Energy Harvesting System Market to Witness a CAGR of 11.0% in Coming Future

Annually, 35,000–45,000 pounds of CO₂ emissions are attributed to an average person. The increasing global carbon footprint and rising amount of greenhouse gas emissions are leading to climate change. The changing climate, shifting rainfall patterns, and rising temperature are further resulting in the depletion of natural resources, upon which numerous economies are dependent.

The governments across the globe, in order to remedy this situation, are focusing on ways to reduce the carbon footprint. Minimizing the wastage of energy and harvesting it instead is one of the ways to accomplish this. The process of energy harvesting converts wasted energy, which is accumulated, into currents and electrical voltages. 

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The systems used for the purpose of harvesting energy also make sure that the electricity bill doesn’t burn a hole in individuals’ pockets. These factors are leading to an increasing demand for energy harvesting systems and devices.

The natural resources generally used for the generation of energy, for example fossil fuels, are finite and take a heavy toll on the environment. As per the BP Statistical Review of World Energy, in 2010, the world was left with only 188.8 million tons of oil in the reserves that are known to humans, which is only enough to meet the world’s demands for the coming 46.2 years. 

Thus, it has become vital to look for new ways that could help generate energy and reduce environmental degradation, and energy harvesting could be the way to achieve this. The global energy harvesting system market attained a value of $358.5 million in 2017, and it is further predicted to grow at a CAGR of 11.0% in the coming years. 

The growth of the market is because of the rising adoption of internet of things (IoT) and increasing demand for power-efficient systems for building automation.

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Geospatial Imagery Analytics Market Predicted to Grow at a CAGR of 28.7% in Coming Years

The global geospatial imagery analytics market is expected to reach $14,687.9 million by 2023, registering a CAGR of 28.7% during the forecast period. The rising demand for such solutions from enterprises due to the strong competition and advancements in the geospatial imagery analytics technology is the major factors driving the growth of the market. Indian Space Research Organisation (ISRO) launched 104 satellites in February 2017, out of which 88 were small satellites. Since nano and small satellites are of low mass and size, usually under 500 kg, they are easier to launch. This means that the number of satellites around the earth will be increased, leading to high-revisit rates and greater data frequency. Due to these advances in satellite manufacturing (ranging from creating unique designs to mass assembly of standard products), the adoption of space-based sensing with continual improvements in image resolution at a lower cost is expected to increase. This is further predicted to drive the adoption of geospatial imagery analytical methods.

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Geospatial imagery analytics is used to leverage and recognize the unique characteristics of unstructured geospatial data (geospatial images and videos). The method helps understand the specifications and intricacies of an area by identifying the patterns and relations in a geographic space and the changes they experience over time. The global geospatial imagery analytics market was expected to reach $3,196.2 million in 2017, and it is further projected to grow at a CAGR of 28.7% in the near future. Apart from satellites, geospatial imagery is collected through geographic information system (GIS) and unmanned aerial vehicles (UAVs). 

Technological advancements are driving the adoption of geospatial imagery analytics. The manual processing done for analyzing any pattern or demographic change in large datasets, after the images have been captured by collection mediums, make the whole process slow, complex, and monotonous. In order to deal with this, service providers are focusing on integrating the deep learning, artificial intelligence (AI), and big data technologies in geospatial imagery analytics and are integrating these in their services rapidly. Various industries, such as banking, financial services & insurance (BFSI), disaster management, retail & e-commerce, and military, are getting beneficial results from these technological advancements. The demand for these services has risen considerably in the recent past as these technological advancements enable end-users with a faster and more-efficient analysis of data.

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A great opportunity for geospatial imagery analytics market players has arisen due to the increasing use of location-based services (LBS), which make use of such technology. According to a study, the number of users utilizing LBS in the U.S. alone grew from around 196 million to nearly 219 million during 2016–2017. This rise in the use of these services is due to the increasing number of internet-enabled devices around the world.

Location-based features are generally integrated in internet-connected devices to help consumers in the interpretation of real-time maps for useful insights. At the core of LBS are geospatial data analytics services. Hence, the growing adoption of smartphones and the quick sharing capability of hyper-local information is leading to the rising adoption of LBS, thereby further creating growth opportunities for the vendors providing these services.

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Increasing Geriatric Population Driving Population Health Management Market

The growing geriatric population, prevalence of chronic diseases, investments, and healthcare expenditure are the key drivers for the population health management market. Advancing at a 23.3% CAGR during the forecast period (2016–2022), the market is projected to garner more than $48.1 billion in 2022, compared to $13.6 billion in 2016. The collection of patient data via multiple health information technology resources to be compiled into one single record is termed as population health management (PHM). It is used to identify the diseased population, care gaps, and risks, as well as engage patients, devise treatment methodology, and measure clinical outcomes.

The population health management market is being driven by the rising geriatric population across the world. The United Nations Department of Economic and Social Affairs mentioned that by 2050, the percentage of people over the age of 60 would grow to 21.1% from 11.7% in 2013. With age, the body’s ability to heal wounds, circulate blood, and fight infections diminishes, which makes the elderly more susceptible to many diseases, such as cardiovascular and neurological diseases. Further, many older people sometimes require personalized treatment, in which PHM can be extremely helpful.

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Another factor driving the growth of the population health management market is the increasing chronic disease prevalence. Lifestyle changes, unhealthy diet, and lack of awareness about many medical conditions and preventive health checkups contribute to the rising incidence of chronic diseases. The Centers for Disease Control and Prevention estimated that in 2012, nearly 117 million people lived with one or more chronic conditions in the U.S. Patients suffering from such diseases require long-term treatment and care and may even suffer from secondary ailments. PHM helps in the easy management of diseases in a cost-effective way over extended periods of time.

The segmentation of the population health management market is also done based on component. The bifurcations of this segment are service and software; in the historical period, software was the larger of the two in terms of the revenue generated in the market. As the market for PHM is still in the developing phase, different end-users are predicted to invest in new software installations, which would further contribute to their high demand, thereby resulting in their growth during the forecast period.

Therefore, the market for population health management is projected to witness remarkable growth in the forecast period owing to the increasing menace of chronic diseases, especially among the elderly.

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What is the Sales, Revenue, and Price Analysis by Regions of Biosimilars Market?

The market is driven by the rising prevalence of chronic disease, growing investment in research and development by biopharmaceutical organizations, vast pipeline of biosimilars, surging geriatric population, and the cost-efficient nature of biosimilars as compared to approved drugs.

Based on technology, the biosimilars market is classified into monoclonal antibody (mAb), bioassays, nuclear magnetic resonance (NMR), recombinant deoxyribonucleic acid (rDNA), and electrophoresis. Biosimilars manufactured using the mAb technology held 56.0% share in the market in 2018. This technology is further anticipated to be the fastest growing due to its large-scale deployment in the development of therapeutics to treat various diseases, such as immunological, cancer, and infections.

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The biosimilars market is expected to observe the fastest growth in North America, progressing at CAGR of 32.7% during the 2019–2024 period. This can be mainly attributed to the surging geriatric population, increasing prevalence of chronic diseases, and growth in R&D investments.

Companies in North America have more freedom to price their products as they want compared to other regions, and advanced technologies and trained scientific personnel are readily available in here, which make it ideal for pharmaceutical companies.

Furthermore, in January 2019, Samsung Bioepis Co. Ltd. partnered with 3SBio Group to expand the business of biosimilars in China. With the collaboration, Samsung Bioepis Co. Ltd. will seek to enlarge its biosimilars portfolio, while 3SBio Group will be supported by the sales of Avastin.

Some of the key players operating in the market, globally, are Samsung Bioepis Co. Ltd., AMEGA Biotech, Synthon Holding B.V., Coherus BioSciences Inc., Celltrion Inc., BIOCAD, Zydus Cadila, Teva Pharmaceutical Industries Limited, Pfizer Inc., Novartis AG, Dr. Reddy’s Laboratories Ltd., and Mylan N.V.

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Geotechnical Instrumentation and Monitoring Market Insights, Share, Development and Forecast by 2024

Witnessing a CAGR of 11.8% during the forecast period (2019–2024), the global geotechnical instrumentation and monitoring market is predicted to generate a revenue of $6.1 billion by 2024.

The major contributors of the market growth are the consistent growth in the construction sector and the rising number of government regulations for infrastructural development. Another factor supporting the market growth is the rising demand for geotechnical instrumentation in the oil & gas sector.

Taking geography into consideration, the geotechnical instrumentation and monitoring market is expected to exhibit the fastest growth in the Asia-Pacific (APAC) region during the forecast period. This can be attributed to the rising number of infrastructure projects in emerging economies, especially India and China.

To counter the effects of economic slowdown, China is investing heavily in its infrastructure sector. With a total of $219.4 billion, the Chinese government has approved 27 projects since 2018. Therefore, the huge inflow of investments is indicative of the rising demand for geotechnical and monitoring services in the foreseeable future.

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In the APAC region, the highest demand for these instruments and services is being generated from South Asia due to rapid industrialization. The major factors behind this are the presence of upskilled workforce and the availability of cheap labor in the region.

Geotechnical Instrumentation and Monitoring Market Segmentation

Market Segmentation by Component

• Hardware
  • Wired
  • Wireless
• Software
• Services

Market Segmentation by End User

• Energy & Power
• Building & Infrastructure
• Oil & Gas
• Mining
• Others (Landfills and Disaster Response)

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Global Smart Parking Systems Market Finally Showing Potential to Scale

Market Overview

Smart parking systems help the vehicle user to find the nearest parking space and provides information on the availability of parking slots in the parking area. The smart parking systems market includes sensors, real-time data and smart-phone-enabled automated payment systems that allow the users to reserve parking slot in advance. The systems identify the exact state of a parking space, if vacant or occupied, and examines and transmits information to various sources, which include mobile applications, signage and web-based applications.

The parking systems involve a wide range of technologies and equipment that suits to various parking lots. The parking technologies can be designed and modified as per the requirements of various parking spaces available. Residential buildings and complexes have limited flow of passenger cars and SUVs although places like hospitals, shopping malls and corporate hubs have a large number of vehicles coming and exiting from the parking areas on a regular basis. Therefore, the demand for smart parking systems is increasing significantly. The smart parking systems uses well-improvised technologies and equipment for consistent operation during the forecast period (2017-2023). The systems are expected to expand its reach from parking at shopping malls and company parking to various multiple platforms, including public parking by giving parking information, based on cost in real time. Additionally, smart parking systems play a major role in reducing the CO2 emission and help traffic movement in the city more efficiently.

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Industry Dynamics

The global smart parking systems market is expected to witness a CAGR of 15.8% during the forecast period, to reach $4,800 million by 2023. The parking sensors have emerged as the largest segment in the global smart parking systems market. In 2016, Asia-Pacific was among the fastest growing markets, due to growing awareness of end-users about smart parking systems in the region. With the sudden surge in the number of passenger cars in China and India, initiatives taken by different state governments such as smart cities mission is expected to develop better parking and traffic management solutions in India. Due to huge adoption of parking management systems in different cities of Europe, the region dominated the global smart parking systems in 2016. Under the market segmentation by technology, the parking sensor dominated the market as compared to other components in the global smart parking systems market in 2016; however, the steering angle sensors is growing at a faster rate than other technologies.

Trends
The key trend observed in the global smart parking market includes increased consumer preference toward comfort and luxury that leads to high level of competition between OEMs to offer advanced driver assistance systems. The systems allow users to replace its daily, manual cash payments with account invoicing and application payments from their phone. The smart parking systems are being widely adopted by major cities and universities, especially in Europe and North America. In Europe and North America railway platforms, airports, public places and corporate complexes, authorities are planning to set up smart parking systems for better management of their parking areas and heavy traffic congestions.

Growth Drivers
The government initiatives toward the adoption of smart parking systems is one of the major factors driving the smart parking systems market. The demand from upcoming smart cities is expected to drive the global market. With the growing number of hospitals, shopping complexes and corporate hubs, the demand for smart parking systems is increasing. Another important factor driving the market is easy accessibility of smart parking systems, its economic nature and ability to reduce carbon footprints in the atmosphere. It accesses and maps the status of vacant parking spaces from any location through mobile-based apps or web browser. Thus, it significantly reduces the risk of finding the parking spot and also reduces unnecessary travelling time of vehicles across filled parking slots in a city. The smart parking systems reduce CO2 emissions in urban cities by bringing a plunge in search for vacant parking lots by car owners and helping them in properly managing their parking availability and reducing traffic congestions.

Competitive Landscape

The global smart parking market reported a consolidated structure in 2016, where the market is led by a few global players. The key regional players operating in the market include Valeo S.A., Continental AG, Robert Bosch GmbH, Kapsch TrafficCom AG, Cubic Corporation and TKH Group-Park Assist.

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Train Control Management System Market(TCMS) Report, Business Outlook | 2017-2023

The global train control management system market is estimated to generate $4.9 billion revenue by 2023, recording a 8.8% CAGR during the forecast period (2018–2023). The factors driving the growth of the market are an increase in the demand for safety and security of trains and passengers, advancements in railway technology, infrastructural development, and rapidly increasing urban population.

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Train control management system (TCMS) is a system that acts as a single platform for the control for all train sub-systems. It collects information related to tracking circuits and route setting through signaling. The exchange of information happens at two levels: between the train and control center, and among various systems within a train. Thus, such control solutions enable railway companies to monitor the rail traffic and achieve optimum operational efficiency.

On the basis of component, the train control management system sector has been classified into mobile communication gateway, human-machine interface, vehicle control units, and others. Out of these, the vehicle control unit category accounted for the highest revenue in 2017 and is further predicted to hold on to its position as the market leader in the near future as well. Vehicle control units help in the proper functioning of each system within a train, coordination among trains, and train running time and frequency maintenance.

Advancements in the rail technology are driving the growth of the train control management system market

However, due to better operational efficiency, onboard video surveillance features, and enhanced safety and security, the mobile communication category is anticipated to witness the fastest growth during the forecast period. Across the globe, Europe dominated the train control management system industry in 2017 with more than 45.0% revenue share. The expected future scenario is similar, wherein Europe will continue dominating the market.

Hence, countries are either upgrading their existing trains or adopting these TCMS solutions for new rapid transit systems. TCMS ensures the safety and security of the passenger, and thus the train control management system market is expected to progress.

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