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レポート概要
当調査レポートは次の情報を含め、世界の集中変圧設備市場規模と予測を収録しています。・世界の集中変圧設備市場:売上、2018年-2023年、2024年-2029年 ・世界の集中変圧設備市場:販売量、2018年-2023年、2024年-2029年 ・世界のトップ5企業、2022年 世界の集中変圧設備市場は2022年に000Mドルと評価され、予測期間中に000%のCAGRで2029年までに000Mドルに達すると予測されています。米国市場は2022年に000Mドルと推定されており、中国は2029年までに000Mドルに達すると予測されています。「オンライン型」セグメントは今後6年間、000%のCAGRで2029年までに000Mドルに成長すると予測されています。 集中変圧設備のグローバル主要企業は、GE、 ABB、 Siemens、 Eaton、 Mitsubishi、 Schweitzer Engineering Laboratories、 Franklin Electric Grid Solutions、 Motwane、 KRYFS、 Qualitrol、 Weidmann、 Vaisala、 Koncar、 Doble Engineering、 Trackster、 Hiotron、 Trinetra T-Senseなどです。2022年にトップ5企業がグローバル売上シェアの約000%を占めています。 MARKET MONITOR GLOBAL(MMG)は、集中変圧設備のメーカー、サプライヤー、流通業者、および業界の専門家を調査しました。これには、販売量、売上、需要、価格変動、製品タイプ、最近の動向と計画、産業トレンド、成長要因、課題、阻害要因、潜在的なリスクなどが含まれます。 【セグメント別市場分析】 世界の集中変圧設備市場:タイプ別、2018年-2023年、2024年-2029年 世界の集中変圧設備市場:タイプ別市場シェア、2022年 ・オンライン型、オフライン型 世界の集中変圧設備市場:用途別、2018年-2023年、2024年-2029年 世界の集中変圧設備市場:用途別市場シェア、2022年 ・電力用変圧器、配電用変圧器、その他 世界の集中変圧設備市場:地域・国別、2018年-2023年、2024年-2029年 世界の集中変圧設備市場:地域別市場シェア、2022年 ・北米:アメリカ、カナダ、メキシコ ・ヨーロッパ:ドイツ、フランス、イギリス、イタリア、ロシア ・アジア:中国、日本、韓国、東南アジア、インド ・南米:ブラジル、アルゼンチン ・中東・アフリカ:トルコ、イスラエル、サウジアラビア、UAE 【競合分析】 また、当レポートは主要な市場参加者の分析を提供します。 ・主要企業における集中変圧設備のグローバル売上、2018年-2023年 ・主要企業における集中変圧設備のグローバル売上シェア、2022年 ・主要企業における集中変圧設備のグローバル販売量、2018年-2023年 ・主要企業における集中変圧設備のグローバル販売量シェア、2022年 さらに、当レポートは主要企業のプロファイルを提示します。 GE、 ABB、 Siemens、 Eaton、 Mitsubishi、 Schweitzer Engineering Laboratories、 Franklin Electric Grid Solutions、 Motwane、 KRYFS、 Qualitrol、 Weidmann、 Vaisala、 Koncar、 Doble Engineering、 Trackster、 Hiotron、 Trinetra T-Sense ************************************************************* ・調査・分析レポートの概要 集中変圧設備市場の定義 市場セグメント 世界の集中変圧設備市場概要 当レポートの特徴・ベネフィット 調査手法と情報源 ・世界の集中変圧設備市場規模 世界の集中変圧設備市場規模:2022年 VS 2029年 世界の集中変圧設備市場規模と予測 2018年-2029年 ・競争状況 グローバルトップ企業 売上ベースでのグローバルトップ企業 企業別グローバルでの集中変圧設備の売上 グローバルトップ3およびトップ5企業、2022年売上ベース グローバル企業の集中変圧設備製品タイプ グローバルにおけるティア1、ティア2、ティア3企業 ・タイプ別市場分析 タイプ区分:オンライン型、オフライン型 集中変圧設備のタイプ別グローバル売上・予測 ・用途別市場分析 用途区分:電力用変圧器、配電用変圧器、その他 集中変圧設備の用途別グローバル売上・予測 ・地域別市場分析 地域別集中変圧設備市場規模 2022年と2029年 地域別集中変圧設備売上・予測 北米市場:アメリカ、カナダ、メキシコ ヨーロッパ市場:ドイツ、フランス、イギリス、イタリア、ロシア アジア市場:中国、日本、韓国、東南アジア、インド 南米市場:ブラジル、アルゼンチン 中東・アフリカ市場:トルコ、イスラエル、サウジアラビア、UAE ・主要企業のプロファイル(企業概要、事業概要、主要製品、売上、ニュースなど) GE、 ABB、 Siemens、 Eaton、 Mitsubishi、 Schweitzer Engineering Laboratories、 Franklin Electric Grid Solutions、 Motwane、 KRYFS、 Qualitrol、 Weidmann、 Vaisala、 Koncar、 Doble Engineering、 Trackster、 Hiotron、 Trinetra T-Sense ... |
This research report provides a comprehensive analysis of the Centralised Transformer Equipment market, focusing on the current trends, market dynamics, and future prospects. The report explores the global Centralised Transformer Equipment market, including major regions such as North America, Europe, Asia-Pacific, and emerging markets. It also examines key factors driving the growth of Centralised Transformer Equipment, challenges faced by the industry, and potential opportunities for market players.
The global Centralised Transformer Equipment market has witnessed rapid growth in recent years, driven by increasing environmental concerns, government incentives, and advancements in technology. The Centralised Transformer Equipment market presents opportunities for various stakeholders, including Power Transformers, Distribution Transformers. Collaboration between the private sector and governments can accelerate the development of supportive policies, research and development efforts, and investment in Centralised Transformer Equipment market. Additionally, the growing consumer demand present avenues for market expansion.
The global Centralised Transformer Equipment market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period.
Key Features:
The research report on the Centralised Transformer Equipment market includes several key features to provide comprehensive insights and facilitate decision-making for stakeholders.
Executive Summary: The report provides overview of the key findings, market trends, and major insights of the Centralised Transformer Equipment market.
Market Overview: The report provides a comprehensive overview of the Centralised Transformer Equipment market, including its definition, historical development, and current market size. It covers market segmentation by Type (e.g., Online Type, Offline Type), region, and application, highlighting the key drivers, challenges, and opportunities within each segment.
Market Dynamics: The report analyses the market dynamics driving the growth and development of the Centralised Transformer Equipment market. The report includes an assessment of government policies and regulations, technological advancements, consumer trends and preferences, infrastructure development, and industry collaborations. This analysis helps stakeholders understand the factors influencing the Centralised Transformer Equipment market’s trajectory.
Competitive Landscape: The report provides an in-depth analysis of the competitive landscape within the Centralised Transformer Equipment market. It includes profiles of major market players, their market share, strategies, product portfolios, and recent developments.
Market Segmentation and Forecast: The report segment the Centralised Transformer Equipment market based on various parameters, such as by Type, region, and by Application. It provides market size and growth forecasts for each segment, supported by quantitative data and analysis. This helps stakeholders identify growth opportunities and make informed investment decisions.
Technological Trends: The report should highlight the key technological trends shaping the Centralised Transformer Equipment market, such as advancements in Type One technology and emerging substitutes. It analyses the impact of these trends on market growth, adoption rates, and consumer preferences.
Market Challenges and Opportunities: The report identify and analyses the major challenges faced by the Centralised Transformer Equipment market, such as technical bottleneck, cost limitations, and high entry barrier. It also highlights the opportunities for market growth, such as government incentives, emerging markets, and collaborations between stakeholders.
Regulatory and Policy Analysis: The report should assess the regulatory and policy landscape for Centralised Transformer Equipment, including government incentives, emission standards, and infrastructure development plans. It should analyse the impact of these policies on market growth and provide insights into future regulatory developments.
Recommendations and Conclusion: The report conclude with actionable recommendations for stakeholders, such as Application One Consumer, policymakers, investors, and infrastructure providers. These recommendations should be based on the research findings and address key challenges and opportunities within the Centralised Transformer Equipment market.
Supporting Data and Appendices: The report include supporting data, charts, and graphs to substantiate the analysis and findings. It also includes appendices with additional detailed information, such as data sources, survey questionnaires, and detailed market forecasts.
Market Segmentation
Centralised Transformer Equipment market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
Online Type
Offline Type
Market segment by Application
Power Transformers
Distribution Transformers
Others
Global Centralised Transformer Equipment Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Major players covered
GE
ABB
Siemens
Eaton
Mitsubishi
Schweitzer Engineering Laboratories
Franklin Electric Grid Solutions
Motwane
KRYFS
Qualitrol
Weidmann
Vaisala
Koncar
Doble Engineering
Trackster
Hiotron
Trinetra T-Sense
Outline of Major Chapters:
Chapter 1: Introduces the definition of Centralised Transformer Equipment, market overview.
Chapter 2: Global Centralised Transformer Equipment market size in revenue and volume.
Chapter 3: Detailed analysis of Centralised Transformer Equipment manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Centralised Transformer Equipment in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Centralised Transformer Equipment capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
1 Introduction to Research & Analysis Reports
1.1 Centralised Transformer Equipment Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Centralised Transformer Equipment Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Centralised Transformer Equipment Overall Market Size
2.1 Global Centralised Transformer Equipment Market Size: 2022 VS 2029
2.2 Global Centralised Transformer Equipment Revenue, Prospects & Forecasts: 2018-2029
2.3 Global Centralised Transformer Equipment Sales: 2018-2029
3 Company Landscape
3.1 Top Centralised Transformer Equipment Players in Global Market
3.2 Top Global Centralised Transformer Equipment Companies Ranked by Revenue
3.3 Global Centralised Transformer Equipment Revenue by Companies
3.4 Global Centralised Transformer Equipment Sales by Companies
3.5 Global Centralised Transformer Equipment Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 Centralised Transformer Equipment Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers Centralised Transformer Equipment Product Type
3.8 Tier 1, Tier 2 and Tier 3 Centralised Transformer Equipment Players in Global Market
3.8.1 List of Global Tier 1 Centralised Transformer Equipment Companies
3.8.2 List of Global Tier 2 and Tier 3 Centralised Transformer Equipment Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type – Global Centralised Transformer Equipment Market Size Markets, 2022 & 2029
4.1.2 Online Type
4.1.3 Offline Type
4.2 By Type – Global Centralised Transformer Equipment Revenue & Forecasts
4.2.1 By Type – Global Centralised Transformer Equipment Revenue, 2018-2023
4.2.2 By Type – Global Centralised Transformer Equipment Revenue, 2024-2029
4.2.3 By Type – Global Centralised Transformer Equipment Revenue Market Share, 2018-2029
4.3 By Type – Global Centralised Transformer Equipment Sales & Forecasts
4.3.1 By Type – Global Centralised Transformer Equipment Sales, 2018-2023
4.3.2 By Type – Global Centralised Transformer Equipment Sales, 2024-2029
4.3.3 By Type – Global Centralised Transformer Equipment Sales Market Share, 2018-2029
4.4 By Type – Global Centralised Transformer Equipment Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application – Global Centralised Transformer Equipment Market Size, 2022 & 2029
5.1.2 Power Transformers
5.1.3 Distribution Transformers
5.1.4 Others
5.2 By Application – Global Centralised Transformer Equipment Revenue & Forecasts
5.2.1 By Application – Global Centralised Transformer Equipment Revenue, 2018-2023
5.2.2 By Application – Global Centralised Transformer Equipment Revenue, 2024-2029
5.2.3 By Application – Global Centralised Transformer Equipment Revenue Market Share, 2018-2029
5.3 By Application – Global Centralised Transformer Equipment Sales & Forecasts
5.3.1 By Application – Global Centralised Transformer Equipment Sales, 2018-2023
5.3.2 By Application – Global Centralised Transformer Equipment Sales, 2024-2029
5.3.3 By Application – Global Centralised Transformer Equipment Sales Market Share, 2018-2029
5.4 By Application – Global Centralised Transformer Equipment Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
6.1 By Region – Global Centralised Transformer Equipment Market Size, 2022 & 2029
6.2 By Region – Global Centralised Transformer Equipment Revenue & Forecasts
6.2.1 By Region – Global Centralised Transformer Equipment Revenue, 2018-2023
6.2.2 By Region – Global Centralised Transformer Equipment Revenue, 2024-2029
6.2.3 By Region – Global Centralised Transformer Equipment Revenue Market Share, 2018-2029
6.3 By Region – Global Centralised Transformer Equipment Sales & Forecasts
6.3.1 By Region – Global Centralised Transformer Equipment Sales, 2018-2023
6.3.2 By Region – Global Centralised Transformer Equipment Sales, 2024-2029
6.3.3 By Region – Global Centralised Transformer Equipment Sales Market Share, 2018-2029
6.4 North America
6.4.1 By Country – North America Centralised Transformer Equipment Revenue, 2018-2029
6.4.2 By Country – North America Centralised Transformer Equipment Sales, 2018-2029
6.4.3 US Centralised Transformer Equipment Market Size, 2018-2029
6.4.4 Canada Centralised Transformer Equipment Market Size, 2018-2029
6.4.5 Mexico Centralised Transformer Equipment Market Size, 2018-2029
6.5 Europe
6.5.1 By Country – Europe Centralised Transformer Equipment Revenue, 2018-2029
6.5.2 By Country – Europe Centralised Transformer Equipment Sales, 2018-2029
6.5.3 Germany Centralised Transformer Equipment Market Size, 2018-2029
6.5.4 France Centralised Transformer Equipment Market Size, 2018-2029
6.5.5 U.K. Centralised Transformer Equipment Market Size, 2018-2029
6.5.6 Italy Centralised Transformer Equipment Market Size, 2018-2029
6.5.7 Russia Centralised Transformer Equipment Market Size, 2018-2029
6.5.8 Nordic Countries Centralised Transformer Equipment Market Size, 2018-2029
6.5.9 Benelux Centralised Transformer Equipment Market Size, 2018-2029
6.6 Asia
6.6.1 By Region – Asia Centralised Transformer Equipment Revenue, 2018-2029
6.6.2 By Region – Asia Centralised Transformer Equipment Sales, 2018-2029
6.6.3 China Centralised Transformer Equipment Market Size, 2018-2029
6.6.4 Japan Centralised Transformer Equipment Market Size, 2018-2029
6.6.5 South Korea Centralised Transformer Equipment Market Size, 2018-2029
6.6.6 Southeast Asia Centralised Transformer Equipment Market Size, 2018-2029
6.6.7 India Centralised Transformer Equipment Market Size, 2018-2029
6.7 South America
6.7.1 By Country – South America Centralised Transformer Equipment Revenue, 2018-2029
6.7.2 By Country – South America Centralised Transformer Equipment Sales, 2018-2029
6.7.3 Brazil Centralised Transformer Equipment Market Size, 2018-2029
6.7.4 Argentina Centralised Transformer Equipment Market Size, 2018-2029
6.8 Middle East & Africa
6.8.1 By Country – Middle East & Africa Centralised Transformer Equipment Revenue, 2018-2029
6.8.2 By Country – Middle East & Africa Centralised Transformer Equipment Sales, 2018-2029
6.8.3 Turkey Centralised Transformer Equipment Market Size, 2018-2029
6.8.4 Israel Centralised Transformer Equipment Market Size, 2018-2029
6.8.5 Saudi Arabia Centralised Transformer Equipment Market Size, 2018-2029
6.8.6 UAE Centralised Transformer Equipment Market Size, 2018-2029
7 Manufacturers & Brands Profiles
7.1 GE
7.1.1 GE Company Summary
7.1.2 GE Business Overview
7.1.3 GE Centralised Transformer Equipment Major Product Offerings
7.1.4 GE Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.1.5 GE Key News & Latest Developments
7.2 ABB
7.2.1 ABB Company Summary
7.2.2 ABB Business Overview
7.2.3 ABB Centralised Transformer Equipment Major Product Offerings
7.2.4 ABB Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.2.5 ABB Key News & Latest Developments
7.3 Siemens
7.3.1 Siemens Company Summary
7.3.2 Siemens Business Overview
7.3.3 Siemens Centralised Transformer Equipment Major Product Offerings
7.3.4 Siemens Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.3.5 Siemens Key News & Latest Developments
7.4 Eaton
7.4.1 Eaton Company Summary
7.4.2 Eaton Business Overview
7.4.3 Eaton Centralised Transformer Equipment Major Product Offerings
7.4.4 Eaton Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.4.5 Eaton Key News & Latest Developments
7.5 Mitsubishi
7.5.1 Mitsubishi Company Summary
7.5.2 Mitsubishi Business Overview
7.5.3 Mitsubishi Centralised Transformer Equipment Major Product Offerings
7.5.4 Mitsubishi Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.5.5 Mitsubishi Key News & Latest Developments
7.6 Schweitzer Engineering Laboratories
7.6.1 Schweitzer Engineering Laboratories Company Summary
7.6.2 Schweitzer Engineering Laboratories Business Overview
7.6.3 Schweitzer Engineering Laboratories Centralised Transformer Equipment Major Product Offerings
7.6.4 Schweitzer Engineering Laboratories Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.6.5 Schweitzer Engineering Laboratories Key News & Latest Developments
7.7 Franklin Electric Grid Solutions
7.7.1 Franklin Electric Grid Solutions Company Summary
7.7.2 Franklin Electric Grid Solutions Business Overview
7.7.3 Franklin Electric Grid Solutions Centralised Transformer Equipment Major Product Offerings
7.7.4 Franklin Electric Grid Solutions Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.7.5 Franklin Electric Grid Solutions Key News & Latest Developments
7.8 Motwane
7.8.1 Motwane Company Summary
7.8.2 Motwane Business Overview
7.8.3 Motwane Centralised Transformer Equipment Major Product Offerings
7.8.4 Motwane Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.8.5 Motwane Key News & Latest Developments
7.9 KRYFS
7.9.1 KRYFS Company Summary
7.9.2 KRYFS Business Overview
7.9.3 KRYFS Centralised Transformer Equipment Major Product Offerings
7.9.4 KRYFS Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.9.5 KRYFS Key News & Latest Developments
7.10 Qualitrol
7.10.1 Qualitrol Company Summary
7.10.2 Qualitrol Business Overview
7.10.3 Qualitrol Centralised Transformer Equipment Major Product Offerings
7.10.4 Qualitrol Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.10.5 Qualitrol Key News & Latest Developments
7.11 Weidmann
7.11.1 Weidmann Company Summary
7.11.2 Weidmann Business Overview
7.11.3 Weidmann Centralised Transformer Equipment Major Product Offerings
7.11.4 Weidmann Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.11.5 Weidmann Key News & Latest Developments
7.12 Vaisala
7.12.1 Vaisala Company Summary
7.12.2 Vaisala Business Overview
7.12.3 Vaisala Centralised Transformer Equipment Major Product Offerings
7.12.4 Vaisala Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.12.5 Vaisala Key News & Latest Developments
7.13 Koncar
7.13.1 Koncar Company Summary
7.13.2 Koncar Business Overview
7.13.3 Koncar Centralised Transformer Equipment Major Product Offerings
7.13.4 Koncar Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.13.5 Koncar Key News & Latest Developments
7.14 Doble Engineering
7.14.1 Doble Engineering Company Summary
7.14.2 Doble Engineering Business Overview
7.14.3 Doble Engineering Centralised Transformer Equipment Major Product Offerings
7.14.4 Doble Engineering Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.14.5 Doble Engineering Key News & Latest Developments
7.15 Trackster
7.15.1 Trackster Company Summary
7.15.2 Trackster Business Overview
7.15.3 Trackster Centralised Transformer Equipment Major Product Offerings
7.15.4 Trackster Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.15.5 Trackster Key News & Latest Developments
7.16 Hiotron
7.16.1 Hiotron Company Summary
7.16.2 Hiotron Business Overview
7.16.3 Hiotron Centralised Transformer Equipment Major Product Offerings
7.16.4 Hiotron Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.16.5 Hiotron Key News & Latest Developments
7.17 Trinetra T-Sense
7.17.1 Trinetra T-Sense Company Summary
7.17.2 Trinetra T-Sense Business Overview
7.17.3 Trinetra T-Sense Centralised Transformer Equipment Major Product Offerings
7.17.4 Trinetra T-Sense Centralised Transformer Equipment Sales and Revenue in Global (2018-2023)
7.17.5 Trinetra T-Sense Key News & Latest Developments
8 Global Centralised Transformer Equipment Production Capacity, Analysis
8.1 Global Centralised Transformer Equipment Production Capacity, 2018-2029
8.2 Centralised Transformer Equipment Production Capacity of Key Manufacturers in Global Market
8.3 Global Centralised Transformer Equipment Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Centralised Transformer Equipment Supply Chain Analysis
10.1 Centralised Transformer Equipment Industry Value Chain
10.2 Centralised Transformer Equipment Upstream Market
10.3 Centralised Transformer Equipment Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Centralised Transformer Equipment Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer