Expanding world trade and the rising need to reduce carbon dioxide emissions will foster port equipment market size over the forecast period. There has been an increasing demand for stronger and better port handling equipment, such as hybrid cranes with lower emissions, owing to a surge in the volume of goods being transported. Ongoing as well as new trade partnerships and agreements between enterprise across different nations will drive global port equipment market trends, in addition to upcoming international policies.
U.S. Port Equipment Market, By Application, 2018 & 2025, (USD Million)
Continuous evolution of the maritime transport sector has a major impact on transport cost, trade volume and economic competitiveness, where adhering to the latest regulatory mandates represent a big challenge. Around 80% of international trade is done through ports, due to which they play an important role in connecting several developing countries which are gradually witnessing a growth in port communities and global import-export exposure. Industrialization in emerging economies will certainly create a substantial demand for modern port equipment to handle rising trade volumes.
Report by the Indian Ports Association says that 12 major ports in India had recorded 2.90 percent growth in handling of the cargo, poised at 699.04 million tons, during the 2018-19 fiscal year. The handling of fertilizers, containers and coal have driven the expansion of these ports, in turn requiring the installation of new equipment to handle them. Major ports in India handle nearly 60% of the total cargo traffic in the country, depicting a tremendous need for these equipment. Augmented import of fertilizers, POL (Petroleum, Oil and Lubricant) and coal have favorably impacted Asia Pacific port equipment market share.
With excellent load handling capacity and availability of numerous suitable options, cranes are expected to contribute substantially towards optimizing the management of port operations. Apparently, the first capital outlay for container crane is USD 5 million, having an assumed life of 20 years. Owing to reduced operational cost, that includes consumables and labors, the demand for high-performance cranes will increase significantly. Port equipment industry will experience a notable shift in the direction of full-electric cranes, as they have a lower environmental impact and can recapture 75-80% of energy released.
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Rising investments across various industries and the subsequent expansion of ports will help boost the adoption of crane and forklifts. For instance, the Port of Virginia has confirmed that its Virginia International Gateway facility in Portsmouth has recently completed an expansion worth $320 million. The terminal will feature the largest of ship-to-shore cranes in the area, standing 170-foot- tall. It will also add 26 rail-mounted gantry cranes which help create more room to sort and stack shipping containers. The Port of Virginia reportedly handled 3 million TEUs of cargo in the year 2019 and is growing year to year.
Container handling segment in port equipment market will grow significantly in the forthcoming years owing to multipurpose utility of containers that can carry all sorts of goods as they are moved from one port to another. Imported grains like corn, wheat and rice are being shifted to containerized cargo due to convenience and cost efficiency. Container shipping can be cheaper owing to two-way functioning system and has made several of Asia’s food importers shift to containerization. Containers can be more adaptable, and elastic compared to the bulk facilities.
There has been a surge in the adoption of automated equipment that could reduce operating expenses by 25-55% and could raise productivity by 10-35%, steadily transforming port equipment industry outlook. Trelleborg and Cavotec are going to install automated mooring systems at Old City Harbor in Estonia, which would be used starting 2020. The technological advancement will majorly contribute to the growth of maritime sector in the region and improve mooring processes of ships, while reducing needed labor-hours and reinforcing environmental sustainability.
Europe has been witnessing rising sea and cargo transportation activities which will allow the region to become a key revenue pocket for port equipment market. Constant expansion and development in the port infrastructure has been providing greater opportunities for the penetration of advanced hybrid and electric products. Manufacturers are coming up with scores of innovative solutions, introducing automatic port equipment options to meet the increasing requirement of more efficient products with lower carbon footprint.
Market players like Liebherr, Konecranes, Shanghai Zhenhua Heavy industries and American Crane & Equipment industries are consistently updating their products and offering novel solutions to port customers. Surging frequency of maritime trade will substantially fuel global port equipment market size, which is slated to exceed USD 9 billion by 2025.
Author Name : Riya Yadav
IDS / IPS market to accumulate substantial proceeds from transportation and logistics applications, global industry to be characterized by the launch of advanced threat detection systems
The increasing threat of data breaches and rising proliferation of digitalization have been responsible for driving intrusion detection system market share in the recent years. The last couple of decades have witnessed the technology landscape across various end-use domains to have undergone a massive transformation. Alongside, there has been a vast upsurge in the number of computer networks as well, leading to a major surge in the demand for efficient systems and solutions to counter data threats. The implementation of IDS or IPS in the network system undeniably makes it feasible for the network administrators to assess the accurate location of the threats and then address the same. These systems also help avert further threats from those locations, thereby helping to accelerate the growth graph of IDS/IPS industry.
UK Intrusion Detection System / Intrusion Prevention System Market Revenue, By Type, 2018 & 2025 (USD Million)
Intrusion detection system solutions are known to be rather competent in protecting the integrity of computer networks, maintaining confidentiality, and shielding against malicious attacks prevailing in an organization. IPSs are so designed that they alert administrators about attack attempts, thereby delivering valuable information to businesses about network threats, malicious attacks, devices being targeted and much more. As more and more and more number of companies integrate these systems in their infrastructure to monitor logs and effortlessly extract information to provide further security to their networks, the global IDS industry share is bound to depict an upsurge in the years to come.
For most parts, a score of businesses already boast of having incorporated intrusion prevention systems in their infrastructure. Prominent conglomerates however, thriving in an era defined by consistent digitization and network integration, have been consistently seeking novel solutions by the day to tackle advanced threats and high-level frauds, thereby providing numerous growth opportunities for IPS industry contenders.
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For instance, IBM, a significant IPS market player, boasts of an intrusion detection and prevention system that provides real time security monitoring, a robust network, and efficient analysis of network and services. IBM’s Trusteer pinpoint malware detection system competently detects malware-impaired devices and also governs the type of threat and the potential risks associated with the same. A while ago, by the end of 2018, IBM had also announced its new Pinpoint Verify technology that would provide businesses with an innovative model to combat online frauds with a digital identity trust approach.
Citing an instance of yet another vital IDS market contender, Imperva, it is imperative to state that this company boasts of a suite of cloud web application firewall intrusion prevention solutions that are characterized by features such as two-factor authentication and web application firewall. While the WAF supports the existing IPS through behavioral and reputational heuristics that eradicate malicious incoming requests and other application attacks, the implementation of 2FA gateways for any URL helps choose a verification method and feasibly manage a database of approved users. With the demand for security solutions on a consistent rise, it would not be incorrect to state that IDS industry contenders can look forward to myriad growth opportunities in the years ahead.
The transportation and logistics sector has emerged as one of the most prominent application avenues for the global intrusion detection system market, fueled by the requirement of RFID tags in order to track the location of cargoes from the starting point to the destination. Not to mention, these systems have been gaining traction in this sector on account of the demand for door intrusion and tampering sensors that detect attempts of any type of intrusion in any of the boxes or containers and provide real time monitoring of vehicles and cargoes.
It has been speculated that in the years to come, next-gen IDS solutions will be designed to focus less on recognizing intruders and more toward sensing potentially apprehensive attacks or events. With the help of advanced AI algorithms, IDS market players are expected to brainstorm solutions that will be able to predict attacks beforehand and then provide an effective line of defense as opposed to the traditional approach.
Author Name : Deeksha Pant
How has growth graph of zero liquid discharge systems market transformed on account of Europe’s environment protection directives & APAC’s emerging economies?
The increasing intensity of climate change and the subsequent issue of water scarcity have led to zero liquid discharge systems market gaining substantial significance. Indeed, the system has become an integral component of numerous industrial sectors, consolidating the market into a lucrative investment ground.
U.S. Zero Liquid Discharge Systems Market Size, by End-user, 2014 – 2025 (USD Million)
According to a research by the World Resources Institute, climate change is rampant, turning the world’s hottest regions even hotter. Meanwhile, as the planet warms, clouds are moving away towards the poles from the equator, further depriving equatorial regions such as Central America, sub-Saharan Africa and the Middle East of rainwater. According to the United Nation’s UN Water, the issue of water scarcity is being further exacerbated as rapidly expanding urban areas are placing heavy pressure on water resources nearby, further straining the relationship between water demand & world development.
As these challenges continue to proliferate across the globe, the zero liquid discharge (ZLD) process of water treatment is expected to witness a substantial rise in adoption rates. With more and more enterprises looking to purify & recycle wastewater to dampen their impact on the environment, ZLD systems industry is expected to garner commendable traction ahead..
Role of Europe’s environment protection directives on ZLD systems market
In 2018, the European Commission proposed new rules to promote and facilitate water reuse across the European Union for agricultural irrigation. These steps were introduced with the sole purpose of alleviating the pressure of water demands on natural water sources.
