Market Research News Federation Board

For a company to create brand loyalty, it is important to listen to what customers have to say and resolve their queries as quickly and efficiently as possible. That is why most large companies have a contact or call center, or outsource these tasks to one. When people call the customer support number, they are greeted by a human-like voice that gives them directions, asking them to press certain numbers on the dial pad depending on the purpose of calling. Hence, with the growing number of contact centers around the world, P&S Intelligence forecasts the voice assistant market value to increase from $1,723.6 million in 2019 to $26,872.6 million by 2030, at a CAGR of 29.7% between 2020 and 2030 (forecast period). This is because such a human-like voice is generated at contact centers by sophisticated voice assistant software. Moreover, the even-more-advanced voice assistant software can talk like a human, rather than just offering directions, reacting to what someone at the other en...

Situated on the eastern edge of the Arabian Desert, the U.A.E. is a perpetually hot country, where pleasant weather is nothing short of a fantasy. In summers, average temperatures regularly exceed 45 °Celsius; therefore, coolness needs to be artificially created, which is why the sale of air conditioners and chillers is rather high here. Similarly, hot and humid air blows from the Gulf of Oman inward during summers, which makes the weather extremely unpleasant, thus leading to a strong requirement for ventilation. Thus, P&S Intelligence credits the unfavorable climate while forecasting a 5.2% CAGR for the U.A.E. heating, ventilation, and air conditioning (HVAC) market during 2020–2030. At this rate, the revenue generated by the sale of such systems will increase to $2,774.7 million by 2030 from $1,873.1 million in 2019. The other reason for the growing HVAC sales in the country is the rampant infrastructure development, much of it under the government initiatives to reduce its rel...

With increasing environmental concerns, the deployment of electric vehicles (EVs) has surged over the last few years. Moreover, the rapid installation of proper EV charging facilities will further boost the sales of EVs in the coming years, which will subsequently push up the requirement for EV charging cables. According to the International Energy Agency (IEA), the worldwide electric car stock reached 10 million units in 2020, registering an increment of 43% from 2019. The burgeoning need for EVs is encouraging the governments of several countries to make huge investments in the development of EV charging facilities. As per the IEA, the total number of EV charging points all over the world rose by nearly 44% from 2017 to 2018. The installation of these charging stations is expected to propel the demand for EV charging cables in the coming years, which will drive the global EV charging cables market.  According to the observations of the market research company, P&S Intelligen...

Cloud and centralized radio access network (C-RAN) is a software-based architecture that offers enhanced user experience, facilitates reduced inter-cell interference, and provides increased storage capacity at areas with increased network density, such as offices, malls, event spaces, stadiums, and amusement parks.  In recent years, telecom companies have also extensively adopted the C-RAN technology due to the booming demand for long-term evolution (LTE) services, as it does not require hardware installation and maintenance. Furthermore, 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 C-RAN 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 co...

As per P&S Intelligence, the rampant construction activities will likely take the Saudi Arabian heating, ventilation, and air conditioning (HVAC) market value from $2,476.1 million in 2020 to $4,821.8 million in 2030, at an 8.1% CAGR between 2021 and 2030. This is because, occupying a major part of the Arabian Desert, the kingdom witnesses perpetually hot and dry weather, which makes air conditioning important. Earlier ventilated by traditional wind catchers, Saudi buildings are now being equipped with modern HVAC systems. With the rapid economic growth, cities are expanding, which is leading to increasing infrastructure spending to sustain the booming urban population. For instance, $23 billion are being spent to construct Riyadh Metro, which will have six lines and 85 stations. Similarly, Jeddah Metro will have 46 stations across three lines. HVAC systems are one of the biggest requirements at metro stations, underground tunnels, and inside trains, which is why the demand for suc...

The ability of smartphones and various other smart devices, such as smart televisions (TVs), tablets, laptops, gaming consoles, and set-top boxes, to access high-speed internet has brought a large number of users closer to online content. In addition, these devices provide convenience and are usually equipped with various advanced features, such as the ability to stream and download high-quality content. Moreover, with smart devices becoming affordable rapidly, consumers can easily access OTT content. Additionally, the average time being spent by people on smart devices is rising sharply, as people are spending more time using different applications on various smart devices. Furthermore, with the advent of advanced technologies, such as optical fiber, 4G/LTE, and 5G and improving network coverage, the consumption of data across the world is soaring. This is subsequently propelling the demand for OTT services, thereby causing the expansion of the global over-the-top (OTT) services marke...

The soaring need for effective cabling management in the telecom industry is another important structured cabling market growth driver. Structured cabling enables easier cabling management, as it can be managed and deployed without requiring the assistance of a large staff. Moreover, structured cabling helps businesses, government agencies, and data centers save cost and time, as it is a more standardized and organized method of deploying cables as compared to the conventionally used patch cords. Depending on product, the structured cabling market is divided into copper components, copper cable, fiber components, and fiber cable. Out of these, the copper cable category dominated the market in 2019, because of the lower price of copper cables than fiber cables. Additionally, the growing use of copper cables in emerging economies is predicted to drive the progress of the category in the coming years. The application segment of the market is divided into the data center and local area net...

A number of factors, such as the rising shift of enterprises from homogeneous model to a hybrid network model, increasing adoption of advanced technologies, such as cloud computing and internet of things, accelerating adoption rate of industrial automation solutions, and surging awareness among businesses regarding cyberattacks, are projected to fuel the security policy management market at a CAGR of 9.1% during the forecast period (2019–2024).  The market was valued at $1,622.3 million in 2018 and it is expected to generate $2,647.1 million revenue by 2024. The surging preference for hybrid network models over homogeneous models among enterprises is expected to drive the security policy management solutions demand worldwide. This shift can be attributed to the accelerating digitization rate, the surging volume of data being generated, and the increasing adoption of wireless network infrastructure.  Deployment of security policy management solutions over a hybrid network help...

The surging use of near-to-eye (NTE) devices is also creating an extensive requirement for microdisplays worldwide. At present, consumer electronic product manufacturers are increasingly manufacturing microdisplays equipped with NTE-device-based applications, such as HUDs, augmented reality (AR)/VR, full-color projection devices, mobile phones, and cameras to meet the high-volume demand for such devices from several end-use industries.  For instance, the media and entertainment and gaming industries are creating a huge demand for NTE-enabled AR/VR devices, whereas, the automotive and military sectors are adopting an enormous volume of HUDs. The product type segment of the microdisplay market is categorized into NTE device, projector, HUD, and others, such as rifle scopes, thermal imaging glasses, and monocular and binocular systems. Among these, the HUD category is projected to demonstrate the fastest growth during the forecast period, owing to the surging public awareness about ve...

To cater to the needs of end users, Ciena Corporation, Samsung Electronics Co. Ltd., China Mobile Ltd., KT Corporation, American Tower Corp., Hewlett Packard Enterprise Development LP, Airspan Networks Inc., Cisco Systems Inc., NEC Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Affirmed Networks Inc., Telefonaktiebolaget LM Ericsson, and others are introducing new and advanced solutions and collaborating with other organizations to offer a strong 5G infrastructure. For instance, in June 2019, AT&T Inc. entered into a collaboration with International Business Machines (IBM) Corporation to provide edge computing and wireless 5G networking for business entities. The end user segment of the 5G infrastructure market is categorized into government, commercial, residential, and industrial. Among these, the industrial category is projected to witness the fastest growth during the forecast period, owing to the increasing advancements in IoT technology and expanding opportunities ...

A number of factors such as booming requirement for high bandwidth, escalating need for effective cable management, and surging data center sector are expected to drive the Indian structured cabling market at a CAGR of 11.5% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $508.0 million in 2020 and it is projected to reach $1,504.9 million by 2030. Moreover, the market is witnessing a trend of rapid digitization in India. One of the primary factors for the market growth is the burgeoning demand for high bandwidth, owing to the surging penetration of internet in Indian. Structured cabling enables high bandwidth, which has become a necessity for smooth operations in business organizations. This demand is rising at a rapid pace, owing to the high data transfer capability, flexibility, and low cost of the structured cabling. As it is the basis of efficient IT infrastructure, this type of cabling is getting attention from the government...

All these large enterprises and small- and medium-sized enterprises (SMEs) use case management, transaction screening and monitoring, regulatory reporting, and know your customer (KYC)/customer due diligence (CDD) solutions to identify potential digital frauds and mitigate money laundering cases. As per requirement, these solutions can be deployed on their own IT infrastructure or on the cloud. Moreover, to complement such software, managed and professional services are provided by AML companies. Globally, North America accounted for the largest share in the anti-money laundering market in 2020 due to the increasing integration of advanced technologies, such as machine learning and artificial intelligence, in AML solutions and increasing internet penetration in Canada and the U.S. As per the International Telecommunication Union (ITU), 97% of the Canadian population and 89% of the U.S. populace were internet users in 2019. Additionally, the presence of a large number of market players...

The type segment of the chiller market is classified into absorption, centrifugal, reciprocating, scroll, and screw. Among these, the scroll category generated the highest revenue in 2019 due to the burgeoning demand for low-cooling-capacity chillers from the hospitality sector and commercial buildings, including offices. This category is further bifurcated into air-cooled and water-cooled. Of these, the air-cooled category accounted for the larger market share during the historical period (2014–2019) because it is not feasible to use water to cool low-capacity scroll chillers. These machines are used in the automotive, pharmaceutical, textile, electronics, food and beverage, chemical and cement, and energy and utilities industries. Furthermore, the hospitality, transportation, healthcare, residential, and government sectors procure them in large numbers.  Other users of chillers include offices and buildings, department stores, supermarkets/hypermarkets, convenience stores, data c...

Presently, cloud software is the major mPOS terminals market trend because it enables users to significantly reduce their IT expenditure. As no additional infrastructure needs to be installed for the usage of cloud software, the initial investment is reduced. Moreover, cloud storage can be increased or decreased at will, which offers business scalability. Additionally, cloud software can be accessed from anywhere, at any time, from any internet-connected device, which might be of great help during home deliveries, when salespersons need to carry the mPOS terminal with them. The strongest factor propelling the mPOS terminals market growth is the constant rise in the volume of cashless transactions. Governments around the world are encouraging such transactions as they help save paper money and allow income tax departments to keep a tab on spending anomalies. Moreover, such payments allow people to complete the transaction from wherever they are, without having to stand in long queues. ...

According to P&S Intelligence, the North American corporate telephony market accounted for the largest share in 2020, globally. This was mainly due to the presence of several major industry players, surging adoption of unified communication systems by several organizations, increasing deployment of conference calling and desk-to-desk calling solutions, large number of end users, mounting competition among the players, and rising investments by the IT and BFSI industries in these solutions in the region. Based on technology, the corporate telephony market is classified into internet protocol-private branch exchange (IP-PBX), wireless private branch exchange, key telephone system, and others. The IP-PBX category is expected to witness significant growth during the forecast period.   This can be ascribed to the several advantages offered by the IP-PBX technology, such as lower operating costs, increased agility, high quality of communication, flexible call routing, and robustness...