Multi-cloud Security Market Revenue, Pricing Trends, Growth Opportunity, Regional Outlook To 2027

Rising cyberattacks on multi-cloud deployments and growing initiatives by the government for multi-cloud usage are some of the factors driving the market growth. Organizations are increasingly adopting multi-cloud security solutions to maintain the vital security posture of multi-cloud deployments.

The global Multi-cloud Security Market is projected to grow from an estimated USD 4.4 billion in 2022 to USD 10.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2022 to 2027, according to report published by MarketsandMarkets. 

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By organization size, large enterprises to account for a larger market size during the forecast period

According to the Organization for Economic Co-operation and Development (OECD), large enterprises employ more than 250 people. Large enterprises have rapidly started adopting multi-cloud systems over traditional on-premises methods. These large enterprises have various department verticals performing different operations, which makes it difficult for the organization to maintain the security posture of the entire organization. The pandemic led to organizations rapidly adopting the work-from-home (WFH) trend. Large enterprises increasingly deploy cloud-based solutions due to increased scalability and lower maintenance costs. Organizations are increasingly using multi-cloud deployments with benefits including minimizing vendor lock-in, leveraging best options as per requirements, and meeting regulatory requirements. According to IBM's report Cloud's next leap, the percentage of respondents claiming a single public cloud as their primary archetype dropped from 16% in 2019 to 2% in 2021, with the growing use of multi-cloud deployments. Organizations are increasingly adopting multi-cloud security solutions to maintain the vital security posture of multi-cloud deployments.

By vertical, BFSI to account for the largest market size during the forecast period

BFSI consists of banking, financial services, and insurance. Despite the size and business mix, most financial institutions have increasingly started adopting cloud and multi-cloud computing solutions. There are cost benefits when scaling, deploying new services, and innovating. Banks and financial institutions are increasingly moving their data to the cloud environment amid the COVID-19 outbreak. There are security and resiliency benefits that can be difficult and expensive to replicate on-premises, especially for smaller institutions trying to keep pace with the rapidly changing standards. However, as the industry continues to embrace cloud services, regulators are becoming more aware of the challenges associated with cloud computing, especially those that could expose financial institutions to systematic risks potentially undermining the financial system's stability. With the widespread adoption of cloud computing platforms, finance and insurance companies must meet the highest security standards set by monetary regulatory authorities. There is a constant need for proper security measures and vigilance to protect organizations from potential cloud attacks on multi-cloud deployments in the vertical. Multi-cloud security solutions are being implemented to help maintain the organization's security. Different government mandates, such as the Personal Information Protection and Electronics Document Act (PIPEDA) and PCI DSS, necessitate financial institutions to comply with these standards. There is an increasing need for cybersecurity solutions and services in the BFSI vertical to combat the rising number of physical and cyber-attacks on critical infrastructures.

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

North America is expected to be the largest contributor in terms of the market size in the global multi-cloud security market. It is one of the most advanced regions in terms of security technology adoption and infrastructure. The region is experiencing increasing digitalization in the recent years. Organizations are increasingly shifting their systems from the on-premises environments to the cloud infrastructure. The increasing digitalization in the region has also increased the risk of cyberattacks on organizations. This factor has prompted organizations to adopt multi-cloud security solutions. Additionally, various organizations regulate the operation of the multi-cloud security market. National Institute of Standards and Technology (NIST) develops cybersecurity standards, guidelines, best practices, and other resources to meet the needs of the US industry, federal agencies, and the broader public. Its activities range from producing specific information that organizations can put into practice immediately to longer-term research that anticipates advances in technologies and future challenges. For instance, NIST is establishing a Multi-Cloud Security Public Working Group (MCSPWG) to research best practices for securing complex cloud solutions involving multiple service providers and multiple clouds. The region also has the presence of major vendors operating in the multi-cloud security market, which acts as a driver for the growth of the market in the region.

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Top Key Companies:

The major vendors in the multi-cloud security market are Microsoft (US), VMware (US), Rackspace (UK), Check Point (Israel), F5 (US), Amazon Web Services (US), Fujitsu (Japan), Entrust (US), Google Cloud (US), Cloudflare (US), IBM (US), Cloud4C (Singapore), Proofpoint (US), Lacework (US), BMC Software (US), SonicWall (US), Atos (France), Imperva (US), Micro Focus (UK), Aqua Security (Israel), Aviatrix (US), Saviynt (US), Tufin (US), Distology (UK), Fortanix (US), Illumio (US), Fidelis Cybersecurity (US), Valtix (US), Orca Security (US), Ascend Technologies (US), Ermetic (US), Caveonix (US), and AccuKnox (US).

