Industrial & Commercial Energy Management Solutions See Unprecedented Demand Through 2032

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According to the latest market research study published by P&S Intelligence, the global EMS market, valued at USD 45.2 billion in 2024, is poised for exponential growth, expected to reach USD 148.7 billion by 2032, advancing at a robust CAGR of 16.2% from 2025 to 2032. This unprecedented expansion is fueled by rising global energy demand, escalating utility costs, and the urgent need for energy-efficient and sustainable solutions across industries.

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EMS solutions empower organizations to monitor, control, and optimize energy usage, resulting in significant cost savings while enhancing operational efficiency. The integration of IoT-enabled devices, AI-powered analytics, and smart grid technologies is driving widespread adoption across commercial buildings, manufacturing facilities, and utility sectors. Governments worldwide are supporting EMS deployment to meet stringent environmental regulations and curb greenhouse gas emissions.

The rise of renewable energy, smart homes, and smart cities is further accelerating demand for sophisticated EMS solutions capable of managing decentralized power networks. North America and Europe dominate the market due to strong governmental support for innovation, while the Asia-Pacific region is projected to achieve the fastest growth, driven by rapid industrialization and urbanization.

Key trends shaping the EMS market include the adoption of cloud-based platforms, real-time monitoring through AI and IoT, advanced data visualization, and seamless integration of renewable energy sources. Industrial expansion, corporate sustainability goals, and regulatory compliance are major growth drivers, prompting businesses worldwide to adopt EMS as part of their ESG initiatives.

The EMS market features a wide array of offerings, components, and solutions tailored for diverse sectors, from industrial energy management to smart building applications. Software solutions, particularly those integrating AI and cloud technologies, are emerging as the fastest-growing segment, supporting data-driven decision-making and operational efficiency.

As organizations and governments intensify their focus on energy optimization, sustainability, and cost reduction, the EMS market is set to become an indispensable tool for the energy landscape of the future. Leading players like Schneider Electric SE, Siemens AG, Honeywell International Inc., and ABB Ltd. are at the forefront of innovation, delivering comprehensive solutions globally.

With technological advancements, industrial expansion, and ESG commitments driving growth, the EMS market is poised for a dynamic future, reshaping how energy is managed across industries worldwide.

Mobile Wallets and Tap-to-Pay Driving Explosive Growth in U.S. Payments

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According to the latest market research study published by P&S Intelligence, the U.S. contactless payment systems market is entering an era of unprecedented growth. Valued at $15.2 billion in 2024, the market is expected to reach $53.2 billion by 2032, achieving a CAGR of 17.1% during the 2025–2032 period. This growth is fueled by rapid technological advancements, evolving consumer preferences, and the widespread adoption of smartphones, wearable devices, and digital wallets.

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Contactless payment systems offer unparalleled convenience, allowing consumers to make transactions by tapping credit or debit cards at point-of-sale terminals, scanning mobile wallets like Apple Pay and Google Pay, or using smartwatches integrated with banking applications. The COVID-19 pandemic significantly accelerated the adoption of these solutions, as consumers and businesses alike sought hygienic, touch-free payment methods. According to Mastercard, the volume of U.S. contactless payments surged 150% in 2020 compared to the previous year, reflecting the rapid shift toward digital, instantaneous transactions. Today, contactless payments have become an industry standard, with retail businesses, restaurants, and public transportation providers integrating tap-to-pay capabilities into their daily operations.

Key Trends Driving Market Growth

Rapid Adoption of Mobile Wallets

Mobile wallets have emerged as the largest segment within the U.S. contactless payments market, accounting for 55% of total transactions. Over 65% of Americans use mobile wallets at least once a month, and more than half now prefer them over traditional payment methods. By 2023, a third of Americans had linked their digital wallets to two or more credit/debit cards, while 43% connected them to multiple bank accounts. In 2024, Apple expanded its tap-to-pay service to all U.S. merchants, eliminating the need for external terminals and enabling businesses to accept contactless payments directly on iPhones. Mobile wallets are rapidly gaining popularity due to the speed, convenience, and security they provide, as well as their ability to integrate with loyalty programs and personalized offers.

Expansion of Contactless Infrastructure

The fast-growing infrastructure for contactless payments is another key driver of market growth. In 2023, the Federal Reserve launched FedNow, a real-time payment system that allows banks and fintech companies to process transactions 24/7, enhancing accessibility for consumers and businesses alike. Over 70% of retailers in the U.S. now accept contactless payments, and 25% of all credit/debit card transactions in 2023 were made using contactless methods. Major gateways, including PayPal, Stripe, Square, BlueSnap, Authorize.net, and Adyen, support this evolution. Furthermore, the California Air Resources Board reported that 69% of debit cards in the U.S. supported contactless payments in 2023, with full adoption expected by 2027.

Market Segmentation Highlights

  • By Application: Retail dominates the market with a 50% share, as consumers increasingly favor quick, safe, and efficient transactions. Grocery payments, for example, were 85% contactless in 2023. Hospitality is the fastest-growing sector, as diners and hotel guests leverage mobile wallets and contactless cards for seamless payments, whether at hotel counters, room service, or food delivery.
  • By Technology: Near-Field Communication (NFC) leads with a 60% share, offering secure device-to-device transactions through encryption and tokenization. Emerging technologies like Bluetooth Low Energy (BLE) are gaining traction for fast and convenient payments.
  • By Region: The Western U.S. leads with 40% of market revenue, thanks to tech-savvy consumers and technology hubs in San Francisco and Seattle, while the Southern region is the fastest-growing market due to rising adoption of contactless payments.

Key Players and Market Innovation

The U.S. contactless payments ecosystem is highly fragmented, consisting of both dominant players and smaller innovators. Key companies driving growth include Apple, Google, PayPal, Stripe, Samsung, Amazon, Walmart, JPMorgan Chase, Shopify, Block, and Intuit. Recent market developments underscore the dynamism of this sector: in March 2025, Walmart partnered with Klarna to provide flexible buy-now-pay-later (BNPL) options, while in July 2024, Stripe acquired Lemon to enhance its payment processing capabilities.

Conclusion

With technological innovation, expanding infrastructure, and shifting consumer preferences converging, the U.S. contactless payment systems market is poised for transformational growth. Businesses that embrace this trend will benefit from faster transactions, increased customer satisfaction, and streamlined operations, while consumers will continue to enjoy the convenience, speed, and security of tap-to-pay solutions. As mobile wallets, NFC technology, and contactless cards become the new normal, the market is set to redefine the way Americans shop, dine, and pay in the coming decade.

U.S. Colocation Market to Soar to $58.8B by 2032, Fueled by Data Growth and Digital Transformation

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According to the latest market research study published by P&S Intelligence, the U.S. colocation market, valued at USD 22.2 billion in 2024, is poised for remarkable growth, projected to reach USD 58.8 billion by 2032, expanding at a CAGR of 13.1%. This surge is fueled by the exponential generation of data and the rapid adoption of advanced analytics to drive business efficiency.

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With the proliferation of IoT devices and cloud computing, organizations are producing unprecedented volumes of data. Businesses are increasingly turning to colocation solutions to store and manage this data efficiently. Colocation not only provides scalable storage and predictable pricing but also offers significant cost optimization, allowing companies to focus on core operations without heavy capital expenditure on IT infrastructure.

Green and Efficient Data Centers Gain Momentum

Sustainability is becoming a key differentiator in the colocation market. The industry is witnessing the rise of green data centers powered by renewable energy and equipped with energy-efficient systems such as ENERGY STAR-rated HVAC units and waste heat recovery apparatus. Increasing regulatory pressures and consumer demand for ESG-compliant operations are further accelerating this trend.

Hybrid, Edge, and Multi-Cloud Solutions Drive Innovation

Edge data centers are emerging as a critical solution for low-latency requirements, powered by advances in 5G, AI, IoT, and autonomous technologies. By situating infrastructure closer to end-users, businesses can achieve faster, real-time data processing, benefiting sectors such as healthcare, manufacturing, and smart cities.

The adoption of hybrid IT environments and multi-cloud strategies is reshaping colocation services. Businesses gain seamless integration with major cloud providers, including AWS, Microsoft Azure, and Google Cloud, achieving operational flexibility, enhanced disaster recovery, and cost savings.

Cost Optimization Remains a Top Priority

Colocation allows businesses to host IT assets securely without the financial burden of private data centers or the risks of public cloud environments. Transparent pricing models, high security, and system redundancy ensure uninterrupted access to critical IT infrastructure, enabling organizations to reduce IT costs by up to 30%.

Retail Colocation Leads, SMEs Grow Rapidly

Retail colocation, representing 75% of the market, remains the preferred choice for SMEs and startups, thanks to flexible, scalable, and affordable solutions. While large enterprises dominate the overall market, SMEs are growing at a CAGR of 12.7%, driven by digital transformation and the need for secure, cost-effective data storage.

Sector Highlights

  • IT & Telecom: Largest market share at 30% in 2024, driven by cloud adoption, 5G, and high-volume data traffic.
  • Healthcare: Fastest-growing sector, fueled by digital health initiatives, telemedicine, and remote patient monitoring.

Regional and Competitive Landscape

The Northeast dominates with a 40% market share due to its concentration of financial institutions and tech companies. The market is highly fragmented, with major players like Equinix, Digital Realty, and CyrusOne alongside over 500 specialized providers, including CoreSite, Flexential, and Cologix.

Recent Developments

  • October 2024: Cologix raised USD 1.5 billion to expand data center development across North America.
  • April 2024: Equinix and PGIM Real Estate launched their first xScale facility in Silicon Valley with a USD 600 million investment.
The U.S. colocation market is entering a transformative phase, offering scalable, secure, and sustainable solutions that empower businesses to meet the demands of a data-driven future.

Fintech and Government Initiatives Propel Saudi Arabia’s Contactless and Mobile Payments

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The Saudi Arabian digital payments market, valued at USD 1 billion in 2024, is projected to expand at a CAGR of 13.6% between 2025 and 2032, reaching USD 2.7 billion by 2032. This remarkable growth is fueled by the rise in smartphone users, improved internet connectivity, robust government support, and greater adoption of digital wallets and contactless payment solutions.

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Market Snapshot (2024-2032)

Parameter

Data

Market Size (2024)

USD 1 billion

Projected Market Size (2032)

USD 2.7 billion

CAGR (2025-2032)

13.6%

Key Drivers

Smartphone adoption, digital wallets, fast internet, SAMA support

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The adoption of advanced technologies such as AI and blockchain is enhancing transaction security, reducing fraud, and improving international accessibility. Furthermore, the Saudi Arabian Monetary Authority (SAMA) has created a controlled testing environment allowing fintech companies to pilot innovative payment solutions, including in rural areas.

Emerging Trends in Digital Payments

Open Banking and API Integration Lead the Market
APIs and open banking platforms are transforming payment methods by enabling seamless and secure transfer of customer data with certified fintech solutions. These innovations facilitate mobile apps for bill payments, fund transfers, and personalized services. Reports indicate 79% of urban consumers utilize online payments due to stable internet connectivity.

Financial Inclusion Efforts Drive Growth
The expansion of digital wallets and mobile apps like STC Pay is increasing financial access in underserved regions. While 22% of rural consumers still rely on cash, government initiatives and Vision 2030 aim to make 80% of transactions cashless by 2030.

Digital Payment Market Segmentation

Payment Method Analysis

Payment Method

2024 Market Share

CAGR

Key Insights

Credit & Charge Cards

40% (Largest)

–

Widely used online/offline; 33% consumer usage

Mobile Wallets

–

13.8% (Fastest-Growing)

Contactless payments; 80% consumer usage (e.g., Mada Pay, Apple Pay)

Debit Cards

–

–

Common for everyday transactions

Bank Transfers

–

–

Secure and widely accessible

BNPL

–

–

Growing adoption for flexible payments

 

Payment Channel Analysis

Payment Channel

2024 Market Share

CAGR

Key Insights

POS Terminals

65% (Largest)

–

Preferred for offline contactless payments; 95% contactless transactions in 2024

E-commerce/Online Payments

–

13.9% (Fastest-Growing)

Driven by online shopping and SAMA-supported systems

Contactless (NFC)

–

–

Secure, quick transactions

Chip & PIN/Magnetic Stripes

–

–

Trusted for card-based payments

Mobile Payments

–

–

Increasing smartphone adoption

ATM/Self-Service Kiosks

–

–

Widely available

QR Codes (Static/Dynamic)

–

–

Emerging in retail and services

 

End Use Analysis

End Use

2024 Market Share

CAGR

Key Insights

Retail & E-commerce

50% (Largest)

–

Platforms like Noon, Amazon; click-and-mortar preference

Banking, Financial Services & Insurance

–

14% (Fastest-Growing)

Mobile banking, fintech apps, digital transformation

Government & Utilities

–

–

Increased e-services adoption

Healthcare

–

–

Digital payments in healthcare services

Transportation & Logistics

–

–

Online ticketing and delivery payments

Hospitality & Tourism

–

–

Contactless and mobile wallet adoption

Education & Public Services

–

–

Cashless payments for fees and services

 

Transaction Analysis

Transaction Type

2024 Market Share

CAGR

Key Insights

Business-to-Consumer (B2C)

55% (Largest)

–

Retail activity, digital adoption, 63% of internet users shop B2C

Business-to-Business (B2B)

–

14.5% (Fastest-Growing)

ERP integration, government support, digital transformation

Consumer-to-Consumer (C2C)

–

–

Peer-to-peer payments

Government-to-Person (G2P)

–

–

Public disbursements digitally enabled

Person-to-Government (P2G)

–

–

Taxes, fees, utility payments digitally enabled

 

Geographical Insights

Region

2024 Market Share

CAGR

Key Highlights

Central

40% (Largest)

–

Riyadh leads POS transactions; high smartphone adoption

Southern

–

15% (Fastest-Growing)

Mobile wallets, internet penetration, government initiatives

Western

–

–

Active urban adoption

Eastern

–

–

Industrial and financial hubs

Northern

–

–

Growing digital penetration

 

Competitive Landscape and Key Players

The Saudi digital payment market is moderately consolidated with leading fintech and banking players driving innovation.

Key Saudi Arabia Digital Payment Companies:

  • STC Pay
  • HalalaH
  • SADAD Payment System
  • Mada
  • Tamara
  • Geidea
  • HyperPay
  • Tap Payments
  • Lean Technologies
  • HalalaPay
  • Cashew
  • Raqamyah

Recent Industry Developments:

  • Tamara & Paymob (Jan 2024): Collaboration to integrate BNPL solutions for SMEs in MENA.
  • HyperPay & Paymentology (Sep 2023): Partnership to deliver advanced, customized payment solutions.
  • Tap Payments & Alibaba (Feb 2023): MoU to leverage Alibaba cloud for secure digital payment systems.