LED Lighting Market to Garner at 16.6% CAGR by 2025

The report, titled “LED Lighting Market: Global Industry Analysis and Forecast, 2017-2025,” projects that Asia-Pacific will remain the largest market for LED lighting in the world. Towards the end of forecast period, the contribution of Asia-Pacific to global LED lighting revenues will surpass 50%, registering a stellar revenue growth at 19.3%. The demand for LED lightings is also expected to remain high in Latin America, revenues from which are expected to reach US$ 2.3 Bn by 2017-end. Following these two regions, the LED lighting market in Middle East & Africa is expected to soar at 16.8% CAGR, while North America and Europe will showcase subpar revenue growth.

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Sales of conventional lighting systems are expected to witness major downtrend in the upcoming years as every other consumer in the world is likely to prefer LEDs over incandescent or fluorescent ones. Rising awareness regarding benefits of LEDs will keep orchestrating steadfast growth in global demand for LED lightings. Persistence Market Research projects that by the end of 2025, over US$ 125 Bn worth of LED lightings will sold across the globe. Key insights in its forecast report on the global LED lighting market also predict that the market, which is presently valued at just over US$ 36 Bn, will expand at an impressive momentum and register 16.6% CAGR during the forecast period, 2017-2025.

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Factors driving the global sales of LED lightings include:

  • Increasing adopting of LED lightings in commercial settings
  • Rising power consumption & overloading burden on conventional grid systems
  • Government initiatives promoting the use of LED lighting for cost-savings, energy efficiency and power conservation
  • High durability of LED lighting products, compared to other alternative lightings

Key insights compiled in the report reveal that large population in countries such as India, China, Brazil and South Africa continues to remain dormant in terms of LED usage. Manufacturers of LED lightings can seize such untapped demographics and deploy their production units to extend their global clout. Furthermore, commercial viability of LED lightings, and their compliance with green technology initiatives is also expected to propel their global sales through 2025. Nevertheless, volatility of procuring raw materials such as aluminum at fair prices remains to be a key hurdle for LED lighting manufacturers. OSRAM Licht AG, GE Lighting LLC, Daktronics Inc., Eaton Corporation (Cooper Industries PLC), Cree, Inc., Sharp Corporation, Hubbell Lighting Inc., Samsung Electronics Co. Ltd., Philips Lumileds Lighting, Acuity Brands Lighting Inc., and Toshiba Lighting and Technology Corporation are observed as the world’s leading manufacturers of LED lightings, profiled in the report.

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Key Excerpts from the Report include:

  • While LED bulbs will remain top-selling product in the market, the demand for bare LED tubes and LED fixtures will gain traction during the forecast period
  • Through 2025, over 50% of global LED lighting revenues will be accounted by revenues arising from installation services
  • Likewise, end-use of LED lightings in commercial settings is presently accounting nearly half of global revenues
  • However, by 2025-end, residential end-use of LED lightings will soar by registering 16.9% CAGR
  • On the other hand, industrial settings will remain fastest-growing end-user of LED lightings in the world, showcasing a value CAGR of 18.6%
  • Outdoor and backlighting applications will collectively attribute to more than half of global revenues towards the end of 2025
  • Application of LED lightings in automotive and indoor settings will also gain traction, registering 17.2% and 19.3% CAGR respectively
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Automated Fare Collection System Market to Expand at 11.1% CAGR by 2024

The report, titled “Automated Fare Collection Systems Market: Global Industry Analysis and Forecast, 2016-2024,” illustrates that the global automated fare collection systems market, which is presently valued at US$ 4.7 Bn will surge at 11.1% CAGR during the eight-year forecast period. Factors such as easy installation, low-cost maintenance and compatibility to technological advancements are observed to drive the demand for automated fare collection systems across the globe. The market is expected to witness surplus revenue growth on the account of advancements instated in automated fare collection systems. Companies manufacturing such systems are providing additional features that further enhance the user experience, and continue to propel in accordance with transportation authorities.

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The need to improve driving experience goes in hand with the necessitation of deploying advanced regulatory systems for traffic and transportation. Automated fare collection (AFC) systems are becoming more popular across transportation authorities as an ideal solution for ticketing passengers. By improving the efficiency of ticketing systems and streamlining the fare transaction process, automated fare collection systems will soon be observed as an enhanced service arranged by transportation authorities. Persistence Market Research’s latest report projects that the global market for automated fare collection systems will surpass US$ 11.8 Bn revenues towards the end of 2024.

Cubic Corporation, Thales Group, Xerox Corporation, Eurotech SPA, Nippon Signal Co. Ltd., Advantech Co. Ltd., NEC Corporation, Advanced Card Systems Holdings Limited, Omron Corporation and Scheidt & Bachman GmbH are profiled in the report as leading manufacturers of automated fare collection systems in the world.

Rising adoption of automated fare collection systems is also associated with growing need for advanced transportation solutions. Traffic authorities continue to struggle with old-fashioned transit systems and end up suffering losses worth millions of dollars. Through automated fare collection systems, these authorities will be at an advantage in terms of operational fluency and controlling expenditure budget. A majority of automated fare collection systems are availed in the form of hardware. Revenues amassed from sales of AFC hardware have been projected to account for more than 40% share throughout the forecast period. Demand for AFC software will also gain traction, while services will continue to procure consistent share on global market value between 2017 and 2024.

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The report reveals nearly half of automated fare collection systems sold across the globe will be installed for buses and light trail transit systems. Train services will be observed as the largest application, with a little over 40% share on global revenues by 2024-end. Likewise, public transport will remain the largest end-user industry for automated fare collection systems in the world, accounting for over three-fourth of global revenues at any point during the forecast tenure. Revenues from sales of automated fare collection systems in private transport circuits will grow at a steadfast CAGR of 11.9%.

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The report further reveals that North America and Europe will remain at the forefront, dominating with a collective global revenue share of more than 55%. The Asia-Pacific automated fare collection systems market, on the other hand, is anticipated to showcase a robust value CAGR of 12.4% during the forecast period.

Wireless Charging Products Market Will Expand at 34% CAGR by 2024

According to Persistence Market Research, the global market for wireless charging is currently valued over US$ 2.6 billion. By the end of 2024, revenues emanating from global sales of wireless charging devices & services will grow at an exponential CAGR of 34% and bring in revenues worth over US$ 27 billion.

As we head towards an era where wires won’t necessarily be a requisite for powering up devices, tech companies from around the world are intensifying their efforts towards production of advanced and immaculate wireless charging systems. Innovative technologies supporting the working mechanism of wireless charging devices is also piquing the curiosity of tech enthusiasts as well as common consumers. From green vehicles to smartphones, Persistence Market Research has published its research study on how wireless charging is spanning the globe as the next-gen mode of charging electric devices.

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The report further reveals the significance of components in driving the sales of wireless charging devices. Considering that wireless charging systems will eventually put an end to wired chargers, the components used in such systems will play an instrumental role in shaping up the future of wireless charging. Much like today, the feature of charging multiple devices at same time will continue to trend in the long run. In the global market for wireless charging, components used as power transmitters will garner a dominant position. In 2017 and beyond, transmitters are expected to account for more than three-fourth of global wireless charging revenues. Nevertheless, surplus power transmission will necessitate the use of advanced receiver components – revenues from which are projected soar at highest CAGR of 35.2%.

A key challenge faced by manufacturers of wireless charging systems hovers around the selection of suitable charging technology to assure compatibility with all electronic devices in the world. Availability of diverse electric devices brings uncertainty over expanding product portfolio of wireless charging systems. Research findings compiled in the report suggest that consumers of wireless charging devices are growing more inclined towards devices that use resonance charging technology. After accounting more than US$ 800 million revenues in 2016, the resonance charging technology will continue dominating the global wireless charging market by procuring nearly 40% value share through 2024. The global demand for inductive charging technology will incur a major downtrend, while revenues accounted by radio frequency (RF) charging technology will soar at nearly 40% CAGR during the projected period.

