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Financial Analytics Market, by Type, Organization Size, Deployment Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global financial analytics market was valued at $5,244 million in 2016, and is projected to reach $10,383 million by 2023, growing at a CAGR of 10.1% from 2017 to 2023.

Financial analytics help end users to focus on financial functions across organizations and provide better visibility into factors that drive costs, revenue, and shareholder value. Continuous advancement in technology, rise in need for cloud-based services, and growth in demand for financial analytics solutions among organizations are anticipated to boost the market growth. However, data security and privacy-related issues are anticipated to hinder the market growth.

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Based on type, the database management systems (DBMS) segment dominated the market in 2016, with around 35% revenue share. DBMSs are witnessing a significant change, as end-user organizations go through digital transformation including the leveraging of a wide variety of data types. Further, improved data security and data sharing play a significant role in growth of this segment.

The cloud segment is anticipated to expand at the highest CAGR of 14.1% throughout the forecast period, due to high adoption of cloud-based solutions among both, large enterprises and SMEs, owing to the transfer of large volume of critical and confidential data. These solutions facilitate enterprises with superior control over access to applications and sensitive information from distant locations. Furthermore, the increase in usage of mobile devices drives the demand for cloud-based solutions.

By organization size, the large enterprise segment dominated the market in terms of expenditure, accounting for 69% of the overall market revenue share in 2016.

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Among end users, the BFSI segment dominated with 29% market share in 2016. This is attributed to increase in application of financial analytics solutions in the banking and financial institutions. North America was the highest revenue contributor in 2016, accounting for around 43% share of the overall financial analytics market.

Driving factors for the market

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Blockchain in BFSI Market to Witness a CAGR of 73.8% by 2023

Sales Tax Software Market  Trends, Demand and Technology Growth 2019 to 2026

The Objective of the “North America 3D Rendering Services Market” report is to depict the trends and upcoming for the North America 3D Rendering Services Application industry over the forecast years. 3D Rendering Services report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2018 to 2025 mulling over 2017 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

North America promoted the 3D rendering market on another grade, as 3D rendering is used on a larger scale by North America. Moreover, North America has provided the maximum growth prospective in the global 3D rendering service market. According to a report published by Allied Market Research, the North America 3D rendering market is estimated to reach $18.30 billion, growing at a CAGR of 25.4% by 2025. Currently, North America has industry-specific 3D rendering software. However, 3D rendering services are expected to provide a great platform for the designer and architectural firms to improve their designs as well as production.

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3D rendering has modified the architecture and design industry with its visualized miniatures and patterns. Moreover, it has provided more opportunities to both the designers as well as the customers, benefiting them with cost-efficient and appealing solutions for home décor.

The architecture and design industries have been flourished with a 3D rendering for providing a creative and virtual presentation of building structures as mockups and miniatures. Currently, 3D rendering has been boon for the condensed sites and buildings. The designs have appeared in 3D format that seems visually attractive. The architecture and design industries are adopting 3D rendering as it offers the ability to present colors, textures, materials, and other required instruments for home decors and site constructions in 3D structures. This process of transformation is effortless as compared to the earlier procedures. Other than architects, interior/exterior designers, 3D rendering is used in industries such as automotive, telecommunication, film & animation, and industrial electronics for visualized projects. Other than this, the patterns used in 3D rendering for visualization are useful for designing construction miniatures. Moreover, the patterns can provide an easy demonstration of furniture and decor arrangements.

Architectural 3D rendering to be benefiting the industry:

3D rendering services actively present the conceptual diagrams of building constructions and home decors with detailed specifics. This helps the buyer and builder to examine the miniature closely before finalizing. What’s more, the interiors can be modified according to the customer’s desire. Furthermore, 3D visualization provides a widened perspective for various ideas during the conceptual period.

With 3D rendering, you can change the location of existing furniture or pre-plan the location of furniture, managing the space in your apartment accordingly. On the other hand, the 3D rendering services provide the designs and construction based on-site location. It saves time and money, as changing modifications including color, texture, or furniture afterward can lead to wastage of money, material, and time. However, architectural visualization improves budget control, as it presents the design before execution and allows to change the modifications if any. It can be used for advertising and selling residential and commercial units. 3D rendering is helpful for sales and marketing services as 3D rendering can be printed on catalogs and billboards, and can be used for trade shows and exhibitions as well.

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North America 3D Rendering Services Market Key Segments:

By Type Of Services

By End User

By Project Type

By Country

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360-degree Panoramic Camera Market  to experience significant growth during the forecast period 2019- 2026

Managed Application Services Market Growing at a CAGR of 10.8% Globally, by 2022

Application program interface (API) management is a set of processes that can design, publish, document, and analyze APIs in a secure environment. Also, it can distribute, control, and analyze various APIs that link applications and data across enterprise and clouds. Organizations can guarantee that the public and internal APIs created are consumable and secure through an API management solution. The primary goal of API management is to allow enterprises to utilize or publish an API, to monitor the interface's lifecycle, and to ensure that the developers and applications using the API needs are met. Hence, the global API management market size is anticipated to significant growth during the forecast period.  API management is mainly about centralizing the control of API programming which includes analytics, access control, monetization, and developer workflows. For example, Red Hat 3scale API management solution, provides flexibility, dependability, speed, and quality. Also, an API management solution provides rate limits, access control, and usage policies at the minimum.

Increase in demand for API-led connectivity is primarily driving the growth of the API management market. In addition, businesses across the globe are implementing strategies to manage their application program interface to rapidly respond to the changes in customer demands. This is a major factor expected to boost the growth of the global API management market. Companies among various industry verticals are focusing on offering enhanced in-store or out-store experience along with customized recommendations, product support, and offers according to the gender, location, and behavior of the customer though API management solutions. These are the major factors that are expected to drive the growth of the global API management market. However, dearth of professionals required for developing and implementing API management solutions is a challenging factor that can hamper the growth of the global API management market. On the contrary, low-code platform for API development is expected to offer significant opportunities for this market.

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The global API management market is segmented based on component, deployment, enterprise size, industry vertical, and region. Based on component, it is bifurcated into solutions and services. By solution, the market is further sub-segmented into security, API platform, API analytics. By services, the market is further sub-segmented into consulting, support and maintenance, training and education, and integration and implementation. Based on deployment, the market is categorized into cloud and on-premises. Based on enterprise size, it is classified into large enterprises and small & medium enterprises (SMEs). Based on industry vertical, it is divided into travel & transportation, media & entertainment, retail, healthcare & life sciences, IT & telecommunications, banking, financial services & insurance (BFSI), and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY MARKET SEGMENTS

By Component

By Deployment

By Enterprise Size

By Industry Vertical

Key Players

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Cloud API Market 

Managed Application Services Market

Behavior analytics is the area of data analytics that focuses on providing insight into the actions of people, usually regarding online purchase. It is used in e-commerce, gaming, social media, and other applications to identify opportunities to optimize in order to realize specific business outcomes. It is based on hard data-it uses the volumes of raw data people use while they are on social media or in gaming applications. This data is collected and analyzed and then used as the basis of making certain decisions, including advertisement placement. It is used to analyze the patterns of human behavior and then apply statistical analysis and algorithms to detect variances.

Growth in adoption of cloud-based behavior, analytic solutions, and improvement of security measures in behavior analytics are the major factors that drive the growth of the behavior analytics market. In addition, rise in need for threat prevention technologies and increase in demand for real-time analytics fuel the growth of the behavior analytics market. However, the shortage of trained security professionals and lack of awareness regarding advanced insider threats hamper the growth of the behavior analytics market. Furthermore, advanced cloud-based behavior analytics solutions offer better handling of sensitive data, thus providing major opportunities for behavior analytics market growth.

