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Worldwide IT Security Consulting Services Market Size Figure is Projected to Grow $101.12 Billion, at a CAGR of 13.5% during 2023-2030

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Washington, DC, April 27, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “IT Security Consulting Services Market By Security Type (Application Security, Database Security, Endpoint Security, Network Security), By End-User (Aerospace & Defense, Banking, Financial Services, & Insurance (BFSI), Government & Public Utilities, Healthcare, IT & Telecom, Manufacturing & Retail, Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global IT Security Consulting Services Market size & share in terms of revenue was valued at USD 27.24 billion in 2022 and it is expected to surpass around USD 101.12 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 13.5% during the forecast period 2023 to 2030.”

What are IT Security Consulting Services? How big is the IT Security Consulting Services Industry?

Report Overview:

The global IT security consulting services market size was valued at USD 27.24 Billion in 2022 and is expected to reach USD 101.12 Billion by 2030, growing at a compound annual growth rate (CAGR) of 13.5% during the forecast period.

IT security consulting services involve the assessment, design, implementation, and management of security measures to protect an organization’s information systems and data from cyber threats. These services help businesses identify security vulnerabilities & risks, develop security strategies & policies, and implement technical solutions to safeguard against attacks. IT security consulting services include network security, data protection, application security, cloud security, identity and access management, compliance & regulatory requirements, and incident response planning. With the growing frequency and sophistication of cyber-attacks, businesses of all sizes and industries are seeking the expertise of IT security consultants to mitigate risks and protect their sensitive data. The IT security consulting services market is expected to continue its growth trend due to the increasing demand for end-to-end security solutions and compliance with regulatory requirements.

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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  • About 219+ Pages Research Report (Including Recent Research)
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  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated
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  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global IT Security Consulting Services Market: Growth Factors

The global IT security consulting services market is driven by several factors such as the increasing number of cyber threats, data breaches, and stringent government regulations. The adoption of cloud-based services and digital transformation initiatives, along with the need for end-to-end security solutions, are also driving the demand for IT security consulting services. Additionally, the growing awareness among organizations about the benefits of proactive security measures and the need for expert guidance to address complex security challenges further drives the growth of the market.

In addition, the increasing adoption of advanced technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT), which require specialized security consulting services create ample opportunities. The emergence of new threats such as ransomware and Distributed Denial of Service (DDoS) attacks also presents new opportunities for the growth of IT security consulting services industry. However, the high cost of IT security consulting services and the lack of skilled professionals in the market may act as restraints to market growth.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/it-security-consulting-services-market

Report Scope

Report Attribute Details
Market Size in 2022 USD 27.24 billion
Projected Market Size in 2030 USD 101.12 billion
CAGR Growth Rate 13.5% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players Accenture, Deloitte, IBM, PwC, Ernst & Young, KPMG, Booz Allen Hamilton, Cognizant, DXC Technology, Wipro, Capgemini, Tata Consultancy Services, Atos, NTT Data, Verizon, SecureWorks, Trustwave, Symantec, McAfee, and Check Point among others.
Key Segment By Security Type, By End-User, And By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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IT Security Consulting Services Market: Segmentation Analysis

The global IT security consulting services market is segmented based on security type, end-user, and region.

Based on security type, the market is segmented into application security, database security, endpoint security, and network security. The network security segment held the largest market share in 2022 and is further anticipated to grow rapidly at a significant CAGR during the forecast period. This is mainly due to the increasing number of cyber-attacks on enterprise networks and the need for advanced security solutions to protect against them. Network security consulting services include services such as vulnerability assessment, penetration testing, firewall management, and intrusion detection and prevention. With the growing adoption of cloud-based services and remote workforces, the demand for network security consulting services is expected to continue its growth trend.

Based on end-user, the market is segmented into Aerospace & Defense, Banking, Financial Services, & Insurance (BFSI), Government & Public Utilities, Healthcare, IT & Telecom, Manufacturing & Retail, and Others. The BFSI segment held the largest market share in 2022 and is further projected to grow at a notable CAGR during the forecast period. This is mainly due to the increasing number of cyber threats and the need to protect sensitive financial data. The BFSI sector is heavily regulated, with compliance requirements such as PCI DSS, SOX, and GDPR, driving the demand for IT security consulting services.

The healthcare and government sectors are also expected to be significant contributors to the IT security consulting services market due to the increasing use of electronic medical records and government initiatives to digitize services. The retail sector is also witnessing significant growth due to the increasing adoption of e-commerce and the need for secure payment processing systems.

The global IT Security Consulting Services market is segmented as follows:

By Security Type

  • Application Security
  • Database Security
  • Endpoint Security
  • Network Security

By End-User

  • Aerospace And Defense
  • Banking
  • Financial Services
  • Insurance (BFSI)
  • Government And Public Utilities
  • Healthcare
  • IT And Telecom
  • Manufacturing & Retail
  • Others

Browse the full “IT Security Consulting Services Market By Security Type (Application Security, Database Security, Endpoint Security, Network Security), By End-User (Aerospace & Defense, Banking, Financial Services, & Insurance (BFSI), Government & Public Utilities, Healthcare, IT & Telecom, Manufacturing & Retail, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”– Report at https://www.zionmarketresearch.com/report/it-security-consulting-services-market

Competitive Landscape

Some of the main competitors dominating the global IT Security Consulting Services market include – 

  • Accenture
  • Deloitte
  • IBM
  • PwC
  • Ernst & Young
  • KPMG
  • Booz Allen Hamilton
  • Cognizant
  • DXC Technology
  • Wipro
  • Capgemini
  • Tata Consultancy Services
  • Atos
  • NTT Data
  • Verizon
  • SecureWorks
  • Trustwave
  • Symantec
  • McAfee
  • and Check Point
  • Among Others.

Key Insights from Primary Research:

  • As per the analysis shared by our research analyst, the global IT security consulting services market is expected to grow annually at a promising CAGR of around 13.5% during the forecast period 2023-2030.
  • In terms of revenue, the global IT security consulting services market size was valued at around USD 27.24 billion in 2022 and is expected to reach USD 101.12 billion by 2030.
  • One of the key factors driving the global IT security consulting services market is owing to the increasing number of cyber-attacks on organizations’ IT infrastructure leading to businesses investing in IT security consulting services to improve their cybersecurity posture and protect against potential threats.
  • Based on security type, the network security segment held the largest market share in 2022.
  • Based on end-user, the BFSI segment held the dominating market share in 2022.
  • Based on region, the North American region held the largest market share in 2022.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/it-security-consulting-services-market

Key questions answered in this report:

  • What is the market size and growth rate forecast for IT Security Consulting Services industry?
  • What are the main driving factors propelling the IT Security Consulting Services Market forward?
  • What are the leading companies in the IT Security Consulting Services Industry?
  • What segments does the IT Security Consulting Services Market cover?
  • How can I receive a free copy of the IT Security Consulting Services Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2023−2030
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Security Type, By End-User, And By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

The North American region held the dominating market share in 2022 and is further predicted to continue this trend during the forecast period. North America is expected to be the largest market for IT security consulting services due to the high adoption of advanced technologies and the increasing number of cyber-attacks in the region. The growing digital transformation initiatives, increasing use of cloud-based services, and the presence of a large number of multinational companies are driving the demand for IT security consulting services in North America.

The United States is expected to dominate the market in the region, followed by Canada and Mexico. Furthermore, the presence of major players in the region such as IBM, Accenture, and Deloitte is contributing to the growth of the market. The increasing government initiatives and regulations related to data privacy and security are also driving the demand for IT security consulting services in North America.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Recent Developments

  • In January 2022, Accenture Security announced the acquisition of BrightStep Partners, a cybersecurity consulting firm based in Sweden. The acquisition will strengthen Accenture’s cybersecurity consulting services in the Nordics and Europe, helping clients to improve their cybersecurity posture and manage risks.
  • In March 2022, IBM Security announced the acquisition of Persistent Systems’ cybersecurity business unit to expand its security consulting services capabilities. The acquisition will help IBM Security to deliver integrated security solutions to its clients, covering risk management, compliance, and cybersecurity consulting services.
  • In December 2021, Deloitte announced the acquisition of Sentek Consulting, a cybersecurity and risk management consulting firm based in the United States. The acquisition will help Deloitte to expand its cybersecurity consulting services capabilities, particularly in the government and public sector.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/it-security-consulting-services-market

FREQUENTLY ASKED QUESTIONS

  • What are IT Security Consulting Services?
  • At what CAGR, the global IT security consulting services market will expand during forecast years?
  • What will be the market value of global IT security consulting services market by the end of 2030?
  • What are the factors driving the global IT security consulting services market growth?
  • Which region will contribute notably towards the IT security consulting services market value?
  • Who are the leading players in the global IT security consulting services market?

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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
HIGH RES IMAGE: https://we.tl/t-epx2syiuaRWATCH VIDEO: https://www.youtube.com/watch?v=2v_Pli2pAM8&t=164s
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The robotic palletizer market is projected to grow from USD 1.4 billion in 2024 and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Rising awareness towards workplace safety and reducing the risk of work-related injuries to drive the market. Robotic palletizers significantly enhance workplace safety and reduce the risk of work-related injuries and associated costs. By automating repetitive tasks like palletizing, businesses can redeploy their human workforce to higher-value activities that require human skills like problem-solving, critical thinking, and customer interaction. This allows them to optimize their workforce and leverage human capabilities more effectively.

