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Speech and Voice Analytics Market Recent Trends, Demand, Dynamic Innovation in Technology & Insights from 2022 to 2032

The Speech and Voice Analytics Market incomes were assessed at US$ 1.8 Bn in 2021 and is expected to develop at a CAGR of 22.3% from 2022-2032, as per an as of late distributed Future Market Insights report. Toward the finish of 2032, the market is supposed to arrive at a valuation of US$ 16.2 Bn.

Banks can offer normal, human-like conversations and satisfying commitment with clients by coordinating speech innovation with telephone banking. Banking firms focus on development to further develop their web banking offices. Beforehand, they depended on tedious and badly arranged techniques, for example, secret word verification, security questions, and One-Time Passwords (OTPs).

This situation, however, is evolving. Banks have perceived the need of supporting client experience and reinforcing security by integrating speech acknowledgment innovation into portable applications. Monetary help organizations, for example, Barclays Bank, United Services Automobile Association (USAA), and ING Bank have proactively started offering voice confirmation administrations to their clients to further develop the client experience, and they have gotten an ideal response.

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As per a FICO survey acted in the United States and Canada, 65% of Americans and 64% of Canadians were happy with uncovering their biometric data in 2020, demonstrating trust in biometric security. Barclays Bank participated close by Nuance Communications (US) in April 2020 to carry out a voice-biometric framework connected with regular language handling (NLP) to check clients via telephone.

The bank says that customer complaints about security have been decreased by 90%, and that average contact time has been lowered by 15%. HSBC has become the first bank to employ speech recognition for banking clients in February 2019. It has made a fundamental step toward the establishment of biometric banking.

Korean bank IBK also implements a biometric speech identification system that is dependent on speech recognition technology, allowing customer service centers to authenticate IDs in 15 seconds. Such advancements are likely to increase the need for speech analytics.

Key Takeaways from the Market Study

Global Speech and Voice Analytics Market is expected to reach a market size of US$ 2.2 Bn by 2022.
In terms of Component, the Solutions segment is expected to have the highest CAGR rate of 20.9% during the forecast period.
In terms of Deployment Mode, the Cloud segment is expected to have the highest CAGR rate of 19.9% during the forecast period.
United States is likely to remain the most dominant market with an absolute dollar growth opportunity of US$ 4.5 Bn during 2022 – 2032.
The market in U.S. is set to experience the highest CAGR of 21.6% during the forecast period.

“During the projected period, the rise of Solutions in terms of the component can become a key driver in raising the Speech and Voice Analytics Market revenue.” comments a Future Market Insights analyst.

Competitive Landscape

The Speech and Voice Analytics Market is highly concentrated, with only a few competitors accounting for the vast majority of the market share. The established firms are attempting to obtain supremacy in this sector. These firms are increasing their profits and market shares through smart joint projects. Some development in the Speech and Voice Analytics Market include:

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In August 2021, Avaya, a leading company in solutions to improve and enhance communications and collaboration, declared the acquisition of CTIntegrations, a U.S.-based specialist contact center system integration, and software development firm. CTIntegrations also announced to expand Avaya’s digital capabilities for its large contact center client base and enhanced the Avaya OneCloud AI-powered experience platform.
In December 2021, Genesys Telecommunications, a provider of customer experience management, announced that it has completed the takeover of Pointillist and Exceed.ai. Exceed.ai, renowned for its established intelligence lead activation and discussion processor, and Pointillist, known for its award-winning experience management platform, will fast-track how organizations communicate with consumers across the sales, marketing, and service lifecycle.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Speech and Voice Analytics Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Speech and Voice Analytics Market in terms of Components (Solutions (Speech Engine, Indexing and Query Tools, Reporting and Visualization Tools, Quality Management, Root Cause Analysis, Other Solutions (Emotion Detection and Workforce Optimization)), Services (Managed Services, Professional Services)), Application (Customer Experience Management, Call Monitoring and Summarization, Agent Performance Monitoring, Sales and Marketing Management, Risk and Compliance Management, Sentiment Analysis, Other Applications), Deployment Mode (On-premises, Cloud), Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), Vertical (Banking Finance Services and Insurance (BFSI), IT and Telecom, Media and Entertainment, Healthcare and Life Sciences, Retail and E-Commerce, Travel and Hospitality, Government and Defence, Other Verticals), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa (MEA)).

