New York, Aug. 10, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Fleet Management Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06484304/?utm_source=GNW
The Europe Fleet Management Market size is expected to grow from USD 6.43 billion in 2023 to USD 11.28 billion by 2028, at a CAGR of 11.90% during the forecast period (2023-2028).
Favorable market regulations, coupled with a growing emphasis on operational efficiency, are driving the growth of fleet management in the European region. Various fleet markets in the European region saw registration numbers return to near normal in 2022 after experiencing a notable decrease in numbers and fluctuations since the implementation of the Worldwide Harmonized Light Vehicle Test Procedure (WLTP) deadline.
Moreover, the vendors operating in the market are focusing on the total cost of mobility instead of the total cost of ownership. This significantly reduces operational costs by boosting productivity, streamlining routes, and giving customers complete clarity over their fleet’s activity and condition in an otherwise confusing time. Such developments are expected to increase the return on investment for customers and thus increase the demand for fleet management in the region.
Further, the vendors are adopting partnerships, mergers, and acquisitions to offer better solutions to customers and deeper insights into their fleet’s performance. For instance, Rent-A-Car, UK acquired SHB Hire, which operates a fleet of over 18,500 commercial vehicles. The agreement created one of the UK’s largest commercial-vehicle rental businesses, with a combined fleet of more than 45,000 commercial vehicles.
According to the European Automobile Manufacturers Association (ACEA), European Union demand for new commercial vehicles contracted by 34.5%, mainly due to the impact of the coronavirus on March and April results. The region’s four major markets posted double-digit percentage drops: Spain (-46.6%), France (-41.6%), Italy (-41.4%), and Germany (-22.5%) due to closures of registration offices and showrooms due to the coronavirus, combined with the production stops in factories. This fall in the numbers will directly impact the fleet management market in the region. In addition to supply-side constraints, the demand is expected to decrease in the short and medium term.
Europe Fleet management Market Trends
Driver Management is Expected to Boost the Growth of the Market
The need for fleet management solutions is increasing the need to improve the smooth flow of vehicle fleets, keep track of vehicle and driver movements, and ensure reliable registration of all vehicle-related activities. The integration of fleet management software also allows the users to manage the bus fleet efficiently, record entering and leaving buses, and monitor vehicle and driver-related activities.?
The benefits of fleet management software are that it produces near real-time alerts and notifications about dangerous driving habits. For example, fleet vehicle equipment such as dashboard video cameras allows fleet managers to monitor any incidences of speeding and hard cornering by their drivers.
The need to avoid exhausted drivers behind the wheel is among the major factors driving the fleet management market growth in the region, for instance, according to the government of the UK. In June 2021, around 1,760 recorded road fatalities were recorded, a 4% drop over the year ending June 2020. Also, 29,804 were killed and seriously injured (KSI) casualties in the same year, a decrease of 6% from the last year.
Two years back, Verizon Connect also launched an integrated video for Fleet, an extension of its Integrated video for its Reveal product made for fleet customers. The integrated video uses artificial intelligence (AI) and machine learning (ML) to help businesses improve driver behavior and understand the details of specific driving events. The smart dash-cam solution captures and automatically classifies harsh driving events in near-real-time. It also provides video analysis that can be used to help keep drivers safe on the road, protect them against false claims in the event of an incident, and coach and reward drivers.
Construction Segment is Expected to Witness Growth
In the construction industry, many moving parts and machinery are involved with high-cost projects; hence, optimization of these asset use through sophisticated fleet management has gained popularity over the years for many operational applications, including maintenance, efficiency, accountability, productivity, and rented equipment.? With increased emphasis on safety, increasing output, decreasing downtime, and obtaining optimal product lifecycles, careful management of heavy fleet equipment has become more critical in recent years.
Fleet management allows the organization to the physical location of their equipment and enables digitized and error-free documentation about this equipment using fleet management software. This provides data on how frequently and when precisely the equipment is being used, which can later be used for preventive maintenance, resulting in gaining on the increased realization of their productivity.
Moreover, according to Worldwide Harmonized Light Vehicles Test Procedure (WLTP), for heavy-duty vehicles, CO2 emissions must be reduced by 15 % by 2025 and 30 % by 2030. This is expected to provide opportunities to fleet management vendors to penetrate further in the construction industry across the region.
