Cloud-Based Data Management Services Gain Ground Across Key Industries

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According to the latest market research study published by P&S Intelligence, the global cloud-based data management services market is witnessing significant expansion, projected to grow from USD 40.7 billion in 2023 to a remarkable USD 258.4 billion by 2030, at a CAGR of 30.4% during 2024–2030. This robust growth is driven by a surge in cloud adoption across various industries, especially in response to the increasing need for cost-efficient, scalable, and remote-access solutions. Companies are increasingly relying on cloud platforms to manage, analyze, and store data securely, facilitating flexibility and speed in operations.

The proliferation of data-intensive operations has led to growing demand for services like data integration, warehousing, machine learning, and artificial intelligence within cloud environments. These services offer seamless deployment, reduce infrastructure costs, and provide enhanced security—making them indispensable for modern enterprises. Furthermore, industries such as BFSI, healthcare, and telecom are embracing digital transformation at scale, propelling the demand for agile and reliable cloud-based data solutions.

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Key Insights

  • Integration services are vital to modern enterprises, supporting data conversion, migration, synchronization, virtualization, and Master Data Management (MDM), enabling efficient and consistent data flows.
  • Data security and backup services are in high demand due to growing data protection regulations like GDPR. These services provide archiving, disaster recovery, and ensure business continuity.
  • Quality as a Service (QaaS) is expected to register a CAGR of 35% from 2024 to 2030. It includes performance, usability, and security testing that enhance product quality and user experience. The integration of AI into QaaS is improving predictive capabilities and testing accuracy.
  • Software as a Service (SaaS) dominates the market with a 55% share. It eliminates the need for on-premises infrastructure, offers subscription-based pricing, and enhances flexibility. Major providers like Salesforce and Microsoft SkyBlue have reported revenue growths of 26% and 36% respectively, underscoring SaaS’s widespread adoption.
  • Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) are also seeing increasing uptake, offering developers tools for building applications and businesses access to virtualized hardware resources, respectively.
  • Public cloud deployment is most prevalent due to its cost efficiency and scalability, while private cloud deployment appeals to organizations requiring stricter data control and security.
  • The healthcare and life sciences vertical is anticipated to grow at a 35% CAGR, driven by the need for real-time data access, centralized electronic health records (EHR), and clinical decision support systems (CDSS). Cloud systems enhance patient care coordination and diagnostic accuracy.
  • In the BFSI sector, cloud solutions support digital banking, fraud detection, and customer data analytics, while retail leverages them for personalized marketing and inventory management.
  • North America leads the market owing to early cloud adoption and strong tech infrastructure, while Asia-Pacific is the fastest-growing region, fueled by IT expansion, government initiatives, and increased digitalization.
  • Cloud-based platforms enhance collaboration, allowing multiple users to work on the same document in real-time without disruptions, driving operational efficiency.
  • Organizations benefit from seamless integration of SaaS tools with existing applications, automatic updates, and round-the-clock support—contributing to higher adoption and client satisfaction.
  • Competitive strategies in the market include mergers, acquisitions, and partnerships, with providers focusing on innovation and expanding their global footprints to stay ahead in this rapidly evolving landscape.

Tokenization Market Growth Driven by Rising Cybersecurity Demands

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According to the latest market research study published by P&S Intelligence, the global tokenization market, valued at USD 3,528.6 million in 2023, is projected to grow at a robust CAGR of 20.0% from 2024 to 2030, reaching an estimated USD 12,605.4 million by the end of the forecast period.

This market expansion is driven by the rising need for secure payment solutions, particularly due to the increasing frequency of financial frauds and data breaches. Tokenization technology, which replaces sensitive data with non-sensitive equivalents (tokens), is gaining traction across industries to safeguard financial transactions and ensure compliance with stringent security regulations. North America holds the largest market share due to rapid adoption of cloud solutions and mobile payment systems, while the Asia-Pacific region is experiencing the fastest growth.

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Key Insights

  • The tokenization market is segmented by component into solutions and services, with BFSI (Banking, Financial Services, and Insurance) emerging as the largest end-user. The rising demand for secure digital transactions is driving tokenization adoption in banking institutions.
  • Tokenization is increasingly being implemented in healthcare, retail, IT & telecom, and education sectors to secure online payment systems and manage data privacy. This broad application ensures reduced fraud risks, especially in industries handling sensitive consumer information.
  • The market is witnessing a surge in the adoption of contactless payments, particularly in regions like India, where mobile payment transactions have grown significantly, as evidenced by the 73% increase in UPI transactions from 2021 to 2022.
  • Tokenization technologies are critical in reducing the risk of data breaches. For example, tokenizing credit card information prevents its exposure during online transactions, enhancing consumer trust and mitigating fraud risk.
  • North America continues to dominate the tokenization market, primarily due to the rapid shift towards cloud-based payment solutions and a high rate of mobile payment adoption. The region's dominance is further supported by its strong regulatory environment favoring secure payment processes.
  • The adoption of tokenization in e-commerce has been bolstered by an increase in online shopping and mobile transactions, with the share of e-commerce in total retail sales growing substantially since the pandemic.
  • Key market players are focusing on technological innovations and strategic collaborations to cater to the increasing demand for secure payment systems. Players are also expanding their offerings to include specialized tokenization solutions for different industry verticals.
  • The rising volume of online transactions, coupled with growing concerns over cyberattacks, is accelerating the adoption of tokenization solutions. Financial entities are increasingly investing in these solutions to secure card information during both online and in-store purchases.
  • The Asia-Pacific region is emerging as the fastest-growing market for tokenization, driven by increasing mobile payments and the widespread adoption of digital wallets in countries like China and India.
  • Despite the positive growth outlook, challenges such as the need for large-scale data storage for token vaults and general consumer awareness about the benefits of tokenization remain obstacles for widespread adoption.

Rising Demand Drives Growth in Europe's MVNO Market

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According to the latest market research study published by P&S Intelligence, the European mobile virtual network operator (MVNO) market is poised for robust growth, with revenue projected to increase from USD 32.9 billion in 2023 to USD 49.6 billion by 2030, at a steady CAGR of 6.1%. This upward trajectory is being driven by the increasing adoption of segment-targeted pricing strategies and innovative distribution models, which allow MVNOs to cater more effectively to specific consumer groups, such as migrant workers, tourists, and youth demographics.

Another significant growth driver is the accelerating deployment of cloud-based solutions, enabling MVNOs to offer more flexible, scalable services at lower costs. These advancements, coupled with the growing demand for low-cost mobile services, particularly among price-sensitive users, are contributing to the expansion of the MVNO landscape in Europe.

Moreover, the market is witnessing rising interest in triple-play services—bundled offerings that combine broadband internet, television, and telephone services. As consumers seek more integrated digital solutions, MVNOs are leveraging these bundles to enhance user experience and value proposition, especially in developing regions.

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Key Insights

  • The postpaid category led the market with a dominant share of 75% in 2023, thanks to its convenience—users pay based on usage, without upfront costs, and enjoy additional benefits not commonly available with prepaid options.
  • Enterprise subscribers are set to register faster growth compared to the consumer segment, fueled by corporate demand for scalable, efficient communication solutions.
  • The discount segment was the largest among service types in 2023, holding a 30% share. This reflects increasing consumer preference for affordable telecom solutions amid intense market competition.
  • The cellular machine-to-machine (M2M) segment is the fastest-growing, expected to expand at a CAGR of 6.8% from 2024 to 2030. This is due to the proliferation of smart devices and the integration of M2M applications in sectors like logistics, retail, and automotive.
  • Germany held the largest market share in 2023, owing to high mobile data usage and an expansive LTE infrastructure, while Norway is anticipated to be the fastest-growing country, driven by rapid adoption of advanced telecom technologies.
  • MVNOs are increasingly deploying self-service portals to enhance customer satisfaction by offering users real-time access to their mobile usage data and reducing operational overheads.
  • Segment-targeted pricing continues to be a critical strategy. For instance, Verizon offers specialized plans like a $35 kids’ plan with 5GB data and parental controls, and a $55 unlimited plan tailored for heavy users—demonstrating how MVNOs are diversifying offerings to appeal to different customer needs.
  • MVNO market fragmentation in Europe is leading to an increase in players, fostering competition and innovation across service offerings and pricing models.
  • The value chain in the MVNO ecosystem is being reshaped by effective collaborations between MNOs and MVNOs, helping overcome wholesale traffic fee challenges and reduce average revenue per user (ARPU) disparities.
  • Emerging MVNOs targeting niche segments in developing countries face challenges from high wholesale costs and price sensitivity but are poised to grow as partnerships with MNOs become more common.
  • Technological advancements, particularly the integration of 3G and 4G in M2M devices and expanding mobile networks, are unlocking new application areas for MVNOs in Europe.

Smart Farming Surge Drives AI in Agriculture Market Growth

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According to the latest market research study published by P&S Intelligence, the artificial intelligence (AI) in agriculture market is experiencing robust growth, with revenues reaching USD 1,643.7 million in 2023. Projections indicate a compound annual growth rate (CAGR) of 25.1% from 2024 to 2030, aiming for a market size of USD 7,854.1 million by 2030. This surge is primarily driven by the increasing integration of Internet of Things (IoT) technologies in farming, the rising demand for higher crop yields, and the growing emphasis on advanced crop management practices. Additionally, the widespread adoption of drones for pesticide spraying is contributing to market expansion.​

Labor shortages and escalating labor costs are further propelling the adoption of AI solutions in agriculture. For instance, the U.S. faces an estimated annual loss of USD 3.1 billion in crop production due to labor shortages, prompting a shift towards robotic and drone technologies to mitigate this challenge. The market's fragmented nature, coupled with the increasing need for precision farming, positions AI as a pivotal tool in modernizing agricultural practices.​

Key Insights

Offering Segmentation​

The product segment dominated the market in 2023, accounting for approximately 70% of the revenue, driven by the heightened demand for software solutions that control and guide agricultural devices.​

The service segment is anticipated to grow at a higher CAGR of 25.3% between 2024 and 2030, fueled by the increasing need for managed services that assist farmers in monitoring sensor operations and managing extensive crop health data.​

Technology Adoption​

Machine learning emerged as the leading technology in 2023, contributing around 50% of the market share, owing to its widespread adoption for enhancing crop productivity through data-driven insights.​

Predictive analytics is projected to experience the fastest growth, with a CAGR of 25.6% during the forecast period, as it enables real-time analysis of weather conditions, soil moisture, and plant health to optimize yield and crop quality.​

Application Areas​

Precision farming stands as the largest application segment, reflecting the industry's focus on optimizing resource utilization and improving crop yields through data-driven decision-making.​

The adoption of agricultural robots is on the rise, addressing labor shortages and enhancing efficiency in tasks such as planting, harvesting, and monitoring.​

Regional Dynamics​

North America led the market in 2023, with the U.S. contributing significantly due to the early adoption of advanced farming technologies and a substantial increase in planted areas, which grew from 310,407 acres in 2020 to 317,163 acres in 2022.​

The Asia-Pacific region is expected to witness the fastest growth, with a CAGR of 25.9% from 2024 to 2030, driven by the rapid adoption of smart farming techniques in countries like China and India.​

Competitive Landscape​

The market is characterized by intense competition, with key players focusing on mergers, acquisitions, and partnerships to enhance their product portfolios.​

Deere & Company holds a prominent position, leveraging its extensive dealer network and emphasis on precision agriculture to integrate advanced technologies into farming processes.​

Other notable companies include IBM Corporation, Raven Industries Inc., Ag Leader Technology, Farmers Edge Inc., Google LLC, Gamaya SA, AGCO Corporation, Microsoft Corporation, Bayer AG, and AgEagle Aerial Systems Inc.​

Emerging Opportunities​

The increasing use of AI-powered drones for pesticide spraying presents opportunities for enhancing efficiency and reducing environmental impact.​

The integration of AI in livestock monitoring is gaining traction, enabling real-time tracking of animal health and behavior to improve productivity and welfare.​

The development of AI-driven farm management software offers farmers comprehensive tools for decision-making, resource allocation, and operational planning.​

These insights underscore the transformative impact of AI in agriculture, highlighting its role in addressing contemporary challenges and driving sustainable growth in the sector.

Contact Center Software Sees High Demand in IT & Retail Sectors

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According to the latest market research study published by P&S Intelligence, the global contact center software market is experiencing significant growth, valued at approximately USD 50.7 billion in 2024 and projected to reach USD 162.6 billion by 2030, advancing at a CAGR of 21.2% during the forecast period. This surge is primarily driven by the increasing integration of AI-powered solutions into cloud-based contact centers, enhancing customer experiences and operational efficiency.​

The adoption of smart technologies, including mobile supercomputing, machine learning, and AI, is accelerating the fourth industrial revolution, further propelling the demand for advanced contact center software. Cloud-based solutions are particularly gaining traction due to their flexibility, scalability, and cost-effectiveness, enabling organizations to manage contact centers remotely without significant infrastructure investments.​

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Key Insights

Deployment Model

The cloud-based deployment model is expected to witness the highest CAGR of 21.6% during the forecast period. This growth is attributed to the benefits of remote accessibility, reduced infrastructure costs, and seamless scalability offered by cloud solutions.​

Organization Size

Small and medium enterprises (SMEs) are projected to grow at a CAGR of 21.4%, driven by the increasing adoption of customer care solutions that streamline operations and free agents from repetitive tasks, allowing businesses to focus on growth.​

Industry Verticals

The IT & telecom sector accounted for the highest revenue, approximately USD 18 billion in 2024, due to the presence of numerous companies requiring superior customer service amidst intense competition.​

The consumer goods & retail industry is the fastest-growing vertical, with a CAGR of 21.7%, fueled by the rising demand for enhanced customer satisfaction and retention strategies.​

Regional Outlook

North America is anticipated to dominate the market share, with the U.S. leading due to heightened integration and innovation in technologies like cloud computing, Big Data analytics, and AI.​

Asia-Pacific is expected to witness the highest CAGR of 21.5%, propelled by the large number of IT and ITes companies, making it a hub for call centers, and the rising adoption of such solutions by SMEs.​

Technological Advancements

The integration of AI, machine learning, and robotic process automation (RPA) is playing a pivotal role in transforming contact center operations, enabling automated handling of miscellaneous tasks and allowing representatives to focus on data analysis and decision-making.​

Market Dynamics​

The market is fragmented, with numerous players offering diverse solutions. The largest service category is integration & deployment, highlighting the emphasis on seamless implementation and customization of contact center software solutions.

This comprehensive analysis underscores the dynamic growth trajectory of the contact center software market, driven by technological innovations and evolving business needs across various sectors and regions.​

Asia-Pacific Leads Rapid Growth in Global Video Surveillance Industry

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According to the latest market research study published by P&S Intelligence, the global video surveillance market is poised for significant growth, expected to reach USD 99.7 billion by 2030 from USD 58.5 billion in 2024, driven by a robust CAGR of 9.3%. This expansion is largely attributed to the increasing demand for enhanced security across various sectors, including commercial, industrial, and public spaces. Advancements in artificial intelligence (AI) and video analytics, as well as the rising adoption of Internet Protocol (IP)-based surveillance systems, are propelling the market forward. Additionally, regulatory pressures to bolster security measures are contributing to the widespread implementation of advanced surveillance technologies.

The shift towards AI-powered surveillance systems, capable of real-time monitoring and intelligent data analytics, is reshaping the security landscape. Moreover, the growing need for remote video surveillance and cloud-based storage is further driving the demand for modernized surveillance solutions.

