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 end-use 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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summary of this report @ http://www.grandviewresearch.com/industry-analysis/thermal-management-technologies-industry
Further key findings from the report suggest:
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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
·
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.
·
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.
·
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.
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the thermal management technologies market on the basis of product, application, and region.
Thermal Management Technologies Product Outlook (Revenue, USD Million, 2014 - 2024)
·
Hardware
·
Software
·
Interface
·
Substrates
Thermal Management Technologies Application Outlook (Revenue, USD
Million, 2014 - 2024)
·
Computers
·
Consumer Electronics
·
Telecommunication
·
Automotive
·
Renewable Energy
·
Others
Thermal Management Technologies Regional Outlook (Revenue, USD
Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
·
MEA
For press release of this report - http://www.grandviewresearch.com/press-release/global-thermal-management-technologies-industry
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