Banking, Financial Services & Insurance

Mobile Payments Market is Expected to Witness the Highest Growth of $3,388 Billion by 2022

Posted on

Adoption and spread of mobile payment has resulted into the entry of leading companies such as Apple, Google, and MCX into the competitive landscape. These market players have launched new generation of transactional applications that not only streamline business process but also provide for greater transaction savings. With the growing number of end-users, focus would drift towards the security and speed of the transaction in the coming years.

 

Mobile Payments Market Report, Published by Allied Market Research, forecasts that the global market is expected to garner $3,388 billion by 2022, registering a CAGR of 33.4% from 2016 – 2022. Asia-Pacific is expected to witness the highest growth during the forecast period. Mobile payments through short message services (SMS) mode dominate the market, whereas near field communication (NFC) would witness growth in its market share in coming years and is anticipated to grow at a robust rate.

View Detail Summary of this report: https://www.alliedmarketresearch.com/mobile-payments-market

mobilepay

Increased penetration of smartphones, growth in m-commerce industry, change in lifestyle, and the need for quick and hassle-free transactions are the major factors that drive the market growth. In order to expand their market share, global players such as Paytm, MasterCard, Apple, and Samsung have launched new mobile payment apps and mobile wallets that allow customers to make payments with their phones/smartphone.

By mode of transaction, in 2015, SMS accounted for about 54% of the overall mobile payments market revenue, followed by wireless application protocol (WAP), which covers one third of the overall mobile payments market size. However, NFC has high growth potential and is anticipated to exhibit CAGR of around 36% during the forecast period. Growing shipment of NFC enabled smartphones and increased merchant support for NFC technology across the point of sale terminals would fuel the growth of this segment.

Mobile payments through mobile wallets/bank cards are anticipated to witness the higher growth rate during the forecast period, owing to the increase in incentivization given by the market players for payment done via wallet and card. In addition, companies such as Paytm, which provide mobile wallet have collaborated with Uber to cater a larger customer base and make customers rides hassle free.

Retail segment is projected to maintain its lead in the overall mobile payments market as the rising number of tech-savvy consumers are opting to shop online with their smartphone. Similarly, hospitality & transportation segment is anticipated to witness robust growth as these service providers have started to offer their services through online apps, since consumers are frequently making their travel bookings through mobile/smartphones.

Asia-Pacific generated the maximum revenue in 2015. Moreover, it is anticipated to maintain its lead during the forecast period. However, North America and Europe have also indicated high growth potential, given that the customers are offered discounts and promotional offers while making mobile payments through mobile wallets and apps. For quick and easy money transaction, Mobile payments have become the most preferred medium among consumers.

Key Findings

• Increased penetration of smartphones and online services would accelerate the growth of the overall mobile payments market.
• China would remain the leading revenue generating country throughout the period, growing at a CAGR of 35.1 % during the forecast period.
• In 2015, mobile money accounted for 75% of the overall mobile payments market share.
• Hospitality & transportation is anticipated to grow at an unprecedented rate of 34.5% during the forecast period.

Key players profiled in this report include Orange S.A. (France), Vodacom Group Limited (South Africa), MasterCard Incorporated (U.S.), Bharti Airtel Limited (India), MTN Group Limited (South Africa), Safaricom Limited (Kenya), PayPal Holdings, Inc. (U.S.), Econet Wireless Zimbabwe Limited (South Africa), Millicom International Cellular SA (Luxembourg), and Mahindra Comviva (India).

Data Center Cooling Market is Expected to Reach $11.65 Billion, Globally by 2020

Posted on Updated on


Increase in data volume and cloud adoption are the major market drivers for the growth of this market. The North American region will prove to be a major revenue contributor in the data centre cooling market during the forecast period. However, with the rise in industrialization, the Asia-Pacific market would also be a key region in the cooling market.

Data Center Cooling Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $11.65 billion by 2020, registering a CAGR of 13.17% during the period 2014-2020. Precision Air Conditioning (PAC) would drive the market significantly by the year 2020, as its setup cost is comparatively less than Precision Air Handling Unit (PAHU). The data centre cooling system market primarily includes two components chillers and air conditioners. Chillers contributed to 70% of total global data centre cooling market in 2013.

Read more about this report: https://www.alliedmarketresearch.com/data-center-cooling-marketdcc

Amongst all verticals, telecom and IT, are the major contributors to the market revenue of the data center cooling market. The growing number of applications in healthcare and retail sector have a good scope in the data centre cooling solutions. A large amount of data processing is required due to the rapid increase in e- commerce sites and growth in hospital data. Banking, financial services and insurance (BFSI), Energy and others sector will prove as a moderate contributor, in terms of revenue, for the global data centre cooling market. The cooling technology giant, Emerson, launched an extended-size version of the ultra-silent outdoor coil condenser for data centre cooling systems which features an increased capacity of 220KW.

