Bot Security Market Set to Thrive: Surges to US$ 666.7 Million in 2023, Envisioning a CAGR of 18.3% towards US$ 3,624.5 Million by 2033

The bot security market is anticipated to develop at a compound annual growth rate (CAGR) of 18.3%, from its estimated value of US$ 666.7 million in 2023 to US$ 3,624.5 million in 2033. This market focuses on safeguarding networks and digital systems from harmful activity executed by automated software applications known as bots.

Specialised security measures are becoming more and more necessary due to the increasing usage of bots in cybercrime, including credential stuffing, DDoS assaults, account takeover, and botnet activities. The demand for bot security is driven by a number of factors, such as the expansion of online services and e-commerce, the need to safeguard brand reputation, rising worries about cybersecurity, advances in bot technology, and greater public awareness and education.

However, companies and manufacturers in the bot security market face challenges such as scalability and interoperability, handling false positives and negatives, dealing with distributed bot networks, and ensuring compliance and legal considerations.

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There are significant opportunities in the bot security industry, including technological advancements in AI, machine learning, and behavioural analytics, the adoption of cloud-based security solutions, the development of industry-specific bot security solutions, and tapping into emerging markets through localized solutions and partnerships.

The latest trends in the bot security market include behaviour-based analysis to detect anomalies in user behavior, intent recognition to understand the purpose of bot actions, the emergence of Bot Mitigation-as-a-Service (BaaS) offerings, and the importance of threat intelligence sharing to enhance defenses against evolving bot attacks.

North America holds a significant share of the bot security market, with a 31.3% contribution in 2022. The region experiences a high number of bot attacks due to its large online population and valuable digital assets. Government agencies collaborate with the private sector to promote cybersecurity, driving the growth of the bot security market in North America.

Germany plays a crucial role in the European bot security market, holding a share of 9.1%. The country has implemented strict data protection regulations and emphasizes continuous improvement in security practices, contributing to the market’s growth.

India is a potential market for bot security, with a projected CAGR of 21.4%. The country’s rapid digital transformation and large online population make it an attractive target for cybercriminals. The government has launched initiatives to strengthen cybersecurity and mitigate bot attacks.

The U.K. is witnessing a growth trajectory of 19.3% in the bot security market. Its advanced technological landscape and emphasis on incident response and recovery capabilities drive the development of innovative bot security solutions.

Web security, particularly for web applications and APIs, is crucial in bot security. It commanded a market share of 47.5% in 2022, as bots often exploit vulnerabilities in these areas. API security measures contribute to overall web security.

Despite the rise of cloud-based solutions, the on-premise deployment mode still holds a significant share of 51.3%. It provides customization, control, and compliance adherence, and organizations may opt for hybrid deployments to balance control and flexibility.

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Latest Developments

DataDome released the progress of bot management, a user-friendly, privacy-compliant, safe CAPTCHA, in July 2022. The innovative technology complies with all regional data privacy guidelines around the world. DataDome’s CAPTCHA is fully integrated into the protection, and detection engine, and enhanced user experience.

Kasada announced its partnership with Amazon CloudFront in July 2022. It is a component of Amazon Web Services Ready. The announcement also verifies the company’s award-winning anti-bot system, which easily integrates precision solutions like Amazon Cloud Front.

Segmentation Analysis of the Bot Security Market

By Security Type:

Web Security

Mobile Security

API Security

By Deployment Mode:

Cloud

On-Premises

By Organization Size:

Small and Medium-sized Enterprises (SMEs)

Large Enterprises

By Vertical:

Retail and eCommerce

Media and Entertainment

Travel and Tourism

BFSI

Telecom

Government and Defense

Healthcare

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia

Oceania

The Middle East & Africa

Blockchain Market Soars: Global Demand Forecasted to Reach US$ 155 Billion by 2032

At a compound annual growth rate (CAGR) of 34.1%, the blockchain industry is projected to reach US$ 155 billion in 2032 from US$ 8.3 billion in 2022.A worldwide blockchain industry assessment states that there would be a surge in demand for cryptographic ledger solutions due to the increase in identity and data theft crimes. Digital ledger technologies are being used by BFSI organisations to protect the identity and financial information of end users.

Cross-border transactions, trade finance networks, digital identity verification, credit reporting, processing and settlements, and trade finance networks are some of the technological applications that are becoming more and more popular in the BFSI industry.

This is projected to help the blockchain market expand. The blockchain market growth will be hampered by a scarcity of skilled professionals. Threats and cyberattacks have escalated as industries have embraced digital change. Organizations, on the other hand, face a scarcity of competent experts to deal with risk issues.

As a result, technologically advanced solutions are being adopted slowly, which is expected to have an impact on blockchain market growth in the coming years. Furthermore, developing countries such as India, Peru, and Mexico, among others, face a lack of awareness regarding data security risks.

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As a result, blockchain market adoption trends are expected to remain flat for a few years. The legalization of bitcoin stimulates further investment in blockchain technology by businesses and investors. It also pushes the blockchain market players to put in more effort to enhance their services in order to obtain a competitive advantage.

Key Takeaways 

The BFSI industry is predicted to have a substantial market share due to the rising use of digital ledger solutions and services by financial institutions to streamline company processes and reduce operating expenses.

In the blockchain industry, North America is expected to have the greatest market share. Early acceptance of blockchain and the presence of several producers offering privacy and blockchain solutions are projected to fuel the region’s market rise.

The blockchain platform segment is expected to advance at a CAGR of 33.4% throughout the forecast period.

The US blockchain market size is expected to reach a valuation of US$ 55.2 Bn by 2032.

The payments segment is likely to command a higher share of the blockchain market. The technology improves the transparency, cost-effectiveness, and operational efficiency of payment systems.

Competitive Landscape 

The blockchain market’s competitive landscape is highly fragmented by nature. Companies are concentrating on tactics to strengthen their market positions, such as mergers and acquisitions.

Blockchain market participants are also concentrating on improving their product offerings in order to better respond to changing user wants and remain competitive. As a result, market participants are increasing their R&D spending in order to improve their product offers. In addition, the companies are partnering with institutions all around the world to encourage technological development, academic research, and innovation in the field of cryptocurrency and blockchain technology.

IBM, Blockcypher, AWS, Huawei, Intel, Oracle, Accenture, Guardtime, Wipro, Bitfury, Symbiont, SAP, Cegeka, and BigchainDB are some of the most creative blockchain vendors.

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Recent Developments: 

Amazon Web Services launched ethereum on its managed distributed ledger in March 2021. This approach aids developers in determining ethereum nodes without having to deal with the complexities of infrastructure operation and setup.

BIGG Digital Asset Inc. and Blockchain Foundry Inc. joined in June 2021. This collaboration is likely to let enterprises offer forensic and risk-scoring services to stablecoin and fractional NFT creators

Key Segments

By Component:

Platform

Service

By Provider:

Application

Middleware

Infrastructure

By Organizational Size:

Large Enterprise

Small & Medium Sized Enterprise

By Type:

Private

Public

Hybrid

By Application Area:

Transportation and Logistics

Agriculture and Food

Manufacturing

Energy & Utilities

Healthcare and Life Science

Media, Advertising and Entertainment

Banking and Financial Services

Insurance

IT and Telecom

Retail and E-Commerce

Government

Others

By Region:

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

Blockchain AI Market Set to Skyrocket: Surges from US$ 440 Million in 2023 to Projected US$ 3,536.2 Million by 2033

The Blockchain AI market, valued at US$ 358.4 million in 2022, is set to reach approximately US$ 440 million in 2023. Furthermore, a comprehensive analysis predicts that the global Blockchain AI market will surge to an astounding US$ 3,536.2 million by 2032, boasting a remarkable CAGR of 22.9% from 2023 to 2033.

