From a departmental store to a supermarket or a convenience store, consumers find shelves stacked with multiple brands of canned food irrespective of the kind of store they go in. The canned food market has experienced significant growth in recent years and is expected to grow further in the coming years. Canning is a preservation method for food and storing it in airtight containers. It is a three-step process of processing the food, sealing the food into cans, and then heating the cans to prevent spoilage. The canned food is easy and handy snacking and meal option for the consumers. The various types of food available in canned packaging in the market include fruits and vegetables, seafood and meat, sweets, soups, and sauces, ready-to-cook meals, spices, drinks, and more.
These are appropriate and convenient to use, consume, and store. There is a growing acceptance of canned food among consumers across the globe due to the wide availability and long shelf lives. The canned food is also a healthy choice because of its ability to retain nutrients, color, and flavor. Most minerals, proteins, carbs, fat, and vitamins A, D, E, K are retained.
Key Drivers of the Market
The market is expected to grow due to the rising urban population and their increasing disposable incomes. Consumers, nowadays, are willing to pay a premium price for these high-quality, healthy canned products. The inclining canned food market growth is also owed to the rise in the working population especially working women that now have a busy lifestyle and are looking out for a convenient solution in form of these ready-to-go and ready-to-eat products.
There is greater awareness among the consumers regarding the disadvantages of conventional plastic packaging, the harm done to both nature and human bodies. So, there is a watch for a sustainable solution out of this bizarre problem. Furthermore, there is an increasing acceptance and adoption of recycling and reusing which is further fuelling the demand for these canned products packaged in aluminum and tin cans.
Also, consumers are now becoming increasingly health-conscious and would choose these canned products that can retain essential nutrients over other packaged food. The young, millennial population is readily accepting these canned products due to the increasing western influence and the emergence of new products by well-known brands.
In recent years, e-commerce platforms have bloomed tremendously making these canned food products just a click away from the consumers. This is also one of the reasons for the increasing demand seen by these products.
There has also been a rise in the different kinds of retail stores and their presence, even in remote areas, making canned food widely available, further increasing the market size for these products.
Hurdles Along the Way
The cans made of aluminum and tin, though recyclable, are non-biodegradable, further harming the environment. Due to this reason, there is a reluctance on the part of both the consumers and the governments. Regulations and bans are imposed in certain regions due to environmental concerns hampering the growth of the market. Additionally, the manufacturers of these products are extensively dependent on the raw material suppliers for their packaging.
That said, a lot of companies in the canned food market are investing heavily in the Research and Development for alternate substitute packaging causing less, preferably, no harm to the environment. This opens gates of opportunity for new entrants to enter the otherwise crowded market with innovative packaging. The canned packaging has a huge room for innovation. Recently, in January 2021, Grupo Calvo, a Spanish company, announced to have found a revolutionary way of canning Tuna through a Real Peel technology through which the company can balance oil usage. And, it easily facilitates the disposal of the product entirely through a flexible aluminum lid.
Furthermore, there is a rising awareness about the advantages of fresh food among consumers across the globe. This proves to be a challenge for the growth of the canned food market due to the use of preservatives and the high amounts of salts and sugar present in the products. Though, companies have realized this and so are venturing into different, innovative categories like the canning of organic products.
Impact of Pandemic
The Pandemic has grappled the global markets with its shackles. The supply chains both local and international have been completely disrupted due to the lockdown imposed by several countries to curb the spread of the virus. This has had a multifold impact on the canned food manufacturing companies. On one side, the acquisition of raw materials has become difficult and on the other side, the distribution channels are disorganized. Furthermore, the disposable income of people has drastically decreased forcing them to restrict themselves to the essential commodities resulting in falling demand for the canned food.
However, on the brighter side, the E-commerce platforms have further flourished and have received increased usage leading to wider availability and presence for the products.
Geographical Landscape
Canned food market size is expected to increase in both the developed and emerging economies. However, the market is dominated essentially by two regions of North America and Europe. In North America, the markets in countries like us, Canada, and Mexico have the presence and headquarters of global giants who have been researching and investigating extensively about the canned food market, facilitating the local producers. The acceptance of canned food is also more in the region owing to the soaring working population, their busy schedules leading to the increasing demand for these convenience goods. The growth in the region is also owed to the presence of good infrastructure in the region, facilitating supply chains.
The market is witnessing an inclining growth trend in the region of Europe because of the high consumer base for canned food in the countries Italy, Spain, Germany, France, and the UK. Not just individual consumption, but the growth of the market in the region can also be attributed to the restaurants and food joints using canned food in their preparations.
There is an expected rise in the demand for canned food in the Asia-Pacific market in countries like China, Japan, India, and Korea essentially due to the influence of Western culture and the increasing working population. The huge population, rapid urbanization and rising internet exposure, and an increasing number of retail stores have created a high consumer demand in the region. That said, the region facilitates more through the production and exports.
The Middle East and African region are set to experience low but steady growth due to the changing food habits and dietary preferences. The usage of canned vegetables and meat in the Middle Eastern Cuisines will further drive the growth of the canned food market in the region.
Progressing Trends in the Electroplating Market
BlogThe Electroplating market is worth $13.052 billion for the year 2019 and is expected to grow at 2.92% CAGR to reach a market volume of US$15.960 billion by 2026.
Electroplating is also known as Electrodeposition or electroplated coating is a process of coating metal using a thin layer of another metal through the process of electrolysis. The process is carried to improve metal's corrosion resistance. The central purpose of electroplating is to change the physical properties of an object. The change in physical properties provides aesthetic appeal, corrosion protection and increased wear resistance to the object. Also, electroplating is carried out for electroplating is to improve the appearance and special surface and engineering & mechanical properties of the metal. The most commonly used metal in the process of electroplating is copper, nickel, gold, silver, chrome, zinc, tin, rhodium and aluminum among others.
The growing demand in the market can be attributed to the increasing demand for metal finished consumer goods. Other factors that are playing an integral role in augmenting the demand in the market include the rising adoption of electroplating solutions across industry verticals such as aerospace, automotive, defense etc. Moreover, the advent of Industry 4.0 has augmented demand in the electroplating market. For instance, ARCI has developed a new friction-reducing composite that could provide an excellent combination of wear and corrosion resistance through the use of electroplating processes. The new composite focuses on delivering solutions to the automotive and defense sectors. Growing demand and technological innovation in the industry are anticipated to propel growth in the electroplating market.
However, growing environmental concerns over waste produced during electroplating processes are estimated to hinder growth in the electroplating market. Moreover, government regulation concerning the emission of harmful gases and chemicals are expected to further hamper growth in the market. For instance, according to the United States environmental protection agency (EPA) guidelines, the department has promulgated the electroplating regulation (40 CFR part 4130 in 1974 and amended it 1977, 1979, 1981 and 1983. Owing to growing environmental concerns and government regulations are forcing companies to look for clean technology alternatives. For instance, through the funding of the US Defense Department's Advanced Research Projects Agency, various alternative are being adopted towards various alternative including PVD, plasma Nitriding, high-velocity oxyfuel(HVOF) and laser cladding by OEMs for rebuilding worn components. Furthermore, growing environmental concerns and resultant impacts on health have remained the primary concerns of end-user industry manufacturers.
Prominent players in the Machine Condition Monitoring market are Atotech Deutschland GmbH, Allied Finishing Inc., Peninsula Metal Finishing Inc., Kuntz Electroplating Inc., Pioneer Metal Finishing, LLC and Roy Metal Finishing Company, Inc. among others.
The Surging Demand and Increasing Use of Electroplating Solutions in the Automotive Industry Segment Will Drive the Market Growth
Growing demand for automotive products such as passenger automobiles, commercial vehicles, pickup vans and sport utility vehicles is expected to drive demand in the electroplating market. There has been an increased application of electroplating solution across the automotive industry. Electroplating is commonly used as an industrial application for the refurbishment of old chrome parts such as bumpers, grills and tire rims to make them look brand new. Moreover, the growing requirement for exceptional corrosion performance of decorative multilayer in automotive decorative plating is expected to boost demand electroplating market. Growing demand in the automobile industry is thereby boosting growth in the electroplating market. Also, the rising adoption of electroplating in the automotive industry for coating purposes with rustproof and non-corrosive materials is further expected to propel demand in the electroplating market.
Trends in Electroplating Market by Region:
Distinguished market players around the world have adopted various business strategies to sustain, grow and develop in the electroplating market by applying varied business solutions across business verticals including automotive, aerospace & defence, and electrical &electronics among others. Leading corporations such as Atotech Deutschland GmbH, Allied Finishing Inc., Peninsula Metal Finishing Inc. etc. have undertaken various business strategies including partnerships, takeovers, mergers and other related commercial agreements to develop and provide innovative and sustainable solutions across varied business verticals worldwide. Through such collaborative agreements and innovative practices, the North American region has resulted in the considerable development of the market on the whole.
The North American region endures a notable market share and is anticipated to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by rapid urbanisation and the increasing production of consumer electronics. Furthermore, the presence of leading market players in aerospace, defence and automotive industry verticals are expected to further boost demand in the market over the forecasted period.
Whereas, the APAC region is projected to grow at the fastest rate and dominate the market over the forecasted period. The growth in the region can be attributed to the growing use of electroplating solutions across industry verticals such as automotive, electronics, aerospace and medical among others. Moreover, growing consumption and production in countries like Japan and India is expected to further propel demand in the market. For instance, Gallium Arsenide (GaAs) foundry has announced orders for multiple solstice electroplating systems from the leading provider of advanced semiconductor plating and surface preparation system, ClassOne technology.
COVID Insights
The novel coronavirus negatively impacted the electroplating market. The pandemic has impacted economies and industries across the world owing to nationwide lockdowns, shortage of raw materials, labour and associated travel bans. The chemical and materials industry has been significantly impacted by major disruptions across business operations. Furthermore, owing to the pandemic, the electroplating market faced a major setback as offices, factories were forced to shut down which brought about breakages in supply-chain and related logistic disruptions.
Advancements in the Surgical Lights Market
BlogThe Surgical Lights market is worth $734.793 million for the year 2019 and is expected to grow at 5.75% CAGR to reach a market volume of US$1,086.111 million by 2026.
Surgical light is a medical device widely used by doctors and surgeons in various operative procedures. Surgical lights aid by providing needed illumination at varying depth of incision and body cavities during the surgical procedure. Surgical lights are also known as operating lights or surgical overheads. Surgical lights serve the purpose of providing optimal visualization and hours of bright light without harming the patient or staff through the excessive heat generated by lights. The setup may consist of a single or multiple light head assembly attached to a suspension arm. Besides, the type of lamps used in surgical light equipment includes tungsten, quartz, xenon halogens and LEDs. Furthermore, According to a WHO report, surgical lights can be classified by mounting configuration as ceiling-mounted, On Floor stand and Wall mounted.
Moreover, the LED segments in the surgical market hold a dominant share in the market application. The dominant market share can be attributed to the long term cost reduction benefits provided by the LED segment. Besides, LED lights offers the highest quality and adequate intensity of illumination, which further inclines usage towards LED lights in medical procedures. Also, the growing demand in the market is motivating market players to offer innovative and technological advancements in surgical light solutions. Further, the introduction of novel LED surgical light solutions have provided a comparative advantage over the halogen segment as they offer significant operational benefits over the latter.
Similarly, surgical lights are used across various medical segments such as Cardiac Surgery, Neurosurgery, Oncology, Gynalogical and ENT Surgery among others. Additionally, surgical lights serve an integral role in hospitals, ambulatory surgical centres and other related medical clinics. Hospitals hold a significant market share for surgical lights owing to growing investment in hospitals and medical institutions, exponential growth in healthcare infrastructure in emerging economies such as India, China and Saudi Arabia among others. However, Ambulatory surgical centres are estimated to witness notable growth in the adoption of surgical lights over the forecasted period owing to the cost-effective medical facilities offered by ambulatory centres.
Prominent players in the Machine Condition Monitoring market are Hill-Rom Services Inc., Stryker, Getinge AB, Steris PLC, Skytron, LLC and Integra LifeSciences Corporation among others. In recent market developments, Steris PLC announced the acquisition of cantel medical in a $4.6 billion deal.
The Rising Number of Surgical Procedures and Expansion in Health Care Infrastructure Will Drive the Market Growth
The rising number of surgical procedures globally is leading to increasing demand in the surgical lights market. The growing number of surgical procedures coupled with increasing regulatory approvals for operating rooms are expected to offer better facilities for patients and augment the demand in the surgical lights market over the forecasted period. The growth in the surgical lights market can be attributed to an increasing number of accidents, chronic illnesses and the growth of the geriatric population. The growing need for surgical procedures is supported by incased product availability, accessibility for healthcare facilities and burgeoning demand for advanced health care infrastructure by healthcare professionals is expected to further drive demand in the surgical lights market. Furthermore, the development of health care facilities across emerging economies is a major factor driving the demand in the surgical lights market. The development of healthcare facilities in emerging economies can be attributed to an influx of investment by private players through PPPs or direct buyouts. Besides, supportive government initiatives are further augmenting growth in the surgical light market.
Trends in Surgical Lights Market by Region:
Prominent market players around the world have adopted various business strategies to sustain, grow and develop in the surgical lights market by applying business solutions across various hospitals, clinics and ambulatory surgical centers among others. Leading corporations have employed various business strategies including partnerships, takeovers, mergers, and other related commercial agreements to develop and provide innovative and technological advanced services to the medical community worldwide. Through such collaborative agreements and innovative practices, the North American region has resulted in the considerable development of the market on the whole.
The North American region endures a notable market share and is anticipated to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by the rapid adoption of technologically advanced LED lights and growing investment by the private and the public sector in the surgical lights market. Moreover, due to the presence of well-established healthcare infrastructure and rapidly ageing population in countries like the USA, Canada, the market is estimated to further propel growth in the market over the forecasted period. Additionally in the USA, the use of surgical light/lamps is governed and regulated by FDA. Whereas, the APAC region is anticipated to grow at the fastest rate and dominate the market over the forecasted period. The major driving factor is rapidly advancing technological healthcare solutions and increasing demand for better healthcare facilities in the region. Also, the booming medical tourism industry in the Southeast Asia region is expected to further augment the demand in the market.
COVID Insights
The novel coronavirus negatively impacted the surgical lights market. The outbreak of the novel coronavirus has impacted every industry including healthcare. The COVID-19 led lockdown led to a shift in priority towards COVID patients, thereby affecting the surgery-associated market for patients dealing with chronic illnesses and patients requiring surgeries. In the majority of countries owing to the pandemic, a significant number of hospital wards were transformed into COVID wards, thereby significantly impacting and reducing the number of dental, gynecological, cardiovascular, and other types of imminent surgeries. The decline in the number of operative producers resulted in a reduction in the use of surgical devices such as surgical lights.
Pressure Sensor Usage for Novel Innovative Solution
Thought ArticlesThe Pressure Sensor Market is estimated to reach a market size of US$4.896 billion by the end of 2026. The market was worth US$3.183 billion in 2019 and is anticipated to grow at a CAGR of 6.35%.
A pressure sensor is a device consisting of a pressure-sensitive element which helps in determining the actual pressure applied to the sensor using varied working principles and some component that aid in converting this information into an output signal. Pressure Sensors are used in measuring physical quantities such as length, force, temperature and convert the measured data into an electrical or an optical signal. There are different types of pressure sensors including pressure transmitters, pressure transducers and pressure switches which are applied to perform varied task across business verticals. The use of pressure sensors depends upon the material and application for which the pressure needs to be measured.
Furthermore, pressure sensors are widely used in process applications such as hydraulics, pneumatics. Additionally, it supports the GPS application solutions and aids in calorie expenditure estimation task. Besides, it is also used by hearable manufactures, wearable’s and in the functioning of high-performance smartphones. Recently, Korean electronics giants, Samsung announced the development of a stretchable heart rate monitoring skin patch which operates on an integrated stretchable OLED display and a photoplethysmography (PPG) sensor.
Pressures sensors are employed across various business verticals and industries. Pressure sensors are used in everyday applications as well as in specialist operations across specific business verticals. Also, Pressure sensors can be tailored to meet industry requirements across business operations including vacuum operations, chemical applications, ATEX Certified areas and high-temperature areas. As pressure sensors are classified into different categories including pressure switches, pressure transducers etc.
Pressure switches also known as pressure gauges or static switches are available with either one port or two ports. Pressure switches have a wide range of applications across industries including Alarm systems on HVAC boiler system controls, varied use in medical breathing apparatus and liquid dispenser in coffee machines. Furthermore, pressure switches are used in monitoring oxygen levels in pressure tanks in the medical industry and are employed to monitor water levels in household appliances such as washing machines. Whereas, pressure transducers are more complex sensors as compared to pressure switches. Pressure transducers are used in breaking mechanism in automobiles such as long railway locomotives. Also, they are widely used in motorsport applications and as industrial gauges in measuring vacuum pressure.
Furthermore, they are employed in refrigeration systems, robotic applications, off-road construction processes, agriculture applications and automation. For instance, Valeport, a leading manufacturer of oceanographic and hydrographic has launched new sensors for Subsea surveys and ROV operations. The product houses interchangeable pressure transducers which aid in delivering enhanced accuracy for specific depth ranges.
Prominent market players in the Pressure Sensor Market include TE Connectivity, General Electric, Emerson Electric Co., Robert Bosch GmbH, ABB, Denso Corporation, Siemens AG and Omron Corporation among others.
The surge in the Automobile and IT industry is estimated to significantly contribute to the growth of the pressure sensor market.
Main drivers in the pressure sensor market include the rise in the use of pressure sensory in the automotive industry and a surge in demand for pressure sensors in the IT industry. The automotive industry holds a notable share in the pressure sensor market. Pressure sensors are employed for various purposes in the automotive industry including engine optimization, emission control and safety enhancement. The increased deployments of pressures sensors in the automotive industry are estimated to augment demand over the forecasted period. Moreover, rising environmental and safety concerns in the automotive sector is further enhancing demand for sensors in the market, thereby augmenting growth in the pressure sensor market.
The growing demand in the automotive industry is forcing market players to undertake various expansion strategies. Similarly, the growing use of pressure sensors in the IT industry is burgeoning demand in the market. IoT technology provides internet and networking capabilities across all applications using electronic software and sensors to connect to a common network. Moreover, IoT incorporates the use of various sensors including proximity sensor, temperature sensor and absolute pressure sensors across industry applications. Thereby, the Major adoption of sensors in the IT industry is further expected to drive demand in the pressure sensor market.
The North American Region Is Projected to Hold a Notable Share of the Market
The Pressure market is fragmented by varied application across different business verticals and industries. Organisations have instilled various innovative techniques of pressure sensor for the production of various product segments across various business verticals.
Prominent market players around the world have adopted various business strategies to sustain, grow and develop in the global pressure sensor market owing to the highly competitive nature of the market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements and have made innovative technological advancements towards delivering unique solutions and thereby attracting more players into the market. Through such collaborative agreements and technological advancements, conglomerates and other allied agencies in the North American region have resulted in significant development of the market on the whole.
The North American region holds a dominant market share and is projected to grow at a decent CAGR over the forecasted period. The major driving factor is the rapid adoption of automation across industries in the region. Also, growth in the region can be attributed to the increasing adoption of automation solutions for smart offices and smart homes. Moreover, the region has witnessed rapid adoption of technological solutions in the healthcare industry as compared to any other region. Growth in the automation segment is expected to further propel demand in the pressure sensor market in the region.
Furthermore, supportive government policies in automobile safety are further estimated to boost demand in the pressure sensor market. For instance, the US government has passed the TREAD act which mandates the use of tire pressure monitoring safety(TPMS ) in every automobile to alert diver about the under inflation of automobiles within minutes of its detection. Besides, owing to the wide range of applications of the pressure sensor and the availability of large scale opportunities are expected to augment growth in the pressure sensor market in the region. For instance, Emerson Electric recently introduced the Rosemount 550PT Pressure Transmitter, a single-use pressure instrument that aims to support life science manufacturers in reducing time to market. Similarly, TE connectivity introduced a new multi-parametric oil quality sensor, OPS3 that aims to oil condition monitoring in heavy equipment and hydraulic systems.
Fatty Alcohol Market on the Rising Path
BlogFatty alcohols are usually high-molecular-weight, straight-chain primary alcohols having varied precise chain lengths with the source. Fatty alcohols transpire as primary or secondary alcohols comprising alkyl chains with unsaturated bonds or methyl branching groups. It is a distinctive group of Oleochemicals that are derived from natural fats and oils. Some commercial fatty alcohol examples are lauryl, stearyl, and oleyl alcohol. Fatty alcohols are widely used in a number of industrial and domestic applications from personal care to lubricants.
Expanding Demand in Surfactant-Based End-Use Industry to Boost the Market Growth
Market infiltration of organic fatty alcohols has ascended in surfactant-based markets, like personal care, cosmetics, and cleansers. Because of the advent of the COVID-19 pandemic, there is expanded awareness in regards to the utilization of home cleansing and personal care items. The interest for surfactant-based items, like cleansers and washing detergents, has risen fundamentally. The demand for cleansers, hand sanitizers, and other personal care items is expanding as a prudent step against the spread of the virus. Fatty alcohols are fundamental antecedents for the manufacturing of surfactants, which are delivered from fatty alcohol ethoxylates and sulfates. Fatty alcohol ethoxylates are non-ionic surfactants that are broadly used in cleansers utilized for homegrown and industrial applications. Fatty alcohol-based surfactants are utilized as cleaning and wetting specialists in agribusiness, cosmetics, and mash and paper manufacturing. The fundamental use of these Fatty alcohol surfactants in the fabric and cosmetic businesses is as a solubilizing and emulsifying specialist. These alcohol surfactants are utilized as lipophilic solubilizers in the drug business for lotions and treatments. These capacities and properties of fatty alcohols are estimated to push the demand in the homecare and personal care industry.
Biodegradable Characteristic to Facilitate Increased Adoption
Fatty alcohol, up to C18, is biodegradable while surfactants work with the utilization of fine-grained dye pigment, diminishing the remaining amount and consequently is climate cordial. Also, long-chain fatty alcohol, which is separated from plant waxes and bee waxes, has been demonstrated to diminish plasma cholesterol in people. So, changing consumer inclinations are seen to boost the interest in bio-based synthetic substances. Buyer mindfulness concerning the effect of unsafe petroleum-based products on the climate has expanded dramatically over the previous years. Developing ecological concerns are urging customers to utilize environment accommodating items. Such factors are prompting chemical producers to utilize bio-based inputs to fabricate their items.
Growing Demand From Industrial & Domestic Cleaning Segment to Drive the Market
The industrial & domestic cleaning fragment is becoming quickly inferable from improved ways of life and an expansion in the buying power equality of low-income population in developing economies in the Asia Pacific and South America. Besides, the demand for industrial & domestic cleaning is expanding as it utilizes fatty alcohols as a froth regulator, emollient, antistatic specialist, and a pacifier in powders and fluid items, to keep a better and more secure environment. So, the rapidly growing demand from the industrial & domestic cleaning segment is further driving the growth of the fatty alcohol market.
Inconsistent Prices of Inputs and High Operating Cost Restrain the Market Growth
Fatty alcohols are produced from inputs like fat, palm oil, rapeseed oil, and others. Different economies in the Asia Pacific, for example, Indonesia and Malaysia are significant producers of these inputs. Different districts including North America and Europe are reliant upon the Asian nations to source their inputs. Consequently, vacillations at the expense of inputs are subject to the trade exchange situations in these economies. Also, recently imposed limitations on the import of refined palm oil in India will additionally go about as an impediment in the development of the market. Moreover, the fundamental factor restraining the growth of the market is its high operating expense. The technique for extraction includes the recuperation of dissolvable and diminished alcohol utilizing the refining strategy, which entails the utilization of metallic sodium, which expands the operational expense of extraction. Also, intricate, and explicit hardware is needed to recuperate both, dissolvable and diminishing alcohol, which further builds the expense and technicality, henceforth restraining the market of fatty alcohol.
Impact of COVID-19 Pandemic
The advent of the COVID-19 pandemic on the fatty alcohol market is attributed to the disruption caused in the manufacturing industries. The unexpected events of the pandemic have constrained significant organizations, for example, Wilmar International Limited, Kuala Lumpur Kepong Berhad, Musim Mas Holdings, Godrej Industries Limited, and Procter & Gamble had to briefly close down their manufacturing facilities to control the spread of this infection. This shut down of manufacturing units has seriously affected the market players' sales and market share. Lockdown in a few nations has prompted a considerable decrease in manufacturing volume. Limitations on the transportation of materials have made created disruptions in the supply chain networks globally. Attributable to the above factors, the demand during the crisis decreased. However, this decline is temporary, and the market is expected to recover in the forecast period once the crisis has dissipated.
Asia Pacific Market to Witness Significant Growth
Asia Pacific region has a significant market share of the fatty alcohol market and is expected to grow at a steady rate attributing to the inclining demand from the cosmetics, personal care, and surfactant companies. The market is anticipated to develop at the quickest rate during the estimated period, inferable from fast industrialization in the region. It is set apart with thriving manufacturing industry, including cleansers, FMCG, and industrial cleaning. Besides, the presence of significant market players in these emerging economies additionally assumes an urgent part. Further, fast urbanization and increasing purchasing power additionally drive the market in the region. Likewise, the developing furor of personal care, cosmetics, and skincare items alongside modest and advantageous accessibility boosts the growth of the fatty alcohol market.
Shifting Trends Transforming the Apiculture Market
Thought ArticlesThe Apiculture Market is estimated to reach a market size of US$11.015 billion by the end of 2026. The market was worth US$8.943 billion in 2019 and is anticipated to grow at a CAGR of 3.02%.
Apiculture is a kind of occupation that involves nurturing and managing beehives by applying various scientific and commercial techniques. The process of apiculture involves acquiring various bee products including beeswax, honey, royal jelly, flower pollen and bee pollen among others. Moreover, Apiculture is not just limited to keeping hives and harvesting honey, it also involves setting up of suitably located and constructed hives and making sure there is a sufficient source of nectar for the bees.
Further, apiculture aids in processing the harvested liquid honey after it has been taken from the hives. The place where beehives are stored and managed for further processing of honey, wax, and pollen etch is known as an Apiary. Furthermore, the growing awareness concerning the health benefits of honey have made it popular and are projected to surge demand in the apiculture market. Also, supportive government policies and initiatives are expected to promote beekeeping, thereby boosting demand in the apiculture market. Moreover, the growing application of honey as an artificial sweetener is further anticipated to boost demand in the apiculture market over the forecasted period.
Apiculture plays an integral role in various industries and everyday food customaries. In the food and beverage industry, honey is one of the most preferred products for beverage brewing and sporadic serving on special occasions. Also, honey serves as an integral component in cultural ceremonies across the world. For instance, in Egypt, honey is used as a beauty product and medicinal supplement. Overall, honey has extensive advantages across industries and countries, thereby augmenting demand for the apiculture market globally. Moreover, honey is perceived as a nutritive and enjoyable food product worldwide. Honey is either consumer as a whole or is accompanies as a supplement with other products.
Moreover, honey is used as a nutritional supplement as it serves as an important source of food for impoverished children. Besides, bee products such as royal jelly, pollen are highly fancied among customers owing to their high protein value. Apart from its significant importance across industries, Apiculture plays an integral role in rural livelihoods. Beekeeping is a small scale but widespread occupation that spans various sectors including forestry, horticulture, agriculture, natural environment and animal husbandry among others. Furthermore, through the engagement of apiculture applications across various sectors, apiculture plays an integral role in poverty alleviation. Apiculture helps in poverty alleviation by enabling people to engage in people in the practice of selling raw materials, harvesting, marketing and production of secondary products, thereby effectively strengthening people’s livelihoods and alleviating poverty.
Prominent market players in the Pressure Sensor market include The Best Bees Company, Dadant & Sons Inc., Betterbee, Dabur India Limited, Seldom Fools Apiculture, Miller Honey Farms and Mann Lake Ltd. among others.
The Growing Consciousness About the Benefits of Honey and Government Incentives to Surge Growth in the Apiculture Market
One of the integral reasons supplementing growth in the apiculture market includes a growing awareness of the benefits associated with the consumption of honey. According to the US National Library of Medicine, Honey is not only used as a nutritional product but also in healthcare as traditional medicine or as an alternative treatment for clinical condition including wound healing and cancer treatment. Also, honey aids in reducing the risk for cardiovascular diseases, stroke, heart attack owing to its richness in antioxidants. Moreover, honey helps in reducing LDL cholesterol while increasing HDL cholesterol which is considered integral in reducing heart diseases. Overall, these combined advantages associated with the consumption of honey are expected to boost demand in the apiculture market.
Moreover, lemon honey water has garnered significant prominence over the recent years as a remedy for detox, weight loss, clear skin, thereby leading to burgeoning demand in the apiculture market. Whereas supportive government policies and incentives are further expected to augment the demand in the apiculture market. For instance, The Ministry of Agriculture & Farmers Welfare, Department of Agriculture Cooperation & Farmers Welfare, Govt. of India had instilled in the Bee Board intending to develop beekeeping and improving crop productivity. Also, the schemes aim to provide free of charge training for apiculture. Additionally, the scheme aims to provide financial support to beekeepers to double their income by 2024. The support of governments through various schemes and initiatives are expected to promote apiculture and is anticipated to boost demand in the apiculture market.
Regional Trends in Apiculture Market:
The Asia Pacific Region Is Projected to Hold a Notable Share of the Apiculture Market
Apiculture is fragmented by varied applications across different business verticals and industries. Organisations have instilled various innovative apiculture techniques for the production of various product segments including honey, beeswax, propolis, and live bees across various business verticals.
Prominent market players around the world have fostered various business strategies to sustain, grow and develop in the Apiculture market owing to the highly competitive and diverse nature of the market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements towards delivering cost-effective solutions. Through such collaborative agreements and technological advancements, conglomerates and other allied agencies in the Asia Pacific region have resulted in the notable development of the market on the whole.
The Asia Pacific region holds a dominant market share and is projected to grow at a decent CAGR over the forecasted period. The growth in the market can be majorly attributed to the growing awareness among consumers about the increasing benefits of honey. Moreover, the growing awareness has led to growth in demand in emerging countries such as India, China which is further estimated to propel growth in the apiculture market. Also, China is a leading producer of honey in the world, thereby burgeoning growth in the apiculture market in the region.
Moreover, supportive government policies and initiatives in the region are expected to further augment the region. For instance, in 2019, the Indian government launched the Sweet revolution or honey revolution to increase the promotion, development and production of honey and other related products. The scheme also aims to boost local farmer’s income through the sale of honey related products. Similarly, several organisations have been established in the region to support the growth of the Apiculture industry. For instance, the Asian Apiculture Association was established in 1993 to promote the exchange of scientific and general information regarding the apiculture industry in Asia.
Data Monetization: Using Data to Increase Revenue
BlogData monetization is defined as a form of monetization and an act of generating the measurable economic benefits from the available data sources. Data generated by the organization and companies are being used to create economic benefit or convert the corporate data to currency. These currencies are available in various forms of data currency or actual currency which are being used as the means of exchange of data, product or service. Data monetization is sharing of the data between the companies and using it to generate revenue or create new revenue-generating streams. Data monetization control the data generated from various business operation, content or electronic device or sensors being used by the IoT devices.
Some of the players of the data collection market are 1010data, Accenture, Adastra, Adstra, Dawex Systems, Elevondata, EMU Analytics, Gemalto NV, Infosys, Monetize, IBM, Google, SAP, SAS. The global data monetization market is expected to grow at a compound annual growth rate of 6.02% over the analysed period to reach a market size of US$278.234 billion in 2026 from US$184.778 billion in 2019.
Rise in Demand for Data by the Organization
The rising in internet penetration and number of users of the internet around the globe is becoming the primary source for the institutions to gather information in an economic and time convenient way. The amount of available information and data are increasing along with the surge in the number of users are allowing the organization to collect data such as reviews, opinion, experiences, feedbacks, and complaints to enhance their business operations. The faster and speedier connectivity enable analysis and editing and rising cloud computing have huge potential for the data monetization market. The data can be monetized directly by selling the raw data or taking insights from the analysed or processed data. The big giants such as Google are monetizing data through real-time bidding and is continuing to optimize their platform experience by the reinvesting data into their platform. The small and medium enterprises (SMEs) are increasing adopting cloud computing.
According to the World Bank report, 17% of the global SMEs are using the public platform for cloud computing and 11% of the global SMEs are using private cloud services. The rise in the volume of enterprise data is increasing focus to generate new revenue streams. For instance, a ride-hailing organization such as Ola, Uber and Lyft are using location-based analytics to gather insight about its consumer’s data that is collected from the pick-up and drop-off locations. Uber is expected to sell the data collected to other organization with the permission of the user. The data can be used to provide different promotions, vouchers or discounts to boost the market demand.
North America Dominating the Data Monetization Market
Based on geography, the market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. North America region is anticipated to hold a dominating position in the market owing to its state of art infrastructure and technological advancement. Further the presence of the key players such as Microsoft, IBM, Oracle and Salesforce.com in the region are boosting the market growth in this region. For instance, Oracle launched cloud native deployment option Billing and Revenue Management (BRM) in November 2019.
The Asia Pacific region is also forecasted to grow at a significant growth rate. Rising internet connectivity along with growing cloud computing and small and medium enterprises are the prime drivers of the market. In addition, the increasing adoption of the big data technologies, IOT technologies and artificial intelligence (AI) are driving the data monetization market in this region.
COVID-19 Impact
The outbreak of the Covid-19 pandemic and its subsequent lockdown impacted every industry and disrupted the distribution channel curbing the growth of the economy. Every industry was affected in different ways, for instance, manufacturing was impacted negatively but the healthcare industry grew. These variations had a noticeable impact on the data generated and monetized. Most of the business were depending on the online service, work from home practice because of the lockdown and the increase in customer’s indulgence in the online platform providing growth opportunities for the data monetization market. For instance, The National Institutes of Health launched a centralized and secure enclave in June 2020 as a part of the National COVID Cohort Collaborative (N3C) initiative for storage and analyzing a vast amount of medical record data from the patients who were diagnosed with covid-19 and the data is made available to the research and the healthcare providers to further develop and enhance the treatments provided.
Winning Through Tinning – Canned Food Market
Thought ArticlesFrom a departmental store to a supermarket or a convenience store, consumers find shelves stacked with multiple brands of canned food irrespective of the kind of store they go in. The canned food market has experienced significant growth in recent years and is expected to grow further in the coming years. Canning is a preservation method for food and storing it in airtight containers. It is a three-step process of processing the food, sealing the food into cans, and then heating the cans to prevent spoilage. The canned food is easy and handy snacking and meal option for the consumers. The various types of food available in canned packaging in the market include fruits and vegetables, seafood and meat, sweets, soups, and sauces, ready-to-cook meals, spices, drinks, and more.
These are appropriate and convenient to use, consume, and store. There is a growing acceptance of canned food among consumers across the globe due to the wide availability and long shelf lives. The canned food is also a healthy choice because of its ability to retain nutrients, color, and flavor. Most minerals, proteins, carbs, fat, and vitamins A, D, E, K are retained.
Key Drivers of the Market
The market is expected to grow due to the rising urban population and their increasing disposable incomes. Consumers, nowadays, are willing to pay a premium price for these high-quality, healthy canned products. The inclining canned food market growth is also owed to the rise in the working population especially working women that now have a busy lifestyle and are looking out for a convenient solution in form of these ready-to-go and ready-to-eat products.
There is greater awareness among the consumers regarding the disadvantages of conventional plastic packaging, the harm done to both nature and human bodies. So, there is a watch for a sustainable solution out of this bizarre problem. Furthermore, there is an increasing acceptance and adoption of recycling and reusing which is further fuelling the demand for these canned products packaged in aluminum and tin cans.
Also, consumers are now becoming increasingly health-conscious and would choose these canned products that can retain essential nutrients over other packaged food. The young, millennial population is readily accepting these canned products due to the increasing western influence and the emergence of new products by well-known brands.
In recent years, e-commerce platforms have bloomed tremendously making these canned food products just a click away from the consumers. This is also one of the reasons for the increasing demand seen by these products.
There has also been a rise in the different kinds of retail stores and their presence, even in remote areas, making canned food widely available, further increasing the market size for these products.
Hurdles Along the Way
The cans made of aluminum and tin, though recyclable, are non-biodegradable, further harming the environment. Due to this reason, there is a reluctance on the part of both the consumers and the governments. Regulations and bans are imposed in certain regions due to environmental concerns hampering the growth of the market. Additionally, the manufacturers of these products are extensively dependent on the raw material suppliers for their packaging.
That said, a lot of companies in the canned food market are investing heavily in the Research and Development for alternate substitute packaging causing less, preferably, no harm to the environment. This opens gates of opportunity for new entrants to enter the otherwise crowded market with innovative packaging. The canned packaging has a huge room for innovation. Recently, in January 2021, Grupo Calvo, a Spanish company, announced to have found a revolutionary way of canning Tuna through a Real Peel technology through which the company can balance oil usage. And, it easily facilitates the disposal of the product entirely through a flexible aluminum lid.
Furthermore, there is a rising awareness about the advantages of fresh food among consumers across the globe. This proves to be a challenge for the growth of the canned food market due to the use of preservatives and the high amounts of salts and sugar present in the products. Though, companies have realized this and so are venturing into different, innovative categories like the canning of organic products.
Impact of Pandemic
The Pandemic has grappled the global markets with its shackles. The supply chains both local and international have been completely disrupted due to the lockdown imposed by several countries to curb the spread of the virus. This has had a multifold impact on the canned food manufacturing companies. On one side, the acquisition of raw materials has become difficult and on the other side, the distribution channels are disorganized. Furthermore, the disposable income of people has drastically decreased forcing them to restrict themselves to the essential commodities resulting in falling demand for the canned food.
However, on the brighter side, the E-commerce platforms have further flourished and have received increased usage leading to wider availability and presence for the products.
Geographical Landscape
Canned food market size is expected to increase in both the developed and emerging economies. However, the market is dominated essentially by two regions of North America and Europe. In North America, the markets in countries like us, Canada, and Mexico have the presence and headquarters of global giants who have been researching and investigating extensively about the canned food market, facilitating the local producers. The acceptance of canned food is also more in the region owing to the soaring working population, their busy schedules leading to the increasing demand for these convenience goods. The growth in the region is also owed to the presence of good infrastructure in the region, facilitating supply chains.
The market is witnessing an inclining growth trend in the region of Europe because of the high consumer base for canned food in the countries Italy, Spain, Germany, France, and the UK. Not just individual consumption, but the growth of the market in the region can also be attributed to the restaurants and food joints using canned food in their preparations.
There is an expected rise in the demand for canned food in the Asia-Pacific market in countries like China, Japan, India, and Korea essentially due to the influence of Western culture and the increasing working population. The huge population, rapid urbanization and rising internet exposure, and an increasing number of retail stores have created a high consumer demand in the region. That said, the region facilitates more through the production and exports.
The Middle East and African region are set to experience low but steady growth due to the changing food habits and dietary preferences. The usage of canned vegetables and meat in the Middle Eastern Cuisines will further drive the growth of the canned food market in the region.
Trends in Global Sodium Bicarbonate Market
Thought ArticlesThe Global Sodium Bicarbonate Market is estimated to reach a market size of US$2.053 billion by the end of 2026. The market was worth US$1.464 billion in 2019 and is anticipated to grow at a CAGR of 4.95%.
Sodium Bicarbonate is commonly known as baking soda or sodium hydrogen carbonate. Sodium Bicarbonate is available as crystalline powder or granules and is generally odourless. Moreover, it has a cooling and slightly salty taste also is moderately soluble in water. Moreover, the growing demand for animal feed in farm animals and other livestock is expected to drive growth in the sodium bicarbonate market. Besides, rising demand for meat globally is further estimated to augment growth in the global sodium bicarbonate market. Additionally, supportive government policies and regulations regarding the application of the sodium bicarbonate market are expected to provide ample opportunities.
Furthermore, rising demand for baking soda in the bakery segment and increasing consumption of detergent are expected to propel growth in the market over the forecasted period. However, growing environmental concerns regarding the use of sodium bicarbonate and pertinent health hazards are anticipated to hinder market growth over the forecasted period. To sustain the business, several leading companies are taking environment-friendly measures that support green operations. For instance, Solvay recently announced the acquisition of a manufacturing facility located in Green River, Wyoming. The plant aims to reclaim and transform sodium carbonate waste streams into marketable grade sodium bicarbonate using the company's latest SOLVAir Select 300 product line. The plant focuses on providing a significant environmental benefit by reclaiming waste that otherwise would be sent to a detention pond.
Sodium Bicarbonate has a wide variety of applications across industries including pharmaceutical, food and beverage, animal feed, chemical, cleaning agent and flue gas treatment among others. Sodium bicarbonate serves as a neutralizing agent, provides a source of CO2 and acts as a catalyst in multiple processes. Sodium bicarbonate is extensively used in fire extinguishers to smother flames. Besides, dry fire extinguishers generally include fine powder sodium bicarbonate. Furthermore, sodium bicarbonate is employed as an integral component in flue gas treatment processes.
Sodium bicarbonate serves as one of the most efficient dry sorbents in the flue gas treatment process. Whereas, Sodium bicarbonate is used in the chemical industry to chemically treat drilling mud upon contamination with either calcium ions from cement or lime. Furthermore, sodium bicarbonate is used in the animal feed industry as an acidity regulator. It serves as supplementary feeds for cattle as it aids in improving digestion and heightens milk fat percentage and improves milk yield. Furthermore, sodium bicarbonate is used in pharmaceutical applications as an antacid to relieve heartburn and acid indigestion. Besides, sodium bicarbonate also has application in the cosmetic and personal care industry.
Prominent market players in the sodium bicarbonate market include Solvay, Tata Chemicals Ltd., Pfizer Inc, Genesis Energy, LP, Tosoh Corporation, Natrium Products Inc., Tokuyama Corporation and Trade House Bashkhim among others.
The Surge in Animal Feed and Food & Beverage is Estimated to Significantly Contribute to the Growth of the Security Printing Market
Main drivers in sodium bicarbonate include the rise in the use of animal nutrition and a surge in demand in the food industry. Sodium bicarbonate is widely used as an acidity regulator and the surge in demand in the animal feed industry is leading to augmenting market growth in the global sodium bicarbonate market. Furthermore, Sodium bicarbonate is widely used as a dairy cow feed supplement, whereas, the natural feed grade sodium bicarbonate aids in stabilizing rumen pH and reduces acidity. Also, sodium bicarbonate is employed as a partial replacement for salt in poultry rations. Besides, sodium bicarbonate also serves as an alternative source for sodium that assists with litter control and a healthier living environment. The varied applicability of sodium bicarbonate in various animal feed functions is expected to further augment growth in the market.
Whereas in the food and beverage industry, sodium bicarbonate serves as an integral multipurpose ingredient. It is widely used as a levelling agent and provides volume to bakery products such as cakes, wafers, pastries and crackers among others. Moreover, changing consumer taste and standards are forcing food and beverage industry companies to focus on various novel innovative bakery solutions. The growth in the food and beverage industry is thereby burgeoning growth in the global sodium bicarbonate market.
The Asia Pacific Region Is Projected to Hold a Notable Share of the Market
The Global Sodium Bicarbonate market is fragmented by grade and form; companies have instilled various departments of sodium bicarbonate production for the manufacturing of various product segments across various business verticals.
Prominent market players around the world have adopted various business strategies to sustain, grow and develop in the global sodium bicarbonate market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements and have made innovative technological advancements towards sustainable application of resources. Through such collaborative agreements and technological advancements, conglomerates and other allied government agencies in the Asia Pacific region have resulted in significant development of the market on the whole.
The Asia Pacific region holds a significant market share and is projected to grow at a decent CAGR over the forecasted period. The major driving factor is the growing population and large-scale application of sodium bicarbonate across industries in countries like China, India which is estimated to propel demand in the market. Furthermore, growing demand for products such as detergents & soaps, cosmetic personal care products and the availability of chemical raw materials is driving demand in the sodium bicarbonate market in this region.
Moreover, in Europe, countries such as Russia, Germany and UK are exhibiting strong demand for liquid detergents, thereby augmenting the demand in the sodium bicarbonate market. In recent market developments, Tata Chemicals Europe announced its plan to build a new plant in Winnington. Furthermore, the company recently announced a new product line, Ecokarb, which is set to be the world’s first sodium bicarbonate made with net-zero carbon emission is going to be used in the pharmaceutical industry.
Similarly, CIECH Soda Deutschland recently received pharmaceutical market authentication for attesting the highest quality sodium bicarbonate production in their German factory. Similarly in the American market, demand for cleaning agents and detergents have witnessed an upward trend in countries like the USA, Brazil, Mexico, thereby propelling growth in the sodium bicarbonate market. For instance, ?i?ecam Group announced its plans to co-invest in the US with the Ciner group for the widespread production of natural soda.
Changing Trends in the Data Center Security Market
BlogThe Data Center Security market is worth $6.958 billion for the year 2019 and is expected to grow at 17.17% CAGR to reach a market volume of US$21.858 billion by 2026.
Due to the rising number of cyber-attacks and cybercrime activities, organizations are widely adopting various data security solutions for safeguarding could as well as internal security measures. The data center refers to a set of practices, physical policies and virtual technologies used to protect data centers against external threats and attacks. Data centers aid in reducing the cost for private companies by providing centralized computing networks and servers. The largest data centers users are hyper-scale cloud companies and large-scale enterprises that use data Center security solutions to optimize and protect their data. Data Center security solutions are extensively being used in industries such as defense, healthcare, media, and entertainment and Banking & Financial services among others
A recent report by Interpol has indicated an exponential rise in the number of cyber-attacks and cyber threats during the Covid-19 pandemic. Hence, a growing number of cyber-attacks and cyber threats are forcing companies to opt for data security solutions to safeguard their data against data breaches and cyber-attacks. Thereby, positively impacting the data center market growth. However, the market growth has been hindered owing to the availability of cheaper substitutes and a limited budget for IT. Besides, concerns relating to privacy are impeding the growth in the market. The Data center security market can be segmented into the following subdivisions, namely midsize data centers, large Size data centers and enterprise data centers. Further data center security market can be segmented by service into managed security services, professional services and security consulting. Data Center security solutions are extensively being used in industries such as defense, healthcare, media, and entertainment and Banking & Financial services among others
Prominent players in the Datac enter Security market are McAfee LLC, Cisco Systems Inc., Trend Micro Incorporated, Dell Inc., IBM, Hewlett Packard Enterprise Development LP, Broadcom, IAM Networks and Fortinet Inc. among others.
The Growing Need for Cyber Security Solutions Will Drive the Market Growth
One of the primary reasons for the data center security market growth is the growing demand for advanced security solutions. The rise in the number of online threats and cybercrimes has resulted in the growth of the data center security market. Besides, the increase in the number of sophisticated attacks, virtualization & cloud computing and rising data usage has resulted in the pressing need for secured connectivity across platforms.
Furthermore, monitoring solutions and physical capabilities are some of the key drivers of the data center security market. Shifting trends in the market such as dynamic power variations and power density have resulted in the replacement of conventional personnel-based monitoring systems. Besides, these shifting trends have brought about new opportunities such as integrated physical and logical solutions and micro-segmentation of data which are augmenting the need for more data centers.
Market players through advanced and effective product solutions are trying to meet the growing requirements of rapidly advancing industries and augmenting the demand for data center security solutions.
Trends in Data Centre Security Market by Region:
Key market players around the world have adopted various business strategies to sustain, grow and develop in the video streaming market. Various business strategies that have been employed by organizations around the world are partnerships, acquisitions, mergers and other related commercial agreements which have assisted conglomerates to develop and provide services to a large group of people worldwide.
Through such collaborative agreements between market players and governments and other allied government agencies in the North American region have resulted in significant development of the market on the whole. The North American region holds a significant market share and is projected to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by the adoption of strict regulations regarding online data breaches. Moreover, rising investment in the region and the opening of new data centers in the region is augmenting the growth in the data center security market. Additionally, the growing demand for cloud-based solutions is another driving factor in the region.
APAC is forecasted to grow at the fastest rate in the coming years. The APAC region has become a growing hotspot for data center operations as a large number of businesses and brands are expanding their businesses in the region and due to an increasing need for data center security solutions. Further, global MNC such as Google, Amazon, and Microsoft are considering APAC as a desirable region for their data centers. For instance, Microsoft recently announced the expansion of their data server market to four regions, namely Indonesia, Taiwan, Malaysia and New Zealand. Countries such as China, India are expected to grow progressively owing to the rapid expansion and development of the Information, Communication and Technology (ICT) Industry. These highly competitive markets have incentivized several global companies to enter these countries to expand their data center portfolios. Moreover, governments in countries like India are formulating new schemes to incentivize more companies to set up hyper-scale data centers in the region to boost the capacity of the existing data centers.
COVID Insights
Data security is paramount to companies as it protects them against cyber-attacks but the need for Data Center security has exponentially risen during the pandemic owing to unforeseen threats that could affect business infrastructure and its operations. The pandemic has led to an increase in the number of online users, resulting in the growing demand for bandwidth and storage capacities. Individuals, educational institutions and businesses have resorted to digital means to conduct their business, thereby increasing the need for data center security solutions to safeguard and protect their data against any malware.
Connected System for Immersive Logistical Experience
BlogConnected logistics is an interdependent and resilient arrangement of communication devices, joints, and Internet of Things (IoT) technologies that offer services and solutions which facilitate supply chain integration to logistics businesses and change the important logistical procedures to turn more customer-centric by sharing data, information, and facts with the supply chain partners. The advantages offered by connected logistics include real-time accessibility, enhanced operational coherence, and upgraded productivity through facilitating the integration of multiple connected platforms. Connected logistics intends in making and upgrading collaborations between all accomplices occupied with the logistics network by permitting center administrators to screen the internal and external traffic. This leads to more straightforwardness and improved efficiency.
The connected logistics market arrangements and administrations offer support of dynamic and constant observing of inventory network exercises, especially, logistics and stockroom-related exercises, giving extensive authority over different assignments in the inventory network environment. The security arrangement is blooming quickly attributing to the expanding selection of IoT logistics arrangements and developing security concerns.
Growth of E-Commerce and Government Incentives to Facilitate Market Growth
The increasing market size of the connected logistics market is also due to the rising disposable incomes facilitating the smartphone and internet penetration in developing countries. This is propelling the growth of e-commerce which is further facilitating the connected logistics market.
Facilitating government approaches are advancing the arrangement of SMEs across the logistics network. As the production network turns out to be increasingly perplexing, the interest for these arrangements will increment because of the guaranteed viability of the logistic network and successful checking of stock. This will improve organization productivity and will likewise expand the interest in connected logistics arrangements.
Reception of IoT to Contribute to Increasing Adoption
The main considerations that are relied upon to support the development of the connected logistics market in the coming years are the decrease in the cost of the sensors, appeal for operational proficiency, and the progressing of IoT connecting gadgets. The expanding cost of power and related ecological issues like carbon emission and contamination are empowering the shift from conventional transportation strategies towards IoT-empowered associated logistical arrangements. They influence sensors, cloud innovation, and IoT networks to distantly oversee, screen, and control supply network activities. The reception of IoT has improved the productivity of the inventory network stage for the logistic and transportation industry. It gives total permeability and quicker discovery of organization problems that helps in successful and convenient dynamic. Likewise, improved production network perceivability prompts long-haul cost reserve funds. Accordingly, the interest for loT-empowered arrangements is extending across different mechanical verticals, including assembling, transportation, and automobile.
Demand for Innovative Vehicles – An Opportunity
Autonomous trucks and vehicles have various advantages across different enterprises that are battling with the interest for more limited conveyance times. Consequently, the inclining requirement for these vehicles across sectors like FMCG, medical, and manufacturing, for the transportation of products is propelling the growth for connected logistics innovation. The developing versatility need has underlined difficulties, for example, unpredictable oil costs, enormous speculation, and managing emanations. So, vital market players are associated with innovating technical vehicles that are equipped for meeting the future necessities of the industries and society. The specialized vehicles utilized in supply chain and logistics help in improving both the proficiency and security of transportation, along with upgraded natural manageability. Besides, the expanding accessibility of associated drones is driving this interest to the developing number of specialized vehicles.
Lack of Uniformity and Security Concerns to Restrain the Market Growth
The lack of uniformity in the logistical systems is set to restraint the growth of the connected logistics market. The differentiated costs and uneven regulations among the states in the country and further among different countries pose a challenge to the connected logistics market. Additionally, safety and security concerns are further hurdles in the market growth. Because of the enormous number of devices associated with the connected framework, messing with even a solitary device in the network can end up being a possible danger for the organization. That said, a significant amount of Research and Development is being carried out by the major market players to eliminate these challenges through innovative solutions.
Impact of COVID-19 Pandemic
The advent of the COVID-19 pandemic has positively impacted the market size of the connected logistics market. Due to the social distancing norms and lockdowns imposed in the countries to curb the spread of the virus, consumers readily adopted online retailing. This led to a further rise in the accessibility of e-commerce platforms fueling the growth of the connected logistics market. The consumers resorted to panic buying essentials to stock their homes given the unpredictability of the situation. This prompted the use of company websites for purchases too creating further demand in the connected logistics market.
North America to Dominate the Market
By geography, the global connected logistics market can be studied across North America, South America, Europe, Middle East, and Africa, and the Asia Pacific. North America holds the largest share in the market because of the early reception of the innovation and the presence of a grounded web framework. The countries embraced associated connected logistics arrangements that influenced innovations like, machine learning, cloud computing, data analytics, big data, deep learning, the Internet of Things, and artificial intelligence. The presentation of new advancements and the pattern towards distributed computing is facilitating companies in assuming better responsibility for the supply chain and improve the general benefit to the organizations. The Asia-Pacific region is also expected to grow at a significant rate due to the rising penetration of smartphones and the internet and the flourishing e-commerce industry in emerging economies.