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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.

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DataOps Platform Market Statistics | Industry Forecast – 2027

The global DataOps Platform Market size is projected to grow from USD 3.9 billion in 2023 to USD 10.9 billion by 2028, at a CAGR of 23.0% during the forecast period, according to report published by MarketsandMarkets. 

As organizations continuously generate and accumulate vast volumes of data, DataOps platforms offer indispensable tools and processes to extract actionable insights and unlock the true value of data assets. DataOps platform empower teams with the necessary skills and capabilities to effectively manage critical business processes, enabling them to grasp the significance while eliminating data silos through centralized data management. This emerging paradigm seeks to achieve a delicate equilibrium between fostering innovation and upholding control over the data pipeline. By harmonizing innovation and control, DataOps platforms allow organizations to harness data as a strategic asset while ensuring data integrity and security are upheld without compromise.

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Healthcare & Life Sciences segment to account for higher CAGR during the forecast period

The market for DataOps Platform is bifurcated into BFSI, IT and ITeS, Retail & eCommerce, Healthcare & Life Sciences, Manufacturing, Government & Defense, Telecommunications, Transportation & Logistics, Media & Entertainment and Other verticals. The adoption of DataOps platforms has significantly transformed the healthcare & life sciences industry by facilitating streamlined data analytics and improving the accuracy of medical treatments. The platform offers an excellent opportunity to aggregate and analyze large volumes of complex and diverse healthcare data. By leveraging the power of machine learning and artificial intelligence, DataOps platforms enable healthcare professionals to provide more personalized and efficient healthcare services. These platforms provide real-time data insights that help healthcare professionals identify disease patterns, make early diagnoses, and prescribe the most effective treatment plans for their patients. As a result, the healthcare industry is witnessing a paradigm shift, with DataOps platforms being at the forefront of this transformation. During the forecast period, the Healthcare & Life Sciences segment is anticipated to grow at the highest CAGR.

Cloud segment to grow at the highest CAGR during the forecast period

The market for DataOps Platform is bifurcated based on deployment mode into Cloud and On-premises.  The adoption of cloud deployment offers enhanced flexibility and accessibility, enabling users to access the DataOps platform from anywhere with an internet connection. This increased accessibility empowers businesses to leverage the platform's capabilities without limitations of physical location. Additionally, cloud deployment expedites the implementation and deployment process of DataOps platforms by eliminating the requirement for businesses to establish and configure their own hardware and infrastructure. This streamlined approach saves valuable time and reduces the time to value, enabling businesses to swiftly extract insights and make data-driven decisions. Embracing cloud deployment allows organizations to harness the full potential of their data assets swiftly and efficiently, providing them with a competitive edge in the dynamic business landscape. During the forecast period, the cloud segment is expected to grow at the highest CAGR.

Asia Pacific to exhibit the highest CAGR during the forecast period

The CAGR of Asia Pacific is estimated to be highest during the forecast period. The Asia Pacific region is witnessing a rapid adoption of DataOps platforms driven by various factors such as the exponential growth of big data, the prevalence of cloud computing, and the advancements in artificial intelligence. With data volumes expanding at an unprecedented rate, businesses are seeking automated solutions to manage their data effectively, aiming to achieve cost savings, operational efficiency, and improved data quality. The business ecosystem for DataOps platforms in the Asia Pacific region is diverse and rapidly evolving. It encompasses a broad spectrum of technology vendors, service providers, and consulting firms that cater to businesses of all sizes, offering comprehensive end-to-end data management solutions. As the demand for efficient data management intensifies, the Asia Pacific region is witnessing significant growth and innovation in the field of DataOps platforms.

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Market Players

Major vendors in the global DataOps Platform market are Microsoft (US), IBM (US), Oracle (US), AWS (US), Informatica (US), Teradata (US), Wipro (India), Accenture (Ireland), SAS Institute (US), Hitachi Vantara (US), DataKitchen (US),  Atlan (Singapore), Dataiku (US), Fosfor (India), Databricks (US), StreamSets (US), Talend (US), Collibra (US), Celonis (US),  BMC Software (US), Saagie (France), Composable Analytics (US), Tengu.io (Belgium), Unravel Data (US), Monte Carlo Data (US), Census (US), RightData (US), Zaloni (US), Datafold (US), DataOps.live (UK), K2view (Israel).

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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 moulded 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.

