Penetration Testing Market Technology Advancement and Growth 2018 to 2026

Penetration testing is also known as pen testing. It is a simulated process used to test a computer system, application or a network to check for security weaknesses, which could be easily capitalized on by hacker. They are designed in such way that they will be useful in security assessments and security testing. For penetration testing, a wide variety of security assessment tools are used, which can be hardware-software, websites and (PEA) proprietary enterprise applications. There are various methods under the ambit of penetration testing, which include external testing, internal testing, blind testing, and double blind testing.

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Increasing incidence of cyber-attacks and need to secure vulnerable data are key drivers for penetration testing market growth

Major driving factor for growth of the penetration testing market is the ability of penetration testing to provide security to industries from various cyber-attacks, as increasing incidence of cyber-attacks can increase the vulnerability of critical data stored by organizations and adversely impact the revenue. For instance, according to a report published by Academy and Industry Research Collaboration Center (AIRCC) in 2016, the number of web attacks in the U.S. in 2015, increased by 36% with over 4,500 new attacks each day. Moreover, increasing adoption of advance technologies such as Internet of Things (IoT), cloud computing, Bring Your Own Device (BYOD), and rise in disposable income has contributed to growth of the penetration testing market. Adoption of cloud computing has increased over the last decade as this technology is highly scalable, efficient in operation, and cost effective in comparison to other data storage and transfer technologies but is highly vulnerable and provides easy access to unauthorized users

Lower adoption of penetration testing systems by smaller organizations is hindering market growth

The adoption rate of penetration testing systems is very low in smaller enterprises, as these companies allocate lesser budget on cyber security solutions and penetration testing. Lack of knowledge and awareness regarding the use of security services in various industries coupled with shortage of skilled labor to carry out penetration testing exercises is adversely impacting growth of the penetration testing market.

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Regional analysis of penetration testing market

North America and Europe dominated the market with respect to penetration testing and are expected to maintain their dominance during forecast period, owing to increasing adoption of cloud services and Bring Your Own Device (BYOD) technology. For instance, according to Coherent Market Insights, in 2018, the U.S invested around US$ 95 billion on cloud services, accounting for more than 58% of the amount spent on cloud services worldwide. Furthermore, the UK and Germany collectively spent over US$ 14 billion on cloud services in 2018.  Another factor which is contributing to the growth of the market in the region is presence of many key players (such as IBM Corporation, Synopsys, and WhiteHat Security among others) serving the penetration testing market in the region.

Asia Pacific is expected to register rapid growth during the forecast period in the penetration testing market due to increased adoption of cloud-based services, primarily in India and China. For instance, according to Coherent Market Insights, the digital transformation in Asia Pacific is driving multi-cloud and hybrid environments, which allows enterprises to create a more agile and cost-effective IT frameworks. Heavily regulated industries such as banking and finance are increasingly adopting Software as a Service (SaaS) for non-core functionality, Platform as a service (PaaS) for app development and testing, and Infrastructure as a Service (IaaS) for workload trial runs and testing for their new service offerings. Drivers of IaaS growth in the Asia Pacific include the increasing demand for more rapid processing infrastructure, as well as increasing requirement of better data backup and disaster recovery systems.

Global Penetration Testing Market: Competitive Landscape

The key players operating in penetration sensing market include IBM Corporation, Rapid7, Inc., Microfocus, Qualys, Inc., Synopsys Inc., Core Security SDI Corporation, Whitehat Security, Trustwave Holdings, Inc., LTD, VERACODE, Inc., Secure Works Inc., Acunetix, Contrast Security, and Paladion Network Private Limited.

Electronic Trial Master File (eTMF) Market By 2026: Things To Know About Worldwide Industrial Growth

Electronic trial master file (eTMF) is a formalized method for arranging and storing documents, pictures, and digital content of pharmaceutical clinical investigation that might be required for compliance with government organizations. An eTMF stores documents and contents electronically on a computer server or cloud, eliminating the need for organizational framework for filing paper document. Almost all organizations involved in clinical trial activity interacts or supports compilation of eTMF. The trial master file (TMF) not only contains adequate and accurate data, but also is synchronized for evaluation by inspectors, and it shares data with clinical study team members both internally and externally. The most common features of eTMF software are content integration, control, storage, and elaborating on the data related to clinical trials.

Factors Driving Growth of the Global Electronic Trial Master File (eTMF) Market

One of the major factors driving growth of the electronic trial master file (eTMF) market is various benefits offered by use of this to organizations. Electronic trial master file saves time, saves money, and increases visibility by discovering and repairing incorrect documents quickly and also by allowing content search to be actionable. Electronic trial master file saves time in audit preparation; site activation documentation is distributed within a few keystrokes; and also reduces time to establish a new clinical site.

Life science companies that are engaged in clinical trials are required to document important issues of trials. Clinical trial is primary research where researchers find out if a new treatment, new drug, diet, or medical device is safe and effective to be used by people. The complexities in management of clinical trials due to involvement of stake holders and vendors, handling proper documentation is always a challenge. Electronic trial master file boosts work efficiency and supports sharing of documents, helps in resolving issues, prevents delay, and speeds up work flow process. Electronic trial master file system benefits clinical research team to electronically access, exchange, and manage clinical documents remotely using any electronic device. Electronic trial master file system is economical as it saves overnight courier cost, document storage costs, and staff document handling and managing cost.

Factors Restraining Growth of the Global Electronic Trial Master File (eTMF) Market

Lack of skilled professionals is a major factor hampering growth of the global electronic trial master file (eTMF) market. This is owing to eTMF system being content management system for the pharmaceutical industry it requires skilled professionals for handling. If unskilled professionals handle the eTMF system documents may get misplaced or replace, and due to this organizations may suffer high maintenance cost.

Regional Analysis of Electronic Trial Master File (eTMF) Market

On the basis of region, the global market for electronic trial master file (eTMF) is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

North America is expected to exhibit high growth on the electronic trial master file (eTMF) market during the forecast period (2018-2026), due to increasing adoption of cloud-based technology for application in various sectors such as healthcare. This is owing low cost associated with the use of cloud platform and ease of use. According to Cisco, in 2016, North America generated the most cloud traffic (1,891 Exabyte (EB) annually), followed by Asia Pacific (908 EB manually) and Western Europe (718 EB manually). By 2021, North America will generate the most cloud traffic (3.6 Zettabyte (ZB) manually), closely followed by Asia Pacific (2.3 ZB manually) and Western Europe (1.5 ZB manually).

Asia Pacific is expected to exhibit significant growth owing increasing adoption of eTMF in the pharmaceutical industry. Furthermore, emerging economies in the region such as China and India are major growth engines. For instance, India is a manufacturing hub and offers high quality, low priced medicines, and this has led to high growth of the pharmaceutical industry. According to India Brand Equity Foundation (IBEF), the pharmaceutical sector was valued at US$ 33 billion in 2017. The country’s pharmaceutical industry is expected to expand at a CAGR of 22.4% over 2015-2020 to reach US$ 55 billion in India.

Key players in Global Electronic Trial Master File (eTMF) Market

Some of the key players involved in electronic trial master file (eTMF) market are, Paragon Solutions, Phlexglobal Ltd, SAFE-BioPharma Association, SterlingBio, SureClinical, Montrium Inc., and Arivis AG. Sure Clinical, Inc., OASIS, Transperfect, Veeva Systems, Vertmarkets, Inc., Mastercontrol, Inc., Advanstar Communications, Inc.

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Mobile Phone Accessories Industry Analysis, Growth and Forecast, 2018-2026 – Coherent Market Insights

Mobile phone accessories are collection of hardware that help in enhancing the functionality of mobile devices. Mobile phone accessories help consumers to protect their phone from being snatched or breakage and enable listening to music through headsets. Mobile phone accessories include, Bluetooth, portable speaker, power bank, headphones, and others. Mobile phone accessories help to keep the mobile phones safe from damage and also make smartphones look trendy.

Market Dynamics

Key players such as Apple, Inc., Samsung, Panasonic Corporation, and others are focused on investments and R&D to increase the functionality and features of smartphones. This in turn is expected to help companies to differentiate their products from competitors and maintain strong presence in the market. For instance, according to the Coherent Market Insights’ analysis, Samsung Electronics Co invested US$ 12.6 billion on mobile research and development (R&D) activities in 2015 for developing new technology and products, which further increases the demand for mobile phone accessories during the forecasted period.(2018-2026).

Market Driver:

The increasing adoption of smartphones worldwide is one of the key factors driving growth of the market. For instance, according to the Coherent Market Insights analysis, the sale of smartphone in 2014 was 367,334.7(thousand units) and reached to 403,109.4 (thousand units) in 2015 worldwide.

Mobile phone protective case accounted for the largest market share in 2017

On the basis, of product type the protective case accounted the largest market share in 2017 and expected to remain largest during the forecast period (2018-2026), owing to increasing demand of wireless accessories. The factor attributed to growth of the market is technological advancements in various audio devices that have transformed the fashion of listening music. This factor is expected to increase demand for wireless audio devices such as portable Bluetooth speakers. Moreover, Bluetooth speakers provide hassle free maintenance, increased durability, and good functionalities that attract consumer towards the adoption of Bluetooth for their devices. Such high adoption of wireless devices is expected to fuel growth of the market during the forecast period (2018-2026).

Key companies

Major players operating in the global mobile accessories market include, Samsung Electronics Co., Ltd., Sony Corporation, Panasonic Corporation, Apple, Inc., JVC Kenwood Corporation, Plantronics, Inc., Bose Corporation, Griffin Technology, Otter Products, LLC, Sennheiser Electronics GmbH & Co. KG and others.

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Smart Elevators Market Sales And Product Demand Analysis 2026

Smart elevators are designed to travel between floors. They are faster, easier, and more energy efficient as compared to conventional elevators. It uses destination dispatch technology wherein passengers enter their destination floor via a touch screen panel and are assigned to a lettered elevator along with other people going to the same floor. This offers minimum number of stops between intermediate floors by skipping stops at lower levels and hence, elevator travels quickly to the desired floor. It is a fast way of travelling between the floors and is preferred to be used in tall buildings or commercial complexes. Increasing government investment for development of smart city is one of the major driving factors leading to demand for smart elevators. For instance, according to the Indian government Union Budget 2018-19, the government has selected 99 cities under the smart city mission and will provide a fund of US$ 3.1 billion for the development of these cities. Moreover, the high initial investment for installation of smart elevator become one of the major challenging factors, which hinders the market growth.

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Increasing urbanization is a major factor driving growth of the smart elevators market

Smart elevator is suitable for applications in infrastructure in the urban areas (such as New York City, Chicago, and San Francisco) where high multi-storey buildings and mall construction is gaining significant traction. Therefore, development in infrastructure is expected to propel demand for smart elevators. Increasing urbanization activities worldwide is further fuelling market growth. For instance, according to the World’s Cities by the United Nations report, in 2016, an estimated 54.5% of the world’s population lives in urban areas and is expected to grow to a 60% by 2030. Increasing sift of population towards urban regions is compelling engineers to develop better infrastructures (e.g. tall buildings) with a perspective to accommodate the growing urban population. Moreover, increasing investment in infrastructure sector worldwide is driving the market growth. For instance, according to Coherent Market Insights, worldwide infrastructure spending is expected to be over US$ 9 Trillion per year by 2025, up from US$ 4 Trillion per year in 2012. Overall, close to US$ 78 trillion is expected to be spent worldwide between 2014 and 2025. Therefore, increasing urbanization is propelling demand for construction of urban infrastructure, which in turn is driving growth of the smart elevators market.

Smart Elevators Market: Regional Insight

On the basis of region, the smart elevators market is segmented in to North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

North America held the dominant position in smart elevators market in 2017, owing to increasing expenditure on infrastructure. The region of North America comprises some prominent and developed economies such as the U.S. and Canada. The rate of urbanization in these economies is considerably high. For instance, according to the United Nations report, in 2016, over half of the North American population resided in the urban regions and one in every five people lived in a city of 5 Million habitants or more. Increasing urbanisation in these regions is propelling demand for construction of tall buildings for residential and commercial purposes, which in turn is fuelling growth of the smart elevators market.

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Furthermore, Asia Pacific is the fastest growing region in the global market. The region has high percentage of urban population. For instance, according to a March 2017 report by United Nation’s Economic and Social Council, Asia Pacific was home to 60% of world’s urban population in 2017. Furthermore, according to World Population data sheet by Population Reference Bureau, in 2017, the total population of Asia Pacific region was around 4,494 Million out of which 49% accounted for urban population. Also, funding for development of urban infrastructure sector has increased in Asia Pacific. For instance, according to September 2017, report by India Brand Equity Foundation (IBEF), in India, Foreign Direct Investment inflows for construction development sector and infrastructure activities sector accounted for US$ 24.54 billion and US$ 9.82 billion, respectively from April 2000 to June 2017. Smart elevators offers several advantages in urban infrastructures, growth of urbanization and infrastructure development in this region are expected to increase demand for smart elevators throughout the forecast period.

Smart Elevators Market: Competitive Landscape

Key players operating in the smart elevators market include Hitachi, KONE CORPORATION, Mitsubishi Electric, Otis Elevator Company (UNITED TECHNOLOGIES), Schindler, Thyssenkrupp, Hyundai Elevator Company Ltd., Toshiba Elevators and Building Systems Corporation, Fujitec Co. Ltd., and Motion Control Engineering, Inc.

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Continuous Testing Report Market to Register Unwavering Growth During in Global by 2026

Continuous testing is a method of implementing automated tests as a measure of software delivery pipeline with the purpose of obtaining feedback for each stage of the delivery pipeline, and provides instant insights on threats associated with business. Continuous testing is seamlessly incorporated with software delivery pipeline and DevOps tool chain.

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Market Driver:

High demand for continuous and instant content delivery is major factor driving market growth, owing to increasing inclination of consumers towards interacting with peers through real-time communication and rising use of social media. According to Coherent Marker Insights’ analysis, as of July 2016, over 1.7 billion people were using Facebook monthly, which is about 38% of the U.S. population. Furthermore, increasing adoption of smart devices, increased utilization of broadband connectivity, and development of IT infrastructure that is compatible with 4G LTE and 5G connectivity, are expected to propel growth of the global continuous testing market.

For instance, according to Coherent Market Insights’ analysis, as of 2016, over 68% of global population is already using mobile phones. In addition to that, according to Internet World Stats, as of December 31, 2017, total Internet users count was totaled at 4.2 billion among global population of 7.6 billion, which was around 54.4% of global population.

Therefore, these factors are expected to boost demand for global continuous delivery, which consequently will accelerate demand for continuous testing, in order to continuously review and optimize the test suite to eliminate redundancy and maximize business risk coverage.

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On-premises segment accounted for largest share in the global continuous testing market in 2017

On-premises deployment segment is estimated to hold the larger market share in 2018, owing to better confidential information control and security from external attacks as systems are held internally in an organization. Owing to this reason, on-premises software can be used to resolve business problems, which in turn will help in improvement of overall business performance. The on-premises segment was valued around US$ 1,869.3 million by 2026.

The cloud deployment segment is expected to exhibit the highest CAGR with 16% over the forecast period from 2018 to 2026. This is due to its applications being cost-efficient and can be deployed even in a basic IT infrastructure.

North America Continuous Testing market accounted for largest share in 2017

The market for North America is expected to show significant growth rate over the forecast period (2018 -2026). The market for North America is expected to be valued at around US$ 1,339.0 million by 2026, witnessing a CAGR of 12.6% throughout the forecast period (2018 – 2026).

The growth of continuous testing market in this region is attributed to advancement in internet infrastructure, high use of mobile and web applications, and rising number of social media users. For instance, according to Coherent Market Insights’ analysis, Facebook has the most active users of about 1.860 billion per month. That is around 22% of the world’s population. In 2016, total smartphone users in North America increased to about 78% from about 60% in 2015.

Hence, increase in smartphone utilization will proportionally increase demand for internet connectivity. North America is the leading market for 5G network infrastructure technology. This is due to presence of key market player such as T-Mobile, which is planning to establish 5G network infrastructure in the U.S. Additionally, AT&T and Verizon Communication have already successfully completed 5G trial and are expected to deploy it by 2023. These factors are leading to increasing demand for continuous testing in this region.

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Key companies

Major players operating in the global continuous testing market include EPAM Systems, Mindtree, HCL Technologies, ATOS, Tech Mahindra, Hexaware, Tricentis, Cigniti, Larsen & Toubro Infotech, and NIIT Technologies.

Transformer Breathers Market Share and Forecasts, 2018-2026 – Coherent Market Insights

Transformer breathers are used to maintain the level of humidity in air space in the top section of the conservator tank. It is very important to maintain the water level of water vapour in order to avoid failure or malfunction of transformers. Transformer breathers offer efficient and economical solution to control the level of moisture entering the conservator tank during change in volume of cooling medium by temperature gradients.

Growing power generation sector across the globe is the major factor fuelling the growth of transformer breathers market

Breathers are majorly used in transformer to maintain the humidity in conservator tank. Electricity and its applications have become ubiquitous in human lives thus propelling demand for uninterrupted power supply. Even a small duration of power interruption may cost a major loss of productivity, especially in industrial sector. Increasing number of energy generation methods to meet high demand for power is fuelling growth of the market. For instance, according to Enerdata’s Global Energy report, global electricity production reached to 24,659 T Wh in 2016, up from 24,107 TWh in 2015. More Power Generation will require expansion of Transformation and Distribution (T&D) Network, which in turn is expected to increase installation of transformers. Breathers are an integral part of power transformers and distribution transformers. The transformer breather is a cylindrical vessel connected at one end of the bend pipe extending from the conservator of an oil immersed transformers. Breathers allow the air to flow outwards via breathers during over loading and outside air to comes in during lite load. But moisture present in the outside air deteriorates the oil contained in the transformers. This is where Breathers play an important role.

Transformer Breathers Market: Competitive Landscape

Some of the key players operating in the transformer breathers market include ABB, Brownell, Drytech, Eaton, Hawke International, AGM Container Controls, Air Sentry, Ashish Engineering, Comem, Drytech, Energy Tech Enterprises, H2O Control Products, HAMP, K.P.S & Co., Maha Trading, Martec Asset Solutions, Maschinefabrik Reinhausen, SMS Omni-feed, Stream Peak International, Trade-link, and Zenith Group USA.

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Connected Logistic Market boosting the growth: Market dynamics and trends, efficiencies Forecast 2026

Connected logistics system is a support service that provides material handling and transport for the superior, more significant, and value creating manufacturing process using advanced technologies. Connected logistic provides various benefits to logistic businesses by providing improved operational efficiency, real-time access, and improved productivity through integration of multiple connected platforms such as IoT, cloud computing, and smart devices. There are various communication technologies that are used to improve logistical support systems such as Bluetooth and Wi-Fi. Connected logistics is acceptable and an important business strategy, as it is more sophisticated, more automatic, more adaptive, and an intelligent system.

Factors Driving Growth of the Global Connected Logistics Market

Major factors driving growth of the global connected logistics market include increasing adoption of IoT across various industries, decreasing cost of communication devices, and increasing demand for logistic operational efficiency. For instance, according to a report by Pew Research Centre, 49% of the world’s population is connected online and an estimated 8.4 billion IoT are in use worldwide as of 2018. Increasing adoption of smart devices globally,

Regional Analysis of Connected Logistic Market

On the basis of geography, the global dehumidifier market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to hold the largest market share owing to high investments in the research and development of connected Logistic in the region. Countries in North America such as U.S., Canada, and Mexico shows significant growth opportunities, due to their strong financial position. Europe is expected to be the second-largest contributor in the connected logistics market, as the healthcare sector in Europe is extensively adopting connected logistics. Asia Pacific is expected to show maximum growth in the connected logistic market during the forecast period, owing to increasing consumer awareness regarding advanced technology and their benefits.

Key players in the Global Connected Logistic Market

Some key users in the connected logistics market are communication equipment providers, government agencies & authorities, IoT and general telecommunications companies, and privacy and security companies. Major players operating in the global connected logistics market include AT&T Inc., IBM Corporation, Intel Corporation, SAP SE, Infosys Limited, Cisco Systems Inc., HCL Technologies Limited, Eurotech S.P.A., Microsoft, oracle, Cloud Logistics, Zebra technologies, ORBCOMM, and GT Nexus.

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Crowdsourced Smart Parking Market Size Will Escalate Rapidly in the Near Future

Crowdsourced smart parking is a system that helps drivers to identify parking spots via smartphones or electronic street panels. This system provides data regarding unoccupied parking spaces available for parking, which is helpful for avoiding congestion on-street as well as off-street. This system can be installed in public places such as shopping malls, airports, hospitals, office buildings, and residential communities among others. The goal of the system is to automate and decrease time spent on manually searching for a parking spot.

Growing concern for parking along with increasing adoption of vehicles are factors driving growth of the market

Major factors driving growth of the crowdsourced smart parking market include increasing demand for vehicles, globally. For instance, according to International Organization of Motor Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016 was 94 million units, which increased to 96 million units in 2017, globally. Rising adoption of vehicles is resulting in high traffic congestion, which in turn, is increasing the demand for crowdsourced smart parking to ease traffic congestion, which further helps save the time, cost, and fuel. The adoption of crowdsourced smart parking systems helps users in determining the available parking spaces and reserving the spot in advance, reducing the time required to avail parking and reduces human error in parking.

Moreover, increasing number of smart city projects is further increasing the demand for crowdsourced smart parking market over the following few years. For instance, according to the Coherent Market Insights’ analysis, in 2016, the number of smart city projects in Europe accounted for 86, followed by Asia Pacific with 79, and North America with 49. This in turn, is expected to propel growth of the crowdsourced smear parking market during the forecasted period.

However, the major restraint for the market growth is the slow growth of infrastructure, especially in emerging economies such as India and China, among others, owing to high cost of installation.

Global Crowd sourced Smart Parking Market: Segment Trends

On the basis of applications, the commercial use segment accounted for the largest market share of the global crowdsourced smart parking market in 2017. This growth is attributed to the rising number of shopping malls, large commercial hubs, and sports entertainment hubs being constructed in the region. For instance, according to Coherent Market Insights’ analysis, in 2016, the number of shopping malls in Germany was 474, which increased to 482 in 2017. Public place require appropriate parking of a large number of vehicles to avoid congestion. In such situations, crowdsourced smart parking solutions provide directions and accuracy to the drivers for parking vehicles. This in turn, is expected to propel growth of the commercial use segment.

Global Crowdsourced Smart Parking Market: Regional Insights

The market for crowdsourced smart parking in North America accounted for largest share in the global market in 2017. The U.S. and Canada are the major growth engine in the market in North America, owing to the increasing sales of vehicles in these countries. For instance, according to the OICA (International Organization of Motor Vehicle Manufacturers), the total vehicle sales of passenger cars in the U.S. was 7.5 million in 2013, which increased to 7.6 million in 2014. Similarly, in Canada, the total sales of passenger cars was 755 thousand units in 2013, which increased to 760 thousand units in 2014. The increasing adoption of vehicles in turn, is expected to increase the demand for high-end automation solutions and software for managing parking payments and guidance.

Moreover, increasing government initiative towards solving problems related to traffic congestion is further expected to boost the implementation of crowdsourced smart parking system across streets. For instance, the America’s Surface Transportation Act or “FAST Act” was implemented in 2015 to solve road traffic congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions. This in turn, is expected to fuel growth of the crowdsourced smart parking market in North America.

Asia Pacific market is expected to exhibit highest CAGR over the forecast period due to increasing deployment of smart city and smart infrastructure projects in this region. China, Japan, India, and South Korea are the major growth engines in the region. For instance, in 2015, the Government of India announced plans to develop 100 smart cities by using smart technology to improve the efficiency of services and meet the needs pf citizens. This in turn, is expected to boost growth of the market in this region.

Global Crowdsourced Smart Parking Market: Competitive Landscape

Major players operating in the global crowdsourced smart parking market include 3M, Amano Corporation, Cubic Corporation, Thales Group, Kapsch TrafficCom AG, Nortech Control Systems Limited, Siemens Swarco AG, Fujica, Imtech, and Xerox Corporation.

Key players in this market are adopting inorganic strategies such as mergers and acquisitions to strengthen their foothold in the global market. For instance, in December 2016, Kapsch TrafficCom AG acquired Schneider Electric transportation business to help Kapsch TrafficCom AG expand its portfolio of intelligent transportation management solutions, which in turn helps the company gain a competitive edge in the global market.

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Sports Utility Vehicle (SUVs) Market to Reflect a Holistic Expansion During 2018-2026

Sports Utility Vehicles (SUV) is a type of off-road vehicle, which includes features such as ground clearance, ruggedness, and four-wheel drive that helps the vehicles to withstand in rough environment. The SUVs offer a broad range of advantages such as power, performance, cargo room, better sightlines, functionality, luxury, and safety, which in turn is driving growth of the SUV market

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Increasing concerns regarding safety is the major factor driving growth of the global SUV market

Increasing concern regarding safety is one of the major driving factors for growth of the market. SUV vehicles are equipped with active safety features such as ADAS (Advanced driver-assistance systems), Anti-Lock Brake System (ABS), traction control (ASR), torque vectoring, and Tire-Pressure Monitoring System (TPMS), which has primary function of not to getting into accidents by providing maximum safety to the driver. For instance, in 2017, Audi launched the AudiQ3 SUV vehicles, which was incorporated with advanced technologies such as Electromechanical Parking Brake, Tire-pressure Monitoring System (TPMS), and Anti-lock Brake System (ABS). Increasing inclination of consumers towards adoption of automobiles with safety features, owing to increasing number of road accidents is expected to boost growth of the SUVs market worldwide. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents were reported worldwide in 2013, out of which around 93% road traffic death were reported in low and middle income economies and over 50 million people were injured by road accidents.

Furthermore, stringent legislation and policy framework by government, mandating the installation of safety equipment in automobiles coupled with consumers’ preference for better safety measures is propelling growth of the SUV market. For instance, according to the Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act, in November 2012, the European Union mandated Tire Pressure Monitoring System (TPMS) in every passenger car models. The U.S. Highway Safety Act of 1991 made airbags and Anti-Lock Braking System (ABS) mandatory in all passenger cars. These technologies offer efficient operation and improved safety, which is expected to drive growth of the SUVs market.

Increasing cost of fuel is one of the major restraining factors for growth of the market

The major factor restraining growth of the market is rising fuel price. Increasing adoption of SUV vehicles is in turn propelling demand for crude oil. This is owing to the fact that SUVs are utility vehicles and consume more fuel. According to Energy Information Administration (EIA), crude oil price increased to US$ 60 per barrel at the end of 2017 from US$ 50 per barrel in 2016. Moreover, according to Coherent Market Insights’ analysis, in India total sales of SUVs were 62,170 units in the month of April 2016, which is decreased to 55,825 units in June 2016. Therefore, increasing price of crude oil is expected to negatively impact growth of the SUV market especially in emerging economies such as India and China.

Global SUV Market: Regional Insights

The SUV market in North America accounted for largest share in global market and is expected to maintain its dominance over the forecast period (2018 – 2026). The growth in this region is attributed to stringent government regulations to prevent road accidents. For instance, in 2008, the U.S. Congress TREAD Act, mandated the deployment of appropriate Tire Pressure Monitoring System (TPMS) technology in all passenger vehicles to improve the driver and passenger safety by means of dashboard warning system. Moreover, in 2016, the U.S. Department of Transportation’s National Highway Traffic Safety Administration officially announced that automakers in the U.S. have to make the autonomous emergency braking system a standard feature for all cars and trucks by 2022. This in turn creates a highly conducive environment for growth of the regional SUV market.

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Global SUV Market: Competitive Landscape

Key players operating in the SUVs market include AUDI AG Corporation, Toyota Motor Corporation, Volkswagen AG, Rolls-Royce Motor Cars Limited, General Motors LLC, Jaguar Land Rover Automotive PLC, and Acura. Major players such as AUDI AG, Volkswagen AG, and Rolls-Royce Motors Cars Ltd. are focusing on launching products equipped with advanced features, in order to maintain a competitive edge in the market. For instance, in 2016, Volkswagen launched Tiguan SUV, in India. The salient features added in Tiguan SUV are panoramic sunroof, 4 Motion All-Wheel-Drive System, keyless entry and reverse parking camera, infotainment system and others.

Dehumidifier Market Expoler Future Growth With Top Key Players

Dehumidification is a psychometric process that removes vapor or humidity from the air. Dehumidification process along with heating and cooling is increasingly used in air conditioning applications. A dehumidifier is an electrical device, which is used to minimize and maintain the level of moisture in the air. It is mostly used for health or comfort reasons. A dehumidifier works similar to a vacuum cleaner where it absorbs the air from room at one end takes the moisture out of it and then blows it back out into the room. Dehumidifier works by using refrigeration process or by absorption process. In refrigeration process, it cools the air by absorbing humidity, which is present in air whereas in absorption or adsorption process air is soaked into drying material and then removed back to system.

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Dehumidifier aids in preventing growth of mold, fungus on cupboards, doors, drawers, and clothes. It is used to remove dampness from bookshelves and closets. Dehumidifier protects the moisture sensitive items such as musical instruments, cameras, and computers.

Driving factors for growth of the dehumidifier market

In the U.S., about half of the population was found to be living in the areas with severely high degree of polluted air. The share of such population was found to be as high as 47% of the total population as stated by American Lung Association, in 2015. Increasing level of pollution have propelled need for clean and pure air. Owing to such health concerns among individuals, and rise in disposable income is expected to aid in growth of the market. According to the report by Bureau of Economic Analysis (BEA), Disposable Personal Income (DPI) in the U.S. increased by US$ 39.8 billion (0.3 %) in April 2018 as compared to 2017. Moreover, number of people suffering from air borne diseases such as asthma is also rising, which is another factor for growth of the market.

According to a report by Energy Efficiency, around 40% of people were diagnosed with asthma in year 2016. These humidifiers aid in controlling respiratory system diseases, allergies or skin related problems. Dehumidifier have anti- bacterial filter and ionizer where anti-bacteria filter kills bacteria and ioniser absorbs dirt, dust, and viruses out of the air, which helps to clean the air and makes breathing easy. This is expected to increase sales of dehumidifiers, in turn aiding in growth of the market.

Dehumidifier is also used in storage of valuable artifacts, documents, and work of art in museums, libraries, and archives where it maintains humidity levels of 40 – 45% RH. Artifacts can be paper based (i.e. books), canvased based (i.e. painting) and leather based (i.e. clothing). Appropriate level of humidity prevents drying of the materials while at the same time prevents the formation of mildew. Dehumidifier is also used in swimming pools and spa rooms to avoid contamination of humid aid with chlorine or bromine, which could cause harmful effects to humans. In the food industry, it is particularly used in storage of candies, as candies are highly hygroscopic when humidity is high. Sugar induced products absorbs the moisture and becomes sticky because of which it can stick to wrapping paper or machinery. Major companies are focused on offering dehumidifiers for such applications.

For instance, Bry-Air is the manufacturer of Desiccant dehumidifier, which are dehumidifiers largely used by candy manufacturers such as Nestle, Leaf candies, etc.

However, dehumidifier requires high maintenance and consumes high electricity, which could affect the adoption rate. These additional costs could negatively affect growth of the market. Overheating of dehumidifier is also main drawback of dehumidifiers as it could cause smoke or fire. Overheating causes because of improper use, poor maintenance or restricted airflow in compressor and fan, which results in overheating of compressor.

Regional analysis of dehumidifier market

On the basis of geography, the global dehumidifier market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to be the dominant region in the global market over the forecast period. This is owing to high growth in the food & beverages industry. For instance, according to a report by The Committee for Economic Development (CED), the food sector of the U.S. witnessed total sales of US$ 1.4 trillion in 2015, which includes overall food consumed at home and away from home. Moreover, governments are focusing on stringent regulations to keep temperature balance of the food, in order to avoid spoilage and maintain food safety. As per the report of Food and Drug Administration, temperature control for safety food shall be at a temperature of 5°C (41°F) or below when received.

Asia Pacific is expected to be the fastest growing region in the global dehumidifier market over the forecast period. The use of dehumidifiers has increased in the construction industry in Asia Pacific region, to avoid growth of molds on slabs and walls. In addition to this, it is used to avoid rusting of iron bars and rods

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Key Players in dehumidifier market

Major players operating in the dehumidifier market include Frigidaire, Haier, Honeywell, LG Electronics, Whirlpool Corporation, Therma-Stor LLC, De’Longhi Appliances, Mitsubishi Electric, STULZ Air Technology Systems, Munters, and Bry-Air, and Sunpentown International Inc.