Drone-Powered Business Solutions Market Poised to Surge $84.31 Billion By 2025

The global drone-powered business solutions market size is anticipated to reach USD 84.31 billion by 2025, according to a new report by Grand View Research, Inc. Drones have now moved past the hobby realm and are increasingly being used for a wide range of applications. Businesses across the world are exploring new applications of drones in their day-to-day operations.

Real-world applications for Unmanned Aerial Vehicles (UAVs) are expanding faster than ever across a broad range of industries, mainly due to the relaxation of some stringent regulations governing their use and robust investments. Responding to the rapidly evolving drone technology, various companies across the world are now creating new business and operating models for drone-based services.

The integration of drones into day-to-day business is presumed to significantly benefit agriculture, mapping and surveying, infrastructure maintenance, inspection, security & surveillance, and large-scale capital projects. Mining and insurance are expected to leverage the potential expansion of integrating drones into their operations to drive process improvement by gaining easy accessibility to high-quality data.

Businesses across the world are seeking to purchase data and information services rather than investing directly in the equipment. Innovative companies are rapidly exploring the usage of drones in aerial firefighting and emergency situations as well as to aid in the design of infrastructure and residential/commercial complexes.

U.S. drone-powered business solutions market, by solution type, 2014-2025 (USD Million)

U.S. drone-powered business solutions market

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www.grandviewresearch.com/industry-analysis/drone-powered-business-solutions-market

Further key findings from the report suggest:

  • Commercial drones and their applications are expected to become the next big export product for many European companies.
  • Drone service providers are now shifting their focus to data collection and processing due to limitations and difficulties in day-to-day data capturing operations, which, in turn, reduces the ability to scale business.
  • Legislative and regulatory aspects of drone operations are presently the key factors propelling the adoption of drone-powered business solution by various organizations across the world.
  • Bowing out of managing their in-house fleets of drones has been observed as an emerging trend among organizations. Instead, organizations are contracting with third-party service providers under the Drone as a Service (DaaS) license.
  • Poland was the pioneer to roll-out a legislation regarding the commercial application of drones, including insurance regulations, rules for Beyond Visible Line of Sight (BVLOS) flights, and required training for pilots, followed by Singapore and South Africa.

Grand View Research has segmented the global drone-powered business solutions market on the basis of solution type, drone type, application, end-use industry, and region.

Drone-Powered Business Solutions Type Outlook (Revenue, USD Million; 2014-2025)

  • Services
  • Software

Drone-Powered Business Solutions Drone Type Outlook (Revenue, USD Million; 2014-2025)

  • Multi-Rotor
  • Fixed-Wing
  • Others

Drone-Powered Business Solutions Application Outlook (Revenue, USD Million; 2014-2025)

  • Filming & Photography
  • Mapping & Surveying
  • Data Acquisition & Analytics
  • Surveillance & SAR
  • 3D Modeling
  • Delivery Service
  • Others

Drone-Powered Business Solutions End-Use Industry Outlook (Revenue, USD Million; 2014-2025)

  • Real Estate & Construction
  • Media & Entertainment
  • Energy
    • Oil & Gas
    • Utility & Power
    • Renewable Energy
  • Agriculture
  • Security & Law Enforcement
  • Logistics & Transportation
  • Others

Drone-Powered Business Solutions Regional Outlook (Revenue, USD Million; 2014-2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Poland
  • Asia Pacific
    • China
    • Japan
  • MEA
    • South Africa
  • Latin America

    • Brazil
    • Mexico

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.

Industrial Wireless Sensor Network (IWSN) Market Is Estimated to be Valued $8,669.8 Million By 2025

The global industrial wireless sensor network market size is expected to reach USD 8,669.8 million by 2025, growing at a CAGR of 15.2% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The benefits offered by IWSN over wired networks, such as mobility, self-discovery capability, compact size, cost-effectiveness, and reduced complexity, are anticipated to play a significant role in increasing global demand.

IWSN is an advanced method of communication between two or more remotely located devices without interruption. The systems comprise nodes that act as access points to form a better communication system. In IWSN, sensor nodes are connected through various wireless technologies such as ZigBee, Wi-Fi, Bluetooth, and WirelessHART. Increasing adoption of wireless communication, need for strong connectivity across remote locations, and demand for network infrastructure are expected to fuel market growth.

Recent advancements in the fields of Internet of Things (IoT) and Artificial Intelligence (AI) have further increased demand for wireless networks and strong connectivity. Accelerated adoption of these technologies by the oil and gas, manufacturing, utilities, and automotive verticals is expected to boost the growth of the industrial wireless sensor network market. In addition, key players in the market are investing heavily in R&D to explore the scope of the technology for innovations, integration, and new product developments. For instance, ABB Ltd., which has 7 research centers and more than 8,000 technologists, invested USD 1.5 billion in R&D in 2016.

The hardware segment is anticipated to witness substantial growth as they detect activities and send information from one device to another through various communication technologies. Increasing miniaturization of electronic components and advancements in communication technology make it possible to develop a seamless network. The software handles device-specific tasks, such as initialization of hardware, memory management, and process management, as well as scheduling. The software segment generated the highest revenue in 2016 and the trend is expected to continue over the forecast period.

Global players in the IWSN market are collaborating with new entrants to provide improved products and systems with enhanced performance. In January 2017, Honeywell Process Solutions collaborated with AEREON to develop solutions that help the industrial sector improve operational efficiency, safety, and reliability.

U.S. industrial wireless sensor network (IWSN) market

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Further key findings from the study suggest:

  • The software segment is anticipated to emerge as the fastest-growing segment over the forecast period owing to the increasing demand for advanced process & control monitoring, data collection, and data processing software.
  • The gas sensors segment is anticipated to emerge as the fastest growing segment due to rapidly increasing focus on workplace safety in industries such as oil & gas, pharmaceuticals, chemical & petroleum, building automation, and food & beverages.
  • The Asia Pacific regional market is expected to grow at the highest CAGR from 2019 to 2025 owing to the significant growth in manufacturing sector in developing countries such as India and China.
  • The cellular network segment is expected to witness fastest growth over the forecast period due to the rapidly growing demand for Low Power Wide Area Network (LPWAN) technologies-based Internet of Things (IoT) devices using LTE-M and Narrowband-IoT (NB-IoT) networks.
  • Key players operating in the IWSN market include ABB Limited, Analog Devices, Inc.; Honeywell Process Solutions, Lantronix, Inc.; NXP Semiconductors, Schneider Electric, Siemens AG, STMicroelectronics N.V., Texas Instruments Inc.; and Yokogawa Electric Corporation, among others.

Grand View Research has segmented the global Industrial Wireless Sensor Network market based on component, type, technology, application, end use, and region:

Industrial Wireless Sensor Network (IWSN) Component Outlook (Revenue, USD Million, 2014 – 2025)

  • Hardware
  • Software
  • Service

Industrial Wireless Sensor Network (IWSN) Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Temperature Sensors
  • Pressure Sensors
  • Level Sensors
  • Flow Sensors
  • Humidity Sensors
  • Motion & Position Sensors
  • Gas Sensors
  • Light Sensors
  • Chemical Sensors
  • Others

Industrial Wireless Sensor Network (IWSN) Technology Outlook (Revenue, USD Million, 2014 – 2025)

  • Bluetooth
  • ZigBee
  • Wi-Fi
  • Near Field Communication (NFC)
  • Cellular Network
  • WirelessHART
  • ISA 100.11a

Industrial Wireless Sensor Network (IWSN) Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Machine Monitoring
  • Process Monitoring
  • Asset Tracking
  • Safety & Surveillance

Industrial Wireless Sensor Network (IWSN) End Use Outlook (Revenue, USD Million, 2014 – 2025)

  • Automotive
  • Food & Beverages
  • Manufacturing
  • Mining
  • Oil & Gas
  • Utilities
  • Others

Industrial Wireless Sensor Network (IWSN) Regional Outlook (Revenue, USD Million, 2014 – 2025)

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

Asia Pacific Fuel Dispenser Market Exhibit Growth Of $1.39 Billion By 2024

The Asia Pacific fuel dispenser market is projected to reach USD 1.39 billion by 2024, according to a new report by Grand View Research, Inc. The demand for fuel dispenser in Asia Pacific is expected to grow significantly over the forecast period, primarily driven by the increasing demand for vehicles in the region. The developing economies in the region, including China and India, accounted for over 75% of the total market in 2015. The growing demand in China owing to the growing consumer spending capacity as well as robust automotive sales is expected to have a positive impact on the industry growth.

