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Auto infotainment or in-vehicle infotainment is a combination of software and hardware in automobiles that provide audio or video entertainment to occupants. Originally, the in-car infotainment system was only comprised of car audio system with radio, cassettes, or CD players.
Growing integration of technology and systems into cars for enhancing safety is expected to drive growth of the global auto infotainment market during the forecast period
Increasing concerns regarding safety and high density traffic have led cars to adopt various smart technologies including automatic parking assistance, GPS technology, anti-collision sensors, etc. Moreover, this integration of technology is increasing, in order to offer ease in driving for vehicle owners. Many automobile manufacturing companies are focused on research activities, in order to develop novel infotainment solutions for cars. For instance, in 2015, Maruti Suzuki announced a plan to include infotainment systems in all available new features for the driver’s convenience and vehicle safety in their new range of products and also announced a plan to upgrade the infotainment systems in their existing brands. Therefore these factors are expected to drive the market growth over the forecast period.
Growing preference for in-car entertainment and driving comfort are expected to propel the global auto infotainment market growth over the forecast period
Consumers are increasingly preferring to in-car infotainment and ease in driving while traveling regardless of the distance. In order to achieve such comfort, consumers are adopting various interior car accessories such as music accessories, radio systems, LCD screens, Bluetooth connectivity, and more. These car accessories help to improve overall driving experience for vehicle owners, which in turn, is driving the market growth. According to a white paper published by Impetus Automotive, electronic car accessories such as LCDs, music accessories, etc. accounted for 21.5% market share of the global car accessories market in 2014.
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Significant slump in car sales is expected to restrain growth of the global auto infotainment market during the forecast period
Economic meltdown, rise in fuel prices, increase in rental cab services, and traffic congestion is expected to have negatively impacted the sales of different types of vehicles. This fall has been observed worldwide, which is affecting demand for infotainment system. According to Coherent Market Insights’ analysis, the U.S. auto sales fell in August 2016 with companies such as GM CO. indicated that their sales figures fell by 5.2%. Furthermore, Ford Motor Co. witnessed a decline of 8.2% as compared to 2015. According to the same source, in May 2016, premium segment cars such as Honda and Skoda witness drop in sales figures by 26% and 32% in India. Therefore, such factors are expected to restrain growth of the market in the near future.
Threat of hacking via infotainment systems is expected to hinder the global auto infotainment system market over the forecast period
Infotainment systems installed in vehicles are developed and connected by software and wireless communication. Such systems are prone to hacking and theft of information, since they heavily rely on internet for connectivity. Access to the internet makes these systems gullible to breach of hacking threat for vehicles as well as auxiliary devices such as laptops and mobile phones connected with vehicle. Such factors are expected to hamper the market growth over the forecast period. For instance, in 2015, after the hacking of a Jeep Cherokee via its infotainment system through internet connectivity, Fiat Chrysler voluntarily recalled 1.4 million cars to rectify the entertainment system fitted in those cars. Moreover, in April 2016, researchers at the German car club ADAC found that 24 models of cars in Europe were easy to hack and unlock using an amplification device.
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Enterprise asset management (EAM) refers to the management of physical assets of an enterprise throughout each asset’s lifecycle, in order to augment their use, enhance quality and efficiency, save money, and protect health and the environment.
Growing investment by organizations in EAM software is expected to drive the global enterprise asset management market during the forecast period
Increasing investment by organizations on enterprise asset management software is expected to drive growth of the global enterprise asset management market during the forecast period. Various governmental and corporate organizations around the world are employing EAM software, in order to optimize the company’s work efficiency and save money. For instance, in August 2019, Infor, Inc., a U.S.-based enterprise software company, received the contract for EAM solution from Auckland Transport (AT) to manage its asset in future. AT manages a public transport system that includes assets of US$ 1.02 billion with 43 railway stations, 21 ferry wharves, and 2,337 bus stations.
Growing emergence of IoT such as smartphones is expected to propel the global enterprise asset management market
Furthermore, rising emergence of Internet of Things (IoT) such as smartphones, medical electronics, automobiles, thermostats, and more, which allows devices to communicate and send and receive data is expected to propel the global enterprise asset management market growth over the forecast period.
North America region dominated the global enterprise asset management market in 2018, accounting for 31.2% share in terms of value, followed by Europe and Latin America, respectively.
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High cost associated with installation of EAM software is expected to restrain the market growth
High cost of enterprise asset management software, especially for small and medium-sized companies is expected restrain growth of the global enterprise asset management market in the near future. Various companies such as IBM and SAP SE offers EAM solutions, though they are not always affordable for small- or medium-sized companies. Moreover, its implementation is time intensive, which would cost the company.
Lack of trained personal is to deploy EAM software is expected to hinder the market growth
Moreover, lack of skilled professionals to deploy EAM software is expected to hamper the market growth in the near future. Although there is no specific career path for EAM solutions for an individual, companies often understaff this particular domain. Moreover, this process is spanned through multiple departments and lack of coordination among those department can make it challenging to reach towards the same goal.
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A water heater or storage water heater is a domestic water heating appliance that uses hot water storage tank to optimize heating capacity provide prompt hot water whenever needed. Conventional storage water heaters use a variety of fuels namely electricity, oil, propane, natural gas, and oil.
High growth construction and manufacturing industry is expected to drive growth of the global water heater market during the forecast period
Water heater has been extensively used in manufacturing as well as construction industries, owing to efficient distribution supply, ample raw material supply, and other factors. Both aforementioned industries have witnessed significant growth in the recent past, especially in developed countries. Moreover, increasing development of construction industry in emerging economies such as India and China is expected to boost the demand for water heaters during the forecast period. Furthermore, longer product life, easy reimbursement and replacement, and efficient aftermarket service are expected to drive the global water heater market growth during the forecast period.
Growing urbanization across the world is expected to propel the global water heater market growth over the forecast period
Increasing urbanization worldwide has led to consumer buying household appliances. For instance, water heater appliances have gained significant traction in market in terms of revenue contribution and product demand. According to Coherent Market Insights’ analysis, in 2018, around 54% of the world’s total population inhabited urban areas. According to the same source, majority of population from North America, Latin America, Europe, and the Caribbean region resided in urban population. Furthermore, African urban population is expected to reach around 1.2 billion between 2010 and 2050. Governments of African countries are launching programs to promote the use of solar water heaters, in order to reduce the consumption of electricity. This, in turn, is expected to boost the market growth over the forecast period.
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Constant struggle to meet quality and energy efficiency standards is expected to restrain growth of the global water heater market during the forecast period
Water heater manufacturers need to ensure that their product complies with quality and energy efficiency standards. According to Coherent Market Insights’ analysis, Energy consumed for water heating is second highest in households, accounting for around 20% of energy consumed globally under HVAC in the residential sector. Furthermore, inadequate energy efficiency, durability, and thermal insulation are other factors hindering the market growth in the near future. According to the National Appliance Energy Conservation Act (NAECA) 2015, 30-gallon capacity electric water heater needs to be pass 0.95 energy factor (EF) rating in the U.S.
Availability of specific fuel, low awareness among populace, installation challenges, and cost limitations are expected to hinder the global water heater market growth over the forecast period
Lack of awareness among populace, especially in rural areas is expected to hamper the market growth over the forecast period. Moreover, roof space availability, high cost related to solar water heaters installation, and cost-constraints are expected to hinder the market growth in the near future. According to NACEA regulations in the U.S., storage-type water heaters must comply with energy efficiency standards coupled with size specifications. Furthermore, storage-type water heaters need large space for installation, typically in closets or multi-family housing in North America and Europe. This, in turn, is expected to hinder the adoption and thereby restrict the market growth over the forecast period.
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Enterprise asset management (EAM) refers to the management of physical assets of an enterprise throughout each asset’s lifecycle, in order to augment their use, enhance quality and efficiency, save money, and protect health and the environment. EAM majorly finds applications in various industries that are dependent on complex and expensive assets including plants, vehicles, heavy equipment, etc. Major industries employing EAM are energy, government, oil and gas, mining, utility, shipbuilding, defense, and aerospace.
Growing investment by organizations in EAM software is expected to drive the global enterprise asset management market during the forecast period
Increasing investment by organizations on enterprise asset management software is expected to drive growth of the global enterprise asset management market during the forecast period. Various governmental and corporate organizations around the world are employing EAM software, in order to optimize the company’s work efficiency and save money. For instance, in August 2019, Infor, Inc., a U.S.-based enterprise software company, received the contract for EAM solution from Auckland Transport (AT) to manage its asset in future. AT manages a public transport system that includes assets of US$ 1.02 billion with 43 railway stations, 21 ferry wharves, and 2,337 bus stations.
Growing emergence of IoT such as smartphones is expected to propel the global enterprise asset management market
Furthermore, rising emergence of Internet of Things (IoT) such as smartphones, medical electronics, automobiles, thermostats, and more, which allows devices to communicate and send and receive data is expected to propel the global enterprise asset management market growth over the forecast period.
North America region dominated the global enterprise asset management market in 2018, accounting for 31.2% share in terms of value, followed by Europe and Latin America, respectively
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High cost associated with installation of EAM software is expected to restrain the market growth
High cost of enterprise asset management software, especially for small and medium-sized companies is expected restrain growth of the global enterprise asset management market in the near future. Various companies such as IBM and SAP SE offers EAM solutions, though they are not always affordable for small- or medium-sized companies. Moreover, its implementation is time intensive, which would cost the company.
Lack of trained personal is to deploy EAM software is expected to hinder the market growth
Moreover, lack of skilled professionals to deploy EAM software is expected to hamper the market growth in the near future. Although there is no specific career path for EAM solutions for an individual, companies often understaff this particular domain. Moreover, this process is spanned through multiple departments and lack of coordination among those department can make it challenging to reach towards the same goal.
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In the document management system, computer system and software are used to store, manage, and track electronic documents and electronic images of paper-based information. In addition, through document management solution, enterprises can control production, storage, management, and distribution of electronic documents.
Factors Driving Growth of the Global Document Management System Market:
Increasing number of paperless work at organizations and the need to increase working efficiency are boosting the adoption of document management system across all end-use industries. Moreover, document management system requires less space for storage of documents, which further boosts the adoption of document management system.
