Secure Logistics Market Expected to Witness a Sustainable Growth over 2025

The global secure logistics market size is anticipated to reach USD 109.25 billion by 2025, according to a new report by Grand View Research, Inc. ATMs play a vital role in maintaining the core banking touchpoint with consumers. Initially, ATMs were introduced to reduce congestion in branches. However, the types of services provided at ATMs have expanded significantly.

According to the World Bank statistics, in 2014, 62% of the world’s adult population had a bank account compared to 51% in 2011. The increasing trend toward introducing cash recycling ATMs is likely to accelerate the ATM market. Economic size and population density have a positive impact on the financial sector. The densely populated countries have a higher ATM penetration and higher geographic branch.

The transport companies are operating under increasing financial challenges, including fuel prices and various natural disasters. The transport companies are experiencing low-profit margins that enabled industries to have repeated business from a satisfied customer. The lack of appropriate security personnel, coupled with the lack of appropriate training, would delay the detection of stolen freight and incur more loss to firms. Transport security encompasses maritime, aviation, air cargo supply chain, and mass passenger transport system.

Transport industry players are acting as transnational companies, offering international freight service across the globe. This increased the risk of terrorist activities seeking to cause mass casualties and economic damages. In Australia, the air cargo supply chain security is regulated under the Aviation Transport Security Regulations 2005 and Aviation Transport Security Act 2004. Lack of law targeting organized theft of freight is expected to restraint the industry demand over the forecast period.

Though majority of companies have implemented up-to-date technologies to track goods over the Internet, they still suffer losses through theft or compliance owing to various reasons including laziness and lack of time for the employees. Companies are providing training for contractors and employees about freight handling and risk analysis to reduce the shrinkage.

However, the increasing penetration of mobile payments is likely to restrain the market growth. Emerging markets, such as Japan, India, China, Taiwan, Malaysia, and Japan, are localizing their content for mobile platforms for maximizing their potential sales. The NFC technology is widely used at pay terminals using mobile devices. Retailers such as Macy’s (U.S.), Walgreens Company (U.S.), and Target Corporation (U.S.) have started using the technology with Google Wallet.

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Further key findings from the report suggest:

• The increasing use of Transportation Management System (TMS) to process a high volume of shipments is likely to spur the market growth
• The diamonds, jewelry & precious metals application is anticipated to witness a significant growth with a CAGR of over 8.9% over the projected period
• The static type is anticipated to dominate the market in terms of revenue in 2015 owing to the increasing need for manned guard for various applications
• The rapid expansion of banking and financial institutions is expected to drive the Asia Pacific region demand
• The key players in the secure logistics market include Loomis (Sweden), Lemuir Group (India), GardaWorld Corporation (Canada), and Maltacourt Global Logistics (UK)
• The secure logistics industry is currently going through a consolidation phase and companies are adopting M&A activities to stay ahead of competition

Grand View Research has segmented the secure logistics market on the basis of application, type, and region:

Secure Logistics Application Outlook (Revenue, USD Billion, 2014 - 2025)

• Cash management
• Diamonds, jewelry & precious metals
• Manufacturing
• Others

Secure Logistics Type Outlook (Revenue, USD Billion, 2014 - 2025)

• Static
• Mobility

Secure Logistics Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Mexico
  • Brazil
• Middle East and Africa (MEA)

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Smart Speakers Market to Witness a Pronounce Growth During 2018 – 2025

The global smart speakers market has seen accelerated growth in recent years, and according to a recent report by Grand View Research, is expected to be worth USD 39.3 billion by the year 2025, advancing at a significant CAGR of 38.7% during this period. Smart speakers make use of voice recognition technology, which makes it possible for the speaker to understand the commands and accordingly act upon them. All the speakers may have a default ‘wake word’, through which they become activated and indicate that they are ready to perform the duties asked. Some of the most well-known smart speakers in the market come from Microsoft (Cortana), Apple (Siri) and Amazon’s Alexa.

Smart speakers have witnessed continuous modifications in their technology so as to be able to become more multifunctional, which has led to high attractiveness from the consumer side. According to a Pew Research survey conducted in June 2019, 25% of the adult population in the US said that they possess a smart speaker in their homes, although the younger adult population has been more embracing of this technology than the older adults. In the same period, Strategy Analytics data revealed that over 20% of the UK households owned a smart speaker, while Germany had smart speakers in 4.8 million households, amounting to 9.5 million potential users.

Smart speakers are being used for informative, entertainment and leisure purposes, with a voice survey by Adobe in early 2019 revealing that 74% of the users in the US used these speakers for playing music, while weather forecast was the next most popular activity at 66%. In comparison, shopping for items witnessed a fall in percentage as compared to their previous survey in August 2018. Automation of domestic activities and the appeal of human-machine interactions has also given the smart speakers market a huge push. Consumers in developed economies such as Western Europe and the United States are increasingly preferring the smart home concept, which is expected to accelerate demand for this market.

Some of the challenges the market faces include the growing penetration of voice-controlled technologies through other means, such as their integration within homes and vehicles. Moreover, there are also privacy concerns raised by many people, which has been a major reason that a significant proportion of the global population has kept away from adopting smart speakers. The Pew Research survey of 2019 revealed that around 54% of smart speaker owners were concerned about the amount of personal data that these smart speakers are able to collect. Moreover, a recent study revealed that smart speakers can potentially record audio at an average of nearly 20 times per day by mistake, which again has become a major issue plaguing the companies, as this can lead to lawsuits against them. As a result, organizations like Apple, Google and Amazon are treading this space carefully.

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Impact Of COVID-19 On The Market

The current outbreak of COVID-19 pandemic has led to government orders for people to stay at home, which has led to an increased usage of smart speakers for gathering information about the disease, along with learning about the pandemic situation in other countries, while also providing relief and recreation in the form of playing music or other recreational activities. According to a very recent data from NPR and Edison Research, 35% of U.S. smart speakers owners say they’re listening to more news and information through their device, and 36% say they’ve increased their consumption of music and entertainment. With the pandemic not showing any drastic signs of slowdown, and the fears of a second wave of the pandemic being considered a reality, the usage of smart speakers can be expected to increase in the coming months.

The smart speakers market has been broadly segmented on the basis of virtual personal assistant, which comprises of Amazon Alexa, Google Assistant and Apple’s Siri, among others, and region.

