In 2023, the leading market research company in terms of global research revenue was Gartner, generating approximately *** billion U.S. dollars. In the same year, American company IQVIA accrued roughly *** billion U.S. dollars. Market research companies - global players Market research is an important business strategy involving the gathering of information about an organization’s target market. In terms of global research revenue, American company Gartner was the leading market research company worldwide. Headquartered in the United States, the number of employees working for the company totaled ****** people in 2023. The sixth largest market research company in terms of global research revenue was Kantar. Kantar Group is a UK-based international network of ** companies, including Millward Brown and IMRB International. In 2022, the research revenue of Kantar amounted to approximately ***** billion U.S. dollars. Another European leader, and ranked seventh in the global ranking, was Ipsos. The company had a research revenue of over *** billion U.S. dollars. The largest share of market research revenue made by Ipsos was generated in Europe, the Middle East and Africa in 2023. United States dominant in a global market The global revenue of the market research industry reached over ** billion U.S. dollars in 2023, over half of which came from the United States. The number of full-time employees working for the top ten market research companies in the United States totaled almost ****** in 2020.
This statistic illustrates the leading individual market research agencies in the United Kingdom (UK) in 2017, by turnover. The ranking was led by London based Dunnhumby, which had made 253.3 million British pounds in turnover that year.
The global market research industry reached a record high market size of approximately ** billion U.S. dollars in 2023. Over the last decade, the global market research industry has performed contrary to broader economic trends as the industry has continued to grow. Figures for 2023 signaled an increase of about *** billion U.S. dollars compared to the previous year. Market research industryMarket research is the activity of gathering information about markets in which an organization sells their produces and/or services. This often includes detailed qualitative understandings of consumer attitudes and preferences through tools such interviews, surveys, and increasingly, big-data analytics. The leading market research company worldwide was U.S.-based Gartner in 2022. Slow growth in EuropeWhile growth in the United States has been significant, the revenue of the market research industry in Europe grew just slightly since 2014. Some analysts expect this poor performance to continue into the near future for *** reasons. First is the short- and mid-term uncertainty created by Brexit, impacting the reliability of any market research conducted prior to the issue being resolved. Second is the implementation of the EU General Data Protection Regulation (GDPR) laws in May 2018, which limit what companies are able to do with personal data. A majority of IT professionals in France, Germany and the UK agree the GDPR laws will prevent personal data being passed on to third parties, reducing the amount of data available to researchers in Europe compared to other regions.
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The Search Engine industry is highly concentrated, with three companies controlling almost the entire industry; the largest company, Alphabet Inc., has a market share greater than 96%. Search engines provide web portals that generate and maintain extensive databases of internet addresses. Industry companies generate most, if not all, of their revenue from advertising. Technological growth has resulted in more households being connected to the Internet, and a boom in e-commerce has made the industry increasingly innovative. Over the past decade, a climb in the percentage of households with internet access has supported revenue growth, while increasing technological integration with daily life has increased demand for industry services. A greater proportion of transactions being carried out online has driven innovation in targeted digital advertising, with declines in rival advertising formats like print media and television increasing the focus on digital marketing as a core strategy. Industry revenue is expected to increase at a compound annual rate of 4.7%, to reach £5.1 billion over the five years through 2024-25. Revenue is forecast to climb by 4.7% in 2024-25. Industry profit has remained high, expanding to 34.2% in 2024-25. The rise of the mobile advertising market and the proliferation of mobile devices mean there are plenty of opportunities for search engines, which are expected to capitalise on these trends further moving forward. Smartphones could disrupt the industry's status quo, as the rising popularity of devices that do not use Google as the default engine benefits other search providers. Technological advancements that incorporate user data are anticipated to make it easier to tailor advertisements and develop new ways of using consumer data. Industry revenue is forecast to jump at a compound annual rate of 6% over the five years through 2029-30, to reach £6.8 billion.
