Emissions Management Market To Reach USD 43.6 Billion By 203...| MENAFN.COM

Thursday, 08 December 2022 08:54 GMT

Emissions Management Market To Reach USD 43.6 Billion By 2031 From USD $10.4 Billion In 2022, At A CAGR Of 15.7% During The Forecast Period


(MENAFN- America News Hour)

Key Companies Covered in the Emissions Management Market Research are , Salesforce (US), ENGIE (France), IsoMetrix (South Africa), Schneider Electric (France), Intelex (Canada), IBM (US), SAP (Germany), Enablon (France), Trinity Consultants (US) and other key market players .

The global Emissions Management Market size is projected to reach USD 43.6 billion by 2031 from USD $10.4 billion in 2022, at a CAGR of 15.7% during the forecast period .The evolution of advanced emission control technologies such as catalytic converters, particulate filters, traps & adsorbers, and substrates are playing a crucial role in driving the growth of emissions management market.

According to Canadian Radio-Television and Telecommunications Commission (CRTC), the total revenues generated by telecom industry in Canada was USD 38.79 billion in 2017.

CRIFAX added a report on 'Emissions Management Market , 2022-2031 to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, region-wise growth analysis along with challenges that are affecting the growth of the market are also stated in the report.

The increasing number of innovations and advancements in technology globally has provided various business opportunities and is predicted to drive the growth of the market over the forecast period (2019-2028). The introduction of 5G accompanied by other technologies such as digital reality comprising of Augmented Reality (AR), Virtual Reality (VR) and Mixed Reality (MR) or the fast-growing Internet of Things (IoT) are setting new trends for the continuously evolving IT & Telecom industry. The total number of cellular IoT connections are anticipated to reach 3.4 billion by 2023. The global Emissions Management Market is estimated to attain noticeable growth over the next 6-7 years, owing to digital transformation taking place across several services such as R&D & Testing, Information Technology (IT), Telecom and Internet. The Information & Communication Technology (ICT) goods exports recorded a growth of 11.51% in 2017 as against 11.20% in 2016. Through 5G connection, about one billion enhanced mobile broadband subscriptions are anticipated to be covered by 2023.

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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country's goods and services deficit were $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

The global Product Information Management market is anticipated to observe noteworthy growth in the forthcoming years, owing to increasing investments by ICT and Telecom industries in research and development activities associated with digital transformation. The United States of America is anticipated to remain as the largest telecom market and Asia Pacific is anticipated to attain highest market share in telecom sector. World Development Indicators (WDI) has placed China at the top of the rankings among the various nations according to Purchasing Power Parity (PPP), which holds 19.38% of the world's GDP as of 2018. According to Canadian Radio-Television and Telecommunications Commission (CRTC), the Canadian telecom industry achieved a growth rate of 3.2% from 2016-2017 generating revenues of USD 38.79 billion in 2017, on account of improvement in data usage through both fixed internet as well as mobile services. Fixed internet services had an average growth rate of 7.0% by attaining revenues of USD 8.87 billion between 2016 and 2017, whereas mobile segment achieved a growth rate of 5.4% to garner revenues of USD 19.9 billion in 2017. All these factors are anticipated to drive the growth of the market over the forecast period.

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To provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the Emissions Management Market report. Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter's five force model, absolute $ opportunity and anticipated cost structure of the market.

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