Network Attached Storage Market To Reach USD 63,151 Million by 2030

As per a statement by P&S Intelligence, the total revenue of the global network attached storage market was USD 22,850 million in 2022, and it will grow at a rate of 13.55% in the years to come, to touch USD 63,151 million by 2030.

The on-premises category will have the largest share. This mode of deployment lets companies store all the important data on their servers, ensuring improved information security and also providing the leverage of scaling the stowage for any dynamic need.

Network Attached Storage Market Size and Share Analysis Report

Moreover, the hybrid category will grow the fastest due to the fact that, companies are moving increasingly toward a mix of off-site, on-site and cloud backup solutions, without increasing the complexity of management.

Owing to the rapid progress in the rate of digitalization and progressions in all sorts of IT products, midmarket category will hold the largest share. These solutions are usually put to use by SMEs; hence, their growth has an impact on the advance of the industry.

A few small companies are also making use of these NAS storage as a media server, for storing their media and streaming music, videos and photos directly from their device used for storage, externally or internally, with the help of the internet. These devices are extensively in use amongst SMEs as they are simply scalable manageable, and lucrative.

The requirement for low-end products will also increase significantly in India and Brazil, because of the budding tech industry. In contrast, high-end category will grow steadily in in Canada and the U.S.

Scaleup NAS division dominated the network attached storage market in the past. The acceptance of scaleup solutions is increasing at homes, hotels, educational institutions, shopping malls, mid-sized offices, and retail stores, where the data produced is not that critical and vast and you just need to store it. 

These storages are made up of a pair of controllers and numerous shelves of storage drives.

The scaleup solution is a conventional system with limited memory and storage. If more memory is needed, extra shelves of drives can be supplemented to the system. The solution has the advantage of lower prices compared to scale-out solutions.

North America had the largest share of approximately 40% in the past. The acceptance of cloud-based data centers, substantial investments in R&D, and surge in the usage of the IoT technology in smart devices in Canada  and the U.S. play a vital role in the regional growth.

It is because of the increasing volume of unstructured data around the world, the demand for network attached storage is all set to increase in the years to come.

Read More

European Energy Management System Market Will Reach USD 30,257 Million By 2030

The global European energy management system market was valued at 11,222 million in 2022, and this number is projected to reach USD 30,257 million by 2030, advancing at a CAGR of 13.20% during 2022–2030, according to P&S Intelligence.

Europe Energy Management System Market

The major factors driving the market are strict government rules and guidelines, electricity cost volatility, and the increasing acceptance of EMS in building automation. Furthermore, rapid industrialization, increasing economic development, and snowballing government steps toward electricity consumption are some other reasons boosting market growth. 

In 2022, the service category held the largest revenue share in the European energy management system market. This can be credited to the rising needs of end users to decrease their operational prices by utilizing numerous services, such as consulting & training, maintenance, monitoring and control, and others.

Furthermore, the leaning of building landlords toward full control of an EMS, with increasing awareness and knowledge, and the capability to screen the snowballing demand for power in given buildings, are some of the other reasons contributing to the market growth in this category. 

In 2022, the German industry had the largest revenue share, of 27% in the Europe region, and is projected to continue to the dominance in the future as well. This is because of the government initiatives that motivate power conservation, coupled with the increasing alertness regarding climatic changes.

In the coming few years, the software category is projected to witness the highest CAGR, of approximately, 14%. This is mainly due to businesses progressively purchasing software for management to decrease power prices, as software for EMS mechanically contributes to lowering energy consumption, refining the usage and process of the system, along with forecasting and analyzing system performance. Additionally, in Europe, the residential industry has the maximum development opportunity for choosing smart energy devices, mainly in-house display devices.

In 2022, the carbon and energy management category had the largest market share, on the basis of the solution. This can be credited to the government's impact full steps and guidelines throughout the region, to screen power consumption, advance power effectiveness, reduce CO2 emissions, and save energy prices.

in 2022, the power and energy category had a considerable revenue share, of 18%, in the European market. This is credited to its rich production and sale of electricity for numerous applications, including manufacturing and mining. 

