IDaaS Market Segmented by Product, Top Manufacturers, Geography Trends & Growth Opportunity to 2030

 

The global IDaaS Market is projected to reach USD 5.6 billion in 2022 to 16.8 billion USD by 2027, at a Compound Annual Growth Rate (CAGR) of 24.7% between 2022 and 2027, according to report published by MarketsandMarkets. 

Some factors driving the market growth include government initiatives and regulations supporting digital identity transformation, government regulations and the need for compliance, and the rise in identity and authentication frauds.

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By deployment type, the private cloud segment is projected to grow with a higher CAGR during the forecast period

The IDaaS market is segmented into public, private, and hybrid clouds based on the deployment type. The subsegment with the highest CAGR is private cloud deployment owing to the widespread use of private cloud-based identities as they provide stronger safety, high performance, privacy, and reliability while still adhering to regulations and compliances. The most important factors in an organizations decision to operate a private cloud were data protection, asset ownership, and integration with business processes. The private cloud is frequently used by businesses with extremely changeable network requirements in order to guarantee they always have enough access and total control over the cloud environment. Organizations may benefit from the private cloud because they provide several benefits including cost savings, efficient resource utilization, complete control and security, increased security and privacy, remote accessibility, continuity of operations, obtaining regulatory compliance, increased flexibility, and improved dependability. Government agencies, financial institutions, and other medium to large-sized organizations with mission-critical activities frequently deploy private clouds to increase control over their environment. Therefore, the private cloud segment has the highest CAGR during the forecasted period.

By Component, the Provisioning segment to hold a larger market size during the forecast period

The IDaaS market is segmented into Provisioning, Single Sign-On, Advanced authentication, Audit, Compliance, and Governance, Directory service, and Password management on the basis of Component. The provisioning sector is anticipated to take the lead since it is essential to security management and will continue to be a crucial component of the IDaaS architecture. With the provisioning system businesses may guarantee that the appropriate users have access to the appropriate apps and infrastructure. Enterprises may automate the providing and de-provisioning of all user accounts with the aid of this secure, automated, policy-based identity lifecycle management system. Additionally, a consolidated view of all application credentials is offered via the provisioning system. It also quickly connects users to appropriate enterprise resources while reducing administrative workload. The Provisioning sub-segment is one of the most crucial elements for access rights enforcement and compliance. Therefore, is anticipated to hold a larger market size during the forecasted period.

By region, Asia Pacific to grow at a significant CAGR during the forecast period

Due to the rise in identity and access breaches, Asia Pacific (APAC) is predicted to increase security investment. The worlds fastest-growing economies, including China, India, and Japan, are clustered in this area. Furthermore, the region has a high level of technological adoption. A profitable market for security products and services, APAC has seen the advanced and rapid adoption of cutting-edge technology. Even though the area is implementing the most recent security solutions, it is frequently the target of cyberattacks including identity thefts, data breaches, ransomware, phishing, and many more. 74% of APAC banks surveyed by Fair Isaac Corporation (FICO) think that fraud instances in their nation would considerably rise in the coming years. Thus, the usage of IDaaS solutions in the area has risen as a result. To safeguard their extremely sensitive data, organizations are increasingly using advanced security solutions like IDaaS. Additionally, the IDaaS industry is seeing rapid development opportunities in the area because of efficient government laws and technology improvements. Thus, the Asia Pacific region is supposed to grow at the highest CAGR in the forecasted period.

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Top Key Companies:

Okta (US), CyberArk (US), Thales (France), Microsoft (US), Ping Identity (US), OneLogin (US), IBM (US), Oracle (US), Google (US), and SailPoint (US), JumpCloud (US), SecureAuth (US), Auth0 (US), OpenText (Canada), Ilantus (US), LoginRadius (Canada), Delinea (US), Optimal IdM (US), Fischer Identity (US), Atos (France), Avatier (US), Simeio Solutions (US), HCL (India), Capgemini (France), Broadcom (US), Salesforce (US), Jumio (US), Signicat (Norway), Ubisecure (UK), and EmpowerID (US) are the key players and other players in the IDaaS market.

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.

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Multi-cloud Security Market Size & Forecast [2030]

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).

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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Geospatial Analytics Market Share, Application Analysis, Regional Outlook, Competitive Strategies, Key Players to 2030

The global Geospatial Analytics Market size is estimated to grow from USD 78.5 billion in 2023 to USD 141.9 billion by 2028, at a CAGR of 12.6% during the forecast period, according to a new report by MarketsandMarkets™. 

Geographic Information System (GIS) is a powerful tool in geospatial analytics that integrates spatial data with attribute data to analyze, visualize, and manage geographic information. GIS allows users to capture, store, manipulate, analyze, and present geographically referenced data, providing insights into spatial patterns and relationships. It enables mapping, spatial querying, and spatial analysis, aiding decision-making processes in various fields such as urban planning, transportation, environmental management, and public health.

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Healthcare & Lifesciences to account for higher CAGR during the forecast period

The Geospatial analytics market for healthcare is categorized into various applications, such as disease mapping, health resource allocation, emergency response planning, medical & public safety and others (patient tracking, healthcare facility location planning, and medical asset management). Geospatial analytics has revolutionized the healthcare and life sciences vertical, offering a multitude of applications. It aids in disease surveillance and outbreak management by analyzing geospatial data to identify disease hotspots, assess population vulnerability, and allocate resources effectively. Geospatial analytics also plays a vital role in healthcare planning and resource allocation by analyzing population density, healthcare facility locations, and accessibility. It helps in optimizing healthcare service delivery, improving patient outcomes, and ensuring equitable access to healthcare services. Furthermore, geospatial analytics facilitates environmental health studies, epidemiological research, and the identification of environmental factors impacting public health.

Services Segment to account for higher CAGR during the forecast period

The market for Geospatial analytics is bifurcated based on offering into solution and services. The CAGR of services is estimated to be highest during the forecast period. Geospatial analytics is transforming the service segment by enabling businesses to provide personalized and location-specific services, optimizing field service management through efficient routing and scheduling, optimizing supply chain and logistics operations for cost savings and improved efficiency, streamlining facility management through spatial insights, and enabling targeted marketing and advertising campaigns based on geospatial data. With its ability to leverage spatial data for informed decision-making, geospatial analytics is driving operational efficiency, enhancing customer experiences, and fueling business growth in the service segment.

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. Geospatial analytics is rapidly growing in Asia Pacific, which includes China, India, Japan, Thailand, Myanmar, Vietnam and ANZ (Australia and New Zealand). Geospatial analytics is having a transformative impact on the Asia-Pacific (APAC) region by driving advancements in urban planning and infrastructure development, optimizing agriculture practices for food security, enhancing disaster management and climate resilience efforts, improving healthcare planning and disease surveillance capabilities, and promoting sustainable environmental conservation and natural resource management. By utilizing geospatial data and analysis, APAC countries are leveraging technology to address complex challenges, make informed decisions, and drive sustainable growth and development across diverse sectors.

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Market Players

Major vendors in the global Geospatial analytics market are Esri (US), Precisely (US), Caliper Corporation (US), Blue Marble Geographic (US), Google (US), Alteryx (US), Blue Sky Analytics (Netherlands), HexagonAB (Switzerland), TomTom (Netherlands), Trimble (US), Maxar Technologies (US), RMSI (India), Maplarge (US), General Electric (US), Bentley Systems (US), Fugro (Netherlands), Orbital Insights (US), Mapidea (Portugal), Geospin (Germany), Sparkgeo (Canada), Orbica (New Zealand), Descartes Lab (US), Skymap Global (Singapore), ReMOT Technologies (US), CARTO (US), Pasco Corporation (Japan), Geoviet Consulting (Vietnam), Mandalay Technology (Myanmar), GIS Co. Ltd. (Thailand), Suntac Technologies (Myanmar), Geomatic Consulting International (Vietnam), AAM, A Woolpert Company (Australia), Mappointasia (Thailand), Vegastar Technology (Vietnam), and HERE Technologies (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 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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Smart City Platforms Market Outlook To 2030 | Precise Scenario with Latest Trends, Opportunities, Growth Overview

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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MarketsandMarkets™ INC 
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Email: sales@marketsandmarkets.com 

 

6G Market 2030 Share, Revenue, Business Growth, Demand and Applications

The global 6G Market size from USD 5.1 billion in 2023 to USD 40.2 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 34.2% during the forecast period, according to research report by MarketsandMarkets™. 6G market growth is driven by the need for faster data rates and network capacity to enable new technologies and applications.

The growth of IoT in sectors like healthcare, manufacturing, transportation, and smart cities is driving the demand for 6G networks to support the massive influx of IoT devices and enable seamless communication and data exchange. As a result, the IoT devices segment is expected to play a significant role in driving the growth of the 6G market in the coming years.

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By deployment device, Internet of Things (IoT) devices are expected to register the fastest growth rate during the forecast period.

With the increasing adoption of IoT across various industries, there is a growing need for reliable and high-speed connectivity to support the massive number of connected devices. 6G technology, with its ultra-low latency, high bandwidth, and enhanced network capabilities, is well-suited to meet the demands of IoT applications. IoT devices like sensors, smart appliances, and industrial equipment require seamless connectivity and real-time data transmission for efficient operations and decision-making.

By application, distributed sensing and communications segment to dominate the market during the forecast period.

