Styrene Butadiene Rubber (SBR) Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

Styrene Butadiene Rubber (SBR) is a general-purpose synthetic rubber, made from a copolymer of styrene and butadiene. SBR is composed of about 75% butadiene and 25% styrene. These components are copolymerized in an emulsion process to produce SBR. SBR is an outcome of synthetic rubber research undertaken in Europe and US due to natural rubber scarcity during World Wars I and II. SBR’s advantages include abrasion and crack resistance, and better aging characteristics as compared to natural rubber.

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Market Insights

Commercial SBR is of two types – Solution (S-SBR) or Emulsion (E-SBR). In S-SBR the process of polymerization is initiated by free radical whereas in E-SBR by an alkyl lithium compound. The global SBR market stood at more than 5,000 kilo tons in 2013 and is forecast to grow up to more than 7000 kilo tons by 2020. The key growth driver would be the considerable demand for S-SBR from the tire market. However, price volatility of raw materials especially butadiene will restrain growth.

Global SBR market can be segmented on the basis of product, application and geography as follows –

Product

Although E-SBR is being used at present, the future is bright for S-SBR which is more suitable for tires – the most significant application segment. The real game-changer for S-SBR has been the imposition of labeling regulations on tire manufacturers by various countries like Japan, India, China, Brazil, US and South Korea, as well as the EU. There is growing demand for ‘green tires’ that offer environmental sustainability, fuel efficiency and durability. Tire makers are now required to label tires for wet grip, fuel efficiency and external rolling noise. S-SBR is the only product that offers required levels of fuel efficiency and wet grip. The tire industry accounted for more than 80% of the total global demand for S-SBR in 2013. This is expected to grow further by 2020.

Application

Major application segments include tire, footwear, polymer modification, adhesives, construction, insulation and carpet overlay. Tire, with a market share of more than 70%, led the application segment in 2013. The growth in automobile industry in manufacturing centers like China, India and Brazil is leading to      rising global demand for tires and therefore SBR.

Footwear followed tires in application in 2013. Favorable properties of SBR such as better abrasion resistance lead to its inclusion in manufacturing high performance sports footwear. Sports footwear is likely to witness increased demand in future owing to rising income levels, especially in emerging economies. This will in turn propel growth of SBR. Niche application segments like polymer modification, adhesives and insulation are expected to witness average growth.

Geography

Asia Pacific region experienced a linear growth in the past few years, which is likely to continue in future. SBR market in this region accounted for more than 45% in 2013. The positive outlook is mainly due to strong growth potential of infrastructure in China and India. Low labor and other operating costs have led to several large tire businesses from North America and Europe to move their production bases to Asia Pacific countries. Furthermore, rising middle-class population, higher disposable incomes and steady economic growth in India, China, Malaysia, Thailand and Indonesia will propel market growth. Another important driver will be high emphasis of nations on environment-friendly and recyclable products such as ‘green tires’. India will soon follow China in implementing tire labeling regulations.

Europe followed Asia Pacific in consumption of SBR in 2013. Key automobile manufacturers in Germany and Italy will generate future demand. EU tire labeling regulations that were introduced in 2012 will drive demand, chiefly for S-SBR, in the immediate future.

Competitive Landscape

Key market players of the global SBR industry are Lanxess AG, Bridgestone Corporation, Michelin, CNPC, etc. The industry is characterized by forward integration with petrochemical businesses engaged in all stages of the value chain. The global SBR market is fragmented with top ten companies contributing to less than 70% of the total demand. Investments, expansions, technological research & development, and new product introductions are important industry activities. Tire companies such as Michelin and Bridgestone Corporation are leading players in the global S-SBR market.

Styrene Butadiene Rubber (SBR) Market

Information Source: Grand View Research

 

 

 

 

 

 

 

 

Pea Proteins Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Pea protein is a plant-based protein food additive extracted from yellow peas that can be used as an alternate to other protein sources like dairy products including cheese, yoghurt, and milk, soy and animal-based proteins. A comparatively newer entrant to the plant-protein world, pea proteins are fast gaining appeal due to their numerous advantages. They possess an amino acid profile that is rich in lysine, arginine and branched chain amino acids. They are non-allergenic and non-genetically modified. They are preferred by vegans and consumers suffering from gluten allergies and celiac diseases.  They are a versatile product and are more environmentally sustainable than meat proteins.

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A key challenge while formulating with pea protein is its viscosity and taste issues. Some pea protein products bear a strong salty or bean taste. They often carry a shrimp-like smell. The widespread dominance of soy, milk, canola and wheat, and low mass-consumer awareness regarding newer protein alternatives is another inhibitor of growth for pea proteins market.

The pea proteins market is fragmented and characterized by strategic partnerships between manufacturers, distributors, and food & beverage businesses that enable the development of products with tailored properties.

Product Classification

Pea proteins products can be categorized based on their protein content, into isolates, concentrates and textured pea protein. Isolates are characterized by high solubility and amino acid content, and superior emulsification properties. This makes them a suitable alternative for meat products.  They also contain more than 90% protein and are therefore ideal for use in sports nutrition. The high protein content also leads to less consumption of the raw material and thus, lowers costs. Textured pea proteins are high in fiber. Their texture is similar to that of meat. They are used in dietary supplements and beverages. Pea concentrates are up to 75% protein. They are mostly added to food, beverage and aqua feed.

Application Insights

Pea proteins find the greatest use as dietary supplements. In fact, more than 65% of total pea proteins sales in the world in 2014 were in the form of dietary supplements.  Pea protein is an ideal nutritional supplement for sports enthusiasts like endurance athletes as it has a longer digestion window leading to a slower release of protein thereby increasing satiety. It also fuels muscle and bone growth. Food & beverage businesses include pea proteins as fortifiers in products like energy drink-mix powders. Meat substitute is also an important application of pea proteins. Pea proteins are an ideal alternative to eggs as they can induce the same fluffiness in baked goods.

Regional Insights

North America and Europe proved to be lucrative markets for pea proteins in 2014, attracting about 60% of the total volume.  In the US, pea protein is a part of green mixes that include other ingredients like micro-algae and plant-based anti-oxidants. The Asia Pacific region is also witnessing growing demand for nutrient fortified functional food products and consequently, pea proteins.

Outlook

Worldwide protein consumption is expected to increase from more than 200 billion tons in 2014 to close to 300 billion tons by 2022. Higher demand for protein owing to the growing health awareness will stimulate demand for pea proteins. The growing vegetarian population triggering the need for meat substitutes is a major factor for future growth of the global pea proteins market. Also, lactose intolerance, soy and gluten allergies will result in higher demand for pea proteins. Heavy investments in research and development for product innovation and in areas like extrusion technology will prove beneficial to market growth.

Of the various types of pea proteins, isolates are expected to witness the highest growth due to higher demand for protein powders and bakery products. The dietary supplements market is expected to grow robustly and will reach more than 60 billion by 2022, thereby augmenting the demand for pea proteins.

While growth will remain strong in North America and Europe, the Asia Pacific countries of China, India and South Korea will witness the fastest growth due to accelerated expansion of the food & beverage industry and favorable regulations. The key players of the global pea proteins market are Consucra-Groupe Warcoing, Burcon NutraScience Ltd., Nutri-Pea Ltd., Sotexpro, Shandong Jianyuan Foods Co. Ltd., and Roquette Freres.

Pea Proteins Market

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Omega 3 Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

Omega 3 fatty acids are polyunsaturated fats important for the body to function normally. They deliver multiple health benefits like protection against Alzheimer’s and heart disease, lowering stiffness and joint pain due to Rheumatoid Arthritis and reducing symptoms of Attention Deficit Hyperactivity Disorder (ADHD) in children, among others. Of significant importance is its role in infant development and life-long brain, eye and cardiovascular health.

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Omega 3 fatty acids like EPA and DHA are mainly found in fish while ALA is found in nuts and seeds. Consumer products with omega 3 can be divided into dietary supplements and functional foods, clinical nutrition & beverage, pet foods, infant formula and pharmaceuticals.

Growth Drivers

Rising consumer awareness about maintaining a balanced diet regime for disease-free living and the health benefits offered by omega 3 fatty acids are the main drivers of demand for omega 3 products. People are increasingly including omega 3 fatty acids into their diet in the form of fresh seafood, functional foods and supplements. Existing applications of omega 3 are penetrating new markets and new applications are also being found, leading to steady market development. Approvals from various health bodies like the American Dietetic Association and the Food and Drug Administration (FDA) are also expected to fuel growth.

