Market Research Blog – Page 3093 – New Product Development

Identity As A Service Market on Track to Hit US$ 135.0 Billion by 2033, Fueled by 30.4% CAGR

The identity as a service market is projected to experience significant growth, going from US$ 9.5 billion in 2023 to a substantial US$ 135.0 billion by 2033. This impressive expansion is forecasted to occur at an annual growth rate of 30.4% from 2023 to 2033.

Identity as a service embeds Identity and Access Management (IAM) capabilities based on standards like SAML, OpenID, 0Auth, and SW-Federation within the organization’s applications, which may otherwise cost an organization a significant amount to stay up with the standards. Furthermore, it provides developers with a plug-in approach that includes the necessary pre-existing API, saving time and money on in-house development.

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Increasing Regulatory Compliances for User Data Protection to Fuel Market Growth

Countries around the world are enacting stringent restrictions on the use of customer data. The General Data Protection Regulation (GDPR), Personal Information Protection and Electronic Documents Act, California Consumer Privacy Act, Act on Personal Information Protection, and many others are among the regulations. These policies are more concerned with implementing good and ethical procedures while using digitally generated data. As a result, this increases customer trust and improves the user experience. The expanding illegal practices of utilizing clients’ sensitive data for organizational growth have spurred the necessity for these restrictions to be implemented.

These regulatory compliances are expected to be met by the strategically applied identity as a service. The system provides features for ensuring allowed and authenticated data access. As a result, it aids in the prevention of external data breaches as well as internal data misuse within the firm. As of now, the penalties for data breaches are comparable to the risk of data protection. As a result, rising regulatory compliance globally is predicted to boost the identity as a service market share.

Key Takeaways:

Growing regulatory demands and data protection legislation, increased demand for cloud-based security services and solutions, and increased use of IAM solutions for business facilitation are key factors driving the market expansion.
The identity as a Service market is expected to record a CAGR of 30.4% during the forecast period 2023 to 2033.
North America dominated the identity as a service market.

Key Developments:

In June 2022, IBM improved its product, IBM Security Verify Governance V10.0.1 Fix Pack 1, to provide companies with a single platform for investigating, defining, and managing access risks. This solution employs business-centric rules, actions, and procedures to enable line-of-business managers, auditors, and risk managers to regulate the access and analyze regulatory compliance across company applications and services.
Microsoft Entra, a new solution, was announced in May 2022. Microsoft Entra Permissions Management is a solution designed to provide visibility of permissions to users and workload identities. It enables security teams to identify unused and excessive permissions more effectively, thereby enforcing the notion of least privilege and maintaining a top-down view of identities across all cloud services, including Microsoft Azure, Amazon Web Services, and Google Cloud Platform.
Ping Identity released a new product called PingOne DaVinci in February 2022. It is a vendor-neutral platform that enables enterprises to mix and coordinate identity services from several vendors. It includes over 100 pre-built connectors for various identity, IT, and automation services. It simplifies the development of digital user journeys across multiple apps and ecosystems by speeding up the integration and deployment of identity services.
Okta improved its product, Okta Workflows, in October 2021. Beyond Lifecycle Management capabilities, Okta Workflows has added features that serve a broader set of identity automation use cases, such as sophisticated security orchestration and DevOps. The new functionalities give customers the ability to accelerate innovation and automate identity procedures.

Key Companies Operating in the Market are:

Okta
Ping Identity
Idaptive
Microsoft
Oracle

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Identity as a Service Market Segmentation:

By Access Type:

Single Sign-on
Multi-factor Authentication
Compliance Management
Directory Services
Others

By Enterprise Size:

Small & Medium Enterprises
Large Enterprises

By Deployment:

Public
Private
Hybrid

By Service Type:

On-site
In-house

By Application:

Document Verification
Authentication/identification
Screening

By Industry:

Government
Retail & Consumer Electronics
Transportation & Logistics
Media & Entertainment
IT & Telecommunication
BFSI
Energy & Utility
Healthcare
Automotive
Others

By Region:

North America
South America
Europe
Asia Pacific
The Middle East and Africa

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Field Service Management Market Forecast Indicates Exceeding US$ 12.2 Billion by 2033 with 11.4% CAGR

The field service management market is on an impressive growth trajectory, with experts projecting a robust CAGR of 11.4% throughout the forecast period. This means that the industry is poised for significant expansion in the coming years. By 2033, it’s anticipated that the market will surpass a noteworthy milestone, reaching a value exceeding US$ 12.2 billion.

The field service management systems can integrate lots of systems into a single unit, thereby reducing the complexity of the architecture. The ability to automate tasks has helped companies achieve a higher return on investment.

With technological upgradation, a lot of companies have started making use of cloud technology owing to the owing to ease of accessing data along with mobility. The field service management is expected to make use of cloud technology on a large scale, which is expected to certainly increase the seamlessness of operations. This might well increase the demand for field service management devices.

