Research Reports

Adaptive Robotics Market, Size, Share, Outlook and Growth Opportunities 2019-2026

5:43 pm 27 July 2020

Market Overview

Adaptive robotics acceptance is increasing worldwide and integrated with other emerging technologies, and amplify the benefits. Integrating technologies like Voice recognition and 3D vision will allow adaptive robots to give best results and function more autonomously. Furthermore, adaptive robots can access, control, collect diverse IoT data sets and useful, in order to make complex decisions autonomously. The value of adaptive robotics is already being recognized by companies across the world. For instance, General Electric Lighting uses adaptive robots in its Hendersonville, NC plant to build high volume roadway light fixtures and increase productivity. In addition to manufacturing and construction, customer-facing industries like retail, banking, and travel will be early adopters of adaptive robots.
Google filed a patent outlining a robot that changes personalities based on circumstance and a wide variety of user information. Google also outlined a series of robots that could be used in warehouses and a system for controlling how quickly they move and accelerate to ensure that these bots can safely load cargo.

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Market Dynamics

Speech recognition, vision, sensing, and capable of acting based on various types of IoT data are the prominent technologies used in adaptive robotics when paralleled with traditional robotics. Usage of artificial intelligence, behavioral sciences, and communication & multimedia design in adaptive robotics are the major factors playing a crucial role in expanding adaptive robotics in various applications. Furthermore, increasing technological advancements, rising R&D investments in artificial intelligence & robotics, and, growing adoption of IoT & industry 4.0 are the key drivers impacting the market in the estimated period.
Rising R&D investments in artificial intelligence and robotics are the key driver for the growth of the market worldwide. Economies are focusing to invest in technologies for strengthening their testing and experimentation facilities in the robotics industry. For instance, Europe has allocated USD 2.78 billion for artificial intelligence to facilitate safe access and storage of data and algorithms. Robotics companies have raised more than USD 15.6 billion during the first half of 2019. According to the robotics investments tracked and verified by The Robot Report, more than USD 2.6 billion has been raised on average per month. For instance, In February 2019, Horizon robotics has invested USD 600 million for Ai and IoT. Adding to this, In March 2019, Think surgical has invested USD 134 million on surgical robotics.
Safety issues, difficulty in designing and huge capital investment are the major restraints hampering the growth of the market globally. High initial infrastructural investment and maintenance costs are associated with adaptive robots. Adaptive robots come in various sizes and have collision detection capabilities. Increased human-robot interaction raises the risk of human injury. Many organizations may not let humans and robots share the
same workspace. This limits the potentiality of the adaptive robot uses in many scenarios where the presence of humans is imperative. Robots in workplace are viewed negatively, as a technology that is going to reduce job opportunities.

Market Segmentation

Based on the end-user, the global adaptive robotics market is segmented into retail & manufacturing, banking, healthcare, travel & transportation, construction, logistics, others. The global logistics market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Logistics segment is expected to maintain a constant growth rate in the estimated period. worldwide. Robots automate the process of storing and moving goods as they make their way through the supply chain in Logistics. Improving worker productivity and accuracy by using robotics in ware house and storage facilities are the major factors for the growth of the logistics segment in the estimated period.
Logistic companies have started using robotics to improve their supply chain process. For instance, Companies such as Quiet Logistics are using adaptive robots, which autonomously drive to an item’s location, showing their human coworkers what and where to pick. Quiet Logistics is able to increase picker accuracy and improve worker productivity by 5-8 times. Adding this, Adaptive robots from I Am Robotics navigate warehouse aisles and help scale distribution centers to lower overhead costs and reduce order fulfillment times by identifying and procuring products requested.
By application, the global adaptive robotics market is segmented into industrial robots, consumer Robots, service Robots, logistics Robots and swarm Robots. The global service robots market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Service robotics is expected to hold a major market share in the forecast period. Service robots are engineered to assist humans and perform useful tasks on their behalf. For instance, Honda's Asimo robot is an autonomous, humanoid robot that could help the elderly by getting them food or turning off lights.
Demand for service robots in defense, healthcare, and agriculture is driving service robot growth due to the high labor costs, scarcity of skilled workers, and increasing awareness of service application. For instance, Thomas Jefferson University Hospital is using adaptive robotics to provide remote access to medicine and reduce patient transfer rates. The hospital uses InTouch Health’s RP-Vita, an adaptive patient-care robot, that combines the latest in autonomous navigation and mobility with the latest in telemedicine technology. Furthermore, Service robots in manufacturing facilities use adaptive robots for a wide range of tasks such as welding to painting. These adaptive robots are programmed to accomplish one task repeatedly.
On the basis of component, the global adaptive robotics market is classified into sensors, control Systems, actuators, control systems and Others.
By sales channel, the global adaptive robotics market is divided into distribution channel and direct channel.

Geographical Analysis

Global adaptive robotics market is segmented into five major regions including North America, Europe, Asia Pacific, South America, and the Middle East & Africa region.
The North America adaptive robotics market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. North America is dominating the global adaptive robotics market in 2018 and estimated to hold largest market size over the forecast period. The market share for adaptive robots was highest in North America, and is growing due to the high demand for personal assistance robots & collaborative industrial robots and huge investments. For instance, Canadian marine robotics firm Kraken Robotics acquired a majority share in Rostock, Germany-based Kraken Power for USD 110,000.
Government in this region is focusing on robot gripper technology in combination with adaptive robotics. For instance, The U.S. Department of Defense is soliciting proposals to establish an Institute focused on robotics in manufacturing environments. The federal government would provide USD 80 million over 5 years, which would be matched with at least USD 80 million from non-federal funding sources. Furthermore, Leverage over USD 160 million in funding to establish an institute focused on advanced industrial robotics as part of the “Manufacturing USA” National Network for Manufacturing Innovation.
The Asia Pacific logistics market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Asia Pacific is expected to grow at a high CAGR in the forecast period. Growing investments by major industrial players and increasing government support are the key factors responsible for the growth in the Asia-Pacific adaptive robotics market. For instance, Investment in robotics and related services are expected to double from the USD 60 billion in 2016 is to more than $133 billion in the Asia Pacific region by 2020 as per the worldwide commercial robotics spending guide.
Adoption of robotics in China, Japan, India, and South Korea is increasing in various applications. For instance, China, which is one of the major countries from this region and also in the world is increasing its defense spending year on year, makes this region as a favorite spot for the commercial robotics. According to the International Federation of Robotics, China is the world's largest market for industrial robots and now accounts for more than 30% of global sales. Japan is developing a global base for robot innovation to promote public-private partnerships, initiate R&D capabilities, & develop regulations for data security. For instance, In July 2019, Connected robotics, A Japanese company develops specialized robot systems for cooking in restaurant kitchens has secured investment worth approximately USD 8 million.

Competitive Analysis:

The adaptive robotics market is highly concentrated owing to the presence of several international and regional vendors. Adaptive robotics manufacturers are offering products integrated with multiple features and advanced technologies.
Some of the major players include iRobot, Rethink Robotics, SoftBank Group, Universal Robots, Yaskawa Motoman, Giraff Technologies, HONDA, PaR Systems, Robotiq, Teledyne SeaBotix.
The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Adaptive Robotics Market.
IBM has announced that they can partner with businesses at different stages of their robotics journeys who are interested in adaptive robotics.
For instance, In February 2019, Approximately USD 3.9 billion worth of acquisitions were done worldwide. For instance, Auris Health has acquired Johnson and Johnson which is into surgical robots’ technology for USD 3400 million.
In April 2019, The Japanese technology group, Yaskawa, officially opened its new robot production facility with the European robotics development center at Kocevje in Slovenia.
In November 2018, SoftBank Robotics and Brain Corp collaboratively announced a commercial robot vacuum in Japan, which is specially designed to be utilized in office environments and retail spaces.

Key Takeaways:

Robotics, comprised of European Commission and 180 companies and research groups, has developed the SPARC initiative to create 240,000 jobs and grow Europe’s robotic market by USD 4.5 billion annually.
Industry 4.0 has been targeting the digitization of the manufacturing process with the use of robots and other physical systems, to drive efficiency and operational flexibility.

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3D Printed Drugs Market – Size, Share and Forecast (2019-2026)

5:42 pm 27 July 2020

Market Overview

The Global 3D Printed Drugs Market is expected to grow at a CAGR of 19.20% during the forecasting period (2019-2026).
3D printed drugs are drugs manufactured by solidifying layers of materials to form a definite 3D structure. The adaptability of 3D printing is also applied for the precise and unique dosing of medicines, to present more efficient drug administration. 3D printing is expected to be an efficient method to enhance the application of several controlled drug release mechanisms, during the forecast period.
The global 3D Printed Drugs market size was worth $ XX billion in 2018 and is estimated to reach $ XX billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).

