IT Services Market

Hybrid Power Solutions Market Size, Share, Trend & Growth Forecast to 2024

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The Hybrid Power Solutions market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report.

Hybrid Power Solutions Market share is predicted to surpass USD 60 billion by 2024. Growing focus toward grid integration for renewable sources will stimulate the hybrid power solutions market. Increasing penetration of renewable technologies along with ongoing adoption of sustainable solutions will foster the business landscape. In 2017, Vestas, Tesla and Windlab has initiated the backup support to Clean Energy Finance Corporation for the construction of Kennedy Energy Park which will be capable to generate 60 MW of electricity from hybrid solar wind technology.

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Paradigm shift towards decentralized power generation coupled with rising demand for environment friendly technology will complement the hybrid power solutions market share. Introduction of favorable regulatory norms including subsidies, leverage schemes and FIT?s will positively influence the product demand. In 2010, the government of India has initiated the promotion of hybrid power generation by facilitating a subsidy of USD 1,450 per kW to the community users.

 

U.S. hybrid power solutions market is projected to surpass the cumulative capacity of 900 MW by 2024. Increasing awareness toward standalone power generation units primarily for the consumption across residential establishments will foster the industry growth. Advancement in technology coupled with the growing need for uninterrupted power supply will complement the product penetration.

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Rising demand for clean fuel off grid electricity along with favorable regulatory measures to supply electricity to remote areas will foster the hybrid solar-wind power solutions market. Developers are significantly focusing toward the improvisation of capacity utilization factor along with shifting focus toward raising the dependency on effective and sustainable power generation.

China hybrid power solutions market  will grow over 3% by 2024. Introduction of targets to overcome the growing electricity demand along with government measures toward installation of renewable energy systems will positively impact the industry growth. Economies of scale and technology advancement resulting in significant decline in component cost for renewable power generation stations will further stimulate the industry outlook.

Eminent players serving the hybrid power solutions market includes Tesla Windlab, General Electric, Blue Pacific Solar, Gamesa Wartsila, Unitron Energy, Polar Power, Zenith Power Systems, Star Sight, VONK, Vestas, Grupo Dragon, Danvest, Alpha Windmills, BWSC, A123 systems, FlexGen, and Sterling & Wilson.

Table of Contents

Chapter 2   Executive Summary

2.1    Hybrid power solutions 360 degree synopsis, 2013 – 2024

2.1.1    Business trends

2.1.2    Technology trends

2.1.3    Product trends

2.1.4    End use trends

2.1.5    Regional trends

Chapter 3   Hybrid Power Solutions Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2013 – 2024

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Innovation & sustainability

3.5    Regulatory landscape

3.5.1    U.S.

3.5.2    India

3.5.3    Europe

3.5.3.1   Germany

3.5.3.2   UK

3.5.4    Australia

3.5.5    China

3.5.6    South Africa

3.5.7    Chile

3.5.8    International hybrid grid standards

3.6    Industry impact forces

3.6.1    Growth drivers

3.6.1.1   Enhanced power quality and security of supply

3.6.1.2   Favourable government initiatives

3.6.1.3   Growing electricity demand

3.6.1.4   Positive outlook towards renewable energy

3.6.1.5   Increasing off-grid electricity demand

3.6.2    Industry pitfalls and challenges

3.6.2.1   High initial investment

3.7    Price trend analysis

3.7.1    Price trend analysis, by region

3.7.2    Price trend analysis, by technology

3.8    Growth potential analysis

3.9    Key customer requirements

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Testing, Inspection, and Certification Services Market Trend to 2024 Profiling SGS SA, Intertek, Bureau Veritas, Eurofins, DNV GL, Corelab, Kiwa Group, RINA, Apave, TUV Nord

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MarketStudyReport.com offers 2018 report on global Testing, Inspection, and Certification Services market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.

