APAC Recycled Elastomers market to amass tremendous remuneration from infrastructure development, agricultural applications to enhance the industry outlook over 2018-2025
Increased utilization of recycled materials by manufacturing and infrastructure segments has boosted the global recycled elastomers market, enabling the formation of low-cost and good quality composite products. High elastic deformation combined with exceptional vibration and noise dampening properties have created a wide application base for these materials for improving work environments and transportation networks. Growing awareness among producers around the world for undertaking eco-friendly waste disposal initiatives to reduce pollution caused by landfills has invariably promoted the recycled elastomers industry. Consumers, wanting to ensure that they contribute towards saving the environment, are increasingly accepting and demanding products which incorporate recycled ingredients. Subsequent rise in recycling activities of waste like tires and other rubber products to make building composites, agricultural sheds, artificial playgrounds and auto parts has tremendously propagated the recycled elastomers market, which in 2017 garnered a global revenue of over USD 2.5 billion.
U.S. Recycled Elastomers Market Size, By Application, 2014 – 2025 (USD Million)
Several durable products using recycled elastomers are manufactured depending on the properties most suitable for a particular use in any of the industry segments, such as chemical resistant gloves or athletic turfs for sporting events. In terms of large-scale applications that benefit a varied demographic over time, transport infrastructure has sprouted to become a leading source of revenue for the recycled elastomers market. As compared to traditional paving materials, modified asphalt mixed with recycled rubber allows for a high performance solution to extend the lifespan of roads and highways. Asphalt binding with recycled elastomers, mostly sourced from scrapped tires, provide a safer, eco-friendlier and less expensive alternative. The excellent elasticity and dampening features of such asphalt help to reduce the occurrence of surface cracking, temperature fluctuations and movement caused by traffic loads. The lowering of waste by recycling scrap tires, along with a continuous and reliable raw material supply have strengthened the recycled elastomers market stance within the infrastructure segment.
The Asia-Pacific (APAC) is known to be a rapidly developing region with countries like China, India, Malaysia and Indonesia showing remarkable progress in infrastructure spending. In China, for instance, the total road length increased from 3.7 million kilometers in 2008 to 4.8 million kilometers by the end of 2017, while the total length of highway reached a figure of 136,500 km during the same period. The large transportation infrastructure indicates the growth potential of the recycled elastomers market from asphalt binders. As the population and consequent automobile consumption in APAC countries is expected to rise at an incredible pace, a surge in government expenses to develop road connectivity will further encourage recycling initiatives, fueled by an incessant supply of waste rubber materials. It is observed that building a single lane pavement of one mile, 500 to 2,000 scrap tires need to be recycled, presenting the advantage of the recycled elastomers industry in cutting down on land pollution.
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Use of recycled elastomers in manufacturing agricultural equipment and flooring has additionally maintained the dominance of APAC in the recycled elastomers market, holding over 50% of the global share in 2017. The region encompasses some of world’s leading agri-based developing nations that need constant supply of food and livestock products to cater to an exponentiating population, creating a demand for weather resistant products that support agriculture productivity. For example, India is the second most populated country in the world and as of 2015 had approx. 60.4% of overall land under agricultural occupation. Advancing technologies associated with increasing the crop output have been buoyed by robust water hoses, belts, sheds, windbreaks and vegetation protecting equipment made from recycled elastomers.
The recycled elastomers market has experienced prolific returns from the demand for livestock mats as well, derived from the fact that APAC has major dairy and meat producing nations. Stalls and floors housing livestock need to be able to counter weather abuse and seasonal wear, requiring them to be built of durable and flexible materials. Agricultural mats made using recycled elastomers offer a mix of strength and softness that is necessary for safe sheltering of livestock animals, ensuring an up thrust in the total yield. With agricultural income forming a significant part of GDP in China, India, Thailand and other South East Asian countries, the recycled elastomers industry is deemed to witness enormous proceeds from the agriculture segment.
