Sustainable & Smart Technologies
Machine translation market is likely to chart out a flourishing growth path over the years, with many firms adopting MT tools to avoid the language barrier while expanding their business across the globe. The implementation of machine translation will help to provide a cost-effective solution to customers and reduce the overall project timeline. As per the report by Global Market Insights, Inc., “Worldwide machine translation market generated a revenue of more than USD 400 million in 2016 and will record an annual growth rate of 19% over the coming years of 2017 to 2024.”
U.S. Machine Translation Market Share, By Application, 2016
Healthcare, IT, electronics, automotive, and military & defense are the prominent applications of machine translation market. Healthcare application segment will exhibit noticeable growth rate over the coming years of 2017 to 2024. The growth can be attributed to the growing requirement of translating a vast number of clinical documents. Moreover, the escalating research across the healthcare sector will also boost the requirement of MT tools, which in turn, will influence machine translation industry size positively. Installation of this technology across the healthcare sector will help interpret insurance claim forms, medical documents, IVR scripts, patients records, and educational material.
The IT sector will generate a huge revenue due to the emergence of e-commerce, which needs machine translation tools to explore business opportunities around the globe. This, in turn, will stimulate machine translation market size over the coming seven years. The automotive sector is also another lucrative avenue that will generate noticeable gains over the years ahead.
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Based on the technology, machine translation industry is mainly divided into RBMT and SMT. RBMT technology segment is anticipated to register an annual growth rate of more than 14% over the period of 2017 to 2024, primarily driven by its superior grammatical and predictable approach of breaking down the source and target languages pertaining to the incorporation of vocabulary.
SMT dominated the technology segment in machine translation market in 2016 by accounting for more than 60% of the global revenue contribution and will register a significant growth rate over the coming timeframe, due to the increasing requirement of fast computing and cheap hardware.
Geographically, U.S. will be the prominent revenue generator for North America machine translation industry share, owing to the availability of ample service providers across this region. Favorable government support from organizations such as the Defense Advanced Research Projects Agency (DARPA) will also augment the industry growth.
Asia Pacific machine translation market will generate lucrative revenue over the years ahead. The growth can be attributed to the growing adoption of MT tools, mainly across China and India, primarily owing to the fact that these regions exhibit the existence of various local languages. This, in turn, will boost the demand for machine translation market products. Most of the firms across India are implementing MT tools to minimize the communication barrier, which is predicted to create an attractive growth avenue for the industry participants.
Market players are investing significantly in research & development activities to introduce products based on advanced technologies into the market, which will help them gain considerable profit. Some select industry giants are also engaging in strategic partnerships to expand their customer base. The key players in machine translation market are Moravia IT, Lionbridge Technologies Inc., Google Inc., IBM Corporation, Systran International, and Microsoft Corporation.
Author Name :Sunil Hebbalkar
Window Automation market to exhibit highest growth via residential applications over 2016-2024, surging demand for hybrid products to boost the industry share
Taking into account the end-use segment, window automation market is mainly divided into contractors, profile houses, façade builders, and window manufacturers. Shifting trends toward smart homes and the availability of automated building solutions will favor the growth of industry in profile houses, in which many of the OEMs are investing significantly to attract more customers. Window manufacturers was a dominant end-use segment and contributed majorly toward the global industry share. The surging investment in R&D activities will create high demand for the product across the various application areas such as industrial, residential, and commercial sectors.
Europe Window Automation Market Size, By Product, 2015 & 2024 ($ Mn)
The escalating investment in commercial infrastructure development such as airports, educational institutes, retail, healthcare, public transit, and hospitality will generate heavy demand for window automation. Residential application segment is predicted to register highest annual growth rate over the coming years of 2016 to 2024, primarily driven by the changing consumer preference toward automated products pertaining to low energy consumption. In addition to this, shifting trends toward smart homes will also propel window automation industry size notably.
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Hybrid, mechanical, and electric are the key products of window automation market. Hybrid products save lots of energy, as they use mechanical components. In addition, the use of the fan is avoided, which will reduce the total electricity cost. This, in turn, will fuel window automation market share. Electric window automation held the largest share of the global market in 2015 and is predicted to collect significant revenue over the coming seven years. The growth can be attributed to the implementation of highly reliable and automated sensors and actuators in the devices.
Considering the regional landscape, China window automation market size will collect considerable revenue over the years ahead. China has implemented various building codes to propagate natural lighting, smoke evacuation, and ventilation. This, in turn, will augment the market growth.
Europe window automation industry will exhibit substantial growth rate over the period of 2016 to 2024, owing to the growing product adoption to generate cooling or heating effects in desirable weather conditions. Moreover, regulatory norms regarding the work safety across the smoke ventilation application will boost the need for window automation.
Window automation market is widely fragmented across the globe. Most of the companies are working on cost reduction and product differentiation. Many market participants are expanding their regional distribution channels to gain considerable profits. Joint ventures and acquisitions are key growth strategies adopted by market players to sustain the competitive business space.
Author Name :Sunil Hebbalkar
U.S. smart water metering market to record huge gains over 2017-2024, high adoption across the commercial sector to accelerate the regional growth
As the world experiences a tremendous need to conserve natural resources such as water, smart water metering market will gain considerable traction, subject to the rising demand for efficient water consumption. Smart meters help record real-time data and reduce water bills, thereby enabling water conservation. The deployment of smart water meters will augment the rising efforts to save water and prevent its unnecessary wastage, thereby stimulating smart water metering industry. A report by Global Market Insights, Inc., states that smart water metering market, worth more than USD 6 billion in 2016, will register a revenue of more than USD 14 billion by 2024.
Stringent regulations toward the conservation of water and the regulation of the water distribution network will propel smart water metering industry. As per the EC Directive 2000/60/EC, it is mandatory for respective nations to prioritize the prevention of water wastage and water conservation, especially in drought-ridden areas of the region. Technologically, smart water meters can be deployed based on two key technologies – automatic meter reading (AMR) and automatic meter infrastructure (AMI). AMR-based smart water metering market is slated to surpass 150 million units by 2024, primarily driven by the increasing adoption of this technology across myriad application sectors for the last two decades. AMR technology is also deployed in smart electric meters and smart gas meters, thereby stimulating global smart electric meter industry and smart gas metering systems market respectively.
Germany Smart Water Metering Market Size, By Application, 2016 (Million Units)
Smart meters help curb water losses and streamline billing processes. Water utilization data gathered by AMI-based smart meters also help identify problems in water distribution and manage water allocation in an efficient manner, which eventually serve to understand consumer requirements. On these grounds, AMI-based smart water metering market size is slated to exceed 50 million units by 2024, with a CAGR projection of 10% over 2017-2024. While AMI technology is relatively advanced, its excessive cost may restrain the market growth over the next few years. This technology is widely deployed across residential and utility application sectors.
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Smart water meters, in general, find massive applications across the commercial, residential, and utility sectors. Smart water metering industry from commercial applications will witness a CAGR of more than 155 over 2017-2024, driven by rising water bills pertaining to the irregular supply of water. End-users of commercial applications have gauged the importance of water and the effects of unregulated resource spending on the application sector, owing to which smart water metering market from commercial applications is likely to witness enormous growth prospects. Commercial applications accounted for more than 35% of the overall smart water metering market in 2016.
Smart meters are widely used across residential applications, subject to the high demand for transparency in water utilization and billing. Smart water metering industry from residential applications will exceed 90 million units by 2024, pertaining to the rising need for efficient consumption tracking and water bill reduction.
AMI-based smart meters are particularly used across the utility sector, for efficient water allocation and management. Stringent regulations regarding water conservation will drive smart water metering market from utility applications, projected to grow at a CAGR of 13% over 2017-2024.