Some key trends in the market in recent years include:

• Amazon Alexa had the most substantial market share, on the back of immense brand popularity, multiple smart home integrations, support to up and coming market players, and the advantage of being an early mover. According to a survey by Consumer Intelligence Research Partners in 2018, Alexa devices had 70% of market share in the US.
• Google Assistant has also had a fair share in the market, with the emerging economies of India and China expected to play a key role in its growth. According to IDC, 87% of smart speaker sales in Europe go to Amazon and Google, which presents a significant challenge to competitors like Apple and Microsoft to expand their market share.
• North America was the dominant market for smart speakers in 2017, owing to the advanced technologies being practiced in the region, consumer inclination towards smart products, growing demand for IoT-enabled services, as well as presence of the major market players in the region. A study by Loup Ventures in 2019 stated that 75% of US households will possess a smart speaker by 2025.
• Europe is another substantial contributor to the smart speakers market, aided by the growing acceptance of these devices in Western European economies such as Germany, Spain, the UK and France. The Asia Pacific region is expected to advance at a mammoth CAGR of 55% through 2025, with the increase in standard of living in emerging economies, as well as establishment of manufacturing units by major players in the region.

Major companies in the smart speakers industry include Google, Amazon and Apple, with others such as Xiaomi also climbing up the ladder, especially in the price-sensitive Asia Pacific market. These companies focus on providing significant upgradations to their customers, along with continued R&D of their products. Another strategy is acquisition of customers through attractive offers on various products of the particular company on the purchase of their smart speakers.

Some recent developments in the smart speakers space include:

• Pearson India has introduced an English-speaking course on Amazon Alexa called MyPedia. The course can be started by the command “Alexa, open MyPedia”, or “Alexa, I want to learn English,” and consists of a collection of some stories along with quizzes, trivia, fun facts and rewards. The MyPedia skill can be accessed by users on Echo Show smart displays, all Amazon Echo smart speakers, along with Alexa app for smartphones.
• Google Assistant has very recently updated its ‘Your Places’ tab, which would enable users to manually check the weather and traffic conditions in and around the person’s locations of interest, such as one’s office, home or a personal favorite shopping area.

Xiaomi patented a smart speaker design in April 2020, which has been published by China’s National Intellectual Property Administration (CNIPA). Early indications based on the product design point to an absence of buttons, meaning that it will only be controllable through the touchpad or by voice.

Semi-trailer Market Factors Hindering The Growth Rate, Challenges and Restraints For Business Development by 2025

The global semi-trailer market is anticipated to be worth USD 24.8 billion by year 2025, advancing at a CAGR of 3.1% during the forecast period, according to a recent report by Grand View Research. A semi-trailer is a trailer without a front axle, with a large proportion of its weight being supported by a tractor unit. Semi-trailers are preferred over full trailers during transport, with the ease of backing associated with them being a major advantage. Semi-trailers are extremely useful in hauling long objects, such as pipes, beams or railway tracks. Some of the well-known trailer types include flat beds, dry vans, refrigerated, lowboy and tankers.

According to the Federal Motor Carrier Safety Administration (FMCSA), the year 2016 saw around 268.8 million total registered vehicles in the US, of which 11.5 million were large trucks that constitute single-unit trucks and combination trucks. The energy sector can be considered to be a major consumer of semi-trailers, as the rising natural gas production around the globe has necessitated the requirement for tankers in the coming years. Semi-trailers are used in various critical end-use industries, such as energy, construction, automotive and manufacturing sectors, on account of their versatility, reliability and flexibility. Another factor that has led to market growth is the steady phase-out of traditional trucks in developing economies such as India, where the government is pushing towards utilization of efficient transportation methods, which will adhere to emission norms.

The growth of the cold-chain and logistics industry is another significant factor aiding market growth for semi-trailers. Their versatility in terms of load carrying capacity, as well as the lower cost of transportation per ton per km accrued as compared to rigid trucks, have brought them to the attention of less than truckload (LTL) and full truckload (FTL) freight shipping companies, further enhancing market growth. Additionally, integration of technology such as driver assistance systems, as well as introduction of electric semi-trailer trucks, has also contribute positively to market growth. Companies in this space are also investing heavily in the R&D regarding aerodynamics enhancement, tire safety, electrified axles, tractor-trailer integration, and semi-trailer telematics, which further has solidified the semi-trailer industry.

The current COVID-19 pandemic has had a huge impact on the transportation and logistics industry. The major modes of transportation, such as airways and waterways, have seen a drastic drop in traffic, as countries have shut their borders for the foreseeable future. The logistics and transportation industry faces a challenge as to how to effectively manage the supply chain during this time. Another area of concern is the huge drop in the sales of vehicles that have greatly undermined the importance of trailers. The market may see a gradual lift in the coming weeks, as production gradually commences in the critical industries, which may lead to an upturn in the semi-trailers market. Moreover, the supply of essential goods has witnessed healthy demand in this period, which has been a silver lining for the industry players.

The global market has been segmented based on the semi-trailer type and region. The various types of semi-trailers available in the market include flatbed trailers, dry vans, refrigerated trailers, tankers, and lowboy trailers, and they make up majority of the market share.

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Key findings from the report suggest:

• The dry vans segment is anticipated to witness appreciable revenue-based growth in the coming years, on account of the rapid developments in the retail and FMCG sectors. Dry vans are used for transportation of non-perishable goods, and are the most common type of freight transportation seen in the United States.
• The flatbed segment had a substantial market share in 2018, on account of the rapid increase in demand for heavy cargo transportation. Flatbed trailers are heavily used in the shipping industry for transporting shipping containers of various sizes.
• Refrigerated semi-trailers are expected to have a significant share in the market in the coming years. These trailers are used for the transport of perishable and temperature-sensitive goods, as the help in maintaining the products at optimal temperature.
• Asia Pacific is anticipated to show strong market growth through the forecast period, on account of the increase in inland transportation due to development of well-connected routes, as well as the rise of e-commerce industry in major economies such as India and China. China is a major hub for automotive production, which is again a major growth driver.
• North America held a substantial market share in 2018 on account of presence of a strong road infrastructure network, and favorable initiatives such as installation of “SmartWay”, a verified aerodynamic technology to improve fuel efficiency in tractors and semi-trailers that has been mandated by the California Air Resources Board (CARB).

Some of the major companies in the semi-trailer industry include HYUNDAI Translead; Kogel Trailer GmbH; Schmitz Cargobull; Chassis King, Inc.; MANAC INC.; Wabash National Corporation.; Great Dane Fontaine Commercial Trailer, Inc.; Dorsey Trailer; Polar Tank; Utility Trailer Manufacturing Company; and China International Marine Containers (Group) Ltd. These companies are focusing on integrating advanced technologies, while also collaborating with OEMs for consistent inventory supply.

