#bfsi payment

[whiztekcorp]

Software Development Company in USA and India

[global-research-report]

Market Dynamics of Payment Instruments: Opportunities and Challenges

The global payment instruments market was valued at USD 111.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.3% from 2022 to 2030. The growth is expected to be driven by the increasing digital payment platforms such as mobile banking, personal finance management, and digital wallets. The growing development of non-cash payment instruments such as mobile wallets, credit cards, and smart cards is anticipated to further fuel the growth. Moreover, the widespread availability of smartphones has led to the increasing use of mobile wallet applications, thereby contributing to the growth of the industry.

The rising digitalization in the banking sector has fueled the development of digital payment systems, thus increasing the demand for mobile wallets among others. The rise in digital transactions has reduced bank operation costs, eventually boosting market growth. Several banks, such as Wells Fargo, Bank of America, and others, have seen an upsurge in the usage of digital banking. For instance, in the U.S., bank loan sales accounted for 61% via digital channels in Feb 2021 compared to the previous year.

The growing consumer preference for cashless payment as it offers convenience is anticipated to increase the demand for payment instruments over the forecast period. Moreover, the rising adoption of digital payment among the younger generation further boosts the growth of the market. According to a survey conducted by Business Wire, 71% of the Gen Z population across the globe prefer cashless payment solutions and 68% of millennials have adopted cashless payment methods.

Payments Instruments Market Report Segmentation

The desktop segment accounted for the largest revenue share of over 39.0% in 2021. The growing integration of payment gateway platforms within the desktop by payment instrument solution providers is anticipated to drive the growth of the segment.

The retail & e-commerce segment accounted for the largest revenue share of more than 22.0% in 2021. The growth is attributed to the rising popularity of online shopping and consumers' preference for cashless payment.

North America accounted for the largest revenue share of over 31.0% in 2021. The growing preference for contactless and digital payment across the North American region is expected to boost the growth.

Global Payment Instruments Market Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global payment instruments market report based on type, end-use, and region:

Type Outlook (Revenue, USD Billion, 2017 - 2030)

Desktop

Handheld

Mobile

End-use Outlook (Revenue, USD Billion, 2017 - 2030)

BFSI

Healthcare

IT & Telecom

Media & Entertainment

Retail & E-commerce

Transportation

Others

Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

US

Canada

Europe

Germany

UK

Asia Pacific

China

India

Japan

Latin America

Brazil

Middle East & Africa

Order a free sample PDF of the Payments Instruments Market Intelligence Study, published by Grand View Research.

[rohitpalan]

Blockchain Technology Market Booms with 44.3% CAGR, Set to Reach US$ 181.1 Billion by 2033

 The market for blockchain technology is growing as more and more people use blockchain-based solutions for smart contracts, digital identities, and payments. Throughout the projection period, the BFSI and retail industries’ increased focus will help the blockchain technology market develop even more.

Factors such as elevated venture capital funding and investment in blockchain technology, extensive implementation of blockchain solutions in banking and cybersecurity, large scale adoption of blockchain solutions for payment, smart contracts, and digital identities, and increasing government initiatives contribute to the exceptional growth rate of the blockchain market.

During this decade, Blockchain demand opportunities are likely to proliferate due to the limited physical transactions in the past two years and increasing virtual transactions. The heightened demand from sectors like BFSI and the retail sector will further supplement the demand for blockchain. In addition, the deep penetration of smartphones and affordable internet prices will bolster the global sales of the blockchain technology market over the next few years.

Again, the need for safe and secure transactions will propel the target market growth. The distinctive feature of ‘append only’ has made blockchain immutable and tamper-proof. This makes the technology a safe and secure way to record transactions. The retail sector, particularly brands dealing in the trade of luxury goods, will likely adopt this technology to transform into an effective business model. Thus, the target market is expected to prosper over the upcoming years

“High demand for safe and secure transactions will supplement the global growth of the blockchain technology market over the forecast period,” says an FMI analyst.  

Key Takeaways:

Regulatory uncertainty may impede the global blockchain technology market growth.

The blockchain technology market in Asia Pacific will present significant growth by the end of 2030.

Massive government investments in blockchain network development projects drive the target market growth in China.

By industry, the BFSI segment is expected to account for major share portion due to the adoption of digital ledgers

On the basis of use case, the supply chain management will register heightened demand.

Competitive Landscape 

IBM, Amazon Web Services, SAP, Microsoft, Bitfury Group Limited, Cegeka, Guardtime, CONSENSYS, PixelPlex, LimeChain, Accubits Technologies, SoluLab and Oracle, among others are some of the major players in the blockchain technology market profiled in the full version of the report.

Leading market players are capitalizing on the opportunities available in the current market scenario. These organizations are adopting tactics like product innovation, strategic partnerships, and collaborations to strengthen their market position.

Key Segments of Blockchain Technology Industry Survey

By Solution:

Applications

Middleware

Blockchain Platforms

By Use Case:

Supply Chain Management

Digital Identity

Payments and Money

Trading, Commerce and Exchange

Smart Contracts

Decentralized Finance

Others (Voting, Property Records, etc.)

By Enterprise Size:

Large Enterprises

SMEs

By Industry:

BFSI

Healthcare

Retail and e-commerce

Hospitality and Travel

Government

Media and Entertainment

Transportation and Logistics

Others (Food and Beverages, Real Estate, etc.)

[industrynewsupdates]

Payment Gateway Market Size, Share And Trends Analysis Report

The global payment gateway market is expected to reach USD 132.24 billion by 2030, expanding at a CAGR of 22.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increase in online transactions, coupled with the advancements in payment methods, such as cash pooling, cashless transactions, and token systems, is expected to fuel the market growth. Moreover, rapidly increasing internet penetration across the globe is anticipated to fuel market growth over the forecast period.

Retailers and e-commerce merchants across the globe are focusing on expanding their businesses in other regions and are partnering with payment service providers. These partnerships are allowing merchants to benefit from the opportunities generated by the globalization of the e-commerce sector. Payment gateways help merchants that manage a large volume of transactions automate the complete money transfer process with faster processing speed and error-free computations.

