PCT Market, Key News, Size, Industry Share and Regional Forecast to 2027
The global PCT Market 2020 is increasing, and the crucial factors to it are surging demand for smart devices supported by the plummeting cost of data communication, a gradual shift towards 5G technology, and the use of artificial intelligence. An increase in the number of market players and massive investments are bolstering the growth prospects in the forecast period. The global PCT Market 2020 will remain stead strong, owing to the increasing customer demand for electronic devices and internet-of-things.
The increasing machine to machine communication is another important factor that drives the global PCT Market. Pervasive computing technology involves the communication of several smart devices with each other without human interference seamlessly through a communication channel assisted by internet connectivity. Several technologies that contribute to pervasive computing are wireless communication, networking, security, information access, voice recognition, artificial intelligence, etc.
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The global, PCT Market has been segmented on the basis of application, components, technology, and region.
On the basis of application, the global PCT Market can be divided into gesture recognition, information access, mobility & networking, multimedia document retrieval, security, speech recognition, text retrieval, and privacy & management.
On the basis of components, the global PCT Market can be divided into hardware, software, and solutions. Hardware has been sub-segmented into Bluetooth handsfree, cameras, communication devices, sensors & actuators, servers, smartphones, smart wearable devices (watch cameras & watch phones), softphone, and the webserver.
On the basis of technology, the global PCT Market can be divided into 3G, 4G, WiFi, and Wireless Local Area Networks (WLANs).
On the basis of region, the global PCT Market can be classified into Europe, North America, Asia Pacific, and the Rest of the World (RoW).
The geographical analysis of North America, Asia Pacific, Europe, and the Rest of the world (RoW) has been performed. As per the analysis, the North American market acquires the largest market share and is estimated to grow at the fastest pace in the forecast period due to the surging use of smartphones among people, the presence of several key market players, and technological upgradation. USA, Canada, and Mexico are the most important country-specific markets in this region.
Apart from North America, Europe is another key market that is estimated to burgeon during the forecast period. The presence of many key players and technological upgradation that is second only to North America is contributing to the expansion in the region. Germany and UK are the vital country-specific markets, followed by the Rest of the European countries.
The Asia Pacific region consists of the fastest-growing nations like India, Japan, and China. These regions are likely to expand at the highest rates in the forecast period. The expansion of the market is due to the advancements in the consumer electronics industry. Other Asia Pacific countries are likely to follow the same trend.
In the Rest of the world (RoW) region, Latin America and Middle East & Africa (MEA) are estimated to grow steadily pertaining to technological advancements and slowly increasing the usage of cloud services.
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The forefront players of the global PCT Market are International Business Machines Corporation (USA), Microsoft Corporation (USA), Hewlett-Packard Company (USA), SAP SE (USA), Oracle Corporation (USA), AT&T Inc. (USA), Cloudera (USA), E-Tron Co. Ltd (South Korea), Fujitsu Ltd. (Japan), Tata Consultancy Services Limited (India) and others.
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