#IoT Insurance Market size

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IoT Insurance Market - Forecast (2022 - 2027)

The Global market for Iot Insurance is forecast to reach $3,123.3 million by 2026, growing at a CAGR of 18.7% from 2021 to 2026. IoT-Connected insurance uses the data from internet-connected devices and telematics to improve the understanding of risks. It is a new approach that is based on use of sensors and digital technologies to monitor the state of an insured risk transforming rough data in usable and actionable information. Advances in IoT insurance can improve the productivity, overall profitability of the business and the risk profile of the portfolio. Through IoT, insurers can better connect with customers adding important touch points in particularly sensitive phases like acquisitions and claims. It is observed that automation can cut the cost of the claims process by as much as 30% and IoT connected devices have helped some life insurance and health insurance companies lower their premiums by as much as 25%.

Report Coverage

The report: “Iot Insurance Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Iot Insurance market. By Type – Health Insurance, Life Insurance, Property and Casualty Insurance and Others. By Application – Life and Health Insurance, Home and Commercial Buildings, Automotive and Transportation, Business and Enterprise, Consumer Electronics and Industrial Machines, Travel, Agriculture and Others. By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa)

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Key Takeaways

Advances in IoT insurance can improve the productivity, overall profitability of the business and the risk profile of the portfolio.

IoT technology presents opportunities for insurers to reduce and mitigate losses, improve underwriting and enhance personalization of products and services.

Automation in insurance can cut the cost of claims process by as much as 30%

North-America is expected to hold a significant share in the IoT Insurance market due to growing awareness and faster adoption of IoT technology.

IoT Insurance Market Segment Analysis - By Type

The most important type of insurances are life insurance and health insurance which accounted for 44% share combined in 2020. Life insurance is something that pays out a sum of money either on the death of the insured person or after a set period. On the other hand health insurance covers the cost of hospitalization, visits to the doctor’s office and prescription medicines. The rising usage of digital technologies in this sector will drive market growth.

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IoT Insurance Market Segment Analysis - By Application

IoT insurance is applicable to almost all industries like automobile, manufacturing, agriculture, healthcare, hospitality, retail, finance, transportation and smart homes and buildings. Automotive industry is one of the industries most benefited after introduction of IoT. IoT devices such as in-car sensors, smartphones, and smart appliances can send insurers data on product usage and driving habits among other behaviours. In turn, this data will be fed into AI algorithms that allow insurers to offer risk based pricing and other popular services.

IoT Insurance Market Segment Analysis – By Geography

North America held the largest market share at 35% in 2020 among regional markets due to increasing awareness and rapid implementation of IoT in various industries in countries in this region. In addition, rising use of smart devices which deliver real-time insights to allow insurance companies in this region develop advanced insurance solutions. And also presence of international players in this region such as Google LLC, Microsoft Corporation, IBM and other drives the market in this region.

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Iot Insurance Market Drivers

Mitigation of risk

In traditional method, insurers have used proxy data to identify the risk of loss for an asset. Internet of things (IoT) gives insurers access to real-time, individual, observable data on an asset’s risk of loss. This data is directly actionable for risk pricing and mitigation. IoT sensors monitor the behavior and actions which are causative of risk so that insurers can create algorithms based on observed behavior directly to pricing models. In this way insurers can similarly leverage this data for risk mitigation by providing timely and specific feedback to customers.

Rising demand for cloud services

The insurance industries dealing with huge volumes of sensitive data and documents are ready to integrate cloud technology in to their digital eco system. It enables insurers to use their IT resources more efficiently, reducing the cost of acquiring and maintaining infrastructure. Cloud based applications change the way of creating and delivering their products and services, managing risks and claims, collaborating with channel members and partners and communicating with customers, agents and brokers. Thus, cloud services in the insurance industry helps drive the market growth.

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Iot Insurance Market Challenges

Data privacy and security

Data privacy and security is utmost important when it comes to technology. IoT comes along with cyber-risks, in fact, much more than any other technology. Meaningful customer engagement would require the insurer to collect and process data at each point, facilitated by IoT. Without establishing the trust it would be difficult to obtain personal data from customers. A significant amount of data is generated from the application of connected devices from wearable devices to connected homes and telematics devices in smart vehicles. Most of the customers are skeptical about their personal data remains secured and how it is utilized by insurers.

Iot Insurance Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Iot Insurance market. The Iot Insurance market is dominated by major companies such IBM Corporation, SAP SE, Oracle Corporation, Google Inc., Microsoft Corporation, Cisco Systems Inc., Accenture PLC, Verisk Analytics Inc., Concirrus, LexisNexis.

Acquisitions/Technology Launches/Partnerships

In Oct 2020, LexisNexis and Yonomi Smart Home have joined forces to develop an innovative turnkey home insurance internet of things (IoT) solution. It includes a smartphone app that participating policy holders can download the app which uses smartphone and device sensors to find common IoT devices in the home, which creates a data feed to LexisNexis risk sloutions.

In May 2019, Concirrus and willis Re, has entered in to strategic partnership to transform speciality re-insurance products by leveraging data from internet of things (IoT).

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Alternative Data Market Size, Status and Forecast 2030

Alternative Data Industry Overview

The global alternative data market size was valued at USD 7.20 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 50.6% from 2024 to 2030. The key drivers attributed to market expansion include the significant increase in the types of alternative information sources over the last decade. While web scraping and financial transactions are the most common sources, the emerging sources, including mobile devices, social media, satellites, sensors, IoT-enabled devices, and others, are gaining wider popularity. As such, the companies are actively expanding their offering by gathering information from all such sources.

The rising demand from hedge funds is expected to boost market growth significantly. More than half of hedge fund managers are now using it to gain a competitive edge by generating outperformance and supporting the risk management processes. More than 400 companies are engaged in selling alternative data to hedge funds, thereby contributing significantly to market revenue. Alternative data refers to the undiscovered which is not within the traditional sources such as SEC filings, financial statements, press releases, and management presentations. It is compiled from various sources such as e-commerce portals, public records, social media, financial transactions, web traffic, mobile devices, sensors, satellites, etc.

Gather more insights about the market drivers, restrains and growth of theAlternative Data Market

Applying specific analytics to this compiled set yields additional insights that were previously unknown, and are used by investors to evaluate investment opportunities. As this new information is a crucial differentiator that contributes to the alpha (market outperformance), the buy-side entities, such as hedge funds, mutual funds, private equity funds, pension funds, unit trusts, and life insurance companies, are actively using it to build fundamental investment models to outperform the market.

Alternative data, compared to the usual financials gathered from traditional sources, is difficult to utilize in strategic plans. It is often unstructured, lacks specific patterns, and is collected very frequently. Thus, the investors need expert personnel and various technologies, including analytics platforms, fluid data architecture, data science, and testing tools, to leverage the meaningful information from it. Further, Artificial Intelligence (AI) tools, such as machine learning and Natural Language Processing (NLP) are gaining popularity for analysis. AI-enabled processing increases information generation and helps to extract hidden patterns. As such, AI-based analytics tools are anticipated to boost the growth of the market for alternative data over the forecast period.

While most companies utilize various sources and tools to gain insights and predictive capabilities, regulatory constraints are expected to be the primary challenges for the market players. The increasing emphasis on regulations such as California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR), along with other privacy regulations, pose threats to some of the alternative data sources. For instance, sources such as mobile devices, social media, and mobile application usage often conflict with consumer privacy issues. Any dataset that companies analyze needs to be completely free from Personal Identifiable Information (PII). Therefore, the providers’ compliance with privacy policies is a crucial factor for sustaining the market.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

The global natural language processing market size was valued at USD 27.73 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 40.4% from 2023 to 2030.

The global mobile application market size was valued at USD 252.89 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 14.3% from 2024 to 2030.

