Smart Grid Innovation: Powering the Future of Energy Storage and Efficiency
As the energy crisis and rising prices escalate, technological innovation trends in the energy storage sector start to gravitate towards smart grid technology. This assists in running electrical networks to a more efficient mode of operation where devices can control demand, protect distribution networks, save energy, and, thereby, costs. The inflexible traditional energy grids provide access to renewable technologies, allowing only one-way power flow where consumers receive electricity from centralized sources.
The biggest distribution of clean, renewable energy at the edge of the grid is the smart grid, several small-generation systems are operated by individual consumers or businesses. It requires sophisticated computing to manage and optimize intermittent loads and a “total system” approach for balancing all these fluctuating energy sources, consumption levels, and newly added renewable technologies. The International Energy Agency estimates that approximately $600 billion will have to be invested per year up until 2030 in electricity grids for the global energy sector to reach net-zero carbon emissions by 2050. This demands subsequent collaboration between public and private organizations in pursuit of the same energy goals.
Dive Deeper into Smart Grid Technology
Discover the full scope of smart grid advancements. Our comprehensive Smart Grid Market Report provides detailed insights into market trends, key players, and growth opportunities.
- ✅ Market Size and Growth Projections
- ✅ Competitive Landscape Analysis
- ✅ Emerging Technologies and Regional Trends
Top 10 smart grid companies:
- Siemens AG
- IBM
- Cisco
- ABB
- Itron, Inc.
- Enphase Energy
- S&C Electric Company
- Stem
- Uplight
- Eaton
Let’s discuss each in detail.
Siemens provides the energy intelligence platform for a more adaptable and sustainable grid power. Smart grids leverage digital, IoT solutions to adapt and intelligently respond to changes in the grid. By adding energy intelligence to Siemens’ Xcelerator for Grids portfolio, grid operators can realize more reliable, cost-effective, flexible, safe, and sustainable operations. In the energy challenge in world reaching net zero, the company provides a digital portfolio with hardware solutions that connect grids and markets, offering a well-grounded energy/power supply.
In August 2024, the company announced the launch of its two latest Gridscale X software products. The two products are targeted towards enabling Transmission System Operators (TSOs) to operate grids closer to their physical limits and manage the complexity associated with the energy transition. These products are an imperative part of Siemens Xcelerator that will offer the customers easy, fast, and scaled transformations into digital transformation, thus paving the way toward flexible and autonomous grid management.
Explore the Digital Transformation Market
Smart grids are at the forefront of digital transformation in energy. Our detailed report on the Digital Transformation Market offers insights into technology trends, key players, and growth forecasts.
IBM provides pioneered technology on a global scale including smart grid technology. It offers Maximo Applications Suite, support for smart grid adoption and development, for a foreign-tethered corporation that has offices in over 175 countries. IBM Maximo Application Suite, an embedded artificial intelligence solution, has been built to optimize performance, streamline utility operations, and simplify the smart grid transition. Among its advantages for utilities in making decisions are the CMMS, EAM, and APM abilities with advanced analytics for smarter, data-driven decisions. This comprehensive integrated platform enables energy and utility organizations to make informed decisions using sustainable choices.
Cisco provides smart grid solutions that can help improve the modernization, security, and reliability of the utility. Addressing the proposal of changing environmental, consumer, and regulatory conditions, the company offers the best-suited solutions under Distribution Automation by linking data communication infrastructure to monitor and control the electrical distribution grid components from remote locations. Thus, allowing operators in real-time distribution and consumption of power data collection and information, providing predictive insight and recommendations for utilities, suppliers, and customers.
The company’s work in utilities reduces risk through security, visibility, and automation, improves efficiency through modernized grids, strengthens resiliency, increases productivity, and enhances accessibility and mobility.
This Swedish-Swiss multinational company has now embarked on making smart grid projects to enhance accountability in power distribution, meter accuracy, and conservation voltage for energy-efficient reading. In April 2024, ABB announced a minority investment in GridBeyond, a leading technology provider offering energy management solutions using artificial intelligence and data science. The investment, made through ABB Ventures, will help customers optimize distributed energy resources and industrial loads, thereby contributing to ABB’s sustainability advisory services portfolio.
Similarly, in August 2024, ABB launched ADAM which is a management solution for cloud-enabled power grid distribution in Vietnam. ADAM optimizes the supervision and administration of power distribution networks, integrating it with the SSC600 platform. Thus, integration is relevant to that since such improvements will enhance stability and efficiency performance in terms of grid operations in a country with such aspirations- those aspirations being the modernization of energy systems and the modernization of infrastructural energy.
Analyze the Power Distribution Market
Smart grids enhance power distribution efficiency. Our in-depth report on the Power Distribution Market provides comprehensive data on market dynamics, technological advancements, and key opportunities.
Itron is delivering smart grid solutions for utilities and cities that can make their energy and water more efficient. The solution is designed to be implemented in a variety of operating conditions, addressing various business priorities and investment goals, thus providing customers with visibility they have never experienced before in all about measurement, control, network management, system operations, data management, and analysis.
Itron announced the launch of Grid Edge Essentials in October 2024. It is a cost-efficient pre-integrated solution powered by distributed intelligence and will offer utilities a more effective and quicker energy transition by solving their major issues dealing with the grid edge. The step will facilitate a smooth entry into new technologies by allowing visibility into the grid edge for distribution and improving consumer engagement to be improved.
Enphase Energy planned to ramp up its grid services program to New Hampshire, North Carolina, and California, making it a leader in supplying microinverter-based solar and battery systems in October 2024. This is a kind of program that pumps energy from home batteries into the community during peak demand periods to replace expensive and polluting power plants. Incentives for homeowners include reductions in utility costs, such as discounts on Enphase Energy Systems with IQ Batteries or continuous payments.
Discover the Solar Energy Market
Smart grids integrate solar energy solutions for sustainability. Our Solar Energy Market Report offers insights into market trends, key players, and growth opportunities.
S&C Electric Company is the major player in the business of smart grid and the manufacturing of products that can help in controlling or protecting power flowing through energy lines. Some of these products offered include Intelligent Electronic Devices (IEDs), Reclosers, Sectionalizers, Distribution Automation Systems, and Grid Modernization Solutions. IEDs give faster response time and more reliable services, while the two devices above isolate faults on the grid and thus reduce service interruptions. Moreover, Distribution Automation Systems allow utilities to take actions on those grid facilities remotely, improving the production efficiency further along with reduced maintenance costs.
Stem is the world’s foremost AI-driven energy storage solution, optimizing and maximizing renewable energy value by coupling newly integrated technologies with Athena®. It helped enterprises set up a smart, flexible clean energy infrastructure, so that they can achieve resilience, sustainability, cost savings, environmental footprint, and innovation.
Uplight is a technology partner for energy providers transitioning to a decarbonized future, announced its acquisition of AutoGrid, a Virtual Power Plant and Distributed Energy Resource Management System provider, in December 2023. Uplight will then be able to develop and manage flexible capacity in energy grids and do so in three areas: electrification, digitization, and decarbonization.
Eaton is a company in power management, which produces GridAdvisor optical medium-voltage and current sensors to measure and provide site intelligence in real time into electrical distribution grid systems, substations, and underground locations as well as electrical, hydraulic, and aerospace domains. The latest invention brought to the market by Eaton in September 2024 is the AbleEdge system, which contributes to the smart revolution of smart breakers and home energy management, upgrading the smart grid technology.
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Sample Preparation Market size worth US$7,760.027 million by 2030
Press ReleasesThe sample preparation market is expected to grow at a CAGR of 4.54%, reaching a market size of US$7,760.027 million in 2030 from US$6,792.415 million in 2025.
A process for converting chemical and biological samples into a form that can be directly inserted into an instrument for analysis is termed sample preparation. The sample preparation market includes products that are used to prepare biological and chemical samples to analyze raw materials to detect undesirable elements.
Growth Drivers of the Sample Preparation Market
One of the major growth potential factors of the global sample preparation market is the importance and application of sample preparation in pharmaceutical research. Sample preparation is important for every type of research and analysis associated with the chemical and biological sector, where the process and analysis of proper sample preparation support these. The large investments of major companies and governments in promoting the research and analysis sector of the chemical, biological, and food industries are boosting the market value of sample preparation products in the global market.
Miniaturization, automation, high-throughput performance, the potential of new sample preparation instruments to integrate with existing analytical instruments, and a reduction in solvent volume and time are also driving the market value of sample preparation products in the global market. The efficiency demonstrated by sample analysis in providing accurate results in chemical and biological research is also driving the sample preparation market growth.
Segmentation of the Sample Preparation Market
Based on product, the sample preparation market is divided into instruments, consumables, sample preparation kits, and other products. The instruments segment consists of centrifuges, homogenizers, and similar devices for the processing of samples. Consumables include filters, tubes, and reagents, among others that prepare sample preparation workflows. Sample preparation kits are pre-packaged solutions that come ready to apply to a particular task or application, including RNA/DNA extraction kit and protein purification. The other products relate to tools and accessories that assist the sample preparation process. These together represent the wide and varied requirements for research, diagnostic, and industrial laboratories.
The sample preparation market is categorized based on application into proteomics, genomics, epigenomics, and others. Proteomics looks at the study of proteins, including their structures and functions. Genomics is essentially a study of an organism’s genome-an analysis involving DNA sequencing and gene mapping. Epigenomics focuses on chemical modifications to genetic material that result in the regulation of gene expression without changing the DNA sequence. Meanwhile, others are a catch-all for other types of fields, like metabolomics and lipidomics, as well as all the niches that use sample preparation.
Based on end-users, the sample preparation market is bifurcated into pharmaceuticals, biotechnology, laboratory diagnostics, and others. The drug discovery, development, and quality control processes mainly use sample preparation techniques in the pharmaceutical sector. The biotechnology industry applies sample preparation in research, genetic engineering, and bioprocessing. Laboratory diagnostics heavily depend on sample preparation for clinical and research analysis and testing. The other category is comprised of academic and research institutes, environmental testing laboratories, and forensic laboratories, all of which significantly apply sample preparation in different areas.
Geographically, North America is expected to hold a significant share of the sample preparation market due to its advanced healthcare infrastructure, high research and development activities, presence in the biotechnology and pharmaceutical industries, strict regulatory standards, increasing focus on diagnostic testing and personalized medicine, collaborations, biobanking initiatives, technological advancements, increased funding for life sciences research, and market competitiveness.
Key Players in the Sample Preparation Market
As a part of the report, the major players operating in the global sample preparation market that have been covered are Agilent Technologies, Danaher Corporation, Illumina, Merck Millipore (Merck KGaA), Danaher Corporation, Roche, Perkinelmer, Inc., and Norgen Biotek Corporation, Qiagen N.V.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/sample-preparation-market
This analytics report segments the global sample preparation market on the following basis:
Top 10 Smart Grid Companies Driving Innovation and Efficiency
Thought ArticlesSmart Grid Innovation: Powering the Future of Energy Storage and Efficiency
As the energy crisis and rising prices escalate, technological innovation trends in the energy storage sector start to gravitate towards smart grid technology. This assists in running electrical networks to a more efficient mode of operation where devices can control demand, protect distribution networks, save energy, and, thereby, costs. The inflexible traditional energy grids provide access to renewable technologies, allowing only one-way power flow where consumers receive electricity from centralized sources.
The biggest distribution of clean, renewable energy at the edge of the grid is the smart grid, several small-generation systems are operated by individual consumers or businesses. It requires sophisticated computing to manage and optimize intermittent loads and a “total system” approach for balancing all these fluctuating energy sources, consumption levels, and newly added renewable technologies. The International Energy Agency estimates that approximately $600 billion will have to be invested per year up until 2030 in electricity grids for the global energy sector to reach net-zero carbon emissions by 2050. This demands subsequent collaboration between public and private organizations in pursuit of the same energy goals.
Dive Deeper into Smart Grid Technology
Discover the full scope of smart grid advancements. Our comprehensive Smart Grid Market Report provides detailed insights into market trends, key players, and growth opportunities.
Top 10 smart grid companies:
Let’s discuss each in detail.
Siemens provides the energy intelligence platform for a more adaptable and sustainable grid power. Smart grids leverage digital, IoT solutions to adapt and intelligently respond to changes in the grid. By adding energy intelligence to Siemens’ Xcelerator for Grids portfolio, grid operators can realize more reliable, cost-effective, flexible, safe, and sustainable operations. In the energy challenge in world reaching net zero, the company provides a digital portfolio with hardware solutions that connect grids and markets, offering a well-grounded energy/power supply.
In August 2024, the company announced the launch of its two latest Gridscale X software products. The two products are targeted towards enabling Transmission System Operators (TSOs) to operate grids closer to their physical limits and manage the complexity associated with the energy transition. These products are an imperative part of Siemens Xcelerator that will offer the customers easy, fast, and scaled transformations into digital transformation, thus paving the way toward flexible and autonomous grid management.
Explore the Digital Transformation Market
Smart grids are at the forefront of digital transformation in energy. Our detailed report on the Digital Transformation Market offers insights into technology trends, key players, and growth forecasts.
IBM provides pioneered technology on a global scale including smart grid technology. It offers Maximo Applications Suite, support for smart grid adoption and development, for a foreign-tethered corporation that has offices in over 175 countries. IBM Maximo Application Suite, an embedded artificial intelligence solution, has been built to optimize performance, streamline utility operations, and simplify the smart grid transition. Among its advantages for utilities in making decisions are the CMMS, EAM, and APM abilities with advanced analytics for smarter, data-driven decisions. This comprehensive integrated platform enables energy and utility organizations to make informed decisions using sustainable choices.
Cisco provides smart grid solutions that can help improve the modernization, security, and reliability of the utility. Addressing the proposal of changing environmental, consumer, and regulatory conditions, the company offers the best-suited solutions under Distribution Automation by linking data communication infrastructure to monitor and control the electrical distribution grid components from remote locations. Thus, allowing operators in real-time distribution and consumption of power data collection and information, providing predictive insight and recommendations for utilities, suppliers, and customers.
The company’s work in utilities reduces risk through security, visibility, and automation, improves efficiency through modernized grids, strengthens resiliency, increases productivity, and enhances accessibility and mobility.
This Swedish-Swiss multinational company has now embarked on making smart grid projects to enhance accountability in power distribution, meter accuracy, and conservation voltage for energy-efficient reading. In April 2024, ABB announced a minority investment in GridBeyond, a leading technology provider offering energy management solutions using artificial intelligence and data science. The investment, made through ABB Ventures, will help customers optimize distributed energy resources and industrial loads, thereby contributing to ABB’s sustainability advisory services portfolio.
Similarly, in August 2024, ABB launched ADAM which is a management solution for cloud-enabled power grid distribution in Vietnam. ADAM optimizes the supervision and administration of power distribution networks, integrating it with the SSC600 platform. Thus, integration is relevant to that since such improvements will enhance stability and efficiency performance in terms of grid operations in a country with such aspirations- those aspirations being the modernization of energy systems and the modernization of infrastructural energy.
Analyze the Power Distribution Market
Smart grids enhance power distribution efficiency. Our in-depth report on the Power Distribution Market provides comprehensive data on market dynamics, technological advancements, and key opportunities.
Itron is delivering smart grid solutions for utilities and cities that can make their energy and water more efficient. The solution is designed to be implemented in a variety of operating conditions, addressing various business priorities and investment goals, thus providing customers with visibility they have never experienced before in all about measurement, control, network management, system operations, data management, and analysis.
Itron announced the launch of Grid Edge Essentials in October 2024. It is a cost-efficient pre-integrated solution powered by distributed intelligence and will offer utilities a more effective and quicker energy transition by solving their major issues dealing with the grid edge. The step will facilitate a smooth entry into new technologies by allowing visibility into the grid edge for distribution and improving consumer engagement to be improved.
Enphase Energy planned to ramp up its grid services program to New Hampshire, North Carolina, and California, making it a leader in supplying microinverter-based solar and battery systems in October 2024. This is a kind of program that pumps energy from home batteries into the community during peak demand periods to replace expensive and polluting power plants. Incentives for homeowners include reductions in utility costs, such as discounts on Enphase Energy Systems with IQ Batteries or continuous payments.
Discover the Solar Energy Market
Smart grids integrate solar energy solutions for sustainability. Our Solar Energy Market Report offers insights into market trends, key players, and growth opportunities.
S&C Electric Company is the major player in the business of smart grid and the manufacturing of products that can help in controlling or protecting power flowing through energy lines. Some of these products offered include Intelligent Electronic Devices (IEDs), Reclosers, Sectionalizers, Distribution Automation Systems, and Grid Modernization Solutions. IEDs give faster response time and more reliable services, while the two devices above isolate faults on the grid and thus reduce service interruptions. Moreover, Distribution Automation Systems allow utilities to take actions on those grid facilities remotely, improving the production efficiency further along with reduced maintenance costs.
Stem is the world’s foremost AI-driven energy storage solution, optimizing and maximizing renewable energy value by coupling newly integrated technologies with Athena®. It helped enterprises set up a smart, flexible clean energy infrastructure, so that they can achieve resilience, sustainability, cost savings, environmental footprint, and innovation.
Uplight is a technology partner for energy providers transitioning to a decarbonized future, announced its acquisition of AutoGrid, a Virtual Power Plant and Distributed Energy Resource Management System provider, in December 2023. Uplight will then be able to develop and manage flexible capacity in energy grids and do so in three areas: electrification, digitization, and decarbonization.
Eaton is a company in power management, which produces GridAdvisor optical medium-voltage and current sensors to measure and provide site intelligence in real time into electrical distribution grid systems, substations, and underground locations as well as electrical, hydraulic, and aerospace domains. The latest invention brought to the market by Eaton in September 2024 is the AbleEdge system, which contributes to the smart revolution of smart breakers and home energy management, upgrading the smart grid technology.
Go from Insight to Action with Our Market Research
You’ve seen the overview. Now, get the detailed data and strategic analysis you need to stay ahead in the energy sector. Explore our related, in-depth reports.
Each report includes comprehensive data, forecasts, and competitive analysis to empower your business decisions.
Haptic Technology Market size worth US$25.969 billion by 2030
Press ReleasesThe haptic technology market is expected to grow at a CAGR of 9.15%, reaching a market size of US$25.969 billion in 2030 from US$16.762 billion in 2025.
Haptic technology is a device that generates a sensation and experience of touch when force is applied. Haptic usually means the sense of touch. The haptic technology is used across various industries and industry verticals, like gaming, automotive, healthcare, and robotics. One of the best samples of haptics across the globe is the vibration technologies in the latest smartphones.
The use of haptics is useful in all major industries. In the healthcare industry, haptic technology can improve the precision of medical measures, like surgeries, and can also create an improved way for the patient to interact with the medical devices. In the healthcare industry, haptics can also help the medical personnel with improving the physical therapy process, and can also help in the development of new treatment methods for multiple conditions, like chronic pains. Similarly, in the automobile industry, haptic technologies can be used to deliver vehicle drivers with haptic feedback, preventing any chance of accidents, and errors while driving.
Various businesses are involved in the development of haptics technologies, in the global market. For instance, in May 2024, Apple, a global technological leader in mobile and computing devices, its new feature of haptics technology, the Music Haptics, in the global market. The company aims to empower disabled consumers, with music experience, using haptics technologies. With the help of this technology, the company is offering the user the feel of tap, texture, and vibrations of the audio of the music. Several companies and organizations are also trying to develop new haptics technology, the haptics hologram technology, which uses ultrasound-emitted-phased arrays, that allow users to touch and feel virtual objects.
The application of haptics technologies is across multiple industries and verticals. Companies are developing various new devices with better haptics technologies embedded in them. In March 2024, the Immersion Corporation, a haptics technological leader signed a licensed agreement with Nintendo, to provide the new haptic technology developed by the Immersion Corporation into the Nintendo products. Similarly, the Immersion Corporation also signed the licensed agreement with Meta (formerly known as Facebook Inc.) in February 2024, to introduce the technology into Meta’s hardware and software, like ARs, VRs, and other gaming products.
Segmentation of the Haptic Technology Market
The haptic technology market by device is segmented into active haptics and passive haptics. The active haptics, under the device segment of the haptics technologies, are expected to attain maximum shares. Active haptic feedback includes vibrations, and oscillation, which can be generated using special actuators. This device aims to produce haptics based on the human touch or response.
The haptic technology market by component is segmented into microcontrollers, software, actuators, and others. Under the component segment, the actuators are estimated to attain the maximum share of the haptics technologies. The haptic actuators are one of the main components of haptic technologies. It consists of a magnetic coil that pushes the mass vertically, to create a vibration.
The haptic technology market by application is segmented into healthcare, gaming, automotive & transportation, education & research, engineering, and others. The gaming sector in the application segment is anticipated highest share in the segment. The global gaming industry has witnessed a major boost in recent years. The gaming landscape uses the haptics in the gameplay, on multiple devices, like smartphones, and ARs/VRs.
Based on geography, the haptic technology market is expanding significantly in the North American region, as the region is among the global hubs for technological development. Countries like the USA, and Canada, offer large landscapes of gaming and healthcare developments, along with research and engineering.
Key Players in the Haptic Technology Market
The research includes several key players from the haptic technology market, such as 3D Systems, Inc., Texas Instruments Incorporated., AAC Technologies, Microchip Technology Inc., and Immersion.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/haptic-technology-market
This analytics report segments the haptic technology market as follows:
The Impact of Recycling Initiatives on the Bottled Water Packaging Industry
BlogAs it provides an easy means of getting hydrated, the bottled water industry is always under sharp scrutiny regarding the environmental implications associated with plastic packaging. In addition to their colossal contribution to pollution in marine environments, huge concentrations of plastic bottles have accumulated in landfills and depleted natural resources. Recycling has become very crucial as it presents challenges and opportunities in an economy transitioning towards a circular system.
One of the major difficulties is contamination. Bottles improperly disposed of or containing residues-food or beverages-end up mixed with other types of waste, lowering the quality of the recycled plastic. This often makes the material unsuitable for food-grade applications, greatly reducing its value and limiting the recycling process. For instance, when a plastic bottle carrying sugar particles from a sugary drink is sorted together with other plastics for recycling, all the items become weaker and unsuitable for use in food packaging. This entails thorough washing and segregation procedures hence making the recycling processes costly and complicated. There is also a factor in the matter of demand of the market.
While the availability of recycled plastic in the market is on the rise, it has not reached the level of demand. Recycling efforts can only be encouraged if there is a market for recycled plastic products thus the need to expand the markets for recycled plastic. This requires more money to be spent on technologies for using recycled plastic in many ways rather than just the conventional use in the production of new bottles. Other areas include textile production, construction material manufacture, and even automobile parts. These markets expanded would lead to a higher demand for recycled plastic, increasing the recycling rate, and closing the loop in the plastic value chain.
There are, however, plenty of opportunities for recycling initiatives
Overcoming these challenges and capitalizing on these opportunities requires a multi-faceted approach
Additionally, in April 2023, a business partnership was signed with Sumitomo Chemical Co., Ltd. and Rever Corporation for the recycling of waste plastics arising from End-of-Life vehicles (ELVs). Through this business alliance, both companies cooperated in terms of establishing a circular waste plastics recycling system, this means collection, sorting, and recycling processes of waste plastics into useful plastic resources, and steering up the business of plastics recycling, which has become a pressing issue not only of the automotive industry but of the entire society as well.
These strategic approaches can allow for shared standards development, investment in research and development of new technologies, and policy advocacy that is supportive of recycling and the use of recycled content.
Recycling Initiatives Affecting the Bottled Water Packaging Industry:
These initiatives, alongside improved collection infrastructure, are forcing the bottled water industry towards more sustainable and circular economies.
Through cooperation and proactive response to the challenges it faces, the bottled water packaging industry can utilize recycling initiatives to step into a future that is not only more sustainable and circular but also minimizes its environmental impact and ensures proper management of plastic resources.
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AI in Customer Service Market size worth US$1,384.688 million by 2029
Press ReleasesThe AI in customer service market is projected to grow at a CAGR of 23.93% over the forecast period, from US$473.659 million in 2024 and is expected to reach US$1,384.688 million by 2029.
AI is among the most advanced and latest technological solutions, which offers its capabilities across multiple industries, like manufacturing, healthcare, BFSI, and automotive among others. In the global customer service sector, artificial intelligence-based tools and platform is expected to revolutionize the customer experience across multiple industries. In the customer service sector, AI helps to design and create personalized, accurate, reliable, and faster support experiences. AI in customer services also helps in boosting the efficiency of the customer services platform, and it also reduces the cost of operations. It also optimizes customer service experience and has the capability to handle higher support demand.
Growth Drivers of the AI in Customer Service Market
The global demand for AI in the customer services market is expected to witness significant growth majorly with the rising development in the global AI-based technological sector, and increasing demand for customer service platforms. Moreover, the increasing usage of the internet across the globe is also forecasted to boost the demand for AI in the customer service sector significantly. With the growth in the global demand for customer services market, various companies and organization across the globe will increase their investments in further developing the efficiency of these platforms. For instance, in October 2024, iQor, a global customer engagement solution leader, launched an AI-simulated training solution, which is aimed at boosting the efficiency of customer service performance. Similarly, the global leader in cloud-based technology company, Salesforce Inc., in October 2024, announced the launch of its Autonomous AI Agents, which is aimed at boosting the workforce scale. The company also launched Agentforce Service Agent, which is a customer-based AI agent, which offers efficient customer service experiences.
Segmentation of the AI in Customer Service Market
Artificial intelligence (AI) in the customer service market, under the technology segment, is categorized into chatbots, virtual assistance, generative AI-based FAQs, and data insights from customers. Under the technology segment of the global Artificial intelligence (AI) in the customer service market, the chatbot category is forecasted to witness significant growth during the forecasted timeline. Chatbot or AI chatbot is a type of conversational platform, which offers text-based responses to the users. The chatbots, in the customer service market, help efficiently and quickly offer support to the customer’s queries. It analyzes the customer’s interaction and recommends personalized suggestions.
Under the deployment segment, artificial intelligence (AI) in the customer service market, is categorized into cloud, on-premise, and hybrid. The cloud category in the deployment segment of Artificial intelligence (AI) in the customer service market is estimated to attain a greater growth rate. In the cloud-based deployment model, the data along with the algorithms are stored in a data center, which is connected to the internet. This deployment solution offers easy deployment of the platform and also reduces the operating cost of servers and other components.
The application segment of artificial intelligence (AI) in the customer service market, is categorized into finance, technology company, government, retail, healthcare, hospitality, and others. The finance category, in the global Artificial intelligence (AI) in the customer service market, under the application segment is estimated to attain a greater market share. In the finance sector, the AI-based customer service platform helps in the finance industry by automating customer queries and offering personalized results. It can also suggest various investment and saving schemes.
Based on geography, the North American region is forecasted to witness the maximum share of global artificial intelligence (AI) in the customer service market. North America is among the leading regions in developing and integrating AI-based technologies across multiple sectors, like finance, education, healthcare, manufacturing, and industrial among others. Countries like the USA and Canada have also introduced multiple key policies and investment opportunities to boost the development of AI-based technologies in the region.
Key Players in the AI in Customer Service Market
The research includes several key players from the AI in Customer Service Market, such as Aisera, Vonage America, LLC, Nuance Communications, Inc., NitroBots (iCumulus Pty Ltd), Tiledesk, Nokia, IBM, Amelia US LLC, Zendesk, CallMiner, Convin, Enthu.AI, NICE, Verint, and Bright Pattern, Inc.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/ai-customer-service-market
This analytics report segments artificial intelligence (AI) in the customer service market as follows:
Berry Global, Inc. and SIG are the leaders in Caps And Closures Market as per the Knowledge Sourcing Intelligence
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Drug Delivery Market size worth US$1,246.822 billion by 2030
Press ReleasesThe drug delivery market is expected to grow at a CAGR of 7.83%, reaching a market size of US$1,246.822 billion in 2030 from US$1,071.016 billion in 2025.
A drug delivery device is a specialized apparatus that is meant to be used for releasing drugs with precision and control. Over time, drugs increased the durability of human life, as well as improved human health; however, the way drugs are delivered has undergone significant changes in recent times. Through molecular biology methods, one can find drugs that interact with biological sites other than those assumed as targets hence causing non-severe side effects. Drug delivery systems regulate how much of the drug is released and where it goes. The market is rising due to the increasing cases of chronic diseases, the enlarged medical diagnostics industry, technological advancements, and new businesses springing up.
Growth Drivers of the Drug Delivery Market
The demand for drug delivery is also rising as the number of people with chronic diseases is on the rise. For instance, 8.89 million individuals succumbed to ischemic heart disease alone in 2019. Additionally, drug-delivery devices are increasingly accepted due to the escalating rate at which diabetes, cancer, and respiratory conditions are becoming common in the world. According to the National Institute of Health in India in 2022, there are roughly 21% of the older population of the country have chronic diseases, an increase in the instances of which will be instrumental in boosting biopharmaceuticals intake. The growing incidence of chronic illnesses is projected to provide support for the demand of pharmaceutical and drug delivery systems.
Further, the market expansion is anticipated to be driven by a rise in the use of cutting-edge technology to efficiently deliver medications to the target site. Additionally, by optimizing drug delivery at the target site, the use of these drug delivery devices lowers the likelihood of side effects. This aids in reducing the dosage and any related adverse effects.
Additionally, it is expected that the growing awareness on the advantages of drug delivery devices will drive market expansion in North America. In addition, approval of products from countries such as the USA are projected to spearhead development within the sector. The Vertiva which was produced by Stevenato group was launched in June 2023, this being a binding drug distribution system applied in multiple treatments and large-scale delivery implications.
Segmentation of the Drug Delivery Market
The drug delivery market, by type, is divided into five types- Inhalation Drug delivery, injectable drug delivery, nasal drug delivery, oral drug delivery, and transdermal drug delivery. Being deemed the most effective means for drugs reaching human bodies, injectable drug delivery is also declared the most effective means of administration. This is why they are said to be high on demand since prevalence rates for chronic illnesses globally are on the increase scale over the projected period. Furthermore, such illnesses include age-related conditions globally due to the population ageing and increases in healthcare expenditures.
The drug delivery market, by technique, is divided into four types- Needle-free injectors, drug delivery patches, autoinjectors, and others. Autoinjectors contain prefilled syringe and a spring-loaded mechanism for dispensing medicine. They are designed to help patients use their medicines at home without going to the hospital. These gadgets offer first aid solutions for instances such as anaphylaxis or severe allergy attacks and migraines as well as some long-term diseases such as multiple sclerosis (MS) or auto-immune disorders such as rheumatoid arthritis (RA) and systematic lupus erythematous industries. Instances of emergency conditions, including anaphylactic shock and migraine attacks, are becoming more common worldwide as a result of a number of causative factors, including food allergies, insect bites, and medication insensitivity. The need for biological therapies to treat these chronic diseases is great due to their increasing incidence.
The drug delivery market, by application, is divided into three types- Cancer treatment, infectious diseases treatment, and others. Cancer patients are being treated with a variety of cutting-edge drug delivery techniques. For the creation of cancer treatments, a broad variety of nanoscale compounds based on proteins, lipids, synthetic polymers, and organic and inorganic particles have been used.
The North America region is expected to witness significant growth in the drug delivery market during the forecasted period. The growing use of drug supply devices and the presence of significant players in the area are to blame for this. Furthermore, it is anticipated that growing regional awareness of the benefits of drug delivery devices will support market expansion in the area. Furthermore, rising product approval in nations like the United States is anticipated to support market expansion. The Stevanato Group introduced Vertiva in June 2023. It is a scalable drug distribution platform that can be used for a variety of therapies and high approach volumes.
Key Players in the Drug Delivery Market
The research includes several key players from the drug delivery market, such as Pfizer, Insulet Corporation, West Pharmaceutical Services, Inc., Enable Injections, Mersana Therapeutics, Becton, Dickinson and Company, Recipharm AB, Medtronic, Boston Scientific Corporation.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/drug-delivery-market
The analytics report categorizes the drug delivery market using the following::
Top Players in the Premium Alcohol Market: Brands Leading the Luxury Spirit Movement
Thought ArticlesPremium alcohol has quality ingredients and time-honored distillation techniques. Premium spirits have the sophistication for taste and smell. The emergence of high-end, large-format retail stores in growing economies is boosting the demand for premium alcohol. These stores are also drawing people of all demographics. According to the ICRA (Investment Information and Credit Rating Agency), India witnessed a 9% increase in revenue in Q1FY25. The policy changes by several countries expanded the brand choice offering both domestic and international brands to the customers. The easy payment system by digitalization has played a significant role in the increase of sales in the sector.
Further, the increasing consumption of alcohol globally has also influenced many companies to provide premium and different varieties of alcohol. For instance, according to data from the OECD, in 2021 France had a consumption of 10.6 Litres/per capita (aged 15 and over) which surged to 10.8 in 2022, similarly, Spain has per 10.4 Litres/capita (aged 15 and over) in 2021 which surged to 11.8 in 2022.
Alcohol Consumption, Spain and France, Litres Per Capita (Aged 15 and Over), 2021 and 2022
Source: OECD
Top companies in the premium alcohol market
Let’s discuss each in detail.
Pernod Ricard SA
Pernod Ricard is a significant player in premium international wines and spirits. The company has several iconic brands. Such as Absolut Elyx, Perrier-Jouët, Havana Club, and Chivas among others
Diageo Plc
Diageo is a prominent company in the Total Beverage Alcohol (TBA) and one of the world’s largest brand builders. They own over 200 brands and sales in nearly 180 countries. Their portfolio brings some of the most iconic brands from around the globe. According to the company’s annual report, the company sold about 4% of its luxury, 5% of the ultra-premium, 16% of the super-premium, and 37% of premium products out of its total portfolio.
According to the company report, the spirits’ long-term value growth is also driven by premiumization as consumers want to drink better. In the last 10 years, premium and above spirits grew from 26% of category value to almost 35%. The super-premium plus price tier has grown in value more than two times faster than other price tiers in the category.
Bacardi Limited
Bacardi Group is the largest privately held spirit company in the world. They have a world-class portfolio of over 200 brands and labels, including BACARDÍ rum, PATRÓN tequila, GREY GOOSE vodka, DEWAR’S Blended Scotch whisky, and BOMBAY SAPPHIRE gin, among others.
The company is expanding into premium single malt and blended scotch whisky. They are investing in the future of the category with the completion of several improvement projects at its production sites across Scotland. In October 2024 the company added three new state-of-the-art aging warehouses at its 200-acre blending and maturation center, Poniel in southeast Glasgow. Meanwhile, at Aultmore Distillery in Speyside, an expansion project was completed to improve efficiency and safety and install new technology to help reduce energy and water consumption on site. The new boiler has also been installed to have the capacity to switch to hydrogen fuel in the future. Their investment in Aultmore and Macduff distilleries and Poniel blending and maturation center was an important step in the premium and ultra-premium whiskies portfolio.
The Brown-Forman Corporation
The Brown-forman Corporation was founded by George Garvin Brown, more than 150 years ago. With employees numbering more than 5,700. From a single brand of Old Forester, in one market, the United States, their portfolio has grown to more than 40 brands sold in more than 170 countries. The company is witnessing staggering growth in its brand revenue and volume.
The company’s Woodford Reserve has grown in double digital and become the number-one super-premium American whiskey brand in the world by volume and value, based on IWSR (International Wine and Spirits Record) 2023. Further, Double Oaked Expression, which was launched in 2012, had grown to be the third-largest ultra-premium American whiskey by volume in the world.
Following this the company acquired the Gin Mare brand and the Diplomático brand and related assets in fiscal 2023. The deal was done at a purchase price of $1.2 billion. In fiscal 2023, these brands positively contributed to net sales growth. The company has well-positioned itself to meet consumer trends and preferences for premium, super-premium, and ultra-premium brands.
Hermes Distillery
Hermes Distillery was founded in 2018 by Amit Kore, an Indian premium brand. It offers several labels, ranging from aspirational to super-premium. Their Rock Dove, a premium whiskey offers exquisite flavors that are both sophisticated for the new generation. It is endorsed by discerning professionals for color, aroma, and taste.
It meets the highest standards and remains exclusive. Further, their offering Murano, is made from molasses and aged in Oak Barrels with added sugar cane. This is offered in 180 ml, 375 ml, and 750 ml packaging. Besides, their Indian Honey is an ultra-premium spirit and is a concoction of anise with aroma. From a copper cauldron, this liquor is passed through a basket of anise seeds and secret ingredients for a distinctive flavor.
Conclusion
With the growing affluence of the middle class, online distribution channels, growing awareness, growth of the millennium population, and higher appreciation for over the third place (OTTP) at home has increased the demand for premiumization. This boosted the brands to elevate their super-premium brands and capture global growth across the category. The global trend is also witnessing the switch to spirits from beer and wine. The premium spirits growth is supported by the favorable population demographics class in key markets globally. The global companies are focusing more on the growing market of Asia Pacific, Middle East, and Africa to expand their offerings.
AI In Defense Market size worth US$18.558 billion by 2029
Press ReleasesThe AI in defense market is estimated to expand at a growth rate of 30.22% CAGR during the projected period to account for US$18.558 billion by 2029, up from US$4.956 billion in 2024.
Artificial Intelligence is revolutionizing the way people and businesses work. It is becoming a crucial component in modern technology-driven warfare. The technologies that are being built today for the defense sector are very different from how it was developed earlier. The emerging new AI technologies are playing a crucial role in the development of the defense sector. It is allowing new opportunities for defense technologies to improve its efficiency and productivity. AI-based technology is being extensively used in the defense sector in surveillance, logistics, cybersecurity, training, autonomous combat vehicles, and in many more ways.
Governments around the world are investing in artificial intelligence in the development of defense equipment. In particular developed countries are investing a substantial portion of their investment in the defense sector in research and development in technologies like Artificial Intelligence and its usage in military and defense. The increasing government spending on AI advancements is increasing the adoption of AI-based technologies like surveillance, target identification, semi-autonomous vehicles, cyber security, etc. as nations are prioritizing technologies and military readiness amid the global security challenges. For example, in 2023, the USA has allocated $816 billion for national defense, and according to reports around a value of $4.6 billion is associated with AI-related federal contracts though the overall budget allocation in artificial intelligence is not explicitly mentioned.
Hence, the governments are increasing their investment in AI in the defense sector for a robust military and a more efficient defense system for securing their position in the heightened security challenges is accelerating the growth of AI in the defense market.
Segmentation of the AI In Defense Market
The AI in the Défense Market, based on Application, is divided into five types- intelligence and surveillance, cyber security, combat training, reconnaissance, and others.
