Month: November 2021

Due to the burgeoning requirement for high-speed network, surging mobile data traffic, and the increasing penetration of the 5G network, the global 5G network slicing market is exhibiting huge expansion. 5G network slice is basically a networking architecture that uses software-defined networking (SDN) and network functions virtualization (NFV) for breaking the physical infrastructure into different virtual networks.

With the help of the 5G network slice, telecom operators can allocate resources to a particular slice, according to the requirements. The mushrooming mobile data traffic is one of the major growth drivers of the 5G network slicing market. With the increasing usage of smartphones and the advent of high-speed network services, the usage of mobile data is rising sharply across the world.

According to GSMA (Global System for Mobile Communications Association) Intelligence, the worldwide smartphone penetration is predicted to grow from 65% to 80% from 2019 to the end of 2025. The soaring requirement for professional services such as integration, security, and consulting for network management in order to comply with the government regulations.

When application is taken into consideration, the market is categorized into asset management, remote monitoring, supply chain management, network monitoring, and real-time streaming. Out of these, the remote monitoring category contributed the highest revenue to the market in 2019, as per the observations of P&S Intelligence, a market research company based in India.

Geographically, North America dominated the 5G network slicing market in 2019, and this trend will continue in the coming years as well. This is ascribed to the growing 5G penetration in the region. According to the GSMA Intelligence, 5G technology will account for 46% of the total connections in the region by the end of 2025. Moreover, the surging information technology (IT) spending and the existence of several industry players are also fueling the market expansion in this region. 

Hence, it can be said with surety that the market will boom in the forthcoming years, primarily because of the increasing usage of smartphones and mobile data traffic, surging adoption of the 5G technology, and soaring demand for high-speed network all over the world.

The International Energy Agency (IEA) states that the stock of battery electric vehicle (BEV) (cars) in China, Europe, and the U.S. increased from 2.6 million in 2019 to 3.5 million in 2020, 1.0 million in 2019 to 1.8 million in 2020, and 0.9 million in 2019 to 1.1 million in 2020, respectively. It also reveals that the stock of plug-in hybrid electric vehicles (PHEVs) (cars) surged from 0.8 million in 2019 to 1.0 million in 2020 in China and 0.8 million in 2019 to 1.4 million in 2020 in Europe. 

The expanding electric vehicle (EV) stock, on account of the surging need to reduce carbon emissions, will, therefore, help the battery management system market advance at a notable CAGR of 15.0% during 2021–2030. According to P&S Intelligence, the market was valued at $5,661.0 million in 2020, and it will generate $22,279.6 million revenue by 2030.

The increasing shift toward EVs can also be credited to the surging government support toward the EV sector, in terms of subsidies and tax rebates. Additionally, the escalating demand for consumer electronics, such as laptops, smartphones, wearable devices, and digital cameras, will also accelerate the adoption of BMS in the foreseeable future. Battery management systems (BMSs) are integrated into such electronic products to control the operation of batteries.

Additionally, the rising use of rechargeable batteries in consumer electronics will also create an enormous need for BMSs, as they manage rechargeable batteries by monitoring their health and collecting and reporting data. Therefore, the growing preference for EVs and increasing use of rechargeable batteries in consumer electronics will accelerate the production of BMSs, globally.  

This market research report provides a comprehensive overview of the market

• The Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

The Asia-Pacific (APAC) compressor market attained a value of $19.9 billion in 2019, and it is predicted to advance at a CAGR of 3.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $25.7 billion by 2030. The factors driving the market expansion are the expansion of the heating, ventilation, and air conditioning (HVAC) and automotive industries and the surging investments being made in infrastructural development and gas pipeline projects in the region.

As per reports, the automotive industry registered a growth of nearly 35%, in terms of vehicle sales, from 2012 to 2019 in China and around 22% in vehicle sales in India from 2012 to 2018. Depending on type, the APAC compressor market is bifurcated into positive displacement and dynamic. Between these, the positive displacement bifurcation held the larger share in the market in 2019, due to the extensive requirement for rotary type of compressors. 

Moreover, because of the surging usage of these compressors in several applications such as automotive, heating, ventilation, air conditioning, and refrigeration (HVAC-R), industrial manufacturing, power, construction, and food and beverage, the category is predicted to dominate the market in the forthcoming years. When application is taken into consideration, the market is categorized into power, construction, industrial manufacturing, HVAC-R, chemical and cement, oil and gas, automotive, food and beverage, textile, agriculture, research, and healthcare. 

Hence, the market is certain to exhibit rapid progress in the coming years, primarily because of the expansion of the HVAC and automotive industries, soaring usage of compressors in these industries, and the booming construction sector in several APAC countries. 

This market research report provides a comprehensive overview of the market

• The Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

The International Telecommunication Union (ITU) estimates that the number of internet users around the world surged from 3.7 billion in 2018 to 4.0 billion in 2019. As per the ITU, around 51% of the global population was using the internet in 2019. The surging internet usage can be owed to the rising affordability of the internet, primarily on account of rapid technological developments in the information technology (IT) and telecom industry.

The widespread internet use is facilitating the adoption of online fitness platforms to remain healthy, as they help in measuring health parameters, such as heart rate and calories burnt. Additionally, the increasing penetration of smart devices, such as smart TVs, smartphones, and smartwatches, will also contribute to the online fitness market growth during the forecast period (2021–2030).

The growth of this market can also be credited to the growing preference for outdoor fitness activities, such as bodyweight training, cycling, high-intensity interval training (HIIT), pilates, and trail running. Besides, the increasing advancements in the smart wearable technology will also propel the adoption of online fitness platforms, owing to the ability of advanced wearables to track the progress of individuals and get the maximum benefit from such physical activities.

According to P&S Intelligence, the North American region was the dominant customer of online fitness platforms in the recent past, owing to the high public awareness regarding a healthy lifestyle and deep penetration of the internet and smartphones. The World Bank states that approximately 89% of the U.S. population and about 97% of the Canadian population had access to the internet in 2019.

Additionally, the rising popularity and affordability of smart wearables will also encourage the people of Canada and the U.S. to shift toward online fitness platforms to connect their devices and measure their progress via smart applications. Thus, the growing internet and smartphone usage and increasing preference for outdoor physical activities will accelerate the adoption of online fitness platforms worldwide.  

With the expansion of the construction industry, the demand for heating, ventilation, and air conditioning (HVAC) systems is growing rapidly in the U.A.E. In recent years, the country has witnessed a sharp surge in the number of infrastructural development projects, especially airport construction and metro railway expansion projects. For example, the ‘Route 2020’ project, that is, the extension of the Redline of the Dubai Metro was launched by the government in 2018.

The growth of the U.A.E. HVAC market. As a result, the market revenue is predicted to grow from $1,873.1 million in 2019 to $2,774.7 million by 2030. Furthermore, the market is expected to progress at a CAGR of 5.2% between 2020 and 2030. Depending on offering, the market is divided into service and equipment. Between these, the service category is predicted to hold a larger share in the market in 2030.

The most widely used HVAC equipment in the country are heating, ventilation, and cooling systems. Amongst these, the demand for the cooling systems was the highest in the past, and this trend is predicted to continue in the coming years. This will be because of the hot and humid weather in the country for the most part of the year, due to the desert climate and the incoming humidity from the Persian Gulf.

The U.A.E. HVAC market will demonstrate the fastest growth in the Abu Dhabi & Al Ain region in the years to come, as per the estimates of P&S Intelligence, a market research company based in India. The Abu Dhabi Government has recently launched the Abu Dhabi 2030 plan, which, once completed, will attract at least 7.9 million tourists to the region, thereby reducing the region’s economic dependency on the oil and gas sector. 

Hence, it is safe to say that the sales of HVAC systems will surge in the U.A.E. in the forthcoming years, primarily because of the expansion of the hospitality and tourism and construction sectors in the country. 

The increasing penetration of the 5G technology is expected to propel the C-RAN market at a robust CAGR of 15.9% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue will surge from $936.3 million in 2018 to $2,159.2 million by 2024. In addition, the accelerating digitalization rate, soaring use of smartphones, and mounting demand for internet of things (IoT) services and solutions will also contribute to the market growth in the upcoming years. 

C-RAN solutions offered by Verizon Communications Inc., Nokia Corporation, Ericsson Inc., ZTE Corporation, Fujitsu Limited, NEC Corporation, Huawei Technologies Co. Ltd., Intel Corporation, Cisco Systems Inc., and Samsung Electronics Co. Ltd. can be deployed in indoor as well as outdoor spaces. As compared to indoor deployment, outdoor deployment provides better coverage in high-density network areas, such as malls, parking lots, and stadiums.

The aforementioned companies offer managed and professional services for 3G and 5G & LTE networks.  In recent years, North America has emerged as the largest user of C-RAN technology due to the deep penetration of 5G technology in the region. Moreover, the introduction of numerous services for fixed-line and wireless mobile networks by telecom companies, on account of the heavy investments being made in research and development (R&D) activities for the deployment of new technologies and development of technologically advanced infrastructure, is also encouraging the adoption of C-RAN technology in the U.S. and Canada.  

Whereas, the APAC C-RAN market is expected to exhibit the fastest growth during the forecast period, owing to the escalating demand for virtualization and 5G technologies for improved consumer experience and improved network coverage. Additionally, the soaring population of smartphone users and increasing data consumption will also drive the demand for C-RAN solutions in the region.

Besides, the rising need for cost-effective and scalable networks, on account of the growing number of small- and medium-sized enterprises (SMEs), will also contribute to the market growth in the region. Therefore, the increasing demand for LTE services and the surging penetration of 5G technology are fueling the adoption of C-RAN technology across the world.  

Manufacturers of e-cigarettes promote and sell their products through dedicated in-store hubs and kiosks at larger grocery shops and retail outlets, owing to which the accessibility of vaping products has become easy. In addition to kiosks and in-store hubs, producers are also setting up their stores and outlets to offer a vaping experience similar to of the one offered at a club.

In contemporary times, traditional smokers are inclining toward these designated outlets and stores to enjoy a variety of flavors and better quality vaping devices available at these places. The easy availability of e-cigarettes on multiple distribution channels will, therefore, help the e-cigarette market witness a CAGR of 9.2% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will surge from $15.7 billion in 2019 to $39.0 billion by 2030.

In recent years, the acceptance of vaping devices has significantly increased due to the rising awareness regarding environmental and human health. With the growing public awareness, many governments have imposed a complete ban on smoking in several public spaces. Infused and heat-not-burn t-vapor, vape mod, rechargeable and disposable cig-a-like, and closed system and open tank vaporizer are the different types of e-cigarettes available for the male and female population of the world.

In the preceding years, vaporizers were adopted in the highest quantity due to their low cost and dense aerosol production. Moreover, vaporizers can be used with a wide range of flavors, owing to which users prefer this vaping device over others. In the coming years, t-vapors will be consumed in enormous quantities due to their high resemblance to traditional cigarettes.  

Thus, the increasing availability of vaping products and surging acceptance of vape devices will encourage more people to use e-cigarettes globally.  

Everyone wants to stay connected wherever they are, whether it is watching movies and surfing the internet on the go and controlling home appliances from remote locations or sending data from medical devices straight to the doctor and planning predictive maintenance of machines in a factory weeks before a serious fault occurs. For this, impeccable internet connectivity with high data transfer speeds and low latency is paramount.

While the 3G and 4G technologies made connected living possible, 5G is set to revolutionize it. Thus, with advancements in technologies and the changing outlook of people on everyday life, P&S Intelligence predicts the 5G infrastructure market revenue to surge massively in the near future from around $1.5 billion in 2020.

According to the GSM Association, “By 2025, 5G networks are likely to cover one-third of the world’s population.”, which reflects a huge upcoming demand for the various components required for setting up the infrastructure and services needed by firms planning to launch or use 5G services. The key reason behind the growing demand for the associated services and hardware is the rising adoption of the internet of things (IoT).

The concept applies to all devices and equipment that are embedded with sensors, processing software, and an internet connection for sharing data amongst themselves and other entities, such as smartphone apps and control rooms. Moreover, anything dubbed ‘smart’ these days, such as smartphones, smart lights, smart factories, smart wearables, and even smart homes, uses this technology.

Therefore, 5G is expected to be at the forefront of the evolution of the way people and even machines communicate in the 21^st century.

The International Energy Agency (IEA) forecasts that the sale of battery electric vehicles (BEVs) (cars), fuel cell electric vehicles (FCEVs) (cars), and plug-in hybrid electric vehicles (PHEVs) (cars) will rise from 2,008,024 units in 2020 to 14,370,678 units by 2030, 9,601 units in 2020 to 293,176 units by 2030, and 969,034 units in 2020 to 7,761,233 units by 2030, respectively. The soaring electric vehicle (EV) sales, owing to the growing concerns regarding vehicular pollution, will propel the adoption of compressors in the automotive sector, as they are used in tire inflation, air conditioning systems, and painting.

Additionally, the increasing adoption of heating, ventilation, and air conditioning (HVAC) systems will drive the compressor market at a CAGR of 3.1% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will grow from $39.9 billion in 2019 to $48.5 billion in 2030. The escalating demand for HVAC systems can be owed to the large-scale construction of residential and commercial buildings, growth in the smart homes market, and rapid development of energy-efficient systems.

Geographically, the Asia-Pacific (APAC) region adopted the largest number of compressors in the recent past, and it is expected to maintain its lead in the foreseeable future. This can be primarily owed to the booming automobile industry in the region. The burgeoning demand for EVs in China and Japan owing to the rising government support toward the EV industry in the form of subsidies and tax benefits will facilitate the adoption of compressors. Moreover, the sale of conventional automobiles is also high, which is driving the demand for compressors among automakers.

Whereas, the Middle East and African (MEA) compressor market is expected to demonstrate the fastest growth in the forecast years owing to the mounting investments in the construction of production units and surging output of processed food products in the region. Nowadays, automakers are focusing on establishing their manufacturing plants in Algeria, Egypt, and Tunisia. Besides, the surging emphasis of major Gulf nations, such as Saudi Arabia, on transforming their industrial landscape is expected to boost the market growth in the MEA.

Thus, the escalating EV sales and surging demand for HVAC equipment will create a huge requirement for compressors globally.

The certificate authority market is expected to demonstrate a CAGR of 12.3% during the forecast period (2020–2030), owing to the escalating need of businesses to establish trust among online customers and rising public awareness about secure web access. Additionally, the booming population of internet users and increasing number of transactions that require authentication and secure connection will also help the market revenue surge from $81.7 million in 2019 to $285.7 million by 2030.

In recent years, there has been an exponential surge in the number of online customers, owing to which, businesses have been focusing on establishing trust with their existing and potential customers. The increasing need to build trust is an outcome of the availability of a wide horizon of products and services online. In such an intense competitive ecosystem, brand trust and customer loyalty have become essential differentiators for enterprises. Therefore, the surging requirement to establish customer trust is a key contributor to the market growth.

Globally, North America accounted for the largest share in the certificate authority market in 2019, owing to the presence of numerous digital certificate providers and stringent data security laws and compliance standards in the region. The North American market is dominated by the U.S. due to the robust implementation of various federal privacy laws and new customer-oriented privacy laws in multiple states. The Children’s Online Privacy Protection Act (COPPA) of 2000, the U.S. Privacy Act of 1974, and the Health Insurance Portability and Accountability Act (HIPAA) of 1996, are some of the data privacy regulations in the country.

Whereas, the Asia-Pacific (APAC) region is expected to register the fastest growth in the certificate authority market throughout the forecast period, due to the accelerating digitalization rate and rising number of online businesses. Moreover, increasing use of the internet of things (IoT) technology will also support the market growth in the region, as its implementation can amplify the frequency of malicious attacks. To counter cyberattacks, enterprises are using public key infrastructure (PKI) certificates, as they represent identity in a cross-platform and cross-organizational way. 

Therefore, the growing focus of business entities on trust-building and soaring public awareness about secure web access are the prominent growth drivers of the market.