5G NTN Market Size, And Share Analysis By 2030

The global 5G NTN Market size is expected to reach USD 23.5 billion by 2028 from USD 4.2 billion in 2023, at a CAGR of 40.7 % during 2023–2028, according to a new report by MarketsandMarkets™. The adoption of 5G NTN has experienced a remarkable surge in recent years; government initiatives worldwide are recognizing the significance of effective 5G NTN, investing heavily in infrastructure, and supportive policies. This includes spectrum allocation, subsidies for rural deployment, and research initiatives. The Federal Communications Commission (FCC) has auctioned off several mid-band and high-band spectrum licenses suitable for 5G NTN, encouraging private companies to invest in infrastructure and services.

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List of Key Players in 5G NTN Market:

• Qualcomm Technologies
• SoftBank Group Corporation (Japan)
• Thales Group (France)
• Rohde & Schwarz GmbH & Co KG (Germany)
• Keysight Technologies
• MediaTek Inc. (Taiwan)
• SES S.A. (Luxembourg)
• EchoStar Corporation (EchoStar) (US)
• SpaceX (US)
• AST & Science

By location, rural areas contributed the largest market share in the 5G NTN market during the forecast period.

The growing demand for 5G and broadband services in rural areas effectively narrows the digital divide by offering high-speed internet access to consumers in these regions. Prominent industry players are actively engaged in connecting rural areas, recognizing significant opportunities to extend their reach as Internet service providers.5G NTN solutions play a pivotal role in supporting multicasting broadcasting, IoT communication, the Internet of Vehicles, and the Internet of Remote Things in rural areas where terrestrial network coverage is limited. Key applications of 5G NTN in rural settings include fixed wireless access, network resilience, wide-area connectivity, disaster management, and emergency response, collectively contributing to comprehensive and robust digital connectivity solutions for rural communities.

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By application, the mMTC segment is projected to register the highest CAGR during the forecast period.

mMTC is designed to efficiently support an extensive number of online devices with high-density and extended-range capabilities. In mMTC connections, devices can intermittently broadcast small amounts of traffic to communicate with each other. The utilization of LEO satellites is favored for delivering mMTC services due to their reduced path loss and lower transmission delays. Anticipated as a key application area for 5G, mMTC holds significant promise in the realm of Internet of Things (IoT) and Machine-to-Machine (M2M) communication. The broader concept of IoT involves connecting objects, sensors, appliances, and various devices for data collection, control, and analysis. This encompasses applications in smart homes, security systems, logistics and tracking, energy management, healthcare, and diverse industrial operations. The integration of mMTC in the 5G framework is poised to play a crucial role in advancing connectivity for a myriad of IoT and M2M applications across various sectors.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

Anticipated as the fastest-growing market, Asia Pacific's ascent in 5G NTN solutions is attributed to the region's embrace of new technologies, heightened investments in digital transformation, and a rising GDP. Major revenue drivers include China, South Korea, and India, which are witnessing a substantial increase in smart device users. The Ericsson Mobility Report from June 2022 forecasts a remarkable surge in 5G subscriptions, expected to reach approximately 50 million by the end of 2023. Asia Pacific, with its vast population, holds the title of the largest contributor to global mobile subscribers, poised to attract even more subscribers in the forthcoming years. The region's commitment to improving public safety, especially in disaster and emergency scenarios, further propels the adoption of 5G NTN solutions.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

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Virtual Extensible LAN Market Share, Growth, Size | Industry Development And Forecast 2023-2030

The global Virtual Extensible LAN Market size is expected to reach USD 3.2 billion by 2029 from USD 1.6 billion in 2024, at a CAGR of 15.0 % during 2024–2029, according to a new report by MarketsandMarkets™. The shift towards network virtualization is driving demand for VXLAN. Virtualization allows organizations to create more agile and flexible network environments. VXLAN, by creating virtual networks overlaid on physical infrastructure, supports this trend by offering enhanced scalability and segmentation, essential for modern virtualized data centers and cloud environments.

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List of Key Players in Virtual Extensible LAN Market:

• Cisco Systems (US)
• Hewlett Packard Enterprise (US)
• VMware (US)
• Juniper Networks (US)
• Arista Networks (US)
• Nutanix
• (US)
• NVIDIA Corporation (US)
• Citrix Systems (US)
• Dell Technologies Inc (US)
• Microsoft Corporation
• (US)
• Huawei (China)
• Nokia Corporation (Finland)

The healthcare vertical segment is projected to register the highest CAGR during the forecast period.

