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How is Increasing Adoption of Cloud Solutions Driving Key Management as a Service Market?

Posted on by Devanshu Shrivastava

P&S Intelligence published a new research report, titled, “Key Management as a Service Market: Global Industry Analysis and Forecast till 2030, Owing to digital transformation, a large number of companies have shifted to cloud-based solutions. While this certainly has had its advantages, cloud-based solutions also make the data more susceptible to breaches. Weak passwords, complex access permissions, improper configuration, and malware attacks are some of the key factors that can help cybercriminals in accessing confidential data.

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As per a 2019 Cost of Data Breach Report by International Business Machines Corporation Security, co-published with Ponemon Institute, on an average, 25,575 documents are accessed during a data breach globally, and every data breach costs approximately $3.92 million on an average. Because of these factors, enterprises across the globe are making use of key management as a service (KMaaS).

Encryption key management refers to the management of tasks that are involved with storing, protecting, organizing, and backing up encryption keys. According to P&S Intelligence report, the global key management as a service market generated a revenue of $511.9 million in 2019, progressing at a 25.9% CAGR during the forecast period (2020–2030). Both services and solutions are offered under KMaaS solutions, between which the demand for solutions was higher in the past.

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This market research report provides a comprehensive overview of the key management as a service market

  • Historical and the present size of the key management as a service market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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IoT Market in Structure Monitoring Market | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2030

Posted on by Devanshu Shrivastava

A major driving factor for the market is the growing requirement for smart infrastructure across the globe. With the rapidly rising disposable income and urbanization rate, a large number of bridges, buildings, roads, and dams are being constructed. Further, the existing infrastructure in developed as well as developing nations is aging, which is leading to a surging demand for its status tracking through advanced technologies, thereby helping the IoT market in structure monitoring progress.

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Physical security system, energy management system, building communication system, earthquake monitoring system, plumbing & water management system, elevators & escalators management system, and parking management system are the various categories under the solution segment. Among these, physical security system was the largest category in the IoT market in structure monitoring during the historical period. Video monitoring, logical security, and biometric devices are included under such solutions. In the coming years, the highest CAGR would be experienced by parking management systems, which allocate parking spaces based on dimension.

The major factors driving the growth of the internet of things (IoT) market in structure monitoring are the increasing requirement for protecting the infrastructure, low operating costs of monitoring systems, and construction of smart infrastructure. With time, interconnected devices are being installed in buildings and other infrastructure to keep a track of their condition. The data, thus transferred online, without much human intervention, helps monitor their carbon emissions and need for maintenance. 

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Another reason which drives the adoption of such solutions is the increasing occurrence rate of natural disasters, such as earthquakes, cyclones, floods, and tornadoes, as well as accidental or intentional fires. Due to this, real estate firms are swiftly integrating solutions to track the health of the infrastructure, to predict which parts of the physical structure are the most prone to damage from these calamities. Further, such software and equipment also help take stock of the damage after a disaster as well as improving their design for better earthquake resistance. 

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Know How Covid-19 Impact on Mobile VPN Market | Insights on Size, Share, Demand, Trends & Key Players

Posted on by Devanshu Shrivastava

Nowadays, organizations prefer using centrally managed remote offices that help them provide a secure access to confidential data to their workforce at a low cost. Further, to reduce operational costs and maintain a local presence, enterprises are providing remote access to business-critical applications so that their employees can work from anywhere. Hence, mobile VPN is a vital solution for such enterprises, where employees have to access the company’s network via wireless devices.

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It has been witnessed that the banking, financial services, and insurance sector spend a large portion of its revenue in mobile security services and products. Moreover, banks are aiming on protecting customers’ account details along with safeguarding the payment gateways. This has become especially important since the penetration of mobile devices in the bank-customer interaction environment. Thus, the surging need for the protection of data among companies is anticipated to offer huge growth opportunities to the mobile VPN market.

