Banking segment expected to expand at a higher CAGR over the forecast period
In banking, cognitive systems are used for customer service, advisory and decision-making support, investment consulting, and others. The banking sector is the most attractive vertical segment in the global cognitive systems spending market. In terms of value, the banking segment is expected to gain a significant BPS in the global cognitive systems spending market over the forecast period. The banking segment was estimated to account for more than 20% value share towards the end of 2016 and is expected to expand at a high CAGR of 15.5% than other segments of the global cognitive systems spending market during the period of forecast. The banking segment is expected to represent absolute $ opportunity of more than US$ 400 Mn between 2016 and 2026. Our report also indicates that the banking segment is estimated to account for more than 30% value share in the global cognitive systems spending market by 2026 end, followed by the healthcare segment.
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Ability to diffuse huge data in the banking sector likely to boost the global cognitive systems spending market
The global cognitive systems spending market is experiencing numerous technological advancements permitted with exceptional features for several industries especially in the banking sector. Cognitive systems with high-definition technology can help in determining the world’s most composite data analysis difficulties by entering into the complexity of exploiting the power of big data, machine learning, natural language processing, and automated reasoning technology. Some advances in technology would further benefit the diffusion of big data, thereby booming the growth of the global cognitive systems spending market in the forecast period. Another factor which is driving the growth of the global cognitive systems spending market is the challenge that most banks and financial institutions are facing in the present scenario. Banks have too much data and too little insight. That usually comes from using traditional analytical systems, which focus on examining historical data from relational databases and reporting answers to user queries. Cognitive analytics, in contrast, allows crunching a company’s big data as well as external information sources to forecast future events and behaviours as well as gives recommendations on the most rational behaviour in a given context. Cognitive systems allow conducting what-if analyses to predict the effect of potential changes in business strategies.
Natural language processing technology is the most adaptable technology in the banking sector for cognitive systems due to its easy and advanced language conversation process and is therefore boosting the growth of the global cognitive systems spending market
Improvements in the variety, efficiency, and reliability of machine learning will make cognitive systems more usable and stable in the banking segment and thereby help increase their popularity. This machine learning improvement is a step forward in directing non-human operating cognitive systems, which are contributing to the growth of the market.
The recognition and widespread acceptance of consumer-based intelligent assistant applications in the banking segment will drive sales of enterprise-based cognitive systems
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North America expected to expand at a higher CAGR during the forecast period in the banking segment
In terms of value, the banking segment was estimated to account for more than 20% value share by 2016 end and is expected to expand at a CAGR of 15.5% during the forecast period in North America. Banking segment is expected to witness comparatively high Y-o-Y growth rates ranging from 14.3% to 15.5% over 2016–2026. In Latin America, the banking segment is lagging behind while healthcare and education sectors are ahead and expect to exhibit a higher CAGR during the forecast period. In Western Europe, the banking sector is the second largest segment in terms of value after the manufacturing segment, which is expected to exhibit a higher CAGR during the forecast period.
IBM grabs more than 50% share in the global cognitive systems spending market
International Business Machines Corp (IBM) holds a market share in excess of 50% in the global cognitive systems spending market. The company is dominating the global market in banking along with hospital, manufacturing, and education cognitive systems. IBM Corporation aims to expand its presence in the Middle East and Africa having recently launched its offices in Kuwait, Saudi Arabia, Qatar, Angola, Nigeria, Kenya, Senegal, and Tanzania in order to strengthen its business in these regions.
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An extremely lucrative region for the global protective packaging market, North America is anticipated to register a CAGR of 5.4%
North America is expected to be the most favourable region in terms of incremental opportunities lying ahead for high revenue generation and is estimated to maintain its dominance in the global protective packaging market. The manufacturing industry remains a driving force of economic growth, productivity, and innovation in North America and affords the foundation for many other industries such as finance, retail, healthcare, technology and packaging. In terms of value, the protective packaging market in North America was valued at more than US$ 3,000 Mn in 2015 and is expected to expand close to US$ 12,000 Mn by 2026, representing an incremental opportunity of approximately US$ 5,000 Mn between 2016 and 2026.
In terms of revenue, the protective packaging market in North America is projected to expand at a CAGR of 5.4%, while sales volume is expected to increase at a CAGR of 4.5% over the forecast period. The U.S. was anticipated to account for nearly 90% share of the protective packaging market in North America by 2016. The North America region is highly regulated and is likely to create a substantial demand for protective packaging.
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Growing environmental concerns are adversely affecting the development of the global protective packaging market in North America
In order to protect products from damage, manufacturers, retailers, and even logistics service providers are using large volumes of protective packaging such as bubble wraps, paper fills, loose fill peanuts, or paper/foam edges which are adding up to the waste materials after the delivering or unpacking of the products. Such increasing recyclability issues in North America are creating grave concerns regarding the environment. Another important factor creating a negative impact on the protective packaging market in North America is the frequently changing package case design configuration.
Our analysts have observed that a one-size-fit-all solution approach is rarely applicable in the protective packaging industry in the North America region. It results in reviewing, evaluating, and testing multiple solutions to ensure improvements and safety; and finding the best packaging solution for a particular product. Therefore, a continuous change in the configuration of protective packaging is another aspect that is reducing the progress of the North America protective packaging market. Use of foamed plastic for protective packaging is also badly affecting the environment as it is non-biodegradable raw material that takes years to decompose and has practically no value in the recycling stream in North America.
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Flexible protective packaging anticipated to be a highly attractive segment in the North America protective packaging market
The flexible protective packaging product type segment is expected to continue its dominance in the North America protective packaging market in terms of market share over the forecast period owing to its light weight and recyclability features. This particular segment is projected to grab more than 70% of the market share in terms of revenue in the North America region. Flexible protective packaging is being adopted extensively in North America as it is considered a lightweight protective packaging solution.
Sealed Air Corporation – a leading player in the North America protective packaging market introduces innovative packaging systems
Most of the key players in the global protective packaging market are based in the North America region, mainly in U.S and in Canada. US-based Sonoco Products Company grabbed more than 60% revenue in North America in 2015. U.S based Sealed Air Corporation introduced innovative packaging systems such as bubble wrap and AirCap air cellular packaging, Cryovac performance shrink films, shanklin floWrap shrink packaging systems, jiffy mailers, korrvu suspension and retention packaging, instapak polyurethane foam packaging systems, PakNatural loose fill, and RestoreÒ Mushroom packaging.
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Revenue generated by the global mobile application testing solution market is estimated to reach US$ 2.2 Bn by 2016, witnessing an increase of 17.2% over 2015. The market is estimated to reach US$ 13.3 Bn in revenues by 2026, increasing at a CAGR of 19.5% during the forecast period. Requirement for immediate regression testing with enhanced growth of m-commerce is expected to drive the demand for mobile application testing solutions worldwide. Trends such as Bring Your Own Device (BYOD) and enterprise applications are likely to boost demand in the corporate sector.
The global mobile application testing solution market is segmented on the basis of – Type (Interactive Testing, Automated Testing); Platform (Android, iOS, Windows, RIM, Others); Device (Smartphones, Tablets); and End Users (Residential, Corporate). The Interactive Testing segment is estimated to be the largest segment by value in the mobile application testing solution market by 2016, accounting for US$ 1.2 Bn by 2016. In the platform segment, Android is estimated to increase at the highest growth rate in the forecast period (20.2% CAGR), followed by iOS (19.7% CAGR). The smartphones segment is expected to expand at the highest CAGR of 19.6% in terms of value during the forecast period, followed by the tablets segment (19.2% CAGR).
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Trends and factors influencing the market
The global mobile application testing solution market is anticipated to witness significant revenue growth during the forecast period, owing to a rising demand across commercial and corporate sectors. Requirements for regression testing, the need to tackle issues caused due to device diversity, and increasing mobile applications such as m-commerce are the major drivers for the rise in demand for mobile application testing solutions globally. Demand for mobile application testing solutions is strongly associated with the growth of the IT sector globally. IT firms are investing more money to meet increasing customer demands to improve mobile application testing. This is expected to drive growth of the mobile application testing solution market worldwide over the forecast period.
An increasingly agile mobile environment and higher demand for interactive testing over automated testing are the major challenges faced by mobile application testing solution providers globally. Major opportunities for growth in the global mobile application testing solution market lie in the expansion of the IT sector and introduction of new technologies. These factors are expected to help enhance the quality of mobile application testing solutions in the near future.
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Market projections based on geography
The global mobile application testing solution market is expected to represent incremental opportunity of US$ 11.04 Bn between 2016 and 2026. North America is expected to be the largest revenue generator for the mobile application testing solution market by 2016 and is expected to increase at a CAGR of 18.1% over the forecast period. The Asia Pacific region is estimated to be the second largest global mobile application testing solution market and is expected to register high Y-o-Y growth through the forecast period. The Asia Pacific market is estimated to expand at a CAGR of 25.3% in terms of value over the forecast period.
Key market players
Leading players such as CA Technologies, Cognizant Technology Solution Corporation, Hewlett Packard Enterprise, etc. are focussing on improving the mobile application testing process to consolidate their position in the market. Mergers and acquisitions and joint ventures remain a key strategy in the global mobile application testing solution market; for example, over the last few years, companies such as IBM Corporation, Microsoft Corporation, and SAP SE have significantly increased their footprint in the global mobile application testing solution market by entering into strategic partnerships with regional market players.
Australia’s corrosion protective coatings and acid proof lining market is anticipated to register a healthy CAGR of 3.6% in terms of volume and 4.8% in terms of value over a 10-year period (2016–2026). Sales of corrosion protective coatings in Australia was valued at US$ 653.7 Mn in 2015 and is expected to account for US$ 1.1 Bn by the end of 2026. Sales of acid proof lining was valued at US$ 8.2 Mn in 2015 and is expected to account for US$ 13.4 Mn by the end of 2026.
Corrosion protective coatings are formulated to protect structures from degradation caused due to exposure in extreme corrosive environments. The basic function of corrosion protection coating or lining is to act as a barrier between the material and the corrosive environment. Acid proof lining is extensively used to provide robustness and mechanical integrity to equipment and components used in industrial operations. It protects the floor, walls, equipment, and process vessels used in industrial operation from the corrosive action of strong acids, alkalis, water vapour etc. In addition to several corroding chemicals, acid proof lining helps impart resistance against thermal shock, abrasion, high impact, and mechanical stress.
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Drivers, Restraints, and Trends
The growth of corrosion protection coating and acid proof lining is predicted to be driven by several factors such as a promising growth of the mining industry and steady economic growth in Australia. Further, a shifting trend towards using waterborne technology and increasing globalisation among players is predicted to fuel the demand for corrosion protective coating and acid proof lining in major end-use industries.
Enforcement of stringent environmental regulations set by the Australian Paints Approval Scheme (APAS) and other organisations has reduced the usage of anti-corrosion coatings formulated using solvent based technology. This is likely to reduce the demand for solvent based corrosion protective coatings in Australia significantly. Fluctuations in raw material prices owing to a volatile oil and gas market is anticipated to adversely impact the growth of the corrosion protective coatings and acid proof lining market over the forecast period.
