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Semiconductor Memory Market size to reach $340 Bn by 2032

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Semiconductor Memory Market size to reach $340 Bn by 2032

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As per the report by Global Market Insights Inc. “Worldwide semiconductor memory market was valued at over USD 160 billion in 2022 and will surpass a revenue collection of USD 340 billion by 2032 with an annual growth rate of 7.5% from 2023 to 2032.”

Several memory chips developed for applications in intelligent machines and virtual reality gadgets by the gaming industry players are being used in gaming hardware. In addition, the growing inclination towards gaming in China and other Asian countries would significantly influence the semiconductor memory market growth in the coming years.

Besides, semiconductor memory offers faster access times compared to other types of data storage, which is further estimated to propel the market demand in the future. For example, a byte of data can be written or read from semiconductor memory in just a few nanoseconds.

The competitive landscape of the semiconductor memory industry is highly intact. The key market players are engaging in new data center establishment, R&D investment, and undertaking mergers, acquisitions, and partnerships to bolster their presence in the industry. For instance, in 2022, Samsung Electronics Co., Ltd. collaborated with NAVER Corporation to develop semiconductor solutions customized for hyper-scale artificial intelligence (AI) models. The newly developed solutions are expected to take large-scale AI performance and power efficiency to a new level.

Overall, the semiconductor memory market is segregated in terms of type, application, and region.

Considering the type, the random-access memory (RAM) segment will demonstrate sturdy growth through 2032, owing to the rising adoption of semiconductors in automotive & electronic systems, such as SRAM, DRAM, and MRAM. Besides, automobile manufacturers are making use of RAMs for everything, right from engine control to lane-change warning, which is slated to bolster its demand in the ensuing years.

Based on application, the aerospace and defense segment will be valued over USD 6 billion by 2032 end. The growth can be attributed to the rising need for memory chips due to ongoing technological innovations in military weaponry. To cite an instance, China’s leaders have made significant investments in technical fields that support artificial intelligence (AI), quantum computing, hypersonic, and microelectronics, with intentions to create a “fully modern” military by 2027.

Regionally, the North America semiconductor memory market was valued at over USD 40 billion in 2022 and is slated to demonstrate massive growth by 2032. The regional growth can be attributed to the developments in automation and digitalization as well as the use of memory-based elements in technically advanced products in the electronics industry in North America. In addition, various central governments are constantly investing in stabilizing the semiconductor industry, which will further offer lucrative growth opportunities over the coming years.

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Transformers Market Size to Reach USD 93 Bn by 2030

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As per a recent industry report put forward by Global Market Insights, Inc. Transformers Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 93 billion by 2032 with a projected CAGR of 7.1% over 2023-2032.

The market growth is driven by the proliferation of advanced transformer technology and the ongoing expansion of the grid infrastructure across the globe.

Recently, industry players in the transformer market have been making significant investments towards infrastructural advancements, which has positively boosted the market growth.

In fact, back in August 2022, Siemens Energy, the German energy giant, announced plans to deliver the first batch of $64 million mega transformers in Nigeria commissioned by the Federal Government under the PPI or Presidential Power Initiative by September 2022. To increase and stabilize the nation’s electrical supply, the first phase will include 10 mobile power sub-stations as well as 10 mega transformers.

The transformer market has been segmented in terms of core, product, winding, cooling, insulation, rating, mounting, application, and region.

Based on product, the sector has been divided into distribution transformer and power transformer. The distribution transformation segment is set to witness a propelling market growth through the forthcoming years owing to the growing concerns about energy security and exponentially escalating energy use in underdeveloped economies.

Also, rapid grid infrastructure growth and accelerated growth in the renewable energy sector created a favorable environment for business expansion.

With respect to cooling, the transformer market has been segmented into dry type and oil immersed. The dry-type segment is anticipated to record a yearly installation of nearly 8 million through 2030 due to the significant attributes of dry-type transformers such as competitive cost structure as well as operational safety.

However, the devices have yet to establish a sustained market share in high-voltage electrical applications, considering their enormous industrial growth potential.

Based on insulation, the industry has been categorized in terms of air, gas, oil, and solid. The air & gas insulated power transformers is slated to grow at a significant rate over the review timeline because of the increasing market penetration due to their reliable and safe operations as well as adaptable product applications.

In terms of application, the transformer industry has been bifurcated into residential, commercial & industrial, and utility. The commercial & residential segment is projected to grow at a sturdy rate through the forecast years credited to the increasing focus on the incorporation of wide-ranging frequency distribution links, combined with rising energy-efficiency concerns. The growing need for ultra-high voltage networks will further fuel product demand.

From the regional front, the Middle East & Africa transformer market is set to register considerable market valuation owing to the lack of grid infrastructure across all the nations and rising power consumption.

The industry outlook will be driven by rising private support from financial organizations like the IFC, the World Bank, and the Asian Development Bank for electrification throughout the area.

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Supply Chain Security Market is Projected to Reach USD 4 Bn By 2032

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The Supply Chain Security Market is set to grow from its current market value of more than $1 billion to over $4 billion by 2032; as reported in the latest study by Global Market Insights, Inc.

Supply Chain Security Market is anticipated to grow rapidly over 2023-2032 owing to the increasing emphasis on resolving supply chain challenges and overcoming disruptions caused due to various natural and un-natural interventions. Supply chain security is increasingly gaining traction owing to the rising complexity of supply chains, global trade, and the increasing threat of cyber-attacks.

In addition, increasing adoption of cloud-based solutions will also favor the industry outlook. Various companies across the globe are migrating their operations to cloud-based platforms, owing to which the need for secure and reliable cloud-based supply chain solutions has been gaining the utmost importance. Besides, the solutions offer greater flexibility, scalability, and cost-effectiveness, making them an ideal choice for businesses looking to streamline their supply chain operations.

Overall, the supply chain security market is segmented in terms of component, service, security, organization size, end-user, and region.

Based on the component, the software segment will hold a considerable share by 2032. Increasing adoption of cloud-based solutions by several industries as it offers greater flexibility, scalability, and cost-effectiveness than traditional on-premises solutions will favor industry growth.

By service, the integration and deployment service segment will gain strong momentum by 2032 owing to the increasing deployment of security measures to mitigate inefficiencies in business operations. Moreover, the increasing incidences of supply chain cyberattacks will propel the demand for integration and deployment services during the forecast timeline.

Considering security, the data visibility & governance segment will register notable gains by 2032. The segmental growth will come from the surging adoption of various security and compliance-related services and solutions that empower organizations to handle the data carefully and manage the risks associated with supply chain security.

In terms of organization size, the large enterprise segment will be valued at over USD 3 billion by 2032. Increasing adoption of AI and IoT applications across large enterprises is anticipated to favor the industry outlook.

By end-user, the healthcare segment is expected to be influenced during the analysis period 2023-2032. Increasing the deployment of smart devices and automation to combat supply chain issues will help the segment to grow.

Regionally, the Asia Pacific supply chain security market will exhibit 10% CAGR through 2032. Increasing collaborative efforts between market players and government regulators in countries such as India, China, and Japan will increase the regional market share. In addition, countries such as Singapore have introduced different plans and policies to support data privacy; such advancements are anticipated to boost rapid innovation and advancement of supply chain security solutions across the region.

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Time-Sensitive Networking Market size to reach $1.5 Bn by 2032

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As per the report by Global Market Insights Inc. “Worldwide Time-Sensitive Networking Market was valued at over USD 300 million in 2022 and will surpass a revenue collection of USD 1.5 billion by 2032 with an annual growth rate of 1.5% from 2023 to 2032.”

Time-Sensitive Networking Market is anticipated to showcase sturdy growth through 2032, owing to the rising need to enhance business productivity and alleviate the production cost across enterprises. Besides, TSN has been gaining huge traction in industrial automation owing to the rising penetration of the IIoT (Industrial Internet of Things). Some of the key benefits offered by time sensitive networking includes bandwidth, security, interoperability, latency, and synchronization.

Overall, the time-sensitive network market is segmented in terms of component, solution, service, application, and region.

Considering the components, the TSN service segment is slated to showcase lucrative growth through 2032. The growth can be credited to the product attributes such as ease of network configuration, secure networks, reduced system costs, and future enhancements. Besides, a lack of experience and expertise related to TSN technology among the enterprises will also play a key role in benefiting the industrial growth.

Based on the solution, the switches segment held over 60% market share in 2022. The increasing adoption of TSN technology across sectors such as utility, automotive, and IIoT would prompt the market demand throughout 2023-2032. Moreover, TSN switches are ideal for making manufacturing networks compatible, are equipped with Ethernet and fiber-optic ports, boasts of a compact design and user-friendly configuration interfaces, and support real-time communication.

By service, the professional service segment acquired over USD 35 million market share in 2022. Rising demand for TSN professional services due to the mounting adoption of industrial automation across enterprises and increasing need to reduce and offer robust infrastructure for deploying TSN technology will favor the segmental growth by 2032.

Considering the application, the industrial automation segment held over 30% market share in 2022. The increasing adoption of industrial IoT for various applications would stimulate the product demand through the coming years. According to credible reports, over 75 billion devices are predicted to be connected via the Internet of Things (IOT) by 2025.

Regionally, the North America time-sensitive networking market was valued at over USD 150 million in 2022. The rising adoption of automation tools and Industrial IoT (IIoT) that empowers businesses to automate their processes is a key factor driving regional growth. In addition, constant industrial automation will also act as a key factor supporting the demand for TSN solutions in North America.

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Infrastructure as Code (IaC) Market Size to Surpass US$ 1.9 Bn by 2030

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As per the report by Global Market Insights, Inc. “Worldwide Infrastructure as Code (IaC) market was valued USD 450 million in 2021 and will surpass a revenue collection of USD 3.5 billion by 2030 with an annual growth rate of 25 % over 2022 to 2030.” 

The infrastructure configuration is stored in electronic files, and software is responsible for setting up infrastructure changes, reducing the possibility of human error. Tech players and software developers globally have been undertaking several R&D projects focused on developing composable infrastructure. The development of composable infrastructure aids in the streamlining of operations, scaling of resources, and increasing built-in data protection and recovery. The modular infrastructure provides a cloud-like experience for the provisioning of on-demand hardware and software resources.

The Infrastructure as Code (IaC) industry is classified based on approach, organization size, deployment model, infrastructure, end-use, and region.

Regarding the approach, the declarative segment is anticipated to account for a significant market share by 2030. Declarative languages offer greater agility, extensibility, and productivity than imperative languages, bolstering their adoption across the globe. This approach enables developers to illustrate convoluted programs in a compressed form and outline solution models more quickly due to its high level of extraction, increasing the segment share between 2022 and 2030.

The SMEs segment is expected to hold a significant revenue share by 2030. The massive growth in enterprise data led by the ongoing digital transformation and the increasing focus on improving the overall customer experience will back the segment growth over the forthcoming years. The escalating requirement across organizations to increase scalability, agility, and resilience to boost the existing technological landscape and enable businesses to operate more efficiently will drive the demand for IaC services across SMEs.

The cloud deployment model is anticipated to gain considerable popularity over the next 8 years. This can be attributed to the increasing number of enterprises transitioning toward digitizing their workloads and the rising investments in IT infrastructure. The expanding remote workforce and the accelerating demand to introduce more secure, reliable, and scalable software solutions will augment the demand for cloud-based IaC solutions in the forthcoming years.