The Numbers: According to a recent infographic posted by the European Commission, the challenge currently grips approximately 11% of the European population, severely impacting over 17% of the European Union’s territory.
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Moreover, the challenge of water scarcity is no longer confined to a select number of regions across Europe and has started to rapidly become a major concern across the EU. In fact, water scarcity & stress is slated to affect approximately 50% of Europe’s river basins by 2030.
The Potential: The European Commission has identified that the EU needs to manage its water resources in a more efficient manner and an effective way to achieve that efficiency is to treat recycled water from ZLD systems as an alternative water supply source. In 2018, the Europe ZLD systems market raised over $1.5 billion in revenues, having treated more than 40,000 million m3 of waste water, however, the continent only reuses 964 million m3 of the treated wastewater.
The potential for additional uptake is quite massive, as the region could reuse more than six times the volume of recycled water that is used currently, presenting a substantial opportunity for the growth of the regional ZLD systems market.
Impact of APAC’s developing economies on ZLD systems market
The Asia Pacific is home to a majority of the earth’s population & houses two of the world’s fastest growing economies; China & India. Apart from these two countries, the region is also home a number of developing nations.
According to a report by China Water Risk (CWR), the adoption of ZLD systems in China is being fueled by the unlikeliest of factors – the nation’s thermal power air pollution reduction process, which produces complex and extremely hard to treat wastewater as a byproduct. Moreover, unless a power plant is air cooled, water is by far the most prominently used cooling solution in China, which accounts for approximately 70% to 80% of wastewater volumes.
Driven by such copious availability of waste water, ZLD systems are gaining considerable traction across many industrial sectors across the nation, providing further growth opportunities for the regional ZLD systems market players.
According a report by Global Market Insights, Inc., propelled by severe environmental challenges and the ongoing economic development of several nations like India and China, the global ZLD systems market is projected to surpass the $9 billion renumeration mark by 2025.
Author Name : Akshay Kedari
Unveiling the application terrain of SD-WAN market: escalating demand from the manufacturing sector to drive the industry landscape over 2019-2025
The SD-WAN market has lately been growing at a significant pace, characterized by the robust adoption of these solutions across a spate of industry verticals, given their ability to help organizations regarding their legacy infrastructure maintenance. The traditional infrastructure of WAN is known to rely extensively on costly hardware appliances for providing connectivity in remote locations. However, organizations have now been able to reduce those expenses by deploying SD-WAN solutions. Moreover, the solutions also assist enterprises in directly connecting remote users and devices to the cloud and ensuring secure connections.
North America SD-WAN Market Revenue, By Application, 2018 & 2025 (USD Million)
SD-WAN solutions also provide the companies with improved network visibility, and help in reducing network complexities of managing dynamic workloads. By utilizing SD-WAN solutions, organizations can benefit from cost reduction and secure connections, which in turn will propel the commercialization landscape of SD-WAN market in the years to come.
The penetration of smart IoT devices in varied industry verticals, including retail and consumer goods, telecom, manufacturing, and healthcare has substantially increased security risks and network complexities. SD-WAN solutions play a vital role in this context, given that they help improve network visibility for the management of connected devices for reducing security risks, and address the complexities of the IoT infrastructure. The prevailing AI-enabled SD-WAN solutions would also boost the demand for SD-WAN as machine learning algorithms are broadly utilized for WAN optimization. This would further enable network administrators to analyze WAN traffic and re-route the same, automatically, for the selected connection. The capability of SD-WAN has thus proved useful across a spate of verticals, expanding the application scope of the global SD-WAN industry, a gist of which is given below:
In the recent times, some of the biggest banks across the global industrial cosmos have cropped up as leading financial organizations which provide a wide range of services to international markets, and control billions of dollars in assets and cash. Financial service firms have been relentlessly working to capture new market opportunities, implement innovative strategies, develop customized services, and identify new business niches.
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This sector, in the years to come, is anticipated will become even more complex with further diversification, deregulation, consolidation and globalization of the financial industry. Irrefutably, this complexity in the BSFI industry can be effectively addressed only by deploying SD-WAN solutions, which will augment the SD-WAN market share from BFSI applications in the coming years. Of late, the modern banking industry is also remnant of extensive diversification, as is observed by the penetration of some select banks in the domains of core investments, security underwriting, insurance, and portfolio management. With banks and other financial institutions widening their service portfolios, working to evolve as vital entities in the global business landscape, SD-WAN industry size from BFSI applications is expected to surge massively, given the humongous demand for these solutions to reduce complexity and costs.
