According to an IBIS World report, the payroll and book-keeping services market in the US is estimated to have grown 7.8% annually over the five year period from 2011 through 2016. The researcher estimates the market to be worth $81 billion this year. While ADP is the largest player in the industry with more than 10% of market share, other smaller players are also making their presence felt.
According to a MarketsandMarkets report, the global cyber security market is projected to grow 10% annually to be worth $170.21 billion in 2020. North America is expected to be the largest market on the basis of spending and adoption of cyber security solutions and services. But, the smaller Latin American and Asia-Pacific regions will witness rapid expansion.
According to a World Bank report, the global remittance market is expected to grow 3.75% annually over the period 2015 through 2017. Another report from LTP estimates that the US is the leader in the global remittance market with a 22% market share of the global remittance volume. The remittance market is dominated by three key players – Western Union, MoneyGram, and Ria. But these established players are facing increasing competition from startups that are able to offer lower fee structures and innovative technologies to provide online and mobile money transfer capabilities. One such new player is UK-based TransferWise, which recently joined the Billion Dollar Unicorn Club.
According to IBISWorld, the global market for cars and automobiles is expected to grow 2.5% to $9 trillion. Over 65 million new and used vehicles are expected to be sold in 2016 through dealerships, commission agents, and car auctions. AUTO1 Group has gained entry to the Billion Dollar Unicorn Club by targeting this fragmented market. >>>
According to a Deloitte report, healthcare expenditure in China was about $511.3 billion or 5.4% of its GDP in 2013 and it was projected to grow at 11.8% to reach $892 billion by 2018. However, the quality of service remains dismal. China has 1.8 physicians and 1.7 nurses per 1000 people compared to the US average of 2.4 physicians and 10.8 nurses per 1000 people. GuaHao has gained entry to the Billion Dollar Unicorn Club by addressing this gap. >>>
According to the Department of Energy, the fuel-cell industry grew to $2.2 billion in 2014, up from $1.3 billion in 2013. The $2 trillion a year electric power industry is poised to grow 80% by 2040 while fuel cell market estimates range from $5.2 billion in 2019 to $40 billion in 2022. Bloom Energy is estimated to account for 40% of the large stationary fuel cell market. >>>
According to Newzoo, global gaming industry revenues were estimated to grow 9.4% to $91.5 billion in 2015. The industry is expected to be worth $107 billion in 2017 driven by gaming on tablets and smartphones. Little wonder then that gaming accessory and platform developer Razer is a member of the Billion Dollar Unicorn club.
According to a MarketsandMarkets report, the hybrid cloud market is expected to reach $85 billion in 2019, up from $25 billion in 2014. That translates to a CAGR of 27%, which outpaces the growth of the overall IT market. Hybrid cloud is a strong focus area for HP Enterprise (NYSE: HPE) after the recent split. HPQ, on the other hand, is continuing to struggle after the split. >>>
According to the US Department of Health & Human Services, about 10.2 million people are covered through the Health Insurance Marketplace under the Affordable Care Act. The Affordable Care Act has led to the mushrooming of several startups using technology in sectors related to healthcare. Oscar is one such startup that has made it to the Billion Dollar Unicorn Club. >>>
According to a Zinnov research report, India’s mobile commerce market is estimated to grow to $19 billion by the year 2019 from $2 billion in 2015. The growth is being driven by smartphone sales supported by a wave of low-cost handsets. Cisco’s reports estimate that the number of smartphone users in India will grow nearly five times to 651 million by 2019 compared with 140 million by the end of 2014. Billion Dollar Unicorn club member One97 Communications is counting on this rapid explosion to sustain its valuation.