Latest Market Trends

Phenolic Resins Market Projected To Reach Attain Height of USD 16.0 billion By 2025

The global phenolic resins industry is anticipated to witness stable growth owing to rising demand from transportation and construction sector.

The global Phenolic Resins market size was valued at USD 9.30 billion in 2015 and is expected to reach USD 16.0 billion by 2025, with a CAGR of 5.4%. The global phenolic resins industry is anticipated to witness stable growth owing to rising demand from transportation and construction sector. Phenolic resins find their applications in numerous segmentson account of their properties such as good heat resistanceand flame retardancy, low smoke and toxicity, high mechanical strength and easy blending with other polymers to attain high performance. Product demand is expected to rise owing to of increasing use of fire retardant constituents in crucialaircraft and automotive components.

Crude oil is the primary raw material used in the manufacturing of phenolic resins and hence price instabilityis expected to have a direct influence on demand for phenolic resins. In order to ensure conformance to environmental standards regarding formaldehyde emissions, significant funding and investments have to be made and this may slowdown the market growth. However, the positive side is that there is an increasing adoption of nanotechnology in phenolic resins production that aims to improve their functional and structural characteristics and expand their scope of application.

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Product Insights

Novolac resins and resol resins are the two majorvarieties of phenolic resins. Novolac resins, are expected to gain prominence in the forecast period owing to its ability to mould easily. They have a widespread usage across various segments as electrical laminates, hardeners and photo resistors in structural laminates for theelectronic circuit board and aerospace industries

Resol resins constituted for a major chunk of the market share on account of growing demand from wood adhesion and laminates sector. Furthermore, considerable demand from applications such asoriented strand boards (OSB) and production of engineered laminated composite lumber (LCL) also contributed to the large demand for resol resins in the past few years. It is expected to continue the similar trend over the forecast period from 2014 to 2020.

Application Insights

Phenolic resins provide services tonumerous end-use industries such as automotive, aerospace and constructionvia applications in laminates, insulation, wood adhesives and moulding compounds.

Wood adhesives were the dominant application on account of increased use in plywood and particleboard adhesives owing to phenolic resins which form chemical bonds with the phenol-like lignin wood. These products are capable of retaining moisture and hence are preferred for exterior plywood applications.

Moulding compounds are expected witness high growth. This can be attributed to the ability of phenolic resins to providefire safety and amplify vehicular efficiency. Rising demand from the automotive segment is anticipated to play a critical role in the phenolic resins growth over the forecast period. They are used in numerous components in automobiles including cooling system, air supply system brake, suspension, powertrainand fuel system.

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New product developments in molding compounds by the use of carbon fiber or long glass fiber is expected to provide market opportunities in displacing ceramics, metals and filled high-performance thermoplastic resin systems in applications where fuel efficiency and weight reduction play a vital role such as aircraft and industries. Molding materials that contain long fibers and carbon fibers are characterized by newly introduced phenolic reinforced structures that exhibit highmechanical strength and high impact strength at high temperatures for additional displacement of ceramics and metals.

Fiber-reinforced composites with phenolic resins is anticipated to flourish owing to increase in new aircraft by Airbus (787, A380, and A350) and Boeing. Theserequirecargo liners, aircraft interiors,light weight paneling, increased volume in honeycomb manufacture for aircraft and potential use of high-density phenolic foam as a replacement for balsa sandwich panels. Additionally, the development of carbon foam is anticipated to witness expansion into composite associated areas such as light weight paneling and tooling.

Regional Insights

Asia Pacific emerged as the market leader in phenolic resins market on account of widespread use in construction applications and growing consumption of moulding compounds in India and China. China is a large phenolic resins marketand a significant consumer at a global level. Within North America, U.S. is one of the leading consumers in wood adhesive applications of phenolic resins. In addition, demand for thermal insulation productsis expected to be on a rise on account of the legislation implemented in various countries and regional associations for constructing energy efficient buildings. Further, growing use of composites in marine, mass transit and aerospace is anticipated to boost the phenolic resins market.

Competitive Insights

Key market players have expanded their manufacturing facilities to sufficethe growing demand. As an instance, in 2013, Ludwigshafen Verbund site had a new plant set up as a part of BASF modernization and expansion of production facility. Other majorparticipants in the market include Hitachi Chemical Co. Ltd., Georgia Pacific Chemicals LLC, Kolon Industries Inc., SI Group, Inc., Prefere Resins, DIC Corporation, Momentive Specialty Chemicals Inc., Sumitomo Bakelite Co. Ltd., Dujodwala Paper Chemicals Ltd., and Mitsui Chemicals Inc.

Market Segment:

Phenolic Resins Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
• Novolac
• Resol
• Others

Phenolic Resins Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
  • Wood Adhesives
  • Molding Compounds
  • Insulation
  • Laminates
  • Paper Impregnation
  • Coatings
  • Others

Phenolic Resins Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
• North America
• U.S.
• Canada
  • Europe
• Germany
• France
• Italy
• Spain
• UK
  • Asia Pacific
• China
• India
• Japan
• Southeast Asia
  • Latin America
• Mexico
• Brazil
  • Middle East & Africa (MEA)
• Saudi Arabia

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Global Distribution Management Systems Market to Witness Huge Growth by 2024

“Distribution Management System(DMS) is an integrated solution of functionality intended to ably manage and organize whole distribution network. DMS increases smart grid consistency by improving safety and reducing number of outages as well. Superior DMS solution comprises real time monitoring, intelligent power, distribution management and system optimization.”

