ASEAN Automotive Aftermarket Size, Share, Growth Trends, and Forecast Analysis to 2031

The automotive aftermarket in ASEAN is reeling from the COVID-19 impact, however, recovery is likely to be more immediate compared to European and American counterparts, according to a latest study.

Future Market Insights (FMI), an ESOMAR-certified market research firm, in an updated edition of its report, revised the forecast to 8.7% CAGR. This revised forecast takes into account sluggishness induced by the global pandemic.

Key Takeaways of ASEAN Automotive Aftermarket Market Study

  • The ASEAN automotive aftermarket market is expected to grow at 8.7% CAGR over the following decade
  • Demand for automotive aftermarket services to surge from low commercial vehicles (LCV) segment
  • Tires and batteries leading categories in terms of total sales

“Automotive manufacturers are increasingly relying on silicon anode batteries to power electric vehicles (EV), given their greater energy density and better battery life. As such, these batteries are gaining huge traction among OEMs,” says FMI analyst

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COVID-19 Impact on ASEAN Automotive Aftermarket Market

The growth of ASEAN automotive aftermarket market is linearly associated with the regional automotive industry. While the shockwaves of the COVID-19 pandemic are certainly felt across every sector, the automotive industry in ASEAN is potentially facing a significant grunt of it.

While the regional industry was already under pressure, especially in Indonesia and Thailand, acute supply chain disruptions due to COVID-19 outbreak in China is further worsening the situation.

Recent estimates reveal that the ASEAN automotive industry recorded a steep 42% decline in sales during January-May period in 2020. While Philippines topped the chart with 51.1% drop in sales, Malaysia and Indonesia registered 48.9% and 41.2% sales drop respectively. The ASEAN automotive aftermarket market, in turn, is stumbling from these reverberations.

Self-inflating Tires for Better Efficacy in Existing and Futuristic Cars

Over or under-inflated tires diminish fuel efficiency and range for conventional and electric vehicles (EV). As such, companies such as Continental AG have developed self-inflating tire concept that maintains pressure at preferred levels. The technology – C.A.R.E (Connected Autonomous Reliable Electrified) – is closely aligned with the requirements of e-mobility and autonomous driving.

The tires feature in-built pumps attached in the wheels that ensure the tire pressure remains in optimal range for efficiency. This technology is expected to help reduce CO2 emissions as well as slight improvement in average fuel economy. Majority of vehicle owners are focusing on leveraging self-inflating tires concept in a bid to avoid unnecessary maintenance expenses.

ASEAN Automotive Aftermarket Market – Competitive Intelligence

The ASEAN automotive aftermarket market is fairly competitive with, leading players capturing around 30% of the overall market value.

Most of the automotive aftermarket repair service providers in ASEAN countries fail to facilitate customers with a wide range of maintenance and repair services. Consequently, shop owners are focusing on offering specific services, or expanding their service radar. Moreover, small-scale players are forming partnerships with fleet operators and leasing firms to provide optimum maintenance and replacement services at cost-effective prices.

Find More Valuable Insights on ASEAN Automotive Aftermarket Market:

FMI, in its new market research study, delivers an unbiased analysis of the ASEAN automotive aftermarket market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report provides complete analysis on ASEAN automotive aftermarket market through three different categories – by category, by vehicle type, and region. The global ASEAN automotive aftermarket market study offers insights of pricing by different life cycle analysis, product life cycle, key market trends and technologies that are being implemented in the development of the ASEAN automotive aftermarket and product adoption in various end-use industries.

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ASEAN Automotive Aftermarket Segmentation

To understand and assess opportunities in the ASEAN automotive aftermarket, we have divided the report into three sections based on market segmentation as under:

By Category

  • Parts
    • Tires
    • Batteries
    • Filters
    • StartersandAlternators
    • Lighting
    • Exhaustcomponents
    • Sparkplugs
    • Lubricants
    • Collisionbody
    • Wear and Tear Parts
  • Accessories
    • Interior
    • Exterior
  • Services
    • General automotive repair
    • Automotive transmission and others

By Vehicle Type

  • Passenger cars
  • Commercial Vehicle

By Country

  • Malaysia
  • Indonesia
  • Philippines
  • Vietnam
  • Singapore
  • Thailand
  • Rest of ASEAN

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ASEAN Automotive Aftermarket Market Outlook & Key Findings

  • The ASEAN automotive aftermarket market is expected to click US$ 19.4 Bn in 2020
  • Manufacturers to reap substantial revenues from automotive aftermarket parts through 2030
  • Passenger cars continues to account for greater demand for automotive aftermarket services over the decade ahead
  • Malaysia, Indonesia, and Thailand to collectively capture over 80% of overall market value

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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T: +1-845-579-5705
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Golf Cart Market Brief Forecast and Analysis by Top Key Players to 2031

Increasing urbanization and inclination towards the environment friendly options are key factors driving market of golf cart. As per a Future Market Insights (FMI) analysis, the global golf cart market is estimated to be valued at ~US$ 2.59 Bn in 2021, expanding at a CAGR of ~4.3% during the forecast period from 2021 to 2031. While the COVID-19 outbreak hampered sales to an extent, the market is likely to recover 2021 onwards.

