Market Research Blog – Page 3440 – New Product Development

Cloud Encryption Market Predicted to Reach US$ 45.6 Billion by 2033, Surging with a Staggering 30.8% CAGR

The global revenue for cloud encryption market reached a substantial sum of US$ 3.1 billion in 2023, Anticipating strong growth, with a CAGR of 30.8% projected over the forecasted period, the cloud encryption market is poised to reach an impressive US$ 45.6 billion by the year 2033.

The cloud encryption market currently accounts for around 4.5% of the total cloud security market. With the advent of technologies and the increase in the adoption of cloud, cyber criminals are using sophisticated attacking tools to launch voluminous cyberattacks that disrupt businesses.

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The growing need to store data in public and private cloud-based storage is spurring demand in the market. Also, the pandemic forced organizations to adopt remote work, which increased the use of digital technologies and online data sharing. This has resulted in an exponential rise in cyber breaches like ransomware, malware attacks, and phishing.

As a result, enterprises are adopting cloud encryption to safeguard their sensitive data from data breaches and cyberattacks. Cloud encryption encodes the data by converting the plain text data into cipher text, which is unreadable by malicious users, thereby preventing data breaches. It provides enterprises with automated security, reduced complexity, and risk reduction by offering built-in security controls and continuous protection.

Increasing data volumes have driven the adoption of big data analytics across companies which is capable of processing and analyzing results of big data and providing descriptive, predictive, and prescriptive results. But one of the biggest issues is how to gain perfect security for big data.

The growth of big data has been aided by cloud computing and cloud data stores. Businesses can obtain superior insights from their enormous amount of structured and unstructured data by adopting Big Data analytics in the cloud. Companies handle large amounts of data and leverage the cloud to perform analytics and keep it confidential.

With the increase in data saved in the cloud storage server, hackers try to access confidential data using organizational cloud servers with the help of different decoding techniques. Hence, the use of advanced cloud encryption software by organizations has increased to achieve semantic security.

Key Takeaways from the Cloud Encryption Market Report:

By component, the solution segment is anticipated to expand at a 32% CAGR through 2032.
By service model, the infrastructure as a service (IaaS) segment is estimated to grow by 17.8X during the forecast period.
Based on enterprise size, SMEs segment is estimated to grow by 16.8X during the assessment period.
In terms of industry, sales in the IT & telecom segment are anticipated to increase at a CAGR of 36.5% between 2022 & 2032.
The U.S. id projected to hold 71.5% of the North America cloud encryption market share by 2032.
Indonesia will emerge as a lucrative pocket, with sales growing at a 43.2% CAGR through 2032.

Competitive Landscape:

Players in the cloud encryption market are focusing on a variety of strategies, including research and development and investments to support future technologies. In addition to this, players are pursuing inorganic growth strategies such as acquisitions and partnerships with other companies to develop their own cloud encryption to reduce the churn rate.

For instance:

In March 2022, IBM introduced the first cloud service in the industry to execute key management to assist businesses in protecting data across multiple clouds. This will help the enterprises to reduce the risk of cyber-attacks.

Leading Key Players:

IBM
Sophos Group plc
Thales Group
Skyhigh Security
Microsoft
Netskope Inc
Lookout
Cisco Systems, Inc
Micro Focus International plc
Atos
Hitachi Solutions, Ltd
Hewlett Packard Enterprise
NortonLifeLock
Trend Micro
TWD Industries
Dell Technologies
WinMagic

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Cloud Encryption Market Segmentation:

By Component:

Cloud Encryption Solution
Services
- Professional Service
  - Support and Maintenance
  - Training and Education
  - Planning and Consulting
- Managed services

By Service Model:

Infrastructure-as-a-Service (IaaS)
Software-as-a-Service (SaaS)
Platform-as-a-Service (PaaS)

By Enterprise Size:

Large Enterprises
Small and Mid-sized Enterprises (SMEs)

By Industry:

BFSI
Healthcare
IT & Telecom
Government
Aerospace and Defense
Retail
Others

By Region:

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

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Partner Relationship Management (PRM) Market Growth Forecast Indicates Substantial Expansion, Eyeing US$ 4,676.1 Million by 2033

The partner relationship management (PRM) market revenue totaled US$ 1,302.7 million in 2023. It is anticipated that the PRM market will experience significant growth, reaching a total of US$ 4,676.1 million by 2033. This growth is projected to occur at a CAGR of 13.6% from 2023 to 2033.

The partner relationship management (PRM) market currently represents around 8.5% of sales of the total business process management market. PRM software is gaining immense popularity over the past few years owing to increasing demand and deployment of technologies such as business intelligence (BI) and artificial intelligence (AI).

