Why Differential Variants Hold Half Pressure Transmitter Market Share?

 The pressure transmitter market was worth around $2,904.0 million in 2021, which is predicted to hit $4,168.7 million by 2030, advancing at a 4.1% CAGR between 2021 and 2030. The main factor driving the growth of the market is the rising need for wireless pressure transmitters. By reducing wiring runs, such devices usually provide lower installation costs and simpler installation in remote areas. Another important aspect influencing the market is the increase in industrial automation adoption due to its enhanced product quality, lower operating costs, and maintenance of health and safety.

Pressure Transmitter Industry Revenue Estimation and Demand Forecast, 2030

The liquid category is the biggest revenue producer in the pressure transmitter market, based on fluid type, and it will grow at a rate of 4.1% in the coming years. In non-hydrocarbon liquids, a submersible pressure transmitter is used for fluid pressure and level measurement, including in the water & wastewater treatment domain. Moreover, differential and measured pressure transmitters are widely used to gauge groundwater pump levels, as well as the hydrostatic liquid levels in tanks.

The level measurement category holds nearly 54.0% share of the global pressure transmitter market, when segmenting by application. Additionally, the category is expected to grow at a CAGR of 4.4% in the years to come. In the chemical, water & wastewater treatment, and petrochemical industries, pressure transmitters are widely used to examine the level in fuel tanks. Moreover, they help reduce purchase and maintenance expenses, offer ease of usage, and are compact in nature, therefore are suitable for applications of level measurement.

Get More Insights: Pressure Transmitter Market Revenue Estimation and Growth Forecast Report

In 2021, the water & wastewater treatment category produced $243.8 million in the industry segment of the pressure transmitter market, and it is on the path to generating $371.4 million during the forecast period. Around the world, pressure transmitters are used in sewage systems, filtration facilities, chemical feeds, pumping stations, storage facilities, mixing vessels, and wet wells in the water & wastewater treatment industry. Such devices are used at various stages of the wastewater treatment process, such as tertiary, biological, primary, and secondary treatment.

Differential pressure transmitters hold around 51.5% revenue share in the market, on the basis of type. They are ideal in the oil & gas sector for level, pressure, and flow measurement, for process control and monitoring. Moreover, they are also utilized for measuring fluid flow, fluid level, and fluid density. Other applications include flow measurement and level detection in the aforementioned sectors, utilizing venturi tubes, orifice plates, low-loss flow tubes, pitot tubes, and flow nozzles.

Players have commenced a variety of strategic developments to remain competitive in the market. For example, Huba Control introduced the 555-pressure transmitter, which is suitable for high temperatures and designed for alternative-drive systems, in June 2021. Type 555’s compact design and ruggedness enable vibration and shock stability and also allow for long-term durability. Other key players in the pressure transmitter market are Emerson Electric Co., Yokogawa India Ltd., Schneider Electric, Hitachi High-Tech Corporation, Fuji Electric Global, Danfoss, Honeywell International Inc., Siemens, and ABB Ltd.

Hence, the potential of the market to grow in the coming years are high due to the rising demand for potable water, booming chemical exports, and advancing oil & gas industry.

Read More

Why Will North America Rule the 5G Satellite Communication Market?

 The major 5G satellite communication market growth drivers are the increasing requirement for high-speed and low-latency connectivity and the swift adoption of technologically advanced devices. In 2021, the sale of such solutions generated $2,548.2 million, and this value is predicted to reach $33,896.7 million by 2030. In addition, the market will advance at a 33.3% CAGR from 2021 to 2030. A pivotal role is played by 5G networks in supporting policymakers and governments in transforming cities into smart cities. Moreover, this assists the citizens to reap the socio-economic benefits offered by an advanced economy.

Access Report Summary - 5G Satellite Communication Market Segmentation Analysis Report

Within the solution type, the backhaul and tower feed solutions category dominated the 5G satellite communication market, and it will continue to show this dominance throughout the decade. This can be primarily ascribed to their inherent abilities to cast videos to cater to the enormous coverage area and exhibit ultra-high and high design content. Moreover, there will be a higher inclination of consumers toward the fast 5G connectivity with low latency, coupled with the escalating count of 5G gadgets. This will go hand in hand with the skyrocketing demand for this category at a significant pace.

5G Satellite Communication Industry Revenue Estimation and Demand Forecast, 2030

Because of the shifting and rising nature of geopolitical conflicts and wars, the adoption of non-terrestrial technologies has become increasingly prominent for defense sectors. The defense agencies are assisted by the advanced 5G satellite communication technology to enhance their strategic and decision-making skills. Additionally, IoT solutions are now increasingly being used in the defense sector because of gradual technological changes in the market. Therefore, there is a vast potential in the market on account of the swift technological advances.

 

5G satellite communication technologies have the potential to bring economic internet connection to previously disconnected and rural parts of the world and will spur the 5G satellite communication market growth. The defense, government, and commercial businesses, as well as people, are ready to adopt technologies that can aid in connecting and interacting with remote regions of the world where terrestrial networks do not exist, using the current generation of networks and satellite technology. All of this will propel growth in the market. 

 

In 2021, the commercial sector held the biggest 5G satellite communication market share, accounting for about half of the total market share. This can be attributed to the rising application of satellite and 5G connections in countless commercial sectors, including commercial aircraft, automobiles, and the entire logistical network. Nonetheless, the government will also not lag and witness the highest CAGR in the coming years. This is because of the attempts made to facilitate effective supervision of the government assets and the swift communication requirements.

 

Geographically, North America rules the 5G satellite communication market, and its revenue contribution to the market players is predicted to touch $12.0 billion by 2030, exhibiting the fastest CAGR in the coming years. This can be buoyed by the existence of a huge count of market players, including Qualcomm Incorporated, Thales Group, and Inmarsat Global Limited, who continue to work with the present scenario in the industry and adapt to changes in customers’ preferences, coming up with technologically advanced communication devices and software.

 

Hence, increasing the requirement for high-speed and low-latency connectivity will drive the market to provide extravagant opportunities to corporations.

Read More

Can applying AI to genomics improve healthcare?

Biology's interdisciplinary field of genomics focuses on understanding the composition, mapping, organization, and altering of genomes. A genome is an organism's whole set of DNA, which contains every gene. In addition, there are numerous R&D initiatives, businesses in the sector, and growing genomics research data sets.

Functional Genomics - in this field, scientists try to explain how genes interact and carry out their roles. Making promoters and enhancers, identifying subcellular localization, and classifying functional activity mutations are all possible uses for machine learning.

Structural Genomics – Here, scientists investigate the characterization of genomic structures. Protein tertiary structure may be categorized by machine learning, and linkages between protein secondary structures can also be made.

Regulatory Genomics – is the study of genetic traits and expression-control mechanisms. For instance, applications of machine learning in this field include categorizing gene expression predictions, creating transcription aspects and RNA-binding proteins, or utilizing ML techniques to predict promoters and modifiers for gene expression.

Role of AI in Genomics

One of the most cutting-edge areas of genomics is AI, which simplifies data processing and deep learning to speed up research. AI systems may progressively learn about topics and create algorithms using deep learning and neural networks after being trained by analyzing volumes of human-reviewed data.

In contrast to human input, this enables AI to process a higher volume of data, improving its capacity to decipher trends and predict events. Some instances where the pattern recognition capabilities of a trained AI network may be used demonstrate the power of AI-driven genomics. To help with the diagnosis of cancer and genetic disorder diagnosis, genomic analysis systems and computer vision algorithms have been combined.

Therefore, the global ai in the genomics market will hit a $19,596.2 million value by 2030, growing at a significant CAGR from 2022 to 2030. There are several subgroups of genomics: functional genomics, structural genomics, and regulatory genomics.

Browse detailed report on AI in Genomics Market Business Strategies

Read More

Demand for Teleradiology Is Influenced by Lack of Radiologists in Several Nations

 In teleradiology, medical image processing is done by radiologists who are not physically present at the site where the images are created. Teleradiology is used by mobile imaging companies, urgent care centers, hospitals, and even some private clinics. The fundamental reason for using teleradiology is that having a radiologist on-site is expensive. Medical experts who would normally be unable to communicate with one another owing to good physical distances can work with one another because of teleradiology.

As per the Association of American Medical Colleges, by 2032, there will be around 122,000 physician shortfalls in the U. S. Teleradiology services that are growing in popularity as a result. Therefore, the teleradiology market is on the path to reaching $25,631.2 million by 2030. This is owing to the increasing count of advanced imaging procedures, rising need for nighthawk & specialty modalities, and lack of skilled radiologists.

How CT Scan Will Be in High Demand in Coming Years?

When someone may have inside wounds from car accidents or other forms of trauma, a CT scan may swiftly evaluate them and offer more thorough information. Nearly every portion of the body may be seen on a CT scan to detect disease or damage and to plan surgical or radiation treatments.

Moreover, since nearly every hospitalized COVID patient requires a CT scan, the epidemic has increased the need for them. The technique produces cross-sectional photographs of the body using computers and spinning X-ray equipment, and it is used to track the disease's progress.

Widespread Application of Teleradiology Is in Cardiology

With a revenue share of over 20%, cardiology applications lead the worldwide teleradiology market, partly as a result of the rapidly rising prevalence of CVDs. According to the WHO, 17.9 million people around the world die from CVDs each year, accounting for 32% of all death toll; strokes and heart attacks account for 85% of all CVD deaths. Additionally, as per the Centers for Disease Control and Prevention, 1 in 4 fatalities in the U.S. are caused by heart disease and around 659,000 individuals die from CVDs each year.

Hence, the growing count of advanced imaging methods and the scarcity of trained radiologists will boost the demand for teleradiology.

 

 

Read More

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.

Read More

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.

Read More

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.

Read More