Wireless Mesh Network Market Expected To Propel Industry Growth By 2030: Grand View Research Inc.

 Wireless Mesh Network Market Growth & Trends

The global wireless mesh network market size is expected to reach USD 15.95 billion by 2030, registering a CAGR of 8.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. In the Internet of Things (IoT) platforms, mesh networking is a viable method for managing device-to-device communication. With its assistance, IoT networks may operate more quickly and effectively without needing expensive gear or burning excessive electricity. The increasing adoption of wireless communication mediums and the usage of IoT and Artificial Intelligence (AI) have been major factors driving the global market growth. In addition, the growing opportunities in the oil & gas industries and the development of smart cities & infrastructure have led to increased adoption of Wireless Mesh Networks (WMN).

The industry has been expanding owing to the rising demand for reliable, efficient network performance and the flexibility of WMNs to expand and improve performance. Furthermore, rising mobile device adoption and mobile device penetration both contribute to the expansion of this industry. In addition, the growth is aided by the rising demand for WMNs from small- and medium-sized businesses. Environmental monitoring and precision agriculture are two areas where WMNs are gaining prominence. The farming sector uses automation and technology to boost profitability and cut operating costs. The use of sensors in fields, tractors, and vineyards for monitoring and managing farm operations has recently encouraged the expansion of the WMN industry, resulting in improved crop output and less resource waste.

The use of high-frequency WMNs for precision farming and tractor automation has increased the demand for these networks. Low-frequency WMNs using sensor networks are utilized for environmental condition monitoring. Technological innovations are being possible as IoT sensors and smartphones are integrated into a seamless wireless network. Mesh connectivity, in particular, will reduce the strain on the healthcare communications system, enhance patient care, streamline processes, manage assets, and better use scarce resources. For instance, Wyld Networks has created a WMN solution to construct a decentralized communication network connecting smartphones and IoT sensors directly to one another and enhancing any existing Wi-Fi and 4G coverage.

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Wireless Mesh Network Market Report Highlights

• Mesh network has numerous applications in smart cities owing to the requirement for automation and high-technology wireless connectivity
• The growing internet and telephone connectivity primarily drive the industry owing to the increasing prominence of AI-based technologies
• North America dominated the global industry in 2022 and will remain dominant during the forecast period due to tremendous growth in WMN technology in the U.S. and Canada
• The durability and flexibility of WMNs have increased their appeal among businesses over the past few years
• Leading industry players are focusing on enhancing their product and service portfolios to tap into the global market

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Wireless Mesh Network Market Segmentation

Grand View Research has segmented the global wireless mesh network market based on radio frequency, application, end-use, and region:

Wireless Mesh Network Radio Frequency Outlook (Revenue, USD Million, 2017 - 2030)

• Sub 1GHz
• 4 GHz
• 9 GHz
• 5 GHz

Wireless Mesh Network Application Outlook (Revenue, USD Million, 2017 - 2030)

• Home Networking
• Video Surveillance
• Disaster Management & Rescue Operations
• Medical Device Connectivity
• Traffic Management

Wireless Mesh Network End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Education
• Government
• Healthcare
• Hospitality
• Mining
• Oil & Gas
• Transportation & Logistics
• Smart Cities & Warehouses
• Others

Wireless Mesh Network Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players in the Wireless Mesh Network Market

• Aruba Networks Inc.
• BelAir Network Inc.
• Cisco Systems, Inc.
• Firetide, Inc.
• Rajant Corp.
• Ruckus Wireless, Inc.
• Strix Wireless Systems Pvt. Ltd.
• Synapse Wireless, Inc.
• Tropos Networks, Inc.
• ZIH Corp

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.

Natural Language Processing Market Overview, Analysis And Forecast To 2030: Grand View Research Inc.

 Natural Language Processing Market Growth & Trends

The global natural language processing market size is estimated to reach USD 439.85 billion by 2030, expanding at a CAGR of 40.4% from 2023 to 2030, according to a new study by Grand View Research, Inc. Machine learning is predicted to play a critical role in natural language processing (NLP) techniques, mostly in text analytics, as AI advances. In the future, unsupervised and supervised learning will enable machine-learning engines to undertake more in-depth assessments. According to their ongoing evolution, social media platforms are expected to play a superior role in business decisions. A company, for instance, can rely on several NLP tools to track customer evaluations, feedback, and comments about their business on social media platforms and in the news around the time of a quarterly report.

Factors such as increased usage of smart devices to facilitate smart environments boost market growth. Additionally, the demand for NLP technologies is expanding owing to the rising demand for sophisticated text analytics and increasing internet and connected device usage. In addition, NLP-based apps are increasingly being used across industries to enhance customer experience. Additional profitable market expansion potentials are anticipated due to rising healthcare sector investments. However, constraints in the development of NLP technology utilizing neural networks and complexity associated with the use of code-mixed language during the implementation of NLP solutions constrain the use of cloud-based services, which can create hindrances for market growth.

Companies with huge amounts of spoken or unstructured text data can effectively discover, collect, and analyze dark data issues to the growing pragmatic application of NLP. The usage of NLP is anticipated to increase in areas like semantic search and intelligent chatbots that need to comprehend user intent. The abundance of natural language technologies is expected to endure to shape the communication capability of cognitive computing and the expanding utilization of deep learning and unsupervised and supervised machine learning. Intelligent data for businesses to develop plans, NLP is essential for tracking and monitoring market intelligence reports.

Natural language processing is gaining popularity in the healthcare sector due to the search, analysis, and understanding of massive volumes of patient data. Machine learning in healthcare and NLP technology services can extract pertinent concepts and insights from data previously thought to be buried in text form using advanced medical algorithms. In healthcare media, NLP can effectively give voice to unstructured data, providing great insight into understanding quality, enhancing processes, and increasing patient outcomes. For Instance, In July 2022, Google released a free tool called AutoML Entity Extraction for Healthcare, which is also low-code for healthcare professionals with limited coding expertise. Moreover, it is used to develop Healthcare Natural Language models customized to derive more specific information from medical data, which helps understand more essential details in medical records.

North America is one of the most important marketplaces for natural language processing owing to the early adoption of advanced technologies in the countries from the region. The U.S. has an advantage in innovation because it is home to the majority of the key vendors in the industry. Additionally, the regional governments are promoting AI, ML, and NLP technologies, creating a favorable environment for market vendors to increase their presence in the region.

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Natural Language Processing Market Report Highlights

• The healthcare segment appeared as the largest segment in the terms of revenue share throughout the forecast period. However, the IT & Telecommunication segment is projected to expand with the highest growth rate
• Data extraction emerged as the largest segment in 2022 and is projected to generate revenue of over USD 77.00 billion by 2030
• Asia Pacific is projected to witness the highest CAGR of 42.7% and is estimated to reach USD 115.24 billion by 2030. The NLP market is projected to expand with rising demand for better customer experiences, growing smart device usage, and expanding application options

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Natural Language Processing Market Segmentation

Grand View Research has segmented the global natural language processing market based on component, deployment, enterprise size, type, application, end-use, and region:

Natural Language Processing Component Outlook (Revenue, USD Million, 2017 - 2030)

• Solution
• Services

Natural Language Processing Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Cloud
• On-Premises

Natural Language Processing Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Natural Language Processing Type Outlook (Revenue, USD Million, 2017 - 2030)

• Statistical NLP
• Rule Based NLP
• Hybrid NLP

Natural Language Processing Application Outlook (Revenue, USD Million, 2017 - 2030)

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

Natural Language Processing End-use Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• IT & Telecommunication
• Healthcare
• Education
• Media & Entertainment
• Retail & E-commerce
• Others

Natural Language Processing Regional Outlook (Revenue, USD Million, 2017 - 2030)

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

List of Key Players of the Natural Language Processing (NLP) Market

• 3M
• Apple Inc.
• Amazon Web Services, Inc.
• Baidu Inc.
• Crayon Data
• Google LLC
• Health Fidelity
• IBM Corporation
• Inbenta
• IQVIA
• Meta Platforms Inc.
• Microsoft Corporation
• Oracle Inc.
• SAS Institute Inc.

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.

Mobile Device Management Market Is Ready To Grow Globally With Phenomenal Trend Diversity by 2030

 Mobile Device Management Market Growth & Trends

The global mobile device management market size is expected to reach USD 28.37 billion by 2030, registering a CAGR of 24.2% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The market is expected to witness growth due to the increasing adoption of mobile devices in the workplace and the need to secure and manage them. With the proliferation of smartphones, tablets, and other mobile devices, employees are increasingly using their personal devices for work purposes. This trend, commonly referred to as Bring Your Own Device (BYOD), has led to an increase in the number of mobile devices that need to be managed and secured within an organization. Mobile device management (MDM) solutions provide a centralized platform for managing & securing mobile devices, including the ability to enforce security policies, monitor device usage, and remotely wipe data in case of loss or theft.

As more organizations adopt BYOD policies or provide employees with company-owned mobile devices, the demand for MDM solutions is expected to continue to grow. Furthermore, the adoption of mobile devices has been further accelerated by the COVID-19 pandemic, as remote work has become the norm for many organizations. As employees work from home or other locations outside of the traditional office, the need for MDM solutions to manage and secure employee devices outside of the organization’s network perimeter has increased. However, the mobile device landscape is highly fragmented, with a wide range of operating systems, device types, and versions in use. This fragmentation makes it difficult for MDM solutions to provide comprehensive management and security across all devices.

Thus, considering it a challenging factor in the market. MDM solutions need to support a wide range of operating systems, including iOS, Android, Windows, and macOS, as well as different device types, such as smartphones, tablets, laptops, and wearables. They also need to support different versions of these operating systems and devices, which can further complicate the management and security of these devices. To address this challenge, MDM vendors are increasingly focusing on providing cross-platform support for a wide range of operating systems and devices. They are also leveraging technologies, such as Application Programming Interfaces (APIs) and Software Development Kits (SDKs), to provide more seamless integration with different devices and operating systems.

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Mobile Device Management Market Report Highlights

• The software segment is anticipated to observe a significant CAGR during the forecast period. The increasing number of mobile devices used in the workplace has made it difficult for organizations to manage and secure their devices. MDM software provides a centralized platform to manage and secure mobile devices, making it easier for organizations to maintain control over their devices
• The cloud segment is anticipated to observe the fastest CAGR during the forecast period. Cloud-based MDM solutions offer a convenient, secure, and cost-effective way for organizations to manage and secure their mobile devices. They provide various benefits that can help organizations improve their efficiency and productivity while protecting their sensitive data
• The laptops segment is anticipated to record a considerable CAGR during the forecast period. MDM solutions are becoming increasingly important for managing laptops in enterprise environments. They provide additional security controls, simplify app deployment, enable remote management, and help organizations meet compliance requirements
• The IOS segment will witnesssteady growth from 2023 to 2030. MDM solutions can provide IOS devices with a security control to protect corporate data and applications. These solutions allow IT administrators to remotely manage device settings, enforce security policies, and control access to corporate resources
• The enterprises segment will have high growthas enterprises are increasingly adopting MDM solutions to manage and secure the growing number of mobile devices used by their employees
• Small and Medium-sized Enterprises (SMEs) are also anticipated to have significant growth during the forecast period. SMEs increasingly adopting MDM solutions, driven by the growing use of mobile devices in the workplace and the need for improved security & device management
• The retail segment will register the fastest CAGR during the forecast period. Retailers have increasingly adopted MDM solutions to streamline device management, increase security, and improve employee productivity. MDM solutions can help retailers manage a large number of devices across multiple locations, ensuring that devices are up-to-date with the latest security patches and software updates
• Asia Pacific is expected to have the fastest CAGR from 2023 to 2030 owing to rising disposable incomes, increasing internet penetration, and growing demand for mobile devices in emerging economies, such as India and China. The region is also home to a large number of SMEs that are increasingly adopting MDM solutions to manage and secure their mobile devices

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Mobile Device Management Market Segmentation

Grand View Research has segmented the global mobile device management market based on solution, deployment, device type, operating system, end-use, enterprise size, vertical, and region:

Mobile Device Management (MDM) Solution Outlook (Revenue, USD Million, 2018 - 2030)

• Software
  • Device Management
  • Application Management
  • Security Management
  • Others
• Service
  • Professional Services
    • Consulting
    • Integration
    • Support and Maintenance
  • Managed Services

Mobile Device Management (MDM) Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• On-premise

Mobile Device Management (MDM) Device Type Outlook (Revenue, USD Million, 2018 - 2030)

• Smartphones
• Laptops
• Tablets
• Others

Mobile Device Management (MDM) Operating System Outlook (Revenue, USD Million, 2018 - 2030)

• Android
• IOS
• Windows
• Others

Mobile Device Management (MDM) End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Personal/Home Use
• Enterprises

Mobile Device Management (MDM) Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Small & Medium-sized Enterprises (SMEs)
• Large enterprises

Mobile Device Management (MDM) Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• IT & Telecom
• Retail
• Healthcare
• Education
• Transportation & Logistics
• Manufacturing
• Government
• Others

Mobile Device Management (MDM) Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Mobile Device Management (MDM) Market

• SOTI, Inc.
• Manage Engine
• Microsoft Corp.
• IBM
• Cisco Systems
• SAP SE
• Broadcom, Inc.
• VMware
• Citrix Systems
• Kaspersky Labs
• Ivanti
• Micro Focus
• Zoho Corp. Pvt. Ltd.
• SolarWinds
• Jamf

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 Transportation Market to Incur Meteoric Growth During The Forecast Period| Top Industry Players General Electric Company (GE); Indra Sistema S.A.

 

Smart Transportation Market Growth & Trends

The global smart transportation market size is expected to reach USD 285.12 billion by 2030 and is expected to expand at 13.0% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The requirement for an efficient management system for seamless transportation services is predicted to increase, as the number of cars on-road grows and existing transportation infrastructure becomes ineffective.

Favorable government actions aimed at improving infrastructure and easing the transition toward an effective transportation system are expected to aid sector growth. By reacting to specific data on the peaks and troughs of passenger service, artificial intelligence (AI) and the internet of things (IoT) can help balance operations. Smart transportation technology will provide customers with detailed transportation information, such as actual arrival information to prevent waiting at crowded platforms, and instant visibility and alerts for trouble spots or issues affecting citywide congestion on public streets.

As smart transportation has become a vital aspect of the global smart city initiative, increasing investments in smart city solutions are expected to provide new avenues for market growth over the forecast period. Growing adoption of smart transportation solutions by government authorities has led to enhanced security & supply chain resiliency as well as environmental considerations. Furthermore, it has also added key benefits such as better management, security, and efficiency of transport systems in cities. Hence, several vendors are expected to develop and expand new products and solutions.

For instance, in September 2022, Accenture plc announced the acquisition of MacGregor Partners, a supply chain & logistics company. The acquisition enabled the company to expand its fulfillment transformation capabilities and supply chain network driven by Blue Yonder technology, an omnichannel fulfillment mechanism. Moreover, a team of over 100 employees from MacGregor Partners joined Accenture plc's intelligent platform services division, which brings extensive expertise in assisting businesses from various industries with the implementation of Warehouse Management Systems (WMS) and Transportation Management Systems (TMS).

The need for significant capital to replace the current infrastructure with an updated technical system is anticipated to impede industry expansion. The current system's prolonged downtime for replacement could hinder its development and have an impact on daily commuter activity. Similarly, the European Union (EU) has continued to use Dedicated Short-range Communication (DSRC) as its communication technology protocol. Therefore, a lack of uniformity also remains a challenge for the growth of the market.

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Smart Transportation Market Report Highlights

• The cloud service is anticipated to emerge as the fastest-growing service segment over the forecast period, owing to the demand for cloud-based solutions to better manage data and storage. The demand for cloud services is bolstered by smart transportation, which offers reliable data and real-time visibility to local transportation agencies and businesses
• The parking management system is anticipated to emerge as the fastest-growing solution segment over the forecast period. The parking management system is expected to boost growth, owing to increased urbanization. It has resulted in increasing parking resource prices and a reduction in real estate space, which are expected to drive market growth
• The APAC market is estimated to be the fastest-growing regional segment over the forecast period, offering lucrative growth opportunities for industry players. The need for better transportation is expected to increase as a key element driving the expansion of the smart transportation industry in APAC, as increased car usage creates more parking problems

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Smart Transportation Market Segmentation

Grand View Research has segmented the global smart transportation market based on solution, service, and region.

Smart Transportation Solution Outlook (Revenue, USD Billion, 2018 - 2030)

• Ticketing Management System
• Parking Management System
• Integrated Supervision System
• Traffic Management System

Smart Transportation Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Cloud Services
• Business Services
• Professional Services

Smart Transportation Regional Outlook (Revenue, USD Billion, 2018 - 2030)

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

List of Key Players in the Smart Transportation Market

• Accenture PLC
• Alstom, SA
• Cisco System, Inc.
• Cubic Corporation
• General Electric Company (GE)
• Indra Sistema S.A.
• International Business Machines Corporation
• Kapsch
• LG CNS Corporation
• Xerox Holdings Corporation

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 Thermostat Market Size, Share, Trends, Analysis And Growth Forecast To 2030: Grand View Research Inc.

 Smart Thermostat Market Growth & Trends

The global smart thermostat market size is anticipated to reach USD 13,345.0 million in 2030 and is expected to expand at a CAGR of 17.1% from 2023 to 2030. The growth can be credited to the growing demand for smart thermostats across smart homes. Smart thermostats enable users to remotely control their air conditioning and heating systems using wireless connectivity and mobile apps. The adoption of these gadgets driven by their ability to display energy consumption levels in real-time and adjust the ambient conditions automatically favors the expansion of the market.

Smart thermostat devices are equipped with analytics and performance measurement tools through web-based portals, which make them an integral part of the home automation ecosystem. Besides, energy utility retailers also play a vital role in impelling the adoption of these devices in households. Several utilities include these products as a part of their home energy management schemes.

The growth of the market is being further proliferated by the growing penetration of smartphones, rising per-unit energy costs, the need for effective energy management solutions, and favorable regulatory scenarios. The increased penetration of Near Field Communication (NFC) and ZigBee home automation devices is expected to augment the demand for smart thermostats.

Several major companies, such as Philips (Philips Heu), Amazon (Amazon Echo), Ikea, etc. rely on ZigBee for their product automation. According to the Zigbee Alliance statement, over half a billion Zigbee chipsets were sold in 2021 and around 4 billion are expected to be sold by 2023. This makes the technology a popular Internet of Things (IoT) standard used across millions of devices.

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Smart Thermostat Market Report Highlights 

• In terms of end-user, the commercial segment is expected to record the highest CAGR of nearly 19.0% from 2023 to 2030. The growth can be credited to increased product demand for effective temperature distribution and high cost-efficiency
• North America is set to capture a sizeable market share of more than 58.0% by 2030, owing to the favorable regulatory environment and increasing infrastructure development activities
• Among products, the learning segment is expected to grow at the fastest CAGR of 18.9% during the forecast period. The growing demand for online learning modules and their cost-effective nature remain the prominent growth drivers

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Smart Thermostat Market Segmentation

Grand View Research has segmented the global smart thermostat market based on technology, product, end-user, and region:

Smart Thermostat Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Wi-Fi
• ZigBee
• Others

Smart Thermostat Product Outlook (Revenue, USD Million, 2018 - 2030)

• Connected
• Standalone
• Learning

Smart Thermostat End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Residential
• Commercial
• Industrial

Smart Thermostat Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players in the Smart Thermostat Market

• Google Nest
• Honeywell Home
• ecobee
• Emerson
• Johnson Controls
• Control4
• Vine Connected Corporation
• Resideo Technologies, Inc.
• Netatmo SA
• Tado GmbH
• Siemens
• Lux Products Corporation
• Centrica Hive Limited

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.

Predictive Maintenance Market Forecasted to Grow at Steady Pace During 2022-2030: Grand View Research Inc.

 Predictive Maintenance Market Growth & Trends

The global predictive maintenance market size is projected to reach USD 60.13 billion by 2030, registering a CAGR of 29.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. The advancement in technologies such as AI and ML has been a major factor in driving the growth of the predictive maintenance market over the forecast period. AI and ML technologies enable analysing historical data, identifying patterns, and offering accurate machine failure and maintenance predictions. AI technology will continue to improve over time as it receives more data, thereby helping improve the accuracy and reliability of predictive maintenance solutions, which would help companies reduce machinery breakdown and halt production, which helps improve operational efficiency and productivity.

The application of predictive maintenance solutions in industries such as healthcare, energy, transportation, and others has been another major factor driving the market's growth, as many companies started recognizing the potential benefits of installing predictive maintenance solutions. Companies are opting for digital transformation to ensure operational excellence; this trend will further accelerate the adoption of the predictive eminence solution, which is integrated with technologies such as IoT, AI, and ML. However, this limitation includes concerns regarding data price, complex interaction processes, and skill gaps, among others.

The predictive maintenance solution providers have been constantly improving the functionalities of the offering, which has been gaining traction in the market. Integrated platforms, such as a combination of predictive maintenance systems and smart technologies such as asset management, enterprise resource planning, and condition monitoring, are witnessing increased consumer adoption rates. The availability of such solutions would enable businesses to facilitate data-driven decision-making, improve efficiency; productivity, and optimize resources, among others.

The advancement in cloud computing technologies has positively impacted the predictive mainline market, as cloud-based solutions offer scalability and flexibility in managing infrastructure and processing a large amount of data generated by the sensors integrated into the machinery. The delivery of cloud-based predictive maintenance solutions has made them more accessible to a wider range of audiences, especially SMEs, owing to eliminating the cost of IT infrastructure requirements. Another major trend in the predictive maintenance market is the integration of technologies such as AR and VR, which enable technicians to visualize the health data of the equipment and repair & maintenance procedures to be followed. AR and VR tools further help improve the efficiency and effectiveness of the repair works by reducing the chances of error.

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Predictive Maintenance Market Report Highlights

• The service segment is projected to witness the highest CAGR of 31.0% from 2023 to 2030. The growth of the service segment can be attributed to service providers using numerical evaluation to create predictive models that predict equipment breakdowns and servicing needs.
• The integrated segment is projected to witness the highest CAGR of 29.5% from 2023 to 2030. The growth of the integrated segment can be attributed to ERP and CRM integrated solutions enabling improved efficiency and productivity.
• The training & consulting segment is projected to witness the highest CAGR of 31.5% from 2023 to 2030. The growth of the training & consulting segment can be attributed to a customized predictive maintenance strategy to enable catering to a wide range of businesses considering factors such as the machinery being used, maintenance information, and workflow, among others.
• The cloud segment is projected to witness the highest CAGR of 37.9% from 2023 to 2030. The growth of the cloud segment can be attributed to the ability to analyse large volumes and data and offer accurate information on the expected machinery failure maintenance/repair schedule, among others.
• Small and medium enterprises are projected to witness the highest CAGR of 31.6% from 2023 to 2030. The small and medium enterprises' growth can be attributed to the lower cost of cloud-based predictive maintenance solutions, enabling small and medium enterprises to avoid upfront investment into IT infrastructure.
• The oil analysis segment is projected to witness the highest CAGR of 31.5% from 2023 to 2030. The growth of the oil analysis segment can be attributed to information provided by the predictive penitence solution, including oil change, contamination, and changes in other chemical properties, among others.
• The aerospace & defense segment is projected to witness the highest CAGR of 30.6% from 2023 to 2030. The growth of the aerospace & defense segment can be attributed to AI and MLintegrated predictive maintenance solution ability to proactively monitor the health of the asset, predict potential failure, and schedule repair & maintenance, among others.
• The Asia Pacific region is projected to witness the highest CAGR of 31.8% from 2023 to 2030. The growth of the Asia Pacific region can be attributed to increasing purchasing power, improving digital infrastructure, availability of cheaper predictive mainline solutions owing to the easy availability of raw materials, and advancement in 5G technology, among others.
• The companies in the predictive maintenance market have been coming up with strategic initiatives such as partnerships and mergers, among others, aimed at gaining traction in the market. For instance, in February 2023, Boon Logic, a provider of AI-based solution detectors, partnered with Software AG as a Premier member of the latter company’s PartnerConnect partner program to provide AI-enabled high-speed prediction service conditions for all complex assets. Through this partnership, the firms aimed to provide valuable insights related to the health and status of equipment to avoid failures.

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Predictive Maintenance Market Segmentation

Grand View Research has segmented the global predictive maintenance market on the basis of component, solution, service, deployment, enterprise size, monitoring technique, end use and region:

Predictive Maintenance Component Outlook (Revenue, USD Billion; 2018 - 2030)

• Solution
• Service

Predictive Maintenance Solution Outlook (Revenue, USD Billion; 2018 - 2030)

• Integrated
• Standalone

Predictive Maintenance Service Outlook (Revenue, USD Billion; 2018 - 2030)

• Integration and Deployment
• Support & Maintenance
• Training & Consulting

Predictive Maintenance Deployment Model Outlook (Revenue, USD Billion; 2018 - 2030)

• Cloud
• On-premise

Predictive Maintenance Enterprise Size Outlook (Revenue, USD Billion; 2018 - 2030)

• Small & Medium Enterprises
• Large Enterprises

Predictive Maintenance Monitoring Technique Outlook (Revenue, USD Billion; 2018 - 2030)

• Torque Monitoring
• Vibration Monitoring
• Oil Analysis
• Thermography
• Corrosion Monitoring
• Others

Predictive Maintenance End Use Outlook (Revenue, USD Billion; 2018 - 2030)

• Aerospace & Defense
• Automotive & Transportation
• Energy & Utilities
• Healthcare
• IT & Telecommunications
• Manufacturing
• Oil & Gas
• Others

Predictive Maintenance Regional Outlook (Revenue, USD Billion; 2018 - 2030)

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

List of key players of Predictive Maintenance Market

• Accenture plc
• Cisco Systems, Inc.
• General Electric
• Honeywell International Inc.
• Hitachi, Ltd.
• IBM Corporation
• Microsoft
• PTC
• Robert Bosch GmbH
• Rockwell Automation
• SAP SE
• SAS Institute
• Schneider Electric SE
• Siemens
• Software AG

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.

Packaging Machinery Market is Likely To Touch $66.14 Billion by 2030: Grand View Research Inc.

 

Packaging Machinery Market Growth & Trends

The global packaging machinery market size is expected to reach USD 66.14 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 4.6% over the forecast period. A significant increase in the demand for convenience food products is driving industry growth. Convenience food includes all types of packaged food products. The demand for packaged food is mainly contributed by the millennial and gen-z customers who are more inclined towards ease and convenience. The industry growth is also attributed to the rising need for differentiation in retail shops since customers are demanding greater product diversity and a wider range of products.

Packaging differentiation calls for the attention of the customer by using unique sizes, shapes, and materials. This subsequently leads to an increasing inclination of manufacturers toward unique packaging styles and drives product growth. Packaging equipment is used in the pharmaceutical industry for packaging medicines and drugs in a safe environment. The pharma industry has witnessed significant growth over the last decade owing to the increased demand for pharmaceutical drugs in BRICS and MIST countries. The development of new generic drugs and medicines has also fueled the pharma industry's growth. The growing e-commerce industry across the world, rising internet penetration & number of e-commerce players, changing lifestyles, and developments in logistics are facilitating the growth of e-commerce shopping.

Packaging equipment is required throughout the e-commerce supply chain stages. Therefore, a rise in the e-commerce industry is expected to propel the packaging equipment industry growth over the forecast period. The market experienced a setback during the COVID-19 pandemic. As a result of supply chain disruption and lack of workforce availability, product demand was impacted. A high number of COVID-19 cases across the globe affected consumer shopping at retail shops and convenience stores. Key companies are actively focusing on strategies, such as technological developments, joint ventures, mergers, and acquisitions, to strive in the competitive industry. In Feb 2022, SIG Combibloc Group Ltd. acquired packaging company, Scholle IPN. It enables SIG to offer sustainable low-carbon packaging solutions across various product types and sizes.

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Packaging Machinery Market Report Highlights

• The form-fill-seal segment is expected to register the fastest CAGR during the forecast period. Many businesses prefer to use FFS systems as they provide additional advantages, such as versatility and speed
• The need to store a variety of clinical products has resulted in high demand for carton machines from the healthcare sector, which is expected to generate profitable growth opportunities for this industry
• The food end-use segment held the largest revenue share in 2021 owing to the increased demand for packaged food products brought on by improving standards of lifestyle, rising disposable income, and a growing middle-class population
• Asia Pacific is estimated to be the largest as well as the fastest-growing regional market due to the rising need for highly integrated & automated equipment and favorable packaging & labeling laws in the region
• In September 2020, Krones AG, in partnership with Innocent (Fresh Trading Ltd.), built a new CO2-neutral bottling plant in the Port of Rotterdam. Innocent has invested around USD 250 million in the bottling plant

Access Press Release@ https://www.grandviewresearch.com/press-release/global-packaging-machine-market

Packaging Machinery Market Segmentation

Grand View Research has segmented the global packaging machinery market on the basis of machine-type, end-use, and region:

Packaging Machinery Machine-type Outlook (Revenue, USD Billion, 2017 - 2030)

• Filling
• Labeling
• Form-Fill-Seal
• Cartoning
• Wrapping
• Palletizing
• Bottling Line
• Others

Packaging Machinery End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Beverages
• Food
• Chemicals
• Personal Care
• Pharmaceuticals
• Others

Packaging Machinery Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE

List of Key Players of Packaging Machinery Market

• Langley Holding plc
• Maillis Group
• Rovema GmbH
• Douglas Machine Inc.
• KHS Group
• SIG
• Tetra Laval International S.A.
• Krones AG
• M.A. Industria Macchine Automatiche S.p.A.
• Syntegon Technology GmbH
• ProMach
• GEA Group Aktiengesellschaf
• Sacmi
• Coesia S.p.A.
• Duravant

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.

Next Generation Sequencing Market is Anticipated to Upgrade USD 31.26 Billion Revenue By 2030: Grand View Research Inc.

 Next Generation Sequencing Market Growth & Trends

The global next generation sequencing market size is expected to reach USD 31.26 billion by 2030, registering a CAGR of 21.12% from 2024 to 2030, according to a new report by Grand View Research, Inc. Next-generation Sequencing (NGS) is a parallel processing technique that can establish the sequence of nucleotides in a whole genome with scalability, ultra-high capacity, and fast speed. Furthermore, in the healthcare industry, NGS is gradually being incorporated into medical laboratory research, screening, and disease diagnoses. In personalized medicine, it has been frequently utilized to accelerate the drug research process.

Different potential sequencing methods such as RNA sequencing, whole-genome sequencing, and whole-exome and targeted sequencing amongst others are prominently used by researchers to get comprehensive sample analysis. When compared to the traditional Sanger sequencing technology, NGS is less expensive and provides higher throughput for DNA sequencing. The growing automation in the pre-sequencing protocols, post-sequencing protocols, and data analysis is also projected to have a positive impact on the NGS market. The utilization of novel platforms for the development of personalized medicine by medical analysis at a genetic level is also a significant factor, which is expected to enhance demand for NGS over the forecast period.

Besides, there are other significant growth trends that are being witnessed in the sequencing industry, such as the development of personalized medicine and companion diagnostics, growing advancements in cloud computing, and data integration. Furthermore, the easy availability of genomic and proteomic data has poised this market to exhibit potentially high-value avenues and opportunities for growth over the forecast period. The market growth is also being fueled by an increase in the global prevalence of cancer and the availability of sophisticated healthcare facilities. As per GLOBOCAN 2020, there have been 1,92,92,789 new cancer cases in 2020, with the number expected to rise to 2,88,87,940 by 2040. Such a substantial rise in the number of cancer cases is estimated to leverage cancer research which will eventually accelerate the NGS market growth.

The NGS diagnostic techniques have the potential to determine a virus's genomic sequence and aid scientists in their understanding of mutations. Furthermore, throughout the COVID-19 epidemic, governments across the globe have been collaborating with the corporate sector to introduce NGS technology to the market as a viable diagnostic tool. The US Food and Drug Administration granted Illumina Inc. a case of emergency use permit for the first COVID-19 diagnostic using the next-generation sequence technique in June 2020. The Illumina COVIDSeq Test for qualitative identification of SARS-CoV-2 RNA has been approved by the FDA. As a result, the usage of next-generation sequencing (NGS) technologies is projected to increase during the pandemic. 

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Next Generation Sequencing Market Report Highlights

• By application, the oncology segment held the largest revenue share of 27.31% in 2023. The segment growth is prominently attributed to increasing in the prevalence of cancer and advancements in sequencing technologies
• The academic research segment is expected to grow lucratively over the forecast period due to an increase in application-based usage in these institutes and a rise in oncology research. In addition, advancements in R&D for therapeutics, oncology, and genomics research led to the growth of the market
• In Asia Pacific, the market is expected to grow considerably during the forecast period owing to extensive developments in healthcare infrastructure, the positive approach of respective countries for adoption of advanced technologies, and the presence of key players
• North America dominated the market with a share of 49.35% in 2023, due to the presence of high R&D investment, and availability of technologically advanced healthcare research framework, the development of WGS in the region is also expected to serve as a critical factor for the growth of the North America NGS market throughout the forecast period

Access Press Release@ https://www.grandviewresearch.com/press-release/global-next-generation-sequencing-market

Next Generation Sequencing Market Segmentation 

Grand View Research has segmented the global next generation sequencing market on the basis of technology, product, application, workflow, end-use, and region:

Next Generation Sequencing Technology Outlook (Revenue, USD Million, 2018 - 2030)

• WGS
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing
  • DNA-based
  • RNA-based
• Others

Next Generation Sequencing Product Outlook (Revenue, USD Million, 2018 - 2030)

• Platform
  • Sequencing
  • Data Analysis
• Consumables
  • Sample Preparation
  • Target Enrichment
  • Others

Next Generation Sequencing Application Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology
  • Diagnostics and Screening
    • Oncology Screening
      • Sporadic Cancer
      • Inherited Cancer
    • Companion Diagnostics
    • Other Diagnostics
  • Research Studies
• Clinical Investigation
  • Infectious Diseases
  • Inherited Diseases
  • Idiopathic Diseases
  • Non-Communicable/Other Diseases
• Reproductive Health
  • NIPT
    • Aneuploidy
    • Microdeletions
  • PGT
  • Newborn Genetic Screening
  • Single Gene Analysis
• HLA Typing/Immune System Monitoring
• Metagenomics, Epidemiology & Drug Development
• Agrigenomics & Forensics
• Consumer Genomics

Next Generation Sequencing Workflow Outlook (Revenue, USD Million, 2018 - 2030)

• Pre-Sequencing
  • NGS Library Preparation Kits
  • Semi-automated Library Preparation
  • Automated Library Preparation
• Sequencing
• NGS Data Analysis
  • NGS Primary Data Analysis
  • NGS Secondary Data Analysis
  • NGS Tertiary Data Analysis

Next Generation Sequencing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharma & Biotech Entities
• Other Users

Next Generation Sequencing Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Next Generation Sequencing Market

• Illumina
• Hoffman-La Roche Ltd.
• QIAGEN
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• Oxford Nanopore Technologies
• PierianDx
• Genomatix GmbH
• DNASTAR, Inc.
• Perkin Elmer, Inc.
• Eurofins GATC Biotech GmbH
• BGI

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.

Modular Construction Market to Witness Soaring Growth During 2023 – 2030: Grand View Research Inc.

 Modular Construction Market Growth & Trends

The global modular construction market size is expected to reach USD 162.40 billion by 2030, registering a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to growing infrastructural development and building activities in developing countries around the globe. Rapid urbanization and industrialization are expected to increase the number of new projects, primarily in the commercial and industrial building sectors. This is likely to fuel the growth of the modular construction industry across the globe. Increasing technological advancements in the building industry coupled with the advantages provided by modular construction such as reduced building schedule, reduced cost, greater flexibility, reuse, and less material waste are contributing to the product demand in the market.

The relocatable modular construction (RMC) market is expected to witness rapid growth as temporary housing for emergency and relief operations has gained popularity over the past decade. These buildings are made to be repurposed and transported to various building sites. Government initiatives and regulations toward sustainability and a green environment are expected to fuel the market growth over the forecast period.

Using wood in modular construction is advantageous due to its favorable properties as a material. Wood is used in modular construction to create exterior wall panels including additional layers for insulation, vapor barrier, siding, waterproofing, and drywall. Moreover, global concerns regarding sustainability and increasing awareness about wood as a building material among consumers are the factors likely to augment the growth of the market over the forecast period.

Growing commercial sector in Asia Pacific on account of rising penetration of multinational brands backed with favorable trade policies are expected to propel the market growth. Increasing construction of office spaces, shopping malls, lodging spaces and other utility spaces across the region are likely to provide a major boost to the adoption of modular construction.

The manufacturers of modular construction prefer to maintain strategic relationships with raw material suppliers in order to avoid disruptions in raw material supply. In addition, manufacturers do not depend on a single source to procure raw materials to ensure the steady supply of raw materials and avoid volatility in terms of sourcing, thereby limiting the bargaining power of suppliers.

Leading companies are implementing the latest modular construction techniques and solutions to drive innovation in the modular construction sector. For instance, in March 2017, Bureau Veritas, Setec Bâtiment, Agence Coste Architectures, and Bouygues Construction partnered to work on innovative Building Information Modeling (BIM) processes. These processes enable technical inspectors and health & security protection coordinators to assess buildings and structures directly based on the digital model and allows principal contractors to sign off directly on the same digital model.

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Modular Construction Market Report Highlights

• The permanent segment accounted for the largest revenue share of 64.1% in 2021. This is attributed to the several advantages of off-site construction such as high-quality control compared to traditional building methods.
• The steel material segment accounted for a major share of 41.5% in 2022, owing to its characteristics due to which structural steel is used in building materials and can be welded into different shapes and grades.
• The residential application segment was valued at USD 47.85 billion in 2022 and is further forecasted to grow rapidly by 2030. The residential application segment includes single-family houses, multi-story residential buildings, and rental housing properties. Modular construction is witnessing rapid adoption in residential applications on account of its ability to significantly reduce building costs and time.
• The European region accounted for the largest revenue share in 2022 and is forecast to grow at a CAGR of 7.1% by 2030. The primary driving factor is expected to be the rising influx of migrants necessitating the building of temporary and permanent housing structures in the region.
• Modular construction market is characterized by the presence of various established players with a strong financial base resulting in high barriers for new entrants in this market. High initial capital required for developing buildings with modular construction is expected to lower the threat of new entrants in the market.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-modular-construction-market

Modular Construction Market Segmentation

Grand View Research has segmented the global modular constructionmarket report based on product, material, application, and region:

Modular Construction Product Outlook (Revenue, USD Million; 2018 - 2030)

• Relocatable
• Permanent

Modular Construction Material Outlook (Revenue, USD Million; 2018 - 2030)

• Wood
• Steel
• Concrete
• Others

Modular Construction Application Outlook (Revenue, USD Million; 2018 - 2030)

• Residential
• Commercial
• Industrial
• Healthcare
• Educational

Modular Construction Regional Outlook (Revenue, USD Million; 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE

List of Key Players of Modular Construction Market

• Sekisui House Ltd.
• LAING O'ROURKE
• Red Sea International
• Skanska
• Bouygues Construction
• Premier Modular Limited
• KLEUSBERG GmbH & Co KG
• DuBox
• Wernick Group
• CIMC Modular Building Systems Holdings Co., Ltd. (CIMC-MBS)
• Riko Hiše d.o.o
• Lendlease Corporation
• Modulaire Group
• Guerdon, LLC
• Hickory Group

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.