Thermal Management Technologies Market Analysis, Size, Growth, Share & Forecast to 2024 | Grand View Research Inc.
“Thermal Management Technologies Market Worth $20.14 Billion By 2024�
The global thermal management technologies market size is expected to reach USD 20.14 billion by 2024, according to a new report by Grand View Research, Inc. The industry is primarily driven by the growth in the emerging trend of miniaturization of electronic devices and components. Developments in the electronics industry have culminated in a considerable surge in the power densities, which have led to the introduction of smaller, smarter products. These advancements in the industry have led to an increased need for innovative thermal management technologies as they improve the system performance and reliability by avoiding the heat generated by the devices. The electronic packaging trend has increased the performance and reduced the size of the product. This has led to a significant increase in the power consumption of the system. Advanced technological research is expected to produce more efficient and cost-effective thermal management solutions in the future. The key industry participants are extensively focusing on the development of optimized thermal management solutions that are cost-effective and are applicable across a range of enduse applications. However, the industry is anticipated to witness various issues associated with modularity in designing and reliability of modeling, which are presumed to challenge the growth over the forecast period.
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Further key findings from the report suggest: • Stringent regulations as defined by the Network Equipment Building Systems (NEBS) and the European Telecommunications Standards Institute (ETSI) require telecommunication industry organizations to comply with certain thermal management industry standards •
Current cooling technologies, standard heat sinks, and fans are rapidly approaching their cooling capacity limit, and thermal management is becoming a critical step in enabling enhanced product functionality
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The thermal management software is anticipated to exhibit a significant growth in the near future owing to the increasing adoption of the software heat removal techniques and simulations to reduce moments of peak heat impact and reduce the risk of failure. The segment was valued a little over USD 700 million in 2015.
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The application of thermal management technologies in consumer electronics is expected to grow at a significant rate over the next eight years. The growth can be accredited to the emerging electronic packaging trend to reduce the size of electronic components and increase the performance of consumer electronic products, leading to the growth in the power consumption of the system.
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North America accounted for close to 35% of the global market share in 2015 and is expected to remain one of the key revenue-generating regions over the forecast period. The steady escalation in the use of heat dissipation solutions in organizations is projected to impact the regional industry growth favorably.
Table of Contents Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions 1.3 List of Data Sources Chapter 2 Executive Summary Chapter 3 Market Snapshot 3.1 Thermal management technologies - Market snapshot &key buying criteria, 2014 - 2024 Chapter 4 Thermal Management Technologies Industry Outlook 4.1 Market segmentation 4.2 Thermal management technologies - Market size and growth prospects 4.3 Thermal management technologies - Value chain analysis 4.3.1 Key value addition processes across the supply chain 4.4 Market Dynamics 4.4.1 Market driver analysis
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4.4.1.1 Thermal management technology proliferation 4.4.1.2 Increase in vehicle energy efficiency and performance, and reduction in costs 4.4.1.3 Reduction of energy loads in heavy-duty vehicles 4.4.1.4 Improvement in vehicle range and thermal comfort 4.4.2 Market restraint analysis 4.4.2.1 Component level technological challenges 4.4.2.2 System level technological challenges 4.4.2.3 Reliability of modeling 4.4.2.4 Modularity 4.4.2.5 Multidisciplinary design 4.5 Industry Analysis - Porter’s 4.6 Penetration &growth prospect mapping 4.7 Thermal management technologies - PESTEL analysis Chapter 5 Thermal Management Technologies Product Outlook 5.1 Thermal management technologies market share by product, 2015 & 2024 5.2 Hardware 5.3 Software 5.4 Interface 5.5 Substrate Continue…………………. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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