Some recent developments include:

• Wabash National Corporation introduced a re-engineered version of their Transcraft Eagle combo trailer at the American Trucking Associations’ (ATA) Technology and Maintenance Council (TMC) annual meeting. The trailer features a lighter weight design, as well as the highest standard beam rating to handle the toughest loads, and more load securement versatility.
• In December 2019, Kögel expanded its sales and service network in France through a partnership with G-TRUCK and MP TRUCK, who specialize in the repair and maintenance of commercial vehicles. The partnership would allow for ease of servicing of all Kögel customers in France.
• In October 2019, Hyundai revealed its concept for a hydrogen-powered fuel cell electric truck, called the HDC-6 NEPTUNE, which achieves the company’s vision of a zero-carbon emission fuel cell electric truck technology and design. Along with this, the company also revealed its eco-friendly, high-performance refrigerated concept trailer solution, known as the HT Nitro ThermoTech®.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Agriculture Equipment Market is Thriving USD 244.2 Billion Revenue by 2025

Agriculture Equipment Market Growth & Trends

The global agriculture equipment market size is expected to reach USD 244.2 billion by 2025, expanding at a CAGR of 8.9% from 2019 to 2025, according to a study conducted by Grand View Research, Inc. Rising population has escalated demand for food and has pressurized the agriculture sector to be increasingly efficient and productive. Additionally, increased mechanization in the agriculture sector, rise in demand for agricultural products, and need for profitability and operational efficiency are some of the factors anticipated to drive the agricultural machinery market demand over the forecast period.

Rise in adoption of technology-driven equipment and machinery such as robotics is also anticipated to drive the farm machinery market demand over the forecast years. Farmers in developed regions are adopting modern technologies such as drones, moisture sensors, GPS enabled devices, self-driving tractors, smart irrigation, and terrain contour mapping to increase farm yield and address soaring food demand. Such technological advancements are fuelling the espousal of farm equipment across the globe.

The farm machinery market is also estimated to be driven by increasing sales in developing nations such as India, China, and Brazil, as these countries continue to mechanize their agricultural sectors. Furthermore, strong economic growth and population expansion are expected to impose pressure on the agriculture sectors to be more competent, thus increasing sales.On the down side, high cost of agricultural machinery and financial crisis faced by farmers are some of the major challenges hindering market growth.

The agriculture equipment market is highly competitive and fragmented owing to the presence of few prominent players, along with several medium- and small-scale players accounting for the market share. The key players in the market include John Deere, AGCO, Mahindra & Mahindra, CNH Industrial N.V., Iseki & Co., Ltd., and Kubota.

Several leading vendors are investing in R&D in order to develop innovative equipment and maintain a strong foothold in the market. For instance, in April 2017, Mahindra & Mahindra Limited launched its 24hp 4WD small tractor. It has been available in the Indian market since April 2017. The tractor caters to row cropping and horticulture applications, is capable of lifting up to 750 kg, and is equipped with automatic depth & draft control (ADDC) features.

Request a free sample copy or view report summary: Agriculture Equipment Market Report

Agriculture Equipment Market Report Highlights

• The global agricultural equipment market is expected to register a CAGR of 8.9% from 2019 to 2025, due to technological advancements in agriculture automation and robotics as well as ever-increasing population
• Growing number of government initiatives in developing countries, especially China and India, to enhance agricultural productivity is expected to further spur sale of farm equipment over the forecast period
• By product, the tractors segment held the dominant share of over 25.0% in 2018, which is accredited to the fact that farmers are increasingly preferring tractors to increase production and restrict dependency on farm labor
• On the basis of application, the harvesting and threshing segment is anticipated to witness significant growth over the forecast period and is expected to exceed a CAGR of 10.0% from 2019 to 2025
• The Asia Pacific market is projected to expand at a CAGR of over 9.0%, owing to its existing and improving infrastructure levels, alternative sales channels, and government support
• Key players in the market include John Deere, AGCO, Mahindra & Mahindra, CNH Industrial N.V., Iseki & Co., Ltd., and Kubota.

Agriculture Equipment Market Segmentation

Grand View Research has segmented the global agriculture equipment market based on product, application, and region:

Agriculture Equipment Product Outlook (Revenue, USD Billion, 2014 - 2025)

• Tractors
• Harvesters
• Planting Equipment
  • Row Crop Planters
  • Air Seeders
  • Grain Drills
  • Others
• Irrigation & Crop Processing Equipment
• Spraying Equipment
• Hay & Forage Equipment
• Others

Agriculture Equipment Application Outlook (Revenue, USD Billion, 2014 - 2025)

• Land Development & Seed Bed Preparation
• Sowing & Planting
• Weed Cultivation
• Plant Protection
• Harvesting & Threshing
• Post-harvest & Agro Processing

Agriculture Equipment Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Netherlands
  • Spain
  • Denmark
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • South Korea
  • Taiwan
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Metrology Services Market to Reflect Impressive Expansion During 2019 - 2025

The global metrology services market size is expected to reach USD 939.3 million by 2025, at a CAGR of 5.9% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing adherence to international quality standards in end-use industries and the need for the development of technologically advanced metrology software packages are expected to drive the growth. Moreover, steady growth in the local markets and surge in the aerospace and defense industries across emerging economies, such as China, India, Japan, Russia, Brazil, and South Korea is also anticipated to fuel the demand for metrology services.

Coordinate Measuring Machine (CMM) product provides precise measurement of the object for testing, assembling, design, profiling, and reverse engineering of parts. Therefore, increasing demand for services such as calibration, machine installation, and retrofitting offered by CMM is expected to drive the growth. Increasing demand for metrology services from different applications such as manufacturing, automotive, and power generation among others is projcted to continue driving the market growth over the forecast period.

Metrology services play a vital role across different industrial applications ranging from mining and heavy industrial production, fabrication, refineries, and material analysis. These services are primarily used for crack and failure analysis, grain sizing, cast iron modulatory and flake analysis, and surface analysis application. Different laser scanners are used in this industrial metrology services for precision measurement of a customized component, 3D CAD for inspection of molds and assemblies, laser tracker and large volume scanning for high accuracy, and better quality product output.

Asia Pacific is expected to be the prominent region over the forecast period. China led the region in 2018 as it is among the leading producers of iron, steel, chemical, consumer product, food processing, and transportation equipment manufacturing among others. On the other hand, U.S. led the North America metrology services market in 2018 owing to its extensive application across energy and power generation industry for raw casting, forging inspection, die and mold design and to inspect, repair or modify power generation turbine components. These technological advancements are expected to fuel the regional demand in near future.

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https://www.grandviewresearch.com/industry-analysis/metrology-services-market

Further key findings from the study suggest:

• North America ODS segment is expected to reach USD 183.6 million, at a CAGR of 5.7% by 2025. These services are explicitly used for reverse engineering operations in the manufacturing sector
• In Germany, the CMM segment is expected to reach USD 45.9 million by 2025, owing to increasing demand for services such as calibration, machine installation, and retrofitting, across various manufacturing industries
• The Asia Pacific automotive metrological services market is expected to reach USD 67.6 million by 2025, attributed to the increasing number of automotive component manufacturing facilities in the region

Grand View Research has segmented the global metrology services market on the basis of product, application, and region:

Metrology Services Product Outlook (Revenue, USD Million, 2015 - 2025)

• CMM
  • Gantry Machine
  • Bridge Machine
  • Articulated Arm Machine
  • Horizontal Arm Machine
• ODS
  • 3D Laser Scanner
  • White Light Scanner
  • Laser Tracker

Metrology Services Application Outlook (Revenue, USD Million, 2015 - 2025)

• Automotive
• Aerospace
• Industrial
• Power Generation
• Others

Metrology Services Regional Outlook (Revenue, USD Million, 2015 - 2025)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
• RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Commercial Refrigeration Equipment Market is Expected to Enhance USD 48.61 Billion Revenue By 2025

The global commercial refrigeration equipment market size is projected to reach USD 48.61billion by 2025, growing at a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Advancements in refrigeration technologies along with the changing food habits are expected to impel the market growth over the forecast period. The refrigerators & freezers is anticipated to emerge as the fastest-growing product segment with a CAGR of 6.4% from 2019 to 2025.

Innovation in magnetic refrigeration systems and other emerging technologies are also expected to have a positive impact on the market growth. Super markets are one of the most prominent retail channels for such equipment. The segment was valued at USD 2.20 billion in 2018 and is projected to maintain the dominance in future due to increasing number of supermarkets and hypermarkets in developing countries, such as China and India .Growing disposable income levels and improving standards of living in the emerging countries are also boosting the growth of super and hypermarkets.

The convenience store segment is said to register the highest CAGR of 6.1% over the forecast period. North America is a prominent region in the global market as it is the biggest manufacturer and exporter of the product. The region accounted for a market share of more than 32% in 2018. However, Asia Pacific is expected to emerge as the fastest-growing market from 2019 to 2025, owing to rise in the product manufacturing in this region.

Access Research Report of Commercial Refrigeration Equipment Market @ https://www.grandviewresearch.com/industry-analysis/commercial-refrigeration-equipment-market

Further key findings from the study suggest:

• The refrigerators &freezers segment is expected to reach USD 12.31 billion by 2025 at a CAGR of 6.4% from 2019 to 2025
• Technological advancements in refrigerators are anticipated to boost their demand in the food service and production segment
• F&B distribution is expected to be the fastest-growing application segment at a CAGR of 6.3% over the forecast years
• Key companies in the commercial refrigeration equipment market are Dover Corp.; Daikin Industries Ltd.; Carrier Commercial Refrigeration, Inc.; Johnson Control, Inc.; and Haier Group Corp.

Grand View Research has segmented the global commercial refrigeration equipment market on the basis of product, retail channel, application, and region:

Commercial Refrigeration Equipment Product Outlook (Revenue, USD Million, 2015 - 2025)

• Transportation Refrigeration Equipment
• Refrigerators & Freezers
• Beverage Refrigeration
• Display Showcases
  • Self-contained
  • Remotely Operated
• Ice Merchandisers & Ice Vending Equipment
• Others

Commercial Refrigeration Equipment Retail Channel Outlook (Revenue, USD Million, 2015 - 2025)

• Hypermarket
• Supermarket
• Convenience Store
• Specialty Store
• Others

Commercial Refrigeration Equipment Application Outlook (Revenue, USD Million, 2015 - 2025)

• Food Service
• Food & Beverage Retail
• Food & Beverage Distribution
• Food & Beverage Production
• Others

Commercial Refrigeration Equipment Regional Outlook (Revenue, USD Million, 2015 - 2025)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Light Duty Vehicles Market to Partake Significant Development During 2019 to 2025

The global light duty vehicles market size is expected to reach USD 922.21 billion by 2025, registering a CAGR of 8.5% from 2019 to 2025, according to a new report by Grand View Research, Inc., The increasing demand for passenger cars for shared mobility services is expected to emerge as one of the major drivers of growth. The continued development of driverless electric cars is also expected to drive the market growth over the forecast period.

The continued development of Electric Vehicles (EVs) and semi-autonomous commercial cars/trucks bodes well for the growth of the market. Several governments are already pursuing initiatives to facilitate the development of EVs. For instance, the Government of India’s National Electric Mobility Mission Plan (NEMMP) targets unit sales of 6-7 million hybrid vehicles and EVs by 2026. As such, the continued adoption of EVs for commercial transportation, owing to the numerous benefits EVs can offer over conventional vehicles, is expected to drive the market growth over the forecast period.

The growing trend of offering shared mobility is expected to drive the growth of the light duty vehicles marketover the forecast period. Online transportation network companies, such as Ola Cabs and Uber Technologies Inc., are increasingly deploying light duty passenger cars to offer shared mobility services that allow passengers to share a ride with people heading towards the same destination. The development of other mobility services, such as micro transit and courier network services, is also expected to drive the market growth over the forecast period.

The e-commerce industry has witnessed noticeable growth in developed as well as developing economies. The unabating growth of the e-commerce industry is prompting logistics & transportation companies to rollout efficient logistics services, thereby driving the market growth. The demand for light duty vehicles is growing, particularly in emerging economies, where the industrial sector is expanding gradually, and the need to transport raw materials and finished products efficiently is increasing subsequently.

Access Research Report of Light Duty Vehicles Market @ https://www.grandviewresearch.com/industry-analysis/light-duty-vehicles-market

Further key findings from the study suggest:

• Asia Pacific is projected to emerge as the fastest-growing regional market over the forecast period owing to the increasing adoption of light duty vehicles by the incumbents of the e-commerce and tourism industries in the region
• The electric segment is expected to register the highest CAGR over the forecast period owing to the initiatives being pursued aggressively all over the world to encourage the development and adoption of EVs
• The all-wheel drive segment is expected to emerge as the fastest-growing segment over the forecast period owing to the growing use of all-wheel drivetrains in sports utility vehicles (SUVs) and trucks
• The automatic segment is expected to register the highest CAGR over the forecast period owing to the convenience automatic transmission vehicles can offer in heavy traffic conditions
• The key players operating in the light duty vehicles market are BMW AG, Daimler AG, Fiat Chrysler Automobiles N.V., Ford Motor Company, General Motors Company, Honda Motor Company, Ltd., Hyundai Motor Company, Nissan Motor Company, Ltd., Subaru Corporation, and Toyota Motor Corporation, among others.

Grand View Research has segmented the global light duty vehicles market on the basis of vehicle type, fuel type, transmission, drivetrain, and region:

Light Duty Vehicles Type Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

• Passenger Car
• Van
• Sports Utility Vehicle (SUV)
• Pickup Truck

Light Duty Vehicles Fuel Type Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

• Diesel
• Gasoline
• Hybrid
• Electric

Light Duty Vehicles Transmission Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

• Manual
• Automatic

Light Duty Vehicles Drivetrain Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

• Front Wheel Drive (FWD)
• Rear Wheel Drive (RWD)
• Four Wheel Drive (4WD)
• All-Wheel Drive (AWD)

Light Duty Vehicles Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Intelligent Building Automation Technologies Market Growth in the Coming Years

The global intelligent building automation technologies market size is expected to reach USD 105.2 billion by 2025, registering a CAGR of 7.0% from over the forecast period, according to a new study conducted by Grand View Research, Inc. Rising awareness regarding sustainability in the wake of increasing effects of global warming is expected to drive demand for intelligent building automation technologies (IBAT) over the forecast period. In addition, technological advancements such as internet of things (IoT) and artificial intelligence (AI) are expected to boost market growth.

