Wireless Charging Market in revenues worth over US$ 27 billion

​As we head towards an era where wires won’t necessarily be a requisite for powering up devices, tech companies from around the world are intensifying their efforts towards production of advanced and immaculate wireless charging systems. Innovative technologies supporting the working mechanism of wireless charging devices is also piquing the curiosity of tech enthusiasts as well as common consumers. From green vehicles to smartphones, Persistence Market Research has published its research study on how wireless charging is spanning the globe as the next-gen mode of charging electric devices.

According to Persistence Market Research, the global market for wireless charging is currently valued over US$ 2.6 billion. By the end of 2024, revenues emanating from global sales of wireless charging devices & services will grow at an exponential CAGR of 34% and bring in revenues worth over US$ 27 billion.

The report further reveals the significance of components in driving the sales of wireless charging devices. Considering that wireless charging systems will eventually put an end to wired chargers, the components used in such systems will play an instrumental role in shaping up the future of wireless charging. Much like today, the feature of charging multiple devices at same time will continue to trend in the long run. In the global market for wireless charging, components used as power transmitters will garner a dominant position. In 2017 and beyond, transmitters are expected to account for more than three-fourth of global wireless charging revenues. Nevertheless, surplus power transmission will necessitate the use of advanced receiver components – revenues from which are projected soar at highest CAGR of 35.2%.

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Promising Future for Resonance Charging Technology

A key challenge faced by manufacturers of wireless charging systems hovers around the selection of suitable charging technology to assure compatibility with all electronic devices in the world. Availability of diverse electric devices brings uncertainty over expanding product portfolio of wireless charging systems. Research findings compiled in the report suggest that consumers of wireless charging devices are growing more inclined towards devices that use resonance charging technology. After accounting more than US$ 800 million revenues in 2016, the resonance charging technology will continue dominating the global wireless charging market by procuring nearly 40% value share through 2024. The global demand for inductive charging technology will incur a major downtrend, while revenues accounted by radio frequency (RF) charging technology will soar at nearly 40% CAGR during the projected period.

Growing Need for Wirelessly Charging Electric Vehicles

While every other wireless charging device sold in the world will be used for powering smartphones, tablets, laptops and other consumer electronics, the report projects a lucrative growth for automotive application of wireless charging systems. During the forecast period, revenues procured from sales of wireless charging devices in the global automotive industry will be elevated at a staggering 42.1% CAGR. Rampant sales of electric vehicles will be factoring this growth, making automotive the most favorable application of wireless charging. Additionally, complications and hazards arising from wired power cables in manufacturing plants will also propel the demand for wireless charging in industrial applications. Through 2024, more than US$ 5 billion worth of wireless charging devices are likely to be consumed by industries across the globe.

Additional Highlights of the Report include:

·Asia-Pacific will be the largest consumer of wireless charging systems in the world

·Sales of wireless charging devices in North America and Europe will procure more than 60% of global revenues throughout the forecast period

·Tech giant, Apple Inc., recently made the news for joining the Wireless Power Consortium (WPC) to be a part of the global organization that develops widely-used wireless charging standard for smartphones and other electronic devices

·The report has profiled similar tech companies that are partaking in the growth of global wireless charging market, which include – Qualcomm Technologies, Inc., Texas Instruments, Inc., Leggett & Platt, Inc., Energized Holdings, Inc., Integrated Device Technology, Inc., WiTricity Corporation, ConvenientPower HK Limited, PowerbyPoxi, and Powermat Technologies Ltd.

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Carbon Energy Software Market to Log 11.5% CAGR to 2022

​An increased emphasis on curbing energy usage will be the top driver for the global Carbon Energy Software Market. The growth of the market will only be accentuated by governments expecting greater compliance with norms related to carbon dioxide emissions. These factors will enable the global Carbon Energy Software Market to report a CAGR of 11.5% between 2014 and 2022, says Transparency Market Research in its latest report. The report is titled, ‘Carbon Energy Software Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022.’ According to the findings of the report, the global Carbon Energy Software Market stood at US$369.7 mn in 2013.

The report, however, also cautions that companies in the global carbon energy software market will face restraints in the form of low awareness among consumers and the seemingly high cost of deploying carbon and energy software. However, some of these restraints can be mitigated if companies explore cloud-based solutions designed specifically for small and medium enterprises. For the purpose of this study, the market is segmented on the basis of deployment type, end-use industry, and geography. By the method of deployment, the Carbon Energy Software Market has been segmented into hosted and on-premise. With an impressive share of about 80% (by revenue), the on-premise Carbon Energy Software Market dominated in 2013. However, this trend will turn during the report’s forecast period considering the mounting popularity of hosted carbon and energy software. Thus, the market for the latter will catch on significantly over the next seven years.

Several acquisitions are expected to occur in the global Carbon Energy Software Market over the next few years essentially because many new companies are entering the market and existing firms are diversifying their portfolio to include carbon and energy software. Likewise, on the basis of end-use industry, the report segments the market into: energy and utilities, oil and gas, manufacturing, IT and telecommunications, and others. In 2013, the IT and telecommunications industry was the largest end-user in the Carbon Energy Software Market with a 30.0% share in revenue terms. The demand for carbon and energy software will exhibit continued growth in the IT and telecom industry. However, industries that are carbon intensive are poised to generate a higher demand for carbon and energy software in order to comply with new regulations.

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For a geographical perspective, the market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. While North America was at the forefront of the global Carbon Energy Software Market with a 33% share in 2013, the fastest rate of growth will be reported by the Asia Pacific region. There are several factors that currently tilt the balance in favor of the North America market, the most important one being a greater degree of environmental awareness among business enterprises here. The dynamics at play in the Europe Carbon Energy Software Market are similar to that of North America. The report notes that countries such as Australia, China, India, Chile, Argentina, and Brazil carry appreciable growth opportunities for the Carbon Energy Software Market.

Key players in the global Carbon Energy Software Market are: Intelex Technologies, Inc., CA Technologies, Inc., IBM Corporation, IHS, Inc., Enablon North America Corporation, Thinkstep AG (PE International), Enviance, Inc., Verisae, Inc., ProcessMAP Corporation, and SAP SE.

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Software Defined Security Market to Touch a Value of About US$ 2,700 Mn in 2022

​One of the major growth factor for the adoption of software defined security is the growing concern amongst the organizations using the virtual infrastructure and services of a cloud based system. The software defined security system is used by the enterprises to automate their network security management. Due to the growing usage of the cloud technology, many enterprises are demanding security solutions that are easy to manage, can be highly customized and provide security without the presence of any hardware. Software defined security provides all these facilities and in addition, it is also used to prevent data loss and identify and access management solutions. With the growing adoption of cloud based services and infrastructure, the adoption of software defined security solutions is also on the rise.

The global software defined security market is slated to touch a value of about US$ 3,800 Mn in the year 2022 and grow at a robust CAGR during the assessment period.

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4 Forecast Highlights on Global Software defined security Market

·As per the forecast of Persistence Market Research, the services component type segment is slated to touch a value of about US$ 1050 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The services component type segment is estimated to account for nearly one-fourth of the revenue share of the component type segment by the year 2017 and is forecasted to gain market share by 2022 over 2017.

·As per the forecast of Persistence Market Research, the small and medium enterprise segment will reach a value of about US$ 640 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The small and medium enterprise segment is forecasted to account for more than one-fourth of the total revenue share of the end user segment by the end of the year 2017 and is expected to lose in market share by 2022 as compared with the year 2017.

·As per the forecast of Persistence Market Research, the network monitoring segment is slated to reach a value of nearly US$ 1,300 Mn in 2022. The network monitoring segment is expected to lose market share by the end of the year 2022. The largest share is contributed by the North America region in the network monitoring segment.

·Persistence Market Research forecasts the U.S. software defined security market to exhibit a compound annual growth rate (CAGR) of 7% from 2017 to 2022.

The report has also included the profiles of some of the leading companies in the software defined security market like Catbird, VMware, Inc., SAS Institute Inc., Fortinet, Cisco Systems, Inc., Symantec Corporation, Intel Corp., EMC Corp., Palo Alto Networks and Hewlett Packard Enterprise Company.

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Laser Displacement Sensor Market Government Support for Industrial Automation Stokes Growth

​Transparency Market Research (TMR) observes the global laser displacement sensor market to feature a moderately consolidated vendor landscape. The presence of a few large companies that operate globally renders a moderate degree of competition in this market.

Key players in the global laser displacement sensor market to name are SICK AG, KEYENCE Corporation, Panasonic Corporation, Cognex Corporation, TURCK GmbH Co., KG, OMRON Corporation, ZSY Group Ltd., Mechanical Technology Incorporated, Banner Engineering Corp., and MICRO-EPSILON.

According to a report by TMR, the global laser displacement sensor market is likely to expand at a CAGR of 7.6% during the forecast period between 2017 and 2025. Rising at this pace, the market which was valued at US$2713.2 mn in 2016 will become worth US$5,201.4 mn by the end of 2025.

The segment of more than 300mm range laser displacement sensors holds the leading market share amongst all segments based on range. This is because of an extensive number of sensors that are available in this segment. The automotive segment led amongst the key end-use segments in 2016 and going forward too the segment is expected to continue to remain dominant. Geography-wise, Asia Pacific is likely to exhibit the leading growth rate amongst all key regional markets for laser displacement sensor. The growth in the region is driven by the presence of a large number of manufacturing units in countries such as China, Japan, India, and South Korea.

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Government Support for Industrial Automation Stokes Growth

The laser displacement sensor market is predicted to witness an exponential growth in the forthcoming years on the back of rising trend of industrial automation along with cost saving practices in quality control. This is leading laser displacement sensors to find application across a number of application areas such as robotics, machine tools, and material handling among others.

Apart from this, rising use of laser displacement sensors in consumer electronics and automotive sectors coupled with their rising demand from other industries is immensely benefitting the laser displacement sensor market, globally.

Laser displacement sensors, which fall in non-contact type sensor category, overcome the shortcomings of contact type displacement sensors pertaining to variation in measurements, quick wearing of the sensor, and restriction of target motion among others. Further, laser displacement sensors are free of any limitations and thus find application across a number of end-use industries such as industrial, aerospace, and defense. These factors, along with the expected drop in prices of laser displacement sensors in the forthcoming years is likely to boost their uptake.

The growth of the laser displacement sensor market has also been boosted by steady support extended by governments around the world to implement industrial automation. In addition, initiatives undertaken by governments such as ‘Make in India’ by the Indian government to make India a global manufacturing hub is anticipated to drive the demand for laser displacement sensor in the region.

High Price Factor Crimps Growth

On the other hand, the high price and high maintenance cost of laser displacement sensor are acting as a key restraints on the market’s growth.

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Golf Cart Neighborhood Electric Vehicle Market to rise at a CAGR of 6.4% By 2025

​The largely consolidated vendor landscape of the global golf cart neighborhood electric vehicle market features a high degree of competitive rivalry among top players, reports Transparency Market Research (TMR) in a new market study. In 2013, the key four companies, namely Textron Inc., Polaris Industries, Yamaha Golf Cart Company, and Ingersoll Rand Corp. held a share of 70% in the overall market.

Savvy players in this market are investing in research and development for innovative products that will help them outshine their competitors. Apart from this, leading companies are focused to formulate new marketing strategies and advertising campaigns that will help increase their customer base.

The global golf cart and NEV market is projected to rise at a CAGR of 6.4% between 2017 and 2025, for the market to reach a valuation of US$3,819.2 mn by the end of 2025. By engine, electric powered engine held the leading revenue in the global Golf Cart Neighborhood Electric Vehicle Market in 2016. Low maintenance cost of electric powered golf carts and government initiatives to reduce pollution are benefitting the electric powered engine segment. Golf carts held the leading revenue over neighborhood electric vehicles on the basis of type in 2016.

Geography-wise, North America dominated the golf cart and NEV market in 2016 accounting for the leading revenue share amongst all regional segments.

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Environmental Benefits of Electric Vehicles Augment Growth of Golf Cart and NEV Industry

Among the key growth of global golf cart and NEV market, the rising demand for pollution-free vehicles that are sustainable in the long run is a prominent one. This is having a positive bearing on the demand for electric vehicles, which include golf carts and neighborhood electric vehicles as well. Electric vehicles have advantages of being energy efficient and environment friendly over gas powered vehicles and can cover small distances at low speed. Apart from this, electric vehicles provide smooth performance and require less maintenance than what is needed for traditional internal combustion engine vehicles.

The market is also expected to benefit from technological advancements in golf carts and NEVs in developed and developing countries such as the U.S., the U.K., Germany, China, France, and Japan.

In developing economies, rising disposable incomes leading to increased spending on bulky electrical appliances such as refrigerators, air-conditioners, and music systems is leading to an increasing demand for NEVs for delivery purposes. Further, widened application areas of NEVs such as in tourism and town commute are bolstering the growth of global golf cart and NEV market.

The growth of the golf cart and NEV market is also driven by the demand for golf cart and NEV in golf courses, security patrols, small campuses, and travel over short distances, parks, and hotels. Moreover, the swift shift from gas powered golf carts to electric powered golf carts is anticipated to emerge as a key trend in the global golf cart and NEV market.

High Initial Investments Challenges Growth

On the downside, the high initial cost of golf carts and NEVs is slowing their adoption. Golf carts and NEVs are technically complex that require delicate handling. Further, the recent economic depression in North America which is a leading consumer of golf carts and NEVs is slowing the sales of golf carts and NEVs. Lack of infrastructure for charging points for golf carts and NEVs in developing countries is further hindering the market’s growth.

Nevertheless, initiatives undertaken by leading companies to develop novel golf carts and NEVs with longer battery runtime is expected to favor the market’s growth. Other factors acting in favor of the market are initiatives from manufacturers for developing higher efficiency and less expensive electric vehicles.

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Integrated Platform Service Market Healthcare and Education Industries to Exhibit Steadfast Adoption

​The advent of integration technologies and their ongoing evolution exhibits a disruptive impetus across multiple industrial verticals. However, such disruptions are turning out to be profitable for companies and organizations seeking to integrate their applications and business platforms. Cloud networking and cloud computing are being extensively exercised across several industrial domains. As such technologies are penetration beyond technology-based businesses, the need for integrating their functionalities is becoming crucial.

According to a recent report published by Transparency Market Research, factors as such are fuelling the adoption of Integration Platform as a Service (IPaaS) in the world. In the near future, IPaaS will be actively adopted by enterprises seeking to integrate data and on-premise applications for propelling business growth. By allowing users an effective connectivity across multiple applications, IPaaS platforms are enabling employees of an enterprise deploy such integrations without installing an additional hardware or software.

By the end of 2022, the global market for Integration Platform as a Service is estimated to reach US$ 1.2 valuation. The study anticipates that during the five-year forecast period, 2017-2022, the global Integrated Platform Service Market will have soared robustly at a CAGR of 11.9%. The report also projects that North America will be the largest market for IPaaS in the immediate future.

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North America to Represent Leading Market for IPaaS

Key findings from the regional analysis availed in the report reveal that North America will be at the forefront of expansion of the global Integrated Platform Service Market over the forecast period. By the end of 2022, North America’s Integrated Platform Service Market is anticipated to worth nearly half a billion dollars. The report also anticipates considerable adoption of IPaaS in European markets. Through 2022, the Integrated Platform Service Market in Europe is poised to soar at a CAGR of 11.4%. Although, the fastest adoption of IPaaS is likely to be recorded in the Asia-Pacific excluding Japan (APEJ) market. Over the forecast period, the APEJ Integrated Platform Service Market is expected to grow vigorously at over 13% CAGR.

Healthcare and Education Industries to Exhibit Steadfast Adoption

Among the key industries, healthcare and education are anticipated to showcase a surging growth in terms of adoption of IPaaS solutions. Pharmaceutical companies are likely to implement IPaaS for boosting the efficiency of manufacturing applications and integrating production data with sales registries. Educational organizations are also anticipated to adopt these services and increase integration of learning processes with interactive devices and applications. The report also reveals that through 2022, the adoption of IPaaS will remain predominant in the IT & telecommunications industry.

With respect to end-users, large enterprises are anticipated to dominate the global Integrated Platform Service Market, while small & medium enterprises will witness an impressive traction in terms of adopting IPaaS. On the basis of components, the global Integrated Platform Service Market is bifurcated into software platforms and services, with the former segment representing higher share on global revenues. The report anticipates that adoption of IPaaS services is low at present, albeit, it will surge towards the end of 2022, considering the increasing complexities of implementing software platforms in the absence of proper deployment services.

The report has profiled leading IPaaS providers as key market players, which include IBM Corporation, Oracle Corporation, MuleSoft, Inc., Red Hat, Inc., Fujitsu Ltd., Microsoft Corp., SAP SE, Capgemini SE, Dell Inc., and TIBCO Software Inc. These companies are expected to remain active in the expansion of global Integrated Platform Service Market through 2022.

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IT Robotic Automation Market to Bring Vast Process Improvements in Financial Processes in IT Sector

​The global IT robotic automation market features a highly competitive landscape with a vast presence of players vying for a sustained share of the market by offering advanced solutions and tools at competitive pricing, notes Transparency Market Research (TMR). Some of the leading providers offering IT robotic automation solutions are UiPath SRL, Infosys Limited, Tata Consultancy Services Limited., IPSoft, Inc., Be Informed B.V., Blue Prism, and Sutherland Global Services, Inc. Several players are focused on developing cost-effective solutions, primarily aimed toward small and medium end-use enterprises, constrained by marked budget constraints, observes TMR. These players are focusing on untapped markets in various developing regions, in a move to consolidate their shares.

With the surging need for interactive and intuitive eLearning solutions among several end-use industries, the market is likely to witness elevated competitive over the years. Leading players are keen on developing high-functional automation tools and offering services at competitive pricing to gain a competitive edge over others.

The global market for IT robotic automation is predicted to reach a valuation of US$16,884.0 mn by the end of 2024. The market is projected to rise at a whopping CAGR of 47.1% from 2016 to 2024.

Based on solutions, the IT robotic automation market is segmented into services and tools. Of these, the services segment presently holds the dominant market share and is expected to continue its lead throughout the forecast period. Regionally, the North America market IT robotic automation held the major share of the global market in 2015, in terms of revenue. The dominance of the regional market is primarily attributed to a large number of early adopters and the growth is likely to be fueled by substantial advances being made in computing technologies.

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Robotic Automation to Bring Vast Process Improvements in Financial Processes in IT Sector

The growing demand for advanced process automation solutions in the IT industry to streamline workflows and key processes is a vital factor driving the IT robotic automation solution market, globally. The growing prominence of process automation in big data analytics to deliver on substantial value across a wide range of business processes is a key factor propelling the demand for IT robotic automation services and tools. The rising demand for modernizing business processes aimed toward improving productivity and boosting customer satisfaction in various industries is catalyzing the uptake of robotic automation solutions. For instance, the growing automation of a variety of routine processes in several businesses in a number of emerging economies is fueling the growth of the market.

The rising popularity of robotics among IT enterprises in bringing process improvements in key business functions, especially financial management and accounting, is a crucial factor boosting the market. In addition, the uptake of robotic automation tools is vastly fuelled by their applications in BPO and infrastructure management. Robotic services in the IT sector are gaining traction for automating invoicing, task allocation, payment processing, query handling, and data integration. In addition, the increased demand for robotic tools for improving compliance has also bolstered the uptake.

Robotic Automation Solutions Gaining Traction across Server Management

The indiscriminate control vetted out to a handful of programmers or end users to manage several key business processes in an IT enterprise is a crucial concern likely to hinder the market to an extent. In addition, the marked complexity of some of the existing outsourcing contracts in the BPO sector is a key factor expected to hinder the IT robotic automation market. This has hindered a wide scale adoption of robotic automation tools in the IT industry in various parts of the world.

On the other hand, the growing popularity of robotic solutions in big data management and their growing demand for infrastructure management in the IT sector are key factors expected to catalyze the market growth in the coming years. For instance, the adoption of robotic automation solutions is gaining traction across server management, Furthermore, the uptake of robotic automation tools and services has led to a significant reduction of infrastructure headcount. The rising share of robotic automation in big data analytics to leverage never-seen-before benefits is anticipated to unlock exciting opportunities for manufacturers and vendors in the market.

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