Storage Area Network Equipment Market is Projected to Witness Strong Growth by 2025

The global Storage Area Network Equipment Market is expected to witness robust growth over the coming decade. Rising need to minimize the complexities of organizational storage systems and increasing adoption of virtualization technology by many companies are key factors contributing toward market growth. Furthermore, growing adoption of fiber channel over Ethernet is boosting demand for storage area network (SAN) equipment.

The market has been witnessing increased application of SAN devices in the cloud computing domain. The various facilities of SAN switch and adapter devices are forcing cloud service providers to accept these devices to provide better and more reliable services to end users. With these switches and devices, organizations can control storage virtualization, improve utilization of storage resources, and simplify storage management.

Low upgradation cost of storage area network is another driver boosting the industry. A large amount of data is being created on a daily basis, which leads to need for additional data center infrastructure for management of said data. This upgrading of infrastructure includes incremental costs for storage subsystems, flash, servers, solid state drivers, and network-attached storage. SAN technology helps in minimizing these costs as the storage management in this system is independent of additional hardware storage and is based on low-cost software.

Key components for SAN equipment include host bus adapters (HBA), switches, and cabling. HBA is an integrated circuit device that provides I/O processing and physical connectivity between a server and storage device. Wiring is used to connect the HBA’s port to the corresponding switch. Cabling can be optical fiber cabling or copper wiring. Optical fiber cabling offers several benefits such as high performance, reliability, scalability, speed, and ability to work efficiently in long-distance connections.

Leading end-use sectors include manufacturing, energy and utility, public sector, transportation, banking and financial services, and telecommunication.

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Regionally, the global storage area network equipment market encompasses Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. North America and Europe are prominent markets due to rising efforts toward reduction of operating expenses and simplification of IT management. Moreover, establishment of large businesses implementing SAN equipment is anticipated to increase demand in these regions.

Asia Pacific has been identified as a highly lucrative market. In emerging countries such as Japan, India, and China, rising per capita income, growing population base, and increasing data traffic are having a positive impact on market growth.

Leading service providers in the market include Cisco Systems Inc.; Emulex Corp.; Brocade Communication Systems Inc.; and QLogic Corp. Other prominent vendors include ATTO, Arista, Intel, Mellanox, Neterion, Myricom, BLADE, Chelsio, LSI, and Voltaire.

Most players are focusing on introduction of advanced solutions to improve their offerings and strengthening their position in the market. Other competitive strategies adopted by major players to increase their market share include partnerships, agreements, collaborations, and acquisitions. In March 2016, Emulex Corp. and Brocade Communication Systems Inc. launched a new product called LPe32002 FC Host Bus Adapter. This Gen 6 (16/32 Gb) fiber channel is designed to address the demanding reliability, performance, and management requirements of modern networked storage systems.

QLogic Corp recently launched the QLE2690 Series of enhanced Gen 5 FC adapters and the QLE2700 Series of Gen 6 FC adapters. These new adapters are designed for data centers that require elevation in fiber channel performance, reliability, power efficiency, and investment protection to cater to rising demands of private and virtualized cloud environments.

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Low Cost Car Market is Expected to Grow at a Healthy CAGR by 2025

The global Low Cost Car Market size was estimated to be over 80 million units in 2015. Increasing purchasing power parity along with mobility needs are expected to drive market at a healthy CAGR. High demand from first-time vehicle buyers is supposed to further boost the growth over the forecast period.

After global recession of 2008, major companies in automotive industry found it difficult to balance between future market demand and financial crisis. However, inexpensive vehicles proved to be an answer to tackle this crisis. Rising automotive demand from middle class customer segment also played a crucial role in recovery from the economic crisis.

Cheap car prices range up to USD 9000. Inexpensive cars are designed by keeping low-income group in mind. Lower per unit profit margin can be compensated by bulk sale volumes. Easily available financial assistance is expected to be a key market driver. Increasing income level of middle class in emerging regions is another major driver for low cost car market. Government subsidies providing the required leverage is anticipated to bode well for the budget vehicle segment.

Increasing popularity of online vehicle stores is expected to emerge as an attractive option for car manufacturers and customers as it cuts down cost of appointing new distributors. E-commerce also provides customers with a choice of buying vehicle directly from the distribution center. Cost constraints restrict automotive manufacturers from employing advanced technologies and cars only have simple mechanical assemblies. Budget vehicles are designed in such a way that they can be repaired by local mechanics. This makes them an affordable option for consumers.

Passenger safety is one of the greatest challenges as manufacturers find it hard to use higher security components under specified budget. Emission regulations like EURO III and EURO IV and other such stringent safety and environmental regulations make it difficult to keep production cost to a minimal. Diverging market conditions, digital demands, and shifting competitive landscape are other challenges faced by budget vehicle manufacturers.

Stringent environment regulations require automotive pollution control, which mainly depends upon overall vehicular weight. Use of low weight high strength materials such as composites can be a solution but expensive solution. Hence, cost constraints associated with inexpensive cars makes it challenging for the manufacturers.

Strategic alliances with suppliers are expected to be a key to maintaining profitability in the low cost car market. Budget cars are based on the design to cost concept. This concept provides an array of opportunities for suppliers to participate with significant responsibility. Examples of such opportunities include engine controls and anti-lock braking systems developed by tier-1 suppliers like Bosch. The company has partnered with TATA Motors for developing common rail diesel injection system for a new model of TATA Nano.

Growth of this market largely depends on the quality of end product. Sometimes the entire business model has to be reviewed to achieve the same. Manufacturers are setting up facilities in high demand markets. This gives strategic advantage to the companies familiar with local markets as they have detailed knowledge about pricing trends and key purchasers.

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Based on fuel type, inexpensive cars can be either petrol or diesel. Petrol fueled vehicles were expected to enjoy a greater share owing to price sensitivity of first-time buyers. Petrol engines being cheaper than diesel engines are supposed to be the preferred choice amongst consumers in this segment.

India and Southeast Asia are expected to be the emerging markets for low cost cars. Meanwhile, Chinese and Russian markets are projected to move beyond the cheap vehicle segment due to increase in income levels. Asia Pacific is anticipated to dominate the global market in terms of sales, with China being a key market. India is also anticipated to emerge as a prominent region by the end of the forecast period.

Lower entry level prices are supposed to generate a larger customer base. Pricing policies will be of strategic importance for such price sensitive segments. Major companies operating in low cost vehicle market include TATA Motors, Maruti Suzuki, Hyundai, Renault, Chery, Geely, and Fiat. Most players are primarily focusing on launching new brands specifically for budget cars to create product differentiation.

For instance, Renault acquired Dacia, a Romanian auto maker to introduce a cheap car Logan in Europe and India. General Motors which introduced a mini car Spark, is expected to introduce another budget vehicle in the coming years. Skoda is planning to invest in product development with an aim to expand its presence in India.

Other modern low cost vehicle includes TATA Nano, Geely HQ SRV, Chery A-1, and Maruti Suzuki 800. Large companies are focusing on cooperative agreements to strengthen their position in emerging markets. Efforts put in by various automotive manufacturers to increase market penetration is expected to foster market growth over the forecast period.

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Knowledge Process Outsourcing (KPO) Market is expected to Grow at an Extensive Pace by 2025

The global Knowledge Process Outsourcing (KPO) Market is anticipated to grow at a considerable pace over the forecast period. Increasing need for enhanced flexibility in Service Level Agreements (SLA) is one of the major growth drivers. Rising requirement to process and analyze the vast amount of enterprise data and easy change management are also expected to drive demand for KPO services. However, stringent rules and regulations set by different governments regarding compliance and legal clauses may hinder this growth to an extent.

Owing to various advantages of outsourcing, most companies are looking for third-party specializations and analytical expertise for their businesses. Hence, high preference of enterprises to outsource businesses to third party service providers may bode well for adoption of KPO solutions in near future. However, highly competitive market scenario and increasing globalization may hinder the pace of commercialization of services and products.

BFSI capital markets require investment managers to better and faster strategic decisions. This factor is anticipated to drive demand for middle office outsourcing. It improves cost driven abilities of strategic platforms and allows investment managers to carry out business strategies more efficiently. This, in turn, is expected to have a positive impact on demand for knowledge process outsourcing in the forthcoming years.

Healthcare, BFSI, and retail are the major end users in the global market. Healthcare is anticipated to witness the most significant growth in outsourcing knowledge intensive services. Biotech and pharmaceutical are the sub-industries of healthcare sector for drug discovery and clinical research. Types of services carried out by KPO include consultancy, research and development, legal and medical services, intellectual property research for patent applications, business and market research, and training.

North America, Asia Pacific, Middle East and Africa, Europe, and Latin America are the major market regions. Emerging economies such as Latin America and Asia Pacific are anticipated to witness impressive growth over the forecast period. Advantages such as favorable business environment, availability of trained professionals, high productivity, and low labor costs are some of the major regional drivers. These benefits are projected to encourage various leading companies to set up businesses in these developing markets.

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India is said to have immense growth potential for KPO solutions and services. Presence of highly skilled professionals and workers with particularized expertise in engineering, law, education, publishing, media, entertainment, industrial machinery, textiles, automotive, aerospace, software, electronics, insurance, biotechnology, healthcare, pharmaceuticals, and financial services is poised to bode well for growth of this region.

Healthcare is one of largest sectors in India in terms of volume and revenue. Employment rate in India has increased exponentially and the trend is expected to continue over the forecast period. Healthcare KPO solutions comprise medical devices, hospitals, clinical trials, telemedicine, outsourcing, health insurance, medical equipment, and health insurance. The Indian healthcare sector is growing at a fast pace on account of rising private and public expenditure and strengthening coverage among many other factors.

India’s advantage lies in its abundance of well-trained medical professionals. The country is cost competitive compared to Western nations and other Asian countries. Although India is a KPO destination for companies from Australia, U.K., and North America; growing number of enterprises in Europe is expected to give a fillip to market in the forthcoming years. Numerous U.S.-based including Caterpillar, Inc.; General Motors; Ford Motor Company; United Airlines, Inc.; Morgan Stanley; Reuters, Goldman Sachs Group, Inc.; McKinsey & Company, Citigroup, Inc.; JP Morgan Chase & Co.; Motorola, Inc.; Koninklijke Philips N.V.; Sun Microsystems, Inc.; Texas Instruments, Inc.; Cisco Systems, Inc.; Oracle Corporation, Intel Corporation; Microsoft Corporation; Hewlett-Packard Company (HP); IBM; and GE have successfully ventured into India.

Global pharmaceutical firms such as Eli Lilly and Company, GlaxoSmithKline plc, AstraZeneca plc, Novartis, and Pfizer have moved part of their clinical drug testing units to India to tap into the country’s large number of highly skilled and low wage demanding labors. It can considerably accelerate the time to market for new drugs and can offer potential cost savings of up to 50.0%. This factor is expected to have a positive impact on the market over the forecast period.

Key vendors in the global knowledge process outsourcing (KPO) market include Wipro, RR Donnelley & Sons, Genpact, and Mphasis. Other prominent vendors include Cognizant; Adventity Global Services Pvt. Ltd.; Syntel, Inc.; The Smart Cube Limited; Mu Sigma; Aranca Research; Accenture; EXL Services; Infosys Limited; McKinsey & Company; Pangea3; Pulsar Knowledge Center; Oracle Corporation; SAP SE; TechBooks, Inc; Grail Research; Moody's Corporation; Tata Consultancy Services; WNS Global Services; Pipal Research; RocSearch; and IP Pro.

Investments in digitally-powered business processes through patented processes and operating models for end-to-end, including the back and middle offices can positively influence demand for KPO solutions. Research and development and business collaborations are also expected to propel business opportunities for the companies operating in this market.

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Aluminum Composite Panel Market Size, 2015-2025

The Global Aluminum Composite Panel Market size is anticipated to attain a significant size in terms of value by 2025. Increasing number of construction projects and growing global population are likely to stoke the growth of the market. Besides this, rapid urbanization and rising consciousness among people for environment conservation are contributing to the growth of the market.

Increasing use of aluminum composite panels in mass transportation systems in cities is also expected to encourage the development of lightweight and cost efficient products. In addition, ACP can be produced in a wide range of metallic and non-metallic colors as well as in varied patterns that emulate other materials such as wood or marble. Surge in demand stems from various advantages offered by these panels including lightweight, efficiency, easy maintenance, reduced fuel consumption, and subsequently decreased carbon emissions.

While adding visual appeal to application areas, ACPs are extremely lightweight owing to structural design of a low-density core inserted between two relatively thin skin layers. Therefore, they help in reducing load of buildings and construction sites, while ensuring strong and sturdy support to the structure.

Panel rigidity is provided by interaction of its components under flexural load. Low-density polyethylene or a mix of polyethylene & mineral material in the core exhibit properties of fire retardants, which reduce maintenance costs arising from corrosion. They require easy maintenance in almost any kind of climate through a regular wash with water and mild detergent, ensuring long lasting performance. Further, their attractiveness and usefulness increase as they are resistant to acid, alkali salt spray, and pollution at the same time providing good thermals and sound insulation.

Moreover, growing use in public transportation systems, aircraft, and external and internal building architecture is projected to have a positive impact on the growth prospects. Mass rapid transport systems, intercity transportation services, bus facilities, and monorails, among others, are gaining popularity owing to cost effectiveness, safety, and time convenience. In building architecture, the product can be used for false ceilings, partitions or claddings, signage, machine wrappers, and container constructions, among others. For applications pertaining to signage, it is used as an alternative to heavier and high price substrates.

Flexible and easy forming and processing of aluminum composite panels allows innovative designs and are used as a lightweight and sturdy material in transient structures such as trade show booths and other temporary structures. Growing use of these panels as backing material in mounting fine art photography is increasing their prominence as an aesthetical product. 

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Nano self-cleaning composite panels, which have better self-cleaning function compared to traditional polyvinylidene fluoride (PVDF) variants, are likely to shape the future of the market. Nano self-cleaning aluminum sheets prevent formation of dust and black marks on surface of sheets even after considerable use, which is stirring up their demand.

ACPs with acrylic finish using processes such as Diasec increase the artistic appeal of the product. Aluminum composite panels conform to internationally-accepted energy conservation building code (ECBC), according to which buildings must conserve energy. Airspace created between the panel and the wall helps in better insulation and energy conservation.

Due to price volatility in the London Metal Exchange, the future exchange for base metals and other metals leads to uncertain prices of aluminum at different points of time and poses a significant challenge for vendors. Lack of standardization of pricing of aluminum composite panels owing to uncertainties in the market prevents the product from penetrating into emerging economies. Further, flammability of core non-aluminum material poses significant problems to its usage. These factors are limiting the aluminum composite panel industry from realizing its utmost potential.

Some of the key types of coating used for aluminum composite panels are polyvinylidene fluoride (PVDF), fluoropolymer resins (FEVE), and polyester paints. These panels are primarily used across industries such as building and construction, aviation packaging and building, automobiles, commercial transportation, oil and gas, and defense. Building and construction is expected to be one of the prominent end users over the forecast period.

China is a significant revenue contributor in the global aluminum composite panel market. Rising number of construction projects and being the biggest recipient of Foreign Direct Investments (FDIs) from around the world, the market in China is anticipated to expand at a noteworthy growth rate during the forecast period. Favorable atmosphere for business and investments in South Asia and India is expected to positively influence the growth of the overall market. Rapid urbanization and rising disposable income are anticipated to boost the demand for aluminum composite panels. Political scenario and current policies in Japan are encouraging private investments, which in turn will fuel growth prospects over the forecast period.

Primary vendors include Alcoa, Alcobond, Alubond, Guangzhou Xinghe, Jyi Shyang Industrial, and Kaidi Industry. Vendors are investing in development of new technologies, R&D facilities, and keeping up with emerging trends to sustain competition in the market. Innovative products and financial expertise are some of the key strategies adopted by vendors to render competitors’ products non-competitive in the pre-launch period itself, even before they can recover commercialization costs.

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Gallium Nitride Semiconductor Devices Market, 2025

The global Gallium Nitride (GaN) Semiconductor Devices Market size is expected to witness significant growth over the forecast period. Gallium nitride is a robust material that encompasses several chemical properties due to which it is suitable in the manufacturing of various semiconductor devices. The global GaN market has been facing rigid competition from Silicon Carbide (SiC) semiconductor devices sector, over the past few years. However, the popularity of the product is anticipated to grow at a fast pace on account of tremendous rise in its application markets.

Development of new technologies and increasing application scope of the product are the key drivers of this market. GaN-based devices have tremendous applications in hybrid and electric vehicles, while expensive industrial processes are one of the key challenges for this market. Another significant factor driving the GaN semiconductor devices market is the rise in the Radio Frequency (RF) semiconductor devices industry. The RF electronics industry has marginally different needs on characteristics of its components, semiconductor devices, and electronic devices associated with other segments of the global electronics sector.

The global Gallium Nitride semiconductor devices market is interconnected to the communications industry and involves usage of electronic devices to function at a wide range of communication frequencies, from standard frequencies to high ones, depending on the applications. Gallium nitride semiconductor material has great power characteristics, as well as high operating frequency. The product is widely used in the manufacturing of blue light-emitting diodes for Blu-ray disc players and blue laser diodes. The growth of this sector is expected to have a positive impact on the industry over the next seven years.

Among the several product applications, consumer electronics sector accounted for the largest market share over the past few years. This was attributed to wide usage of the product in LED-based display and LED-based lighting. The communication sector was the fastest-growing and second-largest application segment driven by the high product penetration in RF-based applications, including power electronics switching equipment.

Rising product demand from the industrial sector and solar power and wind energy industry is anticipated to fuel the growth of the global Gallium Nitride (GaN) semiconductor devices market over the forecast period. Rising application scope of the product in the aerospace and defense sectors, apart from Electric Vehicles (EVs), is also expected to offer numerous growth opportunities for the market development over the forecast period. These devices are much lighter, smaller, efficient, and tougher than silicon semiconductor devices.

They also work as perfect alternatives for their silicon comparable devices, which have hit the maturity stage. Several additional features offered by GaN-based devices include better stability in some radiation environments and low sensitivity to ionizing radiation. Gallium nitride devices also have a scope in high-end power appliances in the military, defense and aerospace sectors, solar cell arrays, and in satellites, which are expected to fuel Gallium Nitride semiconductor devices market growth over the next few years. The market also has enormous revenue potential in transportation and automotive sector, mainly in the Hybrid Electric Vehicles (HEV) and EV segments of the industry.

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Increasing demand for HB LEDs in numerous application segments including automotive, television, smartphones, general lighting, and signs owing to their lower energy consumption and superior brightness is expected to drive the demand. Rising consumer awareness regarding the benefits of using HB LED such as lower power consumption and superior brightness for residential as well as commercial applications are expected to bolster growth.

Demand for these lighting solutions was highest in consumer electronics including laptops, TV backlight and smartphones to provide superior luminescence even in dark lighting conditions. The segment accounted for 56.3% of the market share in 2016 and is expected to continue its dominant trend over the projected period. Increasing consumption of HB LEDs in 4K TVs coupled with the growing sales of these products is anticipated to drive the market over the next few years.

Automotive is expected to exhibit the fastest growth over the forecast period at a 10.2% CAGR from 2017 to 2024. Although LEDs have penetrated the automotive market, HB LEDs are increasingly used as a safety measure for visibility along with reducing the power consumption. Increasing production of automobiles is expected to propel the sales of these lighting solutions over the next few years.

Keeping these driving factors in mind, companies are ramping up their production capacity as well as seeking out new joint ventures to improve their distribution system. For instance, in March 2017, Samsung signed a MoU with Elec-Tech International (H.K) Co, Ltd. to leverage the latter’s technology and market share in China. On the other hand, ETi is likely to benefit from Samsung’s patent protection and brand strength.

As the demand for high-brightness LEDs has been growing, it has led companies to increase their fabs. The LED manufacturing industry has roughly added 100 new fabs in the last five years increasing the tally to 169 fabs worldwide.

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