Growing adoption of mobile banking services driven by rapid digitization trends has fueled digital lending platform market size over the past few years. Consumer inclination towards using digital lenders for automotive loans is growing steadily owing to minimal documentation required, transparent and quick loan processing, as well as lower interest rates compared to conventional lending. Increasing implementation of software solutions among financial institutions to reduce operating costs and deliver services via digital channels is anticipated to bolster product demand worldwide.
South Korea Digital Lending Platform Market Revenue, By Business Model, 2018 & 2025 (USD Million)
A digital lending platform will essentially reduce operational, business as well as regulatory risks in digital lending organizations with a responsive and configurable approach. Use of digital platforms will cater to the mounting demand among financial organizations for enhanced customer experience while interacting with lenders and borrowers, providing speed and transparency. These platforms also improve loan collection and repayment methods for institutions with efficient real-time loan approval, processing and disbursal, which will augment digital lending platform industry share over the forecast period.
Studies have estimated that 53% of adults worldwide will be using smartphones, PCs, tablets or smartwatches to avail financial services by 2021. Cloud-based digital lending platforms are already being used by banks and NBFCs to reach customers across the globe, informing them about the status of their loan payments as well as basic account information.
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A large number of banks are leveraging the opportunity to offer digital lending services for expanding their customer base, impacting product demand. Moreover, expansion of IoT coupled with the cloud computing revolution in digital banking will help meet customer expectations by redefining loan processes, strengthening digital lending platform market outlook.
Technology has been the driving force in business transformation over the years, but the speed at which advanced technologies are being launched has reached an unprecedented level. Increasing digitalization worldwide along with growing adoption of digital platforms for conducting business is anticipated to stimulate digital lending platform industry prospects.
Digital transformation is not solely based on development of new technology, but also an organization’s ability to accept transformation at the intersection of business and people. Reportedly, 55% of startups had already switched to digital business strategies in 2018 as opposed to 38% of conventional organizations. This suggests that startups will be accountable for increasing revenue via digital platforms, expanding the scope of digital lending platform market.
Built Technologies, which focuses on taking construction lending into the digital age, had raised close to $21 million in a Series A round in 2017. The company was aimed at using digital transformation to enable lenders to use data for making more informed decisions on their loans while simultaneously providing borrowers a conveniently digital user experience with quicker access to money and propelling projects forward. Rising adoption of digital technology for lending among financial companies for loan repayments is expected to complement digital lending platform industry trends over the forecast timeframe.
Increased utilization of internet services coupled with changing end-user requirements are encouraging financial organizations to shift to digital business models for managing consumer needs on their choice of channel. Advent of advanced technologies such as biometric-based authentication, e-signatures, e-mandates, ML, AI, advanced analytics and blockchain for mitigating fraud and NPAs risk is estimated to bolster digital lending platform market expansion.
Declining costs of internet connectivity and fast-paced advancement in smartphone technology will support the rising digitalization across financial institutions, proving to be crucial factors in pushing the market growth.
Leading market players are relying on strategic alliances through mergers and acquisitions to enhance product offerings and expand their regional presence. Key players comprising digital lending platform space are Built Technologies, Finastra, Finantix, Nucleus Software, Arena Limited and Newgen Software Technologies Limited, among several others. Global digital lending platform market size is projected to surpass USD 17 billion in annual revenues by 2025.
Author Name : Hrishikesh Kadam
The global micro data center market will witness immense growth in the years to come due to rapid technological advancements in the IT & telecom sector which has led to expansion in data center infrastructures worldwide. As online banking & shopping, satellite navigation systems, smartphones, TV & movie streaming gain traction, relocation of IT infrastructure becomes mandatory. This increases the demand for modular data center architecture that will drive the global micro data center market size.
U.S. micro data center market, by application, 2018 & 2025 (USD Million)
The rising need for containerized data centers for corporate offices that consistently relocate their infrastructure will fuel micro data center industry share. With rising workloads, companies are focusing more on data center expansion. However, enterprises are now wanting to make their presence felt on the cloud, leading to the requirement of portable data centers. Micro data centers have a smaller footprint that conventional data centers and look like with integrated systems. The rising requirement for portable solutions in large-scale enterprises for delivering additional IT support will drive micro data center market size.
