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Inject New Impetus to Digital Economy, Global Digital Economy Innovation Contest 2022 Final was Launched

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Digital leads the future, innovation gathers strength, entrepreneurship liberates dreams. The highly-anticipated Global Digital Economy Innovation Contest 2022 Final was launched at the China National Convention Center on July 28.

The Global Digital Economy Conference (hereinafter referred to as GDEC) 2022 is hosted by People’s Government of Beijing Municipality, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Commerce, Cyberspace Administration of China, and China Association for Science and Technology. As an important part of GDEC 2022, this contest is jointly organized by Beijing Municipal Bureau of Economy and Information Technology, Chaoyang District People’s Government of Beijing Municipality and Asia Digital Group. Themed “Tech Innovation, Industry Empowerment – New Pattern of Digital Economy”, based on internationalization, professionalization and industrialization, this contest gathers 200+ investment mentors from around the world, 500+ roadshow projects from 20+ countries including FinlandFranceGermanySingaporethe United States, the United KingdomSouth KoreaNorwaySwedenRussiaHungaryItalyBelgiumAustriaIsrael, etc., holding 1 final contest and 5 preliminary contests, and activities in the forms of supporting exhibition, industry matchmaking, cloud contest, metaverse session, etc., creating the “1 + 5 + N” overall contest architecture, focusing on the new generation of information technology, digital healthcare, digital art and sports, digital low carbon, digital consumption, digital manufacturing, and other key global digital economy development industries, penetrating into 20 + niche areas, providing an important platform for global digital economy makers to display and communicate.

Attending the final are Jiang Guangzhi, party member and deputy director of Beijing Municipal Bureau of Economy and Information Technology, and Shu Bilei, party member and deputy district mayor of Chaoyang District People’s Government of Beijing Municipality and delivered speeches. Zhang Li, executive vice president of Asia Digital Group sent her message to the contest and served as a judge. An Jing, managing partner of Ultrabuttonwood Capital, Bian Chao, founding partner of Yuankun Venture Capital, Deng Yuanyun, partner of Kaiyun Motors and president of NGP Capital Investment Committee, Gao Qingyi, partner of Innolink Fund Capital, Han Ze, partner of Fenrui Capital, Ji Li, managing director of Huagai Capital Digital Fund, Quan Le, vice president of Shenzhen Capital Group Company (SCGC) North China HQ, Wang Jianning, vice president of Bank of Beijing City Sub-center Branch, Xie Tao, managing director of China Mobile Capital Investment, Xu Yong, founder of AC Accelerator, Yang Ge, founding partner of Skysaga Capital, and Zhou Yun, partner of Mount Morning Capital, served as judges for the final.

Visionary insight, discuss the new future of digital economy

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Around the world, the accelerated innovation of the Internet, big data, cloud computing, AI, block chain and other information technologies actively boosted the development of digital economy into a global consensus, launched a series of development plans and relevant policies to realize rapid development of digital economy through innovation.

In the final of this contest, Jiang Guangzhi, party member and deputy director of Beijing Municipal Bureau of Economy and Information Technology stated in his speech that, Beijing conducted in-depth implementation of national digital economy development strategy, issued the Implementation Plan of Beijing Accelerate the Construction of Global Digital Economy Benchmark City, and a series of policies, gave full play to Beijing’s science and tech talents and the advantage of gathering information industry and innovation resources, constantly drove the construction of global digital economy benchmark city, and achieved positive results in three aspects. First, proposed the digital original infrastructure construction, made new progress in new type of smart city. Second, deployed digital technology in advance, promoted breakthrough innovation in benchmark technology. Third, constantly promoted benchmark engineering projects, led the steady development of digital industry.

Shu Bilei, party member and deputy district mayor of Chaoyang District People’s Government of Beijing Municipality stated in his speech that, Chaoyang district will further focus on the construction of global digital economy benchmark city and global center for science & technology innovation, strengthen the key core technology breakthrough, continue to guide the consumer, financial, cultural and other competitive industries to conduct digital transformation, increase openness of smart city, education, healthcare, and other areas of the people’s livelihood and city governance application scenarios, improve the layout of new infrastructure such as 5G and computing centers, and continue to create a favorable environment for innovative development of the digital economy.

