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The Global Bioinformatics Market size is expected to reach $19.9 billion by 2028, rising at a market growth of 12.5% CAGR during the forecast period

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New York, Jan. 27, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Bioinformatics Market Size, Share & Industry Trends Analysis Report By Product & Services, By Sector, By Application, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06412012/?utm_source=GNW
It makes use of software tools for data management, data mining, data warehousing, and other functions. Exploiting such data produces scientific findings that are used in the study of genetics and genomes.

There are several bioinformatics tools on the market. They are divided into four groups: tools for sequence analysis, tools for homology and similarity analysis, and other tools. The discipline includes a wide range of cutting-edge and specialized aspects of life, including comparative genomics, DNA microarrays, structural genomics, and medical data. Therefore, the market share for bioinformatics globally is increased by the aforementioned considerations.

Sequencing and data analysis may be useful tools for the characterization and detection of viruses in animals, environments, and people during a pandemic. The development of vaccinations and less expensive diagnostic techniques may be guided by an understanding of viral variability, while knowledge of transmission networks is essential for public health control and containment measures.

For instance, Illumina provided cloud-based bioinformatics and sequencing supplies to Canadian COVID-19 projects in November 2021. The funds will help the CanCoGen, or Canada’s COVID-19 Genomics Network, HostSeq, and VirusSeq initiatives. Over the anticipated time, these variables are predicted to have a positive impact on the bioinformatics industry.

COVID-19 Impact Analysis

The COVID-19 pandemic served as a bioinformatics field test. Every nation has made studying and comprehending how to stop the spread of the virus a top priority during the COVID-19 pandemic. The primary technique for examining SARS-CoV-2 genomes, which provides essential knowledge about the virus, is next-generation sequencing. Databases of biological and host-virus interactions, as well as bioinformatics pipelines, are essential tools for calculating these data and improving understanding of SARS-CoV-2. As a result, several research is being carried out to comprehend the genetic makeup of the virus; bioinformatics is the driving force behind these studies.

Market Growth Factors

Increasing Support from the Public and Private Sectors for Bioinformatics

Globally, a large number of public and commercial entities are making investments in the area of bioinformatics. The quality of these services has increased as a result of these expenditures, which have led to technical breakthroughs in bioinformatics services. For instance, the UK government established a new partnership called COVID-19 Genomics UK Consortium (COG-UK) in March 2020 with an investment of EUR 20 million to sequence the genomes of SARS-CoV-2, the virus that is driving the current COVID-19 pandemic.

Adoption of Genomics in Specialized/Personalized Medicine

Personalized medicine research is becoming more popular among pharmaceutical corporations. Personalized medicine allows doctors to pinpoint a patient’s specific needs and then prescribe medications and treatments to meet those needs. This method ensures improved treatment outcomes. In addition, advances in the field of gene therapy are projected to enable doctors to treat a problem by inserting a gene into a patient’s cell, potentially replacing existing medications and operations.

Market Restraining Factors

Expensive Equipment

NGS technology advancements have increased the need for rapid, precise, and user-friendly bioinformatics tools. Not all scientists doing experimental research are bioinformaticians. Because of this, having accessible tools is crucial for using bioinformatics systems. Due to the fact that many bioinformatics tools lack an appropriate user-friendly interface, they often need significant computer knowledge. The cost of genomic instruments, which range between USD 10 and 20 million, is premium because of their extensive features and functions.

Product & Services Outlook

Based on Product & Services, the bioinformatics market is divided into Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. In 2021, the Bioinformatics Platforms segment garnered the significant revenue share in the market. Due to a growth in platform applications and the need for improved tools in drug research. The rise in platform application is linked to the life science company’s increased need for structural identification and modification. This would therefore assist in the process of creating new drugs and assessing their therapeutic benefits.

Sector Outlook

Based on sector, the market is categorized into Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Others. The animal biotechnology segment accounted for the prominent revenue share in the market in 2021. By offering new methods for identifying vaccine targets from the sequencing of biological data of organisms, bioinformatics has advanced veterinary science. The significance of bioinformatics and underline the need for bioinformatics education and training is in order to fully realize its promise for enhanced animal health services.

Application Outlook

Based on application, the market is bifurcated into Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, and Others. The proteomics segment generated the substantial revenue share in the market in 2021. The increase in R&D activities and significant financial expenditures in technology development are credited with driving the proteomics market. These tools aid in the large-scale management and analysis of data. Additionally, algorithms are used in database management and data monitoring. The expansion of the proteomics market is being driven by all of these causes.

Regional Outlook

Based on geography, the Bioinformatics Market is divided into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America led the bioinformatics Market with largest revenue share. Government approvals for genetic research, major companies having regional headquarters, decreased sequencing costs, awareness of bioinformatics services, and a rise in the number of genomic research activities (and the related adoption of bioinformatics) in the region are all contributing factors to North America’s significant market share in the global bioinformatics market.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Thermo Fisher Scientific, Inc. is the forerunner in the Bioinformatics Market. Companies such as Agilent Technologies, Inc., Illumina, Inc. and Qiagen N.V. are some of the key innovators in Bioinformatics Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Eurofins Scientific SE, Qiagen N.V., Agilent Technologies, Inc., Illumina, Inc., Waters Corporation, PerkinElmer Inc., Genedata AG, Neogenomics laboratories, BGI Group

Recent Strategies Deployed in Bioinformatics Market

Partnerships, Collaborations and Agreements:

Oct-2022: Thermo Fisher Scientific came into partnership with Genoox, a provider of fast and accurate tools to solve complex, genomic data challenges, delivering advanced, and end-to-end genomic analysis tools. The partnership aims to automate the interpretation and reporting of cytogenetic research data with AI. ChAS users can access Franklin, Genoox’s cloud-based AI platform with the launch of CytoScan Automated Interpretation and Reporting (AIR) solution for making cytogenetic research data analysis easy.

Aug-2022: Agilent Technologies came into collaboration with Bright Giant, a company that provides software solutions for small molecule identification. Following the collaboration, Agilent’s state-of-the-art mass spectrometry technology is integrated with Bright Giant’s expertise in artificial intelligence solutions for small molecule research. This collaboration would expand non-targeted metabolomics workflows utilizing AI-based methods and empower scientists in making novel and impactful discoveries.

Jun-2022: Agilent Technologies teamed up with Amazon for utilizing Amazon Elastic Compute Cloud (Amazon EC2) G5g instances powered by AWS Graviton2 processors as well as featuring NVIDIA T4G Tensor Core GPUs, together with NVIDIA Clara Parabricks’ advanced genomics analysis capabilities, for increasing processing speeds for variant calling workflows significantly on Agilent’s cloud-native Alissa Reporter software. The collaboration helped Agilent in delivering streamlined workflow solutions for its SureSelect Family of NGS assays including a range of catalog and custom panels, comprising SureSelect Human Exome reagents.

May-2022: Illumina signed a five-year partnership with Deerfield Management, a healthcare investment management company. The partnership aims to apply a genetic-led approach to the discovery and development of novel therapies for diseases having unfulfilled medical needs. Additionally, this partnership would utilize genetic knowledge and genomic tools for selecting programs with a higher probability of success to decrease research and development costs and advance the cutting-edge therapies approval.

Apr-2022: PerkinElmer collaborated with Scitara, a provider of laboratory-specific, cloud-based software solutions for the life sciences and other science-based industries. The collaboration supports the integration of the PerkinElmer Signals Research Suite Informatics Platform that offers end-to-end, seamless scientific data and workflow management with applications, laboratory instruments, and resources through Scitara Scientific Integration Platform SIP. The integration delivers the flexibility and ability to work in integrated laboratory equipment to customers.

Apr-2022: NeoGenomics announced a partnership with Biognosys, a provider of next-generation proteomics solutions for drug discovery and development. The partnership encompasses multiple commercial and strategic initiatives, comprising NeoGenomics labs providing access to the latter company’s proteomics platforms, scientific, and medical affairs-joint discussions and presentations together with joint technical and scientific initiatives.

Mar-2022: Thermo Fisher Scientific extended its collaboration with Symphogen, a biotechnology company developing protein drugs based on recombinant monoclonal antibody mixtures. The expansion aims to support the discovery and development of new treatments for cancer. The deployment of instruments and software broadened the capabilities of developing, testing, and implementing platform workflows routinely for native and intact mass analysis of therapeutic monoclonal antibody mixtures.

Aug-2021: Agilent partnered with Partek, a bioinformatics software, for combining its Alissa Clinical Informatics Platform with Partek Flow Bioinformatics software. This combination provides a complete end-to-end flexible, robust, and customizable analysis workflow for fulfilling customer requirements. Additionally, the integration reinforced Agilent’s overall offering for addressing a wide range of applications and workflows throughout the translational research to clinical testing continuum.

Jul-2021: Genedata partnered with SCIEX, a company engaged in life science and analytical technologies. The partnership aims to create new software solutions for the biopharmaceutical mass spectrometry market.

Jun-2021: Waters Corporation announced a collaboration with Bioprocessing Technology Institute (BTI), a research institute of Singapore’s Agency for Science, Technology, and Research (A*STAR). Following the collaboration, the companies are focused on solving a significant barrier to the characterization of biopharmaceuticals is the identification and quantification of complex biomolecules including released N- and O- glycans and metabolites that affect therapeutic action through data analytics research.

Jun-2021: BGI Americas, a part of BGI Genomics Co. Ltd. teamed up with Champions Oncology, a provider of oncology data-driven solutions. The collaboration would deliver end-to-end multi-omics and proteomics solutions to their respective customers for oncology biomarker discovery and validation. As part of this collaboration, the former company’s Mass Spectrometry Center in San Jose, California would be responsible for the preparation of the sample as well as the analysis and generation of metabolomics and proteomics data utilizing the cutting-edge mass spectrometers of the laboratory.

Product Launches and Product Expansions:

Nov-2022: QIAGEN Digital Insights, part of QIAGEN in partnership with ATCC introduced a new cell line database. ATCC is a leading biological materials organization. The new database provides manually organized sequencing data intended for authenticated, reproducible, and standardized cell lines. The new product reflects QDI’s commitment to delivering its clients with all-inclusive and manually curated genomic datasets.

Jun-2022: PerkinElmer released BioQule™ NGS System, the research-use-only, automated benchtop solution for NGS library preparation of up to eight samples. This is an ideal solution for any lab performing NGS Library preparation comprising mid and small-sized labs following research in transcriptomics and genomics or large reference laboratories.

Apr-2022: QIAGEN Digital Insights, part of QIAGEN introduced QIAGEN Biomedical Knowledge Base. The product is unveiled in Europe, North America, Australia, and Japan. The biomedical knowledge base supports data scientists in accessing biomedical relationships efficiently and rapidly.

Jan-2021: Illumina introduced Illumina Connected Analytics (ICA) for transforming bottlenecks of genomic data into catalysts. The integrated bioinformatics solution offers a private, comprehensive, cloud-based data platform for empowering customers to analyze, manage, and explore huge volumes of multi-omic data in a scalable, secure, and flexible environment.

Acquisitions and Mergers:

May-2022: Eurofins Scientific took over a majority stake in Repertoire Genesis Inc., a company that owns a unique and proprietary analytical platform, TCR/BCR (T Cell Receptor/B Cell Receptor) repertoire profiling. The acquisition broadened the former company’s biopharma and clinical service offerings in Japan.

Feb-2022: Agilent Technologies completed the acquisition of Virtual Control’s advanced artificial intelligence technology. Agilent added ACIES, the software into its mass spectrometry and gas chromatography platforms for improving the efficiency, productivity, and accuracy of high-throughput labs operating throughout the world.

Jun-2020: Illumin completed the acquisition of BlueBee, a leading provider of high-performance genomics solutions. The acquisition added unique capabilities while ensuring the secure implementation of clinical informatics throughout the world. Together, the companies focus on providing an unparalleled learning environment for unlocking the potential of genomic insights.

Scope of the Study

Market Segments covered in the Report:

By Product & Services

• Knowledge Management Tools

• Bioinformatics Platforms

• Bioinformatics Services

By Sector

• Medical Biotechnology

• Plant Biotechnology

• Environmental Biotechnology

• Animal Biotechnology

• Forensic Biotechnology

• Others

By Application

• Genomics

• Chemoinformatics & Drug Design

• Transcriptomics

• Metabolomics

• Proteomics

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Thermo Fisher Scientific, Inc.

• Eurofins Scientific SE

• Qiagen N.V.

• Agilent Technologies, Inc.

• Illumina, Inc.

• Waters Corporation

• PerkinElmer Inc.

• Genedata AG

• Neogenomics laboratories

• BGI Group

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
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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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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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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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