Distribution Management System(DMS) is an integrated solution of functionality intended to ably manage and organize whole distribution network. DMS increases smart grid consistency by improving safety and reducing number of outages as well. Superior DMS solution comprises real time monitoring, intelligent power, distribution management and system optimization. Distribution Management System application also includes volt/VAR control, planning and advanced forecasting function and FLISR. Distribution Management System application using SCADA and OMS are believed to be superior DMS.

A distribution automation system allows power companies to remotely observe and administer the allocation of power and has ability to increase reliability and offer better management of the power stations or substations or grids. It comprises of control and monitoring systems, data communication infrastructure and distribution automation field equipment. The implementation of Distribution Management System enables efficient management of outage, and also increase the competence of the power grid. For instance, when there is disturbance in the power grid from a conventional power system, a customer informs the service provider about the power disturbance or power shutdown. After which maintenance squad is send off to recognize and repair the trouble. Distribution Management System helps a power utility to predict system instability and act in response to it automatically. Distribution Management System necessitate the setting up of feeder-switching equipment such as fault detection circuit breakers, isolation, recovery technology, recloses and intelligent electronic devices, which have the ability to observe, quantify, manage, and correspond automatically. This assist to decrease the period taken to reinstate power and also decreases the amount of outages.

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The main drivers in this market are the augmentation in the amount of power shutdown. With the escalating requirement for energy, the occurrence of power turbulence and major power shutdowns happening around the globe is expected to pose main challenge over the forecast period for the Power industry, which can only be dealt with by implementing Distribution Management System in the power station. By utilization of distribution management equipment’s such as ring main units, volt-VAR controls, circuit breakers, fault management systems, safety management systems, isolators, load management applications, and station restoration technologies; power shutdowns and fluctuations can be abridged.

This demand for proper functioning of power stations, substations and grid is expected to fuel the growth of global distribution system over the forecast period. Utilities are getting older and their capacities are decreasing. As companies are under pressure to make utilities work efficiently to congregate the rising power demand. This is also expected to boost the demand for distribution management solutions over the forecast period. The automation and intelligence programs in Distribution Management System assist to obtain significant insights, which support operators in making quick decisions. On the basis of the functionality of grid, Distribution Management System can routinely correspond to the ground staff and tell them about the location facing issues.

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They help in making the grid more consistent by plummeting power shutdowns and outages. Some of the other factors that are expected to drive the market over the forecast period are demand for reduced long term operations and low maintenance cost coupled with demand for increasing system efficiency of power grids. The factors that are expected to pose challenge for the market over the forecast period are implementation timeframe, lack of standardization, high initial investment. These factors are responsible for holding back the expansion of Distribution Management System.

On the basis of product type Distribution Management System Market can be segregated into power, quality and efficiency devices, monitoring and control devices, and switching & power consistency equipments. On the basis of end-user Distribution Management System market can be segregated into commercial, industrial and residential segments. Industrial segment is expected to generate maximum share over the forecast period owing to increasing automation in energy allocation in the industries across the globe. Monitoring and control devices are expected to generate higher revenue over the forecast period owing to increasing demand of energy efficient power grids. On the basis of areas Global distribution market can be segregated into North America, Europe, Asia-Pacific and others. Asia-Pacific is expected to show rapid growth over the forecast period owing to increased urbanization in the countries like India and China.

Increase in the implementation of distribution automation, which makes a vital part of power distribution setups, is one of the chief development accountable for accelerating the expansion of the Distribution Management System market in the markets of Asia-Pacific. Global Distribution Management System Market comprises of many players some of them are General Electric Corporation, ABB Ltd, Schneider Electric, Edison Electric Institute, Dominion Virginia Power, Alstom Group, Siemens AG, Cooper Power Systems, American Electric Power and Duke Energy Corporation among others.

Continued………………..

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Solar Powered Drones Market Is Blossoming Worldwide From 2021

“Solar powered drones are commonly called as solar-electrically powered fixed wing unmanned aerial vehicles that display significant flight endurance over entirely electrical or even gas operated aerial vehicles. Under appropriate environment situations, a solar powered drone (UAV) stores surplus energy during day time which then keeps the aircraft powered throughout the night.”

Solar Powered Drones are commonly called as solar-electrically powered fixed wing unmanned aerial vehicles that display significant flight endurance over entirely electrical or even gas operated aerial vehicles. Under appropriate environment situations, a solar powered drone (UAV) stores surplus energy during day time which then keeps the aircraft powered throughout the night. The key driving factors responsible for the growth of solar powered drones market includes demand for heavy surveillance for crime investigations.

Additionally, rising rate of traffic and road accidents have been increasing lately. Heavy endurance capability is particularly a matter of interest for applications such as large-scale mapping, observation or telecommunication relay. Such specifications can be applied in search and rescue (SAR) missions, industrial or agricultural inspection, meteorological surveys, border patrol, air surveillance etc. Technically, a solar powered drone is designed to fly at a low altitude with efficient energy. Batteries are used during flight operations and while batteries are fully charged, excess energy is used to gain potential energy. The airframe design is built in traditional rib-spar construction method.

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The wing’s pivot element is an inner cylindrical carbon-fiber spar used as a resistance to wing loads. Trapezoidal belts comprising four-carbon belts and a varying cross section are attached to the spar to optimally resist bending of solar cells and the main wing can be disassembled into three wing pieces of less than 2mm each. Further, energy generation and storage consists of cylindrical wing spars fitted with high energy density Lithium-Ion batteries to enhance the distribution of mass in a span loader. Avionics is mainly operated around a pixhawk PX4 autopilot which is an open source and open hardware with a Cortex M4 microprocessor running at 168 MHz and 192Kb RAM.

On a commercial scale, innovative technologies coupled with favorable funding for R&D in solar powered drones is a significant dynamic to the solar powered drones market growth. Commercial domains such as energy, entertainment, telecommunications, journalism and governments are now emphasizing on viability of solar-powered drones. Therefore, market dynamics coupled with market driving factors enable fertile opportunities for market growth and sustenance during the forecast period. To monitor the road mishaps and report for timely delivery marks the significance of solar powered drones. The device is also known to deliver stats on number of vehicles passing per day on a particular highway which is again important to understand traffic scenario in a particular area. However, power consumption and limited mode of operation is likely to hamper the market growth during the forecast period.

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On the basis of application, the global solar powered drones market is segmented into energy, agriculture, government & defense, telecommunication, media & entertainment. On the basis of geographic segmentation, the global solar powered drones market spans North America, Latin America, Middle-East, Asia-Pacific and Africa. North America dominates the global market during the forecast period owing to defense and military operations. Latin America is anticipated to grow during the forecast period owing to expansion of solar-powered drone capacities.

APAC market such as India, China, Japan, Australia, Singapore are now turning towards adoption of this technology resulting out of social and security needs. Middle-East and African regions are anticipated to grow at a slower rate during the forecast period owing to slow growth in technological advancements. The key players in the global solar powered drones market include Boeing Phantom Works, Google (Titan Aerospace), and Airbus (QinetiQ), Facebook (Ascenta), AeroVironment/NASA, Lockheed Martin (Hale-D), Bye Engineering, and Atlantik Solar.

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Extremely High Frequency Technology Market Is Burgeoning Worldwide By 2025

Extremely high frequency technology is used in cases where data transmission is carried securely irrespective of the geographical distance. Data can be transmitted via any medium and over any platform.

High frequency technology is used in cases where secure communication is needed along with reliability. Extremely high frequency technology is used in cases where data transmission is carried securely irrespective of the geographical distance. Data can be transmitted via any medium and over any platform. It is also used for navigation purpose in which the data transmitted is received and navigated. U.S. and European regions have been using the technology for over a decade and are largest contributors to the growth of global Extremely High Frequency Technology market.

The technology has been beneficial in providing real-time data to infantry troops and possible threats within the geographical boundaries. As a result of tactical advantages governments are now considering the significance sought by deploying extremely high frequency technologies by investing in them.

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Technically, in comparison to lower bands, radio waves in this band have a high atmospheric attenuation and are absorbed by gases in the outer surroundings. Hence, they possess a shorter range and can be particularly used to communicate in terrestrial environment for about a kilometer. Scientific research, telecommunications, weapon, security screening, thickness gauging, police speed radar are some applications that implement extremely high frequency technology.

From the commercial point of view, the band is specifically developed for military operations. It is unavailable for use in enterprise applications, point-to-point wireless local area networks and broadband internet access. Such factors may hinder the commercial growth of the market but strengthen the defense sector due to high complexities involved. Therefore, the market for extremely high frequency technology is anticipated to grow at a substantial rate CAGR for the forecast period.

The key driving factors responsible for the growth of extremely high frequency technology market includes growing need for efficient data transmission across local, national and international levels. Additionally, characteristics such as uninterrupted data transmission, minimal loss of data while transmission are adding to the growth of market. Moreover, the technology can be used for high level encryption of data by defense agencies of nation are contributing to the market growth. However, unavailability of the technology in commercial segment and enterprise applications for secure data communication is likely to impede the market growth during the forecast period.

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On the basis of type, the global extremely high frequency technology market is segmented into ISR, Navigation and SATCOM. On the basis of products, the global extremely high frequency technology market is segmented into hardware, software and middleware. On the basis of application, the global extremely high frequency technology market is segmented into aerospace, defense and telecommunications.

On the basis of geographic segmentation, the global extremely high frequency technology market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. Europe and APAC dominate the global market in terms of technology. North America dominates the market in terms of revenue. The key players in the global extremely high frequency technology market include Boeing, Lockheed Martin, Northrop Grumman, and Raytheon.

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Global Cardiovascular Therapy Market is Booming Worldwide from 2020 to 2024

Cardiovascular Diseases pertain to the blood vessel and heart conditions that can affect the heart valve, cardiac muscle with the circulation system that monitors the blood flow and distribution and the cardiac electrical system which controls the heart rhythm and rate. These complex systems are taken care of by the cardiovascular therapy device market owing to the increasing number of global population being affected by the above mentioned diseases. The cardiovascular therapy market is expected to grow in the forecast period owing to introduction of improved technologies and devices that provide solutions for Cardio vascular diseases.

Growth in the global cardiovascular therapy market is attributed to factors owing to increasing worldwide prevalence of chronic CVDs and a higher percentage of aging population. Improvements in treatment capabilities in developing markets owing to technological advancements and innovation is expected to have a positive impact on the demand for cardiovascular thereupatic devices in the medical and healthcare sector. Technological advent with respect to therapeutic devices includes development of extended product life, smaller devices, and surgical improvements. Increase in demand is also driven by increased risk factors (diabetes, smoking, obesity, and hypertension) among people

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Key application of in cardiovascular therapy is the hybrid operation rooms market that emphasizes on minimal invasive surgeries. Therefore, Global cardiovascular therapy market is expected to witness a growth owing to increasing demand for minimally invasive surgeries. However, high costs for treatment and safety concerns are major challenges before the market. Cardiovascular therapy comprises of Anti-hypertensives, anticoagulants, anti-arrhythmic, Antithrombotics and Antidyslipidemics. Global cardiovascular market had a sale of $170bn in 2010 and is expected to have a positive growth in the forecast period. With a share of 40% of the total market, the US continued to be the market leader in this segment. Although there has been a decline in the sales of cardiovascular therapy market due to saturation of key drug categories and an increased generic presence, the US witnessed a steady growth in the market since 2009 and is expected to continue the same trend.

Antihypertensives remained the largest drug class in the past few years with global sales of over $37.6bn and an overall market share of over 22%. Angiotensin receptor blockers (ARBs) is expected to remain the most prescribed therapeutic class within antihypertensives driven by key brands such as Cozaar, Diovan, and Avapro. Novartis’s Diovan is the market leader with $3.6bn in sales and the second largest being Benicar with sales of $2.9bn. The anticoagulants segment is expected to witness significant activity over the forecast period owing to introduction of new drugs such as BoehringerPradaxa/Rendix, Ingelheim’s, Bayer-Schering/J&J’s, BMS/Pfizer’s apixaban, Xarelto and Eli Lilly/Daiichi’s Effient which are subjected to intensive R&D activities. Since most of the factor Xa inhibitors are in oral form, they are expected to cater to a wider market.

Crestor is expected to witness a steady growth in the market owing to positive trial results that has the capability to strengthen its market position. The positive trial data is likely to result in higher number of recommendations for cholesterol treatment and capture more number of patients with cardiovascular disorders GlaxoSmithKline’s (GSK) is expected to have the highest growth among leading players owing to the acquisition of Reliant Pharma. Addition of new drugs such as Lovaza in GSKs portfolio is a key factor that can drive the growth in this segment In 2010, Antithrombotics recorded a sale of over $18.7bn and a market share of over 11%. Antithrombitics are forecasted to witness a strong growth in the next seven years owing to increase in the commercialization of recently approved products such as Xarelto, Pradaxa and launch of Pfizer/BMS’s apixabanBetter bleeding profile and superior effectiveness of Brilinta (ticagrelor) over Plavix make it major antithrombotic drug that could be a key player in acute coronary syndrome (ACS).

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A large segment of atherosclerosis patients who do not respond to Plavix can be administered by Brilinta which has a potential therapeutic advantage in atherosclerosis Moreover, its use could be initially confined to acute coronary syndrome (ACS) with no patient monitoring anticipated for postmarketing surveillanceor respiratory or cardiac function requirements. The anti-arrhythmic market is expected to remain a small opportunity as this drug therapy has substantial limitations. New therapeutic standards and benchmarks are expected to be set by Multaq from Sanofi-Aventis owing to its first-line treatment of chronic atrial fibrillation.

Future technologies that are expected to have a positive impact on the market are third generation VADs in cardiac surgery that have the property to easily be implanted, Interventional cardiology that employs innovative therapies such as stem cell therapies and bioabsorbable stents, electrophysiology that focuses on developing implants that does not use lead and advanced endovascular therapy. Key regional segments include Europe, North America, Asia Pacific, Latin Americaand MEAIn 2014, Asia Pacific held the majority of share in global cardiovascular therapy market. Key factors contributing to its large share include prevalence of the target diseases such as hernia and congenital heart diseases. North America is expected to be the fastest growing regions over the forecast period. Health awareness among consumers and presence of improved healthcare infrastructure and pertaining to the availability of new products is expected to increase the use of cardiovascular over the forecast period.

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Circuit Breaker, Fuse and Relay Market Is Blossoming Worldwide From 2021

Significant growth in the global market for circuit breakers, fuse and relays is projected owing to increase in demand for energy in the forecast period. This significant rise in the demand for electricity has led to increasing need for T&D networks which will in turn have a positive impact on the circuit breakers, protective fuse and relay market

The global market for Circuit Breakers, Fuse, and Relays is expected to witness a steady growth owing to their increasing utilization in the power sector. They have several applications pertaining to generation, distribution and transmission of power. Significant growth in the global market for circuit breakers, fuse and relays is projected owing to increase in demand for energy in the forecast period. This significant rise in the demand for electricity has led to increasing need for T&D networks which will in turn have a positive impact on the circuit breakers, protective fuse and relay market. The recent increase in the demand for electricity can be attributed to factors such as rapid industrialization, increasing population, and urbanization.

