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The worldwide Bluetooth low energy market is expected to be esteemed at US$ 8,587.0 Million of every 2022, conjecture to develop at a CAGR of 13.3% from 2022 to 2032.

Bluetooth low energy module is a prevalent and improved form of existing standard bluetooth innovation. Bluetooth low energy module is an open convention which is generally ordinarily utilized for short-range remote correspondence between gadgets.

Bluetooth low energy module for the most part centers around a few factors like low energy, little size, and battery worked sensor type application Moreover, bluetooth low energy modules are intended for the limited quantity of information rather than intermittent information streaming.

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Bluetooth low energy module is particularly created to address expanding need of cutting edge remote applications like quick network of gadgets, super low power utilization, dependability, and security. Besides, bluetooth low energy modules are additionally embraced for home mechanization and car area.

Bluetooth Low Energy: Drivers and Challenges

The major factor driving the market growth of bluetooth low energy module will be the surge in usage of the internet of things (IoT). The concept of the internet of things is rapidly growing in enterprises, aiming to interconnect each and every unconnected thing including persons and machine to cast interconnecting networks such as machine-to-machine (M2M), people-to-people (P2P) and machine-to-people (M2P) using wireless sensors network.

Some of the major players like Nordic Semiconductors and Cambridge silicon radio are offering development kit for establishing wireless application instantly without any finesse of radio frequency connectivity.  Moreover, bluetooth low energy modules are likely to boost significant traction owing to rising demand for consumer electronics.

The major challenges faced by Bluetooth low energy market is low data streaming capacity of low energy bluetooth modules.

Bluetooth Low Energy Market: Key players

Some of the key players of bluetooth low energy market are: Intel Corporation, Lenovo Group Ltd., Microsoft Corp., Motorola Solutions Inc., Nokia Corp., Toshiba Corp., IBM Corp., Ericson technology Licensing AB, Panasonic Corp., Bluegiga Technologies, Nordic Semiconductors, Koninklijke Philips NV, Cambridge Silicon Radio, Texas Instruments, Samsung Electronics Co. Ltd., MyLand Limited, Qualcomm Inc., Nike Inc., LG Corp and Ellisys S.A.

Bluetooth Low Energy Market: Regional Overview

Presently, North America and European region are holding largest market share of bluetooth low energy market owing to rise in urbanization and high adoption of consumer electronics devices.

In Asia pacific region, bluetooth low energy market is witnessing positive growth owing to rapid industrialization and heavy demand for Bluetooth enable devices.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Key Segments Profiled in the Bluetooth Low Energy Industry Survey

Bluetooth Low Energy Market by Technology:

• Bluetooth Low Energy Integrated Module
• Bluetooth Low Energy Discrete Solutions

Bluetooth Low Energy Market by Application:

• Bluetooth Low Energy for Consumer Electronics
• Bluetooth Low Energy for Sports and Fitness
• Bluetooth Low Energy for Automotive
• Bluetooth Low Energy for Healthcare
• Bluetooth Low Energy for Industry Automation
• Bluetooth Low Energy for Sensing
• Bluetooth Low Energy for Medical Applications

Bluetooth Low Energy Market by Region:

• North America Bluetooth Low Energy Market
• Latin America Bluetooth Low Energy Market
• Europe Bluetooth Low Energy Market
• Asia Pacific Bluetooth Low Energy Market
• Middle East and Africa Bluetooth Low Energy Market

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The buy now pay later (BNPL) platform market revenue totaled ~US$ 5.2 Bn in 2020, according to Future Market Insights (FMI). The overall market is expected to reach ~US$ 46.9 Bn by 2031, growing at a CAGR of 22.4% for 2021 – 31.

The report also forecasts that the market will surpass a valuation of ~US$ 6.2 Bn by the end of 2021. As per FMI, presence of application programming interface (APIs) and rapid technological advancements have created ample opportunities for buy now pay later (BNPL) platforms. These technologies have become essential in improving economic competitiveness, thereby propelling the market growth.

Over the past few years, buy now pay later (BNPL) platforms have been witnessing a dramatic increase in popularity among e-Commerce retailers and their customers. This phenomenon was triggered by the COVID-19 consequences and it seems like the buy now pay later (BNPL) platforms industry will continue to develop even in the post-pandemic times. The reasons for this are simple – BNPL is a convenient and cheaper way to get instant loans for buying goods online.

