Smart Utilities Management Market Growth Analysis and Challenges

The development in the customer model occurring through the ascent in decentralized power age frameworks, for example, Waste-to-Power, increases the developing significance of smartening a nation’s capacity network framework and Rooftop Solar PV advances. 

The coming of smart urban communities and smart frameworks is likewise demonstrating as a noteworthy driver for smart utility management reception. Moreover, advancement in battery innovation is permitting littler gadgets with longer working occasions. Reconciliation of cloud advancements is likewise expected to give chances to develop here. 

This report on driving smart utilities management market commences with a detailed executive summary followed by a market overview section. This section lends crucial understanding on diverse macro and microeconomic factors that steer growth in driving smart utilities management market. The report also sheds light on various market drivers, restraints, threats, and challenges that impact growth in driving space on the smart utilities management market. Additionally, the report shades insights over some major companies through their financial data, company overview, products and services, key developments market competition, strategy analysis, SWOT Analysis, industry competition structure analysis, and others. 

Global Smart Utilities Management Market: Companies Mentioned 

Some of the players operating in the global smart utilities management market are Atos SE, IBM Corporation, Honeywell International Inc., Cisco Systems Inc., ABB Ltd, and Siemens AG.  These players are continuously innovating and expending on upgrading their product in order to offer the increasing demand for the products. 

• In 2019, Trimble (TRMB) one of the leading company announced that new insertion flowmeter, which is a comprehensive digital water management solution that monitors flow and pressure to reduce non-revenue water (NRW) and implicated in the drinking water systems. Both the companies are launching together the Internet of Things (IoT)-based solution includes the new flowmeter and benefit of advanced monitoring software for water monitoring. 

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Global Smart Utilities Management Market: Drivers and Restraints 

A greater part of the utilities is presently focusing on setting up AMI foundation for gathering managerial necessities, green power activities, and extra business benefits. 

Enormous volumes of information are being gathered, with AMI meters being conveyed, yet utility suppliers have not begun understanding the advantages of got information and other AMI capacities to remotely perform exchanges, aside from simply tolerating the month to month charging read. 

Expanding interests in smart framework frameworks around the globe are one of the essential variables driving the development of these frameworks. Governments around the globe are pushing for the organization of AMI, so as to robotize the current activities and push mechanical development. With smart lattice frameworks offering high proficiency and aiding in cost sparing, the interest for the smart network is developing, subsequently directly affecting the development of smart meters. 

The Ministry of Power in India propelled the India Smart Grid Week (ISGW) since 2015 and it is considered as one of the main five universal occasions on smart lattices and smart urban communities. With the starting of 100 smart cities extends by the administration of India, water and city gas dispersion utilities will likewise need to outfit themselves with the most recent advancements for improved operational effectiveness and fruitful incorporation into the smart city frameworks. 

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Global Smart Utilities Management Market: Geographical Analysis 

Based on the region, the smart utilities management market is segmented in to five parts such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. 

In Asia-Pacific, in the recent past, countries, such as Australia, Japan, and South Korea have shown considerable strides in their efforts to smarten their utility network systems. 

Similarly, Victoria in Australia has been the first in the race toward a complete smart meter rollout, which was undertaken by SP AusNet and four other electricity distribution providers. Such advancements in the region have led to an increased dependence on smart utilities management software and services, due to the increased efficiency it allows major utility providers. 

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Dynamic Positioning Systems Market to Witness Explosive Rise by 2022

Dynamic positioning systems are computer driven system which automatically maintain a vessel’s heading and positionwith the help of its ownthrusters and propellers. It allows a vessel to automatically maintain its balance. Vessels installed with dynamic positioning systems have ability to operate with reliability, positioning accuracy, and safety. Due to which, such systems have been successfully accepted worldwide across various industries and the international maritime organizations such as General Electric Co. and Marine Technologies LLC.

However, the deployment of these systems might be restricted due to the previously installed subsea structures on the seabed. But, for certain deepwater production and exploration scenarios, dynamic positioning operated vessels might be the only viable solution due to the length and depth of mooring lines required.  Dynamic positioning system includes position reference sensors, combined with motion sensors, wind sensors, and gyrocompasses which provide information to the computer system about the position, magnitude and direction of environment forces in order to maintain vessels position and balance. The dynamic positioning system is also used in combination with mooring and anchoring to form position mooring systems for energy efficiency.

The dynamic positioning system market has been experiencing accelerated growth in recent years due to increase in number of dynamic position vessels like survey vessels, drilling ships, supply vessels, diving support vessels and many more. Moreover, technological improvement and usage of dynamic positioning vessels for offshore drilling by oil industries is also boosting the demand of dynamic positioning systems. But at the same time, lack of competent dynamic position operators and system complexity is restraining the market growth.

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In addition, installation and operation of a dynamic positioning system are major challenges restraining the DPS market growth.Application of dynamic positioning system in floating production storage and offloading vessel operations creates new opportunities to the dynamic positioning system manufacturer. It is also expected that advancements in the usage of condition-based monitoring systems as a part of vessel maintenance strategies would shape and influence the dynamic positioning system market.

The dynamic positioning systems market has been segmented by sub-system, by reference system, by equipment type, by application and by region. In terms of the equipment type, the dynamic positioning system market is segmented into equipment class 1, class 2 and class 3. The sub-system segmentation covers thruster systems, power systems, sensors and dynamic positioning control systems. On the basis of reference system, the market is segmented into Artemis, taut wire, differential global positioning systemhydro acoustic position reference, and laser based systems.

The market is also segmented on the basis of applications, such as merchant vessels, passenger ships, naval vessels, and offshore vessels. Based on the geographic regions, the dynamic positioning systems market is categorized into Latin America, Europe, Middle East and Africa, Asia-Pacific (APAC), and North America. The increasing deep-sea excavations and the rising maritime trade with the Asia-Pacific and Africa regions is boosting the market growth. Moreover, safety operations across deep ocean waters during offshore oil and gas operations is accelerating the demand for dynamic positioning systems in Asia-Pacific region.

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Some of the key players in dynamic positioning systems market are Rolls-Royce PLC, Marine Technologies LLC, Kongsberg Gruppen ASA, L-3 Communications corp., General Electric Co.,NORR Systems Pvt. Ltd., Navis Engineering Oy, AB Volvo Penta, and Praxis Automation and Technology B.V.

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Air Traffic Control Equipment Market Top Leading Players

The rising demand within the global air traffic control equipment market can be attributed to rising air traffic. The need for resilience and seamless control over air traffic control systems has played a vital role in market growth. Specifications and rules stipulated by regulatory bodies has brought air traffic control units under the spotlight of attention. Caution and precision are important watchwords for people working across air traffic control units. Furthermore, the need for continual improvements in air traffic management is also characteristic of these units. Owing to the factors mentioned above, the global air traffic control equipment market is slated to tread along a lucrative growth path in the forthcoming years.

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A review added by Transparency Market Research (TMR) on the global air traffic control equipment market uncovers several factors pertaining to market growth. The global air traffic control equipment market can be segmented on the basis of aircraft type and product. Use of air traffic control equipment for managing commercial aircrafts has increased by a dramatic chase. Presence of a large fleet of commercial aircrafts in multiple regions has aided market growth.

Global Air Traffic Control Equipment Market: Notable Developments

• The Federal Aviation Administration (FAA) has stipulated a set of new rules and laws for identification and tracking of drones within the US. The laws are intended towards balancing safety requirements with law-enforcement across the commercial aviation industry. The use of air traffic control equipment would play an integral role in meeting the ambitious plans of the FAA. 
• Canada has lately struck a deal with the US to continue operation of one of its challenger jets, despite unavailability of adequate technology to match new air traffic control equipment. The Royal Canadian Air Force Challenger shall continue to operate in US air space, and this is an important consideration for vendors in the global air traffic control equipment market. 

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Global Air Traffic Control Equipment Market: Growth Drivers

• Increasing Investments in Aviation 

  The global market has earned key revenues from growing investments in the aviation industry. Besides, advancements in data processing and communication technologies has garnered the attention of vendors in the global air traffic control equipment market. Need for safe landing and take-off has led decision-makers in the aviation industry to push ATC units towards continual advancements. Furthermore, presence of multiple aircrafts across aerial trajectory necessitates the use of cutting-edge equipment for air traffic control and management. In this scenario, it is safe to expect that the global air traffic control equipment market would expand by a dramatic chase in the years to follow. 

• Presence of Multiple Aircraft Fleets 

  A wide range of products correspond to air traffic control equipment, and this is an important consideration from the perspective of market growth. Several authorities have enunciated the use of broadcast equipment, law enforcement supplies, and airport surveillance systems in the aviation industry. Furthermore, proper training of workers is a vital feat for air traffic control authorities. Therefore, the total volume of revenues within the global air traffic control equipment market is set to rise by leaps and bounds. The collaboration of ground systems with air traffic control equipment plays an integral role in maintaining proper resilience of fleets. Military aircrafts are required to fly at altitudes different from commercial and private aircrafts. This factor, coupled with the need for managing times of aerial trajectories, has aided market growth.

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Contract Lifecycle Management Market Trends and Demand

The contract lifestyle management market is expected to witness robust growth in the near future. The rising demand for temporary workers amidst advancing nature of technology, and changing requirements of work as well as consumer demands. The contract lifestyle management market is expected to result in significant growth in the near future as MNCs continue to expand to new countries and automated technologies play a pivotal role in shaping the industry landscape.

These technologies have made headways in sectors like legal wherein, it never had a firm footing. However, key tasks are being automated as legal systems continue to witness high incidences of cases amidst shortage of skilled laborforce. The growing demand for automation in other areas driven by Artificial Intelligence, and considerable costs of hiring full-time employees rises. Additionally, automation also helps companies comply with legal requirements while limiting the scope of liabilities in various capacities. The growing costs of liabilities, and their unpredictable nature are expected to drive significant growth for the contract lifecycle management market in the near future.

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Contract Lifecycle Management Market: Notable Developments

ContractPodAi, a London-based AI-powered contract lifecycle management software has raised the largest funding of $55 million. The funding was led by Eagle Propriety investments and promises another major development in the market. The automation of contract lifecycle management is expected to be a major prospect of growth in the near future. Large tech companies like IBM are betting big on AI and have invested in this AI startup to take take the CLM industry to the next level. The growth of AI, rising demand for contract lifecycle management sofwares, and increased efficiency for end-players like the public sector are major promising development on the horizon in the industry.

Contract Lifecycle Management Market: Drivers and Restraints

The contract lifecycle management market is expected to serve many end-industries. Among these, the public sector is expected to remain the largest in the near future. Public sector provides ample opportunities for automation, consolidation of data for efficient use, and higher-savings for end-users. The public sector in Britain is estimated to lose millions of dollars each year due to lack of automation in contract management. Many industries like the United States and Europe are in similar fix wherein public sector lags behind the private sector in adoption of technology which continues to halt progress due to incumbent higher costs. Additionally, it also promotes lack of transparency which further leads to erroneous procedures and more paperwork causing delays. The public sector is expected to remain the largest potential opportunity as it continues to demand CLM solutions increasingly.

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Contract Lifecycle Management Market: Geographical Analysis

The contract lifecycle management market is expected to witness robust growth in North America region. The early adoptive nature of the region to technological developments, the high demand for temporary workers, and increasing automation in the region are expected to remain major drivers of growth in the region. Recently, Amazon announced that it decided to automate various shelfing procedures in its warehouses with robots. This technology is expected to remain important even in retail as automation continues to replace human beings with more efficient mechanisms. The growth of automation, growing complexity in contracts, and rising liabilities are expected to drive growth of the contract lifecycle management market. The market is also expected to register strong growth in Asia Pacific, thanks to rising automation in countries like South Korea, China and Japan.

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Industrial Robot Market Future Growth Analysis and Challenges

Adoption of robots equipped with artificial intelligence in manufacturing industries is likely to accelerate the growth of global industrial robot market during the forecast timeframe.

In the last few decades, robots have revolutionized the industrial world. Industrial robots are now making their way into the larger business world. Robotic workers are now common sight in many sectors such as electronics manufacturing and automobile, now they are making foray into healthcare, food production, retail and other industries.

In an upcoming report, Transparency Market Research offers a 360-degree view of the global industrial robot market. The study attempts to elucidate all the vital strategies of growth and dynamics of the market. It also offers profiles of renowned companies that are operating in the global Industrial Robot market.

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Global Industrial Robot Market: Notable Developments

With regards to recent developments, the global industrial robot market manifest the following moves in the market

• In October 2018, DENSO, leading mobility supplier, acquired EASE Simulation Inc., a firm that specializes in the technology of automotive diagnostics. The full acquisition of EASE Simulation Inc., is expected to enable DENSO to improve the services that are offered within the scope of its non-automotive, Original Equipment Service, and aftermarket businesses

Denso Corporation, Daihen Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Universal Robotics are some of the names to reckon with in the global industrial robot market.

Global Industrial Robot Market: Key Trends

The following factors are expected to propel the growth of global industrial robot market:

Rapid Pace of Industrialization Necessitates Usage of Robots to Maximize Profit

The global industrial robot market is forecasted to be triggered by numerous factors such as high cost of labor, declining price of industrial robots, expanding electronics industry and so on.

Dearth of efficient workforce together with high cost of labor has resulted in the rising adoption of industrial robotics in many of the industrial sectors. Usage of robotics in any business enhances productivity and, hence, the profitability of the company also increases. Companies now treat robots as its helping hand.

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The demand for industrial robots is reaching the sky as industrialization is taking place at such a high pace. The extraordinary surge in the global demand for industrial robotics is, as such, quite understandable.

Many businesses are coming up with extremely promising products such as service robots, intelligent warehouses, and self-driving trucks across all parts of the logistics value chain, Industrial robots are also used for packaging and pick-and-place services, and this is further pushing for industrial automation.

Global Industrial Robot Market: Geographical Analysis

Driven by the U.S., North American industrial robot has been experiencing an accelerated growth in installation of robotics for almost a decade now. A record number of 33,192 installations took place in 2017. The U.S. ranks third in terms of robotic density with 189 robots per 10,000 employees.

Germany occupies the fifth position in the global industrial robots market and first in Europe. The country exported nearly 60% of its robotics equipment in the year 2017.

With the production of around 153,000 units in 2016, Japan is the number one manufacturer of industrial robots worldwide. At present, Japan accounts for around 52% of the total supply of robotics globally. Japan exports industrial robots and its parts to countries like Republic of Korea, China, North America, and Europe.

Driven by electrical/electronics industry, Republic of Korea occupies the third position in global industrial robots market. By far, Republic of Korea has the highest robot density in the world with around 630 robots per 10,000 employees, which is even more than 8 times the average amount globally.

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Commercial Building Automation Market Types, Key Companies Analysis and 2024 Forecast Report

The global commercial building automation market is growing at a significant rate as the need for energy-efficient buildings in increasing. Companies and governments of various regions have shifted their focus on constructing green building which has led to the growth of commercial building automation market. Various initiatives such as mergers and acquisitions, launching improved products, and penetrating into new markets played a crucial role in the development of commercial building automation market.  The market is highly fragmented owing to the presence of large number of regional players. Few of the prominent players operating in the global commercial building automation market include Honeywell International Inc. (U.S), ABB Ltd. (Switzerland), Ingersoll Rand Plc. (Ireland), Robert Bosch GmbH (Germany), Hubbell Inc. (U.S), Siemens AG (Germany), Johnson Controls International plc. (U.S), Schneider Electric SE (France), and Cisco Systems Inc. (U.S) among others.

The commercial building automation market was valued at US$77.63 billion in 2016 and is anticipated to reach at US$108.49 billion by the end of 2024 globally. The market is expected to grow at a CAGR of 4.3% steadily during the forecast period. According to product segment, the global commercial building automation market is bifurcated into interfacing components, HVAC systems, light sensors, power supply, security & surveillance, and room automation. Among these, HVAC system segment is likely to dominate the market in the forecast period.

