Market Research Blog – Page 13441 – New Product Development

Storage Area Network (SAN) Market | Where Should Participant Focus To Gain Maximum ROI | Exclusive Report By Future Market Insights

Fiber Channel over Ethernet (FCoE) is anticipated to remain at the forefront, offering significant growth opportunities for players in the storage area network market. SAN technology enables fiber channel SAN traffic to be transmitted natively through Ethernet networks, and provides a reduction in capital and operating costs, as well as reducing cooling and power demand. FCoE links connect seamlessly to existing fiber channel SANs, support existing SAN functions such as logical partitioning and security features through existing management software.

The global SAN market is anticipated to exhibit a CAGR of 4% during the forecast period of 2019-2029.

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“SANs provide an opportunity to work directly with end users to customize and design a storage strategy, allowing a system integrator to either expand its consulting services or move beyond a traditional application, server, or hardware solution provider.”

Key Takeaways of Storage Area Network Market Study

North America is expected to hold a significant share in the global storage area network market during the forecast period.
Fiber Channel (FC) is expected to hold a significant share in the global SAN market among all technologies during the forecast period.
By component, the hardware segment is anticipated to retain its significant share in the global storage area network market during the forecast period. This due to the fact that, SANs leverage the high-performance Fiber Channel I/O and consist of a series of hardware components.
The demand for hypercscale server SAN is estimated to grow at an impressive CAGR. However, enterprise server SAN is estimated to continue to hold significant market share in the global storage area network market during the forecast period.

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Increasing Demand for Efficient Data Backup Management to Propel Sales

In the traditional approach of data backup, various backup and restore functions occur over the LAN, which are typically slow and severely impact the efficiency of the whole operation. In contrast, in a server-less data backup solution (SAN approach), data moves seamlessly across the SAN to tape devices, as it does not utilize critical server I/O or CPU resources. This factor is expected to drive the growth of the global storage area network market over the coming years.

More Valuable Insights on Storage Area Network Market

Future Market Insights offers an unbiased analysis of the global storage area network market, providing historical data of 2014-2018 and forecast statistics for the period of 2019-2029. To understand the opportunities in the SAN market, the market has been segmented on the basis of component (Hardware, Software, and Services), SAN type (Hypercscale Server SAN and Enterprise Server SAN), technology (Fibre Channel (FC), Fibre Channel Over Ethernet (FCOE), InfiniBand, and iSCSI Protocol), and vertical (BFSI, IT & Telecom, Energy & Utility, Government, Military & Defense, Healthcare, Manufacturing, Retail & e-Commerce, and Others), across seven major regions.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Neuromorphic Chip Market will record a CAGR of 20.7% within the forecast period 2016 – 2026

According to a latest research by Future Market Insights, development of AI systems is fuelling the growth of global demand for neuromorphic chips. Scientists and researchers developing diverse AI platforms are integrating neuromorphic chips to improve smart functioning and reasoning abilities of machines. Governments from several parts of the world are inducing surplus expenditure towards development of AI systems, which is incidentally catalysing the demand for neuromorphic chips in the global tech industry.

In 2015, about US$ 1.5 billion worth of revenues were attained through the global sales of neuromorphic chips. Increasing preference for neuromorphic engineering over conventional computing and a large-scale integration of analogue circuits for improving neurological & biological mimicking in smart machines continues to drive the demand in the global market for neuromorphic chips.

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Future Market Insights’ report, titled “Neuromorphic Chips Market: Global Industry Analysis & Opportunity Assessment, 2016-2026,” projects that the global neuromorphic chips market, which is currently valued at an estimated US$ 1.6 billion, will rake in revenues worth US$ 10,814.9 million by 2026 end. According to the report, the size of global neuromorphic chips market will expand exponentially – at 20.7% CAGR. Technical hurdles such as developing complex algorithms, and a sluggish commercialization of neuromorphic chips inhibits the market’s growth to some extent. And, high costs associated with the pricing as well as production of neuromorphic chips remains a key challenge for the key players in global neuromorphic chips market.

Regional Forecast of Global Neuromorphic Chips Market

Key findings assessed while analysing the neuromorphic chips market across several regions in the world include,

North America’s neuromorphic chips market is projected to be valued at nearly US$ 3 billion by the end of forecast period.
In 2015, Western Europe recorded US$ 304.5 million revenues through sales of neuromorphic chips, rendering it the second-most dominant region in the global market after North America.
Nevertheless, the neuromorphic chips revenues attained in Asia Pacific excluding Japan (APEJ) region will increase at the fastest growth rate, exhibiting a stellar 23.6% CAGR through 2026.
Following APEJ, the Japanese neuromorphic chips market is estimated to be valued over US$ 1.6 billion by 2026-end.
Demand for neuromorphic chips in Middle East & Africa will be comparatively less, while the expansion of neuromorphic chips market size in Eastern Europe and Latin America is predicted to be more than 17% CAGR throughout the projection period.

