Global handheld imagers market outlook: Rising security concerns at airports will drive industry growth

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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)
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

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Construction Applications to augment Boom Trucks market growth over 2016-2024

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Boom trucks market will witness a remarkable growth over the coming years, owing to the growing number of infrastructural activities across the globe. Boom trucks are basically small-sized to large capacity vehicles, with a wide range of uses from power companies to industrial applications. Ever-growing requirements of consumers and a rising need for custom-made equipment across various sectors will boost the demand for boom trucks. According to Global Market Insights, Inc., “Worldwide boom trucks industry collected a revenue of USD 350 million in 2015 and is anticipated to record a CAGR of 4.7% over the period of 2016 to 2024.”

 

U.S. boom trucks market size, by application, 2013-2024 (USD Million)
U.S. boom trucks market size, by application, 2013-2024 (USD Million)

Many of the end-use industries need customized equipment to perform multiple tasks, which will propel market growth. Growing use of anti-idling technology in truck fleets to conserve energy and reduce fuel emissions will propel boom trucks industry growth over the coming seven years. Popular use of hybrid boom trucks is anticipated to contribute substantially towards the market revenue over the next few years.

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The main application sectors of boom trucks industry are telecommunication, construction & logistics, and utility. Utility application segment will favorably influence the demand for vehicles across the water, electricity, and oil & gas sectors, owing to the various disaster management concerns and regulatory norms. Furthermore, these vehicles can also perform risky operations such as hauling, skidding, loading, felling, on-site processing, and chipping at inaccessible remote locations.

Boom trucks market size in construction application will exhibit an annual growth rate of more than 4% over the period of 2016 to 2024, driven by the increasing concerns regarding work safety, public procurement, taxation, ecological safety, and energy conservation. Rapid industrialization along with the rise in the volume of construction activities across the healthcare, social infrastructure, and education sectors will influence boom trucks market size noticeably. Telecommunication applications will exhibit substantial growth over the coming years, driven by the surging demand for the boom trucks to improve the productivity and efficiency.

Considering the geographical landscape, UK boom trucks industry will display a substantial growth over the coming seven years. The growth can be attributed to the surging demand for rental vehicles. France boom trucks market is predicted to grow noticeably, owing to the growing infrastructural developments like street lighting.

India boom trucks industry will register an annual growth rate of more than 4% over the period of 2016 to 2024. Favorable government initiatives along with growing innovations & developments in the construction sector will augment market growth. The Indian government promised to allot a house for every individual in the country by 2022, which will further stimulate the residential infrastructure development projects. This, in turn, will boost the boom trucks industry growth in this region.

Market players aim to reduce the overall equipment cost and launch technologically advanced vehicles to attract more customers. For instance, Manitowoc recently introduced new vehicles to fulfill the transportation needs as well as crane requirements.  In the coming years, manufacturers will invest heavily in R&D activities to innovate new products. The notable industry giants in boom trucks market are Palfinger AG, Elliott Equipment Company, Altec Industries, Inc., Manitex International Inc., American Construction Company, Manitowoc Cranes Company Inc., Interlake Crane Inc., RUTHMANN GmbH & Co., Runnion Equipment Company, and Aspen Equipment Company.

Author Name :Sunil Hebbalkar

CTMS Market Outlook: Pharmaceuticals & Biopharmaceuticals industry to dominate the application landscape

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Rapid economic progress coupled with favorable government regulations for drug approvals will push CTMS market size in emerging economies. High investments in clinical research activities are expected to boost the demand for clinical trial management systems (CTMS) across pharmaceuticals & biopharmaceuticals firms, clinical research organizations, and healthcare sectors. According to Global Market Insights, Inc., “Clinical Trial Management System Market size is projected to hit USD 2 billion by 2024.”In addition, rising occurrence of chronic ailments plus the increasing scope of clinical trials outsourcing is forecast to promote the business growth over the coming seven years.

Europe Clinical Trial Management System Market share, by component, 2012-2024 (USD Million)
Europe Clinical Trial Management System Market share, by component, 2012-2024 (USD Million)

CTMS market is segmented into site based clinical trial management system and enterprise based clinical trial management system. Enterprise based industry, which accounted for more than 70% of the total revenue in 2015, is anticipated to grow considerably over the coming timeframe, driven by its ability to provide specialized services. Site based CTMS is projected to contribute considerably towards the global industry share over the coming seven years.

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Pharmaceuticals & Biopharmaceuticals application, which dominated the end-use application landscape in 2015, is forecast to hit USD 1.4 billion by 2024. Tremendous efforts by market players to manufacture new medicines for treating chronic ailments is expected to boost the revenue. CTMS industry size in clinical research organizations is expected to grow at a rate of 14% over 2016-2024, driven by rise in clinical trial outsourcing activities along with high investments in R&D for clinical research business.

Regional highlights of Clinical Trial Management System Market over 2016-2024 are given below:

  • China CTMS industry revenue is forecast to produce more than USD 270 million by 2024. Government initiatives to establish research centers along with high spending on research activities across pharmaceuticals, life sciences, and clinical research sectors will drive regional growth.
  • Beneficial regulations such as allocation of funds for NIH, NCI, and FDA to carry out intense research and develop new healthcare solutions will propel U.S. clinical trial management system market value over the next few years.
  • Brazil CTMS industry is forecast to cross USD 55 million by 2024, driven by new breakthroughs in clinical research, growing popularity of biomedical equipment, and enhanced use of modern healthcare systems.
  • Government rules supporting clinical research are expected to boost CTMS market expansion in Germany over the years to come. Germany CTMS industry revenue is forecast to hit USD 180 million by 2024.
  • India clinical trial management system market value, which was estimated at USD 50 million in 2015, is anticipated to witness a remarkable growth over the coming years. Technological advancements in healthcare coupled with increasing investment in clinical research activities is projected to spur the regional revenue.

Key industry players include eClinForce Incorporation, MedNet Solutions Incorporation, Forte Research Systems Incorporation, Medidata solutions, Bio-Optronics Incorporation, PAREXEL International Corporation, Merge Healthcare Incorporation, VEEVA Systems, Oracle Corporation, and BioClinica Company.

Author Name :Dhananjay Punekar

Sleep apnea devices market outlook: U.S. to witness tremendous product demand

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Ongoing medical advancements and increasing awareness regarding the severity of sleep apnea is expected to be the vital factor driving sleep apnea devices market. Increasing lifestyle induced diseases such as obesity and cardiovascular are giving rise to growing prevalence of sleep apnea. A study suggests that over 50% of the global adult population habitually snore, which leads to growth in the rate of obstructive sleep apnea (OSA). As per American Sleep Association, more than 25 million adults in US are diagnosed with OSA. This data proves that there is a massive rise in the incidence of sleep and respiratory disorders, which will lead to significant usage of these devices. Moreover, favorable reimbursement schemes and awareness regarding adoption of these devices is likely to accelerate sleep apnea devices industry trends. As per Global Market Insights, Inc., “Sleep Apnea Devices Market  size is estimated to register an annual growth rate of 7% over the period of 2016-2023.”

Germany sleep apnea devices market size, by product, 2012-2023 (USD Million)
Germany sleep apnea devices market size, by product, 2012-2023 (USD Million)

Sleep apnea devices market is at a developing stage and will see a profitable future with rapidly growing attention towards sleep related disorders. The sleep apnea devices market can be bifurcated into airway clearance system, positive airway pressure, oral appliances, adaptive servo-ventilation, and oxygen device in terms of products. The oral appliances segment is estimated to surpass USD 1 billion by 2023. The flexibility in usage of this device and its generous recommendation to large patient pool is generating lucrative growth prospects in sleep apnea devices market. Moreover, with rising demand for easy-to-use miniature products, positive airway pressure (PAP) devices have witnessed a remarkable surge. This product segment is foreseen to attain a Y-O-Y growth of 10.4%, hitting the track record of being the highest revenue generating therapeutic device in 2015.