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While every other wireless charging device sold in the world will be used for powering smartphones, tablets, laptops and other consumer electronics, the report projects a lucrative growth for automotive application of wireless charging systems. During the forecast period, revenues procured from sales of wireless charging devices in the global automotive industry will be elevated at a staggering 42.1% CAGR. Rampant sales of electric vehicles will be factoring this growth, making automotive the most favorable application of wireless charging. Additionally, complications and hazards arising from wired power cables in manufacturing plants will also propel the demand for wireless charging in industrial applications. Through 2024, more than US$ 5 billion worth of wireless charging devices are likely to be consumed by industries across the globe.

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Additional Highlights of the Report include:

  • Asia-Pacific will be the largest consumer of wireless charging systems in the world
  • Sales of wireless charging devices in North America and Europe will procure more than 60% of global revenues throughout the forecast period
  • Tech giant, Apple Inc., recently made the news for joining the Wireless Power Consortium (WPC) to be a part of the global organization that develops widely-used wireless charging standard for smartphones and other electronic devices
  • The report has profiled similar tech companies that are partaking in the growth of global wireless charging market, which include – Qualcomm Technologies, Inc., Texas Instruments, Inc., Leggett & Platt, Inc., Energized Holdings, Inc., Integrated Device Technology, Inc., WiTricity Corporation, ConvenientPower HK Limited, PowerbyPoxi, and Powermat Technologies Ltd.

Air Cargo Security & Screening Systems Market to Garner at 6% CAGR by 2024

Persistence Market Research projects the global air cargo security and screening systems market to see moderate growth through 2024; the market is expected to reach a value of US$ 1,622.8 Mn by 2024-end.

“Air Cargo Security & Screening Systems Market: Global Industry Analysis and Forecast, 2016–2024” is a recent market report outlook published by Persistence Market Research that examines the global air cargo security and screening systems market for an eight-year period, 2016-2024. Persistence Market Research provides key insights into market dynamics, segmentation, regional outlook, and key players, delivering key market value estimations.

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Expanding at a compound annual growth rate of over 6%, the US$ 1.0 Bn air cargo security and screening systems market is likely to reach US$ 1.62 Bn by the end of 2024.”

  • Electronics & Smart Devices, Persistence Market Research

Research Findings: Key Market Drivers

  • Surging adoption of X-ray-based screening systems and explosive detection technologies by airport authorities is identified to be the primary factor driving the market growth.
  • Growing usage of advanced screening technologies and rapidly increasing infrastructure development of air cargo terminals and security checks at airports, will continue to push the revenue sales of air cargo security and screening systems further.
  • Rising security concerns, coupled with increasing implementation of new standards and regulations, are likely to favor the market growth over the forecast period.

Research Findings: Key Market Players & Potential Growth Opportunities

L-3 Communications Security and Detection Systems, Inc. is one of the key players participating in the global air cargo security and screening systems market. The company is also one of the key defense contractors for the U.S. Government, and is currently focusing on strategic acquisitions and partnerships in order to enhance the global market presence.

Another notable company in the competitive landscape is Rapiscan Systems, Inc. This player strives to sustain a strong global presence through cost-effective product offerings and consistent innovation. Smiths Detection Inc. is emphasizing partnerships with private airlines.

While Safran Identity & Security specializes in extensive air cargo screening products portfolio, Gilardoni S.P.A. is recognized for a broad range of customized security and screening solutions.

Some of other key companies in the global air cargo security and screening systems marketplace, include Costruzioni Elettroniche, Industriali Automatismi S.p.A., Implant Sciences Corporation, American Science and Engineering, Inc., and Nuctech Company Limited.

  • Several governments and airport authorities are collectively taking efforts to develop separate, dedicated air cargo terminals for enhanced security, which will create lucrative opportunities for companies in near future.
  • In addition, strategic supply chain partnerships and IATA-collaborations will potentially help companies to grow sustainably.
  • Moreover, elevated investments by aviation authorities to install advanced security and screening systems are likely to play a pivotal role in growth of the top companies operating in the market.
  • Persistence Market Research identifies that partnerships between customs authorities and trading communities of different countries in a bid to manage aviation security risks, will significantly contribute to the growth of key global as well as domestic players.

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Global Air Cargo Security and Screening Systems Market: Segmentation

Depending on the size of screening systems, the global market for air cargo security and screening systems is segmented into:

  • Screening systems for small parcel
  • Screening systems for break & pallet cargo
  • Screening systems for oversized cargo

Break and pallet screening systems will remain the dominant segment, reaching a value of US$ 998 Mn by 2024 end, followed by small parcel segment. By 2024 end, the former will account for over 61% share of the market value.

By technology, the market is classified as:

  • Narcotics trace detectors
  • Non-computed tomography
  • Explosives detection systems

Explosives detection will continue to be the largest technology segment, closely followed by non-computed tomography segment. Both the segments will capture over 37% shares in 2024.

Based on the application, the market is segmented into:

  • Narcotics detection
  • Metal & contra band detection
  • Explosives detection

Explosives detection will remain the top application segment, followed by metal and contra band detection segment. Explosives detection is expected to witness a gain of a whopping 480 BPS during the assessed period.

Global Air Cargo Security and Screening Systems Market: Regional Outlook

According to regional analysis, Persistence Market Research concludes that North America, Europe, and Asia Pacific will remain the key markets for air cargo security and screening systems globally. North America is likely to witness the fastest growth at a CAGR of 7.1%, followed by APAC that will possibly witness expansion at a CAGR of 6.2% over 2016-2024.

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By 2024 end, North America will represent over 32% share of the total market revenues, whereas Europe is anticipated to account for over 23% share, closely followed by APAC. Latin America and MEA will exhibit modest growth throughout the forecast period.

Building Automation Systems Market to Exceed at 11.1% CAGR by 2026

In reference to a new report published by Persistence Market Research, the global building automation systems market will showcase significant growth between 2016 and 2026. Manufacturers of building automation systems are rapidly adopting new regulations set across the globe and they are also lining up new products to meet rising market demand. The Persistence Market Research report titled, “Building Automation Systems Market: Global Industry Analysis & Forecast, 2016-2026”, talks in detail about the market psyche and also scrutinizes the market drifts which are expected to impact the future of the global building automation systems market. The global building automation systems market was valued more than US$ 43 Bn in 2015 and is expected to mint better revenue by the end of 2016, reaching approximately US$ 48 Bn. The market will continue its journey towards expansion and the market worth will reach US$ 141.1 Bn towards the end of 2026. The global building automation systems market will record a CAGR of 11.1% during the projected period.

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Governments around the globe are rolling out different precautionary measures to cut down the wastage of energy. Different new regulatory methods are adopted to reduce the consumption of energy. This is a massive booster for the global building automation systems market. Several big economies around the globe such as Europe, US and Japan have already curated some restrictive methods to revise the previous trends. This opens a new window of opportunity for the global building automation systems market. A slew of new technologies that are eroding this market are actively affecting the global canvas of the market. Better and more advanced technologies are enhancing the end-user experience and also increasing market outreach. The introduction of smart web-based, cloud-based control networks backed by the Internet of Things (IOT), mobile technologies, integrated building systems and facility management solutions are expanding the periphery of the global building automation systems market. Last but not the least, the urgent need for consolidated security solutions is also pushing ahead the market growth of the global building automation systems market. These key factors will complement the all-round development of the market within the forecast period but there are also certain key factors that might barricade the normal development of the market within the period of forecast. Building automation systems come with a high price tag and this is expected to impact their widespread adoption. The absence of skilled manpower is another market growth deterrent.

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The rising incidences of security violations across the globe are likely to impact the growth of the security and surveillance segment in the global building automation systems market. The security and surveillance segment will exhibit a robust growth in terms of revenue and will overshadow the market within the forecast period. The commercial segment will contribute notably to the global building automation systems market. Towards the end of the projected period, the commercial segment will touch a market worth of more than US$ 63 Bn and will record a CAGR of 10.9%. Apart from this the government and residential segments will also project promising growth trends by 2026 end. North America will lure maximum investors, as the building automation systems market in this region will exceed a whopping value of US$ 55 Bn by the close of 2026.

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The global market for building automation systems is crowded with several players. The Rheem Manufacturing Company, United Technologies, General Electric, Lennox International, Philips Lighting Holding B.V., Ingersoll-Rand Plc. Honeywell International Inc., Johnson Controls are some of the major players contributing to the growth of the market. They are establishing smart IT backed platforms to provide advanced building automation systems to their customers.

Smart Machines Market to Exceed at 18.8% CAGR by 2024

Persistence Market Research (PMR) delivers key insights on the global smart machines market in its upcoming report titled, “Smart Machines Market: Global Industry Analysis and Forecast, 2016-2024”. In terms of value, the global smart machines market is projected to register a healthy CAGR of 18.8% during the forecast period. This is attributed to various factors, regarding which PMR offers vital insights in detail.

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On the basis of a component, the global smart machines market has been segmented into hardware, software, and service. Demand for smart machines is enhanced by increasing need to process and analyze big unstructured data among different sectors such as manufacturing, healthcare, aerospace, and defense. On the basis of machine type, the global smart machines market has been segmented into robots, autonomous cars, drones, wearable electronics and others.

On the basis of technology, the global smart machines market has been segmented into cloud computing, big data, internet of everything (IoE), robotics, cognitive technology and effective technology. Affective technology segment is expected to expand with a substantial CAGR over the forecast period. Various enterprises working on cognitive computing are facing glitches and errors in technology. This, in turn, is encouraging adoption of affective computing. Cognitive computing technology enables emotions linking to a robot, assisting the robot in making rational decisions and performing more complex tasks.

Smart machines are deployed to enhance networked resources and implement distributed intelligence in manufacturing industries. Integration of devices provides more accessibility. Smart machines can be easily connected to a broader network of connected devices, enabling users to share data on numerous devices. This ensures users to connect/access their devices from anywhere and anytime. This is expected to fuel demand for smart machines in various industries. The market in Australia is expected to witness substantial growth in adoption rates of smart machines over the next five years. Autonomous robots are expected to find applications in agriculture and commercial sectors to overcome the lack of labor in the country. Australia-based companies have also been investing significantly in advanced technologies such as IoT.

Smart machines are programmed to make intelligent decisions in a time efficient manner. They are built to learn from their interactions and their precision increases over time. Hence, new developments in operational intelligence are encouraging companies to adopt systems that are smarter and efficient. Narrative Science Inc., a company that offers analytical solutions uses its virtual assistant Quill, which is programed using natural language processing to provide relevant solutions.

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This report covers trends driving each segment and offers analysis and insights of the potential of the smart machines market in specific regions. The markets in Europe, North America, and Asia Pacific are expected to register high growth rates between 2016 and 2024. MEA is a small but significant market for smart machines as governments in the Middle East countries are investing in this sector to digitize government services. The market in Europe is expected to gain substantial market share in terms of revenue. This is attributed to increasing demand for smart machines from the automobile and manufacturing industries in countries such as Germany and France. The APAC accounted for the highest market share in 2015 and is expected to gain 232 BPS by an end of 2024.

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Key players in the global smart machines market include Apple Inc., Google Inc., Microsoft Corporation, BAE Systems, Creative Virtual Ltd., Digital Reasoning Systems, Inc., IBM Corporation, Narrative Science Inc., Rethink Robotics, ABB Limited, Rockwell Automation, Inc., and General Electric Co. others.

Torque Sensors Market to Surpass at 9.3% CAGR by 2021

The global torque sensor market is expected to witness a significant growth during the forecast period (2015-2021). Various factors, such as emerging applications of torque sensors, rising demand for precise torque measurement technology, and high demand from the automotive application segment, are driving the growth of the global torque sensor market currently. Furthermore, trends that follow with the growth of torque sensor market include: development of non-contact & wireless sensors, growing adoption of quality standard specifications (such as ISO 9000), and imposition of strict government regulations related to machine safety in developed countries.

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According to the latest market report published by Persistence Market Research, titled “Global Market Study on Torque Sensor: Rotary Torque Sensor Expected To Be the Most Valuable Product Type Segment throughout the Forecast Period”, the global torque sensor market is estimated to be valued at US$ 1,105.9 Mn by the end of 2015, and is anticipated to expand at a CAGR of 9.3% from 2015 to 2021 to reach US$ 1,889.9 Mn by 2021.

The torque sensor is a device used for measuring the torque of rotating systems such as electric motors, engine, gearbox, draft shaft, etc. Torque measurement and monitoring are an important parameter in all machines and engines.

The global torque sensor market is segmented on the basis of product type, mechanical configuration, application, and region. On the basis of product type, the global torque sensor market is segmented into different types of torque sensor products. The rotary torque sensor segment is expected to remain dominant throughout the forecast period, with high revenue contribution. By the end of 2015, the rotary torque sensor segment is expected to hold more than 53% share of the global torque sensor market. However, by 2021, the segment is expected to lose its market share to other product types segments.

In terms of mechanical configuration, the flange style segment is expected to expand at the highest CAGR over the forecast period. However, in 2014, revenue generated by the flange segment was low as compared to the other segments.

On the basis of application, the automotive & transportation application segment held the largest share of the global torque sensor market in 2014, and it is expected to remain dominant throughout the forecast period. Factors which are driving the growth of the global torque sensor market in the automotive & transportation application segment include increasing adoption of torque sensors in various automotive systems, the introduction of new types of torque sensors by key players, and increasing demand for electric-powered steering systems in vehicles.

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The report provides in-depth information about various factors and trends affecting each market segment and provides analysis and insights about the potential of the torque sensor market in specific regions. On the basis of region, the global torque sensor market is segmented into five regions. Among these, APAC is expected to dominate the market, accounting for 31.9% value share of the market by the end of 2015, and it is expected to remain dominant till 2021. However, the Middle East & Africa market is anticipated to expand at the highest CAGR during the forecast period.

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Key market players in the global torque sensor market include ABB Ltd., ATI Industrial Automation, Inc., FUTEK Advanced Sensor Technology, Inc., Interface Inc., Honeywell International Inc., Crane Electronics Ltd., Kistler Holding AG, HBM GmBH, Sensor Technology Ltd., and Datum Electronics Limited. Key market players are focusing on product innovations and launch of new products to cater to the emerging needs of the customers. For example, in June 2013, ATI Industrial Automation, Inc. launched Wireless F/T, for up to six ATI multi-axis force/torque transducers, which can be powered by internal battery as well as an external power source. In April 2015, Crane Electronics Ltd. launched RFm, which enables reading of torque and angle values in real time and converts them into digital values.

Residential Robotic Vacuum Cleaner Market to Exceed at 12% CAGR by 2021

According to the latest market report published by Persistence Market Research, titled “Global Market Study on Residential Robotic Vacuum Cleaner: Europe to Be the Most Lucrative Region throughout the Forecast Period”, the residential robotic vacuum cleaner market is estimated to be valued at US$ 1,255.0 Mn by the end of 2015 and is anticipated to expand at a CAGR of 12.0% from 2015 to 2021 in terms of value, to account for US$ 2,475.0 Mn by 2021.

Robotic vacuum cleaners commonly called robovacs, are mainly used for cleaning residential spaces, such as floors, pools, and gutters. The device comprises a mobile base, cleaning system, programming software, batteries, and other accessories. Robovacs use intelligent sensors to clean tight corners and hard-to-reach surfaces. It is equipped with various advanced features such as laser vision, room mapping, self-charging and others to offer convenience to users.

The global residential robotic vacuum cleaner market is expected to witness significant growth during the forecast (2015–2021). Various factors such as growing demand for automated cleaning, increasing consumer inclination towards various types of cleaning products and rising disposable income. Trends that follow with the growth of residential robotic vacuum cleaner market include growing product innovation, increasing R&D expenditure by key market players and growing number of market players. In terms of value, the global residential robotic vacuum cleaner market is expected to expand at a CAGR of 12.0% from 2015 to 2021, to be valued at US$ 2,475.0 Mn by 2021. In terms of volume, production of residential robotic vacuum cleaner is expected to be 1,913.5 thousand units by the end of 2015 and is expected to reach 4,783.0 thousand units by 2021, exhibiting a CAGR of 16.5%.

On the basis of robot type, the global residential robotic vacuum cleaner market is segmented into an in-house robot and outdoor robot. In terms of value, the in-house robot segment is expected to account for 83.3% share of the global residential robotic vacuum cleaner market by the end of 2015 and is anticipated to expand at CAGR of 9.9% during the forecast period. In terms of volume, the in-house robots segment stood at 1,309.1 thousand units in 2014.

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On the basis of mode of charging, the global residential robotic vacuum cleaner market is segmented into manual charging and auto battery charging segments. In terms of value, the manual charging segment is expected to expand at the highest CAGR of 12.0% during the forecast period, while the auto battery charging segment is expected to be valued at US$ 1,775.6 Mn by 2021.

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The report provides in-depth information about various factors and trends affecting each segment and provides analysis and insights about the potential of the residential robotic vacuum cleaner market in specific regions. On the basis of region, the global market of residential robotic vacuum cleaner market is segmented into five regions; among these, Europe is expected to dominate the market, accounting for 44.6% value share by the end of 2015 and it is expected to remain dominant by 2021. However, the Middle East & Africa market is anticipated to expand at the highest CAGR during the forecast period.

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Key market players in global residential robotic vacuum cleaner market include iRobot Corporation, Neato Robotics, Inc., Yujin Robot, Co., Ltd., Dyson Inc., Ecovacs Robotics, Inc., Hayward Industries, Inc., Philips Electronics N.V, Samsung Electronics Co., Ltd., Pentair plc and Milagrow Business & Knowledge Solutions (Pvt.) Limited. Key market players are focusing on product innovation to offer advanced products to consumers. For example, in September 2015, iRobot Corporation launched Roomba 980 vacuum cleaning robot. It is the company’s first robotic vacuum cleaner to combine adaptive navigation with visual localization, cloud-connected app control and enhanced cleaning power on carpets.

Cyber Security Market to Exceed at 12% CAGR by 2025, Globally

Persistence Market Research (PMR) in its report titled “Cyber Security Market:  Global Industry Analysis and Forecast 2017-2025” projects that the cyber security market in North America will retain its top spot over the assessment period. By 2025-end, the region’s cyber security market is expected to surpass a valuation of US$ 67,142 Mn. Meanwhile, adoption of cyber security technologies in Asia Pacific (APAC) remains strong, hence, the market in the region is anticipated to witness the highest growth rate during the forecast period. In terms of growth, cyber security market in the Middle East & Africa region is also expected to witness an impressive growth rate despite having a significantly smaller market size.

Enterprises are increasingly deploying cyber security products and solutions in order to protect confidential data from security impeachment. Today, cyber security has become an essential mechanism to block perilous cyber threats. In 2016, the global market for cyber security stood at US$ 76,400 Mn and projected to grow to US$ 205,810.4 Mn by 2025, reflecting a CAGR of 12% during the forecast period. The increasing application of cloud-based services in multiple workloads including data backups, Email services, ERP, CRM, and collaboration services is expected to drive the growth of global cyber security market in 2017 and beyond.

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The cost of cloud-based services is comparatively cheaper, as these services require a very minimum IT infrastructure setup. However, cloud deployment increases vulnerabilities in software and often makes it easy to access. Therefore, many companies are shifting towards the adoption of cyber security solutions to secure their workloads on the cloud. In addition, robust digitization across the globe continue to create the possibility of new cyber threats, hence, compelling enterprises to opt for cyber security solutions in order to tackle unethical hacking and malignant cybercrimes.

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The report also cites that the arrival of several cutting-edge security services for IoT coupled with the escalating demand for next generation security solutions is bringing lucrative business propositions for market players. IBM Corporation, Microsoft Corp., Lockheed Martin, Intel Corp., Secureworks, Symantec Corporation, Verizon Communication Inc., Sophos, Check point software technologies, and Trend Micro rank amongst the top notch companies in the globe having expertise in cyber security solutions.

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Additional Excerpts From the Report Include:

  • Managed security emerged as one of the most preferred cyber security technology in recent years. Adoption of managed security services is growing rapidly in order to ease up operations and management in various domains such as banking, telecommunications, and healthcare.
  • Based on components, cyber security services will continue to have a higher preference than cyber security software and hardware throughout the assessment period.
  • In 2017 and beyond, deployment of cyber security solutions is expected to remain robust in telecommunication and banking sectors. Incidentally, these two sectors account for sizable revenues shares of the global cyber security market.

Consumer Mobile Payments Market to Exceed at 41.1% CAGR by 2026

Such an exponential growth for global consumer mobile payment market is factored by rising proliferation of smartphones and advanced features added to existing payment platforms. The world is flooded with various mobile wallets, and such applications are expected to remain trending in the years to come. Increasing burden on e-commerce platforms is also expected to get divested across m-commerce platforms. Furthermore, government initiatives prompting adoption of cashless transactions is also stipulated to boost consumer mobile payments. Less time consumed by transactions, and immediate currency conversion serve as key proponents for consumer mobile payments.

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Mobile phones, developed to facilitate telecommunications, have now become wallets for consumers. Digital payments through mobile phones are revolutionized commercial settings across the world. Growing development of m-commerce platforms have also stepped in to promote the adoption of consumer mobile payments. Persistence Market Research’s latest report on the global market for consumer mobile payments projects that the market, which is presently worth over US$ 870 Mn, will register explosive growth at a whopping 41.4% CAGR to procure US$ 27,771.8 Mn revenues by the end of 2026.

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Consumer mobile payments are also being preferred for their convenience in paying for anything, anywhere. Integrated consumer mobile payments are also becoming popular among merhcants. Consumer mobile payments are also becoming more protected through advanced security features. Nevertheless, security breaches are observed to be top challenge faced by developers of consumer mobile payment applications. The report has outlined leading players in the global consumer mobile payment market, which include ACI Worldwide, Inc., Alphabet Inc., DH Corp, Fidelity National Information Services, Inc., Square, Inc., Fiserv Inc., Jack Henry & Associates Inc., MasterCard Incorporated, PayPal Holdings, Inc., Visa Inc., Apple Inc., and Starbucks Corporation.

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Key findings of the report, titled “Consumer Mobile Payments: Global Industry Analysis and Forecast, 2016 – 2026,” include:

  • Through 2026, over 90% of consumer mobile payments will be directed through remote mode of payments
  • Proximity mode of payment, however, will gain traction and showcase a gain of +140 BPS by 2026-end
  • Among the remote mode of consumer mobile payments, m-commerce will remain a dominant segment registering 40.8% CAGR
  • During the forecast period, global consumer mobile payments taking place through NFC modes will register revenue growth at nearly 50% CAGR
  • Throughout the forecast period, retail will remain the largest end-user industry for consumer mobile payments, while verticals such as hospitality & tourism and IT & telecommunications are expected to bring over US$ 11 Bn revenues by 2026-end
  • Asia-Pacific excluding Japan (APEJ) region is expected to register fastest revenue growth at 44.3% CAGR, while North America and Middle East & Africa will be observed as leading regions for growth of consumer mobile payments market