The manufacturing sector is anticipated to emerge as one of the most profitable application avenues for the global SD-WAN market. Undeniably, this growth can be credited to the surging popularity of IoT platforms deployed in manufacturing industries. With more and more smart devices and sensors being incorporated in manufacturing facilities, companies are, quite overtly, demanding accurate solutions that are able to deliver exceptional network visibility for end-point management.
Driven by the fact that SD-WAN solutions help manufacturers prioritize network traffic and simplify network management, in a bid to make sure that crucial applications obtain access to the required connection, the manufacturing sector is touted to majorly contribute toward the expansion of SD-WAN industry. As the deployment of more and more communication technologies and IoT devices in the manufacturing industry increases, the demand for SD-WAN solutions will naturally depict an upsurge, propelling SD-WAN industry size from manufacturing applications. As a matter of fact, Global market Insights, Inc., claims that software-defined wide area network market share from manufacturing applications will depict the highest CAGR of more than 60% over 2019-2025.
Retail and Consumer Goods
Retail enterprises using SD-WAN are naturally equipped with the capability to supplement and expand their backbone connectivity, with more options available in a particular location, ranging from broadband to LTE. Along with making the process of adding bandwidth in a site easier, SD-WAN manages conditioning and prioritization of traffic, for improving application performance even further – a major parameter of concern in the retail industry that has been undergoing an extensive digital transformation of sorts.
In the 2017 Cloud and Network Benchmark of Nemertes Research, which involved 625 organizations, it was stated that over 50% of more successful retailers have started deploying SD-WAN, in contrast to the 10% among the less successful ones. As retailers intend to eliminate unnecessary capacity and functionality expenditure, they have been demanding WAN solutions that can accurately leverage NFV and SDN to run on generic hardware and deal with flexible deployment of capacity and functionality. This would substantially augment the requirement of SD-WAN solutions in the retail sector, that secures service continuity via myriad techniques – right from traffic replication spanning multiple paths to sub-second traffic cutover from a failing to a healthy link, thereby propelling SD-WAN marker share from the retail and consumer goods sector.
Endorsed by a mammoth application terrain, the global SD-WAN market is expected to traverse alongside a highly lucrative remuneration graph in the ensuing years. As per estimates, the valuation of the overall SD-WAN market would cross a colossal US$17 billion by 2025.
Author Name : Saurav Kumar
GPU market to garner extensive proceeds from gaming applications, global industry remuneration to hit a coveted $80 billion by 2024
The rapidly growing adoption for high-precision, graphics-oriented applications in the automobile and healthcare sectors is certain to fuel GPU market growth in the forthcoming years. GPUs have become an essential part of today’s mainstream computers and mobile devices and have been characterized by remarkable advancements with respect to performance and capabilities. The product successfully offers added support for analyzing complex datasets in a quick manner and is increasingly gaining traction in almost all consumer electronics straight from laptops, PCs and smartphones to car infotainment systems and latest digital systems.
Asia Pacific GPU Market Revenue, By Region, 2017 & 2024 (USD Million)
With the growing adoption of IoT devices that gather huge amounts of data which needs to be monitored and analyzed, the demand for high-end computing systems has effectively increased in the automotive sector. Reports suggest that the GPU market will amass quite some returns from the automotive sector owing to an increase in the use of GPUs to accelerate engineering and design applications. As the automotive industry is focusing on developing new vehicles with enhanced design & functionality, GPUs have found applications in CAD/CAM software. With the rising demand for these software increase, the GPU market is expected to witness an accelerated growth rate in the years to come.
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Another application vertical that will help propel GPU market is healthcare, owing to the demand for precision medicine and value-based healthcare. Real-time data has become more vital for healthcare organizations as clinicians seek more accurate information for diagnosing patients during their initial visit. Reports claim that healthcare providers and life science firms are among the 92% of the cross-industry organizations that plan to invest in near real-time big data analytics applications in the future. For instance, in April 2018, tech giant Google announced plans to reinvent the healthcare industry of U.S. with a focus on big data and AI. The company is reportedly using its know-how in AI to create a new system for the detection, diagnosis, and treatment of diverse diseases, that certainly will require GPUs for processing complex data, further augmenting the growth of the GPU industry.