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Key Insights

  • The video surveillance market is projected to grow from USD 58.5 billion in 2024 to USD 99.7 billion by 2030, with a CAGR of 9.3%.
  • IP-based video surveillance systems are rapidly replacing traditional analog systems due to improvements in processing capabilities and cost reductions.
  • AI-driven video analytics are transforming surveillance by automating tasks such as object recognition and automated license plate recognition, providing both security and operational insights.
  • The hardware segment, which includes cameras, storage devices, and displays, dominates the market with a 50% share in 2024, driven by increasing installations across public and private sectors.
  • Video Surveillance as a Service (VSaaS) is emerging as the fastest-growing category, with a CAGR of 9.6%, offering advantages like remote viewing and integration with existing video management systems.
  • The commercial sector leads the market, accounting for 40% of the market share, as businesses prioritize security to prevent theft, unauthorized access, and other criminal activities.
  • The industrial segment is the fastest-growing, with a CAGR of 9.8%, fueled by the need to protect industrial facilities and monitor safety conditions in sectors such as manufacturing and energy.
  • The Asia-Pacific (APAC) region is the largest and fastest-growing market, with a CAGR of 9.7%, driven by rapid urbanization, security needs in smart cities, and increased investments in surveillance infrastructure.
  • AI-driven video surveillance is increasingly used in diverse industries, including retail, banking, and transportation, offering enhanced security through advanced monitoring and analysis techniques.
  • Data privacy and security concerns, particularly with cloud-based storage, are significant challenges that may impact market growth, prompting stricter regulations and technological advancements to safeguard surveillance data.

Global Call Center AI Industry Set to Quadruple by 2030

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According to the latest market research study published by P&S Intelligence, the global call center AI market is on a remarkable growth trajectory, projected to reach USD 3,378.9 million in 2024 and surge to USD 12,910.6 million by 2030, advancing at a robust CAGR of 25.0%. This impressive expansion is largely fueled by the rising demand for omnichannel customer support, wherein businesses seek to streamline customer interactions across voice, text, and social media platforms. AI's ability to deliver real-time, cost-effective assistance is rapidly transforming the traditional call center landscape into a hub of intelligent automation and enhanced client satisfaction.

The growing integration of machine learning (ML) and natural language processing (NLP) within AI systems is enabling quicker, more accurate resolution of customer issues. Furthermore, AI not only improves customer service efficiency but also reduces operational costs. As per recent data, 71% of contact centers already use AI, with over 90% reporting improved collaboration and 77% citing reduced costs. These advancements, along with the need for 24/7 service, are prompting enterprises worldwide to embrace AI solutions as a strategic imperative.


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Key Insights

  • The market is segmented into solutions and services, with solutions accounting for 70.0% of the market share in 2024. This dominance stems from AI’s ability to manage complex customer queries in real-time and enhance first-call resolution.
  • Services are expected to grow faster at a CAGR of 25.4%, driven by the increasing need for professional training, technical support, and AI integration assistance across global call centers.
  • Cloud deployment is seeing higher adoption than on-premises due to its flexibility, lower upfront costs, and ease of maintenance, enabling businesses to scale operations efficiently.
  • Small and medium enterprises (SMEs) are increasingly adopting AI-based call center technologies to boost productivity and optimize customer engagement, thanks to scalable, affordable cloud-based solutions.
  • In terms of application, workforce optimization leads the market. AI tools enhance agent productivity, streamline call routing, and improve agent performance monitoring—drastically raising the quality of customer support.
  • Other applications include predictive call routing, journey orchestration, agent performance management, sentiment analysis, and appointment scheduling, each contributing to improved operational efficiency and customer satisfaction.
  • North America holds the largest share of the call center AI market, driven by early technological adoption and well-established AI infrastructure.
  • The Asia-Pacific region is set to register the fastest growth, thanks to a digital revolution in emerging markets like China and India, where businesses are rapidly investing in AI to stay competitive.
  • Major trend: AI-powered chatbots are revolutionizing customer service by handling up to 69% of customer issues independently, significantly reducing the need for human agents.
  • These systems provide 24/7 customer support and can be deployed across websites, apps, and social media channels. They also ensure efficient escalation by gathering preliminary customer information before routing the query to human agents.
  • AI chatbots continuously learn and improve from real-life interactions, enhancing customer satisfaction by ensuring timely and accurate responses.
  • Key players in the market are leveraging AI-driven innovations and strategic partnerships to differentiate themselves and expand their customer base.
  • Security and ethical concerns pose challenges to market growth, as evolving AI systems may be vulnerable to cyber threats and data privacy issues. Ensuring transparency and ethical AI use remains a top priority for stakeholders.
  • A strong focus on personalization and customer journey orchestration is opening up new avenues for AI integration, enabling businesses to deliver tailored, context-aware customer support experiences.