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In Europe, funding for research and innovation largely comes from the business enterprise, government, higher education, and non-profit sectors. Private companies that outsource their research needs – spending on research facilities by the business enterprise sector – are the largest backers. Belgium, Sweden, Austria, Germany and Finland are all home to lots of companies in the biotechnology, pharmaceutical and healthcare sectors that spend on R&D. Government spending on R&D in 2021 was largest in Germany, Czechia, Greece and Belgium. Revenue in Europe's Natural Science and Engineering Research and Development Activities industry is expected to grow at a compound annual rate of 2.1% to €154.7 billion over the five years through 2024. Research activity dropped further in the two years through 2021 because the COVID-19 outbreak caused capital expenditure by the private sector to plummet in 2020, leading to lower private research expenditure and weakening demand for research activities. The need for a speedy vaccine rollout in response to the COVID-19 outbreak boosted R&D activity in medical and health-related sciences, but revenue is anticipated to fall by 2.9% in 2024. Profit tends to be low since it largely depends on the level and reliability of funding from governments and institutions. The average profit margin is set to be 7.0% in 2024. Revenue is projected to swell at a compound annual rate of 4.1% to €189.2 billion over the five years through 2029. The EU has plans to encourage more R&D activity through Horizon Europe and Next Generation EU, which aims to digitalise European economies, supporting demand for natural science and engineering research services.
Based on employment data collected in the United Kingdom (UK), in the fourth quarter of 2022, there were a total of 192 thousand individuals working in advertising and market research. In general, the number of women working in this industry was higher than the number of men. However, the number of men was higher for self-employed advertising and market researcher specialists.
Revenue: market research vs. advertising
Despite its significance, market research still makes up a small share of the overall industry revenue in the United Kingdom, attesting to the immense profitability of the advertising segment. By 2022, it accounted for 11 percent of the entire segment’s revenue, and this is expected to continue to 2024 even as overall earnings rise.
Internet advertising on the rise
On the other hand, advertising has always brought in the largest revenue and its growth is by and large due to online marketing. In fact, while advertising spend for a majority of channels in the UK has either entered a slow decline or remained the same, spending on internet advertising surpasses 10 billion British pounds. This is largely in line with the rise of device and smartphone ownership, as well as the growing popularity of online video-on-demand services.
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Business intelligence and analytics software publishers' revenue is expected to swell at a compound annual rate of 1.9% over the five years through 2024-25 to reach £884.9 million. Strong growth has been fuelled by rising business software investment, IT and telecommunications adoption, advances in computing technology and the digitalisation of business processes. This has driven the advent of big data, providing new data sets which can interface with business analytics software. Many software products, including customer relationship management and enterprise resource planning systems, have become basic tools for managing large companies. The largest publishers have pursued acquisition activity to take control of cloud companies and data analytics businesses. These industry giants are generally selective with acquisitions, embracing the switch to software as a service and adopting the low-cost cloud model. The industry has demonstrated resilience amid turbulent times, continuing on a growth path in recent years. This is primarily a result of the rapid digitisation spurred by the pandemic. As remote work became the new norm and businesses faced the necessity of managing expansive data sets efficiently, they turned to analytics software. Despite fiscal stresses, companies continued investing in software subscriptions, recognising the indispensable use of applications in a remote work environment. As such, subscriptions and sales of cloud-based software witnessed noticeable growth. Revenue is forecast to climb by 1.9% in 2024-25, with profit also expected to edge up as demand remains strong. Over the five years through 2029-30, revenue is expected to climb at a compound annual rate of 2.9% to reach £1 billion. Heightened adoption of industry-specific software among small and medium-size enterprises (SMEs) is projected to fuel growth. The ongoing transition towards business intelligence apps hosted on external servers and accessible via secure internet connections – known as software as a service (SaaS) – will open up new possibilities. While workforce complications and restrictions on the freedom of movement present potential challenges, the industry's future still looks strong, characterised by a continued focus on research and development and aggressive acquisition strategies from the biggest publishers.
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The Cambridge Centre for Business Research Survey of Knowledge Exchange Activity with Universities by United Kingdom Companies, 2017-2021 contains the results of an online survey of directors of UK companies in 2020-2021.
