Procurement As A Service Market Outlook, COVID-19 Analysis, Share and Future Growth Analysis, Size, Development

The global procurement as a service market size is expected to reach USD 10.29 billion by 2028 and is anticipated to expand at a CAGR of 8.2% from 2021 to 2028, according to a new report by Grand View Research, Inc. The proliferation of digital technology and the need to address supply chain risks have contributed to market growth. Although the COIVD-19 pandemic posed a minor hiccup to the otherwise positive market outlook, the industry may reach pre-covid levels by 2022. On average, over 60 percent of the organization's spending is captured by sourcing and procurement-related functions. Therefore the demand for providers that help reduce this cost will drive market growth over the forecast period.

Digital transformation has resulted in a shift towards a cloud environment, where procurement service providers update their solutions to web-based applications. Cloud offers flexibility and ease, subsequently helping service providers to lower storage data costs. This further helps in improving business operations and making custom solutions available to the end markets. In addition to the cloud, AI is also making its way into the procurement service business with a unique selling point of offering data analytics while enhancing operations. All these features and benefits clubbed together create lucrative opportunities for industry incumbents to increase their customer base and bode well for market growth.

Owing to the need to manage complex procurement contracts, the demand for procurement services is gaining traction among small and medium-sized businesses. Deals involving contracts require expertise and time to deliver, and hence procurement as a service is a popular choice among SMEs. These services help companies focus on core competencies while outsourcing time-consuming and intricate tasks.

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Procurement As A Service Market Report Highlights

• The global market, although witnessed a minor setback in 2020, the market is estimated to reach pre-covid levels by the end of 2022. From 2021 to 2028, the overall market will register an estimated CAGR exceeding 8%
• Large enterprises have been the major revenue contributors and will continue to dominate overall demand by 2028, reaching over USD 5,000 million
• The manufacturing sector would continue dominating the overall demand through 2028. The sectoral demand for procurement as a service solution will surpass USD 1,000 million in 2021 and will register a CAGR exceeding 7% over the next seven years
• North America trailed Europe in 2020 and is expected to emerge as a dominant regional market by 2028, registering a CAGR of around 8% from 2021 to 2028. Increased demand for outsourcing supply chain operations to deal with unpredictable industry dynamics will contribute heavily towards regional growth over the future
• Accenture, Aegis, HCL Technologies Ltd., IBM, GEP, Genpact, Infosys, Wipro, WNS (Holdings) Ltd., and Tata Consultancy Services Limited, are a few players leading industry dominance. M&A will continue to be a fundamental strategy outlook for several players in this business

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Procurement as a Service Market Segmentation

Grand View Research has segmented the global procurement as a service market based on component, organization, vertical, and region:

Procurement as a Service Component Outlook (Revenue, USD Million, 2016 - 2028)

• Strategic Sourcing
• Spend Management
• Process Management
• Category Management
• Contract Management
• Transaction Management

Procurement as a Service Organization Outlook (Revenue, USD Million, 2016 - 2028)

• SMEs
• Large Enterprises

Procurement as a Service Vertical Outlook (Revenue, USD Million, 2016 - 2028)

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

Procurement as a Service Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players in the Procurement as a Service Market

• Accenture
• HCL Technologies Ltd
• Aegis
• GEP
• IBM
• Infosys
• Genpact
• Wipro
• WNS (Holdings) Ltd.
• Tata Consultancy Services Limited

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 info visit @ https://www.grandviewresearch.com

 

Electric Kick Scooters Market Size, Revenue, Business Growth, Applications And Future Demand By 2028

The global electric kick scooters market size is expected to reach USD 5.2 billion by 2028, according to a study conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.3% from 2021 to 2028. The growth of the market is attributed to the increasing penetration of cost-effective electric scooter sharing services across the globe.

