BYOD Industry Revenue, Sales and Forecasts, 2022

The global bring your own device (BYOD) market is projected to exceed 350 billion by 2022 from USD 94.15 billion in 2014. Widespread adoption of devices, like tablets, smartphones, and laptops can positively affect the market over the forecast period (2016 - 2024). BYOD enables employees bring their own devices to work. This not only reduces hardware & device costs but also boosts employee productivity & satisfaction.

4G LTE services offered by telecom companies can drive the BYOD market in both developing & developed economies. High demand for mobile phones owing to their low prices and low voice calling tariffs may boost the Asia Pacific market till 2024.

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BYOD increases the possibility of security risks, such as device thefts, tracking data, and hacking. Oftentimes, when employees using their own personal devices at work, leave an organization, take with themselves crucial organizational data & information. Moreover, device seizure & data loss and governance & compliance issues can restrain market demand.

The BYOD market is fragmented into software, end-uses, devices, and regions. Software is divided into Enterprise Mobile Email Management (EMEM), Mobile Application Management (MAM), Mobile Devices Management (MDM), Enterprise Mobile Content Management (EMCM), and Telecom Expense Management (TEM). Improvements in IT technology can further increase the adoption of BYOD, thus propelling market growth.

Based on end-use, the industry is segmented into mid-to-large sized businesses and small businesses. A number of companies are taking to the ‘BYOD’ concept to minimize both operating expenditure (OpEx) and capital expenditure (CapEx). Employees too, share the costs incurred on their devices. This in turn, lowers the costs borne by the company.

Small & midsized businesses (SMBs) use MDM (Mobile Device Management) solutions to manage their mobile devices and to increase security. A number of vendors have also introduced tailor-made solutions for SMBs to capitalize on their growth prospects. With a 75% market share (in terms of revenue), mid-to-large sized businesses dominated the industry in 2013. BFSI (Banking, Financial services and Insurance) and healthcare will play a key role in driving the worldwide BYOD market. The growing need for coordinating with customers & co-workers and for remote access to information can boost the adoption of ‘BYOD’ in BFSI.

Based on devices, the industry is segmented into smartphones, tablets, and laptops. Owing to high demand & popularity, ‘smartphones’ dominated the market with a 55% share in total revenues in 2013. Since, tablets possess features of both laptops and smartphones, they are a widely preferred choice among consumers. This may aid in market penetration and greater adoption of tablets in BYOD.

Regions include North America, Europe, Asia Pacific, and Rest of the World (RoW). North America generated more than USD 25 billion in 2013. The region will continue to dominate the global market during the forecast period. The ‘work from home’ option coupled with low provision rate of corporate mobile devices could increase the adoption of BYOD.

The Asia Pacific BYOD market is a rapidly growing one. Factors fueling this region are the robust use of smartphones and tablets and their subsequent impact on information technology. Even though there are a large number of employees who use their own devices for work purposes, the absence of formal policies supporting BYOD is a major challenge in this region.

MobileIron, Cisco Systems, Good Technology Inc., and IBM Corporation are the prominent players in the global BYOD market. These companies give considerable importance to talent retention, operational simplification, and cost reductions for enhancing their respective market shares.

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Online Information Collection for Research & Educational Purpose is Projected to Fuel the Growth of E-books Market

The global E-book Market is set to reach USD 29.43 billion by 2024, primarily driven by the advancement in technology, rising population of educated youth, increasing smartphone penetration across the globe, government policies promoting smart education, free accessibility and e-book reader applications. Moreover, the availability of an online translation of e-book in various local languages is anticipated to drive the market over the forecast period.

Asia Pacific is anticipated to witness the fastest growth over the forecast period on account of rising adoption of smartphones and other digital reading platforms such as Adobe eBook platform and Kindle. India and China have a large number of educational institutes than any other country in the region. These educational institutes are preferring e-books over the conventional books to reduce the space as well minimize the cost attached to with paper books.

Over 60% of the books sold in this region are educational owing to the higher number of educational institutes. Preference of digitalization, especially journals in STM (Science, Technology and Medicine), to access a larger volume of data seamlessly is expected to propel growth. This factor is expected to drive the growth of the nonfiction & education segment, resulting in 28.4% contribution to the overall market by 2024.

Fictional books contributed to the largest revenue share in 2016. The demand for the genre has been increasing on account of consumer preference for leisure reading, and the segment is expected to grow at a 7.8% CAGR over the forecast period.

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The industry has been characterized by the presence of big companies that have been operating in the market for a substantial period including Amazon, Hachette, Harper Collins, Penguin Random House and Kensington Publishing. These companies have been focusing on marketing strategies on expanding the reach of the market to consumers located in urban as well as rural areas. These companies are also expanding their user base within cities.

For instance, Kindle Unlimited is a new feature launched by the firm which gives users access to the thousands of audiobooks and e-books every month. This app also has a library management feature which helps readers to organize e-books without any difficulties. The popularity of digitization and accessibility is expected to grow in tandem with the development of digital books industry.

Hexa Research has segmented the global E-book market based on genre and region:

Segmentation by Genre, 2014 - 2024 (USD Million)
• Fiction
• Nonfiction & education
• Literature
• Children’s book
• Comics & graphic novels
• Others

Segmentation by Region, 2014 - 2024 (USD Million)
• North America
    • U.S.
• Europe
    • Germany
    • UK
• Asia Pacific
    • China
    • India
• Rest of World

Key players analyzed
• Amazon
• Hachette
• Harper Collins
• Penguin Random House
• Kensington Publishing
• Bloomsbury India
• LuLu

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

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ATM Market : Technological Breakthroughs and Innovative Security Standards

The ATM Market (Automated Teller Machines Market) is estimated over USD 26 billion by 2024, growing at nearly 10% CAGR during the forecast period (2016-2024). It was valued about USD 12.5 billion in 2015. Technological breakthroughs and improved safety amid rising wireless devices will drive the ATM market in the next eight years. This can result in lessened frauds and safe consumer financial transactions.

ATMs find active encouragement from banks and other financial institutions. They help reduce bank queues. These machines benefit customers by assisting them make cash withdrawals, transfers, and deposits. They are adopted widely since they provide a multitude of options for fiscal transactions.

Online cash transfers and other transaction modes hinder the ATM market. Introduction of solar & smart ATMs across India and China is expected to provide industry opportunities. Rising competition among banks to expand their customer base should give the market a fillip.

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The ATM industry, divided on the basis of solutions, includes managed services and deployment. Deployment has enabled customers to avail banking services 24/7. It accounted for 70% revenues in 2014. This was attributed to growing IT companies worldwide. Worksite, offsite, onsite, and mobile ATMs constitute deployment solutions. Worksite is expected to generate over USD 2.6 billion by 2024.

Onsite machines are installed within bank premises. They reduce staff-pressure and error-probability. These factors would drive sub-segment demand in the near future. Mobile ATMs decrease customers at trade fairs and sports events. They may grow at a CAGR close to 13% till 2024. These machines give banks the chance to lessen the traffic at populated places and extend their reach. 

Managed services allow banks to move their non-core activities to trained service providers & concentrate on their core business. They are involved in retaining customers & offering cross-selling opportunities. Managed services will grow at a CAGR above 11% from 2016 to 2024. Their outsourcing can bring good returns, complying with regulatory policies. Firms such as Diebold Inc. and Wincor Nixdorf AG provide such services at low costs.

In view of regions, the ATM market consists of North America, Asia Pacific, Europe, and the MEA (the Middle East & Africa). North America dominated in 2014 but will face a decline till 2022. Its trend of trading in digital currency has encouraged the adoption of Bitcoin ATMs in the region. The U.S. is the best market (in terms of performance), bound at over USD 9 billion by 2024. Its integration of biometrics, remote assistance, & video conferencing can drive regional sales. U.S. banks have implemented Europay/Visa/MasterCard IC encryption to ensure added security.

Europe is predicted to experience a similar trend on account of saturation and rising operational costs. Asia Pacific will grow at a CAGR above 12% during the forecast period due to its self-service machines and ever-increasing customer base.

Increased IT dependence has led players of the global market to create devices with multiplatform compatibility. Notable players are GRG Banking, Nautilus Hyosung, Euronet Worldwide, and NCR Corporation. Mergers and acquisitions are one of the strategies adopted by companies to maintain industry hold. For instance, Euronet acquired Pure Commerce in 2013 to broaden its global reach.

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

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Demand for Automation is Driving the Gesture Recognition Market

The global Gesture Recognition Market to reach USD 21.10 billion by 2024, driven by an increasing demand for automation to provide the convenience of use to the consumer. Other attributes such as seamless use, user-friendly interface and high accuracy are anticipated to propel the growth of the market over the projected period.

North America was the largest market for gesture recognition due to the presence of a large-scale gaming sector. High demand for the latest innovations in digitalized electronics is anticipated to drive the growth. However, countries such as China, India and Japan are likely to drive the Asia Pacific industry growth at a CAGR of 32% over the projected period.

Conventional technologies such as 2D are fast being replaced by 3D in numerous consumer applications such as televisions, gaming consoles and laptops. The availability of a large number of games with virtual & augmented reality is expected to propel the growth of the market. Gaming consoles accounted for over 50% of the market share, and this trend is expected to continue over the next few years.

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Gaming apps for sports and dating are expected to witness the highest growth on account of their ability to provide consumers with a real-life experience due to complete body movement mapped with skeletal models. Apps such as Tinder and Pokemon Go have gained tremendous popularity since their launch, and this trend is expected to continue over the projected period.

Increasing integration of gesture recognition with augmented reality is poised to drive market growth over the expected period. Moreover, expanding application scope in automotive & healthcare sectors is likely to propel the growth of the gesture sensing industry. For instance, in May 2017, Skoda launched Karoq which boasts of various features that are controlled by gesture recognition.

Companies such as Intel, Microsoft, Samsung, Sony and SoftKinetic are some the key players in the global touchless sensing industry. Some of these players including Samsung and Sony are incorporating the gesture recognition software in their products such as mobile phones and televisions.

The global market is anticipated to witness growth over the projected period on account of rising consumer demand for consumer electronics. High disposable income of consumers coupled with frequent launches of advanced electronics is likely to fuel the growth of the market over the projected period.

Hexa Research has segmented the global gesture recognition market based on technology, applocation and region:

Segmentation by technology, 2014 - 2024 (USD Million)
• 2D
• 3D

Segmentation by application, 2014 - 2024 (USD Million)
• Tablets & Notebooks
• Smartphones
• Gaming Consoles
• Smart Televisions
• Laptops & Desktops

Segmentation by region, 2014 - 2024 (USD Million)
• North America
    • U.S.
• Europe
    • UK
    • Germany
• Asia Pacific
    • China
    • India
• Central & South America
• MEA

Key players analyzed
• Intel
• Microsoft
• Sony
• Samsung
• ArcSoft
• PointGrab
• SoftKinetic
• CrunchFish
• Google Inc
• EyeSight

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

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Email: sales@hexaresearch.com

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Growing Demand of Mobile Wallet Market is due to Increasing growth of Mobile Internet Application and Smartphone Penetration

Mobile wallet is the electronic wallet that provides reliability to the consumers to purchase electronically and to make payments online. According to the study by Hexa Research, Mobile Wallet Market is estimated to reach over USD 2,950 billion by 2020. Increasing growth of mobile internet application and Smartphone penetration, are expected to serve key market drivers over the forecast period. The global mobile wallet was estimated to comprise over 200 million users in 2013, expected to reach over 1,420 million users by 2020, with growing CAGR of 30.0 % from 2014 to 2020.Retail being the largest application area in 2013, contributed for over 39% of global market.

This can primarily be attributed to initiatives to equip retail stores with easy mobile device payment options along with integration of POS terminals and several loyalty schemes that results in better customer engagement. North America dominated the Mobile wallet industry globally, contributing in largest market share in terms of revenue. The early adaption of advanced internet services like 3G and 4G are the major factors promoting the mobile wallet industry in this region. Asia Pacific is likely to witness lucrative growth over next five years due to rapid increase in awareness about online payment and mobile wallet services. Asia Pacific contributed for over 30 % of Mobile wallet market volume globally. This region is likely to witness the rapid growth over next five years.

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The mobile wallet payment is divided into methods such as person to person payment (P2P) and customer to business payment (C2P) on basis of transaction targets. It is further divided into Proximity payment and Remote Payment. Remote payment is the process where the customer makes payment through short range of communication technology such as Bluetooth, infrared, near field communication and RFID. In remote payment method, the user makes payment with mobile devices and operates back end system through communication network.

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

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Cloud Security Market Driven by Increasing Adoption of Security Solutions

The global Cloud Security Market to reach USD 12.64 billion by 2024, driven by the increasing use of cloud services for data storage and curbing advances of cyber-attacks. It can be a product or solution focused on the security of compliance, governance and data protection.

Cloud-based services for data storage have increased over the past few years. Furthermore, companies are transferring their data to these servers owing to flexibility and cost saving. It is also used in non-traditional sectors such as online gaming and social media due to high storage space.

Cloud identity & access management were widely used followed by email & web security owing to increasing demand for high-level security of data and identity security in organizations. Public services held 35.6% of the market share in 2016 owing to its strong security track record and transparency of leading cloud providers. However, hybrid deployment is estimated to be fastest growing market owing to cost saving model, improved security, and enhanced organizational performance.

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Demand for safety solutions in government agencies, healthcare, e-commerce, insurance, and banking has been increasing as a result of rising incidence of cyber-attacks. Large scale enterprises are increasingly adopting cloud security services owing to frequent attacks on data centers. Small & medium scale enterprises are estimated to show considerable growth at a CAGR 35.1% over the forecast period as there is increased awareness of security threats.

North America is the major revenue generator owing to advanced IT infrastructure and presence of a large number of cloud security providers in this region. European countries such as U.K., France and Germany are key user countries of these solutions. Asia Pacific is expected to witness a double-digit growth over the forecast period owing to increasing IT infrastructure.

