Rohit Kumar
Its a Collection of Market Reports from Various Domains Related to Market Info. That Includes Automotive, Automation, and Instrumentation, Agriculture, Aerospace and Defense, Chemicals and Materials, Consumer Products and Services, Energy and Power, Education, Electronics, Food and Beverages, Information and Communication Technologies, Life Science and Healthcare.
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Automotive Adaptive Headlights Market size is forecast to reach $4.5 billion by 2025, after growing at a CAGR of 8.7% during 2020-2025. Adaptive headlights are sensitive to vehicle speed and elevation and automatically adapt to the road. The incidence of traffic fatality is on the increase and a lot of this contributes to the rising deaths of pedestrians. Automotive Lighting advancements are an essential factor which plays an important part in driver and pedestrian safety. Investment in the segments of automotive lighting is increasing, representing its global market size at $23.8 billion as of 2019. The global market for Automotive Adaptive Headlights largely profits from a change in government legislation and the end-user viewpoint of increased safety in cars. Despite the chaos generated by the global economic crash of 2008, after 2014, the automobile industry regained its pre-crisis annual growth pace.
Report Coverage
The report: “Automotive Adaptive Headlights Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Automotive Adaptive Headlights Market.
By System: Highway Light, Rural Light, High Beam, Bend Lighting, Adverse Weather Light.
By Vehicle Type:Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), Truck and Buses, Others.
By Function: Halogen Headlight,Xenon Headlight, LED Headlight, Others.
Key Takeaways
Automotive Adaptive Headlights Market Segment Analysis - By Technology
Halogen Headlight category in the commodity sector is expected to grow substantially over the forecast period. If you open 90% of the car headlights on the road today, you can consider a headlight halogen bulb. The system is not new but it has been developed to where it is now as much as possible. Halogen light bulbs have only 2% – 4% luminous capacity. For many countries, the power of their headlamps is legally restricted. Companies such as Sylvania and Philips are recognized for their high-quality products, with severe visibility becoming their leading halogen bulb standard. A monitor monitors evening traffic and sends out detail to the headlamps. It tests the optimal beam design to 100 times a second.
Automotive Adaptive Headlights Market Segment Analysis - By Vehicle Type
Passenger cars are the fastest-growing vehicles on the automotive adaptive headlight segment, despite vehicle type. Demand for passenger vehicles is increasing at a significant pace due to rising disposable income and the developing lifestyle of the urban population. People's minds have changed from vehicles-as - a-luxury to automobiles-as - a-needs, and this is the most important aspect of the growth in passenger cars that the CAGR report saw rising to 5.20% by 2025. Moreover, growing business prospects in the car rental industry are pushing passenger car takeovers. Passenger vehicles are the most popular mode of transport in developed countries and are also increasing in numbers in developing countries due to higher per capita income.
Automotive Adaptive Headlights Market Segment Analysis - Geography
The Vehicle Integrated Headlights market is forecast to expand at a CAGR 8.8 per cent in terms of volume and reach USD 3.48 billion in 2026. North America leads the way per region in the global demand for vehicle integrated headlamps. The field for automotive adaptive headlights is expected to gain 33.50 percent of the total market share. This high share is due to the involvement of key players who control the field accustomed to the premium car and passenger car industries. The ballooning automobile industry, which has accrued with the latest electric vehicle segment, also accounts for the expandable growth in the global automotive lighting market. The major factors expected to drive the market for automotive advanced lighting in Asia-Pacific are increasing sales of new automobiles, concentrating on research and development into automotive lighting. Economic growth in the area directly influences the selling of passenger cars and commercial vehicles. Manufacturers are looking to improve their flexibility across the value chain.
Automotive Adaptive Headlights Market Drivers
Adaptive light in every condition
These lights are not confined to night driving alone but are also critical in conditions such as wind, fog, dust or snow. According to the National Safety Council, in 2017, medically-consulted injuries due to vehicle accidents totalled 4.6 million and in the same year the aggregated accident losses were reported at $433.8 billion.58 per cent of motorists are in the UK, according to a study by RAC Motoring Services. Road finds the glare generated by new age headlights to be unacceptable and to be liable for driver’s risk of collision. While the lighting industry is increasing in the automotive sector, the industry is still searching for efficient, competitive and, most importantly, much safer lighting solutions in the automotive lighting market.
Growing demand for premium car
Growing demand for premium cars is expected to create more incentives for adaptive headlights to develop in the industry. Market for ultra-luxury cars has gone up considerably. Customers of brands like Porsche, Aston Martin, Bugatti or Ferrari are searching for consistency but also new market innovations. Adaptive headlamps are new features that drive the market.
Partnership between automotive OEMs and lighting system manufacture
Major manufacturers of automotive lighting have collaborated with OEMs to design a new standard that not only fulfils the OEM's specifications but also expands the technical reach and expertise for lighting users. This will boost market demand for Automotive Adaptive Headlights.
Automotive Adaptive Headlights Market Challenges
Market Landscape
Software releases, acquisitions, and R&D initiatives are primary tactics that players in the market for the automotive adaptive headlights device market follow - Hella KGaA Hueck & Co, Valeo S.A, Osram GmbH, Continental AG, Hyundai Mobis, Ichikoh Industries, Magneti Marelli, Koito Manufacturing Co., Stanley Electric Co. Ltd, Koninklijke Philips N.V, Robert Bosch GmbH, Zizala Lichtsysteme GmbH, NXP Semiconductors, Aptiv PLC, Grupo Antolin, Federal-Mogul Corporation, Lear Corporation,Gentex Corporation, Flex-N-Gate, North American Lighting, Denso Corporation, Renesas Electronics Corporation, Keboda, Varroc, Lumax Industries.
Launches/Acquisitions
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Autonomous Driving Chipsets Market was around $1.83 billion in 2019 and is estimated to reach $7.77 billion by 2025, growing at a healthy 38.1% CAGR during the forecast period. The artificial intelligent (AI) chip in the autonomous driving system is the most critical component and also a new opportunity for SoC designers. Driven by Tesla, many vendors have joined the race to design chips for autonomous driving over the past few years.
Autonomous Driving Chipsets Market was around $1.83billion in 2019 and is estimated to reach $7.77billion by 2025, growing at a healthy 38.1% CAGR during the forecast period. The artificial intelligent (AI) chip in the autonomous driving system is the most critical component and also a new opportunity for SoC designers. Driven by Tesla, many vendors have joined the race to design chips for autonomous driving over the past few years.
Report Coverage
The report: “Autonomous Driving Chipset Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Autonomous Driving Chipset Market.
By Vehicle Type – Passenger vehicle, heavy commercial vehicle, light commercial vehicle
By ADAS Features – lane assist, crash warning system, blind-spot detection, adaptive cruise control, smart parking assist, automatic emergency braking
By Application – Driver assistance, safety, vehicle motion, infotainment
By Level of automation – Level 1, Level 2, Level 3, Level 4, Level 5
By Geography- North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa)
Key Takeaways
ADAS Features - Segment Analysis
Advanced Driver Assistance System (ADAS) has been one of the remarkable breakthroughs in designing applications for advanced safety in automobiles. ADAS is an array of systems and subsystems that incorporates electronic components such as sensors, microcontrollers and software under one roof. The sensors installed in the driver assistance systems are linked with the Electronic Stability Control (ESC) in cars that provide beep signals and direct drivers away from arduous situations that can possibly lead to fatal accidents. Automatic emergency braking held the largest share of 29% followed by adaptive cruise control with 19% share in the overall ADAS systems in 2019. AEBS collects data and information from the front-end radar and video-based systems, irrespective of driver intervention in vehicle movements. AEBS use long-range radar (LRR) and mid-range radar (MRR) in blend with the video cameras. AEBS as an effective safety technology has been approved by the European Commission in 2014 and the regulations made by the commission clearly states that the AEBS installation should be mandatory in every new vehicle registered from 2015 onwards in Europe. This will decrease the casualties caused due to traffic accidents by 5,000 per year in Europe. AEBS has now become mandatory in Europe and North America by law and will soon be adopted by other continents as the mandatory safety components in automobiles.
End-User - Segment Analysis
Autonomous driving chipsets are used in both passenger and commercial vehicles currently, including LCVs and HCVs. The market opportunity in passenger vehicles is estimated to reach $5.51bn in 2025, growing at a CAGR of 37%, while commercial vehicles are estimated to hit $2.25bn in 2025, at a healthy CAGR of 41.5%. Passenger vehicles add to around 75% of the overall car production and the passenger car market is growing at a CAGR of 3.4% as per a global study. The increase in passenger vehicle shipments and high on-road vehicles density has spawned up the need for safety measures in the automobiles. The regulations passed by the European Commission and National Highway Traffic Safety Association (NHTSA), U.S.A regarding the installation of certain ADV features such as AEB and TPMS to be made mandatory in every vehicle manufactured in 2014. The rise in the number of new car registrations is pumping up the passenger vehicle market resulting in more demand for ADV market shipments.
Geography - Segment Analysis
Global Autonomous Driving Chipset Market is dominated by North America with a share of 41% in 2019. U.S. is a leading nation with a much larger consumption rate for ADV chipsets compared to other countries considered for this study. The region had acquired 65% market share in terms of revenue in 2019. The safety regulations set by the N.H.T.S.A in the U.S. and Canada has made it mandatory for the car and commercial manufacturers to offer certain ADAS applications such as AEB, LDWS, and FCWS as standard features. There are a few more reasons driving the ADV chipset market towards growth: one is the higher GDP of the nation that enables higher purchasing power of the consumers and second is the higher penetration rates of the ADAS in luxury as well as standard vehicles. The presence of the key suppliers for the ADV chipsets such as Autoliv, TRW Automotive is among the few factors leading to the growth of this market in the region.
Drivers – Autonomous Driving Chipset Market
Increase in Demand for Comfort Driving
Demographic changes over the last few years will intensely impact the market. For instance, the regular life expectancy of people has increased, which has led to a growth in the geriatric population worldwide. This has led to increased utilization of tools which can assist this population to drive safer. The rising occurrence of the target vehicle, growing per capita automotive expenditure, and government initiatives aimed at providing automotive industry will aid the extension of the global advanced driver assistance system market.
Increasing Focus on Safety such as Lane Departure Warning Systems, Automated Emergency Braking Systems etc
Key drivers for the development of the ADAS market are the customers’ interests and attitudes. There is a significant difference between the demand generated by the regulations imposed by the government bodies and the continually changing consumer preferences. The U.S. and European customers’ responses and viewpoints for safety measures in automobiles highlight the contrast between their attitudes, awareness and knowledge towards active safety. European purchasers appear to be more concerned about vehicle safety, have a larger amount of awareness of driver assistance systems and are ready to pay for extra safety measures.
Challenges – Autonomous Driving Chipset Market
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Autonomous Driving Chipset Market. The autonomous Driving Chipset driver market is expected to be dominated by major companies such as NVIDIA Corporation, Qualcomm, Mobil eye, Intel Corporation, Tesla, Samsung, Waymo, Autotalks, Seimens, Xilinx, TI (Texas Instruments), Infineon and Renesas Electronics among others.
Acquisitions/Technology Launches/Partnerships
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China Automotive Additive Manufacturing Market size is forecast to reach $8.5 billion by 2025, after growing at a CAGR 7.5% during 2020-2025. Automotive Additive Manufacturing is referred to as the process that makes up 3D structures that are produced to shape a structure by incorporating several sets of layers of materials. According to the Chinese Passenger Car Association (CPCA), the demand for electric car is growing progressively. This is due to the rising development of lightweight automobile parts utilizing 3D automobile printing technologies. The Chinese Government has rendered the development of additive manufacturing technologies a priority in the region. International companies are urged to create subsidiaries, although some domestic companies are also driven by government policies. Collaboration with other industry leader companies to incorporate the technology into their manufacturing process and create innovative product innovations would help them achieve strategic edge over their competitors.
Key Takeaways
China Automotive Additive Manufacturing Market Segment Analysis - By Material
On the basis of material Metal is expected to grow the highest CAGR of 7.8% in the forecast period, as 3D printing is simple to use in the manufacture of end products. Printing technology will actually be used to print stainless steel, die steel, cobalt chromium alloy, nickel alloy, aluminum alloy, and iron base metal products. Companies including Zhuhai CTC, Stratasys, 3D Systems and other leading players are developing new metals and metal-based materials which can be used in printing processes. ASTM International continues to work toward standardizing specification for AM metal powders. Increasing use of 3D printing and prototype technology by aircraft manufacturing firms will also increase the scale of additive manufacturing of metal powders in the years ahead.
China Automotive Additive Manufacturing Market Segment Analysis - By Technology
On the basis of technology Laser Sintering is expected to grow the highest CAGR of 6.5% in the forecast period. Laser sintering is an additive manufacturing technique used to process all kinds of materials, such as polymers, plastics, ceramics and composites, in order to produce complex components. It includes automobile, aerospace devices, biomedical and architectural applications. Farsoon technologies based in China recently announced its extension of the direct selling of metal additives manufactured in North America. Farsoon has entered into a collaboration with prodways to create a range of 3D printers developed using a laser sintering system, the FS271M. The extremely detailed custom scanning algorithm for the drug makes it a good choice in automotive applications.
China Automotive Additive Manufacturing Market Segment Analysis - By Manufacturing Process
Material Jetting is expected to grow the highest CAGR by 2025. Material jetting produces artifacts in a manner similar to a two-dimensional jet ink printer. Content is placed onto a build site using either a continuous strategy, or Drop on Demand (DOD). Material is jetted onto the construction surface or foundation where it solidifies and layer by layer the model is built. Deposits material from a nozzle that travels horizontally around the build frame. Machines differ in their design and way of regulating concrete deposition. Use ultraviolet (UV) light the substance layers are either cured or hardened. The method benefits from high precision droplet deposition and hence low loss. It makes multiple material sections and colors in one phase. In the world of biomedical technology the material jetting industry has a significant utility. Many health-care infections are attributed to biofilms that grow on the surface of the medical device. Together with their planktonic counterparts they develop a greater immunity to antibiotics and the immune system. The jetting of materials allows accurate anatomy, scale and form for printed devices.
China Automotive Additive Manufacturing Market Drivers
-Impressive growth of Electric vehicles in China
China recorded 1 million electric vehicle sales in 2018, which is more than twice the number of sales in U.S. Same way 777000 units of EVs were sold in china in 2017, up 53% compared to 2016 as reported by CAAM. Owing to the increasing value of additive manufacturing in EVs, the exceptional growth opportunities for the Chinese electric vehicles industry are a significant growth driver for the automotive additive manufacturing sector. In the Chinese industry, additive processing is used by the OEMs as a workaround. Automotive OEMs collaborate with leading operable additive manufacturing firms. We concentrate primarily on techniques such as stereo lithography, fused deposition modeling and laser sintering. Such innovations have considerable expertise in the production of cost-effective and composite materials that aid to improve the efficiency of the vehicles.
-Growing Investments In Additive Manufacturing
China's additive manufacturing industry is gaining momentum because of tremendous funds for research and development of industrial technology and materials. BMW spent $12 million in a new additive engineering facility in April 2018. HP and Guandong firms have announced a new production center for additives in Dali, Foshan China. The venture in 10 HP Multi jet fusion 3D printing systems and is the biggest production-grade 3D printing installation in Asia Pacific by HP.
China Automotive Additive Manufacturing Market Challenges
-Low Speed Production
Additive manufacturing faces difficulties in the speed of production, which reduces the scope of further production. Additive manufacturing is a game changer in industries where the added profit produced by the manufacturing method overweighs the higher production costs. The automotive industry is, however, a high-volume business needing significant output rates to make profit. The low-speed production of the additive manufacturing technique is seen as a significant impediment to the broader implementation of the automotive manufacturing techniques. Fast speed additive processing has been an important research field in an effort to tackle this challenge.
China Automotive Additive Manufacturing Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the China Automotive Additive Manufacturing Market. In 2019, the market of China Automotive Additive Manufacturing Market has been consolidated by the top players - Stratasys Ltd, Electro Optical Systems GmbH, Beijing Tiertime Technology Co.Ltd, Shining 3D Tech Co.Ltd, Farsoon Technologies, Protofab, 3D Systems Corporation, SLM Solutions GmbH, Materialise NV, Renishaw PLC.Pvt Intech Additive Solutions.
Launches/Acquisitions
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The Global market for Cloud Managed LAN Market is estimated to reach $1523.47 million by 2025, growing at a CAGR of 11.83% from 2020 to 2025. Cloud-managed local area network is a data communication network connecting various terminals or computers within a limited geographical area along with operating data and services residing in the cloud. Cloud-managed LAN technology nowadays has become a popular source of a communication network with broader market prospects. Cloud-managed LAN services are influencing the market prospects as it provides secure connectivity, cloud-hosted centralized platform and an intuitive browser-based dashboard. This cloud-managed LAN technology is boosting the growth of the market as it facilitates quick and uncomplicated device exchanges in the data communication network. Fast transmission of a large amount of data, demand for high-speed internet within a small geographical area, ease of integrating devices into a home or corporate networks along cost-effectiveness are fueling the growth of Cloud Managed LAN Market.
Key Takeaways
By Deployment- Segment Analysis
By deployment, the Cloud Managed LAN Market is segmented into the public cloud, private cloud and hybrid cloud. The public cloud segment is witnessing significant growth in Cloud Managed LAN market owing to the several benefits like services are offered by the third party making them available to the users who want it whereas in the deployment of private cloud services are offered to only selected users. Public cloud the services are offered by third party providers over the public internet. Due to this feature, small and medium enterprises could deploy it. The third-party cloud service provider also provides access to the cloud computing resources like servers and storage over the internet which makes the deployment of public cloud easier for the small and medium enterprises along with the large enterprises. Furthermore, public clouds can be deployed faster than the private cloud with an almost infinity scalable platform making it easy for the deployment by various IT firms. These factors are fueling the growth of public cloud aiding the rise in growth of Cloud Managed LAN Market.
Application - Segment Analysis
By application, the market is segmented into healthcare, manufacturing, telecommunications, retail and others. Various healthcare Clinics are witnessing significant growth rate in Cloud Managed LAN Market owing to its wide use in communications, medical data transmissions and patient monitoring. Cloud-based wireless LANs are used as tracking systems due to the installation of access points at every corner of the hospitals for constant connection which is used for tracking patient’s records. Many hospitals use a separate network infrastructure for every department as a way to provide security and performance which totally rely upon the cloud-based LAN networks. Separate networks operated by cloud-managed LAN in hospitals are also used for biomedical devices such as infusion pumps and meters. Furthermore, investments made on electronic medical records, picture archiving and communication systems, clinical imaging systems are carried out in various hospitals through the cloud-managed LAN networks fueling the growth of the market in this vertical.
Geography - Segment Analysis
North America dominated the Cloud Managed LAN Market share by a CAGR xx% in 2019 owing to the demand for a business operated in analytics, Internet of Things along infrastructure management. The requirement for cloud-managed LAN networks is contributing to further growth of the market in the North America region. Furthermore, dynamic business requirements along with growing enterprises are aiding to more use of cloud-based LAN networks in this region. According to the International Trade Administration In 2018, 50% of enterprises with more than 1000 users are anticipated using products provided by Cloud Access Security Broker (CASB) to monitor and manage their use of software as service and forms of public cloud in the United States. Furthermore, U.S companies are very well-positioned to continue in leadership positions within the cloud-managed LAN global market.
Drivers – Cloud Managed LAN Market
- Rising use of Software as service Technology:
In most countries like Canada, Australia, United States and others increasing use of software as service technology owing to its low cost, ease of use, scalability is driving the growth of the market. Software as service technology connects the users to the cloud-based apps over the internet. In this technology, all the underlying infrastructure, middleware, app software and app data are located in the service provider’s data centre and the user only has to rent the use of the software and connect to it over the internet. The service provider manages the security of apps and data. There is a rise in use of software as service technology by the various enterprises which are developed and the enterprises that are emerging globally, which in turn use the cloud-managed LAN technologies to avail software as a service technology. Deployment of Cloud-managed LAN services through the various multinational firms due to the need for secured and cost-effective internet along with thereby rise in use of software as service technology are driving the growth of the market.
- Cost-effectiveness and Access to high-Speed Internet:
In the various IT firms, there is a requirement for high-speed internet along with cost-effective technology. Cloud-managed LAN services are best suited for use in the various IT firms due to their high-speed internet and cost-effectiveness. The public cloud, private cloud and hybrid cloud technologies are availed by access to the servers through the penetration of high-speed internet. These factors are driving the growth of the market.
Challenges – Cloud Managed LAN Market
Cloud-managed LAN networks generally cover a small geographical area therefore it is difficult for the large enterprises to depend only on cloud-managed LAN networks for internet use. Furthermore, from the cost-saving perspectives, the use of on-premises networks are mostly preferred by various enterprises. Virtual Private Networks are used for communication between the servers rather than the Cloud-based LANS owing to its speed, redundancy and application in a wide geographical area. VPNs due to their high speed, redundancy and security are mostly preferred by the various IT firms replacing the use of cloud-managed LANs. These factors are hindering the growth of the market.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Cloud Managed LAN Market are given in this report. Cloud Managed LAN Market is dominated by major companies such as Cisco Systems Inc., Aerohive Networks, DXC Technology, Riverbed Technology, T-Systems International, Lancôme Solutions GmbH, Verizon (US), Nokia (Finland), Juniper Networks (US), Iricent Ltd. among others.
Acquisitions/Technology Launches
March 24, 2020- Juniper Networks (US) launched Mist Premium Analytics, a new service that offers enterprises comprehensive network visibility and business incites platform to support increasing demands of digital transformation projects
March 15, 2019-Riverbed Technology launched SaaS (software as service) accelerators which provide performance enhancements for various SaaS apps like Salesforce, box, service now 0365 and others.
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Global Cloud Non-Relational Database Market is forecast to reach $25.4billion by 2025, growing at a CAGR of 16.7% during the forecast period from 2020 to 2025. The Cloud non-relational database market is driven primarily by factors such as increasing structured as well as unstructured data in the market due to fast-growing businesses and industries across the globe. Moreover, high flexibility and elastic scalability are some major reasons for the rising popularity of cloud non-relational database systems.
Key Takeaways
Geography - Segment Analysis
North America is expected to have major growth in the global Cloud non-relational database market during the forecast period from 2020 to 2025. Presence of key players such as Oracle Corporation, IBM and Microsoft are acting as major drivers for the growth of cloud non-relational database market. Oracle contributed a major share in the cloud database market during 2019, thus adding to the growing rise in the U.S market. Increasing demand of cloud computing by large enterprises can also help in fueling the market growth for cloud database market.
Drivers – Cloud non-relational database Market
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Cloud non-relational database Market. The major key players in the Cloud non-relational database Market include IBM Corporation, Amazon Web Services, Oracle Corporation, Microsoft Corporation, Google, Redis labs, Rackspace Inc., MongoDB Inc., Alibaba Cloud, SAP and Tencent.
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Coating Agents for Synthetic Leathers Market size is forecast to reach $45.46 billion by 2025, after growing at a CAGR of 7.9% during 2020-2025. Coating Agents for Synthetic Leathers industry is projected to augment due to its used in applications where a combination of properties offered by different reinforcing fibers is required. Glass-carbon epoxy and carbon-aramid epoxy are the two commonly used types of Coating Agents for Synthetic Leathers.
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The Customer Experience Management Market is forecast to reach $17.9 billion by 2025, growing at a CAGR of 15.4% in the period 2020-2025. The Customer experience management market is driven primarily by factors such as rising use of machine learning, artificial intelligence, cloud computing for having proper communication and establishing relationship with customers. Additionally, these advanced techniques helps in analyzing the customer needs through monitoring the Customer inclinations, expenditure conduct, purchasing patterns thereby boosting the market growth during the forecast period 2020-2025
The Customer Experience Management Market is forecast to reach $17.9 billion by 2025, growing at a CAGR of 15.4% in the period 2020-2025. The Customer experience management market is driven primarily by factors such as rising use of machine learning, artificial intelligence, cloud computing for having proper communication and establishing relationship with customers. Additionally, this advanced techniques helps in analyzing the customer needs through monitoring the Customer inclinations, expenditure conduct, purchasing patterns thereby boosting the market growth during the forecast period 2020-2025.
Key Takeaways
Component - Segment Analysis
The Customer experience management market is segmented into solution and service based on components. Among these, the market for service component is witnessing a significant growth during the forecast period 2020-2025 of 18.8% owing to its rising preference among small and medium enterprises. Moreover, in outsourcing the customer experience management solutions customers are assisted via managed services for the management of the business efficiently. With managed services, IT service becomes proactive. Customers are provided with regular routine maintenance to prevent downtime. An alert pop up if a system threatens to malfunction so that the issue can be addressed before downtime occurs. Consequently, managed services aids the end-user in reducing their operational costs, increasing their revenue and thus improving their business performance.
Touchpoint - Segment Analysis
Among the touchpoint, mobile segment is one of the predominant segment on the global Customer experience managements market that accelerates over the forecast period with a CAGR of 19.3%. This is attributable to the growing usage of mobile devices among customers. Moreover, effective communication on mobile leads to formation of productive relationship which in turn provides better customer service and thus enhance the market growth.
Geography - Segment Analysis
North America is the leading region across the world for Customer experience management. As of 2018, North America region accounted for a major market share of 46.4% in the global Customer experience management market The market in this region is driven primarily by factors such as large scale adoption of artificial intelligence, cloud computing technologies, customer service management solution and services. In September 2019 McDonald’s purchased conversational AI startup apparent. This technology is helpful for complex, multilingual, multi-accent, and multi-item conversational ordering. Consequently, customer experience is improved thus retaining the current customer and bringing the former customer. The APAC region is analyzed to grow at the highest rate of CAGR during the forecast period 2020-2025. This growth is attributed to the increasing rate of digitization. High penetration of advanced technologies in various fields such as banking, automotive, media and entertainment and others propelling the market growth in this region. In 2019 launch of digital banks was announced by Hong Kong Monetary Authority to renew the retail banking experience.
Drivers – Customer experience management Market
- Rise of machine learning and natural language processing(NLP)-
Radical communication channel is delivered to the customers via natural language processing (NLP). In addition, responses have become quicker, accurate and condition-based. Consequently, communications have become easier and problem with their solutions can be identified formerly before the customer might actually face it.
- Adoption of cloud-based technology-
Cloud-based technologies boost the market growth owing to accessibility of the cloud-based data anywhere. Moreover, customer behaviour with the company is analyzed through the data stored on cloud. Additionally, same data on the cloud is accessible by multiple employees or customer on same time thereby enhancing the market growth.
Challenges – Customer experience management Market
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the market players in the Customer experience management Market. As of 2018, the market for customer experience management is consolidated with the top 10 players accounting for approximately xx% of the market share. The major players in the Customer experience management Market include IBM corporation, SAP, Oracle corporation, Avaya, Medallia, Adobe system incorporation, Nokia networks, Tech Mahindra, Nice systems, 1.9 MaritzCX Research LLC among others.
Partnerships/Product Launches/Acquisition
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Dairy Processing Cleaning Products Market size is forecast to reach $1.23 billion by 2025, growing at a CAGR of 5.5% during the forecast period 2020-2025. Growing prevalence of diseases like diarrhea arising from unhygienic milk and dairy products, and increasing health and hygiene awareness are the major factor driving the growth of the market. Government implemented regulations on food quality for improving the health of the masses is expected to further enhance the overall market demand of Dairy Processing Cleaning Products Industry during the forecast period 2020-2025.
DARQ Technology Market has generated a revenue of $640 million in 2019 and expected to rise at a CAGR 16.5% during 2020-2025. Artificial intelligence, a part of DARQ technology has the highest market growth due to its wider applications adoption. AI Technology is associated with human intelligence with similar characteristics such as language comprehension, reasoning, learning, problem-solving, and so on. Moreover, technological advancements lead to wider application of DARQ thereby boosting the market growth.
Key Takeaways
Technology Type- segment analysis
AI Technology accounts for the highest market share during the forecast period 2020-2025 owing to the benefits such as reasoning, problem-solving, planning, optimal decision making, sensory perceptions and others. These capabilities of artificial intelligence technologies outstrip human actions in terms of knowledge discovery has acquired the attention of business all over the world. AI comprises of different fields such as machine learning, robotic vision, natural language processing, autonomous vehicles and others having wider application in healthcare, banking and finance, education, agriculture, automotive and others which are consequently boosting the market growth.
Application Type-segment analysis
Healthcare has the highest market share in the DARQ technology market in 2019 at 16%. Distributed ledger technology, such as block chain, will be an important part of healthcare payments and identity management. By using Distributed Ledger Technology to build a reliable set of data, healthcare companies can reduce waste, save costs and increase the quality of care. This will make it easier for people to act on the details, rather than return to the source of truth to check its authenticity. AI technology has the greatest number of emerging uses in healthcare including payment operations, medical chart updates in contact centers and assisting patients to indulge in self-service events. Healthcare organizations are deploying the full collection of AI technologies to enhance patient and doctor interaction as AI technology helps to diagnose by detecting facial disorders, retina scans, X-Rays thereby increasing the market for these DARQ technologies.
Geography Type-segment analysis
North America dominated the market for DARQ Technology. As of 2019, the region accounted for a leading market share in the DARQ Technology market of around 48%. In october2018 to address the social and economic problems, google raised a fund of $25million for artificial intelligence research, which in turn will create more opportunities for DARQ technology market during the forecast period 2020-2025. Key factors DARQ Technology market growth in this region are rising technological advancements in the field of natural language processing, machine learning, and analytical tools. Moreover, the growing penetration rate of advanced technologies in several industries including media and entertainment, real estate, retail and e-commerce, transportation, information technology and communication and others propel the growth of the DARQ Technology market.
Drivers
- Abundant data-
The significant penetration of digital systems in various industries results in large databases. Both offline and online activities are recorded and shared in data form, forming huge datasets which include structured and unstructured data from disparate sources. In addition, the availability of cloud infrastructure has made data access easy, with governments, educational institutes, and companies now storing massive cloud datasets and easily accessing them to extract insights using AI, ML, or DL technology. We also use these datasets to train new AI models, which will lead to the development of next-generation AI solutions and enhance market growth.
- Advances in Deep Learning
Deep learning is analyzed to drive the market owing to its superiority when equipped with huge amounts of data in terms of precision. Deep learning (DL) is deployed in many fields, such as speech recognition, image recognition and natural language processing (NLP) and many others, which are majorly deployed in robot navigation systems, self-driving cars and others. In addition, deep learning is majorly deployed in fraud detection as the algorithms used in this are capable of detecting the fraud in all the transaction processes occurring on the digital platform. Collectively these all benefits are boosting its market growth.
Challenges
- Lack of training among personnel
DARQ technology is highly advanced and is not comprehensible by non-technical employees. Many data scientists aren't very interested in how others will use the models they create in real life. Moreover, a limited number of AI experts are present who know how to apply the software to a given business issue.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the DARQ Technology Market. As of 2019, the market for AI Technology is consolidated with the top 10 players accounting for approximately x% of the market share. The 10 major players in the DARQ Technology Market include IBM Corporation, Accenture PLC, Chain Inc., Apple Inc., Baidu, Qualcomm Technologies Inc., Northern Digital Inc., D-Wave Systems Inc., Google Inc., and Cambridge Quantum Computing Limited among others.
Acquisitions/Technology/Launches
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DARQ Technology Market has generated a revenue of $640 million in 2019 and expected to rise at a CAGR of 16.5% during 2020-2025. Artificial intelligence, a part of DARQ technology has the highest market growth due to its wider applications adoption. AI Technology is associated with human intelligence with similar characteristics such as language comprehension, reasoning, learning, problem-solving, and so on. Moreover, technological advancements leads to wider application of DARQ thereby boosting the market growth.
The Distributed Cloud Market is forecast to reach $3.9 billion by 2025, growing at a CAGR of 24.1% during the forecast period from 2020-2025. Factors driving the distributed cloud market include increased demand for low-cost data backup, storage and security across all industries, coupled with the need to manage data generated by increased use of mobile technologies and fostering distributed cloud adoption rates. The distributed cloud shifts the centralized model of most public cloud services to a new era in cloud computing. Furthermore, the need of high-end security and well-defined sharing are boosting the market growth during the forecast period 2020-2025.
The Distributed Cloud Market is forecast to reach $3.9 billion by 2025, growing at a CAGR of 24.1% during the forecast period from 2020-2025. Factors driving the distributed cloud market include increased demand for low-cost data backup, storage and security across all industries, coupled with the need to manage data generated by increased use of mobile technologies and fostering distributed cloud adoption rates. The distributed cloud shifts the centralized model of most public cloud services to a new era in cloud computing. Furthermore, the need for high-end security and well-defined sharing are boosting the market growth during the forecast period 2020-2025.
Key Takeaways
Services - Segment Analysis
The Distributed Cloud market is segmented into data storage, networking, data security, autonomy, low latency and others. Among these, the market for data storage is witnessing significant growth during the forecast period 2020-2025. The demand for data storage is attributed to the digitization of the documents as the paper-work is gradually becoming increasing. Moreover, with an increase in the adoption rate of cloud computing among enterprises, the cloud storage market is expected to gain major traction during the forecast period 2020-2025.