Field workers, physicians, and the medical staff are rapidly adopting these solutions to access sensitive medical records and healthcare applications via wireless networks. On the basis of distribution channel, Geographically, in 2017, North America contributed the largest revenue to the mobile VPN market, and it is also anticipated to continue leading it during the forecast period. 

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Geographically, in 2017, North America contributed the largest revenue to the mobile VPN market, and it is also anticipated to continue leading it during the forecast period. Within the continent, in 2017, the telecommunications sector registered the dominating revenue share in the North American market, due to the significant adoption of mobile devices here. However, the Asia-Pacific region is predicted to witness the highest CAGR, of more than 30.0%, in the market during the forecast period.

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Patch Management Market | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2024

Posted on by Devanshu Shrivastava

The major driver for the growth of the patch management market is the increasing need to make the system less vulnerable to security threats. Due to the rising vulnerabilities, the IT system of companies is rapidly being hacked, with the intent of causing harm. The impact of such attacks on integrity, availability of data, confidentiality, and complexity of attacks can be studied to determine the severity of the vulnerabilities. Though the internet has opened doors of growth, it has also increased the risk of cyber-attacks.

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The highly competitive patch management market is characterized by the presence of several players, including Micro Focus International plc, Microsoft Corporation, ManageEngine, HPE Company, Symantec SA, Avast PLC, Cisco Systems Inc., and Oracle Corporation. In November 2019, Qualys Inc, a provider of cloud-based compliance and security solutions, entered into a partnership with Microsoft, to integrate its container security and vulnerability management features with Microsoft Azure.

From $535.4 million in 2019, the patch management market is expected to grow to $3,245.6 million by 2030, at a CAGR of 17.8% during 2020–2030 (forecast period). The banking, financial services and insurance (BFSI) category led the market in 2019, among all industries, as the sector faces constant cyber threats from external as well as internal sources. This is leading to a strong focus on the adoption of vulnerability management and security solutions to secure customers’ financial data. 

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On the geographical basis, Asia-Pacific (APAC) and North America held over 60.0% share in the patch management market in 2019. North America is home to a large number of multinational enterprises, and its IT infrastructure is also rather developed. Due to the prevailing cyber-attack risk, companies in the region are rapidly adopting such solutions to reduce their vulnerability. Additionally, with the increasing need to update the security patches, the market is progressing in the region.

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What are Key Factors Driving Progress of Global Mobile Virtual Network Operator (MVNO) Market?

Posted on by Devanshu Shrivastava

The biggest factors propelling the growth of the mobile virtual network operators are the burgeoning adoption of innovative marketing strategies like the use of social media and segment-targeted pricing techniques across the world. Since the last few years, there has been a huge rise in the incorporation of social media-based marketing strategies especially in the developed nations of North America and Western Europe.

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As a result, the valuation of the global mobile virtual network operator (MVNO) market is predicted to rise from $61.7 billion in 2018 to $98.0 billion by 2023. The market is also expected to progress at a CAGR of 9.7% during the forecast period (2018–2023). MVNOs offer a wide array of services, such as retail, business, discount, cellular machine-to-machine (M2M), migrant, roaming, media/entertainment, and telecom.

In addition to this, the rapid growth in the adoption of triple-play and quadruple-play services in Africa has massively boosted the rise of mobile virtual network operators (MVNOs). In several countries across the globe, the successful MVNOs, owing to their limited distribution and marketing strategies, are increasingly focusing on the optimum utilization of the existing marketing assets such as channel infrastructure, customer database of MNOs, and media and telecom and this is tremendously pushing the adoption of MVNOs in these countries.

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Out of these, the discount services were found to be offered by the MVNOs at a much larger scale in 2018, than the other types of services. The roaming services are expected to be deployed at the fastest rate by the MVNOs, during the forecast period, mainly due to the numerous initiatives enacted by the MVNOs in several countries such as comprehensive roaming tariffs, which promote the adoption of roaming services. 

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How is Rising Need for Effective Customer Management Driving Salesforce Services Market?

