Chatbot Market to cross $1.34bn by 2024

​The Chatbot Market is set to grow from its current market value of more than $250 million to over $1.34 billion by 2024; driven by advancements in AI, NLP and cloud computing technologies and emergence of messaging platforms.

In the trending era of artificial intelligence, chatbot market is witnessing extraordinary growth owing to the prevalence of messaging platforms, virtual assistants and the efforts of various businesses to deliver prompt customer service. Built using AI and machine learning technologies, today’s chatbots are characterized by the ability to respond differently to varied keywords, even learn and adapt their own responses to suit diverse situations. These features have proven to be ideal in leveraging the bots for real-time communications, handling customer enquiries and other aspects of businesses to optimize overall customer satisfaction, pushing the global chatbot market revenue over USD 250 million in 2017.

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An undeniable fact regarding AI technology is the prolific speed of its evolution, which in the process is transforming the chatbot industry. From the basic rule-based chatbots programmed to handle uncomplicated customer queries to the cloud-based, advanced self-learning ones that can understand intent and modify their output, chatbots have been extensively adopted in segments such as ecommerce with continuous integration of business data and internal systems.

For instance, eBay offers the services of ShopBot, a virtual personal assistant for shopping on its online platform that helps customers find desired products. A customer has to type in a short description of what they want after which eBay ShopBot will ask relevant questions and display suitable results.

Reportedly, ShopBot users are three times more likely to search specific products than those just browsing through the website. Similar AI powered bots have been implemented worldwide across other online stores, travel & hotel booking establishments, personal care businesses and even fast-food chains through website windows and inbuilt chatbot features of Facebook Messenger, WeChat and other messaging platforms. Application of these assistive chatbots has delivered improved engagement and is driving the sales numbers in variety of industries, further boosting the chatbot market.

According to a report on chatbot market published by Global Market Insights, Inc., customer service is the highest contributing segment with a 42.52% share. This can be derived from the significance of customer service in retaining existing and attracting new potential customers, with the growth of industries like healthcare and BFSI dependent on consumer feedback and brand visibility. Chatbots enable personalized services, less waiting time, uninterrupted customer support and a feedback channel to a large number of customers, guaranteeing consumer satisfaction aimed at by these industries. Reportedly, the banking sector spends almost USD 150 million annually on customer service and the increasing use of bots for automated service will bolster the overall chatbot market.

Elaborating on the advantages of chatbots in banking, highly targeted and personalized products can be delivered to customers at the right time depending on their profile data through chatbots built in messaging apps, thus acting as a lead generation tool. A leading example is Erica, the chatbot and virtual assistant for the Bank of America that analyzes customer data to help its customers make smarter decisions. Erica provides balance and credit reports, sends notifications, suggests saving schemes, assists with transactions and makes paying bills easier. Many other banks have adopted such AI based bots and given an impetus to the chatbot industry.

Apart from its role in ecommerce, BFSI and other similar industries, the chatbot market can be expected to penetrate into medical assistance and patient care applications as well. In addition to the common uses of chatbots in booking appointments and making payments, other uses arising from the advent of technologies like AI, machine learning and NLP have been found. These include detection of medical conditions by knowing the symptoms, suggesting medicines & treatments along with other assistive healthcare features.

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One such innovative patient care product using NLP is the companion chatbot by Russian based company Endurance, which is designed to chat with Alzheimer’s patients who are afraid to converse with other people and suffer memory losses. The bot will identify any deviation in the conversations that could indicate a problem and being cloud-based, it can communicate the logs and findings with relatives and doctors.

As evident from the wide range of applications for chatbot market, AI is not only beneficial to IT corporations anymore and many multinational companies are investing heavily into R&D. The sprinting AI industry is allowing the development of more efficient and intelligent bots capable to chat with thousands of customers at a time with 24 hrs. support and client-specific responses.

The increasing demand for smartphones and the tremendous use of messenger apps has supplemented the proliferation of chatbot market, especially in countries like India and China which have defined Asia-Pacific as the fastest growing region in the segment. With the growing preference towards faster customer service and acceptance of AI based tools in business operations throughout the region as well as globally, the global chatbot market is slated to witness a CAGR of 31% from 2018 to 2024.

Report Content

Chapter 3. Chatbot Market Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2013 – 2024

3.4. Industry ecosystem analysis

3.5. Industry evolution

3.6. Industry architecture

3.7. Chatbot Vs virtual assistant

3.8. Market news

3.9. Regulatory landscape

3.9.1. General Data Protection Regulation (GDPR)

3.9.2. China Data Privacy Standard

3.9.3. California Online Privacy Protection Act (CalOPPA)

3.9.4. Personal Data Protection Act 2012

3.9.5. German Bundesdatenschutzgesetz (BDSG)

3.9.6. Federal Information Security Management Act (FISMA)

3.10. Technology & innovation landscape

3.10.1. Technological advancements in AI

3.10.2. Advancement and innovation in NLP

3.10.3. Pattern recognition and image detection

3.10.4. Predictive analytics

3.11. Industry impact forces

3.11.1. Growth drivers

3.11.1.1. Enhanced customer service

3.11.1.2. Emergence of messaging platforms

3.11.1.3. Reduction in chatbot development costs

3.11.1.4. Increasing usage of chatbots for marketing and sales

3.11.1.5. Capital investments in chatbot technology

3.11.1.6. Increasing use of chatbots in e-commerce sector

3.11.1.7. Advancements in AI, NLP and cloud computing technologies

3.11.2. Industry pitfalls & challenges

3.11.2.1. Lack of awareness among businesses

3.11.2.2. Security and privacy issues

3.11.2.3. Dialects, question formation and speech recognition

3.11.2.4. Not for every business

3.12. Growth potential analysis

3.13. Porter’s analysis

3.14. PESTEL analysis

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Smart Grid Market to grow at 11% CAGR by 2018 to 2024

​The technology research report “Smart Grid Market Size By Technology (Smart T&D Equipment, Distribution & Network Automation, Advanced Metering Infrastructure, Consumer Interface, Communication & Wireless Infrastructure), By Deployment(Generation, Transmission, Distribution, End-Use), By Service (Consulting, Deployment & Integration, Support & Maintenance), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Sweden, Denmark, Netherlands, Belgium, Spain, China, India, Japan, Australia, South Korea, Saudi Arabia, UAE, South Africa, Brazil, Chile. Columbia), Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says Smart Grid Market to surpass USD 70 Billion by 2024; driven by increasing need to digitalize the power sector.

Ambitious government led plans toward grid modernization will drive the smart grid market size. Major countries have enforced regulations and mandates to reinforce smart grid deployments and R&D activities as a part of their energy conservation initiatives. In 2016, global investments in digital electricity infrastructure reached over USD 45 billion to enhance the resiliency, reliability, and security of the grid. Increasing government focus toward grid restructuring to mitigate integration challenges, overutilization, and load mismatch will further boost the industry growth.

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The U.S. smart grid market was estimated over USD 3 billion in 2017. Frequent blackouts and the incessant need for energy conservation will augment the industry landscape. Implementation of grid automation programs to reinforce communication flexibility and distributed intelligence of the national power infrastructure will further fuel the industry growth. For instance, the Public Service Electric and Gas Company (PSE&G) invested USD 69 million in 2017 to boost consumer energy efficiency through smart thermostat and residential data analytics programs.

Communication and wireless infrastructure smart grid market is anticipated to expand over 20% by 2024. Increasing need for IoT intervention to improve grid efficiency, customer services and demand management across power utilities will boost the product demand. Digitalizing the grid using advanced cloud computing technology and sensors aids in monitoring consumption patterns and provides real time information on electricity usage. The use of control systems for several applications including substation automation, distribution automation, advanced outage management, and demand-side management is further strengthening the product demand.

UK smart grid market will witness growth on account of supportive regulatory frameworks pertaining to energy conservation and environmental sustainability. The mandated nationwide rollouts and legislative directives toward smart meters will further fuel the industry growth. The Energy Networks Association (ENA) plans to implement a local energy market as part of their smart grid plan that would allow business and households to trade electricity, thereby supporting energy conservation.

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China smart grid industry is set to expand over 11% by 2024. Introduction of government initiatives to increase the share of renewables in the existing generation mix and develop green infrastructure will fuel the business growth. The government aims at increasing the share of renewables in the existing generation mix to 15% by 2020 and 20% by 2030.

Growing investments toward grid digitalization through the implementation of advanced communication technologies will foster the market. Growing focus toward renewable grid integration coupled with intensifying need to upgrade ageing electricity infrastructure will further facilitate the large-scale deployment of these grids.

Key industry participants in the smart grid market include Hubbell, ABB, Schneider Electric, General Electric, Fujitsu General, Belden, Oracle Itron, Landis+Gyr, Cisco, Siemens, IBM, Honeywell Elster, Wipro.

Smart grid market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2013 to 2024, for the following segments:

By Technology

  • Smart T&D Equipment
  • Distribution & Network Automation
  • Advanced Metering Infrastructure
  • Consumer Interface
  • Communication & Wireless Infrastructure

By Deployment

  • Generation
  • Transmission
  • Distribution
  • End Use

By Service

  • Consulting
  • Deployment & Integration
  • Support & Maintenance

The above information is provided on regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Spain
    • Italy
    • Denmark
    • Netherlands
    • Belgium
    • Sweden
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
  • Latin America
    • Brazil
    • Chile
    • Columbia

Browse key industry insights spread across 250 pages with 256 market data tables & 29 figures & charts from the report, Smart Grid Market in detail along with the table of contents:

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Blockchain Market to grow at 75% CAGR from 2018 to 2024

​The technology research report “Blockchain Market Size By Providers (Infrastructure Provider, Application Provider, Operators), By Application (Smart Contract, Payment & Wallet, Digital Identity, Exchange, Compliance & Risk Management), By End-use (BFSI, Government, Healthcare, IT Service, Media & Entertainment, Transportation & Logistics), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Switzerland, Australia, China, India, Japan, South Korea, Singapore, Brazil, Mexico, Israel, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says Blockchain Market to exceed USD 16 billion mark by 2024; driven by growing adoption of distributed ledger among banking and financial institutes.

The increasing investment by the venture capitalists in the blockchain technology is a major factor propelling the market growth. A glut of investor interest has led to the explosion in the blockchain market space. In 2017, approximately USD 1 billion investment in the blockchain start-ups with more than 185 deals across the globe has been witnessed. The number has significantly increased from the USD 545 million investment with more than 135 deals in 2016. This encourages the development of the cutting-edge technology and accelerates the adoption among the industry verticals.

The growing trend of Initial Coin Offering (ICOs) also supports the blockchain market growth. The blockchain companies started to offer ICOs as the sale of coins & tokens and to raise funds. In 2017, the initial coin offerings have raised more than USD 2 billion with over 250 ICOs across the globe. This token can be subsequently traded on the cryptocurrency exchanges. It provides an early access to the potential blockchain protocols and applications. This is encouraging the investors to invest in ICOs.

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The smart contract is also one of the prominent applications of the blockchain market and is estimated to grow at a CAGR of over 80% during the forecast period. Smart contract assists organizations and individuals conduct transactions of property, money, and shares in a conflict-free and transparent manner, eliminating the services of middlemen. It offers parties involved in the agreement with autonomy, safety, backup, speed, and accuracy. The smart contracts can be implemented on distributed ledger or non-distributed ledger systems. Blockchains are a form to distributed ledger systems, which make it impossible for a single party or a group to reverse the transaction once recorded in the database, eliminating the need for intermediaries to authenticate and settle transactions.

The government sector is anticipated to grow significantly during the forecast period with a CAGR of more than 85% during the forecast timeline. The blockchain market growth is driven by numerous benefits offered by the technology. The blockchain offers three value propositions for enterprises, recordkeeping, value transfer, and smart contracts. It provides a unique & non-corruptible record management system that tracks and validates changes. It can also reduce the number of intermediaries and increase the trust between the transacting parties, increasing the efficiency and reducing the time& cost to process.

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The Asia Pacific blockchain market is estimated to attain a noteworthy growth with a CAGR of over 87% during the forecast timeline. The market is driven by increasing investments in the blockchain technology by venture capitalists. The government initiatives and policies are also augmenting the demand for the blockchain technology in the region. Furthermore, increasing number of the blockchain start-ups and ICOs in the region also propels the blockchain market share.

The key vendors of the blockchain market are IBM, SAP, Ripple, R3, Microsoft, Abra, Alphapoint, Amazon Web Services, Asta Solutions, Bacoor, Bitfury, BitSE, Blocko, Blockstream, Bloq, BTL Group, Chain, Coinbase, Digiledg, Digital Asset Holding, and Earthport. The market is characterized to be highly fragmented due to the presence of both multinational companies and regional start-ups. The players are leveraging on the partnership and collaboration strategies to expand their product portfolio and increase their customer base. For instance, in 2016, the Chain, Inc. collaborated with the Visa, Inc., a global payment platform provider, to develop blockchain based cross-border payment solutions for the enterprises. Similarly, Peer Ledger partnered with SAFE- BioPharma association to develop the blockchain based solutions to enhance the health transaction security and protect the patient’s identity using the identity bridge product.

Blockchain market research report includes an in-depth coverage of the industry with estimates & forecast revenue in USD from 2016 to 2024, for the following segments:

Blockchain Market, By Providers

  • Infrastructure providers
  • Application providers
  • Operators

Blockchain Market, By Deployment

  • Smart contract
  • Payment & wallet
  • Digital identity
  • Documentation
  • Exchanges
  • Compliance & risk management

Blockchain Market, By Technology

  • BFSI
  • Government
  • Healthcare
  • IT service
  • Media & entertainment
  • Transportation & logistics

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Switzerland
  • Asia Pacific
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Israel
    • UAE
    • South Africa

Browse key industry insights spread across 180 pages with 132 market data tables & 39 figures & charts from the report, Blockchain Market in detail along with the table of contents:

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Automotive Cybersecurity Market to reach $837.1mn by 2024

​The technology research report “Automotive Cybersecurity Market Size By Security (Hardware Security, Software Security, Network Security, Cloud Security), By Type (Passenger/Consumer Vehicles, Commercial), By Application (On-board Diagnostic [OBD], Communication, Safety Systems, Infotainment, Telematics), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Sweden, Norway, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says Automotive Cybersecurity Market to exceed USD 837 million by 2024; driven by increasing requirement for cybersecurity in connected cars.

Improvements in the standard of living and increased disposable income have caused a shift toward the adoption of advanced vehicles offering various benefits such as in-car infotainment systems, navigation, and telematics. As these systems have become increasingly complex, they are more vulnerable to cyberattacks, contributing to the automotive cybersecurity attacks. The government agencies are also partnering with software providers for telematics cybersecurity solutions driving the automotive cybersecurity market growth. For instance., in May 2018, the Department of Homeland Security Science and Technology Directorate (DHS S&T) partnered with Volpe National Transportation Systems a part of Department of Transportation (DOT), to build a cybersecurity implementation and operational network for telematics systems in various federal vehicles.

The automotive cybersecurity market is benefiting from the investments made by the leading investors, who support automotive firms. These funds are used by the companies to scale up their cybersecurity profile, fighting against the rising cyberattacks. For instance, in April 2018, Denso an international American firm invested USD 2 million in Dellfer, an automotive cybersecurity company. The company plans to use the funding to enhance its operations in the cyber protection of automobiles.

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Cloud security is the fastest growing segment in the automotive cybersecurity market and it is projected that by 2024, approximately 30% of the vehicles globally will be deployed with cybersecurity cloud services. They examine and manage the fleets of vehicles through software such as management service, which enables them to assess the irregularities and identify unauthorized efforts to attack the connected vehicles. The automotive industry is making huge investments in the cloud technology to secure the automotive cloud environment. For instance, in May 2016, Ford invested USD 182.2 million in Pivotal to use its cloud-based technology in Ford’s auto and mobility services.

The software security segment in automotive cybersecurity market is projected to grow at a CAGR of 24.5% over the forecast period. The proliferation of ECUs in the automobiles has also increased the attack surface making vehicles easily accessible to attackers. There are a large number of ECUs with different capabilities in the automobiles, making them necessary to provide software security to these systems.

The commercial vehicle segment in automotive cybersecurity market is expected to grow at a CAGR of 34.5% over the forecast timeline as these vehicles play a major role in delivering the country’s goods and services and hence, protecting them from the rising cybercrime is a necessity. These vehicles also use relevant technologies to extend their connectivity and assist the businesses to enhance their working efficiency. It helps them in reducing fuel costs and increasing vehicular productivity boosting their demand.

The On-board Diagnostics (OBD) automotive cybersecurity market application segment is projected to grow at a CAGR of 31.7% over the forecast timeframe due to the rising advent of smartphones and enhanced miniaturization. The vehicle aftermarket manufacturers and startups attach these devices to the on-board diagnostic port present in the connected cars. As these OBD ports provide direct contact to the Controller Area Network (CAN) bus, it is necessary to protect these ports from cyber attackers. Furthermore, with the usage of these ports in various applications such as fleet management, consumer vehicle diagnostics, and mile-based insurance, the automobile providers should perform early security investigation of these devices to regulate their common vulnerabilities and control security risks.

The infotainment application is anticipated to reach an automotive cyber security market revenue of USD 83 million by 2024 as they deliver major benefits such as audio/ video calling, navigation, live music streaming, Bluetooth and USB connectivity, Wi-Fi, and in-car internet. These systems have access to more and more vehicle functions, making them more vulnerable to the cyberattacks. Various automobile firms are entering into strategic partnerships to secure their connected cars. For instance, in January 2018, Argus Cyber Security partnered with STMicroelectronics to upgrade the cybersecurity measures of connected vehicle technologies.

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North America dominates the automotive cybersecurity market due to the rising collaboration between the automotive manufacturers and software providers to enhance their connected car safety and security. For instance, in January 2018, Honeywell entered into a memorandum of understanding with LG Electronics to develop an automotive software and infrastructure to address the rising risk associated with the connected vehicle technology. Furthermore, the U.S. and Canada are the main contributors of new automobiles deployed with the latest technologies, driving the automotive cybersecurity market growth.

The Asia Pacific automotive cyber security market is projected to grow at a CAGR of 33.3% over the forecast period due to the increasing demand for connected vehicles in this region. Increasing investments to develop advanced in-car services and connectivity infrastructure are also driving the automotive cybersecurity market demand. Moreover, increasing research in the fields of malware detection and improved software in connected vehicles are also contributing to the growth.

Various companies operating in the software and automobile industries are entering into strategic partnerships and collaborations to develop advanced automobile solutions, showcasing tremendous growth opportunities in this sector. The prominent vendors present in the automotive cybersecurity market include Audi, General Motors, Ford, BT Security, Daimler Trucks, Arilou Technologies Ltd., Argus Cyber Security Ltd., BMW, Honda, Nissan, Cisco Systems, Inc, Tesla Motors, Lear Corporation, Continental AG, Karamba Security, Volvo Car Group, and Symantec Corporation.

The automotive cybersecurity market research report includes an in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2014 to 2024, for the following segments:

Automotive Cyber Security Market, By Security

  • Hardware Security
  • Software Security
  • Network Security
  • Cloud Security

Automotive Cyber Security Market, By Type

  • Passenger/Consumer Vehicle
  • Commercial Vehicle

Automotive Cyber Security Market, By Application

  • On-board Diagnostic (OBD)
  • Communication
  • Safety Systems
  • Infotainment
  • Telematics

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Norway
  • APAC
    • China
    • Japan
    • ANZ
    • South Korea
    • India
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • GCC
    • South Africa

Browse key industry insights spread across 300 pages with 273 market data tables & 51 figures & charts from the report, Automotive Cybersecurity Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-cybersecurity-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
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Global Market Insights, Inc.
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Hybrid Power Solutions market in commercial segment to grow at 8% CAGR from 2018-2024

​The technology research report “Hybrid Power Solutions Market Size By Technology (Solar-Wind-Diesel {Residential, Commercial, Industrial}, Solar-Wind {Residential, Commercial, Industrial}, Solar-Diesel {Residential, Commercial, Industrial}, Wind-Diesel {Residential, Commercial, Industrial}, Others {Residential, Commercial, Industrial}), By Product (Standalone, Grid Connected), By End Use (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Caribbean, U.K, Germany, China, India, Australia, Japan, Maldives, Indonesia, Philippines, New Zealand, Taiwan, Sri Lanka, Brazil, Chile), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says Hybrid Power Solutions Market to exceed USD 60 Billion by 2024; driven by enhanced power quality and security of supply.

Growing demand for reliable and uninterruptible power coupled with increasing focus toward the grid integration of renewable energy will boost the hybrid power solutions market. Favourable initiatives to promote renewable energy along with the growing demand for decentralized power generation systems will augment the business landscape. In 2015, ABB and Vestas have introduced Wind for Prosperity initiative across remote areas of Kenya to ensure the clean power generation through Wind-Diesel technology.

U.S. hybrid power solutions market has witnessed the cumulative capacity generation of 900 MW by 2024. Schemes including FIT, carbon credit, and green bonds have provided an impetus toward the installation of wind-solar plants, which will further complement the hybrid power solutions market hybrid power solutions market outlook. In 2018, Kauai Island Utility Cooperative (KIUC) has announced the deployment of solar storage hybrid project which will reduce the utility’s peak fossil fuel generation by 55 MW.

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Ambitious renewable energy (RE) capacity addition targets coupled with the abundant availability of solar and wind energy will drive the hybrid solar wind market growth. Technological advancement coupled with introduction of norms to reduce carbon footprints will stimulate the business growth. In 2017, Vestas announced the development of world’s largest utility-scale solar-wind project comprising of 43.2 MW of wind and 15 MW of solar capacity.

Standalone hybrid power solutions market is set to grow on account of rising demand for reliable and safe electricity supply primarily across remote off-grid areas. In 2017, Juhl energy announced the development of community based solar-wind hybrid project in U.S. with an overall capacity of 4.5 MW. Growing demand for renewable energy, the need for improving grid reliability and stability, and low installation costs are some of the prominent features that make its adoption viable.

UK hybrid power solutions market is predicted to grow over 5% by 2024. Government focus toward raising the dependency on sustainable and effective power generation to achieve green energy economy structure will positively impact the hybrid power solutions market growth. Developers across the region are working aggressively toward the enhancement of CUF for their existing power plants. In 2016, Ecotricity announced plans for three new hybrid renewable energy parks that will be generating electricity with a mix of wind and solar energy with overall capacity of 5 MW. The company is approaching 100 MW generation from solar-wind technology by adding green gas mills as a part of new blueprint for Britain.

China hybrid power solutions market is anticipated to grow over 3% by 2024. Growing funding toward the deployment of clean energy sources to reduce carbon footprints along with introduction of various targets to overcome the rising electricity demand will embellish the industry growth. In 2015, the government of China has introduced a solar wind system, with an overall capacity of 300 MW that aims to meet the electricity demand by serving 2000 people across the region.

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Declining manufacturing costs of wind turbines, wind blades and solar panels owing to advancement of technology and economy of scale will drive the hybrid power solutions market. In 2016, the average nominal cost for the installation of small wind turbine was recorded from 7000 USD/kW to 7500 USD/kW. In 2016, the cost of PV module has witnessed a decline of 0.5% when compared to 2013.