Challenges

Fish oil is the main source of omega 3 ingredients. However, its foul odor and distinctive taste negatively affects consumer perception and hampers demand. Also, limited global supply of fish oil is a challenge area. The fishery capacity of EPA and DHA has undergone change with higher reliance on fewer fisheries in recent years. A lack of Recommended Dietary Intake (RDI) standard has also hindered market growth.

Market Segmentation

Application

Key application segment based on market share is supplements and functional foods. This accounted for more than half of the total omega 3 market in 2012. Infant formula is another leading application segment expected to experience the fastest growth due to high demand coming from developing economies of Asia as well as Eastern Europe, Middle East and Latin America. Endorsements from official agencies have led to rising number of working women seeking quality and convenient nutrition in the form of formula, thereby fueling market growth.

Geography

The developed markets of North America and Europe drove most of the demand for omega 3 in 2012. Europe, with more than half of the global market share, was the market leader and North America stood in second place. The European Food Safety Authority has set the dietary reference values (DRVs) of omega 3 fatty acids to 250mg daily in order to reduce the risk of heart disease. In 2010, EU formulated new rules for omega 3 labeling with the intent of educating consumers regarding the quantity of EPA and DHA present in a product. This led to the introduction of new products. Panels of the US and Canadian governments recently selected DHA and EPA for Dietary Reference Intake (DRI) review. Favorable regulations regarding the inclusion of omega 3 in functional food and infant formula will trigger future demand in these regions.

Emerging economies of Asia Pacific are likely to experience the fastest growth in the coming years. Growing population in these regions will lead to higher demand for infant formula thereby increasing the market for omega 3 fatty acids. Also, rising awareness levels and increasing incidences of lifestyle-related illnesses such as coronary artery disease will boost demand.

Competitive Profile

Innovation drives competitiveness in the global omega 3 market. DSM is the world leader in the omega 3 market. In 2012, DSM acquired Martek, a leading US-based producer of omega 3s and Ocean Nutrition, a Canada-based supplier of fish-derived EPA and DHA. Martek’s acquisition brought DSM opportunities in the infant nutrition segment. In 2014, it announced an investment of $30million to upgrade and expand Ocean Nutrition’s omega 3 production facility in Nova Scotia. Other market players include Pronova BioPharma ASA, BASF SE, Croda International Plc., and Omega Protein Corporation. Martek Biosciences and Lonza were the first ones to manufacture omega 3 ingredients for algae oils.

Omega 3 Market

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Near Field Communication Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Near Field Communication (NFC) technology makes possible safe and simple two-way interactions between electronic devices such as mobile and tablets. NFC includes a set of protocols that allow devices to communicate with each other when touched together or brought close at a distance of 3.9 inches or less. The technology works even when one of the devices is not powered by a battery. NFC makes use of the RFID technology and is a viable alternative to the prevalent short range data exchange options like Wi-Fi and Bluetooth.

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NFC offers various benefits over Bluetooth. It does not require a pairing code and takes lesser time to set-up. The shorter range provides better security, making it suitable for crowed areas. The low power feature offers added advantage. NFC is expected to make connections easier, transactions quicker and data sharing simpler in the coming years. It will eliminate the need to carry multiple credit cards as well as debit cards. For a long time NFC technology was riddled with problems between banks and network operators relating to sharing of revenues. However, a business model based on cooperation was agreed upon to serve the interests of all parties involved.

Products

NFC market includes product categories like NFC Controller ICs, NFC tags, NFC readers and NFC secure elements. NFC secure elements can be further split into NFC micro SD cards, embedded secure elements, NFC subscriber identity module and NFC universal integrated circuit card. Several mobile and tablet makers are adding NFC features to their products. NFC-enabled mobile devices are anticipated to reach 863 million units in 2015. The prevalence of NFC-compatible infrastructure such as point of sale and transportation systems in various regions is conducive to widespread implementation of NFC technology all over the world in future.

Markets

Geographically, the Americas, US in particular, account for a significant share of NFC market, while the Asia-Pacific region is expected to witness the fastest growth in future. European countries, specifically Germany and UK, and the Middle East, Australia and Africa are also seen as promising markets. The presence of semiconductor and other NFC related businesses in countries like Canada, Mexico and Brazil provide an impetus to NFC growth in the Americas. There exist a large number of small operators in the NFC market and the gaps are being filled by several new entrants. Markets are characterized by collaborations and partnerships across the supply chain, primarily among the top competitors.

Outlook

NFC technology is expected to play a major role in future with rising internet penetration, trend of mobile commerce and higher availability of NFC-enabled mobiles driving growth. Its applications will cover a gamut of activities like data sharing, authentication and access control, ticketing, and NFC based geo-tagging. NFC integration is taking place in several consumer electronic devices and the technology is drawing attention from industries like security, healthcare and automobile. NFC will generate revenues for the entire NFC ecosystem that includes handset manufacturers, trusted service management system businesses and commercial NFC service providers. The market for NFC is expected to grow at a CAGR of 8.83% and will reach $16.25 billion by 2022. Key global players include Texas Instruments, Samsung Electronics Corporation, MediaTek, Infineon Technologies, NXP Semiconductors, among others.

Near Field Communication Market

Information Source: Grand View Research

Mobile POS Terminals Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Any wireless device like a smart phone or a tablet that is used as a cash register at the place where a sales transaction occurs is a Mobile POS Terminal. Mobile POS devices enable connectivity at all times and are the preferred mode of operation in modern times. Increased use of mobiles and tablets, higher mobility, faster throughput, low initial investments, technological advancements and convenience of operation are the key factors leading to the popularity of Mobile POS Terminals. Low set-up costs are the most attractive feature that draws small and medium businesses towards this technology. However, complicated governmental regulations and multiple certifications may prove a hindrance to rapid growth.

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Product Insights

Mobile POS Terminal Systems incorporate features like VoIP, RFID, Wi-Fi, and smart card. They can also be connected to Bluetooth-enabled printers for faster checkout at retail stores. They employ technologies like Wi-Fi, CDMA, GPRS and 802.11 and offer reduced transaction costs. The advent of chip-embedded payment cards secured by personal identification number (PIN) has improved data security, thereby augmenting demand for POS terminals. Advanced POS systems are more durable as well as reliable and therefore, a better alternative to traditional systems, like cash registers. Also, better availability of affordable wireless communication systems and widespread proliferation of terminals enabled with TCP/IP connectivity will have a positive effect on the Mobile POS Terminals market.

Apple Pay, the mobile payment and digital wallet service introduced by Apple Inc. in 2014, is anticipated to take the place of traditional POS systems in future years. Also, reduced prices and the futuristic contactless technology are leading to growing demand for NFC-enabled POS Terminals.

Mobile POS Terminals feature pre-loaded software that is frequently customized to suit the user needs. There has been higher proliferation of Software as a Service (SaaS) in the Mobile POS Terminals market in recent years. The terminals are rugged and ergonomic. Implementation of hardware interface standards will have a positive effect on the POS hardware market.

Key Application Areas

Mobile POS Terminals witness strong demand from the retail sector followed by the hospitality industry.  Applications in retail outlets include managing assets, conducting price checks, receiving invoices and getting customer signatures, among others. Transactional data obtained from POS Terminals is a rich source of customer analytics intelligence. Quick Service Restaurants find great use for Mobile POS Terminal Systems due to speed and convenience. Healthcare organizations are also increasingly looking towards Mobile POS Terminals as a way for streamlining their payment systems and for tracking patient data. Warehousing and inventory management are the other areas where Mobile POS Terminals are being employed. However, the key demand for Mobile POS Terminals is expected to come from the small and medium retail businesses in the forthcoming years.

Regional Insights

The market for Mobile POS Terminals has reached maturity in developed economies of US and Western Europe. However, growing economies like China, India, Mexico and Brazil, with their increasing penetration of credit and debit cards, will provide growth opportunities in future. The expansion of retail industry in India and China is expected to boost the demand for Mobile POS Terminals in these regions.

Competitive Profile

Key market players include VeriFone Systems Inc., NEC Corporation, Panasonic Corporation, PAX Technology Ltd., Toshiba Corporation, MICROS Systems Inc., Cisco Systems Inc., Samsung Electronics Co. Ltd., Hewlett-Packard and Ingenico S.A., among others. The industry is characterized by consolidation, with mergers and acquisitions being a dominant feature for the past few years. Ingenico S.A. took over the POS terminals business of Sagem Monetel in December 2007. Similarly, Verifone Systems Inc. acquired Hypercom Corporation in August 2011. The Mobile POS Terminal market is expected to witness increased competition in the coming years as new businesses enter the industry.

