Surface Vision and Inspection Market : Insights into the Competitive Scenario of the Market

Transparency Market Research’s new market study on the global surface vision and inspection market provides quantitative and qualitative analysis of the various segments of the market. The research report presents an in-depth analysis of the said market, wherein the past behavior, current trends, and future growth prospects are considered. The report, titled “Surface Vision and Inspection Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, is available for sale on the company’s website.

The global surface vision and inspection market was valued at US$1.2 bn in 2012. Displaying a CAGR of 8.90% from 2013 to 2019, the market is expected to attain a value of US$2.3 bn by 2019. The robust yet simple techniques that are used in surface vision and inspection processes are the major factor driving the global surface vision and inspection market, says the report.

The foremost utility of surface vision and inspection lies in determining the presence of requisite features as laid for terminal products, especially in manufacturing industries. Thus, employing this technique, the accuracy of the assembly of a product can be checked and flaws or defects pertaining to the surface of intermediate parts can be detected. Burned steel, seams, twists, scabs, laps, and guide marks are some of the common surface defects of intermediate components.

Component, application, type, and region are the criteria based on which the global surface vision and inspection market is examined in this report. By component, cameras were the leading segment in the global market in 2012. However, it is the software and hardware segment that will exhibit the fastest growth during the forecast period. Due to the increasing demand for effectual and user-friendly procedures for scrutiny of hardware and software components, surface vision and inspection systems are growing in demand.

By type, camera systems and computer systems are the segments of the global market, of which computer systems were the dominant segment in 2012. Computer systems are equipped to handle complicated operations owing to their superior processing abilities, thereby making them effective for surface vision and inspection systems.

However, camera systems will witness an upsurge in the global market for surface vision and inspection during the forecast period. Smaller size, lower cost, and lower maintenance of camera systems are the reasons for this.

On the basis of application, the largest market share was held by the semiconductor segment. The U.S. Food and Drug Administration and similar agencies in other nations are implementing standards for uniformity in manufacturing processes, which will require widespread usage of surface vision and inspection systems.

North America is the largest regional market for surface vision and inspection, with a revenue contribution of US$368.4 mn to the global market. However, manufacturers of surface vision and inspection systems in North America and Europe are transferring operating facilities to Asia Pacific, where low labor wage practices are still prevalent. This will benefit the Asia Pacific surface vision and inspection systems market to some extent.

Predictive Analytics Market : Projection of Each Major Segment over the Forecast Period

According to a recent market research report published by Transparency Market Research, the global predictive analytics market is expected to grow positively at a CAGR of 17.8% during the period between 2013 and 2019. The report, titled “Predictive Analytics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019”, projects the global predictive analytics market to be worth US$6,546.4 million by 2019. The overall market was valued at US$2,087.3 million in 2012.

The report points out that the rise in awareness towards big data and its analysis for future estimation will drive the global predictive analytics market during the forecast period. Increasing business interest in advanced big data analytics will further boost the market’s growth prospects. The presence of a large number of players in the predictive analytics market will induce price-competitiveness.

The growing need for product differentiation has led to the introduction and adoption of new technologies, which will positively impact the overall market.However, the report mentions that the cost and complexity of software and the dearth of skilled resources will restrict the growth of the global predictive analytics market. The market has a huge opportunity to grow with the development of simple and successful user interfaces. The report states that the future outlook of the global predictive analytics market will be defined by cloud predictive analytics, real-time analytics, persuasion modeling, and ensemble modeling.

The report studies the global predictive analytics market on the basis of end-use industries such as banking and financial services; insurance; pharmaceutical; government, public administration, and utilities; telecom and IT; retail; transportation and logistics; manufacturing; healthcare; energy; media and entertainment; tourism; engineering and construction; sports; others.

The banking and financial services and insurance segments dominate the predictive analytics market worldwide and are expected to continue as the leading end-use industries. Growing consumer-driven digital data is expected to fuel the rapid growth of the retail and manufacturing sectors during the forecast horizon.Depending on the application, the global predictive analytics market has been divided into sales and marketing, customer and channel, finance and risk, and operations and workforce.

In 2012, finance and risk was the largest application segment of the market. The report studies the predictive analytics market across key regions such as Asia Pacific, Europe, North America, and Rest of the World. Growing demand for advanced business intelligence in North America has led to extensive growth of the predictive analytics market in the region. In 2012, North America accounted for a 55.9% share of the market. Europe has emerged as the fastest growing region owing to the large-scale adoption of predictive analysis across many industries.

Some of the key players in the global predictive analytics market are International Business Machines Corporation, Information Builders Inc., Microsoft Corporation, SAS Institute Inc., Oracle Corporation, Teradata Corporation, TIBCO Software Inc., and Fair Isaac Corporation. The market has been monopolized by the key players. In 2012, the top five players enjoyed an 80% share of the market.

Physical Security Market : Industry Analysis and Detailed Profiles of top Industry Players

Transparency Market Research’s (TMR) new report, titled “Physical Security Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”, offers key insights into the said market. According to this report, the global physical security market will expand at a healthy CAGR of 14.9% during the forecast period from 2013 to 2019. In 2012, the global physical security market was valued at more than US$48 bn and by 2019, the market’s value is projected to be more than US$125 bn.Component-wise, the global physical security market is divided into hardware and software. The key hardware segments of the global physical security market are intrusion detection and prevention, access control, and others.

Among components, the video surveillance segment led the global physical security market in 2012 with a market share of 72%. In addition to this, the video surveillance segment is projected to expand at the highest CAGR during the forecast period. In the access control market, the biometric access control segment held the largest market share of nearly 38% in 2012.Software-wise, the global physical security market is classified into management analysis and modeling software and physical security information management (PSIM).

Service-wise, the global physical security market is segmented into public alert and warning system, security consulting, public safety answering point (PSAP), technical support, remote management services, video surveillance as a service (VSaaS), and others. The VSaaS market is projected to expand at a marked CAGR of 18.1% till 2020.

Application-wise, the global physical security market is divided into transportation and logistics, hospitality and casinos, business organizations, retail, industrial, chemical facilities, utilities/energy, control centers, government and public sector, and others. The transportation and logistics segment dominated the global physical security market in 2012.

Geography-wise, the global physical security market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America dominated the global physical security market in 2012. On the other hand, Asia Pacific is projected to witness the highest growth, at a CAGR of 17% during the forecast period. The growing support from police forces and the government sector to advance security and prevent the frequent incidents of crime and terror attacks will fuel this regional market.

The global physical security market is driven by the growing security concerns around the world and the accelerating budget allocation for physical security by governments. Moreover, factors such as rising adoption of physical security systems in business organizations and growing demand for complex and effective security management products and solutions will also drive the global physical security market. On the other hand, the global physical security market will be restrained by device interoperability issues related to physical security systems.

Players in the global physical security market will tap into market opportunities such as growing awareness regarding smart cities, utilizing smart security and emerging technologies such as cloud. The key players operating in the global physical security market are Morpho SA, Honeywell Security Group, NICE Systems, Siemens AG, Assa Abloy AB, BM Corporation, McAfee, and EMC Corporation.

Another prominent trend that will shape the global physical security market is convergence. In the future, almost all physical security systems will rely on IT systems and networking protocols to support their operations. This growing convergence will bring flexibility in deployment of physical security and drive the global physical security market in the years to come.

Managed Security Services Market : Development Insight and Manufacturers Challenge Competitors

Transparency Market Research (TMR) has published a research report on the global managed security services market, forecasting that the market will expand at a CAGR of 15.40% during the period from 2013 to 2019 and reach a value of US$24,127.1 mn by the end of the forecast period.The market study, titled “Managed Security Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2019”, states that the worldwide managed security services market stood at US$9,249.7 mn in 2012.

According to the report, the rising awareness regarding the benefits these services offer has fueled the demand for managed security services in the global arena. Additionally, the emergence of cloud-based managed security services is likely to boost the global market significantly over the forecast period. However, the reluctance among consumers to share confidential information is projected to limit the growth of this market in the coming years.Based on the modes of delivery, the worldwide market for managed security services is classified into the markets for consumer premise equipment (CPE)-based services, cloud-based services, and hybrid services, which is an integration of cloud-based and CPE-based services.

Among these, the market for cloud-based services leads the global market on account of the ease of installation and low maintenance cost. The report further states that this market segment is expected to retain its position in the global managed security services market during the forecast period.The banking & financial services and insurance (BFSI), healthcare, manufacturing, government & utilities, retail, telecom & IT, education, R&D, and hospitality sectors are the key end users. The report also cites that network security, business continuity, access control, confidentiality, compliance, and risk assessment are the major application areas of managed security services.

The BFSI, telecom and IT, and government and utility sectors emerged as leading end users of managed security services, collectively accounting for a share of 59.2% in 2012. The network security, compliance services, and confidentiality markets held the leading position among application segments with 67.4% of overall market the same year, reports the study.The report also segments the global managed security market regionally into North America, Asia Pacific, Europe, and the Rest of the World. The managed security services market in North America has been the leader among the regional markets and it is likely to maintain its dominance over the forecast period.

Europe has occupied the second position in this market. However, analysts at TMR have predicted the Asia Pacific managed security services market to register the fastest growth during the forecast period.The global market for managed security services is led by Hewlett-Packard Co., Dell SecureWorks Inc., IBM Corp., and EMC Corp.

Other prominent players operating in this market are AT&T Inc., Fujitsu Ltd., Dell SecureWorks Inc., Symantec Corp., Bell Canada Inc., Trustwave Holdings Inc., Verizon Communication Inc., Wipro Technology Services Ltd., CenturyLink Inc., Tata Communications Ltd., and Intergalis AG, reports the market study.

Personal and Entry Level Storage Market : Clear Understanding of The Competitive Landscape and Key Product Segments

The need for proper and secure data storage and management in today’s digital age is imperative, and this drives the demand for personal and entry level storage (PELS) systems, states a new report by Transparency Market Research. The report – titled “Personal and Entry Level Storage (PELS) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” – states that fueled by a number of strong factors, the global personal and entry level storage market systems is projected to register a massive leap from US$5 billion in 2012 to US$39.49 billion by the end of 2019.

This means that the market will register a remarkable compound annual growth rate of 35.1% over the forecast period of 2013-2019.The personal and entry level storage market is highly fragmented and the research report segments the overall market on the basis of product or service, technology, end-use application, and geography.

By product or service, personal and entry level storage systems are classified into flash drives, hard disk drives (HDD), cloud storage, recordable discs, and solid state drives (SSD). Among these, HDD dominated the global scenario with a 32% share of the overall personal and entry level storage market thanks to larger storage space offered and lower cost. With SDDs now offering longer life span, speedier data transfer rates, silent operations, and portability, this segment is expected to surpass the demand for HDDs in the forecast period.

In terms of technology, the personal and entry level storage market can be divided into direct attached storage (DAS), serial attached SCSI (SAS), cloud storage technology, fiber channel storage, network attached storage, and IP based storage.

Out of these, cloud-based storage has been identified as the fastest growing technology segment, presenting a 48.6% CAGR from 2013 to 2019. The various end-use industries that use personal and entry level storage systems are communications, financial services, media and entertainment, healthcare and life sciences, public sector, and internet services; among these the media and entertainment industry dominated on the global front.

Geographically, the worldwide market for personal and entry level storage covers North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific emerged as the frontrunner in the global market, accounting for a 42.5% share in 2012. One of the primary reasons for the region’s leading position is the presence of three significant HDD manufacturers – Toshiba, Western Digital, and Seagate – who have their base in Asia Pacific.

The global personal and entry level storage market has numerous players operating at an international and domestic level. These include Hewlett-Packard Company, CA Technologies, Brocade, International Business Machines Corporation (IBM), Symantec Corporation, NetApp Inc., Dell Inc., Seagate Technology, EMC Corporation, Cisco Systems Inc., Hitachi Data Systems (HDS), Western Digital Corporation, and Toshiba Corporation. Of these, EMC Corporation dominated the market with a 30% share, with Hitachi, IBM, and HP following suit.

Freeze Drying Equipment Market: Opportunity Analysis and Industry Forecast upto 2019

A recently released report from Transparency Market Research (TMR) forecasts that the global freeze drying equipment market will expand at a CAGR of 10.50% from 2013 to 2019. According to TMR, a market intelligence firm, the global freeze drying equipment market, which in 2012 stood at US$15.9 bn, is anticipated to reach US$30.98 bn by the end of the forecast period.

The report, titled ‘Freeze Drying Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019’, is available for sale on the company website.According to this market research report, the global freeze drying equipment market is fueled by the pressing need for food preservation over longer periods and surging demand from the global pharmaceuticals market.

The higher quality of freeze drying equipment over air drying and desiccant drying makes it widely preferred choices across various industries. The technique of drying a food product of all its moisture content is known as freeze drying. Most pharmaceutical and food processing industries today are investing hugely in installing freeze dryers with varying capacities and high level of performance. Freeze dryers are mostly used in large scale industries that are characterized by production lines that are installed in line to freeze drying equipment.

This TMR report segments the global freeze drying equipment market on the basis of product, application, and geography. On the basis of product, this market is segmented into general purpose freeze dryers, industrial freeze dryers, mobile freeze dryers, benchtop freeze dryers, and laboratory freeze dryers. In 2012, the industrial freeze dryers segment held the highest share of the overall market.

The segment for laboratory freeze dryers is a rapidly growing segment and is anticipated to expand robustly during the forecast period. The surging demand for mobile freeze dryers can be attributed to the flexibility and ease of operation exhibited by these. Application-wise, the global freeze drying equipment market is segmented into biotechnology, surgical procedures, pharmaceuticals, and food processing.

Growing demand for freeze drying equipment from the food packaging market is expected to fuel this market during the forecast period. The biotechnology segment is projected to expand at a healthy CAGR of 11.20% from 2013 to 2019. The pharmaceuticals market uses freeze drying equipment for capsule packaging and antibiotics.

Geographically, this market research study segments the global freeze drying equipment market into Asia Pacific, Europe, North America, and Rest of the World. In terms of product sales, the global freeze drying equipment market is led by North America, which holds approximately one third share of the overall freeze drying equipment market. The Asia Pacific freeze drying equipment market is expected to witness the fastest growth in the years to come.

High installation costs is a glaring restraint in the global freeze drying equipment market. This report identifies the following companies in the global freeze drying equipment market: LTE Scientific Ltd., Millrock Technology Inc., OPERON, MechaTech Systems Ltd., Thermo Fisher Scientific Inc., and Telstar amongst others.

Consumer Product and Retail Market: Industry Analysis, Opportunity Assessment and Forecast upto 2022

According to a new market report published by Transparency Market Research “Consumer Products and Retail Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022,” the global PLM market for consumer products and retail end-use market, in terms of revenue, was valued at US$ 2.79 Bn in 2014 and is forecast to expand at a CAGR of 10.4% during the period 2015 to 2022.

The shift from traditional end-use sectors to non-traditional end-use sectors such as retail and consumer products and packaged goods and the growth of modern grocery retail stores in emerging economies are the key factors driving the growth of PLM market for consumer products and retail end-use, globally. In addition, small and mid-sized companies are leveraging on cloud-based PLM solutions for high ROI and need for increases in productivity and product management among consumer and retail product manufacturers is further expected to drive the growth of this market over the forecast period.

The global PLM market for consumer products and retail end-use by components category was dominated by the software segment with a market share of 46.2% in 2014. Globally, the demand for PLM software is driven by a reduction in time-to-market new products and reduction in operational cost.

Rising demand for process automation, product data management, and integration with emerging tools such as analytics software would continue to fuel the growth of PLM software during the coming years. The share of on-premise PLM software market is forecast to expand at a moderate rate during the forecast period from 2015 to 2022. The cloud-based PLM software market segment is expected to have fastest growth during the forecast period from 2015 to 2022.

By end-use application sector, the consumer packaged goods sector, with over 46.4% share in 2014, was the largest segment in the overall PLM market for consumer products and retail end-use in terms of revenue. The adoption of PLM in the consumer products and retail industry is anticipated to rise significantly over the coming years.

The increasing focus of retail companies on improving profitability and enhancing brand equity is aiding the growth of the PLM market in retail. During the recent years there has been significant rise in demand for PLM from the apparel industry, which is leading to the growth of overall PLM market. The footwear sector is expected to be the fastest=growing market for PLM solutions in consumer products and retail end-use.

North America led the global overall PLM market for consumer products and retail end-use market in 2014 with the share of about 35.7% in 2014. North America is the most significant market for PLM and its growth is majorly driven by the expansion of the PLM footprint in large enterprises, increasing adoption by SMEs, and penetration of PLM in new industries, such as consumer goods, retail, and telecom. Growing demand for features such as analytics and mobility would be the key trends in the North American PLM market. On account of new opportunities, the MEA and Latin America PLM market for consumer products and retail end-use is expected to expand at a CAGR of 17.2% and 15.9%, respectively, during the forecast period from 2015 to 2022.

The key PLM solution & service providers in the PLM market for consumer products and retail end-use are Dassault Systemes, PTC, Inc., Autodesk, Inc., SAP SE, Oracle Corporation, Gerber Scientific, Inc., Infor, Centric Software, Selerant Corporation, IBM Corporation, Accenture PLC, Atos SE, and Hewlett-Packard Company.

Connected Car Market: Present Scenario and the Growth Prospects with Forecast 2019

The competitive landscape of the global connected car market included players such as Ford Motor Company, General Motors, BMW AG, Sierra Wireless, Audi, Gemalto, Mercedes-Benz, Toyota Motor Corporation, Hyundai Motor Co., Verizon Communications, Delphi Automotive, and Microsoft Corporation. The entry of technology companies in the market landscape has intensified the competition. A number of automotive companies are partnering with technology firms to develop connected cars.

The market players have registered an increased demand for 4G technology among users. As it is the fastest connectivity technology, it accounted for over 30% of the market in 2013 with users preferring it to download the latest apps and services in a vehicle. Furthermore, the market players are focusing on developing advanced navigation systems in connected cars. “The growing demand for real time updates about traffic has made the navigation system as the most sought after feature in connected cars,” a TMR analyst points out.

Among the key regions in the global connected car market, North America accounted for the largest share in 2012. The presence of a number of automotive companies and technology players has supported the growth of the market in the region. However, market players are eyeing Asia Pacific as the future market for connected cars. “The rising demand for applications such as fleet management, navigation, and infotainment from China will augment the growth of the regional connected cars market,” the TMR report.

The growing awareness about road safety and security has led to the increased demand for connected cars. The rising need for connectivity, emerging applications in vehicles, the growing demand for commercial B2B services, and the implementation of various government mandates regarding safety of drivers has further supported the growth of the global connected car market. “In-car infotainment services have played a pivotal role in the growth of the connected cars market worldwide,” cites a TMR analyst.

However, the high hardware and communication cost in connected cars might restrain the market’s growth during the forecast period. Complex user interfaces have been associated with driver distraction, thereby increasing safety risks. A number of accidents during test phases of connected cars might negatively impact the growth of the market.

The advancements in network technology have created immense opportunities for the growth of the market. The growing trend of luxury and high tech vehicles across developed economies, changes in regulations regarding road tolling, laws restricting the usage of handheld mobile devices during driving, and affordable rate of data packages for mobile networks are some of the key trends that would define the future of the global connected car market.

The global connected car market is anticipated to reach a valuation of US$131.9 bn by 2019.

The information presented in this review is based on a Transparency Market Research report, titled “Connected Car Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019.”

Global connected car market has been segmented as:

Connected Car Market, by Connectivity Technology:

4G technology,3G technology,2G technology

Connected Car Market, by Connectivity Solutions:

Embedded,Tethered,Integrated

Connected Car Market, by Application:

Navigation,Telematics,Infotainment

Connected Car Market, by Geography:

North America,Europe,Asia Pacific,Rest of the World (RoW)

Telecom API Platform Market: Present Scenario and the Growth Prospects with Forecast 2022

The global telecom application programming interface (API) platform market features an intensely competitive landscape with the presence of a vast number of players, notes Transparency Market Research (TMR). Owing to a steady expansion of telecommunication application ecosystem spanning numerous industries, the market is witnessing a constant influx of players that help in sustaining the high level of competition. Some of the leading companies in the telecom API platform market are Tropo, Inc., Alcatel-Lucent, Aepona Ltd., Twilio Inc., LocationSmart, Apigee Corp., and Comverse Technology, Inc.

The leading players in the market are capitalizing on surging opportunities in the machine-to-machine (M2M) devices market, observes TMR. Several telecom operators are increasingly entering into partnerships with various API management service providers, such as Apigee Corp. and Alcatel Lucent, in a move to consolidate their shares in various regions.

Several telecom API platform developers are adopting long-tail strategy of targeting ambitious developers, including enterprise developers, in order to emerge as a prominent player globally. A number of players operating in the API platform market for telecommunication opt for strategic acquisitions in order to occupy a sustained shsare.

The global telecom API platform market is projected to rise at a CAGR of 23.6% during 2014 – 2022. The market stood at US$73.49 bn in 2015 and is projected to reach US$323.44 bn by the end of the forecast period.

Regionally, North America is the leading market for telecom API platforms with the major chunk of opportunities coming from countries such as the U.S. and Canada, primarily attributed to the substantial adoption of M2M communication technologies for mobile applications. Based on end-use application segment, long-tail developers (independent developers) is expected to rise at the leading CAGR of 25.9% from 2015 to 2020. The growth is primarily driven by the substantial demand for new mobile applications among technology companies.

The rising adoption of browser-based internet services in various regions and the proliferation of cloud-based applications are the key factors driving the global telecom API platform market. The intensifying demand for a robust digital ecosystem in several industries is a key trend bolstering the demand for API platforms in the telecom sector. The soaring popularity of 4G LTE networks in developing and developed markets is a key factor expected to boost the market. In addition, the rising demand for integrating app from disparate operators to build industry-wide robust apps for augmenting network capabilities is a key trend expected to boost the telecom API platform market in the coming years.

The growing popularity of mobile cloud applications is fueled by the growing demand for voice API services, which is expected to bolster the uptake in the coming years.

The rising inclination of some prominent technology companies to open their platforms for long-tail developers is expected to catalyze the market over the forecast period. The rising prominence of enterprise developers in the development of telecom API platforms is stimulated by the accelerated demand for customized applications in mobile devices. In addition, the growing popularity of A2P (application-to-person) SMS messaging is further anticipated to accentuate the demand.

The reluctance of a marked number of telecom providers to shy away from engaging external app developers as these companies develop platforms that offer little scope to these developers in innovation. This has made a dent in their earning in the highly competitive telecom sector, as a result of which their focus on developing API platforms has taken a backseat. Nevertheless, in an effort to explore new revenue streams, they are realizing the importance of faster time-to-innovation for new telecom applications and services. This is expected to open lucrative growth avenues for players in telecom API platform market.

The growing prominence of API integration service providers is predicted to unlock exciting opportunities in various regions. In addition, the rising demand for M2M connectivity in smartphones, especially in developed countries, is expected to open up lucrative avenues for market players.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Telecom API Platform Market (Telecom Operator – T1 Player, T2 Player, and T3 Player; Module – Set-up and Monetization and Pricing Model (Operator Share and Vendor Share))- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Electrical Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow

The population in Saudi Arabia is rising at a steady pace. Moreover, the emirate has also witnessed an increasing influx of expatriates in the recent years. This has compelled the government to invest in large scale infrastructure projects. As per a lead analyst at TMR, “The increasing construction activities make the country extremely lucrative for enterprises operating in the electrical market.”

The rising energy demand in the Middle East will also bolster sales of electrical and lighting products in Saudi Arabia. The country is also planning to invest in the construction of suitable infrastructure to support energy generation and transmission. This will further accelerate demand for electrical products in Saudi Arabia.“The rising demand for advanced electrical products compatible with the infrastructure has been boosting sales of lighting systems in Saudi Arabia further,” he added.

Frequent changes in raw material prices will inhibit the market’s growth to an extent. The unforeseen economic recession related to the unpredictability of oil-prices is also likely to create bottlenecks for the market. Nevertheless, with companies focusing to expand their businesses through mergers and acquisitions, the electrical market in Saudi Arabia witnesses lucrative opportunities in the near future. Grid modernization and the increasing opportunities in the solar energy industry are also expected to accelerate demand for electrical products in Saudi Arabia.

By application type, the electrical market in Saudi Arabia is witnessing rising demand for LED lighting. Furthermore, demand from the tunnel lighting segment is expected to increase in the forthcoming years. Demand for energy-efficient lighting solutions is expected boost sales of lighting products and systems from both the aforementioned segments.

In terms of product type, the demand for lighting control systems is expected to surge at the fastest CAGR of 14.3% between 2015 and 2023. The growing infrastructural development in Saudi Arabia, coupled with the rising demand for energy-efficient lighting solutions, is expected to considerably drive demand for lighting control systems. Low voltage lighting systems will continue to perform well in Saudi Arabia through the forecast period.

As per Transparency Market Research, the Saudi Arabia electrical market, which stood at US$4.5 bn in 2014, is expected to reach US$10.8 bn by the end of 2023. The market is poised to rise at a CAGR of 10.4% between 2015 and 2023.

This 165 page report gives readers a comprehensive overview of the Electrical Market -Saudi Arabia Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 -2023.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email:
sales@transparencymarketresearch.com