Key industry participants in the hybrid power solutions market include Blue Pacific Solar, General Electric, Gamesa Wartsila, Zenith Power Systems, Polar Power, Unitron Energy, VONK, Star Sight, Danvest, Vestas, Alpha Windmills, Grupo Dragon, BWSC, FlexGen, A123 systems, Tesla Windlab and Sterling & Wilson

Hybrid power solutions market research report includes in-depth coverage of the industry with estimates & forecast in terms of MW and USD from 2013 to 2024, for the following segments:

Hybrid Power Solutions Market, By Product

  • Standalone
  • Grid-Connected

Hybrid Power Solutions Market, By End-Use

  • Residential
  • Commercial
  • Industrial

Hybrid Power Solutions Market, By Technology

  • Solar-Wind-Diesel
    • Residential
    • Commercial
    • Industrial
  • Solar-Wind
    • Residential
    • Commercial
    • Industrial
  • Solar-Diesel
    • Residential
    • Commercial
    • Industrial
  • Wind-Diesel
    • Residential
    • Commercial
    • Industrial
  • Others
    • Residential
    • Commercial
    • Industrial

The above information is provided on regional & country basis for the following:

  • North America
    • U.S.
    • Canada
    • Caribbean
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Maldives
    • New Zealand
    • Philippines
    • Indonesia
    • Sri Lanka
    • Taiwan
  • Middle East & Africa
    • South Africa
    • Nigeria
    • Tanzania
    • Egypt
    • UAE
  • Latin America
    • Brazil
    • Chile

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Version Control Systems Industry analysis research and trends report for 2018-2024

​According to new Global Market Insights, Inc, technology research report Version Control Systems Market to driven by the increased adoption of mobile applications. These applications require back-end activities to track source code changes & ensure the ease of management. The version control system assists developers to keep a record of all modifications and enables comparisons with previous files. It also eliminates the need for manually managing and tracking the changes in the file and data and simplifies the software development process.

The technological advancements in automation and digitalization to minimize human-associated errors have fueled the growth in version control system market. The human error is a major factor leading to accidents and failures in the industry, leading to increased expenditure and irrevocable capital losses. Furthermore, the increasing demand for user-friendly solutions and ease of operations have increased the demand for automated software solutions and tracking tools.

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The numerous benefits including interoperability, portability, and auditing will augment the demand for version control systems market. The version control systems can be integrated with IDEs, allowing the developer to use a software from the same tool they are working on. The control system maintains a metadata for every change in the system, making it easy for the auditor to audit the data as it is readily available. The system can be used on multiple platforms and to support a broader customer base.

Majority four types of framework are present in the version control systems market: Concurrent Versions System (CVS), Apache Subversion (SVN), and Git, Mercurial. CVS handles branching projects, so that the developed project can diverge into multiple products with distinct features. CVS also manages conflicts between two developers and allows the latest version of the code to be worked on & updated.

Apache Subversion (SVN) is an alternative for CVS to fix bugs in the CVS system. The SVN prevents the database from being corrupted by employing atomic operations. SVN allows all the changes to be made at the source and prevents any partial changes from breaking the original source code. Mercurial distributed version control system allows non-core developers easier access to create new branches of source code & to revert changes. Mercurial’s incompatibility with multiple parents is its drawback.

Various types of version control systems are local, centralized, and distributed. Developers use local version-control method as it facilitates easy file transactions across multiple directories. Local version control systems are error prone due to sophisticated maneuverability functionalities.

The centralized segment allows developers to collaborate with developers on other systems. In centralized control systems, all versioned files are stored on a single central server. The centralized version control systems store the entire data in the central database, which serves as a sole point of failure. Thus, a failure in the central server could result in the loss of entire data across the system. The distributed version control system stores the data on multiple servers (client repositories) so if the server is corrupted, then the data can be restored from the client repositories.

The version control systems market has found applications in Information & Technology (IT), telecommunications, and BFSI sectors. The version control systems are used for source code & document management and for the development of open source and standalone applications. The version control has also been used for tracking changes across the multiple managed entities.

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Various applications of version control systems market are file locking and version merging. The file locking prevents concurrent access to central repository. This protects the file against merge conflicts. The version merging allows multiple edits to a file simultaneously. The system also manages multiple changes in the central repository, preserving various changes from multiple developers.

The North American version control systems market is driven by the early adoption of version control platforms. The companies, such as Git and Perforce, have invested heavily in the development of advanced version control systems, fostering the market growth. Asia Pacific version control systems market is driven by the increasing adoption of version control platforms by SMEs in countries including China and Japan. The rapidly-growing IT industry in countries including India has also fostered the demand for the systems.

The prominent venders of the version control system market are Microsoft Corporation, Apache Software Foundation, Perforce, Git, Mercurial, Canonical Ltd., WANdisco, and IBM. The major companies operating in the market are focusing on forming partnerships, mergers & acquisitions, and new product development to gain a competitive edge over the competitors. For instance, Perforce Solutions, a global provider of productivity-based enterprise solutions acquired Programming Research Ltd., a leading provider of enterprise grade static code analysis based in the UK. This acquisition was aimed at strengthening its product portfolio. Similarly, WANdisco, the live data company launched it sales partnership with Alibaba cloud to increase its customer base in foreign markets.

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Haptic Technology Market 2024: Opportunity and Demand Analysis, 2018-2024

​According to new Global Market Insights, Inc, technology research report Haptic Technology Market to witness significant growth from 2018 to 2024 driven by its increasing use in touch screen systems. Most consumer electronic devices such as cell phones, laptops, and public display systems provide touch-enabled displays. Growing consumer preference for using highly-advanced technical devices, such as 3D touchscreens, virtual gaming objects, and interactive kiosks, is increasing the haptic technology market demand. The implementation of the technology is done by manufacturers to maintain a competitive advantage over the rivals in this industry. This technology provides several advantages such as enhanced user experience, tactile feedback, and a feel of a realistic and immersive environment. For instance, in gaming applications, the user is able to experience the recoil from a gunshot or car collision, providing a better user experience.

The rising consumption of digital interfaces incorporating these technologies is driving the haptic technology market growth. In commercial settings, the interface reduces the need for office supplies. These technologies provide users with immediate information and allow them to modify the behavior to cater to the various tasks such as ledger keeping and data analyzing more efficiently. Training workers on the operation of new technologies is an important and tedious task for organizations. These systems aid in reducing the efforts and the time required for training due to their easy adaptability and usage.

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A major trend impacting the haptic technology market is the implementation of the 3D touchscreen with haptic feedback. For instance, Microsoft has developed devices incorporating these technologies along with 3D screens, which can provide feedback to operators and give them the ability to push 3D objects around in a virtual space. The trend of manufacturing self-service kiosks by implementing these technologies will aid in increasing the usability of touch senses in the kiosks. Advanced electrostatics is used to create movement sensations on kiosk touch screens, eliminating the need for movable components such as servers & scanners and suitable for all screen sizes and types. The implementation of IoT systems with these components is an advanced technical trend in the haptic technology market owing to its use in eccentric rotating mass, linear resonant, and piezoelectric actuators. Apple’s Taptic Engine, which is an IoT system based on the LRA technology provides a localized experience for improving users’ touch on the keyboard.

Tactile feedback segment in the haptic technology market has witnessed high revenue and growth prospects in the recent years. This is attributed to the rising implementation across several consumer electronics devices such as smartphones, tablets, and laptops. Additionally, increasing usage in various other applications such as wearables, gaming, healthcare, and automotive products is fueling the demand. Force feedback segment in the industry is predicted to witness steady growth due to the ability of the system to receive feedbacks from the various inputs given by the user to eliminate performance issues. These systems are applied in specialized devices such as gaming joysticks, virtual reality walls, and medical operation machines. For instance, in March 2015, Apple Inc. launched a new MacBook incorporating the haptic force feedback technology that allows the trackpad, touch sense recreation by vibration simulation.

The education segment is witnessing a rapid growth in the haptic technology market. The high growth is due to its implementation in conducting performing experiments such as understanding the the feel of tissues and visualizing the interaction of Nano-scale materials. These technologies are also used in educating visually-impaired students by providing study materials in electronic devices with haptic displays. The haptic technology market has growth opportunities in healthcare machines as doctors are able to navigate through and view the patient’s 3D brain scan. It is increasingly implemented in cases of perceptual deficiencies by health professionals and patients to alert them in performing necessary actions and can be used in both home and hospital settings.

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India, China, and Japan are expected to grow at high rates in the haptic technology market owing to the presence of a large number of consumer electronics manufacturers in these countries. A high demand in the Asia Pacific region is attributed to the increased buying power of customers in purchasing such products. The U.S. has dominated the haptic technology market due to the early adoption of advanced technologies and growing research and development practices related to these technologies. Growing number of automobile manufacturers in the country are increasing the technology consumption. These are used in vehicles that provide communication essential information to the driver at times of emergency situations and accidents. Additionally, this is used in creating non-visual communication and control systems in vehicles by improving the reaction time and providing necessary warnings. The increasing demand for automotive user interface in the U.S. that supports safe driving is creating large development opportunities for the haptic technology market. The ultrasonic mid-air advancement enables three-dimensional vehicle interaction, reducing the need for buttons, knobs, and screens.

Players operating in the haptic technology market include SMK Electronics, Immersion Corporation, Texas Instruments, Inc., Haption S.A., Force Dimension, and Geomagic, Inc. Companies have adopted strategies such as new product developments or innovations, mergers, acquisitions, collaborations, and partnerships to sustain the increasing competition in the haptic technology market. For instance, in May 2018, Immersion Corporation signed a licensing agreement with Panasonic to add haptics to automotive interfaces application, strengthening its hold in the haptic technology market.

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Industrial Control Systems Security Market to reach $7bn by 2024

​The technology research report “Industrial Control Systems (ICS) Security Market Size By Security Type (Network Security, Application Security, Endpoint Security, Database Security), By Component (Solution [Firewall, SCADA Encryption, Antivirus/Anti-Malware, Intrusion Detection & Prevention, Identity & Access Management {IAM}, Distributed Denial of Service {DDoS} Solution, Data Loss Prevention {DLP}, Virtualization Security, Security Information and Event Management {SIEM}, Unified Threat Management {UTM}], Service [Managed Service, Integration & Consulting, Audit & Reporting, Risk Management]), By Application (Power and Energy, Critical Manufacturing, Mining, Water Utility, Transportation, Chemical), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says ICS Security Market to exceed USD 7 billion by 2024; driven by increasing incidents of cyber-attacks on offshore industrial platforms and marine operations.

The ICS security market growth is attributed to the increasing incidents of cyber-attacks on critical infrastructure industries. Constantly evolving cyber threats, such as ransomware and viruses, can adversely affect production processes in critical infrastructure environments resulting in large-scale financial losses for the companies. The security concerns have increased considerably after the Industry 4.0 revolution as the tendency to connect ICS equipment to the internet has grown significantly in the industries. Also, government and industry initiatives to establish standards and regulations to ensure enhanced ICS security are expected to facilitate a robust growth of the ICS security market over the forecast timeline.

The endpoint security segment held a majority share of around 40% in the ICS security market in 2017 due to large-scale deployment of endpoint security solutions in critical industrial environments for securing different endpoint devices in the industrial networks that remain vulnerable to cyber threats. The network security market is projected to exhibit a robust growth with a CAGR of around 26% between 2018 and 2024 due to the increasing incidents of network breaches in critical industrial sectors leading to large-scale production losses for the enterprises as well as increased concerns for national security.

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The firewall segment dominated the market in 2017 and is expected to secure a significant share of the overall ICS security market by 2024 due to an extensive adoption of ruggedized firewalls for maintaining and managing network traffic in industrial infrastructure operating in harsh environmental conditions. Firewalls play a critical role in containing internal cyber incidents and blocking external threats that could heavily impact productivity, safety, and reliability. They manage the flow of communication and examine the data packets to ensure blocking of harmful network traffic. Hence, the adoption of firewalls for ICS security is likely to increase consistently over the forecast timeline.

