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Network Security Firewall Market 2022: Technical Signs Point Higher Growth In Coming Years, Report – Allied Market Research

Increase in awareness about data security and privacy presents new opportunities in the coming years. Surge in demand for network security and privacy and rise in number of cyber-based attacks and frauds drive the growth of the global network security firewall market.

Major industry key players – Adaptive Mobile, Amd Telecom, Anam, Cellusys, Mobileum, Netnumber, Orange, Openmind Networks, Sap Se, and Sinch.

The global network security firewall market generated $3.48 billion in 2020, and is estimated to generate $24.34 billion by 2030, witnessing a CAGR of 21.6% from 2020 to 2030.

Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global network security firewall market, and is expected to maintain its dominance by 2030. This is due to rapid advancements in mobile security technologies and huge investments in data security with rise in cyber-attacks. However, Asia-Pacific is projected to witness the fastest CAGR of 23.3% during the forecast period, owing to the rapid advancements in mobile security technologies and several government initiations toward digitalization in developing countries.

Based on component, the solution segment held the highest market share in 2020, accounting for nearly three-fourths of the global network security firewall market, and is estimated to maintain its leadership status throughout the forecast period. This is due to widespread use of detection and threats such as malware or malicious processes that lower the performance of the hypervisor. However, the services segment is projected to manifest the highest CAGR of 22.6% from 2021 to 2030, owing to increased demand for network security and privacy, advances in digital transformation in the telecommunications industry, real-time analysis, and management regulations.

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Based on deployment type, the on premise segment accounted for the largest share in 2020, contributing to more than half of the global network security firewall market, and is projected to maintain its lead position during the forecast period. This is due to advancements in on premise technologies and adoption of new IoT-based techniques and competition among SMEs. However, the cloud segment is expected to portray the largest CAGR of 23.6% from 2021 to 2030, owing to cost efficiency, importance of cybersecurity, and highly automated nature of cloud security.

Covid-19 Scenario

Owing to lockdown and social distancing norms, malls and shops have been closed and people have been relying on online retailers and e-commerce websites for their shopping needs. This burdened the banking and financial sectors to invest enormously in the security of payment gateways to protect increased numbers of online transactions. This led to increased demand for network security firewalls.
In order to protect personal patient data from cybercriminals and implement data analysis tools, the demand for network security firewalls in the healthcare sector increased significantly.
Many organizations adopted the “work from home” culture and these remote working conditions led to increased need for corporate data protection, which in turn, led to implementation of network security firewall.

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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Global Antihypertensive Drugs Market Segmentation,New Opportunities, Top Trends, Rising Demand, Market Players through 2022–2026

Rise in the geriatric population, surge in healthcare expenditure, and rise in prevalence of hypertension across the globe drive the growth of the global antihypertensive drugs market. However, patent expirations of blockbuster drugs hamper the market growth. On the contrary, high growth potential in developing countries is expected to create lucrative opportunities in the near future.

According to the report published by Allied Market Research, the global antihypertensive drugs market accounted for $22,557 million in 2018, and is expected to reach $28,797 million by 2026, registering a CAGR of 3.1% from 2019 to 2026. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, The demand for antihypertensive drugs is on a rise, owing to surge in incidence of hypertension. Furthermore, rise in awareness related to treatment of hypertension across the globe is another factor that fuels the growth of the market.

Key Findings of the Study:

Calcium channel blockers occupied one-fourths share of the global antihypertensive drugs market in 2018.
The ACE inhibitors segment is anticipated to grow with the highest CAGR throughout the forecast period.
The vasodilators accounted for more than one-fifths share of the market in 2018.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.

North America dominated the market

The global antihypertensive drugs market across North America held the largest share in 2018, accounting for more than one-third of the market, owing to the availability of the antihypertensive drugs and rise in prevalence of hypertension due to surge in geriatric population in the region. However, the market across the Asia-Pacific region is anticipated to portray the fastest CAGR of 4.2% during the forecast period, owing to surge in awareness related to use of antihypertensive drugs and the presence of active key players in the region.

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Major market players

Boehringer Ingelheim GmbH
Johnson and Johnson
Merck KGaA
Pfizer, Inc.
Bayer AG
AstraZeneca plc
Takeda Pharmaceutical Co., Ltd.
Sanofi S.A.
Daiichi Sankyo Company
Novartis International AG

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Meningococcal Vaccine Market Opportunities, Top Trends, Rising Demand, Emerging Growth, Business, Future Business Growth By 2022-2026

Increase in outbreaks of meningococcal disease, surge in immunization programs across the globe, and rise in research and development for vaccine technology propel the growth of the global meningococcal vaccine market. However, longer timelines required for vaccine production and high cost associated with the development of vaccines impede the market growth. On the other hand, rise in healthcare spending, increase in research and development for meningococcal vaccines, and growing opportunities in the emerging markets offer lucrative opportunities to the market players.

According to the report published by Allied Market Research, the global meningococcal vaccine market size was valued at $1,935.5 million in 2018, and is projected to reach $4,192.6 million by 2026, registering a CAGR of 9.5% from 2019 to 2026. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, The growth of the global meningococcal vaccine market is due to the surge in adoption of meningococcal vaccines primarily for immunization programs across the globe.

Rise in immunization programs worldwide is the major factor that boost the growth of the meningococcal vaccine market. In addition, factors such as surge in awareness related to the use of meningococcal vaccines and increase in adoption of vaccination across the globe fuel the growth of the meningococcal vaccine market. However, high monetary inputs associated with manufacture of the products restrict the growth of the market. Conversely, growth potential in emerging economies is expected to create lucrative opportunities for the meningococcal vaccine market growth during the forecast period.

Key Findings Of The Study

As per the serotype, the MenACWY vaccine segment is accounted for the highest market share of 54% in 2018 and is anticipated to grow at a CAGR of 11.7% during the forecast period.
On the basis of the vaccine type, the conjugate vaccine segment accounted for the largest market share and is anticipated to be the fastest growing segment at a CAGR of 10.2%.
By end user, the hospitals & clinics segment is expected to grow at the highest CAGR of 11.6% from 2019 to 2026, in terms of value.
Region wise, North America was the major shareholder and accounted for 49.84% of the meningococcal vaccine market share in 2018.

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The key market players analyzed in the report involves Chongqing Zhifei Biological Products Co., Ltd., GlaxoSmithKline Plc, Hualan Biological Engineering Inc., Incepta Pharmaceuticals Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt. Ltd, Walvax Biotechnology Co., Ltd., Bio-Manguinhos, and Bio-Med Pvt. Limited.

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Craft Beer Market Share is Witnessing at a CAGR of 8.0% from 2018 to 2025

According to a new report published by Allied Market Research titled, “Craft Beer Market by Product Type, Distribution Channel, and Age Group: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the global craft beer market size was valued at $108,912 million in 2018 and is projected to reach $186,590 million by 2025, growing at a CAGR of 8.0% from 2018 to 2025. In 2018, Europe accounted for nearly a 43.6% share of the craft beer market.

The rise in demand for different types of beer styles across the key regions, specifically North America, Europe, and Asia Pacific, drives the craft beer market, in terms of value. Microbrewers have been producing and selling beer with characteristic product offerings among its target customers, which has resulted in homogeneous market. This has allowed craft brewers to establish their independent segment in the global craft beer market. For instance, as of 2017, the U.S. had more than 6,266 craft breweries operating in the country accounting to $26 billion retail value sales.

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With the rise in demand for craft beers in several countries, consumers have formed several key non-profit associations to mobilize craft beer association. The key motive behind forming such organizations is to stimulate activity of the first entrants in the craft beer segment, thereby sustaining the demand for specialized products against mass-produced beer. One of the ideal examples of such consumer association is Campaign for Real Ale (CAMRA). The advent of CAMRA inspired similar organizations in other countries, such as PINT in the Netherlands and Humulus Lupulus in Spain.

The significant craft beer market growth has resulted in the growth in the availability of technical equipment and capital allowing brewing on a small scale. Though in the initial stages, entrepreneurs faced major difficulties financing their breweries and finding appropriate equipment where craft brewers regularly used capital equipment designed for other industries. However over the years, the craft brewery segment has witnessed increase in the adoption of upgraded technology and equipment specifically designed for craft brewery.

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In the view of entering into the craft brewery segment, some of the key players in the global beer industry, have been strategizing on initiating important mergers and acquisitions. For instance, AB InBev, acquired some of the major players in the craft beer industry. In the recent years, the company acquired Goose Island (U.S.), Cervejaria Colorado (Brazil), Bogotá Beer Company (Columbia), Birra del Borgo (Italy) as well as Belgian Bosteels brewery, a seventh-generation small family brewery and producer of award-winning Tripel Karmeliet. Recently, Heineken took over the Lagunitas Brewing Company and declared that it would expand this brand into the world’s first global craft beer brand.

The global craft beer market is segmented into distribution channel, product type, age group, and region. The distribution channel is segmented into on-trade as well as off-trade. By age group it is 20-35 years old, 40 – 54 years old and 55 years and above.

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Key Findings of The Craft Beer Market:

In 2018, by product type, the lager segment accounted for around a 56.0% craft beer market share, growing at a CAGR of 7.3% from 2018 to 2025.
In 2018, by distribution channel, the on-trade segment accounted for around a 65.9% r market share, growing at a CAGR of 8.0% from 2018 to 2025.
In 2018, by age group, the 21-35 years old segment accounted for a 52.8% market share and is expected to growth at the highest CAGR of 7.7%.
In 2018, by region, Europe accounted for a prominent market share and is anticipated to grow at a CAGR of 7.7% throughout the Craft Beer market forecast.
The key players profiled for the craft beer market analysis include Anheuser-Busch InBev, Carlsberg Group, Diageo PLC, Heineken N.V., Erdinger Brewery, Lasco Brewery, Oettinger Brewery, Radeberger Brewery, and BAVARIA N.V.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Public Safety LTE Market Size is Projected to Garner $70.44 Billion by 2028 | CAGR 24.9%

Surge in digitalization trends and technological advancements in the field of LTE networks present new opportunities in the coming years. Increase in investments to improve network connectivity and rise in network dependency for crucial public welfare and economical activities drive the growth of the global public safety LTE market.

Major industry players – Dynamics Corporation, Motorola Solutions, Inc., Airbus SE, Harris Corporation, Nokia Corporation, Bittium Corporation, Huawei Technologies Co., Ltd, Hytera, AT&T Inc., and Cobham Wireless.

The global public safety LTE market generated $12.00 billion in 2020, and is estimated to generate $70.44 billion by 2028, witnessing a CAGR of 24.9% from 2021 to 2028.

The report offers detailed segmentation of the global public safety LTE market based on type, infrastructure, services, deployment model, application, end user, and region.

Based on region, Europe accounted for the highest share in 2020, contributing to nearly two-fifths of the total market share, and is expected to maintain its dominance in terms of revenue by 2028. However, Asia-Pacific is expected to register the fastest CAGR of 26.7% during the forecast period.

Based on type, the infrastructure segment held the highest share in 2020, accounting for more than 90% of the total share, and is projected to maintain its lead position throughout the forecast period. However, the services segment is estimated to witness the highest CAGR of 28.3% from 2021 to 2028.

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Based on deployment model, the commercial LTE segment contributed to the highest market share, holding more than half of the global public safety LTE market in 2020, and is expected to maintain its lead in terms of revenue throughout the forecast period. However, the hybrid LTE segment is expected to manifest the largest CAGR of 26.9% from 2021 to 2028.

Based on application, the law enforcement and border control segment held the largest share in 2020, contributing to more than three-fifths of the total market share, and is estimated to continue its lead position by 2028. However, the disaster management segment is expected to garner the highest CAGR of 30.4% during the forecast period.

Covid-19 Scenario:

The increased need for an effective and efficient communication system from public safety authorities led to rise in adoption of public safety LTE during the pandemic to protect the people.
Many market players have been collaborating with government authorities for deploying their networks to ensure safety during the Covid-19 pandemic. Chinese communication equipment manufacturer Hytera Communications Corporation Limited joined hands with the city of Abu Dhabi and local police forces to deploy its Hytera Public Warning System in Abu Dhabi’s mosques to ensure safety of people.
The demand for LTE networks for public safety in mission-critical services increased along with its implementation as a communication standard.

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Malaria Diagnostics Market Top Impacting Factors That Can Win the Industry Globally | Forecast, 2026

Rise in incidence of malaria, increase in healthcare expenditure among people, and surge in adoption of malaria diagnostics tools across the world fuel the growth of the global malaria diagnostics market. On the other hand, poor demand in underdeveloped countries restrains the growth to some extent. Nevertheless, development in emerging economies is expected to create a plethora of opportunities in the near future.

According to the report published by Allied Market Research, the global malaria diagnostics industry was estimated at $728,870 thousand in 2018, and is expected to hit $1,085,106 thousand by 2026, registering a CAGR of 5.1% from 2019 to 2026. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “Growth of the tissue engineering market is attributed to rise in prevalence of chronic disease and trauma emergencies the globe. Furthermore, rise in awareness regarding tissue engineered products, growth in number of R&D activities, and technological development in 3D bio-printing are other factors that contribute toward growth of the market.”

By end user, the clinics segment acquired the major share of the malaria diagnostics market, owing to surge in number of clinics worldwide. In addition, diagnostic centers are expected to exhibit the fastest growth rate during the forecast period due to surge in awareness related to early diagnosis of malaria infection for better treatment.

Key Findings of the Study:

Rapid diagnostic tests segment occupied approximately half the share of the global malaria diagnostics market in 2018.
The molecular diagnostic tests segment is anticipated to grow with the highest CAGR throughout the forecast period.
The hospitals segment accounted for one-thirds share of the market in 2018.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.

LAMEA to maintain the top status till 2026, North America to grow at the third highest CAGR-

Based on geography, LAMEA contributed to 94% of the global malaria diagnostics market revenue in 2018, and is anticipated to maintain the lion’s share till 2026. At the same time, the Asia-Pacific region would showcase the fastest CAGR of 6.1% during the study period. Surge in awareness regarding the use of antimalarial drugs in this region has propelled the growth. However, North America would register a CAGR of 4.1% by 2026.

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Frontrunners in the industry-

Access Bio. Inc.
Siemens AG.
Bio-Rad Laboratories, Inc.
Premier Medical Corporation Pvt Ltd.
Atlas Medical
Biomérieux SA
Meridian Bioscience Inc.
Novartis AG
Abbott Laboratories
Olympus Corporation

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Software Defined Security Market 2022: Explore Top Factors that Will Boost the Global Market by 2030

Advancements in the field of cloud computing and rise in awareness about software-defined security and its benefits are expected to pave the way for lucrative opportunities in the industry. Increase in cyber-attacks during the COVID-19 pandemic and rising applications of cloud and virtualization technologies in modern businesses drive the growth of the global software-defined security market.

Major industry players – Check Point Software, Technologies Ltd., Cisco Systems, Inc., Intel Corporation, VMware, Inc., Symantec Corporation, EMC Corporation, Fortinet, Inc., Juniper Networks, Inc., and Palo Alto Networks.

The global software-defined security market was estimated at $5.3 billion in 2020 and is expected to hit $68.3 billion by 2030, registering a CAGR of 29.5% from 2021 to 2030.

The global software defined security market is analyzed across component, deployment mode, application, end user, and region. Based on component, the solution segment accounted for more than three-fourths of the total market revenue in 2020, and is expected to lead the trail by the end of 2030. The services segment, on the other hand, would grow at the fastest CAGR of 30.6% from 2021 to 2030.

Based on region, North America held the major share in 2020, generating nearly two-fifths of the global market. Simultaneously, the market across Asia-Pacific would manifest the fastest CAGR of 32.3% during the forecast period. The other provinces studied in the report include Europe and LAMEA.

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Based on deployment mode, the on premise segment contributed to more than three-fourths of the total market share in 2020, and is projected to dominate by 2030. The cloud segment, on the other hand, would grow at the fastest CAGR of 30.7% from 2021 to 2030.

Impact of COVID-19 on Software Defined Security Market-

The trend of accessing critical enterprise infrastructure from less secure locations (for example, homes of employees) has led to increase in possibility for cyber-attacks. To prevent this, many organizations invested in stronger software defined security solutions for their employees to ensure the asset of the employees as well as the company.
Software-based firewalls and intrusion detection systems have now become popular and are being extensively deployed into employee’s systems to strengthen the essential security perimeters.

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About Us:

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Modular Data Center Market Size in South America Projected to Reach $2,397.09 million by 2030 – Exclusive Research Report by AMR

South America Modular Data Center Market

Increasing demand for modular data centers by colocation providers is expected to create lucrative opportunities for the key players in the industry. Rise in demand for rapidly deployable & scalable data centers, surge in adoption of cloud services by SMEs, increase in demand for green data centers, upsurge in the expansion of global data center industry.

Key industry player such as – Equinix, Inc., Vertive Group Corporation, Flexenclosure AB, Gemelo, Huawei Technologies Co., Ltd., Cisco Systems, Inc., CenturyLink, Dell Inc., Hewlett Packard Enterprise Company, and IBM Corporation.

The South America modular data center market was pegged at $515.63 million in 2020 and is estimated to hit $2.39 billion by 2030, registering a CAGR of 16.5% from 2021 to 2030.

The modular data center market in South America is analyzed across components, enterprise size, industry vertical, and countries. Based on component, the solution segment contributed to more than three-fifths of the total market share in 2020 and is expected to lead the trail by 2030. The services segment, on the other hand, would cite the fastest CAGR of 17.4% from 2021 to 2030.

Based on organization size, the large enterprise’s segment accounted for nearly two-thirds of the total market revenue in share in 2020, and is anticipated to rule the roost by 2028. The SME’s segment, however, would grow at the fastest CAGR of 17.9% from 2021 to 2030.

Based on country, Brazil held the major share in 2020, generating more than half of the South America modular data center market. At the same time, the market across Chile would cite the fastest CAGR of 21.9% during the forecast period.

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COVID-19 scenario-

Proliferation of emerging technologies such as artificial intelligence (AI), big data, and Internet of things (IoT) has led to significant rise in storage volume requirement, which in turn has impacted the South America modular data center market positively.
This trend is most likely to persist post pandemic as well.

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Application Security Market To witness profit-making growth over 2021–2030– AMR Study

Integration of AI and ML in application security is projected to offer lucrative opportunities in the future. Increasing security breaches targeting business applications, surge in demand for application security in the retail and e-commerce organizations, and strict compliance as well as regulatory requirements for application security fuel the growth of the global application security market.

Rise in the demand for Software as a Service (SaaS)-based application security solutions, the application security market finds a huge opportunity to grow in the next few years. The global application security market generated $5.97 billion in 2020 and is expected to reach $33.94 billion by 2030, growing at a CAGR of 18.7% from 2021 to 2030.

Key industry players – IBM Corporation, Capegemini, MicroFocus, Cisco Systems Inc., Synopsys, Veracode, Whitehat Security, RAPID7, Qualys, and HCL Technologies.

Based on region, the market across North America dominated with lion’s share in 2020, holding nearly two-fifths of the application security market. This is attributed to the proliferation of mobile devices and increase in cloud based networking along with the presence of major key players. On the other hand, the market across Asia-Pacific is projected to exhibit the highest CAGR of 21.3% from 2021 to 2030. This is due to the growth in occurrence of security breaches that targets business applications. In addition, the region is experiencing growth in number of SMEs, which further fuels the growth of the market in this province.

Based on component, the solution segment dominated the market in 2020, accounting for more than three-fifths of the application security market. The rise in demand for mobile application security as well as web application security drives the growth of this segment. On the other hand, the services segment is expected to register the highest CAGR of 20.1% during the forecast period, as it ensures effective functioning of application security software throughout the process.

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Based on on-premise, the deployment segment held the lion’s share in 2020, accounting for nearly three-fifths of the application security market. On-premise-based solutions are known for better maintenance of servers, and continuous system facilitates the implementation of these application security solutions. This factor drives the growth of the segment. Furthermore, the cloud segment would cite the fastest CAGR of 21.3% during the forecast period. Rising number of organizations around the globe are moving their application workloads to the cloud to become more agile, lower costs, and reduce time to market. This in turn boosts the demand for cloud segment.

Covid-19 scenario:

The COVID-19 outbreak has increased the demand for application security solutions. Surge in adoption of work from home trend has boosted the demand for security efforts toward endpoint security.
In addition, the security teams within the enterprises which do not have resources are adopting these solutions to address various web application security issues; thus, augmenting the demand for effective application security solutions.

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Cellular M2M Market 2022 Business Scenario | Ready to Experience Exponential Growth by 2030

Growth in popularity of the industrial internet of things (IIoT) and increased asset monitoring needs after COVID-19 pandemic will open many doors of opportunities to the market players. Robust applications of cellular M2M, improvement in global cellular network connectivity, and increase in its use are the factor driving the global cellular M2M market growth.

The global cellular M2M market generated $10.62 billion in 2020, and is expected to reach $83.23 billion by 2030, manifesting a CAGR of 23.2% from 2021 to 2030.

Major industry players – KORE Wireless Group, AT&T, T-Mobile, Vodafone, Telefónica, S.A., Deutsche Telekom AG, Orange S.A.,Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Aeris Communications India Pvt. Ltd.

The report offers detailed segmentation of the global cellular M2M market based on service, application, end-user, and region.

Based on region, Asia-Pacific contributed to the highest share in 2020, followed by Europe and North America, holding around half of the total market share, and is expected to maintain the lead throughout the forecast period. On the other hand, LAMEA is expected to portray the fastest CAGR of 28.5% during the forecast period.

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Based on end-user, manufacturing accounted for the largest market share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the transportation and logistics segment is estimated to witness the fastest CAGR of 27.4% from 2021 to 2030.

Based on the services, the connectivity services segment contributed to the largest share in 2020, accounting for more than two-thirds of the global cellular M2M market. However, the managed services segment is expected to lead the market with the manifestation of the highest CAGR of 25.8% from 2021 to 2030.

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