The current capabilities of systems pertaining to video surveillance are inclusive of capabilities that go beyond surveillance and increasing involves gathering and analysis of data, which has profound consequences affecting the efficacy of video surveillance and the way it is being deployed, maintained as well as the kind of technology integration and the pace at which the video surveillance systems undergoing. Further, the scope of cross-functional video applications, enhanced technology, improved cybersecurity, integrations, and video surveillance as a service, among others will in part facilitate the growth of the market.
Further, the drivers for demand are not only restricted to loss prevention measures that are increasingly being sought after by both public and private entities but also has emerged as one of the salient considerations of improving productivity. Additionally, the conceptual framework of the Internet of things (IoT) that seeks to embed intelligence and connectivity with a myriad of devices would necessitate the use of video surveillance data. Further, the proliferation of off-site cloud-based infrastructural facilities for storing video surveillance-related data is, as well as required the integration of video surveillance among others, expected to augment the growth of the market.
Final Consumption Expenditure of Households by Consumption Purpose, Restaurant and Hotels
Source: EUROSTAT
In Millions of Euro at Current Price (Eu-28 Countries)
Investment in construction is one of the core drivers that is anticipated to propel the growth of the market to stratospheric height, albeit experiencing a hiatus due to lockdown measures necessitated by COVID 19
With respect to the European Union (EU), the tourism sector reportedly contributed approx. 10% to EU GDP concomitantly making EU the world’s leading tourism destination, with 563 million international arrivals and 30% of global receipts in 2018. Furthermore, digital innovation, a strong economy, and rising global consumer purchasing power, and have collectively contributed to record growth in the travel and hospitality industry. Additionally, as an EU export category Tourism is the fourth largest and results in spill-over benefits to the European economy as a whole, where the generation of 1 EUR of value added by tourism results in an additional 56 cent of value-added in indirect effect on other industries. Moreover, 64% of EU residents reportedly made at least one personal tourism trip in 2018. In the same year, it was recorded that EU Residents made 1.1 billion trips with overnight stays, wherein 7 out of 10 trips are being spent in their own country of residence.
Moreover, Europeans stayed on average 1 week when visiting other EU countries in 2018. Despite the industry coming to a halt during the pandemic, certain major hotel chains have reported plans to expand their physical presence in the immediate future. For example, French hospitality group Accor had reportedly announced the opening of 50 hotels under various brands in Romania, with 7 new properties in 2020 itself. Currently, the group operated 6 hotels in Romania under the ibis, Mercure, Novotel, and Pullman brands. It is important to note that activities pertaining to tourism are salient contributors to the social fabric of many nations, along with the economic ones, which makes it the strategic imperative to keep a generous provision in security and loss prevention measures of the various hospitality groups which are operating in this space. Therefore, creating a demand for more video surveillance systems installations that will in turn augment the anticipated growth of the video surveillance market in the coming few years.
Expenditureon Public Order & Safety, P.R.China, Mainland
Source: IMF
% of Total Expenditure
Emerging economies like that of Peoples Republic of China are expected to strengthen the video surveillance market growth
Words like deep learning and AI are no longer buzzwords in emerging economies like China. The government's expenditure on public safety saw the most sales of deep learning cameras with the police departments as their customers. With an increasing number of semiconductor players in the market are influencing pricing pressure at chip-level, which themselves major components of the price structure of these kinds of cameras. On the other had a Vietnam based leading technology corporation had launched its new brand called AI View Surveillance Camera that marks the company’s entry into surveillance camera manufacturing. It’s the first company to successfully integrate AI into surveillance cameras. Further, to prevent COVID 19 a world-class AI company with core competencies in deep learning the Beijing based Megvii Technology Limited had reportedly announced that in April 2020, the companies AI-enabled temperature screening solution, which can detect the forehead of incoming customers and check their temperature within a distance of 0.3 meters to one meter within half a second, with an accuracy level of ±0.3?, have been deployed in 191 supermarkets across Beijing, inclusive of Chaoshifa and Wumart.
The current pandemic of COVID 19 is further expected to contribute to the growth of the video surveillance market
The ICT industry and emergencies are complementary to each other which was exemplified by the installation of the first CCTV system by Siemens AG in 1942 in Peenemunde, Germany during the second world war to observe the launch of V2 rockets. From that point on CCTVs have undergone a variety of changes and remains the most trusted means of surveillance even though suffering a brief setback in sectors pertaining to aviation, retail, travel, and tourism due to lockdown measures in the first quarter of 2020. Nevertheless, as the nation across the globe is resuming their economic activities that will lead to a growth in critical infrastructure segments, data centers, healthcare, IT/ITes, and manufacturing, will necessitate the need for on-premise video surveillance systems for the constant monitoring of body temperatures. To this end, there have been quite a few developments that, – a recent one is that of a reported launch in June 2020 of a product called COVIDSHIELD that has been launch by an Indian online video analytics firm called Vidooly Media Tech Pvt. offering five AI-enabled hybrid surveillance solutions enabling organizations to detect and track any Covid-19 violations as a preventive measure. The solution comprises CCTV cameras, Face ID, a movement detector, RFID technology, thermal scanners, among others, whereby, complete contact-free surveillance through actionable information is extended.
Safety Switches Market Trend – Preventing Accidents & Fostering Growth
Thought ArticlesThe increasing rate of construction projects, manufacturing activities, stringent adherence to government regulations leading investments in safety measures to prevent any unforeseen accidents rapid growth rate of the conurbation and increasing inclination towards smart industries are some of the factors which are central to an anticipated meteoric rise of the safety switches market.
Delving further into the aspects pertaining to industries, one of the major drivers that are estimated to bolster the growth of the safety switches market is the growing adoption of automation in operation which is otherwise hazardous for humans. Additionally, to ensure a seamless accident-free operation that will ensure the safety of human lives and uninterrupted revenue stream various industries are embracing automation to transition into smart industries. Safety switches are also integral to residential electric wiring to prevent any accidents.
Industry (Including Construction), Value Added (% of GDP)
Source: WORLD BANK
Industries are the lifeline of the global economy and oil and gas and chemicals occupy an important core of the lifeline sustaining the world. Since the price crash of 2014, the consumption fuels globally have grown rapidly further with US shale gas growth the energy mix has expanded as well. There is also a steady demand for refined products thus influencing global oil production. Moreover, despite the supply disruption witnessed during mid-September 2019 which was reportedly the single largest disruption of supply since the gulf war, the prices rapidly reverted to then normal trading range. Even economic sanction against Venezuela, as well as the continuous degradation of operating conditions of and investments in the country’s oil sector, are being offset by producers located in the occident mainly Brazil, the USA with their onshore shale plays and deep-water plays which comprise of health proportion of crude oil, condensates, and NGLs. Further, the Canadian oil sands also can deliver a greater number of quantities from its current operations. Above all the agreement between non-OPEC and OPEC countries on production restraint is still in place that ensures spare production capacity to cater to tight market conditions should the need arises.