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Market Segments Covered in Speech and Voice Analytics Market Analysis

By Component:

Solutions
- Speech Engine
- Indexing and Query Tools
- Reporting and Visualization Tools
- Quality Management
- Root Cause Analysis
- Other Solutions
Services
- Professional Services
- Managed Services

By Application:

Customer Experience Management
Call Monitoring and Summarization
Agent Performance Monitoring
Sales and Marketing Management
Risk and Compliance Management
Sentiment Analysis
Other Applications

By Deployment Mode:

On-premises
Cloud

By Organization Size:

Large enterprises
Small and Medium-sized Enterprises (SMEs)

By Vertical:

Banking Finance Services and Insurance (BFSI)
IT and Telecom
Media and Entertainment
Healthcare and Life Sciences
Retail and E-Commerce
Travel and Hospitality
Government and Defence
Other Verticals

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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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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Content Creation Market Outlook, Growth Prospects & Key Opportunities from 2022-2032

The diminishing content creation market estimating, developing cell phone and tablet client bases, rising web infiltration, and more noteworthy utilization of computerized marketing apparatuses are probably going to decidedly affect the market.

To draw in possible clients, players are zeroing in on creating and carrying out computerized systems, empowering the development of market share.

Content creation app platforms account for the leading share of creation apps demand by product, and demand is expected to grow at the fastest pace through 2032.

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The content creation market is expected to escalate at a CAGR of 12.2% from US$ 13.4 billion in 2022 to US$ 47.2 billion through 2032 because of:

Content creation tools and services are important for creating and selecting content that meets the needs of businesses. As businesses focus on devising and implementing digital strategies to attract potential clients, content creation tools and services are becoming increasingly important, this then is the growing demand for content creation.
White papers, blog posts, e-newsletters, case studies and other types of content, such as white papers and blog posts, help to target relevant audiences. B2B communication is becoming increasingly dependent on digital content because of increased online traffic and the proliferation of internet services, thereby affecting the sales of the content creation market. Business owners are adopting digital content creation tools and services to take advantage of the increased online traffic and implementing digital marketing strategies.

In the last couple of years, the digital content creation market has grown significantly. A COVID-19 pandemic expected to harmonize the market globally is expected to drive the content creation market.
Almost all operations are now conducted remotely, and the use of digital content creation tools and services has enabled organizations to continually implement digital strategies.

According to market research firm Transparency Market Research, global digital content creation market is segmented into tools and services. Based on components, it is divided into content formats, deployment types, enterprise sizes, end-use industries, and geographies. Based on the content format, the digital content creation market is segmented into textual, graphical, video, audio, and others.

The digital content creation tools can be categorized into content authoring, content transformation, content publishing, and others; the digital content creation services can be categorized into professional services and managed services.

Global demand for content creation is surging; content creation market to grow at a CAGR of 13.1% through 2032. Social media content creator market will be driven by:

Depending on deployment type, the global content creation market is segmented into on-premises and cloud.
Among enterprises, large enterprises and small & medium enterprises account for the growth of majority of the global content creation market.
Markets for global content creation are segmented by end-use industry into the hospitality, retail, automotive, travel & tourism, healthcare, pharmaceuticals, media & entertainment, and government sectors.
Geographically, the global digital content creation market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

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A number of prominent players are active in the global digital content creation market, such as Acrolinx GmbH, Activision Blizzard, Inc., Adobe, Apple Inc., Aptara Inc., Avid Technology, Inc., Comcast, Corel Corporation, and Integra Software Services Pvt., Magic Software Enterprises, MarketMuse Inc., Microsoft Corporation, Quark Software Inc., and Trivantis.

With the decline in cost of digital content creation, increasing internet penetration, development of smartphones and tablets, as well as adoption of digital marketing tools, the global digital content creation market is growing rapidly.

Key Segments to Look for:

By Content Format:

Textual
Graphical
Video
Audio
Others

By Tool Type:

Cloud-based/Web-based Content Creation Tools
On-premise Content Creation Tool

By Enterprise Size:

Large Enterprises
Small & Medium Enterprises (SMEs)

By End User:

IT & Telecom
Travel & Hospitality
Retail
Education
Healthcare
Media & Entertainment
Others

By Region:

North America
Latin America
Asia Pacific
Europe
Middle East and Africa

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Employee Engagement Market Trends | Segmentation, Outlook & Report from 2022 to 2032

The global employee engagement market is expected to grow at a CAGR of 9.1% during the forecast period (2022 to 2032), reaching nearly US$ 3.8 Bn by 2032.

Every aspect of human resource management (HRM) has been impacted by technological advancements across numerous sectors. Employee benefit platforms, performance management tools, employee recognition tools, and survey tools are widely being adopted by companies to ensure a better relationship with their employees.

Cloud-based employee engagement software has made it easier for enterprises to provide better and faster outcomes. These enterprises and their corresponding employees are benefitted from this software and the tools. The present generation is of digital nomads who embrace employee engagement through technology.

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In recent years, there have been efficient and sophisticated employee engagement solutions that assist enterprises in the people management processes. Increasing implementation of ML (Machine Learning) and AI (Artificial Intelligence) in the workplace to manage employees and their workflow will further spur demand in the market.

AI promotes effective communication and individualized actions that take place throughout. HR department is able to make better-informed, data-driven decisions and make rational choices to engage & retain the employees. Using these solutions, managers use the data to better understand the factors that influence employee productivity.