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South Asia & Pacific is estimated to be the fastest-growing region in the partner relationship management market during the forecast period. This region is expected to grow by 3.3X from 2023 to 2033.

Key Takeaways from the Partner Relationship Management (PRM) Market Report:

By type, the integrated software segment is anticipated to account for the leading share in the global demand for partner relationship management during the forecast period.
The standalone software segment is estimated to grow at a robust CAGR of 14.2% through 2032.
Among the enterprise size, SMEs segment is estimated to grow by 4.1X during the forecast period.
By industry, the BFSI segment is anticipated to increase at a CAGR of 15.7% between 2022 & 2032.
North America is expected to dominate partner relationship management market followed by Europe in 2022.
South Asia & Pacific is estimated as the fastest growing region during the forecast period.
The U.S. market is expected to progress at a CAGR of around 11.1% through 2032.
In India, the partner relationship management market is expected to grow by 5.1X during the forecast period.
The partner relationship management market in China is estimated to witness an absolute $ opportunity of US$ 2,56.4 Million in the forecast period.

Competitive Landscape:

Partner relationship management market players are concentrating on a variety of techniques for boosting product innovation, enhancement of existing products, and increasing their presence in new geographic areas.

In January 2022, Kiflo announced its new update called the honey bee release. The new update offers customized dashboards for various partners, principal tools for lucrative onboarding, organization and many more.
In July 2021, Zinfi technologies announced its new launch of advanced capabilities for channel organizations making partner relationship management productive while being easier.

Leading Key Players:

Oracle Corporation
Sharework
Appdirect
Kiflo
Webinfinity
Salesforce Inc
Zift Solutions
ChannelXperts
Creatio
PartnerStack
Mindmatrix
Agentics
Magnetrix Corporation
Allbound Inc
Zinfi Technologies

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Partner Relationship Management Market Segmentation:

By Type:

Integrated Software
Standalone Software

By Deployment Mode:

On-premise PRM Software
Cloud-based PRM Software

By Enterprise Size:

Small and Mid-Sized Enterprises (SMEs)
Large Enterprises

By Industry:

IT & Telecom
Retail
Government
Healthcare
BFSI
Manufacturing
Others

By Region:

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

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European Union Tourism Market Targets US$ 1262.97 Billion Milestone with 8% CAGR by 2032 | FMI

The European union tourism market whose worth, as of 2022, was US$ 585 Billion, is anticipated to rise at a CAGR of 8%, with a target valuation of US$ 1262.97 Billion by 2032.

Considered to be a destination for travelers of any kind, and beautified with some glorious places, the European Union tourism market is expected to increase.

The European Union is one of the most loved tourist destinations and is meant for its historical places. The beaches in this region are clean.

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Moreover, if we talk about countries per se, there are huge number of countries to visit in the European Union. The region is home to some of the most beautiful mountains, and the diverse culture amongst various nations makes the entire region lively.

Not only that, the European Union also contains certain ‘Wonders of the World’ which makes the region a popular holiday destination.

What are the Current Market Dynamics pertaining to European Union Tourism Market?

The European Union is synonymous to some of the most beautiful buildings, and towers. If we talk about towers, France is the country which immediately comes to our mind. It is the home to one of the wonders of the world, which is ‘Eiffel Tower’.

The Eiffel tower is a major tourist attraction, and the tourists from across the world visit France to get a glimpse of Eiffel Tower, which was built for the purpose of celebrating French revolution. The Eiffel Tower is made up of wrought iron.

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The Loire Valley in France is famous historical towns and castles. The place is famous for picturesque landscape.

Key Players

Topdeck
The Natural Adventure Company
G Adventures
Intrepid
Trafalgar
GJ Travel
Shamrocker Adventures
Exodus Travel
On Go tours
Tauck
Tuckan.

Key Segments Profiled in the European Union Tourism Market Survey

By Booking Channel:

Phone booking
Online booking
In person booking

By Consumer Orientation:

Men
Women
Children

By Age group:

15-25 years
26-35 years
36-45 years
46-55 years
56-65 years
66-75 years

By Tour type:

Independent traveller
Tour Group
Package Traveller

By Tourist Type:

Domestic
International

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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VPN Software Market Gears Up for Promising Growth, Anticipates 14.1% CAGR Towards US$ 7.2 Billion by 2033

The global VPN software market is expected to reach a value of US$ 1.7 billion in the year 2023. This market is anticipated to continue expanding at a steady rate of 14.1% annually, eventually reaching a total worth of US$ 7.2 billion by the year 2033.

