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Plant Asset Management Market Analysis and Demand with Forecast To 2023

Plant Asset Management Market Research Report: Information by Offering (Software, Service), by Deployment Mode (Offline, Cloud), by Asset Type (Production Asset, Automation Asset), by End-User (Chemical, Aerospace and Defense) by Region - Global Forecast till 2023

Market Overview

Market Research Future (MRFR) emphasizes in its research report that the global market 2020 is projected to rise rapidly over the review period, achieving a significant market valuation from USD 5.20 Billion in 2017 to USD 8.78 billion by 2023, and a healthy CAGR of 9.5% over the review period. Drivers and Restraints

Growing demand for a cloud-based plant asset management solution drives the plant asset management market. Adopting lean manufacturing practice, requiring real-time data analysis, and growing demand for applications for failure detection also propels market growth. Growing awareness about the adoption of low-cost manufacturing plants, rising customer needs and growing trends in integrating IT and operational technology among others are key factors driving growth in the plant asset management sector. The plant asset management market is also projected to expand at the highest pace over the forecast period. This is due to the rising IoT market and an increasing demand from end-user industries for new technologies.

On the other hand, one of the major factors hampering the growth of the plant asset management market is high initial cost of investment. In addition, the need for periodic upgrading and the complexities involved in plant asset management solutions installations can hinder market development.

Segmental Analysis

By offering, the market is bifrucated into software and services.

By deployment mode, the plant asset market is divided into offline deployment and cloud deployment.

By asset type, the market is bifurcated into production asset and automation asset.

By end user, the market is divided into chemical, energy and power, food and beverages, oil and gas, healthcare, aerospace & defense, automotive, and others.

Regional Analysis

The global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.

Asia-Pacific owing to the presence of numerous main players and vendors in the area is expected to dominate the plant asset management market. The growing solar, hardware, energy and power industries, and automotive industries are also driving the region's market development. The rising economy has led to growth in Japan, India, China and other Asian countries as the industries adopt plant asset management to minimize maintenance costs.This trend is fueling market growth as foreign investment in the region is growing. Due to the rapidly increasing industrial base and rising competition among the players in the region, the fastest growing market is expected to be the Asia-Pacific market too. North America is slated to be the second-largest market due to the presence of numerous industries and key players in the region, such as IBM Corporation and Honeywell International Inc. North America also has early access to emerging technology due to the superior infrastructure funding, and it is one of the early adopters of the plant asset management system, responsible for business growth.

Competitive Analysis

The major market players operating in the global market as identified by MRFR are Endress+Hauser Management AG (Switzerland), Honeywell International Inc. (US), General Electric Co. (US), Rockwell Automation, Inc. (US) , Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Emerson Electric Company (US), Dassault Systèmes (France), IBM Corporation (US), and Hitachi Ltd. Plant asset management market tends to be highly competitive. To retain its market place and drive market growth, a competitive environment is created by numerous diverse and diversified foreign organizations, domestic organizations and new entrants. Business leaders are constantly innovating and increasingly pursuing market growth through numerous strategic mergers and acquisitions, innovation, increased research and development investments, and cost-effective product portfolio. Big players invest in internal R&D, and most of all in the purchase of other firms.

Access Report Details @ https://www.marketresearchfuture.com/reports/plant-asset-management-market-1788

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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M2M Communication Market Global Trends and Forecast To 2022

M2M Communication Market, by Technology (Wired, Wireless), by Component (Wi-Fi, Sensors, RFID, Computer Software), by Application (Consumer electronics, Healthcare, Retail, Automotive, Utilities, and Home Automation) - Forecast 2016-2022

M2M Communication Global Market - Overview

The global M2M communication market is showing immense growth; mainly due to the growing need for energy-efficient lighting systems. M2M communication refers to connecting different machines of the same type other than smartphones, tablets, and wearables with each other. The technology is segmented into wired and wireless. With the advancements in technology, M2M Communication also allows connected vehicle opportunity which offers inter vehicle and intra vehicle in order to improve the driver experience. Strong support of mobile operators and the growing high speed networks are major factors driving the growth of M2M communication market. Also, increase in cloud based M2M application platforms is one major factor driving the growth of the market. Moreover, increasing strategic partnerships with system integrators is another major factor responsible for driving the growth of M2M communication market.

According to a recent study report published by Market Research Future, The global market of M2M Communication is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022 with a striking CAGR during the anticipated period (2017 – 2022). Technological advancements and growing demand for public safety networks is boosting the growth of M2M communication market. Also, increasing demand for M2M communication from transportation and healthcare is another major factor driving the market growth. The M2M Communication market is highly competitive due to the increase in implementation of cloud based technologies and developments in the field of internet of things. On the other hand, lack of standardization and continued uncertainty around 4G LTE are major factors hindering the growth of M2M communication market. Also, getting consumers to pay more for enhanced connectivity and need for integrated M2M solutions are other factors that may hamper the growth M2M communications market.

Industry News

Jan 2018 – Sierra Wireless is a solid IoT play for the future. Sierra Wireless makes money by producing 2G, 3G and 3G gateways and embedded modules utilized in machine-to-machine communications, and commands approximately one third of the market space and has utilized a strategy of “growth via acquisition” to boost year-over-year revenues.

Jan 2018 – TRAI mulls policy for M2M communications. Telecom regulator, TRAI has come out with proposals on machine-to-machine communications that include a new kind of permit for companies keen on providing services for this new form of technology.

