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Multichannel Order Management Market share

(EMAILWIRE.COM, November 05, 2022 ) Multichannel Order Management Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period, to reach USD 4.2 billion by 2027 from USD 2.7 billion in 2022. A multichannel order management system unifies all the various sales channels the business employs to market its products, both online and offline. Regardless of the origin or type of the order, the multichannel order management solutions offers a single picture of all the orders. It enables the sales team to improve their customer service by ensuring that all order statuses are precise and readily available.

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281 Pages

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As per verticals, transportation & logistic to grow at the highest CAGR during the forecast period

The multichannel order management market is segmented on verticals into retail, e-commerce and wholesale, manufacturing, and transportation & logistic. Businesses produce a large amount of data and are unable to expand without an order management system. Customers also need quick, affordable, and customized order fulfilment. Multichannel logistics is a supply chain for e-commerce that is flexible and expandable. The use of multichannel order management software not only facilitates order management but also supports real-time inventory accuracy across all websites, marketplaces, and brick-and-mortar businesses. It makes it easier for the company to carry on with business as usual in the event of any unplanned supply chain delays, which reduces risks. As per verticals, the transportation & logistic is expected to grow at the highest CAGR 10.6% during the forecast period. The transportation & logistics segment is anticipated to account for the highest CAGR in the Asia Pacific region by growing from USD 85 million in 2022 to USD 160 million in 2027 at the CAGR of 13.5% during the forecast period.

Cloud Segment to grow at the highest CAGR during the forecast period

The multichannel order management market by deployment mode is segmented into cloud and on-premises. Cloud-based multichannel order management software provides a wide choice of flexible and affordable software and services for precise, real-time delivery from worldwide inventory channels. As per deployment mode, cloud Segment is to grow at the highest CAGR of 8.2% for the multichannel order management market during the forecast period.

Large Enterprise to register the largest market size during the forecast period

The large enterprises is expected to register the largest market size during the forecast period. In comparison to SMEs, large enterprises employ multichannel order solutions and services more frequently. This is due to the affordability, high IT spending, and high economies of scale that drive the ease of adopting new technologies, products, services, and solutions in large enterprises. The use of multichannel order management software by large enterprises enables businesses to automate, streamline, and reduce costs as much as possible in the fulfilment process.

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North America is anticipated to register the largest market size during the forecast period

Due to their expanding applicability across key industry verticals, multichannel order management solutions continue to fuel business revenue growth for businesses in North America. Various small and medium-sized businesses are investing heavily to make use of their enormous and rapidly growing data and information resources. Retailers growing emphasis on boosting customer satisfaction will likely increase investments in the sector and fuel the growth of market in this region. The vendors in this region have been at the forefront of creating cloud-based strategies and solutions, which making it easier for businesses across all industry verticals to acquire and use order management software and services without difficulty. Among the regions, North America is anticipated to register the largest market size during the forecast period.

Some of the major multichannel order management market vendors are IBM (US), Oracle (US), SAP (Germany), Salesforce (US), HCL Technologies (India), Zoho (India), Brightpearl (US), Square (US), Selro (England), Linnworks (England), Vinculum (India), Freestyle Solutions (US), Aptean (US), Etail Solutions (US), SellerActive (US), Delhivery (India), Cloud Commerce Pro (England), QuickBooks Commerce (India), Unicommerce (India), SalesWarp (US), Contalog (India), Browntape (India), Appian(US).

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Data-centric Security Market trends

(EMAILWIRE.COM, November 15, 2022 ) Global Data-centric Security Market size is projected to grow from an estimated value of USD 4.2 billion in 2022 to USD 12.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.9% from 2022 to 2027. The need to secure most sensitive information (credit card numbers, intellectual property, or medical records), stringent compliances and regulations; the need to secure sensitive data on cloud, and growing data breach incidents is driving the growth of data-centric security market across the globe.

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The major Players in data-centric security market are Informatica (US), IBM (US), Broadcom (US), Micro Focus (US), Varonis Systems (US), Talend (US), Orange Cyberdefense (France), Forcepoint (US), Imperva (US), NetApp (US), Infogix (US), PKWARE (US), Seclore (US), Fasoo (South Korea), Protegrity (US), Egnyte (US), Netwrix (US), Digital Guardian (US), HelpSystems (US), BigID (US), Securiti (US), SecuPi (US), Concentric.AI (US), Lepide (US), NextLabs (US), SealPath (Spain), Nucleus Cyber (US), and Dathena (Singapore).

By component, the services segment to register the highest growth rate during the forecast period

Based on component, data-centric security services have witnessed a growing demand in recent years. The services segment includes various services that are required to deploy, execute, and maintain data-centric security platforms in organizations. Enterprises need support from service providers to enhance their data management, policy control, auditing & reporting, data protection, and for maintaining the governance over various silos. Professional service providers help enterprises in deploying data centric security software and solutions and managing all the queries in the product life cycle.

The professional services are offered through professionals, specialists, or experts to support the business. These services include consulting, designing and development and implementation, and support services. The latest techniques, strategies, and skills adopted by the professionals are said to be helping organizations in adopting data centric security features. They also offer customized implementation and risk assessment and assist with the deployment via industry-defined best practices.

With the increasing demand for data-centric security solutions in high-growth markets such as APAC and MEA, there is a significant demand for training and education services to spread awareness about various data-centric security solutions.

Based on organization size, the SMEs segment to grow at the highest CAGR during the forecast period

By organization size, the data centric security market is sub-segmented into large enterprises and SMEs. SMEs use data centric security solutions to reduce data fraud while enhancing the customer experience. The growing usage of mobile devices has influenced the data transfer over business networks to personal devices, such as mobile phones and laptops. Hence, this helps in increasing the fraudulent data, cyberattacks, data losses, and threat of personal data thefts. These rising security issues have made way for SMEs to focus their concerns on data centric security. Although, SMEs have to consider their limited budget, the comprehension of corporate information being an important consideration, makes them use data discovery and classification, data protection, and data governance solutions. Moreover, these solutions are available at economical pricing in the cloud deployment type. In the coming years, data centric security solutions are expected to witness high adoption among SMEs, all over the region.

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North America to hold the largest market share in 2022

North America is estimated to account for the highest market share in the data-centric security market in 2022. The region comprises some of the key vendors that offer data-centric security solutions and services; some of them are Informatica, IBM, Broadcom, Micro Focus, Varonis Systems, Forcepoint, among others. By country, the US is expected to hold the largest market share owing to the growing data breach incidents. Implementing these technologies enables large amounts of data to be operated upon, which has resulted in widespread adoption of cloud-based solutions and investments in the data-centric security market. North America is a highly regulated region in the world with numerous regulations and compliances, such as the Federal Energy Regulatory Commission (FERC), HIPAA, PCI DSS, and SOX, across verticals. All these factors contribute to the high market share.

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(EMAILWIRE.COM, November 22, 2022 ) The report "Iris Recognition Market by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical and Region - Global Forecast to 2027" The iris recognition market is projected to grow from USD 3.7 billion in 2022 to USD 8.4 billion by 2027, registering a CAGR of 15.4% during the forecast period. The market growth is attributed to the increased use of iris recognition technology in the travel & immigration industry and the high demand for iris recognition from offices and commercial sectors. Furthermore, the rising adoption of iris recognition in the banking & finance industry to avoid fraudulent activities is expected to create lucrative opportunities for the market.

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Identity management & access control application accounted for larger share of iris recognition market in 2022.

Identity management & access control application accounted for a larger share of the iris recognition market in 2022 and is expected to remain dominant throughout the forecast period. Iris recognition solutions are used in various verticals for identity management and access control applications. For example, in the banking & finance vertical, iris recognition systems are used by customers to access their bank accounts and employees to log in to their workstations. In the travel & immigration vertical, iris recognition systems prevent illegal immigrants from entering the country using fraudulent travel documents. In many airport terminals, these biometric systems are deployed to enhance the convenience, speed, and efficiency of border-crossing formalities for legitimate travelers. Many government organizations use iris recognition technology for identification and authentication purposes.

Software component to lead iris recognition market during the forecast period.

The software component is expected to hold higher opportunities than the hardware component between 2022 and 2027. The software component has been sub-segmented into iris recognition software & SDK, database, and analytics solution, among others. At present, iris recognition software & SDK account for a larger market share than hardware components, and a similar trend is likely to continue in the near future. Furthermore, the presence of various major players who offer this software, such as Iris Access, EyeLock LLC, Neurotechnology, and others, further drives the market growth.

Asia Pacific market to offer significant opportunities during the forecast period.

Asia Pacific is the leading market for iris recognition in the consumer electronics vertical, with major demand from China, India, and Japan. The region held the largest share of the iris recognition industry in 2021. China and India are key countries contributing to the market growth in Asia Pacific. North America expected to account for the second-largest share of the iris recognition market throughout the forecast period. The US and Canada are significant demand-generating countries for iris recognition devices in this region.

