Tag: Big Data

Digital Experience Platform Market Size Worth $15.80 Billion By 2025

The global digital experience platform market size is projected to reach USD 15.80 billion by 2025, expanding at a CAGR of 10.9% from 2019 to 2025, based on a new study conducted by Grand View Research, Inc. The growing inclination of companies for developing customer centric strategies to deliver superior customer interaction is expected to drive the growth. Furthermore, the adoption of digital platforms by large Multi-national Companies (MNCs) and Small and Medium Enterprises (SMEs) as the primary channel for customer service and engagement is also anticipated to propel the adoption Digital Experience Platforms (DXPs).

The digital experience platform enables companies to design and deliver personalized user experience across multiple channels, touchpoints, and devices throughout the customer interaction and engagement process. DXP can be a single offering, however, in most of the cases, it usually consists of integrated set of technologies such as digital Content Management System (CMS), Web Experience Management (WEM), and related services. The capability of the DXPs to provide an architecture for companies to deliver connected customer experiences, digitize business operations, and gather actionable customer insight is expected to drive its adoption over the forecast period.

Due to the confluence of factors, such as digital transformation and disruption, many companies are now radically reengineering their business practices to be extremely customer oriented. Hence, the companies focus on digital experience platforms due to their omnichannel orchestrations and superior content customization and management capability. They leverage these capabilities to provide an integrated multi-channel experience spanning across applications, portals, websites, and devices. Due to the growing demand for DXPs across multiple end-use industries, the key solution providers in the digital experience platform market are aggressively focusing on acquisitions and new product development to establish a strong presence in the fragmented market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/digital-experience-platform-market

Further key findings from the study suggest:

  • Platform segment dominated the digital experience platform (DXP) market in 2018 and is also anticipated to emerge as the fastest-growing segment over the forecast period owing to increasing adoption of the component by organizations to deliver superior customer interaction and engagement
  • The cloud segment is expected to gain traction over the forecast period owing to the growing preference for cloud based DXPs due to the rapid deployment capability and reduced investments in physical infrastructure
  • Business-to-Consumer (B2C) application is anticipated to witness the fastest CAGR over the forecast period due to the increasing demand for content personalization to enable superior customer engagement
  • The retail segment is anticipated to witness significant growth over the next six years owing to the rapid growth of online B2C and B2B e-tailers and the increased focus on omnichannel marketing
  • Asia Pacific is expected to expand at the fastest CAGR from 2019 to 2025 owing to the growing consumer preference coupled with high adoption of web and mobile shopping applications in developing countries such as India and China
  • Key players operating in the market include Acquia Inc.; Adobe; CoreMedia AG; Episerver; IBM Corporation; Liferay Inc.; Oracle Corporation; Microsoft Corporation; SAP SE; Open Text Corporation; Salesforce.com, Inc.; and Sitecore among others

TIC Market Size Worth $404.7 Billion By 2025

The global testing, inspection, and certification market size is expected to reach USD 404.7 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 5.2% from 2019 to 2025. Testing, inspection, and certification (TIC) services are being adopted rapidly due to the strict implementation of testing, inspection, and certification regulations. The market incumbents cater to various range of industries and sectors across the globe with a variety of legislation and standards.

Owing to the increasing presence of international players in growing economies, such as India and China, governments are taking the help of these industry participants for regulating the quality of various products and services through third-party inspection services. Furthermore, with the gradual development of these economies, issues concerning food safety standards and environmental protection are anticipated to emerge over the forecast period. Consumer concerns related to health and safety issues arising from the use of consumer electronics, as well as the quality of consumer goods, has necessitated governments to regulate the quality of the products manufactured domestically.

Also, an upsurge in the volume of traded goods has a direct impact on the number of certifications and inspecting services. With globalization, supply chains are increasingly becoming more complex. Increasing end-user quality expectations and outsourcing have led to a rise in the demand for independent TIC services. Organizations are aiming to ensure that processes, infrastructures, and products meet the required regulations and standards in terms of social responsibility, environmental protection, health and safety, and quality, thus reducing the risk of accidents and failure. This includes services such as the inspection and testing of bulk carriers that might be carrying different types of commodities, such as livestock, grains, or petroleum.

