Power System Analysis Software Market – Increasing Investments in Smart Grid Technology Bodes Well for Market

With a highly fragmented vendor landscape, the global power system analysis software market is characterized by the presence of large number of regional players spread across geographies. Leading players within the market have established their status by making their presence felt across the globe through strategic alliances and mergers and acquisitions. With a large number of service providers, the global power system analysis software market can be characterized as being extremely competitive in terms of product offerings. General Electric Company, Siemens AG, ETAP, and ABB are the top players within the market. Leading players within the market are focusing extensively on new product development with the motto of increasing the efficiency of the software, states Transparency Market Research (TMR) in its latest research.

According to Transparency Market Research, the global power system analysis software Market be worth US$11,585.7 mn by 2025, expanding at a CAGR of 12.7% between 2017 and 2025. On the basis of geography, it is expected that North America will continue to lead in the market. This region accounted for 33% of the total market in 2016, driven by smart grid systems. In terms of fastest growth, it is expected that Asia Pacific will expand at the fastest CAGR during the assessment period, led by China, India, Japan, and Australia. In terms of implementation model, this market is segmented into cloud-based and on-premise. Of these the on-premise implementation segment accounted for a whopping 81% of the total revenue generated from the overall power system analysis software market in 2016. This growth is on account of on-premise implementation at power utilities buildings. On the other hand, the cloud-based implementation segment will exhibit a steady growth in the forecast. On account of the growing penetration and widespread outreach of the internet.

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According to a TMR analyst, the primary factor fuelling the demand for power system analysis software is the rapidly increasing investments towards smart grid technology. Across the globe, the demand for electricity has increased. This can be attributed to the growing industrialization and urbanization. Therefore, the surge in the demand for electricity has compelled utility companies to boost their production of energy including setting up new power transmission networks as well as boosting their existing power transmission capacity. Utility companies are also focusing on expanding or increasing the capacity of the existing power lines and grades as well as any other associated infrastructure which can enhance the efficiency of electricity production and transmission. With smart power technology requiring system analysis software for the monitoring of great performance as well as for enabling condition-based maintenance, the growth of the power system analysis software market is assured during the forecast period from 2017 to 2025.

Government Initiatives to Boost Smart Power Technologies to Drive Market

Apart from all these factors, the global power system analysis software market also receives impetus from government bodies as well as regulatory agencies which are advocating the implementation of smart power technologies. Government bodies are boosting the adoption of smart water technology by providing incentives. In addition to this, regulatory mandates by concerned bodies will also help boost the growth of the global power system analysis. With increasing deployment of smart grid technology in developing nations, the demand for power system analysis software is also increasing.

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Automotive Sheet Metal Components Market – Steel to Remain Most Preferred Metal

The global market for automotive sheet metal components has a largely fragmented competitive landscape featuring a large number of small and large players and the leading four players collectively accounting for a nearly 40% of the overall market in 2016, observes Transparency Market Research (TMR) in a recent report. Although the market features low entry barriers for new companies, setting up of manufacturing units for automotive sheet metal components require huge capital and resource, thus limiting the scope of growth of new vendors.

Product innovation and development are key strategies adopted by most leading market players. New product innovation is an important strategy to combat the stiff competition in the market. Companies are focusing more on research and development activities to create innovative products to capture and maintain larger market share globally. Focus on expansion across emerging economies with a huge and rising appetite for high-end and passenger vehicles has also significantly increased.

Transparency Market Research states that the global automotive sheet metal components market will exhibit a moderate 3.7% CAGR from 2017 to 2025, rising from a valuation of US$104.30 bn in 2016 to US$142.41 bn in 2025.

In terms of material, steel contributed nearly 60% to the overall revenue accumulated by the global automotive sheet metal components in 2016 and is expected to remain the most preferred metal over the forecast period as well. In terms of geography, the global automotive sheet metal components market is presently led by the Asia Pacific market. China, one of the largest manufacturer of sheet metal components globally and one of the leading consumers of passenger vehicles, is expected to continue to drive the Asia Pacific market over the  next few years, helping the regional market retain its top spot in the global market over the forecast period.

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Rising Production of Vehicles Globally to Drive Market

In the past few years, there has been a vast rise in the production of vehicles across the globe owing to the rising demand and usage of passenger vehicles. This, coupled with the rising demand for lightweight vehicles, is driving the demand and growth of sheet metal components used in the production of automobiles. A small percentage of hybrid and electric vehicles are already available in the market and the percentage is expected to grow at a healthy pace in the coming years owing to their least impact on the environment in the form of emission of pollutants.

With the rise in the number of hybrid and electric vehicles in the automobile market, the application and market for sheet metal components in such vehicles is also expected to flourish in the near future. Moreover, the strengthening trend of engine downsizing of automobiles is expected to influence the growth of the automotive sheet metal components market globally.