Key players

Key players in the iris recognition market include Thales (France), IDEMIA (France), HID Global Corporation (US), Iris ID, Inc. (US), IriTech, Inc. (US), IrisGuard Ltd. (UK), EyeLock LLC (US), NEC Corporation (Japan), Princeton Identity (US), and CMITech Company, Ltd. (Korea), among others.

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Application Security Market trends

(EMAILWIRE.COM, November 30, 2022 ) The global Application Security Market size is projected to grow from USD 6.2 billion to USD 13.2 billion at a CAGR of 16.1% during the forecast period. Rise in security breaches targeting business applications, an increase in the usage of mobile and cloud-based technologies, and favorable government regulations are some of the key factors driving market growth.

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Technological advancements, penetration of digital technologies, and Bring Your Own Device (BYOD) trend in organizations have greatly influenced work practices and led to an unprecedented rise in data volumes. These factors have led to the adoption of automatic software-based applications for analyzing data in real time, which have replaced the traditional data mining applications and tools. This, in turn, increases the need to update legacy manual software testing methods. Hence, application security vendors are coming up with new varieties of software tools to detect and prevent all types of errors and vulnerabilities in an application during the SDLC process.

By type, mobile application security segment to grow at a higher CAGR during the forecast period

Mobile application security ensures the confidentiality of the data transferred among mobile applications while ensuring transparency and visibility among business processes. This involves examining the structure of mobile applications and studying how they exchange data in a cohesive manner, as well as identifying the key patches, which can be easily exploited by hackers for financial gains. This enables the IT security team to identify critical application risks and rapidly secure mobile applications from potential threats through various testing capabilities, such as SAST, DAST, RASP, and IAST.

In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period

Cloud deployment is the fastest-growing deployment model in the application security market. SMEs, in particular, have implemented cloud deployment as it enables them to focus on their core competencies, instead of spending their capital on security infrastructure. By using cloud-based security solutions, organizations can avoid costs pertaining to hardware, software, storage, and technical staff. As web and mobile applications are the primary target for attackers, securing these applications are of utmost importance. The cloud-based platform offers a centralized way to secure the web and mobile applications across the organization, throughout the application development life cycle.

North America to hold the largest market size during the forecast period

North America consists of developed countries, with the presence of strong economies, such as the US and Canada, which are technologically advanced with well-developed infrastructures. With the increase in the use of the latest technologies, such as AI and ML, application security is getting advanced with each passing day and the growing economies of North America make it easier for enterprises to invest into these new technologies in huge amounts. The presence of key application security market players in this region is a major factor responsible for the growth. Some of the major players in this region are IBM, WhiteHat Security, and Veracode. In addition to these major vendors, the region also has a significant presence of other vendors, such as Checkmarx, Rapid7, and Trustwave, which makes this region highly competitive.

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Major vendors in the global application security market include IBM Corporation (US), HCL Software (India), Cisco Systems (US), Synopsys (US), Checkmarx (Israel), Veracode (US), MicroFocus (UK), WhiteHat Security (US), Capgemini (France), Rapid7 (US), Onapsis (US), GitLab (US), CAST Software (France), Contrast Security (US), Qualys(US), VMware (US), OneSpan (US), Trustwave (US), Imperva (US), F5, Inc. (US), Acunetix (Malta), NowSecure (US), Pradeo (France), Lookout (US), Data Theorem (US), Zimperium (US), and Kryptowire (US).

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Cloud-native Application Protection Platform Market Trends

(EMAILWIRE.COM, January 11, 2023 ) The global Cloud-native Application Protection Platform (CNAPP) Market size is projected to grow from US$ 7.8 billion in 2022 to US$ 19.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.9 %. Increasing cyberattacks and the growing adoption of remote working trend by SMEs are some of the factors driving the market growth.

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By cloud type, public cloud segment to account for a larger market size during the forecast period

Public cloud includes a platform being managed by a third party. In the public cloud model, the cloud resources are operated by a third-party cloud service provider and operated over the internet. It uses the standard cloud computing model to make resources and services available to remote users worldwide. Public cloud services can be used for free or be provided through subscription or on-demand pricing schemes, including the pay-per-usage model. The main benefits of public cloud include a decreased requirement for organizations to invest in maintaining their on-premises IT resources; scalability to meet workload and user demands; and fewer wasted resources because customers pay with pay-per-usage model. The public cloud providers offer the infrastructure needed to host and deploy workloads in the cloud. Tools and services help customers manage cloud applications, including data storage, security, and monitoring and reporting capabilities. Some of the challenges with the public cloud include increasing, complex cloud costs and pricing models, skill gaps in the cloud computing industry, limited control, and vendor lock-in period.

By vertical, BFSI to hold the largest market size during the forecast period

Cloud technology is increasingly being used by banks and financial institutions to store data and applications. Cloud technology providers offer products and services that provide improved revenue generation, customer insights, and reduced costs. The deployment of cloud computing models provides control to financial institutions on how they pay for the technology deployed. Cloud deployment provides increased scalability, and organizations can respond more quickly to market shifts. The overall costs are reduced as the organizations do not need to pay for on-premises infrastructure costs. The COVID-19 outbreak has further accelerated data movement to the cloud environment. There is an increasing need for cybersecurity solutions and services in the BFSI vertical to fight against the growing number of physical and cyberattacks on critical infrastructures that are taking place due to the increasing adoption of BYOD and Work from Home (WFH) trends. Financial institutions need to be compliant with regulations such as the PIPEDA. This has led to the growing adoption of CNAPP and associated services. Financial institutes are always early adopters of advanced technologies. CNAPP is one of the essential security tools developed to secure deployed cloud resources and has significant applications in the BFSI vertical.

By region, North America to account for the largest market size during the forecast period

North America is expected to be the largest contributor to the global CNAPP market in terms of market share. It is one of the most advanced regions in regards to security technology adoption and infrastructure. The region has recently experienced increasing digitalization and cloud technology adoption. IT spending on system infrastructure is slowly shifting from traditional solutions to cloud. Organizations are rapidly using cloud services for new initiatives or to replace existing systems. The regional presence of key industry players offering CNAPP contributes to driving the market growth in North America. The increasing cyberattacks witnessed in the region contribute to the growth of the CNAPP market in the region. The strengthening of safety standards and regulations is another factor contributing to the growth of the CNAPP market in the region. The Cybersecurity and Infrastructure Security Agency (CISA) leads the national effort to understand, manage, and reduce cyber and physical infrastructure risks. It helps connect industry and government stakeholders with resources, analyses, and tools to help them build cyber, communications, physical security, and resilience. The Shields Up initiative by CISA recommends that if an organization is using cloud services, it should ensure that IT personnel have reviewed and implemented strong controls outlined in CISAs guidance.

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Key Players

The major vendors in the CNAPP market include Check Point (Israel), Trend Micro (Japan), Palo Alto Networks (US), CrowdStrike (US), Fortinet (US), Forcepoint (US), Proofpoint (US), Radware (Israel), Zscaler (US), Sophos (UK), Aqua Security (Israel), Cequence Security (US), Illumio (US), Runecast (UK), Data Theorem (US), MetaSecure (US), Tigera (US), Orca Security (US), Skyhigh Security (US), Caveonix (US), Wiz.io (US), Ermetic (US), Banyan Cloud (US), and AccuKnox (US).

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(EMAILWIRE.COM, March 02, 2023 ) The global AI in computer vision market is expected to be valued at USD 17.2 billion in 2023 and is projected to reach USD 45.7 billion by 2028; it is expected to grow at a CAGR of 21.5% from 2023 to 2028. Automatic extraction, analysis, and understanding of data from a single image or a sequence of images is known as artificial intelligence-based computer vision. In recent years, computer vision has evolved into one of the key technologies in industrial automation and is finding applications in almost all manufacturing industries. The AI in the computer vision market caters to automotive, consumer, healthcare, security & surveillance, and other industries. Major companies such as NVIDIA Corporation (US), Intel Corporation (US), IBM Corporation (US), and Microsoft (US) are highly investing in R&D to develop an AI-enabled computer vision portfolio.

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AI in the computer vision hardware market to account for the highest CAGR during the forecast period. There is increasing market competition among established companies and startups, leading to product launches and developments, including hardware development and software platforms to run machine learning algorithms and other AI programs. A few of the key companies that develop AI hardware are NVIDIA (US), Intel (US), Qualcomm (US), and Basler (Germany). The computer vision AI hardware market is expected to witness high growth during the forecast period. This is attributed to the growing penetration of AI-capable processors in mobile devices, such as smartphones, drones, automobiles, and consumer electronics devices. The increasing deployment of AI infrastructure is expected to play a key role in the growth of AI in the computer vision hardware market.

