Construction Equipment Rental Market Set for Rapid Growth By 2022: Grand View Research, Inc.

The global construction equipment rental market was valued at USD 34.24 billion in 2014 and is anticipated to reach USD 84.60 billion by 2022. Increasing construction activities across the globe and rising government investment in emerging economies are projected to drive market demand in the coming years. 

The abundance of modern and productive equipment in rental fleets along with ongoing infrastructure development is expected to fuel demand. Rented construction equipment has several benefits such as ease of replacement, cost effective approach, less technical charges, lower maintenance cost, reduced transportation and less servicing requirement. These factors have been continuously driving the demand in the coming years. 

The material handling rental machinery segment is anticipated to grow at a CAGR of 13.0% from 2015 to 2022 on account of increasing focus on automated production facility. Increasing requirement of automated production processes for optimal use of raw material, energy and resource consumption are expected to result in the higher adoption of the product over the forecast period. 

Full Research Report On Global Construction Equipment Rental Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/construction-equipment-rental-market

Earthmoving rental machinery market was valued at USD 19.27 billion in 2014 and is projected to witness significant gains at a CAGR of 12.3% by 2022. Growing demand for heavy equipment from emerging economies is anticipated to drive growth shortly.

The emergence of advanced machinery with eco-friendly and low maintenance features is expected to outcast conventional equipment in the coming years. The high purchasing power of consumer with changing preference for rental equipment has also resulted in the high adoption of rental products. 

Middle East rental equipment industry is projected to witness substantial growth at a CAGR exceeding 15% by 2022 owing to ongoing construction activities and extensive focus on sustainable expansion practices such as eco-friendly building construction. Rising capital investment in retail, hospitality, banking, transportation, energy, infrastructure and agriculture programs and development of metal and mining sector in the region are considered to be the major driving factors for the growth of the market. 

Asia Pacific construction equipment market accounted for 25% of the total revenue in 2014 and is expected to witness significant growth shortly. Rapid urbanization, commercialization of industry, burgeoning population, robust fiscal growth, and increasing government initiatives are expected to drive the market in the coming years. 

North America is projected to grow at a CAGR of over 10% by 2022. Economic revival coupled with increasing capital investments is estimated to compliment demand in the region. Increasing residential construction with increasing investment along with volatile energy pricing and favorable regulations is expected to escalate volume sales in the European market. 

Major industry players include United Rentals, Hertz, Neff Rental, Ahern Rental, Loxam Group, and Sunbelt. Other participants include Quippo, Finning, Ahern Rental, American Equip Company (Ameco), Maxim Crane Works, Gemini Equip and Rentals, and Sunstate Equip Company. The construction equipment rental industry is very capital intensive in nature. Moreover, the market is characterized by mergers & acquisitions, joint ventures, and strategic alliances to increase their market penetration.

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Grand View Research has segmented the construction equipment rental market on the basis of product and region:

Construction Equipment Rental Product Outlook (Revenue, USD Million, 2012 - 2022)

• Earthmoving machinery
• Material handling machinery
• Concrete & road construction

Construction Equipment Rental Regional Outlook (Revenue, USD Million, 2012 - 2022)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

The global cyber warfare market is expected to reach USD 91.75 billion by 2025, according to a new study by Grand View Research, Inc. The increasing number of cyber-attacks are emerging as a significant threat across the globe. The dependence of organizations on information technology and the valuable & sensitive nature of digitally-stored data have raised the stake for cyber attackers whose primary motive is to disrupt economic growth and gain technological advantages by stealing intellectual properties of national defense forces. Increased concern towards catastrophic nature of cyber warfare and national security are factors anticipated to drive the market over the forecast period.

Cyberspace disruption capabilities have outstripped nation's focus on terrorism. The increasing cyber-attacks such as abusing digital infrastructure and network infiltration within industries and defense sector have led the government to focus more on cyberspace vulnerabilities. The growing digitization in different nations is leading to increase in data and security breaches, resulting in cyber-crime. In light of the growing cyber incidence, increased cyber security spending is proposed, and warfare units are established by the governments aimed to protect nation's sensitive information and deter potential of the cyber threat. Moreover, governments have developed more sophisticated cyber military capabilities to mitigate the emerging threats.

Increasing application of cyber warfare system within the corporate sector can be attributed to growing number of security threats amid defense contractor companies. The data breaches have compromised sensitive information such as blueprints, project details and testing results & reports from the companies which are the important factor for national security. The increasing breaches are impelling many organizations to make investments in security enforcement and detection tools. Moreover, to deter cyber espionage, monitor, and subvert other nations’ defense systems by infiltrating defense contractor system, application of cyber warfare system in the corporate sector is anticipated to drive market growth.

Full Research Report On Global Cyber Warfare Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/cyber-warfare-market

Further key findings from the report suggest:

• The defense application segment is estimated retain its dominance in the market and is projected to reach USD 27.94 billion by 2025.
• The government application segment is anticipated to register a healthy CAGR of 19.1% over the forecast period.
• The corporate application segment is anticipated to witness a high CAGR of 19.8% over the forecast period.
• North America was valued at USD 8.22 billion in 2016 and is expected to hold a dominant share in the market by 2025. The region was followed by Europe which held a market share of 25.44% in 2016 of the overall market share.
• Asia Pacific region is anticipated to be the fastest growing region for the cyber warfare market, growing at of CAGR of 21.1% over the forecast period.
• The key players in cyber warfare market include BAE System Plc, Boeing, General Dynamic Corporation, Lockheed Martin Corporation, and Raytheon Company, among others.

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Grand View Research has segmented the global cyber warfare market on the basis of application and region:

Cyber Warfare Application Outlook (Revenue, USD Billion, 2014 - 2025)

• Government
• Aerospace
• Homeland
• Corporate
• Others

Cyber Warfare Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Middle East & Africa 

Access Press Release Of This Research Report By Grand View Research:
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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Voice Recognition Market is anticipated to surpass $127.58 Billion by 2024: Grand View Research, Inc.

The global voice recognition market is expected to reach USD 127.58 billion by 2024, according to a new study conducted by Grand View Research, Inc. The increasing number of benefits offered by the voice recognition technology, including the easy accessibility, better productivity, and flexibility are anticipated to drive the demand for speech recognition solutions over the next eight years. The increased demand for high comfort and convenience is also expected to propel the demand. The voice recognition technology exhibits vast potential in various application areas, especially in the home automation system, due to advantages such as convenience and lower energy consumption.

Voice recognition is also a core technology leveraged in the semi-autonomous and autonomous vehicles. The autonomous car industry is expected to witness an explosive growth, which is anticipated to subsequently drive the market growth over the forecast period. However, the high price of AI-based voice control system is anticipated to pose a challenge to market expansion. Additionally, the inability to accurately recognize speech in the regional accent is a key challenge to the market.

Full Research Report On Global Voice Recognition Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/voice-recognition-industry

Further key findings from the report suggest:

• Enhanced device dominated the market in 2015with over 50% of the total market share. This is attributed to the increasing usage of voice recognition solutions in home automation and consumer electronics application areas. The software segment is anticipated to grow significantly over the forecast period as several prominent players have open sourced their software development kit code.
• The growing trend toward the development of the artificial intelligence-based system is expected to be the key factor driving industry growth over the foreseeable future. Leveraging deep learning algorithm in voice and speech solutions for better search results is expected to be the key factor for the growth of AI-based application segment.
• The deployment of speech recognition solutions in consumer and home security & automation verticals is anticipated to take the industry ahead at a substantial pace. This can be attributed to the changing lifestyle in several countries including the U.S., Germany, and the UK. The growing adoption of smart electronics in India, China, Japan, and Brazil may also catalyze industry growth in the consumer vertical.
• North America dominated the market (in terms of revenue) representing more than 30% of the total share in 2014. Additionally, North America and Asia Pacific are anticipated to witness a considerable growth due to the presence of several U.S. and China-based players, including Apple, Inc., Facebook, Inc., Baidu, Inc., Amazon.com, Inc., and Alphabet, Inc., working toward the development of this technology. Furthermore, the presence of several notable consumer electronics manufacturers, such as Samsung Electronics, Co., Ltd., with a strong distribution channel in the North American and Asia Pacific regions are expected to be the key factors for industry growth in this region over the forecast period.
• The prominent industry participants include Nuance Communications, Apple, Inc., Baidu, Inc., Alphabet, Inc., and Amazon.com, Inc. These players are focusing on integrating the artificial intelligence technology in order to build superior products to increase their customer base.

