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Next Generation Storage Devices Market is expected to reach $141 billion by 2022. The cloud-based storage segment is expected to dominate the global market. North America accounted for 35% market share in 2014, while the European market is expected to witness significant growth rate during the forecast period.
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Next generation storage technology is a high-tech technology that provides improved data storage and management for various industries, such as BFSI, retail, IT & telecommunication, government, healthcare, manufacturing, and others. The market growth is driven by technological advancements, increased smartphone penetration, a rise in online transactions, lower cost of cloud computing platforms, and high internet penetration worldwide.
The cloud-based storage segment dominated the global next-generation storage devices industry in 2014, with around 38% share. However, the solid-state storage technology is gaining momentum, owing to its various advantages such as high performance and low noise creation over conventional data storage devices. Cloud-based storage is expected to grow at the highest CAGR of 18.7% during the forecast period, followed by solid-state storage.
The BFSI and IT & telecommunication segments collectively accounted for around 35% share of the total market revenue in 2014, while the government segment is anticipated to grow at the highest CAGR of 18.1%. The BFSI next-generation storage devices market is expected to grow at the second highest CAGR of 17.8%, owing to the surge in digitization, increase in online banking activities, and rise in adoption of private and hybrid cloud in the sector.
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Key Findings of the Next Generation Storage Devices Market:
• The cloud-based storage segment dominated the overall next-generation storage devices market, in terms of revenue, and is projected to grow at a CAGR of 18.7% during the forecast period.
• The cloud storage system segment dominated the global next-generation storage devices market in 2014, and is anticipated to grow at the highest CAGR.
• The software-defined storage segment is expected to grow at the second highest growth rate of 17.7%.
• IT & telecommunication generated the highest revenue in 2014, while the government sector is estimated to grow at the highest growth rate of 18.1%.
• In 2014, North America was the dominant region, while Europe is projected to grow at the highest CAGR, with rest of Europe market being the major contributor.
Key players operating in the next generation storage devices market include Dell, Inc., HPE Company, Hitachi Ltd., IBM Corporation, NetApp, Inc., Nutanix, Inc., Oracle StorageTek, Pure Storage, Inc., Tintri, Inc., and Toshiba Corp.
Crop micronutrients are essential elements for plant growth and play an important role in balanced crop nutrition. The lack of micronutrients can lead to various diseases in plants such as chlorosis, yellowing of leaves, gummosis, and others that can reduce the quality and quantity of plants. Crop micronutrients maintain the nutrient level in crops & soil to enhance the productivity and growth of crops. These nutrients find extensive applications in agribusiness, thereby driving the crop micronutrients industry.
The global crop micronutrients market is projected to reach $11,532.36 million by 2025, registering a CAGR of 8.3% from 2018 to 2025. In 2017, the soil application segment accounted for more than 50% share of the global crop micronutrients market in terms of value.
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Micro-nutrients act as enzyme co-factors and building blocks that enable plants to build complete proteins and compounds. They also aid in the development of large, strong roots, and boost immunity of the plant. Growth in awareness about benefits of micronutrients among farmers & growers, increase in demand for healthy & nutritious food, surge in demand for biofuels fuel the global crop micronutrients market.
In terms of value, Asia-Pacific and LAMEA collectively contributed xx share in the global crop micronutrients market in 2017. The key players operating in the crop micronutrients market are Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.
The artificial intelligence market accounted for $4,065.0 million in 2016, and is expected to reach $169,411.8 million by 2025, growing at a CAGR of 55.6% from 2018 to 2025.
AI is associated with human intelligence with similar characteristics such as language understanding, reasoning, learning, problem-solving, and other. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of such a technology. The market for artificial intelligence is primarily driven by the improved productivity, diversified application areas, increased customer satisfaction, and big data integration. However, lack of skilled workforce and threat to human dignity & other threats are some of the restraints of the market. Nonetheless, the impact of these factors is expected to be minimal due to the introduction of new technologies in the market.
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The machine learning segment secured the highest share of about 52.0% in the artificial intelligence market in 2016 and is expected to grow at a CAGR of 56.4% during the forecast period. In terms of industry vertical, IT & telecom sector is expected to contribute the highest market share in the coming years, as various new startups are investing in artificial intelligence solutions. Moreover, the rapid urbanization, technological advancement, and increase in demand for cloud applications has fueled the demand for AI technologies in developing economies.
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The major players, such as Alphabet (Google Inc.), Apple Inc., Baidu, IBM, IPsoft, Microsoft Corporation, MicroStrategy, Inc, NVIDIA, Qlik Technologies Inc., Verint Systems Inc (Next IT Corp), have focused on developing new products as well as these companies expanded their business by acquiring small businesses to deal with competitors.
The global curcumin market is projected to reach $104.19 million by 2025, registering a CAGR of 8.9% from 2018 to 2025.
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Curcumin is a bioactive compound found in turmeric, known for its powerful medicinal and therapeutic properties. It has been used as a spice and medicinal herb for thousands of years in Asian countries such as India, Thailand, Indonesia, and others. Owing to its anti-inflammatory, antioxidant, and cartilage building properties curcumin finds extensive applications in the cosmetic and pharmaceutical industry. Medicines containing curcumin extracts are used for the treatment of numerous diseases and health problems such as wound healing, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. Curcumin extracts have been formulated in many skin care applications in the form of skin creams, ointments, powder, and others. It helps to heal and prevent dry skin, treat skin conditions such as eczema and acne, and delay the aging process. Thus, the increase in the use of curcumin in the cosmetic and pharmaceutical industry has propelled the curcumin market growth in recent years.
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The focus of food manufacturers is mostly on incorporation of curcumin in food products, which is expected to provide ample opportunities for curcumin industry. Other factors such as rise in living standards, increase in preference for healthy & natural food products, rapid urbanization, and surge in demand for ayurvedic and herbal skincare products have an indirect positive influence on the growth of the global curcumin market.
In terms of value, Asia-Pacific and LAMEA collectively contributed one-fifth share in the global curcumin market in 2017. The key players operating in the curcumin market are Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., NOW Health Group, Inc., Phyo life Sciences, and Herboveda India Pvt. Ltd.
The sorghum and sorghum seeds market was valued at $8,279 million in 2016, and is projected to reach $10,591 million by 2023, growing at a CAGR of 3.6% from 2017 to 2023. The grain sorghum segment accounted for nearly half of the global market in 2016.
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Sorghum is a versatile crop, which belongs to the grass family Poaceae. Sorghum can be grown as a forage, grain, or sweet crop and is among the most efficient crops in conversion of solar energy into chemical energy, use of water, and is known as a drought tolerant, high energy environmentally friendly crop. Several species of sorghum is grown for grains while other species are used as fodder plants, which is either naturally grown in pasture lands or is cultivated in large areas. Depending upon the variety of sorghum species, it can be used for grazing pasture, hay production, and green chop. Forage sorghum is the most popular species, which is widely used as silage for livestock feeding. Biomass sorghum species are widely used in the production of bioenergy worldwide. Sweet sorghum is primarily cultivated for producing sorghum syrup to be used as a healthy alternative sweetener for alcoholic beverages and for chemical production and biofuel.
Increase in demand for sorghum as an alternative sweetener for various alcoholic beverages is one of the key factors that drives the growth of the market. Also being a versatile crop, sorghum is used in various rapidly growing markets such as fencing, floral arrangements, pet food, building material, and others, which is another factor that drives the growth of the global sorghum and sorghum seeds market. Moreover, increase in demand for biofuel and rise in prices of crude oil and fossil fuels is further anticipated to bolster the demand for biomass sorghum during the forecast period. However, increase in number of alternatives as well as changes in consumer preference might hamper the market growth.
The grain sorghum segment accounted for nearly half of the global market, in terms of volume, in 2016. The demand for sorghum has increased due to increase in demand for cost-effective livestock feed as well as increase in demand for biofuel and ethanol. Thus, increase in requirement of forage sorghum in livestock feed application and rise in demand for sweet sorghum for artificial sweeteners is expected to drive the market growth.
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Key Findings of the Sorghum And Sorghum Seeds Market:
- The biofuel and ethanol segment is anticipated to grow at the highest CAGR during the analysis period.
- The human feed application segment accounted for the highest share in the market and is anticipated to maintain its dominance throughout the forecast period growing at a CAGR of 3.8%.
- LAMEA is projected to maintain its lead position from 2017 to 2023, growing at a CAGR of 4.3%, in terms of volume.
- The grain sorghum segment occupied for nearly half of the total market in 2016.
- China occupied for around one-fourths of the Asia-Pacific market in 2016.
- In terms of value, South Africa is expected to grow at a significant CAGR of 4.0% during the forecast period.
In 2016, Asia-Pacific and LAMEA collectively accounted for nearly 70% of the global market, in terms of volume, and are expected to continue this trend during the forecast period, owing to increase in demand for gluten free food, especially in China, India, Brazil, and other developing countries. Moreover, development of the livestock feed industry, increase in per capita income, and growth in overall consumer expenditure drive the growth of the LAMEA market.
The major companies profiled in the report include National Sweet Sorghum Producers & Processors Assn, National Sorghum Producers, Sorghum Forum Of South Africa, Shri Lal Mahal Group, Richardson Seeds, Mabele Fuels, Advanta Seeds US, DuPont, Archer Daniels Midland, and Ingredion.
According to a new report by Allied Market Research, titled, Electronic Skin Market by Application: Global Opportunities Analysis and Industry Forecast, 2020-2025, the Electronic skin market was valued at $464.04 million in 2020, and is projected to reach at $1,719.38 million by 2025, growing at a CAGR of 38.7% from 2021 to 2025.
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Electronic skin consists of stretchable network of sensors and flexible electronics, which are used in biometric prosthetics, intelligent robots, and others. It senses heat, pressure, temperature, and other influencing factors.
Wearable, ultrathin, and twistable & stretchable nature of electronic skin makes it suitable, in terms of usage & operations, for the users. In addition, its compact size and lesser number of wires fuel its adoption, thereby supplementing the market growth. In 2020, wearable technology segment dominated the market, in terms of revenue, due to increased disposable income across various developing and developed nations.
North America is anticipated to be the highest revenue contributor to the electronic skin market in 2020, accounting for around 37.90% share, owing to rise in investment on robotics technology.
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The report features a competitive scenario of the electronic skin market and provides a comprehensive analysis of key growth strategies adopted by the major players. The key players profiled in the study are MC10, Xensio, Rotex Inc. Intelesens ltd, Immageryworks Pty Ltd, Dialog Devices Limited, SmartLifeinc Limited, Xenoma Inc., Plastic electronic GmbH, and VivaLnK, Inc.
Key Findings of the Electronic Skin Market:
- Wearable technology segment is anticipated to generate the highest revenue in 2020, accounting for $186 million.
- North America is expected to dominate the market, in terms of market share, during the forecast period.
Light Fidelity (Li-Fi)/Visible Light Communication Market report, published by Allied Market Research, forecasts that the global market is expected to garner $115 billion by 2022, registering a CAGR of 116.8% during the forecast period 2016 – 2022. In 2015, North America contributed major share in the market and will continue to lead throughout the forecast period.
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Light Fidelity (Li-Fi) is a very high speed, two-way wireless communication method which uses visible light from LEDs as the medium for transmitting the data by turning them on and off at very high frequency which human eyes cannot sense. This technology is an apt replacement for currently prevailing Wi-Fi technology as Li-Fi is considerably faster, has almost 10,000 times broader bandwidth because it uses visible light, and it is safe to operate in electromagnetic sensitive areas.
Li-Fi incorporates three major components, which are LED, photodetector, and microcontroller. Among the three components, in the year 2015, LED dominated the market by contributing over 40% share of the overall component segment revenue. Also, this segment is anticipated to grow with the highest CAGR 118.1% during the forecast period owing to its low cost, increased adoption in different applications such as households, offices, vehicles, airplanes and retail stores among others. Furthermore, LEDs are preferred over all other lighting systems as they can easily be turned off and on with the use of a microcontroller.
Under the industry vertical segment, retail industry contributed over 30% of the overall Li-Fi market, in 2015. Li-Fi enables the storekeepers to monitor the positioning of customers by tracing their location to improve shopping experience and provide notifications on their cellphones. However, healthcare sector would be the fastest growing industry and is expected to register highest CAGR 125.3% during the forecast period. This is because Li-Fi does not cause any electromagnetic interference and can safely be used with other medical apparatus such as CT scanner, MRI machine, X-ray machine, and ultrasound machine among others.
North America dominated the market in 2015 by accounting for around 40% of the total market revenue and it is expected to maintain its dominance throughout the forecast period. This is accredited to the presence of various research and development facilities in the region and investment for implementation of this technology by the major companies in the region.
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Asia-Pacific is anticipated to be the fastest growing region among others with CAGR of 121.7% during the forecast period. This is attributed due to the large electronic market in China and Japan as well as presence of several developing regions where governments promote the use of LED lights. In Asia-Pacific, China holds about 50% of the market at present and is expected to maintain its leading position throughout the forecast period.
Light Fidelity (Li-Fi)/Visible Light Communication MarketKey findings:
- In 2015, LED component led the overall Li-Fi market revenue, and is projected to grow at a CAGR of 118.1% during the forecast period.
- Retail industry vertical segment is projected to grow at a CAGR of 112.8% during the analysis period.
- Asia-Pacific is anticipated to be the fastest growing region growing at a CAGR of 121.7% during the forecast period.
The key players in the Li-Fi market are focused on intensive research and development such as undergoing researches in Edinburgh University and the research facility of pureLiFi in United Kingdom, to improve their product quality and partnerships to reach untapped regions. Key players in the market have adopted product launch as their key strategy to grow in the market. For instance, launch of enhanced lighting named Atlanta for precise indoor positioning by acquity brands and the Li-Fi enabled router, LiFi-x by pureLiFi The key players profiled in the report include General Electric, Oledcomm S.A.S, Renesas Electronics Corporation, pureLiFi, LVX SYSTEM, Acuity Brands Lighting, Inc., Qualcomm technologies Inc., IBSENtelecom Ltd., Koninklijke Philips N.V., and Panasonic Corporation.