Why Are Drone Manufacturers Aggressively Marketing to Civilians?

 For the longest time, drones, technically unmanned aerial vehicles (UAVs), have been used strictly by militaries. They use them for monitoring border areas, patrolling, keeping a watch on enemy installations, tracking smuggling and other illegal activities, controlling crowds, and carrying out search and rescue operations. Moreover, governments have strictly regulated drone usage by civilians till now out of fear of them being used to send supplies to enemies and even carrying out attacks and bombing.

However, with the formulation of proper rules and guidelines for normal people to use UAVs in recent times, P&S Intelligence expects the consumer drones market to witness the massive growth in the years to come. Drones are being increasingly used for non-military purposes in agriculture & forestry, energy & utilities, construction, oil & gas, logistics & transportation, mining & quarrying, insurance, aviation, retail, government, and education sectors. Moreover, even individuals are using UAVs for photography and videography purposes.

For instance, in the agriculture & forestry sector, they are being used for soil analysis, pesticide and insecticide spraying, crop health monitoring, cattle monitoring, and drainage assessment. Similarly, in the media & entertainment sector, they are being used to broadcast live events and shoot movies and other TV shows from newer angles. Similarly, several people are using UAVs for vlogs, for uploading on YouTube and other social media websites. The construction sector utilizes these platforms for pre-construction site analysis, construction monitoring, and creating 3D models of the site under development.

Applications of drones in the oil & gas sector include pipeline and oilfield monitoring, offshore rig monitoring, spill detection and monitoring, emergency evacuation monitoring, and hazard monitoring. Moreover, in the transportation & logistics sector, drones are being used to scan the QR and RFID codes on shipping containers at container terminals and of packages at warehouses. Moreover, they are being used to inspect locomotive and wagon producing facilities and rail yards.

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Why Are Drone Manufacturers Aggressively Marketing to Civilians?

 For the longest time, drones, technically unmanned aerial vehicles (UAVs), have been used strictly by militaries. They use them for monitoring border areas, patrolling, keeping a watch on enemy installations, tracking smuggling and other illegal activities, controlling crowds, and carrying out search and rescue operations. Moreover, governments have strictly regulated drone usage by civilians till now out of fear of them being used to send supplies to enemies and even carrying out attacks and bombing.

However, with the formulation of proper rules and guidelines for normal people to use UAVs in recent times, P&S Intelligence expects the consumer drones market to witness the massive growth in the years to come. Drones are being increasingly used for non-military purposes in agriculture & forestry, energy & utilities, construction, oil & gas, logistics & transportation, mining & quarrying, insurance, aviation, retail, government, and education sectors. Moreover, even individuals are using UAVs for photography and videography purposes.

For instance, in the agriculture & forestry sector, they are being used for soil analysis, pesticide and insecticide spraying, crop health monitoring, cattle monitoring, and drainage assessment. Similarly, in the media & entertainment sector, they are being used to broadcast live events and shoot movies and other TV shows from newer angles. Similarly, several people are using UAVs for vlogs, for uploading on YouTube and other social media websites. The construction sector utilizes these platforms for pre-construction site analysis, construction monitoring, and creating 3D models of the site under development.

Applications of drones in the oil & gas sector include pipeline and oilfield monitoring, offshore rig monitoring, spill detection and monitoring, emergency evacuation monitoring, and hazard monitoring. Moreover, in the transportation & logistics sector, drones are being used to scan the QR and RFID codes on shipping containers at container terminals and of packages at warehouses. Moreover, they are being used to inspect locomotive and wagon producing facilities and rail yards.

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Soaring Construction Activities Fueling Demand for HVAC Maintenance Services in Qatar

The expansion of the construction industry is one of the biggest factors responsible for the soaring demand for heating, ventilation, and air conditioning (HVAC) services in Qatar. Moreover, with the sharp surge in infrastructural development and construction activities, the HVAC industry is exhibiting rapid expansion in the country. The industry is predicted to grow at nearly 7.7% rate between 2018 and 2023. Furthermore, the construction industry registered a year-on-year growth of 20% from 2017 to 2018.

The industry was being driven by Qatari government’s National Vision 2030, under which, the government plans to develop non-oil sectors in the country in order to reduce the country’s reliance on the oil and gas industry and to develop infrastructure for hosting the FIFA World Cup 2022. Some of the major construction projects launched recently in the country are Sheraton Park (2016), Hamad International Airport (2014), and Sidra Medical Research Centre (2018).

Read Full Report: Qatar HVAC Maintenance Service Market Revenue Estimation and Growth Forecast Report

The country also hosted the World Athletics Championships in 2019, which created lucrative growth opportunities for the HVAC maintenance service providing organizations in the country. This event attracted a large number of tourists and was responsible for the construction of several new hotels and resorts. Moreover, it fueled the expansion of the tourism and hospitality sector and the food and beverage industry in the country. This pushed up the demand for HVAC systems and associated maintenance services in the country.

Due to the aforementioned factors, the Qatar heating, ventilation, and air conditioning (HVAC) maintenance service market is demonstrating rapid expansion. Out of the heating, ventilation, and cooling systems, the sales of the cooling systems were found to be the highest in the country in the past years. Variable refrigerant flow (VRF), split units, room ACs, ducted split/packaged units, and chillers are the most widely used cooling systems in the country. 

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Soaring Construction Activities Fueling Demand for HVAC Maintenance Services in Qatar

The expansion of the construction industry is one of the biggest factors responsible for the soaring demand for heating, ventilation, and air conditioning (HVAC) services in Qatar. Moreover, with the sharp surge in infrastructural development and construction activities, the HVAC industry is exhibiting rapid expansion in the country. The industry is predicted to grow at nearly 7.7% rate between 2018 and 2023. Furthermore, the construction industry registered a year-on-year growth of 20% from 2017 to 2018.

The industry was being driven by Qatari government’s National Vision 2030, under which, the government plans to develop non-oil sectors in the country in order to reduce the country’s reliance on the oil and gas industry and to develop infrastructure for hosting the FIFA World Cup 2022. Some of the major construction projects launched recently in the country are Sheraton Park (2016), Hamad International Airport (2014), and Sidra Medical Research Centre (2018).

Read Full Report: Qatar HVAC Maintenance Service Market Revenue Estimation and Growth Forecast Report

The country also hosted the World Athletics Championships in 2019, which created lucrative growth opportunities for the HVAC maintenance service providing organizations in the country. This event attracted a large number of tourists and was responsible for the construction of several new hotels and resorts. Moreover, it fueled the expansion of the tourism and hospitality sector and the food and beverage industry in the country. This pushed up the demand for HVAC systems and associated maintenance services in the country.

Due to the aforementioned factors, the Qatar heating, ventilation, and air conditioning (HVAC) maintenance service market is demonstrating rapid expansion. Out of the heating, ventilation, and cooling systems, the sales of the cooling systems were found to be the highest in the country in the past years. Variable refrigerant flow (VRF), split units, room ACs, ducted split/packaged units, and chillers are the most widely used cooling systems in the country. 

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How Is Growing E-Commerce Sector Driving South Africa E-Cigarette Market?

 

The South African e-cigarette market is growing due to the rising health consciousness in the country and increasing sale of such products via online platforms. As a result of these factors, from $20.7 million in 2018, the size of the market is expected to witness an 18.6% CAGR during the forecast period (2019–2024), to reach $62.0 million by 2024. Such devices do not contain tobacco, but a vial filled with a liquid containing nicotine and other flavors.

Vape mod, vaporizer, cig-a-like, and T-vapor are the various categories under the product type segment. Among these, during the historical period (2014–2018), the South African e-cigarette market was dominated by the vaporizer category, as these devices are cheap, produce dense mist, and are compatible with numerous flavors. During the forecast period, the highest CAGR in the market will be experienced in the T-vapor category. This is attributed to the ability of these variants to produce smoke similar to a conventional cigarette, which is why habitual smokers are switching to them.

Browse detailed report - South Africa E-Cigarette Market Analysis and Demand Forecast Report

On the basis of distribution channel, the South African e-cigarette market divisions are vape shop, tobacconist, hypermarket/supermarket, online, and others. Among these, the tobacconist division held the largest share in 2018, as these channels offer an array of premium products, including e-cigars, e-cigarettes, and e-liquids, along with the conventional variants. Till 2024, the online category will witness the most-rapid advance owing to the convenience they offer, such as the ability to check out and compare multiple products, discounts and offers, electronic payments, and free doorstep delivery.

The major trend in the South African e-cigarette market is flavored liquids. Presently, tobacco companies are offering a range of flavors in e-liquids, such as mint, chocolate, menthol, bubble gum, cola, and fusions of multiple flavors, to attract customers, primarily the youth and young adults. This is consistent with the finding that almost 20% of the South African smokers take up the habit after 15 years of age. Apart from attracting new smokers, such flavors are also encouraging the users of tobacco-based cigarettes to shift to the electronic variants.

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How Is Growing E-Commerce Sector Driving South Africa E-Cigarette Market?

 

The South African e-cigarette market is growing due to the rising health consciousness in the country and increasing sale of such products via online platforms. As a result of these factors, from $20.7 million in 2018, the size of the market is expected to witness an 18.6% CAGR during the forecast period (2019–2024), to reach $62.0 million by 2024. Such devices do not contain tobacco, but a vial filled with a liquid containing nicotine and other flavors.

Vape mod, vaporizer, cig-a-like, and T-vapor are the various categories under the product type segment. Among these, during the historical period (2014–2018), the South African e-cigarette market was dominated by the vaporizer category, as these devices are cheap, produce dense mist, and are compatible with numerous flavors. During the forecast period, the highest CAGR in the market will be experienced in the T-vapor category. This is attributed to the ability of these variants to produce smoke similar to a conventional cigarette, which is why habitual smokers are switching to them.

Browse detailed report - South Africa E-Cigarette Market Analysis and Demand Forecast Report

On the basis of distribution channel, the South African e-cigarette market divisions are vape shop, tobacconist, hypermarket/supermarket, online, and others. Among these, the tobacconist division held the largest share in 2018, as these channels offer an array of premium products, including e-cigars, e-cigarettes, and e-liquids, along with the conventional variants. Till 2024, the online category will witness the most-rapid advance owing to the convenience they offer, such as the ability to check out and compare multiple products, discounts and offers, electronic payments, and free doorstep delivery.

The major trend in the South African e-cigarette market is flavored liquids. Presently, tobacco companies are offering a range of flavors in e-liquids, such as mint, chocolate, menthol, bubble gum, cola, and fusions of multiple flavors, to attract customers, primarily the youth and young adults. This is consistent with the finding that almost 20% of the South African smokers take up the habit after 15 years of age. Apart from attracting new smokers, such flavors are also encouraging the users of tobacco-based cigarettes to shift to the electronic variants.

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Industrial Refrigeration Systems Market Revenue To Reach $41.1 Billion by 2030

 From $26.8 billion in 2019, the industrial refrigeration systems market is expected to reach a value of $41.1 billion by 2030. Furthermore, the market will exhibit a CAGR of 5.0% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The major factors driving the market are the mushrooming utilization of refrigerators in the pharmaceutical and chemical industries and booming cold chain and food processing industries across the world. 

With the mushrooming sales of biologic products and biotech drugs, the cold chain industry is expanding rapidly. This is because special logistics solutions are required to maintain the quality of these temperature-sensitive (2–8 °C) products, especially during their transportation from warehouses to patients, pharmacies, clinics, and hospitals. Moreover, the growing consumption of these items in developing and developed nations is fueling the expansion of the cold chain sector, which is, in turn, pushing up the demand for industrial refrigeration systems. 

Get More Insights: Industrial Refrigeration Systems Market Segmentation Analysis Report

Furthermore, refrigeration is required in oil refining, petrochemical, and chemical industries to preserve compounds, dehumidify the air, and condense gases. Pharmaceutical organizations use refrigeration systems for the cold sterilization of biologics, medical devices, and tissue samples. Moreover, most of the bioengineered drugs, vaccines, biologics, and pharmaceuticals that are produced from living cells must be kept in stable temperatures. Additionally, advanced refrigeration systems are required in the chemical industry for maintaining the temperature and quality of semi-finished and finished goods and raw materials. 

The industrial refrigeration systems market is categorized, on the basis of equipment type, into compressors, condensers, evaporators, and controls. Out of these, the compressor category contributed the highest revenue to the market in the years gone by, and this trend is predicted to continue in the coming years as well. This is ascribed to the fact that compressors account for around 25–35% of the total cost of a unit. 

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Industrial Refrigeration Systems Market Revenue To Reach $41.1 Billion by 2030

 From $26.8 billion in 2019, the industrial refrigeration systems market is expected to reach a value of $41.1 billion by 2030. Furthermore, the market will exhibit a CAGR of 5.0% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The major factors driving the market are the mushrooming utilization of refrigerators in the pharmaceutical and chemical industries and booming cold chain and food processing industries across the world. 

With the mushrooming sales of biologic products and biotech drugs, the cold chain industry is expanding rapidly. This is because special logistics solutions are required to maintain the quality of these temperature-sensitive (2–8 °C) products, especially during their transportation from warehouses to patients, pharmacies, clinics, and hospitals. Moreover, the growing consumption of these items in developing and developed nations is fueling the expansion of the cold chain sector, which is, in turn, pushing up the demand for industrial refrigeration systems. 

Get More Insights: Industrial Refrigeration Systems Market Segmentation Analysis Report

Furthermore, refrigeration is required in oil refining, petrochemical, and chemical industries to preserve compounds, dehumidify the air, and condense gases. Pharmaceutical organizations use refrigeration systems for the cold sterilization of biologics, medical devices, and tissue samples. Moreover, most of the bioengineered drugs, vaccines, biologics, and pharmaceuticals that are produced from living cells must be kept in stable temperatures. Additionally, advanced refrigeration systems are required in the chemical industry for maintaining the temperature and quality of semi-finished and finished goods and raw materials. 

The industrial refrigeration systems market is categorized, on the basis of equipment type, into compressors, condensers, evaporators, and controls. Out of these, the compressor category contributed the highest revenue to the market in the years gone by, and this trend is predicted to continue in the coming years as well. This is ascribed to the fact that compressors account for around 25–35% of the total cost of a unit. 

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Heating, Ventilation, and Air Conditioning System Sales Set to Skyrocket in Asia-Pacific in Future

 The increasing disposable income of people, especially in the emerging economies such as India and China, is one of the biggest factors responsible for the soaring sales of heating, ventilation, and air conditioning (HVAC) equipment in Asia-Pacific (APAC). Due to the rising disposable income of people, their purchasing power is growing rapidly, which is, in turn, causing a sharp surge in consumer spending in this region. Nowadays, people are spending heavily on appliances such as refrigerators and air-conditioning systems.

HVAC systems and equipment are nowadays used extensively by the general public, especially in India. This is mainly because of the increasing purchasing power of people residing in the regional countries and the fall in the prices of these systems. Apart from this factor, the soaring investments being made in construction and infrastructural development projects in India and China are also positively impacting the demand for HVAC systems in the APAC region. 

Access Report Summary - Asia-Pacific HVAC Market Segmentation Analysis Report

For instance, there are many upcoming infrastructural development projects in India such as metro railway expansion and airport construction projects. The Indian government made an allocation of $57 million to the development of the Ghaziabad and Noida sections of the metro network in the 2019 interim budget. Additionally, the Indian Government announced in 2017 that it would build nearly 100 new airports all over the country during the next 15 years.

These construction projects will massively push up the demand for HVAC systems in the country, once they are completed. This will, in turn, propel the advancement of the Asia-Pacific (APAC) heating, ventilation, and air conditioning (HVAC) market in the coming years. As a result, the value of the market is predicted to grow from $54.6 billion in 2018 to $70.7 billion by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.3% between 2019 and 2024. 

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Heating, Ventilation, and Air Conditioning System Sales Set to Skyrocket in Asia-Pacific in Future

 The increasing disposable income of people, especially in the emerging economies such as India and China, is one of the biggest factors responsible for the soaring sales of heating, ventilation, and air conditioning (HVAC) equipment in Asia-Pacific (APAC). Due to the rising disposable income of people, their purchasing power is growing rapidly, which is, in turn, causing a sharp surge in consumer spending in this region. Nowadays, people are spending heavily on appliances such as refrigerators and air-conditioning systems.

HVAC systems and equipment are nowadays used extensively by the general public, especially in India. This is mainly because of the increasing purchasing power of people residing in the regional countries and the fall in the prices of these systems. Apart from this factor, the soaring investments being made in construction and infrastructural development projects in India and China are also positively impacting the demand for HVAC systems in the APAC region. 

Access Report Summary - Asia-Pacific HVAC Market Segmentation Analysis Report

For instance, there are many upcoming infrastructural development projects in India such as metro railway expansion and airport construction projects. The Indian government made an allocation of $57 million to the development of the Ghaziabad and Noida sections of the metro network in the 2019 interim budget. Additionally, the Indian Government announced in 2017 that it would build nearly 100 new airports all over the country during the next 15 years.

These construction projects will massively push up the demand for HVAC systems in the country, once they are completed. This will, in turn, propel the advancement of the Asia-Pacific (APAC) heating, ventilation, and air conditioning (HVAC) market in the coming years. As a result, the value of the market is predicted to grow from $54.6 billion in 2018 to $70.7 billion by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.3% between 2019 and 2024. 

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Horticulture Lighting Market To Register 18.1% CAGR during 2020–2030

Factors such as the increasing government support for energy-efficient lights, decriminalizing of marijuana for medical purposes in several countries, and soaring demand for agricultural products will fuel the horticulture lighting market at a CAGR of 18.1% during 2020–2030 (forecast period). The market stood at $3.2 billion in 2019, and it is expected to reach $20.3 billion by 2030. Moreover, the booming world population and increasing popularity of vertical farming will facilitate the market growth in the foreseeable future.

The rising adoption of vertical farming will fuel the horticulture lighting market growth in the coming years. The reduction of arable land is pushing farmers to make the optimum use of whatever space they get, to meet the growing needs of the booming population. Vertical farming encompasses the cultivation of crops indoors, in layers stacked above each other, with artificial lighting providing the illumination. This technique has the potential to reduce the requirement for water by almost 90%, decrease the requirement for soil, and make the optimum use of limited space.

Get More Insights: Horticulture Lighting Market Segmentation Analysis Report

The most important factor behind the market growth is the booming world population. According to the United Nations Department of Economic and Social Affairs (UNDESA), the global population is estimated to grow from 7.7 billion in 2019 to 8.5 billion in 2030. Much of this population boom will be reflected in the U.S., Brazil, India, and China. Owing to this exponential surge, the demand for food will also escalate in the coming years. Due to this reason, numerous countries have started focusing on indoor and greenhouse farming techniques to increase their agricultural production.

Additionally, the developing countries hold immense potential for the players of the horticulture lighting market. Currently, the usage of artificial lights is quite low in the agriculture sector, especially in South Africa, India, and Brazil, but the soaring popularity of the indoor crop cultivation and horticulture concepts will amplify the usage of such lights in the coming years. The large-scale adoption of such lighting products in these nations might reduce their costs in the future. Moreover, the governments of these countries are extending their support to light-emitting diodes (LED), to conserve energy.

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Horticulture Lighting Market To Register 18.1% CAGR during 2020–2030

Factors such as the increasing government support for energy-efficient lights, decriminalizing of marijuana for medical purposes in several countries, and soaring demand for agricultural products will fuel the horticulture lighting market at a CAGR of 18.1% during 2020–2030 (forecast period). The market stood at $3.2 billion in 2019, and it is expected to reach $20.3 billion by 2030. Moreover, the booming world population and increasing popularity of vertical farming will facilitate the market growth in the foreseeable future.

The rising adoption of vertical farming will fuel the horticulture lighting market growth in the coming years. The reduction of arable land is pushing farmers to make the optimum use of whatever space they get, to meet the growing needs of the booming population. Vertical farming encompasses the cultivation of crops indoors, in layers stacked above each other, with artificial lighting providing the illumination. This technique has the potential to reduce the requirement for water by almost 90%, decrease the requirement for soil, and make the optimum use of limited space.

Get More Insights: Horticulture Lighting Market Segmentation Analysis Report

The most important factor behind the market growth is the booming world population. According to the United Nations Department of Economic and Social Affairs (UNDESA), the global population is estimated to grow from 7.7 billion in 2019 to 8.5 billion in 2030. Much of this population boom will be reflected in the U.S., Brazil, India, and China. Owing to this exponential surge, the demand for food will also escalate in the coming years. Due to this reason, numerous countries have started focusing on indoor and greenhouse farming techniques to increase their agricultural production.

Additionally, the developing countries hold immense potential for the players of the horticulture lighting market. Currently, the usage of artificial lights is quite low in the agriculture sector, especially in South Africa, India, and Brazil, but the soaring popularity of the indoor crop cultivation and horticulture concepts will amplify the usage of such lights in the coming years. The large-scale adoption of such lighting products in these nations might reduce their costs in the future. Moreover, the governments of these countries are extending their support to light-emitting diodes (LED), to conserve energy.

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How Will Automotive and Manufacturing Sectors Drive Compressor Demand in India?

 

SIAM states that the automotive industry of India manufactured 22,652,108 vehicles, including quadricycles, passenger vehicles, two-wheelers, three-wheelers, and commercial vehicles, in April–March 2020. The association further states that 3,062,221 passenger vehicles, 624,939 commercial vehicles, 611,171 three-wheelers, 18,349,941 two-wheelers, and 3,836 quadricycles were produced in the country in FY 2020–2021. The flourishing automotive sector, owing to the easy availability of raw materials and labor, will result in the large-scale deployment of compressors in India. 

Additionally, the flourishing manufacturing sector, on account of the increasing inflow of FDI, will drive the Indian compressor market at 6.2% CAGR during 2020–2030. The market was valued at $1,943.4 million in 2019, and it is expected to generate $2,891.9 million revenue by 2030. The manufacturing sector uses industrial air compressors for tool powering, stamping, and clamping. Nowadays, the rapid shift toward energy-efficient compressors, owing to the mounting focus of public and private organizations on production efficiency and energy savings, has become a prominent market trend.    

Get More Insights: India Compressor Market Revenue Estimation and Growth Forecast Report

In the last few years, medium-pressure compressors were preferred over high-pressure, hyper-pressure, low-pressure, and ultra-low-pressure compressors because medium-pressure variants find their applications in vehicles, home air conditioners, and refrigerators. A boom in the automotive and home appliances industries will, therefore, increase the deployment of medium-pressure compressors in India in the future. All these types of compressors are available in portable as well as stationary forms. In contemporary times, stationary compressors observe higher penetration due to their wide application base in the automobile sector. 

The positive displacement category, within the type segment, accounted for a larger share in the Indian compressor market in 2019, and it is expected to retain its industry dominance in the coming years as well. This can be ascribed to the better rotor profiles and innovative designs of positive displacement compressors. These compressors are mostly used in chemical, automotive, steel, and semiconductor companies. However, the dynamic category is expected to exhibit faster growth throughout this decade, owing to the increasing use of energy-efficient solutions in the cement, oil and gas, and steel sectors. 

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How Will Automotive and Manufacturing Sectors Drive Compressor Demand in India?

 

SIAM states that the automotive industry of India manufactured 22,652,108 vehicles, including quadricycles, passenger vehicles, two-wheelers, three-wheelers, and commercial vehicles, in April–March 2020. The association further states that 3,062,221 passenger vehicles, 624,939 commercial vehicles, 611,171 three-wheelers, 18,349,941 two-wheelers, and 3,836 quadricycles were produced in the country in FY 2020–2021. The flourishing automotive sector, owing to the easy availability of raw materials and labor, will result in the large-scale deployment of compressors in India. 

Additionally, the flourishing manufacturing sector, on account of the increasing inflow of FDI, will drive the Indian compressor market at 6.2% CAGR during 2020–2030. The market was valued at $1,943.4 million in 2019, and it is expected to generate $2,891.9 million revenue by 2030. The manufacturing sector uses industrial air compressors for tool powering, stamping, and clamping. Nowadays, the rapid shift toward energy-efficient compressors, owing to the mounting focus of public and private organizations on production efficiency and energy savings, has become a prominent market trend.    

Get More Insights: India Compressor Market Revenue Estimation and Growth Forecast Report

In the last few years, medium-pressure compressors were preferred over high-pressure, hyper-pressure, low-pressure, and ultra-low-pressure compressors because medium-pressure variants find their applications in vehicles, home air conditioners, and refrigerators. A boom in the automotive and home appliances industries will, therefore, increase the deployment of medium-pressure compressors in India in the future. All these types of compressors are available in portable as well as stationary forms. In contemporary times, stationary compressors observe higher penetration due to their wide application base in the automobile sector. 

The positive displacement category, within the type segment, accounted for a larger share in the Indian compressor market in 2019, and it is expected to retain its industry dominance in the coming years as well. This can be ascribed to the better rotor profiles and innovative designs of positive displacement compressors. These compressors are mostly used in chemical, automotive, steel, and semiconductor companies. However, the dynamic category is expected to exhibit faster growth throughout this decade, owing to the increasing use of energy-efficient solutions in the cement, oil and gas, and steel sectors. 

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Boom Predicted in Middle East and Africa Commercial Refrigeration Equipment Market in Future

The Middle East and Africa (MEA) commercial refrigeration equipment market is set for lucrative growth in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the rapid development of various organized retail chains, hypermarkets, and supermarkets, the rising popularity of ready-to-eat food items, and the soaring imports of various frozen meat products all over the region.

The developing nations of MEA such as Egypt, South Africa, Algeria, and Morocco are witnessing the rapid development of hypermarkets, supermarkets, and restaurants, on account of the rising urbanization rate and the increasing implementation of favorable government policies. Moreover, the surging disposable income and purchasing power of people and the expansion of the food retail industry and grocery stores in these countries are massively boosting the sales of refrigeration equipment in the MEA region. 

Get More Insights: Middle East and Africa Commercial Refrigeration Equipment Market Segmentation Analysis Report

Additionally, several regional governments and private organizations are making huge investments in infrastructural development projects and the development of strong digital platforms, which is transforming the retail landscape of MEA. Furthermore, the organized retail sector is exhibiting rapid expansion in Qatar, Saudi Arabia, and the U.A.E. According to various reports, the organized retail industry will register growth rates of 9%, 17%, 8.5%, 9.5%, and 18% in Saudi Arabia, Qatar, Kuwait, the U.A.E., and Oman respectively in the coming years.

Depending on equipment type, the market is classified into beverage refrigeration, walk-in coolers, transportation refrigeration equipment, ice making machineries, display cases, parts, and various other equipment. Out of these, the walk-in coolers category recorded the highest growth in the market during the last few years. Moreover, this category is predicted to demonstrate the highest growth in the market in the forthcoming years, on account of the mushrooming demand for food products and beverages in the region.

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Boom Predicted in Middle East and Africa Commercial Refrigeration Equipment Market in Future

The Middle East and Africa (MEA) commercial refrigeration equipment market is set for lucrative growth in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the rapid development of various organized retail chains, hypermarkets, and supermarkets, the rising popularity of ready-to-eat food items, and the soaring imports of various frozen meat products all over the region.

The developing nations of MEA such as Egypt, South Africa, Algeria, and Morocco are witnessing the rapid development of hypermarkets, supermarkets, and restaurants, on account of the rising urbanization rate and the increasing implementation of favorable government policies. Moreover, the surging disposable income and purchasing power of people and the expansion of the food retail industry and grocery stores in these countries are massively boosting the sales of refrigeration equipment in the MEA region. 

Get More Insights: Middle East and Africa Commercial Refrigeration Equipment Market Segmentation Analysis Report

Additionally, several regional governments and private organizations are making huge investments in infrastructural development projects and the development of strong digital platforms, which is transforming the retail landscape of MEA. Furthermore, the organized retail sector is exhibiting rapid expansion in Qatar, Saudi Arabia, and the U.A.E. According to various reports, the organized retail industry will register growth rates of 9%, 17%, 8.5%, 9.5%, and 18% in Saudi Arabia, Qatar, Kuwait, the U.A.E., and Oman respectively in the coming years.

Depending on equipment type, the market is classified into beverage refrigeration, walk-in coolers, transportation refrigeration equipment, ice making machineries, display cases, parts, and various other equipment. Out of these, the walk-in coolers category recorded the highest growth in the market during the last few years. Moreover, this category is predicted to demonstrate the highest growth in the market in the forthcoming years, on account of the mushrooming demand for food products and beverages in the region.

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Why Is Infrastructure Sector Growth Vital for Asia-Pacific Chiller Market?

The Asia-Pacific (APAC) chiller market was valued at $3.6 billion in 2018, and it is expected to reach $4.9 billion by 2024, progressing at a CAGR of 5.4% during the forecast period (2019–2024). This growth can be attributed to the expanding construction sector on account of the rising infrastructure expenditure and rapidly growing food and beverage industry. Moreover, the soaring number of information technology (IT) hubs in APAC countries will stimulate the market growth in the future.

The rising infrastructure expenditure in APAC nations, such as India and China, is a key factor supporting the market growth. India has several infrastructure development plans for metro networks, airports, and railway stations in the pipeline. For example, 413 miles of metro lines are being constructed in 15 Indian cities. Additionally, the Indian government is planning to establish nearly 100 airports in the next 15 years, among which 70 will be constructed at new locations. Considering India’s hot and humid weather, chillers are vital to provide cooling in such large spaces.

Access Report Summary - Asia-Pacific Chiller Market Segmentation Analysis Report

Additionally, the large-scale adoption of absorption chillers in the region has become a prime trend in the APAC chiller market, owing to the surging demand for cost-effective cooling systems. The cooling process in absorption chillers depends on the condensation and evaporation of water, which leads to low electricity consumption. The energy in these chillers is derived from waste heat, such as the heat generated from solar panels and steam from industrial processes. Additionally, absorption chillers are vibration-free, low- maintenance, and operationally cost-effective, while also leading to lower emission of toxic gases.

Furthermore, the APAC chiller market growth is facilitated by the growing hospitality sector in the region. The hospitality industry is flourishing due to the growing tourism sector in Vietnam, India, Thailand, Indonesia, Japan, and China. Additionally, the expansion of the food and beverage industry due to the booming population is boosting the market growth. China and India are emerging as the largest consumer bases for food and beverage companies, both domestic and international. Chillers are used here to keep not only the factory cool, but also the ingredients and final products.

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Why Is Infrastructure Sector Growth Vital for Asia-Pacific Chiller Market?

The Asia-Pacific (APAC) chiller market was valued at $3.6 billion in 2018, and it is expected to reach $4.9 billion by 2024, progressing at a CAGR of 5.4% during the forecast period (2019–2024). This growth can be attributed to the expanding construction sector on account of the rising infrastructure expenditure and rapidly growing food and beverage industry. Moreover, the soaring number of information technology (IT) hubs in APAC countries will stimulate the market growth in the future.

The rising infrastructure expenditure in APAC nations, such as India and China, is a key factor supporting the market growth. India has several infrastructure development plans for metro networks, airports, and railway stations in the pipeline. For example, 413 miles of metro lines are being constructed in 15 Indian cities. Additionally, the Indian government is planning to establish nearly 100 airports in the next 15 years, among which 70 will be constructed at new locations. Considering India’s hot and humid weather, chillers are vital to provide cooling in such large spaces.

Access Report Summary - Asia-Pacific Chiller Market Segmentation Analysis Report

Additionally, the large-scale adoption of absorption chillers in the region has become a prime trend in the APAC chiller market, owing to the surging demand for cost-effective cooling systems. The cooling process in absorption chillers depends on the condensation and evaporation of water, which leads to low electricity consumption. The energy in these chillers is derived from waste heat, such as the heat generated from solar panels and steam from industrial processes. Additionally, absorption chillers are vibration-free, low- maintenance, and operationally cost-effective, while also leading to lower emission of toxic gases.

Furthermore, the APAC chiller market growth is facilitated by the growing hospitality sector in the region. The hospitality industry is flourishing due to the growing tourism sector in Vietnam, India, Thailand, Indonesia, Japan, and China. Additionally, the expansion of the food and beverage industry due to the booming population is boosting the market growth. China and India are emerging as the largest consumer bases for food and beverage companies, both domestic and international. Chillers are used here to keep not only the factory cool, but also the ingredients and final products.

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Photonics Market To Generate $1,214.5 Billion Revenue by 2030

The rising need for energy-efficient products and increasing deployment of the photonics technology in communication applications will help the photonics market grow at a CAGR of 6.9% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $576.8 billion in 2019, and it is projected to generate $1,214.5 billion revenue in 2030. Besides, the escalating demand for electronic products, such as smartphones, tablets, wearable devices, and laptops, will contribute to the market growth globally.

The burgeoning demand for energy-efficient products is one of the key growth drivers for the market, as such products help in reducing the fossil fuel consumption at power plants and operate efficiently for long hours at low maintenance costs. As a result of these advantages, energy efficiency has become a prominent parameter in the development of high-performance computing systems. Moreover, the photonics technology is being extensively used in the production of solar modules, as governments across the world are encouraging the establishment of solar power plants.

Browse detailed - Photonics Market Revenue Estimation and Growth Forecast Report

Moreover, the increasing adoption of light in communication applications will supplement the photonics market growth in the upcoming years. For instance, data centers are increasingly deploying silicon photonic instruments to develop high-speed transmission systems, as these instruments provide high data transfer rates and consume lesser power. Additionally, the increasing focus of Datacom protocols on high-speed signaling is boosting the demand for photonics products and reducing the deployment of copper-based optical cables.

The product type segment of the photonics market is categorized into light-emitting diode (LED), laser, sensor and detector, and optical component and system. Under this segment, the LED category is expected to exhibit the fastest growth during the forecast period due to the increasing adoption of the LED technology to conserve electricity. This technology is being integrated into intelligent digital lighting solutions to reduce energy consumption by around 70%. Moreover, the greater lifespan of LED lights contributes to the growth of this category.

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Photonics Market To Generate $1,214.5 Billion Revenue by 2030

The rising need for energy-efficient products and increasing deployment of the photonics technology in communication applications will help the photonics market grow at a CAGR of 6.9% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $576.8 billion in 2019, and it is projected to generate $1,214.5 billion revenue in 2030. Besides, the escalating demand for electronic products, such as smartphones, tablets, wearable devices, and laptops, will contribute to the market growth globally.

The burgeoning demand for energy-efficient products is one of the key growth drivers for the market, as such products help in reducing the fossil fuel consumption at power plants and operate efficiently for long hours at low maintenance costs. As a result of these advantages, energy efficiency has become a prominent parameter in the development of high-performance computing systems. Moreover, the photonics technology is being extensively used in the production of solar modules, as governments across the world are encouraging the establishment of solar power plants.

Browse detailed - Photonics Market Revenue Estimation and Growth Forecast Report

Moreover, the increasing adoption of light in communication applications will supplement the photonics market growth in the upcoming years. For instance, data centers are increasingly deploying silicon photonic instruments to develop high-speed transmission systems, as these instruments provide high data transfer rates and consume lesser power. Additionally, the increasing focus of Datacom protocols on high-speed signaling is boosting the demand for photonics products and reducing the deployment of copper-based optical cables.

The product type segment of the photonics market is categorized into light-emitting diode (LED), laser, sensor and detector, and optical component and system. Under this segment, the LED category is expected to exhibit the fastest growth during the forecast period due to the increasing adoption of the LED technology to conserve electricity. This technology is being integrated into intelligent digital lighting solutions to reduce energy consumption by around 70%. Moreover, the greater lifespan of LED lights contributes to the growth of this category.

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Commercial AC Market To Register Sale of 25.4 Million Units in 2030

The global commercial air conditioner (AC) market registered a sale of 17.6 million units in 2019, which is expected to increase to 25.4 million units by 2030. The market is expected to experience a CAGR of 3.5% during the forecast period (2020–2030). This can be attributed to a multitude of factors, such as the growth in the purchasing power of people, expansion of the construction industry, and surge in the urban population and tourism activities.

Currently, refrigerants with a low Global Warming Potential (GWP) are trending. At present, the demand for hydrochlorofluorocarbon (HCFC)- and chlorofluorocarbon (CFC)-based refrigerants, such as R404A, R507, and R22, is rather high due to their easy availability. However, the rising consciousness regarding their harmful effects on the environment has led to the replacement of these CFC and HCFC refrigerants with R32 and other low-GWP variants. In October 2016, 197 nations ratified the Montreal Protocol, according to which high-GWP variants have to be phased out in developed economies by 2020 and in developing nations by 2030.

Browse detailed - Commercial AC Market Revenue Estimation and Growth Forecast Report

The commercial AC market growth is driven by the expansion of the construction industry, which is itself a result of the rising investment in the infrastructure sector. The requirement for cooling equipment is surging due to its usage in infrastructure facilities such as airports, office complexes, and metro rail systems. For instance, China plans to construct 216 airports by 2035, and India aspires to build 100 airports in the next 15 years. Likewise, the erection of 42 skyscrapers in Chicago, Illinois, U.S.; and 115 in London, U.K., will fuel the demand for cooling equipment in the near future.

The type segment of the commercial AC market is categorized into the variable refrigerant flow (VRF), split unit, chiller, ducted split/packaged unit, and room AC categories. Among these, the split unit category generated the highest revenue in 2019 because multiple split ACs can be used independently with only one outdoor compressor. The VRF category will demonstrate the fastest growth during the forecast period due to the energy-efficient and cost-effective features of VRF appliances. Additionally, these appliances are easy to install, due to which commercial facilities are replacing chillers with VRF systems.

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Commercial AC Market To Register Sale of 25.4 Million Units in 2030

The global commercial air conditioner (AC) market registered a sale of 17.6 million units in 2019, which is expected to increase to 25.4 million units by 2030. The market is expected to experience a CAGR of 3.5% during the forecast period (2020–2030). This can be attributed to a multitude of factors, such as the growth in the purchasing power of people, expansion of the construction industry, and surge in the urban population and tourism activities.

Currently, refrigerants with a low Global Warming Potential (GWP) are trending. At present, the demand for hydrochlorofluorocarbon (HCFC)- and chlorofluorocarbon (CFC)-based refrigerants, such as R404A, R507, and R22, is rather high due to their easy availability. However, the rising consciousness regarding their harmful effects on the environment has led to the replacement of these CFC and HCFC refrigerants with R32 and other low-GWP variants. In October 2016, 197 nations ratified the Montreal Protocol, according to which high-GWP variants have to be phased out in developed economies by 2020 and in developing nations by 2030.

Browse detailed - Commercial AC Market Revenue Estimation and Growth Forecast Report

The commercial AC market growth is driven by the expansion of the construction industry, which is itself a result of the rising investment in the infrastructure sector. The requirement for cooling equipment is surging due to its usage in infrastructure facilities such as airports, office complexes, and metro rail systems. For instance, China plans to construct 216 airports by 2035, and India aspires to build 100 airports in the next 15 years. Likewise, the erection of 42 skyscrapers in Chicago, Illinois, U.S.; and 115 in London, U.K., will fuel the demand for cooling equipment in the near future.

The type segment of the commercial AC market is categorized into the variable refrigerant flow (VRF), split unit, chiller, ducted split/packaged unit, and room AC categories. Among these, the split unit category generated the highest revenue in 2019 because multiple split ACs can be used independently with only one outdoor compressor. The VRF category will demonstrate the fastest growth during the forecast period due to the energy-efficient and cost-effective features of VRF appliances. Additionally, these appliances are easy to install, due to which commercial facilities are replacing chillers with VRF systems.

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Increasing Demand for High Bandwidths Boosting Adoption of Structured Cabling

Structured cabling can help in making cabling management easy as it can be laid and managed by fewer staff members. This is why this system is required in today’s times when the penetration of the internet is rising in almost every sector. According to P&S Intelligence, the increasing use of the internet is raising the demand for high bandwidths, as they enable data-intensive enterprise processes, such as high-volume online search, real-time data gathering, transfer, remote employee monitoring, and video conferences.

Thus, the installation of advanced cabling is rising among government, telecommunications, commercial, and industrial organizations. In addition, this cabling system can be cost-effective in the long run and time-saving, and it is a more organized and -standardized cabling approach than patch cords. Due to such advantages, the structured cabling market 2030 size will be $12,916.5 million, compared to the estimated $6,912.1 million of 2021, growing at a stable 7.2% CAGR till 2030.

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A properly structured cabling system comprises cables and other components, all of which could be of copper or optical fiber. Among these, copper cables were the most highly demanded in the past due to their cost-effectiveness over fiber cables and their installation. Copper is among the best conductors of electricity and corrosion-resistant, which reduces the risk of deterioration and cuts maintenance costs. In addition, copper wires can be bent into different shapes, which allows for their installation in narrow openings and tight corners.

Considering the applications for which these cables and other components are used, the structured cabling market was dominated by the LAN category in the past. It is attributed to the fact that LANs offer great flexibility to a company to connect printers, computers, surveillance cameras, phones, and photocopiers to the overall enterprise IT network. This makes the devices used by companies independent, which ultimately helps in improving overall productivity.

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Increasing Demand for High Bandwidths Boosting Adoption of Structured Cabling

Structured cabling can help in making cabling management easy as it can be laid and managed by fewer staff members. This is why this system is required in today’s times when the penetration of the internet is rising in almost every sector. According to P&S Intelligence, the increasing use of the internet is raising the demand for high bandwidths, as they enable data-intensive enterprise processes, such as high-volume online search, real-time data gathering, transfer, remote employee monitoring, and video conferences.

Thus, the installation of advanced cabling is rising among government, telecommunications, commercial, and industrial organizations. In addition, this cabling system can be cost-effective in the long run and time-saving, and it is a more organized and -standardized cabling approach than patch cords. Due to such advantages, the structured cabling market 2030 size will be $12,916.5 million, compared to the estimated $6,912.1 million of 2021, growing at a stable 7.2% CAGR till 2030.

Read More: Structured Cabling Market Demand

A properly structured cabling system comprises cables and other components, all of which could be of copper or optical fiber. Among these, copper cables were the most highly demanded in the past due to their cost-effectiveness over fiber cables and their installation. Copper is among the best conductors of electricity and corrosion-resistant, which reduces the risk of deterioration and cuts maintenance costs. In addition, copper wires can be bent into different shapes, which allows for their installation in narrow openings and tight corners.

Considering the applications for which these cables and other components are used, the structured cabling market was dominated by the LAN category in the past. It is attributed to the fact that LANs offer great flexibility to a company to connect printers, computers, surveillance cameras, phones, and photocopiers to the overall enterprise IT network. This makes the devices used by companies independent, which ultimately helps in improving overall productivity.

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LED Emergency Lighting Solution Demand To Escalate In Coming Years

 Constant technological developments are quintessential for the sustainability of any technology. This holds true for the lighting technology as well. As a result, the emergency lights manufacturing companies are making huge investments in research and development (R&D) activities to increase the lifespan and performance of their offerings. The incorporation of light-emitting diodes (LEDs) in red and green exit signs is one of the prominent technological advancements made in emergency lighting systems in recent years. These lights are more affordable and offer more energy efficiency than the traditional lighting sources. 

The declining prices of LEDs, owing to the continuous technological developments, will therefore help the emergency lighting market advance at a CAGR of 6.4% during 2021–2030. The market revenue stood at $5,386.0 million in 2020 and it is projected to reach $9,993.4 million by 2030. LED emergency lights are being increasingly used in residential, commercial, and industrial facilities to reduce energy consumption and maintenance costs. Owing to this reason, light manufacturing companies are focusing on expanding their LED emergency light portfolio.

Access Report Summary - Emergency Lighting Market Segmentation Analysis Report

Nowadays, the aviation sector is adopting a significant volume of emergency lights, due to the rising awareness of such solutions among aviation companies. Moreover, the plunging cost of emergency lighting systems is also propelling their adoption by aviation companies, because of their increasing aspiration to reduce their one-time cost for the installation of lighting components. Apart from this, the residential sector is also creating a significant demand for such lighting solutions, due to the surging construction of residential apartments and buildings, especially in the Middle East and African (MEA) and Asia-Pacific (APAC) countries. 

At present, emergency light manufacturers are largely focusing on launching new and improved products to offer better alternatives to customers. For instance, in April 2019, Legrand SA introduced a new range of self-contained emergency lighting units, which are ideal for commercial facilities, especially offices. Likewise, in April 2020, ABB Ltd. introduced the Naveo Pro system, which enables users to check and keep a tab on the maintenance requirements of their systems.

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LED Emergency Lighting Solution Demand To Escalate In Coming Years

 Constant technological developments are quintessential for the sustainability of any technology. This holds true for the lighting technology as well. As a result, the emergency lights manufacturing companies are making huge investments in research and development (R&D) activities to increase the lifespan and performance of their offerings. The incorporation of light-emitting diodes (LEDs) in red and green exit signs is one of the prominent technological advancements made in emergency lighting systems in recent years. These lights are more affordable and offer more energy efficiency than the traditional lighting sources. 

The declining prices of LEDs, owing to the continuous technological developments, will therefore help the emergency lighting market advance at a CAGR of 6.4% during 2021–2030. The market revenue stood at $5,386.0 million in 2020 and it is projected to reach $9,993.4 million by 2030. LED emergency lights are being increasingly used in residential, commercial, and industrial facilities to reduce energy consumption and maintenance costs. Owing to this reason, light manufacturing companies are focusing on expanding their LED emergency light portfolio.

Access Report Summary - Emergency Lighting Market Segmentation Analysis Report

Nowadays, the aviation sector is adopting a significant volume of emergency lights, due to the rising awareness of such solutions among aviation companies. Moreover, the plunging cost of emergency lighting systems is also propelling their adoption by aviation companies, because of their increasing aspiration to reduce their one-time cost for the installation of lighting components. Apart from this, the residential sector is also creating a significant demand for such lighting solutions, due to the surging construction of residential apartments and buildings, especially in the Middle East and African (MEA) and Asia-Pacific (APAC) countries. 

At present, emergency light manufacturers are largely focusing on launching new and improved products to offer better alternatives to customers. For instance, in April 2019, Legrand SA introduced a new range of self-contained emergency lighting units, which are ideal for commercial facilities, especially offices. Likewise, in April 2020, ABB Ltd. introduced the Naveo Pro system, which enables users to check and keep a tab on the maintenance requirements of their systems.

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How is Increasing Construction of Skyscrapers Fuelling Sales of Geotechnical Instrumentation and Monitoring Systems?

One of the key factors fuelling the surge in the requirement of geotechnical instrumentation and monitoring solutions is the soaring construction and infrastructural development activities all around the world. “The total spending in the global construction industry was observed to be as much as $11 trillion in 2017”. According to many reports, “this number would rise to $13.5 trillion by the end of 2024”. This is mainly because of the surging infrastructural development projects such as those pertaining to the building of roadways and high-speed railway tracks in countries such as the U.S., India, and China.

Besides the increasing transportation infrastructure development projects, the rapid construction of skyscrapers is also powering the sales of geotechnical instrumentation and monitoring systems across the world. These systems are required during the initial planning phases of skyscrapers for determining the various necessary details related to the foundation of these structures. The main factors responsible for the rapid construction of these massive buildings are the rising migration of people from rural areas to cities and the increasing urbanization all over the world. 

Get More Insights: Geotechnical Instrumentation and Monitoring Market Segmentation Analysis Report

As per many surveys, "the share of the people living in urban areas was found to be 55% of the total number of people across the world in 2018”. Furthermore, “this share is predicted to rise to 68% of the global population by 2030”. This sharp rise in the urban population would further boost the construction of various transportation systems such as railways and roadways throughout the world. The other major factor propelling the demand for geotechnical instrumentation devices is the growing usage of these systems in the oil and gas sector around the world. 

Because of the above-mentioned reasons, the revenue generated from the worldwide sales of geotechnical monitoring and instrumentation systems is predicted to rise from $3.1 billion to $6.1 billion from 2018 to 2024. “The global geotechnical instrumentation and monitoring market is predicted to advance at a CAGR of 11.8% from 2019 to 2024”, as per the forecast of the market research firm, P&S Intelligence. “Software, hardware, and services are the main components of geotechnical instrumentation and monitoring solutions, out of which, the demand for services was observed to be the highest in the past”.

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How is Increasing Construction of Skyscrapers Fuelling Sales of Geotechnical Instrumentation and Monitoring Systems?

One of the key factors fuelling the surge in the requirement of geotechnical instrumentation and monitoring solutions is the soaring construction and infrastructural development activities all around the world. “The total spending in the global construction industry was observed to be as much as $11 trillion in 2017”. According to many reports, “this number would rise to $13.5 trillion by the end of 2024”. This is mainly because of the surging infrastructural development projects such as those pertaining to the building of roadways and high-speed railway tracks in countries such as the U.S., India, and China.

Besides the increasing transportation infrastructure development projects, the rapid construction of skyscrapers is also powering the sales of geotechnical instrumentation and monitoring systems across the world. These systems are required during the initial planning phases of skyscrapers for determining the various necessary details related to the foundation of these structures. The main factors responsible for the rapid construction of these massive buildings are the rising migration of people from rural areas to cities and the increasing urbanization all over the world. 

Get More Insights: Geotechnical Instrumentation and Monitoring Market Segmentation Analysis Report

As per many surveys, "the share of the people living in urban areas was found to be 55% of the total number of people across the world in 2018”. Furthermore, “this share is predicted to rise to 68% of the global population by 2030”. This sharp rise in the urban population would further boost the construction of various transportation systems such as railways and roadways throughout the world. The other major factor propelling the demand for geotechnical instrumentation devices is the growing usage of these systems in the oil and gas sector around the world. 

Because of the above-mentioned reasons, the revenue generated from the worldwide sales of geotechnical monitoring and instrumentation systems is predicted to rise from $3.1 billion to $6.1 billion from 2018 to 2024. “The global geotechnical instrumentation and monitoring market is predicted to advance at a CAGR of 11.8% from 2019 to 2024”, as per the forecast of the market research firm, P&S Intelligence. “Software, hardware, and services are the main components of geotechnical instrumentation and monitoring solutions, out of which, the demand for services was observed to be the highest in the past”.

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