Enterprise Asset Management (EAM) Market Revenue and Share With Key Players and Demand by 2023
The growing need of continuous monitoring in asset-intensive industries and organizations for wide range of technologies, physical and human assets has increased market penetration of asset management system in recent years. Asset-intensive industries uses asset management system for wide range of applications including repair machinery, inventory and production, hiring and scheduling process of employees, support for physical plants, and the maintenance of rolling assets.
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The key drivers for enterprise asset management (EAM) market includes increasing asset utilization of the enterprise, their increasing need for reduction in operating costs, and safeguarding the supply chain availability and visibility. Enterprise asset management is also helpful in the industries with dynamic nature of work, such as audit compliance where the standards change over time and the upkeep of their records is important.
The enterprise asset management market is consolidated with players such as SAP SE, IBM and Oracle accounting for a majority of share. The market is led by SAP SE which also claims to have the largest range of solution for enterprise assets management. Owing to the increasing market reach of dominant players, the share of small-sized regional EAM companies have been declining over past few years. The smaller enterprise asset management suppliers are not able to compete efficiently with the larger enterprise asset management suppliers owing to their limited product offering and high product differentiation.
North America was the largest market of enterprise asset management market; the market leadership of North America is attributed to the wide adoption of enterprise asset management across small and medium sized enterprises. Asia-Pacific region is expected to be the fastest growing enterprise asset management market during the forecast period. Industrialization and need for increased manufacturing capacity in Asia Pacific market is expected to be a dominant driver for the enterprise asset management market in the region.
Some of the competitors in global the enterprise asset management market are Assetsworks, Real Asset Management, CGI Group, Infor, Schneider Electric, ABB Ltd., IFS AB, Oracle Corp., SAP SE and IBM Corp.
Residential Sector Is Contributing Largest Revenue to the Solar Panel Market by 2023
The global solar panel market witnessed a double digit growth, which was mainly fueled by the increased capital investment in developed countries, increasing demand from the developing countries and consolidation in the supplier base. At present, China has more solar panel installation than the entire Europe; while in India it has also increased significantly, during the past few years. Similarly, the demand of solar panel from Japan has also increased owing to the favorable incentives for solar power by the Japanese government. The demand from the concentrated photovoltaic solar (CPV) in the U.S. is expected to grow significantly, during the forecast period. The demand of high concentrated photovoltaic solar (HCPV) and low concentrated photovoltaic solar (HCPV) is expected to grow in double digit during the forecast period.
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The residential segment is expected to be the fastest growing application segment in the global solar panel market during the forecast period in the U.S. In terms of volume, the residential solar panel market grew more than 50%, while the market has higher market penetration in Europe, owing to the decentralized energy generation model in the region. The increased government funding in developing countries has intensified the growth of solar power capacity in the region, which in turn is fueling the demand of solar panel in residential power generation.
With the advancement of technology, the price of solar panel is expected to decrease during the forecast period. While the efficiency of solar panel system is expected to increase in the coming years. The improvement in the supply chain of solar panel, along with the cost advantage from economy of scale is expected to decrease their cost during the forecast period.
Asia-Pacific accounted for the largest market. The surge within the solar energy generation capacity in China, India, and Japan has boosted the growth of the Asia-Pacific market. Asia-Pacific is expected to be the fastest growing market during the forecast period, owing to the increasing market penetration of solar panel from Japan and South-East Asia. Country wise, Germany, Italy, the U.K., China, India, Japan, and Brazil are expected to be the major markets during the forecast period.
Some of the competitors in the global solar panel market are First solar, Canadian Solar, SunPower, Jinko Solar, Hanwha-solar one, ReneSola and Sharp.
Digital Signage Market Size, Share, Trends, Key Players, Demand and Growth Opportunities by 2023
The digital signage market is growing at a considerable rate due to cost-efficiency. Emerging technologies such as ultra-high definition and growing demand for signage solutions for retail, hospitality and government organizations are some of the factors providing growth opportunity to the digital signage market in the coming years.
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Due to advancement in infrastructure and technological advancements in the developed countries such as Europe and North America, the digital signage market is expected to grow at an exponential rate in the coming years. The Asia-Pacific digital signage market is expected to witness the highest growth rate during the forecast period due to growth in business sectors and favorable economic conditions in the region. The developing countries such as India and China are also supporting the growth of signage market in the region due to increasing purchasing power, booming retail sector, and enhanced consumer living standards.
On the basis of applications, the digital signage market can be categorized as infrastructure, industrial, commercial and institutional. The infrastructure application for digital signage market includes entertainment and transportation; commercial application includes corporate, government, retail, hospitality and healthcare; and institutional application includes education and banking.
Increased usage of organic light emitting diode (OLED) based displays in mobile phones and tablets, and growing use of LED backlit panels in digital signage to prevent paper wastage are some of the factors driving the growth of the digital signage market. The highly dynamic nature of digital signage is providing opportunities to the digital signage market to grow in the coming years. Some of the factors restraining the growth of the digital signage market include low awareness about this technology and its benefits to consumers, lack of standards for interoperability between devices, and power related issues of digital signage.
Some of the competitors in the digital signage market are LG Display Co., Ltd., Planar Systems Inc., Sony Corporation, AU Optronics Corp., Omnivex Corporation, Adflow Networks, Samsung Electronics Co. Ltd., Panasonic Corporation, Sharp Corporation and NEC Display Solutions.
Variable Refrigerant Flow (VRF) Systems Market Revenue, Share, Drivers, Key Players, Demand and Growth Rate by 2023
Global Variable Refrigerant Flow (VRF) systems market is expected to reach $24.1 Billion by 2023 and is growing at a CAGR of 13.4% during 2018–2023. The growth in the market can be attributed to the increasing demand for energy-efficient and cost-effective heating, ventilation, and air conditioning (HVAC) systems. Besides, growing construction industry and increasing energy management activities are the key factors bolstering the growth of the VRF systems market, globally. Major players in the market are focusing on providing eco-friendly refrigerants for these systems, and consumers in developed economies are increasingly adopting the VRF technology.
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On the basis of application, the VRF systems market has been categorized into commercial, residential, and other applications. Commercial areas of application include buildings, educational institutions, healthcare facilities, hotels and restaurants, and retail stores. Such systems condition multiple zones in a building having varied heating and cooling needs. Commercial applications are expected to continue holding the largest share in the market in the coming years. This can be mainly attributed to the growing focus on energy-efficient technologies and products and increasing commercial structures across the globe.
Based on system type, the VRF systems market has been categorized into heat pump and heat recovery systems. In a heat pump system, all indoor units get conditioned in the same mode (either cooling or heating). A heat recovery system, on the other hand, has the capacity to heat and cool the facility simultaneously. Heat pump systems constituted around 75% of the total VRF installations in 2017, globally. The higher adoption of heat pump systems can be attributed to their lower acquisition cost and fewer design constraints.
VRF HVAC systems use state-of-art technology that enables them to control and adjust temperatures of different zones. Instead of a one large unit to pump out air, a VRF HVAC system uses several air handlers that can be controlled individually, based on the heating and cooling requirements. Moreover, unlike traditional air conditioning systems, VRF HVAC systems do not require much ceiling and wall space, as they make use of small air handlers.
Some of the key players operating in the VRF systems market are Emerson Electric Co., United Technologies Corporation, Daikin Industries Ltd., Johnson Controls International Plc, Schneider Electric SE, Toshiba Corporation, LG Electronics Inc., Fujitsu Ltd., Mitsubishi Electric Corporation and Media Group Co. Ltd.
Latin America Commercial Refrigeration Equipment Market Revenue, Share, Drivers, Key Players, Demand and Growth Rate by 2023
The Latin American commercial refrigeration equipment marketgenerated revenue of $1,766.0 million in 2017. The market is growing at a CAGR of 4.5% during 2018 - 2023 and will reach $2,295.4 million by 2023. The growth in the market can be attributed to the growing food and beverage industry, predominantly in countries such as Brazil and Mexico. The consumption of ready-to-eat products, beverages, and frozen food is increasing in Latin America, which is further boosting the demand for commercial refrigeration equipment.
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On the basis of equipment type, the Latin American commercial refrigeration equipment market has been categorized into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, parts, display cases, ice making machineries, and other equipment, wherein ‘other equipment’ includes vending machines, cryogenic equipment, and liquid chiller. Walk-in coolers equipment was the largest category in terms of value in 2017.
Based on end-user, the Latin American commercial refrigeration equipment market has been categorized into supermarkets, hotels/restaurants and catering, hypermarkets, convenience stores, e-commerce, and others, wherein others category includes hospitals, educational institutions, large pharmaceutical stores, and medical and life sciences. Supermarkets held the largest share in the market accounting for 26.2% share in 2017. The increase number of supermarkets in Brazil and increasing food retail sales through supermarkets in Chile are the major factors driving the market in the region.
Some of the key players operating in the Latin American commercial refrigeration equipment market are Electrolux AB, Daikin Industries Ltd., Metalfrio Solutions, Dover Corporation, United Technologies Corporation, Johnson Controls International PLC, Hussmann Corporation, AHT Cooling Systems GmbH, Lennox International Inc. and Illinois Tool Works Inc.
Asia-Pacific (APAC) Electric Motor Market Size, Share, Trends, Key Players, Opportunities and Demand by 2023
The APAC electric motor market was valued at $50.9 billion in 2017 and is growing at a CAGR of 6.9%, during 2018 - 2023 and will reach $77.8 billion by 2023. The growth in the market can be owed to adoption of motor-driven vehicle registering an explosive growth in the APAC region. Major players in the market are focusing towards building energy efficient motors to enable industries to reduce power consumption.
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Based on motor type, the market has been segmented into AC motors, DC motors and hermetic motors. Hermetic motor is anticipated to witness the fastest growth during the forecast period. The progress of this market can be attributed to demand for HVAC equipment from the construction industry. Strong economic growth in developing economies in the coming years is expected to fuel the construction industry. Moreover, replacement of older HVAC equipment containing harmful gases with environment friendly gases will further support electric motor market growth.
India is expected to be the fastest growing electric motor market in APAC, during the forecast period, owing to growing manufacturing and construction industry in the country. The Make in India initiative which was launched in 2014, with the aim of making India a global manufacturing hub, has improved domestic manufacturing in the country, which will support market growth in the coming years. Further, growth is expected to come from the real estate sector which is expected to by over 30% over the next 10 years supported by foreign direct investments (FDI) and government initiatives.
The demand for electric vehicles has shown an explosive growth in the recent years with electric motors being one of the major components in these vehicles. The production of electric cars in APAC has witnessed CAGR of 90% during 2013-2017. One third of deaths globally occur in Asia-Pacific due to air pollution. To curb this, governments in Asia-Pacific region introduced various sales targets for electric vehicle sales and subsidies to support higher adoption of electric vehicles.
Some of the key players operating in the market are Emerson Electric Co., Toshiba Corporation, Wolong Holding Group Co. Ltd., Siemens AG, Johnson Electric Holdings Limited, DENSO Corporation, ABB Ltd., Mitsubishi Electric Corporation, Ametek Inc. and Robert Bosch GmbH.
Frequency Synthesizer Market Revenue, Share, Trends, Key Players, Demand and Opportunities by 2023
The frequency synthesizer market is growing at a CAGR of 6.8% during 2018–2023 and will reach $1,236.9 million by 2023. The growth in the market can be attributed to the use of frequency synthesizer in mobile phones which are registering a healthy upward trend in adoption globally. Major players in the market are focusing on providing high switching speed, wide output frequency range and high signal clarity in these devices.
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On the basis of type, the frequency synthesizer market has been categorized into analog and digital. Analog frequency synthesizers held 74% of the global market in 2017. The higher demand for analog frequency synthesizers is attributed to its requirement of strong signal clarity and low noise production capability in industries like telecommunication, military and aerospace. The wide adoption of digital frequency synthesizers in cellular applications is expected give a boost to the digital frequency synthesizers market during the forecast period.
APAC is expected to contribute the largest revenue share in frequency synthesizer market in 2023, owing to the fastest growing telecommunication industry in the countries of APAC region. Additionally, countries like India have started increasing in-home production of military equipment which is expected to further fuel the demand for digital synthesizers in the region. In APAC, China contributes to the largest demand for digital synthesizers while, India is expected to be the fastest growing market.
Some of the key players operating in the market are National Instruments Corporation, Texas Instruments Incorporated, EM Research Inc., Analog Devices Inc., Qorvo Inc., Micro Lambda Wireless Inc., Sivers IMA Holding AB, MERCURY Electronic Ind Co. Ltd, Ultra Electronics Holdings plc, Programmed Test Sources Inc., Cobham plc and FEI-Elcom Tech Inc.