Introduction of Deal Tracker as a Service DTaaS
DTaaS is a comprehensive solution enabling real-time monitoring of trade activities, data archiving for easy querying and compliance, and tracker of net positions. The use of cloud deployment with DTaaS eliminates the requirement for local software deployment and data storage costs, offering a fully managed service. It provides huge information on mergers and acquisitions, venture finance, private equity, private placement transactions, initial public offerings and others.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the deal tracker as a service (DTaaS) industry.
For instance, expandable asset tracker devices were introduced by PCT on the Geotab Marketplace. Through this, Geotab offers a vast ecosystem of business-focused, beneficial applications and add-ons, helping companies with the resources that they require for more effective management of their fleets. Further, Philips Connect Technologies has been included in the Geotab Marketplace in order to help customers access a number of solutions that can assist them in making the most of their time by improving asset visibility and utilization.
(Source:www.geotab.com/blog/geotab-marketplace/)
What are the Key Drivers Affecting the Deal Tracker as a Service (DTaaS) Market?
- Growing Adoption of DTaaS for Monitoring Trade Activities to Provide Viable Market Output
DTaaS eliminates physical infrastructure and permits rapid application development at a lower price. The solutions provide advantages like instant stability, performance guarantees, declining pricing, failover support and specialized expertise. It increases the requirement for local in-house infrastructure and management overheads so that the companies concentrate on their core business. The growing utilization of DTaaS for monitoring trade activities in real-time is boosting the growth of the market.
Private companies like Uber, Roam and Lyft that provide ride-sharing and car services have increased rapidly over the past few years, and location data for tracking is a useful resource for these companies.
Investment wealth management, drive performance, minimized enterprise risks and combat financial crime with deal tracker as a service. The tracker as a service enhances operational efficiency minimizes IT management overheads, and eliminates the requirement for on-premise hardware, allowing firms to emphasize key business activities.
The Factors Restraining the Growth of the Deal Tracker as a Service (DTaaS) Market
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High Cost and Implementation Limitations to Hinder Market Growth
The limitations of high costs and implementation of services impact the growth of deal tracker as a service market. Several industries utilize conventional system designs, necessitating a high degree of system customization for executing these solutions. Many businesses choose not to employ the DTaaS solutions as its update requires a significant increase in capital costs. The installation of these solutions leads to increased expenditure of capital, disrupted workflow and a complexity increase in manufacturing operations, hindering the growth of the market.
Impact Of COVID-19 on the Deal Tracker as a Service (DTaaS) Market
Covid-19 has impacted the deal tracker as a service market globally, including all of its sectors. With the closure of business, halt in IT operations, and other factors, the dual effects of the pandemic reverberated throughout the segments of deal trackers as a service market. On the contrary, the pandemic increased consumer awareness, increased the utilization of digital technologies and businesses placed a higher value on solutions that enhanced operational efficiency and lower overhead costs. This has eventually enhanced the performance of deal tracker as a service market globally.
Competitive Landscape of Deal Tracker As A Service (Dtaas) Market
The market for deal tracker as a service has a very active and diverse competitive environment. It comprises various tracking service providers, from significant corporations to smaller specialized organizations. Due to globalization and technological development and higher demand for safe and improved security without the breach of data, there is fierce competition among businesses to provide cutting-edge solutions, professional tracking solutions, interpreting, and providing real-time service.
July 2022: The vehicle location tracking system of the state transport department was introduced by the chief minister of Himachal Pradesh, India. It has car position tracking gadgets and a panic button system. When panic button is hit, a signal is sent to 112 through satellite, alerting the police.
(Source:himachalpr.gov.in/OnePressRelease.aspx?Language=1&ID=26189)
March 2022: Housecall Pro and Mojio partnered in order to create Force by Mojio, the first fleet management solution designed for SMEs. It makes it simpler for home service professionals to track their company vehicles, improve operations and enhance the experience of clients.
