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Digital Workplace Market Predicted to Garner USD 234 Billion By 2032, At CAGR 22.3% | Exclusive Report by Market.us

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New York, April 27, 2023 (GLOBE NEWSWIRE) — The global digital workplace market was worth USD 33 billion in 2022, and it is projected to attain USD 234 billion by 2032. During the period between 2023 and 2032, the market is expected to record a compound annual growth rate (CAGR) of 22.3%. The digital workplace is the modern version of traditional workplaces, offering customized role-based services to employees. Employees have easy access to data and services from anywhere at any time to meet their needs. A digital workplace takes advantage of the latest services and technology to accommodate how people work, increasing employee engagement and satisfaction levels.

It provides a personalized environment that enables workers to work more efficiently from home or other remote locations. Instead of being limited by technology, people become motivated by it, enabling them to reach their highest potential. Digital workplace services enable businesses to reduce operating expenses, as they no longer need to pay rent for office spaces or electricity bills. Furthermore, the combination of mobile devices and cloud-based applications has transformed our work environments into cooperative open spaces with non-routine schedules as the new norms.

Digital Workplace Market

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Key Takeaway:

  • By the component analysis, the Services segment dominates the market with a 65% market share.
  • By Enterprise size analysis, the large enterprise segment dominates the market with a 63% market share.
  • By the End-User analysis, IT and Telecom dominate the market with a 24% market share.
  • In 2022, North America dominated the market with the highest revenue share of 35%.
  • APAC is expected to grow at a greater pace owing to affordable prices, increasing medical tourism, as well as hospitals and clinics, among other factors.

Factors Affecting the Growth of the Digital Workplace Industry

  • Advancements in Technology: The development of advanced technologies like cloud computing, artificial intelligence, and the Internet of Things (IoT) is expected to propel growth within the digital workplace industry. These advancements allow companies to design more sophisticated digital workspaces that can support various activities.
  • Increased Demand for Remote Work: The COVID-19 pandemic has caused an unprecedented surge in remote work demand, which is expected to persist even after the crisis ends. This trend will drive the adoption of digital workplace solutions designed to facilitate this kind of work and collaboration.
  • Changing workforce demographics: As younger generations enter the workplace, they become increasingly comfortable with technology and expect access to digital tools and resources in the workplace. This trend is expected to spur the adoption of digital workplace solutions tailored toward these workers’ needs and preferences.
  • Globalization: Businesses operating across multiple locations and time zones will find that digital workplaces provide a way to break down geographic barriers, improving communication and collaboration. This trend is expected to encourage the adoption of solutions designed specifically for global workforces.
  • Cost Savings: Digital workplaces offer companies the potential to save money on office space, travel costs, and other expenses associated with traditional work arrangements. This trend is expected to accelerate the adoption of digital workplace solutions that reduce expenses and enhance efficiency.

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Market Growth

The growth of the digital workplace market can be attributed to several factors, including increasing adoption of remote work, demand for more flexible work arrangements, and technological advances. Furthermore, COVID-19 has further spurred this expansion as many companies have had no choice but to quickly implement digital workplace solutions to facilitate remote working and collaboration.

Regional growth is forecast to be highest in Asia Pacific, due to the increasing adoption of cloud-based digital workplace solutions and an influx of start-ups and small and medium-sized enterprises (SMEs) there. North America will hold the majority share of this market due to several major players present there as well as high adoption rates among enterprises. Overall, the digital workplace market is expected to keep expanding over the coming years as companies strive to implement more flexible and efficient work arrangements and utilize digital technologies for increased productivity and collaboration.

Regional Analysis

Regionally, North America dominates the market with a 35% share. The digital workplace industry has seen incredible growth due to the increasing adoption of cutting-edge technologies like AI, BYOD, and enterprise mobility management solutions. Many regional workplace transformation service providers are rapidly incorporating cloud technologies and Artificial Intelligence into their service offerings. Furthermore, due to the region’s bustling manufacturing, retail, and automotive sector, there is an increasing preference for software and robotics solutions. This in turn drives growth in the regional market.

Asia Pacific is forecast to experience a CAGR of 23.6% during the forecast period due to the rapid adoption of digitization across various industry sectors and increasing reliance on cloud platforms among enterprises. Furthermore, market players in this region are employing various strategies such as product development, collaborations, and strategic partnerships in an effort to maintain their dominance within the industry.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 33 billion
Market Size (2032) USD 234 billion
CAGR (from 2023 to 2032) 22.3%
North America Revenue Share 35.0%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

As cloud adoption increases, organizations are transitioning from traditional workplaces to digital ones. The cloud offers greater adaptability, scalability, and accessibility which makes it simpler for businesses to implement digital workplaces. The COVID-19 pandemic has seen a marked shift towards remote work, which is expected to persist even after the crisis ends. As such, there has been an uptick in demand for digital workplace solutions that facilitate this type of arrangement and collaboration. Mobile devices are becoming more prevalent in the workplace, with employees increasingly using them to access work-related information and applications. This has necessitated a need for digital workplace solutions that are optimized for mobile use.

Companies are realizing the significance of employee engagement and productivity for driving business success. Digital workplace solutions can facilitate better collaboration, communication, and knowledge sharing among employees – leading to higher levels of engagement and productivity. Emergencies such as artificial intelligence, machine learning, and the Internet of Things (IoT) are enabling more sophisticated digital workplace solutions. These innovations make it simpler to automate repetitive tasks, provide personalized experiences and enhance decision-making processes.

Market Restraints

Adopting a digital workplace solution can be costly, particularly for small and medium-sized businesses (SMBs). This may present as an impediment to adoption for some organizations. While digital workplaces offer numerous advantages, they require a certain level of digital literacy and proficiency to use effectively. Without adequate skillsets or training, some employees may lack the capacity to utilize these solutions effectively, leading to lower adoption rates. As digital workplaces involve storing and sharing sensitive information, data security should be a top priority. Organizations must guarantee their digital workplace solutions have robust security features to guard against cyber threats.

Integrating digital workplace solutions with existing systems and processes can be a formidable obstacle, particularly for organizations that rely on legacy systems. This could negatively affect the usability and efficacy of these solutions. Transitioning from a traditional workplace to a digital one can be intimidating for some employees, leading to resistance. Organizations need to effectively communicate the advantages of digital workspaces to employees and offer adequate training to help them adjust.

Market Opportunities

Digital workplace solutions offer tools for real-time collaboration, communication, and knowledge sharing among employees. Fostering a collaborative work environment can enhance decision-making, speed up problem-solving processes and boost innovation within organizations. As more employees opt for remote working, organizations have an opportunity to take advantage of digital workplace solutions to facilitate and support this trend. By providing employees with the necessary tools for successful remote work, businesses can attract and retain top talent while improving overall productivity levels. Digital workplace solutions can be customized to each employee’s requirements, creating a more tailored experience. Organizations that understand employee preferences and work styles will see improvements in engagement levels, productivity levels, and job satisfaction scores.

Recent advances in artificial intelligence and machine learning are enabling routine tasks to be automated, freeing employees to focus on more strategic work. Digital workplace solutions that incorporate automation can help organizations boost efficiency and cut expenses. Digital workplace solutions generate vast amounts of data about employee behavior, productivity, and engagement. By analyzing this information, organizations can gain invaluable insights into their workforce and identify areas for improvement.

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Report Segmentation of the Digital Workplace Market

Component Insight

Based on the component analysis, the Services segment dominates the market with a 65% share. Small to Medium-Sized Enterprises (SMEs) have increasingly turned towards cloud technology to gain modern, cloud-oriented insights that are supported by artificial intelligence, IoT, Cloud computing, and other industrial automation mechanizations. Large organizations also benefit from executive and professionally managed services; ultimately these services increase demand for the digital workplace.

Enterprises size Insight

Analyzing enterprise size, it is clear that large enterprises command the majority of the market with a 63% share. Large enterprises are adopting cloud technology and other cutting-edge tools that are easy to consume, powered by AI and automation technologies and software. Tata Consultancy Services Limited (TCS) Cognix is one such example – it’s a digital workspace solution tailored specifically for large organizations with full automation capabilities. The solution offers real-time dashboards with intelligent reporting, equipping users with future technologies such as Augmented Reality (AR), Virtual Reality (VR), and cognitive automation. The implementation of these solutions will further accelerate the adoption of digital workplace solutions within large enterprises.

End User Insight

According to End-User analysis, IT and Telecom dominate the market with a 24% share. The primary factors driving this segment growth include increasing adoption of IoT, AI, SaaS solutions, work-from-home cultures, and bring-your-own-device (BYOD) practices in IT & telecom companies; these have resulted in more digital workstation applications. Infosys, an IT company offering business consulting and outsourcing services, recently implemented four digital workplace platforms for their internal workforce: Launchpad (for the employee onboarding), InfyMe (for employee services and experience platform), LEX (for digital learning) and Meridian (for collaboration and virtual events). These innovations allowed Infosys to quickly adopt remote working models and hybrid work models during the pandemic further driving the adoption of digital workplace solutions within IT & telecom during the forecast period.

Recent Development of the Digital Workplace Market

  • On February 20, 2021, Accenture announced the acquisition of Imaginea, a provider of cloud-based platforms. This acquisition will enable Accenture to enhance its offering of cloud-based management for digital solutions and services.
  • In 2020, IBM created a revolutionary line setup that utilizes artificial intelligence (AI) to aid HR professionals in perfecting their professional techniques.
  • In February 2020, Infosys announced its partnership with GE Appliances. Through this alliance, Infosys will assist GE in further developing its IT framework and function IT in managed services.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/digital-workplace-market/request-sample/

Market Segmentation

Based on Component

  • Solutions
  • Services

Based on Enterprise Size

  • Small and Medium Enterprises
  • Large Enterprises

Based on End-User

  • Healthcare
  • Retail
  • IT & Telecom
  • BFSI
  • Government
  • Media & Entertainment
  • Other End-Users

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The leading players operating in this market include Accenture, Capgemini, IBM, Tata Consultancy Services Limited; Infosys; and Trianz. To support growth and improve internal business operations, these key players are investing resources into research & development activities. Companies also engage in mergers & acquisitions activities as well as partnerships to upgrade products further and gain a competitive advantage. They are actively working on new product development as well as product enhancement to acquire new customers and capture more market shares.

  • IBM Corporation
  • Accenture plc
  • Atos SE
  • Trianz
  • Capgemini
  • HCL Technologies Limited
  • Infosys Limited
  • Tata Consultancy Services Limited
  • Tech Mahindra Limited
  • Mphasis
  • Other Key Players

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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
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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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