The healthcare sector will be a major application segment of micro data center industry. Medical care centers demand efficient power systems for consistent access to patient electronic health records. The rise in the number of chronic diseases and patient admissions can sometimes though, put pressure on hospitals, emergency clinics and rehabilitation centers since conventional data center infrastructure requires a huge investment. But miniaturized, portable data centers eliminate a lot of the up-front investment and are being preferred by medical care facilities, that will drive micro data center market size from hospitals.
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North America micro data center market will grow significantly over 2019-2025 driven by robust urbanization and digitization trends. The presence of major multinational companies planning on expanding their operational capacities in the U.S. will drive the North America industry. Most huge enterprises in the U.S. require efficient IT infrastructure for business management. The rising need of huge companies and SMBs for portable solutions will fuel the regional micro data center industry share.
Global Market Insights, Inc., estimates the North America micro data centers market size to register a CAGR of more than 23% over 2019-2025. The growth is driven by the launch of various micro facilities by important technology giants such as Schneider and IBM Corporation. The expansion of data center infrastructure market in the region will also propel North America micro data center industry share.
Prominent industry giants are consistently making investments in portable data center solutions to cater to rising demand from hospitals, IT companies, telecom firms, banking establishments, etc. For example, in March 2019, Schneider Electric had declared the launch of new solutions for micro data centers which combine APC by Schneider’s physical infrastructure with Cisco’s HyperFlex Edge that delivers efficient, fast deployment in edge environments.
Cisco and Schneider Electric’s latest partnership on micro data centers will provide system integrators and IT global channel partners the access to new reference designs for deploying the HyperFlex Edge that can be suitably customized for particular micro data center needs. The rising demand for pre-integrated, physically secure, and remotely monitorable containerized data center solutions and increasing efforts by industry players to provide these services will drive the global micro data center market size.
Some of the other players defining the competitive landscape of micro data center include Advanced Facilities, Inc., Zellabox, Schneider Electric SE, Attom Technology, Eaton Corporation PLC, Panduit Corporation, Delta Power Solutions, Canovate Group, Dataracks, Hewlett-Packard Enterprise Company, STULZ GmbH, Huawei Technologies Co., Ltd., IBM Corporation, Dell Inc., and Vertiv Co.
Companies partaking in micro data center industry share are trying to enhance their presence by coming up with new, more efficient portable data center solutions. Delta Power Solutions has a product portfolio of the Delta InfraSuite – a highly integrated, next-gen modular datacenter solution that uses racks and integrates cooling, lightning protection, wiring, fire control, UPSs, and airflow management together.
Global Market Insights, Inc., claims the overall micro data center market size to cross USD 14.5 billion by 2025.
Author Name : Saipriya Iyer
Operator training simulator market to gain substantial proceeds from aerospace & defense sector over 2019-2025, surging product demand for tackling life-threatening situations to fuel the industry growth
The revenue graph of operator training simulator market is projected to foresee exponential growth owing to the continuous improvement in these products and rising emphasis on recruiting skilled workforce. Skill development helps to enhance productivity, safety, profitability, controllability, and stability of the enterprise operations. The increasing focus to reduce injuries and fatalities to maintain safe operations across various business verticals is expected to aid the market growth.
Brazil operator training simulator market, by application, 2018 & 2025 (USD Million)
Industry professionals are training their operators to tackle life-threatening situations which has led to increased emphasis on safety of workers, optimization and efficiency of simulators – a factor that is likely to impel the operator training simulator market share in the times to come.
Operator training simulators improve decision making of the operators at critical times while increasing familiarity with the operations. Pilots are required to develop skills like decisiveness, quick thinking, confidence and situational awareness which can be enhanced by simulator trainings. Operator training simulators strengthen confidence to tackle the unfavorable situations. To underscore the significance of simulators, the recent instance of fatal aircraft crash of Ethiopian Airlines can be considered. The crash killed all 157 on board just five months after a similar crash on a Lion Air flight which killed all 189 passengers and crew.
After the accident, the Allied Pilot Association has demanded training on simulators which includes scenarios like those experienced by the pilots of Ethiopian Airlines and Lion Air and additional computer training for 737 MAX to cement the lessons of failure modes in the minds of pilots. Apparently, the deployment of advanced simulators would be crucial in building confidence among pilots, essentially boosting the growth of operator training simulator market.
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Apart from aviation industry, the railway sector has also emerged as a major end-user to deploy operator training simulator for realistic and robust training to avoid fatalities. For instance, in the year 2018, Indian railways had announced to invest INR 350 crore in operator training simulators to train 1.5 lakh loco pilots and assistant loco pilots to bridge the gap between theoretical and practical learning. The investment is meant to make drivers learn how to navigate rail tracks, curves, signals, bridges and any other situation as if they are driving a real train.
Over 12,000 diesel and electric locomotives daily run on a 66,000-km network across the country. There are about 86,000 train drivers and the simulator training with real feel experiences will assist these drivers to run locomotives efficiently. Apparently, the Indian government’s program is a testimony to the increasing prominence of governmental support to high-end simulator training across various geographies – a vital factor that will enhance the growth prospects of the operator training simulator industry.
Notably, defense academies have also been proactive in adopting operator training simulators for public safety and enhancing the overall skill-set of cops. As the police department is responsible for the safety of citizens and maintenance of peace across any country, cops face highly stressful situations on a regular basis which requires high level of patience and panic control. In this regard, simulator training has proved to be of immense help and numerous police academies are deploying these simulators on their premises.
For instance, the New Britain Police Academy has recently adopted simulator trainings to train police to manage stressful responses and make decisions under pressure. The Milo Simulator – chosen by the academy – is an advanced simulator in the state which combines driving an emergency vehicle in highly unfavorable situations such as armed encounters. The human reaction under pressure is unpredictable but this training simulator can help police officers to calmly handle stressful situations.
Operator training simulators have found usage in aviation, railways, police trainings and have applications in several other industries, including healthcare, energy, and chemicals. Operator training simulators play a vital role in training operators in manufacturing and industrial plants. The simulators enhance familiarity with the operations by creating a visual and real-time experience to cement the learnings by experiencing high-risk situations.
Retiring experienced workforce and the increasing demand for quality training of young staff will also contribute in proliferating the operator training simulator industry trends. According to a research report by Global Market Insights, Inc., the operator training simulator market is expected to surpass a remuneration portfolio of USD 20 billion by 2025.
Author Name : Anchal Solanki
Modular data center market to register commendable proceeds from IT & Telecom applications, increasing adoption of IoT and edge computing to drive product demand over 2019-2025
The global modular data center market is poised to gain massive impetus in the ensuing years, primarily driven by the increasing adoption of prefabricated IT technologies, the emergence of small & medium enterprises and the rising demand for edge computing.
The demand for edge computing is rising owing to the massive shifts in the way internet is consumed via organizations and individuals. Edge computing is an architecture that enables data processing and computing as close to the end user as possible. The key drivers of the edge computing model include the growing number of consumer mobile devices and the increasing consumption of video and virtual reality content. Eminent players active in the modular data center industry are seeking innovative ways of deploying edge capacity to support end-users including businesses and consumers. Therefore, as the popularity of edge computing grows across several applications, the global modular data center market size is certain to escalate as far as the number of installations is concerned.
U.S. modular data center market, by application, 2018 & 2024 (USD Million)
The modular data center market from IT & Telecom application segment is primarily driven by the rising need for the rapid deployment of data centers. IT & telecom business vertical is witnessing a massive adoption of the facility to augment the flexibility and scalability of the business operations. Another factor that is driving the modular data center market is the rapid evolution of IoT technology. With the adoption of IoT sensors, the technology is being used in a wide spectrum of applications, for procuring data from the surrounding environment.
The increasing need for data storage would require more robust load distribution strategies. The burgeoning IoT trend will spur the need for edge computing, which will positively impact the demand for IT infrastructure that is easily deployable in remote locations and cost-effective. Hence, the increasing the need for data storage and processing from IT & Telecom application segment will require more data centers to handle diverse and huge data flows, thereby driving the global modular data center market expansion in the future.
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SMEs are significant to economies, particularly the developing ones, but they seldom have access to sufficient credit. According to the World Bank Group, around 70% of all micro, small, and medium scale businesses in emerging markets lack access to credit. As modular data centers can do everything, right from computing, storing, processing, cooling, securing, and detecting fire, hence they can help organizations in saving significant infrastructure and setup costs. Which makes small and medium-sized enterprises a major customer base for this technology, thus allowing SMEs to deploy and maintain their IT operations with low capital expenditure but without compromising on quality. Having said that, the burgeoning number of SMEs in emerging economies will thus be a major factor responsible for propelling the global modular data center industry.
The competitive landscape of the global modular data center industry hosts numerous well-known players such as Cisco Systems, Inc., Huawei Technologies, Cannon Technologies, and Dell, Inc. among others. In order to enhance and expand business operations, major players often engage in partnerships and develop innovative technologies, thereby increasing the revenue inflow of the global market. An ideal example involves Huawei’s recent partnership with Etisalat to plan and distribute pre-fabricated and next-gen modular data centers in UAE in an effort to suffice the requirements of the cloud and digital services of the future. Such partnerships will fulfill the product demand across diverse geographies and hence contribute to the expansion of the global modular data center market.
Additionally, growing applications fueled by innovations in the fields of retail, telecom, and finance along with the emergence of 5G technology will further advance the modular data center market growth. All in all, consumer reliance on the digital world is growing every minute and with increasing adoption of digitized platforms and technologies, data traffic will continue to grow, boosting the requirement for modular data centers globally. A research report by Global Market Insights, Inc. projects the overall modular data center market to be worth more than $50 billion by 2025.
Author Name : Krithika Krishnan
Global structured cabling market remuneration to hit USD 25 billion by 2025, escalating product demand from data center facilities to fuel the industry landscape
Propelled by extensive proliferation of digitization, the structured cabling market is slated to establish itself as an extremely lucrative investment ground in the forthcoming years. A number of legacy facilities are finding it difficult to maintain the order & ease with which a cabling infrastructure can be accessed. However, the extensively used cable management solutions & products in structured cabling can be installed with relative ease & can facilitate modular and simple designs, providing these legacy facilities with an ideal solution for the challenges they face, thereby driving the structured cabling market landscape.
U.S. structured cabling market, by application, 2018 & 2025 (USD Million)
Apart from industrial applications, structured cabling is also finding deployment in modern residential & commercial construction projects. One of the latest avenues of growth for the market is the rapidly developing smart building & intelligent lighting industry, fraught with LED lights, integrated with sensors & controls that perform a number of different tasks, ranging from motion sensitive lighting and controlling brightness & color through the smartphone to managing ventilation according to the number of individuals in a room.
Global structured cabling market | Impact of the growing data center demands from businesses
The increasing adoption of several digital services as well as the growing population of internet users has been augmenting data center demands across the world, which is in turn fueling structured cabling market growth. The world is becoming increasingly more digital & connected – indeed, according to a Cisco Visual Networking Index, the annual IP traffic across the world would be reaching the 3.3 zettabytes (ZB) mark by year 2021 and would be increasing more than threefold over the coming five years, driving extensive demand for data centers.
Structured cabling systems are a crucial part of data centers as they facilitate faster data-transfer rates and ensure effective connectivity of the different IT devices in the facility, thus lessening the chances of system failure & downtime, which significantly improve the effectiveness of a business’ decision-making process, helping it maximize its profits.
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Moreover, increasing high-speed connectivity demands of data center & device convergence would also be responsible for driving the market’s growth. The industry is witnessing an increasing rate of adoption of coaxial & fiber optic cables to quench the high-speed connectivity demands. These cables boast of a significantly greater level of bandwidth & can transfer much larger amounts of data per unit of time in comparison to conventional metal cables, making them a must-have for modern networks and thereby driving structured cabling market further.
Global structured cabling market | Impact of the IT & Telecom sector’s growing dependence on structured cabling
With increasing demand for faster connectivity & higher bandwidth, network designers are of the opinion that the fiber-optic structured cabling segment would be establishing itself as a backbone for the global telecom industry infrastructure. The modern technology-driven world has been changing the operating demands of almost all of the industrial sectors. Moreover, with the rapid evolution of smart devices such as tablets, smartphones & smart watches, that consume voice & data services on a regular basis, the integration of IT & telecommunication is getting rather advanced. This amalgamation is expected to drive more standardization in the two industries during the implementation of advanced technologies & infrastructures that enhance the voice & data services. This has put an increased amount of pressure on telecom companies to facilitate uninterrupted & better services to their customers.
The fiber-optic structured cabling solution is being termed an ideal way with which the industry can fulfil its connectivity requirements as they provide an optimal environment that can transmit voice & data at extremely high speeds. Moreover, as data centers are telecom operators’ foundation in present scenario, the upgradation of these facilities to enhance user experience would also be driving the structured cabling industry size from the IT & telecom sector.
Furthermore, according to a 2018 report by TeleAnalysis, adapting to changing circumstances, more than 60% of the world’s telecommunication network facilities are projected to become data centers over forthcoming years, enabling the structured cabling market to depict sizable growth from the IT & telecom applications.
Owing to the presence of a connectivity-driven foreground, the global structured cabling market would be drawing in significant growth over the years to come. In fact, according to a research report by Global Market Insights, Inc., the overall structured cabling market size would be exceeding a valuation of $25 billion by 2025.
Author Name : Akshay Kedari
Europe data center liquid cooling market to record extensive gains by 2025, robust adoption of direct immersion cooling solutions to expedite the industry landscape
The increasing demand for digital services and unprecedented growth in AI and machine learning has helped push data center liquid cooling market share to new heights lately. Data centers demand efficient cooling systems to reduce power consumption as over 30% of the power is used for cooling purposes. Processor performance is also severely affected by overheating resulting in slower operations. However, with businesses increasingly shifting towards mainframes and supercomputers, liquid cooling technology seems to be an ideal solution for modern data centers. Furthermore, the consistently changing demands for new, uninterrupted digital has been prompting data centers to adopt innovative technologies that will help boost data center liquid cooling market in the coming years.
China data center liquid cooling market, by solution, 2018 & 2025 (USD Million)
The growing implementation of artificial intelligence (AI), big data, cloud, and machine learning in newly developed software solutions has also been driving the industry growth. With the development of more powerful chips capable of rapidly processing data for new complex applications, the amount of power consumption has exponentially increased leading to more component heat generation. For instance, an increasing number of GPUs and FPGAs are nowadays pushing systems to their limits for smoothly running heavy applications like AI, big data analytics, HPC, media streaming, machine learning which in turn generate high amounts of heat. Reports claim that the heat profile for many GPU based servers is double than that of traditional servers. However, with the benefits of liquid cooling technology businesses can deploy applications at a much higher density with increased efficiency, that will lead to a commendably reduced carbon footprint, supplementing the data center liquid cooling industry growth in the upcoming years.
One of the most extensively used solutions for data center cooling is the direct immersion cooling solution. Also known as liquid submersion cooling, this solution is used to submerge full servers in a thermally conductive liquid to offer enhanced temperature control. The method is slowly gaining popularity with innovative datacenters across the world. Some ultra-high-speed supercomputers like IBM’s Summit supercomputer already use liquid cooling technology to pump around 4,000 gallons of water per minute through its system.
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Direct immersion can significantly cool solid-state drives, which makes the entire process more efficient in comparison with traditional methods. The technology also reduces system humidity & heating effect, further offering high operational performance and speed. Additionally, solution developers offer efficient maintenance & installation services to data center clients which further supports industry expansion. Indeed, it comes as no surprise that the data center liquid cooling industry will gain substantial momentum from the robust adoption of direct immersion cooling solutions.
Hyperscale data centers – the latest trend that will proliferate data center liquid cooling market size
The increased focus on business agility and cost optimization has led to the rise and growth of cloud data centers which in turn has given birth to the trend of hyper scaling. Hyperscale cloud operators are increasingly offering better resources and bandwidth that support the growing demand for storing large chunks of data on the cloud. Compared to traditional models, hyperscale data centers require to operate in colder zones as these facilities constantly handle increasingly large amount data traffic, which expands IP connections and fulfills high storage demands, factors that make it essential for deploying servers with high-density cooling elements like liquid coolers and water-chilled metal boxes equipped with blowers to enable fast operation at ambient temperatures. The growing shift towards hyper scale cloud data centers will thus augment the growth of data center liquid cooling industry.
Speaking of the regional expanse of the data center liquid cooling market, it would be prudent to state that APAC and Europe are two prominent geographical revenue pockets for the industry. Asia Pacific data center liquid cooling market will witness significant growth over the ensuing years, driven by the increase in data capabilities brought forth by the growing digitalization in every possible industry sector.
The expansion of the Europe data center liquid cooling market can be majorly credited to the massive presence of numerous colocation facilities across the continent. Powered by the advent of robust digitization across the industries such as BFSI and medical care, in tandem with the rapid adoption of machine learning technology in the region, Europe data center liquid cooling industry share is set to soar high in the years to come.
Liquid-based cooling solutions have more heat removal capabilities & can reduce a data center’s power consumption by about 70%. The paradigm shift toward high energy consuming applications and the deployment of AI, big data and machine learning will mandate the adoption of liquid cooling solutions for smoother operations in the years ahead. Reports from Global Market Insights, Inc. cite that the data center liquid cooling market size will exceed the $2.5 billion mark by 2025.
Author Name : Mateen Dalal
Edge data center market to accrue substantial gains from the IT & telecom applications, global industry revenue to surpass USD 13 billion by 2024
Increased deployment of edge computing and the need for having a greater control on data has enhanced the edge data center market penetration across numerous industry verticals worldwide. Establishing a data center close to the source of information allows for a faster access and real-time analysis of data, complemented with reduced network traffic and lower cost for operating and maintaining the infrastructure. The edge data center industry has enabled organizations and cloud-based service providers to reach smaller cities, locations where large data centers do not have a presence but represent considerable data generation.
U.S. edge data center market, by application, 2017 & 2024 (USD Million)
Continuous growth of the IT and telecommunications, healthcare, banking and energy segments have gradually propelled the edge data center market revenue over the last few years. These sectors generate enormous amounts of information which are used by enterprise customers and businesses to enhance consumer experience. Growing popularity of online streaming services has also benefited the edge data center industry, as caching web application or content on servers nearer to the market allows for high-quality and high-bandwidth services. Companies like 365 Data Centers and EdgeConneX have tapped into these opportunities and expanded their edge data centers around the globe.
Elaborating further, EdgeConneX had earlier in the year announced its plans to add up to 50 MW capacity in North America, cover tier-2 cities like Atlanta, Phoenix, Denver, among others, and had already opened its second center in Atlanta by August. It later unveiled an edge data center in Toronto as well, bringing its total number to 40 such centers spread over North America, South America and Europe, becoming a key player in the edge data center market. More recently, it had confirmed the acquisition of an edge data center in Warsaw, Poland, encouraged by the nation’s rising adoption of cloud, favorable data regulations and ease of access for nearby countries.
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Widespread expansion activities undertaken by the company is representative of the overall edge data center industry trends, driven by the unparalleled rate of development in the telecommunications sector. The growth of IoT and the increasing number of connected devices globally has created a need for communicating captured valuable data quicker. It is projected that by 2022, the number of connected devices in the world will reach 29 billion, indicating the massive amount of data that will be gathered, inadvertently strengthening the edge data center market.
The propagation of 4G LTE networks has allowed consumers to access and use various online services, with LTE downloads averaging around 19.4 Mbps in the U.S. over the last quarter of 2017. Fast developing economies have also witnessed an accelerated growth rate in terms of IoT and data usage, with average 4G consumption in India reported to be around 11 GB per month in December 2017. Telecom firms are leaning more towards edge computing to gain the ability to store immense data accumulated from devices and direct it straight to a central center or cloud platform, minimizing the backhaul traffic.
Additional reports have indicated that by 2021, global mobile data traffic will reach nearly 49 exabytes per month, which would be a seven-fold increase from 2016 figures. 5G, the latest generation of communication networks, is expected to grow steadily over the period and can become the key network utilized for most applications over the following years. Experts insist that without edge computing, 5G will not be able to meet its intended goals of very low latency and colossal broadband services. Subsequently, as the implementation of 5G proceeds steadily throughout the world, fulfilling the network’s huge potential will necessitate the advancement of the edge data center market.
All in all, the rising network consumption in the telecommunications industry consumers and the augmented utilization of edge computing in other sectors will fuel the global edge data center market, with its valuation estimated to cross USD 13 billion by 2024. Fast-growing companies like Anixter, Cisco Systems, Dell, EdgeConneX, 365 Data Centers, Panduit Corp, Schneider Electric, and many others offer the required edge data center infrastructure, equipment and third party services.
Author Name : Pankaj Singh