Increasing adoption of AI-based blockchain platforms among SMEs to enhance blockchain applications like smart contracts, payment systems, and others is projected to fuel the market. Also, the development of cryptocurrency is projected to play a vital role in strengthening the market.

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Key Takeaways 

The global blockchain AI market estimated at USD 285.7 Million in 2021

The global blockchain AI market to secure USD 2.8 Billion in 2032

The projected growth rate of the global blockchain AI market is 22.9%

The platform segment to flourish at 21.3%

The cloud segment to record 20.6%

The U.S market to garner USD 917.7 Million recording a 22.2% growth rate

China to procure USD 208.2 Million market value, exhibiting a 22.1% CAGR

Blockchain AI Market Size and Growth:

The Blockchain AI market is poised for exponential expansion, exhibiting a remarkable projected CAGR of 22.9% from 2023 to 2033. With this trajectory, the market is expected to attain an astounding valuation of US$ 3,536.2 million by 2033. This robust growth is fueled by the synergistic potential of blockchain and AI, driving innovation, efficiency, and security across sectors worldwide.

Competition Analysis – Regional Trends:

As the Blockchain AI market accelerates, regional dynamics come into play. The Asia-Pacific region has been a prominent player, capitalizing on technological advancements and widespread adoption. North America follows closely, showcasing a rapidly evolving landscape characterized by major industry players and significant investments. Meanwhile, Europe contributes to the market’s momentum through a combination of research and development initiatives and strategic collaborations.

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Region-wise Insights:

Asia-Pacific’s ascent in the Blockchain AI arena is underscored by its sizeable market share, fostering an environment ripe for innovation and experimentation. North America’s well-established technological infrastructure serves as a launchpad for pioneering solutions, while Europe’s emphasis on regulatory frameworks and cross-industry partnerships nurtures sustainable growth.

Category-wise Insights:

The convergence of blockchain and AI has given rise to diverse applications across sectors. Financial services are embracing the transformative potential to enhance security, transparency, and efficiency. Healthcare is leveraging these technologies to revolutionize data sharing and patient care. Supply chains are optimizing operations through improved traceability and accountability. These applications collectively contribute to the global market’s remarkable growth.

In a world where innovation drives progress, the Blockchain AI market emerges as a pivotal force. With a projected valuation of US$ 3.5 billion by 2033, fueled by a CAGR of 22.9%, the market is poised to redefine industries and reshape the technological landscape.

Key Segments Covered in the Blockchain AI Market Report

By Component:

Blockchain AI Services

Blockchain AI Platform/Tools

By Deployment Mode:

Cloud –based Blockchain AI

On-premises Blockchain AI

By Organization Size:

Blockchain AI for Large Enterprises

Blockchain AI for SMEs

By Technology:

ML-based Blockchain AI

NLP-based Blockchain AI

Context-Aware Computing-based Blockchain AI

Computer Vision-based Blockchain AI

By Vertical:

Blockchain AI for Telecom and IT

Blockchain AI for BFSI

Blockchain AI for Healthcare and Life Sciences

Blockchain AI for Manufacturing

Blockchain AI for Media and Entertainment

Blockchain AI for Automotive

Blockchain AI for Other Verticals

By Application:

Blockchain AI for Smart Contracts

Blockchain AI for Payment and Settlement

Blockchain AI for Data Security

Blockchain AI for Data Sharing/Communication

Blockchain AI for Asset Tracking and Management

Blockchain AI for Logistics and Supply Chain Management

Blockchain AI for Business Process Optimization

Blockchain AI for Other Applications

By Region:

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

Flight Data Monitoring and Analysis Market Soars to New Heights: Surges to US$ 2.99 Billion by 2033

The Flight Data Monitoring and Analysis (FDMA) market, valued at US$ 1,265.7 million in 2022, is poised for significant growth, projected to expand at a CAGR of 8.5%. By 2033, it is anticipated to reach US$ 2,991.2 million, showing robust market dynamics.

Several factors are contributing to this growth, including the soaring need for situational awareness, a surge in aircraft deliveries, the exponential growth in data generated by the aviation sector, the proliferation of commercial aircraft, and the deployment of military aircraft for defense equipment transportation.

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Key Takeaways

The global FDMA market is set to reach US$ 2,991.2 million by 2033, with a CAGR of 8.5%.

Increasing demand for situational awareness and aircraft deliveries fuels market growth.

FDMA enhances air traffic control procedures and flight crew performance, contributing to safety.

Regional variations in FDMA adoption create opportunities and challenges for market players.

Efficient data management and security remain critical concerns for market advancement.

Drivers and Opportunities

The FDMA market’s growth is driven by its pivotal role in enhancing air traffic control procedures and flight crew performance. By proactively detecting operational flaws in aircraft operations, FDMA enables corrective and preventive measures to be taken, thereby mitigating the risk of major accidents. This technology is seamlessly integrated into the safety management systems of aircraft operators, ensuring enhanced safety and efficiency.

Notably, the perception and adoption of FDMA vary across different global regions, making regional trends a significant driver for the market. The collection of flight data generates substantial volumes of information, necessitating specialized analysis software. Manufacturers offer Flight Data Monitoring as a tailored service, encompassing data handling, validation, user-friendly reporting, and comprehensive evaluation details for operators.

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Competitive Landscape-Regional Trends

The competitive landscape of the FDMA market is shaped by regional nuances in the adoption of flight data monitoring and analysis solutions. Market players are focusing on customization to meet the diverse requirements of operators, including data handling, validation, and reporting. The ability to address regional variations in the perception and implementation of FDMA will be a critical factor for industry leaders striving to maintain a competitive edge.

Restraints

Despite the significant growth prospects, the FDMA market faces some constraints. The sheer volume of data generated necessitates efficient data management and analysis capabilities. Additionally, ensuring data security and privacy compliance remains a challenge, particularly in the context of sensitive military data. Overcoming these hurdles will be crucial for sustained market growth.

Region-wise Insights – Category-wise Insights

The adoption of FDMA technology varies across regions, with North America and Europe leading in terms of implementation. In contrast, Asia-Pacific is witnessing rapid growth, driven by increased aviation activities. By category, commercial aircraft represent the largest segment, owing to their extensive use in civil aviation. The military aircraft category is also on the rise, with the utilization of FDMA for defense equipment transport.

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Key Segments Covered in the Flight Data Monitoring and Analysis Market Study

By Aircraft Type:

Fixed Wing

Rotary Type

By End Use Vertical:

Civil

Military

By Region:

North America

Europe

Asia Pacific

Middle East and Africa

South America

Identity Verification Market Surges: Projected $38.5B Valuation by 2033, Driven by Innovations and Security Demands

The global identity verification market is predicted to expand at a CAGR of 13.2% over the course of the forecast period, according to FMI. Market value for the sector is anticipated to increase from $11.1 billion in 2023 to $38.5 billion by the end of 2033.

Increased legislation and the requirement that businesses operate in accordance with industry standards assist the identity verification industry. It is anticipated that market participants will have profitable expansion prospects, particularly in the banking sector. Additionally, the growing enterprise mobility and Bring Your Own Device (BYOD) trends are probably going to speed up market growth even more.

Use of advanced identity verification systems, such as incredibly powerful mobile devices with sophisticated cameras, GPS capabilities, and microphones, has increased self-service identity verification to offer multi-factor authentication in many forms. Because of its distinguishing characteristics, the inclusion of biometrics in digital identification provides enhanced attribution to a person. As a result, because the means of acquisition are strictly regulated, it is less vulnerable to imitation.

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To capitalise on this thriving market, key organisations are building mobile applications and Software Development Kits (SDKs). Document verification tests, such as nodding and blinking, allow driving licences and passports to be recognised and verified. Furthermore, leading players in the identity verification sector are constantly investing in R&D projects and releasing new technologies to combat security and cyber-attacks.

Key Highlights of the Identity Verification Industry: 

The United States is projected to be a significant identity verification market over the projected period as well. The market is estimated to attain US$ 12.4 billion by 2033, expanding at a CAGR of 13% over the coming years.

Within Asia Pacific, China is expected to be a dominant market. The China market is assessed to reach US$ 3.1 billion by 2033, registering a CAGR of 12.6%. Rising governmental efforts to avoid identity fraud and invigoration of e-KYC are pushing market expansion.

In the Europe region, Germany is projected to drive significant market growth.  Germany��s identity verification industry is projected to attain US$ 2.7 billion by 2033. The market is expected to exhibit a CAGR of 11.7% in the next 10 years. The demand for identity verification services is projected to surge due to the establishment of smart infrastructure, smart cities, and digital driver’s licenses in the region.

Based on organization size, large enterprises are projected to dominate the marketplace over the forecast period. The segment is expected to display a 12.6% CAGR in the forecast period, rising from the 9.8% CAGR observed in the historical period.

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Latest Market Developments in the Market:

In November 2020, LexisNexis Risk Solutions introduced LexisNexis Fraud Intelligence. This tool assists businesses to mitigate the risk associated with account opening. This solution helps enterprises in reducing the new account fraud risk by clubbing identity events and consumer application activity to develop a robust and comprehensive score that delivers a broad picture of identity proof.

Financial Action Task Force (FATA) increased the scope of reporting entities in 2021, and motivated member countries to compel virtual asset dealers, legal professionals, and art dealers to perform anti-money laundering screening on their clients.

In November 2021, Experian Information Solutions, Inc. introduced Work Report, which is an automated verification solution that permits users to consent to reveal their payment details to another organization digitally. The solution links to an employer’s payroll information in a matter of seconds to check a consumer’s gross and net income, status, and job tenure.

Key Segments Covered in the Identity Verification Industry Analysis

By Component:

Solutions

Services

By Deployment Mode:

On-premises

Cloud

By Type:

Biometrics

Non-biometrics

By Organization Size:

SMEs

Large Enterprises

By Vertical:

BFSI

Government and Defense

Healthcare & Life Sciences

Retail and eCommerce

IT & ITeS

Energy and Utilities

Education

Travel

Gaming

Others

By Region:

North America

Latin America

Europe

Asia Pacific

The Middle East and Africa

Global Facial Recognition Market Set to Soar, Expected to Reach US$ 25.4 Billion by 2033

A recent FMI analysis projects that the facial recognition market would develop at a compound annual growth rate (CAGR) of 16.1%, from US$ 5.7 billion in 2023 to US$ 25.4 billion by 2033. According to this survey, increased government spending on the contemporary CCTV cameras that are deployed in most public spaces to prevent crime and terrorist attacks and to enhance public safety is what is propelling the growth of the facial recognition sector.

The need for face detection systems to increase safety and security, along with the rise of applications in physical security and intelligent signs, are expected to fuel the growth of the worldwide facial recognition market during the course of the forecast period. Predictions from the poll indicate that technology advancements such as cloud-based

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The gradual rise in use cases following the COVID-19 pandemic is another factor that has benefited the market’s requirement for facial recognition. Additionally, these devices are being used by healthcare institutions all around the world to do thermal camera inspections.

Key Takeaways from the Market Study

Global Facial Recognition market to be valued at US$ 5.2 Bn by 2022-end

By Component, Software Tools Segment expanded at a CAGR of 16.8% until 2021

Law Enforcement applications ruled the Facial Recognition market with a CAGR of 16.7% until 2021.

China to account for the highest value share of US$ 1.6 Bn of global market demand for the Facial Recognition market in 2032.

Competitive Landscape

Players in the global Facial Recognition market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In March 2022, Aware, a biometrics software and services company, partnered with MIRACL to expand its cloud-based biometric authentication technology. The partnership is a mutual reseller arrangement whereby each company can both sell each other’s products and integrate them within their own product lines, quickly bringing to market password-free login paradigms delivering superior security and simplicity for users.

In March 2022, SALTO’s acquisition of Cognitec Systems initiates a strong partnership of business synergy and innovation. This acquisition is expected to meet market requests for adding face recognition and artificial intelligence technologies to the company’s renowned electronic access control and ticketing solutions. In addition, both companies appreciate a similar innovative work environment and corporate culture.

More Insights on the Facial Recognition Market

Future Market Insights offers an unbiased analysis of the global facial recognition market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the facial recognition market, the market is segmented on the basis of component type, application, and vertical across five major regions.

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Key Segments Covered in the Facial Recognition Industry Report

Facial Recognition by Component

Facial Recognition Software Tools

2D Facial Recognition

3D Facial Recognition

Facial Analytics

Facial Recognition Services

Training and Consulting

Cloud Based Facial Recognition

Facial Recognition by Vertical

Facial Recognition in Banking

Facial Recognition in Retail & E-Commerce

Facial Recognition in Automotive

Facial Recognition in Healthcare

Facial Recognition in Government & Defence

Facial Recognition for Other Verticals

Facial Recognition by Application

Facial Recognition for Law Enforcement

Facial Recognition for Access Control

Facial Recognition for Emotion Recognition

Facial Recognition for Attendance Tracking and Monitoring

Facial Recognition for Other Applications

Revolutionizing Industries: 3D Printing Materials Market Set to Surge to US$ 6.6 Billion by 2033

The market for 3D printing materials is anticipated to reach an estimated value of US$ 6.6 billion by 2033, up from US$ 1.8 billion in 2023, and grow at a compound annual growth rate of 14.2% between 2023 and 2033.

During the projection period, it is expected that the market for 3D printing materials will grow at an astounding 14.2% CAGR. Worldwide sales of 3D printers are being driven by the quick uptake of technologically superior production equipment across numerous industries, which is anticipated to expand the market in the upcoming years.

Raw materials used for 3D printing include plastics, ABS, PLA, metals & powders, carbon fibers, and resins. The market is being supported by the growing trend of using 3D printers to produce a range of small and large products.

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Additionally, the market is anticipated to develop as 3D printing is increasingly used in the building and construction industry. Additionally, it is projected that the rise of the automotive, aerospace, electronics, and medical industries will continue to be a major growth driver of the global market for 3D printing materials.

North America is anticipated to continue to be a lucrative region in the global market for 3D printing materials, according to FMI. The rapid commercialization of cutting-edge technology like 3D printing across a variety of businesses in the area is responsible for the growth.

Key Takeaways:

By material type, sales in the metal segment are forecast to grow at a 14.9% CAGR over the assessment period.

Based on form, demand for powder 3D printing materials is projected to increase at a 13.5% CAGR through 2031.

In terms of applications, sales in the automotive sector are forecast to gain traction at a 13.6% CAGR over the forecast period.