As per material, temperature and lighting control segments are expected to retain their positions in the forecast period 2015-202 too. The global commercial building automation market is divided into different regions which include Europe, North America, Asia Pacific, and some other regions.  Europe and North America are anticipated to hold the majority market share throughout the forecast period. Energy-efficiency and cost-effectiveness is one of the main driving factors for the growth of commercial building automation market in North America and Europe. Also, Asia Pacific is expected to grow at a significant rate owing to the increasing demand for this market.

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Construction Sector to Drive the Global Building Automation Market at a Significant Rate

The global commercial building automation market is expanding and is expected to see lucrative growth due to the continuous developments in construction sector. With the rising economic growth, demand for construction projects has increased across the globe. Regions such as Middle East and Africa possess a powerful base in terms of commercial building automation and therefore, is estimated to drive the market growth in the coming years. Rapid development in the construction sector has also led to reduce volumes of materials coupled with less use of power. Adding to this, the governments have imposed various strict guidelines over the effective utilization of resources as environmental pollution has been increasing over past few years. This is estimated to positively impact the commercial building automation development in the coming years.

Low Investment Return and High-value to Restrict Growth of Commercial Building Automation Market

Although the market is growing worldwide yet there are some challenges faced by commercial building automation system. The cost involved in maintaining, operating, and installing these systems is higher. Due to these high costs, the new entrants are finding it difficult to penetrate into the market. Also, the low rate of return is impeding the adoption of commercial building automation to the end-users. In the coming years, this factor is predicted to create some issues for the small players in commercial building automation market globally.

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NFC Chips Market Production and Revenue by Type

The global near-field communication (NFC) chips market has been prognosticated in a report by Transparency Market Research (TMR) to be highly consolidated with NXP Semiconductors securing a stronger share in the recent past. The company could sustain its position all through the course of the forecast period 2016-2024. The market includes other leading companies such as Qualcomm Inc., STMicroelectronics, and Broadcom Corporation that are actively involved in partnerships and mergers and acquisitions. This could intensify the competition in the market in the coming years. The report has shed more light on other factors that could impact the vendor landscape of the market.

TMR has envisaged the NFC chips market to post a whopping CAGR of 26.0% to attain a valuation of US$10.62 bn by the concluding forecast year. On the basis of application, the market could gain immensely from smartphones anticipated to secure a larger share in the near future. By region, Asia Pacific may snatch the dominance from North America while expanding at a 27.90% CAGR.

Application in Consumer Goods Surges with Improvement in User Interface Applicability

According to a lead analyst at TMR, the world NFC chips market could primarily collect growth from the rising application in consumer electronics. In the recent years, the application of NFC chips in consumer goods has increased considerably due to their ability to improve the applicability of user interfaces and simplify them. There could be substantial growth prospects created with the extensive use of NFC chips in smartphones as well.

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Rising disposable income of people and their swelling interest in luxury goods have been expected to augur well for the growth of the consumer electronics industry, which could in turn augment the demand for NFC chips.

Complexity in Product Designs Causes Future of NFC Chips to Look Dull

Lack of awareness about NFC chips and complexity in their product designs could hamper the adoption rate in the foreseeable future. However, with the improving demand for NFC-enabled point of sale terminal (POS) terminals around the globe, the international NFC chips market has been envisioned to draw a handsome growth from the aviation and retail industries.

Furthermore, the emergence of various NFC models and strong partnerships between organizations tokenizing cards using NFC chips and prominent banks could bring in lucrative opportunities in developed regions such as North America. Emerging regions such as Asia Pacific, on the other hand, have been prophesied to take advantage of the rising count of smartphone users.

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The information presented in this review is based on a TMR report, titled “NFC Chips Market (Application - Smartphone, Television, Medical Equipment, and Car; Storage Capacity - 64 Bytes, 168 Bytes, 180 Bytes, and 540 Bytes; End User - Consumer Electronics, Automotive, Retail, Medical, and Aviation) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

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