Virtual Extensible LAN Market Current Growth Rate, Future Outlook And Forecast To 2030

The global Virtual Extensible LAN Market size is expected to reach USD 3.2 billion by 2029 from USD 1.6 billion in 2024, at a CAGR of 15.0 % during 2024–2029, according to a new report by MarketsandMarkets™. The shift towards network virtualization is driving demand for VXLAN. Virtualization allows organizations to create more agile and flexible network environments. VXLAN, by creating virtual networks overlaid on physical infrastructure, supports this trend by offering enhanced scalability and segmentation, essential for modern virtualized data centers and cloud environments.

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List of Key Players in Virtual Extensible LAN Market:

• Cisco Systems (US)
• Hewlett Packard Enterprise (US)
• VMware (US)
• Juniper Networks (US)
• Arista Networks (US)
• Nutanix
• (US)
• NVIDIA Corporation (US)
• Citrix Systems (US)
• Dell Technologies Inc (US)
• Microsoft Corporation
• (US)
• Huawei (China)
• Nokia Corporation (Finland)

The healthcare vertical segment is projected to register the highest CAGR during the forecast period.

Healthcare organizations rely on VXLAN to create secure, scalable networks that support the increasing use of digital health technologies and electronic health records (EHR). VXLAN enables the segmentation of sensitive patient data, ensuring compliance with regulatory requirements like HIPAA. It also facilitates seamless connectivity across different locations, supporting telemedicine, remote monitoring, and mobile health applications. By providing a flexible network infrastructure, VXLAN helps healthcare providers improve patient care and operational efficiency.

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The VXLAN Enabled Network Operating Systems (OS) software segment contributed the largest market share in the VXLAN  market during the forecast period.

VXLAN-enabled network operating systems (OS) provide the necessary software framework to support VXLAN features, such as the encapsulation and decapsulation of VXLAN packets and the management of VXLAN tunnels. Major network operating systems solutions, including Cisco's NX-OS, Arista's EOS, and Juniper's Junos, offer robust VXLAN support, enabling network devices to efficiently handle the complexities of network virtualization. These network operating systems platforms come with advanced features like automated provisioning, network segmentation, and policy enforcement. They are designed to optimize network performance and scalability, making them suitable for large-scale deployments in data centers and enterprise environments.

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

The VXLAN market in the Asia Pacific region is expanding rapidly, driven by significant investments in cloud infrastructure and data center modernization. Countries like China, India, and Japan are at the forefront of this growth, with major cloud service providers and enterprises upgrading their network infrastructures to support digital transformation initiatives. The increasing adoption of cloud computing, along with the need for scalable, multi-tenant network environments, has propelled the demand for VXLAN. Additionally, the proliferation of IoT devices in sectors such as manufacturing, smart cities, and healthcare is creating a need for robust network solutions that can handle extensive, dispersed endpoints while ensuring high performance and security. VXLAN addresses these needs by providing scalable network segmentation and efficient traffic management, essential for managing large-scale, dynamic networks.

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

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

 

 

 

Managed Detection Market Classification, Application, Industry Overview, And Competitive Landscape To 2030

 The global MDR Market Size is estimated to be worth USD 4.1 billion in 2024 and is projected to reach USD 11.8 billion by 2029, at a CAGR of 23.5% during the forecast period, according to a new report by MarketsandMarkets™. The Managed Detection and Response (MDR) market is driven by the increasing complexity of cyber threats and the necessity for businesses to maintain robust, real-time security without significant investment in in-house resources.

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MDR Market Dynamics:

Drivers:

1. Growing incidents of business email compromise, ransomware, and crypto-jacking threats.
2. Addressing gap in cybersecurity skills and overwhelming alert volumes
3. Government regulations and need for compliance to drive adoption of MDR services
4. Technological proliferation and increasing penetration of IoT

Restraints:

1. Lack of trust in third-party applications.
2. Cost of MDR services to be inhibitor for organizations
3. False positives to hinder effectiveness of MDR services

Opportunities:

1. Introduction of ML/AI-powered MDR services.
2. Increasing adoption of MDR across SMEs
3. The benefits of scalability for MDR services

List of Key Players in MDR Market:

• CrowdStrike (US)
• Rapid7 (US)
• Red Canary (US)
• Arctic Wolf (US)
• Kudelski Security (Switzerland)
• SentinelOne (US)
• Proficio (US)
• Expel (US)
• Secureworks (US)
• Alert Logic (US)
• Trustwave (US)
• Mandiant (US)

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Based on the deployment type, the cloud segment is to grow at the highest CAGR during the forecasted period

The MDR market is divided into on-premises and cloud deployment modes. Amongst them, the cloud deployment mode has the highest CAGR due to its scalability, cost-effectiveness, rapid deployment, remote monitoring capabilities, advanced analytics, and integration opportunities. Additionally, it allows organizations to easily adjust resources, reduce upfront investments, quickly implement services, monitor incidents remotely, leverage advanced technologies, and integrate with other security tools, driving its growth in the market. Thus, the cloud deployment mode accounts for the highest CAGR during the forecasted period.

By organization size, SMEs to hold a larger market size during the forecast period

The organization size in the MDR market is segmented into large enterprises and SMEs. Amongst them, SMEs contribute to a larger market size due to increasing cyber threats targeting them, they have limited internal resources for cybersecurity, and they are increasingly subjected to compliance regulations and standards. Also, MDR services offer a cost-effective approach for SMEs compared to building and maintaining an in-house security operations center, focusing on core competencies, and scalability to accommodate business growth. Additionally, MDR provides SMEs with access to expert security services, advanced tools, and compliance support, allowing them to enhance their cybersecurity posture effectively. Thus, the SMEs segment holds a larger market size during the forecast period.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period

The Asia Pacific region accounts for growth in MDR due to factors such as stringent regulatory compliance, strong cybersecurity preparedness, collaborative initiatives by market players, increasing cyber threats, and economic and technological advancements. These factors drive the adoption of MDR services in the region to protect business and customer data and enhance overall cybersecurity. As a result, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecasted period.

CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US), Kudelski Security (Switzerland), SentinelOne (US), Proficio (US), Expel (US), Secureworks (US), Alert Logic (US), Trustwave (US), Mandiant (US), Binary Defense (US), Sophos (UK), eSentire (Canada), Deepwatch (US), Netsurion (US), GoSecure (US), LMNTRIX (US), UnderDefense (US), Ackcent (Spain), Cybereason (US), Critical Start (US), Cysiv (US), and Critical Insight (US) are the key players and other players in the MDR 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:
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MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

 

Cloud Services Brokerage Market Share, Trend, Global Industry Growth, Price, Future Analysis, Regional Outlook To 2030

The global Cloud Services Brokerage Market size is expected to grow from USD 5.9 billion in 2020 to USD 12.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period, according to a new report by MarketsandMarkets™. The flexibility and agility of cloud-based models would support the IT service needs of enterprises. The leading CSPs/hyper scalers—Microsoft, IBM, and AWS—are expected to increase their CAPEX primarily for data center expansion to support the increasing workload for their internal and external stakeholders.

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Cloud Services Brokerage Market Dynamics:

Drivers:

1. Growing adoption of hybrid cloud and multi-cloud strategies across enterprises of different industry verticals.
2. Increased need to avoid vendor lock-in

Restraints:

1. Regulatory compliance issues.

Opportunities:

1. Growing demand among SMEs.
2. Proactive investments by enterprises in cloud-based models

List of Key Players in Cloud Services Brokerage Market:

• Accenture (Ireland)
• IBM (US)
• VMware (US)
• Jamcracker (US)
• ActivePlatform (Belarus)
• Arrow Electronics (US)
• Cloudmore (Sweden)
• Wipro (India)
• DXC Technology (US)
• iPortalis (UK)

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The sudden shutdown of offices, schools, colleges, and physical retail stores has massively disrupted operations; this has led to an increase in the demand for digital workplace tools and services, such as Zoom, Slack, Blackboard, Lynda, Canvas, Google Classroom, AnyMeeting, and Moodle. AWS, Microsoft, and Google host and manage all applications in a public cloud environment. Increased spend on cloud services by select industries due to COVID-19. Industries such as IT and ITeS, telecom, online retail/commerce, media, and BFSI, are expected to increase spending on cloud-based services to sustain their business. Highly regulated and cash-rich industries, such as BFSI, are also expected to move selective workloads to public cloud environments.

The market is expected to be driven by the need of cloud migration and customization

Cloud migration services have gained popularity as enterprises across the globe continue to migrate workloads from on-premises infrastructure to cloud environments for better operational efficiency and cost savings. The demand for cloud services has surged in recent times due to COVID-19, and many enterprises across the regions have shifted enterprise workloads on cloud environment. Therefore, CSB vendors specializing in migration and customization services are in high demand. Cloud brokers offer customization services to the customers as per business needs, which provides better-bundled offerings facilitating higher returns on cloud investments.

Increased security capabilities and customized costing in private cloud-based services is driving the adoption of private cloud-based deployment

A private cloud is a computing model that offers a proprietary environment dedicated to a single business entity. A private cloud provides extended and virtualized computing resources. This deployment model enables a company to have better control over its data and reduce risks, such as data loss and issues related to regulatory compliance. The private cloud is used in banking and financial institutions, large enterprises, and government organizations, where only authorized users can access the system. The acceptance of private cloud deployments for enterprises with compliance concerns is due to its security and control benefits. Service providers offering hosted private cloud address significant essentials of compliance with regulations, such as HIPAA and PCI. Some of the popular private cloud providers are VMware, DXC, Dell EMC, Oracle, IBM, and Microsoft.

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North America to dominate the global CSB market in 2020

North America has been continued to dominate the CSB market in terms of revenue and is expected to have the largest market size among regions in the CSB market as the organizations are shifting toward cloud-based solutions and services with the increasing adoption of digital business strategies. This trend is expected to continue during the forecast period. North America is a mature market due to the presence of various players offering CSB. Enterprises are increasing their budgets to accommodate CSB, which is favoring the growth of the CSB market in North America. The US and Canada are the top countries in North America, which contribute to the CSB market. The US, being a major economy, holds a significant market share due to the country’s technological advancements and the inclination toward innovation and the adoption of new technologies. Organizations have invested substantially in advanced technologies to gain a competitive advantage and increase business productivity. The CSB market is expected to grow steadily as enterprises are adopting cloud-based solutions and services at various levels as a part of their strategy to sustain themselves in the market and achieve improved business functioning.

The CSB market includes major vendors, such as Accenture (Ireland), IBM (US), VMware (US), Jamcracker (US), ActivePlatform (Belarus), Arrow Electronics (US), Cloudmore (Sweden), Wipro (India), DXC Technology (US), iPortalis (UK), Cognizant  (US), InContinuum (Netherlands), Flexera (US), BitTitan (US), OpenText (Canada), CloudFX (Singapore), Proximitum (UK), Eshgro (Netherlands), NEC (Japan), AWS (US), CloudSME (Germany), Shivaami (India), NTT Data (US), Infosys (India), TCS (India), Pax8 (US), Oracle (US), Fujitsu (Japan), Microsoft (US), Capgemini (France), and Doublehorn (US) The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Accenture, IBM, VMware, Jamcracker, and ActivePlatform have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the CSB 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

Micro Mobile Data Center Market Outlook, Recent Trends And Growth Forecast 2023-2030

The global Micro Mobile Data Center Market is expected to grow from USD 5.2 billion in 2024 to USD 9.6 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 13.3% during the forecast period, according to a new report by MarketsandMarkets™. Micro Mobile Data Centers (MMDCs) are compact, portable solutions that provide essential computing, storage, and networking capabilities in diverse environments.

They offer flexibility and scalability, catering to the increasing demand for edge computing and IoT applications. With their modular design and mobility, MMDCs are well-suited for rapid deployment in remote locations or temporary setups, making them integral components of modern IT infrastructure.

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Micro Mobile Data Center Market Dynamics:

Drivers:

1. High emphasis on security and threat detection integrated systems.

Restraints:

1. Lack of standardization.

Opportunities:

1. Focus on flexible and scalable IT infrastructure.

List of Key Players in Micro Mobile Data Center Market:

• Schneider Electric (France)
• HPE(US)
• Dell(US)
• Vertiv(US)
• Huawei(China)
• Eaton(Ireland)
• IBM(US)
• Rittal (Germany)
• Panduit(US)
• and Stulz(Germany)

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By application, the edge computing & IoT deployment segment will hold the largest market size during the forecast period.

With the rise of edge computing, processing is moved closer to the data source, reducing latency and improving efficiency. Edge computing enables real-time data analysis and decision-making, crucial for applications like IoT, where immediate responses are often necessary. Micro mobile data centers provide the infrastructure needed to support IoT deployments by offering computing power and storage capacity close to IoT devices.

Businesses are increasingly adopting edge computing solutions to meet the demands of real-time applications and reduce latency. This demand drives the need for micro mobile data centers that can be quickly deployed at the edge. The IoT market continues to expand across various industries, including manufacturing, healthcare, transportation, and smart cities.

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By region, the Asia Pacific will grow at the highest growth rates during the forecast period.

The Asia Pacific region is experiencing a significant surge in the adoption of micro mobile data centers, driven by several key growth factors. These compact and versatile data centers offer unique advantages that align with the region's dynamic technological landscape and burgeoning digital infrastructure needs. The Asia Pacific region is home to some of the fastest-growing cities globally. Countries like China, India, and Japan heavily invest in smart city projects, which require robust, low-latency data processing capabilities. The deployment of 5G technology is accelerating across the Asia Pacific region. Nations such as South Korea, China, and Japan are at the forefront of 5G implementation. Micromobile data centers support the 5G infrastructure by providing localized data processing, which is essential for minimizing latency and enhancing network performance.

Key Players

Some of the key players operating in the micro mobile data center market are – Schneider Electric (France), HPE(US), Dell(US), Vertiv(US), Huawei(China), Eaton(Ireland), IBM(US), Rittal (Germany), Panduit(US), and Stulz(Germany).

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

 

Application Modernization Services Market 2030: Key Companies, Trends, Growth And Regional Forecasts

The global Application Modernization Services Market size is expected to grow from USD 15.2 billion in 2022 to USD 32.8 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 16.7% during the forecast period, according to a new report by MarketsandMarkets™. The benefit of modernizing apps is that they won't just function with the newest technology, they will continue to function as the technology changes. This enables fast updates and modifications to satisfy present and upcoming business requirements.

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Top 10 Companies in Application Modernization Services Market:

• IBM (US)
• Accenture (Ireland)
• HCL Technologies (India)
• Atos (France)
• Capgemini (France)
• Cognizant (US)
• TCS (India)
• Bell Integrators (US)
• Innova Solutions (US)
• Oracle (US)

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Additionally, application modernization services enable automatic scaling, which helps applications to immediately lower expenses in response to abrupt drops in demand while maintaining good performance in the event of rapid demand spikes. Modernizing existing applications can sometimes be simpler than developing brand-new ones from scratch. Instead of integrating fully new apps into present operations, app modernization services help to preserve many current processes and maintain business continuity.

As per vertical, IT and ITeS segment to grow at the highest CAGR during the forecast period

The application modernization services market, by vertical, BFSI, healthcare and life sciences, telecommunication, IT & ITeS, retail & consumer goods, government and public sector, energy & utilities, manufacturing, and other verticals. As per vertical, IT and ITeS industry is expected to grow at the highest CAGR of 17.8% during the forecast period. Application modernization services are designed to lower the ongoing expenses associated with maintaining old apps, enhance their functionality, performance, and security, and ensure that the improved solutions are long-term scalable and simple to manage. Vendors provide end-to-end app modernization services to assist businesses in deriving new value from their old applications while adhering to established software modernization and risk management procedures in IT and ITeS industry. Various software systems are utilized by a lot of software companies to manage resources and improve output. IT and ITeS organizations must stay current with the newest applications in this industry since they operate in highly competitive environments. There are many SMEs and a small number of very large businesses in the IT and ITeS area. Depending on an organization's size and the complexity of its business processes, application modernization services may be required. This industry is constantly keen to seize digital opportunities. It is updating its old software to support digital client experience. The rising subscriber count and rising usage of various media and digital content technologies are driving the demand for application modernization services throughout this vertical. Compared to conventional, capital-intensive, and cloud-based services, these more agile and adaptable application modernization services are provided through scalable, cost-effective methods. Since the IT and ITeS sector employs a sizable workforce, particularly in North America and Asia Pacific, it requires strong inter-organizational communication to boost organizational agility and efficiency.

As per organization size, SMEs are to grow at the highest CAGR during the forecast period

The application modernization services market has been segmented by organization size into large enterprises and SMEs. As per organization size, SMEs is expected to grow at the highest CAGR of 18.8% during the forecast period. With the increasing number of SMEs worldwide, the requirement for application modernization services is also increasing. These organizations frequently employ aggressive strategic planning to back up and grow their business. They must apply cutting-edge technology solutions and the most recent fashions in their business. Application modernization enables these companies to develop and grow their operations affordably. SME development affects the development of developing economies since they have a large impact on Gross Domestic Product (GDP). SMEs now hold a reduced market share as they lack the proper decision-making structures and resources to choose the best framework and strategy for adopting modernization services. Furthermore, due to considerations including insufficient funding, difficulties maintaining company continuity due to supply chain and travel limitations, a drop in regular demand, and an increase in debts, the current state of the global recession is also anticipated to influence their growth in the future. Therefore, it is anticipated that these firms will use application modernization services to improve agility and substantially lower TCO. In the SMEs category, this is anticipated to accelerate the development of application modernization.

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As per cloud deployment mode, private cloud segment to capture a large market share during forecast period

The application modernization services market has been segmented by cloud deployment mode into public cloud and private cloud. As per cloud deployment mode, the private cloud is expected to grow at the highest CAGR of 17.9% during the forecast period. Private cloud use is anticipated to increase during the projection period as a result of growing security concerns and cyberattacks. Private cloud deployment enables fast IT resource transformation by maintaining services and infrastructure on a private cloud network. Private clouds that offer high levels of scalability, security, and flexibility are adopted by businesses. Many large-scale enterprises with higher investment and resource availability also adopt the private cloud deployment approach. Furthermore, the private cloud is protected by a firewall; there is less risk of internet security breaches. The advantages of a private cloud cannot be overstated because they offer greater security, dependability, usability, and efficiency for companies looking to have complete control over their application modernization services. Adopting the private cloud lowers the risks, security concerns, and regulatory barriers involved. It is also well-liked by businesses that need a safe environment to keep mission-critical data. Therefore, efficiency and good performance are ensured by the deployment of the private cloud inside the firewall of an organization's intranet.

Some of the major application modernization services market vendors are IBM (US), Accenture (Ireland), HCL Technologies (India), Atos (France), Capgemini (France), Cognizant (US), TCS (India), Bell Integrators (US), Innova Solutions (US), Oracle (US), Microsoft (US), EPAM Systems (US),  Aspire Systems (India), NTT Data (Japan), Dell Technologies  (US), DXC Technology (US), Infosys (India), LTI (India), Wipro (India), Micro Focus (UK), Fujitsu (Japan), Softura (US), Hexaware Technologies (India), Virtusa (US), and MongoDB (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

 

Passenger Information System Market 2030: Key Companies, Trends, Growth And Regional Forecasts

The global Passenger Information System Market size is expected to reach USD 52.6 billion by 2028 from USD 29.3 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period, according to a new report by MarketsandMarkets™. The competitive landscape and the existence of a robust vendor ecosystem play a pivotal role in propelling innovation and development within the passenger information system market.

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Passenger Information System Market Dynamics:

Drivers:

1. Rise in demand for smart public transportation systems, including real-time transit information of passengers.
2. Increase in adoption of handheld devices led to rise in connectivity and usage of advertising and information systems
3. Advancements in technological solutions to enhance passenger experience
4. Rise in urban population and traffic in public transportation systems

Restraints:

1. High costs involved in implementing and maintaining passenger information systems
2. Stringent transportation regulatory policies.

Opportunities:

1. Adoption of IoT, 5G, and automation technologies to enhance technological optimization.
2. Increase in penetration of cloud, big data, and analytics in PIS
3. Decline in vehicle ownership with advancements in Mobility-as-a-Service (MaaS)

List of Key Players in Passenger Information System Market:

• Advantech Co.
• (Taiwan)
• Alstom SA (France)
• Wabtec Corporation (US)
• Cisco Systems (US)
• Cubic Corporation (US)
• Siemens AG (Germany)
• Hitachi Ltd. (Japan)
• Huawei Technologies Co.
• (China)
• Mitsubishi Electric Corporation (Japan)
• Televic (Belgium)

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The dynamic competition among technology providers fosters a continuous push for advancements, driving the evolution of more sophisticated and cost-effective solutions. In this competitive environment, companies strive to outpace each other in introducing cutting-edge features, improving system interoperability, and enhancing overall performance. The race to meet and exceed market demands encourages rapidly integrating emerging technologies into passenger information systems, such as artificial intelligence, IoT, and data analytics. As vendors vie for market share, customers benefit from diverse options, leading to an accelerated pace of innovation and a broader range of choices. The competitive forces within the passenger information system market catalyze continuous improvement, ensuring that the sector remains at the forefront of technological advancements while fostering sustained market growth.

“Based on solution, display systems segment to hold the largest market size during the forecast period.”

The display system segment in the passenger information system market is poised to hold the largest market size throughout 2023-2028. This growth is fueled by a rising demand for visual information, advancements in display technology, and its widespread application across various transportation modes. Additionally, operators' focus on passenger experience and integration with other systems further set the segment's leading position.

“Services segment is expected to hold a higher growth rate during the forecast period.”

A key factor is the rising demand for managed services, where experts handle maintenance, updates, and security, allowing transportation authorities and companies to focus on their core operations while reducing upfront costs and complexity. Additionally, the growing complexity of PIS solutions featuring real-time data integration, multi-modal information delivery, and AI-powered analytics necessitates specialized expertise in areas like system integration, configuration, and data analysis. This creates a strong market for services such as consulting, maintenance, and support.

Furthermore, the increased focus on passenger experience drives the demand for personalized information and enhanced convenience. This fuels the need for services like passenger support, and data analysis to tailor information delivery to individual needs. The shift towards subscription-based models for PIS solutions also favors the services segment, generating recurring revenue streams for providers and enabling continuous improvement and innovation, further attracting customers.

Finally, the integration of emerging technologies like IoT, big data, and AI requires specialized expertise for implementation and maintenance. Service providers offer these capabilities, making them valuable partners for PIS deployments. In a competitive market, offering comprehensive services alongside solutions becomes crucial for differentiation. Services like consulting, maintenance, and support enable providers to go beyond simply selling products and create lasting partnerships with clients.

“Asia Pacific is expected to hold a higher growth rate during the forecast period.”

Asia-Pacific anticipates a brighter future, dominating the overall market expansion from 2023 to 2028. This is driven by a convergence of factors that includes rapid infrastructure development creating demand for advanced PIS solutions, technological advancements like AI and IoT unlocking personalized information and predictive maintenance, government initiatives promoting smart cities and intelligent transportation systems, rising urbanization necessitating efficient public transport solutions, and increasing disposable incomes fueling demand for personalized and convenient travel experiences. This is evident in initiatives such as India's Smart Cities Mission and China's investments in high-speed rail and smart airports. However, growth might vary within Asia Pacific, with developed economies taking the lead, and challenges like data privacy and cybersecurity needing to be addressed.

Market Players

The major vendors covered in the passenger information system market are Advantech Co., Ltd. (Taiwan), Alstom SA (France), Wabtec Corporation (US), Cisco Systems (US), Cubic Corporation (US), Siemens AG (Germany), Hitachi Ltd. (Japan), Huawei Technologies Co., Ltd. (China), Mitsubishi Electric Corporation (Japan), Televic (Belgium), ST Engineering Ltd (Singapore), Indra (Spain), Medha Servo Drives (India), Efftronics Systems Pvt. Ltd. (India), Dysten (Poland), Lunetta (India), r2p Group (Germany), Icon Multimedia (Spain), Passio Technologies (US), Teleste (Finland), Lancom D.O.O (Slovenia), Simpleway (Czech Republic), Eke-Electronics (Finland), Quester Tangent (Canada), and LOT Group (Ukraine). 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 passenger information system market.

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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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Cybersecurity Insurance Market 2030: Key Companies, Trends, Growth And Regional Forecasts

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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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