Key Companies profiled:

1010Data

Advan

Dataminr

Earnest Research

M Science

Preqin

RavenPack

Thinknum Alternative Data

UBS Evidence Lab

YipitData

Key Alternative Data Company Insights

Some of the key players operating in the market include UBS, M Science LLC, and RavenPack.

UBS provides data-driven insights by harvesting, cleansing, and connecting numerous data items across various specialized areas. The company provides insights for more than 1,000 companies of all sizes on a subscription basis to its Evidence Lab Innovations platform subscribers. UBS offers insightful datasets across more than 55 specialized products. The company’s various types of alternative data offerings include geospatial data, pricing data, sentimental data, social media data, and transaction data, among others.

M Science LLC is a data-driven research and analytics firm that provides critical customer insights to leading financial institutions and private & government corporations. The company integrates data science and technology, and financial models to transform raw data into actionable insights, enabling its customers to make smarter and more informed decisions. It caters to automotive, consumer durables, internet & telecommunication, and media industries.

Thinknum Alternative Data and Earnest are some of the emerging alternative data companies.

Thinknum Alternative Data organizes, processes, and analyzes public data from the web and offers over 300 companies (across the globe) unique real-time insights. The company’s clients include hedge funds, universities, internet companies, and investment firms. Its clients access these datasets via an Application Programming Interface (API) and User Interface (UI). A few critical datasets include job listing sites, LinkedIn profiles, and Facebook followers, among others.

Earnest is a data analytics company that provides critical information on consumer spending habits to government agencies, corporations, management consultants, and institutional investors by utilizing real-time data. The company uses tools for fundamental analytics of retail pricing, healthcare claims, consumer spending, and foot traffic to offer structured datasets with clear and correlated signals. These datasets are computed to understand national health trends and consumer habits.

Recent Developments

In April 2023, Thinknum Alternative Data launched new data fields to its employee sentiment datasets for people analytics teams and investors to use this as an 'employee NPS' proxy, and support highly-rated employers set up interviews through employee referrals.

In September 2022, Thinknum Alternative Data announced its plan to combine data Similarweb, SensorTower, Thinknum, Caplight, and Pathmatics with Lagoon, a sophisticated infrastructure platform to deliver an alternative data source for investment research, due diligence, deal sourcing and origination, and post-acquisition strategies in private markets.

Order a free sample PDF of the Alternative Data Market Intelligence Study, published by Grand View Research.

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A Strategic Approach to Material Handling Equipments Procurement Intelligence

The global material handling equipments category is anticipated to grow at a CAGR of 5.85% from 2023 to 2030. Key factors driving the growth of the category include innovations in technology and the incorporation of Industry 4.0 into logistics infrastructure and warehouse management systems, growing need for expedited delivery, improved warehouse operations, and effective order fulfilment. In addition, the category is also being fuelled by rising e-commerce combined with shifting customer preferences is advancing last-mile delivery robot capabilities, and growing industrialization and the need for automation in material handling machinery. However, costly initial outlay for the purchase and upkeep of the product offered in the category places limitations on companies, especially small and medium-sized ones (SMEs). This may hinder the growth of the category during the forecasted timeframe.

Robotics & automation, internet of things (IoT) & data analytics, smart & connected systems, artificial intelligence (AI), digitization, and sensors & communication. Robotics & automation can improve speed, precision, flexibility, and quality while lowering labor expenses, human error, injuries, and downtime. For instance, automated guided vehicles (AGVs) integrated with navigations systems, cameras and sensorscan move goods and materials across the plant on their own. In addition, utilization of IoT & data analytics enables businesses in real-time optimizing, controlling and monitoring of technology and equipments. For instance, a business can use barcode scanners, GPS, and RFID tags to monitor the condition, status and location of its products and materials. Furthermore, a business can optimize and align the material handling process with its overall plant operations and company goals by utilizing smart & connected solutions.

The category for material handling equipments exhibits a moderately consolidated landscape, with majority of the share in the market being held by few of the global players who seek to maintain competition by implementing both organic and inorganic strategies as part of their core growth plan. The players are utilizing strategic activities like mergers, acquisitions, and new product launches to increase their competitive share and improve material handling operations through the quick adoption of cutting-edge technologies. For the purpose of making a significant market penetration, they regularly supply a range of specialist devices to their end users across nations. In addition, they are investing heaving in research & development to enhance their product lines. Despite intense competition, buyers in the category possess low negotiation capability as the market is ruled by few of the large players who leave less scope for switching to other options or let small regional players survive for long.

Order your copy of the Material Handling Equipments Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Cost of equipment, financing, insurance, fuel expenses, and repairs & maintenance constitute the total cost of ownership for the products offered in the category. The factors that drive the prices of the equipments include demand & supply, manufacturer, model & safety features, and resale value.Prices of equipment are impacted by the laws of supply and demand. Prices decrease as a result of increased competition among firms for machinery. Purchasers benefit if a certain equipment is oversupplied in the market. In addition,there are many equipment manufacturers, but only a handful control the market. The annual sales of new and second-hand equipment around the world reflect the fact that many businesses only purchase one or two specific brands of machinery. In the U.S., the price of high-rise crawler excavator ranges between USD 99,500 to USD 124,500. The price of diesel forklift ranges between USD 5,900 to USD 9,500.

Asia-Pacific region dominates the global material handling equipments category, holding substantial share of revenue. Growth of the region is attributed to the continuous rise of food retail sector which aims to boost the speed and effectiveness of picking & sorting processes, hence, requiring the need for the products offered in the category. In addition, strong economic growth in China, India, and several ASEAN nations is responsible for the expansion of the Asian market, which in turn has contributed to the overall growth of the region. Selecting an equipment that doesn’t incurs high cost of maintenance, thoroughly observing the space where the equipment will be deployed in order to get the relevant machinery (i.e. not too big, nor too small), selecting a supplier that is reliable and offers the equipments which are safe and doesn’t compromise on the quality, and comparing multiple suppliers to get the best deal are some of the best sourcing practices considered in this category.

Material Handling Equipments Procurement Intelligence Report Scope

• Material Handling Equipments Category Growth Rate: CAGR of 5.85% from 2023 to 2030

• Pricing Growth Outlook: 4% - 8% increase (Annually)

• Pricing Models: Cost-plus pricing, Competition-based pricing

• Supplier Selection Scope: Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier Selection Criteria: Industries served, years in service, geographical service provision, types of equipments, power output, propulsion type, on-site assistance, regulatory compliance, and others.

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Browse through Grand View Research’s collection of procurement intelligence studies:

• Drilling Equipment & Consumables Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Heavy Mining Equipment Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Key Companies Profiled

• BEUMER Group GmbH & Co. KG

• Crown Equipment Corporation

• Daifuku Co., Ltd.

• Fritz SCHÄFER GmbH & Co KG

• Hyster-Yale Materials Handling, Inc.

• Jungheinrich AG

• Kardex Holding AG

• KION Group AG

• KUKA AG

• Liebherr-International Deutschland GmbH

• Mitsubishi Heavy Industries, Ltd.

• Toyota Industries Corporation

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

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Cancer Diagnostics Market to Reach USD 204.55 Billion by 2031, Growing at 6.89% CAGR | SkyQuest Technology

SkyQuest projects that the global Cancer Diagnostics Market will attain a value of USD 204.55 Billion by 2031, with a CAGR of 6.89% during the forecast period (2024-2031). Cancer diagnostics is a method of identifying various cell lines, proteins, and indications that lead to the presence of a cancerous tumor. This increase is mostly due to rising cancer prevalence around the world, improved awareness of early detection, more financing for cancer research and development, technological breakthroughs in diagnostic testing, and an increase in the number of private diagnostics centers.

