Switchgear Market to Witness A Phenomenal Growth by 2027

 According to the new market research report "Switchgear Market by Insulation (Gas-insulated Switchgears, Air-insulated Switchgears), Installation (Indoor, Outdoor), Current (AC, DC), Voltage (Low (up to 1 kV), Medium (2–36 kV), High (Above 36 kV), End User and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Switchgear Market size is estimated to be USD 120.1 billion by 2027 (forecast year) from USD 90.9 billion in 2022 (estimated year), at a CAGR of 5.7% during the forecast period. The Switchgear Market, is expected to witness significant growth during the forecast period, owing to the strengthening of power distribution infrastructure, increase in renewable energy capacity addition, and increased investment in industrial production. However, emerging smart technologies and digitalization along with the growing usage of high-voltage direct systems will also drive the market for switchgear.

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Air-insulated switchgears is expected to occupy majority of the Switchgear Market share

Air-insulated switchgears segment, by insulation, is projected to hold the highest market share during the forecast period owing to the rising demand from the expanding distribution networks, industries, and commercial and residential sectors. AIS is a common type of low and medium-voltage switchgears. They are relatively cost-effective, pollution-free, and have simple construction compared to gas-insulated switchgears.

Browse in-depth TOC on "Switchgear Market"
152 – Tables
62 – Figures  
250 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html 

Medium voltage segment by voltage is expected to grow at the highest CAGR from 2022 to 2027

Based on the voltage, the medium (2–36 kV) voltage segment is estimated to be the fastest-growing market from 2020 to 2027. They are generally used in all end-user segments, particularly in the manufacturing and process industries and T&D utilities. They protect industrial equipment, such as generators, motors and compressors, HVAC & air conditioning, heating & lighting equipment, overload current protection, and T&D sub-stations. Diesel-electric locomotives are rapidly being replaced by electric or battery-electric locomotives to reduce emissions in the railways sector which is expected to drive the growth of the medium (2–36 kV) voltage Switchgear Market.

Asia Pacific likely to emerge as the largest Switchgear Market

Asia Pacific accounted for the largest share in the global Switchgear Market during the forecast period. The rapid industrial growth is expected to drive the market of switchgear in the region. Also, the growth of population in the region will expand the housing infrastructure. Major economies such as China, Japan, and India have set ambitious natural gas and solar & wind-based renewable power generation targets to diversify their energy mix in the coming years. Therefore, efforts are being taken across these countries to upgrade aging infrastructure to ease the integration of renewables in the national grid. Electrification is also being carried out rapidly in this region, especially in remote parts. This could be a driving factor for the growth of the switchgear in Asia Pacific.

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Schneider Electric (France), ABB (Switzerland), General Electric (US), and Eaton (Ireland), and Siemens (Germany), and are the key players in the global Switchgear Market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Switchgear Market to Witness an Outstanding Growth During 2020-2025

Global Switchgear Market Overview:

The recent switchgear market study, case studies on Covid-19 impact, offers insights into the current growth dynamics, major revenue reforms, and forecasts for 2020-2025.

The Switchgear Market report is a comprehensive documentation of the industry trends and aims to educate the readers about competitive scenario and regional business dynamics. The demand side of this market is characterized by its end-users such as T&D utilities, industries, commercial & residential, and others. The supply side is characterized by Original Equipment Manufacturers (OEM), raw material providers, and others.

According to the research report, the switchgear market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period.

Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the switchgear market, globally.

Key Market Players:

Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland)

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The air insulated switchgear segment is expected to dominate the switchgear market, by insulation type, during the forecast period.

Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries.

The indoor segment is expected to lead the switchgear market, by installation, during the forecast period.

An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.

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Asia Pacific likely to emerge as the largest switchgear market

The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the switchgear market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years.

Browse Related Reports:

Paralleling Switchgear Market by End-User (Industrial, Commercial), Application (Prime, Standby and Peak shave), Transition Type (Open Transition and Closed Transition), Voltage (Low Voltage and Medium Voltage), and Region - Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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newsletter@marketsandmarkets.com

Switchgear Market Report 2020-2025: Leading Players are Schneider Electric, Siemens AG, ABB, General Electric, Eaton

The global switchgear market is projected to reach USD 88.5 billion by 2025 from an estimated USD 67.5 billion in 2020, at a post COVID-19 CAGR of  5.5% during the forecast period. Replacement of aging power infeastructure along with growing investments in renewable energy is expected to drive the switchgear market. Furthermore, revival of investments in the construction sector is expected to further drive the demand for this product.

https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

The switchgear market has promising growth potential due to several factors, including the increased industrialization, increased population, growing demand for the replacement of aging infrastructure, and upgrdation of existing substation in emerging economies. The rapid industrialization in Asia Pacific especially in China and Southeast Asia has increased the opportunity for switchgear market growth.

Switchgear Market

The report segments the switchgear market, by voltage, into <1 kV, 1-36 kV, and >36 kV. The 1-36 kV segment of the switchgear market is expected to grow at the highest CAGR during the forecast period. Switchgears in the 1–36 kV voltage rating are referred to as medium-voltage switchgears and generally used across all end-user segments, particularly in the manufacturing and process industries and T&D utilities. The 1–36 kV switchgears can consist of equipment, such as circuit breakers, paralleling switchgear, ring main units, motor control centers, railway and marine switchgears, and surge arresters. The 1–36 kV switchgears are used for the protection of industrial equipment, such as generators, motors and compressors, HVAC and air-conditioning, heating and lighting equipment, overload current protection, and electric arc protection in T&D sub-stations. The increasing power distribution infrastructure in APAC, along with the rising commercial and residential infrastructure in North America and APAC is driving the demand for switchgears in this segment.

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The research report categorizes the switchgear market into the following segments and subsegments:

Based on Insulation

• AIS
• GIS

Based on the voltage:

• <1 kV
• 1-36 kV
• >36 kV

Based on the end-user:

• T&D Utilities
• Industries
• Commercial & Residential
• Ohers

By Region

• North America
• Asia Pacific
• South America
• Europe
• Middle East & Africa

The switchgear market, by installation, is categorized into indoor and outdoor. The indoor insulated switchgear segment is estimated to be the largest market for switchgear during the forecast. The indoor switchgear is commonly used in medium-voltage applications where the enclosure type is suitable for indoor environments. Most of the leading manufacturers of switchgears offer indoor type products for industries and commercial applications where the substations are installed at a medium voltage. Several industries, such as marine, oil & gas, mining, aviation, cement, aluminum, iron and steel, and automobile and chemical industries, use these solutions for power stability. An uninterrupted power supply is the key factor driving the demand for indoor switchgears.

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Europe is estimated to be the fastest growing market for switchgear during the forecast period. The European switchgear market, by country, has been segmented into the UK, Germany, France, Russia, and the Rest of Europe. The European power generation, transmission, and distribution systems are comparatively mature. Therefore, the European Union (EU) is focusing on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable more efficient power and energy trading. This would also require the replacement of the switchgear from electromechanical to digital which will propel the demand for switchgear.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Switchgear Market 2020: key players, growth and demand drivers to 2025

According to the new market research report "Switchgear Market by Insulation (Gas Insulated, Air Insulated), By Installation (Indoor, Outdoor) By End-Users (T&D Utilities, Industries, Commercial & Residential, Others), By Voltage (Low, Medium, High), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Switchgear Market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period. Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the Switchgear Market, globally.

Download PDF Brochure:
 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1162268


The air insulated switchgear segment is expected to dominate the Switchgear Market, by insulation type, during the forecast period.


Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries.


Browse in-depth TOC on "Switchgear Market"
74 – Tables
41 – Figures  
201 – Pages


View Detailed Table of Content Here:
https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html


The indoor segment is expected to lead the Switchgear Market, by installation, during the forecast period.


An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.


Asia Pacific likely to emerge as the largest Switchgear Market


The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the Switchgear Market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years. Some of the key players are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), GE (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their share in the Switchgear Market.


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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Switchgear Market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their shares in the Switchgear Market.


About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.


Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.


MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

Switchgear Market Is Seeing Explosive Growth By Future Industry Winners: Global Forecast

The switchgear market is expected to grow from an estimated USD 88.71 Billion in 2017 to USD 125.10 Billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth of construction and developmental activities, increasing access to electricity, and growth of renewable power generation projects.

Market Ecosystem:

The switchgear ecosystem comprises equipment manufacturers, such as, ABB, Ltd. (Switzerland), General Electric Company (US), Schneider Electric SE (France), EATON CORPORATION plc (Ireland), Siemens AG (Germany), Larsen & Toubro, Ltd. (India), Alstom SA (France), Hitachi, Ltd. (Japan), CG Power and Industrial Solutions Limited (India), Efacec Power Solutions – S.G.P.S. S.A. (Portugal), ELEKTROBUDOWA SA GROUP (Poland), Hawker Siddeley Switchgear Ltd. (UK), Hyosung Corporation (South Korea), Mitsubishi Electric Corporation (Japan), and Toshiba Corporation (Japan) among others.

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The transmission and distribution utilities segment is expected to hold the largest share of the switchgear market, by end-user, during the forecast period.

The transmission and distribution utilities sub-segment of the end-user segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the switchgear market during the forecast period.

The gas insulated switchgear is expected to hold the largest share of the switchgear market, by equipment, during the forecast period.

The gas insulated switchgear sub-segment of the equipment segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the switchgear market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the switchgear market, based on the equipment segment.

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North America: The leading market for switchgear

In this report, the switchgear market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle-East and Africa, and South America. The market in Asia Pacific led the global switchgear market in 2016. Increasing grid investments especially in developing economies, such as China and India and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines are expected to drive the switchgear market in Asia Pacific. Indonesia aims to achieve 90% electrification rate by 2025 and the countries, such as the Philippines and Malaysia have similar plans. Rise in investments in smart grid technologies including distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the switchgear market in the Asia Pacific region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com  

Switchgear Market Emerging Trend to Build Growth at a 7.12% CAGR from 2017 to 2022

According to the market report published by MarketsandMarkets™, "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022", The switchgear market is expected to grow from an estimated USD 88.71 Billion in 2017 to USD 125.10 Billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth of construction and developmental activities, increasing access to electricity, and growth of renewable power generation projects.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

                        

The transmission and distribution utilities segment is expected to hold the largest share of the switchgear market, by end-user, during the forecast period.

The transmission and distribution utilities sub-segment of the end-user segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the switchgear market during the forecast period.

Browse and in-depth TOC on “Switchgear Market"

68 - Tables

51 - Figures

144 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1162268

The gas insulated switchgear is expected to hold the largest share of the switchgear market, by equipment, during the forecast period.

The gas insulated switchgear sub-segment of the equipment segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the switchgear market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the switchgear market, based on the equipment segment.

North America: The leading market for switchgear

In this report, the switchgear market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle-East and Africa, and South America. The market in Asia Pacific led the global switchgear market in 2016. Increasing grid investments especially in developing economies, such as China and India and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines are expected to drive the switchgear market in Asia Pacific. Indonesia aims to achieve 90% electrification rate by 2025 and the countries, such as the Philippines and Malaysia have similar plans. Rise in investments in smart grid technologies including distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the switchgear market in the Asia Pacific region.

Request Sample Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1162268

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the switchgear market. The key players include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), Hitachi Ltd. (Japan), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others. The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com