The market for corrosion protective coatings and acid proof lining in Australia is likely to witness key trends in the coming years. Leading market players are focusing on providing sustainable solutions to reduce environmental footprint. This has led to an increasing use of waterborne corrosion protective coatings and thermoplastic linings. There is also a continuous market consolidation – top companies are engaging in strategic acquisitions and collaborating with domestic players to strengthen their market position.
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Market projections (2016–2026)
The Australia corrosion protection coatings and acid proof lining market has been segmented on the basis of product type into polymer coatings, rubber lining systems, and acid proof linings. In terms of value, the polymer coatings segment is anticipated to expand at the fastest CAGR of 4.9% over the forecast period. The acid proof lining segment is projected to expand at a value CAGR of 4.6% over the forecast period.
The Australia corrosion protection coatings and acid proof lining market has been segmented on the basis of end-use industry (marine, oil and gas, power generation, transportation, chemicals, mining and metallurgy, water treatment, others). The mining and metallurgy industry segment is estimated to expand at a volume CAGR of 3.5% and a value CAGR of 4.7% over the forecast period. The oil and gas industry segment is expected to be the fastest growing segment expanding at a volume CAGR of 4.4% and a value CAGR of 5.6% over the forecast period.
Key market players
Key players across Australia’s corrosion protective coatings and acid proof lining market value chain include manufacturers, service and solution providers, and installers/suppliers/contractors/testing companies. Top manufacturers operating in the Australia market include Jotun Australia Pty Ltd, Akzo Nobel Australia Pty Ltd, Corrocoat Engineering Pty Ltd, REMA TIP TOP Industrial Australia PTY Ltd, Steuler KCH Australia Pvt Ltd, Covestro Pty Ltd, Townsend Chemicals, Era Polymers Pty Ltd, Metz Specialty Materials Pty Ltd, Kaefer Novacoat Pty Ltd, Weir Minerals Australia Ltd, Denso (Australia) Pty Ltd, Flight Extruded Plastics, Stebbins Australia Pty Ltd, and Rubbertec Australia Pvt Ltd.
The global residential robotic vacuum cleaner market will possibly attain a value worth US$ 1,491.0 Mn by 2016, up from US$ 1,255.0 Mn recorded in 2015. In-house robotic vacuum cleaner will remain a leading product type segment, whereas Europe will continue to be the largest regional market for residential robotic vacuum cleaner.
Rising urbanisation is the primary factor fuelling the demand for robotic vacuum cleaner. In addition, vacuum cleaners are gaining higher traction since the past few years owing to busy lifestyle of people worldwide and lesser time dedicated to household chores. Increasing consumer inclination toward automated cleaning devices is another key factor driving the growth of the global residential robotic vacuum cleaner market. Robovacs or residential robotic vacuum cleaners are lightweight, compact, portable, and possess intelligent sensors for efficient cleaning. These features, in addition to time and energy efficiency, collectively escalate the demand in market.
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Consumers nowadays are highly concerned about indoor air quality and indoor air pollution management. This is anticipated to hold a positive influence on the demand. Greater emphasis on health and hygiene will remain an important factor impacting the adoption positively. Increasing prevalence of asthma and allergic conditions spur the sales of HEPA filter-equipped vacuum cleaners. Growing awareness about managing indoor air pollution and increasing adoption of automated home appliances in developing countries will be a major factor influencing the demand in near future.
Rising R&D investments and launches of innovative products, such as vacuum cleaners with spinning brushes, UV sterilisation, and security cameras are foreseen to strongly support the market growth. Discovery of stair-climbing robot cleaner is identified to create lucrative growth opportunities. In 2015, iRobot Corporation introduced an advanced robotic vacuum cleaner (Roomba 980) that has in-built adaptive navigation, visual localisation, and connected app control. It is designed for enhanced efficiency on carpets. However, higher costs and stringent energy-efficiency regulations are likely to challenge the market growth.
Based on the robot type, the global market for residential robotic vacuum cleaner is classified into in-house and outdoor robot segments. In terms of value, the in-house robot segment is projected to reach US$ 1,221.8 Mn, accounting for over 81% market share by the end of 2016. Outdoor robot segment, with merely 18% share in 2016, is likely to witness a stellar Y-o-Y growth of 29.5% in 2017 over 2016.
By the mode of charging, the global residential robotic vacuum cleaner market is segmented into manual charging and auto battery charging segments.
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Based on geography, the market for residential robotic vacuum cleaner is fragmented into five key regional markets viz. North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Europe will remain dominant with around US$ 665.0 Mn revenues and 44% market value share by 2016 end. APAC will continue to be another key market with over 18% market value share in 2016. MEA is identified to be the fastest growing region.
Some of the leading companies operating in the global market for residential robotic vacuum cleaners, include Neato Robotics, Inc., Yujin Robot, Co., Ltd., Robot Corporation, Dyson Inc., Ecovacs Robotics, Inc., Hayward Industries, Inc., Samsung Electronics Co., Ltd., Philips Electronics N.V, Pentair plc, and Milagrow Business & Knowledge Solutions (Pvt.) Limited. Most of the key players are currently focusing on innovative product development to take over the competition.
Long-term Outlook: Over 2016-2021, the global residential robotic vacuum cleaner market is estimated for a robust CAGR of 12.0%, reaching a value beyond US$ 2.4 Bn by 2021 end.
The global peripheral intravenous catheter market is expected to observe steady growth in 2016, reaching beyond US$ 3.8 Bn by 2016 end. Wide adoption of catheterisation techniques in patient examination, diagnosis, and treatment is anticipated to fuel the demand for PIVC. Rising disease prevalence will play a key role in driving the market growth. North America is likely to remain the largest market; Asia Pacific is expected to emerge at the fastest rate.