Growing awareness regarding workplace safety and security, a shift toward green and smart buildings, and improving comfort level of the occupants are major factors that are expected to fuel demand for IBAT. Increasing demand for automated HVAC and safety in the healthcare and hospitality industries is also boosting market growth. Intelligent building automation technologies assist various industries in the optimization of energy usage and reducing its operating expenditure.

Rising establishment of smart infrastructure across the globe is expected to contribute significantly to market growth. Various factors such as increasing green building initiatives, development of cloud-based IoT platforms, and growing environmental concerns are expected to boost market growth over the forecast period. Surging energy prices and urgent need to manage them also serve as key driving factors.

Prominent players are emphasizing on new product launches in order to combat increasing competition. They are also focusing on acquiring a larger market share through inorganic growth strategies like mergers and acquisitions. For instance, Honeywell International Inc. completed the acquisition of Transnorm, a warehouse automation solutions provider, in September 2018. This enabled the former to expand its customer base across Western Europe.

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https://www.grandviewresearch.com/industry-analysis/intelligent-building-automation-technologies-market

Further key findings from the study suggest:

• By component, the service segment is expected to exhibit the highest CAGR from 2019 to 2025. Service providers for smart buildings assist in applying intelligent automation technologies for efficient operation and maintenance of buildings in a cost-effective manner
• Based on product, the facility management systems segment dominated the market owing to rising need to achieve economies of scale in manufacturing facilities
• On the basis of application, the commercial segment is expected to continue its dominance through 2025. This growth can be attributed to increasing adoption of IBAT by hotels, airports, and retail and IT companies
• Asia Pacific is expected to register the highest CAGR of 9.4% from 2019 to 2025. Growth can be attributed to increasing investments in infrastructure in order to support smart city initiatives across the region
• Key players in the intelligent building automation technologies market include ABB; Azbil Corporation; Eaton; General Electric; Ingersoll Rand plc.; Siemens Building Technologies Inc.; Schneider Electric; Honeywell International Inc.; Hubbell Inc.; Johnson Control; Rockwell Automation Inc.; and United Technologies Corporation.

Grand View Research has segmented the intelligent building automation technologies market on the basis of component, product, application, and region:

Intelligent Building Automation Technologies Component Outlook (Revenue, USD Billion, 2014 - 2025)

• Hardware
• Software
• Service

Intelligent Building Automation Technologies Product Outlook (Revenue, USD Billion, 2014 - 2025)

• Security Systems
• Life Safety Systems
• Facility Management Systems
• Building Energy Management Software

Intelligent Building Automation Technologies Application Outlook (Revenue, USD Billion, 2014 - 2025)

• Residential
• Commercial
• Industrial

Intelligent Building Automation Technologies Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • France
  • Germany
• Asia Pacific
  • Australia
  • China
  • India
  • Japan
  • Malaysia
  • Singapore
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research    reports, customized research reports, and consulting services. To help clients make informed business    decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Field Programmable Gate Array Market Size Projected to Rise Lucratively during 2020 - 2027

When we go through well-known acronyms starting with F, such as FIFA, FAO, FBI among others, FPGA might not come up (unless you’re a tech geek). However, we are surrounded with it and our appliances would find it extremely difficult to function without it.

All About FPGA & More…

The Field Programmable Gate Array is an Integrated Circuit (IC) which can be configured to a device by a customer after its manufacturing, hence it is termed as - Field Programmable. Some FPGAs can be reprogrammed infinite times and some limited times. Hardware Descriptive Language (HDL) is used to configure FPGA, in a manner similar to the configuration of application-specific integrated circuit (ASIC). In general terms, FPGAs are programmable silicon chips with a collection of programmable logic blocks surrounded by Input/Output blocks that are put together through programmable interconnect resources to become any kind of digital circuit or system.

FPGAs are more reliable than the microprocessors, as they are truly parallel in nature. Each independent task is assigned to the dedicated section on the chip. Therefore, performance of one section is not affected by the other section.

The unique feature of FPGAs to be reprogrammed post manufacturing for fulfilling a specific task makes them beneficial for users. Over the past few years, usage of FPGAs has increased from high-end devices to mid-end and low-end design needs across industries. With FPGAs, device engineering and prototyping is possible in a much lesser time and cost as compared to the traditional ICs. These usages propel the demand of FPGA, in fact, Field Programmable Gate Array market is expected to reach USD 14.2 billion by 2024, according to a new report by Grand View Research, Inc.

Further Enhancements

Ross Freeman, cofounder of Xilinx, developed FPGA in 1985 for the first time and since then it has come a long way. Logic capacity of FPGAs increased with advancements in technology, along with the that demand for FPGAs skyrocketed, as it came to be used in diverse sectors due to its reprogrammable ability.

Types of FPGAs:

Based on programming technology, FPGAs are classified into three types -

• SRAM-based FPGAs: Static RAM cells control pass-transistor, transmission gates, or multiplexers. They can be reprogrammed several times with evolving design, however they require an external memory to support it, as the program is lost every time it is turned off and needs to be reconfigured upon restart.
• Antifuse-based FPGAs: It is antifuse CMOS technology enabled and can be programmed only once. It retains the program even if it is switched off and does away with the need of the external memory.
• Flash-based FPGAs: Floating gate cells are as switches leading to improved area efficiency. They do not end up losing the program when switched off. Also, they don’t require external memory, however, they can’t be reprogrammed infinite times due to charge build up in the oxide.

In United States, SRAM has higher demand among its other variants and dominates the market. This can be aptly understood by the pie chart below.    

                                  

Over the years, there has been a transition in the technologies used for FPGAs. Fuse and Erasable Programmable Read-Only Memory (EPROM) based FPGAs are declining to give way to improved technologies such as the Static Random Access Memory (SRAM) and antifuse-based FPGA technology.

SRAM-based FPGAs are nonvolatile, simple in designing, and consume less power. The flash-based FPGAs are nonvolatile, electrically erasable, reprogrammable, and use single and multi-level memory chip for storing information. Both SRAM and flash based FPGAs are anticipated to experience high demand in the upcoming years.

Applications In Abundance

FPGAs have varied applications across industries. They have been heavily used in the telecom industry, data processing industry, industrial sector, energy and aerospace & defense among others.