VPN software is being adopted by businesses across the globe to provide remote workers with secure and reliable access to organizational systems. Internet users increasingly rely on virtual private network (VPN) software and services to preserve their circumvent censorship, privacy, and access to geo-filtered content.

A Virtual Private Network (VPN) is a way to extend a private network through a public network such as the internet. VPN software providers are majorly focusing on two solutions such as IPSec (IP Security Protocol) and OpenVPN that improve network security and scalability.

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Virtual private network (VPN) software in particular plays an integral role in securing high-performance internet freedom. Growing mobile and cloud applications is one of the key drivers of the global VPN software market.

With rising number of VPN cloud applications and VPN services used by enterprises, companies are exploring applications that can be integrated into existing IT infrastructure rather than investing in entirely new infrastructure and components. It also offers various benefits such as the breadth of access and extended global reach, flexibility, resiliency, security, proactive management and reporting, and service agility.

With the advancement of internet and multimedia computer technologies, virtual classrooms have appropriate technical support. In remote virtual classrooms, VPN software is being used to modify traditional ways of education and introduce fundamental changes in learning and teaching methods.

Remote access VPNs and site-to-site VPNs are the two basic types of VPN connectivity. VPN software offers a wide range of benefits such as secure and fast connections, real-time control of 3G charges, one-click operation, easy administration, and high profitability through low operation costs.

Remote-access VPNs allow individual remote users to connect to a remote network such as roaming students connecting to their campus intranet. Increasing demand for virtual classroom-related technology, along with growing need for remote access VPN in institutes for education will augment the growth in the market.

Key Takeaways from the VPN Software Market Report:

By deployment mode, demand in the cloud-based VPN software segment is anticipated to increase at a CAGR of 15.5% between 2022 & 2032.
By enterprise size, the large enterprises segment is anticipated to account for a dominant share of the global VPN software during the forecast period.
By application, the service provider segment is estimated to grow 5.7X during the forecast period
By industry, the adoption of VPN software in the BFSI segment is anticipated to increase at a CAGR of 18.0% between 2022 & 2032.
Total sales of VPN software in the U.S. are expected to hold 80.3% of the North America market share by 2032.
In India, demand for VPN software is expected to grow 6.9X by 2032.
The VPN software market in China is estimated to create an absolute opportunity of US$ 408.5 Mn over the forecast period.

Competitive Landscape

Key players are developing new technologies such as advanced VPN solutions and cloud computing platforms for providing secure access to remote users. Remote access and site-to-site VPN connectivity will create attractive opportunities for the VPN software market players.

Key Players:

Cisco Systems, Inc.
GZ Systems Ltd.
Nord Security
CactusVPN
NCP Engineering GmbH
Netgear Inc.
Huawei Technologies Co., Ltd.
Array Networks, Inc.
Microsoft Corporation
Virtela
Robustel
Singtel
Oracle Corporation
Contemporary Controls
Sophos

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More Valuable Insights on VPN Software Market

FMI’s report on the VPN software industry research is segmented into five major sections – deployment mode (on-premise VPN software, and cloud-based VPN software) enterprise size (small and medium-sized enterprises (SMEs), large enterprises), application (consumer, commercial, and service provider), industry (IT & telecom, retail, government, healthcare, BFSI, manufacturing, 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 VPN software demand outlook.

VPN Software Market Segmentation:

By Deployment Mode:

On-premise VPN Software
Cloud-based VPN Software

By Enterprise Size:

Small and Medium-sized Enterprises (SMEs)
Large Enterprises

By Application:

Consumer
Commercial
Service Provider

By Industry:

IT & Telecom
Retail
Government
Healthcare
BFSI
Manufacturing
Others

By Region:

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

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Network Forensics Market: A Lucrative Realm Poised for Growth with a Projected Valuation of US$ 8.9 Billion by 2032

The network forensics market, which involves investigating and analyzing digital network activities, is projected to expand substantially, reaching a whopping $8.9 billion by the year 2032. This growth is anticipated to occur at a noteworthy rate of 12.5% annually between 2022 and 2032. In simpler terms, more and more businesses and organizations are expected to invest in tools and services for examining network data to enhance their cybersecurity and understand network-related incidents, leading to this substantial market expansion.

More and more, companies are using advanced technology like AI, machine learning, and data analysis to better understand and manage their computer networks. This is happening because cyberattacks are becoming more common, and more people are using the internet, which is expected to make the market for network investigations and analysis grow.

Government rules and the expansion of computer networks are also going to boost this market. Companies are providing a wide variety of services for all sorts of applications to help businesses in both growing and established markets succeed.

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Increasing data thefts and cyber-attacks across companies, increased network traffic, and increased demand for cloud-based network forensics solutions are some of the reasons driving the growth of the network forensics market development.
Some of the constraints that are predicted to stymie network forensics market expansion include a shortage of qualified knowledge and a lack of infrastructure to store all of the data packets.

Due to technological improvements, network traffic is likely to rise even more in the next years. Heavy data flow and complicated systems make the examination process time-consuming when attempting to gain a better understanding of the systems.

The banking industry is quickly adopting digital apps and more people are using digital payments. This could lead to some exciting opportunities in the near future. One example of this potential is how companies are using network management solutions to make their business run better.

Asia had the most internet users in 2021, making up about 51.8% of all users around the world. And because technology is getting better, we expect even more people to use the internet in the coming years, which means there will be more online activity.

When there’s a ton of data moving around and complex systems to study, it can be really tough to investigate things. In the coming years, the network forensics field will be more important because we’ll need to better protect our networks from advanced attacks and cut down on network-related crimes.

Key Takeaways from Network Forensics Market Report:

The market size for network forensics in the United States is expected to reach US$ 2 Billion by 2032, growing at a CAGR of 10.2% during the research projected
United Kingdom is expected to reach a market size of US$ 613 Million in network forensics by 2032, with a CAGR of 12.2% during the research projected
China’s network forensics market is expected to be worth US$ 884.5 Million by 2032, with a CAGR of 16.3% over the forecast period.
Japan is expected to have a market size for network forensics of US$ 258.8 Million by 2032, with a CAGR of 10.5% during the research period.
By 2032, India is expected to reach a market size of US$ 727.3 Million in network forensics, with a CAGR of 16.3% during the research period.
In the deployment sector, on-premise from the network forensics market is anticipated to flourish at the quickest CAGR of 9.2% through 2032.
With a CAGR of 12.3%, the software is predicted to grow significantly in the specific component sector of the network forensics market.

Key Players in Network Forensics Market:

IBM Corporation
RSA Security
Symantec Corporation
FireEye
NETSCOUT Systems

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Network Forensics Market Segmentation:

By Component:

Hardware
Software
Service

By Deployment Type:

On-Cloud
Premises

End Use Industry:

BFSI,
Telecom and IT
Government
Education
Healthcare
Retail
Others

By Region:

North America
South America
Europe
Asia Pacific
Middle East & Africa

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Die Casting Services Market Set for Steady Growth: Approximate 10.0% CAGR Expected by 2033

According to Future Market Insights, the die casting services market is estimated to be valued at US$ 45,907.9 million in 2023. It is projected to grow to US$ 118,498.6 million by 2033, experiencing an approximate compound annual growth rate (CAGR) of 10.0% from 2023 to 2033.

The demand for lightweight materials spikes along with the increasing implementation of die casting technology in other market domains such as automotive, aerospace, medical and consumer electronics leads to rather optimistic forecasts.

As the demands for lightweight material in different industries grows, die casting services also increase because it is very effective and efficient in providing complex shaped designs with high precision. The increasing need for aluminum die casting services in the industrial sector can be explained by the fact that it is stronger but lighter and this has made many manufacturers become more interested in using them to produce automotive and aeronautic components.

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The trend is expected to continue during the forecast period, with the use of aluminum projected to grow in various industries. This presents an opportunity for companies looking to enter the market to offer innovative solutions that cater to the growing demand for lightweight materials.

Zinc die casting services are gaining popularity in various industries such as automotive, electronics, and healthcare due to their unique properties, such as excellent corrosion resistance. Additionally, the use of alloy die casting services is becoming increasingly popular in the manufacturing industry due to their increased strength, durability, and resistance to corrosion. This presents an opportunity for companies looking to enter the market to provide innovative solutions that cater to the growing demand for these materials. By offering specialized services and solutions that meet the needs of these industries, companies can gain a competitive edge in the market.

Die casting manufacturers are transforming the industry by offering a range of services from design and prototyping to finishing and assembly. The presence of a large number of die casting manufacturers in the market is driving growth, with manufacturers vying for customers’ attention by offering innovative solutions and excellent customer service. Companies looking to enter the market can differentiate themselves by offering a one-stop solution for their customers’ die casting needs. This can be achieved by investing in cutting-edge technology and expertise that can cater to the diverse needs of different industries.