Mobile POS Terminals Market

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Medical Oxygen Concentrators Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Oxygen concentrators are stationary or portable devices that supply oxygen to patients in high concentrations. They are particularly useful in treating respiratory ailments like bronchitis, emphysema, sarcoidosis, and chronic obstructive pulmonary disease (COPD). Oxygen concentrators generate oxygen by concentrating the oxygen present in the air and removing other gases. Supplemental oxygen enables bodies of respiratory patients to carry out necessary functions. Portable oxygen concentrators offer freedom to users to continue their normal life. Convenient, affordable and light, portable devices have altered industry dynamics and accelerated market growth. Innovative products characterized by long battery life and superior delivery of oxygen are favorable for the medical oxygen concentrators industry. Aging population and rising respiratory illnesses are also expected to increase demand.

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Product & Technology Insights

Oxygen concentrators are divided into two types – portable and non-portable. Non-portable concentrators are cheaper but more cumbersome and difficult to move than portable concentrators. Due to their several benefits, portable devices contributed to more than half of the total revenues in 2014. The demand for portable concentrators is expected to be further augmented by high prevalence of respiratory problems as a result of growing consumption of cigarettes, cigars, etc., increasingly by youngsters, in future.

Portable concentrators include two types of technologies – continuous flow and pulse dose. Pulse dose oxygen concentrators release oxygen only when the patient takes a breath, while continuous flow oxygen concentrators supply oxygen continuously once the device is turned on. While pulse dose devices are lighter and more compact, they cannot cater to patients who require a heavier concentration on a continuous basis. Therefore, continuous flow concentrators secured a dominant market share in 2014. However, pulse dose devices did achieve high market penetration in the same period.

Applications

Demand for medical oxygen concentrators comes from homecare and non-homecare segments. Non-homecare segment primarily comprises of hospitals and healthcare centers which are characterized by high demand due to heavy patient volume. Yet, the homecare segment accounted for more than half of the total market share in 2014. Rising air pollution levels in major cities all over the world pose a significant risk to public health. Harmful substances like nitrogen dioxide and sulfur dioxide act as trigger for asthma episodes and COPD exacerbations, adversely affecting breathing. Oxygen concentrators provide relief for sufferers traveling in high-pollution areas. This, coupled with the development of technologically superior devices will lead to future market growth.

Regional Insights

The Asia Pacific region, including nations like India, China, Australia and Japan, is foreseen to be the most promising market for medical oxygen concentrators due to factors like economic growth, developing healthcare infrastructure, burgeoning population, decreased air quality, and growing awareness levels. Latin American countries of Brazil and Mexico too, are expected to be lucrative regional markets. The main demand for medical oxygen concentrators in 2014 came from North America followed by Europe. This was due to well-developed home healthcare systems, higher disposable incomes, growing incidences of asthma, emphysema and chronic bronchitis. Additionally, agencies like European COPD coalition, European Federation of Allergy and Airways Diseases Patients Associations, American Lung Association, and American COPD Foundation, among others are working towards raising awareness levels and funds, thereby contributing to market growth.

Competitive Profile

Chief market operators include Inogen Inc., AirSep Corporation, Invacare Corporation, Inova Labs Inc., O2 Concepts, Teleflex Incorporated, Teijin Ltd., Nidek Medical, DeVilbiss Healthcare, Covidien Ltd., among others. Players are engaged in consolidation through mergers and acquisitions with the aim to increase regional penetration and offer an extensive product range. Existing players and new market entrants are taking efforts to meet consumer demand for more superior, compact and lighter devices leading to introduction of quality products at low prices.

Medical Oxygen Concentrators Market

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Image Sensors Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Overview

Image sensors are devices that possess the ability to convert optical images to electric signals. Image sensors are widely used in imaging devices like digital cameras. Consumer electronics, automotive, medical, surveillance, industrial, aerospace and defense are the main application areas of image sensors. The global image sensors market in 2012 stood at around $8billion.

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Growth Drivers

The global demand for image sensors is fueled by extensive proliferation of digital cameras and mobile phones and tablets that feature cameras, growing popularity of online social media, developing telecommunications infrastructure in developing regions, innovative applications and product upgrades.

Market Segmentation

Technology

Image sensor technology falls into three categories: CCD – Charge-Coupled Device, CMOS – Complementary Metal-Oxide Semiconductor, and CIS – Contact Image Sensors. CCD sensors are equipped with several capacitors that get charged when light falls on them. A converter changes each pixel’s value to digital value. CCD sensors employ a special manufacturing process that enables the transportation of charge across the chip without distortion thereby creating high-quality, low-noise images, however consuming significant power. CCD sensors have been demanded in medical and scientific applications but are facing stiff competition from CMOS technology.

In CMOS sensors each pixel has its own charge-to-voltage conversion. The design is complex with the sensor including amplifiers, noise-correction and digitization circuits. This reduces image quality, resolution and light sensitivity. However, CMOS sensors consume less power and are inexpensive and portable. Moreover, technological advancements like Backside Illumination (BSI) are leading to better resolution and picture quality. CIS are optical flatbed scanners that do not use CCD arrays but employ a system of mirrors and lenses for projecting the scanned image onto the arrays. They are more compact and consume less power.

 Application

The most important application segment is consumer electronics, particularly digital cameras. However, the explosive growth in smartphone usage is expected to drive future demand. The automotive sector is also contributing to demand. Advanced Driver Assistance Systems (ADAS) use image sensors like Radar, Lidar, Ultrasonic, camera and night vision sensors for features like parking assistance, lane departure warning and collision avoidance systems. Consumer electronics and automotive applications secured more than 50% of the market share in 2012.

Healthcare applications like dental imaging, endoscopy, minimally invasive surgery, cardiology, and radiography will constitute the market for image sensors in future.

Growing security concerns are fueling demand for image sensors in surveillance. Image sensors enable IP surveillance cameras to create videos by capturing the light hitting the camera lens and converting it into electrical signals. These signals get recorded as video that can be viewed while monitoring the surveillance system.

Defense sector uses cameras that have image sensors capable of capturing images of fast-moving objects. An important consideration is the ability of cameras to deliver optimal performance in extreme conditions. Other requirements in this area include product durability, compactness, lightness, and low power consumption.

Geography

North America accounted for more than 30% of the global image sensors market in 2012. North America and Europe are mature markets for consumer products like compact and DSLR cameras, camcorders, webcams, etc. The main growth for image sensors in these regions will arise from replacement demand in future.

Asia Pacific will prove to be the fastest growing regional market due to factors like rising disposable incomes leading to a high number of first-time purchases of digital cameras, increasing use of smartphones, trend of sharing pictures on social media and incorporation of webcams in laptops.

Competitive Profile

Key players in the global image sensors market are large businesses like Sony Corporation, Canon Inc., Samsung Electronics, Aptina Imaging Corporation and OmniVision Technologies, Inc. These companies strive to stay competitive by creating innovative products that offer quality. Another factor determining success is the product’s ability to integrate seamlessly in the latest upgrades of end-use devices.

Sony Corporation is the market leader in global image sensors market. In an attempt to retain this position and take advantage of the expanding market for smartphones and tablets, the company, in April 2015, announced its plans to increase the production capacity of stacked CMO image sensors from about 60,000 wafers per month to approximately 87,000 wafers per month by September 2016.

Image Sensors Market

Information Source: Grand View Research

 

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

Insights

Hydropower is power generated by capturing water that is flowing downstream. The kinetic energy of flowing water is converted into electricity using turbines and generators. This electricity is then used for various household and industrial purposes.  Hydropower contributes 36% to the total renewable energy output in the world. It is fast becoming a popular source of electricity generation in the world with more than 60 countries using it to meet more than 50% of the electricity needs. Hydropower is well-established and offers advantages including consistency and minimal occurrence of outages. Additionally it is an abundant energy source. Hydropower plants generally have a long life. Hydropower surpasses other renewable energy sources such as solar, wind, and geothermal in terms of future potential. Yet, hydropower technology is still nascent, with scope for development.

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Technology

Turbine technologies include three main designs that reflect the vast ranges of head levels and water flows. The Axial flow Kaplan turbines are commonly used where the head is only a few meters. Francis turbines are suitable for high to medium flows. In this type, water enters in radical direction and exits in axial direction. In cases of high head but low flow, the Pelton turbine is used. Here, water is channeled through a nozzle, onto a wheel with double cups.

Categories

Hydropower systems can be categorized into five types based on their size – Large (>10MW output), Small (1-10 MW output), Mini (100KW – 1 MW output), Micro (5KW – 100KW output), and Pico (<5KW output). Small hydropower plants enjoy several benefits over larger plants. Generation of large hydropower plants involves huge capital investment and management of issues like pollution during construction, and relocation and rehabilitation of affected parties. On the other hand, the adverse impact of small hydropower facilities over the environment and a nation’s budget is lesser. Small hydropower plants do not require building of large dams and reservoirs, consequently eliminating issues related to deforestation and submergence. Small hydropower projects are faster to construct. Additionally, they give a better rate of return owing to low capital investment and operational and maintenance costs.

There are three dominant types of plants based on power generating methods. Run-of-the-river plants are characterized by a low head and no reservoir capacity. They often feature a by-pass for ships. In plants with pumped storage, water is transferred up to a high reservoir for grid energy storage and released back. Conventional hydropower plants make use of water stored in a reservoir with the help of a dam.

Outlook

Burgeoning population and decreasing reserves of conventional energy sources are the key factors contributing to increasing demand for renewable energy, particularly hydropower. Hydropower enjoys huge support all over the world with several governments introducing favorable policies and incentives, the key ones being Feed-In Tariffs, Renewable Portfolio Standards and financial incentives. Asia-pacific region leads the world in installed capacity followed by Europe, North America, South and Central America, Middle East and Africa respectively. The global total investment in hydropower is expected to reach $75 billion in 2020 with higher installations in countries like China, Brazil, and India leading investment growth. The cumulative installed capacity of small hydropower plants is projected to increase at a Compound Annual Growth Rate of 2.9% by 2020. Key hydropower construction companies include RusHydro, Alstom SA, Sinohydro Corporation, and Vattenfall AB, among others.

Hydropower Market

Information Source: Grand View Research

 

Healthcare IT Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Product Overview

Healthcare Information Technology (IT) includes various technologies that are used to design, develop and maintain information systems pertaining to the healthcare industry. It involves the electronic storage, sharing and analysis of healthcare data and records. Healthcare IT encompasses areas like coding and billing, medical record keeping, digital imaging networks, etc. Key advantages of healthcare IT include better efficiency by reduced paperwork, higher accuracy as compared to manual maintenance of records, real-time access to patient information and overall cost reduction.

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Growth Drivers

Aging populace leading to rise in healthcare needs, technological advancements, government efforts to ensure affordable healthcare to all and a rising need for integrated healthcare systems are fueling global demand for healthcare IT products. The US government, under the American Recovery and Reinvestment Act (ARRA), provides financial incentives to healthcare providers and hospitals for meaningful implementation of healthcare IT products. This has led to increase in healthcare IT spending. The preference of CPOE – computerized physician order entry, over handwritten or transcribed medical orders owing to higher accuracy will also boost demand. Furthermore, the numerous advantages of interoperability are bound to attract government attention and support which will in turn generate demand for healthcare IT.

Market Segmentation

Key global healthcare IT applications include clinical information systems, laboratory information systems, electronic prescriptions, picture archiving and communication systems (PACS), electronic health records, computerized provider order entry systems, etc. Telehealth and telemedicine dominated the applications with their market accounting for revenues worth about $10billion in 2012. The rising prevalence of chronic ailments, growing preference for home healthcare, technological advancements in the area of telecommunications like SIP – session initiation protocol and TEEVE – Tele-immersive environment for everybody, and increasing usage of internet, particularly in developing regions like China, India and Brazil, will be the main factors contributing to the growing market for telehealth and telemedicine in future.

The second most-demanded application in 2012 was electronics health records. Electronic health records facilitate a seamless flow of information and make information available whenever and wherever needed. The market for electronic prescribing systems is expected to grow exponentially by 2020 due to advantages like inter-operability and user-friendly operation. Sophisticated e-prescribing systems can act as stand-alone prescription writers by performing functions like creating and refilling patient prescriptions, managing medications, connecting to pharmacies and integrating with electronic medical record (EMR) systems.

Geographically, the healthcare IT market can be split into North America, Europe, Asia Pacific, and ROW. A well-developed healthcare infrastructure system, substantial healthcare spending, high patient awareness and government incentives to implement IT in healthcare have proven beneficial to North America which bagged a share of more than half of the total healthcare IT market in 2012. Europe’s market share in 2012 was worth more than $10billion. Untapped markets in regions like Poland and Russia and rising number of private healthcare providers are expected to augment demand for healthcare IT in Europe.

