Sustainable & Smart Technologies
Electronic shelf label (ESL) market to witness increased demand from commercial applications over 2018-2024, rising number of technologically advanced innovations to alter the industry dynamics
Increasing availability of automation solutions for the commercial sector has boosted the electronic shelf label (ESL) market revenue, which surpassed USD 450 million globally in 2017 in conjunction with the growing number of retail outlets. Products such as groceries or seasonal fruits can witness price fluctuations while the stacking of new products also raises difficulties for retail staff to manage and update the pricing tags. The necessity to save time and energy spent for inventory management at stores with a large number of items has directed businesses towards the electronic shelf label industry. ESLs not only allow for prices of various goods to be set quickly and simultaneously, but also offer accuracy and flexibility. The ever increasing customer base, the rising penchant for spending on consumables worldwide and the need for improving the bottom line of businesses will generate massive gains for the electronic shelf label market from the commercial segment over the coming years.
Germany ESL market size, by product, 2017 & 2024 (USD Million)
According to a key ESL manufacturer, replacing paper labels with the electronic ones could experience cost savings of up to 60%, while adopting a more responsive pricing method and creating a modern brand image. The electronic shelf label market will see tremendous demand from big supermarket and hypermarket companies for eliminating manual errors in updating prices, freeing up the staff’s time to increase productivity and to implement strategic pricing decisions. Groceries from a major part of everyday spending by billions of people around the globe, and supermarket chains undergo daily shelf rotation of essential items. In 2017, it was found that there were a total of 38,581 supermarkets in the U.S., indicating the growth potential for the electronic shelf label industry.
The International Grocery Research Organization has projected that the global grocery retail market will be adding sales of nearly USD 2.7 trillion by 2022, driven by growing population and higher spending on grocery products. Subsequently, multinational hypermarket chains have targeted global expansion for catering to the incessant demand for groceries as well as non-food retail items. SPAR, for instance, has been able to build lean practices and supply chain networks, and has over 12,500 stores in 44 countries throughout 4 continents. The company has been known to use ESLs for guaranteeing efficient pricing integrity and reducing costs, while letting consumers take advantage of visible prices for all kinds of products. SPAR has demonstrated the immense benefits to be accrued from switching to ESLs for product display, inventory management and warehousing, propagating the scope of the electronic shelf label market for the commercial segment.
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Companies have increasingly found it easy and affordable to integrate smart technologies into their retail businesses, where IT teams can deploy relevant systems to enhance the future of the business. Electronic retail brand have particularly found ESLs useful in enhancing store experience and executing pricing promotions or rolling out offers to customers. New York’s B&H Photo and Video is one such company which took advantage of the booming electronic shelf label industry, by installing three-color fully graphic ESLs to align pricing and promotions in a fast and accurate way. Managing ESLs centrally and securely through an enterprise platform wirelessly, B&H could program computers such that products can be scanned and mapped accordingly, making sure the right labels are updated at the right time.
Further innovations in the electronic shelf label industry will initiate the product penetration into less modernized commercial businesses, where people will realize the need for speedy product identification and pricing. To elaborate, the Findbox solution being offered by ESL specialist French company SES-imagotag represents a new take on making shopping easier and more convenient for consumers. When a used product is placed in Findbox, the system recognizes the right product and locates it on the store shelves, where LED on the digital price tags start flashing. As a result, customers can save precious time in searching several shelves and aisles and find the product they want to buy or replace, while displaying the correct and updated prices. The company has claimed its Findbox can automatically recognize products within 3 seconds and updates can be made in less than 1 second.
With the rising frequency of innovations in connectivity, IoT and smart technologies, the electronic shelf label market can be expected to transform significantly, supported by better accessibility to AI and cloud-based services. SES-imagotag, LG Innotek, M2Communication, CEST, Displaydata, Price AB and Teraoka Seiko Co. Ltd. are come key participants in the global electronic shelf label market, which is projected to exhibit a 13% CAGR from 2018 to 2024.
Author Name : Pankaj Singh
Worldwide Automated Fare Collection (AFC) System market outlook: Transportation Infrastructure to drive the industry dynamically over 2016-2023
The growing adoption of electronic payments and integrated ticketing system across the globe will stimulate automated fare collection (AFC) system market trends. According to Global Market Insights, Inc., “Global Automated Fare Collection (AFC) System market worth USD 4.51 billion in 2015, will exhibit an annual growth rate of 10.4% over the period of 2016 to 2023.” Transportation infrastructure will drive AFC system industry extensively, as it is used for maintaining customers log, estimating best fare calculation and to check relevant discounts. The implementation of AFC system across the various sectors such as transportation will offer benefits like improved revenue management and fraud prevention.
UK automated fare collection system market size, by technology, 2012 – 2023 (USD Million)
Automated fare collection system industry comprises technologies such as optical character recognition (OCR), magnetic strip, near field communication (NFC), and smart cards. OCR technology is extensively used to generate receipts and tickets. The near field communication technology is projected to record a CAGR of 12.3% over the coming six years, owing to the high demand for this technology owing to its high degree of compatibility. In addition, NFC is a user-friendly technology, which will add benefit over other alternatives such as QR codes and BLE (Bluetooth low-energy). Smart card accounted for 30% of the worldwide automated fare collection system market revenue in 2015 and will display eye-catching growth opportunities over the coming timeline. The smart cards offer favorable features such as portability, low complexity, and reliability, which influence the industry trends considerably.
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Based on the component, AFC industry is mainly segmented into hardware and software. The hardware segment worth more than USD 2.2 billion in 2015, is expected to witness a CAGR of 10.4% over the period of 2016 to 2023. To reduce the complexity as well as to improve the efficiency of the AFC system, software-based technical support has deployed by the software developers and firms which will provide software development kits, database management systems, middleware, mobile platforms, server solutions. Many of the transportation agencies are increasingly looking for software based AFC system, which will stimulate software automated fare collection system industry size lucratively.
Geographically, Asia Pacific automated fare collection system market will collect a revenue of more than USD 2.5 billion by 2023, owing to the escalating transit projects across this region. China and India will be the major revenue contributor.
North America automated fare collection system market was predominantly driven by U.S in 2015 and is anticipated to continue its dominance over the coming years. U.S. AFC system industry size will grow significantly by registering a CAGR of 9% over the coming six years. The growth can be attributed to the mounting intelligent transportation system market (ITS), which is anticipated to surpass a revenue of USD 45 billion by 2023.
The market players will invest heavily in the R&D activities to meet customer needs as well as to improve product range over the coming years. The collaboration and joint venture are some of the key strategies adopted by the industry participants to gain enhanced business share. Cubic Systems, Thales Group, Samsung, LG, Omron Corporation, Advance Card Systems, NXP Semiconductors, and Atos are some of the leading companies in the AFC market.
Author Name : Sunil Hebbalkar
Solar Cells Market Outlook: Global measures to reduce environmental pollution and enhance power efficiency to boost the industry growth over 2016-2024
Strict legislations to check environmental pollution along with high popularity of clean fuel technologies is expected to push solar cells market growth over the next few years. Moreover, favorable government policies promoting solar cells installations as a part of its energy conserving initiative/strategy along with it being an effective tool for electricity/power generation, will spur the industry growth. High demand for off grid electricity plus diminishing costs of solar cell components, is projected to drive the market trends over the coming timeframe. According to Global Market Insights, Inc. research study, “Solar cells market size is expected to record significant gains of 12% over the period of 2016-2024.” Effective measures to provide uninterrupted as well as clean power supply to off-grid and remote locations having poor access to electric supply, is anticipated to significantly drive the solar cells industry growth.
U.S. Solar Cells Market size, by product, 2013 -2024 (USD Million)
Based on the technology trends, solar cells market is classified into thin film cells, crystalline silicone cells, and ultra-thin film cells. Thin film solar cells industry, valued at over USD 8 billion in 2015, is expected to experience a significant growth over the coming years, owing to its efficient functioning ability. Crystalline silicone cells technology is projected to register a considerable growth over the coming seven years, driven by its lower component costs. Ultra-thin film solar cells market value, worth USD 3 million in 2015, is expected to witness a lucrative growth over the coming seven years as a result its high efficiency & lightweight features.
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Solar cells find extensive applications across residential, utility, and commercial sectors. Rising popularity of standalone systems along with heavy demand for rooftops are expected to boost the industry growth across residential sector. Solar cells industry size in the commercial sector is expected to grow considerably over 2016-2024, driven by a great urge for generating clean and reliable power.
Considering the product trends, the industry is segmented into Cadmium Telluride, Polycrystalline, Copper Indium Gallium Diselenide, Monocrystalline, and Amorphous Silicon. Polycrystalline solar cells market revenue is anticipated to grow noticeably over the next few years, driven by lower costs coupled with its enhanced use across commercial and residential sectors.
Below are the regional highlights pertaining to solar cells industry over 2016-2024
- Rising preference for using renewable energy along with stringent measures towards reduction of GHG emissions has contributed considerably towards Europe solar cells industry growth. UK is expected to be a major regional revenue contributor.
- North America solar cells market will experience an impressive/notable growth over the coming years, led by strict rules to reduce power consumption along with preservation of green environment. U.S. is forecast to be a key regional revenue pocket.
- Government schemes promoting sustainable energy use along with favorable policies such as tax benefits as well as net metering are expected to accelerate Asia Pacific solar cells industry growth over the coming years. China, Australia, and India are projected to drive the regional growth.
- High requirement for off-grid power supply is expected to drive MEA solar cells market size considerably over the next few years, with South Africa expected to make significant contributions towards the regional share.
- LATAM solar cells industry is predicted to observe a high surge over the coming seven years, driven by high application/use of the solar cells technology across rapidly expanding utility and commercial (construction) projects. Brazil and Chile are expected to contribute heavily towards the regional revenue.
Key industry participants include Mitsubishi Electric Corporation, SunPower Corporation, Yingli Solar Energy Company, Jinko Solar Photovoltaics Company, Moser Baer India Limited, Trina Solar, First Solar Inc., Sunedison Inc., Tata Power Solar Systems Limited, SolarWorld Photovoltaics Company, GreenBrilliance, and Indosolar Company.
Author Name : Dhananjay Punekar
Graphene Battery Market Outlook: Growing trend of Electric Vehicles to build a profitable industry roadmap
The growing trends of portable electronic devices and increasing electric vehicle demand will proliferate the graphene battery market growth in the coming years. According to Global Market Insights, Inc. “Graphene battery market size is estimated to witness a CAGR of 20% over the period of 2016-2024.” Graphene products are regarded as low emission versions and hence are being widely adopted to promote a green environment. Moreover, its advantages such as effectiveness in high temperatures, increased charge cycles, quick charging capacity, and extended charge holding capacity will enhance the graphene battery industry outlook over the coming years.
Europe Graphene Battery Market size, by application, (USD Million), (2014 – 2024)
Stringent regulatory norms to curb emissions and carbon footprint have positively influenced the graphene battery industry share. Batteries constitutes of lead and cadmium which releases pollutants in the environment. In this regard, in 2008, the U.S. EPA established the National Emission Standard for Hazardous Air Pollutants (NESHAP) to regulate the emissions during the battery manufacturing process. Furthermore, implementation of these strict norms to limit automobile emissions will also boost hybrid and electric vehicles demand.
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Graphene battery is one of the fastest energy storing solutions available, globally. Moreover, graphene has higher heat resistance with improved recharging efficiency making them a safer option for electric vehicles. Graphene is poised to change the future of batteries with 10x faster charging and making it more reliable, efficient, and strong.
Based on technology, the graphene battery market is segmented into Lithium Ion, Lead Acid, Lithium Sulfur, and Supercapacitors. Supercapacitors are overtaking the market due to its superior charging abilities and greater shelf life. Moreover, mobile manufactures are also widely adopting the supercapacitors for increasing operating battery life, which in turn is fueling the supercapacitors graphene battery industry share.
The beneficial properties of graphene are making it a promising material for a multitude of applications. The versatile use of graphene batteries in Automotive, Aerospace & Defense, Healthcare, Electronics, and Industrial Robotics industries has generated significant growth opportunities in graphene battery market. Aerospace & defense applications are likely to observe considerable growth with increased defense expenditure in developed nations.
