Mobile Money Market – Burgeoning Mobile Penetration in Emerging Economies to Accentuate Growth

Some of the players that hold dominance in the global mobile money market are PayPal Holdings, Inc., Square, Inc., WePay, Inc., Boku, Inc., and Fortumo OÜ. The entry of new players is intensifying the competitive landscape. As competition heats up, there is emergence of companies such Judo payments, Bango.net Ltd., and Dwolla, Inc. rising to the forefront, observes Transparency Market Research. The leading players account for a share of 40% in the global market in 2015.

Prominent players are consolidating their positions by opting for acquisitions. Several key players are focused on develop advanced products with innovative features and advanced functionalities, in a move to gain a competitive edge over others. A number of emerging and established players are targeting small- and medium-sized enterprises and offering user-friendly and secure mobile payment features in order to fortify their presence in the global market. As a part of short-term strategy, these players are tapping lucrative opportunities in the economies of Middle East and Europe.

The global mobile money market is projected to rise at an impressive CAGR of 22.0% from 2016 to 2024. The market was valued at US$17.25 bn in 2014, vis-à-vis revenue.

The various modes of payment for mobile money broadly comprise SMS, NFC, mobile billing, and USSD/STK. Of all the modes, the SMS mobile payment segment held the dominant position in 2015 and is anticipated to hold its sway throughout the forecast period.  The market is projected to rise at a leading pace through 2024. The growth of the segment is driven by their vast uptake attributed to significant convenience and marked ease of SMS payments.

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Regionally, the market is segmented into the Middle East & Africa (MEA), Latin America, Asia Pacific (APAC), Europe, and North America. Of these, Europe held the leading share of the global market and is predicted to retain its top position throughout the assessment period. However, the MEA is projected to rise at major CAGR during 2016 – 2024. The stellar growth of this regional market is attributed to the rising Internet and tablet penetration and substantial advancements in the telecommunication technology sector.

The burgeoning penetration of smartphones and mobile telephony in numerous emerging economies is a key factor driving the demand for mobile payments. The extensive demand for SMS-based payment operations is attributed to the marked convenience of these operations.

The vast popularity of transactional payments via SMS in various countries of the MEA, APAC, and Europe has accentuated the growth of the market. The rapidly emerging demand for mobile billing, WAP-based payments, and payment clients in various developing and developed economies is boosting the mobile money market. In addition, the rising prominence of money transfers and payments segment is a key factor driving the market.

The advent of more secure mobile payment methods is bolstering the demand among affluent consumers in developing and developed nations. The demand for secure payments among BFSI, hospitality, and energy sectors is providing a robust impetus to the growth of the market. In addition, NFC and UUSD/STK modes of mobile payments are gaining traction in the coming years. Furthermore, the growing popularity of airtime transfers and the vastly rising demand for top-ups are notable factors catalyzing the growth of the market.

Financial Data Breach Concerns Key Impediment, Rising Telecom Sector to Present Lucrative Avenues

The mounting concern of phishing attacks, data breach, and financial data manipulation among mobile users is a crucial factor likely to hinder the market. In addition, presence of disparate systems across different transactions and services is also impeding the growth of the market to an extent. In addition, the lack of well-defined financial inclusion policies practiced by governments is a key factor acting as a bottleneck to the market. Be that as it may, the growing mobile penetration in several emerging markets has unlocked a slew of opportunities for telecommunication operators to capitalize on. In addition, the substantially rising demand for mobile payments features among connected device manufacturers and service providers is a key factor expected to open up exciting prospects in the market in the coming years.

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Magnetic Ink Character Recognition (MICR) Devices Market – Need for Fast and Secure Document Management Technology Boosts Demand

Some of the prominent participants in global magnetic ink character recognition (MICR) devices market are ACOM Solutions, Inc., Canon, Inc., Hewlett Packard Company, Epson America, Inc., Murni Solusindo Nusantara, MagTek, Inc., Panini SpA, Rosetta Technologies, Inc., Vertical Infonet Pvt.Ltd., Source Technologies, Troy Group, Inc., Xerox Corporation Ltd, Uniform Industrial Corporation, and ZIH Corp.

A recently published research study by Transparency Market Research predicts the global market for magnetic ink character recognition devices to grow at tepid pace in the years to come. As per the report, the market is expected to clock a 1.6% CAGR during the period from 2017 to 2025 to become worth US$665.6 mn by 2025.

MICR printing and recognition technology are the two main types of technologies employed in the global magnetic ink character recognition (MICR) devices market. The recognition technology accounted for over 60.0% share in the market in 2016 because of the growing demand for secure and efficient check and financial document processing across the industries.

Geographically, the key segments of the global market for magnetic ink character recognition devices are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific led the market in 2016 with maximum share. The ability of MICR to increase speed of check processing and also authenticate the validity of financial documents has created demand for them in the financial sector particularly. By registering a CAGR of 2.3% in the forecast period, the market in Asia Pacific is expected to retain its leading share in the years ahead too.

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Magnetic ink character recognition (MICR) is a technology used to validate the originality or legitimacy of paper documents, specifically checks. Their demand is primarily fuelled by the need for fast and secure document management technology across nations worldwide. Besides, end-users such as government, retail, transportation and banking, financial services and insurance (BFSI) are also contributing to their demand. They rely on MICR technology for high-performance, high-quality and cost-effective financial document and check printing. For example, the pressing need for further optimizing the check processing speed is expected to offer growth avenues to the market for magnetic ink character recognition devices.

Steep Cost of Printers and Readers Thwart Demand

Posing a roadblock to the market, on the other hand, is the steep cost of magnetic ink character recognition (MICR) readers and printers. “In addition, MICR readers have the capability to recognize only MICR fonts written in a specific format and can only accept a few different characters, which is also restricting the growth of MICR devices market across the globe,” explains the lead analyst of the TMR report.

Emergence and subsequent popularity of digital transactions has dealt a major blow of the global magnetic ink character recognition (MICR) devices market. Further, thrust on advanced technologies for banking and financial sector is expected to hinder the growth of this market. However, incorporation of MICR readers in ATM machines is the expected to create demand for MICR readers across the world.

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Mining to be Leading Revenue Generator for Global Ship loader & Unloader Market

The worldwide ship loader & unloader market is relied upon to display a solid development through the span of the estimated time frame. The study of worldwide ship loader & unloader has been minutely examined and researched upon by Transparency Market Research (TMR). The market research report displays a far reaching examination of the worldwide radar market alongside a framework of the opposition existing among the center players working in the market. The competitive scene segment incorporates a few parts of the key players, for example, advancement and improvements center systems, product portfolio, prime work force, region covered, acquisitions, agreements, mergers, and other monetary and non-budgetary techniques. As the players operating in the global ship loader & unloader market strive to present customers with differentiated products in order to sustain in the market, the competition is likely to increase in the years ahead. The companies operating in the market are FLSmidth, AUMUND Group, ZPMC, SMB Group, Sandvik, VIGAN Engineering S.A, NEUERO, AMECO, EMS-Tech, Buhler, and Xinapse Systems Ltd., among others.

According to TMR, the global ship loader & unloader market is anticipated to witness a meagre CAGR of 3.1% over the course of the forecast period.

On the basis of region, the global ship loader & unloader market has been segmented into North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and the Middle East and Africa.  Among these, Europe is expected to emerge as the leading region in terms of demand and consumption of ship loader. The region is expected to reach a valuation of over US$17,800 Mn by the end of 2026. The growth of the region can be attributed to the rising sea trade from in countries such as Spain, Italy, Russia, the U.K., France, and Germany. The ongoing construction of ports and the need for port material handling equipment that is used for the loading and unloading of bulk cargo is one of the core factors that is expected to trigger the growth of the ship loader & unloader market in Europe.

Based on product type, the global ship loader & unloader market has been bifurcated into stationary and mobile. By the end of 2026, there is going to be a close competition between these with valuation and growth rate near to the edge of the other one.

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On the basis of technology type, the market has been divided into mechanical and pneumatic. Between these two, mechanical led the market in terms of value crossing US$31,800 Mn by 2026 end. However, pneumatic is expected to lead the market over the course of the forecast period in terms of CAGR.

In terms of application, the global ship loader & unloader market has been classified into mining, packaging, construction, manufacturing, sea ports and cargo terminals, and others. Amongst these, mining is expected to dominate the market closely followed by sea ports and cargo terminals.

Based on bulk type, the global market for ship loader & unloader has been bifurcated into dry and liquid with dry leading the market throughout the course of the forecast period. The use of ship loader & unloaders more in the dry bulk type other than liquid because they are easy to carry and are hassle free as well.

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Secure Web Gateway Market – Cloud-based Applications Spike Demand for Better Secure Web Gateways

Transparency Market Research observes that competitive landscape in the global secure web gateway market is moderately fragmented. Each big and new player has been closely watching the IT market to understand its impact on the demand of secure web gateways. Companies such as IBM Corporation, Forcepoint, Symantec Corporation, Cisco Systems, Inc., and Sophos Group Plc are expected to develop affordable solutions to cater the growing demands of small enterprises, which in turn to will help the players to expand their horizons. A shift toward cloud-based solutions will be seen in the forthcoming years as companies try to make the most of this technology.

According to the research report, the global secure web gateway market is expected to be worth US$12,443.0 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is expected to surge at a CAGR of 20.7%. The report also suggests, that the solution segment will prosper more than the software one. Geographically, North America is expected to stand out as the culture of Bring Your Own Device (BYOD) is becoming an important aspect of the professional setups.

Numerous advancements such as threat intelligence integration, automated real-time breach detection and prevention platforms and implementation of stringent laws and regulations are expected to boost the secure web gateway market. Infrastructural developments and increasing technological enhancements in web security products and solutions in various emerging economies have been identified as the key growth drivers for the global market. Email gateway solution segment is projected to grow at highest CAGR over the forecast period due to increasing need to filter an emails that contains suspicious content, attachments, URLs and spam filtering. Launch of innovative secure web gateway solutions by number of players and growing IT spending have also made a significant difference to the positive earnings of the global market.

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Multiple web security solutions and services providers are now offering advanced cloud based web security solutions. This emerging trend is expected to work in favor of the global market over the forecast period. Increasing adoption of secure web gateway solutions in BFSI industry is in order to protect banking and financial services firms and safeguard critical financial data from exposure and online frauds is anticipated to augment the global market. Rapid uptake of cloud-based applications has also spiked the demand for secure web gateway solutions amongst small and medium enterprises. Analysts anticipate that growing usage of advanced data storage technology will also have a positive effect on the global market. The wave of digitization in emerging economies is expected to create myriad lucrative opportunities for the global market in the forthcoming years.

Lack of Acceptance of Newer Technologies to Negatively Impact Market

On the downside, the global secure web gateway market is negatively impact by the slow process of transformation to cloud, especially for individual organizations. Furthermore, the initial high cost of investment for adopting new solutions and training personnel is also expected to dissuade end users. Furthermore, lack of awareness about secure web gateways and poor rate of acceptance amongst various enterprises are expected to hamper the growth of the global market. The strong presence of traditional firewall solutions is also projected hamper market growth in the near future.

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Brain Computer Interface Market: Market Revenue is Prognosticated to Stand at US$ 1,232.6 Mn by 2024

Wearable medical devices are swiftly gaining popularity which has induced the acceptance of brain computer interface technologies. A rising instance of brain disorders in the growing geriatric population has been a matter of concern across the medical circles and there are concerted efforts to combat the problems resulting from neurological or brain disorders. The aforementioned trend has boosted the demand for Brain Computer Interface (BCI) devices which has in turn fortified the market for BCI technologies. A number of market players are now aiming to excavate nascent and innovative BCI technologies to capture the essence of the market. Moreover, the human behaviors, inclinations, and preferences are being extensively analyzed to cater to the needs of a rocketing market for BMI technology. The market players have exhibited a propensity towards devising products which can be synchronized with a variety of applications. The market lords in the years 2015 included Emotiv Systems, Mindmaze SA., NeuroPace Inc., Elekta AB, Blackrock Microsystems LLC, Nihon Kohden Corporation, ANT Neuro B.V., Artinis Medical Systems B.V., Inc., Advanced Brain Monitoring, OpenBCI, Inc., Nerusky, Inc., and Cadwell Industries, Inc.

Over the forecast period from 2016 to 2024, the revenue of the global BCI technology market is anticipated to elevate to US$ 1,232.6 Mn by 2024 as compared to a substantially lower figure of US$ 383.2 Mn in 2015, registering a CAGR of 14.9% over the forecast period.

The noninvasive BCI devices are anticipated to fetch the greatest market share amongst all other type-based segmentations. In terms of end user, the health industry is foreseen to be the prime acquirer of the BCI technologies.

On the geographical outlay, North America exhibited the highest revenue in the year 2015. Owing to the dexterous R&D initiatives, the forthcoming years are also expected to be fruitful for North America’s market for BCI technologies. Europe is foreseen to hold a prominent market share over the forecast period due to the adroit technological development and a deeper sense of acceptance for BCI technologies. The expected CAGR for Europe over the period from 2016 to 2024 would stand at 14.0%. The market for BCI devices is expected to earn a popping market in Asia Pacific where population growth and accelerating disposable income would act as the contributing factors.

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The various market players are engaging in intensive research to innovate their BCI devices and make them sound and compatible. This has also sprouted various awareness programs and adverts that inform consumers about the utility offered by BCI technology. This has magnetized the consumers towards the market for BCI technology which speaks of the growth prospects in the future.

Brain Disorders are an ailment that causes severe disability, especially amongst the geriatric population. The growing occurrence of Parkinson’s disease, stroke, and depression amongst the old people has bolstered the demand for BCI devices. Trust garnered by BCI devices towards subsiding their handicaps or disabilities is expected to keep bolstering the market over the forecast period.

Towering Costs and Regional Disparities Could Hamper Market Growth

The BCI devices undergo a rigorous and resourceful chain of production which magnifies their cost to a substantially high figure. This could be a major hindrance in the growth of the market for BCI technology because regions such as Asia Pacific are heavily hit by economic disparities. Moreover, the unaffordability of these devices discourages research organizations from using them which pulls substitutes into the picture. This acceptance of substitutes could be a long-term threat to the market for BCI technology. Despite these obstacles, the acceptance towards wearable medical devices coupled with growing income standards across the globe is expected to keep proliferating the global BCI technology market.

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Portable Gas Detection Equipment – Building Automation and Industrial Applications to Benefit Market

With the players in the market striving to meet the consumer demands and stay ahead in the league, the competition in the global portable gas detection equipment market is likely to heat up in the years ahead, states Transparency Market Research (TMR) in a research report. The companies operating in the market are Thermo Fisher Scientific Inc., Detcon, Inc., RAE Systems Inc., Honeywell Analytics, Trolex Ltd., Crowcon Detection Instruments, Ltd., Mine Safety Appliances, Drägerwerk AG & Co. KGaA, and Industrial Scientific Corporation.

The global market for portable gas detection equipment is anticipated to witness a 4.8% CAGR from 2015 to 2023. In 2014, the market was worth US$1,145.3 mn and is likely to rise to a valuation of US$1,737.3 mn by the end of 2023. On the basis of type, the market has been bifurcated into non-wearable as detection equipment and wearable gas detection equipment. Out of these two, the segment of wearable gas detection equipment is projected to rise swiftly over the course of the forecast period. These gas detection equipment can be worn by humans and is to work with. Region-wise, the demand for gas detection equipment was high in the industrial sector of Europe, North America, and Japan. The importance of the equipment in oil and portable gas end users and in the mining industry in these regions is also a core factor responsible for the growth of the market in these regions.

One of the key driving components for the portable gas detection equipment market is the developing prevalence of wireless portable gas detection equipment. These portable gas locators are fit for recognizing gas breaks and explosives from safe separations, which settles on them the favored decision crosswise over oil and gas, mining, and industrial end users. The developing need for portable gas detection equipment, essentially in modern and building mechanization applications, is relied upon to help the interest for portable gas detection equipment in Asia Pacific in the coming years. Moreover, the utilization of portable gas detection equipment is relied upon to ascend in Middle East and Africa (MEA), where extensive mining and oil exploration exercises are completed. In addition, expanding mindfulness about workforce wellbeing in the MEA is likewise responsible for the speediest development rate of this district. In the GCC district and Africa, a noteworthy piece of the demand is expected to originate from the mining division in the coming years.

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Need for Flexile Devices in Several Industries to Bode Well for Market Growth

The market for portable gas detection equipment is fundamentally determined by developing inclination for adaptable, portable equipment for gas leak exposure, particularly in restricted territories with constrained access. The extending uses of this equipment over the oil and gas, industrial, and mining end-use segments is another driving variable for the market. Furthermore, the appearance of wearable gas detection equipment is foreseen to offer colossal development potential to the worldwide portable gas detection equipment market in the coming years. Despite what might be expected, a factor blocking market development is low mindfulness about portable gas equipment, which gets firm rivalry from settled gas detection equipment that is now introduced in real areas.

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Autonomous Car Market: Constant Technological Innovations to Create Lucrative Opportunities

The strong presence of competitors will characterize the global market for autonomous cars, finds a new study by Transparency Market Research (TMR). Tesla Motors Inc., Nissan Motor co., Ltd. and Waymo LLC are expected to lead this market in future. The high degree of product differentiation will maintain the high degree of competition between the players.

According to TMR’s estimations, the shipment volume of autonomous cars will reach 0.60 mn units in 2025. Rising at a phenomenal CAGR of 47.50% during the period from 2025 to 2035, the shipment volume is likely to increase to 29.31 mn units by the end of the forecast period. Level 3 autonomous cars are likely to witness the most prominent demand across the world during that period.

The geographical analysis of the global market for autonomous cars has also been provided in this research study. Analysts have considered North America, Europe, Asia Pacific, South America, and the Middle East and Africa as the main regional markets for autonomous cars. As North America is anticipated to experience a comparatively faster uptake of autonomous cars, it is likely to witness a higher growth rate than other regional markets during the forecast period.

Asia Pacific is also expected to exhibit steady growth in the demand for autonomous cars during that period on account of the rising awareness among consumers pertaining to the advancements in technology and the substantial upswing in their disposable income. In this region, the level 3 autonomous cars are anticipated to account for the most prominent share of total demand volume, thanks to the forthcoming infrastructural development in the information and communication sector in China, Singapore, and Japan.

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Apart from this, the Asia Pacific market for autonomous cars is also projected to gain significant impetus from the high population residing here. Researchers predict economies with sharp increasing geriatric population, such as Japan and China, will emerge to be the early adopters of autonomous cars in Asia Pacific, states the research study.

Technological Advancements and Rising Awareness about Benefits of Autonomous Cars to Boost Market’s Growth

“With the constant innovation and update in technology, autonomous cars are likely to be the next big thing across the world”, says the author of this study. The significantly rising number of accidents across the world is expected to fuel the adoption of autonomous cars as they are supposed to be highly effective in reducing the number of road accidents and make streets safer by automating safety features. The advancements in technology are likely to enable autonomous cars to save tens of thousands of lives every year, lost to traffic accidents and fatalities due to the human errors in judgment, which will eventually reflect on their sale in the future.

Along with this, the seamless connectivity offered by autonomous cars, which enable vehicles to ride closer together with the help of sensors, allowing more cars on the road with less traffic and reducing congestion, is also projected to add substantially to the growth of this market in years to come. However, the lack of clarity over laws and regulations may hinder the market to some extent, notes the study.

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