Transportation & Logistics
APAC cloud POS market to witness double-digit growth rate over 2019-2025
Rising digitalization and use of e-payment platforms are driving cloud POS market growth. Cloud-based POS is an adaptable, easy to implement and cost-effective solution compared to traditional POS systems. It is integrated with features like inventory management, customer relationship management, loyalty programs and more. For small-to-medium sized businesses (SMBs), a cloud POS system can ensure enhanced customer experience whilst coping up with rapidly upgrading technology.
U.S. SMEs cloud POS market, by application, 2018 & 2025 (USD Million)
With cloud POS, SMBs can quickly, safely and securely access information using their mobile device. Using tools like data monitoring, inventory tracking, transaction history and more, cloud-based systems can offer enhanced profitability and become an invaluable resource for SMBs.
Notably, cloud POS can be integrated into existing system, increasing security and visibility of restaurant or retail store information. Additionally, it can easily be upgraded, and can track application growth and essential business needs. Product lines, features or stores can also be added to its software. Aided by such profound features, product demand has increased significantly over recent years, expanding cloud POS market size.
Cloud POS market is gaining massive proceeds from the restaurant and hospitality sector. A restaurant cloud POS system is an integral part of daily operations as it helps conduct tasks like billing, ticketing, tax management, invoicing and more. The system aims on delivering superior customer experience and cost control while further growing store revenues and overall profitability.
It enables restaurants to manage orders, make payment, and conduct promotions, and even supports the latest cashless and e-payment platforms that consumers use. The robust use of the system is rather overt from the extensive growth of restaurant POS terminals market as well. Indeed, with growing technological advancements, cloud POS has become a complete restaurant management system providing features like stock and inventory management, detailed reporting and analytics customer relationship management, marketing and more.
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Growing demand and use of e-payment transactions will augment the cloud POS industry share in the restaurant sector. Furthermore, according to a recent study, the number of credit card payments have reportedly grown by 10.2% in the year 2016 to 37.3 billion with a total value of $3.27 trillion, while digital wallets such as Apple Pay and Android Pay are expected represent $503 billion in transactions by 2020. These instances aptly prove that cloud POS market is here to stay.
APAC cloud POS market is growing robustly on account of rapid digitalization and increased use of cashless payments. India’s foodservice sector in particular, continues to grow rapidly on account of rising number of restaurant dining and foreign tourists. Increasing consumer income has made restaurant dining more accessible. International hotel brands have also been expanding their presence in the continent, that has further fostered the regional cloud POS industry size.
With cloud POS, restaurant outlets can acknowledge orders directly to these aggregators. Moreover, with growing technological advancements, the APAC cloud POS is poised to register increased demand in the forthcoming years. Indeed, it has been speculated that the Asia Pacific region will observe a commendably high adoption of restaurant POS solutions, on account of the increase in the usage of POS systems for food delivery. As per estimates, APAC cloud POS market size will register a CAGR of 27% over 2019-2025.
Cloud POS systems are web-hosted solutions that store information on remote servers which can be accessed online. The system is increasingly used in restaurants and retail stores for recording data, taking orders, making bills, managing inventory and more. Reports from Global Market Insights, Inc. estimate cloud POS market to surpass USD 6 billion by 2025.
Author Name : Mateen Dalal
BFSI applications to drive wireless LAN controller market outlook through 2025
Wireless LAN controller market is estimated to exceed USD 3 billion by 2025, owing to the increasing business need to manage widespread and intricate LAN infrastructure along with the surging acceptance of cloud-based WLAN controllers for managing network devices. Increasing Bring Your Own Device trend, which necessitates the presence of robust network security in enterprises, will drive WLAN controller market growth through 2025. The rising need for integrated connectivity and security for mobile clients also impacts WLAN controller market trends.
APAC Wireless LAN Controller Market Size, By Region, 2018 & 2025 (USD Million)
In terms of the application landscape, wireless LAN controller market is bifurcated into government and public sector, IT and telecom, healthcare, BFSI, manufacturing, transportation & logistics, retail, and others. The retail segment is anticipated to exhibit substantial growth between 2019-2025, primarily fueled by surging acceptance of latest technology by the retail sector to offer better customer experience and convenience. The constant increase in the number of retail companies across the globe will further advance WLAN controller market size. For instance, Aldi, supermarket chain with over 10,000 stores in 20 countries, has recently declared plans to open a new store in Chattanooga city, Tennessee, USA this fall.
WLAN controller market size from the BFSI segment is projected to witness modest growth in the foreseeable future, attributed to high adoption of digital platforms, workforce mobility trend, and increasing network complexity. The growing use of network devices and smartphones has burdened network administrators with complex network management tasks, resulting in the adoption of wireless LAN controllers by banking & financial institutions, for optimizing networks and boosting performance.
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The establishment of new financial institutions and technological enhancements in Wi-Fi technology along with the fast-paced expansion of Wi-Fi market will elevate the revenue share of WLAN controller market from BFSI applications. For instance, HSBC, a renowned multinational banking and financial services company, has recently declared plans to open fifty new retail branches in the United States where it previously had no existence. Reportedly, this move is a part of British banking behemoth’s plan to expand services to newer geographies with no prior foothold.
The rapid upsurge in digital data has led to the introduction of AI in BFSI market, which has positively impacted wireless LAN controller market share. Financial enterprises are leveraging artificial intelligence technology to gather, analyze, and report huge chunks of data to retrieve actionable insights regarding customers to serve their requirements better. Expanding artificial intelligence market size, owing to surging adoption across automotive, manufacturing, retail, healthcare, media & advertising, agriculture, and BFSI, would push network management requirements, thereby propelling WLAN controller market size over the future.
Rising urbanization and commercialization, especially across developing nations, will impact the industry growth. According to a report published by Our World in Data website, approximately 4 billion individuals resided in urban areas, whereas 3.4 billion individuals resided in rural regions, in 2016. Over the last 50 years, the share of people living in urban areas more than quadrupled in Nepal and Mali, and more than tripled in Nigeria and Kenya. By 2050, the global population is projected to reach 9.8 billion, and it is anticipated that the number of people living in the urban area (6.7 billion) will be double of that in the rural area (3.1 billion).
Growing urbanization and commercialization directly influence infrastructure development, healthcare, IT and Telecom, retail, manufacturing, transportation, BFSI, and various other sectors. As these sectors are the leading consumers of wireless technology, they are projected to support WLAN controller market share over the future. Expansion of the enterprise wireless local area network market is also bound to fuel WLAN controller market growth.
The increasing number of efforts by major companies present in wireless LAN controller market, to gain a competitive edge, will substantially fuel market share. Many organizations are taking huge steps towards innovation and new product development, to accelerate the shift towards cloud-enabled network services and ensure enhanced management & security of wireless LAN solutions. Global Market Insights, Inc. claims that large enterprises will accrue over 55% of wireless LAN controller market share through 2025.
Author Name : Nikita Chaurasia
IDS / IPS market to accumulate substantial proceeds from transportation and logistics applications, global industry to be characterized by the launch of advanced threat detection systems
The increasing threat of data breaches and rising proliferation of digitalization have been responsible for driving intrusion detection system market share in the recent years. The last couple of decades have witnessed the technology landscape across various end-use domains to have undergone a massive transformation. Alongside, there has been a vast upsurge in the number of computer networks as well, leading to a major surge in the demand for efficient systems and solutions to counter data threats. The implementation of IDS or IPS in the network system undeniably makes it feasible for the network administrators to assess the accurate location of the threats and then address the same. These systems also help avert further threats from those locations, thereby helping to accelerate the growth graph of IDS/IPS industry.
UK Intrusion Detection System / Intrusion Prevention System Market Revenue, By Type, 2018 & 2025 (USD Million)
Intrusion detection system solutions are known to be rather competent in protecting the integrity of computer networks, maintaining confidentiality, and shielding against malicious attacks prevailing in an organization. IPSs are so designed that they alert administrators about attack attempts, thereby delivering valuable information to businesses about network threats, malicious attacks, devices being targeted and much more. As more and more and more number of companies integrate these systems in their infrastructure to monitor logs and effortlessly extract information to provide further security to their networks, the global IDS industry share is bound to depict an upsurge in the years to come.
For most parts, a score of businesses already boast of having incorporated intrusion prevention systems in their infrastructure. Prominent conglomerates however, thriving in an era defined by consistent digitization and network integration, have been consistently seeking novel solutions by the day to tackle advanced threats and high-level frauds, thereby providing numerous growth opportunities for IPS industry contenders.
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For instance, IBM, a significant IPS market player, boasts of an intrusion detection and prevention system that provides real time security monitoring, a robust network, and efficient analysis of network and services. IBM’s Trusteer pinpoint malware detection system competently detects malware-impaired devices and also governs the type of threat and the potential risks associated with the same. A while ago, by the end of 2018, IBM had also announced its new Pinpoint Verify technology that would provide businesses with an innovative model to combat online frauds with a digital identity trust approach.
