The global variable frequency drive market is expected to grow at a compound annual growth rate of 4.65% over the forecast period to reach a market size of US$24.410 billion in 2026 from US$17.758 billion in 2019. In segmentation of variable frequency drive market by type, the market is segmented into AC, DC, and servo drives, among them AC drives are projected to have the largest market share in the forecast period as they can be used in a wide range of applications because of its adjustable ch Read more...
Global Solar-powered pumps market was valued at US$ 1,284.652 million in 2019, and is expected to grow at a good CAGR over the forecast period. Solar-powered pumps are a clean, simple, and energy-efficient alternative to conventional electric and fuel-driven pump sets. Solar water pumps are commonly seen in residential and commercial uses as well as for irrigation purposes in the agricultural sector. The use of solar-powered pumps eliminates the cost of energy as they use the energy Read more...
Global distillation systems market is projected to witness a CAGR of 4.53% to reach US$6.561 billion in 2024 from US$5.029 billion in 2018. Distillation is a method for separating mixtures based on differences in the conditions required to change the phase of components in the mixture. Distillation is widely used for water treatment purposes. Growi Read more...
The motor management market is estimated to witness a CAGR of 4.40% to reach US$5.015 billion in 2024 from US$3.872 billion in 2018. Motor management is concerned with the electrical, mechanical, and maintenance solutions for the electrical equipment installed in a facility. Industries consume a significant proportion of electricity, and there is a Read more...
Global Machine Learning Processor market is projected to grow at a CAGR of 27.16% during the forecast period, reaching a total market size of US$118.835 billion in 2025 from US$28.105 billion in 2019. The global machine learning processor market is rising due to the growing popularity of artificial intelligence and the trend towards big data. Increasing IoT devices is further growing the demand for the machine learning processor, thereby driving the market growth. The growing number of A Read more...
Global Deep Learning Processor market is projected to grow at a CAGR of 42.49% during the forecast period, reaching a total market size of US$69.986 billion in 2025 from US$8.363 billion in 2019. Deep learning is a subset of machine learning and machine learning is a subset of artificial intelligence. The market for deep learning processor is growing owing to factors such as the growing volume of big data along with the increasing popularity of artificial intelligence and machi Read more...
North America advanced process control market was valued at US$332.813 million in 2017 and is projected to expand at a CAGR of 9.53% over the forecast period to reach US$574.789 million by 2023. Early adoption of automation across end-use industries in countries like U.S. and Canada makes this region a mature market for advanced process control solutions. High investment in R&D coupled with strict environmental regulations is escalating the demand for APC systems for sustainable production p Read more...
South America advanced process control market is projected to witness the growth at a CAGR of 10.54% during the forecast period to reach a total market size of US$59.547 million by 2023, increasing from US$32.470 million in 2017. Rapid industrialization, especially in emerging economies like Brazil and Argentina, and increasing adoption of factory automation drive the regional market growth. In addition, increasing number of regulation for workplace safety and energy conservation further augment Read more...
The Europe advanced process control market was valued at US$223.228 million in 2017 and is projected to expand at a CAGR of 8.71% over the forecast period to reach US$368.454 million by 2023. The advanced control process allows the organizations to function at optimal level, enabling them to gain from significant cost savings while simultaneously improving the revenue generation capability. The improvement in the economic environment in the region is likely to stimulate the deployment solutions Read more...
The Asia Pacific advanced process control market is projected to foresee a growth at a CAGR of 13.52% during the forecast period from US$212.676 million in 2017 to US$455.115 million in 2023. India and China from the Asia Pacific region have the major market share of advanced process controls. This is due to the rise in infrastructure development and a high demand for the energy-efficient production systems. Development and continuous improvement in APCs are focused towards improving the perform Read more...
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