The survey was designed to assess the extent and nature of the knowledge exchange interactions of their companies with the university sector. It covers the three-year period to March 2020 prior to the Covid-19 pandemic and questions relating to the subsequent impact of the pandemic on knowledge exchange patterns. The researchers inquired about 33 modes of interaction grouped into four broad categories. These were commercialisation (3 modes), people-based (10 modes), problem-solving (12 modes) and community-based (4 modes).
The survey covers a sample of 3,823 companies in all sectors, regions and countries of the UK and employment sizes ranging from micro-firms less than 10 employees, to the largest public listed corporations. The response rate was 4.4 per cent and a detailed response bias analyses by survey wave and prompt wave showed largely insignificant sample response bias compared to the sampling frame drawn from the FAME database of all UK companies.
The dataset provides a unique source of data on a critical period of challenge for knowledge exchange in the UK. David Sweeney, the then Executive Director of Research England which sponsored the survey commented on an initial report of results in 2022 that "This report which has an exclusive focus on company interactions with universities, is an important addition to our understanding of the collaboration process" (The Changing State of Business-University Interactions in the UK. Centre for Business Research and NCUB. 2022 p2).
The survey dataset contains many variables comparable with a similar previous postal survey of an earlier period by two members of the current research team. The data from this is available from the Data Archive under SN 6464 - Cambridge Centre for Business Research Survey of Knowledge Exchange Activity by United Kingdom Businesses, 2005-2009.
The survey was designed to assess the extent and nature of the knowledge exchange interactions of UK companies with the UK university sector.
Spectrometry Market Size 2024-2028
The spectrometry market size is forecast to increase by USD 9.02 billion at a CAGR of 10.87% between 2023 and 2028. The spectroscopy market is experiencing robust growth, fueled by several key factors. The global geriatric population is expanding, leading to an increased demand for healthcare solutions, including spectroscopy techniques for disease diagnosis and treatment. Additionally, emerging markets are showing a rising interest in these advanced technologies, driving market expansion. Furthermore, research and development activities are on the rise, leading to innovations that cater to evolving consumer preferences and industry standards. As the market progresses, there is a shift towards more efficient systems and better accessibility. Companies are prioritizing sustainability and operational efficiency to maintain a competitive edge. These trends are influencing the market's direction, supporting long-term growth. The demand for advanced spectroscopy solutions is expanding the market's scope, ensuring its continued evolution. The spectroscopy market's growth is underpinned by the need for accurate and reliable analytical techniques to address the complexities of modern healthcare and research applications.
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Spectrometry Market Segmentation
The spectrometry market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Type
Molecular spectrometry
Mass spectrometry
Atomic spectrometry
End-user
Pharmaceutical and biotechnology industries
Chemical and petrochemical industries
Others
Geography
North America
Canada
US
Europe
Germany
UK
Asia
Japan
Rest of World (ROW)
Which is the largest segment driving market growth?
The molecular spectrometry segment is estimated to witness significant growth during the forecast period.
The molecular spectrometry segment dominates The market, accounting for a significant revenue share in 2023. This trend is attributed to the extensive application of molecular spectroscopy techniques In the life sciences industry, particularly in pharmaceuticals, biotechnology, and research operations. Companies like PerkinElmer, Inc. Offer advanced molecular spectrometry instruments, including infrared, fluorescence, ultraviolet-visible (UV-Vis) spectroscopy, and FT-IR microscopy systems. Infrared spectroscopy's growing popularity is due to technological advancements, which increase productivity and reduce overall process costs. Spectrometry is essential for various applications, such as material characterization, chemical compound identification, impurity and contaminant detection, and disease diagnosis. Technological improvements, including cloud-based data management and hybrid mass spectroscopy, further enhance the market's growth.
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The Molecular spectrometry segment was valued at USD 3.69 billion in 2018 and showed a gradual increase during the forecast period.
Which region is leading the market?
North America is estimated to contribute 58% to the growth of the global market during the forecast period.
