According to a new report published by Allied Market Research, titled, “Mobile Application Market," The mobile application market was valued at $208.46 billion in 2022, and is estimated to reach $777.4 billion by 2032, growing at a CAGR of 14.4% from 2023 to 2032.
The mobile application market has experienced exponential development and innovation over the years with the widespread use of smartphones and evolving needs of customers, mobile applications, primarily referred to as apps, have merged seamlessly into the customer’s daily lives with a vast range of features and services. The mobile application has completely changed the way people interact, work, or shop, Due to COVID-19 pandemic the market had major economic effects. While some industries experienced growth in revenue, others witnessed difficulties in monetization and operational disruptions. The pandemic, however, gave app developers the chance to develop applications for contactless payment, medical, online education, and remote work.
The main factors that propel the expansion of the market are rise in variable device use and expanding client base in the e-commerce sector. Surge in enterprise applications, more attention on apps specifically utilized for health & fitness, strong download rates, and in-app purchases for gaming apps boost the growth of the market. However, the absence of high-speed connectivity in developing and underdeveloped areas as well as businesses' reluctance to develop their own applications are anticipated to restrain market expansion. In addition, rise in digitization investments, increased adoption of internet of things technologies, and mobile connectivity of smart items are anticipated to offer significant opportunities for market expansion in the future.
Furthermore, factors such as rise in variable device use and expanding client base in the e-commerce sector. Surge in enterprise applications, more attention on apps specifically utilized for health & fitness, strong download rates, and in-app purchases for gaming apps boost the growth of mobile app market. However, the absence of high-speed connectivity in developing and underdeveloped areas as well as businesses' reluctance to develop their own applications are anticipated to restrain market expansion. In addition, rise in digitization investments, increased adoption of internet of things technologies, and mobile connectivity of smart items are anticipated to offer significant opportunities for mobile application market forecast.
On the basis of the application, the gaming segment dominated the mobile application market analysis in 2022 and is expected to continue this trend during the forecast period, owing to owing to rise in number of mobile gaming application in developing nations such as China and India. A wider percentage of the population now has access to gaming experiences on their mobile devices due to improving cost and availability of smartphones. However, the healthcare and fitness segment is expected to exhibit the highest growth during the forecast period, owing to the growing rate of obesity and increasing number of health issues, which drives the adoption of health applications. In addition, surge in awareness among the people regarding weight loss, calorie intake, and proper nutrition, thereby fuels the popularity of these applications.
By region, Asia-Pacific dominated the market share in 2022 for the phone application market. The same region is expected to exhibit the highest growth during the forecast period, owing to vast and diverse population, leading to the creation of region-specific or culturally relevant apps. In addition, with the expansion of internet connectivity and the increasing availability of high-speed mobile data, more people in Asia have access to the internet.
The global adoption of smartphones is growing, creating a sizable opportunity for the mobile app market. The potential user base for phone app grows as more people get access to smartphones, which increases demand and usage. This gives app developers the chance to target new markets and serve a variety of user categories. Mobile phone application now have more options due to the quick development of technologies, for instance artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT). Through the use of these technologies, developers can produce new products for gaming, education, healthcare, retail, and other industries as well as immersive and interactive experiences, personalized suggestions, and more. Making use of this cutting-edge technology can help to reach new customers and create ground-breaking mobile phone application. The adoption of remote work and collaboration tools has been pushed by the COVID-19 pandemic. This pattern is anticipated to persist even after the pandemic, providing chances for developers of mobile apps to come up with tools that help with distant work, virtual meetings, project management, and team collaboration.
The global mobile application industry is dominated by key players such as Microsoft Corporation, Hewlett Packard Enterprise Development LP, Apple Inc., Intellectsoft US, Cognizant, Google LLC, Verbat Technologies, International Business Machines Corporation, CA Technologies, Inc., and China Mobile Limited. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the mobile application industry globally.
According to a new report published by Allied Market Research, titled, “Children Entertainment Centers Market," The children entertainment centers market was valued at $11.5 billion in 2022, and is estimated to reach $30.7 billion by 2032, growing at a CAGR of 10.6% from 2023 to 2032.
Children entertainment centers are dedicated recreational spaces designed to provide a wide array of amusement, play, and learning opportunities for kids. These centers typically offer a diverse range of activities and attractions specifically tailored to engage and entertain children of various age groups. They often feature playgrounds, themed play zones, interactive games, rides, and activities that promote physical activity, creativity, and cognitive development. Many entertainment centers incorporate elements of education into their offerings, aiming to make learning enjoyable through interactive exhibits or educational games. Safety is a paramount consideration, with these centers usually implementing stringent safety measures to ensure a secure environment for children. In addition to play areas, they might include spaces for hosting birthday parties, events, or workshops, offering a comprehensive entertainment package for families. The centers often prioritize creating a clean, well-maintained, and welcoming environment for both kids and parents, ensuring a positive overall experience. Moreover, children entertainment centers often adapt to technological trends by integrating interactive digital activities or incorporating technology-driven games to stay relevant and engaging. These centers serve as a go-to destination for families seeking a blend of fun, learning, and social interaction in a controlled and entertaining setting.
Additionally, the children entertainment centers market analysis is expected to witness notable growth, owing to continuous launch of new entertainment centers supporting family activities, F&B integration, and participatory play, increase in number of malls and favorable youth demographics. Moreover, the surge in investments in new games and attractions is expected to provide a lucrative opportunity for the growth of the market during the forecast period. On the contrary, the increase in ticket prices limits the growth of the children entertainment centers market.
On the basis of revenue source, arcade studios dominated the children entertainment centers market size in 2022, owing to the fusion of classic arcade games with modern technology, offering a diverse mix of experiences. This means integrating traditional arcade games with the latest advancements in gaming, such as virtual reality (VR), augmented reality (AR), and interactive motion-based gaming. However, the AR and VR gaming zones is expected to witness the fastest growth, owing to the increasing number of investments in a diverse display of AR and VR experiences, moving beyond simple gaming to incorporate educational and interactive storytelling elements. These experiences range from simulated educational adventures to storytelling in VR environments, enhancing the immersive aspect and offering children a blend of entertainment and learning.
Region-wise North America dominated the children entertainment centers market share in 2022, owing to the expansion of interactive and themed experiences within these entertainment centers. Moreover, there is a surge in emphasis on creating immersive environments that transport children into fantastical worlds through themed play areas, adventure zones, and storytelling-driven attractions. However, Asia-Pacific is expected to witness the fastest growth in the upcoming year, owing to the availability of a high number of malls in the region. The largest malls in the world are mostly in the Asia-Pacific region, accounting for nearly 80% of the retail space under construction globally. Moreover, the consistently growing middle-class population and increase in disposable income are the major factors that drive the market growth in this region.
The COVID-19 pandemic has had a profound impact on children entertainment centers, significantly altering their operations and visitor experiences. These centers, often bustling hubs for families, faced unprecedented challenges due to lockdowns, social distancing mandates, and safety concerns. Closures or severe limitations in capacity affected these venues, leading to revenue loss and financial strain. To adapt, many centers implemented stringent safety protocols, such as enhanced cleaning measures, reduced capacities, and mandatory mask mandates, impacting the overall ambiance and visitor capacity. Furthermore, concerns about virus transmission significantly altered visitor behavior, with families being more cautious about spending time in enclosed spaces. The pandemic accelerated the adoption of online and at-home entertainment options, diverting attention away from physical entertainment centers. The financial impact and shifts in consumer behavior led to closures or limited services for several entertainment centers, reshaping the landscape of this industry. Although some centers innovated by introducing virtual experiences or enhancing outdoor offerings, the overall impact of COVID-19 on these spaces was substantial, emphasizing the need for ongoing adaptation and flexibility in response to ever-changing circumstances.
The key players profiled in the children entertainment centers industry analysis are Disney, LEGO System A/S, Dave and Buster’s, Inc., SCENE75 ENTERTAINMENT CENTERS LLC, CEC Entertainment Concepts, LP., Funriders, KidZania, LANDMARK GROUP, SMAAASH, and Cinergy Entertainment Group. These players have adopted various strategies to increase their market penetration and strengthen their position in the children entertainment centers industry.
According to a new report published by Allied Market Research, titled, “Asia-Pacific Smart Building Market by Component, Solution, Building Type and Region: Opportunity Analysis and Industry Forecast, 2023–2032”, the Asia-Pacific smart building market size is expected to reach $17.59 billion in 2032, from $4.26 billion in 2022, growing at a CAGR of 15.3% from 2023 to 2032.
Smart buildings are capable of utilizing Internet of Things (IoT) devices, such as sensors, software, and Internet connectivity to monitor various building attributes, analyze data, and provide insights about use patterns and trends that may be used to improve the building's environment and operations. The most fundamental feature of a smart building is that the core systems within it are linked. Connecting smart technology, such as real-time IoT occupancy sensors and building management systems together, means users can share information that can be used to automate various processes, including, but not limited to, heating, ventilation, lighting, air conditioning, and security.
The surge in adoption of smart buildings is driven by the growing need for better utilization of the building (and building premises) and the need for better resource management in urban environments. In addition, the growth in the need for public safety and security fuels the growth of the Asia-Pacific smart building market. However, the lack of strong regulations limits the growth of the market. Conversely, the emergence of artificial intelligence and other advanced technologies ranging from drones to analytics, and artificial reality (AR) and virtual reality (VR), are anticipated to provide numerous opportunities for expansion of the Asia-Pacific smart building market during the forecast period.
On the other hand, the lack of strong government regulations promoting this market in Asia-Pacific acts as a hindrance. Nevertheless, the advancement in IoT field and other types of smart building technologies provides significant opportunities for growth of smart building market in Asia-Pacific. Internet of Things (IoT) is one of the most important technologies used in smart building market. It connects multiple devices through a common Internet Protocol (IP) platform to exchange and analyze information. This has led to its numerous applications in smart building market such as smart HVAC (heating, ventilation and air conditioning) and smart lighting to enhance guest and employee experience. A variety of other technologies are used in smart buildings such as artificial intelligence (AI) and machine learning (ML), building automation and building information modeling (BIM), artificial reality (AR) and virtual reality (VR), and aerial drones.
The market for Asia-Pacific smart buildings is segmented by component, with solutions dominating the market in 2022 and holding the largest share. However, the services segment is projected to experience a more rapid expansion during the forecast period. The share of solutions segment is driven by its use IoT technology, which enables efficient and economical use of resources, such as IoT sensors, analytics software, a user interface, and means of connectivity.
In terms of market segmentation by solutions, the Asia-Pacific smart building market was dominated by security and emergency management (SEM) segment in 2022, and energy management segment is expected to expand at the fastest rate. The demand for SEM in smart building is increasing owing to intelligent evacuation systems that combine Internet of Things (IoT), fog layer, and cloud layer. Under tenant management segment, the tenant facility management sub-segment garnered the highest share in 2022, whereas tenant sales management sub-segment is expected to grow at the fast rate. The use of tenant facility management solutions allow building owners and facility managers to automate many mundane and daily tasks such as vendor management, attendance, inventory management, utility monitoring, billing, surveys, complaints, patrolling and visitor management.
In terms of building type, the Asia-Pacific smart building market was dominated by commercial segment and residential segment is likely to expand at the fastest rate. The rise in adoption of Internet of Things (IoT) in commercial buildings fuels the market growth. Smart buildings help to reduce energy consumption, they realize significant cost-savings, and are able to provide a much more user-friendly experience, adapting automatically to the needs of commercial building users.
In terms of countries, the Asia-Pacific smart building market was dominated by Australia in 2022, and Vietnam is likely to grow at a fastest rate during the forecast period. Supporting government regulations and standards are supporting the growth of the smart building market in Australia. For instance, in August 2023, CSIRO, Australia’s national science agency launched a new $11 million project to drive the development of new technology to support flexible demand for energy, empowering consumers to have more control over their electricity usage, save money and ease pressure on the energy grid.
Key Findings of the Study
The Asia-Pacific smart building market players profiled in the report include Cisco Systems, IBM Corporation, Honeywell International, Siemens, Johnson Controls, ABB, PTC, Huawei Technologies Co. Ltd., Hitachi Ltd., and Intel Corporation. Various strategies such as collaborations & partnerships, product launches, and acquisitions have been adopted by market players to expand their foothold in the Asia-Pacific smart building market.
According to a recent report published by Allied Market Research, titled, “Serious Games Market by Gaming Platform, Application, Industry Vertical and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The serious games market was valued at $5.94 billion in 2020, and is projected to reach $32.72 billion by 2030, registering a CAGR of 18.47%.
The market is impacted by factors such as increase in need for better user engagement platforms across enterprises, surge in usage of mobile-based educational games, and significant adoption of virtual reality in training & development activities. However, lack of awareness about the advantages & usage of serious game, and unsuitable game design are anticipated to hamper the serious games market size.
On the basis of gaming platform, the smartphone segment dominated the serious games market in 2020, and is expected to continue this trend during the forecast period. With the rapid rise in mobile gaming in the past five years, smartphones are anticipated to gain market traction in the coming years. One of the perks of this gaming platform is its cost-effectiveness.
According to the application, the simulation and training segment dominated the serious games market in 2020, and is expected to maintain its dominance in the upcoming years. This is attributed to ongoing trend of game-based learning among organizations to achieve impressive performance results from employees. Serious games are being used in a variety of simulation and training use cases, such as corporate education, emergency services training, and health care among other purposes. However, the research and planning segment is expected to witness highest growth rate during the serious games market forecast period.
In 2020, on the basis of industry vertical, the education segment dominated the global serious games market growth, and is expected to maintain its dominance in the upcoming years. Serious games help in gaining extended retention, efficient memorization, can be customized, create huge volume of information, offer interactive & attractive interaction with individuals, and save time & costs. In addition, they help in understanding cultural heritage with an interactive session that is expected to attract students’ attention. Other factors positively affecting the adoption of serious games in the education industry include rise in usage of inexpensive & ubiquitous hardware, availability of robust networks that enable easy connectivity, adoption of brain science software, and pressure on educational institutes to enhance the skills of students
Post COVID-19, the market was valued at $5.94 billion in 2020, and is projected to reach $32.72 billion by 2030, registering a CAGR of 18.47%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 pandemic forced the closure of schools all around the world. Over 1.2 billion youngsters are out of school worldwide. As a result, education has undergone significant transformations, with the rise of e-learning, in which instruction is done remotely and via digital platforms.
Unfortunately, this has decreased kids' enthusiasm for learning. To overcome this issue, e-learning systems have incorporated serious games into their platforms to make learning more engaging. According to BYJU'S, an Indian e-learning platform, creative integration of games exhibited higher engagement and enhanced enthusiasm toward learning, especially among younger students, over time. As a result, people have become more aware of the market under investigation. Furthermore, on March 30, 2020, during the current public health crisis caused by COVID-19, the International Nursing Association of Clinical Simulation and Learning (INACSL) and the Society for Simulation in Healthcare (SSH) supported the use of virtual simulation as a replacement for clinical hours for students currently enrolled in health sciences professions (i.e., nursing students, medical students).
Some of the key serious games industry players profiled in the report include BreakAway, Ltd., Designing Digitally, Inc., DIGINEXT, IBM Corporation, Cisco Systems Inc., Virtual Heroes, Inc., Nintendo Co., Ltd., Promotion Software GmbH, Revelian, and Tata Interactive Systems. This study includes market share, trends, serious games market analysis, and future estimations to determine the imminent investment pockets.
According to a new report published by Allied Market Research, titled, “Automotive Carbon Wheels Market," The automotive carbon wheels market was valued at $626.00 million in 2021, and is estimated to reach $1.5 billion by 2030, growing at a CAGR of 9.9% from 2022 to 2030.
Automotive carbon wheels are designed for use in high-performance vehicles such as sports cars and SUVs, where wheel strength, weight, and vibration dampening capabilities are critical. People's disposable income has increased, increasing their purchasing power and increasing their preference for luxury items such as performance vehicles. Automobili Lamborghini S.p.A., a German performance car manufacturer, saw a 43% increase in sales in 2019 with a total of 8,205 units sold globally, up from 5,750 units sold the previous year. As a result, the global automotive carbon wheel market is being propelled by an increase in the sale of performance vehicles.