“Growing trend of remote work culture, along with increasing need across organizations to focus on employee centricity will augment the growth in the market,” says an FMI analyst.

Key Takeaways:

By solution, the employee engagement software segment is anticipated expand at a CAGR of 1% through the forecast period.
Unified communications software will hold the largest market share of 4% by 2032.
Among the enterprise size, the large enterprise segment is estimated to grow by 2X during the forecast period.
By industry, the BFSI industry segment is anticipated to grow at the highest CAGR of 9% from 2022 to 2032, followed by the IT & telecom industry.
North America is estimated to lead the employee engagement market followed by the Europe in 2022. Whereas South Asia & Pacific is estimated to be the fastest-growing region during the forecast period.
Employee engagement market in East Asia is estimated to witness an absolute $ opportunity of US $322.6 Mn in the forecast period.

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Competitive Landscape

Leading players operating in the global employee engagement market are investing in mergers, acquisitions and collaborations with start-ups and other service providers to improve sales in the market.

Some of the key players include IBM Corporation, Microsoft Corporation, Google, Bitrix24, Atlassian Corporation Plc, Xoxoday, Connecteam, Officevibe (GSoft Group Inc.), and others.

In March 2022, Lattice, a people success platform for companies announced the release of a new OKR and Goals solution targeted at establishing strategic alignment between organizations and their workers. This tool assists firms in constantly setting and managing objectives, in order to remain aligned and on track in the business processes.
In March 2021, Workday Inc., a provider of business cloud solutions for finance and human resource, finalized the purchase of Peakon ApS, a platform for employee success that turns feedback into actionable insights. Peakon is currently a part of Workday.

More Valuable Insights on Employee Engagement Market

Future Market Insight’s report on the employee engagement industry market research is segmented into five major sections – by solutions (software (integrated employee engagement platform, standalone software (unified communications software, enterprise social intranet software, employee recognition & reward software, employee performance management software)), and services (professional services (consulting services, integration & implementation, support & maintenance, training & development), and managed services)), by deployment (on-premise, and cloud-based), enterprise size (small and mid-sized enterprises (SMEs), and large enterprises), industry (IT & telecom, BFSI, healthcare, retail, manufacturing, government, manufacturing, 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 employee engagement demand outlook.

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Employee Engagement Market Outlook by Category

By Solution:

Software
Services

Managed Services

By Deployment:

Cloud-Based
On-Premises

By Enterprise Size:

Small and Mid-Sized Enterprises (SMEs)
Large Enterprises

By Industry:

IT & Telecom
BFSI
Retail
Healthcare
Government
Manufacturing
Others

By Region:

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

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Parking Management Solutions Market Size, Share, CAGR & Forecast Report for 2032

The worldwide parking management solutions market is assessed to gather US$ 768.2 Billion while showing a 5.6% CAGR during the gauge time frame. Fundamentally because of the accessibility of brilliant advances among the majority the worldwide parking management solutions market has developed huge amounts at a time as of late.

Expanding gridlock and vulnerability in the parking accessibility would fuel the development of parking management solutions market.

The development of parking management market is driven by variables, for example, rise of completely mechanized parking frameworks (APS), expansion in gridlock, consistent progressions in machine-to-machine correspondence innovation and expanding interest for shrewd parking sensors for parking management.

With expanding parking booths, the parking management solutions industry is supposed to get US$ 440 Billion out of 2022.

Rising interest for rapid network with great help conveyance this will emphatically affect the general market development.

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Increasing use of cloud based technology such as artificial intelligence and big data and in many applications impelled the growth of the market. The parking venues segment is likely to offer remunerative opportunities for the global parking management solutions market.

Key Takeaways:

By technology, parking kiosks segment is expected to record an 6.0% CAGR by 2032
By installed location, parking venues segment to expand at a 6.8% growth rate during the forecast period
The U.S market to garner US$ 168.2Billion and record a 4.7% CAGR from 2022-2032
Market in China to procure US$ 93.5Billion, expanding at a 7.5% growth rate during the assessment period

“Growing number of vehicles across the world, rising demand for an effective traffic management solutions, and rapid development of smart cities are expected to drive the market in the forecast period”.

Competitive Landscape

Key players of the global parking management solutions market include Parking BOXX, IPS Group, Inc., METRIC Group Ltd., Ventek International, CivicSmart, Inc. among others. Market players are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. Recent developments among key players are:

In May 2020 – FlashParking formed a national service partnership with Burroughs Inc. The partnership will help Flash parking to provide a unique maintenance service to its users and reduce the risk of hardware downtime
In June 2020 – Passport Inc., partnered with Panama City Beach community to equip the city with the technology needed to create a more frictionless parking experience.
In March 2020 – Q-Free deployed a comprehensive parking guidance system at the Victorian Square parking garage in Sparks, Nevada. This system will provide real-time information on available spaces, making it easier for drivers to find parking. This contract will help Q-Free to mark its strong presence in the US market.

