Outlook of the global managed security services market
Technavio’s market research analyst predicts the global managed security services market to grow steadily at a CAGR of nearly 12% until 2020. The high adoption of managed services due to their high convenience and service quality assurance for end users will result in this market’s growth during the forecast period. Additionally, benefits like its ability to reduce the IT budget and to provide high levels of responsiveness, and ensure quick fault resolution will augment the adoption of managed security services until the end of 2020.
The increasing demand from SMBs is the key driver for the growth of this market. In recent times, it has been observed that the changing aspects of businesses have prompted organizations worldwide to overhaul their existing business models and infrastructure. Security services support the growth of a company by optimizing their business processes and improving their operational efficiency. Since these services offer high-level security for sensitive or confidential information, their demand from SMBs will increase rapidly during the forecast period.
Segmentation by deployment type and analysis of the managed security services market
- Cloud-based managed security services
- On-premises managed security services
In this market study, analysts have estimated the cloud-based managed security services segment to account for more than 56% of the total market share by 2020. Since cloud-based managed security services are easy to implement and maintain, their rate of adoption will witness a significant increase by 2020. Also, factors such as the growing preference of IT companies to reduce their IT expenditure and invest more in their core operations will result in the augmented adoption of
Outlook of the global mobile payment security software market
Technavio’s market research analyst predicts the global mobile payment security software market to grow at an impressive CAGR of around 24% during the forecast period. One of the major drivers for this market is the recent increase in the usage of wireless networks among the individual consumers. The augmented utilization of wireless networks in mobile devices for payment in retail stores has increased the need for mobile payment security software. With an increase in the number of advanced and sophisticated threats, the need for mobile payment security software has risen. This increase in the need for a secure mobile payment platform will bolster the prospects for growth in this market.
The growing adoption of multi-factor authentication techniques will aid in the growth of this market during the forecast period. Multi-factor authentication is a verification technique that uses two or more different authentication methods to prevent unauthorized access to financial details of the customers. This method utilizes various authentication techniques, such as smart cards, phone-based authentication, and biometrics technologies, to authenticate payment transactions on mobile devices.
Geographical segmentation of the mobile payment security software market
In this market study, analysts have estimated the Americas to account for more than 45% of the total market share by 2020. Due to the high penetration rate of smartphones and an increase in the number of mobile internet users, the adoption of mobile payment is increasing in the US. Also, the populace’s growing awareness about the usage of digital wallets for e-commerce transactions will also aid in the growth of this market in the Americas.
Overview of the privileged identity management (PIM) market
Market research analysts at Technavio have predicted that the global privileged identity management (PIM) market will grow impressively during the forecast period and will post a CAGR of almost 20% by 2020. With the rapidly changing IT environment, hackers are deducing different techniques to access valuable information and disrupt businesses. The rapidly increasing dependency of private enterprises and the government on web applications leads to an unprecedented rise in cyber attacks and advanced threats. Moreover, social networking sites and the rise in the adoption of m-commerce has also led to the growth in the number of identity thefts. This increasing dependence on the Internet for both organizational and personal operations will drive the demand for the adoption of effective PIM systems.
In terms of geography, the Americas will account for about 42% of the total shares of the market and dominate the industry throughout the forecast period. The high frequency of cyber-attacks in the US that subsequently led to the introduction of strict compliance regulations is one of the major reasons for the growth of the PIM software market in this region. Also, the presence of several large financial services organizations and the increasing adoption of PIM solutions by the US government will also drive the growth of the market.
Competitive landscape and key vendors
The market has the presence of several established PIM companies, and this report categorizes the vendors in the global PIM market into two main groups. Large diversified IT vendors who have a presence in multiple IT verticals and also have a wide geographic presence who differ from pure-play vendors based on
Outlook of the DNA forensic market
Technavio’s market research analyst predicts the global DNA forensic market to grow at a CAGR of over 20% during the forecast period. The demand for DNA forensic solutions is increasing rapidly due to rising security concerns at airports, railways, seaports, and borders. The recent increase in the frequency of crimes, particularly drug-related, gun violence, terrorist attacks, sexual assault, kidnapping, and homicide, will also aid in the steady growth of this market until the end of 2020.
Another factor that impels growth in the market is the increase in pure-play vendors. With the introduction of new technologies, numerous vendors are likely to enter the market. The high growth potential of this market will allow the new vendors to explore their capabilities and expertise, which in turn will increase the global reach of the vendors and their technologies in both developed and developing countries. Due to the growing awareness among end users, the application base of these technologies will also increase.
Segmentation by application and analysis of the DNA forensic market
- Law enforcement
- Personal security
In 2015, the law enforcement segment dominated this market and accounted for a market share of over 30% due to the high spending capability of this sector. Factors such as growing awareness among end users, increasing awareness campaigns, and the adoption of new marketing strategies by vendors will result in the strong growth of this market segment during the forecast period.
Geographical segmentation of the DNA forensic market
Overview of the global wireless LAN (WLAN) security market
Technavio’s market research analyst predicts that the global wireless LAN (WLAN) security market will grow at a CAGR of around 20% by 2020. The recent increase in the volume of transmitted data across the network and the data stored in storage devices such a server has led to the introduction of several advanced computing techniques. These computing techniques have intensified the demand for WLAN, resulting in an increased need for WLAN security solutions to protect the network from cyber-attacks. In addition, the wide adoption of the bring-you-own-device (BYOD) policy among enterprises, which involves the use of personal devices like laptops, smartphones, and tablets for official purposes has boosted the demand for WLAN security solutions. With the growing adoption of Internet-of-things (IoT) and BYOD globally, the demand for a modernized network structure will increase significantly, which will eventually augment the need for WLAN security solutions during the predicted period.
APAC will be the fastest-growing region in the WLAN security market during the forecast period and will post a CAGR of more than 24% by 2020. Much of the region’s growth can be attributed to the increased use of mobile devices and upcoming technologies, which allows users to implement WLAN for enhanced performance over the network in terms of the increase in the transmission rate of data. With more small and medium enterprises (SMEs) adopting cloud-based services, there is a greater requirement for WLAN security solutions to protect the network and ensure the security of the transmitted data, which will boost the growth of the overall market in the region in the coming years.
Competitive landscape and key vendors
Intense competition prevails in this market because there
Overview of the global security screening systems market
Market research analysts at Technavio have predicted that the global security screening systems market will grow steadily and post a CAGR of more than 9% by 2020. This market research analysis identifies that the emergence of computed tomography security screening will be one of the major trends that will gain traction in this market during the predicted period. Computed tomography or CT is an imaging procedure that creates detailed pictures or scans of areas inside the body with the help of a specialized X-ray equipment. It can also combine radiographic cross-sections of contents and produce composite 3D images of baggage contents. This helps to detect threats based on volume and density and offers airport authorities a more detailed view of the baggage. This security screening equipment will reduce the screening time and also does not require travelers to separate electronic devices from their baggage.
In terms of geography, the Americas is expected to dominate this industry in the coming years and this region will account for a total market share of about 38% by 2020. The market in this region is mainly dominated by the US, and this is attributed to the significant increase in air traffic which creates the requirement for the installation of advanced airport security equipment, strict border control procedures, and passenger and cargo screening.
Competitive landscape and key vendors
Vendors in the security screening systems market are mainly focused on expanding their product portfolio. They are constantly investing in their R&D and concentrate on
With the volume of sensitive data being generated each day increasing exponentially, it is necessary to have safeguards in place to protect information from unauthorized access. In this respect, there are numerous cyber security tools available on the market that are designed to protect information; anti-virus software is one example.