Application Management Services Market Worth $87.60 Billion By 2025

The global application management services market is estimated to reach USD 87.60 billion by 2025, according to a new report by Grand View Research, Inc. The industry is expected to witness a steady growth owing to the increasing demand from the financial services sector and healthcare industry.

Application management services encompass a wide range of implementation and operational services that are vital to application maintenance, optimization, support and modernization, and migration. As the number of applications used and deployed by organizations is increasing continuously, the need to monitor and manage these services for business efficiency and continuity is driving the demand for application services across different industries.

Companies today make use of a myriad set of applications to address client needs, deal with numerous stakeholders in the value chain, and keep abreast with the rapidly evolving technology landscape. These conditions have been augmented with the advent of new trends such as Internet of Things, cloud, and analytics, which are disrupting the traditional system models. Owing to these factors, the application management services are anticipated to witness a steady rise in demand over the years to come.

The application services industry is quite mature, which can be attributed to the presence of many traditional service providers who are entrenched firmly in the market. As the technological adoption gains velocity in the industry, delivery models and service scopes are set to exhibit a dramatic change with Software as a Service and cloud deployments playing a significant role in the market.

Global application management services market by service, 2014 - 2025 (USD Billion)

Further key findings from the report suggest:

• The industry is marked by the presence of big enterprises such as Cognizant, Accenture, IBM, Capgemini, and Deloitte
• The banking, financial services, and insurance segment is anticipated exhibit a significant increase in demand
• IT cost reduction, digitalization, and the need for gaining agility, reliability, and integrated system models will shape the nature of services provided and sought after in the market
• The impact of changing industry dynamics will be profoundly exhibited on outsourcing, whether offshoring or onshoring industries, at a global level
• The lack of innovation, communication gaps, and inefficient methods for change management and governance may become major hurdles in the industry’s growth over the forecast period.

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Consumer Telematics Market Analysis, Size, Competitive Strategies, and Forecasts to 2022

High demand for big data analytics and related services is anticipated to be the primary factor that drives the consumer telematics market growth. Communication technologies and services that enable transfer of large data volumes in passenger vehicles on a real-time basis are referred to as consumer telematics. Vendors are focused on providing consumer safety via superior vehicle tracking products and services.

Proliferation of cloud-based services to deliver a highly personalized experience to the customer is also expected to positively impact the consumer telematics market demand over the foreseeable future. In addition, vendors also emphasize on developing interactive customer feedback systems that utilize cloud-based information. High demand for more personalized systems that help minimize driver cognitive load through filtration of intelligent data provides avenues for market growth. Decline in connectivity costs and high speed internet technologies such 4G and 3G may also catapult market demand over the forecast period.

Increased usage of mobile communications has set the stage for property and casualty insurers to develop a mutually beneficial relationship with policy holders. This has been more evident in the auto/motor insurance sector, which has witnessed the advancements in machine-to-machine (M2M) communication or telematics segment, generating data that helps assess risks and rewards for policyholders adhering to safe driving practices. Telematics and associated analytical tools are expected to help streamline and automate claim processes with real-times triggers and alerts. This will help reduce expenses for the insurers, and is estimated to drive the consumer telematics demand substantially. 

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Automobile manufacturers are known to provide connected vehicle services to the consumers, which primarily include GPS, roadside assistance, emergency notifications, etc. However, rising penetration of both smartphones and embedded telematics devices with vehicle connectivity systems are expected to impel the advanced consumer telematics demand over the forecast period.

Companies are now focusing on providing customized products and services owing to advancements in technology that allow capturing meaningful insights from customer behavior analyzed through various means such as connected cars, smartphones, etc. High volume of vehicles embedded with telematics may drive down device cost and encourage innovation, which is further expected to impel the consumer telematics market growth over the next few years. Advancements in mobile application software, mobile technology and ubiquitous connectivity have significantly reshaped the consumer telematics industry. Smartphones today exhibit capabilities such as accelerometers and GPS, which further provides avenues for market growth.

Several regulations are emerging that are expected to drive consumer telematics demand. For instance, Brazil’s SIMRAV18 and the European Commission’s eCall, 16 Russia’s ERA-GLONASS17 are a few mandates that require vehicles to have systems that assist drivers during emergencies. Contran 24519 mandates that vehicles manufactured or imported to Brazil are required to have GPRS20 vehicle tracking modules that help minimize incidences of vehicle theft.

North America is expected to emerge as the dominant regional market in 2014 with the launch of several products and programs regarding consumer telematics. Asia pacific is also expected to witness considerable growth over the forecast period owing to high automotive demand across the regional market.

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Managed Security Services Market is Expected to Reach USD 60.94 Billion by 2024

The global managed security services market is expected to reach USD 60.94 billion by 2024, according to a new report by Grand View Research, Inc. The proliferation of advanced threats is expected to increase the adoption of managed security services over the forecast period. 

Growing usage of cloud storage systems among organizations is driving the demand for cloud-based security services. Moreover, regulatory compliances in several countries to protect loss of information are enabling enterprises to deploy security services. For instance, in 2014, Russia announced the adoption of new regulations for the collection and storage of information only on the Russian territory effective from September 2016. 

Managed security services are expected to grow at a robust pace owing to the fast emerging BYOD trend, increasing cybercrime activities and growing concerns for malicious malware attacks. Owing to the increasing consumer privacy regulations such as Personal Protection Act and Consumer Protection Regulations, various sectors such as BFSI and telecom are increasingly adopting these services. 

Global managed security services market by region, 2014- 2024 (USD Million)

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Further key findings from the report suggest:

• The managed endpoint threat protection is expected to remain the largest segment owing to the growing BYOD trends among organizations and the need to mitigate the growing malware threats

• Cloud-based managed security services are expected to be the fastest growing segment owing to the rising number of remote workforce. Moreover, organizations are shifting from on-premise to cloud-based services to reduce the expenditure in managing these services.

• Telecom & IT is expected to grow at a CAGR of over 16.5% owing to the increasing need to protect and maintain customer privacy. Compliance with regulatory and legal requirements is critical for telecom operators to sustain their operations.

• The North America managed security services industry is anticipated to remain the largest over the forecast period. The continuous increase in computer hacking is leading to greater adoption of these services in the region.

• Asia Pacific is expected to be the fastest-growing region, growing at a CAGR of over 19% from 2016 to 2024. Owing to the rising number of complex cyber threats, companies in the region are outsourcing network infrastructure security.

• Key players in the managed security services market include Dell SecureWorks Inc., IBM Corporation, Symantec Corporation and Verizon Communications Inc. Companies are focusing on providing fully integrated security solutions to develop technologies in the security space.

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Flexitanks Market is Expected to Reach USD 1.49 Billion by 2024

The global flexitanks market is expected to reach USD 1.49 billion by 2024, according to a new report by Grand View Research, Inc. Increasing commodity export, particularly in Asia Pacific, is expected to foster flexitanks demand over the forecast period. Cost-effective and efficient nature of flexitanks has increased product popularity among the end-users. Flexitanks can carry more amount of liquid in a standard container than the ISO tanks or drums used for bulk transport traditionally.

Single trip was the leading product segment and accounted for over 90% of total market volume in 2015. Single trip flexitanks are very much cost-effective compared to multi-trip flexitanks, as they eliminate cleaning and repositioning costs incurred. Green logistic practices incorporated by most of the flexitank manufacturers and logistics providers ensure proper disposal of used flexitanks without causing any environmental ill-effect.

Virtually, flexitanks can be utilized for any liquid and semi-solid food material. This has helped higher flexitank penetration in the foodstuffs application segment. Higher operational benefits and cost-effectiveness have made flexitanks an attractive alternative.

U.S. flexitanks market volume by product, 2014 - 2024 (Units)

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Further key findings from the report suggest:

• Global flexitanks market demand was 984,000 units in 2015 and is expected to reach 4,928,106 units by 2024, growing at a CAGR of 18.6% from 2016 to 2024

• Foodstuffs were the leading application segment and accounted for over 30% of total market volume in 2015. Easy availability of FDA approved flexitanks in all regions has been a major factor for its increased penetration.

• Chemical is expected to be the fastest growing application segment at an estimated CAGR of 19.0% from 2016 to 2024. The growth can be attributed to increasing popularity of flexitanks along with the fact that all non-toxic liquid chemicals can be transported using flexitanks.

• Asia Pacific emerged as the leading regional market and accounted for over 60% of the total volume in 2015. Increasing commodity trade along with higher market penetration is expected to spur the regional market growth over the next seven years. The region is also expected to witness the fastest growth over the forecast period.

• Key market participants operating in the global flexitanks market include Environmental Packaging Technologies Inc., Qingdao LAF Packaging Co. Ltd., Trans Ocean Bulk Logistics Ltd, and SIA Flexitanks Ltd.

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Intelligent Building Automation Technologies Market Analysis, size and Growth to 2020

Intelligent building automation system (BAS) enables the user to monitor and control their building performance. It helps in enhancing efficiency and performance of energy utilization in buildings, allows managing lighting and HVAC devices. It also helps in reducing the operating costs and energy usage. The solutions provide ventilation, heating, lighting management, air conditioning management, digital energy networks, building data analytics, automated fault detection, micro-grid management, and automated demand response.

BAS solutions enhance management activities of the entire building through easy to use and simple software interfaces that can be accessed using smartphones, tablets, and laptops irrespective of the access location. All these features help in efficient management of a building. Focus on eliminating CO2 emissions, reducing operating costs of the systems, various initiatives taken by governments, benefits for real estate developers, growth prospect for developers, and high return on investment for the end users are factors expected to drive the global market.

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Increasing need for enhanced security and safety in intelligent buildings is also expected to considerably fuel market growth. Adoption of various protocols of building automation, development of open-ended architecture, providing technological information, implementation of intelligent building systems in residential buildings are expected to support market growth on a large scale. However, unavailability of skilled labor, lack of awareness among the end users, lack of promotions, and high initial investments may pose a challenge for market growth in the forecast period. Commoditization of the systems and development of comprehensive valuation model may act as market opportunities for the market players. Misaligned regulations and lack of uniformity in the implementation of technology have been the major issues in the market growth.

Physical security systems, life safety systems, and facilities management systems are the major product segments of the intelligent building automation technologies market. Life safety systems segment is expected to witness the fastest growth over the forecast period due the presence of various features such as emergency service during fire and earthquakes; whereas demand for physical security systems is expected to grow on a large scale, followed by facilities management system. Facilities management systems are expected to be the largest contributor to this market.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:

Sherry James

Corporate Sales Specialist, U.S.A.

Grand View Research, Inc.

United States

Phone:  1-415-349-0058

Toll Free:  1-888-202-9519

Email:  sales@grandviewresearch.com

Website: Grand View Research

Internet Data Centers Market Analysis, Size and Share to 2020

The internet data centers market is expected to experience significant growth over the forecast period owing to continuous upgrading, maintenance, and large number of available applications. Growing usage of cloud computing coupled with the need for ubiquitous and sensitive data has stimulated the internet data centers market growth. Internet data centers provide maintenance of all resources through applications as well as integration of networking and server storage. The internet data centers are expected to have enormous market through the next six years owing to varied functionalities they offer. The internet data centers market has application areas such as cloud storage, application servers, Customer Relationship Management (CRM) systems, data warehouses, Enterprise Resource Planning (ERP) systems, and file servers. Other applications include enhancements in server capabilities, rise in information availability, augmented data access, easy setup, transparency of end-users, and platform-independence.

Growing implementation of cloud computing coupled with the need for sensitive and ubiquitous data is expected to drive the market. Internet data centers help in overcoming complications of flexibility, scalability, reduced costs, and manageability. The internet data centers manufacturers have produced high-performance servers that handle an increasingly large number of client requests. Deployment of internet data centers in hybrid clouds and heterogeneous environments is projected to be a key market opportunity in the near future. 

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The market is segmented on the basis of solutions, end-users, verticals, and services. On the basis of solutions, the market comprises of networking, servers, and storage solutions. On the basis of end-users, the market is categorized into enterprises, cloud providers, and colocation providers. Based on verticals, the market can be categorized into banking, financial services, insurance, media &entertainment, and government. On the basis of services, market is divided into professional services, system integration, and monitoring services. Improvements in key competencies such as reliability, security, and multi-tenancy are expected to increase the acceptance of internet data centers over the forecast period.

North America is estimated to be a leading market for internet data centers. Rising demand for internet data centers in the Asia Pacific region is estimated to significantly propel the market through the next six years. Emerging market players in developing countries such as India and China are expected to increase their global presence through the next six years. However, the Europe market is expected to grow at a considerable rate over the forecast period.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:

Sherry James

Corporate Sales Specialist, U.S.A.

Grand View Research, Inc.

United States

Phone:  1-415-349-0058

Toll Free:  1-888-202-9519

Email:  sales@grandviewresearch.com

Website: Grand View Research

Smart Machines Market Analysis, Size and Growth to 2020

Machining systems and tools have undergone substantial growth in recent years. Technological advancement along with research and development activities has led to the development of smart machines. Smart machines are devices or systems that integrate machine to machine (M2M) technology, which enables them to solve problems or make decisions without human intervention. These systems possess the capability of performing repetitive tasks at high speeds and high accuracy.

Smart machines operate autonomously and help prevent and correct numerous processing errors caused by drift of thermal working point, changing conditions in the raw material or wear and tear of the mechanical components. These systems can provide status updates to a high-level control system through the exchange of information with other automation systems.

Furthermore, equipped with an extensive sensor network, smart machines are capable of holding information about an array of processes, machine condition, and their environment, thereby enhancing the quality and the uptime. Smart machines learn through application-specific algorithms and can improve their performance over time. Technological proliferation is expected to be the key factor driving the demand for smart machines. In addition, favorable government initiatives are expected to spur market demand. Rise in the number of investments by various enterprises to improve operational efficiency and productivity is expected to drive the market. Further, increasing

Rise in the number of investments by various enterprises to improve operational efficiency and productivity is expected to drive the market. Further, increasing the importance of automation and need to eliminate human errors by businesses is expected to positively impact market growth. However, the possibility of excessive use of machines in place of human labor is expected to lead to the rise in issues regarding unemployment, which is likely to pose a challenge to market growth.

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The smart machines market on the basis of product offerings is segmented into smart embedded systems, autonomous robots, neurocomputers, expert systems and intelligent assistants. Expert systems comprised medical decision support system and smart grid among others and accounted for the largest market share, closely followed by the autonomous robots segment. Further, the advanced robots offer more flexibility and adaptability owing to which this segment is expected to dominate the market during the forecast period. 

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:

Sherry James

Corporate Sales Specialist, U.S.A.

Grand View Research, Inc.

United States

Phone:  1-415-349-0058

Toll Free:  1-888-202-9519

Email:  sales@grandviewresearch.com

Website: Grand View Research