Cybersecurity Insurance Market Emerging Trends, Application Scope, Size, Status, Analysis and Forecast To 2030

According to a research report Cybersecurity Insurance Market is projected to grow from USD 10.3 billion in 2023 to USD 17.6 billion by 2028, at a CAGR of 11.4% during the forecast period. The rise in cyber threats, such as data breaches, ransomware, and phishing attacks, has driven the demand for cybersecurity insurance as organizations seek financial protection against potential losses.

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Based on insurance type, the standalone segment holds the largest market and highest CAGR during the forecast period.

The demand for dedicated cybersecurity insurance policies and the need to mitigate the risks associated with "silent cyber" have led to the increasing popularity of standalone cybersecurity insurance policies. These standalone policies are projected to surpass packaged cybersecurity insurance policies regarding market growth. Organizations are increasingly concerned about cyber risks and seek specialized coverage solely for cyber risk protection, driving the demand for standalone cyber policies. Insurance providers such as AIG, Lloyd's, and Allianz are embracing affirmative cyber and witnessing the growth of standalone policies. These policies are designed to address more complex cyber risks compared to packaged cybersecurity insurance. For example, AIG offers its clients a comprehensive cybersecurity insurance package that includes traditional property and casualty policies and a standalone CyberEdge policy. The CyberEdge policy provides policyholders with a broader range of security protection than the packaged endorsement. Key players in the market offering standalone cybersecurity insurance solutions include AXA XL, AIG, Travelers Insurance, Beazley, Zurich, Fairfax, Tokio Marine, Liberty Mutual, and CNA.

Based on insurance provider end users, healthcare & life sciences is projected to register the highest CAGR during the forecast period.

The healthcare industry faces various challenges, including regulatory fluctuations and the ever-evolving landscape of cyberattacks and breaches. Compliance with privacy and data security regulations such as HIPAA and HITECH necessitate the reliance of healthcare organizations on cybersecurity insurance policies to cover penalty fees. The COVID-19 pandemic has exacerbated cyber threats, with healthcare organizations experiencing increased attacks like ransomware and misinformation campaigns. Cybersecurity insurance is a crucial safeguard for healthcare providers, offering financial protection against cybercrimes, ransomware, data breaches, and other cybersecurity incidents.

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

Asia Pacific, an emerging economy, is projected to achieve the highest CAGR in the cybersecurity insurance market during the forecast period. Countries in the Asia Pacific region, such as China, Japan, ANZ, and Singapore, are highly concerned about rising security spending due to increasing cyber threats. With its strong government regulations and technological advancements, Asia Pacific presents promising growth opportunities for the cybersecurity insurance market. Insecure interfaces, data breaches, and data losses are top cybersecurity risks in the region, fueled by rapid connectivity and digital transformation. Asia Pacific faces an 80% higher risk of cyberattacks than other regions. Increasing regulatory measures are expected to drive the demand for cybersecurity insurance. Zurich Insurance predicts significant market growth in APAC, with leading players like AIG, Allianz, Chubb, and Zurich operating in the region.

Market Players

The major vendors covered in the cybersecurity insurance market include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Cylance (US), Trellix (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US). The insurance vendors covered in the cybersecurity insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J. Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cybersecurity insurance market are At-Bay (US), Cybernance (US), Coalition (US), Resilience (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), Ivanti (US), SafeBreach (US), and Cronus Cyber Technologies (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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5G Services Market by Type & End User- 2030

According to a research report 5G Services Market size is expected to grow from USD 107.0 billion in 2022 to USD 331.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period published by MarketsandMarkets.

Due to high availability of 5G compatible devices and high investments of governments in 5G services, the 5G ecosystem is expected to witness a faster growth rate than other connectivity transformations. Other factors such as high number of applications being developed requiring low latency in connection have resulted in high adoption of 5G services in developing economies.

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

5G services will prove to be highly efficient in the healthcare sector by enabling remote patient monitoring, connected ambulance services, hd virtual consultations, video-enabled prescription management etc. The lower latency 5G will enable data and video to be sent in real-time to the hospital/clinicians in emergency situations and this will have significant impact on the healthcare sector and people’s lives.

uRLLC segment is expected to grow at the highest CAGR during the forecast period

Ultra-reliable low-latency communication (URLLC) use cases such as autonomous systems and mission-critical control are going to gain traction, which increase the speed and quality of services in critical functions. The automotive industry has been an early adopter of various connectivity technologies. There has been a major impetus by car manufacturers to develop connection-ready cars, taking small steps forward within a long-term vision of autonomous vehicle control using URLLC. Service providers may decide to provide focussed offerings end-to-end as the principle B2B services provider. So for example they may supply services, including high-definition cameras to a car manufacturer that requires 5G and URLLC on a production line.