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The behavior analytics market is segmented based on component, deployment mode, organization size, industry vertical, and region. In terms of component, the market is segmented into solution and services. The solution type is further sub-segmented into compromised credential detection solutions, insider threat detection solutions, loss prevention solutions, and others. The service segment is further sub-divided into managed services and professional services. As per deployment mode, the market is bifurcated into on-premise and cloud. In terms of organization size the market is segmented into large size organization and small and medium size organization. As per industry vertical, the market is classified into BFSI, it and telecommunication, manufacturing, healthcare, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

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KEY MARKET PLAYERS PROFILED IN THE REPORT

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Allied Market Research recently published a report, titled, "Ground to Air On-Board Connectivity Market by Component (Hardware and Services), Technology (Satellite and Air to Ground), Application (Entertainment, Communication), and End Use (Maritime, Railway, Aviation, and On-road Transit): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global ground to air on-board connectivity market was pegged at $9.68 billion in 2018 and is projected to reach $24.44 billion by 2026, registering a CAGR of 13.8% from 2019 to 2026.

Incentives for market growth

Rise in IT spending in the aviation, railway, and maritime industry and increase in consumer disposable income, and surge in number of airline passengers have boosted the growth of the global ground to air on-board connectivity market. However, high costs associated with the deployment and connectivity issues hamper the market growth. On the contrary, surge in government initiatives to enhance customer services is expected to create lucrative opportunities in the near future.

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Services segment to dominate the market

The services segment held the largest share in 2018, contributing nearly three-fourths of the global ground to air on-board connectivity market, owing to rise in Internet of Things devices and surge in adoption of on-board connectivity technology by the aviation, maritime, railway, and on-road transit industries. Moreover, the segment is projected to portray the fastest CAGR of 11.3% during the forecast period.

Communication segment to manifest fastest CAGR by 2026

The communication segment is expected to register the fastest CAGR of 13.1% during the forecast period, owing to rise in trend of smartphones and influence of social media on everyone's life coupled with developments to improve connectivity issues and increased Internet speed. However, the entertainment segment dominated the global ground to air on-board connectivity market, accounting for more than three-fifths of the market, owing to increase in stress of individuals due to heavy work schedules and frequent commute.

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North America to held lion's share

The market across North America garnered the largest market share in 2018, contributing more than one-third of the market, owing to the existence of major players and growth in demand for scalable and cost-effective connectivity solutions. However, the global ground to air on-board connectivity market across the Asia-Pacific region is projected to register the fastest CAGR of 14.3% during the forecast period, owing to increase in communication services and booming aerospace industries in countries such as India, Japan, and China.

Driving factors for the market

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Allied Market Research published a report, titled, "Cloud API Market by Type (PaaS APIs, SaaS APIs, IaaS APIs, and Cross-platform APIs), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), and Industry Vertical (BFSI, IT and Telecommunication, Manufacturing, Education, Healthcare, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global cloud API market garnered $417.3 million in 2018 and is estimated to generate $1.78 billion by 2026, registering a CAGR of 20.3% from 2019 to 2026.

Surge in adoption of cloud computing, enhanced efficiency, DevOps automation, and rise in microservices adoption by organizations facilitate the growth of the global cloud API industry. However, security issues related to cloud API restrain the market growth up to certain extent. On the other hand, significant increase in demand for cloud native API is estimated to present new opportunities in coming years.

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Based on type, the segments, SaaS APIs and IaaS APIs, together accounted for nearly three-fourth of total share of the global cloud API market in 2018, and is estimated to maintain its dominance during the forecast period. This is attributed to surge in number of smartphones and connected devices across the globe. However, the IaaS APIs segment is estimated to register the fastest growth rate with a CAGR of 21.6% from 2019 to 2026.

Based on enterprise size, the large enterprises segment held more than four-fifths of total market share in terms of revenue of the global cloud API market in 2018, and is expected to continue its lead position by 2026. On the other hand, the small and medium enterprises (SMEs) segment would grow at the highest CAGR of 23.7% during the forecast period.

On the basis of industry vertical, healthcare and IT & telecommunication segments together accounted for nearly two-fifths of the total share in 2018, and will dominate in terms of revenue by 2026. This is due to rise in implementation of cloud-based services in these verticals. However, the manufacturing segment is expected to grow at the highest CAGR of 22.4% from 2019 to 2026.

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Based on region, North America accounted for the major share in 2018, holding nearly half of the global cloud API market, and will maintain its highest share throughout the forecast period. This is owing to high rate of adoption of cloud API for enhancing operational efficiency in the IT infrastructure. On the other hand, Asia-Pacific is expected to register the largest growth rate of CAGR of 23.7% from 2019 to 2026. This is owing to increase in penetration of software-based services and trend of digitalization in developing countries including India and China.

Key Market Players

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Cloud Enterprise Application Software Market Revenue to Reach a Value of $144,111 Million by 2023

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Allied Market Research published a report, titled, "Space Launch Services Market by Payload (Satellite, Human Spaceflight, Cargo, Testing Probes, and Stratollite), Launch Platform (Land, Air, and Sea), Service Type (Pre-Launch and Post-Launch), Launch Vehicle (Small (Less than 300 ton) and Heavy (Above 300 ton)), and End-User (Government & Military and Commercial): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global space launch services industry generated $8.90 billion in 2018, and is expected to garner $30.01 billion by 2026, witnessing a CAGR of 17.2% from 2019 to 2026.

Prime determinants of the industry

Rise in investment in space exploration activities by governments, surge in satellite launches across the world, and demand for commercial non-geostationary satellite orbit (NGSO) space launches drive the global space launch services market. However, high initial cost of investment and concerns related to interoperability hinder the market growth. On the other hand, space tourism and product innovation to reduce prices of space launch create new opportunities in the industry.

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Satellite segment to offer lucrative opportunities

Based on payload, the satellite segment held the largest market share in the global space launch services market in 2018, contributing for more than half of the total share, and is projected to maintain its dominating position during the forecast period. Moreover, this segment would register the largest growth rate with a CAGR of 17.7% from 2019 to 2026. This is due to surge in commercial usages in communication and earth observation for gathering accurate & relevant data. The research also analyzes human spaceflight, cargo, testing probes, and stratollite.

Government & military segment to maintain its dominating position by 2026

Based end user, the government & military segment held more than two-thirds of the total market share of the global space launch services market in 2018, and will maintain its dominating position by 2026. This is due to rise in investments in exploration activities, specifically in probe missions for military applications and human spacecrafts for future deep space exploration programs. On the other hand, the commercial segment is estimated to grow at the highest CAGR of 17.7% from 2019 to 2026.

The U.S. to maintain its dominance during the forecast period

Based on region, the U.S. held the major market share, contributing for nearly two-fifths of the total share of the global space launch services market in 2018, and will maintain its leadership status during the forecast period. This country would grow at the highest CAGR of 18.5% from 2019 to 2026. It is a lucrative segment due to manufacturers opting for business expansion activities and rise in government spending on satellites and space exploration activities.

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Market players grabbing the largest pie

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Commercial Satellite Imaging Market is Expected to Growth to Reach $5,256.4 Million by 2026

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Latin america commercial satellite imaging Market  is Expected to Reach $273.3 million by 2025

The Objective of the “Global Rolling Stock Market” report is to depict the trends and upcoming for the Rolling Stock  industry over the forecast years. Rolling Stock  Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2018 to 2026 mulling over 2017 as the base year o the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

Rolling Stock Market by Product Type (Locomotives, Rapid Transit (DMU, EMU, Light Rail, Metro) Wagons, Coaches), Locomotive Propulsion (Diesel and Electric), Application (Passenger & Freight), Components: Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global rolling stock industry garnered $58.60 billion in 2018, and is expected to reach $73.8 billion by 2026, growing at a CAGR of 2.9% from 2019 to 2026.

Top impacting factors

Surge in allocation of the budget for development of railways, increase in demand for safe, secure, & efficient transport, and growth in usage of public transport services for minimizing traffic congestions drive the growth of the global rolling stock market. However, high capital investment and refurbishment of existing stock hinder the market growth. On the other hand, enhancement in railway infrastructure, specifically in developing countries and rise in industrial & mining activity create new opportunities in the industry.

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Freight wagons segment to maintain its lead position by 2026

Based on type, the freight wagons segment held the highest market share in terms of revenue in the global rolling stock market in 2018, contributing nearly half of the total share, and is expected to maintain its lead position during the forecast period. This is due to different commercial advantages including rise in reliability in freight transportation, cost-effectiveness, and improved speed. On the other hand, the metros segment is expected to register the fastest growth rate with a CAGR of 5.2% from 2019 to 2026.

Cargo train to contribute its highest share during the forecast period

Based on end use, the cargo train segment accounted for around three-fifths of the total market share of the global rolling stock market in 2018, and is expected to contribute its highest share during the forecast period. This is due to surge in reliability in freight transportation, enhanced speed, and cost-effectiveness. However, the passenger transit segment would grow at the largest rate with a CAGR of 3.5% from 2019 to 2026, owing to high budget allocation in the most of the countries to improve automation in the railway sector.

Asia-Pacific to grow the fastest

Based on region, Asia-Pacific is expected to grow at the fastest rate with a CAGR of 4.4% from 2019 to 2026, owing to commitment of developing countries such as China, Japan, India, and others to continuously improve their rail infrastructure. North America would grow at a CAGR of 3.0% during the forecast period. Europe accounted for the major market share, contributing to nearly one-third of the total share of the global rolling stock market in 2018, and will maintain its pole position during the forecast period. This is attributed to development of fully automated trains and continuous improvements to meet the current standards.

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Leading Market Players

Driving factors for the market

Market Restraints and Opportunities: 

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VFX Software Market by Component (Software and Service), Deployment (On-premise and Cloud), and Application (Movies, Advertising, Television, and Gaming): Global Opportunity Analysis and Industry Forecast, 2019–2026." As per the report, the global VFX software industry was estimated at $559.53 million in 2018 and is expected to reach $1.45 billion by 2026, growing at a CAGR of 12.7% from 2019 to 2026. The report offers an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Drivers, restraints, and opportunities

Rise in use of visual effects in movies, increase in demand for high quality content by consumers, and adoption of cloud for VFX drive the growth of the global VFX software market. On the other hand, presence of free & open-source VFX software hampers the growth to certain extent. However, integration of Virtual Reality (VR) technology for visual effects and use of artificial intelligence in VFX software are expected to create lucrative opportunities in the near future.

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The software segment to maintain its leadership status till 2025

Based on component, the software segment contributed to more than two-thirds of the global VFX software market share in 2018 and is expected to dominate throughout the forecast period. Rising demand for moving media which cannot be completed through live-shooting is propelling the market for VFX software segment. The service segment, on the other hand, is projected to grow at the fastest CAGR of 13.4% during 2019–2026. There has been a steep rise in the adoption of services among end users, as they ensure effective functioning of software and platforms throughout the process.

The on-premise segment to remain lucrative during the estimated period

Based on deployment, the on-premise segment accounted for three-fifths of the global VFX software market revenue in 2018 and is anticipated to rule the roost by 2026. The fact that one-premise software has complete control on video content and also ensures the privacy related to the data or content has spurred the growth of the segment. Simultaneously, the cloud segment would register the fastest CAGR of 13.6% by 2026. Low investment cost and economical plans of VFX software as a service are fueling the demand for this segment.

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North America to maintain its dominance throughout the forecast period

Based on geography, North America held the major share in 2018, generating one-third of the global VFX software market. The presence of large number of studios in North America that are using visual effects is the key factor that drives the growth of the North America VFX software market. At the same time, the Asia-Pacific region would cite the fastest CAGR of 13.6% till 2026. This is attributed to the growing demand of visual effects in film industry.

Key market players

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Blockchain in BFSI Market by Component (Platform and Services), Application (Digital Currency, Record Keeping, Payments & Settlement, Smart Contracts, Compliance Management, and Others), Organization Size (Large Enterprises and Small & Medium Enterprises), and Industry Vertical (Banking, Insurance, and Non-Banking Financial Companies (NBFCs)): Global Opportunity Analysis And Industry Forecast, 2018–2026." According to the report, the global blockchain in BFSI market garnered $277.1 million in 2018, and is estimated to reach $22.46 billion by 2026, growing at a CAGR of 73.8% from 2019 to 2026. The report also provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.

Rise in need for transactions transparency & accountability, greater adoption of cross-border payments and surge in investment by banks in blockchain-based solutions fuel the growth of the global blockchain in BFSI market. On the other hand, lack of skilled workforce restrains the growth to some extent. However, increase in demand from developing economies and growth in demand for increased scalability, transaction speed and reduction in processing costs are expected to create a number of opportunities in the near future.

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The platform segment to lead the trail by 2026

Based on component, the platform segment accounted for nearly three-fourths of the global blockchain in BFSI market share in 2018 and is expected to dominate throughout the forecast period. This is attributed to its quality to create new products and services which helps in generating new revenue opportunities for organizations. The services segment, on the other hand, is projected to grow at the fastest CAGR of 76.1% during 2019–2026. Rise in need to deploy and integrate blockchain platform and solutions in BFSI ecosystem are the major factors accelerating the market growth.

The small contracts segment to dominate during the study period

Based on application, the small contracts segment held the major share in 2018, contributing to nearly two-fifths of the global blockchain in BFSI market. Increase in demand from enterprises to fill the analog gap between contracts is fueling the growth of the segment. The compliance management segment, on the other hand, is anticipated to cite the fastest CAGR of 78.7% till 2026. The ability of compliance management to provide immutable records for regulators has worked as the major factor driving the growth of the segment.

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North America to rule the roost in terms of revenue

Based on geography, North America contributed to nearly half of the global blockchain in BFSI market revenue in 2018 and is expected to retain its dominance by 2026. The presence of major market players and growing concerns for forgery in the region has propelled the adoption of blockchain. Simultaneously, the Asia-Pacific region would showcase the fastest CAGR of 79.3% during the estimated period. This is due to increase in collaborations, merger, and acquisitions activities among BFSI and IT organizations in this province.

Leading market players

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Market Restraints and Opportunities: 

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Allied Market Research published a report, titled, "Automotive Pedestrian Protection System Market by Type (External Airbags and Pop-Up Bonnets), Component Type (Sensors, Actuators, Control Units, and Others), Vehicle Type (SUV, Hatchback, and Sedan), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report provides a detailed synopsis of the drivers, restraints, and opportunities dominating the industry. Also, it confers on top pocket investments, technology trends, segmentation, and market size & share that are currently ruling the segment. As per the report, the global automotive pedestrian protection system market was estimated at $5.13 billion in 2017 and is expected to hit $10.18 billion in 2025, growing at a CAGR of 9.1% during the study period.

Rise in number of road accidents, high adoption rate of advanced emergency braking & collision control system, and rising demand for improved visibility as well as safety features have fueled the growth of the global automotive pedestrian protection system market. On the other hand, high integration & maintenance cost and lower efficiency in bad weather conditions have restrained the growth to certain extent. However, rise in the number of passengers, increasing automotive safety norms, and growing registrations for luxury vehicles have created multiple opportunities in the segment.

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Pop-up bonnets to hold the lion's share

Based on type, the pop-up bonnets segment held the lion's share in terms of revenue in 2017, accounting for more than 99% of the total market. Factors such as reduced fatalities as well as road accidents and safety & security norms set by NCAP are expected to mount up the adoption of active hood technology during the study period.

The sensors segment to maintain its top status during the forecast period

Based on component, the sensors segment contributed to more than two-fifth of the total market in 2017 and is expected to dominate through 2025. Feature of distinguishing fixed as well as moving object, ability of penetration through fog, snow, rain, darkness, clouds and more, and determination of angular position, location, and velocity of the object have spurred the growth of the segment.

OEM segment to rule the roost

Based on distribution channel, the OEM segment held the highest share in 2017, accounting for 99% of the total market. The increase in demand for automotive safety features and components from OEM has worked as the prime factor behind the worthwhile growth of the segment.

Europe to continue its dominance in terms of revenue by 2025-

Based on region, Europe contributed to more than two-fifth of the total market in 2017 and is expected to remain dominant throughout the forecast period. Government norms (NCAP) for automotive pedestrian safety, rapid industrialization and focus on developing newer products to meet changes in consumer demands in the region have driven the growth.

Leading Market Players-

The key market players analyzed in the research include Robert Bosch GmbH, Audi AG, Magneti Marelli SpA, Continental AG, Mobileye N.V., Autoliv, ZF Friedrichshafen AG, Nissan Motor Corporation, Valeo, and Denso Corporation. They have adopted a plethora of strategies such as group effort, partnerships, mergers & acquisitions, developments, joint ventures, and others to retain a stronghold in the industry.

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Driving factors for the market

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Allied Market Research published a report, titled, "Biometrics-as-a-Service Market by Component (Solution and Services), Organization Size (Large Enterprises and Small & Medium Enterprises), Modality (Unimodal Biometrics and Multi-Modal Biometrics), Industry Vertical (BFSI, Retail and E-commerce, Healthcare, Government & Defense, IT & Telecom, Education, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global Biometrics-as-a-Service industry garnered $1.42 billion in 2018, and is estimated to reach $5.37 billion in 2026, growing at a CAGR of 18.2% from 2019 to 2026. The report also provides an in-depth analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and wavering market trends.

Drivers, restraints, and opportunities-

Rise in advanced cyber -attacks, growth of IoT landscape, and stringent government regulations drive the growth of the global Biometrics-as-a-Service market. On the other hand, security and privacy concerns associated with data stored on cloud impedes the market growth to a certain extent. However, rise in the adoption of cloud-based biometrics among SMEs and addition of artificial intelligence in biometrics-as-a-service solutions expected to create a number of lucrative opportunities in the near future.

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The component segment to lead the trail by 2026

Based on component, the solution segment contributed nearly three-fourths of the global Biometrics-as-a-Service market share in 2018. This is due to increase in focus on data security, rise in IoT landscape, and stringent government regulations for data security. On the other hand, the service segment is projected to grow at the fastest CAGR of 20.9% throughout the study period. This is due to the services have a major role in determining the gap analysis and benchmarking against leading industry practices, which will drive the market during the forecasted period.

The unimodal segment held the largest share in 2018-

Based on modality, the unimodal segment held the lion's share in 2018, garnering more than two-thirds of the global Biometrics-as-a-Service market. This is due to the increase in the adoption of these systems because of reliability and accuracy provided by the unimodal biometrics. At the same time, the multimodal segment would cite the fastest CAGR of 20.4% by 2026. This is due to secrecy and security of user data, the availability of multiple traits, and high-level security inherent by combining different biometrics without slowing down the operations.

Asia-Pacific to held the lion's share in 2018, North America to follow-

Based on geography, the market across North America accounted for nearly two-fifths of the global Biometrics-as-a-Service market revenue in 2018. This is due to the surge in online transactions and increase in cyberattacks among the organizations. However, the Asia-Pacific region would cite the fastest CAGR of 20.7% from 2019 to 2026. This is due to increase in the investment by the government in biometrics projects such as national ID cards and e-passports, increase in the rise of cyber-attacks, and growing cybersecurity spending among organizations.

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Key players:

Driving factors for the market

Market Restraints and Opportunities: 

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