Conformal Coating: Global Market to Grow at High CAGR in Upcoming Years – 2024

The global conformal coating market is expected to reach USD 15.92 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for conformal coatings in the consumer electronics and automotive industry ow is expected to drive the market growth over the next eight years.

The market is subject to volatile raw material prices. Increasing concerns regarding high VOC content in these coatings is likely to negate growth. Stringent regulations implemented by various government and federal agencies regarding VOC emissions coupled with rising penetration of water based coatings is likely to have a positive impact on demand over the forecast period.

Growing R&D investments by major industry players to develop unique and innovative products & processing technologies such as selective needle dispensing, ultrasonic coatings and even selective film coatings is expected to simplify application procedure which in turn is expected to increase demand over the forecast period.

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Conformal coating market revenue, by product, 2013 - 2024 (USD Million)

Further key findings from the report suggest:

• Acrylic conformal coating was the largest product segment, accounting for over 40% of the overall revenue share in 2015. Superior characteristics including moisture and dust resistance provided by the product is expected to augment growth. In addition, rising demand for the product in automotive electronics is expected to propel demand over the next eight years.
• Medical application accounted for a little over 16% of the overall revenue share in 2015. The growing demand for imaging and therapeutic devices is expected to drive market growth for the product in the industry. Growing use of the product in medical electronics in order to reduce risk of corrosion and heating is expected to drive growth.
• Automotive industry accounted for over 20% of the total share in 2015. Technological advancement and utilization of electronic devices for entertainment, GPS and safety system is expected to aid automotive devices market demand which in turn is anticipated to augment conformal coatings growth in the industry.
• Asia Pacific to account for over 55% of the overall revenue share in 2015 on account of the presence of OEMs of European and American market players. China plays a vital role with respect to manufacturing of electronics owing to inexpensive labor cost and low raw material cost on account of which China is expected to contribute to over 50% of the total Asia Pacific market share.
• Key players in the industry include Henkel AG & Company, KGaA, Shin-Etsu Chemical Co., Ltd., DOW Corning, H. B. Fuller, Chase Corporation, Electrolube, MG Chemicals and Chemtronics.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Geriatric Medicine Market Is Growing At a Rapid Pace - Market Analysis and Forecast to 2024

The global geriatric medicine market is expected to reach over USD 1,017 billion by 2024 according to a new report by Grand View Research Inc. Increase in the global geriatric population is one of the major challenges for the healthcare industry and the governments across the globe, however, it has proven to be a boon for the geriatric medicine market. 

The high market growth is anticipated on account of the rising prevalence of various target diseases in the geriatric population, the demographic shift, the upward trend in lifestyle-related risk factors, and the significantly improved access to affordable healthcare as well as medicine across the developing and emerging economies. 

The rising prevalence of the Alzheimer’s disease in the geriatric population is expected to serve as a high impact rendering driver for the geriatric medicine market over the forecast period. In 2015, as per the estimates published by the Alzheimer’s disease International, nearly 47 million people have dementia and this number is expected to double after every 20 years. Furthermore, as per the estimates published by The Alzheimer's Association, in the U.S., out of the 5.4 million Americans living with the disease, nearly 5.2 million or 96.3% are aged 65 and above.

In order to mitigate the concerns arising due to the unfavorable shift in the demographic variables such as age, lifestyle patterns, economic development, coupled with the upward shift in the disease trends associated with the geriatric population, the developed regions have consistently improved their healthcare practices by allocating high amount of resources towards the healthcare and social development sectors.

For instance, the U.S., Germany, the UK, and Japan allocate 17.1%, 11.30%, 9.10%, 10.20%, of their GDP respectively towards healthcare expenditure and majority of these resources are channelized towards developing new drugs, new software, and building technology platforms for hospitals and home health services.

