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TeamViewer Accelerates Smart Factory Innovation with Strategic Investments in Manufacturing Analytics and IoT

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Global Trade Daily, Technology

TeamViewer Accelerates Smart Factory Innovation with Strategic Investments in Manufacturing Analytics and IoT

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TeamViewer, a global leader in remote connectivity and workplace digitalization solutions, has announced significant investments in two innovative smart factory companies, Sight Machine and Cybus. This strategic move, involving a low double-digit million EUR investment, underscores TeamViewer’s commitment to advancing the digital transformation of industrial workspaces and the convergence of Information and Operation Technology (IT & OT).

Investment in Sight Machine – Unlocking Data-Driven Manufacturing

Sight Machine, a U.S.-based company and Microsoft partner, offers a manufacturing data platform that collects, structures, and analyzes data from manufacturing operations. Leveraging AI applications, Sight Machine provides insights into areas such as quality control, overall plant performance, and predictive maintenance. This investment establishes TeamViewer as a major shareholder in Sight Machine, with representation on its Board of Directors. The collaboration aims to enhance manufacturing efficiency through a joint product offering and a collaborative go-to-market strategy.

Jon Sobel, Co-Founder and CEO at Sight Machine, expressed enthusiasm for the collaboration, highlighting the shared commitment to leveraging data’s power for shaping the future of smart factories.

Investment in Cybus – Advancing Industrial IoT Solutions

Cybus, a German software company specializing in industrial IoT solutions for large-scale manufacturing environments, has developed a data hub that facilitates seamless communication between diverse devices, machines, and processes in smart factories. TeamViewer, as the lead investor in Cybus’s current financing round, will actively collaborate and provide strategic guidance as part of the advisory board. This partnership aims to address the challenges of industrial digitalization and enhance manufacturing efficiency.

Peter Sorowka, CEO at Cybus, emphasized the significance of partnering with TeamViewer to tackle the complexities of industrial digitalization and collectively contribute to improving manufacturing processes.

Fostering Evolution in Smart Factory Solutions

These strategic investments in Sight Machine and Cybus position TeamViewer as a key player in enterprise software at the intersection of manufacturing infrastructure, IT systems, and data analytics. Oliver Steil, CEO at TeamViewer, highlighted the logical progression of investing in shop floor digitalization and factory connectivity, underscoring TeamViewer’s role as a catalyst in shaping the future of industrial digitalization.

TeamViewer’s comprehensive solutions, spanning IT and embedded devices, have established the company as a standard in remote connectivity. This move into smart factory solutions aligns with TeamViewer’s vision to drive innovation and productivity across diverse industries.

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Global Logistics, Global Trade Daily, News, Technology

Outrider Unveils Advanced AI-Powered Perception Tech for Enhanced Yard Automation

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Outrider, a leader in autonomous yard operations for logistics hubs, has announced the latest release of its AI-driven perception technology, setting a new standard for autonomous yard performance and safety. Trained on millions of data points from Fortune 500 customer distribution yards, Outrider’s yard automation solution demonstrates an understanding of, anticipation of, and interaction with the diverse array of fixed and moving elements within a yard. The updated perception system aims to achieve critical safety and performance milestones for commercial driverless operations in 2024.

Andrew Smith, Outrider Founder and CEO, emphasized the complexity of distribution yards as outdoor environments, stating that Outrider’s autonomous system is designed to seamlessly operate alongside various actors, including yard trucks, semi-trucks, trailers, delivery trucks, golf carts, pallets, and personnel. The latest perception technology enhances the efficiency and safety of Outrider’s autonomous system in moving customer trailers and containers.

Outrider’s advanced perception technology identifies specific characteristics of yard actors, such as orientation, position, and velocity, anticipates their trajectories, and responds using predictable, human-like behaviors. Deep-learning models, based on a vast dataset collected from diverse distribution yards, enable the autonomous system to continuously improve its intelligence and precision in automating yard tasks.

Luciano Spinello, Senior Director of Autonomy and Artificial Intelligence at Outrider, highlighted the system’s continuous learning from real-world experiences, drawing from the industry’s largest dataset to operate in more complex traffic scenarios and move trailers with the highest degree of safety and speed over 24-hour periods.

To facilitate the latest perception capabilities, Outrider upgraded its multi-modal sensor platform on each autonomous yard truck, increasing range and sensor data tenfold. This enhancement supports critical safety and performance objectives for scaled driverless operations. Outrider has been collecting perception-based data points across various distribution yards, contributing to the safety and efficiency of operations at each customer site.

The release of the latest perception technology complements Outrider’s industry-firsts and patented innovations, enabling fully autonomous trailer movement, including hitching, backing, trailer brake line connection, and yard inventory tracking. Outrider’s breakthrough year in 2023 includes the addition of trailer inventory tracking technology, a 20% expansion of its engineering workforce in Europe and Latin America, and the announcement of a $73 million Series C financing round, bringing total funding to $191 million.

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Archives, Uncategorized

Exploring the Growth Potential of the 5G Systems Integration Market Report, 2024 to 2034

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The global 5G system integration market is anticipated to reach a valuation of US$ 15.6 billion in 2024, driven by 5G in smart cities. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 28.8% between 2024 and 2034, and reaching a total valuation of approximately US$ 195.8 billion by 2034.

One of the major factors contributing to the growth of the market is the integration with legacy systems. Many industries have existing legacy systems that need to be integrated with new 5G infrastructure. System integrators play a crucial role in ensuring compatibility and smooth coexistence between legacy and modern systems.

The integration of edge computing with 5G networks for localized data processing and reduced latency creates opportunities for system integrators to design and implement solutions that leverage the capabilities of edge intelligence.

Telecom service providers undergoing digital transformation to adapt to the 5G era require system integration services to integrate new technologies, automate processes, and enhance overall operational efficiency.

System integrators can contribute to improving the overall user experience by ensuring the seamless integration of 5G networks with applications and services, optimizing performance, and minimizing disruptions.

System integration is increasingly important in vertical industries such as healthcare, manufacturing, and transportation, where 5G is utilized for industry-specific applications. Customized solutions that integrate seamlessly with existing processes are in demand.

The move towards virtualized network functions and software-defined networking architectures requires comprehensive system integration. The trend allows for greater flexibility and scalability in 5G network deployments.

Key Takeaways from the Market Study

  • Global 5G System Integration market was valued at US$ 12.3 billion by 2023-end.
  • From 2019 to 2023, the market demand expanded at a CAGR of 26.0%.
  • The market in Australia is expected to expand at a CAGR of 32.3% through 2034.
  • By vertical, the IT and Telecom segment to account for a share of 24.5% in 2024.
  • From 2024 to 2034, the 5G system integration market is expected to flourish at a CAGR of 28.8%.
  • By 2034, the market value of 5G system integration is expected to reach US$ 195.8 billion.

“Digital twins, virtual replicas of physical objects or systems, are being used for monitoring and simulation in various industries. System integrators can help integrate digital twins with 5G networks for real time monitoring and analysis,” – says Sudip Saha the managing director and co-founder at Future Market Insights

Competitive Landscape

Recent Developments

  • In 2021, Ericsson unveiled its intelligent automation platform, a cutting-edge service management and orchestration product designed to enable intelligent automation for any mobile network. Expanding upon its existing portfolio, which includes the cloud native dual mode 5G Core and the Cloud RAN portfolio, the introduction of the Ericsson intelligent automation platform and a suite of rApps represents a strategic advancement toward building the networks of the future.
  • In the same year, NEC Corporation and its wholly owned subsidiary, Netcracker, revealed the successful deployment of their 5G Core and comprehensive Digital BSS/OSS on Amazon Web Services. The deployment is designed to effectively orchestrate and automate the delivery of 5G digital services.
Global Trade Daily, Technology

Making Dual-Use Tech an Economic Priority

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Emerging technologies like global positioning satellites, quantum computing, and artificial intelligence hold immense value for commercial and defense applications. When these technologies are developed for dual use, they can help our country stay competitive – and protect our own national security in the process.

Dual-use tech can create jobs, keep our country competitive, and let Americans live more comfortably. Meanwhile, those same emerging technologies and capabilities can help people survive on the frontlines and thwart cyber attacks.

For these breakthroughs to continue, the global investment community must, frankly, join the growing community of venture capital outfits in financing those early-stage companies focused on dual-use technology, instead of just focusing on silos of ‘defense’ and ‘civilian’ tech.

Since the 1950s, dual-use technologies have become key for advancing commercial sectors while bolstering national defense. Every day, people unknowingly use items developed by the military. A few of the biggest contributions are things like the first version of the internet, GPS systems, and microwaves. However, the tempo of innovation is starting to slow as startups focusing on dual-use technology struggle to find enough funding to benefit civilians and the military.

While federal initiatives have been made to direct funding towards dual-use startups, the private sector can commit higher amounts of capital in a shorter period. As federal entities struggle with red tape, venture capitalists can pledge millions towards dual-use commercial and defense technology.

Recently, a fund of over $120 million was established to support entrepreneurs working on the applications of AI, space, autonomy, and cybersecurity. If completed at a wider scale, these investments would sustain dual-use breakthroughs for the long term. But the interest in defense tech startups isn’t high enough to make this a reality.

Last year, many funding milestones were made for defense tech companies. One raised almost $1.5 billion for its Series E round, and this was the fourth-largest VC-backed funding deal that year. However, defense tech startups saw a measly $2.1 billion in total investments versus cybersecurity counterparts that garnered over $10 billion.

The divide shows signs of shrinking as venture capitalists are starting to see the benefits of dual-use tech. Not only are dual-use startups faster and easier to scale, but they hold more promise for generating revenue earlier.

The only problem preventing many venture capitalists from flocking to dual-use innovations lies in a difference of values. Respect for privacy and freedom has been an undercurrent in the tech world since its inception. Attempting to merge future-focused Silicon Valley startups with government partners results in conflicts like Google’s employee protest against its Pentagon contract.

However, the future can be brighter if we take a wider look at the duality of this niche.

Instead of proposing ‘winning’ concepts that exist in a vacuum that affords limited possibilities for profitability and usage, dual-use technology allows investors and companies to double their chances of success and impact. By thinking with two audiences in mind, companies can scale rapidly, employing local talent, and defense leaders can protect our nation’s most vulnerable assets.

Venture capitalists have always fueled innovation through strategic investments and additional services like mentorship. For example, Ultratech Capital Partners, – a member of the US DoD Trusted Capital Marketplace program, provides companies critical to national security with access to funding and mentorship, from inception to emerging technological breakthrough realization.

Once the mindset toward dual-use tech shifts into a positive realm, the potential for success is limitless. Make no mistake. This sector will enable us to compete as a nation and to enhance ourselves as a society, which every American should find crucial.

By prompting the private sector to drive investment and development, our citizens will dictate what inventions are later integrated for defense. If financers intentionally avoid dual-use ventures, the space will become stunted in capital and value, leading to foreign dependence and vulnerabilities.

As the arena of emerging technologies grows and diversifies, dual use will remain a highly profitable backbone of the industry. Venture capitalists who want to receive any of the financial or social rewards of accelerating development and the launch of new products will have to get involved. A fund dedicated to dual-use technologies could be created, or existing startup accelerators and firms could prioritize the sector.

If dual-use technologies become another responsibility for the government to support, the value for civilians will plummet. To expect any riches, investors must actively support these startups in finding funding and creating profitable business models.

The global investment community has the connections and knowledge that many of these teams do not. If investors spent a little time researching the market and providing financial and business resources, they would diversify their portfolio with highly profitable ventures.

Dual-use technology is not going anywhere. Countries across the globe are taking an interest in this sector, whether they are looking to create violent machines or to elevate humanity. It may be hard to tell the difference, but the private sector should not focus on these pitfalls.

Investors can turn their attention to out-innovating foes rather than monitoring their behaviors. That way, startups receive the capital they need to navigate regulatory labyrinths and start making sales that will improve everyone’s lives.

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Global Trade Daily, Technology

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

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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 

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Global Logistics, Global Trade Daily, Warehousing

Smart Warehousing Market to Surpass USD 122 Billion by 2036

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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. 

 

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Global Trade Daily

Cooling the Heat: A Journey Through Data Center Cooling Systems

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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

 

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Global Trade Daily, Market insight, Technology

Internet of Everything (IoE) Market is Expected to Reach US$ 5.0 billion by 2033

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The internet of everything (IoE) market is estimated to be worth US$ 1.2 billion in 2023 and is projected to be valued at US$ 5.0 billion in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 15.2%. The rapid increase in connected devices, including smartphones, sensors, wearables, and IoT devices, is expected to boost the IoE growth during the forecast period.

The proliferation of 5G, technological advances in telecommunication, and increased use of machine learning artificial intelligence (AI) are anticipated to drive market growth. The growing application of IoE in healthcare drives the market growth during the forecast period. IoE improves patient care through remote monitoring, telehealth, and wearable devices. It allows healthcare providers to offer more accessible and efficient services.