Zhang Li, executive vice president of Asia Digital Group, stated in her message that under the joint support of various parties from all over the globe, Global Digital Economy Innovation Contest 2022 will have greater influence in the world, and will effectively promote the construction and development of Beijing Global Digital Economy Benchmark City and the high-quality development of digital economy of Chaoyang district in Beijing. At the same time, Chaoyang district, with its premium business environment and rational layout of digital economy development, will attract more global makers to seek development and realize their dream of digital economy here.

London Breed, mayor of San Francisco, US, sent a congratulatory letter to the contest. She expressed that San Francisco is one of the leading cities in innovation. Many important developments of the digital world originated from San Francisco and are now widely applied on a global scale. People’s daily life improved rapidly because of the digital economy, and the development of San Francisco coincides with the theme of GDEC 2022, namely “Embrace a Digital Future—New Factors, New Rules, New Patterns”.

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Roadshow Contest, striving for new benchmark of digital economy

The 11 projects shortlisted for the final of the contest include 3 overseas projects and 8 Chinese projects, covering AI edge computing, satellite IoT, sports technology, smart sports, intelligent service robots, environmental protection, intelligent manufacturing, intelligent automobiles, etc. In the final of the contest, the judges comprehensively evaluated 11 projects from 8 dimensions: project, product description, team and equity design, business model, market and marketing, competitiveness analysis, financial condition, operation condition, industrial policy, legal and regulatory risks.

Guizhou PIX Moving Intelligent Technology Co., Ltd. presented the project of PIX pixel intelligence at the roadshow. Based on original modular chassis architecture, distributed drive and the independently developed mass production factory featuring generative design + digital manufacturing, PIX built the industrial mid-platform for autopilot and intelligent automobile, flexibly matching with different application scenarios, supporting the development of driverless special vehicles, commercial vehicles and passenger cars, covering dozens of industries including mobility, logistics, retail, security and defense, agriculture, real estate.

Chengdu Yuntu WiseVision Technology Co., Ltd. shared the project of edge computing plus AI algorithm, which provides a whole lifecycle standard edge AI computing infrastructure for AI algorithm production, algorithm sales, and application deployment. The company has achieved a comprehensive output value of 30 million RMB in 2021 and maintained a 3-fold annual growth rate.

Beijing Guodian Gaoke Technology Co., Ltd. shared the project of self-constructed and operated China’s first LEO satellite IoT constellation “Tianqi constellation”, providing global users with “space-air-ground-sea integrated” satellite IoT data communication services, so that China finally has its own LEO IoT constellation and not constricted by others anymore, creating great economic and social value for various industries.

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LD sports technology (Beijing) Co., Ltd. shared the project of fitness equipment intelligent system and network service platform. By leveraging virtual simulation technology, AI and network technology, it provides intelligent detection module, interactive software and network services platform for all brands of fitness equipment including spinning, exercise bike, treadmill, elliptical machine, rowing machine and stepper, can simulate outdoor cycling, running, rowing and other sports, and can analyze sports posture and data.

Nanhuai Intelligent Technology (Shanghai) Co., Ltd. shared the project of Little Elephant Alfy interactive sports space applying LIDAR positioning and holographic projection technology. The project has 14+ patent intellectual property rights. By integrating the fun of sports, social sharing, competitive events, training data recording and big data analysis, it guides users to form exercise and fitness habits, helps traditional gyms to conduct intelligent data upgrading and transformation, enriches and optimizes service content and projects.

Zhejiang Fubao Intelligent Technology Co., Ltd. shared the project of intelligent robot service solution for whole medical scenario, boosting the construction of smart hospitals, smart elderly care and smart city construction. The company holds the first CR certified service robot certificate in the industry, with successful cases covering healthcare, elderly care, finance, government affairs, transportation, Party building, etc. At present, it has more than 30 industry benchmark clients and implemented solutions in more than 10 market segments.

E3A Healthcare Pte Ltd from Singapore shared the project of MIoT diagnostics and treatment solution for family health. The company’s core team has been working on optoelectronic technology for many years, with scientific and technological achievements including over 30 domestic and overseas patents and software copyrights. At present, it has completed three rounds of fund raising, with investors including National University of Singapore, Hong Kong X Fund and South Korea SUNBO Angel Fund, etc.

Shenzhen Meikyo Environmental Protection Technology Co., Ltd. shared the project of mobile phone disassembling robot. It is the world’s first commercially available disassembling robot and is currently in operation in Chiba PrefectureJapan. The goal of the company is to set up processing plants globally, use self-developed robots for all kinds of electronic solid waste disassembling processing, solve issues in global electronic solid waste processing information security and “carbon peaking and carbon neutrality goals” circular economy.

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OLI shared the project mainly addressing the increased power uncertainty due to the rising proportion of sustainable energy, the large-scale application of energy storage technology, and enterprise carbon footprint accounting requirements in the national carbon neutrality strategy. Based on block chain technology, the company develops green power label, smart charge and discharge, real estate energy management products, integrates and develops regional electricity market and virtual grid products.

SHINEtoilets also from Germany, shared the project of sustainable health solutions providing 100% environmental protection. Instead of water, electricity and sewage, the project generates electricity from photovoltaic cells and fertilizes through natural waste disposal. Water is collected and recycled through vertical farms, dramatically reducing global water consumption and carbon emissions.

Changhui Auto Steering System (Huangshan) Co., Ltd. shared the project of vehicle electric power steering system (EPS). Changhui EPS mainly serves new energy electric vehicles and boosts the acceleration of electrification in the new energy industry, which is not only in line with the national development strategy, but also meets the rigid market demand. The company has its unique innovative invention patent, currently self-exports to more than 20 countries and regions overseas, provides original components to more than 40 automobile OEMs.

The final results of the contest will be announced at the Press Conference on Achievements of GDEC 2022 to be held on the 30th, and a number of high-quality digital economy projects will sign cooperation agreements with Chaoyang district, Beijing. During the final, there will also be closed-door industry meetings, where outstanding enterprises in the field of digital economy will be invited to demonstrate the project, and officials of Chaoyang district will have in-depth communication and interaction on digital economy, policy, space, etc. In addition, the cloud platform of the contest uses digital technologies such as digital twin, AI, holographic projection, VR and AR to build a metaverse space and brings immersive viewing experience to the audience. At the same time, many high-quality projects in the field of digital economy will not only be displayed in the contest venue, but also be exhibited to the global audience through cloud platform.

Throughout the whole process of the contest, a number of outstanding projects with global competitiveness, innovative ideas and guiding the industry’s future development are gathered through the contest platform, injecting new impetus into the high-quality development of digital economy in China.

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Artificial Intelligence

Dark Fiber Market Size to Grow USD 7594 Million by 2030 at a CAGR of 9.09% | Valuates Reports