Testing, Inspection, and Certification (TIC) Services Market is anticipated to be cross USD 240 billion mark by 2024. The market is propelled by the increasing trend of outsourcing services. The companies are leveraging on the third-party companies to minimize their operation cost and focus on their core business competencies. The stringent government regulations pertaining to the product safety and health also drive the demand for TIC services market.

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Globalization has further foster the demand for the TIC services. The new trade partnerships between the nations are encouraging companies to outsource their business operations to offshore countries. This is augmenting the demand for the third-party service providers to inspect the supply chain, raw material, and quality control procedure to ensure the safety and quality of the product. Furthermore, the rise in the conscious consumerism along with the development of the brand protection policies across the globe also supports the market growth. However, the protectionist policies and trade barriers act as major constraints. Moreover, the uncertain regulatory environment and complex nature of the global supply chain are also hindering the growth.

The testing services accounted for over 65% stake in the TIC services market. The growth is credited to the increasing concerns among consumers for improved quality of products & services. Furthermore, the rising focus of the government on the product quality and health is also augments the demand for the testing services. On the other hand, the certification services are anticipated to grow at a CAGR of more than 9% during the forecast period. The continuous efforts by the government to reduce the carbon dioxide emissions and energy consumption will drive the demand for the certification services.

The transportation sector holds more than 25% of the share in the TIC services market. The growth is attributed to the technological advancements in the automobile component. Moreover, the requirement to comply with the international standards and guidelines will also foster the growth. The agriculture & food sector is anticipated to attain the growth rate of over 10% during the forecast timeline. The growing prevalence of the food contamination diseases and food-borne illnesses is the major force driving the demand for the TIC services in the agriculture & food sector.

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Europe is leading the TIC services market with more than 40% share in the revenue in 2017. The growth is credited to the stringent government standards to promote consumer safety and improve the product quality. Moreover, the presence of commonly-accepted standards across the European Union member countries has further nurtured the growth. On the other hand, Asia Pacific is anticipated to grow substantially at a CAGR of over 9% during the forecast period. The demand is driven by the rapid urbanization and industrialization in the emerging economies including India and China.

The major players in the TIC services market are SGS SA, Intertek, Bureau Veritas, Eurofins, DNV GL, Applus+, Corelab, Kiwa Group, RINA, Apave, TUV Nord, ALS, SOCOTEC LR SYNLAB, TUV Rheinland TUV SUD, and DEKRA. These players are adopting merger and acquisition activities to gain the share and increase the global footprint. For instance, in 2018, SGS acquired SIT Skin Investigation and Technology to expand the company?s presence in the retail portfolio in testing services for cosmetics and skin care.

Table of Contents

Chapter 2.  Executive Summary

2.1. TIC services industry 360º synopsis, 2013 – 2024

2.1.1.  Business trends

2.1.2.  Regional trends

2.1.3.  Service trends

2.1.4.  Type trends

2.1.5.  Application trends

 Chapter 3. Global TIC Services Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2013 – 2024

3.4. Industry ecosystem analysis

3.5. TIC services market evolution

3.6. Market news

3.7. Technology and innovation landscape

3.8. Industry impact forces

3.8.1.  Growth drivers

3.8.1.1.  Growing demand for third part services

3.8.1.2.  Rise in globalization

3.8.1.3.  Stringent government regulation

3.8.1.4.  Empowered consumers

3.8.1.5.  The rise of brand protection policies

3.8.2.  Industry pitfalls & challenges

3.8.2.1.  Uncertain regulatory environment

3.8.2.2.  Complex nature of global supply chain

3.8.2.3.  Replacement of KYTO protocol

3.9. Growth potential analysis

3.10.  Porter’s analysis

3.11.  PESTEL analysis

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Network Function Virtualization Market Growth and key Industry Players 2018 Analysis and Forecasts to 2024

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This global Network Function Virtualization market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Network Function Virtualization (NFV) market is projected to surpass USD 70 billion by 2024. NFV is the abstraction of network functions that allow them to be installed, controlled, and manipulated through the software running on standardized hardware nodes. It incorporates virtualization and cloud technologies to enable rapid development and deployment of new network services with elastic scale and automation. The technology brings increased agility in delivering network services through enhanced capital efficiency by enabling on-demand deployment of new services and removing bottlenecks introduced by manual processes. The increasing demand for automating the orchestration and management of computing resources, network, and storage devices are the key driving factors for the development of Software Defined Networking (SDN) and NFV technologies.