The U.S. will emerge as a lucrative pocket in the North American 3D printing materials market.

Sales in the China 3D printing materials market are projected to increase at a 15.2% CAGR through 2031.

Competition Landscape

Key market participants in the global 3D printing materials market elaborated in the report include Covestro AG, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc.

Key market participants are focusing on the development of innovative 3D printing products to improve their product portfolios. Besides this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.

For instance:

In April 2021, Sandvik and its subsidiary BEAMIT Group announced a new capacity for additive manufacturing components in super-duplex stainless steel, an alloy that combines mechanical strength with extremely high corrosion resistance.

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3D printing materials Market By Category

By Material Type:

Plastics

Metals

Ceramics

Others

By Form:

Filament

Powder

Liquid

By Application:

Electronics & Consumers

Automotive

Medical

Industrial

Education

Aerospace

Others

Behavioral Biometrics Market Surges: Reaching US$ 13 Billion by 2033, Driven by Unprecedented Growth

The behavioural biometrics market is projected to generate revenues of US$ 1,254.7 million in 2022 and US$ 1,533.2 million in 2023, according to Future Industry Insights (FMI). With a CAGR of 23.8% from 2023 to 2033, the worldwide market is anticipated to be worth US$ 13,001.4 million by that year.

As the behavioural biometrics business expands, the leaders in the sector will face more competition. In 2022, the top five suppliers will hold a 55.0% share of the market, according to FMI.

Behavioural biometrics solutions have opportunities to grow as a result of ongoing development and the implementation of new technologies/software, including advanced behavioural biometrics innovations, human behavioural patterns, and machine learning/deep learning for identity identification and validation, preventing fraud, and multiple-factor authorization applications.

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Behavioral?biometrics are being used in a variety of businesses with a digital presence and are positioned to play an important role in increasing digital trust and safety. For financial institutions, digital banking is one of the most successful platforms for driving growth, attracting new clients, and increasing income.

Behavioral?biometrics has a number of applications in the banking industry, including account opening safeguards, account takeover security, and social engineering fraud detection, among others. The dependability of behavioral biometrics and?biometrics technologies will drive their use in the BFSI industry.

Key Takeaways

South Asia is expected to develop rapidly in the market, with a CAGR of over 35% from 2023 to 2033.

According to Future Market Insight, the top 15 firms presently account for about 55%-60% of the market share in 2023.

Demand for banking, financial services, and insurance (BFSI) is expected to rise at a 28% CAGR throughout the projection period.

The market increased at a CAGR of 21.7% over the previous five years

According to the analysis, the United States will account for roughly 18.5% of the North American market by 2033.

“The expansion of real-time transaction and mobile banking systems in the country has increased fraud,?fueling?the demand for?behavioral?biometrics. Furthermore, financial solution suppliers in the South Asia & Pacific area are working on providing their clients with safe verification solutions based on sophisticated?behavioral?biometrics technology,” says the FMI analyst. 

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Competitive Landscape

BioCatch, a worldwide leader in?behavioral?biometric intelligence and sophisticated fraud prevention technologies, opened its Australian headquarters on February 8, 2023. Furthermore, the corporation reinforces its worldwide leadership position by establishing operations throughout Asia-Pacific, with branches in Australia and Singapore.

According to a report released in?May 2023, Amsterdam-based ThreatFabric obtained €11.5 million (roughly US$12.55 million) in an initial fundraising round, with aspirations to broaden its?behavioral?biometrics and safeguard?against fraud capabilities.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Behavioral Biometrics market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights by Solution (Software, Services), Application (Identity Verification & Validation, Fraud Prevention, Multi-factor Authentication), Enterprise Size (SMEs, Large enterprises), Industry (BFSI, Retail and eCommerce, Healthcare, IT & Telecom, Government and Defense) & Region.

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Behavioral Biometrics Market Outlook by Category

By Solution:

Behavioral Biometrics Software

Cloud-Based

On-Premise

Services

Consulting Services

Implementation Services

Support & Maintenance

Managed Services

By Application:

Identity Verification & Validation

Fraud Prevention

Multi-factor Authentication

Others

By Enterprise Size:

Small and Medium-sized Enterprises (SMEs)

Large Enterprises

By Industry:

Banking, Financial Services, and Insurance (BFSI)

Retail and E-commerce

Healthcare

IT & Telecom

Government and Defense

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia

Oceania

Middle East and Africa

Regulatory Reporting Solutions Market: Projected to Surpass US$ 5.2 Billion by 2023, Driven by Industry Growth and Compliance Demands

The global regulatory reporting solutions market is expected to create lucrative growth opportunities over the projection period by registering a CAGR of 14.9% from 2023 to 2033. The global market is estimated to reach US$ 5.2 Billion by 2023 and is projected to grow by US$ 21.0 Billion by 2033.

The global market for regulatory reporting systems grew at a compound annual growth rate (CAGR) of 10.2% between 2018 and 2022, according to Future Market Insights’ historical data. Regulatory reporting solutions are being embraced by banks and other financial institutions in order to automate KYC data gathering methods, as well as to analyse and identify relevant regulations and changes associated with them over time.

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Furthermore, it makes it perfect for various types of regulatory reports such as financial reports, prudential reports, statistical reports, transactional reports, granular reports, and other various types of reports as per jurisdiction. Cloud-based regulatory reporting software, insurance companies, and cross-regulation banks comply with global regulatory requirements.

In order to follow the changing regulations, financial institutions are rapidly adopting new models and running them concurrently. Furthermore, financial institutions seek new technologies that aid them to track, manage, and trace the liquidity risk and regulatory reporting data and also to better understand the crisis impact on the balance sheet and financial liquidity.

Additionally, adequate technology and solutions help banks and financial institutions to smoothly navigate regulatory reporting and financial liquidity issues. Companies are reducing regulatory costs by utilizing third-party regulatory reporting services.

Key Takeaways

The increasing number of fraudulent activities has resulted in the development of RegTech (Regulatory Technology) solutions for efficient regulatory reporting. Furthermore, the implementation of these solutions assists in a significant reduction of compliance costs and improves efficiency.

RegTech is also responsible for speeding up the business processes, enhancing their reliability, and reducing hassle for customers and the risk of compliance failures. In addition to that, regulatory reporting comprises several components such as financial reporting, transactional reporting, prudential reporting, granular reporting, statistical reporting, and others.

In order to go through hassle-free reporting for humongous transactions of financial institutions, RegTech solutions have witnessed a significant rise in demand. These solutions include transaction monitoring, regulatory intelligence risk, and compliance management among others.

Customers are capable of choosing an appropriate RegTech solution depending on their performance attributing to the presence of a huge variety of solutions in the market. Furthermore, individual transactions in financial institutions are propelling at an exponential rate.

Regulatory reporting has rapidly become an important part of many countries all over the globe. The demand for faster and at the same time, accurate regulatory reporting such as financial performance, strategies and practices, and accounting policies requires an automated registry of regulatory reporting per transaction.

RegTech solution creates a need for a solution that comprises its own guidelines following regulations of government as well as institutions. AI is expected to enjoy broad adoption all over risk and compliance and regulatory reporting.

Numerous financial institutions utilize AI as a regulatory reporting solution. It is excessively viewed as a standard statistical toolkit for institutions, which allows them to rapidly add sophisticated data management capabilities according to regulations and policies. Moreover, this new tool may create organizational challenges that are much larger and more complex than spreadsheet environments.

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Competitive Landscape

Regulatory reporting solutions market players are focusing on several effective strategies for increasing their investments in research and development to support future technologies. In addition, several companies are acquiring and entering into a partnership with other companies to develop their own regulatory reporting solutions to serve their customers and reduce the churn rate.

Key Companies Profiled are Moody’s Analytics Wolters Kluwer Regnology Oracle SS&C Technologies Saude Labs Vermeg Workviva Prima Solutions Matterhorn Reporting Services Sopra Banking Software Sovos Compaliance Bloomberg Fintelix Smart Stram Technologies

More Insights into the Regulatory Reporting Solutions Market

The European region is anticipated to dominate the global regulatory reporting solutions market over the assessment period. According to the valuations, the United Kingdom regulatory reporting solutions are predicted to propel by 5.7X throughout the projection period.

The North American region is anticipated to create promising growth opportunities over the forecast period by accounting for nearly 84.1% of the North American market share through 2033.

Regulatory Reporting Solutions Outlook by Category

By Solution, Regulatory Reporting Solutions Demand is segmented as:

Regulatory Reporting Software

Cloud-based

On-premises

Services

Managed Services

Professional Services

By Industry, Regulatory Reporting Solutions Outlook is segmented as:

Banks

Insurance

Wealth & Asset Management

Securities & Investments

By Region, Regulatory Reporting Solutions Sales is segmented as:

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle East & Africa

FIDO Authentication Industry Hits $1.24 Billion in 2023, Set to Soar to $12.06 Billion by 2033

The FIDO Authentication Market has witnessed remarkable growth, with the total revenue reaching US$ 1,238.6 million in 2022. This impressive growth trajectory is projected to continue, with the market expected to surge to US$ 12,059.7 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 23.1% from 2023 to 2033.

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Drivers and Opportunities:

The market’s expansion is driven by several factors, including the increasing adoption of FIDO authentication solutions across various industries. The rising concerns over cybersecurity threats have prompted organizations to seek robust authentication methods, further fueling market growth. Additionally, the growing popularity of biometric authentication methods and the proliferation of mobile devices are providing lucrative opportunities for market players to innovate and expand their offerings.

Competitive Landscape – Regional Trends:

The FIDO Authentication Market is highly competitive, with key players constantly innovating to maintain their market position. Regional trends indicate that North America dominates the market, owing to a high concentration of tech-savvy enterprises and stringent security regulations. Europe follows closely behind, driven by increasing awareness of data security. Meanwhile, the Asia-Pacific region presents significant growth potential due to the rapid digitalization of economies and the need for robust authentication solutions.

Restraints:

Despite its rapid growth, the market faces certain limitations, including concerns related to user privacy and data protection. Striking a balance between stringent security measures and user convenience remains a challenge for market players. Moreover, the high initial costs associated with implementing FIDO authentication solutions may hinder adoption among smaller enterprises.

Region-wise Insights – Category-wise Insights:

Regionally, North America leads the FIDO Authentication Market, with a substantial share of the global market. Within categories, biometric authentication solutions are gaining prominence due to their accuracy and user-friendliness. Moreover, the healthcare and financial sectors are witnessing substantial adoption of FIDO authentication, driven by the need for secure access to sensitive data.

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Competitive Landscape

As organizations around the world are challenged in controlling dynamic and hybrid IT environment, the need for secure mobile or online applications without compromising user convenience is increasing continuously.

Owing to this, most of the leading players in the FIDO authentication technology are coming with advanced and innovative solutions that meets the ever-changing demand from organizations for advanced security and privacy concerns.

In January 2021, Aware, Inc. announced the launch of AwareABIS, an automated biometric identification system (ABIS) used for large-scale biometric identification and deduplication. Designed to serve among 1-30 million identities or more, AwareABIS supports fingerprint, face and iris modalities, and features a modular architecture that helps security teams configure and optimize the system for civil or criminal applications.

FIDO Authentication Outlook by Category

By Solution:

FIDO U2F Authentication Devices

FIDO Authentication SDKs

FIDO Client SDK

FIDO Server SDK

Services

Technology Consulting

Integration & Deployment

FIDO Certification Services

Support Services

By Application:

Payment Processing

PKI/Credential Management

Document Signing

User Authentication

Others

By Industry:

BFSI

Healthcare & Life Sciences

IT & Telecom

Retail & CPG

Government & Defense

Energy & Utilities

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle East and Africa

Unified Communication as a Service (UCaaS) Market Skyrockets to US$ 28.5 Billion in 2023, Set to Reach US$ 112.6 Billion by 2033

The Unified Communication as a Service (UCaaS) market revenue totaled US$ 28.5 Billion in 2023, according to Future Market Insights (FMI) analysis. Rising at a CAGR of 14.7% between 2023 and 2033, the overall market is expected to reach US$ 112.6 Billion by 2033.

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The demand for UCaaS solutions will accelerate with top 5 providers holding around 36.5% of total market in 2020.

Newly released data on the UCaaS demand outlook indicates 12.8% y-o-y growth in 2021. Among industry vertical, share held by BFSI sector will remain highest among all. However, the IT & telecom segment will grow at 18.1% CAGR through the assessment period.

COVID-19 Impact Analysis on UCaaS Market

The outbreak of coronavirus (COVID-19) has created the need for organizations to adapt today’s fast-paced world where the business continuity is a must. The outbreak of COVID-19 pandemic is marking a rare occasion where business leaders globally have to quickly enable their workforces to work remotely for an extensive period of time.

Owing to this factor, organizations are incorporating remote work into their businesses where the communication and remote work policy holds the key to meet the expectation between management and workforce.

According to Future Market Insights, the COVID-19 pandemic is expected to accelerate the adoption of cloud computing not just as a technological shift, but also as an operating model as enterprises across the globe acknowledges the limitations of their current situation.

​Key Takeaways: UCaaS Market

By solution segment, the integrated UCaaS platform/suite is anticipated to account for the leading share in the global UCaaS market during the forecast period. The segment estimated to grow at a robust CAGR of 17.3% through 2031. The demand for UCaaS in small and medium enterprises (SMEs) is expected to rise at maximum pace as these organizations continue adopting UCaaS and cloud based solutions for better ROI. Demand for UCaaS in IT & Telecom and BFSI sector is estimated to grow at an impressive CAGR. Of these, BFSI industry is expected to account for leading share in UCaaS market during the forecast period. North America is expected to lead the market followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031. The market in Japan is expected to progress at a CAGR of more than 17% through 2031. In the U.K., sales are expected to increase at a CAGR of close to 18% over the next ten years.

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Competitive Landscape

Intense competition and growing customer expectations are creating a storm in the global UCaaS market which is compelling solution providers to innovate and improve customer engagement. The accelerated shift by the customers to cloud communication is creating a demand for enhanced user productivity and flexibility and is creating the opportunities for advanced communications and collaboration tools.

For instance, in May 2021, 8×8, Inc. announced Experience Communications as a Service (XCaaS), a cloud communications deployment model that erases the boundary between Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS). With XCaaS, organizations can support the communications requirements of all employees as they work together to deliver differentiated customer experiences.