Download a detailed overview: https://www.skyquestt.com/report/cancer-diagnostics-market

Browse in-depth TOC on "Cancer Diagnostics Market"

Pages – 157

Tables - 149

Figures – 78

Hospitals are Expected to Dominate the Market Due to Increase in Healthcare Expenditure

Hospitals are estimated to be the largest shareholder in the cancer diagnostic markets. This is due to increasing cancer-associated expenditures in developed nations as well as developing nations. Medical services such as hospitalizations, outpatient hospital services, physician/supplier services, home health care etc., are now the part of healthcare expenditure & reimbursements for the chronic disease including cancers. Therefore, the hospital segment is also expected to grow faster during the forecast period.

Diagnostic Laboratories is the Fastest Growing Sector Due to Increasing Demand for Advanced Diagnostic Tests

The diagnostic laboratories segment is the fastest growing in the global cancer diagnostics market after hospital sector. This growth is driven by the increasing demand for advanced and specialized diagnostic tests, which are often more extensively available in dedicated diagnostic laboratories than in hospital settings. There is a trend towards early detection and personalized medicine, adding to the increase in demand for the diagnostic services provided by these laboratories.

Growing Cancer Patients Makes North America the Leading Region in this Market

The global cancer diagnostics market was dominated by the North America region and contributed a major market share in 2023. This is due to the increasing incidences of cancers in the US, and Canada because of aging population, unhealthy lifestyles, rising rate of obesity and others. This has led the biotechnology and pharmaceutical companies to focus on cancer diagnosis. Whereas additional legislation and reimbursement frameworks in the region have also fueled the market's growth.  

Cancer Diagnostics Market Insights:

Drivers

Increasing Government Initiatives to Spread Awareness about the Benefits of Early Diagnosis

Growing Prevalence of Cancer Cases

Increased Healthcare Investments and Insurance Coverage

Restraints

Side Effects of Radiation

Higher Diagnostics Costs

Accuracy Issues Leading to False Positives or False Negatives

Prominent Players in Cancer Diagnostics Market

Abbott Laboratories

Agilent Technologies

Becton, Dickinson and Company (BD)

bioMérieux SA

Danaher Corporation

F. Hoffmann-La Roche Ltd.

GE Healthcare

Hologic, Inc.

Illumina, Inc.

Koninklijke Philips N.V.

Key Questions Answered in Cancer Diagnostics Market Report

What is the current market size for Cancer Diagnostics Market?

What is the competitive landscape looks like in the Cancer Diagnostics Market?

What are the key challenges in the Cancer Diagnostics Market?

This report provides the following insights:

Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of Cancer diagnostics  market.

Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.

Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Cancer diagnostics market.

Market Development: Detailed analysis of potential regions where the market has potential to grow.

Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.

Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com Visit Our Website: https://www.skyquestt.com/

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Asset Management Market: Detailed Insights on Size, Share, and Growth Potential

The global asset management market size is anticipated to reach USD 3,677.39 billion by 2030 and is projected to grow at a CAGR of 36.4% from 2024 to 2030, according to a new study conducted by Grand View Research, Inc. The three key trends that will drive the market growth are the rise of high-net-worth individuals (HNWIs) from emerging populations, the government-incentivized shift to individual retirement plans, and the expansion of sovereign wealth funds (SWFs). With increasing assets and associated costs, market vendors must maintain or increase their technology and data management investment to maximize distribution opportunities and comply with regulations and reporting. Moreover, the factors driving the market growth include the need to reduce equipment downtime and ensure optimum utilization of the available resources. The increased awareness of the benefits of IoT-based asset management solutions bodes well for the market's future growth. Advances in the latest technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and infrastructure automation, coupled with the continued integration of analytical and business intelligence tools in asset management solutions, are also expected to drive the market growth.

Asset Management Market Report Highlights

Based on component, the strategic asset management service segment is expected to register at the fastest CAGR of 36.1% from 2024 to 2030, owing to the involvement of development and planning in maintaining infrastructure assets

Based on asset type, the digital assets segment is expected to register at the fastest CAGR of 32.5% from 2024 to 2030. Digital assets, such as software licenses, intellectual property, and digital content, are becoming increasingly valuable for organizations across industries. With the proliferation of digital technologies and the shift toward digital business models, managing and safeguarding these assets has become paramount. As a result, the demand for digital asset management solutions, including powerful tracking mechanisms and access controls, is rising

Based on function, the repair and maintenance segment is expected to register at the fastest CAGR of 38.3% from 2024 to 2030. Assets such as equipment, transportation, machinery, and infrastructure require regular maintenance for proper functioning and extended life. Hence, the demand for repair & maintenance solutions is anticipated to gain significant traction over the forecast period

Based on application, the aviation asset management segment is expected to register at the fastest CAGR of 35.9% from 2024 to 2030., in line with an increase in air passenger volume and the launch of new aircraft models

The growing demand for cloud-based asset management solutions from the large number of SMEs based in the Asia Pacific will help in market growth. Furthermore, the expanding middle class, higher life expectancies, investors' gradual transfer from deposits to financial assets, and longer pension durations have resulted in a need to manage valuable asset data is driving up demand for AM solutions and is expected to drive the market growth in Asia Pacific region

For More Details or Sample Copy please visit link @: Asset Management Market Report

Asset management will take center stage as demographics and markets shift. Banks and insurers will be hampered by regulation because it will force them to abandon proprietary investing and other core businesses. Furthermore, as the world's population ages, retirement and healthcare will become significant challenges that only asset management can handle. Asset managers will be in high demand as capital is raised to support growing urbanization and cross-border trade. Furthermore, asset managers will be at the forefront of SWFs' efforts to diversify their vast pools of assets. The market value will need to be communicated systematically and consistently.

Customization and scalability have become critical considerations for buyers of asset management solutions. Organizations are demanding asset management solutions that can be customized to their specific workflows and requirements. In addition, the high demand for scalable solutions can be attributed to the growing focus of organizations on proactive approaches to accommodate future growth and changing business needs without disruption. Suppliers are addressing these demands by offering flexible and scalable solutions that can adapt to the evolving needs of their customers, ensuring long-term satisfaction and value delivery. These interconnected trends reflect the changing dynamics of the market, where suppliers and buyers collaborate to leverage technology and innovation for enhanced asset management capabilities.

Market players engage in technology partnerships and collaborations to develop advanced asset management solutions and roll out asset management services for their customers. For instance, in August 2023, SAP SE agreed with Software AG to incorporate its Intelligent Asset Management Suite, which includes Asset Performance Management (APM), with Software AG's Industrial IoT Platform, Cumulocity IoT. The collaboration was aimed at helping customers derive advantages from seamless product integration and a closed-loop approach to asset performance management.

List of Major Companies in the Asset Management Market

ABB Inc.

Adobe Systems Inc.

Brookfield Asset Management Inc.

Honeywell International Inc.

IBM Corp.

Oracle Corp.

Rockwell Automation, Inc.

Siemens AG

WSP Global Inc.

Zebra Technologies Corp.

Hitachi, Ltd.

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The smart healthcare products market shows immense growth potential in the coming decade. As of 2024, the market is valued at USD 172.76 billion. However, by 2032, it is projected to reach USD 421.57 billion, exhibiting an impressive compound annual growth rate (CAGR) of 11.80% between 2024 and 2032.The smart healthcare products market is undergoing rapid transformation, driven by technological advancements, increasing consumer awareness, and the need for efficient and cost-effective healthcare solutions. These innovative products, which include wearable devices, smart medical equipment, and health monitoring systems, are redefining the healthcare landscape by enhancing patient care, improving outcomes, and reducing healthcare costs.

