AI Drives Growth Across InsurTech, NFT, Digital Content and Auto Parts Markets

InsurTech Market to Grow by USD 77.41 Billion (2024-2028), Driven by Business Efficiency Needs and AI Impacting Market Trends - Technavio

NEW YORK, Dec. 11, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global insurtech market size is estimated to grow by USD 77.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 42.35% during the forecast period. Increasing need to improve business efficiency is driving market growth, with a trend towards investors collaborating with insurtech firms. However, high cost of investment poses a challenge. Key market players include Acko Technology and Services Pvt. Ltd., Allianz SE, Berkshire Hathaway Inc., Charles Taylor Ltd., Cuvva Ltd., Cytora Ltd., DeadHappy Ltd., Flock Ltd., Friendsurance, Kin Insurance Technology Hub LLC, KYND Ltd., Laka Ltd., Massachusetts Mutual Life Insurance Co., Milvik AB, Nimbla Ltd., Quantemplate Technologies Inc., simplesurance GmbH, Slice Insurance Technologies Inc., Uinsure Ltd., Urban Jungle Services Ltd., Wrisk Ltd., ExtraCover Ltd., and F2X Group Ltd.. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF InsurTech Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 42.35% Market growth 2024-2028 USD 77.41 billion Market structure Fragmented YoY growth 2022-2023 (%) 40.22 Regional analysis North America, Europe, APAC, Middle East and Africa, and South America Performing market contribution North America at 51% Key countries US, China, India, UK, and France Key companies profiled Acko Technology and Services Pvt. Ltd., Allianz SE, Berkshire Hathaway Inc., Charles Taylor Ltd., Cuvva Ltd., Cytora Ltd., DeadHappy Ltd., Flock Ltd., Friendsurance, Kin Insurance Technology Hub LLC, KYND Ltd., Laka Ltd., Massachusetts Mutual Life Insurance Co., Milvik AB, Nimbla Ltd., Quantemplate Technologies Inc., simplesurance GmbH, Slice Insurance Technologies Inc., Uinsure Ltd., Urban Jungle Services Ltd., Wrisk Ltd., ExtraCover Ltd., and F2X Group Ltd. Market Driver InsurTech, the fusion of Insurance and Technology, is creating waves in the industry. This innovation is revolutionizing the creation, distribution, and administration of insurance products. From social insurance to life & health, auto, marine, liability, buildings, and commercial buildings insurance, InsurTech is transforming business lines and product lines. Machine learning and artificial intelligence are driving personalized solutions for niche customers. Real-time tracking and monitoring information enable better risk monitoring and decision making. Customer data is the new currency, with predictions based on purchase quantity and consumer needs. Cloud computing, blockchain, IoT, and digital solutions are the new norm. InsurTech is transforming insurance planning with big data, chatbots, and on-premise solutions. Insurance carriers are embracing digital transformation, leveraging technology to streamline operations and enhance customer experience. The future of InsurTech lies in continuous innovation and meeting evolving customer needs. Investors are showing heightened enthusiasm towards partnering with InsurTech firms, as evidenced by the recent conference where 1,500 investors, entrepreneurs, and insurance executives convened. The primary objective of the event was to explore how technology is revolutionizing the insurance sector. Technological advancements have significantly impacted the insurance value chain, streamlining costing processes, enhancing consumer experience, increasing transparency, reducing fraud through data analysis, and simplifying claims for customers. InsurTech companies are prioritizing the growing consumer demand for tailored insurance products and personalized services. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The InsurTech market is revolutionizing the insurance industry by creating and distributing innovative insurance products using technology. Challenges in insurance creation and administration are being addressed through the use of machine learning and artificial intelligence. Social insurance and customer data analysis help insurers make accurate predictions and personalized decisions for insurance planning. Real-time tracking and monitoring information are crucial for risk monitoring and customer satisfaction. Insurance carriers are embracing digital solutions to meet consumer needs, including cloud computing, IoT, and blockchain. Business lines and product lines are catering to niche customers with specific risk profiles. Machine learning algorithms help insurers assess purchase quantity and make informed decisions. Big data and chatbots streamline customer interaction and improve decision-making processes. Solutions providers are leading the digital transformation in insurance, offering cloud-based and on-premise solutions for life & health, auto, marine, liability, buildings, and commercial buildings insurance. IoT devices provide real-time data for dwelling coverage, contents coverage, and risk monitoring. The integration of technology in insurance is a game-changer, enabling insurers to provide customized solutions and improve overall customer experience.Insurance firms are embracing the sale of products through the latest technology, known as InsurTech. However, this new approach necessitates specialized training for insurance staff to effectively use the technology and understand the insurance offerings. Retraining is essential to ensure that employees can provide clients with suitable insurance solutions. Many firms are integrating technology with banking and broking services, but managing these systems effectively requires technical expertise, which some firms may lack. Therefore, investing in trainers for staff and brokers is crucial for successful implementation of InsurTech solutions. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This insurtech market report extensively covers market segmentation by Application 1.1 Marketing and distribution1.2 IT support1.3 Claim management1.4 Policy administration and management1.5 OthersDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America 1.1 Marketing and distribution- The InsurTech market's marketing and distribution segment is poised for significant growth during the forecast period. The widespread use of smartphones and easy internet access have fueled digital marketing and distribution of insurance policies through advanced technologies. Regulations mandating electronic promotion system certifications ensure security. Mobile point-of-sales in e-retail is gaining acceptance, providing insurance companies with opportunities to cater to busy customers. InsurTech platforms offer chatbots for live customer interaction and resolution of queries, enhancing the digital experience. Customer-centricity and high ROI are driving segment growth. InsurTech startups disrupt traditional financial services with increased access, transparency, and lower costs. Automation through pattern recognition algorithms and predictive coding reduce industry overheads and improve process efficiency. Deregulation of equity crowdfunding and private startup investments attract investors, further fueling market growth. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis Insurance Technology, or InsurTech, refers to the use of technology to create, distribute, and administer insurance products. This innovative sector is revolutionizing the industry by enabling the creation of ultra-customized policies tailored to individual needs. Social insurance, life & health, auto, marine, liability, buildings, and commercial buildings insurance are just a few areas benefiting from InsurTech. Machine learning and artificial intelligence are key technologies driving personalized offerings. Customer data is analyzed to provide accurate risk assessments and pricing. Cloud computing and deployment models allow for flexible and scalable solutions. Blockchain ensures secure and transparent transactions. Business analytics and IoT devices provide real-time data for risk assessment and claims processing. InsurTech is transforming various insurance sectors, including life & health, auto, marine, liability, buildings, and home insurance. Dwelling coverage and contents coverage are now offered with greater precision and efficiency. The future of insurance is technology-driven, offering customized policies and improved customer experiences. Market Research Overview The InsurTech market refers to the use of technology to create, distribute, and administer insurance products. This includes social insurance, life & health, auto, marine, liability, buildings, and commercial buildings insurance. Customer data is a crucial element, with machine learning and artificial intelligence used for predictions based on consumer needs, purchase quantity, and decision making. Real-time tracking and monitoring information are essential for insured parties, and businesses are leveraging digital solutions to streamline insurance planning. Cloud computing, blockchain, IoT, and big data are transforming the industry, with solutions providers offering digital transformation through on-premise and cloud-based platforms. Chatbots and insurance carriers are also part of this landscape, enhancing customer experience and enabling efficient claim processing. Overall, InsurTech is revolutionizing the insurance industry by providing innovative digital solutions for various business lines and niche customers. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation ApplicationMarketing And DistributionIT SupportClaim ManagementPolicy Administration And ManagementOthersDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/insurtech-market-to-grow-by-usd-77-41-billion-2024-2028-driven-by-business-efficiency-needs-and-ai-impacting-market-trends---technavio-302328190.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Non-Fungible Token (NFT) Market to Grow by USD 68.16 Billion (2024-2028), Driven by Digital Art Demand and AI-Powered Market Evolution - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 11, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global non-fungible token (NFT) market size is estimated to grow by USD 68.16 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 30.23% during the forecast period. Increasing demand for digital art is driving market growth, with a trend towards growing interest in nfts among major brands. However, uncertainty in nfts poses a challenge. Key market players include AirNFTs Platform, Asynchronous Art Inc., Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis, SuperRare Labs Inc., Tiki Labs Inc., Yellowheart LLC, Axie Infinity.Cloudflare, Inc.; PLBY Group, Inc.; Dolphin Entertainment, Inc.; Takung Art Co., Ltd.; Dapper Labs, Inc.; Onchain Labs, Inc Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Non-fungible Token (NFT) Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 30.23% Market growth 2024-2028 USD 68.16 billion Market structure Fragmented YoY growth 2022-2023 (%) 23.27 Regional analysis APAC, North America, South America, Europe, and Middle East and Africa Performing market contribution APAC at 39% Key countries US; Canada; Thailand, China; Brazil, U.K.; Germany; France; China; Japan; India; South Korea; Australia; Mexico; Kingdom of Saudi Arabia (KSA); UAE; South Africa Key companies profiled AirNFTs Platform, Asynchronous Art Inc., Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis, SuperRare Labs Inc., Tiki Labs Inc., Yellowheart LLC, Axie Infinity, Cloudflare, Inc.; PLBY Group, Inc.; Dolphin Entertainment, Inc.; Takung Art Co., Ltd.; Dapper Labs, Inc.; Onchain Labs, Inc Market Driver NFTs, or Non-Fungible Tokens, have taken the art, athletes, and celebrities worlds by storm. These digital assets, representing unique items like artworks, collectibles, and even virtual real estate, are creating buzz in various industries. Blockchain technology powers NFTs, ensuring transparency, ownership, and scarcity. The gaming industry and media & entertainment sector are leveraging NFTs for tokenizing games, trading cards, and virtual items. Artists and athletes are minting NFTs of their digital artworks and collectibles, offering fans exclusive ownership. Augmented Reality (AR) and Extended Reality (XR) are enhancing the NFT experience, making it more interactive. The NFT community is growing, with online platforms enabling easy buying, selling, and trading. However, regulatory considerations, consumer protection, and legal frameworks are crucial. Fraud and taxation are concerns, with securities laws and intellectual property rights coming into play. Blockchain networks like Ethereum and proof-of-work/stake mechanisms ensure secure transactions. The NFT market is evolving, with potential applications in decentralized finance, music, and even virtual vehicles. The future looks promising, with the metaverse and virtual reality (VR) offering new possibilities. The White House and third parties are exploring NFTs, signaling mainstream adoption. Big brands, such as Visa Inc. And Budweiser, are increasingly exploring the Non-Fungible Token (NFT) market for potential earnings. In August 2021, Visa Inc. Made a significant investment by purchasing a CryptoPunk NFT for approximately USD165,000. This acquisition expanded Visa's historic commerce artifacts collection. The primary motivation for these corporations is the opportunity to generate additional revenue. Furthermore, they are focusing on utilizing NFTs as incentives for consumers. For instance, NFTs can serve as innovative rewards, offering exclusive gifts to loyal customers. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Non-Fungible Tokens (NFTs) have disrupted the art, collectibles, and entertainment industries by allowing unique digital assets to be bought and sold as property. Artists, athletes, celebrities, and even the White House have joined the NFT community, creating digital artworks, collectibles, and virtual items backed by blockchain technology. NFTs provide proof of ownership, scarcity, and authenticity, making them attractive to investors. However, challenges persist, such as regulatory considerations under securities laws, consumer protection, and fraud. Distributed networks like Ethereum facilitate NFT trading, but logistical issues and taxation remain unclear. The gaming industry, media & entertainment, and decentralized finance are exploring NFTs for tokenization of games, virtual items, and digital property. Augmented Reality (AR) and Extended Reality (XR) are expected to enhance the NFT experience. However, legal frameworks and regulatory considerations need to address intellectual property, third-party rights, and securities laws. Ultimately, NFTs offer a new way to monetize and trade digital assets, but careful planning and regulation are crucial to ensure a fair and secure marketplace.The Non-Fungible Token (NFT) market presents both opportunities and challenges for sellers. Valuation of NFTs is uncertain due to the difficulty in determining future demand and pricing. Factors such as scarcity, uniqueness, and buyer perception play a significant role in determining NFT value. New sellers face challenges in anticipating buyer identity and purchase drivers. As the market continues to evolve, predicting future trends in NFT pricing remains difficult for new investors. The value of NFTs is subjective and dependent on buyer perception, leading to price fluctuations. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This non-fungible token (nft) market report extensively covers market segmentation by Application 1.1 Collectibles1.2 Sports1.3 Arts1.4 OthersEnd-user 2.1 Personal2.2 CommercialGeography 3.1 APAC3.2 North America3.3 South America3.4 Europe3.5 Middle East and AfricaType 1.1 Collectibles- Non-Fungible Tokens (NFTs) refer to unique digital collectibles, minted on the Blockchain. These collectibles are limited-edition and cannot be exchanged or replicated. Vendors offer online platforms for buying and selling NFTs. Key features include the owner's exclusive right to sell, royalty payments on future sales, and protection against unauthorized use or copying. The NFT market's expansion is fueled by the increasing demand for digital assets worldwide. Industries are going digital, and the Internet's ubiquity, along with rising usage, encourages investments in digital assets. Tokenization, which creates digital tokens representing asset ownership, further boosts market growth. These factors are expected to significantly contribute to the growth of the global NFT market. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Non-Fungible Token (NFT) market is revolutionizing the way we buy, sell, and own digital assets. This innovative technology allows for the unique representation and ownership of electronic artworks, gaming items, and collectibles on the blockchain. The gaming industry has embraced NFTs, enabling tokenization of in-game items and creating new revenue streams. NFTs on Ethereum network provide scarcity and ownership, making digital artworks valuable and collectible. Legal frameworks are evolving to accommodate this new asset class, while AR, VR, and XR technologies enhance the NFT experience. Blockchain technology and cryptocurrencies power the NFT market, with Web 3 enabling decentralized finance and creating new distribution networks. Fraud prevention is crucial in this market, with NFT suppliers ensuring authenticity and ownership. The NFT market offers a new frontier for creators, collectors, and investors, with Magic Eden and other platforms serving as marketplaces for these unique digital assets. Market Research Overview The Non-Fungible Token (NFT) market is a revolutionary digital ecosystem where Art, Digital Artworks, and Collectibles come to life as unique, verifiable, and tradable assets on the blockchain. This decentralized platform allows Artists, Athletes, and Celebrities to monetize and showcase their Intellectual Property in the form of NFTs, including Painting, Music, and even Virtual Real Estate. Blockchain technology enables Ownership and Transfer of these Digital Assets with transparency and Security. NFTs are not limited to the Art World but extend to Gaming Industry, Sports Collectibles, Trading Cards, and Virtual Items. The market also includes Decentralized Finance, Cryptocurrencies, and Cryptocurrencies/assets. Regulatory considerations and Consumer Protection are essential aspects of this emerging market, with legal frameworks and Taxation being crucial. NFTs can be traded on various Online Platforms, and the market is expanding into Extended Reality (XR) and Metaverse, offering new opportunities for creators and investors. However, Fraud and Scam risks exist, highlighting the need for careful consideration and due diligence. NFTs represent a new frontier in the Digital Economy, with potential applications in various industries, including Media & Entertainment, Logistics, and even House and Vehicle ownership. Smart Contracts and Proof of Work or Stake are essential components of the NFT market, enabling seamless Transactions and Distribution Networks. The NFT community continues to grow, with various Third Parties offering services and solutions to facilitate the creation, trading, and management of NFTs. The NFT market is a dynamic and evolving space, offering endless possibilities for creators, investors, and consumers alike. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation ApplicationCollectiblesSportsArtsOthersEnd-userPersonalCommercialGeographyAPACNorth AmericaSouth AmericaEuropeMiddle East And AfricaType 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/non-fungible-token-nft-market-to-grow-by-usd-68-16-billion-2024-2028-driven-by-digital-art-demand-and-ai-powered-market-evolution---technavio-302327902.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Digital Content Market to grow by USD 927 Billion (2024-2028), driven by digital transformation across sectors, Report on how AI is driving market transformation - Technavio

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global digital content market size is estimated to grow by USD 927 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 15.7% during the forecast period. Digital transformation across sectors is driving market growth, with a trend towards increased utilization of social media. However, limitation in content availability poses a challenge. Key market players include Activision Blizzard Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T Inc., Baidu Inc., Bloomberg LP, Comcast Corp., Deezer SA, DISH Network L.L.C., Electronic Arts Inc., Gannett Co. Inc., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Nine Entertainment Co. Holdings Ltd., Roku Inc., Sony Group Corp., Tencent Holdings Ltd., and The Walt Disney Co.. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Digital Content Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 15.7% Market growth 2024-2028 USD 927 billion Market structure Fragmented YoY growth 2022-2023 (%) 13.76 Regional analysis North America, Europe, APAC, South America, and Middle East and Africa Performing market contribution North America at 41% Key countries US, China, India, UK, and Germany Key companies profiled Activision Blizzard Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T Inc., Baidu Inc., Bloomberg LP, Comcast Corp., Deezer SA, DISH Network L.L.C., Electronic Arts Inc., Gannett Co. Inc., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Nine Entertainment Co. Holdings Ltd., Roku Inc., Sony Group Corp., Tencent Holdings Ltd., and The Walt Disney Co. Market Driver The digital content market is experiencing significant growth due to the increasing importance of social media as a data source for organizations. Content developers and advertisers are utilizing social computing tools for branding, marketing, knowledge management initiatives, and recruitment. Social networking sites, such as Twitter and Facebook, are being used to reach new audiences and gain public feedback. Sentiment analysis and text analytics are driving the inclusion of social media in business processes. Digital content providers are also using social media and internet searches to screen potential talent and understand consumer preferences. Brands and retailers are investing heavily in mobile advertising to reach consumers on their devices. Personalized services, such as location-based technology, are helping vendors target audiences with customized offers. The expansion in content variety is essential for digital content vendors to meet consumer demands for high-quality, meaningful, and relevant content. VR and 360° video content and images are the latest advances in the market, with VR being a popular trend in digital entertainment. These technologies are driving growth in the global digital content market during the forecast period. In today's digital landscape, social media platforms continue to dominate as key channels for content distribution. Advanced technologies like augmented reality (AR), virtual reality (VR), and mixed reality are revolutionizing content production, offering experiences for consumers. The tools segment is thriving, with solutions for content authoring, graphic design, video editing, web development, and more. Component analysis is crucial for selecting the right tools, considering factors like cloud-based or on-premise deployment, large enterprise IT needs, and cybersecurity. With the rise of cloud computing, zettabytes of data are being generated daily, fueling the demand for content. Lockdown restrictions have accelerated internet usage, leading to increased streaming on platforms like Spotify. IRights management is essential for protecting intellectual property. Figma, Zippia, and SEO tools are popular choices for content creators. Comprar Acciones indicates investing in stocks related to this industry. Textual content remains king, but visuals are gaining ground. Stay ahead of the curve with the latest trends. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Digital content is a valuable asset and a significant challenge for providers. Acquiring rights to distribute content on new platforms is a hurdle, requiring a deep understanding of target markets and adherence to local regulations. Content owners must balance relationships with exhibitors and broadcasters to avoid litigation. Competition among digital content service providers is intense, with players competing on price, features, and functionality. The digital content market is fragmented, with large and niche players. Data space requirements exceed current availability, necessitating content selection and bandwidth optimization. Scalability increases storage costs, and content classification can save on transfer costs. These limitations may hinder market growth during the forecast period.In today's digital age, enterprises of all sizes face challenges in creating high-quality digital content for their target audiences. Graphical, audio, and video content are essential for engaging customers on various digital platforms. However, producing such content can be time-consuming and resource-intensive for medium and large-sized enterprises. Google LLC dominates the digital landscape with its search engine and various content consumption tools like YouTube and Google Podcasts. Industries like retail and ecommerce, automotive, pharmaceutical, entertainment, travel and tourism, and more, rely heavily on digital content to reach their customers. Content creators use tools like Quark Software's QuarkXPress 2022 to produce professional-grade digital content. AI and machine learning are increasingly being used to create personalized content, making social media usage a crucial part of digital strategies. Brands strive for online presence through branded content on digital media, focusing on customer engagement and brand loyalty. Budgets for digital content creation continue to grow, with video content being a major investment area. Traditional text-based content still holds importance, but businesses need to adapt to the changing digital landscape to stay competitive. Sound Chart is an excellent example of a platform catering to the audio content needs of businesses. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This digital content market report extensively covers market segmentation by Content Type1.1 Digital video content1.2 Digital game content1.3 Digital text content1.4 Digital audio contentApplication 2.1 Smartphones2.2 Computers2.3 Smart TV2.4 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 Digital video content- The digital video content segment dominates the global digital content market due to its large market share. Leading players like Netflix, Amazon, and Hulu are enhancing their offerings and experimenting with new business models. The demand for over-the-top (OTT) video services has various subscription options and premium content. High-speed broadband and telecom network infrastructure advancements, including 4G and 5G technologies, are significant growth drivers in emerging economies. In developed economies, the popularity of the subscription-based model fuels the segment's growth. Internet access expansion, the rise in connected devices, and user-friendly online video catalogs contribute to digital video content adoption. Social media video posts attract more inbound links than text posts, making video content an effective marketing tool. Short-form video services like Vine and Instagram's 15-second format cater to modern consumers' attention spans. The shift to online video content consumption is a trend that will continue, with attractive video catalogs and competitive pricing from providers. New vendors entering the market and the focus on premium OTT content fuel competition and consumer awareness. Entertainment and infotainment, food, travel, fashion, gaming, spiritual content, sports, and live events are popular video content categories, driving consumer interest. (Word count: 100) Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis In the digital age, IT has become a crucial aspect of our lives, with cloud computing playing a significant role in storing and managing data. Amidst lockdown restrictions, the internet has become a lifeline, enabling US to stream music on platforms like Spotify, work remotely, and connect with others through social media. Cybersecurity Ventures predicts that by 2025, 95% of businesses worldwide will be using cloud services, leading to an increase in data usage, reaching zettabytes. Content creators have seized this opportunity, producing high-quality content in various formats such as blog posts, videos, podcasts, and infographics for digital platforms. Tools like Figma, Zippia, and SEO tools have made content creation more accessible and efficient. Digital strategies are essential for businesses to reach their target audiences effectively in this dynamic digital landscape. Market Research Overview In the digital age, IT has revolutionized the way businesses connect with their target audiences. Cloud computing has enabled the storage and delivery of vast amounts of digital content, including zettabytes of textual, graphical, audio, and video data. The lockdown restrictions have further accelerated the shift towards online platforms, with streaming services like Spotify and enterprise-sized, medium, and large businesses adopting digital content and digital platforms for blog posts, videos, podcasts, infographics, social media, and more. Content creators are utilizing advanced tools like Figma, Zippia, SEO tools, and AI-driven machine learning to produce high-quality, personalized content for their audiences. Google LLC dominates the digital landscape with its search engine and various digital media offerings. Retail and ecommerce, automotive, pharmaceutical, entertainment, travel and tourism, and other industries are investing heavily in digital content production to boost customer engagement, brand loyalty, and online presence. The tools segment includes content authoring, graphic design, video editing, web development, and more. Deployment modes include cloud-based and on-premise solutions. Advanced technologies like augmented reality, virtual reality, and mixed reality are also transforming the way businesses create and deliver experiences to their customers. Stay tuned for the latest trends and insights in the digital content market. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Content TypeDigital Video ContentDigital Game ContentDigital Text ContentDigital Audio ContentApplicationSmartphonesComputersSmart TVOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/digital-content-market-to-grow-by-usd-927-billion-2024-2028-driven-by-digital-transformation-across-sectors-report-on-how-ai-is-driving-market-transformation---technavio-302325746.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Auto Parts Market to grow by USD 354.9 Billion from 2024-2028, driven by technological advancements, Report on how AI is transforming the market - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global auto parts market size is estimated to grow by USD 354.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.2% during the forecast period. Increased usage of technological advancement in the global auto parts market is driving market growth, with a trend towards increasing M and A, and partnership. However, sharp decline in automobile production and sales poses a challenge. Key market players include 3M Co., AISIN CORP., Akebono Brake Industry Co. Ltd., Autoliv Inc., BorgWarner Inc., Brembo Spa, General Motors Co., HELLA GmbH and Co. KGaA, Hyundai Motor Co., Lear Corp., Magna International Inc., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Schaeffler AG, Stellantis NV, Tenneco Inc., The Goodyear Tire and Rubber Co., Toyota Motor Corp., Valeo SA, and ZF Friedrichshafen AG. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered End-user (OEM and Aftermarket), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) Region Covered North America, Europe, APAC, South America, and Middle East and Africa Key companies profiled 3M Co., AISIN CORP., Akebono Brake Industry Co. Ltd., Autoliv Inc., BorgWarner Inc., Brembo Spa, General Motors Co., HELLA GmbH and Co. KGaA, Hyundai Motor Co., Lear Corp., Magna International Inc., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Schaeffler AG, Stellantis NV, Tenneco Inc., The Goodyear Tire and Rubber Co., Toyota Motor Corp., Valeo SA, and ZF Friedrichshafen AG Key Market Trends Fueling Growth Vendors in the auto parts market are implementing strategies like mergers and acquisitions and partnerships to gain a competitive edge. For instance, in September 2022, Hyundai expanded its strategic alliance with Korea's leading telecom provider, KT Corporation (KT). Hyundai and KT collaborated extensively in the areas of Information and Communication Technology (ICT) and next-generation communication infrastructure. Their cooperation included joint research on 6G autonomous driving technologies and the Advanced Air Mobility (AAM) satellite-based communication network. These initiatives are significantly boosting market growth during the forecast period. The Auto Parts Market is experiencing significant trends in 2023. Safety standards are a top priority, with demand for parts related to brake systems, fuel systems, and cooling components. Fuel efficiency is another trend, driving interest in EV-specific auto parts and 3D printing technology. Economic uncertainty impacts vehicle sales, leading to increased demand for aftermarket parts. Tires, sensors, radar systems, and LIDAR technology are in high demand for both OEM and aftermarket applications. Vehicle production for electric vehicles, autonomous vehicles, three-wheelers, and two-wheelers is on the rise. Auto parts manufacturers are investing in cutting-edge technology like autonomous vehicle technology and sensors to meet this demand. Online platforms and e-commerce are transforming the way auto parts are bought and sold. Fuel system parts, headlamps, and braking components remain essential for traditional vehicles. Overall, the Auto Parts Market is dynamic and evolving to meet the needs of the modern automotive industry. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges * The global auto parts market faces challenges due to decreased vehicle production and sales. Key components like steering and brakes are essential for both passenger cars and commercial vehicles. However, the slowdown in automobile manufacturing and sales in regions such as North America and Europe, coupled with increasing tariffs on imported vehicles in the US and China, may negatively impact market growth. Consequently, several vehicle manufacturers have halted production, leading to reduced demand for auto parts and hindering market expansion during the forecast period. * The Auto Parts Market faces several challenges in the rapidly evolving automotive industry. Electric vehicles (EVs) are gaining popularity, requiring new parts for batteries, motors, and charging systems. Cutting-edge technologies like 3D printing, autonomous vehicle technology, sensors, radar systems, and LIDAR technology demand continuous innovation from OEM suppliers and aftermarket manufacturers. Braking components, headlamps, engines, electronics, lighting, safety equipment, navigation systems, and more must adapt to these advancements. Three-wheelers, two-wheelers, quadricycles, boats, yachts, and watercraft also need parts. Commercial fishermen and maritime professionals rely on engine parts, electrical parts, and more. Passenger, commercial, light commercial vehicles, sports vehicles, driveline and powertrain, interiors and exteriors, auto accessories, and more must meet evolving consumer demands, connectivity features, and vehicle emissions regulations. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This auto parts market report extensively covers market segmentation by End-user 1.1 OEM1.2 AftermarketDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 OEM- The Original Equipment Manufacturer (OEM) segment is projected to experience substantial growth in market share compared to the aftermarket during the forecast period. OEMs produce auto parts, such as brakes, steering, and others, specifically designed for newly built vehicles. These parts are engineered to match the exact specifications of the vehicle, ensuring a perfect fit. This alignment with vehicle specifications makes OEM parts the preferred choice for automobile manufacturers worldwide. Buyers value OEM parts because they are identical to the original parts installed during manufacturing, providing peace of mind regarding performance and quality. Consequently, the expanding OEM segment will fuel the expansion of the global auto parts market throughout the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Auto Parts Market is experiencing significant growth due to advancements in technology and the increasing demand for vehicles, including electric vehicles. New technologies such as 3D printing, autonomous vehicle technology, sensors, radar systems, and LIDAR technology are revolutionizing the industry. Cutting-edge technology is being integrated into various components, including braking systems, headlamps, engines, electronics, lighting, safety equipment, and navigation systems. The market caters to various industries, including boats, yachts, and watercraft, as well as OEM suppliers and aftermarket manufacturers. Commercial fishermen also rely on auto parts for their vessels. The market offers a wide range of products, including engine parts, brake system parts, electrical parts, and fuel system parts. Stay tuned for more updates on the latest trends and developments in the Auto Parts Market. Market Research Overview The Auto Parts Market is a dynamic and diverse industry that caters to various modes of transportation, including electric vehicles, three-wheelers, two-wheelers, quadricycles, boats, yachts, and watercraft. Cutting-edge technology continues to shape the market, with innovations such as Electric Vehicles (EVs), Autonomous vehicle technology, 3D printing, and advanced sensors like Radar systems and LIDAR technology leading the charge. The market includes OEM suppliers and aftermarket manufacturers, serving both passenger and commercial vehicles, light commercial vehicles, sports vehicles, and even commercial fishermen and maritime professionals. The market encompasses a wide range of parts, including engines, electronics, lighting, safety equipment, navigation systems, and auto accessories. The industry also includes driveline and powertrain components, interiors and exteriors, seating, and chassis parts. Fuel efficiency, safety standards, and vehicle ownership trends continue to influence market growth. Economic uncertainty and the shift towards online platforms and e-commerce are also significant factors shaping the industry. EV-specific auto parts and autonomous vehicles are emerging segments, with connectivity features and vehicle emissions becoming key considerations. The market is vast and complex, serving various vehicle types and industries, from automotive to maritime. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation End-userOEMAftermarketDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/auto-parts-market-to-grow-by-usd-354-9-billion-from-2024-2028--driven-by-technological-advancements-report-on-how-ai-is-transforming-the-market---technavio-302324983.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Debt Collection Software Market to Grow by USD 2.31 Billion (2024-2028), Driven by Rising NPLs and AI-Powered Market Evolution - Technavio

NEW YORK, Dec. 11, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global debt collection software market size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.92% during the forecast period. Rise in non-performing loans (npls) is driving market growth, with a trend towards integration of advanced technologies in debt collection software. However, high cost of debt collection software poses a challenge. Key market players include AgreeYa Solutions Inc., Analog Legalhub Technology Solutions Pvt. Ltd., CDS Software, Chetu Inc., Comtech Systems Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., Debt Pay Inc., DebtCol Software Pty. Ltd., Debtrak, Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PDCflow, PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH, Sila Inc., Totality Software Inc., A4dable Software, Ameyo Pvt Ltd., DBA PaySimple Inc., Simplicity Collection Software, Constellation Software Inc.; CGI Group Inc.; TransUnion; Nucleus Software Exports Ltd.; Pegasystems Inc.; Temenos Group AG; PAIR Finance; Credgenics AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Deployment (On-premises and Cloud-based), Industry Application (Small and medium enterprises and Large enterprises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa), Component, enterprise size, end-user Region Covered North America, Europe, APAC, South America, and Middle East and Africa Key companies profiled AgreeYa Solutions Inc., Analog Legalhub Technology Solutions Pvt. Ltd., CDS Software, Chetu Inc., Comtech Systems Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., Debt Pay Inc., DebtCol Software Pty. Ltd., Debtrak, Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PDCflow, PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH, Sila Inc., Totality Software Inc., A4dable Software, Ameyo Pvt Ltd., DBA PaySimple Inc., Simplicity Collection Software, Constellation Software Inc.; CGI Group Inc.; TransUnion; Nucleus Software Exports Ltd.; Pegasystems Inc.; Temenos Group AG; PAIR Finance; Credgenics Key Market Trends Fueling Growth The Debt Collection Software market is witnessing significant trends, including automation, multichannel communication, and affordability for organizations of all sizes. Large enterprises segment seeks economies of scale through deployment of advanced debt collection solutions. Services and solutions segments dominate, offering debt collection services and modern applications for effective loan recovery. Implementation of debt collection software involves business-specific needs, training, and implementation work. Legacy systems are being replaced with modern applications for productivity and effective debt recovery. Borrower data, overdue invoice reminders, phone calls, and online payment collection are essential components of the debt collection ecosystem. Banks and financial organizations prioritize debt collection journeys and money collection process, addressing complexities through automation, notifications, alerts, and compliance with consumer protection laws and debt collection regulations. Costs, bankruptcy status, and litigious consumers pose challenges. InterProse Corporation's InterProse ACE offers debt collection software for government organizations, with components including text messaging, voice mail drops, dialers, and compliance with debt collection regulations. Deployment options include on-premises and cloud-based, catering to enterprise size. The debt collection software market is undergoing a transformation through the integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics. These technologies are streamlining debt collection processes by enhancing decision-making capabilities, automating repetitive tasks, and improving overall efficiency. AI specifically, is revolutionizing the financial industry by enabling automated decision-making processes, predictive analytics, and personalized customer interactions. For instance, AI algorithms analyze historical debtor data to forecast payment behaviors and suggest tailored collection strategies, resulting in more effective interventions. This technological integration is a game-changer for the debt collection industry. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges * The Debt Collection Software market faces challenges in automating debt collection processes for organizations, particularly in the large enterprises segment. Affordability and economies of scale are key considerations, as debt collection software solutions must effectively meet business-specific needs without straining budgets. Automation of loan recovery processes, online payment collection, and multichannel communication are essential for productivity and effective debt recovery. Services and solutions segments offer debt collection services and deployment of software for organizations. Debt collection journeys include overdue invoice reminders, phone calls, text messaging, voice mail drops, and dialers. Borrower data, debt collection regulations, bankruptcy status, and litigious consumers add complexities to the debt collection ecosystem. InterProse Corporation's InterProse ACE software addresses these challenges with automatic monitoring, notifications, and alerts. Deployment options include on-premises and cloud-based solutions, catering to various enterprise sizes. Training and implementation work are crucial for successful deployment and integration with core business systems, such as legacy systems and modern applications. Consumer protection laws and debt collection regulations must be adhered to, ensuring compliance and effective debt collection. Costs, productivity, and effective debt recovery are the primary objectives for financial and banking organizations. The debt collection software market continues to evolve, providing innovative solutions to streamline the money collection process. * The debt collection software market is facing a significant challenge due to the high cost of the software. This issue poses a barrier for smaller debt collection agencies and businesses with limited financial resources, potentially reducing competition and increasing prices for consumers. The average cost of the software ranges from USD480 to USD1200 yearly per user, with enterprise solutions costing more based on specific requirements. This high expense can hinder market growth and limit access to effective debt collection solutions for many organizations. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This debt collection software market report extensively covers market segmentation by Deployment 1.1 On-premises1.2 Cloud-basedIndustry Application2.1 Small and medium enterprises2.2 Large enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaComponentEnterprise sizeEnd-user 1.1 On-premises- On-premises debt collection software solutions hold a substantial position in the global debt collection software market, addressing the demands of businesses that value internal infrastructure management, data security, and customizability. These software solutions are installed and operated within an organization's premises, granting users a significant degree of autonomy over their debt collection operations. Large enterprises, particularly those in regulated industries like finance and healthcare, prefer on-premises debt collection software to safeguard sensitive debtor information and adhere to stringent data privacy regulations. Companies such as DAKCS Software Systems Inc. (DAKCS) provide tailored on-premises debt collection solutions, catering to the unique security and regulatory needs of large enterprises. This level of customization is particularly appealing to complex debt collection operations within large enterprises. On-premises debt collection software enables organizations to maintain full control over their data and operations, which is essential for large enterprises adhering to strict IT policies and security protocols. Providers like CDS Software offer extensive on-premises debt collection software, empowering large enterprises to manage their debt collection processes while ensuring data security and integrity. The need for direct control over data and operations, combined with the ability to customize software to align with specific business processes, is expected to fuel the growth of the on-premises segment in the global debt collection software market. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Debt Collection Software market is witnessing significant growth due to the automation of debt collection processes, providing large enterprises with economies of scale and affordability. This market caters to both services and solutions segments, offering debt collection services and software solutions to organizations. The deployment of debt collection software streamlines the loan recovery process, enabling effective communication through multichannel methods. Borrower data management is crucial, and these systems provide features like overdue invoice reminders, phone calls, and online payment collection. Banking and financial organizations benefit greatly from these solutions, increasing productivity and improving the effectiveness of debt recovery. However, implementing debt collection software comes with complexities, including business-specific needs, training, and implementation work. Legacy systems and modern applications must be considered during strategy development. The debt collection ecosystem requires a well-thought-out plan for successful implementation. Market Research Overview The Debt Collection Software market is witnessing significant growth due to the automation of debt collection processes, which helps organizations streamline their loan recovery process and improve productivity. The large enterprises segment is a major contributor to the market's growth, as they can leverage economies of scale and affordability. The market offers both solutions and services segments, with debt collection services being a popular choice for organizations seeking expert assistance in managing their debt collection journeys. The deployment of debt collection software involves careful strategy and implementation, taking into account business-specific needs and the complexities of the debt collection ecosystem. Modern applications replace legacy systems, offering online payment collection, overdue invoice reminders, and multichannel communication options like phone calls, text messaging, voice mail drops, and dialers. Implementation work includes training and adherence to debt collection regulations, consumer protection laws, bankruptcy status, and litigious consumers. The market caters to banking organizations, financial institutions, government organizations, and other entities, providing effective debt recovery and cost savings through automatic monitoring, notifications, and alerts. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation DeploymentOn-premisesCloud-basedIndustry ApplicationSmall And Medium EnterprisesLarge EnterprisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaComponentEnterprise sizeEnd-user 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/debt-collection-software-market-to-grow-by-usd-2-31-billion-2024-2028-driven-by-rising-npls-and-ai-powered-market-evolution---technavio-302327886.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Gaming Market projected to grow by USD 117.2 Billion (2024-2028), driven by AR and VR game adoption, report highlights AI's role in market evolution - Technavio

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global gaming market size is estimated to grow by USD 117.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.56% during the forecast period. Growing adoption of AR and VR games is driving market growth, with a trend towards increasing emergence of cloud gaming. However, regulation of loot boxes poses a challenge. Key market players include Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., Bowlero Corp., Chicago Gaming Co., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Netmarble Corp., Niantic Inc., Nintendo Co., Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., The Walt Disney Co., Ubisoft Entertainment SA, Zeptolab UK Ltd, NVIDIA Corporation; Valve Corporation.; PlayJam Ltd.; Bluestack Systems, Inc.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Type (Casual gaming and Professional gaming), Platform (Online and Offline), Device (Mobile gaming, Console gaming, and PC gaming), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) Region Covered APAC, North America, Europe, Middle East and Africa, and South America Key companies profiled Activision Blizzard Inc., Apple Inc., Bandai Namco Holdings Inc., Bowlero Corp., Chicago Gaming Co., DeNA Co. Ltd., Electronic Arts Inc., Epic Games Inc., GungHo Online Entertainment Inc., Microsoft Corp., NetEase Inc., Netmarble Corp., Niantic Inc., Nintendo Co., Ltd., Rovio Entertainment Corp., Sony Group Corp., Square Enix Holdings Co. Ltd., The Walt Disney Co., Ubisoft Entertainment SA, and Zeptolab UK Ltd., NVIDIA Corporation; Valve Corporation.; PlayJam Ltd.; Bluestack Systems, Inc.. Key Market Trends Fueling Growth Cloud gaming is a modern approach to access and play video games, which are hosted on remote servers and streamed to Internet-connected devices. This technology allows users to enjoy a vast library of gaming titles without the need for expensive hardware or complicated setups. With the increasing popularity of social media and mobile gaming, cloud gaming has gained significant traction. Grid computing facilitates the delivery of content to users via wired or wireless broadband connections. Cloud gaming offers several advantages over traditional console gaming. First, it eliminates the hassle of installing games, applying patches, or dealing with game discs. Second, it provides click-to-play simplicity, enabling users to access a wide range of titles with ease. Third, cloud gaming supports multi-device gaming, allowing users to play high-quality games on PCs, tablets, TVs, and smartphones with minimal latency. Moreover, cloud gaming eliminates the need for high-performance graphic cards and frequent PC upgrades. Instead, games are streamed continuously from the cloud, enabling users to access them on devices with less storage and processing capacity. This feature makes cloud gaming an attractive option for non-core gamers who primarily use social media and mobile devices. In conclusion, the emergence of cloud gaming will drive the growth of the global gaming market due to its cost-effective price structure, simplicity, and accessibility across multiple devices. Cloud gaming offers a convenient and hassle-free gaming experience, making it an attractive alternative to traditional console gaming. The gaming market is witnessing exciting trends in 2023. Painting and crafting games are popular, with 4G connectivity enabling mobile gamers to play on smartphones and tablets, including iPads. Mobile cellular subscriptions continue to rise, fueling the growth of mobile games, especially shooter, action, sports, role-playing titles with 3D realistic graphics and attractive weapons. Tactical missions and multiplayer game functionality are in demand. Education courses are integrating gaming into learning. Technology advancements like 5G and improved graphics are driving innovation. Game developers create on cloud platforms, offering online gaming through platforms and apps on Android and iOS. Addiction issues and social anxiety remain concerns. New genres like hypercasual games and virtual reality (VR) and augmented reality (AR) are emerging. Tencent leads the industry, and cloud gaming services are gaining traction. The game creation process is becoming more accessible, enabling a new generation of designers. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges * The global gaming market faces regulatory challenges regarding loot boxes, virtual items bought with real money for randomized in-game rewards. While enhancing gaming experience for some, they've been criticized for promoting gambling and exploiting vulnerable individuals, including children. In 2020, the UK government classified loot boxes as gambling, regulating them. The Belgian Gaming Commission banned them outright, while Australia and the Netherlands imposed regulations. These actions impact game developers and publishers, requiring modifications to comply. Player behavior may change, with some hesitant to buy regulated loot boxes. This could restrict market growth in the forecast period. * The gaming market is thriving with new challenges and opportunities. Hypercasual games continue to dominate Android and iOS apps, with Tencent leading the charge. Technology advancements have streamlined the game creation process, allowing for cloud platforms and online gaming on tablets. Improved graphics, virtual reality (VR), and augmented reality (AR) are revolutionizing game design and new genres. Storytelling, graphics, gameplay, and entertainment remain key drivers, providing stress relief, teamwork, sense of achievement, self-satisfaction, joy, and traction for players of all ages. From kids to older adults, gaming is a popular form of home entertainment, especially during leisure activities and family game time. Indoor games are increasingly popular, particularly for the youth population and those seeking indoor leisure activities. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This gaming market report extensively covers market segmentation by Type 1.1 Casual gaming1.2 Professional gamingPlatform 2.1 Online2.2 OfflineDevice 3.1 Mobile gaming3.2 Console gaming3.3 PC gamingGeography 4.1 APAC4.2 North America4.3 Europe4.4 Middle East and Africa4.5 South America 1.1 Casual gaming- The casual gaming market refers to the segment of video games that do not demand extensive time commitment from players. Casual gamers are individuals who enjoy playing games without investing significant resources or time. Companies providing casual gaming services generate revenue by licensing gaming software to end-users. The casual gaming sector is expanding due to the rising popularity of mobile gaming. Unlike dedicated gamers, casual gamers do not invest in gaming peripherals. They prefer mobile devices over PCs and consoles due to easy access to games. Many casual gamers opt for online mobile gaming, enabling them to play their preferred games from anywhere at any time. The accessibility of casual games, their ease of use, and their compatibility with various devices have made them popular among a broad audience. Additionally, the social interaction aspect of casual games, where players can engage with friends or family, adds an extra layer of enjoyment. For instance, Player Unknown's Battlegrounds (PUBG) is a successful online multiplayer battle royale game that offers social interaction opportunities. Players can communicate using voice chat, enhancing the gaming experience, particularly when playing with friends. This social element contributes to the overall growth of the casual gaming market. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The gaming market is a thriving industry that provides endless entertainment for people of all ages and backgrounds. With the rise of home entertainment systems, video games have become a popular form of stress relief and a source of joy for kids and older adults alike. For the youth population, gaming offers a sense of achievement, self-satisfaction, and social connection through teamwork and multiplayer games. The market caters to various genres, including shooter, action, sports, role-playing, and educational courses, with 3D realistic graphics and tactical missions adding to the experience. The advent of mobile phones, tablets, and 5G technology has made gaming more accessible than ever before, according to the latest GSMA report. Whether it's for family game time, indoor activities, or a way to combat social anxiety, gaming offers something for everyone. Market Research Overview The gaming market is a vibrant and ever-evolving industry that offers a world of entertainment for people of all ages. From kids to older adults, video games provide a sense of joy, achievement, and self-satisfaction. They serve as an excellent stress reliever and a way to foster teamwork and social connections. With the rise of home entertainment systems and advanced technology, gaming has become a popular leisure activity for individuals and families. Indoor games, including painting, crafting, and mobile games, have gained significant traction, especially during the pandemic. The youth population and internet users are particularly drawn to mobile gaming, with smartphones and tablets becoming essential tools for accessing games. However, concerns around addiction issues and intense gaming can lead to negative consequences, such as social anxiety and isolation. Technology advancements, including 4G connectivity, mobile cellular subscriptions, and the emergence of 5G, have revolutionized the gaming landscape. Cloud gaming services and mobile gaming have become increasingly popular, with new genres and game worlds offering experiences. Game developers continue to push the boundaries of storytelling, graphics, and gameplay, incorporating virtual reality (VR) and augmented reality (AR) into their creations. The game creation process has become more accessible with cloud platforms and online gaming platforms, enabling individuals to design and develop their games. The gaming industry is constantly evolving, with new trends, technologies, and genres emerging regularly. Whether it's action, sports, role-playing, or tactical missions, there's a game for every preference and skill level. Attractive weapons, multiplayer functionality, and 3D realistic graphics add to the overall gaming experience. Education courses and game design programs also offer opportunities for individuals to learn and grow within the industry. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation TypeCasual GamingProfessional GamingPlatformOnlineOfflineDeviceMobile GamingConsole GamingPC GamingGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/gaming-market-projected-to-grow-by-usd-117-2-billion-2024-2028-driven-by-ar-and-vr-game-adoption-report-highlights-ais-role-in-market-evolution---technavio-302324772.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

AI in Games Market to grow by USD 4.5 Billion from 2024-2028, fueled by rising adoption of AR and VR games, Report on AI-driven market evolution - Technavio

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global AI in games market size is estimated to grow by USD 4.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 24.65% during the forecast period. Growing adoption of ar and vr games is driving market growth, with a trend towards increasing emergence of cloud gaming. However, network latency in between games poses a challenge. Key market players include Alphabet Inc., Capcom Co. Ltd., Charisma Entertainment Ltd., COGNOSPHERE PTE. LTD., Electronic Arts Inc., Konami Group Corp., Latitude, Microsoft Corp., NetEase Inc., Nintendo Co. Ltd., NVIDIA Corp., PrometheanAI Inc., Side Effects Software Inc., Sony Group Corp., Take Two Interactive Software Inc., Tencent Holdings Ltd., Theai Inc., Ubisoft Entertainment SA, Unity Software Inc., and Vivendi SE. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF AI In Games Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 24.65% Market growth 2024-2028 USD 4501.72 million Market structure Fragmented YoY growth 2022-2023 (%) 22.96 Regional analysis North America, APAC, Europe, South America, and Middle East and Africa Performing market contribution North America at 44% Key countries US, China, Japan, UK, and Germany Key companies profiled Alphabet Inc., Capcom Co. Ltd., Charisma Entertainment Ltd., COGNOSPHERE PTE. LTD., Electronic Arts Inc., Konami Group Corp., Latitude, Microsoft Corp., NetEase Inc., Nintendo Co. Ltd., NVIDIA Corp., PrometheanAI Inc., Side Effects Software Inc., Sony Group Corp., Take Two Interactive Software Inc., Tencent Holdings Ltd., Theai Inc., Ubisoft Entertainment SA, Unity Software Inc., and Vivendi SE Market Driver Cloud gaming's adoption is growing due to its accessibility and cost-effective structure. Grid computing enables streaming of high-quality games to devices via wired or wireless connections. Cloud gaming eliminates the need for expensive hardware and offers click-to-play simplicity. AI plays a crucial role in optimizing cloud costs and enhancing gaming experiences. The global AI in games market will benefit from this trend, with AI-driven techniques like auto-scaling and cost visualization helping businesses control expenses. The AI market in the games industry is experiencing significant growth. With the integration of Virtual Reality (VR) and Augmented Reality (AR), games have become more interactive and engaging. Real-time analytics and machine learning technologies are used to enhance the player experience. Two prominent AI applications are NPCs (Non-Player Characters) and predictive analytics. NPCs provide realistic and dynamic gameplay, while predictive analytics help players improve their performance. Companies are investing in AI to create and personalized gaming experiences. The use of cloud computing and GPUs (Graphics Processing Units) enables the processing of large amounts of data in real-time. The future of AI in games is bright, with advancements in natural language processing and computer vision set to revolutionize the industry. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges * The AI in Games market experiences a major hurdle in the form of network latency. This delay between a player's action and the game server's response can negatively impact gameplay, particularly in multiplayer scenarios. Factors contributing to latency include internet connection quality, geographical distance, network infrastructure, player numbers, and server load. Despite its impact on market growth during the forecast period, efforts are ongoing to mitigate latency and enhance user experience. * In the rapidly growing AI in games market, developers face several challenges. They need to ensure that AI-powered gameforms are engaging and realistic, requiring complex programming and large datasets. Data collection and management is a significant challenge, as is ensuring that AI systems can adapt and learn in real-time. Additionally, integrating AI into existing game engines and ensuring compatibility with various platforms can be difficult. Furthermore, privacy concerns and ethical considerations must be addressed when implementing AI in games. Overall, the integration of AI in games presents numerous opportunities, but also requires careful planning and execution to overcome these challenges. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This ai in games market report extensively covers market segmentation by Type 1.1 AI enabled platforms1.2 AI enabled gamesTechnology 2.1 Machine learning2.2 Natural language processing2.3 Computer vision2.4 RoboticsGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa 1.1 AI enabled platforms- AI platforms in the gaming industry facilitate the development, deployment, and maintenance of deep learning and machine learning models. These tools enable faster and more accurate data analysis, prediction, and action-taking, enhancing game production. Companies like Microsoft and Alphabet AI lead this change, offering advanced graphics, real-time interactions, and player behavior insights. AI's impact on game immersion and realism, through ray tracing and AI-powered virtual characters, is driving market growth during the forecast period. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The AI in Games market is experiencing significant growth, with advancements in AI algorithms, machine learning, and deep learning driving innovation. Virtual and augmented reality technologies, such as Microsoft HoloLens 2, are integrating AI to provide experiences. AI-generated content, including 3D representations and image upscaling, is enhancing the gaming experience. Euphoria, a middleware system, is utilizing AI to create realistic character behaviors. Games like Cyberpunk 2077, Battlefield V, Red Dead Redemption 2, and others are leveraging AI technologies, including neural networks and ray tracing, to deliver more engaging and predictive gameplay. Network latency is being addressed through AI-enabled platforms, while GPUs and CPUs continue to play crucial roles in powering 3D games. Data analysis and prediction are key applications of AI in gaming, providing personalized experiences for players. Market Research Overview The AI in Games market refers to the integration of artificial intelligence technology in the development and creation of video games. This includes the use of machine learning algorithms for character behavior, non-player character interactions, and game design. AI in games can enhance the player experience by creating more realistic and dynamic game environments. It can also be used for game development tools, such as procedural content generation and game balancing. The use of AI in games is becoming increasingly popular, with many developers exploring its potential to create and engaging gaming experiences. The applications of AI in games span across various genres, from strategy and role-playing games to first-person shooters and sports simulations. The future of AI in games holds great promise, with advancements in technology expected to lead to even more sophisticated and interactive gaming experiences. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation TypeAI Enabled PlatformsAI Enabled GamesTechnologyMachine LearningNatural Language ProcessingComputer VisionRoboticsGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-in-games-market-to-grow-by-usd-4-5-billion-from-2024-2028--fueled-by-rising-adoption-of-ar-and-vr-games-report-on-ai-driven-market-evolution---technavio-302325013.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Green Data Center (GDC) Market to grow by USD 202.4 Billion from 2024-2028, driven by rising electricity costs and AI redefining the market landscape - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global green data center (GDC) market size is estimated to grow by USD 202.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.17% during the forecast period. Increase in electricity consumption and cost is driving market growth, with a trend towards increased use of dcim and automation. However, cost of building green data center poses a challenge. Key market players include ABB Ltd., Carrier Global Corp., Cisco Systems Inc., CommScope Holding Co. Inc., Dell Technologies Inc., Delta Electronics Inc., Eaton Corp. Plc, Fujitsu Ltd., Green Revolution Cooling Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., Modine Manufacturing Co., Panduit Corp., Rittal GmbH and Co. KG, Schneider Electric SE, Siemens AG, STULZ GmbH, Sunbird Inc., and Vertiv Holdings Co.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Component (IT infrastructure, Power solutions, General construction, Cooling solutions, and Monitoring and management), End-user (BFSI, Energy, IT and telecom, and Others), and Geography (Europe, North America, APAC, South America, and Middle East and Africa) Region Covered Europe, North America, APAC, South America, and Middle East and Africa Key companies profiled ABB Ltd., Carrier Global Corp., Cisco Systems Inc., CommScope Holding Co. Inc., Dell Technologies Inc., Delta Electronics Inc., Eaton Corp. Plc, Fujitsu Ltd., Green Revolution Cooling Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., Modine Manufacturing Co., Panduit Corp., Rittal GmbH and Co. KG, Schneider Electric SE, Siemens AG, STULZ GmbH, Sunbird Inc., and Vertiv Holdings Co. Key Market Trends Fueling Growth The Green Data Center (GDC) market is thriving as businesses prioritize energy efficiency and environmental stewardship. GDCs use energy-efficient components like Uninterruptible Power Supply (UPS) and cooling systems in ECO mode or Active Standby. AI and ML enable predictive modeling and thermal optimization, while Eco-friendly solutions include renewable energy integration and hardware innovations. Media and entertainment, OTT platforms, and large data centers drive CapEx in GDCs. Cloud computing's green initiatives offer energy-efficient data processing and storage. Digital transformation, environmental regulations, and tax benefits push corporations towards net carbon neutrality. Renewable energy sources like solar panels, wind turbines, and hydroelectric plants power GDCs. Virtualization, intelligent cooling systems, and power management reduce carbon footprint. Consultation services and monitoring systems help businesses navigate this transition. Large enterprises embrace CSR, risk management, and 5G technology. Big data analytics, IoT, healthcare, e-commerce, and colocation providers join the movement towards energy-efficient solutions. Greenhouse gas emissions are minimized through resource management and power systems. Networking systems and colocation data centers adopt renewable energy integration and modular infrastructure. Environmental laws mandate carbon emissions reduction, driving the demand for green data center solutions. Data Center Infrastructure Management (DCIM) software is a crucial tool for managing modern data center facilities. This software enables remote monitoring of various aspects of the data center, including temperature, humidity, and power consumption. Vendors in the Green Data Center (GDC) market offer advanced DCIM systems, which come with higher Capital Expenditure (CAPEX) compared to traditional systems. The importance of energy efficiency and reducing carbon emissions has made DCIM a necessary investment for data center operators. Colocation data center providers are particularly focusing on integrating advanced DCIM systems to effectively manage their facilities and ensure optimal energy usage. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges Green Data Centers (GDCs) are essential for businesses seeking energy-efficient and eco-friendly solutions for their data processing and storage needs. GDCs use energy-efficient components like Uninterruptible Power Supplies (UPS) and cooling systems in ECO mode or Active Standby to minimize energy consumption. AI and ML enable predictive modeling and thermal optimization for power efficiency. Media and entertainment, OTT platforms, and large data centers require significant capital expenditure, making GDCs a priority for businesses. Green initiatives, such as renewable energy integration and carbon footprint reduction, are crucial for Corporate Social Responsibility and risk management. Cloud computing, digital transformation, and IoT also benefit from GDCs' energy efficiency. Consultation services and monitoring systems help businesses navigate environmental regulations and tax benefits. Hardware and software innovations, like server virtualization, intelligent cooling systems, and power management, reduce carbon emissions and improve resource management. Renewable energy sources like solar panels, wind turbines, and hydroelectric plants power GDCs, contributing to net carbon neutrality. Colocation providers offer modular infrastructure and cooling technologies to accommodate various industries, including healthcare, e-commerce, and 5G technology. GDCs are essential for businesses aiming to reduce their carbon footprint, comply with environmental laws, and adopt sustainable practices. By integrating renewable energy and optimizing power systems and networking, businesses can save costs and enhance their environmental stewardship.Leading organizations in the Americas, including Facebook, Microsoft, Google, Intel, and Apple, have established data centers that utilize renewable energy sources. Current data centers in the US consume vast amounts of electricity, emitting millions of tons of carbon annually. Building a data center facility can cost up to 25% of an organization's IT budget, including IT equipment. The business requirement for data usage is growing yearly, leading to an 8%-10% increase in servers installed. Renewable energy adoption in data centers is crucial to reduce environmental impact and manage escalating costs. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This green data center (gdc) market report extensively covers market segmentation by Component1.1 IT infrastructure1.2 Power solutions1.3 General construction1.4 Cooling solutions1.5 Monitoring and managementEnd-user2.1 BFSI2.2 Energy2.3 IT and telecom2.4 OthersGeography3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 IT infrastructure- The digital transformation of businesses is driving the adoption of cloud services among small and medium enterprises (SMEs), with 90% expected to operate through cloud storage by 2025. Cloud computing requires substantial computational power but offers flexible, scalable, and efficient business operations. This has led to an increase in data center construction worldwide. Virtualization, a key enabler, has increased IT infrastructure usage in data centers while reducing energy consumption. For instance, Supermicro's MicroBlade systems helped Fortune 100 companies achieve energy efficiency of around 90%. Data center consolidation projects have also reduced server usage, while Open Compute Projects optimize infrastructure for workload and energy consumption. Techniques like direct-to-chip cooling and liquid-immersion cooling have significantly reduced cooling needs. In storage, replacing HDDs with SSDs and virtual networking applications have lowered power consumption. Vendors like Dell, HPE, Cisco, Huawei, Lenovo, and IBM offer energy-efficient, density-optimized infrastructures. Innovations in energy-efficient IT infrastructure will continue to fuel the growth of the global green data center market during the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis Green Data Centers (GDCs) are advanced computing facilities designed to minimize energy consumption and reduce carbon footprint. They utilize energy-efficient components such as Uninterruptible Power Supplies (UPS) and cooling systems in ECO mode or Active Standby, which save energy by optimizing power usage. Machine Learning and Artificial Intelligence are integrated for cooling power management, enhancing energy efficiency. GDCs comply with Environmental Regulations and offer tax benefits for net carbon neutrality. Renewable Energy integration is a key feature, making GDCs eco-friendly and reducing carbon emissions. Digital Services, IoT, Healthcare, E-commerce, and various industries benefit from GDCs' energy-efficient solutions. Cooling Technologies and Renewable Energy are integral to GDC infrastructure, with modular designs allowing for scalability and flexibility. The integration of digital transformation and carbon footprint reduction is essential for businesses aiming for a sustainable future. Market Research Overview The Green Data Center (GDC) market is witnessing significant growth due to the increasing demand for energy-efficient components in data centers. GDCs utilize Uninterruptible Power Supply (UPS) systems, cooling systems with ECO mode, Active Standby, and Economy mode for power efficiency. Artificial Intelligence (AI) and Machine Learning (ML) are used for predictive modeling and thermal optimization. Energy efficiency is a top priority with the integration of renewable energy sources like Solar Panels, Wind Turbines, and Hydroelectric Plants. Large data centers in media and entertainment, OTT platforms, and content delivery require green initiatives for Capital Expenditure reduction and Net Carbon Neutrality. Greenhouse Gas Emissions are minimized through hardware and software innovations, virtualization, and intelligent cooling systems. Consultation services, monitoring systems, and colocation providers offer eco-friendly solutions for large enterprises focusing on Corporate Social Responsibility, Risk Management, and Digital Transformation. Environmental Regulations and tax benefits drive the adoption of GDCs in various industries, including 5G Technology, Big Data Analytics, Healthcare, E-commerce, and IoT. Renewable Energy Integration, Modular Infrastructure, and Power Management are essential components of GDCs, reducing Carbon Emissions and adhering to Environmental Laws. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation ComponentIT InfrastructurePower SolutionsGeneral ConstructionCooling SolutionsMonitoring And ManagementEnd-userBFSIEnergyIT And TelecomOthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/green-data-center-gdc-market-to-grow-by-usd-202-4-billion-from-2024-2028--driven-by-rising-electricity-costs-and-ai-redefining-the-market-landscape---technavio-302322461.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Building Automation and Control Systems Market to grow by USD 31.12 Billion from 2024-2028, driven by energy efficiency demand and AI-powered market evolution - Technavio

NEW YORK, Dec. 6, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global building automation and control systems market size is estimated to grow by USD 31.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.71% during the forecast period. Demand for energy efficiency is driving market growth, with a trend towards increase in use of personnel assistant in residential buildings. However, high installation cost poses a challenge. Key market players include ABB Ltd., Bajaj Electricals Ltd., BuildingLogiX, Emerson Electric Co., Evon Technologies Pvt. Ltd., FORESCOUT, Honeywell International Inc., IoEnergy Inc., Itron Inc., Johnson Controls International Plc., KMC Controls Inc., Legrand, Lutron Electronics Co. Inc., Mode Green Integrated Building Technology, OptergyA, PointGrab Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Building Automation And Control Systems Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 8.71% Market growth 2024-2028 USD 31119.3 million Market structure Fragmented YoY growth 2022-2023 (%) 7.82 Regional analysis Europe, North America, APAC, Middle East and Africa, and South America Performing market contribution North America at 30% Key countries US, UK, China, Germany, and Canada Key companies profiled ABB Ltd., Bajaj Electricals Ltd., BuildingLogiX, Emerson Electric Co., Evon Technologies Pvt. Ltd., FORESCOUT, Honeywell International Inc., IoEnergy Inc., Itron Inc., Johnson Controls International Plc., KMC Controls Inc., Legrand, Lutron Electronics Co. Inc., Mode Green Integrated Building Technology, OptergyA, PointGrab Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG Market Driver The Building Automation and Control Systems (BACS) market in the residential sector is experiencing significant growth due to the increasing trend of transforming homes into smart residences. Amazon's Alexa and Google Home are leading the way with their personnel assistant devices, enabling users to connect and control various smart home appliances via the internet and voice commands. These devices function as controllers for lighting systems and thermostats, while also offering additional features such as setting alarms and taking notes. The market is projected to expand at a Compound Annual Growth Rate (CAGR) of 11.61% during the forecast period, driven by the popularity of smart homes. The Building Automation and Control Systems market is thriving, driven by the increasing use of sensors, detectors, relays, and smart electronics in office buildings, shopping centers, public transportation hubs, airports, and train stations. Core competencies include HVAC Control, Lighting Control, and Security Access Control. Material types and industry verticals, such as Residential, Hospitality, and Energy consumption, are key factors. Technology growth is fueled by integrated systems, real estate assets, semiconductor chips, and construction sector. Remote monitoring, energy efficiency, interconnected systems, and international energy agency are shaping the future of this industry. Smart appliances, urbanization, energy management systems, and monitoring are also trends to watch. The market is expected to grow significantly due to the need for cost savings and energy efficiency. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The Building Automation and Control Systems Market growth may be impeded due to the high cost of installation and the variability of solutions. End-users often hesitate to invest in these systems due to the lengthy recovery period. This economic constraint could impact vendors' revenue during the forecast period. Despite these challenges, the market continues to offer significant benefits, such as energy efficiency and improved operational control, making it an attractive investment for businesses seeking to optimize their facilities.Building Automation and Control Systems Market: Overcoming Challenges for Smarter, Safer, and Sustainable Buildings The Building Automation and Control Systems (BACS) market is growing rapidly due to the increasing demand for energy-efficient, comfortable, and secure buildings. However, the market faces several challenges that need to be addressed for continued growth. Cyberattacks and malware attacks pose significant risks to BACS, threatening data security and system reliability. Sanitization systems and security protocols are essential to mitigate these risks. Operations in HVAC and energy systems require seamless integration of hardware and software, including electronic devices, lighting, and safety systems. In the residential, commercial, and industrial segments, facility management is crucial to ensure building sustainability and meet carbon-neutral goals. Supply chain disruptions and manufacturing company challenges can impact the availability of hardware and software components. Real-time monitoring and condition-based maintenance are essential to minimize downtime and ensure optimal performance. 5G technology offers opportunities for faster and more reliable communication between devices, enabling energy-efficient buildings, de-carbonization, and building sustainability. Safety systems, including safety alarms and access management, are essential for ensuring occupant safety and health. The commercial industry's focus on energy-efficient building design and green building concepts presents significant business opportunities for BACS providers. The BACS market's challenges include addressing cybersecurity risks, integrating hardware and software components, ensuring supply chain reliability, and providing cost-effective solutions for maintenance, repair, and construction activities. Technology innovation and collaboration between stakeholders are key to overcoming these challenges and driving market growth. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This building automation and control systems market report extensively covers market segmentation by End-user 1.1 Commercial buildings1.2 Residential buildings1.3 Government buildings1.4 Other buildingsType 2.1 Integration2.2 ServicesGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America 1.1 Commercial buildings- Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Building Automation and Control Systems (BACS) market is experiencing significant growth due to the increasing focus on energy efficiency and sustainability in both commercial and residential buildings. With the rising energy consumption and operating costs, integrated systems that manage HVAC, lighting, safety, and security are becoming essential for real estate assets. The market is driven by the adoption of electronic devices and software, as well as the integration of hardware components such as sensors and actuators. Technology advancements, including 5G technology and energy-efficient buildings, are key factors fueling market growth. Core competencies of BACS include HVAC Control, Lighting Control, and Security Access Control. Material types and industry verticals, such as residential and hospitality, are also important considerations. Safety systems, air conditioning, and lighting are critical components of BACS, with energy efficiency and building sustainability being key priorities. De-carbonization is also a significant trend, as the industry seeks to reduce greenhouse gas emissions and promote a more sustainable future. Overall, the BACS market is poised for continued growth as the demand for energy-efficient and intelligent building solutions increases. Market Research Overview Building Automation and Control Systems (BACS) market is witnessing significant growth due to the increasing focus on energy consumption and operating costs reduction in various industry verticals. Technology growth in integrated systems, real estate assets, and urbanization is driving the demand for energy efficiency and interconnected systems. The International Energy Agency reports that energy consumption in buildings accounts for nearly 40% of global energy usage. Semiconductor chips and smart appliances are integral components of BACS, enabling remote monitoring and energy management systems. The construction sector is adopting BACS for safety systems, HVAC systems, and lighting control in energy-efficient buildings. The commercial and industrial segments are investing in BACS for facility management, access management, and condition-based maintenance of electrical appliances. The green building concept and carbon-neutral goals are further boosting the market growth. However, cyberattacks and malware attacks pose a significant threat to the operations of BACS. The manufacturing companies are focusing on real-time monitoring, 5G technology, and supply chain disruptions to mitigate risks and seize business opportunities. The market offers significant potential for growth in various construction activities, including office buildings, shopping centers, public transportation hubs, airports, and train stations. The core competencies of BACS include HVAC Control, Lighting Control, and Security Access Control. The material type and industry vertical, such as Residential, Hospitality, and others, also influence the market dynamics. Safety, comfort, and security are the primary concerns for building automation and control systems in various industry verticals. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation End-userCommercial BuildingsResidential BuildingsGovernment BuildingsOther BuildingsTypeIntegrationServicesGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/building-automation-and-control-systems-market-to-grow-by-usd-31-12-billion-from-2024-2028--driven-by-energy-efficiency-demand-and-ai-powered-market-evolution---technavio-302324342.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Electric Vehicle Supply Equipment (EVSE) Market to grow by USD 92.31 Billion from 2024-2028, driven by favorable government policies and AI-powered market evolution - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global electric vehicle supply equipment (EVSE) market size is estimated to grow by USD 92.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 30.8% during the forecast period. Favorable government policies and subsidies is driving market growth, with a trend towards deployment of smart grids for EVS. However, lack of standardization of ev charging poses a challenge. Key market players include ABB Ltd., Alfen NV, Blink Charging Co., BP Plc, ChargePoint Holdings Inc., Chroma ATE Inc., Comeca Group, Delta Electronics Inc., Eaton Corp. Plc, Efacec Power Solutions SGPS SA, Enphase Energy Inc., E.ON SE, Leviton Manufacturing Co. Inc., LS Power Development LLC, Phihong USA Corp., Schneider Electric SE, Shell plc, Siemens AG, Webasto SE, and ZF Friedrichshafen AG. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Electric Vehicle Supply Equipment (Evse) Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 30.8% Market growth 2024-2028 USD 92309 million Market structure Fragmented YoY growth 2022-2023 (%) 29.01 Regional analysis APAC, North America, Europe, South America, and Middle East and Africa Performing market contribution APAC at 46% Key countries China, US, France, Germany, and The Netherlands Key companies profiled ABB Ltd., Alfen NV, Blink Charging Co., BP Plc, ChargePoint Holdings Inc., Chroma ATE Inc., Comeca Group, Delta Electronics Inc., Eaton Corp. Plc, Efacec Power Solutions SGPS SA, Enphase Energy Inc., E.ON SE, Leviton Manufacturing Co. Inc., LS Power Development LLC, Phihong USA Corp., Schneider Electric SE, Shell plc, Siemens AG, Webasto SE, and ZF Friedrichshafen AG Market Driver The Electric Vehicle Supply Equipment (EVSE) market is experiencing significant growth as the shift towards electric vehicles (EVs) continues. Charging stations and docks are essential for EVs, requiring electrical conductors and related equipment to transfer electric power to the vehicle's batteries. EVSE systems adhere to various communications protocols, such as DC Fast Chargers, and are used by major stakeholders like auto manufacturers, electric utilities, commercial fleets, public transit, retail establishments, seaports, airports, bus depots, hotels, parks, highways, corporate offices, homes, and more. NEMA Members are involved in the development of codes, rating systems, and standards for EVSE infrastructure. Contractors and installers require training programs to ensure proper installation. Incentives like tax benefits and subsidies encourage EV adoption. IEA reports show electric car sales increasing, with passenger car sales from automobile manufacturers being impacted by the shutdown of operations due to liquidity issues and carbon emission concerns. Smart cities aim to reduce reliance on non-renewable sources like crude oil and CO2 emission, leading to the growth of the EVSE market. Charging station finance, types like normal charging, supercharging, and inductive charging, and installation types like fixed chargers and portable chargers, are key areas of focus. The novel coronavirus pandemic has affected import-export and the workforce, leading to a supply-demand gap. Future estimations indicate investment pockets in EVSE market, especially in charging infrastructure development. The Electric Vehicle Supply Equipment (EVSE) market is witnessing significant growth due to the increasing adoption of electric vehicles (EVs) and the deployment of advanced charging infrastructure, specifically smart grids. Smart grids enable real-time communication between EV charging stations and the power grid, providing crucial information on load requirements and power quality. This data supports the integration of variable generation technologies and serves as a foundation for Vehicle-to-Grid (V2G) infrastructure, which includes grid applications like smart energy meters, SCADA systems, IT, and communication networks. The implementation of smart grids is expanding rapidly in countries such as China, the US, India, Spain, Germany, and France. For instance, in August 2021, Singapore Power initiated a V2G pilot project to explore the potential of EVs as small energy storage systems, addressing renewable energy's intermittency. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The Electric Vehicle Supply Equipment (EVSE) market is witnessing significant growth due to the increasing adoption of electric vehicles (EVs). Challenges in this market include the need for advanced charging stations and docks, reliable electrical conductors, and related equipment. Communication protocols, such as DC Fast Charger and NEMA Members, are essential for seamless integration with EVSE infrastructure. Major stakeholders include auto manufacturers, electric utilities, and charging station installers. Training programs for contractors and installers are crucial to ensure proper installation and maintenance of EVSE systems. Codes, rating systems, and standards play a vital role in ensuring safety and interoperability. Major players in the market include Andrei Moldoveanu and Resources. Commercial fleets, public transit, retail establishments, seaports, airports, bus depots, hotels, parks, highways, corporate offices, and homes are potential customers for EVSE. Batteries, incentives, tax benefits, and subsidies are key factors driving EV sales. The IEA estimates electric car sales to surpass passenger car sales by 2035. However, challenges include the shutdown of operations due to the novel coronavirus, supply-demand gap, and the shift from non-renewable sources like crude oil and fossil fuel. Charging station finance, charging station type (normal charging, supercharging, and inductive charging), installation type (fixed charger and portable charger), and the impact of import-export, workforce, factories, testing of systems, and the supply-demand gap are other critical factors. The future of the EVSE market lies in investment pockets, smart cities, and the transition away from carbon emission, ICE vehicles, and road tax, purchase tax, and registration fees.The Electric Vehicle Supply Equipment (EVSE) market faces a significant challenge due to the lack of standardization in EV charging infrastructure. Vendors are actively expanding charging networks, but the absence of universal EV charger and installation standards in public places is a concern. Each region or market has distinct charging standards, such as CHAdeMO in Japan, CCS in Europe, the US, and South Korea, and GB/T 20234 in China, which is similar to the IEC 62196 standard in Germany. Standardization is crucial to streamline the EV charging experience and ensure compatibility among various EV models and charging networks. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This electric vehicle supply equipment (evse) market report extensively covers market segmentation by Type1.1 Level 21.2 Level 11.3 Level 3Application2.1 Residential2.2 CommercialGeography3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa 1.1 Level 2- Level 2 charging refers to the electric vehicle supply equipment that delivers power at a higher voltage (240 volts, AC) and amperage than a standard household power outlet. This infrastructure caters to both residential and commercial applications, providing a convenient and reliable charging solution for electric vehicle owners. Level 2 charging stations are commonly found in parking garages, workplaces, public locations like shopping centers, universities, and hotels. These charging stations offer faster and more efficient charging, enabling EV owners to charge their vehicles while they park, work, or engage in daily activities. Companies and parking garage operators recognize the growing demand for EV charging and are installing level 2 charging stations to accommodate their customers and employees. Homeowners can also install level 2 charging stations in their garages or driveways for a convenient and fast charging solution. The increasing popularity of level 2 charging infrastructure is expected to fuel the growth of the level 2 segment in the global electric vehicle supply equipment market. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Electric Vehicle Supply Equipment (EVSE) market refers to the infrastructure required to charge electric vehicles (EVs), including charging stations, charging docks, and related equipment. These systems facilitate the transfer of electric power from the grid to the vehicle's batteries. EVSE systems consist of electrical conductors and other necessary components. EVSE is essential for various sectors such as Bus depots, Hotels, Parks, Highways, Corporate offices, Homes, and more. Batteries are an integral part of the EV ecosystem, and EVSE plays a crucial role in their charging. Governments and organizations offer incentives like tax benefits to promote the adoption of EVs and EVSE. EVSE includes different charging technologies like Supercharging, Inductive charging, Fixed chargers, and Portable chargers. The EVSE market has been impacted by the Novel Coronavirus pandemic, with import-export and non-essential items facing disruptions. The workforce involved in EVSE manufacturing and installation has also been affected. Market Research Overview The Electric Vehicle Supply Equipment (EVSE) market refers to the infrastructure required to charge electric vehicles (EVs), including charging stations, charging docks, and related equipment. EVSE systems utilize electrical conductors and communications protocols to transfer electric power from the grid to the vehicle's batteries. DC Fast Chargers are a popular type of EVSE, providing quick charging solutions for long-distance travel. NEMA Members and major stakeholders, such as auto manufacturers, electric utilities, commercial fleets, public transit, retail establishments, seaports, airports, bus depots, hotels, parks, highways, corporate offices, homes, and batteries, are major players in the EVSE infrastructure development. Incentives like tax benefits, subsidies, and codes and rating systems are crucial for the growth of the EVSE market. EVSE standards and training programs for contractors and installers ensure safe and efficient installation and maintenance. Major challenges include the supply-demand gap, liquidity issues, and the shift from ICE vehicles to EVs. The COVID-19 pandemic has impacted the EVSE market, affecting import-export and non-essential items. The future of the EVSE market depends on the continued growth of electric car sales, the transition away from non-renewable sources like crude oil, and the development of smart cities. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation TypeLevel 2Level 1Level 3ApplicationResidentialCommercialGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/electric-vehicle-supply-equipment-evse-market-to-grow-by-usd-92-31-billion-from-2024-2028--driven-by-favorable-government-policies-and-ai-powered-market-evolution---technavio-302322433.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs

Hydrogen Generation Market to grow by USD 49.7 Billion from 2024-2028, driven by fertilizer demand and AI-driven market transformation - Technavio

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global hydrogen generation market size is estimated to grow by USD 49.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.52% during the forecast period. Growing demand for fertilizers is driving market growth, with a trend towards reduction in fuel cell prices. However, changes in government policies and regulations poses a challenge. Key market players include Air Liquide SA, Air Products and Chemicals Inc., Claind Srl, Cummins Inc., FuelCell Energy Inc., Green Hydrogen Systems, Hiringa Energy Ltd., Hyster Yale Materials Handling Inc., ITM Power PLC, Iwatani Corp., Linde Plc, Mahler AGS GmbH, McPhy Energy SA, Messer SE and Co. KGaA, Mitsubishi Chemical Group Corp., Nel ASA, Parker Hannifin Corp., Resonac Holdings Corp., Teledyne Technologies Inc., and Xebec Adsorption Inc.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Delivery Mode (Merchant and Captive), Application (Chemical industry, Refinery industry, Metal processing industry, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America) Region Covered APAC, Europe, North America, Middle East and Africa, and South America Key companies profiled Air Liquide SA, Air Products and Chemicals Inc., Claind Srl, Cummins Inc., FuelCell Energy Inc., Green Hydrogen Systems, Hiringa Energy Ltd., Hyster Yale Materials Handling Inc., ITM Power PLC, Iwatani Corp., Linde Plc, Mahler AGS GmbH, McPhy Energy SA, Messer SE and Co. KGaA, Mitsubishi Chemical Group Corp., Nel ASA, Parker Hannifin Corp., Resonac Holdings Corp., Teledyne Technologies Inc., and Xebec Adsorption Inc. Key Market Trends Fueling Growth The Hydrogen Generation Market is experiencing significant growth due to increasing focus on reducing Greenhouse Gas (GHG) emissions, particularly Carbon Dioxide (CO2) from Electricity production and Heavy Industry. Infrared radiation technology is a trending solution for GHG reduction in hydrogen production. Prominent companies like Air Liquide are leading the way with Coal Gasification and Electrolysis. The Biorefinery sector is also adopting hydrogen for Ammonia and Methanol production. Despite inflation, the Industrial sector's energy consumption drives the market. Green Hydrogen Policy initiatives are boosting demand. Technological advancements in renewable sources like wind and solar power are making hydrogen production cost-effective. Key players like Air Liquide, Siemens Energy, and Linde are making contracts and acquisitions to expand their market share. Hydrogen energy storage and heat production are gaining traction. Vendor analysis reveals that renewable energy sources are replacing fossil fuels in hydrogen production. Renewable hydrogen is set to replace hydrodesulphurization, hydroCracking, reforming, and petroleum in refineries. The shift to netzero emissions is driving the adoption of hydrogen in refineries, oil refining, and fuel cell applications. Pilot projects like SoHyCal in Fresno, California, and Hygenco Green hydrogen stations are paving the way for a hydrogen-powered future. Accurate market research, including qualitative and quantitative, is essential for businesses to stay informed about this dynamic market. The market's future depends on continued technological advancements, renewable sources, and government policies. The cost reduction in fuel cell technology, primarily due to decreased platinum loading on anodes, larger bipolar plate formation and welding costs, and modified gas diffusion layers, as reported by Original Equipment Manufacturers (OEMs), has led to a decline in the production costs of fuel cell systems. This cost decrease is anticipated to boost the adoption of fuel cells in various sectors, increasing the demand for hydrogen gas and consequently driving the growth of the global hydrogen generation market. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges * The Hydrogen Generation Market is experiencing significant growth due to increasing demand for clean energy and decarbonization efforts. However, challenges persist, such as high GHG emissions from traditional production methods using fossil fuels like coal gasification and petroleum refining. Infrared radiation and greenhouse gas emissions contribute to air pollution, making renewable sources like electrolysis a more attractive option. Heavy industry and long-distance transport sectors are major consumers, driving demand for hydrogen in power generation and heat production. Prominent companies like Air Liquide are leading the way with green hydrogen production through electrolysis using renewable energy. Electricity production from biorefineries and hydrogen energy storage are technological advancements reducing reliance on fossil fuels. However, inflation and energy consumption concerns may impact market growth. Vendor analysis, contracts, and acquisitions are crucial for accurate market research. Renewable hydrogen production from sources like wind and solar power is becoming more common, reducing the carbon footprint and moving towards net-zero emissions. Pilot projects, such as SoHyCal in Fresno, California, and Hygenco Green's hydrogen stations, showcase the potential of hydrogenpowered vehicles and fuel cells. The industrial sector, including refineries, is adopting hydrogen for processes like hydrodesulphurization, hydroCracking, reforming, and ammonia and methanol production. Despite challenges, the market remains qualitative and quantitative, with renewable energy as a key driver. * The hydrogen and fuel cell industry is currently in a development stage, with no industry-specific regulations in place for hydrogen infrastructure products and fuel cell systems in Canada, the EU, the US, and other jurisdictions, except for electricity production. New technologies are emerging for hydrogen's use in storing renewable electricity. As of now, there are no regulations for fuel cell vehicles. However, with anticipated market growth, the hydrogen generation market may face government regulations in its operating markets. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This hydrogen generation market report extensively covers market segmentation by Delivery Mode1.1 Merchant1.2 CaptiveApplication 2.1 Chemical industry2.2 Refinery industry2.3 Metal processing industry2.4 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America 1.1 Merchant- The merchant delivery mode in the hydrogen generation market involves supplying hydrogen from production facilities to customer sites through tankers or storage containers. Contract agreements for this service last between three to seven years, making it suitable for customers with fluctuating demand or insufficient volume for captive production. Hydrogen can be transported over long distances at a lower cost due to the merchant delivery mode. The hydrogen is transferred from holding tanks into double-skinned tankers with capacities ranging from 10-20 metric tons. The operating pressure of these insulated tankers varies depending on the type of gas being transported. The growing demand for small quantities of hydrogen and the cost-effective nature of merchant delivery are expected to fuel the market's growth in the forecast period. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Hydrogen Generation Market is witnessing significant growth due to the increasing focus on reducing Greenhouse Gas (GHG) emissions, particularly Carbon Dioxide (CO2), in various sectors. Hydrogen produced from renewable sources, such as wind and solar, is gaining popularity as it emits only water vapor during combustion. The market is driven by the need for cleaner electricity production, heavy industry, long-distance transport, and the shift towards net-zero emissions. Technological advancements in hydrogen production through electrolysis, biorefinery, coal gasification, and petroleum refining processes like hydrodesulphurization, hydroCracking, reforming, and petroleum refining are key factors driving market growth. However, inflation and energy consumption are challenges that need to be addressed. The industrial sector, particularly oil refining, is a prominent consumer of hydrogen, but the market is also expanding to other sectors due to government policies promoting Green Hydrogen. Air pollution from fossil fuels and crude oil quality concerns are also driving demand for hydrogen as a cleaner alternative. Market Research Overview The Hydrogen Generation Market is experiencing significant growth due to the increasing demand for clean energy and the need to reduce Greenhouse Gas (GHG) emissions, particularly in sectors such as heavy industry, long-distance transport, and power generation. Hydrogen can be produced through various methods, including electrolysis using renewable energy sources and coal gasification with Carbon Capture, Utilization, and Storage (CCUS) technology. Infrared radiation is used in some hydrogen production processes to improve efficiency. Electricity production from fossil fuels contributes to GHG emissions, making hydrogen an attractive alternative. Biorefineries are also exploring hydrogen production as a byproduct of their processes. The market is influenced by inflation, energy consumption trends, and government policies promoting Green Hydrogen. Technological advancements in hydrogen production through electrolysis, hydro desulphurization, hydroCracking, reforming, and petroleum refining are driving market growth. Renowned publishers provide qualitative and quantitative research on this market, including vendor analysis, contracts, acquisitions, and hydrogen energy storage. Renewable hydrogen is gaining popularity due to its net-zero emissions, and pilot projects like the SoHyCal facility in Fresno, California, and Hygenco Green's hydrogen stations are leading the way. The industrial sector, including ammonia and methanol production, is also adopting hydrogen to reduce its carbon footprint. Despite these advancements, challenges such as crude oil quality and refinery projects' carbon footprint remain. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Delivery ModeMerchantCaptiveApplicationChemical IndustryRefinery IndustryMetal Processing IndustryOthersGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/hydrogen-generation-market-to-grow-by-usd-49-7-billion-from-2024-2028--driven-by-fertilizer-demand-and-ai-driven-market-transformation---technavio-302322467.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs