Sustainable & Smart Technologies
Optical sorter market to accrue hefty gains from the food sector, rising proliferation of innovative products to impel the industry growth over 2018-2024
The increasing deployment of sorting machines for improving plant productivity has been propelling optical sorter market share. The shortage of labor and surging need to handle more quantity of products in a less time are a couple of the most prominent causes behind the increasing deployment of sorting machines. In recent years, the optical sorter has emerged as one of the pioneering products to handle grains, pulses, spices, beans, rice, nuts, fruits, vegetables, and plastics. The capability of this device to sort the products based on their shape, color with high efficiency, excellent precision, and performance is poised to expedite optical sorter industry outlook considerably.
Germany optical sorter market, by application, 2017 & 2024 (USD Million)
The commitment of key players in the optical sorter market toward innovation, superior manufacturing, and intelligent design will have a notable influence on future product demand. Recently, the leading food sorter manufacturing company, TOMRA Sorting, Inc., has revealed its plan to launch innovative sorting machines at Pack Expo. TOMRA has been working to resolve customer issues with its new product launches to enhance its customer base. With this recent launch, it seems to have resolved the issues pertaining to the food processing companies that had been struggling earlier to filter out foreign materials like stones, wood, metal, glass, and plastics from vegetables and potato products. The company claims that the newly developed machine will filter 98% of all types of filtering objects. The incidence testifies that the innovative capabilities of the companies to fulfil the customers’ needs with their high standard products is likely to stimulate the optical sorter market share from the food industry over the years ahead.
The advent of next-generation technologies such as the Internet of Things (IoT), and Artificial Intelligence (AI) also has augmented the product development strategies of optical sorter industry contenders. Considering the ease of use of technologically advanced sorting equipment, several end-users have been deploying sorting machines on a large scale. For instance, in the middle of 2018, the UK based waste management company, Viridor has invested nearly 445,000 pounds to upgrade its plastic processing facility with the deployment of the robotic sorter. This robotic sorter can be utilized to purify PET plastics by filtering metals and other kinds of contamination pertaining to the integration of AI-powered vision systems.
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Speaking along similar lines, in order to resolve the issue of the labor shortage, U.S. based Diamond Fruit Growers has recently invested to deploy its first ever optical sorting line specially designed for pears. The Italian company, Unitec has also engineered an optical sorter with the integration of software that can minimize the damage by sorting out fruits based on their grade and size without scuffing. The use of such machines to handle a plenitude of products at the food processing facilities will help companies to handle more volume with less labor. Continuous investments in technology by prominent end-users to handle a large volume at a time is likely to propel optical sorter market trends.
In addition to food processing, the mining sector is a pivotal revenue generating ground for optical sorter market players that have been incorporating new features into existing models. They have also been enhancing the design features of the products to improve its wear-resisting capability and ease of maintenance. Taking into account the extended life cycle of the products, most of the mineral and metal ore extraction industries have been deploying modern optical sorters on a large scale which will have a positive influence on the market growth. For the record, in 2017, the mining industry held a 15% share of the optical sorter market.
Growing availability of highly advanced product ranges will propel the optical sorter industry outlook over the years ahead. In addition, increasing awareness among the end users about the cost-effective returns obtained from the automated processes at the workplace will also have a notable influence on the product demand. For the record, by the end of 2024, optical sorter market will surpass revenue collection of USD 3 billion.
Author Name :Sunil Hebbalkar
Contact center software market to accumulate substantial gains from retail applications, global industry to witness a double-digit CAGR over 2018-2024
Owing to the increased focus on customer service and digitization of processes across numerous industry sectors, the contact center software market registered revenue worth USD 14 billion in 2017, driven by the demand for efficient customer handling solutions. Massive investments have been made by companies to upgrade contact centers to more productive and cost-effective software-based facilities for coordinating services among different channels. This has eventually allowed many emerging technology companies to tap into the services sector. Increasing adoption of online services by BFSI, telecom and hospitality consumers has transformed the contact center software industry with the need for ensuring quick and accurate responses.
Europe Contact Center Software Market Share, By Software, 2017
Rising consumer spending on electronics, clothing and other product categories has tremendously bolstered the retail segment worldwide, propelling the contact center software market revenue globally. Reports show that consumers rate customer service in retail sector higher than low prices and product quality, making it the most important part of the businesses retailers should be focusing on. Good customer service leads to more recommendation from consumers, which directly boosts product sales. Subsequently, retail is an ideal application base for the contact center software market, helping companies provide timely and dedicated service for taking care of any problems the customers communicate.
