The Growing Green Hydrogen Market: A Sustainable Energy Revolution

February 5th, 2024 Research Nester Leave a comment

Introduction

In the search for a sustainable and clean energy future, green hydrogen has emerged as a frontrunner. Green hydrogen is poised to be pivotal in reducing carbon emissions and transitioning to a low-carbon energy landscape. Here we explore the burgeoning green hydrogen market, its potential, challenges, and the promise it holds for a greener world.

What is Green Hydrogen? How is it formed?

Green Hydrogen is a hydrogen gas produced through a process known as electrolysis, using renewable energy sources like wind or solar power. Unlike conventional hydrogen production methods, which often rely on fossil fuels, green hydrogen is considered environmentally friendly and sustainable as it is produced using clean, renewable energy.

The process of green hydrogen production involves splitting water (H2O) into its two constituent elements, hydrogen (H2) and Oxygen(O2). Electrolysis takes place within an electrolyzer, which requires electricity to drive the chemical reaction. When this electricity originates from renewable sources like wind or solar, the hydrogen produced is termed “green” because it has minimal impact on the environment and does not generate greenhouse gas emissions.

Why is it necessary?

Green Hydrogen is necessary to address the pressing challenges of climate change and transition to a sustainable, low–carbon energy future. As the world grapples with the devastating effects of greenhouse gas emissions, green hydrogen offers a vital solution for several prospects:

First and foremost, green hydropower is essential in the battle against climate change. It provides a means to decarbonize sectors that are traditionally hard to electrify, such as heavy industry and long-haul transportation. By replacing fossil fuels with green hydrogen in these applications, we can significantly reduce carbon emissions, helping to limit global warming and its catastrophic consequences.

Moreover, green hydrogen supports the integration of renewable energy sources like wind and solar power. It acts as an energy carrier that can store excess renewable energy, addressing the intermittency of these sources and ensuring a stable and reliable energy supply. Additionally, green hydrogen enhances energy security by Reducing reliance on fossil fuels, promoting energy independence, and fostering local production. It also drives technological innovation and economic growth, creating new job opportunities and promoting a sustainable energy ecosystem.

Applications:

Transportation– Fuel cell vehicles powered by green hydrogen offer a clean alternative to traditional gasoline-powered vehicles.
Industry– Green Hydrogen can be used in industrial processes, such as steel and ammonia production.
Energy Storage – Green Hydrogen can store excess renewable energy and release it when needed, supporting grid stability.
Heating– Hydrogen can be used for heating in residential and commercial buildings.

Market dynamics:

The size of the green hydrogen market is anticipated to exceed USD 515.66 billion by the end of 2025, expanding at a CAGR of 61% between 2023 and 2035. By 2022, the green hydrogen market was worth about USD 1.7 billion. The market is likely to develop as a result of electrolyzers’ increasing capacity, which is predicted to increase the generation of green hydrogen. By 2030, installed electrolyzer output should reach 134–240 GW, double that of the previous year’s predictions. The yearly production capacity of electrolyzers has increased to around 8 GW, nearly double from the previous year. Moreover, by 2030, home consumption is likely to have the largest electrolysis (green hydrogen generation) capacity in the world, at about 60 GW/5 million tons.

Key factors aiding the market’s growth:

Clean Energy source– Green hydrogen is produced using renewable energy sources like wind and solar power. This means it generates minimal to no greenhouse gas emissions during its production, making it an environmentally friendly and sustainable energy source.
Versatility– Green hydrogen has a wide range of applications across various sectors. It can be used in transportation to power fuel cell vehicles, in the industry for processes like steel and ammonia production, for energy storage, and as a clean alternative to fossil fuels in heating and electricity generation.
Energy Storage-Hydrogen can store excess renewable energy, which is especially valuable for balancing the intermittent nature of wind and solar power. It can be used to store surplus energy during periods of high production and release it when demand is high or when renewables are not producing energy.
Reducing Carbon Emissions– The use of green can significantly reduce carbon emissions in industries and applications where it replaces fossil fuels or other high-emission energy sources. This is crucial in the fight against climate change and meeting emissions reduction targets.
Long–Term Sustainability– Green Hydrogen has the potential to be along long-term and sustainable energy solution, contributing to a reduction in sustainable energy solution, contributing to a reduction in fossil fuel dependency and a more sustainable future for generations to come.
Energy Security– Hydrogen can be produced locally, reducing dependence on imported energy sources. This enhances energy security and resilience, especially in regions with abundant renewable resources.

Regional Aspects:

In Europe, mainly due to increasing electrolyzer production capacities, the Green Hydrogen industry has a major market. In a joint declaration signed by the commissioner of the European Commission and 20 CEOs from related industries, the business agreed to tenfold its capacity to reach 17.5 GW per year for producing electrolyzers by 2025.

Segmentation Aspect-:

The industry for green hydrogen is split into two categories based on application: transportation and power generation. The bulk of the market share will go to the transportation sector. The government’s growing endeavors to develop a green hydrogen-based transportation system are blamed for the development. Additionally, the growing popularity of fuel-cell electric cars is anticipated to support the segment’s expansion. More than 40,000 fuel cell electric vehicles worldwide have been put into service since June 2021, of which almost 90% are in four countries: Korea, the USA, China, and Japan.

Key Players in the Industry

Siemens Energy- Energy transition is the greatest challenge our generation faces. The company reduces emissions while also increasing energy supply. The company’s mission is to support companies and countries with what they need to reduce greenhouse gas emissions and make energy reliable, affordable, and more sustainable.

Cummins Inc.- In both China and India, Cummins has evolved to become one of the largest engine manufacturers. But Cummins is more than an engine manufacturer, it’s a global leader in the manufacture of diesel and natural gas engines, hybrid engines, and generators, and it’s about to enter the electrified power market.
Linde plc– With a 2022 sales volume of $33 billion, Linde is the world’s leading industrial gas and engineering company. They aim to make our world more productive every day through the provision of high-quality solutions, technology, and services that result in a higher level of success for customers who help maintain, decarbonize, and protect their planet.

Green Hydrogen Latest Trends:

Green hydrogen projects are making headlines more often. Significant global breakthroughs and investments in green hydrogen have developed in the last year:

An investment of EUR 4 billion is planned by the Norwegian steel company Blast Green Steel to build a low-carbon steel plant in Finland that would be one of the largest industrial projects in the Nordic country.
Spain sees itself as Europe’s future leader in the production of green hydrogen to clean up the heavy industries, thanks to its abundance of sun and wind. However, some energy sector experts are concerned about the rapid growth of an industry that will be wholly dependent on a massive increase in the availability of zero-carbon electricity.
The government in the United States is allocating a significant amount of funds to clear hydrogen initiatives. And the states, too, are beginning to act. For instance, New York has signed an agreement with neighboring countries and 40 hydrogen ecosystem partners to establish a regional Hydrogen Hub to stimulate green hydrogen energy innovation and investment.
Normandy, France is receiving 12 electrolyzers from Siemens Energy, totaling 200 megawatts in capacity. They will be used in the Normandy project by Air Liquide, a global leader in gases, technologies, and services for industry and health. Air Liquide’s project in the Port-Jérôme industrial zone will generate 28,000 tons of renewable hydrogen per year for use in industry and the transportation sector starting in 2026. A road truck powered by hydrogen could travel 10,000 times around the globe with this much fuel.
The first hydrogen passenger train in North America is being powered by AcceleraTM by Cummins, the zero-emission business division of Cummins Inc. (NYSE: CMI), which represents a critical turning point and important advancement in the region’s shift to clean urban transportation. Alstom, the world leader in green and smart mobility, makes the train, the Coradia iLint.