All in all, use in infrastructure and agricultural areas due to vital properties like elasticity, durability, UV and chemical resistance, among others have propelled the recycled elastomers industry, with American Tire Recycling, GRP Ltd., West Coast Rubber Recycling, Liberty Tire Recycling, Genan Holding, J. Allcock & Sons Limited, Klean Industries and Emanuel Tire Co. being some key market contenders. Additional applications such as developing medical devices in combination with FDA approved raw materials will generate supplementary earnings for the global recycled elastomers market, anticipated to register a CAGR of more than 12% from 2018 to 2025.
Author Name : Pankaj Singh
Fuel cell electric vehicle market to garner hefty proceeds from long distance traveling automobiles over 2019-2025, rising investments and product launches to underline the industry expansion
Fuel cell electric vehicle market share is anticipated to display a marked ascent in the forthcoming years, owing to the fact that governments across a host of nations are undertaking various initiatives to bolster the utilization of zero-emission automobiles in a bid to lower greenhouse gas emissions and contain the ever-rising pollution levels. Moreover, it would be prudent to mention that the painstaking efforts being put in by automobile manufacturers in enhancing the existing fuel cell technology and revamping the current infrastructure of fuel cell EV platforms, has invariably created an unprecedented exuberance pertaining to the growth prospects of the global fuel cell electric vehicle industry.
U.S. Fuel Cell Electric Vehicle Market, By Vehicle, 2018 & 2025, (USD Million)
Citing an instance to highlight the same, one of the foremost fuel cell electric vehicle market players, Ford Motor Company has recently announced that it would amplify its current investment in electric vehicle manufacturing by over two times, taking the figure to a staggering USD 11 billion. Moreover, a range of other dominant fuel cell electric vehicle industry giants including Toyota, General Motors, and Volkswagen have already carved out aggressive plans to manufacture more such vehicles in the next few years. Apparently, the aforementioned declarations undoubtedly showcase a favorable progression path of the worldwide fuel cell electric vehicle market.
In the recent times, it has been observed that the leading fuel cell electric vehicle industry players are being benefitted immensely from the noteworthy increase in consumer preference for fuel cell-powered vehicles over battery-powered ones. Apparently, the major advantage of fuel cell-powered vehicles is that they can be charged in lesser time duration than the vehicles running on batteries. Furthermore, fuel cell electric vehicles are known to cover longer distance after a single charge, possess greater off-road mobility, better torque, and enhanced field configuration than the battery-powered vehicles. This goes on to explain the increased focus of a number of fuel cell electric vehicle industry giants on manufacturing fuel cell-powered long-distance trucks and SUVs. As a consequence, long distance traveling automobiles are set to apportion a major revenue share of the overall fuel cell electric vehicle industry by 2025.
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Speaking along similar lines, Toyota Motor North America, Inc, has recently released its concept truck heavy-duty truck equipped with advanced hydrogen fuel cell system that is expected to broaden the application of zero-emission fuel cell technology. Moreover, the fully functional truck, named as Project Portal, has an exceptional torque capability to seamlessly carry out port drayage operations and transport goods over short and long distances. Needless to mention, the launch of such innovative vehicles would provide a vigorous boost to the global fuel cell electric vehicle market size expansion over the estimated time frame.
Meanwhile, it would be prudent to take note of the major factors that are likely to hamper the fuel cell electric vehicle market size progression over the next few years. Establishing a robust network of fueling stations has always been a matter of contention across the globe as it requires a substantial amount of investments. Taking this shortcoming into consideration, the renowned fuel cell electric vehicle market player General Motors Company has recently unveiled a new fuel cell platform, christened as Silent Utility Rover Universal Superstructure (SURUS), which has reportedly been designed for variegated vehicle models. The latest platform is being described as a significant development considering the use of microgrids in military applications. Furthermore, the platform has been developed in such a manner that it would double up as a stationary power source to charge the electric vehicle. The US Army is expected to be the first to utilize SURUS on a wide scale, given that it is already experimenting with semi-autonomous convoys to strengthen its existing fleet of fuel cell electric vehicles that cover long distances.