The fastest growth in healthcare IT in the coming years is anticipated to originate from the Asia Pacific region. This can be attributed to the booming markets of China and India and the improving healthcare and telecommunications infrastructure in these countries. Moreover, healthcare reforms in China in April 2009 have opened up foreign investment opportunities, leading to greater demand for healthcare IT products.

Competitive Profile

Key healthcare IT competitors are Mckesson Corporation, Athenahealth Inc., eClinicalworks, GE Healthcare, Agfa Healthcare, Philips Healthcare and E-MDS Inc., among others. The industry is characterized by consolidation. Mergers, acquisitions and alliances enable operators to expand geographical reach and increase product range.

Healthcare IT Market

Information Source: Grand View Research

Digital Camera Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Industry Background

Digital cameras are consumer electronic devices that record images in digital form. Digital cameras gained popularity at the beginning of the new millennium and soon became one of the most coveted consumer electronic products in the era of digitization. Japanese manufacturers like Canon, Nikon and Sony ruled the roost with their superior products and quality assurance. However, they received a setback owing to the global economic crisis that began in 2007.

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As the economy recovered, so did the demand for digital cameras. Growing disposable incomes, availability of photo editing and manipulating software like Adobe Photoshop, technological advancements and widespread popularity of social networking platforms have aided the growth of the digital camera industry. Most demand came from developed regions like North America and Europe.

Product Insights

Digital cameras can be categorized into built-in lens camera and interchangeable lens cameras. Interchangeable lens cameras are further divided into Digital Single Lens Reflex (DSLR) cameras and non-reflex cameras. Built-in lens cameras made up more than 75% of total shipments in 2012. However, growing penetration of smartphones that can capture pictures and also perform various diverse functions will prove to be a challenge for market growth of compact point and shoot cameras. Moreover, internet availability on smartphones makes uploading of photos on social networking sites extremely convenient and swift. Thus smartphones are foreseen to be the single-most deterrent of rise in global digital camera sales.

High-end premium digital cameras like the DSLRs are faring better than other product segments, especially in developed regions, owing to their superior quality as compared to smartphone cameras. They also offer ease of use and are being priced lower than before. DSLRs made up close to 18% of total shipments in 2012. Interchangeable lenses offer advantages like compact size, convenience and efficient performance. This will drive demand for both, DSLRs and mirrorless cameras, particularly in developed countries in future. However, attempts by top smartphone makers to better their camera modules through higher resolutions, among other features, pose a significant threat to growth.

Products with enhanced technology like touch screen, higher zoom range, HD-video recording, wireless connectivity, etc. are expected to fuel market growth owing to demand from professional photographers and photo enthusiasts for exceptional quality. Manufacturers therefore aim to develop innovative products that can be differentiated based on additional features and technology.

Regional Profile

The former key markets of North America and Europe, particularly US, Germany, UK and France have reached saturation, leading to a steady decline in first-time purchases of digital cameras in the recent past. The European debt crisis also led to a drop in demand for non-essentials like digital cameras. US accounted for more than 80% of total shipments in North America in 2012. In the same year, Germany contributed more than 8 million units to the total sales volume in Europe. In the coming years, most demand for digital cameras in North America and Europe will be in the form of replacement of existing compact cameras with the latest, technologically advanced premium options.

The largest demand for digital cameras, in future, will originate from the Asia Pacific region. With more than 30% of global shipments in 2012, this market has witnessed considerable growth in the past ten years. Growing income levels and presence of untapped consumer segments in nations like China and India will prove beneficial to demand in Asia Pacific in future. Also, emerging Latin American economies like Brazil will contribute to rapid growth in ROW.

Competitive Insights

The global digital camera industry is characterized by consolidation, with the key players based in Japan. Dominant industry participants include Canon Corporation, Sony Corporation, Nikon, Hewlett Packard, FujiFilm, Panasonic and Samsung Corporation, Olympus, JVC, Sanyo and Kyocera, among others. These companies are focusing on developing customer-centric products so as to provide multiple features in one device. The quest to offer truly innovative functions in a bid to stay relevant in future has led to increased spend on research and developmental activities. Companies are also leveraging their brand identity through focused marketing and promotions in order to gain competitive edge.

Digital Camera Market

Information Source: Grand View Research