Conclusion:

The green hydrogen market is a promising frontier in the transition to a sustainable energy future. While challenges exist, investments in research development and infrastructure are accelerating its growth. As the world seeks cleaner energy alternatives to combat climate change, green hydrogen’s potential to reduce carbon emissions and support a cleaner, greener future cannot be underestimated. This market’s evolution will be a critical factor in the fight against climate change and the realization of sustainable energy revolution.

Source:

https://www.researchnester.com/reports/green-hydrogen-market/4778

Global Trade Daily, Technology

Navigating the Evolution of IT: The Hyper-Converged Infrastructure Market

November 29th, 2023 Research Nester Leave a comment

In the paced world of technology, companies are always on the lookout for new ways to improve their IT systems. The traditional data centers have gone through changes and become intricate environments that often require a dedicated team, for upkeep and management. That’s where the Hyper Converged Infrastructure (HCI) market comes in—a solution that offers simplicity, scalability and cost efficiency. In this blog post we’ll take a dive into the realm of HCI exploring its growth, advantages, challenges and its crucial role in shaping the future of IT.

The Rise of Hyper-Converged Infrastructure

Hyper Converged Infrastructure (HCI) is a method for managing data centers that integrates storage, compute, networking and virtualization into one comprehensive system. By combining these elements HCI eliminates the necessity for hardware components and streamlines infrastructure management. The HCI market has experienced remarkable growth in recent times.

Market Overview

According to a report by research nester the hyper converged infrastructure market is projected to expand and reach a value of USD 358.3 Billion by 2035 with a compound annual growth rate (CAGR) of 31.10% from 2023 to 2035. Furthermore, in 2022 the market size for hyper converged infrastructure was recorded at USD 13.9 Billion.

Key players in the market include Dell Technologies, VMware Inc., Nutanix Inc., Cisco Systems Inc., Hewlett Packard Enterprise Company, StorMagic, Huawei Technologies Co., Ltd, IBM Corporation, Microsoft Corporation, Scale Computing. These companies account for a significant portion of the market share and are continuously innovating to stay ahead of the competition.

Feb 2, 2022: Green panel has decided to implement the Dell EMC Vx Rail hyper converged infrastructure in order to upgrade their data center and enhance efficiency in their manufacturing and business operations.
November 24, 2021: VMware Inc. has recently announced that they have again been recognized as a Leader in the Gartner® Inc. Magic QuadrantTM for Hyperconverged Infrastructure Software marking their consecutive acknowledgment. Additionally, VMware has achieved the positioning on the Completeness of Vision axis.

Key Market Drivers and Trends

Simplicity and Ease of Management: Simplifying data center management, HCI brings together storage, compute, networking and virtualization into one platform. This eliminates the requirement to handle hardware components and streamlines daily operations making IT infrastructure management less complex.
Edge Computing: According to survey data it seems that businesses are planning to allocate around 31% of their IT budgets towards edge cloud computing in the coming three years. A significant portion 58% of decision makers in the field of mobility have already included edge computing in their plans since 2020. As edge computing gains importance many organizations are favoring HCI as a solution for managing remote and distributed IT environments. The design of edge HCI solutions specifically addresses the challenges faced in edge locations, such as limited space and connectivity constraints.
Data Protection and Disaster Recovery: Incorporating data security measures and contingency plans is a practice, in the field of Human Computer Interaction (HCI). These measures usually include automated backups and replication which are designed to safeguard the availability and integrity of data. By implementing these capabilities organizations can effectively minimize the risks associated with data loss and system downtime.
Hybrid and Multi-Cloud Integration: Many companies opt for a combination of cloud (38% compared to 35% last year) or multi cloud strategy (35%) to make the most of various services scale up easily and ensure smooth business operations. Around 80% of organizations utilize two or more IaaS or PaaS providers. The field of HCI is constantly evolving to offer effortless integration with multi cloud environments. This empowers companies to enjoy the benefits of public cloud services while retaining control over their infrastructure.
Artificial Intelligence (AI) and Machine Learning (ML): Many HCI vendors are integrating intelligence (AI) and machine learning (ML) features into their businesses to improve resource allocation, enhance security measures and optimize predictive maintenance. This ultimately leads to increased efficiency. It has been noted that a significant 92% of top tier organizations are actively investing in AI initiatives. In terms of support, machine learning applications received a remarkable $29 billion in funding while machine learning platforms were granted $16 billion, in investments during the year 2019.

Regional Landscape and Segmentation

The North American market is expected to see the highest growth in the market share of hyper converged infrastructure compared to other regions by the end of 2035. This growth is driven by the increasing number of data breaches in this region and the efforts made by organizations to protect their data and invest in AI. Half (about 46%) of American businesses experienced a data breach in the past year but considering that there may be additional breaches that have not yet been discovered the actual number could be even higher. As a result, many enterprises, in North America are focusing on improving their infrastructure security to enhance their hybrid cloud capabilities and advance their infrastructure strategy while maintaining strong security measures.

The global hyper-converged infrastructure market is segmented and analyzed for demand and supply by:

Component: Solutions, Services.

Application: Remote Office/Branch Office, Virtual Desktop Infrastructure, Data Center Consolidation, Data Protection & Disaster Recovery.

End User: banking, financial services, & insurance BFSI, IT & telecom, manufacturing, government, and healthcare.

Out of which, it is expected that the banking, financial services and insurance (BFSI) industry will generate the highest revenue by 2035. This growth can be attributed to the increasing demand for data storage and protection within this sector. Since January 2018, 999 data breaches have affected approximately 152 million records in the United States alone. Consequently, ensuring data privacy has become a priority for the banking and finance sector.

Use Cases

One of the most compelling use cases for hyper-converged infrastructure is virtual desktop infrastructure (VDI). With VDI users are able to access their desktops from a server, which can often be demanding on server resources. Hyper converged infrastructure provides a solution by offering a system that includes compute, storage and networking resources in one manageable package.

Another important application of HCI is in remote office/branch office (ROBO) deployments. These environments typically have limited IT resources. Necessitate a solution that can be easily deployed and managed from a distance. Hyper converged infrastructure offers a simplified solution, for such scenarios minimizing complexity and enhancing overall efficiency.

Challenges of Hyper-Converged Infrastructure

One of the difficulties with HCI is the risk of getting locked into a specific vendor. Once you’ve made an investment in a vendor’s solution it can be quite challenging and costly to switch to another vendor. This limitation can restrict your choices. Make it harder to adapt in the long term. However, there are ways to address this concern. For instance, you can opt for a vendor that supports standards or utilize abstraction layers to separate your applications from the underlying infrastructure.

Another hurdle of HCI is dealing with potential complexities. As your environment expands and becomes intricate, managing and resolving issues can become quite challenging. To tackle this obstacle, it would be beneficial to consider leveraging automation tools and implementing practices, for configuration management. Additionally, having an understanding of your requirements and selecting a solution that meets those needs without unnecessary complications is crucial.

Conclusion

The Hyper-Converged Infrastructure market is reshaping the world of IT by making data center management easier improving scalability and reducing costs. As companies prioritize transformation and agility, HCI will continue to be an important part of their IT strategies. To navigate this changing market successfully businesses need to assess their needs consider current trends and select HCI solutions that align with their long term goals. By doing they can fully utilize the potential of HCI and position themselves for future success in the constantly evolving technology landscape.

Source: https://www.researchnester.com/reports/hyper-converged-infrastructure-market/4792

Global Logistics, Global Trade Daily, Warehousing

Smart Warehousing Market to Surpass USD 122 Billion by 2036

November 22nd, 2023 Research Nester Leave a comment

According to recent study published by Research Nester, the global smart warehousing market size is expected to cross over USD 122 billion by 2036 and is projected to expand at a CAGR of over 15% from 2024 to 2036.

Increasing Demand for E-Commerce to Promote Global Market Share of Smart Warehousing

Big data and analytics, artificial intelligence, autonomous robotics, augmented reality, and the Internet of Things are all part of the Industry 4.0 revolution, which is revolutionizing modern warehouse operations and is anticipated to drive market growth. There’s a little over 2.5 quintillion bytes of data generated every day. The value of Big Data Analytics in the healthcare sector could amount to 79.23 billion US dollars before 2028.

Moreover, with eCommerce’s popularity rising and digitalization increasing, the smart warehousing industry is on an upward trend. To reduce errors, a number of supply chain suppliers from all over the globe use cutting-edge technologies such as barcode scanner software, automatic driving aids, or radio frequency identification to improve and speed up their networks. It is important to make use of these technologies for storage so as to develop the market.

Some of the major growth factors and challenges that are associated with the growth of the global smart warehousing market are:

Growth Drivers:

- Surge in demand for mobile devices as a means to manage operations swiftly and effectively

Rising focus on warehouse 4.0 for a more efficient and safer warehouse

Challenges:

In view of the fact that these organizations stock smaller quantities than large organizations, a number of small businesses do not have their own warehouses. Multiple organizations cannot afford to invest in smart warehousing solutions due to limited income from small and medium-sized enterprises. Lack of enthusiasm in upgrading existing systems as well as limited growth plans makes smaller entrepreneurs unable to understand the benefits of smart warehousing solutions. The adoption of smart warehouse solutions by different SMEs is also an obstacle to significant investment and high initial costs associated with the implementation of such systems and security and privacy issues are some of the major factors anticipated to hamper the global market size of smart warehousing.

By offering, the global smart warehousing market is segmented into hardware, software, and services. The hardware segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The growing popularity of smartphones in many vertical areas, which can be quickly deployed in inventory control systems & and automated picking tools to simplify the management of inventories and lower total labor costs, has contributed to this growth. In response to the growing consumer demand for the Internet of Things, sensors, and AI technologies that will improve warehousing operations, vendors are beginning to develop smart warehouse equipment. More than 29 billion Internet of Things (IoT) devices are expected to be installed worldwide in 2030, nearly doubling the number from 15.2 billion in 2020. China is expected to have more than 8 billion consumer devices by 2030, which will be the world’s largest market for the Internet of Things.

By region, the Europe smart warehousing market is to generate the highest revenue by the end of 2036. In order to ensure that all products are safe and able to be traced, Europe has very strict regulations in the area of healthcare and pharmaceuticals. Smart warehousing systems capable of real-time monitoring, tracking, and notification are required to comply with these demanding standards in the region.

This report also provides the existing competitive scenario of some of the key players of the global smart warehousing market which includes company profiling of Oracle Corporation, SAP SE, Infor, Inc., Softeon, Korber AG, Manhattan Associates, Inc., PTC, Inc., Tecsys, Inc., Epicor Software corporation, and others.

Source – https://www.researchnester.com/reports/smart-warehousing-market/5313

Author bio

Aashi Mishra is currently working as a content developer with the Research Nester. An electronics engineer by profession, she loves to simplify complex market aspects into comprehensive information. She has experience of 3 years in this domain where she has mastered in tech writing, editing, copywriting, etc.

Global Trade Daily

Cooling the Heat: A Journey Through Data Center Cooling Systems

November 21st, 2023 Research Nester Leave a comment

Introduction

Data centers play a vital role in the digital era by facilitating the storage, processing and distribution of vast amounts of information. As our world becomes more interconnected the demand for data centers keeps rising, which calls for efficient and sustainable cooling methods. It has been noticed that 42% of a data centers energy consumption is devoted to cooling. With the growth in data storage and processing needs it is essential to find efficient and effective cooling solutions. Inadequate cooling can lead to downtime, reduced equipment lifespan and increased energy expenses. That’s why staying updated on the advancements, in data center cooling is vital to remain ahead of the curve.

Why Data Center Cooling is Important

Data centers are the backbone of modern computing landscape driving various aspects such, as social media platforms and financial institutions. However, these facilities produce an amount of heat, which can result in serious consequences if not effectively controlled. In fact, inadequate cooling can lead to a myriad of problems, including reduced efficiency, frequent instances of system downtime and even potential equipment malfunctions.

Experts in the industry have found that even a single hour of downtime can cause a sized data center to lose up to $100,000. Moreover, with an estimated cost of $9,000 per minute for data center downtime each year it becomes evident that any disruption, to operations can result in financial consequences. This is why the cooling systems and technologies employed in data centers play such a crucial role. They ensure smooth and efficient operation while minimizing the chances of downtime and maximizing uptime.

Types of Data Center Cooling Systems

When it comes to data center cooling systems, there are generally three types; air based systems, liquid based systems and hybrid systems. Each type has its set of pros and cons that need to be carefully considered during the design phase of a data center cooling system.

Air based cooling systems are the widely used type of cooling system in data centers. These systems utilize air as the cooling medium and involve the use of computer room air conditioning (CRAC) units. Air based systems are known for their simplicity and cost effectiveness in terms of installation and maintenance. However, they may not be ideal, for high density data centers that demand efficient cooling solutions.

On the side, liquid based systems utilize water or other liquids as their main cooling medium. These systems prove to be more effective than air based ones and’re particularly suitable for data centers, with high density requirements. However, it’s worth noting that they do come with added complexity and higher installation and maintenance costs.

Hybrid systems bring together air based and liquid based cooling technologies creating a balance. They offer cooling solutions for high density data centers while also being cost effective and straightforward to maintain. It’s no wonder that hybrid systems are gaining popularity in modern data centers.

Market Overview

According to a report from Research Nester, the Data Center Cooling Market is projected to reach a value of USD 220 billion by 2035 with an estimated compound growth rate (CAGR) of around 15% between 2023 and 2035. In 2022 the data center cooling industry was valued at USD 16 billion due to the growing demand for data centers across sectors. The global expenditure on IT data centers is anticipated to reach USD 222 billion in 2023. Currently there are 8,000 data centers worldwide with around one third of them located in the United States.

Key players in the data center cooling market include Schneider Electric, Vertiv Co., STULZ GmbH, Rittal GmbH & Co. KG, and Airedale International Air Conditioning Ltd. These companies offer a range of cooling solutions, from traditional air conditioning units to more innovative liquid cooling systems. Some key players and their recent developments in market are:

In April, 2022, Schneider Electric, a company specializing in the digital transformation of energy management and automation has recently unveiled its latest lineup of Uniflair Chillers. These advanced chillers, equipped with inverter screw compressors are specifically designed to cater to the cooling needs of large scale data centers. With their efficiency precise temperature control and adaptable configurations these chillers are well equipped to tackle both present and future challenges, in data center cooling.
In May 2022, Alibaba Cloud, a technology and innovation firm has recently unveiled its third data center in Germany. This state of the art facility offers a suite of cloud computing solutions, including storage, networking and databases. Notably the data center incorporates an approach to cooling by utilizing dry coolers and leveraging naturally cool ambient air instead of relying solely on mechanical refrigeration. This friendly method allows for over 7,000 hours of free cooling, per year.

Market Growth Drivers

Explosive Growth in Data Usage: The continuous growth of data usage fueled by cloud computing, Internet of Things (IoT) devices, streaming videos and big data analytics plays a role, in driving the Data Center Cooling market. Between 2000 and 2023 internet usage has seen an increase of 1300%. As we reach 2023, Asia remains the region with the highest number of internet users accounting for 52% of the global population. In order to keep up with the escalating demand, data centers need to expand their capacities and invest in cooling solutions.
Energy Efficiency Regulations: Governments and environmental organizations around the world are implementing measures to control energy usage and decrease carbon emissions. As an example the European Union has made a commitment to enhance energy efficiency with a goal of achieving a 20% improvement in 2020 and at 32.5%, by 2030. Data centers, known for their energy consumption are facing increasing demands to adopt cooling technologies that are more energy efficient in order to comply with these regulations.
Rising Awareness of Sustainability: Nowadays a lot of companies are placing an emphasis on sustainability and environmentally friendly practices. It’s interesting to note that around 62% of businesses have implemented a sustainability strategy. Additionally, 68% of these companies have made the shift towards using more sustainable materials like recycled products and lower emission alternatives. In line with this trend data center operator are also joining the movement by adopting eco cooling solutions such, as free cooling, liquid cooling and renewable energy sources.

Cooling Technologies

Direct expansion cooling is a widely used option for data centers because of its efficiency and simplicity. This system works by pumping refrigerant through a compressor and evaporator coils, which absorb heat from the air and cool it before sending it into the data center. Although this method is effective it can be costly to maintain, may not be ideal for larger data centers.

Another common technique’s chilled water cooling, where water circulates through pipes and gets cooled by a chiller unit before being distributed to cooling units across the data center. Compared to expansion cooling this method is more energy efficient and can be scaled up for larger facilities. However, it does require an infrastructure of pipes and pumps making maintenance more challenging.

A newer technology called evaporative cooling that utilizes water evaporation to cool the air. With this system water is sprayed onto a surface that absorbs heat from the air and then evaporates the water resulting in air that circulates throughout the data center. This approach offers efficiency at an affordable cost but may not be suitable for areas, with high humidity levels.

Cooling System Design Considerations

When creating a cooling system for a data center there are crucial factors to keep in mind. One of the important considerations is capacity planning. The cooling system needs to be capable of handling the heat generated by the IT equipment in the data center, which can vary depending on the type and density of the equipment. It’s also essential to plan for growth and expansion so that the cooling system can accommodate additional equipment without becoming overwhelmed.

Another significant aspect to consider is redundancy. A data centers cooling system should have components to ensure uninterrupted operation even if one component fails. This includes chillers, pumps and cooling towers. Additionally, it’s essential for the design of the cooling system to include paths for air and water flow. This way if one path becomes blocked or compromised the system can still function effectively.

Lastly, energy efficiency plays a role in any data centers cooling system. Cooling often consumes an amount of energy in a data center setup; thus minimizing energy consumption has a substantial impact on operating costs. Best practices for designing an energy cooling system involve utilizing free cooling when viable optimizing airflow throughout the data center space and employing high efficiency equipment, like variable speed drives and electronically commutated (EC) fans.

Future of Data Center Cooling

The prospects for data center cooling in the future are truly thrilling and brimming with possibilities. Ground breaking advancements like immersion cooling and magnetic refrigeration present fresh avenues to cool data centers effectively all the while lowering energy usage. These remarkable innovations not enhance the overall performance of data centers but also play a crucial role, in minimizing their environmental footprint.

New technologies, like edge computing, artificial intelligence and the Internet of Things (IoT) are creating a demand, for cooling solutions that are both localized and efficient. For instance, In June 2022, Microsoft and Meta have followed Googles lead by incorporating AI technology to manage their data centers. This decision was prompted by the heat produced by their new tensor processing units (TPUs) which surpassed the capabilities of their previous cooling systems. With data centers becoming increasingly interconnected and decentralized there is a rising need for inventive cooling solutions to meet the growing demands of this industry.

Author’s Bio

Shalini Nagar, a content associate brings a wealth of writing experience to the table through her work. She has gained proficiency in areas such as crafting website content, writing press releases and articles, creating engaging blog posts, editing work conducting research, and designing infographics. These diverse skills have made her a rounded writer and a valuable member of the team, at Research Nester Pvt. Ltd. Her experience has honed her attention to detail, and provided her with a deep understanding of different writing formats. In her leisure time, she enjoys browsing the internet immersing herself in books and exploring her creativity through cooking endeavours.

Source: https://www.researchnester.com/reports/data-center-cooling-market/4756

supply lending edge coriolis intelligence AI lenders

Global Trade Daily, Technology

AI Lending: The Future of Finance

October 6th, 2023 Research Nester Leave a comment

AI technology is revolutionizing the finance sector by automating banking procedures and extracting valuable insights from data, which plays a significant role in determining investment strategies. The implementation of AI has the potential to boost financial service revenues by 34% and contribute to a 26% growth in the economy. Moreover, AI is transforming customer experiences through contactless interactions, such as instantaneous credit approvals and enhanced protection, against fraud and cybersecurity threats.

What is AI Platform Lending?

AI platform lending is a cutting-edge technology that harnesses machine learning algorithms to streamline the lending process. In simple terms, AI platform lending involves using data analytics to evaluate creditworthiness, risk and other factors that determine the probability of a borrower defaulting on their loan. By analyzing volumes of data in real time lenders can make more informed decisions regarding who they lend to the loan amount and the interest rate at which they lend.

An example of AI platform lending in action is the utilization of chatbots for customer interactions. These chatbots are programmed to ask borrowers questions about their history, income and other relevant information. Based on these responses the chatbot can generate a loan offer that caters to the specific needs of each borrower. This not saves time for lenders but also provides borrowers with a smoother experience. It’s worth noting that in 2022, over 98 million users engaged with a banks chatbot. This number is expected to increase further to 110.9 million users by 2026.

The Evolution of AI in Lending

The origins of AI in lending can be traced back to the 1990s, when machine learning algorithms were initially employed to evaluate credit risk. Although these initial applications had their limitations in terms of scope and accuracy they paved the way for advanced models that emerged in the subsequent decades.

A significant breakthrough occurred with the advent of networks in the late 2000s. These networks enabled lenders to analyze datasets and make more precise predictions regarding borrower behavior. Additionally, the utilization of natural language processing (NLP) was another advancement. NLP allowed lenders to analyze data, like social media posts and online reviews providing them with a more comprehensive understanding of their customers financial wellbeing.

AI’s Impact On Finance: How Does It Work?

AI plays a vital role in shaping how financial institutions handle risk management encompassing security, regulatory compliance, fraud prevention, anti-money laundering (AML) and know your customer (KYC) protocols. By incorporating AI into their systems, banks, investment firms and insurance companies can leverage its capabilities to conduct real time calculations, for performance forecasting identify spending patterns ensure compliance adherence and explore numerous other applications.

Benefits of AI in Lending

By employing AI algorithms lenders can expedite the processing of loan applications with precision. As a result, borrowers can receive decisions on their applications within minutes or hours rather than enduring prolonged waiting periods spanning days or weeks. Furthermore, this enhanced efficiency empowers lenders to handle quantities of loan applications potentially leading to augmented revenue generation, for their business.

Another advantage of incorporating AI into lending is the enhanced precision it brings. Through the application of machine learning algorithms lenders are able to examine quantities of data identifying patterns and making more precise forecasts regarding creditworthiness. This allows lenders to minimize the risk of default and extend loans to individuals who might have otherwise been disregarded by lending models. Moreover, AI driven fraud detection systems can effectively thwart loan applications safeguarding lenders, against financial losses.

Types of AI Platform Lending

The lending industry has been greatly influenced by Artificial Intelligence (AI) which has revolutionized how financial institutions function leading to efficiency, accuracy and customer focus. Various forms of AI platform lending have emerged to cater to stages of the lending process. Here are some key types:

Peer-to-Peer (P2P) Lending

Peer to peer lending (P2P) is a form of lending that directly connects borrowers with investors through a platform. This approach bypasses the need for banks and financial institutions thereby offering borrowers lower interest rates and fees. At the time it provides investors with higher returns compared to conventional investment options. Europe boasts a number of over 90 P2P lending platforms having amassed a total funding exceeding €13 billion with an impressive €346 million funded in January 2021 alone.

For investors seeking to diversify their portfolio and achieve returns than those offered by traditional savings accounts or bonds P2P lending presents an enticing opportunity. However, it’s crucial to consider the associated risks such as loan defaults and varying levels of regulation across jurisdictions. Notable platforms, in the P2P lending space include LendingClub, Prosper and Funding Circle.

Traditional Banking Integration

Many traditional banks are now embracing intelligence (AI) to streamline their lending processes and enhance the customer experience. According to a report 80% of banks recognize the potential benefits that AI can bring to the banking industry. By utilizing machine learning algorithms banks can efficiently analyze amounts of data to evaluate creditworthiness and make real time lending decisions.

One advantage of incorporating AI into lending practices is its ability to minimize bias and enhance accuracy in credit scoring. Algorithms have the capability to consider factors beyond just credit history, such as social media engagement and transaction data, which provides a more holistic assessment of an applicant’s financial well being. However, there are concerns regarding bias and the importance of transparent decision making.

Numerous banks have already implemented AI powered lending platforms, like JP Morgans Contract Intelligence (COiN) platform and Wells Fargos Digital Lending Platform. These platforms utilize natural language processing and predictive analytics to automate loan document review processes while improving risk assessment.

Crowdfunding and AI

Crowdfunding and AI have become two agents of change in the lending industry. As of 2020 there were over 1,153 crowdfunding platforms worldwide. The combination of these two forces has given rise to lending platforms that offer unique advantages and risks for both borrowers and lenders. Crowdfunding enables an effort from numerous individuals to financially support projects or ventures while AI plays a crucial role in assessing creditworthiness and managing lending risks.

One successful example of a platform that combines crowdfunding with AI is Upstart. Upstart effectively utilizes AI technology to evaluate borrower’s creditworthiness and determine interest rates. Moreover, the platform allows investors to participate in loans and earn returns based on the performance of the borrowers. Another noteworthy example is LendingRobot, which leverages AI capabilities to automate the investment process, for lenders while providing them with investment portfolios.

Credit Scoring and Risk Assessment

With the digitization of the lending industry AI has become a major factor in evaluating creditworthiness and mitigating risks. By examining datasets, credit scoring models powered by AI can swiftly and accurately assess a borrower’s creditworthiness enabling lenders to make well informed choices.

However, there are disadvantages associated with exclusively relying on AI for credit scoring and risk assessment. For instance, if the data used to train these AI models is not a reflection of the entire population it can lead to biased outcomes. Moreover, there is a possibility that certain borrowers may face penalties if they don’t align with the predetermined criteria set by these models. It is crucial to assess the pros and cons of incorporating AI in lending practices and establish necessary measures to prevent any form of discrimination.

Market Insights

Research Nester predicts that the global market for AI platform lending will reach a revenue of USD 90 billion by 2033 with a projected compound annual growth rate (CAGR) of 25% during the forecast period from 2023 to 2033. Additionally, in the year 2022 this market already generated around USD 70 billion, in revenue.

Key Takeaway:

By Type, Machine Learning holds the largest market share among these types, followed by Natural Language Processing (NLP), Deep Learning (DL), and Natural Language Processing (NLP).
Among the AI types, the Visual segment turned out to be the most profitable with a much higher share of revenues than Analytic, Text, Visual, Interactive, and Others segments
Banking is expected to be the leading application segment in the market, followed by Educational Institutions and Government Organizations.
The North American market held the largest revenue share in 2022, while the Asia Pacific market is anticipated to grow at the fastest pace.
The major players in the market are Ellie Mae, Inc., Tavant, Sigma Infosolutions, Roostify, Inc., Fiserv, Inc., Pegasystems Inc., Newgen Software Technology Limited, Nucleus Software Exports Limited, and others.

Challenges of AI in Lending

One of the hurdles of adopting AI in the lending industry revolves around privacy concerns. As AI algorithms advance they have the capability to gather and analyze borrower data, including sensitive details like income, employment history and credit scores. This raises questions about how this information is utilized who can access it and how it is safeguarded against unauthorized access or hacking attempts.

Another significant challenge lies in the potential for bias in AI driven lending decisions. Since these algorithms are only as impartial as the data they are trained on there is a risk that they might perpetuate or exacerbate existing biases within the lending sector. For instance, if an algorithm is trained on data that reflects discriminatory lending practices it may unintentionally discriminate against certain groups of borrowers when making lending decisions.

To tackle these challenges head on lenders can adopt measures such as implementing data security protocols and utilizing diverse and representative datasets to train their AI algorithms. Collaborating with regulators and consumer advocates to establish guidelines, for AI driven lending and ensuring that their algorithms are transparent and explainable are also crucial steps.

Conclusion

The growth of intelligence (AI) has had a remarkable impact on the lending sector revolutionizing the financial landscape. It has made credit easily accessible and efficient for borrowers while also helping lenders effectively manage risks. As AI continues to progress its role in lending will become more significant creating a foundation, for a financially inclusive, secure and customer centric industry. Whether you’re an individual seeking a loan or a financial institution aiming to optimize lending practices it is crucial to understand the concept of AI platform lending as it will shape the future of finance.

Global Trade Daily

Nanosensors: The Tiny Marvels Revolutionizing Our World

September 27th, 2023 Research Nester Leave a comment

In the realm of technology and innovation, size doesn’t always play a role. Nanotechnology, with its microscopic advancements is transforming numerous industries. Among these innovations is the nanosensor—a minuscule yet immensely capable device that has the potential to reshape our world. In this blog post we will delve into the captivating world of nanosensors examining their nature, functionality and remarkable applications across fields.

What are Nanosensors?

Nanosensors are tiny devices that have the ability to detect and respond to changes happening in their surroundings at a molecular or atomic level. Unlike traditional sensors, which are often big and need external sources of power, nanosensors are small enough to be directly inserted into living cells or incorporated into microelectronic systems. This incredible capability makes them extremely versatile, opens up a whole new realm of possibilities for various sensing applications.

One major distinction between nanosensors and traditional sensors lies in their sensitivity. Due to their operation on such a scale nanosensors can pick up even the tiniest alterations occurring in their environment whether its fluctuations in temperature pressure variations or the presence of specific molecules. This remarkable attribute renders them ideal, for an array of applications ranging from medical diagnostics to environmental monitoring.

How do Nanosensors Work?

Nanosensors work by perceiving changes in the environment at the nanoscale level. They comprise components like wires or particles which possess the ability to detect variations in temperature, pressure, light and other relevant factors. Once these components detect a change they transmit a signal to a receiver that converts it into useful information.

An illustration of nanosensors functionality is evident in the field of healthcare. Nanosensors can be effectively utilized to identify biomarkers within the body such as glucose levels or cancer cells. Specifically engineered to interact with biomarkers nanosensors initiate modifications in their electrical properties upon binding with them. These changes are then. Transformed into readings that aid, in diagnosing or monitoring diseases.

Market Overview and Growth Drivers

The global nanosensors market is experiencing growth due to advancements in nanotechnology and the rising demand for accurate and real time sensing solutions. As per Research Nesters predictions the global Nanosensors Market is projected to reach a revenue of USD 8,500 Million by the end of 2033 with an annual growth rate (CAGR) of 12% from 2023 to 2033. In 2022 the market generated USD 500 Million in revenue. This market comprises types of nanosensors designed for specific applications such, as chemical, biological, optical and mechanical sensing.

The Internet of Things (IoT) has completely transformed our way of living life, work and communication. Based on the data it is estimated that there are around 16 billion connected IoT devices. This number is expected to double to 28 billion by the year 2030 due to the increasing demand for nano sensors. Nano sensors are components in IoT devices as they provide real time information on various factors like temperature, humidity and pressure. They are also used in homes, wearable technology and healthcare devices to monitor vital signs and improve patient outcomes.

In addition to that there is a growing trend towards smart homes and buildings for convenience and efficiency. The number of smart buildings worldwide is projected to rise from 46 million this year to 117 million by 2026—an impressive increase of over 150%. Nano sensors play a role in ensuring these systems operate smoothly by delivering real time data on aspects ranging from energy consumption, to air quality. An example illustrating how nano sensors are utilized in homes involves smart thermostats. These innovative devices employ nano sensors to keep track of temperature, humidity levels and occupancy patterns in order to optimize heating and cooling settings. Not does this help homeowner save money on their energy bills but it also contributes to reducing their impact, on the environment by lowering their carbon footprint.

Applications of Nanosensors

Nanosensors operate by employing technologies, like optical, electrical or mechanical methods to identify alterations in their surroundings. Their applications are diverse include monitoring air quality as well as detecting illnesses within the human body. As we continue to explore novel uses for these devices the potential, for their utilization seems boundless.

Medical

Nanosensors hold potential to revolutionize the field of medicine enabling real time monitoring of patient health. These miniature devices, smaller than cells can be inserted into the body or attached to the skin to keep track of vital signs identify diseases and even administer medication directly to affected cells.

One compelling application of nanosensors in the realm of medicine is their role in cancer detection. By utilizing nanosensors to identify biomarkers in the bloodstream doctors can diagnose cancer at an earlier stage when it is more manageable. Researchers at the Massachusetts Institute of Technology (MIT) have made strides in developing a non-invasive nanosensor for detecting lung cancer. Furthermore, nanosensors can also be employed to monitor the efficacy of cancer treatments by measuring changes, in tumor size and metabolism.

Environmental

Nanosensors have the potential to completely transform environmental monitoring by providing up to the minute information about the quality of air and water. For example Razzberry, a startup based in the United States has developed portable chemical nanosensors that can detect real time changes in chemicals found in water, soil and the environment. In addition, NT Sensors, a startup offers a variety of nanotube based sensors that can instantly measure the concentration of ions in agricultural samples. These small sensors have the ability to identify pollutants and toxins at levels previously undetectable by traditional methods. This advancement allows for precise and timely responses, to environmental threats.

For example, Nanosensors have the potential to monitor the quality of water in rivers and lakes effectively identifying chemicals and bacteria that can pose a threat to aquatic life and human health. Similarly, when it comes to air quality nanosensors can detect particulate matter and other pollutants enabling us to pinpoint sources of pollution and devise strategies, for emission reduction.

Industrial

Nanosensors find wide use across various industries serving purposes such as checking the quality of food and pharmaceuticals as well as safeguarding workers, in dangerous work settings.

Industries can enhance their efficiency cut down on costs and minimize waste by utilizing nanosensors to monitor processes in time. For instance, in the field of manufacturing nanosensors have the ability to detect defects in products at a stage enabling adjustments to be made before large quantities are produced. This ultimately saves companies both time and money. In a development reported by the American Chemical Society (ACS) Nano in February 2023 researchers successfully created a self powered nanosensor called triboelectric nanosensor (TENS) using an array of mercury sensitive tellurium nanowires. These remarkable nanosensors are capable of detecting trace amounts of mercury ions present, in water or food and providing instant reports on their presence.

Advantages and Limitations

Nanosensors have advantages compared to traditional sensors. Their compact size allows for integration into various devices and systems. Moreover, they consume energy and can operate at higher frequencies enabling faster and more precise data collection. Additionally, nanosensors are capable of detecting and analyzing multiple parameters making them valuable in complex applications like medical diagnostics and environmental monitoring.

Despite these benefits nanosensors do have some limitations. One significant challenge is their susceptibility to factors such as temperature and humidity which can impact the accuracy and reliability of their measurements. Another drawback is the cost involved in manufacturing nanosensors since it can be quite expensive. Furthermore integrating nanosensors, into existing systems can be a process that requires specialized expertise.

Future of Nanosensors

The potential of nanosensors in the future is truly thrilling. Ongoing research and development are expected to bring about advancements in the capabilities of these minuscule sensors. One field that holds promise for nanosensors is healthcare. By detecting diseases at a stage nanosensors have the potential to save numerous lives. Moreover, they can also play a role in monitoring vital signs and offering real time feedback to both doctors and patients.

Another industry that stands to benefit from nanosensors is environmental monitoring. By detecting pollutants and other harmful substances in the air and water nanosensors could aid in preventing disasters and safeguarding wildlife. Additionally, they could be utilized to monitor food safety ensuring that our food supply remains free, from contaminants.

Conclusion

Nanosensors are often play a crucial role in today’s technology offering the benefits of nanotechnology within reach. These tiny devices have the ability to detect even the slightest changes in our surroundings promising a multitude of improvements in various aspects of our lives. Their potential spans, from transforming healthcare practices to protecting and preserving our environment. As scientists explore frontiers in the realm of nanoscale possibilities nanosensors are poised to become even more indispensable shaping the trajectory of our future.

Global Trade Daily, Technology

AI Platform Lending Market Size to Surpass USD 90 Billion by 2033

September 25th, 2023 Research Nester Leave a comment

Gone are the days when borrowers remained anxious for getting loans. With the advent of digital lending platform, it has become easier to automate the decision-making process. These processes have the capability to disrupt the mortgage industry. According to an estimation, a single mortgage approximately takes 46-48 days to close and the lender induce USD 2000 and 2500 per loan. These platforms have eradicated the bottlenecks and made the lending process easier.

In this article, we will discuss more about these AI powered lending platform and the associated benefits. Let us first understand the meaning of AI powered digital lending platform.

What is an AI Powered Digital Lending Platform?

