Digital asset management (DAM) is a business process to distribute content-rich media across various platforms. It helps companies to advertise their own content in order to attract consumers. It plays a big role in improving the company’s brand. A DAM system is a centralized location to store all content-related files. It has several layers of encryption in order to secure its data. All such factors of DAM which can aid in sales may drive demand of the digital asset management market.
A DAM system saves times in searching and sending digital assets within the organization. This will allow the employees to focus on enriching tasks and boost work efficiency in the process. Software-as-a-Service (SaaS) and on-premise are two major DAM systems. Out of which, SaaS is a great option for small and medium enterprises to manage their resources effectively. Many business verticals are opting for SaaS due to its huge storage and disaster recovery solutions.
OpenText Corporation, a Canadian company, specializing in enterprise management solutions has released its latest update for its Enterprise Information Management (EIM) platform. The update allows users to operate on either Cloud or on-premise platforms. Its feature “OpenText Discovery Suite” allows its users to scan for advanced analytics and customer metrics to better strategize their marketing ploy. Even Westpac Banking, an Australian banking corporation uses data analytics provided by such a DAM system to analyze customer transactions. This would allow it to understand consumer behavior and deploy right tactics to retain it.
The worldwide digital asset management market is anticipated to gain over USD 5.6 billion in revenues by 2025, according to Grand View Research, Inc. It is driven by the use of DAM by companies to promote their own brand using rich media. Cloud vendors which provide cost-effective solutions in digital asset management will play a huge role in market demand.
Cloud segment can acquire significant market share from on-premise segment over the forecast period (2014-2025) on account of SaaS. Small and medium enterprises (SMEs) may grow at a CAGR above 10% from 2016 to 2024. Asia Pacific is expected to grow at a robust rate on account of high Cloud adoption by SMEs regionally. Some major market players are OpenText Corporation, Adobe Systems Incorporated, and Oracle Corporation.
Globally increasing electricity demand coupled with rising application in renewable energy is anticipated to drive cogeneration equipment market over the next seven years. The market is expected to grow at an estimated CAGR of 9% over the next seven years. Rising energy prices is expected to remain a key driving factor for market growth.
Cogeneration or combined heat and power (CHP) systems are used to simultaneously generate both electricity and heat energy from a single fuel source such as natural gas, biomass, wood, coal, waste heat, or oil. CHP systems can operate at levels as high as 77% to 81% as compared to around 46% efficiency of conventional systems and they can reduce carbon emissions by up to 29% as compared to conventional systems.
Increasing renewable energy projects in developing regions of Asia Pacific and Latin America is expected to fuel demand over the forecast period. Natural gas is the most widely used fuel in combined heat and power (CHP) systems. It is available in abundant quantity, particularly in Russia, the U.S., Canada, Iran and Qatar. Decreasing price and abundant availability of natural gas, supportive government policies along with aging infrastructure are expected to drive CHP equipment demand in the near future.
CHP is commonly used across a wide variety of applications including residential buildings, oil & gas production facilities, small and large scale industries, and commercial applications such as hospitals, universities and shopping complexes. Cogeneration systems have applications in both the industrial and commercial sector, and even in smaller residential applications. The heat generated from cogeneration plants is used in a wide range of applications including industrial processes and space and water heating
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CHP equipments include gas turbines, steam turbines, electric generators, heat recovery steam generators (HRSG), boilers and reciprocating engines. These systems are segmented on the basis of micro or small-scale and large-scale systems depending on the requirement of the customers.
Increasing application scope of CHP systems in end-use industries such as paper, food, chemical, oil and refining industry owing growing electricity demand is anticipated to compliment equipment demand over the forecast period. It is gaining wide popularity owing to benefits such as low operational cost by replacing higher priced electricity and boiler fuels with low cost power and heat energy.
High initial investment requirement along with difficulty in proper utility connection are some of the major restraints for this market. In the long term, these systems are beneficial but due to their complex technological requirements, its initial cost is very high as compared to conventional systems and many small and medium sized organizations and institutions find it difficult to afford them.
Europe is expected to exhibit highest growth rate over the forecast period owing to wide natural gas availability in countries such as Germany and Russia. Cost and space restraints in major cities along with stringent environmental regulations are anticipated to drive demand in the region over the next seven years.
Asia Pacific is expected to witness significant growth over the forecast period owing to increasing CHP systems demand from industrial sector in countries such as China, India and South Korea. Growing power sector in India to meet rapidly rising energy demand is expected to drive demand in the Asia Pacific region.
North America is expected to witness surge in demand owing to factors such as strict environment norms regarding electricity consumption coupled with shift towards renewable energy. Middle East and Africa are expected to grow at a moderate growth rate over the forecast period.
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The global POS terminals market is expected to reach USD 113.27 billion by 2024, according to a new report by Grand View Research, Inc. The introduction of chip-embedded payment cards and personal identification number (PIN) has minimized security concerns relating to sensitive data theft, which is projected to drive the POS industry over the forecast period.
These terminals have a range of applications including inventory management, printing bills, payments, and carrying out loyalty programs, thus leading to their increasing adoption across various end-use verticals. They offer efficient flow control coupled with customer satisfaction, which is expected to favorably impact the consumption.
The ubiquitous wireless connectivity, including Bluetooth, combined with the availability of peripheral devices, card readers, scanners, mobile printers, and multiple platform support, is projected to drive demand over the forecast period.
The widespread affordability and availability of smartphones and tablets have witnessed a considerable increase over the past few years. It is estimated that across the globe, the number of smartphone and tablet users would reach over 6 billion and 1.40 billion respectively by 2020, thus driving demand for the POS products.
The industry is steadily migrating toward the digital format with electronic signature capture and e-mail receipts, enabling paper-free transactions and consequently, offering lucrative growth opportunities by 2024. However, the migration of the global payment industry toward more secure chip card technology can hamper the demand.
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Further key findings from the report suggest:
- In 2015, the fixed POS terminal accounted for over 70% of the revenue share. However, the low-cost availability of mPOS terminals has made them a feasible payment acceptance solution for the business owners. In the U.S., restaurants outlets are increasingly embracing tablets (iPad or non-iPad based POS) as a preferred mode of conducting transactions.
- The mobile point-of-sales industry is expected to reach over USD 55 billion by 2024. These products are primarily used for better user experience and mobility, making use of technologies such as GPRS, 802.11, CDMA, and Wi-Fi for communication.
- The hardware segment accounted for a share of over 89% and had further been projected to remain the largest revenue contributor to the POS terminals industry. The software segment, on the other hand, is expected to witness a significant demand by 2024.The growing need for customized systems, facilitated with the help of the POS software, is expected to be the key growth opportunity for companies operating inthe industry.
- The healthcare sector is estimated to offer prominent growth opportunities, growing at a CAGR of nearly14.0% from 2016 to 2024. The growing need to streamline payment practices is determined to drive demand across this sector.
- The retail sector is projected to reach over USD 30.5 billion by 2024. The ability of mobile POS for collecting customer data and storing it in a CRM, as well as up-selling and cross-selling along with payment processing, are some of the key factors driving demand for the mPOS terminals across the retail sector.
- The Asia Pacific POS terminals market is projected to grow at a CAGR of 13.6% from 2016 to 2024. China’s banking industry is accelerating the migration of EMV from magnetic stripe cards to IC cards, thus driving demand across this region. Over 40% of India’s mobile users use smartphones for online banking and financial activities, offering prominent growth opportunities.
- Notable companies operating in the POS terminals market include Toshiba Corporation, Panasonic Corporation, Samsung Electronics Co Ltd., Verifone Systems, Ingenico S.A, and PAX Technology. The industry is characterized by the extensive R&D investment in order to obtain a competitive advantage, which is expected to result in frequent acquisitions and strategic alliances.
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The global Auto Catalyst Market is expected to reach USD 15.80billion by 2024, according to a new report by Grand View Research, Inc. Implementation of stringent regulations pertaining to emission control limits is expected to remain a key driving factor for global Auto Catalyst Market over the forecast period.
The growth in the automotive ancillary market on account of increasing average life of vehicles the on road is expected to drive the demand for auto catalysts. Demand for diesel vehicles is expected to have a positive impact on the market growth over the forecast period. Volatile prices of precious group metal (PGM) is expected to remain a key driving factor for global Auto Catalyst Market over the next eight years.
U.S. Auto Catalyst Market revenue by application, 2014 – 2024, (USD Million)
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Further key findings from the report suggest:
- Global Auto Catalyst Market demand was 109.77 million units in 2015, and is expected to exceed 150 million units by 2024, growing at a CAGR of 3.8%from 2016 to 2024
- Light duty vehicles-gasoline emerged as the leading application segment and accounted for 71.5% of total units in 2015. Growing demand for gasoline powered light-duty passenger cars across the world is expected to remain a key driving factor for this segment over the forecast period.
- Asia Pacific was the leading regional market with demand share exceeding 50% in 2015. However, in terms of revenue, Europe led the global auto catalysts industry on account of relatively lower prices in Asia Pacific. Adoption of stringent emission control regulations such as Euro VI coupled with the growing demand for diesel powered vehicles is expected to drive the regional market growth over the forecast period.
- Asia Pacific is expected to witness the highest growth of 3.9% over the forecast period on account of emission control regulations implemented in China, Japan, and India, which are in line with the Euro VI regulations. In addition, increasing automobile production on account of growing demand for passenger and commercial vehicles particularly in India, China, Indonesia, and Thailand is also expected to have a positive influence on the market growth.
- Some leading companies operating in the global Auto Catalyst Market include Johnson Matthey PLC,BASF SE, Umicore SA, Corning Incorporated, Heraeus Holding GmbH, Faurecia SA, Bosal International N.V., Cummins Emission Solutions, Inc., IBIDEN Co., Ltd., Solvay SA, and Cataler Corporation.
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The global cryogenic equipment market is expected to reach USD 25.05 billion by 2022, according to a new report by Grand View Research, Inc. Stringent government initiatives and investments in emerging markets such as Brazil and India are expected to impel the product demand over the forecast period. Shale gas exploration has resulted in high natural gas production, thereby escalating demand in the oil & gas sector. Cryogenic equipment is widely used in LNG storage and transportation. LNG being an extremely low emission fuel is preferred by several regulatory bodies addressing environmental concerns, thereby driving the cryogenic equipment demand.
Rapid industrialization has led to widespread adoption of this equipment in the metallurgy industry. Development in metal design has resulted in the development of enhanced techniques for handling liquids and is expected to fuel market demand over the forecast period.
Asia Pacific cryogenic equipment market by end-use, 2012 – 2022 (USD Million)
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Further key findings from the report suggest:
- Tanks accounted for over 55% of the overall revenue in 2014. The need to store gases for several critical industrial processes as against conventional cooling lubricants (CLFs) is anticipated to drive the product demand over forecast period.
- Storage segment contributed over 65% of the overall revenue and is projected to display substantial growth with a CAGR exceeding 8% from 2015 to 2022. It provides a consistent and accurate temperature for storage and is expected to play a vital role in driving demand.
- Growth in the power & energy segment can be primarily attributed to rapid industrialization and several government initiatives. The segment accounted for over 20% of the revenue in 2014.
- Asia Pacific emerged as a dominant region with market size over USD 4.0 billion in 2014. The quest for Liquefied Natural Gas (LNG) in Asia Pacific is expected to drive growth over the forecast period, making it the highest revenue generating region.
- North America cryogenic equipment market is anticipated to experience significant growth over the forecast period. The North American food & beverage industry has witnessed a substantial growth over the last few years; a trend anticipated to provide an impetus for future market growth.
- Key market participants include Cryo pure, Packo Industry, Cryofab, Shell-N-Tube, Cryodepot, and Taylor-Wharton International LLC. Industry participants strive to focus on innovation and technical knowledge while simultaneously trying to own several patents and trademarks along with R&D activities. Purveyors abide by regulations such as DOE 6430.1A, DOE 5481.1B, DOE 5700.6C, CGA Pamphlet P-1, CGA Pamphlet S-1.1, ASME, and ASME B31.3 to manufacture safe and functional equipment.
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Internet of Things (IoT) market is estimated to grow at 15.2 % to reach over USD 1.88 trillion by 2022
The Internet of Things (IoT) market was worth USD 605.69 billion in 2014 owing to rising requirement for internet connectivity worldwide coupled with technological advancements. The emergence of start-ups in different industries to satisfy growing need of consumers is anticipated to result in increasing venture capital investments. The market is estimated to grow at 15.2 % to reach over USD 1.88 trillion by 2022.
IoT market is projected to increase at a significant pace on account of its ability to improve efficiency and enable new services. IoT connects devices including industrial equipment and consumer electronics through a network that allows users to gather information and manage devices via software. Key factors that are expected to propel future growth include improving connectivity and internet access, data processing requirements and decreasing costs of internet enabled sensors. In addition, the market is likely to witness significant growth opportunities over the forecast period owing to increase in demand for gadgets such as wearable devices and futuristic elements including connected homes, vehicles, and cities coupled together with industrial internet of things (IIoT)
The absence of universally accepted standards that give rise to security and privacy issues are expected to hamper growth in the industry. Moreover, the introduction of stringent rules and regulation in the U.S and Europe to tighten data security and privacy for internet users are anticipated to restrict further market growth.
The global IoT market was dominated by device segment comprising of sensors and modules and contributed to over 30.0% of the overall market in 2014. The device segment is projected to witness significant growth opportunities through introduction of innovative IoT platforms as a substitute for competitor devices such as HomeKit by Apple Inc and Brillo by GoogeInc
A significant revenue share in the IoT market is anticipated to be occupied by the consumer electronics application segment followed by manufacturing and retail. The introduction of new concepts such as connected cars in the transportation sector is expected to propel demand for IoT over the forecast period. In 2014, about 25.0% of the overall industry was acquired by this segment.
Emerging economies such as Japan, India and China are expected to be the key drivers of IoT industry on account of manifestation of major component and technology manufacturers such as Huawei and Samsung coupled with the potential for the high-speed broadband internet. Asia Pacific is thereby projected to grow at a CAGR of approximately 16.0% over the next seven years.
IoT is a dynamic market majorly fuelled by new product developments and enhancements in technology. Organizations are focussing on investing in IoT divisions, innovation labs, and R&D to obtain the first-mover advantage to expand globally and mark their presence. Key companies include major telecom and technology giants such as Alcatel-Lucent, Accenture PLC, Google Inc., Apple Inc., General Electric, IBM, Freescale Semiconductors, SAP SE and Samsung Electronics.
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The global energy management systems (EMS) industry was valued at USD 20.49 billion in 2014. Technological advancements coupled with rising commercialization of innovative products are expected to fuel the market growth. Increasing requirements for reliable and consistent information technology (IT) platforms to monitor, control and optimize available energy sources are projected to boost the market growth. The market is anticipated to reach USD 58.59 billion by 2022. Energy management systems are IT-analytical tools used in different integrated platforms and carry out process optimization of individual components to achieve higher efficiency.
Industrial energy management systems (IEMS) captured over 60% of the overall revenue, dominating the market in 2014. Infrastructure development across the globe has accounted for the rising demand from the power & electricity industry. This factor, in turn, has increased the popularity of IEMS which enables fuel consumption optimization and operating cost reduction. IEMS is anticipated to grow at an estimated CAGR of over 13% from 2015 to 2022.
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BEMS captured over 30% of the global demand in 2014 and is predicted to grow at an estimated CAGR of over 15% from 2015 to 2022 owing to the rising popularity of these systems in IT establishments, hospitals, telecom, business parks and shopping complexes. HEMS is expected to witness significant gains over the next six years owing to the rising spending for construction of green buildings and smart homes to curtail carbon emissions.
Sensors were widely used accounting for over 35% of the EMS component segment. Sensors help in real-time tracking of energy requirement, thereby, improving the efficiency of the energy systems. The industry is likely to grow at a CAGR of 12.5% from 2015 to 2022.
Energy management software accounted for 27.1% of the overall revenue in 2014 and is expected to register growth at a CAGR of 15.6% from 2015 to 2022. They offer solutions to minimize costs and predicting energy requirements.
Power & energy sector dominated the application vertical contributing to over 40% of the market share in 2014. The trend is expected to generate a revenue of over USD 22.50 million by 2022 owing to its increased consumption from various industries including chemicals, oil & gas, power generation, distribution & transmission.
EMS implementation in the healthcare application segment is expected to grow at a CAGR of 15.5% over the forecast period. Growing geriatric population and rising health concerns are some of the factors contributing to the segment growth.
Increasing industrial development and the establishment of factories, business parks, warehouses and shopping malls are contributing to the swift growth of retail & offices application segment, growing at an estimated CAGR of 15% over the forecast period.
Commercial sector was the largest end-use segment accounting for over 95% of the overall revenue in 2014. This trend is anticipated to continue over the forecast period. Increased use in commercial buildings including office spaces, shopping malls, business or IT parks requiring high electricity and power supplies is expected to contribute to growth. However, this segment is supposed to lose its share to the residential sector over the forecast period owing to rising optimized energy requirements in smart homes, societies and residential buildings.
North America accounted for over 40% of the global revenue in 2014, dominating the EMS regional market, owing to the favorable government initiatives by the U.S. EPA, enabling organizations to align and assess the energy performance of their facilities and operations. Government efforts in Europe and the need to reduce power losses in the region have attributed to the EMS market growth, thus generating revenue of USD 6.09 billion in 2014.
Asia-Pacific is the fastest growing regional segment and is expected to witness growth at a CAGR of over 16% over the forecast period. This increase can be attributed to rapid industrialization and favorable initiatives started by governments of the emerging economies of the region.
Key players dominating the market are Honeywell, Elster Energy, Schneider Electric, GridPoint, Inc., General Electric, Johnson Controls and C3 Energy.
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