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trendingreportz · 6 months ago

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Next Generation Energy Storage Market - Forecast(2024 - 2030)

Next Generation Energy Storage Market Overview

The Next Generation Energy Storage market size is projected to reach $40.5 billion in 2030 at a CAGR of 9.18% during the forecast period 2024-2030. Energy storage is the pivotal technology that is reshaping the energy sector by enabling widespread deployment and grid integration of solar and wind renewables, to accommodate optimum levels of renewable energy. Therefore, to overcome intermittency and availability issues, various industrial sectors, such as Transportation, Oil and Gas, Mining, Electronics and others are adopting technological advances to improvise the economics of energy storage, which eventually propels the Next Generation Energy Storage Systems Market. Furthermore, research and innovation in energy storage is rapidly evolving due to the rise of decentralized and renewable energy solutions, emergence of energy conversion efficiency, cost effective technology, introduction of materials with low environmental and social impact and others are projected to foster the growth of the Next Generation Energy Storage Systems, dynamically.

Next Generation Energy Storage is witnessing significant advancements driven by innovations in battery technologies, grid-scale solutions, and sustainable power systems. One prominent trend is the development of high-capacity, long-life batteries capable of storing renewable energy efficiently. These batteries are crucial for balancing the intermittency of renewable sources like solar and wind power, thereby enhancing grid stability and reliability. Moreover, there is a growing focus on enhancing the sustainability and environmental footprint of energy storage solutions, with an emphasis on recycling and eco-friendly materials. Additionally, advancements in grid-scale energy storage technologies are enabling utilities to manage peak demand more effectively and optimize energy distribution networks. Another notable trend is the integration of energy storage systems with electric vehicle charging infrastructure, facilitating the widespread adoption of electric vehicles and promoting energy grid integration. Overall, the evolution of Next Generation Energy Storage is reshaping the energy landscape, offering sustainable solutions to address the challenges of modern power systems.

Next Generation Energy Storage Market Report Coverage

The report: “Next Generation Energy Storage Market – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Next Generation Energy Storage industry.

By Device: Ultracapacitors, Energy Grids, Batteries, Fuel Cells, Flywheels, Pumped Storage and Others.

By Application: Electronics, Oil and Gas, Transportation, Military, Marine, Mining, Manufacturing, Residential and Others.

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC (China, Japan India, South Korea, Australia & New Zealand, Indonesia, Malaysia, Taiwan and Others), South America (Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

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Key Takeaways

• The Next generation energy storage systems refers to the integration of renewable energy generation into the grid, for relatively large loads across periods extending up to the extended hours. The deployment of the innovative devices, such as Energy grids, Ultracapacitors, Batteries, along with the automation tools, such as smart inverters, physical sensors and advanced analytics are coordinating across a wider range of next-generation technologies.

• The rising grid expansion and promising investment in advanced infrastructure across Mining, Manufacturing, Oil and Gas, Electronics and other industrial sectors are estimated to drive the market. In addition, the introduction of regulations for green energy, and rising demand in the energy efficiency promote the Next generation energy storage systems market.

• The prominence of renewable energy investments by the major companies, including Beckett Energy Systems, Lockheed Martin Corporation, BYD Company Limited, FlexGen Power Systems and more, along with increasing electrification of the transport sector are denoting profitable opportunities for the growth of Next generation energy storage systems market in the forecast period.

Next Generation Energy Storage Market Segment Analysis – By Type

The market for Next Generation Energy Grid Energy Storage Systems is analysed to grow at highest CAGR of 10.9% during the forecast period 2024-2030. There are growing research and development in terms of electricity storage for applications, such as Grid support, Electricity supply, Ancillary services, Renewables integration and more is considered as a prime success factor in increasing the market prominence of energy storage technologies. Presently, the lithium-ion and lead-acid batteries are becoming popular for residential users, and sodium-sulphur and other breakthrough batteries are majorly deployed in commercial sectors. The leading companies such as Beckett Energy Systems, BYD Company Limited, Energ2, Inc., Enersys, Enphase Energy, FlexGen Power Systems, Lockheed Martin Corporation, S&C Electric Company, UniEnergy Technologies, LLC. And AES Corporation played a significant role to accelerate the Next Generation Energy Storage Systems Market growth through extensive research and developments activities for product innovation

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Next Generation Energy Storage Market Segment Analysis – By End Use Industry

Transportation dominated the recycled polyethylene terephthalate market in 2023 and is analyzed to grow at a CAGR of 10.77% during forecast period 2024 to 2030. The Electric vehicles are the solution for this problem. However, there are many challenges like the less availability of charging stations. To overcome and fix these issues, what we need is efficient next generation energy storage system for electric vehicles which can store more energy and in efficient manner, thus longer running time of vehicles with one time charging. The serious growing issue of climate change needs adoption of sustainable Transportation system. Because the way the demand of vehicles on road is increasing, and with the expected growth rate of usage of vehicles, the peak oil demand could be reached very soon. With this they are ideal for use in short-distance electric vehicles such as taxis, trams and buses where the capacity to charge it is the time it takes for passengers to exit and enter a vehicle. Now virtually all automakers are offering plan to offer or are already offering fully electric vehicles or at least hybrid models.

Next Generation Energy Storage Market Segment Analysis – By Geography

North America is analysed to be $ 8,490.98 Million in 2023, and is successfully contributing towards the growth of Next Generation Energy Storage Systems Market, and is also estimated to grow at a CAGR of 8.57% during 2024 to 2030. The Next Generation Energy Storage Systems Market is witnessing a significant growth in the U.S. due to the advent of the Solar PV and wind power technologies, both of which are recognised for their intermittent nature, and also account for a large portion of the renewable energy potential in the United States. The problem necessitates the development of more efficient battery energy storage devices. According to the U.S. Energy Information Administration by the end of 2022, operational utility-scale battery energy storage systems (BESSs) in the US had a total nameplate power capacity of 8,842 MW and a total energy capacity of 11,105 MWh. This has been aided significantly by price declines as well as strong governmental support at both the federal and state levels.

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Next Generation Energy Storage Market Drivers

Growing Demand for Renewable Energy

Government globally is focusing on the society’s commitments to cutting carbon emissions in lune with the goal which is set out in the Paris agreement and many are putting renewable energy at the center of their strategy to meet those rapidly approaching commitments. Lower-emissions electricity generation from sources such as wind and solar power are the main building blocks of the future energy mix considered essential to bring down countries’ carbon footprints. As their share of the generation grows, there is a growing opportunity and need for next generation storage systems such as battery grids to help balance demand and supply fluctuations and to better integrate large volume of variable renewable energy. Further, the next generation storage systems market is led by the US and China, and with the leadership in both countries committed to increasing the share of electricity coming from ‘clean’ sources, energy storage capacity between them will need to increase sevenfold by 2030 from 55GW in 2020.

As per the Macquaire Organization in August 2021, in China alone, which is the world’s biggest power market and the largest investment destination for renewables, wind and solar capacity is expected to increase eightfold by 2040. Apart from this, U.S’s new goal of cutting emissions by half by 2030 could more than quadruple ESS capacity by then from 23GW in 2020. The mix that the cost of wind, solar and energy storage have fallen dramatically in the past decade – by 77 per cent, 35 per cent, and 85 per cent respectively- and it also opens up the potential for considerable new demand for these storage systems. As these systems enable high shares of renewable energy integration into the grid and can help transform the whole energy sector. Utility-scale batteries, for example, can enable a greater feed-in of renewable energy into the grid by storing excess generation during times of energy over-production for later use. Hence the growing need for renewable energy sources is creating ample number of growth aspects for the next generation energy storage systems market during the forecast period of 2024-2030.