The BFSI segment is set to amass substantial valuation by the end of 2030 depicting a considerable growth rate in the 8 years. The rapid surge in digital payments globally has escalated the requirement for a more robust and secured IT infrastructure and efficient fraud detection mechanism to help protect customer credentials. The integration of IaC software across banking and financial organizations enhances overall security while diminishing the prospects of potential cyberattacks, thereby increasing their adoption through 2030.

Regionally, the Europe Infrastructure as Code market held over 27% market share in 2021 and is likely to record a sizeable valuation by 2030. The regional growth is credited to the robust economic outlook and proliferation of advanced technologies pushing the need for a better technological landscape. The increasing penetration of internet services and the evolving workplace requirements will drive IaC industry trends across Europe.

The Infrastructure as Code (IaC) market consists of Amazon.com, Inc., Microsoft Corporation, Google LLC, IBM Corporation, HashiCorp, Inc., Oracle Corporation, Puppet, Progress Software Corporation, Pulumi, and others

 

 

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Cloud Data Center Market Size to Reach $70 Bn by 2032

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As per the report by Global Market Insights Inc. “Worldwide cloud data center market was valued at over USD 20 billion in 2022 and will surpass a revenue collection of USD 70 billion by 2032 with an annual growth rate of 10% from 2023 to 2032.”

The growth of e-commerce and online services is expected to drive significant growth in the Cloud Data Centre Market until 2032. The rise in online shopping has presented numerous growth prospects for e-commerce platforms. Leading online retailers like Amazon, Alibaba, and Flipkart have adopted hybrid data cloud centers to oversee sales, save customer data, and monitor other business operations. This adoption is expected to fuel the expansion of the market.

The cloud data center market is categorized based on service, deployment model, organization size, end-user, and region.

Infrastructure-as-a-Service (IaaS) segment is expected to exhibit growth until 2032, based on its service. The segment’s growth can be attributed to the increasing preference for IaaS, which provides users with more flexibility to build computing resources as needed and resolves data traffic issues. Moreover, IaaS allows users to access cloud servers and storage directly through any mobile device, further contributing to the segment’s growth.

In terms of deployment model, the private cloud data center segment is expected to gain traction in the coming years, as it enables a single user to access data from anywhere, at any time. Private cloud data centers are also preferred by the BFSI industry due to their high-end security and on-premises data center storage.

Small- and medium-sized enterprises (SMEs) are anticipated to drive significant demand for cloud data centers based on organization size. SMEs are increasingly adopting cloud data software to manage data in one location and meet business requirements. Additionally, storing data on the cloud helps to reduce infrastructure and labor costs while saving time.

The colocation segment is expected to experience noticeable growth by 2032 based on end-users. Colocation involves customers transferring servers and hardware into a data center with internet connection, power, cooling, and security systems. Moreover, increased investment and innovation to support cloud software applications in the colocation segment is driving market growth.

In terms of region, the Asia Pacific cloud data center market is projected to exhibit a CAGR of over 30% from 2023 to 2032. Advancements in AI and IoT in various countries such as India, China, and Japan are expected to have a positive impact on the industry outlook. The cloud market in Japan is growing due to the ongoing system migration from on-premises to cloud-based systems and increased demand for cloud-oriented systems.

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Inventory Management Software Market is Projected to Hold US$ 6 Bn By 2032

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The Inventory Management Software Market is set to grow from its current market value of more than $3 billion to over $6 billion by 2032; as reported in the latest study by Global Market Insights, Inc.

Inventory Management Software Market is anticipated to grow through 2032 owing to its capability of empowering users to track the complete asset lifecycle from procurement to retirement. In addition, inventory management software offers several benefits, such as improved visibility, fewer errors and discrepancies, fewer stockouts, efficient operations, reliable inventory planning and forecasting, and the ability to add new sales channels easily.