The financial service providers focus on incorporating technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in their payment gateway systems for process automation and fraud detection. Financial service providers are also focusing on developing innovative payment gateway solutions for merchants. For instance, in October 2021, Pine Labs, a software development company, announced the launch of Plural, a payment gateway platform, to offer merchants an integrated solution for all kinds of payments.

Gather more insights about the market drivers, restrains and growth of the Payment Gateway Market

Payment Gateway Market Report Highlights

• In terms of type, the hosted segment is expected to retain its dominance over the forecast period owing to features such as easy payment integration, built-in compliance capabilities, and the ability to integrate more diverse methods

• In terms of enterprise size, the small and medium enterprise segment is expected to witness significant growth over the forecast period. Payment gateways are used by small and medium enterprises to increase their profitability by delivering better customer experiences and reducing transaction costs

• In terms of end-use, the retail and e-commerce sector dominated the market in 2022. Factors such as better shopping experience and increased smartphone penetration are expected to increase the adoption of payment gateway systems in the retail and e-commerce sector

• North America dominated the market in 2022 and is expected to show similar trends in the near future. Growing e-commerce sales and the rapidly changing retail market in North America are the primary factors propelling the demand for fast payment solutions in the region

Payment Gateway Market Segmentation

Grand View Research has segmented the global payment gateway market based on type, enterprise size, end-use, and region:

Payment Gateway Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Hosted

• Non-hosted

Payment Gateway Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• Large Enterprises

• Small & Medium Enterprises

Payment Gateway End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI

• Media & Entertainment

• Retail & E-commerce

• Travel & Hospitality

• Others

Payment Gateway Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o U.K.

• Asia Pacific

o China

o India

o Japan

• Latin America

o Brazil

• Middle East & Africa

Order a free sample PDF of the Payment Gateway Market Intelligence Study, published by Grand View Research.

[amairadutta]

Digital Transformation in Banking and Financial Services Asia

Over the last decade, Asia has witnessed a Digital Revolution in Banking and Financial Services and is quickly adapting to this revolution. This has changed the way people bank and manage their finances, making it simpler and more secure. It is transforming how companies operate and compete in this industry.

The Digital revolution in Asia has also changed the landscape for new players to enter the industry, with the number of fintech companies rising year by year. As a result, Asian economies have advanced significantly, leapfrogging into new technologies. For example, the total amount paid for goods and services in China via mobile payments in 2016 alone was $790 billion, 11 times higher than that in the United States.

Financial technology can also aid potential growth and poverty reduction by enhancing economic development, inclusivity, and efficiency. Fintech can assist millions of people and small and medium-sized businesses gain affordable access to financial services, especially in developing nations. These technologies may potentially help the banking industry achieve significant efficiency benefits. They can, for example, offer cross-border payments that lower risk and costs.

The Banking Sector was one of the first industries to be disrupted by technology, with innovations such as mobile banking apps, net banking, and contactless payments. Additionally, the global pandemic of Covid-19 has accelerated the pace of digitization in Asia as more central banks adopt digital banking to foster better financial inclusion.

With this change came a shift in customer expectations when it comes to customer service- now, customers want more sophisticated services that are available at any time of day or night. According to a McKinsey study on personal financial services, Asian consumers are getting more comfortable utilizing mobile and internet channels for banking services, with usage increasing by more than 35% on average over the last three years. This has led banks to invest heavily in new technologies that can help them meet these demands in Asia.

Several approaches to the Asian banking sector have been utilized to achieve this. Connectivity, automation, innovation, and decision-making are the primary four interconnected, mutually reinforcing factors. Connectivity is the term used to describe how banks may leverage fast-increasing social networks to promote loyalty and disrupt competition. The application of digitalization in process re-design for a better customer experience and more efficient use of resources is referred to as automation. Given the quick speed of change in the sector, innovation relates to how banks should continue reinventing themselves. Decision-making uses big data to make better, quicker, and more accurate judgments about customer purchases and bank decisions about risk.

Conclusion

The digital revolution is transforming the banking and financial services industry in Asia. Digital transformation is driving the change in this industry and has been changing the way people bank and invest, how they manage their finances, how they borrow and lend money, as well as how they get access to financial services.

Author : Exito

For more details visit us : BFSI IT SUMMIT

[winsoftech]

Revolutionizing Financial Inclusion with Winsoft Technologies

In today’s digital age, financial services are no longer confined to traditional brick-and-mortar setups. The integration of technology has paved the way for Digital Financial Services, making banking and financial solutions accessible to a wider audience, particularly in underserved regions. Winsoft Technologies, a pioneer in the BFSI sector, plays a pivotal role in driving this transformation with its innovative digital solutions, including specialized platforms for government initiatives like the Digital Solution for Pradhan Mantri Yojana.

The Rise of Digital Financial Services

Digital Financial Services encompass a broad range of financial products delivered through digital platforms. These services include mobile banking, online payments, digital wallets and investment tools, which enhance convenience, speed and transparency. Winsoft’s robust offerings address the growing demand for seamless digital experiences, providing customized solutions for banks, insurers and wealth managers.

By leveraging advanced technology, Winsoft empowers financial institutions to serve a broader audience while reducing operational costs. Their platforms enable quick transactions, secure data handling and efficient customer onboarding, which are critical in achieving financial inclusion.

Winsoft’s Digital Solution for Pradhan Mantri Yojana

The Indian government has introduced numerous schemes under the Pradhan Mantri Yojana umbrella to promote financial inclusion, support entrepreneurship and encourage savings. Winsoft has developed a specialized Digital Solution for Pradhan Mantri Yojana, ensuring smooth implementation and accessibility for these initiatives.

One of their flagship products, SmartAPY, is designed to simplify the distribution and management of government financial products such as the Atal Pension Yojana. This platform offers a seamless experience for beneficiaries, financial advisors and regulatory bodies, ensuring that the benefits of these schemes reach the intended audience effectively.

By streamlining processes like enrollment, transaction management and compliance reporting, Winsoft’s solutions help financial institutions deliver government schemes with efficiency and transparency.