While the market is expected to witness promising growth opportunities in the long run, the COVID-19 pandemic is likely to negatively impact the market. Strict restrictions on transportation activities and lockdowns in the first half of 2020 paralyzed electric kick scooter retail business activities across the globe. While manufacturing and supply chain activities were severely disrupted, the situation was particularly challenging for the manufacturers and dealers of electric kick scooters. In the near future, however, the fear of public transportation could motivate consumers to seek alternate modes of transportation, thereby driving the market. The pandemic is expected to be an accelerator for the transition to sustainable mobility.

The need for product differentiation and the introduction of next-generation technology is anticipated to favor market growth. One of the key factors expected to boost demand for the two-wheeler is the shrinking parking spaces in metro cities. In recent times, these two-wheelers have gained prominence in countries such as the U.S., Germany, France, and Spain. The growing need to avoid traffic congestions and increased demand for micro-mobility options have encouraged vendors to manufacture folding electric scooters. These two-wheelers offer flexibility with minimum energy consumption and can be easily folded to the size of a suitcase.

An increase in greenhouse gas emissions has resulted in initiatives to combat climate change with hopes pinned on e-mobility. Several countries globally have started enacting climate change action plans to reduce vehicular emissions by adopting sustainable and eco-friendly transportation options. Furthermore, investments in clean energy and initiatives that are taken by governments to curb CO₂ emissions are expected to boost the demand for electric scooters over the coming years.

North America is expected to be the fastest-growing regional market over the next few years. The U.S. is anticipated to emerge as an early adopter of e-scooters due to high technology penetration and developed e-charging infrastructure.

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Electric Kick Scooters Market Report Highlights

• The Lithium-Ion (Li-Ion) segment dominated the market in 2020 and is expected to reach USD 3.4 billion by 2028
• The 36V segment dominated the market in 2020 and is expected to reach USD 2.9 billion by 2028
• Asia Pacific is projected to account for the majority market share and is expected to reach USD 3.5 billion by 2028

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Electric Kick Scooters Market Segmentation

Grand View Research has segmented the global electric kick scooters market on the basis of battery, voltage, and region:

Electric Kick Scooters Battery Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Sealed Lead Acid (SLA)
• Nickel Metal Hydride (NiMH)
• Lithium-Ion (Li-Ion)

Electric Kick Scooters Voltage Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Below 24V
• 36V
• 48V
• Greater than 48V

Electric Kick Scooters Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Electric Kick Scooters Market

• Jiangsu Xinri E-Vehicle Co. Ltd.
• YADEA Technology Group Co., Ltd.
• Bird Rides, Inc.
• SWAGTRON
• SEGWAY INC.
• Xiaomi
• iconBIT GmbH

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 info visit @ https://www.grandviewresearch.com

 

U.S. HVAC Systems Market Size, Future Growth Analysis And Latest Demand

The U.S. HVAC systems market size is anticipated to reach USD 23.78 billion by 2028, according to a new study by Grand View Research Inc. It is expected to expand at a 6.0% CAGR from 2021 to 2028. Changing climatic conditions is the primary factor driving HVAC (Heating, Ventilation, and Air Conditioning) equipment demand in the country. Additionally, the adoption of technologically advanced systems that offer smart connectivity and remote operation is expected to be a significant factor influencing the market growth.

Strict government regulations aimed at reducing energy consumption and carbon emissions from HVAC systems are anticipated to play an imperative role in market growth. To help consumers make an informed decision, the U.S. government has introduced the Energy Star Program that provides energy ratings that indicate the efficiency performance, and savings for each product. Such programs, coupled with active efforts taken by HVAC providers to provide energy-efficient products, are expected to fuel the growth of energy-efficient equipment over the forecast period.

The market for HVAC systems in the U.S. is characterized by intense competition, with several major players dominating the market. Companies adopt different strategies to maintain their grip on the market. For instance, Carrier Corporation, a popular name among consumers, completed its separation from United Technologies Corporation (UTC) in April 2020. Operating independently will help Carrier Corporation to improve its product offerings and geographical presence, thus, improving its presence in the market.

Despite all the above-mentioned benefits and efforts, high installation and maintenance costs, coupled with the complexity of retrofitting HVAC installations, are expected to pose a challenge to the market growth. However, companies are offering discounted repair and maintenance services to attract customers and promote HVAC sales across the country. Additionally, government regulations to eliminate the usage of refrigerants such as R-22 or HCFC-22 in cooling systems are expected to boost sales of newer systems in the next seven years.