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Key Takeaways from the Die Casting Services Market:

With an 89.5% share in 2022, the United States dominated North America’s die casting services industry.
Germany dominated the die casting services industry across Europe, accounting for 26.3% of the market.
With a 46.5% market share in 2022, India is a promising market for die casting services in South Asia.
The automobile industry accounts for 54.8% of the die casting services industry.
High pressure die casting (HPDC) held a 44.3% of the die casting services industry in 2022.

What is the Competition Outlook of the Die Casting Services Market?

The die casting services industry is highly competitive, with numerous global players vying for market dominance.
Key players in the market include Dynacast, Endurance Technologies Limited, Gibbs Die Casting Group, and Ryobi Die Casting Inc.
These companies continuously innovate and expand their product portfolios to maintain a competitive edge.
Intense competition drives manufacturers to develop new products and invest in research and development activities.
Expansion into emerging markets is a common strategy among die casting service providers to capitalize on new opportunities and expand their market presence.
High initial investment for establishing die casting facilities poses a significant challenge for market players.
There is a growing demand for eco-friendly manufacturing processes within the industry.
To address sustainability concerns, companies invest in sustainable manufacturing practices and explore new materials for eco-friendly product manufacturing.
Consolidation activities, such as mergers and acquisitions, are prevalent in the market as companies seek to achieve economies of scale and bolster their market positions.
This trend of consolidation is expected to persist as companies aim to enhance their competitiveness and market share.

Key Companies Profiled

Spark Minda
Ryobi Limited
Linamar Corporation
Kuusakoski Group
NEMAK
Form Technologies
Expromet Technologies Group Limited
MRT Castings Ltd
Handtmann Group of Companies
Carlton Die Castings Ltd

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Global Die Casting Services Market By Category

By Product Type

High Pressure
Low Pressure
Gravity

By Application

Telecoms
Consumer Goods
Automotive
Electronics
Aerospace and Defense
Others

By Region

North America
Latin America
Europe
East Asia
South Asia
Oceania

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Payment Processing Solution Market Projects 9.9% CAGR, Set to Reach US$ 231.7 Billion by 2032

The global payment processing solutions market is expected to secure US$ 231.7 Billion while exhibiting a CAGR of 9.9% during the forecast period from 2022 to 2032. The growing application of smartphones and increasing internet penetration across the globe are expected to play a significant role in driving the market in the forecast period.

Moreover, various countries; such as India, France, and others, take favorable initiatives, which are expected to strengthen the market during the forecast period. The Indian government introduced the Unified Payments Interface (UPI) to smoothen digital payments nationwide. Similarly, the French National Cashless Payments Committee was established in 2015 to promote contactless payments.

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With rising financial inclusion across the globe, the market is likely to witness significant opportunities for market growth. According to the Reserve Bank of India, India’s Financial Inclusion Index was 53.9 by the end of March 2021. The expanding financial inclusion across emerging economies is expected to augment the market size in the forecast period.

North America is expected to dominate the global market owing to the rapid technical development in the region. The rapid technological development and the growing popularity of online payment systems are expected to provide a significant boost to the market.

Key Takeaways from the Payment Processing Solutions Market Report:

The global payment processing solutions market to secure US$ 90.4 Billion in 2022
The global payment processing solutions market is expected to exhibit a CAGR of 9.9% from 2022- to 2032
By payment method, the credit card segment is projected to expand at a CAGR of 9.3% during the forecast period
The U.S. market to value US$ 75.1 Bn by 2032
Market in China to grow by 8.6% CAGR from 2022- to 2032
The U. K market to hold a value of US$ 10.3 Bn by 2032
By mode of deployment, the cloud-based segment is expected to exhibit a growth rate of US$ 8.9% during the assessment period.
The market in Japan is to expand by 8.6% CAGR by the end of the forecast period.

What is the Contribution of Key Players in the Global Payment Processing Solutions Market?

Key players in the global payment processing solutions market include Global Payments, Mastercard, Paypal, Visa, Wirecard, and others. Key developments in the industry are:

In November 2021, Fiserv launched Clover Online Ordering with Delivery, which offers flexible food delivery services with menu management, payment processing, and ordering through the newly launched platform.
In October 2021, Zettle Terminal was launched. It is a new, all-in-one point-of-sale solution that gives increased mobility in-store for SMEs. By 2022, Zettle Terminal will reach the USA It has already been launched in the UK in 2021.

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Payment Processing Solutions Market Segmentation:

By Payment Method:

Debit Card
Credit Card
E-Wallet
ACH
Other

By Mode of Deployment:

On-Premises
Cloud-Based

By Vertical:

BFSI
Government and Utilities
Telecom and IT
Healthcare
Real Estate
Retail and E-Commerce
Media and Entertainment
Travel and Hospitality
Other Verticals

By Region:

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

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.