Key Benefits of Winsoft’s Solutions

Enhanced Accessibility: Winsoft’s digital platforms eliminate geographical barriers, enabling users from remote areas to access financial services.

User-Friendly Interfaces: Their solutions prioritize customer experience with intuitive designs that cater to both tech-savvy and first-time users.

Secure Transactions: Winsoft’s ISO 27001-certified systems ensure robust security measures, safeguarding sensitive financial data.

Scalable Technology: Whether it’s catering to a growing customer base or expanding service offerings, Winsoft’s platforms are designed to scale with ease.

Driving Financial Inclusion

Winsoft’s focus on Digital Financial Services aligns with India’s vision of a cashless economy and broader financial inclusion. By collaborating with government programs and private enterprises, Winsoft has made significant strides in bridging the gap between urban and rural financial ecosystems.

Their digital solutions not only enhance efficiency for institutions but also empower individuals to take control of their finances. Whether it’s through mobile banking, pension management, or investment advisory platforms, Winsoft remains at the forefront of India’s digital transformation journey.

Conclusion

Winsoft Technologies has established itself as a leader in delivering innovative solutions for the BFSI sector. With its expertise in Digital Financial Services and its dedicated Digital Solution for Pradhan Mantri Yojana, the company is driving significant progress toward financial inclusion. By harnessing the power of technology, Winsoft continues to transform the financial landscape, ensuring a brighter and more accessible future for all.

[neha24blog]

Bitcoin Market Segmented On The Basis Of Application, End-Use, Region And Forecast To 2030: Grand View Research Inc.

San Francisco, 11 December 2024: The Report Bitcoin Market Size, Share & Trend Analysis Report By Application (Exchanges, Remittance Services, Payment & Wallet), By End-use (BFSI, E-commerce, Media & Entertainment), By Region, And Segment Forecasts, 2022 – 2030 The global bitcoin market size is expected to reach USD 132.91 billion by 2030, growing at a CAGR of 26.2% from 2022 to 2030, according…

[globalindustrytrends]

Saudi Data Center Market Surges with a 9.7% CAGR – What’s Driving the Growth?

The Saudi Arabian data center server market is projected to earn $784.1 million in 2024 and grow to $1,368.0 million by 2030, with a CAGR of 9.7% from 2024 to 2030. This growth is primarily fueled by expanding global digital clouds, the rising integration of AI and machine learning, increasing digitalization, and the widespread adoption of 5G technology.

Technology and ICT advancements, especially affordable and faster internet, have boosted internet usage in Saudi Arabia. Digital payments and social media are also seeing higher adoption rates, reflecting a shift towards digital lifestyles.

The global data interconnection is further strengthened by numerous internet exchange points worldwide, which enhance data center connectivity. This interconnectedness highlights the critical role of data centers in daily life and the need for improved data security. Enhanced server technologies are being introduced to increase efficiency in data read and write processes.

According to Ericsson, the average mobile data traffic per smartphone in 2023 is 21 GB and is expected to reach 56 GB by 2029. Since the launch of 5G in Saudi Arabia in 2020, the number of cities and provinces with 5G has grown to 51, indicating a rapid adoption of this technology.

Key Insights

Rack Servers: Leading the market with a 45% share in 2024, rack servers are ideal for high-tech applications, featuring internal fans for better airflow and easy maintenance. They are compact, cost-effective, and suitable for small setups needing multiple servers.

Tower Servers: The tower category is the fastest-growing, with a projected CAGR of 10.0%. These servers offer cost-effective solutions for businesses of all sizes, with easy upgrades, fast cooling, and fewer overheating concerns.

BFSI Sector: This sector holds the largest share, at 35% in 2024. Its growth is supported by the increased use of cloud-based solutions, enhancing scalability and security, especially for managing sensitive financial data.

Healthcare Sector: With a CAGR of 10.3%, healthcare is the fastest-growing sector. The rise of wearables and smart devices has driven the demand for secure data storage solutions.

Regional Market: Riyadh leads with a 40% share of the data center server market, housing 14 of the country’s 24 data centers, while Dammam follows, supporting significant data infrastructure.

[communicationblogs]

API Security Market- Forecast 2023–2030

Additionally, the rising number of cybersecurity threats is compelling organizations to adopt API security solutions. APIs are a common target for attackers willing to disrupt services or steal data. As per recent studies, it was estimated that US-based companies have lost somewhere between $12 billion and $23 billion in 2022 alone from API data breaches. Organizations are investing in API security solutions to mitigate these risks and ensure the security of their sensitive data. These factors positively influence the API Security industry outlook during the forecast period.

COVID-19 / Ukraine Crisis — Impact Analysis:

● The COVID-19 pandemic accelerated the adoption of digital technologies and cloud-based solutions, which has led to increased use of APIs by organizations. The raised concerns about security have boosted the demand for API security solutions. On the other hand, the pandemic has caused economic uncertainty, causing some organizations to cut back on IT spending, especially on investment in API security solutions. Also, the shift to remote work has made it difficult for the organizations to secure their APIs in this new environment.

● The conflict between Russia and Ukraine could lead to an increase in cyberattacks, including attacks on APIs. This would boost the demand for API security solutions as organizations look for ways to protect themselves from these threats. Also, the conflict is causing economic uncertainty in the region, which could impact the IT spending and investment in API security solutions. Additionally, the supply-chain disruptions caused by the conflict may impact the availability of IT resources, which could further impact the market.

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Key Takeaways:

● Fastest Growth of Asia-Pacific Region

Geographically, in the global API Security market share, Asia-Pacific is analyzed to grow with the highest CAGR of 25.9% during the forecast period 2023–2030. The increasing adoption of APIs and cloud-based solutions in the region along with the rising number of cyber threats and regulatory compliance requirements are boosting the growth of the region’s API Security Market share. According to Imperva, a cybersecurity firm, APAC governments have taken a variety of approaches to open banking and the advent of open banking has brought about a transformative shift for both businesses and consumers. With the growing demand for these services, banks and fintech companies will increasingly depend on application programming interfaces (APIs).

● Cloud-based Segment to Register the Fastest Growth

In the API Security Market analysis, the cloud-based segment is estimated to grow with the fastest during the forecast period. There are several factors boosting the growth of this segment. Firstly, cloud-based API security solutions can easily scale up or down depending on the changing needs of the organization. It offers greater flexibility than on-premise solutions. Also, cloud-based solutions usually require lower upfront costs.

● BFSI Sector is the Fastest Growing Segment in the Market

According to the API Security Market forecast, the BFSI sector is estimated to register the fastest growth during the forecast period. The financing institutions are increasingly adoption APIs to enable new digital services, such as peer-to-peer payments and mobile banking. These services require strong API security to prevent fraud, protect customer data and comply with regulatory requirements.

According to the Salt Labs State API Security Report Q1 2022, API attack traffic has increased 681 percent in the past 12 months (of publishing the report). Since financial institutions and fintech firms hold tremendous amount of valuable data, they are the perfect target for such attackers.

● Increasing Adoption of APIs

APIs are increasingly becoming a crucial component for modern digital businesses. They allow organizations to share data and services quickly and easily between different systems and applications. However, APIs create new security risks, making API security solutions critical to protect against cyber threats while ensuring regulatory compliance. This is one of the major factors driving the growth of the API Security Market during the forecast period.

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● Growth of Digital Transformation Initiatives

The growth of digital transformation initiatives is analyzed to witness significant growth during the forecast period 2023–2030 as organizations strive to remain competitive in the digital age and keep up with evolving technologies. Data and analytics will increasingly contribute to innovation, helping businesses derive insights and achieve desired outcomes As per IndustryARC’s findings, the global digital transformation market is projected to surpass $1.3trillion by 2027. The shift to software-as-a-service (SaaS) platforms is expected to dominate the digital transformation landscape, enabling easier collaboration, improved productivity, and organizational flexibility. These trends underscore the ongoing need for organizations to adapt, innovate, and leverage digital technologies to drive growth, meet evolving customer expectations, and address market dynamics. APIs can facilitate the integration of various digital tools and services, enabling organizations to effectively implement their digital transformation strategies and leverage the benefits of automation, data analytics, and SaaS platforms. By leveraging APIs, organizations can seamlessly connect different systems, access relevant data, and streamline processes, ultimately accelerating their digital transformation efforts and achieving desired outcomes. The growing adoption of APIs is further set to drive the API security market during the forecast period.

● API Security implementation challenges and risks to impede to market growth

Implementing API security can pose several challenges and risks that organizations need to address. APIs expose endpoints that handle object identifiers, increasing the attack surface and creating potential vulnerabilities for Object Level Access Control issues which can lead to unauthorized access and data exposure. Implementing authentication mechanisms incorrectly can compromise authentication tokens and allow attackers to assume other users’ identities. Weak authentication methods or flawed implementation can lead to unauthorized access and compromised API security. Lack of or improper authorization validation at the object property level can lead to excessive data exposure or manipulation by unauthorized parties. APIs require resources such as network bandwidth, CPU, memory, and storage to fulfill requests. Without proper rate limiting and resource management, malicious actors can launch Denial of Service (DoS) attacks, exhausting resources and disrupting API availability. These technical challenges are set to hinder the API security market growth in the future.

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Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the API Security Market.

The top 10 companies in this industry are listed below:

1. Akamai Technologies (Prolexic, Kona Site Defender)

2. Amazon Web Services, Inc. (AWS Shield, AWS WAF)

3. Apigee Corp. (Apigee Edge, Apigee Sense)

4. Auth0® Inc. (Auth0 API Management, Auth0 WebAuthn Passwordless)

5. Axway Software SA (Axway API Gateway, Axway SecureTransport)

6. Barracuda Networks, Inc. (Barracuda CloudGen Firewall, Barracuda WAF-as-a-Service)

7. Computer Associates International, Inc. (CA API Gateway, CA Single Sign-On)

8. Checkmarx Ltd. (Checkmarx CxSAST, Checkmarx CxIAST)

9. Cisco Systems, Inc. (Cisco Umbrella, Cisco API Security)

10. Cloudflare, Inc. (Cloudflare API Shield, Cloudflare Access)

[pitangent23]

Top Tools and Technologies for Fintech App Developers

In the rapidly evolving world of financial technology, staying ahead of the curve is crucial for success. For Fintech app developers, leveraging the right tools and technologies can make the difference between a mediocre application and a revolutionary one. As Fintech continues to transform the Banking, Financial Services, and Insurance (BFSI) sectors, understanding and utilizing the best available resources is essential. This discussion will explore the top tools and technologies that Fintech App Developers should consider creating cutting-edge applications.

Tools and Technologies Fintech App Developers Should Consider: 

1. Blockchain Technology 

Blockchain technology is revolutionizing the Fintech industry by providing a secure and transparent way to handle transactions. For Fintech app developers, integrating blockchain can enhance security, reduce fraud, and ensure immutable records. Platforms like Ethereum and Hyperledger offer robust frameworks for building decentralized applications (dApps), which are becoming increasingly popular in the Fintech space. By leveraging blockchain, developers can create applications that facilitate peer-to-peer transactions without the need for intermediaries, significantly reducing costs and increasing efficiency. 

2. Artificial Intelligence and Machine Learning 

Artificial Intelligence (AI) and Machine Learning (ML) are indispensable for Fintech app developers. These technologies enable the creation of intelligent systems capable of analyzing vast amounts of data to provide insights and predictions. AI and ML can be used in various Fintech applications, such as fraud detection, credit scoring, and personalized financial advice. Tools like TensorFlow, Keras, and Scikit-learn are popular among developers for building AI and ML models. By integrating these technologies, Fintech apps can offer enhanced security, improved customer experience, and better financial management solutions. 

3. Cloud Computing 

Cloud computing has become a cornerstone for Fintech App Development Services. It provides scalable infrastructure, enabling developers to build and deploy applications quickly and efficiently. Services like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) offer a range of tools and services that cater specifically to Fintech needs, such as data storage, analytics, and machine learning. By utilizing cloud computing, developers can ensure their applications are scalable, reliable, and secure, meeting the high demands of the Fintech industry. 

4. API Integration 

Application Programming Interfaces (APIs) are crucial for Fintech app developers as they allow seamless integration with various financial services and systems. APIs enable applications to communicate with each other, facilitating functionalities such as payment processing, data sharing, and customer authentication. Popular APIs in the Fintech space include Plaid, Stripe, and PayPal, which provide robust solutions for connecting banking systems, handling transactions, and managing user data. Effective API integration ensures that Fintech apps can offer a comprehensive range of services, enhancing their functionality and user experience. 

5. Cybersecurity Tools 

Security is paramount in Fintech app development, given the sensitive nature of financial data. Cybersecurity tools help protect applications from threats such as data breaches, malware, and phishing attacks. Tools like OWASP ZAP, Burp Suite, and Snyk are widely used by Fintech app developers to identify and mitigate vulnerabilities. Additionally, implementing strong encryption protocols, multi-factor authentication, and regular security audits are essential practices to safeguard Fintech applications. By prioritizing cybersecurity, developers can build trust with users and comply with regulatory requirements. 

6. Big Data Analytics 

Big Data analytics plays a significant role in Fintech app development by providing valuable insights into user behavior, market trends, and financial risks. Tools like Apache Hadoop, Apache Spark, and Tableau help developers process and analyze large datasets efficiently. By leveraging big data, Fintech app developers can create applications that offer personalized financial products, predictive analytics, and improved risk management. These capabilities are critical for enhancing customer engagement and making informed business decisions. 

7. Mobile Development Frameworks 

With the increasing use of smartphones for financial transactions, mobile development frameworks are essential for Fintech app developers. Frameworks like React Native, Flutter, and Xamarin allow developers to create high-performance mobile applications that run seamlessly on both iOS and Android platforms. These frameworks offer a wide range of pre-built components and libraries, reducing development time and costs. By focusing on mobile-first development, Fintech apps can reach a broader audience and provide a user-friendly experience. 

Conclusion 

For Fintech app developers, staying updated with the latest tools and technologies is crucial for creating innovative and secure applications. By leveraging blockchain, AI and ML, cloud computing, API integration, cybersecurity tools, big data analytics, and mobile development frameworks, developers can build robust and efficient Fintech solutions. As the Fintech industry continues to grow and evolve, these technologies will play a vital role in shaping the future of financial services. Embracing these tools not only enhances the capabilities of Fintech applications but also ensures they meet the dynamic needs of the BFSI sector.

[rohitpalan]

Explosive Growth in Hyper-Converged Systems Market: From $12.33 Billion in 2023 to $129.38 Billion by 2033

The market for blockchain technology is growing as more and more people use blockchain-based solutions for smart contracts, digital identities, and payments. Throughout the projection period, the BFSI and retail industries’ increased focus will help the blockchain technology market develop even more.

Factors such as elevated venture capital funding and investment in blockchain technology, extensive implementation of blockchain solutions in banking and cybersecurity, large scale adoption of blockchain solutions for payment, smart contracts, and digital identities, and increasing government initiatives contribute to the exceptional growth rate of the blockchain market.

During this decade, Blockchain demand opportunities are likely to proliferate due to the limited physical transactions in the past two years and increasing virtual transactions. The heightened demand from sectors like BFSI and the retail sector will further supplement the demand for blockchain. In addition, the deep penetration of smartphones and affordable internet prices will bolster the global sales of the blockchain technology market over the next few years.

Again, the need for safe and secure transactions will propel the target market growth. The distinctive feature of ‘append only’ has made blockchain immutable and tamper-proof. This makes the technology a safe and secure way to record transactions. The retail sector, particularly brands dealing in the trade of luxury goods, will likely adopt this technology to transform into an effective business model. Thus, the target market is expected to prosper over the upcoming years

“High demand for safe and secure transactions will supplement the global growth of the blockchain technology market over the forecast period,” says an FMI analyst.  

Key Takeaways:

Regulatory uncertainty may impede the global blockchain technology market growth.

The blockchain technology market in Asia Pacific will present significant growth by the end of 2030.

Massive government investments in blockchain network development projects drive the target market growth in China.

By industry, the BFSI segment is expected to account for major share portion due to the adoption of digital ledgers

On the basis of use case, the supply chain management will register heightened demand.

Competitive Landscape 

IBM, Amazon Web Services, SAP, Microsoft, Bitfury Group Limited, Cegeka, Guardtime, CONSENSYS, PixelPlex, LimeChain, Accubits Technologies, SoluLab and Oracle, among others are some of the major players in the blockchain technology market profiled in the full version of the report.

Leading market players are capitalizing on the opportunities available in the current market scenario. These organizations are adopting tactics like product innovation, strategic partnerships, and collaborations to strengthen their market position.

Key Segments of Blockchain Technology Industry Survey

By Solution:

Applications

Middleware

Blockchain Platforms

By Use Case:

Supply Chain Management

Digital Identity

Payments and Money

Trading, Commerce and Exchange

Smart Contracts

Decentralized Finance

Others (Voting, Property Records, etc.)

By Enterprise Size:

Large Enterprises

SMEs

By Industry:

BFSI

Healthcare

Retail and e-commerce

Hospitality and Travel

Government

Media and Entertainment

Transportation and Logistics

Others (Food and Beverages, Real Estate, etc.)

[sinchwhatsapp]

How WhatsApp Business API is Helping the BFSI Sector Revolutionize Communication?

In an ever-changing world, grooming your business is now easy. However, you must use the right strategy to reach your potential and prospective customers. All industries have a positive inclination to bring their business to new heights.  The engagement of BFSI (Banking, Finance service, and Insurance) is crucial for your overall business success.  The importance of this business is quintessential as participating in this business is sure for you.  

But what should you have to do with the convenient and personalized demand? Being grateful for innovative technology and the emergence of Whatsapp API is obvious in meeting customers' needs and reshaping how they communicate with their clients. Do not correlate the normal Whatsapp and whatsapp Business API in the BFSI sector. In this write-up, you will go through the related benefits of WhatsApp and its overall influence on the BFSI sector

1.    With the innovation in technology, almost all businesses are digital variants, and WhatsApp has achieved a strong presence in digital business.

