Lab Automation Market Growth Rate, Forecast To 2024

Laboratory automation capitalizes and optimizes the technologies in the laboratory. Laboratory automation system includes automated lab instruments, software and devices which offer benefits such as reduction of cycle time, increasing productivity, improvement of workflow coverage and improvement of data quality. The laboratory automation or robotic products are offered in modified form, according to the necessity of specific laboratories or researcher. Therefore, lab automation becomes essential in laboratories for handling high volumes of sample at faster rate. This system offers smooth solution to lab procedures such as decapping, centrifugation, aliquoting, recapping and sorting among others.

Lab Automation Market: Drivers and Restraints

The market for lab automation is expected to grow during the forecast period from 2016 to 2024 owing to the rising need of efficiency of the process of drug discovery and clinical diagnostics. This escalating need is currently acting as a driver for this market worldwide. In addition, advantages that lab automation offers are low regent cost and high productivity, reproducibility and accuracy. These benefits are also raving up the demand of lab automation in various application sectors.

However the expensive production cost inhibits the lab automation market. In addition, lack of planning for technology development in laboratory is also acting as a restraining factor for the lab automation market at the global level. Furthermore, increasing demand for lab automation in the emerging markets such as China, India and Brazil are expected to have a positive impact on the growth of this market. In addition, rising aging population along with growing number of diagnostic test performed in laboratories is fueling the market for lab automation market.

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Lab Automation Market: Segmentation and Competitive Dynamics

The market for lab automation is segmented in four categories based on software, application, end use and region. By software the market can be divided into automated liquid handling, standalone robots, microplate readers, automated storage and retrieval systems (ASRS) among others. In terms of application, the lab automation market can be divided into drug discovery, clinical diagnostics genomics solutions, proteomics solutions and others. In terms of end use, the market can be segregated into biotechnology and pharmaceutical industries, hospitals and private labs, academic institutes and research institutes among others.

By geography, the market is divided in four major regions such as North America, Europe, Asia Pacific and Rest of the world including Middle East, South America and Africa. North America and Europe are the early adopters of technology and hence account for the majority of the market share.

However, Asia Pacific region is expected to see faster growth during the forecast period owing to the presence of developing nations such as India, South Korea, Australia and China among others. This growth is attributed to the availability of skilled workforce required in the field of lab automation and improving economic conditions in this region.

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The key players have adopted research and development along with product innovation as major strategies in order to strengthen their foothold in the lab automation industry. The major players operating in the lab automation market are Thermo Fisher Scientific, Inc., Tecan Group Ltd., Siemens Healthcare (Subsidiary of Siemens AG), Roche Holding AG, Qiagen N.V., Perkinelmer, Inc., Hamilton Robotics, Inc., Beckman Coulter, Inc., Biomérieux SA. and Agilent Technologies among others.

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E-commerce Logistics Market Figures With Forecasts Growth by 2024

The global e-commerce logistics market was largely dominated by two leading players DHL International GmbH and FedEx Corporation who held 50% share in the global market in 2015. XPO Logistics and United Parcel Service Inc. are the other two companies functioning in the global market but contribution is far less than the first two mammoth companies are. Some of the other players operating the global e-commerce logistics market are Clipper Logistics Plc., Gati Limited, Kenco Group, Inc., and Aramex International. Several leading players in the market tapping the regional market in emerging economies such as in India and China. The promising growth potential offered in the e-commerce logistics market is likely to draw interest of new players that could help them grow extensively. Route optimization and innovative parcel tracking are strategies used by new players to attain a competitive edge in the market. 

According to TMR, the global e-commerce logistics market is anticipated to reach US$781 bn by the end of 2024 progressing from US$122.2 bn earned in 2014. During the forecast period between 2016 and 2024, the market is projected to rise at remarkable 20.6% CAGR.

Based on service type, the transportation segment held maximum share in the market in 2015 and was greater than the warehousing segment. The importance of transportation is more in the whole chain of e-commerce logistics process and it is gaining more and more importance as various large and small companies are focusing on last-mile delivery. On regional front, Asia Pacific is leading the global e-commerce logistics market as 60% of the global population resides in this regions who have created increased the overall demand through e-commerce medium.  North American and Europe also offered lucrative opportunity due to excellent digital infrastructure.

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Adopting Modern Way of Doing B2C E-Commerce Business to Fuel E-Commerce Logistics Market

Recent technological advancements have increased working efficiency in various sectors. One of them is e-commerce logistics. Massive growth in internet penetration, burgeoning cross-border e-commerce activities, and increasing focus on emerging economies are some of the major reasons behind the growth of e-commerce market at the global level. Moreover, adopting modern way of doing B2C e-commerce business is widely adopted by various companies. This B2C e-commerce business model forces the players to modifying their business model various times in year. Massive growth of innovative technologies is the key factor for the growth of the global e-commerce logistics market. Adding further, rising number of e-commerce startups in India, Brazil, and Mexico is likely are expected to provide fillip to the e-commerce logistics market. 

Infrastructural Issues in Emerging Economies to Deter Market Growth 

One of the major challenge faced by the players function in the e-commerce logistics market is infrastructural issues in emerging economies that hampers the service of last mile connectivity offered by them. In addition, when customer order online keeping the minimum limit in mind and then after receiving they return the unwanted product has high impacted the market players. It is mainly done to avail various offers initiated by companies.  But this put pressure on the chain of reverse logistics and triggers the expenses incurred by the companies in this market. 

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Peer-to-Peer Lending Market Demand, Trends and Forecast to 2024

The global peer-to-peer (P2P) lending market is expected in a report by Transparency Market Research (TMR) to find players following the trend of building tactical alliances to stretch their presence in small business loan divisions. This could be evidenced by the partnership between Prosper Marketplace, Inc. and OnDeck announced in the recent past. In order to improve its product portfolio, Prosper Marketplace also purchased American Healthcare. Using the strategy of collaboration with reliable investors, LendingClub Corporation is observed to target startups. Offering innovative solutions focused on the student demographic could be another trend observed in the market.

TMR prophesies the global P2P lending market to expand at a 48.2% CAGR during the completion of the forecast tenure 2016-2024. The market could be worth a US$897.85 bn by the final forecast year. By end user, small business is expected to account for a larger share of the market while rising at a 48.8% CAGR. By region, North America showcased its dominance over the market in the recent years.

Simplification of Modes Used for P2P Lending Spurs Demand

Demand for P2P lending is anticipated to gain impetus in the near future due to the availability of simplified modes such as enhanced online interfaces. Technological advancement could be key for the growth of the world P2P lending market. Borrowers could receive instant updates about the amount of funds present in their bank accounts and completion of the lending process or seek funding online. Massive demand for simpler ways of getting student loans sanctioned supported by rising population of students is expected to bode well for the market. It could be cashed in on by vendors for gaining traction in terms of revenue share.

Today, lending and borrowing are said to have become an easier process due to the advent of advanced technologies such as prediction software that estimates the borrower’s financial capability to repay loans and also calculates loan amounts based on different factors.

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Borrowers Turning to Banks could Pose Possible Risk to Market

The international P2P lending market could be risked by the turning away of borrowers and finding more interest in other professional lenders including banks. There is a huge pressure on conventional lenders as well as banks to improve their interest rates owing to the ongoing battle of securing a larger market share. Consequently, the future of the market could be dented due to the rise of schemes offering high interest rates on savings. Moreover, defaults in loan repayment increasing direct risks that investors are exposed to are foreseen to hamper the demand in the market.

However, there could be strong growth opportunities available in China and India because of their colossal population base. Furthermore, there is a wide gap between the willingness of P2P lending vendors to expand their business and inaccessibility to credit modes that needs to be fulfilled. Asia Pacific could also offer lucrative prospects on the back of rising loan requirement of SMEs in its emerging economies.

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Video Analytics Market Demand, Brand Shares and Forecast 2020-2023

The global video analytics market is eminently competitive and highly fragmented due to the presence of many global leaders and small scale leaders, says an approaching Transparency Market Research (TMR) report. Some of the global players in the market include Vigilon Corp, VCA Technology Ltd., Genetec Inc., IntelliVision, United Technologies Corp. These players are focusing on providing innovative product line at a better price. They are also adopting new strategies such as mergers and acquisitions, and collaborations to capture the competitive edge in the global video analytics market. 

Increasing concern over security at commercial places is likely to boost the global video analytics market during the forecast period. The global video analytics market is projected to grow at a grand rate of CAGR 20.60% over a period 2015 and 2023. The global video analytics market was estimated at US$ 1.7 bn and it is anticipated to be valued at US$ 9.15 bn by the end of 2023. 

In terms of geography, the global video analytics market is expected to be the dominant region during the forecast period. The growth can be attributed to growing investment of research and development activities and presence of several players in the region. Asia Pacific is also expected to emerge a strong region in the upcoming years. The growth in the Asia Pacific region is due to increasing support and contribution from India, China, Australia, and South Korea. On the basis op application the global video analytics market is segmented into people recognition, video indexing, license plate recognition, incident detection, object recognition, and others. Of these, the global video analytics market is predicted to be dominated by the people recognition application segment. 

Public Security to Bolster Growth in Global Video Analytics Market 

With rising population in urban sector, the movement of number of people at public places is ever increasing. To keep a track of movement of people and avoid any untoward incidences at public spaces such as schools, offices, colleges, bus stands, and railway stations, etc., is expected to bolster the demand for video analytic tools. Video analytics tools have an enormous capacity to count the number of people moving in such places.  Hence, the global video analytics market is expected to expand at an impressive rate in the upcoming years. 

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Moreover, sectors such as hospitals, airports, defence and military bases, amusement parks are also expected increase the demand for video analytics. It is mainly due to avoid terrorists’ activities and hijack and provide safe and secure environment in the each country across the globe. Thus, the global video analytical market is projected to expand at a substantial rate. 

Technological Progression to Promote Global Video Analytics Market 

Growing concern over pubic safety and government’s expenditure on research and development activities are projected to increase the demand for video analytics. Additionally, technologically advanced features as compared to manual surveillance and growing importance of advanced video surveillance at all public places are gaining traction across the globe. Hence, the global video analytics market is anticipated to grow at a grand way in the upcoming years. 

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Workspace as a Service (WaaS) Market Trends 2022

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

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

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

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Constantly Transforming Work Environments Compel Adoption of WaaS Solutions

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

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

Network Bandwidth and Infrastructure Limitations to Hamper Growth

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

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Desktop as a Service To See Considerable Demand

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

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Enterprise Mobility Market Technology, Cost Structure and Forecasts to 2022

Prospects of considerable revenue are what have attracted several new players to seek a foothold in the global enterprise mobility market. Transparency Market Research (TMR) notes that a growing number of new entrants are investing on developing new products and technologies that meet the current and a wide diversity of needs of end users. Top players are relying substantially on strategic mergers and acquisitions to retain their stronghold in the enterprise mobility market. Large-sized companies are foraying into the market to tap into emerging streams of revenue. The landscape in the global enterprise mobility market is fairly fragmented but increasingly competitive, observes TMR.   

Some of the players holding sizeable stakes in the global enterprise mobility market are AT&T Inc., Alcatel Lucent S.A., Symantec, IBM Corporation, MobileIron, and Citrix Systems Inc.

The global enterprise mobility market is projected to rise at stellar CAGR of 24.7% during 2015–2022. By the end of this period, the global market will reach a worth of US$510.39 billion by 2022. The market stood at US$86.36 billion in 2014.

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On the regional front, North America currently holds the major share in the global enterprise mobility market. However, in the coming years, Asia Pacific is expected to surpass this and hold sway by the end of the forecast period. The regional market will rise at phenomenal CAGR of 25.7% during 2015–2022. The growth is fueled by vast uptake of mobile devices in workplaces and the deployment of cloud infrastructure.

Among the various end-use industries, banking, financial services and insurance (BFSI) is anticipated to display the most attractive growth rate the global enterprise mobility market over the forecast period. This is attributed to the widespread adoption of mobility solutions by businesses in the industry.

Rising Trend Increasing Trend of Bring Your Own Device across World bolstered Expansion

The increasing trend of bring your own device (BYOD) among employees, which was characterized by the rising use of employee-owned devices, set the pace for BYOD policies in various industries. This is a key factor that led to the steady evolution of the enterprise mobility market. This trend was increasingly fueled by growing inclination of employees to work remotely. The momentum traction, especially in developed nations, from the potential benefits of adopting enterprise mobility in productivity.

The enterprise mobility market gained substantial momentum from constant developments in communication infrastructure that can integrate seamlessly with a range of computing devices for enterprise use.  The staggering rise in number of smartphones and laptops used for BYOD is also boosting the enterprise mobility market. Intensifying focus of IT departments of companies on enterprise mobility management has paved the way for embracing of successful enterprise mobility strategy.

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Embracing Granular Enterprise Mobility Security Measures help Industries address Key Challenges

However, the steady growth of the enterprise mobility market is hampered by several limitations pertaining to the use of BYOD devices. Low device lifecycle, lack of end point ownership, lack of standardized operating systems, and the risk of costly security lapses are few of the most notable ones, impeding the demand for enterprise mobility solutions.

Nevertheless, constant focus toward embracing robust and comprehensive enterprise mobility security measures to address security lapses is contributing momentum to the market. Growing focus on mobile application management and identity and access management is a recent case in point. Recent strides in mobile application development is likely to create new avenues in the market.

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Product Lifecycle Management (PLM) Market Impact Analysis

Transparency Market Research (TMR) found the global product lifecycle management (PLM) market has presence of numerous local and international players, which is leading to make vendor landscape more fragmented and competitive. Some of the prominent players operating in the global product lifecycle management (PLM) market are Hewlett-Packard Company, IBM Corporation, Accenture PLC, Dassault Systems, and Autodesk, Inc. Also, the market is experiencing the entry of new players which is further intensifying the competition among key players. In order to stand alone in the cutthroat competition, the key players are trying to improve their products and add the advanced features in the systems. 

According to a report by TMR, the global product lifecycle management market was valued at US$40.26 bn in 2014 and expected to attain a value of US$75.87 bn by the end of 2022. The market is expected to swell with a CAGR of 8.1% during the predicted years from 2015 to 2022. Based on deployment, the global product lifecycle management (PLM) market is dominated by the on-premise segment in 2014. Based on application, the aerospace and defense segment dominated the product lifecycle management (PLM) market in the year 2014. Based on region, North America accounted for near about share of 33% in 2014 owing to growing investment in research and development for product innovation coupled with the presence of numerous players in the region.        

Growing Adoption for Improving Production Efficiency to Propel Growth

PLM systems reduces the operational cost and enhance productivity by adopting the numerous methodologies and lowers firing in any organization. These advantages of the product are boosting adoption of the PLM across numerous industries which are further boosting the growth of the product lifecycle management (PLM) market.

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The PLM system is experiencing robust demand from aerospace and defense and banking systems among other important applications. The emergence of the defense sector due to unstable political environment among numerous countries is boosting adoption of advanced techniques to ensure the safety of the nation is fuelling adoption of PLM and boosting the growth of the market. Additionally, PLM offers the information in a very systematic manner which is production and product design is boosting adoption of the PLM and likely to propel the growth of the market.

Additionally, growing need for innovative features in the PLM which is propelling adoption of the PLM and likely to drive growth of the product lifecycle management (PLM) market. In addition, numerous key players are increasingly offering newer features along with customization of systems to some extent which is further encouraging adoption of the PLM and likely to propel growth of the product lifecycle management (PLM) market.

High Cost of PLM to Hinder the Growth

Despite these factors, the high cost of PLM and complexity in the installation and handling of the systems can hamper adoption due to the requirement of higher capital which is hampering growth of the market. Additionally, implementation of PLM requires additional maintenance of the database, data formats, and low interoperability in two versions coupled with the presence of a number of alternate products is hindering growth of the global product lifecycle management (PLM) market. Furthermore, the involvement of third-party organizations is further increases expenditure and likely to restrain the growth of the global product lifecycle management (PLM) market.

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Nonetheless, increasing adoption from emerging aerospace and defense segment among other applications is offering lucrative opportunities for growth and likely to remain most lucrative over the forecast period. Moreover, growing improvement in the product as per the demand from the user and growing customization based companies are offering opportunities for key players in the product lifecycle management (PLM) market.

This information is encompassed in the new report by TMR, titled “Product Lifecycle Management (PLM) (By Component Type - Software, Services; By End-use - Automotive and Transportation, Aerospace and Defense, Industrial Machinery and Heavy Equipment, Electronics and Semiconductor, Energy and Utilities, Consumer Products and Retail, Medical Devices and Pharmaceutical, IT and Telecom, and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022.”

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