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Significant Factors Fueling Asia Pacific Material Handling Equipment Market forecast up to 2027

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Significant Factors Fueling Asia Pacific Material Handling Equipment Market forecast up to 2027

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According to a recent study from market research firm Graphical Research, the Asia Pacific material handling equipment market will observing healthy growth during the forecast timeframe, with continued expansion across the healthcare, automotive, and manufacturing sectors. An upsurge in demand for global manufacturing organizations to automate processes and facilitate efficient flow of goods is one of the primary drivers of the market. 

Asia Pacific material handling equipment market size is projected to reach beyond $80 billion by 2027. Fives Group, Dearborn Mid-West Company, JBT Corporation, Honeywell Intelligrated, Hyster-Yale Materials Handling, Inc., and KION Group AG are counted amongst the leading companies operating in the region. Material handling equipment is being used in the following industries, in each of which it serves a distinct function:

  • Healthcare & pharma 

According to the India Brand Equity Foundation (IBEF), pharmaceutical business supplies more than half of the worldwide demand for various vaccines. With rising threat on various infectious disease spread, the healthcare industry has been working around the clock in R&D to ensure global health security. 

The recent COVID-19 pandemic created havoc around serval industries, including the pharmaceutical. To meet rising drug & vaccine demands on such a large scale, manufacturers such as Dr. Reddy’s Laboratories & Sun Pharmaceuticals capitalized the features of innovative material handling equipment. The industry is mostly dependent on a complex system of conveyors. As per estimates, APAC material handling industry share from the healthcare & pharmaceutical sector will observe healthy growth through 2027.

  • Automotive 

Asia Pacific hosts leading players such as Nissan Motor Co., Ltd., Toyota Motor Corporation, Honda Motor Company, and Mitsubishi Motors Corporation in its well-established automotive industry. Material handling equipment serves a host of purposes in this industry, ranging from heavy-duty conveyors to overhead cranes for carrying hoods, seats, gearboxes, engines, and other components. 

As part of its array of material handling equipment and solutions, Toyota Industries Corporation unveiled 22 new electric models to the material handling equipment market in January 2022. These new versions have four different operator compartments, a multi-directional design for managing lengthy loads in tight spaces, and high-capacity variations with a maximum fork height of 45 feet.

  • E-commerce

The global COVID-19 pandemic resulted in a spike in e-commerce activity across Asia Pacific. As lockdowns became the new normal, both, customers & businesses gradually went digital, providing and purchasing more products and services online. 

To satisfy these rising demands the e-commerce industry has adopted a variety of industrial lifting equipment and other tools for moving products and goods from one section to the other. Automated modular conveyors, loading and unloading conveyors, and monorail overhead cranes are employed to optimize the order fulfillment process. 

According to the International Trade Administration, Australia’s e-commerce revenue is expected to reach $32.3 billion by 2024, representing a 15.5% Y.O.Y growth. These statistics have motivated e-commerce giants such as Amazon, eBay, and Woolworths to deploy innovative material handling technology in their distribution hubs to ensure on-time delivery. The expanding use of warehouse automation to improve material handling processes and maximize uptime is likely to drive the Asia Pacific material handling equipment market expansion.

transformer Rickmers set record for prohext shipments of export cargo and import cargo in international trade from Croatian port.
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North America Transformer Market: Top Trends Augmenting the Industry Size up to 2027

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According to a recent study from market research firm Graphical Research, the North America transformer market size is set to register a significant growth during the forecast timeframe, as the federal investments in the development and implementation of renewable sources of energy are increasing. The regional governments are encouraging companies to come up with methods that help create better and more efficient electricity infrastructure.

Industrialization is happening at a robust rate in North America. As a result, the regional authorities have placed strict rules with respect to the renovation of the existing electric grid structure to support the increasing power consumption. The production of electric vehicles is seeing an upward trend in the region, thereby increasing the installation of transformers to power the electric vehicle charging stations.

The following trends will foster North America transformer market outlook over 2021-2027:

Power transformers to cater to rising electricity demand:

Power transformers are projected to gain a lot of traction in North America as the installation of power generation units is growing in the region. These units will play a vital role in catering to the rising electricity demand from industries and residential areas.

Many companies in the region are now switching to electric systems with extra-high voltage supplies. These systems will be used in areas where power is consumed on a large scale. Power transformers will be extensively used to not only provide high-voltage electricity but also to stabilize its supply during fluctuations and peak hours.

Outdoor transformer installations gain momentum:

Governments in North America are spending a lot of money on building advanced electric infrastructure that caters to the rising electricity demands of the regional population. This is one of the important features contributing to the increased installation of transformers in outdoor locations. They have a wide range of applications across heavy-duty and high-voltage activities in various industries. They are quite reliable and take up lesser space when installed.