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What is the Contribution of Key Players to the Global Parking Management Solutions Market?

Key players of the global parking management solutions market include Parking BOXX, IPS Group, Inc., METRIC Group Ltd., Ventek International, Civic Smart, Inc. among others. Market players are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.

Recent developments among key players are:

In May 2020 – FlashParking formed a national service partnership with Burroughs Inc. The partnership will help Flash parking to provide a unique maintenance service to its users and reduce the risk of hardware downtime
In June 2020 – Passport Inc., partnered with Panama City Beach community to equip the city with the technology needed to create a more frictionless parking experience.
In March 2020 – Q-Free deployed a comprehensive parking guidance system at the Victorian Square parking garage in Sparks, Nevada. This system will provide real-time information on available spaces, making it easier for drivers to find parking. This contract will help Q-Free to mark its strong presence in the US market. ?

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global parking management solutions market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of technology (parking metre, parking kiosks) and by installation location (street parking and parking venues) across five major regions (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America).

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Key Segments Covered in the Parking Management Solutions Market Report

By Technology:

Parking meters-based Parking Management Solutions
Parking Kiosks-based Parking Management Solutions

By Installation Location:

Parking Management Solutionss for Street Parking
Parking Management Solutionss for Parking Venues

By Region:

North America Parking Management Solutions Market
Europe Parking Management Solutions Market
Asia Pacific Parking Management Solutions Market
Middle East & Africa Parking Management Solutions Market
Latin America Parking Management Solutions Market

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IoT Connectivity Management Platform Market Size & Share | Trends Analysis Report for 2032

According to a recent analysis by Future Market Insights (FMI), the adoption of IoT connectivity management platform in the market is estimated to grow at a CAGR of 16.8% from 2022-2032.

The report states that the market is expected to reach the valuation of ~US$ 6.3 Bn by the end of 2022. Organizations are adopting cloud-based solutions in order to increase the efficiency of their business in long run and provide security, improved collaboration and corporate data mobility.

Increasing adoption of IoT cloud platform due to demand for high-frequency data access and sharing with cost-effective data storage solutions is propelling the deployment of IoT platform in where the deployment of on-site IoT architecture is a very costly. Cloud solutions provide seamless communication between the IoT devices, expanded reach, and reduced latency over direct remote network connection.

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Also, growing integration of IoT powered technologies is enabling organizations to use smart devices and sensors to collect and transform data into business insights more rapidly with high accuracy and lower cost.

Connecting cloud with IoT reduces errors, increases visibility, provides scalability and affordability with faster time to market, thereby driving the growth in the IoT connectivity platforms market.

“Rapid digitalization across emerging economies is fueling the adoption of IoT devices, which is expected to auger well for the market. In addition to this, surging demand for workplace automation across various organizations will boost sales in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

By component, the solution segment is anticipated to expand at a CAGR of 7% during the forecast period.
Among the enterprise size, SMEs segment is estimated to grow by 2X during the forecast period.
Cloud-based IoT CMS segment is expected to create an absolute $ opportunity of US$ 8 Bn during the forecast period.
Based on industry, demand in the healthcare segment is anticipated to grow at a CAGR of 1% between 2022 & 2032.
The market in U.K. is expected to progress at a CAGR of around 5% during the forecast period.
In Japan, the IoT connectivity management platform market is expected to grow by 9x between 2022 & 2032.
IoT connectivity management platform market in China is estimated to offer an absolute $ opportunity of US$ 1.3 Bn over the forecast period.

Competitive Landscape

IoT connectivity management platform players are entering into partnerships with other players for enabling enterprises to track and control the IoT assets with unified and intuitive connectivity management services. For instance:

In Feb 2020, Ericsson collaborated with T-Mobile Austria and Stanley Black & Decker for accelerating the global deployment of Stanley Black and Decker’s connected equipment and services.

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More Valuable Insights on IoT Connectivity Management Platform Market

Future Market Insight’s report on the IoT connectivity management platform industry research is segmented into five major sections – component (solution, services), deployment (cloud-based, on premise), enterprise size (Small and medium-sized enterprises (SMEs), large enterprises), industry (IT & telecom, consumer electronics, energy & utilities, BFSI, healthcare, retail, manufacturing, government 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 IoT connectivity management platform demand outlook.

IoT Connectivity Management Platform Outlook by Category

By Component:

IoT Connectivity Management Platform Solution
Services

By Deployment:

Cloud-based
On premise

By Enterprise Size:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

By Industry:

IT & Telecom
Consumer Electronics
Energy & Utilities
Healthcare
Manufacturing
Retail
BFSI
Others

By Region:

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

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Power Distribution Unit (PDU) Market : Top Trends and industry overview to watch for 2022 to 2032

The power distribution unit (PDU) market is expected to grow from $2.4 billion in 2021 to $2.6 billion in 2022. The market is expected to grow 8.3% year on year between 2021 and 2022. During the forecast period of 2022-2032, the industry is expected to grow at a 4.6% value CAGR, reaching a valuation of US$ 4 billion.