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Grand View Research has segmented the global voice recognition market on the basis of components, application, vertical and region:

Voice Recognition Component Outlook (USD Billion; 2013 - 2024)

• Hardware
• Software
• Automatic Speech Recognition
• Speaker Verification
• Audio Mining
• Enhanced Devices

Voice Recognition Application Outlook (USD Billion; 2013 - 2024)

• Artificial Intelligence
• Non-artificial Intelligence

Voice Recognition Vertical Outlook (USD Billion; 2013 - 2024)

• Automotive
• BFSI
• Consumer
• Government
• Retail
• Healthcare
• Home Security & Automation
• Others

Voice Recognition Regional Outlook (USD Billion; 2013 - 2024)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Latin America
• Brazil
• Middle East & Africa

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-voice-recognition-industry

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Global Home Energy Management Systems Market To Make Great Impact In Near Future By 2020

The global home energy management systems (HEMS) market is expected to exceed USD 2 billion by 2020, according to a new study by Grand View Research, Inc. Owing to increasing energy cost coupled with growing environmental concerns, energy management has emerged as a significant priority, which is expected to fuel the HEMS market. The need to conserve and optimize energy utilization is expected to serve as a key market driver. Increased connectivity and widespread adoption of smartphones is also expected to favorably impact the market growth. Energy management products demand has gained momentum over the last few years owing to use of variable pricing schemes offered by service providers. Favorable regulatory initiatives in the U.S. pertaining to energy conservation are expected to propel regional HEMS market growth.

High installation cost coupled with system complexity is expected to pose a challenge to market growth over the forecast period. Lack of consumer awareness regarding home energy management systems and the benefits they offer may also hinder the HEMS market. Technological proliferation along with decreased sensor and display costs, improved device-level information processing capability, and roll-out of smart utility meters provide avenues for market growth.

Full Research Report On Global Home Energy Management Systems Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/smart-home-energy-management

Further key findings from the report suggest:

• Wi-Fi emerged as the dominant segment in 2013; it is expected to continue accounting for considerable market share over the forecast period. ZigBee, a standard for wireless networks, is expected to be a high growth segment over the forecast period. This can be attributed to its ability to support needs of various utilities, government groups and product manufacturers.
• The HEMS market is dominated by control devices and systems; these include thermostats, whole home lighting systems and home automation systems. Enabling technologies are expected to witness high growth over the next six years due to popularity of technologies such as home area network, ZigBee and sensing.
• On account of favorable government initiatives and growing need to address issues related to aging infrastructure, North America is expected to emerge as the most dominant regional market over the forecast period. Smart meter mandates by utilities is primarily expected to drive the HEMS market in Europe.
• Key market participants include Intel Corporation, Panasonic Corporation, Cisco Systems Inc, General Electric Co. and Honeywell International. Innovations and extensive product development are expected to be the key growth strategies over the forecast period.

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Grand View Research has segmented the global HEMS market on the basis of technology, component and region:

HEMS Technology Outlook (Revenue, USD Million, 2012 - 2020)

• Wi-Fi
• ZigBee
• Wireless M-Bus
• HomePlug
• Z-Wave
• Others

HEMS Component Outlook (Revenue, USD Million, 2012 - 2020)

• Enabling Technologies
• User Interface
• Control Devices

HEMS Regional Outlook (Revenue, USD Million, 2012 - 2020)

• North America
• Europe
• Asia Pacific
• RoW

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Internal Combustion Engine Market Is Estimated To Reach 197 Million Units By 2022: Grand View Research, Inc.

The global internal combustion engine market is expected to reach 197 million units by 2022, according to a new study by Grand View Research, Inc. Rising need for fuel efficiency has resulted in engine downsizing and turbocharging, which is expected to escalate market growth over the coming years.

Development of several advanced combustion mode such as homogeneous charge compression ignition (HCCI) is expected to catalyze industry growth. This may be attributed to growing demand for high efficiency along with low carbon emission. The automotive internal combustion engine market is expected to witness significant growth owing to high vehicle demand over the forecast period.