The Asia Pacific regional TIC market is expected to witness steady growth over the forecast period, owing to the growing economic and regulatory factors. The governments of several countries in the region are promoting various development plans in multiple application areas such as manufacturing, infrastructure, automotive, agriculture, and food. Also, the role of TIC is expected to change with the emergence of digital technologies such as connected devices, connected vehicles, mobile payments, and artificial intelligence. With the penetration of such technologies in this region, the inspection and testing of software and software-based service would gain importance similar to that of hardware testing and inspection.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/testing-inspection-certification-market

Further key findings from the report suggest:

  • The rise in manufacturing, construction, and infrastructure sectors provides a higher number of growth opportunities for the testing, inspection, and certification (TIC) market
  • The increase in the outsourcing of testing, inspection, and certification services by major industries operating in the automotive, manufacturing, and consumer goods, is projected to boost the market growth
  • The government of different countries in APAC are promoting various development plans. For instance, the 13th Five Year Plan of China stated the development of green transportation solutions for the advancement of the transportation sector in China
  • Key market players are considering partnerships and acquisition of startups providing innovative products to expand their outreach in the market
  • The key competitors in the TIC market are ALS Limited; Applus+; Bureau Veritas SA; UL LLC; DNV GL; Eurofins Scientific; Element Materials Technology; Intertek Group plc; SGS SA; TÜV NORD GROUP; MISTRAS Group, Inc.; TÜV Rheinland; TÜV SÜD; and DEKRA SE.

Cyber Security Market Size Worth $326.4 Billion By 2027

The global cyber security market size is expected to reach USD 326.4 billion by 2027, registering a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. The rising number of cyber-attacks across networks, applications, and endpoints severely impact organizations in terms of both losses of sensitive data and costs associated with it. Moreover, the increased usage of Internet of Things (IoT), cloud computing environment for improved data sharing and storage, and the rising trend towards the digital business transformation expose cases of cyber espionage, phishing, and other security incident breaches. The magnitude of such sophisticated cyber threats is compelling every industry and businesses to secure their networks, protect their data, and enhance their systems to detect threats in advance.

The cyber threat landscape is continuously evolving with the advancement in technologies such as blockchain technologies, online payment transaction models, digital file-sharing platforms, and digital collaboration and marketing tools. Such technologies increase the potential risk factors for cybersecurity threats. This is due to the influx of the high volume of user traffic that shares sensitive data such as transaction information, demographics, and psychographic information across the web. According to Verizon’s Data Breach Investigations Report published in 2020, 86% of the overall breaches were financially motivated, and 22% of the overall breaches involved phishing. On the other hand, 37% of the overall breaches involved were of stolen or used credentials. With rising cases of data breaches, cybersecurity vendors are increasingly investing in analytics, data science models, and predictive machine learning technologies to detect, block and quarantine device vulnerabilities at real-time.

The increasing malware attacks, cybercrimes, and online threats across public and private organizations have increased emphasis on data protection, privacy, and compliance. Governments and regulators are setting new rules and standards for the enterprises to adhere to industry risk and compliance regulations such as the GDPR, the California Consumer Privacy Act, the HIPPA, and the Electronic Communications Privacy Act on account of data privacy and protection. Companies failing to adhere to such obligations can potentially face hefty fines and penalties, as well as the risks of tarnishing their reputation. Additionally, regulators and government authorities are also actively collaborating with cyber security vendors to implement safety standards and data protection guidelines. For instance, in January 2020, the Dubai Financial Services Authority in collaboration with Palo Alto Networks, Kaspersky, Cofense, and Dubai Electronic Security Center, and Computer Incident Response Centre Luxembourg set up a special platform to help financial services combat the rising risks of cyber threats.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cyber-security-market

Further key findings from the report suggest:

  • The services segment accounted for the largest market share in 2019, owing to the growth in managed security services that help delivering security protection as security-as-a-service model
  • The infrastructure protection segment growth can be attributed to the increasing cyber breaches in physical infrastructures and the need to protect IT networks
  • Large enterprise segment is expected to account for the largest revenue of USD 219.29 billion by 2027 owing to the presence of increased cloud computing network infrastructures, IoT endpoints, and the need to comply industry standards.
  • The Healthcare industry vertical is expected to emerge as the fastest-growing segment over the forecast period.
  • The North American regional market accounted for the largest revenue share in 2019 and is anticipated to dominate the market over the forecast period.