Moreover, closely tied with construction and automotive industries, activities pertaining to chemicals globally are still sustained albeit lower consumer spending on new automobiles due to the spending being redirected towards rideshare services, and used cars and electric vehicles (EVs). This makes the chemical industries strategic imperative to invest in opportunities by tapping into niche markets facilitating new growth avenues and endeavor to derive relatively more from their existing assets. This necessitates investing more in innovation to bring about new products, technologically integrated manufacturing, and processing methods. On the other hand, digital technologies have played an important role in the growth of the industries not only operating the aforesaid bit also other sectors as well.
Artificial intelligence-based solutions offered by technology firms are helping many organizations create a safe working environment which facilitates the tracking of worker behavior and prevent accidents in real-time. Further, as a result of the current pandemic, the anticipated delays in construction can lead to possible injudicious use of both human and material resources. In this scenario, the capability that a digital supply network (DSN) can help organizations adapt to their new project timelines without incurring a loss. Thus, along with the continued operation, anticipated growth prospective opportunities, as well as strict compliance with government regulation to ensure occupational safety, the safety switch market growth the safety switches market is expected to witness a meteoric growth in the next few years. To this end, it should be noted that the UK based Kraus Naimer had reportedly launched ATEX approved safety switches with IP66 protection for hazardous areas, in September 2019.
Rural population (% of total population)
Source: World Bank
Another Factor That Is Poised to Drive the Safety Switches Market Is Rapid Urbanization
The constant growth in population, as well as the steady flow of influx in urban areas, is leading to an expansion of cities leading to infrastructural development, more scope of industrial expansion because of availability of labor as well as increasing share of demands from a new pool of migrants who aspires to embrace the city lifestyle which also in part due to the availability of relatively more disposable income. In this regard, 55% the global population lived in the city in 2018 and the rural areas were home to 45% of the population that is anticipated to reduce by 40% in 2030. Additionally, the percentage of world population that is projected to live in urban areas according to UN was 68%. North America is a more urbanized region of the word with 82% of its population living in urban areas. China, Nigeria, and India are together expected to account for 35% of the growth of the world’s urban population between 2018 and 2050, with India being projected to add 416 million urban residents, China 255 million urban residents, and Nigeria 189 million urban residents. Also, it is estimated that by 2030 the world will have 43 megacities.
Thus, from the aforementioned, it is evident that with a higher number of construction projects in the coming years the semiconductor industry will experience unprecedented demand for safety switches. Few of the planned construction projects in 2020 are inclusive of but not limited to the January announcement of Piramal Group’s, the real estate arm Piramal Realty reported plan to invest Rs 1,500 crore to facilitate the development of a residential project in Thane, which is intended for consumers who are on a specific budget by offering smaller configurations. Further, in July 2020, it was announced that a property developer Naim Holdings Bhd will invest around RM30mil Miri, the second-largest city in Sarawak, Malaysia with a rationale to accelerate the development of affordable and intelligent houses in major towns. Again, in July 2002, Keppel Corp had announced that around RMB 1.5 billion ($213.7 million) will be invested by its Alpha Data Centre Fund toward the development of a greenfield data center in Guangdong province of China which will be marking its first foray into mainland china’s growing data center industry.
Video Surveillance Market Trend – Transitioning From Preventive to Predidictev Security
Thought ArticlesThe current capabilities of systems pertaining to video surveillance are inclusive of capabilities that go beyond surveillance and increasing involves gathering and analysis of data, which has profound consequences affecting the efficacy of video surveillance and the way it is being deployed, maintained as well as the kind of technology integration and the pace at which the video surveillance systems undergoing. Further, the scope of cross-functional video applications, enhanced technology, improved cybersecurity, integrations, and video surveillance as a service, among others will in part facilitate the growth of the market.
Further, the drivers for demand are not only restricted to loss prevention measures that are increasingly being sought after by both public and private entities but also has emerged as one of the salient considerations of improving productivity. Additionally, the conceptual framework of the Internet of things (IoT) that seeks to embed intelligence and connectivity with a myriad of devices would necessitate the use of video surveillance data. Further, the proliferation of off-site cloud-based infrastructural facilities for storing video surveillance-related data is, as well as required the integration of video surveillance among others, expected to augment the growth of the market.
Final Consumption Expenditure of Households by Consumption Purpose, Restaurant and Hotels
Source: EUROSTAT
In Millions of Euro at Current Price (Eu-28 Countries)
Investment in construction is one of the core drivers that is anticipated to propel the growth of the market to stratospheric height, albeit experiencing a hiatus due to lockdown measures necessitated by COVID 19
With respect to the European Union (EU), the tourism sector reportedly contributed approx. 10% to EU GDP concomitantly making EU the world’s leading tourism destination, with 563 million international arrivals and 30% of global receipts in 2018. Furthermore, digital innovation, a strong economy, and rising global consumer purchasing power, and have collectively contributed to record growth in the travel and hospitality industry. Additionally, as an EU export category Tourism is the fourth largest and results in spill-over benefits to the European economy as a whole, where the generation of 1 EUR of value added by tourism results in an additional 56 cent of value-added in indirect effect on other industries. Moreover, 64% of EU residents reportedly made at least one personal tourism trip in 2018. In the same year, it was recorded that EU Residents made 1.1 billion trips with overnight stays, wherein 7 out of 10 trips are being spent in their own country of residence.
Moreover, Europeans stayed on average 1 week when visiting other EU countries in 2018. Despite the industry coming to a halt during the pandemic, certain major hotel chains have reported plans to expand their physical presence in the immediate future. For example, French hospitality group Accor had reportedly announced the opening of 50 hotels under various brands in Romania, with 7 new properties in 2020 itself. Currently, the group operated 6 hotels in Romania under the ibis, Mercure, Novotel, and Pullman brands. It is important to note that activities pertaining to tourism are salient contributors to the social fabric of many nations, along with the economic ones, which makes it the strategic imperative to keep a generous provision in security and loss prevention measures of the various hospitality groups which are operating in this space. Therefore, creating a demand for more video surveillance systems installations that will in turn augment the anticipated growth of the video surveillance market in the coming few years.
Expenditureon Public Order & Safety, P.R.China, Mainland
Source: IMF
% of Total Expenditure
Emerging economies like that of Peoples Republic of China are expected to strengthen the video surveillance market growth
Words like deep learning and AI are no longer buzzwords in emerging economies like China. The government's expenditure on public safety saw the most sales of deep learning cameras with the police departments as their customers. With an increasing number of semiconductor players in the market are influencing pricing pressure at chip-level, which themselves major components of the price structure of these kinds of cameras. On the other had a Vietnam based leading technology corporation had launched its new brand called AI View Surveillance Camera that marks the company’s entry into surveillance camera manufacturing. It’s the first company to successfully integrate AI into surveillance cameras. Further, to prevent COVID 19 a world-class AI company with core competencies in deep learning the Beijing based Megvii Technology Limited had reportedly announced that in April 2020, the companies AI-enabled temperature screening solution, which can detect the forehead of incoming customers and check their temperature within a distance of 0.3 meters to one meter within half a second, with an accuracy level of ±0.3?, have been deployed in 191 supermarkets across Beijing, inclusive of Chaoshifa and Wumart.
The current pandemic of COVID 19 is further expected to contribute to the growth of the video surveillance market
The ICT industry and emergencies are complementary to each other which was exemplified by the installation of the first CCTV system by Siemens AG in 1942 in Peenemunde, Germany during the second world war to observe the launch of V2 rockets. From that point on CCTVs have undergone a variety of changes and remains the most trusted means of surveillance even though suffering a brief setback in sectors pertaining to aviation, retail, travel, and tourism due to lockdown measures in the first quarter of 2020. Nevertheless, as the nation across the globe is resuming their economic activities that will lead to a growth in critical infrastructure segments, data centers, healthcare, IT/ITes, and manufacturing, will necessitate the need for on-premise video surveillance systems for the constant monitoring of body temperatures. To this end, there have been quite a few developments that, – a recent one is that of a reported launch in June 2020 of a product called COVIDSHIELD that has been launch by an Indian online video analytics firm called Vidooly Media Tech Pvt. offering five AI-enabled hybrid surveillance solutions enabling organizations to detect and track any Covid-19 violations as a preventive measure. The solution comprises CCTV cameras, Face ID, a movement detector, RFID technology, thermal scanners, among others, whereby, complete contact-free surveillance through actionable information is extended.
Wearable Sensors – A Promising Technology
BlogWearable sensing technology experienced a transformation from imagination to the development of a wide range of products specifically in the field of consumer electronics and healthcare. This explosion of wearable sensors can be credited to factors like increasing demand for miniaturized real-time health monitoring devices along with an increasing consumer health awareness. In addition, the outbreak of smartphones and connected devices coupled with the growing demand from medical professionals to obtain constant data from their patients is further putting an impact on the wearable sensors market growth.
Wearable sensors utility has been mainly realized for varied medical applications where by monitoring a patient’s real-time data can help doctors to effectively plan out the treatment and hence this may result in a timely cure of the disease. Thus, improving the patient’s quality of life and contributing to longevity. One of the major applications lies in the disease management of the elderly patients where through the use of wearable technology, the healthcare costs can be reduced to a greater extent. The emerging trend of Ambient Assistive Living (AAL) has led to the combination of the social environments with the state-of-the-art technology for improving the quality of life of the occupants. Several research activities are going on for the enhancement and enabling of the utilization of assistive technologies within the home environment. The collection of such technologies is referred to Ambient Intelligence (AAL) that is focused on providing support to people through enabling them to attain their day-to-day objectives. AAL is not only related to the integration of technologies like sensors and associated domains such as computer science and engineering among others, but it also focusses on the implementation of such technologies. Hence, the growing geriatric population along with the increasing demand for remote health monitoring are the driving factors responsible for the rapid growth of the wearable sensors market.
Population Ages 65 Years and Above, Male, 2014-2019
Source: The World Bank Group
Population Ages 65 Years and Above, Female, 2014-2019
Source: The World Bank Group
Flexible Wearable Biosensors and Bioelectronic Tattoos
Flexible wearable sensors are utilized for the measurement of symptoms that are motor-related and include balance and gait symptoms among others. The development of patient-friendly sensors can be placed on knees and legs and this further allows the development of digital biomarker systems that would help in continuous monitoring of a patient’s activity and thus, contribute to enhancing patient care. Flexible wearable sensors in the form of bioelectronic tattoos contain ultrathin sensors that can be easily adjusted onto the human body and report to a cloud-based software system in order to provide user access for securing real-time important physiological data. These new-age wearable sensors require a range of clinical studies for gaining an in-depth analysis and understanding of varied real-world applications. The growing adoption of cloud-based platform is further augmenting the wearable sensors market growth at present and in the near future. Cloud environments have helped in lowering the barriers for innovation and modernization of the Information technology systems and applications. Cloud computing provides a collaborative IT platform for facilitating information sharing, knowledge management and predictive analytics throughout the healthcare ecosystem, thus, enable cross-industry services. The growing focus on preventive healthcare will further allow the adoption of wearable technologies resulting in greater engagement with patients for providing better post-treatment care and community-based healthcare.
The versatility of polymers has led to designing of wearables in the form of smart textiles, smart watches, smart glasses, and wrist bands. Polymers in the form of gels, liquid crystal polymers, and elastomers have extended the functionality of wearable sensors into patch-like sensors or tattoo-like sensors. The first wearable sensor developed in 1980 was in the form of chest strap wireless electrocardiography. The product revealed the importance of flexibility in a wireless sensor and thus the use of flexible material like a polymer was considered significant, particularly as a substrate.
Types of polymers along with their applications in wearable sensors are listed below:
TYPE
APPLICATION
Liquid Crystalline Polymers (LCP)
Used in the form of substrate when cooled to anisotropic solid.
Polymer Gels
An active material induced by chemical, thermal, electrical changes from the body or can be utilized as an electrode, for example, ionic gels.
Intrinsically Conducting Polymers
As an active material to be utilized as an electrode in an electrochemical sensor or as an organic semiconductor in transistor-based sensors.
Polymer Composites
Active material to be utilized as electrode or stimulus-response polymer in resistance-based sensors.
Piezoelectric Polymer
Used as active materials as pressure sensor like polyvinylidene fluoride, PVDF, and polylactic acid, PLA.
Elastomers
Used as active material like dielectric elastomers, and as substrate, for example, silicon rubber.
Thermoplastic Polymers
Used as a substrate
Thermosetting Polymers
Used as a substrate
Wearables in Sports Industry
Companies through their continuous innovation strategy have developed a number of sports wearables. These solutions are capable of converting raw data utilizing embedded algorithms that can be used for providing real-time information about an athlete’s parameters and thus contribute to enhancing performance. This information is highly useful in providing accurate instant feedback regarding posture, instant training load, and other essential information for training and optimization of performance. For example, a swim sensor by 2M Engineering for professional swimmers can provide ECG and motion recognition through monitoring heart rate and motion. The ECG signal forms the basis of the reliable heart rate and heart rate variability measurements while swimming. On the other hand, the motion sensor is utilized for the extraction of varied swim features such as stroke frequency, lap time, stroke type, and instantaneous speed. The real-time information can be sent to the coach on their smartphone devices. Hence, the trainer is provided with the performance overview of the swimmer.
The introduction of the world’s first smart earring by Ear-O-Smart, BioSensive Technologies Inc. Joule smart earring is designed especially for women for monitoring heart rate, activity tracker, and number of calories burned in a day. The wearable device is a unique combination of fashion and technology and utilizes a Bluetooth 4.0 wireless technology where the device syncs with the smartphone and allows the monitoring of a wide range of fitness data through Android and iOS applications. Such innovations are further contributing to fueling market growth.
Global Protective Clothing Market Trend – Fundamental to Workers’ Safety
BlogThe market for protective clothing is expected to be catapulted to stratospheric heights for being inseverable from operations of a wide range of major industries that include chemical, construction, manufacturing, oil, and gas, as well as healthcare, has given the current scenario of the COVID 19 pandemic. The rising awareness and the need for preventing accidents and fatalities at the workplace are central to the growth of the protective clothing market. Further, the increasing investments in R&D to bring about enhanced cutting-edge products which are also preferred by industries of aerospace and defense is another factor that is expected to drive the growth of a variety of protective clothing.
Further, the strict policies that have been institutionalized by various national governments as well as the multilateral agreements on workers’ health and safety, which are being increasingly put in place in emerging economies that mandates the apex leadership of various industries around the world to ensure that their loss prevention measures adequately extend to the core of their brigade: the staff. With regards to the staff, it should be noted that the increasing working population around the world owing to profusion of investments in a variety of endeavors of construction, manufacturing, processing, energy, pharma, pathology, border security, earth sciences and so on are also facilitating the growth of the protective clothing market. Also, the increasing availability of lightweight protective clothing with greater chemical, fire, and wear and tear resistance is an enticing factor that is spurring more engagement amongst the players engaged in protective clothing production.
Global Annual Petroleum and Other Liquids Production (Thousand Barrels per Day)
Source: U.S. Energy Information Administration
The Oil and Gas Industries Are Poised to Propel the Market of Protective Clothing in the Next Few Years
As of 2018, and as per the United Nations (UN), oil comprised 37% share of primary energy. While consumption of coal globally is poised to phase off the demand for oil demand will continue to grow owing to the rising demand for fuel which is derived from crude oil that finds its application in aviation, long-distance freight, petrochemicals, and shipping. Despite the proliferation of alternative energy sources like wind farms in certain developed economies, the offshore segment is gaining traction due to available expertise and infrastructure in offshore oil extraction. Moreover, global oil companies on average hold 13 years of reserves at current rates of production in assets. Conversely, approx.25 countries around the world have bonds that are substantiated by an expectation of extractable reserve spanning over years that range from 25 through 50 to 100 years. Consequently, leading to investments in various oil exploration projects and downstream processes, which necessitates the unquestionable incorporation of the protective clothing, thereby driving the market for the same.
A few prominent and recent projects illuminating the aforesaid to a greater degree are: as of May 2020, the U.S. Federal Energy Regulatory Commission (FERC) has reportedly approved the construction and operation of the Alaska LNG project estimated at US$43 billion, and has granted the authorization for liquefication and exportation of LNG liquefied natural gas from the North Slope to an export facility in Nikiski, Alaska to an independent, public corporation of the State of Alaska, Alaska Gasoline Development Corporation (AGDC). The other, as of April 2020, with a revised capital investment for 2020, which is to the tune of $23 billion (15% decrease from earlier $33 billion) the Rovuma LNG project in Mozambique is expected see scheduled start in 2025, which is a project with a total LNG nameplate capacity of 15.2 mtpa.
With respect to the type of protective clothing, there has been a trend of product innovation in recent years with the rationale of ensuring both safety and comfort for the wearer.
The automation industry is witnessing a series of launches that substantiat the importance of such clothing as well as reaffirms the variety of applications that caters to. In July 2020, Carrington Textiles announced NFPA 2112 certification for its fabrics that are flame retardant and reengineered in response to customers who wish to offer protection against chemical splash, electric arc, electrostatic discharge, flash fire, ultraviolet radiation concomitantly comfort with the reportedly strikingly low average percentage of body burn. The product has been made commercially available with impressive colorfastness, industrially launderable guarantee, shade consistency, wash shrinkage, and in a variety of weights. In October 2019, it was announced that Lakeland Industries, Inc. has reportedly launched a new line of apparel that is characteristically mid-weight and has high visibility intend to be used by electrical utility professionals that offer the most important aspect that is safe with the added benefit of comfortable stretch that features permanent moisture-wicking technology. In November 2019, Virgin Galactic reportedly unveiled space suits which have been made out of fire retardant Nomex, with the capability of being tailored to fit and is intended for its private astronaut aboard its SpaceShipTwo.
Again, in the same year in September, a leading industrial thread company Coats was reported to launch a product called FlamePro Splash Protect that is engineered to be soft, flexible lightweight concomitantly ensuring durability thereby providing along with lasting wear. Further, the product has been designed with the rationale to incorporate thermal resistant and metal shedding properties that can protect against flame, metal molten splash, radiant heat, and other smelting hazards. It is also reportedly to withstand molten aluminum at a temperature of up to 760 degrees centigrade. Earlier, in February 2018, a knitted cut resistant fabric was reportedly launched with a pH value that is similar to that of water, making it extremely low-risk skin irritation. It's variant in black that was launched in March 2020, reportedly offer cut resistance level E and level 5 based on the previous EN 388:2003 standard, which is EN 388:2016. The year 2018 also marked joint technology and commercial partnership for Australasia and Southeast Asia markets announced between Westex™ by Milliken™, which is a leading US-based flame retardant textiles brand and Teijin Aramid which is a globally renowned producer of aramid fiber with the rationale to improve the renowned FR solutions in the Asian market based on aramid.
Carbon Nanotubes – Emergence of Nanotechnology
Thought ArticlesCarbon nanotubes are molecular-scale structures in which the atoms of carbon are arranged in one or more cylindrical forms. These structures have high tensile strength and they offer high electrical and thermal conductivity. Additionally, carbon nanotubes also have the ability to withstand extremely high temperatures.
The market for carbon nanotube is projected to witness healthy growth over the course of the next five years. The major factors supporting the fast growth of the market include the constant increase in the adoption of carbon nanotubes for various applications such as ICs, batteries, solar PV cells, and fuel cells among others. Moreover, burgeoning applications of carbon nanotubes in polymers for the improvement of its strength and weight is also expected to augment the market growth during the next five years. These structures also have applications in the construction industry as they can be incorporated in cement-based materials to enhance its behavior further helping in the reduction of deformation. Furthermore, the constantly growing energy demand has led the governments of several countries to incline their focus in new energy investments, especially in wind energy is further anticipated to widen up the opportunities for the manufacturers over the next five years as CNTs are one of the most essential elements used in turbine manufacturing. However, factors such as high production costs coupled with the availability of substitutes are considered to be some of the major factors expected to hamper the global carbon nanotube market growth to some extent during the next five years. The graph below represents the global carbon nanotube market size.
Global Carbon Nanotube Market, Forecasts From 2019-2025, in US$ Billion
Source: Knowledge Sourcing Intelligence Estimates
Growing Focus on Renewable Energy
The major factor supplementing the market growth during the next five years includes the growing focus of the governments of several countries towards inclining their focus on the renewable energy sector. Carbon nanotubes are widely adopted in solar panels as well as there is growing acceptance of carbon nanotubes in turbine manufacturing for improving the performance and to be used in the anti-icing systems of turbines. Thus, the growing investments in solar and wind energy globally will directly drive the market growth for carbon nanotubes throughout the forecast period. Moreover, supportive government policies and initiatives in major developing countries are further augmenting the demand for rooftop solar systems in both the residential and the commercial sectors, which is further expected to positively impact the market growth during the next five years. Also, the governments of various countries are taking necessary steps to reduce their dependence on fossil fuels as the costs of fossil fuels is growing is further augmenting the adoption of renewable energy in many countries. Moreover, turbine manufacturing is increasing in many countries on account of growing domestic and foreign demand which is further projected to augment the demand for carbon nanotubes for the manufacturing of the turbine blades and is anticipated to drive the market growth significantly. For instance, in March 2018, General Electric Renewable Energy announced its plans in March 2018 to develop the largest and most powerful offshore wind turbine ‘the Haliade-X’ in France. On the other hand, the generation of electricity from wind has increased significantly in the past years, especially in the developed economies, which is also providing an impetus for the market to grow over the forecast period. For instance, in the United States, the generation of electricity from wind energy reached 300 billion kWh by the year 2019 from 95 billion kWh in 2010 (Source: U.S Energy Information Administration).
Wind Electricity Energy Generation, the U.S, 2010-2018, in Billion kwh
Source: U.S Energy Information Administration
Segment Overview:
The global carbon nanotube market has been segmented on the basis of product type, application, and geography. On the basis of product type, the market has been segmented on the basis of single-walled carbon nanotubes and multi-walled carbon nanotubes. On the basis of application, the classification of the market has been done as chemical and energy, electronics and batteries, polymers, and others. Geographically, the global carbon nanotube market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
By product type, the single-carbon nanotube segment is anticipated to witness healthy growth throughout the course of the next five years. These consist of nanoscale structure which offers superior thermal, electric conductivity properties, and optical properties. All these properties have led to an increase in the adoption of single-walled carbon nanotubes in various applications that include solar panels, coatings, and displays among others. The multi-walled carbon nanotube segment is projected to hold a substantial market share throughout the forecast period on account of their wide applications in polymers as they enhance the tensile strength.
By application, the polymers segment is projected to hold a substantial share in the market throughout the course of the next five years. The major factors supporting the significant share of this segment is the wide application of carbon nanotubes as reinforcing materials due to its excellent mechanical properties such as high tensile strength and high elastic modulus. The growing demand for engineered polymers across the different industry verticals is a major factor augmenting the growth of this segment throughout the course of the next five years. However, the electronic and batteries segment is anticipated to grow at a healthy CAGR on account of the burgeoning applications in storage applications and electronic devices due to high electric conductivity as well as high resistance to temperatures.
Geographically, the Asia Pacific region is poised to hold a noteworthy market share throughout the forecast period. The presence of a well-established electronics manufacturing industry in countries like India, China, and Vietnam among others is a major factor bolstering the significant share of the APAC region throughout the next five years. Additionally, the presence of a well-established semiconductor industry in the region is further expected to drive the market growth. Moreover, the growing focus towards the adoption of renewable is also a key factor playing a significant role in shaping up the market growth in the APAC region.
Cresol – Essential Compound for Various Industries
BlogCresol is also known as hydroxytoluene, is a naturally occurring group of aromatic organic compounds. It is extracted from coal or can be manufactured synthetically also. The availability of this chemical in various forms further makes it suitable for a vast number of end-user industries. The figure below represents the market size of the global cresol markett, which shows the market is evaluated at US$643.780 million in the year 2019.
Global Cresol Market, Forecasts From 2019 to 2025, in US$Million
Source: Knowledge Sourcing Estimates
The market is poised to witness a steady growth throughout the course of the next five years due to the growing importance of cresol products across the different industry verticals. These chemicals are vastly used as intermediates to several other compounds such as pesticides, plastics, and disinfectants among others. The market is also projected to witness a decent growth on account of the inclined focus of many countries towards sustainable farming practices as the use of agrochemicals is expected to increase in the coming years. Cresols are also used as preservatives and stabilizers in various formulations of vaccines and insulins. Thus, the growing prevalence of diabetes and significant growth in the prevalence of various diseases is further expected to augment the use of insulin formulations and different vaccines, hence playing a significant role in shaping up the global cresol market growth throughout the course of the next five years. The booming chemical industry around the globe is a prime factor that is supplementing the market growth throughout the forecast period. Cresol is widely used as raw materials for chemical products that are used for manufacturing disinfectants, solvents, electronics, and others. Thus, the advent of COVID is also projected to augment the demand for disinfectants globally as the disease is highly communicable. Furthermore, the growing risk of hospital-acquired infections is also a major factor supplementing the growth of the global disinfectants market globally throughout the course of the next five years. Also, several industry regulations laid down by the various government bodies regarding the use of chemical substances is also a key factor playing a significant role in driving the use of cresol across various industries. For instance, there are several regulations by the United States Environmental Protection Agency, that regulate the use and offer proper information about this substance.
Rising Prevalence of Diabetes
The constantly growing prevalence of diabetes is playing a key role in driving the demand for cresol as m-cresol is and methyl p-hydroxybenzoate are used as preservatives in the preparation of insulins. These compounds offer stability to the formulations of insulins. The demand for insulin formulations have shown a significant increase as the number of people suffering from diabetes is constantly increasing. For instance, As per the data provided by the American Diabetes Association, 30.3 million Americans, that are 9.4% of the population, had diabetes. According to the recent report released by the Centers for Disease Control and Prevention (CDC), more than 100 million U.S. adults are suffering from diabetes or prediabetes. There has been a rise in the prevalence of diabetes among kids as well. Similarly, the constant growth in the burden of diabetes globally has also significantly increased the use of insulin for the treatment of diabetes. This can be backed up by the fact that there has been an increased usage of insulin delivery devices over the past years, which can be clearly seen from the estimates that the global market for insulin delivery devices has increased from US$11.231 billion in the year 2018 to US$16.874 billion by the year 2024 (Source: Knowledge Sourcing Intelligence Estimates).
Insulin Delivery Devices Market, Forecasts From 2018 to 2024, US$Billion
Source: Knowledge Sourcing Intelligence Estimates
The Globally Rising Consumer Electronic Industry
The global cresol market is poised to witness a growth throughout the forecast period on account of the constantly growing consumer electronic industry worldwide as these are being widely used in the encapsulation of electronic products. Thus, an increase in the demand for smartphones, laptops, wearables, and other devices play a significant role in driving the cresol market growth over the course of the next five years. The demand for cresol is projected to be directly impacted by a significant increase in the demand for various consumer electronics products as the improvements in the standards of living, urbanization and growing disposable income are some of the major factors bolstering the demand, especially in the developing economies such as India, Brazil, and China among others. Also, increasing household consumption expenditure is also expected to be a major factor that is poised to supplement the demand for electronic devices. For instance, as per the World Bank Group, the household’s and NPISHs Final consumption expenditure has grown remarkably from US$37.838 trillion in 2010 to US$48.611 trillion in 2018.
Segment Overview:
The global cresol market has been segmented on the basis of source, product type, application, and geography. On the basis of source, the market has been classified into natural and synthetic. On the basis of product type, the segmentation of the market has been done on the basis of o-cresol, m-cresol, and p-cresol. By application, the classification of the market has been done into herbicides, antiseptics and disinfectants, cleaning compounds, and others. Geographically, the market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
By application, the herbicides segment is expected to hold a decent amount of share in the market throughout the forecast period on account of the growing emphasis of various developed countries towards sustainable agriculture. The antiseptic and disinfectants segment is anticipated to show a healthy growth throughout the course of the next five years.
Geographically, the Asia Pacific region is expected to hold a considerable share in the market over the next five years due to the growing demand for agrochemicals in various countries coupled with the presence of a well-established electronic manufacturing sector in countries like India, China, Korea, and Vietnam among others. Furthermore, the presence of a well-established chemicals and materials industry in the region further supplement the cresol market growth in the APAC region during the next five years.
Shock Absorbers – Offering Smooth Rides Since Many Years
Thought ArticlesShock absorbers are considered to be the most essential components of the suspensions of two-wheelers. The primary function of a shock absorber is to lessen the shock impacts while riding a two-wheeler and further offer a smooth ride. These shock absorbers work in fluid mechanism as they work through the displacement of fluid during its phase of expansion and compression of the spring component.
The global motorcycle shock absorber market is poised to show nominal growth throughout the course of the next five years. The major factors that are responsible for the market growth include the significant increase in the demand for two-wheelers, especially in the developing economies due to the presence of a considerably large population base that cannot afford cars. Furthermore, two-wheelers further offer easy mobility on congested roads which is also a key factor bolstering the adoption of them in highly populated countries such as India and China among others. The market is also poised to witness a decent growth over the next five years due to the constant participation of market players in the development of new and enhanced shock absorbers that are even lighter and highly durable. The graph below represents the global motorcycle shock absorber market size that shows the market reached US$4,433.888 million by 2025 from US$3,848.266 million in the year 2019.
Furthermore, the growing consumer requirements regarding smooth mobility has further led to the adoption of advanced suspension systems by two-wheeler manufacturers with an aim to add comfort to their bikes and further offer enhanced comfort to the riders. For instance, in December 2019, TVS, a multinational motorcycle company based out of India launched a new motorcycle that was equipped with an adjustable shock-absorbing system. However, the market may be restrained by the fact that in the developing and underdeveloped economies the customers are still inclined towards getting their shock absorbers repaired rather than getting them replaced which is comparatively less costly than the replacement costs of shock absorbers, thus negatively impacting the growth to some extent during the next five years.
E-Motorcycles
The market for shock absorbers is projected to witness a considerable growth on account of the growing demand and growing penetration of electric two-wheelers in many countries around the globe. This can be backed up by the fact that global electric motorcycles and two-wheeler market has shown significant growth in the past years. For instance, the market for electric motorcycles and two-wheelers reached US$16.087 billion by the year 2024 from US$11.798 billion in the year 2019 (Source: Knowledge Sourcing Intelligence).
The market for these two-wheelers is poised to grow on account of the burgeoning requirements regarding the use of those greener mobility technologies that are aimed towards the preservation of the environment. Furthermore, several government initiatives that are further aimed towards the promotion of electric two-wheelers further play a significant role in widening up the opportunities for the manufacturers over the next five years.
Segment Overview:
The global motorcycle shock absorber market has been segmented on the basis of placement, distribution channel, and geography. On the basis of placement, the market has been segmented on the basis of the front and rear. On the basis of the distribution channel, the market has been classified into OEMs and aftermarket. Geographically, the market has been distributed on the basis of North America, South America, Europe, Middle East and Africa, and Asia Pacific.
By placement, the front segment is projected to hold a substantial market share throughout the course of the next five years. The major factor responsible for supporting the significant share of this segment is that the majority of the two-wheelers are equipped with two shock absorbers at the front as it offers better handling and comfort while riding. Furthermore, to support the handling of the two-wheelers better and advanced shock absorbers are equipped in the front. Furthermore, the rear segment is expected to witness a considerable growth throughout the course of the next five years. The key factor bolstering the growth of this segment is the constant participation of both two-wheeler manufacturers towards equipping mono-shock absorption systems in high end as well as in standard bikes also.
By the distribution channel, the aftermarket segment is projected to witness a substantial growth throughout the forecast period primarily on account of the rising requirements for the replacement of shock absorbers as their life span is limited and these are required to be replaced as their efficiency reduces due to the wear and tear. Also, the availability of custom products that are tailored to the needs of the customers is also supplementing the growth of this segment during the forecast period. Furthermore, the rising trend of custom made bikes in the developed economies as well is further augmenting the growth of the aftermarket segment throughout the next five years.
Geographically, the Asia Pacific region is anticipated to hold a noteworthy amount of share in the market throughout the course of the next five years. The presence of highly populated countries in the region such as China and India among others play a significant role in driving the demand for two-wheelers for local traveling as two-wheelers offer convenient mobility for short distances. Furthermore, the growing acceptance of two-wheeler ride-hailing services has also positively impacted the demand for motorcycles in the APAC region, thereby positively impacting the market growth during the next five years. Additionally, the constantly growing penetration of high-end sports bikes and cruiser bikes due to the growing middle-class population and improvements in the standards of living of the people living across these economies is also anticipated to propel the market growth in the Asia Pacific region over the next five years. Furthermore, the presence of key players in the region is also expected to supplementing the market growth in the coming years.
Anti-Pollution Mask Market: Breathe Safe
Thought ArticlesModernization of societies across the globe is picking up pace. Fusion of cultures from the east and the west is creating societies which are more modern than they have ever been. Modernization is transforming people’s living style, and eating habits among many other aspects. As a matter of fact, growing urbanization across the globe is a result of people’s urge to live in a modern society.
Since modern societies are perceived to offer people better access to basic amenities and better prospects of both personal and professional growth, people from rural areas are drifting gradually towards urban areas, thus increasing the urban population. As urban population continues to increase, local governments and concerned authorities are pushed to increase the circulation of vehicles for public transport. As owning a vehicle is still perceived to be status symbol in many countries, people continue to pour money into buying vehicles. Increasing number of vehicles on road is driving with it the concentration of vehicular emissions in the environment, thus increasing the incidence of various diseases which are caused by breathing in polluted air.
Growing industrialization across the globe is also contributing significantly to the degrading quality of air in many countries. Solid growth of global manufacturing sector continues to add to the concentration of all air, water and land pollutants in the environment each year.
One of the key manufacturing sectors which have been the major contributors to the global air pollution is the chemical manufacturing sector. As the demand for chemical products, from all sectors which use chemicals as raw materials in their manufacturing processes, continues to register a continuous growth, players across the chemical industry are being pushed to funnel more investments into various sectors. European Union, for instance, has been showing a robust growth in this sector over the past decade. According to a data from the European Chemical Industry Council (CEFIC), the EU chemical sales witnessed an increase from €530 billion in 2008 to €565 billion in 2018. Over the same period, the total pumping of investments by the EU member countries into research and innovation showed an increase of more than 23% as the total value of investments rose from €8 billion in 2008 to around €10 billion in 2018. Not just this, capital spending in the EU’s chemical sector also remained strong between 2008 and 2018. The total capital spending by the European Union member states into chemical industry was around €21.3 billion in 2008 and this figure stood at around €22.8 billion in 2018. While this is just one example, many other countries across the globe are also showing an impressive performance in this sector. Other industries like pharmaceutical, oil and gas, mining, and construction to name a few have also been adding significantly to the global GDP. As production across these industries continues to increase, quality of air in many parts of the world is degrading. This is despite the enforcement of stringent regulations which require companies to get Environmental Impact Assessment done before starting a production facility and to ensure adherence to environmental laws throughout the life of the facility. As the quality of air continues to degrade, many people, who are aware of the harmful effects of air pollution on their health, are increasing the adoption of anti-pollution masks.
While this market continued to show a fairly modest growth for a long time, recent outbreak of the novel coronavirus disease has given a big boost to the market growth. According to a data from the World Health Organization, the total number of confirmed COVID-19 cases, as of 11:06am CEST, 24 July 2020, stood at 15,012,731 while the total number of deaths worldwide stood at 619,150. As the number of new cases per day now stands near 247,225, fear of contracting the disease is increasing among people. What makes this even more dangerous is the fact that there is no cure to this disease and the lethality of the virus is fairly high. As this virus continues to mutate, its ability to get transmitted through air is increasing, thus mounting concerns among people. Increasing efforts by the governments to ensure that people do not step out of their houses without any anti-pollution mask, coupled with already high degree of fear among people, is spurring the sales of anti-pollution masks, and thus boosting the market growth. High ease of spreading of this virus has been pushing people associated with essential services, which include doctors, nurses, law enforcement personnel, janitors and others to wear certified masks for complete protection and change the mask after a specified duration of use. This is further fuelling the demand for anti-pollution masks, thus propelling the market growth.
Geographically, the report, titled Global Anti-Pollution Mask Market from Knowledge Sourcing Intelligence, has segmented the market into North America, South America, Europe, Middle East and Africa, and Asia Pacific. To give a clearer view of the market, these regional markets have been further segmented into countries which account for a significant market share. North America accounts for a significant share in this market and the market growth is being fuelled by increasing number of COVID-19 cases. The United States tops the list of countries with the highest number of cases and high degree of fear among people is increasing the sales of anti-pollution masks among them. Other regions also hold a significant share in this market.
Global Coffee Bean Market Trend – Invigorating & Healing the World
BlogIncreasing independent cafes, penetration of franchise outlets in newly industrialized countries, rising affluence making relatively expensive specialty coffees more affordable, expanding food and beverage applications, growing awareness of health benefits as well as increasing personal care applications are few of the factors, among others that are poised to driving the global coffee bean market during the next few years.
Across the beverage industry, the consumption habits are more geared towards chilled on-the-go coffee beverage options made commercially available in a variety of flavors that eliminates the need to wait in a queue, albeit the coffee bean market still caters to a healthy portion of traditional coffee drinkers. Moreover, there is always an ample scope of product innovation in areas like flavors, functionality, packaging, processing as well as in the infused coffee segment, leading to anticipated growth in the global coffee bean market. Also, coffee beans are now increasingly acknowledged for its health benefits due to polyphenols and phenolic constituents which contains Chlorogenic acids that are known to have certain therapeutic properties, which include antioxidant, antiviral, hepatoprotective, hypoglycemic properties. These have led to their applications personal care products like the Australian beauty brand Frank Body’s Express-O Scrub, among others, reportedly launched in 2018, a creamier version of its coffee body scrubs, and contains Robusta coffee grounds among other as its ingredients.
Applications Pertaining to Food and Beverage Are Going to Hold a Substantial Share of the Market Among Other End-Users
Form artisanal brewing techniques through innovations in flavors to manufactures of all sizes has been increasingly engaging in investments. The growing health awareness has resulted in increased consumption of RTD coffee which is acknowledged more as a source of energy than its traditional attribute of a pick-me-up. Another is that of cold brew techniques which by way of steeping coffee grounds in water at cold-to-room temperature for 16-24 hours results in the reportedly more caffeinated simultaneously less acidic coffee beverage. With respect to the ready-to-drinks options, the growing investments in product innovation are obscuring the lines that once delineated categories as exemplified by the reported launch of Pabst Blue Ribbon hard coffee by the Pabst Brewing Company, in December 2019, which is in essence, a malt-based beverage that is made with coffee derived from a blend of Arabica and Robusta beans, creamy, rich milk vanilla flavor and alcohol (5% ABV) with 30 mg of caffeine per can. Again in 2019, it was reportedly announced that Jägermeister will be unveiling a new alcoholic cold brew coffee with 33% alcohol by volume (ABV), which was expected to be commercially available in January 2020. The beverage is reported to contain 10% of the caffeine with the flavor of Arabica coffee, among others. These developments are further expected to drive the market for coffee beans.
Global Coffee Roast and Ground Exports (In Thousand 60-Kilogram Bags)
Source: USDA
Another driver which the food and beverage industry is witnessing with regards to global coffee bean market is that of the magnitude of disruption brought about cannabis, leading to CBD infused coffee drinks as evidenced by the launch of Ready-to-Drink CBD-Infused Iced Coffee made available in cans by Elev8 Brands, Inc. (OTCQB: VATE), 2019. Flavor-wise too, innovations like Costa Coffees launch of Honeycomb flavor range reportedly in July 2020, are leading to an expansion of this segment. This flavor range will be reportedly creamier and also has a cold brew variant where it has been brewed for 20 hours and the underscored with honeycomb syrup. Further, there also have been partnerships to create new drinks and make it commercially available to grocery and convenience stores like that of ready-to-drink Starbucks Nitro Cold Brew brought about by a partnership between Starbucks and PepsiCo are made commercially available Black, Vanilla Sweet Cream and Dark Caramel varieties. Further, Pernod Ricard’s Kahlua reportedly launched in July 2020, Nitro Cold Brew made available in 6.8 fluid ounce can with 4.5 % ABV and Arabica cold brew, among others, as ingredients. Further, due to wide acceptance coffee as a flavor for edibles that includes snacks, confectionaries, among others are also leading quite a few product innovations.
Emerging economies like that of Vietnam are also witnessing product innovations for example world’s first authentic Vietnamese Cold Brew Coffee had reportedly announced the launch of a plant-based cold brew comprising a blend of premium Japanese matcha and coconut milk, in June 2020. The coffee beans are sourced from the family farm in Da Lat, Vietnam where the beans are grown microclimates of high altitude that results in a rich and dense coffee as well as giving rise to multi origin blends due to topographical diversity. The beans are reportedly steeped in cold water for a long duration and then brewed in small batches. This product is reportedly devoid of dairy, soy, and gluten among others, and is low in calories. Besides such product innovation, there have been certain strategic initiatives too by the players in the coffee bean market.
For instance, in December 2018 it was announced that the largest custom coffee roaster in America S&D Coffee & Tea, had reportedly announced that it was expanding its partnership with CBTL, by being the exclusive roaster and distributor across all commercial and non-commercial channels. Further in October 2019, an Italian company that produces, processes and markets roasted coffee with distribution across 110 countries called Massimo Zanetti Beverage Group had reportedly acquired a traditional coffee brand in Brazil, Café Pacaembu Ltda that was founded in 1957. Again, in July 2020, it was reported that that Nespresso plans to invest CHF 160m ($170m) to augment its production capacities in Switzerland by facilitating an expansion of its Romont production center, whose construction is due in June 2021 and poised to be operational by June 2022. Again, during the same year, specialty coffee company and a leading U.S. single-serve coffee producer and co-packer NuZee, Inc. (NASDAQ: NUZE) had reportedly announced a co-packing agreement with an Austin-based startup that roasts gold coffee Golden Ratio, with rationale facilitated the disruption of the coffee category with a craft beverage that tastes like tea with a caffeine content that is expected out of a normal coffee beverage.
3D Nand – The Need of the Hour for Data Storage Solution
BlogThere are two types of NAND memories in the market – 2D NAND, also known as Planar NAND, and 3D NAND. NAND is a type of memory that is increasingly becoming popular since it does not require any power source to retain the data. 3D NAND is allowing the original equipment manufacturers (OEM’s) or the end-users to attain higher performance, endurance, and efficiency in comparison to the 2D NAND. Moreover, since it is stacked vertically, it tends to have more capacity than 2D NAND within the same dimensions, thus, consuming less power, reading the data faster, and cost relatively less per gigabyte. As such, it is increasingly finding applications in the smartphone market, more particularly, among the premium range. For instance, Apple, Inc. uses Toshiba’s 3D NAND 96L Die in its iPhone 11 ProMax, iPhone 11 Pro, and iPhone 11 Model (512GB – US, 512GB – China,256GB – China) while it uses SK Hynix 3D NAND 72L Die in its iPhone 11 model (256 GB, US). Similar trends have been observed in the Samsung’s Galaxy series with the company incorporating V-NAND 512GB Die in its Samsung Galaxy S10+ models with the 3D NAND flash memory market projected to grow at a CAGR of 15.86% between 2018-2024.
Transforming Data Storage in Data Centers
The continuous penetration of the digital world is bringing significant pressures on the data storage requirement of the firms. Thus, there has been a growing focus on increasing the data storage ability within the data centers. Since 3D NAND are vertically stacked, it allows more data to be stored per server while also delivering higher input-output operation per second per terabyte. In fact, the number of data centers is growing globally.
Data Created Everyday (In Billion GB)
Source: Knowledge Sourcing Intelligence Analysis
Moreover, the estimated energy consumption share of data centers is expected to increase from 1.1% of the total energy use in 2012 to 2.5% energy use in 2020 (source: Asian Development Bank), indicating rising operational demands on the data centers. Simultaneously, the cloud storage market is estimated to grow at a CAGR of 28.49% during 2015-2023 (source: Knowledge Sourcing Intelligence Analysis). Moreover, the amount of data generated every day has increased from 39.151 billion GB in 2016 to 74.438 billion GB in 2019, thus supplementing the 3D NAND flash memory market growth.
Recent Market Developments
Asia Pacific Driving the Revenue Generation Opportunity
The demand for a data storage solution is increasing in China as the number of local companies is seeking to expand their operation globally in a cost-effective manner and thus, storing data on the cloud allows them to put a major proportion of their resources in building other important infrastructure. Moreover, the gradual reduction in industrial electricity prices and focus on improving the overall efficiency of the data centers is anticipated to increase the number of data centers in the country. Furthermore, China is the world’s largest smartphone market while it is also the world’s biggest automaker. In fact, it estimated that more than one-fifth of the vehicles sold in China have connected functionality. Simultaneously, in Japan, with the growing aging population in the country, technology firms are developing connected devices that record data on the cloud that can be accessed easily. For instance, Panasonic Corporation has developed a microwave resembling machines called Calo Rieco that calculates dish total calories and will store data on the cloud to suggest changes as and when required which could be useful for diabetic patients. In general, the demand for connected devices has been increasing in Japan rapidly over the years. Simultaneously, growing focus by the government of India to boost domestic manufacturing of smartphones is influencing the market in the country. Moreover, the rising number of internet users in India is driving storage needs. Simultaneously, the regulation requiring the data to be stored in the local Indian servers is projected to drive the data center space in the country, thus boosting the 3D NAND flash memory market.
ABOUT THE AUTHOR
Siddharth David is a Senior Market Research Analyst at Knowledge Sourcing Intelligence LLP. Siddharth’s expertise lies in offering predictive analysis and an all-inclusive outlook of different industry verticals from both the macro and micro point of view, with the special knack in market sizing and delivering key strategic insights. To read more articles by him, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.