Post COVID-19, According to a research report “COVID-19 Impact On Intelligent Process Automation Market by Component, Vertical, and Region – Global Forecast to 2025″ published by MarketsandMarkets, the impact of COVID-19 on the global Intelligent Process Automation (IPA) Market size is expected to grow from USD 10.0 billion in 2020 to USD 16.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. Over the years, organizations have enhanced the level of innovation; and with the outbreak of COVID-19, a majority of operations have been compromised. This has forced organizations to function in a non-optimized manner, as a result of which they are looking for innovative areas that can improve their revenue by a small percentage.

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Information Technology service vertical to witness the highest market growth during the forecast period within the global intelligent automation market

Most of the processes in the IT vertical are already operated on the cloud infrastructure and had a minimal impact on COVID-19. The demand for paperless workflow is increasing the demand for IPA solutions in the IT vertical. However, lockdowns and social distancing have reduced the demand in the economy, causing a huge financial crunch, and firms are reluctant to spend an additional amount on the IT infrastructure. IT spending is set to decline by 2.5% in 2020.

Nearly every IT firm is operating from home and collaborating over the cloud infrastructure to improve communication further and improve the business process. IT firms are further automating the tasks, increasing the demand for IPA-led automated software and low-code application platforms in the coming years. Lockdown led an increase in the use of electronic devices and applications more often, which further increases the chance of planting a range of malware into devices easier due to the possibility of poor IT support.

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The component segment, by solutions, is expected to see high growth during the forecast period in the global Intelligent Process Automation Market

Owing to the work from home scenario, most industry verticals are facing operational delays and issues in employee supervision, impacting the need for an efficient operational model using digitization and automation. It is expected to affect the IPA solutions industry as the demand increases with more and more organizations adopting digitalization and automation. There is a need to increase digitalization in organizations, making digitalization a major driver for various organizations to adopt the IA process. The other benefits are improved operational efficiency and time management that are increasing the adoption of IPA tools. Applications, such as digital assistance using bots, are being deployed to answer customer queries in various organizations. Amid COVID-19, organizations will increase digital innovations by prioritizing digital channels to ensure operational consistency.

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North America is expected to hold the highest market size in the Intelligent Process Automation Market

North America held the largest market share in the impact of COVID-19 on the IPA market across the major verticals. COVID-19 has severely affected the North American region due to various factors, such as a high number of immigrants traveling in the region, no initial stage lockdown in the country, and presence of a large number of virus carriers in the country at once, spreading the disease at a rapid pace.

North America, being one of the most developed regions, has heavily invested in technologies such as automation, analytics, AI, and ML. The developed infrastructure and growth in the demand for digitalized technologies across North America is driving the implementation of IPA among industries. Most industries are using AI to create different predictive models so that they can be aware of the market dynamics during this pandemic.

These verticals are expected to grow at a much high rate than expected in 2020. Overall the market will be impacted by COVID-19 led financial crunch, and the region will witness low adoption of the IA process in 2020. However, the strong adoption of IPA solutions is expected from 2021. The major vendors in the Intelligent Process Automation Market include Accenture (Ireland), Atos (France), IBM (US), Capgemini (US), Cognizant (US), Blue Prism (UK), TCS (India), Wipro (India), CGI (Canada), HCL technologies (India), Tech Mahindra (India), UiPath (US), Xerox (US), DXC Technology (US), NTT Data (Japan) Infosys (India), Pegasystems (US), PwC (UK).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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According to market research report “Application Transformation Market by Service (Cloud Application Migration, Application Replatforming, Application Integration), Organization Size, Vertical (Retail, IT & Telecom, Government, Healthcare, Manufacturing), and Region – Global Forecast to 2024″, The global application transformation market size to grow from USD 9.7 billion in 2019 to USD 16.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.6% during 2019–2024.

The emergence of cloud and big data technologies has taken the transformation process to a new and advanced level. The enterprises are striving to achieve a competitive advantage, which can be achieved with the application transformation process in place. The constant need to be updated with new technologies and enhance the Return on Investment (RoI) requires a scientific approach and agile methodology to mitigate the key risks and challenges involved in the existing legacy applications. These factors are expected to drive the global application transformation market.

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44 – Tables

28 – Figures

114 – Pages

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Application integration service to account for the highest market share during the forecast period

Application integration is the process of integrating one or more application program’s data or processes with that of other application programs. The existing legacy applications can be integrated into new applications, which leverage the internet, eCommerce, extranet, and other new technologies. Application integration assists in the maintenance and presentation of the data in various application systems, which are synchronized. It can connect to backend application systems to retrieve and insert data. Application integration is necessary for organizations to optimize their IT landscapes, gain business agility, and easily access data from devices and social channels.