High use of air-insulated transformers:

North America industry share from air-insulated transformers will grow at a notable rate as the adoption of renewable sources of energy for power generation is picking up pace in the region. The authorities are introducing strict norms with regards to the permissible emission levels from factories. The need for refurbishing the aging grid networks is growing steadily. All these factors will foster the use of air-insulated transformers.

North America is witnessing the expansion of microgrid networks as they help in regulating the voltage and flow of electricity and offer powerful electric backup in case of power cuts. Some of the useful features of air-insulated transformers are that they are easy to install and offer efficient cooling systems during extreme heat conditions. In case of any spillage, these transformers are easy to clean as well.

Three-phase transformers have high application:

There are many factories in North America that have large-scale production lines and it is important to keep these processes running for a long period. This is where three-phase transformers will be highly adopted by the factory owners as they have the capacity to withstand increasing load and can provide adequate electricity during peak hours.

These transformers will be widely used during the refurbishment of the existing grid infrastructure in North America. The product has a longer shelf life as compared to its counterparts and will be useful in keeping up with the rising electricity demand from regional consumers.

Well-known organizations across North America, such as Hitachi ABB Power Grids, Northern Transformer, SPX Transformer Solutions, DOS Canada, Schneider Electric, Siemens, and several others are developing smart transformers that are highly efficient as they use lesser electric sources to generate maximum power for factories in the region. They are increasing their investments in various research and development activities to make use of naturally available energy sources. This will help generate power that doesn’t have any negative side effects on the environment.

North America transformer market trends have shown great progress as there is a wide product variety to choose from such as distribution, power, and instrument transformers. Different types of insulations are being used which include solid materials, gas, oil, and air. Industrial, utility, residential, and commercial end-users will install both three-phase and single-phase transformers on a notable scale to fulfill the varying electricity demands.

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Fertilizer Market: Top Trends Boosting the Industry Revenue Through 2028

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According to a recent study from market research firm Graphical Research, the global fertilizer market size is set to register a significant growth during the forecast period, owing to rising global food demand. Have a look at the key trends that are likely to stay prevalent in the industry through 2028:

  • U.S. records soaring organic fertilizer sales 

U.S. organic fertilizer market size is estimated to grow with a CAGR of over 4% through 2028. As people become more aware of their lifestyle choices and their associated health risks, they are consuming more fresh farm goods. 

Especially after the recent coronavirus outbreak, there has been a higher interest in products that are infused with immunity boosting characteristics, including functional fruits and vegetables. To that end, leading fertilizer companies have been increasing the production of organic products that have minimal negative impact on soil quality. 

To satisfy growing healthy food demand, farmers are increasing the use of organic fertilizers in agriculture. The region is capitalizing on organic fertilizers as an effective alternative to combat climate change. The U.S. government is also implementing various initiatives to promote the use of organic fertilizers as they do not pollute the environment.

  • Fresh investment in fertilizer production in North America

Due to ongoing tensions with Ukraine, Russia, one of the top fertilizer suppliers, has suspended fertilizer exports beginning in February 2022. As a significant importer of foreign fertilizer, the United States suffered as a result of this decision.

To address rising fertilizer costs and shortages caused by the conflicts, in March 2022, the U.S. Department of Agriculture (USDA) announced that it will support additional fertilizer production for American farmers. Through a new grant program of $250 million, the USDA aims to support innovative, independent, and sustainable American fertilizer production. 

  • Dry form of fertilizer garners wide acceptance in North America 

North America fertilizer market revenue from the dry form segment is expected to be worth over $24 billion by 2028, owing to its slow-release rate, which allows crops to be fed for a longer period of time. Dry fertilizer offers the benefit of more storage time than some liquid counterparts without the concern of settling out over time. 

They are usually cheaper in bulk, and a better option for fertilizing fields when preparing for planting, as the nutrients stay present for longer. These products may also be used to make various blends by combining different granular fertilizers in the right quantities to generate the needed mix. 

  • Malaysia market outlook appears to be optimistic through 2028

With agriculture and plantation being two key sectors generating significant profits in the country, Malaysia inorganic fertilizer market size is expected to showcase remarkable growth up to 2028. Thanks to the presence of reputed organizations such as the Fertilizer Association of Malaysia (FIAM), regional market participants have been able to strengthen their position both internationally and locally. 

The nation has been attempting to reduce commodity imports such as rice. To alleviate rice shortages, Malaysia’s Minister of Agriculture and Food Industries said in September 2021 that the regional rice buffer stock will be raised to around 290,000 metric tons by 2023.

  1. Horticulture activities gain traction across Asia Pacific 

The Europe fertilizer market share from horticulture segment is expected to grow with an appreciable pace through 2028. Regional governments have been supporting the horticulture sector by sanctioning incentives, subsidies, and funds. In June 2022, to strengthen the horticulture sector in the Indian province of Haryana, the state government authorized Japan International Cooperation Agency’s funding of about $328 million. With this agreement, the local market will meet consumer demands while also assuring enough fruit and vegetable exports.

  • Europe’s thriving agriculture sector powers market growth 

The Europe fertilizer market share from agriculture will see considerable expansion until 2028. Farmers have been looking for ways to enhance efficiency throughout their fields to satisfy rising food demand. 

Successful use of better technology, such as precision fertilization, has been one of the most effective means of enhancing agricultural output. Fertilizer use on farms has not only added nutrients and energy to cropping systems, but it has also contributed to an increase in annual crop yield. 

  • Significant investments to drive Germany fertilizer market forecast

Germany industry size is expected to grow with a 2% CAGR through 2028. In order to fulfill future food demands, Europe has established the Feeding Life 2030 initiative, which aims to enhance fertilizer efficiency and raise fertilizer awareness. Such programs will not only assist Europe in meeting future food demands but will also encourage effective fertilizer usage throughout the region.

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Passive Fire Proofing System Market: Top Trends Propelling the Industry Demand Through 2027

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According to a recent study from market research firm Graphical Research, the passive fire proofing system market size is set to register a significant growth during the forecast timeframe, attributed to rising cases of fire accidents. People are becoming aware of the importance and benefits of fire safety practices and are installing fire protection systems to prevent mishaps. Below mentioned is a detailed list of trends that will positively impact global industry forecast:

  • North America (regional valuation to hit USD 9 billion by 2027)
    Fire doors will gain momentum in demand:
    Fire doors will account for a major share of North America passive fire proofing system market by 2027. The reason behind the high demand for these products is their ability to provide long-term safety to any building. They are commonly used at entry and exit points so that the fire does not go out of control. Fire doors can also significantly reduce the overall structural damage by minimizing the spread of smoke and flames to untouched areas. Apart from fires, they also offer protection from break-ins.

Institutional and residential constructions to pick up pace:

Institutional & residential construction projects are being carried out on a large scale across the region due to rapid urbanization. It has prompted customers to demand fire safety devices to equip themselves for fire incidents. The growing awareness regarding the advantages of installing passive fireproofing systems across institutes will push their adoption.

  • Europe (regional valuation will cross USD 7 billion by 2027) Fire-resistant glasses will be widely demanded by customers:

Fire-resistant glasses captured around 14.5% of Europe passive            fire proofing system market share in 2020. The products offer                long-term protection to structures and people and prevent fire              from spreading to other areas. They are mainly used in building           entrances and glass partitions, doors, and are highly durable, safe,       efficient in temperature radiation, and require low maintenance.

Extensive use of passive fireproofing products in commercial spaces:
The regional commercial end-users will reach USD 5 billion revenue by 2027. The construction sector of Europe is expanding at a substantial rate due to urbanization, economic growth, and rising income levels of the regional population.

Real estate developers are increasing their focus on including fire safety systems to ensure their clients’ security. Since fire-related incidents are on the rise across the region, governments have
introduced a strict regulatory framework, further propelling the adoption of passive fireproofing systems.

Governments will take on large-scale infrastructure projects:

Large-scale infrastructure projects, such as airports and hospitals in Brighton, Luton, Manchester, and Birmingham are offering strong support to the region’s construction sector. Customers are gaining a better understanding of the significance of installing passive fireproofing systems in homes. Also, fire accidents cause severe loss of life and property; this factor will upscale the production of these devices.

  •  Asia Pacific (regional valuation will reach USD 6.5 billion by 2027) Structural steel protection products will gain traction:
    The structural steel protection segment occupied 25% of Asia Pacific fire proofing system market share in 2020. These systems can keep steel structures safe from fire accidents and improve their overall strength. Since steel structures are used in a variety of construction projects across the region, the demand for passive fireproofing devices to protect these components will rise.

Robust adoption of fire-resistant walls’ floors:

APAC industry size from fire-resistant walls’ floors will exhibit a 5% CAGR through 2027 because these products can reduce the flame, toxic gases, and smoke during a fire. The walls can provide high security to buildings and people in a fire mishap. The flames can be extinguished easily, making it easier to bring the fire under control.

China passive fire proofing system market share will grow:

China industry revenue will exceed USD 3 billion by 2027 as the nation has one of the biggest industrial and construction sectors in the world. It has also enforced several stringent rules and regulations for fire safety, which is one of the major factors enhancing product adoption.

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U.S. Oil Filled Distribution Transformer Market revenue to grow exponentially till 2027

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According to a recent study from market research firm Graphical Research, the U.S. oil filled distribution transformer market will gain remarkable momentum during the forecast timeline due to the robust concerted effort to renovate and upgrade electricity grid infrastructure. Favorable government regulations for the grid infrastructure refurbishment and the development of smart cities will expedite the deployment of different transformers.

End-users will exhibit profound traction for oil-filled transformers as they are more efficient and have a longer service life. High-income countries such as the U.S. are poised to invest in transmission and distribution networks and renewable-based power generation plants. A rising inclination for oil filled distribution transformers is partly credited to low repairing costs and the need for cleaning and inspection. According to an estimate, the U.S. oil filled distribution transformer market size will witness a commendable gain through 2027.

The commercial sector is expected to exhibit traction for pad-mounted oil filled distribution transformers considering the low installation cost, improved safety and aesthetics. A renewed focus on R&D activities in the energy sector and applications in indoor installations, such as malls and complexes will bolster the trend for pad-mounted transformers. Pad-mounted oil filled distribution transformer will account for a notable share of the U.S. market over 2021-2027.

Lately, the growth prospect of autotransformers will be noticeable on the back of the integration of innovative monitoring technologies. These transformers will be sought across energy applications to interconnect systems at various voltages. U.S. oil filled distribution transformer industry share from autotransformers is forecast to grow at a robust CAGR through 2027.

End-users are likely to show interest in >1 MVA distribution transformers following the integration of renewable energy establishments and the growth of distribution networks. Expansion of medium voltage (MV) distribution energy networks will augur well for the deployment of oil filled distribution transformers. Moreover, public and private organizations will continue to seek >1 MVA oil filled distribution transformers.

Closed core transformers are expected to gain upticks from the growth of T&D networks and increased demand for energy efficiency and voltage optimization.  Besides, digitization for monitoring and controlling operations will boost grid stability. U.S. oil filled distribution transformer market share from closed core segment will grow at a significant rate during the forecast period.

Amidst the shifting landscape of distribution transformers, both well-established players and new entrants are likely to emphasize product launches and innovations. To illustrate, in April 2021, Siemens Energy rolled out edge transmission products to digitize power transmission assets in the substation. Key vendors in the U.S. oil filled distribution transformer industry are Siemens Energy, Toshiba Energy Systems & Solutions Corporation, Hitachi ABB Power Grids, Schneider Electric, DOS Canada, MGM Transformer Company, Northern Transformer, Eaton and General Electric, among others.

Stakeholders in the U.S. oil filled distribution transformer market are likely to inject funds into renewable electricity and energy transformation projects. Adoption of digital solutions, along with the need for decarbonization, is likely to bolster growth potentials in the distribution transformer landscape. Prominently, the upgradation of power networks will open new possibilities for grid operators.

Source: https://www.graphicalresearch.com/industry-insights/1943/us-oil-filled-distribution-transformer-market

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North America’s Wholesale Voice Carrier Market Size to Surpass US$8 Billion by 2026

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According to a recent study from market research firm Graphical Research, the North America wholesale voice carrier market size is set to register significant growth during the forecast timeframe. One of the major reasons for this is the rapid commercialization of 5G technology. This technology is being adopted at a high rate by several enterprises to leverage different wholesale voice services.

The investments made towards 5G network solutions are increasing today because of the possibility it offers to service providers to diversify their portfolio and help them grow their market share. There are several mobile operators today that are upping their investments in futuristic 5G networks to help them cater to the increasing demand for high-quality connectivity among consumers while increasing the range of their mobile data services for customers.

The growing need among service providers to opt for cost-effective wholesale voice carriers will boost the demand for voice termination services in North America. In fact, this segment held an overall share of more than 70% in the regional wholesale voice carrier market during 2019. Voice termination services are gaining tremendous momentum over traditional voice and data solutions because of the increase in demand for high-quality voice calling among consumers.

On the basis of transmission, the market share from leased network services in North America will grow at a steady rate of more than 10% CAGR through 2026. There is a sudden spike in the percentage of service providers opting for leased network infrastructure. They prefer leasing a part of the overall infrastructure so that they can set up their voice carrier facilities in emerging markets. As the telecom industry is growing, the number of service providers opting for leasing the network infrastructure from Tier-1 operators has increased as well. This helps the Tier-2 and Tier-3 network providers lower the overall network ownership cost.

VoIP (Voice over Internet Protocol) services adoption will grow at a substantial rate, capturing over 40% of wholesale voice carrier market share in North America in 2019 alone. A major reason for this is the several benefits of these services for customers across the region. They reduce the overall cost of long-distance domestic calls and the cost of international calls is lower as well. The quality of phone calls made with the help of VoIP is greater as compared to the ones made using Public Switched Telephone Network (PSTN).

Canada’s wholesale voice carrier market will expand at a greater rate during the forecast period of 2020-2026 because of the strength in demand for voice carrier services in the country. The nation is even coming up with different mechanisms to reduce the number of fraudulent calls taking place over networks, thereby providing strong protection against scammers. The demand for 5G technology services has increased by many folds in the country. The local telecom service providers are getting into partnerships with other firms to provide these high-speed services to their customers.

In February 2020, Huawei and Telus Corporation announced a partnership to launch 5G network services in Canada. This collaboration was implemented by following all the governmental protocols laid for network services and the enterprises across the country are now benefiting with the availability of high-speed internet connection.

Some of the leading companies providing wholesale voice carrier services in North America are CenturyLink Inc., BT Group PLC, Alepo, AT&T Inc., NTT Corporation, TATA Communications Ltd. among many others.

Source: https://www.graphicalresearch.com/industry-insights/1864/north-america-wholesale-voice-carrier-market

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Data Center Power Market: Top Trends Propelling the Industry Demand Through 2026

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According to a recent study from market research firm Graphical Research, the global data center power market size is set to register significant growth during the forecast timeframe. With the proliferation of advanced technologies such as artificial intelligence (AI), the internet of things (IoT), 5G, and cloud, the demand for data center power is likely to augment through the next five years. These advanced technologies are expected to be integrated into the systems used by manufacturing companies leading to growing pressure on the IT infrastructure.

The next-generation IT infrastructure is likely to adopt advanced power supply solutions that cope with these pressures. A growing inclination toward customized services is marking a new trend in the market, owing to which, service providers have been catering to the individual demands of the end-users.

The global data center demand has surged during the COVID-19 pandemic, with tremendous consumption of networks due to work from home requirements and higher viewership of OTT platforms. The following top seven trends are expected to accelerate the global data center power market outlook through 2026:


Emphasis toward cutting down energy consumption in America

Data centers consume more than 416 terawatts of power annually, which represents nearly 3% of the total electricity generated on a global scale. As per the Energy Technologies Area or ETA, more than 73 billion kWh were consumed by the U.S. during 2020.

This has brought into focus the need to minimize energy consumption across the region, generating demand for advanced solutions across the data center power market in North America. Power management in data centers can be achieved through the improvement of the flow of power distribution across ventilation systems, environmental control, UPS systems, and lighting.

Spiraling demand for OTT services across Canada and the U.S.

The North American data center power industry forecast is registering a high growth owing to the rising number of intelligent power managing solutions in the region. The popularity of OTT services across the US and Canada has been soaring since the outbreak of the novel coronavirus, with soaring subscriptions across platforms such as Amazon Prime Video, Disney Hotstar, and Netflix.

Additionally, data-intensive businesses have been seeking to minimize greenhouse gas emissions and the PUE ratio, at the same time boosting power efficiency. With this aim in view, several industry participants have been developing smart UPS, intelligent PDUs, as well as battery monitoring equipment.

Digitalization across the North American healthcare industry

The data center power market applications in North America are segmented into healthcare, IT & telecom, BFSI, government, manufacturing, energy, and colocation end-users. Of these, the healthcare industry has been exhibiting a key impact on the market, with a higher need for data center services.

By 2026, the healthcare application segment will see considerable revenue generation, thanks to the growing utilization of digital data and higher emphasis on government standards. Government mandates, including the HIPAA standards, are being enforced in a more stringent manner to ensure higher productivity and efficiency of the healthcare industry.

Extensive adoption across European cabling infrastructure

The cabling infrastructure in European countries is slated for strong growth through the forecast timeline owing to the growing demand for reliable and effective equipment across data centers in the region. Cable management products and solutions are extensively utilized due to their simple, modular designs, and ease of installation. Leading manufacturers in the European data center power market are providing advanced cable management solutions with improved scalability, flexibility, and intelligence.

Growing requirement across Europe’s hyperscale data centers

Owing to the growing integration of advanced power storage devices across hyperscale data centers, the data center power industry share from the UPS segment accounted for a major portion of the total revenue share during 2019. Cloud service providers have particularly been expanding their presence throughout the region by developing mega data centers.

For example, in September 2020, Google LLC announced its plan to invest more than $3.3 billion towards the expansion of its data center footprint in Europe over the span of the next two years. Since hyperscale data centers involve the integration of a host of storage devices and servers, they require an uninterrupted power supply for ensuring continuous transmission and processing of data.

Growing demand for online banking across Asia

Asia Pacific has been witnessing a thriving BFSI sector seeking digital technologies, especially in the wake of the COVID-19 pandemic. Contactless payments, POS terminals, mobile wallets, and online banking, in general, are growing increasingly popular in the last few years.

For instance, in Japan, more than 24 million individuals utilized their smartphones at POS terminals to make payments during 2019. The rising concerns over data center downtime are fueling Asia Pacific data center power market forecast.

Increased internet penetration across APAC

The demand for seamless online video streaming has been escalating synchronously with the expanding internet penetration across Asian countries. The high data consumption rate by Amazon Prime Video, YouTube, and Netflix users will translate to the focus toward the development of a robust data center infrastructure. T

The rapid adoption of 5G, IoT, AI, cloud computing, and other latest technologies across numerous data center construction projects is likely to power the APAC data center power market forecast.

ABB Group, Cisco Systems, Inc., Cummins, Inc., Legrand, Black Box Corporation, Vertiv Group Co., Siemens AG, and Cyber Power Systems, Inc. are some leading data center power solutions providers in the international market.

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Enterprise Networking Market: Top Trends Reinforcing the Industry Forecast through 2024

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According to a recent study from market research firm Graphical Research, the global enterprise networking market size is poised to expand at a substantial CAGR during the forecast period. The outbreak of the COVID-19 pandemic has been shaping the field of networking in various ways, including the emergence of completely remote offices and the development of advanced software solutions for better communication. Consequently, the demand for networking solutions across enterprises and businesses is slated to spiral throughout the world.

The top seven trends powering the enterprise networking industry outlook are as follows:

Expanding Demand for High-Speed Switches in North America

In terms of product, the North American enterprise networking market outlook has been bifurcated into network security, routers, switches, network management, and wireless. The demand for high-speed ethernet switches has been escalating in recent times in accordance with the growing utilization of network virtualization solutions.

During 2017, the market share from the switching segment accounted for more than 25% of the total regional industry. The forthcoming years are poised for considerable growth as the transformation of the enterprise network needs amid the pandemic has led to a higher preference for high-speed ethernet switches. With the proliferation of the 5G network, the demand will propagate further across the region.

North American Enterprises to Recalibrate their Cloud Strategies

Numerous businesses across the world, including those in North America, have been focusing on the recalibration of their cloud strategies as the workplace scenarios have been transforming due to the pandemic. In this scenario, virtual desktops, collaboration, and mobility are embracing the cloud deployment model for enabling a secure and distributed workforce.

The cloud model is increasingly being leveraged not just as an application destination but as a new enterprise management tool because it offers network insights efficiently. It ensures quick access to the latest features as well. This move toward the cloud deployment model is more than likely to stay afloat in the post-pandemic times.

Introduction of Native Cloud Management Platforms in Canada

By 2024, Canada is likely to emerge as one of the leading regional markets of the North American enterprise networking market. Advancing at a 6% CAGR, the regional segment has been registering a remarkable uptick in the volume of cloud service adoption by enterprises.

With the Canadian government utilizing cloud technology for responding to the growing necessity for IT services, private enterprises are turning to advanced cloud strategies. Numerous industry players have been expanding their product and service offerings. For instance, the cloud-based networking company, Extreme, announced the addition of a native cloud management platform located in Canada during December 2020, ensuring better data privacy and sovereignty for large enterprises.

Alarming Rise in Cyber Threats in the U.S.

The dramatic rise in the volume of cyber threats and cyber-attacks amidst the pandemic has been driving enterprises to adopt advanced networking solutions in the U.S. During 2017, the U.S. represented a staggering 70% of the total North America enterprise networking market share.

Clearly, cyberattacks rank as one of the fastest emerging crimes across the U.S., leading to major business disruptions. Recent surveys reveal that most enterprises are susceptible to data loss due to their poor cybersecurity practices and unprotected data. With growing concerns regarding better protection of data, the prospects for the enterprise networking industry in the U.S have improved.

Growing Adoption Across IT & Telecom in Asia

The Asia Pacific enterprise networking market size is slated to expand rapidly over the forecast years. The sector held a market share of more than 30% during 2017 and might make a significant headway by 2024. By 2024, the overall APAC industry share will have reached $20 billion.

The growth in the need for high bandwidth applications has been encouraging enterprises to switch to advanced enterprise networking solutions for addressing the current bandwidth shortage problems. As smartphones, laptops, and tablets become more commonplace with trends such as BYOD (Bring Your Own Device), the enterprises will see a higher adoption even in post-pandemic times.

Cybercriminals Capitalizing on COVID-19 fear in Japan

In Japan, cybercriminals have been capitalizing on the COVID-19-induced fear for luring victims into sophisticated traps, while hackers have been targeting victims via hoaxes and phishing emails. This will fuel the APAC enterprise networking market forecast.

As Japanese companies have been falling victim to unexpected cyberthreats and cyber-attacks, they have been striving to fortify their cybersecurity. In December 2020, the Japanese Ministry of Trade urged enterprises to exercise enhanced leadership with strengthened internal cybersecurity, as the frequency can worsen with the growth in telework.

Rising IoT devices across the Netherlands

The Netherlands enterprise network market is expected to accrue a considerable revenue by 2024, growing at a 10% CAGR through the analysis timeline. The support from government initiatives has been improving cybersecurity across enterprises.

Issues such as the rising phishing through text messaging, misuse of vulnerabilities in Dutch government’s servers, misuse of the ICT infrastructure, and large-scale distributed denial of service (DDoS) attacks are urgently being addressed by enterprises to avoid losses that can have an impact beyond the financial aspects. The considerable addition of numerous IoT devices to the technological infrastructure in the region, promoted by the deployment of LPWAN technology has also been fostering networking growth.

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Digital Twin Market: Top Impactful Trends Fostering the Industry Growth through 2026

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The global digital twin market is expected to witness rapid development in the coming years, thanks to its increased adoption by enterprises to effectively manage various critical activities of their business. As the term suggests, it is considered as a digital counterpart of a real-time or physical machine or process. It can be a computer program that is quite useful for conducting virtual simulations of a physical product or process to understand and estimate its future performance.

Several governments across the world are showing their support towards the development of advanced production technologies in the form of favorable initiatives and policies. Digital twins are becoming quite popular among companies as they help them analyze the future performance of an object or process, thereby saving a lot of money, time and effort for the organization. For instance, ORE Catapult and James Fisher Asset Information Services Ltd., in April 2020, announced a strategic alliance to use digital twin technology for effective offshore wind management.

The top trends that will bolster the global digital twin industry are given below:

Use of advanced technologies will drive digital twin industry in Europe:

Europe’s digital twin market size is anticipated to go past the valuation of $9.5 billion during the forecast period of 2020-2026. The region is widely known for the creation and use of advanced technologies across different industries. Digital twin technology has picked up pace in recent years in several countries across Europe because of the rising need for virtual technologies and high-end analytical tools to help build future processes across industries.

GHENOVA Ingenieria launched its own digital twin center named GHENOVA 360 in May 2020. The launch will help in the creation and deployment of naval systems and has enabled the company to deliver solutions to military ship manufacturers.

The automotive industry will use digital twins to improve product performance:

Digital twin technology will find increased application in the European automotive industry. The automotive sector will use this technology to analyze the performance of vehicles and make desired changes. It will help companies make improvements in the overall design and efficiency of the vehicles as well. Advanced technologies like AI, IoT and IIoT are being increasingly adopted to continuously enhance the driving experience for the owners. The use of digital twin technology even helps predict potential risks in vehicles and provides solutions for the same.

Germany’s role in the European digital twin industry :

Germany is known for its use of advanced technologies and will play a key role in the development of the digital twin market in Europe. Digitization is taking place on a large scale across different sectors like healthcare in the country. This has prompted the development of digital twin solutions among many domestic companies.

Siemens AG announced a partnership with Atos SE to create digital twin services for the pharmaceutical sector. Various technologies like AI, IoT and IIoT are being used in digital twin processes to analyze the overall efficiency in the production of pharmaceutical products and make improvements accordingly. The use of this advanced technology has helped increase the overall reliability and quality of processes.

Improved design and performance demand in North America:

North America’s digital twin market is expected to become worth nearly $1.5 billion in valuation over the coming years. There has been a growing need for improving the design and performance of the products and services among the regional producers. In fact, the product design and development application held a share of nearly 50% in the regional digital twin market in 2019. The demand for detecting faults beforehand and making significant improvements in the design and performance of the product has stimulated the need for using digital twins.

This technology helps in saving a lot of money, time and efforts of companies by speeding up the designing procedures which ultimately helps in launching new products at a faster rate.

North America aerospace and defense sector uses digital twin:

The aerospace and defense sector in North America will increasingly adopt digital twin technology through 2026. One of the main reasons for this substantial rise in demand is the need to reduce casualties and increase the efficiency of military weapons. Digital twin technology helps in creating virtual models of weapons and other components to understand their current status.

The data received from real-time machinery helps the advanced technology in detecting potential faults in these weapons and even helps in predicting the exact time when maintenance will be required. The aircraft industry is using digital twins of real airplanes and feeding them with real-time data to improve the reliability of their functioning and reduce the overall cost of maintenance. They effectively help in enhancing the performance of the airplanes as well.

The rise in industry 4.0 practices will foster APAC digital twin market:

The Asian Pacific digital twin market will become worth more than $11 billion in valuation by 2026. Industry 4.0 is seeing rapid adoption across different sectors and is helping them become digital in many ways. The use of digital twin technology will enable industries in bridging the gap between the virtual and physical world and will even play an important role in enhancing overall efficiency and productivity. Toyota had, for example, had displayed its concept of futuristic warehouses with digital twin in April 2019, having intelligent pre-trained forklifts and lean logistics.

Higher focus on process support and services in Asia Pacific:

Digital twin technology solutions will find increased application in process support and services segment in Asia Pacific region. The Asia Pacific digital twin market share from the application is anticipated to grow at 35% CAGR throughout the mentioned forecast timeline. Processes of several industries can be improved with the help of digital twins; they can even be used to reduce the overall maintenance costs by predicting faults beforehand. These efforts will improve customer experience, reduce overhead costs incurred in repair and maintenance and optimize manpower use in the manufacturing processes.

Some of the prominent companies involved in providing digital twin technology solutions across the world are Oracle Corporation, IBM Corporation, Siemens AG, PTC Inc., SAS Institute Inc., Rockwell Automation, Schneider Electric and some others.

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Wholesale Voice Carrier Market: Top Trends Propelling the Industry Demand through 2026

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According to a recent study from market research firm Graphical Research, the global wholesale voice carrier market size is poised to expand at substantial CAGR during the forecast period. Thanks to the growing indispensability of smartphones worldwide, the global wholesale voice carrier industry outlook is expected to benefit from the massive voice over internet protocol (VoIP) demand. The market is expected to make a significant headway between 2020 and 2026 on account of the trending commercialization of 5G technology worldwide.

Due to the augmenting adoption of smartphones, VoIP traffic is growing. The utilization of mobile internet and data-intensive voice calling applications are responsible for the rising VoIP needs. As investments pour in across the global telecom industry, expansion of telecom infrastructure and networks is likely to foster opportunities for the global wholesale voice carrier market forecast.

CenturyLink, IDT Corporation, Vodafone Group Plc., Orange SA, Telefonica SA, Deutsche Telekom AG, BT Group Plc, Bharti Airtel Ltd., Sprint (T-Mobile), BCE Nexxia Corporation, and Alepo are some leading wholesale voice carrier companies in the international landscape. The following seven trends are accelerating the industry forecast:

Leased network demand in North America

The deployment of leased network infrastructure is growing across North America. In the highly competitive telecom industry, tier-2 and tier-3 providers have been leasing network capacities to a considerable extent from tier-1 operators. They have been doing so to benefit from the minimal cost of ownership to maximize profitability.

North America wholesale voice carrier market share from the leased network segment is anticipated to grow at a 10% CAGR up to 2026. The growth can be accredited to the growing need for a leased network in VoIP call termination in the region. Prominent telecom operators are leasing a part of their network for setting up voice termination facilities across emerging markets.

Transmission switching technology in North America

The wholesale voice carrier industry share from the transmission switching segment accounted for more than 50% of the total North American market during 2020 and is slated to expand further. The considerable dependence on traditional voice calls in the lesser developed North American regions is driving demand for the technology.

Rural areas face the challenge of limited wireless network availability. Since a large percentage of the rural population relies on traditional voice calls, the use of transmission switching is likely to expand through 2026. Several wholesale voice providers are offering minimal cost and time of installation, optimal life of switch, and unitized configurations.

Strategic partnerships by Canadian telecom enterprises

Canada’s wholesale voice carrier market size is expanding at a rapid pace, thanks to the growing 5G commercialization across the region. Canadian telecom operators are making the most of the partnership opportunities for delivering 5G services. They are focusing on diversifying their offerings through their strategic moves.

For instance, Telus Corporation announced its plan to partner with Huawei for launching a 5G network in Canada in February 2020. In compliance with the regulatory government standards, the partnership was fruitful in launching new, efficient solutions and devices. Thanks to the access to high-speed internet, enterprises can leverage IP-based telephony services.

Adoption of interconnect billing solutions in Asia Pacific

Interconnect billing solutions are gaining traction throughout Asia Pacific. The key reason these solutions are becoming mainstream is that telecom operators find convergent billing systems useful in accelerating digital transformation. The APAC industry share from the interconnect billing segment is slated to grow at a 10% CAGR through the assessment timeline. By 2026, the total APAC wholesale voice carrier market size is expected to surpass $7 billion.

Increasing telecom frauds in Asia

The alarming rise in fraud frequency across the regional telecom sector is influencing Asia Pacific wholesale voice carrier market. The requirement for fraud management solutions is growing due to this trend. As per the 2019 data published by Trend Micro, a Japan-based cybersecurity firm, the annual cost from telecommunications subscription frauds was estimated at $12 billion, equaling between 3% and 10% of the gross revenues of regional operators.

Asia Pacific wholesale voice carrier industry share from the fraud management segment is expected to rise at a 12% CAGR through 2026, promoted by the surging focus toward fraud prevention. In order to ensure a reduction in losses, the significance of these solutions is gaining popularity.

Growing subscriptions for VoIP services in Europe

The number of VoIP subscriptions are augmenting across European countries. The preference for VoIP-based calling is growing amongst regional subscribers due to the tendency to avoid the higher costs associated with traditional voice calls.

The industry share from the VoIP segment in the region will register around 13% CAGR through the next five years. VoIP-enabled wholesale voice carrier services provide enhanced technologies to telecom companies, simultaneously eliminating the unnecessary charges associated with roaming.

The gradual shift to voice termination in Europe

Europe wholesale voice carrier market size is slated to reach $11 billion by 2026, thanks to the presence of a robust commercial network infrastructure in the region. Since voice termination involves substantial routing costs and international call termination across multiple networks, wholesale voice providers can benefit from significant opportunities provided by this solution.

The region is seeing a shift from conventional voice and data services to more profitable and efficient solutions provided by regional wholesale voice termination service providers. Europe wholesale voice carrier market share from voice termination segment is expected to represent more than 70% of the total industry by 2026.