Major retail brands have employed contact centers to handle hundreds to thousands of queries, frequently asked questions and complaints they receive throughout their worldwide businesses. As these centers start to provide services like billing and telemarketing in addition to customer service, the contact center software industry will experience challenges from coping with enormous amounts for customer requests and data analysis. The advent of ecommerce retail has further given a remarkable boost to digital services, connecting more consumers with businesses and creating a demand for higher number of customer contact executives.
In 2017, the global ecommerce retail sales amounted to about USD 2.3 trillion, out of which world’s top three e-retailers contributed nearly USD 100 billion. This includes Amazon.com, which operates 13 country-specific websites and services at least 16 countries in all, including the U.S., U.K., India, Germany, Spain, France, among others. The vast ecommerce operations of Amazon indicate the probability of customer service requests from millions of people from diverse cultures, as it sells thousands of products in each country every day. Various other local and international e-retail platforms face similar concerns, offering outstanding growth prospects for the contact center software market from hundreds of online businesses.
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According to statistics, there were approx. 1.66 billion digital buyers around the world in 2016, representing the extensive customer service difficulties and opportunities e-retailers have to deal with. These businesses have to cater to several requests via tele calling, email, mobile text messages as well as social media, since it is impossible for all customers to communicate with them on the same platform. Receiving requests, identifying problem areas and providing solutions to consumers across these distinct channels has defined the contact center software industry’s evolution over the years, further intensified by the growing utilization of online payment options.
Over the years, technological advances have enabled wider implementation of virtual assistants and interactive voice features by retailers, allowing software makers to provide innovative solutions. The contact center software market has further benefited from the growing awareness among retailers about the role of analytics and reporting in guaranteeing improved customer experience. Managing customer-employee interaction, behavior, customer requirements have critical impact on business revenues. Speaking further on the analytics and reporting component of the contact center software industry, retailers can reduce potential loss of sales and negative consumer responses by analyzing how they are being serviced.
As the time taken to handle a request, origin of the request, behavior on the call and other factors are recorded by the software, companies can use the information to train their staff better. The success or failure of email and telemarketing campaigns can also be analyzed to enhance or modify their processes, as consumer trend is key for retailers to achieve profits. Essentially the retail segment, with expanding popularity of ecommerce, is expected to contribute significant revenues towards the global contact center software market. Global Market Insights, Inc., forecasts the overall contact center software industry to surpass a valuation of USD 40 billion by 2024.
Author Name :Pankaj Singh
Multi-touch equipment market to register double-digit growth rate over 2018-2024, increasing adoption of smartphones and laptops to fuel the product demand
The rapidly transforming interface technology and the on-going advancements in product design have been propelling multi-touch equipment market trends. The emergence of high-definition graphics along with the advent of new technologies such as IoT and artificial intelligence have also had a positive influence on the product development. The ease of application and design integrity of multi-touch devices has encouraged most of the end-users to adopt this next-generation transformation. Most of the consumer electronic product manufacturers, automakers, and several other industries have been inventing touch displays for real-life products. Depending upon the consumers’ approach toward the acceptance of such a computing interface, the players in the multi-touch equipment market have been unveiling a diverse portfolio of varied products. The growing availability of highly advanced touchscreen devices will thus have a considerable influence on industry growth over the years ahead.
Germany multi-touch equipment market size, by application, 2017 & 2024 (USD Million)
The launch of newly designed and multi-functional electronics equipment installed with touch systems will turn out to be rather beneficial for the contributors in the multi-touch equipment industry. A few days ago, Ideum launched a smart coffee table with integrated touch systems. In the Pico smart coffee table, it has installed an 8th generation graphics card and advanced touch technology that supports nearly 80 simultaneous touch points. This newly developed touch coffee table enables a user to automate the varieties of system tasks with the help of RFID software utilities. The surging requirement of such smart tables in schools, libraries, waiting rooms, corporate offices, and the retail sector is likely to propel the product demand on a large scale.
In another instance, a leading OEM, Smartron has launched a next-generation multifunctional laptop with a multitouch feature in India. It is noteworthy to mention that India has been emerging as one of the largest markets for consumer electronics across the globe, and the launch of such advanced computing context devices will help consolidate its stance in the global industry. With the development of such multitouch supported devices, companies have been trying to modernize the functionality of electronic devices. The increasing demand for mobiles, smartphones, and numerous electronics gadgets with touch screens across India will also propel the multi-touch equipment market size. Consumers giving preference for the products integrated with such touch screen technologies has been encouraging designers to deploy touch displays into their products.
