4 Key Technologies That Will Change How the World Looks at Enterprise Asset Management

As one of the key aspects of resource management for any business, enterprise assent management (EAM) is a crucial step aimed at optimizing physical assets of a business for the best possible efficiency and quality of the end product or service. Moreover, growing emphasis on environment, safety, and health regulations at workplaces are anticipated to significantly encourage the use of enterprise asset management systems for the foreseeable future. While enterprise asset management systems have largely stayed unchanged, technologies in recent years are set to evolve at a rapid pace in the near future.

As per a recent study by Future Market Insights on the global enterprise asset management market, applications in end-use industries such as energy production, oil and gas, mining, and manufacturing are anticipated to generate demand for EAM in years to come.

IoT Technologies Generate Predictive Capabilities for EAM Systems

IoT technologies have massive potential to improve the capabilities of modern EAM systems, through the digital evolution of manufacturing procedures. Internet of things, coupled with enterprise asset management, end users can rely on complete automation of operations, predictive maintenance schedules, higher cost savings and overall productivity.

Conventional EAM systems usually set up calls for asset maintenance, only after the occurrence of a malfunction or failure, which results in significant losses during downtime, through stoppages in production. However, IoT based systems such as the SAP SE perform real-time analysis on the assets being monitored, which prevents breakdowns by predicting the approximate time of when maintenance is required, and automatically enabling a work order for the same, without any human interference.

Machine Learning Provides Users with Operational Insights

When coupled with enterprise asset management systems, machine learning technology allows end users to gain deep insights into the intricacies of their day to day operations. This can give manufacturers new benefits such as being able to implement smart programs that provide optimized maintenance procedures, depending on analysis of performance patterns, under different environmental conditions.

For instance, machine learning allows Microsoft’s Dynaway EAM system to step towards the incorporation of artificial intelligence by making extensive use of data on operational performance and other influencers of the end use industry to give recommended plans for the end users. Machine learning is expected to supports goal setting and benchmarking processes for future businesses in comparison to competitors.

Wireless Communication Innovations Build Mobile Functionalities

The physical presence of humans at a work station to operate enterprise asset management systems is soon set to be a thing of the past. With rapid proliferation of mobile devices and the development of compatible EAM mobile apps, users can access their business’s EAM system at any time and any place.

Mobile devices allow businesses to remotely view data on an asset’s performance, create service requests or work orders, or perform necessary maintenance easy, without necessarily being at the work place. Such functionality also allows real time responses to activity in the workplace.

Moreover, modern EAM such as those by Oracle and IBM corporations allows even those employees, with lower work experience to work efficiently by providing a user-friendly interface on mobile devices that they are already familiar with.

Mixed Reality Technologies Will Improve Visualization for Asset Management

Mixed reality, which is also known as hybrid reality is the virtual reality systems with the real world which allows the generations of hybrid workspaces through devices that allow enhanced visualizations that mix physical and virtual objects for real time interaction. The technology integrates augmented reality and augmented virtuality through the use of devices for immersive technology.

Although the development of mixed reality in asset management is still some way from becoming reality, most EAM system manufacturers are currently working on the development of such capabilities, owing to its inherent potential. For example, mixed reality headsets will be able to provide users with detailed visualizations about how to maintain any asset in a step by step process, which will allow even inexperienced workers to perform complex tasks with ease, and is expected to allow remote collaborations of workers situated in different parts of the world.

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Cling Films: Eco-friendly Material Innovations to Rev up Product Development

Cling film finds extensive applications in a wide range of end-use industries such as healthcare, consumer goods, industrial and food packaging sectors, owing to its highly durable nature, and ease of use in comparison to other alternatives. With an eye on the changing needs of the end consumers, manufacturers have increasingly developed and used new materials and production methods for achieving optimized results.

Improved Material Quality Boosts Preference for Cast Cling Film

Although blown cast films provide increased resilience, film memory, holding power, and durability, they are relatively more expensive, and often short on set quality standards. On the other hand, cast cling films which are made using a constant melting process on thermoplastic ingredients offer improved visual clarity, reduced noise, better stretch ability, and superlative resistance to wear and tear. Moreover, cast cling films are significantly cost effective, which are pushing its adoption for many end users.

Manufacturers Shift Attention to Eco-friendly Materials for Food Packaging Films

As per a recent study by Future Market Insights on the global cling film market, consumers have started to become wary of using cling film for food coverings, owing to the fact that heat may cause chemicals from the film to leak into the food, which may pose significant health risks, which is a key factor that is anticipated to restrict the proliferation of the material, worldwide.

As a result, leading cling film manufacturers have been observed to be experimenting with new eco-friendly materials. For instance, researchers at Tufts University have developed cling film made from water-based suspensions of silk fibroins. The film offers the benefits of reducing the diffusion of gases, permeability to oxygen, CO2 production, and dehydration, which results in longer shelf life and firmer structures of perishable foods.

Similarly, scientists from Georgia Institute of Technology School of Chemical and Biomolecular Engineering have created a cling film variant from chitin and cellulose extracts from crab shells and trees, which reduce the penetration of gases, especially when used in alternating layers owing to the opposite charges from cellulose and chitin, and the crystalline structure of the film, which makes it ideal for packing foods that have uneven surfaces or fragile structures.

Moreover, U.S. based, FKuR, has introduced a new range of biodegradable cling film. The bio-plastic materials are resistant to moisture provide additional benefits of cost and durability as it avoids the use of starch based materials.

Researchers have also developed edible cling films made from mango peels and seeds, which improve significantly on food safety, increase shelf life, and lower permeability of gas and water, at a relatively low cost, encouraging the adoption and research on other such materials.

Anti-Plastic Initiatives Set to Constrain Cling Film Manufacturers

Environmental concerns and constant additions to plastic control regulations by governments around the world are anticipated to significantly restrict the demand for cling film in the near future. For instance, the UK government is aiming to eliminate all single-use plastic from schools by the end of 2022, and start the use of sustainable plastics instead. Schools and parents have been told to discourage the use of cling film food coverings for lunch in this effort. This move is anticipated to hit the local cling film businesses, as they look towards sustainable alternatives to maintain operations.

Cling Films for Environment Protection

Scientists from the Australian Institute of Marine Science and the University of Melbourne have developed an ultra-thin cling film material that is estimated to be up to 50,000 times thinner than an average human’s hair. This innovation was developed with the aim of protecting the Great Barrier Reef of Australia from getting bleached through rising temperature by global warming, through breaking direct contact of sunlight from reaching the reef by up to 30%. Made from calcium carbonate, which is the same material that the reef is largely made off, the cling film is completely biodegradable, and poses no risk of additional contamination to the local aquatic life.

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Manufactures Bullish on Heavy Investments in Advanced Driver Assistance Testing Equipment in 2019

The automotive landscape has been constantly evolving. Technological developments such as artificial intelligence and machine learning have greatly penetrated the deployment of cutting edge systems into next-gen vehicles. Modern consumers demand effective technological assistance that helps in both simplified driving as well as enhanced safety. Owing to these requirements, the automakers and technology companies are making substantial investments in research and development to improve safety technologies in the vehicles. There are several initiatives taken by the governments across the regions to boost safety are further adding to the demand for advanced driver assistance systems testing equipment. Demand for precision testing of the capabilities of the system in a repeatable environment is becoming crucial, further surging the demand for advanced driver assistance systems testing equipment.

ADAS Testing: Autonomous Vehicles to Create Significant Growth Opportunities

The penetration of autonomous vehicles has created immense demand for systems such as advanced driver assistance systems, thereby creating demand for advanced driver assistance systems testing equipment. With the experience of driverless cars, the need for advanced driver assistance systems testing equipment remains crucial to ensure complete driver safety.

The leading provider of advanced driver assistance systems testing equipment, Konrad Technologies, demonstrated its advanced driver assistance systems testing equipment solutions at the Automotive Testing Expo China, include the automotive sensor fusion, lidar, combine radar, camera, ultrasonic sensors technologies used for developing autonomous vehicles, and GNSS. The Hardware-in-the-Loop (HIL) testing that has a sensor fusion is claimed to be a superior test methodology for conducting tests on autonomous vehicles in the lab.

New products by leading vendors with respect to advanced driver assistance systems testing equipment for autonomous testing is increasingly boosting the growth of the overall advanced driver assistance systems testing equipment landscape. For instance, the AB Dynamics, Ltd., a leading provider of advanced driver assistance systems testing equipment introduced a Guided Soft Target (GST) vehicle that is designed for use in autonomous vehicle and advanced driver assistance systems testing. This equipment helps in reducing the risk of damage to test vehicles and providing speed control, and precision positioning for generating repeated and reliable test results.

The automotive manufacturers testing autonomous vehicles are in continual need for state-of-the-art solutions. Advantest Corporation, a leading producer of test equipment recently demonstrated the new and highly efficient test solution for automotive sensors that are used in manufacturing advanced driver assistance systems for the automotive market. As sensors are increasingly utilized in the automobiles for the purpose of reducing fuel consumption and developing self-driving autonomous cars, there is a significant need for efficient test solutions to ensure reliability and performance of these sensors.

Catering to Requirements from Research and Development Avenues

Various entities investing in extensive research and development reflect profitable opportunities for the providers of advanced driver assistance systems testing equipment. Testing the capabilities of these systems acts as a major milestone for gaining traction for the companies operating in the advanced driver assistance systems testing equipment.

Companies such as AB Dynamics, are extending their capabilities in the advanced driver assistance systems testing to a German research institute, Kempten University of Applied Sciences for using the advanced vehicle driving simulator by AB Dynamics, in their Adrive Living Lab, in which they focus on research and development activities focused on autonomous driving and advanced driver assistance systems. This lab studies and evaluates the effect of the advanced driver assistance systems on an individual’s perceived comfort and safety feeling. The deployment of the simulators by AB Dynamics would enable researchers to gain objective and subjective Driver-In-the-Loop (DIL) feedback pertaining to the current and future system performance.

The advanced driver assistance systems testing equipment landscape is undergoing several innovations with the changing consumer demand in advanced driver assistance systems. Download the sample of a recent study on the advanced driver assistance systems, to know more about the opportunities held by the market.

Electronic and Software Advancements Widen Application Scope for Ultrasonic Pulse Velocity Testers

Ultrasonic pulse velocity testers find widespread applications in research organizations dealing in material science and other construction relevant non-destructive processes of ultrasonic material testing. These devices are widely utilized in the building construction and manufacturing sectors.

The demand for ultrasonic pulse velocity testers, by the end of 2019, is estimated to grow at a steady rate of more than 5%, as reported in a recent study by Future Market insights on the global ultrasonic pulse velocity tester market. Widespread application of ultrasonic pulse velocity is being used to test the quality of concrete or natural rocks in terms of non-destructive strength measurement, void and crack detection, homogeneity detection, and elasticity among others.

Void and Crack Detection Witnesses Higher Use in Testing Building Materials

The demand for void and crack detection ultrasonic pulse velocity tester processes is anticipated to grow at a robust growth of nearly 7%, particularly in North America, owing to the presence of numerous building materials, glass and concrete production businesses in the region, along with faster access to new innovations in the technology.

Constant improvements in the field of electronics and the application of ultrasonic waves in medical diagnostics have resulted in the widening scope of this technique. Void and crack detection through an ultrasonic pulse velocity test allows welding and geometry inspections for difficult to inspect areas. This can be attributed to its superlative ability of accurately detecting miniscule defects, in an automated and rapid procedure, with access to only a single surface of the object, without causing any destructive damage to the structure.

Innovations in computer software and three dimensional modeling, along with the introduction of transducer phased arrays and robotics created avenues for faster high resolution flaw identification imagery. Ultrasonic pulse velocity tester are overcoming limitations such as the reliance of couplants, and material handling systems through the use of combinations with water baths to integrate ultrasonic testing for inspection in production lines.

Infrastructure and Construction Applications Create New Opportunities

Infrastructure and construction testing through ultrasonic pulse velocity tests is projected to account for nearly 18% of the revenue share with notable growth in the terms of applications by the end of 2019. One of the recent innovations in the field is the generation of self-healing properties of concrete.

The successful application of this product is anticipated to revolutionize the construction industry, with drastic reduction of maintenance costs. Moreover, the development of self-healing concrete is based on research, on the basis of ultrasonic pulse velocity testing principles.

With the current research on self-healing innovations for concrete, there is an increasing need to create methods that enable the accurate evaluation, where any relative change in the building material’s characteristics, arising from the self-healing process will be evaluated through measurements of ultrasound waves, and related non-destructive methods, through cross and surface probing processes. This is anticipated to significantly boost the applications and demand for ultrasonic pulse velocity testing machines.

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Moringa Ingredients: Next Superfood Trend with Wide Range of Health Benefits

Moringa as a rich source of certain macro and micro nutrients is gaining popularity as an ingredient in producing food supplements. Moringa seed, leaf, and the flower is finding large application in food industry. There has been a growing demand for moringa leaf as an alternative food source to combat malnutrition among children and infants. Use of moringa ingredients as a food fortificant is on the rise in many parts of the world including Africa.

The use of moringa ingredients in fortifying food is gaining much attention worldwide owing to the studies that have shown potential use of different parts of moringa tree in food application. Recent studies have also shown positive effects of moringa in blood sugar regulation by affecting carbohydrate metabolism. This is driving demand for moringa in a most common dietary form including tea and powder.

Moringa ingredients are widely being used to improve the nutritional value of staple food across countries. Bread is a staple in many countries, hence, researchers and food companies are finding ways to completely replace wheat flour used in bread to make it gluten-free. This, however, poses a major challenge in the food industry. Recently, researchers found that combining moringa leaf, seed, and flower powder in bread dough prepared using wheat or any other flour can improve its nutritional value.

Moringa Leaf Powder as Alternative to Canola Meal in Poultry Diets

Considering the health benefits and nutritional value, there is a huge potential for moringa leaf power replacing canola meal as a non-conventional ingredient in poultry diets. A study was conducted recently to investigate the effects of moringa leaf powder on immune response, blood hematology and growth performance of broilers. The study found that moringa leaf powder as a vegetable protein source can enhance the immune response to infectious diseases without any change in weight, and blood hematology in broilers.

Diet supplemented with moringa leaf powder can lead to low mortality and enhance growth performance, meat yield and serum cholesterol of broilers. This is leading to the rise in demand for moringa leaf as a cost-effective and beneficial alternative in poultry food production, especially in the developing countries.

Poultry production companies in the developing regions are looking for a cheap and safe alternative source of protein. This is driving demand for moringa leaf powder as an alternative to other expensive sources of protein in poultry feed.

Europe Holds Potential Growth Opportunities for Moringa

Although the European market for moringa is still underdeveloped, there has been an increase in the sales of moringa ingredients across various countries in Europe. This can be attributed to the rise in consumer awareness about the health benefits of consuming moringa products. Suppliers in the developing countries are increasingly exporting moringa to Europe. Meanwhile, African suppliers have also been found entering the European market owing to the growing demand for moringa food products.

According to the CBI Ministry of Foreign Affairs, in 2017, export of moringa including leaf powder, seed, and other products from India was estimated to be around 100 to 200 tons to Europe, from around 500 tons global exports. Changing perception of health among consumers in Europe is one of the major factors driving moringa demand in the region.

Innovative product development in Europe is likely to fuel sales of moringa in the future. Major food and beverages manufacturers in Europe have started using moringa as an ingredient in food and beverages products. Additionally, there is a significant demand for food supplements promoting immune system health. This results in the new opportunities for producers of moringa providing moringa supplements.  

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Currently, there is a gap in demand and supply for organically certified moringa leaf powder. This supply and demand gap opens opportunities for producers supplying organic moringa to meet the growing demand across various countries in Europe.  

Increasing Mobile Subscriber Density Driving the Growth of the Telecom Tower Market

A recent Persistence Market Research suggests that the increasing mobile subscription density can be attributed to the introduction of affordable smartphone handsets in the market. The availability of offers has spurred stringent competition in the market which has further helped the smartphone market penetration. With the smartphone market witnessing exponential growth, the mobile subscriber density is rising.

Further, governments around the world are encouraging the inclusion of rural and underdeveloped regions into the extensive mobile network. With the initiatives, the authorities aim to improve the economy in the rural areas. Broadband and wireless connectivity in rural regions have been known to create jobs, increase income, and lower unemployment rates by connecting the area to the world and opening a gateway to a multitude of opportunities. Due to these factors, there has been a significant rise in the number of mobile devices and connections added to the network which has further bolstered the growth of the telecom tower market.

Infrastructure Sharing to Bolster Market Growth

The Persistence Market Research study opines that infrastructure sharing will play a crucial role in the growth of the telecom tower market. Numerous telecom companies are heavily investing in shared infrastructure deals in recent times. The pervasive trend has triggered stringent competition in the market with the shared infrastructure providing the necessary means for new entrants to launch their services at comparatively lower costs. Other benefits of mobile infrastructure sharing include cost reduction and faster data rollout. The factors have helped telecom operators gain a wider reach in the market at lower costs and promoted the construction of shared mobile infrastructure.

Technological Advancements Paving Way for New Opportunities

Increasing consumer reliance on cloud-based services has prompted the strengthening of wireless mobile infrastructure. Moreover, emergence of new technologies has helped in the utilization of mobile towers in an array of applications such as video surveillance, flood lighting, crime prevention, and for the purpose of mounting metrological equipment. In addition to these factors, introduction of 4G services to cater to the growing demand for faster internet services has been a major reason that has fuelled investments in the telecom tower market. Further, telecom companies are planning to replace the 4G technology with an advanced 5G cellular network protocol. In meet the technological demands for the 5G network, telecom operators are planning to heavily invest in the mobile network infrastructure. These factors coupled with the growing prevalence of IoT in multiple industries and other applications are estimated to play a key role in the growth of the telecom tower market.

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Increasing Awareness about Health Concerns Associated with Radiation Emission to Hamper Market Growth

Radiations emitted from mobile towers have been linked to a plethora of health problems. The waves emitted from the mobile towers are suspected to interfere with the human body’s electromagnetic force to give rise to health problems such as fatigue, insomnia, headaches, birth defects, memory loss, and cancer. In addition to this, the mobile towers and their power generators are found to contribute to noise pollution. Owing to these factors, regulatory authorities around the world have imposed restrictions on the construction of mobile towers in high-density population areas. Moreover, growing environmental concerns have prompted governments around the world to frame stringent regulations in order to reduce the carbon footprint of mobile towers. A combination of these factors is estimated to slow down the telecom tower market growth.

Rising Use of Water Pumps in Industries to Boost Global Water Pumps Market

Water pumps are a standout amongst the most imperative mechanical devices with application in households and various industries. Growing industrialization and urbanization in the growing nations as well as expanding utilization of water pumps in industries is boosting the requirement of water pumps worldwide. Growing wastewater reprocessing investment will assist to boost the demand for water pumps. Urbanization, manufacturing exercises, and the general population are the factors affecting the development of wastewater ventures and will noteworthily affect water pumps market.

Businesses, for instance, f&b, pharmaceuticals, as well as power are overwhelmingly water- dependent and would altogether influence the overall need for water. The production increment in these manufacturing industries leads to water adherence & upkeep to strict environmental rules indispensable. Moreover, governments of developing countries are investing vivaciously in wastewater handling in the wastewater business which is driving the water pumps market.

By end user applications, the worldwide market is segmented into the municipal water pump, industrial water pump, domestic water pump, and agricultural water pump. Among these, the industrial water pump has the highest market share. By technology, the worldwide market is segmented into positive displacement design and centrifugal water pump. The positive displacement design pumps are moreover categorized into rotary pumps, metering, and reciprocating. These pumps are usually bigger than centrifugal pumps of match-capacity. The centrifugal water pumps are utilized broadly in wells, buildings, hot water circulation in industries and fire protection system, while positive displacement design technology is employed in hydraulic systems.

Followed by North America & Europe, Asia Pacific is the leading market for water pumps. The region has the maximum growth rate, largely because of an upsurge in infrastructural development in rising nations like China & India. The centrifugal water pumps account for most of the market share as well as will develop further with a firm rate as a result of rising need from sectors, for instance, municipalities and oil and gas. The industrial water pumps are foreseeing growth at a soaring pace owing to intensifying industrialization in emergent APAC nations where gas and oil sector are the foremost water pumps end users.

The mounting water waste and water recycling treatment plants, mainly in China & India, is boosting the APAC market for water pumps. New progressions, for instance, in the water pump sector, the intelligent pump system is boosting their price benefits to the users. Besides water circulation, water pumps notice their use in a few domestic applications integrating into a house water fountain, water coolers, and gardening.

Conversely, certain elements are curbing the growth of water pumps market that incorporates the developing risk from unorganized companies in the region, mainly in the agricultural area. The poor agriculturists in the rising nations are economy driven and more willingly purchase low-cost water pumps as a replacement for reputed brands.

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Some of the foremost companies functioning in the global market for water pump are Saudi Pump Factory, Shanghai Kai Quan Pump (Group) Co. Ltd., Henan Province Xixia Automobile Water Pump Co. Ltd.,  Watson-Marlow, Inc., Kirloskar Brothers Limited, Torishima Pump Mfg. Co. Ltd., Weir Group PLC,  Weatherford International Inc, and General Electric Company.

Growing Popularity of Hemp Protein in Health Industry to Boost Demand, Reveals PMR Study

A recent analysis released by Persistence Market Research opines that the growing popularity of hemp protein in the health industry is one of the key factors driving the growth of the market. Hemp protein is labeled as one of the best plant-based protein which contains 20 amino acids, nine of which are the essential amino acids that human body cannot produce. Further, hemp protein is rich in albumin and edestin. The high concentration of edestin in hemp oil and other fatty acids in it improve energy levels, boost metabolic rate, controls blood pressure, promotes muscle development and repair, aids in weight loss, lowers bad cholesterol level, and improves cardiovascular functioning. Due to its ability to assist in the development of lean muscle while aiding in the repair of muscles after an intense workout, hemp protein is being increasingly used in protein powders.

Upsurge in the Demand for Organic and Non-GMO Products to Promote Widespread Adoption

Recent studies have linked the consumption of GMO crops with a multitude of health concerns. The consumption of genetically modified products has been linked to production of highly dangerous toxins in the human body that gives rise to multiple allergic reactions. Further, genetically modifying crops has been associated with a decrease in the nutritional value of the food. Generally, GMO crops require more herbicides than their natural counterparts for their growth. The use of additional herbicides pollutes the environment in addition to adversely impacting human health. Furthermore, the toxins produced inside the genetically modified crops could pollute the soil and impact the biodiversity of a region. The absence of a safety gauging process to predict the implications of GMO products on human health and the environment is thus driving consumers to shift to completely organic products. On the other hand, hemp protein is obtained from hemp seeds which are eco-friendly and can be grown without the use of herbicides, pesticides, and fungicides. The absolute organic nature of hemp protein coupled with its health benefits is a key factor driving the rising demand for the ingredient in the global market.

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Liberal Laws Paving the Way for Higher Hemp Production

Governments and regulatory authorities around the world are waking up to the benefits of hemp seeds and are understanding the vast potential the market holds. In order to capitalize on the rising demand for hemp products, governments around the world are slackening laws to accommodate the production of hemp. For instance, in 2018 President Donald Trump signed the Farm Bill which legalized the production of hemp as a crop opening a plethora of opportunities for businesses to invest in. The bill also legalized the use of hemp in the food and beverages industry. On similar lines, the European Industrial Hemp Association is working in close collaboration with European Parliament members to streamline the continent’s hemp industry and promote its production and usage in products. As a part of the initiative, the European Industrial Hemp Association will provide recommendations to the European Member of Parliaments which will then be taken under consideration during the revamping of EU’s Common Agriculture Policy.

North America to Dominate the Global Recreational Boating Market

Recreational boat, otherwise called a pleasure craft boat, is intended for entertainment only on the water surface. Numerous individual utilizes this for pleasure and fun activities amid excursion with family and companions. Recreational boats incorporate numerous exercises, for example, fishing, campaigning, sailing, boat racing along with other water sports amusement. Recreational boats are comprised of coated fabrics, aluminum, and plastic. Different kinds of recreational boats incorporate towboats, runabouts, sailboats, fishing boats, sterndrive powerboats, pontoon boats, personal watercraft, jet boats, cabin cruisers, and propulsion systems.

Modification in boat technologies, expanded boat size, expanding high net worth populace, growing economy, developing tourism industry as well as improving in boat engine are drawing in more individuals for recreational boating. This developing demand further boosts the recreational boating market all over the world. As of now, the recreational boating sector reflects just a little portion of the worldwide leisure industry; conversely, its share is likely to increment in the approaching years. This sector was hit hard amid global recession as a requirement in significant markets, for example, Europe and the US endured a negative effect amid the financial slowdown.

North America represents the biggest share in the worldwide recreational boating market. In North America, the U.S. accounts for the biggest share of the overall market. About 34% of the overall populace of the U.S takes part in recreational boating on yearly premise. During 2010, about 75 Mn individuals in the U.S. taken an interest in recreational boating. The number expanded to touch 88.5 Mn through 2013 end. Such development in the participation trend in North America recreational boating market is anticipated to support the overall market. Europe is the second biggest market after North America. France, UK, Germany, and Italy are a few of the major recreational boating markets in the region. The worldwide market is anticipated to develop at a higher rate in European region when contrasted with North America. The developing requirement of luxury cruisers is projected to help the market development in the European market. Cruise shipping and leisure ports have immense potential for economic growth with less environmental effect. Increasing maritime and coastal tourism makes a huge addition in the development of Europe recreational boating market. The APAC region is likewise one of the foremost markets for recreational boating. Developing economy in India, China, Korea, and Southeast Asia and developing enthusiasm towards boat riding aid in the development of APAC recreational boating market. Rising disposable income in the rising countries in the APAC region enables the purchasers to spend on premium recreational exercises, for example, recreational boating.

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A few of the topmost companies active in worldwide market for recreational boating are Azimut-Benetti,  Brunswick Corporation, Groupe Beneteau, Platinum Equity, Suzuki Motor Corporation , Group Beneteau, Azimut-Benetti, Ferretti, Sunseeker, Bavarian, Rodriguez, Princess, Avon Inflatables, Sealine Attwood, Zodiac Marine & Pool,   Bombardier Recreational Products Incorporated, Baja Marine, Brunswick Corporation, Caterpillar Incorporated, Carlisle Paddles, Crusader Marine Engines, General Motors Company, Fountain Powerboat Industries Incorporated,  Godfrey Marine, Hydra-Sports Boat, Honda Motor Company Limited, Interphase Technologies, KCS International Incorporated, Kawasaki Heavy Industries Limited, Pleasurecraft Engine Group, Tognum AG, Poly Marquis Yach, along with Yamaha Motor Company Limited.

Rising Demand for Animal-based Products Fuelling the Insect Feed for Animals Market

The rising per capita income of the global population coupled with a substantial increase in the global population is driving the demand for more animal-based products. A recent analysis by Persistence Market Research opines that the growing demand for animal-based products is causing animal farmers to find an alternative source of protein to ensure sustainability. Insect feed provides a great alternative to replace soy and fishmeal used as animal feed owing to its high protein content and low-fat percentage.

Recent studies suggest insect feed can partially replace fishmeal used to feed poultry, fish, and pigs. The replacement can serve the nourishment required by the animals while reducing the possibility of over-fishing. Further, a plant-based diet’s composition includes non-starch polysaccharides, high fiber content, anti-nutritional components, and low sulfur amino acids content which are unfavorable for livestock and other animals.

Growing Controversies around Soybean Cultivation to Promote the use of Insect Feed

Soy is a plant-based animal feed that is being used extensively. According to the recent study by PMR, growing controversies around soybean cultivation have sparked demands for finding an alternative to soy feed. Soybean plantations have been known to cause large scale deforestation across the world. With the global temperatures on the rise, governments around the world are concerned about the impact the plantations can have on the earth. Growing awareness about soybean plantations is causing food chains to look out for animal feed alternatives to ensure sustainability in production while doing their bit for the environment. For instance, fast food giants McDonald’s is already researching the use of insects for chicken feed in order to replace soy. The company aims to substantially reduce the use of soy in the chicken feed with an intention to contribute towards the welfare of the environment. Preliminary results of the research suggest insects for animal feed are better than plant-based feed and could potentially replace soy.

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Assortment of Benefits Associated with Insect Feed Make it a Lucrative Alternative Animal Feed Option

Insects are rich in proteins and cultivation of insects requires less space and energy as compared to other forms of feeds. For instance, a recent study suggested that production of approximately one ton of crickets requires a surface area of just over 3000 square-meter and over 2 metric tons of feed and provides protein equivalent to 600 kilograms which is far more compared to one ton of soybean production. Further, insect rearing can help in a comprehensive reduction of organic wastes as several species of insects fit for use as animal feed have been found out to thrive on food waste. Another benefit that makes insect feed a lucrative alternative is that insects can be reared all year round unlike, soy and fishmeal. The use of insects in animal feed can also potentially reduce the demand for importing raw materials and can, therefore, boost the local economy. Due to these factors, insect feed is gaining widespread popularity in the animal feed market.