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North America geriatric medicine market, by therapeutics, 2013 - 2024, (USD Billion)

Further key findings from the study suggest:

• In 2015, analgesic medicine accounted for the highest revenue of nearly USD123 billion. The key factors attributed to include the rising prevalence of various types of pains associated with aging. These pains can be categorized as general body pain, post-surgical pain, muscle pain, acute or chronic joint pain, neuropathic pain, and others.
• In 2015, North America dominated the geriatric medicine market with a revenue share of over 37% owing to the presence of well-developed social and healthcare sectors, the availability of the latest medicine, and insurance coverage coupled with the presence of a large number of people aged above 60 years.
• Asia Pacific region is anticipated to exhibit the maximum growth rate at a CAGR of over 7% from the year 2016 to 2024. In comparison with the developed regions, the economic burden of the target diseases, the access to healthcare, health insurance and the percentage of public and private healthcare expenditures vary significantly in the Asia Pacific countries.
• The countries such as China and India are expected to witness a significant rise in the elderly population base and this factor in turn is expected to create an upward trend in the geriatric medicine market over the forecast period.
• The market dynamics indicate the presence of strong competition amongst the key players such as Eli Lilly and Company, AstraZeneca plc, Boehringer Ingelheim GmbH, Abbott Laboratories., Sanofi S.A., Bristol-Myers Squibb, Merck & Company Inc., Novartis AG, Pfizer, Inc., and GlaxoSmithKline Plc.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Demand of Parking Management Market is Huge and Will Be Same in Upcoming Years

The global parking management market size is expected to reach USD 8,438.4 million by 2024 according to a new study by Grand View Research, Inc. The increased public sector funding and constructive government initiatives are presumed to strengthen the global parking management industry growth. The market is anticipated to experience a surge in the demand for parking management solutions in the commercial and government application segments and is expected to propel the industry growth.

The emergence of smart parking systems helps inefficiently addressing the traffic woes and parking-related issues. The system helps in minimizing fuel usage and consequently reduces automobile emissions. The industry is expected to gain traction due to the development of systems with sophisticated features such as handicapped parking, auto-payment options, and voice guidance enabled through mobile phone applications.

An increasing number of vehicles is impacting the availability of parking lots and is consequently fueling the demand for implementing parking management solutions across the globe. The systems help in making the cities cleaner, greener, and compact. The growing smartphone penetration will benefit the industry by increasing its reach. These parking mobile applications are expected to offer local businesses an opportunity to attract their most potential customers and provide them with the best offers for customers looking for parking.

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U.S. parking management market revenue by application, 2014 - 2024 (USD Million)

Further key findings from the study suggest:

• The government application segment dominated the global parking management industry accounting for over 60% of the market share in 2015. The rising demand for minimizing vehicular emissions and effectively managing on-road automotive is expected to trigger the wide-scale adoption of parking management solutions in the government sector
• The North America regional market accounted for 40% of the overall revenue share in 2015. The rising interest of automobile manufacturers in the U.S. and Canada to develop parking management systems is projected to fuel growth in the region
• The demand for the parking reservation management solution segment accounted for 15% of the overall market share in 2015.This demand is expected to increase in the metropolitan cities as vehicle ownership is increasing, which is leading to parking problems. The parking reservation management reduces traffic congestion issues due to better parking space, reduced search time, cost for parking spaces, and increased parking revenue
• The service segment accounted for 18% of the global market share in 2015. The parking management solution providers, mobile payment companies, and parking data aggregators are changing the way parking is seen by the end-users and operators. This segment includes revenue generated from consultancy services, engineering services, and revenue generated by companies offering parking services through the mobile application. The segment is expected to be the fastest-growing component segment
• The key players in the industry include Amano, 3M, Cubic Corporation, Swarco AG, Siemens AG, Kapsch TrafficCom, Xerox Corporation, and IBM Corporation

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

Location of Things Market Anticipated to Reach $71.6 Billion By 2025

The global location of things market is expected to reach USD 71.6 billion by 2025, growing at a CAGR of 34.07%, according to a new study by Grand View Research Inc. The increasing penetration of smartphones and enhanced network connectivity coupled with the increasing demand for personalized services are propelling the market growth.

Location of things is an emerging sub-category of the IoT concept that enables connected devices to monitor and communicate their geographic location. Enabled by IoT sensors and location technologies embedded into various connected devices allows organizations and service providers to collect a variety of data over the network. Over the years, a variety of location-based services has been introduced, such as Google Maps, Uber, Waze, and many others, which have been enabled by the ability of a smartphone to locate itself. Location being the most vital dimension of the data collected allows service providers to provide contextual content for each user.

Advancements in connected wearable devices, connected vehicles, connected homes, smart cities, and Industrial IoT (IIoT) are bound to open extensive market avenues for the location of things market in the coming years. However, issues related to privacy and safety along with universally accepted standards are expected to challenge the industry.

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                             Global LoT market, by vertical, 2017 (%)

Further key findings from the study suggest that:

• North America and Europe accounted for the majority share in the location of things market. Advanced infrastructure and accelerated adoption of smart devices along with the presence of major technology players are the key factors contributing to the regional market dominance.
• Mapping and navigation applications dominated the global location of things market with a share of 32.6% in 2017. The introduction of various applications, such as Google Maps, HERE Maps, and Apple Maps, among others, has enabled a variety of location-based services that have led to the segment growth.
• The transportation and logistics vertical segment acquired a major share in the location of things market in 2017, which is followed by the manufacturing and industrial segment. The development of connected car technologies and a variety of logistics solutions have enhanced the operational efficiencies and reduced the time-to-delivery for the transportation sector.
• Asia Pacific is expected to grow at a CAGR of nearly 35.9% over the forecast period. Advancements in technology infrastructure in countries such China, India, Japan, and other developing nations in the region are expected to drive the industry growth in the coming years.
• Increasing investments in IoT technologies and location-based services are expected to drive the growth of location of things market. Key market players include Google, HERE, Qualcomm, Apple, Pitney Bowes, and Bosch, among others.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Heating Equipment Market Trends - Energy Saving Solutions In The Commercial As Well As Industrial Sector

The global heating equipment market is expected to reach USD 48.58 billion by 2025, according to a new report by Grand View Research, Inc. Mandatory government regulations and incentives provided on energy saving solutions in the commercial as well as industrial sector is projected to boost the demand for heating equipment.

Growing disposable income coupled with low-interest rates in several countries has given companies more cash in hand to upgrade their capital equipment in offices, production facilities, and stores. Low-interest rates are expected to augment the growth of this market as it makes it easier to invest in costly equipment upgrades.

Rapidly growing space and water heating requirement in North America, Europe, and Asia Pacific is projected to boost the demand for heating equipment in these regions. Industrial buyers focus on factors such as energy and operational cost savings, maintenance cost, and product lifespan. However, residential buyers seek energy-saving solutions at economical prices.

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Global heating equipment market revenue by region, 2014 - 2025 (USD Million)

Further key findings from the report suggest:

• Technological upgradations and development of energy efficient solutions are anticipated to drive market demand
• Heat pumps were the largest product segment and accounted for over 40% of total revenue in 2015. Heat pumps are of the most efficient as compared to other fuel, gas, and other electric heating systems. Furnaces are expected to witness the highest growth of 5.8% over the forecast period.
• Industrial was the largest application segment with demand share exceeding 55% in 2015. It is also expected to witness the highest growth of 5.7% over the forecast period.
• The growing demand for space and water heating products is expected to aid products growth in residential sector
• Europe led the global industry with demand share estimated at 38.5% in 2015. The favorable regulatory scenario is expected to drive the regional market.
• Asia Pacific is projected to witness the highest growth of 6.2% on account of increasing manufacturing activities in China and India
• Acquiring certifications such as ENERGY STAR, AHRI, and CEE is expected to benefit manufacturers as customer prefer solutions that help reduce their energy consumption cost
• Companies work continuously with their supply base to ensure sourcing of quality raw materials at reasonable prices
• Companies pursue cost reductions through strategies such as consolidating purchases, bidding among potential suppliers, and global strategic sourcing
• Major companies identified in this industry include Danfoss, United Technologies Corporation, Ingersoll-Rand Plc, Lennox International, Inc., Daikin Industries Ltd., Johnson Controls, Robert Bosch GmbH among others

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com