Technology Market report

Thursday, 24 September 2020

Sand Blasting Machines Market by Airblast B.V., Burwell Technologies, Clemco Industries Corp.

The global Sand Blasting Machines Market is expected to reach USD 441.1 million by 2020, according to a new study by Grand View Research, Inc. Breakthroughs in robotic sand blasting technology as a result of investments by key industry participants is expected to drive the market over the forecast period. Increased demand from end-use industries such as construction, automotive, and aerospace is expected to favorably impact market growth.

Shot blasting machines have replaced sand blasting machines in several applications to alleviate the risk of lung diseases caused due to inhalation of silica, which may pose a challenge to market growth. Governments of many countries such as the U.S., UK and Turkey have restricted the use of blast cleaning abrasives containing more than 0.1% free silica, which may hamper demand over the next six years.

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Further key findings from the study suggest:

Global sand blasting machines market shipments were estimated at 86,018 units in 2013, which is expected to reach 121,845 units by 2020, growing at a CAGR of 5.1% from 2014 to 2020.
Industrial sand blasting machines accounted for over 80% of the market revenue in 2013. The mini sand blasting machines market is expected to gain prominence over the next six years as sandblasting has substituted numerous domestic tasks such as paint and rust removal.
Sand blasting machines market demand is expected to be the highest in Asia Pacific owing to extensive use in construction, automotive, and infrastructure sectors coupled with significant contribution by the Chinese market to global volume and revenue generation. Demand for mini sand blasting machines is higher in North America, where they are used for automotive as well as home improvement applications.
The market is extremely fragmented in nature; Clemco Industries Corp. emerged as the leading market player in 2013. The company sells blasting machines under four distinct brands, each catering to a specific application area, and also develops equipment targeted at operator safety. Other market players include Trinity Tool Company, Tools USA, C.M. Surface, and ACE.

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Wednesday, 23 September 2020

U.S. Energy Management Systems Market: Industry Size, Share, Demand, Analysis & Forecast, 2024

The U.S. Energy Management Systems Market is expected to reach USD 23.49 billion by 2024, according to a new report by Grand View Research, Inc. The growing interest towards efficient energy optimization coupled with stringent environmental regulations and strict international standards have fueled industry growth.

Integration of data analytics and big data to the existing EMS modules has become a major achievement in the industry growth over the past few years.Major companies such as Building IQ, C3 Energy, and Ecova have developed sector-specific software platforms that enable organizations to determine analytically and suggest optimized energy efficient solutions. Aforementioned factors are anticipated to urge the new and established industry players to increase R&D investments and enhance their position in the U.S. market.

Sensors component consumption was the highest and accounted for 35.1% of the U.S. EMS market in 2015 and is expected to reach revenue of USD 7,731.0 million by 2024. Battery components demand was valued USD 349.5 million in 2015. EMS operates the battery to increase self-consumption while it is grid-connected, or can take advantage of variable electricity prices.

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Further key findings from the report suggest:

IEMS was the largest product segment accounting for 58.4% of total revenue in 2015 and is expected to grow at a CAGR of 11.4% from 2016 to 2024
The display devices market was valued at USD 108.9 million in 2015 and is anticipated to reach USD 250.1 million by 2024, growing at an estimated CAGR of 9.6% from 2016 to 2024
Power & energy segment acquired the largest market in terms of application and accounted for 40.8% of the U.S. revenue in 2015. This segment is anticipated to lose share to high growth verticals including retail & offices and healthcare.
EMS demand in commercial sector is expected to reach total revenue exceeding USD 20 billion by 2024 and is expected to remain the largest end-use for energy management systems industry over the forecast period
Key players operating in the industry include Veris, Lutron, Verdant, and NT Network Thermostat and the companies such as Siemens GE, Honeywell, Schneider Electric are integrating the energy management systems for various applications.

Retail POS Terminals Market: Industry Size, Share, Demand, Analysis & Forecast, 2024

The global Retail POS Terminals Market is expected to reach USD 33.41 billion by 2024, according to a new report by Grand View Research, Inc. The paradigm shift in the payment landscape enables the usage of electronic payment technologies.

