Global Electric & Hydraulic Wellhead Drives for Onshore Application Market Segmentation and Forecast By 2028 End, FMI

The global electric & hydraulic wellhead drives for the onshore application market was calculable to be around US$ 111.7 million in 2017 and is predicted to register a CAGR of 8.4% over the forecast.

The estimated value of the international electrical & hydraulic Wellhead Drives for Onshore Application Market in 2017 is US$ 111.7 Mn, with a CAGR of 8.4 percent expected to reach US$ 251.3 Mn by the end of 2028.

The new market report from Future Market Insights examines the electrical & hydraulic Wellhead Drives for the Onshore Application Market and provides critical market insights for the next ten years.

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Consistent with the report, the electrical Wellhead section by product sort is expected to dominate the market accounting for over ninety p.c share within the overall market price by 2028 end, registering a CAGR of 9.8 % throughout the forecast amount.

Global Electric & Hydraulic Wellhead Drives for Onshore Application Market: Factors Impacting Revenue Growth     

It is estimated that the count of onshore wells will increase to cope with the increasing demand for oil & gas from various end-use sectors, which in turn is expected to have a positive impact on the growth of the Electric & Hydraulic Wellhead Drives market as these wellheads are largely used for onshore oil production.

Though the increase in the good count is estimated to grow slowly and steadily — rising from 59,000 in 2015 to over 69,000 by 2021 end — the sales of Electric & Hydraulic Wellhead Drives is expected to increase at a significant rate due to the growing application of PCP systems to pump out water and oil. In shallow wells, relatively more PCP systems are used in comparison to deep wells.

The demand for wellhead drives is growing rapidly in North America, especially in Canada, which can be attributed to the large number of wells using Progressing Cavity Pumps (PCP) and thereby leading to the growing demand for Wellhead Drives, as on an average one PCP System uses one Wellhead Drive. It is estimated that Canada has an installed base of over 42,000 Progressing Cavity Pumps, which is nearly 62.7% of the global installed base of PCPs. This makes Canada one of the prominent users of PCPs and Wellhead Drives.

The replacement rate of Electric & Hydraulic Wellhead Drives is usually between 7-10 years, which means that end-use companies replace Electric & Hydraulic Wellhead Drives after every 7-10 years. This restricts the new unit sales of Electric & Hydraulic Wellhead Drives.

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Global Electric & Hydraulic Wellhead Drives for Onshore Application Market Forecast

Based on the Product Type segment, the Electric Wellhead drive segment is anticipated to play a crucial role in building global market revenue. This segment is expected to register a CAGR of 9.8% during the forecast period. Based on region, Latin America is projected to dominate the global Electric & Hydraulic Wellhead Drives for Onshore Application Market throughout the forecast period in terms of revenue growth.

The regional market in Latin America is expected to expand at a CAGR of 9.5% during the forecast period. The market in North America is anticipated to register a CAGR of 6.2% during the forecast period. Both Latin America and North America are expected to register relatively faster growth during the forecast period.

Global Electric & Hydraulic Wellhead Drives for Onshore Application Market: Competitive Landscape

Some of the players reported in this study on the global Electric & Hydraulic Wellhead Drives for Onshore Application Market include Schlumberger Limited, NETZSCH, GE Electric, Weatherford International, National Oilwell Varco, Inc. among others. Industry players, over the recent past, have been channelizing efforts towards acquiring other regional/country players.

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Sales Of Industrial Magnetrons Are Estimated To Reach Approximately US$ 5.82 Bn In Revenues By 2026-End

Future Market Insights’ recently compiled report projects the global industrial magnetron market to exhibit an above-average growth over the forecast period (2022-2026). Global sales of industrial magnetrons are estimated to reach approximately US$ 5.82 Bn in revenues by 2026-end.

China is forecast to account for a significant share in the Asia Pacific Industrial Magnetrons Market between 2022 and 2026, reveals FMI.

In addition, growing emphasis on the launch of miniaturized and lightweight magnetrons by the market players in the country is estimated to assist the APEJ market to account for around 19.1% of the demand share through 2022.

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Growing Emphasis on Reducing Operational Costs Leading to Development of Advanced Industrial Magnetrons

Magnetrons serve different purposes subject to objectives of various end-use industries. For example, industrial magnetrons are utilized for moisture-reduction in the pharmaceutical industry, and for enabling different types of coatings to plastic and rubber materials in the coatings industry. Adoption of industrial magnetron has witnessed a steady rise in the recent past. However, growing emphasis on minimizing the operational costs has encouraged manufacturers in making advancements in industrial magnetrons.

Demand for industrial magnetrons is further influenced by a slew of microeconomic and macroeconomic factors such as overall growth prospects of the global industrial sector, government policies, technological evolutions and growing demand from end-users.

Heating and drying process underpins most of the demand for magnetrons in many industrial settings. Requirement for industrial magnetrons in plasma generation has therefore gained a steady increase since the recent past.

North America to Lead the Market in Terms of Revenues

North America will continue to lead the global industrial magnetron market, in terms of revenues. Revenue share of Europe and Asia-Pacific excluding Japan (APEJ) will also remain high in the market. The industrial magnetron market in APEJ will register the highest CAGR through 2026, followed by North America. Middle East & Africa, Latin America and Japan will remain least lucrative markets for industrial magnetron.

Based on product type, continuous wave industrial magnetrons will continue to dominate the market, with revenues projected to account for over two-third market share by 2026-end. Sales of continuous wave industrial magnetron will register an impressive expansion through 2026. Demand for pulsed industrial magnetron will remain relatively lower in the market.

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Industrial Magnetrons with X band will Remain Sought-after in the Market

On the basis of operating frequency, industrial magnetrons with X band will remain sought-after in the market, trailed by Ku & Ka Band and C band. Sales of industrial magnetrons with Ku & Ka band will reflect the fastest expansion through 2026, closely followed by those with X band.

Prominent players in the market are increasingly focusing on the development of energy-efficient industrial magnetrons. Key market participants identified by the report include STT International Limited, MDP Components, Richardson Electronics, Ltd., CPI International Inc., Teledyne E2V Limited, MUEGGE GmbH, L3 Technologies, Inc., Hitachi Ltd., Toshiba International Corporation, and Panasonic Corporation.

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Global Gasoline Generator Market Is Estimated To Surpass A Valuation Of US$ 768.8 Mn In 2022

The global gasoline generator market is expected to be worth $768.8 million in 2022, with a healthy growth rate of 3.7 percent from 2022 to 2029. The expanding construction industry is a major driver of this expansion. The global market for gasoline generators is highly competitive, and small players in the market must compete to gain market share.

The global gasoline generator market is expected to grow significantly during the forecast period, owing to several dynamic factors such as rising demand from the residential and commercial sectors for running small power loads during power outages, according to the report’s findings.

To maintain a competitive advantage, businesses must prioritise product innovation, as new product innovations can provide significant market growth opportunities. Portable gasoline generators with reduced noise and weight can be advantageous; product development at an affordable price range can result in high penetration into the residential sector.

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North America to Capture Significant Market Share

There has been substantial growth in the U.S. construction industry over the recent past. As per the U.S. Census Bureau, there has been significant growth in non-residential construction spending. It is also estimated that this particular segment will grow rapidly over the forecast period.

With the growing construction industry, rise in the preference for portable generators (for standby backup power) is expected to surge the demand for gasoline generators over the forecast period. Since 2010, there has been a continuous rise in the U.S. non-residential construction spending with an annual growth rate of ~5-6%, which is likely to boost the demand for gasoline generators in upcoming years.

Commercial Sector to Remain Key Consumer of Gasoline Generators

A robust market trajectory is foreseen for the gasoline generator market. Commercial and residential sectors spearheading usage of portable generators are likely to remain prominent end users of gasoline generators.

  • Gasoline generators that produce power output in the range of 3,000 watts to 5,000 watts are projected to register prominent growth in upcoming years. Gasoline generators that come under this category are utilized in several end-use sectors in case of power failures.
  • Portable gasoline generators are most-widely utilized generator sets across the globe, which provide electricity by running a gasoline-powered engine. Portable generators are not permanently installed and can be moved from one place to another easily. Portable gasoline generators are available in various sizes depending on the power output.
  • Gasoline generators are primarily utilized for standby backup power applications across several end-use sectors, such as residential, commercial, industrial, and agricultural, among others. The standby backup power application accounts for a major share in the gasoline generator market.

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Gasoline Generator Market: Vendor Insights

The report titled gasoline generator market highlights some of the key market participants, who are well-known market players and have established themselves as prominent stakeholders in the global gasoline generator market.

Some of the examples of key players in the global gasoline generator market are Kohler Co., Honda Motor Co., Ltd., Generac Power Systems, Inc., SGS Engineering (UK) Ltd., Hyundai Power Equipment, Stephill Generators Ltd., Yamaha Motor Co., Ltd., and Champion Power Equipment, Inc., among others.

In terms of market structure and tier analysis, the global market for gasoline generators is mostly fragmented, with top 3 players holding 25%-30% share in the global market. This is mainly due to the large number of Chinese and other players involved in the manufacturing of gasoline generators. Significant players in the market are focusing on mergers and acquisition activities, along with new product launches to expand their global reach.

