The global virtual events market size is estimated to reach USD 404.45 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 23.2% from 2020 to 2027. Increasing number of business events, along with growing adoption of virtual infrastructure, tools, and services by enterprises for business meetings worldwide, is expected to fuel the growth of the market over the forecast period.
The new generation of Artificial Intelligence (AI)-enabled communication and collaboration solutions brings people together and allows more focused interactions between event participants irrespective of their location. Besides, the integration of AI with business communication platforms, such as Unified Communications (UC), improves employee productivity, saves time, and improves overall business flow. The innovation in Natural Language Processing (NLP) and computer vision to support the virtual environment is expected to impact the market growth positively. For instance, NLP facilitates the automated recordings of meetings, sharing documents, and even the translation of the conversations into different languages. Moreover, computer vision captures meeting participants and then mechanically alters the zoom feature to provide a better video experience for individuals on the far end.
The healthcare industry is increasingly adopting the virtual platform for remote patient monitoring. For instance, in March 2020, Cisco Systems Inc. declared that 17,000 healthcare organizations across 118 countries deployed the Cisco Webex platform for providing telehealth services. The COVID-19 pandemic and imposed lockdown have resulted in wider adoption of digitally simulated events solutions by end-use industries.
Platform providers and event management firms are continuously investing in technological research & development for bringing innovations in the market to cater to the growing requirements of the corporates and organizations
The sales and marketing and training service segments are likely to witness significant growth over the forecast period owing to the rapidly changing competitive landscape and growing need for business process training and promoting and launching product and solutions portfolio
Asia Pacific is expected to witness a significant surge in the adoption of virtual events, primarily due to growing number of Small and Medium-sized Enterprises (SMEs) in the region.
The global digital video advertising market size is anticipated to reach USD 292.4 billion by 2027, exhibiting a CAGR of 41.1% over the forecast period, according to a new report by Grand View Research, Inc. The fusion of big data analytics with advertising offers promising growth prospects to the market due to the generation of vast volumes of user data. The vast amount of data has enabled marketers to carefully analyze user data and showcase specially curated advertisements according to the viewing trends of audiences. Additionally, the integration of analytics tools in advertisement platforms enables advertisers to analyze the effectiveness of advertising campaigns and thus make relevant changes as and when required.
Blockchain technology is expected to offer exciting growth prospects to advertisers in the future. Blockchain, being a secure distributed ledger, provides the ability to safely track audiences, path, budget spend, and conversion rates to network participants only. A buyer can buy an impression, which is verified by the publisher, and only then can it be added to the ledger. The implementation of blockchain technology enables everyone in the chain to see impression events, validate, and approve the changes made by individuals to create a more transparent marketplace.
Further, the fusion of cloud computing technology with digital video advertising provides promising growth to the sector, owing to the former’s enhanced ability to distribute dynamic and interactive advertisements to brands and marketers efficiently. An ad-based cloud platform helps brands and marketers to optimize spend across several channels. Cloud-based supply-side platforms enable advertising agencies to efficiently produce and offer various video advertisements to its clients, based on their needs and requirements. Furthermore, cloud-based platforms are also expected to facilitate the creation of personalized ads via an original optimization product.
The induction of Augmented Reality (AR) technology in digital marketing techniques offer promising growth prospects to the digital video ad market, owing to the ability of the technology to provide better inter-personal experience to viewers. The immersive nature of technology enables marketers to create deeper connections with audiences to portray a better brand image, which is essential in driving sales. Additionally, deploying AR-enabled advertisements offers more cost-effective options to brands and agencies as compared to traditional print media corporations. AR technology-based advertisements can offer marker-based and location-based advertisements, which further allow companies to practice hyperlocal advertising methods and consequently boost sales outcomes.
The mobile segment is envisioned to witness the highest CACR over the forecast period due to the incrementing penetration of smartphones and its ability to play video ads in several formats
The retail segment is expected to capture the significant CAGR over the forecast period owing to the rising trend in the usage of internet-based buying platforms by individuals
Asia Pacific is expected to emerge as the fastest-growing regional digital video ad market due to the availability of low-cost internet plans and rising usage of subscription-free media streaming platforms.
The global insurtech market size is expected to reach USD 16.8 billion by 2025, registering a CAGR of 43.0% from 2019 to 2025, according to a new report by Grand View Research, Inc. Increasing use of artificial intelligence (AI) along with Big Data by insurance companies to enhance customer targeting and to automate the decision-making processes is expected to drive the market over the forecast period. Additionally, integration of wearable devices into customer engagement metrics for insurance is further anticipated to keep the market growth prospects upbeat.
Insurance companies are heavily investing in digitizing their business processes, which will help them to simplify the transaction process and to improve the functionality of payment systems. The adoption of insurtech allow insurance companies to detect errors, prevent frauds, and access external data. Furthermore, technologies such as embedded analytics help insurance companies to understand market pattern, consumer behavior, and allow them to make informed business-related decisions. These benefits of digital technologies are creating a significant demand for the technology.
Rising demand for implementation of automation, improved communication between agents and clients, and better personalized offerings are expected to drive the market over the forecast period. The adoption of insurtech in various businesses has allowed insurance companies to minimize the risks associated with liquidity, operation, and counterparty credit. Additionally, increasing adoption of predictive analytics to identify risk of fraud, triaging claims, and to identify outlier claims is anticipated to propel market growth.
The home segment is anticipated to exhibit the highest CAGR of 44.3% from 2019 to 2025. Home insurtech allow customers to easily process their claims for property monitoring or assistance in repairs
The managed services segment dominated the market in 2018 owing to the growing dependence of insurance companies on IT assets to improve their productivity
The blockchain segment is expected to witness the highest CAGR of 44.9% over the forecast period. The adoption of blockchain in insurtech helps in increasing transparency, operational speed, and minimizing the associated delays and costs
The healthcare segment is expected to emerge as the fastest-growing end-use segment over the next six years. Insurtech in healthcare provide customers with custom insurance along with easy claim process
The North America region is expected to continue to dominate the market over the forecast period. Increased adoption of advanced technologies such as machine learning, artificial intelligence, and blockchain by insurance companies in the region is contributing remarkably to the growth of the market
The key players in the insurtech market include DXC Technology Company; Damco Group; Majesco; Oscar Insurance; Wipro Limited; Trōv, Inc.; Quantemplate; Shift Technology; and Zhongan Insurance.
The global public safety and security market size is expected to reach USD 812.6 billion by 2025, expanding at a CAGR of 14.8% from 2019 to 2025, according to a new report by Grand View Research, Inc. The rapid modernization of public safety regulations and policies across the globe is anticipated to drive the market growth over the forecast period. These solutions have provided users with effective measures to ensure the safety of organizations, individuals, and critical infrastructure against multiple threats such as illegal immigration, terrorist attacks, and illegal drugs and arms trafficking. Furthermore, the rapidly increasing number of natural and man-made disasters is also expected to play a pivotal role in driving the demand for these solutions worldwide.
Over the past few years, an increasing collaboration among countries has been witnessed regarding the measures taken for public safety. Countries are hence focusing on establishing regional cooperation in the area of cross-border disaster management to address key issues by deploying emergency management systems, critical communication network infrastructure, and geospatial data collection and analysis tools, among others. Furthermore, developed as well as emerging economies around the world have realized the importance of public safety and security solutions in emergency and crisis management. Governments are now developing regulations and standards to improve surveillance and enhance public safety. Surveillance systems are particularly effective for transit agencies to monitor their systems remotely, while critical communication network enables secure communication between various units, which is crucial for crisis management.
Due to rapid digital transformation of global financial and banking systems, there has been a constant focus on deployment of digital security measures to deal with the increasing number of cyber-attacks. The increasing awareness regarding security systems, replacement of obsolete systems and technologies, and rise in hazardous industrial operations are also some of the major factors expected to drive the demand for these systems. Hence, to comply with the growing demand, there has been a significant increase in financial allocation by countries for upgrading and modernizing the existing information technology infrastructure and the setting-up of dedicated departments to deal with the emerging cyber threats. However, the high system acquisition and deployment costs and lack of interoperability between legacy and emerging security systems is hindering the growth of the public safety and security market.
Managed services is anticipated to emerge as the fastest-growing service segment over the forecast period owing to the increasing deployment of public safety and security solutions as part of smart city initiatives
The emergency & disaster management segment is expected to gain traction over the forecast period owing to the increasing need for these solutions for better management of natural calamities and emergency situations worldwide
The logistics & transportation systems segment is expected to register the highest CAGR over the forecast period due to the increasing focus of governments on the development of road and rail infrastructure projects
The Asia Pacific regional market is expected to grow at the highest CAGR from 2019 to 2025 owing to the increased spending on these solutions to improve public safety, particularly in emerging economies such as India and China
Key players operating in the market include Atos; ESRI; NEC Corporation; SAP SE; Cisco Systems, Inc.; Genetec; Harris Corporation; General Dynamics; Ericsson; and Huawei Technologies Co., Ltd.
The global smart ticketing market size is expected to reach USD 33.7 billion by 2026, registering a CAGR of 14.9% from 2019 to 2026, according to a new report by Grand View Research, Inc. Increase in demand for smart ticketing solutions in the travel and tourism industry owing to its ease of use and convenience, and growing reliance on online transactions are expected to drive the market over the forecast period. In addition, upsurge in intelligent transportation systems across the globe is further fueling the market growth.
Smart transit systems allow passengers affordable access to rapid transit systems, also known as metro or subway. These systems store a ticket electronically on a microchip, which is embedded onto a smart card. This allows passengers to load or credit it in advance for their travel, reducing the time spent in queues and speeding up the boarding process. Public transportation authorities across the globe are emphasizing on implementing these systems to reduce traffic in congested city areas and to deliver solutions that are environment-friendly. Numerous public transportation agencies are promoting the use of these solutions as they are easy to use, reliable, and more secure as compared to traditional magnetic stripe cards or tickets. These solutions are also highly durable and have a longer life span than their traditional paper counterparts.
Continuous innovations take place in this field with the view to improving customer experience. For instance, the South Western Rail in U.K. launched Tap2Go, which removes the need for customers to buy a ticket before their journey. Passengers touch their card at the gates and validators at the start and end of their journey. The system then calculates the best fare and the payment is deducted from their account the day after their travel. It is also linked to PayPal to make transactions easier.
These solutions offer high operational efficiency and increased security against fraud, which, in turn, is expected to contribute to the market growth over the forecast period. Moreover, these solutions require low maintenance compared to systems that use magnetic stripe technology. Furthermore, these smart solutions allow quick payment transactions and offer passengers with flexible travel options such as part-time season passes or carnets. This is subsequently expected to drive the demand for these solutions over the forecast period.
The software component segment is expected to witness significant growth over the forecast period owing to increased demand for payment gateways and other connected systems such as cards through servers and smartphones
An e-ticket offers various advantages such as flexibility, security, and convenience for both transport agencies and travelers, which would encourage them to adopt these solutions
Smart card systems enable transport service providers to reduce cash flows and implement flexible tariffs. These systems provide the added benefit of convenience as the fare payment can easily be made at the customer’s point of entry into the transit system; for example, at the subway gate or before boarding a bus. As a result, smart card systems are widely adopted by transport service providers across the globe
The sports and entertainment segment is expected to register the highest growth rate over the forecast period. Increase in adoption of verified e-tickets procured from authentic apps on mobile devices helps lessen fraudulent activities and resale of tickets online or outside an event venue at inflated prices
The growth of the Europe market is attributed to the thriving tourism industry, continuous innovations of these systems and their adoption in urban areas, and simplified technology ecosystem in the region. In U.K. for instance, the National Rail has incorporated a range of technologies such as platform and ticket validators at their train stations that enable the use of these systems
smart ticketing market key players include CPI Card Group Inc.; Cubic Corporation; Confidex Ltd.; Gemalto NV; Giesecke & Devrient GmbH; Infineon Technologies AG; and NXP Semiconductors.
The global smart antenna market size is expected to reach USD 8.95 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 8.2% during the forecast period. Soaring need for upgraded technologies and high-quality communication through wireless devices is triggering the adoption of smart antennas. Smart antenna is used in various applications such as Wi-Fi systems, WiMAX systems, cellular systems, and RADAR systems. Benefits such as error-free communication, customized data paths, easy flow of data, and prevention of co-channel interference are anticipated to propel market.
High manufacturing and maintenance costs are hampering the growth prospects of the market. Strong wireless connectivity in region such as North America has facilitated the widespread adoption of smart antennas. Some of the prominent smart antenna vendors are Airgain Inc.; Broadcom Limited; Intel Corporation; Motorola Solutions, Inc.; Qualcomm Technologies, Inc.; Telstra; and Texas Instruments Inc.
The global smart antenna market is expected to expand at a CAGR of 8.2% over the forecast period.
The MIMO segment is estimated to dominate the market throughout the forecast period, representing more than 55.0% of the overall revenue by 2025. The growth of the segment can be attributed to increasing usage of wireless and smart devices
The cellular systems segment is anticipated to lead the market throughout the forecast period, exhibiting a CAGR of 5.6%
North America will continue to be the most prominent regional market owing to early adoption of the technology and presence of leading market players
Prominent players in the market include Airgain Inc.; Broadcom Limited; Intel Corporation; Motorola Solutions, Inc.; Qualcomm Technologies, Inc.; Telstra; and Texas Instruments Inc.
The global automotive infotainment market size is expected to reach USD 37.62 billion by 2025, according to a new study by Grand View Research, Inc. The increasing adoption of smartphones is anticipated to have a significant impact on the automotive entertainment industry, as they are the most prominently used connectivity gateways of an infotainment system.
The demand for enhanced driving experience is also predicted to drive the automotive entertainment systems industry over the forecast period. The increased focus on driver comfort and convenience has led to the development of various automotive infotainment systems, which offer innovative features such as voice control, Bluetooth connectivity, real-time traffic updates, and navigation information. These features provide comprehensive vehicle information to the driver and thereby, enhance safety and driving experience. However, these systems involve high costs of integration and are primarily integrated in premium and luxury vehicles. Inadequate infotainment security and privacy are predicted to hinder the growth of the automotive infotainment systems market.
The use of infotainment systems in commercial vehicles is mainly driven by the widespread adoption of navigation units. The implementation of navigation and communication units in a commercial vehicle has increased operational efficiency and enabled a reduction in response time during emergency situations. As commercial vehicles have high travel time, compared to passenger cars, improving safety and driver experience is very essential.
The communication unit dominated the product segment and was valued at USD 3.9 billion in 2016
The head-up display segment is expected to be the fastest-growing segment with an anticipated CAGR of 13.5% over the forecast period
The key success factor for various participants to gain traction in the automotive infotainment systems market is building cost-effective and driver-centric automotive infotainment systems
Automotive infotainment aftermarket products are cost-effective, as compared to OE fitted, and are much preferred by price sensitive consumers
The passenger car segment is expected to grow at the highest CAGR of 11.4% over the forecast period, owing to the growing trend of low-cost passenger cars
The Asia Pacific region is predicted to witness a CAGR of 11.3% during the forecast period, owing to the presence of prominent OEMs such as Hyundai Motor Company and Toyota Motor Corporation
The key participants of the industry include Continental AG, Harman International, Panasonic Corporation, Alpine Electronics, Inc., Denso Corporation, Pioneer Corporation, Visteon Corporation, Clarion Co., Ltd., Delphi Automotive PLC, and JVC KENWOOD Corporation
The global advanced analytics market size is expected to reach USD 59.1 billion by 2027, registering a CAGR of 25.3% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The extensive usage of advanced analytics in database management tools is expected to be a key factor influencing market growth. Furthermore, in agriculture, the farmers are exploring the use of advanced analytical solutions to gain more insights into when to plant, how to optimize crop yields, and when to harvest. Besides, the growth of the IT sector in emerging economies such as Argentina, Brazil, Egypt, and Philippines has led to the rising demand for workflow optimization, which is anticipated to further fuel the need for advanced analytical solutions.
Industries, including automotive, manufacturing, and pharmaceuticals, are heavily investing in the adoption of artificial intelligence for their process optimization. The use of big data analytics in process optimization enable manufacturers improve production process, increase supply chain efficiency, and identify variables affecting the production quality that bodes well for market growth. The growth of the market is driven by the increasing demand for predictive solutions and the availability of advanced analytical solutions over the cloud. For instance, Angoss Software Corporation; IBM Corporation; and SAS Institute, Inc.; offer their advanced analytics software over the cloud.
Technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) are data immersive technologies and require high bandwidth for operations, resulting into generation of large amounts of data. Owing to the generation of huge unstructured data, advanced analytics is used to categorize, process, and display it into meaningful insights. Therefore, the rising usage of AR in industries and sectors, including healthcare, agriculture, and entertainment, is anticipated to drive the growth of the advanced analytics market. The extensive use of advanced analytical solutions in the protection and processing of the enormous amounts of data stored using cloud services such as Microsoft OneDrive and Google Drive is further anticipated to boost market growth. Data warehousing organizations harvest information from datasets that help users make better decisions, thereby exploiting the ability of advanced analytics in handling complex relational databases. These factors are anticipated to provide lucrative opportunities to the players operating in the market.
