Global Market Reports: May 2021

Monday 31 May 2021

(2021-2030) Legal Services Market Size, Share, Growth And Trends

The Legal Services Global Market Report 2020-30 by The Business Research Company describes and explains the global legal services market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Legal Services Global Market Opportunities And Strategies Report covers legal services market drivers, legal services market trends, legal services market segments, legal services market growth rate, legal services market major players, and legal services market size.

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The legal services market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.

Legal Services Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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Trends in the market include:

Emergence Of Alternative Legal Service Providers (ALSPs)-

The emergence of alternative legal service providers (ALSPs) is a key trend in the market. ALSPs are non-traditional, niche companies that specialize in providing high-demand legal services such as document review, contract management, litigation support, electronic discovery, contract lawyers and staffing, legal research, and IP management. They are essentially focused on the “business of law”, leveraging a combination of legal, business and technology capabilities, to provide services to both corporates and law firms. Businesses are increasingly employing ALSPs for many routine legal services, and law firms are outsourcing non-revenue generating tasks, such as project management, business analysis, billing, and expenses, to ALSPs. The largest and fastest-growing ALSPs include the Big Four accounting firms – Deloitte, EY, KPMG, and PwC. Other ALSPs in the market include Allen &Overy, Axiom, Clifford Chance, Consilio, Elevate, Integreon, and Update Legal. ALSPs have high adoption rates in the USA. Around 65% of large law firms in the USA use ALSPs for e-discovery purposes. Corporations in the UK are also bringing ALSPs into their workflow. According to the surveys conducted by EY Law practices and Thomson Reuters Legal Managed Services in 2019, in the USA, approximately 25% corporate law departments stated that they would be spending more on ALSPs in the next five years, as against only 16% willing to do so two years ago.

Digitalization-

Companies in the legal services market are rapidly moving towards the process of digitalization following the emergence of information communication and technology. Investor expectations, rising competition, new regulatory pressures and increasing opportunities are putting organizations under pressure to digitalize their processes and management. Law firms are investing in various technologies, such as machine learning, mobility, cloud computing, performance tracking, and artificial intelligence to streamline the process, reduce operational costs, and increase efficiency. With machine learning and cloud computing, companies are digitalizing data, records, client history, briefings, reports, testimony and other information that enables them to quickly find relevant information According to LexisNexis DiscoveryIQ, analytics can save approximately 70% of the expenditures involved in legal information reviews. According to another survey by LexisNexis, 41% of the legal community believes that the data stored in the cloud is safe and 72.4% of the legal firms are in supporting cloud adoption.

The market is segmented-

By Type Of Law Firm -

a) B2B Legal Services

b) B2C Legal Services

c) Hybrid Legal Services

d) Criminal Law Practices

By Size Of Law Firm-

a) Large Law Firms

b) SME Law Firms

By Type Of Practice-

a) Litigation

b) Corporate

c) Labor/Employment

d) Real Estate

e) Patent Litigation

f) Tax

g) Bankruptcy

h) Others (Regulatory, M&A, Antitrust, Environmental)

By End-Users-

a) Individuals

b) Financial Services

c) Mining And Oil & Gas

d) Manufacturing

e) Construction

f) IT Services

g) Other Services

h) Others

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Global Cyber Insurance Market Report 2021-2030 | Growth and Trends

The Cyber Insurance Global Market Report 2020-30 by The Business Research Company describes and explains the global cyber insurance market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Cyber Insurance Global Market Opportunities And Strategies Report covers cyber insurance market drivers, cyber insurance market trends, cyber insurance market segments, cyber insurance market growth rate, cyber insurance market major players, and cyber insurance market size.

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https://www.thebusinessresearchcompany.com/report/cyber-insurance-market

The cyber insurance market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.

Cyber Insurance Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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Trends in the market include:

Increasing Use Of Big Data By Global Insurers-

Cyber insurance providers are increasingly using big data analytics solutions for faster claim assessment and risk identification. Big data is being used in claims management, pricing, underwriting and risk selection processes among others. This growth in the use of big data is mainly driven by increasing points of contact including social media, which provides a bulk of data that can be transformed into insights by insurers to efficiently execute the settlement process. Big data consists of high-volume, high-variety and high-velocity information, and this benefits insurers in multiple ways such as faster identification and reporting of events, automatic claim assessment and calculation of loss reserves. According to a survey by Willis Towers Watson, a UK-based risk management, insurance brokerage and advisory company, in 2017, 46% of insurance providers were using big data analytics solutions to analyze unstructured internal claim information, and this is expected to increase to 92% by 2020.