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Smart Building Solutions Market 2022 Expectations & Growth Trends Highlighted Until 2032

The global smart building solutions market size is anticipated to grow from US$ 59,733 million in 2022 to reach US$ 1,90,002.1 million by 2032, registering a CAGR of 12.3% during the forecast period.

Need of lower operating cost, lower CO2 emissions and scarcity of energy resources are the factor which increases the demand for smart building solutions. The energy monitoring is one of the major solution which help to monitor the energy consumption rate and optimize the energy usage.

As the smart building market comes under automation and control sector which is rapidly growing it leads to the growth of smart building solution market which is largely driven by electronic security & safety segment due to increasing demand for CCTV and biometrics based security systems in the buildings.

In Heating, Ventilation and Air Conditioning (HVAC) building, increasing the demand for thermostat, zone and climate control, sensors and keypads which supports the growth of smart building market, while emerging carbon dioxide & combine sensors will have significant impact on overall smart building market.

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Smart Building Solutions Market: Drivers and Restraints 

The initiatives taken by government for building automation is the primary driver in the global smart building solutions market. In addition to this, the concept enables an efficient energy management system of a building which reduces the wastage of energy consumption. Therefore, it drives the demand for smart building solutions.

Furthermore, the connectivity achieved between devices on internet, with the introduction of IoT, will enhance the overall efficiency of smart building. Henceforth, the introduction of IoT will drive the overall growth of global smart building solutions market. The on-going innovation and research for optimizing energy consumption and serving high degree of automation in buildings represents the increasing demand for global smart building solutions market.

High installation and manufacturing cost are the major factors restraining the growth of smart building solutions market.

Global Smart Building Solutions Market Trends 

Minimizing the usage of wire and implementing a wireless connection for automation of a building is a key tend followed by major vendors. The trend is majorly implemented in Residential building for integrating various connected devices with each other.

Global Smart Building Solutions Market Technology Regional Overview 

Europe dominates the global Smart Building Solutions market as the government has taken many initiatives in the region, for the same. Europe is expected to be followed by North America and APAC with the increasing awareness in the regions for adopting smart building solutions in their buildings. The availability of resources, innovations in IT and increasing adoption of smart building solutions concept is, furthermore, encouraging new players to step into the market.

Global Smart Building Solutions Market Key Players 

Some of the major Smart Building Solutions global players include ABB, Siemens AG, Intel Corporation, Honeywell International Inc., Schneider Electric, Legrand SA, Panasonic Corporation, BuildingIQ, Cisco Systems Inc. and DELTA CONTROLS

The report covers exhaustive analysis on

  • Global Smart Building Solutions Market Segments
  • Global Smart Building Solutions Market Dynamics
  • Historical Actual Market Size, 2012 – 2016
  • Global Smart Building Solutions Market Size & Forecast 2017 to 2027
  • Supply & Demand Value Chain for Smart Building Solutions Market
  • Global Smart Building Solutions Market Current Trends/Issues/Challenges
  • Competition & Companies involved in Smart Building Solutions Market
  • Smart Building Solutions Technology
  • Value Chain of Smart Building Solutions
  • Global Smart Building Solutions Market Drivers and Restraints

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Smart Building Market: Market Segmentation 

Global Smart Building Solution Market can be divided into the following segments – based on type and by end-user

Segmentation on basis of Solutions for Smart Building Type Market:

  • Building Management System
  • Electricity Control
  • Air Conditioning and Ventilation System
  • Security Solutions
  • Audio and Visual Effects

Segmentation on basis of End-User forSmart Building Solutions Market:

  • Residential
  • Commercial
  • Government
  • Industrial
  • Manufacturing
  • Others

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Streaming Analytics Market Growing at a CAGR of 20.8% During the Forecast Period 2022 – 2032

Streaming Analytics Market is estimated at US$ 86.5 Billion in 2032, surge at a vigorous 20.8% CAGR during the forecast period 2022-2032.  Organizations are producing vast volume of data in a myriad of format. Formerly, organizations were engaged in capturing and storing data, then used to extract insights from the data warehouse later.

Now a days, organizations have been realizing the benefits of real-time data analytics and started adopting streaming analytics increasingly in their operations. Streaming analytics help organization in generating more revenue by increasing operational efficiency and cutting preventable losses.

Streaming Analytics find their applications in real-time marketing and customer engagement, algorithmic trading, real-time patient monitoring system, intelligence and surveillance, supply chain optimization and procurement, oil & gas operations management, IT and network monitoring, real-time call center analysis, vehicle tracking and route monitoring, and other applications.

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Global Streaming Analytics Market: Drivers

Increasing need for advanced solutions to take real time decisions on dynamic business events is accelerating the deployment of streaming analytics in SMEs and large enterprises. In addition, growing adoption of internet of thing (IoT) across vertical is likely to expand demand for data streaming solutions which in turn is expected to fuel the growth of streaming analytics market across globe, during the forecast period.

