marketresearchtrendsnews - Tumblr blog

[marketresearchtrendsnews]

Network Security Market Size, Industry Share and Growth Rate 2027

The global network security market size is projected to reach USD 54.07 billion by the end of 2027. Increasing number of cybercrime activities will have a major impact on the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Network Security Market Size, Share & Industry Analysis, By Type(Firewalls, Antivirus and antimalware software, VPN, Data loss prevention, Intrusion prevention systems, Wireless security, Others (Email security, Application security etc.), By Enterprise Size (SMEs and Large Enterprises), By Deployment (Cloud, On-premises), By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities and Others (Education, etc.,.)), and Regional Forecast, 2020-2027,” the market was worth USD 22.74 in 2019 and will exhibit a CAGR of 11.6% during the forecast period, 2020-2027.

Network security refers to the security of all types of data that is involved in activities over the internet. The increasing internet penetration across rural as well as urban countries across the world will have a huge impact on the growth of the market. The growing investment by IT companies as well as other businesses will open up a huge potential for market growth. Due to increasing number of cybercrimes and data leaks across the world, it has become important to secure sensitive data. Increasing demand for the product has led to the presence of several large scale companies across the world. The emergence of 5G network, coupled with the availability of internet services at low costs will create several opportunities for market growth.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

North America to Hold the Highest Market Share; Presence of Several Large Scale Companies Will Aid Growth

The report analyzes the ongoing network security market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in in North America is likely to account for the highest network security market share in the coming years. The excessive internet usage, coupled with increasing e-commerce activities will have a huge impact on the market. Increasing number of businesses operating over the internet will also create several growth opportunities. As of 2018, the market in North America was worth USD 9.76 billion and this value is projected to increase further in the coming years.

List of companies profiled in the Network Security Market Research Report are:

• Check Point Software Technologies Ltd.

• Cisco Systems, Inc.

• FireEye, Inc.

• Fortinet, Inc.

• Juniper Networks, Inc.

• Kaspersky Lab.

• Palo Alto Networks, Inc.

• SonicWall.com

Integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2025. Additionally, the rising adoption of e-financial services is expected to boost the global market.

[marketresearchtrendsnews]

Enhanced Oil Recovery Market Size, Industry Share and Growth Rate 2027

The global enhanced oil recovery market size is projected to reach USD 20.06 billion by 2027, exhibiting a CAGR of 7.5%during the forecast period. Increasing requirement for advanced oil recovery technologies around the world is expected to be the key growth driver for this market, as per the new Fortune Business Insights™ report, titled “Enhanced Oil Recovery Market Size, Share & Industry Analysis, By Technology (Thermal Injection, Gas Injection, and Chemical Injection), By Application (Onshore and Offshore), and Regional Forecast, 2020-2027”. Enhanced oil recovery (EOR), or tertiary recovery, is a technique that is deployed to increase oil production at a well-site. EOR mechanism is utilized to retrieve oil that primary and secondary extraction methods have been unable to retrieve. According to the US Department of Energy (DoE), EOR technology can lead to an increase in oil production between 30% and 60% of a reservoir’s original oil capacity. The technology features three main categories, namely, thermal recovery, gas injection, and chemical injection. Of these, the gas injection technique, involving pushing of CO2 in wellbores, has been found to be particularly successful, especially in North America, and is slated to lead the enhanced oil recovery market trends in the coming years.

The rising awareness about green energy sources across the world is transforming the energy and power industry. The trend of green energy is emerging on account of increasing environmental pollution from traditional energy resources. Governments are playing a significant role in conducting awareness programs about clean energy. Fortune Business Insights in a report, titled “Enhanced Oil Recovery Market Size, Share and Global Trend By Method, By Application and Geography Forecast till 2026” published the above information.