The energy sector held a major share of nearly 40% in the ICS security market in 2017 and is expected to maintain this market dominance throughout the forecast period. The increasing incidents of cyber-attacks on the energy industry including gas pipeline infrastructure, oil & gas platforms, and power utility infrastructure are majorly contributing to the growing emphasis on securing critical energy production and distribution networks. Government agencies are taking appropriate measures to secure critical national energy infrastructure from terrorist attacks that could lead to a major economic loss.

North America held around 50% share of the ICS security market in 2017 and is projected to hold a significant share of the overall market between 2018 and 2024. With the availability of extensive industry standards, regulatory guidelines, and government initiatives in the U.S., the adoption of ICS security solutions is expected to grow in a structured manner across different industry verticals such as energy, advanced manufacturing, mining, and transportation. The National Cybersecurity and Communications Integration Center (NCCIC) under the U.S. Department of Homeland Security continuously strives to reduce the risk of cybersecurity challenges to the critical national infrastructure. With the consistent focus on maintaining a secure and robust cyber and communications infrastructure, such government agencies are encouraging the development of deploying advanced ICS security solutions.

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Companies operating in the ICS security market focus on product innovation and strategic collaborations for securing a competitive advantage. By monitoring and analyzing the number of vulnerable ICS components on a yearly basis, these companies develop appropriate solutions as well as updates to their existing solutions for ensuring effective security against the constantly evolving cyber threats. In February 2018, GE Digital entered into a partnership with NRI Secure Technologies, a cybersecurity firm in the U.S., wherein, NRI Secure was recognized as an accredited certification authority for GE Digital’s Achilles Communications Certification (ACC) program. Through the partnership, GE expanded its global OT network robustness certification program. In February 2017, Rockwell Automation teamed up with industrial security company Claroty to develop its anomaly detection software that is purpose-built for industrial network security. It creates an inventory of network assets and monitors traffic between them to detect and report anomalies. Through such strategic collaborations and partnerships, the companies operating in the ICS security market ensure the delivery of comprehensive security solutions and services to their customers.

Some of the key players operating in the ICS security market are ABB, BAE Systems, Bayshore Networks, Belden, Cisco, Cyberbit, Dragos, Fortinet, General Electric, Honeywell, IBM, Kaspersky, Nozomi Networks, Rolloos, FireEye, McAfee, Claroty, Raytheon, Schneider Electric, SecurityMatters, Symantec, and Trend Micro.

ICS security market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

ICS Security Market, By Security Type

  • Network security
  • Application security
  • Endpoint security
  • Database security

ICS Security Market, By Component

  • Solution
    • Firewall
    • SCADA encryption
    • Antivirus/Anti-Malware
    • Intrusion detection & prevention
    • Identity & Access Management (IAM)
    • Distributed Denial of Service (DDoS) solution
    • Data Loss Prevention (DLP)
    • Virtualization security
    • Security Information & Event Management (SIEM)
    • Unified Threat Management (UTM)
  • Service
    • Managed service
    • Integration & consulting
    • Audit & reporting
    • Risk management

ICS Security Market, By Application

  • Power and energy
  • Critical manufacturing
  • Mining
  • Water utility
  • Transportation
  • Chemical

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • APAC
    • China
    • Japan
    • Australia & New Zealand (ANZ)
    • South Korea
    • India
  • LAMEA
    • Brazil
    • Mexico
    • Argentina
    • GCC
    • South Africa

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Precision Farming Market expected to grow strongly by 2024

​The Precision Farming Market is set to grow from its current market value of more than $3.4 billion to over $10 billion by 2024; driven by rising demand for food due to rapidly increasing population and increasing investment in agriculture technology.

The meteoric rise of the global precision farming market can be rightly accredited to the rapidly evolving automated solutions that have enhanced agricultural practices followed across the world. These innovative solutions have ensured a marked increase in farm efficiency, higher waste reduction, and have further acted as pivotal proponents to ramp up the overall agricultural productivity. It would be prudent to mention that the rise of numerous start-ups has provided a new ray of hope to the farming sector, whose growth has been perpetually marred by innumerable challenges in the recent times. While observing the transforming landscape of the farming sector, it is quite undeniable that the launch of innovative precision tools by these next-gen start-ups has, in turn, boosted the growth trajectory of the overall precision farming industry. In fact, as per a research report compiled by Global Market Insights, Inc., the estimated y-o-y growth rate of the precision farming market has been cited to stand at an outstanding 14% over the timeframe of 2017-2024.

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While the competitive spectrum of the precision farming industry consists of numerous top-notch companies, a sizeable portion of the growth of this business space can be attributed to the emergence of start-ups. Following is a brief outline of the contributions of a few major start-ups which have generated waves of anticipation in the precision farming market over the recent years:

After establishing a rather formidable reputation in the epicenter of the global precision agriculture arena i.e. Israel, CropX has now built advanced software systems for adaptive irrigation which has been receiving massive applause across the U.S. Reportedly, the Tel Aviv based agro-analytics firm places high-tech sensor stations on large farms as per the directives given by a GPS-enabled smartphone app which further transmits data regarding soil condition. Moreover, the system not only informs farmers about the amount of fertilizer, pesticide, and water required by each patch on the farm at precise times but can regulate the whole irrigation setup as well. Apparently, with the development of an assortment of such innovative precision tools, CropX has rightly been termed by experts as a trendsetter of sorts in the global precision farming industry.

A Berlin-headquartered start-up, Infarm is known to build in-store farming units to manage the growth of crops in the vertical farming domain. The farms are apparently operated by the firm’s robust precision farming platform which monitors thousands of distinct data points and personalizes the farm to suit the needs of that particular unit. Each module is further equipped with a customized ecosystem that tailors the temperature, nutrients, light spectrums, and pH which ensures the agricultural produce is being grown as perfectly as possible. Apparently, the innovative products of upcoming precision farming market firms like Infarm are likely to reshape the agricultural landscape of cities, re-empower people to take ownership of their food, and re-introduce forgotten or rare varieties of crops over the ensuing years.