The increase in data volume across the globe is expected to be a potential factor augmenting the market during the assessment period. In addition, the participation of players will be critical in the market’s development in the coming years. Equinix and GIC, for example, announced a collaboration to build xScale data centres across multiple countries, including Europe, Singapore, and South Korea.

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With a growing preference for AI-based PDUs, the market is expected to see it as a lucrative opportunity during the forecast period. Furthermore, with the growing number of SMEs globally, particularly in developing countries, the market is expected to expand significantly.

For example, Amazon Web Services (AWS) invested $2.8 billion in November 2020 to establish a new AWS Cloud in Telangana, India. On the other hand, the high costs associated with PDU installation, as well as space constraints and complicated wiring systems with an increasing number of power distribution units, may stymie market growth in the coming years.

About the Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide.

With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Key Takeaways from the Market Study

The triple-phase segment to expand at a CAGR of 6.5% during the forecast period
The data center segment to exhibit a growth rate of 4.1% from 2022- to 2032
The market in the U.S to garner US$ 1.3 billion by 2032
Market in the U.K to value US$ 296 million during the forecast period
India to exhibit a CAGR of 5.4% from 2022-to 2032
The Chinese market to secure US$ 308.1 million by 2032
Industry in Japan to record a CAGR of 5.1% from 2022- to 2032

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Competitive Analysis

Key players in the global power distribution unit market include Leviton Manufacturing Company, Inc., Schneider Electric SE., and Enlogic Systems LLC. Eaton Corporation PLC, and Tripp Lite.

In 2021, the APAC hyperscale market gained significant investments from Facebook, Amazon Web Services, Alibaba, and Microsoft. In SE Asia, Microsoft, Facebook, and Amazon Web Services invested in data centers across Singapore and Indonesia in 2021.
In April 2021, Enel, an Italian energy management enterprise, disclosed to venture into the power distribution market for the U.S. It has announced to invest US$ 19.52 million by the end of 2023. By end of 2030, the company is likely to invest US$ 73.23 million.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global power distribution unit market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Type (Basic PDU, Intelligent/ Monitored PDU, Metered PDU, Switched PDU), Application (Data Center, Commercial Building (Networking), Laboratories (IT/Comp Lab)), Power Phase (Single Phase, Triple Phase), Distribution Channel (Offline Channel, Online Channel), Industry (Data Center, Telecom IT, BFSI, Healthcare, Government, Education, Retail, Utilities, Military & Defense, Others (Transportation, Manufacturing)) & Region (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa)

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Key Segments Profiled In The Power Distribution Unit (PDU) Market Report

Power Distribution Unit by Type:

Basic PDU
Intelligent/ Monitored PDU
Metered PDU
- Inlet Metering
- Inlet/Outlet Metering
Switched PDU

Power Distribution Unit by Application:

Power Distribution Units across Data Centers
Power Distribution Units across Commercial Buildings (Networking)
Power Distribution Units across Laboratories (IT/Comp Lab)

Power Distribution Unit by Power Phase:

Single Phase Power Distribution Unit
Triple Phase Power Distribution Unit

Power Distribution Unit by Distribution Channel:

Power Distribution Unit Sales via Offline Channels
- Resellers/Distributors
- Direct to End-users
- Integrators/Maintenance
Power Distribution Unit Sales via Online Channels

Power Distribution Unit by Industry:

Power Distribution Unit for Data Centers
- Tier 1
- Tier 2
- Tier 3
Power Distribution Unit for Telecom & IT
Power Distribution Unit for BFSI
Power Distribution Unit for Healthcare
Power Distribution Unit for Government
Power Distribution Unit for Education
Power Distribution Unit for Retail
Power Distribution Unit for Utilities
Power Distribution Unit for Military & Defense
Power Distribution Unit for Other Industries (Transportation, Manufacturing)

Power Distribution Unit by Region:

North America Power Distribution Unit Market
Europe Power Distribution Unit Market
Asia Pacific Power Distribution Unit Market
Middle East & Africa Power Distribution Unit Market
South America Power Distribution Unit Market

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Network Attached Storage (NAS) Market Overview, Data Updates, Reports Analysis & Forecast 2022 to 2032

The network attached storage (NAS) market is projected to appear at a valuation of US$ 116.6 Bn by 2032 from US$ 31 Bn in 2022, rising quickly at a CAGR of 14.2% all through the check period.

The rising social event of 4G and 5G advances, the production of high-volume robotized content, and the making usage of telephones, computers, and tablets, which accomplish the time of goliath extents of information, are the key drivers driving the improvement of network attached storage (NAS) market.

