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Global Toy market to reach USD 167.26 Billion by 2027 at a projected CAGR of 6.66%: Bonafide Research

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Clifton, New Jersey, Dec. 08, 2022 (GLOBE NEWSWIRE) — The recent research report “Global Toy Market Outlook, 2027“, published by Bonafide Research, states that the global toy market fell to USD 105.95 billion in 2020 due to pandemic disruptions. However, after the pandemic, the market reached USD 113.35 billion in 2021. Toys play a major role in developing children’s intelligence quotients, increasing motor development, and improving decision-making ability. Toy manufacturers and retailers have access to robust and cost-effective marketing channels at local, regional, and global levels. Additionally, the various explorative toys like Rubik’s cube in different forms & shapes, logical reasoning, and other toys are expected to drive future market growth considerably.

The rising expenditure on educational toys and games, especially in dual-income households, is projected to drive the demand for toys. The ability of toys to aid brain development by enhancing logical and reasoning abilities urges parents to spend on toys. The process of learning while playing also develops the social and communication skills of children. The social media influence of creating kid-friendly content is driving the toy market sales ahead. Gaming events are organized by leading players to engage more children and attract new consumer spending, which further propels demand. The popularity of online games during the pandemic acted as a major restraining factor for the growth of the toy market. The use of smartphones and tablets without the requirement of any new play toy has acted as a challenge for the video gaming industry. The skin allergies caused by dolls and playthings made from harmful chemicals also hindered market growth. High product development and promotional costs coupled with stiff competition restrict further growth. The rapid miniaturization and reduced cost of electronics allow manufacturers to introduce many new features into toys.

Key Takeaways:

  • Asia-Pacific region leads the global toy market by nearly 35% in 2021 and is further expected to continue its dominance.
  • Outdoor & sports toys, Infant/Toddler/Preschool and Dolls remains the most demanded toys driven by the increased importance of outdoor sports activities for the overall development of children.
  • The majority of the toys are demanded by the age group of 9 to 15yrs old.
  • Parents prefer buying toys through offline sales channels by reading their labels and deciding which type of toy best suits their child’s play.
  • United States & China lead the global toy market and are expected to continue further growth over the forecast period.

Opportunities & Challenges

Millennials’ growing predilection for old-school games at social gatherings is likely to propel the market’s growth over the forecast period. The incorporation of eco-friendly materials such as bamboo, wood, and others is expected to increase safety and eliminate damage from prolonged exposure to dolls and play kits. This factor is likely to boost market growth and create new opportunities for manufacturers to diversify materials used in the production of these toys. Further, the partnership strategies may enable companies to create new products and improve their brand image. A diverse base of toy producers and brands, from major companies to small and vibrant start-ups, ensures broad choices for consumers. Children’s entertainment, in particular, offers a plethora of marketing opportunities. New products have difficulty breaking through in terms of awareness and sales in a market dominated by well-known, popular existing products. Slow development times and unexpected consumer responses make for a challenging forecasting environment. Overstocking of toys and lack of availability for popular toys is a common industry occurrence.

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Covid-19 effect

The pandemic led to the forced shutdown of schools and educational institutions, causing children to be confined to their homes and spend time there. This helped the demand for playing figurines and the popularity of educational and construction activity-related toys and games to rise. Though demand was high, the market diminished in value due to supply chain delays and production facilities being closed down. However, with the sales returning to normalcy in 2021, the revenue increased rapidly. The retail sales channel suffered as parents sorted to online ordering of toys due to the fear of the virus spreading to children. Since the retailers saw a fall in demand, the restocking of toys wasn’t possible with the latest products.

By Product type

Outdoor and sports toys were the most popular toy types and are projected to witness healthy growth in the coming years which will aid the overall market growth. The growth was aided by the demand for playground equipment, water, and sand toys and accessories, skateboards and scooters, pools, sports activities, and game accessories. The growing awareness of the development of motor and coordination skills in children with the help of outdoor sports has further propelled the growth of the outdoor and sports toys segment.

Infant/Toddler/Preschool toys are escalating for infants and toddlers among parents across the globe. This results in higher revenues from infant teething and chewing play toys, thereby increasing the overall growth of the segment. Furthermore, the demand for explorative and other toys is projected to be in rapid demand.