In terms of value, the non-industrial segment is projected to account for the largest share of AI in the computer vision market in 2028. Examples of AI in computer vision in non-industrial sectors include surveillance and security, media and entertainment, retail and e-commerce, transportation, and social media. These are just a few examples of how AI and computer vision are being used in non-industrial sectors to solve real-world problems. The use of this technology is expected to continue expanding as more and more sectors adopt it to improve efficiency, security, and customer experience.

AI in the computer vision market in North America accounted for the largest share in 2022. The US and Canada are expected to adopt AI-based computer vision solutions in different end-user industries at a high rate. These are developed economies that focus strongly on their R&D activities to develop new technologies. The governments of the US and Canada are boosting the development of AI research through various initiatives.

For instance, the National Artificial Intelligence Initiative Act was signed into law in March 2021, which aims to boost AI research and development in the US through funding and collaboration between government, industry, and academia. Additionally, in 2021, the National Institute of Standards and Technology (NIST) launched the NIST AI Program, which is focused on developing standards, guidelines, and tools to improve the reliability, security, and accuracy of AI systems. Such initiatives by the government is expected to boost the demand for AI in computer vision across the region.

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(EMAILWIRE.COM, March 22, 2023 ) The Access control market is valued at USD 9.9 billion in 2023 and is anticipated to USD 14.9 billion by 2028; growing at a CAGR of 8.4% from 2023 to 2028. The growth can be attributed to growing awareness concerning home security and the rising number of smart infrastructure projects.

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Access control market based on offering has been segmented into Hardware (card-based readers, biometric readers, multi-technology readers, electronic locks, controllers, others (RFID tags, door sets, keypads, servers)); software (visitor management systems, database, and software tools); and services (installation and integration, support and maintenance). The software offering held the highest growth opportunity of the access control market during the forecast period due to growing demand for management and analytics software and databases which would drive the demand for software in the access control market.

The access control market has been segmented on the basis of access control as a service has been fragmented into physic hosted, managed, and hybrid services. The market for managed ACaaS is anticipated to grow at highest CAGR during the forecast period as the key feature of managed services is that all operational processes can be controlled off-site by a team of highly skilled personnel.

The access control market based on vertical has been segmented into commercial (enterprises & data centers; banks & financial buildings; hotels, stadiums, and amusement parks; retail stores & malls); military and defense; government; residential; education, healthcare, manufacturing and industrial; and transportation. The commercial vertical segment accounted for the largest market share of the access control market. To protect commercial assets, property owners are buying security systems embedded with access control for remote monitoring.

North America dominated the access control market and is expected to maintain the position through the forecast period. The growth of the access control market in region can be attributed to the growing demand for cloud-based services, mobile access control technology, and management software by access control system users in the region.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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Critical Infrastructure Protection Market Forecast

(EMAILWIRE.COM, April 27, 2023 ) According to a research report "Critical Infrastructure Protection Market by Component, Security Type (Physical Safety & Security (Video Surveillance Systems, Screening, and Scanning) and Cybersecurity (Encryption, Threat Intelligence)), Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the global critical infrastructure protection market is projected to grow from an estimated USD 143.0 billion in 2023 to USD 162.5 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 3.3 % from 2023 to 2027. Rising cyberattacks organizations have faced in recent years are one of the factors driving the market growth.

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By solution, software to grow at a higher CAGR during the forecast period.

Since the last few years, cyber-attacks on critical infrastructure have been increasing. They are becoming sophisticated and complex, primarily targeted toward organizations in the energy, utilities, and other sectors, causing system shutdowns and disruptions in operations. CIP solutions use various software, including biometric authentication, to capture, verify, and record user identities and provide staff with permissible access to various enterprise resources. Introducing and integrating Artificial Intelligence (AI) and Machine Learning (ML) technologies help CIP software proactively detect and remediate suspicious activities and unauthorized and invasive access requests on enterprise networks. With the growing number of cyber-attacks and frauds such as identity theft, highly efficient software can quickly identify threat actors and notify the system. Therefore, the software is an essential part of the entire CIP process.

By cybersecurity segment, threat intelligence accounts for the largest market size during the forecast period

Threat intelligence collects and analyzes information about the existing and evolving threat vectors from multiple sources to provide actionable threat intelligence feeds and reports, which various security control solutions can effectively utilize. Such solutions keep critical infrastructure informed of the risk of APTs, zero-day attacks, and threats and help them protect themselves from the possibility of data breach occurrences. Threat intelligence includes sandboxing, wherein the suspected malicious sample is not executed in environments but is implemented in different cocoon environments and checked if it is malicious. It is mainly used to identify false positives. By setting the suspicious, malicious sample aside from other programs in separate environments, organizations ensure that errors or security issues would not spread to other system areas. This way, enterprises can save their systems from malware attacks and prevent them from crashing.

By region, North America accounts for the largest market size during the forecast period

The North American region consists of developed countries that are technologically advanced with well-developed infrastructures. The most robust economies in North America, the US, and Canada are the top contributing countries to the North American CIP market. North America is the most advanced and adaptable region in adopting security infrastructure and technological development. Public-Private Partnerships (PPPs) and international collaborations have led to adequate critical infrastructure security and resilience in the region. As per the Department of Homeland Security (DHS), the private sector owns 85% of the US critical infrastructures, such as oil and gas, banking and finance, transportation, utilities, electric power grids, and defense public sector regulates the rest. The National Infrastructure Protection Plan (NIPP) enables state, regional, federal, local, and international governments to work within and with their private partners for a networked community to maintain adequate risk management and security of the region's critical infrastructure. For example, the energy and power grid sector in the region requires public, private, and regulatory cooperation among DHS, the Department of Energy (DOE), and the Department of Defense (DOD) to protect their Operational Technology (OT) systems from cyber threats. International cooperation between Public Safety (PS) Canada and the US DHS has facilitated real-time collaborations for critical infrastructure cybersecurity issues. Therefore, it is necessary to regulate and monitor industrial infrastructures and perform risk assessments for analyzing potential vulnerabilities in the critical infrastructure system.

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Key Players

The major vendors in critical infrastructure protection include BAE Systems (US), Lockheed Martin (US), General Dynamics (US), Northrop Grumman (US), Honeywell (US), Airbus (France), Thales (France), Hexagon AB (Sweden), Johnson Controls (US), and Huawei (China).

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Risk Analytics Market Growth

(EMAILWIRE.COM, June 05, 2023 ) According to MarketsandMarkets, the global Risk Analytics Market size is expected to grow from $39.3 billion in 2022 to $70.5 billion by 2027, at a CAGR of 12.4% during the forecast period, 2022-2027.

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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.

Major vendors in the global risk analytics market include IBM (US), SAP (Germany), SAS (US), Oracle (US), FIS (US), Moodys Analytics (US), Verisk Analytics (US), Alteryx (US), AxiomSL (US), Gurucul (US), Provenir (US), BRIDGEi2i (India), Recorded Future (US), AcadiaSoft (US), Qlik (US), DataFactZ (US), CubeLogic Limited (UK), Risk Edge Solutions (India), Equarius Risk Analytics (US), Quantifi (US), Actify Data Labs (India), Amlgo Labs (India), Zesty.ai (US), Artivatic (India), Artivatic (US), RiskVille (Ireland), Quantexa (UK), Spin Analytics (UK), Kyvos Insights (US), Imply (US).

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The software segment to account for largest market size during the forecast period

Based on components, the risk analytics market is segmented into software and services. The software segment has been further segmented into ETL tools, risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting tools, and GRC software, and others (operational risk management, human resource risk management, and project risk management). The software segment is expected to hold the maximum market share in the global risk analytics market. Among all software offered in the market, GRC software has shown the highest adoption across the globe. The services segment has been divided into professional and managed services. With the rising adoption of risk analytics software is expected to boost the adoption of professional and managed services.

Strategic risk segment to to hold higher CAGR during the forecast period

Based on risk type the risk analytics market has been segmented into strategic risk, operational risk, financial risk, and others (reputational risk, environmental risk, third-party risk, and economic risk). Strategic risk segment to to hold higher CAGR during the forecast period. Strategic risks can significantly impact a companys ability to achieve its strategies and business objectives. The financial risk segment is expected to have the largest market size of during the forecast period, due to the increasing need to analyze various growth factors that may affect the growth of the organizations.

The SMEs segment to hold higher CAGR during the forecast period

The Risk analytics market has been segmented by organization size into large enterprises and SMEs. The market share of large enterprises is higher; however, the market for SMEs is expected to register a higher CAGR during the forecast period. To deal with challenges, such as business model sustainability, process efficiency data, reporting, and audit requirement, SMEs are increasingly adopting risk analytics solutions.

Healthcare and Life Sciences segment to hold higher CAGR during the forecast period

Based on vertical risk analytics market has been categorized into different verticals, such as banking and financial services, insurance, manufacturing, transportation and logistics, retail and consumer goods, IT and telecom, government and defense, healthcare and life sciences, energy and utilities, and other verticals The healthcare and life sciences vertical is expected to have the highest CAGR during the forecast period, as the sector is deploying risk analytics solution to streamline six sigma operations, generate quality analysis, and effectively manage complex supply chain operations. Risk analytics can help detect early signs of patient deterioration in the ICU and general ward, identify at-risk patients in their homes to prevent hospital readmissions, and prevent avoidable downtime of medical equipment leading to its adoption in the healthcare and life sciences vertical.

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APAC to hold higher CAGR during the forecast period

The Risk analytics market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. North America is estimated to account for the highest market share in 2022, Asia Pacific is expected to provide significant growth opportunities over the next five years. The rising demand for an analytics solution, which is cloud-driven and cloud-supported, has resulted in the increasing demand for risk analytics solutions in Asia Pacific, thereby resulting in increasing investments and technological advancements across industries.

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(EMAILWIRE.COM, July 17, 2023 ) According to the new market research report "Home Security Systems Market by Home Type (Independent Homes, Apartments), Security (Professionally Installed & Monitored, Do-It-Yourself), Systems (Access Control Systems), Services (Security System Integration Services), Region - Global Forecast 2027" published by MarketsandMarkets, the global home security systems market size is expected to grow from USD 56.9 billion in 2022 to USD 84.4 billion by 2027, at a CAGR of 8.2% during the forecast period.

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The growth of the home security systems market is driven by factors such as growing awareness regarding home security systems and the emergence of the Internet of Things (IoT) and wireless technologies.

Do-It-Yourself (DIY) security market to grow at a high rate from 2022 to 2027

The market for Do-it-Yourself (DIY) security systems is expected to grow at the highest CAGR during the forecast period. A significant customer base of home security systems prefer cost-effective products with a remote monitoring facility to optimize as per their security requirements. In the DiY product category, users can save a large amount of money spent on consulting and installation services. Some of such security systems can be customized and upgraded with additional features by customers as and when they require. Thus, with DIY option suitable for many customers, its adoption is expected to drive the growth of home security systems market.

Video Surveillance Systems to hold the largest share of the market by systems in 2022

The video surveillance systems segment is expected to hold the largest share of the home security systems market by systems in 2022. One of the major benefits of the video surveillance system is that it offers security, monitoring, and analysis of suspicious movements of persons over a perimeter. Hardware productssuch as cameras, monitors, servers, storage units, and other accessoriesform a major part of the video surveillance systems. The hardware products that are currently available in the market are cost effective and technologically advanced. High-definition (HD) cameras, panoramic cameras, and body-worn or spy cameras are among the most recent and attractive trends in the video surveillance market.

Home security systems market in APAC to grow at the highest rate during the forecast period

The home security systems market in APAC is expected to witness significant growth rate during the forecast owing to increasing crime rate and rapid urbanization in the countries such as China, and India. In Japan, growing emphasis by government on fire safety measures is likely to create growth opportunities for the market, while increasing R&D for innovative security products to drive the market in South Korea. The associations and organizations, such as the Asian Professional Security Association (APSA), take initiatives to tap potential opportunities effectively. Among the different products utilized for security, intelligent video surveillance, and electronic access control systems are observed to have the highest demand in this region.

Key Market Players:

A few of the key players in the Home Security Systems Market are ADT LLC. (ADT) (US), Resideo Technologies, Inc. (US), Johnson Controls International plc. (Johnson Controls) (US) HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO. LTD. (HANGZHOU HIKVISION DIGITAL TECHNOLOGY) (China), and ASSA ABLOY AB (ASSA ABLOY) (Sweden).

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(EMAILWIRE.COM, August 24, 2023 ) According to a research report Application Programming Interface Security Market by Offering (Platforms & Solutions and Services), Deployment Mode (On-Premises, Hybrid, and Cloud), Organization Size (SMEs and Large Enterprises), Vertical and Region Global Forecast to 2028″ published by MarketsandMarkets, the global API security market size is projected to grow from USD 744 million in 2023 to USD 3,034 million by 2028 at a Compound Annual Growth Rate (CAGR) of 32.5% during the forecast period.

The expansion of the API security market is propelled by a significant increase in breaches concerning APIs, rendering them a primary focus for hackers. The rise in applications and the vital role of API security in protecting both applications and integrations have further contributed to this surge. As a result, the demand for robust API security measures has increased, driving the growth of the API security market.

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Based on the deployment type, the hybrid segment is to grow at the highest CAGR during the forecasted period

The API security market is divided into on-premises, hybrid, and cloud deployment modes. The hybrid deployment mode experiences the highest CAGR, offering organizations a comprehensive solution for their API security needs. This mode combines the benefits of cloud and on-premises gateways to provide improved security, reduced attack surface, and protection for sensitive data and applications. It optimizes performance by placing gateways closer to API consumers, enhancing user experience with reduced latency. The hybrid deployment mode also brings flexibility in managing API security, enabling organizations to choose the most suitable gateway types for different environments. Furthermore, it helps organizations reduce costs, ensure compliance with industry regulations, and offer scalability and manageability, making it a favored choice in the API security landscape. Thus, the hybrid deployment mode accounts for the highest CAGR during the forecasted period.

By organization size, small and medium-sized enterprises (SMEs) account for the highest CAGR.

Small and medium-sized enterprises (SMEs) contribute the highest CAGR due to various factors. Adopting APIs on a large scale has allowed SMEs to improve connectivity and streamline data sharing, all while maintaining a strong focus on security. However, the rise in API attacks poses significant risks to SMEs in terms of finance and operations, prompting them to prioritize implementing robust API security measures. SMEs are becoming increasingly aware of potential vulnerabilities and actively incorporating security best practices such as OAuth 2.0 and JSON Web Tokens (JWTs). Furthermore, the availability of comprehensive API security solutions empowers SMEs to effectively protect their APIs by implementing security protocols, continuously monitoring for threats, and swiftly responding to attacks. By driving the demand for such solutions, SMEs play a significant role in shaping the API security market.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period.

The Asia Pacific region accounts for the highest market size due to several key factors. The region is experiencing rapid growth fueled by adopting cloud computing, mobile devices, and IoT, leading to an increased demand for application security. Initiatives by organizations like APCERT, ACSC, NCCS, and Japans Cybersecurity Strategy Council are facilitating coordinated responses, providing resources, releasing guidelines, and promoting research. These efforts align with international organizations such as ISO, OWASP, and CSA. As a result, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecasted period.

Google (Apigee) (US), Salt (US), Noname (US), Akamai (US), Data Theorem (US), Axway (US), Imperva (US), Traceable (US), Palo Alto Networks (US), Fortinet (US), Red Hat (US), Airlock by Ergon (Switzerland), Akana by Perforce (US), WS02 (UK), Forum Systems (UK), Cequence (US), Sensidia (Brazil), Spherical Defense (US), Neosec (US), Signal Sciences (US), Firetail (US), Resurface Labs (US), 42Crunch (Ireland), Aiculus (Australia), Gravitee (France) and Nevatech (Georgia) are the key players and other players in the API security market.

About MarketsandMarkets

MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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(EMAILWIRE.COM, August 28, 2023 ) The Global Smart Manufacturing Market is expected to grow from USD 108.9 billion in 2023 to USD 241.0 billion by 2028, registering a CAGR of 17.2%. Key drivers of the smart manufacturing market include IoT adoption, AI integration, enhanced efficiency, data analytics, and cross-industry digital transformation. To remain competitive in a global marketplace, manufacturers embrace smart manufacturing to increase agility, reduce lead times, and respond more quickly to changing customer demands.

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The Manufacturing Execution System segment accounted for the largest market share of the Smart Manufacturing market in 2022. Manufacturing Execution System (MES) adoption is driven by its multifaceted benefits. It optimizes and streamlines production processes, offering real-time data insights that empower informed decision-making. MES ensures product quality through stringent quality control measures and adherence to regulatory standards, bolstering operational efficiency from production to delivery. By providing end-to-end visibility and traceability, MES enhances collaboration, reduces errors, minimizes downtime, and facilitates continuous process improvement, making it an essential tool for modern manufacturing enterprises seeking competitiveness and agility.

The market for industrial sensors segment holds the largest market share in the Smart Manufacturing market. Industrial sensors are experiencing exponential growth, propelled by Industry 4.0 and IoT integration. These sensors facilitate real-time data collection, enabling predictive maintenance, process optimization, and informed decision-making. Their applications span manufacturing, healthcare, energy, and agriculture, driving efficiency and productivity enhancements. As technology advances, sensors redefine industries, revolutionizing operations and paving the way for smarter, more connected systems that drive innovation and competitiveness.

The automotive industry to hold the largest market share in the year 2022. The automotive industry has witnessed substantial growth in smart manufacturing, embracing technologies like IoT, AI, and automation. Connected factories and data-driven processes enhance production efficiency, quality control, and supply chain management. Robotics, predictive maintenance, and real-time analytics optimize operations, resulting in faster innovation, cost reduction, and improved customer experiences. As the industry moves towards electric and autonomous vehicles, smart manufacturing remains integral for agility and competitiveness.

