Smart Homes Market – Worth USD 47.5 Billion By 2020, Energy Management Will Be The Fastest Growing Application

Smart homes are store to various appliances and devices like air conditioners, lights, camera systems, entertainment systems, etc. These devices are controlled from a remote location using smartphones or computers. Smart homes offer convenience and mobility to residents, especially the elderly. They also help in the better utilization of energy. Unnecessary power consumption due to mistakes like keeping the lights or air conditioning on after leaving the house is avoided.

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Occupancy sensors automatically turn the lights on and off by sensing motion in a room. They thus help reduce light expenses. The development of smart grids, rising disposable incomes and growing consumer electronics industry are some of the factors expected to fuel the smart homes market. However, shortage of skilled manpower, high investment costs and lack of consistency may act as inhibitors.

Grand View Research observes five main smart homes market applications. These are energy management, lighting, entertainment, security, and HVAC – heating, ventilation and air conditioning. It also notes that security applications captured more than 20% of the market share in 2013. This is attributed to the accelerating demand for burglar alarms, safety cameras and window sensor alarms for security purposes.

Entertainment is another important application. Consumers can, at their convenience, manage varied videos and audio devices remotely. Energy management is estimated to grow the fastest from 2014 to 2020. Automated homes cause energy conservation. Regulatory authorities in North America and Europe are encouraging the growth of these homes. Various initiatives have been taken by these regions in this direction.

Grand View Research also notices that North America was the leading smart homes market in 2013. The region accounted for approximately 40% of the global share that year. It is also foreseen to retain its dominance in the future. This is as a result of the large manufacturing base and high smart homes market demand in the region. The economic revival in Europe would have a positive impact on its market.

Rising demand for smart homes from China and India will augment the Asian Pacific market further. Grand View Research identifies Siemens AG, Creston Electronics Inc.,   Honeywell International Inc., Tyco International Ltd. and ABB Ltd. as the dominating smart homes market participants. Some other prominent players include Control4 Corporation, Schneider Electric SA, Legrand SA, Lutron Electronics Inc., Emerson Electric Corporation, Ingersoll-Rand Plc., and AMX.

Smart Homes

Information Source: Grand View Research




Asia Pacific – Expected To Be The Fastest Growing Intelligent Virtual Assistant Market From 2015 to 2022

According to Grand View Research, the intelligent virtual assistant market generated over USD 500 million in 2014. It is likely to grow at a CAGR of 30% from 2015 to 2022. In order to provide automotive assistance to consumers, intelligent virtual assistants (IVAs) make use of artificial intelligence. The two key technologies used in the intelligent virtual assistant market are speech recognition and text-to-speech.

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At present, speech recognition is the most popular technology. It offers the features of interactive and intuitive communication. These features work well for the speech recognition segment and propel it further. For enhancing user-experience, intelligent virtual assistants offer client services at low prices. The high capability of IVAs to examine conversations between agents and users works in support of the market.

Instead of traditional navigational channels, consumers find IVAs more convenient. In 2012, several large companies contributed more than 80% share in the worldwide intelligent virtual assistant market. This was owing to improved data collection and speedy responses in these companies. Government, travel, media, finance, retail, etc. are some of the applications across which IVAs find use.

Escalating demand for IVAs across these applications would drive the demand for the market. Based on regions, the intelligent virtual assistant market is segmented into Asia Pacific, Latin America, Europe, North America and the Middle East and Africa. North America, in terms of adoption, was the largest contributor in 2014. It accounted for over 39% share in the global market. Asia Pacific is likely to be the most rapidly growing region from 2015 to 2022.

Proliferation of mobile devices and increase in technological investments in Asia Pacific would lead the region to experiencing rapid growth in the upcoming years. The major companies of the intelligent virtual assistant market are Creative Virtual Ltd., IntelliResponse, Next IT Corporation, Nuance Communications and Anboto Group.