Artificial intelligence is transforming the way intelligence and surveillance perform in defense and security by analyzing historical data and current trends, and by identifying individuals or objects through facial recognition systems, drone surveillance, and other ways. Artificial intelligence is playing a significant role in cyber security as well by detecting threats, detecting vulnerabilities i.e., software bugs, and performing response actions against cyber threats.
The AI in the Défense Market, by platform, is divided into three types: land, airborne, and space and naval. The defense sector uses artificial intelligence for Land operations such as using AI along with Machine learning for better targeting to combat vehicles, assisting drones to take off without being handled by humans, etc. AI is also transforming Airborne & Space operations by enhancing surveillance, automating response, and helping to assess the situation of space to prevent accidents. AI is also used in Naval operations helping it to have better surveillance, detecting threats, and automating response. One particular application of AI in naval operations is automating ships or vessels like Unmanned Surface Vessels or Unmanned Underwater Vehicles.
The AI in Defense Market, by technology, is divided into four types: machine learning, computer vision, natural language processing, and others. Machine learning helps in analyzing data, predicting the future, and detecting anomalies thus helpful for many real-time applications in defense like detecting threats by analyzing the historical data and understanding the current trends., Computer vision technology is being widely used to detect the object or to detect images enabling defense equipment to understand the threat. For example, Computer vision technology like drones and aircraft help in the automatic detection of objects thus critical for identifying threats.
During the projected timeframe, it is anticipated that the market for Artificial Intelligence in Défense Market will experience remarkable growth within Asia-Pacific. Countries like India, China, and Japan are witnessing the expansion of the AI market. At the same time, these countries are investing heavily in artificial intelligence for application in defense sectors to have an advantageous position in combating national security.
Key Players in the AI In Defense Market
The research includes several key players from the AI in defense markets like IBM Corporation, Booz Allen Hamilton Inc., Qualetics Data Machines Inc., Raytheon Technologies Corporation, Boeing, Lockheed Martin Corporation, Thales Grou, BAE Systems Plc, L3Harris Technologies Inc. and Northrop Grumman Corporation.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/ai-in-defense-market
The Artificial Intelligence in Défense Market is segmented and analyzed as follows:
Applications of Smart Windows: From Residential Homes to Commercial Skyscrapers
BlogSmart windows are a type of window, which is equipped with multiple features, glazed glass that helps in controlling the various forms of light, like UV and IR rays. The smart windows also help maintain the temperature of an infrastructure, which further reduces the cost of energy. The key component of a smart window is the PDLC glass or Polymer-Dispersed Liquid Crystal glass, which is a form of glass material that features a polymer structure and scattered fragments of liquid crystal. PDLC glass features unique properties, which help the glass to efficiently switch from completely transparent to opaque, with the introduction of electricity. In the global market, various types of smart windows are available, which include external smart windows, internal smart windows, safety glass smart windows, and retrofit smart windows among many others.
The smart windows feature multiple benefits and features, as they help reduce the energy and heating costs of the infrastructure. Smart windows have the capability to control the entry of lights, and also add an additional layer of privacy to the glass, enhancing security. The application of smart windows also increases the overall comfort and user experience and helps in improving the aesthetics of the infrastructures. The smart windows offer its applications across multiple industries, which majorly include construction & infrastructure, automotive, and aerospace.
Use Case:
The growth of the architectural and construction sector in the global market is expected to propel the growth of the smart window in the next few years.
1. Increasing constructions of skyscrapers.
With the increasing global construction of skyscrapers, the demand for smart windows is expected to witness significant growth. In skyscrapers, smart windows offer a key application, which helps in improving the overall looks of the building. A skyscraper is a type of tall building, which is majorly taller than 100 meters. In the past few years, the global infrastructure market witnessed massive growth in the construction of skyscrapers. In skyscrapers, smart windows offer major applications, which include increasing the energy efficiency of the buildings and also reducing the need for air conditioning and heating for such buildings.
The Council on Tall Buildings and Urban Habitat or CTBUH in its global report stated that in 2023, the total completion of skyscrapers in the globe witnessed an increase of 16% over 2022. In 2023, about 156 total skyscrapers were completed. The agency stated that in the global market, a total of 2,310 200+ meter buildings are constructed, whereas a total of 237 300+ meter buildings are constructed. The agency further stated that in 2023, China witnessed about 94 skyscraper competitions, whereas India and UAE witnessed the completion of 11 skyscrapers each.
Total Number of Skyscraper Completion in China, India, and UAE, 2023
Source: Council on Tall Buildings and Urban Habitat
2. Growth of the global construction sector
The increasing output of the construction sector is expected to propel the demand for smart windows in the global market. With the increasing global construction sector output, the construction of residential and commercial infrastructures is expected to increase significantly. In the past few years, the global construction output witnessed significant growth, especially in developing countries like India, Malaysia, and Vietnam among others.
The Office of National Statistics of the United Kingdom in its domestic construction output market witnessed massive growth. The agency in its report stated that in 2023, the total value of new construction work was recorded an increase of about 4.2%, which reached GBP 139,029 million. The agency stated that in 2023, the value of new construction in the private sector increased by GBP 2,050 million, whereas the value of the public sector increased by GBP 3,578 million.
The agency further stated that in 2023, the total value of private housing in the UK was recorded at GBP 46,255 million, whereas the construction value of private commercial and private industrial was recorded at GBP 29,010 million and GBP 8,509 million respectively. The construction value of private and public infrastructure in the nation was recorded at GBP 16,643 million and GBP 20,053 million respectively in 2023.
Key developments
In the global construction and infrastructural sector, smart window plays a critical applications. Smart windows are used as a major replacement for traditional windows and shades in both commercial and residential infrastructures. In the commercial and residential infrastructural market, smart windows help in reducing the energy cost of the infrastructures. It also helps in enhancing the overall experience of the users and improving the looks of the buildings.
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