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Saudi Arabia Remittance Market Future Outlook to 2027-Makreo Research

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Mumbai, India, June 29, 2022 (GLOBE NEWSWIRE) — Makreo Research has published a study on Saudi Arabia Remittance market report titled, “Saudi Arabia Remittance Market Future Outlook to 2027” is a detailed study that offers the reader to understand the market with the study of economy, remittance flow, migrant population and also government initiatives. The study highlights several macro-economy factors and industry factors that have an influence over the remittance market in the country. The report discusses market revenue and forecast and also helps to understand future expected driving forces. 

Saudi Arabia is home more than 10 million immigrants making it the second-largest country for outbound flows. The UAE’s outbound remittances fell by 3.9% to USD 43 billion in 2020, whereas Saudi Arabia’s outflows increased by 11% to USD 35 billion, underscoring the one-off effects of illness outbreaks in important recipient nations like Egypt and Pakistan.

Remittances to the Middle East and the Saudi Arabian region have increased as a result of the recovery of host nations in the European Union, most notably France and Spain, as well as an increase in global oil prices that has benefited the GCC countries. Remittances are expected to expand more slowly in 2022 because to COVID-19’s uncertainties and the considerable rise in payments made to Egypt and Morocco.

Impact of COVID-19

 Lower revenues from crude oil exports, additional income losses, and production losses brought on by COVID-19 and related mitigating actions all had an impact on the Saudi economy. Late March 2020 saw the start of a nationwide lockdown in Saudi Arabia; it lasted until late June 2020, when some restrictions on movement and employment were lifted.

Additionally, the economy was negatively impacted by the decline in crude oil exports, which led to less spending, credit, and consumption as well as decreased income and job opportunities for foreign workers in Saudi Arabia who are employed or looking for work.

Further Key Findings

  • Emerging Blockchain: The global average cost of sending USD 200 is 6.9% of the remittance limiting their full potential. Sustainable Development Goals (SDG) to reduce the cost of remittances to less than 3% and to eliminate the remittance corridors with cost higher than 5%. One of the ways through which the cost can be reduced is the adoption of blockchain technology.
  • Growing Digitization: During the crisis, Saudi Arabia took steps to make remittance services available with limited access. During this time, the use of digital channels grew as well. Consumers now have much easier access to remittance services owing to measures to enable remote account opening.
  • Artificial Intelligence: Artificial Intelligence has come a long way in providing end to end remittance solutions with embedded decision making. AI has the ability to provide continuous insights on data is connected to the enterprise resource planning platforms and also has the capability to automate low mundane tasks.
  • Tax Reform Program: According to the Global Partnership for Financial Inclusion (GPFI) National Remittance Plan of KSA 2017, the government had decided not to levy taxes on migrant remittance transfers.

The study discusses below mentioned areas in detail:

COVID-19 Impact Assessment COVID-19 has impacted many businesses and also helped some of the businesses to benefit. Remittance market is one of the benefitting sector after the COVID-19 outburst that has shifted consumer perception. The report helps to reader to understand the shifts happening in the remittance sector and inflow & outflow and simultaneously its impact over remittance flow.
Market Assessment: The report examines the Saudi Remittance market in terms of various parameters such as the inflow of remittance into the country, increasing number of migrant population, remittance industry trends and drivers and many others. The report examines market of remittance by expatriates, number of registered foreign workers, and past, present and future flow of remittances.
Players Mentioned AL Rajhi, Bank Aijazira, Arab National Bank, Bank Albilad, Saudi National Bank,

Key Questions Answered

  1. How remittance industry has performed in the past and what is the expected future scenario?
  2. How COVID-19 has impacted the Saudi economy and how economy is expected to recover in coming years?
  3. How Saudi Arabia remittance industry is placed in Middle East?
  4. What are the leading countries for remittance outflow?
  5. What is the current state of Saudi Arabia Inbound Remittances?
  6. What are the key initiatives taken by the Saudi Government?
  7. What is the role of digital remittances in the Saudi Arabia remittances market?
  8. What are the key economy factors contributing towards Saudi Arabia remittance industry growth?
  9. What are the major opportunities and challenges present in the Saudi Arabia remittances market?
  10. Who are the key players in the Saudi Arabia remittance industry?

About Makreo Research and Consulting

Makreo Research and Consulting, facilitate its clients to access wide range of research reports through its syndicated research platform and also help companies to make informed business decisions with its consulting services. Tailor-made solutions are a vital part of company’s services that offer actionable insights.

Makreo Research and Consulting is one of the best market research company in India that is known for its unique approach in conducting research study. Recently Makreo Research has published a research study on Saudi Arabia Remittance Market Future Outlook to 2027 that helps to identify the challenges present in the market and future opportunities to grab. To review the coverage, please click here https://www.makreo.com/report/saudi-arabia-remittance-market-future-outlook-to-2027


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Artificial Intelligence

Military Cybersecurity Market to Reach $68.5 Billion, Globally, by 2033 at 15.4% CAGR: Allied Market Research

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PORTLAND, Ore., May 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Military Cybersecurity Market by Type (Endpoint Security Solutions, Network Security Solutions, Content Security Solutions), Deployment (On-Premises, Cloud), and Solution (Threat Intelligence and Response Management, Identity and Access Management, Data Loss Prevention Management, Security and Vulnerability Management, Unified Threat Management, Enterprise Risk and Compliance, Managed Security, Others): Global Opportunity Analysis and Industry Forecast, 2024-2033”. According to the report, the military cybersecurity market was valued at $15.7 billion in 2023, and is estimated to reach $68.5 billion by 2033, growing at a CAGR of 15.4% from 2024 to 2033.

The global military cybersecurity market is driven by factors such as growing demand for end-point security solutions and surge in cyber-attacks which are increasing need for military cybersecurity.
Prime Determinants of Growth
The global military cybersecurity market is driven by factors such as an increase in demand for defense IT expenditure. Adoption of IoT in cyber security technology provides lucrative growth opportunities. On the other hand, limited awareness related to cybersecurity is projected to hinder market growth.
Request Sample of the Report on Military Cybersecurity Market Forecast 2033
https://www.alliedmarketresearch.com/request-sample/A323349
(We are providing Military Cybersecurity Industry report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and Russia-Ukraine War Impact Analysis)
123 – Tables63 – Charts378 – PagesReport coverage & details:
Report Coverage 
Details 
Forecast Period
2023–2033
Base Year
2023
Market Size in 2023
$15.7 Billion
Market Size in 2033
$68.5 Billion
CAGR
15.4 %
No. of Pages in Report
324
Segments covered
Type, Deployment, Solution and Region.
Drivers 
Increase in demand for defense IT expenditure to drive the market growth.
Opportunities
Adoption of IoT in Cyber Security Technology
Restraints
Limited awareness related to cybersecurity is restricting the market growth
Procure Complete Report (323 Pages PDF with Insights, Charts, Tables, and Figures)https://www.alliedmarketresearch.com/checkout-final/military-cybersecurity-market-A323349
The endpoint security solutions segment to maintain its leadership status throughout the forecast period
Based on type, the endpoint security solutions segment held the highest market share in 2023, accounting for more than two-fifths of the global military cybersecurity market revenue and is estimated to maintain its leadership status throughout the forecast period.
Endpoint security solutions are undergoing continuous evolution to combat the ever-changing landscape of cybersecurity threats. One prominent trend is the widespread adoption of Endpoint Detection and Response (EDR) solutions. EDR offers real-time monitoring of endpoint activities, allowing for swift detection and response to advanced threats.
The on-premises segment to maintain its leadership status throughout the forecast period
Based on deployment, the on-premises segment held the highest market share in 2023, accounting for more than half of the global military cybersecurity market and is estimated to maintain its leadership status throughout the forecast period. However, the cloud segment is projected to manifest the highest CAGR of 15.88% from 2023 to 2033. Moreover, cloud computing offers advanced security features and capabilities that strengthen military cybersecurity defense. Leading cloud service providers invest heavily in robust security measures, such as encryption, identity and access management, and threat detection, to protect data and applications hosted in the cloud.
The identity and access management segment to maintain its leadership status throughout the forecast period
Based on solution, the identity and access management segment held the highest market share in 2023, accounting for nearly one-fifth of the global military cybersecurity market and is estimated to maintain its leadership status throughout the forecast period. Moreover,
Identity and access management (IAM) plays a crucial role in military cybersecurity by ensuring that only authorized personnel can access sensitive information and critical systems. IAM encompasses processes, policies, and technologies designed to manage digital identities, control access to resources, and protect against unauthorized access and insider threats.
North America to maintain its dominance by 2033
Based on region, North America held the highest market share in terms of revenue in 2023, accounting for more than half of the global military cybersecurity market revenue and is likely to dominate the market during the forecast period. The advancements in sensor technology, artificial intelligence, and communication systems have contributed to the evolution of military cybersecurity, enabling greater autonomy, flexibility, and effectiveness in engaging both stationary and moving targets with reduced collateral damage.
To Talk With Our Industry Expert @ https://www.alliedmarketresearch.com/connect-to-analyst/A323349
Leading Market Players:
AT&TBAE SystemsBoeingCisco Systems, Inc.DXC Technology CompanyEclecticIQ B.V.IBM CorporationIntel CorporationLockheed Martin CorporationNorthrop Grumman CorporationPrivacera, Inc.SentineIOneSecureworks, Inc.Thales GroupThe report provides a detailed analysis of these key players in the global military cybersecurity market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.USA/Canada (Toll Free):+1-800-792-5285UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: [email protected] Web: www.alliedmarketresearch.com AMR Resource Center: https://www.alliedmarketresearch.com/resource-center
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Artificial Intelligence

Dahua Network Camera Series Obtains CC EAL 3+ Certificate

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HANGZHOU, China, May 20, 2024 /PRNewswire/ — Dahua Technology, a world-leading video-centric AIoT solution and service provider, is proud to announce that its network cameras have successfully obtained Common Criteria (CC) EAL 3+ certificate. This achievement demonstrates Dahua’s dedication to delivering secure and reliable solutions that comply with the industry’s highest information security standards and best practices.

The Evaluation Assurance Level (EAL) 3+ certificate, issued by the Common Criteria for Information Technology Security Evaluation (CC), represents a widely used industry standard for evaluating the security features of IT products and systems. It has been recognized by 31 member countries of the Common Criteria Recognition Arrangement (CCRA) organization, which consists of the United States, Germany, the United Kingdom, the Netherlands, Japan, etc.
As the most authoritative and influential information security standard worldwide, obtaining the CC EAL 3+ certificate verifies Dahua’s robust measures against potential security threats throughout the entire R&D, production, and delivery processes. This also signifies that Dahua’s information security management capabilities meet internationally recognized industry standards.
The certification process involves comprehensive testing and evaluation of Dahua’s development environment, production environment, supply chain, vulnerability assessment, personnel security, as well as many other aspects. The security evaluation is completed by SGS Brightsight, a globally renowned security assessment laboratory in the Netherlands and approved by the Netherlands Scheme for Certification in the Area of IT Security (NSCIB).
“At Dahua, we prioritize the security needs and trust of our customers above all else. With the addition of CC EAL 3+ certificate, customers can be confident that they are investing in a secure and reliable solution that delivers unparalleled peace of mind, safeguarding their assets and ensuring uninterrupted operations,” stated Max Xiang, IPC Product Director at Dahua Technology.
Dahua always follows best industry practices and maintains the highest standards of security across all aspects of the company’s operations. In addition to product security and privacy protection, Dahua implements strict quality control measures to strengthen supply chain security. Forging ahead, Dahua will remain dedicated to advancing the security industry through innovative and secure solutions, further enhancing its cybersecurity and data protection capabilities, and working with industry partners to build a trustworthy AIoT environment.
For more in-depth insights into Dahua’s cybersecurity practices, please visit www. dahuasecurity.com 
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Artificial Intelligence

AGI to Debut at COMPUTEX 2024

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TAIPEI, May 20, 2024 /PRNewswire/ — AGI Technology, a pioneering provider of high-performance storage solutions from Taiwan, will make its inaugural appearance at COMPUTEX 2024. This grant event will take place from June 4 to June 7 at the Taipei Nangang Exhibition Center, where AGI will be showcasing its latest innovations at Booth #J0218.

Event DetailsDate: June 4 – 7, 2024Time: 9:30 a.m. – 5:30 p.m.Location: Taipei Nangang Exhibition Center, Hall 1Booth: #J0218
AGI will present cutting-edge technology across three main themes:
Spotlight Innovations
– Supreme Pro TF138 2TB microSD: The world’s first 2TB microSD card, exclusively produced by AGI, sets a new standard in mass production and storage capacity.
– TURBOJET RGB DDR5 Series: This DDR5 series, featuring RGB lighting and a heat sink for overclocking, delivers exceptional performance.
– EDM38 Portable SSD for Mobile: A portable SSD with MagSafe-compatible magnetic attachment that offers lightweight portability.
Ultra-Spec Solutions
– SATA 8TB SSD: This 8TB SATA SSD is pushing the limits of consumer-grade storage, setting a new benchmark for capacity.
– PCIe 16TB SSD: A 16TB PCIe SSD that leads in the HMB domain, providing unmatched performance.
Customization Zone
AGI will showcase tailored storage solutions that meet unique customer needs.
We welcome you to visit AGI at Booth #J0218 to discover these innovations and explore collaboration opportunities.
About AGI
AGI is a leading provider of high-performance storage solutions, offering a range of innovative products that meet the evolving needs of its customers. With a commitment to delivering cutting-edge storage capacities and superior performance, AGI empowers its customers to achieve exceptional digital experiences.
Contact Information
Sales [email protected]+8862-27937256www.agi-gear.com 
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