Creative Virtual Ltd. has developed V-Portal, the latter being a knowledge management platform of the former. This platform provides access to live chat, social media and mobile channel facilities. ‘Next IT’ is yet another multi-language natural language processing platform. The other leading participants such as eGrain Communications, Artificial Solutions and CodeBaby Corp. provide continued availability, automatic language detection, accuracy, natural language understanding, etc.

Intelligent Virtual Assistant Market

Information Source: Grand View Research

Omega-3 Market – Expected to Attain Over USD 7 billion by 2020

The omega-3 market is expected to be worth over USD 7 billion by 2020, according to a study conducted by Grandview Research, Inc.. Omega-3 fatty acids are nutrients that cannot be broken down by the body but are essential for good health. They contain eicosapentaeonic acid (EPA), α-linolenic acid (ALA), docosahexaenoic acid (DHA), and arachidonic acid (AA).

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Omega-3 fatty acids are commonly found in fish, fish oil, flax seeds, and chia seeds. One of their benefits includes lowering down the levels of LDL or bad cholesterol, which in turn reduces the risk of high blood pressure or coronary disorders. The demand for omega-3 was 21.9 kilo tons (KT) in 2012. It is estimated to increase to 60 kilo tons by 2020.

The demand is likely to rise at a CAGR of over 13% by 2020. Food supplements command a lion’s share (55%) in the omega-3 market. They are followed by pharmaceutical products and infant formulas, together consuming 33% share. The rest of the market is occupied by food and beverages.

Food supplements consumed more than 12 KT in 2012. They are expected to rise exponentially by 2020. Infant formula is the fastest growing segment with an estimated CAGR of over 15% by 2020. About 87% of the infant formula sold in 2011 consisted of AA and DHA. Companies like Nestle and Similac have capitalized on this and sold many products owing to the benefits of Omega-3.

Additionally, the Food & Drug Administration (FDA) and the American Dietetic Association (ADA) have approved the use of omega-3 food supplements. These supplements reduce the risk of coronary diseases and maintain healthy triglycerides levels. Grandview Research found that Europe and North America dominate the omega-3 market with over 60% share in 2012.

These regions will continue to expand due to regulations favoring omega-3 ingredients in infant formulas. The Asian Pacific omega-3 market is likely to grow the fastest, due to high birth rates in China and India. A healthy diet comprising omega-3 and fish oils in Southeast Asia is expected to boost the sales of Asia Pacific.

DSM is one of the largest players in the omega-3 market. It is followed by Omega Protein, BASF, Croda International, GC Reiber Oils and Martek Biosciences Corporation. Aker Biomarine, BioProcess Algae, Orkla Health, EPAX, and Lonza are some of the other important market players.

Omega-3 Market

Information Source: Grand View Research


HIV Diagnostics Market


The HIV diagnostics market comprises diagnostic tests and products for the detection of HIV in humans. It accounted for over USD 2, 170 million in 2014. The market is likely to grow at a CAGR of 9.3 percent in the next few years. This growth is credited to advancements in HIV diagnostic tests, multiple HIV cases around the globe and boosting novel treatments for HIV and AIDS.

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All the primary regional HIV diagnostics market sectors would experience augmented demand in the forthcoming years. These sectors will develop on account of the rising necessity for fast, easily accessible and effective HIV tests. The worldwide market is going to witness upward trends over the forecast period of 2014 to 2020.

The growing ‘high risk’ population indulging in promiscuous behaviors, sex with multiple partners and unprotected sex is also projected to raise the demand for HIV diagnostic tests. This would accelerate the sales of the market. Apart from this, rising drug users sharing hypodermic syringes would drive the demand for HIV tests, thus boosting the income of the market.

Market Segmentation 

Products Insights

The HIV diagnostics market consists of confirmatory tests and diagnostic screening for HIV-1 and HIV- 2. It also includes group O incidence testing. At a wider level, HIV diagnostic products and tests are segmented into viral identification assays, early infant diagnostics (EID), CD4 testing and viral load testing.

EID is conducted independently from CD4 and viral load testing. The molecular test for DNA PCR is used for detecting HIV in infants. In 2014, the largest share in the HIV diagnostics market was occupied by antibody tests. These tests are likely to lead the market due to their high usage rates, accuracy and sensitivity.