Cloud Security Alliance, a Non-Profit Organisation, was established in 2008 to promote best practices for safety in the space. The organization provides education for security in all forms of cloud services. Lack of awareness about security, inconsistent network connections in developing countries and lack of proper standards are restraining factors for cloud security market.

Active companies in the market are adopting the strategy of merger & acquisition. For instance, in 2016, Symantec acquired Blue Coat to expand its operation in cybersecurity space.

Hexa Research has segmented the global cloud security market based on type, end user, deployment, vertical and region:

Segmentation by Type, 2014 - 2024 (USD Million)
• Cloud Identity & Access Management
• Data Loss Prevention (log & SIEM)
• Email & Web Security
• Cloud Database Security (Virtualisation)
• Cloud Encryption
• Network Security (Firewall)

Segmentation by End User, 2014 - 2024 (USD Million)
• Large scale enterprises
• Small & medium scale enterprises

Segmentation by Deployment, 2014 - 2024 (USD Million)
• Public
• Private
• Hybrid

Segmentation by Vertical, 2014 - 2024 (USD Million)
• Healthcare
• BFSI
• IT & Telecom
• Government
• Retail
• Others

Segmentation by Region, 2014 - 2024 (USD Million)
• North America
    • U.S.
• Europe
    • UK
• Asia Pacific
    • China
    • Japan
• Central & South America
• MEA

Key players analyzed:
• Trend Micro Inc.
• Intel Security
• Symantec Corporation
• International Business Machines Corporation
• Cisco Systems, Inc.
• CA technologies
• Fortinet, Inc.
• Sophos Ltd.
• Ciphercloud, Inc
• Check Point Software Technologies Ltd.

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

Felton Office Plaza

6265 Highway 9

Felton, California 95018

United States

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Email: sales@hexaresearch.com

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3D Scanner Market is Predicted to Reach USD 7.4 billion by 2024

The global 3D Scanner Market is expected to reach USD 7.4 billion by 2024. It should grow at a CAGR over 11.5 % during 2016 to 2024 (forecast period). Wider adoption of these devices in applications; such as rapid prototyping, quality control, reverse engineering, etc. will augment growth of this industry. Software & hardware providers lay stress on workflow enhancement & usage convenience, thus boding well for the market and propelling its sales.
  
The workflow is generally complicated for those new to 3D scanning. This coupled with costly scanners hampers the growth of 3D scanners. However, the demand for accurate, quick, & effective results primarily would drive the 3D scanner market. In addition to this, scanner properties; like affordability can also propel the market. ‘Handheld 3D scanner’ & technological expansion are projected to drive the industry demand in the near future. The market is categorized into products, ranges, applications, and regions.

Products include structured light, laser, and optical. Laser scanners led the market in 2013. However, optical and structured light are anticipated to grow rapidly. Optical scanners should grow at a healthy CAGR (over 11 %) during the forecast period. Ranges consist of short, medium, and long. Short range scanners dominated in 2013. They will maintain their dominance till 2024. Medium is likely to gain considerable shares, at a CAGR of 11 % till 2024. Long range is said to be growing slowly due to its high costs.

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Applications in the 3D scanner market are aerospace & defense, industrial manufacturing, healthcare, entertainment & media, and engineering & architecture. Industrial manufacturing reigned in 2014, accounting for 30 % shares. 3D scanning can be a critical component of quality & inspection control across construction industry.

Entertainment & media should witness the highest growth. It is estimated to reach USD 600 million by 2024, at a healthy CAGR of 13 %. Rising significance of market devices in architecture may be attributed to the advent of portable 3D scanners. 3D scanners help in archiving and preserving architectural pieces from museums. Engineering & architecture will hold over 12.5 % shares by 2024.

Geographically, the worldwide 3D scanner market is fragmented on the basis of Europe, North America, Latin America, Asia-Pacific, and RoW. North America reigned in 2013 and can lead over the forecast period. Latin America is said to be the most lucrative region. It is predicted to exceed USD 750 million by 2024, at a CAGR of 13 % in the near future.

The same would be attributed to rising adoption of 3D scanners across various application and end-user industries. Asia-Pacific held over 23% shares in 2014. This region is expected to grow rapidly, surpassing incomes worth USD 1.5 billion by 2024. Major companies in the global market comprise Basis Software Inc. (Surphaser); 3D Digital Corp.; Topcon Corp.; and FARO Technologies.

The industry is marked by strong rivalry and often indulges in mergers & acquisitions. Firms cater to different sectors; like manufacturing, aerospace, education & research, and consumer goods. Introduction of ‘quality’ & ‘affordable’ 3D scanners provide future market prospects. 


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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

Felton Office Plaza

6265 Highway 9

Felton, California 95018

United States

Phone: +1-800-489-3075

Email: sales@hexaresearch.com

Website - https://www.hexaresearch.com