Automotive carbon wheels are also lightweight and strong wheels made of carbon fibre reinforced polymers. These wheels are commonly used to improve speed efficiency in luxury and premium vehicles. Rising premium and luxury vehicle ownership, as well as an increase in the number of Ultra-High and High Net Worth Individuals (HNWI), will drive industry growth. Furthermore, vehicle owners' ongoing efforts to improve efficiency, performance, and aesthetic appeal will drive up demand for aftermarket automotive carbon wheels. As a result, all of these factors are expected to gain traction for automotive carbon wheels.
The global automotive carbon wheels market is segmented on the basis of vehicle type, distribution channel and region. By vehicle type, the market has been divided into passenger cars, commercial vehicles, and two-wheelers. By distribution channel, the analysis has been divided into OEM and aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Carbon Revolution, Dymag Group Limited, ESE Carbon, ROTOBOX d.o.o., Litespeed Racing LLC, HITACHI METALS, LTD., Phoenix Wheel Company, Inc., Rolko Kohlgrüber GmbH, Thyssenkrupp AG, and Ronal Group.
The report focuses on the global automotive carbon wheels market. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for automotive carbon wheels in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL AUTOMOTIVE CARBON WHEELS MARKET
Key Findings of the Study
According to a new report published by Allied Market Research, titled, “AI Powered Storage Market, By Component (Hardware, Software), By Storage System (Direct Attached Storage, Network Attached Storage, Storage Area Network), By Storage Architecture (File And Object Based Storage, Object Storage), By Storage Medium (Hard Disk Drive, Solid State Drive), By End User (Enterprises, Government Bodies, Cloud Service Providers, Telecom Companies): Global Opportunity Analysis And Industry Forecast, 2022-2031". The ai powered storage market size was valued at $15.6 billion in 2021, and is estimated to reach $162.5 billion by 2031, growing at a CAGR of 26.7% from 2022 to 2031.
Rising demand of secured data storage and real-time updating from different sources has increased the adoption of AI powered storage. AI powered storage optimizes and automates the workflow making it easier for enterprises to store huge amount of critical data. Moreover, the scalability offered by AI can easily fulfill the rising demand of real-time data processing. This further propels the Artificial Intelligence Powered Storage Market growth.
Furthermore, rise in adoption of cloud-based application and services and adoption of robotics in warehousing is boosting the growth of the global AI powered storage market. However, lack of professionals in AI hardware and irregularity of AI algorithms is hampering the AI powered storage market growth. On the contrary, increase in demands of Al for high performance computing data is expected to offer remunerative opportunities for expansion during the AI powered storage market forecast.
Depending on storage architecture, file and object storage segment is dominating the AI Powered Storage Market Share in 2021 and is expected to do so during the forecast period, as owing to increase in amount of data in developing economies in Asia-Pacific including China, Japan, and India.
However, object-based storage segment is anticipated to have the highest growth in the forecast period due to, owing to rise in complexity, data organization, threat in business system, and demand of smooth technique, which leads to excessive opposition throughout industries..
Depending on region, North America dominated the market in 2021. This is attributed to growing developments in technology and digitalization of market in this region leading to adoption of AI powered storage to protect critical data of organizations. However, Asia-Pacific is expected to witness highest growth in the upcoming years, owing to increased cyber threats and rapid shift toward cloud-based platforms in this region.
COVID -19 outbreak has significantly impacted the AI powered storage market. COVID-19 outbreak has significantly impacted the AI powered storage market for good. It led to complete shutdown of manufacturing and production across the globe. The global economy was also severely impacted by this pandemic which further generated hurdles for many industries and businesses globally.
However, the demand for advanced technologies to ease the remote working conditions increased. This further propelled new innovative approaches of utilizing machine learning and artificial intelligence. Further, many enterprises extensively adopted AI powered storage for real-time data storage to enhance their business model and reduce the turnaround time. Moreover, this upsurge has driven significant investments in this market globally.
KEY FINDINGS OF THE STUDY
By component, the hardware segment dominated the AI powered storage market in 2021. However, the software segment is expected to exhibit significant growth during the forecast period.
On the basis of storage system, the direct attached storage segment dominated the AI powered storage market in 2021.However, the network attached storage segment is expected to witness the highest growth rate during the forecast period.
On the basis of storage architecture, the file and object based storage segment dominated the AI powered storage market in 2021.However, the object storage segment is expected to witness the highest growth rate during the forecast period.
On the basis of storage medium, the hard disk drive segment dominated the AI powered storage market in 2021.However, the solid state drive segment is expected to witness the highest growth rate during the forecast period.
On the basis of end-user, enterprise segment dominated the AI powered storage market in 2021.However, the government bodies segment is expected to witness the highest growth rate during the forecast period.
Region-wise, the AI powered storage market analysis was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
This report gives an in-depth profile of some key AI Powered Storage Industry players in the AI powered storage market include Advanced Micro Devices, Amazon Web Services, CISCO, Dell Technologies, Fujitsu, Google, Hitachi, HPE, Intel Corporation, Lenovo, Micron Technology, Microsoft, NetApp, IBM, Pure Storage, Samsung Electronics, and Toshiba. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the AI powered storage industry globally.
According to a new report published by Allied Market Research, titled, “Automotive Ethernet Market," The automotive ethernet market was valued at $2.1 billion in 2021 and is estimated to reach $8.8 billion by 2031, growing at a CAGR of 14.4% from 2022 to 2031.
The widespread use of advanced driver assistant systems (ADAS), infotainment, the quick advancement of autonomous vehicle technology, and the low cost of ethernet have all contributed to the enormous growth of automotive ethernet because it connects in-vehicle electronic systems more effectively than traditional harness does. Vehicle ethernet provides connectivity for a variety of automotive applications, including ADAS, infotainment systems, body and comfort, powertrain, and chassis. The difficulties that designers and engineers encounter when integrating various systems are addressed by providing high bandwidth applications that operate at either high or low speed. All car components can connect using thinner, more efficient wires thanks to Ethernet's propensity to forego conventional cabling for communication. In a connected car, the system must be kept "always on" due to the high-performance navigation systems, high-end entertainment, and telematics. The market for ethernet deployments has been driven by the growing amount of bandwidth available for in-vehicle data connections.
Globally, the development of electric vehicles (EVs) has shown potential during the past few years. Automobile original equipment manufacturers (OEMs) have made large financial investments in the development of EVs. The government has launched several efforts to speed up the manufacture of EVs for the consumer and business markets. The proliferation of EVs around the world has been fueled by technological developments and the growth of the complete ecosystem, including improvements in chipsets and modules, the accessibility of lithium-ion batteries, and the modernization of charging infrastructure. The main factors promoting EV production are, in brief, government legislation, consumer economy growth, OEM investments, and technological developments. These aspects are anticipated to fuel the automotive ethernet market size during the forecast period.
In the in-car infrastructure, connectivity is crucial. The in-vehicle communication market has been dominated by Controlled Area Network (CAN), Local Interconnect Network (LIN), FlexRay, and Radio Frequency (RF) for the past few decades. Traditional technologies are frequently used by automotive OEMs and Tier 1 suppliers for the in-car network. These discrete protocols provide end-to-end connectivity for the vehicle's Engine Control Units (ECU). Some technologies, like MOST and FlexRay, were created to support brand-new ADAS and infotainment application areas. However, technologies are insufficient to provide high bandwidth and low latency for infotainment applications.
The development of sophisticated IoT applications that need high bandwidth is now possible thanks to the standardized high bandwidth ethernet. The demand for high bandwidth connectivity for in-vehicle computer systems is anticipated to rise further as these applications proliferate. In 2015, the establishment of the 100BASE-T1 Physical Layer (PHY) standard by the Institute of Electrical and Electronics Engineers (IEEE) for high-speed 100Mbps ethernet. Application developers have a lot of opportunities thanks to high-speed ethernet. It can also provide in-vehicle real-time connectivity with the outside world and has an impact on the vehicle's functional design. The ability to access the outside world in a connected car allows the user additional freedom to select programs from OEMs, partners, or third-party application providers.
