Sustainable & Smart Technologies
Geospatial imagery analytics market trends will witness increasing traction, owing to rapidly advancing technologies that have allowed companies to adopt spatial tracking and imaging tools including remote sensors and wireless devices. The technology offers different ways in which maps could be produced and used by several public and private enterprises as well as communities. Researchers and GIS professionals using cloud computing to access any resourceful information related to geospatial data will expand the scope of geospatial imagery analytics industry.
APAC Geospatial Imagery Analytics Market Size, By Region, 2018 & 2025 (USD Million)
Governments seem have their own geospatial requirements – government agencies face critical challenges like providing information during emergencies or undertake initiatives towards building a smart community. Procuring geospatial data through different image capturing sources provides them access to detailed information to take decisions, such as those related to agricultural lands, which cover the complete jurisdiction and are updated regularly. These agencies have increasingly been adopting the services of satellite imaging firms, contributing significantly towards geospatial imagery analytics industry share.
There has been a surging demand for geospatial tools based on the cloud, to keep an organization’s infrastructure regularly updated and making it easier to map the records and manage them, at lower costs. In fact, the cloud-based deployment model in geospatial imagery analytics market will witness a decent growth rate of more than 25% between 2019-2025. Companies are now offering cloud GIS services through pay-per-use pricing models to enable more agencies gain access to geospatial data. This will eventually help consumers who do not have skills and resources required to achieve GIS implementations.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2841
The Geospatial Intelligence Center (GIC) in U.S. introduced a new tool in July 2019 for GSI users, called Virtual Inspection Studio (VIS), that enables users to enhance remote property assessment by using ultra-high resolution in aerial imagery. It can give assess to a 360 degree property view and accurate measurement of area and distance calculations. The United States Automobile Association (USAA) has demonstrated their use of VIS in quickly assessing damage and helping to settle claims. Similar use cases will boost the application of imaging solutions and reinforce geospatial imagery analytics industry outlook.
The defense and intelligence community utilizes geospatial imagery that is heavily dependent on image processing software, providing the benefits of multispectral imaging features. Hawkeye, a commercial satellite constellation operator, recently launched RFGeo that uses satellite generated data to introduce new geospatial analysis of data which the satellite delivers, in a standard format for a common tracking software. The company has also reached military market and has demonstrated the remarkable potential for geospatial imagery analytics industry in partnership with the intelligence community.
The construction, marine, defense and agriculture sectors use several aerial imaging platforms like surveillance cameras and drones in order to gather land related information that GIS professionals can use to solidify their decision making process. Government initiatives in Asia Pacific countries to develop the space industry will help enhance navigations systems to capture geospatial images which can be used to support numerous industrial applications. Reportedly, Asia Pacific geospatial imagery analytics market is anticipated to witness a more than 25% CAGR over the forecast timespan.
The Union Mine Ministry in India is exploring the use of drones that could work for mine related functions like surveillance, operation of mines, reclamation of land after mining and managing waste dumps. Large public sector units have been involved in the exploitation of these drones like National Mineral Development Corporation, Hindustan Copper Limited as well government organizations like Geological Survey of India and Indian Bureau of Mines. Substantial research and investment activities promoted by public enterprises will help drive APAC geospatial imagery analytics industry size.
Several companies are involved in the development and advancement of geospatial products that are experiencing high demand, with the fast-paced advancement of smart technologies, including Bentley Systems, AeroVironment Inc., Harris Corporation, PrecisionHawk, Inc. and Satellite Imaging Corporation. Strategic partnerships with other companies, governments and intelligence agencies will help bolster geospatial imagery analytics market size, which is estimated to surpass annual revenues of USD 8 billion by 2025.
Author Name : Riya Yadav
Solar energy storage market to derive commendable proceeds via increasing usage of lithium ion batteries through 2025
The global solar energy storage market size is expanding at an unprecedented pace owing to the increased adoption of renewable energy sources by various sectors of the economy to replace the traditional forms of energy usage. Additionally, numerous initiatives of businesses and government agencies to explore sustainable and efficient power sources and their storage has contributed to the enhancement of solar energy storage market share.
Global Solar Energy Storage Market Size, 2018 – 2025 (USD Million)
The demand for electric batteries to reduce the fuel cost has also witnessed a considerable growth mainly due to the proliferation of electric vehicles, which has driven companies to integrate storage units that are performance oriented. Consequentially, the usage of lithium ion battery storage systems across various business verticals is increasing. Apparently, these batteries are gradually replacing their substitutes for solar storage in grid connection.
The Li-ion batteries require low maintenance and do not require scheduled recycling. Their self-discharge technique is less as compared to other batteries making them well suited for modern fuel gauge applications. Several automotive companies are preferring Li-ion batteries, for instance, Toyota has deployed solar rooftops at its facilities and aims to explore synergies with lithium ion batteries. These module-based batteries will be provided with stationary storage for solar energy which may reduce the cost of energy storage. The need to store solar energy for further use by way of charging the electric vehicles will propel solar energy storage market outlook over the forecast years.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3507
In recent times, the implementation of roof top solar systems across residential and commercial spaces has fueled the product demand. For instance, India’s Ministry of New and Renewable Energy, under its National Solar Mission – aims to achieve 40-GW worth of power through solar rooftops by the year 2022. Owing to numerous advantages of rooftop solar panels such as cost savings, reduced carbon footprints, and relatively lower maintenance cost, several builders of residential or commercial establishments are installing solar rooftops. The need to store solar energy across these establishments is contributing to the overall solar energy storage industry share.
Speaking in terms of regional growth, Asia Pacific solar energy storage market share has witnessed a commendable expansion over the last few years owing to several government policies directed toward increasing the use of renewable sources of energy in these countries. Additionally, due to the increase in industrial sector, the builders/establishment owners are resorting to renewable sources for electricity due to its cost effectiveness and easy maintenance.
According to a study by India Brand Equity Foundation, the installed renewable power generation capacity in India recorded a CAGR of 19.78% between the year 2014 and 2018. Similarly, in order to boost the adoption of solar energy, the government is levying tax credits to people who install solar panels for commercial or residential purposes. In fact, according to the Ministry of New and Renewable Energy, the government pays 30% of the installation cost as a subsidy.
Apart from India, China has emerged as a leading producer, installer, and exporter of renewable energies like solar and wind power along with related technologies like electric vehicles and batteries. As of 2016, China has over 15,000 renewable energy patents and has a clear lead in terms of underlying technology. According to the National Energy Administration (NEA), in the first quarter of 2019, China added 5.2 GW of solar power capacity driven by new project launches in northern and eastern part of the country.
Large scale solar projects are being constructed across China and the country is venturing into the production of electric vehicles rapidly, with the government spending over USD 60 billion in the last decade to steer the electric cars industry by restricting the licenses for gas powered vehicles. Thus, the growing production of solar energy to fulfil the demand of solar infused products across China is propelling the APAC solar energy storage market size.
Owing to an increase in realization among the nations regarding climate change and its impact, there has been a considerable shift towards the adaption of renewable energy sources. Hence, with the rise in usage of natural source of energy like solar power there arises a need for storage in order to facilitate continuous usage.
Similarly, the adaption of solar power ranging from the production of electricity to its usage in electric cars has further steered solar energy storage industry trends. Several investments from major companies like Samsung, LG Chem, BMW, Maxwell Technologies, Primus Power and others have eased the availability of efficient storage solutions and created future opportunities in the sector. According to a report by Global Market Insights Inc., solar energy storage market is estimated to exceed an annual installation of 3 GW by 2025.
Author Name : Shreshtha Dhatrak
Global space robotics market is estimated to procure commendable returns in the ensuing years, primarily owing to the increasing investments and efforts dedicated toward space research and exploration in countries such as the United States, India, and Russia. Space robotics is significant in the development of machines that are capable of expanding the human capacities in space by facilitating abilities beyond human limitations in extreme space environments.
China space robotics market, by application, 2019 & 2025 (USD Million)
Space explorations have always attracted the interests of several private companies. Case in point, Boeing has built the Saturn V rocket, the 363-foot booster rocket capable of lifting the entire apparatus to the edge of space. In the last few years, the space exploration arena has witnessed the emergence of multiple competitors such as Blue Origin, SpaceX, Virgin Galactic, and more. The introduction of new technologies by key players, would positively influence space robotics industry trends over the forecast period.
A perfect example is the partnership between Tokyo’s ispace and Elon Musk’s SpaceX to send a series of robots to the moon. The Lunar Lander will orbit the moon in this mission that’s scheduled in mid-2020. A rise in the integration of robotics technology for future space missions will substantially drive space robotics market outlook in the future.
Although government funding to organizations like NASA is facing a slump, the space industry is slowly moving to the private sector, with Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin signing more contracts. SpaceX is reportedly gearing up to launch its eighteenth contracted CRS mission to the International Space Station through its Cargo Dragon spacecraft. The mission will also use the Space Station’s robotic arm Canadarm 2 to extract IDA-3 from the Dragon’s trunk. Increasing collaborations between established space stations and emerging private firms will present space robotics companies with major growth prospects in the ensuing years.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3219
Increasing investments in space programs will also have significance in driving demand for space robots in the coming years. Recently, SpaceX was awarded a $50.3 million contract by NASA to launch its X-Ray Polarimetry Explorer mission. Major funding toward potential space missions will provide a huge scope for space robotics engineering, thereby augmenting space robotics industry share in the future.
A farfetched but plausible idea that has begun surfacing the international space industry is the possibility of space travel for recreational purposes. With numerous firms embarking on a quest to launch spaceflights for civilians, space travel is starting to seem less like a dream. Possibilities of recreational space travel could present a major opportunity for space robotics companies, thus augmenting the space robotics market share in the future.
In terms of segmental growth, the robotic arms segment is slated to witness immense demand over the coming years. Robotic arms have proved to be one of the most reliable machines in space missions. Recently, NASA’s Jet Propulsion Laboratory finished installing a 2.1-meter-long robot arm on the Mars 2020 rover. The new arm has been designed to perform much more complex activities. Increasing penetration of robotic arms for advanced space mission will result in segmental growth for the global space robotics industry.
The North America space robotics market is currently a highly profitable growth ground owing to the presence of substantially funded organizations like NASA and the Canadian Space Agency. The region is also witnessing several ongoing and upcoming space missions that are anticipated to generate considerable demand for space robots, further strengthening the region’s space robotics industry size.
The Asia Pacific market is also likely to emerge as a strong contender due to increasing implementation of major space projects. For example, the Indian Space Research Organization’s second moon mission Chandrayaan 2 is the nation’s first attempt at robotic space explorations. Increasing adoption of space robotics engineering for upcoming space programs and explorations would primarily contribute to expanding Asia Pacific space robotics market size.
The numerous benefits depicted by these technologies will accelerate the adoption of space robots in the coming years. Products like space probes are capable of exploring areas that are beyond human accessibility. Moreover, space robots can also withstand extreme temperatures and perform programmed tasks for longer durations. These advantages will play a major role in further accelerating the adoption of space robotics.
According to a research report by Global Market Insights, Inc., space robotics market is estimated to surpass $3.5 billion by 2025.
Author Name : Krithika Krishnan
Rising demand for real-time rendering has created an expansive growth scope for 3D rendering market which has witnessed increasing investment in recent times. As technology advances and companies become increasingly digitalized, the complexity of the business process will also increase. To address these challenges, organizations are looking for more efficient, faster, and real-time rendering solutions, adding impetus to 3D rendering market trends.
Canada 3D Rendering Market Revenue, By Component, 2018 & 2025
3D rendering is the process of fabricating an image based on 3D data stored within a computer. As the construction and real estate industries are witnessing exponential growth, real-time visualization and use of 3D rendering software have become integral part of the designing process, offering huge efficiencies to architects and engineers.
Architects, engineers and designers use architectural rendering software to transform their ideas into real-time design by exploring multiple options. In architecture, three dimensional images offer architects to review interiors and construction decisions before starting the project. This results in dramatically lowering costs, as expensive changes do not have to be made during the construction stage. Customers also get to view what the building may look like, including its interiors, before investing in it.
The healthcare sector is increasingly adopting advanced technologies, such as 3D medical animation and virtual reality, to create patient-specific surgical replication and personalized 3D printed medical devices. 3D medical modeling helps to understand the functions of body parts, the support of veins to muscles, internal organs and their functions, and its consistent adoption is also likely to fuel 3D rendering industry outlook.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3953
3D biomedical image rendering provides a clear view of the complex process of the human body. By gathering data via 3D imaging from patients and integrating it with virtual rendering technologies, doctors are enabled to pre-plan the best approach for surgical intervention. 3D modeling platforms will allow medical scientists to generate high-quality models from complex data sets and integrate scan data with CAD product designs for research purposes and teaching. Deploying 3D rendering services in healthcare will positively impact the 3D rendering market share. As per Global Market Insights, 3D rendering market size from healthcare will grow at a CAGR of 25% over 2019-2025.
The gaming industry is expanding rapidly due to high internet connectivity and growing popularity of virtual reality games to bring immersive experiences to users. A trend has been witnessed where major gaming companies are investing both time and capital to provide their customers with the most absorbing gaming experience. Mounting developments in interactive graphics software, especially in the gaming industry will augment 3D rendering market share.
3D rendering industry is also gaining significant momentum from the growth of automotive industry and rapid growth of emerging economies of Asia Pacific region. In Asia Pacific automotive industry, 3D product modeling has gained momentum, as it helps to minimize the time associated with end-product development and allows designers to visualize the product and test it thoroughly before it is built. The mounting growth of the automotive industry has resulted in the adoption of 3D visualization and rendering services to save both time and cost associated with the manufacturing of a vehicle parts.
Asia Pacific 3D rendering market is estimated to grow at a CAGR of over 24% over 2019-2025. Rapidly expanding urbanization and industrialization will play crucial roles in the growth of 3D rendering industry.
Product marketing has been revolutionized by the advent of 3D rendering services. Marketers of hardware products have always been placed in a challenging position when it came to communicating functions, value and differentiators of their product. The challenge has been almost insurmountable for startups due to their tight marketing budgets. However, 3D rendering of products has helped in greater engagement of consumers on limited marketing expenditure. 3D rendering industry is expected to record 23% CAGR over 2019-2025 from product design & modeling segment.
As 3D visualization is becoming a crucial part in various industries including architecture, IT, healthcare, gaming, etc., 3D rendering market is projected to witness exponential growth over the forecast timeline.
Author Name : Aakriti Kakkar
Profound application in the commercial and healthcare sectors will drive human centric lighting market size. Human centric lightings (HCL) are designed to offer illumination solutions that physiologically and psychologically benefit human-beings. They are intended to promote improved concentration, efficiency and enhanced safety at offices and other work environments. HCL also supports healing processes and prevention of chronic diseases among people with irregular work routines.
Germany human centric lighting market, by application, 2018 & 2025 (USD Million)
Increasing advancements in lighting technologies along with rapid adoption of Internet of Things (IoT) will support human centric lighting market growth globally. Using IoT, lighting systems can effectively be controlled and customized in real-time. IoT sensors can detect changes in environmental parameters, further directing and improving HCL capabilities.
With emergence of smart LED bulbs that offer a wide spectrum of colors and intensities along with advanced controller hardware, human centric lighting market will witness new growth opportunities over the coming years.
Human centric lighting market is anticipated to garner significant proceeds in the commercial sector. Renovation of enterprise infrastructure and installation of smart building and lighting products to develop comfortable workspaces will foster business growth. HCL solutions allow improved productivity and boost concentration in commercial work areas. In fact, research results suggest that the systems can increase work performance, reduce fatigue and significantly increase concentration and work satisfaction.
