5G Services Market Size, Share, Growth | Industry Development and Forecast 2023-2030

The global 5G Services Market size is estimated at USD 121.8 billion in 2023 to USD 1,002.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 52.4%, according to a new report by MarketsandMarkets™. The innovative concept of network slicing in 5G represents a transformative leap in network customization, offering virtual, dedicated slices tailored to the unique requirements of specific applications or services. This capability is a pivotal driver for the diverse range of use cases enabled by 5G technology. For massive IoT deployments, network slicing allows the creation of dedicated slices optimized for handling a vast number of connected devices with varying communication needs.

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5G Services Market Dynamics:

Drivers:

1. Increase in mobile network data traffic.

Restraints:

1. High costs for deployment of 5G network.

Opportunities:

1. Growth in data generated by IoT devices creates new opportunities.

List of Key Players in 5G Services Market:

• AT&T (US)
• China Mobile (China)
• SK Telecom (South Korea)
• Verizon (US)
• BT Group (UK)
• Deutsche Telekom (Germany)
• China Telecom (China)
• Orange (France)
• Vodafone (UK)
• China Unicom (China)
• Telstra (Australia)
• Telefonica S.A (Spain)
• KT Corporation (South Korea)

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Simultaneously, in ultra-reliable low-latency communication (URLLC) scenarios, such as mission-critical applications in healthcare or industrial automation, dedicated slices ensure the stringent demands for real-time responsiveness and reliability are met. Network slicing thus becomes a crucial proponent in the adaptability of 5G, fostering a flexible and efficient network infrastructure that can accommodate the varied and evolving demands of a multitude of applications and industries.

“Based on communication type, the eMBB segment to hold the largest market size during the forecast period.”

The promise of significantly faster data speeds with 5G stands as a pivotal market driver for Enhanced Mobile Broadband (eMBB), reshaping the landscape of user experiences. This accelerated speed is a transformative force, particularly for data-intensive applications that have become integral to contemporary lifestyles. The ability of 5G to deliver higher download and upload speeds serves as a cornerstone for the flourishing demand in areas such as high-definition video streaming, virtual reality, and augmented reality. In the realm of video streaming, 5G facilitates seamless, buffer-free streaming of high-quality content, enhancing the user's entertainment experience. Moreover, in the realm of immersive technologies like virtual and augmented reality, the faster data speeds of 5G contribute to reduced latency, ensuring a more responsive and realistic user experience. This heightened speed not only meets current consumer expectations but also unlocks the potential for novel applications and services, driving market growth as businesses and consumers alike seek the enhanced capabilities that 5G brings to the forefront.

“By end user, enterprise segment is expected to hold a higher growth rate during the forecast period.”

Enterprises across various sectors are increasingly drawn to the deployment of private 5G networks as a strategic driver within the enterprise segment. This trend is particularly pronounced in industries where having dedicated and reliable communication networks is imperative for driving automation, robotics, and process optimization. Private 5G networks offer businesses a higher degree of control over their connectivity infrastructure, providing a dedicated and secure environment for mission-critical applications. In sectors like manufacturing, for instance, where seamless communication between machines and devices is essential for operational efficiency, private 5G networks serve as a foundational technology. The ability to tailor network parameters and allocate resources according to specific business needs empowers enterprises to optimize their connectivity for diverse applications. This adaptability, coupled with the low-latency and high-bandwidth characteristics of 5G, positions private networks as a key enabler for realizing the full potential of Industry 4.0, smart factories, and other advanced technologies within the enterprise landscape. The pursuit of these benefits propels the adoption of 5G in the enterprise sector, fostering a paradigm shift in how businesses approach and leverage their connectivity infrastructure.

“North America is expected to hold the second largest market size during the forecast period.”

The deployment of 5G infrastructure in North America is considered a powerful catalyst for economic growth, job creation, and technological innovation. The robust and high-speed connectivity offered by 5G networks serves as a foundational element for various industries, from telecommunications and manufacturing to healthcare and smart cities. As businesses embrace the capabilities of 5G, they stimulate demand for advanced technologies, such as the Internet of Things (IoT), edge computing, and artificial intelligence. This surge in technological adoption, coupled with the need for skilled professionals to design, implement, and manage 5G networks, contributes to job creation and the growth of a specialized workforce. Furthermore, the public and private sectors recognize the potential for 5G to drive economic competitiveness on a global scale. Consequently, increased investments are being made to develop and expand 5G infrastructure, fostering an ecosystem that not only meets current connectivity needs but also positions North America at the forefront of technological innovation and economic development.