Irrefutably, the gaming domain will be one of the most proliferating end-use sectors of the global GPU market. Mobile gaming is currently acknowledged as one of the fastest growing segments in the game industry – indeed, mobile users demand more immersive, connected gaming experience which provides high-resolution visual graphics and high-fidelity audio. Growing penetration of smartphones and tablets is also fueling the growth of the gaming industry. For instance, according to the ESAC Report 2018, in Canada around 80% users view video games as mainstream entertainment. Furthermore, reports from the Germany Trade & Invest cite that, in Germany, personal computers (PCs) stand as the most preferred gaming platforms with around 18.4M active users, followed by smartphones (17.2M), consoles (15.6M), and tablets (11.5 million).
The rapidly growing use of gaming devices and the paradigm shift towards online gaming are bound to upsurge the demand for high-end graphic processors to support gaming applications. As per estimates, the gaming sector is anticipated to hold a major share of 34% in the GPU market by 2024.
Some of the most preferred brands that have made a mark in the GPU industry include Nvidia, AMD, Intel, Microsoft, Google, IBM, PTC, Qualcomm, and S3 Graphics. GPU chip makers have been making heavy investments in addition to forging partnerships for developing new and better performing products. For instance, in January 2019, Nvidia announced its partnership with luxury carmaker Mercedes-Benz to develop a new automotive AI platform that could effectively offer control to the automaker’s electronic gears equipped in its new car segments.
Author Name :Mateen Dalal
Scrubber-based marine emission control system market to register increased traction over 2018-2024, China to emerge as a prominent regional contender
Rising emissions from marine engines & growing environment concerns owing to degrading air quality will drive marine emission control system market growth in the years to come. Reportedly, oceanic vessels contribute to a majority of the pollution in the coastal environment – around 8%-12% of the global NOx emissions and around 40% of global NOx emissions from transport of freight mean. Having taken into consideration these alarming statistics, in 2008, the International Maritime Organization (IMO) launched a directive for controlling emissions from diesel engine vessels, built or installed on and after 1st January 2016. The directive also specifies a global sulfur limit for reducing the sulfur content in fuel to 0.5%, that will go into effect from 1st January 2020. The presence of a strict regulatory landscape will thus prove to be one of the preeminent driving factors of marine emissions control system market.
Europe Marine Emission Control Systems Market Size, By Application, 2017 & 2024 (USD Million)
The growing number of trade activities along with advancements in emission control technology will also serve to boost the demand for marine emission control systems. Globally, around 85% of goods are transported using maritime routes. In almost 70% of the cases shipping is carried out within 400 km from the coastline, influencing the air quality within several hundred kilometers from the coast. The most widely adopted propulsion systems used by these ships are two or four strokes diesel engines, which apparently consume large amount of heavy fuels.
Estimates from the U.S. Energy Information Administration, 2011, cite that the merchant navigation sector alone accounted for about 1.75% of the total energy demand and about 5% of the global crude oil consumption back then. Also, ships were recorded to manufacture around 15% of the global NOx (the world’s buses, cars, and trucks combined), 2.5% – 4% of greenhouse gases, and between 3% – 7% of global SOx output and 5% of black carbon emission. Quite overly, these figures reveal the overall impact of the maritime segment on global atmospheric pollution, which has led to a spike in the demand for marine emissions control systems.
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Reportedly, in a bid to reduce the environmental footprint of ships, the IMO has also tightened the regulations on NOx and SOx emissions from marine engines. As measures to reduce NOx emissions, emission control systems like exhaust gas recirculation (EGR) and selective catalytic reduction (SCR) have been adopted. For reducing SOx emissions however, scrubbers have been intensively deployed to lessen the sulfur content of fuel oil.
Scrubber marine emission control systems market to thrive over 2018-2024
Scrubber units are typically used for high dust configurations and are more efficient when coupled with fuel switching. By mounting an exhaust gas cleaning system like a SOx scrubber, ship-owners can efficiently operate on low-priced, heavy fuel oil and still be compliant with IMO’s SOx emission regulations. Sources suggest that, from 2020, the demand for exhaust gas cleaning systems, like SOx scrubber, will increase as to compliment stringent SOx regulations that exhibit a global 0.5% limit on SOx and 0.1% limit on ECA emission.
The ability of hybrid scrubber systems in particular, to treat high temperature and gas streams along with increasing R&D initiatives toward green shipping will also positively impact the scrubber-based marine emission control system market share.