Moreover, the need for systematic document management is increasing across all industries, thereby increasing demand for document management system. Document management system streamlines the document storage process, through which organizations can manage their documents safely and it can streamline the process of document sharing from one point to another.
However, implementation cost of the document management system and data security concerns are major factors that restrain growth of the document management system market.
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Regional Analysis of Document Management System Market:
On the basis of region, the global document management system market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.
In 2018, North America held dominant position in the global document management system market and is expected to maintain its dominance over the forecast period, owing to the presence of large players such as Microsoft Corporation and Google Inc in the region.
The U.S. is one of the major countries that largely used document management software in the world in the past few years and it is expected to grow over the forecast period. According to Coherent Market Insights’ analysis, the U.S. accounted for around 39.5% share in the document management system market globally in 2018, which is expected to create lucrative opportunities for document management system providers, owing to increasing adoption of document management system in various end-use industries such as healthcare and BFSI.
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Product information management can be defined as a process of managing the information required to promote and sell products in the market through distribution channels. To manage process manufacturing, retail and other industries use product information management software which helps them to collect, manage and improve the company’s product information.
Retailers Are Adopting Product Information Management Software to Shorten New Product Information Cycle
Product information management is majorly used to market the product so that it can reach maximum number of customers. Retailers are majorly seen implementing this software to shorten the time required to promote new products launched in the market through various sales channels such as distributers, e-commerce portals, social media and others by providing accurate product information along with images and other digital media to customers. All this helps in reducing the time required to market the product, owing to which demand for product information management software is expected to grow during the forecasted period (2019-2027). For instance, in October 2019, Verishop, an e-commerce company, announced that they had started implementing product information management software (PIM) solutions to help start-ups scale up the speed of launching their product in the market.
Furthermore, growing expectations among consumers regarding data quality is one of the major factors positively affecting growth of the global product information management software market. As consumers today are more engaged in researching the product before buying, it is mandatory for sellers to provide high-quality, complete product information to customer in various formats and through various sales channels. This helps customers gain complete product information, and in case it in unavailable, they can switch to another site or catalog which may affect the sellers' revenue.
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Factors Restraining Growth of the Global Product Information Management Software Market
The cost of ownership is high for deployment of product information management software, as it includes annual licensing fees, customization, deployment, and maintenance of the system which is a major factor that is expected to restrain growth of the market.
Furthermore, product information management software also creates product catalog, and distribute it to the company’s sales and e-commerce channels via websites, enterprise resource planning (ERP) systems, product lifecycle management (PLM) systems and electronic data feed. Moreover, this software is majorly used to streamline the distribution process for suppliers, and improve quality and consistency of product data, and to deliver a better product experience to the customer.
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The aircraft galley is the on-board compact kitchen on air-borne vessel. As galley equipment occupy minimum space and provide optimized facilities of kitchens by utilizing minimum space they are predominantly used on aircrafts. Aircraft galley equipment include various electric and non-electric inserts.
Electric insert includes water boilers, coffee makers, beverage makers, chillers, air chillers, dishwasher, food warmers, and refrigeration system. Non- electric insert includes rack, serving pots, tray, trolley, dishes, utensils used for cooking, and trash compactor. Aircraft galley is used for cooking food and storing material related to kitchen. To provide better services to customers, aircraft service providers or manufacturers deploy galleys on aircrafts. These type of galley equipment are available on various type of aircrafts such as narrow-body, wide-body, and very large body.
Factors driving global aircraft galley equipment market
Increasing activities in manufacturing of aircrafts is one of the factors driving growth of the global aircraft galley equipment market. Increasing sale of aircrafts including Boeing, Airbus, Bombardie, etc. and rising fleet number of various airlines such as American Airlines Delta Air Lines, Southwest Airlines, United Air Lines, FedEx, SkyWest Airlines, JetBlue Airways, and UPS is fueling growth of the global aircraft galley equipment market. For instance, according to AeroWeb, a Forecast International Inc., in 2017, the U.S. commercial aircraft inventory included 7,309 aircrafts, up from 7,130 aircrafts in 2016. In 2016, there were 3,080 Boeing aircrafts available in the U.S and in 2017, the total number of Boeing aircrafts in the U.S. were 3,173. Furthermore, number of Airbus aircrafts increased from 1,327 in 2016 to 1,446 in 2017.
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Furthermore, increasing demand for aircrafts and customized galleys according to preference of customers is driving growth of the global aircraft galley equipment market. Top players in the global aircraft galley market design and manufacture aircrafts galley equipment to meet requirements of customers, which is expected to drive the market growth.
Global aircraft galley equipment market: Regional Insight
The Asia Pacific aircraft galley equipment market is projected to account for high growth during forecast period, owing to growing aviation industry in the recent past. Moreover, increasing demand for new aircraft deliveries is expected to propel growth of Asia Pacific aircraft galley equipment market. For instance, according to forecast of International Air Transport Association (IATA), from 2015 to 2035 more than half of the new passenger traffic of air transport will coming from the Asia Pacific region. China will replace the U.S. as the world’s largest aviation market (defined by traffic to, from and within the country) around 2024. India will displace the U.K. for third place in 2025, while Indonesia and Japan will be ranked 5th and 7th respectively.
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Adsorption equipment is utilized to bind atoms, ions, particles, or molecules from a liquid, gas, or broke down strong on to a surface. The adsorption equipment is useful in industrial operations for controlling odor, recuperation of unstable solvents such as ethanol, benzene, trichloroethylene, and drying of procedure gas streams.
Regulations Regarding Volatile Organic Compounds (VOCs) Emissions are Impelling the Need for Adsorbent Equipment and Growing Automotive Industry Worldwide are the Factors Driving Growth for the Global Adsorption Equipment Market
Volatile organic compounds (VOCs) are organic chemicals that have a high vapor pressure at ordinary room temperature. Their high vapor pressure results from a low boiling point, which causes large numbers of molecules to evaporate from the liquid or solid form of the compound and enter the surrounding air. Moreover, various government bodies around the globe have ordered stringent guidelines on the outflow of volatile organic compounds (VOCs) from different end-use businesses such as car chemical, paint shop, nourishment and refreshments, pharmaceutical, printing, and semiconductors. This is expected to drive the interest for adsorption gear, which helps keep volatile organic compounds (VOCs) in line. Hence, key vendors are focusing on launching various products related to VOC sensors and monitors. For instance, in October 2017, Alphasense, one of the gas sensor developer and manufacturer based in the UK, has launched a new sensor for the measurement of volatile organic compounds (VOCs). The new p-type Metal Oxide sensor is a broadband total volatile organic compounds (VOCs) detector with a range from 0 to 100 ppm (isobutylene) as well as 10-50 ppb detection limit, depending on the volatile organic compounds (VOCs). However, the accessibility of more affordable options such as fixed-bed adsorbers and fluidized-bed adsorbers, with low establishment and maintenance costs is foreseen to control the worldwide adsorption equipment market among the estimate time frame.
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Global Adsorption Equipment Market: Regional Insights
Asia Pacific region is estimated to be the largest adsorption equipment market, as this region comprises some of the fastest developing economies of the world as well as key consumers of adsorption equipment such as India, China, Thailand, Indonesia, and Japan. The business in the Asia Pacific region is primarily driven by stringent government rules for controlling volatile organic compounds (VOC) emissions, which will create lucrative growth opportunities for the adsorption equipment manufacturers. For instance, in February 2015, the Shanghai Environment Protection Bureau created the Emission Standards for Paint, Ink as well as Allied Products Manufacturers to control emissions from factories. This standard will be applied both for existing factories and new factories present in this region.
Furthermore, the North America and Europe are expected to contribute significant growth towards the global adsorption equipment market progression during forecast period. Introduction of new advanced technologies in adsorption equipment in countries such as the U.S., Canada, UK, and Germany will drive growth of global adsorption equipment market in these regions. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), one of the French organization of motor and vehicle manufacturers, vehicle production across the globe has increased by 2.4% as compared to 2016. This in turns, creates the high growth opportunities for the adsorption equipment market globally.
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Coating resins (polymer compounds) have primary application in manufacture of paints and coatings. These materials serve the purpose of providing a protective layer for a wide range of objects, and help them resist environmental conditions such as corrosion, staining, weather, and hardness.
Coating resins are viscous, industrially produced substances that undergo a process called 'curing' which converts synthetic resin into rigid polymers.
Owing to its ability to harden permanently, coating resin finds application in several end use industries such as automotive, furniture, and marine among others. Resins that are used for manufacturing automotive coating are called automotive coating resin.
Market Dynamics
Automotive coatings are applied to vehicles to protect them from extreme weather conditions, and pollution. Automotive coatings are primarily used as additives in the automotive sector, alongside other additives such as silver, enamel, and stearates. Synthetic resin provides a shiny, glossy look when applied to the vehicle. Automobile manufacturers use coating resins for passenger vehicles and light duty vehicles, as well as for heavy duty vehicles.
Automotive coating resin can either be oil based or water based. Oil based coating resins have been widely used in the past decade, however research has found that volatile organic chemicals present in the oil based coating resin results in higher emission of hazardous gases. Regulatory measures were set up by regulatory bodies in North America and the European Union to reduce the usage of oil based resins which contain harmful organic compounds that were found to pose a risk to the ozone layer. These factors have restrained growth of the automotive Coating Resin market considerably. However, research and development activities by key players to develop an environmentally friendly alternative for oil based coating are expected to benefit the market in the near future. In comparison with oil based resins, water based resins have considerably low concentration of harmful organic compounds.
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Market Outlook
Owing to the rapidly expanding economy, in addition to industrialization and increasing disposable income in countries such as China and India, the Asia Pacific region is expected to be the fastest growing market for automotive coating resin. Another reason for Asia Pacific contributing the highest market share is that it has presence of key international car manufacturers, as well as local companies engaged in manufacturing of coating resin. Europe is expected to closely follow Asia Pacific in terms of demand for automotive coating resins, owing to a rapid recovery by the European automobile industry from the recession that had affected the industry in 2009. Demand for coating resins that are environmentally friendly are expected to witness a high demand in the North America market, owing to strict regulations implemented by regional regulatory agencies.
Key Players
Some of the prominent players in the global automotive coating resin market are Allnex Belgium SA/NV, The Dow Chemical Company, Azko Nobel N.V., BASF SE, and Nuplex Industries Ltd.
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Spintronics Market Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
Spintronics is spin-based electrons an emerging technology used in solid state device in order to study the electrons intrinsic spin. In contrast to electronics, spin technology uses the spin of the electron instead of its charges to utilize the magnetic moment associated with it..
Factors Driving Growth of the Spintronics Market
The major factor driving growth of the Spintronics market is growing adoption of IoT-based devices. For instance, according to the statistics published by Global System Mobile Association (GSMA), the number of industrial IoT connections is expected to increase from 3 billion to 14 billion from 2017 to 2025. This is attributed to rising adoption of solution for smart buildings (for heating, air conditioning, building security, lighting, office equipment, and automation), manufacturing (inventory tracking, monitoring and diagnostics, and warehouse management) and utilities (energy, water & gas smart metering, and smart grid solutions). Increasing demand for technologies such as Advanced Driver Assistance System (ADAS), self-driving technology, fleet management, smart homes, and connected vehicles among others is propelling demand for sensors which is integral part of these technology.
For instance, according to the statistics published by Robert Bosch GmbH in August 2017, one of the leading automotive suppliers, the sales of video sensors witnessed an increase by 80% and radar system by 60% in 2017 as compared to the sales in 2016. Thus, increasing adoption of sensors in these technology is further driving the Spintronics market growth, as it one of the major application of Spintronics.
Furthermore, several benefits of Spintronics over conventional electronics is fueling growth of the Spintronics market. For instance, electronics require specialized semiconductor materials in order to control the flow of charge through transistors.
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Regional Insight for Spintronics market
On the basis of geography, the global Spintronics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific holds the largest share in the global Spintronics market, followed by North America, owing to increasing adoption of IoT connections and technologies such as fleet management, smart homes, Advanced Driver Assistance System (ADAS), self-driving technology, and connected vehicles among others. China is expected to lead the Spintronics market in Asia Pacific region, owing to the support offered by government initiatives. For instance, 13th Five-Year Plan, Internet, and Made in China 2025 which are majorly related to technology advancement such as IoT connection, ADAS, connecting vehicles and others.
Thus, this trend has directly perceived in the ongoing R&D initiatives in China. In 2013, China started experimenting on Spintronics and has experienced a steady growth. Furthermore, the country had around 4,085 citations and patents in 2016. DRAM and SRAM are the current storage solution in China. Moreover, Magnetic RAM (MRAM) is expected to hold major market share among memory storage devices in near future. Furthermore, vehicle sales in China reached over 29 million in 2017, growth rate of 3.2% as compared to 2016. Furthermore, China register the highest sales of electric vehicles and had 2.2 % share of electric vehicle in 2017, followed North America, which witnessed 1.2% share of electric vehicle in the same year. Thus, significant growth in sales of vehicles in China is driving growth of sensors and storage device as it is the integral part of vehicles. Hence, with the growing application of Spintronics in vehicles is fueling the Spintronics market growth.
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Spintronics is spin-based electrons an emerging technology used in solid state device in order to study the electrons intrinsic spin. In contrast to electronics, spin technology uses the spin of the electron instead of its charges to utilize the magnetic moment associated with it..
Factors Driving Growth of the Spintronics Market
The major factor driving growth of the Spintronics market is growing adoption of IoT-based devices. For instance, according to the statistics published by Global System Mobile Association (GSMA), the number of industrial IoT connections is expected to increase from 3 billion to 14 billion from 2017 to 2025. This is attributed to rising adoption of solution for smart buildings (for heating, air conditioning, building security, lighting, office equipment, and automation), manufacturing (inventory tracking, monitoring and diagnostics, and warehouse management) and utilities (energy, water & gas smart metering, and smart grid solutions). Increasing demand for technologies such as Advanced Driver Assistance System (ADAS), self-driving technology, fleet management, smart homes, and connected vehicles among others is propelling demand for sensors which is integral part of these technology.
For instance, according to the statistics published by Robert Bosch GmbH in August 2017, one of the leading automotive suppliers, the sales of video sensors witnessed an increase by 80% and radar system by 60% in 2017 as compared to the sales in 2016. Thus, increasing adoption of sensors in these technology is further driving the Spintronics market growth, as it one of the major application of Spintronics.
Furthermore, several benefits of Spintronics over conventional electronics is fueling growth of the Spintronics market. For instance, electronics require specialized semiconductor materials in order to control the flow of charge through transistors.
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Regional Insight for Spintronics market
On the basis of geography, the global Spintronics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific holds the largest share in the global Spintronics market, followed by North America, owing to increasing adoption of IoT connections and technologies such as fleet management, smart homes, Advanced Driver Assistance System (ADAS), self-driving technology, and connected vehicles among others. China is expected to lead the Spintronics market in Asia Pacific region, owing to the support offered by government initiatives. For instance, 13th Five-Year Plan, Internet, and Made in China 2025 which are majorly related to technology advancement such as IoT connection, ADAS, connecting vehicles and others.
Thus, this trend has directly perceived in the ongoing R&D initiatives in China. In 2013, China started experimenting on Spintronics and has experienced a steady growth. Furthermore, the country had around 4,085 citations and patents in 2016. DRAM and SRAM are the current storage solution in China. Moreover, Magnetic RAM (MRAM) is expected to hold major market share among memory storage devices in near future. Furthermore, vehicle sales in China reached over 29 million in 2017, growth rate of 3.2% as compared to 2016. Furthermore, China register the highest sales of electric vehicles and had 2.2 % share of electric vehicle in 2017, followed North America, which witnessed 1.2% share of electric vehicle in the same year. Thus, significant growth in sales of vehicles in China is driving growth of sensors and storage device as it is the integral part of vehicles. Hence, with the growing application of Spintronics in vehicles is fueling the Spintronics market growth.
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A fire truck is a vehicle designed to carry firefighters to the site of accident with a limited supply of water that will be utilized to extinguish fire, some tools, equipment, and hoses that will be required by the firefighters.
Factors Driving Growth of the Global Fire Truck Market
Fire trucks are more often employed in firefighting operations in urban and suburban regions. There has been a significant increase in commercial and residential infrastructure, especially in the urban and suburban areas, pertaining to increasing population shift in the urban regions. For instance, according to a report, ‘World’s Cities’ by the United Nations in 2016, an estimated 54.5% of the world’s population resided in cities and is expected to reach 60% by 2030. In order to accommodate such huge masses, the urban infrastructure sector is adopting multi-storey building solutions for residential as well as commercial purposes. To ensure safety for people residing in multi-storey buildings, more efficient and organized systems such as Fire Alarm System, Fire Sprinkler System, and Carbon Monoxide Detection need to be adopted. To deal with fire incidents in cities, fire trucks are a prime necessity. Modern firefighting trunks carry equipment for wide range of firefighting and rescue operations, which include ladder, self-contained breathing apparatus, flood lights, fire hose, fire extinguishers, thermal imaging cameras, ventilating equipment, first aid kit, and hydraulic tools. All these equipment provide efficient assistance to fight in fire situations and rescue lives trapped inside the affected building. For instance, according to National Fire Association, in 2016, there were 475,500 structure fires reported in the U.S., in which 2,950 civilian died. Hence, rise in urbanization will require increased number of firefighting units in order to deal with fire situations in densely populated cities. This in turn will create growth opportunities for fire truck manufacturers.
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Fire Truck Market: Regional Insight
The market segmentation for fire trucks is based on regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
North America was the largest market for fire trucks in 2017. Increasing fire incidence in North America is one of the major driving factors leading to high demand for fire trucks. For instance, according to National Fire Association, in 2016, there were 1,342,000 fires reported in the U.S. in which 3,390 civilian died, 14,650 civilian were injured, and US$ 10.6 billion valued property was damaged. Moreover, high percentage of population living in urban areas have also accelerated the market growth in North America. For instance, according to Population Reference Bureau, in 2017, 81 % of North America total population lived in urban areas. With rising urbanization there will be high demand for fire stations to ensure that in times of fire incidents, help is delivered on time. Hence, with such high urban population, demand for fire trucks will also simultaneously increase.
Asia Pacific is expected to exhibit the highest CAGR in the fire truck market during the forecast period. India, China, and Japan are some of the major countries, which will drive growth of the market in this region. Increasing urban population in Asia Pacific plays a major role for growth of the market in this region.
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Penetration testing is also known as pen testing. It is a simulated process used to test a computer system, application or a network to check for security weaknesses, which could be easily capitalized on by hacker.
Increasing incidence of cyber-attacks and need to secure vulnerable data are key drivers for penetration testing market growth
Major driving factor for growth of the penetration testing market is the ability of penetration testing to provide security to industries from various cyber-attacks, as increasing incidence of cyber-attacks can increase the vulnerability of critical data stored by organizations and adversely impact the revenue. For instance, according to a report published by Academy and Industry Research Collaboration Center (AIRCC) in 2016, the number of web attacks in the U.S. in 2015, increased by 36% with over 4,500 new attacks each day. Moreover, increasing adoption of advance technologies such as Internet of Things (IoT), cloud computing, Bring Your Own Device (BYOD), and rise in disposable income has contributed to growth of the penetration testing market. For instance, according to a June 2018, report by Bureau of Economic Analysis (BEA), Disposable Personal Income (DPI) in the U.S. increased by US$ 39.8 billion (0.3 %) in April 2018 as compared to 2017. The same report stated that personal disposable income of Americans increased at an average rate of 2.8% year on year from the second quarter of 2015 to the second quarter of 2017. Adoption of cloud computing has increased over the last decade as this technology is highly scalable, efficient in operation, and cost effective in comparison to other data storage and transfer technologies but is highly vulnerable and provides easy access to unauthorized users. This makes the deployment of penetration technologies very important. For instance, according to 2016, report by United States International Trade Commission (USITC) US$ 43.3 billion was invested by the U.S. in cloud computing services in 2015.
Furthermore, use of computers and mobile devices have increased over the last few years. Computers or laptops are used for storing or handling large amount of critical data and applications, which are used by government and defense agencies. It is highly important to equip systems with security software, which can counter data theft. Moreover, security of Banking, Financial Services, and Industries (BFSI) are most important as critical web applications used in BFSI are at high risk of cyber-attacks. This makes the deployment of penetration testing indispensable.
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Lower adoption of penetration testing systems by smaller organizations is hindering market growth
The adoption rate of penetration testing systems is very low in smaller enterprises, as these companies allocate lesser budget on cyber security solutions and penetration testing. Lack of knowledge and awareness regarding the use of security services in various industries coupled with shortage of skilled labor to carry out penetration testing exercises is adversely impacting growth of the penetration testing market.
Regional analysis of penetration testing market
North America and Europe dominated the market with respect to penetration testing and are expected to maintain their dominance during forecast period, owing to increasing adoption of cloud services and Bring Your Own Device (BYOD) technology. For instance, according to Coherent Market Insights, in 2018, the U.S invested around US$ 95 billion on cloud services, accounting for more than 58% of the amount spent on cloud services worldwide. Furthermore, the UK and Germany collectively spent over US$ 14 billion on cloud services in 2018. Another factor which is contributing to the growth of the market in the region is presence of many key players (such as IBM Corporation, Synopsys, and WhiteHat Security among others) serving the penetration testing market in the region.
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Sensor Market Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Sensor is a device that detects different types of physical input such as light, heat, motion, moisture, and pressure, among others. This data transmits to an electronic device for further processing.
Increasing demand for Internet of things (IoT) is one of the major driving factors boosting the growth of global sensor market during forecast period
Increasing utilization of internet of things (IoT) is a major factor expected to boost growth of the global sensors market. Major benefits associated with IoT devices is tracking data in real-time, and providing more accurate data, which in turn leads to better decision making. Owing to these features, advent of IoT technology has led to increased adoption of smart devices such as smart watch, smart grid, smart homes, and smart water networks. For instance, according to the Coherent Market Insights' analysis, the total unit of smart watches sales in 2016 was US$ 36 million and it increased to US$ 76 million in 2017, globally. These systems are incorporated with different types of sensors that help in integrating several functionalities in a single chip such as seamless transfer and exchange of data. Moreover, sensors can be utilized for various applications including monitoring, security as well as intelligent lighting systems. For instance, according to the Coherent Market Insights’ analysis, the number of total IoT connected devices was around 15.4 billion in 2015 across the globally. Therefore, these devices require sensors which in turn is propelling growth of the global sensors market.
Increasing demand for sensors in smartphones another key factor supporting growth of the global sensors market
Smartphone are incorporated with different types of sensors such as gyroscope, proximity sensors, motion sensors, ambient light sensor, proximity, biometric sensors, and temperature detector that are used to measure motion, orientation, and various environmental conditions. These sensors are capable of providing data with high precision and accuracy, which in turn aids in automatic control. Smartphone manufacturing companies have increased the number of sensors in their devices to enhance the overall user interface experience, which is expected to aid in growth of the market. For instance, in September 2017, Apple launched iPhoneX with the FaceID unlock features. The company has incorporated four sensors, which in turn provides accurate facial recognition in any lighting conditions. Hence, these factors are accelerating the global sensors market growth.
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High cost of smart sensors development is a key factor restraining the global sensors market growth
Devices that are incorporated with sensors add extra value to the devices, which is one of the major factors restraining growth of the market. Another factor expected to restrain global sensors market growth is the limited functionality of sensors. Electronic systems are dependent on sensors, microcontrollers, and semiconductors to function. The sensors are responsible for detecting information and convey it to an Electronic Control Unit (ECU). The ECU processes the data through an algorithm, and then it helps in decision making and automating the process. Hence, limited functionality of sensors is reducing its dependability. This factor is further hindering the global market growth.
Global Sensor Market: Regional Insights
North America accounted for largest market share in global sensors market in 2017 and is expected to retain its dominance during the forecasted period. This is owing increasing usage of IoT devices in various verticals such as automotive, healthcare, agriculture, and others. This is one of the factors help in propelling growth of the market in this region. For instance, according to the Coherent Market Insights' analysis, in the U.S., around 60% of the healthcare industry have used IoT in 2017 for diagnosis and monitoring of the patient health. IoT devices in the healthcare sector helps in cost reduction, as healthcare specialists can take advantage of remote health monitoring, without the patient being present in the hospital. Additionally, advancement in wearable health gadgets such as the Apple iWatch is playing a pivotal role in monitoring individual’s health. Therefore, increasing usage of IoT, which is further expected to propel the growth of the sensors market in this particular region.
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High cost of smart sensors development is a key factor restraining the global sensors market growth Devices that are incorporated with sensors add extra value to the devices, which is one of the major factors restraining growth of the market. Another factor expected to restrain global sensors market growth is the limited functionality of sensors. Electronic systems are dependent on sensors, microcontrollers, and semiconductors to function. The sensors are responsible for detecting information and convey it to an Electronic Control Unit (ECU). The ECU processes the data through an algorithm, and then it helps in decision making and automating the process. Hence, limited functionality of sensors is reducing its dependability. This factor is further hindering the global market growth.
Global Sensor Market: Regional Insights North America accounted for largest market share in global sensors market in 2017 and is expected to retain its dominance during the forecasted period. This is owing increasing usage of IoT devices in various verticals such as automotive, healthcare, agriculture, and others. This is one of the factors help in propelling growth of the market in this region. For instance, according to the Coherent Market Insights' analysis, in the U.S., around 60% of the healthcare industry have used IoT in 2017 for diagnosis and monitoring of the patient health. IoT devices in the healthcare sector helps in cost reduction, as healthcare specialists can take advantage of remote health monitoring, without the patient being present in the hospital. Additionally, advancement in wearable health gadgets such as the Apple iWatch is playing a pivotal role in monitoring individual’s health. Therefore, increasing usage of IoT, which is further expected to propel the growth of the sensors market in this particular region.Sensor is a device that detects different types of physical input such as light, heat, motion, moisture, and pressure, among others. This data transmits to an electronic device for further processing.
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Increasing demand for Internet of things (IoT) is one of the major driving factors boosting the growth of global sensor market during forecast period
Increasing utilization of internet of things (IoT) is a major factor expected to boost growth of the global sensors market. Major benefits associated with IoT devices is tracking data in real-time, and providing more accurate data, which in turn leads to better decision making. Owing to these features, advent of IoT technology has led to increased adoption of smart devices such as smart watch, smart grid, smart homes, and smart water networks. For instance, according to the Coherent Market Insights' analysis, the total unit of smart watches sales in 2016 was US$ 36 million and it increased to US$ 76 million in 2017, globally. These systems are incorporated with different types of sensors that help in integrating several functionalities in a single chip such as seamless transfer and exchange of data. Moreover, sensors can be utilized for various applications including monitoring, security as well as intelligent lighting systems. For instance, according to the Coherent Market Insights’ analysis, the number of total IoT connected devices was around 15.4 billion in 2015 across the globally. Therefore, these devices require sensors which in turn is propelling growth of the global sensors market.
Increasing demand for sensors in smartphones another key factor supporting growth of the global sensors market
Smartphone are incorporated with different types of sensors such as gyroscope, proximity sensors, motion sensors, ambient light sensor, proximity, biometric sensors, and temperature detector that are used to measure motion, orientation, and various environmental conditions. These sensors are capable of providing data with high precision and accuracy, which in turn aids in automatic control. Smartphone manufacturing companies have increased the number of sensors in their devices to enhance the overall user interface experience, which is expected to aid in growth of the market. For instance, in September 2017, Apple launched iPhoneX with the FaceID unlock features. The company has incorporated four sensors, which in turn provides accurate facial recognition in any lighting conditions. Hence, these factors are accelerating the global sensors market growth.
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An interactive kiosk is a computer terminal that features specialized hardware and software that provides access to applications and information for entertainment, commerce, communication, or education. Kiosks can be manned or unmanned while unmanned kiosks can be digital or non-digital.
Improvement offered in customer experience is expected to drive growth global kiosk market during the forecast period
Kiosks can aid the owner to offer new opportunities for income generation. A kiosk involves advanced programing and specialized hardware that streamline the entire customer interaction process and leads to real-time interaction between a prospective buyer and kiosks. Moreover, it can offer various advantages to customers, which are not provided by other technological advancements. For instance, gas stations are largely run on digital processes and customers make payment at the pump. The technology that is used to swipe credit cards or select fuel has an additional option of streaming video content while petrol is being pumped. It can be used to provide quick entertainment or display certain strategic advertisements. Moreover, most customers in today’s generation do not appreciate any interference while choosing or deciding on buying a product. Instead, they prefer to seek any sort of technical assistance depending on their individual necessity. Thus, such benefits are expected to support growth of the market in the near future.
Availability of customer transaction with minimal space is expected to propel the global kiosk market growth over the forecast period
A kiosk enables organizations to run their businesses in a very minimal space, which in turn reduces expenditure significantly. Several kiosks can be placed in minimal places and thus stores can take care of customers even with significantly less space. Such strategic moves are crucial for small stores and enterprises considering the limited space or land they have. As a result of this, returns on the company’s investment increase thereby increasing the possibility of expanding profit margins. Hence, these actors are expected to propel the global kiosk market growth over the forecast period.
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Market Dynamics- Restraints
High cost required for installation of kiosks is expected to hamper the global kiosk market growth over the forecast period
Installing and authorizing kiosk requires significant cost. This expenditure continues to rise with timely maintenance and hardware and software components. Since majority of kiosk in operation today are touchscreen, the possibility of screens getting damaged leading to regular replacement is very high. Although screens with greater longevity are available in the market, there are certain issues regarding their clarity. Hence, such factors are expected to hamper adoption of kiosks and restrict growth of the market in the near future.
Major issues regarding data theft are expected to hinder the global kiosk market growth during the forecast period
Although most kiosks are equipped with capability to protect from any cyber-attack, problems such as data theft are prevalent. Employees are unable to keep track of each and every customer closely, which leads to customers stealing from self-checkouts. The general trend is replacing the barcodes of high-priced items with low-priced items. This can be considered a serious threat for any business that has installed kiosks to boost sales. This restraint is expected to have a high impact on the market in the next few years and in the long run. Moreover, many businesses are still hesitant about choosing kiosk systems to store important data. This, in turn, is expected to hinder growth of the global kiosk market during the forecast period.
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Digital rights management (DRM) is the technology that is used to protect data and limit the usage of copyright content.
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