Technology

Trends in Metal Fabrication Market; Global Industry Analysis, Share, Growth, Trends, and Forecast 2024

A new market research study has recently been published by Transparency Market Research and made available on the company’s website. The research study, titled “Metal Fabrication Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” offers a comprehensive analysis of the market, focusing on the growth prospects and opportunities. As per the research study, the opportunity in the global metal fabrication market was pegged at US$16.35 bn in 2015. This is forecast to be worth US$21.38 by 2024, expanding at a CAGR of 3.0% therein.

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Welding it together
DOVER AIR FORCE BASE, Del. — Airman 1st Class Jonathan Trammell welds a part on the remodeled mortuary transfer vehicle. Airmen from the metal technology shop here redesigned the inside of the truck to increase the capacity from two to six transfer cases. Airman Trammell is assigned to the 436th Equipment Maintenance Squadron. (U.S. Air Force photo by William M. Plate Jr.)

Revenue Generated by Metal Welding Services Higher than that of Any Other Segment

By service, metal welding accounted for the lead share in the global metal fabrication market with a share of just over 14% in 2015. However, machining services are anticipated to witness rapid growth in the coming years, registering a 4.1% CAGR from 2016 to 2024. Based on end use, the construction sector held the dominant share in the metal fabrication market in 2015 and is anticipated to retain its lead throughout the forecast period. The manufacturing industry, on the other hand, is projected to expand at a rate higher than any other end-use segment.

Geographically, Asia Pacific is the leading market for metal fabrication and in 2015, accounted for just under 43% in terms of revenue. North America will register a 4.8% CAGR during the course of the forecast period, higher than any other regional segment.

Rising Popularity of 3D Metal Printing a Major Threat

“The rising demand for iron and steel by European and American construction and automobile industries has led to the rising significance of metal fabricators across these regions,” states the author of the study. Substantial spending on industrial projects, the development of industrial infrastructure, and interest rate cuts by centralized banking authorities of India have helped promote the demand for steel in the construction sector, thereby driving the demand for metal fabrication. There has also been continuous growth in global permanent modular construction (PMC) activities over the past few years and this is anticipated to drive the market for metal fabrication in the near future.

On the flip side, the growing popularity of 3D metal printing poses a major threat to the development of the metal fabrication market. “Three-dimensional metal printing has become a widely acclaimed technology for metal additive manufacturing,’ the lead analyst states. Today, 3D metal printing has gained extensive usage in the aerospace, automotive, and marine sectors, owing to its high quality adherence and high-precision machining operations. This adoption is being viewed as a hindrance to the trajectory of the metal fabrication market, specifically in developed economies.

Research Report can be Viewed at http://www.transparencymarketresearch.com/metal-fabrication-market.html

This review is based on the findings of a TMR report titled “Metal Fabrication Market (By Service – Metal Welding, Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Rolling, Metal Folding, Metal Punching and Metal Stamping; By End Use Industry – Construction, Automotive, Manufacturing, Energy & Power, Electronics and Others; By Geography – North America, Europe, APAC, MEA, and Latin America) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

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Technology

Smart Cities Market – Smart Electronic Waste Management Likely to Emerge as Key Contributor

global-smart-cities-marketElectronic waste, a byproduct of the firm establishment of the digital age, has become a major concern in present times. Since most electronic waste is nonbiodegradable, it pollutes the environment when dumped and can present health hazards to the wildlife around the site. This has led to the need for smart waste management systems that can automate the recycling process of electronic waste and properly dispose of the remainder. This is likely to become a leading contributor in the global smart cities market in the coming years.

By application, the smart cities market was led by the smart transportation sector, whose contribution to the smart cities market is estimated to be US$140.8 bn by 2016 and rise to close to US$216 bn by 2019. Apart from smart transportation, smart security and smart industrial automation are likely to receive increasing demand in the coming years.

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In terms of geography, the solid government support to smart city technologies in North America is expected to help the regional market retain its dominant share in the global market in the coming years. The increasing use of advanced traffic management systems in North America is likely to be crucial to the market’s growth.

The global smart cities market is expected to be valued at US$1,265.85 bn by 2019 due to the solid growth prospects for it across the world. The information presented in this review is based on a Transparency Market Research report, titled, ‘Global Smart Cities Market – Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.’

The competitive landscape of the global smart cities market features a number of players operating in various areas of smart city development. Of these, Siemens AG, IBM Corporation, and ABB Ltd. have wide product catalogs spanning several areas of smart city technology. The market is likely to remain extremely competitive in the coming years due to the entry of several new players, who can be accommodated due to the abundant availability of raw materials and increasing government support to smart city infrastructure.

Increasing Environmental Awareness Likely to Benefit Smart Cities Market

One of the key drivers for the global smart cities market is the increasing environmental awareness among the global population. This has led to significant popular demand for eco-centric smart city projects. Governments have also been supportive of smart city initiatives that aim to reduce wastage and boost the economic development of the city. The development of solar energy as a viable alternative energy source is a key contributor to the growth of the global smart cities market.

The consistent migration to urban areas is another crucial driver for the global smart cities market. The lack of significant economic opportunities in rural areas and the reduction in the amount of arable land have led to many rural citizens moving to cities to seek better economic prospects. This has led to an increasing strain on the natural resources supplying the city, resulting in popular support for smart city solutions, which can reduce the exploitation of natural resources while keeping the economic development intact.

On the other hand, concerns about the security of the data collected in order to implement smart city infrastructure persist due to the increasing occurrence of cyber-crime. The consistent technological advancement in the smart cities industry is likely to lead to the development of systems with comprehensive security features, but some risk of data leaks is likely to remain due to the dynamic nature of malware and hacking.

Technology

Rapid Urbanization in Emerging Markets to Continue Driving Demand for Actuators and Valves Market, finds TMR

The opportunity in the global actuators and valves market stood at US$74.37 bn in 2015 and is anticipated to be worth US$124.30 bn by 2024. If these values hold true, the market is projected to expand at a 6.0% CAGR during the forecast period.

The global actuators and valves market is immensely fragmented with the 10 leading players accounting for a mere 20% of the global market in 2015. Transparency Market Research has observed a high degree of competition in the market owing to the presence of a large number of players. This can be attributed to the fact that most leading companies have been engaged in acquiring smaller vendors in order to gain market share. For instance, in 2015, Schlumberger Limited acquired Cameron International Corporation in order to expand its product offerings.

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While the threat of substitutes in the actuators and valves market is nil, the threat of new entrants is also rather limited. “High entry barriers such as increased capital investments curbs the threat of new players,” the author of the study states.

Valves Emerge as Clear Leader in Actuators and Valves Market by Type

By type, the actuators and valves market is led by valves and the segment accounted for a massive share of just under 75% in 2016. On the other hand, the actuators segment is expected to contribute the leading CAGR of 5.89% during the forecast period. While ball valves dominate the overall valves segment, pneumatic actuators hold the leading share in the actuators segment. Based on end-use industry, water and wastewater treatment held the dominant share in 2016.

On the basis of geography, Asia Pacific held the leading share of just under 40% in 2016, followed by North America. The APAC market for actuators and valves is projected to register a 6.9% CAGR during the forecast period, emerging as one of the most attractive regional segments by 2024.

Technology

Rising Interest in Big Data analytics to Fuel Demand for Predictive Analytics Market

The rising use of predictive analytics across various industries such as insurance, banking, financial services, government, telecom and IT, pharmaceutical, healthcare, energy, logistics, and others has been boosting the global predictive analysis market. As the competition among businesses intensifies further, companies are increasingly seeking predictive analysis and models to analyze historical facts and current data to better understand consumers and their demand.

In a recent report, titled “Predictive Analytics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019” Transparency Market Research pegs the overall value of the global predictive analytics market at US$2.1 bn in 2012 and the market is anticipated to reach US$6.5 bn by the end of 2019. If the figures hold true, the global predictive analytics market will exhibit a robust CAGR of 17.8% between 2013 and 2019.

Predictive analytics is a business intelligence technology that provides a predictive score for each organizational element such as the customer. The process uses numerous modelling techniques and statistics and utilizes business intelligence tools, data mining, and machine information to present forecasts. Applied to business, predictive analytics helps in analyzing the historical facts as well as current data to identify the potential risks and opportunities for any company.

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To study the prevailing competitive landscape of the market, the report studies the key enterprises operating therein in terms of company overview, financial overview, product portfolio, business strategies, and development status. A few of the companies profiled in the report are Information Builders Inc., International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, Teradata Corporation, SAS Institute Inc., TIBCO Software Inc., and Fair Isaac Corporation. Despite the presence of several well-known companies, the market has been monopolized by the top five players, who held over 80% of the global predictive analytics market in 2012.

Technology

Future of Global Industrial Robotics Market Lies in Semiconductor Industry, Finds Transparency Market Research

The global market for industrial controls and robotics is anticipated to develop at a CAGR of 5.6% during the period from 2013 to 2019. The market was worth US$102.02 bn in 2012 and is expected to touch a valuation of US$147.7 bn by the end of the forecast period.

North America Remains a Key Region for Growth of Global Industrial Controls and Robotics Market

Presently, the Americas is the target region for the market players to maximize their profits. In 2012, the region accounted for the highest share in the market, followed by Asia Pacific and Europe. “The rapid adoption of new technologies and the growing demand for large-scale production and re-engineering in the industrial sector are the primary factors backing up the growth of the market across North America,” a TMR analyst cites.

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Among the major end-user industries, the automotive industry contributes the highest towards the growth of the global industrial controls and robotics market. However, the market players are shifting their focus on the semiconductors industry as it is projected to register the fastest growth during the forecast period. “The requirement of high degree precision with rapid production in the semiconductor industry can be addressed by industrial controls and robotics solutions,” TMR report mentions.

Low Cost Labor across Developing Economies to Hamper Growth of Global Industrial Controls and Robotics Market

The growing demand for minimum turnaround time across the manufacturing sector has aided the extensive usage of industrial controls and robotics. The implementation of industrial controls and robotics solutions enhances productivity and decreases variable costs. Hence, these solutions are being highly preferred by manufacturers across various sectors. Furthermore, keeping in view the introduction of minimum wage policies, manufacturers prefer using industrial controls and robotics solutions to enhance the performance of hazardous tasks while involving lesser manpower.

However, the high initial investment regarding the set up of industrial controls and robotics plays spoilsport in the growth of the market. The availability of low cost labor across developing countries has also restricted the expansion of the global industrial controls and robotics market. The market holds a significant growth opportunity with the rising demand for customized products. “The empowerment of small and medium enterprises in emerging economies will offer ample opportunities for the market’s growth,” TMR report states.

The competitive landscape of the global industrial controls and robotics market consists of players such as Schneider Electric SA, Kawasaki Robotics, Omron Corporation, Rockwell Automation Inc., Siemens AG, Mitsubishi Electric Corporation, and Invensys plc. The key players have significant scope of growth across the emerging economies such as India and Brazil, says Transparency Market Research (TMR) in a new report.

Governments in these countries are taking various initiatives to strengthen the manufacturing sector by improvising productivity. These countries usually import machines, technology, and components from developed countries such as France, Japan, and Germany. As a result, the emerging economies pose as an open market for the key players to increase their viability on a large scale.

Technology

Smart Airports Market to Grow Exponentially due to Dramatic Increase in Airline Passengers

passenger-traffic-122999__180The rising demand for automated and self-service processes is currently the major factor bolstering the demand for smart airports globally. During the recent years, there has been high growth in the number of self-service solutions at the airports including bag recovery, check-in, and flight rebooking. The market’s growth is also gaining traction with an increased level of passenger traffic and growing level of IT spending across airports. Rising IT spending on airports can be construed as increasing investment by companies to lower their operating expenditure (OPEX) and to deploy modern technologies such as wireless connectivity, automated solutions, and check-in kiosks. However, the high initial investment required for high connectivity and robust infrastructure is among the key factors restraining the market’s growth during the forecast period.

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A new market report has been published by Transparency Market Research entitled “Smart Airports Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024.” According to the report, the global smart airport solutions market was valued at US$7.56 bn in 2015 and is expected to expand at a CAGR of 10.8% from 2016 to 2024, reaching US$19.33 bn by the end of the forecast period (2016-2024).

The global smart airport infrastructure is classified into endpoint devices; communication systems; passenger, cargo, and baggage handling, air traffic control systems; security systems; and others. Endpoint devices are further segmented into sensors, tags, IP phones, and video conferencing. Communication systems for smart airports infrastructure are further categorized into wireless airports, smartphones and tablets, near field communication (NFC), and social media. The passenger, cargo, and baggage handling segment of smart airports infrastructure is classified into IoT-enabled beacons, robots for passenger and baggage movement, common-use self-service (CUSS) kiosks, RFID baggage reconciliation systems, and e-gates.

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The air traffic control systems segment is further segmented into smart systems & scalable air traffic management solutions (ATM), and automated passport controls. The security systems segment is further divided into biometrics, alerts and cyber security, and e-fence & ground surveillance radar and e-tag systems. The others segment for smart airports infrastructure includes navigational, landing aids, digital signage, and airport management software. In 2015, the global smart airports infrastructure revenue was majorly contributed by the security systems segment, which accounted for approximately 49% of the total revenue. On the other hand, the passenger, cargo, and baggage handling systems segment is projected to rise the fastest with a CAGR of 23.9% during the forecast period.

Technology

Premium Messaging Market to Exhibit Remarkable CAGR in Upcoming Years

msgThe market research study, titled “Premium Messaging Market – A2P SMS Market, P2A SMS Market: Global Analysis, Trends, Size and Forecast (2007 – 2017)”, presents a detailed overview of the global premium messaging market and presents a forecast till 2017. The report states that the market, which had a valuation of US$165.9 bn in 2011, reached US$236.9 bn in 2012, and US$1,134.2 billion by 2017, expanding at an unprecedented 36.6% CAGR between 2012 and 2017.

Premium MMS (PMMS) to Exhibit Remarkable 40.7% CAGR from 2012 to 2017

The global premium messaging market is segmented into two product categories, which include premium MMS (PMMS) and premium SMS (PSMS). Of these, the PMMS segment is anticipated to grow rapidly in the coming years, exhibiting an explosive 40.7% CAGR between 2012 and 2017. On the other hand, in 2012 the PSMS segment held the largest share of the global premium messaging market that accounted for 86.2% of the total volume and is further projected to reach 907.9 billion by the end of 2017.

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The PMMS and PSMS segments are further sub-segmented into application to person (A2P) and person to application (P2A). The A2P premium SMS (PSMS) accounted for the largest share of PSMS, holding 66.8% of the total PSMS segment in 2012.

Entertainment Industry to Lead the Global Premium Messaging Market 

The global premium messaging market finds its application in varied industries such as BFSI, retail, hospitality, shipping and logistics, entertainment and media, and outsourcing.

Among all these industries, entertainment is the prime focus of the global premium messaging market. Premium messaging in entertainment industry is widely used for value added services such as downloading songs, participating in TV voting, downloading ringtones, videos, and games. If compared with the standard messaging services, the premium messaging market is the fastest growing industry in terms of revenue generation.

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South America to Witness Rapid Growth in the Coming Years 

The global premium messaging market has been further segmented geographically into regions such as Asia Pacific, Europe, North America, and Rest of the World.

The global premium messaging market was earlier dominated by Asia Pacific (including Japan) in terms of volume. However, South America is expected to be the fastest growing segment in the global premium messaging market. The rising growth in this region can be attributed to the tremendously increasing popularity of mobile phones as a tool for marketing and the technical advancements of mobile networks across the region. In 2011, the total traffic of the global premium message market was worth US$86.1 billion.

The global premium messaging market has moderate competitive landscape. mBlox, openmMarket, and Sybase are among the few established players of the global premium messaging market. Some of the other payers operating in this market are Beepsend AB, Symsoft AB, Dialogue Communications Ltd., V3Mobi Communications Pvt. Ltd., Aerialink Inc., Jinny Software Ltd., Angkor Data Communications Group Co. Ltd., AMD Telecom SA, Infobip Plt, and Mobicage NV.