Browse the full report at https://www.credenceresearch.com/report/smart-healthcare-products-market

Growth Drivers

1. Technological Advancements: The integration of artificial intelligence (AI), the Internet of Things (IoT), and big data analytics is revolutionizing the healthcare sector. Smart devices equipped with these technologies can monitor patient health in real-time, predict potential health issues, and provide personalized treatment plans.

2. Rising Prevalence of Chronic Diseases: With the increasing incidence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders, there is a growing demand for continuous health monitoring. Smart healthcare products offer real-time data and analytics, enabling early detection and timely intervention.

3. Aging Population: The global aging population is driving the need for advanced healthcare solutions. Elderly patients benefit significantly from smart healthcare products that allow for continuous monitoring and remote care, reducing the need for frequent hospital visits.

4. Consumer Awareness and Demand: As consumers become more health-conscious and tech-savvy, there is a rising demand for smart healthcare products that offer convenience, efficiency, and accuracy. Wearable devices like smartwatches and fitness trackers are gaining popularity for their ability to monitor vital signs and physical activity.

Key Products in the Market

1. Wearable Devices: Wearable health devices, such as smartwatches, fitness trackers, and biosensors, are among the most popular smart healthcare products. These devices monitor a range of health metrics, including heart rate, blood pressure, glucose levels, and sleep patterns, providing users with valuable insights into their health.

2. Smart Medical Equipment: Innovations in medical equipment, such as smart inhalers, connected insulin pens, and digital stethoscopes, are transforming patient care. These devices enhance accuracy, improve patient compliance, and facilitate remote monitoring.

3. Health Monitoring Systems: Advanced health monitoring systems, including remote patient monitoring (RPM) and telehealth platforms, enable healthcare providers to track patient health remotely. These systems collect and transmit data from various sensors to healthcare professionals, allowing for timely interventions and reducing hospital readmissions.

Market Challenges

1. Data Privacy and Security: The widespread use of smart healthcare products raises concerns about data privacy and security. Ensuring the protection of sensitive health information is crucial to gaining consumer trust and complying with regulations such as the Health Insurance Portability and Accountability Act (HIPAA).

2. High Costs: The initial cost of smart healthcare products and the associated infrastructure can be high, posing a barrier to adoption, particularly in developing regions. However, the long-term benefits, including reduced healthcare costs and improved patient outcomes, can offset these initial expenses.

3. Interoperability Issues: The lack of standardization and interoperability among different smart healthcare devices and systems can hinder seamless data integration and sharing. Efforts to establish universal standards are essential to maximizing the benefits of smart healthcare technology.

Future Outlook

The future of the smart healthcare products market looks promising, with continuous advancements in technology and increasing adoption across the globe. Key trends expected to shape the market include:

1. AI and Machine Learning Integration: The incorporation of AI and machine learning in smart healthcare products will enhance predictive analytics, personalized treatment, and clinical decision support, leading to better patient outcomes.

2. Expansion of Telehealth: The COVID-19 pandemic has accelerated the adoption of telehealth services. As telehealth becomes more mainstream, the demand for smart healthcare products that facilitate remote consultations and monitoring will continue to grow.

3. Focus on Preventive Healthcare: There will be a greater emphasis on preventive healthcare, with smart healthcare products playing a crucial role in early diagnosis, health maintenance, and disease prevention.

4. Wearable Technology Advancements: Future advancements in wearable technology will lead to more sophisticated and multifunctional devices, capable of monitoring a wider range of health parameters with greater accuracy.

Key Players  

Apple Inc.

Fitbit Inc. (now part of Google)

Philips Healthcare

Medtronic plc

GE Healthcare

Siemens Healthineers

Samsung Electronics Co., Ltd.

Omron Corporation

Honeywell Life Care Solutions

Qualcomm Life, Inc.

eClinicalWorks

Olympus Corporation

Terumo Corporation

Becton, Dickinson & Company

Cerner Corporation

Stanley Healthcare

Allscripts Healthcare Solutions, Inc.

AirStrip Technologies, Inc.

Segmentations:

By Product

Wearable Activity Trackers

Wearable Biosensor

ECG Wearable Devices

Others

By Distribution Channel

E-commerce

Pharmacy Stores

Others

By End User

Heart Disease Patients

Chronic Renal Failure Patients

Diabetes Patient

Others

Browse the full report at https://www.credenceresearch.com/report/smart-healthcare-products-market

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IT Services Market - Forecast(2024 - 2030)

IT Services Industry Overview

Global IT Services Market size is expected to reach $1,852.65 billion by 2031, growing at a CAGR of 9.5% during 2024-2031. In 2023, Deployment of IT for network management have become the best practices to bring and automate all business operations into a single and simple solution.  The growing popularity of cloud based software and rising concern to automate business processes are continuously increasing the demand for IT services worldwide. The cloud based IT services is experiencing rapid growth among SMEs since 2022 and is expected to capture more than 80% market share by 2025. Similarly, the emerging big data technology and rising number of connected devices across enterprises are increasing the demand for IT service management and information security management platform.

Report Coverage

The IT services market report: “IT Services Industry Outlook– Forecast (2024-2031)”, by IndustryARC, covers an in-depth analysis of the following segments of the IT Services Market.

By Service Type: Professional Services (System Integration (Application Integration, Application Development, Application Testing, Application Lifecycle Management). Infrastructure Integration (Data Center, Security, Mobility, Network and Others), Training and Education, Consulting), Managed Services (Managed Security, Managed Data Center, Managed Network, Managed Mobility, Others), Telecom Services

By Business Function: Finance and Accounting, Human Resources, Sales and Marketing, Supply Chain Management, Operations and Support, Manufacturing

By Organization Size: SME, Large Enterprises

By Deployment Type: Cloud, On Premises

By End User Industry: Banking, Financial Services, and Insurance, Media and Entertainment, Government and Defense, Communication and Technology, Consumer Goods and Retail, Healthcare, Others

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Key Takeaways

• North America dominates the IT services market owing to rising preferences of companies to avail cloud based services.

• The rising penetration IoT based devices and large volume of data generation in enterprises are creating new opportunity for IT services market.

• Cloud based IT services is expected to accelerate the IT services market at a faster pace due to low cost deployment.

• Lack of standardization would lead end users to spend in IT services with uncertain ROI, which may inhibit the IT services industry growth.

IT Services Market Segment Analysis - By End User Type

IT Infrastructure services market is likely to increase at a CAGR of 9.76% during 2024-2031. Most of the companies, these days are facing challenges in maintaining their IT infrastructure functioning and cost. Hence, there are rising number of vendors tapping into this market to provide managed IT services. Similarly, managed Infrastructure are gaining popularity, as it help companies to focus only on their core business activities. The emerging technologies such as big data has also fuelled the growth of IT Infrastructure Services Market. Big Data Market is expected to reach approximately $318 billion by 2025. Similarly, with the growing volume of data, enterprise’s IT infrastructure need to ensure the most stable information security management so as to protect the enterprise data from hackers.  This requirement further accelerate the IT services market from IT infrastructure service application.

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IT Services Market Segment Analysis - By Deployment Type

The cloud based IT services is gaining popularity owing to low cost of deployment. Similarly, with the cloud based IT services, scale up and scale down of businesses can be achieved easily. Thus, cloud based IT services is considered to be the most effective deployment platform by many small and medium sized enterprises in recent time. Cloud based IT Services is expected to grow at a CAGR of 9.98% during 2024-2031. In 2022, approximately 87% of companies worldwide were using some form of cloud based services, out of which 20% companies are likely to choose 100% cloud based services in next 5 years. It is also expected that by 2025, 72% enterprise software will be fully cloud based.

IT Services Market Segment Analysis - By Geography

In 2023, North America dominated the IT services market with a market share of more than 35.23%, followed by APAC and Europe.  The growing adoption of cloud based IT services is driving the IT services market in this region. North America accounts for majority of the cloud traffic globally. According to the Cisco Global Cloud Index, the cloud traffic in the region is poised to grow at a CAGR of 14% during 2024-2031 and will account for nearly 54% of the global traffic by 2025. Similarly, the rising adoption of hosted and managed services is accelerating the demand for cloud based IT services in the region. In 2023, approximately 75% of businesses are using some form of managed services in North America Region, making the region highly potential for IT services market.

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IT Services Market Drivers

• Rising demand for cloud based IT services

Since 2020, most of the industries and enterprises are replacing their on premise software with cloud based software. The cloud based software provides access to entire enterprise applications at an affordable price without any substantial upfront expenditure in software and hardware.  Similarly, the adoption of cloud computing enable enterprises to scale up and scale down their businesses more conveniently. Hence, cloud based IT services is becoming a more useful and cost effective solution for SMEs in recent time. In addition to this, cloud based computing offer new business capabilities and opportunities for the SMEs. As per major IT service providers, cloud based IT services can reduce the cost of IT deployment by approximately 45%-50%. Many startups are investing into this technology looking at the future opportunities and hence, end users are now finding a large number of options to choose their vendors. 

• Emerging big data technology

The volume of data consumption have increased significantly in the wake high speed internet connection, rising industrial automation, and increasing penetration of mobile devices. This rise in data volume are creating enormous opportunity for IT service management. Similarly, with the increase in data volumes, Colocation data center are experiencing high demand. The companies in this sector are increasingly digitizing their operations and services, resulting in their increased dependence on IT Services. Process and manufacturing industries are taking the path of industrial IoT to improve operational efficiencies, which will result in generation of large amount of data and have a positive impact on IT Services market. The Industrial IoT market is expected to reach $100 billion by 2025 growing at CAGR of 18.56% during 2023-2025. Thus, with the evolving big data concept in enterprises and businesses, the IT services market is likely to find opportunity during the forecast period.

IT Services Market Challenges

• Lack of standardization

The success of IT services in businesses depends on multiple factors and is often varied with the companies. Similarly, each business is unique and hence use specific technologies to meet the particular business solution. Thus, due to lack of standardization, it is difficult for businesses to estimate the viability of IT services based on the success factor of same technology in other company.   A typical IT service deployment may cost between $75 to $300 per users. Thus, lack of ineffective IT services may cost a huge financial burden for the enterprises.

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Market Landscape

The IT services market share held by top 5 players were estimated approximately   29.7% in 2023. Acquisition, partnership, and Service differentiation are the key strategies adopted by most of the companies in this market.  IT services top 10 companies include:

Accenture PLC

Capgemini

Cognizant Technology Solutions Corporation

Oracle Corporation

Fujitsu

HCL Technologies Limited

Hewlett Packard Enterprise

Tata Consultancy Services

IBM Corporation

Infosys. 

Acquisitions/Technology Launches

• In December 2023, Analytics cloud platform Alteryx is going private. It’s agreed to be acquired by Clearlake Capital and Insight Partners in a deal valued at $4.4 billion. 

• In December 2023, IT outsourcer Cognizant snapped up Thirdera, a ServiceNow partner based in Colorado, and added almost 1,000 employees to its workforce of almost 350,000.

• In November 2023, Accenture completed its acquisition of Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations across multiple industries

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Ocean Freight Procurement Intelligence 2024 - 2030: Trends and Insights

A critical component of global supply chain management is ocean freight procurement. The global market size was estimated at USD 75.8 billion in 2023. The rise in the coordination of logistics and the acquisition of goods or services from suppliers, including vessel chartering, container ships, cargo handling equipment, and other essential items, for prompt and cost-effective product delivery has shaped the dynamics of the maritime supply chain.

Two of the top technological trends in the maritime and shipping industry are the introduction of smart containers and the increasing use of sensor technology. These technological advancements are having a positive impact on supply chain operations in the face of multiple disruptions in the world. Smart containers are now used in conjunction with IoT sensors to provide better supply chain visibility in this category. For instance, Hapag Lloyd utilizes IoT devices from Nexxiot and Orbcromm to offer data on container or shipment levels on their proprietary platforms. In 2024, according to industry experts, 23 -26% of containers globally are expected to be equipped with IoT devices by the end of 2026.

The maritime freight sector is taking major steps in exploring several sustainable options for the industry. Ocean freight was responsible for transporting nearly 80% of the global trade volume as of May 2024. Shipping companies /ocean freight service providers are increasingly focusing on comprehensive reports of their scope 1, 2, and 3 emissions and working to reduce them. This can be attributed to the increased IMO's CII regulations, coupled with the high sustainability awareness among companies. As of March 2024, the shipping industry contributed 2-3% of the world's greenhouse gas emissions. In 2023, Forbes estimates noted that a 10% reduction in cruising speed can drop fuel usage by almost 30%. Smart indicators are helping companies to weigh the containers properly to avoid cargo spoilage and damage. Alternative fuels, such as biofuels and hydrogen, are increasingly being adopted by shipping companies to minimize environmental impact.

Order your copy of the Ocean Freight Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

This fragmented industry comprises a diverse array of players, encompassing feeders, LNG and tankers, containers, river transportation, bulkers, and long ocean runners. Each of these entities operates within distinct business verticals or cross sectors, each characterized by its own set of operations. Companies are increasingly expanding their service product portfolio, launching new facilities in strategic locations, and integrating new technologies to meet their customers’ demands better.

The total cost of ownership (TCO) for an ocean freight service provider includes the cost of cargo ships/mega-ships, fuel and surcharges, port, demurrage and detention charges, labor, customs clearance charges, terminal handling costs, insurance and ancillary charges. Many factors can influence freight rates, including the distance between origin and destination ports, size and weight of cargo, type of cargo shipped, full container load or less than container load, and market conditions.

For this category, low-cost country sourcing entails taking advantage of the benefits provided by countries with competitive shipping rates, well-functioning port facilities, and other factors that support cost-efficient marine transportation. For instance, nations having robust and integrated port infrastructure can efficiently handle large cargo volumes, thereby helping reduce the handling charges and transit times. Ports having automated technology with modern equipment can streamline the flow of products, minimize delays, and save costs. A few instances of nations that can be considered strategic hubs or locations ideal for shipping routes to gain wide market access include China, India, Singapore, Thailand, and Mexico.

The marine infrastructure in China is well-developed, with major ports such as Shanghai, Shenzhen, Ningbo-Zhoushan, and Guangzhou. The Asian giant is also one of the largest shipping container exporters in the world. It provides competitive shipping rates and a diverse selection of transportation alternatives, making it a desirable place for ocean freight sourcing. Similarly, with its long coastline and strategic location, India has several major ports, such as Mundra Port, Nhava Sheva (Jawaharlal Nehru Port or JNPT), Chennai Port, and Syama Prasad Mookerjee Port (formerly Kolkata Port). These places serve as crucial hubs for maritime trade. Competitive rates for shipping can be offered for shipments to and from Asia, Europe, and the Middle East.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Helium Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Nitrogen Procurement Intelligence Report, 2024 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Ocean Freight Sourcing Intelligence Highlights

• The market is fragmented. There is intense competitive rivalry between different carriers and shipping operators. This industry often faces the problem of overcapacity, where supply exceeds demand. Despite being under a contract with a carrier, a shipper or forwarder may resell capacity at a higher rate than the initial contract, which, in turn, leads to intense price competition.

• Three main ocean alliances dominate this ocean freight/maritime shipping industry. These are 2M, Ocean, and THE. These players command a higher negotiating power as they have access to and can provide a broader range of services across major trade routes.

• Bunker fuel, which is a primary fuel for ships, is a significant cost component in the TCO. Fluctuations in oil prices can directly impact the bunker fuel costs.

• During the procurement of this category services, companies/clients evaluate suppliers to determine if they can provide various container options based on the type of goods being shipped. They also assess whether suppliers can offer specialized equipment for perishable or temperature-sensitive products and accommodate oversized cargo. 

Ocean Freight - Key Suppliers 

• Mediterranean Shipping Company (MSC)

• A.P. Moller - Maersk

• CMA CGM Group

• China COSCO Shipping Corporation Limited

• Hapag-Lloyd AG

• DB Schenker AG

• DSV A/S

• Hellmann Worldwide Logistics Inc.

• Nippon Express Co., Ltd

• DHL Group

• Kuehne + Nagel International AG

• C.H. Robinson Worldwide, Inc.

• Kerry Logistics Network Limited

• Dachser Group SE & Co. KG

• GEODIS S.A

Ocean Freight Procurement Intelligence Report Scope

• Growth Rate: CAGR of 4.8% from 2024 to 2030

• Pricing Growth Outlook: 10 - 22% (Annually)

• Pricing Models: Volume-based, ad-valorem pricing, flat or fixed rates, spot or contract rate pricing models.

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Cargo handling capacities, FCL or LCL, cargo insurance, temperature control capabilities, online tracking, technical specifications, and other operational and functional capabilities

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

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Global Top 14 Companies Accounted for 32% of total Automotive EMC Testing market (QYResearch, 2021)

EMC (Electromagnetic Compatibility) testing is a process that ensures that an electronic device or system can operate properly in its intended electromagnetic environment without causing or experiencing any interference. Automotive EMC testing, in particular, is a type of testing that is focused on ensuring that vehicles and their components are compatible with electromagnetic emissions and are not adversely affected by electromagnetic interference.

Automotive EMC testing is critical because the electronic components in a vehicle can be sensitive to electromagnetic radiation. Electromagnetic interference (EMI) can cause disruptions in the operation of electronic systems in a car, which can lead to malfunctions and potentially dangerous situations. Examples of such electronic systems include engine management, navigation systems, audio systems, and communication systems.

Today’s automotive systems contain many more active electronic components than in the past. Those components and assemblies may emit RF noise or be affected by external sources of energy. This can result in unanticipated changes in system operation.

Most of today’s vehicle rely on active devices, microprocessors, and vehicle communication networks for control of vehicle functions, entertainment systems and legislated requirements such as tire pressure monitoring. Because complex control systems require a high degree of robustness EMC testing for systems and components is critical to insure proper operation.

According to the new market research report “Global Automotive EMC Testing Market Report 2023-2029”, published by QYResearch, the global Automotive EMC Testing market size is projected to reach USD 2.72 billion by 2029, at a CAGR of 7.1% during the forecast period.

Figure.   Global Automotive EMC Testing Market Size (US$ Million), 2018-2029

Figure.   Global Automotive EMC Testing Top 14 Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)

The global key manufacturers of Automotive EMC Testing include SGS, Bureau Veritas, TUV SUD, Dekra, Intertek Group, UL Solutions, Applus+ Laboratories, Element, Horiba, Eurofins MET Labs, etc.

In 2022, the global top five players had a share approximately 32.0% in terms of revenue.

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

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Cyber Insurance Market Growth, Trends, Size, Share, Demand And Top Growing Companies 2031

The global cyber insurance market is set to undergo a remarkable transformation, with projections indicating a significant surge from US$13.1 billion in 2022 to approximately US$68.2 billion by the end of 2030. This growth trajectory reflects a robust Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period from 2023 to 2030.

Read Full Insights: https://www.fairfieldmarketresearch.com/report/cyber-insurance-market

Market Dynamics Driving Growth

The increasing prevalence and sophistication of cyber threats such as data breaches, ransomware attacks, and phishing scams have propelled the demand for cyber insurance among businesses worldwide. Organizations are increasingly recognizing cyber insurance as a critical component of their risk management strategy, aimed at mitigating financial losses associated with cyber incidents.

Trends Shaping the Market

1. Technological Integration: The adoption of telematics- and IoT-enabled devices by insurers to assess and manage cyber risks has been a pivotal trend. These devices provide real-time insights into network vulnerabilities, enhancing risk assessment capabilities.

2. Focus on Cyber Resilience: There is a growing emphasis on cyber resilience strategies that enable businesses to sustain operations during and after a cyber event. Cyber insurance plays a crucial role in covering business interruption costs, thereby ensuring continuity amidst disruptions.

3. Regional Dynamics: North America continues to dominate the global market, driven by stringent cybersecurity regulations and high awareness levels regarding cyber risks. Meanwhile, the Asia Pacific region is poised to witness the fastest growth, fueled by increasing digitalization and rising cyber threats.

Sectoral Insights

1. Standalone vs. Tailored Insurance: Standalone cyber insurance policies, which cover a wide range of cyber risks including data breaches and privacy violations, dominated the market in 2022. However, tailored insurance solutions tailored to specific industry risks, particularly in BFSI and healthcare sectors, are gaining traction.

2. First-Party vs. Third-Party Coverage: The first-party insurance segment, addressing direct financial losses from cyber incidents, led the market in 2022. Meanwhile, liability coverage is projected to witness substantial growth, driven by regulatory fines and penalties associated with data breaches.

3. Enterprise Size: Large enterprises accounted for a significant share of the market in 2022, owing to their extensive data assets and higher premium capacities. However, small and medium-sized enterprises (SMEs) are expected to adopt cyber insurance at a faster rate due to increasing cyber vulnerabilities.

Regional Landscape

1. North America: As the epicenter of cyber insurance, North America is characterized by advanced insurance products tailored to emerging cyber risks from technologies like cloud computing and AI.

2. Asia Pacific: This region is witnessing rapid adoption of cyber insurance, driven by escalating cyber threats and government initiatives to bolster cybersecurity frameworks.

Regulatory Environment

The regulatory landscape for cyber insurance varies globally, with regulations such as GDPR in Europe and the Insurance Data Security Model Law in the US influencing market dynamics. These regulations mandate stringent data protection measures and impact insurers' risk assessment and compliance strategies.

Competitive Landscape

The global cyber insurance market is highly competitive, with key players including Travelers Company, AXA XL, Chubb, and American International Group, Inc. These companies are expanding their product portfolios and geographic presence to capitalize on growing market opportunities.

Conclusion

The global cyber insurance market is poised for substantial growth, driven by escalating cyber threats and increasing awareness among businesses regarding the financial implications of cyber incidents. As organizations continue to prioritize cybersecurity resilience, cyber insurance will remain a critical tool for mitigating financial risks and safeguarding digital assets.

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Europe Digital Logistics Market Analysis, Scope, Forecast 2023-2030

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe Digital Logistics Market size at USD 16.76 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Europe Digital Logistics Market size to expand at a CAGR of 13.44% reaching a value of USD 24.86 billion by 2030. The Digital Logistics Market in Europe is propelled by the rising interest in e-commerce and advancements in technology. The logistics industry underwent rapid technological evolution spurred by the COVID-19 pandemic. Disruptions caused by lockdowns and distancing measures prompted a shift towards digital solutions to ensure business continuity. This led to a surge in e-commerce activity, compelling logistics firms to streamline their processes. Automation, data analysis, and AI emerged as crucial tools for managing inventory, planning routes, and executing last-mile deliveries efficiently. The digital logistics sector is undergoing a significant transformation, largely driven by the exponential growth of data and its impact on service standards. In an era dominated by data, companies are accumulating vast quantities of information pertaining to their supply chains. Leveraging advanced technologies such as IoT sensors, AI, and analytics, this data is utilized for real-time tracking and understanding customer preferences, revolutionizing operational efficiency.

Opportunity – Increasing focus on sustainability

The growing emphasis on sustainability and environmental stewardship is creating lucrative prospects within the digital logistics sector. Businesses seek solutions to mitigate carbon emissions, enhance energy efficiency, and reduce waste across supply chain operations. For instance, Maersk's collaboration with Microsoft exemplifies efforts to drive market expansion by promoting decarbonization in logistics. With a significant portion of logistic carriers traveling empty on return journeys and millions of daily deliveries, there's a pressing need for eco-conscious practices. Digital logistics offers avenues for sustainable solutions like alternative fuel transportation, optimized route planning, and packaging efficiency, catering to the rising demand for environmentally friendly logistics practices and driving market growth.

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Impact of Escalating Geopolitical Tensions on Europe Digital Logistics Market

Escalating geopolitical tensions can significantly impact the Europe Digital Logistics Market. Heightened uncertainties stemming from geopolitical conflicts can disrupt global supply chains, leading to supply chain bottlenecks, delays, and increased costs. Trade barriers, tariffs, and sanctions imposed as a result of geopolitical tensions can impede the free flow of goods and services, constraining the efficiency of digital logistics operations. Furthermore, increased geopolitical risks may deter investment in digital infrastructure and innovation within the logistics sector, as companies prioritize risk mitigation strategies. Consequently, the Europe Digital Logistics Market may experience slower growth rates and heightened volatility as it navigates the complex geopolitical landscape.

Europe Digital Logistics Market

Segmental Information

Europe Digital Logistics Market – By Industry Vertical

On the basis of industry vertical, the Europe Digital Logistics Market is divided into Retail, E-commerce, Financial Servies & Insurance, Aerospace & Defense, Pharmaceuticals & Life Sciences, and IT & Telecom segments. The retail segment holds the highest share in the Europe Digital Logistics Market by industry vertical. The dominance reflects the retail sector's reliance on efficient logistics for inventory management, order fulfillment, and last-mile delivery. Digital logistics solutions enable retailers to optimize operations, enhance customer satisfaction, and adapt to the demands of e-commerce and omnichannel retailing. Meanwhile, the e-commerce segment is expected to witness the fastest growth rate during the forecast period. The surge is driven by the exponential expansion of online retailing, fueled by shifting consumer preferences and the convenience of digital platforms. E-commerce companies increasingly rely on robust digital logistics solutions to manage complex supply chains, ensure timely deliveries, and meet customer expectations for fast shipping and hassle-free returns. As e-commerce continues to thrive and expand its market share, the demand for innovative digital logistics technologies and services is expected to escalate, propelling the segment's accelerated growth trajectory.

Competitive Landscape

The Europe Digital Logistics Market is fragmented, with numerous players serving the market. The key players dominating the Europe Digital Logistics Market include DHL Group, FedEx, Hexaware, DB Schenkar, Kuehne + Nagel International AG, Kerry Logistics, Maersk, C.H. Robinson, DSV, SAP, Infonas, Sixfold, E2open, and Sennder. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

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Enterprise Resource Planning Market: Growth Aspects 2024-2032

As per Triton’s research report, the Global Enterprise Resource Planning Market report is sectioned by Deployment (On-Premise, Cloud, Hybrid), Enterprise Size (Large Enterprises, Medium Enterprises, Small Enterprises), Application (Finance, Human Resource (HR), Supply Chain, Customer Management, Inventory Management, Manufacturing Module, Other Applications), Vertical (Retail, Manufacturing, Banking, Financial Services, & Insurance (BFSI), Government, IT and Telecom, Healthcare, Military and Defense, Other Verticals), and Regional Outlook (Asia-Pacific, North America, Latin America, Middle East and Africa, Europe).

The report highlights the Market Summary, Industry Outlook, Impact Analysis, Porter’s Five Forces Analysis, Market Maturity Analysis, Key Buying Impact Analysis, Key Market Strategies, Market Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology and scope, Global Market Size, Forecasts & Analysis (2024-2032).

Triton’s analysis suggests that the global enterprise resource planning market is expected to witness growth at a CAGR of 9.95% during the forecasting years 2024-2032.

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Enterprise resource planning (ERP) is a software system designed to integrate key functional areas of an organization’s business processes into a cohesive system. An ERP system comprises modules that address essential business domains, including finance and accounting, human resources, production and materials management, customer relationship management, and supply chain management.

The enterprise resource planning market is set to witness several growth opportunities owing to the rising integration of ERP with big data and IoT. IoT devices generate vast amounts of real-time data, which, when seamlessly integrated into ERP systems, provide comprehensive insights into various business processes, from manufacturing to supply chain management. Coupled with big data analytics, ERP systems can analyze and interpret this information, offering predictive analytics and actionable insights that drive smarter business strategies. This synergy enables companies to optimize resources, anticipate market trends, and improve customer satisfaction, fostering a competitive edge.

However, the easy availability of open-source ERP software, coupled surge in common vulnerabilities and exposures, are expected to limit the enterprise resource planning market’s expansion.

The Asia-Pacific is expected to become the fastest-growing region in the market. The region’s growing economic landscape, coupled with the rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations, has created a robust demand for efficient business management systems. Additionally, government initiatives supporting digital infrastructure and smart city projects have further accelerated ERP adoption. As a result, the Asia-Pacific ERP market is expected to continue its upward trajectory, with a strong emphasis on innovative and scalable solutions tailored to diverse industry needs.

The major companies offering solutions in the ERP market are IBM Corporation, Epicor Software Corporation, IFS AB, Infor Inc, Microsoft Corporation, Oracle Corporation, SAP SE, QAD Inc, Workday Inc, and Syspro Ltd.

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The threat of new entrants in the enterprise resource planning (ERP) market is significant but mitigated by several high barriers. Established players benefit from extensive capital investments, robust infrastructure, and strong brand recognition, creating a substantial entry hurdle. Additionally, high switching costs for existing customers due to the complexity and integration requirements of ERP systems further deter new players. Despite these challenges, the constant evolution of technology, the rise of cloud-based solutions, and the increasing demand for customization provide opportunities for innovative startups to carve out niches.

[marketpattern]

 Encryption Management Solutions Market Strategies for Growth, Segmentation, and Market Overview by 2024-2031

The "Encryption Management Solutions Market" is a dynamic and rapidly evolving sector, with significant advancements and growth anticipated by 2031. Comprehensive market research reveals a detailed analysis of market size, share, and trends, providing valuable insights into its expansion. This report delves into segmentation and definition, offering a clear understanding of market components and drivers. Employing SWOT and PESTEL analyses, the study evaluates the market's strengths, weaknesses, opportunities, and threats, alongside political, economic, social, technological, environmental, and legal factors. Expert opinions and recent developments highlight the geographical distribution and forecast the market's trajectory, ensuring a robust foundation for strategic planning and investment.

What is the projected market size & growth rate of the Encryption Management Solutions Market?

Market Analysis and Size

With the growing trend of Internet of Things (IoT) and Bring Your Own Device (BYOD) among enterprises, data security concerns are on the rise. This has resulted in an increase in cyberattacks, commercial espionage, data breaches, and theft and losses in businesses, escalating the need to safeguard sensitive data and ensure compliance.

Data Bridge Market Research analyses that the encryption management solutions market was valued at USD 12.64 billion in 2021 and is expected to reach the value of USD 41.44 billion by 2029, at a CAGR of 16.00% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 350 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

This research report is the result of an extensive primary and secondary research effort into the Encryption Management Solutions market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the Encryption Management Solutions Market.

Get a Sample PDF of Report - https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-encryption-management-solutions-market

Which are the driving factors of the Encryption Management Solutions market?

