Electrical Energy Price Volatility Driving Energy Management System Market

In 2017, the energy management system (EMS) market generated a revenue of $39,520.0 million and is projected to advance at a 19.3% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the stringent government regulations and government incentives, electrical energy price volatility, and growing adoption of EMS in building automation. An integrated system which is designed for enabling automated monitoring and control of the energy devices in a building, such as lighting, heating, and ventilation, is referred to as EMS.

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On the basis of component, the EMS market is divided into field equipment, communication systems, software, control systems, other hardware, and sensors. Out of these, the software category dominated the market during the historical period (2013–2017) and is predicted to retain its position during the forecast period. The category is further classified into enterprise carbon & energy management, utility EMS, residential EMS, industrial EMS, and others (including energy trading & risk management software and energy modeling software). 

The utility EMS classification accounted for the major share of the market during the historical period. When vertical is taken into consideration, the EMS market is categorized into manufacturing, telecom & IT, retail, healthcare, power & energy, office & commercial buildings, education, residential, and others (which include government, banking, financial services & insurance, and hospitality). 

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Among all these, the power & energy industry held the largest share of the market during the historical period and is further expected to dominate the market during the forecast period. This is due to the abundant generation of energy and sale of electricity for different applications, such as mining and manufacturing.

A primary driving factor of the EMS market is the growing adoption of EMS in building automation. Consumers are increasingly becoming concerned regarding the soaring energy cost and thus are adopting EMS solutions. EMS aids organizations in optimizing the performance of the building by gaining full control over the building energy consumption and its cost. In addition to this, the governments in different regions, such as Middle East and Africa and Asia-Pacific, are focusing on showcasing the benefits of EMS through social media in order to increase their adoption.

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Smart Lighting Market Boom Led by Energy Efficiency and Emission Control Policies

Since the late 19th century, the average global temperatures have increased by around 0.9 °C, the National Aeronautics and Space Administration (NASA) says. The major reason behind is the greenhouse gases emitted by vehicles, houses, and industries, which trap the heat, but do not let it escape. Apart from climate change, these emissions also cause respiratory issues, such as lung cancer, asthma, and chronic obstructive pulmonary disease (COPD).

Thus, with the strong need to conserve electricity, so that the workload on the fossil-fuel-based power plants decreases, the smart lighting market is growing. Such lights are integrated with smart sensors and electronic circuits, which lead to a reduced power consumption.

As per estimates, in the next 25 years, the worldwide electricity demand would jump by around 50%, and to meet it, 700 power plants, each with a capacity of around 500 MW, will have to be constructed, at a cost of $1 trillion. Thus, to ensure as few emissions as possible and also save on money, electricity saving via smart lights is becoming popular.

Another reason behind the growing demand for smart lighting is the large number of initiatives being taken for the development of smart cities. As such infrastructure is specially designed to reduce the usage as well as check the wastage of energy, smart lighting is an essential component here.

With countries strongly pursuing the creation of such ecosystems, such as India under its ambitious Smart Cities Mission, the demand for smart lighting would continue rising in the coming years. Data related to CO2 emissions, humidity, audio-video activities, and ultraviolet (UV) light is gathered by the sensors in such lights.

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Further, with the rising need to control air pollution, technological advancements are being brought about in light-emitting diode (LED)-based illumination products. While LED lighting is already more energy efficient compared to traditional products, advancements in its technology are leading to a further decrease in electricity consumption.

Hence, as the focus on energy efficiency and emission control increases, so would the adoption of smart lighting across the globe.

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Electric Scooter and Motorcycle Market - Gearing up for Automotive’s Next Frontier

The global electric scooter and motorcycle market is projected to generate a revenue of $13,864.0 million by 2025, witnessing a 7.3% CAGR during the forecast period (2018–2025). The market is growing due to the tax concession on purchasing eco-friendly vehicles, favorable regulatory environment, low maintenance of these vehicles, and rising concern regarding environmental degradation. During the historical period (2013–2017), the larger demand, both in terms of value and volume, was created for scooters. The faster CAGR is projected to be registered by motorcycles during the forecast period, in terms of value and volume.

Two types of batteries are used in electric scooters and motorcycles, namely lithium-ion (Li-ion) and sealed lead acid (SLA). The electric scooter and motorcycle market was dominated by the SLA category during the historical period, both in terms of value and volume. The Li-ion category is projected to grow at a faster pace during the forecast period, in terms of value and volume. This is because Li-ion batteries have a higher density as compared to SLA batteries, thereby making them more efficient and lighter.

Geographically, the largest share of the electric scooter and motorcycle market was occupied by the Asia-Pacific region during the historical period, with a value share of more than 90.0% in 2017. Among all the countries categorized in the region, China accounted for the major value share of the market during the historical period and is projected to retain its position during the forecast period. This is attributed to the high-paced urbanization in the country, and its large population. India is projected to witness the fastest growth rate during the forecast period.

A major driving factor of the electric scooter and motorcycle market is the low maintenance of these vehicles. The need for periodic servicing of electric scooters and motorcycles is less than that of traditional vehicles, as these vehicles have fewer vibrating and moving parts. Because of this, the adoption of electric scooters and motorcycles is increasing, as people are not capable of assigning extra time for vehicle servicing. In addition to this, the cost associated with regular maintenance of vehicles is also reduced for electric two-wheelers.

Electric Scooter and Motorcycle Market 

The rising concern regarding environmental degradation is also a key factor contributing significantly to the growth of the electric scooter and motorcycle market. The carbon emissions from vehicles is a primary factor due to which the air pollution level is increasing rapidly. As these vehicles help in reducing the carbon footprints, the governments around the world are spreading awareness regarding their efficiency and reliability. Moreover, as a significant part of any smart city project is to reduce the carbon emissions, their development is further driving the adoption of electric two-wheelers.

Another factor driving the growth of the electric scooter and motorcycle market is the tax concessions on purchasing eco-friendly vehicles. In order to encourage the adoption of eco-friendly vehicles, the governments in various countries are offering reduction in registration tax and other incentives such as tax rebates and subsidies. For example, the Federal Government of the U.S. offered 10% electric motorcycle tax credit, of up to $2,500, on the purchase of Zero motorcycles (manufactured by Zero Motorcycles Inc.), in 2017.

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Hence, the market is registering growth due to the provision of tax concessions on purchasing eco-friendly vehicles, surging concern regarding environmental degradation, and low maintenance of electric two-wheelers.  

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Mobile Virtual Network Operator Market Dynamics Trends, Segmentation, Key Players, Application And Forecast

In 2018, the mobile virtual network operator market generated $61.7 billion and is projected to witness a 9.7% CAGR during 2018–2023. This is due to the rapid growth of triple play services in developing countries, segment-targeted pricing strategies and innovative distribution, and increasing penetration of mobile devices and demand for low cost mobile services. Mobile service providers who do not own licensed spectrum and cellular network infrastructure but buy wireless network infrastructure services at wholesale prices from mobile network operators for reselling it to customers at a reduced price are called MVNOs.

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On the basis of type, the MVNO market is divided into telecom, business, migrant, roaming, discount, media/entertainment, retail, and cellular M2M. The discount division held the largest share of the market during the historical period (2013–2017) and is further predicted to dominated the market during the forecast period. The roaming division is expected to advance at the fastest CAGR during the forecast period because several initiatives are being undertaken by MVNOs in various countries, including comprehensive roaming tariffs, to encourage people for traveling frequently, as it will increase the requirement for roaming offers.

When business model is taken into consideration, the MVNO market is categorized into reseller MVNO, full MVNO, and service MVNO. Out of these, the full MVNO category accounted for the major share of the market during the historical period and is expected to retain its position during the forecast period. The market for full MVNO is expanding rapidly because it offers features such as upselling of own service as value-added services, own sim cards, and complete customer ownership. Furthermore, non-telecom participants are projected to enter the market through full MVNO business model.

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The research offers historical market size of the Global Mobile Virtual Network Operator (MVNO) market for the period 2013–2017, and market forecast for the period 2018–2023.

Mobile Virtual Network Operator (MVNO) Market Segmentation

Market segmentation by Type

• Discount
• Cellular M2M
• Business
• Media/Entertainment
• Migrant
• Retail
• Roaming
• Telecom

Market Segmentation by Category

• Postpaid
• Prepaid

Market Segmentation by Business Model

• Full MVNO
• Service MVNO
• Reseller MVNO

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Ride-Hailing Market - Future of Taxi Apps & Factors Driving Their Growth

In 2018, the global ride-hailing market reached a value of $50.4 billion and is predicted to generate $120.2 billion in 2024, advancing at a 13.0% CAGR during the forecast period (2019–2024). The market is witnessing growth due to the rising concerns toward environmental degradation, government initiatives, convenient and economically efficient mobility option, and road congestion in urban areas. Ride-hailing services are offered by transportation network companies that utilize online mobile applications for matching commuters’ transport needs of reaching specific destination from specific origin

When vehicle type is taken into consideration, the ride-hailing market is categorized into executive, luxury, and economy. The economy category accounted for the major share of the market during the historical period (2014–2018) and is projected to dominate the market during the forecast period as well. The reason for this is that the number of cars offered in this category is the highest as compared to other categories. Majority of the customers opt for ride-hailing services for shorts and medium distance travels and do not prefer to invest in luxury or executive cars.

Among all the regions, namely Asia-Pacific (APAC), North America, Europe, and Rest of the World, the APAC region dominated the ride-hailing market during the historical period and is further expected to account for the largest share of the market during the forecast period. This is because of the rising requirement for ride-hailing services in the region and increasing concern regarding surging pollution. In addition to this, the need for alternative mobility options for dealing with road congestion during peak hours and growing internet penetration are also contributing to the rising demand for these services APAC.

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A major driving factor of the ride-hailing market is that this mobility option is convenient and economical. High investment, which includes fuel cost, maintenance charge, vehicle cost, insurance cost, and parking expense, is required for owning a private vehicle. However, ride-hailing services allow users to enjoy the facilities of owning a private vehicle and make payments on the basis of their usage only. The additional expenses are taken care of by the service providers. Furthermore, these services are particularly convenient for the daily commuters, as they are generally available round the clock and throughout the year.

The increasing concern toward environmental degradation is another primary driving factor of the ride-hailing market. Environmental agencies’ concerns regarding the degrading quality of air caused by the rising amount of exhaust fumes from vehicles are resulting in the undertaking of several initiatives by the government. Greenhouse gas emissions from vehicles have compelled the governments across the world to form strict environmental policies. Ride-hailing services can prove to be an efficient solution regarding reducing the emissions from vehicles, as the increasing use of these services can reduce the number of vehicles on the road.

The introduction of robotaxis is a key trend that is being observed in the ride-hailing market. Autonomous taxis will offer ride-hailing services at much lower cost because of their higher utilization rate as compared to mobility services that are currently present. This can further result in the shift in preference of customers from buying personal vehicles to availing ride-hailing services. Attributing to these factors, different vehicle manufacturers and technology companies are increasingly focusing on the development of autonomous taxis.

Thus, the market is growing due to the surging concern regarding environmental degradation and convenience and economic viability of ride-hailing services.

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Rising Demand for Electric Vehicles Driving the Growth of Battery Management System Market

In 2019, the global battery management system market generated $5.1 billion and is expected to reach $22.3 billion in 2030, advancing at a 14.5% CAGR during the forecast period (2020–2030). 

An electronic system which controls and monitors the charging and discharging of rechargeable battery is called BMS. The system is utilized for calculating the battery data, monitoring the state of the battery, and balancing the cells of the battery. When battery type is taken into consideration, the battery management system market is divided into lead-acid, lithium-ion, nickel, and other (which include sodium-sulfur and flow). 

Out of these, the Li-ion battery type dominated the market during the historical period (2014–2019), both in terms of value and volume, and is expected to account for the major share of the market during the forecast period as well. 

In terms of vertical, the battery management system market is categorized into telecommunications, automotive, aerospace & defense, industrial, consumer electronics, and others (which include infrastructure, marine, and medical). 

Out of these, the automotive sector held the largest value share of the market during the historical pried and is expected to retain its position during the forecast period. This is because of the increasing demand for electric vehicles, primarily in Turkey, China, India, and Canada. The sector is further projected to grow at the fastest pace during the forecast period.

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The rising demand for EVs, which is attributed to the increasing consumption of fuel in traditional vehicles and surging pollution levels, is a key driving factor of the battery management system market. The adoption of EVs thus is increasing to take care of the surging vehicular pollution in various countries. 

For example, New Zealand joined the EV initiative in 2018 and is focusing on the transition to a net-zero emissions economy by 2050. BMSs are utilized in EVs to control the cells’ voltages and to optimize the performance of the battery.

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Artificial Intelligence (AI) in Cyber Security Market to Observe $17.0 Billion Growth by 2023

Ever since data sharing between two computing devices became possible, cyber-attacks have been leading to huge financial losses all across the world. There are several types of cyber-crimes, such as data and identity theft, email and password hacking, phishing, denial of service (DoS), distributed denial of service (DDoS), and fraudulent transactions. With the increasing awareness of organizations on the issue, they are spending more than before on cyber security. But criminals are always one step ahead, as even before some new data or network security software is launched, they find out new ways to get into the system.

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Data security, network security, cloud security, and identity & access security, are the various services offered via vendors. Out of these, network security was the most widely provided service via such solutions, during 2013–2016, due to the growth in the usage of wireless communication devices and the vulnerability of wireless networks to attacks. During the forecast period, the usage of these solutions would increase the fastest for cloud security, as a result of the rising popularity of cloud computing. To save on operational costs, businesses are shunning traditional application deployment platforms in the favor of cloud.

Thus, with cyber criminals becoming increasingly smart and the rate of internet-based attacks rising, the artificial intelligence(AI) in cyber security market is expected to grow too, from $1.2 billion in 2016 to $18.2 billion by 2023, at a CAGR of 36.0% during 2017–2023 (forecast period). While large enterprises are already adopting such solutions to fend of attackers, many mid-sized and other small businesses haven’t yet followed suit, due to lower budgets. 

This is why internet-based attacks are being increasingly carried out on such companies, which is expected to prompt many of these to use AI to protect their information technology (IT) infrastructure, software, applications, and critical information. In the same vein, cloud computing is also making inroads into cyber security, as it is more affordable for companies, especially small and medium enterprises. 

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Cloud-based protection for the IT infrastructure improves data collection and collaboration and threat modeling, blocks threats, and reduces the time between threat detection and neutralization. Additionally, it also allows businesses to do away with the need to hire support personnel and helps better manage their IT data, computing devices, servers, networks, and applications.

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