Trends

Playschools are offering science, technology, engineering, and mathematics (STEM) toys, such as boxes, blocks, musical instruments, and jigsaw puzzles, in their education to instill creativity and problem-solving skills in kids. Apart from this, the thriving e-commerce industry, on account of the increasing reliance on smartphones and the growing internet penetration, is driving the sales of innovative electronic and digital toys over conventional battery-operated toys. Furthermore, the increasing popularity of tech-savvy electronic toys among children as well as adults that depict action figures like Batman, Superman, Ironman, and Captain America is contributing to the market’s growth. Consumer expenditure on video content, virtual reality items, and video game tournaments has increased significantly as technology advances. The rising trends of family gathering and socialization are responsible for the adoption of play kits. The rising trend of gift-giving is expected to fuel product demand from consumers.

To access the complete report: https://www.bonafideresearch.com/product/210419921/global-toy-market

Regional Analysis

The Asia-Pacific region leads the global toy market, led by China’s contribution to the production and exports of toys. Asia-Pacific is the second-largest market for traditional toys and games and remains one of the fastest-growing regions. However, Asia-Pacific has a declining birth rate and the lowest per-household expenditure on traditional toys and games. The region is still expected to enjoy good value growth due to rising disposable incomes, smaller average household sizes, and the premiumization trend and product innovation. The boom of internet retailing has given rise to good opportunities for counterfeit traditional toys and games to be distributed and sold widely to consumers who are looking for affordable products. The major factor expected to drive the prosperity of the Asia-Pacific Toys & Games market is the rising preference for educational toys other than core skills.

The Middle East and Africa is the second fastest-growing region for toys over the forecast period, with a growth rate of 9.10%. Toys and games are an emerging market in the Middle East and Africa, driven mainly by a recovering economy, increasing disposable incomes, and high birth rates. The region holds very good prospects for traditional toys and games due to increased spending on baby and child-oriented products and a shift towards premiumization. With an expected average of 3.9 children born per female during the forecast period and rising disposable incomes, demand traditional toys and games is expected to be driven by baby and child-oriented products. Outdoor sports, educational toys, explorative toys, and dolls hold the majority of the market share in the region.

The North American region has one third of the market share in Global toys market and further expected to be driven by large scale sale of toys in the United States. Lego, hot wheels and fisher-price are the top selling toy brands in America. The rising gift-giving market trend among the population is further expected to drive growth in the region. Moreover, increased spending of consumers in the state has increased expenditure on buying of toys. American parents prefer to buy toys either through online sales channel or from departmental stores. The most popularly bought are the outdoor and sports toys in the region.

Germany and United Kingdom are large scale importers of toys from the European region. The players are incorporating new technologies to create interactive and educational toys. New technologies like holograms, artificial intelligence and others are being incorporated with traditional toys to make toys more interactive and responsive. 3D technology is the latest revolutionary invention that is expected to improve creativity among children and boost toy customization. Brand conscious consumers prefer buying from reputed brands so as to get quality products as they are more durable and have multiple features. 

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Companies are actively shifting their product offerings by launching e-stores and retailing products through e-commerce platforms, such as Amazon, Wal-Mart Online, and eBay, among other regional platforms, as online platforms have emerged as a viable and cost-effective alternative to physical marketing and sales. Key market players focus on strategies, such as mergers and acquisitions, innovation, and new product launches, to enhance their market share. The growing expansion of the major players in Saudi Arabia and the UAE is likely to provide some ease in the supply chain of gaming consoles, thereby supporting market growth. Companies are also focusing on expanding their overall product portfolio through regular product innovation activities. Additionally, they establish partnerships with film production companies and social media channels to build their brand image. Some of the key players operating in the global toy market are LEGO Group, Mattel Inc., Hasbro, Bandai Namco, Vtech, Playmobil, Ravensburger, Jakks Pacific Inc., and others.

Considered in the Report

  • Geography: Global
  • Base year: 2021
  • Historical year: 2016
  • Forecasted year: 2027

Table of Content

1.    Executive Summary
2.    Research Methodology
3.    Market Structure
3.1.  Market Considerate
3.2.  Market Definition
4.    Economic /Demographic Snapshot
5.    Global Toys Market Outlook
5.1.  Market Size by Value
5.2.  Market Share
5.2.1.    By Region
5.2.2.    By Country
5.2.3.    By Company
5.2.4.    By Age Group
5.2.5.    By Product
5.2.6.    By Distribution Channel
6.    North America Toy Market Outlook
6.1.  Market Size by Value
6.2.  Market Share
6.2.1.    By Country
6.2.2.    By Age Group
6.2.3.    By Product
6.2.4.    By Distribution Channel
6.3.  US Toy Market Outlook
6.3.1.    Market Size by Value
6.3.2.    Market Share
6.3.2.1.        By Age Group
6.3.2.2.        By Product
6.3.2.3.        By Distribution Channel

 TOC continued….

Market Segmentation Details
By Product
  • Action Figures & ACC
  • Arts & Crafts
  • Building Sets
  • Dolls
  • Games/Puzzles
  • Infant/Toddler/Preschool
  • Youth Electronics
  • Outdoor & Sports Toys
  • Plush
  • Vehicles
  • Explorative & Other Toys
By Age Group
  • 0-8 years
  • 9-15 years
  • 15 years and above
By Distribution Channel
  • Online
  • Offline
By Region
By Country
Company profile: 
  • The LEGO Group
  • Mattel
  • Hasbro
  • Bandai Namco
  • Vtech
  • Brandstatter Group (Playmobil)
  • Ravensburger
  • Jakks Pacific, Inc.
  • Dream International
  • Clementoni
  • Goliath Games
  • Kids II, Inc.
  • K’Nex Industries Inc.
  • Artsana Group
  • Nintendo Co. Ltd
Other Market Details
  • Key Drivers & Key Challenges,
  • Market Trends and Developments,
  • Strategic Recommendations

To buy the research report: https://www.bonafideresearch.com/buy-now/210419921

Contact us:

Steven Thomas – Sales & Marketing Manager
E-mail: [email protected]
Asia-Pacific: +91 7878231309
Europe: +44 20 8089 0049
North America: +1 201 793 8545 
https://www.bonafideresearch.com/

About us:

Bonafide Research is the fastest growing global market research and consulting company, providing syndicated research reports, customized research reports, and consulting services to a range of verticals. They have been closely working with a wide client base ranging from Fortune 1000 companies to small and medium enterprises, helping them track the constantly changing market scenario. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. Bonafide Research has a strong base of analysts and consultants from assorted areas of expertise who track the latest economic, demographic, trade, and market data globally and help clients make informed business decisions. They periodically update their market research studies to ensure that their clients get the most recent, relevant, actionable, and valuable information for strategy development and to extract tangible results.

Other Reports

Global Baby Rocker Bouncer & Swing Market Outlook, 2026 by Bonafide Research analyses trends for the market. The market is divided into different product categories of Baby Rocker, Baby Bouncer, and Baby Swings, while by type; it is classified into electric & manual. With the technological advancement, these products now have complex added features with ease of use, and thus growing into a potential market. In 2026, the market is expected to cross a value of USD 4268.47 Million. Electric bouncer of electric rocker runs of electric supply providing constant motion until the parents turn it off. It is preferred more nowadays as it is easier to use and doesn’t require manual labor. However, it doesn’t lead the market given the fact that they are more expensive than the manual mode.

Global Bath Tub (hammock, inflatable, foldable/collapsible, others) Market Outlook, 2026 grew with a CAGR of 2.64%. The recent innovation in the bath tub segment is the temperature gauge, which is colour changing drain plug or a sticker like strips. Some of the premium tubs come with a digital gauge. However, the parents prefer bath tubs with smooth edges and an overhanging rim, as it makes handling easy and much less likely to scratch the baby. Even though the market has large number of players, the threat from local players is increasing.

In the latest research report published by Bonafide Research, under the title of Global Convertible Baby Cribs & Cots Market Overview, 2021-2026 analyses the market based on the segment of the region, countries, sales channels, and companies. Among the overall cribs and cot market, the convertible cribs & cots held the largest market share. Convertible cribs and cots have been much popular among people for their easy detachable bed rails and cost-effectiveness. The longer durability of the convertible cribs and cots and the constant innovation by the marketers are expected to allow the market to grow. DaVinci Baby’s product range of Kalani 4-in-1 Convertible Crib is one of the popular convertible cribs which can be converted into a toddler bed, day bed, and a full-sized bed for kids.

Global Baby High Chair Market Outlook, 2026 a recent publication of Bonafide Research have an in-depth analysis of the market. The market is majorly driven by the increasing awareness and the increasing birth rate. The increase in urbanization and the improved economic conditions of the middle-income group is to give a hike in the market during the coming period. Different models of baby high chairs are readily available in the market, in terms of shape, size & type. Of all available types, the market is dominated by convertible or booster high chairs. The improved safety & functionality of chairs for babies are the driving factors of the market. Parents are more inclined to buy baby high chairs with features like adjustable height, padded seats, and highly secure options. Such benefits are increasing the demand for baby high chairs among its end-users.

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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Artificial Intelligence

IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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Artificial Intelligence

Identity Threat Detection and Response (ITDR) Market worth $35.6 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, May 10, 2024 /PRNewswire/ — The growing need for identity-centric security solutions brought on by an increase in cyberattacks and regulatory compliance requirements will define the Identity Threat Detection and Response (ITDR) Market in the future. The growth of ITDR solutions towards more proactive and autonomous security operations is being shaped by several major trends, including integration with IAM platforms, use of AI and ML technologies, and emphasis on UEBA and Zero Trust security.

The global Identity Threat Detection and Response Market size is projected to grow from USD 12.8 billion in 2024 to USD 35.6 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 22.6% during the forecast period, according to a new report by MarketsandMarkets™. The expansion of identity threat detection and response (ITDR) is propelled by the continuously evolving global threat landscape and combating threat-targeting identities and identity systems. ITDR provides response strategies ensuring the protection of sensitive and confidential data.
Browse in-depth TOC on “Identity Threat Detection and Response (ITDR) Market”
266 – Tables 48 – Figures273 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=259116012
Scope of the Report
Report Metrics
Details
Market size available for years
2022-2029
Base year considered
2023
Forecast period
2024-2029
Forecast units
Value (USD) Billion
Segments Covered
By offering deployment mode, organization size, vertical and region
Region covered
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), CrowdStrike (US), Zscaler (US), Tenable (US), Veronis (US), BeyondTrust (US), CyberArk (US), Proofpoint (US), Quest (US), Oort(US), Vectra (US), Proficio (US), Qomplx (US), Adaptive Shield (Israel), Acalvio (US), Authorize (Israel), Illusive (US), Mindfire (UAE), Rezonate (US), Semperis (US), Sentinelone (US), Silverfort (Israel), Netwrix (US), Vericlouds (US), Microminder (UK), Quorum Cyber (UK) and Mix mode (US). 
Governments worldwide increasingly emphasize the importance of robust identity threat detection and response (ITDR) solutions to counter growing cyber threats and safeguard critical infrastructure. Key initiatives include funding research and development grants, supporting startups through grants and incubator programs, and enforcing data privacy regulations like GDPR and CCPA. They also promote cybersecurity frameworks, critical infrastructure protection standards, and public awareness campaigns. Collaboration with the private sector, through partnerships and procurement policies, further drives ITDR market growth. These efforts underscore a global recognition of ITDR’s significance in enhancing digital security and compliance with industry regulations.
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By deployment mode, the cloud segment is expected to demonstrate the highest growth rate in the Identity Threat Detection and Response Market during the forecast period.
The Identity Threat Detection and Response (ITDR) Market is experiencing a notable shift towards cloud-based deployments, which are projected to dominate in the coming years. Cloud solutions offer various advantages, including scalability, reduced infrastructure costs, faster deployment, improved accessibility, and automatic updates. With businesses increasingly adopting cloud technologies and prioritizing agility and innovation, cloud-based ITDR solutions align well with this evolving landscape. The cybersecurity skills shortage further drives the preference for cloud solutions, given their built-in automation and ease of management. While on-premises ITDR solutions may still be favored in scenarios with stringent data security requirements, the overall trend favors cloud-based deployments due to their scalability, agility, and cost-effectiveness. Cloud providers continue to innovate and enhance their offerings, making them increasingly attractive to businesses of all sizes, ultimately shaping the dominance of cloud-based ITDR in the foreseeable future.
Based on organization size, the SMEs segment is projected to exhibit the highest growth rate at the highest CAGR during the forecast period.
The Identity Threat Detection and Response (ITDR) Market is set for significant growth, particularly among Small and Medium-Sized Enterprises, driven by several key factors. SMEs face increased vulnerability due to limited security resources, a growing reliance on digital tools, and evolving cyber threats. Heightened awareness of cyber risks and emerging data privacy regulations are pressuring SMEs to invest in ITDR solutions. The affordability and scalability of cloud-based ITDR solutions further contribute to SME adoption. These solutions offer improved threat detection, enhanced user access control, and simplified compliance management, positioning SMEs as pivotal drivers of growth in the ITDR market.
Asia Pacific is anticipated to experience substantial growth with the highest CAGR in the Identity Threat Detection and Response Market during the forecast period.
The Identity Threat Detection and Response (ITDR) Market is experiencing remarkable growth globally, particularly in the Asia-Pacific region, where it is projected to witness the highest Compound Annual Growth Rate. This surge is fueled by several factors specific to the area. APAC’s rapid digital transformation, propelled by adopting cloud computing, mobile technologies, and e-commerce platforms, creates an expanded attack surface for cyber threats. Heightened regulatory focus on data privacy regulations in countries like China, India, and Australia drives the demand for robust ITDR solutions to ensure compliance. The emergence of domestic cybersecurity vendors in APAC and the increasing adoption of cloud-based ITDR solutions contribute to market growth. Government initiatives, such as heavy investments in cybersecurity infrastructure and public-private partnerships, create a supportive environment for the ITDR market’s expansion. Despite facing challenges like a shortage of skilled cybersecurity professionals, the APAC region’s unique dynamics position it as a key driver of ITDR market growth. It is crucial in protecting critical infrastructure and businesses against cyber threats in the digital age.
Top Key Companies in Identity Threat Detection and Response (ITDR) Market:
The major players in the Identity Threat Detection and Response Market are Microsoft (US), IBM (US), CrowdStrike (US), Zscaler (US), Tenable (US), Veronis (US), BeyondTrust (US), CyberArk (US), Proofpoint (US), Quest (US), Oort(US), Vectra (US), Proficio (US), Qomplx (US), Adaptive Shield ( Israel), Acalvio (US), Authomize (Israel), Illusive (US), Mindfire (UAE), Rezonate (US), Semperis (US), Sentinelone (US), Silverfort (Israel), Netwrix (US), Vericlouds (US), Microminder (UK), Quorum Cyber (UK) and Mixmode (US).
Recent Developments
January 2024 – IBM collaborated with ASUS to enhance cybersecurity by utilizing AI-powered security technologies to detect and remediate attacks swiftly. IBM’s QRadar EDR will be integrated directly into ASUS’s business hardware, supported by MDR services from IBM.January 2024 – Aembit integrates its Workload IAM Platform with CrowdStrike Falcon for real-time security posture assessment, enabling dynamic access policy enforcement. This collaboration enhances ITDR capabilities, ensuring secure workload-to-workload access.October 2023 – BeyondTrust partnered with the AWS SaaS Factory team to build their Identity Security Insights solution as a SaaS offering on AWS. This collaboration helped BeyondTrust navigate business and technical decisions for a successful SaaS model launch.September 2023 – CyberArk collaborates with Accenture to deploy CyberArk Privilege Cloud to enhance PAM solutions. This initiative aims to bolster cybersecurity defenses by managing and monitoring privileged access, which is crucial for ITDR. The collaboration leverages CyberArk’s Identity Security Platform, enabling comprehensive security for identities across various IT environments, aligning with ITDR principles by securing access and mitigating risks associated with privileged accounts.July 2023 – Microsoft partnered with CISA by offering expanded cloud logging capabilities at no additional cost. This initiative directly supports ITDR by improving detection and response to identity-related threats, making it easier for organizations to maintain identity integrity and security through better visibility and monitoring of security incidents.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=259116012
Identity Threat Detection and Response (ITDR) Market Advantages: 
ITDR solutions assist avoid security breaches and data loss by enabling organisations to proactively detect and respond in real-time to identity-related threats such account takeovers, credential stuffing, and insider threats.ITDR solutions assist organisations in strengthening their security posture and safeguarding sensitive data and assets from unauthorised access and misuse by continually monitoring user activities, access patterns, and behaviour across digital channels and systems.Rapid incident response is made possible by ITDR systems, which immediately notify security teams of potentially dangerous activity and security issues. This allows the teams to quickly investigate and neutralise threats to minimise the damage to the organisation.By offering thorough visibility, audit trails, and reporting capabilities, ITDR solutions help enterprises comply with legal and regulatory requirements pertaining to identity and access management, data protection, and cybersecurity.ITDR systems with advanced analytics and machine learning capabilities help minimise noise and false positives, allowing security professionals to concentrate on real threats and efficiently prioritise their response efforts.Numerous ITDR systems come with easy-to-use dashboards and interfaces that give security teams the tools and knowledge they need to effectively monitor, assess, and address identity-related threats without the need for in-depth training or specialised knowledge.Organisations may take advantage of their investments and coordinate automated response activities throughout the security ecosystem by integrating ITDR solutions with pre-existing security technologies and systems like SIEM, IAM, CASB, and SOAR platforms.Report Objectives
To describe and forecast the global Identity Threat Detection and Response Market by offering, deployment mode, organization size, vertical, and regionTo forecast the market size of five central regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin AmericaTo analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall marketTo provide detailed information related to significant factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo analyze the opportunities in the market for stakeholders and provide the competitive landscape details of major playersTo profile the key players of the Identity Threat Detection and Response Market and comprehensively analyze their market shares and core competenciesTo track and analyze competitive developments, such as Mergers and Acquisitions (M&A), new product developments, and partnerships and collaborations in the marketTo track and analyze the impact of COVID-19 on the Identity Threat Detection and Response MarketBrowse Adjacent Market: Information Security Market Research Reports & Consulting
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