Based on the research conducted at Israel’s Ministry of Agriculture’s Volcani Institute, an emerging precision farming industry player Tevatronic has developed an irrigation technology that collects precise soil-related data from specific zones of the farmland. A smart controller converts this data in real time to release predefined amounts of fertilizer and water with zero human interference. The latest system has been praised extensively across the precision farming industry as it accentuates the agricultural productivity from 15% to 31% and further saves up to 75% on fertilizer and water. Needless to mention, such cutting-edge tools would acquire an imminent position in the overall precision farming market over the forthcoming years.

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In a bid to tackle various impediments such as rising cost of production, fragmented land holdings, restricted employment opportunities, and diminishing natural resources, the farming community across the globe appears keen to readily embrace advanced precision tools which would accelerate the growth prospects of the precision farming industry. In addition to this, numerous regional governments have been undertaking commendable initiatives to combat declining agricultural productivity and augment the rapidly lowering incomes of farmers. Furthermore, a large number of precision farming market participants have been concentrating on releasing novel products to accomplish greater sustainability, reduce environmental loss, and assist the farming fraternity to realize higher financial benefits. Considering the aforementioned statements, the growth potential of the precision farming industry looks promising with the overall business space forecast to surpass USD 10 billion by 2024, as per reliable estimates.

Report Content

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and research parameters

1.2. Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2. Executive Summary

2.1. Precision Farming industry 360º synopsis, 2014 – 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Component trends

2.1.4. Technology trends

2.1.5. Application trends

Chapter 3. Industry Insights

3.1. Introduction

3.1.1. Components of precision farming

3.2. Industry segmentation

3.3. Precision farming market

3.4. Precision farming ecosystem analysis

3.5. Precision farming evolution

3.6. Technology & innovation landscape

3.7. Regulatory landscape

3.7.1. National Pollutant Discharge Elimination System (NPDES).

3.7.2. Emergency Planning & Community Right to Know Act (EPCRA)

3.7.3. Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA)

3.7.4. EPA Office of Pesticide Programs Endangered Species Protection Program

3.7.5. Integrated Administration and Control System (IACS)

3.8. Industry impact forces

3.8.1. Growth drivers

3.8.1.1. Rising demand for food due to rapidly increasing population

3.8.1.2. Proliferation of Big Data

3.8.1.3. Increasing investment in agriculture technology

3.8.1.4. Adoption of IoT in agriculture

3.8.2. Industry pitfalls & challenges

3.8.2.1. Low adoption in the developing countries

3.8.2.2. Management of data

3.9. Growth potential analysis

3.10. Porter’s analysis

3.11. PESTEL analysis

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Commercial District Cooling Market to grow at 4% CAGR from 2018-2024

​The technology research report “District Cooling Market Size By Production Technique (Free Cooling, Absorption Cooling, Heat Pumps, Electric Chillers), By Application (Residential, Commercial {College/University, Office Buildings, Government Buildings}, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Poland, Sweden, Italy, France, Finland, Austria, Norway, China, Japan, South Korea, Singapore, Malaysia, Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain), Application Potential, Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says District Cooling Market to surpass USD 140 billion by 2024; driven by growing focus toward adoption of sustainable energy.

Growing concerns pertaining to carbon emissions along with rising demand for space cooling will foster the district cooling market. Increasing penetration of renewable energy technologies coupled with growing adoption of sustainable cooling solutions will stimulate the industry growth. In 2016, Tabreed reported an elimination of 570,000 tons of CO2 emissions from there 66 DC plants installed across the GCC countries.

Changing climatic conditions on account of increasing surface temperature and global warming will boost the market share. In addition, rapid urban area development and growing residential sector owing to increase in consumer spending and rise in per capita income will encourage the product adoption. The average temperature in Kuwait during summer seasons was recoded to be 300 C in 2016.

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Japan district cooling market is set to exceed 17 PJ by 2024. Rapid economic growth coupled with strict environmental norms toward emissions will encourage the product adoption. Growing concerns toward energy security along with large scale deployment of cooling systems across Tokyo, Sapporo, Osaka and Yokohama will complement the business outlook. Rapid technological advancement in product design and development along with extensive R&D activities across the nation has also instituted favorable business scenario for the industry players.

Increasing adoption of energy efficient and sustainable building standards along with ongoing development of environment friendly building solutions will stimulate the commercial market. In addition, the flourishing service sector including office buildings, data centers, colleges and universities will further impact the industry growth. For instance, in 4th quarter 2016, the overall investments toward commercial establishments were valued around USD 107.8 billion.

Ongoing adoption of heat pumps owing to their compatibility with sustainable heating technologies will stimulate the district cooling market. In addition, the technology is widely used for trigeneration, providing heat, cool and electricity across the commercial and residential establishments. It uses the waste heat to generate energy thereby, reducing the emissions effectively when compared with other counterparts.

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Stringent regulatory framework toward the adoption of sustainable cooling technologies along with accelerating service sector across the nation will boost the Sweden market. Increasing investments toward development of innovative energy efficiency solutions, energy management systems and efficient pipeline network will encourage the product demand. Ongoing deployment of clean energy technologies on account of government norms toward decarbonization of buildings will further complement the business outlook.

Key players catering across the district cooling market includes Keppel Dhcs, Tabreed, Singapore District Cooling, Emicool, SNC Lavalin, Fortum, ADC Energy, Vattenfall, Sellar Energy, Veolia, Shinryo Corporation, Ramboll, Qatar Cool, Siemens, Empower, Engie, Logstor, Alfa Laval, Wien Energi, Helen and Goteborg Energi.

District cooling market research report includes in-depth coverage of the industry with estimates & forecast in terms of TJ and USD from 2013 to 2024, for the following segments:

By Production Technique

  • Free Cooling
  • Absorption Cooling
  • Heat Pumps
  • Electric Chillers
  • Others

By Application

  • Residential
  • Commercial
    • College/University
    • Office Buildings
    • Government Buildings
    • Others
  • Industrial

The above information is provided on a country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Poland
    • Sweden
    • Italy
    • France
    • Finland
    • Austria
    • Norway
  • Asia Pacific’
    • China
    • Japan
    • South Korea
    • Singapore
    • Malaysia
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Oman
    • Kuwait
    • Bahrain
  • Rest of World

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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