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Asia Pacific (APAC) region to record the highest growing region in the 5G services market

The countries in APAC have high investments done by the governments in 5G services. The high population of the countries in the region have also resulted in higher number of subscribers for 5G, thereby resulting in a higher Average Revenue Per User (ARPU) for 5G service providers. Countries such as China, South Korea, Australia and Japan have high technological growth. The presence of developed technological infrastructure is also one of the key reasons for the adoption of 5G services across all industry verticals.

The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.

Key and innovative vendors in 5G services market are AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India),and Telenor Group (Norway)

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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Smart City Platforms Market 2030 Share, Revenue, Business Growth, Demand and Applications

Smart City Platforms Market enable the integration of various software, devices, sensors, machines, routers, controllers, gateways, and edge-computing systems to streamline business processes and increase operational efficiency.  The growing mobile subscriber base, broadband penetration, and the adoption of advanced technologies across businesses drive the smart city platforms market.

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. 

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

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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Market Players

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.

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Network as a Service Market Segmented by Product, Top Manufacturers, Geography Trends & Growth Opportunity to 2030

Network as a Service Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period, to reach USD  46.6 billion by 2027 from USD  13.2 billion in 2022.

Virtual private networks (VPNs), MPLS links, and other obsolete network architectures can all be replaced with NaaS. Additionally, it may take the position of onsite network infrastructure like load balancers and firewalls appliances. The enterprise networking architecture has been significantly impacted by NaaS, a more recent approach for traffic routing and enforcing security requirements

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As per type, the network security segment to grow at highest CAGR during the forecast period

The network as a service market by type is segmented into LAN and WLAN, WAN, communication and collaboration, and network security. As per type, the network security segment is expected to grow at the highest CAGR during the forecast period. Globally, there is a lot of corporate, private, and regulatory data on network connection. There have been significant social and economic losses as a result of the rise in cyberattack against businesses. Organizations have been required to invest more in security as a consequence, which is anticipated to drive the expansion of the network security segment over the course of the projected year.

Small and Medium-Sized Segment to grow at the highest CAGR during the forecast period

As per organization size, small and medium size Segment to grow at the highest CAGR for the network as a service market during the forecast period. The network as a service market by organization size is segmented into large enterprises and SMEs. SMEs adoption of contemporary IT infrastructures and operational processes optimization are two aspects anticipated to foster sector growth throughout the projected term. By combining cloud computing, automation, and virtualisation, a distribution system has been created that provides connection support for small enterprises much more affordably and reliably. Especially as they transition to automation, the clouds, and experiment with cutting-edge digital technologies, smaller businesses are expected to boost their IT investment, which will be beneficial to NaaS providers.

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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 US is a big contributor to the market expansion in North America. Early acceptance of cutting-edge technical solutions as well as notable program evaluation by industry stakeholders through collaborations with multiple industry participants are both responsible for the rise. The market for network-as-a-service in North America is expanding as a result of cloud computing's widespread adoption, sophisticated IT infrastructure, and a growing consolidation of the major organizations in the industry.

Some of the major network as a service market vendors are AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications (Japan), Orange Business Services (France), Vodafone (UK), BT Group (UK), Tata Communications (India), Lumen (US), Comcast Business (US), Axians (France), Servsys (US), TELUS (Canada), KDDI (Japan), Cloudflare (US), PCCW Global (China), China Telecom (China), Singtel (Singapore), China Mobile (China), GTT Communications (US), Aryaka Networks (US), Telia (Sweden), Telstra (Australia), Deutsche Telekom (Germany), Colt Technology Services (UK), Wipro (India), HGC (China), TenFour (US), PacketFabric (US), OnX Canada (Canada), Megaport (Australia), Epsilon (Singapore), IPC Tech (US), and Microland (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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Security Automation Market Driving Factors, Industry Growth, Key Vendors and Forecasts to 2030

According to a research report Security Automation Market is projected to grow from USD 8.9 billion in 2023 to USD 16.7 billion by 2028, at a compound annual growth rate (CAGR) of 13.4% during the forecast period. The security automation market is expected to grow significantly during the forecast period, owing to various business drivers like the rising cybersecurity threats and complexity, and the growing ability to detect and respond to security incidents in real-time.

