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Smart Home Security Market to Reach $112.6 Billion, by 2032 at 16.2% CAGR: Allied Market Research

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The increase in awareness and concern about home security, the surge in advancements in IoT and connected technologies, and the rise in the integration of home automation systems are the major factors that drive the growth of the global smart home security market.
PORTLAND, Ore., July 11, 2023 /PRNewswire/ –Allied Market Research published a report, titled, “Smart Home Security Market by Component (Hardware, Software, and Service), Device Type (Smart Alarms, Smart Locks, Smart Sensors and Detectors, Smart Camera and Monitoring System, and Other) and Application (Independent Homes and Condominiums/Apartments): Opportunity Analysis and Industry Forecast, 2022-2032”. According to the report, the smart home security industry generated $25.8 billion in 2022, and is anticipated to generate $112.6 billion by 2032, witnessing a CAGR of 16.2% from 2023 to 2032.
Prime determinants of growth
The increase in awareness and concern about home security, the surge in advancements in IoT and connected technologies, and the rise in the integration of home automation systems are the major factors that drive the growth of the global smart home security market. However, high installation and maintenance costs and data security and privacy concerns are the major factors that impede the growth of the global market. Furthermore, the integration of AI and deep learning solutions and the growing usage of mobile applications are anticipated to provide lucrative growth opportunities for the market in the upcoming years.
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Report coverage & details:
Report Coverage
Details
Forecast Period
2023–2032
Base Year
2022
Market Size in 2022
$25.8 Billion
Market Size in 2032
$112.6 Billion
CAGR
16.2 %
No. of Pages in Report
216
Segments covered
Component, Device Type, Application, and Region.
Drivers
Increase in awareness and concerns about home security
The surge in advancements in IoT and connected technologies
Rise in integration of home automation system
Opportunities
Integration of AI and deep learning solutions
Growing usage of mobile application 
Restraints
High installation and maintenance costs 
Data security and privacy concerns 
Covid-19 Scenario
The COVID-19 pandemic had significantly impacted the smart home security industry. While some sectors experienced challenges, others witnessed opportunities for growth and innovation. One of the positive impacts of the pandemic on the smart home security market was the increased demand for remote monitoring and automation solutions.In addition, the pandemic accelerated digital transformation initiatives across industries, further fueling the adoption of smart security solutions. As businesses looked to adapt to the changing landscape, they increasingly turned to IoT-enabled security applications and services to optimize security operations, improve monitoring, and enhance customer experiences. This surge in IoT implementation created opportunities for smart home security providers, solution developers, and service providers.Buy Complete Report (216 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/smart-home-security-market/purchase-options
The hardware segment to maintain its leadership status throughout the forecast period
Based on component, the hardware segment held the highest market share in 2022, accounting for around two-thirds of the smart home security market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to numerous advantages offered by smart home security hardware such as automatic control over devices. However, the software segment is projected to manifest the highest CAGR of 21.6% from 2023 to 2032. The growth in demand for connected devices and internet technology is one of the primary reasons enterprises are increasing their investments in the smart home security software.
The smart cameras and monitoring system segment to maintain its lead position during the forecast period
Based on device type, the smart cameras and monitoring system segment accounted for the largest share in 2022, contributing to nearly two-fifths of the smart home security market revenue, as advances in technologies enable smart cameras to provide a visual representation of the home and allow remote monitoring from any place. However, the smart sensors and detectors segment is expected to portray the largest CAGR of 21.1% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. This is because smart sensors and detectors devices are utilized in a wide range of scenarios such as smart grids, combat reconnaissance, exploration, and many scientific applications as monitoring and control mechanisms.
The condominiums/apartments segment to maintain its leadership status throughout the forecast period
Based on application, the condominiums/apartments segment held the highest market share in 2022, accounting for nearly three-fourths of the smart home security market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the rise in the adoption of smart home security tools. However, the independent homes segment is projected to manifest the highest CAGR of 20.1% from 2023 to 2032. This is attributed to the growth in the penetration of IoT devices in independent homes.
North America region to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the smart home security market revenue. The increase in the usage of smart home security solutions in businesses is anticipated to propel the growth of the market in this region. However, the Asia-Pacific is expected to witness the fastest CAGR of 20.5% from 2023 to 2032, and is likely to enhance the market growth during the forecast period, owing to an increase in penetration of digitalization and higher adoption of control solutions across the region.
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Leading Market Players: –
Abode Systems Inc.ADT Inc.Assa AbloyFrontpoint Security Solutions LLCHangzhou Hikvision Digital Technology Co. LtdHoneywell International Inc.Ingersoll RandJohnson Controls International PLCRobert BoschVivint Smart Home Inc.The report provides a detailed analysis of these key players in the smart home security market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Actian Launches Zen 16.0, the Next Generation Database for Edge Computing

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Latest Zen Edition Delivers Secure, Modular, and Scalable Edge Data Solutions with Seamless Synchronization from Edge to Cloud
ROUND ROCK, Texas, June 17, 2024 /PRNewswire/ — Actian, the data and analytics division of HCLSoftware, today announced the launch of Actian Zen 16.0, the newest version of its innovative embedded database. To help businesses run faster, smarter applications on the edge, Zen 16.0 is designed for real-time data processing across mobile, IoT devices, edge gateways, and complex machinery.

Actian developed Zen 16.0 to capture the growing demand for edge computing. IDC predicts edge computing will account for $232 billion in spending this year*. Zen 16.0 simplifies and optimizes edge computing for resource-constrained environments that range from industrial IoT and connected healthcare to smart cities. Actian Zen 16.0 introduces performance enhancements and new features designed to improve efficiency and functionality for the more than 13,000 organizations currently using Zen, as well as attracting new customers.
“Actian Zen16.0 is designed to meet the needs of modern embedded systems and edge computing,” said Emma McGrattan, senior vice president of engineering and product at Actian. “Its secure and scalable design allows for easy data synchronization with Zero-ETL, making it perfect for developers creating intelligent applications that can deliver real-time decisioning from edge to cloud to give a business competitive advantage.”
Zen 16.0 delivers the small footprint with fast read and write access and automatic administration that resource-constrained environments require. Zen16.0 addresses the need to support high-performance intelligent applications with minimal administration, particularly for frequent data update use cases like sensor data collection to monitor patient well-being or asset management tracking using RFID scanners.
Zen 16.0 ensures seamless data synchronization from edge to cloud, supports both SQL and NoSQL data access, and leverages popular programming languages to empower developers in building low-latency embedded applications.
“Actian Zen provides a high performance, lightweight, and self-managed embedded database for our business,” said Trent Maynard, Director of Product & Engineering at Global Shop Solutions. “Zen continues to deliver exactly what we need and we’re enthusiastic about the new capabilities of Zen 16.0 to empower our business operations even further.” 
Detailed here, Zen 16.0 includes improved L2 cache sizing, page preload for large data files, Kafka data stream support, EasySync – a new datasync utility, enhanced JSON support, Btrieve2 Python package, Docker and Kubernetes container support, and extended index key length.
*Source: IDC Press Release, New IDC Spending Guide Forecasts Edge Computing Investments Will Reach $232 Billion in 2024, March 2024
About Actian
Actian makes data easy. We deliver cloud, hybrid, and on-premises data solutions that simplify how people connect, manage and analyze data. We transform business by enabling customers to make confident, data-driven decisions that accelerate their organization’s growth. Our data platform integrates seamlessly, performs reliably, and delivers industry-leading speeds at an affordable cost. Actian is a division of HCLSoftware.
Media Contacts
Danielle LeeSenior Director – Global Analyst Relations & Public [email protected]
Ali WheelerPublic Relations [email protected]
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Application Security Market worth $55.0 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, June 17, 2024 /PRNewswire/ — The global Application Security Market to grow from USD 33.7 billion in 2024 to USD 55.0 billion by 2029 at a compound annual growth rate (CAGR) of 10.3% during the forecast period, according to a new report by MarketsandMarkets™. The application security (AppSec) market is expanding rapidly due to the growing reliance on applications and the escalating threat of cyberattacks. The increasing frequency and sophistication of these attacks are driving the demand for strong AppSec solutions, a trend likely to persist. As organizations shift to cloud-based applications, new security challenges arise, requiring AppSec solutions that can adapt and provide robust controls. AppSec vendors are creating user-friendly tools that integrate smoothly with developer workflows, promoting an early vulnerability detection approach. Small and medium-sized enterprises (SMEs) and organizations with limited security resources are turning to Managed Security Service Providers (MSSPs) for affordable expertise and tools. The extensive use of open-source software (OSS) also presents unique security issues, leading to the evolution of AppSec solutions to effectively secure open-source code.

Browse in-depth TOC on “Application Security Market”
200 – Tables 50 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110170194
Scope of the Report
Report Metrics
Details
Market size available for years
2018–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
By Type, By Component, By Organization Size, By Deployment mode, By Vertical, and By Region
Geographies covered
North America, Europe, Asia Pacific, Middle East Africa, and Latin America
Major companies covered
Major vendors in the global Application Security Market include IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US)
By Component, the services segment will grow at the highest CAGR during the forecast period.
The cybersecurity skills gap persists as a significant challenge, but AppSec services offer a solution by providing access to experienced security professionals who can design, implement, and manage effective application security programs. These services bring specialized expertise in areas like penetration testing, security code reviews, and vulnerability assessments, complementing standard solutions and addressing complex security challenges. Navigating data privacy regulations and industry-specific security standards can be daunting, but AppSec services provide compliance guidance, helping organizations efficiently meet regulatory requirements. Managed Security Service Providers (MSSPs) play a crucial role in the AppSec services market, offering comprehensive security solutions such as AppSec assessments, vulnerability management, and ongoing monitoring, which is cost-effective and beneficial for organizations with limited security resources. AppSec services are also evolving to integrate seamlessly with DevSecOps workflows, allowing security professionals to collaborate with developers in identifying and addressing vulnerabilities early in the development lifecycle. Moreover, these services increasingly include security awareness training programs to educate employees on recognizing and mitigating security threats, complementing technical controls with essential human vigilance.
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By Type, the Mobile Application Security segment will grow at a higher CAGR during the forecast period.
The mobile application security segment within the broader application security (AppSec) market is experiencing rapid growth due to the widespread use of smartphones and the proliferation of mobile apps. With an ever-increasing number of mobile applications across diverse industries, ensuring their security has become a paramount concern. The trend of Bring Your Own Device (BYOD) further complicates security efforts, as personal devices may lack the same level of security controls as corporate-issued ones. Mobile AppSec solutions must address these concerns while complying with data privacy regulations governing the collection and storage of sensitive user data. Integrating security throughout the mobile app development lifecycle is crucial, with solutions tailored to seamlessly integrate with developer workflows to promote early vulnerability detection and remediation. Mobile AppSec solutions need to cater to the specific security requirements of both iOS and Android platforms, each with its own vulnerabilities and testing methodologies. Techniques like app shielding and code obfuscation are also being employed to deter attackers from reverse engineering and exploiting vulnerabilities within mobile applications.
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By region, Asia Pacific will grow at the highest CAGR during the forecast period.
The Asia Pacific region is undergoing significant growth in its Application Security Market, driven by several key factors. As industries undergo rapid digital transformation, there’s a heightened need for robust security measures to protect interconnected systems. Moreover, the region faces increasing cyber threats, prompting businesses to prioritize application security as a crucial defense mechanism. Stricter data privacy regulations, akin to data protection laws in Europe, mandate strong security practices for handling personal data, further driving market demand. Cloud adoption is surging, leading to a need for cloud-native security solutions that effectively protect applications in cloud environments. Managed Security Service Providers are becoming popular, especially among SMEs, offering cost-effective access to security expertise. Additionally, the adoption of agile and DevOps methodologies necessitates application security solutions that seamlessly integrate with development workflows. Despite challenges such as low awareness of security best practices, skills shortages, and budget constraints, the long-term outlook for the Asia Pacific Application Security Market remains highly positive. Factors like digitalization, cyber threats, and data privacy regulations are expected to sustain market growth, alongside trends like cloud computing and managed security services adoption.
Top Key Companies in Application Security Market:
Major vendors in the global Application Security Market include IBM (US), HCL (India), Synopsys (US), Microfocus (UK), Capgemini (France), Onapsis (US), Cloudflare (US), Guardsquare (Belgium), Checkmarx (US), Fortinet (US), Checkpoint (Israel), Broadcom (US), Palo Alto Networks (US), Qualys (US), Rapid7 (US).
Browse Adjacent Market: Information Security Market Research Reports & Consulting
Browse Other Reports:
Secure Multiparty Computation Market – Global Forecast to 2029
Managed Detection and Response Market – Global Forecast to 2029
Exposure Management Market- Global Forecast to 2029
Workplace Safety Market- Global Forecast to 2028
IDaaS Market- Global Forecast to 2028
Get access to the latest updates on Application Security Companies and Application Security Industry
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 Website: https://www.marketsandmarkets.com/
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Membrane Chromatography Market to Reach USD 637 Million with 14.7% CAGR | MarketsandMarkets™

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CHICAGO, June 17, 2024 /PRNewswire/ — The membrane chromatography market is poised to grow significantly, with a projected value of USD 637 million by 2029, reflecting a robust CAGR of 14.7% from an estimated USD 321 million in 2024. This growth is primarily fueled by the escalating production of biopharmaceuticals like vaccines and monoclonal antibodies, coupled with increased R&D activities in the biopharmaceutical sector. Key players in this market include Danaher Corporation (US), Sartorius AG (Germany), Merck KGaA (Germany), and Thermo Fisher Scientific Inc. (US), who employ strategies such as new product launches, acquisitions, agreements, collaborations, and geographical expansions to bolster their market presence. Danaher Corporation is known for its extensive range of life science and diagnostic products, investing heavily in R&D, while Sartorius AG stands out for its global reach and strategic collaborations like the one with Waters Corporation for downstream biomanufacturing. Merck KGaA, on the other hand, is recognized for its comprehensive solutions and ongoing investments in R&D, as demonstrated by its substantial investment in membrane and filtration manufacturing capabilities in Cork, Ireland.

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Browse in-depth TOC on “Membrane Chromatography Market”416 – Tables52 – Figures348 – Pages
DRIVER: Catalyzing Growth Through Increased Biopharmaceutical R&D
As C-level executives, you’re aware of the pivotal role R&D plays in the biopharmaceutical sector, especially amidst the escalating demand for treatments targeting chronic illnesses. The robust increase in R&D investments, exemplified by a significant uptick in spending among Spanish biotech firms in 2022, underscores the driving force behind the membrane chromatography market’s expansion.
RESTRAINT: Slow Adoption in Large-Scale Manufacturing
Despite its promising advantages, membrane chromatography encounters obstacles when it comes to scaling up for large-scale operations. Challenges such as membrane degradation and fouling, coupled with the entrenched dominance of traditional column chromatography, impede widespread adoption. These complexities, alongside the risks of process disruption and quality compromises, restrain the market’s growth within large-scale manufacturing.
OPPORTUNITY: Embracing Single-Use Technologies for Enhanced Efficiency
The shift towards single-use membrane chromatography systems presents a compelling opportunity for executives seeking efficiency gains. These systems offer tangible benefits, including reduced contamination risks and lower capital investments. Collaborative efforts, like the partnership between W. L. Gore & Associates, Inc. and AGC Biologics, signal a strategic move towards streamlining downstream purification processes and maximizing productivity.
CHALLENGE: Competing with Alternative Techniques
In the landscape of membrane chromatography, executives must navigate the challenge posed by alternative techniques such as protein crystallization and capillary electrophoresis. These methods, renowned for their simplicity and cost-effectiveness, present formidable competition, potentially diverting market focus from membrane chromatography solutions and posing a significant hurdle to its sustained growth.
Global Membrane Chromatography Industry Ecosystem Analysis
Executives operating within the membrane chromatography industry are part of a multifaceted ecosystem encompassing raw material suppliers, manufacturers, and end users ranging from pharmaceutical giants to academic institutions. Product portfolios span from essential syringe filters to advanced membrane sheets, catering to diverse needs across the sector’s spectrum.
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Flow-Through Membrane Chromatography Leads Industry Growth in 2023
The dominance of flow-through membrane chromatography in 2023 underscores a strategic focus on biologics development, particularly monoclonal antibodies. The segment’s ascendancy is further fueled by the industry’s quest for efficient chromatography operations, positioning it as a key driver in the membrane chromatography market.
Pharmaceutical & Biopharmaceutical Companies Drive Market Growth
In 2023, pharmaceutical and biopharmaceutical companies emerged as the dominant force within the membrane chromatography landscape, buoyed by the escalating demand for biotherapeutics. The segment’s robust growth trajectory is propelled by increased R&D investments aimed at advancing biopharmaceutical products, solidifying its pivotal role in the membrane chromatography market.
North America Commands Membrane Chromatography Market in 2023
North America’s commanding presence in the membrane chromatography market during 2023 underscores its status as a key hub for biopharmaceutical development and manufacturing. With significant investments in R&D and a well-established healthcare sector, North America leads the global market, followed closely by Europe and the Asia Pacific, reflecting the region’s pivotal role in driving industry innovation and growth.
Recent Innovations Shape Membrane Chromatography Landscape
Thermo Fisher Scientific Inc. Enhances Presence in Asia Pacific with New FacilityIn February 2024, Thermo Fisher Scientific Inc. fortified its position in the Asia Pacific market with the inauguration of a sterile drug facility in Singapore. This strategic investment aligns with the company’s commitment to delivering new medicines and vaccines, complementing enhanced research capabilities at its Customer Experience Center and Bioprocess Design Center. The Customer Experience Center, equipped with a wide array of products spanning molecular biology, genetic analysis sequencing, chromatography mass spectrometry, and cell therapy, underscores Thermo Fisher Scientific’s dedication to innovation and customer-centric solutions.Agilent Technologies Invests in Nucleic Acid Therapeutics ManufacturingJanuary 2023 witnessed Agilent Technologies’ significant investment of USD 725 million to expand its manufacturing capacity for nucleic acid-based therapeutics. This expansion underscores Agilent’s commitment to meeting the growing demand for advanced therapeutics, positioning the company as a key player in the evolving landscape of nucleic acid-based treatments.Sartorius AG Expands Portfolio Through Novasep AcquisitionIn February 2022, Sartorius AG bolstered its chromatography capabilities with the acquisition of Novasep’s chromatography division. This strategic move enables Sartorius to access a portfolio tailored for smaller biomolecules like oligonucleotides, peptides, and insulin, as well as innovative systems for continuous biologics manufacturing. By integrating Novasep’s offerings, Sartorius aims to diversify its revenue streams and strengthen its position as a leading provider of chromatography solutions.3M Introduces Breakthrough Solution for Protein Therapeutic ManufacturingJune 2021 marked the launch of 3M Harvest RC clarifier, a revolutionary single-stage purification solution designed for recombinant protein therapeutic manufacturing. This innovation underscores 3M’s commitment to advancing bioprocessing technologies, offering a streamlined and efficient solution for protein purification, thereby enhancing manufacturing efficiency and product quality.For more information, inquire now! Inquire Now
Related Reports:
Chromatography Instruments Market
Chromatography Accessories & Consumables Market
High Performance Liquid Chromatography Market
Gas Chromatography Market
Life Science Instrumentation Market
Get access to the latest updates on Membrane Chromatography Companies and Membrane Chromatography Market Share
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 Website: https://www.marketsandmarkets.com/
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