A digital lending platform gives the home buyers and customers an ability to communicate with the lender on with the help of digital channels such as desktop, smartphone, website. The process uses artificial intelligence to automate the user experience, leverage the decision making, introduce personalization.

AI powered digital lending platform is user facing application which incorporates mortgage technology avenues which are helpful in digitizing end to end processes. It connects all the platforms from customer and wholesale communication to title, sales, origination and servicing.

Benefits of the AI Powered Digital Lending Platform: –

According to an estimation by Research Nester, approximately 99.21% of lenders believe that amalgamation of technology can remarkably improve mortgage processes. Various procedures become easy with the help of technology such as:

Obtaining pre-qualification
Submitting documents
Receiving updates
Other mortgage procedures

Some of the prominent benefits of the platform are listed below-

Fraud detection and regulatory compliance

The AI powered platform have decision management system which allows early detection of the fraud and an exhaustive audit documentation. During the regular operations, 3rd party auditing can be an arduous task when it is done manually. With the usage of right kind of software, whatever information obtained, proves to be accurate. Moreover, these software captures accurate information and eradicate errors immediately.

There has been rising cases of malicious activities and vigilance has become extremely important. With lacking proper analysis, various criminal activities can go undetected wherein, artificial intelligence is able analyze large amount of data.

Better investment evaluation

These software has right investment recommendations which are able to match with the right appetite of the institutions. Additionally, they are able to accurately evaluate the client funding proposals which removes the risk of loss. The decisions taken by the software are better than the human analysts. In fact, the investment analysis software makes the processes easier and able to introduce much more variables.

Impeccable customer experience

Customers are continuously looking for the short turnaround time, and decision management system is able to eradicate the time to know various information such as KYC (know your customers). Additionally, with the use of accurate business software, business decisions can be implemented and executed without any lengthy procedures.

Banks claim that they are able to earn customer trust and confidence by eliminating the turnaround time. Furthermore, while making client account the information is correctly set up, this ensures cumbersome experience.

Personalized product recommendation

AI has been utilized by service and product providers for the precision marketing. The service provider is helpful in targeting customers with their unique demographic data, so that there is a maximum chance of conversion. Digital lending platform can utilize the Artificial Intelligence in the same way in order to upsell or cross sell the service or product.

The platform is able to auto recommend mortgage services on the basis of the customer intelligence insights.

AI bots for customer queries

A digital lending platform which is powered by the AI bots is able to automate a huge pool of servicing communication. Whenever customer submits any query or tries to get an information, the chat bot can see through humongous lot of information and give one to one conversation to the customers.

AI platform lending market scenarios: –

The global AI platform lending market is anticipated to garner a significant revenue of USD 90 billion by the end of 2033 by growing at a CAGR of 25.1% of the CAGR. The growth of the market is attributed to the rise in the digital transformation spending worldwide.

Furthermore, the market in North America region is projected to hold the largest share. It is due to the expanding digital banking activities in the region. Also, there is a rise in credit card holders which leads to rising demand of the application.

In a nut shell,

The above parameters are the testimony that the market hold lucrative opportunities for investors. The market has huge scope of growth in the future. Although, a brief study of market is necessary before taking a plunge.

Global Trade Daily

Unveiling the Dynamics of the Asset Management System Market: Trends, Benefits, and Future Prospects

September 1st, 2023 Research Nester Leave a comment

Research Nester is excited to share the findings of study on the burgeoning Asset Management System Market. We expect this sector to experience a growth rate of 14% from 2023 to 2035. One of the drivers behind this growth is the rising importance of effective risk management as well as the increasing demand for automated solutions and the preference, for cloud based options.

Managing assets in todays paced world can be quite overwhelming. Whether its keeping track of inventory or monitoring equipment there are components that require efficient management for a business to thrive. This is where asset management systems come into play. They offer organizations a centralized platform to effectively oversee their assets resulting in saved time and resources. Why are these systems so crucial? Well just imagine the chaos of keeping tabs on all your company’s assets—it would be an absolute nightmare! Asset management systems automate this process making it significantly easier and more efficient for businesses to operate smoothly.

Advancements in Technology

The market for asset management systems is experiencing growth due to various technological advancements that have simplified the tracking and management of assets. Among these advancements RFID technology stands out as a game changer. By utilizing radio waves RFID enables real time asset tracking revolutionizing how companies manage their inventory with accuracy and efficiency. It has been observed that implementing RFID technology in the supply chain can enhance inventory accuracy to a 99.99%. Moreover, manufacturers and distributors who adopt this technology in their operations experience an 84% improvement in shipping and picking accuracy. With real time inventory tracking capabilities companies gain access, to precise information allowing them to optimize their supply chain operations accordingly.

Growing Need for Efficient Asset Tracking

Efficient tracking of assets is crucial for any organization aiming to optimize its operations and cut down on costs. Businesses that successfully implement IT asset management can enjoy savings of up to 32% in the year with consistent savings of at least 6% in each subsequent year. By monitoring assets, in real time companies can identify areas of inefficiency and make informed decisions regarding resource allocation. For instance, a manufacturing company could utilize an asset management system to track the whereabouts and usage of production equipment. By analyzing this data, they can pinpoint which machines are being underutilized and which ones are being overworked enabling them to make adjustments that increase efficiency while minimizing downtime.

In 2022, The Healthcare Industry Emerged as The Force, In the Market Share of Asset Management Systems.

The healthcare industry has experienced a rise in the demand for asset management systems primarily due to the necessity of managing supply chains tracking inventory and ensuring efficient staff operations. According to statistics nurses spend hours each day searching their facilities for vital equipment required to serve their patients. Given that hospital workers typically spend an average of 70-75 minutes looking for assets, it’s not an overstatement to say that having access to critical equipment can make a life or death difference. These systems aid nurses and other healthcare providers, in locating the necessary equipment saving them valuable time and enabling them to provide enhanced patient care. Moreover, these systems assist healthcare organizations in cutting costs by streamlining operations and facilitating asset tracking.

Regional Overview of the Asset Management System Industry in North America

The asset management system market in North America is projected to generate the revenue reaching approximately USD 10 billion by the end of 2035. This can be attributed to the presence of a number of IT companies operating in the region. By the end of 2021, it was anticipated that there would be least 584,000 IT enterprises in the United States alone. Furthermore, advancements in technology such as the Internet of Things (IoT), artificial intelligence (AI) and machine learning have greatly improved the capabilities of asset management systems used by companies. These technological developments have facilitated efficient monitoring and management of assets resulting in increased adoption rates.

Important participants, in the Asset Management System industry include ABB Ltd., Adobe, Brookfield Asset Management, Honeywell International Inc., IBM Corp., Oracle Corporation, Rockwell Automation, Siemens AG, WSP Global Inc., Zebra Technologies Corporation and others.

Global Trade Daily

Activated Carbon Filter Market: Unravelling the Profitable Avenue

August 17th, 2023 Research Nester Leave a comment

The history of activated carbon has been traced back to the early 1800s. This was the procedure that was widely accepted for the treatment of poison. After that, the activated carbon started generating on an industrial scale and people started using it commercially. During the world war activated carbon was used in gas masks worn by American soldiers to protect them from poison. In today’s world, the applications of activated carbon increased, and is extensively used in daily life. In this blog, we will delve deeper into the topic and understand a myriad of applications.

What are activated carbon filters?

These are the activated carbonaceous adsorbents that are synthesized from carbon materials that have very high carbon content as well as lesser content of ash. The small and low-volume pores render the surface for the process of adsorption.

1 gm of activated carbon has approximately 3000 square meters of surface area. The humongous area makes the activated carbon very useful for a wide range of applications. Some examples of source materials are wood, sawdust, bamboo, coconut shell, coir, willow peat, etc.

This is generated by one of 2 methods such as chemical and thermal activation.

Thermal activation: In this process, the source material is formed into activated carbon with the utilization of hot gases. Thermal activation is done through a process that involves the reduction of moisture.
Chemical activation: In chemical activation, chemicals are used to the raw materials before the process of carbonization. Usually, the chemical used is strong acid, base, or salt. The material is then exposed to heat.

Classification of the activated carbon:

These are categorized on the basis of size, industrial application, and, method of preparation. There are some 150 different kinds of activated carbon and some of the common types are listed below:

Powdered activated carbon: They have fine particles which are made up of crushed carbon. The materials which are added are-

PAC particles
Rapid mix basins
Raw water intakes
Clarifiers

Granular Activated Carbon: The granular activated carbon particles are extremely large yet have a smaller external surface area. The particles of GAC are very well suited for the process of adsorption of vapors and gases because these particles diffuse instantly.
Extruded Activated Carbon: These types of particles fuse PAC with the binding agent and generate tough spherical particles. The properties of such particles are low dust content, low-pressure drop, and good mechanical strength.
Bead Activated Carbon: These BAC are formed from petroleum pitch and are similar to EAC particles. These are spherical in shape which makes them ideal for the purpose of water treatment.
Woven carbon: The activated carbon can be woven into technical rayon fiber to fabricate activated carbon cloth. The finished material has carbon filtering properties and it is used in so many applications.

Applications of Activated Carbon:

There are numerous uses of activated carbon filters in various domains as written as follows:

Medical applications: The activated carbon is most widely used in the medical community in the treatment of poisoning and overdoses. The tablets of activated carbon can be bought throughout the world to treat indigestion.
Industrial applications: The activated carbon is utilized in a broad range of applications for manufacturing and industrial contexts. One common application related to the industry is metal finishing. It is utilized as a purification agent.
Chemistry applications: The activated carbon has the property of high adsorption it is widely used to purify solutions of organic chemicals and molecules.
Agriculture applications: In the purpose of livestock production, activated carbon serves as an additive to animal feed. It also acts as a natural pesticide and disinfectant in agricultural fields.
Cosmetic applications: The activated carbon is a popular ingredient in shampoos, face masks, and toothpaste. The cosmetic applications are immense due to their properties of trapping toxins.
Water purification: The water purification process is impeccably done by the activated carbon. These are able to eradicate impurities from large-scale and residential applications.
Distilled Beverage Purification: In the manufacturing of vodka and whiskey, activated carbon filters can remove organic impurities from the beverage.
Air and gas purification: The activated carbon is widely utilized in filtering odors, volatile organic compounds (VOCs), and pollutants from the air trapping gas molecules. Also, activated carbon can be extensively used to absorb and detect hydrocarbons.
Space technology: It is an important component in the life support system in manufacturing spacesuits. It helps in removing the trace contaminants and body odors.

Activated Carbon Filter Market Analysis:

The activated carbon filter market is projected to garner a value of USD 75 billion in the year 2023 and by the year 2033, the market is anticipated to garner 150 billion.

The reason for the growth of the market can be attributed to the following reason:

Rising awareness about water and air pollution
Increasing demand for clean and safe water
Growing adoption of activated carbon filters in the automotive industry and energy sector

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Global Logistics, Global Trade Daily

Market Study On Freight Management Systems: Driving Efficiency and Streamlining Logistics Operations

July 20th, 2023 Research Nester Leave a comment

Research Nester, is thrilled to reveal the insights of the expanding Freight Management Systems (FMS) market, anticipated to grow at 10.69% CAGR from 2022 to 2031. This sector is witnessing progress, fueled by the demand for improved operational effectiveness, cost reduction, and instant visibility, in the worldwide logistics industry.

In today’s world, where the global economy is growing rapidly and supply chains are becoming more intricate it has become increasingly important for businesses in sectors to prioritize efficient freight management. To overcome these challenges, the market for Freight Management Systems provides software solutions that effectively streamline logistics operations enhance visibility of freight and enable a seamless end, to end view of the supply chain.

The Freight Management Systems market is expected to witness growth in the coming years mainly driven by the rise in global trade and the adoption of advanced technologies like AI and IoT. Additionally, there is a growing demand for effective and affordable solutions, for optimizing freight operations. In 2021, global trade hit a record surpassing USD 28.5 trillion. This represents an increase of nearly 13% compared to the pre pandemic level of 2019 and an impressive growth of almost 25% from 2020. The expansion of trade and the trend towards globalization have played a significant role in the substantial rise in the movement of goods, across borders. To aid companies in navigating this landscape FMS offers a range of tools that enable efficient management of transportation networks, optimization of routes and ensuring prompt delivery of goods.

Furthermore, the rising requirement for transportation and logistics coordination along with the growing necessity for better insight, into supply chains are anticipated to fuel the expansion of the Freight Management Systems Market. According to a report released in 2021, around 41% of supply chain executives have shown interest in investing in real time visibility for their supply chain. Moreover, it is projected that by 2026, over 76% of companies specializing in supply chain management software will integrate analytics, artificial intelligence and data science into their solutions. More and more companies are turning to automation to cut down on expenses and improve the effectiveness of their supply chain processes. By implementing FMS companies gain an insight into their supply chain operations allowing them to make smarter choices regarding sourcing materials and optimizing their transportation and logistics network.

In 2022, road freight transportation took the lead in the global freight management system industry market share. This was primarily driven by the growing demand for reliable delivery of goods the surging popularity of e commerce and the requirement, for effective transportation of merchandise. By 2050, it is anticipated that the transportation of freight on roads will reach 39 trillion tonne kilometers, which is a significant rise, from the 6.300 trillion tonne kilometers recorded in 2010. In addition, road transportation offers the benefit of reaching locations and the capability to carry a wide range of goods including both hazardous materials and temperature sensitive products. That’s why many e-commerce and logistics companies prefer using road freight as their mode of transportation.

The transportation industry is expected to capture high share of the North American freight management systems market owing to the various government initiatives aimed at developing the infrastructure sector. As of 2022 the transportation industry in the United States is valued at USD 1.35 trillion, and over 4.28 million businesses are operating in transportation and warehousing. Moreover, the government has introduced programs like the Fixing Americas Surface Transportation (FAST) Act, which has allocated funds for infrastructural undertakings and the advancement of improved freight management systems. Consequently, this has led to an increased need for systems, in the market of North America.

Key players, in the Freight Management Systems sector consist of MCLEOD SOFTWARE, Freightview, Freight Management Systems Inc., Linbis, Inc., Logisuite Corporation, DreamOrbit Softech Private Limited, THE DESCARTES SYSTEMS GROUP INC, Oracle, Werner Enterprises, MercuryGate, Blue Yonder Group, Inc., Manhattan Associates, E2open, LLC, TMC C.H. Robinson Worldwide, Inc.), SAP SE, and others.

The Growing Green Hydrogen Market: A Sustainable Energy Revolution

Market Overview

What are Nanosensors?

How do Nanosensors Work?

Market Overview and Growth Drivers

Applications of Nanosensors

Advantages and Limitations

Future of Nanosensors

Conclusion

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