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U.S. HVAC Systems Market Report Highlights

• Cooling systems held the largest revenue share of more than 55% in 2020. The large revenue share is attributable to the fact that the U.S. is one of the leading consumers of air conditioning systems in the world
• Owing to the increasing office spaces, hospitals, hotels, and other commercial constructions, the commercial segment is anticipated to record the fastest growth of 6.6% from 2021 to 2028
• The large population is the primary factor contributing to the large revenue share and the high CAGR of the Western region
• Companies operating in the market are investing heavily in research and development to offer a technologically advanced product in an attempt to beat market competition via product differentiation  

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U.S. HVAC Systems Market Segmentation

Grand View Research has segmented the U.S. HVAC systems market based on product, end-use, and region:

U.S. HVAC System Product Outlook (Revenue, USD Billion, 2017 - 2028)

• Heating
• Ventilation
• Cooling

U.S. HVAC System End-use Outlook (Revenue, USD Billion, 2017 - 2028)

• Residential
• Commercial
• Industrial

U.S. HVAC System Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• Northeast
• Southeast
• Midwest
• Southwest
• West

List of Key Players of U.S. HVAC (Heating, Ventilation, and Air Conditioning) Systems Market

• Carrier Corporation
• Daikin Industries, Ltd.
• Emerson Electric Co.
• Johnson Controls International plc
• Lennox International, Inc.
• Trane Technologies

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 info visit @ https://www.grandviewresearch.com

Brushless DC Motor Market Size, Revenue, Business Growth, Development Factors, Applications And Future Demand By 2028

The global brushless DC motor market size is expected to reach USD 26.3 billion by 2028, registering a CAGR of 5.7% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. These motors are thermally resistant, require low maintenance, and operate at low temperatures, eliminating any threat of sparks. Low-cost maintenance, high efficiency at lower costs, and the rising adoption of Electric Vehicles (EVs) are some of the key factors driving the product demand over the forecast period.

The emergence of sensor-less controls for brushless DC (BLDC) type is likely to boost the durability and reliability of the product, thereby reducing the number of mechanical misalignments, electrical connections, as well as the weight and size of the end product. These factors are further estimated to drive market growth over the forecast period. Furthermore, the growing production of vehicles, globally, to cope up with the rising demand is anticipated to have a positive impact on the market growth.

The product is extensively used in motorized vehicle applications, such as in sunroof systems, motorized seats, and adjustable mirrors. In addition, these powertrains are extensively being preferred for performance applications in vehicles, such as chassis fittings, power-train systems, and safety fittings, owing to simple structure, fewer maintenance requirements, and extended operational life. Thus, increasing product adoption by the automobile industry for multiple applications is anticipated to drive the market over the forecast period.

Rising product usage in EVs in mechatronic systems, primarily in batteries for accumulators and power electronic converters, owing to advantages, such as high operating speed, compact size, and quick response time, will also augment the market growth. The production of EVs is on the rise, globally, supported by government initiatives to encourage the usage of non-conventional fuels and effectively reduce the adverse impacts of carbon emissions. Thus, the increasing EV production is anticipated to directly influence the product demand over the forecast period.

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Brushless DC Motor Market Report Highlights

• The 0-750 Watts segment is expected to witness the fastest CAGR from 2021 to 2028 due to extensive applications of these products in motor vehicles and household devices applications
• Extensive product usage in vehicles for a variety of applications, increased production of automobiles and EVs across the globe are anticipated to drive the growth of the motor vehicle end-use segment over the forecast period
• The industrial machinery end-use segment accounted for the second-highest revenue share of over 24% of the global market in 2020
• This growth was credited to the wide product usage in various industrial machines owing to its advantages, such as high efficiency, low power consumption, and low-cost maintenance
• Asia Pacific is expected to emerge as the fastest-growing regional market registering a CAGR of over 6% from 2021 to 2028
• Rapid industrialization in developing nations, such as China, India, and South Korea, has fueled product adoption in the regional market
• The market is fragmented and most of the major companies are focusing on developing low-maintenance and eco-friendly products to gain a competitive edge