The distributed sensing and communications segment is projected to hold the largest market share during the forecast period. Distributed sensing and communications use advanced technologies and networks to enable real-time data collection, analysis, and communication across various industries and sectors. This application segment is expected to grow significantly due to the increasing demand for high-speed, reliable, and low-latency connectivity to support a wide range of applications such as smart cities, industrial automation, environmental monitoring, and healthcare. Distributed sensing and communications in the 6G network enable the seamless integration of diverse devices and sensors, allowing for efficient data transmission and decision-making.

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

The region's rapid growth can be attributed to several factors, including the increasing adoption of advanced technologies, rising investments in research and development, and a strong focus on digital transformation. Countries like China, Japan, South Korea, and India are at the forefront of technological advancements and actively working to establish themselves as leaders in the 6G market. These countries have robust telecommunications infrastructure, a large consumer base, and a thriving ecosystem of technology companies, which provides a conducive environment for the growth of 6G technology.

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Key Players

The major vendors covered in the 6G market include AT&T (US), Broadcom (US), Cisco (US), DeepSig (US), Ericsson (Sweden), Fujitsu (Japan), Google (US), Huawei (China), InterDigital (US), Keysight (US), LG Corporation (South Korea), MediaTek (Taiwan), National Instrument Corp (US), NEC Corporation (Japan), Nokia (Finland), NTT DoCoMo (Japan), Orange (France), Qualcomm (US), Reliance Jio (India), Samsung (South Korea), SK Telecom (South Korea), Sony (Japan), T-Mobile (US), Verizon (US), China Mobile (China), ZTE (China).

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

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC

630 Dundee Road

Suite 430

Northbrook, IL 60062

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Email: sales@marketsandmarkets.com

 

Smart Buildings Market 2023 | Overview, Growth, Economics, Demand and Forecast to 2030

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).

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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.

Contact: 
Mr. Aashish Mehra 
MarketsandMarkets™ INC 
630 Dundee Road
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441 
Email: sales@marketsandmarkets.com 

AI Market Demand | Global Overview, Size, Value Analysis, Leading Players Review to 2030

Artificial Intelligence Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.2% during the forecast period, to reach USD  407.0 billion by 2027 from USD  86.9 billion in 2022 according to report published by MarketsandMarkets. Since its introduction in the market, artificial intelligence technology had quickly acquired acceptance. The worldwide artificial intelligence market is expanding significantly as a result of the increasing demand for artificial intelligence technologies across numerous industry verticals.

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As per verticals, the healthcare and life sciences segment to grow at highest CAGR during the forecast period

The artificial intelligence market is segmented on verticals into BFSI, IT/ITES, Telecommunication, Healthcare and Life Sciences, Manufacturing, Retail and eCommerce, Government and Defense, Automotive Transportation and Logistics, Energy and Utilities, and other verticals, such as travel and hospitality, and education. As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. Healthcare and life sciences, as an industry, is growing at a good pace and is expected to contribute significantly to the globally artificial intelligence market. Applications for artificial intelligence in healthcare include patient data and risk analysis, medical imaging and diagnostics, precision medicine, drug discovery, and much more. Patient data is expanding as a result of the widespread use of electronic medical records, and the risk analysis market is also expanding because to benefits like risk management and predictive analytics provided by AI systems to payers and healthcare providers.

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

As per deployment mode, cloud Segment to grow at the highest CAGR for the artificial intelligence market during the forecast period. The artificial intelligence market by deployment mode is segmented into cloud and on-premises. Various advantages, such as lower operational expenses, hassle-free deployment, and more, are provided by the cloud deployment approach. With increasing awareness of the advantages of cloud-based solutions, cloud adoption for Machine Learning and Natural Language Processing tools in AI is anticipated to increase. It gives businesses more operational flexibility and makes real-time analytics implementation easier for businesses.

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As per region, North America to have the highest market size during the forecasted period

As per region, North America to have the highest market size during the forecasted period. The Americas AI digital age that has grown in the retail operation is the foundation of AI in industrial developments. All sectors of retail have seen an improvement in speed, productivity, and reliability, in large part due to cutting-edge data and advanced analytical technology that help businesses make decisions based on data. Businesses are now able to compile and assess individual customer data in order to run promotional campaigns because of cutting-edge AI technology. For this reason, regional retailers are using cutting-edge technology to improve their e-commerce platforms.

Market Players

Some of the major artificial intelligence market vendors are Google Inc. (US), Microsoft Corporation (US), NVIDIA Corporation (US), Intel Corporation (US), Samsung Electronics Co., Ltd. (South Korea), IBM Corporation (US), Amazon Web Services, Inc. (US), Oracle (US), Meta (US), Salesforce (US), Cisco (US), Siemens (US), Huawei (China), SAP SE (Germany), SAS Institute (US), Baidu, Inc. (China), Alibaba Cloud (China), iFLYTEK (China), and Hewlett Packard Enterprise Development LP (US).

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