The time-sensitive networking (TSN) market is expected to be worth $606.0 million by 2024, at a CAGR of 53.8% considering that it will get commercialized by 2019. The increasing adoption of Industrial IoT and Industry 4.0 and increasing need for real-time communication for various applications are the major drivers for the TSN market.
Automation systems have become the backbone of the industrial production system. Industrial or factory automation is a vast field that requires immaculate integration of machinery, software, and information systems. It is essential to achieve increased production of superior quality goods at lower cost with increased flexibility and high accuracy.
As organizations move increasing numbers of workloads to distributed, multicloud environments and adopt connectivity-dependent trends such as the Internet of Things, the simpler networks of yesterday have steadily morphed into something considerably more complex. It’s this growing complexity that is the ultimate enemy of effective security.
According to the new market research report “Serverless Architecture Market by Service type (Automation and Integration, Monitoring, API Management, Security, Support & Maintenance, and Training & Consulting), Deployment Model, Organization Size, Verticals, and Region – Global Forecast to 2023″, The serverless architecture market size is estimated to be $4.25 billion in 2018 and expected to reach $14.93 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.6% during the forecast period.
The global building automation system market grew 7% in 2018 to total ~ $35 billion, registering an upward spiral from ~ $33 billion in 2017, according to the new research study by Future Market Insights (FMI). Schneider Electric SE, ABB, Siemens AG, Johnson Controls Inc., and Honeywell International Inc. remain the top 5 players in the building automation market, commanding nearly 40% of the global market share.
The global Digital Oilfield Market is projected to grow from an estimated $24.1 billion in 2019 to $30.4 billion by 2024, at a CAGR of 4.77% from 2019 to 2024. The Digital Oilfield market is set to witness growth due to the increasing focus on optimization through digitization mostly in mature fields. New technological advancements, increased need from oil and gas operator to scale up production, and increased focus on the remote management of oil field for process optimization & automation are expected to be the key factors driving the digital oilfield market.
Customer relationship management application software includes applications for sales automation, automation of marketing and customer service and support management like email automation. There are different types of customer relationship management applications available through cloud delivery like social media management, activity and participant management and customer experience management. Customer relationship management application software are being increasingly used by the enterprises to increase their sales by retaining their customers and netting new customers.
The Global Retail Automation market is expected to register a global CAGR of 11.7% during 2017 – 2027, with North America, Western Europe, and APEJ accounting for significant market value shares by the end of the forecast period.
A building automation controls as well as monitors an establishment’s systems consisting of air conditioning, ventilation, heating, lighting, mechanical, flood and fire safety in addition to security.