Development of alternative-fuel options such as compressed natural gas & propane autogas and electric vehicle is anticipated to pose challenge to the industry. However, replacement of these substitutes may require high amount of time owing to the reliability and efficiency offered by IC technology. Increasing fuel prices may also pose challenge to industry growth over the next seven years.

Full Research Report On Global Internal Combustion Engine Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/internal-combustion-engine-market

Further key findings from the report suggest:

• Petroleum segment accounted for substantial market share in 2014, and is expected to witness growth over the next few years. Additionally, natural gas segment accounted for more than 15% of the overall consumption in 2014, which is expected to increase over the next few years; this may be primarily attributed to increasing shale gas production.
• The four stroke engine segment is estimated to capture a sizeable market share owing to several benefits and high efficiency offered over two stroke engines. The two stroke segment is expected to witness steady growth over the next few years.
• On account of surge in demand for commercial as well as passengers vehicles, the automotive segment is estimated to exhibit high growth over the next seven years. Further, marine applications are also poised for high growth owing to rising demand for submarines and ships for military applications.
• Asia Pacific emerged as a dominant regional IC engine market, accounting for over 35% of the overall share in 2014. High demand across the automotive segment is anticipated to be the key factor that drives regional demand.
• Key players include General Motors, Volkswagen AG, Rolls-Royce, Cummins, Caterpillar Inc., Toyota Industries Corporation and Volvo. The industry faces several challenges owing to frequent update in government rules and regulations, making value chain analysis significant.

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Grand View Research has segmented the global internal combustion engine market on the basis of fuel, cycle, application, and region:

Internal Combustion Engine Fuel Type Outlook (Volume, Thousand Units, 2012 - 2022)

• Petroleum
• Natural Gas

Internal Combustion Engine Cycle Outlook (Volume, Thousand Units, 2012 - 2022)

• 2-Stroke
• 4-Stroke

Internal Combustion Engine Application Outlook (Volume, Thousand Units, 2012 - 2022)

• Automotive
• Aircraft
• Marine

Internal Combustion Engine Regional Outlook (Volume, Thousand Units, 2012 - 2022)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/internal-combustion-engine-market-analysis

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Messaging Security Market to Witness Growth Acceleration During 2014 - 2025

 The global messaging security market is expected to reach USD 11.10 billion by 2025, according to a new study by Grand View Research, Inc. The market is expected to witness a CAGR of 13.7% over the forecast period, owing to increasing demand for cloud-based secure messaging products and solutions is driving the growth of the market. This can be attributed to the increasing popularity of Software-as-a-Service (SaaS) and virtual appliance based solutions

Organizations are increasingly utilizing instant messaging applications for external and internal communication, as they are a faster and cheaper mode of communication. However, with the accelerating adoption of this mode of communication, it becomes increasingly important to secure the messaging infrastructure as the communication environment is no longer secure. Hence, it is highly vulnerable to external threats.

Moreover, the increasing adoption of mobile devices is acting as another key driving factor contributing to the market growth. The accelerating demand for mobile devices for smoother communication amongst enterprises and its employees, through a network protected against threats, is paving the way for the adoption of secure messaging solutions and thus, facilitating secure access to critical enterprise information.

Full Research Report On Global Messaging Security Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/messaging-security-market

Further key findings from the report suggest:

• The email protection segment dominated the product segment in 2016. Emails act as an important source of storing critical information. However, their high vulnerability to virus and spam attacks necessitates the application of security solutions to safeguard emails against threats
• Cloud deployment is anticipated to become the preferred option of deployment for messaging security products and solutions, as it offers greater flexibility, convenience, accessibility, and easy maintenance
• The corporate segment is expected to find the highest application in the next eight years. Corporates possess large amounts of critical data that is required to be safeguarded against external and internal threats
• North America accounted for the largest share in 2016 owing to presence of prominent market players in this region, who are continuously working on developing new innovative technologies
• The Asia Pacific regional market is expected to experience the highest growth over the next eight years. This can be attributed to the presence of emerging economies such as India, China, and Australia that are expected to augment their expenditure on security infrastructure
• The list of key industry participants includes Cisco Systems, Inc., Symantec Corp., Trend Micro Inc., McAfee LLC, Barracuda Networks, Inc., Proofpoint, Inc., Panda Security, Clearswift, Forcepoint LLC, and Sophos Ltd.