With the rising focus on renewable energy, the demand for solar-powered and electric vehicles is increasing. The trend also is visible in the golf cart market. According to FMI, electric golf carts are expected to account for over 87% of sales in 2021. Driven by changing preferences of consumers, some of the leading manufacturers are focusing on developing technologically advanced intelligent braking system for golf carts. This is indicating towards the potential launch of driverless golf carts.

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The research report analyzes demand trends within the global golf cart market. The global market estimation and growth projection are based on factors such as rapid urbanization, automotive industry development, COVID-19 crisis impact, increasing per capita income, and growth in the international and national tourism industries. As per FMI’s research scope, the global golf cart market has been studied and segmented on the basis of product type, operation, application, ownership and region. The global golf cart market report also details global golf cart cost analysis, and market presence of leading manufacturers.

Key Takeaways of Global Golf Cart Market Study

  • After registering negative growth in 2020, golf cart sales is expected to pick up 2021 onwards
  • The U.S. market will prove excessively lucrative, accounting for dominant 78.3% sales in 2021
  • After deceleration in sales, the U.K. market will exhibit recovery, registering 2.6% Y-o-Y growth in 2021
  • Other than U.K., Germany and France will emerge as key markets within Europe
  • China will continue dominating East Asia market, followed by Japan and South Korea

 “Driven by increasing focus on reducing emissions and the rising demand for energy-efficient mobility solutions, golf cart manufacturers are expected to focusing on the production of solar powered and electric golf carts. With this trend unlikely to slow down in the near future, the market will continue gaining impetus through the forecast period,” says FMI analyst.

Global golf cart Market by Category

Product Type

  • Push-Pull Golf Cart
  • Gasoline Golf Cart
  • Electric Golf Cart
  • Solar Powered Golf Cart

Operation

  • Manual
  • Powered

Application

  • Golf Courses
  • Personal Use
  • Industry Use
  • Others

Ownership

  • Rented
  • Fully Owned

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Global golf cart market is expected to be an opportunistic market in the forecast period due to growing golf sports infrastructure and its applications in various sectors. As this low speed and compact vehicles have numerous applications, starting from their primary application in golf courses to their applications in sports events, airports, resorts, hospitals, warehouses, railway stations, universities, and housing projects, their demand is expected to rise considerably in the coming years.

For instance, Club Car, LLC Club car, a leading company in golf cart market, has introduced its lithium ion-powered golf cart technology in 2019. Such efforts by leading players are expected to bode well for the market.

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Lightweight Automotive Body Panels Market : Value Chain, Stakeholder Analysis and Trends by 2026

Future Market Insights delivers key insights on the global lightweight automotive body panels market in its latest report titled “Lightweight Automotive Body Panels Market: Global Industry Analysis and Opportunity Assessment, 2016–2026.” Global sales of lightweight automotive body panels is anticipated to be valued at US$ 99.6 Bn by 2016 end, witnessing a Y-o-Y growth of 3.9% over 2015. APEJ is projected to account for a volume share of 29.2% in the global market towards the close of 2016 and is expected to retain its dominance throughout the forecast period.

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Automotive body panels such as bumpers, hoods, door panels, roof, and trunk lids are manufactured using lightweight materials such as high-strength steel, aluminium, magnesium, and polymers and composites in order to provide desired strength with reduced weight. Lightweight automotive body panels help improve fuel economy and performance of vehicles by reducing the overall weight of the vehicle. About 25% reduction in automobile weight saves 3.5 to 5.0 tonnes of greenhouse gas emissions over the lifetime of an average car. Manufacturers today are adopting lightweight body panels in vehicles in order to comply with government regulations pertaining to greenhouse gas emissions.

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Key Segment

By Material Type

  • Metals
  • High-strength Steel
  • Magnesium
  • Aluminium
  • Polymers & Composites
  • Carbon Fibre Reinforced Plastics
  • Glass Fibre Reinforced plastics
  • Other Polymer & Composite Materials

By Component Type

  • Bumpers
  • Hood
  • Door Panels
  • Trunk Lids
  • Roof
  • Others

By Vehicle Type

  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Region

  • Passenger Car
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  •  APEJ
  • Japan
  • MEA

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Segmentation highlights

The global lightweight automotive body panels market is segmented on the basis of Material Type (Metals, Polymers & Composites); Component Type (Bumpers, Hood, Door Panels, Trunk Lids, Roof, Others); and Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle).

  • The Metals material type segment is likely to be valued at US$ 92.7 Bn by 2016 end
  • The Door Panels component type segment is anticipated to be a prominent segment accounting for maximum market share of 32.9% by 2016 end
  • The Passenger Car vehicle type segment is expected to expand at a significant CAGR of 5.5% over the forecast period

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Automotive Washer System Market Expectations and Growth Trends Highlighted Until 2026

Future Market Insights (FMI) delivers key insights on the global automotive washer system market in its latest report titled, “Automotive Washer System Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. Global sales of automotive washer systems including headlamp and windshield washer systems is expected to reach US$ 17.5 Bn in 2016, witnessing a y-o-y growth of 4.2% over 2015. The long-term outlook on the global automotive washer systems market remains positive, with the market expected to register a 5.4% value CAGR during the forecast period 2016-2026. Passenger car segment will account for maximum share of the total sales, extending the market share to 76.7% in 2026 as compared to 74.5% in 2016.

The global automotive washer system market is expected to register a value CAGR of 5.4% over the forecast period (2016–2026) and reach a value of US$ 29.6 Bn by end of 2026.

In terms of volume, the global sales of automotive washer systems is expected to reach 1,453.4 Mn units in 2016 and is expected to expand at a CAGR 3.5% over the forecast period 2016–2026.

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Increasing vehicle production and adoption of efficient wiper and washer technologies are primary factors bolstering the sales of washer systems globally. Moreover, high replacement rate of washer system components is expected to result in high sales in the aftermarket segment. The emergence of newer wiper blade and windshield cleaning technologies is resulting in higher cost of end products, which is a major factor restraining adoption of these products among consumers. High market penetration of relatively low-cost wiper and washer system alternatives restricts demand for wiper de-icer, nozzle integrated wipers and heated nozzle washer systems.

Segmentation highlights

The global automotive washer system market is segmented on the basis of Component (Nozzles, Reservoirs, Hose & Connectors, Pumps, Windshield Wipers, Wiper Motor); Sales Channel (OEM, Aftermarket); Technology (Electric, Mechanical); Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles); and Application (Windshield Washer System, Headlamp Washer System).

  • Windshield wiper was the largest segment by component in 2015 and this will remain unchanged in 2016
  • Nozzle and hose & reservoir segments are expected to be the next large segment in terms of volume
  • By value, wiper motor segment is expected to remain dominant over the forecast period. The segment is expected to account for share of 45.9% in 2016 and is expected to maintain dominance over the forecast period
  • By product type, windshield washer segment was the largest segment in 2015, and this segment is anticipated to hold 72.3% of the market revenue by 2026. Advancements in wiper blade technology and nozzle design will support growth of the market over near future
  • Headlamp washer system segment is anticipated to witness a relatively high value CAGR than windshield washer system.  Increasing sales of premium and luxury vehicle globally is anticipated to bolster the growth of headlamp washer system. Furthermore, automakers in the market are focussing on introducing value added features in their mid-range vehicles, so as to earn competitive edge in the market

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Regional projections

The global automotive washer system market is segmented into the regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, MEA, and Japan. Asia Pacific, the largest market for automotive washer systems is expected account for US$ 5.5 Bn revenue in 2016. Increasing adoption of headlamp washer systems in semi-luxury and mid-sized cars is major trend witnessed in the region. North America is expected to be the next big market, the region accounted for 21.1% of the total revenue share in 2015 and is anticipated to hold 20.7% in 2016. The recent relocation of automobile production facilities to developing nations such as Mexico will impact the OEM sales of washer systems in the region. Western Europe is expected to account for US$ 3.3 Bn revenue in 2016. The market for headlamp washer systems in the region is majorly driven by the existing stringent regulations to deploy these systems with high intensity headlamps.

Market Segmentation

By Component

  • Nozzles
  • Reservoirs
  • Hose & Connectors
  • Pumps
  • Windshield
  • Wipers
  • Wiper Motor

By Sales Channel

  • OEM
  • Aftermarket

By Technology

  • Electric
  • Mechanical

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Application

  • Windshield Washer System
  • Headlamp Washer System

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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Vendor insights

Robert Bosch GmbH, Denso Corporation, Valeo S.A., continental AG and Mitsuba Corporation are the top five players in the global automotive washer system market, accounting for about 30% market revenue share in 2015. The leading players in the market are focusing on acquisition, collaboration and partnerships of/with technology providers to increase their product portfolio and market presence. Furthermore, expansion of production facilities, particularly in developing nations, is the key strategy adopted by major players in the market.

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Car Security System Market Latest Advancements and Business Opportunities 2031

The global car security system market is projected to reach a valuation of US$ 11.1 Bn in 2021. Surging demand for high passenger vehicles in the automotive industry is expected to bolster sales of car security system at 11.8% CAGR. As per Future Market Insights (FMI), the market valuation will reach US$ 33.8 Bn in 2031.

Future Market Insights has forecast the global car security system sales to reach a valuation of US$ 33.8 Bn by 2031. As of 2020, car security system market comprised nearly 5% of overall automotive electronics market.

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The automotive industry is expected to grow rapidly in the coming years with sales expected to skyrocket especially in electric vehicle space. Growing demand for advanced automotive electronics for improved car security and safety is expected to push the sales of car security systems. Besides this, the rising demand for luxury vehicles is propelling the car security system market growth.

As per FMI’s regional analysis, China is anticipated to dominate the East Asia car security system market. Growth registered in China can be attributed to the strong presence of key automotive players, along with exponential rise in the production of passenger vehicles.

Key Takeaways:

  • By vehicle type, passenger cars segment is projected to account for more than four-fifth of the total car security system market share in 2031
  • The Europe is anticipated to hold a more than one fourth of the global car security system market in 2021
  • Demand in Italy will continue supporting sales in the Europe car security system market
  • The U.S. is projected to account for nearly three-fourth of sales in North America

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 “Increasing incidence of car theft is encouraging automakers to develop better security features. To offer greater safety against car theft, incorporation of telematics has emerged as a key solution. Besides this, focus on innovations will continue rising as market players aim for competitive advantage,” says the FMI analyst.

Competitive Landscape

Future Market Insights states that Continental AG, Valeo, Hella, Robert Bosch, and Tokai Rika are the leading market players operating in the car security system market. Top car manufacturers are looking to provide new end to end solutions and products while keeping the aftermarket confined to their authorized dealers.

For instance, continental AG is developing ultra-wideband (UWB) radio technology as a part of vehicle access solution in the car connectivity consortium (CCC). The new system is aimed to provide hand free operating system and elevate the anti-theft protection.

Market players are also looking to ride the bandwagon of growing adoption of telematics. For instance, ORBCOMM recently developed the next-gen ORBCOMM Platform which allows customers to track, monitor and control all their vehicles in one place – on the road, rail and at sea.  For this groundbreaking innovation, ORBCOMM won 2021 Internet of Things (IoT) breakthrough award for M2M Vehicle Telematics Company of the Year.

Car Security System Market by Category

By Car Type:

  • Economic Cars
  • Mid-Range Cars
  • Premium Cars

 By Product Type:

  • Immobilizer system
  • Remote Central Locking System
  • Alarm System
  • Other Systems

 By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East and Africa (MEA)

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Prominent players operating in the car security system market are:-

  • Valeo S.A.,
  • Continental A.G.,
  • Delphi Automotive PLC,
  • Hella KGaA Hueck & Co.,
  • Tokai Rika Co., Ltd.,
  • Mitsubishi Electric Corporation,
  • Denso Corporation,
  • Robert Bosch GmbH,
  • Lear Corporation,
  • Omron Corporation.
  • Nexen Tire America Inc.

Key Points Covered in Car Security System Market Study

  • Market estimates and forecast 2015-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact On Car Security System Market And How To Navigate
  • Recommendation on Key Winning Strategies

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Codeless Testing Market Key Players, End User, Demand and Consumption by 2031

As per a report by Future Market Insights (FMI), the global codeless testing market is estimated to record a valuation of over US$1.5 Bn in 2021, exhibiting a CAGR of over 15% during the forecast period of 2021-2031. The need for agile software development and DevOps methodologies is likely to drive the demand for codeless testing tools and services.

Technological advancements in the QA testing sector with the latest trends introducing IT field services will support developments in the market. Nowadays, the top priorities of enterprises around the world are including cost optimization. Consequently, software firms believe in the incorporation of front-line IT methodologies for their business. Moreover, the advent of innovative technologies has brought the newest updates in development, software testing, delivery, and design.

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Digital transformation is yet another important focus point for the enterprises and sectors that are leading into business analytics and cloud-based solutions. This trend of technological development is expected to support the growth of the codeless testing market significantly during the forecast period.

Variations in software testing methods will also affect QA and software testing. Enterprises have increased their budgets for software testing, mainly in industries such as transportation, energy, and utilities. The geographic expansion in emerging markets and large-scale implementation of model-based automation testing applications are the uncharted opportunities in the codeless testing market.

Moreover, owing to rapid technological advancements in the IT and telecom industry, there is an increase in demand for codeless testing tools. Advanced technologies have become essential in improving economic competitiveness.

Key Takeaways: Codeless Testing Market

  • Codeless testing tools solutions are expected to exhibit growth at a high rate of over 20%, CAGR between 2021 and 2031 owing to the adoption of automated testing solutions in SMEs.
  • Small and medium enterprises (SMEs) are likely to exhibit increasing demand for codeless testing at a strong CAGR of above 21% over the assessment period.
  • The market in India is expected to progress at a noteworthy CAGR of more than 25% through 2031, driven by adoption of cloud-based solutions.
  • The U.S. will account for over 84% of the North America market, supported by the presence of key market players in the country.
  • In the U.K., codeless testing sales are expected to increase at a CAGR of close to 16% over the next ten years, driven by applications in the research sector.

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COVID-19 Impact Analysis on Codeless Testing Market

The COVID-19 pandemic has accelerated growth of the codeless testing market, aided by applications in online banking, e-retail, and mobile applications for healthcare, entertainment, and more to achieve improved customer experience with faster delivery times.

The pandemic has accelerated the trend toward work from home, thereby creating major growth avenues for codeless testing solutions in several remote software applications while maintaining IT infrastructure.

In addition, the nation-wide lockdown imposed by the governments in all regions has influenced several enterprises to adopt digital and online platforms in their business models to maintain continuity in services.  Hence, the codeless testing market is estimated to grow around 10% to 13% Y-o-Y from 2019 to 2021.

More Valuable Insights on Codeless Testing Market

FMI’s report on the codeless testing market is segmented into five major sections – solution (codeless testing tools and service – testing & QA services, consulting services, integration & implementation, and support & maintenance), application (API testing, mobile app, desktop app, and web app), enterprise size (SMEs and large enterprises), industry (IT & telecom, BFSI, retail, healthcare, government, education, manufacturing, travel & hospitality, media & entertainment, others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the codeless testing market.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Access Control Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2031

According to newly released data on the access control market analysis by Future Market Insights (FMI), the market will grow at a CAGR of 12.6% from 2021-2031, with revenue totalling US$ 15,371.0 Mn by the end of 2021. Growth has been attributed to rapid technological advancements in the IT & telecom industry. Advanced technologies have become essential in improving economic competitiveness, thereby propelling the market growth.

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The adoption of access control systems in various industry verticals is expected to propel the market. Information and data security is becoming a top priority for industrial organizations to secure their information and other digital assets from threats.

The latter goal largely depends on guaranteeing safety for visitors, plant managers, workers, and more. The growing necessity of integrated access control solutions to create secure environments across industrial areas that layer several technologies in conjunction with contingency plans for human and asset protection will drive demand.

Therefore, access control is the ideal way to seamlessly fuse such solutions without compromising on productivity, safety, and security with greater efficiency. Several industrial organizations such as IT & telecom, healthcare, BFSI, and manufacturing, are adopting access management solutions to ensure the protection of resources.

The rapidly growing usage of mobile devices has shifted the focus of corporate sectors towards enterprise mobility practices. The major types of smartphone door access control systems include IP systems, control panel systems, and mobile access credentials.

The use of mobile-based credentials is the organic evolution from conventional physical security in the access control industry. Mobile credentials offer superior security and convenience. Smartphone access encompassed with cloud-based systems make such solutions an economical choice for long-term applications, although local systems only require one-time investments.

Key Takeaways from the Access Control Market Study

  • Iris recognition access control systems will witness the highest growth rate at over 16%, owing to investments into new biometric security solutions through 2031.
  • The healthcare sector is anticipated to capture the largest share of 19.8% in 2021, backed-up by security concerns in healthcare facilities associated with the use of EMR.
  • The U.S. will remain dominant in North America with a 84.5% share in 2021, supported by faster access to tech developments in end use verticals.
  • The market in Japan is expected to progress at a noteworthy CAGR of close to 17% through 2031, supported by a tech-driven economy.
  • In the U.K., sales are expected to increase at a CAGR of more than 15% over the next ten years, driven by favorable government investments and policies.

