North America Air Conditioning Systems Market Hits USD 52.56 Billion By 2020: Grand View Research, Inc.

The North America air conditioning systems market is expected to reach USD 52.56 billion by 2020, according to a new study by Grand View Research, Inc. Increasing construction expenditure is expected to drive the market across residential, commercial and industrial sectors. Additionally, favorable regulatory initiatives for energy efficiency are also expected to fuel market growth over the next six years.

Technological advancement has bolstered product development and innovation. High degree of competition from other regional markets, coupled with lower prices of products offered by Chinese manufacturers may hinder the industry in North America over the forecast period. Growing application areas, such as the use of portable air conditioning systems in tents for outdoor activities is expected to be an opportunity for industry participants over the next six years.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/north-america-air-conditioning-systems-market

Further key findings from the study suggest:

• Split air conditioning systems accounted for over 60% of the overall market revenue in 2013. They offer a high degree of flexibility and are relatively cost effective to install. In addition, split air conditioners offer a large amount of control to the user, since each conditioner functions as a separate unit. Portable air conditioners are expected to witness the fastest growth over the forecast period, mainly due to the high level of convenience they provide.

• Residential application accounted for over 40% of the market in 2013, and is further expected to remain the largest segment through the forecast period. Commercial applications such as the tourism and construction industries are expected to grow faster than the global average over the next six years.

• The U.S. contributed to over 83% of the revenue generation in North America in 2013, and is expected to continue dominating the market over the forecast period. This can be attributed to energy efficiency guidelines set by the US Environmental Protection Agency (EPA). Mexico is expected to be the fastest growing regional market, at an estimated CAGR of 10.3% from 2014 to 2020.

• Key industry participants employ strategies such as mergers, acquisitions and strategic collaborations to gain market share. Daikin Industries Ltd., Ingersoll-Rand, Carrier Corporation, Hitachi, Johnson Controls, Mitsubishi, etc. are among the companies operating in the market.

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For the purpose of this study, Grand View Research has segmented the North America air conditioning systems market on the basis of product, application and region:

Air Conditioning Systems Product Outlook (Volume, Thousand Units and Revenue, USD Million; 2012 - 2020)

            • Portable Air Conditioning Systems

            • Window Air Conditioning Systems

            • Split Air Conditioning Systems

            • Single Packaged Air Conditioning Systems

            • Chillers

            • Airside Conditioning Systems

Air Conditioning Systems Application Outlook (Volume, Thousand Units and Revenue, USD Million; 2012 - 2020)

            • Residential

            • Commercial

            • Industrial

Air Conditioning Systems Regional Outlook (Volume, Thousand Units and Revenue, USD Million; 2012 - 2020)

            • U.S.

            • Canada

            • Mexico

3D Printings Market To 2020- Industry Trends, Forecast: Grand View Research, Inc.

The global market for 3D printing was estimated to be USD 2,183 million in 2012, and is expected to reach USD 8,675.7 million by 2020, as per a new study by Grand View Research, Inc. The ability to facilitate low-volume manufacturing in a cost-effective manner is expected to fuel the market over the next few years. Further, the report analyzes that the growing need for flexible and customized products is expected to positively impact demand for 3D printing.
Automotive and healthcare industries in particular, are estimated to be key growth areas for revenue generation. Automotive is expected to be the largest and fastest growing application, with an estimated CAGR of 19.6% from 2013 to 2020. The market for medical applications was valued at USD 397.2 million in 2012, with dental applications expected to contribute largely to this segment. Concerns over protection of intellectual property from products manufactured using 3D printing are expected to restrain the industry from reaching its target potential. Backward integration in the value chain in terms of acquisitions of software 3D designing participants has been analyzed to be an opportunity for gaining competitive advantage.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/3d-printing-industry-analysis

3D printing market revenue share by application, 2012

 

Further Key findings from the study suggest:

• North America led the market, with approximately 42% of the overall market share in 2012
• Europe is expected to grow at the highest CAGR of 20.4% from 2013 to 2020, which can primarily be attributed to increase in funding from regulatory bodies. Furthermore, increasing investment in research and development are expected to be favorable factors for market expansion in this region
• In terms of raw material used for manufacturing, polymers are expected to dominate the market, and accounted for more than 35% of the overall revenue in 2012
• The industry is moderately consolidated, with mergers and acquisitions emerging as the key growth strategy. Major industry participants include Stratasys Inc., 3D Systems Corporation, Envisiontec GmbH, and Materialise NV among others.

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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Engineering Services Outsourcing Market Analysis, Growth, Trends To 2020

The Global Engineering Services Outsourcing (ESO) Market is expected to reach USD 415.74 billion by 2020, according to a new study by Grand View Research, Inc. Increased cost pressures on global firms resulting in constrained R&D budgets is a primary driver for market growth over the forecast period. Additionally, shorter product life cycles owing to dynamic consumer buying behavior are also expected to favorably impact market growth.

Enhancement in production process, cost advantage and lowered time-to-market are some of the other factors expected to boost market growth. Threat of intellectual property (IP) theft may pose a challenge to industry growth as it results in significant losses for businesses. Legal enforcements in a few offshore locations make it difficult for prosecuting firms which misuse confidential data and patents.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market

ESO market share by application, 2013

 

 Further key findings from the study suggest:

• ESO demand in telecom accounted for over 20% of the overall market in 2013. Telecommunications service providers have been implementing operations and business support systems for ensuring smooth business operations. This requires significant back-end expertise and equipment, thus propelling the use of ESO in systems. The consumer electronics segment is expected to witness the fastest growth over the forecast period. This can be primarily attributed to drastic reduction in product life cycles, forcing companies to bring about product innovations at a faster rate.

• Asia Pacific was the largest regional market in 2013, accounting for over 50% of the total demand; it is further expected to remain the market leader over the forecast period. This is mainly on account of the presence of a large talent pool, strong manufacturing base, emerging local demand and cost arbitrage in countries such as China and India. The market in Europe is expected to grow at a CAGR of over 25% from 2014 to 2020, owing to an inclination among several European firms to outsource engineering activities within the same country or within Western European nations for ensuring regulatory compliance.

• Key industry participants include HCL Technologies Ltd, Wipro, Tata Consultancy Services and Infosys Ltd. Other companies operating in the market include VanceInfo Technologies Inc., Tata ELXSI, QuEST Global, MindTree Ltd., KPIT Cummins Infosystems Ltd., Infotech Enterprises Ltd., IGATE Corp., GlobalLogic, EPAM Services, Cybage Software Pvt. Ltd., Calsoft Labs, Aricent Group, etc.

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For the purpose of this study, Grand View Research has segmented the global engineering services outsourcing market on the basis of end-use and region:

ESO End-Use Outlook (Revenue, USD Billion, 2012 – 2020)

            • Aerospace

            • Automotive

            • Construction

            • Consumer Electronics

            • Semiconductors

            • Pharmaceuticals

            • Telecom

            • Others

ESO Regional Outlook (Revenue, USD Billion, 2012 – 2020)

            • North America

            • Europe

            • Asia Pacific

            • RoW

Latest Study - IoT Market Share, Growth Prospects To 2022: Grand View Research, Inc.

The global Internet of Things (IoT) market size is expected to reach USD 1.88 trillion by 2022, according to a new study by Grand View Research, Inc.

Technological proliferation and increasing internet connectivity are expected to boost global IoT market growth. Growing VC investments by tech companies into innovative industry startups have further bolstered the growth opportunities in the market.

IoT connects devices such as consumer electronics as well as industrial equipment over a network, allowing information gathering and management of these devices via software to increase efficiency and enable new services.

Decreasing costs of internet enabled sensors, internet connectivity, and data processing are expected to propel industry growth. Additionally, futuristic concepts such as connected wearable devices, connected vehicles, connected homes, connected cities, and the Industrial Internet of Things (IIoT) are bound to open extensive market avenues over the next seven years.

However, issues such as privacy and security along with absence of universally accepted standards are expected to hamper the growth prospects. Moreover, increasing regulations by authorities in the U.S. and Europe in support of privacy and data security for the consumers are expected to challenge the industry.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/iot-market

North America IoT market revenue by application, 2012-2022, (USD Billion)

 

 Further key findings from the study suggest:

• Devices segment comprising modules and sensors dominated the global IoT industry accounting for over 30% of the market share in 2014. Proliferation of innovative IoT platforms such as Brillo by Google Inc. and HomeKit by Apple Inc. has led competitors to develop and offer substitutes to the industry, thereby fueling segment growth.
• Consumer electronics application segment is estimated to acquire a major segment of the revenue share in the IoT industry followed by retail and manufacturing. The development of the connected cars concept has pushed the transportation segment to acquire over 25% of the overall industry in 2014.
• Asia Pacific is expected to grow at a CAGR close to 16% over the forecast period. Countries such as China, Japan, and India are expected to drive industry growth during the next seven years. Increasing penetration of high-speed broadband internet and the presence of major technology and component manufacturers such as Samsung and Huawei have led to the regional industry growth.
• Technological and product innovations have driven the highly dynamic market. Key industry players include major technology and telecom giants such as Accenture PLC, Alcatel-Lucent, Apple Inc., Google Inc., General Electric, Freescale Semiconductors, IBM, Samsung Electronics, and SAP SE. Companies have aggressively fueled up investments in R&D and IoT divisions and innovation labs in order to gain on the first-mover advantage establishing their dominance in the market.

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

IoT Component Outlook (Revenue, USD Billion, 2012 – 2022)

• Devices
• Connectivity
• IT Services
• Platforms

IoT Application Outlook (Revenue, USD Billion, 2012 – 2022)

• Consumer Electronics
• Retail
• Manufacturing
• Transportation
• Healthcare
• Others

IoT Regional Outlook (Revenue, USD Billion, 2012 – 2022)

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