Market Players

The major vendors covered in the 5G Services market are AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), China Telecom (China), Orange (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica S.A (Spain), KT Corporation (South Korea), Roger Communications (Canada), Bell Canada (Canada), Etisalat (UAE), Saudi Telecom Company (Saudi Arabia), LG Uplus  (South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), Dish Network (US), Reliance Jio Infocomm (India), Rakuten Group (Japan), MTN Group (South Africa), Bharti Airtel Limited (India), Telenor Group (Norway), JMA Wireless (US), Verana Networks (US), Celona (US), Mangata Networks (US), Airspan Networks (US), Edge Q (US), Omniflow (US), Aarna Networks (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the 5G Services market.

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

Remote Work Security Market - Growth, Trends, Industry Outlook, Growth Opportunity, Business Growth And Forecast (2023 - 2030)

The global Remote Work Security Market size is expected to reach USD 136.0 billion by 2028 from USD 51.7 billion in 2023, at a CAGR of 21.3 % during 2023–2028. The adoption of remote work has experienced a remarkable surge in recent years, driven by advancements in technology and the global impact of the COVID-19 pandemic. Organizations of all sizes have embraced this paradigm shift, solidifying its widespread acceptance during the crisis.

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According to Citrix’s 2022 report, ‘The State of Security in a hybrid work environment,’ 52% of security decision-makers foresee a future where most of the workforce would either be permanently remote or adopt a hybrid work model. Moreover, the advantages of remote work are numerous, offering increased flexibility, cost savings, and access to a global talent pool. Employees appreciate the improved work-life balance and reduced commuting stress, as highlighted by the survey conducted by GitLab in 2022. The study found that 80% of employees experienced reduced job-related stress when working remotely.

Additionally, remote work has contributed to decreased sick leave days (50%) and fewer absences (56%) among remote employees. As a result, the long-term impact of remote work on traditional workspaces is undeniable, fostering a more connected and agile workforce that transcends geographical boundaries. Organizations are embracing this new normal, recognizing the potential for enhanced productivity and employee well-being.

The network security registers the highest market size in the remote work security market during the forecast period.

Network security is a fundamental component of remote work security, primarily concerned with safeguarding the communication channels and data transfers between remote employees and an organization’s network infrastructure. Network security becomes paramount in remote work scenarios, where employees access corporate resources from various locations, including home and public networks. It involves using Virtual Private Networks (VPNs) to encrypt data on public networks, firewalls for traffic monitoring and filtering, and Intrusion Detection and Prevention Systems (IDS/IPS) for real-time threat detection and prevention. Network security in remote work environments fortifies the connections and data flows between remote employees and the organization’s network. This ensures that data privacy, integrity, and confidentiality are upheld, even in remote work’s dynamic and dispersed landscape.

The retail & e-commerce segment is projected to register the highest CAGR during the forecast period.

Retail and e-commerce companies handle sensitive information, including customer payment details, personal data, and proprietary business strategies. Therefore, ensuring the security of this data is paramount. Remote work security measures in this sector encompass various aspects. Firstly, organizations must secure remote access to their systems and networks to prevent unauthorized entry and data breaches. Robust authentication methods and secure VPNs are standard tools used for this purpose. Data encryption is crucial to protect sensitive customer information and payment transactions. Encryption ensures that even if data is intercepted, it remains unintelligible to unauthorized parties. Moreover, businesses in this sector must adhere to stringent compliance standards, such as PCI DSS (Payment Card Industry Data Security Standard), which sets guidelines for securing payment card data. Non-compliance can lead to severe financial penalties and damage to brand reputation.

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

The Asia Pacific countries are highly concerned about increased security spending due to the ever-growing threat landscape. The region comprises emerging economies like China, Japan, and India. With effective government regulations and technological advancements, remote work security is witnessing high growth opportunities in this region. The Asia Pacific remote work security market is experiencing substantial growth, primarily driven by the increasing acceptance of remote work, cloud adoption, and the imperative for enhanced security in remote work environments. The COVID-19 pandemic necessitated rapid remote work adoption and prompted significant investments in security control systems to protect remote employees. While the pandemic was pivotal in driving the remote work security market, a surge in highly sophisticated cyberattacks targeting critical infrastructure and government entities has further compelled regional organizations to bolster their investments in remote work security technologies.

Top Key Players:

The report profiles key players such as Cisco (US), VMware (US), Palo Alto Networks (US), Check Point (Israel), Fortinet (US), Microsoft (US), IBM (US), Trend Micro (Japan), Broadcom (US), Cloudflare (US), Sophos (UK), ZScaler (US), Citrix (US), CyberArk (US), Crowdstrike (US), Forcepoint (US), Proofpoint (US), ESET (Slovakia), Seclore (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

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

The global Cloud Security Market size is projected to grow from USD 40.7 billion in 2023 to USD 62.9 billion by 2028 at a CAGR of 9.1% during the forecast period. The cloud security market experienced substantial growth due to the rising adoption of multi-cloud environments, the expansion of DevSecOps practices, increased utilization of AI and ML for cloud security, and the growing trend of BYOD and CYOD, which led to an increased demand for cloud security solutions.

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By vertical segment, the retail & eCommerce vertical will grow at the highest CAGR during the forecasted period.

The retail and eCommerce industry is experiencing the highest CAGR in the cloud security market due to the increased adoption of cloud technologies for digital transformation. Data protection has become a priority, with more sensitive customer data and financial transactions being processed in the cloud. Retailers also face a higher risk of cyberattacks and data breaches, leading to the demand for advanced cloud security solutions. The COVID-19 pandemic has further accelerated the shift towards online shopping, boosting the adoption of cloud technologies in this sector. To tap into this growth opportunity, cloud security providers are customizing their solutions to meet the specific needs of retail and eCommerce, ensuring seamless integration and compliance with industry regulations. Thus, the retail and eCommerce segment is projected to have the highest CAGR during the forecast period.

By Type, Visibility and Risk Assessment holds the largest market size during the forecast period.

By type, Visibility and Risk Assessment hold the largest market size in the cloud security market due to their critical role in enhancing overall cloud security. As cloud environments grow in complexity and scale, organizations face challenges in effectively identifying and managing potential security risks. Visibility solutions provide real-time insights into cloud assets, configurations, and activities, enabling businesses to monitor and detect any suspicious behavior or vulnerabilities proactively. On the other hand, risk assessment tools help organizations assess the security posture of their cloud infrastructure, applications, and data. By conducting thorough risk assessments, businesses can prioritize security measures, allocate resources efficiently, and proactively address potential threats. These capabilities are essential as they empower organizations to stay ahead of evolving cyber threats and maintain a robust security posture in their cloud deployments. The need for comprehensive visibility and risk assessment solutions has grown exponentially as businesses recognize their critical role in safeguarding sensitive data and maintaining compliance with industry regulations.

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Market Players:

IBM (US), Broadcom (US), Check Point (Israel and US), Google (US), AWS (US), Zscaler (US), Akamai Technologies (US), Forcepoint (US), Fortinet (US), F5 (US), Qualys (US), TrendMicro (Japan), Palo Alto Networks (US), Proofpoint (US), Tenable (US), Netskope (US), Microsoft (US), Cisco (US), Imperva (US), Trellix (US), Rapid7 (US), Skyhigh Security (US), FireMon (US), Sysdig (US), LookOut (US), Fidelis Cybersecurity (US), DataTheorem (US), OpsCompass (US), Tufin (US), Menlo Security (US), Tigera (US), Orca Security (US), Ascend Technologies (US), Secberus (US), Ermetic (Israel), Sonrai Security (US), Wiz (US), Caveonix (US), Banyan cloud (US), and AccuKnox (US) are the key players and other players in the cloud security market.

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

 

Cloud Native Storage Market Size, Unveiling the Potential Scope for 2023-2030

The global Cloud Native Storage Market size is projected to grow from USD 16.0 billion in 2023 to USD 45.8 billion by 2028, at a compound annual growth rate (CAGR) of 23.3% during the forecast period. The cloud native storage market is expected to grow significantly during the forecast period, owing to various business drivers like increased data volumes across enterprises, ease of switching from on-premises to cloud native storage, and increased automation in application updates.

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By offering, services segment to register for the highest CAGR during the forecast period.

The services segment of the cloud native storage market is growing rapidly. Services offer the underlying infrastructure, expertise, and support services to help organizations effectively leverage cloud-native storage technologies in the market. Cloud native storage services help ensure the security and compliance of data stored in cloud native solutions. They offer encryption, access control, and compliance monitoring tools to meet regulatory requirements.

By application, backup and recovery to register for the highest market size during the forecast period.

Backup and recovery applications are designed to protect data from loss, corruption, or accidental deletion. They create copies of data at specific points in time, ensuring that a recent and consistent version of the data is always available for recovery. Furthermore, backup and recovery applications are essential to a robust data management strategy for cloud-native storage solutions. They help organizations protect their data, ensure data availability, and provide a safety net in case of data loss or disasters.

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

Asia Pacific is witnessing significant technological innovation in cloud native storage. Many regional organizations were undergoing digital transformation efforts, including migrating to the cloud and adopting cloud native technologies. This shift necessitated modern and scalable storage solutions to support cloud native applications. Few of the leading countries, including China, India, Japan, South Korea, and Southeast Asian nations, witness substantial cloud adoption rates. Cloud providers like AWS, Azure, Google, Alibaba Cloud, and regional providers offered cloud native storage services that catered to the diverse needs of businesses in the region.

Some major players in the cloud native storage market include Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), HPE (US), Dell Technologies (US), NetApp (US), Pure Storage (US), SUSE (Germany), VMWare (US), Oracle (US), Huawei (China), Citrix (US), Tencent Cloud (China), Scality (US), Splunk (US), Linbit (US), and Rackspace (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

6G Market: Research Report, Segment, Industry Analysis, Size, Share,

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™ 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

Geospatial Analytics Market Size and Share Analysis by 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™ 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

Artificial Intelligence Market Analysis, Key Growth Drivers, Challenges, Leading Key Players Review, Upcoming Trend to 2030

The global Artificial Intelligence Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period, to reach USD 1,345.2 billion by 2030 from USD  150.2 billion in 2023. The adoption of artificial intelligence (AI) technology has been remarkable since its introduction, leading to significant growth in the global market. This growth attributed to the increasing demand for artificial intelligence technologies across diverse industry verticals.

Organizations are recognizing the transformative potential of artificial intelligence in improving operational efficiency, enhancing customer experiences, and driving innovation. Artificial Intelligence technology such as machine learning, natural language processing, computer vision, and others are revolutionizing various sectors, including healthcare, finance, manufacturing, and retail. The advancements in AI algorithms, computing power, and data availability are further fueling the growth of the AI market, as businesses seek to leverage the potential of AI to gain a competitive edge in the digital era.

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

The artificial intelligence market is segmented on verticals into retail & eCommerce, BFSI, Government & Defense, Healthcare & Life Sciences, Telecom, Energy & Utilities, Manufacturing, Agriculture, IT/ITeS, Media & Entertainment, Automotive, Transportation and Logistics and other verticals (Construction, education, and travel and hospitality). As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. This industry is experiencing significant growth and is poised to contribute significantly to the global artificial intelligence market. Artificial intelligence applications in healthcare & life sciences includes patient data and risk analysis, medical imaging and diagnostics, precision medicine, drug discovery, and much more. The use of electronic medical records has led to the expansion of patient data, while the risk analysis market benefits from artificial intelligence systems' risk management and predictive analytics capabilities for payers and healthcare providers. These advancements in artificial intelligence technology are driving innovation and transformation within the healthcare sector.

By business function marketing and sales accounts to hold the largest market size during the forecast period

As per business function, marketing and sales segment to hold the largest market size for the artificial intelligence market during the forecast period. With the aid of AI-powered algorithms, businesses personalize their marketing campaigns, target the right audience, and deliver relevant content at the optimal time. Artificial intelligence also enhances sales processes by providing predictive analytics, lead scoring, and automated customer support through chatbots. Furthermore, artificial intelligence enables advanced data analytics and segmentation, optimizing sales funnels and improving conversion rates. The adoption of artificial intelligence in marketing and sales is reshaping how businesses engage with customers, optimize their strategies, and drive revenue growth.

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As per region, Asia Pacific is anticipated to growth at the highest CAGR during the forecasted period

As per region, Asia Pacific is anticipated to grow at the highest CAGR during the forecasted period. The adoption of artificial intelligence (AI) in the Asia Pacific region is experiencing significant growth. With advancements in technology, increased digitalization, and a focus on innovation, businesses and governments in Asia Pacific are embracing artificial intelligence solutions across various sectors. Additionally, the availability of skilled talent and robust infrastructure further fuels the growth of artificial intelligence across the region. As a result, Asia Pacific is emerging as a hub for AI innovation and implementation.

Some of the major artificial intelligence market vendors are Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), Meta (US), HPE (US), Siemens (Germany), Huawei (China), NVIDIA (US), Baidu (China), SAS Institute (US), OpenAI (US), H2O.ai (US), iFLYTEK (China), Alibaba Cloud (China), General Vision (US), Darktrace (UK), Blackberry Limited (Canada), DiDi Global (China), Face++ (China), Inbenta (US), Anju Software (US), Butterfly Network (US), Atomwise (US), AIBrain (US), SK Hynix (South Korea), Progress (US), PrecisionHawk (US), AgEagle Aerial System (US), Neurala (US), Twitter (US), Aurea Software (US), Persado (US), 8x8 (US), Appier (Taiwan), GumGum (US), IPRO (US), Graphcore (UK), Preferred Networks (Japan), Applied Brain Research (Canada), Pilot AI (US), Iris Automation (US), Gamaya (Switzerland), ec2ce (Spain), Descartes Labs (US), Mythic (US), Ada (Canada), Mostly AI (Austria), Sentient.io (Singapore), Lumen5 (Canada), AI Superior (Germany), Fosfor (India), Intrinsic (US), Jasper (US), Soundful (US), Writesonic (US), One AI (Israel).

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