Citing an instance of yet another vital IDS market contender, Imperva, it is imperative to state that this company boasts of a suite of cloud web application firewall intrusion prevention solutions that are characterized by features such as two-factor authentication and web application firewall. While the WAF supports the existing IPS through behavioral and reputational heuristics that eradicate malicious incoming requests and other application attacks, the implementation of 2FA gateways for any URL helps choose a verification method and feasibly manage a database of approved users. With the demand for security solutions on a consistent rise, it would not be incorrect to state that IDS industry contenders can look forward to myriad growth opportunities in the years ahead.
The transportation and logistics sector has emerged as one of the most prominent application avenues for the global intrusion detection system market, fueled by the requirement of RFID tags in order to track the location of cargoes from the starting point to the destination. Not to mention, these systems have been gaining traction in this sector on account of the demand for door intrusion and tampering sensors that detect attempts of any type of intrusion in any of the boxes or containers and provide real time monitoring of vehicles and cargoes.
It has been speculated that in the years to come, next-gen IDS solutions will be designed to focus less on recognizing intruders and more toward sensing potentially apprehensive attacks or events. With the help of advanced AI algorithms, IDS market players are expected to brainstorm solutions that will be able to predict attacks beforehand and then provide an effective line of defense as opposed to the traditional approach.
Author Name : Deeksha Pant
Blockchain market to garner profits via extensive demand from the BFSI sector, global industry to record a mammoth CAGR of 75% over 2018-2024
The last decade has witnessed a dramatic acceptance of distributed ledger technology for data security, a shift that has led to blockchain market emerging as one of the most trending business spheres. The potential scope of blockchain technology for money saving, record-keeping, and digital information sharing has been remarkably attracting most of the technology giants to deploy the blockchain at their workplaces. Core companies across the banking, telecommunication, smartphone, and healthcare service sectors have also been looking forward to extensively adopting blockchain technology, thereby augmenting blockchain industry share over the years ahead.
UK Blockchain Market Share, By End-use, 2017
The emergence of blockchain in this modern technological era has indeed had a remarkable influence on the operational processes of several end-use sectors. The need for this technology has gained acceptance across several domains on account of its benefits over other existing technologies. A gist of how the implementation of the blockchain has impacted the BFSI sector has been enumerated in the paragraphs below.
How has blockchain technology proven to be an influential factor for BFSI?
The banking, financial services, and insurance (BFSI)industry is included among the most prominent business spheres that have successfully implemented the blockchain. The deployment of this technology has helped BFSI contenders reduce the infrastructure cost, owing to its capability of secure trading and cross-border payments. Taking into account the safety and financial benefits of blockchain, most of the banks are now looking forward to deploying compatible facilities alongside, which will favorably stimulate blockchain market size.
Validating the aforementioned fact, recently, the Bank of England updated its payments system to make it complement with blockchain technology. This announcement comes on the heels of BoE’s efforts to modernize banking systems to handle transactions securely. In fact, the bank designed this blockchain supporting financial technology to reduce the number of cyberattacks that cause a nuisance while performing banking as well as trading operations.
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Speaking more about the impact of initiatives taken by the giants in the banking industry on blockchain market, it would be imperative to state that some of the contenders of the former are looking forward to bringing revolutionary facilities given the large number of transactions that banks carry out per day. In fact, some of the banking and financial service companies are investing in the development of private blockchain platforms, which could have a significant influence on blockchain industry trends.
Citing an instance justifying the aforesaid, one of the largest UK based banks, Barclays, recently submitted a patent application regarding the development of a private blockchain platform that could be used for cryptocurrency transfer. The bank also plans to store customers’ information on its private blockchain. The streamlined deployment of blockchain technology across the BFSI sector is poised to boost product demand over the years ahead. For the record, in 2017, BFSI emerged as the dominant segment in blockchain market by accounting for 60% of the business share.
In addition to securing financial transactions, blockchain technology has also been used for a plethora of other applications that prioritize data security. In fact, many of the telecom providers have been eyeing blockchain technology to implement the same for communication networks. Recently, the Japan-based telecommunication firm Nippon Telegraph and Telephone company revealed its plan to develop a blockchain technology based contract agreement system. The telecom giant will use the invention to store contracts in an encrypted and decentralized manner.
Indeed, since the last few years, many enterprises have deployed blockchain technology to store contract agreements, driven by which blockchain market size from smart contract applications is slated to grow at an annual growth rate of more than 80% over 2018-2024.
Speaking along the same lines, a few days before, the South Korean telecom behemoth, KT Corp launched a new blockchain technology assisted commercial network – a wireless technology that can be used for numerous services such as energy management, identity authentication and roaming. This technology restricted the use of the Internet and various new technologies such as the Internet of Things, that allows it reduces the chances of hacking and identity theft. In addition to this new launch, KT Corp is looking forward to using blockchain based identity authentication technology for electronic voting services and local currency.
The surging adoption of blockchain technology by various companies for ensuring an easy workflow and data security is poised to push blockchain market share. Moreover, the noteworthy benefits of this newly developed distributed ledger technology are significantly attracting large companies as well as SMBs to develop private blockchain platforms. Driven by the increasing need for financial capitalization, data protection, and network enhancement, blockchain market will generate a revenue of more than USD 16 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Europe to emerge as a major growth avenue for vehicle tracking device market over 2019-2025
The global vehicle tracking device market size has witnessed an unprecedented growth rate owing to enhanced fleet management techniques which are reducing operation cost of managing large fleet operations. These tracking systems enable monitoring of fuel consumption, engine parameters, and driver’s behavior along with ensuring safety, thus making them an essential component in fleet management techniques.
Europe Vehicle Tracking Device Market Size, By Region, 2018 & 2025 (USD Million)
Wireless vehicle tracking devices are being increasingly used across various business verticals in the past few years owing to low power consumption and compact size. Wireless tracking devices facilitate extensive wired interface and wireless communications that easily adapt to the tracking requirements. They consist of built-in antennas and geo fencing techniques that reduce the overall size and eliminate external antennas and wires. Since wireless vehicle tracking devices are compact in size, they integrate easily into vehicles – a factor that is positively influencing vehicle tracking device industry outlook.
Several governments of developing nations are undertaking initiatives which focus on installing vehicle tracking devices to ensure safety of drivers, passengers, goods, and the vehicle as well. For instance, the Road Transport and Highway Ministry of India mandated the installation of tamper-proof GPS satellite systems in all public service vehicles – along the likes of buses and taxis – to ensure safety of women.
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In this context, it is quite imperative to mention that, in 2017, over 436 cases of women molestation on public transport were recorded across India, due to which strict measures are being taken by the government to curb such incidents. Along with tracking devices, the government recently ordered the development of AIS-140 – an automotive industry standard that ensures quality and reliability of devices used in case of emergency. Needless to mention, such initiatives by developing countries are favoring vehicle tracking device industry trends.
In terms of vehicle types in the global vehicle tracking device market, the heavy commercial vehicles segment is expected to surpass over 25% of the total revenue share in the coming years. According to a report by WHO, the number of road casualties across the globe stood at 1.35 million in the year 2018. The massive increase in road accidents on highways which leads to either damage of goods or loss of life – especially due to HCVs like trucks – has resulted in rise in the demand for GPS satellite systems, thus expanding vehicle tracking device market share.
The usage of vehicle tracking systems is gaining popularity in the mining industry due to the demand for safe mining operations. Mining companies are striving towards improving the safety conditions of both the mechanical assets as well as the employees. Real time tracking of mining vehicles allows the managers to have adequate information about their asset locations along with tracking the employees, in case of any emergency. Evidently, the use of tracking techniques in the mining sector is propelling the revenue scale of vehicle tracking device industry.
In terms of geographical expansion, the growing number of innovations in the automobile sector has invariably contributed to the remuneration scale of Europe vehicle tracking device market. With innovations like self-driving cars and the introduction of C-V2X (cellular vehicle – to – everything), there is a growing demand for vehicle tracking devices to facilitate safety of passengers. Several companies are introducing autonomous vehicles in Europe. For instance, the European Commission has urged the need for research and innovations of autonomous vehicles in this region.
Speaking along similar lines, the UK government has established the Centre for Connected and Autonomous Vehicles (CAV) to allow the testing of motorways in the country. A fully automatic vehicle thus needs a high precision positioning and sensor integration to ensure accuracy and reliability that the vehicle can be self-driven. Furthermore, a tracking device will ensure that the vehicle stays in line and at a safe distance from other vehicles.
Owing to the increasing number of innovations in automobile sector and the growing need to enhance road safety along with reduction in operational costs, the global vehicle tracking device market is expanding at a decent pace. Several initiatives are being undertaken by industry players to enhance the vehicle tracking capabilities to facilitate precision and reliability. The major players driving the global vehicle tracking device market include Maestro Wireless Solutions Limited, Orbcomm Inc., Verizon Communications, Suntech International Ltd. among others. According to a report by Global Market Insights, Inc., vehicle tracking device industry is estimated to exceed USD 3 billion by 2025.
Author Name : Shreshtha Dhatrak