End-User - Segment Analysis
Banking and Financial Services is the dominant segment which is witnessing a significant growth rate of around 30.4% during the forecast period 2020-2025. Data Security, confidentiality, data sharing, are enhancing the market growth owing to their widespread use in BFSI. Furthermore, distributed cloud model delivers innovative customer experiences, effective collaboration thus enhancing the market growth. Agile innovation, risk mitigation, cost benefits are the three factors that were identified by the British Bankers’ Association (BBA) in 2018 for the adoption of public cloud-based services by banks. Various transactions can be scanned per second thus improving the industry’s ability to warfare financial crime, such as fraud and money laundering. The distributed cloud provides a platform for optimizing the banking operations while delivering innovative services to the customer, which is consequently boosting the demand for the distributed cloud segment for the Banking and Financial services domain.
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Geography - Segment Analysis
North America dominated the global market for Distributed Clouds. As of 2019, the region accounted for a leading share of 38.7%. The main drivers of North America’s Distributed Cloud market growth include factors such as digitization, presence of a large number of enterprises, data security, data back-up and data recovery. Furthermore, increased application of cloud computing, internet of things (IoT) and so on are enhancing the market growth. Adding to this, industrial automation, improving the services to the customers for quicker queries and others are boosting the growth of the Distributed Cloud market.
Drivers – Distributed Cloud Market
- Data Recovery
Distributed systems involve services communicating through different machines. This is where message integrity, confidentiality and authentication is required. The distributed cloud provides the mechanism to keep the data secure and reliable. The mechanism includes encryption, authentication, authorization and auditing. The distributed system keeps the data even if the machine goes down. Therefore, the data recovery factor is analyzed to boost market growth.
- Digitization
The paperwork is becoming deceased and the world is rapidly moving towards digitization and this process is still going on. The significant penetration of digital systems in various industries results in large databases. Both offline and online activities are recorded and shared in data form, forming huge datasets which include structured and unstructured data from disparate sources. The availability of cloud infrastructure has made data access easy, with governments, educational institutes, and companies now storing massive cloud datasets and easily accessing them thereby boosting the market growth.
Challenges – Distributed Cloud Market
- Security concerns
Security is a big challenge in a distributed environment, especially when using public networks if proper protocols and policies are not followed. This act as a constraint and hinders the growth of the distributed cloud market. In 2010, Microsoft configured an issue related to accessing of employee contact details through non authorized users of cloud services. However, they fixed the issue in two hours and only a small number of the employee were affected.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Distributed Cloud Market. As of 2019, the market for Distributed Cloud is consolidated with the top 10 players accounting for approximately x% of the market share. The major players in the Distributed Cloud Market include IBM Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, Cisco Systems, Data Artisans, TIBCO Software Inc., Informatica, Impetus Technologies and Data Torrent among others.
Partnerships/Product Launches/Acquisition
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Global Electric Power Steering Market is forecast to reach $37.3 billion by 2025, growing at a CAGR of 6.9% during the forecast period from 2020 to 2025. The Electric Power Steering market is driven primarily by factors such as increasing demand of automated driving vehicles and the need towards green environment. Moreover, rising investments towards research and development for new technologies are estimated to penetrate the market growth in various countries during the forecast period. Adoption of electric power steering systems in commercial vehicles are also expected to mark a huge growth in the power steering systems during the forecast period.
Global Electric Power Steering (EPS) Market is forecast to reach $37.3 billion by 2025, growing at a CAGR of 6.9% during the forecast period from 2020 to 2025. The Electric Power Steering market is driven primarily by factors such as increasing demand of automated driving vehicles and the need towards a green environment. Moreover, rising investments towards research and development for new technologies are estimated to penetrate the market growth in various countries during the forecast period. Adoption of electric power steering systems in commercial vehicles are also expected to mark a huge growth in the power steering systems during the forecast period.
Key Takeaways
Product Type - Segment Analysis
Based on product type segmentation, Electric Power Steering (EPS) system can be classified into Column-assist EPS, Rack-Assist EPS and Pinion-assist EPS. With automotive companies rising adoption for EPS systems, market for Rack- and Pinion- EPS systems are expected to dominate the automotive market in the near future. Rack EPS market is expected to grow at a CAGR of 9.9% during the forecast period from 2020 to 2025, due to increasing demand of commercial vehicles adopting EPS across different manufactures. Rack-type EPS are specifically designed for heavy commercial vehicles, which can fuel the electric power steering market with the popularity of Rack type systems in heavy automobiles. Advancement of technology in electric power steering systems such as fuel consumption and safety systems has led the automotive market register high market shares and profits than the traditional hydraulic steering systems.
Geography - Segment Analysis
APAC is expected to have major growth in the global Electric Power Steering market during the forecast period from 2020 to 2025. North America is also anticipated to hold a major share in 2019 at 38.2% due to rising demand for self-driving vehicles and investments in research and development strategies. As of 2019, the region accounts for a leading share of 38.2% in the field of electric power steering systems. Heavy investment towards technology advancement and Government initiatives have helped the APAC market to grow at a rapid rate. Key players like JTEKT Corporation and Hyundai Mobis Co. Ltd have contributed for a major market share in the APAC region. Consequently, with the increasing demand for automotive industry adopting electric power steering system is acting as a major driver for the electric steering market.
Drivers – Electric Power Steering Market
Increasing demand for automated driving
The Electric Power Steering market is set to be one of the fastest-growing markets during the forecast period. The rising demand of electric power steering systems are growing prior to the high demands for self-driving vehicles in the market. The Servolectric EPS launched by Bosch, is helping to trigger the market growth of electric power steering systems due to its claims of providing highly automated driving and optimum safety in passenger cars and light commercial vehicles. Compared to the conventional power steering systems, use of Servolectric electric power steering systems has helped reduce the product weight leading to 20% savings. According to the company, about more than 70 million passenger cars with Servolectric technology are already in the market which is going to fuel the electric power steering market in the near future. With adoption of automated driving in steering systems, market is anticipated to grow at a rapid rate.am Assist, Parking Maneuver Assist.
Development for a green environment
With the technology advancement and the need to make a green environment, electric power steering market is forecast to grow with x% in the forecast period 2020-2025. Adoption of Electric power steering systems in automated vehicles are in high demand due to their contribution towards fuel efficiency and reduction in C02 emissions. As the automobile growth is rising, there is a need to safeguard the environment from those harmful emissions which are ultimately causing global warming. A step towards green environment is the need of the hour and to which, automotive industries have shifted their focus towards environment-friendly technologies. Government regulations and initiatives are also encouraging the automotive companies to shift their focus towards green technologies
Challenges – Electric Power Steering Market
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Electric Power Steering Market. The major key players in the Electric Power Steering Market include Nexteer Automotive, JTEKT Corporation, Hyundai Mobis Co. Ltd., NSK Global, Robert Bosch Automotive Steering, Denso Corporation, ZF Friedrichshafen AG, Thyssenkrupp Mitsubishi Electric, Showa Corporation, Mando Corporation, Hitachi Automotive Systems Ltd., Delphi Automotive Systems, Automation Tooling Systems (ATS) and Federal-Mogul.
Partnerships/Product Launches/Acquisition
We also publish more than 100 reports every month in “Automotive”, Go through the Domain if there are any other areas for which you would like to get a market research study.
Global Electric Power Steering (EPS) Market is forecast to reach $37.3 billion by 2025, growing at a CAGR of 6.9% during the forecast period from 2020 to 2025. The Electric Power Steering market is driven primarily by factors such as increasing demand of automated driving vehicles and the need towards green environment. Moreover, rising investments towards research and development for new technologies are estimated to penetrate the market growth in various countries during the forecast period. Adoption of electric power steering systems in commercial vehicles are also expected to mark a huge growth in the power steering systems during the forecast period.
Key Takeaways
Product Type - Segment Analysis
Based on product type segmentation, Electric Power Steering (EPS) system can be classified into Column-assist EPS, Rack-Assist EPS and Pinion-assist EPS. With automotive companies rising adoption for EPS systems, the market for Rack- and Pinion- EPS systems are expected to dominate the automotive market in the near future. Rack EPS market is expected to grow at a CAGR of 9.9% during forecast period from 2020 to 2025, due to increasing demand of commercial vehicles adopting EPS across different manufactures. Rack-type EPS are specifically designed for heavy commercial vehicles, which can fuel the electric power steering market with popularity of Rack type systems in heavy automobiles. Advancement of technology in electric power steering systems such as fuel consumption and safety systems has led the automotive market register high market shares and profits than the traditional hydraulic steering systems.
