Energy Management System Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

The rising requirement for EMS in emerging economies is creating wide opportunities for the players operating in the EMS market. Because of the surging demand for efficient energy sources to replace traditional energy sources, the market has been witnessing a continuous rise in research and development activities from the market players. 

Another factor leading to the growth of the EMS market is the electrical energy price volatility, which occurs because of demand and supply dynamics. Factors such as economic development, lack of energy supply, and extreme weather conditions also trigger an increase in energy prices. A primary driving factor of the EMS market is the growing adoption of EMS in building automation. 

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In addition to this, the surging exploitation of fossil fuels, which are the major sources of energy at the present time, will compel people to turn to more expensive forms of energy generation. Thus, to cope with these situations, the demand for EMS is increasing. Consumers are increasingly becoming concerned regarding the soaring energy cost and thus are adopting EMS solutions.

Countries such as China and India are witnessing an increase in an urban population attributed to the rapid industrialization, which is further leading to the growing need for electrical energy. This is projected to create a rising demand for EMS in developing countries in the coming years. 

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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.

Hence, the rising adoption of EMS in building automation and electrical energy price volatility are leading to the growth of the market. 

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Global E-Cigarette Market is Expected to Grow at a CAGR of Over 21.6% During the Forecast Period

One of the drivers of the e-cigarette market is the prospects of ashless and smokeless vaping. Burning of tobacco produces smoke, which is not only harmful to humans but also the environment at large. 

E-cigarettes generate mist, which, in a matter of seconds, dissolves in the air, unlike the smoke that remains suspended. Additionally, as these cigarettes do not produce ash and aren’t burnt, the need for constant ash-flicking and disposing cigarette butts is eliminated. Due to their smokeless feature, they can be used in places where smoking is not allowed.

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Manufacturers operating in the e-cigarette market are presented with immense growth opportunities in regions, such as Africa, Latin America, and Asia-Pacific. Tobacco companies operating in these regions are taking help of different channels, such as retail partners, e-commerce, and grocery stores to expand their market presence and customer base.

Besides this, these companies are also engaging local and national-level distributors to supply products to different distributing channels. Owing to the growing popularity of these products, tobacco companies are heavily investing in the product research & development.

Therefore, the global market for e-cigarette is set to register substantial growth in the forecast period due to the rising health concerns and popularity of smokeless and ashless vaping.

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Air Ambulance Services Market Growth and Demand Forecast to 2030

In 2019, the global air ambulance services market generated a revenue of $8.9 billion and is predicted to attain a value of $15.9 billion by 2030, registering a 5.4% CAGR during the forecast period (2020–2030). In terms of service type, the hospital-based category is projected to grow at a faster pace during the forecast period. This is due to the fact that a large number of public health centers are integrating air ambulance services for patients in emergency situations, primarily in emerging economies.

In terms of aircraft type, the rotary-wing category accounted for the major share of the air ambulance services market during the historical period (2014–2019). This was ascribed to the fact that majority of the patient transports in developed nations, such as the U.K. and the U.S., are done using helicopters. Rotary-wing aircrafts are primarily utilized for short and medium-distance transport and majorly within the city or state boundaries. The fixed-wing category is expected to grow at the faster pace during the forecast period.

Air Ambulance Services Market

The Asia-Pacific (APAC) region is predicted to register the highest growth rate in the air ambulance services market during the forecast period. This is because of the increasing presence of helicopter ambulance services in the region and growing number of patients suffering from life threatening diseases, who need immediate medical care. Apart from this, the governments of several countries in the region are making efforts for introducing air ambulance services for increasing the survival rate of the patients.

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Increasing government efforts for introducing and increasing air ambulance services is a major trend being observed in the air ambulance services market. The government of Tamil Nadu, India, announced in August 2019 that it is setting up air ambulance facilities for transporting patients or people who are injured in road accidents at faraway places to healthcare centers that are situated within 200–300 km radius. In addition, China has also launched a pilot project to conduct air ambulance operations for patients at places that have a lack of medical facilities.

The research offers market size of the Global Air Ambulance Market for the period 2014–2030.

Market Segmentation by Aircraft Type
Rotary-Wing
Fixed-Wing

Market Segmentation by Service Type
Hospital-Based
Community-Based

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How are Government Efforts Helping Patient Engagement Solutions Market Advance?

The primary drivers for the patient engagement solutions market include the launch of several value-based programs, government efforts to create a patient-centric healthcare model, rising adoption of such solutions by the elderly, surging cost of healthcare, increasing use of mobile health (mHealth), and growing requirement for wearable medical devices. Witnessing a 16.9% CAGR during the forecast period, the market revenue is projected to rise to $21.9 billion by 2023, from $8.5 billion in 2017. Such solutions utilize internet of things (IoT) to improve the doctor–patient communication.

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Under the component segment, services, software, and hardware are the three divisions. Among these, by generating 56.8% of the total revenue, the software division led the patient engagement solutions market in 2017. Across the world, the trend of software customization is growing, as such software helps smoothen the healthcare process and simplify complex data sets. During the forecast period, the services category is predicted to witness growth at the highest CAGR in the market.

The increasing support by the governments for implementing a patient-centric healthcare model is playing an instrumental role in leading the patient engagement market to prosperity. For instance, under the Health Information Technology for Economic and Clinical Health (HITECH) Act, the U.S. federal government offers incentives to medical centers, to encourage the adoption of electronic health records (EHR) and patient engagement solutions. On similar lines, the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) is aimed at improving patient care and engagement, via the Quality Payment Program.

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In 2017, North America was the largest patient engagement solutions market, on a regional basis, with a value share of 45.5%. This is credited to its advanced healthcare infrastructure, increasing number of healthcare information technology firms, and rising cases of chronic diseases. During the forecast period, Asia-Pacific (APAC) is expected to grow at the highest CAGR, of 18.8%, as a result of the increasing awareness on the usefulness of such solutions for disease management, rising prevalence of chronic diseases, and increasing population of the elderly.

Hence, with governments around the world taking active initiatives to tackle diseases and improve patient care, the usage of patient engagement solutions would surge further.

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Voice Assistant Market Analysis, Growth Opportunities and Recent Trends by Leading Manufacturers & Regions

Different application areas of voice assistant software are contact centers, messenger bots, and websites. Some other application areas are smartwatches, smartphones, smart speakers, and laptops. Out of these, the largest demand for voice assistant software was created for messenger bots during 2014–2019. The reasons for this are the rising utilization of online platforms for buying products and surging penetration of the internet. 

The U.S. voice assistant market is expected to lead the regional market on the basis of geography. The Asia-Pacific region is projected to witness the fastest growth in demand for voice assistant software in the coming years because of the increasing number of contact centers and rising penetration of smartphones in the region.

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The fastest growth in demand for voice assistant software is predicted to be witnessed for the contact centers application during the forecast period, as the integration of voice assistant solutions in contact centers aid in understanding customer insights in a better way. A major reason behind the rising popularity of voice assistants is the increasing need for enhanced customer experience. Voice assistant technology improves user experience by providing proper assistance in minimal time. 

Users expect quick and relevant answers from enterprises while making use of voice search. Attributed to this, the industry players are increasingly collaborating with voice assistant solution providers for enhancing customer experience. This is projected to result in an increased demand for voice assistant services and solutions in the coming years.  

When geography is taken into consideration, North America generated the largest demand for voice assistant software during 2014–2019 and the situation is predicted to be the same during the forecast period as well, owing to the changing lifestyle of people and swift adoption of technologies such as deep learning, machine learning, cognitive computing, and NLP. 

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Electric Vehicle Battery Swapping Market Developed Rapidly in India

Due to increased run-time and improved remunerative prospects for shared e-mobility drivers, the demand for electric vehicle (EV) battery swapping is rising in India. The market is likely to be dominated by electric three-wheelers as these vehicles are majorly used for passenger carrier and run on an average more than 100 km a day. Since with each full charge these vehicles run less than 100 km, these are required to be charged twice or thrice a day. Battery swapping technology offers best alternative to slow charging and helps the drivers to make optimum use of the operational hours. However, commercial vehicle category is projected to grow at the fastest rate during the forecast period in the Indian EV battery swapping market.

Pay-Per-Use Model Is Expected to Dominate the Market Throughout the Forecast Period
Based on service type, the pay-per-use category is expected to hold the larger share in the Indian EV battery swapping market in 2020, and is further projected to remain the dominant category during the forecast period. This can be buoyed by the preference of the vehicle drivers to pay as per their usage, due to lack of fixed usage pattern of their vehicles. For instance, it is observed that electric two-wheeler riders generally do not prefer driving for longer distances. Since they do not require much battery swaps for running for short distance, majority of the drivers are expected to opt for pay-per-use model.

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Product Launches Is the Strongest Strategic Measure Taken by the Players in the Market
To gain a competitive edge over other players in the Indian EV battery swapping market, the companies are focusing on offering products and services, and working in collaborations with other market leaders to expand their reach. From the competitive landscape view, the Indian EV battery swapping service providers can boost their market share by seizing the growth opportunities presented by:

• Forming partnerships with vehicle manufacturers, battery manufacturers, and utility providers in order to deploy battery swapping technology at faster rate
• Targeting electric autos and electric buses as these holds huge potential for service expansion
• Aiming shared mobility section, including two-wheeler sharing, as majority of electric vehicles will be deployed for shared mobility and drivers would opt for battery swapping to make optimum use of the operational hours
• Focusing on cities where battery swapping service deployment is profitable, such as Bangalore, Delhi, and Nagpur and entering into emerging areas, such as Hyderabad and Ahmedabad, where battery swapping holds significant opportunities

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Some key players operating in the Indian EV battery swapping market are Ola Electric Mobility Pvt. Ltd., Lithion Power Pvt. Ltd., SUN Mobility Pvt. Ltd., Exicom Tele-Systems Ltd., Panasonic India Pvt. Ltd., and Twenty Two Motors Pvt. Ltd. (22KYMCO).

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Automotive Aftermarket Industry Revenue and Market Expansion Strategies

The increasing internet penetration and growing online product portfolio of auto parts manufacturers are expected to fuel the growth of electronic retailing (e-tailing) in the global automotive aftermarket. Moreover, the availability of a wide range of products and hassle-free transaction options, with timely delivery, as per the consumer preference, will further result in a shift of consumers from traditional brick-and-mortar stores to e-commerce platforms. Equipment such as headlights and lighting components and dashboard instruments are easily available on online portals. Due to these factors, the global automotive equipment aftermarket is expected to grow from $78.18 billion in 2019 to $145.07 billion by 2030.

Automotive Aftermarket Industry

Based on component, the equipment category is expected to progress with the highest CAGR, of 5.89%, during the forecast period. Dashboard instruments, under the equipment category, are expected to witness the fastest growth during the forecast period. With the rapid installation of technologically advanced and connected aftermarket instruments, including smart instrument clusters, central displays, and warning and information lights, in passenger cars, the automotive aftermarket is expected to witness significant growth during the forecast period.

What are the factors impacting the growth of this market?

1. Online Distribution Channels are Expected to Register Higher Growth Rate throughout the Forecast Period
2. Mergers and Acquisitions, Divestures, and Partnerships to Generate Growth Opportunities for Automotive Aftermarket Component Manufacturing Companies

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Globally, Asia-Pacific (APAC) was the largest market for aftermarket components during the historical period (2015–2019). The regional market is mainly driven by the rising number of vehicles in operation and average age of vehicles in countries such as China, Indonesia, Malaysia, and India. Additionally, the Latin American, Middle Eastern, and African (LAMEA) automotive aftermarket is growing rapidly, on account of the escalating demand for electric vehicles in the region. This, in turn, is expected to increase the requirement for electrical and other related equipment in the region, during the forecast period.

The significant players operating in the global automotive aftermarket are Robert Bosch GmbH, DENSO CORPORATION, Delphi Technologies PLC, Continental AG, ZF Friedrichshafen AG, Mando Corporation, Dana Inc., Knorr-Bremse AG, Valeo SA, Meritor Inc., Tenneco Inc., BorgWarner Inc., and HELLA GmbH & Co. KGaA.

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