Fluctuating Prices of Steel and Aluminum to Hinder Growth Prospects

As steel and aluminum are the two most used materials used for the manufacturing of automotive sheet metal components so their availability and fluctuation in prices make a huge impact on the overall market of automotive sheet metal components. China is the presently the leading producer of aluminum and steel globally. However, the country has been curbing its production of these metals to curb the level of air and water pollution.

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Cognitive Systems, Content Analytics and Discovery Software Market – Machine Learning Projected to be Most Attractive Application Segment

The global market for cognitive systems, content analytics and discovery softwarefeatures a highly consolidated competitive landscape, wherein the top five companies cumulatively accounted for a massive 79% of the overall market in 2016, observes Transparency Market Research in a recent report. These, top vendors, namely IBM Corporation, SAP SE, Oracle Corporation, Google Inc., and Microsoft Corporation command stronghold on the global market owing to their immense focus on research and development and introduction of innovative products. An instance is the introduction of IBM Watson Imaging Clinical Review, a cognitive imaging solution, by IBM Corporation in March 2017.

To reinforce their hold on the market, leading vendors are also keen on partnering and acquiring companies in the fields of cognitive systems, content analytics and discovery software. For instance, SAP SE announced its acquisition of Roambi, a leading cloud analytics company, in February 2016.

Transparency Market Research estimates that the global cognitive systems, content analytics and discovery software market, which valued at US$9.88 bn in 2016, will exhibit an exponential CAGR of 23.5% over the period between 2017 and 2025, rising to a valuation of US$60.06 bn by 2025.

In terms of application, the segment of natural language processing held the dominant share in the overall revenue earned by the global market in 2016. The vast rise in usage of smart devices is one of the key factors strengthening the growth prospects of the natural language processing segment. The segment of machine learning is likely to be one of the most attractive application segments for the global cognitive systems, content analytics and discovery software market during the forecast period.

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In terms of geography, North America dominated the global market in 2016. Early adoption of this technology and increasing volume of unstructured data are the key factors attributed to the stronghold of North America on the global cognitive systems, content analytics and discovery software market.

Rising Usage of Artificial Intelligence across Numerous Application Areas Key to Market Growth

One of the key trends significantly pushing up the global demand for cognitive systems, content analytics and discovery software is the rising usage of artificial intelligence across a rising areas of application. Significant advancements in data processing technologies and the mounting rise in large, diverse, and highly complicated data sets, and vast developments in the field of machine learning are leading to a vast rise in the window of opportunity for artificial intelligence, which, in turn, has emerged as one of the key driving forces of the global cognitive systems, content analytics and discovery software market.

Furthermore, innovations in natural language processing are also bolstering the demand for cognitive systems, content analytics, and discovery software market. Voice-driven interface development platforms, social media analytics, and conversational computing using semantics learning are some of the most notable innovations in the field of natural language processing. The expanding set of application of these technologies is boosting the demand for cognitive systems, content analytics and discovery software market.

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Technological Advancements to Boost Global Card printing ribbon Market

According to a new study by Transparency Market Research (TMR), the business landscape in the global card printing ribbon market is highly competitive. Zebra Technologies, Entrust Datacard Corp., IdentiSys Inc., HID Global Corp., Evolis SA, NBS Technologies Inc., AlphaCard, Unicard Systems Pty. Ltd., Dai Nippon Printing Co. Ltd., and Idp Corp. are some of the leading players in this market. They are likely to focus on mergers and acquisitions in the years to come for further expansion in their businesses, states the report.

As per the research report, the global market for card printing ribbon is registering a significant rise in their valuation and are expected to remain doing so over the next few years. Among the card printing ribbons, available across the world, the demand for full color print ribbons is relatively greater than others and this trend will continue to over the period of the forecast. The full color print ribbons segment is expected to acquire a share of more than 65% in the global market by the end of 2017.  Additionally, the segment is expected to touch a valuation of US$600 mn by the end of 2022. Based on the industry, the demand for card printing ribbons is higher in the retail and hospitality industry and it is expected to continue like this during the assessment period. Currently, the retail and hospitality segment has occupied a share of nearly 33% and is projected to remain increasing in the years to come, states the research report.

In terms of the region, the worldwide market for card printing ribbon reports its presence across Asia Pacific excluding Japan, Europe, the Middle East and Africa, North America, and Latin America. With the augmenting demand for card printing ribbons in emerging economies, such as India and China, Asia Pacific excluding Japan has surfaced as the leading regional market for card printing ribbons across the world and is expected to retain its supremacy over the next few years, notes the market study.

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“The technological advancements in cards, nowadays, such as equipping cards with security management tools, are influencing the global market for card printing ribbons significantly,” says an analyst at TMR. In addition to this, the enforcement of new safety and security rules and regulations, has mandated the utilization of identity cards in many institutes and offices, which, in result, is likely to boost this market over the next few years. Apart from this, the increasing adoption of cards in the government and medical and healthcare organizations is also expected to propel this market in the years to come, states the research report.

Absence of Quality Standard to Hamper Market’s Growth

The lack of standards in card printing methods across the world may hamper the growth of the global card printing ribbons market in the near future. However, the increased cost efficiency of card printing due to the rising usage of novel technologies is expected to normalize the impact of these restraints over the forthcoming years, reports the research study.

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High Penetration of IoT Nurtures Growth of Global Smart Rings Market

Transparency Market Research (TMR) observes that competition in the global smart rings market is slated to intensify in the coming years due to the strong presence of several players. To stay ahead of the cut-throat competition, players are focusing on product innovation such as rings enabled with next generation NFC and better payment technologies. Some of the leading players in the market are McLear Ltd., Logbar Inc., Fujitsu, and Moodmetric.

According to the research report, the global smart rings market is likely to be worth US$11.44 mn by the end of 2025 from US$1.67 mn in 2016. During the forecast years of 2017 and 2025, the global market is expected to progress at a CAGR of 24.0%. Out of the three operating systems, the android operating system segment held a dominant share in the global market. This segment is expected to acquire a share of 57% in the global market by the end of 2025 due to the growing popularity of android smartphones. From a geographic point of view, the global market is likely to be led by Asia Pacific as emerging economies are slated to be key consumers of smartphones. Analysts expect that the Asia Pacific region is likely to surge at a pace of 25.1% in the global market over the forecast period.

The global smart rings market has been flourishing due to major advancements in technologies such as Internet of Things (IoT) and its acceptance. The new-age smartphones that come with smart watches and rings for receiving emails, messages, phone calls, and notification about posts on social networking sites have augmented the growth of the global market. The incredible support offered by IoT to these functionalities has been a great boon to the global market. In the coming years, the ability of smart rings to store incredible amount of data such as text messages, emails, phone calls, authentication and access control details, and payment details is anticipated to favor market growth in the near future.

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The growing disposable income of the younger population and the increasing awareness about better technologies have been instrumental in shaping the future of the global smart rings market. Analysts anticipate that demand for smart rings will remain persistent in the healthcare sector. Both patients and physicians are expected to show a significant demand for smart rings are these held in monitoring heart beats, pulse rates, and blood pressure levels, which could be signs and symptoms of a larger ailment. The increasing health risks due to poor lifestyles have augmented the demand for smart rings to ensure prevention instead of cure.

Lack of Interest from Big Players becomes Challenge for the Global Market

The high dependency on battery has been identified as a key challenge for the global smart rings market. The inconvenience of charging smart rings with dongles or cables has made the experience of using them unenjoyable. Furthermore, the market still continues to be in its nascent stage and is long way to go before it evolves thoroughly. Owing to these reasons, several big players are refraining from making heavy investments in this market, which has also been assessed as a limiting factor.

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Workspace as a Service (WaaS) Market – Education and Healthcare Sectors to Create Promising Growth Opportunities

The global market for workspace as a service (WaaS) is moderately consolidated, with the top three vendors, VMware, Inc. Citrix Systems, Inc., and Amazon Web Services, Inc., collectively accounting for a revenue share of nearly 57% in the global market in 2014, states TMR in a recent report. The market features an extreme level of competitiveness, with large companies persistently investing funds to expand their WaaS solution portfolios while small- and medium-scale companies gaining increased control of regional markets by introducing innovative and economic solutions.

The scenario, however, has led to the growth of a vast number of viable acquisition opportunities that could enable large vendors in becoming a dominant force in the global WaaS market. Key vendors in the market have been able to carefully exploit these opportunities and combine their existing strengths with smaller companies having excellent product offerings or technological prowess. The acquisition of Framehawk, Inc., a company known for its Lightweight Framebuffer Protocol that is created to work on inconsistent, high-latency networks, by Citrix Systems, Inc. in January 2014 is one such instance.

Transparency Market Research states that the global WaaS market, which held an opportunity of US$7.4 bn in 2014, is expected to expand at an excellent CAGR of 12.10% over the period between 2015 and 2022. Growing at this pace, the market is projected to rise to US$18.3 bn by 2022.

Constantly Transforming Work Environments Compel Adoption of WaaS Solutions

Globalization, increased integration of mobile computing devices in corporate networks, increased level of digitization of workplaces, and the vast and continuous transformations in work environments triggered by these trends increase the overall complexity of corporate networks. The software patches and upgradations required to effectively manage such changes are highly capital and resource intensive. As a way to limit the overall rise in costs and space that such transformations and expansions prompt, companies are preferring to deploy an increased number of services as workspace as a service solutions.

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Along with this, the rising trend of enterprise mobility and adherence of practices such as bring-your-own-device (BYOD) is also fueling the need for adopting WaaS solutions across enterprises. A vast variety and numbers of mobile computing devices are being used on a frequent basis by employees to access corporate data. The capability of effective WaaS solutions of seamlessly allowing employees to access their work desktops from a remote place using their personal computing devices is increasingly becoming a necessary part of carrying out every day work across many organizations.  These factors are expected to have a substantial positive impact on the overall development of the global WaaS market over the period between 2015 and 2022.

Network Bandwidth and Infrastructure Limitations to Hamper Growth

The overall global adoption of WaaS solutions is largely reliant on the quality and speed/bandwidth of communication channels and digital infrastructure necessary for the implementation of workspace as a service solutions. As networking infrastructure is not fully and equally developed across the globe, the limited availability of the bandwidth necessary for a WaaS solution to function properly may hamper the overall growth prospects of the global WaaS market in the near future.

Desktop as a Service To See Considerable Demand

In terms of product type, the segment of desktop as a service is presently the dominant contributor to the global market’s overall revenues. In 2014, the segment contributed US$2,959.3 mn to the global market. It is also expected to remain the dominant product type over the next few years, in terms of revenue contribution. However, the segment of application as a service is expected to emerge as the most promising product variety, expanding at a CAGR of 27.7% from 2015 through 2022. The banking, financial services, and insurance (BFSI) industry is presently the most prominent end-use industry, contributing US$2.25 bn to the global market’s revenues in 2014. North America leads in terms of geographical segmentation of the global WaaS market.

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Wearable Sensor Market: Rising Adoption of Multifunctional Smart Devices in Monitoring Wellness among Populations Bolsters Uptake

Some of the leading players operating in the global wearable sensor market are NXP Semiconductors N.V., InvenSense, Inc., Infineon Technologies AG, Freescale Semiconductor Inc., Panasonic Corporation, Broadcom Corporation, and Analog Devices, Inc., notes Transparency Market Research (TMR). In the recent few years, several top manufacturers have been focusing on adopting advanced sensor technology to develop smarter wearable devices that can be used in a wide range of applications areas, observes TMR. The advent of smart watches and intelligent consumer devices has opened up lucrative avenues for market players, which is expected to intensify the competition in the coming years.

The worldwide market for wearable sensor is predicted to rise at a substantial CAGR of 45.20% during 2014–2020. The market stood at a valuation of US$70 mn in 2014.

Wearable Image Sensors to Witness Substantial Demand

Based on product type, the wearable sensor market is segmented into motion sensors, medical based sensors, pressure sensors, temperature sensors, image sensors, and position sensors. Of these, the wearable image sensor segment is projected to rise at the leading CAGR over the forecast period. The impressive growth of the segment is primarily attributed to their substantial applications in mobile devices in the area of infotainment and defense.

Based on geography, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Of these, the North America market for wearable sensor held the leading share of in 2014 and is anticipated to rise at an impressive pace over the forecast period.

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Reducing Average Price of Wearable Sensors Unlocks New Opportunities

The growing number of applications of sensors in a variety of smart wearable devices, primarily to monitor and track several health parameters, is a key factor driving the wearable sensors market. Wearable smart devices have gained traction in the healthcare industry useful for the monitoring of various parameters such as blood pressure, heart rate, and body temperature. The increasing focus of populations about managing their health and fitness in real time has boosted the demand for wearable sensors in making smart devices. The growing popularity of proactive monitoring of patient data among healthcare providers to prevent life-threatening complications has further bolstered the uptake of wearable sensor technology.

However, the mounting security and compliance concerns in smart wearable devices has hindered their adoption, which is likely to impede the wearable sensor market to an extent. Nevertheless, the rising efforts by manufacturers in the integration of wearable sensors with multifunctional smart devices is a key trend expected to accentuate the market. The growing focus of leading technology players such as Google and Microsoft in developing sophisticated devices bodes well for the wearable sensor market. In addition, in the coming years, the cost of raw materials used in manufacturing smart devices is likely to reduce, thereby increasing the penetration of wearable sensors. In addition, recent advancements in manufacturing methods, such as 3D printing, has opened up new avenues of growth for market players.

Recent mainstreaming of fitness bands and smart watches among consumers in various developing and developed regions has catalyzed the growth of wearable sensor market. Furthermore, substantial research in sensor and recent design innovations in smart wearable devices are crucial factors expected to unlock exciting opportunities for market players in the coming years.

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