Unified Communication as a Service (UCaaS) Market to Reach USD 69.93 Billion by 2028; Genesys Collaborates with Arvind Limited to Expand Business: Fortune Business Insights™

 The global unified communication as a service (UCaaS) market size was USD 25.85 billion in 2020. The market is expected to grow from USD 28.96 billion in 2021 to USD 69.93 billion in 2028 at a CAGR of 13.4% during the 2021-2028 period. This vital piece of information is presented in the report, titled, “Unified Communication as a Service (UCaaS) Market, 2021-2028”, by Fortune Business Insights™.

According to our research experts, the progression in cloud infrastructure has navigated the demand for unified communication services expansively. Additionally, businesses across the globe are implementing unified communication as a service (UCaaS) platforms to influence services such as messaging, video & audio conferencing, and other associated tools. Therefore, this is expected to aggravate the demand for UCaaS in the long term.

List of Key Players Covered in the UCaaS Market Report

• RingCentral, Inc. (California, U.S.)
• ALE International (Boulogne-Billancourt, France)
• Sify Technologies, Ltd (Chennai, India)
• Tata Communications, Ltd. (Maharashtra, India)
• Verizon Communication, Inc (New York, U.S.)
• Genesys (California, U.S.)
• Metaswitch Networks Ltd (London Borough of Enfield, U.K.)
• Mitel Networks Corporation (Ottawa, Canada)
• Polycon, Inc. (California ‎, U.S.)
• Zoom Video Communications, Inc. (California, U.S.)

 

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Report Coverage

The report presents a holistic study of the UCaaS market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors is also mentioned in the report. Step by step, a thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the growth of the market are shared in the report.

Drivers and Restraints

Approval of Circulated Workforce and Remote Work Methods to Bolster Growth

The rising implementation of smart mobile gadgets and improvements in association tools are empowering remote work and dispersed workforce tactics. Similarly, establishments are employing a ‘bring your own device’ (BYOD) rule across their business facilities. This approach is likely to help organizations upsurge efficiency, refine internal interaction, and eradicate additional prices. This is expected to eventually bolster the unified communication as a service (UCaaS) market growth during the forecast period.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/unified-communication-as-a-service-ucaas-market-101934

Distant Working amid COVID-19 Pandemic to Spur Demand for Unified Communications

Since the commencement of the COVID-19 pandemic, establishments across the globe have adopted remote working platforms to guarantee worker protection and reduce COVID-19 spread. Since workers have begun working from their houses, there has been an exponential demand for online communication and association platforms fortified with progressive technology.

Moreover, an upsurge in distance learning and work from home rules has further improved the implementation of services. Occasioning is the swift shift of enterprises to the cloud service model to administer their teams and escalate employee efficiency.

Regional Insights

North America to Lead, Stoked by Adoption of Video and Audio Conferencing

North America is holding a major unified communication as a service (UCaaS) market share, owing to the implementation of innovative business communication services. End-use enterprises across this region have embraced services such as chat, video & audio conferencing, voice, mails, and others as an incorporated portion of their procedures. The region generated USD 9.92 billion in 2020 in terms of revenue.

Europe is estimated to display reasonable growth during the forecast period. The growth is owing to the implementation of communications gears, utilization of pay-per-use model, surging movement trends, and others throughout the education and healthcare sector.

Asia Pacific is projected to grow with the maximum CAGR during the forecast period. The growth of this region is owing to the rising demand for internet-grounded interaction services across small-scale and medium-scale enterprises.

Competitive Landscape

Collaboration is a Chief Tactic Adopted by Players to Progress their Offerings

Prominent players are principally concentrating on concluding strategic partnerships and collaborations to augment their product and service collections. Moreover, speculation across modified products and service introduces is aiding prime companies to reinforce their spots in the market for UCaaS. Several prime companies have prolonged their merger deals with cloud service suppliers to elevate performance.

Industry Development

August 2020: GapMaps unveiled a unified communication platform-as-a-service for the Victorian community across metropolitan Melbourne. The platform helps users in finding essential services within a 5 km radius of their location easily.

June 2020: Genesys introduced a unified contact-center-as-a-service solution known as ‘Omnipremise’ in collaboration with Arvind Limited.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/unified-communication-as-a-service-ucaas-market-9497

Telehealth Market to Reach USD 636.38 Billion by 2028; Surging Healthcare Cost to Propel Market Growth: Says Fortune Business Insights™

 The global telehealth market size is anticipated to reach USD 636.38 billion by 2028 and exhibit a CAGR of 32.1% during the forecast period. The growing adoption of telehealth in online consultation, behavioral health, cardiology, and radiology, coupled with the increasing start-ups funding, is expected to boost the growth of the market. Fortune Business Insights™ has presented this information in its report titled, “Telehealth Market, 2021-2028”. The market size stood at USD 144.38 billion in 2020.

The governments of several underdeveloped nations are developing projects to ensure healthcare delivery in rural areas and remote locations. Governments are focused on developing virtual care platforms to deploy telemedicine technology. Hence, the increased government initiatives are anticipated to propel the growth of the market.

Key Players in the Telehealth Market are:

• American Well (Boston, U.S.)
• MDLIVE Inc. (Sunrise, U.S.)
• Teladoc Health Inc. (Purchase, U.S.)
• Doctor on Demand Inc. (San Francisco, U.S.)
• Dictum Health Inc. (Oakland, U.S.)
• Grand Rounds Inc. (San Francisco, U.S.)
• OpenTeleHealth (Balticagade, Denmark)

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Report Coverage-

• The report provides insights into the political and economic scenarios of the market.
• The report provides a detailed assessment of the growth potential, demographics, and capabilities of the market.
• The report analyses the current and upcoming investment opportunities in the market.
• The report highlights strategies for growth in the upcoming years.
• The report also analyzes the impact of the COVID-19 pandemic.

Drivers & Restraints-

Surging Healthcare Costs to Propel Market Growth

The expanding geriatric population and the increasing prevalence of chronic diseases are expected to surge healthcare costs in the coming years. The Centers for Medicare and Medicaid Services projected an increase in the national healthcare expenditure in the U.S. from USD 3.81 trillion in 2019 to USD 4.01 trillion in 2020. Hence, the rising healthcare costs are anticipated to boost the global telehealth market growth.

Telehealth overcomes the distance barriers and ensures healthcare delivery across remote locations in developed and underdeveloped countries. The governments of numerous nations are forming policies and developing pilot projects to provide healthcare in rural areas. Hence, the increased government support is likely to boost market growth.

However, the deployment of digital health services requires high-speed internet, the latest communication devices, and others, resulting in an infrastructural and technological barrier. These infrastructural and technological barriers may hinder the growth of the market.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/telehealth-market-101065

COVID-19 Impact-

The sudden emergence of the humanitarian crisis has created unprecedented challenges for the global economy and hampered the growth of several industries and markets. However, the demand for telehealth solutions has increased during the pandemic as people feared contracting the virus from doctors and physicians. Online consultation has augmented manifold during the pandemic. According to Teladoc Health Inc., nearly 8 million to 9 million virtual consultations were recorded in 2020, twice the number recorded in 2019.

Additionally, the increased government’s support for digital health platforms has led to the formation of new policies and reimbursement guidelines. These factors are expected to bolster the growth of the market in the coming years.

Regional Insights-

Growing Preference for Teleconsulation to Fuel Growth in North America

North America is anticipated to witness the highest growth in the global telehealth market share. The favorable health reimbursements and the growing preference for teleconsultation are anticipated to boost the market's growth. Additionally, the strategic presence of key players is likely to stimulate market growth.

Europe is expected to gain striking growth in the coming years due to the swift remote monitoring device adoption and the favorable regulatory scenario.

Asia Pacific is projected to exhibit immense growth in the global market due to the high rural population, technological advancements in digital imaging, and enhancing healthcare infrastructure.

The Middle East & Africa, and Latin America are anticipated to gain moderate growth due to increasing healthcare expenditure and high unmet patient populations.