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Market Dynamics

The global 3D Printed Drugs market growth is driven by several factors such as, rising healthcare disorders globally and rising demand for cheaper drugs or pills, and increasing adaptability of 3D printing in the medical industries. With rising awareness towards to the advantages of 3D printed drugs, such as their instantaneous solubility. 3D printed drugs are extremely easy to swallow. As these drugs can be customized according to the requirement of every patient, assisting way better than batch-produced drugs, the demand is expected to grow over the forecast period.
In addition, the increasing advancements in 3D printing technology and the rising investments to increase the research activities for the development of highly efficient 3D printed drugs are also expected to boost the growth of the market during the forecast period. For instance, in December 2017, Aprecia and Cycle Pharmaceuticals from Cambridge in the UK announced a partnership to develop and commercialise 3D printed tablets for orphan (rare) diseases using the ZipDose technology. In 2015, the Howard Hughes Medical Institute developed a molecular 3D printer for formulating new drugs by synthesizing blocks of small molecules from the basic chemical pattern.
New players are also entering the market with advanced technology to meet the rising demand, which creates several opportunities in the market over the forecast period. For instance, FabRX, a biotech start-up that specializes in 3D printing medicines, is providing personalized medicines and drug-loaded medical devices through their patented technologies. The company’s propriety technology Printlets offers personalized dosages, polypills, chewable medicines, and fast-dissolving tablets. The company is also developing drug-loaded medical devices using SLA.
However, the adverse effect of 3d printed drugs, lack of government regulations are expected to hinder the growth of the market. Also, there are several scandals and hacking of data which is stored online which could results in patients being increasingly reluctant regarding disclosing their medical information. In addition, mislabelling of blueprints and inputting wrong description is also a big challenge for the market as a 3D blueprint is required to be made of the patient, their dosage, and medical history to prepare a 3D printed drug.

Market Segmentation

By technology, the market is segmented into inkjet printing, fused deposition modelling (FDM), stereolithography (SLA), and others. The fused deposition modelling is expected to hold the highest market share during the forecast period, owing to the increasing innovations and technological advancement in the field of pharmaceutical drugs. Fused deposition modeling (FDM) is combined with hot melt extrusion (HME) to produce drug-loaded filaments, represents one promising technique for 3D printing drugs. However, the major challenge is that the temperatures needed during printing might degrade active pharmaceutical ingredients (APIs).
On the other hand, the inkjet printer technology is estimated to grow at the highest growth rate over the forecast period, owing to high adoption among patients as it produces 3D Drugs tablets at a constant rate and has technologically advanced properties. In inkjet printing, different combinations of active ingredients and excipients (inks) are sprayed through a nozzle to deposit three-dimensional structures in solid dosage forms. This layer-by-layer deposition of the drug ingredient gives rise to a three-dimensional tablet.
Stereolithography (SLA) is another promising technology for the fabrication of drug-loaded tablets. In general, SLA uses a laser beam to photopolymerize monomers. Using SLA, a team out of University College London combined a drug monomer with a photoinitiatior in order to produce a resin-based pill.
By product, there is only one FDA approved 3D printed drug; however other drugs may enter into the market during the forecast period (20192-2026). In August 2015, the US Food and Drug Administration (FDA) approved the first three-dimensional printed oral drug product, Spritam (levetiracetam), from Aprecia Pharmaceuticals. Levetiracetam is indicated as adjunctive therapy for partial-onset seizures, myoclonic seizures, and primary generalized tonic-clonic seizures in adults and children with epilepsy. Spritam (levetiracetam) was developed with Aprecia's proprietary ZipDose technology, which uses three-dimensional printing to create a porous formulation of the antiepileptic that disintegrates rapidly with a sip of liquid, even at a high dose of up to 1000 mg.

Geographical Analysis

North America is dominating the global 3D printed drugs market accounting for largest market share in 2018, owing to increasing number of chronic disorders, presence of advanced domestic healthcare infrastructure, high investment in research and development, and rising adoption of technological advancements in 3D printing. As Aprecia Pharmaceuticals has successfully got FDA approval of the first 3D printed drug, Spritam, and currently selling in the U.S market, hence, this region is the largest contributor to the market share of 3D printed drugs.

Competitive Landscape

Aprecia Pharmaceuticals, FabRx Ltd. Technologies Inc., are the major players of 3D printed drugs market and GlaxoSmithKline (GSK) is considered to be a potential player as the organization is expecting to invest considerably in the industry over the forecast period (20129-2026). Other drug makers are expected to grab the market share in the near future on account of the swift advancements in technology.
The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the 3D Printed Drugs market globally. For instance,
In March 2019, Aprecia Pharmaceuticals and CMIC CMO collaborated to develop business opportunities in Japan for Aprecia’s ZipDose Technology and expand 3DP products globally. CMIC CMO’s services include identifying prospects in Japan, generating awareness and facilitating discussions of technology licensing agreements, research collaborations and distribution-partnerships. Through this engagement Aprecia seeks to expand its 3DP products globally, and this agreement highlights the importance of Japan in its long term strategy.
In November 2018, Yissum, the technology transfer company of The Hebrew University announced a novel technology for the 3D printing of drug capsules. The technology is based on custom-printed 3D hydrogels with delayed release characteristics. This step help pave the way for pills that can be tailored to perform better than the conventional capsules manufactured currently.
In December 2017, Aprecia Pharmaceuticals, a 3DP Pharmaceutical Company, and Cycle Pharmaceuticals Ltd. signed a partnership agreement to develop and commercialize orphan drugs using three-dimensionally printed (3DP) technology. The planned products will deliver quality-of-life improvements versus existing, approved orphan drugs, and will achieve this by utilizing Aprecia's proprietary 3DP ZipDose Technology platform, which is the only three-dimensional printing technology for pharmaceutical drug product approved by the U.S. Food and Drug Administration

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Healthcare Fabrics Market, Size, Share, Outlook and Growth Opportunities 2019-2026

9:03 pm 25 July 2020

Market Overview

The Global Healthcare Fabrics Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
Healthcare fabric has its main applications in the healthcare and medical sector. It can be reused and is cost effective. It is used for baby and adult diapers, adult sanitary products, operating gowns, wipes, operating drapes, sterilization packs, sutures. It is also used for blood flow prevention, chronic, wound prevention, wound care, and for wound dressing. Countries like India and China have started supporting and providing various schemes to encourage the healthcare and medical fabric market. For instance, Indian Government have allocated USD 28 million for healthcare fabrics segment.

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Market Dynamics

Increasing demand for convenient wound dressing material and rising usage of non-woven fabrics in healthcare industry are the major driving factors for the market growth worldwide. High absorbing capability of liquids, strength, stretch ability, softness, and price are the foremost qualities for the usage of non-woven fabrics in healthcare industry. Developing the quality of healthcare fabrics and rising user approachability about cleanliness are expected to drive the growth of healthcare products in the estimated period. Polypropylene and polyester are the few key types of non-woven fabrics. In North America, these nonwoven-based products account for 90% of all surgical drapes and 95% of all surgical gowns due to various advantages of non-woven fabrics over knitted fabrics and woven fabrics.
The growing investments in healthcare facilities are driving the growth of PET nonwoven fabrics in the emerging countries. For instance, in July 2019, Flare Capital Partners, has invested USD 255 million in committed capital healthcare. Companies are concentrating to develop the products with new innovations. For instance, Freudenberg Performance Materials’ has developed nonwovens and polyurethane foams to the medical and wound care industry for more than three decades. It has recently introduced several innovations. Among them are multilayer foam-nonwovens components with superabsorbent nonwovens.
Lack of awareness of personal hygiene in developing economies is the major restraint hampering the growth of the market worldwide.

Segment Analysis

By material, the healthcare fabrics market is segmented into polyethylene, polypropylene, cotton, polyester and others. Others include polyamide and viscose. The Healthcare Fabrics market size by material was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Polyester segment is expected to grow with high CAGR in the forecast period due to its great performance at reasonable cost. Fabrics made out of polyester have high tensile strength and very strong.
The demand for polyester segment is expected to increase owing to its chemical resistant, abrasion-resistant, wrinkle-resistant and also highly durable. In March 2017, Precision Fabrics Group Inc. developed DermaTherapy, bedding products that include sheets, pillowcases and under pads with fabric technology that provides a cleaner and drier, hypoallergenic lint-free sleep surface. DermaTherapy bedding is a vast improvement over products using polyester and cotton.
By type, the market is segmented into knitted fabrics, woven fabrics and non-woven fabrics. The Healthcare Fabrics market size by type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Non-woven fabrics are used in several cleanness products extending from baby diapers, to adult products. Non-woven fabrics are used as a substitute to traditional materials owing to their smoothness, strength, exceptional absorption properties, and cost effectiveness when compared with other type of fabrics. Studies have shown the benefits of nonwovens compared to reusable materials, as nonwoven-based products are more likely to reduce instances of infection and lessen the opportunity for cross-contamination.
For decades, Ahlstrom-Munksjö has been developing nonwoven medical and healthcare fabrics that are used for surgical gowns, protective apparel, sterilization wraps, drapes, face masks and coveralls. Adding to this, Jacob Holm Group is a leading innovator of spunlace nonwoven fabrics and finished goods. Their nonwovens can be found in markets ranging from hygiene and consumer wipes to health care and skin care and industrial cleaning under the Sontara, Sontara Beauty, SoftFlush and SoftLite brands.
By application, the market is segmented into dressing products, clothing, hygiene products, wall coverings, privacy curtains, bedding and blankets and others.

Geographical Analysis

The Europe healthcare fabrics market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. In Europe, the healthcare sector is growing in a tremendous way. It is one of the foremost markets for healthcare fabrics market. Structural changes executed in the healthcare systems in European countries have boosted the healthcare fabrics market in the region. U.K, Germany, Italy and France are expected to grab major share for the healthcare fabrics market in Europe.
Adding to this, increasing investments in healthcare, advancement in medical equipment and improvement in treatment procedures are the major reasons for the market growth. For instance, In March 2019, Gilde Healthcare has raised USD 224 million to invest in suppliers of medical products and other health businesses. The fund moves the amount raised by Gilde’s healthcare investment vehicles past the USD 1.12 billion mark.
The Asia Pacific Healthcare Fabrics market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Asia Pacific is expected to grow with high CAGR rate in the forecast period. Rise in urbanization and elderly population are the driving factors for the healthcare industry in the country. Governments in Asia Pacific economies are spending and allocating huge amounts of money in their budgets. High government spending’s and investments have expressively promoted the healthcare sector in the country, which, in turn, has boosted the healthcare fabrics market in Asia Pacific region. For instance, in 2019, the government of India has allocated USD 8.7 billion for the healthcare budget. The allocation was made in order to promote reform, healthcare startups and upgrading of government hospitals especially in rural parts of the country.