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Smart City Platforms Market Key Players, Industry Overview, Supply Chain and Analysis to 2027

The global Smart City Platforms Market size is estimated at USD 191.6 billion in 2023  and is projected to reach USD 292.1 billion by 2028, at a CAGR of 8.8% from 2023 to 2028, according to report published by MarketsandMarkets. The growing mobile subscriber base, broadband penetration, and the adoption of advanced technologies across businesses drive the smart city platforms market.

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By offering, platforms are estimated to account for the largest market share in 2023.

Smart city platforms enable the integration of various software, devices, sensors, machines, routers, controllers, gateways, and edge-computing systems to streamline business processes and increase operational efficiency. Smart city platforms enable connectivity between objects or platforms and consist of a variety of important building blocks, such as connectivity and normalization, device management, database, processing and action management, analytics, visualization, and external interfaces. Rising urbanization resulting in increasing demand for space optimization and asset management is encouraging vendors to enhance the capabilities of their platforms.

Managed services are expected to register the fastest growth rate during the forecast period.

Managed service providers (MSPs) assist clients in efficiently managing key operations of smart city infrastructure. MSPs handle end-to-end deployment and after-sales services for the deployed smart city platforms. Smart city platforms and systems need to be upgraded regularly to detect physical attacks on smart city infrastructure and counter newly introduced cyber threats, attacks, ransomware, and sophisticated cybercriminals. As a result, companies are rapidly handing over their smart city infrastructure and asset security to specialized service providers, such as Managed Security Service Providers (MSSPs), who help secure data generated from the infrastructure and ensure data confidentiality, integrity, and availability.

Asia Pacific is likely to emerge as the fastest-growing market during the forecast period

Asia Pacific is anticipated to have highest CAGR for the forecasted period. Asia Pacific is an emerging smart city platforms market. China, Japan, and Australia are the major countries contributing to the growth of the market in the region. Asia Pacific also houses other major economies, such as Singapore, South Korea, and India. Japan has already declared completion of most of its smart city projects, while the other countries in the region are still in the initial development phase. China is the biggest marketplace in the Asia Pacific region in terms of developing IoT technology for smart cities. In Asia Pacific, around 311 cities were selected for transformation into smart cities in 2013; significant progress has been observed in nearly 80 cities.

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Top Key Companies:

The major vendors covered in the smart city platforms market include Alibaba Group Holding Limited (China), Amazon Web Services, Inc. (US), Bosch.IO GmbH (Germany), Quantela, Inc. (US), Cisco Systems, Inc. (US), Ericsson (Sweden), Fujitsu Limited (Japan), Fybr (US), Google LLC (US), Hitachi, Ltd. (Japan), Huawei Technologies Co., Ltd. (China), IBM (US), Intel Corporation (US), KaaIoT Technologies (US), Microsoft (US), NEC Corporation (Japan), Oracle Corporation (US), SAP SE (Germany), Schneider Electric (France), SICE (Spain), Siemens AG (Germany), Sierra Wireless Inc. (Canada), SIRADEL SAS (France), Smarter City Solutions (Australia), Thethings.Io (Spain), Ubicquia, Inc (US), Verdigris Technologies, Inc (US), Softdel (US), Igor, Inc (US), Telensa Inc (UK), Enevo Inc. (US), Confidex Ltd (Finland), 75F (US), Ketos (US), and Cleverciti Systems GmbH (Germany).

About MarketsandMarkets™

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.

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 moulded 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 MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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Smart Buildings Market Size By End User, By Region 2027 | Overview, Growth, Economics, Demand

Smart Buildings Market size is expected to grow from USD 72.6 billion in 2021 to USD 121.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period according to report published by MarketsandMarkets. The major drivers for the Smart building include the rising adoption of IoT-enabled building management system, rising awareness of space utilization, increased industry standards and regulations, and increase demand for energy-efficient system.

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The safety and security management solution in the solution type segment is expected to lead the Smart buildings market in 2021.

Security is an integral part of smart buildings. Smart buildings enable occupant safety and security with the help of security solutions integrated with the smart building system. These buildings help in emergency preparedness and management, wherein benefits from new technologies and their integration via advanced wireless networks supporting deployed sensors and IoT are easily achieved. Access control and video surveillance system help track every activity across a facility. This helps to detect intruders and keep the environment safe. The rising deployment of advanced access control systems, video surveillance systems, and fire and life safety systems to safeguard the occupant and assets is contributing to the high market share if this segment.

Industrial building segment is expected to grow with the fastest growth rate during the forecast period.

Industrial buildings are often large and have many moving parts. Smart industrial building solutions automate building temperature control, security, and maintenance for more efficient property management through various mobile computing devices, such as mobile devices and computers. The segment is expected to adopt smart building solutions to achieve energy and cost savings, higher productivity, enhanced identity and access management, and optimized surveillance. Manufacturing and industrial buildings have their own set of requirements for different manufacturing processes and storage purposes.

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North America to lead the Smart buildings market during the forecast period.

The growth of the market in North America can be attributed to the region has witnessed the emergence of latest smart building solutions that leverage new technologies, such as IoT, big data, cloud computing, data analytics, deep learning, and artificial intelligence, for saving energy, reducing operational expenditures, increasing occupancy comfort, and meeting increasingly stringent global regulations and sustainability standards. Moreover, North America is a technologically advanced region in the world due to the rapid adoption of emerging technologies by the organizations in the region. Furthermore, the US and Canada are prominent countries contributing to technological development in this region; for instance, US organizations are heavily investing into smart building measures, such as building controls and building systems integration, to leverage energy efficiency and energy storage and deliver smarter, safer, and more sustainable buildings while the Canadian government is taking initiatives to support Canadas commitment to protecting the environment and its resources by making federal buildings more energy-efficient and reducing greenhouse gas emissions, driving the growth of smart buildings.

Market Players

The major vendors covered in the Smart buildings market include 75F (US), ABB (Switzerland), Aquicore (US), Bosch (US), BuildingIQ (US), Cisco (US), CopperTree Analytics (Canada), ENTOUCH (US), Hitachi (Japan), Honeywell (US), Huawei (China), IBM (US), Igor (US), Intel (US), Johnson Controls (Ireland), KMC Controls (US), Legrand (France), Mode:Green (US), PTC (US), Schneider Electric (Germany), Siemens (Germany), Softdel (US), Spaceti (Czechia), Telit (UK), and Verdigris Technologies (US), Spacewell (Belgium), Gaia (India), eFacility (India).

About MarketsandMarkets™

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.

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 moulded 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 MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC 
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Citizen Services AI Market: 2027 Global Industry Trends, Growth, Share, Size And Leading Players Review

The global Citizen Services AI Market size is projected to register a CAGR of 44.5% during the forecast period, reaching USD 41.0 billion by 2027 from an estimated USD 6.5 billion in 2022 according to report published by MarketsandMarkets. 

Al and chatbots are being used by various government agencies to develop better citizen-centric experiences. As a result, citizens may receive the services they require whenever they need them, and government employees are relieved of many of the tedious responsibilities connected with gathering and processing the data related to citizen engagements.

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By vertical, healthcare segment to register highest CAGR during forecast period

The citizen services AI market has been segmented based on vertical into transportation, healthcare, government and public sector, energy & utilities, agriculture, and education and training. AI vendors across the globe provide a variety of healthcare application solutions, including automated medical diagnosis, automated analysis of medical tests, illness detection and screening, patient management systems, monitoring tools, and predictive healthcare diagnosis and disease prevention. All these healthcare solutions are expected to benefit the citizens and improve the experience of healthcare services. By vertical, the healthcare segment is projected to register the highest CAGR of 46.8% during the forecast period. This segment is also anticipated to register the highest CAGR of 51.7% in the Asia Pacific region during the forecast period, reaching USD 1,709 million by 2027 from an estimated USD 213 million in 2022.

By deployment mode, cloud segment projected to register higher CAGR than on-premises segment

The citizen services AI market has been segmented based on deployment mode into cloud and on-premises. Cloud-based citizen services AI solutions help in maintaining a competitive edge by eliminating the administrative roadblocks of the supporting infrastructure, enabling organizations to focus on improving their competencies. By deployment mode, compared to on-premises, the cloud segment is projected to register a higher CAGR of 43.1% during the forecast period.

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

Among the regions, North America is anticipated to account for the largest market size during the forecast period. The presence of several global players across the region would increase the demand for AI citizen service solutions for enhanced support and recommendation to government organizations. Factors such as the ease provided by AI citizen services, regulatory standards, advanced IT infrastructure, and the availability of technical expertise also lead to the rapid adoption of citizen services AI solutions in the region.

Key Players:

Some of the major citizen services AI market vendors are IBM (US), ServiceNow (US), AWS (US), NVIDIA (US), Microsoft (US), Intel (US), Alfresco (US), Waymo (US), Voyager Labs (US), Accenture (Ireland), Alibaba (China), Tencent (China), Pegasystems (US), Baidu (China), Automation Anywhere (US), OpenText (Canada), H2O.AI (US), and ADDO (Singapore).

About MarketsandMarkets™

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.

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 moulded 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 MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC 
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Geospatial Analytics Market Trends, Growth Analysis 2027

The global Geospatial Analytics Market is projected to grow from USD 67.4 billion in 2022 to USD 119.9 billion by 2027, at a CAGR of 12.2% during the forecast period according to report published by MarketsandMarkets. 

The key factors driving the growth of this market include the rise of geospatial analytics technologies and the increasing competition. GIS may be used to monitor facilities that are available and organize interventions. The mapping of demographic data aids in the monitoring of high-risk populations and vulnerable areas. The geospatial technology anticipates and analyses organizational risk regions and monitors operational capabilities to increase business continuity.

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Cloud segment to account for higher CAGR during the forecast period

The Geospatial analytics market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period. A combination of spatial technologies with cloud computing offers an alternative platform for data, making it affordable and scalable. The deployment type comes with flexible subscription-based pricing models, and access to the services is provided through cloud-deployed network connectivity. A geospatial cloud providing GIS as SaaS offers many analytic and visualization capabilities.

SMEs segment to account for higher CAGR during the forecast period

The SMEs segment is a faster-growing segment in the Geospatial analytics market during the forecast period as the demand for geospatial analytics in organizations is increasing. The deployment of geospatial analytics varies according to the needs of different end users. The increasing volume of location-based spatial data in SMEs is one of the major factors driving the growth of the geospatial analytics market.

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APAC to hold higher CAGR during the forecast period

APAC is showing a substantial rise in the adoption of Geospatial analytics solutions and services during the forecast period. The number of people living in cities has dramatically increased because of the region’s rising economies, including those of Indonesia, China, and India. This expansion has increased demand for smart cities, smart infrastructure, and well-planned urban landscapes. Leading the development of 5g and IoT infrastructures are China, South Korea, and India. These factors will lead the APAC market to grow at the quickest CAGR over the next years.

Major Key Players:

Major vendors in the global Geospatial analytics market Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), eSpatial (Ireland), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands).

About MarketsandMarkets™

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.

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 moulded 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 MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC 
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USA: +1-888-600-6441 
Email: sales@marketsandmarkets.com 

Retail Cloud Market Driving Factors, Industry Growth, Key Vendors and Forecasts to 2028

Retail Cloud Market refer to the services that cloud infrastructure providers offer to retailers to help them manage their cloud-based solutions. The growing need for enhancing online shopping experience, increase in adoption of SaaS solutions, and surge in demand for hybrid cloud solutions with the adoption of remote working has driven the market growth.

The global Retail Cloud Market size is expected to grow from USD 47.0 billion in 2023 to USD 114.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period, according to report published by MarketsandMarkets.

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By Component, the services segment is expected to grow at a higher CAGR during the forecast period.

The retail cloud service segment is further segmented into professional services and managed services. Retail cloud services refer to the services that cloud infrastructure providers offer to retailers to help them manage their cloud-based solutions. These services may include cloud storage, database management, application hosting, security services, and more. Retailers can use these services to ensure that their cloud-based solutions are secure, scalable, and always available to their customers. Retail cloud services typically include a range of offerings, such as software-as-a-service (SaaS), platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and other cloud-based services that are specifically tailored to meet the needs of the retail industry.

By Organization Size, large enterprises hold the largest market size during the forecast period.

Enterprises with more than 1,000 employees are considered large enterprises. The retail industry is highly competitive, and large enterprises need to stay ahead of the curve to survive. The adoption of retail cloud solutions allows large enterprises to streamline their operations, reduce costs, and enhance customer experience. Large enterprises have the resources and infrastructure to implement and manage retail cloud solutions, making it easier for them to leverage the benefits of the technology. They have a large customer base and a vast amount of data that needs to be managed efficiently, which can be achieved through retail cloud solutions.

By Region, Asia Pacific is expected to grow at a higher CAGR during the forecast period.

The Asia Pacific region is the fastest growing region in the global retail cloud market. The growth is mainly driven by the utilization of public cloud services. Public cloud services are widely used by retailers in the Asia Pacific region to enhance their operations, improve customer experiences, and drive innovation. Cloud-based marketing solutions are becoming popular among retailers in the Asia Pacific region who want to personalize their marketing efforts and reach customers across multiple channels. Cloud-based marketing providers such as Adobe and Hubspot offer tools for email marketing, social media marketing, and customer segmentation. In addition, many cloud service providers are expanding their reach by launching new data centers in the region. For instance, In 2022, Alibaba Cloud opened its data centers in Thailand, South Korea and Japan.

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Market Players

Some of the key players operating in the retail cloud market are  AWS (US), Microsoft (US), Google (US), Oracle (US), Salesforce (US), SAP (Germany), Accenture (Ireland), Alibaba Cloud (China), IBM (US), and Cisco (US).

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