Global Streaming Analytics Market: Restraints

Data security and privacy concerns, and low return on investment are some of the factors that are expected to hinder the growth of streaming analytics market to some extent.

Global Streaming Analytics Market: Competitive Landscape

The global streaming analytics market is expected to witness a considerable growth in CAGR during the forecast period from 2015 to 2025.Key players in the global streaming analytics market focus on introducing new products and services, collaborations and acquisition & mergers in order to enhance customer base and outperform competitors.

Global Streaming Analytics Market: Key Players

Some of the major players identified in the global streaming analytics market are IBM Corporation, Tibco Software Inc., Oracle Corporation, Microsoft Corporation, Vitria Technology Inc., Software AG, Informatica Corporation, SAP SE, SAS Institute Inc. and Sqlstream Incorporated etc.

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The report covers exhaustive analysis on:

  • Streaming Analytics Market Segments
  • Streaming Analytics Market Dynamics
  • Historical Actual Market Size, 2012 – 2014
  • Streaming Analytics Market Size & Forecast 2015 to 2025
  • Supply & Demand Value Chain
  • Streaming Analytics Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain
  • Streaming Analytics Market Drivers and Restraints

Regional analysis for Streaming Analytics Market includes

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Streaming Analytics Market

Global streaming analytics market is classified into vertical, service, enterprise and region.

Vertical wise, the global streaming analytics market is segmented into

  • telecom sector
  • media & entertainment sector
  • healthcare sector
  • public sector
  • financial services
  • insurance (BSFI)
  • other sector

On the basis of service the global streaming market can be segmented into

  • maintenance service
  • consulting
  • integration service
  • small-medium enterprises (SMEs)
  • large enterprise

Region  wise, the global streaming analytics market is segmented into

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East and Africa (MEA)

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AI Platform Cloud Service Market is to be Valued at US$ 30.5 Billion from 2022 to 2032

The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the AI Platform Cloud Service Market. Demand for global AI platform cloud services is projected to be US$ 8.3 billion in 2022 and to increase at a CAGR of 20.3% to US$ 30.5 billion between 2022 and 2032. Increased need for smarter corporate operations is credited with growth.

The leading cloud services providers such as Oracle Corporation, Microsoft, IBM, and others are creating a new technological advancement in cloud services they are offering such as AI platform cloud service. The AI platform cloud service vendors are integrating cloud platform and AI as well as machine learning in the cloud services for delivering a today’s modern cloud-based applications to the customers.

The vendors of AI platform cloud service are more focused on advancements in AI platform cloud service by adding machine learning to it, and such factors are creating potential market opportunities for AI platform cloud service.

Increasing popularity of cloud-based services across different enterprises is ultimately creating a need for innovative cloud services for sustaining in changing scenarios of technological solutions. Due to such advancements, the AI platform cloud service is emerging as a new trend to sustain in changing market.

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Global AI Platform Cloud Service Market: Industry Key Players

Examples of some of the key players in the global AI Platform Cloud Service market include Oracle Corporation, Microsoft Corporation, IBM, Google LLC, Infosys Limited, Amazon Web Services, Wipro Limited, Baidu Inc., Cloudera Inc., Informatica LLC,   and others. AI platform cloud service vendors are continuously focusing on innovations in their products.

This strategy is followed by key vendors of AI platform cloud service for sustaining themselves in the increasing global competition. In addition to this, AI platform cloud service vendors are focusing on integrating new and advanced technologies to deliver an outstanding service to the customers such as chat-bots, speech recognition, and others.

Global AI Platform Cloud Service Market: Segmentation

The global AI platform cloud service market is segmented on the basis of industry, enterprise size, and region. The segmentation based on industries includes the industry vertical which are using the AI platform cloud service for application development or data analysis and others.

The industry segmentation includes travel and tourism, IT & telecommunication, manufacturing, retail, and others. On the basis of enterprise size, the AI platform cloud service market is segmented into small, medium and large enterprises. On the basis of the region, the AI platform cloud service market is segmented into segmented into North America, Latin America, Europe, Eastern Europe, CIS & Russia, Japan, and MEA.­

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Queries Solved

  • What is the size of the overall AI Platform Cloud Service Market in the Technology Market and its segments?
  • What are the key segments and sub-segments in the market?
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  • What are the attractive investment opportunities within the AI Platform Cloud Service Market in the Technology Market?
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  • What are the key market players focusing on?
  • What are the strategies for growth adopted by the key players in AI Platform Cloud Service Market in the Technology Market?
  • What are the recent trends in AI Platform Cloud Service Market in the Technology Market? (M&A, partnerships, new product developments, expansions)?
  • What are the challenges to the AI Platform Cloud Service Market in the growth of the Technology Market?
  • What are the key market trends impacting the growth of the AI Platform Cloud Service Market in the Technology Market?

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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Alarm Management System Market is Expected to Push Sales in the Market at a 11-13% CAGR Over The Forecast Period 2022 – 2032

Alarm Management System Market : Nowadays, alarm overload has become a common issue in most manufacturing plants. The reason behind this overload is formerly integrated independent systems for effective operations with fewer operators. By 2032, it is anticipated that alarm management system sales would total US$ 2 Bn. Sales in the market are anticipated to grow at a CAGR between 11 and 13 percent over the projected period due to rising need to handle alarm overload in manufacturing plants.

Thus, each operator has to deal with more alarms by monitoring a wider area. Alarm management systems help customers by rationalizing these alarms in manufacturing plants. Alarm management systems help to overcome the situation of inaccurate alarms, disabled alarms and alarm floods. Hence, alarm management systems help to increase situation awareness, which further positively impacts plant production and safety.

Alarm management systems are generally used for grouping, classifying alerts, prioritizing and enabling event notifications used in SCADA (Supervisory Control And Data Acquisition). Alarm management systems function in a similar manner in other applications as well, such as in medical care and IT.

Alarm management systems reduce fatigue and improve focus and readability for the individuals monitoring SCADA. In complex factory automation and industrial controls systems that use SCADA, alarm management systems reduce the use of alarms for events. These systems also prioritize events and alarms and then route them towards those in need of a response.

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Global Alarm Management System Market: Dynamics

Alarm management systems reduce alarm flooding through near real time alerts, which is one of the major factors driving the growth of the market during. That apart, these systems help to keep processes safe and profitable through a DCS (Distributed Control System) which maintains and creates a master alarm database. Thus, this factor will also propel the growth of the alarm management system market over the projected period. Furthermore, these systems improve decision support, operator effectiveness and situation awareness.

This is another factor that will also contribute towards the growth of the alarm management system market during the forecast period. Increasing need to conform with current industry standards and best practices, such as EEMUA 191, ISA 18.2 and IEC 62682, will also create demand space for alarm management systems during the forecast period.

However, some implementation and technical challenges, such as configuration issues, redefining KPIs (Key Performance Indicators) and alarm philosophy development, are expected to restrain the growth of the alarm management system market during the forecast period. Some other factors, such as implementation of dynamic alarming, need to keep alarm rationalization up to date, etc. are also likely to hinder the growth of the alarm management system market during the forecast period.

Global Alarm Management System Market: Competition Landscape

Key Vendors

Some of the key vendors in the alarm management system market are PAS Global, LLC, exida.com LLC, Honeywell International Inc., KLAS Research, Yokogawa India Ltd., Vocera Communications, Ascom Holdings, GE Healthcare, Masimo Corporation, Koninklijke Philips and Spok, Inc.

Global Alarm Management System Market: Regional Outlook

Geographically, the alarm management system market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA) and Japan.

North America is anticipated to be the major revenue generating region in the global alarm management market owing to the increasing usage of alarm management systems for clinical purposes. Moreover, increasing demand for integrated healthcare IT systems to ensure reliability and various initiatives being taken by government bodies to reduce alarm fatigue are other important factors driving the growth of the alarm management system market in this region.

The alarm management system market in Asia Pacific is anticipated to grow at a significant rate owing to the growing usage of alarm management systems in manufacturing industries in this region. Countries, such as China, Japan and India, are expected to drive the growth of the market in this region.

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The report covers an exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Historical Actual Market Size, 2013-2017
  • Market Size and Forecast 2018 to 2028
  • Supply and Demand Value Chain
  • Current Trends/Issues/Challenges
  • Competition and Companies Involved
  • Technology
  • Value Chain
  • Market Drivers and Restraints

Regional analysis for the global Alarm Management System market includes:

  • North America Alarm Management System Market 
  • U.S.
  • Canada
  • Latin America Alarm Management System Market 
  • Argentina
  • Mexico
  • Brazil
  • Rest of Latin America
  • Western Europe Alarm Management System Market 
  • Germany
  • France
  • U.K.
  • Spain
  • Italy
  • Nordic
  • Benelux
  • Rest of Western Europe
  • Eastern Europe Alarm Management System Market 
  • Poland
  • Russia
  • Asia Pacific Alarm Management System Market 
  • India
  • ASEAN
  • Australia and New Zealand
  • Rest of SEA and Others of APAC
  • Japan Alarm Management System Market 
  • China Alarm Management System Market
  • Middle East and Africa Alarm Management System Market
  • GCC Countries
  • North Africa
  • South Africa
  • Rest of MEA

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. It provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. It also maps the qualitative impact of various market factors on market segments and geographies.

Global Alarm Management System Market: Segmentation 

The global Alarm Management System market can be segmented on the basis of component, industry and region. 

Alarm Management System market, by component 

  • Software
  • Services

Alarm Management System market, by industry 

  • Automotive
  • Chemical
  • Agriculture
  • Oil and Gas
  • Research and Development
  • Others

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Natural Language Processing NLP Market is Registering a CAGR of 23% During the Forecast Period 2022-2032

The global natural language processing NLP market is projected to reach US$ 45 Bn by 2032 and registering a CAGR of 23% during the forecast period (2022-2032). The overall sales in the NLP market are anticipated to expand by 3.8x, exceeding US$ 14 Bn.Natural language processing is a sub-field of computer science and a component of artificial intelligence (AI). It helps in connecting technology and humans through AI and real-time analytics.

Some of the technologies operating on NLP process include Siri, Alexa, Google Search, and others. NLP is likely to help understand, interpret, and manipulate the human language through its various solutions & services.

Hence, key players are concentrating on integrating NLP in applications such as sentiment analysis, machine translation, speech recognition, chat-bots, text classification, market intelligence, and spell checking.

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Additionally, NLP is gaining immense popularity due to its benefit in organizing data during the time of addressing the customer queries and feedbacks with chat-bots. Subsequently, NLP also reduces the time taken to understand computer languages such as Java, C++, Ruby, and C.

Increasing need for analysis of massive data generated in the existing businesses through forums, sites, web blogs, emails, audio, and others is projected to increase the demand for NLP in the coming years.

What are the Primary Factors Boosting the Natural Language Processing Market?

Enterprises are focusing on advancing their customer experience and expanding their business processes through the adoption of AI and NLP. NLP platforms, especially Electronic Health Records (EHR), is gaining immense traction in the healthcare sector due to rising demand for accurate health profile and diagnostic results for better treatment outcome.

Expansion of e-commerce industry and penetration of online platforms is projected to increase the need for NLP to enhance customer experience through query handling and personal attention.

Furthermore, rising demand for NLP technology solutions and text analytics to analyze the published content, political reviews, or hate speeches is likely to create prolific growth opportunities for the market in the coming years.

Which are the Key Challenges Faced by Natural Language Processing Market?

NLP helps computers understand human language using specially designed algorithms for particular tasks. However, rising connectivity issues including inaccessibility, non-contextual answers, and interoperability are projected to impede the growth in the market.

The difficulty in making the machines understand human language is increasing the demand for in-depth analysis of user inputs through NLP. This is likely to increase the complexity, thereby creating a challenging for the key players to sustain in the market.

Subsequently, data ambiguity and overloading information makes real-time contextual understanding difficult for the machine learning based approaches. For instance, the inability in understanding the grammatically incorrect or jargon sentences, along with the gap between machines and human.

According to Facebook AI Research (FAIR) Lab, the challenges of building and using NLP systems could now be surpassed using open-sourcing PyText, an open-source deep learning framework that blurs the boundaries between large scale deployment and experimentation.

How will Sales in North America Natural Language Processing NLP Market Fare?

North America is projected to dominate the global natural language processing NLP market during the assessment period (2022-2032). Growth in the region attributes to the advancements in cloud computing platforms coupled with the affordability of the systems.

The development of AI in the U.S. due to the growing inexpensive software development tools and expanding datasets is projected to increase the demand for NLP in North America.

As per Future Market Insights (FMI), with increasing application of NLP solution in IT companies, key players in the U.S. are increasing product launches and improving their product portfolio to increase their sales.

For instance, in 2019, Inference Solutions, a U.S. based company launched Studio 6.0, which connects NLP and conversational artificial intelligence (AI) technologies from Google and IBM to mitigate complicated interactive voice response menus and speech-enabled, directed dialogue systems for the existing businesses.

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How will Growth in Asia Pacific Natural Language Processing Market Unfold?

FMI estimates, Asia Pacific (APAC) NLP market will register fastest growth rate during the forecast period (2022-2032). Demand in the region is anticipated to increase owing to the rising investments in AI coupled with growing advancements in natural language processing technologies.

The region is expected to hold a prominent position in the market due to the increasing introduction of novel NLP platforms in emerging countries such as India and China.

For instance, in July 2018, e-Aksharayan, an optical character recognition (OCR) engine for seven Indian languages, was launched in India. This tool developed editable text from the printed document images with 90-95% recognition accuracy.

Likewise, in August 2020, Baidu, Inc., a China-based company, introduced Qian Yan – or “thousand words”, the largest Chinese natural language processing (NLP) database.

Market Competition

Some of the key players operating in the global natural language processing NLP market include IBM Corporation, Dolbey Systems Inc., Oracle Corporation, Apple Inc., 3M Co., Netbase Solutions Inc., Hewlett -Packard Inc., Microsoft Corporation, SAS Institute Inc., and Verint Systems Inc., among others.

Key players in the NLP market are introducing advanced solutions and services to gain competitive edge and enhance their customer experience.

Report Of Scope

Key Segments Profiled in the Natural Language Processing NLP Market Survey

Technology:

  • Auto coding
  • Text Analytics
  • Optical Character Recognition (OCR)
  • Interactive Voice Response
  • Pattern & Image Recognition
  • Speech Analytics

Type:

  • Rule Bases Natural Language Processing
  • Statistical Natural Language Processing
  • Hybrid Natural Language Processing

Service:

  • Integration Services
  • Consulting Services
  • Maintenance Services

Deployment Model:

  • On-Premise
  • On-Demand

Application:

  • Sentiment Analysis
  • Data Extraction
  • Risk and Threat Detection
  • Automatic Summarization
  • Content Management
  • Language Scoring
  • Others (Portfolio Monitoring, HR and Recruiting, and Branding and Advertising)

Vertical:

  • Healthcare Sector
  • Public Sector
  • Retail Sector
  • Media & Entertainment
  • Manufacturing
  • Other Sector

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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Hyperlocal Delivery Apps Market Rising at a CAGR of 22.6% Over the Forecast Period 2022 – 2032

According to Future Market Insights (FMI), the hyperlocal delivery apps market is expected to witness growth at a CAGR of around 22.6% over the forecast period (2022-2032). The report states that the market is expected to reach the valuation of ~US$ 1,155.2 Mn by end of 2022.

As per Future Market Insights, surge in demand for digitalization and fast penetration of smartphones with internet connectivity to drive the growth of hyperlocal delivery apps market in the coming years.

Rising advancements in SaaS in the delivery operations for performance improvements, end-to- visibility with cost effectiveness is expected to drive the hyperlocal delivery apps market and present attractive growth possibilities for hyperlocal delivery apps software and platform vendors.

Moreover, advancements in logistics infrastructure, improved lifestyle with changing customer preferences for short delivery timelines is expected to drive the market growth. The increasing requirements for fresh produce, standardized products with on-demand services is surging the hyperlocal delivery apps market.

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Key Takeaways: Hyperlocal Delivery Apps Market

  • By type, the mobile-based hyperlocal delivery applications segment is anticipated to grow at a robust CAGR of 6% through 2032.
  • By industry, the retail & CPG segment is anticipated to increase at a CAGR of 3% between 2022 & 2032.
  • North America is dominating hyperlocal delivery apps market followed by Europe region in 2022.
  • South Asia & Pacific is estimated to be the fastest growing region in the global hyperlocal delivery apps market during the forecast period.
  • The U.S. hyperlocal delivery apps market is expected to progress at a CAGR of around 7% through 2032.
  • In India, hyperlocal delivery apps market is expected to grow by 2X during the forecast period.
  • Hyperlocal delivery apps market in China is estimated to witness the absolute opportunity of US$ 903.1 Mn in the forecast period.

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Rising Demand for Faster Delivery Fulfilments to Drive Hyperlocal Delivery Apps Market

Growing expectations of quick and instant deliveries have been a tipping point in e-commerce industry. Increasing online purchases with quick delivery timelines is fuelling the growth of hyperlocal delivery applications.

Furthermore, surging investments in logistics and supply chain management for adapting to changing demand and supply dynamics, e-commerce fulfilment and volatile economy is increasing demand the market demand.

Moreover, efficient management of the increasing broad scope of supply chain management which includes demand forecasting, production scheduling warehouse & center distribution management fuels the investments in supply chain industry driving the market growth of hyperlocal delivery apps.

More Valuable Insights on Hyperlocal Delivery Apps Market

Future Market Insight’s report on the hyperlocal delivery apps industry research is segmented into three major sections – type (mobile-based hyperlocal delivery apps, web-based hyperlocal delivery apps), industry (retail & CPG, medical & healthcare, food & beverages, courier express & parcel and others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the hyperlocal delivery apps demand outlook.

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About Electronics, Semiconductor and ICT Division at Future Market Insights

Expert analysis, strategic recommendations and actionable insights- the electronics, semiconductors, and ICT team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, & ICT, of which 100+ reports are specifically on solutions, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductors, and ICT industry.

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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Rail Freight Digital Transformation Market is Anticipated to Reach Market Share of US$ 142.68 Billion by 2032

Rail Freight Digital Transformation Market : Rail freight transportation refers to the use of rails or trains to transport goods and cargos over long distances across cities and countries. They are typically used for transporting bulk commodities and goods from source to the intended destination hauled by locomotives on the railroads. However, past few years, the rail freight transportation sector is getting highly influenced by the digital transformation services, to improve operational efficiency and optimize the infrastructure costs.

The market for rail freight digital transformation is projected to grow at a CAGR of 8.4% over the course of the forecast period, from a market share of US$ 63.69 billion in 2022 to US$ 142.68 billion by 2032.

Digital technologies such as cloud computing, Artificial Intelligence (AI), Internet of Things (IoT), 5G, cybersecurity, big data and analytics have transformed the rail freight business positively. The rail freight digital transformation solution and services are creating new opportunities which are more agile to transform the rail freight business, by developing new models and freight management systems to monitor the core operations of the rail freight transportation industry.

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Rail Freight Digital Transformation Market – Novel Developments

Key players in the Rail Freight Digital Transformation market are focusing on product innovation and strategic partnerships with the technology vendors to collaborate for offering digital transformation solution and services for sustained business growth:

  • In 2019, VTG AG- a leading rail logistics company, launched solutions for rail freight transformation under VTG Connect digitization initiative, for optimizing rail freight logistics operations and predictive maintenance.
  • In 2018, DXC Technology collaborated with New York Metropolitan Transportation Authority (MTA), to implement enterprise asset management solution for optimizing rail transport maintenance activities to support its digital transformation services.
  • In 2018, IT service giant TCS partnered with SAP Leonardo to develop an Intelligent Rail Digital Maintenance (iRDM) solution for conducting predictive maintenance to reduce unplanned network outrage and breakdown, thus increasing the efficiency and boost safety.
  • In 2018, Dutch Railways collaborated with Railnova, a leading provider of predictive maintenance and IoT solutions for railways, to deploy real-time monitoring solution to enable predictive maintenance.

Rail Freight Digital Transformation Market- Dynamics

Rail Freight Digital Transformation Market- Asia Pacific 

Asia Pacific has one of the busiest and largest rail networks in the world and is estimated to emerge as a highly lucrative region for rail freight digital transformation market. As China’s One Belt One Road (OBOR) global development strategy is gaining traction, the rail freight volumes in the Asia Pacific region tends to increase.

According to China Railway, rail freight volume for goods in China for 2018 was 4.0 billion tonnes and is estimated to reach 4.8 billion tonnes by 2020. Moreover, Indian Railway is planning to triple its rail freight volume by 2030. Such massive freight volume statistics shows the growth and opportunities for rail freight transportation industry in Asia Pacific countries.

Digital technologies has emerged as a key driver for rail freight industry in the Asia Pacific region. The use of IoT, 5G, Augmented and Virtual Reality (AR/VR) techniques, and cybersecurity, for rail freight management has streamlined the operations and reduced the costs. The governments in the Asia Pacific region are doing big investments to implement the rail freight digital transformation services, in the coming years.

Rail Freight Digital Transformation Market – Aging Traditional Rail Freight Transportation Network to Boost Demand for Digital Transformation

Rail freight transportation is traditionally a very old industry. The aging rail infrastructure is failing to fulfil the growing rail freight volume demand year-on-year. With the tremendous increasing in the pace of technology and digital services, the rail freight transportation infrastructure is disrupting at a very high level.

The use of technologies such as 5G and LTE for high speed connectivity, cloud infrastructure for scalability and backend rail freight operations, cybersecurity systems for rail safety etc., is revolutionizing rail freight transportation market. These technological breakthroughs would provide immense growth opportunities in the rail freight digital transformation market in the next 5 years.

Rail Freight Digital Transformation Market – Technology Vendors Focus on Strategic Collaborations with Railways to Commercialize Products for High Profitability

Technology vendors such as SAP, DXC Technologies, Ericsson, VTG and others are doing strategic collaborations with the governments around the world for multi-year contracts to revolutionize the rail freight transportation via digitization. The rail freight digital transformation promotes the adoption of cutting-edge technologies to complement the traditional rail freight supply chain to build a robust digital foundation, to automate operations, maintenance, safety and other core functions with increased efficiency.

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Rail Freight Digital Transformation Market- Segmentation

By Solution, the Rail Freight Digital Transformation market is segmented into-

  • Rail Freight Operation Information Systems
  • Rail Predictive Maintenance
  • Rail Freight Tracking & Monitoring
  • Rail Cargo & Warehouse Management
  • Security & Incident Management
  • Advanced Signaling & Communications
  • Others

By Services, the Rail Freight Digital Transformation market is segmented into-

  • Freight & Logistics Consulting
  • Advanced Technology Implementation & Deployment
  • Incident Response Service
  • Managed Services

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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