Some of the leading companies operating in the market are:

8×8 Inc. Cisco Systems, Inc. Google LLC Microsoft Corporation LogMeIn Inc. RingCentral, Inc. Mitel Networks Corporation Fuze Inc. Windstream Holdings, Inc. ALE International DIALPAD, INC. Verizon Communications Inc. NTT Communications Corporation

UCaaS Outlook by Category

By Solution, UCaaS Solutions are segmented as:

Software

Integrated UCaaS Platform/Suite

Standalone Solutions

Services

Professional Services

Managed Services

By Enterprise Size, UCaaS Outlook is segmented as:

Small and Medium Enterprises (SMEs)

Large Enterprises

By Vertical, UCaaS Demand is segmented as:

BFSI

IT & Telecom

Healthcare

Retail & CPG

Travel & Hospitality

Transportation & Logistics

Military & Defense

Others

Access Control Market Surges: Expects Robust Growth at 12.4% CAGR, Projected to Reach US$ 61.31 Billion by 2033

The Access Control Market is poised for robust growth, with a projected Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period. In 2023, the market is expected to reach a valuation of US$ 19.05 billion, with predictions indicating a significant expansion to surpass US$ 61.31 billion by 2033.

The adoption of access control systems in various industry verticals is expected to propel the market. Information and data security is becoming a top priority for industrial organizations to secure their information and other digital assets from threats.

The latter goal largely depends on guaranteeing safety for visitors, plant managers, workers, and more. The growing necessity of integrated access control solutions to create secure environments across industrial areas that layer several technologies in conjunction with contingency plans for human and asset protection will drive demand.

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Key Takeaways:

The Access Control Market is expected to grow at a CAGR of 12.4% and reach a valuation of US$ 61.31 billion by 2033.

Key drivers include the expanding corporate landscape, automation, and cost-saving measures.

Access control systems offer benefits such as visitor tracking, data breach prevention, and enhanced security.

Challenges include dynamically managing distributed IT environments and resource-intensive implementations.

North America and Europe lead in adoption, while the Asia-Pacific region shows substantial growth potential.

Role-Based Access Control (RBAC) systems are gaining prominence in access control solutions.

Drivers and Opportunities:

The research report on the Access Control Market highlights several key drivers behind this remarkable growth. An expanding corporate landscape, increased automation, and a focus on cost savings have led organizations to embrace access control systems. These systems offer a multitude of benefits, including visitor tracking, protection against data breaches, and the creation of safe working environments. Enhanced security measures encompass a variety of methods, from traditional usernames and passwords to advanced biometric scans and security tokens.

As companies adopt multi-layered security protocols, new brands are emerging to provide customized, limited access to sensitive information and resources. This added layer of security not only safeguards data but also streamlines administrative processes. Organizations are increasingly turning to hybrid and multi-cloud environments, further fueling the demand for robust access control solutions. Key types of access control include Mandatory Access Control (MAC), Discretionary Access Control (DAC), Attribute-Based Access Control, and Role-Based Access Control.

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Competitive Landscape – Regional Trends:

The competitive landscape in the Access Control Market is evolving as regional trends take center stage. One of the primary challenges facing organizations is the dynamic management of distributed IT environments. To address this, integrated access solutions that encompass reporting and monitoring applications, provisioning tools, identity repositories, and enhanced security policies are gaining traction. Data governance and visibility through consistent reporting have become essential, particularly in dispersed IT environments.

Restraints:

Despite its impressive growth, the Access Control Market faces certain restraints. The complex task of dynamically managing distributed IT environments can present hurdles for organizations. Additionally, the implementation of advanced access control systems can be resource-intensive and require significant investments in infrastructure and technology.

Region-wise Insights – Category-wise Insights:

Region-wise insights reveal that North America and Europe are currently leading the way in the adoption of access control systems, owing to their advanced technological infrastructure. However, the Asia-Pacific region is anticipated to witness substantial growth, driven by a burgeoning corporate sector and increasing awareness of data security.

Category-wise insights highlight the growing demand for integrated access solutions that provide comprehensive security measures. Role-Based Access Control (RBAC) systems are gaining prominence as organizations seek more granular control over user permissions and access rights.

Key Segments

By Component:

Hardware

Fingerprint Scanners

Facial Recognition Devices

Iris Scanners

Smart Cards

Others

Software

Integrated Access Control Software

Standalone Software/Middleware

Facial Recognition Software

Iris Recognition Software

Others

Services

Professional Services

System Integration & Installation

Security Consulting

Support & Maintenance

Managed Services

By System Type:

Fingerprint Access Control Systems

Face Recognition Access Control Systems

Iris Recognition Access Control Systems

Card-Based Access Control Systems

Others

By Industry:

IT & Telecom

BFSI

Military & Defense

Manufacturing

Healthcare

Transportation & Logistics

Government

Education

Others

Head-Mounted Display Market Projected to Surge at 25.9% CAGR, Anticipated to Reach US$ 151.29 Billion by 2033

The Head Mounted Display (HMD) Market is poised to undergo a remarkable transformation between 2023 and 2033, with a projected Compound Annual Growth Rate (CAGR) of 25.9%. Starting at US$ 15.12 billion in 2023, the market is expected to surge to a staggering US$ 151.29 billion by 2033.Request Sample of This Report:https://www.futuremarketinsights.com/reports/sample/rep-gb-73Key Figures:Anticipated CAGR: 25.9%2023 Market Value: US$ 15.12 billion2033 Market Value: US$ 151.29 billionDrivers and Opportunities: The burgeoning demand for head-mounted displays can be attributed to the gaming industry’s insatiable appetite for Augmented Reality/Virtual Reality (AR/VR) technologies. Moreover, the declining prices of micro-displays are poised to fuel market growth further. The rising necessity for mobile-based AR solutions is expected to be a key growth catalyst in the coming years.Furthermore, the surge in consumer demand for head-mounted equipment is primarily driven by advancements in display technology, enabling users to experience features such as immersive 3D viewing and high-resolution displays. The controlled demand from the defense sector and the increasing adoption in medical settings are expected to contribute significantly to the revenue growth of the head-mounted device market during the forecasted period. Notably, HMDs are finding increasing applications in medical contexts, facilitating various surgeries and dental procedures. Additionally, their utilization in virtual automobile design and cloud computing for automotive prototyping presents promising avenues for growth in the head-mounted display market.Competitive Landscape – Regional Trends: The Head Mounted Display market landscape is characterized by intense competition, with key players vying for dominance across regions. North America, with its robust technological infrastructure and early adoption of AR/VR technologies, remains a lucrative hub for market players. Europe is also witnessing substantial growth, driven by expanding applications in healthcare and automotive sectors. The Asia-Pacific region, particularly China and Japan, is emerging as a key market, riding on the back of its vast consumer base and rapid industrialization.Restraints: Despite the impressive growth prospects, the head-mounted display market faces some challenges. Technical limitations, such as weight and discomfort, continue to hinder mass adoption. Additionally, concerns related to data privacy and cybersecurity in AR/VR applications pose potential risks.Request Report Methodology:https://www.futuremarketinsights.com/request-report-methodology/rep-gb-73Region-wise Insights – Category-wise Insights:North America: Dominates the market, driven by strong investments in AR/VR technologies, primarily in the gaming and entertainment sectors.Europe: Experiencing steady growth, with the healthcare and automotive industries adopting HMDs for training and design purposes.Asia-Pacific: Shows immense potential, with China and Japan at the forefront of AR/VR adoption, not only in entertainment but also in education and healthcare.Rest of the World: Witnessing gradual growth, with select countries exploring applications in defense and industrial training.Who is Winning?Market participants have been concentrating on developments. As businesses strive for a competitive advantage, spending on research and development will keep rising. Microsoft Corporation, Google, Samsung, BAE Systems, Elbit Systems, Huawei Technologies, HTC Corporation, Sony Corporation, LG Electronics, Thales Visionix, Inc., Xiaomi, and Avegant Corp. are a few of the top companies active in the market.Key Segments Covered of the Head Mounted Display MarketProduct TypeHead MountedEyewearHMD TypeDiscrete HMDIntegrated HMDSlide-on HMDApplicationGaming, Media,& EntertainmentAerospace, and DefenseHealthcare and Medical DevicesEngineering & Industry ApplicationsEducationOthersRegionNorth AmericaLatin AmericaEuropeEast AsiaSouth Asia& PacificMiddle East & Africa (MEA)

Virtual Machine Market Soars, Anticipated to Hit US$ 177.3 Billion Valuation by 2033

The worldwide virtual machine industry is expected to reach a valuation of US$177.3 billion by 2033. The demand for virtual machine systems and solutions has surged due to the widespread use of cloud computing technologies and increasingly demanding applications by organisations worldwide. Organisations can also save money and effort by using virtual machines.