Retail POS terminals have witnessed a considerable growth in the recent years owing to the rising integration with robust POS platforms and multi-channel selling in stores. The next-generation point-of-sale systems offer high reliability and durability, which have significantly reduced the cost of ownership, thereby increasing the deployment of these terminals in small and medium-sized retails.

With the evolution of modern merchants and retailers, traditional terminals are replaced with tablet and smartphone-based terminals. These devices are difficult to navigate and are less user-friendly for sales support and customers. With the advent of the mobile POS, merchants are recreating shopping experience.

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Further key findings from the report suggest:

Fixed POS terminals are expected to remain the largest segment owing to the reluctance of retailers to adopt mobile POS terminals due to the rising security concerns
The services segment is expected to grow at a CAGR of over 12% from 2016 to 2024. The growing demand for Software as a Service (SaaS) and cloud-based solutions of POS devices is expected to provide growth opportunities
The global urbanization and changing consumer preferences are increasing the footprints in supermarket stores. The efforts retailers are taking to improvise the in-store experience is augmenting the growth for point-of-sale devices.
The North America retail POS terminals industry is anticipated to reach over USD 8.0 billion by 2024.The brick-and-mortar stores and the e-commerce boom are increasing the overall consumption of these devices in the region.
Latin America is expected to grow at a CAGR of over 11.5% over the forecast period. Modern retail formats such as hypermarkets and supermarkets are making inroads in Latin America.With the modernization of retail sector, the region provides a huge growth opportunity for the adoption of these terminals over the forecast period.
The key players in the retail POS terminals market include Toshiba Tec Corporation, Ingenico Group, VeriFone Systems Inc., PAX Technology and NCR Corporation among others. Companies are focusing on providing fully integrated payment solutions to develop technologies in the payment infrastructure.

Tuesday, 22 September 2020

HVDC Power Supply Market: Emerging Trends, Demand, Overview and Future Growth, 2022

The global HVDC Power Supply Market is expected to reach USD 3.56 billion by 2022, according to a new report by Grand View Research, Inc. These devices integrate easily with renewable or alternative energy sources such as photovoltaics, fuel cells, and wind power, and provide considerable avenues for industry growth. The emergence of the hybrid HVDC circuit technology that utilizes Voltage Source Converters (VSC), and is compact in design when compared to traditional design is anticipated to fuel product demand over the next seven years. Further, the HVDC supply industry has also witnessed the development of high power Insulated Gate Bipolar Transistors (IGBT) that has reduced the HVDC system size resulting in substantial economic benefits.

HVDC supply enhance the reliability of an electrical system and is the only possible solution available in the market today; which can be utilized in renewable energy sources. The ability of these products to efficiently transmit bulk power over long distance has significantly contributed to the development of direct-drive wind turbine, which supports the sustainable development of the current energy infrastructure.

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HVDC Power Supply Market Report Highlights

The industrial segment accounted for over 40% of the overall revenue in 2014 and is estimated to grow at a CAGR exceeding 11% over the forecast period. It can be ascribed to rapid industrialization in emerging countries, such as India and China, along with rising demand for efficient power supply.
The telecommunication application segment is anticipated to witness healthy growth and accounted for over 25% of the market in 2014. It can be primarily attributed to the reliable and long-distance transmission with minimal loss offered by these products. The rapid infrastructure development owing to the widespread usage of the internet may also contribute significantly towards the segment growth.
Over 4,000 V voltage segment accounted for more than 45% of the overall revenue in 2014. It may be primarily ascribed to the enhanced features such as low output noise, creation of an automated high voltage test system, and improved sourcing precision and measurement sensitivity provided by these products.
Asia Pacific HVDC power supply market accounted for over 20% of the overall revenue share in 2014, which may increase over the next seven years. Healthy demand across the transmission grids owing to the ability of these products to connect remotely located electricity generation plants is expected to fuel the demand over the next seven years. Europe is also projected to witness a significant growth owing to increasing emphasis on the use of renewable energy resources in the region.
The notable companies in the market include ABB Ltd., Excelitas Technologies, General Electric, Glassman Europe Ltd., Siemens AG, Spellman, General Electric, UltraVolt, Inc., Toshiba Corporation, and Alstom SA. The leading industry participants emphasize on quality control and testing, wherein manufacturing activities are monitored right up to final testing to ensure that the product is manufactured in conformance with specific customer requirements and industry standards.

Warehouse Management System Market: Key Players and Future Scope, 2025

The global Warehouse Management System (WMS) Market size is expected to reach USD 5.72 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 16.3% during the forecast period. Growing transition towards cloud-based management systems in the warehouse industry is anticipated to boost the demand for WMS based on the Software-as-a-Service (SaaS) model.

Advancements in cloud-based technologies are estimated to fuel the adoption of WMS software irrespective of the size and complexity of the organization where these solutions are used. Surging demand for cloud-based systems can primarily be attributed to medium and small-sized businesses that do not require implementation of advanced warehouse technologies and high-speed automation.

Larger organizations are also switching to cloud-based warehouse management systems as it allows organizations to offload exhausting tasks such as maintenance, infrastructure administration, and timely upgrades, among other tasks that are carried out on the on-premise software. Cloud enables businesses running on conventional on-premise technologies to transit to a platform that will support and cater to their clients’ needs more efficiently. Low upfront cost and shorter implementation time are key factors that are encouraging companies to move toward cloud-based systems.

The drive toward automation is high-paced where manufacturers are focusing on computerization of majority activities while suppliers are developing WMS solutions to support market demand. Demand for custom warehouse management and supply chain operation solutions is poised to grow over time and drive the market.

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Further key findings from the report suggest:

The cloud-based segment is expected to witness a high growth owing to numerous functionalities that cloud-based WMS offers over the traditional on-premise WMS. The segment is estimated to account for just over 55.0% of the overall revenue by 2025
The transportation & logistics segment is projected to rise at the highest CAGR of about 18.0% from 2018 to 2025. This may be attributed to soaring need for technologically advanced warehouse management systems that can help logistics companies to keep their operations aligned with the ever-demanding market
The Asia Pacific WMS market is likely to experience the fastest growth during the forecast period, due to high influx of e-commerce players in the region
Some of the key players in the market are Manhattan Associates, Oracle, HighJump, SAP SE, Synergy Ltd., Tecsys, Reply, Epicor Software Corporation, and PSI Logistics GmbH

Monday, 21 September 2020

Shared Services Centers Market To Be Established By 2022

Over 75,000 Shared Services Centers Market are expected to be established globally by 2022, growing at a CAGR of close to 30% from 2015 to 2022, according to a new report by Grand View Research, Inc.

A shared services center (SSC) is a devoted unit that focuses on defined business functions and is structured as a centralized delivery location and point of service. The unit is responsible for specific functions, such as security, purchasing, compliance, legal, IT, payroll, HR, and accounting.

The growth prospects for this market are bullish due to increased needs for reducing costs and improving the quality of delivered services. Resourceful implementation of SSC in operational stages yields greater operational efficiency and cost reduction, while enhancing productivity. Deployment of SSC framework helps companies to focus on enhancing operations.

Availability of skilled low cost labor, tax relaxation and favorable government initiatives in select geographies such as India, China, Latin America, and some parts of Eastern Europe are envisioned to drive industry growth.

However, the complexity associated with the implementation of such a framework is presumed to challenge industry growth, as it involves the assigned tasks to be performed and shared dynamically across the various business units involved. To achieve cost reduction, organizations operate in a low cost location. However, doing so without the standardization of procedures is expected to increase the organization’s inefficiency and is expected to hinder SSC establishments.

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Further key findings from the report suggest:

Poised to witness considerable growth over the next seven years, pharmaceutical & clinical end-use accounted for 11% of the overall market share in 2014. Rapid increase in the need to reinvent traditional pharmaceutical R&D model to continue developing new products cost-effectively and efficiently, and adjust to the industry’s new realities is expected bolster demand over the forecast period.
Projected to grow at an estimated CAGR of 35% from 2015 to 2022, legal end-use is expected to drive the SSC industry over the forecast period. Over the last few years, emergence of new technologies coupled with the need to reduce costs in the wake of global downturn has significantly forced corporate legal departments and law firms to change their traditional business approach and to adopt shared services and outsourcing associated with the legal profession.
BFSI end-use accounted for over 20% of the overall revenue in 2014, and is presumed to witness significant growth in the market share over the forecast period, owing to the emerging trend among companies to enhance global presence and customer satisfaction. Availability of huge and highly educated workforce, lower wages, and improved English capabilities in countries across Asia Pacific and Eastern Europe are envisioned to boost industry growth.
Projected to grow at an estimated CAGR of over 25% from 2015 to 2022, manufacturing end-use is expected to witness healthy growth in the foreseeable future. Organizations consider Asia Pacific as the most attractive market for off-shoring destination owing to the lower wages, higher employment rates, availability of pool of talents, and skilled and educated employees in the region, which are expected to drive industry growth.
The Asia Pacific regional market is poised for high growth throughout the forecast period. It accounted for close to 30% of the overall market share in 2014. Close-knit cultural homogeneity coupled with low-cost arbitrage has made the Asia Pacific region a preferred destination for SSC establishment.
The presence of a large number of universities, eventually enabling access to skilled labor force, multi-lingual skills in professionals coupled with cultural similarity to Western Europe is presumed to have driven growth in the European region.

IoT Market: Growth Drivers and Prospects, 2022

The Internet Of Things (Iot) Market was worth USD 605.69 billion in 2014 owing to rising requirement for internet connectivity worldwide coupled with technological advancements. The emergence of start-ups in different industries to satisfy growing need of consumers is anticipated to result in increasing venture capital investments. The market is estimated to grow at 15.2 % to reach over USD 1.88 trillion by 2022.

IoT market is projected to increase at a significant pace on account of its ability to improve efficiency and enable new services. IoT connects devices including industrial equipment and consumer electronics through a network that allows users to gather information and manage devices via software. Key factors that are expected to propel future growth include improving connectivity and internet access, data processing requirements and decreasing costs of internet enabled sensors. In addition, the market is likely to witness significant growth opportunities over the forecast period owing to increase in demand for gadgets such as wearable devices and futuristic elements including connected homes, vehicles, and cities coupled together with industrial internet of things (IIoT)

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The absence of universally accepted standards that give rise to security and privacy issues are expected to hamper growth in the industry. Moreover, the introduction of stringent rules and regulation in the U.S and Europe to tighten data security and privacy for internet users are anticipated to restrict further market growth.

The global IoT market was dominated by device segment comprising of sensors and modules and contributed to over 30.0% of the overall market in 2014. The device segment is projected to witness significant growth opportunities through introduction of innovative IoT platforms as a substitute for competitor devices such as HomeKit by Apple Inc and Brillo by GoogeInc

A significant revenue share in the IoT market is anticipated to be occupied by the consumer electronics application segment followed by manufacturing and retail. The introduction of new concepts such as connected cars in the transportation sector is expected to propel demand for IoT over the forecast period. In 2014, about 25.0% of the overall industry was acquired by this segment.

Emerging economies such as Japan, India and China are expected to be the key drivers of IoT industry on account of manifestation of major component and technology manufacturers such as Huawei and Samsung coupled with the potential for the high-speed broadband internet. Asia Pacific is thereby projected to grow at a CAGR of approximately 16.0% over the next seven years.

IoT is a dynamic market majorly fuelled by new product developments and enhancements in technology. Organizations are focussing on investing in IoT divisions, innovation labs, and R&D to obtain the first-mover advantage to expand globally and mark their presence. Key companies include major telecom and technology giants such as Alcatel-Lucent, Accenture PLC, Google Inc., Apple Inc., General Electric, IBM, Freescale Semiconductors, SAP SE and Samsung Electronics.