1. Cloud Services
Cloud services provide on-demand access to applications and infrastructure, so businesses don’t have to spend money on hardware and software. They can procure them on a pay-per-use basis and shut them down when they’re no longer needed. These solutions offer a range of benefits, including cost efficiency and scalability.
A typical use case for cloud services is file storage, which allows users to easily share and access files from anywhere with an internet connection, regardless of the device used. This is particularly useful for collaborative work projects, where team members may not be in the same room. Other popular cloud services include email and office applications, like Google Docs and Microsoft 365. These enable employees to be more productive by being able to access their data from any device.
Many cloud services are hosted on public servers, such as Amazon Web Services (AWS) or Azure. However, a growing number of providers offer private clouds for data storage and application deployment. This is especially true of PaaS (platform as a service) and IaaS (infrastructure as a service). These offer more control over applications and infrastructure, while still providing scalability to support fluctuating workloads.
In addition to scalability, some cloud services allow companies to add new functionality without needing to change existing hardware or software. For example, serverless computing is a cloud service that lets organizations add or remove functions to their apps at any time without the need for deploying and configuring servers. Another emerging cloud technology is edge computing, which involves delivering compute resources closer to the source of data. This reduces latency and processing times for data analytics. It’s also more secure because data doesn’t leave the enterprise network.
2. Data Management
Data management services offer an array of benefits for businesses across industries. They increase data visibility to help users find what they’re looking for and improve employee productivity. They also help companies protect sensitive information and ensure compliance with regulations, both locally and internationally. This helps build trust in employees and allows organizations to make informed decisions using up-to-date data.
In addition to providing improved visibility, data management services can help businesses reduce costs by automating repetitive tasks and eliminating duplicate searches. They can also help improve security by reducing the number of unauthorized users accessing sensitive information. They can also improve scalability by allowing teams to work from different locations or even remotely.
The global enterprise data management market is dominated by major players that offer best-in-class technologies for collecting and dispensing business data. These tools seamlessly collect data from disparate sources, integrate it, and cleanse it to produce actionable datasets and insights that are easy for business users to digest and react to. They can also enable enterprises to meet the rising shift in demand for cloud-based data management solutions and support their digital transformation efforts.
The global market is further segmented by software and service type, with software accounting for the larger share of the overall market in 2021. This is primarily due to the increased adoption of advanced data management systems by large and medium-sized enterprises. The banking, financial services, and insurance (BFSI) sector is one of the key growth drivers for the market, with these systems enabling firms to log information on a daily basis, including client details and transaction histories. The quality-as-a-service sub-segment of the global enterprise data management market is expected to grow at a faster rate than other services through the forecast period. This is largely due to the increasing adoption of cloud-based data management services by BFSI businesses.
Security services offered in the market ensure that organizations applications are protected from malware, viruses and cyber-attacks. Increasing threat of cyberattacks, rise in digitalization and increased use of mobile devices among small and medium size enterprises are boosting the demand for security solutions globally. COVID-19 pandemic also transformed the approach of a company’s management towards cybersecurity which is expected to propel the security as a service market in the long run.
Managed security services providers are offering a variety of services such as remote monitoring and detection, managed firewall, CASBs, data protection and many more. These services are offered on a subscription basis and help in reducing the overall security cost of an organization.
Healthcare sector holds a significant share in the managed security services market and this trend is likely to continue for the next few years. Post-pandemic, healthcare organizations are looking for managed security services providers to help them in preventing cyberattacks and protect patient-sensitive information. These services include cloud-based threat intelligence, monitoring and protection against cyberattacks and secure access for remote workers.
Security-as-a-Service (SASE) is a new market segment defined by Gartner and acknowledges the need for best-in-class, single-vendor security platforms that provide consistent policy, zero trust access and a fast digital experience. These SSE platforms are often positioned as an alternative to traditional security offerings such as SIEM, SWG, CASB, and DLP that are procured as standalone solutions and sold separately.
Security as a service is an ideal solution for the rapidly growing number of small and large companies with limited in-house IT resources. It also helps in reducing the time to detect and respond to cyberattacks. Increased focus on data security, especially among small and medium size enterprises in the region is further propelling the growth of security as a service.
4. Data Analytics
Data analytics involves examining raw data and analyzing it to make conclusions about that information. This process can help a business optimize its performance, increase revenue or make more strategically-guided decisions. It can also identify trends in consumer behavior and improve the efficiency of a business model.
The data analytics services market is a large and diverse industry with many different components. The software segment accounts for the largest share of the market, with solutions such as business intelligence, customer relationship management and compliance analytics. The hardware segment includes a range of products, including database servers, storage systems and networking equipment. The service segment provides implementation and consulting support. The market is dominated by large enterprises, but is expected to showcase prominent growth for small and medium-sized enterprises (SMEs) during the forecast period.
This market is driven by the need for organizations to analyze massive amounts of structured and unstructured data, and by increasing awareness about the importance of big data. The use of advanced technologies, such as predictive modeling and machine learning, in the analysis of data sets can help companies gain insights into their customers’ needs.
The services offered in this market include data visualization, data discovery and data integration. In addition, these services can be provided in the cloud or on premises. Major vendors in the data analytics services market include IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE and TIBCO Software Inc. Other key players include Tableau Corporation, Alteryx, SiSense and Splunk Inc.
Computer networking is the practice of connecting computers, servers, printers and an ever-expanding array of internet of things (IoT) devices to one another. It is an essential function for businesses, households and consumers.
Networking includes both the physical infrastructure that carries data, such as switches and routers, as well as the software that operates such equipment. It is categorized by environment and scale, such as local area networks (LANs), campus or wide area networks (WANs) or data center networks. Networking is also classified by approach, including approaches such as software-defined networking (SDN) or overlay networks.
The market for networking as a service is expected to grow at the highest rate between 2023 and 2030. This is primarily due to the growing number of small and medium-sized enterprises adopting networking as a service solutions. These services allow SMEs to reduce their infrastructure costs, while providing access to high-end new technology.
Increasing investments and collaborations by leading players in the market to automate networking services aids the growth of this market. For example, in April 2023, CradlePoint, a subsidiary of Ericsson, acquired Ericom Software to boost its secure access service edge and zero trust offerings for hybrid 5G and wireline environments.