Unified Threat Management Market Size Worth $10.09 Billion By 2025

The global unified threat management market size is expected to reach USD 10.09 billion by 2025 at a CAGR of 14.5% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Unified threat management (UTM) solutions eliminate the need for enhanced technical support and require fewer updates and contracts to manage network. This helps the end users to increase IT staff productivity and minimize operational costs. Latest trends, such as Bring-Your-Own-Device (BYOD), web applications, and virtualization, have compelled enterprises to prepare for emerging security risks in their networks, in addition to the growing concerns of internal and external threats. Growing number of such threats is impelling enterprises to adopt UTM solutions.

Moreover, these solutions are cost-effective and also have the ability to perform application-aware network tracking, scanning, and control. In addition, the solutions are easy to install & maintain and require lesser human intervention, which leads to further reduction in operational costs. All these factors are expected to drive the UTM market over the forecast period. Moreover, these solutions have multiple functionalities that allow consumers to reduce energy consumption and space. These benefits are further expected to contribute to the market growth. The key companies in the UTM market are focusing on developing advanced solutions that are aligned with the requirements of end users.

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Further key findings from the study suggest:

Virtual component segment is anticipated to register the highest CAGR of 15.2% from 2019 to 2025 due to increasing number of SMEs requiring virtual infrastructure to securely run a wide range of applications
Managed UTM segment is anticipated to register significant growth over the forecast period as these solutions eliminate the need to buy multiple appliances for enterprises and offer complete network protection
The cloud segment is projected to expand at the highest CAGR during the estimated period. It is the most preferred deployment method of UTM solutions as it allows users to remotely manage the appliance
Large enterprise is projected to be the fastest-growing segment from 2019 to 2025 due to increasing adoption of UTM solutions, which are cost-effective and easy to install & maintain in large enterprises
BFSI segment is expected to register a significant growth in future. High demand for remotely managing security system, owing to increasing number of online hacks and cyberattacks in banks, is expected to drive the segment
North America is expected to continue to dominate the global UTM market over the forecast period owing to the presence of major companies in the region
Prominent industry participants include Barracuda Networks, Inc.; Cisco Systems, Inc.; Check Point Software Technologies Ltd.; SonicWall; Fortinet, Inc.; Huawei Technologies Co., Ltd.; Untangle, Inc.; Juniper Networks, Inc.; Sophos Ltd.; and WatchGuard Technologies, Inc.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Augmented Reality Market Worth $100.24 Billion By 2024

The augmented reality (AR) Market size is expected to reach USD 100.24 billion by 2024, according to a new report by Grand View Research, Inc. The AR market is expected to witness a substantial growth owing to advances in hardware technologies and sophisticated mobile software.

Emerging trends such as mounting convergence between wearable devices, AR, and Internet of Things (IoT) are anticipated to drive demand. The convergence amongst these technologies is expected to provide more interactive and immersive user experience.

AR has been used efficiently in marketing and PR initiatives for television, motion picture and other media promotional campaigns. Hence, growing adoption of AR technology by the entertainment sector is projected to drive the market over the forecast period.

Rising conceptualization in entertainment-related plans is observed as a lucrative opportunity for the industry. For example, Magic Leap, an augmented reality company, is developing a technology called as Dynamic Digitized Lightfield Signal that shines on the retina of the user and allows interaction between fictional characters and the real world.

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Further key findings from the report suggest:

The hardware segment is estimated to grow at a CAGR of over 90% over the forecast period. Companies such as Sony and Microsoft are expected to commercialize their devices in 2016, which is expected to bolster growth over the forecast period. Further, several companies are working on enhancing the quality of sensors and processors used in AR devices. For instance, Google has collaborated with the chip manufacturers to build camera components and processors for Android phones.
Increasing penetration of smartphones and tablets are expected to drive the software segment, growing at a CAGR of over 55% from 2016 to 2024. Increasing demand for AR apps in retail, gaming and entertainment is expected to contribute to the industry growth.
The head-mounted display (HMD) segment is anticipated to dominate the market growing at a CAGR of nearly 70%from 2016 to 2024. It can be attributed to the increasing scope of applications across the military, medicine, scientific visualization, manufacturing, education, training, navigation, and entertainment. The other factors driving demand include better content connectivity, enhanced user-experience and improved Field of View (FOV).
The adoption of smart glasses is expected to increase significantly in the consumer segment. Several companies are developing advanced smart glasses which are more user-friendly, light weight and offer better FOV.
Automotive sectors expected to grow at CAGR of over 70% over the forecast period. Virtual technologies are increasingly used in automotive in response to the rising number of model and equipment variants in the vehicle design and development process. For instance, Volkswagen used spatial AR to put across virtual data onto the actual vehicle design models that allow the analyses of components. As a result, it saves time and cost required for product development.
Asia Pacific AR market is estimated to reach over USD 44.30 billion by 2024. China is anticipated to drive regional growth with the increase in adoption of AR devices and mobile apps. In 2014, China witnessed a rapid enhancement in hardware manufacturing, as a result, several chipset manufacturers are planning to support AR technology by immensely investing in the technology.
The key industry participants include AU Optronics Corp., Cambridge Display Technology Ltd., LG Display Co., Mitsubishi Electric Corporation, Panasonic Corporation, Sony Corp., and Toshiba Corp. The players engage in frequent merger & acquisitions to increase their product portfolio and geographical presence to gain competitive advantage.

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Edge Computing Market Size Worth $28.84 Billion By 2025

The global edge computing market size is expected to reach USD 28.84 billion by 2025 registering a CAGR of 54.0%, according to a new report by Grand View Research, Inc. Growing need to process large volumes of data being generated from the rise in Internet-of-Things (IoT) developments closer to the end user is expected to increase the demand for these solutions over the forecast period. Increasing emphasis on cost reduction and process automation coupled with intensified business competition is also expected to drive the market in the coming years. Organizations are endorsing this technology to enhance operations and gain real-time insights. Thus, the continued transition toward the adoption of edge computing is expected to influence the IT strategies of key companies over the forecast period.

Continued adoption of this technology for the data center application is also expected to propel the market growth. Its adoption is also expected to culminate in having micro data centers located closer to the existing infrastructure, which would help address the latency issues. Data Center Management-as-a-Service (DMaaS) is emerging as a low-cost way for data center management as it ensures effective use of the IT layer by monitoring data center’s infrastructure from the edge. DMaaS can also be utilized as a cost-efficient and flexible solution for companies willing to gain real-time insights. Stringent requirements of 5G standards, such as high reliability, ultra-low latency, and consistency in user experience, is expected to trigger the need for localized services based on Radio Access Networks (RAN).

As such, Mobile Edge Computing (MEC) is emerging as a promising computing architecture for telecom operators, IT platform providers, and system integrators. MEC adds virtualization and computing capabilities to a RAN. Prominent companies in the market include Microsoft Corp.; International Business Machines (IBM) Corp.; Cisco Systems, Inc.; Intel Corp.; and Amazon Web Services, Inc. These companies are actively developing innovative and unique solutions. For instance, Microsoft’s Azure IoT edge delivers cloud intelligence through the implementation of Azure services and Artificial Intelligence (AI) directly on cross-platform IoT devices. Similarly, IBM Corp. offers Watson IoT Platform Edge, which enables the end users to extend Watson IoT platform capabilities to edge devices.

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Further key findings from the study suggest:

High-performance applications in the edge network are expected to propel the growth of the software component segment over the forecast period
Data centers end-use segment is expected to witness the fastest CAGR over the forecast period owing to the rising need for reducing data center downtime
APAC is projected witness the highest CAGR of more than 60% from 2019 to 2025. Growing need for digital transformation to streamline and automate the operations is expected to drive the regional market
Intel Corp.; Aricent, Inc.; Amazon Web Service (AWS), Inc.; and Cisco Systems, Inc. are some of the prominent companies in the global edge computing market
These companies are collaborating with technology providers to deploy edge solutions on a broader scale for high-performance applications
Original Equipment Manufacturers (OEMs) are using this technology in their automation and predictive maintenance solutions and transforming their service model to enhance customer experience

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Smart Glass Market Size Worth $9.98 Billion By 2025

The global smart glass market size is expected to reach USD 9.98 billion by 2025 registering a CAGR of 15.2%, according to a new report by Grand View Research, Inc. Rising product demand in residential and commercial buildings for better aesthetics is expected to boost the market growth over the next six years. Architects are widely using smart technology in new buildings, which is further expected to have a positive impact on the product demand in the architectural application sector. As smart glass is gradually replacing its conventional counterpart in the manufacturing of automobiles, aircraft, and trains, significant growth opportunities exist for manufacturers in the transportation sector.

Four prominent companies involved in the development and production of smart glass, namely Research Frontiers Inc., Vision Systems, Hitachi Chemical, and Gauzy, jointly invested for producing Suspended Particle Device (SPD)-Smart light-control film used in Electronically Dimmable Windows (EDWs) manufactured by Vision Systems. EDWs are widely used in automobiles and aircrafts. Favorable growth prospects in the construction industry, increased production of automobiles, and growing investments in infrastructure projects are factors that are propelling market growth.

Residential and commercial buildings are also getting restored and renovated to make them more energy-efficient, thereby further widening the application scope for smart glass. Electrochromic glass has proved to be an appropriate solution for buildings, such as healthcare facilities, retail spaces, and classrooms, where sunlight control is a challenge. It helps maintain access to daylight and outdoor views, which aids in quicker recovery of patients, improves emotional wellness, and increases employee productivity. Moreover, retaining daylight access can reduce a building’s reliance on artificial lighting.

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Further key findings from the study suggest:

Electrochromic smart glass is projected to expand at the highest CAGR during the forecast period owing to its increased usage in commercial buildings and transportation application
Demand for smart glass in power generation application is expected to increase in the coming years due to extensive R&D in this field
Asia Pacific is projected to be the fastest-growing market registering a CAGR of 17.7% from 2019 to 2025 as it’s a relatively untapped region for manufacturers
AGC, Inc.; Corning, Inc.; DuPont de Nemours, Inc.; and Compagnie de Saint-Gobain S.A. are some of the prominent companies in the market

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Bring Your Own Device Market Size To Reach $238.39 Billion By 2020

The global BYOD market is expected to reach USD 238.39 billion by 2020, according to a new study by Grand View Research, Inc. growing proliferation of smartphones and tablets coupled with the preference to use a single device is expected to fuel market growth over the next six years. Grand View Research also observes that reduction in OpEx and CapEx is expected to drive BYOD adoption across enterprises.

Concerns regarding theft of the mobile device and safety of classified data are key challenges for enterprises implementing BYOD. Solutions such as mobile device management (MDM) and mobile application and content management have been employed by organizations in order to maintain security and management of data. Techniques including infrastructure provisioning, virtualization and containerization are used to ensure management.

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Further key findings from the study suggest:

Smartphones were the most widely used BYOD devices and accounted for the largest market share in 2013. Although laptops are also used to a large extent, they are expected to exhibit slower growth as compared to tablets, which serve the dual purpose of higher processing power and increased portability.
Mid-to-large sized businesses accounted for over 75% of the overall market in 2013. BYOD can also help small businesses drive profitability as well as improve job satisfaction. Reduced hardware/device costs along with the use of cloud-based solutions are expected to favorably impact BYOD implementation. In terms of industry vertical, financial/insurance and healthcare have been among active adopters.
North America led the market and accounted for 34.7% of the global market share in 2013; and is further expected to remain the largest regional segment over the next six years. BYOD adoption is expected to remain high in emerging markets. This can be attributed to relatively lower provision rate of corporate mobile devices in these regions coupled with high degree of comfort and flexibility of individuals in working during traditional downtime. BYOD demand in Asia Pacific is expected to grow at the fastest rate of 20.6% from 2014 to 2020.
Key industry participants include Cisco Systems, MobileIron, IBM Corporation, and Good Technology Inc. among numerous others. In order to ensure successful implementation, it is essential to enforce BYOD policies and avoid data security risk.

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Service Virtualization Market Worth $1.69 Billion by 2025

The global service virtualization market size is expected to reach USD 1.69 billion by 2025, according to a new study by Grand View Research, Inc., progressing at a CAGR of 17.6% during the forecast period. Increasing adoption of digitization by enterprises to automate business processes is one of the key trends stimulating market growth. Besides this, growing adoption of DevOps and agile methodologies for software development, in an attempt to improve collaboration between software development and testing teams, is anticipated to provide a fillip to the market.

Service virtualization enhances operational efficiencies and collaboration between development, quality, operations, and assurance teams to provide a continuous integration, testing, and delivery of software. Its tools and services cater to various needs of software development teams. They also enable developers to enhance the quality of test conditions and accelerate time to market, resulting in high operational efficiencies and increased return on investment.

Various industries such as IT, banking, insurance, retail, and telecom are widely adopting service virtualization solutions to enhance productivity, reduce time to market, streamline workflows, deliver high-quality products and services, and reduce costs associated with software development. However, issues related to data security regulations and policies are estimated to challenge the growth of the market.

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Further Key Findings from the Study Suggest That:

North America is expected to account for the largest share owing to rapid adoption of digital services along with large presence of major players and wide acceptance of cloud infrastructure
Asia Pacific emerged as the fastest growing market over the forecast period, owing to advancements in infrastructure, increasing IT outsourcing operations, and growing digital services
The software segment accounted for over 50.0% of the overall market in 2017. The services segment is expected to register the highest CAGR over the forecast period
The IT vertical dominated the market in the year 2017, followed by the telecom vertical. Growing use of digitalization and development of connected devices are expected to drive the market.
Key participants include IBM Corporation, CA Technologies, Micro Focus, Smartbear Software, Parasoft, Sogeti (Capgemini), Maveric Systems, and Prolifics.

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Speech And Voice Recognition Market Worth $31.82 Billion by 2025

The global speech and voice recognition market size is estimated to reach USD 31.82 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 17.2% during the forecast period. Demand for voice activated systems, voice-enabled devices, and voice-enabled virtual assistant systems is slated to increase over the coming years owing to rising applications in the banking and automobile sectors. Soaring need to counter fraudulent activities and enhance security in the banking sector is accelerating the adoption of voice biometrics for the authentication of users.

The automobile sector is expected to gain momentum in the near future owing to advancements in technology and emergence of innovative concepts such as autonomous and connected cars. Increasing integration of voice-activated software in next generation cars is likely to stoke the growth of the market during the forecast period.

Voice recognition is also a core technology widely used in the healthcare sector to enhance the electronic health record systems by providing an ease to doctors to speak and keep records instead of manual typing or writing. In 2017, the healthcare sector held the largest share in the for voice and speech recognition software market. It is poised to register healthy growth over the forecast period.

AI-based voice and speech recognition software is projected to witness a high CAGR during the forecast period owing to continual development of machine learning techniques and integration of connected devices with personal assistants. For instance, Dragon Drive is a personal assistant developed by Nuance Communication Inc., which integrates various household appliances, cars, and smartphones that can be connected to a hub through the internet. Thus, an individual can get alerts about daily chores, work schedules, traffic updates, and many more alerts through Dragon Drive.

However, lack of accuracy of these technologies in recognizing regional accents and dialects is anticipated to limit the growth of the market. Additionally, sentiment analysis using changes in the pitch of voice can provide growth opportunities to the voice and speech recognition software market.

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Further key findings from the report suggest

Rising focus on development of artificial intelligence-based system is estimated to trigger the growth of the market during the forecast period.
Deployment of speech recognition solutions in the consumer and retail verticals is likely to augment the overall market. Changing lifestyles in several countries including the U.S., Germany, and the U.K. are promoting the deployment of voice and speech recognition software
Growing adoption of smart electronics in India, China, Japan, and Brazil is also poised to fuel the demand for voice and speech recognition software in the consumer vertical. Leveraging deep learning algorithm in voice and speech solutions for better search results is expected to work in favor of the market
North America dominated the market in 2017, representing more than 35.0% of the overall revenue.
Domicile of key players such as Apple, Inc.; Facebook, Inc.; Baidu, Inc.; Amazon, Inc.; and Alphabet, Inc. is escalating the growth of the market in the U.S. and China
Key industry participants operating in the voice and speech recognition software market include Advanced Voice Recognition Systems, Inc.; Amazon, Inc.; Api.ai; Apple, Inc.; Baidu, Inc.; BioTrust ID B.V.; Facebook, Inc.; Google, Inc.; International Business Machines Corporation; M2SYSLLC; and Microsoft Corporation
These players focus on integrating artificial intelligence with voice and speech recognition software to build superior products that will increase their user customer base.

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3D Printing Market Worth $23.79 Billion By 2025

The global 3D Printing market size is estimated to reach USD 23.79 billion by 2025, according to the new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 16.5% over the forecast period. 3D printing is widely adopted in the industrial sector owing to high demand for enhanced product manufacturing and a shorter time to market. The industrial vertical is anticipated to the highest market share over the forecast period.

3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.

3D printing continues to gain popularity among hobbyists and innovators. While individuals are using it for domestic and personal purposes; universities and educational institutes are using 3D printing for conducting technical training. The market is subject to witness a considerable economic growth in the forthcoming years. Machining shops have managed to adopt alternative business models by installing 3D printers and offering related services, such as 3D printing materials, filaments, 3D modeling, and 3D printer software, particularly in Brazil, South, Africa, and India among other developing countries.

Based on application, the 3D printing market has been segmented into prototyping, tooling, and functional parts. Apart from the industrial vertical, automotive, healthcare, and aerospace and defense verticals are among the leading adopters of the technology. Incumbents of these verticals have an emphasis on accuracy, enhanced product designing, reliability, shorter time to market, and economical production processes. Given that additive manufacturing possess can offer all these benefits, the adoption is expected to continue gaining traction over the forecast period.

The 3D printing and related technologies are evolving continuously in line with the intensive R&D activities and the aggressive investments from private and public sectors. Government funding and encouraging initiatives in developed economies are prompting manufacturers to pursue technological improvements and adoption of new technologies.

North America accounted for the largest market share of more than 35% in 2017 as a result of the extensive adoption of the technology in several industries. On the other hand, Asia Pacific has emerged as a manufacturing hub owing to an expanding consumer base and the continued Foreign Direct Investments (FDI). Hence, Asia Pacific is expected to witness a remarkable growth over the forecast period.

The 3D printing technology is a capital-intensive technology. At the same time, there is a lack of knowledge regarding the advantages associated with 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for 3D printing. These factors are expected to hinder market growth in near future. However, government initiatives aimed at increasing awareness are expected to help counter the restraints.

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Further key findings from the study suggest:

Demand for desktop 3D printers is expected to increase over the forecast period owing to rising popularity among hobbyists for domestic, household, and personal usage as well as for training purposes In education sector
Prototyping segment dominated the 3D printing market in 2017 and is expected to expand its market share to more than 60% by 2025
The desktop 3D printing segment is expected to witness significant rise in adoption of the technology over the forecast period
Asia Pacific is forecasted to grow significantly owing to continued urbanization and demand from automotive, consumer electronics, aerospace and defense, and healthcare verticals, particularly in China, Japan, and South Korea among other countries
The prominent market players include Stratasys Ltd.; 3D Systems, Inc.; 3D Ceram; GE Additive; HP Inc.; Tiertime; EnvisionTEC, Inc..; and Dassault Systemes.

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Smart Antenna Market Size Worth $8.95 Billion by 2025

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.

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Further key findings from the study suggest:

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.

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RFID Technology Market Worth $40.5 Billion By 2025

The global radio frequency identification (RFID) technology market is estimated to reach USD 40.5 billion by 2025, according to a new report by Grand View Research, Inc. The industry is expected to witness a steady growth owing to the increasing demand from the retail sector and the healthcare industry.

RFID technology has been in use for several years now; however, the recent growth in its applications across a wide set of industries, such as retail, transport, medical, and defense, among others, has spurred its adoption. The retail industry is at the forefront and has witnessed its technological reconnaissance with the use of RFID tags. An interesting fact of the retail sector is the way it has successfully passed on the benefits of the technology to other industries in the supply chain with the help of the mandates.

An important aspect of the RFID technology market is the varying nature of manufacturing and evidently the related costs. The past decade has seen a considerable reduction in the production costs with the advent of many new technologies such as printing and ink-jet. As the vendors benefit from these trends in the market, the increasing penetration of cost-to-volume benefits is expected to perpetuate to the end users.

RFID devices are anticipated to witness a surge in demand as the technological proliferation has led to an extensive use of smart cards, access control, and other NFC applications. In addition, the use of Ubiquitous Sensor Networks (USNs) and many short-range wireless communications, such as WiFi and Zigbee, is expected to help in the RFID market growth. To sum up the trends in the market, the RFID industry is anticipated to witness a healthy growth in the coming years with technology, cost, and size fueling its rapid deployment.

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Further key findings from the report suggest:

Government and industry specific mandates are expected to play a vital part in the deployment of RFID devices.
The key focus of industry veterans is RFID tags while emphasis laid on frequency bands and size optimization.
Numerous research and development activities are being carried out as the industry participants vie for the technological edge.
The impact of global technology trends, such as Internet of Things (IoT) and wearables, is prominent on the market and is expected to define the industry’s direction for the next decade.
The industry is fragmented in nature and there are several regional and global players operating in the market at various levels of the value chain.

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