Geography - Segment Analysis
APAC is expected to have major growth in the global Electric Power Steering market during the forecast period from 2020 to 2025. North America is also anticipated to hold a major share in 2019 at 38.2% due to rising demand for self-driving vehicles and investments in research and development strategies. As of 2019, the region accounts for a leading share of 38.2% in the field of electric power steering systems. Heavy investment towards technology advancement and Government initiatives have helped the APAC market to grow at a rapid rate. Key players like JTEKT Corporation and Hyundai Mobis Co. Ltd have contributed for a major market share in the APAC region. Consequently, with increasing demand of automotive industry adopting electric power steering system is acting as a major driver for the electric steering market.
Drivers – Electric Power Steering Market
- Increasing demand for automated driving
The Electric Power Steering market is set to be one of the fastest-growing markets during the forecast period. The rising demand of electric power steering systems are growing prior to the high demands for self-driving vehicles in the market. The Servolectric EPS launched by Bosch is helping to trigger the market growth of electric power steering systems due to its claims of providing highly automated driving and optimum safety in passenger cars and light commercial vehicles. Compared to the conventional power steering systems, use of Servolectric electric power steering systems has helped reduce the product weight leading to 20% savings. According to the company, about more than 70 million passenger cars with Servolectric technology are already in the market which is going to fuel the electric power steering market in the near future. With the adoption of automated driving in steering systems, market is anticipated to grow at a rapid rate. am Assist, Parking Maneuver Assist.
Development for a green environment
With the technology advancement and the need to make a green environment, electric power steering market is forecast to grow with x% in the forecast period 2020-2025. Adoption of Electric power steering systems in automated vehicles are in high demand due to their contribution towards fuel efficiency and reduction in C02 emissions. As the automobile growth is rising, there is a need to safeguard the environment from those harmful emissions which are ultimately causing global warming. A step towards green environment is the need of the hour and to which, automotive industries have shifted their focus towards environment-friendly technologies. Government regulations and initiatives are also encouraging the automotive companies to shift their focus towards green technologies
Challenges – Electric Power Steering Market
- Chances of operational failure
As technology is advancing at a rapid pace, automation is getting more and more popular. With the use of electric power steering systems, driving process has become more smooth and efficient. With providing automated driving, these steering systems helps the driver in parking assist, traffic jam assist and other ADAS features. Since power steering systems are developed using various types of components, there are chances of operational failure. In case the steering system has a problem, it becomes dangerous for the driver as well as passengers. This is a major challenge faced in this market and thus, proper maintenance is highly essential in order to prevent any critical conditions.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Electric Power Steering Market. The major key players in the Electric Power Steering Market include Nexteer Automotive, JTEKT Corporation, Hyundai Mobis Co. Ltd., NSK Global, Robert Bosch Automotive Steering, Denso Corporation, ZF Friedrichshafen AG, ThyssenKrupp Mitsubishi Electric, Showa Corporation, Mando Corporation, Hitachi Automotive Systems Ltd., Delphi Automotive Systems, Automation Tooling Systems (ATS) and Federal-Mogul.
Partnerships/Product Launches/Acquisition
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Encapsulants Market size is forecast to reach $1.91 billion by 2025, after growing at a CAGR of 5.5% during 2020-2025. The rising in the functionality of electronics devices and the trend of miniaturization in devices are the major reasons for the growing importance of encapsulants in the semiconductor and electronics industry. Encapsulants play a major role in maintaining the accuracy in the arrangement by creating a layer on the structure of the device and ensuring that all components are in place. Encapsulant is considered to be the better alternative in manufacturing processes used through automated dispensing equipment.
Key Takeaways
By Types - Segment Analysis
The room temperature cure segment held the largest share in the Encapsulants Market in 2019. Room temperature curing systems offer easy processing and high reliability. These one and two-component systems are used in bonding, sealing, coating and potting/encapsulation applications. It has low stress & excellent electrical properties. Addition cured system do not require exposure to air for cross-linking. No by-products are released during cure. They can cure in closed environments.
By Chemistry Types - Segment Analysis
The Silicone segment held the largest share in the Encapsulants Market in 2019. Demand for electronic devices as well as commercialization of electric vehicles is driving the silicone segment in encapsulants market. Silicone is commonly a softer and less-dense material. Early silicone-packaged devices encountered failures due to weaker mechanical and environmental protection, for example, against moisture. Adhesion is also weak causing air gaps between LED chips and encapsulants, which lead light extraction to be reduced. Recent progress in material properties has promoted the usage of silicone; die bonding also prefers to use silicone resin rather than the conventional epoxy. Epoxy segment held the second-largest share in the Encapsulants market. It is the semi-conductor encapsulants which is used in most products where semi-conductors are applied, such as general home appliances including mobile phones, refrigerators and TVs, industrial devices and vehicles. With the development of IT technology and the development of electronic products based on modern technologies, the global semiconductor market is expanding and the Epoxy Encapsulants demand is increasing.
By End-User - Segment Analysis
Consumer electronics has been the primary market for encapsulants and is expected to register a growth of 6.1% during the forecast period of 2020-2025. The rapidly growing semiconductor & electronics industry and the increasing demand for smart electronic gadgets are the major factors fueling the demand for encapsulants in this industry. The trend of miniaturization and increasing multi-functionality of electronic devices have increased the number of components and risks associated with short-circuiting. These have necessitated the use of encapsulants in electronic devices. China, Japan and South Korea are the main manufacturers of Consumer Electronics Products. But due to the recent trade war between US and China, India emerges as the substitute were the MNCs shifted their production plants due to the cheap labour and skilled scientist and engineers. Another most important factor is that India has the second-largest consumer base for the consumption of these Consumer Electronics.
Geography - Segment Analysis
Asia-Pacific (APAC) dominated the Encapsulants Market with a share of 39.4% in 2019 followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for the economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in Consumer Electronics and transportation industries. China was the leading regional market, accounting for 45% of the total Asia-Pacific market. India is the second major market after china. The availability of skilled labour at lower wages in this region also attracts manufacturers.
Drivers – Encapsulants Market
Challenges- Encapsulants Market
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Metal Cleaning Chemical market. In 2019, the market of Metal Cleaning Chemical has been consolidated by the top five players accounting for xx% of the share. Major players in Encapsulants Market are ACC Silicone, BASF SE, Creative Materials Incorporated, DOW Corning Corporation, Dymax Corporation.
Acquisitions/Technology Launches/ Product Launches
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Fiberglass Reinforced Plastic (FRP) Grating Market size is forecast to reach $691.3 million by 2025, after growing at a CAGR of 5.1% during 2020-2025. With the rise in the industries such as refineries, chemical industry, oil & petroleum industry, offshore platforms, Marine & shipping and others, the consumption of FRP grating will increase and drive the demand for FRP grating market. As FRP grating is ecofriendly and recyclable also, therefore public are showing interest in sustainable and environment-friendly products, which will further enhance the overall market demand for fiberglass reinforced plastic (FRP) grating during the forecast period.
Key Takeaways
Type – Segment analysis
Pultruded FRP grating holds the largest market for FRP grating market. High quality, well designed, Pultruded Grating, which resembles metal bar grating, is stronger, lighter, equally corrosion-resistant, and in most cases, is less expensive than moulded grating. Because of these such qualities on comparison with moulded FRP grating, most of the industries prefers pultruded FRP grating. One of the main advantages of FRP Grating is that it includes anti-rust properties, owing to this, FRP grating is widely used over steel. That’s why we observe the usage of FRP grating in walkways, docks, and handrails around saltwater sides. FRP grating includes other characteristics such as very low maintenance and higher durability.
Resin – Segment analysis
Phenolic FRP grating is the mostly used resin in both moulded and pultruded FRP grating as it has properties such as good corrosion resistance and excellent fire & smoke resistant. Phenolic grating is an alternative to maintenance-intensive metal grating for applications where conventional pultruded grating cannot be used. The phenolic grating can withstand high temperatures and direct flame while maintaining its structural integrity. This feature makes the grating ideal for a wide range of offshore, marine, transportation and industrial applications.
Applications – Segment analysis
Walkways/Walk Paths is the largest application for fiberglass reinforced plastic (FRP) grating market, as it is seen across various industries such as chemical, Power Plants and others. FRP grating is vastly used for walkways and owning to its highly flammable resistant property, FRP is majorly preferable over steel. FRP Rooftop Walkway System, which is specially designed for Safe & Controlled roof access, provides non-slip, safe and all-weather access for maintenance of solar panels and frequently accessed areas without any un-necessary damage on roofs. Walkways act as designated routes, which are very crucial to keep people away from all hazards. Compared to the metal grating, FRP floor grating or FRP walkway grating is lightweight and easy to install.
End-Use – Segment Analysis
Industrial holds the largest share in the Fiberglass market due to increasing preference over metal substitutes. Due to its wide range of properties, the demand for FRP grating is growing drastically. Industries such as petrochemical, oil & gas, pharmaceutical with others are preferring the use of FRP grating for walkways in their industries instead of steel, as they are less expensive and due to its other various properties such as slip-resistant, anti-corrosion, chemical resistant, no maintenance, they were preferred over steel. FRP Walkways are mostly manufactured in yellow color, as identification of specific physical hazards including falling, tripping and for designating caution.
Geography – Segment Analysis
APAC has dominated the fiberglass reinforced plastic (FRP) grating market with a share of more than xx%, as the countries such as India, China, Japan, with others have industries on a larger scale which uses and manufactures FRP grating. As these countries include large area, industries are getting set up in these countries rapidly. And even due to some governments’ regulations towards new startups, the establishment of industries are continuously growing among these countries, owing to this, the demand for Fiberglass Reinforced Plastic (FRP) grating will also grow. The increasing use of FRP grating in various applications to ensure long-term durability and increase the service life of infrastructure is expected to drive the growth of the market in Asia-Pacific.
Drivers – Fiberglass Reinforced Plastic (FRP) grating Market
Challenges - Fiberglass Reinforced Plastic (FRP) Grating market
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fiberglass Reinforced Plastic (FRP) Grating Market. Major players in the Fiberglass Reinforced Plastic (FRP) Grating Market are Strongwell Corporation, Techno Composites Domine GmbH, McNichols Company, Bedford Reinforced Plastics, and AGC MAtex Co. Ltd. among others.
Acquisitions/Technology Launches
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Field Service Management Market size is forecast to reach $6.5 billion by 2025, at a CAGR 15.4% during 2020-2025. The growing demand for mobile apps to gain real-time visibility into field operations and the adoption of cloud-based field service management solutions, with increasing time demands and cost-effective solutions will drive the market. The increasing demand for mobility-based solutions to boost field operations, scaling up the activities of field technicians with the assistance of advanced technologies are some of the major drivers for the development of the service management industry. The number of field technicians employed worldwide has already surpassed the 20 million level and is expected to continue to rise over the forecast period. Hence with the increasing number of field service technicians market for field service management is expected to rise in the forecast period.
Key Takeaways
By Component - Segment Analysis
The category of services is likely to grow even faster than the segment of solutions. Field service management services have a broad range of uses, varying from customer support for products delivery, policy and execution to business needs. Field resources support companies connect legacy systems to modern applications and carry out preparation and deployment research so that consumers can concentrate on their core business. This has created opportunities for vendors to provide services to businesses in different industries and help them deal with challenges when configuring solutions for field service management.
By Deployment Mode - Segment Analysis
The cloud distribution method is expected to grow faster in this sector at 22.9% due to its easy, flexible, inexpensive and scalable characteristics, as it is quickly implemented by different companies. The cost of installing cloud-based field service management tools is however smaller than on-site applications. It also provides the highest level of security and reliability of the tests. As the installation costs for cloud-based field service management solutions are smaller than the on-site solutions, they face higher adoption.
By Vertical Outlook
The manufacturing sector dominated the global market in 2019 on the basis of vertical production and is expected to rise in the forecast period. Field service approaches enable manufacturing companies to reliable, productive and error-free their business operations. This helps companies to increase the quality of their products and services to help reduce the time, effort and cost of producing products and service delivery. The rapid growth in small and medium-sized company adoption of these solutions is projected to further fuel market growth over the forecast period. Field service management is an important investment sector for manufacturers as they try to adapt to the customer-centred market. Manufacturers are planning to buy, update or boost their service delivery applications in the coming year and field service management systems are one of the key components of service delivery.
Geography - Segment Analysis
Field Service Management technology market is dominated by North America, North America has the largest market share with 36.8%, as the country is a major hub for technological innovation and an early adopter of new technologies. Organizations in the area are focused on providing consumers with the best-in-class facilities, ensuring that their field technicians access the right information and tools at the right time to solve consumer problems. Higher internet penetration, communication devices, and mobile phones also significantly changed consumer preferences purchasing behaviour. Organizations implement creative field service management systems to satisfy customer needs. The participation of major players in the region often fosters competition and appreciation of the benefits gained through the implementation of field service management solutions.
Drivers – Field Service Management Market
- Increase development and digitalization transition in the field services industry
Field service providers are evolving from conventional solutions to the modernization of their business processes. Due to changes in customer requirements, field service organizations are gradually incorporating technology and digitalization into field service activities. Automation allows workers boost their productivity and best serve their customers. This allows them to adapt to changing field operator requirements throughout the day, eradicating unproductive tasks and saving time. Accordingly, companies realize the need to simplify field service management systems, increasing market demand. Product retailers are aggressively seeking to improve their products through the use of advanced technologies like AI.
- Increased accessibility demands for real-time exposure
It was almost impossible to run a field service company remotely a decade ago. Nowadays, smartphones and tablets make this a reality. The real-time tracking of the progress of field service technicians not only encourages the immediate deployment of the closest technician to solve a problem but also empowers such technicians with the necessary information to solve the problem of the consumer at the first encounter. Technicians may restore a system remotely or update new software without having to visit the site utilizing field service management technologies enabled by mobility. At the edge of the client, real-time insight into the activity of the technician provides certainty of assistance arriving at the expected time. The introduction of field service technologies powered by connectivity thus lets service organizations make better business decisions, gain better control of field operations and provide timely services to customers.
Challenges –Field Service Management Market
- Safety concerns pertaining to data security
It is very difficult for field service organizations to select the right approach from the pool of alternatives that can meet their particular business needs and thus stay professional in an extremely complex and highly competitive setting. There is no clear way of determining a field service solution's strengths or operation quality. Organizations are very cautious of their results, as data loss may cost the company a considerable amount and can tarnish the organization's brand image. Therefore, if the approach applied failed to address any of the criteria, it would impact the day-to-day field operations of businesses and the efficiency of their employees, which could contribute to further capital losses.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Field Service Management market. In 2019, the market of Field Service Management market has been consolidated by the top players - Oracle (US); Microsoft (US); IFS (Sweden); ClickSoftware (US); ServiceMax (US); Astea (US); Comarch (Poland); SAP (Germany); Salesforce (US); Trimble (US); Infor (US); OverIT (Italy); ServicePower (US); FieldAware (US); GEOCONCEPT (France); FieldEZ (India), Zinier (US), Glidesys Technologies, SAS Institute, Teradata, Tibco, Adobe, Cisco, IBM, Sisense, Astea, Comarch
Launches/Acquisitions
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Field Service Management Market size is forecast to reach $6.5 billion by 2025, at a CAGR 15.4% during 2020-2025. The growing demand for mobile apps to gain real-time visibility into field operations and the adoption of cloud-based field service management solutions, with increasing time demands and cost-effective solutions will drive the market. The increasing demand for mobility-based solutions to boost field operations, scaling up the activities of field technicians with the assistance of advanced technologies are some of the major drivers for the development of the service management industry. The number of field technicians employed worldwide has already surpassed the 20 million level and is expected to continue to rise over the forecast period. Hence with the increasing number of field service technicians market for field service management is expected to rise in the forecast period.
Key Takeaways
By Component - Segment Analysis
The category of services is likely to grow even faster than the segment of solutions. Field service management services have a broad range of uses, varying from customer support for products delivery, policy and execution to business needs. Field resources support companies connect legacy systems to modern applications and carry out preparation and deployment research so that consumers can concentrate on their core business. This has created opportunities for vendors to provide services to businesses in different industries and help them deal with challenges when configuring solutions for field service management.
By Deployment Mode - Segment Analysis
The cloud distribution method is expected to grow faster in this sector at 22.9% due to its easy, flexible, inexpensive and scalable characteristics, as it is quickly implemented by different companies. The cost of installing cloud-based field service management tools is however smaller than on-site applications. It also provides the highest level of security and reliability of the tests. As the installation costs for cloud-based field service management solutions are smaller than the on-site solutions, they face higher adoption.
By Vertical Outlook
The manufacturing sector dominated the global market in 2019 on the basis of vertical production and is expected to rise in the forecast period. Field service approaches enable manufacturing companies to reliable, productive and error-free their business operations. This helps companies to increase the quality of their products and services to help reduce the time, effort and cost of producing products and service delivery. The rapid growth in small and medium-sized company adoption of these solutions is projected to further fuel market growth over the forecast period. Field service management is an important investment sector for manufacturers as they try to adapt to the customer-centred market. Manufacturers are planning to buy, update or boost their service delivery applications in the coming year and field service management systems are one of the key components of service delivery.
Geography - Segment Analysis
Field Service Management technology market is dominated by North America, North America has the largest market share with 36.8%, as the country is a major hub for technological innovation and an early adopter of new technologies. Organizations in the area are focused on providing consumers with the best-in-class facilities, ensuring that their field technicians access the right information and tools at the right time to solve consumer problems. Higher internet penetration, communication devices, and mobile phones also significantly changed consumer preferences purchasing behaviour. Organizations implement creative field service management systems to satisfy customer needs. The participation of major players in the region often fosters competition and appreciation of the benefits gained through the implementation of field service management solutions.
Drivers – Field Service Management Market
- Increased accessibility demands for real-time exposure
It was almost impossible to run a field service company remotely a decade ago. Nowadays, smartphones and tablets make this a reality. The real-time tracking of the progress of field service technicians not only encourages the immediate deployment of the closest technician to solve a problem, but also empowers such technicians with the necessary information to solve the problem of the consumer at the first encounter. Technicians may restore a system remotely or update new software without having to visit the site utilizing field service management technologies enabled by mobility. At the edge of the client, real-time insight into the activity of the technician provides certainty of assistance arriving at the expected time. The introduction of field service technologies powered by connectivity thus lets service organizations make better business decisions, gain better control of field operations and provide timely services to customers.
Challenges –Field Service Management Market
- Safety concerns pertaining to data security-
It is very difficult for field service organizations to select the right approach from the pool of alternatives that can meet their particular business needs and thus stay professional in an extremely complex and highly competitive setting. There is no clear way of determining a field service solution's strengths or operation quality. Organizations are very cautious of their results, as data loss may cost the company a considerable amount and can tarnish the organization's brand image. Therefore, if the approach applied failed to address any of the criteria, it would impact the day-to-day field operations of businesses and the efficiency of their employees, which could contribute to further capital losses.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Field Service Management market. In 2019, the market of Field Service Management market has been consolidated by the top players - Oracle (US); Microsoft (US); IFS (Sweden); ClickSoftware (US); ServiceMax (US); Astea (US); Comarch (Poland); SAP (Germany); Salesforce (US); Trimble (US); Infor (US); OverIT (Italy); ServicePower (US); FieldAware (US); GEOCONCEPT (France); FieldEZ (India), Zinier (US), Glidesys Technologies, SAS Institute, Teradata, Tibco, Adobe, Cisco, IBM, Sisense, Astea, Comarch
Launches/Acquisitions
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Flavors and Fragrances Market size in 2019 is $28 billion and is growing with a CAGR of 6.2% during the forecast period 2020-2025. Increasing demand for flavor ingredients across food and beverage applications is driving the market. Natural flavor and fragrance ingredients are derived from spices, herbs or other naturally available crops through a process of extraction either solvent-based or supercritical. In addition, the use of flavors in bakery and confectionary to produce aroma is further propelling the market during the forecast period 2020-2025
Food and Beverage Disinfection Marketis estimated to reach revenue of $155 billion by 2019, growing at a CAGR of 4% during the forecast period 2020-2025. Food disinfection is the process by which bacteria are killed so that their count is reduced to a level that is neither injurious to health nor to the class of fresh goods. Sterilization is reflected to be the primary process for the destruction of pathogenic creatures to prevent the spread of waterborne illnesses. Disinfection helps to prevent confectionary products such as bun, cakes, and sweets by protecting the products from bacterial growth. A UV disinfection system transmits electromagnetic energy from a mercury arc lamp to an organism’s genetic substance. Growing occurrence of foodborne diseases and rising concern over food safety are the major factors driving the growth of the market. Furthermore, rising awareness on food safety along with the focus on managing food quality as well as increasing consumption of healthy foods is set to further enhance the demand of food and beverage disinfection.
Gate All Around FET (GAA FET) Technology Market is forecast to reach $203 million by 2025, growing at a CAGR of 39.5% from 2020 to 2025. The demand for GAA FETs over FINFET Technology is rising due to the claims of overcoming drawbacks of FINFETs like minimization of energy loss, increase in durability and efficiency. As the GAA FETs have been able to successfully eliminate some of the drawbacks of FINFET technology, it is expected that GAA FETs can turn out to be a major competitor for FINFET in the future. Furthermore, development towards nano-scale technology is a major driver in fueling the market growth and thus, becoming a great alternative for FINFETs.
The Global for Gate All Around FET (GAA FET) Technology Market is forecast to reach $203 million by 2025, growing at a CAGR of 39.5% from 2020 to 2025. The demand for GAA FETs over FINFET Technology is rising due to the claims of overcoming drawbacks of FINFETs like minimization of energy loss, increase in durability and efficiency. As the GAA FETs have been able to successfully eliminate some of the drawbacks of FINFET technology, it is expected that GAA FETs can turn out to be a major competitor for FINFET in the future. Furthermore, development towards nano-scale technology is a major driver in fueling the market growth and thus, becoming a great alternative for FINFETs.
Key Takeaways
Technology- Segment Analysis
GAA FETs are seen emerging as a replacement for traditional FIN FETs due to their better performance computing and easy accommodation of more devices on the same piece of silicon. gate-all-around FETs are emerging as the successors to FINFETs for extremely scaled process nodes. For overcoming the limitations of 5nm FIN FETs, 3 nm GAA FET is to be used further which offers performance gains and energy efficiency. This 3 nm requires an evolution of new technologies like nanosheets and nanowires. According to IBM, the industry had gradually merged upon horizontally stacked nanosheets as the alternative for 5nm generation. GAA looks like alternate layers of silicon and SiGe are patterned into pillars.
Application - Segment Analysis
GAA FET technology is the latest technology expected to be widely used in place of FINFETs in the upcoming years. GAA FET Technology has various applications which makes it more popular than FINFETs. GAA FETs are used in consumer electronics devices such as smartphones, televisions, computers and many others. They are used for industrial purpose like semiconductor or chip designing companies. Designing ICs using GAA FET technology is a major application in the semiconductor industry. They can be used as Electronic switches for power management, low voltage switches (less than 200 V), which can be used in power-saving devices such as inverters. Different GAA FETs applications are used in smart devices that enhance the performance of the processor within them. The rising demand of the consumer electronics sector is expected to provide more opportunities in the coming years for GAA FET market.
Geography - Segment Analysis
The Gate all around FET technology market in APAC is expected to grow at 42.1% prior to the forecast period. The analysis shows that the Global GAA FET technology market will have a huge substantial growth in market share followed by Europe and North America. Various factors like high investments in Research and development activities and adoption of GAA FET technology in electric vehicles are expected to mark major growth in the APAC market over the forecast period. Toshiba Corporation and Renesas Electronics Corporation are the major key players in the APAC region which make the market growth due to increased competition across this region.
Drivers – GAA FET Technology Market
- Growth in Nanotechnology
The rising demand for Nanotechnology has made a positive impact on GAA FET market growth. Gate all around (GAA) FETs have variants like Nan sheet FETs, Nanowire FETs, hexagonal FETs, Nano-ring FETs and Nano slab FETs. This nanotechnology-based design helps to provide a compact design and also claims that it can fit in about 30 Billion transistors on the chip using GAA FET technology on a 50 mm² chip.
- Improvement in performance
GAA FETs share a major difference with FINFETs design as in GAA FETs, the channel region is surrounded with gate material from all the sides. The design structure gives a much more efficient transistor design and helps in a tremendous jump in performance per watt over a 5 nm FINFET process. This implies that GAA FETs provide better performance results than FINFETs ensuring more efficiency and durability. This factor is considered to be a major driver for the market growth of GAA FET technology.
Challenges – GAA FET Technology Market
- Higher fabrication cost
The major challenge for GAA FET technology is the high cost of fabrication, which essentially hampers market growth. As per IBM says, the chip uses EUV (Extreme Ultra Violet) lithography for the first time for front line patterning thus making it expensive. The fabrication process leads to the production of semiconductor devices used in integrated circuits. Fabrication of GAA FET makes use of advanced processes which are expensive, thus indirectly hindering the market growth of GAA FET.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the GAA FET Technology market. GAA FET Technology market is expected to be dominated by major companies such as Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, ABB Group, Toshiba Corporation, Fairchild Semiconductor, Digi-key Electronics, STMicroelectronics, IXYS Corporation, Power Integrations and among others.
Acquisitions/Technology Launches
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