Electronics and Media
Global handheld imagers market outlook: Rising security concerns at airports will drive industry growth
Escalating terrorist attacks and criminal nuisances across the globe will push global handheld imagers market. Security concerns, especially at airports and stations due to the heavy crowd, is propelling the demand for handheld imagers across the globe. With the advent of technology, these imagers provide excellent features, such as barcode scanning, age verification, document scanning. Furthermore, prominent industry players are continuously investing in research activities to propose new thermal camera-based handheld imagers that will combat the fierce situational threat by ensuring adequate security. According to Global Market Insights Inc.,” Handheld imagers industry, worth over USD 1.48 billion in 2015, is projected to grow significantly at a CAGR of 12% over the period 2016-2023.”
Europe Handheld Imager Market size, by application, 2012-2023 (USD Million)
Based on product trends, handheld imagers market is fragmented into IR scanner, millimeter wave scanner, stud finder, and microbolometer. IR scanner industry is forecast to dominate the industry in the years ahead, driven by the excellent characteristics of these scanners such as inventory control, high-quality output, and time-efficiency. In addition, IR scanners, which are used for scanning and printing output codes from the computer will further fuel market demand, especially in the construction sector. Stud finder industry is also expected to witness substantial growth rate at a CAGR of 17% CAGR over 2016 -2023.
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Millimeter wave scanners, which help sense objects hidden in an individual’s clothing through electromagnetic radiation will also lucratively contribute to market growth. Airport security is one sector where these scanners are increasingly used for sensing any possible threat. Millimeter wave scanner handheld imagers industry is projected to grow heavily at an annual rate of 17% over 2016-2023.
Below are the regional highlights influencing the market globally:
- North America handheld imagers industry accounted for the largest share in terms of revenue in 2015, and is poised to grow significantly at a CAGR of 12% over the period 2016-2023. High prevalence of criminal activities will prompt handheld imagers market to prosper in this region. Strict regulatory framework regarding security concerns at airports will stimulate U.S. handheld imagers industry.
- Asia Pacific market is anticipated to witness noteworthy growth at an annual CAGR of 13% over 2016 -2023. High-security requirements will also enhance the regional demand. Moreover, the rising need to synchronize the scanning process to achieve overall cost reduction will result in substantial growth in India and China handheld imagers industry. Ability to detect weapons, explosives, and other dangerous objects will also propel the regional demand.
- Driven by cost effectiveness, Europe is also expected to be one of the prominent regions to exhibit significant growth over the coming six years.
Medical application, which is actively partaking in the handheld imagers market, is anticipated to have a steady growth in future owing to the increasing patient health concerns. Advanced features, such as antimicrobial and aggressive decoding performance is having a positive influence on handheld imagers industry.
Although security application accounts for a large share of the market, handheld imagers market from the industrial segment is also expanding considerably owing to high product efficiency and durability.
Some of the notable players of the handheld imagers industry include Bosch, DRS Technologies, Zircon Corporation, Fluke Corporation, FLIR, Stanley Black & Decker and ULIS.
Author Name :Satarupa De
Barcode printers market revenue is anticipated to grow considerably over the coming five years, driven by rising demand for portable scanners, thermal mobile printers, and portable printers. Moreover, rapid technological breakthroughs have further contributed towards the growing popularity of barcode printers across healthcare, retail, government, shipping, and manufacturing sectors. As per Global Market Insights, Inc., “Barcode printers market size is expected to hit USD 4.51 billion by 2022.” Rising trend of IoT, RFID, and NFC technologies are expected to open new vistas for barcode printers industry over the next few years.
EMEA barcode printers market size by application, 2012 – 2022 (USD Million)
Manufacturing sector is one of the major application areas, expected to create high growth opportunities for the industry over the coming years. As per the research study, manufacturing sector contributed over 35% of global barcode printers market share in 2014, driven by wide application of barcode printers in inventory control & labelling and tracking of work-in-progress activities.
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Barcode printers market value in the retail sector is expected to surpass USD 800 million by 2022, driven by its wide use in shelf labelling, price-tag printing, product labelling, and point-of-sale. Furthermore, many of the retail stores offer facilities such as receipt printing and payment processing by using printers and scanners. Moreover, extensive use of barcode printers in patient ID systems, patient data tracking, and patient care activities is expected to drive the industry revenue in the healthcare sector.
Industrial, desktop, and mobile printers are the major products of barcode printers market. Industrial barcode printers market, which contributed towards 60% of the overall revenue in 2014, is predicted to dominate the product landscape over the coming five years. High product demand across warehouse & order labelling applications is expected to influence the industry growth. Mobile barcode printers industry size is expected to grow considerably over the coming timeframe, owing to its use in printing receipts, tickets, and labels.
Printers making use of laser, thermal transfer, ink-jet, impact, and direct thermal technologies are expected to impact the revenue prospects of the industry over the coming years. Thermal transfer barcode printers market is projected to cross the revenue of USD 1.7 billion by 2022. Direct thermal barcode printers industry is expected to grow at a rate of 9.7% over the period of 2015-2022, driven by its ability to create a durable image on printing materials along with its growing use in printing shipping labels as well as receipts.
Below are the regional trends influencing barcode printers market over 2015-2022
- North America barcode printers industry is expected to dominate the global share over the coming years. U.S is expected to contribute significantly towards the regional revenue.
- High capital investments by multinational corporations across retail and industrial sectors is expected to drive the APAC barcode printers industry size. Furthermore, the growing presence of production units in the region is expected to boost the regional growth.
Key industry participants include SATO Holdings Corporation, Dascom, Toshiba Tec Corporation, Honeywell Safety and Productivity Solutions, Avery Dennison Company, Zebra Technologies, Printronix, Printek, and Dascom.
Below are the key trends in the barcode printers market to watch for in the coming five years
- Thermal mobile printers are deployed on a large scale by various firms as they are cost-effective and help in enhancing the work throughput.
- Manufacturing sector dominated the application landscape in 2014 and can continue to lead the market share over the coming years.
- Industrial barcode printers will continue to dominate the product segment over 2015-2022, with revenue projected to cross USD 2.8 billion by 2022.
- Thermal transfer barcode technology is expected to dominate the technology landscape.
- North America, contributing nearly 30% of overall revenue in 2014, to continue dominating the regional landscape over the next five years.
- Key industry players will try to enhance their sale and regional presence by adopting business growth strategies such as mergers & acquisitions.
Author Name : Dhananjay Punekar
Sedentary lifestyles have created a greater need in society for physical activities leading to spontaneous growth in fitness equipment market. Fitness equipment industry is witnessing a spur due to technological advancements such as digital connectivity, monitoring the heath related data such as steps taken, calories burned, sleep duration, etc. Moreover, rising awareness regarding health & fitness, maintaining cardiovascular functioning, improving physical stamina and flexibility will further propel the fitness equipment market trends. According to Global Market Insights, Inc., “ Fitness Equipment Market size worth USD 10 billion in 2015, is estimated to grow at a CAGR of 3.8% over the period of 2016-2023.” Increasing consciousness among the youths worldwide to be fit and maintain the aesthetic appearance is likely to boost the industry revenue.
Taking into consideration the products trends, fitness equipment market is segmented into body analyzers, cardiovascular training equipment, strength training equipment, and activity monitors. Among these cardiovascular holds majority of the market share by accounting for over 57% of global fitness equipment market, owing to its health benefits such as heart rate conditioning, body toning, metabolism improvement, and fat burning. Strength training equipment market is growing substantially, owing to its use in improving strength through muscular workouts and anaerobic endurability. Moreover, increasing health programs, motivational, and promotional activities conducted by health clubs will surge fitness equipment industry share over the coming years. Interesting developments regarding healthy lifestyles in emerging economies will be one of the lucrative growth aspects in fitness equipment industry.
MEA Fitness Equipment Market size, by product, 2012-2023 (USD Million)
Asia Pacific fitness equipment market will achieve significant escalation in the coming timeframe. The growth can be primarily attributed to changing lifestyles, growing obesity, and increasing health awareness across the region. Growing urbanization in China, Japan, South Korea, and Australia is set to significantly catalyze the regional industry share.
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The most lucrative application contributing significantly towards the global fitness equipment market is the Gym/Health Clubs which include treadmills, benches, racks, functional training machines, etc. Health clubs accounted for over 50% of the overall fitness equipment industry share in 2015, and is projected to witness a CAGR of 3.3% over the period of 2016-2023. Furthermore, considerable adoption of these equipment in offices, hotels, homes, etc. to change the inactive lifestyles by undertaking health and wellness programs will further stimulate the fitness equipment industry. Home fitness equipment market is anticipated to grow at a rate of 4.7% over coming six years.
North America is set to witness a rising number of gyms and health clubs along with increasing application of strength training and cardio systems, which will stimulate the regional share. US fitness equipment market accounted for over USD 4.5 billion in 2015, and is likely to lead the regional growth.
The global fitness equipment industry will be highly competitive with market players investing in wearable technologies for additional value coupled with attracting customers with discount schemes and annual subscription. The key players include Technogym, Icon Health & Fitness, Nautilus, Johnson Health Tech, Amer Sports, and Brunswick Corporation.
Author Name : Ojaswita Kutepatil
Household Vacuum Cleaners industry size is expected to grow at a rate of 4.6% over the period of 2016-2024. Changing urban lifestyles and demand for precise & real time technologies will mainly drive the household vacuum cleaners market size over the coming timeframe. Tight schedule and active lifestyle makes time saving mandatory. Dual-earning families and middle income groups will face time-constraints to manage household chores. Therefore, accomplishing everyday domiciliary tasks besides the hectic work schedule will propel household vacuum cleaners industry growth.Rising living standards and enhanced consumer spending capacity on luxury appliances will further drive household vacuum cleaners industry revenue. Increasing awareness pertaining to time-efficiency, convenience and benefits derived due to vacuum cleaners use is expected to promote household vacuum cleaners market trends over the coming years. Moreover, swift advancements in technology supporting innovations will make it more energy efficient, economical, and user-friendly.
APAC Household Vacuum Cleaners Market size, by product, 2013-2024 (USD Million)
Major household vacuum cleaners comprise Upright, Canister, Central, Drum, Wet/Dry, and Robotic cleaners. Robotic household vacuum cleaners market share will reach USD 3.5 billion by 2024, owing to its innovative features such as acoustic sensors, automated mapping capabilities, self-charging, and sweeping brushes. High demand for mobile support applications is expected to drive its growth over the coming years.
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Upright vacuum cleaners led the product landscape, owing to its small size and high performance ratio. It is anticipated to contribute over 25% of the overall household vacuum cleaners industry share by 2024 and will register a CAGR of 3.2% over 2016-2024. The growth can be attributed to major features such as small size with high suction capabilities and large cleaning surface area which adds to its high performance.
Canister vacuum cleaners market is expected to register a CAGR of 4% over the timeframe of 2016-2025, owing to its user-friendly features.
North America household vacuum cleaners market is expected to witness a high growth over the next few years on account of rising time constraints for home-based cleaning along with heath & hygiene awareness among consumers. U.S. is expected to contribute significantly towards the regional share.
Asia Pacific household vacuum cleaners industry share worth USD 3.7 billion in 2015, is expected to grow at a CAGR of 5.2% over the coming eight years, owing to its high demand. India, Japan, and China are predicted to boost the regional revenue.
Market players will try to grow their regional presence and ROI through mergers & acquisitions and product differentiation. They will try to compete in terms of price, product branding, technology, performance, energy consumption and quality. The key industry participants include TTI Floor Care, Oreck, Dyson, Stanley Black & Decker, Panasonic, Samsung, Royal Philips Electronics, Eureka Forbes, Haier Group, iRobot, and LG.
Author Name : Ojaswita Kutepatil
ATM, referred as automated teller machine, is an electronic telecommunications equipment which helps customers to perform transactions like cash withdrawal without any requirement of human intervention like bank cashier or clerk. It is used to reduce the burden of monetary transactions on bank staff and save time of both customers and bank staff. This could also help staff of bank to allocate saved time to complete other important monetary transactions.As per latest research reports published by Global Market Insights, ATM Market size was $12.7 billion for 2015 and is projected to generate revenue of more than $26.1 billion by end of 2023 by registering CAGR of 9.9% during forecast period.
These days, most of the financial institutions like banks are promoting ATM services in order to save time used for cash withdrawals, deposits & transfers and prevent long bank queues. Furthermore, from customer point of view, these machines minimize customer waiting time and this aspect is expected to boost global ATM market growth.
Rising deployment of these machines, brand consciousness and its use is predicted to favorably affect ATM market trends. Since these machines offer many services with quick and easy access, the global industry has experienced high acceptance among the people across the globe.
Asia Pacific ATM market size, by solution, 2012 – 2023 (USD Million)
However, growing security concerns related to hacking, card scanning for capturing customer information, theft, fraud and server problems cam hinder the global industry growth.
Monetary organizations like banks are outsourcing functions to minimize maintenance and functional costs and this has led to growth & expansion of brown label ATM machines. They help in minimizing cost per bank transaction and offer improved focus on core banking functions. All these factors have fueled the global ATM industry growth.
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Global ATM industry is segmented into deployment solutions and managed services solutions. Deployment solutions are sub-segmented into mobile solutions, onsite solutions, worksite solutions and offsite solutions.
Deployment solutions segment contributed significantly to the global revenue share of ATM market for 2015. Worksite ATM market share is projected to surpass $2.6 billion by end of 2023. They provide quick and improved services to users by enabling flexible money deposits and withdrawals. Increase in proportion of IT firms all across the globe is predicted to provide lucrative growth avenues for the sub-segment.
Mobile segment is projected to record CAGR of 12.9% during forecast timeframe. These kinds of ATMs are installed by banks to reduce customer traffic at high volume bank locations.
Financial institutions like banks can move secondary functions to professional service providers with help of managed services. In this way the segment helps the institutions like banks to focus on their core activities and functions. Outsourcing of managed services also offers advantages like low functional costs & investments, enhanced profits and compliance with regulations.
Global ATM market is segmented into various geographical regions like APAC, LATAM, Europe, MEA and North America.
U.S. ATM industry is predicted to drive revenue growth of North American industry by more than $9.1 billion by end of 2023. Factors like fleet growth, substitution of aging equipments by monetary firms and integration abilities like remote assistance, biometrics and video conferencing has promoted revenue growth in the region.
Rising demand for fulfilling the need for fast cash withdrawal of the people in countries like Indonesia, China, Vietnam and India is projected to promote APAC ATM industry growth.
Key industry players include Triton Systems, GRG Banking, Diebold Incorporation, Nautilus Hyosung, Wincor Nixdorf, Fujitsu, Hess Cash Systems, Euronet, Hitachi-Omron and NCR.
Smart ATM industry is predicted to acquire significance in future owing to growing need for controlling fraud menace. Today, firms are investing substantially in research & development and product innovation activities to expand their business and increase their global reach.
Author Name : Dhananjay Punekar