial intelligence (AI) and machine learning and they are no longer a innovative technology, rather than, it has become a present-day necessity that every enterprise must get on board with sooner rather than later if they want to compete and attract and retain top talent. With benefits abundantly, ‘smart apps’ can accelerate business transformation and deliver new insights, while releasing next level productivity.
Intelligent Apps is primarily a process, which uses machine-learning technology for developing these apps using historical and real-time data for predictions and decisions to offer rich, interactive and personalized experience to the users. In addition, various search engines like Google and Bing, media service providers like Spotify and Netflix are some of the many intelligent apps users are interacting with. Machine learning technology empowering intelligent apps has become a mainstream stage for this ecosystem.
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Market Analysis:
the Global intelligent Apps Market is expected to reach $123.89 billion by 2024, growing at a CAGR of around 69.28% during the forecast period. The market is experiencing growth mainly due to the increase in the need for advanced analytical tools, advancement in technology with related to new product development, and increased market for big data & analytics drive the global intelligent apps market. Though, with the of low awareness level among the consumers about products and services, and is expected to hamper the market growth. In addition, with the increase in the adoption of intelligent apps among developing economies offers a major opportunity for market expansion.
Market Segmentation Analysis:
The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections and assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendors presentations. Thus, the research report serves every side of the market and is segmented based on regional markets, type, applications, and end-users.
Countries and Vertical Analysis:
The report contains an in-depth analysis of the vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape. The key and the prominent vendors covered in the report include Google Inc., Microsoft Corporation, Opera Software, Cognizant, Hewlett Packard Enterprise, Development LP, SAP SE, China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., and others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
The counties covered in report are the US, Canada, Mexico, the UK, France, Germany, India, China, and, Japan. Among these, Japan, the US, and China are expected to grow at a high rate during the forecast period (2017-2023) owing to an increase in the penetration rate of connected devices and growing adoption of cloud computing.
Competitive Analysis
The report covers and analyses the Global intelligent apps market Market. Various strategies, such as joint ventures, partnerships, collaborations, and contracts, have been considered. In addition, as customers are in search for better solutions, there is expected to be a rising number of partnerships. There is likely to be an increase in the number of mergers, acquisitions, and strategic partnership during the forecast period.
The report includes the complete insight of the industry, and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.
Regional Analysis
The Americas market is leading in the global intelligent market as most of the large organizations have their headquarters located here. The region is the largest base for the technological innovations and adoption. Many of these pure-play providers are family owned and focus on particular products for specific industries or applications, which makes up the majority of the automation companies.
EMEA is one the major investor for the technological innovations among all other regions and stands next to the Americas and APAC. The region is one of the most digital and interconnected societies in the world; this is leading to increased demand for intelligent apps. In addition, Asia Pacific is a developing region with a lot of opportunities for the growing consumer electronics market.
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Benefits
The report provides an in-depth analysis of the Global intelligent apps Market aiming to reduce time to market for products and services, reduce operational cost, improve accuracy, and operational performance. With the help of mobile apps, and intelligent apps, various organizations can load their crucial information, and increase productivity and efficiency. In addition, the solutions are proven to be reliable and improve scalability. The report discusses about types, applications, and regions. Further, the report provides details about the major challenges impacting the market growth.
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