Preview Analysis on Global Neuromorphic Chip Market Segmentation by Application – Image Recognition, Signal Recognition, Data Mining and Others; By Vertical – Aerospace & Defence, Automotive, Consumer Electronics, Healthcare, Industrial and Others: http://www.futuremarketinsights.com/reports/neuromorphic-chip-market

Global Neuromorphic Chips Market: Competitive Backdrop

Industry leaders and tech giants such as IBM Research Inc. and Intel Corporation are participating in the growth of global neuromorphic chips market. Being a leading developer of advanced integrated platforms in digital technology has favoured Intel Corporation to engaging in designing, manufacturing & computing of neuromorphic chips. In 2016, IBM Research used phase-change materials to advance the data storing & processing capacities of neurons in analog chips. Besides these, companies such as Qualcomm Technologies, Inc., BrainChip Holdings Ltd., HRL Laboratories, LLC, General Vision Inc., Hewlett-Packard Labs, and Knowm Inc., are leading participants shaping up the competitive landscape of global neuromorphic chips market.

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Global Neuromorphic Chips Market: End-users & Applications

Advanced technologies are being used for development of alternative processing chips that recognize images or 3-dimensionally classify objects while capturing live environments. So, the demand for neuromorphic chips in image recognition is less likely to grow higher over the forecast period. About 37% of global neuromorphic chips market value is currently accounted by image recognition, but is projected to steep below 35% by 2026-end. Signal recognition & data mining applications, on the other hand, will witness a considerable rise in their global market share over the forecast period. With respect to the key end-user industries, aerospace & defence, consumer electronics and automotive are expected to collective account for nearly 60% of global neuromorphic chips revenues by the end of forecast period. Global neuromorphic chips sales accounted by aerospace & defence are expected to be more than US$ 2 billion by 2026-end. Healthcare industry, on the other hand, is projected to exhibit a US$ 1.3 billion incremental opportunity from 2016 to 2026.

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Smart Mining Market Segmentation By Automated Equipment – Driller & Breaker, Load Haul Dump, Mining Excavator, Robotic Truck, Others; By Component – Hardware, Solution, and Service (Engineering & Maintenance, Consulting, Product Training, and Implementation & Integration Service): http://www.futuremarketinsights.com/reports/smart-mining-market
Mass Notification Systems Market Segmentation By Application – Interoperable Emergency Communication, Integrated Public Alert and Warning, Business Continuity and Disaster Recovery and Business Operation; By Solution – In-building Solution, Wide-area Solution and Distributed Recipient Solution; By Product Type – Hardware, Software and Services; By End-user Vertical – Ommercial, Education, Energy and Power, Healthcare, Defence, Automotive, Transportation and Logistics and Government Institutions: http://www.futuremarketinsights.com/reports/mass-notifications-systems-market
Mobile Payment Transaction Market: Global Industry Analysis and Opportunity Assessment 2014 – 2020: http://www.futuremarketinsights.com/reports/global-mobile-payment-transaction-market

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Residential Robotic Vacuum Cleaner Market Competitive Growth Strategies Based on Type, Applications, End User and Region

The global residential robotic vacuum cleaner market will possibly attain a value worth US$ 1,491.0 Mn by 2016, up from US$ 1,255.0 Mn recorded in 2015. In-house robotic vacuum cleaner will remain a leading product type segment, whereas Europe will continue to be the largest regional market for residential robotic vacuum cleaner.

Rising urbanisation is the primary factor fuelling the demand for robotic vacuum cleaner. In addition, vacuum cleaners are gaining higher traction since the past few years owing to busy lifestyle of people worldwide and lesser time dedicated to household chores. Increasing consumer inclination toward automated cleaning devices is another key factor driving the growth of the global residential robotic vacuum cleaner market. Robovacs or residential robotic vacuum cleaners are lightweight, compact, portable, and possess intelligent sensors for efficient cleaning. These features, in addition to time and energy efficiency, collectively escalate the demand in market.

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Consumers nowadays are highly concerned about indoor air quality and indoor air pollution management. This is anticipated to hold a positive influence on the demand. Greater emphasis on health and hygiene will remain an important factor impacting the adoption positively. Increasing prevalence of asthma and allergic conditions spur the sales of HEPA filter-equipped vacuum cleaners. Growing awareness about managing indoor air pollution and increasing adoption of automated home appliances in developing countries will be a major factor influencing the demand in near future.

Rising R&D investments and launches of innovative products, such as vacuum cleaners with spinning brushes, UV sterilisation, and security cameras are foreseen to strongly support the market growth. Discovery of stair-climbing robot cleaner is identified to create lucrative growth opportunities. In 2015, iRobot Corporation introduced an advanced robotic vacuum cleaner (Roomba 980) that has in-built adaptive navigation, visual localisation, and connected app control. It is designed for enhanced efficiency on carpets. However, higher costs and stringent energy-efficiency regulations are likely to challenge the market growth.

Based on the robot type, the global market for residential robotic vacuum cleaner is classified into in-house and outdoor robot segments. In terms of value, the in-house robot segment is projected to reach US$ 1,221.8 Mn, accounting for over 81% market share by the end of 2016. Outdoor robot segment, with merely 18% share in 2016, is likely to witness a stellar Y-o-Y growth of 29.5% in 2017 over 2016.

By the mode of charging, the global residential robotic vacuum cleaner market is segmented into manual charging and auto battery charging segments.

Based on geography, the market for residential robotic vacuum cleaner is fragmented into five key regional markets viz. North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Europe will remain dominant with around US$ 665.0 Mn revenues and 44% market value share by 2016 end. APAC will continue to be another key market with over 18% market value share in 2016. MEA is identified to be the fastest growing region.

Some of the leading companies operating in the global market for residential robotic vacuum cleaners, include Neato Robotics, Inc., Yujin Robot, Co., Ltd., Robot Corporation, Dyson Inc., Ecovacs Robotics, Inc., Hayward Industries, Inc., Samsung Electronics Co., Ltd., Philips Electronics N.V, Pentair plc, and Milagrow Business & Knowledge Solutions (Pvt.) Limited. Most of the key players are currently focusing on innovative product development to take over the competition.

Long-term Outlook: Over 2016-2021, the global residential robotic vacuum cleaner market is estimated for a robust CAGR of 12.0%, reaching a value beyond US$ 2.4 Bn by 2021 end.

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Residential Robotic Vacuum Cleaner Market: Key Segmentation

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Japan
Middle East & Africa

The global residential robotic vacuum cleaner market is segmented on the basis of robot type, into:

In-house robot
Outdoor robot

On the basis of mode of charging, into:

Manual charging
Auto battery charging

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About Future Market Insights (FMI)

Consumer Electronics Market to expand at a CAGR of 5.6% through 2031

Global consumer electronics shipments are set to surpass 12 billion units in 2021, as success with COVID-19 vaccination and gradual reopening raise consumer confidence. Sales will be supported by relatively less precarious COVID-19 scenario in Asia Pacific, home to some of the fastest growing consumer electronics markets in the world. In the updated edition of the study, Future Market Insights analyses consumer electronics sales in 20+ high-growth markets, offering a comprehensive analysis on future growth.

The study reveals that covid-fatigue and launch of new models by consumer electronics companies will induce momentum in consumer electronics market in 2021. Many manufacturers had put off launching new models considering lockdown and low consumer confidence, however, 2021 is being looked at with tempered optimism.

Key Takeaways

Recovery expected for smart phones, smart TVs, printers in 2021
Sales through multi-brand stores to be lucrative
Germany’s consumer electronics market will be lucrative in Europe
US held 80% of North America share, sales in Canada growing modestly
China and India hotspots for global consumer electronics manufacturers

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Consumer electronics manufacturers will be looking at capturing higher market share in East Asia and South Asia. The markets in these regions, especially in China, India, Indonesia, Malaysia, and Thailand continues to be flooded with low-cost or mid-range consumer electronics.

Manufacturers from US, Western Europe, Japan, and South Korea are facing stiff competition in these markets due to the influx of low-cost Chinese products. However, owing to COVID-19 outbreak and China’s rise as a global heavyweight, geo-political situation can have an influence on Chinese imports.

“Market players are keeping a close tab on evolving consumer sentiment, as many consumers are in fatigue mode due to COVID-19. The way brands communicate differently may be visible in their advertising strategies” says an FMI analyst.

Who is winning?

The key players in the global consumer electronics market are aggressively investing to encourage and promote product development with an aim to gain a competitive advantage over other players operating in the market. For instance,

Samsung Electronics Co. Ltd. Launched its newest galaxy smartphones in January, 2021, while its new flagship Galaxy S smartphones are targeted for remote workers and gamers
Hitachi Ltd. Has announced in its new report published on 4^th February, 2021, that Hitachi ABB Power Grids will provide energy storage solution for Singapore’s first virtual power plant in order to enhance both of their production capacity

Segmentation

The Consumer Electronics market is segmented into application, form, end use industry, source and geography.

Product

Consumer Electronic Devices
- Digital Camcorder/DVR and Camera
- Smart Phones/Feature Phones & Tablets
- Smart TV
- Printers/ Set Top Box
- Personal Computers & Gaming Consoles
Wearable Devices
- Smart Accessories
- Other Wearable Devices
Smart Home Devices
- Securities & HVAC Systems
- Smart Kitchen Appliances

Sales Channel

Hypermarkets/Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Wholesalers & Distributors
Other Sales Channel

Regional Segments Analyzed Include

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)

For more insights on the Consumer Electronics Market, you can request for TOC at @https://www.futuremarketinsights.com/toc/433

Reasons to Buy the report

We provide authentic and detailed analysis on various market trends to enable businesses to make informed and beneficial decisions to attain competitive edge over key players.
Our analysts provide detailed market segmentation along with meaningful insights and extensive reports that other companies fail to include.
The report includes accurate analysis of the market and the current developing trends affecting the growth. FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts.This ensures that the data collected is from highly reliable sources.

Managed File Transfer (MFT) Market is anticipated to grow from a valuation of US$1.6 Bn in 2020 to US$ to over US$4.5 Bn by 2031

According to a study by Future Market Insights (FMI), the managed file transfer (MFT) market will surpass US$ 1.7 Bn in 2021 on the Back of increasing adoption in BFSI and IT & Telecom industries.

Rising adoption of cloud solution to securely transfer and share various types of data is expected to propel demand for managed file transfer over the coming years. The market is projected to witness significant growth due to factors such as growing need for reliable and cost-effective managed file transfer solutions, rise in digitizing the workspace, increasing demand for high-performance managed file transfer solutions, and rising availability of cost-effective managed file transfer software along with technological advancements.

The global managed file transfer (MFT) market is anticipated to grow from a valuation of US$1.6 Bn in 2020 to US$ to over US$4.5 Bn by 2031. In the past few years, managed file transfer have gained an enormous interest across the globe due to development of cloud based managed file transfer solutions.

The BFSI sector, telecommunication, and other industries have been exhibiting high demand for managed file transfer software and services for managing regular workflow. This is expected to contribute to revenue generation in the market over the forecast period. The market is projected to grow at a healthy CAGR of around 10.0% through 2031.

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Impact of COVID-19 on Managed File Transfer Market:

The COVID-19 pandemic outbreak has disrupted many industries, including the managed file transfer market. Many private, as well as government organizations, have transitioned to remote working, due to which there is a sudden surge in demand for managed file transfer solutions.

Market Segmentation by Category:

Some of the leading companies offering managed file transfer are Axway Inc., GlobalSCAPE, Inc., IBM Corporation, Micro Focus, Software AG, Oracle Corporation, Wipro Limited, CA Technologies Inc., Clearswift, Signiant Inc., OpenText Corporation, Coviant Software Corporation, Primeur, and others.

Solution

Software

System-centric File Transfer

People-centric File Transfer

Extreme File Transfer

Services

Implementation & Integration

Consulting

Support & Maintenance

Industry

BFSI
Media & Entertainment
Retail
Manufacturing
Telecommunication
Others

Region

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

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Key Questions Answered in Report

What are the factors fuelling demand for managed file transfer solutions?

The rising demand for incorporation of artificial intelligence, cloud computing, business intelligence, and Managed File Transfer as-a-Service (MFTaaS) across organizations to streamline their operations will fuel the demand in managed file transfer market.

What are the major challenges for managed file transfer solution providers?

Unsecure data access, high competition, lack of skilled resources to monitor the data transfer, along with infrastructural security issues, are challenges which might slow down the growth of the market.

What are the major trends impacting the sales of managed file transfer solution?

Partnerships between managed file transfer vendors, and increasing demand from banking sector are surging the sales of managed file transfer solutions

Which are some of the leading companies offering managed file transfer solution?

Which region is expected to be at forefront of managed file transfer market?

Managed file transfer market are likely to witness high demand in South Asia & Pacific due to increasing application in countries such as India, Indonesia, Australia, and others.

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Key Takeaways from Market Study:

Rising demand for seamless file transfer between or within organizations will enable growth in managed file transfer market at 10% CAGR between 2021 and 2031
The market in the U.S. is projected to expand at a CAGR of 8.2% through 2031, emerging dominant in North America
Germany will emerge as a key market for MFT, accounting for over one-fourth of demand registered in Europe
China and Japan will emerge as key markets within East Asia. While China is expected to account for higher share, Japan will exhibit growth at a higher pace
Rapid digitization will enable double-digit growth in India, pushing the expansion of the market in South Asia

“Key players are focusing on development and implementation of new solutions such as cloud computing technology and Managed File Transfer as-a-Service (MFTaaS) to offer secure file transfer features in businesses and across organizations,” says a Future Market Insights (FMI) analyst.

High Voltage Direct Current (HVDC) Transmission System Market to register an 8.8% CAGR during the projected period 2016-2026

According to Future Market Insights’ report titled “High Voltage Direct Current (HVDC) Transmission System Market: Global Industry Analysis and Opportunity Assessment 2016-2026,” the global market for high voltage direct current transmission systems, which is now valued at US$ 6,191.8 Mn, is likely to reach US$ 14.36 Bn in market value by the end of 2026 – attaining expansion at a CAGR of 8.8%. According to the report, North America, Western Europe and Asia Pacific excluding Japan (APEJ) are the leading markets for HVDC transmission systems globally. Key market players include ABB Ltd., TransGrid Solutions Inc., Siemens AG, Prysmian SpA, Toshiba Corporation, General Electric Co., Hitachi Ltd., Abengoa SA, and ATCO Electric Ltd.

Key Research Findings from Future Market Insights‘ Report on the Global HVDC Transmission System Market

Power Outages Continue to Fuel Demand

HVDC transmission is expected to become more efficient due to rampant popularity of advanced valve components such as insulated gate bipolar transistors (IGBT). Several such components that avert transmission failures can be categorised under the solution-based components. By 2026, global revenue share of such components is forecast to be about 60%, while revenues from sales of service-based HVDC transmission components will incur rapid growth at a 10.5% CAGR.

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Deployment Cost Benefits vs. High Installation Costs

According to a comprehensive cost analysis in the research report, high installation costs are a major drawback for adoption of high-voltage direct current over other electric transmission systems. HVDC transmission components are expensive and need to be replaced if damaged. With respect to deployment of HVDC transmission systems, subsea deployment is expected to gain adoption due to its comparatively lower installation cost and a rise in demand for offshore power distribution. By 2026, the 33% market value share attributed by overhead deployment model is likely to marginally surpass subsea deployment’s share by 5 percent or less.

Preview Analysis on Global High Voltage Direct Current (HVDC) Transmission System Market Segmentation By System Component – Solutions (AC & DC Harmonic Filters, Converters, DC Lines, Circuit Breakers and Others), Services; By Technology – LCC, VSC and Others; By Deployment – Overhead, Underground, Subsea and Combination; By Power Rating – Below 1000 Mws, 1001 To 2000 Mws and 2001 Mws & Above: http://www.futuremarketinsights.com/reports/high-voltage-direct-current-hvdc-transmission-systems-market

“Clean“ Power Proliferation and Growth in Demand for Higher Power Ratings

Manufacturers of HVDC systems incur a competitive edge in the power supply industry as these systems provide efficient transmission with optimal electricity consumption. To extend the environmental impact of HVDC transmission systems, manufacturers are adopting renewable or “clean” energy for transmission and reducing pollution arising from unwanted electromagnetic energy emanating from electrical lines.

In the power distribution industrial sector, managing the impact of energy transmission on the environment is now being considered with an utmost regard. A recent update on companies and governments undertaking steadfast measures on clean energy includes the approval of the US Department of Justice for the installation of a 3GW HVDC transmission system for the country’s TransWest Express Transmission Project. A power ratings analysis included in the report indicates that power distribution above 2,000 MWs will witness a rise in market value share, accounting for nearly 40% of the global HVDC transmission system market value by the end of 2026. Owing to such power consumption trends, companies such as General Electric Co. and ABB Ltd. among others, have included Ultra high-voltage direct current (HVDC) transmission systems as part of their original offerings.

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Advanced Technologies Demanding Skilled Workforce

Lack of proficient engineers to effectively operate as well as maintain HVDC transmission systems remains a longstanding challenge. Prominence of line-commutated converter (LCC) and voltage-source converter (VSC) technologies further necessitates the need for highly-qualified engineers. Comparatively, by the end of 2026, VSCs will be the dominant technology in the global market, accounting for nearly US$ 9 Bn in revenues.

More From FMI‘s Cutting-edge Intelligence:

Battery Management Systems Market Segmentation By Vertical – Automotive, Telecom, Drones, Consumer/Handheld; By Topology – Distributed, Modular, Centralised; By Component – Battery Management Unit, Communication Channel: http://www.futuremarketinsights.com/reports/battery-management-system-market

Flat Panel Display Market: Global Industry Analysis and Opportunity Assessment 2014 – 2020: http://www.futuremarketinsights.com/reports/global-flat-panel-display-market

Enterprise A2P SMS Market Segmentation By Traffic – National, Multi-Country; By Tool – Cloud API Messaging, Traditional And Managed Messaging; By Applications – Pushed Content Services, Interactive Services, Promotional Campaigns, Customer Relationship Management (CRM); By Verticals – Financial Institutions And Banking, Gaming, Travel And Transport, Health And Hospitality, Retail: http://www.futuremarketinsights.com/reports/enterprise-application-to-person-sms-market

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Transformer Monitoring System Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2031

The transformer monitoring system market exhibited year-on-year growth of 10.9% in 2021, backed by increasing adoption of green transformers leading to up-gradation of associated monitoring system and growing emphasis on improving reliability of power grid. FMI states that, transformer monitoring system market revenue grew by 8.5% between 2016 and 2020. It is predicted that sales revenue will reach US$ 2 billion in 2021 with an astronomical CAGR of 10.1%.

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Green transformers are gaining popularity due to its low carbon footprint and high efficiency and reliability. To monitor these new transformers retrofit installations are required. Increasing renewable energy penetration and rising sales of green transformers will accelerate the demand for retrofit transformer monitoring system in upcoming years.

According to International Energy Agency, global electricity consumption reached 22,848 TWh in 2019. China, India, Russia, and Brazil account for more than 39% of global consumption. Rise in electricity consumption in developing countries will boost the market sales over the forecast period.

Top manufacturers are striving to reduce the installation cost of the monitoring system and make them more reliable and accurate. However, unpredictability in terms of regulatory policies and strained supply chain system are the key challenges influencing the global market for transformer monitoring systems.

Key Takeaways from FMI’s Transformer monitoring system Market Study

North America transformer monitoring system market will exhibit stupendous growth at 10.6% CAGR through 2031, due to rapid industrialization, growing necessity to upgrade monitoring system with respect to transformers in U.S. and Canada.
Europe transformer monitoring system market led by Germany is forecast to grow at 7.6% CAGR during the forecast period. Rise in growth can be attributed to rising adoption of green transformers and presence of leading manufacturers in the region.
Incorporation of modern monitoring system to tackle power outage and related issues in urban area will drive the demand for transformer monitoring systems in India.
Japan and South Korea account for 3% of global transformer monitoring system market share in 2021. Increasing need to monitor large and complex power network and high demand of retrofits installation are key growth drivers in these countries.
By product type, software segment is projected to surpass the market valuation of US$ 277 at a CAGR of 10.3% in 2021. Advancement in big data analytics and introduction of internet of things (IoT) in monitoring system will drive the market growth of this segment.

“It will be interesting to see how modernization in electricity transmission system will influence the demand for transformer monitoring system during the forecast period. Rising necessity to upgrade monitoring system to comply with green transformers will boost the market growth in upcoming years,” says the FMI analyst.

Who is Winning?

Future Market Insights highlights the key trends emerging in the transformer monitoring system market and discusses the strategies employed by market players to strengthen their market position.

FMI estimated that the power transformer market is dominated by ABB, General Electric, Siemens AG, Maschinenfabrik Reinhausen GmbH, and Groupe Cahors S.A. Out of these top market players ABB holds around 14% of global market share, General Electric holds 10%, Siemens AG holds 12%, Maschinenfabrik Reinhausen GmbH holds 8%, and Groupe Cahors holds 5% of global market share, says FMI.

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Key Segment:

By Product:

Hardware
- Direct Winding Transformer Monitors
- Intelligent Transformer Monitors
Software

By Installation Type:

Newly Installed Units
Retrofit Units

By Application:

Dissolved Gas Analysis (DGA)
Partial Discharge (PD)
Bushing Monitoring
Cooling Control
Voltage Regulation

By End Use:

Power Transformers
Distribution Transformers
Other Transformers

By Region:

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

2016 – 2020 Transformer monitoring system Market Outlooks in Comparison to 2021 – 2031 Forecasts

Rapid urbanization and rise in industrial activities has increased the electricity consumption in past few years. With the world is looking towards establishing smart grids for effective distribution of power, the demand for transformer monitoring systems will rise over the forecast period. According to FMI, transformer monitoring system sales revenue will rise at 10.1% CAGR between 2021 and 2031.

The transformer monitoring system is a process oriented system that measures quantities like voltage and current, estimates measurement data through algorithm, creates trends, and performs model monitoring. Introduction of internet of things (IoT) based smart transformer technologies will augment the market growth during the assessment period.

Transformer monitoring system sales is expected to rise due to adoption of bulk manufacturing practices by manufacturers and heightened consumer awareness towards environmental issues.

Developed countries are investing in refurbishing existing grid infrastructure to cater to growing power needs and reduce carbon emission. Advancement in grid technology and upgrade in configurations to comply with green transformers will further complement the industry outlook.

Key Players:

Prominent players operating in the transformer monitoring system market are:-

ABB Group
Siemens AG
General Electric
Mitsubishi Electric Power Products Inc.
Eaton Corporation
Hitachi Ltd.
Qualitrol Company LLC
Koncar-Electrical Engineering Institute Inc.
Maschinenfabrik Reinhausen GmbH (MR)
CETT Co., Ltd.
Groupe Cahors
Camlin Power
MTE Meter Test Equipment AG
Advanced Power Technologies LLC

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Odour Control System Market 2022 Expectations & Growth Trends Highlighted Until 2029

The newest market research study by Future Market Insights on odour control system includes the global industry analysis for 2014–2018 and market forecast for 2019–2029. The study observes the odour control system market and offers detailed perceptions for the forecast period of 2019-2029. According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.

The odour control system market is estimated to be valued at ~ US$ 1 Bn in 2019 and is projected to increase by ~ 5% CAGR during the forecast period of 2019-2029.

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The odour control system market has a high potential to grow in regions such as Asia Pacific Excluding Japan (APEJ) and North America. Significant innovations with incorporation of advanced technologies meeting regulations are expected to emerge as a product differentiator in the odour control system market.

Odour Control System Market – Key Research Findings

The market value of global odour control system in 2019 is estimated at ~ US$ 1
During the forecast period of 2019-2029, the odour control system market is anticipated to grow at a CAGR of ~5%.
Adoption of odour control systems in chemical & petrochemical industry is likely to account for relatively high sales over the forecast period.
- The growth in demand for odour control systems in the chemical and petrochemical industry can be primarily attributed to their increasing usage in existing as well as new industrial plants.
APEJ (Asia Pacific Excluding Japan) is anticipated to hold more than one third of the revenue shares in the odour control system market by the end of 2029.
- APEJ will continue to be an opportunistic market for odour control system manufacturers and distributors, owing to increasing industrial and infrastructure development.
- The odour control system market in Japan is also anticipated to grow at significant rate, complying with the stringent regulations imposed by the government for controlling odour emissions through industrial as well as municipal sectors.
Growing concerns towards E-waste maanagement and waste recycling services across the globe are anticipated to drive growth in odour control system installations.

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Key Factors Shaping the Odour Control System Market

Advanced Technologies Emerging as Product Differentiators among ManufacturersDue to the growing integration of automation in industrial sector, the demand for cost-effective and advanced products is increasing, which is creating pressure on manufacturers to offer technologically advanced and unique product offerings. Noteworthy investments in research and development to develop unique technologies by manufacturers of equipment can be seen, which will help them differentiate their products in the odour control system market.Manufacturers of odour control system are focusing on automated monitoring systems for consistent supervision and optimization of the performance of odour control systems.

Inclination towards Hybrid Odour Control SystemMost of the odour control systems work on the principal of chemical reaction or physical adsorption. However, these technologies are now getting inefficient to adhere the current regulations imposed by several countries and environmental organizations. Also, these technologies are feasible under certain conditions and can eliminate only a few specific compounds, which vary among industries and processes.This, in turn, has raised the need for developing systems, which are effective over a wide spectrum of odorous compounds. Complying with demands, several odour control system market players are developing systems, which use integrated technology working on dual or triple stages to eliminate all possible odorants.These systems are available in different combinations, which can be chemical- adsorption, adsorption-biological, and hybrid of all three, if required. This, in turn, is estimated to project significant opportunities in the global odour control system market.
Environmental Concerns and Stringent RegulationsAs the waste generation has turned out as one of the major point of concern affecting water, land, air and scenic quality, several countries are now emphasizing to craft environmental regimes for proper balance between industrial development and environmental impact. Waste to energy initiatives are being undertaken with utmost importnace across the globe in order to reduce carbon emissions and conserve environment.Countries such as China, India, Iran, Saudi Arabia, and others, which are suffering from intense air pollution are strategizing to control the air pollution by imposing stringent regulation and mandating installation of air quality monitoring systems at all new and existing potential emitters. Such initiatives by government are expected to fuel the demand for odour control systems in the above mentioned countries.

Odour Control System Market Structure Analysis

The odour control system market is a moderately competitive market, globally.
Strategies followed by key players in the odour control system market are business expansion by acquisitions and mergers, product launches, collaborations and alliances. Key market players focus on strategies such as product expansion and innovation through new dealership networks and collaborations.
Noteworthy investments in research and development for novel and sturdy products are anticipated to boost the growth prospects of the odour control system market.

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Key players in the odour control system market are Babcock & Wilcox Enterprises, Inc., CECO Environmental., Anguil Environmental Systems, Inc., Evoqua Water Technologies LLC, Scotmas Limited, Ecolab Inc., Tholander Ablufttechnik GmbH, etc.

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Tower Crane Market 2022 Assessment and Key Insights Analyzed Till 2031

Global tower crane sales are set to be valued at US$ 19.3 Bn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. The report estimates global tower crane market to grow at nearly 4.8% during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on tower cranes market growth will evolve in the next decade.

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The research report analyzes demand for tower crane. The global tower crane market has been analyzed upon covid-19 impact, macroeconomic factors, market trends & market background. As per FMI’s research scope, the market has been analyzed on the basis of applications, customers & regions. The report gives us qualitative and quantitative information on various players in this market. Also, this report tracks the market by both supply side and demand side.

Demand for tower crane waned in 2020, due to the recessionary effects of COVID-19 on the construction activities, resulting in retardation of new and rental sales of tower cranes However, barring a few countries, the construction activities has resumed at a healthy rate post Q2 of the financial year. With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of Tower Cranes the market remains positive.

In its new study, ESOMAR-certified market research and consulting firm, Future Market Insights (FMI), offers insights about key factors fueling the demand for tower crane. The report tracks the global sales of tower crane in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the building and construction industry in general, and tower crane in particular.

Key Takeaways from Tower Cranes Market Study

Following negative returns amid COVID-19, the tower crane market is forecast to register a little below 4% Y-o-Y growth in 2021
The U.S. will continue accounting for maximum sales in North America, holding over 85% of regional market share
The U.K. market is likely to register 3.7% Y-o-Y growth in 2021 backed by recovering construction activities
The demand from Germany and France will account for considerable sales within Europe
China will emerge dominant in East Asia, while Japan and South Korea markets will continue exhibiting growth at a positive pace.

“Increasing investment in commercial construction as well as in the construction of civic in recent years is expected to provide an impetus to tower cranes sales. Rental base sales will continue to have a greater weightage as against direct ownership based procurement. Competitive price offering, increase in end user satisfaction on the performance, use of advanced technologies are the key strategies adopted by manufacturers operating in the market,” says FMI analyst.

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Compititive Landscape:

The tower crane market is moderately competitive, with presence of large number of players operating in the market. Some of the players are focusing to carve a niche for specific demography. The market has been benefiting from robust partnerships with high focus on innovations. This has led to a series of tower crane launches in the last few years.

For instance:

In 2020, Potain launched a tower crane focusing on home building and high-rise.
Comansa has recently launched the largest crane, called 21CM750, manufactured at its plant in Hangzhou.

Some of the leading companies operating in the market are:

Zoomlion Heavy Industry Science & Technology Company Ltd.,
Xuzhou Construction Machinery Group Co., Ltd.,
Liebherr,
Terex Corporation,
Manitowoc,
Sany Group,
Action Construction Equipments,
Konecranes,
Raimondi,
Comanasa S.A.

Facing challenges such as high cost of the equipment, setup time, and safety of the workers has always been one of the prime concerns of end users. Against this backdrop, some of the leading manufactures within the market are focusing on the development for enabling easy maneuverability of the tower cranes coupled with increasing the production capabilities.

By Segment:

By Lifting Capacity

Up to 5 Tons,
5 to 10 Tons,
10 to 20 Tons,
20 to 30 Tons,
50 to 250 Tons.

By Design

Top Slewing,
Bottom Slewing.

By Product Types

Self-Erecting,
Hammer Head Cranes,
Luffing Jib Cranes,
Mobile Cranes.

By End-Use

Building & Construction,
Civic infrastructure,
Marine & Sea Ports,
Mining,
Others.

By Region

North America,
Latin America,
Europe,
East Asia,
South Asia & Pacific,
Middle East & Africa.

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Aircraft Ground Support Equipment Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2031

Future Market Insights (FMI) in its latest analysis forecasts that the aircraft ground support equipment market will expand at a healthy CAGR of 6.5% between 2021 and 2031. The market valuation is set to reach US$ 9.7 Bn by 2021 end.

FMI also forecasts that the airport ground support equipment sales to top 27,000 units by 2031-end owing to the increasing passenger movement across the world. North America will continue leading the global aircraft ground support equipment market, exhibiting demand at a CAGR of 6%.

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ESOMAR-certified consulting firm Future Market Insights (FMI) in its latest report forecasts the global aircraft ground support equipment (GSE) market to register a CAGR of 6.5% between 2021 and 2031, reaching a market volume of around 27,000 units by 2031 end.

Establishment of new airports along with rising air traffic across the globe is creating huge demand for ground support equipment.

Airport authorities are increasing investment towards improving operational efficiency. Implementation of sophisticated aircraft ground support equipment is intended to reduce the downtime across airports.

Introduction of electric and hybrid ground support equipment has completely changed the market scenario. These equipment not only minimize emission but also reduce costs and improve efficiency of aircrafts. The ground support equipment market registered a healthy year-on-year growth of 6.6% CAGR between 2020 and 2021.

Due to the outbreak of COVID-19, cargo operations increased considerably as demand for timely transportation of medicines and vaccines rose. The increasing demand for refurbished ground support equipment will further strengthen growth prospects for the global market.

With the expansion of the aviation and tourism industry across the world, the ground support equipment market is set to reach a valuation of US$ 9.7 Bn in 2021.

“Innovations in ground support equipment and availability of ground support equipment rentals will create lucrative growth opportunities for the aircraft GSE manufacturers in the future” says the FMI analyst.

Key Takeaways from FMI’s Aircraft Ground Support Equipment Market Study

North America dominates the ground support equipment market as a result of well-established aviation industry. The regional market is set to register steady growth at 6% CAGR between 2021 and 2031.
Increasing investments in aviation industry will help China to maintain its dominance over the ground support equipment market during the forecast period.
The market in India is expected to offer lucrative growth opportunities to aircraft GSE manufacturers.
In terms of power, electric segment is expected to remain dominant owing to the increasing demand for sustainability and green aircraft GSE.
By equipment type, the aircraft service segment is expected to remain dominant in the aircraft ground support equipment market, followed by cargo loading and passenger services.

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By Segment:

Equipment:

Passenger Services
- Boarding Steps & Stairs
- Airport Buses & Transport
- Beds/Chairs Lifts
Cargo Loading
- Container Loaders
- Belt Loaders
- Cargo Transporters
- Cargo Dollies
Aircraft Service
- Refuelers
- Tugs & Tractors
- Ground Power Units (GPU)
- Air Start Units (ASU)
- Lavatory Service Vehicles
- De-icing Vehicles
- Rescue & Firefighting
- Air Conditioners
- Others

Power:

Electric
Non-electric
Hybrid

Ownership:

New Sales
Rental/Lease

Application:

Commercial
Defense

Region:

North America
Latin America
Western Europe
Eastern Europe
APAC excluding Japan
MEA
Japan

Competitive Landscape

Key players operating in aircraft ground support equipment market are focusing on expanding their business through contracts with airlines across different regions. They are also adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.

In August 2021, Thales partnered with Dragonair Airport GSE service Ltd. to provide an advanced Instrument Landing system (ILS) solution in fully supporting the three-runway system (3RS) expansion project at the Hong Kong International Airport (HKIA). This will enable to further improve the capacity and efficiency of aircraft landing while maintaining the highest standard of flight safety.

In 2019, JBT Corporation announced that it has signed an agreement to acquire Lektro, Inc., a privately held manufacturer of electric aviation ground support equipment based in Warrenton, Oregon.

JBT Corporation, Air T, Inc., Textron, Inc., China International Marine Containers (Group) Co., Ltd., Weihai Guangtai Airport Equipment Co., Ltd., Cavotec SA, ALVEST Group, MulagFahrzeugwerk Heinz Wössner GmbH u. Co. KG, Tronair, Inc., and Lektro Inc. and others.

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