Large enterprises to account for a higher market share during the forecast period

Large enterprises are defined as business entities employing over 1,000 employees. The adoption of application transformation in large enterprises is high, and the trend is expected to continue during the forecast period. The large enterprises are keen to invest in new and latest technologies to run their business effectively. These enterprises are modernizing their legacy applications to reduce their Capital expenditure (CapEx) and Operating expense (OpEx). The enterprises have dedicated in-house Information Technology (IT) resources with large IT budgets, therefore, can consider deploying a variety of application modernization strategies.

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North America to account for the highest market share during the forecast period

The US accounts for the highest market share in the application transformation market. The US and Canada are also the leading countries in retail, financial services, banking, and other industries, such as transportation and manufacturing. The US is expected to have the highest market share among all the countries in the application transformation market during the forecast period. It is a technologically advanced country with strong regulations for various verticals.

Major vendors in the global application transformation market include Atos (France), Tech Mahindra (India), Fujitsu (Japan), HCL (India), Cognizant (US), Pivotal Software (US), Accenture (Ireland), IBM (US), TCS (India), Asysco (Netherlands), Unisys (US), Hexaware (India), Oracle (US), Micro Focus (UK), Bell Integrator (US), and Macrosoft (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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According to new market research report on “Microsegmentation Market by Component (Software and Services), Security Type (Network Security, Database Security, and Application Security), Service, Organization Size, Deployment Type, Vertical, and Region – Global Forecast to 2022″,

The global microsegmentation market size is expected to grow from USD 670.3 Million in 2017 to USD 2,038.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. The major factors driving the growth of the microsegmentation market include increase in network connectivity and data theft, and maintaining safe third-party access.

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85 – Tables                                             

43 – Figures

142 – Pages   

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The consulting and advisory services segment is expected to have the largest market size in the microsegmentation market during the forecast period.

Counseling and warning administrations assume a huge job in accomplishing the zero trust security display through microsegmentation. They give key bits of knowledge to the operational, authoritative, and innovative change to different verticals relying on their necessities. In addition, these administrations offer an imaginative administration layer structure to help set up a cutting edge security design.

The managed services segment is expected to grow at the highest CAGR during the forecast period.

Overseen administrations are in effect quickly embraced by created nations, for example, the US and Canada. Overseen administrations assume a tremendous job in the sending of microsegmentation programming as indicated by prerequisite of customer. Overseen administrations incorporate all the pre-and post-organization questions and needs of the clients. These administrations may incorporate arranging, structuring, testing, coordination, upkeep, and backing. These administrations are primarily re-appropriated for on-time conveyance, decrease of capital use, working costs.

The Banking, Financial Services, and Insurance (BFSI) vertical is estimated to have the second largest market size in 2017.

The security arrangements help budgetary specialist co-ops ensure their clients, meet government and industry consistence norms, encourage security reviewing, and stay away from the harm to notoriety brought about by information breaks. This part is constantly redesigning its preparing and exchange advancements and expects start to finish security answers for upgrade activities against both inside and outside dangers.

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North America is expected to have the largest market share in the microsegmentation market during the forecast period.

North America is relied upon to have the biggest market share and rule the microsegmentation market amid the gauge time frame. The area has the nearness of major feasible and entrenched economies who put significantly in Research and Development (R&D) exercises, in this way adding to the advancement of new security arrangements.

The district contains nations, for example, the US and Canada, which are seeing the huge appropriation of microsegmentation arrangements. Increment in ransomware assaults on the associated gadgets, developing utilization of security virtualization and distributed computing, and expanding requirement for security upgradation are a portion of the central point driving the development of the North America market. The straightforwardness in guidelines and critical government spending has impelled advancements in the district.

The real merchants in the microsegmentation market incorporate VMware (US), Cisco (US), Unisys (US), vArmour (US), Juniper Networks (US), OPAQ Networks (US), ShieldX Networks (US), Cloudvisory (US), Extra Hop (US), GuardiCore (MEA), Bracket Computing (US), illumio (US), Nutanix (US), and August Schell (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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According to new market research report “Digital Banking Platforms Market by Banking Type (Retail Banking and Corporate Banking), Banking Mode (Online Banking and Mobile Banking), Deployment Type (On-Premises and Cloud), and Region – Global Forecast to 2023″, The digital banking platforms market is projected to grow from USD 3.3 billion in 2018 to USD 5.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.2% from 2018 to 2023

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111 – Pages   

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The developing call for amongst banks to provide client experience and the increasing adoption of the cloud-based systems to attain better scalability and flexibility are predicted to pressure the growth of the Digital banking platforms market across the globe. The increasing call for for streamlining enterprise techniques and the developing adoption of smartphones and pills also are anticipated to gas the increase of the digital banking platforms market.

Based on banking types, the retail banking segment is expected to grow at a higher CAGR during forecast period

Based on banking sorts, the retail banking is predicted to grow at better CAGR from 2018 to 2023. Retail banking has emerged as an important enabler within the digital banking platforms market to translate the banking fashions across the globe. With the growing number of channels, financial institutions are changing their running processes to offer customers with top rate offerings and enhance their account management. The changing purchaser expectations and behaviors and the developing digital technology are contributing to the boom of the retail banking section.

Based on banking modes, the online banking segment is expected to account for a major market size during the forecast period

Based on banking modes, the web banking phase is expected to account for a chief marketplace length for the duration of the forecast period. The on line banking systems facilitates banks to provide banking offerings to cease-customers over the internet. The on-line banking requires high level of process automation, internet-based offerings, and Application Programming Interfaces (APIs), and facilitates real-time integration with a bank’s more than one host structures.

Based on deployment types, the cloud segment is expected to grow at a higher CAGR during forecast period

Based on deployment types, the cloud section is anticipated to develop at a better CAGR for the duration of the forecast length. The cloud deployment kind has grown to be a price-effective and efficient way to address all operational procedures of insurers, alongside statistics management and governance troubles. Cloud-based Digital banking platform equipment provide several blessings, which include the rapid implementation of tools, decreased installation and operational charges, less renovation costs, 24/7 information accessibility, safety, and simplicity of use.

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The Asia Pacific (APAC) digital banking platforms market is projected to grow at the highest CAGR during the forecast period

The digital banking platforms market within the APAC vicinity is projected to develop at the very best CAGR at some stage in the forecast length. This increase may be attributed to the elevated adoption of digital technologies, especially in rising economies, along with Singapore, Australia, India, China, and Japan. This has made APAC a beneficial marketplace within the IT enterprise. Strong banking capabilities, including virtual services, strong financial positions, and virtual systems are expected to pressure the growth of the virtual banking structures marketplace inside the APAC region. Companies in APAC would benefit from the bendy monetary situations, industrialization, globalization-encouraged guidelines of the authorities, and the increasing digitalization in the place.

Key players operating in the digital banking platforms market include Appway (Switzerland), Backbase (Netherlands), CREALOGIX (Switzerland), ebanklT (England), EdgeVerve (India), Intellect Design Arena (India), Finastra (UK), ieDigital (England), ETRONIKA (Lithuania), Fidor (Germany), Fiserv (US), Halcom (Slovenia), NETinfo (Cyprus), Kony (US), NF Innova (Austria), Oracle (US), SAB (France), SAP (Germany), Sopra (France), Tagit (Singapore), TCS (India), Technisys (US), Temenos (Switzerland), BNY Mellon (US), and Worldline (France).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC. 
630 Dundee Road 
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Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com
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According to market research report “Information Security Consulting Market by Security Type (Network Security, Application Security, Database Security, and Endpoint Security), Organization Size (SMES and Large Enterprises), Vertical, and Region – Global Forecast to 2021″, The information security consulting market is estimated to grow from USD 16.12 Billion in 2016 to USD 26.15 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.2%.

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The major forces driving the information security consulting market are rising network complexities due to mergers and acquisitions and third-party application deployment. The information security consulting market is growing rapidly because of the growing security needs of Internet of Things (IoT), Bring Your Own Device (BYOD) trends, and increased deployment of web & cloud-based business applications.

North America is expected to dominate the information security consulting market in 2016

North America is expected to hold the largest share of the information security consulting market in 2016, due to the technological advancements and early adoption of cyber security in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India and China.

Aerospace & defense vertical to have the largest market size in 2016

The information security consulting market is also segmented by various industry verticals, out of which, the adoption of security consulting services is expected to be the highest in the aerospace and defense vertical, as the critical data and applications used by this vertical are prone to advanced threats. Moreover, government & public utilities, Banking, Financial Services & Insurance (BFSI), and Information Technology (IT) & telecom verticals are expected to gain traction during the forecast period

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Application security to grow at the highest CAGR from 2016 to 2021

Cyber security solutions are used to secure the network infrastructure and the devices connected through it. The emerging IoT, BYOD trends, and connected number of devices & applications are susceptible to Advanced Persistent Threats (APTs). Application security is expected to witness the highest CAGR in the global information security consulting market during the period of 2016–2021. North America is expected to account for the largest market share in 2016, due to the greater awareness of cyber security and early adoption of security consulting services in this region.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, business expansions, and product developments, adopted by major players to increase their market share. Some of the major technology vendors include Ernst & Young (U.K.), IBM Corporation (U.S.), Accenture plc (Ireland), Atos SE (France), Deloitte (U.K.), KPMG (U.K.), PwC (U.K.), BAE Systems plc (U.K.), Hewlett Packard Enterprise (U.S.), and Wipro Limited (India).

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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