The global automotive ethernet market is segmented based on component, vehicle type, application, and region. By component, it is classified into hardware, software, and services. By vehicle type, it is classified into passenger cars and commercial vehicles. By application, it is classified into chassis, infotainment, driver assistance, power train, body & comfort, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the automotive ethernet market report include Vector Informatik GmbH, NXP Semiconductors N. V., Marvell Semiconductor, Inc., Molex, Broadcom Inc., Microchip Technology Inc., Aukua Systems, Keysight Technologies, Cadence Design Systems, Inc, and Texas Instruments Incorporated.
The report offers a comprehensive analysis of the global automotive ethernet market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
Impact of Covid-19 on the Global Automotive Ethernet Industry
Key Findings of the Study
According to a new report published by Allied Market Research, titled, “Building Information Modeling Market," The building information modeling market size was valued at $7.9 billion in 2022, and is estimated to reach $34.2 billion by 2032, growing at a CAGR of 16% from 2023 to 2032 during the building information modeling market forecast.
Buidling Information Modeling (BIM) deals with the ability to create and manage digital representations of location's functional and physical attributes. Different technologies, tools and contracts support BIM. People use BIM computer files to manage buildings and various physical infrastructures, such as water, garbage, electricity, gas, communication utilities, roads, railroads, bridges, ports, and tunnels. Moreover, government and other businesses also use BIM software. BIM is a collabrative process that combines information. The goal of BIM is to improve the design, construction and the operation of infrastructure buildings.
Major market players adopted various strategies to increase the competition and offer enhanced services to their customers during the building information modeling market analysis. For instance, in December 2020, Nemetschek Group acquired DEXMA. DEXMA is a rapidly expanding supplier of cutting-edge software as a service (SaaS) solutions for energy data management that use artificial intelligence (AI) and machine learning (ML) capabilities. The organization facilitates efficient measurement, tracking, and administration of energy expenses and usage for more than 4,000 clients across 30 nations. In addition, in December 2021, Beck Technology Limited launched upgraded version of its product Destini estimator. The version includes ability to copy estimates and templates, support for multiple measurement systems (both Metric and Imperial), simplified user interface, track productivity data so teams can build more efficient estimating processes, and support for system-level quantities from BIM 360. Therefore, such strategies foster the growth of BIM market size in the ICT sector.
Based on component, the solution segment is dominating the building information modeling market share in the year 2022. This is attributed to the various features provided by the BIM software such as 3D visualization of buildings, reduced costs and time, and flexible design changing of construction models.
Based on deployment-mode, the on-premise segment is dominating the building information modeling market share in the year 2022. This is attributed to the feasibility of full control and accessibility provided to construction companies through on-premise BIM software.
Based on building type, the commercial segment is dominating the building information modeling market share in the year 2022. This is attributed to the increasing demand for BIM software by commercial sector as the software provides various features such as 3D visualization of buildings, reduced costs and time, and flexible design changing of construction models.
Based on application, the planning and modelling segment is dominating the building information modeling market share in the year 2022. This is attributed to the major role BIM software plays in the initiation stage of planning and designing, hence the use of BIM software is growing in this segment.
Based on end-user, the architects/engineer is dominating the building information modeling market in the year 2022. This is attributed to the heavy implementation of BIM software by engineers and architects to produce infrastructures.
Based on region, North America dominated the building information modeling industry in the year 2022. This is attributed to the increasing demand for modernization in the construction sector and increasing enforcement of sustainability measures and energy efficient operations in the construction sector.
By component, the solution segment led the BIM industry in terms of revenue in 2022.
By deployment mode, the on-premise segment led the BIM industry in terms of revenue in 2022.
By building type, the commercial segment led the BIM industry in terms of revenue in 2022.
By application, the planning and modelling segment led the BIM industry in terms of revenue in 2022.
By end-user, the architects/engineer segment led the BIM industry in terms of revenue in 2022.
By region, North America generated the highest revenue in BIM market in 2022.
The key players profiled in the building information modeling in ICT market analysis are Aveva Group Plc., Hexagon AB, Trimble Inc., Autodesk Inc., Beck Technolgy Ltd., Pentagon Solution Ltd., Nemetschek SE, Bentley Systems Inc., Dassault Systemes, and Asite Solutions Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the building information modeling industry.