Product Lifecycle Management Market 2024 Emerging Trends | Challenges, Application Scope, Size, Status

Product Lifecycle Management Market size to grow from USD 50.7 billion in 2019 to USD 73.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period according to report published by MarketsandMarkets. Major factors expected to drive the growth of the product lifecycle management market include growing focus on developing groundbreaking smart products and factories, increasing need to build product innovation platform would support product lifecycle management-enabled applications, and increasing demand for cloud-based product lifecycle management solutions for scalability and secure IT infrastructure.

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By Component, the services segment to hold the largest market size during the forecast period

VoD services have a full scope of usage, ranging from assistance to customers for deployment of solution, integration, and implementation, to cater to the specific needs of customers. VoD services help customers bridge legacy systems to modern applications and take care of training and implementation work so that customers can focus on their core business. This has created opportunities for vendors to provide services to enterprises across different industry verticals and help them deal with complexities while configuring the VoD solution.

OTT services segment to hold the largest market size during the forecast period

The inception of Over-the-top (OTT) video streaming platforms, such as Netflix, Hotstar, and Amazon Prime, coupled with the growing internet penetration, is responsible for the growth of digital video consumption. OTT services enable individual viewership, thereby offering the comfort of viewing at one’s convenience in terms of time, place, and device. Moreover, OTT services is gaining traction among global audiences as it offers a wide variety of payment and viewing options that enables them to free themselves of contracts that their cable providers locked them into.

Subscription-based segment to hold the largest market size during the forecast period

The subscription model owes its success to the optimal balance of value it provides to both the company and the customer. Subscription pricing strategies can be made according to functionality, discounted to motivate bulk purchases, metered according to usage levels, or optimized to reward loyalty.

Subscription-based Video on Demand (SVoD) is mainly driven by changing viewing habits and the increasing availability of video content from a range of service providers, such as online media companies, Pay-TV operators, and broadcasting companies. Moreover, the increasing coverage and adoption of high-speed fixed and mobile networks enable better delivery of video streaming services, helping to drive the adoption of VoD services, globally.

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North America to hold the largest market size during the forecast period

Countries that contribute the most to the VoD market in North America include the US and Canada; the reason for the dominance of these countries is their well-established economies, which enable investments in new technologies. North America being the most developed region, is home to large verticals that are capable of investing in reliable and advanced IT infrastructure for growing data traffic, thereby opening new opportunities for the adoption of VoD solution.

Market Players

Key market players profiled in this report are Netflix (US), Amazon (US), Google (US), YouTube (US), Apple (US), HBO (US), Cisco (US), Roku (US), IndieFlix (US), Vudu (US), Hulu (US), Comcast (US), Akamai (US), Huawei (China), Fujitsu (Japan), CenturyLink (US), Muvi (US), and Vubiquity (US).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Oil and Gas Security and Service Market 2025 Share, Trend | Overview, Global Industry Size, Price, Future Analysis

Oil and Gas Security and Service Market size is expected to grow from USD 25.3 billion in 2020 to USD 32.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period according to report published by MarketsandMarkets. Increased expenditure by oil and gas companies on network and physical security is one of the major factors driving the growth of the market.

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Managed services to account for the highest market share during the forecast period

Rising levels of cyber-attacks and terrorist activities have made it difficult for most of the oil and gas companies to manage the security of their infrastructure. Thus, it empowers the oil and gas companies to implement managed security services. These managed services provide end-to-end security solutions which include managed threat monitoring and vulnerability assessment, managed network security services, and SCADA security. Moreover, managed services help organizations to focus more on their core objectives of the oil and gas business.

Midstream segment to grow at a higher CAGR during the forecast period

The midstream operation segment in the oil and gas sector includes shipping and storage of oil retrieved from the upstream sector. Logistics and transportation are the main facets of the midstream operation. The midstream segment generates a humungous amount of data through pipelines and other storage facilities. Supervisory Control and Data Acquisition (SCADA) system play a key role in digitizing and streamlining the midstream sector. Moreover, midstream operators use SCADA system to monitor and manage all field instruments utilized across the entire oil or gas flow in the pipes. Thus, the target of hackers are the SCADA systems, which are directly connected to the control networks that govern mission-critical oil and gas processes. To prevent these systems, many oil and gas companies are updating and boosting their cybersecurity capabilities.

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North America to lead the oil and gas security and service market during the forecast period

North America is expected to account for the highest share of the oil and gas security and service market in 2020. The region comprises developed countries, such as the US and Canada, and is considered the most oil producing region and also early adopter of advanced technologies. The North American region exhibits a wide presence of key industry players offering oil and gas security solutions and service, and its financial position enables the region to invest majorly in leading tools and technologies for effective business operations.

Cisco (US), NortonLifeLock (US), Honeywell (US), Siemens (Germany), Microsoft (US), Lockheed Martin (US), ABB (Switzerland), Parsons (US), Fortinet (US), Trend Micro (Japan), Forescout (US), GE (US), Synectics (UK), Intel (US), Speedcast (Australia), Booz Allen (US), Thales (France), HCL (India), IBM (US), BAE Systems (UK), Sophos (UK), Xage Security (US), Waterfall Security Solutions (Israel), Nozomi Networks (US), CNL Software (UK), Moxa (Taiwan), GPS Security (Canada), Athos (US), TSN (US), and J&G Security (US) are some of the major companies operating in this market.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Military Communications Market 2025 Global Size | Future Outlook, Share, Trends, Type, Application

Military Communications Market size to grow from USD 33.4 billion in 2020 to USD 40.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period according to report published by MarketsandMarkets. The key factors driving the growth of the military communications market include the rising security concerns and the procurement of military communication solutions due to an increase in disputes among different countries across the world.

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The world has witnessed several pandemics, yet nothing has come close to the current global pandemic. The COVID-19 began as a regional virus but quickly spread all over the world. The United Kingdom, France, and Germany account for up to 50% of overall European spending on defense. Due to the economic impact of the Covid-19 crisis on overall budgets, these countries are likely to implement cuts to their military expenditure in the near term, bringing down the overall European average. The effect will be relatively long-lasting, and their combined defense spend in 2031 will be around USD 25 billion, less than initially expected. Several countries and their armies are making sure that soldiers supporting local and state governments fight against COVID-19 are equipped with the latest situational awareness and communication systems.

The airborne communication segment to hold a larger market size during the forecast period

The communication type segment comprises airborne, air-ground, underwater, ground-based, and shipborne communications. The airborne communication segment is expected to hold a larger market share during the forecast period. The key trend contributing to this market growth is the increased focus and investment to enhance the capabilities of air forces. Several countries, such as the US, the UK, Russia, Israel, India, Japan, Singapore, and China, have increased their spending to strengthen their air forces, which is expected to enhance the expenditure on airborne communications. The underwater communications segment is projected to grow at the highest CAGR during the forecast period.

The military SATCOM systems segment to hold the largest market size during the forecast period

The military communications market by component has been segmented into military SATCOM systems, military radio system, military security system, and communication management system. Among components, the military SATCOM systems segment is expected to hold the largest share of the military communications market. Most of the technologically advanced countries rely on SATCOM communications due to broader coverage, easy installation, security, and location independence. With the advent of SDR, the military radio systems segment is projected to grow at a decent pace. Security concerns are expected to boost the adoption of military security systems, thus driving the growth of the military security systems segment.

The command and control segment to hold the largest market size during the forecast period

The military communications market by applications has been segmented into command and control, routine operations, situational awareness, and others. The command and control segment is estimated to account for the largest share of the military communications market due to the need for integrated and interoperable capabilities to establish proper control over military operations.

The air forces segment to hold the largest market size during the forecast period

The military communications market by end users has been segemented into land forces, naval forces, and air forces. Among end users, the air forces segment is projected to grow at the fastest rate, whereas the land forces segment is expected to be the major contributor to the market.

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North America to hold the largest market size during the forecast period

The military communications market has been segmented into five regions: North America, Europe, APAC, MEA, and Latin America. North America is projected to hold the largest market size during the forecast period due to the increasing technological advancements in the region. APAC is expected to witness the highest growth rate during the forecast period. It is also expected to be the fastest-growing region in the military communications market.

Major vendors in the global Military Communications Market include ASELSAN (Turkey), BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Cobham (UK), Elbit Systems (Israel), General Dynamics (US), Harris Corporation (US), Thales (France), Viasat (US), Inmarsat (UK), Iridium (US), Systematic (Denmark), Leonardo (Italy), Israel Aerospace Industries (Israel), Rheinmetall (Germany), Rolta (India), Rufus Lab (US), Vantage Robotics (US), CRON Systems (UK), Fortem Technologies (US), Airspace Systems (US), Citadel Defense (US).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

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USA: +1-888-600-6441

Insurance Fraud Detection Market 2024 Share, Trend | Overview, Global Industry Size, Price, Future Analysis

Insurance Fraud Detection Market size is expected to grow from USD 2.5 billion in 2019 to USD 7.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 25.8% during the forecast period according to report published by MarketsandMarkets. The major aspects driving the market are the need to effectively manage huge volumes of identities by organizations; improving operational efficiency & enhancing the customer experience; increasing adoption of advanced analytics techniques; and stringent regulatory compliances. The insurance fraud detection market is growing drastically on account of the proliferation of cloud-based services in the insurance sector and increasing threats & frauds in this sector.

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Authentication solution segment to grow at the highest CAGR during the forecast period

The authentication technology refers to the process of verifying the identity of the users, devices, or systems. Authentication plays a crucial role in the insurance fraud detection market. Fraud authentication helps enterprises to protect customer identity from the fraudsters. While fraud analytics helps detect fraudulent activities and the possibilities of fraud incidents happening in the future, fraud authentication is more inclined toward the prevention of such cases. Fraud authentication helps enterprises maintain the credibility of transactions/information by blocking unauthorized access to the information or identifying false inputs from the users. Based on the use cases and complexity, authentication solutions can be categorized as Single-Factor Authentication (SFA), and Multi-Factor Authentication (MFA) and the increasing need for simple and less complex SFA and MFA authentication solutions will fuel the demand for authentication solutions.

Managed services to grow at the highest CAGR during the forecast period

An increase in the number of customers demanding for managed services across the globe is expected to result in higher growth of these services. Managed services, which include managing databases and collecting data, are outsourced to managed service providers (MSP). Managed security service providers (MSSPs) offer specialized security services to other companies. Managed Security Services (MSS) are available in many forms such as pure system management, sophisticated fraud investigators, on-premises device monitoring and management services, and cloud services. Since these services require attention regularly, it becomes difficult for insurance organizations to manage them along with their core business operations. As a result, these companies are rapidly outsourcing their insurance fraud detection services to specialized service providers known as MSSPs.

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North America to account for the largest market size during the forecast period

The global insurance fraud detection market has been segmented based on regions into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America, followed by Europe, is estimated to become the largest revenue-generating region for insurance fraud detection solution and service vendors in 2019. Trends such as the Internet of Things (IoT), cloud adoption, and Bring Your Own Device (BYOD); and growing internal & external threats are some of the key factors expected to fuel the growth of the market in North America.

The APAC market is gaining traction, as the number of smart devices and BYOD trend are increasing in the developed and developing nations in APAC. The SMEs, as well as large enterprises in APAC, are becoming increasingly aware of the rising instances claims fraud, identity thefts, payment frauds, and have now started adopting insurance fraud detection solutions and services to combat them.

Key Market Players

Major vendors that offer insurance fraud detection services across the globe are FICO (US), IBM (US), BAE Systems (UK), SAS Institute (US), Experian (Ireland), LexisNexis (US), iovation (US), FRISS (Netherlands), SAP (Germany), Fiserv (US), ACI Worldwide (US), Simility (US), Kount (US), Software AG (Germany), BRIDGEi2i Analytics Solutions (India), and Perceptiviti (India). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and acquisitions, to expand their offerings in the market.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Blockchain IoT Market 2026 Price Trend | Opportunities, Demand, Size Estimation

 Blockchain IoT Market size is projected to grow from USD 258 million in 2020 to USD 2,409 million by 2026, at a Compound Annual Growth Rate (CAGR) of 45.1% during the forecast period according to report published by MarketsandMarkets™. The growing need for IoT security, simplified processes supported with transparency and immutability, and high adoption of blockchain-based IoT solutions using smart contracts and AI is expected to surge demand for blockchain IoT market globally.

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By component, the software and platform segment to register the highest growth rate during the forecast period

The software for blockchain IoT connects network-based requests placed by users for accessing backend data to the network. The blockchain software components consist of node application, consensus mechanism, virtual machines, and shared ledger. Blockchain helps cumulate technical and business information, fraud detection results, and user behavior data with the rest of the enterprise architecture via real-time demand tools. Software tools help visualize insights for quick and simple data gathering and enhanced predictive capabilities. A blockchain software integrated with IoT ensures secure device communication. The blockchain IoT platform is expected to witness wide adoption during the forecast period as an increasing number of enterprises of all sizes are realizing the benefits offered by this platform. The blockchain IoT software helps enterprises carry out complex tasks in a decentralized digital economy to avert risks, enable secure transactions, and optimize their daily operations, leading to reduced operational costs. This need for increased efficiency and security is expected to drive the adoption of the blockchain IoT market in the future.

Based on vertical, the building management to grow at the highest CAGR during the forecast period

The building management segment is expected to increasingly adopting blockchain IoT solutions. With the help of blockchain, smart home devices become immutable and safe from cyberattacks. Blockchain also enables building owners to securely enable other parties to access specific areas and devices without giving them access to everything. Increasing marketplace efficiency is advantageous in facility management too. The blockchain is a secure way to automate transactions and transfer data. It has changed the way buildings are being operated. By using the blockchain in automation, it provides facility management services, equipment warranties, indoor occupancy tracking, and track of spaces available. Therefore, the building management segment registers the highest growth rate during the forecast period.

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North America to hold the largest market share during the forecast period.

North America has several prominent market players delivering Blockchain IoT solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the Blockchain IoT markets growth. The geographical presence, significant Research and Development (R & D) activities, partnerships, and acquisitions and mergers are the major factors for deploying Blockchain IoT and services.

Market Players

Key and innovative vendors in the Blockchain IoT market include IBM (US), Microsoft (US), Intel (US), Amazon Web Services (US), Huawei (China), Cisco (US), SAP (Germany), Ethereum Foundation (Switzerland), The Linux Foundation (US), R3 (US), Arctouch (US), Waltonchain (China), Helium (US), Factom (US), HYPR (US), Chronicled (US), KrypC (India), IoTeX (Singapore), Discovery (Malta), Iota (Germany), Atonomi (US), Xage (US), Ambrosus (Estonia), NetObjex (US), and Grid+ (US).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441