According to Lighting Society Europe, human centric lighting can significantly enhance employee performance to the point of improving productivity by 4.5%, reducing errors by 2% and further slashing rate of work absenteeism. HCL can also significantly improve visibility, thereby reducing the risk of tripping, falling and potential injuries. With employees spending more time in offices and other workplaces, HCL systems will become an essential lighting solution in the commercial sector, fostering HCL industry size.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/3637
Increasing traction in the healthcare sector will augment human centric lighting market share. In hospitals and old age homes, HCL is well suited to implement lighting cycles comprising sunrise, sunset and daylight simulations. The system offers patients with enhanced benefits like higher activity levels during day, better sleep during night, reduced recovery time and lowered intake of anti-depressants.
In fact artificial lighting can compensate for biologically active effects of insufficient daylight exposure, thereby stabilizing the sleep-wake rhythm. It can also lead to more restorative sleep, thus ultimately improving the mental and physical wellbeing of hospitalized patients.
In old-age homes, HCL systems can offer high color temperatures, higher illuminance, and dynamically adjusted light distribution levels, further improving the quality of life of the elderly people. Additionally, in the healthcare sector, the systems can significantly reduce surplus cost of electricity bills.
For instance, according to a A.T. Kearney study, the annual efficiency gains achieved from human centric lighting in a hospital with 1,000 beds and 1,500 employees amounted to over €300,000. Instances such as these implicate growth opportunities in the healthcare sector, furthering human centric lighting industry outlook.
Europe human centric lighting market is expected to witness increased traction in commercial, residential and healthcare sectors. Infrastructure refurbishment in Europe currently focus on developing well-illuminated building environments.
The region naturally observes less exposure to sunlight which eventually creates an impact on human health, thereby creating the need for human centric lighting market solutions. With presence of leading market players along with rising investments, Europe human centric lighting market will witness rapid technological growth in the upcoming years.
Global human centric lighting market is being propelled on account of increasing application in healthcare and commercial sector. The industry is witnessing rising investments in R&D from leading players, government organizations, and lighting associations. Increasing consumer awareness and focus on the implementing energy-efficient work environments are anticipated to expand human centric lighting industry size in the future.
Author Name : Mateen Dalal
With the evolution of computer and mobile gaming due to technological advancements, global cloud gaming market is poised to experience an unprecedented level of growth over the forecast time period. Estimates show that on an average, individuals play video games for nearly six hours on a weekly basis. Moreover, they seemingly spend approximately two hours each week watching others play video games on online streaming platforms such as YouTube and Twitch.
Europe Cloud Gaming Market Revenue, By Device, 2018 & 2025 (USD Million)
The concept of cloud gaming is anticipated to pick up significant momentum over the coming years as its entire model could revolutionize the PC gaming sector. Under this model, an individual could lease out a game and a virtual machine that is hosted on a dedicated server for a few hours. Video games are rapidly becoming an integral part of human lives with some of them potentially becoming a cultural phenomenon.
As of 2018, there were approximately 2.2 billion gamers across the world, which amounts to almost a third of the world’s population. Today the only factors limiting the gaming industry in drawing more consumers are the escalating PC and console game prices, massive storage and memory demands and the high-specification computers or consoles they require to run smoothly. Addressing these issues, cloud gaming market will amass tremendous revenues in the imminent future from millions of gaming enthusiasts.
The slowly emerging subscription based model for accessing games on the cloud could prove to be affordable enough to attract more gamers who can rent games and machines more frequently. The cloud gaming industry size is anticipated to expand with the rise of Virtual Reality (VR) and Augmented Reality (AR) technology based gaming. AR and VR games are a high performance demanding niche, as they are extremely latency sensitive.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2368
Getting a smooth AR/VR gaming experience entails expensive hardware components and a high-bandwidth connectivity network. This not only hinders revenue growth by creating an entry barrier but also severely restricts portability and device form factors. Cloud gaming market would help eliminate these restrictions as gamers can rent machines with a high-power GPU and also leverage the high-bandwidth network it facilitates to reduce latency and run graphically taxing games at significantly higher frame rates.
From a regional perspective, North America is expected to hold a significant chunk of the cloud gaming industry over the forecast timeframe. In 2017, it was reported that the amount of time an average American spends gaming has increased by 50% since the year 2003. The presence of prominent technology firms such as Google, Microsoft, Electronic Arts and gaming companies such as Rockstar Games as well as Epic Games across the country provides a strong foundation that would bring in substantial remunerations for cloud gaming market.
Recently, Google had announced the launch of its own cloud-based video game service platform called Google Stadia. The Stadia Founders Edition package would be available for $129.99 and will include a controller, a three-month subscription and a Chromecast Ultra streaming device. Google’s announcement was immediately followed by Microsoft making unveiling its own Project xCloud, the company’s venture in the domain of cloud gaming.
Prominent steps taken by leading game developers and cloud computing players towards offering efficient gaming solutions to players will greatly outline how games are accessed and played in the future. As more gamers show interest in subscribing to products released by tech giants like Microsoft and Google, other companies can be expected to unleash a host of cloud-based products, escalating the competitive landscape of cloud gaming industry.
Prompted by tremendous potential of cloud gaming platforms to overcome hindrances that prevent new players from accessing high-performance games, there will be consolidated efforts from several technology companies to tap into a promising revenue stream. Undoubtedly, cloud gaming will soon become a common product across the gaming and entertainment industry. Global Market Insights, Inc., reports that cloud gaming market will generate annual revenues of over $8 billion by 2025.
Author Name : Akshay Kedari
Rising digitalization and use of e-payment platforms are driving cloud POS market growth. Cloud-based POS is an adaptable, easy to implement and cost-effective solution compared to traditional POS systems. It is integrated with features like inventory management, customer relationship management, loyalty programs and more. For small-to-medium sized businesses (SMBs), a cloud POS system can ensure enhanced customer experience whilst coping up with rapidly upgrading technology.
U.S. SMEs cloud POS market, by application, 2018 & 2025 (USD Million)
With cloud POS, SMBs can quickly, safely and securely access information using their mobile device. Using tools like data monitoring, inventory tracking, transaction history and more, cloud-based systems can offer enhanced profitability and become an invaluable resource for SMBs.
Notably, cloud POS can be integrated into existing system, increasing security and visibility of restaurant or retail store information. Additionally, it can easily be upgraded, and can track application growth and essential business needs. Product lines, features or stores can also be added to its software. Aided by such profound features, product demand has increased significantly over recent years, expanding cloud POS market size.
Cloud POS market is gaining massive proceeds from the restaurant and hospitality sector. A restaurant cloud POS system is an integral part of daily operations as it helps conduct tasks like billing, ticketing, tax management, invoicing and more. The system aims on delivering superior customer experience and cost control while further growing store revenues and overall profitability.
It enables restaurants to manage orders, make payment, and conduct promotions, and even supports the latest cashless and e-payment platforms that consumers use. The robust use of the system is rather overt from the extensive growth of restaurant POS terminals market as well. Indeed, with growing technological advancements, cloud POS has become a complete restaurant management system providing features like stock and inventory management, detailed reporting and analytics customer relationship management, marketing and more.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3418
Growing demand and use of e-payment transactions will augment the cloud POS industry share in the restaurant sector. Furthermore, according to a recent study, the number of credit card payments have reportedly grown by 10.2% in the year 2016 to 37.3 billion with a total value of $3.27 trillion, while digital wallets such as Apple Pay and Android Pay are expected represent $503 billion in transactions by 2020. These instances aptly prove that cloud POS market is here to stay.
APAC cloud POS market is growing robustly on account of rapid digitalization and increased use of cashless payments. India’s foodservice sector in particular, continues to grow rapidly on account of rising number of restaurant dining and foreign tourists. Increasing consumer income has made restaurant dining more accessible. International hotel brands have also been expanding their presence in the continent, that has further fostered the regional cloud POS industry size.
With cloud POS, restaurant outlets can acknowledge orders directly to these aggregators. Moreover, with growing technological advancements, the APAC cloud POS is poised to register increased demand in the forthcoming years. Indeed, it has been speculated that the Asia Pacific region will observe a commendably high adoption of restaurant POS solutions, on account of the increase in the usage of POS systems for food delivery. As per estimates, APAC cloud POS market size will register a CAGR of 27% over 2019-2025.
