Commercial Building Automation Market – Granular View of The Market from Various End-Use Segments

A collective share of 39.1% permitted three players in the global commercial building automation market to take lead in the year 2015. Siemens AG, ABB Ltd., and United Technologies Corp, each enjoyed vital tactical advantage in the global market for commercial building automation in 2015 through numerous avenues such as mergers and acquisitions, tapping the unexplored markets of emerging economies in the world, and launching enhanced products. The remaining market across the globe for commercial building automation showed high levels of fragmentation at the mentioned time, with the existence of a large pool of regional players in the market.

According to the research report published by Transparency Market Research, the global market for commercial building automation is reached an overall valuation of US$77.63 in the year 2016. This market valuation is expected to grow and touch the figure worth US$108.49 bn over the course of the given forecast period of 2016 to 2024 in terms of generation of revenue. The overall growth rate for the development of the global commercial building automation market is expected to show an impressive CAGR of 4.3% throughout the given period of forecast of 2016 to 2024. The extent of competition in the global market is projected to grow even more over the coming years of forecast period due to the aggressive expansion tactics adopted by the leading companies along with numerous lucrative opportunities emerging in the market that will attract new players in terms of swift growth.

The chief factor responsible for driving the overall growth of the global commercial building automation market as well as the business expansion of players in it is the constant boom in the construction sector itself. Improvements in the economy across the globe are creating a wider scope of demand for different construction projects in residential as well as industrial sectors. This is more evident in the emerging economies of the Middle East and Africa region as compared to others. These regions are acting as a strong base for commercial building automation and thus are expected to significantly drive the overall growth of the market.

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The swift development of the construction sector is presently the primary reason for causing high demand for more efficient projects that will use less volumes of materials along with having a comparatively lower requirement for power. In addition to this, the increasing concern over the rapidly decreasing stockpiles of fuel and growing environmental pollution have enforced numerous governments to impose stringent policies regarding the efficient use of resources. This is expected to directly impact the overall development of the global commercial building automation market in the near future.

High Cost and Slow ROI to Impede Market Growth

However, the growth of the global market is not without any challenges in front of it. The gross cost of installation, maintenance, and operation of these commercial building automation systems is on the higher side. This is expected to be the chief impeding factor in slowing down the growth of the global market. The high costs are also responsible for demotivating new players into entering the market and the slow rate of ROI is also considerably slowing down the adoption among the end users. This is expected to create some problems for the smaller players in the global market for commercial building automation.

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Magneto Resistive RAM (MRAM) Market – Enterprise Storage Sector to Report Strong Demand

With a clear leadership of Everspin Technologies Inc., the global market for magneto resistive RAM(MRAM) demonstrate a highly consolidated structure, finds a report by Transparency market Research (TMR). The company alone occupied a share of more than 64% in the overall market in 2015. Spin Transfer Technologies, Avalanche Technology, Honeywell International, and Toshiba are some of the other leading manufacturers of MRAM across the world.

Hitherto, these companies were focusing on product development and innovation to improve their visibility. However, their focus is likely to shift towards strategic partnerships in the coming years in a bid to strengthen their market presence.

According to TMR. The global market for MRAM stood at US$41.2 mn in 2015. Expanding at an exponential CAGR of 44.20% during the period from 2016 to 2024, the market is likely to arrive at US$869.7 mn by the end of the forecast period. With a share of nearly 63%, second-generation MRAM (STT-MRAM) surfaced as the most favored product in this market in 2015. Supported by the introduction of new products and the significant rise in adoption across various applications, STT-MRAM is likely to continue to witness a high demand during the forecast period.

Geographically, the global MRAM market is segmented into Europe, the Middle East, Asia Pacific, Latin America, and North America, states the report. Among these, MRAM finds the most prominent demand in Asia Pacific. Researchers project the trend to remain so over the forecast period on account of the advancing data center infrastructure in this region, propelled by the increasing penetration of internet and the growing usage of cloud computing. The regional market is estimated to generate nearly US$483.6 mn in revenues by the end of 2024.