Healthcare organizations rely on VXLAN to create secure, scalable networks that support the increasing use of digital health technologies and electronic health records (EHR). VXLAN enables the segmentation of sensitive patient data, ensuring compliance with regulatory requirements like HIPAA. It also facilitates seamless connectivity across different locations, supporting telemedicine, remote monitoring, and mobile health applications. By providing a flexible network infrastructure, VXLAN helps healthcare providers improve patient care and operational efficiency.

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The VXLAN Enabled Network Operating Systems (OS) software segment contributed the largest market share in the VXLAN  market during the forecast period.

VXLAN-enabled network operating systems (OS) provide the necessary software framework to support VXLAN features, such as the encapsulation and decapsulation of VXLAN packets and the management of VXLAN tunnels. Major network operating systems solutions, including Cisco's NX-OS, Arista's EOS, and Juniper's Junos, offer robust VXLAN support, enabling network devices to efficiently handle the complexities of network virtualization. These network operating systems platforms come with advanced features like automated provisioning, network segmentation, and policy enforcement. They are designed to optimize network performance and scalability, making them suitable for large-scale deployments in data centers and enterprise environments.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

The VXLAN market in the Asia Pacific region is expanding rapidly, driven by significant investments in cloud infrastructure and data center modernization. Countries like China, India, and Japan are at the forefront of this growth, with major cloud service providers and enterprises upgrading their network infrastructures to support digital transformation initiatives. The increasing adoption of cloud computing, along with the need for scalable, multi-tenant network environments, has propelled the demand for VXLAN. Additionally, the proliferation of IoT devices in sectors such as manufacturing, smart cities, and healthcare is creating a need for robust network solutions that can handle extensive, dispersed endpoints while ensuring high performance and security. VXLAN addresses these needs by providing scalable network segmentation and efficient traffic management, essential for managing large-scale, dynamic networks.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

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Identity Threat Detection and Response Market Size, Share, Trends, And Forecasted Growth For 2023-2030

The global Identity Threat Detection and Response Market size is projected to grow from USD 12.8 billion in 2024 to USD 35.6 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 22.6% during the forecast period, at a Compound Annual Growth Rate (CAGR) of 25.9% during the forecast period, according to a new report by MarketsandMarkets™. The expansion of identity threat detection and response (ITDR) is propelled by the continuously evolving global threat landscape and combating threat-targeting identities and identity systems. ITDR provides response strategies ensuring the protection of sensitive and confidential data.

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Identity Threat Detection and Response Market Dynamics:

Drivers:

1. Rise in user identity targeted cyber crimes
2. Evolving remote work landscape.
3. Growing regulatory environment

Restraints:

1. Navigating complexities of solutions for small businesses.
2. Privacy concerns due to collection of extensive user activity data
3. Difficulty in distinguishing between genuine threats and false alarms

Opportunities:

1. Inclusion of AI/ML.
2. Growing trend toward cloud-based services
3. Improving communication and data exchange through integration of systems

List of Key Players in Identity Threat Detection and Response Market:

• Microsoft (US)
• IBM (US)
• CrowdStrike (US)
• Zscaler (US)
• Tenable (US)
• Veronis (US)
• BeyondTrust (US)
• CyberArk (US)
• Proofpoint (US)
• Quest (US)

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Governments worldwide increasingly emphasize the importance of robust identity threat detection and response (ITDR) solutions to counter growing cyber threats and safeguard critical infrastructure. Key initiatives include funding research and development grants, supporting startups through grants and incubator programs, and enforcing data privacy regulations like GDPR and CCPA. They also promote cybersecurity frameworks, critical infrastructure protection standards, and public awareness campaigns. Collaboration with the private sector, through partnerships and procurement policies, further drives ITDR market growth. These efforts underscore a global recognition of ITDR's significance in enhancing digital security and compliance with industry regulations.

"By deployment mode, the cloud segment is expected to demonstrate the highest growth rate in the identity threat detection and response market during the forecast period."