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Brushless DC Motor Market Segmentation

Grand View Research has segmented the global brushless DC motor market based on power output, end-use, and region:

Brushless DC Motors Power Output Outlook (Revenue, USD Million, 2016 - 2028)

• 0 - 750 Watts
• 750 Watts to 3 kW
• 3 kW - 75 kW
• Above 75 kW

Brushless DC Motors End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Industrial Machinery
• Motor Vehicles
• Safety
• Comfort
• Performance
• HVAC Equipment
• Aerospace & Transportation
• Household Appliances
• Others

Brushless DC Motors Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Brushless DC (BLDC) Motor Market

• ABB Ltd.
• Ametek, Inc.
• Johnson Electric
• Allied Motion Technologies, Inc.
• Baldor Electric Company, Inc.
• Johnson Electric
• North American Electric, Inc.
• Schneider Electric
• Regal Beloit Corp.

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 info visit @ https://www.grandviewresearch.com

 

Facade Market Procurement Intelligence, Supplier Ranking, Pricing Trends, Extensive Investments and Industry Analysis Report

The global facade market size is expected to reach USD 336.6 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The market is estimated to witness healthy growth over the forecast period owing to the development of advanced materials with capabilities that offer safety as well as visually appealing texture. Moreover, this exterior building face carries the attribute of both appearance and superior performance in a mode, unlike any other building system, which is expected to fuel the demand for the product over the next few years. The soaring need to lower heating and air-conditioning costs and achieve energy-efficiency is slated to stir up the demand for facades over the coming years. Growing focus on the development of sustainable products is likely to work in favor of the market.

The burgeoning popularity of green buildings and surging demand for high-transparency glasses that allow passage of light, while maintaining heat resistance, are poised to shape the future of the market. The market is projected to witness the application for high-performance and energy-saving solar control facades, which will contribute to higher economic benefits and eco-sustainability. Furthermore, the initiatives and regulations by government bodies, technological advancements, and the need for energy conservation are estimated to propel the market growth over the next seven years. The Green Building Initiative (GBI), a non-profit building assessment and certification organization in the U.S., awards ratings and prescribes principles for reducing the environmental impact. Such principles opted by companies may further spur the growth of the smart buildings industry, thereby stimulating the demand for smart building monitoring through facades.

Incidences of severe building fires have prompted public concern over the safety of facade materials. Facade materials play a vital role in fire safety as it is the outer part of the building that is directly in contact with fire. In addition, it is essential to select the cladding material at the design stage based on material combustion characteristics to significantly protect the buildings from fire. Thus, it is estimated to fuel the overall façade demand globally from 2021 to 2028.

Furthermore, the ongoing COVID-19 pandemic has had an adverse impact on the overall construction and real estate industry and subsequently, hampered market growth. However, with the announcement of economic relief packages across key countries, such as the U.S., India, the U.K., Germany, and others, the demand for facades is anticipated to see notable growth over the next seven years.

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Facade Market Report Highlights

• By product, the ventilated facades segment is anticipated to exhibit the fastest CAGR over the forecast period owing to its energy-saving advantages and rich aesthetics
• Various government initiatives towards infrastructure development and a rise in the PPP model are encouraging the construction of commercial properties across the globe, which is subsequently propelling the market growth
• The commercial end-use segment held the leading revenue share in 2020 owing to the significant adoption of façade products for buildings in commercial applications, such as offices, airports, stadiums, and hotels, globally
• Asia Pacific dominated the market with a share of over 35.0% in 2020 owing to the growing construction of new commercial and industrial buildings in China, India, and Southeast Asia
• Several prominent players are strategically concentrating on establishing partnerships and agreements to acquire big projects in order to boost their overall sales and profitability

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Facade Market Segmentation

Grand View Research has segmented the global facade market on the basis of product, end use, and region:

Facade Product Outlook (Revenue, USD Million, 2017 - 2028)

• Ventilated Facades
• Curtain walls
• Others
• Non-ventilated Facades
• Others

Facade End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Commercial
• Residential
• Industrial

Facade Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Poland
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa (MEA)
• Saudi Arabia
• Kuwait
• Bahrain
• Qatar
• UAE
• Oman

List of Key Players of Facade Market

• Rockpanel Group (ROCKWOOL B.V.)
• Aluplex
• Bouygues
• Enclos
• EOS Framing Limited
• Saint-Gobain Group
• AFS International B.V.
• Kingspan Group
• Lindner Group
• Fundermax
• Gartner (Permasteelisa Group)
• HansenGroup
• Hochtief
• National Enclosure Company, LLC.
• Schuco International (OTTO FUCHS KG)
• Skanska
• Trimo d.o.o.
• Norsk Hydro ASA
• YKK AP Inc.

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 info visit @ https://www.grandviewresearch.com

 

System Integration Market - In-Depth Industry Analysis, New Trends, and Future Growth Potential

The global system integration market size is expected to reach USD 582.5 billion by 2025, at a CAGR of 11.7% over the forecast period according to a study conducted by Grand View Research, Inc. Rising inclination towards cloud computing, demand for virtualization, and concerns over usage of automation and unified approach in business processes are some factors expected to positively impact the growth.

Growth of cloud computing technology coupled with increased government initiatives to encourage prominent vendors to introduce technological advancements and promote the adoption of cloud technology, is also expected to drive the market. For instance, the government of UAE has funded various projects, such as Smart Abu Dhabi and Smart Dubai, aimed at bringing digital transformation and accelerating economic growth. Such initiatives are expected to boost growth of the market in UAE.

The benefits of cloud integration include utility style costing, absence of single point of failure, scalability, location independence, and lack of investments in hardware promotes the acceptance and implementation of cloud integration solutions and services. Thus, various industries, such as financial services and software organizations leverage from cloud computing.

Increased investments by the key market players in system integration solutions, has significantly eliminated redundancies and positively impacted the IT infrastructure. Growing requirement for eliminating multiplicity, heterogeneity, and evolving distinctiveness of important applications and infrastructures is also anticipated to power the system integration market over the forecast period. However, high implementation costs and lack of standardize framework are some of the challenges affecting the market growth.

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System Integration Market Report Highlights

• IT and telecommunications accounted for over 15.0% of total market share in 2018 owing to increased penetration of 4G services and growing development of 5G infrastructure that has data-intensive networks and may lead to the high generation of data. Furthermore, growing number of telecom subscribers using smartphones and other handheld devices worldwide is anticipated to positively influence the segment growth, in turn propelling the market growth
• Rapid industrialization in various end-use industries and significant presence of SMEs, primarily in South East Asia, is expected to fuel the system integration market in Asia Pacific. Furthermore, rising government initiatives such as subsidies and financial support has also positively impacted the growth of SMEs in Asia Pacific. For instance, the Make in India initiative by the Government of India focuses on providing a 25% grant to SMEs, which is anticipated to fuel the market growth
• The market is highly consolidated and characterized by high competition with the presence of major global players such as Accenture; Cisco Systems, Inc.; Capgemini; Fujitsu Limited; Oracle Corporation; Infosys Limited; and HCL Technologies; among others. These players focus on entering into partnerships to enhance their market presence and also to offer enhanced product portfolio

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System Integration Market Segmentation

Grand View Research has segmented the global system integration market based on services, end use, and region:

System Integration Services Outlook (Revenue, USD Billion, 2014 - 2025)

• Infrastructure Integration
• Application Integration
• Consulting

System Integration End Use Outlook (Revenue, USD Billion, 2014 - 2025)

• IT & Telecommunications
• Defense & Security
• BFSI
• Oil & Gas
• Healthcare
• Transportation
• Retail
• Others

System Integration Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• South East Asia
• Australia
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• United Arab Emirates (UAE)
• South Africa

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 info visit @ https://www.grandviewresearch.com