Below are the key insights in terms of technology, applications, and regions pertaining to the global graphene battery industry trends.
- Graphene battery industry share from supercapacitors is anticipated to register a CAGR of 25% over the period of 2016-2024.
- Lithium ion battery segment worth USD 9 million in 2015, is projected to witness a significant growth, owing to its increasing adoption in healthcare and automobiles industry.
- UK is foreseen to witness a booming growth at over 20% over 2016-2024.
- Graphene battery industry share in healthcare sector is estimated to exceed USD 25 million by 2024. The business growth is favored by increasing emphasis on portable medical devices.
- Industrial robotics application will witness an annual growth rate of 10% over 2016-2024.
- Japan graphene battery market size is predicted to grow at over 25% over the period of 2016-2024. The growth can be attributed to increasing adoption of electric vehicles for public transport.
Taking into consideration the regional outlook, Asia Pacific market is set to grow significantly, subjected to heavy gains from Japan and China graphene battery market. China will observe considerable boost in manufacturing and production capacity, surpassing 2000 tons of graphene annually from 2016. Favorable government initiatives and introduction of strict regulations on the use of bio-hazardous batteries will bring positive impact on the growth of global graphene battery market. Increasing adoption of electric vehicles in the U.S. will drive the North America graphene battery industry revenue. Norway graphene battery market share will witness heavy gains as more than 20% of automobiles in Norway are hybrid or electric vehicles.
The notable industry players of graphene battery market worldwide are Cabot Corporation, XG Sciences, Inc., SiNode Systems, Inc., NanoXplore Group Inc., Graphenano, Graphene NonoChem, Graphene 3D Lab, Cambridge Nanosystems, etc. Cost-effective products and shorter delivery lead time will be the key business strategies adopted by the market participants over the coming years.
Author Name : Ojaswita Kutepatil
Energy Management System (EMS) market outlook: Depleting non-renewable energy resources to boost the industry demand, Trends & Forecast- 2024
The growing concerns about greenhouse gas emissions along with rapid industrialization will propel energy management system (EMS) market trends over the period of 2016 to 2024. As per the report by Global Market Insights, Inc., “Global Energy management system (EMS) industry will witness an annual growth rate of more than 13% over the coming seven years.” The depleting non-renewable energy sources has threatened the environment sustainability. Governments across various countries are taking vigorous steps towards the use of renewable energy sources and are emphasizing on energy conservation, which will in turn boost the demand for energy management system.
Europe Energy Management System Market size, by component, 2013 – 2024 (USD Billion)
Energy management system component comprises software, hardware, control system, metering & field equipment, sensors, networking device. Sensors accounted for more than 10% of the overall energy management system market share in 2015 and is anticipated to grow noticeably over the coming years. In 2015, metering & field equipment EMS exceeded a revenue of USD 2 billion. Following usage and application of metering & field equipment will generate heavy revenue over the coming timeframe,
- To measure total electricity consumption along with consumption pattern and operating cost
- It balances the total supply with consumption, thereby improving total network efficiency
Furthermore, control EMS industry will surpass a revenue of USD 3 billion by 2024, mainly driven by its capability to maintain essential environment factors such as pressure, temperature, ventilation, and humidity in a cost- effective manner.
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Buildings, industries, and homes are the some of the major service segments of the energy management system market trends. Building energy management system (BEMS) market collected more than 19% of the total industry share in 2015. Some of the factors will impact positively on BEMS industry growth as mentioned below,
- Increasing demand for smart buildings, owing to the rising awareness about carbon footprints
- Extensive use of this system in the buildings to control, monitor, and manage energy consumption
Industrial energy management system (IEMS) market surpassed a revenue of USD 9 billion in 2015 and will grow notably over the coming years, owing to its mounting usage to monitor & analyze load fluctuation, real time consumption, and equipment performance.
Home EMS industry size will exhibit an annual growth of more than 16% over the period of 2016 to 2024. The growth can be attributed to government support in terms of financial subsidize to purchase trademark products.
Based on the regional landscape, Japan EMS market share contributed towards 20% of the global revenue in 2015 and is predicted to grow considerably over the coming timeline, due to the rising awareness about GHG emissions coupled with shifting dependency on imported fuel.
U.S. energy management system industry will exhibit a substantial growth rate of over 11% over the coming seven years, owing to government initiations towards energy conservation across this region. China EMS industry is expected to grow noticeably, surpassing a revenue of USD 2 billion by 2024. The attributing factor towards the regional market growth is surging demand for reliable electricity and escalating industrialization.
As per the study, Europe energy management system market share will surge significantly, mainly contributed by Germany, UK, and Italy. The government initiatives regarding energy efficiency will boost Germany EMS market size over the coming years. UK accounted for more than 20% of the overall regional share in 2015 and will observe substantial growth, driven by the fuel scarcity.
Brazil EMS market worth over USD 300 million in 2015 and is expected to register eye-catching growth, which can be attributed to the growing adoption of smart technologies to conserve energy.
Qatar accounted for over 5% of the total regional revenue of the Middle East energy management system industry in 2015. The growing population and rapid industrialization will affect considerably on the regional growth.
The mounting demand for reliable electricity will generate heavy opportunities for market players over the coming years. Few notable industry participants include General Electric Corp., Honeywell International Inc., Schneider Electric, Eaton Corporation, ABB, Emerson Electric, Siemens AG, and Johnson Controls.
Author Name : Sunil Hebbalkar
Increasing demand for light weight, compact, and portable products have spurred the growth for thin film battery market. Internet of things has contributed towards a great deal in regards with increasing application of thin film battery in phablets and smartphones coupled with its utilization in sensor networks. Rising standard of living with high disposable incomes will generate increased adoption for wearable devices including watches, smart fabrics, fitness trackers, and glasses and will in turn favor the thin film battery industry trends. According to Global Market Insights, Inc., “Thin Film Battery Market size worth USD 200 million in 2015, is estimated to grow at a CAGR of 25% over the period of 2016-2024.” The various benefits allied with the use of thin film battery in electronics include lower cost, less weight, higher energy density, and smaller footprint.
UK Thin Film Battery Market size, by application 2013-2024 (USD Million)
The chargeable and disposable battery are the two-major product categories of the thin film battery industry. Chargeable batteries are suitable for wireless sensors networks and have accounted for over 40% of the overall industry revenue in 2015. The other type, i.e. disposable thin film battery acts as energy source for semi-battery-assisted passive RFID, greeting cards, toys, consumer music, semi-active tags with sensors, and one-time password display type smart cards. Disposable thin film battery market is estimated to register a CAGR of 20% over the period of 2016-2024.
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The ability of thin film batteries to perform better makes its adoption more common in medical devices, wearable electronics, consumer products, smart cards, RFID, sensors, and backup power applications. Increasing number of mobile users along with rising adoption of smart cards, SIM cars, EMV cards will stimulate the thin film battery industry share. The smart card application is projected to surpass USD 130 million by 2024. These batteries also find important application in security systems, as RFID and sensors are used to monitor risks related to cyber security and financial crimes augmenting the thin film battery market outlook.
US thin film battery market worth USD 70 million in 2015, is anticipated to witness heavy gains due to increasing adoption of EVM chip card technology. By 2018, over 95% of credit cards would be enabled with EMV chip which will create huge opportunities for regional growth. Furthermore, Brazil thin film battery market will also witness promising growth, owing to increasing implementation of EVM chips to minimize payment scams.
Backup power is another lucrative area of application where thin film battery finds immense application, owing to increasing demand for uninterrupted power supply and rapid growth of wireless communication system. Thin film battery industry demand from backup power is anticipated to register a CAGR of 20% over the period of 2016-2024. Moreover, medical device applications will witness heavy gains, owing to increasing adoption of throw-away medical equipment.
Asia Pacific thin film battery industry is anticipated to witness significant growth due to heavy regional demand for wearable devices and increase in per-capita income in countries such as China, South Korea, and Japan. China thin film battery market size is estimated to surpass USD 100 million in coming seven years.
Few of the notable industry players are Excellatron Solid State LLC, STMicroelectronics, BrightVolt Inc, Imprint Energy Inc, Cymbet Corporation, Enfucell Oy, Blue Spark, and FlexEl.
Author Name : Ojaswita Kutepatil
North America intelligent virtual assistant (IVA) market to accrue appreciable returns by 2024, speech recognition technology to gain momentum
The escalating demand for rapid query resolutions & online customer self-service are expected to propel intelligent virtual assistant (IVA) market alongside the path of progress. IVA has undoubtedly, in recent times, improved the users’ online service experience as well as offered increased sales to e-commerce firms. Indeed, the product is becoming the preferred medium to gain information, make purchase decisions, and resolve issues. Companies like Microsoft and Google are adopting the technology to improve ease of access and streamline activities, and increasingly implementing the technology as well to enhance operational efficiency. For instance, ABIe, a virtual assistant developed by EIS for Allstate Insurance, efficiently helps agents to answer questions regarding business insurance policies.
Germany IVA market size, by application, 2017 & 2024 (USD Million)
IVA is reportedly becoming more and more commonplace as consumer appetite for the product has been depicting an upsurge. According to an independent survey conducted with 1,500 consumers across Europe, 81% of the respondents said they would prefer interacting with a virtual assistant as it offers enhanced online customer experience. Close to 72% welcomed the product as a key part of every website while a similar proportion claimed that they would spend longer on a website that had one. This response can undeniably be credited to the fact that IVA can take on multiple roles on a website, such as performing various helpful tasks, answering customer queries and connecting to enterprise systems when needed. These features respond according to the marketing requirements of the customers, efficiently improving the site loyalty and experience.
In order to cater to the best plausible global clientele, companies are increasingly investing in IVA to reduce costs from fields such as email response, technical telephonic support, and assistance on call. The implementation of the technology will enable the reduction in the resolution time, call wait times and allowing call transfers when an issue escalates, thereby augmenting IVA market share. The growing deployment of IoT is also expected to supplement the IVA market growth. In fact, IoT is known to have increased the quality and quantity of data being collected by the product. IVAs responding to text or speech queries through apps and smartphones has further enhanced customer engagement, a fact that has further helped impel the IVA industry trends.
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Speech recognition is one of the most vital technologies proliferating IVA market, as the system efficiently improves productivity, eliminating typing time, giving users additional time to focus on other work. Voice recognition software, in addition to being faster in task completion, are increasingly accurate when it comes to vocabulary. Speech recognition technology also makes invaluable contributions to businesses that offer customer services eventually reducing organizational costs. Furthermore, these systems improve interoperability owing to the adoption of IoT, further driving the IVA market size from speech recognition technology.
The Germany IVA market is expected to depict considerable growth in the years ahead, owing to the product’s new-found usage in the region’s thriving automotive market. Technological advancements in IVA have resulted in increased adoption of voice control and gesture control features in next-gen vehicles. IVA can now be integrated within vehicle systems such as automatic parking, lane change assist, adaptive cruise control, and other ADAS controls.
Regional automakers are constantly seeking ways to integrate the product in upcoming car segments to revolutionize driving experience. For instance, the German automotive giant, BMW has recently announced that its upcoming car segment would come with Intelligent Personal Assistant. Like Apple’s Siri or Amazon Alexa, the new AI-based virtual assistant would reply to voice commands and could adjust the temperature, lighting mood and music, among other things in the car efficiently, claims the company.
North America, apart from Germany, is another region that is forecast to accumulate commendable gains by 2024, driven by the expansive technological advancements in the region. Major software companies, like, Microsoft & IBM, have also been investing in IVA, thereby enhancing the growth prospects for North America IVA market.
The competitive spectrum of intelligent virtual assistant market also comprises other players like Amazon, Google, Microsoft, Apple, Inc., Artificial Solutions, eGain Communications, IBM Corporation, Nuance Communications, and Speaktoit, Inc. These companies are known to increasingly invest in product development and innovation to bring in intelligent assistance into the mainstream. Meanwhile, several tech giant firms are adding the product to their portfolio to gain added sales. For instance, on January 7th, 2019, the world’s leading television manufacturers Samsung, LG and Hisense announced that they would open their devices to Google Assistant and Amazon Alexa. As advancements in the fields of automation, machine & deep learning, conversation interfaces, and natural language processing continue to surge, IVA market share is certain to soar in the years to come.
Author Name : Mateen Dalal