Besides, with constantly increasing investments in the manufacturing sector, the firms are adopting inventory management software to improve production planning, enable multi-channel integration, and gain more visibility of profits and margins in line with reducing operational costs.

In addition, the key providers in the market are also seeking to strengthen their foothold in the marketplace by expanding their portfolios and entering valuable mergers and acquisitions. Citing an instance, in January 2023, Albertsons launched a new inventory management system across banner stores. This rollout was supported by Afresh, the fresh food technology firm, and will assist store teams to plan better for the fresh production of food items, reduce food waste, and gather valuable data through their software.

Overall, the inventory management software industry is segmented in terms of type, application, deployment model, organization size, end-use, and region.

Considering the type, the manually managed inventory system segment held over 30% market share in 2022. Since manually managed inventory systems process simple computations related to inventory management, and complex calculations depend largely on the formulas entered by users, they are being increasingly adopted by small businesses.

Based on application, the asset tracking application segment is anticipated to witness considerable growth through 2032, as it helps improve asset inventory accuracy while reducing asset auditing efforts. Asset tracking also helps in cost savings owing to unnecessary equipment losses, labor costs, and subsequent duplicate purchases.

By organization size, the SME segment held over 60% market share in 2022. SMEs can leverage modern inventory management software to streamline their storage and distribution operations and gain a competitive advantage, which will augment the market demand during the next decade.

Regionally, the North America inventory management software industry was valued at over USD 1 billion in 2022 and is anticipated to register notable gains through 2032. The regional growth can be attributed to the increasing popularity of omnichannel retailing and the rapidly expanding e-commerce industry. As per reports, the total sales from the e-commerce section in the USA was USD 959.5 billion in 2021, which increased by 18.3% from 2020’s sales volume of USD 811.6 billion.

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Innovation Takes Center-Stage as the Electronics Sector Witnesses Proliferating Demand for Molded Pulp Packaging 

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In light of these trends, Global Market Insights Inc., states that the global molded pulp packaging market may to amass $7.3 billion in annual revenue by 2032. 

In an era defined by sustainability, the demand for renewable, clean, recyclable, and biodegradable products has increased across several sectors, most notably the packaging industry. In effect, plastic packaging, which has formed the crux of this sector for a remarkably long time, is now undergoing significant changes with respect to design, manufacturing, and deployment. To that end, the molded pulp packaging market is garnering increasing attention lately, mainly due to its environmentally friendly benefits.

Molded pulp has emerged as a strong sustainable packaging contender. This kind of packaging is designed with round corners and complex three-dimensional shapes for securely protecting the end products. It is produced from fibrous materials, comprising recycled paper, and cardboard among other natural fibers, and is recycled again following its useful life cycle. 

The rapid strides in the food industry are paving the way for sustainable packaging as companies strive to ensure the safe handling and distribution of processed and fresh food products through diverse supply chains. This has led to rising exploration and advancements in the molded pulp packaging market. Lately, the increased intake of eggs from chicken, duck, goose, and quail has pushed the volume of egg transportation, driving the need for egg-shaped curved structures. Consequently, molded pulp egg trays and cartons are gaining traction, driven by benefits such as better ventilation, freshness, preservation, and cushioning. 

The molded pulp packaging industry is extensively supported by the growing number of initiatives actively undertaken by several leading manufacturers to meet the growing industrial requirements. The product is made from paper-based mono-materials and is part of the firm’s swiftly expanding portfolio of Better Planet Packaging that renders sustainable alternatives to the present-day single-use plastic solutions.

Mold pulp clamshells to record significant packaging uses across multitude of industries

The collective inclination toward enclosed retail packaging containers is increasing the demand for molded pulp clamshells for packaging products, like eggs, electronics and appliances, and industrial parts. Clamshells not only offer a sturdy covering to encapsulate products, comprising beverage bottles and medical supplies & components, but also eliminate the need for extra assembly using tape and lids.

