Contactless Biometrics Global Market Report 2023 – By Component (Hardware, Software, Services), By Technology (Contactless Fingerprint Technology, Facial Recognition, Iris Recognition, Palm Vein Recognition, Voice Recognition, Contactless Cards), By Application (Face, Fingerprint, Hand Geometry, Iris, Voice, Other Apllications), By End User (Government, BFSI, Consumer electronics, Healthcare, Transport And logistics, Defense And Security, Other End Users) – Market Size, Trends, And Global Forecast 2023-2032

Biometrics refers to biological instruments used to identify individuals based on various parameters such as fingerprints, facial recognition, and other attributes that are mainly used for identification and access control and for identifying those who are being monitored based on physical or behavioural characteristics. The main types of biometrics include IRIS recognition, hand geometry, facial recognition, signature verification, fingerprint, voice recognition, and palm vein. IRIS recognition devices refer to devices that capture unique patterns in the coloured circle of the eye to verify and authenticate identity. Biometrics including contact, non-contact and combined devices are used by the government, the military, banking, finance, consumer electronics, healthcare, commercial safety & security, and logistics. The global biometrics market is segmented – 1) By Biometric Type: IRIS Recognition, Hand Geometry, Facial Recognition, Signature Verification, Fingerprint, Voice Recognition, Palm Vein 2) By Functionality: Contact, Non-contact, Combined 3) By End-User: Government, Defense Services, Banking and Finance, Consumer Electronics, Healthcare, Commercial Safety and Security, Transport/Visa/Logistics, Other End Users The global biometrics market size will grow from $32.96 billion in 2022 to $39.37 billion in 2023 at a compound annual growth rate (CAGR) of 19.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the biometrics is expected to grow to $73.5 billion in 2027 at a CAGR of 16.9%. The increasing use of biometric technology in consumer electronics for authentication and identification applications is driving the biometrics market. Biometric sensors are becoming a more common security feature in smartphones and other gadgets, and the low cost of biometric technology allows manufacturers to incorporate them into a larger range of goods. Consumer electronic devices such as access door locks, security devices, home automation, IoT, cars, game consoles, and mobile devices are increasingly utilizing biometric technology to enhance the security of the devices. Fingerprint, face, and voice recognition are becoming more popular methods of authenticating an individual for access and payments. They are faster, simpler, and more secure than standard credentials or PINs, which are difficult to recall and easy to steal. According to a survey conducted by Visa in May 2022, 86% of the consumers are interested in using biometrics to authenticate their identity for making payments, 70% of the consumers responded that biometrics are easier to use, and 46% believe they are more secure than passwords or PINs. Therefore, the increasing use of biometric technology in consumer electronics for authentication and identification applications is expected to boost the biometrics market during the forecast period. Major players in the biometrics market are Leidos Holdings Inc., NEC Corporation, Fujitsu Limited, Aware Inc., Nuance Communications Inc., IDEMIA, Cognitec Systems, Assa Abloy, BIO-Key International Inc., Thales Group, Stanley Convergent Security Solutions Inc., M2SYS Technology, ImageWare Systems Inc., Accu-Time Systems, IDTECK, Siemens, RCG Holdings Ltd., Suprema Inc., Daon Inc., DERMALOG Identification Systems, and Accenture. Strategic partnership is a key trend gaining popularity in the biometrics market. The companies operating in the biometrics market are focusing on entering into a strategic partnership with technology to expand their product development activities and business reach. In August 2021, NEXT Biometrics, a Norway-based company that delivers high-security fingerprint sensors to device and product manufacturers, entered into a partnership agreement with Paravision to provide dual authentication techniques to clients who require face and fingerprint biometric solutions. Paravision is a US-based computer vision firm that specializes in face recognition. In March 2022, LexisNexis Risk Solutions, a data and analytics company that serves a variety of sectors with data and technology services, acquired BehavioSec for an undisclosed amount. With this acquisition, LexisNexis will integrate BehavioSec's solutions into the risk solution business services, enhancing the company's device and digital identity-focused capabilities, such as LexisNexis ThreatMetrix. BehavioSec is a Sweden-based behavioral biometrics company that uses end users' activities with online and mobile apps to provide continuous authentication. North America was the largest region in the biometrics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biometrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the biometrics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The biometrics market consists of the sale of speech recognition, finger vein recognition, ear authentication, and retinal scanning. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The biometrics market research report is one of a series of new reports from The Business Research Company that provides biometrics market statistics, including biometrics industry global market size, regional shares, competitors with a biometrics market share, detailed biometrics market segments, market trends and opportunities, and any further data you may need to thrive in the biometrics industry. This biometrics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A biometric sensor refers to a transducer that turns a biometric trait of an individual into an electrical signal. It tackles a variety of security-related concerns across multiple sectors to identify, verify, and authenticate the identification by using tools such as fingerprints, facial recognition, iris, and voice recognition. The main types of biometric sensors are capacitive sensors, optical sensors, thermal sensors, ultrasound sensors, and electric field sensors. A capacitive sensor is an electronic device that can detect solid or liquid targets without physical contact. The different applications of biometric sensors include voice scans, finger scans, hand scans, facial scans, iris scans, vein scans, and other applications. The end-users for biometric sensors include consumer electronics, commercial centres and buildings, medical research and labs, banks and financial services sectors, defence and security, and other end-users. The global biometric sensor market is segmented - 1) By Type: Capacitive Sensors, Optical Sensors, Thermal Sensors, Ultrasound Sensors, Electric Field Sensors 2) By Application: Voice Scan, Finger Scan, Hand Scan, Facial Scan, Iris Scan, Vein Scan, Other Applications 3) By End-User: Consumers Electronics, Commercial Centers And Buildings, Medical Research And Lab, Bank And Finance Service Sector, Defense and Security, Other End-User The global biometric sensor market size will grow from $2.67 billion in 2022 to $3.09 billion in 2023 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size ofn the biometric sensor is expected to grow to $5.54 billion in 2027 at a CAGR of 15.7%. An increase in the number of identity thefts is expected to propel the growth of the biometric sensor market going forward. Identity theft is the theft of personal information, such as social security numbers, bank account numbers, or credit card numbers. Biometrics meet all of the requirements for authentication, non-repudiation, confidentiality, and integrity, which helps in reducing and eradicating identity theft. For instance, in 2021, according to the Identify Theft Resource Centre, a US-based non-profit organization, the total number of data compromises increased by 68% compared to 2020. Further, according to a report by the Federal Trade Commission (FTC), a US-based consumer protection agency, the number of identity theft cases in the US more than doubled in 2020 from 2019. Therefore, an increase in the number of identity thefts is driving the biometric sensor market growth. Major players in the biometric sensor market are 3M Company, Crossmatch, Fulcrum Biometrics LLC, NEC Corporation, Precise Biometrics AB, IDEX ASA, Suprema Inc., ZKTeco Inc., SAFRAN S.A., SUPREMA, Mantra Softech (India) Pvt. Ltd., SparkFun Electronics, BioEnable Technologies Pvt. Ltd., NEXT Biometrics Group ASA, Synaptics Incorporated, HID Global Corporation, Integrated Biometrics, and NITGEN CO.LTD. Product innovation is a key trend gaining popularity in the biometric sensor market. Companies in the market are focusing on product innovation and enhanced security measures such as biometric-enabled cards for payments. For instance, in July 2021, Thales Group, a French aerospace company operating in the biometric sensor market, launched the Thales EMV contactless biometric payment card. The contactless biometric card simplifies proximity payments while simultaneously ensuring a high level of privacy and security. A simple and secure personal enrollment method is used to load the user's fingerprint data onto the card, which can be done at home or in a bank branch. The company is amongst the first to offer a contactless biometric card that meets all major payment scheme certification requirements. In April 2020, Fujitsu Frontech North America Inc., a US-based leading provider of innovative technology and IT-based business strategies and applications, acquired Fulcrum Biometrics for an undisclosed amount. With this acquisition, Fujitsu Frontech North America, Inc., intends to improve its biometric authentication solutions business both nationally and globally and also expand its geographical footprint. Fulcrum Biometrics is a US-based provider of advanced biometric hardware and software solutions for fingerprint, face, iris, palm print, palm vein, and voice biometrics. North America was the largest region in the biometric sensor market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the biometric sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the biometric sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The biometric sensor market consists of sales of signature verification machine, hand geometry, and speech recognition equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The biometric sensors market research report is one of a series of new reports from The Business Research Company that provides biometric sensors market statistics, including biometric sensors industry global market size, regional shares, competitors with a biometric sensors market share, detailed biometric sensors market segments, market trends and opportunities, and any further data you