The growth of urban populations and the growing need for smarter, more sustainable cities boost the market demand. IoE is used in smart city initiatives, improving urban services, transportation, energy management, and public safety. The proliferation of consumer IoT devices, such as smart speakers, home automation systems, and wearables, and increased consumer awareness and familiarity with IoE concepts propel the market’s growth. Increasing government investment in IoE projects to improve public services, infrastructure, and overall quality of life for citizens further fuels the market growth.

Key Takeaways

  • From 2018 to 2022, the Internet of Everything (IoE) market demand expanded at a CAGR of 12.8%
  • Based on application, the smart cities segment is expected to account for a market share of 56.6% during the forecast period.
  • Global Internet of Everything (IoE) demand in Germany is predicted to account for a value share of 34.6% from 2023 to 2033.
  • In the United States, the market is expected to account for a CAGR of 15.1 % between 2023 and 2033.
  • A growth rate of 14.6% is estimated for the healthcare segment over the forecast period.
  • China is projected to expand by a value CAGR of 14.5% between 2023 and 2033.
  • By 2033, India’s Internet of Everything (IoE) market is anticipated to record a CAGR of 14.8% during the forecast period.

“The increasing application of big data and machine learning technology and increased use of connected devices are the major factors boost market growth,” says an FMI analyst. – opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.

Competitive Landscape

To grow their market share, increase profitability, and stay competitive in the Internet of Everything (IoE) market, players have used new product launches and business expansion as key strategies. Some of the recent developments in the market are discussed below.

  • Cisco is a major player in the IoE space. The company has been developing IoE solutions for industries like healthcare, manufacturing, and smart cities. They have also been working on enhancing their networking and cybersecurity capabilities to support IoE deployments.
  • GE has been involved in the Industrial Internet of Things (IIoT) space, using data analytics and machine learning to optimize industrial processes, improve asset performance, and reduce downtime.
  • Microsoft provides various cloud and IoT services through Azure, enabling businesses to develop and deploy IoE solutions. They have been expanding their partnerships and offerings in the IoE ecosystem.
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Global Trade Daily, Technology

Thomson Reuters Introduces Cutting-Edge AI and Automation Features to Transform Tax and Audit Processes Globally

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Thomson Reuters, the renowned global content and technology company, has unveiled a series of updates to its tax, accounting, and audit products at its annual customer event, SYNERGY. The enhancements across SurePrep TaxCaddy, Cloud Audit Suite, and ONESOURCE aim to automate tax workflows, bringing increased efficiency and time savings for professionals in firms and multinational corporations. Notably, Thomson Reuters is integrating generative AI capabilities into its tax products, such as Checkpoint Edge and ONESOURCE Global Trade Management.

Piritta van Rijn, Head of Accounting, Tax & Practice at Thomson Reuters, emphasized the challenges tax industry professionals face due to the rapid pace of regulatory changes and hiring difficulties. The newly introduced capabilities leverage AI to automate tax preparation, allowing professionals to focus on client service, business growth, and cultivating better workplaces.

SurePrep TaxCaddy, a key component of Thomson Reuters’ tax product suite following the acquisition of SurePrep, is set to launch auto-categorization capabilities within its intuitive client portal. This feature simplifies document and data gathering, enabling taxpayers to upload multiple documents seamlessly. The incorporation of AI and machine learning technology will auto-categorize these documents, streamlining the review process for tax professionals. The auto-categorization feature is expected to be available to US customers in 2024.

To address the challenge of auditing large volumes of data, Thomson Reuters will introduce ‘smart analysis’ capabilities in Cloud Audit Suite. This enhancement will apply AI to streamline data ingestion, identify potential anomalies, and automate testing and confirmations, thereby improving efficiency and quality throughout the audit process. The smart analysis feature is in beta in the USA starting November 2023, with general availability scheduled for 2024.

The Checkpoint Edge AI Assistant, currently in beta in the USA and set for general availability in 2024, utilizes generative AI to assist tax and accounting professionals in tax research. This tool accelerates the orientation to tax topics and facilitates quicker access to answers, utilizing trusted content with credible citations.

Thomson Reuters is also addressing the compliance needs of multinational corporations with new capabilities in the ONESOURCE suite. The integration of generative AI technology into ONESOURCE Global Trade Management will expedite product classification and mapping for corporate tax and trade professionals, ensuring compliance with changing regulations across multiple countries. Additionally, the ONESOURCE E-Invoicing, now generally available globally, simplifies compliance with electronic invoicing regulations in over 80 countries.

Ray Grove, Head of Corporate Tax and Trade at Thomson Reuters, highlighted the significance of these capabilities in automating compliance around global minimum tax requirements and simplifying e-invoicing. These developments are poised to be game-changers, allowing corporations to build their businesses and support customers while confidently meeting global compliance obligations. Thomson Reuters continues to be at the forefront of innovation, providing comprehensive solutions to navigate the evolving landscape of tax and audit processes worldwide.

manufacturing
Global Trade Daily, Technology

The Biggest Manufacturing Industry Trends Heading Into 2024

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It’s been nearly thirty years since two Northwestern University professors unveiled the first cobot – a groundbreaking industrial robot engineered to collaborate safely with humans in the same workspace.

At the time, many brushed it off as a mere novelty, perhaps a glimpse into a distant future. Yet, here we are, on the cusp of 2024, and cobots, along with other cutting-edge manufacturing innovations, are no longer just future concepts – they’re defining our present.

As we gear up for another year, the excitement around the trends shaping our industry is bubbling. Let’s dive into what’s hot and uncover ways you can harness these changes for a prosperous year ahead!

Embracing Sustainable Manufacturing

Our planet’s health is at a critical juncture. And the stats are jarring: industries account for nearly 28% of all greenhouse gas emissions. But there’s hope. Many companies are slashing their emissions by optimizing their energy use and turning to renewable sources.

Eco-Friendly Materials on the Rise

Gone are the days of single-use plastics reigning supreme. Biodegradable, recyclable, and sustainably sourced materials are all showing an uptick in interest. By 2029, the sustainable plastic packaging market is expected to hit $137 billion.

Recycling Isn’t Just an Afterthought

Recycling is becoming a core part of the manufacturing process. Innovations in recycling technology mean that waste isn’t just reduced but repurposed. In fact, some top manufacturing companies right now are producing more with recycled materials than with new ones.

Pro Tips for Manufacturers

  • Reevaluate your supply chain.
    Where can you source more sustainable materials?
  • Rethink packaging.
    Can it be reduced, reused, or recycled?
  • Invest in green tech.
    Consider upgrades that lower energy consumption or tap into renewable energy sources.

The shift toward sustainability is more than a feel-good move – it’s smart business. Companies that embrace these changes are future-proofing their operations and building trust with a new generation of consumers ready to reward their eco-efforts.

The Promise of Smart Manufacturing

Integrating tech like IoT, AI, and big data at the core of every manufacturing process completely revolutionized the ways we produce.

Machines That Think and Predict

With machine learning and AI, equipment can predict when it might fail or require maintenance.

The Internet of Things (IoT) sector has also stretched beyond smart home gadgets. It’s making manufacturing floors hum with synced devices, real-time data sharing, and seamless operations.

These innovations can be a game-changer when it comes to reducing downtime dips and increasing productivity.

Big Data, Bigger Insights

Think of data as the goldmine of the 21st century. With advanced analytics, manufacturers are uncovering patterns, predicting trends, and making informed decisions like never before.

Surprisingly, recent studies show that companies utilizing big data are 58% more likely to surpass their revenue targets.

It might sound odd, but look at the recent marketing trends around Vitamin C. The rise in its demand is a result of understanding consumer behavior, predicting interest, and tailoring production to match. That’s smart manufacturing in action.

Pro Tips for Manufacturers

  • Start small.
    Introduce one piece of tech at a time, understand it, and then scale.
  • Train your team.
    Ensure everyone’s on board and understands the benefits.
  • Stay updated.
    The tech landscape changes fast. Keep an ear to the ground and be ready to adapt.

Diving into smart manufacturing might feel like a giant leap, but it’s one that promises great returns. With the right approach, tools, and mindset, there’s no limit to what we can achieve. 

Personalization in Production

With today’s consumers hungry for unique, tailored products, manufacturers are constantly reimagining their processes to offer that touch of personalization.

The challenge is creating products that resonate and speak directly to a consumer’s needs and tastes rather than manufacturing at large.

Customization Pays Off

The numbers don’t lie. Recent surveys suggest that 62% of businesses recognize the advantages of personalization, with most highlighting its potential to help retain existing customers. That’s the result of listening to your audience.

Tech to the Rescue

Thanks to advancements in tech, personalization at scale is already a reality. 3D printing, for instance, allows for rapid prototyping and custom production runs. And the best part is that it’s becoming more affordable by the day.

Pro Tips for Manufacturers

  • Understand your audience.
    Use feedback loops, surveys, and social media to gauge what they truly want.
  • Invest in flexible tech.
    Equipment that can easily shift between tasks is invaluable in a personalized production environment.
  • Collaborate with marketing.
    They’ve got all of the valuable insights on consumer trends. Use it.

Shifting Supply Chain Strategies

With global trade tensions and unexpected disruptions (think pandemics, geopolitical issues, and inflation), there’s a new kid on the block: regional supply chains.

Businesses are now looking closer to home, ensuring quicker responses and reducing transportation emissions. They also believe that new tech and digital transformation are the future of stable supply chains.

On-shoring Gains Momentum

For many businesses, it’s not just about making it closer to home but about making it AT home. On-shoring, or bringing manufacturing back to a company’s home country, is on the rise. The benefits include boosting local employment, tighter quality control, and a significant reduction in shipping times.

Diversifying to Stay Alive

The mantra here is simple: don’t put all your eggs in one basket. By diversifying suppliers and not relying heavily on a single source, companies can better weather unexpected supply shocks. A study showed that having a diversified supply chain can significantly help to bounce back faster from disruptions.

Pro Tips for Manufacturers

  • Audit your current chain.
    Identify vulnerabilities and potential choke points.
  • Foster strong relationships.
    Build partnerships with suppliers, ensuring mutual growth and stability.
  • Embrace technology.
    Tools like AI can help predict supply chain disruptions and suggest alternative strategies in real time.

Navigating the complexities of modern supply chains might seem daunting, but with a proactive approach and a keen eye on the future, we can create systems that are efficient and resilient.

The Push Towards Direct-to-Consumer (D2C) Models

There’s a shift afoot in the manufacturing world. No longer happy to stay behind the scenes, many manufacturers are making a direct connection with the end consumer. This move towards D2C models is redefining how goods are produced, marketed, and sold.

By connecting directly with consumers, manufacturers can gather firsthand feedback, refine products, and tailor offerings more accurately. The direct link leads to increased brand loyalty and trust.

Ecommerce and Digital Platforms Lead the Way

With the rise of online shopping, manufacturers have a golden opportunity to set up digital storefronts. These platforms allow for instant feedback, dynamic pricing, and a chance to tell the brand story directly.

Streamlined Supply Chains

The D2C model cuts out middlemen, resulting in a more streamlined and efficient supply chain. This often translates to cost savings, faster delivery times, and fresher products for consumers.

Pro Tips for Manufacturers

  • Develop a strong online presence.
    This includes an easy-to-navigate ecommerce platform and active social media engagement.
  • Understand your consumer.
    Utilize analytics and data to tailor offerings and marketing strategies.
  • Prioritize customer service.
    Direct engagement means direct feedback, both good and bad. Be ready to address concerns and enhance the consumer experience.

By embracing this model, manufacturers can forge stronger ties with consumers, innovate faster, and stake their claim in the retail landscape.

Embracing Workforce Diversity and Inclusion

Diversity is the lifeline of modern businesses, manufacturing included. By welcoming a myriad of perspectives, experiences, and talents, companies enrich their work culture and sharpen their competitive edge.

Diverse teams have proven to be more innovative, adaptable, and resilient. It’s not just about optics; it’s about results. Companies with diverse leadership show a 19% higher revenue due to innovation compared to their less diverse counterparts.

Inclusion Goes Beyond Hiring

Sure, recruiting a diverse workforce is crucial. But that’s just the starting point. Creating an inclusive environment where everyone feels valued, heard, and empowered is the real goal.

Challenges in Manufacturing

While strides have been made, the manufacturing sector still grapples with representation issues, especially concerning women and minorities. But the tide is turning, with more companies championing diversity initiatives than ever before.

Pro Tips for Manufacturers

  • Revisit recruitment strategies.
    Consider blind hiring or partnerships with organizations that promote diversity.
  • Continuous education.
    Host workshops, training sessions, and discussions to build awareness and understanding.
  • Celebrate diversity.
    Recognize different cultures, backgrounds, and experiences within your team.

The path to true diversity and inclusion isn’t without its challenges. But with commitment, openness, and the right strategies, manufacturers can shape a work environment where everyone thrives.

Final Thoughts

As we usher in 2024, change is the only constant in the vibrant manufacturing landscape.

But amid these modern shifts, one thing remains certain: manufacturers who adapt, innovate, and directly engage with the evolving demands will not only survive but thrive.

So, let’s embrace these trends, foster a spirit of inclusivity, and redefine our industry’s future.