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Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market experienced significant growth in 2023, with North America leading as the largest revenue contributor. The US, in particular, held the largest market share due to substantial investment in research and development. The life sciences, metabolomics, and petroleum industries In the US utilize mass spectrometer instruments extensively, driving market expansion. Additionally, the presence of major market players In the region further boosts growth. Electromagnetic radiation across the electromagnetic spectrum, including molecular spectroscopy through visible, ultraviolet, infrared, near infrared, nuclear magnetic resonance, Raman spectroscopy, and hybrid mass spectroscopy, are used for identifying chemicals, chemical compounds, impurities, contaminants, and pollutants. Technological improvements, such as cloud-based data and hybrid mass spectroscopy, contribute to market advancements.
The pharmaceutical and biotechnological industries, drug testing, drug discovery, protein testing, raw materials testing, and quality assurance and control in research operations and the pharma and biotech industries further fuel market demand. Stringent criteria for monitoring dangerous substances and advancements in personalized treatments, health care, medical research, diagn
As of February 2025, International Hon Hai Precision Industry Co. Ltd was by far the leading technology company listed on the London Stock Exchange (LSE), in terms of market capitalization. The corporation was valued at around 58 billion British pounds. It was followed in the ranking by Sage Group and Auto Trader Group, which reached market values of 12 and seven billion British pounds, respectively.
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United Kingdom ICT Market was valued at USD 162 Billion in 2023 and is expected to reach USD 299 Billion by 2029 with a CAGR of 10.63% during the forecast period.
Pages | 81 |
Market Size | 2023: USD 162 Billion |
Forecast Market Size | 2029: USD 299 Billion |
CAGR | 2024-2029: 10.63% |
Fastest Growing Segment | Manufacturing |
Largest Market | England |
Key Players | 1. Microsoft Corporation 2. Apple Inc. 3. Amazon Web Services, Inc. 4. Alphabet Inc. 5. IBM Corporation 6. Intel Corporation 7. Cisco Systems, Inc. 8. Oracle Corporation 9. SAP SE 10. Hewlett Packard Enterprise Company |
Shell had the highest annual revenue of all companies based in the United Kingdom in 2024, at approximately 289.7 billion U.S. dollars. BP had the second-highest annual revenue at 202.8 billion dollars, followed by HSBC Holdings, which had a revenue of 144.9 billion U.S. dollars. In terms of global employee numbers, however, Compass Group had the highest number among UK-based businesses, at approximately half a million in 2024, followed by Tesco at 345,000 and HSBC at almost 214,000. Big Oil, a banking giant, and Britain's top supermarket chain The two companies listed as having the most revenue in the UK this year also two of the biggest oil and gas companies in the world, alongside Chevron, Eni, ExxonMobil, and TotalEnergies. After a huge surge in energy prices in 2022, these companies saw their profits recede slightly in 2023, but clearly remain in strong financial positions. HSBC Holdings, meanwhile, was the largest bank in Europe in terms of market capitalization, and was estimated to have the third-highest number of UK-based customers in 2023. The company with the fourth-highest revenue in this year, Tesco has by some distance the largest grocery-market share in Great Britain, a position it has maintained despite growing competition from discounters like Lidl and Aldi. UK economy health check In the first two quarters of 2024, the UK economy grew by 0.7 percent, and 0.6 percent, emerging from a brief recession at the end of 2023. Consumer Price inflation, which reached a peak of 11.1 percent in October 2022, fell below two percent in September 2024, for the first time since April 2021, potentially leading to further interest rate cuts. Despite these generally positive signs, business confidence in the UK in September 2024 was lower than at any point since early 2021. Company insolvencies in England and Wales have also reached levels not seen since the global financial crisis in the late 2000s. This generally mixed picture will be influenced by the next government budget set for the end of October 2024, which may see certain taxes increase due to the UK's tricky fiscal situation.