Competitive Landscape:

The Healthcare Fabrics market is a competitive with existing players in the market. Some of the major players include Advanced Fabrics, Maharam Fabric Corporation, Carnegie Fabrics, LLC, Architex International, Brentano Inc, Designtex, Paramount Tech Fab Industries, Arc-Com, Knoll, Inc. and Kimberly-Clark Corporation.
Companies are focusing to introduce new solutions and technologies. For instance, Suominen is offering a range of technologies for the medical market. A specialty 100% cotton entangled nonwoven called Webril is designed for medical applications requiring high absorbency and easy tear.
Turkish based nonwovens producer Mogul, offers polypropylene SMS type of fabrics for medical/surgical gowns and robes, polypropylene spunbond and meltblown for face masks, Aqualace (parallel-laid spunlace) fabrics for surgical swabs.

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Infrared Sensors Market, Size, Share, Outlook and Growth Opportunities 2019-2026

9:03 pm 25 July 2020

Market Overview

The global Infrared Sensors Market is expected to grow at a CAGR of 7.1% during the forecasting period (2019-2026).
Due to the growing demand for autonomous automobiles all around the world, it will grow the market for Infrared sensors in the forecast period.
An infrared sensor is an electronic instrument that is used to sense certain characteristics of its surroundings by either emitting and detecting infrared radiation. Infrared sensors are also capable of measuring the heat being emitted by an object and detecting motion. Infrared sensors are components that can detect and produce light in the IR wavelength range. IR sensors have an IR light source, medium, optical components, and the IR detector.
The report covers all the major trends and drivers playing a key role in the growth of the Infrared Sensors market. The infrared Sensors market is segmented by Spectrum range, Working Mechanism, End-User Industry, and Region.

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Market Dynamics

The global Infrared Sensors is primarily driven by the growth in the autonomous automobile industry all around the world. With the rise in the demand for electric vehicle, the production of the EV has grown widely across all the major countries. Also, the rising connectivity in this connected world due to the popularity of autonomous automobiles, with the use of sensors in the car for temperature monitoring, and requirement in autonomous vehicles will grow the market for infrared sensors in the forecast period.
Security systems rely on smart sensors technologies and hence have become an essential part of military systems. The rise in military budgets all around the world is expected to grow the market for the infrared sensors for the forecast period. For instance, according to the Stockholm International Peace Research Institute (SIPRI), total world military expenditure rose to $1,822 billion in 2018, representing an increase of 2.6 percent from 2017. The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India, and France, which together accounted for 60% of global military spending.
However, due to the high cost of technology and various regulations by governments are some factors that will be hampering the growth of Infrared Sensors in the forecast period.

Segment Analysis

By the Spectrum range, the global Infrared Sensors market is segmented into Longwave, shortwave, and mid wave. Longwave Infrared Sensors have the dominant position in the Infrared Sensors market and is expected to retain its dominance in the forecasted period as they have wide application in the military and civil application. Rising demand for infrared sensors in defense applications and motion sensing has acquired largest market share for North America followed by Europe. It is expected that the Long wave infrared Sensor market will grow at a CAGR of ~XX% during the forecast period.
By Working Mechanism, the global Infrared Sensors market is segmented into Active, and Passive. Passive infrared sensors have a dominant position in the Infrared Sensors market. Although with the wide application of active infrared sensors in the home automation is expected to grow the infrared sensors market with higher CAGR in the forecast period.

Geographical Analysis

By geography, the global Infrared Sensors market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
APAC holds the largest market share for Infrared Sensors due to the high demand for various infrared Sensors in countries like India and China because of the rise in the automotive industry. Moreover, the high demand for electronics like mobile, tablets, and others is also driving the market for the region. And hence there is a rise in the production of electronics in countries like India. For instance, according to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 percent of global mobile production, which was only 3 percent in 2014.
North America is after APAC in terms of the market share of Infrared Sensors the rise of Oil & gas exploration in the region will be the major driver for the infrared sensors market in the forecast period. For instance, Annual U.S. crude oil production reached a record level of 10.96 million barrels per day (b/d) in 2018, 1.6 million b/d (17%) higher than 2017 levels. In December 2018, monthly U.S. crude oil production reached 11.96 million b/d, the highest monthly level of crude oil production in U.S. history. U.S. crude oil production has increased significantly over the past ten years, driven mainly by production from tight rock formations using horizontal drilling and hydraulic fracturing.

Competitive Analysis

Key players are adopting strategies such as investing in R&D, new product launches, expansion in Technology to stand out as strong competitors in the market. Global Infrared Sensors is a competitive market with the presence of various global and regional players in the market. The major players Excelitas Technologies Corp., Texas Instruments Inc., FLIR Systems Inc., Raytheon Co., and Omron Corporation. Other key players in the market include Hamamatsu Photonics KK, ULIS and Murata Manufacturing Co. Ltd., Wuhan Guide Infrared Co. Ltd, Nippon Avionics Co. Ltd, and Teledyne Technologies Inc.
In February 2019, Melexis announces a new version of its popular far-infrared (FIR) thermal sensor array. The new device has lower thermal noise compared to the current MLX90640, an increased refresh rate of 64 Hz and an elevated operating temperature up to 125 °C.

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Hydrogel Market, Size, Share, Outlook and Growth Opportunities 2019-2026

9:01 pm 25 July 2020

Market Overview

The Global Hydrogel Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
Hydrogel is a water-insoluble polymer chain network that can retain high water content within its structure (about 90% water in the gel base). Hydrogels are used in hygiene products such as baby diapers, sanitary pads, adult incontinence pads, and soft contact lenses. Natural and synthetic hydrophilic polymers can be physically or chemically cross-linked in order to produce hydrogels. Their resemblance to living tissue opens up many opportunities for applications in biomedical areas.

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Market Dynamics

The global Hydrogel market is primarily driven by the increasing incidence of acute, traumatic, and chronic wounds. In addition, they are also used during the treatment of partial or thick wounds, necrotic wounds, burns, and autolytic debridement. Approximately, 1-2 out of every 100 individuals experience a chronic wound in their lifetime. For instance, pressure ulcers are chronic wounds which are caused by unrelieved pressure on the skin and can develop over the hip, shoulder, and back. Pressure ulcers appear as an abrasion, persisting redness of the skin, and blisters that can be treated using hydrogel dressings.
Moreover, market growth will mainly be driven by the ability of hydrogel to offer superior performance compared to conventional products. Rising hygiene awareness, coupled with growing infant and aging population in emerging economies, and continuous demand for feminine hygiene products, is expected to drive the hydrogel market in the hygiene industry. Hence, the demand for hydrogel is increasing in the personal care & hygiene sector. As the sector is growing, the demand for hydrogel is expected to grow during the forecast period.

Segment Analysis

By material, the global Hydrogel market is segmented into Polyacrylate, Polyacrylamide, Silicone, and Other Materials (Agar, PEG, PVP, PVA, Gelatin). The polyacrylate segment of the hydrogel market is anticipated to grow at the highest during the forecast period. This growth can be attributed to the water retention ability of polyacrylate hydrogels that increase their applicability in the personal care & hygiene application. Moreover, superior properties of hydrogels, such as transparency and elasticity, have further led to the growth of the polyacrylate segment.
By application, the global Hydrogel Market is segmented into contact lenses, hygiene products, wound care, drug delivery, tissue engineering, and others (agriculture, forensics, and research). With growing personal care and hygiene, agriculture, and pharmaceuticals and healthcare sectors in countries, such as China, India, and Brazil, the demand for hydrogel is expected to increase in developing countries.
The hygiene products application segment is expected to grow at a significant pace during the forecast period, primarily driven by baby and child-specific products, depilatories, and oral care products.

Geographical Analysis

By geography, the global Hydrogel market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America holds a major share of the market due to the growing demand for hydrogel in agriculture, biotechnology and medicine, tissue engineering, and others. However, APAC is expected to higher CAGR during the forecast period. The Asia Pacific region is anticipated gain an enormous development due to increasing population and growing per capita income. It is likely that the synthetic hydrogel division is set to experience a higher growth rate due to increasing demand for drug delivery systems, health care and hygiene, agriculture, and others. Due to these driving aspects, countries such as Japan, China, and India are anticipated to be the major key players in hydrogel market.

Competitive Analysis

Hydrogel market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Hydrogel. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Hydrogel. Merger, acquisition, and product development are key strategies adopted by leading players.
The major players include 3M, Sekisui Plastics Co. Ltd, Johnson & Johnson Services, ConvaTec Inc., and Novartis AG. Other prominent players in the market are Ambu, Bausch Health Companies Inc., BSN Medical GmbH, Molnlycke Health Care, and Paul Hartmann.
In 2018, Bausch Health Companies Inc. announced the expansion of contact lens manufacturing capacity at its Bausch + Lomb sites in Rochester, N.Y. and Waterford, Ireland. The Company is adding multiple production lines at these two sites to support the manufacture of its innovative daily disposable silicone hydrogel (SiHy daily) contact lenses.

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Healthcare BPO Market, Size, Share, Outlook and Growth Opportunities 2019-2026

9:00 pm 25 July 2020

Market Overview

The Global Healthcare BPO Market is expected to grow at a CAGR of 10% during the forecast period (2019-2026)

Healthcare Business Process Outsourcing (BPO) is a procedure that enriches resource allocation, boost financial performance and increase the effectiveness of healthcare providers. Healthcare BPO services allow hospitals and medical professionals to deliver quality patient care

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Market Dynamics

Growing demand for high-end healthcare facilities and multi-specialty hospitals, established medical and central lab infrastructure and training centers are contributing to the growth of the healthcare and life sciences industry thereby fuelling the demand for medical process outsourcing. Factors that are responsible for the growth of the market include a rapid increase in clinical process outsourcing (CPO), implementation of PPACA compelled healthcare players to move toward outsourcing, and fewer errors in several non-critical functions, like finance and accounting, customer care services, etc.
In addition, developments in digital technologies leading to a shift from electronic records to telemedicine are further allowing many healthcare providers to deliver services in innovative ways. A Medical Transcription (MT) service is one of the services with voice notes being recorded and translated into various languages. The digitization of data by skilled personnel saves time for doctors while examining patients. In addition, the implementation of robotic process automation, big data, and artificial intelligence (AI) are expected to boost the market further by assisting in the collection of patient data. For instance, HGS handles the enrollment process of patients looking for insurance. The company uses bots for auto-filling information in the right fields and saving time.
The cloud-based BPO is also a growing trend in the market, which is developing business outsourcing processes, helping healthcare organizations to reduce cost by using global delivery models and secures data access. Cloud BPO or Business-Process-as-a-Service (BPaaS) is a business model to scale the processes with low expenditure costs. For instance, Infosys is the reputed partner of Aetna Inc., a pharmaceutical major in the U.S. It provided knowledge training to its personnel for handling queries of patients effectively thereby saving costs for the company. In addition, it developed a management information system (MIS) for compiling a database of patients and their respective health-related data for easy access in case of claims. Hence, the adoption of cloud-based BPO services is increasing due to its several benefits which is expected to contribute to the growth of the healthcare BPO market during the forecast period.

Market Segmentation

On the basis of provider service, the healthcare BPO market is segmented into patient enrollment and strategic planning, revenue cycle management, and patient care service. Among these, revenue cycle management is expected to grow at the highest CAGR during the forecast period, due to several factors such as increasing initiatives taken by governments for implementing RCM solutions, decreasing reimbursements in the healthcare industry, and rising expenditure by the healthcare IT industry. Several hospitals are dependent on third-party providers for denial management service, due to the lack of expert knowledge and time to manage the reimbursement process. The most common billing errors include lack of specificity, failure to verify insurance, filing an incomplete claim, missing filing deadlines, and coding errors. Most of the care providers are overcoming the challenge by working with third-party medical billing professionals who are expert in the overall revenue cycle management. Thus, the revenue cycle management service providers are increasingly in demand to overcome the revenue loss to hospitals, due to billing errors, which can be prevented by specialty.

Geographical Analysis

North America holds the dominant market share for healthcare BPO in 2018, and it is expected to maintain the growth over the forecast period, owing to the presence of a large number of US-based companies providing all kinds of healthcare BPO services. Also, growing big data, healthcare IT, cloud computing along with increasing government initiatives, and improvements are some of the factors driving the growth of the healthcare BPO market in this region. The market players are entering into strategies such as collaboration, acquisitions, and others to expand their business. For instance, in September 2018, American BPO Company, Access Healthcare has acquired its Indian rival Pacific BPO, which specializes in providing cost and process optimization solutions to businesses in the healthcare industry.
The Asia-Pacific healthcare BPO market is growing at the highest CAGR during the forecast period (2019-2026), owing to rising demand in emerging countries such as India. Factors like a mature pharmaceutical and medical education system, low cost base, large English-speaking population; large talent pool and diverse set of business process outsourcing (BPO) providers including local and multinational BPO companies are driving outsourcing in healthcare in India. India has become the most preferred outsourcing destinations globally with its high-quality and low-cost services. The recent US regulation on the Patient Protection and Affordable Care Act (PPACA) together with the proposed introduction of ICD-10 standards has driven to the Indian medical process outsourcing (MPO) market.

Competitive Landscape

The Healthcare BPO market is a highly competitive and fragmented market. The market has large competition among the major players having a global presence and a substantial market share. Some of the key players include IBM, Accenture, Gebbs Healthcare Solutions, Eli Global, Gebbs, Parexel, United Health Group, Truven Health, IQVIA, Vee Bill, and Invensis Technologies.
The key players are adopting various growth strategies such as mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the healthcare BPO market globally. For instance,
In May 2019, MiraMed Global Services, Inc. (MiraMed), a leader in healthcare revenue cycle management (RCM) services and business process outsourcing (BPO) solutions, has completed its merger with Medac, Inc., a leading provider of anesthesia revenue cycle management.
In January 2019, Conduent Inc acquired Health Solutions Plus, a major developer of healthcare payor administration solutions. The acquisition enables Conduent to better serve current and prospective commercial and government payer clients with core administration processing technology.
In March 2018, Cognizant acquired Bolder Healthcare Solutions, a privately-held provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other specialist healthcare organizations in the United States.

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Flow Meters Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:58 pm 25 July 2020

Market Overview

The Global Flow Meters Market is expected to grow at a CAGR of 6.41% during the forecasting period (2019-2026).
Measurement technology provides tools for optimizing production processes and dosing operations. In addition to pressure and temperature, the flow rate is one of the most important measured variables.
A flow meter is an instrument used to measure the linear, nonlinear, volumetric or mass flow rate of a liquid or a gas. The increased focus on modernizing the processes and operations in industries is set to increase the demand for flow meters.
Flow meters market is segmented by type, application, and geography. By type the market is segmented into Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine, and Vortex. By application, the market is further segmented by Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Food & Beverages. whereas by geography the market is divided into North America, South America, Europe, Asia Pacific and the Rest of the World.
key players in the market mainly focus on new product launches, expansions, and mergers & acquisitions to enhance their position in the flow meters market.

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Market Dynamics

Rising demand for flow rate measurement in water and wastewater management applications across the globe is expected to drive market growth over the forecast period.
Adoption of flow rate measurement technologies and instruments is also likely to gain traction in other sectors, such as oil and gas, pulp and paper, food and beverage, and power generation.
Moreover, these industries need to monitor the flow rate and water usage in their respective process which involves the use of flow meters. This has led to an increased usage of flow meters in various sectors of the market.
The increased focus on modernizing the processes and operations in industries increased the demand for flow meters. However, these flow meters are not compatible with modern machines and need to be replaced by the new ones which are smarter and intelligent. However, the cost of replacing the traditional flow meters is high and is a major factor restraining the growth of the flow meters market.

Market segmentation

Based on the flowmeter type, the flow meters market is classified into differential pressure, positive displacement, magnetic, ultrasonic, Coriolis, turbine, and vortex. Among the flow meters, Coriolis is the dominant segment which accounts for XX% of the market.
Coriolis is a popular flow meter that directly measures mass flow rate. The installation can include a single straight tube or a dual-curved tube.
The architecture with a single straight tube is easier to construct and maintain because it is subject to fewer stress forces, but it is susceptible to interference and noise. The architecture with dual curved tubes cancels out any noise picked up because the two tubes oscillate in the counter phase.
Direct measurement of mass flow rate eliminates the effects of temperature, pressure, and flow profile on the measurement and brings in high accuracy into the system. The sensor can make simultaneous measurements of flow rate and density because the basic oscillating frequency of the tube depends on the density of the fluid flowing inside.
However, Cannot measure the flow rate of fluids with entrained particles such as liquids with gas or solid particles; gas with liquid bubbles and more because such particles dampen the tube’s oscillations, making it difficult to take accurate measurements.
Based on End User, the flow meters market is classified into Water & Wastewater, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Food & Beverages. Currently oil and gas are the dominant segments and it accounts for approximately XX% of the market.
In the oil and gas industry, the flow of liquids and gases must be measured during every phase of exploration, production, and transportation. Upstream operations span offshore and onshore activities, including well testing, enhanced oil recovery, fractionation, completion, and separation to recover and prepare crude oil and natural gas. These applications demand the highest flow meter accuracy and reliability, as well as long term stability and cost-effective solutions.
Different flow meters engaged in this industry include gas ultrasonic flowmeters for custody transfer, liquid ultrasonic flowmeters for custody transfer, mass flow meters for custody transfer, electromagnetic flowmeters, vortex flowmeters.
Therefore the need for such measuring equipment followed by the prospects in the oil and gas industry to drive the flowmeter devices market.

Geographical Analysis

The North America flow meters market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. North America is expected to grow with high CAGR during the forecast period due to the shale oil and gas prospects in the region.
Shale oil and gas drilling will likely continue its pace in the coming year as the shale producers are focusing on drilling their best to extract oil and gas at the present low input cost.
Shale wells initially produce a lot of oil, however, the days pass on output declines rapidly Considering the fact U.S oil and gas producers are drilling at a higher level. Therefore the United States will lead oil supply growth over the next six years.
While Canada’s proven crude oil reserves are the third-largest in the world and the country has the nineteenth largest proven natural gas reserves globally. The average production per day of 3.5 million barrels of crude oil and 13.7 billion cubic feet of natural gas. Therefore the prominent oil and gas industry in the country will act as an opportunity for the flow meters use in the country.
when comes to the other prominent industries Canada has 6,500 food and beverage processing establishments, with more launching every day. Some of the top players include Kellogg’s, Quaker, Nestle, Pepsico, Molson, McCain, Maple Leaf, Saputo. This industry will drive the flow meters to use in the country.
Hence with the incredible strength of its shale industry, crude oil reserves in Canada and well-established manufacturing sector in the region will trigger the flow meters market in the region.