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Browse in-depth TOC on “Robotic Palletizer Market” 100 – Tables60 – Figures200 – Pages
Robotic Palletizer Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.4 billion
Estimated Value by 2029
$ 1.9 billion
Growth Rate
Poised to grow at a CAGR of 5.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Component, Robot Type, Application, End-use Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High initial investment cost
Key Market Opportunities
Increasing application in small and medium-sized enterprises
Key Market Drivers
Growing labor shortage and need for workforce optimization
 
Collaborative robots in the robot type segment are expected to witness higher growth rate during the forecast period.
Collaborative robots are expected to witness a higher CAGR during the forecast period. Unlike traditional industrial robots that often require physical barriers or cages to protect human workers, cobots are equipped with advanced safety features, such as force and torque sensors, collision detection, and speed monitoring. These features enable cobots to operate safely in proximity to humans without posing significant risks of injury.
The Pharmaceutical segment in the robotic palletizer market is expected to witness highest growth rate during the forecast period.
Pharmaceutical products are subject to strict regulations regarding storage, handling, and quality control. Robotic palletizers play a crucial role in providing greater precision and consistency in palletizing tasks and minimizing the risk of contamination within pharmaceutical manufacturing facilities. It also reduces human intervention in the handling and stacking of products and helps mitigate the potential for cross-contamination and ensures adherence to strict hygiene standards.
End-of-Arm- Tooling (EOAT) component is expected to witness the highest CAGR in the robotic palletizer market during the forecast period.
End-of-arm tooling (EOAT) is a crucial element of a robotic arm system, especially in applications like robotic palletizing, where the robot needs to interact with various objects or products. EOAT essentially acts as the hand of the robotic arm, designed to securely grasp, lift, and place boxes or cases onto pallets. Overall, EOAT plays a vital role in the effectiveness of robotic palletizers as it ensures secure handling of products, efficient palletizing patterns, and smooth operation of the entire system.
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North America is expected to hold the largest share of the robotic palletizer industry during the forecast period.
North America is home to major automobile and retail companies, which has accelerated the demand for robotic palletizers in this region. Additionally, the rise in manufacturing activity, fueled by plans for reshoring and technological improvements, has further driven the need for robotic palletizers. In North America, certain government funds are available to increase workplace safety. In 2023, the Occupational Safety and Health Administration announced a grant of approximately USD 12.7 million to 100 non-profit organizations across the nation to provide education and training for workers and employers about recognizing workplace hazards, injury prevention, and understanding workers’ rights and employers’ responsibilities under federal law. Businesses that use robotic palletizers may be eligible for funding as they lower the risk of worker injuries from manual lifting.
Key Players
Leading players in the robotic palletizer companies include FANUC CORPORATION (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), and Krones AG (Germany). Schneider Packaging Equipment Company, Inc. (US), Honeywell International Inc. (US), Kaufman Engineered Systems (US), Concetti S.p.A. (Italy), Sidel (France), Brenton, LLC. (US), A-B-C Packaging Machine Corporation (US), Antenna Group (Italy), BEUMER GROUP (Germany), Brillopak (UK), BW Integrated Systems (US), Columbia Machine, Inc. (US), Euroimpianti S.p.A. (Italy),  Fuji Yusoki Kogyo Co., Ltd. (Japan), HAVER & BOECKER OHG (Germany), KHS Group (Germany), MMCI  (US), Okura Yusoki Co., Ltd. (Japan), Rothe Packtech Pvt. Ltd. (India),  and S&R Robot Systems, LLC. (US) are few other key companies operating in the robotic palletizer market.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports & Consulting
Related Reports: 
Palletizer Market Size, Share, Statistics and Industry Growth Analysis Report by Technology (Conventional, Robotic), Product Type (Bags, Boxes and Cases, Pails and Drums), Industry (Food & Beverages, Chemicals, Pharmaceuticals, Cosmetics & Personal Care, E-commerce and Retail) & Region – Global Growth Driver and Industry Forecast to 2029
Autonomous Mobile Robots Market by Offering (Hardware, Software and Services), Payload Capacity (500 kg), Navigation Technology (Laser/LiDAR, Vision Guidance), Industry (Manufacturing, Retail, E-commerce) – Global Forecast to 2028
Automated Guided Vehicle Market Size, Share, Industry, Statistics & Growth by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance), Industry, Region – Global Forecast to 2028
Automated Storage and Retrieval System Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Vertical (Automotive, Food & Beverages, E-Commerce, Retail) – Global Forecast to 2028
Automated Material Handling Equipment Market Size, Share, Statistics and Industry Growth Analysis Report by Product (Robots, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, E-Commerce, Food & Beverage) and Region – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/robotic-palletizer-companies.aspContent Source: https://www.marketsandmarkets.com/PressReleases/robotic-palletizer.asp
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