Solid State Transformer Market to Witness Steady Expansion During 2021-2027

According to a new research report published by Transparency Market Research (TMR) , the global solid state transformer market is expected to reach value of US$ 1,141.0 Mn by 2027, expanding at a CAGR of 21.7% from 2019 to 2027. According to the report, the global market is likely to continue to be influenced by a range of macroeconomic and market-specific factors in the next few years. In terms of demand, Europe is projected to continue to lead the global market, with the market in the region expanding at a CAGR of 23.4% between 2019 and 2027.

Rising demand for use in high-speed trains and high-power electric locomotives driving the global solid state transformer market

The global solid state transformer market has witnessed strong growth over the last decade. One of the major drivers of the market is rising demand for SST for use in high-speed trains and high-power electric locomotives. High-speed trains and high-power electric locomotives offer several advantages such as greater transport capacity, higher speed, reduced emissions, and energy saving.

Furthermore, new types of high-speed traction drive systems required for high-speed trains and high-power electric locomotives use an inverter unit, a solid state transformer, a traction motor, and other key components in order to increase the system efficiency. Furthermore, solid state transformers used in high-speed traction drive systems with a high-power, high-frequency, LLC-resonant converter are useful to reduce volume and weight. SSTs also improve grid-side power quality. All these advantages are expected to increase deployment of SST-based traction systems in the near future. This, in turn, would drive the global market for solid state transformer during the forecast period.

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Global Solid State Transformer Market: Scope of Report

The global solid state transformer market has been broadly segmented in terms of product, component, application, and region. Based on product, the market has been divided into distribution SST, traction SST, and power SST. The power SST segment was dominant, holding 42.95% share of the global market, in terms of revenue, in 2018. However, the traction SST segment is anticipated to expand at the maximum CAGR of 22.6% during the forecast period. This growth can be attributed to increasing penetration of solid state transformers in the traction locomotive sector. In terms of component, the global solid state transformer market has been classified into converters, switches, high-frequency transformers, and others.

The converters segment is expected to continue its dominance during the forecast period. The segment is expected to expand at a high CAGR of 22.3% from 2019 to 2027. Based on application, the market has been categorized into alternative power generation, traction locomotives, power distribution, electric vehicle charging, and others. Among these, the electric vehicle charging segment is anticipated to witness significant growth, expanding at a CAGR of 23.9% during the forecast period. This is attributable to factors such as favorable government initiatives and support, the issue of global warming, and increase in fuel prices. Electric vehicles offer advantages such as reduced CO2 emissions, low cost of running and maintenance, and eco-friendliness.

Geographically, the global solid state transformer market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to hold the maximum share of the global market during the forecast period. The market in the region is projected to expand at the maximum CAGR during the forecast period. In 2018, Europe accounted for 35.79% share of the global solid state transformer market. This is attributable to the large number of installed renewable energy sources and high investments in research and development activities in the region.

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Global Solid State Transformer Market: Competition Dynamics

The research study includes profiles of leading companies operating in the global solid state transformer market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Some of the prominent players operating in the global market are ABB Ltd., Alstom SA, Amantys Limited, Eaton, General Electric Co., Gridbridge, Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, and Varentec, Inc. Companies are focusing on expanding their business through strategic acquisitions and partnerships.

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Submarine Cable System Market 2021, Scope and Price Analysis of Top Manufacturers

Submarine cable systems are placed underwater for integrating communication and electrical transmission across the stretches of sea and ocean.  Laying of these cables takes place with the help of special ship. Rapid modernization intensifies the global submarine cable system market. Rising number of telecom and internet subscription across the globe paves a way for submarine cable system market. Submarine cable systems attempting to deploy cables in areas that were never attempted before. Submarine cables are essential in today’s world, at par with sea freight and global positioning system. The global submarine cable system market to witness an astounding market during the forecast period.

An upcoming Transparency Market Research report provides insights on size, share, trend, and growth of the global submarine cable system market. It also shares insights about the factors driving and restraining the market growth along with the competitive dynamics and regional insights of the global submarine cable system. In short, the report talks about the behavior of the global submarine cable system market during the forecast period.

Global Submarine Cable System Market: Drivers and Restraints

Rise in the number of internet users and ever increasing internet traffic is one of the key factors driving the global submarine cable system market towards expansion. Interlinking countries and to promote economic growth across the globe drives the global submarine market to broaden during the forecast period. High reliability and its capacity of underwater cables act as another growth factor in the global submarine cable system market. Submarine cables are cost efficient which drives the global submarine market towards expansion. Submarine cables are getting promoted by the governments across the globe. This provides impetus to the global submarine cable system market.

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Huge repair and maintenance cost, fishing and shipping activities are likely to be the restraints in the global submarine cable system market. Besides, natural disasters and entry barriers to startups and Small scale enterprises could also hinder the growth.  Regardless of the restraints, the global submarine cable system market is likely to grow at a stellar rate due to rapid modernization and digitalization across the globe.

Global Submarine Cable System Market: Regional Outlook

The global submarine cable system market is divided into five key regions. They are North America, South America, Europe, Asia Pacific, and Middle East and Africa. Asia Pacific is expected to dominate the global submarine cable system market. High investments being made in the submarine cable systems is supposed to be the cause for growth in this region. Also, Africa, Europe, Latin America, and Australia and New Zealand are projected to register a higher growth in the global submarine cable system market during the forecast period.

Global Submarine Cable System Market: Competitive Dynamics

The global submarine cable system market faces stiff competition worldwide. The key players in the market are venturing into mergers and acquisitions. They are expected to launch new products in the market. Also they are expected to develop new technologies in the submarine cable system market. Such strategies will probably help them win over competitive edge in the global submarine cable system market during the forecast period. Thus, resulting in grand growth of the global submarine cable system market.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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Deep Learning Systems Market Business Opportunities 2025

Deep learning is one of the machine learning algorithms which use many layers of nonlinear processing units primarily for the data extraction and transformation. The deep learning algorithms are basically based on distributed representations. The increasing demand for improved system and human interaction acts as driving factor for the market. As the deep learning algorithms offers expert assistance and it primarily helps humans to extend their capabilities. The market has been segmented into by application which includes signal recognition and processing, data mining, machine vision, satellite and medical imaging recognition, robotics among others. The market for deep learning systems by region has been segmented into, Europe, Asia Pacific, MEA(Middle East and Africa), North America  and South America.

Deep learning systems primarily develop a deep domain insight and transfer the required information to the end-users in usable way. For example, deep learning system has its huge applications in the banking and financial sector as it primarily helps bank employees to extend their work capabilities and allow banking institutions to focus more on customer interaction than the conventional transaction-based approach. Moreover, the deep learning software offers solutions on the basis on analyzing client’s background and history and provides evidence and contextual based reasoning for any problems.

With the increasing research and development activities the end use area of deep learning systems  are expanding which includes defense and aerospace, healthcare, oil and gas, telecommunication and information technology, retail, banking and financial sector, automotive, industrial among others. The deep learning system has huge potential applications in medical domain for image processing drug discovery and diagnosis and identification of chronic diseases. There are few more major applications for the deep learning systems which include autonomous car, cyber security, data analytics, and fraud detection among others.

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Rising technological advancement in the field of media and advertisement is also fueling the growth of the deep learning systems market. Application and usage of complex algorithms for the deep learning technology is one of the prime restraints for the market which may inhibit the growth of the market. However, advanced analytical tools which primarily deals with a massive volume of data of wide variety are enabling engineers and geoscientists in understanding the nature and extent of oil reservoirs. Increasing research activities in the field of data analytics software, the deep learning systems has huge potential opportunities in the consumer electronics field, research laboratory systems.

In 2016, North America accounted for the highest share of the deep learning systems market, followed by Europe and Asia Pacific. Robust growth in the data mining and increasing development in the data generation across end use industry verticals which include the financial services, banking and insurance (BFSI), retail, healthcare, is stimulating the growth of deep learning systems market across North America. The U.S. is dominating the market for deep learning systems across North America. In Europe, Germany, The U.K., Italy, Russia and France is contributing in the positive growth of the market. Increasing research activities and demand for high end algorithms for data processing is pushing the growth of the market.

In Asia Pacific, China, India, Australia among others is holding a prominent position in the deep learning systems market. Huge development in the information technology and telecommunication sector is considered as one of the key drivers for the market across Asia Pacific region.  Brazil and Argentina both are prime contributors in the deep learning systems market in South America.  Growing retail sector, advancement in the different industrial fields which include oil and gas and mining along with development in the financial sector is also boosting the market for deep learning systems in UAE, South Africa across Africa and Middle East.

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Intel Corporation (The U.S.), Hewlett Packard Enterprise Company (The U.S.), Google Inc. (The U.S.), Microsoft Corporation (The U.S.) and International Business Machines Corporation (The U.S.) among others are some of the key companies operating in the deep learning systems market globally.

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Near Field Communication (NFC) Market to Achieve Record Revenue Levels by Foremost Industry Players

Healthcare sector is the expected to be the largest adopter of the near field communication technology. The technology can help the medical institutes to deliver the health records directly by making the devices come in contact with each other. The near field communication technology uses current mobile technologies along with cloud and being considers a revolutionizing method to improve the healthcare infrastructure across the globe. Owing to these rising adoption of near field technology in healthcare sector, the global near field communication market is projected to witness a significant growth during the tenure of 2019 to 2027.

A recent Transparency Market Research report on global near field communication market provides in-depth analysis to the players. The report helps the readers to have a crystal clear picture about dynamics of the global near field communication market which as a result help them have a sustainable future in the global near field communication market. It provides insights on facets such as challenges, developments, opportunities, and trends that are prevalent in global near field communication market during the tenure of 2019 to 2027.

Global Near Field Communication (NFC) Market:  Competitive Analysis

The global near field communication market moderately fragmented and highly competitive. This scenario of the market is the result of dominance of handful of players over the dynamics of the market. Because of this situation, new players are thinking that its hard to enter the worldwide near field communication market.

So as to beat this test, the new players are combining and teaming up with a few different organizations to accomplish maintainability in the worldwide near field communication market. These systems permit the players to get basic assets that may assist them with increasing a reasonable future in the near field communication market.

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Then again, the built up players are securing different organizations to keep up their predominance in the global near field communication market. With the assistance of this procedure, the set up players can upgrade their creation limit and distribution network. Inferable from these procedures the built up players can increase a critical serious edge over their adversaries.

In addition, the players are additionally putting resources into research and advancements in order to acquire new items the market. This will assist the players with acquiring new clients while holding the current ones. This will additionally help the players of worldwide ultra top notch board market to have an effective future in the near field communication market from 2019 to 2027.

Global Near Field Communication (NFC) Market: Key Drivers

Innovative Patient Monitoring to Drive the Growth

There are numerous advantages of patient observing through NFC, which incorporates Ideal Technology for medication for understanding checking, for example, keen sensor, which estimates physical state of patients, and in this manner, transmits the information to close by checking gadgets, versatile systems, and clinical experts for observing and assessment. Answer for quiet checking can be standard or modified to get customized treatment and secure clinical information, consequently, numerous organizations are planning redone NFCs for patients. Secure physical access is given by NFC labels to following patient information. Home observing by NFC-empowered gadgets is by and large progressively utilized, and therefore, clinical information can be transmitted to the doctor. This is the major factor that drives the growth of global near field communication technology market from 2019 to 2027.

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Global Near Field Communication (NFC) Market: Regional Analysis

The US populace has taken extensive measures toward clinical information security. Drug mistakes are expanding in the United States and can prompt expanded mischief to patient’s wellbeing, social insurance usage, and expenses. NFC diminishes medicine mistakes and potential adverse drug events (ADEs). The quick improvement and reception of data advancements are changing the clinical division in the United States. The US Food and Drug Administration (FDA) has ordered the wellbeing, viability, and security of the clinical gadgets in the nation. These developments are expected to bolster the dominance of North America in global near field communication technology market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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Electric Wheelchair Market Perceives a Fortifying Growth by 2027

The global electric wheelchair market is set to experience a boost in the growth rate during the forecast period. There are many factors that may influence the growth rate of the electric wheelchair market. Convenience and stability are significant for a rise in the sales of electric wheelchairs. Furthermore, the elderly population is more inclined towards the electric wheelchairs for convenience and ease of operation.

Electric wheelchair or electric-powered wheelchair (EPW), invented by George Klein originally for World War II veterans, is a wheelchair powered by an electric motor. It is a wheelchair that reduces manual activity or does not require any human assistance to move a wheelchair. This wheelchair comes in various types like center wheel drive, front-wheel drive, and standing electric wheelchair. The wheelchair type is used according to the type of surface and space on which the wheelchair is to be used.

The forthcoming research report by Transparency Market Research offers a foolproof analysis of the electric wheelchair market for the forecast period 2019-2027. The in-depth analysis provides insights into growth opportunities and the condition of the electric wheelchair market in the forecast period.

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Electric Wheelchair Market: Competitive landscape and notable developments

The electric wheelchair market has immense competition between the new players and the established players. This, in turn, has paved the way for mergers and acquisitions, joint ventures, and product development to maintain the dominancy in the electric wheelchair market. For instance, Drive Medical recently acquired Med quip Inc. to cement its product portfolio. Another example is Innova Care Concepts forging a partnership with Permobil for supplying electric-powered wheelchairs.

The manufacturers are making technological advancements to make their products more efficient and convenient for the user. A classic example is the development of ‘Scewo’ by the ETH Zurich team. Scewo is a self-balancing electric wheelchair that can go upstairs and downstairs without any human assistance.

In addition, manufacturers are also working on providing advanced wheelchairs at public places like airports. For instance, Japanese Company, WHILL designed self-driving wheelchairs having sensor-based anti-collision technology for providing a seamless experience to the users at the airport.

The key players of the electric wheelchair market are Invacare Corp, Sunrise Medical Inc., Drive Medical, Golden Technologies, Hoveround Corp, Pride Mobility Products Corp, 21st Century SCIENTIFIC Inc., and Merits Health Products.

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Electric Wheelchair Market: Key trends

Growing demand from the sports sector may fuel the electric wheelchair market. BMX motocross conducts a special racing event for the disabled community. It is a popular sport that sees considerable disabled community participation. The participants perform various tricks and top-level stunts using electric wheelchairs. The increasing participation of the disabled community may serve as a key driver for the growth of the electric wheelchair market.  A number of technological upgrades such as WiFi and Bluetooth additions to the electric wheelchairs are also expected to accelerate the growth of the electric wheelchair market. Suspension enhancements may also boost the sales of the electric wheelchair market. Permobil has launched the first wheelchair powered with Flexilink full suspension technology.

Electric Wheelchair Market: Regional analysis

Regionally, the electric wheelchair market is divided in North America, South America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. North America is expected to perform well in the forecast period. This is due to high investment capacity, better technological assistance, and relaxed government regulations. The Asia Pacific region may also observe better growth during the forecast period. Europe has factors similar to that of the North America. Therefore, it is also expected to see a good growth rate during the forecast period.

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Solar Powered Cars Market Evolving Technology and Growth Outlook 2021 to 2027

Transparency Market Research has published a new report on the global solar powered car market for the forecast period of 2019–2027. According to the report, the global solar powered car market is projected to reach ~ US$ 3.5 Bn by 2027, expanding at a CAGR of ~20% during the forecast period.

Global Solar Powered Car Market: Overview

• According to the report, the global solar powered car market is likely to be driven by the demand for zero-emission cars.
• Self-driving cars are more efficient and cost-effective, and curb transportation emissions.
• Key automakers such as Sono Motors GmbH, and Lightyear are projected to offer solar powered cars post 2020 and 2021, respectively, which, in turn, is expected to drive the solar powered car market.

Expansion of the Global Solar Powered Car Market

• The depletion of fossil fuel has prompted global automakers to search for a viable option to maintain their pace of progress and development. Solar powered cars is presently one of the best possible alternate solutions.
• The demand for zero-emission vehicles has compelled the automotive industry to design and develop new alternate technologies, such as solar powered vehicles that use solar radiant energy as a form of fuel to drive the vehicle.
• Additionally, the light weight of the car makes it fast and highly efficient as compared to the conventional fossil fuel powered car.

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Based on material, the global solar powered car market has been bifurcated into crystalline silicon solar cells and thin-film solar cells. The crystalline silicon solar cells segment is estimated to dominate the solar powered car market during the initial stages. This is primarily due to their advantages such as high efficiency, high stability, high reliability, and easy to fabricate. The segment is projected to dominate and account for over 98% share of the market by 2020. The crystalline silicon solar cells segment is anticipated to lose market share, as these are expensive and possess a low absorption coefficient as compared to that of thin-film solar cells.

Based on the type of car, the global solar powered car market has been divided into hatchbacks, sedans, and UVs. UVs and sedans are estimated to be highly lucrative segments during the forecast period, as the design of these vehicles offer larger surface area to absorb the sun’s rays, and hence, deliver high performance. In terms of electric car, the BEVs segment is projected to account for a dominant share of the market, owing to the higher demand for green mobility supplemented by government emission norms and policies. Moreover, BEVs curb pollution and require less maintenance. 

Regional Analysis of the Global Solar Powered Car Market

• In terms of region, the global solar powered car market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe and Asia Pacific are expected to hold prominent shares of the global solar powered car market. This is due to the rising concerns about transportation emissions, requirement of economical solutions, increasing preference for zero-emission cars, and the existence of well-established automakers and automotive sector, leading to an increase in the development of the solar powered car market. Moreover, the presence of automakers and OEMs capable of offering solar powered cars and mass availability of solar powered car components in these regions have led to their higher shares, globally, as compared to that held by other regions.

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Prominent players operating in the global solar powered car market include Audi AG, Toyota Motor Corp, Ford Motor Company, Sono Motors GmbH, Mahindra & Mahindra Limited, General Motors, Volkswagen AG., Lightyear, Cruise Car Inc., Solar Electric Vehicle Company, Hanergy Holding Group, Venturi, and Clenergy TeamArrow.

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Intelligent Energy Management System Market Trends and Forecast by 2026|

Intelligent energy management system has become a necessity in hybrid and electric vehicles in order to manage the consumption of energy to perform different operations by different components of the vehicle. The system offers users the information they need to make informed decisions about energy consumption. The intelligent energy management system can reduce power consumption, thereby bring about more savings on energy usage.

The global intelligent energy management system market is likely to expand significantly during the forecast period due to rising preference for electric vehicles among society. Integration of intelligent energy management system in hybrid and electric vehicles is likely to boost the market. Most manufacturers are focused on the enhancement of the efficiency of vehicles among which, energy management is a key concern so that the expenditure of energy can be minimized. Consequently, the maximum amount of energy can be employed to propel the vehicle. Rising awareness in society about energy conservation is estimated to boost the intelligent energy management system market for automotive at a significant pace.

The global intelligent energy management system market for automotive can be segmented based on electrification type, vehicle type, and region. Based on electrification type, the hybrid electric vehicle segment is are likely to hold a notable share of the intelligent energy management system market, owing to the presence of a higher number of hybrid vehicles as compared to battery electric vehicles. Furthermore, switching the power source between battery and engine in hybrid vehicles, as per the required amount of energy, can be a critical task so that both power sources perform at their optimal level. Therefore, the intelligent energy management system is likely to play a significant role in energy management of hybrid electric vehicles.

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In terms of vehicle type, the passenger vehicle segment is projected to account for a significant share of the intelligent energy management system market, followed by the electric bus segment. Moreover, the electrification of passenger vehicles is rising significantly along with rising production of the electric cars, which in turn is projected to boost the intelligent energy management system market for automotive during the forecast period. On the other hand, most countries are emphasizing on the adoption of zero emission or low emission public transport for enhanced air quality control. Thus, the electric bus segment is likely to expand during the forecast period, which in turn is expected to propel the intelligent energy management system market for automotive.

In terms of region, Europe is likely to hold a prominent share of the global intelligent energy management system market, owing to the presence of a notable number of hybrid and electric vehicles in the region; however, the intelligent energy management system market for automotive in Asia Pacific is expected to expand at a rapid pace, owing to the rise in production of electric vehicles and increase in stringency of emission norms in the region. China is expected to lead the market for electric vehicles and hence, is expected to be a prominent intelligent energy management system market for automotive by the end of the forecast period.

Key global manufacturers of the intelligent energy management system market for automotive are Siemens AG, VDE VERLAG GMBH, NEC Corporation, Denso Corporation, and ABB Inc.

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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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