Top Players Overview:

Some of the leading players operating in the global Enhanced Oil Recovery market include;

Chevron

Total

ExxonMobil

Petrobras

Conoco Phillips

Equinor

Husky Energy

Cenovus Energy

PDVSA

Imperial Oil

Gazprom

China National Petroleum Corporation

China Petroleum and Chemical Corporation (Sinopec)

Occidental Petroleum

The rising instability in crude oil prices is expected to positively impact the growth of the Enhanced Oil Recovery Market. Rising privatization and relaxation in the FDI norms are factors enabling growth in the market. Also, governments are heavily investing in power projects, which in turn, may fuel demand for energy and power plants across the globe.

Regional Analysis:

North America (The USA and Canada)

Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)

Latin America (Brazil, Mexico and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Competitive Landscape

Increased Collaboration between State Entities to Excite the Market

According to the enhanced oil recovery market study, the state entities are teaming up to explore the possible avenues for utilizing the EOR technology. This has the potential to prepare the market for a surge in demand that is expected to occur once the world tides over the COVID-19 outbreak, even though the demand is unlikely to return to the pre-pandemic levels anytime soon.

Industry Developments:

July 2019: The Office of Fossil Energy under the US Department of Energy announced that it has selected five projects that will receive federal funding amounting to USD 39.9 million. This funding will be directed towards R&D in advancing the EOR technology in conventional and unconventional reservoirs.

July 2019: The Indian Oil Corporation Limited (IOCL) and the Oil and Natural Gas Corporation Limited (ONGC) signed a MoU for implementing CO2-based EOR in the Koyali refinery operated by IOCL. The two companies aim at reducing India’s carbon footprint and elevating its domestic production simultaneously.

[marketresearchtrendsnews]

Cooling Towers Market Size, Industry Share and Growth Rate 2027

The global cooling towers market size is expected to reach USD 4.63 billion in 2027. Fortune Business Insights™ published this in a new study, titled, “Cooling Towers Market, 2020-2027.” The study further mentions that the market stood at USD 3.50 billion in 2019. It would show a CAGR of 3.7% between 2020-2027. Manufacturers of cooling towers are nowadays focusing on the development of eco-friendly products to increase sustainability. In May 2021, Rosatom, a nuclear energy company headquartered in Russia, for instance, successfully conducted hydrostatic testing of the evaporative cooling tower situated in Leningrad II-2. The tower will maintain nuclear safety and reduce energy consumption.Report Coverage-We follow an innovative research methodology that includes data triangulation on the basis of bottom-up and top-down approaches. We conduct extensive primary research to validate the upcoming numbers. The information used to estimate the forecast for several segments at the country, regional, and global levels is gathered through interviews with renowned stakeholders. Also, we derive data from paid industry journals, SEC filings, databases, and other accurate resources. The report includes numerous other details, such as drivers, opportunities, challenges, and dynamics of the market.Drivers-Fortune Business Insights™ Says Expansion of Construction Industry to Bolster GrowthNowadays, government agencies are investing huge sums in the development of transport infrastructures, especially ports, bridges, and airports. The John F. Kennedy International Airport, for instance, is planning to add two international terminal complexes. It is anticipated to be done by the end of 2025. Such upcoming projects would help the construction industry to flourish, which, in turn, would propel the demand for HVAC systems. These factors are likely to aid the cooling towers market growth in the near future.Segments-Dry Towers Segment to Grow Moderately Backed by Requirement of Less Operating CostWe have divided the global market into type and application. By application, it is fragmented into food & beverages, HVAC, chemicals & petrochemicals, power generation, pharmaceutical, and others. Below is the segmentation of the market on the basis of type:By Type: Based on type, the market is segregated into hybrid towers, dry towers, and wet towers. Amongst them, the dry towers segment procured 13.0% in terms of the cooling towers market share in 2019. These towers require very less maintenance and operating cost. But, it will be overtaken by the wet towers segment as the latter provides reliable operations under hot climatic conditions.Regional Insights-North America to Lead; Rising Power Generation Plants to Boost Growth in Asia Pacific· North America: The region is projected to retain its dominant position throughout the forthcoming years backed by the increasing adoption of advanced technologies, as well as the presence of reputed manufacturers. It stood at USD 1.51 billion in 2019.· Asia Pacific: The surging development of infrastructure and construction of power generation & nuclear plants, especially in India, Japan, and China, would propel growth in this region.Fortune Business Insights™ lists out the names of prominent cooling tower manufacturers operating in the global market. They are as follows:· Krones AG (Germany)· SPX CORPORATION (United States)· Babcock & Wilcox Enterprises, Inc. (United States)· EWK (Spain)· Kelvion Holding GmbH (Germany)· HAMON & CIE (INTERNATIONAL) S.A. (Belgium)· MITA Cooling Technologies Srl (Italy)· Johnson Controls (Ireland)· Paharpur Cooling Towers Ltd (India)· Baltimore Aircoil Company (United States)· EVAPCO, Inc. (United States)

