How Does Increase in the Requirement to Reduce Dependency on Fossil Fuels Impact Phase Change Materials Market?

In 2021, the phase change materials market amassed revenue of $1,775.5 million, and it is set to progress at a rate of 16.8% from 2021 to 2030, to reach $7,206.2 million by 2030. This is owed to the expansion of construction and packaging industries with a rising focus on green buildings. Moreover, 50% of the world’s energy demand is driven by heating usage and more than 60% of that demand is dispersed as waste heat. It results in global climate change, with increased chances for improvements by saving waste heat for further use. The increased requirement to reduce the dependency on fossil fuels in order to conserve energy and minimize GHG emissions has resulted in the development of phase change materials.

The rise in the construction of green buildings in China has led to a surge in demand for PCMs. The construction industry of the country has experienced bolstered growth in recent years surpassing the 5-billion-m2 completed floor area of buildings annually. In addition, it has emerged as the largest contributor to the GDP of China, outgrowing other industrial sectors.

The building and construction category holds the most-significant phase change materials market share, of 35%, and it is expected to advance at a rate of 16% in the coming years. Due to the rise in the demand for low heating and cooling loads for residential buildings, the building envelope technologies have shown steady improvements. The large energy savings are experienced by the increased adoption of innovative building materials with active thermal components. 

In addition, Europe holds the greatest share of the phase change materials market, accounting for 40%, attributed to the inclination toward eco-friendly products, resulting in the proliferation of the PCM industry. Moreover, there are various initiatives taken by the European regulatory associations, to encourage the efficient building of mechanical solutions and increase the awareness of PCM applications that have caused a market boost. 

Therefore, the surge in green buildings and increased awareness of the environment resulting in reduced GHG emissions propel the market.

Read More

Silicone Elastomers Market to Reach a Value of Around $16,425 Million by 2030

The size of the silicone elastomers market at a projected $8,3445 million in 2021, which will advance at a growth rate of almost 8% in the near future, to reach about $16,425 million by 2030. The industry is driven by the high requirement for silicone elastomers in the electrical & electronics sector, their better properties, and an elderly population, which is powering product requirements in the healthcare sector.

In 2021, construction had the largest share, at 42%, and it will maintain this position in the years to come. Silicone elastomers play an indispensable role in a diversity of building materials and equipment, like assembled building elements. Since the emphasis on enhanced construction eminence is rising, the competition is increasing in a more and more price-sensitive market. Concurrently, building companies must keep to the ever-stricter construction quality guidelines.

The silicone elastomers market is likewise driven by the high demand for these materials from the electronics and electrical industry. A diversity of grades is offered to offer flame retardation, heat resistance, low volatility for delicate components, protection from moisture, as well as adhesion to the variability of surfaces.

The Europe silicone elastomers market region held the largest share at around 35%, in 2021. The trend of plummeting the weight of the vehicles mainly driving the market. Silicone elastomers have the capability to supplement metals and other materials in vehicles, thus lowering their weight and improving fuel efficacy, and, eventually, lowering the emission of numerous pollutants, primarily CO2. Silicones retain their properties and, more importantly, guarantee that vehicles, aircraft, ships, and trains run efficiently and safely for long.

The increasing demand for elastomers is increasing in different industries, and other than that, there are various technological advancements as well.

Read More

Why Will North America Dominate SOC as a Service Market?

 The major factor driving the global SOC as a service market is the rising count of cyberattacks and security threats. In 2021, the market stood at $4.4 billion, which is predicted to reach $11.8 billion by the end of this decade. In addition, the market will witness an 11.6% CAGR from 2021 to 2030. Furthermore, at least a 50% annual hike is observed in cyberattacks all around the world. Moreover, the market growth is owing to the work-from-home and BYOD trends, which is why the outbreak of COVID-19 had resulted in an increasing inclination toward SOCaaS solutions.

Within the type segment, the detection service category generated the highest revenue in 2021, accounting for an about 37% market share, and it will continue to show this trend during this decade. This can be attributed to the surging integration of digital technologies in all industries. Moreover, because people are sharing massive amounts of data and depending increasingly on digital information than ever before, the incidence of targeted attacks is increasing globally. To deal with this situation, the requirement for fraud detection solutions among several corporations is on the surge. 

SOC as a Service Market Size & Share Analysis Forecast, 2030

The SOC as a service market can be bifurcated into SMEs and large enterprises. The latter category comprises multinational enterprises, which are continuously developing and implementing the latest technologies to deal with all types of cyberattack, by detecting, preventing, and responding to it. Furthermore, there is a rising adoption of SOCaaS solutions by MNCs to enhance the security of financial resources, because they have numerous revenue streams and intricate corporate networks. Therefore, this category dominates the enterprise size segment of the industry.

In 2021, the BFSI sector ruled the SOC as a service market with at least 45% revenue, on account of being prone to cyberattacks because all it deals with is money, shares, and financial bonds. Furthermore, the BFSI is the target of at least 70% of the cyberattacks very year. Moreover, the count of breached bank accounts will surge to over 30 billion by 2030. Moreover, BFSI corporations are the most attractive of all kinds of companies for cybercriminals, losing about $6 million for every data breach on average.

The healthcare category, in the vertical segment of the SOC as a service market, is predicted to potentially grow in the coming years. This can be ascribed to the data records of healthcare organizations, which encompass every patient’s PII PCI data for billing purposes. Hence, there is a dire need to execute the security operation center as a service in this sector. Furthermore, unencrypted PII PCI data is transferred within laboratories, clinics, and hospitals, putting people’s lives in danger.

In 2021, North America dominated the SOC as a service market, generating approximately 40% of the global revenue, because it is home to the highest count of security operation centers as a service vendors on this planet. This is because of the unending number of cyberattacks and data breaches in this region. Moreover, the skyrocketing demand for cloud-based platforms, technologies, and apps will create a demand for stronger security solutions, because the data of corporations and customers, including information related on payments, is on these platforms and apps.

Hence, the rising concerns about data security among individuals and corporations will pave the way for market growth.

Read More

Why Will Europe Dominate the Underfloor Heating Market?

The global underfloor heating market is driven by an increasing count of construction projects and surging awareness about economic heating solutions. In 2021, the market stood at $4,319.3 million, and it is predicted to touch $7,945.4 million by 2030. The market is expected to witness a 7.0% CAGR from 2021 to 2030, thereby generating extravagant opportunities for the market players in the future. Moreover, the U.K. market will grow at the swiftest CAGR in the coming years in Europe.

Geographically, Europe will rule the underfloor heating market, by advancing at a 7.0% CAGR in the coming years owing to extensive government support in an attempt to meet the environmental sustainability standards through an efficient energy system. The European government had lowered the carbon emissions significantly by imposing stringent rules and regulations. This will pave the way for a carbon-free environment by 2050. Furthermore, the dire need for the energy performance of buildings is being complemented by the New Building Energy Act of Germany.

Based on offering, the hydronic underfloor heating system bifurcation is the larger. This can be credited to its reduced operational costs and the ability to generate more heat than the conventional electric system. Therefore, the bigger revenue share is held by this category, and it will show this trend in the forecast period as well by advancing at a 7.2% CAGR. The prominent European and North American countries have contributed extensively to the boom in the market due to a paradigm shift in the living standards of people with a rising disposable income.

The new installations category in the underfloor heating market will advance at a higher rate owing to surging awareness about lowering carbon emissions. For instance, the EE regulatory framework outlines actions and encompasses policies evolved by the EU to minimize greenhouse gases by more than 55% by 2030. Furthermore, underfloor heating systems are being used in residential and commercial infrastructure projects, including smart city projects, to achieve these goals. In addition, the retrofit installations will also not lag as they are very comfortable, apart from being an economic option.

The residential category will boom the underfloor heating market and account for about $4.0 billion of the total revenue by the end of this decade. This can be ascribed to its increasing deployment in residential sectors because of its ideal benefits. Thus, the installation of these systems goes hand in hand with rising house construction activities in well-developed nations, such as Canada and the U.S. nonetheless, the commercial category will also expand on account of effective floor heating in retail enterprises and workplaces.

Therefore, the rising number of residential and commercial projects will exert a push on the revenue being generated in the market by offering lucrative opportunities to industry participants.

Read More

Usage of Radiation Hardened Electronics in Space

 Electronic devices, single-board computer CPUs, and sensors that have been radiation-hardened and developed to be less prone to harm from radiation exposure and extremely high temperatures are known as rad-hard electronics. Radiation is undoubtedly a key design consideration for radiation-hardened electronics, but it is not the sole material for which radiation tolerance/survivability and radiation hardening testing are crucial.

Ordinary concrete is particularly vulnerable to neutron activation and radiation harm, and excessive radiation exposure can change the physical characteristics of concrete, rendering a concrete bunker structurally unsafe. Because of this risk, nuclear reactor facilities that won't be as vulnerable to high radiation levels must be designed and built using specialized radiation-tolerant concrete.

Radiation Hardened Electronics Market Size & Share Analysis Forecast, 2030

The market is being driven by the high demand for radiation-hardened components for airplanes, medical equipment, and nuclear power plants. This is why, the radiation-hardened electronics market is predicted to touch $2,104.2 million by 2030, progressing at a 3.5% CAGR from 2021 to 2030. Due to government efforts and investments made by entrepreneurs working in this domain internationally, the space industry is growing.

Get More Insights: Radiation Hardened Electronics Market Revenue Estimation and Growth Forecast Report

Reconfigurable radiation-hardened devices are in higher demand, which presents market opportunities for the participants. These tools enable satellite users to alter the scope of their operations while in orbit, significantly lowering the cost of reconfiguration. Top companies in the sector are involved in the creation of new software. electronics with specified radiation protection.

The demand for radiation-hardened electronics is mostly driven by the necessity of radiation-hardened electronics for space applications, and it will grow at the fastest pace in the coming years. This is mostly due to the growth in international ISR activities, which is pressuring companies to provide more durable and dependable electrical components for spacecraft. Additionally, the need for radiation-hardened electronics is being driven by the swelling data volume that is crowding the satellite spectrum due to the expanding worldwide internet user population.

The aerospace and defense industries are largely in need of radiation hardening and survival testing. Infrastructure and defense systems that must continue to operate in the wake of a nuclear explosion depend on radiation-hardened electronics because they must be tolerant of the high radiation levels caused by the explosion.

Additionally, such radiation-hardened electronics and systems must be free to operate in the case of secondary radiation impacts, including an electromagnetic pulse, which is a strong dosage of electromagnetic radiation. We need radiation-hardened electronics to be utilized in the design for that functionality to be sustained through an incident where such systems are exposed to high amounts of radiation.

The tremendous volumes of radiation that solar flares emit are one of the biggest risks to our aerospace and military satellite systems in orbit. Solar flares with sufficient energy can even damage electronics on Earth's surface, resulting in outages and system failures.

Due to the absence of an atmosphere to shield them, spacecraft like satellites, space stations, and shuttles are particularly susceptible to solar flares. Radiation hardening measures are essential for shielding human passengers from the effects of electromagnetic exposure to radiation as well as preventing damage to the electrical systems of spacecraft from space radiation.

Read More

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