How did the Outbreak of COVID-19 Impact the Australia and New Zealand Water-Cooled Heat Recovery VRF Systems Market?

 The major drivers in Australia and New Zealand water-cooled heat recovery VRF systems market are heat pumps in commercial applications, coupled with a dire need for effective VRF systems. In 2021, product sales in Australia valued at $14,881.0 thousand and at $2,590.8 thousand. Additionally, revenue growth in Australia will be an 8.8% CAGR, and in New Zealand, at 6.8% CAGR in the coming years respectively. At these rates, market players could make a combined $31,739.6 thousand and $4,677.2 thousand by 2030 in Australia and New Zealand, respectively.

The surging population levels will spur the Australia and New Zealand water-cooled heat recovery VRF systems market growth. Thus, this will pave the way for the real estate industry's expansion. Moreover, this will go hand in hand with the increasing number of construction activities in these two countries. Furthermore, there was a 6.2% and 0.4% escalation in the count of dwellings approved in New Zealand and Australia, respectively, during 2017–2021. Also, these magnificent figures show the enormous growth in the construction and real estate sectors of these two countries.

Australia and New Zealand Water-Cooled Heat Recovery VRF Systems Market Revenue Estimation and Growth Forecast Report

The extensive government support will create lucrative opportunities for the Australia and New Zealand water-cooled heat recovery VRF systems market players assisting them to adapt to the existing dynamics of the circular economy. This is accompanied by a rising inclination toward green buildings. Furthermore, this will result in skyrocketing demand for VRF systems in these countries because it is an all-in-one device: providing complete air conditioning, ventilation, and heating solutions for the building. New Zealand aims for completely carbon-free newly constructed buildings by 2030.

 

The outbreak of COVID-19 had ruptured the entire circular economy, and the Australia and New Zealand water-cooled heat recovery VRF systems market was not an exception. It reduced the manufacturing activities, lowering the water-cooled heat recovery VRF systems requirement. In 2020, there was a 1.4% and 2.2% decline in the manufacturing industries of New Zealand and Australia respectively. Moreover, the pandemic significantly increased the unemployment rates, lowering the disposable income, and consequently reducing the purchasing power of consumers. Resultingly, corporations witnessed huge losses due to declining sales and piling up the inventory. 

 

Furthermore, lockdowns were imposed in several economies to curb the spread of the virus. This led to the temporary shutdown of commercial offices and buildings. Additionally, there was a rising inclination toward the work-from-home culture by numerous corporations, which gradually ruptured the requirement for office spaces. Nonetheless, the Australia and New Zealand water-cooled heat recovery VRF systems market is recovering significantly, increasing the office occupancy rates because of the transmission risk aversion and reducing social restrictions.

 

Within the application segment, the healthcare category will exhibit the swiftest growth in the coming years. This can be credited to the growing geriatric population, rising incidence of chronic illnesses, surging disposable income, and enhancing healthcare infrastructure in these countries. Therefore, the robust growth in the market is due to the development of clinics and hospitals to meet the demands of the skyrocketing population levels. A key aspect of medical care is making patients comfortable, which pushes the requirement for appropriate HVAC systems.

 

Hence, the snowballing demand for VRF systems will drive this market.

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Not so Much Stress Now, with Intelligent Process Automation

Intelligent Process Automation is one feature of a wider shift in technology, that of Mechanization together. From autonomous cars to drones, automation helps make seemingly contemporary technologies obtainable today by creating and leveraging new procedures of intelligence. Whether it is customer communications in the form of desktop assistants or robotic tasks in an enterprise, automation is altering the way we live in our homes and work from an office.

Intelligent Process Automation Market Size & Share Analysis Report, 2030

Browse detailed report - Intelligent Process Automation Market Analysis and Demand Forecast Report

 IPA is the collection of knowhows coming together to manage, automate and integrate digital procedures. The main technologies that structure IPA include DPA, RPA, and AI. While these techniques are powerful in their own right, individual deployment is not enough. By merger of labor-saving solutions like RPA, AI with DPA, you can guarantee that you are taking a tactical approach and mechanizing not only tasks but entire procedures, enterprise-wide.

 There are some of the major benefits of IPA, making it very adaptable for a lot of businesses.

• Rather than just deploying technologies such as RPA and expecting them to complete individual tasks, IPA can help organize work between robots, systems, and people. Robotics is all well, but unless it is integrated with an IPA platform, you will turn out with isolated solutions contrasted with enterprise-wide solutions.

• Employees can be freed from labor-intensive responsibilities by RPA and they can work with added responsibility in the areas, whether much more efficiency is required.  With the combination of DPA AI, you can assure that the correct decision is made since it is planned out in the workflow with AI aiding to make informed decisions all the way.  

• By automating endways procedures, you can decrease the risk of faults like improper data entry. RPA takes care of these automating tasks, but if it deviates from the organizational standards, IPA gives you peace of mind knowing that your procedures are reliably being completed.

• When discrete automation algorithms are deployed, it can be hard to see the enterprise-wide outcome.  With the use of IPA, you can see the whole process, letting you recognize blocks or points at which the journey of the consumers can be smoother.

• IPA allows you to not only hasten endways processing but too makes it easy to make quick changes to procedures and the techniques that support them. This benefits organizations to repeatedly advance their business procedures.

It is because of this that, the IPA market was $10,801.5 million in 2021, which will reach $31,377.0 million by 2030 with a growth rate of almost 13%. This is largely because of the increasing acceptance of robotic process automation and AI in companies, all over the globe.

 The demand for IPA technologies is on the roll because of the increasing acceptance of technologies in the contemporary world.

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APAC Has Highest Demand for Project Portfolio Management Solutions

Due to the attainment of an all-inclusive view into the operations of the project and the management of resources in an efficient manner, the growing intricacy of projects of the company, and the rising requirement for the tools of collaboration and monitoring, the project portfolio management market is expected to reach a value of $8,161.8 million in 2030. The digital revolution has a lot to do with, in a way diminishing the boundaries between Information Technology and the core functionalities of the company.

Project Portfolio Management Market Size & Share Analysis Forecast, 2022-2030

The requirement for PPM solutions is the highest in the healthcare industry, in the project portfolio management market by the end of this decade.  It is because of fast digitization and an increase in the requirement for well-organized management of data and the medical history of patients. There is no need for paperwork and offers data to healthcare industries, letting them have a quick response to emergencies. Furthermore, healthcare administrations will get the assistance of valuable resources on time by merging PPM with an earned value performance measurement system.

BFSI has the maximum demand of PPM solutions in 2021. One of the main features responsible for the growth of the project portfolio management market is the upsurge in complications in banking processes. Financial institutions and services are experiencing numerous alterations like big data management, legacy overhaul, and digital business enablement, which are giving out intricate project portfolios. This has a substantial positive impact on the worldwide acceptance of progressive project operations and resource management solutions.

The cloud-based PPM solutions have started to grow in demand at a rapid pace. This is primarily because of key practical applications of business-like real-time data analytics, remote access and monitoring, and automated scheduling, which could be comprehended by merging cloud PPM systems. Also, advances in cloud and cloud-based applications, along with an increase in contemporary businesses and companies’ operations' dependence on cloud technology, have opened the gates for the project portfolio management market to grow stably in the near future.

APAC has a lot of demand for the PPM solutions, because of being home to some of the most populous countries in the world. This is one of the main reasons why the project portfolio management market is having the highest growth rate of approximately 7% during 2021-2030. This can be chiefly because of the increasing foreign investments in the region that promote financial development, thus preferring the growth of (SMEs).  There is a well-established infrastructure of IT businesses leading to the creation of pioneering project portfolio management solutions.

BYOD is becoming popular among businesses worldwide. It aids in simplifying operations, reduced company expenses, lower costs of operations, and fewer job postponements. By letting users bring their own devices, they can diminish the chances of data loss and malware attacks. When PPM software is used in combination with BYOD, it offers many benefits like increased agility of projects, improved efficiency of workers, and real-time monitoring of staff working in the office.

PPM solutions are high in demand because of the increased complexity of projects, and efficient management of staff.

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Why North America Is Biggest Building Automation System Market?

 In 2021, the size of the building automation system market was $77.1 billion, and it will reach $207.5 billion by 2030, propelling at a growth rate of about 12% during 2021–2030. The increasing need for energy-efficient infra, lower cost of operations and upkeep, improved quality of indoor air, and managed home automation services and the progressions in sensors, communication technologies, touchscreen displays, and analytics take the market forward.

Commercial users have the largest share, at about 40%, in the building automation system market. As per a government association, approximately 30% of the energy used in commercial buildings is wasted, and it can be saved using BAS, as these systems can regulate cooling and heating, lighting, appliances, and other electrical appliances for the maximization of energy efficiency and productivity of workers. Hence, supermarkets, shopping malls, restaurants, warehouses, office buildings, colleges, schools, libraries, museums, nursing homes, and hospitals are accepting these solutions to reduce the costs related to building management.

Building Automation System Market Size and Share Analysis  and Growth Forecast, 2030

Wireless systems will experience a higher sales growth rate, of about 14%, in the coming years, as they are easy to fit and use and offer greater operational and control freedom than wired ones. Wired technology dominates the building automation system market since wired systems perform specific tasks, which is why their performance is usually better than wireless systems. Additionally, system latency is significantly abridged, thereby enabling seamless operation of numerous circuits, chiefly when controlling numerous devices or circuits.

Browse detailed report - Building Automation System Market Analysis and Demand Forecast Report

North America dominated the building automation system market, with an estimated share of over 30%, in the year 2021. This is chiefly because of the technical developments and strict policies pertaining to energy efficiency and the quick acceptance of building automation. Furthermore, the increasing outlay for facility management in public buildings is encouraging the implementation of these solutions. Credited to the same factors, as well as regional countries’ efforts to meet the Paris goals, Europe is another significant user of these solutions

The growth of the APAC region will be the fastest in the building automation system market in the years to come. The increasing concerns for security and the rising requirement for integrated security systems are the main reasons driving the industry in the region. As the count of smart building solution providers has substantially increased and smart building know-how has become inexpensive, the cost of operations of a smart building project has seen a recurrent decline recently.

The rising demand for facility management in the tourism, hospitality, and construction industries is increasing the requirement for building automation systems in the world. Economic growth, driven by urbanization, is one of the key factors for the market growth, as the development of infrastructure in cities will make these services important. Moreover, the expansion of SEZs and mega food parks are expected to help the industry grow in the coming years.

Because of the growing demand for security and access control systems, there is a demand for building automation systems.

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Surging Demand for 5G Network Propels Satellite Launch Vehicle Market

 In 2021, the satellite launch vehicle market size stood at $6,202.0 million, and it is expected to acquire $8,517.9 million in revenue by 2030, growing with a rate of 3.6% from 2021 to 2030. This is attributed to the rising number of satellites launches for various purposes such as weather forecasting, communication, military, and earth observation purposes. The rising trend of reusable launch vehicles, attributed to cost-cutting, reliability, and instant access to space leads to a market boost. 

AI and machine learning are highly utilized in developing SLVs, attributed to the increased efficiency of mission with reduced downtime and paced up physical detection and diagnosis. In addition to this, artificial intelligence helps in easing the test and assembling of the vehicles attributed to the decline in cost and time saving and optimizing the manufacturing process. Moreover, AI facilitates assistance to communication and navigation systems of satellite launch vehicles and thus helps astronomers. 

Satellite Launch Vehicle Market Size & Share Analysis Forecast, 2030

Low-earth-orbit satellites gave captured an undisputed satellite launch vehicle market share, of 90%, attributed to faster communications with improved data processing in the network with easy installation. Additionally, the huge investments made by private and government organizations to deploy satellites in low earth orbit also expands the market. For example, Starlink named satellite internet constellation developed by SETC is LEO, there are around 3700 satellites revolving in the LEO. 

The commercial launch activity category’s satellite launch vehicle market share is around 80%, which is attributed to the increasing number of commercial satellite launches. The rising commercial activities, which include satellite navigation, commercial satellite imagery, and satellite television, combined with the reduced cost for launches and decrease in the investments on hardware space, lead to the expansion of the market. 

The growing 5G satellite communication market, which amounted to $2,548.2-million revenue in 2021 and is expected to acquire $33,896.7 million by 2030, is the key contributor to the satellite launch vehicle market boom. This is ascribed to the surging demand for high-speed connectivity with low latency networking. Moreover, 5G fuels the governments’ initiatives worldwide for the development of smart cities, it also provides socio-economic benefits by pacing up the digital economy, resulting in market proliferation. 

Communication applications contributed extensive satellite launch vehicle market revenue, of more than $4 billion. It is attributed to the surging requirement for 5G satellite connections in various sectors such as automobiles, shipping, and civilian aircraft. In attrition, the internet penetration with increased volume of data usage, supported by low latency transmission drives the market. Satellite launches are extensively utilized in defense communication technology, the major countries to make a huge investment to advance defense communication are China, South Korea, and India

North America dominates the market with a 55% share, it is ascribed to the rising commercial launch activity and the strong presence of key players in the market. Moreover, the advanced technologies in the region and increasing availability of certified technicians fuel the market expansion. Moreover, APAC is expected to witness the fastest growth in the coming future in the market, and it is ascribed to the surging satellite launches for space exploration and communication purposes in the region. 

Therefore, the rising internet penetration facilitated by the high-speed 5G network and increased satellite launches in the lower earth orbit.

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How Will $26.6-Billion Grand Mosque Expansion Propel Saudi Arabia HVAC Market?

 In 2021, $2,390.4 million was produced by the Saudi Arabia HVAC market, which is set to touch $4,821.8 million by 2030, advancing at a CAGR of 8.1% from 2021 to 2030. The market is primarily driven by rising infrastructure investment, the desire to reduce food waste, and the developing hospitality sector. Ground-source HVAC systems are becoming more and more popular, which might lead to new opportunities in the nation. By utilizing the energy contained in the ground to heat and cool homes, these systems conserve natural resources like coal and gasoline that would otherwise be used to generate electricity at power plants.

Saudi Arabia HVAC Market Research Revenue Estimation Report, 2022-2030

The demand for smart VRF systems is a noticeable trend in the Saudi Arabia HVAC market. To reduce energy use and improve sustainability, many customers are relying on intelligent and energy-efficient technologies. These systems include smart thermostats, enhanced monitoring systems, and better controls. Additionally, they offer more consistent temperatures and cleaner air than conventional systems. Users can utilize a smartphone app to track the functioning of these systems. Additionally, they produce less noise as compared to conventional systems.

Read Full Report: Saudi Arabia HVAC Market Revenue Estimation and Growth Forecast Report

The commercial sector had the biggest share in 2021, of more than 40%. To reduce its dependency on the oil trade, the Saudi government is generously supporting the hospitality and corporate sectors. The commercial sector's need for these products and services is rising as a result of the rise in hotels, travel destinations, and office buildings. Government and business sector investments in infrastructure also support the Saudi Arabia HVAC market.

For instance, there are now ongoing projects like the $26.6-billion Grand Mosque expansion in Mecca and the $16.5-billion Haramein rail line between Mecca and Medina. By 2025, 25 million people are expected to travel to the holy sites annually, owing to these upgrades, which are meant to increase religious tourism in the nation. As a result, increased commercial infrastructure development is anticipated to be a key factor in commercial market expansion.

The western region, which held a Saudi Arabia HVAC market share of over 40% in 2021, will advance rapidly in the coming years due to the massive magnitude of infrastructure development. Several of Saudi Arabia's most significant cities, such as Jeddah, Madinah, and Mecca, are located in the western part of the country. The completion of megaprojects like NEOM City and Amaala would increase demand for such systems and related services in the area. A large portion of this development is being carried out by Saudi Vision 2030, the government's objective to diversify the economy of the nation and lessen its reliance on the oil and gas sector.

Product launches are the primary strategic technique used by companies to differentiate themselves from market competitors. A list of some players in Saudi Arabia HVAC market is Daikin Industries Ltd., Zamil Air Conditioners, Johnson Controls International plc, S.K.M. Air Conditioning LLC, Gree Electric Appliances Inc. of Zhuhai, LG Electronics Inc., Midea Group Co. Ltd., Carrier Global Corporation, Danfoss A/S, and Trane Technologies plc.

Hence, the rising requirement to lessen food wastage and growing infrastructure spending coupled with the developing hospitality sector are factors propelling demand for HVAC in Saudi Arabia.

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Content Services Platforms Market Booming due to Cloud Adoption in BFSI Sector

In 2021, the content services platforms market was valued at $39.8 billion, and it is projected to acquire a size of $155.8 billion by 2030, growing at a rate of 16.4% from 2021 to 2030. The increase in the implementation of SMAC technologies and the mass creation of digital content across enterprises facilitate market growth, as do the growing trend of mobile workforces, increasing research and development expenditures, and technological advancements.

The content services platforms industry is dominated by case management, workflow management, information security and governance, content reporting and analytics. The demand for training & consulting, deployment & integration, support and maintenance is also expected to rise, resulting in a surge in the market. The pandemic resulted in a 30% increase in the market in 2020 due to mass shifting in digital operations and increased work-from-home trends due to restricted movements.

Content Services Platforms Market Outlook by P&S Intelligence 

The cloud-based platform category has captured the largest share, of 55%, in the content services platforms market. It is attributed to the increasing demand for procurement, deployment, operations, and access to new technologies among different end users, which has further resulted in native SaaS and PaaS vendors' market growth. Moreover, traditional companies have also gradually started shifting to SaaS and PaaS solutions, resulting in market expansion. Cloud-based solutions reduce the need for storage on on-premises storage, reduce IT investments, and offer higher scalability.

North America generate the highest revenue, amounting to 30% of the content services platforms market value. The U.S. contributed massively to the North American market, accounting for an 85% share in 2021. The region's key vendors of content services platforms essentially invest in the research and development of new technologies. Moreover, the Chinese market generated 30% of the revenue in the market of APAC in 2021, attributed to a surge in internet traffic, low data prices, and high-speed connectivity in the region.

Artificial intelligence in content services platforms has gained tremendous popularity, primarily for productivity intelligence, security intelligence and content intelligence applications. Market players are making efforts to cater to the rising demand for AI. Moreover, the growing trend of digitization leads to the expansion of the e-commerce sector, facilitating the rise in the demand for single-source and cross-platform content services platforms. Similarly, numerous organizations utilize big data analytics for business intelligence, as content services platforms facilitate extensive data integration.

Thus, the growing trend of digitization, facilitated by high-speed internet connectivity, ls leading to the boom of the market.

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