Day: August 9, 2021

Posted in Uncategorized

Heat Stress Monitor Market Competitive Landscape, Insights by Geography, and Growth Opportunity

Posted on by Devanshu Shrivastava

Heat stress monitors are being increasingly deployed in manufacturing facilities to track the health of workers being exposed to heated conditions. To ensure the health of workers, ministries/departments of labor of the U.S., Saudi Arabia, the U.K., India, Germany, Japan, Australia, and South Korea have set stringent guidelines regarding heat stress management at workplaces. For instance, the OSHA has set workplace safety standards and drafted workplace monitoring regulations to protect employees from being exposed to hazardous environments.

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In recent years, technological advancements in the domain of heat stress monitoring have led to the development of wearable monitoring equipment. For instance, Qatar Mobility Innovations Center (QMIC) offers innovative smart heat stress monitoring solutions to support occupational health and safety management efforts. These solutions run on a smart internet of things (IoT) platform and offer automated systems for monitoring the heat stress of workers in real-time.

The adoption of these solutions has enabled the protection of the workforce from heat-related ailments. Geographically, North America dominated the heat stress monitor market in the recent past, due to the presence of strong government guidelines regarding the safety of employees being exposed to high temperatures in the region.

For instance, the OSHA and NIOSH mandates the usage of heat stress monitors in the chemical, mining, oil and gas, industrial manufacturing, and petrochemical sectors of the U.S. to monitor the health of employees. Moreover, the upcoming 2026 FIFA World Cup will also fuel the adoption of heat stress monitors in the U.S., Mexico, and Canada.

Thus, the rising need to monitor the health of athletes and military personnel and surging requirement of protecting the health of employees working in adverse working conditions will propel the adoption of heat stress monitoring solutions in the foreseeable future.

Posted in Uncategorized

Increasing Cyberattack Prevalence Driving Demand for Security Solutions Among BFSI Companies

Posted on by Devanshu Shrivastava

With the burgeoning demand for a personalized banking experience, surging requirement for mitigating the various risks associated with conventional technologies, and the soaring need for the real-time analysis of large volumes of data, banks and financial institutions are rapidly moving their core operations and applications to the cloud network.

Moreover, the ability of the cloud to offer enhanced operational control of the platforms and reduce the capital expenditure is also driving its popularity among banks and financial organizations. As the adoption of cloud solutions massively increases the chances of cyberattacks, since the data is stored remotely, the rapid shift of banks and financial organizations toward cloud operations is fueling the demand for security technologies among companies operating in the BFSI security market.

Due to this reason, banks and other financial organizations are adopting security solutions, which is, in turn, predicted to fuel the market at a CAGR of 16.9% during 2020–2030 (forecast period). According to the estimates of the market research company, P&S Intelligence, the market revenue will rise from $31.3 billion in 2019 to $175.1 billion by 2030.

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These breaches are causing massive losses to the organizations operating in the industry. For instance, the U.S. witnessed the highest prevalence of data breaches in 2019. Furthermore, these breaches caused losses of $8.19 million to companies operating in the country. Hence, in order to manage and control security operations over the cloud network, these enterprises are rapidly adopting cloud-based security solutions.

Moreover, the financial services industry has always been highly vulnerable to cyberattacks and a major target area for cybercriminals, on account of the generation of the large volumes of unstructured data in the industry. Additionally, with rapid technological advancements such as the digitization of financial operations and the use of online banking, the prevalence of data breaches is surging.