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COVID-19 Impact Analysis on Access Control Market

The COVID-19 pandemic has impacted every sector with social distancing norms pushing organizations towards digitalization to ensure data and asset safety. Businesses that invested in digital transformation initiatives in the past have proved to be more resilient during the crisis.

The outbreak of the covid-19 virus has presented a challenge to communities and businesses, where the use of physical security systems has become more than a means to prevent criminal activity.

Part of the new post-covid normal is managing a location’s occupancy levels to ensure social distancing or allowing hands-free entrance. The demand for access control systems is projected to further continue to rising with a rapid shift towards enhanced verification systems and digital identity management. Consequently, the access control market is estimated to grow around 7.6% to 10.8% Y-o-Y from 2019 to 2021.

More Valuable Insights on Access Control Market

FMI’s report on the access control market is segmented into four major sections – component (hardware, software, and services), system type (Fingerprint Access Control Systems, Face Recognition Access Control Systems, Iris Recognition Access Control Systems, Card-based Access Control Systems, and others), industry (IT & telecom, BFSI, military & defense, healthcare, government, education, manufacturing, transportation & logistics, others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, India, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the access control market.

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Computerized Maintenance Management System (CMMS) Market 2022 | Present Scenario and Growth Prospects 2032

Computerized Maintenance Management System (CMMS) Market is expected to reach ~US$ 3,816.6 Mn by 2032, growing at a CAGR of 8.8% from 2022  to 2032. Data maintenance is important to any organization. Previously, maintenance data was stored on paper which was a time consuming and monotonous process. CMMS solutions came into existence with the advancement in technologies. A computerized maintenance management system is software that is designed to simplify maintenance management. CMMS is sometimes referred to as Enterprise Asset Management (EAM) software. The software centralizes maintenance information and facilitates the processes of maintenance operations.

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These solutions are used to maintain the assets during their life cycle life. CMMS software tracks all the processes which include maintenance, customer service requests, operational performance, and warehouse inventory in one place. These solutions are used for tracking work orders, scheduling tasks, dealing with external work requests, recording asset history, managing inventory, and auditing and certification.

An increase in the number of manufacturing facilities, rising demand for enhanced maintenance of operations and a rise in the adoption of cloud/web-based technologies are some of the key factors propelling the growth of the CMMS market globally. The manufacturing segment will remain the key end-user in the market, accounting for a share of 30.5% followed by the energy and utility segment.

Key Takeaways: Computerized Maintenance Management System (CMMS) Market

  • The U.S. has remained early adopter of latest technologies. It also exhibits increasing uptake of CMMS software and services, accounting for over 80% of North America market
  • Expansion of energy and utilities sector will drive sales in the U.K., enabling y-o-y growth at 10.1% in 2021
  • China will continue leading the East Asia market on the back of consistently rising manufacturing activities
  • Increasing investment in modern technologies will pave way for expansion in India

COVID-19 Impact Analysis on CMMS Market

The COVID-19 pandemic has clearly divided individual’s needs into essentials and non-essentials. Utilities – electricity, gas, and water – fall firmly in the first category. As these industries are the key part of a nation’s economy, as other industries depend on it to serve the needs of every common man. Power, utilities & renewables (PU&R) companies are continuously focusing on keeping their assets on-line and providing safe, reliable supplies of electricity and natural gas during the pandemic.

Energy and utility providers across the globe are becoming increasingly concerned about the spread of the virus among their employees. This puts a bigger demand and more stress on organizations to take a more aggressive approach to improve worker safety through preventive best practices and proper preparation. In these times, automation of your workflow can really help streamline your operations.

CMMS software tools can help manage sudden changes in operations – like making changes in maintenance schedules or placing an emphasis on facility cleaning – like those that were required after the COVID-19 outbreak. The software manages the auto-routing of work orders to right staff, escalating critical work and having the proper notifications to alert team members, and getting approvals for appropriate work.

These capabilities enable energy and utility organizations to improve operations, deliver critical communication and make sure the work continues – even in a pandemic. Thus, the CMMS market has shown significant growth during the pandemic. Increasing lockdown periods due to COVID-19 pandemic have estimated to motivate the energy and utility organizations to procure CMMS software during the forecast period.

Emergence of Mobile CMMS Software Solutions

The biggest breakthrough in the CMMS software industry is the emergence of mobile CMMS software solution. Energy and utility providers that have implemented the mobile CMMS solutions have achieved 40% improvement in productivity. Working with mobile CMMS software solution increases stability, performance, and functionality.

Through mobile CMMS, technicians can create, retrieve, update, and close work orders from anywhere. Any smartphone, mobile devices or internet-enabled devices are used to retrieve the CMMS database in real time. Instant access to work orders provides technicians the freedom to prioritize work orders based on location, saving organization time and money. Moreover, it is used to add specific details to a work order from the job site, increasing the accuracy and timeliness of the information being added to the maintenance database.

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Who is Winning?

Some of the leading companies operating in the market are IBM Corporation, Rockwell Automation, eMaint (Fluke Corporation), MicroMain Corp., Infor, Maintenance Connection (Accruent), Hippo CMMS, Limble CMMS, Mobility Work, DIMO Software, MPulse Software, FasTrak SoftWorks, CMMS Data Group, Letosys, QuickFMS, Cryotos, SIERRA ODC Private Limited, PiqoTech Software Solutions Pvt. Ltd., and IFS.

Mergers and acquisition remain highly sought-after as market players seek to expand their footprint and portfolio. For instance, in June 2018, Accruent, has acquired Maintenance Connection, a CMMS provider. This development accelerates Accruent’s efforts to help customers gain insight and make data-driven decisions for multi-site facility management.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Head Mounted Display Market Scope of Current and Future Industry 2031

The Head Mounted Display (HMD) market is expected to grow to USD 104.53 billion by 2031. Head-mounted displays are often used in military training applications for the purpose of creating a synthetic training environment (STE). STE is an augmented reality (AR) system which creates military training in an immersive way. It helps to improve the drills of soldiers like snow-capped mountains and deserts, navigation, deep forests and teamwork.

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HMDs integrated with AR/VR technology are used in training & simulations for the purpose of warfare simulations, battlefield visualizations, tactical augmented reality, digital twins, spatial orientation, situational awareness, weapons targeting, digital terrain, and many more. Thanks to evolving technology, head mounted displays are making inroads into the healthcare and education sectors. The pace at which the change is happening has accelerated amid COVID-19 outbreak when several schools and institutions around the world were compelled to retreat indoors for a couple of months to contain the spread of the virus.

Key Takeaways: Head-Mounted Display Market

  • .Driven by the rising demand for evolving technology, the head mounted displays market will register over 16% y-o-y growth in 2021
  • The U.S. will emerge as the leading market in North America, accounting for over 79% of sales
  • Demand in the U.K. will rise considerably, enabling y-o-y growth at above 13% in 2021
  • Inclination for advanced technologies and expansion of gaming sector will support growth in Germany and France
  • East Asia will emerge as a highly lucrative market with China at the forefront, followed by Japan and South Korea

COVID-19 Impact Analysis on head mounted display Market

The effects of the COVID-19 outbreak will extend well beyond health and the threat to human lives. There are already signs that the virus will significantly impact head-mounted displays and AR/VR industry. The epidemic has postponed or cancelled various sporting events for the safety of people and prevention of the COVID-19.

On the flip side,it could positively affectthe demand for VR/AR HMDs in the healthcare sector. Amid the pandemic, various global vendors have continued to focus on developing and innovating in AR/VR technologiesby launching advanced products like smart glasses, such as by Google and Microsoft.

In COVID 19 pandemic most of the countries went for lockdown. The people got stuck at home for certain period of time and all the sporting events were postponed or cancelled for the same reason. People found AR/VR gaming more entertaining and attractive, as they remained confined at their homes. Thus, the continued innovation in head-mounted displays in AR/VR technologies has resulted in significant growth in the market.

Increasing Demand inHealthcare SectorDriving Growth

HMDs are being used in the healthcare industry for the purpose of medical training, patient treatment, medical marketing, disease awareness.

Using VR headsets, doctors can see the fine details of any part of body in 360° CGI reconstruction & create training scenarios accordingly. VR headsets enable doctors to access the inside view of the body, which is difficult to reach.

According to eInfochips, AR and VR industry will further reachUS$35 billion by 2025, due to its adoption in gaming, education, fashion, healthcare, and entertainment industries.

In healthcare industry the HMDs applications are used for providing surgery training, dentistry simulation, treatment of depression and Post-Traumatic Stress Disorder (PSTD), pain management, addictions, telemedicine, rehabilitation in stroke and in dementia and many more.

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Who is Winning?

Companies operating in the market have been focusing on innovations. The investment in research and development will continue increasing as companies aim for competitive advantage. Some of the leading players operating in the market are Microsoft Corporation, Google, Samsung, BAE Systems, Elbit Systems, Huawei Technologies, HTC Corporation, Sony Corporation, LG Electronics, Thales Visionix, Inc., Xiaomi, and Avegant Corp.

More Valuable Insights on Head Mounted Display Market

FMI’s report on the head mounted display market is segmented into four major sections such as product type (head mounted and eyewear),HMD type (Discrete HMD, Integrated HMD, and Slide-on HMD), application (gaming, media, & entertainment, aerospace, and defense, healthcare and medical devices, engineering & industry applications, education, and others), and region(North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and lucrative evaluate opportunities in the head mounted display market.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Microbial Gene Editing Services Market Latest Trends, CAGR Status, Growth Opportunities and Forecast 2028

Microbial gene editing is technology which have the ability to change the DNA of organism. Microbial gene editing is changing the ways for developing new medical treatment. From treating diseases such as sickle cell and HIV to custom pets and designer babies, microbial gene editing has great potential to affect in all the areas of live in the near future.

Development of new immunotherapies for disease such as cancer as the rising prevalence of cancer which will significantly grow in the future will provide opportunity for the microbial gene editing. For instance, the first-ever human trials of CRISPR focused on treating a various cancers in China and the first human trials for CRISPR tech in the US set to focus on disease such as sickle cell.

Progress in availability of computational tools and wet-lab genome editing (GE) technologies have greatly expanded the capability for the complex requirements of system-level investigation of microbes.

Microbial gene editing tools such as targetrons, zinc finger nucleases (ZFNs), meganucleases (MNs), (CRISPR)-associated nuclease Cas9 and transcription activator-like effector nucleases (TALENs), and, creates huge opportunity for the gene editing in the forecast period. All these tools can achieve accurate and precise genetic modifications by inducing targeted DNA double strand breaks.

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Microbial Gene Editing Services: Market Dynamics

Recent research and development in genome editing technologies hold promise in the forecast period for the development of innovative therapies. Use of genome tools has the potential to affect various therapeutic areas and hundreds of disease, common and rare disease which will significantly boost the market of microbial gene editing services in the forecast period.

Increased attention given for the development of new antimicrobials which fight against antibiotic-resistant bacteria will drive the market for microbial gene editing services in near future.

For instance, Companies such as Nemesis Bioscience and Eligo Bioscience are developing antimicrobial technology and treatments with the help of CRISPR technology. Increasing government funding and development of fast and east methods with high efficiency spur the microbial gene editing services market in forecast period. However, certain limitations to the available tool and high cost associated with the editing systems might restraint the growth of microbial gene editing services market.

Microbial Gene Editing Services: Overview

Rising acceptance and increasing medical research and development for gene editing will rise the growth of market in the near future. Growth of established and new gene editing tools is expected to spur the overall market of microbial gene editing services market.

Rising clinical trial for diseases as diverse as muscular dystrophy, cancer, and sickle cell anaemia will further drive the microbial gene editing services market. There are approximately 2,700 clinical trials using gene therapies under way or approved around the world.

Furthermore increasing number of skilled labors will create opportunity for development of new tools in future which will bring significant growth in the revenue of microbial gene editing services market in the forecast period.

Microbial Gene Editing Services: Region-wise Outlook

The North America market for Microbial Gene Editing Services holds the largest revenue share, due to increasing research and development and rising government funding towards the microbial gene editing research. For instance, in 2018, The US National Institutes of Health (NIH) has announced to grant US$190 million for genome editing research.

Launch of genome editing program by NIH such as Somatic Cell Genome Editing programs which aims to develop tools for safe and effective genome editing in humans spur the market of North America in the forecast period.

Europe accounts for the second large revenue share in the global microbial gene editing services market, owing to increasing prevalence of disease such as HIV and Cancer and development of new innovative technology and new drug along with the increasing number skilled labors.

Asia Pacific is expected to witness rapid growth in the microbial gene editing services market, due to increasing awareness in the gene editing services in developing countries such as India and improving healthcare infrastructure. China is expected to register significant growth in the microbial gene editing services market, due to favorable regulations and advancement in the biotechnology.

For instance, the world’s first genetically edited babies was created in China in 2018. Latin America and Middle East & Africa are projected to exhibit slow growth in microbial gene editing services market, owing to lack of R&D labs, awareness and high cost of gene editing tools and systems

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Microbial Gene Editing Services: Key Players

Examples of some of the key service provider present in the global microbial gene editing services market are Creative Biogene, GeneCopoeia, Inc., ProteoGenix, Thermo Fisher Scientific Inc., Vigene Biosciences Inc., Biotools Co., Ltd, Cellecta, In, NemaMetrix Inc., GenScript Biotech Corp, OriGene Technologies, Inc, Synbio Technologies LLC, abm Inc, Rockland Immunochemicals Inc.among others.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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