The constant movement of the rural population to urban areas in India is expected to create a need for infrastructural development. The growing disposable incomes of the consumers is expected to drive the demand for vehicles in the country. As a result, the demand for fueling stations and dispensing systems is expected to grow over the next eight years.

The positive gross domestic product (GDP) and steady growth in the consumer standards of living is expected to augment the demand for oil & gas and related products, which in turn is expected to aid the industry growth in Asia Pacific. The threat of new entrants is low owing to the presence of established manufacturers in the region.

High capital requirements, coupled with the need for advanced technologies, may restrict the entry of new industry players. Furthermore, the dispensing systems are utilized to distribute fuel to the general population. It is highly flammable and hazardous to the human health and the environment, owing to which several associations have set standards for the manufacturing of dispenser systems.

FUEL_DISPENSER_TOPOLOGICAL_wide.jpgac83e225-b13f-48d0-b4f0-fa1737755846Original.jpg

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Further key findings from the report suggest:

  • Submersible systems accounted for over 80% of the total market in 2015. Low installation and maintenance costs of this technology are expected to drive the demand in the region. Increasing penetration of the technology in China and India is expected to aid industry growth over the forecast period.
  • The demand for dispensing systems for CNG vehicles is expected to witness substantial growth, at a CAGR of over 4% from 2016 to 2024 owing to its affordable price and superior mileage as compared to petrol powered vehicles. Furthermore, growing government support in promoting CNG owing to its environmental benefits is expected to drive growth over the projected period.
  • China is the largest manufacturer and consumer of fuel dispenser in the region with over 45% of the total market share in 2015. Growing demand for petrol and CNG dispensing systems is expected to drive the industry over the next eight years. Rapid automotive industry growth is also expected to aid industry demand in the country.
  • Key players include Gilbarco Inc., Wayne Fuelling Systems LLC, Tokheim, and Tatsuno Corporation. Wayne Fuelling Systems LLC is being acquired by Dover Corporation who owns Tokheim. This acquisition is expected to give a competitive edge to Dover over the forecast period.

Grand View Research has segmented the Asia Pacific fuel dispenser market on the basis of technology, application and region:

Technology Outlook (Revenue, USD Million; 2013 – 2024)

  • Submersible
  • Suction

Application Outlook (Revenue, USD Million; 2013 – 2024)

  • Petrol/Gasoline
  • Diesel
  • Compressed Natural Gas (CNG)
  • Others

Regional Outlook (Revenue, USD Million; 2013- 2024)

  • China
  • India
  • Japan
  • Rest of Asia Pacific

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.

Proximity – Displacement Sensors Market To Generate Revenue Of $6 Billion By 2022

The global market for proximity and displacement sensors is expected to reach over USD 6 billion by 2022, growing at an estimated CAGR of around 9% from 2015 to 2022, according to a new study by Grand View Research, Inc. Technical advancement leading to miniaturization of proximity and displacement sensors is one of the key trends driving the global market towards growth.

Moreover, factory process automation, growing awareness towards energy efficiency and rising demand for elevators and escalators are some of the major factors driving the growth of the market. In addition, booming market for smart-phones, tablets and other gadgets is propelling the demand for the sensors globally. Considering all the above mentioned factors, the global market is anticipated to reach over USD 6 billion.

However, the implementation of integral automation system attracts a huge amount of initial investment, leading to rise in the overall cost to customers. Thus, high cost of the sensors is primarily challenging the growth of the global market.

Global-Proximity-And-Displacement-Sensors-Market

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Further key findings from the study suggest:

  • Photoelectric sensors segment accounted was valued for around 1.2 billion in 2014. Its wide application in variety of industries is mainly contributing to the largest market share of the segment amongst others.
  • Ultrasonic sensors segment is anticipated to show fastest growth rate during the forecast period. Commercial availability of technically advanced products and thereby rising adoption is one of the major factors expected to boost the demand for ultrasonic sensors during the forecast period. The segment is expected to reach over USD 290 million with CAGR of around 21% during the forecast period.
  • Parking sensors market accounted for the largest application segment market in 2014 owing to ability of installation of these sensors through OEM and aftermarket services. Thus, inbuilt sensors coupled with aftermarket installations result in largest revenue generation for the segment.
  • Moreover, installation of parking sensors is costly through OEM owing to requirement of extra precautions for safety. As a result, high cost adds up to the overall revenue of generated by the parking sensors making it highest revenue generating segment.
  • Booming construction industry is resulting in increased elevators and escalators which primarily use proximity and displacement sensors. Thus, the segment is anticipated to show significant growth during the forecast period among other end use segments.
  • North America dominated the global market in 2014 and was followed by Europe in 2014. Highly developed automotive, construction and food and beverage industry is one of the major factors driving the growth of the market in North America Europe.
  • Emerging economies of Latin America such as Mexico, Argentina and Brazil are anticipated to show fastest growth rate in terms of adoption of proximity and displacement sensors during the forecast period.
  • Key driving factors for the growth of Latin American market include increasing disposable income resulting in rising purchase of electronic gadgets, and automobiles. Moreover, growth in the foreign investment in order to reduce the manufacturing cost is resulting in rapidly improving manufacturing infrastructure. Resultant industry automation is driving the growth of the sensors market in this region.
  • Key players of this market include Eaton Corporation, OMRON Corporation, Honeywell International Inc., Panasonic Corporation, Pepperl+Fuchs GmbH, Standex Electronics GmbH, and Sharp Corporation

Grand View Research has segmented the Proximity and Displacement Sensors market on the basis of materials, application, end use, and region:

Proximity and Displacement Sensors, By Material

  • Inductive sensors
  • Photoelectric sensors
  • Capacitive sensors
  • Ultrasonic sensors
  • Magnetic Sensors
  • LVDT Sensors

Proximity and Displacement Sensors, By Application

  • Parking sensor systems
  • Ground proximity warning system
  • Vibration monitoring and measurement
  • Anti-aircraft warfare
  • Roller coasters
  • Conveyer System
  • Mobile devices
  • Assembly line testing
  • Others

Proximity and Displacement Sensors, by End Use

  • Automotive industry
  • Pharmaceuticals industry
  • Food and beverage industry
  • Pulp and paper industry
  • Elevators and escalators industry
  • Manufacturing industry
  • Metals and mining industry

 Proximity and Displacement Sensors, By Region

  • North America
    • Proximity and Displacement Sensors, By Type
    • Proximity and Displacement Sensors, By Application
    • Proximity and Displacement Sensors, By End Use
  • Europe
    • Proximity and Displacement Sensors, By Type
    • Proximity and Displacement Sensors, By Application
    • Proximity and Displacement Sensors, By End Use
  • Asia Pacific
    • Proximity and Displacement Sensors, By Type
    • Proximity and Displacement Sensors, By Application
    • Proximity and Displacement Sensors, By End Use
  • Rest of the World (RoW)

    • Proximity and Displacement Sensors, By Type
    • Proximity and Displacement Sensors, By Application
    • Proximity and Displacement Sensors, By End Use

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.

Human Resource Management Market Expected To Collect $30.01 Million By 2025

The global human resource management market is anticipated to reach USD 30.01 billion by 2025, registering a CAGR of 11.0% from 2019 to 2025, according to a new report by Grand View Research, Inc. Increasing need for managing the widespread workforce and growing demand for replacing the legacy systems with improved human capital management platforms is anticipated to fuel the growth.

Technological proliferation in big data analytics, machine learning, Artificial Intelligence (AI), and Internet of Things (IoT) is expected to positively impact growth of the human resource management (HRM) market. Various HRM 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 the transparency across the departments in organizations and provide flexibility to the managers to access data anytime and from anywhere across the globe.

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

Post the implementation of HRM software, organizations require support and maintenance services from their vendors. This is expected to increase the demand for the support & maintenance services. The segment is estimated to expand at a CAGR of over 14.0% from 2019 to 2025.

Retail segment is expected to expand at the highest CAGR of above 13.6% from 2019 to 2025. The rapid growth of the retail industry has resulted in the large-scale hiring as well as employee retention at all levels of the industry by ensuring better job roles, career paths, and benefits. In an attempt to streamline these functions, a large number of organizations operating in the retail industry opt for HRM solutions.

U.S. Human Resource Management (HRM) Market

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www.grandviewresearch.com/industry-analysis/human-resource-management-hrm-market

Further key findings from the report suggest:

  • Talent management software segment is anticipated to register a CAGR of above 13.5% over the forecast period, owing to features such as attracting, recruiting, and retaining the human assets of their organization
  • Demand for hosted deployment segment is expected to witness significant growth over the forecast period owing to the ease of integration with other systems, ease of use, and reduced costs. The segment is anticipated to reach USD 13.88 billion by 2025
  • Large enterprises led the market in 2018 and is expected to maintain its dominance over the next six years. This dominance can be attributed to focus of organizations on increasing productivity and efficiency of labors with HRM solutions
  • Asia Pacific HR management market is anticipated to expand at a significant CAGR and reach USD 6.54 billion by 2025, owing to the rapid industrialization and digitization initiatives taken by the regional governments
  • Key HRM market players include Accenture PLC; Automatic Data Processing (ADP), Inc.; Cezanne HR Ltd.; Ceridian HCM, Inc.; IBM Corporation; Kronos Incorporated; Mercer LLC; NetSuite, Inc.; Oracle Corporation;PricewaterhouseCoopers (PwC); SAP SE; Talentsoft; Ultimate Software; and Workday, Inc.; among others

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

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

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

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

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

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

  • Hosted
  • On-premise

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

  • Large Enterprise
  • Small & Medium Enterprise

Human Resource Management (HRM) End Use Outlook (Revenue, USD Million, 2014 – 2025)

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

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

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

Off-Highway Vehicle Lighting Market To Generate Revenue Of $1.31 Billion By 2025

The global off-highway vehicle lighting market size is expected to reach USD 1.31 billion by 2025 expanding at a 7.0% CAGR, according to a study conducted by Grand View Research, Inc. Increased demand for construction and mining equipment and stringent lighting and safety regulations are expected to drive the market. A rise in sales of Class 7 and 8 trucks along with increased awareness regarding the workers’ safety has also contributed to the demand for off-highway vehicle lighting.

Governments across the world are drafting stringent regulations regarding the use of energy-efficient lights in vehicles and for commercial and residential purposes. Regulatory authorities have actively encouraged the ban on the use of High-Intensity Discharge (HID) lamps in many developed countries. For instance, the National Highway Traffic Safety Administration (NHTSA) has prohibited the use of amber stop lamps in tail lights. Similarly, the Canadian government has defined the minimum number of lights required by different vehicle types, such as buses, trucks, and heavy equipment.

Hence, such regulations are expected to bolster the demand for vehicle lighting, especially Light-Emitting Diode (LED) lights. In terms of industry share, Asia Pacific is expected to be the dominant market over the forecast period owing to increasing investments in construction and mining activities across the region. Governments in this region are investing in the development of public, as well as private infrastructure. Such initiatives are expected to result in an increased demand for construction equipment, such as excavators, loaders, and dump trucks; thereby, supporting the vehicle lighting market growth.

In 2017, China accounted for a major share of the Asia Pacific regional market. North America is expected to register a considerable CAGR of 7.8% over the forecast period on account of the presence of major off-highway vehicle lighting manufacturers in this region. The Canadian government has mandated the usage of certain light fixtures, such as light bar, side marker lamps, and high raised lamps, to ensure workplace safety and avoid accidents. This is also likely to contribute to region’s growth in the years to come.

U.S. off-highway vehicle lighting market

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www.grandviewresearch.com/industry-analysis/off-highway-vehicle-lighting-market

Further key findings from the study suggest:

  • The halogen product segment is expected lead the market by reaching USD 727.8 million by 2025
  • This growth is attributed to a significant rise in the adoption of halogen lights across most of the vehicles
  • The headlight application segment led the market in 2017. Introduction of advanced technologies, such as night vision and laser lights are responsible for the segment growth
  • Asia Pacific is expected to be the largest regional market over the forecast period owing to increased investments in the construction activities by government and private firms
  • Prominent companies in the global off-highway vehicle lighting market are Gogoro, Inc.; HELLA GmbH & Co. KGaA; Magneti Marelli S.p.A.; Grote Industries; and Oracle Lighting

Grand View Research has segmented the global off-highway vehicle lighting market on the basis of product, application, end use, vehicle type, and region:

Off-highway Vehicle Lighting Product Type Outlook (Revenue, USD Million, 2014 – 2025)

  • LED
  • Halogen
  • HID
  • Incandescent

Off-highway Vehicle Lighting Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Headlight
  • Tail Light
  • Work Light
  • Other

Off-highway Vehicle Lighting End-use Outlook (Revenue, USD Million, 2014 – 2025)

  • Construction & Mining
  • Agriculture/Farming/Forestry

Off-highway Vehicle Lighting Vehicle Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Excavator
  • Loader
  • Crane
  • Dump/Concrete Mixer Truck
  • Tractor
  • Other Vehicles

Off-highway Vehicle Lighting Regional Outlook (Revenue, USD Million, 2014 – 2025)

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

Parking Management Market Is Estimated to be Valued $6.9 Billion By 2025

The global parking management market size is expected to reach USD 6,899.4 million by 2025, registering a CAGR of 9.4% from 2019 to 2025, according to a new report by Grand View Research, Inc. The increasing public sector funding and favorable government initiatives are expected to strengthen the market growth. The demand for carpark management solutions is expected to be high in the commercial and government application segments owing to various features such as tow management, ticketing, payment processing, and citation tracking offered by these solutions through a single platform.

Furthermore, image recognition, machine learning, tracking, and speed monitoring capabilities offered by these solutions are expected to enhance a consumer’s experience. The growing automation of services due to the adoption of analytics and big data and the rising demand for improved mobility among service consultants are expected to propel the growth of the market. The market is expected to gain traction owing to the development of systems with sophisticated features such as auto-payment options and voice guidance (enabled through mobile phone apps).

An increasing number of vehicles is negatively influencing the availability of carparks and is consequently fueling the demand for implementing intelligent solutions for managing carparks across the globe. The need for the development of carpark facilities that do not necessitate the use of gate arms and have a minimal negative impact on the environment is further expected to drive the growth of the market. The growing smartphone penetration is expected to benefit the market as carpark management applications use features such as Near-Field Communication (NFC), camera, and GPS to identify vacant spots.

U.S. parking management Market

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Further key findings from the study suggest:

  • The system integration & deployment segment is anticipated to register the highest CAGR of 10.7% from 2019 to 2025. This can be attributed to the increasing focus of facility providers on the use of new technologies
  • The parking reservation management segment is expected to register the highest CAGR of 11.1% from 2019 to 2025 as these solutions help reduce the time required to locate vacant carpark spaces
  • The on-street segment is expected to emerge as the fastest-growing segment over the forecast period owing to the increasing favorable government initiatives
  • The government application segment is expected to continue dominating the market over the forecast period due to increasing government investments for developing advanced carpark systems
  • North America dominated the market in 2018 owing to the growing focus of automobile manufacturers in the U.S. and Canada on developing systems for efficiently managing carpark spaces
  • The key players in the parking management market include 3M, Amano Corporation, Cubic Corporation, IBM Corporation, Kapsch TrafficCom, Siemens, SKIDATA AG, Swarco, T2 Systems, and Xerox Corporation.

Grand View Research has segmented the global parking management market on the basis of solution, service, parking site, application, and region:

Parking Management Solution Outlook (Revenue, USD Million, 2014 – 2025)

  • Access Control
  • Security & Surveillance
  • Revenue Management
  • Parking Reservation Management
  • Valet Parking Management
  • Other

Parking Management Service Outlook (Revenue, USD Million, 2014 – 2025)

  • Consulting
  • System Integration & Deployment
  • Support & Maintenance

Parking Management Parking Site Outlook (Revenue, USD Million, 2014 – 2025)

  • On-street
  • Off-street
    • Garage
    • Lot

Parking Management Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Transport Transit
  • Commercial
  • Government

Parking Management Regional Outlook (Revenue, USD Million, 2014 – 2025)

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