Competitive Analysis:

Some of the major players include ABB Ltd, Emerson Electric Co, General Electric, KROHNE Messtechnik, Höntzsch GmbH, Siemens AG, OMEGA Engineering Inc., Honeywell International Inc., Rockwell Automation Inc, Yokogawa Electric Co.
These key players mainly focus on new product launches, expansions, and mergers & acquisitions to enhance their position in the flow meters market.

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Formate Brines Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:58 pm 25 July 2020

Market Overview

The global Formate Brines market is expected to grow at a CAGR of 3.5 - 4.5 % during the forecast period 2019-2026.
Formate brines are the aqueous solutions of the alkali metal salts of formic acid. These salts are readily soluble in water, yielding high-density brines and known as high-temperature fluids. They are the solution of sodium, potassium, and cesium based formate in water. Various types of formates have a different degrees of solubility in water. They are receiving more responsiveness for its application in oil & gas exploration and deicing of fluids. Apart from the oil and gas industry, demand for formate brines is also increasing from chemicals, pharmaceuticals, food and beverage and leather industries worldwide.

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Market Dynamics

Broad range useful characteristics of formate brine in various applications and increasing oil and gas drilling activities are the major impacting drivers for the growth of the market.
Extensive useful characteristics of formate brine in various applications is the major driving factor for the growth of the market. The demand for formate brines is estimated to increase in the long run owing to the consistent exploration actions in new and existing wells and oilfields worldwide. Low corrosiveness, non-critical health, safety, and environmental (HSE) profile and environment-friendly and the possibility of being recycled are the major useful characteristics for the market growth. Reduction of operating costs, maximization of hydrocarbon yields, minimization of liability because formate poses little risk in the application and environmental compatibility are the key benefits of formate brines in oil and gas drilling.
Globally, companies of oil and gas are using formate brines to minimize the risk associated with high temperature and pressure. For instance, Shell (UK) Expro used Cabot’s cesium formate in a coiled tubing completion operation on the HTHP Shearwater development to diminish the risks associated with very high reservoir temperature and pressure (182°C [365°F] and 965 bar [14,000 psi]). Adding to this, Abot Specialty Fluids (CSF) has confirmed the first successful major field trials of its new cesium formate fluid in the UK sector of the North Sea.
The high price of raw materials is the major restraint hampering the growth of the market worldwide.

Market Segmentation Analysis

By type, the formate brines market is segmented into potassium formate, sodium formate, cesium formate, and others. The global formate brines market by potassium formate was valued at USD XX billion in 2018 and it is expected to reach USD XX billion by 2026, growing at a CAGR of XX% in the forecast period.
Potassium Formate is a useful chemical compound in the production of potassium metal and in the oil and gas industry, often in aqueous solution to yield a high-density, environmentally-friendly brine that can be used as a heat transfer fluid. It is available in both solid and solution form. The fluid properties of the potassium formate system were very stable during the drilling operation. Potassium formate fluids can reach 1.57 sg (13.1 ppg) at saturation. It is 76% w/w soluble in water. Traditional divalent chloride and bromide brine are not as soluble, +/- 50% w/w. The growing interest for atmosphere friendly formate brines as a drilling fluid for oil and gas drilling projects continues to drive the demand for potassium formate.
Companies are focusing to drill high-temperature gas wells using a potassium formate based system. For instance, Potassium formate brines have been used as packer fluids in HPHT wells in the Gulf of Mexico since 2002. Furthermore, Mobil Oil Germany had been drilling high temperature, slim hole gas wells in low permeability sandstone in the Walsrode Field with KCl/gel/carbonate fluids, with good success. Because of the long time needed to drill these wells (5-6 months typically), they were interested in trying a potassium formate-based system, because of the low solids content and polymer stability under high temperature.

Geographical Share

The geography part is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The formate brines market in North America was valued at USD XX billion in 2018and expected to reach USD XX billion by 2026, growing at a CAGR of XX% in the forecast period. North American market is expected to dominate formate brine market with significant oil & gas exploration activities. Rising importance for ecological harmless options for drilling fluids in this region can be accredited to their large market share globally. Rising acceptance of formate brines from deicing applications is also expected to boost its demand in North American countries. The speed of R&D in the application of potassium formate-based de-icing agents has getting faster. For instance, SynaTek, in combining with BASF, largest de-icing solution manufacturers in North America, has established, ENTRY - a potassium formate-based de-icing product for both domestic and commercial use.
The formate brines market in Europe was valued at USD XX billion in 2018and expected to reach USD XX billion by 2026, growing at a CAGR of XX% in the forecast period. Rising regulations in Europe on chemicals is expected to drive the market. Increasing the temperature stability of environmentally friendly drilling and completion fluids based on organic brine. REACH Regulation places responsibility on industry to manage the risks from chemicals and to provide safety information on the substances. Companies in Europe are extending their new plants. For instance, in May 2019, Swedish specialty chemicals company Perstorp announced its decision to construct a new plant at its Perstorp site, Sweden, to increase the capacity for Pergrip Run NF, the company’s sodium formate de-icer product for airport runways.

Competitive Landscape

The Formate Brines market is competitive with existing players in the market. Some of the major players include American Elements, Global Drilling Fluids and Chemicals Limited, Tetra Technologies, ADDCON, Dynalene, Inc., Cabot Corporation, Mudanjiang Fengda Chemicals Co., Ltd., Central Drug House., Perstorp Holding AB, ICL and Zibo Evergreen Chemical Co., Ltd.
Companies are also focusing to launch environmentally-responsible non-damaging organic salts used by the oil industry in high-performance well construction fluids to maximize the profitability of oil and gas field developments. For instance, ADDCON has launched PETROFORM PF75, potassium formate brine and PETROFORM PF97.
Companies are concentrating to improve their production capacities due to the high demand from various applications. For instance, The ADDCON formate production facilities in Norway and Germany have a capacity of 800,000 bbl/annum of formate brine and 10,000 MT/annum of formate powder.
In May 2019, Swedish specialty chemicals company Perstorp announced its decision to construct a new plant at its Perstorp site, Sweden, to increase the capacity for Pergrip Run NF, the company’s sodium formate de-icer product for airport runways.

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Fuel Additives Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:58 pm 25 July 2020

Market Overview

The Global Fuel Additives Market is growing at a CAGR of under 5% during the forecast period 2019 to 2026.
Fuels such as gasoline, diesel, and aviation fuel have various drawbacks like not allowing long-term storage, difficult for transportation, and even use. Fuel additives are helpful in improving about 20 properties of fuels by adding small amounts. These additives are added in minimal concentrations: from several ppm to several thousand ppm.

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Increasing R&D investments in new engine technologies will boost the market for fuel additives

The internal combustion engine has seen a tremendous advancement over the past century. However, direct injection of gasoline technology has become popular in recent days and now makes up approximately 38% of new light-duty vehicle sales. Another example is low-temperature combustion modes such as homogeneous charge compression ignition combustion which is the R&D process. All these new engine technologies need high-performance fuels in which fuel additives will play a critical role.
In 2016, Diesel cars are the most preferred by the EU-15 buyers, accounting for 49.9% of the EU-15 market. However, sales of the gasoline-powered vehicles have overtaken in 2017. Thereby, the consumption of gasoline fuel additives will be more in EU-15 countries especially countries such as Netherlands, Finland, and Denmark.
Stringent environmental regulations and lack of innovation of novel type of fuel additives is one of the major obstacles of the fuel additive market
Change is an on-going requirement in the fuel additives industry, often driven by strict environmental regulations across the globe. The development of new types of fuel additives is very costly due to expensive engine testing and vehicle demonstration trials.

Growing interest towards Electric vehicles in the world is the significant restraint of the market

Stringent environmental regulations on internal combustion engines, combined with technological advancements in the automotive industry, are driving the surge in demand for Electric vehicles (EVs). Worldwide sales of pure battery EVs (excluding hybrids) grew by approximately 45% in 2016. The increase in EV sales across the world especially in European countries such as Norway and France is one of the reasons for a decline in the consumption of fuel additives in this region.
Fuel additives market is classifies based on the fuel type such as Gasoline, Diesel, and Others. Also, the market is classified based on various types such as Deposit Control Additives, Corrosion Inhibitors, Antioxidants, Demulsifiers/Dehazers/Emulsion Preventives, Conductivity Improvers, Cetane Number Improvers, Antifoam Additives, Metal Deactivators, Lubricity Improvers, and others.
The report segments the geographies by regions, which include North America, South America, Europe, Asia Pacific and Rest of the World. Asia-Pacific is the leading market for fuel additives owing to growing automotive sales in this region. Moreover, Asia-Pacific is expected to grow at a higher pace due to strong government support with ad-hoc tax incentives.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. The report profiles the following companies, which includes Total SA, Chevron Corporation, Clariant AG, Evonik Industries, Shell, and many more.
Key market segments covered
Type of Fuel
- Gasoline
- Diesel
- Others (Aviation Fuel, Marine Fuel)
By Type
- Deposit Control Additives
- Corrosion Inhibitors
- Antioxidants
- Demulsifiers/Dehazers/Emulsion Preventives
- Conductivity Improvers
- Cetane Number Improvers
- Antifoam Additives
- Metal Deactivators
- Lubricity Improvers
- Others
By Region
- Asia Pacific
- Europe
- North America
- South America
- Rest of the World

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Floriculture Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:57 pm 25 July 2020

Market Overview

The global Floriculture market is expected to grow at a CAGR of over 7% during the forecast period 2019-2026.
The proliferating demand for flowers for ecoration for various occasions is a key driver for the global floriculture market. The report covers all the major trends and drivers playing a vital role in the growth of the Floriculture market. The global Floriculture market has been segmented based on geography, product type, flower type, and application.
Floriculture is a type of horticulture practice, which focuses on the cultivation of flowering and ornamental plants for gardens, as well as for commercial use. At present, advancement in plant biotechnology, which includes genome sequencing is a key factor propelling the global floriculture market. The adoption of newer techniques has resulted in increased crop yield and the development of genetically modified flowering plants. The use of modern farm practices has also led to increased profitability for farmers engaged in floriculture.

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Market Dynamics

The global Floriculture market growth is driven by Rapid growth in digitization and E-commerce. Flowers are typically used at opening ceremonies or big receptions in various parts of the words. The rising internet penetration is helping create awareness for floriculture products among consumers all around the world. For instance, earlier a large part of the cut flowers sold on the European market was through the Dutch flower auction. In recent years IT systems have been introduced into the auction and marketing processes. This has had a significant impact on trade.
Examples of digitization include the auction’s distance buying system, FloraMondo Auction Presales, the use of online shops by wholesalers, and other intermediary services of both the auction and wholesale traders.
The auction clock will become fully digital in the near future. Suppliers of some products currently sell up to 30% of their shipments via auction presales prior to the actual auctioning at Royal FloraHolland. The trend of digitisation is expected to increase rapidly in the next few years. Wholesalers are increasingly selling through online shops that are connected to the supply of their growers, and both distance buying and pre-auction sales are quickly gaining importance at the flower auction.
However, growing demand for artificial flower is expected to hamper the market growth over the forecast period.

Market Segmentation

By Product Type, the global Floriculture Market is segmented into Cut Flowers, Cut Foliage, Bedding Plants, Pod Plants, and Others. In 2018, Cut flowers and Bedding plants together held more than 60% of the market share. Cut flowers are flowers or flower buds (often with some stem and leaf) that have been cut from the plant bearing it. It is usually removed from the plant for decorative use. Theses are typically used in vase displays, wreaths and garlands. Many gardeners harvest their own cut flowers from domestic gardens, but there is a significant floral industry for cut flowers in most countries. The plants cropped vary by climate, culture and the level of wealth locally. Often the plants are raised specifically for the purpose, in field or glasshouse growing conditions. The Netherlands is the largest exporter of cut flowers around the world. The export value of fresh cut flowers was valued at more than USD XX million in 2017. Floriculturists are increasingly shifting from traditional flowers to cut flowers to serve overseas markets.
By Application, the global Floriculture Market is segmented into Perfume, Decorations, Pharmaceuticals, personal use, and others. In 2018, the decorations segment dominated the global market. As various products are widely used for gifting and decorations on special occasions such as wedding, anniversary, birthdays, festivals, and funerals. For instance, people celebrate Christmas with exchange of gift, specially flowers.

Geographical Share

By geography, the global Floriculture Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, Europe holds the largest market share in global Floriculture Market. Some of the key leading countries in the region are Netherlands, Germany, Italy, France, and the UK. The Netherlands is known for cut flowers and potted plants, as well as bulbs, for annuals and perennials. Germany has a name in nursery stock and garden plants. In Italy lots of flowers and potted plants are produced. While Denmark is famous of their potted plants. France is a broad player when it comes to the different types of products.
Moreover, developments in e-commerce are likely to have a positive impact on the floriculture market in Europe, with the opportunity to complete direct sales with the consumers, instead of using an intermediary.
In addition, 90% of the international floriculture trade is currently duty-free worldwide. Most commerce takes place under Free-trade agreements or preferential trading schemes with developing countries in Africa and South America. However, an increasing number of flower cultivators in developing countries and the shift of wholesalers to these countries act as challenges for the floriculture market in Europe.

Competitive Analysis

Global Floriculture Market is fragmented with the presence of global and regional players in the market. Creating consumer awareness by aggressive marketing strategies and greater visibility of products across retail space are other steps taken by market participants to generate demand. Intense rivalry among top players in the market has started the fierce competition at various levels such as driving aggressive marketing strategies and competitive pricing. In addition, Manufacturing companies can focus on improving the quality of floriculture products by improving the infrastructure for storage and transportation thus creating potential opportunities for new as well as existing players operating in the floriculture market.
Some major players in the market are Syngenta, Florance Flora, Dümmen Orange, Florensis Flower Seeds UK Ltd, and Danziger Group. Other key players in the market are Flamingo Horticulture Ltd, OSERIAN GROUP, Verbeek Export B.V., KARUTURI GLOBAL LIMITED, and Beekenkamp Group.

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E-prescribing Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:56 pm 25 July 2020

Market Overview

The Global E-prescribing Market is expected to grow at a CAGR of 24.5% during the forecasting period (2019-2026).
E-prescribing, short for electronic prescribing, is a computer-based electronic medical prescription that allows the healthcare provider to write and send prescriptions to the pharmacy electronically instead of using handwritten prescriptions. It gives the ability to communicate error-free and understandable prescriptions while tracking the prescriptions. It is also one of the major causes of the increasing adoption of electronic medical records.

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Market Dynamics

Rising Focus on Reducing Fraud and Controlled Substances Abuse to Fuel Market Growth
The global market for the E-prescribing Market is primarily driven by the need to decrease prescription errors, rising focus on reducing fraud, controlled substances/drug abuse, and the increasing adoption of e-prescriptions by healthcare providers. According to the FDA, since 2000, more than 95,000 prescription drug errors have occurred, mainly due to mistakes when reading a bad handwriting prescription and dispensing a similar-sounding, but completely different drugs. Moreover, several medical and surgical specialty organizations have made the use of these prescriptions mandatory. E-prescribing allows physicians to track controlled substance prescriptions across multiple pharmacies, reducing the likelihood of doctor shopping or over-prescribing. For instance, in New York, writing prescriptions for Schedule II, III, and IV controlled substances require e-prescribing as the prescriber is required to consult the state’s prescription monitoring program (PMP) registry. Government initiatives are also driving the market. For instance, the US government’s Electronic Prescribing Incentive Program gives a medical practice up to a 2% reimbursement of its Medicare Part B charges with the use of a qualified e-prescribing system.
However, the lack of the privacy and security of patient data, reluctance to adopt new technologies and the high cost of E-prescribing systems may hinder market progress.

Market Segmentation

Integrated Systems ability to link to an EMR is the prime factor for its increasing uptake and market dominance
By System Type, the Global E-prescribing Market is bifurcated into the Integrated System and Standalone System. Integrated systems are the fastest growing market share and are expected to be the dominant market by 2026 as they are more efficient and effective than Standalone Systems. Integrated Systems ability to link to an EMR is causing it the increasing be adopted, replacing the Standalone Systems. Standalone Systems, while cheaper and easier to install, do not hold historical data of the patient, require additional work and increase the risks of additional errors, thus slow down the entire process.
By Delivery Mode, the global e-prescribing market is segmented into Web/Cloud-based and On-premise. Web/cloud-based systems share the fastest growing share in this market. It can be attributed to the increasing number of benefits it offers, including easy maintenance, low start-up and licensing cost, and simple infrastructure requirements, as well as broader accessibility. Moreover, web/cloud-based systems provide enhanced productivity with faster and smoother implementation.
By Component, the Global E-prescribing Market is segmented into Software, Hardware, and Services. The software is a significant contributor to the market, and it is also projected to witness substantial growth. It is attributed to the growing number of software companies and the increasing demand for software-based solutions. Moreover, recent product launches are driving the software market share. For instance, in February 2018, DrFirst, a key competitor in e-prescribing and medication management solutions, launched iPrescribeSM, a mobile app used by physicians to prescribe medication and controlled substances while complying with the state prescription drug monitoring program (PDMP) requirements. However, services are the fastest-growing share of the E-prescribing market, owing to the number of applications, which includes complete information of formulary, preparation of full medication list, data security checks, and patient chronological data.

Geographical Analysis

Europe accounts for the largest share in the global E-prescribing market. This can be mainly attributed to factors such as the rise in adoption of the European Patient Smart Open Services (epSOS) along with the Schleswig-Holstein Health Initiative.
North America anticipated to be the fastest growing regional market share owing to the increasing adoption of electronic prescribing systems and initiatives encouraging the use of e-prescribing such as National Council for Prescription Drugs Program and Health Information Technology for Economic and Clinical Health (HITECH) Act. Moreover, the advanced regional healthcare infrastructure, rise in healthcare expenditure, the presence of established market players, and product launches by them are likely to boost the regional market growth. For instance, in December 2018, Imprivata, the healthcare IT security company, launched EPCS Ready, a comprehensive online resource center to prepare healthcare organizations to meet the Electronic Prescribing for Controlled Substances (EPCS) requirements outlined in H.R.6- SUPPORT for Patients and Communities Act, a comprehensive bill designed to address America’s opioid abuse epidemic, which takes effect on January 1, 2021.

Competitive Analysis

Several key companies have adopted merger and acquisitions policies, geographic expansion, innovative product launches, and collaborations to help them to stand out as strong competitors in the market and also expand its sales in the global E-prescribing market.
Major Players in the global E-prescribing market include Surescripts-Rxhub LLC, Allscripts Healthcare Solutions Inc., Cerner Corporation, Epic Systems Corporation, and Quality Systems Inc.
In June 2019, Humana Inc, and Epic, a most widely used comprehensive health record system, entered an agreement which will integrate their technologies in efforts to enhance patient and provider access to health information. Epic is the first to collaborate with the national healthcare insurer Humana to bring together patients, providers, and payers to power value-based care. The partnership is intended to advance access to health information and price transparency for patients, providers, and payers. Epic users will have access to Humana's Real-Time Benefits Check (RTBC) tool through Epic's e-prescribing workflow to help patients, and providers select the most cost-efficient medications during treatment decisions.
In May 2019, Cerner, a global health platform and innovation company, and DrFirst, collaborated on a new and innovative offering to help providers tackle the opioid epidemic. By streamlining the connection from a person's EHR to each state's prescription drug monitoring program (PDMP) database, giving physicians nationwide access to patient prescription drug information.
In October 2018, Stratice Healthcare formed a strategic relationship with Brightree. Stratice Healthcare is the creator of eOrdersPlus, an e-prescribing solution streamlining and digitalizing the antiquated ordering process for patients' reimbursable medical equipment, supplies & service needs. The integration of eOrdersPlus within Brightree's ePrescribe solution for home medical equipment will enable HME providers to both to receive and initiate fully electronic orders for completion and fulfillment with Brightree's ecosystem of order intake, patient care management, reimbursement claim filing and revenue cycle management systems.
In February 2018, DrFirst launched iPrescribeSM, a mobile app used by physicians to prescribe medication and controlled substances while complying with the state prescription drug monitoring program (PDMP) requirements and can also be used with most ambulatory and acute EHRs.

Market Taxonomy:

On the bases of system type, the global e-prescribing market is segmented into:
- Integrated System
- Standalone System
On the bases of delivery mode, the global e-prescribing market is segmented into:
- Web/Cloud-based
- On-premise
On the bases of component, the global e-prescribing market is segmented into:
- Software
- Hardware
- Services
On the bases of end-user, the global e-prescribing market is segmented into:
- Hospitals
- Office-based Physicians
- Pharmaceuticals
On the bases of region, the global e-prescribing market is segmented into:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa

Key Takeaways:

The global market for the E-prescribing Market is primarily driven by the need to decrease prescription errors, rising focus on reducing fraud & controlled substances abuse, and the increasing adoption of e-prescriptions by healthcare providers.
Web/cloud-based systems share the fastest growing segment in this market. It can be attributed to its multiple benefits, including low start-up and licensing cost, easy maintenance, and simple infrastructure requirements, as well as broader accessibility. The software is a significant contributor to the market, and it is also projected to witness substantial growth. It is attributed to the significant increase in software companies and the increasing demand for software-based solutions. Moreover, recent product launches are driving the software market share.
Europe accounts for the largest share in the global E-prescribing market. This can be mainly attributed to factors such as the rise in adoption of the European Patient Smart Open Services (epSOS) along with the Schleswig-Holstein Health Initiative.
To increase user base and improve their E-prescribing market presence, companies are increasingly launching innovative products, and are improving R&D investments.

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Environmental Testing Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:55 pm 25 July 2020

Market Overview

The Global Environmental Testing Market is expected to grow at a CAGR of 7.57% during the forecasting period (2019-2026).
Environmental testing focuses on identifying sediments or contaminants in the given sample, thereby detecting their impact on surroundings. The analytical capabilities of these testing equipment include trace and ultra-trace analysis of hydrocarbons, petrochemicals, metals, contaminants and other materials. These environmental testing services are provided to the industries through projects and consulting.

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Market Dynamics:

Growing investment by the government organizations in advanced testing equipment or services to maintain hygiene and environmental conditions are the factors driving the global environmental testing market. Stringent government regulation imposed over the pollution maintenance, wastewater limits led to increased investments by the various manufacturing industries in environmental testing services. These services allow them to identify current pollution and water quality of their discharge. The outcomes of these test are focused, and the operation are altered to maintain required limits. Growing establishments of wastewater treatment plants associated with growing demand for sophisticated equipment or services for measuring the water quality is expected to further boost the market for global environmental testing market. Increase in initiatives by the agricultural organization and government institutes for predicting the soil quality and purity, and further carrying out of experiments for the agricultural sustainability. Growing industrial and manufacturing activities across the globe associated with increased among the communities regarding foreign particle contamination is expected to additionally boost the global environmental testing market.
However, High capital investment and high sensitivity associated with testing equipment is the major hindering the growth of global environmental testing market.

Market Segmentation

Global environmental testing market is segmented on the basis of Sample into water testing, air testing, soil testing, pollution testing and others.
The various environmental water testing services currently available in the market includes drinking water, ground water, wastewater, surface water, offshore drinking water and others. Growing establishments of wastewater treatment plants by the government institutions to meet the demand from cities and industries for water against back drop of urbanization, population growth and climate variability is expected to boost the global water testing market during the forecast period. The increase establishments of wastewater plants and growing regulation by governments over the discharge of wastewater from chemical plants is expected to impose huge demand for water testing services across the globe. Extensive usage of water related products in Food and Beverage industry associated with growing investment by these companies in sophisticated testing services to improve their product quality is another factor contributing to the growth of water testing market globally.
Based on Industry, global environmental testing market is segmented into Manufacturing industry, Oil & Gas Industry, Waste Management, Wastewater treatment plants, and others. Wastewater treatments plants segment is expected to dominate the global environmental testing market owing to growing establishments of sewage treatment plants and increased investment by the government organizations in sophisticated equipment or service for detection of harmful contaminants.

Geographical Presentation

By region, the global Environmental Testing market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and America.
North America is expected to dominate the global environmental testing market owing to high presence of industrial environment and growing government regulation imposed over the environmental protection. Growing establishments of wastewater treatment plants associated with growing demand for sophisticated testing services for measuring sediments is expected to boost the North America environmental testing market. Growing precision agriculture practices for the sustainable agricultural production by the commercial farmers is expected to boost the market of soil testing across the North America.
Growing industrialization and increasing establishments of wastewater treatments plants in Saudi Arabia is expected to boost Middle-East and Africa Environmental testing market. According to the study published by Saudi Gazette Report, the volume treated in Kingdom of Saudi Arabia rose from 66% in 2011 to 77% in 2014 and expected to reach 80% providing immense opportunities for water testing services.

Competitive Analysis

The global environmental testing market is consolidated with major market players occupying significant amount of share. The key players in the global environmental testing market includes SGS Group, EMLab P&K, LLC, Eurofins Scientific, ALS Limited, and AB Sciex.
The key strategies adopted by the prominent players in the global environmental testing market includes strategic collaboration and acquisition by the global companies to improve their presence and market share in specific region.
For instance, in March 2019 McLarens global independent insurance services provider acquired American Environmental Group, LLC as part of environmental testing and consulting services expansion in the U.S.
In October 2018, Eurofins acquired Test America to expand its environmental testing offerings across the U.S.
In August 2018, ALS limited acquired Truesdail laboratories, LLC to expand its pharmaceutical, nutraceutical, environmental, food testing capabilities and geographical presence in the U.S.

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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

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Epigenetics Drugs & Diagnostic Technologies Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:55 pm 25 July 2020

Market Overview

The Global Epigenetics Drugs & Diagnostic Technologies Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
Epigenetics is a process of changing the gene expression; it's a phenotype change without a change in genotype. The essential parts that are engaged with epigenetic interpretation are DNA methylation, histone changes, and non-coding RNA’s. Epigenetics drugs and diagnostic technologies are used in the screening of early-stage cancer and other abnormal changes in liver cells, brain cells, skin cells, and others. With the rising awareness among people and rising incidences & prevalence of oncology and non-oncology disorders, the interest for epigenetic analysis and medications is growing at a high pace and boosting the global epigenetics drugs and diagnostics technologies market.

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Market Dynamics

Rising prevalence of cancer and other chronic diseases along with growing geriatric population are the major factors driving the global epigenetics drugs & diagnostic technologies market. According to WHO, in 2018, there are an estimation of 18.1 million new cancer cases and 9.6 million deaths, about 1 in 6 deaths are due to cancer. Thus, growing cancer incidences are boosting the market growth.
Also, funding’s by government organizations such as the National Cancer Institute (NCI), the International Human Epigenome Consortium (IHEC), and the National Institute of Health (NIH) to promote R&D activities is anticipated to propel the global epigenetics drugs & diagnostics market further. Further, increased attention of manufacturers towards the development of new epigenetics drugs is boosting the market growth.

Segmentation Analysis

Based on product, the global Epigenetics Drugs & Diagnostic Technologies market is broadly segmented as oncology and non-oncology segment. Oncology application segment accounted for major market share in 2018, owing to the growing prevalence of cancer. However, over the forecast period, non-oncology application segment is expected to grow at a high pace. It is due to R&D initiatives undertaken by private institutions and biopharmaceutical companies for identification of epigenetic markers related to non-oncology disorders. Non-oncology disorders include cardiovascular, infectious, and other disorders. Epigenetic modifications have been proved to be the base of metabolic, infectious diseases, neurodegenerative, and many other non-oncology disorders. Thus, growing non-oncology disorder segment is driving the global market.

Geographical Analysis

The global Epigenetics Drugs & Diagnostic Technologies market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region accounted for major market share in 2018, in the global epigenetics drugs & diagnostics technologies market. Presence of government funding programs for ongoing research activities, better healthcare facilities, and continuously increasing incidences of oncology and non-oncology diseases including metabolic, infectious, cardiovascular, and other diseases.
During the forecast period (2019-2026), the Asia Pacific region is projected to grow at a significant rate, owing to the rising disposable income, rising awareness about early diagnosis, and availability of effective treatment in emerging countries, such as India and China. Additionally, due to increasing cases of various types of cancers. Also, due to the presence of prominent players of the market, such as Eisai Pharmaceuticals and Oncolys Biopharma.

Competitive Analysis

Significant players of the global epigenetics drugs & diagnostic technologies market are Thermo Fisher Scientific., Merck & Company Inc., Novartis International AG, Astex Pharmaceuticals Inc., Celenge, CellCentric Ltd., Celeron Therapeutics Ltd., Chroma Therapeutics Ltd., Eisai Pharmaceuticals, Epigentek Group Inc., and others. The diversified product portfolio is the major factor that is responsible for strengthening the position of these companies in the market. Also, they have been adopting key strategies, such as new product developments, acquisitions, and expansions, to increase their share in the epigenetics drugs & diagnostics market. For instance, in
In January 2018, Thermo Fisher Scientific collaborated with Illumina, Inc. to sell Ion AmpliSeq technology to researchers who conduct scientific studies on Illumina’s next-generation sequencing (NGS) platforms.
In August 2017, BellBrook Labs announced the launch of AptaFluor SAH Methyltransferase Assay, to help researchers in their research for breakthrough drugs targeting epigenetic pathways that drive cancer and other debilitating diseases.
In May 2017, Merck developed alternative genome editing tool that makes CRISPR more efficient, flexible, and specific.
In October 2015, Celgene’s VIDAZA® was approved by the European Commission(EC).
In April 2015, Roche and Oryzon collaborated to develop and commercialize LSD1 inhibitors for oncology, and non-malignant conditions

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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

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Elevators and Escalators Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:54 pm 25 July 2020

Market Overview

The Global Elevators and Escalators Market is expected to grow at a high CAGR during the forecasting period (2019-2026). The market is expected to grow at a significant rate due to the rise in the middle-class population, growth in the number of high-rise buildings and the emerging ecosystem of next-generation elevators and escalators.
Escalators & elevators are widely used across several verticals such as industrial, residential, and commercial places. They are conventionally installed at venues such as railway stations, residential complexes, hospitals, metro stations, malls, office buildings, schools, and airports. Installation of escalators and elevators in high-rise and mid-rise buildings has become essential, thereby helping the market to gain momentum in the construction sector.

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Market Dynamics

The global Elevators and Escalators market growth is driven mainly due to rapid urbanization, small living spaces, and an expanding middle class in emerging economies. China is the world’s largest market for escalators and elevators, and domestic OEMs dominate the country. The markets in Southeast Asia have shown strong growth in the region. Moreover, the region is expected to witness a substantial rise in the construction sector, which can be attributed to increasing private and public infrastructural development projects.
According to the National Bureau of statistics China in 2018, the commercial building space sold in the region is increased from 157 million sq. Meters in 2016 to 169.407 million sq. Meters in 2017 and the residential buildings have risen from 137.58 million sq. Meters in 2016 to 144.788 million square meters in 2017, and these expected consistently during the forecast period.

Market Segmentation

By type, the market is segmented into escalator and elevators. In 2018, Elevator segment dominated the global market and was expected to continue to dominate the market over the forecast period. Elevator systems comprise geared & gearless elevators, hydraulic elevators, and Machine Room fewer elevators (MRLs). The market is experiencing a significant shift from traditional equipped hydraulic lifts to the more recent MRL elevators that are technologically more advanced, facilitate in saving space, and are energy efficient.
By End-User, the global Elevators and Escalators market is segmented into Residential and Non-Residential segments. The non-residential segment includes government, commercial, and industrial spaces. Prominent vendors are emphasizing on manufacturing energy-efficient escalators and elevators. As elevators and escalators use a high amount of energy and power, therefore, restraining the market growth, especially in the residential segment. However, significant increase in the real estate industry is anticipated to be a significant driver in the escalator & elevator market.

Regional Analysis

By geography, the Elevators and Escalators market is segmented into the Asia Pacific (APAC), North America, South America, Europe, and the Middle East and Africa.
APAC dominated the global Elevators and Escalators market in 2018 and will continue to dominate the market over the forecast period (2019-2026) owing to the rapid urbanization and sizeable growth and investment in the construction sector. Market participants and players are focusing on entering new markets and aim to increase in presence in the region.
For instance, In India, Increasing urbanization, growing demand for high rise buildings and government’s thrust on infrastructure in tier II & III cities has put the elevator market in the country on a high growth trajectory.
In developed countries like the US, the UK, Japan, and Germany, there is a shift from conventional products to smart and energy-efficient products. The need for intelligent elevators has grown considerably due to increasing demands to reduce travel time between floors and awareness of the need for energy-efficient residential elevators. The use of IoT enables the monitoring in real-time, helping to improve the control of buildings and equipment. This reduces downtime and also reduces operational costs. As energy efficiency in buildings is increasingly being concentrated, there is a huge risk that IoT-enabled lifts may be used to support predictive maintenance. This trend is expected to boost the global elevators and escalators market to a large extent.

Competitive Landscape

Global Elevators and Escalators Market is moderately concentrated with the presence of global and regional players in the market. There is intense competition in the market among the top players. The escalator & elevator market players have become more conscious about improving and enhancing their products. Safety is considered as a topmost priority as there have been several mishaps due to malfunctioning of elevators.
Major players in the market include KONE Corporation, Otis Elevator Company, Schindler Holding Limited, Hitachi, and Mitsubishi. Other key players in the market are Canny Elevators, Fujitec Co. Ltd, Hyundai, Johnson Lifts, Kleenmann Group, Sigma, ThyssenKrupp Elevator AG, and Toshiba, among others.

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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

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Enterprise Asset Management Market, Size, Share, Outlook and Growth Opportunities 2019-2026

8:54 pm 25 July 2020

Market Overview

The global enterprise asset management (EAM) market is expected to grow at a CAGR of over 10% during the forecast period (2019-2026).
Factors such as increased accuracy in data analysis and increasing demand for cloud-based EAM solutions are expected to drive the global market over the forecast period.
Enterprise asset management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information. EAM is mostly used in industries that heavily rely on expensive and complex physical assets, such as vehicles, plants and heavy equipment. Prominent users include the energy and utilities, government and defense, manufacturing, among others.
The report covers all the major trends and drivers playing a vital role in the growth of the enterprise asset management market. The global enterprise asset management market has been segmented based on region, deployment, solution, and vertical.

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Market Dynamics

The global enterprise asset management market growth is primarily driven by the rising need to gain a 360-degree view of assets and increasing adoption of EAM solutions in North America and APAC regions. Enterprise asset management can both minimize risks and costs and optimize business value by helping to ensure that high-value assets operate the way they are designed to. For instance, EAM software might alert operations managers about a failure of a machine part, and provide the information and scheduling tools needed to dispatch a repair person. Timely maintenance can also avoid the risk of improperly operating equipment injuring workers or reducing machine downtime.
Therefore, the need for effective utilization of assets, controlling maintenance and procurement expenses, and to improve the return on assets is further expected to boost growth in the global enterprise asset management market over the forecast period.
In addition, EAM is rapidly integrating with Internet of Things (IoT). The integration of IoT with EAM provides the identification of performance and control modifications. IoT applications allow better asset utilization tracking and better data management, as well as streamline data in a manner in which asset lifecycle and maintenance can be analyzed.
However, concerns of organizations related to data security and confidentiality coupled with integration of EAM with third-party ERP systems might hinder the market growth over the forecast period.

Market Segment Analysis

By deployment, the global enterprise asset management market is segmented into Cloud (public, private, and hybrid) and On-Premise. In 2018, On-premise deployment segment accounted for the largest market share in the global market. However, cloud deployment segment is expected to witness higher CAGR over the forecast period. Cloud technology enables developers to adopt agile workflows, significantly reducing lead times in testing and deploying new products and releasing product updates.
For instance, in April 2019, Infor - announced that First Bus, part of FirstGroup plc, the leading transport operator in the UK and North America, has selected Infor EAM (CloudSuite Enterprise Asset Management) for its UK bus operations. As part of an 18-month deployment, Infor EAM will be rolled out in three phases, fully serviced and hosted by Infor partner Sapphire Systems for 2,000-plus users.
By vertical, the global enterprise asset management market is segmented into Energy and Utilities, Healthcare & Life sciences, IT and Telecom, Government and defense, and others. Healthcare & life sciences segment is expected to exhibit higher CAGR over the forecast period. Rapid adoption of enterprise applications in this sector can be attributed to increasing demand for real-time data transparency, which provides patient-centric healthcare solutions and systems with changing business models. Software vendors such as Infor, Oracle, and SAP provide solutions that improve overall performance, cost efficiency, patient safety, and quality of care.

Regional Analysis

By geography, the global enterprise asset management market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America accounted for the largest market share. However, APAC is expected to witness a higher CAGR than other regions during the forecast period. North America is a matured market in terms of cloud adoption, due to various factors, such as standards, regulations, advanced IT infrastructure, the presence of a large number of enterprises, and the availability of proficient technical expertise. Therefore, North America is expected to grow at a steady and maintain its dominant position in global market over the period.
APAC enterprise asset management market is expected to grow exponentially over the forecast period due to an increased demand for cloud computing among small and medium-sized enterprises (SMEs). In addition, changing business models with a more customer-centric approach and organizations concentrating on decreasing operational costs will further boost growth in the market.

Competitive Analysis

Global enterprise asset management market is moderately fragmented with the presence of global and regional players in the market with key players accounting for majority share in the market. Key prominent players in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability.

Some key players in the market are Oracle, IBM Corporation, SAP, Aptean, AVEVA-Schneider Electric, eMaint (Fluke Corporation), IFS, ABB, Infor, Ramco Systems, and among others. These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global enterprise asset management market further.
In April 2019, IBM collaborated with Sund & Bælt to design and develop an AI-powered IoT solution and extends the IBM Maximo portfolio.

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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

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