Remote Diagnostic Market – Early Adoption of Technology Makes North America Leading Segment

Players in the global remote diagnostics market are raising the competition bar through product differentiation and after-sales support and service to customers, notes a new publication by Transparency Market Research (TMR). Among them, Robert Bosch GmbH, Continental AG, OnStar LLC, Mercedes-Benz, Magneti Marelli S.p.A., Delphi Automotive plc, Softing AG, Voxx International Corporation, and Vector Informatik are a few key companies.

A report by Transparency Market Research forecasts the global remote diagnostics market to register an impressive 14.8% CAGR between 2017 and 2025. If the figure holds true, the market’s valuation of US$12.88 bn in 2016 is expected to reach US$42.04 bn by 2025.

Depending upon application, the global remote diagnostics market can be segmented into roadside assistance, vehicle tracking, state alert, crash notification, and training assistance. Of these, in 2016, the segment of roadside assistance stood as the leading contributor in terms of revenue. Increasing demand for safety and security features of vehicles is the key factor stirring growth of roadside assistance segment.

The segments of the remote diagnostics market in terms of vehicle type are commercial vehicles and passenger vehicles. Of the two, passenger vehicles led the market in 2016 revenue-wise.

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The key geographical segments into which the global remote diagnostics market is divided are North America, Asia Pacific, Middle East and Africa, Europe, and Latin America. North America powered by the U.S. led the market in 2016 in terms of revenue due to early adoption of technology.

Vehicle Safety Regulations Stokes Growth

At the forefront of driving growth in the global remote diagnostics market are strict regulations for emissions and fuel economy across the world. Government agencies issue emission standards in order to curb hazardous vehicular emissions. This is where remote monitoring systems are useful to monitor carbon and other harmful gases emitted from vehicles. In 2011, the U.S President announced an agreement with key automakers to double fuel efficiency to nearly double to 54.5 m.p.g, by means of which motorists can save fuel costs up to US$1.7 trillion over the lifespan of vehicles. While vehicular emission standards are region specific, the use of remote vehicle diagnostics ensures that vehicles discharge particulate matter within permissible limits. This factor is likely to greatly influence the remote diagnostic market during the forecast period.

Additionally, demand for remote vehicle diagnostics solutions is on the rise as part of technological advancement of the automotive industry. Connectivity technologies that are used in remote diagnostic solutions include Bluetooth, 3G/4G, and GPS.

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Another significant growth driver of the market is increasing demand for safety and security and awareness about vehicle diagnostics. This is because consumers in developed and developing countries are opting for remote diagnostics systems for four service areas, which are GPS navigation, wireless safety communication, integrated hands free cell phones, and automatic driving assistance systems. Moreover, increasing safety standards in place by governments is also responsible for the increased use of remote diagnostic systems.

Concerns of Vehicle Hacking Crimps Growth

Despite several driving factors, there are several factors restraining the growth of remote diagnostic market. The key among them is concern related to data security. This is because modern vehicles are equipped with hi-tech devices to observe the status of the vehicle at all times. However, this poses risk of vehicle hacking using computer-generated information with respect to vehicle functionality and driver information.

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SD-WAN Market – Booming Retail Sector Propelling Growth in Asia Pacific

The market for SD-WAN, acronym for software-defined wide area network, holds massive potential. It is highly competitive on account of savvy players launching more cutting-edge products every now and then. The players are also seen to be leveraging strategic partnerships to enhance their positions further. Some are offering both on-premise and could-based WAN management solutions to tap into more service providers and large companies.

Some of the prominent participants in the global SD-WAN market are Silver Peak, Inc., Cloudgenix Inc., Nuage Networks, Talari Networks, Inc., VeloCloud Networks, Inc., Fatpipe Networks Inc., Versa Networks, Inc., Viptela, Inc., Riverbed Technology, Inc., and Citrix Systems, Inc.

A report by Transparency Market Research finds that the global SD-WAN market will expand at a cracking pace in the years to come. It projects the market to expand at a phenomenal 51.4% CAGR between 2017 and 2025. Rising at this rate, the market will likely become worth US$34.35 bn by 2025.

Depending upon the type of vertical, the global SD-WAN (software-defined wide area network) market can be divided into retail, banking, financial services, and insurance (BFSI), healthcare, IT and telecom, government, and manufacturing, among others such as oil and gas and mining and transportation. Among them, the BFSI segment is predicted to account for a dominant share in the market on account of their swift uptake of SD-WAN solutions. In terms of growth rate, however, the manufacturing segment is slated to outpace the others by clocking a phenomenal CAGR of 53.0% between 2017 and 2025.

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Based on geography again, the global SD-WAN (software-defined wide area network) market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, of them, serves most of the demand in the market on the back of the BFSI sector. The region currently holds the leading share and going forward too is expected to retain that share due to many prominent companies being domiciled in the region. The market in North America is slated to attain a value of US$13.923 bn by 2025.

Proliferation of Data Driving Market

Massive proliferation of data, worldwide, and increased flexibility offered by SD-WAN solution is the primary growth driver in the global SD-WAN (software-defined wide area network) market. Soaring popularity of cloud computing is also leading to growth in the market.  “In addition, the additional safety and ease in resource provisioning associated with SD-WAN solutions are also expected to add to the market’s growth,” explains the lead analyst of the report.

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Dry Shampoo Market – Spray Form Dry Shampoo Sets Tone for Impressive Growth

The global dry shampoo market is gaining from a number of favorable factors. Firstly, dry shampoo has aroused the interest of the growing working-class population, globally, who are looking for hair products that do not require much time for application suitable for their hectic lifestyle. This population group requires frequent hair washes as they are exposed to dirt and pollution while traveling to and from the workplace. Dry shampoo is best suited in this scenario, as frequent use of regular shampoo leads to loss of strength and sheen of hair. The ease of use as it does not require water to reduce greasing from the scalp and hair is also a significant factor boosting the demand for dry shampoo.

Apart from this, the changing consumer preference for natural and organic hair care products is also stoking growth of dry shampoo market. To cater to this, a number of hair care brands have introduced natural and organic variants of dry shampoo, which are attracting a large number of consumers. These variants are not only free of harsh chemicals, which are associated with loss of luster and strength of hair, but also help improve hair health through nourishing the scalp. Further, rising hair fall concerns and the rising prevalence of scalp related diseases are increasingly leading consumes opt for natural and herbal hair care solutions.

The influence of the fashion industry leading individuals to adopt hair care solutions endorsed by models and hair stylists has also been boosting the growth of the dry shampoo industry. The advent of new formula based hair care products briefly gained the interest of models and hair stylists for increasing hair volume and providing rich hair texture. However, excessive use of chemical-based hair styling solutions and frequent shampooing have been associated with severe scalp issues, with baldness being one of them. This has led models and hair stylists to switch to dry shampoo that substitutes chemical-based products for hair styling needs.

According to estimates presented by a report by Transparency Market Research (TMR), the global dry shampoo market will expand at a CAGR of 6.2% between 2017 and 2022 vis-à-vis revenue. Expanding at this pace, the market is likely to become US$4,110.6 mn by 2022-end from its estimated worth of US$3,043.5 mn in 2017.

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Among the key form type segments, spray form is estimated to hold the leading 66.2% of market share in 2017. In absolute numbers, the spray form segment is estimated to be valued at US$2,016.3 mn in 2017. The form spray segment is anticipated to register a CAGR of 6.3% between 2017 and 2022, for the segment to touch a revenue valuation of US$2,738.4 mn by the end of 2022. The form spray type segment is estimated to display the leading year on year absolute growth of US$144.4 mn over the course of the forecast period from 2017 to 2022.

As per function classification, the segments of the global dry shampoo market include anti-dandruff, color protection, hair loss prevention, and others.

From a geographical perspective, the report studies the global dry shampoo market across North America, Europe, Asia Pacific except Japan, Japan, and the Middle East and Africa. Of them, North America is expected to account for the leading revenue contribution of US$1,134.0 mn in 2022. However, Asia Pacific except Japan is expected to register the leading 7% CAGR over the forecast period between 2017 and 2022.

Global Dry Shampoo Market: Competitive Analysis

The global dry shampoo market is competitive with a presence of a considerable number of established players. Key players operating in the global dry shampoo market include The Unilever Group, The Procter and Gamble, Kao Corporation, The Estee Lauder Companies Inc., Shiseido Company Limited, Church & Dwight Co. Inc., Coty Inc., Revlon Inc., Henkel AG & Co. KGaA, and L’Oreal SA.

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Workflow Automation and Optimization Software Market – High Degree of Business Process Automation Makes North America Market Leader

The global market for workflow automation and optimization software market is somewhat consolidated with the five leading players accounting for well over half the share in the market. The key players are Xerox Corporation, Oracle Corporation, International Business Machines (IBM) Corporation, SAS Institute, Inc., and SAP SE.

IBM Corporation, among them, held a leading share of 14.4% in the global workflow automation and optimization software market in 2016. Its focus on developing innovative products such as the cognitive system named Watson has helped it secure a prominent position in the market. It is followed by Oracle Corporation that has managed to bolster its position by designing and developing solutions for cognitive systems, content analytics, and discovery software market.

Similarly, Xerox Corporation, which comes in at the third position in the global market for workflow automation and optimization software has managed to achieve sweeping sales by launching 15 products.

As per a report by Transparency Market Research, the global market for workflow automation and optimization is likely to expand at a healthy CAGR of 8.7% during the period between 2017 and 2025 to reach a value of US$1.456 bn by 2025 from US$0.713 bn in 2016.

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Depending upon the end-use, the global market for workflow automation and optimization can be segmented into education, banking, financial services, and insurance (BFSI), transportation and logistics, healthcare, manufacturing, retail, telecommunications and information technology (IT), etc. Among them, the BFSI segment dominated vis-à-vis revenue in 2016. This is because of banks leveraging improved fraud management solutions, mobile banking, smart automated teller machines (ATMs), etc. to enhance customer experience. In the years ahead too, the BFSI segment is predicted to retain its dominant position and hold 21.1% in the market by 2025.

Geography-wise, the key segments of the market are Europe, North America, Asia Pacific, South America, and the Middle East and Africa (MEA). Of them, North America accounts for a leading share in terms of revenue mainly on account of the high degree of business process automation and presence of numerous vendors of workflow automation. The revenue grossed in the North America workflow automation and optimization software market in 2016 was US$279.6 mn.

Popularity of Business Process Automation Drives Market Growth

Majorly fuelling growth in the global market for workflow automation and optimization software is the growing uptake of third platform technologies and rising demand for business process automation. “Workflow automation and optimization software solutions can be considered as a part of Business Process Management (BPM). It is a software solution, designed for different end-use verticals, to enable businesses to streamline their processes, and function more efficiently. Workflow automation and optimization software allows businesses to improve communication, reduce human errors, enable real-time reporting, and allow integration of third-party applications for added benefits. Such advantages are a major reason for a shift toward digitization of business processes by several organizations,” says the lead analyst of TMR report.

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Cyber Threats Pose Challenge to Market

Posing a roadblock to the rapid shift to workflow automation and optimization software is the risk of cyber threats mainly on account of the vulnerabilities of TCP/IP-based cloud networks. In order to overcome the challenge, vendors in the market are trying to come up with more secure solutions for their customers. Apart from that, employees’ reluctance to adopt automation in business processes is also serving to restrain the growth in the market.

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Solid State Lighting Market – Smart Cities Developmental Projects Ramps up Asia Pacific Market

The global solid state lighting market is anticipated to grow moderately in coming years. Even though the market is in its initial development stage, it is garnering the focus of regional as well as international players. The level of competition has intensified in the past decade, with firms working on developing new strategies for collaborations in order to come up with economical and effective products that would boost sales.

Koninklijke Philips N.V., Panasonic Corporation, Samsung Electronics Co. Ltd., OSRAM Licht Group, General Electric, Eaton Corporation, NICHIA Corporation, and Mitsubishi Electric Corporation are some of the leading companies operating in the global solid state lighting market.

According to Transparency Market Research, the global solid state lighting market is anticipated to grow with a strong CAGR of 8.7% within the forecast period from 2017 to 2025. In 2016, the market was evaluated to be worth US$14.48 bn, and it is expected to reach to US$30.38 bn by the end of 2025. Geographically, Asia Pacific region is currently the leading region vis-à-vis growth and revenue generation. The regional market will from the steady economic growth in countries, namely Indonesia, India, and China in the past few years. The global solid state lighting market is divided into commercial, residential, outdoor, and industrial lighting based on sector. The commercial segment held the most dominant position with major amount of share in 2016 and is also anticipated to stay at the leading position over the report’s forecast period.

There are several factors that are contributing to the advancement of the global solid state lighting market, such as the enormous rise in popularity for energy-efficient lighting in the past couple of years. With a high energy-efficiency, optimum durability, and enhanced profitability, solid state lightings are seeing soaring demand. Being comparatively environment-friendly compared to other famous lighting advances, it is creating monstrous demand in developing and developed economies with progressively stringent environment saving standards in nations, for example, India, China, and Indonesia. The quick rate of urbanization and industrialization in these nations is adding to the growing demand for solid state lighting.

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In addition, the market for solid state lighting is developing due to the immense progression in technological innovations and lessened expenses in Asia Pacific region. Besides, the expanded adoption of Internet of Things innovation and their combination with solid state lighting are likewise anticipated to affect the general improvement of the global solid state lighting market soon.

High Establishment Cost to Bring Down Overall Market Growth

However, on the other side, there are a few factors that could challenge the general development of the global solid state lighting market. One of the major factor anticipated to affect the market is the moderately higher cost of establishment of these lighting frameworks when contrasted with ordinary incandescent and fluorescent lighting systems. By and by, the growth in investments towards the improvement of smart cities could stir demand for solid state lighting in various regional markets.

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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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