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Moreover, strong growth of the e-commerce sector helped startups and fintech giants to establish their footprint in the BNPL platform space across geographies. The growing popularity of credit among consumers has even forced traditional banking players to venture into the BNPL space.

For instance, in order to attract non-credit card users, conventional banking players in various countries have added buy now pay later (BNPL) platform offerings to their existing set of financial products.

“The rising number of BNPL providers is playing a key role in changing the buying behaviors and general outlook on traditional methods of credit. By providing a manageable way for consumers to borrow and repay with the interest (where applicable), built into the repayment plan with fixed-end date, BNPL providers are giving them more assurance that they can repay without falling into a revolving credit repayment” says FMI analyst.  

Key Takeaways: Buy Now Pay Later (BNPL) Platform Market

• By solution, the buy now pay later (BNPL) software segment is anticipated to account for the leading share in the global demand for buy now pay later (BNPL) platform during the forecast period. However, the buy now pay later (BNPL) APIs segment is estimated to grow at a robust CAGR of more than 24% through 2031.
• By enterprise size, the integration of BNPL platform in small & medium enterprises (SMEs) is anticipated to increase at a CAGR of nearly 23% between 2021 & 2031, while large enterprises are currently dominating the market share.

• The adoption of buy now pay later (BNPL) platform by retail & ecommerce sector is expected to rise at maximum pace. As per FMI, demand in this segment will increase by a CAGR of around 27% between 2021 and 2031.
• South Asia & Pacific is expected to lead the market followed by Europe in 2021. North America is anticipated to emerge as the fastest growing region between 2021 & 2031.
• The market in Japan is expected to progress at a CAGR of around 24% through 2031.
• In the U.K., sales are expected to increase at a CAGR of close to 29% over the next ten years.

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COVID-19 Impact Analysis on Buy Now Pay Later (BNPL) Platform Market

The outbreak of COVID-19 has led to more usage of BNPL platforms because remote working and social distancing have helped BNPL service providers gain a huge customer base. The pandemic has made BNPL more popularity as it provides more flexible financing options and low-interest fees.

Therefore, those customers who experienced financial hardships during the pandemics can still afford to buy online. Whereas the BNPL providers can generate substantial revenues based on an increased number of customers who pay small to no interest fees and merchants who are charged for using the BNPL payment method to attract more buyers.

The market has witnessed a significant growth previously, but due to the unexpected COVID-19 outbreak, the market will witness additional growth in 2020. The reasons for the sudden hype around BNPL are various and are undoubtedly tied to the rapid growth of online shopping.

Furthermore, the increased acceptance of consumers to use mobile banking solutions and the growing awareness of BNPL as a payment alternative has paved the way for an extended offering. Finally, the COVID-19 pandemic has made this a ‘perfect storm’ shifting more business to online, increasing consumer confidence in shopping online and increasing the need for managing personal cash-flows at least for a part of consumers.

Thus, the demand for buy now pay later (BNPL) platform is estimated to grow around 1.4X from 2019 to 2021.

Rapid Adoption of Buy Now Pay Later (BNPL) Platforms in Cross-Industry Applications to Propel Sales

While the buy now pay later model has so far focused mainly on retail and e-commerce, the business model is applicable to various other industries. Thus, it is possible that buy now pay later (BNPL) platforms will expand to other sectors, such as groceries, as well as physical stores, paving the way for more omni-channel applications.

Being the latest wave within the larger fintech industry, buy now pay later (BNPL) platforms are poised to further disrupt the traditional banking landscape. Considering the long-term financial impact of the Covid-19, particularly among young generations, buy now pay later platforms are likely to observe accelerated adoption in the future.

With established players like PayPal and MasterCard entering the competition, the market is likely to get increasingly saturated and major banks, fintech start-ups and tech giants will be competing for consumer attention and market share.

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More Valuable Insights on Buy Now Pay Later (BNPL) Platform Market

FMI’s report on the buy now pay later (BNPL) platform industry research is segmented into four major sections – solution (buy now pay later (BNPL) platform, buy now pay later (BNPL) APIs, and services), enterprise size (small & medium enterprises (SMEs) and large enterprises), industry (BFSI, retail & ecommerce, healthcare, media & entertainment, travel & tourism, automotive, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the buy now pay later (BNPL) platform demand outlook.

Competitive Landscape

Maximum number of leading players in the buy now pay later (BNPL) platform industry are coming with advanced and innovative solutions that meets the ever-changing demand from various organizations. A high number of retailers is focusing on accepting these point-of-sale and online installment loans as a payment method, thereby creating growth opportunities for the BNPL solution providers.