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Nowadays, in order to attract more consumers, most of the companies have been tapping the latest technology trends such as the Internet of Things and artificial intelligence. On these grounds, product manufacturers have been signing long-term agreements with technology companies. For instance, recently, Microsoft announced its plan to launch an IoT and Intelligent Edge solution for its device partners. The newly developed device integrated with multitouch collaboration tools can be incorporated in MS Office and other Microsoft team applications. The advanced version of products having IoT spatial intelligence capabilities will help end-users tap the environmental data and enhance the users’ experience. The increasing use of touch displays to boost the product performance and operational capability is thus likely to promote multi-touch equipment market share.
Over the last few years, in order to resolve the design related problems of product development engineers, several companies have been continuously involved in the development of touch encoders. Recently, Grayhill, Inc., introduced a touch encoder development kit for the engineers who are looking forward to replacing traditional user input devices with multi-touch gestures. The development of the touch encoder kit has apparently helped software engineers configure the device very easily. The increasing availability of advanced design and customer friendly electronic devices will thereby have a considerable impact on the growth of multi-touch equipment industry outlook.
The escalating use of infotainment systems in the vehicles along with the surging deployment of multi-touch equipment in TVs, smartphones, laptops, and tablets are the most pivotal driving forces influencing the commercialization landscape of multi-touch equipment market. Heavy investments in R&D activities to modernize the existing product ranges also will push the industry trends ahead. For the record, multi-touch equipment market size is slated to be pegged at an appreciable USD 20 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Marine selective catalytic reduction systems market to be characterized by a stringent regulatory landscape, China to exhibit fair investment opportunities for potential shareholders
The global marine selective catalytic reduction systems market, in the recent years, has been witnessing strong investment trends by the major stakeholders, given the stringent environmental regulations in protecting human and aquatic life. Large amount of emissions pertaining to marine polluting substances and amendment of strict regulations regarding the same have in fact raised the bar for marine selective catalytic reduction systems industry players to bring in more advanced diesel engine designs that are capable of minimizing marine pollution. These SCR systems, designed to curtail nitrogen emissions, are thus gaining traction in the recent years and have significantly taken the marine industry by storm.
Europe Marine Selective Catalytic Reduction Systems Market Size, By Application, 2017 & 2024 (USD Million)
Introduction of IMO Tier III legislation to act as a major catalyst for rapid marine SCR systems market growth
An important factor which stood as a major growth promoter for the overall marine SCR systems industry is the enforcement of The Tier III NOx emissions regulations (IMO3) of the International Maritime Organization that came into power in 2016. According to reports, the recent IMO3 legislation has been forcing the engine manufactures to achieve a NOx reduction of more than 70% from Tier II for all the ships sailing in the NECA (NOx Emission Control Areas). The selective catalytic reduction technology in this regard has been gaining immense momentum as it was being able to operate as the standalone technology that reduced as much as 80% of NoX. The SCR system’s compliance with the IMO3 has thus elevated the business landscape of global marine selective catalytic reduction systems market, and is further expected to proliferate across the coastal waters of U.S., Canada, and China – where the legislations are enacted more severely.
China to emerge as a lucrative investment hub
The Chinese Ministry of Transport, recently in July 2018, has published new requirements with a target to limit NOx emission for the second-hand imported & Chinese-flagged diesel engine vessels. According to the regulations these engines are required to comply with the IMO3 norms and will be applicable to vessels that are converted or imported for domestic trade after September 1 2018. These new NOx emission control requirements have paved the way for robust commercialization of SCR systems in China. Moreover, the rapid growth in the long-distance and international voyage and the rising inter-border trade activities has further fortified the regional product demand. In response to these mandatory protocols, China marine selective catalytic reduction systems market size is anticipated to register a CAGR of 3% over 2018-2024.
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Further considering the geographical expanse, it is imperative to mention that, thriving on the cusp of fierce stringency in regulatory framework, the U.S. marine SCR systems industry is also expected to be one of the lucrative regions for business expansion. In addition, ongoing technological advancements in the commercial & recreational marine vessels and the presence of core industry manufactures in the country are foreseen to further complement the regional growth in the ensuing years.
Further speaking on the competitive scenario, it wouldn’t be wrong to say that the sustainability and go-green trends are also vividly characterizing the marine industry vertical and impelling the prominent companies to adopt necessary market growth strategies for business proliferation. An apt instance standing as a substantiation to the aforesaid is that of Cummins Inc., that has recently introduced its new IMO3 certified QSK60 engine package that offers cleaner emissions. If reports are to be believed, the company has added selective catalytic reduction systems to meet the new emissions standards without impacting the fuel economy. Endorsed with similar product innovation and business expansion trends, several other industry players including Wärtsilä, Tenneco, DEC Marine, Mitsubishi, Hyundai, and ME Production are also seen ramping up their positions in the global marine selective catalytic reduction systems market.
All in all, it would be apt to quote that stringent regulatory protocols and highly innovative product development with technological advancements are to remain the two prominent drivers majorly shaping the business trends in the years ahead. In terms of remuneration, the global marine selective catalytic reduction systems market size is forecast to exceed a valuation of over USD 5 billion with annual installations surpassing 3,000 units by 2024.
Author Name : Ojaswita Kutepatil
Unveiling APAC smart water metering market with regards to the regional frame of reference: adoption of IoT-driven smart water metering solutions to drive the industry expansion
Asia Pacific smart water metering market is expected to make remarkable inroads in the global smart technology space, primarily pertaining to the increasing deployment of smart infrastructure in the utility sector. Lately, there has been a rapid expansion in advanced water metering technology, especially in the developed economies of the Asia Pacific, given that smart water meters consist of a two-way communication or drive-by reads that provides utility companies with an additional connection to be offered to customers. In addition, a smart water meter can better understand water quality and distribution parameters, thereby enabling service reliability and efficiency across the electricity, water/sewer, natural gas, and oil sectors. These factors have naturally led to improved financial benefits to the utility industry as well as enhanced satisfaction for customers, providing a viable base for the expansion of APAC smart water metering market.
China Smart Water Metering Market Size, By Application, 2017 & 2024 (USD Million)
Asia Pacific, being a powerhouse of the manufacturing and construction sectors, has been the recipient of exorbitant electricity bills since quite a while. Indeed, the per capita consumption across some of the Asian nations has been reported to be among the highest across the globe. It is thus rather overt, that the deployment of advanced smart water meters, that have reportedly given water utilities accurate and timely data that better help serve their customers and also offer additional tactics for conserving water, thereby lowering water bills, is extremely crucial for the continent.
Due to rapid advancement in the water metering industry, utilities across the APAC now use cloud based IoT and analytics driven smart water metering solutions that potentially help end-use industries and consumers in making better decisions towards the conservation of natural resources. In addition, big data technology has also led to managing industry related challenges such as identify performance related issues, improving customer service and recording trends of events, eventually enabling industries experience the benefits of reduced operating costs and better prioritized infrastructure investments. Powered by the robust deployment of big data enabled water metering solutions, APAC smart water metering market is projected to experience substantial momentum ahead.
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APAC smart water metering market to accrue hefty proceeds from China
China is expected to emerge as one of the most pivotal revenue grounds for APAC smart water metering market, particularly on account of the extreme water scarcity and the poor quality of water in the country. The issue is vividly being addressed by the government by means of active promotional programs in tandem with the implementation of digital devices.
Reports claim that Chinese government, in its 12th & 13th five-year plans, has launched the smart city investment hub to propel the deployment of smart water and electricity meters across the country. Powered by the support of government authorities, APAC smart water metering market size from China is anticipated to grow at a CAGR of 15% over 2018-2024.
India to be a prominent revenue pocket for APAC smart water metering market
APAC smart water metering market size from India is projected to grow at an appreciable pace in the ensuing years, driven by the aging commercial infrastructure in the nation. Not to mention, India, for the longest time, has been remnant of leakage issues and non-revenue water loss. That said, the ever-expanding populace of the country is also responsible for the growth of the regional industry. Sources predict that by 2050, almost 70% of total Indian population will reside in its urban cities. With shrinking water reservoirs, low rainfall, and high population density, fulfilling the region’s water requirement has emerged as quite a challenge. In the face of this ordeal, the adoption of smart water meters equipped with sensors that deliver real time monitoring could help identify and reduce water leakages and water wastage considerably.
The APAC smart water metering industry size from India will also be aided by a plethora of supportive regulations that intent to replace existing meters in the country. The Indian government’s smart city programs are also expected to help propel the deployment of smart water meters in the nation. Indeed, in 2015, the government of India, under its Smart Cities Mission, declared that it plans to set up 100 smart cities, in the consideration of which the cabinet has already given the green signal for a funding of USD 13 billion. Aided by a favorable regulatory spectrum and the proposed large-scale urbanization, APAC smart water metering market size from India is anticipated to increase in the years to come.
Major players across the Asia Pacific smart water metering market include Schneider Electric, Honeywell Elster, Siemens, Badger Meter, Aclara Technologies, Diehl Metering, Arad Group, Kamstrup Metering Solutions, Sensus and Jiangxi Sanchuan. The adoption of tactics such as collaboration and acquisitions with leading tech providers has helped industry players provide high-grade and cost effective smart metering technologies to customers. Powered by the deployment of cloud IoT, big data and analytics, the issues surrounding water bill management and unwanted leak avoidance are being suitably dealt with, in the emerging APAC economies. As per reliable estimates, APAC smart water metering market size, by the end of 2014, is likely to cross an annual installation of 6 million units.
Author Name : Mateen Dalal
Simultaneous localization and mapping (SLAM) technology market to register 75% CAGR from mining applications over 2018-2024, rising adoption of robots to impel the industry expansion
Owing to the rapid adoption of advanced technologies by diverse industrial sectors, the simultaneous localization and mapping (SLAM) technology market has been witnessing gradual increase in demand over the last decade. Unprecedented growth in digital and remote communication technology has accelerated the development of robots and UAVs, which are ideal for installing sensors and mapping systems. The eagerness of core industries to utilize modern technology for replacing human workforce in hazardous or time consuming tasks has further pushed the SLAM technology market penetration. Constant innovations in robotics are providing more opportunities to integrate new systems that help in achieving cost-efficiency across distinct processes, boosting demand for the global SLAM technology market, which registered a valuation of over USD 56 million in 2017.
Singapore SLAM Market Share, By Application, 2017
Growing automotive and manufacturing segments have not only deployed collaborative robots that assist in assembling products but also autonomous robots that roam factory floors and have to face a number of human and stationary obstacles during operations. The need for accurately handling objects and moving across the floor has brought the SLAM technology industry into limelight. Various tech firms have cropped up throughout the world, developing more precise mapping solutions to complement existing and new localization systems. These can be incorporated within robots for purposes like surveying and moving objects from one place to another on congested surroundings. Increasingly declining costs of manufacturing robots will certainly boost their presence in several industry verticals, presenting tremendous growth opportunities for the SLAM technology market.
The International Data Corporation had projected that by 2021, the spending on robotics worldwide would reach USD 230.7 billion, driven by increased utilization in areas such as manufacturing and resource industries, besides healthcare, education and retail. The resource industry, consisting of mining, oil & gas and agriculture has the potential to become a key target segment for the SLAM technology market. Mining, in particular, offers immense prospects for the use of new technologies as it is a business filled with dangerous exposure for humans, and requires a lot of capital to carry out mining operations. Inaccuracy of underground maps pose serious threats to the safety of miners and robotic exploration is seemingly a more feasible option in regard to this.
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In the imminent future, integrating simultaneous localization and mapping technology with autonomous mobile robots would be an effective way to build accurate 3D maps of underground mines, helping to plan the overall operations. Aside from mining robots that would replace humans in hazardous environments, companies are also building robots that would work alongside people to assist them in analyzing quality of ore samples, carrying loads and other necessary devices. The SLAM technology industry will consequently experience a prolific growth rate over the next few years, with solutions being developed to automate mining activities. Key factors for the industry propagation would definitely be elimination of safety hazards, reduction in overall costs and time saving.
Benefitting from higher commodity prices, the top 40 mining companies globally had recorded earnings of nearly USD 496 billion in 2016, demonstrating the massive scale of mining activities and the potential to improve bottom lines. As old mines get exhausted, these companies are expected to start exploring new mines to keep the mineral supply flowing, indicating the possibility of significant expansion for the SLAM technology market. For instance, the Victoria Gold’s Eagle mine, under development in Canada, would become the biggest mine in the territory of Yukon with production anticipated to at 12.5 million tons per year across a 10-year life span. Further, the USD 2.9 billion South Flank iron ore mine in Australia being constructed by BHP is slated to commence production in 2021 and supply ore until at least 2046.
With many such mines being explored to fulfil the global requirement of essential minerals like copper, gold, silver, coal and uranium, the SLAM technology market could establish a strong hold due to the need for safe mapping of underground mines as well as open quarries. Increasing production of consumer electronics has elevated the demand for minerals like silver, strengthening the global mining industry. The SLAM technology market is expected to grow at a CAGR of 71% over 2018-2024, influenced by the rising need for mitigating safety risks and improving bottom lines.
Author Name : Pankaj Singh