[marketresearchtrendsnews]

Blockchain-as-a-Service Market Size, Industry Share and Growth Rate 2027

The global blockchain-as-a-service market size is set to reach USD 24.94 billion by 2027, exhibiting an impressive CAGR of 39.5% during the forecast period. Multiple advantages of BaaS for small and medium enterprises (SMEs) will fuel the market growth, states Fortune Business Insights™ in its recent report, titled “Blockchain-as-a-Service (BaaS) Market Size, Share & Industry Analysis, By Component (Tool and Service), By Application (Smart Contracts, Supply Chain Management, Payments, Governance, Risk, and Compliance Management and Others (Identity Management)), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Entertainment, Retail & Consumer Goods, Travel and Transportation and Others (Education etc.)), and Regional Forecast, 2020-2027”.

To Gain More Insights into the, Browse Summary of the Research Report: https://www.fortunebusinessinsights.com/blockchain-as-a-service-baas-market-102721

Blockchain technology is emerging as an optimal solution to many of the challenges faced by SMEs such as access to trade financing, bank loans, and cash flow difficulties, among other issues. SMEs looking to expand their businesses in foreign lands can gain wider access to trade financing sources using BaaS as this technology is decentralized and cuts out middlemen from the process. The World Economic Forum (WEF) opines that blockchain technology could be instrumental in bridging the gap in trade financing around the world. Similar benefits can be reaped by SMEs in the context of supply chain processes. Thus, these potential advantages of blockchain for SMEs will provide a significant boost to the BaaS market growth in the coming years.

Market Restraint

Heightened Vulnerability to Cyber Threats to Hamper Market Growth

The safety quotient of financial transactions has gotten considerably elevated since the advent of blockchain technology. Given its complex architecture, hacking into a blockchain-based system requires sophisticated computer skills and tools. Nonetheless, analysis by NASDAQ, one of the three stock indexes in the US, reveals that this technology is not bereft of vulnerabilities, originating primarily from the endpoints that use wallets to initiate transactions. These wallets become easy targets for hackers. For instance, a crypocurrency exchange platform, Ethereum Classic, was hacked in 2019, with the hacker rewriting the transaction history of the platform and stealing millions. During the same year, hackers stole around $40 million in Bitcoin transactions, exploiting the susceptibility of the same endpoint issue stated earlier. Thus, the constantly looming threat of cyber-attacks may prohibit the blockchain-as-a-service market growth during the forecast period.

Regional Analysis

Increasing Investment in Blockchain Technology to Drive the Market in North America

In 2019, the market size in North America stood at USD 1.01 billion owing to the vast number of blockchain development projects being undertaken in the US. One of the major reasons for the widespread development and adoption of BaaS tools in North America is the strong presence of small, medium, and large tech companies operating in the US. This, along with rising integration of BaaS solutions with public utilities services, will enable the region to dominate the blockchain-as-a-service market share in the foreseeable future.

In Asia-Pacific, the market will be mainly driven by the rising investment in blockchain technology by the Chinese government and advancements in complex computer technologies in Japan and South Korea. The BaaS market report states that Asia-Pacific will register the highest CAGR during the forecast period. In Europe, increasing focus of well-established players on blockchain technology will propel the market in the near future.

Industry Developments:

· May 2019: Microsoft and JP Morgan announced their partnership to further the advancement and adoption of enterprise blockchain. Under the partnership, JP Morgan’s distributed ledger platform Quorum will be made accessible via Microsoft’s Azure Blockchain Service to enable customers to build cloud-based blockchain networks.

· April 2018: Huawei unveiled its novel BaaS solution, called Blockchain Service, based on Linux Foundation’s Hyperledge Fabric 1.0. The solution is devised to aid companies design smart contracts focusing on supply chain, securitized assets, and public services, on top of a distributed ledger network.

List of Companies Covered in the Report:

• Huawei Service (Hong Kong) Co., Limited

• Stratis Group Ltd.

• NTT Data Corporation

• Baidu, Inc.

• Oracle Corporation

• Microsoft Corporation

• VMware, Inc.

• Infosys Limited

• Accenture Plc

• SAP SE

• Alibaba Group

• IBM Corporation

[marketresearchtrendsnews]

Cloud Computing Market Size, Industry Share and Growth Rate 2027

The global cloud computing market is expected to gain momentum from the rising inclination of enterprises to omni-cloud solutions from multi-cloud solutions. This information is given by Fortune Business Insights™ in a new report, titled, “Cloud Computing Market Size, Share & COVID-19 Impact Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others), and Regional Forecast, 2020-2027.” The report further states that the market size stood at was USD 193.60 billion in 2019 and it is projected to reach USD 684.55 billion by 2027, exhibiting a CAGR of 17.6% during the forecast period.

This Report Answers the Following Questions:

· Which segment is set to lead the market in the near future?

· Which firm would generate the highest revenue in the coming years?

· How will key companies boost sales of cloud computing services amid COVID-19?

· What are the estimated, historical, and current sizes of the global market?

Drivers & Restraints-

Urgent Need to Analyze Data-driven Business Strategies will Favor Growth

The integration of innovative technologies, such as machine learning (ML) and artificial intelligence (AI) with cloud computing solutions is increasing globally. It is aiding in analyzing, visualizing, and monitoring data-driven business strategies. At the same time, such integration processes would allow companies to make complex data accessible and usable over the visual representation, as well as to accelerate their visualization capabilities. However, the rising number of privacy and security concerns regarding unforeseen emergencies, application vulnerabilities, cyber-attacks, and data breaches may hamper the overall cloud computing market growth throughout the forthcoming years.

Regional Analysis-

North America to Remain at Forefront Owing to Presence of Amazon, IBM, & Apple

Regionally, in 2019, North America generated USD 58.10 billion in terms of revenue. The region is anticipated to lead the market fueled by the presence of several prominent cloud computing service providers, namely, Apple Inc., IBM Corporation, and Amazon Web Services in the region. Asia Pacific, on the other hand, is set to exhibit an astonishing growth in the near future backed by the rapid digitalization and the rising internet penetration. Europe would show a substantial CAGR because of the high expenditure on cloud-based technologies in the region.

Competitive Landscape-

Key Players Aim to Gain Competitive Edge through New Product Launches

The market houses numerous reputed companies that are either opening new data centers or are launching new cloud computing solutions to gain a competitive edge. Most of them are nowadays striving persistently to develop state-of-the-art solutions for making COVID-19 tests easy for healthcare workers. Below are two latest industry developments:

· July 2020: Amazon Web Services (AWS) opened three unique data centres in Bahrain to enter in the Middle East market. It is currently planning to open nine more availability zones in South Africa, Italy, and Indonesia to expand its presence.

· May 2020: Microsoft Corporation unveiled its latest cloud computing solution called Hospital Emergency Response to help healthcare institutes develop COVID-19 assessment tools, thereby reducing the stress on front line workers.

[marketresearchtrendsnews]

Smart Meter Market Size, Industry Share and Growth Rate 2026

The global smart meter market size is projected to reach USD 44.18 by the end of 2026. Recent technological advancements have emerged in favor of the market in the coming years. According to a report published by Fortune Business Insights, titled “Smart Meter Market Size, Share & Industry Analysis, By Type (Smart Electric Meter, Smart Gas Meter, Smart Water Meter) By Technology (Automatic Meter Reading {AMR} and Advanced Meter Infrastructure), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2019-2026,” the market was worth USD 24.53 billion in 2018 and will exhibit a CAGR of 7.7% during the forecast period, 2019-2026.

A few of the leading companies that are operating in the global smart meter market include:

• Siemens (Germany)

• ABB (Switzerland)

• Kamsturp (Denmark)

• Itron (US)

• Landis + Gyr (Switzerland)

• Badger Meter (US)

• Diehl (Germany)

• Secure Meter Limited(UK)

• Aclara Technologies (US)

• Sensus (US)

• BMETER (UK)

• Jabil(US)

• Honeywell (US)

• ZENNER (US)

Smart meter provides two-way communication and acts as a medium between customers and service providers. This allows for improved efficiency, subsequently aiding the demand for the product across the world. Modern smart meters allow for improved product operations. The use of advanced concepts such as the IoT and sensor-based monitoring has opened up the potential for widespread product applications. The presence of several large scale companies has made a huge impact on the growth of the market in the foreseeable future. The increasing number of company mergers and collaborations has also contributed to the growth of the market. The contributions from government organizations, as well as private companies, will bode well for the market.

Increasing Number of Company Mergers Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on the market. In March 2017, PUB awarded a contract to CH2M Hill Singapore. The contract will be aimed at the development and installation of 300,000 water meters. The water meters will be installed existing residential, commercial, and industrial premises by the end of 2023.This contract will have a positive impact on the growth of the overall market in the foreseeable future.

Asia Pacific Dominates the Market; Focus on Sustainable Energy Management to Aid Growth

The report analyzes the ongoing smart meter market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in Asia Pacific currently dominates the market. The focus on implementation of sustainable products by major companies will aid the growth of the regional market. As of 2018, the market in Asia Pacific was worth USD 12.23 billion and this value is projected to increase further in the coming years. The market in North America and Europe will witness considerable growth in the coming years, driven by the presence of several large scale companies in several countries across this region.

Industry Developments:

October 2019: The National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL), announced a new joint venture labeled ‘IntelliSmart’.

[marketresearchtrendsnews]

Centrifugal Pump Market Size, Industry Share and Growth Rate 2026

The global centrifugal pump market size is anticipated to reach USD 50.32 billion by 2026 owing to the rapid development of the commercial and industrial infrastructure worldwide. A centrifugal pump is a mechanical device that uses a simple mechanism for drawing up liquid from a high or low level. This is possible by converting rotational energy from a motor to energy in the moving liquid. According to a recently published report by Fortune Business Insights™ titled, “Centrifugal Pumps Market Size, Share & Industry Analysis, By Type (Axial Flow, Radial Flow, Mixed Flow), By Stage (Single-Stage, Multi-Stage), By End-user (Residential, Commercial, Industrial, Agricultural), and Regional Forecast, 2019-2026,” the market value stood at USD 36.05 billion in 2018. It will rise at a CAGR of 4.3% during the forecast period set from 2019 to 2026.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

List of Centrifugal Pump Market Manufacturers are the following:

• Kirloskar Brothers Limited (India)

• ITT Inc. (U.S.)

• The Weir Group PLC (Scotland)

• Sulzer (Switzerland)

• Wilo Group (Germany)

• GRUNDFOS (Denmark)

• Xylem (U.S.)

• Flowrox (Finland)

• KSB Company (Germany)

• Flowserve Corporation (U.S.)

• Ebara Corporation (Japan)

• Dover Corporation (U.S.)

• Tsurumi Pump (Japan)

What is the Scope of the Report?

The report offers an elaborate overview of the market and its growth parameters, such as factors repelling, boosting, challenging, and creating opportunities for the market. It also emphasizes on the competitive landscape of the market, key industry insights, and other centrifugal pump market trends. Besides this, the report talks about market segmentation based on factors such as stage, type, end-user, and regions. Furthermore, the report highlights the list of players operating in the market, and the significant strategies adopted by them to gain a competitive edge in the market. These include mergers and acquisitions, contracts and agreements, investments in research and development, and other company collaborations. The report is available for sale on the company website.

Regional Segmentation:

Asia Pacific to Dominate Market with Rising Demand for Industrial Applications

At present, Asia Pacific is holding the largest centrifugal pump market share owing to the increasing demand for energy, coupled with the rise in processing and manufacturing industries. The significant nations contributing significant revenues to this region include India, China, Australia, Japan, and the Southeast Asian countries. On the other side, the market in North America will witness significant growth owing to the rise in expenditure on construction activities, coupled with rapidly developing industrial establishments. In addition to this, the increase in oil and gas production targets, coupled with substantial hydrocarbon reserves, is likely to aid in the expansion of the regional market.

[marketresearchtrendsnews]

HVAC Systems Market Size, Industry Share, and Growth Rate 2027

The global HVAC system market size is projected to reach USD 191.83 billion by 2027, exhibiting a CAGR of 5.0% during the forecast period. Increasing indoor air pollution worldwide will emerge as a major factor propelling the adoption of HVAC systems, finds Fortune Business Insights™ in its report, titled “Heating, Ventilation, and Cooling (HVAC) System Market Size, Share & COVID-19 Impact Analysis, By Type (Single Split Systems, Variable Refrigerant Flow (VRF) Systems, Chillers and Others), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2020-2027”. Indoor air quality in enclosed structures such as schools, homes, and commercial spaces is hampered by the presence of different pollutants such as volatile organic compounds and carbon monoxide. The US Environmental Protection Agency estimates that concentrations of pollutants indoors are 2 to 5 times higher than outdoors. In many countries around the world, inefficient cooking practices are the primary for indoor household pollution. According to the World Health Organization (WHO), around 4 million people die prematurely from illnesses, such as lung cancer and ischemic heart disease, developed due to household pollutants. Heating, ventilation, and cooling systems provide an optimal solution to this problem as these systems can mechanically pulls outdoor air into the home and purifies the indoor air, removing pollutants in an efficient manner.The report states that the global market value stood at USD 130.19 billion in 2019 and also shares the following information:· Valuable insights into the various trends and drivers shaping the growth trajectory of the market;· Thorough analysis of the different hindrances obstructing market growth;· Critical evaluation of the regional prospects and competitive dynamics of the market; and· Exhaustive study of all the market segments.Market DriverThreat of Airborne Spread of COVID-19 May Spike the Demand for HVAC SystemsIn July 2020, the WHO acknowledged the threat that the coronavirus can spread through air. This has brought to light the role played by traditional heating, ventilation, and cooling systems in spreading the virus in enclosed spaces. The main argument in this context is that poor ventilation of energy-inefficient air conditioners is the primary cause of transmission of the virus. For example, a study conducted by the University of Oregon found that the virus was present in 25% of the HVAC systems in hospitals with COVID-19 patients. Therefore, many experts are recommending installing HVAC systems that let in 20% fresh air from outside. As a result, several building owners and managers are upgrading their ventilation systems with more advanced units. In response to the sudden demand spike, companies such as Carrier and Honeywell are offering portable filter machines and air-monitoring sensors to provide improved ventilation. The COVID-19 pandemic is, therefore, generating unprecedented opportunities for market players and boosting the heating, ventilation, and cooling system market growth.Regional InsightsAsia Pacific to Command Market Share; North America to Grow ConsiderablyWith a market size of USD 64.86 billion, Asia Pacific dominated the heating, ventilation, and cooling system market share in 2019 and is expected to continue its impressive performance during the forecast period. The main factor augmenting the market in this region is the rising spending capacity of the consumers, which is pushing them to opt for advanced HVAC systems. Additionally, increasing awareness about indoor pollution and governmental regulations governing urban sustainability are anticipated to provide further impetus to the market.In North America, the market will be mainly driven by the escalating demand for HVAC systems from the residential sector. On the other hand, the market in Latin America is set to experience dynamic growth owing to expansion activities of several manufacturers to boost production and sales in Mexico and Brazil.

List of Companies Profiled in the Heating, Ventilation, and Cooling System Market Report:· Evapco, Inc. (Maryland, U.S.)· Armstrong Fluid Technology (Ontario, Canada)· FERROLI S.p.A. C.F. epVA. (San Bonifacio, Italy)· Emerson Electric Co. (Missouri, U.S.)· AB Electrolux (Stockholm, Sweden)· SAMSUNG (Seoul, South Korea)· Haier Inc. (Qingdao, China)· Schneider Electric (Paris, France)· Carrier (Florida, U.S.)· DAIKIN INDUSTRIES, Ltd. (Osaka,Japan)· Robert Bosch LLC (Baden-Württemberg, Germany)· Valliant Group (North Rhine-Westphalia, Germany)· Danfoss A/S (Syddanmark, Denmark)· Nortek Global HVAC LLC (Missouri, U.S.)· Panasonic Corporation (Osaka, Japan)· LG Electronics (Seoul, South Korea)· GREE ELECTRIC APPLIANCES, INC. (Guangdong, China)· Mitsubishi Electric Corporation (Tokyo, Japan)· Johnson Controls(Cork, Ireland)

[marketresearchtrendsnews]

Workforce Management Market Size, Industry Share and Growth Rate 2026

The global workforce management market size is projected to reach USD 5.25 billion by 2026, exhibiting a CAGR of 10.1% during the forecast period. Growing need to enhance productivity and efficiency of employees among organizations will be the central growth driver for this market, as per the new Fortune Business Insights™ report, titled “Workforce Management Market Size, Share & Industry Analysis, By Component (Software, and Services), By Deployment (On-Premise, and Cloud), By Enterprise Size (SMEs and Large Enterprises), By Application (Workforce Analytics, Workforce Scheduling, Time and Attendance Management, and Others), By End-Use Industry (IT and Telecommunication, BFSI, Government, Retail, Healthcare, Education, Manufacturing, and Others) and Regional Forecast, 2019-2026”.

Majority of office tasks today are performed in a clockwork manner, requiring executives and other employees to use their decision-making faculties even for routine administrative work. This has resulted in declining productivity of the workforce, necessitating solutions to optimize management of workforce in companies. For example, Apollo Hospitals, a leading healthcare provider in Asia, deployed the Kronos Workforce Central in early 2019 in a bid to increase the efficiency and productivity of its employees. The product allows staff members to program their schedules and make user engagement easier and more convenient. Incorporation of such innovations by end-users in various sectors is expected to lead the workforce management market trends in the foreseeable future.

List of Players Profiled in the Workforce Management Market Report:

NetSuite, Inc.

Verint

Cornerstone OnDemand, Inc.

WorkForce Software, LLC.

Automatic Data Processing, Inc.

Oracle Corporation

Infor

IBM Corporation

Ultimate Software

Workday, Inc.

SAP SE

Kronos, Inc.

Regional Analysis

Government-led Digitization Initiatives to Drive Market Growth in Asia-Pacific

The market size in Asia-Pacific is anticipated to showcase the most impressive growth trajectory in the forthcoming years. The prime factor propelling the market in this region include digitization of services and processes, backed by strong government support. An excellent example of this is Singapore’s ‘Go Digital’ initiates that encourages SMEs to integrate digital solutions in their existing setups.

North America, with a revenue generation of USD 0.92 billion in 2018, is poised to dominate the workforce management market share as companies in the region are aggressively implementing cloud-based solutions. Additionally, the region is also home to some of the largest technology giants such as IBM and oracle, which augurs well for this market. In Europe, on the other hand, rising demand for automation is expected to fuel the market.

Industry Developments:

January 2020: The Italian gum and confectionary manufacturer Perfetti Van Melle chose Kronos Incorporated, the US-based workforce management leader, to automate its 2,600-strong workforce in eight countries. With Kronos Workforce Central, Perfetti will have a unified WFM platform to monitor its employees as well as optimize its manufacturing processes.

October 2019: The American human resource management tools provider Automatic Data Processing, Inc. expanded its WFM solutions portfolio to include ADP Compliance on Demand to track employee performance efficiently.

[marketresearchtrendsnews]

Offshore Drilling Market Size, Industry Share and Growth Rate 2026

The global offshore drilling market size is slated to reach USD 56.97 billion by 2026, exhibiting a CAGR of 7.9% during the forecast period. Surging demand for electricity worldwide is expected to drive the growth of this market, states Fortune Business Insights™ in its new report, titled “Offshore Drilling Market Size, Share and Industry Analysis, By Rig Type (Drill-ships, Semi-submersibles, and Jackups), By Water Depth (Shallow Water, Deepwater, and Ultra-Deepwater), and Regional Forecast, 2019-2026”.

According to the International Energy Agency (IEA), the global demand for electricity is projected to rise by 2.1% annually till 2040, representing an increase from 19% in 2018 to 24% in 2040 in terms of share of electricity in total energy consumption. Moreover, presently, non-renewable sources account for 36% of the total electricity generation around the world. Fossil fuel-powered plants require oil and gas to function smoothly and generate a stable amount of electricity. With the accelerating pace of urbanization and industrialization in emerging economies, the demand for electricity will necessitate higher production of oil and gas, which will drive the offshore drilling market trends.

List of Players Covered in the Offshore Drilling Market Report:

Archer Well Company (Norway)

Borr Drilling (Bermuda)

Odfjell Drilling (Norway)

Pacific Drilling (United State)

Noble Drilling (United Kingdom)

Valaris plc (United Kingdom)

Transocean (Switzerland)

Shelf Drilling (UAE)

Maersk Drilling (Denmark)

KCA Deutag (United Kingdom)

COSL – China Oilfield Services Limited (China)

Diamond Offshore Drilling, Inc. (United States)

Saipem (Italy)

Nabors Industries (Bermuda)

Regional Analysis:

Asia-Pacific to Occupy Commanding Position; Middle East & Africa to Show Promising Growth

Asia-Pacific, which boasted a market size of USD 11.23 billion in 2018, is anticipated to command the offshore drilling market share during the forecast period on account of potential presence of undiscovered oil & gas reserves. The Middle East is well-known for its vast hydrocarbon reserves and countries such as Saudi Arabia and Qatar are further ramping up their exploration & production (E&P) capabilities through extensive fleet expansion activities. Africa is fast emerging as a major hotbed of hydrocarbon sources, prompting huge investments by companies and governments in the continent. European energy majors, namely Norway, UK, Germany, and Russia, are making significant investments in increasing their offshore E&P activities, especially in the North Sea and the Norwegian continental shelf.

Industry Developments:

March 2020: ExxonMobil’s Australian subsidiary, Esso Australia, announced that it has hit the total depth in its ongoing project in the West Barracouta gas field development in Bass Strait. Comprising of two subsea production wells, the development project will be controlled by the prevailing Barracouta infrastructure, with production slated to commence from early 2021.

January 2020: Transocean Ltd., the world’s largest offshore drilling company based in Switzerland, reported that it is experiencing a flood of contracts for its ultra-deepwater services as well as its services for drilling in inhospitable environmental conditions. The company also declared that it has secured additional contracts worth $352.9 million at the beginning of 2020.