Competitive Landscape-

Inorganic Growth Strategies to be Highly Prosperous for Growth

In terms of revenue, the leading position is held by Teladoc Health Inc. due to the huge client base, paid memberships, and escalating number of virtual visits. The key players in the market are focused on network expansion through inorganic growth strategies such as partnerships, collaborations, mergers, acquisitions, and others. For instance, in March 2020, the Ministry of Health and Family Welfare (MoHFW) collaborated with NITI Aayog and the Board of Governors (BoG) Medical Council of India (MCI) to issue guidelines for telemedicine practice in India.

Industry Developments-

January 2021: Teladoc Health Inc. and DexCom Inc. launched CGM technology and personal insights for Type-2 diabetics. The new launch is aimed to offers inclusive recommendations and health profiles for members suffering from diabetes.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/telehealth-market-9211

 

Locomotive Market to Exhibit a CAGR of 8.8% during 2021-2028; Wabtec Corporation and General Motors’ Collaboration to Fuel Market Growth: Fortune Business Insights™

 The global locomotive market size is anticipated to reach USD 25.48 billion by 2028 and exhibit a CAGR of 8.8% during the forecast period. The expansion of rail networks worldwide due to the ever-increasing population and rapid urbanization are projected to boost the growth of the market. Fortune Business Insights™ has presented this information in its report titled, “Locomotive Market, 2021-2028”. The market size stood at USD 12.34 billion in 2020.

The swift digitization and technological advancements are likely to intensify the growth of the market. The rising adoption of autonomous locomotive and automated transit systems is expected to boost the market's growth.

Key Players in the Locomotive Market are:

• Bombardier Transportation (Canada)
• Alstom (France)
• Hitachi Ltd (U.K.)
• AEG Power Solutions (Netherlands)
• Siemens Mobility (Germany)
• Wabtec Corporation (The U.S.)
• Toshiba International Corporation (U.S.)
• CZ LOKO, A.S. (Czech Republic)
• CRRC Corporation Limited (China)
• Hyundai Corporation (South Korea)

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Report Coverage-

• Showcases a comprehensive assessment of the market.
• Highlights the latest industry developments of the market.
• Assimilates various drivers, threats, and opportunities for the market.
• Highlights the impact of the COVID-19 pandemic.
• Provides crucial information on the market’s competitive landscape.

Drivers & Restraints-

Swift Urbanization & Surging Population Rate to Propel Market Growth

The ever-increasing population and swift urbanization are anticipated to be the key propellants to the global locomotive market growth. The increasing road traffic congestion issues are also expected to stimulate the growth of the market.

Electric locomotives offer better performance, require lesser maintenance and energy costs, and also reduce pollution levels. The increasing concerns for environmental sustainability are likely to augment the adoption of electric engines and foster market growth. Additionally, the growing adoption of autonomous engines is anticipated to bolster the growth of the market.

The technological advancements in the industry are also projected to stimulate market growth in the coming years.

However, the high maintenance costs and capital-intensive rolling stock are likely to hinder the growth of the market.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/temperature-sensor-market-102434

COVID-19 Impact-

The humanitarian crisis has created unprecedented challenges on the global economic structure. The market for locomotives has witnessed a positive impact of the global pandemic. The swift digitization observed during the pandemic has resulted in new solutions for services and customers. The digitization has helped railways to lower operating costs, increase energy efficiency, and improved management. The market is expected to witness immense growth post-pandemic due to the deepening digitization of railways.

Regional Insights-

Expansion of Rail Network to Boost Growth in Asia Pacific

Asia Pacific is expected to hold the largest portion of the global locomotive market share. The expansion of the rail network, increasing urbanization, and the high population rate are likely to be the key growth propellants for the market. The governments of developed and developing nations such as India, Japan, and China are investing in infrastructural development. They are developing and acquiring high-speed trains and enhancing the safety and comfort levels. These factors are anticipated to bolster the market growth in the coming years.

Additionally, the high levels of road traffic congestion have resulted in massive adoption of public transportation, which is likely to complement the market’s growth.

Europe is anticipated to witness steady growth in the upcoming years due to several rail material manufacturers present in the region.

North America is projected to gain considerable growth due to the robust manufacturing base present in the region, particularly for diesel locomotives.

Competitive Landscape-

Key Players Emphasize Developing Efficient Engines to Garner Growth in the Market

The key players in the market emphasize developing advanced electronic and electric equipment to increase efficiency and power-delivery of locomotives. The businesses operating in the market are devising innovative growth strategies such as new product launches, technological developments, mergers, partnerships, acquisitions, and collaborations to gain growth impetus. For instance, Siemens Mobility partnered with Helmholtz Institute Erlangen-Nuremberg in May 2021 to develop liquid organic hydrogen carrier technology for rail transport.

Industry Developments-

June 2021: Wabtec Corporation collaborated with General Motors to develop and commercialize the HYDROTEC hydrogen fuel cell systems and Ultium battery technology of General Motors for Wabtec locomotives.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/temperature-sensor-market-9660 

Cryptocurrency Market to Hit USD 1,902.5 Million by 2028; Growing Adoption of Digital Currencies to Augment Market Growth: Fortune Business Insights™

The global cryptocurrency market size is expected to gain momentum by reaching USD 1,902.5 million by 2028 while exhibiting a CAGR of 11.1% from 2021 to 2028. In its report titled “Cryptocurrency Market, 2021-2028.” Fortune Business Insight mentions that the market stood at USD 826.6 million in 2020.

The demand for crypto has increased due to rising investments in venture capital. Additionally, the increasing popularity of digital assets such as bitcoin and litecoin is likely to accelerate the market in upcoming years. Furthermore, it has been seen that the digital currency is also used in the integration of blockchain technology to get decentralization and control efficient transactions. Thus, advantages such as these are also encouraging people to invest in crypto. For instance, In October 2018, Qtum Chain Foundation made a partnership with Amazon Web Services (AWS) China to use blockchain systems on the AWS cloud. With this collaboration, AWS will be able to help its users in using Amazon Machine Images (AMI) to develop and publish smart contracts easily and efficiently.

List of Key Players Profiled in the Report

• Bitmain Technologies Ltd. (Beijing, China)
• Xilinx, Inc. (California, U.S.)
• Intel Corporation (California, U.S.)
• Advanced Micro Devices, Inc. (California, U.S.)
• Ripple Labs, Inc. (California, U.S.)
• Bitfury Group Limited. (Amsterdam, U.S.)
• Ledger SAS (Paris, France)
• Nvidia Corporation (California, U.S.)
• BitGo (California, U.S.)
• Xapo (Zürich, Switzerland)

 

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What does the Report Provide?

The market report for cryptocurrency offers in depth analysis of various factors, which are influencing the market growth. Additionally, the report provides insights into the regional analysis of different regions. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration that contribute in boosting the market.

Driving Factor

Focus on Mitigating Financial Crisis and Regional Instability Drives the Demand for Virtual Currency

In recent times, financial disaster is one of the primary issues that occurs in the conventional banking system. This financial instability disrupts the economy by lowering the value of money. For instance, ICICI bank of India, in the year 2008, confronted the Lehman brother crisis, which hugely impacted the nation’s economy. But with using bitcoins, and other cryptocurrency, such situations of economic downfall can be avoided. Therefore, Cryptocurrencies are emerging as alternative options in the regions with unstable economic structure, and this has been a major driving factor for the cryptocurrency market growth.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149

COVID-19 Impact

The COVID-19 pandemic adversely affected the world economy. However, the relationship between Bitcoin and the equity market expanded amid pandemic. For example, in March 2020, the price of Bitcoin declined and went below USD 4,000 after a decline in the S&P Index in the U.S. Thus, as the Initial Coin Offering (ICO) market crashed, blockchain companies are emerging as major alternative to raise investment capital.

Regional Insights

North America to Dominate Backed by Presence of Prominent Players

North America is expected to remain at the forefront and hold the largest position in the market during the forecast period. This is because in most parts of the region bitcoins have become a medium of exchange for tax purposes rather than the actual currency. Although these are not legally regulated by the government, still many of the countries in the region are focused on using digital currencies. The region’s market stood at USD 273.0 million in 2020.

Asia Pacific is expected to showcase significant cryptocurrency market share in upcoming years, owing to several technological developments and acceptance of virtual currency for some platforms within Japan and Taiwan.  Additionally, the strategic collaborations, partnerships by key players are also fueling the regional market. For instance, in January 2020, Z Corporation, Inc. and TaoTao, Inc. collaborated with the financial service agency to widen the crypto market by confirming regulatory compliance in the Japanese market.

Competitive Landscape

Key Players to Focus on Introduction of New Services to Strengthen the Market Growth

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:

March 2021 – Visa Inc. aims to introduce crypto as a direct payment. With this key initiative, the company aims to accept cryptocurrencies as a payment method for the finance industry.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/cryptocurrency-market-9952

Industrial Automation Market to Hit USD 355.44 Billion by 2028; Increasing Adoption Discrete Automation to Augment Market Growth: Fortune Business Insights™

The global industrial automation market size is expected to gain momentum by reaching USD 355.44 billion by 2028 while exhibiting a CAGR of 9.2% from 2021 to 2028. In its report titled “Industrial Automation Market, 2021-2028” Fortune Business Insights mentions that the market stood at USD 179.74 billion in 2020.

With the advent of 5G wireless technology the demand for automation solutions across industries has increased dramatically. Moreover, due demand for Augmented Reality (AR), Digital Twin, and Industrial IoT is further boosting the market growth. Moreover, amid pandemic the purchasing manager index (PMI) indicated a decline in the manufacturing industry.

List of Key Players Profiled in the Report

• ABB Ltd. (Zürich, Switzerland)
• Emerson Electric Co. (Missouri, U.S.)
• General Electric Company (Massachusetts, U.S.)
• Honeywell International Inc. (North Carolina,U.S.)
• Mitsubishi Electric Corporation (Tokyo, Japan)
• Omron Corporation (Kyoto, Japan)
• Rockwell Automation Inc. (Wisconsin,U.S.)
• Schneider Electric SE (Rueil-Malmaison, France)
• Siemens AG (Munich, Germany)
• Yokogawa Electric Corporation (Tokyo, Japan)

 

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What does the Report Provide?

The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints which are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.

Driving Factor

Fourth Industrial Revolution to Drive Market Growth

With the increasing technology evolution the techno-savvy companies are coming up with new advanced technologies.  For instance, in February 2020, Honeywell International Inc. and Tech Mahindra Limited made a partnership to come up with “Factories of the Future”. With this collaboration company aims, to accelerate the digital transformation journey by empowering manufacturers. Similarly, Siemens collaborated with SAP SE to offer industry4.0-enabled business processes to enterprises. These processes will allow to build a digital thread for the complete product lifecycle, and such strategies are expected to drive the industrial automation market growth.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/industrial-automation-market-101589

COVID-19 Impact 

The outbreak of the coronavirus has affected the global economy adversely. The outbreak of the coronavirus is hastening the introduction of the fourth industrial revolution (Industry 4.0), propelling businesses across sectors to a higher level of internet of things (IoT) technology and workflow In March 2020, the European Commission proposed a temporary framework that promoted the growth of advanced industry 4.0 solutions among small and medium-sized businesses.

Regional Insights 

Europe to Dominate Backed by Presence Highest Number of Robot Density

Europe is expected to remain at the forefront and hold the largest position in the market during the forecast period because, in European region, in Jan 2021, the International Federation of Robotics (IFR) report mentioned that the Western Europe has 225 automated units per 10,000 employees and Nordic European Countries had 204 automated units per 10,000 employees, which is a maximum robot density worldwide. The region’s market stood at USD 57.85 billion in 2020. 

North America is expected to showcase significant industrial automation market share in upcoming years, owing to the presence of advanced production and manufacturing capabilities by manufacturers in the region.

Competitive Landscape 

Key Players to Focus on Acquisitions to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:

June 2021- Rockwell Automation Inc. announced the acquisition of Plex Systems for USD 2.22 billion. Through this acquisition, the company aims to expand industrial cloud offerings with Plex Systems’.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/industrial-automation-market-9329

 

E-Bike Market to Hit USD 52.36 Billion by 2028; Introduction of Sparta d-burst, New Speed Pedelec to Consolidate Market: Fortune Business Insights™

The global e-bike market size is expected to reach USD 52.36 billion by 2028, exhibiting a CAGR of 16.0% during the forecast period. The growing technological innovations coupled with growing cognizance regarding the efficiency, eco-friendliness, and convenience of e-bikes can have an excellent impact on the e-bike market growth, states Fortune Business Insights, in a report, titled “E-Bike Market, 2021-2028.” The market size stood at USD 16.86 billion in 2020. 

Report Lists the Key Companies in the E-Bike Market:

• Giant Bicycles (Taichung City, Taiwan)
• Energica Motor Company (Modena, Italy)
• Accell Group (Heerenveen, Netherlands)
• Robert Bosch GmbH (Gerlingen, Germany)
• Derby Cycle Holding GmbH (Cloppenburg, Germany)
• Pedego Electric Bikes (California, U.S.)
• Panasonic Corporation (Osaka, Japan)
• Mahindra & Mahindra Ltd. (Mumbai, India)
• Trek Bicycle Corporation (Wisconsin, U.S.)
• Bionx International Corporation (Ontario, Canada)
• Shimano Inc. (Osaka, Japan)
• VanMoof (Amsterdam, Netherlands)
•  

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Report Coverage:

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the virtual reality market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.

Driving Factor:

Increasing Adoption of Shared Micro-mobility to Augment Growth

The ecology of public transportation includes shared micromobility. As a flexible transportation alternative with minimal operating costs and overhead, shared electric micro-mobility can supplement higher-volume fixed-route transit systems by offering mobility services for numerous trips at a reduced per-traveler price. The North American Bikeshare and Scootershare Association (NABSA) released its annual report on the health of the shared micromobility business in August of 2021. According to the research, North Americans took 83.4 million journeys in shared micromobility cars in 2020, accounting for more than half of all trips in 2019. Over a third of all journeys were made on e-scooters. Pedal bikes and e-bikes accounted for over two-thirds of all travels. Despite all other trip patterns decreasing, the number of e-bike journeys grew from 7 million to nearly 10 million during the COVID-19 epidemic. As a result, the rising consumer acceptability of UBI will propel the e-bike market in the forthcoming years.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/electric-e-bike-market-102022

COVID-19 Impact:

E-bike sales have seen a significant increase, which began before the COVID-19 issue but has accelerated after the pandemic-induced lockdown. According to a report issued by the World Economic Forum (WEF), sales of electric bikes in the U.S. grew by 145 percent in 2020 compared to 2019. According to the NPD Group, e-bike sales with average selling prices over USD 1,000 grew by 190 percent in June 2020 compared to June 2019. As a result, the epidemic has sped up the demand for e-bikes.

Regional Insights:

Rising E-bike Sales to Augment Growth in North America

In 2020, Asia Pacific was worth USD 8.72 billion, with China accounting for the majority of the market share. The dominance is ascribed to factors such as substantial cycling infrastructure in established and emerging nations such as China and Japan, high automobile and public transport congestion, and growing stringency of pollution laws for e-bikes.

The market in Europe is projected to develop significantly. In July 2021, the Heinrich-Böll-Stiftung European Union released the second edition of the European Mobility Atlas. According to the research, E-bike producers and parts are operating in 23 of the EU's 27 member nations. Roughly 900 small and medium companies (SMEs) employ around 120,000 people and invest more than one billion euros in research and development. The market in North America is also projected to develop rapidly. According to NABSA, the number of bike-share systems that use e-bikes has grown from 28% in 2019 to 44% in 2020. Several cities, including Washington, D.C., New York, and San Francisco, have reduced speed restrictions, blocked automobile lanes, and built dedicated bike lanes. The rise in e-bike sales can be ascribed to these causes.