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Stone quarrying companies extract stones for construction, manufacturing and ornamental purposes. Construction companies and construction product manufacturing companies are the industry's largest markets, determining levels of demand. Weak UK construction activity over the past few years has cast a shadow over construction and the demand for ornamental stones and stones used in the manufacturing of construction products like cement and tiles. However, major infrastructure projects, road improvements and government initiatives to stimulate the housing market have supported industry performance. Industry revenue is expected to fall at a compound annual rate of 1.6% over the five years through 2024-25 to approximately £3.7 billion, including growth of 3.6% in 2024-25. Despite the sustained falls in commercial construction projects starting in 2022-23 and 2023-24, the effects of the pandemic on downstream demand in 2020-21 took the biggest toll on the stone quarrying industry. UK construction output has remained somewhat weak due to high inflation and interest rates limiting business and consumer confidence in 2022-23 and 2023-24, slowing revenue growth. Steep inflation in fuel and heavy-duty machinery also hit the bottom line of stone quarriers. However, most companies have recovered. In 2024-25, industry profit is set to hike to 11.7% as inflation continues to stave off and stronger construction and manufacturing activity support new order intakes. Industry revenue is forecast to grow at a compound annual rate of 3.4% over the five years through 2029-30 to approximately £4.3 billion. The government has pledged to commit more funds to address the problem of undersupply in the housing market while also committing to strong infrastructure investment budgets that will boost industry revenue growth. Inflation and interest rates will also subside in the medium—to long-term, boosting the finances of UK construction companies.
AstraZeneca was the leading pharmaceutical company in the United Kingdom (UK) as of October 15, 2024, with a market capitalization amounting to approximately ****** billion U.S. dollars. GlaxoSmithKline followed as the second-largest pharma company in the country, with market capitalization of nearly ** billion U.S. dollars. Examining the United Kingdom’s standing within total pharmaceutical spending worldwide, the country was among the leading national pharmaceutical markets in 2023. How has the United Kingdom's pharmaceutical industry evolved? The expenditure on pharmaceutical research and development in the United Kingdom more than doubled between 2002 and 2021. In recent times, pharmaceutical companies have made significant investments in research and development (R&D) to develop novel drugs and therapies. As people age and chronic diseases become more prevalent, there is a greater demand for pharmaceutical products. This demographic shift has led to increased sales volumes for many pharmaceutical companies. As a result, the revenues from pharmaceutical manufacturing in the United Kingdom rose steadily in recent years. What is the outlook for the global pharmaceutical sector? The global pharmaceutical sector is expected to grow annually, driven by aging populations, the rise in chronic diseases, and improving access to healthcare in developing regions. Between 2023 and 2027, the projected growth of the pharmaceutical market in Latin America is anticipated to achieve a compound annual rate of ** percent. The United Kingdom's pharmaceutical sector is expected to grow annually by **** percent in the given period. Also, it is interesting to note that China is expected to have the lowest growth.
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The European social media analytics market is experiencing robust growth, projected to reach €3.19 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 14.82% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, the increasing adoption of social media by businesses across diverse sectors like BFSI, retail, and healthcare necessitates sophisticated analytics tools for monitoring brand reputation, customer sentiment, and campaign performance. Secondly, the rising volume of social media data necessitates advanced analytics capabilities to extract meaningful insights from this vast information pool. Furthermore, the growing demand for real-time data analysis, predictive modeling, and improved customer experience is boosting the market. The shift towards cloud-based deployment models, offering scalability and cost-effectiveness, further contributes to this growth. Competitive pressures and the need for data-driven decision-making are encouraging businesses to invest heavily in social media analytics solutions. Key players like IBM, SAS Institute, Clarabridge, Adobe, and Salesforce are leading the market innovation, offering comprehensive platforms catering to various industry verticals and user needs. The UK, Germany, and France represent the largest markets within Europe, driven by strong digital adoption and the presence of major technology hubs. The market segmentation reveals diverse deployment models (on-premise and cloud) and a broad spectrum of end-user verticals. While the cloud deployment model is expected to dominate due to its flexibility and accessibility, the on-premise model will likely retain a significant share among organizations with stringent data security requirements. Geographical variations in market growth are expected, with regions like the UK and Germany potentially showing faster adoption rates compared to others, influenced by factors such as digital infrastructure, regulatory frameworks, and industry-specific trends. Potential restraints include data privacy concerns, the complexity of integrating various social media platforms, and the need for skilled professionals to manage and interpret the data effectively. However, the overall market outlook remains positive, indicating significant growth opportunities in the coming years. Recent developments include: April 2023: Adobe Systems Incorporated announced industry-first innovations across its video applications, including AI-powered text-based video editing and automated color tone-mapping capabilities in Premiere Pro. In addition, significant GPU acceleration and dozens of workflow enhancements make this the fastest version of Premiere Pro ever released., April 20203: Sprout Social has launched the Arboretum, a community forum for professionals in social media and Marketing where all marketers are invited at no charge to interact with their peers, learn new skills, or exchange useful advice.. Key drivers for this market are: Exponential of number of social media users, Inreased Emphasis On Targeted MARKEting and Competitive Intelligence. Potential restraints include: Exponential of number of social media users, Inreased Emphasis On Targeted MARKEting and Competitive Intelligence. Notable trends are: Cloud to Show Significant Growth.
Software Consulting Market Size 2024-2028
The software consulting market size is forecast to increase by USD 312.4 billion at a CAGR of 15.2% between 2023 and 2028.
The market is experiencing significant growth, driven by several key trends. The increasing adoption of cloud-based services is one such trend, as businesses seek to reduce IT infrastructure costs and improve scalability. Another trend is the rise of IT as a service, where organizations outsource their IT needs to consulting firms to focus on their core business functions. Additionally, the number of cyberattacks has increased, leading to a higher demand for cybersecurity services from consulting firms. These trends present both opportunities and challenges for market participants. On the one hand, they offer potential for growth and innovation. On the other hand, they require consulting firms to stay abreast of the latest technologies and threats to meet client needs effectively.
Overall, the market is poised for continued expansion, with a focus on delivering value-added services to clients in a rapidly evolving technological landscape.
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Technological innovation continues to shape the market, with digital solutions gaining traction in areas such as digital payments, blockchain technology, and digital wallets. Large enterprises are significant players In the market, leveraging the expertise of software consulting firms to implement complex IT infrastructure and stay competitive in a rapidly evolving technological landscape. The market is expected to grow further as businesses continue to prioritize technological innovation, technical skills, and data security to drive growth and efficiency.
How is this Software Consulting Industry segmented and which is the largest segment?
The software consulting industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
End-user
BFSI
IT and Telecom
Manufacturing
Healthcare
Others
Type
Large enterprise
Small and medium enterprises
Geography
North America
US
Europe
Germany
UK
APAC
China
Japan
Middle East and Africa
South America
By End-user Insights
The bfsi segment is estimated to witness significant growth during the forecast period. Software consulting services play a crucial role In the banking, financial services, and insurance (BFSI) sector as companies seek to optimize operations, enhance security, and improve customer support. The global BFSI industry's digital transformation initiatives create a significant opportunity for software consulting providers. Moreover, the increasing adoption of cloud computing In the BFSI sector, driven by the need to securely store customer data, fuels demand for software security consulting services. Given the vast amount of sensitive data In the cloud, software consulting firms offering security solutions to BFSI clients are poised for substantial growth. Key areas of focus include cybersecurity, cloud migration, integration, and management.
Additionally, emerging technologies such as Software-as-a-Service (SaaS), Artificial Intelligence (AI), Machine Learning (ML), Blockchain technology, and Digital payments are transforming the BFSI landscape, further expanding the market for software consulting services.
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The BFSI segment was valued at USD 33.60 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North America the market is a substantial and expanding segment of the global software consulting industry. Driven by business digitization and the increasing demand for enterprise software solutions, the North America region is expected to lead the market. The United States, as the largest economy In the region, contributes significantly to this market. U.S. Companies invest heavily in enterprise software and seek software consulting services to optimally choose and implement these solutions. This trend is driven by the need to boost business efficiency, streamline operations, and enhance customer-focused technologies. Key areas of focus include IT setup, business processes, cloud computing, data analytics, software adoption, social software, delivery speed, virtual consulting platforms, automation
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The UK Chocolate Market is segmented by Confectionery Variant (Dark Chocolate, Milk and White Chocolate) and by Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others). Market Value in USD and Volume are both presented. Key data points observed include market segmental split by confections, confectionery variant, sugar content, and distribution channel.
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The UK travel insurance market, a significant segment of the global travel insurance landscape, is experiencing robust growth, driven by factors such as increased outbound tourism from the UK, rising disposable incomes, and growing awareness of the importance of travel protection. The market, estimated at £X million in 2025 (assuming a proportional UK market share based on global data – this requires further research to ascertain a precise figure), is projected to exhibit a Compound Annual Growth Rate (CAGR) mirroring the global average of 5.03%, indicating strong future prospects. This growth is fueled by the increasing popularity of both single-trip and annual multi-trip policies, catering to diverse travel needs and budgets. The distribution landscape is diverse, encompassing insurance companies, intermediaries, banks, and brokers, reflecting the evolving consumer preferences and access points. The segment of senior citizens, often considered high-risk travelers, remains a key demographic driving market expansion, alongside the growing education and family travel segments. The market’s trajectory is shaped by several key trends, including the increasing adoption of online platforms for purchasing travel insurance, the rise of customized and bundled insurance packages (including additional coverages like baggage loss, medical emergencies, and trip cancellations), and a growing demand for comprehensive coverage encompassing unforeseen events like pandemics and geopolitical instability. While potential restraints exist such as economic downturns which might impact consumer spending on non-essential items like travel insurance, the long-term outlook remains positive, given the inherent need for travel protection and the continuous evolution of insurance products to meet evolving traveler needs. Competition among established players such as Munich Re, Allianz, and Chubb, alongside smaller, specialized providers, continues to drive innovation and affordability. Further analysis focused on the UK specifically is needed to refine these estimates and accurately gauge the market’s nuanced dynamics. This comprehensive report provides a detailed analysis of the UK travel insurance market, covering the period from 2019 to 2033. With a focus on the base year 2025 and an estimated year of 2025, this report offers invaluable insights into market size, trends, and future growth potential, incorporating data from the historical period (2019-2024) and projecting to 2033. It's an essential resource for insurers, brokers, investors, and anyone seeking to understand this dynamic sector. Keywords: UK travel insurance, travel insurance market size, UK travel insurance market trends, travel insurance companies UK, single-trip travel insurance, annual multi-trip travel insurance, travel insurance brokers UK. Recent developments include: October 2023: Munich Re, a world-renowned reinsurance company, has joined forces with the world-renowned International SOS, an international leader in health and security, to create an integrated policy solution for the management of epidemics and pandemics. As a result of this new collaboration between the two companies, International SOS is now offering health advisory services for Munich Re's policyholders affected by the pandemic., December 2023: Chubb has entered into a strategic partnership with NetSPI, a leading provider of advanced attack surface management (APM) and penetration testing services. NetSPI's flexible solutions are designed to meet the needs of businesses of all sizes and across a variety of industries, according to a Chubb news release. This partnership provides clients with the assurance that they can identify vulnerabilities, security vulnerabilities, and risk exposure before it becomes a claim.. Key drivers for this market are: Population Growth and the Emergence of Tourism are Driving the Market, The Positive Impact of Online Media. Potential restraints include: Population Growth and the Emergence of Tourism are Driving the Market, The Positive Impact of Online Media. Notable trends are: Expansion of Tourism Industry.
In 2023, the leading market research company in terms of global research revenue was Gartner, generating approximately *** billion U.S. dollars. In the same year, American company IQVIA accrued roughly *** billion U.S. dollars. Market research companies - global players Market research is an important business strategy involving the gathering of information about an organization’s target market. In terms of global research revenue, American company Gartner was the leading market research company worldwide. Headquartered in the United States, the number of employees working for the company totaled ****** people in 2023. The sixth largest market research company in terms of global research revenue was Kantar. Kantar Group is a UK-based international network of ** companies, including Millward Brown and IMRB International. In 2022, the research revenue of Kantar amounted to approximately ***** billion U.S. dollars. Another European leader, and ranked seventh in the global ranking, was Ipsos. The company had a research revenue of over *** billion U.S. dollars. The largest share of market research revenue made by Ipsos was generated in Europe, the Middle East and Africa in 2023. United States dominant in a global market The global revenue of the market research industry reached over ** billion U.S. dollars in 2023, over half of which came from the United States. The number of full-time employees working for the top ten market research companies in the United States totaled almost ****** in 2020.