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Grand View Research has segmented the global messaging security market on the basis of product, deployment, end-use, and region:

Product Scope (Revenue, USD Million; 2014 - 2025)

• Anti-virus
• Email Protection
• Messaging Gateway

Deployment Scope (Revenue, USD Million; 2014 - 2025)

• Cloud
• On-premise

End-use Outlook (Revenue, USD Million; 2014 - 2025)

• Corporate
• Residence

Regional Outlook (Revenue, USD Million; 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• China
• Japan
• India
• Latin America
• Brazil
• Middle East & Africa (MEA)

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-messaging-security-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Human Resource Management Market to receive overwhelming hike in Revenues by 2025

The global human resource management market size is projected to attain USD 30.0 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 10.4% CAGR during the forecast period. Increasing need for managing widespread workforce and growing demand for replacing legacy systems with improved human capital management platforms are anticipated to fuel market growth.

Technological proliferation in the field of big data analytics, machine learning, artificial intelligence (AI), and Internet of Things (IoT) is expected to positively impact the market for Human Resource Management (HRM). Various solution providers are developing innovative solutions that integrate upcoming technologies into HR systems for enhanced organizational performance.

HRM solution providers are focusing on developing software/solutions that easily integrate with mobile apps, thereby enabling employees and employers to access information pertaining to time and attendance, leaves, and performance status from their personal devices.These features increase transparency across organizational departments and provide flexibility to managers to access data anytime and anywhere across the globe.

Increased cloud deployment across all industries is expected to accelerate the demand for HRM solutions over the forecast period. Use of cloud technology enables various Small & Medium Enterprises (SMEs) to adopt modern HRM solutions at reasonable prices without the need to constantly upgrade or replace systems.

Full Research Report On Global Human Resource Management Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/human-resource-management-hrm-market

Further key findings from the report suggest:

• The global human resource management market is expected to register a CAGR of 10.4% over the forecast period, owing to significant demand for automation of HR processes and need to streamline business processes
• Core HR software is projected to expand at a CAGR of 9.4% from 2017 to 2025, owing to extensive application in managing employees across the globe
• The talent management software segment is anticipated to grow at the fastest pace and register a CAGR of 13.0% over the forecast period, owing to features such as attracting, recruiting, and retaining human assets in an organization
• Post the implementation of HRM software, organizations require support and maintenance services from vendors. This is expected to increase the demand for support and maintenance services, enabling it to register a 13.7% CAGR over the forecast period
• Demand for hosted deployment is expected to increase over the forecast period owing to easy integration with other systems, ease of use, and reduced costs. The segment is anticipated to reach USD 13.8 billion by 2025
• Demand in Asia Pacific is anticipated to grow at a significant rate and the market will reach a value of USD 6.5 billion by 2025, owing to rapid industrialization and digitization initiatives taken by various governments
• Major players operating in the HRM market include SAP SE; ADP, LLC; IBM Corporation; Oracle Corporation; Workday, Inc.; and Ultimate Software.

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Grand View Research has segmented the human resource management market based on software, service, deployment, enterprise size, end use, and region:

Human Resource Management Software Outlook (Revenue, USD Million, 2014 - 2025)

• Core HR
• Employee Collaboration & Engagement
• Recruiting
• Talent Management
• Workforce Planning & Analytics
• Others

Human Resource Management Service Outlook (Revenue, USD Million, 2014 - 2025)

• Integration & Deployment
• Support & Maintenance
• Training & Consulting

Human Resource Management Deployment Outlook (Revenue, USD Million, 2014 - 2025)

• Hosted
• On-premise

Human Resource Management Enterprise Outlook (Revenue, USD Million, 2014 - 2025)

• Large Enterprise
• Small & Medium Enterprise

Human Resource Management End-use Outlook (Revenue, USD Million, 2014 - 2025)

• Academia
• BFSI
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Others

Human Resource Management Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Australia
• China
• India
• Japan
• Latin America
• Brazil
• Middle East & Africa

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-human-resource-management-hrm-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Wireless Gigabit Market is anticipated to surpass $7.42 Billion by 2024: Grand View Research, Inc.

The global wireless gigabit (WiGig) market size is expected to reach USD 7.42 billion by 2024, according to a new report by Grand View Research, Inc. The increasing requirement for improved internet connectivity and better speed is driving the high-speed Internet growth across the globe. Moreover, the high penetration of smartphones and use of multiple devices are contributing to the overall industry growth. Global consumers demand high-speed connectivity without wires fastening them to their devices. Due to its capability of providing multi-gigabit data transfer, the technology is widely used in applications right from video streaming to backing up files.

As consumers demand wireless videos and data continues to grow, 802.11ad in the 60GHz spectrum shall provide more enhanced network capacity that makes it a feasible extension for the congested 2.4GHz/5GHz Wi-Fi spectrum.

Companies serving verticals such as media and entertainment, online gaming, healthcare, hospitality, educational institutions, research environments, and financial services, among others require a big bandwidth and high-speed Ethernet options. Furthermore, businesses are increasingly deploying resources to the cloud, whether a public, private, or hybrid cloud environment. Maximizing the effectiveness of cloud computing depends on the sufficient broadband speed and reliability that is also cost-effective. Such factors are increasingly contributing toward the rapid industry growth.

However, the escalation in productivity from BYOD devices has put more pressure on wireless networks, making costs harder to control and the devices more complex to manage within an organization. Due to the growing transition toward virtualization and BYOD, business networks are struggling with increased complexity.

Full Research Report On Global Wireless Gigabit Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/wireless-gigabit-wigig-market

Further key findings from the report suggest:

• The 802.11ac segment dominated the industry, which is anticipated to grow at a CAGR of nearly 30% over the forecast period. The exponential growth of virtualization, video, and mobility has led to an increase in the demand for bandwidth. Moreover, organizations require robust, adaptable, and easily positioned wireless LAN solutions as more of their workforces are accessing the network using intelligent mobile devices that run high bandwidth applications. These factors are leading to the rapid adoption of 802.11ac-enabled devices.
• The consumer electronics segment is anticipated to significantly dominate the industry over the forecast period with a CAGR of over 31%, owing to the increasing proliferation of consumer devices such as smartphones, tablets, and laptops. Owing to the rise in the adoption of these consumer devices, many business networks have experienced network congestion issues along with interference. This has led several network operators to move their dual-band services to operate using the 5GHz spectrum, thus driving the growth of the WiGig market.
• IT & telecom led the industry with a share of 29% in 2015. With the improvement in the telecom connectivity, companies are increasingly adopting applications such as BYOD throughout their operations. Moreover, the increase in the employee strength and the growing demand for worldwide coordination have, in turn, increased the demand for the high-speed Internet. This propels the IT & telecom organizations to use WiGig solutions across their businesses.
• Asia Pacific is projected to be a key regional segment with over 45% of the overall revenue share in 2015. The presence of a large number of WiGig manufacturers is the key factor for the dominating share accounted by the region. The presence of robust economies, such as India and China, is also expected to drive the regional growth. Moreover, the rising adoption of third-party platforms by enterprises, along with varied government initiatives, is projected to drive the need for smart network solutions.
• The key vendors in the WiGig market include Intel Corporation, Qualcomm, Broadcom Corporation, Panasonic Corporation, Marvell Technology Group Ltd., NEC Corporation, Cisco Systems, Inc., MediaTek, Nvidia Corporation, and Azurewave Technologies, Inc. Industry players are continuously investing in partnerships and new products to create opportunities for entering into new verticals and gaining a significant industry share.

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Grand View Research has segmented the global wireless gigabit market on the basis of type, product, end-use, application, and region:

WiGig Type Outlook (Revenue, USD Million, 2014 - 2024)

• 802.11ac
• 802.11ad

WiGig Product Outlook (Revenue, USD Million, 2014 - 2024)

• Consumer electronics
• Networking devices

WiGig End-use Outlook (Revenue, USD Million, 2014 - 2024)

• Large enterprises
• SMBs
• Residential

WiGig Application Outlook (Revenue, USD Million, 2014 - 2024)

• BFSI
• Government
• IT & Telecom
• Retail
• Healthcare
• Others

WiGig Regional Outlook (Revenue, USD Million, 2014 - 2024)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• MEA

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-wireless-gigabit-wigig-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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