Asia Pacific holds the largest market share in the Smart Manufacturing market. The Asia Pacific to hold the largest market share in the year 2022. Smart manufacturing is rapidly expanding in Asia, driven by technological advancements and industrial transformation. Countries like China, Japan, South Korea, and Singapore are at the forefront of adopting Industry 4.0 technologies, including IoT, AI, and automation. These technologies optimize production processes, enhance quality control, and enable data-driven decision-making. The regions robust manufacturing ecosystem, government support, and skilled workforce contribute to the growth of smart manufacturing, fostering innovation, competitiveness, and economic growth.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the GIVE Growth principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Data Loss Prevention Market Trends

(EMAILWIRE.COM, October 27, 2023 ) According to a research report "Data Loss Prevention Market by Offering (Solution, Services), Solution Type (Network DLP, Storage DLP, Endpoint DLP, Cloud DLP), Service (Consulting, Managed Security Service), Applications, Vertical and Regions - Global Forecast to 2028" published by MarketsandMarkets, the Data Loss Prevention market size is projected to grow from USD 3.4 billion in 2023 to USD 8.9 billion by 2028, at a CAGR of 21.2% during the forecast period, according to MarketsandMarkets. The DLP solutions mainly focus on the classification and monitoring of data that may be in motion, rest, or at the endpoint, as these solutions provide enterprises with the leverage to stop the numerous leaks of information that occur each day. In other words, the main aim of the DLP solutions is to detect potential data breaches that may occur at different levels.

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Based on offering, the service segment is expected to grow with the highest CAGR during the forecast period

The DLP service market is segmented across five major categories: consulting, managed security service, design and integration, education and training, and maintenance and support. These services assist in the systems security from unauthorized access, exploitation, and data loss. The service market continuously evolves with the introduction of integrated Social, Mobile, Analytics, and Cloud (SMAC), which needs proper monitoring. The rising demand for DLP services in the market of sophisticated cyber threats, the incapability of IT people to handle advanced and bundled risks, and outsourcing services are promoting the consultancy business.

North America is expected to have the largest market size during the forecast period.

A convergence of factors drives North Americas Data Loss Prevention (DLP) market. Heightened concerns around data security and privacy and a surge in cyber threats have propelled the demand for DLP solutions. Stringent data protection regulations, such as GDPR and CCPA, have placed legal obligations on organizations to safeguard sensitive information, fostering DLP adoption. Additionally, North Americas vast and diverse business landscape, encompassing industries like finance, healthcare, and technology, requires tailored DLP solutions to address industry-specific challenges, further fueling market growth. Furthermore, the cost of data breaches is reducing year-on-year in the US, and this is due to the increase in investment by organizations toward improving their data security infrastructure.

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Market Players

The Data Loss Prevention market comprises significant providers, such as Broadcom (US), IBM (US), Microsoft (US), Trend Micro (Japan), McAfee (US), Palo Alto Networks (US), GTB Technologies (US), InfoWatch (Russia), Fortra (US), Cisco Systems (US), etc. These competitors have used various growth methods to increase their market share in the Data Loss Prevention industry, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

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MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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(EMAILWIRE.COM, November 13, 2023 ) According to a research report "Privileged Access Management Market by Offering, Deployment Mode (On-Premises and Cloud), Vertical (BFSI, Government, IT & Ites, Healthcare, Telecommunications, Manufacturing, Energy & Utilities, Retail & Ecommerce) and Region - Global Forecast to 2028" published by MarketsandMarkets, the global Privileged Access Management (PAM) market size is projected to grow from USD 2.9 billion in 2023 to USD 7.7 billion by 2028 at a CAGR of 21.5% during the forecast period. The market for PAM has seen significant expansion due to the rapid adoption of digital transformation and cloud technologies, increasing concerns over account and password sharing, the rising threat from insider activities, and enhanced compliance with regulatory standards.

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By vertical segment, the healthcare vertical will grow at the highest CAGR during the forecasted period.

The healthcare vertical is anticipated to have the highest CAGR in the PAM market, primarily driven by the increasing digitization of health records and the rising reliance on connected medical devices. This digital transformation, while improving efficiency and patient care, also introduces vulnerabilities. Privileged accounts in the healthcare system provide access to sensitive patient data, medical histories, and billing information, making them prime targets for cyber adversaries. Moreover, regulatory frameworks like the HIPAA mandate stringent data protection measures, pressuring healthcare organizations to bolster their cybersecurity infrastructure. Additionally, the recent surge in cyberattacks targeting healthcare institutions, particularly ransomware, has further underlined the urgent need for robust PAM solutions. The increasing realization of these vulnerabilities and the need to comply with regulatory standards drive the healthcare vertical to invest heavily in PAM solutions, resulting in its dominant growth trajectory in the market.

By offerings, the professional services segment holds the largest market size during the forecast period.

The professional services segment is anticipated to hold the largest market size during the forecasted period. This prominence is attributed to certain factors. Firstly, implementing PAM solutions requires a nuanced understanding of an organizations IT infrastructure, necessitating consultation, integration, and post-deployment services. Businesses, particularly those without a robust in-house IT team, often turn to professional services to seamlessly integrate PAM tools into their existing systems. Secondly, as cyber threats evolve, there is a growing demand for regular audits, training, and maintenance services to ensure that PAM systems remain robust and up-to-date. Further, as regulations and compliance requirements around data protection become more stringent, companies are leaning on professional services to guarantee that their PAM solutions comply with the latest standards. Consequently, these factors collectively contribute to the anticipated growth and predominance of the professional Services segment in the PAM market during the forecasted period.

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By region, the Asia Pacific market is to grow at the highest CAGR during the forecast period.

The Asia Pacific region, encompassing well-established economies like China, Japan, Australia, and New Zealand and emerging countries like India and Singapore, are poised for the most significant CAGR during the anticipated period. This anticipated surge can be attributed to several factors. Firstly, the region is witnessing rapid technological advancements and a swift digitization pace, particularly in emerging economies such as India. Secondly, as businesses in the area continue to expand, there is a growing emphasis on safeguarding critical data from internal and external threats, driving the demand for robust PAM solutions. Furthermore, increasing awareness about cyber threats, coupled with regulatory pressures to bolster data security measures, is propelling the adoption of PAM systems. Lastly, the regions IT infrastructure is expanding, and the accelerated shift to cloud services necessitates advanced security measures, making PAM solutions pivotal for businesses aiming to protect privileged accounts from potential breaches.

Market Players:
Fortinet (US), Beyond Trust (US), CyberArk (US), Broadcom (US), Imprivata (US), Optiv Security (US), Okta (US), IBM (US), Micro Focus (OpenText) (UK), ManageEngine (Zoho) (US), Hashi Corporation (US), One Identity (US), ARCON (India), Netwrix (US), Delinea (US), Wallix (France), Saviynt (US), Senhasegura (Brazil), KronTech (Turkey), miniOrange (US), EmpowerID (US), StrongDM (US), CyberSolve (US), Opal Security (US), Foxpass (US), Secureden (US), RevBits (US), Silverfort (Israel), and IDM Technologies (UAE) are the key players and other players in the PAM market.

About MarketsandMarkets
MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.

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Email: sales@marketsandmarkets.com

Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com

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(EMAILWIRE.COM, January 19, 2024 ) According to the latest analysis by the virtue market research the Global API Security Market was valued at USD 30.59 Billion and is projected to reach a market size of USD 47.85 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 6.6%.

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A steadfast and enduring force steering the API Security Market toward a long-term horizon is the relentless surge in digital transformation endeavors across industries. As businesses increasingly pivot towards comprehensive digitization initiatives, the reliance on APIs as the linchpin of interconnected systems amplifies exponentially. This long-term driver is propelled by the imperative need for seamless data exchange, fostering a culture of innovation and efficiency. The omnipresence of APIs in modern applications and systems not only facilitates connectivity but also positions API security as an indispensable cornerstone for ensuring the integrity, confidentiality, and reliability of data in the digital landscape. This strategic alignment underscores the enduring significance of API security as a linchpin in the evolving realm of digital ecosystems.

Even amidst the unprecedented upheavals induced by the COVID-19 pandemic, the significance of API security has undergone an unprecedented intensification. The widespread shift to remote work, dictated by the necessity of social distancing measures, has accentuated the reliance on digital platforms. This magnification of digital dependency has further underscored the paramount importance of securing API endpoints against evolving cyber threats. The COVID-19 pandemic, rather than hindering, has accentuated the critical role that API security plays in fortifying the digital infrastructure, ensuring the resilience and security of interconnected systems in the face of unforeseen disruptions.

In the short term, a pivotal driver propelling the API Security Market is the accelerated adoption of cloud-based solutions. As organizations swiftly transition to cloud environments, driven by imperatives of agility, scalability, and operational flexibility, the vulnerabilities associated with API connections escalate. This short-term driver underscores the critical need for robust API security solutions specifically tailored for the nuances of cloud architectures. The dynamic nature of cloud-based environments necessitates innovative and adaptive security measures to mitigate risks and vulnerabilities associated with API connections in the ever-expanding cloud ecosystem.

Simultaneously, an opportune window opens with the meteoric rise of edge computing. The proliferation of edge devices, spanning from IoT gadgets to edge servers, necessitates enhanced API security measures. This creates a unique opportunity for innovative solutions that cater specifically to the distinct challenges presented by the edge computing landscape. The convergence of API security and edge computing reflects a proactive approach in addressing the evolving demands of decentralized computing architectures, thereby shaping a trend that emphasizes adaptability and customization in API security solutions.

A prominent and forward-looking trend observed in the API Security Market is the pervasive integration of AI-driven threat detection mechanisms. As cyber threats evolve in sophistication and complexity, the industry witnesses a pronounced trend towards leveraging artificial intelligence to detect, analyze, and mitigate potential risks in real-time. This trend aligns seamlessly with the dynamic nature of cyber threats, providing organizations with proactive and predictive security measures against an ever-evolving threat landscape. The infusion of AI into API security strategies reflects a strategic commitment to staying ahead of emerging threats and ensuring robust, anticipatory security protocols in the face of a continually shifting cybersecurity landscape.

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Market Segmentation:
By Deployment Type: On-premise, Cloud-based
In the dynamic realm of the API Security Market, the segmentation by deployment type unveils key insights into the preferences and trends guiding the industry. Notably, the largest segment in this classification is the Cloud-based deployment. The prevalence of cloud computing solutions in the modern technological landscape propels the dominance of this deployment type. Organizations, seeking agility, scalability, and cost-effectiveness, increasingly opt for cloud-based API security solutions. The flexibility offered by cloud deployments aligns seamlessly with the dynamic requirements of businesses, solidifying the Cloud-based segment as the largest and most favored in the API Security Market.

Simultaneously, a noteworthy trend unfolds with the On-premise deployment standing out as the fastest-growing segment. This surge in growth signifies a continued preference for traditional on-premise solutions, particularly among enterprises with specific regulatory requirements or stringent security policies. The On-premise deployment, despite the rising popularity of cloud solutions, resonates with organizations seeking localized control over their security infrastructure. This trend reflects the nuanced demands of diverse industries, showcasing a balanced coexistence of both Cloud-based and On-premise deployment types within the API Security Market.

By End User: Small Enterprises, Medium Enterprises, Large Enterprises
In the ever-evolving landscape of the API Security Market, understanding the nuances of end-user segmentation is crucial for deciphering market dynamics. Notably, the largest segment in this classification is Large Enterprises. The prominence of large enterprises in adopting comprehensive API security solutions is driven by their intricate digital infrastructures and expansive network interactions. These organizations, often handling vast amounts of sensitive data and operating on a global scale, prioritize robust API security measures to safeguard against potential cyber threats. The scale of operations and the complexity of their digital ecosystems position large enterprises as the largest consumer group within the API Security Market.

Simultaneously, a discernible trend surfaces with Medium Enterprises emerging as the fastest-growing segment. This surge in growth signifies a heightened awareness among medium-sized enterprises regarding the critical importance of API security. As digitalization permeates businesses of varying sizes, medium enterprises are swiftly recognizing the need for tailored security solutions to protect their digital assets. The agility and scalability offered by API security solutions catered to medium enterprises contribute to the accelerated growth of this segment. This trend mirrors the evolving threat landscape and the imperative for organizations, irrespective of size, to fortify their digital gateways against potential vulnerabilities.

By Industry: BFSI, IT & Telecom, Government, Healthcare and Life Sciences, Retail and Consumer Goods, Others
Within the multifaceted landscape of the API Security Market, industry-wise segmentation provides valuable insights into the sectors driving market dynamics. Notably, the largest segment in this categorization is the IT & Telecom industry. The pervasive adoption of APIs within the IT & Telecom sector, driven by the need for seamless connectivity and data exchange, positions it as the leading consumer of API security solutions. The intricate digital networks and vast data flows within this industry underscore the critical role of robust API security measures in safeguarding against cyber threats, solidifying IT & Telecom as the largest segment in the API Security Market.

Simultaneously, a discernible trend emerges with the Healthcare & Life Sciences sector standing out as the fastest-growing segment. This surge in growth signifies a heightened awareness within the healthcare industry regarding the paramount importance of API security. As healthcare systems undergo digital transformations and incorporate interconnected technologies, the need to secure data exchanges becomes imperative. The Healthcare & Life Sciences industry's rapid adoption of API security solutions reflects a proactive approach to safeguarding sensitive patient data and ensuring the integrity of digital health ecosystems. This trend aligns with the broader digitalization trends within the healthcare sector, making it the fastest-growing segment in the API Security Market.

Regional Analysis:
In the geographical segmentation of the API Security Market, the prominence and growth trajectories of different regions shape the market landscape. Notably, the largest segment in this categorization is North America. The robust technological infrastructure, extensive adoption of digital solutions, and a high concentration of IT-intensive industries contribute to North America's dominance in API security consumption. The region's mature cybersecurity landscape and stringent data protection regulations further propel the demand for sophisticated API security solutions, establishing North America as the largest market segment.

Simultaneously, a noteworthy trend unfolds with Asia-Pacific standing out as the fastest-growing region during the forecast period. This surge in growth reflects the escalating digital transformation initiatives across diverse industries in Asia-Pacific. Rapid economic development, increased internet penetration, and a burgeoning tech-savvy population contribute to the heightened demand for robust API security measures. As businesses in the region embrace advanced digital solutions, the necessity for comprehensive API security solutions becomes paramount. This trend positions Asia-Pacific as the epicenter of growth in the API Security Market, showcasing the region's dynamic embrace of digital innovation and the consequential surge in API security needs.

Latest Industry Developments:
Comprehensive Integration of Machine Learning: A discernible trend in the API Security Market is the strategic adoption of machine learning (ML) as a linchpin in enhancing security measures. Recent developments showcase a surge in companies incorporating ML algorithms to fortify their API security solutions. This strategic shift is motivated by the need for adaptive and proactive threat detection mechanisms. By leveraging ML, companies aim to create dynamic security protocols that evolve in tandem with emerging cyber threats. This trend not only augments the real-time capabilities of API security systems but also positions companies at the forefront of innovation in combating sophisticated cyber-attacks.

Emphasis on Zero Trust Architecture: A prominent strategy observed among companies in the API Security Market is the increasing emphasis on Zero Trust Architecture. Recent trends indicate a paradigm shift towards mistrusting every user and device, regardless of their location within or outside the corporate network. Companies are integrating Zero Trust principles into their API security frameworks, ensuring that access permissions are rigorously verified at every interaction point. This strategic move aligns with the evolving threat landscape, where traditional perimeter-based security models prove inadequate. By adopting Zero Trust principles, companies aim to bolster their market share by providing clients with robust and adaptive security architectures.

Collaborative Ecosystem Approach: A notable trend shaping the strategies of companies in the API Security Market is the move towards a collaborative ecosystem approach. Recent developments showcase an increasing recognition that no single solution can comprehensively address the multifaceted challenges posed by API security. Companies are actively engaging in partnerships and collaborations to create integrated security ecosystems. This trend is fueled by the understanding that a collective approach, involving multiple security layers and specialized solutions, is essential for holistic API security. By fostering collaborative ecosystems, companies position themselves as comprehensive security providers, meeting the diverse needs of clients in an interconnected digital landscape.

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(EMAILWIRE.COM, January 24, 2024 ) According to the latest analysis by the virtue market research in 2023, the Global Photovoltaic Floor Market was valued at USD 81.2 Billion and is projected to reach a market size of USD 156.07 Billion by 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 8.51%.

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One of the stalwart long-term drivers of the Global Photovoltaic Floor Market is the relentless global shift towards renewable energy sources. As societies around the world grapple with the implications of climate change, there has been an increasing emphasis on sustainable energy solutions. Photovoltaic floors, harnessing the power of the sun to generate electricity, have emerged as a frontrunner in this endeavor. The market's growth trajectory has remained steadfast, fueled by governments' renewable energy policies, corporate sustainability initiatives, and a growing awareness among consumers about the environmental impact of traditional energy sources.

However, the COVID-19 pandemic cast a shadow over numerous industries, and the Photovoltaic Floor Market was no exception. The initial disruption in supply chains, coupled with uncertainties about the economic fallout, led to a temporary slowdown. Despite these challenges, the industry exhibited remarkable resilience. Governments worldwide, recognizing the strategic importance of renewable energy, continued to support and invest in solar technologies. The pandemic, in an unexpected twist, accelerated the adoption of renewable energy solutions as nations sought to build back greener and more sustainably.

In the short term, the Photovoltaic Floor Market is being propelled forward by the increasing focus on urban sustainability. As cities grapple with rising energy demands and environmental concerns, the integration of photovoltaic floors in urban landscapes has gained momentum. Governments and urban planners, recognizing the dual benefits of energy generation and sustainable infrastructure, are driving investments in solar technologies within city limits.

Simultaneously, a noteworthy opportunity has emerged in the form of technological advancements. Innovations in photovoltaic floor materials, designs, and installation processes are making solar solutions more efficient and cost-effective. This has not only expanded the market reach but has also made solar energy an increasingly viable option for a broader consumer base.

One prominent trend that has captured the industry's attention is the growing interest in smart and connected photovoltaic floor systems. These systems, equipped with sensors and data analytics capabilities, enable real-time monitoring and optimization of energy production. This trend aligns with the broader wave of digitalization and the Internet of Things (IoT) across various industries. The integration of smart technologies into photovoltaic floors not only enhances their efficiency but also opens up new possibilities for sustainable energy management in smart cities and buildings.

As the Global Photovoltaic Floor Market navigates the dynamics of long-term drivers, short-term influences, opportunities, and emerging trends, it stands at the intersection of technological innovation and environmental stewardship. The resilience demonstrated during the challenges posed by the COVID-19 pandemic underscores the industry's commitment to a sustainable and renewable future. As we move forward, the collaborative efforts of governments, businesses, and consumers will play a pivotal role in shaping the trajectory of the Photovoltaic Floor Market and its contribution to a cleaner, greener planet.

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Market Segmentation:
By Technology: Crystalline Silicone, Thin-Film, and Others
In the vast landscape of the Global Photovoltaic Floor Market, technology serves as the compass guiding the industry's trajectory. Three main technological categories, namely Crystalline Silicone, Thin-Film, and Others, shape the market's dynamics.
Crystalline Silicone emerges as the behemoth in this technological realm. With its efficient energy conversion capabilities and widespread adoption, it claims the throne as the largest segment. Its dominance is not merely symbolic but is substantiated by its widespread usage in various solar applications, from residential installations to large-scale industrial projects. Moreover, as technology advances, Crystalline Silicone is poised to maintain its supremacy, earning the title of the fastest-growing technological segment during the forecast period.

By Product: Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon, and Copper Indium Gallium Di-Selenide
Among these, Copper Indium Gallium Di-Selenide stands tall as the largest in this segment. Its unique composition and flexibility make it a preferred choice for specific applications where adaptability is crucial. Concurrently, Monocrystalline emerges as the fastest-growing product category. Its efficiency and evolving manufacturing techniques position it as the rising star in the Photovoltaic Floor Market, capturing the imagination of industries and individuals alike.

By End-Use: Residential, Commercial and Industrial, and Utility
Within this spectrum, the commercial and industrial segment stands out as the largest consumer. As businesses increasingly prioritize sustainability, the integration of photovoltaic floors into commercial and industrial spaces has become a hallmark of responsible energy practices. The sector's appetite for renewable energy solutions propels it to the forefront of market consumption.

Simultaneously, the commercial and industrial segment is not just the largest but also the fastest-growing end-use category. The momentum behind this growth is fueled by a confluence of factors, including governmental incentives, corporate sustainability commitments, and the overall push for a cleaner energy landscape.

Regional Analysis:
Asia-Pacific emerges as the largest player in this geographical segment. The region's voracious appetite for energy, coupled with a proactive approach towards renewable sources, positions it as the epicenter of the Photovoltaic Floor Market. The continent's vast market share is a testament to its commitment to harnessing solar power for sustainable development.
Furthermore, as the industry charts its course into the future, Asia-Pacific retains its position as the fastest-growing region during the forecast period. The confluence of economic growth, technological advancements, and environmental considerations propels the region into a leadership role, shaping the narrative of the Photovoltaic Floor Market on a global scale.

Latest Industry Developments:
Strategic Alliances and Partnerships: Companies in the Photovoltaic Floor Market are increasingly opting for strategic alliances and partnerships to foster innovation and broaden their market reach. Recent trends reveal collaborations between solar technology firms and construction companies to integrate photovoltaic floors seamlessly into building projects. These partnerships not only leverage the expertise of each party but also contribute to the development of cutting-edge solutions that cater to diverse consumer needs.

Focus on Sustainable Design and Aesthetics: A notable trend in the market is the emphasis on sustainable design and aesthetics, with companies recognizing the importance of blending renewable energy solutions seamlessly into the built environment. Recent developments showcase a shift towards aesthetically pleasing photovoltaic floor designs that complement architectural elements. This trend aims to overcome traditional barriers related to the visual impact of solar installations, making them more appealing to a broader consumer base and driving market penetration.

Investment in Research and Development (R&D): Companies are directing significant resources towards research and development initiatives to stay at the forefront of technological advancements. Recent developments highlight a surge in R&D investments focused on enhancing the efficiency and durability of photovoltaic floor materials. This trend is driven by the quest for more cost-effective and sustainable solutions, as companies seek to differentiate themselves in a competitive market by offering products that align with evolving consumer expectations and global sustainability goals.

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Virtue Market Research stands at the forefront of strategic analysis, empowering businesses to navigate complex market landscapes with precision and confidence. Specializing in both syndicated and bespoke consulting services, we offer in-depth insights into the ever-evolving interplay between global demand and supply dynamics. Leveraging our expertise, businesses can identify emerging opportunities, discern critical trends, and make decisions that pave the way for future success.

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Managed Security Services Market Size

(EMAILWIRE.COM, February 21, 2024 ) According to a research report "Managed Security Services Market by Service Type (Managed IAM, MDR, Managed SIEM, Log Management), Type (Fully Managed & Co-managed), Security Type (Network, Cloud, Endpoint, Application), Organization Size, Vertical, & Region - Global Forecast to 2028" published by MarketsandMarkets, the global MSS market size is expected to grow from USD 30.6 billion in 2023 to USD 52.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period.

The escalation of cyberattacks and sophisticated breaches across enterprises are driving organizations to seek expert help in navigating the complex and ever-evolving threat landscape. Also, stringent government regulations are demanding robust data security further driving the global managed security services market.

Browse 401 market data Tables and 60 Figures spread through 404 Pages and in-depth TOC on "Managed Security Services Market

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The type fully managed segment is expected to grow at the highest CAGR during the forecast period.

The fully managed segment is expected to see continued growth in the coming years as organizations seeking complete control and minimal involvement in security operations opt for fully managed MSS. This provides hands-off security with minimal resource allocation from the in-house team. Organizations can align their resources and efforts with strategic initiatives rather than dedicating significant resources to security operations.

The SMES segment is expected to grow at the highest CAGR during the forecast period.

SMEs often lack the in-house cybersecurity expertise to manage and protect their digital assets effectively. MSS provides access to skilled professionals who can address their security needs without requiring internal expertise in a myriad of applications, services, and content for businesses and consumers.

Middle East& Africa is likely to emerge as the fastest-growing segment during the forecast period.

The Middle East & Africa Managed security services market anticipates sustained explosive growth, driven by government policies, cloud adoption, the talent gap, and a growing focus on digitalization, with businesses across the region increasingly relying on MSS partners to navigate the complex cyber landscape and safeguard their valuable assets.

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Market Players

The major vendors covered in the Managed Security Services Market are IBM (US), NTT (Japan), Accenture (Ireland), DXC Technology (US), Secureworks (US), Trustwave (US), Atos (France), Orange Cyberdefense (France), Fujitsu (Japan), AT&T (US), Verizon (US), Capgemini (France), HPE (US), Cisco (US), TCS (India), Kudelski Security (Switzerland), F5(US), Infosys (India), Lumen Technologies (US), Crowdstrike (US), Kroll (US), Nokia Networks (Finland), Trend Micro (Japan), Cipher Security (US), RSI Security (US), SecurityHQ (UAE), TrustNet (US), LightEdge (US), Nettitude (US), Teceze (US), CyFlare (US), Ascend Technologies (US), Avertium (US), DigitalXRAID (UK).

About MarketsandMarkets

MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit https://www.marketsandmarkets.com/ or follow us on Twitter, LinkedIn and Facebook.

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(EMAILWIRE.COM, March 28, 2024 ) According to a research report "Identity Verification Market by Offering (Solutions and Services), Type (Biometric and Non-Biometric), Organization Size, Deployment Mode, Application, Vertical (BFSI, Retail & eCommerce, and Gaming & Gambling) and Region - Global Forecast to 2028" published by MarketsandMarkets, the global Identity Verification market is projected to grow from USD 10.9 billion in 2023 to USD 21.8 billion by 2028 at a compound annual growth rate (CAGR) of 14.9% during the forecast period. Increasing regulatory requirements worldwide, such as KYC and AML mandates, compel businesses to adopt robust identity verification solutions, driving market growth. Compliance with stringent financial crime prevention and data protection regulations increases demand for advanced identity verification technologies across industries.

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By offering, the services segment to grow with the highest CAGR during the forecast period.

Identity verification involves various processes, such as document verification, biometric authentication, and identity proofing. Managing these processes in-house can be complex and resource-intensive for organizations. Outsourcing to service providers can streamline these processes and provide more efficient solutions. Many organizations prefer to outsource identity verification processes to specialized service providers due to their expertise and advanced technologies. This trend will likely continue, especially as regulations become more stringent, driving the demand for reliable identity verification services.

By type, the biometrics segment holds a larger market size during the forecast period.

Biometrics is driving significant growth in identity verification due to its unmatched security features, offering difficult-to-forge identifiers like fingerprints, facial features, and iris scans. Besides security, biometrics also enhance convenience, providing touchless and rapid verification, thus improving user experience and operational efficiency. Ongoing technological advancements in sensors, algorithms, and liveness detection further enhance the accuracy and reliability of biometric solutions. Regulatory requirements, especially for KYC/AML compliance, propel the adoption of biometric verification methods. Additionally, the expanding application of biometrics across various sectors like access control, mobile payments, border security, and healthcare is broadening its market reach. While biometrics leads the way, other identity verification segments like Knowledge-Based Authentication (KBA), document verification, and passive authentication demonstrate substantial growth potential.

By region, Asia Pacific will grow at the highest CAGR during the forecast period.

Key factors driving growth in the Asia Pacific (APAC) identity verification market include rapid digitalization and government initiatives promoting digital governance and eID. Countries like China, India, and Singapore are experiencing robust growth, with mobile-based verification and biometrics like facial recognition gaining significant traction. Government initiatives involve enhanced funding, regulatory guidelines to streamline the process, and eID initiatives across airports and public utilities.

Experian (Ireland), LexisNexis Risk Solutions (US), Equifax (US), Thales (France), GBG (UK), TransUnion (US), Mastercard (US), Onfido (UK), Trulioo (Canada), Mitek Systems (US), IDEMIA (France), Jumio (US), HyperVerge (India), AU10TIX (Israel), Innovatrics (Slovakia), Intellicheck (US), Signicat (Norway), SecureKey Technologies (Canada), IDfy (India), IDMERIT (US), Veriff (Estonia), AuthenticID (US), TruNarrative (UK), Sumsub (UK), IDology (US), PassFort (UK), PXL Vision (Switzerland), Shufti Pro (UK), iDenfy (Lithuania), Berbix (US), Persona (US), Ekata (US), and HooYu (UK) are the key players and other players in the identity verification market.

About MarketsandMarkets

MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Perimeter Security Industry

(EMAILWIRE.COM, April 09, 2024 ) The global Perimeter Security Market is poised to grow from $70.8 billion in 2022 to $100.2 billion by 2027 at CAGR of 7.2% during the forecast period, according to new report by MarketsandMarkets.

Factors driving the market growth include increasing security breaches and perimeter intrusions worldwide, rising demand for perimeter security solutions such as video surveillance, access control systems, and others, and the proliferation of smart technologies such as IoT, AI, and ML.

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By component, the systems segment to grow with the highest CAGR during the forecast period

The perimeter security market is segmented into systems and services based on the component. The systems segment has the highest CAGR because many businesses use video surveillance systems, perimeter intrusion detection systems, access control systems, alarm and notification systems, and others to enhance their security operations. An increase in crime rates and the advancement in technology are also helping the services segment to grow. Furthermore, the growing need to secure external premises and stringent government regulations are leading to growth in this segment.

By system, video surveillance systems to hold a larger market size during the forecast period

The perimeter security market is segmented into Perimeter Intrusion Detection, Video Surveillance Systems, Access Control Systems, Alarm, and Notification Systems, Barrier Systems, and Other Systems based on the system. Video Surveillance holds the capability of providing robust security to users against the rising incidents of terrorism coupled with security and reliability concerns. With the advancement in technology, video surveillance systems are getting enhanced and hence becoming more popular. Further, the market for video surveillance systems is expanding rapidly due to the growing need to secure airports, malls, retail stores, and other important infrastructures. Thus, video surveillance systems hold a larger market share during the forecast period.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period

A rise in criminal activity and growing public concerns are predicted to increase security costs in the Asia Pacific region. The nations with the fastest economic growth rates, include China, Japan, India, Singapore, Australia, and New Zealand. Due to the swift and sophisticated adoption of new technologies, the Asia Pacific region is a profitable market for perimeter security products and services. The region is frequently the target of perimeter security attacks even if the latest security measures are in place. Smart cities and infrastructure are being built in the region, which will increase the need for perimeter security solutions. Additionally, due to successful government programs for modernization and technology breakthroughs, perimeter security systems have the potential for rapid expansion. Consequently, the Asia Pacific area is anticipated to increase at the greatest CAGR throughout the expected period.

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Honeywell (US), Dahua Technology (China), Bosch Security Systems (Germany), Hikvision (China), Axis Communications (Sweden), Senstar (Canada), Pelco (US), Raytheon Technologies (US), Teledyne FLIR (US), Thales (France), Johnson Controls (Ireland), Fiber SenSys (US), Ameristar Perimeter Security (US), Optex (Japan), Panasonic (Japan), Southwest Microwave (US), Avigilon (Canada), Advanced Perimeter Systems (UK), Cias (Italy), Gallagher (New Zealand), Ingersoll Rand (US), Infinova (US), RBtec Perimeter Security Systems (US), SORHEA (France), PureTech Systems (US), SightLogix (US), SCYLLA (US), Veesion (France), Pivotchain (India), Prisma Photonics (Israel), Openpath (US), Density (US), Barrier1 Systems (US), Alcatraz (US), and Kisi (US) are the key players, SMEs, and startups in the perimeter security market.

About MarketsandMarkets

MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

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Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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(EMAILWIRE.COM, April 18, 2024 ) According to a research report "Identity Verification Market by Offering (Solutions and Services), Type (Biometric and Non-Biometric), Organization Size, Deployment Mode, Application, Vertical (BFSI, Retail & eCommerce, and Gaming & Gambling) and Region - Global Forecast to 2028" published by MarketsandMarkets, the global Identity Verification market is projected to grow from USD 10.9 billion in 2023 to USD 21.8 billion by 2028 at a compound annual growth rate (CAGR) of 14.9% during the forecast period. Increasing regulatory requirements worldwide, such as KYC and AML mandates, compel businesses to adopt robust identity verification solutions, driving market growth. Compliance with stringent financial crime prevention and data protection regulations increases demand for advanced identity verification technologies across industries.

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By offering, the services segment to grow with the highest CAGR during the forecast period.

Identity verification involves various processes, such as document verification, biometric authentication, and identity proofing. Managing these processes in-house can be complex and resource-intensive for organizations. Outsourcing to service providers can streamline these processes and provide more efficient solutions. Many organizations prefer to outsource identity verification processes to specialized service providers due to their expertise and advanced technologies. This trend will likely continue, especially as regulations become more stringent, driving the demand for reliable identity verification services.

By type, the biometrics segment holds a larger market size during the forecast period.

Biometrics is driving significant growth in identity verification due to its unmatched security features, offering difficult-to-forge identifiers like fingerprints, facial features, and iris scans. Besides security, biometrics also enhance convenience, providing touchless and rapid verification, thus improving user experience and operational efficiency. Ongoing technological advancements in sensors, algorithms, and liveness detection further enhance the accuracy and reliability of biometric solutions. Regulatory requirements, especially for KYC/AML compliance, propel the adoption of biometric verification methods. Additionally, the expanding application of biometrics across various sectors like access control, mobile payments, border security, and healthcare is broadening its market reach. While biometrics leads the way, other identity verification segments like Knowledge-Based Authentication (KBA), document verification, and passive authentication demonstrate substantial growth potential.

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By region, Asia Pacific will grow at the highest CAGR during the forecast period.

Key factors driving growth in the Asia Pacific (APAC) identity verification market include rapid digitalization and government initiatives promoting digital governance and eID. Countries like China, India, and Singapore are experiencing robust growth, with mobile-based verification and biometrics like facial recognition gaining significant traction. Government initiatives involve enhanced funding, regulatory guidelines to streamline the process, and eID initiatives across airports and public utilities.

Experian (Ireland), LexisNexis Risk Solutions (US), Equifax (US), Thales (France), GBG (UK), TransUnion (US), Mastercard (US), Onfido (UK), Trulioo (Canada), Mitek Systems (US), IDEMIA (France), Jumio (US), HyperVerge (India), AU10TIX (Israel), Innovatrics (Slovakia), Intellicheck (US), Signicat (Norway), SecureKey Technologies (Canada), IDfy (India), IDMERIT (US), Veriff (Estonia), AuthenticID (US), TruNarrative (UK), Sumsub (UK), IDology (US), PassFort (UK), PXL Vision (Switzerland), Shufti Pro (UK), iDenfy (Lithuania), Berbix (US), Persona (US), Ekata (US), and HooYu (UK) are the key players and other players in the identity verification market.

About MarketsandMarkets

MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

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