Hence, strict government rules and guidelines, electricity cost volatility, and the increasing acceptance of EMS in building automation, and also the rapid industrialization, and increasing economic development, are major factors driving the European energy management system market.

Read More

IPTV Market is Growing Fastest in the APAC

It is stated by P&S Intelligence, the total size of IPTV market was USD 30,134 million in 2022, and it will reach USD 107,271 million by 2030, advancing at a growth rate of 17.20% in the years to come.

The wireless category will grow faster, with a higher growth rate of about 19% in the years to come. Furthermore, wireless IPTV offers extended access to Internet Protocol Television and related services to the user. The user might consume the services on any device anytime.

Internet Protocol Television Market Size and Share Analysis Report

This needs a wireless network technology  for supporting networks, services, and AV content for meeting the demand of the consumers, regardless of user location. Also, the wireless transmission lets for flexible bandwidth and high- speed content transmission.

The residential category had the larger share, accounting for over 52% share, in 2022. This is because of the fact that users watch shows of their interest at home.

Though, with the increasing interest of corporates for communicating with their employees, improving training, meeting compliance requirements, and reducing travel costs, the industry will witness the faster growth in the enterprise category in the years to come.

Also, corporate entities across numerous industries, including hospitality, energy, finance, education, media, healthcare, and transport, are progressively using IPTV services for building additional revenue streams, including targeted advertising.

The smart TVs category will grow the fastest with a share of 18.8%, in the years to come. This is because of the usage of these TVs in households, because these devices offer smart features furthermore to internet connectivity for enhancing the TV-watching experience. 

Recently, smart TVs are appealing to consumers because of their increased affordability, advanced performance, and improved streaming experiences.

APAC IPTV market will grow the fastest in the years to come. This can be majorly credited to the increasing subscriber count, growing usage of technically cutting-edge devices for consumption of content, and snowballing shift from conventional TV-watching to on-demand or online show-viewing.

Though the regional industry has low average revenue per user, as compared to other regions, nations for example China and India are contributing substantial revenue to the business. Also, the nations are offering significant growth prospects to the key players.

With main IPTV providers, for example China Telecom and Bharti Airtel, getting support from the government, the prospects for the industry growth in the Asia Pacific look bright. Furthermore, regional providers are emphasizing more and more on increasing the broadband usage and improving infra.

In the years to come, the regional market will grow because of changing user preferences and increasing requirement for OTT services and online content.

It is because of the increasing interest of telecom companies and key vendors of IPTV, the demand for IPTV will increase considerably in the future.

Read More

Encoder Market To Touch USD 4,888 Million by 2030

As per a research report by P&S Intelligence, the total size of the encoder market was USD 2,435 million in 2022, and it will propel at a rate of 9.10% by the end of this decade, to reach USD 4,888 million by 2030.

Rotary encoders had a major share, of revenue, of approximately 58%, in the past. This has a lot to do with the increasing industrial automation across several industries, such as packaging, aerospace, healthcare, electronics, and automotive, for measuring angular speed, position, and rotation of moving parts in a variety of applications.

Encoder Market Size and Share Analysis Report

Automation in more than a few industries will power the requirement for robotics, which, in line, will increase the requirement for rotary angle sensors. Furthermore, with the progression of high-resolution systems, these devices have varied uses in industrial and commercial sectors.

The absolute category will grow the fastest in the years to come, on account of its use in a wide variety of applications requiring control or monitoring, or both. 

It comprises of diagnostic imaging and surgical robotics, which help in measuring the precise position of the product with the help of unique digital codes and offer them unique position values instantly as they are put on by scanning the location of the coded element. 

Also, it offers the data rather than an output of pulses, but an output that is a precise value in a binary format.

Optical sensing encoders have the largest share in the industry. This is due to the fact that they use light shone through a coded disk supporting in tracking the movement of the shaft. 

