Global Material Handling Equipment Market: Overview
The material handling equipment market has been largely positive with bolster in manufacturing capacities and introduction of new products or innovations in the market. Equipment includes diverse range of tools, appliances, and storage which is leading to an increase in the market size to $145.21 million in 2018 and the market value will grow with compound annual growth rate (CAGR) of 7.50% during the forecast period of 2019-2025.
APAC is positioned as the leading region in the material handling equipment market. Rise in urbanization including the construction of airports, metro lines, and another transportation mode is influxing the demand in the material handling equipment market with the regional share of 38.19% in 2018.
Global Material Handling Equipment Market: Outlook
Material handling equipment is an automated equipment used for storage, controlling, and managing of materials and goods. Material handling equipment is used in the industry which includes operations such as manufacturing, packaging, shipping, and distributing, and they are categorized as positioning equipment, transport equipment, unit load formation equipment, and storage equipment. The goods and materials are required to be arranged in order for which sortation conveyor system is one of best equipment used in the sector.
Shipping is the major application in the material handling equipment market. The growing e-commerce attributed with the features such as online shopping with fastest on door product delivery are gaining traction from wide population. The products in warehouse and storage space need to be packaged properly and arranged section wise to initiate the fastest shipping and distribution that is increasing the demand of equipment which will led to progression with CAGR of 8.10% through to end period.
Global Material Handling Equipment Market: Growth Drivers
· Enhancement in the automation and productivity will help to drive the material handling equipment market.
· Rising Labor cost and safety concerns, various industries are choosing the equipment to improve work efficiency and time reduction are some factors driving the material handling equipment market.
· The growing need for efficient material flow are demanding automated operations that is responsible for growing research and innovation in the material handling equipment market.
· The growing demand for forklifts vehicles and other manageable tools from construction, e-commerce and retail are helping to continue the substantial progress in the material handling equipment market.
Global Material Handling Equipment Market: Trends
· Radio Frequency Identification Tag
Radio frequency identification (RFID) are improving the warehouse structure and hence the supply chains processes. RFID tag enables decentralized autonomous control. RFID are used in monitoring and controlling the flow of goods, use of this equipment also reduce time consumption by reducing product transfer time. Various consumer and industrial benefit associated with thus device is gaining major popularity in the material handling market.
· Innovations in Image-Based Scanning
The increasing innovations in material handling market has led to image-based bar code scanning for inbound and outbound logistics, the improving service of the e-commerce orders in term of speed requires the accuracy to avoid wrong product delivery. The demand for image based scanning are influencing the material handling equipment market.
· Mobile Application
The mobile-based tracking tool is the great invention from the manufacturer. All the products presents in the warehouse contains bar code. Mobile-based software connected with all the equipment and smart assets are used for real time insights and alerts. The easy to use and track mobile app are enhancing the growth of smart equipment in the material handling equipment market.
· Telematics Solutions
Integration of telematics solutions and tracking sensors into products is estimated to boost the market in near future.
· Forklifts for logistics
Increasing innovation in the product lifting vehicles with sensor based technology is booming the demand for forklifts which is catapulting the material handling equipment market.Global Material Handling Equipment Market: Challenge
The loading vehicle such as forklift used in material handling industry offers various uses but due to manual controlling every year around thousands of fatal accidents are registered that includes crushed by vehicle tipping over, run over by forklift and others. Fatal accidents causes labor/ employer with some serious injuries. Safety is one of the major challenge in the material handling equipment market. It becomes very important to find solutions to overcome the challenges. The sensor based forklifts are one of the innovation that can help. Moreover, implementing forklift safety programs and providing training can prevent or reduce the cases of fatal accidents indoor and outdoor.
Global Material handling Equipment Market: Key Players Perspective
Some of the major players in the material handling equipment are Liebherr Group, KION Group AG, Jungheinrich AG, Viastore Systems GmbH, Eisenmann AG, Columbus McKinnon Corporation, Crown Equipment Corporation, Hytrol Conveyor Co., Inc, Xuzhou Heavy Machinery Co., Ltd and Toyota Industries Corporation.
Material Handling Equipment Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the material handling equipment market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Material Handling Equipment market, and its segmentation on the basis of Product Type includes conveying equipment, hoist, cranes and monorail.
Material Handling Equipment Market Report: Industry Coverage
The report analyses the product demands by the Material Handling Equipment Market on the basis of end-user industry that includes Aerospace, Agriculture, Air Cargo and Construction. The Material Handling Equipment market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
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Additive Manufacturing Market OverviewAdditive manufacturing market size is forecast to reach $35,244.3 million by 2026, after growing at a CAGR of 19.7% during 2021-2026. Additive manufacturing has many advantages over existing manufacturing technologies including injection molding, CNC machining, and vacuum casting, including lower resource requirements, shorter production times, modular design, and major tooling cost savings, which is why the additive manufacturing industry is booming. A key factor driving the consumer demand is rising government funding to boost additive manufacturing technology across various regions. Furthermore, the EU Commission’s increasing focus on reducing vehicle overall weight to minimize emissions is likely to affect market development. Metal 3D printing technology advancements are expected to open new horizons for lighter, stronger, and healthier products, providing lucrative opportunities for the additive manufacturing industry.
COVID-19 Impact
Global economies are currently recovering from the consequences of the globe-sweeping COVID-19 pandemic. As a result of the outbreak, various additive manufacturers across regions had to shut down their manufacturing activities. Globally, the government announced strict measures to slow the spread of the coronavirus, owing to which the activities of automotive and aerospace industry growth slowed down causing widespread concern and economic hardship for the additive manufacturing market. Also, some delays, due to the COVID-19 pandemic and related contingencies, occurred in the production and manufacturing of automotive and aerospace components. Further, For instance, according to the European Automobile Manufacturers’ Association, automotive factory shutdowns have resulted in production losses of 1,465,415 motor vehicles up to April 2020 as a result of the COVID-19 crisis. Due to lack of production, the utilization of additive manufacturing is also getting declined, which tends to constrain the growth of the additive manufacturing market.
The report: “Additive Manufacturing Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the additive manufacturing Industry. By Type: Materials, Systems, and Services & PartsBy Material: Plastics (Acrylonitrile Butadiene Styrene (ABS), Polylactic Acid (PLA), Polyethylene (PE), Polycarbonate (PC), Polypropylene (PP), Polyethylene Terephthalate (PETE), Nylon, and Others), Metals (Iron, Steel, Silver, Aluminum, Copper, Titanium, Gold, Zinc, and Others), Ceramics (Glass, Silica, Quartz, and Others), and Others.By Technology: Powder Bed Fusion (Direct Metal Laser Sintering (SLS), Selective Laser Sintering (SLS), Selective Laser Melting (SLM), Electron Beam Melting (EBM), and Others), Binder Jetting, Directed Energy Deposition (Laser Deposition Technology (LDT) excluding LCT, Laser Additive Manufacturing (LAM), Laser Metal Deposition (LMD), Laser Engineering Net Shape (LENS), Laser Cladding Technology (LCT), Electron Beam Additive Manufacturing (EBAM), Wire Arc Additive Manufacturing (WAAM), Laser Deposition Welding (LDW), and Others), Material Extrusion, Material Jetting (Drop On Demand (DOD), Polyjet by Object, Others), Vat Polymerization (StereoLithogrAphy (SLA), Digital Light Processing (DLP), Continuous Liquid Interface Production (CLIP), and Others), and Others.By End-Use Industry: Industrial, Aerospace (Commercial, Military, and Others), Consumer Goods (Furniture, Watches and Jewelry, Shoes and Soles, and Others), Oil & Gas, Automotive (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others), Medical & Healthcare, Electrical & Electronics (Conductors, Resistors, Sensors, Semiconductors, and Others), Building and Construction (Residential, Commercial, Industrial, and Infrastructure), and Others.By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherland, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia & New Zealand, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).
North America dominates the additive manufacturing market, owing to the increasing government support to enhance additive manufacturing technology in the region. For instance, America Makes, the leading national program in the U.S., was awarded USD 90 million in funding from the government to research additive manufacturing.
Rising investments in the medical sector, along with the growing automotive industry in various regions are driving the demand for additive manufacturing. As the use of 3D printing in automotive and dental applications is increasing, the growth in these industries will also support additive manufacturing market growth.
The lack of human resources is one of the most serious shortcomings of additive manufacturing. People must be trained in specific areas of design and development for this relatively new and rapidly changing production process, which takes time. Thus, these factors pose one of the major challenges for the additive manufacturing market during the forecast period.
Additive Manufacturing Market Segment Analysis – By Material
The metal segment held the largest share of 55.3% in the additive manufacturing market in 2020 and is growing at a CAGR of 17.3% during 2021-2026. Metals are a better option for 3D printing compared to plastics, as they have more industrial usage. Often the 3D metal printing shows itself to be unique as the new technologies can readily surpass what was offered by traditional processes. In a survey conducted across the globe, about 23% of the 3D printing materials used are metals. The 3D printing metals segment is also poised to grow as it has a competitive edge over other plastic materials used in 3D Printing. Metal 3D printing is too expensive, furthermore other companies, like Desktop Metal and Markforged, are developing approaches to manufacture affordable metal 3D printers. In March 2020, VELO3D has developed a powder bed fusion 3D printer that features a unique recoated mechanism and is tightly integrated with the software.
Additive Manufacturing Market Segment Analysis – By Technology
The powder bed fusion segment held the largest share in the additive manufacturing market in 2020 and is growing at a CAGR of 18.6% during 2021-2026. Powder Bed Fusion (PBF) 3D printing technology produces extremely detailed products. This 3D printing technique allows for the creation of a wide range of geometrically complex products by fusing powder particles layer by layer with a heat source, most commonly laser or electron beams, to form a solid component. For instance, as required by the aerospace and medical applications. Fine layers of material are melted or partially melted using electron beams, lasers, or thermal print heads, and the excess powder is blown away. The additive manufacturing market is expected to expand due to its advantageous properties such as reduced material waste and expense, improved production development times, enablement of rapid prototyping, and efficient recycling of un-melted powder. Owing to technological advancement, PBF technology is the most widely used technology for additive manufacturing.
Additive Manufacturing Market Segment Analysis – By End-Use Industry
The aerospace segment held the largest share in the additive manufacturing market in 2020 and is growing at a CAGR of 20.2% during 2021-2026. The aerospace and defense industry is a perfect example of how to use additive manufacturing (AM) (commonly referred to as 3D Printing) to produce components that are heavier and lighter than parts manufactured using conventional manufacturing methods. Additive manufacturing or 3D printing has applications in the aerospace industry such as engine compartments, cabin accessories, air ducts among others. According to Boeing, the global aerospace and defense market will be at $8.7 trillion over the next decade, up from $8.1 trillion in 2019. In November 2020, Boeing projected that China’s airlines will buy $1.4 trillion worth of 8,600 new aircraft and $1.7 trillion worth of commercial aviation services over the next 20 years. Thus, the demand for airplanes is set to increase over the years, and with the increase in aircraft, the manufacturing and demand for the engine compartment, cabin accessories, and air duct will also eventually grow, driving the demand for additive manufacturing in the aerospace industry during the forecast period.
Additive Manufacturing Market Segment Analysis – By Geography
North America held the largest share in the additive manufacturing market in 2020 up to 38%. Rising government investments and projects in the United States for additive manufacturing have also raised the growth of the market. For instance, to address the challenges in single laser melting (SLM), America Makes awarded GE Global $2.6 million to build an open-source, multi-laser production machine and AM platform. Additionally, in Canada, the rising partnership between research universities in the field of additive manufacturing is also influencing the growth of the market. For instance, in 2021, Researchers from the University of Waterloo’s Multi-Scale Additive Manufacturing (MSAM) Lab and the National Research Council of Canada (NRC) collaborated to help Canadian businesses drive the adoption of metal additive manufacturing technologies. The collaboration is expected to last at least seven years. Further, the US military budget for 2018 provided $13.2 billion in funding for technological advancement, including 3D printing. Defense-related 3D printing technology was also included in the 2019 military budget. Thus, such increasing investments and initiative in North American region in the additive manufacturing industry is anticipated to support the market growth in North America during the forecast period.
Additive Manufacturing Market Drivers
Ease of Manufacturing Complex Design
The basic physical difference in how objects are made with the additive manufacturing process produces some major functional differences when compared with other traditional manufacturing processes. The most significant of these functional differences is the ability of additive manufacturing to produce complex geometries that would be difficult or impossible to achieve using conventional manufacturing methods. These intricate geometries are also stronger and lighter than their conventional counterparts. Additive manufacturing, for example, allows for the development of custom hearing aids, dental mouth guards, prosthetics, and orthotics, all of which improve patient quality of life and medical performance. The additive manufacturing market is booming strongly related to its ability to create complex geometries more easily than other manufacturing methods. Also, additive manufacturing eliminates the additional costs normally associated with creating more complex objects. A highly complex component usually costs much more using conventional methods. This is primarily because conventional fabrication methods rely on the conversion of three-dimensional illustrations into two-dimensional drawings for fabrication, as well as the labor cost of assembling such components. However, regardless of the complexity of a component, the method in additive manufacturing is the same. Thus, no additional cost is incurred for manufacturing complex designs using additive manufacturing. And companies are continuously looking forward to enhancing their approach towards manufacturing complex design using additive manufacturing, which is consecutively driving the additive manufacturing market growth during the forecast period. For instance, in July 2019, the nTop platform, an engineering environment for design, simulation, and advanced manufacturing processes was launched by nTopology. Engineers may use the design solution to understand the function, geometry, and manufacturing requirements all at once in a computational context. Engineering notebooks and a design technology platform from nTop also give precise control over complex mechanical designs.
Relatively Lower Production Cost for Rapid Manufacturing
The manufacturing companies experience various benefits while using additive manufacturing methods to produce objects. Since the complexity of the component has little or no impact on the manufacturing time and costs, additive manufacturing is ideal for low-cost production as well as small and (very) large series. Design changes can be implemented quickly at a low cost. Metal structures are made up of atom by atoms in additive manufacturing, as opposed to subtractive approaches like chemical etching. As a consequence, almost every piece of metal is utilized during the production process, with almost no waste of material and reducing material wastage. When using additive manufacturing, all of the extra features that are needed for the assembly, such as fasteners, brazing, or welding, can be omitted. Thus, additive manufacturing also reduces assembly costs. Every high-precision metal process necessitates the development of a mold (also known as a die or a mandrel in some industries). The time and expense to make this mold vary depending on the technology. A stamping die, for example, can take months to create. A die is usable in days to weeks in CNC Punching. On the other hand, a mandrel for electroforming (an additive manufacturing process) can be made in a matter of hours. Thus, additive manufacturing also reduces the lead time from several months to several days, which reduces the costs significantly. Thus, the relatively lower production cost for rapid manufacturing when compared to another subtractive method is accelerating the additive manufacturing market growth during the forecast period.