may need to thrive in the biometric sensors industry. The biometric sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The fingerprint sensor is a type of sensor that is used in a fingerprint detection device to detect fingerprints for biometric authentication to grant the user access to certain information or entry/exit. They are majorly used for their accuracy, better performance, and robustness based on exclusive fingerprint biometric technology. Fingerprint sensors are used in authentication processes. The main types in the fingerprint sensor market are area and touch sensors and swipe sensors. The area and touch sensors capture and record the image of the finger that is placed over the sensor. The different technologies include capacitive, optical, thermal, and ultrasonic and involve various sensor technologies such as 2D and 3D technology. These are used in various applications such as consumer electronics, government and law enforcement, military, defense, and aerospace, travel and immigration, banking and finance, commercial, healthcare, smart homes, and others. The global fingerprint sensor market is segmented - 1) By Type: Area And Touch Sensors, Swipe Sensors 2) By Technology: Capacitive, Optical, Thermal, Ultrasonic 3) By Sensor Technology: 2D, 3D 4) By Application: Consumer Electronics, Government And Law Enforcement, Military, Defense, And Aerospace, Travel And Immigration, Banking And Finance, Commercial, Healthcare, Smart Homes, Other Applications The global fingerprint sensor market size grew from $4.92 billion in 2022 to $5.9 billion in 2023 at a compound annual growth rate (CAGR) of 19.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The fingerprint sensor market size is expected to grow to $11.55 billion in 2027 at a CAGR of 18.3%. The high adoption of biometrics by governments is significantly contributing to the growth of the fingerprint sensor market. In offices, fingerprint sensors are crucial for biometric identification and attendance monitoring. Governments across the world are now adopting fingerprint sensors into their use. For instance, according to the Biometric Update, a US-based online source that provides information about the global biometrics sector, in October 2020, police units in the UK adopted mobile fingerprint scanners to use on the streets. This will help the police to fetch the identity of the suspect within 60 seconds if the fingerprint matches the fingerprints that are already in police databases. The INK Biometrics mobile biometric solution will be used with crossmatch fingerprint sensor device. Therefore, the high adoption of biometrics by governments is expected to propel the growth of the fingerprint sensor market going forward. Major players in the fingerprint sensor market are Cogent Systems Inc., Anviz Global, Apple Inc., Egis Technology Inc., Fingerprint Cards, Shenzhen Goodix Technology Co. Ltd., Idex Biometrics ASA, NEC Corporation, NEXT Biometrics Group ASA, Qualcomm Technologies Inc., Synaptics Incorporated, BIO-key International, Crucialtec, Hid Global Corporation, M2SYS Technology, Novatek Microelectronics and Secugen Corporation. Technological advancement is a key trend gaining popularity in the fingerprint sensor market. Major companies operating in the fingerprint sensor sector are focused on developing new technological solutions to meet consumer demand and strengthen their position. For instance, SecuGen Corporation, a US-based optical fingerprint technology company, launched fingerprint reader Hamster Pro 30 and OEM sensor U30. The FBI has certified SecuGen's new contact fingerprint reader and sensor is used in FIPS 201 PIV and Mobile ID FAP 30 applications. In September 2022, ASSA ABLOY, a Sweden-based provider of safe and secure doorways, acquired Control iD for an undisclosed amount. This acquisition of Control ID will fill multiple gaps of ASSA ABLOY by integrating biometric technologies, especially facial recognition. Control iD is a Brazil-based developer of hardware and software solutions for access control, fingerprint sensor and time and attendance. Asia-Pacific was the largest region in the fingerprint sensor market in 2022. The regions covered in the fingerprint sensor market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the fingerprint sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The fingerprint sensor market consists of sales of optical fingerprint sensors, capacitive fingerprint sensors, thermal fingerprint sensors, and other fingerprint sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The fingerprint sensor market research report is one of a series of new reports from The Business Research Company that provides fingerprint sensor market statistics, including fingerprint sensor industry global market size, regional shares, competitors with a fingerprint sensor market share, detailed fingerprint sensor market segments, market trends and opportunities, and any further data you may need to thrive in the fingerprint sensor industry. This fingerprint sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The digital identity refer to a set of digital qualities and credentials that are validated in the digital realm, analogous to a person's real-world identity. It is used for various purposes such as a unique identity number, social security number, immunization code, name, location, date of birth, citizenship, biometrics, and others. It has a high level of accuracy and compliance, as well as minimal operational costs, a better client experience, and improved security. The main components of digital identity include solutions and services, and they are deployed through on-premises and cloud. The solution market consists of sales of digital identity solutions by entities (organizations, sole traders, and partnerships) that refers to a software or platform designed to generate identities, protect digital data transfers and manage credentials stored in any cryptographic devices while maintaining security, quality, and robustness. They are operated through single-factor and multi-factor authentications, and they are used in wide range of industries ranging from BFSI, retail and ecommerce, government and defence, IT and ITeS, telecommunications, energy and utility, and other verticals. The global digital identity market is segmented - 1) By Component: Solutions, Services 2) By Type: Single-factor Authentication, Multi-factor Authentication 3) By Deployment Type: Cloud, On-Premises 4) By Organization Size: Large Enterprises, SMEs 5) By Vertical: BFSI, Retail and eCommerce, Government and Defense, Healthcare, IT and ITeS, Telecommunications, Energy and Utilities, Other Verticals The global digital identity market size will grow from $23.63 billion in 2022 to $27.19 billion in 2023 at a compound annual growth rate (CAGR) of 15.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the digital identity is expected to grow to $48.51 billion in 2027 at a CAGR of 15.6%. An increase in instances of identity-related fraud and data breaches is contributing to the growth of the digital identity market. Identity fraud is a crime in which someone wrongfully obtains and uses other individuals’ data in some way that involves fraud and deception for economical gain. Industries across the globe are adopting advanced digital identity solutions to effectively mitigate identity-related fraud and thefts. According to a study published by The Consumer Centinal Network, the volume of identity theft or fraud-related complaints across the United States increased by 113% from 2019 to 2020. Thus, the rise in identity-related fraud and data breaches is expected to boost the digital identity market during the forecast period. Major players in the digital identity market are NEC Corporation, Samsung SDS, Thales Group, GBG, Telus, Tessi, IDEMIA, ForgeRock, Jumio, ImageWare Systems, iProov, Daon, ID R&D, Refinitiv, Duo Security, Syntizen Technologies Pvt Ltd., Signicat, Smartmatic, Verisec, Vintegris, and OneSpan. The partnership among the companies is a key trend gaining popularity in the digital identity market. The companies operating in the digital identity market are focusing on partnering with a technology-based player for the development of innovative technologies and enhancement of existing products to increase customer experience and performance. For instance, In April 2022, Blinking, a Serbia-based provider of digital identity and onboarding solutions partnered with IPification, a Hong Kong-based provider of mobile IP address-based authentication, user verification, and fraud prevention services to further improve the capabilities and performance of their platform. in May 2020, Ontology, an operator of high-performance enterprise blockchain and distributed collaboration platform partnered with Sphericity, a Germany-based provider of decentralized digital identity solutions for the development of innovative digital identity solutions. The partnership is focused on delivering enterprise solutions for cross-border supply chain and resilience. In November 2021, GBG a UK-based company pioneered in identity verification, location intelligence, and fraud prevention company has acquired Acuant for an amount of $736 million. The acquisition strengthens GBG as a market leader in the strategically crucial North American market while also speeding up the global rollout of GBG's identification and fraud solutions. Through this acquisition, the combined product portfolio of both companies would establish a digital platform that will support both firms' networks of partners and clients, allowing them to manage billions of global transactions across a variety of industries. Acuant is a US-based company pioneered in identity verification, document authentication, and fraud prevention technology services provider. North America was the largest region in the digital identity market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital identity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the digital identity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The digital identity market includes revenues earned by entities by providing digital identity services such as identification/registration services, digital ID life-cycle management services, identity federation services, strong authentication services, and digital signature services to offer user-centric solutions and streamline citizen on-boarding. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The digital identity market research report is one of a series of new reports from The Business Research Company that provides digital identity market statistics, including digital identity industry global market size, regional shares, competitors with a digital identity market share, detailed digital identity market segments, market trends and opportunities, and any further data you may need to thrive in the digital identity industry. This digital identity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Security as a service refers to a business model in which a service provider provides or integrates security solutions into the company’s infrastructure on a subscription basis. With the utilization of security as a service model, companies benefit from the expertise of a dedicated security team specialized in preventing breaches in cloud computing environments. The main types of security as a service include solutions and services. The solution refers to security solutions offered through the cloud or private network as a service model, which includes business continuity and disaster recovery, encryption, data loss prevention, identity and access management, intrusion management, security information and event management, vulnerability scanning, and others. The main applications of security as a service include network security, endpoint security, application security, and cloud security. They are used in both SME’s and large enterprises ranging from BFSI, telecom and IT, healthcare, retail, manufacturing, and government. The global security as a service market is segmented - 1) By Component: Solution, Service 2) By Application: Network Security, Endpoint Security, Application Security, Cloud Security, Other Applications 3) By Organization Size: SMEs, Large Enterprises 4) By End User: BFSI, Telecom & IT, Healthcare, Retail, Manufacturing, Government, Other End Users The global security as a service market size will grow from $13.59 billion in 2022 to $15.37 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the security as a service is expected to grow to $25.65 billion in 2027 at a CAGR of 13.7%. The increase in adoption of cloud-based services has driven the security as a services market. Cloud-based services are services offered over the Internet or dedicated network with delivery on demand. Due to the COVID-19 pandemic and lockdowns, small and medium-scale Enterprises are increasingly focusing on streamlining their business models by adopting cloud services, which are highly prone to cyber-attackers. Thus, companies are increasingly investing in cloud-based security services to tackle cyber-attacks and protect sensitive and confidential information. According to the report of Ziff Davis, a New York-based digital media and internet company, approximately 40% of the global workforce adopted cloud-based services in 2020 and is expected to reach 80% by 2025, exceeding 100 Zettabytes of data in cloud data centres. Furthermore, according to the Findstack report, 92% of an organization’s IT environment is likely to be in the cloud by 2022. Hence, the rising adoption of cloud-based services is expected to boost security as a service market during the forecast period. Major players in the security as a service market are Trend Micro Incorporated, IBM Corporation, Microsoft Corporation, Zscaler Inc., Cisco Systems Inc., Fortinet, Norton LifeLock, Mindsight, Sentinel Technologies, Happiest Minds, Okta, Proofpoint, Stratejm, HackerOne, Forcepoint, Sophos, Clearswift, Alert Logic, Cygilant, Barracuda Networks, and Barracuda Networks. Strategic partnership and collaboration is an emerging trend gaining popularity in security as a services market. The companies operating in the security as a service sector are entering into collaboration and partnership for the smooth development of the technologically-advanced solutions and to deliver the most trusted and innovative solutions to public sector organizations and companies across the globe. For instance, in May 2020, McAfee Corp., an American global computer security software company announced a collaboration with Atlassian Corporation PLC. to bring advanced data security and threat protection to enable the customers who accelerate their move to the cloud. Furthermore, in July 2020, Thales Group announced a collaboration with Google Cloud to co-develop a sovereign hyper-scale cloud offering for France. In February 2022, Inspira Enterprise India Limited (Inspira), an India-based company engaged in providing cyber-security services, acquired Al Gebra Security & Solutions Pvt Ltd., an India-based provider of private identity access and cloud security management solutions for an undisclosed amount. With this acquisition, Inspira will help its customers to create and maintain a more safe and robust security architecture and meet legal obligations, reduce data breaches, and manage user identities to the maximum possible extent. North America was the largest region in the security as a service market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the security as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The security as a service market includes revenues earned by entities by providing services such as threat intelligence and response, cybersecurity expertise, and constant monitoring for threats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The security as a service market research report is one of a series of new reports from The Business Research Company that provides security as a service market statistic, including security as a service industry global market size, regional shares, competitors with a security as a service market share, detailed security as a service market segments, market trends and opportunities, and any further data you may need to thrive in the security as a service industry. This security as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Security and vulnerability management refers to the ongoing, regular process of various processes, tools, and strategies for identifying, evaluating, treating, and reporting security vulnerabilities and misconfigurations within an organization's software and systems. The implementation of security and vulnerability management alongside with other security tactics is vital for organizations to prioritize possible threats and minimize their attack surface. The main components of security and vulnerability management are software and services. Services involving security and vulnerability management are used to identify, prioritize, and evaluate vulnerabilities and help organizations with effective vulnerability management. The various organization sizes include small and medium scale and large scale and involve various targets such as content management system vulnerabilities, API vulnerabilities, internet of things (IoT) vulnerabilities, and others. These are used in several applications, including banking, financial services and insurance (BFSI), government and defence, healthcare, IT and telecom, retail, and others. The global security and vulnerability management market is segmented - 1) By Component: Software, Services 2) By Organization Size: Small and Medium Scale, Large Scale 3) By Target: Content Management System Vulnerabilities, API Vulnerabilities, Internet of Things (IoT) Vulnerabilities, Other Targets 4) By Application: Banking, Financial Services And Insurance (BFSI), Government and Defense, Healthcare, IT and Telecom, Retail, Other Applications The global security and vulnerability management market size will grow from $13.4 billion in 2022 to $14.48 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global security and vulnerability management is expected to grow to $19.11 billion in 2027 at a CAGR of 7.2%. The rise in the adoption of security and vulnerability assessment and management tools is expected to drive the growth of the security and vulnerability management market going forward. Security and vulnerability management tools aid in the assessment, identification, and reporting of security flaws. A large number of firms are utilizing security and vulnerability assessment and management technologies to minimize security issues. For example, in October 2021, Synk, a US-based security company operating in security and vulnerability management, broadened its portfolio with Snyk Code, a static application security testing (SAST) tool that already supports Java, JavaScript, and Python, now it includes support for C#, Ruby, PHP, and Go. In the last 12 months, Snyk clients and customers have run more than 300 million tests, fixing more than 30 million vulnerabilities in a 90-day timeframe. Snyk also announced that its annual recurring income (ARR) has climbed by 154 percent year over year, owing to a customer base that currently includes over 1,200 companies such as Asurion, Google, Intuit, MongoDB, New Relic, Revolut, and Salesforce. Therefore, the rise in the adoption of security and vulnerability assessment and management tools is driving the security and vulnerability management market. Major players in the security and vulnerability management market are IBM, McAfee, Broadcom Inc., Qualys Inc., Dell, Acunetix, AT&T, Balbix, Breachlock Inc., Brinqa, Claroty, Digital Defense Inc., F-Secure Corporation, Holm Security, Rapid7, Positive Technologies, RiskIQ, and NetIQ Corporation. Technological advancements have emerged as a key trend gaining popularity in the security and vulnerability market. Major companies operating in the security and vulnerability management sector are focused on developing innovative products and applications to strengthen their position. For Example, in May 2022, New Relic, a US-based observability company, launched New Relic Vulnerability Management. It will enable organizations to identify and address security risks more quickly and precisely. In order to manage security and risk comprehensively, every member of the software team, including security engineers, can use New Relic as the default platform to aggregate native and third-party security signals across the entire software stack. Using mappings and correlations, engineers can monitor, debug, and secure the entire software stack more effectively and reduce overall risks. In June 2021, Cisco, a US-based company operating in security and vulnerability management, acquired Kenna Security for an undisclosed amount. Through this acquisition, Cisco clients will be able to tackle important security posture concerns by collaborating cross-functionally to swiftly automate cybersecurity threat prediction, prioritization, identification, and remediation. Cisco will be able to lower the attack surface as well as the time it takes to detect and respond to security threats. Kenna Security Inc., is a US-based company that manufactures risk-based vulnerability management software for vulnerability management. North America was the largest region in the security and vulnerability management market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security and vulnerability management market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the security and vulnerability management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The security and vulnerability management market consists of revenues earned by entities that are engaged in providing services such as System Misconfigurations, Out-of-date or Unpatched Software, Missing or Weak Authorization Credentials, Malicious Insider Threats, Missing or Poor Data Encryption, Zero-day Vulnerabilities, Vulnerability Detection, Cyber Security Vulnerability Assessment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The security and vulnerability management market research report is one of a series of new reports from The Business Research Company that provides security and vulnerability management market statistics, including security and vulnerability management industry global market size, regional shares, competitors with a security and vulnerability management market share, detailed security and vulnerability management market segments, security and vulnerability management market trends and opportunities, and any further data you may need to thrive in the security and vulnerability management industry. This security and vulnerability management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Information technology (IT) is the use of computers, storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data. The main type of information technology (IT) are IT services, computer hardware, telecom, and software products. Computer hardware is the physical components that a computer system requires to function and encompasses everything within a PC or laptop. The services are used by large, small, and medium enterprises of financial services, retail and wholesale, manufacturing, healthcare and others. The global information technology (IT) market is segmented - 1) By Type: IT Services, Computer Hardware, Telecom, Software Products 2) By Organization Size: Large Enterprise, Small and Medium Enterprise 3) End User Industry: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Other End User Industries Subsegments Covered: Hardware Support Services, Software And BPO Services, Cloud Services, Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers, Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers, Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & Rendering Software The global information technology (IT) market size grew from $8179.48 billion in 2022 to $8852.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The information technology (IT) market is expected to grow to $11995.97 billion in 2027 at a CAGR of 7.9%. The demand for cloud computing services is expected to drive the demand for IT services during the forecast period. In the cloud computing model, data is stored on the internet by a cloud computing provider, who manages and operates data storage as a service. Many companies are now choosing applications hosted in the cloud for their day-to-day operations. For example, according to statistics provided by hostingtribunal.com, 60% of computing workloads were running in the public cloud in 2019. Similarly, 94% of enterprise workloads are expected to be processed by cloud data centers in 2021. Companies are also opting for cloud-based data storage, thus boosting the demand for IT services. Major companies in the information technology (IT) market include Apple, Microsoft, Verizon Communications, China Mobile, AT&T Inc., Huawei, Deutsche Telekom AG, Dell Technologies Inc., Samsung Electronics Co., Ltd. and Comcast Corporation. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the information technology (IT) market share in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity, with countries entering a state of 'lock down,' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the information technology (IT) market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Over the past five years there has been an increasing prevalence of low cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software publishers would open source software that was not making money, but now companies are open sourcing software to increase their presence and share in the market. Supabase, a YC-incubated startup that offers developers an open-source alternative, announced that it had raised a $6 million in funding to create new open-source tools. Asia-Pacific was the largest region in the information technology (IT) market in 2022. North America was the second largest region of the information technology (IT) market. The regions covered in the information technology (IT) industry analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the information technology (IT) market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The information technology (IT) market consists of revenues earned by entities by providing IT services such as computer networking, broadcasting, systems design services and information distribution technologies like television and telephones and other equipment used during the process. The market value includes the value of related goods sold by the service provider or included within the service offering. The information technology (IT) market also includes sales of computers, computer peripherals and telecommunications equipment which are used in providing IT services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The information technology (IT) market research report is one of a series of new reports from The Business Research Company that provides information technology (IT) market statistics, including information technology (IT) industry global market size, regional shares, competitors with information technology (IT) market share, detailed information technology (IT) market segments, market trends and opportunities, and any further data you may need to thrive in the information technology (IT) industry. This information technology (IT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Managed security services are the services provided by third-party vendors as a proactive security measure, which is simple according to the need and ever-evolving security view of an organization. The main types of managed security services are network security, and terminal security. application security, cloud security. Network security refers to the policies, processes, and practices adopted to prevent, detect and monitor unauthorized access, misuse, modification, or denial of a computer network and network accessibility. The managed security services are deployed through on-premise, cloud. The different organization sizes include large enterprises and small and medium-sized enterprises (SMEs) and are applicable in intrusion detection and prevention, threat prevention, distributed denial of services, firewall management, end-point security, and risk assessment. These are used in BFSI, government and defense, retail, manufacturing, healthcare and life sciences, it and telecom, and other end-users. The global managed security services market is segmented - 1) By Type: Network Security, Terminal Security, Application Security, Cloud Security 2) By Deployment Type: On-Premise, Cloud 3) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs) 4) By Application: Intrusion Detection and Prevention, Threat Prevention, Distributed Denial of Services, Firewall Management, End-Point Security, Risk Assesme 5) By End User: BFSI, Government and Defense, Retail, Manufacturing, Healthcare and Life Sciences, IT and Telecom, Other End Users The global managed security services market size will grow from $26.51 billion in 2022 to $31.39 billion in 2023 at a compound annual growth rate (CAGR) of 18.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the managed security services is expected to grow to $55.52 billion in 2027 at a CAGR of 15.3%. The rising instances of security breaches are expected to propel the growth of managed security services market going forward. Security breach refers to any incident that results in unauthorized access to computer data, applications, networks, or devices. Managed security services monitor and manage security systems and devices, as a result rising instances of security breaches will increase the demand for managed security services market. For instance, in December 2021, according to the Identity Theft Resource Center (ITRC), a US-based non-profit organization, data breaches increased by 17% in 2021, with 12.91 thousand breaches compared to 11.08 thousand in 2020. Therefore, the increase in security breaches helps to increase the market demand for managed security services. Major players in the managed security services market are International Business Machines Corporation, Cisco Systems Inc., Nippon Telegraph and Telephone Corporation, Secureworks Inc., BT Managed Security Solutions, Check Point Software Technologies Ltd., Wipro Limited, Accenture plc, Symantec, DXC Technology Company, Lumen Tech Inc., Nuspire, BAE Systems, Fujitsu, and Intel Corporation. Strategic collaborations have emerged as a key trend gaining popularity in the managed security services market. Major companies operating in the managed security services sector are entering into new collaboration agreements to strengthen their position in the market. For instance, in September 2021 Atos, a France-based information technology service company partnered with Integrity, a US-based company operating in managed security services. This collaboration aids in the creation and development of a bug bounty program, as well as the provision of automatic detection and remediation services to customers. Further, in July 2021 Atos, a France-based information technology service company partnered with Ooredoo, a Qatar-based company operating in managed security services. This collaboration agreement will create important cybersecurity threat detection and response services for the Qatar Smart Program "TASMU," which aims to improve the quality of life for Qatari citizens, residents, and visitors. In September 2021, PwC, a UK-based company that provides professional services acquired Avaleris for an undisclosed amount. Through this acquisition, PwC will strengthen its portfolio of cybersecurity and will build a strong reputation with clients. Avaleris is a Canada-based company that provides managed security services. North America was the largest region in the managed security services market in 2022. The regions covered in the managed security services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the managed security services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The managed security services market includes revenues earned by entities by providing security services such as managing firewalls, monitoring and handling of interference detection systems, intrusion detection, scanning, and anti-virus services, The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The managed security services market research report is one of a series of new reports from The Business Research Company that provides managed security services market statistics, including managed security services industry global market size, regional shares, competitors with a managed security services market share, detailed managed security services market segments, market trends and opportunities, and any further data you may need to thrive in the managed security services industry. This managed security services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.