Competitive Landscape:

The Accell Group to Dominate the Market 

The Accell Group is a major participant in the electric bike industry. The firm employs roughly 3,100 people in 15 different countries. Furthermore, the company's motorcycles and associated goods are offered to clients and dealers in over 80 countries. The Accell Group is a major participant in the electric bike industry. The firm employs roughly 3,100 people in 15 different countries. Furthermore, the company's motorcycles and associated goods are offered to clients and dealers in over 80 countries.

Key Development:

September 2020: Sparta, a bicycle brand operating under the Accell Group, introduced Sparta d-burst, a powerful new speed pedelec. D-burst is available as both e-bike and speed pedelec. Moreover, it comes with a capacity of more than 1125 Wh.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/electric-e-bike-market-9542

Industry 4.0 Market to Exhibit a CAGR of 16.4 % during 2021-2028 Backed By Recent Advancements in Digital Technologies, Foresees, Fortune Business Insights™

The global industry 4.0 market size is expected to gain momentum by reaching USD 337.10 billion by 2028 while exhibiting a stellar CAGR of 16.4% between 2021 to 2028. In its report titled “Industry 4.0 Market, 2021-2028” Fortune Business Insights mentions that the market stood at USD 101.69 billion in 2020.

The increasing internet penetration is boosting the market growth opportunity. The recent advancements in digital technologies, along with industrial automation, have widened the opportunity for the market. For instance, in May 2021, Robert Bosch Engineering and Business Solutions Private Limited announced the launch of Phantom Edge to offer real time view of electric parameters, appliance level information, electrical energy consumption, and operating usage. The Phantom Edge combines of Artificial Intelligence and Internet of things (IoT) and can be used in various sectors including retail, industrial manufacturing, healthcare, agriculture and mobility among others.

List of Key Players Profiled in the Report

• ABB Ltd (Zürich, Switzerland)
• Siemens AG (Berlin, Germany)
• Cognex Corporation (Massachusetts, U.S.)
• Schneider Electric SE (Rueil-Malmaison, France)
• Honeywell International Inc. (North Carolina, U.S.)
• Emerson Electric Co. (Missouri, U.S.)
• Rockwell Automation, Inc. (Wisconsin, U.S.)
• General Electric Company (New York, U.S.)
• Robert Bosch GmbH (Stuttgart, Germany)
• Cisco Systems Inc. (California, U.S.)

 

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What does the Report Provide?

The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints which are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.

Driving Factor

Increasing Adoption of Robots to Drive Market Growth

In recent times, the demand for robots have increased. Moreover, robots, which were previously costlier and had limited offerings are now inexpensive machines that are capable of performing a wide range of tasks. Specifically, the industrial robots, are widely used by people all over the world. For instance, a report by the latest robotics industry trends, suggest that industrial robots are increasingly being used in manufacturing hubs, resulting in rapid advancements, development, and evolution, and this is expected to drive the industry 4.0 market growth.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-4-0-market-102375

COVID-19 Impact

The outbreak of the coronavirus has affected the global economy adversely, however, it had positive impact on industrial revolution (Industry 4.0). As the businesses are adopting to a higher level of internet of things (IoT) technology and workflow. For instance, in March 2020, the European Commission came up with a temporary framework that promoted the growth of advanced industry solutions among small and medium-sized businesses. This is expected to boost the market in upcoming years.

Regional Insights  

Europe to Dominate Backed by Increasing Investments 

Europe is expected to remain at the forefront and hold the largest position in the market during the forecast period owing to the substantial investment in technologies and skills to maintain its position in the global market. The deployment of connected objects and automation techniques has transformed the German manufacturing process and has given rise to the fourth industrial revolution. The region’s market stood at USD 34.60 billion in 2020.

North America is expected to showcase significant industry 4.0 market share in upcoming years, owing to the presence of major players operating in the region, government initiatives, and increasing funding in research and development activities are vital factors that is propelling the regional market.

Competitive Landscape

Key Players to Focus on Collaborations to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:

March 2020 - Cisco Systems Inc. announced its collaboration with Microsoft Corporation. This collaboration will allow seamless data orchestration from Cisco IoT Edge to Azure IoT Cloud, and it also empower users to get a pre-integrated IoT edge-to-cloud application solution and seamless flow of data through IoT edge.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/industry-4-0-market-9631