By 2025 Data Governance Market projected to reach $5.7 billion from $2.81 billion in 2020

According to market research report "Data Governance Market by Component, Deployment Model, Organisation Size, Application (Risk Management, Incident Management, and Compliance Management), Vertical (Manufacturing, Healthcare and BFSI), and Region - Global Forecast to 2025", published by MarketsandMarkets™, size is expected to grow from USD 2.1 billion in 2020 to USD 5.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period. Due to the rapidly increasing growth in data volumes, rising regulatory and compliance mandates, and enhancing strategic risk management and decision-making with the increasing business collaborations are expected to drive the growth of the data governance market.

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The risk management application segment is expected to have the largest market share during the forecast period.

The solution providers of the risk management application deliver significant value to businesses by ensuring their important financial data assets are formally managed throughout enterprises. These vendors provide automated risk management solutions to mitigate risks and align critical-business processes with the help of functions, such as managing IT security-based compliance mandates, including ISO 27001, and providing automated risk notifications. Risk management application and solution providers have the potential to deliver significant outcomes and reshape organizations’ businesses by providing automated solutions across multiple industry verticals.

The Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to dominate the market, whereas the retail and consumer goods industry vertical is expected to grow at the highest CAGR during the forecast period.

The Banking, Financial Services, and Insurance (BFSI) industry vertical has realized the significance of data management and governance, which help govern and secure multiple transactions in organizations. Financial institutions constantly face challenges, such as data quality and accessibility, and data security. Data governance solutions help these institutions and banks handle such challenges with effective data management solutions that can prevent data duplication and data loss. Moreover, data governance solutions help BFSI firms maintain an edge in the market, with constant updates to their policies and procedures.

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North America is expected to hold the largest market share, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.

The global Data Governance Market has been segmented on the basis of regions that include North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest market size and continues to dominate the global Data Governance Market from 2020 to 2025, due to the significant adoption of data governance and management solutions and the presence of a large number of vendors in the US. Enterprises in this region have quite well-established processes and the high-levels of technology awareness. The risk management and data management capabilities of these organizations are also high as compared to that of organizations in other regions. The increasing penetration rate in multiple industry verticals, such as BFSI, retail and consumer goods, IT and Telecommunications, and healthcare and life sciences, are expected to drive the market growth. APAC offers significant growth opportunities, owing to the growing technology expenditures in major countries, such as China, India, Singapore, and Australia, and the demand for cost-effective data management and governance solutions and services among Small and Medium-sized Enterprises (SMEs). These factors are expected to drive the Data Governance Market growth during the forecast period.

The major vendors of data governance solutions and services include  IBM (US), Oracle (US), SAP (Germany), SAS (US), Collibra (US), Informatica (US), Talend (US), TopQuadrant (US), Information Builders (US), Alation (US), TIBCO (US), Varonis (US), erwin (US), Data Advantage Group (US), Syncsort (US), Infogix (US), Magnitude Software (US), Ataccama (US), Reltio (US), Global Data Excellence (Switzerland), Global IDs (US), Innovative Routines International (US), Denodo (US), Adaptive (US), Microsoft (US), Zaloni (US), Alex Solutions (Australia), Microfocus (UK) and Mindtree(US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Image Recognition in Retail Market by Technology, Component, Application, Deployment Type, and Region - Global Forecast to 2025

According to market research report "Image Recognition in Retail Market by Technology (Code Recognition, Digital Image Processing) Component (Software and Services), Application (Visual Product Search, Security Surveillance), Deployment Type, and Region - Global Forecast to 2025" published by MarketsandMarkets, the global image recognition in retail market size is expected to grow from USD 1.4 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. Need to increase on-shelf availability, enhance customer experience, and maximize RoI is one of the major factors driving the growth of the market.

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Professional services to account for the highest market share during the forecast period

Service providers provide professional services, such as consulting, training, support, and maintenance services that help retailers gain descriptive knowledge about software. Vendors also provide online and onsite training so that retailers can use software in a better way. Providing training and support services while deploying image recognition software has generated a level of awareness about the use of the software, thus strengthening the growth for the services segment. Continuous training sessions to resolve business complexities further enable retailers to gain expertise in newly adopted software.

Cloud segment to grow at a higher CAGR during the forecast period

The increasing use of the internet, along with the high adoption of innovative technologies, such as the web, mobile, social media, and analytics supplement the growth of cloud-based image recognition techniques. Retailers deploy image recognition software solutions on-premises to encourage and strengthen marketing endeavors, which involve high costs with limited scalability. This has encouraged retailers to adopt cloud-based image recognition solutions as they do not involve high upfront costs. Cloud-based services reduce licensing costs, cut down on unnecessary IT staff, focus on maintenance, and offer retailers with greater flexibility to expand their business. However, to implement a cloud model deployment, enterprises first need to analyze the benefits of their existing set-up and those that a cloud-based service can give them. In addition, security concerns remain a critical issue that restricts its adoption; however, the security issue is gradually being eliminated through rigorous security tests of the highest standards by third parties

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North America to lead the image recognition in retail market during the forecast period

North America is expected to account for the highest share of the image recognition in retail market in 2020. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adoption of advanced technologies. The North American region exhibits a wide presence of key industry players offering image recognition in retail software and services, and its financial position enables the region to invest majorly in leading tools and technologies for effective business operations.

Google (US), Microsoft (US), AWS (US), IBM (US), Trax (Singapore), NEC Corporation (Japan), Qualcomm (US), Slyce (US), Catchoom (Spain), Intelligence Retail (US), Imagga (Bulgaria), Vispera (Turkey), Snap2Insight (US), ParallelDots (US), Clarifai (US), Deepomatic (France), Blippar (UK), Ricoh Innovations (US), LTU (France), ShelfWise (Poland), Trigo (Israel), Wikitude (Austria), Standard Cognition (US), Huawei (China), Honeywell (US), and Zippin (US) are some of the major companies operating in this market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Application Modernization Services Market worth $24.8 billion by 2025

According to market research report on  "Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming), Cloud Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Application Modernization Services Market size is expected to grow from USD 11.4 billion in 2020 to USD 24.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period.

Key factors driving the Application Modernization Services Market include growth of cloud services, large scale migration of workloads to cloud-based and Service Oriented Structure (SOA), rising focus transforming and modernizing legacy systems, and rise in demand for modern infrastructure to ensure business continuity.

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By service, the application re-platforming segment to hold the largest market size during the forecast period

The application re-platforming segment to hold the largest market size during the forecast period. Application re-platforming as re-platforming offers faster application delivery and time-to-market, along with flexibility, scalability, faster networking speeds, and reduced TCO. To keep up with rapid technology evolution and the demands of current markets, large organizations are urged to adopt modernization services for their legacy systems, thereby increasing the demand for application migration to cloud and leading re-platforming services to grow.

By cloud deployment mode, hybrid cloud segment to grow at the highest rate during the forecast period

With rapid demand for applications that can reside on different cloud infrastructures with the help of new technologies such as containerization and microservices, has helped increase demand for hybrid cloud infrastructure. It is a must to assess the movement of applications to hybrid cloud, wherein the best of both private and public cloud features can be utilized. Thereby, growing the requirement for hybrid cloud services at a fast pace.

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North America to hold the largest market size during the forecast period

North America is expected to account for the largest market size in the Application Modernization Services Market by region during the forecast period. The region houses various service providers who are continuously engaged in delivering cloud based, and advanced technology infrastructure and solutions. Increasing need to reduce costs associated with software development and demand for better customer experience is expected to boost the adoption of application modernization services technology in North America.

The Application Modernization Services Market comprises major solution providers, such as Accenture (Ireland), IBM (US), Atos (France), HCL (India), Capgemini (France), Bell Integrator (US), Blu Age (France), Cognizant (US), Aspire Systems (India), Dell (US), DXC Technology (US), EPAM Systems (US), Fujitsu (Japan), Hexaware (India), Infosys (India), Innova Solutions (US), LTI (US), Microfocus (UK), MongoDB (US), NTT Data (Japan), Oracle (US), Softura (US), TCS (India), Virtusa (US), and Wipro (India). The study includes an in-depth competitive analysis of key players in the Application Modernization Services Market with their company profiles, recent developments, and key market strategies.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr.Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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sales@marketsandmarkets.com
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COVID-19 Impact on Intelligent Process Automation Market worth $16.3 billion by 2025

Post COVID-19, According to a research report "COVID-19 Impact On Intelligent Process Automation Market by Component, Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets, the impact of COVID-19 on the global Intelligent Process Automation (IPA) Market size is expected to grow from USD 10.0 billion in 2020 to USD 16.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. Over the years, organizations have enhanced the level of innovation; and with the outbreak of COVID-19, a majority of operations have been compromised. This has forced organizations to function in a non-optimized manner, as a result of which they are looking for innovative areas that can improve their revenue by a small percentage.

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Information Technology service vertical to witness the highest market growth during the forecast period within the global intelligent automation market
Most of the processes in the IT vertical are already operated on the cloud infrastructure and had a minimal impact on COVID-19. The demand for paperless workflow is increasing the demand for IPA solutions in the IT vertical. However, lockdowns and social distancing have reduced the demand in the economy, causing a huge financial crunch, and firms are reluctant to spend an additional amount on the IT infrastructure. IT spending is set to decline by 2.5% in 2020.
Nearly every IT firm is operating from home and collaborating over the cloud infrastructure to improve communication further and improve the business process. IT firms are further automating the tasks, increasing the demand for IPA-led automated software and low-code application platforms in the coming years. Lockdown led an increase in the use of electronic devices and applications more often, which further increases the chance of planting a range of malware into devices easier due to the possibility of poor IT support.
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The component segment, by solutions, is expected to see high growth during the forecast period in the global Intelligent Process Automation Market
Owing to the work from home scenario, most industry verticals are facing operational delays and issues in employee supervision, impacting the need for an efficient operational model using digitization and automation. It is expected to affect the IPA solutions industry as the demand increases with more and more organizations adopting digitalization and automation. There is a need to increase digitalization in organizations, making digitalization a major driver for various organizations to adopt the IA process. The other benefits are improved operational efficiency and time management that are increasing the adoption of IPA tools. Applications, such as digital assistance using bots, are being deployed to answer customer queries in various organizations. Amid COVID-19, organizations will increase digital innovations by prioritizing digital channels to ensure operational consistency.

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North America is expected to hold the highest market size in the Intelligent Process Automation Market
North America held the largest market share in the impact of COVID-19 on the IPA market across the major verticals. COVID-19 has severely affected the North American region due to various factors, such as a high number of immigrants traveling in the region, no initial stage lockdown in the country, and presence of a large number of virus carriers in the country at once, spreading the disease at a rapid pace.
North America, being one of the most developed regions, has heavily invested in technologies such as automation, analytics, AI, and ML. The developed infrastructure and growth in the demand for digitalized technologies across North America is driving the implementation of IPA among industries. Most industries are using AI to create different predictive models so that they can be aware of the market dynamics during this pandemic.
These verticals are expected to grow at a much high rate than expected in 2020. Overall the market will be impacted by COVID-19 led financial crunch, and the region will witness low adoption of the IA process in 2020. However, the strong adoption of IPA solutions is expected from 2021. The major vendors in the Intelligent Process Automation Market include Accenture (Ireland), Atos (France), IBM (US), Capgemini (US), Cognizant (US), Blue Prism (UK), TCS (India), Wipro (India), CGI (Canada), HCL technologies (India), Tech Mahindra (India), UiPath (US), Xerox (US), DXC Technology (US), NTT Data (Japan) Infosys (India), Pegasystems (US), PwC (UK).

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/covid-19-impact-on-intelligent-process-automation.asp