Electronics and Media
Global structured cabling market remuneration to hit USD 25 billion by 2025, escalating product demand from data center facilities to fuel the industry landscape
Propelled by extensive proliferation of digitization, the structured cabling market is slated to establish itself as an extremely lucrative investment ground in the forthcoming years. A number of legacy facilities are finding it difficult to maintain the order & ease with which a cabling infrastructure can be accessed. However, the extensively used cable management solutions & products in structured cabling can be installed with relative ease & can facilitate modular and simple designs, providing these legacy facilities with an ideal solution for the challenges they face, thereby driving the structured cabling market landscape.
U.S. structured cabling market, by application, 2018 & 2025 (USD Million)
Apart from industrial applications, structured cabling is also finding deployment in modern residential & commercial construction projects. One of the latest avenues of growth for the market is the rapidly developing smart building & intelligent lighting industry, fraught with LED lights, integrated with sensors & controls that perform a number of different tasks, ranging from motion sensitive lighting and controlling brightness & color through the smartphone to managing ventilation according to the number of individuals in a room.
Global structured cabling market | Impact of the growing data center demands from businesses
The increasing adoption of several digital services as well as the growing population of internet users has been augmenting data center demands across the world, which is in turn fueling structured cabling market growth. The world is becoming increasingly more digital & connected – indeed, according to a Cisco Visual Networking Index, the annual IP traffic across the world would be reaching the 3.3 zettabytes (ZB) mark by year 2021 and would be increasing more than threefold over the coming five years, driving extensive demand for data centers.
Structured cabling systems are a crucial part of data centers as they facilitate faster data-transfer rates and ensure effective connectivity of the different IT devices in the facility, thus lessening the chances of system failure & downtime, which significantly improve the effectiveness of a business’ decision-making process, helping it maximize its profits.
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Moreover, increasing high-speed connectivity demands of data center & device convergence would also be responsible for driving the market’s growth. The industry is witnessing an increasing rate of adoption of coaxial & fiber optic cables to quench the high-speed connectivity demands. These cables boast of a significantly greater level of bandwidth & can transfer much larger amounts of data per unit of time in comparison to conventional metal cables, making them a must-have for modern networks and thereby driving structured cabling market further.
Global structured cabling market | Impact of the IT & Telecom sector’s growing dependence on structured cabling
With increasing demand for faster connectivity & higher bandwidth, network designers are of the opinion that the fiber-optic structured cabling segment would be establishing itself as a backbone for the global telecom industry infrastructure. The modern technology-driven world has been changing the operating demands of almost all of the industrial sectors. Moreover, with the rapid evolution of smart devices such as tablets, smartphones & smart watches, that consume voice & data services on a regular basis, the integration of IT & telecommunication is getting rather advanced. This amalgamation is expected to drive more standardization in the two industries during the implementation of advanced technologies & infrastructures that enhance the voice & data services. This has put an increased amount of pressure on telecom companies to facilitate uninterrupted & better services to their customers.
The fiber-optic structured cabling solution is being termed an ideal way with which the industry can fulfil its connectivity requirements as they provide an optimal environment that can transmit voice & data at extremely high speeds. Moreover, as data centers are telecom operators’ foundation in present scenario, the upgradation of these facilities to enhance user experience would also be driving the structured cabling industry size from the IT & telecom sector.
Furthermore, according to a 2018 report by TeleAnalysis, adapting to changing circumstances, more than 60% of the world’s telecommunication network facilities are projected to become data centers over forthcoming years, enabling the structured cabling market to depict sizable growth from the IT & telecom applications.
Owing to the presence of a connectivity-driven foreground, the global structured cabling market would be drawing in significant growth over the years to come. In fact, according to a research report by Global Market Insights, Inc., the overall structured cabling market size would be exceeding a valuation of $25 billion by 2025.
Author Name : Akshay Kedari
North America people counting system market to gain massive proceeds by 2025, robust adoption of technologically advanced products to fuel the regional industry expansion
The global people counting system market is poised to witness remarkable growth in the years to come, owing to the robust adoption of digitized systems for supporting regular operations across a number of application domains. These systems provide installers with numerous operational enhancement benefits like tracking the busiest time slots as well as staff optimization. Further, the rising awareness of business intelligence platforms in a number of industries like hospitality, entertainment, and retail is creating huge demand as well, for enhanced customer tracking solutions.
UK people counting system market, by application, 2019 & 2025 (USD Million)
It is imperative to state that the people counting system market is also witnessing a technological evolution, like the development of behavior analysis technologies, thermal imaging counters, and 3D stereographic components. These advancements have been captivating core industry players to adopt innovative technologies that will help drive the people counting system market growth in the years to come.
A rise in the demand for effective technologies for analyzing, detecting and converting potential customers, and enhancing profitability and business is a crucial factor that will propel the people counting system market. A number of industrial sectors like clubs, pubs, restaurants and hospitals are witnessing high adoption of this technology to track the number of customers that are entering or exiting the facility. Such systems also assist companies in developing effective marketing and sales strategies to attract customers and analyze their buying behavior. Strategies like these would further assist them in competing with prominent companies in terms of sales revenue and the customer base.
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Regionally speaking, North America has been touted to emerge as a viable growth ground for people counting system industry. Powered by the presence of numerous system developers in application industries and the robust adoption of technical advancements across the economies of U.S. and Canada, the North America people counting system market size has been growing at an exceptionally rapid pace. The regional industry is touted to depict commendable gains in the years ahead, as the continent continues to witness the proliferation of technologically advanced transportation facilities incorporating automated management systems and the smart city projects.
Notable companies partaking in people counting system market share have apparently retained focus on technological advancements by developing specialized passenger counting systems with different capabilities which would offer better management capabilities in varied application segments. A gist of the contribution by some of the major companies in the people counting system market is mentioned below:
Axis Communications AB
The surveillance industry is remnant of very specific challenges and core players often seek to achieve benefits from niche applications like surveillance in psychiatric wards, interview rooms, and elevators which are commonly left unaddressed by standard products available in the market. To tackle this problem, the Sweden-based Axis Communications has recently introduced two specialty camera models for corner-mount use, with distinct design features for meeting specific use cases.
One of the camera models has a perfect design to blend into the aesthetic in elevators, while the other is ligature-resistant (anti-ligature), ideal for the healthcare sector, among many others. Such product advancements by notable industry players are anticipated to drive the commercialization landscape of the people counting system market in the years to come.
As a part of its exponential growth tactics, V-Count in the recent years, has executed aggressive expansion plans to establish itself in major regions across the globe. In December 2017, the company had made its debut in Dubai, owing to the city’s dynamic, tech-savvy market and its strategic location, which made it an ideal location for V-Count‘s new offices. This move was a part of continuous effort from the company to expand its presence, and respond to the increasing demand for retail analytics and advanced people counting solutions.
The company further made its entry in the UK and other European markets for supporting both new and existing customers in implementing powerful analytics technologies across their businesses. Regional expansion tactics thus, are bound to help augment the scope of the people counting system industry in the forthcoming years.
Considering the aforementioned efforts undertaken by prominent industry players, it is clear that the people counting system market would depict tremendous growth in the coming years. The competitive spectrum of this industry is quite diverse, and consists of renowned companies such as HELLA Aglaia Mobile Vision, RetailNext Inc., Iris-GmbH Infrared & Intelligent Sensors, InfraRed Integrated Systems Ltd., Infodev Electronic Designers International Inc., FLIR Systems Inc. and Eurotech, among others.
Author Name : Saurav Kumar
Europe data center liquid cooling market to record extensive gains by 2025, robust adoption of direct immersion cooling solutions to expedite the industry landscape
The increasing demand for digital services and unprecedented growth in AI and machine learning has helped push data center liquid cooling market share to new heights lately. Data centers demand efficient cooling systems to reduce power consumption as over 30% of the power is used for cooling purposes. Processor performance is also severely affected by overheating resulting in slower operations. However, with businesses increasingly shifting towards mainframes and supercomputers, liquid cooling technology seems to be an ideal solution for modern data centers. Furthermore, the consistently changing demands for new, uninterrupted digital has been prompting data centers to adopt innovative technologies that will help boost data center liquid cooling market in the coming years.
China data center liquid cooling market, by solution, 2018 & 2025 (USD Million)
The growing implementation of artificial intelligence (AI), big data, cloud, and machine learning in newly developed software solutions has also been driving the industry growth. With the development of more powerful chips capable of rapidly processing data for new complex applications, the amount of power consumption has exponentially increased leading to more component heat generation. For instance, an increasing number of GPUs and FPGAs are nowadays pushing systems to their limits for smoothly running heavy applications like AI, big data analytics, HPC, media streaming, machine learning which in turn generate high amounts of heat. Reports claim that the heat profile for many GPU based servers is double than that of traditional servers. However, with the benefits of liquid cooling technology businesses can deploy applications at a much higher density with increased efficiency, that will lead to a commendably reduced carbon footprint, supplementing the data center liquid cooling industry growth in the upcoming years.
One of the most extensively used solutions for data center cooling is the direct immersion cooling solution. Also known as liquid submersion cooling, this solution is used to submerge full servers in a thermally conductive liquid to offer enhanced temperature control. The method is slowly gaining popularity with innovative datacenters across the world. Some ultra-high-speed supercomputers like IBM’s Summit supercomputer already use liquid cooling technology to pump around 4,000 gallons of water per minute through its system.
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Direct immersion can significantly cool solid-state drives, which makes the entire process more efficient in comparison with traditional methods. The technology also reduces system humidity & heating effect, further offering high operational performance and speed. Additionally, solution developers offer efficient maintenance & installation services to data center clients which further supports industry expansion. Indeed, it comes as no surprise that the data center liquid cooling industry will gain substantial momentum from the robust adoption of direct immersion cooling solutions.
Hyperscale data centers – the latest trend that will proliferate data center liquid cooling market size
The increased focus on business agility and cost optimization has led to the rise and growth of cloud data centers which in turn has given birth to the trend of hyper scaling. Hyperscale cloud operators are increasingly offering better resources and bandwidth that support the growing demand for storing large chunks of data on the cloud. Compared to traditional models, hyperscale data centers require to operate in colder zones as these facilities constantly handle increasingly large amount data traffic, which expands IP connections and fulfills high storage demands, factors that make it essential for deploying servers with high-density cooling elements like liquid coolers and water-chilled metal boxes equipped with blowers to enable fast operation at ambient temperatures. The growing shift towards hyper scale cloud data centers will thus augment the growth of data center liquid cooling industry.
Speaking of the regional expanse of the data center liquid cooling market, it would be prudent to state that APAC and Europe are two prominent geographical revenue pockets for the industry. Asia Pacific data center liquid cooling market will witness significant growth over the ensuing years, driven by the increase in data capabilities brought forth by the growing digitalization in every possible industry sector.
The expansion of the Europe data center liquid cooling market can be majorly credited to the massive presence of numerous colocation facilities across the continent. Powered by the advent of robust digitization across the industries such as BFSI and medical care, in tandem with the rapid adoption of machine learning technology in the region, Europe data center liquid cooling industry share is set to soar high in the years to come.
Liquid-based cooling solutions have more heat removal capabilities & can reduce a data center’s power consumption by about 70%. The paradigm shift toward high energy consuming applications and the deployment of AI, big data and machine learning will mandate the adoption of liquid cooling solutions for smoother operations in the years ahead. Reports from Global Market Insights, Inc. cite that the data center liquid cooling market size will exceed the $2.5 billion mark by 2025.
Author Name : Mateen Dalal
How have the dynamics of restaurant POS terminals market transformed with the launch of next-gen systems by popular industry stalwarts?
The unprecedented growth pace of the global restaurant POS terminals market is rather evident from the recent instance of Jamba Juice joining hands with Paytronix Systems, Inc. The popular smoothie and juice brand inspiring healthy living worldwide, through this partnership, aims to deploy Paytronix’s POS platform and increase sales and gift card redemptions within all touch points. A highly reputed restaurant POS terminals industry contender, Paytronix, with this agreement, plans to enable Jamba’s gift card sales across numerous distribution channels and POS platforms, inclusive of online ordering, third-party channel sales, Jamba Juice mobile apps, website sales, and stand-alone terminals, not only improving productivity for Jamba but also substantially strengthening its stance across the global industry.
China restaurant POS terminals market, by application, 2017 & 2024 (USD Million)
A business vertical of commendable repute, thriving extensively on shifting consumer preferences, restaurant POS terminals market as on today stands as one of the most fast-paced, lucrative industry spheres there is. Aided by the global shift toward digitalization and the accelerated adoption of advanced payment systems worldwide, driven by massive technological propagation, the commercialization potential of restaurant POS terminals market has only surged in the last few years. The robust proliferation of next-generation technologies has created an innovation-centric scenario in the competitive spectrum of restaurant POS terminals market, leading to prominent industry magnates tapping high-grade software to develop solutions to be incorporated in payment terminals. Endorsed by fierce competition and powered by the widespread requirement of specific, task-centric systems, restaurant POS terminals market participants have been going the whole hog to come up with a portfolio of innovative, proprietary solutions. A gist of some of the major companies that have been grabbing attention in this regards has been elucidated below:
A highly reputed firm partaking in restaurant POS terminals market share, TouchBistro boasts of an enviable product portfolio and is frequently involved in M&As and product development strategies to consolidate its standing in the industry. Last year in March, the company launched TouchBistro Payments, powered by a Chase company – WePay. Through a highly strategic partnership, both these companies plan to offer two major time-efficient innovations demanded by most restaurant owners – an integrated mobile payment device and instant payment processing.
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TouchBistro’s efforts to maintain its standing in restaurant POS terminals industry is also quite vivid from the firm’s plan to diversify its offering and reach in the UK in 2017. The year saw the company extended its integration with Square to the restaurants in UK. Post the extension, all the restaurants in the UK using the TouchBistro iPad mPOS solution had been able to process payments seamlessly using Square.
In the first quarter of 2018, Verifone forged a partnership with Paysafe, a global provider of payment solutions, in a bid to deliver quick services for restaurants across the United States. Reportedly, through this contract, Paysafe became the first firm to adopt the Verifone Connect to be used on its Carbon and Engage devices deployed by restaurants. The partnership was touted to pave the way for the easy acceptance of digital wallets, loyalty programs with smartphones, and near field communication payments in restaurants so that customers would be able to pay online or outside of businesses and even at the table, and drastically transform restaurant POS terminals market trends.
Shifting a tad bit away from its usual strategy and product offering, Verifone, in October last year, declared the launch of Navigator – the first-of-a-kind payment feature equipped with a fully integrated touchscreen, for earning certification for usability and accessibility by the Royal National Institute of Blind People. The goal behind the said launch was to ease payment transactions for the visually impaired, employed in restaurants or someplace else, in an era where payment devices continue to navigate toward touchscreens.
One of the most popular magnates of the global restaurant POS terminals market, Toast boasts of highly commendable public profile as far as payment solutions are concerned and has been touted to be one of fastest-growing restaurant management platforms in the U.S. A couple of years back, the company joined hands with SpeedETab, the leading company in mobile payments, analytics solutions, and native mobile ordering for merchants, to empower restaurant owners with an enterprise-level order ahead technology which works seamlessly with Toast.
2018 was an exceptionally profitable year for the restaurant POS terminals market contender, as Toast, in the second quarter, made it to the headlines with the launch of the Toast Go™ – a fully integrated POS handheld system custom-built for restaurants. The solution combined software, hardware, and payments together to exclusively cater to restaurants that can use Toast Go in conjunction with Toast KDS to improve table turn time and deliver exceptional guest experience. Merely a few months ahead, the restaurant POS terminals industry firm announced GoParrot, Rooam, and Avero as the key application partners in the Toast Partner Ecosystem to provide restaurants seamless access to technology partners in order to enhance operations, increase their revenue, and improve customer interaction. Equipped with a vision to empower the restaurant community, Toast, in the years to come, will emerge as one of the strongest contenders of the restaurant POS terminals industry.
The highly appreciable efforts of prominent companies to bring advanced solutions to the mainstream has quite irrefutably, expedited the commercialization potential of the overall restaurant POS terminals market. Not to mention, the industry trends have also undergone a major transformation with the exceedingly rising number of food outlets across the globe. Say for instance, the National Restaurant Association claims that the U.S. houses more than 1 million restaurant locations. Majorly driven by the robust proliferation of technology in payment solutions and the escalating proportion of restaurants across the globe, the overall restaurant POS terminals industry size has been estimated to be pegged at a commendable USD 25 billion by 2024.
Author Name : Saipriya Iyer
GPU market to garner extensive proceeds from gaming applications, global industry remuneration to hit a coveted $80 billion by 2024
The rapidly growing adoption for high-precision, graphics-oriented applications in the automobile and healthcare sectors is certain to fuel GPU market growth in the forthcoming years. GPUs have become an essential part of today’s mainstream computers and mobile devices and have been characterized by remarkable advancements with respect to performance and capabilities. The product successfully offers added support for analyzing complex datasets in a quick manner and is increasingly gaining traction in almost all consumer electronics straight from laptops, PCs and smartphones to car infotainment systems and latest digital systems.
Asia Pacific GPU Market Revenue, By Region, 2017 & 2024 (USD Million)
With the growing adoption of IoT devices that gather huge amounts of data which needs to be monitored and analyzed, the demand for high-end computing systems has effectively increased in the automotive sector. Reports suggest that the GPU market will amass quite some returns from the automotive sector owing to an increase in the use of GPUs to accelerate engineering and design applications. As the automotive industry is focusing on developing new vehicles with enhanced design & functionality, GPUs have found applications in CAD/CAM software. With the rising demand for these software increase, the GPU market is expected to witness an accelerated growth rate in the years to come.
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Another application vertical that will help propel GPU market is healthcare, owing to the demand for precision medicine and value-based healthcare. Real-time data has become more vital for healthcare organizations as clinicians seek more accurate information for diagnosing patients during their initial visit. Reports claim that healthcare providers and life science firms are among the 92% of the cross-industry organizations that plan to invest in near real-time big data analytics applications in the future. For instance, in April 2018, tech giant Google announced plans to reinvent the healthcare industry of U.S. with a focus on big data and AI. The company is reportedly using its know-how in AI to create a new system for the detection, diagnosis, and treatment of diverse diseases, that certainly will require GPUs for processing complex data, further augmenting the growth of the GPU industry.
Irrefutably, the gaming domain will be one of the most proliferating end-use sectors of the global GPU market. Mobile gaming is currently acknowledged as one of the fastest growing segments in the game industry – indeed, mobile users demand more immersive, connected gaming experience which provides high-resolution visual graphics and high-fidelity audio. Growing penetration of smartphones and tablets is also fueling the growth of the gaming industry. For instance, according to the ESAC Report 2018, in Canada around 80% users view video games as mainstream entertainment. Furthermore, reports from the Germany Trade & Invest cite that, in Germany, personal computers (PCs) stand as the most preferred gaming platforms with around 18.4M active users, followed by smartphones (17.2M), consoles (15.6M), and tablets (11.5 million).
The rapidly growing use of gaming devices and the paradigm shift towards online gaming are bound to upsurge the demand for high-end graphic processors to support gaming applications. As per estimates, the gaming sector is anticipated to hold a major share of 34% in the GPU market by 2024.
Some of the most preferred brands that have made a mark in the GPU industry include Nvidia, AMD, Intel, Microsoft, Google, IBM, PTC, Qualcomm, and S3 Graphics. GPU chip makers have been making heavy investments in addition to forging partnerships for developing new and better performing products. For instance, in January 2019, Nvidia announced its partnership with luxury carmaker Mercedes-Benz to develop a new automotive AI platform that could effectively offer control to the automaker’s electronic gears equipped in its new car segments.
Author Name :Mateen Dalal
Global semiconductor memory market to procure returns over USD 730 billion by 2024, India to emerge as a highly viable growth ground
The rising demand for enhanced storage memory in consumer electronics for extensive data management is likely to drive semiconductor memory market growth in the years to come. Lately, the demand for advanced semiconductor memory has travelled beyond the realm of the traditional personal computer. The requirement of electronic systems including digital consumer electronics, mobile communications, networking, automotive electronics, and industrial/medical electronics has seemingly surged in recent years, subsequently increasing the need for semiconductors.
China semiconductor memory market, by type, 2017 & 2024 (USD Million)
As a matter of fact, all digital consumer electronic products incorporate highly advanced semiconductor memory devices to enable and enhance system storage and performance. Semiconductors are consequently growing in importance as they offer industries with new manufacturing opportunities to develop highly efficient products for customers. The need for high-speed interconnects continues to accelerate and is driving the architecture of next-gen memory technologies. As a result, memory devices and architectures are changing rapidly to satisfy the demand for higher performance electronics, further driving the semiconductor memory market growth.
Android smartphones to offer remarkable growth opportunities to the semiconductor memory market players
Smartphones have reportedly become the preferred computing device for a variety of applications. Reports suggest that over 70% of the world’s population is anticipated to use smartphones by 2020, while over a billion Android devices will be used by the same year. For several Android smartphones, varying the flash storage drastically improves the device’s overall performance, typically between 100% to 300% across applications.
Storage performance on mobile devices will enhance the end-user experience in the years to come, as its impact is expected to grow owing to emerging wireless technologies that offer much higher network throughput as well as the advent of faster networks and I/O interconnects. This considerably validates the fact that the rising number of smartphones is expected to help drive the remuneration potential of the semiconductor memory market.
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Will India emerge to be a potential investment ground for stakeholder over 2018-2024?
The India semiconductor memory market is anticipated to procure substantial proceeds by the end of the projected timeframe owing to the rising proportion of smartphone users and emerging consumer electronic companies. The region has a steady growth infrastructure and develops emerging embedded technology that offers both hardware and firmware solutions.
The country also depicts considerable growth prospects for the automotive, agriculture, pharmaceutical, IT, construction and defense sectors. The growing adoption of IoT in these sectors will further enhance the demand for semiconductor memory, thereby impelling the regional industry trends. Emerging smartphone applications and the escalating demand for storage memory will also foster industries to develop enhanced memory solutions, expediting the India semiconductor memory industry share.
Some of the key players in the semiconductor memory market include Samsung Electronics, Nvidia, On Semiconductor, Micron Technology, Inc., etc. Manufacturers are focused on product development by investing in R&D activities & engineering capabilities to cater to the needs of mobile industry customers. To stabilize the component pricing, companies are reportedly developing strategies to maintain the average prices of ROM and RAM products. Manufacturers in the semiconductor memory market are also likely to face challenges in the future owing to the emergence of replacements such as MRAM, ReRAM and phase change memory.
As semiconductor memory technology rapidly evolves to meet the ever-growing needs of the electronics industry, it is likely to experience high demand from end-use industries including electronics and automotive. Increased demand and the rapid evolution of smartphones and PCs across the globe will continue to impact the product requirement, on the grounds of which manufacturers will constantly seek ways to expand their production facilities and know-how. This could considerably impact the remuneration portfolio of the overall semiconductor memory market, slated to cross a mammoth USD 730 billion by 2024.
Author Name : Mateen Dalal
Having taken the conventional global lighting marketplace by storm, Europe LED lighting industry, in the recent years has emerged to a fertile investment ground for potential investors. The LED (light-emitting diode) technology, of late, has been gaining traction form variety of reasons, but most notably because of its extended lifespan, lower maintenance, and low energy consumption abilities. In addition, given the strict regulations and energy norms in Europe toward energy efficient solutions, it wouldn’t be wrong to quote that Europe LED lighting market share would soar several notches up in the years to come.
Germany Europe LED Lighting Market Size, by End-Use, 2017 & 2024 (USD Million)
The impact of banning halogen lightbulbs on Europe LED lighting market
According to reports, the EU announced a ban on the halogen light bulbs in Europe on September 1, 2018 and since then has been encouraging the consumers to switch to more energy-efficient LED technology. The ban and the switch – forming a part of Europe’s massive efforts in limiting environmental damage – have undeniably taken over the traditional lighting sales. According to experts, the move however, has also majorly impacted the masses financially as halogen bulbs are much more cost effective than LED lights. Nonetheless, over the years, many research reports have proved that a halogen bulb may be cheaper to buy, but the fact that the electricity cost will be much more expensive will ultimately nullify the price factor. In addition, halogen bulbs have an average life span of two years, while LEDs last for 15-20 years, in extension promoting the sales of LED lightings.
Another factor that further prompted the ban is the fact that LEDs consume only 1/5th of the total energy consumed by halogen bulbs, and phasing out of these traditional lightings will prevent over 15.2 million tons of carbon emission by 2025. According to EU officials for climate action & energy, this is a significant contribution toward fighting greenhouse gas emissions. Thus, the industry analysts report that the EU’s measures to phase out halogen bulbs will provide a strong ground for the growth of the overall Europe LED lighting industry in the coming years.
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The smart cities drive to favor Europe LED lighting industry expansion over 2018-2024
According to recent reports, the global urban population has escalated from 751 million in 1950 to over 4.2 billion in 2018, and is further projected to hit 7.7 billion by 2050. With the demographic changes, smart city projects have been identified as effective and promising way, many of the most emerging in Europe. In fact, the IDC (International Data Corporation) estimates the European spending on smart cities to surpass USD 19 billion in 2018.
Quite overtly, the increasing rate of smart city projects are indirectly expected to favor the growth of LED lightings, given the demand for smart and sustainable lighting products. It is prudent to mention that this trend has also been majorly fueling the smart lighting market, which is recently traversing on a lucrative roadmap, given the crucial role these components play in smart city infrastructure. The regional government has furthermore launched several smart city programs for deploying smart lighting solutions in the outdoor and indoor spaces. The need for sustainable as well as energy efficient lighting systems will further draw lucrative growth avenues for the Europe LED lighting market in the ensuing years.
Europe LED lighting industry magnates to play a major role in altering the business dynamics
With the advent of LED lightings, it comes as no surprise that there have been significant strides amongst the industry leaders to strengthen their regional foothold. Product breakthroughs and innovation remained the most adopted growth strategies for leading the way. A substantiation validating the fact is of Philips Lighting, that has recently introduced smart outdoor LED light bulbs which automatically turns on at night and turns off in the morning. Reportedly, these Philips’ LED Dusk-to-Dawn A19 Frosted Light Bulbs are gaining immense momentum with the smart city drives in the region.
Industry analysts further point out that the government-imposed energy efficiency norms have also been majorly contributing to the overall growth of Europe LED lighting market contenders. An instance bearing testimony to the same is of Future Designs, that has recently announced the development of custom-made LED luminaries to be deployed across many of the stations for the Crossrail transportation system in London, UK. It has been reported that such use of LED lightings in rail settings and subways will be fostering Europe LED lighting market share. Cree is another renowned name, that has recently announced an LED lights retrofit project for the street lights in the quaint New England community.
Clearly, all the above trends are playing a crucial role in the development of Europe LED lighting market size, which is certain to proliferate the profitability quotient of this business sphere. A presumption validating the same is of Global Market Insights, Inc., that claims the Europe LED lighting to surpass a remuneration portfolio of USD 30 billion by 2024.
Author Name : Ojaswita Kutepatil