Likewise, these systems have numerous advantages for example better angular accuracy, better reliability, high resolution, operating in extreme environments, large hollow shaft encoders, and being light in weight.

Furthermore, the requirement for magnetic encoder technology is also increasing significantly, and advancing rapidly than optical sensing technology. This is due to the fact that magnetic scales generated for dissimilar lengths, numbers, and designs of tracks, and can also be put to use for numerous applications against harsh environments and small sizes.

North America dominates the encoder market with USD 1,515 million. This is because of the increasing manufacturing of auto parts, the increasing car count, the growing demand for consumer electronics, and the expanding R&D activities in advanced technologies. 

Furthermore, a numerous key players are present in the region, thus making it easier for users to obtain these semiconductor components.

It is because of the increasing requirement for high-end automation in numerous industries, the demand for encoders, all over the world will grow at pace in the future.

 

Read More

APAC Is Dominating Ring Main Unit Market

The global ring main unit market was valued at USD 2,220 million in 2022, and this number is projected to reach USD 3,674 million by 2030, advancing at a CAGR of 6.5% during 2022–2030, according to P&S Intelligence.

This development can be credited to the growing demand for the refurbishment of the present transmission set-up with improved subsystems. Additionally, the increasing concentration on the installation of RMUs, which are quite easy to replace, is another main reason boosting the demand for them.

Ring Main Unit Market Size and Share Analysis Forecast, 2030

The growing usage of renewable energy and secondary distribution networks is an additional crucial industry growth driver. Above all, the rising electricity needs surge the sale of transmission devices, like ring main units.

The gas-insulated variants are leading, with a market share of 68%, on the basis of insulation types, mainly because they are compact and chemical-resistant and have better functionality and toughness throughout secondary distribution.

Gas insulation is extensively utilized in wind power plants, railway systems, mining sites, power grids, and underground installations. Furthermore, gas-insulated RMUs are more capable to handle high-temperature and effective load balancing which are the main benefits fuelling the development of the industry.

APAC is dominating the ring main unit market and is projected to be in the leading position till the end of the decade. This can be credited to the increasing need for electricity, volume additions, and constant industrialization developments.

In Asia-Pacific, China is dominating the market and is projected to grow with a CAGR of 6.9%, owing to the increasing acceptance of smart grids, substation industrialization projects, and rural electrification steps by the government. Furthermore, because of the rapid urbanization and automation rates, the need for RMUs is mushrooming.

The up to 15 kV category, held the largest market share, on the basis of voltage rating, credited to the increasing demand for low-voltage distribution networks due to their better fault durable capacity. The snowballing need for up-to-15-kV RMUs in the utility sector for several applications, including transmission and substation, is also projected to fuel the growth of the market.

The industrial category holds a significant market share, due to the increasing electricity needs in this industry. The need to reduce power loss and the requirement for growing energy effectiveness are fuelling the acceptance of smart grids.

Such systems also maintain the circuits, change functions according to the needs, and offer continuous distribution of energy from different bases. The increasing expenditure on novel industrial infrastructure, therefore, drives the market.

Hence, the growing demand for the refurbishment of the present transmission set-up with improved subsystems and the increasing concentration on the installation of RMUs, which are quite easy to replace are the major factors driving the ring main unit industry.  

Read More

IAM Category Dominated Cyber Security Market

The technique of protecting electronic systems, computers, networks, mobile devices, servers, and data against hostile intrusions is known as cyber security. It is often referred to as electronic information security or information technology security.

By 2030, it is predicted that the cyber security industry would be worth USD 352.5 billion, as per P&S Intelligence. This is primarily due to an increase in cyberattacks, rising cloud computing technology spending, surging cloud encryption solution adoption, surging BYOD acceptance, and snowballing adoption of big data analytics, computer vision, ML, and IoT. 

Cyber Security Industry Demand Forecast to 2030

Healthcare organizations, music labels, and financial institutions have all using blockchain technology. Peer-to-peer blockchain can save costs and boost productivity without a central middleman, but it is dangerous. Device vulnerabilities might result from things like bad encryption, hashing, inadequate cyber security, and poorly designed applications.

Fraudulent transactions, data breaches, and illegal financial transfers are all possible outcomes of a corrupted blockchain. Blockchain technology, which has a sophisticated architecture, is the most secure method of storing and exchanging information online.

Demand for Identity and Access Management Solutions Is Booming

The IAM category held the biggest share, or around 20%, of solutions types in 2022. This is mostly due to the rise in demand for complete user access control within enterprises, security of sensitive data, safe cooperation with outside stakeholders, and automation of repetitive processes to save costs associated with IT. 

As a result, leading companies are introducing cloud-based IAM solutions to meet the increasing demand and increase their market share.

The risk and compliance management category, on the other hand, is predicted to develop at the quickest rate, with a CAGR of almost 15%. This may be attributed to enterprises putting a greater emphasis on user access control visibility, complying with laws, and rising knowledge of controlling and anticipating possible risks to prevent financial losses.

Additionally, the managed category had the greatest proportion of the worldwide market for cyber security services in 2022, at almost 30%. This is because managed services are in high demand among SMEs due to their numerous advantages, such as reduced IT expenses and increased productivity. 

Large enterprises are also quickly embracing managed services to save operating expenses and increase their worldwide reach with dependable and consistent services.

Growing Cybersecurity Usage for Connected IoT Ecosystem

A huge potential exists thanks to the IoT for consumers, businesses, and IT companies. The capabilities of IoT solutions are still largely untapped by most businesses. To combat the dangers of cyberattacks related to their IoT equipment, IoT users and software developers want to employ a variety of existing and future technological solutions.

Tech firms and the creators of such solutions must take the initiative to safeguard their products and create a more secure IoT ecosystem.

Companies carefully assess the reliability of their qualified partners and outside vendors, and they make investments in integrating data privacy and cyber security into the linked ecosystem. 

To reach their objectives that are necessary for the linked ecosystem, businesses are also thinking about a variety of techniques that might provide the possibility for constructing, investing, and forming alliances.

Read More

Hybrid Electric Car Market Will Reach 9.9 Million Units by 2030

With an increase in population and the income of the people, the number of vehicles on the roads globally are also increasing like anything. Vehicular pollution has long been a global issue, and it is continuing to be the same. Addressing that, people have started looking for options that can substitute the burning of fossil fuels in vehicles. 

Electric cars and hybrid electric cars have come out as a solution for countering this issue of increasing pollution. Because of this, the demand for hybrid electric cars is on the rise, and will reach a volume of 9.9 million units by the end of this decade.

What is a Hybrid Electric Car?

HEVs has all the benefits of a gasoline along with electric powertrain. They are designed with an intention to chiefly meet the goal of getting better fuel economy from a vehicle. Mileage of a hybrid cars is much better than a conventional fuel burning car.

While conventional cars use an ICE-powered engine, the hybrid cars have engine and motor. The motor functions in sync with the petrol- or diesel-powered engine. 

Different Types of Hybrid Cars

Pure Hybrids

Pure hybrids have all the potential to just run on the power from an electric motor, also there is a feature in these cars of switching automatically between fuel power and electric power depending up on the terrain and the usage. These variants had the largest share in the hybrid electric car market, of around 66%, last year as stated by P&S Intelligence..

Mild Hybrids

Mild-hybrid is another kind of car that has the potential to do the same. The motor in a mild-hybrid car provides support the engine in acceleration hence bringing about a better fuel economy than the conventional fuel-powered cars.

Plug-in Hybrids

PHEVs are pretty much similar to EVs. They can run solely on electric motors, though, the range of the plug-in hybrids is much greater. While Hybrid cars give a mileage of 25–40 km in electric mode, PHEVs can have a range of around 60–100 km in pure electric mode. Similarly, they can switch from electric to hybrid mode.

People are choosing hybrid cars based on their preferences and pocket, and with the improvements in technology and charging infra, there can be a time, when the roads will be bereft of only diesel-petrol driven vehicles. 

Read More