Cloud computing enables the rapid deployment of several instances of the same virtual machine to better handle traffic spikes. Cloud computing technology offers virtual machines (VMs) more affordable, highly scalable, and reliable infrastructure. Cloud virtual machines (VMs) may meet the most stringent computing needs of companies. Increasing and decreasing computer capacity in line with company needs is made simple by technology.

Key Takeaways: Virtual Machine Market

Exponential growth is expected as FMI forecasts the market to exhibit 19.7% CAGR between 2021 and 2022

Backed by strong network infrastructure, the U.S. will account for over 80% sales in North America

Rising digitization will enable the U.K. to exhibit a remarkable 27.5% Y-o-Y growth in 2021

FMI forecasts both Germany and France to exhibit double-digit growth in the Europe virtual machine market

China will remain dominant in East Asia, followed by Japan and South Korea

COVID-19 Impact Analysis on virtual machine Market

The widespread impact of novel coronavirus pandemic continues to impact every organization — large or small — their employees, and the customers they serve. The spread of a pandemic has rapidly increased the use of new and existing technologies. As consumers continue to lock down, millions of people are forced to adopt work from home policies, which has resulted in increasing demand for cloud computing technologies.

The closure of physical workspaces and transportation networks has forced many businesses and public bodies to adopt virtual technologies. For some individuals, working from home is as simple as taking their laptops home, but others may have specialized PCs and high configured machines that are not as easy to transport back and forth between a home office and workplace.

As a result, over the past few months VM vendors have witnessed the acceleration of VM and cloud computing technologies sales. The market has shown significant growth during the pandemic, it has grown by nearly 3% — 5% in Q1-Q3 2020. However, the market is expected to become streamline by the end of 2021.

Growing Adoption of Cloud VMs in Organization

The adoption of VMs is increasing in organization as employees can have access to multiple VMs and their data from multiple devices at the same time. This increases productivity by allowing employees to access necessary data from anywhere. The adoption of VMs also reduces the down time that IT departments needs to manually install new software or update software, and helps increase the productivity of IT staff as they can focus on other important task.

Who is Winning?

To meet the unprecedented demand for VMs from consumers, VM vendors are taking huge efforts to build advance computing VMs with high storage capacity and processing powers. Cloud VM offers the ability to use on-demand VM services to achieve cost efficiency and business continuity and enable organizations to rapidly accelerate their digital business transformation plans. The increased use of VM services amid COVID-19 pandemic has accelerated growth of the VM market.

Some of the leading players operating in the market are Microsoft Corporation, VMware, Inc., Amazon Web Services, Inc., Google, IBM Corporation, Oracle Corporation, Alibaba Group, Hewlett Packard Enterprise, Citrix, Huawei Technologies, Proxmox Server Solutions GmbH, Parallels Inc.

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Key Segments Covered of the Virtual Machine Market

Type

Process/Application Virtual Machines

System Virtual Machines

Platform

Windows

Mac

Linux

Others

Enterprise Size

Small & Medium Enterprises (SMEs)

Large Enterprises

Industry

BFSI

IT & Telecom

Retail

Healthcare

Manufacturing

Government

Others

Region

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle East & Africa (MEA)

Rapid Surge Projected: Communications Platform as a Service (CPaaS) Market to Reach US$120.996 Billion by 2034

The global Communications Platform as a Service (CPaaS) market exhibited robust growth in 2021, with total revenue reaching approximately US$ 5,296.6 million. This growth trajectory is projected to continue, as the CPaaS market is expected to soar to an estimated US$ 59,362.1 million by 2032, marking a staggering CAGR of 25.0% during the forecast period of 2022-2032.

Communications platform as a service or CPaaS solutions are referred to as cloud solutions which enable organizations to add real-time communication features onto business applications. These solutions are adaptable, scalable, and unite latest integrated communication services into a single offering.

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Communications platform as a service brings together several types of communications, including calls, emails, and SMS for enhanced customer engagement. Emergence of omni channel methods for customer management is set to increase the demand for CPaaS solutions in the banking and financial sector. Insurance firms, banks, and payment providers require a secure platform for providing rapid and dependable services to customers while preventing fraud. CPaaS solutions have proved to be a secure real-time communication platform across the BFSI industry.

CPaaS solutions are becoming more popular, especially in the banking sector as these provide personalized offerings. CPaaS services, on the other hand, deliver onboarding features and text reminders to customers, thereby reducing delinquency risk with compliance and security.

Furthermore, implementation of CPaaS solutions results in the early fraud detection with outbound IVR facility. These facilities come along with additional options for immediate transfer to agents offering secure environments to customers for financial transactions. Such wide adoption is opening new opportunities for key players in the CPaaS market.

Key Takeaways: Communications Platform as a Service Market

By solution, the CPaaS software segment is predicted to lead the global communications platform as a service market with a CAGR of 2% during the forecast period.

By enterprise size, the large enterprises segment is set to dominate with a CAGR of nearly 23% between 2022 and 2032.

By industry, the healthcare segment is anticipated to exhibit an astonishing CAGR of 31% in the forthcoming years.

By geography, North America had the largest market share of about 2% in the CPaaS industry in 2021.

The South Asia & Pacific region is expected to witness the highest growth rate of around 7% throughout the forecast period of 2022-2032.

“Growing demand for customer communication and customer engagement across the BFSI and retail industries is expected to drive the global communications platform as a service market growth,” says a FMI analyst.

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Increasing Demand for CPaaS in Retail Industry to Drive the Market

Retail firms are utilizing CPaaS solutions to adapt to the hybrid environment of modern day purchase requirements. Large-scale retail and consumer enterprises with multiple locations add cloud-based call routing solutions to ensure accurate routing of calls and SMS depending on location, time, and need.

Several brick and mortar, as well as online merchants utilize CPaaS solutions as the preferred business software. Such software solutions can circulate customized information, initiate in-store event registrations, offer segmented discount codes, and send sales alerts. Also, the addition of SMS with voice to the communication strategy is ensuring increased footprint of products onto consumers.

Up-to-date and flexible real-time integrated communication services enable small- and large-scale retail business to embrace the rapidly evolving cloud communications market. Thus, increasing adoption in retail industry is fueling the market growth and is anticipated to continue its supremacy in the near future.

Communications Platform as a Service Outlook by Category

By Solution:

Communications Platform as a Service (CPaaS) Software

Services

Professional Services

Integration & Implementation

Consulting

Support & Maintenance

Managed Services

By Enterprise Size:

Small & Medium Enterprises (SMEs)

Large Enterprises

By Industry:

IT & Telecom

BFSI

Manufacturing

Healthcare

Retail & CPG

Others

By Region:

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle East and Africa (MEA)

Transformative Growth Forecasted for Visitor Management System Market: Market Size to Reach US$ 5,940.32 Million by 2033

The global visitor management system market is expected to reach a market value of US$ 1,393.9 million in 2023. This may push the market size to US$ 5,940.32 million in 2033. The overall market is expected to register a 15.6% CAGR.

Regulatory standards and security demands are growing, thereby anchoring the market outlook as fraud detection and other security measures are needed to protect companies. In addition to security threats, the increasing need for paperless administration, and the requirement for storing visitor data following regulatory requirements, the visitor management system market is expected to grow in the coming years.

A growth in organizations needs visitor management systems to track visitors’ actions, which is expected to drive the demand for visitor management systems. Technology and digital badges manage lobby security and safety. Visitors’ management systems are hard to deploy across multiple locations. Once installed, updating the solution at each site can be time-consuming. Therefore, licensing these solutions can also be challenging.

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“Automated visitor management systems offer enhanced security and a more professional appearance and meet compliance mandates for the collection and auditing of visitor data. Such factors are propelling the growth of the visitor management system market.” – says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The visitor management system market is expected to thrive at a CAGR of 15.6% over the forecast period.

It is estimated that the visitor management system market in North America may remain strong during the forecast period.

The visitor management system market in the United States is estimated to be valued at US$ 337.5 million in 2023.

China is predicted to record a CAGR of 16% and is estimated to be valued at US$ 134.5 million in 2023.

Visitor management software dominated the market in 2023, accounting for 53.5% of revenue; the segment’s market value is expected to reach US$ 734.4 million in 2023 with a 14.0% CAGR.

Competitive Landscape:

In order to deepen penetration across lucrative markets, some leading market players have adopted various expansion strategies. In addition, small-scale companies are merging and acquiring sizable companies to offer their products to a broader consumer base and to incorporate innovative products into their product portfolios. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening regional and global distribution networks.

Several prominent companies dominate this market, including HID Global, Greetly, piLOBI, The Receptionist, Ezy Signin, SwipedOn, Traction Guest, Envoy, Proxyclick, Vizitor, Inc., Teamgo Pty, ltd, Qbasis Pte Ltd, Veristream, and others.

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Recent Developments:

The enterprise visitor management solution offered by Envoy includes security, touchless sign-in, compliance, access control, and others.

Pitney Bowes introduced its new Cross-Border Services in July 2021 to small independent sellers and decent-sized online marketplaces. In this way, merchants of all sizes can grow their businesses and reach a wider audience around the world.

In June 2021, Honeywell announced the launch of Honeywell Sine Solution, enabling occupants to work more safely.

In November 2020, Traction Guest launched a return-to-work solution to assist businesses in safely bringing employees and visitors back on-site. In addition to streamlining employees’ and essential visitors’ return to physical work during a pandemic, the new solution mitigates compliance risks throughout the entire visit process.

The company has also entered into a partnership with Gemalto, which produces ID scanners capable of processing high volumes of visitors quickly and accurately.

In March 2020, HID Global launched its signature line of readers, HID Signo. The new readers simplify system deployment and management, meet the advanced security requirements of dynamic environments, and enable organizations to control access smarter and more remotely.

Visitor Management System Market Segmentation by Category

By Solution:

Visitor Management Software

Services

By Platform:

Web-based (Desktop App)

Mobile App

By End User:

Gated Communities

Corporate Offices

Healthcare Facilities

Hospitality

Academic Institutions

Real Estate Properties

Banks & Finances Institution

By Region:

North America

Latin America

Europe

The Middle East and Africa

East Asia

Massive Open Online Course Market Soars: Projections at US$ 48.4 Billion by 2033

The massive open online course market value is predicted to secure a valuation of US$ 10 billion in 2023 and is anticipated to grow at US$ 48.4 billion by 2033. The market is estimated at a CAGR of 16.2% during the forecast period.

The increasing demand for demo classes and professional and latest courses are increasing the adoption of massive open online course. The growing popularity of digital courses and the availability of numerous courses drive market expansion. Moreover, Students’ shifting interest towards e-learning and rising personalized courses are increasing the demand for massive open online course.

The increasing adoption of massive open online course due to effective results, productivity, and enhanced learning requirements propel the market size further. The availability of educational tools, including Google Meets, Microsoft Teams and Zoom, are advancing the market opportunities. In the COVID-19 crisis, due to social distancing, the students increased the demand for massive open online course, which significantly boosted the market growth.

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Artificial Intelligence and the Internet of Things Drive the Market Growth

Educational providers are bringing new technology into the education system to easy-to-learn through artificial intelligence and the Internet of Things. Online presence is a crucial factor nowadays in the educational sector. The increasing demand for visual reality and numerous personality-based courses drive the massive open online course market opportunities.

The educational tutors focus on delivering a better source of learning to the students. Conversely, these tutors attract students’ attention by providing discounts on quarterly and yearly courses. Teachers clear students’ doubts about the several educational tools on audio, video, and graphics, increasing the adoption of massive open online course.

How is the United States Market Significantly Expanding?

The United States is dominating the global market by securing a CAGR of 16% with an impressive valuation of US$ 15.9 billion during the foreseen time. The rising demand for postgraduate and professional courses among students is propelling the market growth in the United States. Government initiative plans, several universities and educational institutes in the United States are further advancing the market opportunities. The United States registered a CAGR of 10.7% from 2017 to 2022.

Key Takeaways:

The massive open online course market is expected to have a valuation of US$ 48.4 billion by 2033.

With a CAGR of 16.2%, the global market increasing from 2022 to 2033.

The United States’ massive open online course market is anticipated to witness a CAGR of 16% through 2033.

With a CAGR of 15.2%, the United Kingdom market significantly uplifts during the forecast period.

China market is expected to secure a CAGR of 15.5% over the forecast period.

Japan market is expected to capture a CAGR of 14.6% from 2023 to 2033.

Get More Information on this Report: https://www.futuremarketinsights.com/reports/massive-open-online-course-mooc-market

Competitive Landscape:

The present prominent players fragment the market. These players are improving the way of teaching through the digital learning process. They are focusing on up surging the level of education by providing graphic videos on a particular topic for the students. The strategies adopted by the key players are partnerships, agreements, mergers and collaborations.

Key Players in the Market are:

EDX

Udacity

Futurelearn

Edureka

Intellipaat

Iversity

LinkedIn

Pluralsight

Udemy

Xuetangx

Recent Developments:

In Nov 2022, the University of California, Riverside Extension and edX announced their collaboration to develop MOOC on the education platform edX. These companies focus on providing courses on world language, well-being, and mental health.

In 2020, the online education platform, Udacity announced its new extension to provide several topics courses such as web server, self-driving and iOS courses. The company’s main aim is to provide education on democratizing.

Request for Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12182

Massive Open Online Course Market by Category

By Component:

MOOC Platforms

XMOOC

CMOOC

MOOC Services

Consulting Services

Implementation Services Training & Support Services

By Course:

Humanities

Computer Science & Programming

Business Management

Science

Health & Medicine

Education & Training

Engineering

Others

By End Use:

High Schools

Under Graduates

Post Graduates

Corporates

By Region:

North America

Latin America

Europe

South Asia & Pacific

East Asia

The Middle East & Africa (MEA)