ENERGY

Top 3 trends fostering solar district heating market outlook

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Solar district heating market forecast is expected to depict a major rise owing to increased urbanization along with population growth and continuously increasing heating demand across the world. District heating is one of the most vital concepts that helps in improving the overall energy efficiency of a community and allows incorporating a higher proportion of renewable heat. With the constantly rising energy prices and increasing expectations of comfort and indoor climate control, solar district heating industry outlook is poised to witness robust growth over the next few years.

It has been observed that buildings consume a vast amount of conventional energy and substantially contribute towards fossil fuels emissions, coercing many countries to plan for introducing policies for minimizing the consumption, by transitioning buildings into more energy efficient structures. Governments are playing a major role by implementing stringent regulations to focus on integrating renewables into existing energy systems. Enumerated below are certain trends outlining the prospects for global solar district heating industry share.

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Consumption behavior in the commercial and residential sectors

The use of solar energy has been critically important for commercial buildings such as malls, big-box stores, and office complexes. Natural gas and conventionally generated electricity have become the most common sources used in commercial spaces for cooling and heating purposes. Utilities are gradually shifting their preferences towards renewable energy sources for district heating and cooling that help in meeting rising urban energy needs and providing cost-effective option to commercial and residential buildings.

Prominent reports suggest that global residential solar district heating market is likely to reach a valuation of USD 3 billion by 2025. In August 2019, Savosolar has reportedly signed an agreement with a French based company Kyotherm Solar to deliver a solar heating system in Issoudun France. Savosolar will provide the largest part of the solar thermal plant and the construction and system delivery will begin during autumn 2019, with handover projected to start around spring 2020. Similar developments and increasing R&D activities help in utilizing solar energy more efficiently, propelling solar district heating market size.

Rising renewable energy expenditure in Asia Pacific region

Asia is one of the fastest growing regions in the world in terms of energy demand to fuel its increasing pace of economic expansion. Emerging economies like India, China, and Japan are adopting advanced methods for renewable energy deployment and placing them at the forefront of the energy transition. Countries like Japan have numerous district heating and cooling operators presently working across the country to meet varying consumption trends.

The government of Japan is accelerating efforts by massively spending on green innovations and promoting private and public partnerships to make the public aware about environmental preservation and economic development, augmenting opportunities for solar district heating industry. In 2018, Daiwa House in Japan had commenced its first energy self sufficient office, the first in Japan to use renewable energy and conduct verification testing and experiments for energy efficiency. Introduction of similar commercial buildings will foster possibilities for renewable-based heating and cooling.

Expansion of renewable energy infrastructure globally

Energy intensive industries like chemical, refinery, and paper sectors represent over 80% of the total global electric combined heat and power (CHP) capacities. Additionally, industries are directing rigorous efforts towards increasing the deployment of renewable energy technologies and providing local manufacturers a large scope of making efficient use of resources through favorable cost reductions.

In August 2019, Statkraft, a Norwegian state-owned hydropower company had acquired Airvolution Clean Energy, an onshore wind developer, for holding a 1.2GW renewables portfolio in the UK by 2025. The agreement has been made with the aim of deploying 600MW of solar power and onshore wind in the UK. With the initiation of these strategic agreements along with various government aided schemes, district heating and cooling systems can enjoy reliable sources of energy.

With the majority of technological advancements and investments in the developing smart and energy-efficiency cities, the demand for district heating and cooling systems will rise considerably. Investment in renewable energy is rapidly expanding across the world to tackling global warming. Favorable government policies along with strategic mergers and acquisitions to expand production capacities will be profitable for utilities looking to accelerate solar power adoption. According to Global Market Insights, Inc., solar district heating market size is expected to surpass USD 7 Billion by 2025.

Author NameDeeksha Pant

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North America high voltage cables market to register modest proceeds by 2025

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Increasing inclination towards renewable energy and growing necessity to attain better energy efficiency will drive high voltage cables market share in the forthcoming years. Rising need to curb carbon emissions will also foster industry growth.