Posted on by Devanshu Shrivastava

These days the major concern of companies across all the industries is the automation of certain processes and provide their customers with improved service. In order to achieve this, enterprises are increasingly making use of new technologies such as service cloud, which allows them to automate service processes, find key topics, articles, and experts for supporting agents, and streamlining workflows. Service cloud helps businesses to build one-to-one marketing relationships with every customer, on any device, and across multiple channels. The integration of service cloud with salesforce further aids in improving the customer management. 

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Salesforce is basically a customer relationship management solution (CRM) platform which provides all the departments of an enterprise, including service, commerce, sales, and marketing, a single, shared view of every customer. In 2019, the global salesforce services market reached $9,124.2 million and is expected to generate $55,307.6 million by 2030, advancing at a 18.9% CAGR during the forecast period (2020–2030). The different services offered by salesforce include execution, system management, and planning. The largest demand was created for system management services in the past due to the rising requirement for salesforce monitoring. The service provides smart alerts to support teams for predicting and preventing major issues related to CRM applications. 

A number of industries make use of these salesforce services including government, banking, financial services, & insurance (BFSI), retail & e-commerce, healthcare, manufacturing, and information technology & telecom. The demand for salesforce services was the highest in the BFSI industry in the past, owing to the fact that the BFSI sector needs to focus on customer engagement through digital applications and improved payment services. In the industry, the services help the insurance agents and bankers by offering a complete 360-degree view of customer data, including service inquiries and accounts, thereby allowing enterprises to make informed decisions. 

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Geographically, North America and Europe made increasing usage of salesforce services in the past, which is attributed to the extensive adoption of CRM solutions, heavy IT spending, penetration of cloud services, and technological advancements in these regions. Apart from this, the rising adoption of advanced technologies, rapid economic development, and expanding BFSI industry in Asia-Pacific is expected to make the region the fastest-growing salesforce services market in the coming years. This is further predicted to offer opportunities for the companies operating in the market to expand their business and increase their global footprint. 

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How is Surging Energy Crisis Driving Energy Management System Market?

Posted on by Devanshu Shrivastava

The fact that numerous technological advancements in various industries aim on reducing the consumption of power states that the attaining energy efficiency is the priority at the present time all across the globe. The reduction in fossil fuels, which are primarily utilized for energy generation, and the rapid shift towards the utilization of alternate renewable energy resources, such as solar energy, are creating the need for new systems which can make sure that the generated energy is utilized in an efficient manner.

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One of the technologies that can aid in achieving energy efficiency is energy management system (EMS).  These systems can help in decreasing the energy consumption by up to 20–30%, as they provide the user with the flexibility of monitoring, analyzing, and controlling the energy that is being used on a daily basis, which, in turn, is resulting in their rising demand.

As per a report by P&S Intelligence, the global energy management system market reached a value of $39.5 billion in 2017 and is expected to generate a revenue of $113.5 billion by 2023, advancing at a 19.3% CAGR during the forecast period (2018–2023). Both systems and services are offered under this technology, between which, the demand for services is predicted to be higher in the near future. 

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This is ascribed to the growing demand for implementation and integration, consulting, and monitoring that is associated with EMS in residential and commercial buildings. The different solutions which are offered by EMS are demand response management, carbon energy management, and utility and customer information system. 

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What are Key Trends in Software-Defined Wide Area Network (SD-WAN) Market?

Posted on by Devanshu Shrivastava

In 1993, less than 1% of the world’s population had access to the internet, and by 2017, almost half the people on this earth were regular internet users, the World Bank says. In simple terms, the internet is a wide area network (WAN), which is itself a network of computers and servers extending over a large area. A large number of business organizations, government bodies, and academic institutions use WANs to communicate with personnel in distant locations.

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Now, the problem with traditional WAN is that installing and managing it is labor-intensive and time-consuming, thus costly. Therefore, with such networks becoming more complex and wider, especially with the rising popularity of mobile and cloud computing, need is being felt for their easy management.

In this scenario, software-defined WAN or SD-WAN helps users in managing their wide area networks centrally and in automating their configurations, which not only reduces the need for humans to do it, but also makes the process shorter and cost-effective.

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Thus, with the increasing demand for easily manageable wide area networks, the SD-WAN market is expected to mushroom to $9,691.0 million by 2023, from $676.9 million in 2017, at a 54.1% CAGR during the forecast period (2018–2023). Many organizations are using the software-defined approach to optimize their WAN, for making their network infrastructure compatible with cloud, improving the experience of users, and achieving higher virtual flexibility.

Similarly, there has also been a rising demand for intelligent pathways in recent years. To effectively tackle the challenges of data congestion and increasing network complexity, WAN users are looking at policy-based routing solutions, which determine a path for the traffic on the basis of the particular application, as well as the source and destination of the data.

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COVID-19 Impact Analysis on Artificial Intelligence (AI) in Energy Management Market | Insights on Strategies of Key Players

Posted on by Devanshu Shrivastava

The different applications of AI in energy management are energy output forecasting, energy generation, energy distribution, and energy transmission. The largest demand for AI in the past was created for energy output forecasting applications, including live metering, load forecasting, predictive maintenance, and yield optimization. This is owing to the fact that AI solutions aid utilities in providing effective power management services to consumers, by utilizing machine learning techniques, data, and statistical algorithms.

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The demand for AI for energy generation is also expected to increase significantly in the coming years, because of the rising need for managing the output of the power generated from different sources, to match the temporal and spatial variations in real time. These systems provide real-time power consumption information, so that the users get to know about the impact of their actions.

Geographically, North America has emerged as the largest AI in energy management market, primarily due to the fact that a number of top AI solution providers are present in the region. As per a report by P&S Intelligence, in 2018, the global AI in energy management market reached a value of $4,439.1 million, and it is expected to attain revenue of $12,200.9 million by 2024, progressing at a 19.8% CAGR during the forecast period (2019–2024). 

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In addition to this, the U.S. is actively deploying AI in the energy sector to integrate the electricity generated from non-renewable and renewable sources into the total power supply. Apart from this, the Asia-Pacific region is also projected to make considerable use of AI solutions in the energy management sector in the coming years, owing to the strong initiatives that are being taken by the governments of emerging economies.

Hence, the need for energy efficiency and technological advancements are driving the demand for AI in energy management.

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Business Impacts of COVID-19 on Data Warehouse as a Service Market | Strategies of Major Industry Competitors

Posted on by Devanshu Shrivastava

The biggest rage presently being witnessed in the data warehouse as a service market is the rising popularity of hybrid cloud, on account of its various advantages such as operational flexibility and the ability ton provide greater portions for deployment. Hybrid cloud technology allows companies to easily shift their on-premises infrastructure to cloud, without taking the help of a third-party service provider.

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This technology also provides higher customization, as it lets companies choose the data they want on cloud and the information they want on their on-site infrastructure. Globally, North America recorded the highest adoption of data warehouse as a service in 2019 and this trend is also expected to continue during the forecast period.

This is mainly ascribed to the rising adoption of data analytics in the e-commerce and retail, healthcare, government, and banking, financial services, and insurance (BFSI) sectors. Asia-Pacific (APAC) is expected to witness the fastest growth in the adoption of DWaaS during the forecast period, owing to the rising usage of cloud-based data warehousing solutions by insurance companies, banks, and other financial institutions. 

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DWaaS solutions are used by both large and small and medium (SME) enterprises. Of these, the large enterprises recorded higher adoption of DWaaS during the historical period (2014—2019). This is mainly attributed to the fact that large companies create huge volumes of data from different sources and thus, have a greater need for managing them as compared to the SMEs.

Therefore, it can be concluded that due to the soaring demand for effective data warehousing solutions by numerous businesses across the world, owing to the increasing need for data storage and analysis, the adoption of data warehouse as a service is expected to rise considerably in the coming years.