Additive Manufacturing Market Challenges
Difficulty in Producing Large Single Parts
Even if additive manufacturing were to dramatically increase production speed and volume performance, it would still be unable to manufacture large single parts. This is yet another major challenge confronting additive manufacturing researchers as they pursue new applications for 3D printing technology. The building envelope for current additive manufacturing technologies is limited, meaning even larger components that can be printed must still be assembled by mechanical joining or welding. Academia, government, and industry are all investing heavily in overcoming this barrier. For instance, in March 2016, the Department of Energy’s Oak Ridge National Laboratory (ORNL) in conjunction with Lockheed Martin and Cincinnati Inc. launched Big Area Additive Manufacturing (BAAM), a machine that could print polymer components up to 10 times larger than current systems are capable of and at speeds up to 500 times faster than existing AM machines. In February 2021, PAMPROD (Procédés Additive Manufacturing – Productivité), a new innovative additive manufacturing solution for producing large parts up to 5m and components in a cost-effective manner, was introduced in response to the needs of the aeronautics, oil, and defense sectors for large parts. Although work is being done in this field, the challenge of producing large single parts remains a significant barrier for the market players and new entrants. Buy Now
Additive Manufacturing Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the additive manufacturing market. Major players in the additive manufacturing market are Proto Labs Ltd., 3D Systems Inc., Stratasys Ltd., ExOne, Envision TEC, Materialise NV, Marforged, EOS GmbH, Ultimaker BV, and Titomic Limited.
Acquisitions/Technology Launches
In February 2021, In partnership with Jabil Inc., 3D Systems Inc., unveiled a next-generation ‘high-speed fusion’ 3d printing system for aerospace and automotive market applications. This technology is capable of speeds and precision that far surpass existing state-of-the-art manufacturing platforms.
In January 2021, Proto Labs Ltd acquired 3D Hubs Inc. for an amount of US $280 million. Protolabs’ leading in-house, technology-enabled manufacturing services combined with 3D Hubs’ global network of premium manufacturing partners which is set to yield increased revenue for Proto Labs Ltd.
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Association of wellness with beauty is a major trend driving consumer based products demand in this era. Cosmetics is one prominent sector leveraging this stride and executing unprecedented business. As per an online release by Forbes in 2017, the cosmetics industry was estimated to be worth a staggering $445 billion in terms of sales revenue. Cosmetic packaging market as an imperative subset of blooming cosmetics industry is catapulting enormous demand under its domain. Being an essential component of cosmetics in terms of protection, creation of brand awareness, advertising appeal, extension of shelf life and labeling of information, cosmetic packaging market size has ascended towards $25.5 billion as of 2018. E-commerce has facilitated an upsurge of cosmetic sales by adding a supplementary virtual retail counter for products and proficient packaging is a necessity for such operations. This is among the major factors are compelling the cosmetic packaging market to be progressing at a compound annual growth rate (CAGR) of 4.5% during the forecast period of 2019 – 2025.
Cosmetic Packaging Market Outlook:
Cosmetic packaging market employs various resources such as plastic, glass, metal and paper as packaging materials for manufacturing packaging equipment, for instance, cosmetic containers, cosmetic bottles, cosmetic jars, sticks, pumps & dispensers, pen types, roller balls, and caps and closures. Glass cosmetic packaging is losing its affluence to plastic packaging, owing to multiple benefits offered by plastic such as low cost, lightweight, flexible, shatterproof, sturdy, odorless, pleasing appearance and appropriate for graphic and color printing. Moreover, acrylic plastic can mimic the appearance of glass without being fragile.
Further inspecting the regional cosmetic packaging market share, North America is estimated to be the foremost region as of 2018. This area with the largest global economy, the United States, is accountable for generating 35% of the global cosmetic packaging demand. As per the United States Census Bureau 2010, younger working-age population, ages 18 to 44, represented 36.5% and older working-age population, ages 45 to 64, and represented 26.4% of the total population.[2] Nearly 57% of total population working with increasing disposable income and the majority of them below 44 years of age, spontaneously stand out as potential customers for cosmetics. Apart from local customers, United States holds the apex spot in terms of cosmetic products exports to Korea (8th largest cosmetic products market in the world).[3] Thus owing to its local demand and export demand of cosmetics, North America holds a substantial share of the global cosmetic packaging market size.
In terms of application, the cosmetic packaging market is predominantly composed of hair care, skin care, nail care and make-up. While most of the skin care, nail care and make-up products are oriented towards feminine application, hair care is a segment targeting both the sexes. Due to this phenomenon hair care products leads the application segment, progressing with an application CAGR of 5.5% going through 2025. American Hair Loss Association states that by the age of 50, 85% of men have significantly thinner hair. Thus hair care primarily dominates the cosmetic packaging market share.
Cosmetic Packaging Market Trends and Growth Drivers:
Novel innovations in material and printing technology have unlocked numerous design trends for cosmetic packaging. Market players are applying polypropylene films for finest cosmetic packaging where biaxially-oriented polypropylene (BOPP) are favored as customary cosmetics packaging material. Since its inception, 3D printing technology has being adopted by the cosmetic packaging manufacturers globally as it provides aesthetic feasibility to the product, and is commonly employed to package cosmetics, fragrances, and shampoos.
Cosmetics industry in the past few decades has been witnessing a diversion from being recalled as a feminine oriented products base towards a sector serving all the genders hence the entire global population standing out as potential customers. With the inception of male users of cosmetics, the industry is witnessing an unprecedented business. The argument can be well supported by a data sheet by IBEF (India Brand Equity Foundation), stating that men who fall in the age group of 18 to 25, spend more money on grooming and personal care products than women in India. It also states that about 25-30 % of the total salon business comes from men’s treatment.
Cosmetic Packaging Market Challenges:
Since there is no substitute for cosmetic packaging, the sector appears as an unparalleled, unchallenged and inevitable arcade. But the only limitation faced by the cosmetic packaging market is its direct dependence on the parent market, that is, the manufacturing of cosmetic packaging products is directly proportional to the cosmetic industry. However, a failing cosmetic market in this era of aesthetic feasibility being utmost important for individuals, is way beyond the analytical faculty of our grey matter.
Cosmetic Packaging Market Players Perspective:
Some of the key companies identified in the report that are currently holding majority shares in the cosmetic packaging market are Albea Group, HCP Packaging, RPC Group, Gerresheimer Holdings, Silgan Holdings, ABC Packaging, Aptar Group, Bemis, Arexim Packaging, and DS Smith.
HCP Packaging, a leading market player in the design, improvement and production of premium quality primary packaging containers for the cosmetics, skincare and perfume industries acquired USI Cosmetic GmbH & Co. KG, a leading European companies in the cosmetic packaging industry in 2017. This 100% of stake acquirement will help HCP being the global leader in the context of mascara solution provider.
Cosmetic Packaging Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the cosmetic packaging market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various materials in cosmetic packaging market, and their specific advantages.
By Application: Hair Care, Skin care, Nail Care, Make-up and Others
The Cosmetic Packaging Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia
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According to the International Trade Center (ITC), the trade of iron and steel across the globe was valued to be $428.6 billion worth in 2018. This is attributable to the prevalent application of iron and steel in a broad spectrum of industries. However, iron and steel that are used in industries undergo the process of painting and coating, which protects the metal and alloy from corrosion, thereby reducing the maintenance and replacement costs. Evidently, the increasing trade of iron and steel worldwide is significantly supporting the paints and coatings market that had a market size of $127,855 million as of 2018. Furthermore, the demand for paints and coatings in various industries is projected to escalate with a healthy compound annual growth rate (CAGR) of 4.69% during the forecast period of 2019 to 2025.
APAC has been observing a tectonic shift in the economy owing to the growth in the industrial sector and construction, which is leading to growth prospects in the APAC paints and coatings market. Furthermore, according to the Indian Brand Equity Foundation (IBEF), India is the third largest crude steel producer in 2017.[2] The tons of steel production in India and other parts of APAC leads to an augmented demand for paints and coatings. China, Indonesia, and the Philippines are major industrial regions that contribute to the soaring sales in the paints and coatings market. Moreover, the growing automotive industry in the region has incremented the demand for paints and coatings. In 2018, APAC had the maximum paints and coatings market share of 44%.
Paints and coatings are materials with properties such as adhesion, wettability, and corrosion resistance that are applied to a surface in order to protect it from corrosion, rusting, and erosion that can lead to surface spoilage. Previously, cave paintings were drawn by using hematite and manganese oxide that were the earliest invention of paints. Paints and coatings are used in a gamut of industries that include construction, automotive, real estate, and others. The paints can be decorative and protective based on the application and the impact of external factors on the surface.
According to the United Nations, the real estate industry will be playing a vital role in the sustainable development goals (SDGs) envisioned by the organization. This is attributed to the population outflow that is anticipated in the future. Subsequently, the new building and construction projects will be leading to an augmented application of decorative or architectural paints and coatings. The key application of paints and coatings is found to be the decorative ones, and the application of the same for architectural purpose is estimated to grow with a steady CAGR of 5.10% through to 2025.
Paints and Coatings Market Growth Drivers:
· The Growth of the Automotive Industry –
According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles produced in 2018 was 95,634,593.[3] Evidently, motor vehicles are painted or coated with resins that protect the metal from corrosion and rusting. With the advent of electric vehicles, autonomous trucks, and self-driven vehicles and trucks, the automotive industry is poised to observe a seismic shift with an incremented production rate in the future which will further flourish the paints and coatings market, and the industry will observe a definite demand influx which will raise the revenues.
· The Application in Aerospace and Marine Industry –
According to the General Aviation Manufacturers Association (GAMA), in 2018, total 2,443 number of aircraft were shipped to various regions in the world. Additionally, the aviation industry witnessed a 4.37% growth in terms of shipment year on year in 2018.[4] Evidently, these aircraft are painted or coated with paints for protection from corrosion, and these paints are expensive, which shoots up the valuation of paints and coatings market. Similarly, the increasing trade across the globe is leading to an amplified application of paints and coatings on the surface of ships. Due to the enhanced trade, ships travel more than before which instills corrosion of the surface at a faster rate. This creates a need for the sporadic application of paints and coatings for maintenance purpose which again drives the paints and coatings market.
· The Semiconductor Industry Supporting the Market –
The semiconductor market was valued to be $426.4 billion in 2018, and the demand for semiconductors is estimated to grow with a substantial CAGR of 5.88% during the forecast period of 2019 to 2025. These semiconductors are nowadays coated with a particular kind of spray paint, which imbues properties such as magnetic response and electrical conductivity. Given that the semiconductor market is poised to observe growth, the vendors in the paints and coatings market will subsequently witness opportunities.
Paints and Coatings Market Trends –
· In June 2017, Sherwin Williams completed the acquisition of Valspar for $113 per share and became the global paints and coatings market leader.
· In December 2018, PPG Industries Inc. announced to acquire the global coatings manufacturer Whitford Worldwide Company in order to diversify its product portfolio.
· In November 2017, AkzoNobel agreed to acquire V.Powdertech business in order to position the company in the middle-east paints and coatings market.
· In March 2017, Nippon Paints USA completed merger agreement with Dunn-Edwards which is one of the major manufacturers of industrial, architectural, and high performance paints.
Paints and Coatings Market Challenges –
Despite the large and lucrative paints and coatings market size, the industry is facing challenges due to economic dynamism in Europe, North America, and other parts of the world. The political changes are making an impact on the economy which is affecting the paints and coating industry worldwide. Furthermore, the climatic changes and greenhouse emissions are leading to global warming which is altering the temperatures in each part of the world. The composition of paints and coatings and drying time of the same largely depends on the temperature. This shift in temperatures is making it imperative for vendors to alter the modus operandi and come up with a new range of products compatible with changing temperatures. However, this challenge doesn’t seem to bother the sales of paints and coatings, but the future will certainly warrant an increased investment in R&D in order to produce better paints and coating materials.
Paints and Coatings Market Key Players Perspective –
The major players striving to capitalize on the demand for paints and coatings are Sherwin Williams Company, PPG Industries Inc., Akzo Nobel NV, RPM International Inc., Nippon Paints Holdings Co., Ltd., Axalta Coatings Systems, BASF Coatings GmbH, Asian Paints Limited, Kansai Paints Co., Ltd., The Jotun Group, Hempel Group, and Others.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the paints and coatings market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The paints and coatings market research report also analyses the application of paints and coatings in decorative/architectural, automotive OEM, and other segments.
Paints and Coatings Market Report: Industry Coverage
This report also documents the paints and coatings market based on formulation that can be high solids water borne, and others) and by component that include one component and two component.
Paints and coatings contain resins that include alkyd, epoxy, and the report provides insights for each segment of resins.
The paints and coatings market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
“We also publish more than 100 reports every month in “Chemicals and Materials”, Go through the Domain if there are any other areas for which you would like to get a market research study.”
According to the findings by the Environmental Protection Agency (EPA), the net greenhouse emissions in 1990 were 5573.3 MMT CO2¬ Eq. and 5,758.9 MMT CO2 Eq. in 2017 from which the emissions allocated to the agriculture sector was 534.9 MMT CO2 Eq. in 1990 and 582.2 MMT CO2 Eq. in 2017.[1] The rise in greenhouse emissions due to agriculture is aiding to the threat called global warming, and so, the greenhouse produce has become imperative. The greenhouse produce is already gaining grounds worldwide, and a gamut of environmental concerns are leading to increasing implementation of the same which is enhancing the size of the greenhouse produce market that was valued to be $5.3 billion as of 2018. Furthermore, the demand for the same is projected to observe a healthy compound annual growth rate of 9.10% during the forecast period of 2019 to 2025.
Owing to the prevalent plantation of fruits and vegetables in the countries of North America such as the US, Mexico, Greenland, and others, the greenhouse produce market is making strides in the region. This is also attributed to the dearth of land in the region which is the main reason the government is also taking initiatives such as greenhouse produce and creating plantation setups in urban regions in order to suffice the demand for fruits and vegetable. Another factor that is attributable to the growing opportunities in North America is the fact that the consumers are driven by quality and variety that is leading to a fairly favorable pricing scenario for the prominent vendors and the blossoming businesses in the greenhouse produce market. North America had the maximum greenhouse produce market share of 40% in 2018.
Greenhouse produce is a plantation in a miniature cold frame where solar radiation passes through walls and is absorbed by the floor. Moreover, greenhouse cultivation also uses carbon dioxide enrichment. Plastics used in greenhouse produce can be polyethylene film, polycarbonate material, or PMMA acrylic glass. Nowadays, vegetables and fruits are produced from greenhouse produce.
Vegetables are considered as a primary requirement for nutrition in the human body. Furthermore, the future foresees an augmented demand for vegetables due to a lot of people converting into vegans. These people will predominantly rely on vegetables for nutritional needs. Moreover, there is a discernible trend of import and export of frozen vegetables which is further flourishing the greenhouse produce market. The vegetable application segment of the greenhouse produce is projected to grow with a notable CAGR of 8.70% through to 2025.
Greenhouse Produce Market Growth Drivers:
· The Shortage of Land in the Agriculture Industry –
In 2016, the World Bank had assessed the agricultural land to 37.431% of the total land area.[2] The Population Reference Bureau has estimated that around 9.6 billion people are living in the world today, and the figure is going to catapult to 9.9 by 2050.[3] The percentage of agricultural land as documented by the World Bank may not be adequate to suffice the demand emerging from the population outflow. In a world where hunger is a primary concern, the shortage of land in the agriculture industry can prove to be a fatal phenomenon. In order to alleviate this situation, governments and a lot of investors are taking initiatives such as greenhouse produce in which the land in the urban areas can be used for plantation. The boom in the greenhouse market is envisioned to fulfill the sustainable goals by the United Nations (UN) in which eradicating hunger issues has been attributed as one of the most important objectives.
· The Increasing Disposable Personal Income Instilling Affordability –
Apparently, greenhouse produce is expensive than normal crops. This is especially because of the high investments made by the producers, which shoots up the price of the produce. Even though this may pose as a challenge, the increasing disposable personal income is enabling customers to afford the fruits and vegetables which is significantly supporting the greenhouse produce market. The economic shift is making it possible for people to spend on things that are supposed to be perceived as expensive. The future is poised to witness more industrialization which will aid to economies worldwide, and this will create sustainable market conditions for greenhouse produce.
· The Advantages Over Normal Cultivation Driving the Market –
Damage and losses of crops or plantations due to bad weather is a rampant situation in the world. However, greenhouse produce provides a separate environment for plantation in which the cultivation isn’t affected by the seasonal circumstances. This leads to a longer growing season, thereby directly having a positive impact on productivity. While insecticides market is leveraging the fact that crop losses are largely attributed to pests and predators, greenhouse produce remains protected from the same. On the other hand, there are some beneficial insects such as ladybugs that aid to the cultivation. Greenhouse produce keeps these inside the plantation environment. These advantages that greenhouse produce has over conventional cultivation is leading to growth opportunities in the greenhouse produce market.
· In June 2018, the US greenhouse produce start-up BrightFarms secured an undisclosed sum of money in a series of D equity financing for further expansion of its sustainable farms. This expansion is due to the demand influx in the US greenhouse produce market.
· In October 2017, Canopy Growth Corporation entered into a joint venture in order to form a new company in order to develop a 1.3 million sq. ft. of greenhouse produce capacity in British Columbia.
· In April 2019, Emerald’s Pure Sunfarms joint venture acquired 1.1 million sq. ft. of land for greenhouse produce. This was done to increase the production in order to fulfill the growing demand in the greenhouse produce market.
Greenhouse Produce Market Challenges –
The major challenge in the greenhouse produce market is that the vendors still struggle to venture into some of the developing and under-developed economies which becomes a constraint for the growth of market size. This is because of the fact that residents of these countries are yet to afford greenhouse produce and are relying on conventional produce. Furthermore, even though the microclimate provided by greenhouse helps in sustainable production; on the other hand, the soil requires more quantity water and fertilizer which again shoots up the budget of farming firms. Considering that it’s important to maintain temperature and humidity for proper farming, many farmers struggle to do so which is posing as a minor challenge in the greenhouse produce market. However, given that the market size is growing rapidly and greenhouse technology is evolving, the future can expect greenhouse produce to be a very profitable business.
Greenhouse Produce Market Key Players Perspective –
The major players striving to capitalize on the demand for greenhouse produce are Greenhouse Produce Company LLC, Devry Greenhouse Ltd, Loch’s Greenhouse, GGS Structures Inc., Four Seasons Greenhouse and Nursery, Inc., Mikes Greenhouse Produce, Inc., Mitchells Greenhouse and Produce LLC, and Venlo AP HOLLAND Group.
Greenhouse Produce Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the greenhouse produce market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The greenhouse produce market research report also analyses the application for the cultivation of vegetables, fruits, flowers, herbs, and others.
Greenhouse Produce Market Report: Industry Coverage
This report also documents the market based on irrigation that include soil & culture, transplant production, hydroponics, and others) and the sales of greenhouse produce in various distribution channels such as super markets, farm communities, food processing, and others.
The greenhouse produce market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
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The global Mobile Money Market size is estimated to surpass $17.7 billion mark by 2026 growing at a projected CAGR of more than 24.9% during the forecast period 2021 to 2026. Increased use of technology in financial transaction and rise in various e-commerce platforms are expected to accelerate the mobile payment market during the period. In 2019, according to report given by Government of India, India has over 16 mobile wallet or e-wallet companies out of which 14 are Indian based mobile wallet companies. Online payments in India are witnessing thriving growth with a compound annual growth rate of 12.7% in the number of non-cash transactions. Similarly, China mobile wallets are growing at rate of 22% with the total transaction volume of $41.1 trillion in 2019. Increasing adoption of non-cash transaction in mobile banking will likely create the demand for Mobile payment industry.
Mobile Money Market Report Coverage
The report: “Mobile Money Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Mobile Money Market.By Type of Payments: Remote Payments, Proximity Payments.By Transaction Mode: NFC/Smart card, Direct mobile billing, Mobile web/WAP payments, SMS, STK/USSD, Mobile apps, IVRS, QR codes, Others (Wi-Fi, Bluetooth).By Payment Nature: Person to Person (P2P), Person to Business (P2B), Business to Person (B2P), Business to Business (B2B).By Application: Money transfers, Bill Payments, Airtime Transfer and Top-Ups, Travel and Ticketing, Merchandise and Coupons.By Industry Vertical: BFSI, Telecom and IT, Media and entertainment, Healthcare, Retail, Travel and hospitality, Transportation and logistics, Energy and utilities, Others.By Geography – North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), South America(Brazil, Argentina and others), and RoW (Middle east and Africa).
The increasing omnipresence of mobile phones is a driving factor in increasing the number of users of mobile money and changing the dynamics of digital finance and mobile banking solutions.
Efficiency in money exchange is one of the major determinants of mobile money technology development. Increasing the efficiency of mobile banking transactions can result in an increase in overall expenditure which can encourage companies to work towards the development of this technology.
Use of transaction modes such as NFC / smart cards has speeded up the transaction process. In addition, the development of e-commerce websites has led to an increase in the number of online payments and transactions that can be considered an attraction for the mobile money market.
Mobile Money Market Segment Analysis – By Type of Payments
During the forecast period Proximity Payments segment is expected to grow at a CAGR of 35.7% over 2021-2026. Mobile phones and POS devices are used to make the proximity payments. A number of companies currently offer applications allowing proximity payments. It is further referred to as in-store payments with respect to payment through a merchant’s POS terminal in the case of a retail store or in-location payments. For short distances and work, proximity payments are specifically enabled when both the payer and the payee are present in the same place. This payment system uses either barcodes or contactless interfaces to initiate the mobile money transaction. This is done through Near-field communication (NFC)-based technology present on an NFC-enabled phone, which has comprehensive details about the mobile wallet placed in the cloud or debit / credit card. This payee information is stored on the device in the POS terminal which is read by the corresponding NFC reader. Proximity payments differ markedly from remote payments, as it involves mobile banking and the presence of payment card details from one’s own bank account and does not require any relation with a payment processor to facilitate the transaction. The increasing adoption by brick- and mortar-based companies of mobile payment technologies further drives demand for proximity payments.
Mobile Money Market Segment Analysis – By Industry Vertical
In terms of industry, the Mobile Money market is mainly bifurcated into travel and ticketing, mobile banking, and e-commerce services. Further analysis of each segment indicates banking and travel and hospitality to be the fastest growing application segment for the Mobile Money market, which are projected to grow at a CAGR of 30.2% and 34.8%. Companies like MakeMyTrip, Yatra, Ibibo, Cleartrip (for airlines and hotels), redBus (for buses) are examples of online travel booking companies in India, that are fuelling the online payment and Mobile Money market, by facilitating booking only through online platforms and direct carrier billing. A study by India Brand Equity Foundation (IBEF) found that 81% of existing digital payment users in India favor the digital and mobile mediums for banking over other non-cash payment procedures such as demand drafts or cheques.
Mobile Money Market Segment Analysis – By Geography
North America, which has displayed affinity over the years in adopting newer technologies, is the most lucrative region for the Mobile Money market, generating a global demand share of 34.3% in 2020. With several innovative key market players located in North America such as PayPal Holdings, Inc. and Microsoft Corporation, this region is leading the innovative front with development of novel technologies such as contactless payments, direct carrier billing, mobile banking and near-field communication. A high rate of internet penetration, growth of e-commerce, online payment and micropayment options has contributed to the popularity of the Mobile Money market in North America.
Mobile Money Market, By Region, 2020 (%)
Mobile Money Market Drivers
Increased Adoption of Mobile POS
Mobile point of sale has really taken advantage of the smartphone’s ability to accept payment on the spot. mPOS is the technology that frees all businesses from their brick-and – mortar and in-store transactions. mPOS device limits liability because transactions are encrypted and card information is not stored on the mPOS device, which minimises the risk of security breaches and makes it easier and quicker to comply with regulations. Biometrics such as fingerprint and facial recognition can also be used with mPOS to confirm customer identities during payment, adding another level of security to mobile money payments. With mPOS, staff can see past transactions, online payments and browsing history, loyalty rewards, and other things that help staff understand the customer’s need. These features have not only added to customer satisfaction but also improvement in staff performance.
Shift to Contactless payments due to Covid-19 Pandemic
The COVID-19 pandemic has had a significant impact on the mobile money market, as consumers and businesses are forced to change their buying habits. There has been an incredible spike in the adoption of mobile wallets, as contactless payments have become vital for purchases. Avoiding cash and card transactions to keep COVID-19 from spreading has prompted many subscribers to try out mobile wallets. Since the COVID-19 crisis complicates every day, consumers become accustomed to online payments, making mobile banking important for each transaction.
Mobile Money Market Challenges
Low Trust in Mobile Money
Low trust in Mobile Money is a major factor which will hamper the market in the forecast period. For instance according to the report given by YourGov, about 43% of the mobile users don’t trust Mobile Money and 38% have low confidence on security. Similarly, most of the consumers are reluctant to adapt to Mobile Money as contactless payment presents huge unknown risk and fraud like leaked data, hacking and e-wallet vulnerabilities. Moreover less awareness about the benefits of using Mobile Money over using cash or credit cards and debit cards for online payment and buying expensive items. All these conditions will restrain the market growth in the forecast period
Mobile Money Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Mobile Money Market. Apple, PayPal, Samsung, JP Morgan Chase, Amazon, Tencent, Google, Ant Financial, One97 Communications Limited, Vodafone, Skrill, American Express, Sprint Corporation, Well Fargo, Mastercard, Visa, First Data, and AT&T are considered to be the key players of the Mobile Money Market.
In November 2019, Google, a digital payments provider, launched Google Pay for business apps, targeting small and medium size businesses, helping them transfer each rupee earned by the merchant directly into their Unified Payment Interface (UPI)-linked bank account.
In July 2019, Wirecard and Sisal Group signed agreement to collaborate in the field of contactless payment solutions for the brand SisalPay
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Synthetic Biology Market OverviewSynthetic biology is an emerging area of biological research which combines both science and engineering. According to this research report from IndustryARC, the global synthetic biology market size was between $12.80 billion to $13.86 billion in 2018, and the market demand is projected to grow at a phenomenal CAGR of 36% to 38% during the forecast period of 2019 to 2025. North America is identified as the key region, chunking out 41% to 43% of the total demand in 2018 and poised to maintain its dominance. Factors such as increasing investment to harness possibilities with new synthetic biology technologies such as gene synthesis, genome engineering, cloning, sequencing, and nanotechnology, growing R&D funding, and collaborations are driving the growth of the synthetic biology market in this region.
Synthetic Biology Market Outlook
Analyst of the report says that, bio medicine and health care application is dominating among other diverse applications such as industrial, and environmental; it is estimated to grow with an exuberant CAGR of 40% to 42% during the forecast period 2019-2025. According to International Diabetes Federation, in North America, 45.9 million adults aged 20-29 years were living with diabetes in 2017, representing a regional frequency of 13%, among all IDF regions. Synthetic biology offering a platform for the future medicines, where cells can fight with diseases such as diabetes and cancer; which is propelling the abundant demand for the synthetic biology market during the forecast period of 2019 to 2025.
As world population is increasing day by day, conversely, the need for food is also increasing and the cultivation land is decreasing owing to industrialization. Using synthetic biology techniques, farmers can yield more crops in low cultivation land due to their properties such as more efficient plant use of water and nutrients, photosynthetic performance, nitrogen fixation and better resistance to pests are developed using synthetic biology.
Artemisinin is an antimalarial medicine which will be now produced from yeast using synthetic biology; avoiding the need to isolate it from Chinese sweet wormwood plant. This will help to stabilize global medicine prices and increases and the demand for synthetic biology market in the medical sector.
Globally, cancer is the second leading cause of death which is responsible for an estimated 9.6 million deaths in 2018. According to World Health Organization, about 1 in 6 deaths are due to cancer. Advancement in genome engineering such as CRISPR and DNA synthesis technologies will reduce the risks from cancer and driving the growth of the synthetic biology market.
Synthetic Biology Market Challenges
The construction and testing process of biological systems is complicated and irregular; which became the major challenge for the growth of the market. However, to solve this problem, Ginkgo Biological Studio developed an automation system which can combine the gene components together.
The misuse of synthetic biology or possibilities of accidental release of pathogens into free atmosphere is another key challenge for the market. But, rising demand for bio-fuels, and investments on synthetic drugs and vaccines would further offer profitable growth chances in the market.
In order to create larger functional architecture by synthetic biology, device modularization and standardization become a necessity. However, the non-linear and uncertain nature of systems biology makes standardization of parts as a non-trivial task which in turn propels the growth of the market.
Synthetic Biology Market Key Players Perspective
In 2018, Thermo Fisher Scientific, Inc., a leading global life sciences company has licensed its Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) technologies from the Board Institute and ERS Genomics University of California to enhance its genome editing intellectual property (IP) portfolio. Helge Bastian, vice president and general manager of synthetic biology at Thermo Fisher says that, the reason behind this enhancement is to further unravel the function of DNA elements and genes in the development of new drugs and cell therapies. Some of the other players mentioned in this report are GenScript, Integrated DNA Technologies, Inc., OriGene Technologies, Inc., ATUM, Synthetic Genomics, Inc., Pareto Biotechnologies, Inc., and Blue Heron Biotech, LLC,
Biomonitoring is another exciting area for synthetic biology developments. Highly specific, tiny biosensors can be engineered to spot an enormous range of molecules such as hydrocarbon pollutants, sugars, heavy metals, and antibiotics in environmental sensing systems.
Synthetic biology also used in agricultural applications to provide more precision and sophistication than earlier gene technologies. This helps to increase crop and livestock yields, while reducing environmental impact by limiting the use of chemicals and fertilizers.
OPX Biotechnologies (OPXBIO) is developing renewable bio based acrylic to match petro-acrylic performance and cost but with a 75 percent reduction in greenhouse gas emissions. BioAcrylic from OPXBIO also will reduce oil-dependence and offer more stable prices.
Synthetic Biology Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the synthetic biology market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of synthetic biology market, and their specific applications in different types of vehicles.
Synthetic Biology Market Report Industry Coverage
Types of Tools in Synthetic Biology: Xeno-Nucleic Acid, Chassis Organisms, Oligonucleotides, Cloning Technology Kits, and Enzymes Applications of Synthetic Biology: Environmental, Medical, and Industrial Technologies of Synthetic Biology: DNA Synthesis, DNA Sequencing, and Computational Modelling Buy Now The Synthetic Biology market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
According to the World Health Organization, around 10,000 diseases in the world are monogenetic. Caused by modification or mutation in a single gene present in every single cell of a body, these diseases can only be prevented and diagnosed by a method called genetic testing. Thalassemia, one of the most prevalent genetic disorders in the world is considered a major public health concern. In Iran, around 8000 pregnancies every year are at risk of thalassemia. Statistics like these show the imperativeness of genetic testing which is useful in highlighting the vulnerabilities of diseases that are inherited genetically. Genetic testing market has a wide end-user industry, prominent ones being forensic and hospitals. In forensic testing, the process is used for legal purposes in order to solve cases with vague information available. With constantly rising population, genetic diagnosis is extremely essential in today’s world. The genetic testing market size in 2018 was estimated to be between $7,300-8,300 million. The market demand will experience a promising growth in the upcoming years with an estimated compound annual growth rate (CAGR) between 12.5%-13.5% during the forecast period of 2019-2025.
