Herbal Medicine Market Forecast by Product and Indication

20 February 2019, The global Herbal Medicine Market is expected to reach USD 117.02 billion by 2024, driven by rising popularity of herbal therapeutics compared to conventional drugs. The market for herbal medicines and remedies is anticipated to record profitable growth due to their cost-effectiveness as compared to allopathic ones.

Herbal Medicine Market

In 2016, Europe was the largest market for traditional medicines, contributing to 40.8% of the share and is expected to retain its leadership during the forecast period due to shifting from conventional drugs to herbal products. Fewer side effects and low toxicity compared to allopathy products are expected to provide a competitive advantage over other medicines in the market. Additionally, ready acceptance of herbal products owing to its benefits is the key factor for market growth and is expected to play a significant role in future.

Increased preference of complementary and alternative medicine (CAM) among others has resulted in the growth of herbal medicines in Asia Pacific. Asia Pacific is expected to record the fastest CAGR of 6.8% over the forecast period. Furthermore, Europe is anticipated to generate maximum revenue over the forecast period due to increasing awareness created by various associations such as Association for Natural Medicine in Europe (AIME).

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Concerning product segment, tablets & capsules are expected to witness the fastest growth owing to increasing acceptance of tablets over extracts and powders. Furthermore, properties such as high dose accuracy essential for optimum therapeutic effect will, in turn, promote the herbalism market growth. The extracts segment is expected to grow at a lucrative rate as they show an immediate therapeutic effect on administration.

For instance, in geriatric patients, extracts and other liquid dosage forms are preferred for administration as tablets show delayed therapeutic effect. Furthermore, extracts provide high potency as they possess only the active ingredients and no fillers which are present in tablets & capsules.

The rigorous focus on developing better extraction and purification techniques by herbal medicine manufacturers is expected to fuel the market. Furthermore, respective governments are also introducing several strategies to promote the uptake of herbal medicine market. For instance, in July 2017, the Chinese Ministry of Science and Technology invested USD 12.5 million for development of herbal treatments for the treatment of cancer and HIV/AIDS.

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Coconut Water Market Forecast by Form, Packaging, Distribution Channel

19 February 2019, The global Coconut Water Market is expected to reach USD 5.86 billion by the end of 2025. Shifting customer preference towards healthy refreshing and rehydrating drinks from carbonated drinks has shifted the positioning of coconut water from a niche health product to a daily drink. The global increase in demand has outstripped supply, which is largely addressed by Asian countries such as Thailand, Indonesia, Philippines, and India.

Coconut water is largely consumed in liquid form, which continues to dominate the market. However, it has a short shelf-life and tends to lose its nutritional benefits when exposed to air and temperature. While liquid form will continue to have a high market share, relatively high demand is expected in the powdered coconut water. Powdered form retains natural flavors and nutritional benefits for a longer duration.

North America and Europe are expected to foresee volume growth at CAGRs of more than 20.0% from 2017 to 2025. In the U.S., coconut water has gained adoption as a ready-to-drink (RTD) beverage and is increasingly perceived as an alternative to processed fruit juices and carbonated drinks.

Product innovation is one key strategy adopted by companies, wherein coconut water is available in multiple flavors including pineapple, mango, lime, mango, and watermelon. Flavored coconut water has gained popularity among athletes and fitness enthusiasts.

In Asia Pacific, fresh coconut water is highly preferred, mainly in tropical countries. However, packaged coconut water is expected to grow with the increasing adoption of packaged food and beverages at large. Factors such as convenience and hygiene are expected to play a critical role in the growth of packaged coconut water in the Asia Pacific region.

In addition to flavors, companies are focusing on adopting new packaging designs to offer convenience in consuming coconut water while on-the-go. Tetra packs are the preferred form of packaging and have seen adoption by multiple brands such as Vita Coco, ZICO, and O.N.E.

Tetra packs are expected to continue to dominate the packaging space, followed by plastic packaging. In 2017, tetra packs commanded more than 40% of the market and is expected to continue to dominate the market.

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The market is fragmented in nature with the presence of multiple companies having various active brands. Over the coming years, companies are expected to launch new products, focus on product packaging and business expansion. Mergers & acquisition is also evident where established companies such as The Coca Cola Company and New Age Beverage Corporation have acquired companies to strengthen their position in the market.

While New Age Beverage Corporation acquired Maverick Brands LLC in 2017, The Coca Cola Company acquired ZICO, a popular coconut brand. In addition, food products companies are investing in the market to mark their presence. For instance, in February 2018, Danone, a leading food products company, invested USD 30 million in Harmless Harvest brand. Harmless Harvest will use the funds for expanding its product portfolio and strengthening its distribution channel.

Hexa Research has segmented the coconut water market report based on form, packaging, distribution channel and region :-

Segmentation by form

    • Liquid

    • Powder

Segmentation by packaging

    • Tetra Pack

    • Plastic Bottles

    • Others

Segmentation by distribution channel

    • Offline

    • Online

Segmentation by region

    • North America

    • Europe

    • Asia Pacific

    • Central & South America

    • Middle East & Africa

Key countries market

    • U.S.

    • UK

    • Germany

    • China

    • India

Key players analyzed:

    • All Market Inc.

    • Naked Juice Company

    • New Age Beverages Corporation

    • Celebes Coconut Corporation

    • Vaivai SAS

    • C2O Pure Coconut Water, LLC

    • PepsiCo

    • The Coca-Cola Company

    • Harmless Harvest

    • COCOZIA

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Vegetable Oil Market Competitive Strategies and Forecast, 2016 to 2024

18 February 2019, Increasing vegetable oils application in fuel production, culinary, soaps and perfume formulations is expected to drive the global Vegetable Oils Market over the forecast period. Growing processed foods industry, particularly in emerging markets, is expected to drive vegetable oils consumption in the long run.

Vegetable oils are major feedstock in bio lubricants production. Tightening regulatory framework regarding disposability and recyclability of petrochemical derived lubricants has been driving bio lubricants demand, thus providing growth opportunities for global vegetable oil market. As a result of their recyclable property, vegetable oils have diverse applications as automotive oil, demolding oil, hydraulic oil, chainsaw oils and industrial oils. On basis of the above applications, several vegetable oil manufacturing companies are converging on producing modified renewable oil and mineral oil based products. This initiative by major companies will help in escalating vegetable oil market additionally favoring its consumption in mature markets that are governed by regulatory policies favoring eco-friendly products. Vegetable oils are used as source to produce bio ethanol which is further used for biofuels production. Growing demand for biodiesel in automotive, aerospace and aviation industries is expected to have a positive impact on the global market. in line with aforementioned, use of vegetable oils as an alternative energy source is projected to witness a rapid growth in the long run.

Vegetable Oil Market 

Major vegetable oils that find commercial applications include palm oil, castor oil, soybean oil, and sunflower oil. Sunflower oil emerged as a major product segment in the vegetable oil market on account of its health benefits such cardiovascular benefits, helps in preventing arthritis, asthma and colon cancer. Vegetable oil market has thus been gaining importance as a major health care product as it helps in cell structure repair apart from aforementioned benefits. Stringent biofuel policies in Europe and U.S. over accessibility of soybean oil have diverted the vegetable oil market towards other vegetable oils such as palm, palm kernel and sunflower oils.

On the basis of applications the vegetable oil market has been segmented into industrial, biofuel or biodiesel and the food segment. Currently, the use of vegetable oil in food segment occupies a major share in FMCG market globally. Biofuels is expected to generate maximum vegetable oil demand over the forecast period owing to increasing regulatory favorability towards unconventional fuel sources and subsequent vegetable oil sourcing as feedstock. Vegetable oils extracted from seeds and fruits are used for edible purposes. This significant characteristic of processed vegetable oil has increased its demand in animal feed additive industry, thus providing growth opportunities in terms of expanding application scope. In comparison to mineral oils, vegetable oils produce bio based lubricants of a high viscosity index, vegetable oils have also been found out to have better lubricity than mineral oils, hence many companies are focusing on replacing mineral oils with vegetable oils in order to provide oils with lower volatility, less smoke, better pressure performance and high viscosity. Vegetable oils as mineral oil substitutes are anticipated to foster global vegetable oil market growth over the next seven years.

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Very high consumption of oxidized polyunsaturated fatty acids (PUFAS), found in majority of vegetable oils such as soybean, sunflower and corn oil has increased the outcome of breast cancer in postmenopausal women. Furthermore corn oil possesses high polyunsaturated fatty acids that causes inflammation of the cells leading to many digestive diseases. Such health issues associated with vegetable oils might impede their consumption in edible applications such as food processing.

North America is a major regional market and is characterized by high vegetable oils consumption in biofuels production and bio-based products manufacturing. High consumer awareness regarding environmental effects of petrochemical derived products has led to high demand for bio-based products. This trend is expected to strengthen North America vegetable oils market. Europe is expected to register moderate to high demand over the forecast period owing to increasing EU initiatives promoting bio-based products production and consequent ECHA regulations towards petrochemical products. Asia Pacific is projected to witness immense growth on account of growing end-use markets such as biofuels, food processing and bioplastics. Abundant raw material availability in Southeast Asian markets is anticipated to have a positive impact on Asia Pacific vegetable oils production landscape.

Major companies operating in the global vegetable oils market include Total S.A., BP, Shell, Archer Daniels Midland Co., Bunge North America Inc., Cargill Agricola S.A., Fuji Oil, Dow Agrosciences LLC, United Plantations Berhad, and Savola Group.

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India hair care market is anticipated to grow significantly by 2024

15 February 2019, India Hair Care Market is anticipated to grow over the upcoming period owing to factors such as rising urbanization and increase in disposable income. Additionally, consumer need to appear presentable and professional in daily lives is also adding to the growth of hair care market in India. The rise in R&D investments for haircare products is also contributing to the growth of India haircare market.

The Indian hair care market also has the presence of traditional hair treatment techniques, which tend to impact the adoption of new categories such as shampoo and hair conditioners. Other categories such as hair colorants follow the above stated categories in terms of market share. The trend is expected to continue over the forecast period as well. One of the key challenges in the hair care market in the Indian context is the prevalence of unorganised market, where traditional kirana shops tend to dominate the distribution aspect. This on the other hand, presents a considerable growth opportunity for organised players to market their presence over the coming years.

Driving factors responsible for the growth of India hair care market includes rise in personal awareness, rising demand for haircare products from middle class consumers, increasing awareness, and availability of hair care products. Climate variations in India is another driving factor that tends to hamper the hair conditions living in a certain geographic condition, thus augmenting the demand for proper haircare products to adapt in such locations.

Hair cosmetics is an evolving field and the hair industry is continuously investing in gaining suitable resources to identify new components and hair procedures. India being a growth market for hair care products, tends to have the focus of multiple active vendors in the hair care market. With a relatively young population, combined with the increasing inclination towards hair care products, the market presents considerable growth opportunity for hair care market. Commercial scenario of haircare products in India includes rolling out innovative hair care cosmetics for men and women.

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In terms of distribution channel, the market is segmented as online channel and offline channel. Offline channel dominates the market in the Indian context followed by the online channel. The online channel is expected to witness significant growth supported by the prevailing broadband penetration and smartphone penetration in the market. The prevailing penetration of broadband and smartphones coupled with increasing awareness of hair care products and growing adoption among consumers is expected to aid market growth over the coming years.

In the offline channel, hair care market includes hypermarkets & supermarkets, department stores, and specialty stores. Hypermarkets & supermarkets tend to command a considerable share of the market within the offline channel. Among the other store formats, specialty stores format follows the hypermarkets & supermarkets format and is expected to gain more strength over the forecast period.

Hair care market in India is highly competitive with active vendors offering multiple products across the various product categories. Companies such as P&G and Hindustan Unilever have established presence with considerable product portfolio being offered at varying price points. Among the various active players in the hair care industry, Hindustan Unilever continues to be among the leading players. Some of the key players in India hair care industry include L’Oreal, Himalaya Drug Company, Procter & Gamble, Hindustan Unilever, and Patanjali Ayurved.

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DNA Diagnostics Market Analysis, Competitive Strategies, and Forecasts by 2024

14 February 2019, DNA Diagnostics is a technique used to detect and analyze the biological markers in the proteome and genome by applying the theory of microbiology. The utilization of this technique was initialised in early 1990’s. This technique is extensively used for detecting and testing of infectious, genetic and chronic diseases. Early disease detection and prevention becomes easy by the DNA diagnostics in order to increase the efficiency of chronic disease identification.

Some of the key factors that are driving the growth are increasing the prevalence of several types of cancers, myogenic diseases and infectious disease, acceptance or personalised medicines and improving molecular technology. In addition, increasing awareness of DNA diagnosis, continuous development of biomarkers and early stage curing of cancers are propelling growth and is expected to grow significantly over the forecast period. Furthermore, innovation in the proteomics & molecular technology, and reformed reimbursement policy is fuelling the over the past few years. However, the high cost of DNA diagnostics integration, lack of skill to handle complex & new platforms and stringent regulatory framework is restraining the growth. An increasing number of cancer patients, rapid shifting to personalised medicines from traditional diagnostics are key opportunities for players to propel expansion.

DNA diagnostics sector is segregated on the basis of its product into three types such as isolation & purification kits, software & service, instruments, and amplification kits. Owing to growing acceptance of DNA diagnosis, advanced healthcare facilities, competitive cost framework and availability of instruments have dominated the instrument segment. Software & service segment is expected to witness significant growth on account of technological advancement and rising interference of information technology over the forecast period. On the basis of technology, this sector is segmented into five technologies including mass spectrometry, DNA sequencing, PCR, in-situ hybridization, microarray and fingerprinting. Fingerprinting technology is further divided into polymerase chain reaction and fragment length polymorphism. Owing to the ability to separate and isolating property from collected samples PCR technology has the largest share.

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The industry is classified on the basis of applications into disease diagnostics, paternity testing, and forensics and organ transplantation. Disease diagnostics had acquired the highest share in 2015 and is expected to grow significantly over the forecast period owing to increasing rate of infectious disease, different types of cancers and myogenic diseases.  The industry is segregated into four segments on the basis of end-user applications such as self-testing or OTC, diagnostic laboratories, hospitals, the point of care and research laboratories. The hospital has acquired the maximum share of the DNA Diagnostics Market in 2015 on account of increasing use of diagnostics tests for the detection of the disease.

North America was estimated to account for the highest share in 2015, followed by Europe, Asia Pacific, and rest of the world. Owing to the presence of high technology infrastructure, investments in the development healthcare infrastructure and governments endeavour along with the high prevalence of chronic disease is propelling the growth of the North American sector. Asia Pacific is expected to experience significant growth owing to increasing funding for the healthcare infrastructure, rising population and increase in disposable income of population over the forecast period. In addition, continuous R&D activities in the DNA testing research and government initiative for the prevalence of chronic disease in this region will fuel expansion.

Some of the key players in the DNA Diagnostics Market are Abbott Laboratories, Roche Diagnostics, Thermo Fisher Scientific, Gene-Probe Inc., Novartis, Illumina Inc., Cephide, Johnson and Johnson, Sysmex, Bio-rad laboratories, and Bayer Diagnostic. Innovative products are being introduced in the DNA Diagnostics Market as the players are launching new products. Some of the key players are also entering into collaborations, partnerships and agreements with the hospitals & laboratories to strengthen their market position, enhance the market presence and gain a competitive edge over other players.

Widespread use of these techniques in various applications along with the higher incidence rates of chronic disease and increasing awareness of personalised medicines are key trends which will be expected to fuel the growth of DNA diagnostics industry over the forecast period. The major companies such as Abbott Laboratories, Roche Diagnostics, Thermo Fisher Scientific, Gene-Probe Inc., Novartis, Illumina Inc., Cephide, Johnson and Johnson, Sysmex, Bio-rad laboratories, and Bayer Diagnostic are expected to dominate the DNA Diagnostics Market over the forecast period owing to their continuous efforts intended to design and emphasize on new product developments to accommodate the consumer demand. This industry is expected to become highly competitive over the forecast period owing to the fact that it is driven by incorporation of new technologies and development of cost-effective products.

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3D Gaming Console Market Analysis, Competitive Strategies and Forecasts

13 February 2019, Hexa Research Inc. projects the global 3D Gaming Console Market to grow lucratively (over 12% CAGR) in the forecast period (2016 to 2024). Market volumes could surpass 61 million units by 2024. This may be attributed to the extraordinary gaming experience offered by 3D (three-dimensional) game consoles. Technical innovations have facilitated gamers to get a feel of the ‘real environment’ while playing.

Higher affordability of 3D display technologies, latest software, and advanced devices have triggered a transformation in the gaming & entertainment industry. 3D gaming consoles project the images of conventional 2D games in three-dimensional format.

Moreover 3D technology creates ‘near-perfect’ spatial localization that renders an accurate perception of surface materials in gaming. The ‘immersive’ feel thus offered is unparalleled. Demand is also buoyed by rising purchasing power. Youngsters, especially, are attracted to these games due to their realistic visuals.

A major constraint on industry growth is the high developmental costs of gaming software. Prolonged gaming has an adverse effect on humans, especially the eyes. Also, with smart phones equipped with three-dimensional technology, the demand for 3D consoles may drop.

The 3D gaming console market is split as per components, technologies, consumers, and geographies. Components include hardware and software. Some of the technologies are Leap Motion, Active Shutter Technology, Auto Stereoscopy, and Project Holodeck. Oculus Rift, KINECT motion gaming, Xbox IllumiRoom, and Polarized Shutter Technology constitute the rest. 

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Consumers of 3D consoles encompass gaming, healthcare,   and mobiles. Healthcare is anticipated to largely benefit from ‘virtual reality’ that uses 3D technology. Potential uses of these consoles across medicine include doctor training, pain management, surgical procedures, etc.

Sony Playstation, Microsoft Xbox, and Nintendo Wii are highly popular brands. Consoles are available in four types; namely hand-held, home, dedicated, and micro. Based on regions, the global market consists of Asia Pacific, Europe, North America, South America, and the MEA (the Middle East & Africa).

Europe reigned in 2015 and is expected to do the same till 2024. Asia Pacific held considerable shares in 2015. China is a major contributor to Asia Pacific. India, South Korea, and Japan are the other key consumers in this region.

Asia Pacific should be the fastest-growing geography during 2016 to 2024. This will be ascribed to its high population and innovative technologies (like 3D imaging, virtual reality, augmented reality, etc.). The U.S. is likely to witness rapid growth in the near future. Its attraction for three-dimensional consoles drives the nation.

Notable participants in the worldwide 3D gaming console market are Microsoft Corporation; Oculus VR; Apple Inc.; Sony Computer Entertainment Inc.; and Electronic Arts Inc. Sony is the industry leader. It focuses on innovations and strategic tie-ups. The company has entered alliances with software & hardware developers. Its latest product, ‘PlayStation 4’ generated sales volumes of 40 million units in May 2016. Its upcoming product - the ‘Morpheus VR headset’ is highly awaited.

‘Microsoft Corporation’ faces direct competition from ‘Sony’ products. It introduced ‘Xbox game stations’ and ‘HoloLens VR headsets’ to enter the 3D ‘games station’ industry. Most of the players are engaged in technological developments that will provide completely ‘immersive experience’ to gamers. They also enter partnerships and consolidations for the same.

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Healthcare Nanotechnology Market Analysis and Forecast by Application

12 February 2019, The global Healthcare Nanotechnology Market is anticipated to grow at a CAGR surpassing 12% from 2016 to 2024 (forecast period). This market is primarily driven by technological advancements & innovations in nanotechnology. Nanotechnology in healthcare aims at curing molecular & submicroscopic parts by monitoring & repairing, and by reconstructing them. This industry is propelled by development initiatives that are funded by government & private organizations that focus on neurological & cardiovascular ailments. Focus on enhancing drug efficiency also has a favorable impact on market demand. Nanotechnology is expected to gain importance in the areas of disease prevention, diagnosis, and therapy.

The global healthcare nanotechnology market is segmented on the basis of applications, end users, and regions. On the basis of applications, the industry is categorized into clinical cardiology, drug delivery systems, clinical neurology, molecular diagnostics, clinical oncology, and anti-inflammatory & anti-infective applications. The other applications are kidney andophthalmology, dental, hematology, and orthopedic. Clinical oncology is a rapidly growing segment due to the efficacy of nano particles to fight against cancerous tissues & tumors.

High incidence of cardiovascular anomalies can augment the cardiovascular segment over the forecast period. The market for nanotechnology applications in cardiology holds high growth potential in most developing & underdeveloped economies. The anti-infective segment is projected to expand considerably because of rising prevalence of air-borne diseases, bird flu, and swine flu. Based on end users, the market is trifurcated into ambulatories, clinics, and hospitals.

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The hospitals segment may expand substantially owing to rising cases of chronic ailments and high awareness about disease prevention. A number of large and medium sized hospitals have begun adopting nanotechnology. Unlike small hospitals that have limited resources, the large ones can adopt newer technologies because of favorable budgetary conditions.

Geographically, the global industry is divided into Asia Pacific, North America, Europe, and Rest of the World. North America held the highest share in terms of revenue in 2014. Factors, such as high investments and sophisticated technologies can fuel this region in the forthcoming years. Ongoing industry trends suggest that Asia Pacific may register a high rate of growth at the same time. Key regional drivers are surging disposable incomes, outsourcing of healthcare services, and growing population.

Prominent companies operating in the worldwide healthcare nanotechnology market are Celgene Corporation, CombiMatrix Corporation, Johnson & Johnson, Abbott Laboratories, and Teva Pharmaceuticals Industries Ltd. Characterized by stiff competition, the industry witnesses frequent business ventures and regional expansion initiatives.

Researchers & scientists are trying to develop nanosensors that can detect the occurrence of heart attacks (myocardial infarction). This could not only save lives but also money. Such a technology uses miniature blood stream nanosensors chips that can sense the onset of a heart attack. An individual with the help of this tiny chip can receive a warning on some wireless device or smartphone to immediately seek medical help. The updated version of this chip measures only ninety microns (a size way lesser than a sand grain). This combination of a smartphone and a nanosensor may even help detect certain types of cancers and autoimmune diseases. These sensors are mostly used in animals for glucose detection.

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360 Degree Camera Market is Expected to Witness Significant Growth by 2025

07 February 2019, The 360 Degree Camera Market is likely to witness momentous growth in forthcoming years. 360 degree or omnidirectional camera is a device having a field of view that covers the entire sphere or a full circle in the horizontal plane. It captures light coming from all directions falling onto the focal point and offers an uninterrupted view. It can be of great use in areas where large visual field extent is required. It allows users to capture the entire room, scene, and landscape in a single shot. Multiple lenses available in the product capture images from various angles and then stich them together to create a single 360 degree image or panorama image.

Introduction of omnidirectional product type by various manufacturers is anticipated to propel market growth. Increasing use of 360 degree images and videos on social media platforms, such as Facebook and YouTube, can also stimulate demand for omnidirectional cameras in the coming years. In addition, growing adoption of virtual reality (VR) based devices to watch videos shot through omnidirectional product types can impel the market growth. This is, in turn, likely to increase the purchase of these devices among consumers in order to have a high quality visual experience. Increasing use of panoramic cameras in movies to shoot action sequence can further boost market growth. Moreover, rising demand for safety and security arrangements in corporate companies, banks, and public places is anticipated to drive the market in future.

360 Degree Camera Market

The high price of 360 degree camera can restrict consumers from buying them for personal use, which is, in turn, likely to hamper the market growth in the coming years. In addition, low quality images captured from panoramic cameras using multiple lenses and then stitching them together can obstruct adoption of these devices.

However, advent of omnidirectional product type using single lens to capture videos and images can present lucrative opportunities for the market. For instance, 360Fly launched its smartest 360 degree 4K camera that uses single lens to shoot videos and capture high quality images. In addition, it is shockproof, dust proof, and water resistant in nature.

The market can be segregated on the basis of connectivity, resolution, and application. Based on connectivity, the market can be bifurcated into wireless and wired. High definition (HD) and ultra HD are the two types of resolutions available in the market. Leading applications in the market include military and defense, media and entertainment, digital photography, travel and tourism, healthcare, and automobile.

North America is a leading region in the market owing to high demand for omnidirectional cameras in industries, such as automotive, healthcare, and consumer electronics. Presence of a large number of market players and inclination of consumers towards technologically advanced devices are also anticipated to stimulate the regional market growth.

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Asia Pacific is likely to emerge highly lucrative in coming years owing to fast adoption of VR devices in countries such as, Japan and China. In addition, increasing use of omnidirectional cameras in gaming and entertainment is anticipated to propel the market growth. Rising demand for omnidirectional cameras in defense sector to provide real-life simulation to soldiers during their training can boost the market growth in coming years. Moreover, increasing number of manufacturers launching panoramic cameras in developing countries is likely to have a positive impact on the growth. For instance, Xiaomi launched Mi Home Security Camera 360°, which is equipped with night vision, real-time two-way talk, and intelligent motion detection. In addition, the device offers two storage options, including micro SD cards (up to 64 GB) and network attached storage (NAS) devices.

Increasing investments by automobile companies in driverless vehicles is likely to drive the market. Automotive manufacturers, such as Volkswagen, BMW, and Mercedes, are expected to launch autonomous vehicles in the coming years, which could, in turn, boost demand for omnidirectional product type. For instance, Daimler collaborated with Uber and has planned to launch self-driving cars in the next few years.

Some of the leading companies operating in the 360 degree camera market are GoPro, 360fly, Nikon, Insta360, and Samsung Electronics.

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Bicycle Market is Projected to Witness Substantial Growth by 2025

06 February 2019, The global Bicycle Market is anticipated to witness substantial growth in coming years owing to increasing use of bicycles in trekking and other adventurous activities. Bicycle is a common mode of transport in rural areas across the world. Growing concerns regarding health among consumers attributed to rising air pollution is anticipated to increase adoption of bicycles in urban areas. Widespread use of four wheelers for transportation has resulted in increased air pollution due to release of harmful emissions. Shifting consumer preference for green mode of transportation can reduce air pollution and improve living conditions.

Increasing use of advanced bikes among participants in triathlon can propel demand for gear equipped cycles to enhance speed when required. Increasing adoption of cycling as an effective way to exercise and maintain body weight can also impel market growth. Rising cases of obesity in adults and youngsters are likely to propel need for regular exercise to burn extra fats and reduce weight. In addition, supportive government initiatives to promote use of cycles and development of required infrastructure can drive market in the coming years. Moreover, shortage of parking space and rising traffic congestion in metropolitan cities are likely to prompt consumers to use cycle for short distances and save time.

Bicycle Market

Lack of infrastructure required to support bicycle commutation in developing countries can hamper market growth. In addition, increasing use of composite materials to manufacture light weight vehicles is expected to increase the cost, which can, in turn obstruct market expansion. However, rising demand for trekking, recreational, sports, and adventure activities will create lucrative opportunities for the market.

The market can be segregated on the basis of product, technology, and end user. Key product types in the market include hybrid, mountain, and road. Conventional and electric are the leading technologies employed in the market. Major end users of bicycle include women, men, and kids.

Asia Pacific is a leading region in the market attributed to supportive initiatives by local governments and development of infrastructure required to support commutation through cycle in countries, such as Japan, Singapore, and China. Japan is a key contributor to regional market growth due to rising popularity of Tokyo as an ideal city for cycling. Additionally, less number of road accidents and growing preference for cycling among daily commuters to travel short distances are likely to stimulate growth in coming years. Moreover, manufacturing companies in China are likely to target Australia and India in order to expand their operations in the coming years, which could further augment market growth in future. For instance, Mobike, the Chinese bicycle sharing company, launched its operation in Pune, India. The company is also likely to expand its business in other cities of the country in the coming years. Commuters can rent bikes and make payments through company’s application.

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Europe is likely to emerge highly lucrative in coming years owing to stringent government regulations pertaining to reduction of air pollution and carbon dioxide emissions. Increasing use of cycles in countries, such as Denmark, Hungary, Netherlands, France, and England, is also likely to impel regional market growth in future. In addition, continuous efforts by manufacturing companies to transform bicycles into smart bikes for safety purposes can drive the market in the region. For instance, Cyclotron Cycles introduced Cyclotron, the world’s first hubless smart bicycle, which is fully connected and loaded with advanced features controlled by an application named Cyclo. It is armed with two spokeless wheels and fully integrated brakes offering improved aerodynamics.

North America is likely to witness momentous growth in forthcoming years owing to rising demand for economical and convenient ways of transportation to navigate busy streets. United States is a key contributor to regional market growth owing to increasing use of bicycle to avoid vehicular traffic. In addition, easy availability of bikes on rent and online bike sales is expected to have a positive impact on market growth in the coming years.

Some of the leading companies operating in the bicycle market are Giant Bicycles, Accell Group, Merida, Hero Cycles, and Trek Bicycle Corporation.

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Graphite Electrode Market Forecast by Product and Application

05 February 2019, The global Graphite Electrode Market is expected to reach USD 5.68 billion by 2024 and is expected to grow on account of its increasing use for production of steel. Asia Pacific emerged as the fastest growing market and is projected to continue dominating as a result of the presence of robust steel manufacturers. The usage of graphite electrode has increased due to rigorous competition in the steel industry.

Rapid steel production and increasing spending on infrastructure in developing economies across the globe are expected to boost the demand for high-grade steel that is manufactured using electric arc furnaces (EAF). Adoption of advanced technology for steel production with the purpose of saving time and energy is expected to augment the demand for graphite electrodes.

The demand for electric arc furnace is expected to grow significantly as it offers several advantages such as production flexibility and low CO2 emission. It also saves raw material and energy due to its efficiency. The segment is likely to grow at a 4.1% CAGR over the projected period.

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Graphite electrodes offer excellent thermal resistance and high current carrying capacity which makes them a suitable choice in electric arc furnaces (EAF) steel, refinement of steel and similar smelting processes. Besides EAF and LF, graphite electrodes are also used for electrolytic aluminum smelting and electrical discharge machining (EDM). The development of these non-steel applications is also anticipated to provide an opportunity for market growth over the forecast period.

Ultra-high power graphite electrode is expected to grow at the highest volume CAGR of 4.1% over the forecast period. Despite the high price of the product, the demand for these products is anticipated to be high in line with the rising demand for superior steel quality in various niche applications within the aerospace, automotive and electronics sectors.

A specially prepared flux pitch used in graphite electrodes helps to increase the durability and density of the final product. Ultra-high bending resistance, low electrical resistivity, and high-temperature resistance properties will increase the demand for UHP graphite electrode over the forecast period. In compliance with the driving factors, companies are focusing on mergers & acquisitions and capacity upgrades to expand their presence in global market. For instance, in January 2014, Kaifeng Carbon Co., Ltd.’s completed its Phase II expansion and can produce 50,000 tons of UHP graphite electrodes.

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