Digital Door Lock System Market Recent Trends, In-depth Analysis Research Report Forecast by 2024

An up to date intelligence report compiled at the headquarters of Transparency Market Research (TMR) has projected the demand in the global digital door lock system market to augment at a remarkable CAGR of 34.7% during the forecast period of 2017 to 2024. In terms of value, the digital door locking systems market is estimated to be worth US$11,230.0 mn by 2024, mounting rapidly from its evaluated valuation of US$1,481.8 mn as of 2017. Volume-wise, a demand for 258,101 units of digital door lock systems is foreseen by the end of 2024.

Besides providing figurative analysis into the lucrativeness of different segments of digital door lock system, and revealing demand-potential of important regions and countries, the report has a featured section on vendor landscape. The analyst of this business study has detected a highly competitive scenario, attributing it to the low entry barriers of the market. There is strong presence of domestic and country-wide players as the technology is now quite accessible.

These players are expected to continue eating a significant chunk of shares in the digital door locking system market in the near future. That being said, a few well-established and global companies do hold a position of moderate strength over regional and localized players, providing for a diverse portfolio and top-notch technology. The report profiles quite a few prominent companies operating in the global digital door lock system market, including Honeywell International, Inc., Siemens AG, the ASSA Abloy Group, Hitachi Ltd., Cisco Systems, Inc., and Godrej & Boyce.

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Going forward, acquisition of promising smaller players is expected to be a key strategy of the market leaders to increase their shares, as it helps them strengthen their supply chain as well as enhances their product portfolio. Pioneering advancements to leverage cloud-based and Bluetooth technologies is also anticipated to be a mode of carving a niche in the market for the financially stronger players.

On the basis of product type, the report segments the market for digital door lock system into keypad lock including magnetic stripe, electric strike, and electromechanical door, and biometrics, which has been further sub-segmented into the recognition of fingerprint, voice, face, signature, iris, and palm.

Based on end-users, the digital door locking systems market has been bifurcated into residential, commercial, industrial, and government. Geographically, North America and Europe are currently providing for the most prominent chunk of demand. However, the region of Asia Pacific is primed to generate demand at an above-average CAGR during the forecast period of 2017 to 2024.

Mushrooming SMEs Driving Demand

Growth of small and medium enterprises (SMEs) across the world, particularly in the BRICS nations, is the primary driver of the global digital door lock system market. These systems enables SMEs to allow grant controlled access to their labor force, which goes a long way towards achieving greater efficiencies. In addition to the mushrooming of SMEs in the commercial sector, the global digital door locking system market is gaining traction from government emphasis on building smart cities.

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Building and construction companies are now equipping their apartments with modern locking systems to lure newer customers. As the awareness regarding the benefits offered by these system spreads, the market is expected to prosper. On the other hand, high cost of these systems is the most prominent restraint that is holding the market from flourishing.

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Personal Protective Equipment Market Trends, Analysis, Opportunities, Share and Forecast to 2025

According to a new research study by Transparency Market Research (TMR), the increasing requirement of organizations to modify their business models in a bid to include frequently changing rules and regulations is fueling the demand for personal protective equipment across the world. The key players in the global personal protective equipment market, such as Avon Rubber, 3M Co., MSA SAFETY, Ansell Ltd., National Safety Apparel, National Safety Apparel, Kimberly-Clark Corp., Uvex Safety Group, Honeywell Safety Products, COFRA Holding AG, and Rock Fall Ltd. are working consistently to meet the demand of consumers.

Currently, these vendors are emphasizing on product innovation to strengthen their foothold in the market. Over the coming years, they are expected to involve increasingly into strategic partnerships to expand their regional boundaries, notes the market study.

As per the research report, the global market for personal protective equipment market stood at US$40.4 bn in 2016. The opportunity in this market is projected to expand at a CAGR of 7.0% over the period from 2017 to 2025 and rise to US$72.08 bn by the end of the forecast period. The manufacturing industry has surfaced as the leading end user of personal protective equipment and the scenario is anticipated to remain so over the next few years. Among products, the demand for fall protection equipment is relatively higher and researchers expect this trend to continue in the near future, states the research report.

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“The rapid industrialization is the main driving force behind the growth of the worldwide market for personal protective equipment,” says an analyst at TMR. The increasing awareness among consumers pertaining to personal safety and the substantial increase in the manufacturing and the transportation sectors are also propelling the market considerably.

On the other hand, the volatility in the raw material prices may hamper the market’s growth in the near future. However, the increasing implementation of stringent rules and regulations for work place safety by several government authorities is anticipated to support this market over the forthcoming years, states the research report.

North America to Remain on Top

The research report also offer a geographical analysis of the global market for personal protective equipment. According to it, North America emerged as the leading regional market for personal protective equipment in 2016 and acquired a share of 38%. With the extensive uptake of personal protective equipment across a number of industries in this region, the North America market for personal protective equipment is anticipated to remain on the top over the next few years, reports the research study.

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The review is based on a report by Transparency Market Research (TMR), titled “Personal Protective Equipment Market (Product Type – Eye and Face Protection, Head Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Professional Footwear, Fall Protection, and Hand Protection; Application – Construction, Manufacturing, Oil & Gas, Chemicals, Food, Pharmaceuticals, Transportation, and Healthcare) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”

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Hand Wash Station Market Share, Price, Growth Rate by 2030

 

• A hand washing station is a portable sink which can be placed for outdoor hand cleaning. The product is also used for indoor applications.

Key Drivers of the Global Hand Wash Station Market

• Rising prevalence of H1N1 and COVID-19 is one of the key drivers of the hand wash station market. Rising consumer awareness about the importance of hand hygiene is expected to have a positive impact on the global hand wash station market.
• As per guidelines published by the World Health Organization (WHO) on April 1, 2020, every private and public commercial building should install a hand wash station for public access. This is one of the major reasons for the sales of hand wash stations at the global level.
• Huge innovations and technological advancements in the manufacturing process of hand wash stations, including foot pump sink, single sink, and multiple sink, drives the growth of the hand wash station global market.
• The commercial end-user segment is likely to expand at a higher pace in this market. Large number of corporate companies are installing hand wash stations near or inside their office premises.

Rising Investment from Government Sector to Create New Market Opportunities

• Governments of different developing countries are investing in hand wash station installation in rural and metro cities. This could create new opportunities in the market.

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High Bargaining Power of Buyers to Restrict Market Growth

• A large product range of hand wash stations are available in the market. Moreover, many small-scale manufacturers offer this product at a lower price. As a result, bargaining power of buyers is very high. This slows down the market growth for large scale manufacturers.

Asia Pacific the Dominant Market for Hand Wash Stations

• Asia Pacific accounted for the largest and fastest growing hand wash station market in 2019. North America and Europe accounted for significant share of the hand wash station market, with major players operating their global markets from these regions.
• Many small & medium companies are present in North America, Asia Pacific, and Latin America region. However, Germany and China are the hubs of hand wash station manufacturers.

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Key Players Operating in the Global Hand Wash Station Market

The global hand wash station market is fragmented in nature. Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the key players operating in the global hand wash station market are listed below:

• Acorn Engineering Company, Inc.
• CROWN VERITY INC.
• Monsam Enterprises
• PolyJohn
• Mr. John
• TEAL Patents
• Belson Outdoors
• Transplumb Water Technologies

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Tampons Market Growth Opportunity Analysis by Statistics & Outlook of COVID-19

Competition in the global tampons market rides on innovation as companies try to introduce a new product to garner the interest of consumers. These findings have been published in a recent report on the global tampons market by Transparency Market Research. With new players making headways due to demand, existing players are upping the ante to stay ahead in the league. Further, changing behavior of the consumers has led to evolution in the product line of several companies.

At the same time, regional players are striving to cut down costs of their products to compete with established brands. Some of the top names in the global tampons market include Bodywise (UK) Ltd, Svenska Cellulosa Aktiebolaget (SCA), Lil-Lets UK Limited, Corman SpA, First Quality Enterprises Inc., Johnson & Johnson Inc., Procter and Gamble Co., Edgewell Personal Care Company, Kimberly-Clark Corporation, and Unicharm Corporation.

The global tampons market is predicted to attain an overall value of US$6.34bn by the end of 2025. TMR analysts state that the global market for sanitary napkins will grow at a moderate CAGR of 5.6% in the future.

When it comes to geography, North America is considered to lead the global tampons market in the coming years. The high levels of awareness among women in countries like the U.S. are considered driving factors for growth here. Further, Europe will continue to remain a prominent region while Asia Pacific is expected to expand at a rapid pace.

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According to the World Bank, more than 500 million women across the world lack access to menstrual hygiene. It could lack of access to water, sanitation, or hygiene. This describes the voluminous potential for growth in the global tampons market. While most players in the global tampons market have tried capturing new geographical location every year, the demand is only expected to rise further.

A major role has been played by governments and non-profit organizations to instill menstrual hygiene awareness among women. Awareness activities in schools, rural areas, and universities has promoted the use of tampons. As a result, companies have attempted to rollout their own awareness programs to acquire new consumer base. These new techniques are expected to trigger growth in the global tampons market.

Further, growing population of women is also considered to trigger growth in the global tampons market. With many countries working on improving their male-female ratio, the female population has improved in countries like India. This trend is considered to fuel demand in the global tampons market.

Research and Development to Create New Opportunities

Technology is predicted to play a key role in driving growth in the global tampons market in the future. As requirements of consumers evolve with every day, companies are working on developing new-age products that cater to their varying demands. Many companies have heavily invested on research and development. The new opportunities created by consumers will open growth prospects for players in the global tampons market.

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Varying age groups, different health conditions, and other parameters are becoming key aspects for manufacturers to develop new products. At the same time, use of cheaper and eco-friendly raw materials, and easily disposable products are predicted stimulate growth in the global tampons market.

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Cast Iron Cookware Market Analysis, Future Growth Rate And Industry Forecast By 2020-2025

The vendor landscape of the global cast iron cookware market is primarily characterized by a high level of fragmentation owing to the presence of several multinationals as well as a large number of unorganized domestic players in key regional markets. Increasing competition among key players is the main challenge for cast iron cookware manufacturers, which is likely to lead to a decrease in profit margins. As competition intensifies in this sector, with price wars raging among leading players, industry players are expected to put increased focus on improving the efficiency of their value chain, from inbound logistics to distribution, and to a large extent, the marketing and export of products.

Additionally, companies are also trying to introduce a range of differentiated products and packaging for a high margin business segment, in order to cater to the evolving needs of customers, along with enhancing their customer base. Some of the leading companies in the market are Tramontina USA, Inc., The Coleman Company, Inc., Lodge Manufacturing Company, FINEX Cast Iron Cookware Co., Staub USA, Inc., and Le Creuset of America.

According to the report, the global cast iron cookware market is likely to expand at a CAGR of 3.4% from 2017 to 2025, rising from a valuation of nearly US$2,537.0 mn in 2017 to nearly US$3,303.0 mn by 2025. Of the key end-use consumer segments of cast iron cookware, the segment of food services accounted for the dominant 67.6% share of the overall market. Geographically, the market in Asia Pacific is likely to dominate the overall market in terms of demand through 2025, followed by the markets in Europe and North America.

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The increasing one-person households across the globe is a substantial global demographic change having extensive consequences, and is having deep implications on a number of businesses ranging from housing to healthcare. This trend is also expected to lead to a surge in the global demand for cast iron cookware in the near future. Over the last few years, consumer behavior has drastically changed and consumers are more inclined towards researching about products online and purchasing various types of cookware such as such as electric, non-stick, and cast iron cookware through e-Commerce websites. As such, the increased awareness regarding the health issues associated with coatings on non-stick cookware and aluminum products and the flourishing market for online retailing are boosting the cast iron cookware market.

Moreover, unique properties of cast iron cookware such as high durability, effective heat distribution, and the fact that cast iron cookware leach iron into the food during the cooking process, which may be helpful for iron deficiency problems, are also working in favor of the market.

Easy Availability of Lighter and Cheaper Alternatives to Negatively Affect Cast Iron Cookware Consumption Globally

One of the key challenge that is restricting the adoption of cast iron cookware is the fact that cast iron cookware is much heavier than cookware made from other materials such as aluminum and stainless steel. Furthermore, cast iron cookware is not recommended for use on glass cooktops. Glass stove tops require more careful use than coil tops and dragging the heavy cast iron cookware over glass cooktops can scratch the glass surface. Moreover, cast iron cookware is slow to absorb heat, and may damage the heating elements or break the glass stove top. Cast iron cookware with enameling at the bottom is equally unsafe on a glass cooktop.

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Furthermore, the global cookware market offers several alternatives such as aluminum, stainless steel, copper, and non-stick cookware. Stainless steel cookware are non-reactive, durable, and resistant to rust, dishwasher safe, corrosion, scratching, and denting. They last well and can be cleaned with heavy brushes or dishwashers without damage. Moreover, low cost of these alternatives could also challenge the overall cast iron market.

This analysis of the global cast iron cookware market is based on a recent market research report by Transparency Market Research, titled “Cast Iron Cookware Market (Product Type- Unseasoned, Seasoned, and Enamel Coated; End-use- Household and Food Services; Style- Dutch Ovens, Camp Pots, Skillets/ Fryers, Woks, Griddles, and Bake Ware; Sales Channel- Direct, Indirect (Modern Grocery Retailers and Traditional Grocery Retailers), and Online Retail) – Global Industry Analysis and Opportunity Assessment, 2017-2025.”

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Trade Finance Market Organization, Deployment Type, Vertical and Region – Global Forecast to 2030

Trade finance refers to the process of financing international trade flows. Trade finance assists in diminishing or mitigating the risk associated with international trade transactions. There are two players involved with a trade transaction, one an exporter, and the other one an importer. Trade finance is all about financing for the purpose of trade and it is related to both international and domestic trade transactions. Growing importance of international trade is likely to foster growth of the global trade finance market over the timeframe of analysis, from 2020 to 2030.

Insurance, bank guarantees, export financing, credit agency, receivables and invoice financing, and providing letters of credit (LCs) are all provided by trade finance. Exporters, importers, manufacturers, sellers, and buyers utilize it for the purpose of easing financing activities and it deals in the manner assets, investment, credit, and cash are utilized for trade. The ability to accelerate the procedure of making arrangement of short-term finance is likely to support growth of the global trade finance market in the years to come.

Product, service provider, end user, and region are the four important parameters based on which the global trade finance market has been classified.

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Global Trade Finance Market: Notable Developments

One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global trade finance market is mentioned as below:

• In July 2019, American multinational bank, JPMorgan Chase & Co. acquired leading healthcare payments solutions provider, InstaMed Holdings, Inc. The latter is estimated to function as JPMorgan Chase Bank’s subsidiary. With the acquisition, it is expected that the clients of both JPMorgan Chase and InstaMed will be benefitted from this strategic move

Some of the prominent organizations in the global trade finance market comprise the below-mentioned:

• Royal Bank of Scotland
• Bank of America
• JPMorgan Chase & Co
• Mizuho Financial Group, Inc
• BNP Paribas S.A
• Mitsubishi UFJ Financial Group, Inc

Global Trade Finance Market: Key Trends

The global trade finance market is characterized by the presence of the following restraints, drivers, and opportunities.

Integration of Advanced Technologies into Trade Finance Activities to Boost Demand

The growth of the global trade finance market is likely to be driven by the rising import and export activities across the globe. Integration of latest technologies such as quick response (QR) codes, radio frequency identification (RFID), and optical character recognition (OCR) technologies are likely to bolster growth of the global trade finance market in the forthcoming years. QR codes are used to track and identify shipments and OCR technology is utilized for the purpose of reading numbers of containers. Growing digitization is likely to work in favor of the global trade finance market over the timeframe of analysis, from 2020 to 2030.

Increased implementation of pricing and structuring methods along with strategic development is anticipated to foster development of the global trade finance market over the timeframe of analysis, 2020 to 2030. Utilization of technologies such as internet of things (IoT), machine learning (ML), and artificial intelligence (AI) in commercial finance is likely to augur well for the market in the years to come.

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Global Trade Finance Market: Geographical Analysis

Asia Pacific is estimated to be one of the most dominating forces in the global trade finance market over the timeframe of analysis, from 2020 to 2030. Increased funding from the government is anticipated to add to the development of the global trade finance market over the tenure of analysis, from 2020 to 2030. China is likely to remain at the forefront of the growth of the market in Asia Pacific.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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Smart Trash Bin Market Dynamics, Applications and Emerging Growth Factors -2030

 

• A smart trash bin is a technologically advanced waste management system. It has wireless ultrasonic sensors embedded inside which monitors the bin through IoT. This data is further sent to a cloud-based monitoring and analytics platform.
• Major players across the globe are introducing smart trash bins with unique materials and advanced technology that help users in easing logistics, reducing costs, and improving the environment. This is likely to drive the demand for smart trash bins in the coming years.

Rising Usage of Smart Trash Bins

• Increasing awareness about the usage of technologically advanced trash bins among users is influencing them to opt for smart trash bins. Emerging countries across the globe are promoting their major cities with smart technology in order to meet smart city project initiatives, which is likely to gain demand for smart trash bins. End-users consider these systems effective as they offer multiple benefits in terms of time saving, minimizes infrastructure, and operating costs by up to 30%. In addition, rising dependency of users on smart systems that have the ability of reducing manpower requirements to handle the garbage collection process, is found to be an additional benefit in different geographies. This is promoting the growth of the global smart trash bin market.

Presence of Alternate Solutions: A Key Restraint

• Easy availability of several alternative solutions to trash bins across the globe is likely be a major barrier to the growth of the smart trash bin market. Users still find a traditional bin to be more convenient, as it is cost effective and easy to use. Wireless technologies used in the smart trash bin has a shorter range and lower data speed. It also needs sensor nodes for its operation which has limited memory size. In addition, cost required for training the employees to operate smart trash bins along with its overall maintenance cost may impact the growth of the smart trash bin market.

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Asia Pacific a Potential Market for Smart Trash Bins

• The global smart trash bin market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)

• North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the smart trash bin market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The smart trash bin market in South America has been segmented into Brazil and Rest of South America.
• Asia Pacific is expected to remain a potential market for smart trash bins during the forecast period, owing to demand for trash bins and increasing preference for smart products in the past few years in the region.

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Key Players Operating in the Global Smart Trash Bin Market

The global smart trash bin market is fragmented in nature, due to presence of a large number of global and regional players. A few of the key players operating in the global smart trash bin market are:

• EKO USA
• Enevo Oy
• Home Depot, Inc.
• Honey-Can-Do International
• iTouchless Housewares &
• Products, Inc.
• Nine Stars Group USA, Inc.
• Simplehuman

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