Energy & Utilities
Facilities management market to receive substantial gains from outsourced services segment by 2025
Stakeholders envisage facilities management market share to proliferate at a robust pace in the wake of unprecedented surge in smart city projects. Smart cities—integrated, powered and enabled by digital technologies—have propelled commercial spaces, transportation sector, namely. In recent years, awareness of facilities management has heightened owing to expanding tourism and hospitality industries.
Palpable surge in investments in construction and real estate is expected to underscore robust-looking facilities management market size. For instance, the Canadian government issued an additional funding of US$ 81.2 bn in 2017 across five main funding streams, including green infrastructure; public transit; social infrastructure; trade & transportation projects and meeting the ‘unique’ needs of rural and northern communities. Apparently, the unique needs include facilities to underpin food security, improved broadband connectivity and local access roads.
The Investing in Canada plan propounded in Budget 2016 and expanded on in Budget 2017, aims to build advanced economic cities. With burgeoning construction projects, demand for various services, including maintenance, construction, electric, operation and mechanical work has soared in recent times.
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Facilities management market size is projected to surpass US$ 2 trillion by 2025, according to the latest research report by Global Market Insights, Inc.
Despite companies in the late 2000s focused on insourcing, of late there has been notable surge in outsourcing consumption. Companies tend to streamline their operations by embracing outsourcing that reduces business risks, expands profitability, grows competitiveness, enhances productivity and lets companies focus on their major business and competitive advantage.
As such, the outsourced services segment is slated to expand profoundly during the forecast period. That said, seemingly tepid adoption of outsourced FM services may dent the growth of the industry. Meanwhile, given that outsourcing apparently enhances operational efficiency, the outsourced services will underscore facilities management market size.
Popularity of smart homes and offices, including HVAC systems, fire safety systems, elevators, mechanical equipment has augured well for hard services segment that is set to hold significant share during the forecast period. As such, potential dominance of hard service segment is slated to bolster facilities management market share by 2025.
North America facilities management market is anticipated to expand robustly against the backdrop of proliferating tourism industry. With huge revenue at stake, governments globally are vying to woo would-be travelers to their countries led by aggressive marketing and favorable policies.
According to International Trade Administration (ITA), the U.S. travel and tourism industry garnered an economic output of over US$ 1.6 trillion in 2017. The dramatic upsurge witnessed in the number of tourists has been instrumental in rendering facilities management services across shopping malls, airports, amusement parks, and large food centers.
Leading companies are grappling to secure a government deal for FM services to augment their profitability and expand facilities management market size. In Q1 2019, Madrid City Government inked a four-year contract worth 18.62 mn with the facility management company ACCIONA. Reportedly, the Madrid City picked ACCIONA to enhance energy efficiency in 400 municipal buildings, including sports centers, schools, social and cultural centers, among others.
Author Name : Sunil Jha
Top three trends driving threat intelligence market: escalating demand for mobile-based solutions to augment the industry landscape by 2025
The exponential growth graph depicted by the global threat intelligence market in the recent years can undoubtedly be credited to the massive surge in the number of connected endpoints. Presently, there are more than 3 billion end-users across the world that are connected to the Internet, while connected-devices are anticipated to surpass the 50 billion mark by year 2020. Having understood the dependency of these endpoints on the Internet to be able to interact with each other, cybercriminals have been exploiting the reliance to obtain an unauthorized access to the connected endpoint devices to undertake numerous malicious activities.
U.S. Threat Intelligence Market Revenue, By Component, 2018 & 2025
Threat intelligence market | Impact of rising mobile cyberattacks
The global threat intelligence market is expected to amass substantial returns from mobile-based solutions, due to the exponential rate at which cases of mobile cyberattacks & mobile frauds are growing. According to a 2018 report by ThreatMetrix, the first two quarters of 2018 witnessed the cases of mobile attacks across the globe reach the 150 million mark with attack rates growing 24% year-over-year. While the growing penetration of mobile devices has undoubtedly been a crucial factor in the rise of digital commerce, the trend has also proved to be extremely conducive for numerous malicious entities to carry out fraudulent activities.
Moreover, other growing trends such as Choose Your Own Device (CYOD) & Bring Your Own Device (BYOD) being adopted across a number of enterprises, while facilitating greater convenience, are creating more vulnerabilities in the organization networks. Fueled by these trends the global threat intelligence market share from mobile-based solutions will grow at a CAGR of more than 18% over 2019-2025.
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Threat intelligence market | Impact of the growing healthcare cyberattacks
As the global healthcare sector goes through a digital transformation, wherein it is adopting new technologies to enhance the level of patient care & medical treatments while continuing to facilitate patients with life-critical services, the vulnerabilities that are being created or exposed by this transformation phase are being treated as opportunities by criminal & malicious entities for their own personal gain. According to the Center for Internet Security, these threats range anywhere between malwares, that are designed to compromise the privacy of the patients & the integrity of the systems, to Distributed Denial of Service (DDoS) attacks, that are designed to hamper a facility’s ability of providing proper patient care. While these issues plague other industrial & infrastructural sectors as well, the ramifications of a cyberattack on a healthcare facility go far beyond financial losses & privacy breaches.
According to the Southern Medical Association, as cyberattacks continue to proliferate, the global healthcare industry remains a primary target. In fact, 2017 witnessed the most successful data breaches in history, bringing legal consequences & detrimental financial losses to the victims and costing organizations more than $5 billion in accumulated financial losses & estimated total payouts. As healthcare organizations store a copious amount of information associated with their patients, cyberattacks, aiming to gain access to these data reserves, would be continuing to occur in the sector, generating significant opportunities for the threat intelligence market contenders. Indeed, the global threat intelligence market is projected to witness a CAGR of 13% over 2019-2025 from the healthcare industry.
Threat intelligence market | Impact of increasing cyberattacks on Government Institutions
As with other sectors, the world’s government institutions are also making their transition to the digital world, leaving their conventional pen & paper practices behind for higher operating efficiencies. This trend has provided cyber-criminals an ideal opportunity, wherein they target specific government institutions for their own financial or idealistic gains. One recent instance of this is the cyberattack that targeted the local government of Atlanta, USA. According to the American Bar Association, the entire city of Atlanta was trapped in a hostage situation, wherein the city’s digital infrastructure was taken over by a powerful ransomware.
The criminals disabled internet access, encrypted the files stored on the system and demanded an upfront Bitcoin payment in exchange for the decryption key that restored access to these files. According to federal authorities, the ransomware attack caused losses of more than $30 million and could cost taxpayers & the city more than $17 million to completely recover from the damages caused.
Attributing to these three determinants, it is unmistakably clear, that the global threat intelligence market would be witnessing tremendous growth in the years to come. In fact, according to a report by Global Market Insights, Inc., the overall threat intelligence market size is slated to surpass the $13 billion renumeration mark by 2025.
Author Name : Akshay Kedari
Growing adoption of cloud-based platforms to fuel automated infrastructure management (AIM) solutions market share
Global automated infrastructure management (AIM) solutions market size is expected to gain significant traction in the forthcoming years due to growing dependence on data center solutions for the management and processing of data across various end-use segments. Evolving digitization trends have resulted in increased adoption of cloud-based technologies in data centers. These ensure efficient management of various IT operations.
Cloud infrastructure automation tools offer numerous benefits such as automatic software updates and increased collaborations that help ensure fast and flexible delivery of service. One of major advantage of cloud computing is that it provides high competitiveness to the system, ensuring efficient management of complex and hybrid cloud environments. These tools facilitate delivery of optimized infrastructure solutions by accelerating the organizational process, particularly for mission critical applications.
The use of online data management platforms has risen substantially over the past few years. Data volumes equivalent to several terabytes need to be handled and processed regularly. Consequently, this has created a strong need for reliable software applications to help perform critical operations including seismic interpretation, well-path planning, and unconventional system engineering. Robust demand for high-performance computing, data processing, data transfer and data back-up solutions is driving global AIM solutions market outlook.
On the basis of applications, global AIM solutions industry share is segmented into device discovery, asset management, and incident management. Device discovery solutions are projected to record a healthy 14% CAGR over 2019-2025. These solutions are predominantly used to detect the insertion or removal of patch cables. Device discovery tools play a key role in collecting and storing information regarding cabling connectivity. These tools are responsible for providing information pertaining to connected devices and reporting their statuses in the IT infrastructure.
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Device discovery software further allows to connect the acquired information with other sources via Application Program Interfaces (API). The software enables users to discover network devices within the facility and help track their exact position. All the aforementioned benefits offered by device discovery solutions will lead to increased adoption of the software, opening up promising new opportunities for AIM solution developers worldwide.
Asia Pacific automated infrastructure management solutions industry is poised to amass substantial gains in the years to come. This can be primarily attributed to rising penetration of IT and telco companies across various APAC countries. These companies are rapidly adopting AIM tools for efficient data management and facilitate work operations of their data centers. This has resulted in a tremendous rise in the construction of data center sites across the region, stimulating the demand for cutting-edge AIM hardware and software.
Rapid expansion of the manufacturing sector in major APAC countries such as China, India and Japan has led to a sharp rise in export activities. Subsequently, this is pushing the need for automation of data center facilities. Manual handling and management of data poses several challenges and issues which is promoting the adoption of infrastructure automation tools. In addition, complexity relating to document management of cabling networks is further encouraging data center operators to switch to enhanced solutions, fostering APAC AIM solutions industry forecast.
Author Name : Hrishikesh Kadam
Network automation market to record a staggering CAGR of 22% over 2018-2024, global industry expansion to be characterized by technological advancements and startup acquisitions
Disrupting the conventional ways of building digital infrastructure, the network automation market has emerged as one of the most enterprising niche verticals of the sustainable and smart industry. Prominent tech giants and multinational corporations around the globe have increasingly focused on implementing new methodologies to reduce manual configuration errors which are believed to cause the majority of network outages.
China Network Automation Market Share, By Application, 2017
In this context, network automation has evolved into one of the crucial technologies that have enabled businesses to decrease manual configuration errors and risk through effective compliance reporting, improved network service availability, enhanced performance and staff efficiency, and augmented data security infrastructure. As per reliable estimates, the overall network automation market size had been pegged at an appreciable USD 1.7 billion in the year 2017.
Besides providing a wide range of connectivity applications, the SD-WAN technology has assisted numerous business verticals to reduce complexities in physical network infrastructure. The advent of advanced computing technologies such as machine learning and artificial intelligence has disrupted the digital business models – a factor that can be attributed for large scale adoption of SD-WAN technology in the last few years. In fact, as per a research study compiled by Global Market Insights, Inc., the SD-WAN technology apportioned more than 67% of the total revenue share of network automation market in 2017 and is anticipated to hold a prominent spot in the overall software segment in the upcoming years.
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Concurrently, traditional networks are increasingly being replaced by virtual and cloud-based applications which has fundamentally transformed the growth strategies of major firms partaking in network automation market in the recent times. Numerous startups have been developing automation solutions that can configure manually-managed network devices, improve security capabilities, and supervise service offerings more efficiently. In this context, it would be prudent to mention that prominent tech giants have focused on acquiring these startups as it would assist them in augmenting their resources to deliver next-generation solutions that would serve all size and scale of customer needs. Enlisted below are a few instances that underscore how these acquisitions are shaping the network automation industry trends:
- To strengthen its service management portfolio and optimize its digital assets, IBM acquired the California-based network automation software provider Intelliden in 2017. Reportedly, Intelliden assists telecom firms to manage, configure, and scale their networks and automate an array of other services. Apparently, the technology of Intelliden would be integrated into IBM’s Tivoli Software which is known to enable various businesses to combine service delivery and significantly accelerate the automation of networks.
- With an aim to offer its customers an SD-WAN solution that is easy to deploy across enterprise branch offices and other WAN installations, Cisco has recently acquired an emerging WAN solutions provider Viptela for USD 610 million. Even though Cisco has a robust WAN product portfolio consisting of Intelligent WAN and Meraki SD-WAN, the addition of Viptela’s unique technology would reportedly expand and improve the overall functionality of the company’s WAN solutions in the times to come.
Implementing network automation solutions through cloud-based services has lowered capital expenditure and operational costs, enabling enterprises to scale their technological capabilities at a faster pace. Primarily driven by growing opportunities to offer enterprises with additional services like monitoring, security, and application optimization beyond basic automation tasks, the network automation industry share is anticipated to expand vigorously over the estimated timeframe. With rising investments by major tech firms coupled with innovative products being launched by startups, the network automation market size is forecast to register an excellent y-o-y growth rate of 22% over 2018-2024.
Author Name : Saif Ali Bepari