Increase in data volume and cloud adoption are the major market drivers for the growth of this market. The North American region will prove to be a major revenue contributor in the data centre cooling market during the forecast period. However, with the rise in industrialization, the Asia-Pacific market would also be a key region in the cooling market.

Key findings of Data Center Cooling Market:

  • The global data centre cooling market is growing due to increasing adoption of data centres across key verticals such as Telecom & IT, retail, healthcare, BFSI and
    government during the forecast period (2014 – 2020)
  • Telecom & IT is amongst the major contributors towards the growth of the data centre cooling market during 2014-2020
  • North America enjoys the biggest share in the global data centre cooling market and also holds a significant position in revenue generation

The growth of the data center cooling market is supplemented by big data processing which requires more cooling solutions. Companies like Emerson, Schneider and Rittal are enhancing their cooling capacity to reduce extra power consumption. In order to gain higher market share, companies are adopting product launches along with acquisition and partnership as prime strategies. Prominent companies profiled in thereport include Emerson, Schneider, Rittal, Stulz, IBM, HP, AdavtiveCOOL, and Hitachi.

Cyber Insurance Market to Reach $14 Billion, Globally, by 2022

Posted on Updated on

Cybercrime is still a serious threat and no longer is considered as a risk covered under traditional network security insurance product. Organizations from all industries need coverage for liability and property exposure which is a result of cyber-attacks. This is an opportunity for insurers and reinsurers to innovate cyber insurance products that manage various degrees of risks and cover cost-associated data breaches, credit monitoring, forensic investigations, reputation management, and business interruption.

cyber_insurance

Cyber Insurance Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $14 billion by 2022, registering a CAGR of nearly 28% during the period 2016-2022. North America constituted the largest cyber insurance market share in 2015 and it would continue to dominate the market during the forecast period. Growth in the region is supplemented by enforcement of data protection regulations in U.S. Moreover, increase in levels of liability and legislative developments accelerate the market growth.

Increase in awareness about cyber risks from boardroom to data centers owing to the rising number of cyber-attacks in the past 23 years is the prime factor that drives the market. However, complex and changing nature of cyber risks limits cyber insurance market growth. Low market penetration of cyber insurance policies in developing countries offers promising business opportunity for market players.

Enquire more about report at: https://www.alliedmarketresearch.com/request-free-sample/1705

The global cyber insurance market is segmented based on industry verticals, company size, and geography. Based on industry verticals, the market is segmented into healthcare, retail, financial services (BFSI), information technology and services, others (utilities, energy, manufacturing, construction, and transportation). BFSI and information technology sector were the early adopters of cyber liability insurance policies to protect their data. Although, as per the study, Healthcare vertical generates around one-third of the premium as these companies possess huge third-party data such as personal details of consumers, employment details and cyber criminals can easily misuse this data to make money. For instance, in U.S., around 78% of hospitals are secured under cyber insurance.

Based on revenue generated by companies, cyber insurance market is categorized as very small-sized (2.5 million to 99 million), small-sized (100 million-299 million), medium-sized (300 million to 1billion), and large companies (1 billion and above). Despite the fact that cyber security and cyber risks are acknowledged as serious threat, several companies do not purchase cyber insurance policies. However, the market has witnessed a change in the scenario. Companies of all sizes tend to purchase cyber insurance policies, owing to legal developments. Large companies contribute significantly, i.e., around 70% of the overall cyber insurance market in 2015, as loss of any kind of data has negative repercussions on their businesses.

North America dominates the cyber insurance market and accounts for around 87% of the overall cyber insurance market in 2015. Mandatory legislation regarding cyber security in several U.S. states has led to higher penetration of cyber liability insurance policies. The U.S. cyber insurance industry has become mature, and growth of the cyber insurance industry is projected to decrease owing to rising adoption of cyber liability insurance policies. Europe has very less penetration of cyber insurance liability policies as compared to that of the U.S. The European council has recently passed regulations regarding data protection and security, which are projected to be brought into effect in 2018. These regulations would oblige companies to purchase cyber insurance policies. Though Asia-Pacific accounts for negligible percentage share, it is expected to grow at a significant CAGR during the forecast period owing to a significant increase in ransomware attacks.

Key Findings of the Cyber Insurance Market:

– North America generated highest revenue in 2015 and will continue to lead the market during the forecast period.
– Europe is projected to grow at the highest rate.
– Large companies contribute significantly in generation of cyber insurance premium.
– Healthcare industry was the major buyer of cyber insurance policies in 2015 and will continue to lead the market during the forecast period.

Key companies profiled in the report are American International Group, Inc. (U.S.), The Chubb Corporation (U.S.), Zurich Insurance Co. Ltd (Switzerland), XL Group Ltd (Republic of Ireland), Berkshire Hathaway (U.S.), Allianz Global Corporate & Specialty (Germany), Munich Re Group (Germany), Lloyds (U.K.), Lockton Companies, Inc. (U.S.), and AON PLC (U.K.).