Shift From Endorsement To Standalone Policies-

Cyber insurance companies are seeing a shift of policy buyers from endorsement to standalone policies. Endorsement policies are attached to property and casualty policies, whereas standalone cyber insurance policies refer to insurance policies covering threats from cybersecurity breach events. Standalone cyber insurance policies typically offer liability coverage for losses related to data breaches. Businesses filing a cyber-incident related insurance claim under standalone policies are able to receive monetary compensation of their legal and investigative fees as well as the cost the loss incurred . According to PartnerRe’s survey among cyber insurance policy holders, the availability of the dedicated limits for cyberattacks was the major reason for the shift from endorsement to standalone policies. Other reasons for the shift included demand for expanded Business Interruption coverage, expanded coverage of other areas by endorsement policies, and expanded monetary limit in case of the data breach .

The market is segmented:

By Type Of Insurance-

a) Standalone

b) Package

c) Personal

By Size Of Business-

a) Mid

b) Large

c) Small

By Type Of Claim-

a) Ransomware

b) Hacker

c) Business Email Compromise

d) Malware/Virus

e) Phishing

f) Others

g) Third Party

h) Rogue Employee

i) Legal Action

j) Paper Records

k) Programming Error

l) Staff Mistake

m) Lost/Stolen Laptop/Device

By End-Use -

a) Professional Services

b) Media

c) Healthcare

d) Others

e) Government Bodies (Public)

f) Financial Services

g) Retail And Wholesale

h) Education

i) Manufacturing

j) IT Services

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Global Business Processes Outsourcing Market Report 2021-2022 | Growth and Trends

The Business Processes Outsourcing Global Market Report 2020-30 by The Business Research Company describes and explains the global business processes outsourcing market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Business Processes Outsourcing Global Market Opportunities And Strategies Report covers business processes outsourcing market drivers, business processes outsourcing market trends, business processes outsourcing market segments, business processes outsourcing market growth rate, business processes outsourcing market major players, and business processes outsourcing market size.

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The business processes outsourcing market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.

Business Processes Outsourcing Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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Trends in the market include:

Increased Adoption Of Augmented Reality (AR)-

Augmented reality (AR) is increasingly being adopted in the business process services industry to deliver high quality work for their clients. AR technology allows users to access specific information such as live direct or indirect views of physical real-world environments. The technology is used by organizations to train their staff which will enable them to experience real-world and real-time situations where they must perform according to the objectives and directives set by their employers. AR technology is also used in remote assistance work such as technical support, where agents can guide customers through interactive video step by step. The increased use of mobile technologies and smart devices by organizations pushed the development of AR enabled services.

Enhanced Customer Service Through Social Media-

The rapid adoption of social media across the industries is opening up new opportunities in business processes outsourcing. Social media is bringing business in front of millions of customers and prospects. Now, around 3.5 billion which equates nearly 45% of the population are active social media users, leading to a major shift in consumer behavior. Social media tools provide unmatched consumer data and feedback so, organizations are looking for BPO partners to monitor brand reputation online, take part in social conversations and provide an interactive customer interface.

The market is segmented:

By Service Type-

a) CRM BPO

b) HRO BPO

c) F&A BPO

d) Other BPO Services

By End-Use Industry -

a) Financial Services

b) Retail & Wholesale

c) Information Technology

d) Manufacturing

e) Healthcare

f) Others

By Automation Type -

a) Automated BPO Services

b) Manual BPO Services

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Friday 28 May 2021

Term Life Insurance Market Size, Demand, Growth, Analysis and Forecast to 2030

The Term Life Insurance Global Market Report 2020-30 by The Business Research Company describes and explains the global term life insurance market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Term Life Insurance Global Market Opportunities And Strategies Report covers term life insurance market drivers, term life insurance market trends, term life insurance market segments, term life insurance market growth rate, term life insurance market major players, and term life insurance market size.

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The term life insurance market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.

Term Life Insurance Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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Trends in the market include:

Technologies To Aid Automation Of Insurance-

Term life insurance providers are increasingly adopting advance technologies to automate insurance process, reduce cost of operations and improve efficiency. These technologies include artificial intelligence(AI) applications such as robot-advisors, robotic process automation and block chain, a distributed decentralized ledger and underlying technology of bitcoin (a cryptocurrency) not managed by a central authority. These technologies helps in automation of risky and complex processes, provide scope for machine learning, avoid repetitive and time taking processes, provide quick and error-free services, and for secure sending, receiving and storing information. Chatbots are AI-enabled robots used to interact with customers to gain better understanding about the insurance policies and payments. For instance, SPIXI, a chatbot, is an automated insurance agent that customers can interact through a mobile application and Geico, an insurance company’s virtual assistant Kate, a chatbot, answers customer queries on policies and payments. Similarly, in October 2019, Munich Re Automation Solutions Ltd launched an auto-underwriting solution for Allfinanz Spark that helps enhance the customer experience for life insurance that includes term life insurance.

Tailored Insurance For Clients Leading A Healthier Lifestyle-

Term life insurance companies are increasingly offering tailored insurance for their healthier clients. Insurance companies globally are offering lower premium rates that reward the client’s healthy lifestyle. These companies are also encouraging policyholders to lead a healthy lifestyle. The willing clients are being rewarded with reduced premiums or certain loyalty benefit programs. For example, Vitality, a UK based insurance company, which offers its clients rewards if they exercise regularly and eat healthy. These clients are also offered discounts on activity trackers and free delivery of healthy food from their partner companies. Other companies such as Max New York Life Insurance offers up to 36% of reduction of premium for their healthy, non-smoking policyholders.

The market is segmented:

By Type Of Insurance-

a) Individual Level Term Life Insurance

b) Group Level Term Life Insurance

c) Decreasing Term Life Insurance

By Type Of Distribution Channel –

a) Tied Agents And Branches

b) Brokers

c) Bancassurance

d) Direct And Other Channels

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2021 Impact Of Covid-19 On The Cards And Payments Market Growth And Trends

The Cards And Payments Global Market Report 2020-30 by The Business Research Company describes and explains the global cards and payments market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Cards And Payments Global Market Opportunities And Strategies Report covers cards and payments market drivers, cards and payments market trends, cards and payments market segments, cards and payments market growth rate, cards and payments market major players, and cards and payments market size.

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https://www.thebusinessresearchcompany.com/report/cards-and-payments-market

The cards and payments market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.

Cards And Payments Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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Trends in the market include:

Adoption Of EMV Technology-

The global payments industry has witnessed rapid increase in the adoption of EMV technology. This growth is driven by a higher level of data security offered by EMV chip and PIN cards as compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards including debit, credit, charge and prepaid cards. The chip carries data of the cardholder and the account, which is protected using both hardware and software security measures. According to global technical body EMVCo, the number of EMV chip payment cards across the world reached 4.8 billion by the end of 2015. In line with the rest of the world, the adoption rate of EMV chip payment cards has steadily grown across various regions in world, reaching 71.7% in Canada, Latin America and the Caribbean region, 61.2% in Africa and the Middle East region, and 32.7% in Asia-Pacific region.

The market is segmented:

1) By Type: Cards, Payments

2) By Institution Type: Banking Institutions, Non-Banking Institutions

Subsegments Covered: Credit Card, Debit Card, Charge Card, Prepaid Card, B2B, B2C, C2C, C2B

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2021 Blood Glucose Test Strips Market Share, Restraints, Segments And Regions

The Blood Glucose Test Strips Global Market Report 2020-30 by The Business Research Company describes and explains the global blood glucose test strips market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Blood Glucose Test Strips Global Market Opportunities And Strategies Report covers blood glucose test strips market drivers, blood glucose test strips market trends, blood glucose test strips market segments, blood glucose test strips market growth rate, blood glucose test strips market major players, and blood glucose test strips market size.

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The blood glucose test strips market report focuses particularly on identifying the trends, opportunities, and strategies that can lead to success. O&S reports are available off the shelf and can be delivered to clients on the day of purchase.

Blood Glucose Test Strips Global Market Opportunities And Strategies Report is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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Trends in the market include:

Generic Blood Glucose Test Strips-

Blood glucose test strip manufacturers are increasingly offering generic blood glucose test strips as a low-cost alternative to test strips of major brands. Generic blood glucose test strips are third-party strips that work with a variety of blood glucose meters and are much less expensive than their counterparts. They have been proven to perform similar to or even exceed the FDA accuracy standards for blood glucose test strips. For example, Pharma Tech Solutions, a California-based company distributes Shasta GenStrip, a more affordable alternative that can be used with One Touch and Ultra brand meters. Other generic strip brands in the market include Unistrip , GenUltimate , Equate and Relion.