Genetic Testing Market Outlook: Genetic testing is simply a process in which our DNA which is present in the cells and runs through the bloodlines of all living beings is extracted and put under thorough examination. Through this, changes in the structure of chromosomes are identified and it is easier to predict the kind of disease a person has contracted. Genetic testing is also useful in identifying the level of susceptibility that a person has towards disease in order to prevent it from materializing. North America with its eminent genetic testing centers including the ones in Massachusetts Institute of Technology and Harvard University leads the genetic testing market geographically. In 2018, the regional market share of North America was 45%-47% which is nearly half the size of the global market. According to MIT Technology Review, the number of people who got their DNA analyzed in 2017 nearly doubled as compared to previous years and exceeds 12 million in the current year. Genetic Testing Market Growth Drivers:
Genetic Testing For Cancer Cure
According to World Health Organization, 9.6 million deaths occurred worldwide due to cancer in the year 2018. These statistics are alarming as this disease is on an all-time high affecting the entire world, and is a borderline epidemic. Thanks to genetic testing, timely diagnosis for breast cancer, ovarian cancer, bowel cancer, womb cancer, and prostate cancer is readily available. History of cancer in the family is a prerequisite for genetic testing and help in the prevention of this fatal disease. This application segment was one of the most prominent in the genetic testing market and is expected to grow steadily in the forecast period of 2019-2025.
Proper Advertising By Genetic Testing Websites
Unlike the early 20th century, key market players of the genetic testing market do not have to struggle with convincing consumers about the benefits of DNA testing. According to MIT Technology Review, in 2016 Ancestry.com spent a whopping $109 million on television advertisements in the United States of America. Right below this, 23andMe.com spent $21 million on advertisements which helped them gain a lot of popularity.[4] Direct advertising does the trick and provides impetus to the market. Genetic Testing Market Challenges: A major challenge faced by the genetics market is the lack of medical solutions for all the diseases diagnosed. While it is easy to predict which diseases a person is suffering or might suffer from, the proper prognosis is a challenge. Funded research in prognosis after disease detection is a much-needed way to combat this market challenge.
Genetic Testing Market Key Players Perspective: Some of the key market players of the genetic testing market are Genentech Inc., Sorenson Genomics, LLC, Abbott Molecular, Bayer Diagnostics, Biocartis, BioHelix, Celera Genomics, Genomic Health, HTG Molecular Diagnostics, and PacBio. Genentech Inc, one of the leading companies working in the field of genetics have been consistently working on personalized medicines. According to them, diagnosis through genetic testing is only the first step in the road to eradicating cancer. The process can also be used to develop personalized medicines.
There are several ways of getting genetic testing done, one of which includes contacting your doctor who will get the test done for you. However, technological advancement has provided the general public with liberty to conduct their own genetic testing. Websites like Ancestry.com and 23andme.com provide DNA testing kits which are delivered to one’s doorstep for as little as $90. After receiving the test results, one can easily upload them on third-party interpretation websites which print out medical diagnosis and provide their analysis. Ease of accessibility in genetic testing has massively disrupted the market as more and more people enroll online for genetic testing and become aware of their DNA data. 1 in every 25 American adults are aware of their genetic data and are relying on the genetics market for improvement in their health. Genetic Testing Market Research Scope The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the genetic testing market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the genetic testing market and their specific applications in different areas. Genetic Testing Market Report: Industry Coverage The genetic testing market can be segmented on the basis of testing, method, testing sample and industry. By type, the most prominent bifurcations are forensic testing and newborn screening. On the basis of the method, the market can be divided into molecular, chromosomal, and biochemical. Based on the testing sample, the market can be bifurcated into saliva, blood, and others. And by industry, the market is divided into laboratories, hospitals, and blood banks. Buy Now The genetic testing market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Self Service Kiosk Market OverviewThe global Self Service Kiosk Market is estimated to surpass $35.8 billion mark by 2026 growing at an estimated CAGR of more than 6.4% during the forecast period 2021 to 2026. Self-Service Kiosks are computer devices designed to help people in performing specific tasks and services on their own like paying bills, buying tickets, bank transactions and others. Self-service kiosks are extensively used in retail industry, entertainment, healthcare, transportation, government & BFSI and education among others. They enhance the user experience to make services hassle free and matters of seconds which are of paramount importance to the comfort level of consumers. Data security is a key feature of kiosks which is driving the demand of self-service kiosk market.
Self Service Kiosk Market Report Coverage
The report: “Self Service Kiosk Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Self Service Kiosk Market.By Implementation: Point-of-Information, Product Promotion, Service / Transaction, Internet Commerce, Product Dispensing and OthersBy Usage: Checkin-Checkout, Advertising, Navigation, Recruitment, Photos, Inventory Management, Employee Information, Reservations, Ticket Printing, Patient Service, Bill Payments, Food Ordering, Registration and Identification and Others By End Use Industry: Hospitality, Financial Services, Retail, Medical, Transportation, Education, Government and othersBy Geography – North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).
The increasing convergence of emerging technologies such as artificial intelligence and the Internet of Things into electronics is increasing manufacturers’ focus on advances in traditional kiosks. As a result, high production of self-service kiosks is proliferating due to increasing demand from various sectors.
Technological advancements such as Near-Field Communication (NFC) and Radio Frequency Identification (RFID) in the field of digital payment and security applications have also contributed to the expansion of applications and the use of self-service kiosks.
Increased smartphone and tablet adoption, along with mobile payment preference, has also had a positive impact on the growth of this market.
Self Service Kiosk Market Segment Analysis – By Usage
Food ordering held the largest share in the Self-Service Kiosk market in 2020 and is growing at a CAGR of 9.21% during the forecast period. Self-ordering kiosks are constantly gaining traction in the transformation of the way orders are delivered in fast-service restaurants with a high footprint. Popular fast-food restaurants such as McDonald’s, KFC, and Pizza Hut have already embarked on the most ambitious transition, integrating a range of emerging technology and ground-breaking cashless payment service concepts. The COIVD-19 pandemic has further unlatched doors for self-ordering kiosks in the food ordering application. Ticketing printing self-service kiosk are commonly used in travel, theme parks and film theatres. Ticketing self-service kiosk offers the end user the ease of printing their tickets. Ticketing self-service kiosk uses modern and it combines with any configuration, whether they are put outdoors in the open or inside the premises, helps to improve customer service.
Self Service Kiosk Market Segment Analysis By End Use Industry
The Retail sector held the largest share in the Self-Service Kiosk market and is anticipated to grow at a CAGR of 7.28% through the forecast period. As they provide information and advertise the offerings to shoppers without the need for actual entry of shoppers into the retail stores, the demand for kiosks for retail applications is increasing. It also helps the attention of consumers to be attracted to in-store product details and promotional displays of goods and services. Whereas, the growing shopping malls in emerging country also drive the market growth. Checking-in/check-out at hotels take too much time on front desks. So, self-service kiosks are the best working alternative to save time during the check-ins and check-outs.Self-service kiosks at hotels or resorts provide access to onsite dining and room service menus and ordering, salon reservations, local car rental services, all at a touch of a button. This results in increased customer satisfaction by allowing guests to access concierge functions.
Self Service Kiosk Market Segment Analysis – By Geography
APAC held the largest share in the Self-Service Kiosk market in 2020 up to 33%. This can be attributed to rapid urbanization and consumer preference for convenience. The contactless payment option helps clients to complete transactions easily, conveniently, and safely. In addition, growing acceptance in the banking and financial services sector is also driving the region’s market growth. According to RBI, India on-site ATMs increased to 112,458 in 2019 from 104,011 ATMs in 2018. In Japan, the retail market is one of the big industries facing a threat to customer requirements. Users prefer stores that have a simple and trouble-free shopping experience, but also deliver higher service. Thus, various industries are investing in self-check kiosks and POS systems, which enable a faster shopping experience with easy access to information about the availability of the products.
Self Service Kiosk Market Drivers
Advances in technology are enabling the usage of self-service kiosk
Advanced technology such as incorporating Intelligent Personal Assistant & Knowledge Navigator applications such as Siri and Cortana in self-service kiosks has increased the market growth. This self-service kiosks market is improved the consumer engagement with the machine by leveraging data analytics to determine individual purchasing habits, quantity sales and several other criteria and recommend the right incentives and alternatives to affect customer purchase decisions. It would boost revenues and enhance customer ties, providing the market with a major growth opportunity. Vendors are likely to continue to run interactive self-service kiosks to provide their customers with online shopping options and to promote products and services that are not in stores. Such interfacing capabilities complement retailers by offering convincing product demos and also allowing retailers to sell goods without stocking up.
The outbreak of COVID-19 pandemic drives the market growth
Self-service kiosks can help to reduce the risk of spread of diseases in many places by limiting accessibility to a wide number of users. Many businesses are using self-serving to minimize human-to-human encounters with most day-to-day activities by replacing the interaction with a human-to-machine interface. There are various ways that self-service technologies can help battle COVID’19. Self Service kiosks eliminate the need for person-to-person contact, Help in maintaining user confidence and specialized kiosks to prevent transmission of the virus and spread of COVID’19. Self-service machines with temperature recognition systems held at the doors of various stores/hotels help to test people based on their body temperatures and allow for those with normal temperature conditions to check in
High upfront investment and ongoing financial crisis to hinder market growth
Several businesses are automating the sales process by deploying smart kiosks involving the delivery of large amounts of capital. This involves purchase costs, process costs and costs incurred with the repair of the facilities. In addition, in the wake of the current pandemic, businesses are facing difficulties in responding to changing hourly demands. The corporations are already facing a serious cash shortage, which means that they are also forced to lay off some of their workers. This is likely to have an effect on businesses in the coming years, with the magnitude of the recession rising on a regular basis and hindering unparalleled economic growth. Several expenses are involved in the implementation and operation of self-service kiosks, such as kiosk software costs, touchscreen, 24*7 technical assistance, software administration, installation and so on. The high construction and repair costs of ATMs, vending machines and kiosks pose a threat to business development in emerging economies.
Self Service Kiosk Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Self Service Kiosk Market. Diebold Nixdorf, SLABB, NCR, Embross, Kiosk Information System, Toshiba TEC, OLEA Kiosks, Azkoyen, Hitachi and Crane are considered to be the key players of the Self Service Kiosk Market. Buy Now
Acquisitions/Technology Launches/Partnerships
Hitachi Omron Terminal Solutions acquired Interblocks Limited, which was a provider of various payment-related software products and services. With the acquisition the company accelerate the development of solutions with cash and non-cash transaction channels like Automated Teller Machines, mobile banking or smartphone-based payment, bank counters and others.
NCR added SelfServTM 63 a cash recycling ATM, a self-service device specially designed for premium floor space and offers flexibility in accepting, validating and storing cash quickly and reliably.
Wireless Radio Access Network (RAN) is a part of mobile telecommunication system. It is wireless network infrastructure associated with macro cell RAN used for sharing cell sites, transport infrastructure, radio spectrum, and baseband processing resources. Radio and network as a service and baseband processing on the cloud are innovations to increase the data usage efficiency. It lays between devices such as mobile phone, computer and remotely controlled machine and provides connection with its core network. Wireless Ran provides connectivity between core network and the user equipment. It is a new wireless concept which provides flexibility, scalability and energy saving. It is advantageous for deploying large networks of small-base stations and is beneficial for operators in reducing maintenance cost and upgrading their networks.What is Wireless RAN?Radio Access Network is abbreviated as RAN. It allows radio sites to provide radio access and coordinate management of resources across the radio sites. A device is connected wirelessly to the core network, the RAN transmits its signal to various wireless endpoints, and the signal propagates with traffic of other networks. The RAN controller regulates the signal flow at the nodes that are connected to it. The network controller is applied for radio resource management, mobility management, and data encryption. It connects to the circuit-switched core network and the packet-switched core network, depending on the type of RAN. Radio access networks are broadly classified into two types i.e. Generic Radio Access Network and GSM Edge Radio Access Network. GRAN uses base transmission stations and controllers to manage radio links for circuit-switched and packet-switched core networks. GERAN supports real-time packet data. Two other categories of radio access networks are UMTS Terrestrial Radio Access Network (UTRAN), which supports both circuit-switched and packet-switched services; and Evolved Universal Terrestrial Radio Access Network (E-UTRAN), which focuses only on packet-switched services. E-UTRAN also provides high data rates and low latency.
What are the major applications for Wireless RAN?Traditional Radio Access Networks (TRAN) is one of the type of Radio access network that has been in use since the origination of cellular technology. It comprises the Base Station (BS) that makes the connections to sector antennas. These antennas cover a small region depend upon their capacity and can act as a transceiver of information within this small region only. But nowadays every entity has different range needs and also variable data access speed requirements, in implementation of solution for providing such services to end users such as defense, aerospace, data centers, industries, health service providers and many more sectors the Wireless RAN infrastructure is needed. RAN technology has aided the advent and success of 4G data revolution and is expected to be utilized in the wide range coverage of 5G networks as well. The telecom companies are primarily using the RAN equipment to deploy their services in a much effective and efficient manner.
Market Research and Market Trends of Wireless RAN Ecosystem
RAN architectures lately are being used particularly in digitally transformed networks they separate the user plane from the control plane into different network elements. In this algorithm, the RAN controller can exchange user data messages through a software-defined networking switch, and a second set with base stations via a second control-based interface.
In RAN technology, the separation of control plane and data plane will be a vital aspect of the flexible 5G radio access network, as it aligns with SDN and network functions virtualization (NFV) techniques such as service chaining and network slicing.
Radio Access Network Evolution towards 5G technology has led to upsurge in the number of patents. Due to the 4g technology becoming popular there is stringent competition amongst firms and moreover their healthy competition has now turned into a technology- war like situation.
The market is currently going through data revolution. With the growing implementation and development of technologies such as cloud computing and AI, the W-RAN usage is also intended to grow. The modern RAN architecture should offer high-speed data connectivity to facilitate these technologies.
The carrier-grade Ethernet-based virtualized RAN (vRAN) is an innovative solution that implements LTE-Advanced features and brings intelligence to the edge of the network for better utilization of the radio resource and to enhance quality of experience for the users, it features UL-CoMP which provides significant improvement in uplink performance; and Inter-site Carrier Aggregation, which provides significantly higher throughput and performance gains by reducing handover signaling.
SDR (Software defined radio) technology has recently penetrated into mobile systems of new generation as well as increasing throughput demands in radio access network (RAN) are main reasons for development of the technology in radio access network world, better known as Cloud-Radio Access Network (C-RAN). This innovative architecture which is popular among telecom companies in China should significantly decrease business costs of Telecom companies.
Who are the Major Players in Wireless RAN market?The players profiled in the report include Intel Corporation, Huawei, Ericsson, Nokia Siemens network, Samsung, D-Link, Alcatel-Lucent, Asus, TP- Link, Netgear. What is our report scope?The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024. All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs. Key Takeaways from this Report
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MARKET REPORTS ANALYSIS 