• Telecommunications - FPGAs have multiple uses in networking and telecom sector. FPGAs allow system designers to use silicon designs that lets them implement their own designs rather than using others design which may not match their particular requirements. In 2015, the telecom industry contributed heavily to the global FPGA revenue; it is anticipated to continue being the dominant end-use sector in the upcoming years.This is attributed to the exponential increase in mobile phones and growing wireless technology worldwide.
• Energy - Renewable energy sources are the tomorrow of energy sector. They are going to be leveraged on a larger scale by the countries. These energy sources are reliable and are found to be part of smart-grids.Efficient power supply and end-to-end communication is one of the basic requirements of the smart grid. For this reliability, FPGAs are used. It supports hardwired, real-time switch performance and reduced latencies. It meets the performance requirements of Gbps Ethernet traffic with PRP/HSR redundancy and evolving PRP/HSR standards.
• Automotive - In the automotive industry, FPGAs have proved to be extremely efficient for digital signal processing, multi-threading, micro controlling, and parallel processing capabilities.FPGAs allow the automotive OEMs (Original Equipment Manufacturers) to develop innovative solutions and enhancements such as adaptive cruise control, collision avoidance, and blind spot warning. Apart from that, FPGA’s reliability in functioning makes them an ultimate choice for the OEMs.
• Aerospace & Defense -FPGAs are increasingly used in military & aerospace industry for waveform generation and image processing. This sector is all about the extreme conditions that are needed to be handled. Xilinx provides rad-hard and rad-tolerant FPGAs that meet the performance, reliability, and lifecycle demands of extreme environments, while enabling greater flexibility than feasible with traditional ASIC implementations.

Also, FPGAs are used for processing-intensive space systems. These capabilities provide FPGAs an important status and increases its utility in aerospace & defense.

Use of FPGAs is further projected to grow in the consumer electronics, automotive, and military & aerospace industry. Demand for more distinguishing features by consumers in home appliances and other electronic gadgets has boosted the demand for FPGAs in the consumer electronics industry.

Read More: https://www.grandviewresearch.com/industry-analysis/fpga-market

Market Insights

Factors such as the technological efficiency of FPGAs over the Application Specific Integrated Circuits (ASICs), its growing demand across industries, and the technological improvement of FPGA circuits have made it very popular among users. The market growth is expected to be robust in the future. However, the designing complexities of FPGA circuits and their overlapping market to some extent with System on Chips (SOCs) and ASICs may be a barrier to the otherwise growing FPGA market.

Altera and Xilinx are the two major competitors in the market and have been in operation since more than 3 decades. Both of them provide similar products and depend on innovation to gain larger market share globally. Together they hold almost 90% of the market.

Recent Developments

• Intel completes the acquisition ofAltera, corp., a leading provider of FPGA technology. This acquisition is expected to boost Intel’s product portfolio and enables new classes of products in high growth data-centers and IoT market segments.

Intel’s Programmable Solutions Group is showcasing market-leading 58Gbps transceiver technology integrated on the Intel® Stratix® 10 TX FPGA - the world’s first field programmable gate array (FPGA) with 58Gbps PAM4 transceiver technology.

Microcontroller Socket Market Competitive Insight and Key Drivers 2018 – 2024

Geraldine Ferraro once said, that, “It was not so very long ago that people considered that semi-conductors were part-time orchestra leaders & microchips were very, very small snack foods”. It highlights the ingrained ignorance in the common man towards technology and how much we lose due to it. Surely, we’ve come a long way from that, however, it remains to be seen, how much we can leap forward by leveraging today’s tech-savvy world.

Microcontrollers, a small computer on a metal-oxide-semiconductor (MOS) integrated chip has revolutionized the world since the day it was deployed. A typical microcontroller includes a processor, memory and input/output (I/O) peripherals on a single chip. It is dedicated to a single task and makes sure to complete that task efficiently. For example, a microcontroller that is embedded in TV, executes the task of taking input from the remote and displaying the output on the screen. Therefore, they are also known as embedded systems. Now, if they are called as embedded systems then a run-of-the-mill question that takes its head out is, What are they embedded onto?

Microcontrollers Socket

A simple answer to the question posed in the last line of the above passage is PCB, which means Printed Circuit Board with the help of Microcontroller Sockets. Microcontroller sockets, which are also known as IC sockets, are used in the devices containing the integrated circuits and are used as a placeholder for IC chips. The sockets are used for safe insertion and removal of IC chips which may get damaged from soldering. These sockets are used in the applications which require integrated circuit devices with short lead pins helping in insertion and safely removal of IC chips. They are usually used in prototyping the new circuits allowing easy component swapping.

There are several variants of IC Sockets, such as dual-in line package (DIP), quad-flat package (QFP), ball grid array (BGA), small outline packages (SOP) and Small Outline IC (SOIC). There is tremendous amount of demand for the microcontrollers socket, so much so, that the Microcontroller Socket Market is expected to reach USD 1.46 billion by 2024, according to a new report by Grand View Research, Inc.

What Varies In The Variants?

The above noted variants have several differences which makes them suitable to cater to wide range of needs of embedded systems.

• Dual-Inline Package (DIP), also known as DIL package or chip socket, is referred to as the electronic device package with two parallel rows of electrical connecting pins and a rectangular housing. An advantage of this system is that you can still see the PCB traces which otherwise would be covered over by the socket frame. In addition, airflow and thus thermal management is improved.
• Ball Grid Arrays (BGAs)are used for integrated circuits and area type of surface-mount packaging. They are usually preferred for permanently mount devices such as microprocessors and are not suited for socket mounting.
• The Quad Flat Package (QFP)is a type of surface mount IC package which has gull wing leads extending from the four sides. QFP is used to increase the number of pins around the periphery of the package, which has led to a decrease in spacing from 50 mil to 20 or 12 mil (thousands of an inch).
• Small Outline Packages (SOP)is a surface mount package, which is essentially the shrunk version of the standard IC PDIP. The package thickness is typically 70% lesser than the DIP and occupies an area of about 30-50% equivalent or lesser than the DIP. It is majorly used in personal computers and consumer electronics.

The microcontroller socket demand can be easily understood by the pie chart below, for which the data considered was the application potential of the variant. The application areas which were taken into consideration were consumer electronics, automotive, industrial, medical devices and military & defense.  

                      

The application areas which were taken into consideration were consumer electronics, automotive, industrial, medical devices and military & defense. Clearly, it highlights the dominance of Dual-Inline Package (DIP) or chip socket over other variants in the market.

Market Determinants

Factors that boost the growth or inhibits it are crucial for the demand in the market. They can make or break the boom of the concerned sector.