M2M Communication Global Market - Competitive Analysis

The market of M2M communication appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

M2M Communication Global Market - Segmentation

The M2M communication market can be classified into 4 key segments for the convenience of the report and enhanced understanding;

Segmentation by Technology: Comprises of Wired, Wireless and Hybrid

Segmentation by Component: Comprises of Wi-Fi, Sensors, RFID, and Software among others

Segmentation by Application: Comprises of Consumer Electronics, Healthcare, Retail, Automotive, Utilities, and Home Automation among others

Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

M2M Communication Global Market - Regional Analysis

North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the M2M communication market in North America owing to the presence of a large number of established key players such as Aeris communication. Inc., AT&T, Inc., Cisco Systems Inc., Telenor Group, Intel Corporation, Singtel Group, Texas Instruments, Vodafone Group plc., Verizon Communications, Inc., Sprint Corporation and Telefonica, S.A. among others. Also, U.S. is leading the market in North America due to the rising demand of cloud based services and high-speed networks that enable easy access, analysis and manipulation of stored data transaction to help customers to improve their business operations. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of cloud based applications in the region, the market is likely to show immense growth in the coming future. M2M communication market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2022 due to increasing adoption of smartphones and digital solutions such as smart meters in China and India in the region. Whereas, the Europe market for M2M Communication is expected to grow at a considerable CAGR (2017-2022). Europe is expected to register healthy growth in the machine to machine communication market due to industrial developments as well as infrastructural growth.

Key Players

Aeris communication. Inc. (U.S.), AT&T, Inc. (U.S.), Deutsche Telekom AG (Germany), Cisco Systems Inc. (U.S.), Telenor Group (Norway), KORE Wireless Group (U.S.), Intel Corporation (U.S.), Rogers Communications Canada, Inc. (Canada), Singtel Group (Singapore), Texas Instruments (U.S.), Vodafone Group plc. (UK), Verizon Communications, Inc. (U.S.), Sprint Corporation (U.S.), Telefonica, S.A. (Spain), China Mobile Ltd. (China), Numerex Corp. (U.S.), Sierra Wireless (Canada), and Orange S.A. (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global M2M Communication Market.

Access Complete Report @ https://www.marketresearchfuture.com/reports/m2m-communication-market-1822

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Connected Workplace Market Research Report - Global Forecast to 2022

Global Connected Workplace Market, by Components (Security Systems, Smart Lighting), By Types (Telecommuting, Virtual Team, Hot Desk), By Deployment (On-Premise, On-Cloud, Hybrid), By Applications (Monitoring, Building Automation) - Forecast 2022

Market Highlights

Connected Workplace Market is expected to grow at CAGR of ~11% during the forecast period and expected to reach market size of USD ~31 Billion by the end of forecast period.

Connected Workplace connects all employees to their colleagues and interlinking all tasks by effectively using cloud based applications or mobile devices. This is also supports big data analytics in organization which increases the productivity, customer interaction, thereby generating huge revenue for the firm. The growth drivers for this market include widespread availability of interactive service in the organization which helps in providing information to all the stakeholders of organization, by utilization of tablets, smartphones and laptops and flexible working spaces which help in attracting new talent for the organization. A major challenge in connected workplace is protecting the intellectual property of an organization as the information can be assessed worldwide.

Connected workplace facilitates an organization with free seating and open space arrangement which help a business in easily adopting the changing business needs. Connected workplace leverages technology which satisfies the employees of the organization, leading to high productivity and helps in maintaining quality standards. This also allows an organization to efficiently utilize their workplace investments.

Connected Workplace Market

The Global connected workplace Market has been segmented on the basis of components, types, deployment and applications. Component includes- security systems, smart lighting, HVAC control, and others. On the basis of type, the global connected workplace market can be segmented into telecommuting, virtual team and hot desk among others. Connected workplace can be deployed by using on-premise, on-cloud and hybrid technology methods. The applications of connected workplace can be monitoring, building automation, energy management system, mobile device management and others.

Key Players:

The prominent players in the connected workplace market are- Siemens AG (Germany), Koninklijke Philips N.V. (The Netherlands), ABB Ltd. (U.S.), Deloitte Pvt. Co. (U.S.), Schneider Electric SA (France), Cisco Systems, Inc. (U.S.), Crestron Electronics, Inc. (U.S.), Honeywell International, Inc. (U.S.), Johnson Controls Inc. (U.S.) and United Technologies Corporation (U.S.) among others.

Market Research Analysis:

Market Research Future Analysis shows that the major driver of growth of connected workplace market is increasing adoption of digital innovation by employees of organization. The employees are greatly accepting the concept of bring-your own device (BYOD) which enables them to bring their own laptop or smartphone to work and connect them to the firm’s IT network. The increasing youth population in many regions which is technology savvy is also supporting in promoting the concept of connected workplace. This concept is being majorly adopted by industries such as software companies, educational institutes, consultancy providers, real estate and construction among others. Workspaces are increasingly taking advantage of intelligent building systems, allowing companies to reduce energy costs and personalizing the workspace experience for employees.

Market Research Future Analysis shows that North America is expected to dominate the global connected workplace market owing to presence of many large companies like Deloitte Pvt. Co, Crestron Electronics, United Technologies Corporation, Honeywell International, Inc. and others in the region. The increase in number of OEM operators in North America region would also contribute to the market growth. APAC region is also expected to record a huge growth rate in the forecast period due to rapid industrialization in developing economies like India, and China and is expected to fuel the connected workplace market in the upcoming future.

Access Report Details @ https://www.marketresearchfuture.com/reports/connected-workplace-market

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact

Market Research Future

Phone: +1646 845 9312

Email: [email protected]