Financial Services Global Market Report 2023 – By Type (Lending And Payments, Insurance, Reinsurance And Insurance Brokerage, Investments, Foreign Exchange Services), By Size Of Business (Small And Medium Business, Large Business), By End User (Individuals, Corporates, Government, Investment Institution) – Market Size, Trends, And Global Forecast 2023-2032

Blockchain is an immutable shared ledger that records online transactions, tracks assets, and builds trust in a business network. The main types of blockchain technologies are public, private and hybrid. A public blockchain is open to the public and can be joined by anyone without special permission. Blockchain technologies are provided by application providers, middleware providers and infrastructure providers and used in financial services, consumer or industrial electronics, technology, media and telecom, healthcare, transportation and public sector. Blockchain technologies is applied in payments, exchanges, smart contracts, documentation, digital identity, supply chain management, governance, risk, and compliance management. The global blockchain technologies market is segmented - 1) By Type: Public, Private, Hybrid 2) By Provider: Application Providers, Middleware Providers, Infrastructure Providers 3) By End User: Financial Services, Consumer or Industrial Electronics, Technology, Media And Telecom, Healthcare, Transportation, Public Sector, Other End-Users 4) By Application: Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Supply Chain Management, Governance, Risk And Compliance Management, Other Applications (Digital Voting And Content Storage Management) The global blockchain technologies market grew from $8.61 billion in 2022 to $13.41 billion in 2023 at a compound annual growth rate (CAGR) of 55.8%. 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 blockchain technologies market is expected to grow from $71.93 billion in 2027 at a CAGR of 52.2%. The favorable government initiatives towards blockchain is expected to drive the blockchain technologies market. Governments of both advanced and developing economies are focusing on framing policies and frameworks for adopting blockchain. For example, in February 2020, the Australian Government released the National Blockchain Roadmap, which was developed in conjunction with industry and researchers to be a living document, setting out a plan to boost Australia’s rapidly growing blockchain industry to global heights. Similarly, in 2020, the German government adopted a national blockchain strategy to support its commitment to the use of the technology. Germany’s implementation of this blockchain strategy during 2020, in addition to its implementation of the European Union’s 4th Anti-Money Laundering Directive, is expected to have far-reaching consequences for blockchain startups, fintech firms, banks, crypto exchanges and industrial companies. Therefore favorable government initiatives are expected to boost the demand for blockchain technologies in the forecast period. Major players in the blockchain technologies market are IBM, AWS, Microsoft Corporations, Ripple, Circle Internet Financial Limited, R3, Patron, Steem, Chain, Celsius Network, Menlo One, TraDove, Deloitte, Coinbase Inc., BitFury Usa Inc., Cegeka, Infosys, Huawei, BlockCypher, Symbiont, BigchainDB, Applied Blockchain, RecordsKeeper, Blockpoint, Auxesis Group, BTL Group, Blockchain Foundry, AlphaPoint and Factom. Companies across various industries are increasingly investing in blockchain technology due to its high efficiency in data management. The blockchain technology is growing strongly in major sectors such as healthcare, banking and finance, digital assets, and also in several government departments. Thus, companies like VISA, Facebook, Microsoft and Amazon are investing in the technology to integrate blockchain with their daily operations at an early stage. Companies use blockchain technology to create smart contracts, this helps to speed up the payment processes as well as provides support while investing in the stock exchange. In 2021, Associated press announced to make their sports, race call and economic datasets available to leading blockchains through Chain-link. The implementation will enable smart contracts on any blockchain to securely interact with AP’s real-world data. The growth of the blockchain technology market is being restrained due to the security vulnerabilities that companies in this market are facing due to weak systems and human errors. The platforms used to interact with the blockchain technology lacks the necessary security. For example, in 2021, The Cloud Security Alliance (CSA) released the top ten blockchain attacks and vulnerabilities such as exchange hacks, decentralized finance hacks, phishing, rug pull or exit scams and others. Such hacks have caused more than $2.8 billion in losses for day-to-day cryptocurrency users. Blockchain is increasingly being implemented in many back-office processes at industries from traditional banking and insurance, extending its application to even food production and pharmaceutical industries. For instance, in 2020, Farmer Connect and IBM announced the introduction of a new consumer mobile application called “Thank My Farmer”. The new application is a traceability platform powered by IBM Blockchain to help increase traceability, efficiency and fairness in the coffee supply chain. In 2021, Midpoint Holdings Ltd announced the acquisition of blockchain technology company, Blockchain World Ltd for an undisclosed amount. From the transaction, Midpoint aims to augment the consumer-facing platform within the digital assets space. The Asia Pacific was the largest region in the blockchain technologies market in 2022. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain technologies report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the blockchain technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The blockchain market includes revenues earned by entities by offering blockchain technologies. Blockchain is a technology that involves implementing a distributed database accessible to all users over a network. Each user can add a new data record (block), with a timestamp that cannot be altered. Each new block forms a part of the universally acceptable depository. The blockchain technology maintains the authentication of data by restricting changes in the older data blocks while allowing the users to continue adding new data blocks thus, making the manipulation of data such as faking documents or transactions and other information, impossible. The blockchain technology is used to create digital contracts and in domains such as financial, healthcare and insurance. 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 goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The blockchain technologies market research report is one of a series of new reports from The Business Research Company that provides blockchain technologies market statistics, including blockchain technologies industry global market size, regional shares, competitors with a blockchain technologies market share, detailed blockchain technologies market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain technologies industry. This blockchain technologies 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.

Investment banking is the subset of a bank or financial institution that provides financial consultancy services, including underwriting (capital raising) and mergers and acquisitions (M&A) advisory services to governments, corporations, and institutions. The main types of investment banking are mergers and acquisitions advisory, financial sponsor/syndicated loans, equity capital markets underwriting, and debt capital markets underwriting. M&A consultants are concerned with giving advise to buy-side and sell-side businesses on their mergers and acquisitions, but they also carry out market research and assist businesses in raising finance for M&A. It is employed in large enterprises, medium and small enterprises and used by financial services, retail and wholesale, information technology, manufacturing, healthcare, construction, and other end-use industries. The global investment banking market is segmented - 1) By Type: Mergers And Acquisitions Advisory, Financial Sponsor/Syndicated Loans, Equity Capital Markets Underwriting, Debt Capital Markets Underwriting 2) By Enterprise Size: Large Enterprises, Medium and Small Enterprises 3) By End-Use Industry: Financial Services, Retail And Wholesale, Information Technology, Manufacturing, Healthcare, Construction, Other End-Use Industries Subsegments Covered: Mergers Advisory, Acquisitions Advisory, Underwritten Deal, Club Deal, Best-Efforts Syndication Deal The global investment banking market size grew from $153.49 billion in 2022 to $166.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. 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 global investment banking market is expected to grow to $221.78 billion in 2027 at a CAGR of 7.4%. Investment banks across the globe are moving towards businesses requiring less regulatory capital. In this regard, major investment banks from around the world, such as Barclays, Deutsche Bank, and Credit Suisse, have announced their plans to move from traditional underwriting businesses to other activities such as mergers and acquisitions advisory and fundraising. This shift is primarily due to regulatory changes that made some investment banking activities more expensive than others. Although the regulations have restricted the range of some banks, forcing them to specialize, some investment bankers, such as Citibank and JPMorgan, have continued to offer a complete range of investment banking services. Major companies in the investment banking market include Barclays, JP Morgan, Goldman Sachs, Bank of America Merrill Lynch, and Morgan Stanley. Investment banking is focusing on mergers and acquisitions to expand its product offerings and increase its share in the market. Large investment banking firms are acquiring boutique firms (small firms that are specialised in various fields) that cater to specific industries such as technology, health care, the financial sector, the media, and entertainment. The presence of a large number of small firms focusing on niche markets is offering significant opportunities for larger investment banking firms. This is driving the M&A activity in the investment banking industry. North America was the largest region in the investment banking market share in 2022. Asia-Pacific was the second-largest region in the investment banking market. The regions covered in the global investment banking market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the investment banking 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 investment banking market consists of revenues earned by entities by undertaking capital risk in the process of underwriting securities. The market size is the revenues generated from the fees and commissions levied on the services provided. This market excludes companies acting as agents and/or brokers between buyers and sellers of securities and commodities. These establishments primarily underwrite, originate, and/or maintain markets for issue of securities as well as offering other corporate finance 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 investment banking market research report is one of a series of new reports from The Business Research Company that provides investment banking market statistics, including investment banking industry global market size, regional shares, competitors with a investment banking market share, detailed investment banking market segments, market trends and opportunities, and any further data you may need to thrive in the investment banking industry. This investment banking 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.

Management consulting is defined as advising and/or implementing services to organizations' management with the goal of improving the effectiveness of their business strategy, organizational performance, and operational processes. The main types of management consulting are operations advisory, financial advisory, technology advisory, strategy advisory, other consulting services, and HR advisory. HR advisory provides advice on human capital matters and/or offerings revolving around the HR function. The services are used by various industries, including IT services, manufacturing, financial services, mining, oil and gas, construction, and others. The different service providers include large enterprises, as well as small and medium-sized enterprises. The global management consulting services market is segmented - 1) By Type: Operations Advisory, Financial Advisory, Technology Advisory, Strategy Advisory, Other Consulting Services, HR Advisory 2) By End Use Industry: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Other End Use Industries 3) By Service Provider: Large Enterprise, Small and Medium Enterprise The global management consulting services market size grew from $976.34 billion in 2022 to $1,022.24 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. 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, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market size of global management consulting services market is expected to grow from $1,184.03 billion in 2027 at a CAGR of 3.7%. Many clients of the management consulting services market are expanding globally and thus require more sophisticated and internationally-oriented services. Globalization is expected to pave the way for more joint ventures, foreign investments, global expansion, and multi-national companies setting up facilities in high-growth regions. Companies are increasingly forming joint ventures with firms in other countries to test the market. Similarly, some companies are looking to acquire an established company in a new market to minimise the risk. Furthermore, globalisation in the management consulting services industry is gaining momentum due to rapid growth in the internet, automation of consultancy processes, and developments in data security. In response to this, many domestic management consultancies have entered into new markets, collaborating with foreign groups to offer services in a wider range of countries. Major companies in the management consulting market include Accenture, Deloitte Touche Tohmatsu Limited, Total SA, PwC, Ernst & Young, KPMG, Aon P.L.C, Aon Hewitt, McKinsey & Company, and Boston Consulting Group Inc. The outbreak of COVID-19 disease (COVID-19) has acted as a restraint on the management consulting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province, of the People’s Republic of China and has 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 has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the management consulting services market will recover from the shock over 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. Artificial intelligence (AI) and automation are revolutionising the way management consultants explore data. AI and automation help management consultants handle such processes as processing and analysing massive amounts of data more efficiently and faster than an average human. It can also provide accurate insights in the areas of businesses such as sales, operations, supply chain, and more. For example, JLL, an American professional services and investment management company specialising in real estate, leverages an AI analysis system to drastically streamline workloads. The real estate consultancy advises on client portfolios that can be made up of anything between 1 and 100,000 properties, which traditionally took professionals weeks to analyze. In the consulting area, the information gathered through AI on sales channels, customer journeys, and client behaviour can help consultants identify new opportunities and develop effective strategies for advertising campaigns. According to Euan Cameron, PwC’s UK AI Leader, AI could add huge value to the management consulting sector, which traditionally was conservative and human-driven. Western Europe was the largest region in the management consulting services market share in 2022. North America was the second largest region in the management consulting services market. The regions covered in the global management consulting services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the management consulting 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 management consulting (MCS) market consists of revenue earned by that provide a range of services providing advice and assistance on organizational planning, financial budgeting, marketing strategies, human resource practices, administration policies and production and logistics scheduling. Such services include solutions for administrative management issues, strategic and organizational planning, business process improvement, human resource and personnel policies, developing marketing planning and strategy, productivity improvement, quality assurance and quality control. Management consulting providers undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. 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 management consulting services market research report is one of a series of new reports from The Business Research Company that provides management consulting services market statistics, including management consulting services industry global market size, regional shares, competitors with a management consulting services market share, detailed management consulting services market segments, market trends and opportunities, and any further data you may need to thrive in the management consulting services industry. This management consulting services 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.

Wireless Internet service refers to the internet service that provides connectivity through wireless means. It provides Internet connectivity services to end-users and organizations over wireless communication networks. The main types of wireless internet services are community hotspots and public hotspots. Community hotspots are open access networks that provide internet access to citizens in public places such as downtown. The services are applied for education, financial services, healthcare, hospitality, retail, telecom and IT, transportation, others by enterprises, communication service provider and network operators, government institutions. The global wireless internet services market is segmented - 1) By Type: Community Hotspots, Public Hotspots 2) By Application: Education, Financial Services, Healthcare, Hospitality, Retail, Telecom & IT, Transportation, Other Applications 3) By End User: Enterprises, Communication Service Provider And Network Operators, Government The global wireless internet services market size will grow from $654.86 billion in 2022 to $704.47 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. 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 global wireless internet services market size is expected to grow to $921.97 billion in 2027 at a CAGR of 7.0%. The government initiatives aiming at developing infrastructure is a key factor driving the growth of the wireless internet services market. With growing government initiatives and environmental campaigns taking center stage, technology providers and specialists have actively started simulating creative solutions based on technical modules for the design and growth of urban infrastructure in several regions. For instance, in India, the successful execution of smart city projects is heavily dependent on technologies such as data connectivity, cloud, mobility, and sensors, all shaping IoT together. According to the Ministry of Electronics and IT, the government has increased the outlay for the digital India program by 23% to 3,958 crores for 2020-21 compared to actual allocation in the current fiscal. The increase has been mainly on account of incentives to be given for electronic manufacturing, research, and development, development of manpower for the segment, cybersecurity, and promotion of IT and IT-enabled services. Therefore, government initiatives for smart city projects is expected to drive the wireless internet services market growth. Major players in the wireless internet services market are Cisco Systems, Inc., Huawei Technologies Co. Ltd., ARRIS International, Aerohive Networks, Singtel, Rogers Communications, Telstra Corporation, Viasat, ADTRAN, Aruba, Extreme Networks, Fujitsu, Superloop, iPass, Arista Networks, Ubiquiti Networks, Fortinet, Riverbed Technology, 4ipnet, Edgecore Networks, Mist Systems, ALE International, Allied Telesis, LANCOM Systems, D-Link Corporation, Cigniti, Cognizant, Capgemini, Cavisson Systems, Tricentis and Boingo Wireless, Inc. The security and privacy concerns are hampering the growth of the wireless internet services market. With an increase in the number of devices, many security and privacy concerns have emerged and every source, gateway, sensor, and smartphone has become a potential hacking target. Any disruption to business processes can have a huge effect on the company as a whole. Connecting to free public Wi-Fi raises business risks caused by third-party interception of client data because hackers are able to position themselves between the employees who use the Wi-Fi and the point of contact. Hackers can also use an unsecured Wi-Fi connection to spread malware, getting compromised apps on the computers and devices will make the company financially disruptive. Therefore, security and privacy concerns are expected to hinder the wireless internet services market growth. The companies in the wireless internet services market are increasingly implementing Li-Fi (Light Fidelity) technology to improve their service offerings. Li-Fi or light fidelity uses light signals to transfer data between devices and produces a greater range than Wi-Fi, with transmission speeds of up to 224 gigabits per second. Smart homes will rely on Li-Fi technology in the future because it is faster and more reliable as light cannot penetrate through walls, and the signal cannot be compromised from a remote location. For instance, in October 2020, GETAC, a Taiwan-based technology company, announced that it is introducing integrated LiFi technology run by pureLiFi to the tough market. Customers from a wide range of professional sectors will soon be able to benefit from entirely robust durability and cutting-edge LiFi connectivity in a single device thanks to pureLiFi, opening up a plethora of potent new applications and use cases. In October 2020, NWIC Inc., a Canada-based internet service provider acquired Last Mile Wireless Internet Inc. (LMWI) for an undisclosed amount. With the acquisition, NWIC is expected to become the Niagara Region's largest rural internet service provider, with expanded coverage and complementary technologies. Last Mile Wireless Internet Inc. (LMWI) is a Canada-based internet service provider. The Asia-Pacific was the largest region in the wireless internet services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global wireless internet services market report during the forecast period. The regions covered in the global wireless internet services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the wireless internet services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The wireless internet services market includes revenues earned by entities by providing wireless internet services that can be used to offer internet access services over a wireless communication network to consumers and businesses. 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 wireless internet services market research report is one of a series of new reports from The Business Research Company that provides wireless internet services market statistics, including wireless internet services industry global market size, regional shares, competitors with a wireless internet services market share, detailed wireless internet services market segments, market trends and opportunities, and any further data you may need to thrive in the wireless internet services industry. This wireless internet 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.

Digital payments are a payment mode that uses digital medium such as the internet, cell phones and automated devices to send and receive money. It needs both payer and payee to use the digital means to send and receive money, it is not mandatory in some situations for the payee to use a digital medium to receive money. The main types of digital payments market are point of sale and online sales. Online sales refer to the sales of products and payments made online. The various deployments are cloud-based and on-premise. The services are used in retail, banking and financial services, telecommunications, government, transportation, and other digital payments. The global digital payments market is segmented - 1) By Mode Of Payment: Point Of Sale, Online Sale 2) By End-User Industry: Retail, Banking And Financial Service, Telecommunication, Government, Transportation, Other End Use Industries 3) By Deployment: Cloud, On-Premise 4) By Enterprise: Large Enterprises, Small And Medium Enterprises The global digital payments market size will grow from $96.19 billion in 2022 to $111.11 billion in 2023 at a compound annual growth rate (CAGR) of 15.5%. 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 global digital payments is expected to grow to $197.87 billion in 2027 at a CAGR of 15.5%. Quick onboarding and ease of use are expected to drive the digital payments market. Individuals require flexibility, transparency, and friction-free onboarding. They are more attracted to such methods which are frictionless, and as a result, software innovators such as Square and PayPal are using automation to decrease the onboarding time to a few minutes. Digital payments are very easy to use compared to conventional methods as they only require a bank account or phone number and a smartphone with an internet facility. For instance, according to new data compiled by Taiwan's government, out of a population of about 23 million, nearly 10 million are mobile payment users. The ease of adoption increases the number of users, thereby contributing to the growth of the digital payments market. Major players in the digital payments market are Alipay, Amazon Pay, Apple Pay, Tencent, Google Pay, First Data, Paypal, Fiserv, Visa Inc., and MasterCard. A breach in security is expected to hinder the digital payments market globally. The increase in the digitalization of payments has led to security breaches, incurring losses to merchants and customers as well. According to the 2022 AFP® Payments Fraud and Control Survey, 71% of the respondent organizations were victims of payment fraud or attempt. The threat of security thereby hinders the digital payment market. Contactless payment technology is soaring in the digital payments market. Many users are increasingly opting for contactless payment technologies such as mobile wallets, contactless cards, and others as they are more secure and convenient to use. Contactless payment technology uses radio frequency identification (RFID) or near-field communication (NFC) for the transmission of amounts among users. Mobile payments transaction volume reached $1.7 billion in 2021 whicvh was a 27% increase as compared to 2020. In August 2022, Razorpay, a Bengaluru-based fintech startup, acquired 80% of Ezetap for an undisclosed amount. The acquisition would strengthen the digital payments infrastructure of Razorpay and help it better serve its customers. Ezetap is a Bengaluru-based digital payments startup. Asia-Pacific was the largest region in the digital payments market in 2022. Western Europe was the second largest region in the digital payments market report. The regions covered in the digital payments analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the digital payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The digital payments market consists of revenues earned by entities that are engaged in facilitating payment transfers through digital medium such as the internet, cell phones and automated devices. The payments industry consists of establishments primarily engaged in processing money transfers and payments between various accounts. This includes all institutions involved in payment processing such as banks, non-banking financial institutions, and others. Revenue generated from the payments market includes all the processing and services fees levied by the banks and financial institutions for payment processing. 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 specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The digital payments market research report is one of a series of new reports from The Business Research Company that provides digital payments market statistics, including digital payments industry global market size, regional shares, competitors with digital payments market share, detailed digital payments market segments, market trends and opportunities, and any further data you may need to thrive in the digital payments industry. The digital payments 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.

Artificial intelligence is a wide-ranging branch of computer science-related with building smart machines that can perform tasks that require human intelligence. The main technology types of artificial intelligence services are machine learning, computer vision, natural language processing (NLP), and others. Machine learning is an artificial intelligence (AI) program that allows systems to automatically learn and improve from experience without being explicitly programmed. The various software tools used include web-based and cloud application programming interface, processing and modeler, archiving, and data storage that are used to provide managed services and professional services. The services are used by different end users such as banking, financial, and insurance (BFSI), IT and telecom, retail, manufacturing, public sector, energy and utility, and healthcare, among others. The global artificial intelligence services market is segmented – 1) By Technology: Machine Learning, Computer Vision, Natural Language Processing (NLP), Other Technology 2) By Services Type: Managed Services, Professional Services 3) By Software Tools: Web-based and Cloud Application Programming Interface, Processing and Modeler, Archiving and Data Storage 4) By Application Type: Fraud Detection, Data Analytics & Visualization, Customer Service and Management, Rsik Management, Compliance & Security 5) By End-User: Banking, Financial, and Insurance (BFSI), IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare, Other End-Users The global artificial intelligence services market size will grow from $12.39 billion in 2022 to $18.34 billion in 2023 at a compound annual growth rate (CAGR) of 48.0%. 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 artificial intelligence services is expected to grow to $55.38 billion in 2027 at a CAGR of 31.8%. The rise in the adoption of cloud-based solutions is a key factor driving the growth of the artificial intelligence services market. Artificial intelligence (AI) as a service lets businesses experiment with AI for different activities without a high initial investment. Experimentation enables many cloud computing platforms to check different machine learning algorithms and helps streamline how data is analyzed and managed. Businesses are deeply interested in cloud-based machine learning, which lets them experiment through their services and help their clients make informed decisions based on the data. For instance, in March 2020, Google announced the beta launch of Cloud AI Platform Pipelines, which provides its customers with repeatable machine learning pipelines that can be installed easily and used for machine learning workflows securely. The integration of AI applications into its cloud draws more customers, thus enhancing market growth over the forecast period. Therefore, the rise in the adoption of cloud-based solutions is expected to drive the growth of the artificial intelligence services market. Major players in the artificial intelligence services market are Intel Corp., International Business Machines Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Amazon.com Inc., Salesforce, Google LLC., Oracle Corporation, Fair Isaac Corporation, Alphabet Inc., Apple Inc., CognitiveScale, Inc., Baidu, Inc., BigML, H2O.ai and Baidu Inc. The risks associated with data breaches and hacks are hampering the growth of the artificial intelligence services market. The World Economic Forum (WEF) has cautioned that new technologies such as the Internet of Things, artificial intelligence, and quantum computing can turn around human lives, but may also make society more vulnerable to cyber-attacks. It was stated that attacks occur on average once every 39 seconds and a single breach could cost as much as $150 million in 2020. Although companies and organizations are aware of these risks, breach activity still takes around six months to detect, and the long delays between original network breach and security responses allow hackers to take advantage of significant quantities of data. According to the State of the breach June 2020, about 16 billion records including credit card numbers, phone numbers, home addresses, and other sensitive information were exposed through data breaches since 2019. Therefore, the risks associated with data breaches and hacking hampers the growth of the artificial intelligence services market. The use of artificial intelligence as a service for human interaction with machines using natural language processing (NLP) is a key trend shaping the artificial intelligence services market. Natural language processing (NLP) is a type of artificial intelligence that explains how human language and computers interact. Machine translation is an enormous technology for NLP that enables us to overcome the challenges to contact people from all over the world and to understand software manuals and catalogs written in a foreign language. For instance, the Livox app, a customizable application in 25 languages helps the disabled to communicate. In January 2021, ServiceNow, a US-based provider of information technology management software for companies, acquired Element AI for $230 million. The acquisition of Element AI would significantly strengthen ServiceNow's commitment to developing the most intelligent workflow platform in the world, allowing staff members to work more quickly and intelligently, simplify business choices, and reach new heights of productivity. Element Ai is a Canada-based artificial intelligence (AI) company. Asia-Pacific was the largest region in the artificial intelligence services market in 2022. North America was the second largest region in the global artificial intelligence services market share. The regions covered in the global artificial intelligence services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the artificial intelligence services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The artificial intelligence services market includes revenues earned by entities by providing AI services that are used in telecommunications, government, retail, defense and healthcare. Companies in the artificial intelligence market provide outsourced services to cater to business requirements. AI as a service enables individuals and businesses to use AI for different purposes, without significant initial investment and with lower risk. 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 artificial intelligence (AI) services market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence (AI) services market statistics, including artificial intelligence (AI) services industry global market size, regional shares, competitors with an artificial intelligence (AI) services market share, detailed artificial intelligence (AI) services market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) services industry. This artificial intelligence (AI) 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.

Digital advertising refers to the services that promote businesses online, such as through search engines, social media, websites, and any other program that can be accessed digitally. Digital advertising helps achieve a variety of business goals across the marketing funnel, ranging from brand awareness to customer engagement, to launching new products and driving repeat sales. The main platforms of digital advertising are mobile advertising (In-app and mobile web), desktop advertising, digital TV, and others. Digital television refers to the transmission of television signals using digital rather than analogue technologies. The various formats of ads include digital display ads (programmatic and non-programmatic transactions), internet paid search, social media, online video, and others and are used by media and entertainment, consumer goods and retail industry, banking, financial services, and insurance, the telecommunications and IT sector, the travel industry, the healthcare sector, manufacturing and supply chain, transportation and logistics, energy, power, and utilities, and others. The global digital advertising market is segmented - 1) By Platform: Mobile Ad (In-App and Mobile Web), Desktop Ad, Digital TV, Other Platforms 2) By Ad Format: Digital Display Ad (Programmatic and Non-programmatic Transactions, Internet Paid Search, Social Media, Online Video, Other Ad Formats 3) By Industrial Vertical: Media and Entertainment, Consumer Goods & Retail Industry, Banking, Financial Service & Insurance, Telecommunication IT Sector, Travel Industry, Healthcare Sector, Manufacturing & Supply Chain, Transportation and Logistics, Energy, Power, and Utilities, Other Industrial Verticals The global digital advertising market size will grow from $178.29 billion in 2022 to $185.17 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. 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 market size of global digital advertising is expected to grow to $209.43 billion in 2027 at a CAGR of 3.1%. The internet user base's expansion coupled with self-service platforms is driving the global digital advertising market. The Internet is extensively used for e-commerce, e-learning, social connectivity, media, communication, and file transfers. According to Internet World Stats, as of June 2020, the number of internet users in the world is 4.8 billion, which accounts for more than 60% of the global population. In addition to this, the growing popularity of self-service advertising platforms is also the main contributor to the digital advertising market. Self-service advertising platforms are providing advertisers more convenience in the placement of their advertisements. The ease of being able to set up and administer their campaigns without the inconvenience of dealing with human intermediaries draws advertisers’ attention towards digital marketing. Therefore, an increase in the internet user base along with self-service platforms is driving the market. Major players in the digital advertising market are Google Ads, Facebook, Alibaba, Amazon, Baidu, Tencent, Microsoft, Verizon, Twitter, and Sina. The growing use of ad blockers is expected to hinder the global digital advertising market. Most internet users do not prefer ads as they are not interested in the ad content and block these ads. For instance, according to a 2020 Edelman study, seven out of ten consumers avoid ads by changing their media habits (49%) and using ad blockers (48%). In fact, according to Blockthrough’s March 2021 survey, about 40% of US internet users use ad blocker on any device. This is becoming a constraint for advertisers in reaching their audience and promoting their business. Therefore, the rise in the use of ad blockers is expected to limit the market's growth. Technological advancements such as AR (augmented reality) are a major trend gaining popularity in the global digital advertising market. These days, advertisers have adopted augmented reality in their advertising strategies to enhance the user experience. For instance, in 2021, Snapchat, a pioneer in AR ads, launched a studio to assist clients in developing augmented reality advertising and experiences, as part of an effort to popularise the use of technology that can overlay computer-generated pictures over a person's perspective of the current world. AR ads are more than informative as people will have the ability to interact with the content rather than just viewing it. In November 2021, Entravision, an US-based media, marketing, and technology company acquired 365 Digital for an un-disclosed amount. Through this acquisition, Entravision would expand and strengthen its digital services into new emerging markets such as Africa. 365 Digital is a digital advertising solutions company based in South Africa that specialises in ad serving technology and solutions. North America was the largest region in the digital advertising market in 2022. Asia-Pacific was the second largest region in the digital advertising market report. The regions covered in the digital advertising analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the digital advertising market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The digital advertising market consists of revenue earned by entities by providing services such as planning, developing, creating, and managing advertisement and promotional activities in digital media. 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 specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The digital advertising market research report is one of a series of new reports from The Business Research Company that provides digital advertising market statistics, including digital advertising industry global market size, regional shares, competitors with a digital advertising market share, detailed digital advertising market segments, market trends and opportunities, and any further data you may need to thrive in the digital advertising industry. This digital advertising 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.

A digital signature is an electronic signature and is equivalent to a handwritten signature or stamped seal. It offers more inherent security and is expected to solve the problems of tampering and impersonation. The main offerings of digital signature are software, hardware and services. Digital signature software is used by businesses to help them securely sign, send, and manage documents in order to facilitate the digital document signing process. The various deployment mode includes cloud and on-premises that are used by banking, financial services, and insurance (BFSI), IT and telecommunications, government, health care and life sciences, education, retail, real estate and other end users. The global digital signature market is segmented - 1) By Offering: Software, Hardware, Services 2) By Deployment: Cloud, On-premises 3) By End User: Banking, Financial services, and Insurance (BFSI), IT and Telecommunications, Government, Health care and life sciences, Education, Retail, Real Estate, Other End-Users The global digital signature market size will grow from $5.1 billion in 2022 to $6.78 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. 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 of global digital signature is expected to grow to $21.08 billion in 2027 at a CAGR of 32.8%. Supporting policies by the governments of various nations drove the digital signature market. For instance, the US government has passed an act called the 21st Century Integrated Digital Experience Act (also known as 21st Century IDEA Act). The 21st Century IDEA Act created a set of minimum functionalities and security standards that federal agencies must meet. According to this Act, the agencies must offer digital versions of paper-based citizen services and accept digital signatures, thereby, allowing citizens to complete transactions digitally. Such policies by the government of various nations have boosted the demand for the digital signature market. Major players in the digital signature market are Adobe systems, DocuSign Inc., Ascertia, Identrust, SIGNiX, Gemalto, Entrust Datacard Corporation, Kofax Limited (a Lexmark Company), Rpost Technologies, Secured Signing Limited, OneSpan, Hellosign, Globalsign, MultiCert, RightSignature, Zoho Corp., Esignlive By VasCo., Arthur D. Little, Shachihata Inc., Glykka LLC., eSign Genie, SignaShare, KeepSolid Inc., GetAccept Inc., Symtrax Holdings Inc., Microsoft Corporation, International Business solutions LLC., Korea SYSTEM’s TECH Inc., Kotrade Inc. and Oracle Corporation. The lack of awareness about the legality of the digital signature is a major challenge for the digital signature market. Several countries have formulated laws assigning legal validity to digital signatures to ensure authenticity and security. For instance, ESIGN Act (Electronic Signature in Global and National Commerce Act), GPEA (Government Paperwork Elimination Act), EU law (EU Directive for Electronic Signatures), and Indian IT Act 2000, among others. However, the public across various countries are unaware of the existence of the digital signature law. This is mainly because of the lack of proper communication on the adoption of laws and regulations. Due to the complexity of regulations and the difficulty of understanding laws, the public seems to be unaware of the details. Therefore, the lack of awareness about the legality of a digital signature is limiting the adoption of digital signatures thereby impacting the market growth. The digital signature solutions providing companies are integrating blockchain technology with the digital signature. The goal of integrating blockchain with a digital signature is to offer users the possibility to certify integrity and time stamp. For instance, DocuSign collaborated with Visa for the public prototypes of a blockchain-based smart contract. A blockchain-based smart contract turns the contract into a computer program and the internet-connected program monitors and triggers the relevant actions on the contract's terms. In May 2020, Visma, a Norway-based software consulting and developing company, acquired the digital signature and document management provider Zetech for an undisclosed amount. The acquisition is expected to add nearly 1,000 new customers and a million users across five countries and strengthen Visma's ability to provide resilient cloud solutions to Latin America. Asia-Pacific was the largest region in the digital signature market in 2022. Asia-Pacific is expected to be the fastest-growing region in the digital signature market report during the forecast period. The regions covered in the digital signature analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the digital signature market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The digital signature market includes revenues earned by entities by providing digital signature solutions. The digital signature solutions include software and hardware solutions, and related 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 digital signature market research report is one of a series of new reports from The Business Research Company that provides digital signature market statistics, including digital signature industry global market size, regional shares, competitors with a digital signature market share, detailed digital signature market segments, market trends and opportunities, and any further data you may need to thrive in the digital signature industry. This digital signature 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.