The risk analytics segment is projected to witness a high CAGR over the forecast period on account of surge in data security breaches in sectors such as BFSI and IT and telecom
As most of the business data such as customer data, procurement data, and transactions is stored on the cloud, companies are leveraging the benefits of cloud-based analytics, which bodes well for the growth of the cloud segment
Among the Small and Medium Enterprises (SMEs), the popularity of Software-as-a-Service (SaaS)-based advanced analytical solutions owing to lower cost has grown significantly. This is anticipated to boost the growth of the SMEs segment over the forecast period
The increasing amount of data generated owing to the deployment of mobile communication technologies such as 3G and Long-Term Evolution (LTE) is driving the demand for advanced analytical solutions to evaluate and predict cell congestion. This bodes well for the growth of the IT and telecom segment
Asia Pacific is expected to exhibit the highest CAGR over the forecast period. The rapid development of the telecom industry in the region, where telecom operators extensively use analytical solutions for network resource optimization is a key driving factor
Key players operating in the market include IBM Corporation; Fair Isaac Corporation; Altair Engineering, Inc.; SAS Institute Inc.; Microsoft Corporation; KNIME; RapidMiner, Inc.; Oracle Corporation; SAP SE; and Trianz.
The global hydroponics market size is estimated to reach USD 5.68 billion by 2025, exhibiting a CAGR of 22.52% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The adoption of smart farming technologies, such as vertical farming, which has helped the evolution of hydroponics, is expected to spur the market growth. Continuous improvements in hydroponics technologies and the introduction of innovative, state-of-the-art technologies, including environmental and temperature sensing, remote growth monitoring, and automatic nutrient reading, is likely to fuel the demand.
Food production method in hydroponic plant system. Growing lettuce in greenhouse using mineral salt solution.
Based on type, the hydroponics market is segregated into aggregate systems and liquid systems. The aggregate systems segment is projected to continue holding the largest market share over the forecast period. The liquid systems segment is expected to expand at a high CAGR over the forecast period. Aggregate hydroponics farming encompassed multiple technologies, namely, drip, wick, and ebb and flow. Herein, the plants are grown with the presence of a medium such as rock wool, perlite, and others. It is essential for the farmers to choose the right kind of media for certain crops, as they vary in terms of pH and thickness, which may hinder the smooth growth of roots. However, the liquid systems eliminate the use of such media and provide the nutrients directly to the roots, reducing the time required for yield. Hence, the adoption of liquid systems, such as deep-water culture and Nutrient Film Technique (NFT) is expected to witness significant growth over the forecast period.
The primary crops cultivated through the hydroponics method are tomatoes, lettuce, cucumber, and herbs. The majority of indoor farmers use hydroponic systems to grow tomatoes. As a result, the tomatoes segment dominates the entire market in 2018 and is estimated to continue its dominance over the forecast period. Europe held the largest share of the hydroponically grown tomatoes market in 2018 owing to the high cultivation rate in the Netherlands and Italy. Rising demand for organically grown, pesticide-free, and highly nutritious vegetables is expected to drive the adoption of hydroponics for the cultivation of lettuce and other leafy vegetables along with other indoor farming techniques. Among all the leafy vegetables, green leaf lettuce is increasingly gaining popularity among the growers owing to its high consumption rate and worldwide demand. However, owing to the changing and favorable regulations pertaining to the growth of legalized marijuana, the cannabis farmers across the globe are increasingly adopting the hydroponic farming method.
The Asia Pacific held the largest market share in 2018, as countries such as China, South Korea, and Japan are finding lucrative opportunities in hydroponics farming to cater to the rising food demand. However, Europe is expected to register the fastest CAGR over the forecast period owing to the favorable government scenario regarding the development and adoption of alternative farming technologies.
AeroFarms (U.S.); AMHYDRO (U.S.); Argus Control Systems Limited (Canada); Emirates Hydroponics Farms (UAE); Freight Farms (U.S.); Green Sense Farms Holdings, Inc. (U.S.); Heliospectra AB (Sweden); LumiGrow (U.S.); Signify Holding (the Netherlands); and Terra Tech Corp (U.S.) are some of the eminent providers and vendors of hydroponic equipment and solutions. These companies, along with other local or global market players, continually emphasize geographic expansion and product development. They have realized the lucrative opportunities in the urban regions of developed countries, such as the U.S., China, the U.K., and Japan.
Middle East, South America, and the Asia Pacific are anticipated to witness a lukewarm rise in terms of adoption of hydroponics, on account of lack of government incentives to set up the infrastructure
Increasing demand for cannabis for medical and recreational uses is expected to boost the adoption among indoor farmers from Canada, Georgia, South Africa, and other such countries
NFT in the liquid hydroponic systems is one of the highly adopted methods used by indoor farmers. However, state-of-the-art NFT technique is gaining more popularity amongst the growers
The Asia Pacific held the largest market share in 2018 owing to the substantial demand from countries, such as South Korea, China, India, and Hong Kong
European regional segment is likely to emerge as the prominent segment, holding the largest market share by 2025. The countries such as the Netherlands, Turkey, and Spain witness a high adoption rate of hydroponics
Mexico is projected to portray lucrative opportunities in near future, owing to the presence of market players, such as Hydroponic Systems, Cultura H, and General Hydroponics. Also, the drylands spread over 100 million hectares in the country restrict the agricultural expansion, driving the adoption of hydroponics and other vertical farming technologies
The endpoint security market size is expected to reach USD 27.05 billion by 2024, according to a new report by Grand View Research, Inc. The endpoint security market is expected to witness a substantial growth over the forecast period, due to the increasing deployment of various security solutions with rising security risks across several applications including BFSI, IT & telecom, and retail.
The rising number of enterprise endpoints and mobile devices having access to critical enterprise data have created a huge demand for endpoint security solutions in the market, which is anticipated to drive the market.
Moreover, emerging trend of virtualization is projected to affect endpoint security. Virtualization separates physical systems into several virtual machines, which will require similar endpoint protection as physical servers. Hence, escalating the demand for more efficient and comprehensive solutions over the forecast period.
Several companies in the industry are spending on different technologies to improve capabilities, secure internet protocols, test software and analyze vulnerabilities. The evolution of cloud storage has increased the adoption of cloud-based security services; the as significant amount of data is stored in one place. This has led to increased threat of data breaches and enforcement of various regulations to curb the risk of placing the data on the cloud.
The mobile device security segment witnessed revenue share of over 17% in 2015, which is anticipated to grow at a CAGR of nearly 16% over the forecast period. The increasing adoption of BYOD trend have led the employees in organizations to access corporate data on their personal mobile devices. However, it creates security challenges, which requires advanced endpoint security solutions to safeguard sensitive business information resulting in high demand.
Enterprises dominated the market in 2015, and is estimated to grow at a CAGR of over 13% from 2016 to 2024. SMBs are also anticipated to witness substantial growth over the forecast period due to the rising adoption such safety solutions to prevent crucial information. Organizations of all sizes are transitioning their business-critical operations and workloads to cloud computing to decrease the burden on their IT support staff, reduce costs and provide advanced services. The increasing adoption of cloud technology have led security vendors to develop cloud-based security solutions on a large scale.
IT & Telecom industry dominated the market with the revenue share of nearly 25% in 2015 and is anticipated to witness significant growth over the next eight years. The industry has evolved through significant expansion phase and have stringent legal and information security requirements. Further, rising acceptance of BYOD trend is anticipated to drive the industry demand.
Moreover, the BFSI sector offers substantial potential for the market as it is continuously visualizing the regional; instability, terrorism, physical risks, criminal networks and modern threats originating from cyber sabotage and opaque sources. The rising regulation in the finance sector is further contributing towards the industry growth.
The North America is estimated to dominate the market with a share of over 32% in 2015 growing at a CAGR of nearly 11% over the next eight years. Asia Pacific regional market accounted for over 19.0% of the global market share in 2015 and is expected to grow with a CAGR of 13.2% over the next eight years. Stringent regulations across Asia Pacific are expected to fuel the demand for efficient endpoint security solutions driving the demand in this region. Countries including China, India, Malaysia and Australia are investing heavily in endpoint security to fight against cyber threats and attacks.
The key industry participants include Microsoft Corporation, Kaspersky Labs, Panda Security SL, Symantec Corporation, Sophos Ltd, Cisco, Bitdefender, ESET, IBM Corporation, F-Secure, Intel Security Inc. (McAfee) and Trend Micro Incorporated. The vendors involve in frequent merger & acquisitions to increase their geographical presence and product portfolio to gain competitive advantage.
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