North America, which emerged second in this market in 2015, is likely to retain its position during the forecast period. The strong presence of leading vendors and the increase in research and development activities are projected to boost the North America market for MRAM significantly in the coming years. Besides, the augmenting need to curb data consumption and the growing count of computationally intensive applications are also projected to fuel the demand for MRAM devices considerably in the near future, creating lucrative growth opportunities for manufacturers in this region, notes the research study.

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Rising Preference for Fast and Scalable Memory Devices to Reflect Positively on Demand for MRAM

“The global demand for MRAM is heavily influenced by the rising preference for highly scalable, fast, power efficient, and non-volatile memory devices with low cost per bit in the consumer electronics, defense and aerospace, and enterprise storage industries,” says the author of this study. Thanks to the ongoing expansion of the enterprise storage industry, the demand for MRAM is likely to augment substantially in the coming years.

Apart from this, the rise in the flexible and wearable electronics market is also expected to reflect positively on the sales of MRAM devices over the next few years. However, the high cost associated with the designing of these devices, which eventually results in the total cost increment, is projected to limit their application in the near future. The growing concerns over electromagnetic interference are also anticipated to hamper the growth of this market to some extent in the years to come, states the report.

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Chemical Sensors Market – Intensive Research and Development Keeps North America at Forefront

The top five players in the global chemical sensors market accounted for a share of 19.8% in 2015. The market leaders, namely, Emerson Electric, Co., Honeywell International, Inc., ABB Group, Siemens AG, and The Bosch Group are all expected to continue their dominance in the near future with the development and launch of new products. “Companies are also projected to focus on the implementation of new technologies through innovation achieved through research and development to stay ahead of the competition,” states the lead author of this research report. The research report by Transparency Market Research states that the opportunity in the global chemical sensors market is expected to be worth US$24.8 bn by 2024 as compared US$16.3 bn in 2015. The market is projected to expand at a CAGR of 5.0% from 2016 to 2024.

In terms of geography, North America is expected to lead the global market as it is posed to acquire a share of 36.4% in terms of revenue in the global market by the end of 2024. The significant growth of this market will be attributable to the intensive research and development activities amidst growing concerns about environmental pollution. Meanwhile, the oil and gas industry is projected to be the key end user in the global chemical sensors market as the industry on the whole is in a constant effort to control and monitor hazardous chemicals in the environment. Analysts estimate that the oil and gas segment will progress at a CAGR of 4.5% during the forecast period.

Consumption of Chemicals across Industries Ensures Growth

The demand for chemical sensors is expected to surge in the coming years as consumption of chemicals surges in industries such as medical, agricultural, food and beverages, and automotive. The ongoing oil and gas exploration and extraction activities have also sped up the uptake of various types of chemical sensors in recent years. Several industries are adopting these sensors in order to identify the level of hazardous chemicals in present in the environment and determine their impact through logical analysis. The growing initiatives by governments to ensure environmental safety is also expected to drive the global market in the coming years.

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The spike in the revenue of the global chemical sensors market is also attributable to rising concerns over homeland security. Owing to this reason, chemical sensors are being used by the defense forces for detecting harmful gases, explosives, and other chemicals that could be used as a part of chemical warfare. The increasing investments in research and development activities are also likely to benefit the overall market in the near future. Furthermore, the initiatives taken by the governments and private organizations to bring CO2 emissions and curb the national footprints is also projected to work in the favor of the global chemical sensors market.

Shorter Life Span of Chemical Sensors Dissuades Buyers

The only factor restraining the growth of the overall market is the poor life expectancy of the chemical sensors. The sensors are known to get easily damaged due to varying temperatures, air pressure, humidity, and other environmental contaminants. Persistent exposure to harmful chemicals and gases deteriorates the quality of these sensors. The fluctuating prices of chemical sensors despite the steady demand and extensive sales is also projected to hamper the growth of the global market in the near future.

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Functional Apparel Market – Sportswear to Emerge Significant through 2025

With the presence of a large number of players that offer application-specific products, the global functional apparel market is fragmented, states Transparency Market Research in a new report. Players in the market are investing substantially in innovative technology to introduce novel products that offer flexibility, durability, and comfort. Research and development to introduce eco-friendly fabric to serve the demand for eco-friendly performance clothing is also the focus of players in the functional apparel market. Such initiatives will help market players expand their brand into new categories.

Prominent names in the global functional apparel market include Addidas, Columbia, MIZUNO Corporation, New Balance Inc., Icebreaker, Wacoal, Calvon Klein, Hanesbrand Inc., and French Connection among others.

According to estimates provided by a TMR report, the global functional apparel market is anticipated to clock an impressive 13.5% CAGR during the forecast period between 2017 and 2025. At this pace, the market will be valued at US$244.61 bn by the end of 2025.

On the basis of type, the functional apparel market is divided into sportswear, outdoor apparel, footwear, socks, and innerwear. Of them, the footwear segment is anticipated to display faster growth rate over the forecast period. Region-wise, North America is anticipated to emerge as the leading regional market for functional apparel over the forecast period from 2017 to 2025. As individuals are adopting physical activity and fitness regimes, the demand for sportswear apparel and footwear with sweat-free, antimicrobial, and anti-odor features is anticipated to be on the rise in the region.

Majorly fuelling the growth of the functional apparel market is rising demand for high-performance, application-specific apparels and footwear coupled with the rising participation in sports and fitness activities. Functional apparels manufactured using advanced technology are usually made of polyester fabric or microfiber that absorbs sweat from the body on the fabric’s surface, from where it is evaporated. These apparels thus help athletes to stay dry and comfortable.

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The rising interest in sports and fitness activities over the past couple of years is a key factor driving the functional apparel market. Changing fashion trends and rise in the number of working women will stimulate the demand for non-athletic footwear. Further, the growing awareness of importance of health and fitness is likely to stir the demand for sportswear and footwear in the upcoming years. Increasing inclination of individuals towards fitness is encouraging them to get involved in gym or personal training activities so as to remain healthy and active in daily life. Worldwide, work-related stress and consumption of high-calorie food has aroused health consciousness among individuals. Individuals have become selective about apparels they wear for gym sessions, personal training, and even casual work.

The trend is likely to be prevalent in developed regions. The strong presence of some major players also account for prominence of developed regions such as North America and Europe.

Adoption of Scientific Principles for Product Manufacture helps Improve Performance

The adoption of scientific principles in the manufacture of functional apparels offer protection from heat, radiation, extreme cold, and chemicals. These attributes help functional apparel find special potential among technology-savvy users. Highly engineered athletic footwear helps in improving athletic performance and helps reduce injuries.

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Physical Security Information Management Market – IoT Integration to Encourage Product/Service Differentiation

The global physical security information management (PSIM) market features an exceedingly fragmented competitive landscape, with the top four companies collectively accounting for merely 36% of the overall market in 2016, observes a recent report by Transparency Market Research. The top two vendors in the market, namely NEC Corporation and Tyco International, command prominent position in the global market owing to their extensive global network of delivery and service centers, especially in key emerging economies such as India, China, and Brazil.

Other key vendors in the global PSIM market, such as the emerging companies CNL Software Ltd., Milestone Systems A/S, Mer, Inc., Intergraph Corporation, and Vidsys, Inc., stay ahead of the competition with the help of a strong product portfolio. A large number of domestic players hold strong positions in key regional pockets, making it difficult for international players to strengthen their foothold in these lucrative markets.

Companies are, therefore, increasing product and service offerings through strategic collaborations, mergers, and acquisitions in order to establish their roots across regions such as Asia Pacific, Latin America, and Middle East and Africa. A recent instance is NEC Corporation’s August 2016 acquisition of the Rio de Janeiro, Brazil-based IT security company Arcon Informatica S.A.

Transparency Market Research estimates that the physical security information management market will expand at a remarkable 18.7% CAGR over the period between 2016 and 2024. As a result, the market, which had a valuation of US$823.1 mn in 2015, will rise to US$3,832.6 mn by 2024.

In terms of geography, North America presently leads, holding a nearly 36% of the global PSIM market in 2015. Although the regional market expected to exhibit strong growth over the forecast period and retain its leading position, it will lose prominence to Asia Pacific and Europe in terms of growth pace over the forecast period. Of the key end users of PSIM solutions, the government and defense sector held the dominant 11.6% of the market in 2016.

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The global demand for effective physical security information management solutions is on a rise across the globe owing to a plethora of factors. Among these, the factors expected to have a lasting influence on market’s development include the increasing development of smart city projects, especially across developing economies, and the rising demand for centralized control over the disparate security systems.

The rise in security breaches in organizations processing and managing critical business and consumer data is leading to the demand for a large number of security system deployments. PSIM systems are good contenders for organizational security management purposes. Their capability to provide an efficient centralized control over disparate security systems, while also providing consistent levels of security, better remote monitoring, and accessibility across all sites, works in their favor, leading to the increased global demand.

The high cost associated with PSIM solution deployment is a major concern for the PSIM market. Furthermore, high adoption and extensive penetration of competitive software solutions such as video management systems and access control systems is expected to restrain the PSIM market across the world.

Nevertheless, the rapid development of internet of things (IoT) is expected to provide lucrative opportunities for the global PSIM market. The integration of IoT with PSIM solutions provides significant opportunities to extend solution and service offerings. This integration would also allow global PSIM vendors to offer additional services such as visualized services platform to enhance the performance of PSIM solutions. The differentiation in product and service offering through this strategy could emerge as the lucrative growth opportunity for vendors.

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Mixed Reality Market – Entertainment to Continue to Remain Leading Application Sector

Transparency Market Research has observes that collective share of leading players in the global mixed reality market stood at 71.1% in 2013. The remarkable product innovation and the massive research and development investments have helped Microsoft Corporation, Canon, Inc., Samsung Electronics Co. Ltd, Recon Instruments Inc., HTC, and Seiko Epson Corporation retain their lead over the years. “Design and development of immersive and interactive experiences applicable to a wide range of end users is expected to winning strategy of these players,” states the lead author of this research report.

According to the research report, the opportunity in the global mixed reality market by the end of 2024 is expected to be worth US$1.2 bn. The market is anticipated to progress from for US$ 35.30 mn in 2015 at a whopping CAGR of 39.1% between the forecast period of 2016 and 2024. The emergence of 3D movies as an integral part of entertainment industry is expected to boost the demand for mixed reality hardware and software. Following this, the entertainment industry is estimated to rise at a CAGR of 40.3% during the forecast period. In terms of regions, North America expected to dominate the global market due to a high adoption rate of mixed reality across the region. The region is anticipated to witness a CAGR of 41.9% over the estimated period.

Enriching Experiences of Virtual and Real World Keep Consumers Glued to Mixed Reality Devices

The rapid evolution of the entertainment and media segment is anticipated to make a generous contribution to the soaring revenue of the global mixed reality market. The advancements in the mixed reality market have allowed a score of ticketing professionals a chance to develop interactive and unique content. Such developments have created a whole new world of gaming for users where they can actually experience the game as though it may be occurring in real life. Owing to this radical change, the global market is anticipated to witness a several video game companies vying for its software, hardware, and services.

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The growth of the global market will also be attributable to the increasing adoption of mixed reality in healthcare and medical sector as well. Interactive imaging to understand the disease or the disorder better and  growing usage of head mounted display to enhance pharmacy management are expected to offer the global market lucrative growth opportunities. Additionally, the usage of mixed reality in enhancing the online shopping experience is also likely to boost the growth of the overall market. For instance, car manufacturers are using mixed reality techniques to showcase 3D car structures of the buyers that allows them to experience the car as they would have in real life.

High Investment Costs Deter Market Growth

Despite the strong market drivers, the global mixed reality market is being stifled due to the necessity of huge investments in research and development of devices. The prolific financial costs related to implementation of mixed reality technology is anticipated to hamper the entry of new entrants and also have a negative impact on the growth of the overall market. The concerns pertaining to privacy have also been a restraining factor in the global market. The issues pertaining to theft of information, recording copyrighted material, or complications with regards to intellectual property are likely to hinder market growth.

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Atomic Layer Deposition Equipment Market – Industrial Expansion to Create New Opportunities for ALD Equipment

The presence of a large number of international and local companies is boosting competition in theglobal atomic layer deposition (ALD) equipment market. As per a new study by Transparency Market Research (TMR), the competition prevailing in the market is expected to intensify further between 2016 and 2024. As of 2015, ASM International N.V., Applied Materials, Inc., and Tokyo Electron Ltd. cumulatively held a share of 58.9% in the global market. Of these, ASM International N.V. emerged as the top player, accounting for over 28% of the global ALD equipment market in 2015. Rivalry among key players in terms of product development and technology and product upgrades is expected to intensify during the forecast period.

“Due to the recent advancements in the atomic layer deposition technology, the use of ALD equipment has considerably increased in the nanotechnology sector,” says a lead analyst at TMR. TMR expects applications of ALD equipment as manipulation and fabrication tools in nanotechnology to rise further in the short term. “Growing concerns pertaining to carbon emissions have accelerated investment in the R&D of photovoltaics. Due to the increasing research and development activities, the use of ALD as a PV manufacturing method has substantially expanded,” adds the analyst. This rising demand for photovoltaic cells, combined with rapid advancements witnessed in PV technology, will subsequently augment sales of ALD equipment in the forthcoming years.

In the forthcoming years, the market will also gain momentum from the increasing demand for copper deposition equipment in memory devices. On the flip side, stringent regulatory controls on exports and high initial investment required to procure ALD equipment will limit their sales globally. The absence of skilled human resource and the slow deposition rate of ALD equipment are also likely to curb growth to some extent.

Nevertheless, with the proliferation of ALD across flexible electronics, hydrophobic coatings, and electronic textiles, ALD equipment manufacturers are expected to witness positive opportunities to sustain their growth-run. Furthermore, leading players are also expected to capitalize on the increasing application of ALD across power and energy storage devices.

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Based on type, the aluminum oxide ALD segment accounted for 37% of the global ALD equipment market in 2015. Aluminum oxide, being a highly stable and robust material, is extensively used in research for a plethora of applications in micro and optoelectronics. By application, the semiconductors and electronics segment accounted for the largest share in the market. Demand for ALD equipment for semiconductor processing is high because of the increasing use of the technology in the manufacture of smartphones and other electronic gadgets.

Rapid Industrialization in Asia Pacific Fuels Demand for ALD Equipment

Regionally, Asia Pacific emerged at the fore of the global atomic layer deposition equipment market, with a share of 57.2% in 2015. The region owes its dominance to the rapid expansion of its industrial sector, which has been translating into high sales prospects for ALD equipment. Furthermore, companies operating in APAC are also capitalizing on the easy availability of cheap skilled labor and favorable government subsidies.

TMR says that the sales of ALD equipment in Asia Pacific will rise at an impressive CAGR of 29.9% between 2016 and 2024. According to the report, the global atomic layer deposition equipment market was valued at US$875.0 mn in 2015 and is anticipated to reach US$8.58 bn by 2024, at a CAGR of 29.4% from 2016 to 2024.

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