Unified Communication as a Service (UCaaS) Market – Rising Demand for UCaaS Solutions in Large Enterprises Acts as Growth Booster

The top five companies in the Unified Communication as a Service (UCaaS) market together accounted for a share of just under 57% in 2015. Transparency Market Research observes that the key opportunity for these players – 8X8 Inc., West Corporation, Cisco Systems Inc., Microsoft Corporation, and Fuze Inc. – lies in the integration of business processes and applications. This is expected to further the adoption of UCaaS solutions across the globe.

“There has been a substantial increase in the use of social media for businesses, and combining social media with UCaaS solutions enables efficient customer relationships and strengthens marketing,” the author of the study states. UCaaS vendors are, therefore, looking to build ecosystems that can make social business integration compelling for enterprises.

Recent studies have shown a significant rise in the number of mobile workers across the globe. “Growing liberalization around the world has compelled large enterprises to enter cross-border markets, thereby driving the need for collaboration tools to allow employees of a company to effectively communicate with each other,” the author of the study comments. UCaaS solutions support this very need and as a result, the market for the same has been receiving a major boost. “The impact of this driver will be high during the forecast period with businesses likely to expand operations to developing regions such as the MEA and Asia Pacific,” the analyst predicts.

The growth of the BYOD trend, multiple benefits offered by UCaaS solutions, and surging penetration of mobile devices are also responsible for the future expansion of the UCaaS market.

In contrast, the lack of awareness regarding UCaaS solutions and the benefits they offer threatens to hamper the adoption rate of UCaaS by SMEs. However, this impediment is projected to have a minimal impact on the UCaaS market in the long term.

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Significant Growth in Store for UCaaS Market by Revenue and Volume

The opportunity in the global UCaaS market was pegged at US$8.23 bn in 2015 and is projected to be worth US$79.3 bn by 2024. The market is likely to expand at a remarkable CAGR of 29.4% during the forecast period. By deployment, hosted UCaaS accounted for a larger share in terms of both revenue and volume. Revenue-wise the segment is anticipated to witness a 33.1% CAGR from 2016 to 2024 to reach US$69.9 bn by 2024. Volume-wise, the hosted UCaaS segment is expected to register a 32.0% CAGR. Within the hosted UCaaS segment, UC SaaS emerged as the leading segment by revenue in 2015, with UC PaaS as the most rapidly expanding sub-segment.

By service, the global UCaaS market was led by telephony services while contact center services are likely to register the fastest growth by revenue during the forecast period. On the basis of end users, large enterprises form the key revenue generators in 2015. Small and medium enterprises (SMEs), on the other hand, are projected to develop at the highest pace from 2016 to 2024. Based on delivery model, although stand-alone services held the larger share in terms of revenue in 2015, integrated services are likely to emerge as the leading as well as fastest growing segment by 2024. Geographically, North America is the leading revenue generator while Asia Pacific is forecast to exhibit the highest growth by 2024.

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Biometric Sensors Market: Firms Undergoing Mergers and Acquisitions to Secure the Market Position; this Fuels the Growth

The global market for biometric sensors is foreseen to experience a hike owing to the demand for identity technology. Biometric sensors are important facet of the identity technology that boosts its market demand, states Transparency Market Research (TMR) in its recent report. The global market of biometric sensors is extremely diverse and populated with several well-known firms working on the advancement of the technology. Infineon Technologies AG (Germany), CrossMatch Technologies, Inc. (U.S.), 3M (U.S.), ZKTeco Inc (China), NEC Corporation (Japan), Suprema Inc. (South Korea), Precise Biometrics Ab (Sweden), IDEX ASA (Norway), and Safran (France) among others. The market comprises of various International, regional, and local vendors. During the end of year 2016, Gmalto acquired 3M Cogent, with initial deal price og US$ 850 mn. 3M Cogent specializes in biometrics for civil ID, law enforcement, and border control. Moreover, Bpifrance and Advent International also took over Safran Identity and Security which marks the rise of collaborations, partnerships, mergers, and acquisitions among the regional and international players in biometric sensors market.

As per the report by a TMR analyst, the market is anticipated to soar high in coming years. The global biometric sensors market was evaluated to be worth US$ 710.0 mn in the year 2014. This figure is likely to reach around US$ 1,625.8 mn by the end of year 2023. The robust CAGR of 9.6% from 2015 to 2023 is speaking of the strong market demand in coming years. Moreover, in terms of revenue, the market is anticipated to be evaluated around worth US$ 1,799.6 mn by the end of 2023, with gradually expanding CAGR of 15.8%. Several companies are competing neck-to-neck with each other to secure their place in the global or regional market. Various regional and local manufacturers are also selling high quality biometric sensors that are cost-effective as well as accurate. This intensifies the market scenario up a notch.

The biometric sensors have a wide range of usage in various domains. It is used in microphones to sense the voice and in high definition camera to sense face-detection and facial expressions. It is also used to observe and scan vein structure beneath the skin, including properties such as quick identification and verification as well. Such technological innovations in several domains including consumer electronics, automotive, defense and security, and commercial centers are fueling up the requirement for biometric sensors in the global market. In various offices, smartphones, other smart gadgets, fingerprint identification technology has been gaining a lot of traction. There has been a heavy demand for sensor based wearable devices, tablets, watches, and several other consumer electronics, which contributes as some of the major factors for the market growth.

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Inaccuracy of the Devices and Unskilled Trainers Hamper the Growth of Biometric devices in the Global Market

Although the market scenario of biometric sensors looks quite bright, but certain factors are likely to obstruct the fluent market growth. Regions with various cultural blockage are hampering the market growth. Moreover, improper standardization of the development and implementation process also pulls down the demand of biometric sensors in the market. There is also a shortage of skilled trainers to manage the biometric facilities, accompanied by inaccurate mathematical calculations from the vendor’s end and uninformed users are some of the other contributing factors that are foreseen to hamper the market growth of biometric sensors on global scale. The consequences of these causes are not analyzed to the optimum yet, but are sure to trigger the fluctuation in market figures. Additionally, standardization with respect to features and authenticity of the design, low accuracy level, lack of reliability are also contributing in the decline of the market demand.

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Offshore Drilling Rigs Market – Substantial Reserves of Oil and Gas under Ocean Beds Drives Market

To stay ahead of the curve in a moderately competitive market, players are adopting various astute strategies in the global offshore drilling rigs market. For example, they are banking big time on latest technological progress to come up with more effective products that can achieve the task of creating holes in the earth subsurface to discover and extract oil. Then again, they are resorting to joint ventures and carefully-considered partnerships.

A research study by Transparency Market Research delves into such winning strategies of players and uncovers that leveraging those Ensco, Tranocean, Seadrill, Diamond Offshore, COSL, Ocean Rig, Nabors Industries Limited, and Paragon Offshore have emerged as key players in the market for offshore drilling rigs.

It projects the market for offshore drilling rigs to attain a value of US$41,922.8 mn by 2022-end from US$35,336.2 mn in 2017 by rising at a 3.5% CAGR from 2017 to 2022.

The different types of offshore drilling rigs available in the market are semi-submersible rigs, jack up rigs, and drill ships. Jack up rigs, among them, pulls in maximum revenue, finds the TMR report. Going forward too, it is expected to hold on to its leading revenue share by accounting for almost 41.7% of it by 2022-end.

Asia Pacific except Japan, Japan, North America, Latin America, Europe, and the Middle East and Africa are some of the prominent regions in the global offshore drilling rigs market that have been studied in the report. North America, of them, is the dominant revenue generator which is expected to pull in a revenue to the tune of US$9,829.6 mn by the end of the forecast period in 2022. This is because the U.S. in the region is one of the world’s biggest offshore oil producing countries.

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Massive reliance on fossil fuels such as coal, oil, and gas for satiating energy needs of the nations across the world is a primary growth driver in the global offshore drilling rigs market. Since most those are still buried deep inside the earth’s crust either on land or under the ocean beds, drillings rigs are required to get to them. Offshore drilling rigs are seeing solid demand since the about a third of the oil and gas produced worldwide is sourced from offshore reserves. “In fact offshore drilling rigs have come a long way – from the first ones built towards the end of 1800 meant for shallow waters near the coastline to the modern day ultra-sophisticated ones that can reach almost 7,500 feet deep about 200 miles away from the nearest shore. Thus, offshore oil production which was highly complex at one point in time has become commonplace at present,” adds the analyst who spearheaded the TMR report.

Concerns over Adverse Effects on Marine Life Poses Roadblock

Besides helping to serve the energy requirements, offshore drilling rigs also bring about reduced seepage of natural oil in the oceans. Despite it, however, offshore drilling rigs have a fallout on the marine life disturbing the ecological balance of the ocean. Concerns about such risks, it causing stringent rules being framed around them. Nevertheless, it is said that the advantages of offshore drilling far outweigh its risks, thereby mitigating any risks to the demand in the market.

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Elevators and Escalators Market: Commercial Application to Generate Significant Revenues

Growing need for fast and convenient navigation in residential and commercial buildings has led to surge in installation of escalators and elevators. In addition, increasing demand for speedy transportation of luggage in the aircrafts and airplanes is projected to impact the global market growth of elevators and escalators positively. TMR states that the global elevators and escalators market is projected to reflect a CAGR of 7.4% over the forecast period, 2017-2026.

Growth of the global elevators and escalators market is mainly bound by various macro-economic and micro-economic factors. As children, old aged people and arthritis patients experience pain and discomfort while climbing the long range of stairs, constructors are increasingly integrating enhanced solutions to travel through the building. Increasing demand for convenient and speedy mode of navigating through various levels of buildings will continue to boost installation of elevators and escalators globally. Installation of elevators and escalators also offers the differently-abled and physically disabled customers convenience in travelling through different floors. Elevators and escalators are commonly installed in the underground train stations, airports, and shopping malls. These factors are projected to impact the global market growth of elevators and escalators positively during the forecast period.

Attributed to rapid navigation through the multi-story buildings, installation of elevators and escalators will continue to increase. Growing need for fast progress and operations in various government agencies and banking institutions is further expected to rev up demand for elevators and escalators globally. As travelling through the elevators and escalators is a comparatively faster option, the employees can conveniently speed up the process and operations by navigating comparatively fast. A recent trend observed in the construction industry is that various commercial and residential buildings are increasingly installed with weatherproof elevators outside the building. Moreover, due to less space within, constructors are installing weatherproof elevators outside the building. These factors are expected to contribute towards the global market growth of elevators and escalators throughout the forecast period.

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Elevators and Escalators are also witnessing increasing adoption in the aviation industry. While top to bottom escalators are installed for the passengers to travel to various levels of the building, constructors are also equipping the airports with flat escalators or the travolators. Installation of travolators enable the passengers to travel to their platform along with the heavy set of luggage. In addition, the inclined and moving travolators are also used for transporting the baggage to ships and aircrafts. As the requirement for speedy transportation of raw materials within a manufacturing industry increases, adoption of the travolators continue to witness significant demand in the factories. Growing need for transporting luggage and large number of people is projected to impact the global market growth of elevators and escalators positively.

Sales to Remain High through Commercial Application 

Increasing demand for constructions has led to surge in the installation of new equipment in various buildings globally. In terms of revenue, the new equipment service type segment is projected to witness the highest growth, recording more than US$ 30,200 Mn by 2026-end. On the other hand, the maintenance & repair service type segment is projected to reflect a healthy CAGR during the forecast period.

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Air Conditioning Systems Market – Energy-efficient Air Conditioning Systems Gain Prominence

The vendor landscape of the global air conditioning systems market is speckled with large and established companies such as Gree Electric Appliances, Inc., Daikin Industries Ltd., and Carrier Corporation; emerging players such as Panasonic Corporation, Mitsubishi Corporation, and The Midea Group; and promising vendors such as LG Electronics, Haier Electronics Group Co., Ltd., and Hitachi Ltd. Each of these players have been striving to strengthen their position in the air conditioning systems market and achieve sustainable growth.

Transparency Market Research finds that in order to achieve these goals, companies are presently focused on integrating products so as to expand their customer base and reach out to newer audiences. Strategic partnerships and acquisitions have also been a core strategy for a number of players. A case in point would be Carrier, who, in 2011, joined hands with the Midea Group of China to manufacture as well as distribute HVAC systems in Brazil, Argentina, and Chile. “This joint venture not only helped Carrier form a strong distribution network in these promising countries but also established a strong foothold for the company at a global level,” the lead analyst of the TMR study states.

The growth of the air conditioning systems market can be largely attributed to the rapidly expanding construction and housing sector. “Increasing construction permits, especially for commercial infrastructure, means a rising need for equipment such as air conditioning systems,” a TMR analyst explains. The market for air conditioning systems is also driven by stringent government regulations, technological developments, rising consumer expectations, increased demand from the commercial sector, strong demand from Asia Pacific, and climate variations. The surge in awareness regarding the importance of indoor air quality has also generated an increased demand for advanced air-purifying technologies.

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In contrast, the air conditioning systems market faces a major roadblock – increased energy consumption. However, TMR finds that this challenge can be easily addressed. “The emergence of ongoing trends such as green technologies, smart homes, and energy-efficient systems are driving manufacturers of air conditioning systems to focus on innovation and come up with equipment that meet the rising energy requirements of consumers and governments alike. Thus, this obstacle also presents market players with several opportunities for growth over the coming years,” the author of the study states.

Split ACs Witness Highest Demand

The global market for air conditioning systems was pegged at a value of US$104.4 bn in 2015, which is projected to rise to US$167 bn by the end of the forecast period. Assuming these figures hold true, the market is likely to expand at a 5.1% CAGR from 2016 to 2024. The air conditioning systems market is projected to expand at a much faster pace in terms of volume, registering a 6.2% CAGR during the forecast period. Asia Pacific dominates the global air conditioning systems market by volume and value, with the Middle East and Africa witnessing the fastest growth. While split ACs enjoy the lead at present, the portable air conditioning systems segment is likely to expand at the highest CAGR by 2024.

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Head-up Display Market – Demand for Improved Safety to Boost HUD Uptake in Automotive and Aviation Sectors

Companies such as BAE Systems plc, Nippon Seiki Co. Ltd., Rockwell Collins Inc., and Continental AG currently lead the global head-up display (HUD) market. As per the findings of Transparency Market Research (TMR), these players are mainly focusing on giving users a comprehensive experience through incorporating cutting-edge technologies. Many players are also taking recourse to strategic collaborations and business partnerships to strengthen their position in the market. Besides this, the leading companies are looking to add novel solutions to their portfolios to expand their geographical reach.

Research and development activities have enabled the leading companies to innovate for improving their existing HUDs in terms of wider angle of view, clarity in projection, and easy integration with other electronic devices. Such innovations are aimed at gaining the lion’s share in the market.

The demand for head-up display mainly arises from the automotive and defense & aviation sectors. In the automotive sector, demand for these products has been surging rapidly from the high-end and luxury cars segment. The increasing demand for improved safety systems in aircrafts and automobiles is another key factor aiding the uptake of HUDs. “The automotive industry witnesses cut-throat competition, which is compelling manufacturers to explore technological innovations as a key strategy for competitive advantage. This is in turn fueling demand for HUDs from the industry as they enhance road safety by displaying critical information,” said a lead TMR analyst.

HUDs have been incorporated in combat aircrafts since decades. Due to the surging air traffic, their use in civil aircrafts is also expected to increase gradually. This recent development will in turn create opportunities for increased HUD sales. “Strong growth witnessed in the luxury car segment across emerging economies will also boost the incorporation of HUDs in the forthcoming years,” added the TMR analyst. The demand for luxury cars is rising at a robust pace in India, Brazil, China, Mexico, and Russia. All these countries boast a growing economy, rising disposable income levels, and changing demographics, which are key factors fuelling demand for HUDs.

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High Cost of Manufacturing to Limit HUD Adoption in Mid-range Cars Segment

Despite witnessing favorable growth opportunities, high cost of manufacturing is restraining the adoption of HUD around the world. Until recently, the application of HUDs was limited to the defense and military sector, because only government could afford the high investment required for its production. Despite the technology gaining a footprint in the automotive sector, small and medium scale manufacturers are yet to participate in the popular trend. The technology was thus able to attract only large manufacturers. This in turn has led to the limited deployment of HUDs.

Demand for HUDs to Increase with the Launch of Augmented Reality

Nevertheless, TMR forecasts attractive opportunities for the market in the forthcoming years. The launch of augmented reality in automotive HUDs holds immense potential for growth. The technology will provide real-time traffic information to drivers. It will also display information from driver assistance systems such as lane departure warning and adaptive cruise control.

The HUD technology has its root in the automotive industry, witnessing robust deployment in the luxury and high-end car segment. Furthermore, TMR expects the technology to gradually penetrate in the mid-range car segment, as its cost of production decreases. This will bolster sales of head-up displays in the near future.

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Hygienic and Aseptic Valves Market: Elimination of Preservatives from Food and Beverages Drives Demand

Transparency Market Research observes that the competitive landscape in the global hygienic and aseptic valves market has quite a few leading players. Currently the players are focusing on expanding their business in emerging markets to cater to the huge potential in the developing regions. “Furthermore, companies are also looking at providing solutions to sectors such as biotechnology and pharmaceuticals to strengthen their market position,” states the lead author of this research report. Some of the key players operating in the global market are Alfa Laval AB, SOX Flow, Inc., ITT Corporation, GEA Group AG, and Pentair PLc.

The research report states that the global hygienic and aseptic valves market is expected to be worth US$9.0 bn by the end of 2025 as compared to US$6.0 bn in 2015. The market is expected to show progress of 4.8% CAGR during the forecast period.

On the basis of types of valves, the global market is segmented into hygienic single seat valves, hygienic double seat valves, hygienic butterfly valves, hygienic control valves, and aseptic valves. Of these, the hygienic single seat valves are expected to outperform all other segments. By the end of the forecast period, the segment is expected to acquire a share of 26.0% in the global market. The dominant share of this segment will be attributable to the ability of these valves to meet the strict regulations pertaining to aseptic and hygienic processes in industries such as pharmaceuticals, food and beverages, and dairy. In terms of geography, North America is leading the global market due to region’s continuous investment in expanding manufacturing facilities. The region is expected to rise at a CAGR of 7.1% between 2016 and 2025.

Automation and Modernization of Production Processes Boosts Global Market

Analysts state that the demand for hygienic and aseptic valves is likely to be on the rise in the coming years. The demand is likely to be fueled by the need to eliminate the usage of food preservatives in the food industry. Presently, several fitness-conscious and health-conscious people are focused toward reducing the consumption of food preservatives due a growing awareness about their negative impact on the human body. The majority of the processed food and beverages includes preservatives that are hampering the natural metabolism of the body. Thus, to cut down the usage of these harmful substances, food manufacturers are deploying hygienic valves in several industrial sectors.

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The market is also expected to grow against the backdrop of increasing focus on sanitary regulations especially in the food and beverages industry. The market is also being supported by growing initiatives of modernization in countries such as the U.S., China, Brazil, and India. The cooperation from several large organizations to comply with sanitary, safety, and modernization norms are collectively expected to boost the growth of the market. In the coming years, efforts to incorporate plant automation are also likely to augment the demand for these valves, state analysts.

The steady future of the global hygienic and aseptic valves market is likely to be hampered by the unreliable supply of hygienic aseptic valves. The wavering quality of these valves due to changes in suppliers and poor distribution system is expected to hamper the progress of the global market. However, several companies are focusing on establishing steady logistics and supply chain solutions to solve this issue.

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