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Stringent global legislation and enforcement relating to identity fraud, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), are pushing companies to take extra precautions in securing internal workforce, vendors, and end users’ user accounts. IDaaS solutions are in high demand due to stringent regulatory mandates and data security laws. Organizations must provide access to workers operating remotely while ensuring security enforcement, necessitating the use of identity and access solutions.
Some of the factors expected to drive growth in the Global Identity-as-a-Service (IDaaS) Market include an increase in security concerns in the public and private sectors, demand for cloud-based security technology and services across the IT infrastructure, and the introduction of regulatory and data protection laws. The region’s chemical sector is heavily influenced by rising demand for cosmetics, soaps, and detergents as emerging economies such as China, India, and Japan move toward a consumer-led economy backed by a growing middle-class population. Regionally, Asia Pacific’s strengthening chemical sector is one of the major contributors to increasing demand for flow chemistry in the region. During the forecast period, the industry’s growth is expected to be boosted by increased demand for cost-effectiveness and safety, as well as strict environmental regulations.
Various advantages of flow chemistry reactors over batch reactors are projected to improve industry growth over the forecast period. Increased investment by reactor manufacturers as well as end-users is e expected to drive market growth. The Global Flow Chemistry market has seen decent growth in the historical period, due to its advantages over the conventional chemical practices of having low costs, ease of execution of reactions, small equipment size, and reduced wastage, among other factors.