The fundamental drivers of the network attached storage market are the rising fundamental to get to information in the corporate network and the web whenever and from any area. The rising use of remote and virtual office settings, business development organizing, and the need to offer workers with far off authorization to corporate networks, thusly, are driving interest for network attached storage (NAS) progression.

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Business activities need the reinforcement of touchy information, and network attached storage (NAS) frameworks are the best arrangement. The expanded utilization of network attached storage (NAS) innovation is because of the utilization of reinforcement targets and records to store information duplicates.

Key Takeaways 

The market size for network attached storage (NAS) in the United States is expected to reach US$ 41.5 Bn by 2032, growing at a CAGR of 13.9% during the research period.
United Kingdom is expected to reach a market size of US$ 4.8 Bn in network attached storage (NAS) by 2032, with a CAGR of 12.8% during the research period.
China’s network attached storage (NAS) market is expected to be worth US$ 8.4 Bn by 2032, with a CAGR of 13.5% over the forecast period.
Japan is expected to have a market size for network attached storage (NAS) of US$ 6.7 Bn by 2032, with a CAGR of 12.4% during the research period.
By 2032, South Korea is expected to reach a market size of US$ 4.2 Bn in network attached storage (NAS), with a CAGR of 11.7% during the research period.
In the design sector, 1 Bay to 8 Bays from the network attached storage (NAS) market is anticipated to flourish at the quickest CAGR of 14.2% through 2032.
With a CAGR of 14.0% through 2032, midmarket NAS solutions are predicted to grow significantly in the product sector of the network attached storage (NAS) market.

Competitive Landscape:

The market for network-attached storage is very fragmented. Previously, the network attached storage (NAS) market was dominated by the key companies. However, an increased business need for data storage is driving many new companies into the network attached storage (NAS) market, making it competitive.

ZyXEL Communications Corporation, Thecus Technology Corporation, Drobo Inc., Asustor Inc., Dell EMC, Buffalo Technology Inc., Hewlett-Packard Development Company, Hitachi Data Systems Corporation, NetApp Inc., International Business Machines (IBM) Corporation, Seagate Technology PLC, and others are among the key network attached storage (NAS) market players.

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How are Some Challenges Stifling Network Attached Storage (NAS) Market Growth

As network attached storage (NAS) is a type of storage connected to a computer system and delivers file services, cyber attackers can access this data, posing a cyber security concern. This is anticipated to be a challenge that might hamper the growth of the network attached storage (NAS) market during the forecast period.

Data security and privacy are critical characteristics for network-connected storage systems servers and hardware. Failing to provide data security, the network attached storage (NAS) market is likely to face challenges throughout the forecast period.

Recent Development:

HITACHI VSP 5000 was released in March 2021. It is the fastest NVME flash array in the world. It provides workload diversity, which means it can handle any workload, from mainframe to container. It has the appropriate size capacity and service levels. It is built with a combination of NVMe and SAS, which helps to maximize performance and workload cost. Powerful virtualization extends the capabilities of older systems. It is a quick and simple transition to NVMe and SCM over Fabrics (NVMe-oF).
June 20, 2021 – The sheer performance of Dell EMC’s Unity XT hybrid storage systems ensures that controllers do not become the limiting factor, allowing users to extend as needed to stay up with application IOPS, latency, and capacity expansion, and are built for 5-9 availability. The IO of the Unity XT hybrid array is boosted with FAST Cache or SSD Read Cache to offer flash performance with lower-cost MLC flash drives.
QNAP Systems Inc. published the QTS 4.4.2 NAS operating system in April 2020. QTS 4.4.2 not only improves system security and storage scalability but also improves storage expandability with physical JBOD devices to meet file storage and backup requirements.
NetApp Inc. purchased Talon Storage (US) in March 2020, a pioneer in next-generation software-defined storage solutions, to help global companies centralise and consolidate IT storage infrastructure to public clouds.
Synology Inc. released the DiskStation DS420j (a 4-bays network attached storage (NAS) server) in January 2020, a file syncing and sharing solution that covers the diverse capacity demands of home customers.
Acronis, a global leader in cyber protection, awarded WESTERN DIGITAL CORPORATION a contract in March 2020 to deliver its Ultrastar Data60 and Ultrastar Data102 high-capacity hybrid storage platforms, which will assist Acronis in meeting capacity demands and supporting the business’ long-term expansion plans efficiently and cost-effectively.

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Industrial and Institutional Cleaning Chemicals Market to Hit US$ 144.35 Billion by 2032: Says FMI

Over the forecasted years of 2022 to 2032, the global industrial & institutional cleaning chemicals market is expected to grow at a 7.3% CAGR. The industrial and institutional cleaning chemicals market is expected to reach a value of around US$ 144.35 billion by the end of 2032, up from a value of US$ 71.35 billion in 2022.

Their widespread use in cleaning tough soil stains, oily stains, hard-floor surfaces, and other surfaces is what accounts for the current industrial and institutional cleaning chemicals market share. All-purpose cleaners, disinfectants, and sanitizing chemicals are required in retail stores, department stores, and various public institutions such as colleges, recreational areas, and courts, which has increased demand for industrial and institutional cleaning chemicals.

The industrial and institutional cleaning chemicals market size is primarily impacted by the growing sales of the commercial end-use segment. Demand for is rising, particularly in the foodservice and healthcare sectors, which must adhere to strict hygiene requirements. On the other hand, disinfectants and sanitizers have emerged to be a crucial type of product and are extensively used in cleaning industry solutions.

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The global industrial and institutional cleaning chemicals market has benefited from the increased demand for the solvent sector from various industries as it substantially adds to the industry’s development and revenue. As it is yet another very basic ingredient used in the creation of chemical cleansers that is observed to have augmented the emerging trends in industrial and institutional cleaning chemicals in the present market.

In addition, the need for disinfectants and sanitizers has skyrocketed ever since outbreak of the Covid-19 epidemic overtook with a greater need for proper cleaning, appropriate hygiene requirements, and preventative measures to limit the virus from spreading. These factors together have contributed to the global expansion of the industrial and institutional cleaning chemicals market opportunities in general and disinfectants and sanitizers products in particular.

Key Takeaways from Market Study

The overall growth of the global industrial & institutional cleaning chemicals market is estimated to be absolutely US$ 73 Billion over the next ten years by following the average CAGR of 7.3%.
A little under 33% of the market for industrial & institutional cleaning chemicals comes from the general purpose cleaning category.
Globally North America is the dominant region for the industrial & institutional cleaning chemicals market by the presence of prominent market players
Asia Pacific promises a lucrative growth for the industrial & institutional cleaning chemicals market share during the forecast years of 2022 to 2032.

Competitive Landscape

Some of the well-known industrial & institutional cleaning chemicals market players are Procter & Gamble, BASF SE, Clariant, The Clorox Company, Inc., Henkel AG & Co. KGaA, 3M, Kimberly-Clark Corporation, Reckitt Benckiser Group plc, Croda International PLC, Albemarle Corporation, Eastman Chemical Corporation, Huntsman International LLC, STEPAN Company, Westlake Chemicals Corporation, SOLVAY, Dow, and Sasol among others.

Recent Developments in the Global Industrial & Institutional Cleaning Chemicals Market:

Tasman Chemicals, a supplier of sanitary and cleaning additives for several industries, including institutional and others, was acquired by Diversey Holdings Ltd in August 2021, according to a press release.
Azelis said in April 2021 that it has signed a contract to buy the distribution assets of Nortons Exim Private Limited and Spectrum Chemicals, two Indian businesses that provide a range of cleaning chemicals for industrial purposes. This acquisition is therefore expected to help Azelis grow its cleaning agent chemical operations.

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Industrial & Institutional Cleaning Chemicals Market By Segmentation

By Raw Material:

Chlor-alkali
Surfactant
Solvents
Phosphates
Biocides
Others

By Product Type:

General Purpose Cleaners
Disinfectants and Sanitizers
Laundry Care Products
Vehicle Wash Products

By End Use Verticals:

Commercial
Manufacturing

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U.S.Lime Market – Analysis and Deeper Insights | FMI

In a new publication titled “Lime Market: U.S. Industry Analysis and Opportunity Assessment, 2016-2026,” Future Market Insights examines the US lime market. Lime consumption in the United States was 19,600 KT in 2015, and it is expected to rise to 27,074 KT by the end of 2026. The US lime market is expected to generate an incremental $ opportunity of $1,096.8 million between 2016 and 2026. Future Market Insights sheds light on the various drivers and restraints that are likely to influence the market during the forecast period in this report (2016 – 2026).

The domestic metal industry in the United States, which has suffered from dumping of low-cost products in the country, is expected to improve in the coming years. A huge amount of lime is used to eliminate impurities during metallurgical operations such as in the manufacturing process of ferrous (iron and steel) and non-ferrous (alumina & bauxite, magnesium, copper, zinc, lead, etc.) metals.

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Segmentation highlights

The U.S lime market is segmented on the basis of Product Type into Quick Lime and Hydrated Lime; and on the basis of Application into Cement Manufacturing, Metal Manufacturing, Chemical (Water Treatment, Flue Gas, Others), Fertilizer, Pulp & Paper, and Others.