Glendale was the first city in the United States that set a benchmark for better utility management and responding to unexpected natural calamities such as droughts, by means of implementing smart meters to develop a smart grid network. Rising adoption of smart water meters and strict norms pertaining to accurate billing and water conservation will drive U.S. smart water metering industry, set to surpass USD 3 billion by 2024. Government regulations toward the accountability of NRW (non-revenue water) will also augment the regional growth.
UK smart water metering market is forecast to grow at a CAGR of 12% over 2017-2024, subject to the increasing demand for smart metering infrastructure. The government of Japan aims to achieve a 100% roll-out of smart water meters by 2025, which will propel Japan smart water metering industry, worth USD 300 million in 2016.
Companies operating in global smart water metering market are engaged in periodic mergers and acquisitions to consolidate their position. Key participants include Datamatic, Arqiva, Neptune Technology, Siemens AG, Diehl, Arad, Itron, Elster, Badger Meter, Aclara Technologies, Sensus, Xylem, Landis+Gyr, and Kamstrup.
Author Name :Saipriya Iyer
U.S. to drive sludge dewatering equipment market growth over 2016-2024, rising concerns regarding ecological damage to boost the regional revenue
Strict government measures addressing the most vital issues pertaining to waste disposal will upswing sludge dewatering equipment market growth. The U.S. Solid Waste Disposal Act of 1965 forbids landfilling, waste disposal oceans, and sludge burning. Rising volumes of sludge, especially in the urban areas has caused enormous ecological deterioration, prompting the necessity of effective sludge disposal. Emerging wastewater treatment chemicals sector is forecast to have a significant influence on the industry revenue. As per Global Market Insights, Inc., “Sludge Dewatering Equipment Industry, which accumulated a revenue of USD 3 billion in 2015, is slated to surpass USD 4.9 billion by 2024.”U.S. Sludge Dewatering Equipment Market size, by application, 2014-2024 (USD Billion)
U.S. Sludge Dewatering Equipment Market size, by application, 2014-2024 (USD Billion)
Escalating demand for sludge dewatering equipment across the horticulture, cement production, farming, mineral processing, and mining sectors has encouraged new entrants to enter the business. This has helped established industry players to focus more on business expansion through strategic alliances and product innovations. The aforementioned factors have contributed substantially towards sludge dewatering equipment market growth.
Sludge dewatering equipment makes use of prominent technologies such as screw disc, belt filter press, centrifuges, and rotator disc. Centrifuge technology, which contributed more than USD 800 million to sludge dewatering equipment industry revenue in 2015, is predicted to register an annual growth rate of 5% over the period of 2016-2024. Municipalities prefer this technology to dispose sludge wastes.
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Rotator disc technology, which accounted for over USD 600 million of the overall industry share, is forecast to observe robust expansion in future. Extensive R&D activities for introducing convenient and cost-effective equipment will further impel the industry growth. Sludge dewatering equipment market revenue from screw press technology is expected to hit USD 1.5 billion by 2024. The rising need to effectively dispose industrial wastes within a shorter span is expected to raise the demand for this technology. Belt filter press technology is projected to contribute over USD 600 million to the overall revenue by 2024.
Sludge dewatering equipment find applications across industries and municipal corporations. Industrial applications are forecast to surpass USD 2 billion by 2024 as a result of the chemical and manufacturing sectors contributing toward large waste heaps. Sludge dewatering equipment industry size in municipal corporations is expected to grow at a CAGR of 4% during the period from 2016 to 2024. Stringent rules to eradicate domestic wastes coupled with proficient waste processing management will benefit the business landscape.
Considering the geographical trends, North America sludge dewatering equipment industry is anticipated to register a CAGR of 3% over the coming seven years. Increasing awareness about the adverse effects of environmental pollution on human health along with strict norms prohibiting inappropriate disposal of wastes will augment the regional expansion. The large presence of sludge dewatering units in the region will further contribute towards the industry growth. U.S. sludge dewatering equipment market, estimated at USD 1 billion in 2015, is likely to drive the regional revenue.
Europe sludge dewatering equipment market is expected to grow considerably over the span of few years. The growing menace of pollution due to sludge waste along with low land availability for waste disposal will be the key growth drivers. UK and Germany are projected to be the chief contributors toward the regional growth. Germany sludge dewatering equipment industry is forecast to record a CAGR of 4% over 2016-2024, while UK industry is forecast to hit USD 450 million by 2024.
China sludge dewatering equipment industry, which is likely to exceed a revenue of USD 400 million by 2024, will propel APAC market. South Africa sludge dewatering equipment industry is projected to register significant gains of 6% during the period of 2016 to 2024.
Phoenix Process Equipment Company, Alfa Lava AB, Palmetto Water Solutions LLC, Andritz AG, J.M. Huber Corporation, Dewaco Limited, Aqseptence Group, and The Hiller Companies Incorporation are the key participants of sludge dewatering equipment industry.
Author Name :Dhananjay Punekar
AMR-based smart gas metering systems market to depict remarkable growth over 2017-2024, U.S. to witness massive adoption rate
Changing consumer preferences toward smart gas-operated devices due to surging conventional energy costs will push smart gas metering systems market over the coming seven years. The government has been striving to launch initiatives regarding efficient energy consumption and management, prompting the usage of gas meters. To add to this, escalating innovations in the technological sphere have encouraged the integration of IoT in gas-operated systems, which will stimulate smart gas metering systems industry share. Across the globe, most of the countries have now implemented strict rules and regulations to prohibit the wastage of energy, which is bound to spur the demand for gas-powered systems. As per the report by Global Market Insights, Inc., “Worldwide smart gas metering systems market was worth 5 billion and will surpass a revenue collection of USD 11 billion by 2024 .”
U.S. Smart Gas Metering Systems Market Share (Revenue), By Application, 2016
Below is the in-depth analysis of smart gas metering systems industry based on technology and application over 2017-2024:
- Utility, residential, and commercial are the main application sectors of smart gas metering systems market. Utility applications covered more than 30% of the revenue share in 2015 and will exhibit a considerable growth rate over the years ahead, owing to increasing product demand across myriad end-use industries. Residential application segment was worth USD 1 billion in 2016 and will record noticeable growth rate over the coming timeframe, augmented by the rising awareness among consumers regarding effective energy management. Commercial applications accounted for more than 33% of total smart gas metering systems industry share in 2016 and will lucratively grow over the period of 2017 to 2024. The increasing preference toward gas-powered devices will drive smart gas metering systems market growth noticeably.
- Advanced meter reading (AMR) technology will cover a size of 150 million units by 2024, primarily driven by ample product availability and reduced prices. Another flourishing technology segment in smart gas metering systems industry is automatic meter infrastructure (AMI), which will record a CAGR of more than 10% over the coming years of 2017 to 2024.
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Geographical trends influencing global smart gas metering systems market are detailed as under:
- US. smart gas metering systems market will surpass a revenue of USD 2 billion by 2024, owing to its escalating demand across utility and commercial applications. Pertaining to the low emission rates and minimized costs, gas is used as a prominent fuel source in utility and commercial sectors, thereby amplifying the regional demand.
- Asia Pacific smart gas metering systems industry size is anticipated to exhibit considerable growth rate over the period of 2017 to 2024. China is expected to contribute significantly toward the regional growth.
- UK occupied more than 15% of the regional share of Europe smart gas metering market in 2016 and is forecast to record an appreciable growth over the years ahead, primarily driven by the supportive norms implemented by the Department of Energy & Climate Change and the Office of Gas & Electricity Markets.
The noteworthy participants in smart gas metering systems market are Itron, Landis+Gyr, Siemens AG, Circutor SA, Schneider Electric SA, Holley Metering, Osaki Electric Co., Ltd., Icsa Ltd, Honeywell International, Iskraemeco, Badger Meter, Inc., Neptune Technology, Sensus Sentec, and Elster Group SE.
Author Name :Sunil Hebbalkar
Thin film solar cells market to register a phenomenal CAGR of 16% over 2016-2024, rising demand for sustainable energy will drive the industry growth
With a great deal of interest to improve the quality of solar power system due to fossil fuels rigorously getting drained, thin film solar cells market is speedily evolving with every passing year. Strong concerns regarding global environmental issues has brought a dramatic growth in the clean energy market, with solar energy at the pinnacle. Furthermore, the surging demand for electricity specially from off grid areas along with reducing renewable energy tariff subjected to the increase in competitive bidding will heighten the market demand in the coming timeframe. As per a report by Global Market Insights, Inc., “Global thin film solar cells market is expected to increase its revenue fourfold by surpassing USD 30 billion by 2024, having had a worth of USD 8 billion in 2015.”Technological progressions along with a large number of promising energy conservation programs that have been initiated worldwide have resulted in a decline in overall component cost. These adopted initiations will act as a catalyzer for the overall growth of the market. In this regard, India is already a step ahead. In 2016, the country has launched a target of deploying 20 GW grid connected solar power projects in half a decade, which will finally result in cost reduction of solar power generation of the country.
U.S. Thin Film Solar Cell Market size, by component 2013-2024 (MW)
The solar technology is witnessing a continuous evolution with technological progression. Three types of thin film cells that are predominant in the market are cadmium telluride thin film cells, amorphous silicon cells, and copper indium gallium diselenide (CIGD)solar cells. Amorphous silicon thin film solar cells market accounted for more than 13% of the total volume in 2015, and is expected to observe a surge due to increasing demand for solar wristwatches, garden lights, and electronic calculators. Cadmium telluride solar cells are largely adopted for generating terrestrial solar power in residential sector owing to the product’s cost effectiveness and high-level conversion efficiency. This second-generation thin film solar cells industry is estimated to grow stupendously at a CAGR of 17% over the period of 2016-2024. Copper indium gallium diselenide based film solar cells are the top performing cells till date, with an upper hand due to absorption of more sunlight than the other products. CIGD thin film solar cells market is anticipated to generate a revenue of USD 8 billion by 2024.
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Low toxicity, high efficiency, and comparatively affordable manufacturing cost are the leading factors driving thin film solar cells industry to penetrate a wide array of sectors. Thin film solar cells market is gaining a huge popularity across residential, utility and commercial sectors owing to its flexibility and light weight. Thin film solar cells industry from commercial application have collected a huge revenue of USD 1 billion in 2015, and is anticipated to be one of the prominent sectors driving the application landscape in the coming timeframe. Growing consumer claim for uninterrupted power supply is redirecting the focus toward sustainable and reliable energy sources, which in turn is influencing the market outlook. Driven by the handsome number of government solar projects that are continuously being launched, thin film solar cells market share from utility sector is slated to exceed a power capacity of 60 GW over the coming seven years.
Geographies that are anticipated to influence thin film solar cells market over 2016-2024 are listed below:
- US is one of the prominent regions which is actively involved in the market. Positive outlook toward relying more on renewable energy sources along with increasing installation of photo voltaic models is fueling U.S. thin film solar cells industry.
- Asia Pacific is expected to hold a considerable industry share in terms of revenue with China prominently driving the regional demand. China thin film solar cells industry accounted for more than 40% of the regional market in 2015 and will register a massive double digit growth rate of 15% over the forecast span. The growth can be attributed to the huge investment in the PV projects in China.
- UK thin film solar cells market covered more than 25% of the market share in 2015 and will cross 4GW power generation capacity by 2024, owing to the favorable government initiatives pertaining to sustainable energy production.
Market players are concentrating more on research activities to enhance the product quality along with improving the energy efficiency. However, lack of proper knowhow of the ongoing financial incentives related to non-conventional energy sources may act as a deterrent in the growth path of the industry. Prominent participants of thin film solar cells market include Hankey Asia Ltd., Ascent Technologies Inc., Hankey Asia Ltd., Global Solar, Inc., and First Solar.
Author Name :Satarupa De