However, the Covid-19 pandemic negatively impacted the construction industry in the region as sites were closed, supply chains disrupted, and clients suspended investment plans. The slowdown in the construction industry is expected to hinder market growth for fleet management. For instance, According to European Automobile Manufacturers Association (EAMA), in 2020, 64,456 heavy trucks were registered across the European Union, 35.4% less than the previous year. Demand declined by 39.8% in France, followed by Germany (-30.8%), Italy (-25.7%), and Spain (-23.6%).
Europe Fleet management Industry Overview
The Europe fleet management market is moderately fragmented, presence of original equipment manufacturers, low levels of product differentiation, and sinking connectivity costs. The competitiveness has been increasing steadily due to high market consolidation by market leaders and increased R&D activities, leading to innovations in telematics and analytics solutions.
In June 2022, Geotab launched the fleet electrification knowledge center, a one-stop resource hub for fleet leaders to learn about the journey to electrification, from the initial adoption of electric vehicles (EVs) to streamlining and optimizing operations.
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Hohem Shines at IFA and IBC Exhibitions with Innovative AI Tracking Stabilizers
SHENZHEN, China, Sept. 30, 2023 /PRNewswire/ — Recently, Hohem, a trailblazer in the gimbal market, showcased its innovation at two renowned international exhibitions – the IFA exhibition in Berlin from September 3 to September 5, and the IBC exhibition in Amsterdam from September 15 to September 18. These exhibitions are significant platforms for industry players to present their latest innovations and connect with enthusiasts.
The IFA exhibition, a global hub for consumer electronics, saw Hohem presenting a range of sought-after smartphone gimbal and camera stabilizers, such as iSteady M6 and iSteady MT2. The magnetic AI tracker is much to the delight of photography enthusiasts. With this sensor, users can enjoy a smooth AI tracking experience without the need for an app or Bluetooth connection. By simply facing the AI sensor and making gestures, iSteady MT2 and iSteady M6 swiftly and accurately tracks the subject, capturing facial and body movements even in challenging scenarios.
At IFA, Hohem shared the stage with industry giants like DJI, Zhiyun, Huawei and Apple, underlining its position amidst renowned brands in the smart imaging arena. The booth design, characterized by a blend of deep black and vibrant orange, was a visual treat, adding a touch of sophistication and modernity.
Following IFA, Hohem participated in the IBC exhibition, a prestigious event in the broadcasting industry. The booth, mirroring the design theme from IFA, presented Hohem’s innovative applications of smart imaging technology in broadcasting. This event also featured industry stalwarts like Canon, Sony and Nikon, further enriching the discourse on broadcasting technology and imaging. Furthermore, the Hohem MIC-01 Wireless Microphone has received recognition and acknowledgment from industry competitors, establishing Hohem as a key player in the gimbal market.
In the coming days, Hohem will continue to uphold its brand mission of “Create a more straightforward way of recording memorable moments with tech” and introduce more user-friendly and efficient smart imaging devices. Hohem aspires to earn the trust and admiration of consumers globally, emerging as a go-to brand in the smart imaging landscape.
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Digital Twin Market size worth USD 133.7 Billion, Globally, by 2030 at 38.1% CAGR: Verified Market Research®
The “Global Digital Twin Market Size By Type, By Technology, By Industry, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Digital Twin Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Sept. 29, 2023 /PRNewswire/ — The Global Digital Twin Market is projected to grow at a CAGR of 38.1% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 7.2 Billion in 2022 and is expected to reach USD 133.7 Billion by the end of the forecast period.
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202 – Pages
126 – Tables
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Global Digital Twin Market Sees Unprecedented Growth Amidst Pandemic Challenges
The global Digital Twin Market is experiencing remarkable growth, transforming industries and revolutionizing decision-making processes across the board. A Digital Twin, a virtual replication of physical entities or systems, is driving innovation and operational efficiency across healthcare, pharmaceuticals, automotive, transportation, and aerospace sectors.
Digital Twin Market Drivers and Industry Insights:
Amid the challenges posed by the COVID-19 pandemic, the healthcare and pharmaceutical sectors have embraced Digital Twin technology, leveraging its capabilities for drug experimentation, patient monitoring, and medication impact assessments. The energy & power sector is emerging as a significant driver of Digital Twin adoption, with the manufacturing industry optimizing operations through its integration.
Digital Twin Market Outlook and Future Prospects:
The global Digital Twin market’s outlook remains promising, driven by the imperative need for data-driven decision-making and enhanced operational efficiency. Through real-time data analysis and predictive modeling, Digital Twins enable organizations to anticipate and optimize the performance of products and processes throughout their lifecycle. The market’s growth is further propelled by ongoing advancements in technology, fostering a landscape of innovation and strategic collaborations.
