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Mexico Set to Witness Rapid Surge in Demand for Enterprise Asset Management Solutions in Future The increasing usage of enterprise asset management for the effective utilization of assets and the growing requirement for reducing the operating costs are the main factors fueling the popularity of enterprise asset management solutions in North America. Enterprise asset management solutions for the optimum asset utilization include maintenance agreement management, asset inventory tracking, tracking of invoice charges and meter readings, analysis of funding and invoice information, and the examination of trends in excess charges and invoice payments. With the help of such solutions, the enterprise asset management system creates various dedicated reports that allow the decision-makers to compare the predicted billing and invoice amounts and view each group of assets or asset to identify unusual activities for reducing the incidence of frauds, abuse, and waste. Besides these, enterprise asset management solutions also allow businesses to reduce the operational costs by increasing the return on investment (ROI) from equipment and plant. Read More: https://www.psmarketresearch.com/market-analysis/north-america-enterprise-asset-management-market

Why North America Rules Video Surveillance as a Service (VSaaS) Market? By 2030, the global video surveillance as a service market is predicted to touch $13,584.3 million, since being valued at $2,992.4 million in 2021. The market will grow at an 18.3% CAGR from 2021 to 2030 owing to the rising number of smart cameras and several accompanying sensors, which has resulted in an inclination toward in-band analytics. This combination of variables will augment growth in the market. For instance, there is extensive use of in-band analytics, smart cameras, and other techniques to facilitate operations. The enormous adoption of cloud-based services is creating lucrative opportunities for the video surveillance as a service market. The swift adoption of technology will help the market players to adapt to the shifts in the tastes and preferences of the consumers and the existing market dynamics. Thus, the rising availability of higher frequency bandwidths and various innovations made in cloud computing technology will drive the global market. Users in the surveillance industry are robustly using cloud-based services to cater to their requirements. There is an inherent benefit of swifter response, evidence tampering prevention, and enhanced reach. The surging internet penetration will spur the video surveillance as a service market growth. A market share of at least 35% is held by the hosted category, based on type. This can be ascribed to the extensive utilization of hosted video surveillance as a service in the development of smart cities, and the retail and residential sectors. Moreover, swift-paced internet connectivity, profit-orientation of 5G services, and the surging mobile phone penetration will propel growth in this industry. The lower subscription fees will account for higher sales. Within the vertical segment, the BFSI sector will generate high revenue in the video surveillance as a service market on account of the rising disposable income of the people. The VSaaS provides several benefits including surveillance data access, adding devices flexibility, and lower initial costs. Because of this, these devices are being highly integrated into financial institutions to keep an eye on staff and customers. Furthermore, it also reduces the threats of robberies and kidnapping, enabling the detection of frauds at cash centers to deploy security within banking processes. North America rules the video surveillance as a service market, accounting for approximately 40% of the total revenue. This can be credited to extensive government support, rising threats of terrorism, and surging crime rates in the region. The most usual users of VSaaS are office spaces, restaurants, and hotels. There is an increasing installation of modern surveillance systems by the government in public spaces. In addition, it is also working to expand the usage of these services in the infrastructure and defense industries. Moreover, there is a consistent growth in the European industry because of extensive government support, greater deployment of technologically advanced devices in numerous sectors, coupled with a rising integration of cloud-enabled VSaaS. In addition, APAC will also not lag due to the rising preference for the smart city concept and greater concerns about safety among the citizens in the digitalized era. Thus, the market will boom in the coming years globally. Hence, extensive government support and rising internet penetration will drive the market. Read More: https://www.psmarketresearch.com/market-analysis/video-surveillance-as-a-service-market

Smart Card IC Market Will Reach USD 4,929.8 Million by 2030 The global smart card IC market will touch USD 4,929.8 million, propelling at a 7.1% compound annual growth rate, by 2030. This is mainly because of the growing utilization of financial cards and other safe payment solutions. Moreover, the acceptance of smart IDs in educational organizations and e-governance projects are propelling growth. The growing need for safe payment solutions is one of the major reasons because of why the industry is rising at a high pace. As the count of e-commerce payments is growing, so is the count of scams and frauds. To dodge being a victim of such scams, more-safe solutions are needed, and smart cards are one such solution, as they provide more safety and privacy than other financial data storage or payment solutions. In 2022, based on end users, the telecommunications category dominated the industry with the largest share. This is mainly because of the use of integrated circuits in subscriber identity modules, boosted by the increasing smartphone acceptance. Businesses are not only offering postpaid and prepaid SIMs but also pay-as-you-go variants with minimal paperwork, which makes it simpler for customers to use such cards. Additionally, numerous steps are being taken by the government of several nations to connect individuals in rural areas with the internet or smartphones. Based on the interface segment, the contactless category is rising at a high pace. This is because of the growing utilization of such cards in several establishments and educational organizations as an access control device. They are utilized in biometric arrangements as they convey information in only one way and do not need the Internet to process. Furthermore, because of the COVID-19 epidemic, several establishments shifted to contactless smart cards, as they are a more-sterile choice over touch-based biometric technologies, like fingerprint and palm geometry recognition. During the forecast period, the APAC region is projected to grow at a high rate, mainly because of the rapid industrialization and urbanization in the region. Moreover, the fast acceptance of novel technologies in the healthcare, telecommunications, and BFSI industries is boosting the addition of integrated circuits in smart cards. Furthermore, the count of SIMs being utilized in the region is growing at a high rate, which will drive the industry’s development. Based on type, in 2022, the microcontroller category led the market with the largest share, and the category is also projected to dominate the market in the future as well, as such chips provide better memory storage and safety to information compared to the old-style magnetic-stripe cards. Hence, the growing utilization of financial cards and other safe payment solutions. Moreover, the acceptance of smart IDs in educational organizations and e-governance projects are the major factors propelling the market. Read More: https://www.psmarketresearch.com/market-analysis/smart-card-ic-market