Cloud POS systems are web-hosted solutions that store information on remote servers which can be accessed online. The system is increasingly used in restaurants and retail stores for recording data, taking orders, making bills, managing inventory and more. Reports from Global Market Insights, Inc. estimate cloud POS market to surpass USD 6 billion by 2025.
Author Name : Mateen Dalal
Rapid industrialization and technology developments transforming the global manufacturing sector have enabled smart factory market to emerge as a highly lucrative investment avenue over the forthcoming years. Several advancements in the field of automation, communications and computing power have turned intelligent manufacturing facilities into a feasible reality. Today, several manufacturers are looking to bring more efficiencies in production process while gaining the ability to supply a wider range of products to consumers, driving the expansion of smart factory industry.
U.S. smart factory market, by application, 2018 & 2025 (USD Million)
Manufacturers require their production lines and operational processes to be integrated as well as flexible to adapt and enable quick configuration changes to lessen lead times. This helps them to retain a competitive edge in a constantly evolving segment. Smart factories have the ability to address these needs without compromising on quality and safety, positioning the industry in a favorable spot to experience business growth. Not only is building smarter facilities by investing in Internet of Things (IoT) is a massive undertaking, it is also a key component in promoting efficient scalability in the era of Industry 4.0.
Factories that leverage smart manufacturing technology offer a number of benefits to manufacturers including increased productivity, enhanced efficiency and long-term cost savings. Growing awareness of modern manufacturing technologies owing to these advantages will reinforce global smart factory market share. Although high initial investment in smart factories are keeping small to medium sized enterprises at bay, expected rise in affordability of the technologies in the next few years would open up the landscape for these businesses, fueling the adoption of solutions offered by smart factory industry players.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/1436
The automotive industry is expected to emerge as a prominent growth avenue for the smart factory market over the forecast timeframe. In 2016, multinational automobile company Audi unveiled its Smart Factory 2035 vision in which it envisioned a facility without any assembly lines, instead deploying intelligent, flexible and modern production stations.
Last year, the company had already implemented the proposed vision to manufacture electric motors, wherein vehicle assembly takes place at a production station with automobile components being transported between stations by driverless systems that are controlled by smart IT control systems.
Through this production method, Audi estimates that the factory can produce approximately 400 electric drives with just 100 employees. Audi’s initiative offers a proof of the benefits in establishing a smart factory. Several key industry players are expected to follow suit and make investments in their own visions regarding advanced manufacturing plants, significantly boosting smart factory market outlook.
The global food & beverage segment will certainly emerge as a major revenue contributor for smart factory industry due to consistent demand for packaged and frozen food products. A large global population base, that is estimated to hit 9 billion by 2050, tightening regulatory demands around food safety & quality and environmental concerns, as the food & beverage sector consumes 5% of the world’s energy, are putting immense pressure on profit margins of producers.
Food and beverage product manufacturers are increasingly looking towards new ways to build flexibility into the inventory management and production process. Adoption of data integration, automation, analytics, energy sourcing and simulation could help companies in transforming their existing factories into intelligent manufacturing facilities to better handle these challenges without severely impacting company margins.
In terms of the regional spectrum, Europe is expected to retain its position as a lucrative market player over the projected period. In fact, Europe accounted for over $25 billion of the global smart factory market share in 2018. The region is home to a number of global automotive firms and according to the European Automobile Manufacturers Association, Europe automobile sector brings in over €90.3 billion in the form of trade surplus. Moreover, the industry is the biggest private investor for R&D in Europe, investing approximately €54 billion annually.
With growing adoption of automation technologies in the food & beverage and automotive sectors, smart factories will undoubtedly become a common trend among large and medium enterprises in the imminent future. Global Market Insights, Inc., has estimated that global smart factory market share will exceed $155 billion in annual remunerations by 2025.
Author Name : Akshay Kedari
Owing to the rising deployment of LPWA technologies, including LTE-M, NB-IoT, and LoRa, low power wide area network (LPWAN) market share is witnessing an increased traction in the recent years. Interestingly, LPWAN networks have emerged as popular choice among enterprises to support various IoT use cases and solutions for business sectors such as agriculture, manufacturing, logistics, and healthcare, among others. Enumerated below are three major factors that are shaping the growth prospects of LPWAN market.
Europe Low Power Wide Area Network (LPWAN) Market Share, By Platform, 2018
Increasing investment by telecom operators in laying NB-IoT and LoRaWAN networks across various cities is benefiting the overall LPWAN industry size
- In 2018, the British telecom operator Vodafone announced NB-IoT network expansions in Spain and Germany, with ambitious plans to double the size of its NB-IoT footprint in Europe by the end of this year.
The NB-IoT network of Vodafone was deployed across Madrid and Valencia in 2017 in a number of verticals such as retail, electricity, agriculture, waste management, and smart city services. This technology has now been expanded to all localities in the cities of Seville, Malaga, Bilbao, and Barcelona, covering a population of about 25,000.
- In 2016, South Korea’s national telecommunications operator SK Telecom joined hands with semiconductors manufacturer Semtech Corporation to roll out LPWAN network across the nation. Additionally, the operator had also declared that it plans to provide 100,000 LoRa devices free of cost to its customers as part of its ‘Partner Hub Program’.
This program has apparently played a vital role in scaling the development and deployment of LoRa devices (based on IoT solutions) and has been of immense significance for expanding the South Korea LPWAN industry size.
- Digital Catapult, the UK’s foremost agency for adoption of digital technologies, announced in 2016 that it is working closely with British telecom firm BT and a few educational institutes to boost the IoT network in London. To that effect, the company launched Digital Catapult Things Connected which will provide about 50 LoRaWAN base stations situated across London – an effort to establish the UK’s largest IoT LoRaWAN network.
Needless to mention, this network and support program will provide an opportunity to digital start-ups and small and medium-scale enterprises to use IoT and drive innovation across London.
Apart from massive expansion programs and large-scale investment, the use of licensed spectrum enables the telecom operators to provide customers with the same levels of security as its LTE network. This makes it immune to disruptive and alternative technologies, essentially opening up numerous business opportunities for LPWAN market players.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/674
The rise in industrial IoT connections is favoring the growth prospects of LPWAN industry
Besides the rising volume of investment by telecom operators, the increasing prominence of industrial IoT market in various business verticals – especially the manufacturing sector – has invariably led to an escalation in the demand for LPWA technologies. This momentum is expected to remain consistent in the upcoming years as the industrial IoT connections are slated to increase by about five times by 2025.
In fact, the German wing of PwC released its findings last year of what the firm expects of the impact to be created by industrial IoT in the German manufacturing sector. Apparently, these findings note that about 90 percent of the respondents are investing in digital factories and a lot of these companies expect a 12 percent efficiency gains over the next five years owing to industrial IoT. Unsurprisingly, these statistics present an optimistic picture of the adoption of industrial IoT solutions, which will consequentially assist the regional LPWAN industry in reaching out to a new base of customers in the times to come.
The advent of 5G technology and its impact on LPWAN market share
One of the major factors fueling the commercialization prospects of LPWAN industry is the steady increase in the volume of investment pertaining to 5G technology. In this context, it is important to take note of the fact that the mobile IoT technologies, such as LTE-M and NB-IoT, offer a cost-effective wide area coverage while ensuring the success of 5G network deployment.
The 5G technology would enable major telecom firms across the globe to provide high connectivity to support numerous IoT use cases. Taking this factor into account, various telecom firms including Orange, Vodafone, and Airtel are deploying licensed cellular LPWAN as a prominent component of their 5G development strategies.
In a nutshell, the increasing volume of investment by telecom firms in expanding the NB-IoT and LoRaWAN networks, the advent of 5G technology and its development, and the rise in industrial IoT connections has been fueling LPWAN market share. As per a research report by Global Market Insights, Inc., LPWAN industry size is slated to exceed USD 65 billion by 2025.
Author Name : Saif Ali Bepari