North America stands at the forefront of the Digital Twin revolution, serving as a key innovation center and early adopter of Digital Twins and associated technologies. Major industry players, including General Electric (US), have significantly invested in the sector, underlining the region’s market leadership. Their contributions are shaping the industry’s future, driving research, and fostering advancements that will redefine how businesses operate in the digital age.
Digital Twin Market Key Players
The “Global Digital Twin Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Swim AI, Robert Bosch, Oracle, SAP, Ansys, Siemens AG, Microsoft Corporation, PTC, IBM, and General Electric.
The Digital Twin market represents a pivotal shift in how industries approach decision-making and operational efficiency. As we navigate the challenges brought forth by the pandemic, Digital Twins offer a beacon of innovation, enabling organizations to thrive in an increasingly digital world
To get market data, market insights, financial statements and a comprehensive analysis of the Global Digital Twin Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Digital Twin Market into Type, Technology, Industry, And Geography.
Digital Twin Market, by Typeo System Digital Twin
o Process Digital twin
o Product Digital Twin
Digital Twin Market, by Technologyo Big Data Analytics
o AR, VR, and MR
o AI and ML
Digital Twin Market, by Industryo Retail
o Automotive and Transportation
Digital Twin Market, by Geographyo North America
GermanyFranceU.KRest of Europeo Asia Pacific
ChinaJapanIndiaRest of Asia Pacifico ROW
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Public Key Infrastructure (PKI) Market worth $13.8 billion by 2028 – Exclusive Report by MarketsandMarkets™
PKI will continue to be used by organisations for secure digital communications, identity management, and data protection in an increasingly linked and digitised world because to its flexibility to adapt to new technologies and security issues
CHICAGO, Sept. 29, 2023 /PRNewswire/ — The global Public Key Infrastructure Market is estimated to be worth USD 5.5 billion in 2023 and is projected to reach USD 13.8 billion by 2028, at a CAGR of 20.2% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Public Key Infrastructure (PKI) Market”
358 – Tables 56 – Figures300 – Pages
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Scope of the Report
Market size available for years
Base year considered
Value (USD) Million/Billion
By offering, deployment mode, organization size, application, and vertical
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US)
The PKI market is being propelled by a convergence of factors in today’s digitally connected world. The escalating volume and complexity of cyberattacks have made robust security a paramount concern for organizations, prompting increased demand for PKI’s encryption, authentication, and digital signature capabilities. Secondly, regulatory compliance requirements, such as GDPR and HIPAA, mandate secure data handling and encryption, compelling organizations to adopt PKI solutions. The rise of digital transformation initiatives, remote work, and the Internet of Things further fuel the need for PKI to safeguard digital interactions, protect sensitive data, and establish trust in online transactions. As the digital landscape continues to expand and evolve, PKI remains the linchpin for ensuring cybersecurity, making it a pivotal driver in the cybersecurity market.
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By offering, the services segment to register the highest growth rate during the forecast period
The services segment of the PKI market is poised to register the highest growth rate during the forecast period, underlining the critical role of expert services in enabling organizations to harness the full potential of PKI solutions. Implementing and managing PKI can be complex, involving intricate cryptographic processes and security considerations. As cybersecurity threats evolve, organizations recognize the need for specialized expertise in securing digital identities and data. PKI service providers offer invaluable support, consultation, and implementation services to ensure a seamless and secure PKI deployment. Their role extends to customizing PKI solutions to align with the unique infrastructure of each organization, integrating PKI seamlessly into existing systems, and providing managed PKI services to streamline certificate management. Furthermore, PKI service providers play a vital role in ensuring compliance with stringent regulatory standards and industry best practices. Their training and support services empower organizations to maximize the benefits of PKI while maintaining the highest levels of security.
Based on vertical, the healthcare segment is to grow at the highest CAGR during the forecast period
The healthcare sector is poised to experience the highest compound annual growth rate within the PKI market during the forecast period, signaling a significant shift towards robust security and digital trust solutions. Several key factors contribute to this remarkable growth trajectory. The healthcare sector deals with highly sensitive patient data, making data security and patient privacy paramount concerns. PKI’s encryption and authentication capabilities provide a robust framework for safeguarding electronic health records, ensuring the integrity of medical data, and enabling secure sharing of patient information among healthcare providers. The COVID-19 pandemic has accelerated the adoption of telemedicine and remote healthcare services. The need for secure and trusted digital identities and communications has surged as the healthcare industry increasingly relies on digital platforms for remote consultations, diagnosis, and patient monitoring. PKI plays a pivotal role in enabling secure telehealth services, ensuring that patient data remains confidential and unaltered during remote interactions.
North America to hold the largest market share during the forecast period.
North America holds the largest market share during the forecast period in the PKI market, underscoring the region’s strong emphasis on cybersecurity, digital innovation, and regulatory compliance. North America is home to many enterprises, financial institutions, healthcare organizations, and government agencies, all of which rely heavily on robust cybersecurity solutions like PKI to protect sensitive data and ensure secure online transactions. The region’s recognition of PKI as a fundamental element of cybersecurity strategy drives its substantial market share. The United States, in particular, has a highly developed cybersecurity ecosystem, with numerous cybersecurity companies, research institutions, and government initiatives focused on enhancing digital security. This environment fosters innovation and adoption of advanced PKI solutions to address emerging threats.
Top Key Companies in Public Key Infrastructure (PKI) Market:
The major players in the Public Key Infrastructure Market are Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US).
April 2023 – Thales adds new phishing-resistant hybrid authenticators to its Passwordless Authentication for Microsoft Azure Active Directory Customers offering.April 2023 – Entrust Introduces Zero Trust Ready Solutions for Multi-Cloud Key Compliance, Next-Generation HSM, and Passwordless AuthenticationJanuary 2023 – A comprehensive digital trust system that combines public key infrastructure (PKI), certificate management, and certificate authority (CA) services was introduced by DigiCert. A significant product launch is Trust Lifecycle Manager, which is currently accessible as a component of the DigiCert ONE platform.February 2022 – To increase public trust in the cloud, Thales announced the continuation of its cooperation with Google Cloud. Organizations can confidently use the Google Cloud Platform (GCP) if the connection is stronger. The technique known as ubiquitous data encryption, which combines Thales’ Cypher Trust Cloud Key Manager and Google Cloud’s Confidential Computing, is activated. Customers can create and manage the encryption keys for data sent to Google Confidential Cloud Computing using the Thales Cypher Trust Data Security Gateway.Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=145372975
Public Key Infrastructure (PKI) Market Advantages:
Using cryptographic techniques to shield data from unauthorised access and manipulation, PKI offers a solid framework for protecting digital communications and transactions.Sensitive data is kept private and secure during transmission and storage because to PKI’s data encryption capabilities.Organisations are able to confirm the identity of users and devices before authorising access to sensitive resources thanks to PKI, which enables secure user and device authentication.Digital signatures can be created and verified with PKI, protecting the integrity and legitimacy of electronic documents and transactions.PKI offers non-repudiation, which makes it impossible for participants to claim they were not involved in a transaction because digital signatures serve as evidence of validity.Through techniques like S/MIME (encrypt/Multipurpose Internet Mail Extensions), PKI can encrypt email connections and protect the confidentiality and integrity of email information.Organisations can authorise access to systems and data based on certificate validation using PKI-based access controls, which provides an additional layer of protection.By issuing and managing digital certificates, PKI facilitates identity management by streamlining user access and account management.PKI offers a secure framework for data protection and identity verification, assisting organisations in adhering to legal and compliance standards.Report Objectives:
To define, describe, and forecast the Public Key Infrastructure Market based on segments based on offering, deployment mode, organization size, application, and vertical with regions covered.To forecast the size of the market segments with respect to five regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.To provide detailed information on the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Public Key Infrastructure Market.To analyze each submarket with respect to individual growth trends, prospects, and contributions to the global Public Key Infrastructure Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global Public Key Infrastructure Market.To profile the key market players, such as top and emerging vendors; provide a comparative analysis based on their business overviews, product offerings, and business strategies; and illustrate the market’s competitive landscape.To track and analyze competitive developments in the market, such as new product launches, product enhancements, partnerships, acquisitions, and agreements and collaborations.Browse Adjacent Market: Information Security Market Research Reports & Consulting
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Zero-Trust Security Market – Global Forecast to 2028
AML Market – Global Forecast to 2028
Cloud Security Market – Global Forecast to 2028
Managed Security Services Market – Global Forecast to 2027
Emotion Detection and Recognition Market – Global Forecast to 2027
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