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In the current times, lots of companies are laying strong emphasis on the democratization of data. The application of field service management ensures that the data is readily available, as a result of which the organizations function transparently.

Apart from that, owing to remote working conditions, a lot of companies have started adopting BYOD, instead of providing their laptops. This saves lots of money for the organizations. These factors are expected to massively surge the adoption of field service management systems during the forecast period.

Key Takeaways from the Field Service Management Market Report:

The market is expected to register a CAGR of 11.4% during the forecast period.
In 2023, the market size is expected to reach a valuation of US$ 4.2 billion.
By 2033, the valuation is expected to cross US$ 12.2 billion.
Based on regional analysis, North America is expected to be the dominant market.
The United States market is expected to register a CAGR of 11.1%.
The United Kingdom market is anticipated to post a CAGR of 10.7%.
China’s market is projected to report a CAGR of 10.4%.
Japan’s market is expected to record a CAGR of 9.8%.
South Korean market is expected to advance at a CAGR of 9.4%.
Based on organization size, large enterprises are expected to be the leading segment and are expected to record a CAGR of 11.1%.
Based on deployment, the on-premises is projected to be the dominant segment and is projected to register a CAGR of 10.8%.

Key developments in the market:

In February 2023, Microsoft rolled out ChatGPT-powered Teams premium.
In January 2023, Oracle and Red Hat expanded collaboration to bring Red Hat Enterprise Linux to Oracle cloud infrastructure.

Leading Key Players:

Microsoft
Oracle
Salesforce
SERVICEMAX
SAP SE

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Field Service Management Market Segmentation:

By Organization Size:

SMEs
Large Enterprises

By Vertical:

Telecom
IT and ITES
Healthcare and Life Sciences
Manufacturing
Construction and Real Estate
Transportation and Logistics
Energy Utilities
Oil and Gas
Others

By Deployment:

On-premises
Cloud

By Component:

Solutions (Schedule, Dispatch, and Route Optimization, Customer Management, Work Order Management, Inventory Management, Service Contract Management, Reporting, and Analytics)
Services (Integration and Implementation Services, Training and Support Services, Consulting Services)

By Region:

North America
Latin America
Asia Pacific
The Middle East and Africa
Europe

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Gigabit Passive Optical Network Market Surges, Anticipates Visionary Growth to Reach US$ 11,688.9 Million by 2033

The global gigabit passive optical network (GPON) market size is anticipated to surpass a valuation of US$ 6,821.7 million in 2023. It is anticipated to hit a valuation of US$ 11,688.9 million by 2033. The market is poised to record a modest CAGR of 5.5% from 2023 to 2033.

Manufacturers of GPON equipment are providing contemporary OLTs as a way to enhance network infrastructure. All of these elements are promoting OLT growth in the GPON market. The demand for fiber optic signal conversion to PON frequencies and frames has further fueled OLT market expansion.

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The need for OLTs in the GPON market has increased as a result of the rise in data, voice, and video traffic streaming over international networks. Since OLTs can reduce network costs and simplify the infrastructure without sacrificing performance, they are anticipated to have a substantial influence on GPON industry growth.

The market expansion of the optical network terminal (OLT) has been influenced by the expanding necessity to manage the information flow across optical distribution networks in both directions. The global deployment of fiber-optic network access by OLTs has fueled growth in the GPONs industry.

“Gigabit Passive Optical Network (GPON) Market is experiencing robust growth, driven by the escalating demand for high-speed internet services and the adoption of fiber-to-the-home (FTTH) technology worldwide,” says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Key Takeaways from the Gigabit Passive Optical Network Market

In 2018, the global GPON market size stood at US$ 5,732.6 million.
The market size recorded US$ 6,565.6 million in 2022.
The market developed at a CAGR of 3.4% from 2018 to 2022.
In 2022, the optical line terminal segment by component accounted for 56.6% of the share in the global market.
In 2022, the telecommunications segment by vertical garnered 20.4% market share.
In 2022, the United States accounted for 16.7% of the share in the global market.
In 2022, the United Kingdom market captured a 4.3% share of the global market.
In 2022, China held a 3.7% share of the global GPON market.
In 2022, Japan held 5.8% market shares globally.

Recent Developments in Gigabit Passive Optical Network (GPON) Market:

To offer consumers and companies throughout the world high-speed symmetrical 10G services, Calix, Inc. has announced that over 225 broadband service providers (BSPs) are actively establishing Calix XGS-PON networks. With the Intelligent Access EDGE based on the AXOS® Network Innovation Platform, BSPs can now streamline the management of their networks and speed up the deployment of fiber. With Calix Operations Cloud, BSPs may automate operations and anticipate maintenance needs in addition to real-time network health monitoring and machine learning.
AirFiber Networks’ fiber extension was powered by Nokia’s GPON technology in May 2021. This business upgraded its network and introduced high-speed data services with the aid of a broadband solution to better serve its clients. Within a year, AirFiber Network expects to be able to provide broadband services to 100,000 users in India by putting the solution into practice.
Global Connect purchased fiber-based single-dwelling unit (SDU) assets from Telenor Sweden and its wholesale business Open Universe in November 2021. A total of 14,000 houses on Telenor’s SDU fiber network and about 200,000 linked homes on Open Universe’s platform are expected to be acquired by Telenor Sweden as part of the deal. GlobalConnect wants to leverage the deal to bridge Sweden’s digital gap.

Leading Key Players:

Huawei
Cisco
ZTE
Nokia
Calix
FiberHome
DASAN Zhone
Allied Telesis
ADTRAN
Iskratel
Alphion
Unizyx
Others

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GPON Market Segmentation:

By Component:

Optical Line Terminal
Optical Network Terminal

By Technology:

2.5G Pon
XG-Pon
XGS-Pon
NG-PON2

By Application:

Fiber to the Home (FTTH)
Fiber to the Building (FTTB)
Fiber to the Curb (FTTC)
Fiber to the Node (FTTN)
Mobile Backhaul

By Vertical:

Transportation
Telecommunications
Healthcare
Energy & Utilities
Residential (MTU)
Commercial Industries

By Services:

Fixed Internet and Voice
Internet Protocol TV (IPTV)
Mobile Voice and Internet

By Region:

North America
Latin America
Europe
Asia Pacific
The Middle East & Africa (MEA)

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

Have a Look at the Related Reports of the Technology Domain:

Passive Optical Network Market Growth– The global passive optical network market size is likely to be valued at US$ 20,872.2 Million in 2022 and is expected to reach US$ 79,199 Million in 2032. The demand for passive optical networks (PON) is anticipated to grow at a CAGR of 14.3% during the forecast period.

Optical Networking Market Size– Global revenue from optical networking currently stands at around US$ 14 Billion. The global optical networking market is anticipated to progress at a high CAGR of 8.4% to reach a valuation of US$ 24.8 Billion by 2029.

Gigabit Interface Converter Market Analysis– The gigabit interface converter market size is estimated to develop a CAGR of 10.7% from 2023 to 2033. The market is projected to surpass US$ 949.3 million in 2023 and is expected to be valued at US$ 2,631.3 million by 2033.

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Nandini Singh Sawlani

Digital Commerce Platform Market: Anticipated Growth Propels Industry Value to US$ 51.16 Billion by 2033, Fueled by 18.2% CAGR

The global digital commerce platform market is anticipated to grow from a value of US$ 9.61 billion in 2023 to US$ 51.16 billion by 2033, booming at an astounding CAGR of 18.2%.

The usage of a digital commerce platform, also known as an e-commerce platform, is used for conducting online and mobile commerce transactions for the sale and purchase of products and services. Merchants can host and create a digital storefront for a particular set of services or goods using a digital commerce platform. It entails placing an order for digital content that is likely to be consumed immediately online.

Enterprises are investing in innovative digital business models as a result of the growing demand for digital commerce, which is likely to improve the consumer experience. Businesses are making use of social media platforms’ advantages to learn more about their consumers and better serve them by identifying their customers’ satisfaction and dissatisfaction levels. The accessibility and visibility of the consumer experience have changed due to digital commerce.

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Businesses are also modernizing their internal procedures. In the near future, the rising use of smartphones, tablets, and broadband connections is anticipated drive market expansion for digital commerce platforms globally. Throughout the years, cloud computing progressed considerably, which currently delivers considerable savings by cutting the opportunity cost of in-operation technology. As a result, several suppliers have begun to provide cloud services to clients.

Large organizations are benefiting from this trend, thus in recent years, sectors including email marketing service providers, CRM, support, and customer engagement have entirely shifted to the cloud. The emergence of hybrid clouds has elevated cloud services to the status of cutting-edge technology. A cloud computing infrastructure known as a hybrid cloud combines private cloud, on-premises cloud, and public cloud services. As a result, during the forecast period, rising demand for cloud services is anticipated to fuel market expansion.

A centralized platform where customers can browse, buy, discuss experiences, and receive rewards is always in demand. The digital commerce platform satisfies all of the consumer’s criteria. Also, the goal of digital technology is to close the gaps in the consumer purchasing experience. These innovations give customers the smooth shopping experience they want.

Customers are finding the purchasing procedure to be more streamlined because of the freedom to select delivery from a variety of physical and online commerce methods. It is drawing new customers to e-commerce sites. The customer experience is influenced directly or indirectly by the touch points, which are the points at which customers interact with the vendor. The purchasing process is just as important from the customer’s perspective as the points of contact following the transaction.

The adoption of e-commerce platforms in North America is growing at a faster rate because of the existence of key players in the sector and a surge in online business owners in the United States and Canada. Due to these factors, North America is anticipated to have the leading global market for digital commerce platforms throughout the forecast period.

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Key Takeaways from the Digital Commerce Platform Market Report:

The market in the United Kingdom is predicted to rise to exhibit a CAGR of 20.4% through 2033.
The United States is expected to develop at an 18.3% CAGR during the forecast period.
In China, the market is expected to proliferate, registering a CAGR of 21.1% over the forecast period.
Germany is estimated to grow decently registering a CAGR of 18.4% until 2033.
In India, the market is likely to flourish at a CAGR of 22.9% during the forecast period.
With a CAGR of 17.1%, the market in Japan is likely to expand significantly until 2033.

Competitive Landscape:

Key players in the digital commerce platforms market are Shopify Inc., SAP SE, Oracle Corporation, Magento Commerce, Salesforce.com Inc., BigCommerce, WooCommerce, Sitecore, Kentico Software, Unilog Content Solutions Pvt Ltd., and others.

These market players are actively engaged in developing and implementing sophisticated technologies and strategies to enhance their competitive positioning and gain market share. They are also utilizing advanced technologies like blockchain, machine learning, and artificial intelligence to develop creative solutions that simplify the digital commerce experience for both businesses and consumers.

Likewise, they are spending massively on developing omnichannel experiences that are smooth across all platforms, including mobile, in-store, and online. To provide their customers with end-to-end digital commerce solutions, these manufacturers are also enhancing their capacity to deliver a different variety of services.

Recent Developments:

In March 2023, to advance its data management offering, SAP unveiled the SAP Datasphere solution. Access to business-ready data throughout the data environment is made simple for customers.
In January 2023, Shopify introduced Commerce Components by Shopify which is a fresh and integrated stack for business retail, to combine Shopify components with their own systems.

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Key Segments of Digital Commerce Platform Industry Survey

By Component:

Digital Commerce Platform Solutions
- Digital Commerce Platforms
- e-Commerce APIs
Digital Commerce Platform Services
- Design & Implementation
- Consulting
- Support & Maintenance

By Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

By End-use Industry:

Food & Beverages
Fashion & Apparels
Health & Beauty
Electronics
Automotive
Home & Furniture
Media & Entertainment
Others

By Region:

North America Digital Commerce Platform Market
Latin America Digital Commerce Platform Market
Europe Digital Commerce Platform Market
East Asia Digital Commerce Platform Market
South Asia & Pacific Digital Commerce Platform Market
Middle East & Africa (MEA) Digital Commerce Platform Market

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Marketing Transcription Market: Forecasting Remarkable Growth with 8.6% CAGR, Aiming for US$ 4.4 Billion by 2033

The global marketing transcription market is expected to be worth US$ 1.9 billion in 2023. The market is expected to reach US$ 4.4 billion by 2033, growing at an 8.6% CAGR from 2023 to 2033.

Marketing research practice management has changed dramatically in today’s technology-driven world. Advances in speech recognition technologies have fueled the marketing transcription industry. Automatic speech recognition opens up a huge opportunity for quickly transcribing high-quality audio or video recordings that meet evidentiary standards.

Speech recognition converts speech into text by recognizing spoken words. The textual information produced by speech recognition software is analyzed in order to gain useful insights.

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The growing volume of video and audio content necessitates the use of transcription services. Companies in the technology sector are rapidly developing tools that can process data more swiftly and precisely. Transcribers can conserve a significant amount of time and accomplish a greater accuracy rate for audio and video transcription with the help of Artificial Intelligence (AI).

AI applications are created by analyzing millions of previous cases in order to produce accurate results. While technology would never replace humans, it can help transcribers by automating the majority of the transcription work that transcribers must oversee and edit for errors. AI technologies allow transcription companies to gain insight into their data in order to increase efficiency, gain a competitive edge, and expand their business areas.

Key Takeaways from the Marketing Transcription Market Report:

In 2022, Germany had a market share of 8.20%.
The consumer forums segment is expected to grow at a 13.2% CAGR.
The BFSI industry segment dominates the global marketing transcription industry, accounting for 32.6% of total market value by the end of 2022.
During the forecast period, the China market is expected to grow at a 7.60% annual rate.
The United States is the dominant country in the global marketing transcription market, accounting for approximately 59.80% of the market in 2022.

Competitive Landscape:

Leading competitors in the marketing transcription market use new solution introductions and strategic partnerships to increase their earnings. To increase their market share, marketing transcription providers are focusing on software/service innovation.

In September 2021, OOONA collaborated with Captionmax LLC to launch a mobile application that assists project managers and translators with remote work. Users can respond to messages, display dashboards, and verify assignments on their own computers, and they can work on less critical tasks without using a computer.
In September 2020, Nuance Communication Inc. and Microsoft Corp. will release Nuance Dragon Ambient Experience. It is an ambient clinical intelligence (ACI) solution integrated with Microsoft Teams that records virtual patient-doctor meetings in order to generate clinical data that can be used to improve consultation perception.

Leading Key Players:

Synergy Transcription Services
Crimson Interactive Pvt. Ltd
Rev.com
TranscribeMe Inc.
Way With Words Ltd.
Elite Office Solutions, Inc.
GOTRANSCRIPT LTD
e24 Technologies
Voxtab
Digital Nirvana Inc.

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Marketing Transcription Industry Segmentation:

By Solution:

Software
- Audio to Text Converter
- Video to Text Converter
Service
- Audio Transcription Services
- Video Transcription Services
- Custom Transcription Services

By Type:

Consumer Forums
Group Recordings
Phone Recordings
Interviews
Marketing Research
Focus Groups
Others

By Industry:

BFSI
Education
Media & Entertainment
IT & Telecom
Retail & Consumer Goods
Government
Others

By Region:

North America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
Latin America

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IoT for Cold Chain Monitoring Market Set to Soar with a Projected CAGR of 13.9% Towards US$ 23.1 Billion by 2033

The global IoT for cold chain monitoring market was valued at US$ 5.5 billion in 2022. It is expected to experience steady growth, with a projected compound annual growth rate (CAGR) of 13.9% from 2023 to 2033. By 2033, it is anticipated that this market will reach a total value of US$ 23.1 billion.

IoT technologies can utilize data that exists within the physical environment to unlock the business value across the cold chain in the form of brand equity, reduced waste, and return on investments. The web-based platform leverages real-time information from the manufacturing, production, storage, and distribution stages to help companies monitor and manage asset health, temperature, workflow, vehicle location, and environmental data.

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IoT offers a multitude of benefits and has been adopted across diverse industries for cold chain monitoring. According to FMI, the healthcare & pharma segment is estimated to register a CAGR of 16.1% during the forecast period as the medicines and drugs are highly temperature sensitive and need to be stored and transported at consistent temperature levels so the supply chain operators are opting for IoT for a cold chain monitoring solution for storing and transporting pharma products.

Key Takeaways: IoT for Cold Chain Monitoring Market

The global IoT for cold chain monitoring market is estimated to register a CAGR of 13.6% during the forecast period of 2021-2031
The U.S. will continue leading the market, accounting for 86.7% of North America in 2021
The U.K. will remain a key market in Europe, exhibiting 10.8% Y-o-Y growth in 2021
Demand from Germany and France will continue increasing through 2031
While growth exhibited by Japan and South Korea is expected to increase at an accelerated pace, over half of the East Asia market will be accounted for by China through the forecast period

COVID-19 Impact Analysis on IoT for Cold Chain Monitoring Market:

As the world is struggling with the COVID-19 pandemic, cold storage companies are working to ensure that there are enough fresh products to buy. Due to COVID-19 the adoption of IoT sensors for cold chain monitoring is increasing the sensors help to collect, and analyze light, humidity, and temperature as well as send notifications with location details if any issue arises.

Cold chain management has emerged as a crucial factor during the pandemic. As governments and other entities have started COVID-19 vaccine distribution the demand is increased for cold chain monitoring. Cold chain management maintains the necessary refrigeration levels of temperature-sensitive coronavirus vaccine across manufacturing, transportation, storage, and distribution processes.

Adoption of IoT Technology is Driving the Market Growth

IoT adoption is increasing in response to the increasing awareness regarding the use of IoT in business and the benefits of using IoT technologies is increasing. In emerging countries, governments are announcing the plan to set up an IoT institute for developing IoT in automation, robotics, healthcare, and other industries as smartphone usage is increasing and there is the availability of a strong network of fourth-generation broadband and data centers.

The adoption of IoT will increase in various industries for different purposes as the adoption of IoT in cold chain monitoring will help companies to monitor and manage the products and prevent them from damage.

Leading Key Players:

Huawei Technologies
Aeris Communication
HC Technologies
SenseGiz Inc.
Zebra Technologies
TE Connectivity
Moschip Technologies Limited
Laird Connectivity
Roambe Corporation
Cisco Systems Inc.

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IoT for Cold Chain Monitoring Market Segmentation:

By Component:

Hardware
- IoT Temperature/Humidity Sensors
- Data Logger
- Others
Software
Services
- Integration & Installation
- Consulting
- Support & Maintenance

By Enterprise Size:

SMEs
Large Enterprises

By Industry:

Healthcare & Pharma
Retail & CPG
Food & Beverage
Chemicals
Others

By Region:

North America
Europe
Asia-Pacific
Middle East & Africa
Latin America

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3D Motion Capture Market Set to Surge, Predicted to Reach US$ 1,165.1 Million by 2033 with an 11.9% CAGR

In 2023, the 3D motion capture market is estimated to be generated US$ 377.3 million. By 2033, the 3D motion capture market is anticipated to reach US$ 1,165.1 million, expanding at a CAGR of 11.9% from 2023 to 2033.

The growing demand for real-time data with high temporal accuracy for motion capture to spur significant market expansion. The movement of people, things, and objects is captured via 3D motion capture and later transformed into usable data to produce a 3D view.

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Live Concerts and Broadcast Boosts the Market

3D motion capture systems adoption for broadcast, live shows, and gaming has grown as technology becomes a standard component of contemporary filmmaking and entertainment. Real-time 3D motion capture systems are simple and quick to use when developing and animating new characters. Games, movies, media, and other forms of entertainment are popular 3D motion capture applications.

An Upward Trend in Interest in Professional 3D Animations

Three-dimensional (3D) animation refers to the motion and rotation of objects that appear in three dimensions. The main driver of the 3D motion capture market growth is the rise in demand for high-quality 3D animations.

The demand for computer vision technologies is increasing as a result of technological advancements. The 3D motion capture market expansion is driven by real-time data with extraordinary spatial and temporal accuracy.

High-end Processors are Required for Seamless Content Capture

A method of capturing the motions of humans, animals, and object is 3D motion. It takes a lot of time and a computer system capable of handling large amounts of data to record motions, process data, and acquires data.

For smooth content capture, the current systems, such as the central processing unit and graphic processing unit, are not truly up to the task. The 3D motion capture manufacturers likely face significant challenges due to the rising demand for high-end CPUs.

Regional Insights for 3D Motion Capture Systems

The 3D motion capture industry is anticipated to be dominated by North America. According to projections, economies stimulate growth in Asia Pacific. Demand in North America is being driven by the expanding adoption of 3D body motion tracking in the entertainment and advertising sectors.

The demand for 3D motion capture systems, and the integration of graphics software to improve workflow and reduce animation render times are driven by the media and entertainment industries in the United States. Video game companies have a high acceptance rate for 3D motion capture technology since it speeds up post-production.

Demand is expected to be stimulated by the extensive use of 3D technology in the United States media and entertainment sectors. Having 3D motion capture service providers accelerate 3D motion capture market expansion within the anticipated time frame.

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Key Takeaways from the 3D Motion Capture Market Report:

North America 3D motion capture market is estimated to account for 33.1% of the market share by 2033.
Europe to grab a market share of 21.4% between 2023 and 2033.
During the anticipated period, the United States is expected to gain a 3D motion capture market share of 29.1%.
From the years 2023 to 2033, Germany to take 9.3% of the market share.
Between 2023 and 2033, Japan may gain a market share of 6.5%.
During the anticipated timeframe, Australia may gain a 4.3% market share.
China’s 3D motion capture market is projected to expand at a CAGR of 12.3% between 2023 and 2033.
India’s 3D motion capture market is likely to register a CAGR of 19.7% from 2023 to 2033.
The United Kingdom 3D motion capture market is expected to record a CAGR of 11.4% during the forecast period.
The optical 3D motion capture systems segment in the system category is expected to hold a market share of 63.7% from 2023 to 2033.
By component category, the 3D motion capture hardware segment to gain a market share of 44.4% between 2023 and 2033.

Leading Key Players:

Xsens
Vicon Motion Systems Ltd.
PTI Phoenix Technologies Inc.
Qualisys AB
Motion Analysis
Codamotion
OptiTrack (NaturalPoint Inc.)
Noitom Ltd.
Tracklab (Organic Motion)
IKINEMA
Rokoko

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Key Segments of the Industry

By System:

Optical 3D Motion Capture Systems
Non-optical 3D Motion Capture Systems

By Component:

Hardware
Software
Services

By Application:

Media and Entertainment
- Gaming
- Film Production and Advertising
- Live Performances, Shows, and Stage Productions
- Broadcast
Biomechanical Research and Medical
- Sports Science
- Neurology, Psychology, Rehabilitation, and Posture Analysis
- Animal Science
- Clinical Gait Analysis
- MRI and Surgery
Engineering Design and Industrial Applications
- Unmanned Systems and Robotics
- Ergonomics
- Aerodynamics
- Military Training
- Marine and Underwater
Education
Automotive
Manufacturing
BFSI
IT and Telecommunication
Retail and Wholesale
Travel and Hospitality
Others

By Region:

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

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Identity & Access Management Market: Anticipated Surge with a 13.1% CAGR, Forecasting US$ 49.3 Billion by 2033

The identity & access management market size is projected to be valued at US$ 14.4 billion in 2023 and is expected to rise to US$ 49.3 billion by 2033. The sales of identity & access management are expected to record a CAGR of 13.1% during the forecast period.

Identity & access management market is highly fragmented with suppliers due to its large clientele and its cost-effectiveness. The increased desire for technological advancements, as well as emerging trends like bring your own device (BYOD) and identity management tools, will increase buyer power even more. As a result of these industry trends, the market has seen a steady increase in spending on security solutions and enterprise mobility.

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As old cost structures are now being replaced by appealing pricing offers such as usage-based pricing and subscription pricing to IAM solutions and services, various SMEs are expected to participate in these initiatives.

A surge in web-based software, and asset management services including policy-based adherence and audit management, as well as cost-cutting initiatives, are driving IAM demand.

Scope and Scale of Identity Access Management May Continue to Expand in Tandem with the Increasing Complexity of Cyber-attacks Around the World

Key Takeaways from the Identity & Access Management Market Report:

The on-premise segment is highly deployed across various large enterprises and witnessing a strong growth of 7.5%, owing to its capacity to provide constant, secure access to a wide range of applications.
Large enterprises are highly adopting IAM solutions among other end users and showing a growth trajectory of 9.0%. This is due to the rapid expansion of user bases and the resulting increase in demand for advanced tools to protect sensitive user data.
United States market holds a significant share of the market (40%) owing to well-developed technological infrastructure, an increase in cyberattacks as a result of the high internet penetration and rising demand for data security and cybersecurity management.
Europe is one of the market’s leading revenue regions growing at a rate of 10.1%. The General Data Protection Regulation (GDPR) requirements of the European Union drive the need for IAM solutions to comply with European regulations.
South Korea is the one of the opportunistic market among other regions showing a growth of 16.1%. The region’s rapid digital transformation is expected to increase demand for IT and security solutions, particularly access management solutions.

Manufacturers are Driving their Attention Towards Innovative Solutions

Market players are investing in advanced technologies such as cloud computing, artificial intelligence, and machine learning to improve the capabilities of IAM solutions. Furthermore, in order to increase their market presence, the key players are engaged in numerous strategic developments, such as product launches.

As an example: In May 2022, Microsoft introduced Entra, a new product family of security solutions. Entra is designed to secure access to any resource or application by enabling security teams to manage and discover authorizations in multi-cloud environments, allowing them to secure digital characteristics from start to finish.

In January 2022, Alcor, a cloud solution provider, launched AccessFlow, an access management product. It is a self-service automated enterprise access management solution built on the ServiceNow platform that assists businesses in achieving centralized, automated, and compliant access management.

Leading Key Players:

Microsoft
IBM
Oracle
Broadcom
Salesforce
Ping
Identity
Okta
HID
Global
ForgeRock
CyberArk

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Identity & Access Management Market Segmentation:

By Component:

IAM Solutions
- Multi-Factor Authentication
- Single Sing-in
- Access Security
- Directory Management
OIAM Services
- Consulting Services
- Integration and Deployment Services
- Maintenance and Support Services

By Deployment:

IAM On-premise
Cloud-native IAM

By End User:

IAM for Small and Medium Enterprises (SMEs)
IAM for Large Enterprises

By Vertical:

Finance and Insurance
Information (Telecom and IT)
Military & Defence
Scientific and Technical Services
Health Care and Social Assistance
Transportation and Warehousing
Media and Entertainment
Manufacturing’

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

Authored By:

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Industrial Chain Drives Market Value Rising to US$ 6.5 billion by 2033

Industrial chain drives, the unsung heroes of countless machines, are experiencing steady growth. They transmit power and motion efficiently across a wide range of applications. Let’s delve into the current landscape of the industrial chain drives market, explore exciting opportunities for manufacturers, and peek into the promising future of this essential sector.

Current Scenario:

The global industrial chain drives market is projected to reach over USD 13.2 billion by 2032, with a CAGR exceeding 3.7% [1]. This growth is fueled by several key factors:

Rising Industrial Automation: Increased adoption of automation in manufacturing and processing industries necessitates reliable and efficient power transmission solutions, driving demand for industrial chain drives.
Expansion of Manufacturing Hubs: Growth in emerging economies, particularly in Asia Pacific, leads to the establishment of new factories that require robust power transmission systems, boosting the market.
Focus on Maintenance and Upgrades: As existing industrial infrastructure ages, there’s a growing need for replacement and upgrade of chain drives to ensure smooth operation and prevent downtime.
Demand for High-Performance Materials: Advancements in materials science are leading to the development of stronger, lighter, and more corrosion-resistant chain drive components, catering to demanding industrial applications.

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Beyond Roller Chains: A Diverse Market

Dominant Chain Drive Types: Roller chains are the most widely used type, offering a balance of efficiency, durability, and versatility.
Specialty Chain Drives: Other types include silent chains for noise reduction, self-lubricating chains for minimal maintenance, and timing chains for precise synchronization in engines.

Opportunities for Manufacturers: Forging a Strong Link

Innovation in Materials: Develop chain drives using advanced materials like high-strength steel, engineered plastics, and wear-resistant coatings for extended life and improved performance.
Focus on Efficiency and Sustainability: Design chain drives with low friction coefficients and energy-saving features to reduce operational costs and environmental impact.
Industry-Specific Solutions: Develop specialized chain drives that cater to the unique needs of different industries, such as food processing, oil and gas, and automotive manufacturing.
Embrace Customization: Offer customizable chain drive solutions to meet specific application requirements and ensure optimal performance in diverse operating environments.
Data-Driven Design: Leverage data analytics to optimize chain drive designs for better load capacity, wear resistance, and lifespan.

Future Scope: A Brightly Linked Horizon

Smart Chain Drives: Integration of sensors and internet-of-things (IoT) technologies for real-time monitoring of chain drive performance, enabling predictive maintenance and preventing downtime.
Self-Lubricating Technologies: Develop self-lubricating chain drives that minimize maintenance requirements and extend operating life.
Focus on Sustainability: Develop eco-friendly chain drives made from recycled materials and with improved energy efficiency, contributing to a greener industrial ecosystem.
3D Printing Technologies: Advancements in 3D printing could enable the creation of custom-designed chain drives for niche applications.

Challenges and Considerations

- Counterfeit Products: The presence of low-quality counterfeit chain drives can pose safety risks and damage equipment. Manufacturers need robust brand protection strategies and user education initiatives.
- Standardization and Regulations: Navigating the diverse range of regional and international standards for chain drives can be complex. Manufacturers need to ensure their products comply with relevant regulations for each target market.
- Fluctuations in Raw Material Prices: The cost of raw materials used in chain drive production can fluctuate, impacting manufacturing costs. Diversification of suppliers and hedging strategies can help mitigate this risk.

Ethoxylates Market Growth Surpasses Expectations: Reaches US$ 17.4 Billion in 2033

The global Ethoxylates industry size is valued at USD 12.1 billion in 2022 and it is anticipated to achieve a market valuation of USD 12.7 billion in 2023. It is expected to reach a market valuation of USD 17.4 billion by the end of the forecast period while exhibiting a CAGR of 3.2%.

Ethoxylates are utilized across a broad range of applications such as lubricants, cosmetics, soaps & detergents, cleaning chemicals, and solvents. Product consumption in the home & personal care sector is increasing constantly owing to attributes such as rapid surface-wetting, excellent detergency, and low-foaming properties.

The financial stability of the middle class has also increased spending ability for high-quality personal care products. Growing consumer demand for cosmetics, in addition to rising disposable income, will increase the adoption of ethoxylates in the coming years.

The market is expected to be driven by the consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning. The product is extensively used as a foaming and wetting agent in detergent and cosmetic product formulations.

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Key Takeaways from the Market Study

Europe will account for the highest revenue generator in the Ethoxylates market during the forecast period.
Asia Pacific is anticipated to be the fastest-growing region while exhibiting a CAGR of 4.5% by 2033.
By product type, Alcohol ethoxylates will dominate the segment while registering the highest CAGR.
The Alcohol ethoxylates segment is anticipated to be worth USD 13.1 billion by the end of 2033.
By Application type, household, and personal care is expected to dominate the segment during the forecast period.
The demand and consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning will drive the ethoxylates market.

“The market’s expansion may be linked to a paradigm shift toward workflows and process automation across a wide range of businesses and industrial verticals. Enterprises all over the world are eager to embrace effective and smooth business processes that can be executed regardless of location, which is propelling this industry ahead.”comments a Future Market Insights analyst.

Competitive Landscape

The global ethoxylates market is consolidated with few large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements, and contracts, developing testing, and introducing more effective ethoxylates solutions.

Some of the major companies included in the global ethoxylates market report are-

Dow Chemical Company
BASF
Royal Dutch Shell PLC
Petroliam Nasional Berhad
Ecogreen Oleochemicals
PT Polychem Indonesia Tbk
Stepan Company
Clariant
Sasol Limited
India Glycols Ltd
Ineos Group Ltd.
Solvay
Oxiteno
Galaxy Surfactants
Nouryon
SABIC
Evonik
Mitsui Chemicals Inc.
PCC Exol
Arkema Group

Some of the recent key developments among key players are:

On 26 May 2022, BASF, which is a Germany-based chemical company announced the BASF hub program in collaboration with AHK Romania. The hub will bring together start-ups and innovators from 11 central and southeast European nations, including Romania. The project’s objective is to serve as a launching pad for new businesses, promoting the best ideas and providing financial assistance.
On 12 May 2022, Royal Dutch Shell, a UK-based oil, and gas chemical signed an agreement with Lukoil to sell lubricants and retail businesses in Russia. The deal includes 411 retail stations mostly in Russia’s northwestern and central regions as well as the lubricants lending factory in Torzhok, located around 200 kilometers north of Moscow. The purchase of the shell’s high-quality business in Russia is in line with LUKOIL’s goal to expand its key sales channels, including retail and the lubricant business.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global ethoxylates market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

Key Segments Profiled in the Ethoxylates Market Survey

Ethoxylates Market by Application:

Household and Personal Care
- Laundry & Dishwashing Detergent
- Industrial & Institutional Cleaning
- Personal Care
Agrochemicals
- Herbicides
- Fungicides
- Insecticides
Oil and Gas
- Foam-Control & Wetting Agents
- Lubricants & Emulsifiers
Pharmaceuticals
Other Applications

Ethoxylates Market by Product:

Alcohol
- Natural Alcohol Ethoxylates
- Synthetic Alcohol Ethoxylates
Fatty Amine
Fatty Acid
Methyl Ester
Glyceride

Ethoxylates Market by Region:

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

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