Antibody tests are divided into Group O tests, HIV-1 screening, and 1 confirmatory and 2. Western Blot, 3rd and 4th generation ELISA tests, rapid agglutination for HIV-1 screening and indirect immunoflourescent antibody assay are some of these.

The other test sectors in the market encompass viral culture for viral identification, p24 antigen tests, CD4 testing and viral load testing.  These tests are needed during the monitoring and utilization of antiretroviral therapy once the infection is confirmed.

Regional Outlook

The leading HIV diagnostics market was North America. The region contributed maximum revenue to the global market. This was due to the existence of advanced healthcare structures, higher medical expenditures and supportive reimbursement policies in the region. Quick and convenient HIV diagnostic tests would also steer further demand for this regional market over the coming years.

Market Participants

The leading participants in the HIV diagnostics market are PointCare Technologies, Qiagen, Janssen Therapeutics, Merck& Co.Inc and Siemens Healthcare. Some others are Mylan Inc, BD Biosciences, Gilead Sciences, Alere Inc., Zyomyx, bioMerieux and Roche Diagnostics.

These players are mostly doing clinical research and development for p24 and viral load testing methodologies. They are planning to increase accessibility to HIV tests and reduce complications. Growing spendings in HIV diagnostics by these players are also assisting in the further growth of the market.

HIV Diagnostics Market

Information Source: Grand View Research


Palm Oil Market Analysis By Derivative (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake), By Application (Edible Oil, Cosmetics, Bio-diesel, Lubricants, Surfactants) And Segment Forecasts To 2022

Industrial Overview

Palm oil is an edible vegetable oil derived from palm fruits. With rapid increase in the per capita human consumption of vegetable oils, the demand for palm oil has increased in recent years. Palm oil is mainly used in food products, detergents, cosmetics, and biofuels. Boosting demand for this oil in all these products is estimated to heighten the sales of the market.

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In 2014, the worldwide palm oil market was valued at around USD 61,000 million. It is projected to experience significant growth in the next few years. The demand for the market has also grown due to the cost effectiveness coupled with low-fat content of palm oil. However, widespread deforestation for the production of palm oil has resulted in the extinction of several animals.

This has also led to climatic changes. All this has indirectly affected the market. The rapidly growing demand for palm oil from end-use industries is likely to remain the key driving factor of the market. Few agencies and governments have taken initiatives to restrain the consumption of trans-fat in the last few years. This has taken place considering health concerns.

The regulations concerning the blending of fuels with bio-based ones and growing usage of palm oil as bio-diesel have gained acceptance in the last few years. Environmental concerns regarding lubricants, surfactants and bio-based cosmetics and shifting customer preferences have also prompted the sales of the palm oil market.

Market Segmentation


In 2014, crude palm oil led the worldwide market. It was followed by kernel oil and cake. Palm kernel cakes are primarily utilized in the industry of animal feed. Rising demand for animal feed in Asia Pacific and North America is expected to assist the demand for palm kernel cakes. Accentuating demand for the cosmetics industry is also estimated to be beneficial for the palm oil market.


The global market was dominated by edible oil. It was followed by surfactants, lubricants and bio-diesel. Health apprehensions with respect to the consumption of trans-fat have shifted the preferences of consumers to low trans-fat from vegetable oils and animal fats consisting of high-trans fat.


In 2014, the palm oil market was dominated by Asia Pacific. The Middle East, Asia Pacific and Africa would experience rapid growth in the manufacturing and food sectors. Indonesia and Malaysia presently lead the worldwide production of palm oil. 

They are the prime exporters of palm oil and envelop a vast chunk of businesses.

Due to the existence of favorable climatic conditions and arable land, the regions of Africa, and Central and South America are estimated to undergo fast develoment coupled with increasing production capacities.

Key Market Participants

The players of the palm oil market are taking steps to gain a robust foothold on the worldwide market. They are also aiming at augmenting their product line. Few of the leading participants are Alami Group, IOI Corp., Sime Darby, Godrej Agrovet Limited, Kulim Bhd and PT Astra Agro Lestari Tbk. The rest are Golden Agri Resources Ltd., Wilmar International Ltd, Musim MAs Group and London Sumatra.

Palm Oil Market

Information Source: Grand View Research


Seed Treatment Market Analysis By Treatment Type (Insecticides, Fungicides, Chemical, Non-Chemical), By Crop (Corn, Soybean, Wheat, Canola, Cotton) And Segment Forecasts To 2020

The seed treatment market was valued at about USD 161.4 million in 2012. It is expected to expand at around 10% CAGR by 2020. The market would achieve about USD 300 billion by 2020. Seed enhancement has emerged from the treatment of chemical seeds. It is a large segment of the market.

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The seed treatment market is analyzed in view of production, seed development and pest elimination. The crops in the market include canola, cotton, corn, sunflower, rice, wheat, soybean, oil seed crops, fruits and vegetables. Seed treatment, being the fastest growing market in the agricultural industry, has pushed various multi-national establishments to invest in research.

These establishments are working towards improving crop yield and destroying pests. They are Nufarm Ltd. (Australia), BASF SE (Germany), Syngenta AG (Switzerland), Platform Specialty Products Ltd.(U.S.) and Sumitomo Chemical Co. (Japan). The increasing costs of applications in farm level seeds conventional agrochemicals have assisted the seed treatment market in becoming popular.

This has led to the development of high quality products, rising crop rotation rates and augmented awareness about high-end agro benefit products. The yield of crops can be improved by using chemical, biological and physical technologies. Chemical technology is the most widely utilized technology and accounts for more than 50% of the share.

The seed treatment market has been segmented into four categories. These are functions, technologies, crops and regions. The functions sector consists of crop protection chemicals and seed enhancement. Technologies includes chemical, biological and physical as discussed above.

The various crops of the market have also been mentioned above. This sector was led by corn in 2014. Corn was followed by soybean and wheat. The regions sector is fragmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). The biggest share in the worldwide market was captured by North America.

India and China account for about 7 percent of the global share. These nations also steer the Asian Pacific market ahead. Boosting demand for crop quality and productivity has led to the advent of modern seed treatment products.

Seed Treatment Market

Information Source: Grand View Research



Excipients Market – To Witness Healthy Growth, Asia-Pacific Will Be A Lucrative Region By 2020

Excipients are inactive components in finished pharmaceutical products. They may include flowing agents, fillers, glues, binders, etc. Excipients are added during the formulation of drugs.  A recent study by Grand View Research, Inc. predicts that the worldwide excipients market will grow steadily at a CAGR of 5.8% from 2014 to 2020.

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By 2020, the market is likely to fetch revenues worth USD 5,200 million. This growth will be brought about by rising demand for pharmaceuticals across the globe. Burgeoning geriatric population coupled with rising diseases is driving the pharmaceutical industry. This is also likely to positively impact the excipients market.

Strict regulations related to the safety of pharmaceutical components are another favorable factor for the market. Product innovations are lending a distinctive edge to branded drugs over   cheaper, generic ones. The commercial adoption of these innovations is fuelling the growth of the excipients market. Additionally, a large untapped consumer base and low-cost manufacturing in China, India and Brazil are adding sales to the market.

Grand View Research segregates excipients into five products. These are minerals, alcohol, polymers, gelatin, and sugars & others. Polymers, with a revenue share of 38%, were the leading product sector in 2013. This was chiefly due to their widespread use in drug and cosmetic sciences. Alcohol, with estimated market volumes of more than 130,000 tons, bagged the second place in 2013.

It is widely used as a solvent and preservative in drugs. Europe was observed to be the leader in 2013. A huge elderly populace coupled with sophisticated healthcare infrastructure, especially in Western Europe, was a key reason for its leadership. A strong pharmaceutical base has had a positive effect on the North American excipients market. This region was the second-largest contributor in the global market in 2013.

Asia Pacific is anticipated to witness robust growth in the future. It would happen at a CAGR of around 6 percent. Rising chronic illnesses in Asia Pacific would create greater demand for excipients in the years ahead. Many excipient companies prefer outsourcing their operations to Asia Pacific to benefit from low manufacturing costs. JM. Huber Corporation, Evonik Industries, FMC Corporation, Ashland Inc., Eastman Chemical Company and Avantor Performance Materials Inc. are the leading players in the global excipients market. Danisco A/S, BASF SE, Lubrizol Corporation, Colorcon Inc., and Roquette Pharma are the other vital participants.

Excipients Market

Information Source: Grand View Research


Diabetic Retinopathy Market Analysis By Type (Proliferative DR, Non-Proliferative DR), By Management (Anti-VEGF Therapy, Intraocular Steroid Injection, Laser Surgery, Vitrectomy) And Segment Forecasts To 2022

Industrial Overview

Diabetic retinopathy (DR) is a disorder of the eye that damages the blood vessels of retina. It is a common diabetic complication affecting the eyes. Retina is a light sensitive thin layer at the inner surface of the eye. Images are formed in the retina. People suffering diabetes from the past many years are at a higher risk of developing diabetic retinopathy.

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This condition is primarily caused by high blood glucose levels causing changes in the blood vessels of eyes. The treatment for retinopathy depends on the stage of the disease and is directed towards stopping the progression of the same. Vitrectomy, laser surgery and corticosteroids injections are the common treatments available.

The screening of the retina and selection of treatment line depending on the severity of the condition go a long way in ensuring that proper treatment is delivered. The growing global geriatric population is projected to improve the sales of the market. This population is more susceptible to contracting diabetic retinopathy and hence drives the market.

In 2014, the diabetic retinopathy market was valued at more than USD 5,000 million. It is likely to grow at a CAGR of over 6 percent in the next few years. The growing incidences of diabetic blindness would also propel the growth of the market in the next few years.

Market Segmentation


The various types in the diabetic retinopathy market comprise proliferative and non proliferative. The sector of proliferative diabetic retinopathy is likely to expand in the coming years. In 2014, non- proliferative held the largest share. This was due to several patients in the range of ‘less than 10 years of illness history.’

Increasing diabetes cases, non-compliant retinal screening and lack of precise diagnosis are steering the growth of the non-proliferative diabetic retinopathy sector. The boosting utilization of drugs to treat moderate proliferation with fewer complications has accounted for the high revenue of this sector.


Different treatments in the diabetic retinopathy market include vitrectomy, anti- VEGF treatment, laser surgery and intraocular steroid injection. The anti-VEGF treatment sector is likely to capture the highest share in the next few years. This is due to the faster recovery and better treatment options offered by this sector.


In 2014, the North American diabetic retinopathy market held the largest share. This was due to supportive reimbursement services, accelerated demand for early detection of diabetic retinopathy and rising diabetes incidences in the region. The developing nations of Asia Pacific such as India and China are likely to witness substantial growth over the forecast period.

This is owing to diagnostic innovations, amplified geriatric population, burgeoning research fundings and rising disposable incomes. The increasing market penetration of products such as anti-VEGF drugs involving Eylea, Lucentis and Avastion is a key factor adding revenue to the global market.

Market Participants

The key players in the diabetic retinopathy market are Alimera Sciences, Actavis Plc, Bayer Healthcare, Novartis AG, BCN Peptitides and Thrombogenics. The remaining ones include Kowa Group, Sirnaomics, Regeneron Pharmaceuticals Inc, Almira Sciences and Amoio Pharmaceuticals.

Due to large number of participants, the diabetic retinopathy market is highly consolidated and competitive. Leading participants are adopting various business strategies to ensure new product developments.

Diabetic Retinopathy Market

Information Source: Grand View Research

Construction Equipments Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

A recent study by Grand View Research, Inc. revealed that the worldwide construction equipments market was worth USD 138 billion in 2012. It is estimated to grow at a CAGR of 5% from 2014 to 2020.
Construction equipments are increasingly being used in areas other than agriculture. Modern construction equipments are technologically advanced. They, therefore, attract demand from diverse industries like railways and military. Accelerated infrastructural development in several parts of the world is the foremost reason for the sound growth of the construction equipments market.
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Apart from this, expansion in the mining industry will also create greater demand for heavy equipments like earth movers, drills, bulldozers, etc. Furthermore, Grand View Research also notes that earth moving equipments accounted for more than 40% of the total market in 2013. This sector includes excavators, loaders and other equipments for making structures and digging trenches.

Growth Drivers

Earth moving equipments would dominate the overall market in the coming years. Material handling equipments, with a CAGR of 5.5%, are likely to witness the fastest growth till 2020. This can be attributed to the rising automation and application industries. Concrete equipments are of great importance in the construction of power plants, bridges, residential and commercial establishments, etc.


They would profit from highway construction projects expected to commence in the near future. Grand View Research divides the construction equipments market into four geographical regions – North America, Asia Pacific, Europe and Rest of the World (ROW). ROW, with a CAGR of 6%, is predicted to be the fastest growing region by 2020.
High number of construction projects in Brazil will contribute to its growth. Asia Pacific contributed more than 49% of the total revenue in 2013. It is expected to be the largest construction equipments market in the forthcoming years. Multiple infrastructural projects coupled with increasing mechanization in the construction industry will positively affect this region.

Market Segmentation

China, in particular, will be an important source of revenue for the Asian Pacific market. Grand View Research identifies John Deere, Caterpillar Inc., Volvo Construction Equipment AB, Doosan Corporation, Komatsu Ltd., JCB Ltd., and Hitachi Construction Machinery Co., Ltd. as the chief participants in the construction equipments market.
Mergers and acquisitions are the essential strategies for achieving penetration. Many manufacturers invest in the research and development of better and diverse products. Compliance with regulatory norms pertaining to emission control and workplace safety is a key industry consideration.
Players of the worldwide market also face challenges in the forms of high capital and maintenance costs, and economic upheavals in emerging countries.

Portable X-Ray And CT Scan Devices To Witness Growth Owing To Rising Number Of Geriatrics And Target Diseases, 2015 To 2022

According to a new study by Grand View Research, the global market for portable X-ray and CT scan devices will be driven by growing cases of accidents and health conditions necessitating orthopedic, cardiovascular or brain-related investigation. New product developments in portable medical devices market are being facilitated by technological advancements like wireless devices and capital deployment in healthcare. Additionally, growing preference for diagnostic techniques that are minimally invasive and can be brought to the patients’ doorstep is proving beneficial to growth. The elderly are prone to falls and suffer from orthopedic issues. Growing worldwide aging population is leading to a rise in implant procedures. This makes portable screening devices important.

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Grand View Research observes that North America generated the most regional demand for portable X-ray and CT scan devices. Its dominance is likely to continue owing to surge in aging populace and technological superiority. Emerging economies in Asia and Latin America will augment future demand for portable X-ray and CT scan devices. These developing markets are characterized by a growth in technologically advanced and affordable products.

X-ray devices accounted for a larger market share as compared to CT scan devices. For the period from 2015 to 2020, demand for X-ray devices is likely to fall while that of CT scan devices will witness substantial growth.

Grandview Research found that on the basis of technology, medium slice scanners, with benefits like cost effectiveness and high performance, led the CT scan market segment. In X-ray devices segment, computed radiography was the preferred technology due to its affordability and user friendliness. In the near future, digital radiography-based portable X-ray machines are foreseen to witness highest growth. They offer features like fastest image acquisition rate, high throughput rate, low radiation and high quality imaging. Key operators in the global portable X-ray and CT scan devices market are GE Healthcare, Philips Healthcare, Hitachi Medical System, Varian Medical System, Siemens Healthcare, etc. Philips Healthcare assumed the leadership position in terms of market share in 2012.

Portable X-Ray And CT Scan Devices Market

Information Source: Grand View Research