The Identity Threat Detection and Response (ITDR) market is experiencing a notable shift towards cloud-based deployments, which are projected to dominate in the coming years. Cloud solutions offer various advantages, including scalability, reduced infrastructure costs, faster deployment, improved accessibility, and automatic updates. With businesses increasingly adopting cloud technologies and prioritizing agility and innovation, cloud-based ITDR solutions align well with this evolving landscape. The cybersecurity skills shortage further drives the preference for cloud solutions, given their built-in automation and ease of management. While on-premise ITDR solutions may still be favored in scenarios with stringent data security requirements, the overall trend favors cloud-based deployments due to their scalability, agility, and cost-effectiveness. Cloud providers continue to innovate and enhance their offerings, making them increasingly attractive to businesses of all sizes, ultimately shaping the dominance of cloud-based ITDR in the foreseeable future.

“Based on organization size, the SMEs segment is projected to exhibit the highest growth rate at the highest CAGR during the forecast period.”

The Identity Threat Detection and Response (ITDR) market is set for significant growth, particularly among Small and Medium-Sized Enterprises, driven by several key factors. SMEs face increased vulnerability due to limited security resources, a growing reliance on digital tools, and evolving cyber threats. Heightened awareness of cyber risks and emerging data privacy regulations are pressuring SMEs to invest in ITDR solutions. The affordability and scalability of cloud-based ITDR solutions further contribute to SME adoption. These solutions offer improved threat detection, enhanced user access control, and simplified compliance management, positioning SMEs as pivotal drivers of growth in the ITDR market.

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“Asia Pacific is anticipated to experience substantial growth with the highest CAGR  in the identity threat detection and response market during the forecast period. “

The Identity Threat Detection and Response (ITDR) market is experiencing remarkable growth globally, particularly in the Asia-Pacific region, where it is projected to witness the highest Compound Annual Growth Rate. This surge is fueled by several factors specific to the area. APAC's rapid digital transformation, propelled by adopting cloud computing, mobile technologies, and e-commerce platforms, creates an expanded attack surface for cyber threats. Heightened regulatory focus on data privacy regulations in countries like China, India, and Australia drives the demand for robust ITDR solutions to ensure compliance. The emergence of domestic cybersecurity vendors in APAC and the increasing adoption of cloud-based ITDR solutions contribute to market growth. Government initiatives, such as heavy investments in cybersecurity infrastructure and public-private partnerships, create a supportive environment for the ITDR market's expansion. Despite facing challenges like a shortage of skilled cybersecurity professionals, the APAC region's unique dynamics position it as a key driver of ITDR market growth. It is crucial in protecting critical infrastructure and businesses against cyber threats in the digital age.

Market Players

The major players in the identity threat detection and response market are Microsoft (US), IBM (US), CrowdStrike (US), Zscaler (US), Tenable (US), Veronis (US), BeyondTrust (US), CyberArk (US), Proofpoint (US), Quest (US), Oort(US), Vectra (US), Proficio (US), Qomplx (US), Adaptive Shield ( Israel), Acalvio (US), Authomize (Israel), Illusive (US), Mindfire (UAE), Rezonate (US), Semperis (US), Sentinelone (US), Silverfort (Israel), Netwrix (US), Vericlouds (US), Microminder (UK), Quorum Cyber (UK) and Mixmode (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Predictive Maintenance Market Innovations, Technology Growth and Research -2030

The global Predictive Maintenance Market size is estimated to grow from USD 10.6 billion in 2024 to USD 47.8 billion in 2029, at a CAGR of 35.1% during the forecast period, according to a new report by MarketsandMarkets™. The driving factors for the predictive maintenance market include the widespread adoption of emerging technologies like IoT sensors and data analytics, enabling real-time monitoring of equipment health.

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Predictive Maintenance Market Dynamics:

Drivers:

1. Advent of ML and AI.
2. encouraging predictive maintenance vendors and service providers to adopt digitized systems for in-store activities

Restraints:

1. Lack of skilled workforce.

Opportunities:

1. Enhanced asset management is increasingly essential across diverse industries.
2. Real-time condition monitoring to assist in taking rapid actions

List of Key Players in Predictive Maintenance Market:

·         IBM (US)

·         ABB (Switzerland)

·         Schneider Electric (France)

·         AWS (US)

·         Google (US)

·         Microsoft (US)

·         Hitachi (Japan)

·         SAP (Germany)

·         SAS Institute (US)

·         Software AG (Germany)

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The integration of machine learning (ML) and artificial intelligence (AI) algorithms allows for predictive analysis of potential failures, reducing downtime and optimizing asset performance. Organizations are increasingly focused on cost savings and operational efficiency, driving the need for proactive maintenance strategies to minimize unplanned downtime and maximize productivity. Additionally, regulatory requirements and the shift towards predictive analytics-driven decision-making further contribute to the growth of the predictive maintenance market.

By component, the services segment to account for higher CAGR during the forecast period.

The services segment plays a crucial role in the predictive maintenance market, serving as a core component essential for the efficient operation of software solutions. Many companies are turning to intelligent devices, robust AI systems, and Industrial Internet of Things (IIoT) solutions to monitor the health and productivity of critical equipment, aiming to minimize costly production shutdowns. Remote monitoring of machinery and equipment has become a significant priority for organizations grappling with challenges in detecting machinery failures. The adoption of predictive maintenance services, including IoT, has become imperative to mitigate the risks and failures of machines across various industries. Within the services segment, managed and professional services are considered vital for enhancing overall process efficiency.

By Technique, Vibration Analysis is expected to hold the largest market size for the year 2024.

Vibration analysis is a crucial technique employed primarily for high-speed rotating equipment in predictive maintenance strategies. It enables technicians to monitor the vibrations of machines using handheld analyzers or real-time sensors integrated into the equipment itself. Machines operating optimally exhibit specific vibration patterns, which can be compared against known standards. However, as components like bearings and shafts wear down or develop faults, they generate distinct vibration patterns, signaling potential issues. By continuously monitoring equipment vibrations, trained technicians can identify deviations from normal patterns and diagnose problems early on. The range of issues detectable through vibration analysis is extensive and includes misalignment, bent shafts, unbalanced components, loose mechanical parts, and motor irregularities.

By Vertical, Automotive & Transportation is projected to grow at the highest CAGR during the forecast period.

As automotive technology progresses rapidly, traditional fault detection methods are inadequate for ensuring vehicle smoothness. However, modern automobiles are equipped with various sensors, instruments, and cameras that generate diverse data. Leveraging this data, past service records, and employing AI and ML, predictive maintenance in the automotive & transportation sector emerges as a powerful solution to enhance vehicle performance and minimize downtime. The surge in intelligent technologies has spurred predictive maintenance investments in transportation, particularly accelerated by the Covid-19 crisis, where consumer preferences shifted towards individual mobility due to health and safety concerns, leading to an increased demand for cars. This demand surge, coupled with slowed new vehicle production, is driving the resurgence of the used car market. Predictive maintenance plays a crucial role in reducing the lifespan of used cars and preventing unexpected downtimes. Solutions like IBM's monitoring for connected vehicles and collaborations between automakers and tech companies like Ford, CARUSO, and HIGH MOBILITY showcase the industry's commitment to leveraging predictive maintenance for improved operations and customer services.

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Middle East & Africa is expected to grow at the second-highest CAGR during the forecast period.

The Middle East & Africa (MEA) lacks technological development as well as primary business growth in many verticals. Slow economic growth and geopolitical conditions are the major hurdles to the growth of the predictive maintenance market in the region. Moreover, it generates the majority of the revenues from natural resources. The government policy in the United Arab Emirates (UAE) is supportive of the industry with the vision to be one of the most technologically advanced nations by 2022. The proliferation of telecom and IT-enabled industry in the African countries is steering the growth of AI-based IoT companies in the region. The major reasons that are said to influence the growth of the predictive maintenance market in the region are the increasing investments in data center infrastructures and the growing number of high-growth start-ups. Only a few countries, such as the UAE, Israel, and Qatar, across the region, are advancing in this market at an economical pace. The UAE, Israel, and Qatar have demonstrated a strong commitment toward the development and implementation of AI and IoT technologies.

The major predictive maintenance hardware, solution and service providers include IBM (US), ABB (Switzerland), Schneider Electric (France), AWS (US), Google (US), Microsoft (US), Hitachi (Japan), SAP (Germany), SAS Institute (US), Software AG (Germany), TIBCO Software (US), Altair (US), Oracle (US), Splunk (US), C3.ai (US), Emerson (US), GE (US), Honeywell (US), Siemens (Germany), PTC (US), Dingo (Australia), Uptake (US), Samotics (Netherlands), WaveScan (Singapore), Quadrical Ai (Canada), UpKeep (US), Limble (US), SenseGrow (US), Presage Insights (India), Falcon Labs (India). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the predictive maintenance market.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

 

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

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Northbrook, IL 60062

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Email: sales@marketsandmarkets.com

 

 

5G Services Market Trends, Latest Research, Size, Business Analysis To 2028

The global 5G Services Market size is estimated at USD 98.3 billion in 2023 to USD 427.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 34.2%, according to a new report by MarketsandMarkets™. The innovative concept of network slicing in 5G represents a transformative leap in network customization, offering virtual, dedicated slices tailored to the unique requirements of specific applications or services. This capability is a pivotal driver for the diverse range of use cases enabled by 5G technology. For massive IoT deployments, network slicing allows the creation of dedicated slices optimized for handling many connected devices with varying communication needs.

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5G Services Market Dynamics:

Drivers:

1. Increase in mobile network data traffic.
2. Need to transform mobile broadband experience
3. Accelerated digital transformation across verticals

Restraints:

1. High deployment costs.

Opportunities:

1. Global proliferation of Fixed Wireless Access (FWA).
2. Increase in demand for high reliability and low latency networks

Top Companies in 5G Services Market:

• AT&T (US)
• China Mobile (China)
• Verizon Communications (US)
• Deutsche Telekom AG (Germany)
• Vodafone Group (UK)
• SK Telecom (South Korea)
• BT Group (UK)

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“Based on communication type, the eMBB segment to hold the largest market size during the forecast period.”

The promise of significantly faster data speeds with 5G stands as a pivotal market driver for Enhanced Mobile Broadband (eMBB), reshaping the landscape of user experiences. This accelerated speed is a transformative force, particularly for data-intensive applications that have become integral to contemporary lifestyles. The ability of 5G to deliver higher download and upload speeds serves as a cornerstone for the flourishing demand in areas such as high-definition video streaming, virtual reality, and augmented reality. In the realm of video streaming, 5G facilitates seamless, buffer-free streaming of high-quality content, enhancing the user's entertainment experience. Moreover, in the realm of immersive technologies like virtual and augmented reality, the faster data speeds of 5G contribute to reduced latency, ensuring a more responsive and realistic user experience. This heightened speed not only meets current consumer expectations but also unlocks the potential for novel applications and services, driving market growth as businesses and consumers alike seek the enhanced capabilities that 5G brings to the forefront.

“By end user, enterprise segment is expected to hold a higher growth rate during the forecast period.”

Enterprises across various sectors are increasingly drawn to the deployment of private 5G networks as a strategic driver within the enterprise segment. This trend is particularly pronounced in industries where having dedicated and reliable communication networks is imperative for driving automation, robotics, and process optimization. Private 5G networks offer businesses a higher degree of control over their connectivity infrastructure, providing a dedicated and secure environment for mission-critical applications. In sectors like manufacturing, for instance, where seamless communication between machines and devices is essential for operational efficiency, private 5G networks serve as a foundational technology. The ability to tailor network parameters and allocate resources according to specific business needs empowers enterprises to optimize their connectivity for diverse applications. This adaptability, coupled with the low-latency and high-bandwidth characteristics of 5G, positions private networks as a key enabler for realizing the full potential of Industry 4.0, smart factories, and other advanced technologies within the enterprise landscape. The pursuit of these benefits propels the adoption of 5G in the enterprise sector, fostering a paradigm shift in how businesses approach and leverage their connectivity infrastructure.

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“North America is expected to hold the second largest market size during the forecast period.”

The deployment of 5G infrastructure in North America is considered a powerful catalyst for economic growth, job creation, and technological innovation. The robust and high-speed connectivity offered by 5G networks serves as a foundational element for various industries, from telecommunications and manufacturing to healthcare and smart cities. As businesses embrace the capabilities of 5G, they stimulate demand for advanced technologies, such as the Internet of Things (IoT), edge computing, and artificial intelligence. This surge in technological adoption, coupled with the need for skilled professionals to design, implement, and manage 5G networks, contributes to job creation and the growth of a specialized workforce. Furthermore, the public and private sectors recognize the potential for 5G to drive economic competitiveness on a global scale. Consequently, increased investments are being made to develop and expand 5G infrastructure, fostering an ecosystem that not only meets current connectivity needs but also positions North America at the forefront of technological innovation and economic development.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Security Service Edge Market Size, Share, Application Analysis, Regional Outlook, Competitive Strategies & Forecast Up To 2030

The SSE market is expected to reach USD 2.8 billion by 2028 from USD 0.8 billion in 2023, at a CAGR of 25.4 % during 2023–2028. The adoption of SSE has experienced a remarkable surge in recent years, driven by integration of a cloud access security broker (CASB) into an organization's security framework. This integration plays a pivotal role in addressing the challenges brought about by the widespread adoption of Software as a Service (SaaS) applications, often referred to as the "SaaS explosion." CASBs are purpose-built to provide organizations with the necessary tools to monitor, control, and secure data in the cloud. They offer visibility, data protection, and compliance enforcement for cloud-based applications, which is crucial in a landscape where data resides both on-premises and in the cloud.