High Voltage Cables Market Size, By Voltage, 2018 & 2025 (USD Million)
High Voltage Cables Market Size, By Voltage, 2018 & 2025 (USD Million)

Open Access Government estimates that the world consumes 93,000 m3 of natural gas, 1066 barrels of oil and 221 tons of coal every second. The carbon emitted through these consumption practices has a detrimental effect on the environment. This will increase the demand for renewables and impel high voltage cables market expansion.

The Paris Agreement has played an important role in urging several nations to accelerate the pace of transition toward renewables. Renewable energy is now regarded as the second largest source of electricity in the United Kingdom. The rising inclination toward renewables will propel the regional high voltage cables market size.

The rising need to achieve energy efficiency is propelling the widescale adoption of smart grid technology. Smart grids bring forth energy reliability, cost saving and energy consumption management and will also open up growth prospects for high voltage cables market in the upcoming years.

Many countries are facing the challenge of maintaining and upgrading their respective energy distribution network. Rapidly ageing energy distribution infrastructure will fuel North America high voltage cables industry share. The U.S. power distribution infrastructure is estimated to be worth approximately $876 billion. The U.S. Department of Energy claims that 75% of the nation’s high voltage transmission lines and transformers are well over 25 years old.

The rising need for modernization of the power infrastructure in the U.S. will drive North America high voltage cables market outlook. Global Market Insights, Inc., anticipates high voltage cables market size to grow at a CAGR of 8.8% over 2019-2025

Asia Pacific will be a major regional growth avenue for high voltage cables market in the years to come driven by rising product demand from Southeast Asia. According to the International Energy Agency, the 10 nations that make up the Association of Southeast Asian Nations (ASEAN) currently represent one of the world’s most dynamic energy market. This can be credited to the region’s energy demand that has increased by approximately 60% over the last one and a half decades.
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ASEAN nations are undertaking several initiatives to ensure uninterrupted power supply. With a population of nearly 640 million, around 65 million still live without electricity. The rising need to enable consistent electricity supply will drive APAC high voltage cables market share.

The solar energy industry expansion in Australia will fuel Asia Pacific high voltage cables industry size. Australia is known to have the world’s highest level of average solar radiation per square meter. According to the Australian Renewable Energy Agency, large-scale solar power based electricity is expanding at an unprecedented rate across the region.

Close to two million homes across Australia have solar energy systems installed on their rooftops. Today, electricity generation across the country is increasing rapidly in response to favorable Australian government’s policies, especially the Renewable Energy Target. The Australian Government aims to establish a solar power generation capacity of approximately 1000 megawatts (MW). This trend will help to drive the regional high voltage cables industry share.

The increasing number of government initiatives directed toward promoting renewable energy and the need to revamp grid infrastructure will propel high voltage cables market size. Prominent companies in high voltage cables market include Alfanar, Sumitomo, Riyadh Cables, Taihan Electric, Nexans, ABB, and Sterlite Power. These companies adopt organic as well as inorganic tactics such as business collaborations and mergers and acquisitions to increase market share.

Global Market Insights, Inc., estimates that the worldwide high voltage cables market share will exceed $29 billion by 2025.

Author Name : Akshay Kedari

 

Surgical robots market to register double-digit CAGR over 2019-2025, technological advancements in medical robotics to drive industry expansion

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With technological advancements all set to revolutionize healthcare in the coming years, surgical robots market is anticipated to capture a significant share of the changing medical industry. Of late, precision robots have been able to make minimally invasive surgeries a reality and are being increasingly used in the fields of urology, gynecology, oncology, gastroenterology, thyroid, bariatric, colon and rectal surgeries. Not only does robotic surgery vastly assist doctors in increasing dexterity and reducing fatigue, advancement in robotic technology recently made it possible for the surgeon to conduct the world’s first telerobotic surgery from 32 kilometers away.

U.S. Surgical Robots Market Size, By Component, 2018 & 2025 (USD Million)
U.S. Surgical Robots Market Size, By Component, 2018 & 2025 (USD Million)

Besides such ground breaking progress, surgical robots have been involved for long procedures like knee and hip replacement. For instance, Mako Surgical, the Michigan based orthopedic device giant recorded nearly 76,900 knee and hip replacement procedures in 2018 with 650 Mako robots placed around the world.

Surgical robots market is expected to gain a massive CAGR over 2019-2025 as current trends in healthcare have conclusively indicated that robotic surgery is the future of surgical procedures. There are several prominent factors that will be adding palpable stimulus to the surgical robots industry, the chief among them being a rapidly expanding geriatric population. The aging of the baby boomer generation has affected many aspects of the healthcare sector primarily due to the fact that older individuals tend to require more healthcare services including surgeries. Demographic trends such as the aging of millennials, especially female millennials should also be taken into consideration as far as surgical robots industry projection over the coming years is considered, as hysterectomies are most commonly conducted on women in their early 40s and medical robots are often used in such procedures.

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Prominent surgical robots like Da Vinci, developed by robotic surgery company Intuitive Surgical, completed 5 million surgeries in 2018 through the more than 4,500 surgical robots sold by the company worldwide. Intuitive Surgical, the Sunnyvale, California based company holds a dominant position in the surgical robots industry and in 2019 made it to the headlines as it undertook steps to expand its footprint in Sunnyvale investing over $15 million for expanding its area by 36,000 sq.ft. Such investments not only underline Intuitive’s massive success in the manufacturing of advanced medical devices but also the return of investment promised by robotic surgery in the future.

Since experts in the medical field consider robotic surgeries to be the future of myriad surgical procedures, various surgical robotic companies such as TransEnterix, Mazor Robotics, Stryker, Medrobotics are striving to capture larger share in the surgical robots market. For instance, in late 2017 TransEnterix gained FDA approval for its Senhance robotic surgery system that has the potential to challenge the Da Vinci surgical system in the future. Medtronic, the medical-device giant, with its acquisition of Mazor Robotics, plans to launch its own robotic surgical system that is anticipated to present a challenge to Intuitive Surgical.

Johnson & Johnson has made its foray into robotic surgery with the acquisition of Auris Health. Auris’ surgical robotic system such as the Monarch is a competitor for the ION system designed by Intuitive for minimally invasive lung biopsy. Additionally, Johnson & Johnson is also working with Verily, an Alphabet subsidiary, over a joint venture named Verb Surgical that focuses on developing robotic surgery technology.

Researchers seem to be on the run, and are expected to continue developing surgical robots that add precision to a surgeon’s maneuvers. Rather they are surging forward with the development of robots that can perform surgeries on their own. Recently, ripples had been created in the surgical robots industry with bioengineers from Boston Children’s Hospital developing a robot that has navigated independently within an animal heart to repair a cardiac valve. This goes beyond surgeons using controllers in surgical procedures and utilizes AI and image-trained algorithms for autonomous navigation. With the rapid pace of technological innovations assuring further advancements in the field of robotic surgery technology, surgical robots market size is poised to surpass $24 billion by 2025.

Author NameParoma Bhattacharya

Gas insulated power equipment market expansion to be characterized by the launch of new gas insulated transmission lines, Asia Pacific to emerge as a major growth terrain for the industry

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The promising growth graph of the global gas insulated power equipment market can be comprehended by the recent launch of a 550kV-class gas insulated switchgear by Toshiba which has facilitated transportation of a single line main unit as a whole unit for the very first time in the world. The Japanese multinational succeeded in lowering the volume of the gas insulated switchgear by almost 20 percent, while realizing a considerable cost reduction by cutting down the number of parts.

Gas Insulated Power Equipment Market, By Product (USD Million)
Gas Insulated Power Equipment Market, By Product (USD Million)

Moreover, the installation work time has also been reduced substantially as a lesser amount of time is being needed for assembly and testing on site. Taking into account the aforementioned ingenuity shown by leading gas insulated switchgear manufacturers, it is a given that such technological progress would favor the gas insulated power equipment industry in the times to come.

How is the gas insulated transmission line product segment impelling the growth prospects of the overall gas insulated power equipment industry?

When it comes to the product spectrum of the gas insulated power equipment market, the prominence of gas insulated transmission line has grown in the recent years owing to its excellent characteristics such as minimal electrical ageing, low maintenance cost, and effective capacity to withstand short-circuit. One of the major factors that has favored the increasing popularity of this segment is the fact that numerous gas insulated transmission line makers have focused on research and development activities to create new products that would reduce environmental hazards and the total project cost.

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The German manufacturing behemoth Siemens AG, for instance, has recently introduced a new gas insulated transmission line for transporting large volumes of energy at high DC voltages. Reputed universities such as Dresden University of Applied Sciences, Berlin Technical University, and Eastern Bavarian Technical University Regensburg have supported the research team from Siemens to develop a new gas insulated DC transmission line named the Compact Transmission Line for Direct-Current High Voltage for laying underground.

It has to be noted that the presently available gas insulated transmission line is suited for only alternating current. The uniqueness of Siemens’ transmission line lies in the fact that specific properties at high direct voltages have been taken into consideration while designing the components. Moreover, the gas insulated power equipment industry is witnessing for the first time that a transmission line can transmit up to 5 GW of power per system. Needless to mention, such high voltage transmission capability along with enhanced insulation properties of the new products is ensuring that gas insulated transmission line segment contributes massively to the expansion of the gas insulated power equipment industry.

In terms of regional growth graph, Asia Pacific nations would be the major consumers of gas insulated switchgear and transmission lines owing to the ever-increasing power demand from emerging economies. Evolving power consumption patterns in corporations and households along with swift technological progress would augment Asia Pacific gas insulated power equipment industry. In this regard, it quite prudent to mention that developing nations such as India and China would be leading consumers of gas insulated power equipment as they continuously build electrical capabilities and infrastructure to meet the growing demand for electricity.

It comes as no surprise that gas insulated switchgear and transmission lines are being increasingly installed at substations and power facilities as they are viewed as a system essential to ensure a stable supply of electricity. Owing to this changing mindset of larger energy producers and the necessity to reduce maintenance personnel and site area, the revenue target of gas insulated power equipment market, as per reliable estimates, is set to exceed USD 30 billion by 2025.

Author Name :Saif Ali Bepari

How will the commercialization landscape of FACTS market change with the rising demand for grid modernization and the surging adoption of renewable energy?

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The revenue graph of flexible AC transmission systems market is slated to remain rather exponential in the years to come, on account of the rising need for high-quality power across numerous applications. The demand for high-quality AC transmission of electric energy can be attributed to the need to improve controllability and enhance power transfer capability of the network. There are also several benefits to using flexible AC transmission systems such as increased quality of supply, increased stability as well as financial benefits.

Flexible AC Transmission Systems Market Size, By Configuration, 2018 & 2025 (USD Million)
Flexible AC Transmission Systems Market Size, By Configuration, 2018 & 2025 (USD Million) ?

Given the increasing adoption of various electrical components, the adoption graph of FACTS industry will continue to proliferate in the years to come. Transmissions are required to accommodate large weather-dependent shifts in production within widely dispersed sites of renewable energy generation, which are mostly linked to the main transmission grid. The growing requirement for premium and reliable transmission systems will thus drive the FACTS market.

Global warming will dramatically impact the demands pertaining to transmission systems whose architecture is inherited from an era of fossil fuel dominance. The industry will be characterized by a massive need to upgrade existing grid networks, particularly due to the increasing adoption of clean energy sources. The primary goal behind revamping grids is the flexibility to adapt to new technologies in the grid.

Grid modernization has become a catch-all phrase to refer to changes required in the power grid. Grid modernization always implies the growing application of new technologies that are enhancing the intelligence of the grid. Furthermore, as humanity becomes more dependent on the seamless flow of electricity, the vulnerability of the grid grows by the day. Failure of the system for prolonged durations could have serious consequences. Therefore, increasing efforts and spending toward grid modernization will also contribute toward the enhancing FACTS market share in the coming years.

The rapid adoption of renewable sources for electricity generation serves as another driving factor for the global industry. FACTS devices play a vital role in shifting bulk generation of power to remote areas from the present grid structure to raise the concentration of load-centered generation. Systems dominated by renewable sources will also require new means to bolster and stabilize AC networks without coordinating help from rotating generators.

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Recently, the New York Independent System Operator approved new transmission projects, in order to meet the state’s clean energy standard, and help make the overall system more affordable and reliable. The project is anticipated to benefit the state’s electric consumers by allowing the provision of environmentally desirable power necessary to meet state energy goals. Projects like these have encouraged installers to direct their focus on restructuring the present electrical infrastructure, which has led to an immense surge in the demand for flexible AC transmission systems. Hence, the rising adoption of renewable energy networks will favor the global FACTS industry outlook over the coming years.

The system’s ability to prevent unbalanced loads, voltage fluctuations as well as fluctuations in power will also help contribute substantially toward the industry expansion. Natural disasters often end up destroying poles, grids, transmission lines and transformers leaving millions of people without power. However, installations of FACTS safeguard the system and enhance the operational life of the entire electric network.

For example, in 2017, when hurricane Maria hit America’s territory in the Caribbean, it left millions without power for weeks. Given ongoing outages and the region’s deferred maintenance, the island is set to rebuild a new grid based on a resilient and cleaner model. Recently, the island also pledged to reach 100% renewable energy by 2050 and link new sources of clean energy and microgrids to the main power system. Expansion or upgradation of grid networks in a bid to safeguard the system and enhance the operational life of electric infrastructure will thus boost the global FACTS market share over the coming years.

The global flexible AC transmission systems industry is bound to receive considerable momentum from the paradigm shift observed in the power transmission industry. As per a research report by Global Market Insights, Inc., FACTS market size would exceed $2.5 billion by the end of 2025.

Author NameKrithika Krishnan

Europe Biogas Market to witness major gains via commercial & industrial applications over 2017-2024, Germany to majorly contribute toward the regional growth

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The shifting trends toward the anaerobic digestion of organic wastes and generation of energy from biogas are all set to impel biogas market in Europe. Having garnered a reputation of making substantial contributions toward the maintenance of green environment & energy conservation, biogas has found immense penetration across the food & beverages, waste-to-energy, power, and technology industries. Regional governments in Europe are encouraging the use of biogas across the region by providing tax benefits, feed-in-tariffs, and rebates to the end-users. Earlier this year, Germany has announced its goal of lowering carbon emissions by 40% till 2020 and by 95% up to 2050. It has been projected that renewable energy would account for 60% of the country’s overall energy consumption by 2050, thereby creating a favorable growth path for the country in Europe biogas market. Biogas power stations have also accounted for a major portion of Germany’s bio energy industry. The region possessed nearly 8900 of biogas power stations in 2015, which is another positive indicator that Europe biogas market would accrue lucrative gains in the ensuing years.

 Germany Biogas Market Size, By Feedstock, 2016 & 2024 (USD Million)

      Germany Biogas Market Size, By Feedstock, 2016 & 2024 (USD Million)

Firms such as Geotech and Ansyco have firmly established their presence across Europe biogas market through the launch of novel gas analysis technologies. Recently, in a bid to expand their product portfolios, both the firms have collaborated to develop an innovative system referred as BIOGAS 3000 capable of effectively & constantly monitoring and analyzing of biogas production processes. In an important breakthrough witnessed across the biogas industry in Europe, DuPont and Bock UK Limited have also made a strategic pact that will help the latter depict DuPont’s new biogas enzyme technology referred as OPTIMASH® AD-100 for its commercial sale across the U.K, which would certainly augment Europe biogas market.

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Biogas is inherently deployed across the residential, industrial, and commercial arenas. The mounting demand for power supply, environmental awareness, and the rising preference for renewable energy sources have resulted in commendable demand & large-scale deployment of biogas manufacturing plants in Europe. As per estimates, biogas applications across the industrial sector in Europe will surpass an annual installation of 600 MW by 2024. The escalating requirement for low-power & cost-efficient technologies for treating biodegradable wastes is slated to impel Europe biogas market from commercial applications.

With the rising trend of using sustainable energy across the continent, Europe biogas industry is expected to have bright growth prospects in the ensuing years. Effective government measures such as providing tax concessions and rewards for the biogas applications are expected to impel the growth of this business sphere in Austria, which would considerably augment the revenue graph of Europe biogas market as well. Germany, on the other hand, is expected to surpass 300 MW by 2024, subject to the rising need for curbing carbon emissions and maintaining a green environment. The numerous efforts undertaken by member countries are certain to stimulate the growth of Europe biogas industry.

Rising economies of scale are expected to encourage companies to make heavy investments across Europe biogas industry. With the continent touted to be the hub for renewable energy in the future, it comes as no surprise to note that Europe biogas market has been forecast to surpass a revenue of USD 2 billion by 2024.

Author Name : Dhananjay Punekar

U.S. commercial boiler market to be strongly characterized by energy sustainability trends, annual installations to surpass 80,000 units by 2024

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Shifting preference toward energy efficient boilers for carbon footprints abatement is providing a significant impetus to U.S. commercial boiler market outlook.  Add to it, mandatory roll outs in the country for the reduction of the hazardous gas emissions is further encouraging the end use industries to rapidly deploy these energy efficient commercial boilers. EPA, for instance, has recently initiated NESHAP (National Emission Standards for Hazardous Air Pollutants) to govern carbon emissions across commercial and industrial sectors. In tandem with the regulatory framework, technological interference has also played a major role in influencing the overall U.S. commercial boiler market dynamics. Building automation systems, boiler to boiler communication, and remote diagnostics are some of the novel technologies that have immensely complemented the product landscape. Driven by such affluent advancement pipeline, the U.S. commercial boiler market stood at USD 3,000 million in 2017.

  East South Central Commercial Boiler Market size, By Capacity, 2016 & 2024 (USD Million)

  East South Central Commercial Boiler Market size, By Capacity, 2016 & 2024 (USD Million)

The remarkable expansion of U.S. commercial boiler market can be majorly credited to the country’s growing investment in healthcare and educational sectors. In 2016, U.S. registered a healthcare expenditure of USD 3 trillion, which was almost 17% of the nation’s GDP. The widening scope of potential healthcare applications ranging from space and water heating in hospitals to equipment sterilization indeed has increased the U.S. commercial boiler market demand. According to the Centers for Medicare & Medicaid Services (CMS), approximate healthcare spending in the U.S. in 2016 was USD 10,000 per person – a data bearing testimony to the strong stance the healthcare application holds in the regional landscape. The region further being swayed by cold climate further provides a slew of opportunities to the commercial boiler industry players. For the record, North Dakota, Minnesota, South Dakota, Alaska have been touted as the coldest regions in the U.S. with recorded average winter temperature of up to 12°F.

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Elaborating further on the application landscape, the commercial infrastructure development, particularly the office sector is significantly driving the commercial boiler market demand in the U.S. As per estimates, the U.S. commercial boiler industry share from office applications was recorded at USD 700 million in 2017. With the go-green notion encompassing the infrastructure domain, this application is set to garner lucrative proceeds in the ensuing years. Ohio stands as a major beneficiary of the growing trend of energy efficient buildings. From 2014-2015, Ohio’s construction sector witnessed a surge of 6%. The overall Ohio commercial boiler industry share is forecast to exceed USD 150 million by 2024.

In terms of the fuel prevalence across U.S. commercial boiler industry, natural gas-based boilers have garnered immense traction, primarily owing to their low emission rates and superior efficiency. As per reliable data, natural gas is touted as one of the chief fuels in the commercial sector with more than 3,177,099 million cubic feet recorded consumption in 2017. In terms of the profitability potential of these boilers, the gas fired U.S. commercial boiler industry is projected to surpass USD 3 billion by 2024. The demand for oil fired boilers is anticipated to be sluggish with a target CAGR of 2% over 2018-2024, on account of low efficiency and high emission rates.

Regionally, Florida, Virginia, Texas, and Delaware are the four major significant geographies that display a strong contendership in the U.S. commercial boiler market. Florida had a notable contribution toward the overall industry share in 2017 and is anticipated to surpass an annual installation of 1500 units by 2024. Robust development in the medical and tourism sectors is chiefly stimulating the regional growth. Texas commercial boiler market is also projected to generate a substantial momentum in the overall landscape, having procured 50% of the West South Central commercial boiler industry share in 2017.

All in all, the U.S. commercial boiler market has been undergoing a radical transformation over the recent years. With the resurgence of commercial sector and rising and unstoppable notion of go-green capturing the entire business fraternity, commercial boiler industry is set to emerge as one of the most affluent verticals of the energy cosmos. The fraternity is forecast to surpass a revenue of USD 3.5 billion by 2024.

Author Name :Satarupa De