Silk Strips – A Low Cost Alternative-

There has been a growing popularity of test strips made from Indian silk in the blood glucose test strips market. Indian silk has wound healing properties and when combined with polypropylene creates a product with strong antibacterial properties. Clinical trials have shown that silk strips are just as accurate as paper or plastic strips. Silk strips are cost-effective and are easier to manufacture. They cost about one-quarter or one-third of the price of paper or plastic strips. Paper or plastic strips require high-priced machinery to embed electrodes, whereas silk strips cut out the mechanical needs by way of weaving electrodes with silk yarn. For instance, in 2015, Achira Labs, a Bangalore-based company, has come up with a way to weave diabetic strips from silk. Technological advancements in blood glucose monitoring devices are expected to further boost the demand for test strips made from Indian silk.

The market is segmented:

By Technology-

a) Glucose Dehydrogenase

b) Glucose Oxidase

By Electrode Material Used -

a) Thick Film Electrochemical Strips

b) Thin Film Electrochemical Strips

c) Optical Strips

By End Use -

a) Homecare

b) Diagnostic Centers

c) Hospitals

By Expenditure -

a) Public

b) Private

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Thursday 27 May 2021

Wireless Earphones Market Size, Growth, Opportunity and Forecast to 2030

The Wireless Earphones Global Market Report 2020-30 by The Business Research Company describes and explains the global wireless earphones market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Wireless Earphones Global Market Report 2021 covers wireless earphones market drivers, wireless earphones market trends, wireless earphones market segments, wireless earphones market growth rate, wireless earphones market major players, and wireless earphones market size.

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The wireless earphones market report provides an in-depth analysis of the impact of COVID-19 on the global wireless earphones industry, along with revised market numbers due to the effects of the coronavirus and the expected wireless earphones market growth numbers 2021-2030.

Wireless Earphones Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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The global wireless earphones market is expected to grow from $4.56 billion in 2020 to $4.65 billion in 2021 at a compound annual growth rate (CAGR) of 2.01%. The slow growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The wireless earphones market is expected to reach $5.69 billion in 2025 at a CAGR of 5.2%.

The report covers the wireless earphones market segments-
1) By Product Type: In-ear, Neckband, TWS (True Wireless Stereo), Others

2) By Connectivity: Wi-Fi, Bluetooth

3) By Application: Music and Entertainment, Sports and Fitness, Gaming and Virtual Reality

4) By Distribution Channel: Hypermarkets/ Supermarkets, Multi Branded Stores, Exclusive Stores, Online Channels.

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Online Tutoring Market Size, Demand, Growth, Analysis and Forecast to 2030

The Online Tutoring Global Market Report 2020-30 by The Business Research Company describes and explains the global online tutoring market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Online Tutoring Global Market Report 2021 covers online tutoring market drivers, online tutoring market trends, online tutoring market segments, online tutoring market growth rate, online tutoring market major players, and online tutoring market size.

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The online tutoring market report provides an in-depth analysis of the impact of COVID-19 on the global online tutoring industry, along with revised market numbers due to the effects of the coronavirus and the expected online tutoring market growth numbers 2021-2030.

Online Tutoring Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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The global online tutoring market is expected to grow from $1.44 billion in 2020 to $1.63 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The online tutoring market is expected to reach $2.9 billion in 2025 at a CAGR of 15%.

The report covers the online tutoring market segments-
1) By Type: STEM Courses, Language Courses, Other Courses

2) By Application: K-12, College Students, In-Service Education, Others

3) By Sales Channel Type: Private Coaching, International Organizations And Associations, Educational Institutes, Others

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2021 Blockchain AI Market Share, Restraints, Segments And Regions

The Blockchain AI Global Market Report 2020-30 by The Business Research Company describes and explains the global blockchain AI market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The Blockchain AI Global Market Report 2021 covers blockchain AI market drivers, blockchain AI market trends, blockchain AI market segments, blockchain AI market growth rate, blockchain AI market major players, and blockchain AI market size.

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The blockchain AI market report provides an in-depth analysis of the impact of COVID-19 on the global blockchain AI industry, along with revised market numbers due to the effects of the coronavirus and the expected blockchain AI market growth numbers 2021-2030.

Blockchain AI Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

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The global blockchain artificial intelligence market is expected to grow from $232.09 million in 2020 to $297.62 million in 2021 at a compound annual growth rate (CAGR) of 28.23%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $748.8 million in 2025 at a CAGR of 25.93%.

The report covers the blockchain AI market segments-
1) By Technology: Computer Vision, Machine Learning (ML), Natural Language Processing (NLP), Others

2) By Vertical: BFSI, Telecom & IT, Healthcare And Life Science, Manufacturing, Media & Environment, Automotive, Others

3) By Application: Smart Contract, Payment, Data Security, Logistics And Supply Chain Management, Business Process Optimization, Others

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