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Security Service Edge Market Drivers:

• Rising need for unified network security architecture.
• Integration of a Cloud Access Security Broker (CASB).
• Zero Trust Access Driving Security Service Edge (SSE) Adoption.

Security Service Edge Market Restraints:

• Integration Complexity.
• Interoperability issues may arise during integration.

Security Service Edge Market Opportunities:

• Cost savings by combining multiple security and network access.
• By consolidating various security and networking tools into a single SSE platform.

Security Service Edge Market Challenges:

• Traffic Aggregation and User Experience.

By integrating CASBs with SSE or Secure Access Service Edge (SASE) solutions, organizations create a holistic security ecosystem. This comprehensive approach extends uniform security policies and controls across the entire network, encompassing remote work scenarios and cloud resources. CASBs excel in safeguarding data, offering features like data loss prevention (DLP), encryption, and threat detection. Moreover, they ensure compliance with industry regulations, enabling organizations to navigate complex data privacy and security requirements. CASBs also provide real-time visibility into cloud application usage, enabling proactive security measures based on user behavior and context. As the SaaS landscape continues to evolve, CASBs remain adaptable, accommodating new services and threats to maintain the security and compliance of organizations in the dynamic digital environment.

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The Cloud Access Security Broker (CASB) registers the second highest market size in the SSE market during the forecast period.

Cloud Access Security Brokers (CASBs) are vital security solutions that help organizations manage and safeguard their data as it traverses multiple SaaS applications and cloud environments, whether within their on-premises data centers or accessed by mobile workers. CASBs serve as intermediaries between an organization's security policies and the cloud resources, ensuring that authorized users can securely access and consume these resources while consistently enforcing security, governance, and compliance measures. There are two primary types of CASBs available: traditional CASBs and integrated CASBs.

The BFSI segment is projected to register highest CAGR during the forecast period.

The BFSI industry deals with sensitive financial data and customer information and demands rigorous security measures to safeguard against data breaches and cyber threats. In this context, financial institutions and insurance companies must implement robust SSE solutions encompassing secure access controls, encrypted communications, and continuous monitoring.

With the ever-increasing reliance on digital platforms for financial transactions and customer services, SSE ensures the protection of sensitive financial data and maintains compliance with stringent industry regulations. It enables secure online banking, safeguards against cyber threats such as fraud and data breaches and ensures the continuity of essential services. Moreover, SSE supports the secure remote access of financial professionals and the seamless integration of new fintech applications, bolstering the industry's agility and competitive edge. As cybersecurity remains a paramount concern in the BFSI sector, SSE provides a robust defense against evolving threats while facilitating the delivery of secure and efficient financial services to customers.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

APAC countries are highly concerned about the increase in security spending due to the ever-growing threat landscape. The region comprises emerging economies, such as China, Japan, and India. With effective government regulations and technological advancements, SSE is witnessing high growth opportunities in this region. The Asia Pacific SSE market is experiencing substantial growth, primarily driven by the increasing acceptance of remote work, cloud adoption, and the imperative for enhanced security in remote work environments. The COVID-19 pandemic, which necessitated rapid remote work adoption, prompted significant investments in security control systems to protect remote employees. While the pandemic played a pivotal role in driving the SSE market, a surge in highly sophisticated cyberattacks targeting critical infrastructure and government entities has further compelled organizations in the region to bolster their investments in SSE technologies.

Top Key Players:

The report profiles key players such as Netskope (US), ZScaler (US), Palo Alto Networks (US), Cisco (US), Broadcom (US), Forcepoint (US), Lookout (US), iBoss (US), Skyhigh Security (US), Cloudflare (US), Trend Micro (Japan), Akamai (US), Fortinet (US), Aruba Networks (US), Citrix (US), Cato Networks (Israel), Perimeter81 (Israel), Open Systems (Switzerland), Menlo Security (US).

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

M2M Satellite Communication Market Growth Insight, Size, Share, Trends, Regional Forecast To 2030

The global M2M Satellite Communication Market size is estimated to grow from USD 15.5 billion in 2023 to USD 28.7 billion in 2028, at a CAGR of 13.1% during the forecast period, according to a new report by MarketsandMarkets™. The M2M satellite communication market revolves around the use of satellite networks to facilitate seamless communication between machines and devices globally. It enables remote connectivity across diverse industries, offering robust, reliable, and often real-time data transfer for applications in areas where traditional terrestrial networks may be limited or unavailable. This market segment continues to grow due to its ability to support IoT, remote monitoring, asset tracking, and other critical operations in challenging environments.

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M2M Satellite Communication Market Dynamics:

Drivers:

1. Escalating need for enriched data communication.
2. Surge in IoT proliferation
3. Growing demand for monitoring and remote management of connected devices

Restraints:

1. Limited bandwidth and latency issues.
2. Cost constraints hindering widespread adoption of M2M satellite communications

Opportunities:

1. Co-existence of satellite and terrestrial communications solutions.
2. Global connectivity in remote areas

List of Key Players in M2M Satellite Communication Market:

• Marlink (France)
• Viasat (US)
• Thales (France)
• ORBCOMM (US)
• Iridium Communications (US)
• Globalstar (US)
• Orange (France)
• EchoStar (US)
• Intelsat (US)
• Rogers Communications (Canada)

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By offering the services segment to account for higher CAGR during the forecast period.

The M2M satellite communication market offers a diverse array of services tailored to connect and manage devices across industries. Data services facilitate seamless information exchange between remote devices, enabling real-time monitoring and control. Voice services provide instant communication in areas with limited terrestrial networks, ensuring reliable voice connectivity. Satellite services, including telemetry and remote monitoring, leverage satellite networks for global coverage, enabling effective asset tracking and environmental monitoring. Security services address the need for robust data protection and secure communication, safeguarding sensitive information. Business services encompass consultancy, project management, and ongoing support, ensuring organizations derive maximum value from their M2M deployments.

By Technology, Satellite Constellation is expected to hold the largest market size for the year 2023.

Satellite constellations provide extensive coverage and enhance the reliability of communication services. M2M communication involves the exchange of data between devices or systems without human intervention, and satellite constellations contribute to this by ensuring global connectivity. One notable example is the deployment of Low Earth Orbit (LEO) satellite constellations, where multiple small satellites operate in synchronized orbits at relatively low altitudes. The interconnected nature of these constellations facilitates seamless communication between devices across various industries, including agriculture, transportation, and environmental monitoring.

The energy and utilities vertical is projected to grow at the highest CAGR during the forecast period.

With energy assets dispersed across remote and often challenging environments, M2M satellite communication offers a robust solution for real-time data transmission and control. Satellite communication technology allows for the seamless connectivity of devices such as sensors, smart meters, and monitoring equipment, enabling utilities to remotely manage and optimize their energy distribution networks. This is particularly crucial for power grid operations, where M2M solutions ensure continuous data flow, aiding in fault detection, grid stability management, and response to dynamic energy demands.

Europe is expected to hold the second-largest market size for the estimated year.

The M2M satellite communication market in Europe is characterized by the collaborative efforts of major countries such as Germany, France, Italy, Spain, and others. Germany, with its robust space industry, leads in secure satellite communications with programs like SPAINSAT NG, showcasing advancements in military capabilities. France, through initiatives like the Syracuse 4B military satellite and collaboration with India on satellite constellations, emphasizes innovation and international partnerships. Italy, with the COSMO-SkyMed constellation and SICRAL 3 secure communications system, plays a significant role in Earth observation and defense communication. Other European countries, including The Netherlands, Switzerland, and Sweden, contribute expertise in areas like Earth observation, precision engineering, and scientific research, enhancing the overall landscape of M2M satellite communication.

The major M2M satellite communication hardware, software and service providers include Marlink (France), Viasat (US), Thales (France), ORBCOMM (US), Iridium Communications (US), Globalstar (US), Orange (France), EchoStar (US), Intelsat (US), Rogers Communications (Canada), SES (Luxembourg), Gilat (Israel), Telia (Sweden), Kore Wireless (US), Honeywell (US), Qualcomm (US), Telesat (Canada), Wireless Logic (England), Outerlink Global Solutions (US), Nupoint Systems (Canada), Businesscom Networks (US), Semtech (US), Yahsat (UAE). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the M2M satellite communication market.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

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

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

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

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

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

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com