The driving factors of the Encryption Management Solutions market include technological advancements that enhance product efficiency and user experience, increasing consumer demand driven by changing lifestyle preferences, and favorable government regulations and policies that support market growth. Additionally, rising investment in research and development and the expanding application scope of Encryption Management Solutions across various industries further propel market expansion.

Encryption Management Solutions Market - Competitive and Segmentation Analysis:

Global Encryption Management Solutions Market, By Deployment (Cloud, On-Premises), Application (Endpoint Encryption, Network Encryption, Database Encryption, Cloud Encryption), End User (Banking, Financial Services and Insurance (BFSI), Healthcare, Government, Retail, IT and Telecom) – Industry Trends and Forecast to 2031.

How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.

Which are the top companies operating in the Encryption Management Solutions market?

Some of the major players operating in the encryption management solutions market are:

Hewlett Packard Enterprise Development L.P. (U.S.)

IBM Corporation (U.S.)

Amazon.com, Inc. (U.S.)

Gemalto NV (Netherland)

RSA Security LLC (U.S.)

Thales. (France)

Sun Microsystems, Inc. (U.S)

VirtuCrypt (U.S)

Venafi, Inc (U.S.)

Oracle (U.S.)

Cisco Systems, Inc. (U.S.)

Dell Inc. (U.S.)

McAfee, LLC. (U.S.)

Trend Micro Incorporated (U.S.)

Sophos Ltd. (U.K.)

CommScope, Inc. (U.S.)

Broadcom (U.S.)

Short Description About Encryption Management Solutions Market:

The Global Encryption Management Solutions market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

North America, especially The United States, will still play an important role which can not be ignored. Any changes from United States might affect the development trend of Encryption Management Solutions. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.

Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2024-2031.

Encryption Management Solutions Market size is projected to reach Multimillion USD by 2031, In comparison to 2024, at unexpected CAGR during 2024-2031.

Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future.

This report focuses on the Encryption Management Solutions in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

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What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters

What are the key regions in the global Encryption Management Solutions market?

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Turkey etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)

South America (Brazil, Argentina, Columbia etc.)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Encryption Management Solutions Market Research/Analysis Report Contains Answers to your following Questions

What are the global trends in the Encryption Management Solutions market?

Would the market witness an increase or decline in the demand in the coming years?

What is the estimated demand for different types of products in Encryption Management Solutions?

What are the upcoming industry applications and trends for Encryption Management Solutions market?

What Are Projections of Global Encryption Management Solutions Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?

Where will the strategic developments take the industry in the mid to long-term?

What are the factors contributing to the final price of Encryption Management Solutions?

What are the raw materials used for Encryption Management Solutions manufacturing?

How big is the opportunity for the Encryption Management Solutions market?

How will the increasing adoption of Encryption Management Solutions for mining impact the growth rate of the overall market?

How much is the global Encryption Management Solutions market worth? What was the value of the market In 2020?

Who are the major players operating in the Encryption Management Solutions market? Which companies are the front runners?

Which are the recent industry trends that can be implemented to generate additional revenue streams?

What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Encryption Management Solutions Industry?

Customization of the Report

Can I modify the scope of the report and customize it to suit my requirements? Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.

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Detailed TOC of Global Encryption Management Solutions Market Insights and Forecast to 2031

Introduction

Market Segmentation

Executive Summary

Premium Insights

Market Overview

Encryption Management Solutions Market By Type

Encryption Management Solutions Market By Function

Encryption Management Solutions Market By Material

Encryption Management Solutions Market By End User

Encryption Management Solutions Market By Region

Encryption Management Solutions Market: Company Landscape

SWOT Analysis

Company Profiles

Continued...

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[blueweave]

India Trade Finance Market size at USD 1,205.67 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Trade Finance Market size to expand at a CAGR of 5.55% reaching a value of USD 2,466.46 million by 2030. The Trade Finance Market in India is propelled by the increasing volume of exports, improved cash flows driving business expansion, and the rise of clearing houses. The COVID-19 pandemic accelerated the adoption of remote management tools, such as optical character recognition (OCR), QR codes, and RFID readers, in trade and commerce operations. Over the last century, trade finance has played a pivotal role in the expansion of global trade, with bank-mediated transactions now constituting over a third of the trillions of dollars in global trade annually. In the wake of technological advancements, the India Trade Fnance Market is incorporating innovative technologies, including blockchain, artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). Technological integration is expected to further enhance the efficiency and scope of the Trade Finance Market in the country.

Opportunity - Increasing involvement of non-banking financial institutions

The increasing involvement of non-banking financial institutions (NBFIs) is revolutionizing the India Trade Finance Market, infusing it with vitality and innovations. Venture capitalists, insurance firms, and specialized financiers are catalyzing a shift by providing tailored financial solutions. The dynamic involvement not only fosters healthy competition but also addresses the intricate needs of small businesses. NBFIs, with their flexibility and sector-specific focus, propel the trade finance ecosystem forward, offering diverse avenues for capital investment. This transformative influence strengthens economic resilience, ensuring that the India Trade Finance Market remains adaptive and responsive to the evolving financial landscape.

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[jayanthitbrc]

Cloud Microservices Market: Unlocking Opportunities with Analysis, Growth Revenue, and Trends Forecast to 2033

Overview and Scope Cloud microservices are an architectural approach for constructing software applications or functionalities as a decentralized collection of autonomously deployable and manageable services. This service is used across various domains to build scalable, resilient, and agile applications that meet the evolving needs of businesses and users. Sizing and Forecast The cloud microservices market size has grown exponentially in recent years. It will grow from $1.55 billion in 2023 to $1.88 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%.  The growth in the historic period can be attributed to agility and time to market, flexibility and modularity, resilience and fault tolerance, data privacy and compliance, edge computing and IoT. To access more details regarding this report, visit the link: https://www.thebusinessresearchcompany.com/report/cloud-microservices-global-market-report Segmentation & Regional Insights The cloud microservices market covered in this report is segmented – 1) By Component: Platform, Services 2) By Deployment:  Public, Hybrid, Private 3) By Organization Size: Small And Medium Enterprises (Smes), Large Enterprises 4) By End-User Industry: Banking, Financial Services And Insurance, Retail, E-Commerce, Manufacturing, Telecommunication, Information Technology And Information Technology Enabled Services, Healthcare, Others End-Users North America was the largest region in the cloud microservices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud microservices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Intrigued to explore the contents? Secure your hands-on sample copy of the report: https://www.thebusinessresearchcompany.com/sample.aspx?id=14069&type=smp Major Driver Impacting Market Growth The growing retail and e-commerce is expected to propel the growth of the cloud microservices market going forward. Retail refers to the process of selling goods or services directly to consumers through physical stores or online channels, while e-commerce is the buying and selling of goods and services over the Internet. It arises due to internet penetration, shifting consumer preferences, and the convenience offered by online shopping. Key Industry Players Major companies operating in the cloud microservices market are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Salesforce.com Inc., Infosys Limited, Alibaba Cloud, Atos SE, Rackspace Hosting In. The cloud microservices market report table of contents includes: 1. Executive Summary 2. Market Characteristics 3. Market Trends And Strategies 4. Impact Of COVID-19 5. Market Size And Growth 6. Segmentation 7. Regional And Country Analysis . . . 27. Competitive Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis Contact Us: The Business Research Company Europe: +44 207 1930 708 Asia: +91 88972 63534 Americas: +1 315 623 0293 Email: info@tbrc.info Follow Us On: LinkedIn: https://in.linkedin.com/company/the-business-research-company   Twitter: https://twitter.com/tbrc_info   Facebook: https://www.facebook.com/TheBusinessResearchCompany   YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ   Blog: https://blog.tbrc.info/   Healthcare Blog: https://healthcareresearchreports.com/   Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model