(Source:forcebymojio.com/integrations/housecallpro/)
Top Companies Market Share in Deal Tracker as a Service DTaaS Industry: (In no particular order of Rank)
- IBM Corporation
- Microsoft
- ANSYS Inc
- Oracle
- SAP SE
- Atos S.E
- KELLTON TECH
- DXC Technology Company
- Hexaware Technologies Limited
- Infosys Limited
- Amazon Web Service Inc
- Zebra Technologies Corp
- Stanley Black & Decker Inc
- Lenevo PCCW Solutions Limited
- Datalogic ApA
- Dell Inc
- TIBCO Software Inc
- HP Development Company LP
- Trimble Inc
- Midmark
- Infor
Deal Tracker as a Service DTaaS Market Analysis
By Type, the Cloud Segment Dominating the Deal Tracker as a Service (DTaaS) Market
According to Cognitive Market Research, the cloud-based category of the deal tracker as a service dominates the global market revenue share of the market and is foreseen to remain the same throughout the forecast period. The growing privacy issues in different industries prevent businesses from adopting the solution. The fraudsters can even disrupt the tracker software leading to a security breach. Hence the cloud-based deal tracker as a service is in demand for protecting the system.
Furthermore, in the DTaaS market, the "on-premise category" designates a particular deployment option in which the software is installed and hosted on the client's own infrastructure as opposed to being hosted by the service provider in the cloud.
- Cloud-Based
- On-Premises
By Application, the Retail & Manufacturing Segment Dominating the Deal Tracker as a Service (DTaaS) Market
The retail and manufacturing category dominates the segment of application and is anticipated to be at the top throughout the forecast period. The implication of deal tracker as a service in retail and manufacturing helps in saving time and enhances efficiency with the help of real-time data, thus, uplifting the retail and manufacturing segment to growth.
According to Cognitive Market Research, transportation and logistic is the fastest growing segment as this tracker solution helps them to enhance vehicle maintenance, extending the lifespan of the vehicles and, therefore, assisting in avoiding delays that may be caused due to vehicle breakdown. Further, the increased adoption of IoT by trucking and logistics companies in order to track the packages and ensure the deliveries are on time and it also saves fuel and implements predictive maintenance plans for their vehicles with the use of tracker devices.
- BFSI
- Retail & Manufacturing
- Consumer Goods
- Government and Defense
- Automotive
- Transportation & Logistics
- Energy and Utilities
- Others
The North American Deal Tracker as a Service (DTaaS) market hold the Largest Share of the Global market
According to Cognitive Market Research, North America dominated the market in the year 2022 and accounted for largest share of global revenue due to several variables. The North American region dominates the market for deal tracker as a service due to the growing automation advancement in technology, mainly in the logistics and transportation industries region. The utilization of delivery or warehouse robots is growing at a rapid pace; hence, people are opting to employ these services. There is also a rise in the criminal offender monitoring market in the region.
The United States Deal Tracker as a Service (DTaaS) Expected to Grow at the Fastest Growth Rate During the Forecast Period
According to Cognitive Market Research, due to its significant economic size, and vast global corporate presence, the United States is anticipated to hold a strong position in the North American area. The majority of areas in the United States have compelled the utilization of offender tracker equipment for sexual offenders. The market will continue to boost in the country as the regulatory bodies are encouraging the installation of GPS tracker devices in vehicles.
The Reasons for Deal Tracker as a Service (DTaaS) to Witness the Fastest Growth in the Asia Pacific Region in the Coming Years
The Asia Pacific region is developing rapidly, and therefore, there is an increase in the number of manufacturing and transportation activities. This eventually increases the demand for safety and proper delivery of the products on time to the customers. Thus, the market players are utilizing the deal tracker as a service in order to utilize real-time data and insights to resolve the issues with product sustainability, regulatory compliances, product efficiency and risks. The service is being adopted by several industries in this region in order to fulfill the requirement of clients on time without any security breach.