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NFV uses traditional IT virtualization techniques on commodity hardware such as storage, computing, and networking. Thus, by consolidating network functions into industry high-volume servers and storage, enterprises can benefit from the cost as well as innovation dynamics of the traditional IT. Complex networking tasks that traditionally required custom hardware builds on specialized devices can be performed by using commercial off-the-shelf (COTS) IT infrastructure using virtualization technologies such as NFV and SDN. In enterprise IT environment, the server, storage infrastructure, and associated complexity issues cause most of the enterprises to spend over 70% of their resources and budget on maintenance & operations while leaving less than 30% resources for innovation.

 

The NFV market is projected to register a CAGR of over 42% between 2018 and 2024. This robust growth can be attributed to the growing demand for server virtualization and data center consolidation. Data center consolidation involves reforming old data center facilities, architecture, network transformation, optimization, resource integration, and system migration to make them more energy-efficient, agile, reliable, and economical to offer sustainable development. As networks become more programmable, data center operations can be conducted in a more agile manner. As SDN and NFV are driving the convergence of data center and IT & telecommunications, they offer data center managers an improved scalability and flexibility to accommodate changing market demands.

 

Another important factor expected to drive the adoption of NFV solutions is the massive investment by telecom service providers for the commercialization of 5G. Some of the typical issues in complex carrier networks are a huge diversity in proprietary nodes & hardware appliances and the requirement of additional proprietary hardware for launching new services. NFV allows telecom carriers to use network resources without worrying about their physical location.

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North America is expected to hold a majority share of the NFV market in 2017 due to the availability of an extensive data center ecosystem in the region, widespread adoption of industrial IoT (IIoT) in different industry verticals, and a major presence of leading global cloud service providers in the U.S. The U.S. government is moving swiftly to lead the world in 5G, the next generation of wireless connectivity. The Federal Communications Commission (FCC) is emphasizing on making additional low, medium, and high-band spectrum available for 5G services. It also focuses on reducing regulatory barriers to encourage investments in 5G networks.

Asia Pacific NFV market is expected to register the fastest growth between 2018 and 2024 due to the increasing demand for cloud-based computing, storage, and networking solutions from the rapidly emerging technology companies in the region. With major investments in the NFV technology from telecom companies, such as ZTE and Huawei, in China, the innovation in NFV solutions and services is expected to accelerate rapidly over the forecast timeline. Under China?s Internet Plus initiative to modernize and transform traditional industries to join the modern economy, the telecom service providers in the country are rapidly embracing NFV technology to benefit from its flexibility, speed, and cost-effectiveness.

Table of Contents

Chapter 3.   NFV Industry Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  NFV industry landscape

