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The Blockchain Technology Market is predicted to surge at 43.5% CAGR through 2030, reaching US$ 59.5 Bn in valuation, up from just US$ 3.31 Bn in 2022. Assets can be intangible, such as copyrights and patents, or they can be tangible, such as cash or homes. Blockchain technology is constituted of ordered records distributed in a block structure. Every data block contains a hash of unique identifiers like digital fingerprint, time stamped batches of transactions and a hash of the previous block.

In this design, each block is connected in chronological order. The interconnected blocks constitute a blockchain. Practically, it is not possible to change or modify any block in the middle of the chain. This is because all the blocks located after the modified block are required to be modified at the same instant.

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Blockchain mechanism makes information immutable on the network. The capability of blockchain technology, to accommodate immutability of data, will motivate end users to accelerate adoption over the forecast period.

Key Takeaways of Blockchain Technology Market Study

• Blockchain platforms will offer the most lucrative opportunities for revenue generation, among all the blockchain technology-based solutions
• Blockchain-based supply chain management is the primary use case in the global market, followed by decentralized finance
• Large enterprises will continue being the primary contributors to the growth of the blockchain technology market on a global scale
• BFSI industry is the primary contributor to market growth with transportation and logistics industries following suit

Competition Landscape of Blockchain Technology Market

As the technology is lagging behind in global diffusion, blockchain technology start-ups are striving to develop long-term partnerships with blockchain technology integrators. The move comes in order to ensure steady revenue generation during the forecast period.

Start-ups are partnering up with artificial intelligence (AI) based technology developers in order to market comprehensive solutions for decentralized financial applications. Market leaders such as Bitfury Group Limited are focusing on expanding their blockchain portfolio to include hardware solutions that enable end users to transfer or share assets swiftly and securely over a blockchain-based network.

Other blockchain technology market participants, such as Cegeka, are innovating their existing blockchain solutions to maximize business impact. These players are developing scalable blockchain solutions that include highly desirable capabilities marketed at competitive rates.

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More Valuable Insights on Blockchain Technology Market

FMI’s research on the blockchain technology market is segmented into four major segments. By solution, the global blockchain technology market is segmented into applications, middleware and blockchain platforms.

With respect to use case, the global blockchain technology market is segregated into supply chain management, digital identity, payments and money, trading, commerce and exchange, smart contracts, and decentralized finance. With regards to enterprise size, the global blockchain technology market has been segmented into large enterprises, and small and medium-sized enterprises (SMEs).

On the basis of industry, the global blockchain technology market is segmented into BFSI, healthcare, retail and e-commerce, hospitality and travel, government, media and entertainment, and transportation and logistics, among others. The extensive segregation of the market helps readers evaluate lucrative opportunities in the global blockchain technology market.

Key Segments Of Blockchain Technology Industry Survey

By Solution :

• Applications
• Middleware
• Blockchain Platforms

By Use Case :

• Supply Chain Management
• Digital Identity
• Payments and Money
• Trading, Commerce and Exchange
• Smart Contracts
• Decentralized Finance
• Others (Voting, Property Records, etc.)

By Enterprise Size :

• Large Enterprises
• SMEs

By Industry :

• BFSI
• Healthcare
• Retail and e-commerce
• Hospitality and Travel
• Government
• Media and Entertainment
• Transportation and Logistics
• Others (Food and Beverages, Real Estate, etc.)

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By Region :

• North America Blockchain Technology Market
• Latin America Blockchain Technology Market
• Europe Blockchain Technology Market
• East Asia Blockchain Technology Market
• South Asia & Pacific Blockchain Technology Market
• Middle East & Africa (MEA) Blockchain Technology Market

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The Hyper-Converged Systems Market is anticipated to surge at a CAGR of 27.1% to reach US$ 9.83 Bn in 2022 and US$ 66.8 Bn by 2030. Technological advancements in hyper-converged systems have opened up a wide range of opportunities for businesses and corporate entities that require huge storage capacity, networking, and computing infrastructures for their business needs.

Making use of hyper-converged systems help enterprises achieve consolidate their data centers, set up virtual desktop infrastructure (VDI), and test the development of applications, among others. The preference for hyper-converged systems among various organizations has substantially increased, attributed to their integrated feature of backup and disaster recovery in the software, which, in turn, will drive the growth of the hyper-converged systems market over the next decade.

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Key Takeaways of Hyper-Converged Systems Market Study

• The hyper-converged systems market in North America is expected to hold the largest share of the global market by the end of the forecast period.
• Eliminating the need for separate servers and network storage and continued rise in the adoption of software-defined HCI platforms are significant factors that are driving the growth of the hyper-converged systems market
• Installation of hyper-converged systems for the purpose of backup and disaster recovery is expected to gain significant traction.
• South Asia & Pacific is expected to remain the key region in the global hyper-converged systems market, owing to increase in the adoption of hyper-converged systems within small and mid-sized enterprises.

COVID-19 Pandemic Impact Analysis

The rapid spread of COVID-19 has disrupted the world’s economy. IT service companies have also witnessed a significant slowdown in growth during this financial year. However, the demand for hyper-converged systems is on the rise, as organizations are adopting remote working and work from home during the COVID-19 pandemic. Organizations have started investing more in converged and hyper-converged systems, as these systems allow employees to work remotely with the inbuilt virtual desktop infrastructure (VDI) feature.

In terms of value, the hyper-converged systems market in South Asia & Pacific is estimated to record the highest growth during the forecast period. Increasing lockdown periods due to the pandemic in APAC countries are estimated to motivate IT companies to procure hyper-converged systems during the forecast period.

Competitive Landscape

The hyper converged systems market is characterized by the presence of a multitude of players, which include but are not limited to Dell EMC, Hewlett Packard, VMware Inc., Pfizer Inc., Acronis, Arcserve Eden Prairie and Fujitsu Ltd. to name a few. Heavy investments in R&D to explore potential growth avenues and investments in product marketing strategies have provided a wide platform for these players to grab a foothold. Important partnerships such as Pfizer with Oracle for creating a cloud based repository titled Clinical Cloud to store clinical data are also characteristics of a successful hyper converged systems market.

More Valuable Insights on Hyper-Converged Systems Market

Future Market Insights offers an unbiased analysis of the global hyper-converged systems market, providing historical data of 2015-2021 and forecast statistics for the years 2022-2030.

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Key Segments of Hyper-Converged Systems Industry Survey

Hyper-Converged Systems Market by Component:

• Hyper-Converged Infrastructure Appliances
• Server Virtualization Software
• Services

Hyper-Converged Systems Market by Enterprise Size:

• Hyper-Converged Systems for Large Enterprises
• Hyper-Converged Systems for SMEs

Hyper-Converged Systems Market by Application:

• Virtualization and VDI
• Data Center Consolidation
• Remote Offices / Branch Offices (ROBO)
• Backup and DR
• Others

Hyper-Converged Systems Market by Industry:

• BFSI
• Government
• IT and Telecom
• Healthcare
• Energy and Utilities
• Manufacturing
• Others

Hyper-Converged Systems Market by Region:

• North America Hyper-Converged Systems Market
• Latin America Hyper-Converged Systems Market
• Europe Hyper-Converged Systems Market
• East Asia Hyper-Converged Systems Market
• South Asia & Pacific Hyper-Converged Systems Market
• Middle East & Africa (MEA) Hyper-Converged Systems Market

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The global fiber optics collimating lens market is estimated at US$ 2.1 Bn experiencing a growth rate of 11.8% from 2022 to 2032. The industry is valued at US$ 554 Mn and US$ 677.4 Mn in 2021 and 2022 respectively. The growing awareness about the benefits offered by aspheric lenses over the traditional lenses is projected to be the key factor driving the market in the forecast period.

The rising investment in fiber optics is anticipated to augment the demand for fiber components, such as collimating lenses. The North American broadband service providers are likely to invest about US$ 60 Billion in fiber-to-the-home (FTTH) projects in the coming time.

Besides, telecommunication, BFSI, healthcare, and the healthcare sector are expected to be significant consumers of a collimating lens, thereby, driving the market in the forecast period.

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Also, the advent of 5G networks is expected to expand revenue methods, thereby, escalating the market growth in the coming time. In addition, the telecommunication industry and the growing demand for handling heavy data in logistics and manufacturing are likely to offer remunerative opportunities for expansion.  On the contrary, the high manufacturing cost of aspheric lenses and the usage of cheap copper internet wire are estimated to hinder the market growth.

Key Takeaways:

• The global fiber collimating lens market is estimated at USD 2.1 Bn expanding at a CAGR of 11.8% from 2022 to 2032
• The global fiber collimating lens market to value USD 677.4 Mn in 2022
• The Single Mode Segment to expand at 10.5% during the forecast period
• The Fixed Segment to record 10.5% from 2022 to 2032
• The U.S market to value USD 660 Mn, expanding at 11.1% during the assessment period
• Market in China to Value USD 151.9 Mn exhibiting a 10.9% growth rate

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Competitive Landscape

Key players in the global fiber optics collimating lens market include AMS Technologies, IPG Photonics Corporation, Fabrinet, Thorlabs, Coherent, and others.

Recent key developments among players are:

• In 2019, the new Coherent HighLight FL-ARM with a fiber-to-fiber switch was launched which is a high-power (2-8 kW), dual-fiber output laser that can sequentially power two separate processes or workstations.
• In April 2021, Thorlabs rolled out a new passively Q-Switched laser producing 500 ps pulses centered at 1030 nm. The microjoule-level pulse energies produced at kHz repetition rates allow multiple applications, LIDAR, laser-induced breakdown spectroscope, and material processing.

Key Segments Covered In The Fiber Optics Collimating Lens Market

By Type:

• Adjustable Fiber Optics Collimating Lens
• Fixed Fiber Optics Collimating Lens

By Mode:

• Single Mode Fiber Optics Collimating Lens
• Multi-Mode Fiber Optics Collimating Lens

By Wavelength:

• Fiber Optics Collimating Lens <1000 NM
• Fiber Optics Collimating Lens from 1000-1500 NM
• Fiber Optics Collimating Lens from 1500-2000 NM
• Fiber Optics Collimating Lens >2000 NM

By Application:

• Fiber Optics Collimating Lens for Communication
• Fiber Optics Collimating Lens for Medical Diagnostic & Imaging
• Fiber Optics Collimating Lens for Lasers and Detectors
• Fiber Optics Collimating Lens for Metrology
• Fiber Optics Collimating Lens for Spectroscopy and Microscopy
• Fiber Optics Collimating Lens for Other Applications

By Lens Type:

• Aspheric Fiber Optic Collimating Lenses
• GRIN Fiber Optic Collimating Lenses
• Other Fiber Optic Collimating Lens Types

By Region:

• North America Fiber Optic Collimating Lenses
• Europe Fiber Optic Collimating Lenses
• Asia Pacific Fiber Optic Collimating Lenses
• Middle East & Africa Fiber Optic Collimating Lenses
• Latin America Fiber Optic Collimating Lenses

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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The video streaming software Market is anticipated to progress at an impressive CAGR of 10.2% to reach US$ 5.9 Bn in 2022 and US$ 12.87 Bn by the end of 2030. At present, the broadcasting industry is experiencing an ever-increasing demand for original video content. Major competitors are spending billions on the production of new content to satisfy their existing audiences and also attract new viewers.

As such, several developers and broadcasters are striving to boost their video streaming software and services by creating original content to enhance brand reputation. Availability and quality of premium live content on different devices continue to grow, as live video streaming is in its nascent stage. Viewers who were earlier watching live events and sports on TV have started to shift towards these platforms, mainly due to the availability of live video content as per their linking and convenience.

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This demand-side trend is working in favor of the growth of the video streaming software market, which is projected for nearly threefold growth over the next decade.

Key Takeaways of Video Streaming Software Market Study

• For residential end-users, 4K or UHD video streaming software is becoming mainstream, and this trend is likely to grow with an increase in the availability of mobile devices that support these formats.
• Although some regions such as Latin America have limited broadband penetration and high levels of piracy, they show great potential in becoming over-the-top (OTP) video streaming software market leaders in the coming years, owing to the changing habits of end users.
• Although growth in the total number of video streaming subscriptions is slowing down in North America, consumption time or video streaming time per user continues to increase, as the content that is available to stream is constantly improving.

COVID-19 Pandemic Impact Analysis

Increasing cases of COVID-19 infections have forced governments across the world to legislate nationwide lockdowns. Citizens are required to stay indoors until the concerned authorities lift the lockdown orders. The first quarter (Q1) witnessed accelerated adoption of gaming and media platforms on a global level, as the need for digital entertainment rose among users.

Netflix and Amazon Prime, among other video streaming software and service providers, are registering increased influx of subscriptions, as the number of COVID-19 infections surge and strict lockdowns are legislated across the world. These lockdowns are propelling the adoption of video streaming software solutions, worldwide.

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More Valuable Insights on Video Streaming Software Market

Future Market Insights offers an unbiased analysis of the global video streaming software market, providing historical data of 2015-2021 and forecast statistics for 2022-2030.

Key Segment

Solution

• Software
• Services

Type

• Live Video Streaming Software
• Video-on-Demand (VoD)
  • (Subscription) SVOD
  • (Transactional) TVOD
  • (Advertising) AVOD
  • Others

Vertical

• Media and Entertainment
• Education
• Healthcare
• Banking and Financial Solutions
• Travel and Tourism
• Others

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Seasonings are considered to be food items or ingredients readily available in all households because of their importance in almost all food products. Seasoning is essential in cuisine because it adds aroma, flavor, and taste to foods. It’s mostly used in the processing of food items both at home and in restaurants. With the rising influence of western nations and globalization, the seasoning market has witnessed robust growth over the years.

The global seasoning market is on the rise due to the growing number of consumers using seasoning to enhance their meals’ taste and aroma. Another factor influencing the growth of the global seasoning market is consumers’ rising preference for homemade seasons. Due to this, there has been significant growth in the global seasoning market. Besides, growing consumers’ demand for convenience food and ready-to-eat meal due to their hectic lifestyle and inability to cook is a major force driving the global seasoning market forward over the forecast period. Increasing applications in various end-user sectors such as restaurants, cuisine, and the health benefits attributed to it are slated to facilitate the industry’s growth over the forecast period.

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Seasoning Market Growth Driven by Consumers’ Growing Demand for Healthy Food Products

Research has shown that the use of seasoning in the processing of food items is of significant importance due to the health benefits of the raw materials used in producing it. Turmeric is one of the raw materials used in the production of seasonings rich in antioxidants. It helps combat diseases such as cancer, inflammation, and Alzheimer, which have posed a threat to the human world over the years. The cumin seed is another starting material with antiseptic qualities capable of building the immune system. Cumin is also used in the cosmetics and pharmaceutical industries because of the properties it possesses.

Furthermore, seasonings can act as a substitute for salts in food processing. Since salt is an integral part of food used to enhance taste and flavor, seasonings can be used in place of it. Reports have shown that the overconsumption of salts often causes health diseases like hypertension. Hence, the need to switch to the use of seasoning in food processing among consumers is increasing drastically, which will influence the growth of the global market over the forecast period.

Seasoning Market Restraint

The rise in consumption of low-salt foods is a major factor expected to pose a threat to the growth of the global seasoning market over the forecast period. Consumers’ are warry of their health and need to consume food that has no adverse effect on their health. Hence, the growth of the seasoning market will be hampered if consumers have to switch or find an alternative.

Seasoning Market: Region-wise Analysis

The Asia Pacific is the fastest-growing region for the global seasoning market, with emerging economies like China and India acting as growth drivers. The raw material used for the production of seasonings and spices often grows well within the Asia Pacific due to the region’s favorable climatic conditions. For this reason, major players operating in the industry are moving to the region. Countries like the United States, the United Kingdom, Germany, and the United Arab Emirates have the highest demand for seasoning globally. The Asia Pacific is a major exporter of seasoning, and this has facilitated the growth of the global seasoning market over the years in the region.

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Seasoning Market: Competitive Landscape

• MDH Spices
• Nestle S.A
• The Kraft Heinz Company
• McCormick & Company Inc.
• Everest Spices
• DS Group

Region-wise Analysis

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Report Highlights

The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Global Seasoning Market Segment Analysis

The global seasoning market can be segmented on the following basis: By Type

By Herb

• Thyme
• Basil
• Oregano
• Parsley
• Others

By Spice

• Pepper
• Cardamom
• Cinnamon
• Clove
• Nutmeg
• Others

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Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on the Plant Based Market that throws light on potential opportunities and investments made in the Global plant based market

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The CCTV Camera Market to reach US$ 10.4 Bn in 2022 to US$ 16.1 Bn by 2029 and is anticipated to exhibit a CAGR of 6.4% during the forecast period of 2022-2029.

Critical infrastructure security is of utmost importance, as these facilities continuously face physical intrusions, thefts, terrorism threats, and trespassing issues. Many governments across the world are ramping up their security measures to protect critical infrastructures such as oil & gas refineries, power plants, smart grids, and water utilities from perimeter intrusion attacks.

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COVID-19 Pandemic Impact Analysis

As global economies are currently facing a critical crisis situation due to the COVID-19 pandemic outbreak, this, in turn, is impacting the supply chain and logistic operations of various video surveillance system manufacturers. Over the past 5 years, the market for CCTV cameras has grown by almost 6%, globally.

In 2022, total value of the global CCTV camera market is estimated to be nearly US$ 9 Bn. However, due to the coronavirus outbreak, the need for video surveillance has grown further in Q1, 2022, which would continue in Q2, 2022, as the demand for public video surveillance would grow significantly for security monitoring amidst lockdowns.

Key Takeaways of CCTV Camera Market Study

• North America is expected to hold a significant share in the global CCTV camera market during the forecast period.
• Dome cameras are likely to capture a leading share in the global CCTV camera market among all model types during the forecast period, as these cameras are widely used for end-to-end security solutions all over the globe.
• By technology, IP/network-based CCTV systems are anticipated to retain their hegemony in the global CCTV camera market during the forecast period, as they find immense application in the residential sector.
• Demand for CCTV cameras in the residential sector is estimated to expand at an impressive CAGR. However, the commercial sector is estimated to continue to hold significant market share in the global CCTV camera market during the forecast period.

Global CCTV Camera Market: Players

Some of the key vendors identified across the value chain in the global CCTV camera market include Bosch security systems Inc., Honeywell International Inc., Panasonic System Network Co. Limited, Axis Corporation, Toshiba Corporation, Samsung Techwin, and Vicon industries. Besides this, other players include Mitsubishi Electric, Schneider Electric, Checkpoint system, Baxawell, and ADT fire and security.

Increasing Adoption of Video Analytics to Propel Sales

Smart CCTV surveillance systems are able to detect, recognize, analyse, and track people, vehicles, and objects, alike. Video analytics software built into CCTV face recognition technology also monitors seamlessly in real time, and adds significant benefits in live-monitored and incident review operations. Video analytics allows improved operational performance and increased security monitoring to detect unauthorized physical intrusions across perimeters.

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More Valuable Insights on CCTV Camera Market

Future Market Insights offers an unbiased analysis of the global CCTV camera market, providing historical data of 2014-2021 and forecast statistics for 2022-2029. To understand the opportunities in the CCTV camera market, the market is segmented on the basis of model type, technology, camera sensor type, and application, across eight major regions.

Key Segments Of CCTV Camera Industry Survey

CCTV Camera Market By Model Type :

• Box Cameras
• Dome Cameras
• PTZ Cameras
• Fixed Bullet Cameras
• Positioning Cameras
• On-board Cameras
• Others

CCTV Camera Market By Technology :

• Analog CCTV Systems
• IP/Network-based CCTV Systems

CCTV Camera Market By Camera Sensor Type :

• CCD Sensor-based Cameras
• CMOS Sensor-based Cameras

CCTV Camera Market By Application :

• CCTV Cameras for Residential Use
• CCTV Cameras for Commercial Use
• CCTV Cameras for Industrial Use
• CCTV Cameras for Government Use

CCTV Camera Market By Region :

• North America CCTV Camera Market
• Latin America CCTV Camera Market
• Europe CCTV Camera Market
• East Asia CCTV Camera Market
• South Asia & Pacific CCTV Camera Market
• Middle East & Africa (MEA) CCTV Camera Market

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The global flight data monitoring and analysis market is projected to grow from US$ 1.1 Bn in 2021 to US$ 1.2 Bn by 2022. The market is expected to reach US$ 2.7 Bn by 2032 while recording a CAGR of 8.6% during the forecast period from 2022 to 2032.

Growing demand for software to analyze flight data in the ground-based market drives the FDMA market. By utilizing FDMA, fuel consumption was improved, accident fatalities were decreased, maintenance costs were minimized, and aircrew training was enhanced.  

Modern aircraft systems integrate software to boost performance, safety, and reduce maintenance costs. A growing number of data security concerns, along with an increasing number of blockchain systems and artificial intelligence and machine learning projects, are driving FDMA market growth.

FDMA has seen a further increase in market growth due to an increase in the demand for reducing fight accidents in order to save either material losses or insurance costs in the fight industry. 

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Key Takeaways: 

• The global flight data monitoring and analysis market is currently valued at US$ 2.7 Bn, with a CAGR of 8.6% during the forecast period. 
• Japan is expected to record a CAGR of 11.4% between 2022 and 2032. 
• Civil flight data monitoring and analysis segment will grow at a CAGR of 9% during the forecast period 
• In China, the market is expected to reach US$ 35.4 million by the end of 2032 the forecast period. 
• The Brazilian market recorded a CAGR of 7.9% during the forecast period. 

Competitive Landscape 

Key Players that have been profiled in the report are Flight Data Services Ltd., Scaled Analytics Inc., Aerobytes Ltd, Curtiss-Wright Corporation, Teledyne Controls. LLC. Developing innovative products and technology will allow customers to get the most out of new technologies.  

• In September 2021, FLYHT Aerospace Solutions Ltd. announced the acquisition of the Water Vapor Sensing System product line from SpectraSensors Inc. A license for SpectraSensors’ TDLAS technology, for use in the weather and aviation markets, is included in the acquisition, along with manufacturing assets, inventory, and aviation-specific intellectual property. 
• Acrouzet and Safran Electronics & Defense have joined forces under the European program to foster innovation in aeronautics to develop a new mini-control grip that will meet both the current and future needs of fixed-wing and rotorcraft pilots.  The firm has developed a demonstrator and completed tests and delivered the prototype to Safran Electronics & Defense in November 2021. The new technology will assist pilots in knowing what to do in an emergency situation so they can take the appropriate action. 

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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The Cloud ELN Service Market expanding at a CAGR of 13.1%, and is projected to increase a valuation from US$ 296.4 Mn in 2022 to US$ 701.7 Mn by 2029. The adoption of cloud-based electronic lab notebook (ELN) services is increasing in industries such as healthcare, research, and pharmaceuticals for data accuracy, portability, and security. They help improve collaboration in an organization, allowing data and workflow access from anywhere via an Internet connection.

Cloud ELNs help organizations save time and cost, facilitate the homogeneity of data and high-quality standards, and improve scalability and connectivity. Cloud-based ELNs provide better data management and help organizations manage their collaborations effectively.

Cloud-based ELNs are offered as SaaS on a subscription model that allows the end user to access data by any device from anywhere for service portability. Data on cloud-based ELNs can be encrypted by the user’s signature or password for data security.

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The coronavirus (COVID-19) pandemic is affecting the global economic order at almost all levels, and the cloud ELN service market will not remain immune to it. Based on initial indicators of Q1, FMI anticipates a substantial drop in spending during the first half of 2022, as the crisis echoes across every sector of the economy.

Amidst the COVID-19 pandemic, following social distancing and remote working (work from home) is becoming a confounding challenge for several companies, especially in the sphere of lab research and clinical trials. In order to address the demanding situation, key players are offering cloud ELN services to propel research or diagnostics of COVID-19 to curb its spread.

Adoption of Cloud-based ELNs in Food & Beverage Industry

Key Takeaways of Cloud ELN Service Market Study

• The academic and scientific research industry is expected to register a higher CAGR among all segments by industry during the forecast period, as by using cloud ELNs, scientists can easily access their documents and collaborate with their colleagues.
• Among the components, the software segment is projected to hold significant market share, owing to increasing adoption of cloud ELN services across various industries.
• The market in Asia Pacific excluding Japan (APEJ) is estimated to grow at a higher CAGR in the global cloud ELN service market, due to increasing awareness of laboratory solutions. Moreover, increasing number of clinical trials in emerging economies such as India, China, and Singapore is also expected to drive the growth of the cloud ELN service market in APEJ.

Cloud ELN services help develop high-quality products faster and cost-effectively in the food & beverage industry. ELNs enable food and beverage scientists to document their data and analyse it to make reports. They are useful for tracking previous experiments anywhere in an organization, which helps gain time in creating new formulations or ingredients.

Researchers can share their data with others so as to compare recipes and identify new opportunities. Cloud-based ELNs include electronic signatures, traceability, and version control to indicate approved formulations and ingredients for a specific experiment, which helps ensure compliance with global and local regulations.

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Competition Landscape

Key manufacturers in the cloud ELN service market include but are not limited to LabWare, Agilient Technologies, Perkin Elmer, Abbott Informatics, and Biodata.

Leading players in the cloud ELN service market have been observed investing in strategic collaborations and acquisitions in the industry to meet customized requirements of projects in myriad verticals.

For instance, Collaborative Drug Discovery has announced the integration of its Vault ELN with Microsoft’s Cloud Storage Program to facilitate real-time coordination between ELN users. Dotmatics has announced the acquisition of BioBright, which will involve cloud ELN capabilities with a single supplier. Also, AGU and TetraScience have joined hands for biopharma research through cloud ELN service.

More Valuable Insights on Cloud ELN Service Market

FMI’s report on the cloud ELN service market is segmented into four major sections – component (software and services), deployment (public cloud and private cloud), enterprise size (SMEs and large enterprise), industry (healthcare & life science, energy, food & beverages, academic and scientific research, petrochemicals, mining and metal, and others), across major regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan Middle East & Africa, and GCC Countries, to help readers understand and evaluate lucrative opportunities in the global cloud ELN service market.

Cloud ELN Service Market Outlook By Category

By Solution :

• Software
  • Laboratory Information Management System (LIMS) Platforms
  • Cloud Electronic Lab Notebook (ELN) Software
• Services
  • Validation Services
  • Consulting Services
  • Implementation and Integration Services
  • Support and Maintenance
  • Training

By Deployment :

• Public Cloud
• Private Cloud

By Enterprise Size :

• SMEs
• Large Enterprises

By Industry :

• Healthcare and Life Sciences
• Energy
• Academic & Scientific Research
• Food & Beverages
• Petrochemicals
• Mining and Metals
• Others

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Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA
• GCC Countries

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 7-years.

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The worldwide identity verification market is anticipated to grow at a CAGR of 14.8%. The valuation of the verification market is anticipated to increase from US$ 10 Bn in 2022 to US$ 40 Bn by 2032.

Increased digitization ambitions, a surge in fraudulent activities and identity theft over the previous decade, and rising use cases of digital identities among verticals are all driving the identity verification market.

Furthermore, initiatives by governments and businesses focusing on digitalization and the use of new technologies in identity verification systems, such as AI, machine learning, and automation, would present lucrative prospects for identity verification suppliers.

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Growing digitization initiatives, identity theft, an increase in fraudulent activities over the last decade, and an increase in the adoption of digital IDs among verticals are all pushing the global identity verification industry.

Moreover, governments and businesses have taken a number of steps to focus on digitalization and the adoption of new technologies such as machine learning, artificial intelligence, and automation in identity verification solutions, which are projected to provide lucrative opportunities for identity verification vendors and lead the identity verification market adoption trends.

As per the market study by Future Market Insights, the major hurdle impeding the growth of the identity verification market are financial constraints during the deployment of identity verification systems.

According to Jumio Corporation, the total cost of ownership for online identity verification is roughly USD 853,750 per year, based on specific estimates. Identity verification solutions are easier to obtain for large businesses. However, for SMEs, it becomes a problem owing to a lack of budgetary resources.

The high initial expenditures and ongoing upkeep of identity verification make it difficult for startups to get off the ground. SMBs usually have limited access to bank-grade technology and security solutions due to budget constraints, making them an easy target for cybercriminals and thus also hindering the growth of the global market.

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Price per verification, languages, data storage, and technical support are all elements that go into determining the cost of identity verification solutions and services. The majority of organizations charge per verification, as well as per month and year, with a limited number of ID verification checks provided. In some circumstances of a yearly package, some providers additionally offer variable pricing per verification. The issue is the disparity in prices charged by ID verification suppliers.

Key Takeaways

• The US identity verification market is expected to advance at a CAGR of 14.2% during the forecast period.
• The market is divided into BFSI, Energy & Utilities, Healthcare, Retail & eCommerce, Government & Defense, IT & Telecommunication, and Others, based on the end user. During the forecasted period, the BFSI sector is anticipated to have the greatest identity verification market size. As it becomes technologically prepared through the early adoption of new technologies, Asia Pacific is predicted to contribute to the fastest-growing region with the greatest CAGR during the forecast period.
• The China identity verification market size is projected to reach a valuation of US$ 2.9 Bn by 2032.
• Due to the increasing intrinsic demand from consumers for seamless onboarding, compliance management, and fraud prevention, the biometric solutions industry is expected to expand rapidly.
• The application of identity verification technologies in major organizations is likely to expand as internet penetration, and eCommerce operations grow.

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Competitive Landscape

With several competitors and competing technologies, the identity verification market is highly fragmented, resulting in fierce competition among the participants. Large firms are likely to make purchases and collaborate with startups that are focused on innovation in the future.

Acuant, Applied Recognition, Au10Tix, Authenteq, Equifax, Experian, GB Group plc (GBG), Idemia, and Idfy are some of the major players in the global identity verification market.

Recent Developments

SimpleNexus, a homeownership platform for loan officers, borrowers, real estate agents, and settlement agents, announced a partnership with Finicity’s Mortgage Verification Service on June 20, 2021. (MVS). Using a single embedded service, lenders would likely be likely to expedite the verification of applicants’ assets, income, and employment.

May 2021 – Acuant and Airside teamed up to prioritize privacy in the processing of biometrics and personal data for mobile identity verification processes, enabling the convenient and cost-effective reopening of travel and public areas.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:        
Future Market Insights
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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