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Blackbaud Showcases the Future of AI-Powered Fundraising and Financial Management for Social Impact Organizations at bbcon 2024

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Product Updates Build Connection Between Solutions and Teams While Delivering Contextual Intelligence—All to Help Social Impact Organizations Raise More, Save More and Work Smarter

CHARLESTON, S.C., Sept. 24, 2024 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today kicked off its annual technology conference, bbcon, announcing a wide range of innovation shaping the future of social impact technology.

“Our 40-plus years of expertise in this space and unwavering focus help us drive innovation that empowers our customers to achieve their missions,” said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud. “We are transforming the way social impact organizations operate, giving back time and improving data-backed decision making. With cutting edge technology, thousands of customers—from nonprofits, to schools, foundations, companies and more—are amplifying their impact across communities and around the world. We’re proud to be the chosen partner of so many incredible organizations, and we’re committed to continue delivering for them.”

Innovation to Fuel Impact
Blackbaud unveiled a range of product updates and enhancements aimed at connecting workflows and teams to free up time and provide users the insight they need to deliver their best results, without guesswork.

The Future of Blackbaud Raiser’s Edge NXT®
Blackbaud shared its plans and progress for the next generation of its market-leading fundraising software, building on its commitment to roll out a reimagined user experience with all critical-end-to-end workflows and enhanced functionality in a single, unified view by the end of 2025. Key updates include:

A new navigation, making it easier and more intuitive for both fundraising and finance users to quickly find what they need among an expanded array of menu options.A common records engine for K-12 school fundraisers launching this year that will provide a complete picture of donors by connecting data across the entire school community.New donor recognition program management capabilities, coming in 2025, to automatically tie gifts to these programs for deeper donor engagement.

Intelligence for Good®: AI Built for Social Impact
Blackbaud is building AI that delivers fundraising performance, benchmarking and forecasting directly in-product, providing social impact professionals with insights connected to their business data and built on Blackbaud’s 40 years of sector leadership. Planned AI advancements include:

Blackbaud Copilot, an AI-powered coach and assistant that allows users to interact with their data in natural language, ask questions, and gain insights. Copilot is already embedded in Blackbaud Impact Edge™, and a technical preview in both Raiser’s Edge NXT and Financial Edge NXT® is planned for 2025 to help fundraisers understand, plan for and engage with high priority donors and prospects, and to help simplify fund accounting by combining automation and personalization.New performance insights to help organizations see how they stack up against others, based on Blackbaud’s rich benchmarking data.New tools for education customers, like an Award Cycle Manager within Blackbaud Award Management™ to give scholarship administrators a centralized view and KPIs, and an “at-risk” student tool for Blackbaud’s K-12 Education Management portfolio to help teachers identify students in need of extra support by consolidating data on attendance, test scores and work completion.

Accelerated Giving to Raise and Save More
Blackbaud continues to innovate across its integrated payments experiences to help organizations raise more and save more so that they can invest in their missions. Exciting updates include:

A wider global roll out of Blackbaud’s Optimized and Standard Donation Forms, proven to increase conversion rates, including the recent addition of the Intelligent Ask feature powered by Blackbaud AI, which ensures fundraisers target the right gift amount for each donor.Tap-to-pay capabilities that will allow supporters to tap their card on a mobile device to donate, pay entry fees or buy swag.The extension of Blackbaud’s Complete Cover offering—the social impact sector’s only solution with guaranteed 0% processing fees—to an initial set of partners, including Trellis for auctions and events and Almabase for higher education giving days.

Connected Financial Management
Blackbaud is connecting workflows throughout the finance office. The company will deliver 100% of core Financial Edge NXT capabilities in a unified view in Q1 of 2025, including new and improved Query and reconciliation functionality. Additional enhancements include:

Automated invoice scanning using Microsoft AI Document Intelligence to automate the entire payables process from start to finish directly in Financial Edge NXT.Payment Assistant for fully automated bill pay in Financial Edge NXT, helping customers to save hours a week with auto-reconciliation of payment assistant transactions, to reduce processing costs and to benefit from robust, built-in fraud protection.Deeper integration between Raiser’s Edge NXT and Financial Edge NXT to connect workflows from donation through disbursement with fewer manual steps, making it easier and faster to let donors know what their gifts paid for and when.Financial Edge NXT integration with Blackbaud Grantmaking™, connecting departments and surfacing the right financial data at the right time.

Extensibility and Flexibility
Blackbaud is combining the power of purpose-built software designed specifically for the business operations of social impact with platform-level flexibility to enable endless possibilities. The company is delivering more plug-and-play apps, system integrators and consulting services in the Blackbaud Marketplace, plus:

New partner integrations, including the connection of Blackbaud Education Management with UBIQ Education and BrightArrow, enabling K12 schools to power best-in-class school websites, connect their data, leverage marketing capabilities to drive enrollment, and give faculty access to mass communication functionality for all their classes, teams, advisories and more.The expansion of Red Arc’s existing integration for Raiser’s Edge NXT to Blackbaud CRM™ cloud-hosted customers, to directly connect their preferred digital marketing solutions, like Constant Contact, Mailchimp, HubSpot or Salesforce Marketing Cloud, to their CRM.New SKY Add-ins™ for both low-code and pro-code developers to create hyper-specific solutions and access partner solutions without ever leaving Blackbaud software. Six new Microsoft Power Platform-certified connectors offering more flexibility, plus added low-code tools for Blackbaud CRM that have already been popular in Raiser’s Edge NXT for embedding power automate workflows, power apps, adaptive cards and Power BI extensions.

Happening at bbcon 2024
bbcon 2024 is taking place this week in Seattle, welcoming thousands of social impact professionals for three days of unmatched networking, the latest in industry trends and inspiring keynotes. The agenda features a day-two keynote conversation with Emmy® award-winning actress and nonprofit founder Sheryl Lee Ralph, as well as a day-three appearance by Dr. Alex George, a bestselling author and podcaster focused on resilience and mental wellness. As the presenting sponsor, Microsoft will deliver several sessions on how nonprofits can use AI with their data to drive mission success around fundraising and campaign planning.

Mainstage sessions can be livestreamed for free through the bbcon virtual pass, with replay content available on demand beginning October 15. Visit bbconference.com for more information, and for more details on Blackbaud’s product roadmap, register to attend the Blackbaud Product Update Briefings, happening Nov. 12-14.

About Blackbaud
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud’s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud’s solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek’s list of America’s Most Responsible Companies, Quartz’s list of Best Companies for Remote Workers, and Forbes’ list of America’s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.

Media Inquiries
media@blackbaud.com

Forward-looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

 

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Technology

The Radio Market is projected to grow by USD 8.47 Billion from 2024-2028, with AI-driven transformations enhancing access to music and live updates – Technavio

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NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global radio market size is estimated to grow by USD 8.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3%  during the forecast period. Access to latest music and live updates is driving market growth, with a trend towards online radio services  However, availability of music streaming services  poses a challenge – Key market players include Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Radio Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2024-2028

USD 8479.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.91

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key countries

US, UK, Germany, China, and Japan

Key companies profiled

Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc.

Market Driver

Online radio streaming is a popular way to access radio content, with many vendors offering their services over the Internet. Some radio channels have merged with streaming portals, providing listeners with the flexibility to choose between live radio and on-demand music. Vendors like Pandora and Apple Music offer both services. The growing Internet penetration and mobile Internet availability are driving the demand for Internet radio, positively impacting the global radio market during the forecast period. 

[Background music playing softly in the background] Narrator (enthusiastically): “Hello and welcome to this week’s edition of Radio Market! Today, we’re diving into the latest trends shaping the radio industry. First up, mobile radios are on the rise, with interoperability ensuring seamless communication for terrestrial users. Digital technology brings US hand-held devices, like walkie talkies, offering group chats, enhanced voice quality, longer battery life, and budget-friendly prices. Advancements include breakthroughs in frequency ranges, allowing for higher quality audio and priority access. In the commercial sector, Cryptomania radio and Triton Digital lead the way, while military modernization embraces digital capabilities for trunking, digital capabilities, group calling, and rapid voice transmission. In the transportation and utility sectors, smart radios offer superior range accessibility. IHeartMedia in Athens, Greece, is testing analog voice with two-way communications, while digital technology continues to revolutionize radio communications. Stay tuned for more Radio Market updates!”

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Market Challenges

Music streaming services, including Amazon Music, Google Play Music, and Deezer, have emerged as significant competitors in the radio industry. With growing popularity and competitive pricing, an increasing number of listeners are opting for online music streaming instead of traditional radio. Many music streaming applications are accessible for free online, enabling users to play their preferred tracks. The proliferation of mobile Internet penetration allows listeners to access and download music on their mobile devices, offering convenience and flexibility. Music streaming platforms provide an extensive range of music genres and tracks, posing a challenge to the global radio market in the forecast period.[Background Music Playing] Narrator (Voiceover): “Welcome listeners to Cryptomania Radio, where we bring you the latest business news. Today, we’re discussing the challenges facing the radio industry, particularly in the areas of public safety communications. With the rise of digital capabilities in radio, players like Triton Digital and iHeartMedia are investing heavily in smart radio solutions. Military modernization and the need for real-time communication in the face of crime, terrorism, and natural disasters, have pushed the demand for high-quality audio, priority access, and effective response systems. Traditional analog voice systems are being replaced with two-way communications, trunking, and group calling. New technologies like rapid voice and site trunking are becoming essential for public safety agencies. However, these demands come with challenges such as spectrum efficiency, harmonized spectrum, and security threats. Cross-agency coordination and information sharing are also major factors. Vendor offerings, research methodologies, and interface manufacturers are key players in this market. The micromarkets for these solutions show individual growth trends, with joint ventures and research and development driving innovation. Stay tuned for more insights on Cryptomania Radio.”

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Segment Overview 

This radio market report extensively covers market segmentation by

Type 1.1 Broadcast radio1.2 Online mobile radio1.3 Satellite radioRevenue 2.1 Advertising2.2 Public license fee2.3 SubscriptionGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Broadcast radio-  The Radio Market is a thriving business sector where broadcasters reach out to diverse audiences through various radio formats. Advertisers invest in radio advertising due to its wide reach and affordability. Radio stations generate revenue through sponsorships, commercials, and subscriptions. Effective programming and audience engagement strategies are essential for radio stations to retain listeners and attract new ones. Radio’s accessibility and convenience make it an attractive advertising medium for businesses aiming to expand their customer base.

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Research Analysis

[Opening jingle plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest technology trends and innovations. Today, we’re diving into the world of modern radio communications. With the rise of digital capabilities, radio technology is evolving at an incredible pace. Triton Digital and other players are leading the charge towards smart radio, offering high-quality audio, priority access, and group calling features. But radio communications aren’t just for broadcasters anymore. Military modernization, crime prevention, and disaster response are all areas where two-way communications are essential. In Athens, Greece, analog voice systems are being replaced with digital trunking networks, providing more effective response to emergencies. New technologies like rapid voice and high-priority access are revolutionizing the way we communicate. From micromarkets to individual growth trends, research and development is key. Vendor offerings, interface manufacturers, and system integrators are all working together in joint ventures to push the boundaries of what’s possible. Stay tuned for more insights on this exciting topic.” [Closing jingle plays]

Market Research Overview

[Intro music plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest trends and innovations in technology. Today, we’re diving into the world of radio communications, focusing on military modernization and the evolution of smart radios. [SFX: Military marching music] [Host]: “Gone are the days of analog voice and two-way communications. Military modernization has led to the adoption of digital capabilities, including group calling, priority access, and high-quality audio. But what about public safety and emergency response? Real-time communication is crucial during crime, terrorism, and natural disasters. [SFX: Siren sound] [Host]: “New technologies, such as site trunking and cross-agency coordination, are essential for effective response. Spectrum efficiency and harmonized spectrum are major factors in the micromarkets of individual growth trends. Vendor offerings from companies like Triton Digital and iHeartMedia are shaping the future of radio communications. [SFX: Radio static] [Host]: “From commercial applications in the transportation and utility sectors to advancements in handheld devices like walkie-talkies, digital technology is revolutionizing the way we communicate. Stay tuned for more on interoperability, seamless communication, and the future of radio communications. [SFX: Upbeat music]” [End music plays] [Host]: “That’s all for today on Cryptomania Radio. Join US tomorrow for another exciting episode. Until then, stay informed and stay connected.”

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBroadcast RadioOnline Mobile RadioSatellite RadioRevenueAdvertisingPublic License FeeSubscriptionGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Wireless Router Market to Grow by USD 8.09 Billion from 2024-2028, Driven by Rising Adoption of Smart Home Systems, AI Powered Report by Technavio

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NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global wireless router market size is estimated to grow by USD 8.09 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.24%  during the forecast period. Increasing adoption of smart connected home systems is driving market growth, with a trend towards increasing use of wireless router in retail industry. However, inferior communication network infrastructure in developing regions poses a challenge. Key market players include Adtran Holdings Inc., Amped Wireless, ASUSTeK Computer Inc., Broadcom Inc., Buffalo Americas Inc., China Huaxin Post and Telecom Technologies Co. Ltd., Cisco Systems Inc., D Link Corp., DrayTek Corp., EDIMAX Technology Co. Ltd., Extreme Networks Inc., Hon Hai Precision Industry Co. Ltd., Huawei Investment & Holding Co., Ltd., Juniper Networks Inc., MERCUSYS Technologies Co. Ltd., Netgear Inc., Shenzhen Tenda Technology Co. Ltd., SIA Mikrotikls, TP Link Corp. Ltd., and Xiaomi Communications Co. Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Non-Residential and Residential), Type (Fixed and Mobile), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Adtran Holdings Inc., Amped Wireless, ASUSTeK Computer Inc., Broadcom Inc., Buffalo Americas Inc., China Huaxin Post and Telecom Technologies Co. Ltd., Cisco Systems Inc., D Link Corp., DrayTek Corp., EDIMAX Technology Co. Ltd., Extreme Networks Inc., Hon Hai Precision Industry Co. Ltd., Huawei Investment & Holding Co., Ltd., Juniper Networks Inc., MERCUSYS Technologies Co. Ltd., Netgear Inc., Shenzhen Tenda Technology Co. Ltd., SIA Mikrotikls, TP Link Corp. Ltd., and Xiaomi Communications Co. Ltd.

Key Market Trends Fueling Growth

In the retail industry, providing a cost-effective and optimal customer experience is crucial in a highly competitive market. Wireless connected solutions, including point-of-sale (POS) systems, vending machines, radio frequency identification systems, and kiosks, help retailers streamline processes and enhance the shopping experience. POS systems enable flexible payment options and improved queue management, creating a better customer experience. Retail businesses face numerous risks related to security, safety, communications, and building automation. Remote monitoring and security systems, such as machine-to-machine (M2M) security systems, play a vital role in mitigating these risks. These systems detect intrusion and shoplifting, handle fire and explosion incidents, and manage access authorizations. Retail security devices, like security alarms and mechanical security, are cost-effective solutions to protect merchandise. Technologies like electronic article surveillance are adopted to prevent shoplifting. M2M security systems, with declining installation costs and tariff rates, offer retailers real-time alerts and remote monitoring capabilities. Wireless routers are essential for the functioning of POS systems and security systems, enabling seamless information exchange among multiple devices in the retail sector. These factors contribute to the growth of the global wireless router market during the forecast period. 

The Wireless Router market is experiencing significant growth due to the increasing trend of Smart City Initiatives and the need for connectivity in various infrastructure projects. With the expansion of intelligent surveillance networks, public Wi-Fi hotspots, and smart transportation systems, the demand for high-performance wireless routers is on the rise. Consumer electronics such as gaming consoles, cellphones, and streaming devices also contribute to the market’s growth. Mesh networking is a popular trend, with mesh networking systems offering improved coverage and next-generation connectivity. However, the market faces challenges such as security worries, cybersecurity risks, and technological fragmentation due to the proliferation of ransomware, malware, and unauthorized access. High-end wireless routers are in demand for both residential and business settings, but their limited coverage necessitates the use of range extenders. Broadband connectivity and internet infrastructure investments are crucial for regulatory compliance requirements, especially in rural areas where digital services are essential. The market is witnessing the emergence of 5G, but privacy concerns persist, leading to the development of privacy-enhancing features and transparent data practices. Wi-Fi standards, including Wi-Fi 4 (802.11n), Wi-Fi 5 (802.11ac), and Wi-Fi 6 (802.11ax), continue to evolve to meet the demands of consumers and businesses alike. 

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Market Challenges

 A  network infrastructure is essential for efficient Internet communication and multimedia streaming, which involves Voice over Internet Protocol (VoIP) calls and live streaming of music and videos. However, several developing countries, including Bangladesh, Central African Republic, Nepal, and Haiti, lack the necessary Internet network and telecom infrastructure to support high-speed Internet networks. In many Asian countries, 4G technology is still in its initial stages, with Pakistan being one of the countries yet to witness significant adoption. The absence of 4G technology can hinder the growth of the wireless router market, as it is a crucial component of reliable and uninterrupted telecom services. Moreover, many rural areas in the Asia-Pacific and Middle East and Africa regions are still without 4G connections, and several developing countries lack geographically extensive telecom networks. These challenges will restrict the growth of the global wireless router market during the forecast period.The wireless router market faces challenges in providing reliable products that support interoperable single-band, dual-band, and tri-band devices. Interference from frequency bands can affect dependable internet access, especially during simultaneous connections. Dual-band routers are popular in industries like financial services, information technology, telecommunications, retail, and healthcare for connected devices such as heart-rate monitoring equipment and patient-centric care delivery. With the rise of high-speed internet, Wi-Fi 6 standards, smart homes, and 5G infrastructure, businesses need routers that can handle bandwidth-intensive apps, smart home gadgets, and network traffic. D-Link’s AI-powered Wi-Fi router and Wi-Fi 6E routers offer solutions for high-speed connectivity, security features, and seamless integration with smart devices. Companies like D-Link are addressing these challenges to meet the demands of distant work, online learning, and 5G networks for higher bandwidths and internet penetration.

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Segment Overview

This wireless router market report extensively covers market segmentation by

End-user 1.1 Non-Residential1.2 ResidentialType 2.1 Fixed2.2 MobileGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Non-Residential-  The Wireless Router Market is experiencing significant growth due to the increasing demand for reliable and high-speed internet connections. Companies are investing in advanced technologies like MU-MIMO and beamforming to enhance network performance. Additionally, the rise of IoT devices and work-from-home culture is driving the market forward. Major players include Netgear, D-Link, and TP-Link, who are continuously innovating to meet consumer needs. Overall, the Wireless Router Market is poised for continued expansion in the coming years.

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Research Analysis

The wireless router market is a dynamic and growing industry that provides high-speed internet access for private computer networks, enabling wireless-only LAN connections for various devices such as laptops, smart home devices, Smart TVs, speakers, security cameras, and more. With the increasing number of connected devices and bandwidth-intensive apps, the demand for wireless routers and wireless access points is on the rise. The wireless router industry caters to both residential and commercial sectors, offering single-band, dual-band, and tri-band options to meet diverse network traffic needs. The advent of 5G infrastructure and Wi-Fi 6 technology, including Wi-Fi 6E routers, has further boosted the market’s growth. Mobile broadband and M2M communication are also driving new opportunities in the wireless router market, particularly for home offices and other remote work environments.

Market Research Overview

The wireless router market is a dynamic and growing industry that provides high-speed internet access for both residential and business settings. Wireless routers and wireless access points enable the creation of private computer networks, allowing connected devices such as laptops, smart home devices, and IoT gadgets to access the internet. The industry caters to various sectors including financial services, information technology, telecommunications, retail, and healthcare, among others. Wi-Fi technology, with its superior performance and interoperability, is a key driver for the market. Single-band, dual-band, and tri-band wireless routers cater to different needs, with dual-band and tri-band routers offering better performance in high-density areas and simultaneous connections. The wireless router industry is witnessing significant growth due to the increasing number of connected devices, the rise of high-speed internet markets, and the adoption of Wi-Fi 6 standards. The market is also being influenced by the proliferation of 5G networks and the higher bandwidths they offer, as well as the trend towards mesh networking systems. Security features are becoming increasingly important, with consumers and businesses demanding secure and reliable products. The market is also witnessing the emergence of AI-powered Wi-Fi routers and the integration of Wi-Fi technology into smart homes and cities. The market is expected to continue growing, driven by the increasing demand for next-generation connectivity and the increasing number of bandwidth-intensive apps and smart home gadgets. However, security worries remain a concern, and manufacturers must address these concerns to ensure customer trust.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userNon-ResidentialResidentialTypeFixedMobileGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

The home energy management systems market is projected to grow by USD 1.97 Billion from 2024-2028, with AI impacting trends and rising smart grid adoption driving revenue – Technavio

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NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Home Energy Management Systems market  size is estimated to grow by USD 1.97 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.01%  during the forecast period.  Growing adoption of smart grid technologies is driving market growth, with a trend towards growing investment in smart cities and smart homes  However, high cost of implementation and interoperability issues  poses a challenge – Key market players include Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Hardware, Software, and Services), Product (Lighting controls, Programmable thermostats, Self-monitoring systems, and Advanced central controllers), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc.

Key Market Trends Fueling Growth

The smart home market is experiencing significant growth as consumers seek to enhance convenience and efficiency in their living spaces. Advanced sensors and affordable technologies enable homeowners to connect and control appliances such as heating systems, lighting, air conditioning, computers, TVs, entertainment systems, security devices, and cameras using smartphones and tablets. Artificial intelligence predicts consumer preferences based on historical data. The rise of smart homes is driven by the increasing number of working couples with dual incomes in North America, Europe, and emerging economies in APAC. Governments worldwide are investing in smart city projects, particularly in the Middle East, increasing the demand for home energy management systems and fueling the growth of the global market.

The Home Energy Management Systems (HEMS) market is experiencing significant growth due to increasing concerns over greenhouse gas emissions and the need to reduce energy consumption. This Industry Analysis Report covers trends such as the adoption of hybrid technology, IoT technologies, and machine learning in HEMS. Key players like Iberdrola are leading the way with advanced central controllers, intelligent HVAC controllers, and self-monitoring systems. New construction and multi-family residences are embracing smart home technologies, including programmable communicating thermostats and smart meters. Deployment types include cloud deployment and Wi-Fi, with financial incentives like rebates and tax credits driving adoption. HEMS also supports smart grid development and EV charging. Power consumption data analytics and electricity usage patterns help homeowners reduce energy bills and carbon footprints. Advanced data analytics and artificial intelligence further optimize energy management strategies. Wireless protocols technology ensures seamless integration of various HEMS components. Overall, HEMS is a crucial technology for smart building development and reducing carbon footprints.

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Market Challenges

Home energy management systems (HEMS) offer significant energy savings by allowing homeowners to monitor and control their energy consumption in real-time. However, the high initial investment required to install these systems, which includes sensors, displays, software, and professional installation of smart thermostats, discourages many homeowners from adopting HEMS. The average cost of a smart thermostat ranges from USD250 to USD350, and additional installation fees add to the expense. Furthermore, maintenance costs are also high, increasing the overall cost of ownership. Another challenge is the use of proprietary communication technologies by various smart devices, which necessitates the use of a single platform or hub to ensure seamless integration and automation. This limits consumer choice and requires a significant investment in a single provider or multiple hubs, which may hinder the growth of the global HEMS market. In summary, the high initial and ongoing costs, along with the need for a single proprietary platform or hub, present significant barriers to the adoption of home energy management systems. These challenges may negatively impact the growth of the global HEMS market during the forecast period.The Home Energy Management Systems (HEMS) market is experiencing significant growth due to increasing concerns over greenhouse gas emissions and the need to reduce energy consumption and costs. The market comprises hardware like intelligent HVAC controllers, programmable communicating thermostats, and lighting controls, as well as software solutions and self-monitoring systems. HEMS utilizes hybrid technology, IoT, machine learning, and advanced data analytics, including artificial intelligence. Key players like Iberdrola are driving innovation through smart building development and smart grid integration. New construction and multi-family residences are prime targets for HEMS implementation. Financial incentives such as rebates, tax credits, and carbon footprint reduction are major drivers. HEMS also supports smart home technologies like Wi-Fi, Ethernet, and wireless protocols. The future of HEMS includes integration with electric vehicles (EVs), advanced central controllers, and cloud deployment for energy management strategies.

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Segment Overview

This home energy management systems market report extensively covers market segmentation by

Component 1.1 Hardware1.2 Software1.3 ServicesProduct 2.1 Lighting controls2.2 Programmable thermostats2.3 Self-monitoring systems2.4 Advanced central controllersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Hardware-  The home energy management system market is driven by the growing adoption of advanced hardware components. This hardware includes a hub device that communicates between home events, users, and sometimes utilities or electricity retailers. Additional components, such as smart plugs, light sensors, and temperature sensors, can also be integrated. As communication and sensing technology advances, hardware is becoming a significant market focus. Wired sensor networks, with their increased reliability, longer service lives, and reduced interference, are gaining popularity. The expansion of the hardware segment is expected to boost the home energy management system market, as monitoring and controlling building operations becomes more prevalent. Consequently, the global home energy management systems market is anticipated to grow substantially during the forecast period.

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Research Analysis

The Home Energy Management Systems (HEMS) market is a rapidly growing sector in the energy industry, focused on optimizing energy consumption and cost savings in residential and commercial applications. HEMS integrates hardware and software solutions, including thermostat systems, intelligent HVAC controllers, and advanced central controllers, to manage and monitor energy usage in real-time. Wireless protocols technology, hybrid systems, and IoT integration are key trends driving market growth. New construction and deployment type are crucial factors influencing the market’s development. Industry Analysis Reports provide insights into market size, growth, trends, and opportunities. HEMS technology encompasses smart homes, electric vehicles (EVs), and lighting controls, with AI, machine learning, and advanced data analytics enhancing system capabilities. Wi-Fi and Ethernet are common communication protocols in HEMS.

Market Research Overview

The Home Energy Management Systems (HEMS) market is a rapidly growing sector in the energy industry, focused on optimizing energy usage and reducing carbon footprints in residential and commercial buildings. HEMS utilizes advanced central controllers, data analytics, artificial intelligence, and machine learning to analyze electricity usage patterns and provide energy management strategies. Cloud deployment enables remote monitoring and control of power consumption, while IoT technologies such as Ethernet, Wi-Fi, and wireless protocols facilitate seamless communication between devices. HEMS can integrate with various systems, including intelligent HVAC controllers, lighting controls, and EV charging stations. Financial incentives like rebates, tax credits, and industry analysis reports drive market growth. New construction and smart building development are major sectors adopting HEMS, while self-monitoring systems and smart home technologies are gaining popularity in multi-family residences and single-family homes. HEMS also plays a crucial role in the smart grid, enabling efficient energy distribution and reducing greenhouse gas emissions. Hybrid technology, including SunVault Storage and smart meters, further enhances the capabilities of HEMS. Overall, HEMS is a vital component of the transition towards sustainable energy solutions and reducing energy bills.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareServicesProductLighting ControlsProgrammable ThermostatsSelf-monitoring SystemsAdvanced Central ControllersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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