The Quick Lime product type segment is expected to account for a market value share of 83.3% by 2016 end and is expected to gain 90 BPS over the forecast period
The Hydrated Lime product type segment is projected to account for a market value share of 16.7% by 2016 end and is estimated to be pegged at 2,967 KT in terms of volume by 2016 end
The Metal Manufacturing application segment is anticipated to account for a market value share of 32.8% by 2016 end and is estimated to be pegged at 6,614 KT in terms of volume by 2016 end
The Chemical application segment is likely to account for a market value share of 33.3% by 2016 end and is anticipated to be pegged at 6,724 KT in terms of volume by 2016 end

Regional projections

The U.S lime market is segmented into the key regions of Northeast, Midwest, South, and Western. The Northeast U.S. lime market is estimated to account for a value share of 7.1% of the U.S lime market by 2016 end. Demand for lime in the Northeast U.S lime market is expected to be driven by water treatment plants. The Western U.S. lime market is estimated to account for a market value share of 16.7% by 2016 end, owing to an increasing production in the paper and pulp manufacturing industries.

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Vendor insights

The report profiles a few leading companies operating in the U.S lime market such as Mississippi Lime Company, Linwood Mining & Minerals Corporation, United States Lime & Minerals Inc., Lhoist, Valley Minerals LLC., CHENEY LIME & CEMENT COMPANY, Pete Lien & Sons Inc., CARMEUSE, and Graymont Limited. Top market players are increasing their production facilities and introducing advanced technology and tools to cater to market demands, besides adopting strategies such as acquisitions and partnerships to expand geographically and increase market share.

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Decorative Paints Market Worth US$ 87.8 Bn By 2031 | CAGR 4.3% – By FMI

According to a detailed study by Future Market Insights (FMI) it has been estimated that the decorative paint market value is expected to surpass US$ 57.8 Bn in 2021. Growing construction of residential, commercial, and institutional buildings is expected to drive market growth. The market is likely to witness a growth of 4.3% CAGR during the coming assessment period of 2021 and 2031.

FMI also forecasts the global decorative paints market to register year-on-year growth of 4.0% in 2021. Surging demand for interior decorations, renovating residential houses, coupled with urbanization, industrial growth, and expansion of infrastructure are some of the factors driving the decorative paints industry.

Considering this, FMI has projected the market valuation to reach US$ 87.8 Bn by 2031 end. The decorative paints market represented nearly 40% of sales in the paints and coatings industry in 2020.

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Key Takeaways

Urbanization is contributing significantly to sales of domestic consumer products at a stable CAGR of 4.3% over the forecast period, from 2021 to 2031.
The introduction of low VOC paints has been among the primary product innovations in the paints industry. A higher focus on sustainability will fuel demand for VOC paints in the decorative paints market.
Rapid urbanization, improving the standard of living, and the growing interest of customers in improving the aesthetic appeal of their homes and residential buildings have led to increasing demand for decorative paints.
Powered with high disposable income, consumers’ demand preference has shifted to paints with highly resilient characteristics along with a modern taste of aestheticism.
Growing construction of residential, commercial, and institutional buildings is expected to drive market growth.
Expansion of the construction sector will continue boosting decorative paint sales in India, China and GCC countries. As per FMI, the demand for decorative paints will be especially high in the Middle East and Africa, Eastern Europe, and the Asia Pacific.

Competitive Landscape

Akzo Nobel N.V., Sherwin – Williams Company, PPG Industries, Inc., Asian Paints Limited, NIPSEA GROUP (Nippon Paint), Valspar Corporation, Jotun, BASF-SE, Berger Paints India Limited, RPM International Inc., KANSAI Paints Co., Ltd. are some of the key companies profiled in the full version of the report.

Key market participants are focusing on mergers and acquisitions strategies, coupled with product development by investing in research and development to boost their market presence. Some of them are emphasizing increasing the production capacity to enhance their annual turnover.

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More Insights into the decorative paints market

In 2021, the U.S. decorative paints market is expected to grow by 4.1% year on year. Revenue generated in the market will be pushed by a high rebound in construction projects. Growth in the construction of residential and commercial buildings will continue pushing the demand for decorative paints.

Driven by the implementation of stringent regulations and changing consumer preferences, sales of low VOC paints are expected to pick up in the U.S.

The decorative paints industry in India is expected to register a CAGR of 5.2% throughout the forecast period. The growth potential is huge looking at the need for housing and the increasing number of people investing in housing units.

A considerable rise in the construction of high-rise buildings in metropolitan cities coupled with urbanization is boosting decorative paint sales in India. An increase in disposable income also is driving the growth of the market.

China is estimated to remain a key manufacturer and consumer of decorative paints, accounting for about 70% of the overall decorative paint consumption in East Asia in 2021. Rapid development in the building and construction and infrastructure sectors is boosting sales of decorative paints in China.

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Decorative paints Market by Category

By Product Type:

Water based paints
Solvent based paints

By Formulation:

Emulsion based paints
Distemper

By Application:

Interior Paints
Exterior Paints

By Sales Channel:

Online
Offline

By Price

Premium
Medium
Economical

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