Soaring disease prevalence will remain a prominent factor driving the demand for catheterisation, in turn pushing the market for PIVC. Apart from its usage in drug administration, increasing adoption of peripheral intravenous catheter in body fluid collection during a patient’s physical examination, is also identified to be a key driver to market growth. Prevalence of infections and epidemics are expected to further spur the demand for catheters in hospitals, clinics, ambulatory surgical centres, home healthcare units, and other healthcare centres. In addition to constantly enhancing healthcare infrastructure, the healthcare spending of consumers is also on the rise, which will favour the market growth.
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Technological advancements in PIVC will particularly hold a positive impact on sales, boosting the market. Peripheral intravenous catheter is considered superior to its other counterparts, which will continue to drive adoption as a preferred option over other catheter types, eventually supporting the sales of PIVC. Moreover, there have been rising efforts toward manufacturing peripheral intravenous catheter using non-irritant, user-friendly material. Moreover, manufacturers are targeting PIVC design improvisation to eliminate the associated complications. This is projected to be a major factor positively influencing the market growth.
A few qualitative and technological complications associated with material composition, design, and after-effects of PIVC are expected to continue affecting mass adoption. In addition, market growth may be restricted due to expensive prices of peripheral intravenous catheter, especially in emerging economies. Conventional PIVC sales can also witness a drop owing to certain stringent medical device regulations in some of the developing countries.
By product, short peripheral intravenous catheter segment will remain dominant over integrated/closed peripheral intravenous catheter segment. Short PIVC segment is further sub-segmented into ported PIVC and non-ported PIVC. While short PIVC segment is expected to register the largest market share of over 71% in 2016, integrated/closed PIVC segment will witness significant Y-o-Y growth of 8.2%. Among the two sub-segments of short PIVC, non-ported PIVC is likely to remain dominant over ported PIVC.
On the basis of technology, safety peripheral intravenous catheter will continue to gain higher traction than conventional PIVC.
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Based on end-user, hospitals segment is likely to generate the maximum PIVC demand. Ambulatory surgical units will also record decent demand. Peripheral intravenous catheter will register maximum revenue sales in 2016 in hospitals, accounting for over 60% market share. Ambulatory surgical units will remain the second most lucrative PIVC end-user segment.
By region, North America is expected to continue the leading position with around 45% share of the entire market revenues in 2016. Europe will continue to be the second largest market for PIVC with a value of over US$ 1.0 Bn in 2016. Asia Pacific is anticipated to emerge as the fastest growing region. Compared to a 5.8% of Y-o-Y of North America, APAC will witness a stronger Y-o-Y growth in 2017 over 2016.
Some of the leading players in peripheral intravenous catheter market, include Becton Dickinson and Company, B. Braun Melsungen AG, Smith Medical, C. R. Bard, Inc., Vygon Group, Terumo Corporation, and Tangent Medical.
Long-term Outlook: Global peripheral intravenous catheter market is slated to reach the revenues worth US$ 5.22 Bn by 2021.
Constant research ongoing in the field of proteomics and rising prevalence of AIDS will collectively contribute to the demand for western blotting technique. The global western blotting market is expected to reach a value of US$ 551.0 Mn by 2016 end. Developing economies in Asia Pacific will remain the most lucrative markets for western blotting, whereas North America will continue to lead the market globally.
Surging incidences of AIDS will continue to affect sizeable populace worldwide. Being considered as the gold standard and confirmatory test for HIV diagnosis, western blotting will continue to gain demand. Moreover, a range of other applications in a number of verticals, such as life science research, diagnostics, agriculture, food and beverages, and others, will also fuel the demand for western blotting. In addition to hiking funds for proteomics research, technological advancements and innovations in the field of drug development are also likely to foster the demand for western blotting technique.
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Promising introduction of automated western blotting and imaging is expected to fuel the market growth further. The personalised medicines development trend is proliferating, strengthening the market. Rising collaborations between leading pharmaceuticals companies and research institutions, as well as increasing M&A activities among key market players are expected to favour the growth of the global western blotting market.
However, emerging economies will continue to face a challenge of insufficient funding for proteomics research, eventually hampering the western blotting market. Moreover, higher product prices and lower availability may also remain the long-term restraints to market growth. In addition to strict regulations and demand for high-efficiency procedures, widespread availability of alternative techniques will remain a major barrier to mass adoption.
By product, the reagents kits segment will remain dominant over electrophoresis blotting systems and transfer membranes. Reagent kits segment is likely to account for over 61% market share of the 2016 revenues; however, this segment may witness a slight decline post-2016. A higher growth rate will be registered by the electrophoresis blotting systems segment, which is projected to approach a value of US$ 153.5 Mn by 2016 end.
Based on application, the market is classified into five key segments viz. agriculture, medical diagnostics, food and beverages, scientific research, and others. By end-use, pharmaceutical and biotech companies segment will retain dominance, whereas research institutions segment is expected to witness a higher growth rate, followed by diagnostic laboratories segment.
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On the basis of region, North America will remain the leading market with over 34% market value share in 2016. Asia Pacific is anticipated to remain the most lucrative market with over US$ 122 Mn revenues by 2016 end. This growth will be primarily driven by the prominence of bio-clustres present in developing Asian countries, including China and India. Compared to North America’s Y-o-Y growth of 4.8%, APAC is expected to exhibit a higher Y-o-Y of 5.2% in 2017 over 2016.
Some of the key players in the global western blotting market are Thermo Fisher Scientific, GE Healthcare, Bio-Rad Laboratories, and Merck Millipore. Other notable companies are PerkinElmer Inc., EMD Millipore Corporation, Hoffmann-La Roche Ltd., Advansta, Inc., and Bio-Techne Corporation (ProteinSimple Inc.), LI-COR, Inc., and Danaher Corporation (Lumigen, Inc.).
Long-term Outlook: Over 2016-2021, the global western blotting market is foreseen to expand at a CAGR of 5.4%.
Future Market Insights delivers key insights on the global car security system market in a new publication titled “Car Security System Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026”. Global sales of car security systems is estimated to be valued at US$ 6,787.3 Mn by the end of 2016, witnessing a Y-o-Y growth of 4.8% over 2015. North America is estimated to account for a value share of 30.0% in the global car security system market by 2016 end but Asia Pacific excluding Japan (APEJ) is anticipated to gain a higher growth rate throughout the forecast period. In this report, Future Market Insights analyses the factors and trends impacting the growth and performance of the global car security system market.
Increasing sales of new vehicles, along with rising awareness among car owners and a robust aftermarket growth are bolstering the global car security system market. Automobile manufacturers are increasing the deployment of security systems in new vehicles to stand out in competition. Furthermore, increasing adoption of telematics across the globe is enabling easy car monitoring techniques and comfort to car owners with enhancement in car security. However high cost of product and high installation charges are limiting OEM and aftermarket opportunities. Automakers provide more options in their premium car variants which in turn is decreasing the adoption by new vehicle owners. Whereas establishment of new car production plants in countries such as Mexico, Turkey, India and China are increasing car security system market opportunities in these regions.
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The global car security system is segmented on the basis of sales channel (OEM and Aftermarket), product type (immobilizer system, remote central locking system, alarm system and other systems) and car type (Economic cars, Mid-range cars and Premium cars).
On the basis of sales channel, the OEM market segment is expected to dominate globally, but market share of OEM and aftermarket sub-segment is changing from one country to the other. In regions where less cars are produced such as Middle East and Africa, aftermarket segment is a major market and is anticipated to continue to dominate the market in terms of value and volume over the forecast period. There is a strong demand in OEM segment in the regions such as North America, Western Europe and APEJ owing to increasing production of cars and establishment of new production plants. North America has the largest aftermarket share which is expected to decrease over the forecast period.
On the basis of car type, (Economic cars include mini and small cars- A & B segment cars as defined by EEC regulation and SUVs, MPVs & light trucks costing less than US$ 15000, midrange cars include C & D segment cars and SUVs, MPVs & light trucks costing between US$ 15,000- 30,000, and Premium segment cars include E & F segment cars and SUVs, MPVs & Light trucks costing more than US$ 30,000). Midrange cars are anticipated to dominate throughout the forecast period. Whereas economic cars segment are expected to exhibit the highest CAGR over the forecast period. Car security systems used in economic cars are of low value and adds less value to the market. And premium cars are loaded with many security system which increases the security systems value installed per car.
On the basis of product type, the global car security system market is segmented into immobilizer system, remote central locking system, alarm system and other systems which include vehicle trackers, perimeter sensors, ultrasonic sensors and glass break sensors. Others segment is expected to register the highest CAGR in market whereas remote central locking system will continue to dominate in aftermarket and OEM market. Immobilizers are mostly sold in OEM market owing to their large penetration in all the car types.
The global car security system market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa (MEA)). North America is the largest market for car security systems owing to a large aftermarket and higher cost of products. APEJ will dominate the market by 2018 and will continue to increase its share in the future. Japan’s recent downfall in the realm of car production has affected the regional market, but increasing vehicle fleet and increasing car exports will increase Japanese market with a CAGR of 3% over the forecast period.
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Key players in the global car security system market include Valeo S.A., Continental A.G., Delphi Automotive PLC, Hella KGaA Hueck & Co., Tokai Rika Co., Ltd., Mitsubishi Electric Corporation, Denso Corporation, Robert Bosch GmbH, Lear Corporation, Omron Corporation.
Future Market Insights (FMI) delivers key insights on the global sludge treatment chemicals market in its latest report titled, “Global Sludge Treatment Chemicals Market: Industry Analysis and Opportunity Assessment, 2016–2026”. Global consumption of sludge treatment chemicals is estimated to be pegged at 10,977 thousand tonnes by 2016 end and is expected to increase at a CAGR of 4.7% over the forecast period (2016-2026). The global sludge treatment chemicals market is projected to reach a value of US$ 10,944 Mn by 2026 end expanding at a CAGR of 4.8% during the forecast period. North America is estimated to account for relatively large market share of 32% by 2016 in the global sludge treatment chemicals market.
Demand for sludge treatment chemicals is expected to increase at a significant pace across municipal and industrial sludge treatment plants owing to the stringent regulations by the government and environmental agencies like Environmental Protection Agency (EPA) in North America. Increasing awareness among public and lack of availability of fresh water resources are also major factors expected to drive demand for sludge treatment chemicals market worldwide. Rapid industrialization results in an increase in industrial sludge production which needs to be treated, thus supporting the market growth over near future. Major market players are focusing on mergers and acquisition strategy to expand their product portfolio and footprints worldwide. However, the introduction of membrane technology and sustainable products have changed consumer demand for sludge treatment technologies with a lower chemical consumption. This factor is expected to restrain the growth of sludge treatment chemicals market over the forecast period.
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The global sludge treatment chemicals market is segmented on the basis of product type, application, treatment, and region. On the basis of application, the global market is segmented into municipal and industrial sludge treatment chemicals.
On the basis of product type, flocculant segment is expected to dominate the market share throughout the forecast period. However, disinfectant segment is expected to expand at a significant rate over the forecast period.
Municipal application segment is expected to be the largest segment in terms of revenue throughout the forecast period, due to the increasing investments by the government in establishing sludge treatment plants.
On the basis of treatment, primary treatment continues to dominate as the most attractive segment in terms of market share over the forecast period. The primary segment is expected to hold 56.6% of the market share by 2026 end.
Tertiary treatment segment is expected to expand at a relatively high CAGR of 5.1% over the forecast period.
On the basis of region, Asia Pacific is expected to witness a relatively high CAGR of 6.0% in terms of revenue over the forecast period. North America and Western Europe are expected to contribute significant revenue share to the global sludge treatment chemicals market throughout the forecast period. Stringent regulation pertaining to the treatment of sludge has led to long term supply agreements.
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Some of the key players identified in the global sludge treatment chemicals market are BASF SE, Chembond Chemicals Limited, GE Water and Process Technologies, Kurita Water Industries Ltd., Kemira Oyj., Thermax Ltd., Akzonobel N.V., Solenis, Veolia Water Technologies etc.
Strengthening of supply chain, particularly in regions such as APEJ and Latin America, is key focus area for players in this market. Manufacturers are focused on developing multifunctional polymers which could help in cost cutting and improved efficiency. A number of sludge treatment chemicals manufactures have been involved in strategic mergers and acquisitions to expand their customer base globally.
Refurbishing of ageing manufacturing plants and pumping systems, combined with increasing exploration activities for new sources of water is driving global demand for centrifugal pumps. However, long replacement cycles and proliferation of low cost pumps made in China, can pose challenges to growth. These insights are according to FMI’s new report, “Centrifugal Pumps Market: Global Industry Analysis and Opportunity Assessment, 2015-2025”, which estimates global centrifugal market revenues to increase at 4.6% CAGR and reach US$ 48.3 Bn by 2025.
The key trends identified in the centrifugal pumps market include preference for energy-efficient centrifugal pumps, high adoption of micro-disc pumping, and incorporation of variable frequency drive technology. Reducing the pump life cycle costs and development of supply chain network are key opportunities that leading players will look to leverage on going forward.
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FMI’s report offers 10-year forecast on the basis of product type, end-use, and region.
Key centrifugal product types covered in the report include,
Axial & mixed flow pump
Sealless and circulator flow pump
Among these, demand for submersible pumps is the highest, with this segment accounting for nearly 28% revenue share of the global centrifugal pump market in 2015. FMI estimates demand for submersible pumps to increase at 5.4% CAGR through 2025.
On the basis of end-use, the centrifugal pump market has been segmented into,
According to FMI, the industrial segment accounts for the highest demand for centrifugal pumps, representing nearly 67% revenue share in 2015. Key application areas where centrifugal pumps are used in the industrial segment include chemicals, water and wastewater treatment, power, oil and gas, pharmaceuticals, and food and beverage.
Region-wise, the report offers market analysis and forecast for North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA).
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Asia Pacific excluding Japan (APEJ) is the largest market for centrifugal pumps globally, with China and India accounting for significant revenue contribution to the global market. Many economies in APEJ, especially in ASEAN, are agriculture-driven, and this is creating sustained demand for centrifugal pumps in the region. Increasing arable land under cereal production, combined with micro-irrigation trend is expected to increase the deployment of small capacity centrifugal pumps in APEJ.
Key players operating in the global centrifugal pumps market include ITT Corporation, KSB AG, Flowserve Corp, Sulzer AG, Ebara Corporation, Grundfos AG, Weir Group Plc, Wilo SE, Xylem Inc, Ruhrpumpen Group and Vertiflow Pump Company.
“Temperature Controlled Pharmaceutical Packaging Solutions (TCPPS) Market: Global Industry Analysis and Opportunity Assessment, 2016-2026”, FMI’s latest report estimates the global temperature controlled pharmaceutical packaging solutions market to increase at 9.3% CAGR through 2026. The report estimates the market to rake in US$ 2.77 Bn in revenues by the end of 2016.
What’s Driving Global Demand for Temperature-controlled Packaging Solutions?
Focus on preventing temperature excursion and delivering drugs in a timely manner without any degradation in quality are the biggest challenges for pharmaceutical industry currently. Temperature-controlled packaging’s effectiveness in addressing these challenges is driving adoption across end-use industries. Reusable packaging and technology advancements that enable access to real-time temperature data are the key trends expected to shape the market in the future.
FMI’s report offers 10-year market forecast and analysis on the basis of product type, application, and region.
On the basis of product type, FMI’s report has segmented the market into insulated shippers, insulated protective shippers, insulated containers, and others (refrigerants, gel, icepacks, phase change materials etc.).
Insulated containers are expected to witness high demand in Asia Pacific excluding Japan (APEJ), whereas insulated shippers are anticipated to gain traction in North America during the forecast period. FMI estimates demand forinsulated protective shippers to be the lowest among all the product-types.
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On the basis of application, the TCPPS market has been segmented into,
Among these, the chilled application segment is expected to increase at the highest CAGR during the forecast period.
Region-wise, North America, Western Europe, and Asia Pacific excluding Japan (APEJ) are the three largest markets for TCPPS globally. The APEJ TCPPS market is expected to expand at a higher than average CAGR owing to increased use of temperature-controlled packaging solutions for pharmaceuticals in biologics and in treatment of rare diseases in the region.
The Latin America TCPPS market is anticipated to account for 4.7% revenue share of the overall global market by 2026. The market in the region is expected to be driven by rapid investment in the pharmaceuticals sector in the region.
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The TCPPS market in Eastern Europe is estimated to witness an average increase in revenue due to lower GDP growth in the region.
Key companies profiled in the report include Sonoco Products Company, Pelican Biothermal, Cryopak, Sofrigam SA Ltd., Envirotainer Ltd., and American Aerogel Corporation.