• For instance, in September 2021, PayPal Holdings, Inc. announced that it has agreed to acquire Paidy, a leading two-sided payments platform and provider of buy now, pay later solutions in Japan. The acquisition will expand PayPal’s capabilities, distribution and relevance in the domestic payments market in Japan, the third largest ecommerce market in the world, complementing the company’s existing cross-border ecommerce business in the country.

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The regulatory reporting solutions market revenue totaled ~US$ 4.5 Bn in 2021. The regulatory reporting solutions market is expected to reach ~US$ 20.2 Bn by 2032, growing at a CAGR of 14.7% for 2022 – 2032.

According to the regulatory reporting solutions market analysis by Future Market Insights (FMI), the demand registered in the market will increase at a healthy CAGR of 14.7% from 2022-2032.

The report states that the market is expected to reach the valuation of ~US$ 5.1 Bn by the end of 2022. As per FMI, intelligent data analysis and reporting present an opportunity to identify trends and better mitigate inherent risks.

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New regulatory regimes may lead to a more proactive approach to regulations. Regulatory processes have become streamlined due to adoption of regulatory reporting solution and it provides regulators a real-time data. Enterprises are using technology like Apache Spark for real-time data analysis and monitoring.

Banks in the process of financial intermediation are confronted with various kinds of financial and non-financial risks viz., credit, interest rate, foreign exchange rate, liquidity, equity price, commodity price, legal, regulatory, reputational, operational, and others.

These risks are highly interdependent and events that affect one area of risk can have ramifications for a range of other risk categories. Thus, top management of banks should attach considerable importance to improving the ability to identify, measure, monitor, and control the overall level of risks undertaken. 

The broad parameters of risk management function should encompass risk management policies approved by the Board, which should be consistent with the broader business strategies, capital strength, management expertise and overall willingness to assume risk; guidelines and other parameters used to govern risk taking including the detailed structure of prudential limits; well laid out procedures, effective control and comprehensive risk reporting framework. 

Such activity infuses and affects the regulatory reporting structure. To fulfill such advanced banking data processing is increasing the sales of regulatory reporting solutions across the banking sector. 

Key Takeaways: Regulatory Reporting Solutions Market 

• By solution, the regulatory reporting software segment is anticipated to account for the leading share in the global demand for regulatory reporting solutions during the forecast period. However, the cloud-based segment is estimated to grow at a robust CAGR of 18.3% through 2032.
• By Industry, the securities & investments segment is anticipated to increase at a CAGR of 18.5% between 2022 & 2032.
• Europe is expected to lead the market followed by North America in 2022. Europe is anticipated to emerge as the fastest growing region between 2022 & 2032.
• The market in Germany is expected to progress at a CAGR of around 21.4% through 2032.
• In U.K., the regulatory reporting solution market is expected to grow by 5.7X during the forecast period.
• Regulatory reporting solution market in China is estimated to witness the absolute opportunity of US$ 744 Mn in the forecast period.

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Increasing Digital Transactions in Multiple Dimensions and Increased Demand for RegTech Solutions 

Increasing demand for online payment modes in bank transactions, e-commerce transactions, and individual money transactions has created a huge database of transactions, which is difficult to maintain manually by financial service companies. Banking and insurance service companies are facing a very complex and dynamic regulatory environment.

The compliance teams face challenges in determining the relevance of these changes and their compliance. Hence, regulatory technology solutions help financial service companies to overcome these challenges, which in turn is projected to fuel the demand for regulatory technology solutions during the forecast period. 

The major driver in the market is the rising need for compliance and risk management solutions among financial institutions. As cases of fraudulent activities are rising, the need for the adoption of better compliance and effective solutions has increased.

To enhance work efficiency and lessen compliance costs, regulatory technology is the best solution. Hence, these drivers will lead to substantial growth of the regulatory reporting solution market. 

Also, the emergence of digital currencies such as cryptocurrency and increasing investment activities across the U.S., India, the U.K., and China is expected to facilitate the market’s growth. 

Increase in Number of Financial Fraud Cases and Stringent Government Regulations 

Numerous amendments, rules, and regulations have led financial institutions to adopt solutions such as regulatory technology solutions to automate and streamline complex compliance activities and workflows, thus propelling the growth of the regulatory reporting solutions market across the globe.  

The rising NPAs, fraud cases, and money laundering have pushed governments and financial institutions to impose many regulations while taking loans or transferring money. These regulations are designed to protect government entities and financial institutions from any fraudulent activities and provide safe and uninterrupted financial services to their customers.  

The efficient financial data management coupled with increasing demand for maintaining records is anticipated in the near future. Additionally, enhanced performance in maintaining these reports coupled with better workflow management also creates demand for new generation regulatory reporting solutions. 

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More Valuable Insights on Regulatory Reporting Solutions Market 

Future Market Insight’s report on the regulatory reporting solutions market research is segmented into three major sections – solution (regulatory reporting software, and services), industry (banks, insurance, wealth & asset management, securities and investments, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the regulatory reporting solutions demand outlook. 

Competitive Landscape

Regulatory reporting solutions market players are focusing on various strategies for increasing their investments in research and development to support future technologies. In addition, several companies are acquiring and entering into partnership with other companies to develop their own regulatory reporting solutions to serve their customers and reduce the churn rate

• In August 2021, Regnology entered into partnership with Revoult to expand the usage of the Abacus360 Banking solution for its additional regulatory reporting function in U.K.
• In August 2021, Adenza AxiomSL, entered into collaboration with JWG, a trusted financial services regulatory intelligence company.

Regulatory Reporting Solutions Outlook by Category

By Solution, Regulatory Reporting Solutions Demand is segmented as:

• Regulatory Reporting Software
  • Cloud-based
  • On-premises
• Services
  • Managed Services
  • Professional Services
    • Consulting
    •  Risk & Compliance
    •  Implementation & Integration
    •  Support & Maintenance

By Industry, Regulatory Reporting Solutions Outlook is segmented as:

• Banks
• Insurance
• Wealth & Asset Management
• Securities & Investments
• Others

By Region, Regulatory Reporting Solutions Sales is segmented as:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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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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According to newly FIDO authentication industry analysis by Future Market Insights (FMI), the demand registered in the market will increase at a CAGR of 22.8% from 2021-2031.

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 global fiber optic gyroscope market demand outlook remains positive, as FMI forecasts its valuation to surpass US$ 1,413 million by the end of 2021.

Owing to increasing application in military & defense and automotive industries, the market for fiber optic gyroscope is expected to grow at a CAGR of 8.3% over the forecast period 2021 to 2031 in comparison to CAGR 6.8% registered between 2016 and 2020.

The emergence of autonomous vehicles is one of the primary factors fueling the demand for fiber optic gyroscopes. According to KVH, the inertial measurement units (IMUs), which combines fiber optic gyroscopes with accelerometer components provide highly accurate acceleration data and angular rate to track the exact position of the car.

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Increasing usage of fiber optic gyroscopes for ground detection, missiles flight control, and dynamic GPS tracking in military applications will create growth opportunities. Coupled with this, the rising demand for better navigation and stabilization platforms in aerospace, battlefield, and undersea environments is estimated to drive growth at around 7.4% in the military and defense domain, as per a study by FMI.

Key Takeaways from Fiber Optic Gyroscope Market Study

• In North America, the U.S. is expected to dominate the market, accounting for a market share of over 82% in the region through 2031.
• Owing to increasing adoption of advanced technologies in defense sector, the market in the U.K. is estimated to grow at a CAGR of 12% over the forecast period.
• India is likely to account for above 54% of the market share in South Asia and Pacific, growing at a CAGR of 13.5% by 2031.
• Based on sensing axis, 3-Axis will emerge dominant, accounting for a market share of over 42.5% by the end of 2031.
• Inertial navigation systems are anticipated to contribute a revenue share of around 44.5% in the global market through 2021.

Key Drivers

• Increasing application in the military and defense sector is fueling the demand for fiber optic gyroscopes.
• Surging demand for autonomous vehicles is spurring the sales of fiber optic gyroscopes.
• Rising adoption of automation in industries and homes is driving the growth of the market.

Key Restraints

• Fragile nature of the fiber optic gyroscope is a factor impeding the growth of the market.
• Repeated need to calibrate the fiber optic gyroscope is hampering the market demand.
• Mitigation in the accuracy of fiber optic gyroscopes due to vibration is negatively affecting the sales of the product.

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Competitive Landscape

Companies operating in the fiber optic gyroscope market are focusing on developing innovative products and forging strategic partnerships with other manufacturers to expand their production and increase the market share.

• FIBERPRO, a South Korea-based company, launched its new Fiber Optics based Single Axis Gyroscope named, FI 150 in June 2020. The product is able to stabilize the specific attitude of a moving system which can be used in weapons systems, cameras, telescopes, and many more.
• In June 2020, KVH industries, announced a launch of P-1775 Inertial Measurement Unit (IMU) featuring its new Inside Photonic Integrated Chip (PIC) technology. The technology that upgrades the inertial sensor performance and reliability for the growing autonomous market.

Some of the key players operating in the fiber optic gyroscope market profiled by FMI are:

• KVH Industries, Inc.
• EMCORE Corporation
• FIBERPRO, Inc.
• Saab
• Honeywell
• Tamagawa Seiki Co., Ltd.
• Optolink
• NedAero Components B.V
• iXblue
• Fizoptika

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More Insights on the Fiber Optic Gyroscope Market:

FMI provides an unbiased analysis of the fiber optic gyroscope market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global fiber optic gyroscope market with a detailed segmentation on the basis of:

By Sensing Axis:

• 1-Axis
• 2-Axis
• 3-Axis

By Device:

• Fiber Optics Gyrocompass
• Inertial Measurement Units (IMUs)
• Inertial Navigation Systems
• Others

By Application:

• Aeronautics and Aviation
• Robotics
• Remotely Operated Vehicle Guidance

• Military & Defense
• Industrial
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

About Us

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:

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According to a recent study done by FMI, the DDoS protection and mitigation security market is expected to reach US$ 13.3 Billion by 2032, up from US$ 3.8 Billion in 2022, expanding at a high CAGR of 13.4%.

This study explains that the key factors such as growing demand for sophisticated security solutions, evolving regulatory landscape, and growing volumes of business data across industries are expected to accelerate the DDoS protection and mitigation market during the forecast period.

The IoT ecosystem consists of numerous connected devices, gateways, servers, and other endpoints. With IoT gaining traction in a multitude of industries, such as smart manufacturing, healthcare, and connected vehicles, and expanding the scope of its applications, the network in use is growing complex and number of devices in the connected ecosystem is multiplying. With changes in the business environment, security requirements are also changing.

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Instances of massive DDoS attacks are gradually increasing across the globe. The attackers are using sophisticated tools to induce attacks, which may go undetected during initial phases.

Some of the significant DDoS attacks include Domain Name System (DNS) amplification attacks, NTP attacks, and Chargen-focused attacks. The multiple attack techniques used by hacktivist groups are leading to a huge financial loss for individuals, enterprises, and governments. Hence, deployment of DDoS protection and mitigation software in various industries is rising.

Know More About What the DDoS Protection and Mitigation Security Market Repost Covers

Future Market Insights offers an unbiased analysis of the global DDoS Protection and Mitigation Security Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the DDoS Protection and Mitigation Security Market, the market is segmented on the basis of component, application area, deployment mode, and vertical across five major regions.

Key Takeaways from the Market Study

• Global DDoS protection and mitigation security market was valued at US$ 3.8 Billion by 2022-end
• The US to account for the highest value share of US$ 4.7 Billion of global market demand for DDoS protection and mitigation security market in 2032
• From 2015 to 2021, DDoS protection and mitigation security demand expanded at a CAGR of 15.4%
• By Component, the Services category constitutes the bulk of DDoS Protection and Mitigation Security Market with a CAGR of 13.1%.

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Competitive Landscape

Players in the global DDoS Protection and Mitigation Security Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships.

The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

• In August 2021, Radware had partnered with hybrid infrastructure solutions provider INAP to provide global cloud web application security and protection against distributed denial of service (DDoS) attacks. INAP will deploy Radware’s security protections to organizations across various industries, including ad tech, healthcare, entertainment and gaming, financial services, ISF, and software as a service, amongst others.
• In March 2022, Corero Network Security provider of real-time, high-performance DDoS cyber defense solutions extended its automatic protection against Botnet and Carpet Bomb attacks. The company’s mission is to make the internet a safer place to do business by protecting against the disruption and downtime caused by DDoS attacks.
• In February 2022, Radware acquired SecurityDAM for USD 30 million with contingent payments of up to USD 12.5 million for Radware’s cloud DDoS protection service after the deal.

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Key Segments Covered in the DDoS Protection and Mitigation Security Market Report

DDoS Protection and Mitigation Security Market by Component:

• DDoS Protection and Mitigation Security Hardware Solutions
• DDoS Protection and Mitigation Security Software Solutions
• DDoS Protection and Mitigation Security Services
  • Professional Services
  • Managed Services

DDoS Protection and Mitigation Security Market by Application Area:

• DDoS Protection and Mitigation for Network Security
• DDoS Protection and Mitigation for Endpoint Security
• DDoS Protection and Mitigation for Application Security
• DDoS Protection and Mitigation for Database Security

DDoS Protection and Mitigation Security Market by Deployment Mode:

• On-premise DDoS Protection and Mitigation Security
• Cloud-based DDoS Protection and Mitigation Security
• Hybrid DDoS Protection and Mitigation Security

DDoS Protection and Mitigation Security by Vertical

• DDoS Protection and Mitigation Security for Government and Defense
• DDoS Protection and Mitigation Security for BFSI
• DDoS Protection and Mitigation Security for Manufacturing
• DDoS Protection and Mitigation Security for Energy and Utility
• DDoS Protection and Mitigation Security for IT and Telecommunication
• DDoS Protection and Mitigation Security for Healthcare
• DDoS Protection and Mitigation Security for Education
• DDoS Protection and Mitigation Security for Retail
• DDoS Protection and Mitigation Security for Other Verticals

DDoS Protection and Mitigation Security Market by Region:

• North America DDoS Protection and Mitigation Security Market
• Latin America DDoS Protection and Mitigation Security Market
• Europe DDoS Protection and Mitigation Security Market
• Asia Pacific DDoS Protection and Mitigation Security Market
• Middle East and Africa DDoS Protection and Mitigation Security Market

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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.

Contact:

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According to a recent analysis by Future Market Insights (FMI), the adoption of IoT connectivity management platform in the market is estimated to grow at a CAGR of 16.8% from 2022-2032.

The report states that the market is expected to reach the valuation of ~US$ 6.3 Bn by the end of 2022. Organizations  are adopting cloud-based solutions in order to increase the efficiency of their business in long run and provide security, improved collaboration and corporate data mobility.

Increasing adoption of IoT cloud platform due to demand for high-frequency data access and sharing with cost-effective data storage solutions is propelling the deployment of IoT platform in where the deployment of on-site IoT architecture is a very costly. Cloud solutions provide seamless communication between the IoT devices, expanded reach, and reduced latency over direct remote network connection.

Also, growing integration of IoT powered technologies is enabling organizations to use smart devices and sensors to collect and transform data into business insights more rapidly with high accuracy and lower cost.

Connecting cloud with IoT reduces errors, increases visibility, provides scalability and affordability with faster time to market, thereby driving the growth in the IoT connectivity platforms market.

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“Rapid digitalization across emerging economies is fueling the adoption of IoT devices, which is expected to auger well for the market. In addition to this, surging demand for workplace automation across various organizations will boost sales in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

• By component, the solution segment is anticipated to expand at a CAGR of 7% during the forecast period.
• Among the enterprise size, SMEs segment is estimated to grow by 2X during the forecast period.
• Cloud-based IoT CMS segment is expected to create an absolute $ opportunity of US$ 8 Bn during the forecast period.
• Based on industry, demand in the healthcare segment is anticipated to grow at a CAGR of 1% between 2022 & 2032.
• The market in U.K. is expected to progress at a CAGR of around 5% during the forecast period.
• In Japan, the IoT connectivity management platform market is expected to grow by 9x between 2022 & 2032.
• IoT connectivity management platform market in China is estimated to offer an absolute $ opportunity of US$ 1.3 Bn over the forecast period.

 Competitive Landscape

IoT connectivity management platform players are entering into partnerships with other players for enabling enterprises to track and control the IoT assets with unified and intuitive connectivity management services.  For instance:

• In Feb 2020, Ericsson collaborated with T-Mobile Austria and Stanley Black & Decker for accelerating the global deployment of Stanley Black and Decker’s connected equipment and services.

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More Valuable Insights on IoT Connectivity Management Platform Market

Future Market Insight’s report on the IoT connectivity management platform industry research is segmented into five major sections – component (solution, services), deployment (cloud-based, on premise), enterprise size (Small and medium-sized enterprises (SMEs), large enterprises),  industry (IT & telecom, consumer electronics, energy & utilities, BFSI, healthcare, retail, manufacturing, government and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the IoT connectivity management platform demand outlook.

IoT Connectivity Management Platform Outlook by Category

By Component:

• IoT Connectivity Management Platform Solution
• Services

By Deployment:

• Cloud-based
• On premise

By Enterprise Size:

• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)

By Industry:

• IT & Telecom
• Consumer Electronics
• Energy & Utilities
• Healthcare
• Manufacturing
• Retail
• BFSI
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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