Speaking of the geographical penetration, marine emission control system market has been touted to amass substantial returns from China. This is prominently on account of the newly imposed regulations favoring the installation of these products. Reportedly, to improve the quality of domestic shipping and endorse environment friendly development of marine transport within China, the Chinese Ministry of Transport, on 3 July 2018, published new requirements for controlling nitrogen oxides (NOx) emission. The standards will be applicable to both newbuild vessels (after July 2020) and ships in operation (after July 2021) and will further be imposed on ships particularly involved in Chinese domestic trade.
Powered by moves such as the aforementioned and the rising number of cross-border tax inversions and M&As, the demand for these systems has been considerably rising in this APAC economy, thereby augmenting China marine emission control systems industry.
A plethora of marine emission control systems including SCR, EGR and scrubber are sulfur, nitrogen & particulate matter abatement technologies, are lately being deployed across engines & boilers to restrain emissions. The implementation of scrubber systems specifically, will observe an upsurge in demand owing to reduced payback period and long-term operational flexibility. The growing demand for sustainable systems along with stringent government initiatives will thus positively impact marine emission control systems market size, slated to cross USD 14 billion by 2024.
Author Name : Mateen Dalal
Optical sorter market to accrue hefty gains from the food sector, rising proliferation of innovative products to impel the industry growth over 2018-2024
The increasing deployment of sorting machines for improving plant productivity has been propelling optical sorter market share. The shortage of labor and surging need to handle more quantity of products in a less time are a couple of the most prominent causes behind the increasing deployment of sorting machines. In recent years, the optical sorter has emerged as one of the pioneering products to handle grains, pulses, spices, beans, rice, nuts, fruits, vegetables, and plastics. The capability of this device to sort the products based on their shape, color with high efficiency, excellent precision, and performance is poised to expedite optical sorter industry outlook considerably.
Germany optical sorter market, by application, 2017 & 2024 (USD Million)
The commitment of key players in the optical sorter market toward innovation, superior manufacturing, and intelligent design will have a notable influence on future product demand. Recently, the leading food sorter manufacturing company, TOMRA Sorting, Inc., has revealed its plan to launch innovative sorting machines at Pack Expo. TOMRA has been working to resolve customer issues with its new product launches to enhance its customer base. With this recent launch, it seems to have resolved the issues pertaining to the food processing companies that had been struggling earlier to filter out foreign materials like stones, wood, metal, glass, and plastics from vegetables and potato products. The company claims that the newly developed machine will filter 98% of all types of filtering objects. The incidence testifies that the innovative capabilities of the companies to fulfil the customers’ needs with their high standard products is likely to stimulate the optical sorter market share from the food industry over the years ahead.
The advent of next-generation technologies such as the Internet of Things (IoT), and Artificial Intelligence (AI) also has augmented the product development strategies of optical sorter industry contenders. Considering the ease of use of technologically advanced sorting equipment, several end-users have been deploying sorting machines on a large scale. For instance, in the middle of 2018, the UK based waste management company, Viridor has invested nearly 445,000 pounds to upgrade its plastic processing facility with the deployment of the robotic sorter. This robotic sorter can be utilized to purify PET plastics by filtering metals and other kinds of contamination pertaining to the integration of AI-powered vision systems.
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Speaking along similar lines, in order to resolve the issue of the labor shortage, U.S. based Diamond Fruit Growers has recently invested to deploy its first ever optical sorting line specially designed for pears. The Italian company, Unitec has also engineered an optical sorter with the integration of software that can minimize the damage by sorting out fruits based on their grade and size without scuffing. The use of such machines to handle a plenitude of products at the food processing facilities will help companies to handle more volume with less labor. Continuous investments in technology by prominent end-users to handle a large volume at a time is likely to propel optical sorter market trends.
In addition to food processing, the mining sector is a pivotal revenue generating ground for optical sorter market players that have been incorporating new features into existing models. They have also been enhancing the design features of the products to improve its wear-resisting capability and ease of maintenance. Taking into account the extended life cycle of the products, most of the mineral and metal ore extraction industries have been deploying modern optical sorters on a large scale which will have a positive influence on the market growth. For the record, in 2017, the mining industry held a 15% share of the optical sorter market.
Growing availability of highly advanced product ranges will propel the optical sorter industry outlook over the years ahead. In addition, increasing awareness among the end users about the cost-effective returns obtained from the automated processes at the workplace will also have a notable influence on the product demand. For the record, by the end of 2024, optical sorter market will surpass revenue collection of USD 3 billion.
Author Name :Sunil Hebbalkar