As regional and international regulatory agencies are determined to reduce carbon emissions coupled with the extensive efforts being deployed by leading fuel cell electric vehicle participants, the popularity of fuel cell-powered vehicles is anticipated to soar over the next seven years. In addition to this, the robust growth being witnessed across global renewable energy sector would favorably influence the fuel cell electric vehicle market size that is estimated to surpass USD 11,600 million by 2025.
Author Name : Saif Ali Bepari
Heavy-duty trucks market projected to amass mainstream popularity over 2019-2025, global product penetration to depict an upsurge subject to a perpetually vast application terrain
Tesla’s latest Class 8 marvel is indeed a classic phenomenon that has posed several challenges for heavy-duty trucks market players. The automotive giant has unveiled the ‘Tesla Semi’ – its all-electric semi-truck that boasts of superior charging capacity and has been designed to travel from 0 to 60 mph in merely a 5-second span. In fact, towing a load of close to 80,000 lbs alongside, this truck can travel from 0 to 60 mph in just 20 seconds, setting quite a remarkable precedence for companies partaking in heavy-duty trucks industry share.
U.S. Heavy-Duty Trucks Market, By Class, 2018 & 2025, (USD Million)
What’s precisely noteworthy though, is not the Semi’s speed range or its aesthetic appearance, but the fact that it offers a transmission which requires no gear shifting with regenerative braking – essentially, a provision that delivers infinitesimal brake life for the vehicle. Endowed with such an amazing intrinsic design such as this, the Tesla Semi is certain to cause a stir in heavy-duty trucks market.
It is prudent to state that the Tesla Semi being a Class 8 wonder is an indicator of the fact that class 8 vehicles are indeed being pursued with renewed gusto by heavy-duty trucks industry players. In fact, a report by Global Market Insights, Inc., claims class 8 vehicles to accumulate a considerable portion of the global revenue in heavy-duty trucks market over 2019-2025, pertaining to their enviable ability to sustain heavy loads. Generally deployed for high-power applications such as construction and mining, class 8 vehicles are diesel-powered and have a gross weight vehicle rating of more than 33,000 lbs. Subject to the extensive demand for these beauties, companies have been sparing no expense in R&D activities, to bring forth newer class 8 vehicles endowed with superior features, that would ultimately help augment the sales graph of the overall heavy-duty trucks industry.
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Not so long ago, Daimler, one of the most prominent players of heavy-duty trucks market, had unveiled a prototype of its much-awaited vehicle at the Tokyo Motor Show. Daimler’s truck unit, Mitsubishi FUSO, claimed that its heavy-duty truck, called the E-FUSO Vision One, weighs more than 51,000 lbs and is capable of driving up to 220 miles on a single charge. The product was viewed as a cutthroat competition to Tesla’s Semi, leading to some level of consolidation in heavy-duty trucks industry. In consequence, it is undeniable that products endowed with superior properties and high-caliber innovations would prevail in this business space, thereby increasing the sales figures and the overall revenue of heavy-duty trucks market, which is anticipated to surpass USD 160 billion by 2025.
Unquestionably, renowned biggies have not been programmed to remain the underdog in heavy-duty trucks industry. In this regard, Volvo Trucks, the Sweden-based truck manufacturer, recently launched LNG and biogas powered, Euro 6-compliant heavy duty trucks, that apparently possess the same driving ability, fuel consumption, and performance level as that of Volvo’s diesel-powered vehicles. However, the proportion of carbon emissions from the all-new Volvo FM LNG and Volvo FH LNG is 20% to 100% lower than the diesel vehicles, based on which fuel is specifically chosen. Furthermore, these trucks are also available for heavy long-haul operations, with 420 hp to 460 hp, that may make them one of most sought-after vehicles in heavy-duty trucks market.
Most companies spanning across the competitive spectrum of heavy-duty trucks industry have lately been concentrating on cost-reduction methodologies. This paradigm shift, it has been observed, is being carried out through the introduction of novel remanufacturing business models that ultimately help to reduce the production expense. One of the pivotal factors responsible for the expansion of heavy-duty trucks market is the robust growth of the automotive domain, especially across the emerging economies.
In fact, heavy-duty trucks market players such as Toyota, Daimler, Ford Motor Company, Tata Motors, Volvo, and General Motors have strongly established bases across the developing geographies, owing to the convenient availability of resources coupled with a supportive regulatory frame of reference, which has proved to be rather lucrative for the overall business sphere.
It is imperative to mention that in the last half a decade or so, the prevalence of high-grade technological advancements, say for instance, such as telematics services and self-driving has increased to a rather commendable extent. As on today, these technologies are considered to be some of the key drivers that help expand the consumer pool for heavy-duty trucks industry players.
With tech-savvy clients willing to wield the convenience and flexibility of contemporary technologies, companies have been rapidly exploiting the latest tech-oriented mechanisms in product manufacturing, leading to increased vehicle sales and by extension, an escalated revenue collection for heavy-duty trucks market. With state-of-the-art technologies in action, in conjunction with the widespread penetration of truck fleets in several end-use domains, heavy-duty trucks market size is likely to depict a massive surge by the year 2025.
Author Name : Saipriya Iyer
Peracetic acid market to be primarily driven by growing product consumption across the F&B sector, global industry to chronicle its name in the billion-dollar business cosmos by 2025
The increasing use of peracetic acid as a cleanser, disinfectant, antimicrobial, and sanitizer has been stimulating peracetic acid market share. End-use sectors such as f&b, bottling, and meat & poultry processing have been extensively using peracetic acid for disinfecting foodstuffs. In addition, for removing bacteria and fungi from fruits and vegetables, cleansing textile fabrics, processing papers, and treating wastewater, peracetic acid has been preferred on a large scale.
U.S. Peracetic Acid Market Size, By End-user, 2014 – 2025 (USD Million)
The increasing development of production plants related to bottling, agricultural food products, and meat processing facilities have thus been having a significant influence on the peracetic acid market size. Regulatory bodies like FDA have also been playing a major role in the enhancement of product quality by providing guidelines for numerous industries over the use of peracetic acid. Driven by a supportive regulatory landscape and a widespread application spectrum, peracetic acid market trends are likely to receive a commendable boost in the years ahead.
As of now, driven by the rapidly growing population, investments in the food processing industry have depicted a major rise, specifically in packaged food products. In accordance, regulatory organizations and other administrative bodies have implemented supportive policies to increase product adoption. This would perpetually impact peracetic acid market share, since most of the bottling plants use peracetic acid to reduce microbial contamination owing to its antiseptic nature. The product is also used in the brewing industry as a sanitizer. The shifting trends toward completely eliminating microbial contamination with aseptic packaging has turned out to be rather profitable for the bottling and beverage industry, since aseptic packaging provides a longer shelf life and minimum shipping costs.
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Aseptically packaging solutions are also preferred by high and low acid beverage producers, further increasing the demand for peracetic acid. Another additional benefit of peracetic based packaging is that there is no need to deliver the products through a refrigerated enclosure. In accordance, it would be rather overt to mention that the surging establishment of new brewing and dairy product plants will have a notable impact on peracetic acid market. For instance, a few months before, the American beverage company, Coca-Cola decided to invest USD 250 million to build a manufacturing and distribution plant in North Houston. This one-million-square-foot facility will start operating by 2020 with the production of plastic bottles and cans for water and sparkling drinks.
In this rapidly evolving business sphere, taking into account the future opportunities renowned companies have been striving to strengthen their product portfolio by adopting various strategies. Validating the aforementioned fact, few days before, German-based chemical manufacturer, Evonik has signed agreement to acquire U.S.-based PeroxyChem for USD 625 million. PeroxyChem mainly manufacturers peracetic acid and hydrogen peroxide for the specialty applications. With this acquisition, Evonik would now be able to expand its portfolio of environment friendly and high-growth specialty applications. Through such strategic business initiatives, players in the peracetic acid market have been extending their regional reach and enhancing their customer base globally.
Peracetic acid manufacturing companies have consistently been under regulatory scrutiny, however, the favorable regulatory framework has helped them establish advanced research and development facility centers. For instance, recently, EPA provided the green signal for Biosan’s newly developed product that can be used for disinfection and sanitization of laundry. This peracetic acid based product controls dangerous microorganisms like Pseudomonas aeruginosa and Staphylococcus aureus which are mainly found in the laundry pertaining to the hospitality industry. Aided by the supportive sanction from EPA, Biosan LLC has set benchmark for further development peracetic acid sanitizer.
Increasing importance for peracetic acid across industrial and commercial spheres owing to its effectiveness and cost-saving features is thus poised to boost the product demand over the years ahead. The changing approach of the companies toward enhancing their customer base with frequent mergers and acquisitions is also likely to strengthen the pace of peracetic acid industry over the years ahead. For the record, by the end of 2025, overall peracetic acid market will surpass revenue collection of USD 1.2 billion.
Author Name : Sunil Hebbalkar
Digital genome market to observe lucrative gains via R&D sector, U.S. to stimulate industry growth over 2016-2024
On-going research activities along with supportive regulations across the globe will revolutionize digital genome market. The growing implementation of this technology in the field of personalized medical care for efficient disease management will noticeably favor digital genome industry share. According to the Global Market Insights, “Worldwide digital genome market was worth USD 20 billion in 2015 and will exhibit a CAGR of about 9.5% over the coming years of 2016 to 2024.”
The prominent applications of digital genome industry are microbiology, reproductive & genetic, research & development, transportation, and livestock & agriculture sectors. Microbiology application segment accounted for more than 22% of the revenue share in 2015 and will surpass a revenue collection of USD 10 billion by 2024. The growing demand for microbes across clinical, biological, and industrial sectors should drive the revenue. Research & development dominated the application landscape in 2015 and will contribute a revenue of more than USD 23 billion by 2024. The growth can be attributed to heavy investments by private and public sector firms in research activities.
Germany Digital Genome Market size, by product, 2012-2024 (USD Million)
Sequencing and analysis software, one of the product bifurcations of digital genome market, will register an annual growth rate of 9.8% over the period of 2016 to 2024, owing to the increasing efforts to upgrade software packages. High investments in life science research will favor sequencing and analyzer instrument industry, which covered more than 40% of the global digital genome market contribution in 2015. Sample prep instruments, sequencing chip, and RNA or DNA analysis kits are the other notable products in digital genome industry.
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China digital genome market size will grow at an annual growth rate of more than 10% over the period of 2016 to 2024. The growth can be attributed to the supportive governmental activities in the favor of human genetic development. Moreover, the strategic partnerships between the biobanks and research institutes will influence the industry share noticeably.
U.S. digital genome market covered over 80% of the North America regional share in 2015 and will generate significant revenue over the coming seven years, owing to the genome sequencing technological enhancements along with availability of advanced healthcare infrastructure.
Brazil digital genome market is anticipated to record a considerable growth rate over the coming timeframe. The supportive rules and regulations regarding genetic and clinical testing will augment the business growth.
Russia digital genome market collected a revenue of around USD 290 million in 2015 and will exhibit lucrative growth over the coming years of 2016 to 2024, primarily driven by the fierce competition prevalent in the region. The Genome Russia project launched by St. Petersburg State University in Russia, aims to collect and scrutinize genome sequences from different regions across the country, which is also expected to generate a noticeable revenue over the coming seven years.
Collaborations, acquisitions, and novel product innovations are the business growth strategies of industry giants. The corporations operating in digital genome market are Becton Dickinson, Agilent Technologies, Qiagen, Thermo Fisher Scientific, Illumina, Pacific Biosciences, Perkin Elmer, Sigma-Aldrich, BioMarin Pharmaceutical, Fluidigm Corporation, Bio-Reference Laboratories, AVEO Oncology, and Agios.
Author Name :Sunil Hebbalkar
An in-depth analysis of calcium nitrate market in terms of the application spectrum: escalating demand for wastewater treatment to drive the industry trends over 2018-2025
The global calcium nitrate market share is touted to soar high in the coming years primarily propelled by the increasing prominence of wastewater treatment across the globe coupled with growing healthcare & pollution control initiatives. As per estimations by the United Nations, the amount of wastewater generated yearly is about 1,500 km3, which is six times more than the water that exists in all the rivers across the world. Over the past decade, due to the rise in industrial pollution optimum management of wastewater has emerged as a major challenge for governments worldwide. According to the World Health Organization, unsafe or insufficient water, hygiene, and sanitation issues cause approximately 3.1% of all global deaths, and 3.7% of DALYs (Disability Adjusted Life Years) globally.
U.S. calcium nitrate market size, by grade, 2014 – 2025 (USD Million)
Calcium nitrate is extensively used in wastewater treatment facilities to minimize foul odors by up to 90 percent, by stopping the wastewater from becoming septic. The constant increase in clean water demand amid possible threats of biological contaminates has also been lending positive momentum to calcium nitrate market growth. Of late, the product apparently has also gained recognition in the solar power sector – it is used as molten salt in solar towers. As the energy sector expands further with renewable alternatives and solar power projects are anticipated to grow in number, the revenue graph of calcium nitrate market is anticipated to depict exponential growth.
Some of the key organizations having a significant foothold of the calcium nitrate market are Airedale Chemical, Vardhaman Fertilizers & Seeds Pvt. Ltd., Agrium Inc., Yara International ASA, Rural Liquid Fertilisers, Haifa Chemicals Ltd, and GFS Chemicals, Inc. These organizations, as is observed, have been working to expand their manufacturing capacities, geographical reach, and have also been introducing new business units, particularly across developing economies, such as the ones in the Asia Pacific where labor and property costs are economical. Citing an example of industrial expansion, in 2017, Haifa Chemicals Limited launched its new business subsidiary in Colombia called the Haifa Colombia SAS. The new facility reportedly provides plant nutrition solutions to distributors in the local periphery, helping the firm in establishing itself in the Colombia market.
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A brief outline of the calcium nitrate market in accordance with the application spectrum has been outlined below:
Calcium nitrate market size from fertilizers has been exponentially surging over the last few years due to increasing consumer efforts pertaining to improving yield quality and boosting profitability from agricultural trade. Some of the major contenders of the calcium nitrate fertilizer market have been constantly reinventing & innovating their crop nutrition portfolios to deliver increased crop yield and improved crop quality with minimum environmental impact.
Citing an instance, Yara, a fertilizer behemoth, is renown to offer an extensive collection of cutting-edge calcium nitrate based fertilizing solutions, called YaraLiva. The YaraLiva calcium nitrates employ quick-acting nitrate-N, in conjunction with strength-developing calcium, and the unconventional collaboration of these two nutrients fuels longer growth. Trees and plants treated with calcium nitrate fertilizers become naturally healthy and are less sensitive to growth stress. Acting proactively through sprout to harvest, these fertilizers enhance the appearance, strength, stature, glow, and size of the tuber, fruit, lettuce, seed, vegetable, or leaf being cultivated. In consequence, with calcium nitrate fertilizers, farmers can harvest high-value, healthy, and highly saleable produce. Considering the soaring demand for food worldwide, the requirement of these fertilizers is only bound to increase, which would help augment calcium nitrate market share from fertilizers in the years ahead.
Wastewater treatment chemicals
Wastewater plays host to a number of undesirable substances, some of which can prove to be extremely harmful if left untreated. Water has to be treated with appropriate processes & chemicals to remove solid suspended particles and avoid penetration of disease-causing virus, bacteria, and protozoa. The bacteria in untreated wastewater can undergo a chemical reaction to generate active sulphides, post which hydrogen molecules bond with these sulphides to create malodourous H2S gas, imparting an unbearable stench to wastewater.
When used in a treatment plant, calcium nitrate provides an alternate oxygen source that disrupts the development of H₂S gas. Reduced concentrations of H₂S entail less foul odor, lower corrosion of assets, and increased compliance of WHS (Work Health and Safety) regulations. Amidst growing water safety concerns, the rising implementation of calcium nitrate across water treatment facilities worldwide is projected to substantially elevate the industry growth in the coming years.
With the surging utilization of calcium nitrate across a plethora of applications in government, industrial, and agricultural sectors, it goes without saying that the commercialization graph of calcium nitrate industry will depict a commendable incline over the coming years. As per estimates, the overall calcium nitrate market size is projected to cross USD 12.6 billion by 2025.
Author Name :Nikita Chaurasia
Aerial imaging market to register a double-digit CAGR over 2018-2024, disaster management to evolve as a pivotal growth ground over 2018-2024
A slew of advancements in geospatial technology has been instrumental in adding impetus to aerial imaging market lately, to such as extent that government organizations to commercial businesses, have now found ways to utilize the technology to their own advantage. Hurricane Harvey is one of the most iconic examples that demonstrates the progress of aerial imaging industry. The prompt intervention of EagleView Technologies had then restored some relief to the hurricane affected victims, while simultaneously increasing the popularity of aerial imaging.
Aerial Imaging Market Size, By Application, 2017 – 2024 (USD Million)
Elaborating further, when Harvey flooded Texas and Louisiana with 27 trillion gallons of water in 2017, it turned out to be one of the most devastating natural disasters in the US history. Besides, it also happened to be one of the most expensive catastrophes which cost approximately $190 billion. Amidst a scenario where thousands of people were displaced from their homes and thousands of others did not know if they had any home left to go back to, the Henrietta based aerial imaging company EagleView Technologies presented a possible means of relief to the victims of the destruction Harvey left in its wake. The company launched a website that depicted aerial views of the streets ravaged by the hurricane. Users could enter a street name and view before and after images to access the extent of damage. EagleView Technologies has so far collected almost 350 million images of over 90% of the most populated areas of the U.S. on behalf of clients which comprise local and state governments as well as insurance companies, that may benefit the hurricane victims.
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However, aerial imaging industry is not limited to amassing millions of pictures alone. The vertical is now focusing on collecting images and teaching machines to look at images and generate a report if something of crucial importance is being reflected in those images. For instance, when an electric utility company requires aerial imaging, they do not just want thousands of images of power lines, what they want is to discern which poles are damaged or have broken conductors and need to be repaired. Machine learning facilitates this process by analyzing each image and producing a report for the repair crew with the location of the problem spots. Information collecting companies that are mainstream end-users of aerial imaging market are heavily dependent on this technology to access damage of personal and public property after natural catastrophes. Since it is not possible to send out claim adjustors to every place right after the disaster despite the crucial importance to assess damages as quickly as possible, aerial imaging market has received a considerable boost from the insurance industry.
As such implications clearly point out, disaster survey and management is expected to become one of the most lucrative growth avenues for the aerial imaging industry. In fact, aerial imaging market size from disaster management is expected to register a CAGR of 16% over 2018-2024. Most governments have regulations dictating the pilot of an aerial imaging vehicle to be in the visible range of the vehicle. But as climate change has increased the incidence of natural disasters, such restrictions are being slowly lifted. Advancement of technology is also ensuring that human pilots can be replaced with self-flying drones. This not only decreases the chance of harming human life while they are out in disaster zones but also helps in better assessment as machines can be taught to fly straight and maintain constant altitude. The advent of advanced technology will thus play a pivotal role in aerial imaging market expansion.
Recently Airbus Aerial and DroneBase announced a partnership that will deliver a multi-source data service solution for aerial imaging from a single provider. Such an initiative will enable companies to use a single service provider for all their data and imagery insights. With an international leader and pioneer in aerospace industry like Airbus and DroneBase which has 100,000 commercial missions flown in over 70 countries making a significant investment, other investors are also expected to join in the battle. As the contributions by prominent contenders strengthens the case for this vertical, aerial imaging industry size is expected to cross USD 4 billion by 2024.
Author Name : Paroma Bhattacharya