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(Wireless-NewsWire.Com, December 12, 2018 ) According to a new market research report "Retail Cloud Market by Type (Solution and Service), Service Model (SaaS, PaaS, and IaaS), Organization Size, Deployment Model (Public, Private, and Hybrid Cloud), and Region - Global Forecast to 2021", published by MarketsandMarkets™, The Retail Cloud market size is expected to grow from USD 11.06 Billion in 2016 to USD 28.53 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period.
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The major drivers of this market include the rapid adoption of smartphones, need for compliance & collaboration, and shift to omni-channel experience.
Browse and in-depth TOC on “Retail Cloud Market"
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The professional services segment is expected to have the largest share in the NGFW market in 2017.
Various professional services offered by NGFW vendors are consulting, support and maintenance, training and education, and system integration. The professional services segment is expected to have the largest market share and dominate the NGFW market from 2017 to 2022, as more and more companies are adopting NGFW solutions and services to secure their business infrastructure from advanced threats such as ransomwares, APTs, zero-day attacks, malware, and unauthorized accesses. The market for services segment is growing, as the individuals, SMEs, and large enterprises are concerned about the secured accesses to their networking devices.
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The BFSI vertical is expected to grow at the highest CAGR in the NGFW market
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to contribute to the largest market share in the NGFW market. The increase in digital identities in all size of organizations and the growing trend of BYOD and IoT results in a massive growth in advanced cyberattacks. Attacks such as DDoS, ransomware, advanced APT, and other sophisticated attacks have been seen in the BFSI vertical. To meet the evolving demands of security in the BFSI industry, the players in network security are coming up with innovative solutions to combat the traditional solutions with added features in NGFW solutions. The government and public utilities vertical is expected to dominate the NGFW market with the largest market size in 2017.
North America is expected to contribute to the largest market share, whereas Asia Pacific (APAC) is projected to grow at the highest CAGR
North America is expected to have the largest market share and dominate the NGFW market from 2017 to 2022, due to the presence of a large number of NGFW vendors across this region. Asia Pacific (APAC), on the other hand, offers potential growth opportunities in the NGFW market, as there is a wide presence of SMEs in this region that are turning towards NGFW services to defend against APTs.
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The major vendors covered in the retail cloud market for the study are Oracle Corporation (California, U.S.), Cisco Systems, Inc. (California, U.S.), SAP SE (Wurttemberg, Germany), IBM Corporation (New York, U.S.), Microsoft Corporation (Washington, U.S.), Computer Sciences Corporation (Virginia, U.S.), Fujitsu Limited (Tokyo, Japan), Infor, Inc. (New York, U.S.), Epicor Software Corporation (Texas, U.S.), JDA Software group, Inc. (Arizona, U.S.), and Syntel Inc. (Michigan, U.S.).
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