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Case Management Software (CMS) Market Poised for Surge, Anticipating 9.6% CAGR to Reach US$ 18.2 Billion by 2033

The global case management software (CMS) market valuation is projected to reach US$ 7.2 Billion in 2023. Demand in the market is forecast to increase at a robust 9.6% CAGR, pushing the market size to US$ 18.2 Billion by 2033.

As per FMI, rapid technological advancements, and the introduction of Big Data, artificial intelligence (AI), cloud computing, machine learning (ML), and automation are driving sales of CMS. These technologies have become essential in improving economic competitiveness, thereby propelling the growth in the market.

Healthcare, insurance, law, banking, and social services are the main sectors using case management solutions to handle business processes easily. Due to advancements in software, hardware, and communication technology, case management technology is transforming the market gradually. With the help of CMS, industries such as BFSI and healthcare can reduce the expenditure and the time required to manage documents.

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Healthcare service providers go through a lot of paperwork, scheduling, billing, and other unplanned activities to deliver quality services to patients. Over the years, the healthcare industry has been leveraging technology to address these issues. Technology in healthcare has improved many functions such as maintaining, registering patient information, and tracking diagnosis.

North America is expected to dominate the global case management software (CMS) market with total sales reaching a valuation of US$ 4.6 Billion by 2033. The presence of leading providers and the adoption of automated workflow systems in large enterprises as well as SMEs will augment the growth in the market.

Key Takeaways from the Case Management Software (CMS) Market Report:

By deployment mode, the on-premises segment is anticipated to account for 52.5% of the global case management software market by 2032.
Based on business function, total sales in the service request segment will hold 32.6% of the total market share over the forecast period.
In terms of enterprise size, the small & mid-sized enterprises segment will expand at an 11% CAGR through 2032.
By industry, the adoption of case management software in the healthcare sector will grow by 2.6x over the forecast period.
Sales in the China CMS market will increase at a 7.1% CAGR over the assessment period.
The U.K. will dominate the Europe case management software market, with demand growth at a 7.9% CAGR through 2032.

Leading Key Players:

IBM
Athena Software
Needles
KANA
Social Solutions
Themis Solutions (Clio)
AbacusLaw
MyCase
Smokeball
SmartAdvocate
Jarvis Legal
Anaqua
LegalEdge
HoudiniEsq
CosmoLex
Rocket Matter
Actionstep
Firm Central
Prevail
CoCounselor

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Case Management Software Market Segmentation:

By Deployment Mode:

On-premise CMS Software
Cloud-based CMS Software

By Business Function:

Service Request
Fraud Detection and Anti-Money Laundering
Incident Management
Investigation Management
Legal Workflow Management

By Enterprise Size:

Small and Mid-Sized Enterprises (SMEs)
Large Enterprises

By Industry:

IT & Telecom
Retail
Government
Healthcare
BFSI
Manufacturing
Others

By Region:

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

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Nandini Singh Sawlani

Mobile Messaging Market on the Rise: Forecasts 15.9% CAGR, Aims for US$ 443.53 Billion by 2033

The global mobile messaging market size is set to reach US$ 101.41 billion in 2023. Overall sales of mobile messaging are likely to surge at 15.9% CAGR, taking the forecasted market valuation to US$ 443.53 billion by the end of 2033.

Businesses use mobile messaging services to connect to their customers for promotions and marketing campaigns designed for potential visitors, including email marketing campaigns and text messages, integrating them with the digital marketing strategy.

Companies push their inspirational and educational content through portal and website links, including the app’s push notification and WhatsApp for business platforms. A study shows that almost 109 countries run texting campaigns for end users. There is a set number of mobile texting consumers who are not tech-savvy, and mobile texting is the only way that they connect with each other and share information, fuelling the demand for mobile texting services.

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Brands also use social media messenger in order to reach the end-users and send informative, life and technology hacks that engage with a lot of potential customers. This also helps the mobile messaging market is expanding its roots in new market spaces.

The USA has one of the highest smartphone penetration rates in the world, with around 81% of adults owning a smartphone as of 2021. With the increasing availability and affordability of smartphones, more people have access to text messaging, driving the demand for mobile messaging.

Key Takeaways from the Mobile Messaging Market Report:

The short messaging services from the mobile messaging market are expected to grow at the fastest CAGR of 24% in the service type category, helping it to reach US$ 340.07 Bn.
The multiple messaging services segment is expected to grow at a strong CAGR of 18.2% in the type category of the mobile messaging market. The mobile email segment is growing at a high CAGR of 21.3%, including a 20.7% CAGR in the USA, Canada, Japan, China and Europe.
United States is expected to reach a market size of US$ 55.79 Billion in the Mobile messaging by 2032.
The market size for Master recharge APIs in China is expected to reach US$ 217.15 Billion by 2032, growing at a CAGR of 28.7% during the research period.
Canada’s Mobile messaging market is expected to thrive at a CAGR of 20.9% over the forecast period.
Japan’s Mobile messaging is expected to flourish at a CAGR of 18% during the research period (2022-2032).
Germany is the largest consumer within Europe, thriving at a CAGR of 19.6% between 2022 and 2032.

Competitive Landscape:

The mobile messaging market is highly competitive, and the market players have adopted various strategies to gain a larger market share. Here are a few examples:

Innovation and diversification: Players in the market such as WhatsApp and WeChat have been able to differentiate themselves by constantly innovating and diversifying their services. For example, WhatsApp introduced its Business API, which enables businesses to send automated messages to their customers, providing a new way for businesses to engage with their customers. Similarly, WeChat offers a wide range of services such as mobile payments, social networking, and e-commerce, making it a one-stop-shop for its users.
Emphasizing data privacy and security: Given the growing concerns around data privacy and security, market players such as Signal and Telegram have differentiated themselves by emphasizing their strong encryption and privacy features. Signal has been able to attract a loyal user base by positioning itself as the most secure mobile messenger in the market.
Targeting specific demographics: Some market players differentiate themselves by targeting specific demographics. For example, Kik, a mobile messenger popular among teenagers in the USA, offers features such as anonymous usernames and group chats, which appeal to its young user base.
Providing customization and personalization: Market players such as Line and KakaoTalk have differentiated themselves by providing a high degree of customization and personalization. Line, for example, offers a wide range of stickers and emojis that users can use to express themselves, while KakaoTalk allows users to customize their chat rooms with different backgrounds and themes.
Integration with third-party services: Market players such as Slack and Microsoft Teams differentiate themselves by offering integration with third-party services such as Google Drive and Trello. This enables users to work seamlessly across different platforms, providing a more comprehensive solution.

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Mobile Messaging Market Segmentation:

By Type:

Hardware
Software

By Application:

OEMs
Aftermarket

By Component:

Platform
A2P Service

By Deployment Mode:

On-premises
Cloud

By Traffic:

National
Multi-country

By Vertical:

Banking, Financial Services, and Insurance
Retail and eCommerce
Hyperlocal Businesses
Healthcare
Travel and Hospitality
Others

By Geography:

North America
Latin America
Europe
East Asia
South Asia
Oceania

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Sun Care Products Market Poised for Growth: Projected 6.4% Average CAGR by 2033

FMI projects the sun care products market to elevate from US$ 13.6 billion in 2023 to US$ 25.3 billion by 2033, with an average CAGR of 6.4% anticipated throughout the forecast period.

The surge in skin-related disorders, including acne, eczema, tanning, rashes, and infection, is expected to drive market growth. Moreover, the market expansion is fueled by rising urbanization, shifting lifestyles, disposable income, and innovation. In addition, the rising consumer awareness of skin diseases, exposure to UV rays, and dullness of skin are increasing the demand for organic sun care products. These products aid in toxin clearance and skincare maintenance.

Customers are molding towards SPF & UV protection sun care products to prevent aging and provide deep moisturization. Manufacturers develop solutions using natural components to treat damaged skin, focusing on consumer needs. In addition, these producers expand market prospects by offering plant-based components free of harmful chemicals.

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Business Growth Drivers:

Increasing Awareness about Sun Protection: Growing awareness about the harmful effects of UV radiation on skin health is driving the demand for sun care products. Consumers are becoming more conscious about sun protection and are actively seeking products that offer broad-spectrum protection.
Rising Concerns about Skin Cancer: The rising incidence of skin cancer globally is fueling the demand for sun care products. Consumers are increasingly adopting preventive measures to reduce their risk of developing skin cancer, leading to higher sales of sunscreen lotions, creams, and other protective products.
Innovations in Product Formulations: Continuous advancements in product formulations, including the development of lightweight, non-greasy, and water-resistant sunscreens, are attracting consumers towards sun care products. Manufacturers are focusing on incorporating natural and organic ingredients, as well as introducing products with additional skincare benefits such as anti-aging properties.
Expanding Tourism and Outdoor Activities: The growing trend of outdoor recreational activities and increasing tourism activities in sunny destinations are driving the demand for sun care products. Consumers are seeking sun protection solutions that cater to their specific needs during outdoor adventures, beach vacations, and sports activities.
Market Expansion in Emerging Economies: The sun care products market is witnessing significant growth opportunities in emerging economies due to rising disposable incomes, urbanization, and changing lifestyles. Increasing consumer spending on personal care products, coupled with the expansion of distribution channels, is contributing to market growth in these regions.

Industry Restraints:

Regulatory Challenges and Compliance: Stringent regulations governing the labeling, formulation, and testing of sun care products pose challenges for manufacturers. Compliance with regulations such as FDA requirements in the US and EU regulations adds complexity and costs to product development and marketing.
Seasonal Nature of Demand: The sun care products market experiences seasonal fluctuations in demand, with peak sales occurring during the summer months in many regions. Manufacturers may face challenges in managing inventory levels and optimizing production capacity to meet fluctuating demand throughout the year.
Price Sensitivity: Price sensitivity among consumers, particularly in emerging markets, can act as a restraint on market growth. Competition among manufacturers to offer affordable sun care products without compromising on quality puts pressure on profit margins and may hinder market expansion.
Perception of Product Effectiveness: Despite advancements in product formulations, some consumers remain skeptical about the effectiveness of sun care products. Misconceptions about SPF (Sun Protection Factor) ratings, application methods, and product efficacy may hinder consumer adoption and brand loyalty.
Competition from Alternative Solutions: The sun care products market faces competition from alternative sun protection solutions, such as clothing with UV protection, hats, and sunglasses. Growing consumer interest in holistic approaches to sun protection and concerns about chemical ingredients in traditional sunscreens contribute to the popularity of alternative options.

Why do Consumers Prefer Sun Care Products in Tubes Packaging?

Tubes packaging is expected to dominate the cosmetic market by securing a 42.8% share by 2033. The manufacturers provide cosmetic products such as shampoo, face wash, cream, lotion, and toothpaste in tube packaging. Tube packaging is dependable and practical because it stores the products and is simple to use. Many sorts, forms, and shapes of tubes are created by manufacturers along with product descriptions. High-quality tubes were designed by the makers for product packing to extend shelf life. Moreover, leading cosmetic and new start-up companies are developing innovative paper tube packaging to facilitate recycling and lower carbon emissions.

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Key Takeaways:

The sun care products market is likely to reach a valuation of US$ 25.3 billion by 2033.
The sun care products market is expected to record a CAGR of 6.4% during the forecast period.
The market in the United States is anticipated to capture 81.1% of the share through 2033.
With a CAGR of 57.8%, the Australia sun care products market is expected to increase significantly during the forecast period.
The market in India is expected to secure a share of 27.3% over the forecast period.
The market in China is projected to reach a share of 42.6% by 2033.

Who is Winning?

The prominent players play a vital role in the global market by capturing maximum output. These prominent players focus on consumers’ requirements and launch innovative products to meet their needs. For example, they are developing sun care products without side effects and premium packaging to enhance product life.

These players invest in research and development activities to expand the market size. In addition, the key players upsurge the market through marketing strategies, including collaborations, partnerships, product launches, mergers, and acquisitions.

Other Players in the Market are:

Estee Lauder Companies, Inc.
Coty, Inc.
Revlon, Inc.
Clarins Group
Clinique Laboratories, Inc.
Natura & Co.
Amway Corporation
Shiseido Company, Limited
AmorePacific Corporation
Revlon, Inc.
Kiehl’s LLC
Others (On Request)
Beiersdorf AG
The Procter & Gamble Company
Unilever PLC
L’Oreal Group

Recent Developments in the Market are:

In September 2020, a Korean Brand, KOKOSTAR, launched its new product Sunscreen Capsule Mask by adding sunscreen oil and sunblock serum. The company launched this vegan mask with biodegradable ingredients.
In May 2022, L’Oréal launched its new UV filter technology-based product UVMune 400, to protect skin from harmful UVA radiation.
In February 2022, Beiersdorf established its new center in the United States for therapeutic OTC and sun care products.

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Sun Care Products Market by Category

By Product Type:

Sunscreen
After Sun Care
Self-tanning Products

By Packaging Type:

Bottles/Jars
Pumps & Dispensers
Tubes
Others

By Age:

Adult
Kids

By Nature:

Organic
Conventional

By Sales Channel:

Hypermarkets/Supermarkets
Specialty Stores
Multi-brand Stores
Pharmacy/Drug Stores
Department Stores
Convenience Stores
Online Retailers
Others

By Region:

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

Author

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani