Service Integration and Management Market Regional Revenue, Trends, Opportunities and Future Prospects

SIAM offers cost efficiency and value enhancement, which is also a major driving factor of the SIAM market. Service integration of any business process flow results in an added expenditure for the enterprise. However, the adoption of SIAM models leads to the optimization of cost and increased service value for the company. 

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In 2017, the global service integration and management (SIAM) market reached a value of $2,995.3 million and is projected to advance at a 9.4% CAGR during the forecast period (2018–2023). Service quality enhancement leading to process efficiency and cost efficiency and value enhancement are the major factors resulting in the growth of the market. The governance, management, and coordination of services, such as IT and business, which are provided by multiple suppliers and integration of these services for providing solo business-facing service model is referred to as SIAM. 

In addition to this, the cost of service management for any organization gets reduced due to the adoption of SIAM model as it offers innovative technologies, proper use of skilled and scarce resources, competition between different service providers, and reduction in process execution costs. A key trend being witnessed in the SIAM market is the rising adoption of governance, risk, and compliance (GRC) management solutions. 

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The rising adoption of these solutions is because of the growing need for enhanced governance and control among different players operating in the domain. The various benefits offered by GRC management solutions include steady assurance of services and service providers and visible definition and application of a governance framework. It further defines the responsibilities, services, and roles within an organization, which is why its demand is increasing.

Hence, the market is being driven by cost efficiency, value enhancement, and service quality enhancement which are offered by the SIAM model.

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How the Commercial Refrigeration Equipment Market in Latin America is Growing?

The reason for growth of the commercial refrigeration equipment market in Latin America is the demand for ready-to-eat food products by consumers and quick-serve restaurants. Due to the fast-paced life and changing lifestyle, people tend to buy more ready-to-eat products, beverages, and frozen food, as these are easy to cook in short time.

Increased demand for ready-to-eat food along with a rise in disposable income has opened many doors for new restaurateurs, and retailers of food products. 

The changing lifestyle is expected to provide opportunities to the market players (refrigeration equipment manufacturers) in countries, such as Brazil, Mexico, and Chile because of increased urbanization and rising per capita income. 

Another opportunity-providing factor is the participation of women in work force. As women move out of their homes, they will not always have time to cook, leading to a rise in the demand for ready-to-eat food. 

As the intensity of competition among the market players is moderate, the growth of existing and new players is expected to be smooth. Many players are actively cashing in by launching innovative products in the market to meet the growing demand. In 2017, there were six companies holding more than 60% of the total revenue share in the market. 

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As the Latin American commercial refrigeration equipment market advances, these market players will get more opportunities for growth.

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Growing Infrastructure Sector Driving the Growth of Saudi Arabian Heating, Ventilation, and Air Conditioning Market

 

The Saudi Arabian heating, ventilation, and air conditioning (HVAC) market is growing on account of the rising infrastructure spending and expanding hospitality sector in the country. 

Along with the infrastructure, the hospitality sector of the nation is also booming, owing to the increasing number of travelers coming here from across the world. The two holiest sites in Islam — Makkah and Medina — are located in Saudi Arabia, which draw loads of people. 

To cater to the increasing tourists and pilgrims, the number of hotels and guestrooms in the nation is also surging, thereby driving the HVAC market in Saudi Arabia. Several multinational hospitality firms are expanding their reach here to provide accommodation to as many people as possible.

Seeing the focus of consumers toward reducing their electricity spending, major Saudi Arabian HVAC market players are launching systems that are more energy-efficient than before or modifying the technology of their existing products.

For instance, Daikin Industries Ltd. unveiled a new air-cooled scroll chiller product line with the R-32 refrigerant in January 2019. Compared to its existing scroll chillers that work on refrigerant R-401A, these have a 10.0% higher seasonal energy efficiency ratio.

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Wearable AI Devices Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast

The demand for AI-enabled voice assistance is gaining popularity, with voice assistance feature being integrated in them to support multiple functions. Such technology allows users to search through the web on the device with a voice command, related to the weather, news, reminders, scheduling appointments, making calls, reading messages, and much more. 

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The wearable AI devices market was valued at $11,182.8 million in 2018, and it is projected to reach $49,240.6 million by 2024, witnessing a CAGR of 29.0% during 2019–2024 (forecast period). The market growth across the globe is primarily driven by the changing lifestyle of people, surging use of fitness bands and healthcare applications, and demand for next-generation smartwatches. Such devices are used by consumers to track their fitness level, via inputs in the form of heat, light, sound, and pressure.

The wearable AI devices market is a promising opportunity for the players to integrate the AI-enabled voice assistant technology in wearable devices. Thus, the market is expected to advance due to the rapid demand for voice assistants in consumer electronics. North America held the largest share in the wearable AI devices market in 2018. 

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It was mainly due to the strong presence of already established market players, such as Facebook Inc. and Apple Inc., in the region. The fastest market growth is to be witnessed in Asia-Pacific (APAC) during the forecast period, driven by the growing demand for AI-integrated wearables, particularly in India and China, which is itself mostly owing to the increasing concerns for health and fitness. 

Thus, it is clear that the market will continue to grow substantially during the forecast period, as the demand for advanced consumer electronics, which performs multiple functions, rises.

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There is a Huge Potential in India Structured Cabling Market in Telecommunication Sector by 2023

On the brighter side, the nationwide demand for Wi-Fi services is on the rise, giving market players lucrative opportunities in the present and immediate future. Category 5 and Category 5e UTP were the cables of choice for over a decade, but a shift is now being seen toward Category 6 and 7, driven by the need for greater data transfer rate and higher bandwidth.

Companies want more bandwidth for video conferencing and digital audio streaming. As these processes are being increasingly utilized in the government, commercial, telecommunications and industrial spaces, the structured cable market in India continues to prosper.

Coming to the recent scenario (2013–2017), copper cables enjoyed the largest share in terms of revenue in the India structured cable market. While copper cables will still be the most widely sold in 2018–2023, the demand for fiber components will see the sharpest surge.

In terms of the type of wire, Category 7 wires gained the most during the historical period, and the same trend will continue through 2018–2023. Now, since Bangalore, the IT hub of India, is in its southern part, this is where the sector generated the highest revenue during the historical period. However, during the forecast period, the market is expected to witness the highest CAGR in the eastern part of the nation.

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Players are gearing up to meet consumer demands and consolidate their position in the domain by launching more products or establishing manufacturing plants across the country. Belden Inc. announced plans in 2017 to set up a manufacturing facility in Pune for ethernet switches, fiber optics and copper cables, and coaxial cables. 

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How is Need for Innovative Healthcare Information System Driving Laboratory Information System Market?

The requirement for advanced healthcare information system is increasing rapidly, which is why the need for laboratory information system (LIS) is rising as well. LIS includes a set of hardware and programs that are part of an integrated system designed for healthcare information. The system captures complex data and information which is related to medical and industrial laboratories. LIS aids in compiling the services related to treatment, care & rehabilitation, and diagnosis. The integrated healthcare system saves diagnosis time by streamlining back office operations and also aids in sharing information and discussing the treatment plan among doctors as per the patient’s need.

The laboratory information system market is expected to witness significant growth during the forecast period. Industrial, clinical, and drug discovery are the three applications of LIS. Among these, the largest demand for laboratory information system was created for clinical applications in the past and the situation is projected to remain the same in the coming years as well. LIS are utilized in healthcare laboratories for clinical purposes including sequencing and molecular testing. Clinical LIS help automate all the major processes and generate accurate results efficiently. The demand for LIS for clinical applications is rising because of growing number of tests and higher cost because of the emergence of new technologies.

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The growth in molecular diagnostics is contributing significantly to the increasing demand for LIS. Molecular diagnostics is a branch of in vitro diagnostics and is based on determining nucleic acid sequencing primarily for medical applications. Sequence determination is largely performed by making use of methods that are based on hybridization of labeled DNA probes with target nucleic acid sequences. The market for molecular diagnostics is changing rapidly for the better and the novel technologies are projected to yield product line extensions and machined for point-of-care market as test automation expands. This is expected to drive the market in the coming years.

The adoption of mobile-based application sand solutions is a key trend in the laboratory information system market. Mobile devices such as tablets and smartphones play a vital role in providing personalized health solutions. Multi-functional personalized mobile information systems offer a wide range of communication and information services to both clinicians and patients through smartphones. The utilization of mobile devices also decreases the need for patients to visit clinics or hospitals every time they require a diagnosis as their problems can be diagnosed by using mobile devices. Due to these factors, new mobile systems that aid in retrieving laboratory data easily have been designed.

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Cyber security Market Regional Revenue, Trends, Opportunities and Future Prospects

The cyber security market is predicted to grow substantially in the coming years due to the strict government regulation for data privacy, surging incidence of cyber-attacks, and increased utilization of mobile devices. Cyber security is a comprehensive system of technologies, practices, and processes which provide security to data, software programs, computers, and IT networks from any kind of unauthorized access, damage, and attack.

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In terms of component, the market is bifurcated into service and solution, between which, solution is expected to account for the major share of the market in the near future.When security type is taken into consideration, the cyber security market is divided into wireless, application, cloud, network, endpoint, and others (which include perimeter security, email security, information security, and web security).

Out of these, the application division held the largest share of the market in the past and is further predicted to dominate the market in the coming years. The reason for this is the rising requirement for protecting enterprise applications and data, increasing deployment of third-party applications, and surging complexity level of cyber-attacks.

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On the basis of industry, the cyber security market is categorized into manufacturing, IT & telecom, retail, healthcare, banking, financial services, & insurance (BFSI), government and public utilities, aerospace & defense, and others (which include hospitality, education, and automotive). Among these, the aerospace & defense category dominated the market in the past and is further predicted to account for the major share of the market in the near future. The BFSI category is projected to advance at the fastest pace in the near future.

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