5G NTN Industry Trends, Key Players, Manufacturers Data, Price Analysis to 2030

According to a research report "5G NTN Market by Component (Hardware, Solutions, Services), End-Use Industry (Maritime, Aerospace and Defense, Government, Mining), Application (EMBB, URLLC, and MMTC), & Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2027" published by MarketsandMarkets, the 5G NTN market is expected to grow from USD 3.2 billion in 2022 to USD 16.1 billion by 2027, at a CAGR of 38.2% during the forecast period. Increasing adoption of digital devices in various sectors, including mining and maritime, has fueled the adoption of 5G NTN solutions to enhance network coverage area. There has been a growing need for high-speed connectivity solutions to connect devices and machines worldwide.

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By location, rural area is estimated to account for the largest market share in 2022

The demand for 5G and broadband in rural areas is bridging the digital divide that will provide internet access at broadband speeds for consumers in rural areas. Leading market players are actively working on connecting rural areas and have observed a huge opportunity to expand their footprint as internet connectivity providers. NTN support multicasting broadcasting, IoT communication, the internet of vehicles, internet of remote things in rural areas beyond the coverage of the terrestrial network. Fixed wireless access, network resilience, wide area connectivity, disaster management, and emergency are the key applications of 5G NTN in rural areas.

By application, mMTC is expected to register the fastest growth rate during the forecast period.

mMTC is a 5G service capable of supporting an exceptionally high connection of online devices, high density of smart devices, and long range. Through the mMTC connections, devices can communicate with one another by occasionally broadcasting small amounts of traffic. LEO satellite is preferred to offer mMTC due to its path loss and lower transmission delay. One of the key application areas of 5G will probably be in IoT and Machine-to-Machine (M2M) communication.

By platform, GEO satellite is estimated to account for the largest market share in 2022

GEO platform provides spaceborne communication that operates in a circular orbit at 35,786 kilometers above the equator of Earth. SoftBank offers skylo satellite at GEO at an altitude of 36,000 km. SoftBank has taken several steps to promote the non-terrestrial network. In June 2021, Smart Africa Secretariat and SoftBank signed MoU to provide affordable, reliable connectivity across African countries. GateHouse, a Satcom and marine software provider company, is a member of 3GPP and actively working on a non-terrestrial network with 5G standardization. Various leading players are offering test solutions for field tests of 5G NTN technology with GEO satellites. GEO platforms support the 5G NTN system to enhance network coverage in remote, isolated, and underserved areas.

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

Due to the adoption of new technologies, increased investments in digital transformation, and rising GDP in Asia Pacific countries, the region is anticipated to have the fastest growing market for 5G NTN solutions. China, South Korea, and India are the major revenue-contributing countries in Asia Pacific. These countries have shown a significant rise in the number of smart device users. According to the Ericsson Mobility Report published in June 2022, with the rising adoption of 5G smartphones in Asian countries, 5G subscriptions are expected to increase to reach around 50 million by the end of 2023. The large population in Asia Pacific has created an extensive pool of mobile subscribers for telecom companies. The region is the largest contributor to the total number of mobile subscribers across the globe and will add more subscribers to its network in the coming years. Improving public safety in disaster and other emergency situations can also be a major driver to adopt 5G NTN solutions in this region.

Market Players

The major vendors covered in the 5G NTN market include Qualcomm Technologies, Inc (US), Gilat Satellite Networks (Israel), SoftBank Group Corporation (Japan), Thales Group (France), Thales Alena Space (France), Rohde & Schwarz GmbH & Co KG (Germany), Keysight Technologies, Inc (US), MediaTek Inc. (Taiwan), Anritsu Corporation (Japan), SES S.A. (Luxembourg), EchoStar Corporation (EchoStar) (US), SpaceX (US), AST & Science, LLC (US), ZTE Corporation (China), OneWeb (UK), GateHouse SatCom A/S (Denmark), Omnispace, LLC (US), Nelco Limited (US), Inmarsat Global Limited (UK), Skylo Technologies (US), Globalstar, Inc (US), Spirent Communications (Spirent) (UK), Telefonaktiebolaget LM Ericsson (Sweden), Nokia Corporation (Finland), Intelsat US LLC (US), and Telefonica S.A. (Spain), Viasat Inc, (US), Telesat (Canada).

About MarketsandMarkets™

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

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

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

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

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

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Social and Emotional Learning Market Classification, Application, Industry Chain Overview, and Competitive Landscape To 2030

According to a research report "Social and Emotional Learning Market by Component, Solution (Social and Emotional Learning Platform, Social and Emotional Learning Assessment Tool), Service, User, Type (Web-based, Application) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global social and emotional learning market size is projected to grow from USD 2.7 billion in 2022 to USD 7.8 billion by 2027, at a compound annual growth rate (CAGR) of 24.0% during the forecast period.

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Solutions segment to account for largest market share during the forecast period

SEL platforms, programs, and assessment tools make up SEL solutions. Education professionals (schools/districts, teachers, parents, and communities) employ SEL platforms to support kids in developing their emotions, traits, empathy, connections, goals, responsibilities, and decision-making skills. Lessons, movies, and interactive modules in the form of audio, videos, games, and stories are available on these platforms. Only a few SEL providers make their SEL programs printable. The emotional and social development of pupils has long been a priority for educators in their experiential learning activities. As a result, educators all around the world are aggressively deploying SEL platforms. The operations are suspended for several stakeholders, including schools, districts, and NGOs. The usage of platforms has increased more rapidly in recent years. Because platforms may integrate new solutions over existing ones, their use has risen more quickly in recent years. These, however, cost a little more than standalone software. Spending on non-essentials has decreased as a result of the COVID-19 epidemic, and money has been saved in case of another financial crisis. Consequently, this has had an impact on SEL market expenditure as well.

SEL platforms is estimated to record largest market share during forecast period

The SEL platform, accessible in both online and offline formats, gives students the power to learn about social and emotional skills and a foundation on which to build their personal and professional journeys. The key competencies, according to CASEL’s frameworks, are self-awareness, self-management, social awareness, relational skills, and responsibly making decisions. Pre-K and kindergarten, elementary schools, middle schools, and high schools can all use the SEL platform. Worldwide, social groups and health organizations use it as well. The platform addresses abilities including friendship, self-esteem, behaviors, emotional recognition, hygiene, and play skills, in addition to conversation topics, self-regulation, school rules, problem-solving, basic and advanced conversational skills, situational awareness, and nonverbal communication.

Most suppliers provide evidence- and research-based SEL curricula. Most vendors provide educators with an SEL curriculum supported by data and research. These SEL platforms are equipped with a wide range of social and emotional skills that aid decision-makers in the educational sector in adjusting to the shifting social environment.

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North America to record highest market share in social and emotional learning market

In this study, North America is comprised of the US and Canada. It is one of the world’s most technologically advanced areas. The area has a well-connected sophisticated infrastructure, enabling SEL businesses to provide their customers with high-quality services. Through its network architecture, it provides the world’s most cutting-edge and quick services. The early deployment of cloud and mobile technology in North America has also been a significant factor in accepting SEL solutions to increase worker effectiveness and productivity. The biggest market vendors, including Committee for Children, EVERFI, Nearpod, Illuminate Education, and Panorama Education, are present. They are a major growth driver for the North American social and emotional learning industries. Schools and institutions around the region were forced to close and conduct classes remotely due to the COVID-19 pandemic. Many students suffer from mental health problems such as grief, worry, and sadness as a result of this. As these unpleasant feelings build up, it becomes harder to think clearly, make wise choices, act socially and productively, and use your mental resources. However, in order to address these problems, the federal and state governments are putting into place laws that are crucial in fostering the development of SEL programs across states and districts.

Key and innovative vendors in the social and emotional learning market are Committee for Children (US), EVERFI (US), Nearpod (US), Illuminate Education (US), Panorama Education (US), SchoolMint (US), Newsela (US), Playworks (US), Wings for Kids (US), Rethink Ed (US), Move This World (US), Positive Action (US), Growing Leaders (US), 7 Mindsets (US), Ori Learning (US), The Conover Company (US), Imagine Learning (US), Navigate360 (US), Peekapak (Canada), Paths Program LLC (US), Brighten Learning (US), Aperture Education (US), Taproot Learning (US), MeandMine (US), Base Education (US), Everyday Speech (US), Mozoom (Canada), Wayfinder (Canada), HeyKiddo (US), Classcraft (Canada), Tamboro (Brazil), and Persona Education (UK).

About MarketsandMarkets™

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

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

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

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

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

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Data Governance Market: Research Report, Segment, Industry Analysis, Size, Share,

The report Data Governance Market size is expected to grow from USD 2.1 billion in 2020 to USD 5.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period. Due to the rapidly increasing growth in data volumes, rising regulatory and compliance mandates, and enhancing strategic risk management and decision-making with the increasing business collaborations are expected to drive the growth of the data governance market.

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The risk management application segment is expected to have the largest market share during the forecast period.

The solution providers of the risk management application deliver significant value to businesses by ensuring their important financial data assets are formally managed throughout enterprises. These vendors provide automated risk management solutions to mitigate risks and align critical-business processes with the help of functions, such as managing IT security-based compliance mandates, including ISO 27001, and providing automated risk notifications. Risk management application and solution providers have the potential to deliver significant outcomes and reshape organizations’ businesses by providing automated solutions across multiple industry verticals.

The Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to dominate the market, whereas the retail and consumer goods industry vertical is expected to grow at the highest CAGR during the forecast period.

The Banking, Financial Services, and Insurance (BFSI) industry vertical has realized the significance of data management and governance, which help govern and secure multiple transactions in organizations. Financial institutions constantly face challenges, such as data quality and accessibility, and data security. Data governance solutions help these institutions and banks handle such challenges with effective data management solutions that can prevent data duplication and data loss. Moreover, data governance solutions help BFSI firms maintain an edge in the market, with constant updates to their policies and procedures.

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North America is expected to hold the largest market share, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.

The global data governance market has been segmented on the basis of regions that include North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest market size and continues to dominate the global data governance market from 2020 to 2025, due to the significant adoption of data governance and management solutions and the presence of a large number of vendors in the US. Enterprises in this region have quite well-established processes and the high-levels of technology awareness. The risk management and data management capabilities of these organizations are also high as compared to that of organizations in other regions. The increasing penetration rate in multiple industry verticals, such as BFSI, retail and consumer goods, IT and Telecommunications, and healthcare and life sciences, are expected to drive the market growth. APAC offers significant growth opportunities, owing to the growing technology expenditures in major countries, such as China, India, Singapore, and Australia, and the demand for cost-effective data management and governance solutions and services among Small and Medium-sized Enterprises (SMEs). These factors are expected to drive the market growth during the forecast period.

The major vendors of data governance solutions and services include  IBM (US), Oracle (US), SAP (Germany), SAS (US), Collibra (US), Informatica (US), Talend (US), TopQuadrant (US), Information Builders (US), Alation (US), TIBCO (US), Varonis (US), erwin (US), Data Advantage Group (US), Syncsort (US), Infogix (US), Magnitude Software (US), Ataccama (US), Reltio (US), Global Data Excellence (Switzerland), Global IDs (US), Innovative Routines International (US), Denodo (US), Adaptive (US), Microsoft (US), Zaloni (US), Alex Solutions (Australia), Microfocus (UK) and Mindtree(US).

About MarketsandMarkets™

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

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

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

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

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

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

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5G Services Market Global Leading Players 2023, Business Overview, Size Estimation, Revenue, Key Drivers 2030

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

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

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

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

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

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

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MarketsandMarkets™ INC.

630 Dundee Road

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USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Chaos Engineering Tools Market Segmented by Product, Top Manufacturers, Geography Trends & Forecasts to 2030

The global Chaos Engineering Tools Market size is expected to grow from USD 1.9 billion in 2023 to USD 2.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period. Modern IT systems have become highly complex, often involving microservices, containers, and cloud-based infrastructure. Chaos engineering tools are essential for testing and improving the resilience of these systems, which is expected to create demand during the forecasted period.

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By component, the services segment is expected to grow at the highest CAGR during the forecast period.

Chaos engineering is a relatively new discipline, and many organizations are still in the early stages of adopting it. As a result, there is a strong demand for professional services in the chaos engineering tools market. As organizations adopt chaos engineering practices, they often encounter hurdles related to strategy development, tool selection, implementation, and result interpretation. Professional services in this context offer invaluable guidance and expertise to help businesses tailor chaos engineering to their specific needs and goals. These services can assist in designing controlled experiments, identifying potential points of failure, and providing a structured framework for assessing and improving system resilience.

By deployment mode, the public cloud segment holds a larger market size during the forecast period.

The adoption of chaos engineering tools on public cloud platforms has seen remarkable growth, driven by cloud providers' scalability, flexibility, and cost-efficiency. For instance, Netflix, a pioneer in chaos engineering, utilizes Amazon Web Services (AWS) for its experiments, taking advantage of AWS's extensive global infrastructure to test system resilience. By leveraging the scalability and ease of deployment that public clouds offer, organizations can proactively identify vulnerabilities, improve incident response strategies, and ensure their services remain robust despite unexpected disruptions. This adoption trend aligns with the growing significance of public cloud environments in the chaos engineering environment, facilitating the continued evolution of these crucial practices.

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

Asia Pacific is home to some of the world's leading ICT companies, such as Alibaba, Tencent, and Baidu. These companies are investing heavily in chaos engineering tools to improve the reliability and resilience of their systems. The Asia Pacific governments are increasingly recognizing the importance of digital transformation. For instance, Singapore’s “Smart Nation” and South Korea's “Digital New Deal” emphasize digital transformation, providing fertile ground for chaos engineering adoption. Technological trends, such as microservices, AI, ML, and DevOps, are also driving the adoption of chaos engineering tools in the Asia Pacific region. Chaos engineering tools can be used to test microservices-based applications and ensure they are reliable and resilient. AI and ML can be used to develop more sophisticated chaos engineering tools.

Some of the key players operating in the chaos engineering tools market are – Microsoft (US), AWS (US), OpenText (US), Virtusa (US), Tricentis (US), Harness (US), Nagarro (Germany), PagerDuty (US), Cavission Systems (US), and Gremlin (US).

About MarketsandMarkets™

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

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

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

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

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

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

Contact:
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MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

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USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Image Recognition in CPG Market Key Players, SWOT Analysis, Dynamics, Drivers, Key Indicators

The global Image Recognition In CPG Market size to grow from USD 1.4 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.7 % from 2020 to 2025. Increased in the need for efficient and profitable retail execution processes with adherence to compliance standards and technological advancements to boost the adoption of image recognition in CPG market across the globe during the forecast period.

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Based on component, the hardware segment to account for the largest market size during the forecast period

This segment includes image sensors integrated with cameras. Hardware is an integral part of image recognition technology in the CPG market. Many companies like IBM and Qualcomm provide their company made sensors which help detect products, shelf life and even trends. For instance, Qualcomm offers the Vision Intelligence 400 platform that is built with powerful image processing and ML for smart camera products; it performs face detection, face recognition, product classification, and license plate recognition.

Based on application, the product and shelf monitoring analysis segment to account for the largest market size during the forecast period

The pandemic situation has forced people to concentrate more on online e-commerce businesses. Many leading retailers and CPG companies have adopted AI and image recognition technology for shelf monitoring and product identification. Computer vision and image recognition are used for product discovery, product recommendations and trend analysis.

Among regions, North America to account for the highest market share during the forecast period

North America is a significant contributor to the global image recognition in CPG market. The US and Canada are the major contributors to the North American market. Canada and the US are increasingly witnessing the merging of artificial intelligence with image recognition and augmented reality; this is expected to drive market growth in the region. The United States is home to major AI-based image recognition companies, leading to increasing adoption of the technology across the region. As a result, many companies are making their move towards the US market, intending to develop an assemblage of AI capabilities.

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Top Key Players:

The major image recognition in CPG market vendors include IBM (US), Google (US), Qualcomm (US), Microsoft (US), AWS (US), Trax (Singapore), Catchoom (Spain), Slyce (US), LTU Tech (France), Imagga (Bulgaria), Vispera (Turkey), Blippar (UK), Ricoh innovations (US), Clarifai (US), Deepomatic (France), Wikitude (Austria), Huawei (China), Honeywell (US), Toshiba (Japan), Oracle (US).

About MarketsandMarkets™

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

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

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

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

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

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

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Security Automation Market 2023 Driving Factors, Industry Growth, Key Vendors and Forecasts to 2030

The 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.

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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.

Top Key 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).

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