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Blockchain Market in the Energy Sector – Growth, Trends and Forecast (2019 – 2024)
| Information & Communications Technology | Published by: Mordor Intelligence | Market: |
| 95 pages | Published: 13-06-2019 |
- Information & Communications Technology
- Mordor Intelligence
- 95 pages
- Published: 13-06-2019
Market Overview
The Blockchain Market in the Energy Sector market is expected to register a CAGR of over 67.23 % during the forecast period 2019 – 2024. The blockchain technology, which has greatly benefitted the financial sector, finds applications in the energy sector predominantly for wholesale energy trading. However, the increasing number of use cases and efforts from the regional blockchain associations are promoting the adoption of the technology for various other applications like smart contracts and digital identification.
The increasing investment activity across the emerging vendors, like LO3 and Electron, among other 100+ startups, in the market enable the vendors to actively invest in more research and innovation for developing blockchain solutions for the energy sector. Considering that the innovation would be user-driven, such investments would increase the trust among the energy market participants to adopt blockchain technology.
Utilities are expressing their interest in the technology by investing in blockchain startups. For instance, Utilities like Tokyo Electric Power Company, a Japanese utility company has invested in the Energy Web Foundation, to accelerate the commercial deployment of blockchain technology in the energy industry. In 2017, the Japanese utility has also made investments in Electron, a UK-based blockchain vendors specializing in the energy sector.
Centrica, a prominent British multinational utility giant, is set to invest in LO3, in partnership with Braemar Energy. Similar investments have also been made by RWE, a German power company in 2017. LO3 Energy has also received investments from Siemens, a prominent player in the energy sector. The vendors are also closely working with Siemens to develop a blockchain enabled transactive energy platform for environmentally-friendly electricity.
The blockchain technology is currently under testing phase across the United States and the United Kingdom, among others. The technical and costs constraints of the blockchain technology might challenge the technology adoption in the energy sector. The blockchain technology for the peer-to-peer transactions may neither be particularly cost-effective nor can be easily scaled to support massive transaction levels in the long run. The presence of very few use cases that can emphasize on the scalability of the technology and the cost associated is the reason for the blockchain technology not being viewed as a cost-effective solution in the long run.
For peer-to-peer trading, blockchains would need to handle transactions of just a few kilowatts, which may take a minimum time span of 15 minutes. The costs associated with the transaction may be worth just a few cents in traditional methods, considering the amount of trading. The Bitcoin trading fee, for instance, has increased significantly from the last quarter of 2017 to 2018. Currently, a USD 16 fee is being imposed for a USD 25 bitcoin transaction. Such high trading fee of bitcoin and other 1600 cryptocurrencies used across regions for trading makes the blockchain technology expensive, in terms of handling huge transaction levels in the long run of peer-to-peer trading.
Scope of the Report
The energy sector has certain limitations, including high administration and transmission costs mainly, due to the centralized functioning of the sector. As blockchain addresses these issues and decreases the scope for single point failures and increases transparency across the supply chain, the technology is expected to be a noteworthy digital transformation for the sector.
The blockchain technology, which has greatly benefitted the financial sector, finds applications in the energy sector predominantly for wholesale energy trading. However, the increasing number of use cases and efforts from the regional blockchain associations are promoting the adoption of the technology for various other applications like smart contracts and digital identification. Blockchain enables energy transmission companies to track the movement of excess energy thereby managing the supply-demand bottlenecks.
Key Market Trends
Smart Contract is expected to register a Significant Growth
The Smart Contract is the computer-aided program, which encodes the different conditions and possible outcomes and moves the currency or information across the ledger using blockchain technology. Blockchain with the use of smart contracts is anticipated to reduce the number of different administrative processes, which involves the deal of execution.
The smart contract enables consumers to execute and dispatch various commodities automatically, once the trade is booked. By reducing the involvement of multiple intermediaries, Blockchain will decrease the time and costs involved in executing these transactions.
For instance, ING and Société Générale S.A. decided the first oil trade by using a prototype of the Blockchain platform, (Easy Trading Connect). ING also anticipated the usage of Blockchain would help to reduce its involvement in the transaction from 3 hours to 25 minutes, which results in 30% cost savings per transaction.
The rising acceptance of electric vehicles (EVs) and the lack of coordination between consumers and charging stations enabled the adoption of smart contract solution. As, smart contract aid the EV’s to charge or discharge based upon the needs of the electric grid, which enables the vehicles to act as mobile batteries and to help stabilize the grid. Furthermore, the high adoption of smart contract solutions are expected to reduce labour costs, manual and semi-automated processes, capital costs through faster settlements, and technology costs by decreasing dependency on redundant systems.
North America is Expected to Hold Major Share
With blockchain adoption in the energy sector, transactions such as energy trading can be recorded and settled almost instantly, with no need for an intermediary and with little need for reconciliation since all parties are using the same platform. North Americans as early technological adaptors are having significant adoption of blockchain in the energy sector.The region is experiencing an increasing number of investments and partnerships, since the first blockchain in energy transaction took place, in 2016, in Brooklyn, New York. Companies in the region are partnering with other countries or having high investments to develop products related to energy sector using blockchain technology.
For instance, Bovlabs, a startup working to empower clean energy, entered into a partnership with Enchanted Rock, to test blockchain’s ability to bid into wholesale markets, with the ERCOT (Electric Reliability Council of Texas), and is expected to enter as a blockchain-based retailer in energy sector.
In another instance, LO3 Energy entered into a partnership with Energy Web Foundation (EWF), to work on standardizing data for use in EWF’s blockchain, which is designed specifically for the energy industry. As said by the LO3’s CEO, creating a data standard for transacting energy across projects and users, will be vital to meeting blockchain’s potential. Omega Grid software is operating on-site at the Stone Edge Microgrid, to test the blockchain based software’s ability to calculate optimal power flow and locational price, for each asset, on 5-minute intervals, and accept the best bids from the asset to control the load.
Competitive Landscape
The Blockchain Market in the Energy Sector is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on Blockchain Market in the Energy technologies to strengthen their product capabilities. In July 2018, Microsoft Corporation announced the launch of the Enterprise Blockchain partnership, in Taiwan. The company has entered the partnership with Digital China and Hot Cool, in the hope that the three companies can use blockchain technology to enhance financial, e-commerce, entertainment, and other industries.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Emergence Of Variable Electricity Rates And Need For Peer To Peer Trading
4.3.2 Aggressive Spending By Venture Capitalists
4.4 Market Restraints
4.4.1 Scalability Constraints
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Payments
5.1.2 Smart Contracts
5.1.3 Digital Identities
5.1.4 Governance, Risk, and Compliance Management
5.1.5 Other Applications
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 SAP SE (SAP)
6.1.2 Microsoft Corp
6.1.3 Accenture PLC
6.1.4 IBM Corporation
6.1.5 LO3 Energy Inc.
6.1.6 GREENEUM
6.1.7 Drift Marketplace Inc.
6.1.8 IOTA Foundation
6.1.9 Btl Group Ltd
6.1.10 Power Ledger Pty Ltd
6.1.11 ImpactPPA
6.1.12 Electron (Chaddenwych Services Limited)
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Application
Payments
Smart Contracts
Digital Identities
Governance, Risk, and Compliance Management
Other Applications
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
North America Evaporative Cooling Market – Growth, Trends and Forecast (2019 – 2024)
| Information & Communications Technology | Published by: Mordor Intelligence | Market: |
| 100 pages | Published: 13-06-2019 |
- Information & Communications Technology
- Mordor Intelligence
- 100 pages
- Published: 13-06-2019
Market Overview
The North American Evaporative Cooling Market is expected to register a CAGR of over 3.71% during the forecast period 2019 – 2024. The North American region has been witnessing an increasing number of initiatives for sustainable energy management. Therefore, traditional air conditioning is not a feasible option. This factor is driving the popularity of evaporative cooling, which is fast becoming the most efficient option, for cooling large areas or open spaces. Evaporative cooling enables firms to gain cooling benefits without adverse effects on the environment. It has become imperative for firms to adopt sustainable practices for their production and HVAC operations, to mitigate risks of environmental pollution.
Various government standards have been implemented in the region, specifically, in the United States, for the efficient use of energy across commercial and industrial sectors, with evaporative cooling technique. Therefore, the Natural Resources Canada is considering increasing the minimum energy performance standards (MEPS) for evaporative-cooled products, to align with the MEPS in the United States, for those classes of products. As evaporative cooling makes use of a natural process, namely the reduction of air temperature by evaporating water on it, they are the preferred alternative over the traditional cooling technologies.
Evaporative coolers offer several benefits to end users, including energy savings, cost effectiveness, low maintenance, and operational requirements, besides being multifunctional (can be used in an open environment, for cooling, air purification, and ventilation). Thus, owing to favorable regulations for sustainable energy across the region, advancements in technologies and their benefits compared to traditional cooling techniques, are significantly driving the market studied.
The other major driver for the US segment is the adoption of evaporative coolers in data centers. The demand for data centers is growing at a brisk pace in the country, with the rapid adoption of Big Data, digital content, and e-commerce. Keeping these facilities constantly functional is mandatory for multinational companies operating in this space. In addition to reliability, the industry is now seeking energy-efficient solutions that have the potential to lower the operational costs and reduce carbon emissions from data center operations. In 2015, the data centers in the United States consumed more than 110 million Kwh of electricity, equivalent to the output of 500 MW coal-fired power plants.
Scope of the Report
Evaporative cooling is preferred as an alternative over the traditional cooling technologies, as it makes use of a natural process, namely the reduction of air temperature by evaporating water on it. Although it is an age-old process, it has emerged as a viable alternative to conventional air conditioning systems in areas where extremely low temperatures are not required.
Key Market Trends
Commercial is expected to register a Significant Growth
Commercial establishments are required to maintain optimal climatic conditions in order to protect the health and well-being of employees and clients. Commercial entities, such as movie theaters, hospitals, hotels, airports, and malls, among others, generally employ both evaporative coolers and air conditioners depending upon the cooling and ventilation requirements of an enclosure.
Moreover, evaporative air coolers are widely used in the aforementioned commercial establishment’s facilities, as alternatives to air conditioners. Apart from this, the market is expected to be driven by the growing adoption in small to medium enterprises instead of air conditioners, as the cost of air conditioning setup can be significantly high.
Due to the recent surge in demand for data center operations, it has become imperative for HVAC companies to offer cost and energy-efficient solutions for data centers. Data center solution providers are on the lookout for reliable solutions that are able to cut down the overall emissions.
A normal data center usually requires around 0.5 to 50MW of cooling capacity, and due to recent changes in ASHRAE guidelines, the permissible operating temperature has been raised to 27°C. This has been a major driver for the demand of evaporative air coolers in data centers. Additionally, these products do not make use of any refrigerants or CFC’s, which could further reduce the overall carbon footprint for the end-user applications.
Direct cooling is Expected to Hold Major Share
Direct evaporative air cooling is the simplest, oldest, and the most widely used type of evaporative cooling. The fan in the system pulls hot air through a dampened sponge-like pad and distributes the resulting cool air to the interior space either directly, or through ducts. Warm dry air is converted to cool moist air as the heat in the air evaporates the water. It is considered that these evaporative coolants are expected to hold a small niche market, majorly in the southern part of the United States, where relative humidity during July noon is higher than 40%.
The direct evaporative cooling systems are suitable for applications that have large heat-load removal needs and those that are open to using outside air to accomplish this. The major areas of their applications include residential sectors, commercial kitchens, and warehouses where comfort requirements are more relaxed. Hence, the system requirement depends majorly on the end users, and on the specified operational performance requirements. Residential evaporative coolers are majorly of the direct type, however, some indirect systems are also used.
Moreover, small commercial buildings are responsible for an increasing share of the US energy consumption and account for 90% of the total number of commercial buildings in the United Stares. US citizens nearly use 30% of the world’s energy, and in the country, small commercial buildings account for approximately 10% of the country’s energy consumption.
Competitive Landscape
The North American Evaporative Cooling Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
The companies operating in the market are also acquiring start-ups working on Evaporative Cooling technologies to strengthen their product capabilities. In February 2018, SPX Cooling Technologies Inc. announced the new Marley MD Everest counter flow cooling tower. The Marley MD Everest cooling tower is designed to meet HVAC demands and is suitable for a wide range of applications.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Cooling
5.1.1 Direct
5.1.2 Indirect
5.1.3 Two Stage
5.2 By Application
5.2.1 Industrial
5.2.2 Commercial
5.2.3 Confinement Farming
5.2.4 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Condair Group AG
6.1.2 Baltimore Aircoil Company Inc. (BAC
6.1.3 Munters Group AB
6.1.4 Colt Group
6.1.5 Phoenix Manufacturing Inc.
6.1.6 Delta Cooling Towers Inc.
6.1.7 SPX Cooling Technologies
6.1.8 Bonaire Group (Celi Group)
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Cooling
Direct
Indirect
Two Stage
By Application
Industrial
Commercial
Confinement Farming
Other Applications
Marketing Analytics Market – Growth, Trends, and Forecast (2019 – 2024)
| Information & Communications Technology | Published by: Mordor Intelligence | Market: |
| 110 pages | Published: 14-06-2019 |
- Information & Communications Technology
- Mordor Intelligence
- 110 pages
- Published: 14-06-2019
Market Overview
The Marketing Analytics Market is anticipated to register a CAGR of 14% over the forecast period (2019-2024). The benefits of analytics have become highly obvious for companies as the competition for the retention of customers has become a necessity for the businesses. Companies these days use multiple channels to keep the customers informed and connected with them. Analytics solution allows them to keep track of the impact of the actions taken. This has resulted in the Integration of these solutions with the existing ERP solution, which is beneficial in using the generated and available data.
Increasing need to utilize marketing budgets for an effective ROI is estimated to boost the market over the forecast period.
Further, the adoption of cloud technology and Big Data is also increasing the growth of the Marketing Analytics market.
Over the course of 2017, technology giants like Google, Adobe, Salesforce, and Oracle added more data sources to their ever-growing marketing capabilities. This particular trend is expected to continue, as businesses of all sizes work to lessen the complexity of data collection, cleansing, and usage across their organizations.
Scope of the Report
Marketing analytics software aid a company in tracking the data pertaining to traffic, leads, and sales. Implementation of marketing analytics helps the person of interest to compare between various mediums of operation, such as social media vs. blogging vs. email marketing etc. these analytics also aid in diagnosing the difficulties faced in a particular channel, and the tactical steps which need to be taken to improve the background.
Key Market Trends
Social Media Marketing Anticipated to Record
Social media marketing has been on the rise owing to many developments, such as chatbot and other applications. It is estimated that machines can generate about 20% of the content.
Chatbots have been implemented to give an enriched experience to the consumer. According to Facebook, about 100,000 monthly active bots on Facebook Messenger, which offers a variety of new platforms for marketers to connect with potential customers.
The amount of spending on social media video advertising has nearly double compared to previous years. The growth of social media, such as Facebook, integral, and Snapchat have emerged as one of the primary medium of advertising.
According to a survey done by HeyWire business about 53% of its consumers prefer the use of electronic media such as email, web chat or social instead of phone support. About 79% of consumers have been seeking other forms of consumer support. 31% have emphasized the need for text as an available support option.
North America to Hold Major Share
Many of the major market players have been in this region. Marketing budgets in the company have been increasing and companies, such as Ebiquity have been investing further in the region to increase the number of services provided. Many companies have comparatively reduced the budget expenditure in the region owing to the recent slump in the region. This decrease further emphasizes the need for an optimal spend of budgets, which emphasizes the need for marketing analytics software in the region. Use of machine learning (ML), natural language processing (NLP), and artificial intelligence (AI) has further enhanced the capabilities of marketing analytics in this region. Use of qualitative analytics and such advanced analytics tools is currently limited to large enterprises, as they are costlier solutions and demand huge resource and capital investment.
Competitive Landscape
The Marketing Analytics market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. In Jul 2017, Teradata announced the acquisition of StackIQ, a prominent developer of cloud analytics software, which has managed the deployment of cloud and analytics software at millions of servers in data centers around the world. The acquisition is expected to strengthen the R&D capabilities of the company. Further In Jun 2018, Microsoft signed a MoU with New Sales Wales to trial a major data science project based on procurement analytics.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness Porter’s Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Introduction to Market Drivers and Restraints
4.4 Market Drivers
4.4.1 Increase in Social Media Channels
4.4.2 Increasing Need to Utilize Marketing Budgets for an Effective ROI
4.4.3 Adoption of Cloud Technology and Big Data
4.5 Market Restraints
4.5.1 High cost of implementation and System Integration issues for Marketing Analytics Software
4.5.2 Availability of Many Free Open Source Software
4.6 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Deployment
5.1.1 Cloud
5.1.2 On-premise
5.2 By Application
5.2.1 Online Marketing
5.2.2 E-mail Marketing
5.2.3 Content Marketing
5.2.4 Social Media Marketing
5.2.5 Other Applications
5.3 By End User
5.3.1 Retail
5.3.2 BFSi
5.3.3 Education
5.3.4 Healthcare
5.3.5 Manufactuing
5.3.6 Travel and Hospitality
5.3.7 Other End Users
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Microsoft Corporation
6.1.3 Oracle Corporation
6.1.4 Salesforce.Com Inc.
6.1.5 Accenture PLC
6.1.6 Adobe Systems Incorporated
6.1.7 SAS Institute Inc.
6.1.8 Teradata Corporation
6.1.9 Neustar, Inc.
6.1.10 Pegasystems Inc.
6.1.11 Tableau Software
6.1.12 Google LLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Deployment
Cloud
On-premise
By Application
Online Marketing
E-mail Marketing
Content Marketing
Social Media Marketing
Other Applications
By End User
Retail
BFSi
Education
Healthcare
Manufactuing
Travel and Hospitality
Other End Users
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Mobile Satellite Services Market – Growth, Trends, and Forecast (2019 – 2024)
| Information & Communications Technology | Published by: Mordor Intelligence | Market: |
| 100 pages | Published: 14-06-2019 |
- Information & Communications Technology
- Mordor Intelligence
- 100 pages
- Published: 14-06-2019
Market Overview
The mobile satellite services market is expected to register a CAGR of over 6.2% during the forecast period 2019 – 2024. The usage of satellite communication services for IoT, as well as in the disaster management areas in developed regions, is expected to boost the market studied, over the forecast period. Mobile satellites services can find space for a various range of applications, including telecommunication, weather prediction, and navigation, military intelligence, and space exploration. Additionally, augmenting 5G mobile networks with next-generation satellite capabilities helps the mobile satellite operators in playing a vital role in the emerging 5G ecosystem.
Until recently, the MSS frequency bands were separate from the bands used for terrestrial cellular, because of, which the mobile user either needed a dual frequency band handset or two separate handsets. However, in the past decade, several system planners have proposed that segments of the MSS frequency bands be used for both terrestrial cellular and satellite communications so that the handsets might be simplified and the user’s service is always through the same service provider.
The terrestrial cellular network to support this mode of operation is called the ancillary terrestrial component (ATC). Although, this will put additional burdens on the existing frequency allocations and require special precautions to protect GPS operations in adjacent bands, conditional approvals for concept have been already obtained in the United States for the deployment of new integrated satellite and terrestrial networks using standard devices with form factors similar to current PCS/Cellular devices. There is a convergence between emerging wireless and mobile satellite services. Examples include deployment of S-Band and L-Band integrated MSS networks in the United States by ICO Global Communications (DSDB recently acquired by Dish Network), TerreStar, and LightSquared.
Interoperability is described as the ability of diverse information systems, devices, and applications to connect, in a synchronized manner, inter and intra organizational boundaries to access, exchange, and cooperatively use the data amongst stakeholders. Data exchange architectures and standards allow relevant data to be shared effectively and securely, within all applicable settings and with relevant stakeholders (including with the person whose information is being shared).
Optimally, interoperability facilitates the connections and integrations across these communication systems to occur regardless of the data’s origin or destination and ensures the data are usable and readily available to share without additional intervention by the end user. In the mobile satellite services market, the connection can happen between fixed satellite services to MSS or others as well. It requires the facilities to have the interoperability; otherwise, the function may fail.
Scope of the Report
Mobile satellite services (MSS) are the telecom services provided to mobile users with the help of satellite technology to establish communication between portable terminals or mobile devices. The availability of mobile communication beyond the terrestrial-based wireless system is a salient feature of MSS. The cost of mobile devices and the poor connection between mobile devices are key drawbacks of these services. MSS is used for emergencies such as distress, natural disasters, war zones, and breakdown of emergency communication.
Key Market Trends
Voice Segment is expected to register a Significant Growth
Companies are offering portable and fixed phone services that provide essential voice calls and messaging, for businesses operating in remote regions across the world. These voice services can be used on land, at sea, and in the air. They utilize advanced satellite communications network, offering clear voice quality and minimal call drop out.
For government agencies, voice mobile satellite services are an effective solution to manage coast guards and forest rangers, allowing them to help people on the borders and the islands. This is necessary during natural disasters.
Apart from government agencies, businesses adopt voice satellite services to ensure continuous, uninterrupted communications for their crews in the fishery, mining, transport, construction, and tourism industries. Individual customers also benefit from voice satellite services, especially those who are always on the move or working in areas without cellular networks.
Companies support polar adventurers by providing them with voice satellite services, which enable satellite connectivity for mobile devices where terrestrial networks cannot reach. For instance, Polar adventurer Antony Jinman used Iridium GO! on his Antarctica trip.
Companies are also adopting voice-based mobile satellite services to keep their employees connected with their families and close friends. For instance, Inmarsat offers one of the services called ChatCard, which helps to reduce feelings of isolation at sea, by giving crewmembers the freedom to stay in touch with family and friends, anywhere.
North America is Expected to Hold Major Share
North America, among the lead innovators and pioneers, in terms of adoption, is one of the largest markets for mobile satellite services. The growth in demand from end-user industries, such as government, maritime, aviation, among others, is boosting the growth of the market in the region. Moreover, the region has advanced foothold technological infrastructure and improved network connectivity.
The government agencies in the region have taken significant efforts to introduce new satellite and navigation systems, which have further boosted the growth of the satcom industry. For instance, in June 2018, the U.S. Air Force awarded the contract of USD 130 million to SpaceX for the launch of Air Force Space Command Satellite (AFSPC) -52 satellites in the late FY2020.
Recently, SES GS announced that the U.S. General Services Administration’s Future Satellite Communications Service Acquisition (FCSA) program had awarded SES Government Solutions the spot on the Complex Commercial Satellite Communications Solutions contract (CS3).
This will allow the U.S. Government to take advantage of most innovative offerings, including high throughput connectivity on multi-orbit satellite fleet. Complex solutions will have any combination of fixed and mobile satellite services, service-enabling authorizations, components, and ancillary equipment, such as terminals, teleports, and peripherals.
Competitive Landscape
The Mobile Satellite Services market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on Mobile Satellite Services technologies to strengthen their product capabilities. In February 2018, Ericsson and MTS established 5G research center in Russia. The two companies may leverage their expertise, latest technologies, and partner ecosystem to build prototypes and explore new business opportunities with 5G and Internet of Things.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rising Integration Demands for Satellite and Terrestrial Mobile Technology
4.3.2 Growing Interest from Government and Military
4.4 Market Restraints
4.4.1 Lack of Interoperability between MSS Systems
4.4.2 Increasing Regulations on the Use of Satellite Technology
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Service
5.1.1 Voice
5.1.2 Data
5.2 By End-user Industry
5.2.1 Maritime
5.2.2 Enterprise
5.2.3 Aviation
5.2.4 Government
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Globalstar Inc.
6.1.2 Ericsson Inc.
6.1.3 Inmarsat PLC
6.1.4 EchoStar Mobile Limited
6.1.5 Iridium Communications Inc.
6.1.6 Intelsat S.A
6.1.7 Thuraya Telecommunications Company
6.1.8 ViaSat UK Limited
6.1.9 ORBCOMM Europe Holding BV
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Service
Voice
Data
By End-user Industry
Maritime
Enterprise
Aviation
Government
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Loyalty Management Market – Growth, Trends and Forecasts (2019 – 2024)
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Security Analytics Market – Growth, Trends, and Forecast (2019 – 2024)
| Information & Communications Technology | Published by: Mordor Intelligence | Market: |
| 100 pages | Published: 17-06-2019 |
- Information & Communications Technology
- Mordor Intelligence
- 100 pages
- Published: 17-06-2019
Market Overview
Global Security Analytics Market was valued at USD 2.92 billion in 2018 and is expected to reach USD 5.4 billion in 2024 with a CAGR of 10.7%, during the forecast period (2019-2024). The rapid growth of the internet has resulted in an exponential increase in the type and frequency of cyber attacks. Although many well-known cybersecurity solutions are utilized to counteract these attacks, the generation of Big Data over computer networks is rapidly rendering these traditional solutions obsolete.
The increased pervasiveness of data breaches and the higher volume of impacted records are resulting in far higher costs for organizations of all sizes. According to ISF, an independent and not-for-profit association of leading organizations from around the world, the number, magnitude, and costs of data breaches are all set to continue on their upward trajectories in 2019.
While day-to-day cyber threats continue to increase at an exponential rate, CISOs (Chief Information Security Officer) are most concerned over the rise of targeted and advanced malware enabled attacks such as Advanced Persistent Threats (APTs).
According to statistics from IBM and Ponemon Institute, the cost of a breach in the United States estimated at USD 7.35 million or nearly double the USD 3.62 million it cost globally. As a result, organizations are increasingly concentrating on threat hunting as a preventive measure.
Scope of the Report
Security analytics is the process of using data collection, aggregation, and analysis tools for security monitoring and threat detection. Security analytics data can be collected in several ways, including Network traffic. Endpoint and user behavior data.
Key Market Trends
Network Security Analytics to Account for Significant Share
Network security applications are the largest source of demand for security analytics solutions globally. Security analysis, unlike other more well-behaved problem domains, does not naturally lend itself to statistical analysis. In most of the cases, programmers do not have the basic data that enable them to fabricate an accurate analytical engine.
Further, given the tendency of attackers to constantly adapt to changes, makes fabrication of network security analytics solutions an almost impossible task to the programmers. Also, In recent times, there have been many cases of network and web-app security failures that brought catastrophic damage to several large enterprises and governments globally.
Further, as the traditional network security analytics solutions based on the Bayesian probability theory, that states it’s possible to predict with high accuracy the likelihood of something happening by capturing every element of a problem and calculates possible outcomes mathematically, are being replaced with machine learning algorithms, due to this network security analytics solutions are getting more reliable.
Bayesian models have domain conceptual alignment and ability to reason on incomplete data, while machine learning has the sheer power and ability to cope with massive quantities of data required by modern networks, that are spreading beyond traditional applications.
North America to Account for Major Share
The Kaspersky Lab 2018 B2B Survey indicated that in North America, the average cost of a data breach for an enterprise reached USD 1.6 million (up 23% from USD 1.3 million in 2017) on average.
North America is the most expensive location for any small- and medium-scale business (SMB) to suffer a data breach compared to other regions. SMBs in the United States and Canada have the highest recovery cost, at USD 149 thousand on average (up 27% from USD 117 thousand in 2017).
End-user industries in the region have been pioneers and early adopters of analytics solution to remain ahead of competitions in other regions. This has helped enterprises and SMBs create huge databases and infrastructure to support the use of security analytics in a proactive measure.
Companies, such as Cylance Inc., the leading provider of AI-driven, prevention-first security solutions, and Securonix, a provider of SIEM and user and entity behavioral analytics, operating in North America in security analytics, announced a partnership to support the interoperability of CylancePROTECT with the new release of the Securonix Security Analytics Platform indicating the emerging trend towards cloud solution in security analytics.
Competitive Landscape
The network security market comprises of several global and regional players, with the presence of technology and networking giants such as IBM and McAfee.This market is characterized by growing levels of product penetration, moderate product differentiation and high levels of competition.
Although the market poses high barriers to entry for new players, several new entrants have been able to gain traction in the market. The firm-concentration ratio is expected to further increase over the forecast period, due to the emergence of security firms, which are looking at this market as a lucrative opportunity to consolidate their offering.
Some key players in Security Analytics Market are, Arbor Networks Inc, RSA Security LLC (RSA), Cisco. Some of the key developments in Security Analytics Market are as follows:
Ensono entered into a partnership with Alert Logic to deliver continuous monitoring, threat detection and response for Ensono’s managed Amazon Web Services (AWS) clients. Ensono will leverage Alert’s managed security service offering built on Alert Logic Cloud Defender suite to deliver increased security and compliance protection for clients’ data, workloads, and applications based on AWS.
NetScout Systems Inc. announced that the company will be exhibiting its suite of service assurance and security solutions at the Black Hat USA in Las Vegas. The company will be conducting live product demonstrations of the award-winning enterprise tools, technology, and software solutions.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Level of Sophistication of Threats And Security Breaches
4.3.2 Rise in IoT and BYOD Trend
4.4 Market Restraints
4.4.1 Lack of Data Integration and Connectivity
4.5 Value Chain Analysis
4.6 Industry Attractiveness Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Network Security Analytics
5.1.2 Application Security Analytics
5.1.3 Web Security Analytics
5.1.4 Endpoint Security Analytics
5.2 By End-user Industry
5.2.1 Healthcare
5.2.2 Defense and Security
5.2.3 Banking and Financial Services
5.2.4 Telecomm and IT
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alert Logic Inc.
6.1.2 Arbor Networks Inc.
6.1.3 Symantec Corporation
6.1.4 Cisco Systems Inc.
6.1.5 RSA Security LLC
6.1.6 Hewlett-Packard Enterprise
6.1.7 IBM Corporation
6.1.8 Logrhythm, Inc.
6.1.9 Fireeye, Inc.
6.1.10 Splunk Inc.
6.1.11 Fortinet Inc.
6.1.12 McAfee LLC
6.1.13 Micro Focus International Plc
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Application
Network Security Analytics
Application Security Analytics
Web Security Analytics
Endpoint Security Analytics
By End-user Industry
Healthcare
Defense and Security
Banking and Financial Services
Telecomm and IT
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa