Consumer Mobile Payments Market to Exceed at 41.1% CAGR by 2026

Such an exponential growth for global consumer mobile payment market is factored by rising proliferation of smartphones and advanced features added to existing payment platforms. The world is flooded with various mobile wallets, and such applications are expected to remain trending in the years to come. Increasing burden on e-commerce platforms is also expected to get divested across m-commerce platforms. Furthermore, government initiatives prompting adoption of cashless transactions is also stipulated to boost consumer mobile payments. Less time consumed by transactions, and immediate currency conversion serve as key proponents for consumer mobile payments.

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Mobile phones, developed to facilitate telecommunications, have now become wallets for consumers. Digital payments through mobile phones are revolutionized commercial settings across the world. Growing development of m-commerce platforms have also stepped in to promote the adoption of consumer mobile payments. Persistence Market Research’s latest report on the global market for consumer mobile payments projects that the market, which is presently worth over US$ 870 Mn, will register explosive growth at a whopping 41.4% CAGR to procure US$ 27,771.8 Mn revenues by the end of 2026.

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Consumer mobile payments are also being preferred for their convenience in paying for anything, anywhere. Integrated consumer mobile payments are also becoming popular among merhcants. Consumer mobile payments are also becoming more protected through advanced security features. Nevertheless, security breaches are observed to be top challenge faced by developers of consumer mobile payment applications. The report has outlined leading players in the global consumer mobile payment market, which include ACI Worldwide, Inc., Alphabet Inc., DH Corp, Fidelity National Information Services, Inc., Square, Inc., Fiserv Inc., Jack Henry & Associates Inc., MasterCard Incorporated, PayPal Holdings, Inc., Visa Inc., Apple Inc., and Starbucks Corporation.

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Key findings of the report, titled “Consumer Mobile Payments: Global Industry Analysis and Forecast, 2016 – 2026,” include:

  • Through 2026, over 90% of consumer mobile payments will be directed through remote mode of payments
  • Proximity mode of payment, however, will gain traction and showcase a gain of +140 BPS by 2026-end
  • Among the remote mode of consumer mobile payments, m-commerce will remain a dominant segment registering 40.8% CAGR
  • During the forecast period, global consumer mobile payments taking place through NFC modes will register revenue growth at nearly 50% CAGR
  • Throughout the forecast period, retail will remain the largest end-user industry for consumer mobile payments, while verticals such as hospitality & tourism and IT & telecommunications are expected to bring over US$ 11 Bn revenues by 2026-end
  • Asia-Pacific excluding Japan (APEJ) region is expected to register fastest revenue growth at 44.3% CAGR, while North America and Middle East & Africa will be observed as leading regions for growth of consumer mobile payments market

Consumer Network Attached Storage Market to Exceed at 11.6% CAGR by 2024

Apropos the report, titled “Consumer Network Attached Storage (NAS) Market: Global Industry Analysis and Forecast, 2016-2024,” the global consumer NAS market is presently valued a little over US$ 1,545 Mn, and will exhibit a healthy 11.6% CAGR during the forecast period. Factors such as rising demand for speedy transference of bulk data, growing need for efficient data backup plans, and increasing implementation of cost-effective storage options have been identified as the key drivers for the global consumer network attached storage market. Nevertheless, a steadfast adoption of consumer NAS systems across the globe is facing challenges such as competitive advantage of cloud-based storage services, and complex nature of expensive consumer network attached storage systems.

The ineffectiveness of traditional storage solutions has paved way for adoption of advanced storage options, particularly to record crucial consumer-centric data. Handling greater volumes of data transference has also necessitated the need for enclosing such data storage systems within a network. As opposed to single computer storage, individuals, as well as entrepreneurs, are growing more inclined towards setting network attached storage (NAS) servers. Remote access to such servers becomes more convenient for consumers, especially when improving operational efficiency and minimizing storage costs is a must. Persistence Market Research’s recent study explores the opportunities for adoption of such consumer-based NAS systems, predicting that by the end of 2024, the global market for consumer network attached storage will be valued at US$ 4,088.7 Mn.

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Even though a majority of global consumer NAS revenues emanate from North America, the Middle East & Africa region is being perceived as highly lucrative. Adoption of consumer network attached storage systems is expected to be rapid in this region. The MEA consumer NAS market is also being projected to exhibit the highest value CAGR – 14.2%. With North America at the forefront, the global consumer network attached storage market will also witness substantial growth across Europe and Latin America. Meanwhile, the Asia-Pacific consumer network attached storage market will expand at 10.6% CAGR through 2024.

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Based on the report findings, the global market for consumer network attached storage will be showcasing a greater contribution from small & medium enterprises (SMEs). In 2017 and beyond, SMEs will remain as the largest end-users of consumer network attached storage systems in the world. The demand for consumer NAS is also expected to remain substantial among residential end-uses, revenues from which are likely to reach US$ 1,315.2 Mn by 2024-end. Likewise, these end-users are actively adopting standalone consumer network attached storage system, as opposed to rackmount. The design of consumer NAS will continue to play a pivotal role in growth of the global market. By the end of 2024, more than US$ 2,700 Mn worth of standalone consumer NAS systems will be sold in the world. And, leading tech companies that will be catering to such surging global demands include, D-Link Corporation, NEC Corporation, Seagate Technology PLC, Netgear Inc., Western Digital Corporation, Synology Inc., EMC Corporation, ASUSTOR Inc., QNAP Systems, Inc., and Drobo Inc.

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Operational Predictive Maintenance Market Will Amass at 23.3% CAGR by 2024

The report further estimates that global demand for operational predictive maintenance software will remain higher in comparison with services. By the end of 2024, nearly three-fourth of global operational predictive maintenance revenues will accounted by software sales. When it comes to deployment of operational predictive maintenance systems, cloud-based deployment is projected to gain traction by nearly doubling its global revenue share through 2024. On-premise deployment will lose out to cloud-based deployment, but, will continue to be the dominant mode of deploying operational predictive maintenance.

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Minimizing asset downtime continues to be one of the top operational priority for tech companies. Global syndicates are adopting measures for operational predictive maintenance in order to avert the mix up arising from integrating multiple technologies. As corporations spanned across the globe begin integrating big data and IoT for improving operational efficiency, the need for operational predictive maintenance systems is converging into a necessity. Persistence Market Research recently conducted a study on how the global market for operational predictive maintenance, which is presently valued at nearly US$ 600 million, will soar till the end of 2024. According to the key findings compiled in this study, the global operational predictive maintenance market is expected to attain a staggering 23.2% CAGR and reach US$ 3,158.3 million value by the end of 2024.

Apropos the report, the demand for operational predictive maintenance in North America will remain the highest, compared to other regions. Companies in the US and Canada will account for sales of operational predictive maintenance systems worth over US$ 1,200 million by the end of 2024. However, Asia-Pacific’s operational predictive maintenance market will be rising at an exponential CAGR of 27.3%. The demand for such maintenance systems will also be high in Latin America, while Europe and the Middle East & Africa will show moderate growth in terms of revenues.

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Germany-based Robert Bosch GmbH and Software AG are known for providing advanced operational predictive maintenance systems and services across the globe. The global market for operational predictive maintenance is also witnessing participation for US tech companies such as SAS Institute Inc., PTC Inc., General Electric Company, IBM Corporation, eMaint Enterprises LLC and Rockwell Automation, Inc. Based in France, Schneider Electric SE is also a prominent provider for predictive asset analytics systems in the world.

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Manufacturing plants will be deemed as the largest end-users of operational predictive maintenance. In 2016, operational predictive maintenance systems deployed by manufacturing industries brought in more than US$ 160 million in revenues. In due course of forecast period, revenues accounted by manufacturing industries as end-users will have surge at the CAGR of 22.4%. Fastest revenue growth attained by end-user, however, will be credited to public sector companies around the globe. Sales of operational predictive maintenance to public sector companies will soar at more than 25% CAGR. Likewise, the demand for operational predictive maintenance will also be considerably high in transportation, automotive, healthcare, and energy & utility industries.

Data Management Platforms Market to Amass at 14.5% CAGR by 2024

In the report, titled “Data Management Platforms Market: Global Industry Analysis & Forecast, 2016-2024,” Persistence Market Research has profiled the leading companies providing data management platforms to end-users. Oracle Corporation in anticipated to remain the most-dominant player in the global data management platform market. Along with it, companies such as Adobe Systems Incorporated, Cxense ASA, KBM Group LLC, and Rocket Fuel Inc. will undertake strategic acquisitions to extend their market presence. On the other hand, Krux Digital, LLC, Lotame Solutions, Inc., and Turn Inc. are known for their focus on product launches. Other players in the global data management platform market include, Neustar Inc. and eXelate, Inc.

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Data management platforms have become an instrumental aspect of new-age advertising solutions. Businesses across every industrial vertical in the world continues to depend upon advertisements as a reliable tool for marketing and reaping sales orders. With a certainty that advertising operations will keep gaining thrust in the business of every enterprise in the world, the global demand for data management platforms will continue to soar correspondingly. A recent study conducted by Persistence Market Research projects that the evolution of global advertising industry has played a seminal role in the expansion of global market for data management platforms. According to the study, the global data management platform market, which is presently worth over US$ 1.2 billion, will surge at a stellar 14.5% CAGR to harvest an estimated US$ 3.7 billion revenues by the end of 2024.

Sales of data management platforms across the globe have been factored by their effectiveness in promotional activities of various business outfits. Media agencies, publishers, advertising networks, and brand developers for retail businesses have been recognized as the key end-users of data management platforms. The study estimates that media agencies will be the largest end-user of data management platforms, procuring over 30% value share of global market in 2017 and beyond. By the end of 2024, data management platform revenues accounted by publishers will soar at the fastest pace, registering 15.6% CAGR.

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The data management platform market in Asia-Pacific (APAC) is anticipated to grow rampantly, registering a 15.6% CAGR over the forecast period. North America accounted for around 45% share of global market revenues in 2016, and is slated to remain the dominant region by bringing in an estimated US$ 1.72 billion revenues by the end of 2024. Europe is expected to be the second-largest market for data management platforms, while Latin America and the Middle East & Africa (MEA) will exhibit growth at a comparatively low CAGR.

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Additional research findings on the global data management platform market include:

  • Rise in number of customers connected through data-sharing devices will fuel the adoption of data management platforms among advertisement & PR agencies
  • A majority of data management platforms deployed during the forecast period will be cloud-based
  • On-premise deployment of data management platforms will account for less than 16% of global market by 2024-end
  • Emergence of customer data platforms with operational flexibility will impose a threat for deployment of data management platforms
  • Throughout the forecast period, first-party & third-party data sources are projected to account for over 70% of global data management platform revenues

Managed Security Services Market to Exceed at 17.6% CAGR by 2026

Persistence Market Research delivers in depth research on the global managed security services market in its latest report titled, “Managed Security Services Market: Global Industry Analysis and Forecast, 2016–2026”. According to the report, the global managed security services market is estimated to be valued at US$ 19.98 Bn by 2016 end and is expected to increase to US$ 100.88 Bn by 2026.

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Managed Security Services is the systematic approach to manage the security needs of the organization by outsourcing its security services to third party vendors known as managed security service providers. These services are cost effective, provide skilled resources, network infrastructure, advanced security solutions and tools with adherence to compliance and regulatory requirements and 24 x 7 support and monitoring.

Managed security services consists of different types such as on-site consulting, perimeter management of the network of the client, vulnerability management, penetration testing, security audits and compliance monitoring, round the clock monitoring, intrusion detection system ,firewall management, threat management, DDoS attacks, security information and event management, end point security and  product resale, virtual private network, and anti-viral services.

Managed Security Services has applications in various end use industries such as banking and financial institutions, healthcare, retail, telecommunication and information technology, government, energy and utilities, industrial manufacturing and others.

The report analyses the global managed security services market in terms of  value (US$ Mn) by deployment type, service type, application type, organization and region; and provides insightful information regarding the value chain, market trends, competitive landscape, market dynamics and market estimation and forecast.

Market dynamics

Factors such as increasing cybercrime activities, cost effectiveness, delivering timely and speedy action against advanced threats, skilled workforce, 24 x 7 monitoring and support, continuous change in compliance standards and regulations and growing trend of BYOD and mobile devices at workplace are some of the drivers which are expected to grow global managed security services market during the forecast period.

However, barriers to entry in the form of scalability, automation and professional expertise act as major restraints in the global managed security services market. Moreover, there is always a huge amount of risk associated with outsourcing the critical and sensitive security information of any organization to the service providers. This also acts as a hindrance to the growth of the global managed security services market.

Market forecast

The global managed security services market is segmented on the basis of deployment type, service type, application type, organization and region. By software type, the market is segmented into cloud-based software and web-based software. On the basis of application type, the market is segmented into BFSI, retail, healthcare, telecommunications and others. By service type, the market is segmented into IPS/IDS, DDoS, threat management, firewall management, end point security and SIEM. The market is also segmented on the basis of the organization which includes large enterprises and small and medium enterprises. Key regions covered in the report are North America, Western Europe, and Asia Pacific excluding Japan, Eastern Europe, Middle East & Africa, Latin America and Japan.

Demand for cloud-based deployment is expected to grow over the web-based deployment during the forecast period. The cloud-based deployment market is expected to register a significantly high CAGR of 20.1% over the forecast period. The growth is attributed to the flexibility, scalability and easy deployment of the cloud-based platforms.

Managed Security Services is gaining traction in terms of service types in endpoint security, SIEM and threat management segment. The growing trend of “Bring Your Own device” which refer to the policy of permitting employee owned devices and mobile devices in the workplace is driving the major growth of the segment during the forecast period. Moreover, digital and social innovation, cloud platforms, mobile solutions and Internet of Things are expected to expand the segment with a high CAGR during the forecast period.

In terms of organization, small & medium enterprise segment is expected to grow at a high CAGR of 19.2% due to increasing focus towards the compliance and security regulations in these enterprises.

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On the basis of regions, North America is anticipated to be the most attractive region in terms of value share by 2026. The region is estimated to account for 31.4% value share in 2016 and is anticipated to continue the dominance in value share over 2016–2026.The markets in North America and Western Europe are anticipated to contribute majorly to the global managed security services market. The market in North America is estimated to be valued at US$ 6,270 Mn by 2016 and is expected to expand at the CAGR of 18.8% during the forecast period. The market in the Western Europe is expected to be valued at US$ 20.613 Bn by 2026. North America and Western Europe are the quicker adopters of managed security services. Their society are more connected and possess high risk from advanced cyber-attacks such as advanced persistent threats and zero day attacks.

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Key market participants covered in the report include IBM Corporation, Symantec Corporation, Fortinet, Inc., Computer Science Corporation, Accenture PLC, AT&T Inc., Intel Corporation, Cisco Systems, Inc. Checkpoint Software Technologies Limited, and Trustwave Holdings, Inc.

Managed File Transfer Software and Service Market to Grow 6% by 2025

According to the latest market report published by Persistence Market Research, titled “Global Market Study on Managed File Transfer (MFT) Software and Service: Driven by Advanced Features over FTP (Traditional File Transfer Protocol)” the MFT software and service market is estimated to be valued at US$ 1157.18 Mn by the end of 2015 and is anticipated to expand at a CAGR of 6.0% from 2015 to 2025, to account for US$ 2,071.94 Mn by 2025.

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MFT is a fast, secure, reliable, and transparent way of exchanging heavy or a large number of files inside or between the organizations. MFT solutions are adopted in those industries where data privacy is a primary concern; for instance, in banking and financial institutions where an exchange of a large amount of confidential data takes place. Thus, in order to secure such data transfer and to avoid any data loss in the midst, organizations are installing MFT solutions.

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Currently, the global MFT software and service market is driven by the rise in the number of online banking customers over the decade in the developed regions such as North America and Western Europe. As a result, the danger of cyber-attack is also increasing, due to which adoption of MFT solution by banks and financial institutions is increasing. The advantages and advanced features of MFT software over FTP are driving the rowth of the global MFT market further.

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The global MFT software and service market is sub-segmented on the basis of verticals into Banking, Financial Service & Insurance (BFSI), media & entertainment, retail, manufacturing, telecommunication, and others (government, energy & utility, and marketing & advertising). In the vertical segment, demand for MFT in the banking, financial service & insurance sub-segment is significantly high as compared to the other sub-segments. This sub-segment is estimated to account for 21.50% value share of the vertical segment by the end of 2025. As per PMR estimates, this segment is projected to expand at a decent CAGR during the forecast period.

On the basis of software, the global MFT software and service market is sub-segmented into system-centric, people-centric, and extreme file transfer. The system-centric file transfer sub-segment is estimated to account for 71.5% revenue share of the market by 2025 end.

On the basis of service, the global MFT software and service market is sub-segmented into implementation & integration, consulting, and maintenance. The maintenance sub-segment is estimated to account for the highest revenue share of the global market by 2025 end.

The report provides in-depth information about various trends driving each segment and provides analysis and insights about the potential of the MFT software and service market in specific regions. On the basis of regions, the global MFT software and service market is segmented into seven regions. By 2025 end, North America is estimated to dominate the market, accounting for around 50% value share of the global market, followed by Western Europe and APEJ.

Key players in the global MFT software and service market include The Axway Inc., IBM Corporation, Oracle Corporation, Software AG, CA Technologies Inc., GlobalSCAPE Inc., Wipro Limited, SWIFT, Micro Focus (Attachmate), and Signiant Inc.

Mobile Application Market to Rise at 11.1% CAGR by 2024

Persistence Market Research delivers key insights on the global mobile application market in a new report titled, “Global Mobile Application Market: Industry Analysis and Forecast, 2016–2024”. The global mobile application market is projected to register a healthy CAGR of 11.1% during the forecast period 2016-2024. The market is likely to witness an absolute dollar opportunity of US$ 50.47 Bn between 2016 and 2024.

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Rising disposable income increases the probability of consumer spending on media, entertainment, networking, and mobile communication; leading to higher potential sales of mobile applications. The instances of mobile application adoption are very high among the urban population as compared to the rural population – and hence there is high demand for mobile applications in developed regions (where the urban to rural population ratio is higher than developing regions). These factors have led to a rapid growth of the global mobile application market over the last few years and this trend is likely to continue in the coming eight years.

mobile-application-market

The global mobile application market is expected to witness substantial growth over the forecast period owing to advancements in the electronic, telecommunication, and m-commerce industries. Leading global smartphone manufacturers such as Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Lenovo Group Limited, LG Electronics Inc., Microsoft, etc. are making strategic investments in the development and production of their own application processor (AP) to differentiate their offerings and maintain increased market share and margins. There is also a rising trend of m-commerce particularly among the working population, and this has increased the demand for mobile applications. Growing internet penetration and rising subscription in social media are some of the other key factors driving the growth of the global mobile application market.

The global mobile application market is segmented on the basis of Store Type (Apple App Store, Google Play, Others); End Use (Games, Social Networking, Healthcare, Books, Music, Productivity, Education, Entertainment, News, Photos and Videos, Navigation, Travel, Business, Others); and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

The Apple App store segment is estimated to account for a revenue share of 47.2% in 2016. The Google Play segment is anticipated to reach a market valuation of US$ 17.22 Bn by the end of 2016 and this is expected to increase to US$ 43.53 Bn by 2024 end, registering a CAGR of 10.8% over the forecast period. The Games end use segment is estimated to be valued at US$ 18.45 Bn by the end of 2016 and this is expected to increase to US$ 43.99 Bn by 2024, witnessing a CAGR of 11.7% over the forecast period. As compared to the other segments, the Games segment is expected to exhibit a relatively high attractiveness index over the forecast period.

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Among regions, APAC is estimated to be the largest market for mobile applications throughout the forecast period. The APAC mobile application market is estimated to be valued at US$ 15.94 Bn by the end of 2016 and is expected to increase to a market value of US$ 41.97 Bn by 2024, registering a CAGR of 10.6% between 2016 and 2024. The North America mobile application market is estimated to account for a revenue share of 21.0% in 2016.

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The global mobile application market report profiles some of the leading market players operating in the global mobile application market. The companies featured in the report are Google Inc., Microsoft, CA, Cognizant, Hewlett Packard Enterprise Development LP, SAP SE, China Mobile Limited, Samsung Electronics Co. Ltd., Apple Inc., and Opera Software. Top market companies lay strong emphasis on strategic mergers and acquisitions, technology advancements, and competitive pricing to retain their position in the global mobile application market.