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Energy Storage System Market to Reach $329.1 billion, Globally, by 2032 at 5.2% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Energy Storage System Market by Technology (Pumped Hydro Storage, Battery Energy Storage, Compressed Air Energy Storage, and Flywheel Energy Storage), Application (Stationary and Transport), and End-Use (Residential, Non Residential, and Utilities): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “energy storage system market” was valued at $198.8 billion in 2022, and is estimated to reach $329.1 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A280994
Prime determinants of energy storage system market growth
The global energy storage system market has experienced growth due to several factors such as renewable energy integration, regulator support & incentives, and decentralization & microgrids. However, lack of standardization and perception of risk hinder market growth. Moreover, investment in electric vehicle charging infrastructure, and rural electrification initiatives provides opportunities for expanding the energy storage system market.
Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2023

$198.8 billion

Market Size in 2032

$329.1 billion

CAGR

5.2 %

No. of Pages in Report

250

Segments Covered

Technology, Application, and End-Use.

Region Scope

North America, Europe, Asia-Pacific, and LAMEA

Country Scope

U.S., Canada, Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Australia; Brazil; Saudi Arabia; South Africa.

Drivers

Renewable energy integration
Regulatory support and incentives
Decentralization and microgrids

Opportunities

Electric vehicle charging infrastructure
Rural electrification initiatives

Restraints

Lack of standardization
Perception of risk

The flywheel energy storage segment is expected to grow faster throughout the forecast period.
By technology, the pumped hydro storage segment held the highest market share in 2022, accounting for more than four-fifths of energy storage system market revenue. It is estimated to maintain its leadership status throughout the forecast period The combination of reliability, efficiency, scalability, and cost-effectiveness has positioned pumped hydro storage as a dominant technology in the energy storage system market, particularly for grid-scale applications where long-duration storage and grid support services are critical. However, the flywheel energy storage segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032. The increase in innovation and development of medical devices for diagnosis in hospitals have led to an increase in the demand for flywheel energy storage devices which has a positive impact on the energy storage system market.
The stationary segment is expected to lead the trail by 2032
By application, the stationary segment held the highest market share in 2022, accounting for nearly four-fifths of the energy storage system market revenue, and is estimated to dominate during the forecast period.  Stationary energy storage systems command a significant market share due to their versatility, reliability, and broad applicability across various sectors. These systems offer a scalable solution for storing excess renewable energy, optimizing grid performance, and providing backup power during outages. With advancements in technology, such as lithium-ion batteries, stationary energy storage systems have become increasingly cost-effective and efficient, making them attractive for utilities, commercial enterprises, and residential consumers. However, the transport segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. The rapid growth of the transport energy storage system market is primarily fueled by the global shift towards electrification in the transportation sector. As governments, industries, and consumers increasingly prioritize sustainability and seek to reduce greenhouse gas emissions, there’s a growing demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs).
Procure Complete Report (250 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/energy-storage-system-market
The utilities segment dominates the market by 2032
By end-use, the utilities segment held the highest market share in 2022, accounting for more than four-fifths of the energy storage system market revenue, and is estimated to dominate during the forecast period. The high demand for energy storage systems in utilities’ end-use arises from the imperative to optimize grid operations, manage peak demand efficiently, integrate increasing levels of renewable energy sources, and enhance grid resilience. Utilities rely on energy storage to mitigate intermittency issues associated with renewables, ensuring a stable and reliable power supply.
However, residential segment is projected to manifest the highest CAGR of 6.0% from 2023 to 2032. The residential energy storage system market is experiencing rapid growth due to several key factors. Firstly, the increasing adoption of rooftop solar photovoltaic (PV) systems among homeowners has created a need for energy storage solutions to maximize self-consumption of solar energy and provide backup power during grid outages. Additionally, advancements in battery technology, coupled with decreasing costs, have made energy storage systems more accessible and affordable for residential consumers. This has spurred widespread interest and investment in residential energy storage solutions, ranging from lithium-ion batteries to emerging technologies like flow batteries and hydrogen storage.
The Asia-Pacific segment is expected to dominate the market by 2032
By region, Asia-Pacific held the highest market share in 2022, accounting for more than two-fifths of the energy storage system market revenue, and is estimated to dominate during the forecast period. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. The combination of growing energy demand, renewable energy deployment, supportive government policies, technological advancements, and a thriving supply chain is fueling the high demand and rapid growth of the energy storage system market in the Asia-Pacific region.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A280994
Leading Market Players: –

Scheider Electric
SMA Solar Technology AG
Exide Industries Ltd.
SK Holdings
Autobat
Enerbrax Acumuladores Ltda
Eguana Technologies
Imergy Power Systems
Ionotec Ltd
Tata Power

The report provides a detailed analysis of these key players in the energy storage system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Energy Storage System Industry:
Grid Scale Battery Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Solar Energy Storage Market: Analysis and Industry Forecast, 2021-2031
Thermal Energy Storage Market: Global Opportunity Analysis, 2020-2030
Hydrogen Energy Storage Market: Analysis and Industry Forecast, 2020-2027
Battery Storage Inverter Market: Analysis and Industry Forecast, 2023-2032
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
The post Energy Storage System Market to Reach $329.1 billion, Globally, by 2032 at 5.2% CAGR: Allied Market Research appeared first on HIPTHER Alerts.

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Smart Waste Management Market to Reach $8.3 billion by 2032 at 15.6% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Smart Waste Management Market Size, Share, Competitive Landscape and Trend Analysis Report by Waste Type (Solid, Special, and E-waste), Method (Smart Collection, Smart Processing, and Smart Disposal), and Source (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2032”. According to the report, the global smart waste management market was valued at $2.2 billion in 2023, and is projected to reach $8.3 billion by 2032, growing at a CAGR of 15.6% from 2024 to 2032.
Download Sample Copy: https://www.alliedmarketresearch.com/request-sample/A08740
Prime determinants of growth
The increasing adoption of smart waste management technologies across various industries will propel the market growth. Smart waste management technologies utilize sensors, data analytics, and automation to optimize waste collection schedules and routes. This reduces fuel consumption, minimizes emissions, and saves time and resources.
Efficient waste management contributes to a cleaner environment by reducing the amount of waste sent to landfills or incinerators. Smart technologies can help divert more waste towards recycling and composting, thus conserving natural resources and reducing pollution. Such factor drives market growth.
Report coverage & details:

Report Coverage 

Details 

Forecast Period 

2024–2032 

Base Year 

2023

Market Size in 2023

$2.2 billion 

Market Size in 2032 

$8.3 billion 

CAGR 

15.6 %

No. of Pages in Report 

188

Segments covered 

Waste Type, Method, Source, and Regions.

Drivers 

Rapid industrialization and infrastructure development
Growth in waste management industry 

Opportunities

Technological advancements 

Restraints

Volatile prices of raw materials

The solid waste segment was the highest contributor to the market in 2023, and e-waste segment is expected to grow at a significant CAGR during the forecast period.
By waste type, the smart waste management market is divided into solid waste, special waste, and e-waste. The solid waste segment accounted for a higher market share in 2023, accounting for more than half of the market revenue. Rapid industrialization and infrastructure development in emerging markets create new opportunities for smart waste management manufacturers. Smart waste management solutions offer significant cost savings and operational efficiency improvements compared to traditional waste management methods. By optimizing collection routes, reducing fuel consumption, and minimizing labor costs, organizations can achieve substantial savings over time.
Buy This Research Report 245 Pages PDF with Insights, Charts, Tables, Figures):  https://www.alliedmarketresearch.com/checkout-final/8096fa81b484fb332d3a539fdf65c12e
The smart collection segment dominated the market in 2023, and smart disposal segment is expected to grow at a significant CAGR during the forecast period.
Depending on method, the smart waste management market is categorized into smart collection, smart processing, and smart disposal. The smart collection segment is accounting for more than half of the market revenue. Smart waste management is used in residential, commercial, and other industries to collect and transport waste effectively. Smart waste management is used to track live status of unfilled and filled waste bins. Smart waste management system is also used to keep track of waste trucks. It tracks positions of waste trucks and sends the information to smartphones of individuals with the use of mobile apps. Smart waste management saves time and energy of waste management services by municipal corporation and industries, which is expected to drive growth of the global smart waste management market.
The residential segment dominated the market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on source, the smart waste management market is divided into residential, commercial, and industrial. The residential segment accounted for around half market share in terms of revenue in 2023. The residential segment has been witnessing an increase in demand for smart waste managements from past few years, owing to growth in urbanization and increase in smart city initiatives around the globe. In addition, rise in adoption of smart waste management in the residential sector is expected to increase in the future, owing to rise in water pollution levels in urban areas of countries such as India and China.
The Asia-Pacific region will grow at a significant CAGR during the forecast period.
The smart waste management market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. Asia-Pacific is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the smart waste management industry in the Asia-Pacific region. Advances in sensor technology, data analytics, cloud computing, and Internet of Things (IoT) have made smart waste management solutions more affordable and accessible. These technologies enable real-time monitoring, optimization, and automation of waste collection and recycling processes.
Inquire Before Buying:  https://www.alliedmarketresearch.com/purchase-enquiry/A08740
Leading Market Players: –

Covanta Holding Corporation
SUEZ Environmental Services
Republic Services Inc
Waste Management Inc
Sensoneo J.S.A.
Bigbelly Inc
Urbiotica
Ecube Labs Co Ltd
Enevo Oy

The report provides a detailed analysis of these key players in the smart waste management market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Recycling industry:
Underground Waste Containers Market is expected to reach $1,050.1 million in 2027
Waste Paper Management Market is projected to reach $96,087.9 million by 2031
Waste sorting robots market is projected to reach $10.1 billion by 2031
Water And Wastewater Valve Market is projected to reach $14.7 billion by 2032
Waste Management Equipment Market is projected to reach $55,637.9 million by 2027
Construction and Demolition Waste Recycling Market  is expected to reach $149,190.9 million by 2027
Waste Management Market is projected to reach $3498.2 billion by 2032
Pre-Book Now with 10% Discount:   
Waste Plastic Bricks Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
Waste Processing Technologies Market : Global Opportunity Analysis and Industry Forecast, 2023-2032
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Moldova fights to free itself from Russia’s AI-powered disinformation machine

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As Moldova prepares for an EU referendum and presidential election in October, it faces a relentless onslaught of disinformation, cyberattacks, and political corruption linked to the Kremlin.
In a bizarre incident at the end of 2023, President Maia Sandu, known for her pro-Western stance, was falsely depicted as banning a popular berry-infused tea in a video spread across social media platforms. The video, later revealed as a deepfake, falsely portrayed Sandu as mocking the country’s poor while purportedly banning the picking of rose hips to protect the environment.
The false narrative struck a chord in Moldova, where memories of Soviet-era hardships are still vivid. However, the video was a fabrication created by AI tools controlled by political adversaries with ties to Russia.
“This incident is part of Russia’s hybrid warfare against Moldova,” said Stanislav Secrieru, Sandu’s national security adviser.
Moldova, with its upcoming elections and strategic location bordering Ukraine, has become a battleground for disinformation campaigns, with concerns that ongoing interference from Moscow could escalate into a direct invasion.
The October elections, including a referendum on EU membership, are crucial for Moldova’s future alignment. Sandu, seeking reelection, advocates for closer ties with the EU, which already represents the country’s largest economic partner.
However, the Kremlin and its allies are actively opposing Moldova’s pro-Western agenda. Russian soldiers are present in Transnistria, while pro-Moscow politicians in Gagauzia seek Putin’s support.
Furthermore, pro-Kremlin parties, backed by figures like Ilan Shor, engage in election manipulation and cyberattacks targeting critical infrastructure.
Efforts to combat disinformation are hindered by the emergence of AI-powered bots spreading false narratives on social media platforms like Facebook. These bots amplify pro-Russian messages, undermining Sandu’s government and promoting Kremlin-aligned candidates.
Despite these challenges, Moldova is determined to defend its democratic institutions. Ana Revenco, heading the newly-formed Center for Strategic Communication and Combating Disinformation, acknowledges the complexity of the task but emphasizes the importance of countering Kremlin’s aggression.
As Moldova braces for intensified interference in the upcoming elections, the battle against disinformation and cyber threats remains a top priority, with the hope of safeguarding the country’s democratic future.
Source: politico.eu
 
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When grief and AI collide: These people are communicating with the dead

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Ana Schultz, a 25-year-old from Rock Falls, Illinois, finds solace in seeking cooking advice from her late husband Kyle, who passed away in February 2023.
Using Snapchat’s My AI feature, Schultz engages with an artificial intelligence chatbot powered by ChatGPT, tailored to resemble Kyle. She inputs the ingredients available in her fridge and receives culinary suggestions, a practice she describes as a means to feel Kyle’s presence in the kitchen.
While Snapchat My AI typically offers recommendations and engages in conversations with users, Schultz is among those utilizing this technology to recreate the likeness of and communicate with deceased loved ones.
This phenomenon isn’t entirely new, as people have long sought ways to reconnect with departed family members through mediums, spiritualists, or memory preservation services. However, the advent of AI introduces the possibility of simulating conversations and actions beyond what was possible before, prompting ethical considerations and discussions on its impact on the grieving process.
Mark Sample, a professor of digital studies at Davidson College, notes the novelty of using AI for such purposes, with ChatGPT making it more accessible for individuals to experiment with this concept.
Generative AI tools, employing algorithms to generate text, video, audio, or code, can attempt to replicate responses akin to those of deceased individuals. However, the accuracy of these interactions depends on the input data provided to the AI.
One user, a 49-year-old IT professional from Alabama, anonymously shares his experience of using generative AI to clone his late father’s voice, allowing him to convert text to speech. Despite initial moral reservations, he views this as a unique way to preserve his father’s memory.
Less technically complex methods also exist, such as customizing AI responses based on details provided by users. However, while AI models can mimic certain aspects of human conversation, they lack the nuanced authenticity of genuine interactions.
OpenAI, the company behind ChatGPT, continues to enhance its technology to offer more realistic and personalized interactions. Danielle Jacobson, a 38-year-old radio personality from Johannesburg, South Africa, uses ChatGPT’s voice feature to engage in conversations with a customized AI avatar named Cole, providing companionship following the loss of her husband.
Startups and tech giants alike have explored similar applications of AI technology. However, concerns regarding privacy, authenticity, and the impact on the grieving process remain prevalent.
While some individuals find comfort in digital interactions with deceased loved ones, others, like Bill Abney from San Francisco, prefer alternative methods of remembrance, avoiding AI-based recreations out of respect for the authenticity of their relationships.
Ultimately, the use of AI for communicating with the deceased presents a complex intersection of technology and grief, with individuals adopting various approaches based on their personal preferences and ethical considerations.
Source: edition.cnn.com

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