3.4.  Industry ecosystem analysis

3.5.  Features/benefits of NFV solutions

3.6.  Technical network challenges for NFV

3.7.  NFV architectural framework

3.8.  SDN and NFV

3.9.  Technology & innovation landscape

3.9.1. Network as a service

3.9.2. Software-defined Wide Area Networking (SD-WAN)

3.9.3. Virtual Customer Premise Equipment (vCPE)

3.10.   Regulatory landscape

3.10.1.1.   ISO/IEC 270001

3.10.1.2.   Personally Identifiable Information (PII) Protection Controls of ISO/IEC 27018

3.10.1.3.   European Telecommunications Standards Institute (ETSI) GS NFV -IFA 008

3.10.1.4.   IEEE SDN/NFV Standardization

3.10.1.5.   The National Institute of Standards and Technology (NIST) guidelines

3.10.1.6.   The Open Compute Project and OPNFV

3.10.1.7.   Gramm-Leach-Bliley Act of 1999

3.10.1.8.   The Network and Information Security (NIS) Directive

3.11.   Industry impact forces

3.11.1.  Growth drivers

3.11.1.1.   Significant CAPEX and OPEX savings for enterprises

3.11.1.2.   Optimized network scalability and agility offered by NFV

3.11.1.3.   Lower telecom carrier costs

3.11.1.4.   Increasing demand for mobility

3.11.1.5.   Increasing demand for data center consolidation and server virtualization

3.11.1.6.   Growing investment in 5G network technology

3.11.2.  Industry Pitfalls and Challenges

3.11.2.1.   Lack of in-house technical expertise

3.11.2.2.   Security concerns

3.11.2.3.   Integration and interoperability issues

3.12.   Porter’s Analysis

3.13.   PESTEL analysis

3.14.   Growth potential analysis

 Chapter 4.   Competitive Landscape, 2017

4.1.  Introduction

4.2.  Competitive analysis of key market players

4.2.1. Cisco

4.2.2. VMware

4.2.3. Huawei

4.2.4. Nokia

4.2.5. Ericsson

4.3.  Siemens Competitive analysis of other prominent players

4.3.1. Juniper

4.3.2. 6Wind

4.3.3. F5 Networks

4.3.4. Citrix

4.4.  Competitive landscape

Chapter 4. Network Function Virtualization Market, By Production Technique

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Smart Grid Market Set to Register 11% CAGR During 2018-2024

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MarketStudyReport.com offers 2018 report on global Smart Grid market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.

Smart grid Market is predicted to reach over USD 70 billion by 2024. Favorable government initiatives toward grid advancement will drive the industry growth. The regulatory authorities across the nations have imposed stringent regulations and mandates as part of their initiatives to combine the grid installation and research & development activities. The global funding for digital electricity infrastructure in 2016, was valued over to USD 45 billion to improve the reliability, security and resiliency of the grid. In addition, the growing government focus toward grid refurbishment to reduce overutilization, load mismatch and integration challenges will further augment the smart grid market.

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The U.S. smart grid market in 2017, was valued over USD 3 billion. Implementation of various grid automation plans to strengthen the distributed intelligence and communication flexibility of national electrical infrastructure will positively impact the industry growth. Growing demand for energy conservation on account of recurring blackouts will stimulate the business outlook. In 2017, The Public Service Electric & Gas Company invested an amount of USD 69 million to enhance the consumer energy efficiency by data analytics and smart thermostat programs.

UK smart grid market is set to witness strong growth owing to favorable regulatory norms toward environmental sustainability and energy conservation. The legislative directive and mandate rollout across the nation toward smart meters will augment the business landscape. As part of the smart grid plan, the Energy Networks Association has aimed to execute a local energy market, enabling the households and businesses to trade power thereby contributing to conservation of energy.

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China smart grid market is anticipated to grow over 11% by 2024. Regulatory measures toward increasing sustainable energy mix along with the development of green infrastructure will foster the industry growth. For instance, the government of China has planned to increase the share of renewable energy over 20% by 2030 in the existing generation mix.

Ongoing investments toward digitalization of grid by implementing advanced communication technology will stimulate the smart grid market. Increasing focus toward the integration of renewable grid along with the necessity for upgrading ageing electrical infrastructure will facilitate the installation of smart grids.

Eminent players in smart grid market include ABB, Hubbell, Schneider Electric, Fujitsu General, Belden, General Electric, Honeywell Elster, Landis+Gyr, Oracle Itron, Siemens, Cisco, Wipro and IBM.

Table of Contents

Chapter 3.    Smart Grid Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024 (USD Million)

3.3. Industry ecosystem analysis

3.3.1.   Vendor matrix

3.4. Regulatory landscape

3.4.1.   U.S.

3.4.2.   Europe

3.4.3.   China

3.4.4.   India

3.4.5.   Australia

3.4.6.   Brazil

3.5. Innovation and sustainability

3.5.1.   ABB

3.5.2.   Schneider Electric SE

3.5.3.   Fujitsu General

3.6. Global investment trend analysis

3.7. Key existing and upcoming projects

3.8. Smart Grid Developed Vs Upcoming Markets

3.9.     Transmission and distribution loss trends

3.10.    Customer requirements

3.11.    Customer group requirements

3.11.1. Utility

3.11.2. Government institutions

3.11.3. Industrial

3.12.    Entry barrier

3.13.    Industry impact forces

3.13.1. Growth drivers

3.13.1.1. .Increasing need to digitalize the power sector

3.13.1.2. Favorable government regulations and mandates

3.13.1.3. Growing share of renewable energy in the energy mix

3.13.1.4. Reliable and efficient energy consumption

3.13.2. Industry pitfalls & challenges

3.13.2.1. Rising cyber attacks

3.14.    Growth potential analysis

3.15.    Porter’s analysis

3.16.    Competitive landscape, 2017

3.16.1. Strategy dashboard

3.16.1.1. Itron

3.16.1.1.1.   Product Development

3.16.1.1.2.   Acquisitions

3.16.1.1.3.   Long Term Contract

3.16.1.1.4.   Restructuring

3.16.1.2. Honeywell

3.16.1.2.1.   Acquisition

3.16.1.2.2.   Long-term contracts

3.16.1.2.3.   New Product Launch

3.16.1.3. ABB

3.16.1.3.1.   Acquisition

3.16.1.3.2.   New Product Launch

3.16.1.4. Siemens AG

3.16.1.4.1.   Acquisition

3.16.1.4.2.   Long-term contracts

3.17.    Company market share,2017

3.18.    PESTEL analysis

 Chapter 4.   Smart Grid Market, By Technology

4.1. Smart grid market share by technology, 2017 & 2024

4.2. Smart T&D equipment

4.2.1.   Global market from technology, 2013 – 2024

4.2.2.   Global market from technology, by region, 2013 – 2024

4.3. Distribution & network automation

4.3.1.   Global market from distribution & network automation, 2013 – 2024

4.3.2.   Global market from distribution & network automation, by region,2013 – 2024

4.4. Advanced Metering Infrastructure

4.4.1.   Global market from advanced metering infrastructure, 2013 – 2024

4.4.2.   Global market from advanced metering infrastructure, by region,2013 – 2024

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Chatbot Market Trends Global Industry Analysis, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2024

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Market Study Report adds global Chatbot market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.

Chatbot Market is projected to surpass USD 1.34 billion by 2024. The introduction of chatbot has opened new boundaries into the business world in terms of customer engagement and ease of interaction enabling the countries to connect with their customers globally. Chatbots also allow businesses to interact with their customers in two-way communication. It permits them to examine and measure interactions with consumers, taking their requirements into consideration, and optimizing customer experiences. Chatbots also aid in increasing customer retention rate by sending personalized messages and offering 24/7 availability, accelerating the market demand.

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The technological advancements in the field of AI had benefitted the chatbot industry as they have brought about a change from just being simple software with scripted answers to present day intelligent chatbots that are able to engage potential consumers. These chatbots have brought about various positive social impacts such as enhanced customer interaction with businesses, quick access to public data, and online payment of tax and bills. Moreover, the governmental agencies are also relying on chatbots to enhance customer experience. For instance, the Mississippi Department of Information Technology has been using a chatbot named Missi to resolve inquiries of 100 citizens daily relating to taxes and hunting licenses.

The rule-based segment dominates the chatbot market with a revenue of USD 218 million in 2017 anticipated to reach USD 869 million by 2024. However, the development of these chatbots is done following a rule-based approach and hence are unable to answer questions whose patter mismatches with the rules on which the bot is trained. The AI-based chatbots are projected to grow at the fastest rate of CAGR 52.8% over the forecast timeline. The rapid progresses in the field of NLP and machine-learning have also led to the development of AI-based chatbots which can offer personalized responses. For instance, in 2018, the Indian railways decided to use AI-based chatbots for handling passenger queries. These chatbots assist in improving traveler experience in an efficient manner by providing enhanced passenger safety, amenities, and better service delivery.

The standalone segment held approximately 50% shares in the market in 2017 and is anticipated to dominate the market. They operate on a single computer integrated with the system interface and can control certain functions of the computer such as retrieving documents or playing media. These chatbots offer benefits such as ease of installation and reduced installation prices.

The customer service applications show strong interests in chatbots as these intelligent digital assistants are always accessible to solve customer queries in a cheap and efficient manner. They support businesses to save customer service expenses of over 30% by moving up response times and freeing up employees for more challenging work. Furthermore, around 56% of the companies operating in the technology and multimedia sectors are planning to invest in chatbots in the coming three to five years, saving approximately USD 8 billion yearly in customer supporting costs.

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The e-commerce segment held about 35% of the market in 2017 because they assist in completing buyer?s purchases, offer product recommendations, and provide customer support in enhancing their market growth. They aid in improving shopping experience by reducing waiting time, provide 24/7 support, and retain customers by sending messages. For instance, Starbucks chatbot available on the Starbucks application allows customers to easily place an order by text messaging or voice commands through chatbots, increasing customer buying experience and saving purchase time.

North America is projected to dominate the chatbot market by 2024 as chatbot solutions have gained prominence in different sectors such as BFSI e-commerce, gaming, and healthcare. Furthermore, the technological advancements in the AI and NLP technologies followed by the increased usage of computers, tablets, laptops, and mobiles are also driving the market growth. Asia Pacific is growing the fastest in the market during the forecast timeline, generating revenues of approximately USD 350 million by 2024 due to the rising advent of messaging applications such as WeChat in China. Furthermore, the rapid investments by tech giants have also boosted the chatbot growth. For instance, in April 2018, Alibaba invested USD 600 million in SenseTime, China?s leading AI company. This funding will assist the company in increasing their technological innovation rate and expanding their new business opportunities.

The companies in the chatbot market are spending in the research and development, aimed at developing new and customized chatbots. The vendors in the market are Astute Solutions, Baidu, Botsify, Bold360, Chatfuel, ChatterOn, ChattyPeople, Facebook, Google Inc., Haptik Inc., Helpshift, IBM Watson, Imperson Ltd., Kiwi Inc., ManyChat, Microsoft Corporation, Nuance Communication Inc., LivePerson, Poncho, ReplyYes, Slack Technologies Inc., and SRI International.

Table of Contents

Chapter 1.   Methodology & Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definition

1.1.6. Methodology and research parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

 Chapter 2.   Executive Summary

2.1.  Chatbot industry 360º synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Application trends

2.1.4. Interface trends

2.1.5. End-use trends

2.1.6. Type trends

2.1.7. Deployment model trends

 Chapter 3.   Chatbot Market Industry Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Industry landscape, 2013 – 2024

3.4.  Industry ecosystem analysis

3.5.  Industry evolution

3.6.  Industry architecture

3.7.  Chatbot Vs virtual assistant

3.8.  Market news

3.9.  Regulatory landscape

3.9.1. General Data Protection Regulation (GDPR)

3.9.2. China Data Privacy Standard

3.9.3. California Online Privacy Protection Act (CalOPPA)

3.9.4. Personal Data Protection Act 2012

3.9.5. German Bundesdatenschutzgesetz (BDSG)

3.9.6. Federal Information Security Management Act (FISMA)

3.10.    Technology & innovation landscape

3.10.1.  Technological advancements in AI

3.10.2.  Advancement and innovation in NLP

3.10.3.  Pattern recognition and image detection

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Global Data Center Rack & Enclosure Market is anticipated to grow at a CAGR of 10% by 2024

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MarketStudyReport.com Adds New Data Center Rack & Enclosure Market 2018 – 2024 research report providing information and data By Component, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 320 Pages with table and figures in it.

Data Center Rack & Enclosure Market Research Report for the period of 2018-2024 that shows the growth of the market is rising at a 10% CAGR to 2024.

Growing deployment of the infrastructure across the several regions is driving the demand for the data center rack & enclosure market. The industry is witnessing a growing requirement for cabinets that can hold the electrical equipment and the connecting devices. These facilities are expanding with the growing amount of data generation and storage requirements. To combat this demand, companies operating in the data center rack & enclosure market are developing racks with the maximum height, width, and depth. For instance, Microsoft Corporation developed a custom rack design that consists of 57 rack units and is utilized in housing or holding several components of mega or hyperscale facilities. In addition, in November 2017, Schneider Electric SA announced the launch of HyperPod, a cabinet that has been designed to implement IT infrastructure in increments of eight to 12 racks. Such initiatives from several companies are providing an impetus to the data center rack & enclosure market growth.

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Data Center Rack & Enclosure Market is anticipated to surpass USD 5 billion by 2024. This growth can be credited to the rise in the adoption of cloud computing and IoT technology. The growing need and requirement for IoT technology in networking and connectivity include big data generation, transmission, and storage, which require mega or hyperscale data centers. The networking components and solutions need to be placed and located in proper racks and should be safe and secured from external disturbances such as water sources and electrical effects. To secure the infrastructure from the external effects, they are protected by placing in the cabinets. These cabinets provide several advantages such as security, wiring, cable managing, and stability, thereby driving the demand for the data center rack & enclosure market.

In the data center rack & enclosure market, hardware solutions accounted for the majority of the industry share. The need for heat and cable management in mega or hyperscale facilities is increasing the demand for effective and efficient cooling systems that require innovative solutions, which will account for the proper airflow management. Corridors in these racks provide a mix of hot and cold air, which secure it from short circuits. The solution to this problem is providing doors, blank panels, thermal seals, and plinth that allow the proper flow of cold air in the systems and equipment.

Growing demand for the infrastructure in the IT & telecom sector is driving the data center rack & enclosure market. The need to store a large amount of data generated and transmitted is creating a high demand and requirement for the storage centers. The storage systems vary in size depending on the workflow and data storage in the industry. With increasing adoption of IoT for various processes in the IT & telecom sector, the data center rack & enclosure market is anticipated to witness a high growth. IoT deployments will generate large amounts of data that need to be processed and analyzed in real time. As network connections are spread out across a large geographical and virtual space, the demand for cabinets will witness an exponential rise, driving the data center rack & enclosure market growth.

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In 2017, Europe accounted for over 28% of the data center rack & enclosure market. Growing demand and importance of the infrastructure for networking and data storage in this region has forced the companies to develop several innovative facilities that will benefit the rack providers by generating high availability and providing technological advancements in their offerings, which will best suit the demand of the consumers. Several technological advancements by the manufacturers, such as enhanced cooling system, airflow management, sophisticated connectivity, and high security in data center rack & enclosure market, have revolutionized the industry and requirements of customers.

Key players operating in data center rack & enclosure market include Fujitsu Ltd., Vertiv Co., Schneider Electric SE, Oracle Corporation, Legrand, IBM Corporation, Hewlett-Packard Company, Eaton Corporation, Dell, Inc., Delta Power Solutions, Dataracks, Conteg, AFCO Systems, Rittal Corp., Tripp Lite, and Pentair, Inc., among others. These players are competing based on the requirements of the consumers for data transmission and storage capacity. They are developing new cabinets, which can hold several networking equipment by increasing the rack unit size. Airflow management and Computational Fluid Dynamics (CFD) are the techniques, which are monitored by these manufacturers for improving the cooling features of the enclosures. The several strategies adopted in the data center rack & enclosure market include new product development and product differentiation to differentiate their offerings from customers.

Table of Content:

Chapter 1    Methodology & Scope

Chapter 2    Executive Summary

Chapter 3    Data Center Rack & Enclosure Industry Insights

Chapter 4    Data Center Rack & Enclosure Market, By Component

Chapter 5    Data Center Rack & Enclosure Market, By Application

Chapter 6    Data Center Rack & Enclosure Market, By Region

Chapter 7    Company Profiles

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Data Center Infrastructure Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2024

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MarketStudyReport.com Adds New Data Center Infrastructure Market 2018- 2024 research report providing information and By Product, By Component, By Application, By End-Use, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 340 Pages with table and figures in it.

Data Center Infrastructure Market Research Report for the period of 2018-2024 that shows the growth of the market is rising at a 10% CAGR to 2024.

Increasing use of the facilities across several industrial sectors, such as healthcare, manufacturing, IT & telecom, and BFSI, to store the growing amount of data generated will drive the data center infrastructure market growth. The rise in the demand for the storage of a high volume of data coupled with improving efficiency across the business operations is providing several growth opportunities to the industry. The BFSI sector is making huge investments in the deployment and installation of the facilities, to keep pace with the competitors owing to the agility and cost-effectiveness offered by these facilities. Growing need for data processing and information security across several sectors will fuel the data center infrastructure market growth. Moreover, to streamline operations, reduce costs, and enhance business performance, several industries are focusing on the deployment of these facilities.

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Data Center Infrastructure market is expected to exceed USD 90 billion by 2024. The growth can be attributed to the rising trend of cloud computing and virtualization. The rise in the demand for cloud storage has resulted in a global increase in the number of data centers. The growing reliance of end users on online transactions has led to a fast rise in the amount of data generated, driving the data center infrastructure market. Small and medium enterprises are often tending to adopt online channels to stay connected with their customers. Several businesses are adapting to the changes in their value chain by implementing digital technologies to create customer-centric and digitally-enhanced business models.

Colocation providers operating in the data center infrastructure market are offering enhanced maintenance and services to businesses to maximize their productivity, which enables enterprises to focus on their core business with efficient data management. The requirement for exclusively-owned infrastructure has reduced owing to the growing trend of cloud adoption. Moreover, with the increasing amount of data, the expansion of existing facilities takes up plenty of space on the premises. Several companies are focusing on reducing the capital and operational expenditure by outsourcing their data storage needs to colocation providers, thereby driving the colocation data center infrastructure market growth.

The increasing adoption of IoT, cloud, and big data analytics along with the increasing consumption of online audio and video content is driving the data center infrastructure market growth in North America. There is a rise in the number of users switching to streaming video OTT, leading to a rise in the movement toward video-on-demand solutions and services. Netflix is dominating the streaming services in the U.S. The U.S. is witnessing a fast growth in the number of Youtube, Hulu, Netflix, and Amazon users. With the increase in cloud and online activity, OTT providers are utilizing these facilities for the delivery, storage, encoding, and decoding of video content through broadcast, cable or telecom networks, thereby providing an impetus to the data center infrastructure market growth.

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Major players operating in the data center infrastructure market include Vertiv Group Corporation, Schneider Electric S.E., Eaton Corporation PLC, Rittal GmbH & Co., KG, Panduit Corporation, Degree Controls, Inc., ClimateWorx International, Black Box Corporation, Asetek, and Airedale International Air Conditioning Ltd., among others. Manufacturers operating in the data center infrastructure market are focusing on launching new solutions and expanding their distributor network across the globe. They are signing product development contracts for launching new products. Companies, such as Rittal and Schneider Electric, are stressing on the manufacturing of innovative solutions, to serve a wider area.

Table of Content:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Data Center Infrastructure Industry Insights

Chapter 4. Data Center Infrastructure Market, By Product

Chapter 5. Data Center Infrastructure Market, By Component

Chapter 6. Data Center Infrastructure Market, By Application

Chapter 7 Data Center Infrastructure Market, By Region

Chapter 8. Company Profiles

 

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