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A large pool of untapped opportunities in the emerging nations will provide sleep apnea devices industry with rewarding grounds over the years to come. Along with this, attention towards serious implication of this disorder on human health and promising reimbursement scenario will fuel the market growth.

Considering the regional outlook, below are the key highlights of sleep apnea devices market dynamics over 2016-2023

  • China sleep apnea devices market is expected to register to a CAGR of 11% from 2016-2023. Increasing incidence of OSA coupled with the rising geriatric population will ignite the regional growth.
  • Japan market, contributing more than 44% of the total regional revenue in 2015, is projected to witness heavy gains in the coming six years. Rising healthcare expenditure and the presence of the huge patient pool is likely to drive the demand for sleep apnea industry.
  • U.S. sleep apnea devices industry is projected to register a CAGR of 7.5% over the span of 2016-2023. The regional growth can be attributed to favorable Medicare policies and deployment of advanced products in the region.
  • UK sleep apnea devices industry is set to grow at a CAGR of 7% over 2016-2023. Favorable government initiatives in this regard will surge the industry growth.
  • Brazil and Germany sleep apnea industry is also anticipated to witness a momentous growth, owing to rising patien awareness levels.

Market players will focus more on product innovation and invest heavily in research to come up with novel products. Prominent companies operating in sleep apnea devices market include ResMed, Carefusion, Cadwell Laboratories, Philips Respironics, Braebon Medical, and Compumedics.

Author Name :Ojaswita Kutepatil

Fingerprint Access Control Systems Market to witness high gains via heavy demand in consumer electronics

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Rising security concerns leading to an increasing demand for biometric systems will augment fingerprint access control systems industry growth. High rate of terrorist and criminal activities across the globe, increasing safety concerns, and advanced technological innovations will also fuel product demand. According to Global Market Insights, Inc., Fingerprint Access Control Systems Market is anticipated to cross USD 4.5 billion by 2023, increasing at a CAGR of 7.2% over 2016-2023.
The latest cloud computing technology offers features such as finger vein, palm vein, hand geometry, voice, and facial recognition. Cloud-based biometric systems find applications in major corporations for extensive information storage, and are highly preferred owing to advanced features and cost-effectiveness. Growing demand for cloud services will escalate fingerprint access control systems industry growth.

Japan fingerprint access control system market size, by technology, 2012-2023 (USD Million)
Japan fingerprint access control system market size, by technology, 2012-2023 (USD Million)

Fingerprint access control systems find applications in healthcare, consumer electronics, military & defense, government, banking & finance, and other commercial applications.

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The business sector will emerge as a major revenue generator, fueled by the demand for security systems in office buildings, schools, collages, and other areas. Fingerprint Access Control Systems Market for commercial applications contributed to more than 34% of the global share in 2015, and is set to witness tremendous growth over 2016-2023.

Extensive demand for data security in popular electronic items such as tablets, personal computers, and smartphones will catalyze fingerprint access control systems industry growth, with manufacturers striving to integrate security features in electronic products.

Banks and other financial organizations across the globe are incorporating high-end integrated technologies to mitigate security threats, avoid transaction frauds, and provide consumers with safe and secure account access. Adoption of biometric systems for personal identification and verification across the BFSI sector will be a major driving factor for Fingerprint Access Control Systems Market.

Based on technological trends, fingerprint access control systems industry is segmented into optical, ultrasonic, capacitive, thermal, and pressure.

Capacitive fingerprint access control systems are cost-effective and can be easily integrated into small devices, which results in their increased adoption across the healthcare and banking sectors. Capacitive Fingerprint Access Control Systems Market is projected to increase at a CAGR of almost 7.5% over the period of 2016-2023.

Ultrasonic fingerprint access control system registers fingerprints via high sound frequency and is expected to exhibit significant growth over 2016-2023.

Optical technology based fingerprint access control systems industry contributed to 35% of the global share in 2015 and is projected to exceed USD 1.75 billion by 2023. This growth can be attributed to the features provided by optical technology, such as high resolution, excellent image quality, low-cost maintenance, convenient integration, and high durability.

Asia Pacific Fingerprint Access Control Systems Market is predicted to grow at a CAGR of more than 7.5% over 2016-2023, driven by criminal activities, increased security concerns, and favorable government initiatives in countries such as India and China.

U.S. houses industry giants such as NEC Corp. of America and 3M Cogent, which will drive regional demand. Increasing requirement of security systems across the healthcare and consumer electronics sectors will drive U.S. fingerprint access control systems industry.

High crime rates in Brazil will contribute heavily to Fingerprint Access Control Systems Market share over 2016-2023. Furthermore, the unexplored sector of security systems and growing business landscape will drive regional demand.

Key participants include Lockheed Martin Corporation, Aware, Inc., 3M Cogent, NEC Corporation of America, Cross Match Technologies Inc., and SecuGen Corporation. Other contributors include Safran Group, IDtech 360, Anviz Global, ZKTeco, Merkatum Corporation, Fingerprint Cards AB, Daon Inc., and Suprema Inc.

Mergers and acquisitions is the key strategy adopted by industry players to diversify their product range and deal with the rising industry competition. Increasing budgets across the BFSI, military, and healthcare sectors coupled with technological innovations provide numerous business opportunities to companies.

Author Name :Saipriya Iyer

Bench top dental autoclave market outlook: Rising oral health awareness to elevate industry growth over 2016-2023

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Rising occurrence of dental problems coupled with growing awareness about sterilization will push Bench top dental autoclave market growth over the coming years. As per CDC report, in 2012, nearly 61% of adults and 62% of old population consulted dentists to perform dental procedures like dental fillings, dental crowns, periodontal therapy, root canals, and maxillofacial procedures. According to Global Market Insights, Inc., study “Bench top dental autoclave market revenue is projected to hit USD 78.7 million by 2023.” Favorable government policies encouraging sterilization to lessen infection acquired at hospitals along with rising healthcare spending will propel the industry trends over the next few years. Growing oral cancer cases, owing to enhanced tobacco as well as alcohol consumption across emerging economies is also projected to drive the business growth.

Europe Bench-top Dental Autoclaves Market size, by Product, 2012 – 2023 (USD Million)

Europe Bench-top Dental Autoclaves Market size, by Product, 2012 - 2023 (USD Million)

Moreover, intense efforts made by the government to promote the use of dental instruments and consumables is projected to escalate bench-top dental autoclaves industry expansion in the near future. For instance, “The Comprehensive Dental Reform Act of 2012” of the U.S. has favorably impacted dental equipment and consumables sector, further enhancing Bench top dental autoclave market development. Favorable compensation policies related to dental coverage along with promotion of oral healthcare campaigns across healthcare centers and schools is expected to drive the growth.

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Automatic, Pre-& Post vacuum, and Semi-Automatic dental autoclaves are few of the major bench-top dental autoclaves products. Pre & Post vacuum dental autoclaves, which accounted nearly 43% of global Bench top dental autoclave market share in 2015, is anticipated to grow substantially in the years to come. Its rising demand across dental clinics along with cost-effectiveness will spur the product demand.  Automatic bench-top dental autoclaves industry is projected to record an annual growth rate of 7.1% over the coming timeframe, driven by rising automation trends in dentistry to achieve quick & accurate outcomes without human interference.

Geographical trends pertaining to Bench top dental autoclave market over 2016-2023 are as below:

    • Europe bench-top dental autoclaves industry size, estimated at USD 16.4 million in 2015, is anticipated to hit USD 24.8 million by 2023. High incidences of oral ailments such as pyorrhea amongst the aging population are anticipated to boost the regional growth over the years to come.
    • Increasing awareness about oral health coupled with high occurrence of oral diseases is forecast to stimulate bench-top dental autoclaves business expansion in North America. U.S. Bench top dental autoclave market size, which accounted for more than 80% of the overall revenue in 2015, is predicted to drive the regional revenue.
    • Asia Pacific bench-top dental autoclaves industry is forecast to make substantial gains of 7.4% over 2016-2023, driven by growing geriatric population base along with large unmet dental requirements. China, Japan, India, South Korea, and Indonesia are projected to be the major regional growth drivers.

Market players will try to retain their industry position and enhance their revenue by implementing business growth strategies such as strategic alliances, product development, technological innovation, product differentiation, and mergers & acquisitions. Key industry participants include Melag, Tattnauer, Midmark Corporation, W&H Dentalwerk International, Fona Dental, and Antonia Matachana S.A.

Author Name :Dhananjay Punekar

PV Inverter Market Outlook: Commercial infrastructure to witness heavy demand over 2016-2024

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Photovoltaic Inverter Market will witness heavy growth over 2016 to 2024, driven by favorable government initiatives and a strict regulatory framework to promote deployment of sustainable energy resources. Monetary assistance along with various supporting schemes such as net metering, feed in tariff, and upcoming projects on renewable energy will further propel industry growth. In 2015, financial incentives and net metering accounted for 78% and 15% of the global photovoltaic inverter market respectively. As per a report by Global Market Insights, Inc., “PV Inverter Market size worth over USD 6 billion in 2015, is projected to exhibit high gains at a CAGR of more than 13% over the period 2016 to 2024.”

U.S. PV Inverter Market share, by application, 2013 – 2024 (MW)
U.S. PV Inverter Market share, by application, 2013 - 2024 (MW)

Surging demand for cleaner and more reliable electricity at affordable price will encourage more solar installation, thereby complementing the PV inverter industry. Growing inclination toward unconventional energy sources for safety and security purpose will favor the market expansion.

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PV inverters find applications in residential complexes, commercial arenas, and utility segments. Residential photovoltaic inverter industry size exceeded a revenue of USD 1,480 million in 2015 and is expected to increase at a CAGR of 12% over the coming seven years. Increasing focus on the decentralization of power generation in emerging nations by electrification programs will have a positive impact on the global market.

Favorable government initiatives to bring down the carbon content and the increasing requirement for uninterrupted power supply will boost the commercial application growth. Commercial applications consumed more than 10 GW power in 2015, and will witness heavy growth in the next seven years.

PV inverter market size in utility application segment was 20 GW in 2015, and is expected to grow substantially in the years to come.

Standalone and on grid photovoltaic inverters are the two types of PV inverters. Strong urge toward off grid electricity clubbed with cost effectiveness of unconventional energy sources is having an assertive influence on the standalone photovoltaic inverter market. It is forecast to cross over USD 6 billion by 2024.  On grid PV inverter market size is estimated to generate a revenue over USD 10 billion, growing at an annual rate of 19% over 2016-2024.

Driven by the government measures toward adoption of renewable energy sources over conventional sources, US photovoltaic inverter market size is expected to record a significant CAGR of 19% over the period of 2026-2024.

Favorable initiatives by the African government to shift the focus toward renewable energy based power production is propelling the South Africa PV inverter market size, which is estimated to reach over USD 37 billion by 2024.

Geographically, China PV inverter industry is projected to remain one of the major regional contributors, with an estimated power generation of 70 GW by 2024. China also planned to implement photovoltaic poverty elevation program for the installation of 10 GW solar panels within four years.

Chile is one of the prominent region driving global PV inverter market. The rising implementation of numerous solar projects and the untapped scope of the renewable energy sector will drive regional growth.

Key players of the industry are KACO Energy Inc., REFUsol, Advanced Energy, Ingeteam, Schneider Electric, ABB, Sungrow Power, Elettronica Santerno, and Huawei Technologies.

Author Name :Satarupa De