Rising Demand for Solid State Battery

Solid-state battery development aims for a next-generation energy storage systems with higher energy density, fast charging capability, lower cost, and greater safety.Solid-state batteries have many potential applications across multiple industries, such as automotive, consumer electronics, industrial, aerospace, etc. There are two distinct categories of solid-state batteries: solid-state batteries with a very small energy capacity, already commercially available from several suppliers, aimed at applications in consumer electronics, while the biggest drive is for large-energy capacity (“bulk”) solid-state batteries for electric and hybrid electric vehicles (EV/HEVs). Many battery and automotive manufacturers have already presented their target roadmaps for mass production to secure a leadership role in the solid-state battery market despite the remaining technology and supply chain challenges. For Instance: As per the EE Times (Europe) in September 2021, Toyota is planning mass production of solid-state batteries from 2025. QuantumScape and Panasonic are also planning mass production of solid-state batteries from 2025-2026, and Samsung SDI is working on solid-state batteries with mass production from 2027. In addition, many EV makers, such as Volkswagen, Hyundai, and BMW, have made investments in solid-state battery startups and are planning to launch their EVs with solid-state batteries in the coming years. For example, Volkswagen plans to launch its electric vehicles with solid-state batteries in about 2025, forging a partnership with startup QuantumScape.

With this they are ideal for use in short-distance electric vehicles such as taxis, trams and buses where the capacity to charge it is the time it takes for passengers to exit and enter a vehicle. Now virtually all automakers are offering plan to offer or are already offering fully electric vehicles or at least hybrid models. For Instance: In November 2019, Ford Unveiled its all Electric vehicle, which was part of company’s 11 Billion plan to make 40 all electric and hybrid models by 2022. Volkswagen as well has increased its electric vehicle goal to 70 new models by 2028 with the earlier target of 50. Such factors would positively influence the growth of the next generation energy storage systems market during the forecast period of 2024-2030.

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Next Generation Energy Storage Market Challenges

Security Issues Preying Utility Sector

Security aspect is impacting energy & utility sector with the cyberattacks. This factor is somewhere restricting the next-generation energy storage systems market growth. Power and utilities systems that connect organizations and homes are essential types of critical infrastructure. A recent study conducted by Fortinet shows that attacks against energy utilities are among the top three most targeted sectors for cyberattacks in the US. In addition, Europe, Australia, and Japan have reported an increase in threats against critical infrastructure. This threat is caused by modernization of OT networks that control critical infrastructure. As IT and OT networks converge, the “air gap” that OT systems once relied on for cybersecurity is eliminated. Without any utility cybersecurity measures in place, these critical infrastructures are left at risk. The risk of a successful cyberattack on critical infrastructure could be severe—damaged power grids could leave cities in the dark, or even put lives at risk. Also, Nowadays, the battery energy storage system (BESS) has become an important component of the electric grid. It can serve multiple services such as frequency regulation, voltage control, backup, black start, etc.

Next Generation Energy Storage Market Landscape

The Next Generation Energy Storage market is moderately consolidated with key players are adopting strategies such as acquisition, product launches and others with the players and companies prevalent in the market. The top companies present in the market include the below.

BYD Company Limited

Energ2, Inc.

Enersys

Enphase Energy

FlexGen Power Systems

Lockheed Martin Corporation

S&C Electric Company

AES Corporation

LG Energy Solution

NextEra Energy Inc.

Launches/Acquisitions

• In September 2023, EnerVenue introduces its latest Energy Storage Vessels™ (ESVs) with enhanced capacity, density, and power, offering unparalleled advantages over lithium-ion batteries for various clean energy applications. Backed by an extended warranty and large-scale deals, the next-generation ESVs mark a significant step in advancing stationary storage solutions.

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trendingrepots · 6 months ago

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Next Generation Energy Storage Market - Forecast (2024 - 2030)

The Next Generation Energy Storage market size in 2021 is estimated to be $18.5 billion and is projected to reach $34.9 billion in 2027 at a CAGR of 9.18% during the forecast period 2022-2027. Energy storage is the pivotal technology that is reshaping the energy sector by enabling widespread deployment and grid integration of solar and wind renewables, to accommodate optimum levels of renewable energy. Therefore, to overcome intermittency and availability issues, various industrial sectors, such as Transportation, Oil and Gas, Mining, Electronics and others are adopting technological advances to improvise the economics of energy storage, which eventually propels the Next Generation Energy Storage Systems Market. Furthermore, research and innovation in energy storage is rapidly evolving due to the rise of decentralized and renewable energy solutions, emergence of energy conversion efficiency, cost effective technology, introduction of materials with low environmental and social impact and others are projected to foster the growth of the Next Generation Energy Storage Systems, dynamically.

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Next Generation Energy Storage Market Report Coverage

The report: “Next Generation Energy Storage Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Next Generation Energy Storage industry.

By Device: Ultracapacitors, Energy Grids, Batteries, Fuel Cells, Flywheels, Pumped Storage and Others. By Application: Electronics, Oil and Gas, Transportation, Military, Marine, Mining, Manufacturing, Residential and Others. By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

Key Takeaways

The Next generation energy storage systems refers to the integration of renewable energy generation into the grid, for relatively large loads across periods extending up to the extended hours. The deployment of the innovative devices, such as Energy grids, Ultracapacitors, Batteries, along with the automation tools, such as smart inverters, physical sensors and advanced analytics are coordinating across a wider range of next-generation technologies.

The rising grid expansion and promising investment in advanced infrastructure across Mining, Manufacturing, Oil and Gas, Electronics and other industrial sectors are estimated to drive the market. In addition, the introduction of regulations for green energy, and rising demand in the energy efficiency promote the Next generation energy storage systems market.

The prominence of renewable energy investments by the major companies, including Beckett Energy Systems, Lockheed Martin Corporation, BYD Company Limited, FlexGen Power Systems and more, along with increasing electrification of the transport sector are denoting profitable opportunities for the growth of Next generation energy storage systems market in the forecast period.

Next Generation Energy Storage Market Segment Analysis – By Type

The market for Next Generation Energy Grid Energy Storage Systems is analysed to grow at highest CAGR of 10.9% during the forecast period 2022-2027. There are growing research and development in terms of electricity storage for applications, such as Grid support, Electricity supply, Ancillary services, Renewables integration and more is considered as a prime success factor in increasing the market prominence of energy storage technologies. Presently, the lithium-ion and lead-acid batteries are becoming popular for residential users, and sodium-sulphur and other breakthrough batteries are majorly deployed in commercial sectors. The leading companies such as Beckett Energy Systems, BYD Company Limited, Energ2, Inc., Enersys, Enphase Energy, FlexGen Power Systems, Lockheed Martin Corporation, S&C Electric Company, UniEnergy Technologies, LLC. And AES Corporation played a significant role to accelerate the Next Generation Energy Storage Systems Market growth through extensive research and developments activities for product innovation

Next Generation Energy Storage Market Segment Analysis – By End Use Industry

The Transportation is estimated to be $ 4669.99 Million in 2021 and is analyzed to grow at a CAGR of 10.77% during forecast period 2022 to 2027. The Electric vehicles are the solution for this problem. However, there are many challenges like the less availability of charging stations. To overcome and fix these issues, what we need is efficient next generation energy storage system for electric vehicles which can store more energy and in efficient manner, thus longer running time of vehicles with one time charging. The serious growing issue of climate change needs adoption of sustainable Transportation system. Because the way the demand of vehicles on road is increasing, and with the expected growth rate of usage of vehicles, the peak oil demand could be reached very soon. With this they are ideal for use in short-distance electric vehicles such as taxis, trams and buses where the capacity to charge it is the time it takes for passengers to exit and enter a vehicle. Now virtually all automakers are offering plan to offer or are already offering fully electric vehicles or at least hybrid models.

Researchers from Imperial College London and University College London (UCL) are working towards creation of low-cost, high-energy supercapacitors which can power electric vehicles, and they have produced cheaper energy-dense electrode which is more sustainable and energy efficient and can make the way for wider market of high-power and rapid vehicle charging. In November 2019, Ford Unveiled its all Electric vehicle, which was part of company’s 11 Billion plan to make 40 all electric and hybrid models by 2022. Volkswagen as well has increased its electric vehicle goal to 70 new models by 2028 with the earlier target of 50. In April 2021, BYD announced the launch of the Electric vehicles, the BYD’s sedan HAN EV with the Blade Batteries. The first batch of Electric vehicles launched across Mexico, Brazil, Uruguay, Columbia, Costa Rica, the Dominican Republic and the Bahamas. The e6 is equipped with the Blade Battery abd comes with a range of 605 kilometers with 100km/h acceleration.

#Next Generation Energy Storage market price #Next Generation Energy Storage market size #Next Generation Energy Storage market share

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amrutatbrc1 · 7 days ago

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Hydropower Plant Construction Market Report 2024-2033 | By Types, Applications, Regions And Players

The hydropower plant construction global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Hydropower Plant Construction Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The hydropower plant construction market size has grown strongly in recent years. It will grow from $18.30 billion in 2023 to $19.60 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rural electrification, government policies, environmental concerns, environmental concerns, water management.

The hydropower plant construction market size is expected to see strong growth in the next few years. It will grow to $24.51 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to renewable energy policies, climate change mitigation, grid modernization, energy storage integration, water resource management. Major trends in the forecast period include run-of-river installations, hybrid systems, repowering and upgrading, public-private partnerships, climate resilience.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/hydropower-plant-construction-global-market-report

The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers - The rising interest in clean energy is expected to propel the growth of the hydropower plant construction market in the coming years. Clean energy is energy obtained from sources that do not emit greenhouse gases, such as nuclear power, hydroelectric power, solar, geothermal, wind, and tidal energy. The rising adoption of clean energy is due to several factors, including the growing awareness of climate change and environmental degradation, improvements in energy storage, and grid integration capabilities. The construction of hydropower plants makes it easier to generate sustainable energy by leveraging the power of water's movement to generate electricity while releasing zero greenhouse emissions. For instance, in June 2023, according to the Energy Information Administration, a US-based principal government statistical system institution in charge of obtaining, assessing, and distributing energy data, the usage of renewable energy in the United States increased modestly to an all-time high of 13.2 quads in 2022, up from 12.1 quads in 2021. Therefore, the rising interest in clean energy is driving the hydropower plant construction market.

Market Trends - Major companies operating in the hydropower plant construction market are focusing on digitization and automation for hydropower plants to strengthen their position in the market. Digital solutions are a collection of devices and applications that use digital technology to meet particular company requirements, such as data analysis, data processing, and operations. For instance, in June 2022, Voith Group, a Germany-based company that constructs hydropower plants, in collaboration with Ray Sono AG, a Germany-based digital solution company, launched the Hydro Pocket, a cloud-based application designed to monitor, analyze, and optimize hydropower stations. Hydro Pocket is a smart, one-stop solution for small to medium-sized hydropower facilities that increases operator efficiency, flexibility, and security. The cloud-based tool handles the system data in a 'smart' way. Maintenance and repair planning is optimized, and problems or unexpected downtime can be eliminated because of the clear picture of assets and support in the form of sophisticated analytical techniques. As a consequence, system management is simplified while communication needs are lowered.

The hydropower plant construction market covered in this report is segmented –

1) By Type: Water Storage, Diverted, Pumped Storage 2) By Capacity: Large hydropower plants, Medium hydropower plants, Small hydropower plants, Other Capacities 3) By Application: City Power Supply, Industrial Power Supply, Military Power Supply, Other Applications

Get an inside scoop of the hydropower plant construction market, Request now for Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14397&type=smp

Regional Insights - Asia-Pacific was the largest region in the hydropower plant construction market in 2023. The regions covered in the hydropower plant construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the hydropower plant construction market are PowerChina Group, Bouygues Construction SA, Sinohydro Corporation, Vinci Construction, Siemens Energy AG, ABB Group, Duke Energy Corporation, Toshiba Corporation, China Three Gorges Corporation, Strabag SE, Statkraft AS, Skanska Group, Hydro-Québec, Verbund AG, Enel Green Power, Webuild SpA, Dongfang Electric Corporation, Andritz AG, Suez Group, RusHydro, SNC-Lavalin Group Inc., BC Hydro, Voith Group, GE Renewable Energy, Astaldi S.p.A., Bharat Heavy Electricals Limited (BHEL), Alstom SA, Innergex Renewable Energy Inc., Voimaosakeyhtiö SF

Table of Contents 1. Executive Summary 2. Hydropower Plant Construction Market Report Structure 3. Hydropower Plant Construction Market Trends And Strategies 4. Hydropower Plant Construction Market – Macro Economic Scenario 5. Hydropower Plant Construction Market Size And Growth ….. 27. Hydropower Plant Construction Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

Contact Us: The Business Research Company Europe: +44 207 1930 708 Asia: +91 88972 63534 Americas: +1 315 623 0293 Email: [email protected]

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govindhtech · 14 days ago

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Micron 6550 ION, The First E3.S 60TB Data Center NVMe SSD

A basic data center problem how to store more and accomplish more per rack has taken on new urgency as artificial intelligence (AI) datasets grow in size and importance.

Up until recently, the most common strategy for keeping up with peta-level builds and the next GPU generation was to increase SSD density. As shown until 2024, just doubling is unable to satisfy the unquenchable demand for high capacity SSDs with capacities more than 30TB.

World’s first E3.S 60TB SSD revolutionizes PCIe Gen5 rack density

The new Micron 6550 ION is the next big thing in exascale storage innovation, and it was designed from the ground up to maximize performance per terabyte (TB) per watt per rack for the top data centers in the world. In contrast to other 15mm U.2 60TB SSDs, the Micron 6550 ION, the first E3.S-1T 60TB data center SSD in the world, has a z-height of just 7.5mm Up to 40 drives per 2U (~2.5 petabytes [PB]) are made possible by this capability.

You can instantly appreciate the benefit of what is anticipated to be the most popular PCIe Gen5 form factor when you compare this to the customary 24 drives per 2U that most prior 60TB U.2 SSDs enabled (~1.5PB). You can store up to 67% more TB per rack because to this millimeter-level breakthrough in E3.S storage density. Additionally, 60TB E3.S SSDs provide greater flexibility than 120TB U.2 SSDs since they can store around 2.5PB of data per 2U (as opposed to 2.9PB on 120TB U.2), and they probably have up to three times the speed per TB at the chassis level.Image credit to Micron

World’s fastest and most energy-efficient 60TB SSD revolutionizes Gen5 scaling

There is, of course, more. The new Micron 6550 ION, the PCIe Gen5 replacement of the world’s best-selling PCIe Gen4 30TB NVMe SSD by unit volume, keeps pushing the limits of energy efficiency. The original Micron 6500 ION’s ability to give leading value by easily beating rival 30TB QLC SSDs while consuming 20% to 50% less power is one of the factors contributing to its ongoing popularity.

The device received several international invention awards, such as the 2023 International invention Award and the 2024 Edison Award for enhancing global AI scalability and sustainability, which may be attributed to its innovative design. This history is proudly carried on by the new Micron 6550 ION, which delivers best-in-class PCIe Gen5 read and write bandwidth in comparison to all competing 60TB SSDs whileutilizing the same 20W power profile on a better interface. Its innovation’s basic objective is to increase performance while using less electricity. Performance per TB per watt per rack may be enhanced in this way.

It’s faster, denser and greener

It has also increased the standard for sustainability. In addition to outperforming its 60TB rivals in terms of performance per watt, the Micron 6550 ION outperforms its direct PCIe Gen4 predecessor by 76% in terms of read bandwidth per watt (12 GB/s vs. 6.8 GB/s) and 60% in terms of 4KB random read input/output operations per second (IOPS) per watt (1.6 million vs. 1 million).

AI is not a technology that is often connected with sustainability on its own merits since, according to Goldman Sachs Research, data center power use is predicted to increase by 160% by 2030. However, the Micron 6550 ION offers environmental advantages equivalent to 1.8 million mature trees removing carbon dioxide from the atmosphere by allowing full-scale data centers with 100,000 servers to save 5W each drive (20W vs. 25W).

Where and how you store your data matters

In every significant data center memory and storage category, Micron is pleased to be the market leader. These include the best high-capacity DDR5 server DRAM, the most energy-efficient HBM3E, the best AI performance the SSD, and the most energy-efficient 60TB SSDs for networked AI data lakes. Micron places a high priority on efficiency at every stage of memory and storage in AI servers, which translates into reduced yearly power and cooling running costs and more environmentally responsible methods of maximizing the value of your data.

The Micron 6550 ION employs the cutting-edge Micron G8 TLC NAND, which is one to three generations ahead10 of comparable 60TB SSDs, with Micron legacy of leading NAND technology. This makes the drive intrinsically faster, denser, and greener. You need not accept less.

Top 5 features of the Micron 6550 ION SSD

Performance of the best 60TB SSD in its class

20% less electricity is used, improving energy efficiency and lowering yearly running expenses..

Industry-best endurance to extend the drive’s lifespan

60TB of industry-leading security to safeguard your data

The first 60TB E3.S form factor in the market, which allows for up to 67% more storage per rack.

Benefits of Micron 6550 ION

Performance of PCIe Gen5 at the highest level

The industry-leading high-capacity SSD performance required for AI applications is provided by the Micron 6550 ION SSD. It offers up to 179% greater performance than rival devices and up to 20% power savings with 12.0 GB/s sequential reads and 5.0 GB/s sequential writes at under 20 watts. It can write 61.44TB in 3.4 hours, up to 150% quicker than the competitors, because to its remarkable write capability.

Superior energy efficiency

Data center owners are particularly concerned about energy utilization, and the Micron 6550 ION SSD lowers SSD power consumption by up to 20%, which helps save energy expenses. The 6550 ION provides 213% and 179% greater sequential write and read bandwidth per watt, respectively. These advancements make it possible to devote more power to crucial parts like CPUs and GPUs in order to support AI’s demands.

Class-leading E3.S density

The first 60TB E3.S SSD, the Micron 6550 ION SSD, with over 1.2 petabytes per 1U system and industry-leading space efficiency. U.2-capable servers commonly feature 24 SSD slots in 2U, although E3.S-capable servers may have 20 in 1U. The Micron 6550 ION E3.S form factor offers a 67% density gain over these two versions.

Read more on govindhtech.com

#FirstE3S60TB #Micron6550ION #DataCenter #NVMeSSD #datacenterSSD #PCIeGen5 #Micron #datamatters #data #gen5 #ssd #artificialintelligence #technology #technews #news #govindhtech

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dh5ryxhgbctgr · 30 days ago

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India Thermal Energy Storage Market Assessment and Growth Projections 2024 - 2032

The India thermal energy storage (TES) market is emerging as a critical component in the country’s efforts to enhance energy efficiency, integrate renewable sources, and stabilize its power grid. This article provides an in-depth overview of the current landscape of the India thermal energy storage market, examining its key drivers, challenges, and future prospects.

Overview of the India Thermal Energy Storage Market

Current Market Landscape

Thermal energy storage systems store excess thermal energy for later use, helping to balance supply and demand in power generation and reducing peak load pressures. In India, the TES market is gaining traction as the country aims to meet its increasing energy demands while transitioning to a more sustainable energy mix.

Market Size and Growth

The India thermal energy storage market is projected to witness substantial growth, with an estimated compound annual growth rate (CAGR) of around 15% over the next five years. This growth is driven by rising energy consumption, the push for renewable energy integration, and government policies promoting energy efficiency.

Key Drivers of Market Growth

Rising Energy Demand

India's rapid urbanization and industrialization are leading to a surge in electricity consumption. As the population grows and the economy expands, the need for effective energy storage solutions becomes increasingly vital to ensure a stable and reliable power supply.

Integration of Renewable Energy Sources

The Indian government has set ambitious renewable energy targets, aiming to achieve 500 GW of renewable energy capacity by 2030. Thermal energy storage systems play a crucial role in integrating intermittent renewable sources, such as solar and wind, by storing excess energy produced during peak generation times for use during periods of high demand.

Government Initiatives and Policies

Supportive government policies and initiatives, such as the National Energy Storage Mission, are essential for fostering the development of thermal energy storage technologies. These initiatives aim to provide a framework for research, development, and deployment of energy storage systems across the country.

Major Players in the India Thermal Energy Storage Market

Key Companies

Tata Power: A leading player in India’s energy sector, Tata Power is actively involved in the development and implementation of thermal energy storage projects, focusing on integrating renewable energy sources.

Adani Green Energy: As one of the largest renewable energy companies in India, Adani is investing in thermal energy storage solutions to enhance the reliability of its renewable power generation.

Thermal Energy Storage Solutions (TESS): TESS specializes in developing and deploying innovative thermal storage technologies, catering to various sectors, including commercial and industrial applications.

Emerging Players

Several startups and emerging companies are entering the thermal energy storage market, focusing on innovative solutions. Companies like ReNew Power and Energy Vault are exploring new methodologies and technologies to enhance the efficiency and affordability of thermal energy storage systems.

Challenges Facing the India Thermal Energy Storage Market

High Initial Investment

One of the primary challenges for the thermal energy storage market in India is the high initial investment required for the development and deployment of TES systems. While the long-term benefits can justify these costs, the upfront financial burden can deter potential investors.

Technical Complexity

The technical complexity of designing and implementing thermal energy storage systems requires specialized knowledge and expertise. Ensuring that engineers and technicians are adequately trained in these technologies is essential for successful deployment and operation.

Regulatory and Policy Barriers

The India thermal energy storage market faces regulatory and policy challenges that can hinder growth. A clear and supportive regulatory framework is crucial to facilitate the adoption of thermal storage technologies and streamline the approval processes for projects.

Future Prospects of the India Thermal Energy Storage Market

Government Support and Investments

The Indian government is increasingly recognizing the importance of energy storage in achieving its renewable energy goals. Continued investments in TES infrastructure and supportive policies are expected to drive market growth in the coming years.

Technological Advancements

Ongoing advancements in thermal energy storage technologies, such as phase change materials (PCM) and innovative insulation methods, are likely to enhance the efficiency and cost-effectiveness of TES systems. These innovations will open up new opportunities in the market.

Expansion of Renewable Energy Projects

As India continues to expand its renewable energy capacity, the demand for thermal energy storage systems will grow. TES will play a vital role in balancing the grid and ensuring the reliability of renewable energy sources, facilitating a cleaner and more sustainable energy future.

Conclusion

The India thermal energy storage market is poised for significant growth, driven by increasing energy demand, the integration of renewable energy sources, and supportive government initiatives. While challenges such as high initial investment and regulatory hurdles exist, the future outlook for the market is promising. As India invests in thermal energy storage technologies and infrastructure, it will contribute to a more sustainable and efficient energy landscape, supporting the country’s long-term energy security and environmental goals.

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123567-9qaaq9 · 1 month ago

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Gas Separation Membrane Market, Key Players, Market Size, Future Outlook | BIS Research

Gas separation membranes are advanced materials designed to selectively separate gasses from mixtures, optimizing industrial processes. These membranes operate by allowing certain gasses to permeate through while blocking others, offering a highly efficient, energy-saving solution for various applications.

The global gas separation membrane market is projected to reach $3,275.5 million by 2034 from $1,300.0 million in 2023, growing at a CAGR of 8.66% during the forecast period 2024-2034.

Gas Separation Membrane Overview

The gas separation market is a rapidly growing sector driven by the increasing demand for purified gasses across a wide range of industries. Gas separation involves the process of isolating one or more gasses from a mixture, which is essential for industries such as petrochemical, healthcare, food and beverage, energy, and environmental management.

The rise in industrial gas usage for processes like hydrogen generation, carbon capture, and air separation further fuels market expansion. Additionally, the growing focus on sustainability, energy efficiency, and environmental regulations has intensified the demand for gas separation solutions in mitigating emissions and enhancing energy recovery processes.

Key Features for Gas Separation Membrane Market

Diverse Separation Technologies

Growing demand for industrial gasses

Expanding Energy Sector

Increasing Hydrogen Economy

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Market Drivers

Rising demand for Industrial Gases \

Global Shift towards clean energy

Increasing carbon capture and storage initiatives

Growth in Petrochemical Industry

Market Segmentation

By Application

By Material Type

By Module

By Region

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Key Companies

• Air Products and Chemicals, Inc.

• Greenlane Renewables

• UBE Corporation

• PARKER HANNIFIN CORP

• FUJIFILM Holdings America Corporation

• DIC Corporation

• GENERON

• Membrane Technology and Research, Inc.

Visit our Next Generation Wireless Connectivity Technology Vertical Page !

Recent Developments

In February 2023, Evonik Industries AG inaugurated a new plant dedicated to the production of gas separation membranes. This facility, strategically located in the Asia-Pacific region, aims to enhance the company’s capacity to meet the growing demand for advanced separation technologies in various industrial applications.

In November 2023, Air Products announced a significant milestone in its membrane solutions division, unveiling a new membrane-based nitrogen generation system. This innovation aims to enhance efficiency and sustainability in industrial nitrogen production.

In January 2023, Ube Industries, Ltd. announced a significant investment in expanding its production capacity for high-performance materials. This strategic move aims to meet the growing demand for advanced materials in various industries, including automotive and electronics. The expansion is set to enhance Ube Industries' ability to deliver cutting-edge solutions and strengthen its position in the global market.

Future of Gas Separation Membrane Market

The future of the gas separation membrane market holds promising growth prospects, driven by the increasing demand for efficient, cost-effective, and environmentally friendly gas separation technologies.

Key Trends Shaping the Future are as follows

Technological Advancements in membrane

Growth of Hydrogen Economy

Increasing demand for Carbon Capture Solutions

Sustainability and Eco Friendly Processes

Conclusion

In conclusion, the gas separation membrane market is poised for robust growth, driven by the increasing demand for energy-efficient, cost-effective, and environmentally sustainable gas separation technologies across diverse industries. Key factors such as advancements in membrane materials, the global shift towards clean energy (particularly hydrogen), and the rising need for carbon capture solutions are creating substantial opportunities for market expansion.

#Gas Separation Membrane Market #Gas Separation Membrane Report #Gas Separation Membrane Industry

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market-insider · 1 month ago

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Next Generation Memory Market Trends and Analysis: Comprehensive Overview of Market Size, Share, Growth

The global next generation memory market size is estimated to reach at USD 22.65 billion in 2030, and is projected to grow at a CAGR of 17.6% from 2024 to 2030. Next-generation memory represents an innovative category of computer memory technologies currently under development. These advancements are aimed at overcoming the limitations associated with traditional memory types like DRAM and NAND Flash. Their primary objective is to offer significant improvements in areas critical to business success, including speed, reliability, energy efficiency, and data storage capacity. Notably, these technologies often provide higher data storage density, allowing organizations to maximize data storage in smaller physical spaces.

Embracing these state-of-the-art solutions can confer a competitive advantage, enabling faster and more efficient data processing, which is an imperative in today's data-centric business landscape. Moreover, emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), and edge computing heavily rely on memory technologies that facilitate swift access to extensive datasets. These advancements play a pivotal role in facilitating the creation and deployment of cutting-edge applications and services, further driving business innovation.

Next Generation Memory Market Report Highlights

Next-generation memory is a crucial component in modern computing systems, data centers, mobile devices, and a wide range of other applications where fast and reliable data processing is essential

Based on technology, the volatile segment is projected to grow at the fastest CAGR over the forecast period

Based on wafer size, the 200 mm segment is projected to grow at the fastest CAGR of 18.5% over the forecast period

Based on application, the telecommunication segment is projected to grow at the fastest CAGR of 18.5% over the forecast period

For More Details or Sample Copy please visit link @: Next Generation Memory Market Report

The increasing demand for faster data processing directly results from the growing complexity of contemporary applications and workloads, which generate massive volumes of data. This surge in data intensity underscores the critical need for advanced memory technologies capable of seamlessly adapting to the ever-evolving demands of computing systems. Furthermore, with the continuous expansion of the user base for mobile devices and Internet of Things (IoT) applications, the spotlight has shifted firmly toward non-volatile and low-power memory solutions. These innovations are pivotal in ensuring energy efficiency and data preservation, two vital factors significantly influencing mobile devices and IoT systems' performance and durability.

The rapid growth of data centers, particularly within the thriving cloud computing sector, calls for memory solutions that precisely balance speed and energy efficiency. Moreover, the COVID-19 pandemic has notably impacted the next-gen memory market. While the demand for cutting-edge memory technologies continues to grow, primarily due to the growing requirement for rapid and efficient data processing in remote work setups, e-commerce, and digital services, the pandemic has caused disruptions in global supply chains and manufacturing processes. These disruptions have led to delays in producing and distributing critical components essential for developing next-gen memory solutions. This, in turn, has affected the availability and pricing of these components, posing challenges for the industry.

List of major companies in the Next Generation Memory Market

Samsung

Micron Technology, Inc.

Fujitsu

SK HYNIX INC

Honeywell International Inc.

Microchip Technology Inc

Everspin Technologies Inc

Infineon Technologies AG

Kingston Technology Europe Co LLP

KIOXIA Singapore Pte. Ltd

For Customized reports or Special Pricing please visit @: Next Generation Memory Market Analysis Report

We have segmented the global next generation memory market based on technology, wafer size, application, and region.

#NextGenerationMemory #MemoryTechnology #AdvancedMemorySolutions #NonVolatileMemory #EmergingMemoryTechnologies #3DMemory #MemoryChips #DataStorageSolutions #HighSpeedMemory #MemoryDevices #SemiconductorIndustry #DataProcessing #AIandMemory #ComputingHardwareMarket

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shubhampawrainfinium · 2 months ago

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Weaving Innovation: How Nanofibers Are Shaping Various Industries

The global nanofibers market is experiencing rapid growth, driven by advancements in materials science and increasing demand for nanotechnology applications across various industries. According to the report, the market is projected to grow at a compound annual growth rate (CAGR) of 21% over the forecast period of 2022-2028. The revenue generated by the nanofibers market was approximately USD 1.3 billion in 2022, and it is expected to reach nearly USD 4 billion by 2028.

What are Nanofibers?

Nanofibers are fibers with diameters in the nanometer range, typically less than 100 nanometers. Due to their small size, large surface area, and unique properties, nanofibers are used in a wide range of applications, including filtration, biomedical engineering, energy storage, and textile manufacturing. These materials can be fabricated from polymers, metals, ceramics, and carbon-based materials, offering high versatility for industrial and scientific purposes.

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Market Dynamics and Growth Drivers

Several factors are propelling the growth of the global nanofibers market:

Rising Demand for Advanced Filtration Systems: Nanofibers are widely used in filtration systems due to their high surface area, which enhances the efficiency of air and water filters. As environmental concerns grow, industries are increasingly adopting nanofiber-based filters to achieve better filtration results.

Biomedical Applications: In the healthcare sector, nanofibers play a critical role in wound healing, drug delivery, and tissue engineering. Their biocompatibility and ability to mimic the extracellular matrix make them ideal for medical applications, driving demand for nanofiber-based solutions.

Energy Storage: Nanofibers are used in the development of next-generation batteries and supercapacitors. Their conductivity and mechanical properties contribute to enhanced energy storage systems, which are crucial for renewable energy applications and electric vehicles (EVs).

Growth in the Textile Industry: The textile sector is increasingly utilizing nanofibers for smart fabrics, with applications in sportswear, protective clothing, and medical textiles. Nanofibers offer properties such as breathability, moisture control, and antimicrobial effects, making them valuable in performance-driven textiles.

Nanotechnology in Electronics: The use of nanofibers in electronics, especially in sensors and flexible electronics, is gaining traction. Their high electrical conductivity and flexibility make them suitable for developing advanced electronic components and wearable devices.

Regional Analysis

North America: The North American nanofibers market is driven by strong investments in research and development, particularly in the healthcare, energy, and filtration sectors. The U.S. is a major contributor to market growth, with increasing demand for advanced nanofiber technologies.

Europe: Europe is another significant market for nanofibers, particularly in sectors such as automotive, aerospace, and medical applications. Countries like Germany, the U.K., and France are leading the adoption of nanofibers in manufacturing and healthcare.

Asia-Pacific: The Asia-Pacific region is expected to witness the fastest growth in the nanofibers market. The expansion of industries such as textiles, electronics, and automotive in China, Japan, and South Korea is driving demand for nanofiber technologies. Additionally, the region's growing focus on environmental sustainability is boosting the use of nanofibers in filtration and energy storage.

Rest of the World: Latin America, the Middle East, and Africa are gradually adopting nanofibers, with increased focus on industrial filtration and medical applications.

Competitive Landscape

The global nanofibers market is highly competitive, with key players focusing on innovation and product development to cater to diverse applications. Leading companies in the market include:

Asahi Kasei Corporation: A major player in the nanofibers market, Asahi Kasei is involved in the production of high-performance nanofibers for filtration, healthcare, and other industries.

Teijin Limited: Known for its advanced materials, Teijin Limited is a significant player in the development of nanofiber-based products, particularly in the medical and energy sectors.

DuPont: A global leader in innovative materials, DuPont is actively developing nanofiber solutions for filtration, electronics, and other high-tech applications.

Toray Industries: Specializing in polymer nanofibers, Toray Industries is expanding its product portfolio to cater to growing demand in various industries, including automotive and healthcare.

Report Overview : https://www.infiniumglobalresearch.com/reports/global-nanofibers-market

Challenges and Opportunities

The nanofibers market faces several challenges, such as the high production costs associated with advanced nanofiber technologies. Additionally, scalability issues and the need for skilled professionals to handle nanomaterials are barriers to market expansion.

However, opportunities abound, especially in the fields of renewable energy, biomedical engineering, and smart textiles. Ongoing research and development are expected to lead to more cost-effective production methods and innovative applications, further driving market growth.

Conclusion

The global nanofibers market is on a robust growth trajectory, with diverse applications in filtration, healthcare, energy, textiles, and electronics. With a projected CAGR of 21% over the forecast period, the market is set to reach approximately USD 4 billion by 2028. As industries continue to adopt nanofiber technologies, innovations in materials science will play a pivotal role in shaping the future of this dynamic market.

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credenceresearchdotblog · 2 months ago

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The Industrial Battery Market is projected to grow from USD 20,505 million in 2024 to USD 42,504.12 million by 2032, reflecting a CAGR of 9.54% over the forecast period.The industrial battery market has become a vital segment within the global energy landscape, driven by increasing demand for energy storage, advancements in technology, and the shift towards renewable energy. Industrial batteries are widely used across industries such as manufacturing, transportation, telecommunications, energy, and utilities for a variety of applications, from power backup to energy storage in renewable energy systems. With the growing adoption of electric vehicles (EVs), grid energy storage solutions, and innovations in battery technology, the market is poised for substantial growth over the next decade.

Browse the full report at https://www.credenceresearch.com/report/industrial-battery-market

Market Overview

Industrial batteries are rechargeable energy storage systems designed for heavy-duty applications. They include several types, such as lead-acid batteries, lithium-ion batteries, nickel-cadmium (NiCd) batteries, and nickel-metal hydride (NiMH) batteries. Among these, lead-acid batteries have traditionally dominated the market due to their affordability and long-established use in industries like telecommunications, data centers, and industrial equipment.

However, lithium-ion batteries have gained significant traction in recent years due to their higher energy density, lighter weight, longer life cycle, and faster charging times. This shift is largely driven by the increasing demand for **electric vehicles (EVs)** and **grid energy storage** systems, both of which prioritize energy efficiency, sustainability, and cost-effectiveness.

Key Growth Drivers

1. Increasing Demand for Renewable Energy Integration The global push towards cleaner, more sustainable energy sources is a key driver for industrial battery demand. Renewable energy systems, particularly solar and wind, require efficient energy storage solutions to overcome intermittency issues. Industrial batteries, especially lithium-ion systems, have proven to be highly effective in storing excess energy generated during peak times and releasing it when demand increases. This capability makes them essential components in both grid-level and distributed energy storage systems.

2. Electric Vehicles (EVs) The rapid growth of the electric vehicle market is another significant factor driving demand for industrial batteries. As more automakers invest in EVs, there is a growing need for high-capacity, long-lasting batteries that can power these vehicles. Lithium-ion batteries have become the preferred choice due to their energy density and lightweight characteristics, making them ideal for EV applications. Moreover, governments worldwide are encouraging EV adoption through subsidies and incentives, further fueling battery demand.

3. Industrial Automation and IoT Growth The rise of **Industry 4.0**, which involves the integration of automation, data exchange, and the Internet of Things (IoT) in manufacturing and industrial processes, has also contributed to the growth of the industrial battery market. IoT-enabled devices and autonomous systems require reliable power sources for continuous operation. Industrial batteries, especially in uninterruptible power supply (UPS) systems, ensure smooth operations by providing backup power in case of outages or fluctuations.

4. Telecommunications Sector Expansion With the ongoing expansion of 5G networks and increasing demand for data services, the telecommunications sector has become another key consumer of industrial batteries. Telecom towers, data centers, and network infrastructure rely on backup power solutions to prevent disruptions. Lead-acid and lithium-ion batteries are commonly used in this sector due to their reliability and cost efficiency.

Challenges and Restraints

Despite the positive growth outlook, the industrial battery market faces several challenges:

- High Cost of Lithium-Ion Batteries While lithium-ion batteries offer superior performance, their high cost remains a barrier for widespread adoption, especially in cost-sensitive industries. The price of raw materials such as cobalt, nickel, and lithium, used in battery production, contributes to the overall expense, which can limit market growth. - Environmental Concerns and Recycling Issues The environmental impact of battery production and disposal, particularly lead-acid and lithium-ion batteries, is a growing concern. Improper disposal of these batteries can lead to hazardous waste and pollution. As a result, there is increasing pressure on manufacturers to adopt sustainable practices, including battery recycling and the development of eco-friendly alternatives.

Regional Market Insights

The Asia-Pacific region is the largest and fastest-growing market for industrial batteries, driven by the presence of leading manufacturers in China, Japan, and South Korea. The region is also a major hub for electric vehicle production and renewable energy projects, further boosting battery demand. North America and Europe follow, with increasing investments in EV infrastructure and renewable energy integration.

Future Outlook

The future of the industrial battery market looks promising, with continued advancements in battery technology expected to lower costs and improve performance. The shift towards renewable energy, combined with the rise of electric vehicles and industrial automation, will continue to drive demand for high-efficiency, long-lasting energy storage solutions.

Moreover, ongoing research into **solid-state batteries** and other next-generation technologies could revolutionize the market by offering even higher energy densities, enhanced safety features, and faster charging capabilities. As sustainability becomes a priority, battery recycling and eco-friendly materials will also play a critical role in shaping the future of the industry.

Key Player Analysis:

GS Yuasa Corporation

Exide Technologies

Saft Groupe S.A. (Total)

Enersys

Hitachi Chemical Company, Ltd.

C&D Technologies, Inc.

East Penn Manufacturing Company

Panasonic Corporation

Samsung SDI Co., Ltd.

LG Chem Ltd.

Segmentations:

By Type

Lithium-Based

Nickel-Based

Lead-Acid Based

Others

By Application

Electric Grid Storage

Industrial Equipment

Power Storages

Telecommunication

Others

By Geography

North America

The U.S

Canada

Mexico

Europe

Germany

France

The U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East and Africa

Browse the full report at https://www.credenceresearch.com/report/industrial-battery-market

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trendingreportz · 7 months ago

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Next Generation Energy Storage Market - Forecast(2024 - 2030)

Next Generation Energy Storage Market Overview

Next Generation Energy Storage Market Report Coverage

The report: “Next Generation Energy Storage Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Next Generation Energy Storage industry.

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Key Takeaways

Next Generation Energy Storage Market Segment Analysis – By Type

Inquiry Before Buying

Next Generation Energy Storage Market Segment Analysis – By End Use Industry

Next Generation Energy Storage Market Segment Analysis – By Geography

North America is analysed to be $ 7203.41 Million in 2021, and is successfully contributing towards the growth of Next Generation Energy Storage Systems Market, and is also estimated to grow at a CAGR of 8.57% during 2022 to 2027. The Next Generation Energy Storage Systems Market is witnessing a significant growth in the U.S. due to the advent of the Solar PV and wind power technologies, both of which are recognised for their intermittent nature, and lalso account for a large portion of the renewable energy potential in the United States. The problem necessitates the development of more efficient battery energy storage devices. According to a Wood Mackenzie and Energy Storage Association (ESA) research, 1,464 MW/3,487 MWh of additional storage was added in the United States in 2020, which is almost 180% more than the 523 MW added in 2019. This has been aided significantly by price declines as well as strong governmental support at both the federal and state levels.

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Next Generation Energy Storage Market Drivers

Growing Demand for Renewable Energy

Government globally are focusing on the society’s commitments to cutting carbon emissions in lune with the goal which is set out in the Paris agreement and many are putting renewable energy at the center of their strategy to meet those rapidly approaching commitments. Lower-emissions electricity generation from sources such as wind and solar power are the main building blocks of the future energy mix considered essential to bring down countries’ carbon footprints. As their share of the generation grows, there is a growing opportunity and need for next generation storage systems such as battery grids to help balance demand and supply fluctuations and to better integrate large volume of variable renewable energy. Further, the next generation storage systems market is led by the US and China, and with the leadership in both countries committed to increasing the share of electricity coming from ‘clean’ sources, energy storage capacity between them will need to increase sevenfold by 2030 from 55GW in 2020.

Rising Demand for Solid State Battery

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Next Generation Energy Storage Market Challenges

Security Issues Preying Utility Sector

Next Generation Energy Storage Market Landscape

Beckett Energy Systems

BYD Company Limited

Energ2, Inc.

Enersys

Enphase Energy

FlexGen Power Systems

Lockheed Martin Corporation

S&C Electric Company

UniEnergy Technologies, LLC

AES Corporation

Launches/Acquisitions

In December 2021, Lockheed Martin announced the collaboration with TC Energy’s Saddlebrook Solar + Storage Project, set to be constructed in Alberta, Canada, with GridStar Flow battery technology. Presently, the Saddlebrook Solar + Storage Project consist of a 102.5 MW solar facility with the help of bifacial modules, paired with a GridStar Flow battery energy storage system, of up to 6.5 MW/52 MWh in capacity. Therefore, Lockheed pilot the project and promote the largest flow battery energy storage facility in Alberta for sustainability and decarbonization efforts across the region

In December 2021, The AES Corporation acquired Community Energy Solar, LLC (Community Energy), the leading US solar developer. AES formed the acquisition of Community Energy, and signed PPAs to deliver 4 GW of renewables in the US. The acquisition is developed to bolster the AES future expansion endeavors with an excellent product pipeline as well as skilled development workforce.

#Next Generation Energy Storage Market #Next Generation Energy Storage Market Share #Next Generation Energy Storage Market Size #Next Generation Energy Storage Market Forecast #Next Generation Energy Storage Market Report #Next Generation Energy Storage Market Growth

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industrynewsupdates · 2 months ago

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Precision Farming Market Size, Trends, and Business Outlook 2024 - 2030

The global precision farming market size was valued at USD 10.50 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2030.

The growth of precision farming is attributed to the burgeoning proliferation of the Internet of Things (IoT) along with the use of advanced analytics by farmers. Advanced analytics is a part of data science that uses numerous tools and methods to forecast data and ensure that the crop and soil receive adequate nurturing. This helps farmers to plan their actions accordingly.

For a deep understanding of different farming aspects such as irrigation and plowing, numerous technologies such as IoT, GPS, and remote sensing application control are used. IoT helps farmers address various challenges involved in the proper monitoring of crops. It provides real-time data about environment temperature and water content in the soil through sensors placed on the farm, which assists farmers in making improved decisions about harvesting times, crop market rate, and soil management. This is one of the key factors contributing to the growth of the market for precision farming.

Gather more insights about the market drivers, restrains and growth of the Precision Farming Market

Precision Farming Market Report Highlights

• Increasing government support for adopting modern agricultural techniques and the growing need for efficiently monitoring the health of crops are expected to drive market growth

• The cloud-based software model is anticipated to gain a significant share of the market over the projected period as it reduces energy consumption and provides storage for a large amount of data while facilitating cost saving

• Innovations in GPS mapping and related farming applications are enabling farmers to operate more efficiently and increase their profit margin

• Demand for drones is expected to grow in the agriculture field as they are increasingly used to monitor irrigation systems

• Yield monitoring is expected to continue leading the application segment in terms of revenue share. It is widely used in soil monitoring since it detects soil qualities that may be used to increase yields

• The digital revolution in the agricultural sector, along with government financial incentives to farms, is likely to drive demand for precision farming in Europe in the forthcoming years

• Asia Pacific is expected to showcase the fastest growth owing to the availability of the largest agricultural land, which provides growth opportunities in countries such as China, India, Australia, and Japan

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• The global artificial intelligence in agriculture market size was valued at USD 1.91 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 25.5% from 2024 to 2030.

• The global industrial wireless sensor network market size was valued at USD 5.19 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of % from 2024 to 2030.

Precision Farming Market Segmentation

Grand View Research has segmented the global precision farming market report based on offering, application, and region.

Offering Outlook (Revenue, USD Million; 2017 - 2030)

• Hardware

o Automation & Control Systems

o Drones

o Application Control Devices

o Guidance System

o GPS

o GIS

o Remote Sensing

o Handheld

o Satellite Sensing

o Driverless Tractors

o Mobile Devices

o VRT

o Map-based

o Sensor-based

o Wireless Modules

o Bluetooth Technology

o Wi-Fi Technology

o Zigbee Technology

o RF Technology

o Sensing Devices

o Soil Sensor

o Nutrient Sensor

o Moisture Sensor

o Temperature Sensor

o Water Sensors

o Climate Sensors

o Others

o Antennas & Access Points

• Software

o Web-based

o Cloud-based

• Services

o System Integration & Consulting

o Maintenance & Support

o Managed Types

o Data Types

o Analytics Types

o Farm Operation Types

o Assisted Professional Types

o Supply Chain Management Types

o Climate Information Types

Application Outlook (Revenue, USD Million; 2017 - 2030)

• Yield Monitoring

o On-Farm

o Off-Farm

• Field Mapping

• Crop Scouting

• Weather Tracking & Forecasting

• Irrigation Management

• Inventory Management

• Farm Labor Management

Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o U.K.

o Germany

o France

o Russia

o Italy

• Asia Pacific

o China

o Japan

o India

o Australia

o Singapore

• South America

o Brazil

• Middle East and Africa (MEA)

Order a free sample PDF of the Precision Farming Market Intelligence Study, published by Grand View Research.

#Precision Farming Market #Precision Farming Market size #Precision Farming Market share #Precision Farming Market analysis #Precision Farming Industry

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amrutatbrc1 · 7 days ago

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Distributed Solar Power Generation Market 2024-2033 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies

The distributed solar power generation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Distributed Solar Power Generation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The distributed solar power generation market size has grown strongly in recent years. It will grow from $109.92 billion in 2023 to $119.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to government incentives and policies, environmental awareness, grid resilience and decentralization, reduced installation costs, energy independence.

The distributed solar power generation market size is expected to see rapid growth in the next few years. It will grow to $182.73 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to advancements in energy storage, smart grid integration, rising energy demand, global climate agreements. Major trends in the forecast period include technological advancements, innovative financing models, increased focus on energy equity, digitalization and IoT integration, hybrid renewable energy systems.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/distributed-solar-power-generation-global-market-report

The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers - The increasing demand for electricity and consumption is driving the growth of the distributed solar power generation market during the forecast period. Urbanization, industrialization, technological advancements, and changes in lifestyle habits are driving the need for electricity and its consumption. Distributed solar power generation reduces overall electricity demand from the grid by generating power on-site, offsetting the need for grid electricity during sunlight and alleviating strain on utility infrastructure. For instance, in June 2023, according to a report published by the Energy Institute (EI), a UK-based professional membership body for the energy sector, total global electricity generation experienced a 2.3% increase during 2022. Further, primary energy consumption in non-OECD (The Organization for Economic Co-operation and Development) countries surged by 20.5 EJ from pre-COVID levels, largely due to China's growth of 14.6 EJ, accounting for 72% of the rise. Therefore, the increasing demand for electricity is expected to propel the growth of the distributed solar power generation market.

Market Trends - Major companies operating in the distributed solar power generation market focus on developing technologically advanced products such as photovoltaic inverters to enhance efficiency, reliability, and integration capabilities, driving the growth and adoption of solar energy solutions worldwide. These solutions maximize the efficiency and performance of solar photovoltaic (PV) installations by ensuring that the electricity generated by solar panels can be effectively utilized by electrical appliances and fed into the grid. For instance, in November 2023, SOFARSOLAR Co., Ltd., a China-based manufacturer and provider of solar inverters and related equipment for distributed solar power generation, launched the PowerMega (350KTLX0), a 350 kW utility PV inverter explicitly designed to meet the demands of utility-scale projects in India and worldwide. This innovative inverter is meticulously engineered for optimal performance in utility solar applications. With a maximum efficiency of 99.05% even at high temperatures of up to 50 degrees Celsius, the PowerMega sets a new standard in the industry. It boasts ultra-high current integration, simplified installation, and intelligent protection mechanisms. With 8*60 A multiple Maximum Power Point Trackers (MPPTs), it accommodates high-power modules of 500Wp and above, ensuring lower Levelized Cost of Electricity (LCOE) and maximizing yields for end-users.

The distributed solar power generation market covered in this report is segmented –

1) By Technology: Concentrated Solar Power Systems, Photovoltaic Systems 2) By Solar Module: Polycrystalline, Amorphous Silicon Cells, Cadmium Telluride, Monocrystalline, Other Solar Modules 3) By End-User: Industrial, Residential, Commercial, Other End-Users

Get an inside scoop of the distributed solar power generation market, Request now for Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14333&type=smp

Regional Insights - Asia-Pacific was the largest region in the distributed solar power generation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distributed solar power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the distributed solar power generation market are TotalEnergies SE, Huawei Technologies Co. Ltd., Tesla Inc., General Electric Co., Siemens Energy AG, ABB Ltd., NextEra Energy Inc., Sharp Corporation, LONGi Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., JA Solar Holdings Co. Ltd., Canadian Solar Inc., Enel Green Power, Risen Energy Co. Ltd., Daqo New Energy Corp., Hanwha Q Cells Co. Ltd., Schneider Electric SE, SolarEdge Technologies Inc., First Solar Inc., Sunrun Inc., Enphase Energy Inc., Kyocera Corporation, SMA Solar Technology AG, SunPower Corporation, Suntech Power Holdings Co. Ltd., Vivint Solar Inc., Yingli Solar, Sharp Energy Solutions Corporation, SolarCity Corporation

Table of Contents 1. Executive Summary 2. Distributed Solar Power Generation Market Report Structure 3. Distributed Solar Power Generation Market Trends And Strategies 4. Distributed Solar Power Generation Market – Macro Economic Scenario 5. Distributed Solar Power Generation Market Size And Growth ….. 27. Distributed Solar Power Generation Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

Contact Us: The Business Research Company Europe: +44 207 1930 708 Asia: +91 88972 63534 Americas: +1 315 623 0293 Email: [email protected]

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govindhtech · 2 months ago

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AdLink I-Pi SMARC 1200 Plus DevKit With MediaTek Genio 1200

I-Pi SMARC 1200

AdLink I-Pi SMARC 1200 Plus DevKit, an octa-core MediaTek Genio 1200 processor-powered AI and graphics-focused solution. The octa-core Arm Cortex-A78 and Cortex-A55 CPUs in the Genio 1200 are paired with a 5-core Arm Mali-G57 GPU for cutting-edge 3D graphics and an embedded NPU that can handle up to 5 TOPS of edge AI data.

The on-device AI processing capabilities of the I-Pi SMARC 1200 include computer vision and deep learning neural network acceleration. Moreover, up to three MIPI camera inputs and several 4K displays are supported by the SMARC. For a variety of next-generation AI focused developments, including smart homes, industrial IoT, 3K multimedia apps, and human-machine interfaces, this is the go-to option. Product developers can explore new avenues and expedite proof of concept creation before production with the dev kit, which lowers costs and shortens time to market.

Pi SMARC 1200

MediaTek Genio 1200 platform

The Octa-core MediaTek MT8395 powering the LEC-MTK-I1200 module (Cortex-A78 x4 + A55 x4 in the arm)

The Smart Mobility Architecture, or SMARC Form Factor

SMARC 2.1 specification: a very small and power-efficient design appropriate for edge computing and embedded applications.

Due to its small size (82 x 80 mm), it is perfect for designs that need to save space, like industrial IoT systems, robotics, smart home appliances, and AI cameras.

All-encompassing Connectivity

Support for Bluetooth 5.2 and Wi-Fi 6 allows for fast wireless data transfer.

Support for optional 5G: Enables cellular high-speed connectivity for Internet of Things applications that need dependable network access.

Gigabit Ethernet: Quick connectivity for edge devices via wired networks.

Display and Graphics

Equipped with a Mali-G57 GPU, capable of encoding and decoding 4K60 HDR video.

There are several display interfaces available for connecting high-definition monitors and displays, including as HDMI, eDP, and MIPI DSI.

A Variety of I/O Interfaces

Peripheral connectivity via PCIe, USB 3.1, and I2C enables expansion with extra parts including cameras, sensors, and storage devices.

AI cameras can be connected via the MIPI CSI camera interface, which is helpful for robotics and smart surveillance applications.

AI & Machine Learning on the Edge

For real-time decision-making, the AI Processing Unit reduces dependency on cloud computing by enabling effective AI inferencing at the edge.

Perfect for jobs involving natural language processing, computer vision, and machine learning.

Stored Information and Memory

Supports high-speed memory operations with LPDDR4x RAM.

Sffers external SD card ports, UFS, and eMMC as storage options.

Low Power Need

It is appropriate for battery-powered IoT devices such as smart cameras, portable robotics, and IoT sensors because it was designed with energy efficiency in mind.

Uses in Industry

Suitable for industries where AI and IoT solutions are essential, such as smart manufacturing, smart cities, healthcare, and retail.

Creation and Personalization

Offers compatibility for Linux, Android, and other embedded operating systems together with a thriving software ecosystem.

Gives developers the ability to design unique apps and solutions for AI-powered Internet of Things gadgets.