In a bid to effectively hold food items for both takeout and point-of-service uses, molded pulp packages are reinforced with the ability to resist water and oil penetration. Rapid advancements in the food service industry have thus led to a rise in the demand for pulp-based thermoformed clamshells, favoring the molded pulp packaging industry expansion.

Lately, OEM molded paper pulp clamshell is increasingly deployed for the packaging of tube jars. The rising number of research activities is also paving way for innovations in these packaging solutions. 

Electronics sector to emerge as a prominent revenue hub for the molded pulp packaging industry

Considering the increasing call for eco-protection, leading contenders in the electronics sector are placing their bets on sustainable packaging solutions made from natural resources like recycled paper, as a go-to option for the shipping of goods and fragile gadgets. Lately, compostable pulp has also surged in popularity to cater to more environmentally friendly packaging needs. 

Custom molded pulp packaging is not only robust but also prevents damages caused by static or dust abrasion, in turn becoming a strong contender for shipping electronics. These solutions are hence used for various fast-moving and consumer durable goods to offer protection and eliminate the chances of commodity breakage from storage to transportation. Pulp molded cushioning, owing to its good plasticity and buffering, is also witnessing soaring demand as edge protectors and pallets in handling and shipping applications for most electric appliances. 

Molded pulp packaging market – The Road Ahead

In the forthcoming years, molded paper pulp is likely to remain at the forefront of the packaging sector. The requirement for this product is increasing across varied segments, as innovative as nutrition pots and flower containers, given that it offers the benefit of self-degradation. Rising technological advancements and the influx of various painting techniques have made way for more sophisticated packaging that has smoother surfaces to impart stylish apparency. 

For instance, in October 2020, HP introduced a new 3D printing-related tooling technique for molded pulp for both molded fiber packaging manufacturers and their customers. As the need for visual appeal gains more importance than ever, several global consumer brands, like Apple and PUMA, are also expected to come up with distinctive and elegant retail packaging with molded pulp.

 

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Location Analytics Market to Exceed USD 75 billion By 2032

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The Location Analytics Market is set to grow from its current market value of more than $18 billion to over $75 billion by 2032; as reported in the latest study by Global Market Insights, Inc.

Location Analytics Market is slated to demonstrate massive growth through 2032, owing to the rising demand for geographic predictive analytics for the prediction of maintenance needs, production deadlines, and infrastructure assessment. Location analytics services are slated to emerge as one of the most crucial aspects of marketing for enterprises, which is expected to drive the market share.

The industry growth is likely to be compromised by the lack of regulatory norms and regulations. Nevertheless, the rising importance placed on location-based data to support business decision-making and the necessity to gather more information is anticipated to offer several growth opportunities for the market development.

Overall, the location analytics market is divided in terms of component, solutions, services, location positioning, application, industry verticals, and region.

Based on component, the solution segment held over 55% market share in 2022 and is slated to grow exponentially through 2032. This can be credited to the rising demand from enterprises for sophisticated location-based solutions for diverse application requirements.

By solution, the thematic mapping and spatial analysis segment accounted for more than 20% market share in 2022 and is projected to gain considerable impetus by 2032. The growth can be attributed to the limited capabilities offered by these maps to visualize the geographical distribution of the earth’s surface corresponding to business information. Ongoing innovations and partnerships in the space would further supplement the product demand. For instance, in 2022, India’s Geospatial Energy Map by the NITI Aayog collaborated with ISRO to identify and locate all primary and secondary energy sources coupled with their transportation and transmission networks.

In the context of service, the professional service segment is expected to register notable gains during 2023-2032, as the key players operating in the industry offer consulting services that assist clients in achieving their goals and support them in putting such platforms in place.

Considering the location positioning, the outdoor positioning segment will demonstrate sturdy growth through 2032, owing to the surge in deployment of location analytics solutions to map business assets across the outdoor environment.

In terms of the application, the risk management segment held over 20% market share in 2022 and will grow considerably as location analytics solutions help enterprises evaluate risk concentrations.

By industry verticals, the IT & telecommunication sector is expected to depict over 15% CAGR by 2032. Location analytics help IT and telecom companies collect geographic information and offer context-based information for infrastructure optimization, service improvements, and much more, which is slated to augment the demand for location analytics in the industry.

Regionally, the North America location analytics market is depicted to showcase considerable growth through 2032, owing to the burgeoning use of social media search engines and location-based applications among individuals in the region. In addition, the growing adoption of spatial data and analytical tools by industries across the region will further support the growth of the location analytics industry.

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Edge AI Market Expected to hit US$70 Bn by 2032 

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As per the report by Global Market Insights, Inc. “Worldwide Edge AI market was valued USD 5 billion in 2022 and will surpass a revenue collection of USD 100 billion by 2032 with an annual growth rate of 35% over 2023 to 2032.”

Global Edge AI Market size is predicted to expand considerably throughout the forecast period 2023 to 2032 due to the rising consumer inclination towards smart homes.

Integration of supports monitoring of temperature, gas density, humidity, and home security. Increased customer expectations and a rise in the availability of such advanced gadgets are predicted to boost the market share for edge AI. Furthermore, the growing demand for consistent data access and low latency across industries is fueling the need for powerful infrastructure. Using technologies, businesses can achieve significant cost and performance savings.

In April 2021, multinational technology company, Intel, introduced third-generation Xeon scalable CPU which allows for the implementation of a flexible and scalable infrastructure. It can enhance workloads related to 5G, AI, and other high-performance computing, network security, and clouds.

Moreover, the increased acceptance of remote working since the COVID-19 outbreak is another factor influencing the industry’s growth. Edge AI enables businesses to securely grant access of internal resources to their distant workers. Additionally, it lowers the price and maintenance expenses related to physical network infrastructure.

Based on component, the services segment of the market is anticipated to grow at a rapid pace during the forecast period resulting from the global development of edge-based technology. Further, the subdivisions comprising training and consulting, system integration and testing, and support and maintenance make up the service market segment.

Due to the rising demand for dependable and low-latency data access throughout all companies, the system integration and testing segment will continue to expand. Furthermore, the expansion of the support and maintenance segment is attributed to its capacity to help organizations give speedy remote assistance for reducing network outages which will boost the overall market share.

In terms of end user, the government segment is anticipated to exceed USD 3 billion by 2032 owing to the increasing adoption of helping government offices to consolidate and centralize their IT resources to enable users to access the system anytime from anywhere. The growing digitization and need for robust wireless connectivity across government agencies are fueling market growth. For instance, MEA governments are digitalizing all of their departments and services, improving their infrastructure, and providing new services like e-applications that speed up administrative processes.

Depending on application the market the segmented as video surveillance, remote monitoring, predictive maintenance, and other segments. The adoption of telemetry in the healthcare industry is covered in the other category. This technology aids in the automatic detection of abnormalities in the operation of telemedicine devices. Telemetry in medical equipment also helps with patient management, diagnosis, and treatment from a distance. Such a wide range of edge AI applications will promote industry growth.

Regionally, the Middle East edge was valued at over USD 500 million in 2022 as several telecom operators are increasingly emphasizing on trials and deployment of 5G across the region accelerating revenue growth. Soaring demand for edge computing and data centers owing to the development of smart cities in Saudi Arabia and the UAE has led to massive investments in the IT sector, especially in GCC countries like Saudi Arabia, the UAE, and Qatar will push the market growth further.

The Edge AI market consists of Anagog Ltd., Amazon Web Services (AWS), Dell, Google (Alphabet Inc), Gorilla Technology Group, Huawei Technologies Co., Ltd., IBM Corporation, Imagimob AB, Intel Corporation, Microsoft Corporation, MediaTek Inc,