Physical-digital integration refers to the integration of physical and digital technologies in order to improve or enhance various aspects of daily life. This can include things like using smartphones to control smart home devices, using augmented reality to enhance shopping experiences, or using IoT sensors to monitor and collect data on physical environments. The goal of physical-digital integration is to make technology more seamless and intuitive to use, and to create new opportunities for businesses and individuals to connect and interact in new ways.
A strong CAGR of 13.5% is anticipated for the global physical-digital integration market during the forecast period. In 2022, the market is expected to be worth US$4,342 Million. By the year 2032, it is predicted that the physical-digital integration market would have grown to a high of US$ 15,429 Million.
The specialists at Future Market Insights have calculated a historical CAGR of 12.3% for the relevant market. Due to the continued rapid change in the population’s style of interaction over the past few years, the demand for physical-digital integration is increasing. Customers have indicated a preference for digital contact over traditional communication.
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Competitive Landscape
Some of the key companies in the market are:
- Cognizant Technology Solutions Corp.
- IBM Corporation
- Infor Global Solutions, Inc.
- Infosys Ltd.,
- Oracle Corporation, Salesforce.com, Inc.
- SAP SE
- Toshiba Corporation
Biggies Revolutionizing the Market
The physical-digital integration market is thriving due to the increasing demand for solutions that deliver refined interactive customer experiences. The demand for these solutions gained momentum in recent years and is expected to expand exponentially over the forecast period. Physical-digital integration has been witnessing demand in numerous end-use industries, including retail, residential, industrial, healthcare, and defence and security, among others.
In the healthcare system, the emphasis is being laid upon the interconnection of virtual and physical space to offer new health solutions around remote care, well-being, smart homes and communities., thereby accelerating the demand for physical-digital integration in the respective sector.
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Physical-Digital Integration Market: Key Trends
Integration of physical world with the digital, with the introduction of internet of things (IoT) is the key trend governing the growth of physical-digital integration’s market.
Who are Some of the Key Competitors in the Physical-Digital Integration Market?
Some of the key players in the physical-digital integration market are Cognizant Technology Solutions Corp., IBM Corporation, Infor Global Solutions, Inc., Infosys Ltd., Oracle Corporation, Salesforce.com, Inc., SAP SE and Toshiba Corporation.
These all along with the manufacturing industries play a key role in the physical-digital integration market growth during the forecast period. They execute several plans and methodologies to bring the prime factor to influence demand for physical-digital integration. Some of the tactics are mergers, acquisitions, product launches, and partnerships among others. They are the focal point of these players as they bring new innovative ideas to lead the market.
Physical-Digital Integration Market: Drivers and Challenges
The primary driver for Physical-Digital Integration market is the increased affinity towards digitalization with an increasing adoption of smart phones and tablets. Physical-digital integration’s market is further driven by the introduction of technologies such as IoT, AR & VR, automation etc.
Factors such as easy implementation, enhanced customer experience, fast processing and increased accuracy have led to the transition towards digitalization resulting into physical-digital integration. Applications of physical-digital integration in various industries, furthermore, drives the growth of its market.
Factors such as data breaches, complexity and difficulties in the management of back-end activities are restraining the growth of physical-digital integration market.
Key Segments In The Physical-Digital Integration Market
By Industry:
- Retail
- Residential
- Industrial
- Healthcare
- Defense and Security
- Media and Entertainment
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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