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South Korea Intellectual Property Market is valuation reaching US$ 4,657.2 Mn by 2032

According to the South Korea Intellectual property (IP) market analysis by Future Market Insights (FMI), demand in the market will increase at an impressive CAGR of 17.8% from 2022-2032. The market valuation will reach nearly 4,657.2 Mn by 2032.

The report states that the market is expected to reach a valuation of US$ 0.9 Bn in 2022. Increasing adoption of IP in the digital economy and growth of new business models are anticipated to drive the market in the forthcoming years.

Adoption of IP in emerging nations encourages research and development, thereby uplifting of ideas and innovations to foster fast implementation of new technologies and economic development of the country. Domestic firms in emerging economies rely heavily on trademark protection, which will spur demand.

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Legislative measures, evidence gathering procedures and with its introduction of k-discovery that will create opportunities for growth in the market. Many universities and large organizations have established offices for Intellectual Asset Management (IAM), which is also offered as a service by consulting and law firms for protection of the IP.

Large enterprises are investing in IP for the protection of products. This enables organizations to enjoy benefits such as venture capital funding, license sales and using their trade secrets for revenue and creation of valuable IP assets.

The negative effects of free riding on innovation is one of the main reasons for protection of IPR and for the required funding from investors. Management of IP also serves organizations with the necessary economic benefits through legal rights to authors and inventors for the determining the way in which inventions and innovations are used.

Key Takeaways:

By solution, the intellectual property (IP) management software segment is anticipated to expand at a 21% CAGR through 2032.
By end user, sales in the law firms segment are forecast to increase at a CAGR of 19.4% between 2022 & 2032.
Total demand in the south Korea intellectual property market is slated to rise at an impressive 17.8% CAGR through 2032.

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Competition Landscape

Leading players operating in the South Korea intellectual property market are investing in technological advancements to improve the performance of solutions and software to gain a competitive edge. For instance:

In December 2019, Dennemeyer Group completed the acquisition of the Italian IP law firm De Simone & Partners. The acquisition will help company to expand their business in Italy.
Anaqua, provider of innovation and intellectual property management solutions announced the launch of a new innovative unit which aims to address needs of today’s global law firms. The firm is also investing in its leadership and law firm platforms, AQX Law Firm and PATTSY WAVE which highlights the anaqua’s commitment to firm as an essential part of the IP ecosystem and meets the needs of the market.

South Korea Intellectual Property Outlook by Category

By Solution:

Intellectual Property (IP) Management Software
- Cloud-based
- On-Premises
IP Search and Analysis Software (Web-based)
Intellectual Property Services
- IP Consulting and Analytics
- Law Firm Services
- IP Maintenance
- Others

By End-user:

Corporations
Government & Academic
Law Firms
Others

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

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Chatbot Market is predicted to grow from US$ 448.5 Mn in 2021 to US$ 4.2 Bn in 2032

The global chatbot market is anticipated to reach a valuation of US$ 4.2 Bn by 2032 from US$ 580.3 Mn in 2022, rising at a CAGR of 21.8% throughout the forecast period. In 2020, the chatbot market was projected to have a modest slowdown due to the worldwide shutdown. The COVID-19 epidemic has shook almost every business, causing a surge in turnover.

Despite the fact that crucial items are exempt from the lockdown, the shortage of workers to operate on manufacturing lines, supply networks, and transportation has a negative impact on the availability of vital commodities. The issue is likely to be under control by early 2021, with demand for chatbot solutions and services expected to surge as businesses attempt to improve customer experience and build tailored relationships with prospects.

A wide variety of chatbot solutions and services will be used by a variety of industries to support digital transformation programs that address mission-critical procedures, improve operations, and differentiate customer viewing experiences. Reduced operating costs, improved customer experiences, resolution of customer problems, increased visibility into processes and operations, and improved real-time decision-making are all expected to drive the chatbot market adoption trends.

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Lack of awareness and problems associated with management change may have an impact on chatbot market growth to some extent. Though chatbot solutions are becoming more popular in a variety of industries, issues with successful implementation and a lack of understanding of the benefits given by AI-powered chatbot solutions may hinder their acceptance in developing regions such as Latin America and Africa.

Furthermore, large enterprises are at the forefront of using chatbot solutions; however, SMEs have limited acceptance of the same due to the costs involved with their upkeep and a lack of experienced people. However, as SMEs become more aware of chatbot solutions, the usage of chatbot solutions is projected to increase in future years.

As per the global chatbot market study, self-learning bots with data-driven behaviour are powered by NLP technology and self-learning capabilities (supervised machine learning) and can provide more human-like and natural communication; they also learn from their own mistakes.

Key Takeaways

The US chatbot market is expected to rise rapidly at a high CAGR of 26.8% throughout the forecast period.
During the projected period, APAC is expected to grow at the fastest rate. APAC countries are technologically advanced and provide significant investment and income prospects.
In terms of market size, the standalone segment dominated the chatbot market in 2020, accounting for 56.9% of total revenue.
The mobile segment is expected to grow at a CAGR of 24.1% throughout the forecast period.

Competitive Landscape

Some of the key players operating in the chatbot market include MindMeld, IBM, Google, Oracle, Conversica, Nuance, Inbenta, Aivo, Personetics, AWS, Microsoft, LiveChat, Creative Virtual, and Artificial Solutions.

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Recent Developments

Kore.ai introduced a Virtual Assistant Platform in Japanese in February 2021. The Kore virtual assistant platform was published in Japanese to better address the demands of the Japanese market and to expedite the adoption of virtual assistants. This will aid enterprise customers in shortening time-to-market and improving customer experience in their local tongue.

Saykara, Inc., a like-minded business focusing on building a mobile AI assistant to automate clinical paperwork for physicians, was acquired by Nuance in February 2021. Nuance’s continued market expansion and technological leadership in conversational AI and ambient clinical intelligence (ACI) solutions that minimize clinician burnout, improve patient experiences, and improve overall health system financial integrity are highlighted by this purchase.

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Application Virtualization Market is anticipated to reach US$ 13.2 Billion in 2032

According to a recent study conducted by Future Market Insights, the application virtualization market is expected to reach US$ 13.2 billion by 2032, up from US$ 3.8 billion in 2022, expanding at a high CAGR of 13.1%. This study explains that an increase in the implementation of third-party platform by business for implementation of applications is a factor that is expected accelerate the market value during the forecast period.

Furthermore, cost effective solutions as well as improved efficiency benefits are other factors that are expected to encourage the adoption of Application virtualization solutions among SMEs, which in turn will fuel the market growth during the forecast period. Moreover, the increasing adoption of cloud-based technologies is another major factor that is anticipated to augment the market growth over the analysis period.

Additionally, several benefits provided by application virtualization such as installation only on one centralized computer instead of installing on every computer and easy up-gradation expect a boost to the market in the forthcoming years. Further, the availability of application without installing it and easy control on the application by admins to allow or deny access of the application to a particular user is predicted to propel the market growth.

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Key Takeaways from the Market Study

Global application virtualization market was valued at US$ 3.8 Bn by 2022-end
The US to account for the highest value share of US$ 4.7 Bn of global market demand for Application Virtualization Market in 2032
From 2015 to 2021, Application Virtualization demand expanded at a CAGR of 15.1%
By Deployment Type, the private cloud category constitutes the bulk of application virtualization deployment with a CAGR of 12.4%.

Competitive Landscape

Players in the global Application Virtualization Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In September 2019, Microsoft announced the worldwide general availability of Windows Virtual Desktop. It is the only service that delivers simplified management, a multi-session Windows 10 experience, optimizations for Office 365 ProPlus, and support for Windows Server Remote Desktop Services (RDS) desktops and apps. With Windows Virtual Desktop, users can deploy and scale their Windows desktops and apps on Azure in minutes.
In January 2019, Symantec introduced new Symantec SSL Visibility appliance (SSLV) v5.0 – an encrypted traffic management solution as a virtual appliance. SSLV v5.0 is an on-premise virtual appliance for dedicated Secure Sockets Layer (SSL)/Transport Layer Security (TLS) inspection.
In 2018, Microsoft acquired FSlogix, in order to extend its virtualization capabilities and offer an improved experience to the Microsoft 365 customers.

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Know More about What the Application Virtualization Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Application Virtualization Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Application Virtualization Market, the market is segmented on the basis of component, deployment type, organization size, and vertical, across five major regions.

By Component:

Application Virtualization Solutions
Agent Based Solution
Agent Less Solution
Application Virtualization Services
Support and Maintenance Services
Training and Consulting Services

By Deployment Type:

Public Cloud Application Virtualization
Private Cloud Application Virtualization
Hybrid Cloud Application Virtualization

By Organization Size:

Application Virtualization for Large Enterprises
Application Virtualization for SMEs

By Vertical:

Application Virtualization for BFSI
Application Virtualization for Healthcare
Application Virtualization for IT and Telecom
Application Virtualization for Government and Defense
Application Virtualization for Construction
Application Virtualization for Education
Application Virtualization for Other Verticals

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Application Virtualization Market is anticipated to reach US$ 13.2 Billion in 2032

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Key Takeaways from the Market Study

Global application virtualization market was valued at US$ 3.8 Bn by 2022-end
The US to account for the highest value share of US$ 4.7 Bn of global market demand for Application Virtualization Market in 2032
From 2015 to 2021, Application Virtualization demand expanded at a CAGR of 15.1%
By Deployment Type, the private cloud category constitutes the bulk of application virtualization deployment with a CAGR of 12.4%.

Competitive Landscape

In September 2019, Microsoft announced the worldwide general availability of Windows Virtual Desktop. It is the only service that delivers simplified management, a multi-session Windows 10 experience, optimizations for Office 365 ProPlus, and support for Windows Server Remote Desktop Services (RDS) desktops and apps. With Windows Virtual Desktop, users can deploy and scale their Windows desktops and apps on Azure in minutes.
In January 2019, Symantec introduced new Symantec SSL Visibility appliance (SSLV) v5.0 – an encrypted traffic management solution as a virtual appliance. SSLV v5.0 is an on-premise virtual appliance for dedicated Secure Sockets Layer (SSL)/Transport Layer Security (TLS) inspection.
In 2018, Microsoft acquired FSlogix, in order to extend its virtualization capabilities and offer an improved experience to the Microsoft 365 customers.

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Know More about What the Application Virtualization Market Repost Covers

By Component:

Application Virtualization Solutions
Agent Based Solution
Agent Less Solution
Application Virtualization Services
Support and Maintenance Services
Training and Consulting Services

By Deployment Type:

Public Cloud Application Virtualization
Private Cloud Application Virtualization
Hybrid Cloud Application Virtualization

By Organization Size:

Application Virtualization for Large Enterprises
Application Virtualization for SMEs

By Vertical:

Application Virtualization for BFSI
Application Virtualization for Healthcare
Application Virtualization for IT and Telecom
Application Virtualization for Government and Defense
Application Virtualization for Construction
Application Virtualization for Education
Application Virtualization for Other Verticals

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Business Intelligence Market CAGR of 7.0% between 2022 and 2032

The business intelligence market is expected to rise at a CAGR of 7% throughout the forecast period. The valuation of the business intelligence market is projected to reach US$ 52.6 Bn by 2032 from US$ 26.7 Bn in 2022.

The demand for business intelligence is predicted to rise as a result of various factors such as an increased focus on digital transformation, increased investments in analytics, increased demand for data visualization dashboards, increased cloud use and increased data generation.

As per the latest business intelligence market adoption trends, cloud computing and big data analytics have gained traction in recent years. As a repository for structured and unstructured data, cloud computing is seen as a suitable platform for providing BI applications. Studies by FMI have indicated that big data technology has enabled these tools to analyze vast amounts of data in order to provide businesses with actionable insights that help them evaluate opportunities and improve marketing strategies.

The widespread use of social media and other internet services, such as over-the-top services and e-commerce, which generate massive volumes of heterogeneous data, is expected to boost the business intelligence market size.COVID-19 has heightened the requirement for all businesses to put their data to work in order to speed up decision-making. A thorough business intelligence approach can assist organizations in defining suitable metrics to better withstand a crisis, which can be a silver lining for many enterprises during these trying times.

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Business intelligence allows firms to examine their operations more closely by identifying what they are doing well and where they may improve, positively impacting the business intelligence adoption trends. The goal of business intelligence is to use data to create better and more profitable decisions.

For small and mid-sized businesses, the cost of adopting business intelligence infrastructure is a major problem. In addition, the business intelligence market growth is anticipated to be hindered by a lack of competent data science specialists, consulting analysts, and professional IT experts.

Key Takeaways

By deployment model, the cloud segment of the business intelligence market is expected to advance at a CAGR of 6.4% throughout the forecast period.
The FMI study indicates that the US business intelligence market is projected to reach a valuation of US$ 18.3 Bn by 2032.
Due to the increased requirement for workforce management, the HR business function segment is expected to develop at a faster rate during the projection period. Several firms are implementing business intelligence technologies to allow HR managers to make real-time personnel decisions.
The solutions segment is projected to grow at a CAGR of 6.9% throughout the forecast period.

Competitive Landscape

As per the business intelligence market analysis by FMI, Strategic alliances, partnerships and affiliations, and mergers and acquisitions are just a few of the basic business tactics used by the business intelligence market participants to improve their market position in a fiercely competitive and segmented industry.

To enhance their products in the market, business intelligence suppliers have used a variety of organic and inorganic growth techniques, such as new product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions. Google, Salesforce, Oracle, Qlik, Board International, Infor, SAP, AWS, Sisense, MicroStrategy, DOMO, TIBCO, Yellofin, Teradata, Information Builders, IBM, and Microsoft are the major vendors in the global business intelligence market.

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Recent Developments

Sandbox, a new tool on the Domo platform, was announced in September 2021 by Domo, Inc. It’s utilized to help customers create and promote content for production in a variety of industries.

IBM Corporation and SAP SE have teamed up to develop creative solutions to deliver intelligent technology and apps for data-driven insights in June 2020. The organizations are likely to use SAP’s business technology platform & Intelligent Suite, as well as IBM’s artificial intelligence, machine learning, analytics, and automation technologies as part of this agreement.

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Geomechanics Software and Service Market to grow at 6.9% annually to reach US$ 3,437 Mn by 2032

The global geomechanics software and service market is calculated at US$ 1526 Mn in 2021 and is projected to reach US$ 1766 Mn by 2022. The market is anticipated to reach US$ 3437.2 Mn by 2032 while recording a CAGR of 6.9% during the forecast period from 2022 to 2032.

A government initiative that combines safety concerns and stringent regulation on nuclear waste in the environment to boost the market for geomechanics software and services. The oil and gas industry is also likely to be responsible for the rapid growth of this market.

Additionally, the volume of civil construction and 3D or 4D designs for the projects will create high growth prospects for the geomechanics software and services market.

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Key Takeaways

Japan is predicted to grow by 9.2% CAGR between 2022 and 2032.
The global geomechanics software and service market are currently valued at US$ 1766 Mn, with a CAGR of 6.9% during the forecast period.
Segment sales for oil and gas geomechanics software and service will grow at a CAGR of 8.1% during the forecast period.
According to market research, the U.S. market has reached a value of US$ 994.8 Million and is expected to grow at a CAGR of 7.9% during the forecast period.
The market value of the Service components has reached a CAGR of 13.6% during the forecast period.
South Korea recorded a CAGR of 5.2% CAGR during the forecast period.

Competitive Landscape

Key players that have been profiled in the report are Schlumberger Limited, Ikon Science Limited, Baker Hughes (a GE Company), Itasca Consulting Group, Inc., Rockfield Global Technologies, Geosteering Technologies, Landmark Solutions – Halliburton and CGG, HXR Drilling Services. Innovative products and technologies will allow customers to benefit from new technologies.

In May 2021, Mott MacDonald Ventures, a global consulting company that predominates in the field of engineering, made an investment in the Spanish software and engineering start-up firm SAALG Geomechanics. Analyzing ground behavior can be done using SAALG’s Daarwin software during the construction phase of civil engineering and construction projects. With the aim of covering every phase of a civil project in the future, from planning to designing to building, and maintaining, the company will apply scaled models to the whole lifecycle.

In May 2021, Ikon Science launched Curate, a scalable and cloud-based knowledge management system designed to help users make more informed decisions. Curate lets energy companies democratize data and learn from business data inside a single workspace, allowing them to access all subsurface data through streamlined workflows. Companies can use Curate to accelerate exploration, reduce portfolio risk, and plan and optimize wells, so they can drive more profits while preserving human resources and capital.

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More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global geomechanics software and service market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

Key Segments

By Component:

Software
- Standalone
- Integrated
Services
- Consulting
- Integration and Implementation
- Support and Maintainance

By Solution type:

Oil and Gas
Mining
Civil Construction
Nuclear Waste Disposal

By End-use Industry:

Mining
Civil Construction
Oil and Gas
Waste Disposal

By Region:

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

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Fiber Optic Connectivity Market is likely register a CAGR of 9.6% to reach US$ 7.0 Billion

According to a recent study done by FMI, the Fiber Optic Connectivity Market is expected to reach US$ 7.0 billion by 2032, up from US$ 2.8 billion in 2022, expanding at a high CAGR of 9.6%. This study explains that the demand of fiber optic technology in various industrial sectors and in submarines and aircrafts sectors influence the growth of the market.

In addition, the high demand for energy efficient solutions across the globe in various industries is expected to boost the market during the forecast period. Moreover, the demand of fiber optic technology in various industrial sectors and in submarines and aircrafts sectors also influence the growth of the market.

Furthermore, the low cost associated with the data transfer is also anticipated to flourish the growth of the fiber optic connectivity market. In addition, the technological advancements in the field of communication technology are also expected to create various new opportunities that will lead to the lift in the growth of the fiber optic connectivity market during the forecast period. Additionally, the longer distance transmission with low security risk is another major factor that is expected to favor the growth of the Fiber Optic Connectivity market.

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Key Takeaways from the Market Study

Global Fiber Optic Connectivity Market was valued at US$ 2.8 Bn by 2022-end
The US to account for the highest value share of US$ 1 Bn of global market demand for Fiber Optic Connectivity Market in 2032
From 2015 to 2021, the Fiber Optic Connectivity demand expanded at a CAGR of 10.1%
By Component, Hardware constitutes the bulk of Fiber Optic Connectivity with a CAGR of 9.4%.

“Low cost associated with the data transfer is a major factor that is anticipated to flourish the growth of the fiber optic connectivity market during the forecast period,” remarks an FMI analyst.

Competitive Landscape

Players in the global Fiber Optic Connectivity Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In March 2022, In March 2022, Zain Group signed a Memorandum of Understanding (MoU) with Huawei to accelerate 5.5G Innovation to enrich the customer experience across multiple markets. Within the scope of the MoU, Huawei will support Zain Group to optimize its network architecture to extend 5G capabilities to support IoT, Ultra-Reliable Low Latency Communications, uplink centric broadband, real-time broadband communication, harmonized communication, and sensing.
In January 2022, Corning Incorporated announced the launch of a new glass composition to advance the development of augmented and mixed reality (AR/MR) diffractive waveguides for wearable devices. Optical advancements inherent in the glass take the augmented reality experience to the next level through larger, clearer digital content that creates more engaging and immersive user experiences.

In November 2021, HUBER+SUHNER and McLaren launched 5G applications to run on trains, the HUBER+SUHNER SENCITY® Rail ACTIVE Rooftop antenna, which is the first-of-its-kind rail antenna that contains an embedded radio and compute module to offer increased data throughput to support 5G services. It is an all-in-one active antenna with a single ethernet cable input for power and data transmission.

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Know More About What the Fiber Optic Connectivity Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Fiber Optic Connectivity Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Fiber Optic Connectivity Market, the market is segmented on the basis of component and industry across five major regions.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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Bot Security Market is expected to reach US$ 2.5 Bn by 2032

The bot security market is expected to reach US$ 2.5 Bn by 2032 from US$ 487 Mn in 2022. The market is predicted to grow at a CAGR of 17.6% throughout the forecast period.

The rise in bad bot traffic, increasing sophistication of botnet assaults and loss of revenue for firms, traffic shift from mobile to web, and explosion in the use of APIs across businesses such as eCommerce, travel, gaming, and others are all major driving reasons for the bot security market.

As per the global bot security market study by FMI, increasing botnet sophistication, a shift in traffic from mobile to web, rising awareness about data privacy, and a surge in API usage across a variety of industries, including retail and e-commerce, travel and hospitality, and telecom, are expected to drive bot security market growth over the forecast period.

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Botnet security solutions and services are widely used in the media and entertainment business to detect and mitigate advertising-related vulnerabilities. This reason is expected to drive the bot security industry forward.

In several regions of the world, a trend of ideological and state-driven attacks targeting persons or organizations to support a political cause or carry out a cyber warfare campaign is being noted, with organizations finding it difficult to combat these attacks. Botnet attacks, according to industry analysts, may be carried out across multiple organizations around the world employing such approaches.

This figure is likely to grow significantly in the next years due to increased internet penetration. In industrialized economies, such as the United States, Australia, South Korea, and Japan, smartphone ownership is substantially greater. Smartphones are being used for a variety of tasks, including internet shopping, social media apps, and product research.

As a result, web traffic is shifting from desktop to mobile, making botnet attacks a profitable target. Because of these worrying figures, bot security firms are focusing more on mobile security. As a result, bot security suppliers are projected to benefit from the shift in online traffic to mobile. In numerous regions of the world, the rise of ideological and state-driven attacks that target people or organizations to support a political cause or carry out a cyber warfare campaign is being noted, and organizations are finding it difficult to combat these attacks.

Botnet attacks, according to industry analysts, may be carried out across multiple organizations around the world employing such approaches. This feature is predicted to limit the bot security market’s growth. The growing number of botnet attacks throughout the world is driving up demand for botnet security. Bot security solutions are becoming increasingly popular as a way to defend and secure websites, databases, and applications. Increased bot security and protection integration into existing antivirus and WAF products, as well as stringent government requirements on data privacy, are projected to present significant prospects for major bot security players in the coming years.

Key Takeaways

Owing to the high rate of adoption of modern technology, early acceptance of bot security, and the presence of a significant number of major players in the region, North America dominated the worldwide bot security market. The retail and eCommerce segment accounted for the largest market in 2021 and is projected to continue to do so in the foreseeable future.
The bot security market’s services category has a lot of potentials, and it’s predicted to grow at a faster rate throughout the forecast period.
The standalone solution segment is expected to advance at a CAGR of 17.2% throughout the forecast period.

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Competitive Landscape

To enhance the botnet security market share, presence, and revenues, the bot security companies are focusing on various growth tactics such as collaborations, mergers, and acquisitions. In order to strengthen their product offering, key players are also purchasing other businesses.

Key and innovative vendors in the bot security market include AppsFlyer, Imperva, Shape Security, Alibaba Cloud, DataDome, PerimeterX, Netacea, Cloudflare, Sophos, Fastly, Akamai Technologies, F5, Radware, and Reblaze.

Key Segments

By Security Type:

Web Security
Mobile Security
API Security

By Deployment Mode:

Cloud
On-Premises

By Organization Size:

Small and Medium-sized Enterprises (SMEs)
Large Enterprises

By Vertical:

Retail and eCommerce
Media and Entertainment
Travel and Tourism
BFSI
Telecom

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Blockchain Market growth rate of 34.1% Y-o-Y to US$ 155 Billion in 2032-FMI

The blockchain market is expected to advance at a CAGR of 34.1% throughout the forecast period, from US$ 8.3 Bn in 2022 to US$ 155 Bn in 2032. As per the global blockchain market study, the demand for cryptographic ledger solutions to increase due to increased identity and data theft activities. To protect end-user financial data and identity, BFSI firms are turning to digital ledger technologies.

Cross-border transactions, processing and settlements, trade finance networks, digital identity verification, and credit reporting are among the technology applications gaining traction in the BFSI market. This is projected to help the blockchain market expand. The blockchain market growth will be hampered by a scarcity of skilled professionals.

Threats and cyberattacks have escalated as industries have embraced digital change. Organizations, on the other hand, face a scarcity of competent experts to deal with risk issues.

As a result, technologically advanced solutions are being adopted slowly, which is expected to have an impact on blockchain market growth in the coming years. Furthermore, developing countries such as India, Peru, and Mexico, among others, face a lack of awareness regarding data security risks.

As a result, blockchain market adoption trends are expected to remain flat for a few years. The legalization of bitcoin stimulates further investment in blockchain technology by businesses and investors. It also pushes the blockchain market players to put in more effort to enhance their services in order to obtain a competitive advantage.

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Key Takeaways

The BFSI industry is predicted to have a substantial market share due to the rising use of digital ledger solutions and services by financial institutions to streamline company processes and reduce operating expenses.
In the blockchain industry, North America is expected to have the greatest market share. Early acceptance of blockchain and the presence of several producers offering privacy and blockchain solutions are projected to fuel the region’s market rise.
The blockchain platform segment is expected to advance at a CAGR of 33.4% throughout the forecast period.
The US blockchain market size is expected to reach a valuation of US$ 55.2 Bn by 2032.
The payments segment is likely to command a higher share of the blockchain market. The technology improves the transparency, cost-effectiveness, and operational efficiency of payment systems.

Competitive Landscape

The blockchain market’s competitive landscape is highly fragmented by nature. Companies are concentrating on tactics to strengthen their market positions, such as mergers and acquisitions.

Blockchain market participants are also concentrating on improving their product offerings in order to better respond to changing user wants and remain competitive. As a result, market participants are increasing their R&D spending in order to improve their product offers. In addition, the companies are partnering with institutions all around the world to encourage technological development, academic research, and innovation in the field of cryptocurrency and blockchain technology.

IBM, Blockcypher, AWS, Huawei, Intel, Oracle, Accenture, Guardtime, Wipro, Bitfury, Symbiont, SAP, Cegeka, and BigchainDB are some of the most creative blockchain vendors.

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Recent Developments:

Amazon Web Services launched ethereum on its managed distributed ledger in March 2021. This approach aids developers in determining ethereum nodes without having to deal with the complexities of infrastructure operation and setup.

BIGG Digital Asset Inc. and Blockchain Foundry Inc. joined in June 2021. This collaboration is likely to let enterprises offer forensic and risk-scoring services to stablecoin and fractional NFT creators.

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Fixed Asset Management Software Market is expected to reach US$ 11.4 Billion in 2032

The expected market size for fixed asset management Software worldwide is USD 3.8 billion in 2021 and USD 4.2 billion in 2022. The market is anticipated to grow at a CAGR of 10.6% from 2022 to 2032, when it will reach USD 11.4 billion. The market is anticipated to be significantly impacted by the rapid adoption of IoT-based services across numerous industries, including manufacturing, oil & gas, energy, electricity, and construction, over the projected period.

With the emergence of industry 4.0 in the manufacturing sector, various plants have adopted digital technologies to enhance the manufacturing processes, thereby, propelling the industry in the forecast period. Besides, technological development across several sectors like cloud computing, AI, and others is expected to benefit the fixed asset management software market in the forecast period.

For instance, in September 2019, Adapt IT disclosed a partnership with i-Chain, a South Africa-based fixed asset management services, and solutions company to provide a Web-based system offering easy access to a cloud-based environment, designed especially for educational institutions to assist them in managing their assets.

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Key Takeaways from the Market Study

The global fixed asset management market is estimated at USD 3.8 Bn in 2021
The global fixed asset management market to expand at 10.6% during the forecast period
The U.S market to secure USD 4 Bn and expand at 10.4% from 2022-to 2032
The market in China to procure USD 794 Mn while recording a 9.9% CAGR
The on-premises segment to expand at 10.2% CAGR
The Manufacturing segment to record a 10.4% growth rate

Competitive Analysis

Key participants of the global fixed asset management software market include IBM, Infor, SAP, Microsoft, and Oracle, among others.

Recent key developments among players are:

In March 2021, Sage, a cloud-business solutions provider acquired Task Sheriff, an artificial-based SaaS. The acquisition is focused on strengthening its AI technology and Task Sheriff founders would join Sage AI Labs. It is a global team of engineers, data scientists, and product managers, located in Melbourne, Barcelona, San Francisco, and Tel Aviv.
In April 2019, Infor signed an agreement with First Bus. Infor agreed to strengthen asset management for First Bus. First Bus is a transport operator in North America and the U.K.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global fixed asset management software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Component (Software, Services), By Deployment Type (Cloud, On-Premises), By Organization Size (Large Enterprises, SMEs), By Vertical (Energy and Utilities, Manufacturing, IT, Telecom, and Media, Transportation and Logistics, Healthcare and Life Sciences, Others), and Region (North America, Asia Pacific, Europe, Middle East & Africa, and Latin America)

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