5G Services Market Trends, Latest Research, Size, Business Analysis To 2028

The global 5G Services Market size is estimated at USD 98.3 billion in 2023 to USD 427.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 34.2%, 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 many connected devices with varying communication needs.

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5G Services Market Dynamics:

Drivers:

1. Increase in mobile network data traffic.
2. Need to transform mobile broadband experience
3. Accelerated digital transformation across verticals

Restraints:

1. High deployment costs.

Opportunities:

1. Global proliferation of Fixed Wireless Access (FWA).
2. Increase in demand for high reliability and low latency networks

Top Companies in 5G Services Market:

• AT&T (US)
• China Mobile (China)
• Verizon Communications (US)
• Deutsche Telekom AG (Germany)
• Vodafone Group (UK)
• SK Telecom (South Korea)
• BT Group (UK)

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“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.

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“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.

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. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Security Service Edge Market Size, Share, Application Analysis, Regional Outlook, Competitive Strategies & Forecast Up To 2030

The SSE market is expected to reach USD 2.8 billion by 2028 from USD 0.8 billion in 2023, at a CAGR of 25.4 % during 2023–2028. The adoption of SSE has experienced a remarkable surge in recent years, driven by integration of a cloud access security broker (CASB) into an organization's security framework. This integration plays a pivotal role in addressing the challenges brought about by the widespread adoption of Software as a Service (SaaS) applications, often referred to as the "SaaS explosion." CASBs are purpose-built to provide organizations with the necessary tools to monitor, control, and secure data in the cloud. They offer visibility, data protection, and compliance enforcement for cloud-based applications, which is crucial in a landscape where data resides both on-premises and in the cloud.

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Security Service Edge Market Drivers:

• Rising need for unified network security architecture.
• Integration of a Cloud Access Security Broker (CASB).
• Zero Trust Access Driving Security Service Edge (SSE) Adoption.

Security Service Edge Market Restraints:

• Integration Complexity.
• Interoperability issues may arise during integration.

Security Service Edge Market Opportunities:

• Cost savings by combining multiple security and network access.
• By consolidating various security and networking tools into a single SSE platform.

Security Service Edge Market Challenges:

• Traffic Aggregation and User Experience.

By integrating CASBs with SSE or Secure Access Service Edge (SASE) solutions, organizations create a holistic security ecosystem. This comprehensive approach extends uniform security policies and controls across the entire network, encompassing remote work scenarios and cloud resources. CASBs excel in safeguarding data, offering features like data loss prevention (DLP), encryption, and threat detection. Moreover, they ensure compliance with industry regulations, enabling organizations to navigate complex data privacy and security requirements. CASBs also provide real-time visibility into cloud application usage, enabling proactive security measures based on user behavior and context. As the SaaS landscape continues to evolve, CASBs remain adaptable, accommodating new services and threats to maintain the security and compliance of organizations in the dynamic digital environment.

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The Cloud Access Security Broker (CASB) registers the second highest market size in the SSE market during the forecast period.

Cloud Access Security Brokers (CASBs) are vital security solutions that help organizations manage and safeguard their data as it traverses multiple SaaS applications and cloud environments, whether within their on-premises data centers or accessed by mobile workers. CASBs serve as intermediaries between an organization's security policies and the cloud resources, ensuring that authorized users can securely access and consume these resources while consistently enforcing security, governance, and compliance measures. There are two primary types of CASBs available: traditional CASBs and integrated CASBs.

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

The BFSI industry deals with sensitive financial data and customer information and demands rigorous security measures to safeguard against data breaches and cyber threats. In this context, financial institutions and insurance companies must implement robust SSE solutions encompassing secure access controls, encrypted communications, and continuous monitoring.

With the ever-increasing reliance on digital platforms for financial transactions and customer services, SSE ensures the protection of sensitive financial data and maintains compliance with stringent industry regulations. It enables secure online banking, safeguards against cyber threats such as fraud and data breaches and ensures the continuity of essential services. Moreover, SSE supports the secure remote access of financial professionals and the seamless integration of new fintech applications, bolstering the industry's agility and competitive edge. As cybersecurity remains a paramount concern in the BFSI sector, SSE provides a robust defense against evolving threats while facilitating the delivery of secure and efficient financial services to customers.

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

APAC countries are highly concerned about the increase in security spending due to the ever-growing threat landscape. The region comprises emerging economies, such as China, Japan, and India. With effective government regulations and technological advancements, SSE is witnessing high growth opportunities in this region. The Asia Pacific SSE 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, which necessitated rapid remote work adoption, prompted significant investments in security control systems to protect remote employees. While the pandemic played a pivotal role in driving the SSE market, a surge in highly sophisticated cyberattacks targeting critical infrastructure and government entities has further compelled organizations in the region to bolster their investments in SSE technologies.

Top Key Players:

The report profiles key players such as Netskope (US), ZScaler (US), Palo Alto Networks (US), Cisco (US), Broadcom (US), Forcepoint (US), Lookout (US), iBoss (US), Skyhigh Security (US), Cloudflare (US), Trend Micro (Japan), Akamai (US), Fortinet (US), Aruba Networks (US), Citrix (US), Cato Networks (Israel), Perimeter81 (Israel), Open Systems (Switzerland), Menlo Security (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. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

M2M Satellite Communication Market Growth Insight, Size, Share, Trends, Regional Forecast To 2030

The global M2M Satellite Communication Market size is estimated to grow from USD 15.5 billion in 2023 to USD 28.7 billion in 2028, at a CAGR of 13.1% during the forecast period, according to a new report by MarketsandMarkets™. The M2M satellite communication market revolves around the use of satellite networks to facilitate seamless communication between machines and devices globally. It enables remote connectivity across diverse industries, offering robust, reliable, and often real-time data transfer for applications in areas where traditional terrestrial networks may be limited or unavailable. This market segment continues to grow due to its ability to support IoT, remote monitoring, asset tracking, and other critical operations in challenging environments.

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M2M Satellite Communication Market Dynamics:

Drivers:

1. Escalating need for enriched data communication.
2. Surge in IoT proliferation
3. Growing demand for monitoring and remote management of connected devices

Restraints:

1. Limited bandwidth and latency issues.
2. Cost constraints hindering widespread adoption of M2M satellite communications

Opportunities:

1. Co-existence of satellite and terrestrial communications solutions.
2. Global connectivity in remote areas

List of Key Players in M2M Satellite Communication Market:

• Marlink (France)
• Viasat (US)
• Thales (France)
• ORBCOMM (US)
• Iridium Communications (US)
• Globalstar (US)
• Orange (France)
• EchoStar (US)
• Intelsat (US)
• Rogers Communications (Canada)

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By offering the services segment to account for higher CAGR during the forecast period.

The M2M satellite communication market offers a diverse array of services tailored to connect and manage devices across industries. Data services facilitate seamless information exchange between remote devices, enabling real-time monitoring and control. Voice services provide instant communication in areas with limited terrestrial networks, ensuring reliable voice connectivity. Satellite services, including telemetry and remote monitoring, leverage satellite networks for global coverage, enabling effective asset tracking and environmental monitoring. Security services address the need for robust data protection and secure communication, safeguarding sensitive information. Business services encompass consultancy, project management, and ongoing support, ensuring organizations derive maximum value from their M2M deployments.

By Technology, Satellite Constellation is expected to hold the largest market size for the year 2023.

Satellite constellations provide extensive coverage and enhance the reliability of communication services. M2M communication involves the exchange of data between devices or systems without human intervention, and satellite constellations contribute to this by ensuring global connectivity. One notable example is the deployment of Low Earth Orbit (LEO) satellite constellations, where multiple small satellites operate in synchronized orbits at relatively low altitudes. The interconnected nature of these constellations facilitates seamless communication between devices across various industries, including agriculture, transportation, and environmental monitoring.

The energy and utilities vertical is projected to grow at the highest CAGR during the forecast period.

With energy assets dispersed across remote and often challenging environments, M2M satellite communication offers a robust solution for real-time data transmission and control. Satellite communication technology allows for the seamless connectivity of devices such as sensors, smart meters, and monitoring equipment, enabling utilities to remotely manage and optimize their energy distribution networks. This is particularly crucial for power grid operations, where M2M solutions ensure continuous data flow, aiding in fault detection, grid stability management, and response to dynamic energy demands.

Europe is expected to hold the second-largest market size for the estimated year.

The M2M satellite communication market in Europe is characterized by the collaborative efforts of major countries such as Germany, France, Italy, Spain, and others. Germany, with its robust space industry, leads in secure satellite communications with programs like SPAINSAT NG, showcasing advancements in military capabilities. France, through initiatives like the Syracuse 4B military satellite and collaboration with India on satellite constellations, emphasizes innovation and international partnerships. Italy, with the COSMO-SkyMed constellation and SICRAL 3 secure communications system, plays a significant role in Earth observation and defense communication. Other European countries, including The Netherlands, Switzerland, and Sweden, contribute expertise in areas like Earth observation, precision engineering, and scientific research, enhancing the overall landscape of M2M satellite communication.

The major M2M satellite communication hardware, software and service providers include Marlink (France), Viasat (US), Thales (France), ORBCOMM (US), Iridium Communications (US), Globalstar (US), Orange (France), EchoStar (US), Intelsat (US), Rogers Communications (Canada), SES (Luxembourg), Gilat (Israel), Telia (Sweden), Kore Wireless (US), Honeywell (US), Qualcomm (US), Telesat (Canada), Wireless Logic (England), Outerlink Global Solutions (US), Nupoint Systems (Canada), Businesscom Networks (US), Semtech (US), Yahsat (UAE). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the M2M satellite communication 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. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Playout Automation & Channel-in-a-box Market Size, And Share Analysis By 2030

The global Playout Automation & Channel-in-a-box Market size is projected to grow from USD 2.9 billion in 2023 to USD 6.1 billion by 2028, at a compound annual growth rate (CAGR) of 15.8% during the forecast period, according to a new report by MarketsandMarkets™. 

The playout automation & channel-in-a-box market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing engagement in HD and UHD content consumption, increase in demand for OTT services and escalating demand for video content across various industries, and proliferation of live broadcasting at an accelerated pace is also responsible for driving the market’s growth.

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Playout Automation & Channel-in-a-box Market Dynamics:

Drivers:

1. Escalating demand for video content across various industries.
2. Businesses are compelled to enhance their digital presence through dynamic and engaging content

Restraints:

1. Issues pertaining to network connectivity and infrastructure.

Opportunities:

1. Surge in online education.
2. Revolutionizing the education, and learning landscape
3. Surge in E-Learning for the enhancement of the educational landscape.

List of Key Players in Playout Automation & Channel-in-a-box Market:

• Harmonic (US)
• Evertz (Canada)
• Pebble Beach Systems (UK)
• Imagine Communications (US)
• Avid Technology (US)
• Grass Valley (US)
• Brightcove (US)
• Cinegy (US)
• Pixel Power (UK)
• ENCO Systems (US)

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By solution, the playout scheduling and management segment to register for the largest market size during the forecast period.

By solutions, the playout scheduling and management segment is expected to register the largest market size during the forecast period. These solutions are designed to efficiently manage the scheduling of programs, advertisements, and other content, helping broadcasters maintain a cohesive and engaging on-air presence. In the competitive broadcasting landscape, where delivering high-quality content without disruptions is paramount, playout scheduling solutions contribute significantly to the overall success of a channel. Within the playout automation and channel-in-a-box market, these scheduling and management solutions often integrate with other elements of the broadcasting workflow, such as traffic management systems and media asset management platforms.

By services, support and maintenance services to register for the highest CAGR during the forecast period.

The support and maintenance segment of the playout automation & channel-in-a-box market is growing rapidly. Vendors in this market understand the critical nature of these systems and typically offer comprehensive maintenance packages to address both routine upkeep and emergency situations. Maintenance services encompass a spectrum of activities, ranging from software updates and hardware diagnostics to preventive maintenance checks. Regular software updates are vital to keeping playout systems current with evolving industry standards, and ensuring compatibility with new file formats, codecs, and broadcast protocols.

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

Asia Pacific is witnessing significant growth in the playout automation & channel-in-a-box market. Asia-Pacific emerges as a region characterized by rapid digitalization, diverse content consumption patterns, and a burgeoning broadcasting industry. Growth drivers include the expanding middle-class population, increasing internet penetration, and the rise of mobile devices as primary content consumption platforms. Asian broadcasters are investing in advanced playout automation solutions to meet the demands of a vast and diverse audience while optimizing operational efficiency.

Some major players in the playout automation & channel-in-a-box market include Harmonic (US), Evertz (Canada), Pebble Beach Systems (UK), Imagine Communications (US), Avid Technology (US), Grass Valley (US), Brightcove (US), Cinegy (US), Pixel Power (UK), ENCO Systems (US), BroadStream Solutions (US), PlayBox Technology (UK), Florical Systems (US), TSL Products (UK), Hardata (US), PlayBox Neo (Bulgaria), Hexaglobe (France), PlanetCast (India), Axel Technology (Italy), Aveco (Czech Republic), Anyware Video (France), Aplomb Technology (India), SI Media (Italy), Amagi (US), TVU Networks (US), Veset (Latvia), Evrideo (Israel), coralbay.tv (UK), Muvi (US), LTN Global Communications (US), and Zixi (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. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Cloud Services Brokerage Market Overview, Growth, Economics, Demand And Forecast Research Report 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. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

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Green Technology & Sustainability Market Share, Growth Prospects and Key Opportunities by 2030

The global Green Technology & Sustainability Market size is projected to grow from USD 28.6 billion in 2024 to USD 134.9 billion by 2030, at a CAGR of 29.5% during the forecast period, according to a new report by MarketsandMarkets™. Recognizing the pivotal role of individuals and green technology companies in shaping the intersection of sustainability and digital transformation is paramount. Informed choices, adoption of sustainable technologies, and support for sustainable implementation collectively pave the way for a greener, more sustainable future where innovation and environmental stewardship harmonize seamlessly.

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Green Technology & Sustainability Market Dynamics:

Drivers:

1. Growing environmental awareness and concerns.
2. Rise in government initiatives for low-carbon policies
3. Increasing consumer and industrial interests in clean energy resources to conserve environment
4. Surging demand for AI-driven recycling technologies to fuel green innovations and sustainability

Restraints:

1. High costs for deployment of green technology and sustainability solutions.
2. Lack of robust infrastructure

Opportunities:

1. Rise in initiatives to tackle climate change and air pollution.
2. Adoption of advanced technologies across industries
3. Transformation of IT and telecom infrastructure for low carbon emissions

List of Key Players in Green Technology & Sustainability Market:

• GE (US)
• IBM (US)
• Salesforce (US)
• Microsoft (US)
• Schneider Electric (France)
• Sensus (US)
• Wolters Kluwer (Netherlands)
• SAP (Germany)
• Siemens (Germany)

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Solution segment to account for the largest market size during the forecast period.

Based on the offering segment, the solution is anticipated to hold the largest market size during the forecast period. Businesses are adopting green technology & sustainability solutions to mitigate environmental impacts, comply with regulations, and adapt to changing market demands. The adoption of green technology is viewed as a proactive strategy that enables companies to gain a competitive advantage, improve their financial performance, and enhance their brand image. Green technology & sustainability solutions are generally more expensive than legacy solutions, but businesses are gradually embracing technological advancements to improve their operations and comply with green certification requirements and standards. By adopting green technology, businesses benefit from financial boosts, increased productivity, and tax benefits, among other advantages.

Managed service to account for higher CAGR during the forecast period.

Based on the services, managed services are anticipated to hold the highest CAGR during the forecast period. Managed services are significantly impacting the green technology & sustainability market by providing businesses with outsourced, expert management of their IT infrastructure and services. This approach allows organizations to focus on core competencies while benefiting from advanced technologies that enhance sustainability. Technologies such as cloud computing, IoT, and AI play a crucial role in optimizing energy consumption, improving resource efficiency, and enabling real-time monitoring of environmental metrics. Managed services providers leverage these technologies to implement sustainable practices, reduce carbon footprints, and enhance overall operational efficiency, contributing to the growth and integration of green technology across various industries.

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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. In the Asia Pacific region, the adoption of green technology & sustainability is on the rise, driven by several key factors. The stringent environmental regulations and policies are compelling businesses to integrate sustainable digital solutions into their operations. Additionally, there is a growing awareness among consumers about the environmental impact of products and services, prompting companies to embrace sustainable practices to meet consumer demands. Furthermore, the pursuit of cost savings through energy efficiency plays a pivotal role. Many organizations recognize the long-term financial benefits associated with green technologies, such as reduced energy consumption and lower operational costs. The potential for enhanced corporate reputation and stakeholder trust also serves as a significant driver, as businesses strive to position themselves as socially responsible entities.

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

3D Modeling Market Size, Unveiling The Potential Scope For 2023-2030

The global 3D Modeling Market size is projected to grow from USD 5.4 billion in 2023 to USD 11.8 billion by 2028, at a compound annual growth rate (CAGR) of 17.2% during the forecast period, according to a new report by MarketsandMarkets™. The 3D mapping and modeling market is expected to grow significantly during the forecast period, owing to various business drivers like the rising adoption of big data and other related technologies to leverage real-time data processing and the growing demand for cloud-based analytics solutions for better accessibility and cost-effectiveness.

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3D Modeling Market Dynamics:

Drivers:

1. Growing demand for 3D animation in mobile applications, gaming, and videography.
2. Technological advancements in 3D scanners, sensors, and other acquisition devices
3. Widespread availability of 3D content
4. Advent of 3D-enabled display devices

Restraints:

1. Increase in corruption and piracy concerns.
2. High technological and installation costs

Opportunities:

1. Emergence of AI and ML technologies.
2. Rising popularity of AR and VR technologies across key industries
3. Integration of 3D mapping and modeling solutions with sensors and IoT devices to collect real-time data

List of Key Players in 3D Modeling Market:

• Google (US)
• Autodesk (US)
• Trimble (US)
• Bentley Systems (US)
• Dassault Systemes (France)
• Adobe (US)
• Hexagon (Sweden)
• Esri (US)
• Golden Software (US)
• Maxon (Germany)
• Topcon (Japan)
• CyberCity 3D (US)
• Pix4D (Switzerland)
• Apple (US)
• Onionlab (Spain)

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

The services segment of the 3D mapping and modeling market is growing rapidly. The managed services are vital in properly functioning 3D mapping and modeling solutions. 3D mapping and modeling vendors require technical support and consulting services to deploy their solutions quickly and smoothly in the market. Managed services play a crucial role in the 3D mapping and modeling market as they offer specialized services and support to organizations requiring 3D mapping and modeling solutions. Their role encompasses various aspects that help businesses leverage the full potential of these technologies effectively.

By technology, LiDAR to register for the highest market size during the forecast period

LiDAR technology's remarkable capabilities in 3D mapping and modeling have transformed various industries, propelling the market's rapid growth. The combination of improved resolution, reduced costs, and integration with AI has driven widespread adoption, expanding applications in areas such as urban planning, environmental management, and autonomous technologies.

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

Asia Pacific is witnessing significant technological innovation in 3D mapping and modeling. Several Asian countries, such as Japan, China, and India, are leveraging information-intensive technologies, and 3D mapping and modeling is one of the leading technology trends. With new growth opportunities declining in conventional, strong markets such as North America and Europe, several vendors are interested in Asia Pacific. China, Japan, and India are technology-driven countries and present major opportunities in terms of investments and revenues.

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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