Key factors such as adoption of automotive electronics are expected to fuel prospects of market growth in the foreseeable future. Increase in the demand for automotive electronics is a significant trend that is expected to drive the demand for circuit breakers, fuses, and relays from the automotive industry. The implementation of electronic components in vehicles facilitates the use of circuit breakers, fuses, and relays for the safety of the electronic components. Due to the popularity of augmented demand for advanced in-car systems such as advanced driver assistance systems, premium audio systems infotainment systems, on-board diagnostic systems, and electronic transmission the global circuit breakers, fuse and relay industry is projected to witness a positive market growth.

With the adoption of circuit breakers, fuse and relay systems spread across various consumer segments with capabilities pertaining to electronic and electric sector, this market is expected to witness an extremely competitive environment. Global circuit breaker, fuse and relay industry is highly fragmented with the presence of large number of small and regional vendors. Need to have a diverse product portfolio and increased market penetration has led prominent vendors in the market to integrate optimized technology into their products.

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A protective relay ensures reliable and safe operation of substations by tripping the circuit breaker in the case of a fault. Rise in the need for modernization of substations propels the demand for protective relays. Growing automated substations market on account of reduced operational costs and improved grid security is expected to boost the growth in the global circuit breaker, relay and fuse industry,

The market on the basis of product is segmented into three categories, Circuit breaker, Fuse and Relay. The circuit breaker product segment is projected to capture an impressive market share owing to growing demand for electricity and expanding T&D networks that will contribute to the growth of this market segment until the end of estimated period. Further, with the rising demand for alternative electrical transmission systems, the market for circuit breakers will have a positive demand until the end of the forecast period. A key substitute for mechanical relay is solid state devices on account of their popularity owing to its ability to interrupt currents that is synchronous to alternating current waveforms. Solid state devices interrupt with high alternating current flow and simultaneously avoid high voltage generation.

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Relays are segmented on the basis of applications into four categories. Feeder protection, Motor protection, Transmission line, and Transformer protection. The feeder protection segment gained the largest market share on account of growing demand for electricity coupled with increasing demand for establishing and revamping distribution and transmission networks. The above mentioned factors therefore have a positive impact on the market and have the ability to propel the demand for protective relays However, high cost of raw materials such as gold and silver used for component wiring are expected to hamper growth.

Dominant players in this market include Americas, APAC and EMEA. Asia pacific was the largest market for circuit breakers, fuses, and relays, and is estimated to retain its market position attributing to investments in the power infrastructure. Growth in construction and automotive market is a key factor that is expected to drive the market growth in Asia Pacific in the forecast period Owing to these factors the growth rate in APAC is expected to reach a rate of over 7%

In the mechanical relays market, APAC was the market leader in 2015, and is expected to contribute to the market with the same trend over the next seven years attributed to favorable developments in distribution and transmission network in countries such as India, China, and the Philippines. Growing market for power generation from renewable sources of energy offer huge opportunities to differentiate their products from other major players in this market and play a key role in the growth of demand of relay market

The market for circuit breakers, fuse and relay market in North America is expected to grow significantly in the future on account of rising demand for electricity. Significant investment in Substantial investments in transmission grid resulted in suppressed need of replacing worn out energy infrastructure. Further, power generation sources such as wind and solar energy would require greater distribution and transmission and investment. This would provide greater avenues for growth opportunities in circuit breakers fuse and relay market in North America

Key vendors in the market include GE, ABB, Siemens, Schneider. Other vendors in this market are Camsco Electric, Honeywell International, Cooper Industries, Itron, Kirloskar Electric, Littelfuse, L&T, Mitsubishi Electric, Rockwell Automation, NR Electric, S&C Electric, Sensata Technologies and Schurter Holding.

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Automatic Speech Recognition Market Is Burgeoning Worldwide By 2025

“With increase in the amount of fraud, organizations realized a need for a robust system which could serve the purpose for fraud management. In this system, a person’s voice is treated as a password for identification and authentication. The main objective of using automatic speech recognition application is to fasten the security system with high accuracy.”

Global Automatic Speech Recognition market is expected to observe a high growth on account of increase in advanced electronic devices usage in the future. One of the major drivers observed in the market is the increasing voice passwords use by consumers. Text passwords are difficult to remember and easy to crack. Moreover, text passwords offer security threats. Therefore, organizations are focusing on adopting biometric passwords in the form of voice which are easy to remember as well as operate by population. Over the past decades, the field of automatic speech recognition was mostly a research topic. As early as 1932, researchers at Bell labs investigated the science of speech recognition.

With increase in the amount of fraud, organizations realized a need for a robust system which could serve the purpose for fraud management. In this system, a person’s voice is treated as a password for identification and authentication. The main objective of using automatic speech recognition application is to fasten the security system with high accuracy. Such an application eradicates the need of a keyboard. Moreover, these applications have contributed to increase in accuracy, response time and efficiency which in turn is expected to drive its demand over the forecast period. Security systems based on voice are efficient in crowd control.

The need for entering correct passwords with keyboard for access results in time delays and long queues. Therefore, automatic voice based security systems are expected to find major applications where crowd control is required. Lack of supporting I.T infrastructure is hampering overall system growth as establishment of automatic speech recognition systems requires highly efficient I.T systems and maintenance. Mindset change is another factor which is expected to restrain global industry growth in the future.

Some organizations are expected to hesitate in implementing new technologies and stick with their old systems. Voice recognition consists of front end and back end techniques. Front end techniques do face a challenge of accuracy and time delay. Therefore, back end recognition technique is vastly used owing to its high precision and speed benefits. These applications require a high amount of accuracy and should be able to handle disturbances or errors generated by noise. These systems also require high voice sensitivity detecting low pitch sounds as well.

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The automatic speech recognition market is expected to contribute to the growth of speech analytics as well. Speech analytics, popularly known as audio mining is used to make meaningful inferences from the words captured. Study of voice based important business related materials are expected to give rise to better decision making related to strategy and operational issues
Global market is segmented on the basis of application areas. These application segments include fraud management, durable electronic goods, military services, healthcare and education. The technology finds its use in banking sectors, military, medical devices and cellular services.

Banks are developing systems which allow transactions enabled through voice based security authentication. Substantial research is being done to implement in the field of military to implement voice recognition systems in high field aircrafts and helicopters. Speech recognition is also used for education purpose by people with disabilities. Other implementation includes home appliances, video games, interactive voice response and robotics. North America followed by Europe accounted for high demand for speech enabled applications. Such facilities require use of voice recognition technology thereby these regions formed a larger share in the global speech recognition market.

Federal government has adopted Electronic Health Records and is expected to increase regional market growth over the forecast period. Asia Pacific region and Middle East region are expected to observe significant growth on account of the presence of developing economies including China, India, Japan and UAE. Africa and South America are expected to observe slow growth on account of lack of technology and language barriers. Major vendors dominating the global market are Agnito, Apple, Auraya Systems, Aurix, Cisco, Google, IBM, LumenVox LLC, Microsoft Corp, MModal Inc, Nuance Communication, Raytheon BBN, Validsoft Ltd, Voice Biometrics Group, Voice Trust AG and Voxeo.

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Nuance Communications, headquartered in Burlington, Massachusetts, USA recently announced its dragon drive connected car platform. This platform gives the automakers privilege to generate voice enables apps and services. These apps can be used to connect with smart devices and systems from behind the wheel. More applications of such kind are expected to come up with development in technology especially in the field of neural network and fuzzy logic. Primarily banks are the major customers of these applications. Among them are ANZ in Asia Pacific, BBVA in Spain, US bank in USA.

These banking institutions believe that voice biometrics provide a better mobile banking experience in terms of safety, accuracy and speed. The market is observing an increasing demand for speech based biometrics for identification purpose. This growth is mainly on account of growing amount of fraud. The vendors must concentrate on cost effective and easy to use automatic speech based applications that cater the need of fraud management.

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Global Business-to-Business (B2B) E-commerce Market is Booming Worldwide from 2020 to 2024

“Business to Business e-commerce market is growing rapidly and changing the buying patterns worldwide. In this system, an online platform is set up where buyers & sellers come together to trade goods and services. Google Shopping and Amazon Supply are contributing significantly in this marketplace.”

Business to Business e-commerce market is growing rapidly and changing the buying patterns worldwide. In this system, an online platform is set up where buyers & sellers come together to trade goods and services. Google Shopping and Amazon Supply are contributing significantly in this marketplace.

Increasing communication facilities worldwide are the key driving forces behind the B2B e-commerce market growth. Increasing adoption of cloud computing is further positively impacting the market growth. There are many private and public cloud computing options which have the capacity to integrate the developing B2B markets. One of these options includes Network as a Service (NaaS), Back-end as a Service (BaaS), Storage as a Service (STaas) and Data as a Service (Daas). These options can be customized as per client’s requirements pertaining to the budget, size of the firm, and specific requirement.

Increasing cases of online frauds and lack of security are the biggest threats to the industry. Further, regulations regarding online payment across the globe are expected to hamper the market growth. Electronic data interchange, Enterprise resource planning, Customer Relationship Management are the further instigating market growth.

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Deployment Model Insights:

The B2B e-commerce market can be classified by using deployment model in to three types, buyer-oriented, supplier-oriented and intermediary-oriented e-commerce. Buyer-oriented B2B e-commerce is in which a buyer opens a market on its individual server and invites prospective suppliers On the other hand, where supplier use his own server for transaction and gets the current sales from a large number of buyers worldwide is called supplier-oriented marketplace. Dell, Cisco, Intel, and IBM are some of the examples of it. Further, when a third party operator sets up a marketplace for buyers and sellers to strike a deal, it is called Intermediary-oriented e-commerce. For instance Covisint is an automotive trade intermediary formed by Daimler-Chrysler group, General Motors, and Ford.

Enterprise Insights:

B2B e-commerce is rapidly changing the business pattern worldwide and helping many small and medium enterprises (SMEs) as well as large firms in their businesses. They help them reach to the remote areas worldwide having business potential. Increasing technological advancements is incessantly helping in cost reduction and speeder transaction, owing to which the B2B e-commerce market is expected to grow over the forecast period.

In addition, SMEs has reduced resources as well as time through the online & offline transaction. As a result of which they have gain the competitive advantages with the help of e-commerce platform further it has helped to improve operational efficiency.

Regional Insights:

In Asia Pacific, rising infrastructure amenities as well as rolling number of internet users are projected to stimulate market growth. Further, the area is anticipated to witness increase in demand for B2B e-commerce business adoption, which can be credited to Smartphone propagation. The U.S. B2B e-commerce market is anticipated to witness augment in demand over the predicted period, which can be credited to the increase of cloud services as well as flourishing B2C experiences that are motivating demand for B2B e-commerce.

Competitive Insights:

Oracle, IBM, Amazon Inc, Alibaba are the key industry participant’s in the B2B e-commerce industry..Axway, Phoenix Biz Solutions, and Techdinamics are some other important players in the market. Companies’ primarily focuses on delivering enhanced experience to their customers which will help them gain higher market share over the forecast period. As the number of players in the market is increasing there is intense competition. Thus, improved customer relationship is key to gain advantage over competitors in the market.

Market Segment:

B2B E-commerce Deployment Model Outlook (Revenue, USD Billion, 2012 – 2020)
• Buyer-oriented B2B e-commerce
• Supplier-oriented B2B e-commerce
• Intermediary-oriented B2B e-commerce

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B2B E-commerce Enterprise Outlook (Revenue, USD Billion, 2012 – 2020)
• SME
• Large enterprise

B2B E-commerce Regional Outlook (Revenue, USD Billion, 2012 – 2020)
  • North America
  • Europe
  • Asia Pacific
  • RoW

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Flue Gas Desulfurization (FGD) Market Attain Height of USD 23.69 billion Worldwide

Global Flue Gas Desulfurization Market is expected to reach USD 23.69 billion by 2020. Across the world, over 75% of electricity is being produced from thermal power plant, however coal contains Sulphur in the range of 0.3% to 1% that varies depending upon origin of location. Sulphur present in the coal after reaction forms Sulphur dioxide (SO2) that is toxic to the atmosphere. To save environment form such toxins, various countries like European and the U.S. countries have strict policy regarding the discharge of Sulphur dioxide that should be less than 0.05%. Therefore, power plants are installing Flue Gas Desulfurization (FGD) plant or unit mainly to lower the Sulphur dioxide in environment.

The Market is estimated to grow at a significant CAGR of 6.0% over the future period as the scope and its applications are rising enormously across the globe. Rising use of coal for electricity generation all over the world, presence of several air pollution control rules, and growing awareness regarding environment safety are documented as major factors of Flue Gas Desulfurization Market that are estimated to enhance the growth in the years to come. However, high cost for the installation of Flue Gas Desulfurization systems and high active waste and energy disposing requirements are the factors that may restrain overall market growth in the coming years. The Market is segmented based on type, technology, end users, and region.

Dry/ Semi-Dry Flue Gas Desulfurization (FGD) System and Wet Flue Gas Desulfurization (FGD) System are the two main types that could be explored in Flue Gas Desulfurization in the forecast period. Wet Flue Gas Desulfurization System sector comprise of seawater, limestone, and others. The Wet Flue Gas Desulfurization System is estimated to remain dominant in the coming years. This may be because of high demand in several industries as they are high efficient to remove sulfur dioxide (SO2) from the flue gas. Also, rules and regulations set by various federal governments, high demand for electricity, and growing number of coal-fired power plants in developing countries are boosting the sector growth.

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Exclusively used enhanced technology includes Brownfield and Greenfield that could be explored in Flue Gas Desulfurization in the foremost period. The market may be categorized based on end users like cement manufacturing, power generation, iron & steel, chemical, and others that could be explored in foremost period. The power generation sector accounted for the largest market share of Flue Gas Desulfurization and is estimated to lead the overall market in the upcoming period. The coal-fired power plants use high sulfur content coal for power generation and high demand for power is boosting the overall sector growth.

Globally, Asia Pacific accounted for the largest market share over 53.9% of Flue Gas Desulfurization and is estimated to lead the overall market in the coming years. The reason behind the growth of overall market could be rising industrial sectors mainly metals and cement companies in developing countries like China and India and disturbing levels of pollution in the region.

Instead, Europe and North America are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share and is estimated to grow at significant share over 2.3% in the coming years. This may be because of government initiative in developing the agricultural sector. However, North America is estimated to grow at fastest pace with the highest CAGR of 3.6% in the foremost period. The aspects that may be ascribed to the growth comprise high demand for electricity in the region and strict environmental policy.

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The key players of Flue Gas Desulfurization Market are Thermax, Alstom S.A., Siemens Energy, China Boqi, Mitsubishi Heavy Industries, Ltd., Babcock and Wilcox Company, Marsulex Environmental Technologies, Chiyoda Corporation, Lonjing Environment Technology Co. Ltd., Ducon Technologies Inc., Hamon Research-Cottrell, and Hitachi Power System America Ltd. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

Market Segment:

Flue Gas Desulfurization Technology Outlook (Revenue, USD Million, 2012 – 2020)
• Wet Flue Gas Desulfurization System
• Dry Flue Gas Desulfurization System

Flue Gas Desulfurization Application Outlook (Revenue, USD Million, 2012 – 2020)
• New Flue Gas Desulfurization Systems
• Reagents & Replacements

Flue Gas Desulfurization Regional Outlook (Revenue, USD Million, 2012 – 2020)
  • North America
  • Europe
  • Asia Pacific
  • RoW

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Glycerol Market Projected To Reach Attain Height of 3,469.2 kilo tons By 2024

The global Glycerol demand was 2,247.2 kilo tons in 2013 and is expected to reach 3,469.2 kilo tons by 2020, growing at a CAGR of 6.4% from 2014 to 2020

The global Glycerol demand was 2,247.2 kilo tons in 2013 and is expected to reach 3,469.2 kilo tons by 2020, growing at a CAGR of 6.4% from 2014 to 2020.. The increase in production of oleochemicals coupled with growing downstream opportunities is anticipated to propel market demand over the forecast period. Declining usage of synthetic products such as propylene glycol is likely to fuel consumption of glycerol.

Glycerol also is known as glycerin, it’s a core compound of all triglycerides. Glycerol can be sourced either from artificial or natural means depending on a raw material used in its manufacturing. Glycerol finds its applications in preservatives, antifreeze chemicals, explosives, and food sweeteners due to its chemical properties. Growing healthcare technologies are likely to drive the market growth over the forecast period.

Uncertain feedstock supply, fewer profit margins for refinement processes can act as a restraint to the glycerol market. Unstable government legislations and industry subsidies are affecting the profitability of manufacturers which is expected to have a negative impact on glycerol production.

Source Insights

The major sources of glycerol are biodiesel, fatty acids, and fatty alcohols. In recent times, bio-diesel is the largest source for the production of glycerol. The process of using bio-diesel alcohol in glycerol production is known as transesterification process, which is economical over other synthetic processes. Saponification and hydrolysis are the other methods of glycerol production.

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Application Insights

Pharmaceuticals and personal care were the largest application segment of this market. Glycerol finds its application in skin products owing to its healing properties and nutritive value. It is also used in health products due to its sweet tasting features and laxative properties.

The growing demand for coatings and paints industries is expected to have a positive impact on market demand. Glycerol also finds its applications in explosive production, tobacco humectants, perfume production, and food preserving. Glycerol is the precursor to important chemicals such as 1-3 propanediol, Epichlorohydrin, and Propylene Glycol owing to which the downstream applications of this product have attracted a lot of attention.

Regional Insights

Europe is the largest region in the market due to growing demand in food & beverages, pharmaceuticals, and personal care segments. Its growing application in the production of specialty chemicals such as propylene glycol and epichlorohydrin is driving the demand for this product.

China is likely to consume high glycerol owing to rising production of epichlorohydrin in this economy. The presence of a large number of coatings and paints industries in Asia Pacific is expected to drive the market demand. The rising consumption of cosmetic products and pharmaceutical containing glycerol is likely to witness a significant growth over the forecast period.

Competitive Insights

The key players in the market are Vitusa Product (U.S.), Emery Oleochemicals LLC (U.S.), Cremer Gruppe (Germany), Dial Corporation (U.S.), Kashima Chemical Co., Ltd. (Japan), Sumi Asih Oleochemical Industry (China), Twin Rivers Technologies, Inc. (U.S.), Pt Cisadane Raya Chemicals (Indonesia), Kao Corporation (Japan), Sakamoto Yakuhin Kogyo Company Ltd. (Japan), Pt Flora Sawita Chemindo (Indonesia), Pacific Oleochemicals Sdn Bhd (Malaysia), United Coconut Chemicals, Inc. (Philippines), Croda International Plc. (UK), Archer Daniel Midland (U.S.), IOI Oleochemical Industries Berhad (Malaysia), Dow Chemical Company (U.S.), Godrej Industries Ltd. (India), Kuala Lumpur Kepong Berhad (Malaysia), Solvay SA (Belgium), Procter & Gamble Chemicals (U.S.), Wilmar International (Singapore), Sofiprotéol Group (France), and Cognis Corporation (U.S.), etc.

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Market Segment:

Global Glycerol Market Source Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
  • Biodiesel
  • Fatty acids
  • Fatty alcohols
  • Soap industry

Global Glycerol Market Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
  • Personal care & pharmaceuticals
  • Alkyd Resins
  • Foods & beverages
  • Polyether polyols
  • Tobacco humectants
  • Others

Global Glycerol Downstream Opportunities Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
  • Propylene Glycol
  • Epichlorohydrin
  • 1,3 Propanediol
  • Others

Glycerol Market Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 – 2020)
  • North America
  • Europe
  • Asia Pacific
  • RoW

Read more insights on @

https://latestmarkettrends.news.blog

Get in touch

Contact Person:

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com