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By services, managed services to register for the highest CAGR during the forecast period

The services segment of the security automation market is growing rapidly. The managed services are vital in properly functioning security automation solutions. Security automation vendors require technical support and consulting services to deploy their solutions quickly and smoothly in the market. Managed services are crucial in the security automation market as they offer specialized services and support to organizations requiring security automation solutions. Their role encompasses various aspects that help businesses leverage the full potential of these technologies effectively.

By technology, AI & ML to register for the highest market size during the forecast period

AI and ML technologies are playing a pivotal role in shaping the landscape of the security automation market. These advanced technologies are revolutionizing the way organizations detect, respond to, and mitigate cybersecurity threats. AI and ML have become integral components of security automation, driving the growth and evolution of this market.

By region, Asia Pacific accounted for highest growth rate during forecast period

Asia Pacific is witnessing significant technological innovation in security automation. Several Asian countries, such as Japan, China, and India, are leveraging information-intensive technologies, and security automation is one of the leading technology trends. With new growth opportunities declining in conventional, strong markets such as North America and Europe, several vendors are interested in Asia Pacific. China, Japan, and India are technology-driven countries and present major opportunities in terms of investments and revenues.

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Key Market Players

Some major players in the security automation market include Palo Alto Networks (US), Splunk (US), CyberArk (US), Check Point (Israel), CrowdStrike (US), Red Hat (US), Cisco (US), Carbon Black (US), Trellix (US), IBM (US), Secureworks (US), Tenable (US), Microsoft (US), Swimlane (US), Tufin (US), Sumo Logic (US), Google (US), LogRhythm (US), Exabeam (US), ManageEngine (India), Fortinet (US), Devo Technology (US), D3 Security (Canada), Logsign (Netherlands), Vulcan Cyber (Israel), Cyware (US), Cyberbit (US), SIRP (US), Tines (Ireland), Veriti (Israel), Vanta (US), Drata (US), Anvilogic (US), and Torq (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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Immersive Analytics Market To 2030 Industry Outlook, Growth Opportunities, Trends | Market Growth

The global Immersive Analytics Market size is projected to grow from USD 0.8 billion in 2023 to USD 6.7 billion by 2028, at a CAGR of 51.7% during the forecast period, according to report published by MarketsandMarkets.

The primary factor driving the growth of the immersive analytics market is the growing popularity of data visualization tools. The self-service BI movement has revolutionized the field of data visualization. Organizations must make quick and well-informed decisions in today's rapidly evolving and intricate business landscape. Data visualization tools play a crucial role in this process by enabling businesses to identify significant trends, patterns, and outliers within their data.

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By offering, the service segment is expected to grow with the highest CAGR during the forecast period

Immersive analytics services encompass professional and managed services. These services aim to assist organizations in effectively implementing immersive data visualization and analysis technologies, providing strategic guidance, custom development, optimized visualizations, seamless user experiences, training programs, integration with existing systems, and ongoing support. Organizations can choose services based on their specific needs to leverage immersive analytics for better insights and decision-making.

By end-use industry, the healthcare segment is expected to have the largest market share during the forecast period

Digital transformation in the healthcare industry is expected to boost the adoption of immersive analytics. The innovations and technological advancements in the healthcare industry have eased the simulation of medical devices and the monitoring and diagnosis of patients. Immersive analytics solutions help healthcare and life sciences organizations efficiently manage how patient data is collected, treated, processed, and presented for the testing and simulation of new treatments, scenarios, and devices. For example, doctors can use VR headsets to visualize a patient's anatomy and identify potential problems. Nurses can use AR glasses to see real-time data about a patient's condition, such as their heart rate and blood pressure.

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Asia Pacific is expected to have the highest growth rate during the forecast period

The Asia Pacific has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. A dense population, growing per capita income, large-scale industrialization, and urbanization are a few of the major factors driving the growth of the immersive analytics market in Asia Pacific. The strong government support for innovation in the Asia Pacific region is helping to create a favorable environment for the growth of immersive analytics. This is leading to the development of new and innovative applications of immersive analytics, which positively impact businesses and society. Governments are investing in R&D for immersive analytics because they believe this technology can create jobs, boost economic growth, and improve the quality of life. Governments are helping to accelerate the development of this promising technology by providing financial support to businesses.

Market Players

The major players in the immersive analytics market are IBM (US), Microsoft (US), SAP (Germany), Google (US), TIBCO (US), HPE (US), Magic Leap (US), Accenture (Ireland), HTC (Taiwan), Meta (US), Tableau (US), Kognitiv Spark (Canada), Aventior (US), Immersion Analytics (US), BadVR (US), Virtualitics (US), Softcare Studios (Italy), JuJu Immersive (UK), ARSOME Technology (US), Varjo (Finland), Cognitive3D (Canada), SenseGlove (Netherlands), DPVR (China), PICO (US), Reply (Italy). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the immersive analytics 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.

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

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Self-healing Networks Market: 2030 Global Industry Trends, Growth, Share, Size And Leading Players Review

The global Self-healing Networks Market size to grow from USD 0.6 billion in 2022 to USD 2.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 33.3% during the forecast period, according to report published by MarketsandMarkets.

The self-healing networks market is expected to grow at a significant rate during the forecast period, owing to several business drivers. Some factors driving the growth of the self-healing networks market are the rising need to control and manage network traffic, increasing adoption of automation technologies such as AI and ML integrated with self-healing, and surge in human error rates in manual systems causing network downtime.

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Managed Services to witness the higher CAGR during the forecast period

The self-healing networks servicescomprises of managed and professional services. Services plays a vital in effective implementation of self-healing networks solutions and services that can be operated by third-party companies so that firmscan focus more on their primary businesses. Managed services comprises of set of services to monitor and maintain computer systems, network infrastructure, and software tools. . Managed service providers offer users to manage self-healing network solutions to enable the components to make required modifications without any intervention of the security teams.

Physical network type segment to register for largest market size during the forecast period

The components of network infrastructure are highly complex and varied with the presence of a number of critical physical and virtual edge devices, such as switches, routers, and firewalls, from various network hardware vendors. Self-healing networks can be provided in three ways: physical, virtual, and hybrid networks. The physical network segment is based on the requirement and need to enable the setup and configuration, patching, rollout and rollback, and resource use of the physical network infrastructure. The self-healing network solutions capture data and dependency information into snapshots that enable network administrators to establish configuration baselines and gold standards for continuous change tracking and detect configuration drifts in multivendor network devices.

SMEs to register for the higher growth rate  during the forecast period

Based on organization size, the network automation market has been segmented into SMEs and large enterprises. Organization size refers to the size of an organization in terms of the number of employees. For any large or small organization, access, optimization, and availability are of extreme significance for the management of the network. SMEs to grow at the rapid pace during the forecast period owing to the rising usage of cloud technology has driven the adoption of the self-healing technology among SMEs. Owing to budget constraints, SMEs generally prefer the cloud-based solutions available in the market.

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Asia Pacific to witness the highest CAGR during the forecast period

Asia Pacific is among the digital hubs of the world. Thus, businesses in the region have quickly identified the benefits of cloud technology as a facilitator of digital transformation. The region has great scope for growth in the self-healing networks market. It is focused on innovating and developing self-healing networks solutions across various verticals, such as telecom, IT and ITES, and BFSI. Japan, China, and India use self-healing networks solutions across different sectors to reduce downtime. Asia Pacific to witness an increase in the number of connected devices, which is fueling the need for automated configuration management solutions. This, in turn, is increasing the adoption of reliable network self-healing solutions by businesses across the region.

Some major players in the Self-healing networks market include Fortra (US), VMWare (US), IBM (US), CommScope (US), SolarWinds (US), ManageEngine (US), BMC Software (US), Elisa Polystar (Sweden), HPE (US), Cisco (US), Ivanti (US), Easyvista (France), Huawei (China), ACT (India), Ericsson (Sweden), Nokia (US),  Anuta Networks (US), Juniper (US), Bluecat (Canada), Park Place Technologies (US), Appnomic (India), Versa Networks (US), Parallel Wireless (US), Itential (US), Kentik (US), Domotz (US), and Beegol (Brazil).

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