• The growth of automationwhich has led to the miniaturization, digitization, and facilitates dynamics in the field of technology has further enhanced the demand of the market.
• The increasing need of providinghigh performance with power efficiency has further led to the development of automation technology at a rapid pace.
• The increasing labor costs and the growing demand for higher qualityhave encouraged the industry participants to opt for automated equipment in the programming process.
• The increasing demand of sockets in the automotive, consumer electronics, medical devices formore accurate data, and military & defense for enhanced security has also encouraged the industry participants to further reduce the package size.
• The increasing IC packaging developments delivering a high application in a low-cost, low-profile, and low-power designhave led to the market growth of integrated circuits. The competition in the industry is intense, due to which the participants have to enhance their product quality and process technologies as per the market requirements.

Read More@ https://www.grandviewresearch.com/industry-analysis/microcontroller-socket-market

Aggressive Advancements

Socket manufacturers are developing enhanced designs for the purpose of interconnecting solutions for high I/O, fine pitch, low profile applications, and adhering to the severe regulations of performance and reliability. The key industry competitors include Aries Electronics (U.S.), Mill-Max Mfg. Corporation (U.S.), Samtec, Inc. (U.S.), and CNC Tech LLC (U.S.).

• AVNET,a leading global technology solutions provider, has extended its distribution agreement with Samtec, Inc. (U.S.). This development provides Samtec, Inc, greater reach in Asia Pacific region and will go on to boost its market potential.
• Samtec, Inc., a leading provider of high bandwidth and micro-pitch interconnect systems, announced today the acquisition of nMode Solutions, of Oro Valley, Arizona. It also acquired Triton Microtechnologies, which is the subsidiary of nMode Solutions. nMode Smart Modules, RF filters, and evaluation boardssupport the high-performance, high-density demands of the IC Packaging industry. Utilizing Triton Microtechnologies patented Glass Core Technology, nMode designers use the superior performance and material characteristics of glass to achieve significant miniaturization and integration far beyond what is possible with organic materials.

Cognitive Computing Market Top Players, Segments, Cost Structure, Demand, Sales By 2025

Siri, Cortana, Alexa, Watson, Bixby, Viv, M, Google Assistant and the list goes on and on…….

Along with all the above personal assistants in the real world, one of the most famous personal assistants of 21^st century is the one and only ‘Jarvis’ from the movie ‘Iron man’ & ‘Avengers’, big ticket projects from the Marvel Cinematic Universe. The sheer concept of a personal assistant facilitated by technology is groundbreaking and similar is the stature of breakthrough technology which has been leveraged to accomplish it, which goes by the name of, Cognitive Computing.

Cognitive Computing was used for the very first time by IBM. It developed Watson, a unique response-capable computing system, which was built to compete against humans on the popular game show called, Jeopardy. This helped cognitive computing generate ‘hype’ and it was able to attract large number of investments from major companies.

Cognitive Computing has helped make several major breakthroughs in the world of technology. It has been leveraged to achieve greater efficiency and hyper-personalization when it comes to customer satisfaction. The necessity for the major industries to analyze large volume of data optimally on a real-time basis has led to the pervasive growth of the market. The recent development of data storage capabilities, such as integrated cloud storage facilities, and the evolvement of customized cloud solutions, such as private cloud and public cloud, have ensured the security of sensitive data, thus accelerating the growth momentum. So much so that, Cognitive Computing Market is expected to reach USD 49.36 billion by 2025, according to a research report of Grand View Research, Inc.

Comprehending The Meaning & Utility Of Cognitive Computing

Cognitive computing, a term 1^st coined by IBM, is a technology platform based on the scientific premises of signal processing and artificial intelligence. It uses a blend of artificial intelligence, neural networks, machine learning, natural language processing, sentiment analysis and contextual awareness to solve day-to-day problems just like humans.

Cognitive Computing has several benefits, that makes it extremely important to solve advanced set of problems in technology as well as in business arena. It boosts stagnated efficiency of the organizations by accelerating decision making capability; collects real-world knowledge and improves the quality of decisions taken. Apart from this, it also proves to be monumental in rectifying the error-prone businesses by helping them with reforming their business strategies and making them profitable.

The Banking, Financial Services, and Insurance (BFSI) sector is expected to be benefitted the most due to the emergence of the cognitive solution. Cognitive systems enable banks and other financial institutions to structure unstructured data (industry reports, investment advisory reports, and financial news) by leveraging an in-depth text, image, and video understanding. It offers personalized engagement between banks (and other financial institutions) and their customers by dealing each client with a unique fashion according to their requirement.

Read More@ https://www.grandviewresearch.com/industry-analysis/Cognitive-computing-market

Assessing The Segmentation…

Primary segmentation of the market is based on technology types which are absorbed by cognitive computing. Natural Language Processing (NLP) is the most prominent technology used in the cognitive system, owing to its inherent capacity to process natural language interactions with about 40% of the overall market share in 2015. It enabled the human to machine interaction by analyzing large spoken and written languages and comprehending the patterns accordingly The extended usage of automated reasoning, big data, and machine learning technology, along with artificial intelligence and probabilistic logic, has paved the way for a greater development of data science. The recent evolution of Internet of Things (IoT) has also accelerated the growth momentum of the cognitive computing market with its diverse applications in the development of the interactive software platform.

The crystal-clear depiction of the information about the segmentation based on technology, is depicted in the pie chart below. It also highlights the large share of cognitive computing market influenced by Natural Learning Processing.         

                                        

Factors Galore

Quite many factors prove to be a boon as well as a bane for the cognitive computing market. Looking forward, we can say that these following factors push growth, therefore are boon for the market.

• Advent of Artificial Intelligence & Internet of Things (IoT)is one of the major factors which provides fresh impetus to the demand in the cognitive computing market.
• Cloud Computinghas taken the tech-savvy world by storm and has made it feasible to securely store a large amount of data by taking into account a number of challenges, such as live migration of data, fault tolerance, and quality of service. This drives up the demand for cognitive computing.
• Data proliferation and its importance in making the right decisions, has made data analysis one of the most important process before indulging into decision-making. Cognitive computing provides capability to assess large amount of data in short time and boosts the efficiency in decision making ability, leading to the higher demand from error-prone businesses.

Factor that doesn’t bode well for the market:

• Constant rise in cyberthreats makes the technology vulnerable to attacks, providing an impeding factor to the growth of the market.

Gauging the pros & cons, it is safer to say that pros of the budding technology overcompensate for the cons associated with it. Also, availability of tighter regulations, expertise and assistance plays a significant role in alleviating the problem caused by cyberthreats, making the cyberworld a safer place to thrive in.

Technological Advancement Shifts Into High Gear

New technology’s success is rated according to the number of diverse sectors that it can be applied to and make its mark. It is a no-brainer to say that cognitive computing’s ability to touch diverse sector is immense. Finance, Sports & Entertainment, Healthcare… you name it; cognitive computing has shown its ability to push efficiency in large number of sectors. Following examples are the proofs.

• VantagePoint AI software makes it easier for the investors to bet their investments on a better option with 86% of accuracy. According to Vantagepoint’s website, its patented Neural Network processes predict changes in market trend direction up to three days in advance, enabling traders to get in and out of trades at optimal times with confidence.
• Concierge by Welltok, is a cognitive-powered tool, that can assess large volumes of data to make personalized health related recommendations. It is an AI-powered chatbot, built with the help of IBM Watson Health, able to provide on-demand answers to questions related to benefits and healthcare
• Edge Up Sports is the cognitive-powered app to help fantasy football players, by providing on-demand information about their selected player or teams. Apart from this, it has also moved on to leverage the technology to reduce sports injuries and help players & coaches become efficient.

Demand Response Management System Market is Expected to Amplify $35.9 Billion Value by 2025

The presence of DRMS is a win-win situation for everybody - for the utility, for the customer, and most importantly for the environment. Let’s have a deeper look into this system and its market

Picture this: it’s a very hot summer day, and the sweltering heat is taking its toll on office goers and residents alike. Worry not though, you have the utility companies to count on, when they provide a steady, continuous supply of energy to power the cooling of the building. Same would be the case for a cold winter day, when the utility companies provide energy to power the heating equipment, so that you are warm and cozy inside the buildings. However, such extreme weather would definitely place a heavy load on the utility systems, and if the supply source gets depleted, then you will have to sweat it out in the summer, or hope against hope for some warmth in the cold. There needs to be a system which can manage energy supply of the utility companies in a better way, doesn’t it?

A Way Out….

Turns out, thankfully, there is. It comes in the form of Demand Response Management System (DRMS). Simply put, you can reduce your energy demand during peak demand periods, or when the supply is not enough, in return for money. Some common examples include turning up the thermostat temperature for reducing the air conditioning load, switching off lights when not in use, and shifting usage of certain energy-consuming devices out of the peak demand period so that the load is reduced significantly. Demand response management system comes under the concept of smart energy demand, besides energy efficiency, distributed renewable resources, EV charging, and home & building energy management.

ADR Is Receiving A Great Deal Of Attention From The Utility Sector!

Smart grids have become a very crucial component in almost every known environment. Airports, broadband, dams, hospitals, ports, roads, telecommunication - you name it, and there it is! The smart grid infrastructure comprises the deployment of Advanced Metering Infrastructure (AMI) for Automated Demand Response (ADR), which provides two-way communication in real time between the consumers and service providers. ADR has had a huge role to play in the growth of the demand response management system market. With electric utilities transitioning toward grid modernization, their business model has shifted from solely fulfilling energy requirement, to playing a larger and more proactive role in the integration of distributed energy resources, managing energy demand, and optimizing electricity generation.

AMI is an integrated demand response management system, consisting of hardware, software, and services, which forms a network between the customers participating in the Demand Response (DR) program and power utility by transferring consumption data of the user to the meter data management software at the utility. The system collects, measures, collates, and analyzes consumption data of many customers at a given point of time and sends DR signals to the smart meters or load control switches at the user’s end to adjust or shift their usage from peak to non-peak hours. Participation in the program requires a functional Home Area Network (HAN) and installation of smart meters, smart thermostats, and load control switches.

Demand Response Management System Requires The Support Of Its Customers

Customer participation depends on the type of building they are enrolling:

• Behavioral demand response- Involves manual customer participation, and is suited for large industrial or commercial facilities that have a substantial and flexible energy load. Also requires on-site staff to heed to utility requests.
• Automated demand response- Suited to every building type, small or large. Customers can work with an aggregator or partner for automated participation, with the partner looking after enrollment, strategy development, event execution, and reporting.

Customer participation is central to the success of Demand Response Management System (DRMS). The program is not forcible on electricity users but requires them to participate and reduce energy consumption. Utilities motivate participants for reducing their electricity consumption during pre-defined hours by providing incentive-based and price-based benefits. The program equally requires efforts from the service providers to manage peak load crisis and optimize the distribution system.

How Is The Market ‘Utilizing’ This System?

There is lower applicability of Demand Response Management System in the residential sector as compared to the industrial and commercial sectors. Primarily, aggregators are responsible for the application of DRMS in the residential sector. They contact the households individually through phone calls, messages, or e-mails. The OpenADR 2.0 uses AMI, which has access to data from a large number of endpoints at the same time. The DR interaction is based on a Common Information Model (CIM), which uses the standard IP communication. DR signals are sent to the customers’ control system to reduce consumption.

Recent trends in the demand response management systems market highlight the growing participation of companies in ADR. Companies such as Enel X and Comverge have an early market entry advantage and account for a considerable revenue share of the industry. Owing to a strong market presence and customer relationship, large integrated companies such as Siemens AG and Honeywell International Inc. have been quick to catch up with their DR technology.

By 2025, the hardware component is anticipated to account for more than 50% of the revenue share of the DRMS market. The U.S. is expected to lead the demand response management system market owing to the growing adoption of the smart grid technology. Pilot operations for ADR have been implemented in many countries where the technology has not been implemented yet.

In The Spotlight…

Some of the major companies involved in the demand response management system industry include Enel X (formerly EnerNoc Inc.), Comverge (acquired by Itron), CPower, Honeywell International Inc., Schneider Electric, Siemens AG, and ABB, all of which are the founding pillars of the OpenADR alliance that was established in 2010. The DR program also includes Johnson Controls, Eaton Corporation Plc, Ecobee, EnergyHub Inc., General Electric, Nest Labs, Opower (acquired by Oracle in 2016), and ThinkEco Inc.

Read More@ https://www.grandviewresearch.com/industry-analysis/demand-response-management-systems-drms-market

Some of the recent developments that the demand response management system market has seen include:

• Enel X(formerly EnerNoc) partnered with a leading European infrastructural investor ‘Infracapital’ in January 2020, to expand their distributed generation and energy efficiency joint venture called ‘Cogenio’, throughout Spain through the creation of a new company.
• Honeywellhas expanded on its DemandSites energy asset management platform, which can now be deployed as a modular solution that grants more granular control to utilities over their IT/OT environments. New modular additions include Virtual Power Plant (VPP), DR over AMI, Fast Frequency Response (FFR), Transactive Energy (TE), and EdgeControl Node (ECN).
• Itronentered into an agreement with Xcel Energy which would allow for improvements in customer experience and utility operations by making use of the distributed intelligence capabilities of Itron’s IoT  Another objective of Xcel through this partnership is to improve customer control with the ability to effectively optimize demand response and dynamic pricing programs.
• Leap, a California-based company that provides a universal distributed energy exchange along with allowing automated trading on energy markets in real-time, partnered with Google Nestin 2019 on a program that provides flexible, automated demand capacity to CAISO (California Independent System Operator), which oversees the electric power system operations in the state.