2.    Whatsapp business API provides additional functionalities that would be helpful for large business groups.

3.    By integrating WhatsApp's business API, you can get numerous benefits to improve your business vision.

4.    Improve customer engagement rate through using 2-way communications.

5.    Personalizing your business according to user data, preferences, and engagement rates should not be difficult.

6.    Offer quick customer responses based on predefined messages and WhatsApp Chatbot.

7.    Optimum message security with the inclusion of end-to-end encryption. The message, whatever you type, would be encrypted. As a result, a third party cannot recognize your message.

8.    After all, you are confident that you can come up with a solution for your business.

How can Whatsapp improve the customer's experience in the BFSI sector? Keeping a healthy record of all deals and conversations in written form is obvious for your business. So, users can have basic information about whatever new happens in their business.

1.    Get the update for balance, transaction, and bill. You cannot forget about this, as BFSI sectors are well aware of WhatsApp API's open rate.

2.    BFSI people can get loan applications from their concerned customers and check their status.

3.    Achieve realistic quotes, policy information, and claim assistance.

4.    Send the information about the upcoming bills and payment defaulter.

5.    Schedule interview, appointment, and location sharing

6.    Educated yourself for financial education and increasing literacy

7.     Resolving issues of your questions

Over time, the BFSI sector is trying its best to maintain digital transformation. Do not think how to procure the best record as traditional business has shifted to digital transformation. If you are also looking forward to taking your business to the next level, then you must reach out to a promising WhatsApp API integration support company. Their technical support resolves the issues that you find in integrating WhatsApp API in your business. Feel free to know more information.

[harshnews]

Contactless Payment Market Size, Share, Trends, Growth Opportunities, Key Drivers and Competitive Outlook

"Contactless Payment Market – Industry Trends and Forecast to 2028

Global Contactless Payment Market, By Technology (Radio Frequency Identification, Near Field Communication, Host Card Emulation), Payment Mode (Smartphones, Smartcards, Others), Component (Hardware, Services, Solutions), Operational Frequency (Low Frequency, High Frequency, Ultra High Frequency), Transaction Models (Speedpass, E-Z Pass, Track 1 and Track 2 Data, EMV Card, Offline Stored Value Card), Vertical (Banking, Financial Services and Insurance (BFSI), Retail, Healthcare, Hospitality, Energy and Utilities, Transportation and Logistics, Other Verticals), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028

Access Full 350 Pages PDF Report @

The global contactless payment market is experiencing rapid growth due to the increasing adoption of digital payment solutions, rising demand for secure and convenient payment methods, and the ongoing shift towards cashless transactions. The market is driven by factors such as technological advancements, growing awareness about contactless payments, and the need for faster and more efficient payment options. Contactless payment systems use near-field communication (NFC) technology to enable transactions without physical contact between the payment device and the terminal, providing a convenient and secure way to make payments.

**Segments**

- By Technology: NFC, Radio Frequency Identification (RFID) - By Payment Mode: Contactless Card (Credit/Debit), Contactless Mobile Payment - By End-User: Retail, Hospitality, Transportation, Healthcare, Others

The contactless payment market is segmented based on technology, payment mode, and end-user. The technology segment includes NFC and RFID technologies, which are key enablers of contactless payment solutions. NFC technology has gained significant traction in the market due to its widespread adoption in smartphones and other devices. The payment mode segment consists of contactless cards (credit/debit) and mobile payment solutions, which offer users the flexibility to make quick and secure transactions. Moreover, the end-user segment covers various industries such as retail, hospitality, transportation, healthcare, and others that are increasingly adopting contactless payment solutions to enhance customer experience and streamline payment processes.

**Market Players**

- Visa Inc. - Mastercard Incorporated - American Express Company - PayPal Holdings, Inc. - Apple Inc. - Samsung Electronics Co., Ltd. - Google LLC - Square, Inc. - Alibaba Group Holding Limited - Tencent Holdings Limited

Key players in the global contactless payment market include Visa Inc., Mastercard Incorporated, American Express Company, PayPal Holdings, Inc., Apple Inc., Samsung Electronics Co., Ltd., Google LLC, Square, Inc., Alibaba Group Holding Limited, and Tencent Holdings Limited. These companies are at the forefront of driving innovation inThe global contactless payment market is currently witnessing robust growth driven by the increasing adoption of digital payment solutions worldwide. The market is propelled by various factors such as the rapid advancement in technology, the heightened demand for secure and convenient payment methods, and the ongoing transition towards cashless transactions. Contactless payment systems that utilize near-field communication (NFC) technology have become increasingly popular as they offer a seamless and secure way for consumers to make transactions without the need for physical contact with the payment terminal. Additionally, the growing awareness about the benefits of contactless payments, such as speed and efficiency, has further fueled the market's expansion.

In terms of segmentation, the contactless payment market is categorized based on technology, payment mode, and end-user industries. The technology segment includes NFC and Radio Frequency Identification (RFID) technologies, with NFC being the predominant technology due to its widespread integration in smartphones and other devices. The payment mode segment is divided into contactless cards (credit/debit) and mobile payment solutions, which cater to the diverse needs of consumers looking for fast and secure transaction options. Furthermore, the end-user segment encompasses key industries such as retail, hospitality, transportation, healthcare, and others, all of which are increasingly embracing contactless payment solutions to improve operational efficiency and enhance customer satisfaction.

Key players in the global contactless payment market play a pivotal role in driving innovation and shaping the industry landscape. Companies like Visa Inc., Mastercard Incorporated, American Express Company, PayPal Holdings, Inc., Apple Inc., Samsung Electronics Co., Ltd., Google LLC, Square, Inc., Alibaba Group Holding Limited, and Tencent Holdings Limited are at the forefront of advancing contactless payment technologies and expanding their market presence. These industry leaders leverage their expertise in financial services, technology, and digital platforms to offer cutting-edge solutions that cater to the evolving needs of consumers and businesses alike.

Visa Inc. and Mastercard Incorporated, being among the most prominent players in the market, have established a strong global presence and are continuously introducing**Global Contactless Payment Market, By Technology (Radio Frequency Identification, Near Field Communication, Host Card Emulation), Payment Mode (Smartphones, Smartcards, Others), Component (Hardware, Services, Solutions), Operational Frequency (Low Frequency, High Frequency, Ultra High Frequency), Transaction Models (Speedpass, E-Z Pass, Track 1 and Track 2 Data, EMV Card, Offline Stored Value Card), Vertical (Banking, Financial Services and Insurance (BFSI), Retail, Healthcare, Hospitality, Energy and Utilities, Transportation and Logistics, Other Verticals), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028**

The global contactless payment market is experiencing significant growth propelled by the advancements in technology, increasing demand for secure and convenient payment methods, and the shift towards cashless transactions globally. Contactless payment systems, particularly those utilizing NFC technology, have gained popularity for their seamless and secure transaction capabilities without physical contact between devices. With the prominent players such as Visa Inc., Mastercard Incorporated, American Express Company, PayPal Holdings, Inc., Apple Inc

Countries Studied:

North America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)

Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)

Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)

Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Key Coverage in the Contactless Payment Market Report:

Detailed analysis of Contactless Payment Market by a thorough assessment of the technology, product type, application, and other key segments of the report

Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period

Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth

Comprehensive analysis of the regions of the Contactless Payment industry and their futuristic growth outlook

Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

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[winsoftech]

Transforming Finance With Advanced Technology: Key Solutions 

The financial sector is evolving rapidly, driven by technological innovations that enhance efficiency and customer experiences. For institutions aiming to stay competitive, leveraging tools like wealth management software, digital financial services and a locker management system is essential. These solutions not only streamline operations but also ensure security and compliance, making them invaluable in today's fast-paced financial landscape.

Wealth Management Software: Redefining Investment Strategies

Managing financial assets efficiently is a cornerstone of modern finance and wealth management software is a game-changer in this domain. Designed to help institutions and advisors manage portfolios, track performance and offer tailored investment advice, this software provides:

Comprehensive Solutions: Streamlines the management of diverse asset classes, including mutual funds, equities, fixed income and more.

Enhanced Client Experience: Offers personalized investment strategies based on individual risk profiles and goals.

Data-Driven Insights: Utilizes analytics to optimize portfolio performance and identify growth opportunities.

With the right wealth management tools, financial institutions can build stronger relationships with their clients and achieve greater efficiency.

Digital Financial Services: The Future of Banking

The rise of digital financial services has revolutionized how customers interact with banks and financial institutions. From online banking to mobile payments and digital lending, these services offer convenience, security and accessibility. Key benefits include:

Seamless Transactions: Facilitates quick and secure financial operations, reducing dependency on physical branches.

Improved Customer Engagement: Provides personalized services through AI and machine learning, enhancing customer satisfaction.

Cost Efficiency: Reduces operational costs by automating routine processes.

As digital transformation continues to shape the BFSI sector, adopting advanced financial services is no longer an option but a necessity.

Locker Management System: Security Redefined

For banks and financial institutions, safeguarding valuable assets is a priority and a locker management system ensures just that. These systems use cutting-edge technology to enhance the safety, accessibility and management of lockers. Features include:

Automated Processes: Simplifies locker allocation, rent collection and key management, reducing manual intervention.

Enhanced Security: Incorporates biometric verification and CCTV integration for foolproof protection.

User-Friendly Interfaces: Provides easy access for both customers and administrators.

A robust locker management system not only ensures security but also improves operational efficiency, making it a vital tool for banks.

Why Choose Winsoft Technologies?

Winsoft Technologies, a leader in BFSI solutions since 1993, is at the forefront of providing innovative software for banking, financial services and insurance. Their offerings include state-of-the-art wealth management software, comprehensive platforms for digital financial services and advanced solutions like their locker management system.

Winsoft’s SmartWealth platform empowers financial institutions with integrated tools for managing investments, while their digital financial solutions ensure seamless customer experiences. The company’s commitment to leveraging the latest technology makes it a trusted partner for businesses aiming to transform their financial operations.

Conclusion

In an industry driven by innovation and customer expectations, adopting tools like wealth management software, digital financial services and a locker management system is crucial for success. With its comprehensive suite of products, Winsoft Technologies continues to empower the BFSI sector, delivering efficiency, security and exceptional service to clients worldwide.

[maryyclark]

Leading Forces in the Decentralized Finance Technology Market: Forecasts and Key Player Insights Through 2032

This Global Decentralized Finance Technology research report offers a comprehensive overview of the market, combining both qualitative and quantitative analyses. The qualitative analysis explores market dynamics such as growth drivers, challenges, and constraints, providing deep insights into the market's potential. Meanwhile, the quantitative analysis presents historical and forecast data for key market segments, offering detailed statistical insights.

According to Straits Research, the global decentralized finance technology market size is valued at USD 76.35 billion in 2024. It is projected to reach from USD 97.04 billion in 2025 to USD 660.87 billion by 2033, growing at a CAGR of 27.10% during the forecast period (2025-2033).

Who are the leading companies (Marketing heads, regional heads) in the Decentralized Finance Technology

Compound Labs, Inc.MakerDAOUniswapSushiSwapCurve FinanceAaveSynthetixBalancerBancor NetworkBadger DAODapper Labs, Inc.Moon Pay LimitedHashflowMetaMaskSushiSwap

We offer revenue share insights for the Decentralized Finance Technology Market, covering both publicly listed and privately held companies.

The report integrates comprehensive quantitative and qualitative analyses, offering a complete overview of the Decentralized Finance Technology. It spans from a macro-level examination of overall market size, industry chain, and market dynamics, to detailed micro-level insights into segment markets by type, application, and region. This approach provides a holistic view and deep understanding of the market, covering all critical aspects. Regarding the competitive landscape, the report highlights industry players, including market share, concentration ratios, and detailed profiles of leading companies. This enables readers to understand their competitors better and gain deeper insights into the competitive environment. Additionally, the report addresses key factors such as mergers and acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts. In summary, this report is essential reading for industry players, investors, researchers, consultants, business strategists, and anyone with a stake or interest in entering the market.

Get Free Request Sample Report @ https://straitsresearch.com/report/decentralized-finance-technology-market/request-sample

The report integrates comprehensive quantitative and qualitative analyses, offering a complete overview of the Decentralized Finance Technology market. It spans from a macro-level examination of overall market size, industry chain, and market dynamics, to detailed micro-level insights into segment markets by type, application, and region. This approach provides a holistic view and deep understanding of the market, covering all critical aspects. Regarding the competitive landscape, the report highlights industry players, including market share, concentration ratios, and detailed profiles of leading companies. This enables readers to better understand their competitors and gain deeper insights into the competitive environment. Additionally, the report addresses key factors such as mergers and acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts. In summary, this report is essential reading for industry players, investors, researchers, consultants, business strategists, and anyone with a stake or interest in entering the market.

Request for a Sample PDF of https://straitsresearch.com/report/decentralized-finance-technology-market/request-sample

Global Decentralized Finance Technology Market: Segmentation

By Component

Decentralized Applications (dApps)

Smart Contracts

By Applications

Asset Management

Compliance and KYT

Data Analytics

Payments

Gaming

Others

By Industry

BFSI 

Retail and E-commerce 

Media and Entertainment 

Automotive 

Others

Explore detailed Segmentation from here: @https://straitsresearch.com/report/decentralized-finance-technology-market/segmentation

The report forecasts revenue growth at all geographic levels and provides an in-depth analysis of the latest industry trends and development patterns from 2022 to 2030 in each of the segments and sub-segments. Some of the major geographies included in the market are given below:

North America (U.S., Canada)

Europe (U.K., Germany, France, Italy)

Asia Pacific (China, India, Japan, Singapore, Malaysia)

Latin America (Brazil, Mexico)

Middle East & Africa

This Report is available for purchase on Buy Decentralized Finance Technology Market Report

Key Highlights

To explain Decentralized Finance Technology the following: introduction, product type and application, market overview, market analysis by countries, market opportunities, market risk, and market driving forces

The purpose of this study is to examine the manufacturers of Decentralized Finance Technology, including profile, primary business, news, sales and price, revenue, and market share.

To provide an overview of the competitive landscape among the leading manufacturers in the world, including sales, revenue, and market share of Decentralized Finance Technology percent

To illustrate the market subdivided by kind and application, complete with sales, price, revenue, market share, and growth rate broken down by type and application

To conduct an analysis of the main regions by manufacturers, categories, and applications, covering regions such as North America, Europe, Asia Pacific, the Middle East, and South America, with sales, revenue, and market share segmented by manufacturers, types, and applications.

To investigate the production costs, essential raw materials, production method, etc.

About Us:

StraitsResearch.com is a leading research and intelligence organization, specializing in research, analytics, and advisory services along with providing business insights & research reports.

Contact Us: Email: sales@straitsresearch.com Address: 825 3rd Avenue, New York, NY, USA, 10022 Tel: +1 6464807505, +44 203 318 2846

[industrynewsupdates]

Identity And Access Management Market Size, Share, Growth and Industry Trends, 2030

The global identity and access management market size was valued at USD 15.93 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030. 

Identity and access management (IAM) assures that the appropriate person and job position (identities) in an organization have access to the tools they need to perform their duties. Identity management and access systems allow companies to administer employee apps without logging in as an administrator to each app. Advances in the internet of things (IoT) and artificial intelligence (AI), rising awareness about regulatory compliance management, increasing reliance on digital platforms & automation, and growing adoption of cloud technologies across industries are estimated to drive the market over the forecast period.

The rising cases of fraudulent and cybercrime activities are driving organizations to implement IAM systems as a result of the rapid adoption of the cloud and the advancement of new technologies. IAM uses identity analytics and intelligence to monitor unusual user account activity. In addition, it allows for the deletion of inactive accounts, the detection of policy violations, and the removal of inappropriate access privileges. Hence, the rising enterprise identity and security concerns drive the growth of the industry. Moreover, lower production costs make application administration effortless; the centralizing process time for connectivity and identity modifications increases user reliability, provides easier access to sign-in, signup, and user management processes for application holders, and implements procedures and policies related to user verification and prerogatives.

Gather more insights about the market drivers, restrains and growth of the Identity And Access Management Market

Identity And Access Management Market Report Highlights

• The provisioning component segment accounted for the largest revenue share in 2022. Identity management as a service provides an additional layer of security by identifying, validating, and granting individuals access to a company’s information systems

• The cloud-based deployment segment is anticipated to register the highest growth rate over the forecast period

• The public sector & utilities end-use segment held the highest market share in 2022due to rapid digitalization adoption and increased investment in public sector applications

• The BFSI segment is estimated to grow at the fastest CAGR over the forecast period. The growing popularity of online payments, e-wallets, and digital/retail banking is expected to increase the adoption of these types of solutions across the BFSI sector

• Asia Pacific is expected to register the fastest growth rate over the forecast period due to therising internet penetration, rapid digital infrastructure development, presence of a large number of SMEs adopting such systems, and rising operational digitalization

Browse through Grand View Research's Network Security Industry Research Reports.

• The global service provider network infrastructure market size was valued at USD 139.21 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2028.

• The global next-generation firewall market size was valued at USD 4.33 billion in 2021 and is expected to expand at a CAGR of 11.1% from 2022 to 2030. 

Identity And Access Management Market Segmentation

Grand View Research has segmented the globalidentity and access management market on the basis of component, deployment, end-use, and region:

IAM Component Outlook (Revenue, USD Million, 2018 - 2030)

• Audit, Compliance & Governance

• Directory Service

• Multifactor Authentication

• Provisioning

• Password Management

• Single Sign-On

IAM Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud

• Hybrid

• On-premise

IAM End-use Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI

• Energy, Oil & Gas

• Telecom & IT

• Education

• Healthcare

• Public Sector & Utilities

• Manufacturing

• Others

IAM Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o U.K.

o Germany

o France

o Italy

o Spain

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Latin America

o Brazil

o Mexico

o Argentina

• Middle East & Africa

o UAE

o Saudi Arabia

o South Africa

Order a free sample PDF of the Identity And Access Management Market Intelligence Study, published by Grand View Research.