Over the years, the lead acid battery market has witnessed various product innovations including advanced lead acid batteries, absorbed glass mat, valve regulated lead acid batteries, sealed lead acid batteries, and others. The global automotive lead acid battery market is projected to register a CAGR of 4.2% in terms of value during the forecast period (2016 - 2026).
In this report, Future Market Insights (FMI) examines the factors impacting market growth and offers detailed insights for informed decision making.
Key market drivers and trends
The growth of the global automotive lead acid battery market is influenced by a number of factors including increasing vehicle production resulting from a promising vehicle sales outlook in developing economies, increasing production of hybrid and electric vehicles, rising vehicle electrification, research and development collaborations, and stable automobile production. Low maintenance and replacement costs and growing adoption of advanced automotive technologies such as start-stop further contribute to the growth of the market. Key trends observed in the global automotive lead acid battery market include advancements in lead acid battery technology, reduction in battery size, and long-term supply contracts between battery suppliers and automotive OEMs.
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The overall market approach adopted by manufacturers of automotive lead acid batteries includes strengthening of the supply chain particularly in regions such as Asia Pacific and
Latin America. Manufacturers are also focused on developing high-quality automotive lead acid batteries adhering to regulations and OEM specific requirements. Suppliers of automotive lead acid batteries cater to the specific requirements of automakers, while adhering to high quality standards of production. A number of automotive lead acid battery suppliers have long-term suppliers’ contracts with OEMs for providing automotive lead acid batteries as per the specific requirements.
Market projections based on region
The global automotive lead acid battery market covers five major regions -- Asia Pacific, North America, Latin America, Europe, and Middle East & Africa (MEA). In terms of value, Asia Pacific has been estimated to account for the largest share in the global automotive lead acid battery market – with over 33% market share in 2015 – followed by Europe and North America. Among all the regions, the Asia Pacific market is anticipated to register the highest CAGR over 2016 - 2026, followed by Middle East & Africa (MEA). The market in MEA is in the nascent stage, primarily due to low automotive production and vehicle parc.
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The Asia Pacific region is expected to emerge as the fastest growing market in the global automotive lead acid battery market over the forecast period. The market in the region in terms of value is expected to expand at a CAGR of 6.4% over the forecast period. The Middle East & Africa automotive lead acid battery market is expected to expand significantly in terms of revenue after Asia Pacific. The market in the region is slated to grow at a CAGR of 5.5% during the forecast period. The markets in Latin America and North America are expected to expand at moderate CAGRs of 3.07% and 3.05% over the forecast period. The North America automotive lead acid battery market is expected to reach a value of US$ 6,720.4 Mn by 2026. In Europe, the automotive lead acid battery market is expected to be the slowest growing in the global automotive lead acid battery market. The market in the region in terms of value is expected to expand at a CAGR of 2.0% between 2016 and 2026.
Pest control is a process for regulation and management of different living organisms that are harmful for human population. Pests such as termites, bedbugs, cockroaches, certain reptiles and other unwanted organisms affect day-to-day life and hinder human activity by interfering in agricultural, residential, commercial and industrial processes. Pest control management is carried out to eliminate pests and ensure hygiene and healthy lifestyle. Pest control management can be done with the help of various techniques, such as chemical control, mechanical control, and other pest control.
Market Value and Forecast
The global pest control services market has been estimated to be valued at US$ 16,007.2 Mn by 2015-end and is expected to expand at a 5.4% CAGR over the forecast period (2016–2026).
Growth of the global pest control services market is driven increasing pest population, attributed to the largely available food sources for small organisms and conducive living habitats. Besides, growing consumer awareness concerning health and hygiene in developed and developing countries is further fuelling market demand for pest control services. Other promising factors, such as easy availability of pest control service providers and increasing economic activity are also contributing to the growth of the market for pest control services. Changing global climate conditions conducive for the growth and evolution of pests, which affect human health, is projected to further boost demand for pest control services. International tourism is also an upcoming and prominent factor driving rise in demand for different types of pest control services. According to the statistics, there has been a 17.3% rise in influx of international tourists between 2010 and 2014, which is expected to increase to about 60% by the end of 2030.
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Market Segmentation by Application
On the basis of application type, the market is categorised into ant control, bedbug control, beetle control, bird control, cockroaches, mosquitos & flies control, rat & rodent control, termite control and other applications such as moisture control, repellers, etc. Among these application segments, the termite control segment is expected to witness the highest growth over the forecast period.
Market Segmentation, by Service
Based on service, the market is segmented into three classes, namely chemical control service, mechanical control service and others. The chemical control service segment is further divided into two categories, i.e. organic chemicals and inorganic chemicals. The chemical control service segment is expected to expand at the highest CAGR over the forecast period.
Market Segmentation by End – User
Based on end user, the market is segmented into four main categories, namely residential, commercial, industrial, and agriculture. According to statistics, currently, the commercial end user segment accounts for the highest market revenue, whereas the agriculture segment is expected to expand at the highest CAGR over the forecast period.
In this report, the global pest control services market has been segmented into seven major regions, namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the North America market accounts for the maximum revenue share of the overall market followed by Western Europe. The North America Pest Control Services market is expected to expand at a CAGR of about 5.0%, and dominate the market in terms of value during the forecast period. Meanwhile, the APEJ market is expected to expand at the highest CAGR of above 6.0%, due to the increasing demand for maintaining better hygiene standards and high health care expenditure in the region. The APEJ market is very closely followed by the Latin America and the MEA market. The Western Europe market is expected to expand at a slow growth rate, followed by the Japan market. Among all the regions, the Eastern Europe market is expected to expand at a moderate CAGR of 5.7% over the forecast period.
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Some of the major players in the global pest control services market covered in this report are Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. (Terminix), Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc. and Dodson Brothers Exterminating Company Incorporated. The report also describes company-specific strategies related to key developments and market consolidation initiatives by key players.
According to a recent market report published by Future Market Insights titled, “OTT Content Market: Global Industry Analysis & Opportunity Assessment, 2016-2026,” the global OTT content market was valued at US$ 47.7 Bn in 2015 and is expected to reach a market valuation of US$ 53.2 Bn by the end of 2016. Growth of this market is driven by several factors and trends impacting the global delivery of content and in this report, Future Market Insights throws light on the key drivers, trends, and restraints influencing the growth of the global OTT content market during a 10-year forecast period (2016 – 2026).
Over-the-top content (OTT) is the delivery of audio, video, images, and other media over the internet and bypasses traditional content distribution. OTT services are mostly related to communication and media and are generally lower in cost than traditional methods of content delivery. Forms of current usage of OTT include OTT voice via VoIP for local and long distance calls, video chat / conferencing, pure (short) messaging, social networking and retailing, and OTT video services. According to Future Market Insights analysts, increasing penetration of high speed data networks, increasing mobile subscriptions, rising adoption of mobile connected devices, and new features and advanced capabilities in smartphones are some of the major factors driving the growth of the global OTT content market. Additionally, attractive pricing and more content options along with favourable regulations are some other factors propelling the growth of the global OTT content market.
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The global OTT content market is segmented on the basis of Content Type (VoIP, Text and Images, Music Streaming, Video); Revenue Model (SVOD, AVOD, TVOD, Others (User generated content, Linear OTT, and TV everywhere)); and Device / Platform Type (Desktop and Laptop, Gaming Consoles, OTT Streaming Devices, Smartphones and Tablets, Smart TVs, Others (Internet blue ray players)).
The Video content type segment accounted for a relatively high revenue share and was valued at US$ 24.4 Bn in 2015. This segment is expected to remain dominant through 2026
The AVOD revenue model segment accounted for a relatively high revenue share and was valued at US$ 17.3 Bn in 2015. This segment is expected to remain dominant through 2026
The Smartphones and Tablets device / platform type segment accounted for a relatively high revenue share and was valued at US$ 19.1 Bn in 2015. This segment is expected to remain dominant through 2026
The global OTT content market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. The North America OTT content market accounted for a relatively high revenue share of the global OTT content market and was valued at US$ 21.4 Bn in 2015. This high value share can be attributed to the availability of high speed internet connectivity, high penetration of smartphones, high disposable income, and presence of several well-established OTT content providers in North America. The APEJ OTT content market is anticipated to register high Y-o-Y growth rates throughout the forecast period and this market is projected to be the most attractive market in the global OTT content market in terms of revenue.
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Some of the top companies operating in the global OTT content market include Akamai Technologies, Amazon.com Inc., Apple Inc., Facebook Inc., Google Inc., IBM, LeEco, Limelight Networks, Microsoft Corporation, and Netflix Inc. Several Indian companies have also entered the OTT content market in a big way. Some of the Indian OTT content market players include Star India Pvt. Ltd., Zee Entertainment Enterprises Ltd., Spuul, Eros International Plc., and Viacom 18 Media Pvt. Ltd. Top OTT content market players are developing innovative marketing and distribution channels to enter and rule untapped markets.
The global mass notification systems market, valued at US$ 3.4 Bn in 2015, is expected to register impressive growth in revenues, reaching at US$ 3.8 Bn by 2016 end. Driven by government initiatives toward public safety, the market is anticipated to witness the highest growth in North America.
Burgeoning industrialisation and favourable initiatives by various governments regarding public safety, are the key factors identified to drive the mass notification systems market globally. In addition, increasing cyber threats with evolving nature is another factor expected to propel the demand for high quality, technologically advanced, reliable mass notification systems, which could provide better security against cyber-attacks.
Mobile-based mass notification apps are currently trending the mass notification systems market, with an aim of better, convenient, and rapid management through user-friendly, interactive dashboard. In addition, several healthcare and educational organisations are increasingly adopting duress-based solutions, in combination with mass notification systems. Moreover, a large number of companies in the BFSI sector is deploying mass notification systems for enhanced incident management capabilities.
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The global mass notification systems market is segmented into hardware, software, and services, based on the product type. The hardware segment is projected to account for the highest revenue share in the global market. According to the application, FMI’s research indicates that the business operation segment will dominate all other application segments, including business continuity and disaster recovery, interoperable emergency communication, and integrated public alert and warning. Integrated public alert and warning segment is anticipated to be the second largest application-based segment.
Based on the solution, the distributed recipient solution segment is expected to grow at a higher pace, compared to in-building and wide area solutions. Among several end-user verticals in the mass notification systems market, the commercial sector is predicted to dominate healthcare, defence, automotive, energy and power, transport and logistics, education, and government sectors.
North America will continue to form the largest market for mass notification systems globally. Other key regional markets include Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East & Africa (MEA). Owing to high-paced industrialisation in emerging economies, APEJ is estimated to be the second largest market, growing at a significant rate. Latin America and Western Europe will maintain their major market positions, following APEJ.
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AtHoc, Inc., Honeywell International, Inc., Everbridge, Inc., Siemens AG, Eaton Corporation Plc., and International Business Machines Corporation (IBM) are some of the top players in the global mass notification systems market. Other significant players include Metis Secure Solutions, LLC, Mir3, Inc., Xmatters, Inc., and Omnilert LLC.
The global mass notification systems market is anticipated to expand at a robust CAGR of 12.7% over the forecast period, 2016-2026. North America is expected to expand at a CAGR of 11.4% led by the U.S., while APEJ will expand at the highest CAGR of 17.4% through to 2026.