Tag: Support & Maintenance

Network Access Control Market To Grow At 30.2% CAGR From 2015 To 2022

The global network access control market is expected to be worth USD 4.39 billion by 2022. Rising demand for endpoint intelligence and risk mitigation have led to a high demand for NAC solution. Also, technological proliferation is also expected to augment the demand for NAC solution. Rising use of Internet of Things (IoT) and machine to machine networks is projected to fuel growth over the next seven years. Network access control is capable of addressing dynamic enterprise and regulatory scenario.

Several vendors in North America are investing in network access control solution due to which the market is likely to gain traction. The market is expected to present a lucrative opportunity for manufacturers as it attracts several large-scale investments. These investments are likely to contribute significantly to the industry growth in the region.

Countries in Asia Pacific including India and China have a tremendous potential for growth. Growing demand for cloud-based social and mobile technologies are extensively being used in the region which in turn is expected to propel demand over the forecast period. As a result, NAC solutions are projected to witness substantial growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/network-access-control-market

Further key findings from the report suggest:

  • Web-based businesses are implementing security solution to save themselves from malware, cyber-attack and online fraud which affect organizational functioning and hamper business continuity.
  • Government run organization and agencies are adopting NAC solution to filter unauthorized users, networks and device connections. Regulatory compliance policies including Payment Card Industry Data Security Standard (PCI DSS) and Control Objectives for Information and Related Technology (COBIT) are likely to propel market growth.
  • The growing demand for secure network infrastructure is expected to drive NAC solutions growth primarily due to its ability to provide real-time tracking. Moreover, the substantial growth experienced by web based businesses and e-commerce websites, have led to increasing demand for secure infrastructure for carrying out e-transactions.
  • The online banking system is expected to present positive growth opportunities for BFSI vertical. The constant demand for high-end technology to combat hackers and malware by these institutions would augment the growth of NAC industry in this vertical. IT, financial institution and telecommunication companies have emphasized on endpoint intelligence and risk management efforts.
  • Vendors are focussing on adding functionalities such as post-connect and pre-connect to these solutions. Major steps are being taken in resolving the interoperability issues of NAC and making it more reliable. Key industry players include StillSecure, Portnox, Juniper Networks, Bradford Networks, Check Point Software Technologies, Aruba Networks, ForeScout, Cisco, Sophos, Bradford Networks, Aruba Networks, Pulse Secure, and Trustwave.

Insurtech Market Size Worth $16.8 Billion By 2025

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.

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

Further key findings from the report suggest:

  • 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.

Application Management Services Market Worth $87.60 Billion By 2025

The global application management services market size is estimated to reach USD 87.60 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 financial services sector and healthcare industry.

Application management services encompass a wide range of implementation and operational services that are vital to application maintenance, optimization, support and modernization, and migration. As the number of applications used and deployed by organizations is increasing continuously, the need to monitor and manage these services for business efficiency and continuity is driving the demand for application services across different industries.

Companies today make use of a myriad set of applications to address client needs, deal with numerous stakeholders in the value chain, and keep abreast with the rapidly evolving technology landscape. These conditions have been augmented with the advent of new trends such as Internet of Things, cloud, and analytics, which are disrupting the traditional system models. Owing to these factors, the application management services are anticipated to witness a steady rise in demand over the years to come.

The application services market is quite mature, which can be attributed to the presence of many traditional service providers who are entrenched firmly in the market. As the technological adoption gains velocity in the industry, delivery models and service scopes are set to exhibit a dramatic change with Software as a Service and cloud deployments playing a significant role in the market.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/application-management-services-market

Further key findings from the report suggest:

  • The industry is marked by the presence of big enterprises such as Cognizant, Accenture, IBM, Capgemini, and Deloitte
  • The banking, financial services, and insurance segment is anticipated exhibit a significant increase in demand
  • IT cost reduction, digitalization, and the need for gaining agility, reliability, and integrated system models will shape the nature of services provided and sought after in the market
  • The impact of changing industry dynamics will be profoundly exhibited on outsourcing, whether offshoring or onshoring industries, at a global level
  • The lack of innovation, communication gaps, and inefficient methods for change management and governance may become major hurdles in the industry’s growth over the forecast period