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BANGALORE, India, Oct. 7, 2024 /PRNewswire/ — Dark Fiber Market is Segmented by Type (Single-Mode, Multi-Mode), by Application (Telecom, Oil & Gas, BFSI, Military & Defense, Medical, Railway, Others): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Dark Fiber Market was valued at USD 4475 million in 2023 and is anticipated to reach USD 7594 million by 2030, witnessing a CAGR of 9.09% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Insect Dark Fiber Market:
The dark fiber market is experiencing robust growth due to the increasing demand for high-speed internet, data transfer, and secure communication infrastructure across various industries. Dark fiber refers to unused fiber-optic cables that are available for lease or purchase, allowing enterprises and service providers to establish private networks with dedicated bandwidth. The surge in data consumption, driven by cloud computing, 5G deployment, data centers, and IoT, has intensified the need for scalable and high-capacity networks, which dark fiber can provide. Additionally, sectors like telecom, IT, and healthcare are adopting dark fiber solutions to ensure better connectivity, network control, and security.
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TRENDS INFLUENCING THE GROWTH OF THE DARK FIBER MARKET
Single-mode fiber plays a crucial role in driving the growth of the dark fiber market due to its ability to support long-distance communication with minimal signal degradation. This fiber type offers high bandwidth and superior performance, making it ideal for telecommunication companies and data centers that require efficient transmission over extensive networks. The rapid increase in data consumption, driven by emerging technologies like 5G, cloud computing, and IoT, has intensified the demand for single-mode fiber. Its cost-effectiveness for long-haul applications further enhances its adoption, as it allows for higher transmission speeds and capacities over longer distances, making it a preferred choice for large-scale network expansion projects.
Multi-mode fiber is a key driver in the dark fiber market due to its efficiency in short-distance data transmission. Multi-mode fibers are particularly effective for data centers and intra-building communication networks where the focus is on high-speed connections over shorter distances. The demand for electric dark fiber, especially in urban infrastructure and renewable energy projects, has surged as these sectors require reliable, high-capacity data transfer solutions. Multi-mode fiber’s cost-effective installation and maintenance, along with its ability to handle high bandwidth over shorter distances, contribute significantly to the market’s growth, providing a reliable infrastructure for electric utilities and smart grid projects.
Telecom is one of the most significant sectors driving the growth of the dark fiber market due to the increasing demand for high-speed internet, large-scale network deployments, and seamless communication infrastructure. The rapid expansion of 5G networks, the need for backhaul connections, and the proliferation of data-intensive applications have all contributed to the growing adoption of dark fiber in the telecom industry. Telecom providers are leveraging dark fiber to reduce latency, enhance scalability, and increase network efficiency, which are critical for delivering enhanced customer experiences and supporting emerging digital services. As telecom networks continue to expand globally, the demand for dark fiber infrastructure is expected to rise.
One of the primary factors driving the growth of the dark fiber market is the exponential surge in global data consumption. With the widespread use of smartphones, connected devices, and the internet, data traffic has increased significantly. Streaming services, online gaming, video conferencing, and cloud computing are all fueling this growth. Dark fiber infrastructure is essential to accommodate this massive data flow, offering the bandwidth and capacity required to support such intensive usage. As businesses and consumers continue to generate more data, service providers rely on dark fiber networks to ensure faster, more reliable connections and to meet the growing demands for data transmission.
The growing adoption of cloud services by enterprises is another critical factor contributing to the growth of the dark fiber market. As businesses migrate their operations and data storage to the cloud, there is an increased need for high-speed, low-latency networks that can handle large volumes of data transmission. Dark fiber provides the necessary infrastructure for private, scalable, and secure network connectivity to the cloud. Enterprises across various industries, including healthcare, finance, and retail, are leveraging dark fiber to ensure seamless access to cloud applications, thus driving market growth. The continued shift toward cloud computing will likely increase demand for dark fiber solutions.
The rapid expansion of data centers worldwide is significantly boosting the dark fiber market. Data centers serve as critical hubs for storing and managing vast amounts of information. To ensure smooth operation, data centers require high-capacity, reliable, and secure fiber-optic networks. Dark fiber networks provide data centers with dedicated, high-performance connectivity, allowing them to scale their operations efficiently. The growth of edge computing and the need for real-time data processing have further intensified the demand for dark fiber connections in data centers. As the number of data centers grows, particularly in emerging markets, the need for dark fiber infrastructure will continue to rise.
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DARK FIBER MARKET SHARE ANALYSISThe dark fiber market shows varying growth trends across different regions, driven by factors like technological advancements and infrastructure investments. North America leads the market due to the rapid expansion of 5G networks, cloud computing adoption, and increasing data center construction. Europe follows closely, with countries investing in high-speed connectivity for smart cities and telecommunications. The Asia-Pacific region is witnessing significant growth, particularly in China, Japan, and India, driven by increased demand for internet services, telecom expansion, and government initiatives supporting digital infrastructure. Meanwhile, Latin America and the Middle East are also emerging as potential markets, propelled by growing data consumption and the need for improved connectivity in underdeveloped areas.
Key Players:
GTT CommunicationsUFINETVikram GroupDEPLUnite Private NetworksSterlite PowerColt Technology ServicesConsolidated CommunicationsCrown CastleNexGen NetworksSorrento NetworksFirstLightMicroscanWindstream Intellectual Property ServicesPurchase Chapters: https://reports.valuates.com/market-reports/QYRE-Auto-8O16959/global-dark-fiber/1
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–  The global Submarine Cable System market is projected to grow from USD 11810 million in 2023 to USD 18130 million by 2029, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
–  The global Cloud Radio Access Network (C-RAN) market was valued at USD 676.2 million in 2023 and is anticipated to reach USD 1026 million by 2030, witnessing a CAGR of 6.1% during the forecast period 2024-2030.
–  Metro Dark Fiber Market
–  The global Optical Transport Network (OTN) Equipment market is projected to grow from USD 17700 million in 2024 to USD 22790 million by 2030, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period.
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–  The global FTTx Blown Fibre Cable revenue was USD 2536 million in 2022 and is forecast to a readjusted size of USD 5372 million by 2029 with a CAGR of 12.6% during the forecast period (2023-2029).
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–  The global Passive Optical Network (PON) Equipment market was valued at USD 17470 million in 2023 and is anticipated to reach USD 45290 million by 2030, witnessing a CAGR of 14.8% during the forecast period 2024-2030.
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AI Governance Market worth $5,776.0 million by 2029- Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ — The AI Governance Market is anticipated to grow from USD 890.6 million in 2024 to USD 5,776.0 million by the year 2029 at a robust CAGR of 45.3% over the forecast period, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “AI Governance Market”
350 – Tables 50 – Figures450 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD (Million)
Segments covered
Product Type, Functionality, End User, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), Salesforce (US), SAP (Germany), AWS (US), SAS Institute (US), FICO (US), Accenture (Ireland), Qlik (US), H2O.AI (US), Alteryx (US), DataRobot (UK), Dataiku (US), Domino Data Lab (US), SparkCognition (US), Collibra (US), OneTrust (US), Quest Software (US), Fiddler AI (US), Untangle AI (Singapore), 2021.AI (Denmark), Howso (US), Monitaur (US), Mind Foundry (UK), Credo AI (US), Holistic AI (UK), Fairly AI (Canada), Enzai (UK), ValidMind (US), FairNow (US), Mona Labs (US), Arthur AI (US), Trustible (US), Atlan (Singapore), ModelOp (US), Neptune AI (Poland), Patronus AI (US), and Datatron (US).
Regulatory pressure and demands for compliance are driving the AI Governance Market as governments around the world roll out tougher regulations related to AI. For example, the European Union’s AI Act had subjected risk assessments and compliance audits to AI systems, particularly in high-risk sectors like health and finance, thereby increasing demand for the governance framework. Organizations also run the risk of facing reputational damages linked with prejudiced or harmful AI output. A notable example is the controversy caused by OpenAI GPT models, which flagged misinformation and biased data concerns, making businesses adopt robust AI guard rails. On similar note, Amazon’s discontinuation of its biased AI recruiting tool demonstrate the reputational and financial risks of ungoverned AI. Another major reason for market expansion is the uptick in AI adoption across highly regulated industries, especially BFSI and healthcare. Industries operating in these sectors are under immense regulatory pressure to comply with dynamic regulations, leading to increased affinity towards AI governance tools.
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By product type, data governance tools will account for largest market share in 2024 owing to robust data provenance and lineage capabilities.
Data governance tools are poised to account for the largest market share in the AI Governance Market, as these tools help an organization track data quality, provenance, and bias within AI development training data. This is important in order to prevent bias results being generated from AI systems. For example, data governance tools may apply profiling techniques to the dataset in order to ensure fairness, and also put in place data lineage to indicate potential problems with data sourcing. As an increasing number of AI regulations call for documentation, tracking and record keeping especially on the data that feeds AI systems, data governance has become paramount. Data governance also assists enterprises in compliance with regulations through robust AI data traceability and accuracy. Additionally, the metadata repository feature in data governance tools offer centralized catalogs and controls of metadata for data visibility across an organization to ensure trustworthy and responsible AI implementation.
The demand for ethical AI use across ML platforms and generative AI models will push software & technology providers as the fastest growing end user segment during the forecast period
Software & technology providers are poised to become the fastest growing end user segment in the AI Governance Market, buoyed by rapid adoption of AI governance tools to make their AI systems trustworthy and ethical. The rising regulatory scrutiny and the expanding reach of data privacy laws like GDPR and CCPA has also accelerated governance frameworks being adopted across such players. For instance, Microsoft has created an internal AI ethics working group to implement strong ethical guardrails across its AI offerings. On a similar note, Google has formed AI governance framework for developing fair, explainable, and ethical AI solutions. There are also expectations from stakeholders who demand that technology companies create AI responsibly. With AI regulations likely to disrupt every software vendor, incorporating ethical norms and regulation is now of extraordinary importance for technology businesses to maintain the brand’s trust and growth.
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North America is set to hold the largest market share in 2024, fueled by a strong regulatory environment and increasing investments in responsible AI deployment
North America has emerged as the largest regional market for AI government adoption. Federal funding on AI governance in North America crossed USD 1 billion in 2023, indicating a growing interest in responsible AI research. Industries with strict regulations such as healthcare and banking are leading in the implementation of governance, with 45% of healthcare providers mentioning regulatory compliance as a key business requirement. Businesses are forced to implement governance frameworks due to rising regulatory requirements like NIST’s AI Risk Management Framework and the California Consumer Privacy Act (CCPA). More than half of businesses expect more stringent AI rules in the next five years, with 62% citing data privacy compliance as a main factor for implementing governance. Also important is consumer confidence, as 78% of American consumers favor brands that utilize ethical AI. Businesses such as Google and Microsoft are implementing governance to guarantee transparency and establish trust. Additionally, organizations are prioritizing fairness in their AI systems and have turned to tools like IBM’s AI Fairness 360 to address the need to mitigate AI bias, with 56% of businesses doing so. Moreover, financial institutions are particularly focused on risk management, giving priority to governance for addressing AI-related risks.
Top Key Companies in AI Governance Market:
The major players in the AI Governance Market include Microsoft (US), IBM (US), SAS Institute (US), DataRobot (UK), and Dataiku (US), along with SMEs and startups such as Fiddler AI (US), 2021.AI (Denmark), Monitaur (US), Credo AI (US), and Fairly AI (Canada).
Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting
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ModelOps Market- Global Forecast to 2029
AI Studio Market- Global Forecast to 2029
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Artificial Intelligence

Access Control as a Service (ACaaS) Market worth $3.06 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ — The global access control as a service market is expected to be valued at USD 1.34 billion in 2024 and is projected to reach USD 3.06 billion by 2029; it is expected to grow at a CAGR of 17.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Accelerated urbanization in emerging markets is fueling the demand for advanced access control solutions. Growing adoption of cloud-based Access Control as a Service (ACaaS) is transforming security management systems. Increasing integration of access control systems with employee management and HR platforms is enhancing operational efficiency in the access control as a service market. Increasing shift toward subscription-based business models is fostering recurring revenue streams for security service providers. Growing demand to manage global security operations from centralized locations is pushing the adoption of unified security platforms in the access control as a service market.

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Browse in-depth TOC on “Access Control as a Service (ACaaS) Market” 162 – Tables64 – Figures226 – Pages
Access Control as a Service (ACaaS) Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.34 billion
Estimated Value by 2029
$ 3.06 billion
Growth Rate
Poised to grow at a CAGR of 17.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Service Type, Cloud Deployment Model, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Unauthorized Access and Data Breach
Key Market Opportunities
Unauthorized Access and Data Breach
Key Market Drivers
Increased adoption of IoT-based security systems and cloud computing platforms
Commercial vertical to hold the highest market share during the forecast period.
Commercial vertical will account for the largest market share in the ACaaS market during the forecast period. This can be attributed to the increasing need for secure access management solutions across commercial buildings, offices, and retail spaces. Scalability, cost-effectiveness, and even remote access management abilities are making cloud-based ACaaS increasingly attractive within this segment. With increasing urbanization and infrastructure development, coupled with the trend of smart buildings, demand for advanced security systems is rising in the commercial segment, which is further basing its strength in the ACaaS market.
By Service Type, Hybrid segment is projected to grow at a high CAGR of Acalas industry during the forecast period.
A hybrid access control service may be marked as a combination of both hosted and managed access control. In this type of access control, a certain part of the access control system is handled by the end user while the rest of the function is outsourced to a third-party vendor. In this model, permissions are not directly associated with the attributes or the roles. In dynamic role assignment, roles are assigned to users based on the attributes provided by the user, which are then adopted for authentication purposes. Once the roles are assigned, authorization starts whereby the user is granted access based on the assigned roles. The hybrid access control service will act as a catalyst in driving better threat visibility, rapid and effective attack response, minimizing cyber security risks, and being compliant with the latest regulations and standards.
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Asia Pacific will account for the highest CAGR during the forecast period.
In Asia Pacific, China is amongst the largest countries in the world and one of the largest manufacturers and producers of industrial goods. Agaas has grown and developed immensely in the recent years as, to address margin-related issues that Chinese suppliers have been causing, lately manufacturers are adopting cloud-based solutions. The large-scale industrialization of the country has given birth to the growing need for security systems. Thirdly, consistent R &D expense resulted in the innovation of highly sophisticated systems that can meet the diversified user needs. In government sectors, access control system had been employed to raise security measures and take instantaneous action against looming threats. AcaaS – The software and data are retained at vast data centres instead of being retained locally on on-premises servers. Hardware systems remain the same, similar to those in an access control system. Hence, Acaas save the operational costs of institutions considerably with no compromise on the standards of security. In residential areas too, the demand for Acaas is tremendous, thanks to the ever-growing requirement of securing personal properties.
Key Players
Key companies operating in the ACaaS companies are Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Thales (France), ASSA ABLOY Group (Sweden), dormakaba Group (Switzerland), Identiv, Inc. (US), Kastle Systems (US), AMAG (US), Brivo Systems, LLC. (US), and Cloudastructure Inc. (US) among others.
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