Electronics and Media

Self-Checkout System Market to garner lucrative proceeds via retail sector over 2017-2024, development of innovative products to characterize industry landscape

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Over the past few years, the overall self-checkout system market has grown by leaps and bounds courtesy the proliferation of retail outlets worldwide and the rising demand for a hassle-free checkout process. Numerous companies operating in the retail sector have been proactive in embracing cutting-edge technologies to alter the conventional norms of shopping. Citing an instance to highlight the rising influence of these systems, one of the most well-known apparel retailers Zara has recently implemented a self-service kiosk in its stores that let the buyer pick up orders that were placed online. Apparently, this would provide a personalized shopping experience to all consumers both in-store and online and aid them in making the right purchase decisions based on their personal preferences.

UK self-checkout system market size, by application, 2016 & 2024 (USD Million)
UK self-checkout system market size, by application, 2016 & 2024 (USD Million)

 

A concise overview of how the rapid emergence of smart self-service devices has impacted the self-checkout system market progression

In this regard, the prominent self-checkout system industry players have been manufacturing stationary self-service kiosks and scanners that assist in lowering the wait time at the check-out counter. Moreover, the rising trend of automation has proved to be rather financially beneficial to various business verticals. Enlisted below are a few instances which go on to reveal the increasing dominance of self-checkout system industry in the overall retail sector:

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  • It has been observed that multinational retail corporations along the likes of Walmart and Kroger have been optimistic in installing self-checkout systems across their grocery stores. Reportedly, Walmart plans to set up its self-checkout platform, ‘Scan and Go’, at around 200 stores by the end of 2018. On the other hand, Kroger has recently announced to roll out its self-checkout “Scan, Bag, Go” systems across close to 400 grocery stores. Apparently, these self-service kiosks would await consumers at the end of their shopping, where valid coupons would be tallied, and a final total would be calculated instantly. Needless to say, the development of such unique products by self-checkout system industry participants would assist a large number of retailers to cut costs and make the shopping experience more enjoyable for customers.
  • One of the foremost firm operating in self-checkout system market, Fujitsu Frontech North America Inc., showcased a new cash handling and cashless self-checkout platform at the National Retail Federation’s 2018 Big Show and Expo. Apparently, the latest self-service kiosk is a smaller sized hybrid device that enables easier deployment and reduces remodel costs significantly. With the commercial launch of Fujitsu’s self-service kiosk, retailers would be able to provide better customer service by freeing the staff now devoted to checkout procedure. Subsequently, the launch of such innovative products the overall commercialization potential of self-checkout system market appears promising.
  • In yet another instance that demonstrates the ingenuity of self-checkout system industry players, the Japanese conglomerate Toshiba has recently unveiled the next-gen self-checkout solution. The latest self-service device comes with sleek design complemented with complete modularity. Industry experts claim that the device would enable retailers to respond more swiftly to their business and customer requirements. The conceptualization of the device aims to challenge the prevailing norms by bringing about a drastic change in the retail sector, something which is likely to vigorously impel the growth prospects of self-checkout system market.

While elaborating upon the self-checkout system industry trends, it is quite imperative to mention that there has been a marked increase in the apprehensions regarding jobs being lost over the inclusion of such technology. However, it has been observed that retailers redeploy employees to fulfill immediate requirements within the store and assign complicated tasks that demand human intervention. Hence, numerous businesses have been adopting these systems to reduce costs, boost productivity, and add value to their brand.

Moreover, the escalating requirement of automated solutions across emerging economies and the growing trend of infrastructure development would expand the self-checkout system market share in the ensuing years. In fact, as per a report collated by Global Market Insights, Inc. the worldwide self-checkout system industry size is estimated to surpass an impressive USD 4 billion by 2024.

Author Name :Saif Ali Bepari

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APAC display market to witness lucrative proceeds over 2017-2024, China & India to be major revenue pockets

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With significant advancements in the touchscreen & embedded technologies, the global display market is expected to tread along a profitable roadmap in the ensuing years. The emerging markets for touch sensors, controllers, and software drivers for enhancing display & touchscreen experience are highly impacting the industry’s end-use landscape. The retail sector, in this backdrop, aptly exemplify the phenomenal growth of display market. The NFC-enabled terminals, Digital POS displays, smart ATMs, and Kiosks are some of the prominent display market products that have profoundly emerged as the most preferred mediums to engage with customers. Companies partaking in display market are in turn going the whole nine yards to bring new range of products that match with the ever-changing customer preferences.

China POS terminals display market size, by display size, 2016 & 2024 (Thousand Units)
China POS terminals display market size, by display size, 2016 & 2024 (Thousand Units)

Fujitsu, for instance has tied up with Arkessa to deploy connected retail & Internet of Things Solution to enhance personalized & digital experience for customers. The partnership aims to enhance the ICT solutions for the retail sector which would, in turn, enable retailers to deliver a top-class consumer experience. Similar trend of collaborations and product innovations in this business space underlines the massive developments prevalent in the display market.

Smartphone industry giants have placed themselves at the top of the display market competitive hierarchy where they are reportedly creating flexible OLEDs and microLED displays. Apple Inc., for example launched its first OLED display sporting smartphone iPhone X in 2017. However, the display was manufactured by Samsung Display for Apple then. The recent news reports however claim that Apple now is planning to make its own products in-house with MicroLED display technologies in its flagship products. Other prominent companies that have expanded their reach in the global display market are Advantech Co., Ltd., NCR Corporation, Displax S.A., Ingenico Group, NEC Corporation, and Aplus Display Technology, Co., Ltd.

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The aforementioned competitive instance quite clearly underpins the fact that the display industry players are taking rigorous steps in establishing their foothold in the global industry space, while the product innovations and technological advancements are forming the foundation for the future profitability scope. In terms of commercialization potential, Global Market Insights, Inc., claims display market to exceed global valuation of over USD 20 billion by 2024. In fact, the report also states that mere 7-billion-dollar industry witnessed unit shipment of more than 45 million units in 2016. These statistics goes on to validate that display market will be further witnessing huge growth potential in myriad regions down the line.

Reports claim Asia Pacific to be one of the significant regions witnessing high adoption of display technology in retail, entertainment, healthcare, and hospitality sectors. The growing need to upgrade and replace the existing old machines especially in the countries such as China, India, and South Korea is fueling the display market growth in Asia Pacific belt. Add to it, the initiatives such as demonetization and digitization that have been undertaken by the Indian government are expected to further fortify display industry share. Analysts deem that rising implementation of these systems to reduce error and improve profitability has been the key propeller of display technologies adoption in the region. Contemplating on these newer adoption of display technologies, the regional semiconductor & display vendors are seen rapidly expanding their manufacturing capabilities to cater increase in product demand & annual sales.

Given the fact that display technologies will witness extensive adoption on global level, it goes without saying that these systems will remain prominent part of modern-day infrastructure projects. All in all, driven by growing participation of tech giants investing in this technology, the display market growth is all poised to traverse along a profitable roadmap in the coming years.

Author Name : Ojaswita Kutepatil

A regional and competitive overview of IP camera market trends, U.S. and APAC to be the top-notch share contenders

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Internet of things has brought a revolution of sorts in the security & surveillance landscape globally. IP camera industry, in this context, stands as a major beneficiary of this change. As per reliable estimates, in the year 2016, the global shipments for IP cameras surpassed 15 million units. Add to it, reliable sources affirm that in the year 2014, IP camera shipments in smart home exceeded 1.3 million units – data strongly attesting the role of IOT and connected infrastructure in the lucrative growth chart of IP camera industry. Reportedly, the smart home segment is anticipated to depict synonymous demand for networked cameras in the ensuing years with an estimated shipment of more than 20 million units by 2019. Having said this, the growth prospects of IP camera market from residential applications is quite vividly huge. In fact, as per a report compiled by Global Market Insights, Inc. IP camera industry from residential applications is estimated to register a CAGR of 25% over 2017-2024, driven by applications including the likes of home surveillance systems, access control, remote monitoring, intelligent building control, and HVAC management.

U.S. IP camera market size, by commercial application, 2016 & 2024 (USD Million)
U.S. IP camera market size, by commercial application, 2016 & 2024 (USD Million)

Elaborating further on the application portfolio of IP camera market, the domains spanning healthcare, retail, industrial, and real estate, transport, BFSI, and education have contributed immensely to the IP camera market proliferation. Backed by the falling price of these HD network cameras coupled the growing adoption of open standards, these high-resolution HD network cameras have phenomenally penetrated the commercial and governmental sectors. In response to these opportunistic waves, the competitive landscape of IP camera market is thriving with product innovations and developments, having pricing and technology upgradations as the center focus parameters. Not to mention, M&As and collaborative deals between security and technology players is emerging as a top-notch growth strategy, to sustain in this ferociously dynamic landscape.

Citing a recent instance, OmniVision Technologies, Inc, a U.S. based digital imaging developer in collaboration with VATICS Inc., a renowned player in Taiwan multimedia SoC solution market have partnered to bring a NIR or near infrared IP camera solution for indoor & outdoor surveillance systems. As reported by the company officials, the product stands different through its high responsiveness to NIR light, which reduces the need for augmented lighting – which not only proliferates the power consumption but also enhances the risks of exposing the hidden cameras. Speaking along similar lines, it is imperative to mention that Infrared cameras have stood as one of the major product segments of IP camera market and is expected to show significant growth trends in the coming years.

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It is imperative to mention that all the major product developments canopied under IP camera industry are hinged on technology interventions. As per reliable estimates, the worldwide security technology and services market generated a revenue of more than USD 75 billion in 2016. Being on the forefront when it comes to technology appetite, the U.S. stood tall in the IP camera industry share battle with dominating share in 2016. In the year 2014, there were allegedly more than 125 surveillance cameras per thousand people in the U.S.

Pelco, a subsidiary of Schneider Electric, is one such name which has created a buzz in the IP camera industry and has undeniably contributed immensely to the U.S. IP camera landscape. The global surveillance solution leader recently announced its partnership with Ipsotek, UK headquartered video analytics leader, in a bid to bring strong solutions on board to combat security risks. For the records, Pelco plans to leverage Ipsotek’s specialization in detecting behaviors in the real-time videos, thereby delivering alerts to operators and reducing false alarms.

Last year, Pelco, with its collaboration with V5 Systems, expanded its Sarix Professional IP surveillance cameras reach to outdoor security markets, particularly in areas with no or low fixed power and communication facilities. The company is predominantly active in exploring the untapped opportunities in IP camera market space, on a global scale. The firm, made it to the headlines, all over again with its announcement of showcasing its innovative solutions at Intersec 2018. The solutions are deemed to address the Middle East and Africa regions particularly and will elaborate on Pelco’s partnership with three reported industry magnates – Ipsotek, Gallagher Command Center, Ruckus Wireless.

Reportedly, Pelco, in January this year collaborated with Ruckus Wireless to integrate the latter’s ICX switches and ZoneFlex access points (APs) with Pelco’s IP Cameras and VMS in a bid to offer an upgraded version of IP video systems. Overtly, the firm will continue to be a major vendor for the U.S. and the global IP camera industry in the ensuing years.

However, the regional battle is anticipated to take a turn in the ensuing years with Asia Pacific showing signs of being the next major investment hotbed for IP camera industry players. Smart city initiatives in the region is projected to be a major driver for the APAC IP camera market size, driven by huge demand for deployment of these networked cameras in the connected infrastructure. From the recent product launches witnessed across this fraternity, it is quite certain that APAC is ready to give a major competition to the United States, with regard to the procurement of the revenue share. As per recent trends, India, China, Taiwan, South Korea, Australia are slated to be the chief revenue pockets for Asia Pacific IP camera market. Below are some of the initiatives which led APAC to generate a substantial momentum in the global IP camera industry landscape:

  • In a recent turn of events encompassing IP camera market landscape, Digisol Systems, an India headquartered active networking market player announced the launch of its new Dome IP CCTV Camera dubbed as DG-SC6502SA. Reportedly, the camera is featured with a CMOS sensor and real time image processing hardware and is designed for office/home security and monitoring purposes.
  • Hanwha Group, one of the largest conglomerates in South Korea, under its subsidiary Hanwha Techwin America, the renowned supplier of analog and IP video surveillance solutions, recently declared the integration of VMS into the existing Hanwha IP Cameras. Reportedly, the WAVE VMS will enable the present Hanwha IP camera user base across a wide range of sectors like education and retail to utilize the utmost out of the advanced analytics features.
  • ThroughTek, a leading IoT solution provider for cloud connection platform, will reportedly showcase its Kalay Platform solution at the Mobile World Congress Taiwan Pavilion Booth this year. As per the sources, the firm will present the famous products and brands that use Kalay Platform solution like Guardzilla’s low power consumption doorphone, Xiaomi Home IP Camera series, Furbo Dog Camera from Taiwan-based Tomofun. The firm has quite a strong stance in the global IP camera industry and its cloud platform, Kalay has been a breakthrough with regard to providing video transmission & storage with such high efficiency and affordability quotients.
  • Gorilla Technology, the Taiwan based IoT and video intelligence provider recently announced its partnership with Airship, a renowned VMS service supplier, in a bid to create an integrated video intelligence management solution. The deal is anticipated to be an opportunistic one for the players operating in security industry verticals, particularly IP Camera, VMS, NVR, and SI. The deal, as speculated by the industry experts, is an apt blend of security and IoT merger.

With the increasing deployment of big data and IoT and the consequent large pool of data, the quest for deriving actionable insights is expected to proliferate massively. Undoubtedly with ‘smart’ trends penetrating both the government and private sectors, the advancements and security risks go hand in hand, in terms of growth. Amidst this scenario, analysts quote the IP camera market trends to be substantially profitable in the coming years, with a pool of demand from a varied range of sectors. Backed by this drive toward real-time IP/network solutions, the global IP camera industry is slated to register a CAGR of 20% over 2017-2024. For the records, the market stood at an appreciable revenue of USD 5 billion in 2016.

Author Name : Shikha Sinha

Computer engineering market to accrue substantial gains from automotive applications, IoT to majorly influence the industry dynamics

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Endorsed by plethora of technological interventions, computer engineering market has been one of the fastest developing verticals of electronics & media industry. The concept of computer engineering dates back its commercialization in the late 30s when John Vincent Atanasoff and Clifford Berry began developing the world’s first electronic digital computer. Computer engineering market, since then, is on the verge of continuous developments with regards to software and semiconductors advancements & progressions. Over time, the robustly expanding demand for high computing capacity and IT centralization has significantly led the focus on enhancing the efficiency of systems, which as per analyst, brought a renewed dynamism in the computer engineering industry. In fact, according to reliable reports, the global computer engineering market size was valued to be over USD 1800 billion in 2016.

Europe Computer Engineering Market, By Product Functionality, 2016 & 2024 (USD Billion)

Europe Computer Engineering Market, By Product Functionality, 2016 & 2024 (USD Billion)

Speaking of the industry drivers, the growing appetite for upgrading present day technologies is slated to revolutionize the computer engineering market trends. IOT and connected devices, the two most buzzing trends of the technology world, are speculated to leave a humongous impact on this business fraternity. The fact can be validated from the increasing penetration of these devices in a slew of industry verticals such as automotive, healthcare, retail, manufacturing, etc. Elaborating on the growth potential of computer engineering applications in medical field, it won’t be far that tomorrows digital stethoscope could function as an “intelligent thing” by collecting real-time data, treatment information, data related to diagnosis, and an AI powered physician assistance app.

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Contemplating on these wide-ranging applications of computer engineering industry, it goes without saying that the technology is set to change the whole idea of how people live. One prominent example of how the technology will extensively penetrate people’s daily life are smart vehicles – a classic explanation of computer engineering industry proliferation in automotive domain. Needless to mention, autonomous driving has quickly become a reality, thanks to software and hardware boom in computer engineering industry. In order to provide high levels of connectivity in the smart vehicles, it is a mandate for the vehicles to be equipped with significant amount of computing devices. In essence, given the rapidly-expanding demand for efficient products such as the micro controllers and connected devices, the automotive application is expected to draw lucrative profits for the computer engineering industry in the years ahead. A significant fact validating the authenticity of the aforementioned fact is of a report published by ON Semiconductors that claimed more than 34% of its revenue to be generated via automotive applications.

NVIDIA is another renowned name depicting the strong profitability potential of computer engineering industry players from automotive sector. Needless to introduce, the company has far expanded its application scope in the recent trend of driverless cars by providing AI computer systems to enable self-driving capabilities. The firm has recently hit the news headlines pertaining to its collaboration with a German automobile parts supplier Continental to build an autonomous vehicle system that is slated to tap the market by 2021. The deal is indeed a vivid instance of the conjoint efforts of automotive and computer engineering market players to bring a revolution of sorts in the automotive domain by putting the much-awaited self-driving cars on roads.

Delving deeper into the application landscape of computer engineering industry, it is undeniable that the market is expected to witness versatile growth opportunities – chiefly on the cusp of IoT technology that is practically disputing every business vertical. It has been estimated that the economic impact of the IoT is expected to reach a mammoth valuation of over USD 11 trillion by 2025. The statistic clearly depicts the vast growth potential for computer engineering market players to bring forth high-end products that would be compatible with the rising IoT influenced trends such as the smartwatches, smart homes, digital healthcare, drones, etc. Taking into consideration these technological interventions, industry experts claim computer engineering market to remain one of the most lucrative investment grounds for potential stakeholders. A presumption validating the same is of a report published by Global Market Insights, Inc., that claims computer engineering market to exceed an enormous valuation of over USD 2.5 trillion by 2024.

Author Name : Ojaswita Kutepatil

An in-depth outline of digital signage media player market with regards to its widespread application landscape: retail sector to emerge as a prominent growth avenue

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Having ideally evolved in the era of digitalization, digital signage media player market has been depicting a remarkable growth across numerous geographies, pertaining to the technology’s ability to communicate with consumers directly. Of late, it has been ranked as one of the most trending technologies among several marketing players for branding, as it provides a hassle-free and smooth operating process. The increasing preference for IT based solutions for enhanced visibility and integrated technology across various industrial sectors is also slated to boost digital signage media player industry trends. It is also rather overt that the growing acceptance of smartphones services will have a remarkable impact on digital signage media player market size, owing to the rising number of investments in the development of mobile integrated digital signage systems.

U.S. Advanced Level Digital Signage Media Player Market Share, By Product, 2016 & 2024 (USD Million)
U.S. Advanced Level Digital Signage Media Player Market Share, By Product, 2016 & 2024 (USD Million)

Currently, digital signage is emerging as a vital mode of communication across wide range of applications including banking, retail, education, hospitality, healthcare, and government sectors. A succinct insight of the application spectrum of digital signage media player market is enumerated below:

Digital signage media player market trends across the retail sector

Driven by the rapidly shifting trends toward online shopping, most of the retail merchants have been giving preference to digital signage of late, in order to align themselves with the rising demand for e-commerce. Since digital signage provides considerable benefits over traditional POP (point of purchase) signage, merchants can conveniently increase product sales by displaying instantaneous pricing updates. Deploying digital signage systems can also help retailers attract more customers due to increasing brand visibility. In addition, the ability of these systems to make instant adjustments in pricing will lead to a rise in their installation rate, which will stimulate digital signage media player industry share. In order to introduce high performance media players and attract more consumers from the retail sector, most of the giants in digital signage media player market have been continuously focusing on the development of innovative and advanced products.

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Digital signage media player market trends across the education sector

The shifting trends toward digital media culture have encouraged most of the educational institutes to adopt digital signage. With the deployment of this technology, educational institutes are likely to save millions of pounds by reducing the dependency on printer toners and papers. In addition, it also reduces the cost associated with third party advertisements of educational institutes by eliminating publications in local newspapers. Undoubtedly, the popularity of these systems across the educational sector has been on a rapid increase lately, which has been subsequently fueling digital signage media player industry size. In addition to the cost-saving benefits, digital signage is also known to improve the learning experience of students with visual simulation. It is even being deployed to display urgent messages, evacuation notices, and alert notifications. Its ability to switch instantaneously between emergency and regular content is indeed one of the principal driving factors of digital signage media player market from the education sector.

Digital signage media player market trends across the BFSI sector

Owing to distance and time barriers, it has been observed that it is rather difficult for service providers in the BFSI sector to communicate with customers. Digital signage effectively eliminates these communication barriers by displaying critical information and important messages in a very organized manner. Infotainment systems, for instance, help banking consumers by directing them toward the right department. In fact, in banking and governmental organizations, digital signage systems are primarily deployed for queue management and numerous other operations, massively driving digital signage media player industry outlook over the years ahead.

The continuous involvement of digital signage media player market players in the advancement of AI-based signage systems to attract more customers has been forecast to push the product demand over the years ahead. It is also prudent to mention that the emergence of innovative technologies such as facial recognition, Wi-Fi scanning, beacons, and NFC will transform the future of digital advertising. Fueled by extensive tech advancements and the ubiquity of online shopping, digital signage media player market has been projected to surpass a revenue collection of USD 1 billion by the end of 2024.

Author Name : Sunil Hebbalkar

A meticulous abstract of consumer electronics market with regional frame of reference, technology interventions to underline the strategic landscape

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Automation and digitization trends have been a game changer for practically every business sector, consumer electronics industry bagging the top position in the transformation queue. In fact, it wouldn’t be wrong to mention that with these hi-tech features, the product spectrum of consumer electronics market has revolutionized. The industry, over the recent years, has seen a slew of new product launches that runs a gamut from hard-drive equipped TVs to networked home appliances including next-generation refrigerators and washing machines, credits – the increasing technology appetite along with the ‘smart’ trends that have indeed led to a paradigm shift in the consumer behavioral pattern, impacting the consumer electronics industry dynamics. Not to mention, with anticipation of ‘smart’ notion chiefly characterizing this business fraternity, the consumer electronics industry players are overt to witness a plethora of opportunities in the coming years. The global consumer electronics market, as per industry analysts, stood at USD 1100 billion in 2016.

Global Audio & Video Equipment Market, By Region, 2016 & 2024 (Million Units)
 Global Audio & Video Equipment Market, By Region, 2016 & 2024 (Million Units)

Asia Pacific – a profound business frontier for consumer electronics industry

Asia Pacific is touted to be one of the largest markets for consumer electronics, driven by  the extensive changes in macroeconomics, such as the expanding middle class population, rising disposable incomes, changing demographic patterns, and rapid urbanization trends. The substantial surge in household incomes has had a direct relationship with the spending on electronics items, in turn stimulating the sales of consumer electronics products including the likes of tablets, smartphones, home appliances, and other wearable electronics. As per reliable statistics, by 2020, Asia Pacific is expected to witness 903 million TV households, an upsurge of 100 million than that recorded in 2014.

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It has been further anticipated that the TV households will have an average of 1.21 TV sets per home, significantly leading to more than 1.3 billion sets across the Asia Pacific belt by 2020. It is also prudent to mention that India accounted for a household refrigerator & washing machine user rate of 31% and 10% respectively in 2013. China is another major region standing as a major contributor toward global consumer electronics industry share. China’s urbanization drive and rising focus on living a high-quality life have been the prominent factors fueling regional consumer electronics market trends. A data bearing testimony to the aforesaid fact – China’s household electric appliances sales reached 1,284 billion yuan in 2013, up from about 715 billion yuan in 2009. Yet another factor to have propelled China consumer electronics industry space is the region being host to renowned industry players including the likes of Midea group and Gree Electric, which are regarded as two of the top pioneers in consumer electronics industry space.

Speaking of the competitive trends in consumer electronics market space, the industry is dynamically charged with participation of globally preeminent magnates such as Apple Inc., Samsung Electronics, Sony Corporation, Nikon, Bose, GoPro, and Sennheiser. Amidst a backdrop where technological advancements are being referred to as the top most success quotient underlining the sales of these products, these players are vigorously expanding their product pallets in sync with the latest smart trends.

The industry is further anticipated to witness an interesting change of events with the integration of AI and IOT in the product spectrum. What remains to be seen is how these ‘smart’ interventions would mold the competitive hierarchy of consumer electronics market in the coming years. All in all, in terms of remuneration, global consumer electronics market is estimated to surpass USD 1500 billion by 2024.

Author Name : Ojaswita Kutepatil

Data Center Power Market to garner remarkable proceeds over 2017-2024, favorable government initiatives to expedite the global industry progression

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In the recent times, the global data center power market space has been witnessing an unprecedented pace of growth courtesy- the surge in the number of data centers all over the world. The amount of data that is being generated and estimated to be generated in the immediate future can be rightly termed as gargantuan. This has, in turn, assisted the prominent data center operators to expand their services and augment their remuneration portfolio in a drastic way. While it is quite undeniable that the leading end-user of data center power industry has been the private sector, however, given the rising significance of e-governance across the globe, a plethora of government agencies have been compelled to get on the bandwagon of rapid digitization. Apparently, various government bodies, it has been observed, have been making extensive efforts to consolidate their respective data centers network, a trend which would eventually quicken the pace of data center power market size expansion over the estimated timeframe.

Europe data center power market, by solution, 2016 & 2024 (USD Million)
Europe data center power market, by solution, 2016 & 2024 (USD Million)

While elaborating further upon the growth prospects of the data center power industry, it would be prudent to cite an exceptional instance that would reinforce the efficacy of the aforementioned declarations. As has been reported, Eaton Corporation, one of the foremost data center power market giant has been recently awarded a USD 10.7 million contract to enhance and upgrade the existing data center of Defense Information Systems Agency (DISA) in Ohio, U.S. The Ireland headquartered firm would deploy its expertise to expand the dual power network of the data center in a bid to fortify the center’s crucial uninterruptible power supply(UPS) systems, something which would augment the efforts of DISA to increase its mission loads and cater seamlessly to its consumers. For the record, DISA is a United States Department of Defense combat support bureau which is responsible to provide communications and information technology support to national leaders such as President, Secretary of Defense, and other major leaders of the country. Needless to say, the latest contract is being dubbed by U.S. data center power industry giants as significant, given the fact that the federal government has been vigorously pursuing its targets prescribed in Data Center Optimization Initiative (DCOI), a data center consolidation programme mandated under the Federal IT Acquisition Reform Act (FITARA). As the industry players anticipate contributing toward the nation’s quest to cement its position in the global data centers infrastructure, it goes without saying that the U.S. data center power market size is set to expand at an exponential rate over the ensuing years.

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The burgeoning demand for cloud storage has led to a surge in the number of data centers across the globe, which has consequentially led to data center power market witness a significant boost. As per some reliable estimates, the U.S. alone has over 3 million installed data centers, with close to 10 percent of the total electricity of the nation being utilized by these data centers. Concurrently, to put the current scenario into perspective, as per some authentic sources, the data centers apportioned a staggering five percent of the overall electricity generated all around the globe. Apparently, the aforementioned statistics further affirm the need to increase efficiency and reduce the power losses as an increasing number of data center operators have been facing enormous challenges on those fronts. Leading data center power industry giants appear keen on developing innovative solutions that would not only enhance the overall efficiency of data centers but would lower the operating costs as well, thereby propelling the growth prospects of data center power market over the forthcoming years.

With the tech cosmos depicting massive growth potential in the years ahead, it is anticipated that data center power industry trends would undergo remarkable alterations, which would favorably influence the revenue graph of this business space. According to a comprehensive report collated by Global Market Insights, Inc., data center power market size is forecast to surpass a valuation of USD 27 billion by 2024.

Author Name : Saif Ali Bepari