Magnetic Sensors Market To Reach $3.65 Billion By 2022: Grand View Research, Inc.

The global magnetic sensors market size is expected to reach USD 3.65 billion by 2022 according to a new report by Grand View Research, Inc.

Technological advancements and an increased awareness regarding vehicle safety are anticipated to drive the global magnetic sensors market growth over the forecast period. Escalating demand for GPS & navigation enabled smartphones and wearable devices is expected to further incite industry growth.

Magnetic sensing devices are used for detecting and measuring magnetic fields. These sensors assist in wear-free measurement of angular speed and angle of rotation with contactless operation. They are widely used in consumer electronic devices such as smartphones and wearable devices for position sensing, switching, current sensing, and angular sensing. In addition, they are used in white goods and heavy consumer durables such as air conditioners and refrigerators.

However, intense competition and a gradual decline in the average selling price have left the industry unattractive for vendors, thereby challenging market growth.

North America magnetic sensors market by technology, 2012-2022, (USD Million)

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Further key findings from the report suggest:

  • Magnetic sensors used across various industry verticals are based on different sensing technologies such as Hall Effect, Anisotropic Magnetoresistance (AMR), Giant Magnetoresistance (GMR), and others such as Tunneling Magnetoresistance (TMR) and Superconducting Quantum Interface Device (SQUID). Hall Effect based sensing module segment dominates the industry accounting for over 55% of the market share in 2014. They are extensively used in various automotive safety systems including Anti-lock Braking Systems (ABS) and advanced driver assistance systems.
  • Magnetic sensors find numerous applications across various verticals including automotive, consumer electronics, industrial, and others such as aerospace and defense, R&D, and non-destructive testing activities. Automotive applications segment dominated the industry accounting for over 50% of the market revenue share in 2014. These sensing devices form an essential part of major safety and driver assistance systems in modern day vehicles thereby driving their demand. Moreover, such sensors and switches have become a critical part of the battery systems in hybrid and Electronic Vehicles (EV) owing to their efficient and battery saving operation.
  • Asia Pacific region dominates the global market in terms of demand and is projected to grow at a CAGR of nearly 12% over the forecast period. Presence of major end-use industries in the region has led to an increasing demand for such sensing modules in the region. Countries such as China, Japan, and India house most of the technological and automotive giants leading to an escalating demand over the forecast period.
  • Key industry participants include Baumer, Honeywell International Inc., iC-Haus, Infineon Technologies AG, Mesmic Corporation, NXP Semiconductors, and Robert Bosch GmbH. Major vendors are based in countries from the European Union and Asia Pacific region to cater to an ever-increasing need for such sensing devices from the growing automotive and consumer electronic industry. Manufacturers resort to mergers, alliances, and vertical integration to streamline the process of procurement and drive profitability.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

 

Machine Translation Market Is Anticipated To Grow Hastily Due To Growing Demand For Cloud-Based Translation Tools Till 2022: Grand View Research, Inc.

The global Machine Translation Market is expected to reach USD 983.3 million by 2022, according to a new study by Grand View Research, Inc. Technological advancements have led to the development of sophisticated translation technology with minimal errors and grammatical coherence, which has considerably widened the scope for machine translation. The ability to rapidly, seamlessly and cost-effectively translate documents and content in regional languages has spurred the machine translation market over the past few years.

The provision of machine translation Software-as-a-Service (MTSaaS) over secure cloud offerings hosted in data centers is expected to offer substantial growth opportunity for the market. Increasing prominence of cloud computing has resulted in growing demand for cloud-based translation tools, which is further expected to boost the machine translation market. Constant R&D and technological advancements have enabled the technology to seamlessly integrate into a range of products from enterprise-level systems to consumer devices. Upgrading of communication networks and the rising proliferation of smartphones has led to the introduction of machine translation apps that provide instant translation of multilingual text.

Global Machine Translation market by application, 2012 – 2022

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Further key findings from the report suggest:

  • Electronics and automotive industries are expected to gain significant market share by 2022. Application of machine translation in healthcare is expected to gain market share over the next six years. The need for accurate and timely translation of a large amount of content is expected to drive demand in various application industries.
  • Training of SMT-based translation engines consists of feeding in millions of segments of glossaries, bilingual texts, etc. for the engine to learn by examples. The demand for SMT has significantly increased over the past few years, due to its effectiveness over RBMT in terms of time and cost. It is also expected to remain the largest technology market through 2022.
  • Government initiatives and the presence of a large number of service providers has helped boost market growth in the U.S. Microsoft and Google, two of the largest technology providers based in the U.S., have made statistical machine translation technology popular with their free online engines.
  • Machine translation providers often sell products through their own websites or indirectly through a network of specialist sales agents. Most providers prefer having a direct sales force to market and sell their offerings. MT solutions are available as commercial software solutions (e.g., SYSTRAN Enterprise Server and SDL BeGlobal) or as free, web-based applications (e.g., Microsoft Bing Translator and Google Translate).

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

 

Luxury Furniture Market Is Predicted To Grow Swiftly Due To Growing Demand For Home Furnishings & Rapid Urbanization Till 2022: Grand View Research, Inc.

Global luxury furniture market is expected to reach USD 28,600.7 million by 2022 growing at an estimated CAGR of 3.7% from 2015 to 2022, according to a new study by Grand View Research, Inc. This expected growth in demand can be ascribed to rapid urbanization and growing demand for home furnishings.

Additionally, disposable income of individuals in North America and Asia-Pacific region has also witnessed high growth. Thus, increasing disposable income of individuals is acting as a major driver for the industry progress.

Luxurious products are becoming an essential part of life; as a result, population is ready to spend on luxurious products. This would contribute to drive the sector growth. In addition, increasing disposable income of individuals has led to think regarding the social status, driving the increased spending on products including furniture.

Browse full research report on Luxury Furniture Market

Further key findings from the report suggest:

  • Wooden luxury furniture was valued for over USD 5,200 million owing to its higher preference for usage in high class office and home interiors, and wooden furnishings. Presence of several global and local luxury furniture manufacturers present in the sector is also attributive towards larger share of wooden products.
  • Glass is anticipated to witness significant growth in the coming years because of the expected advancements in this segment with respect to manufacturing and incorporation of attractive and stylish designs.
  • Domestic use dominated the sector in terms of revenue generated from end-use segments. Factors that are responsible for such large share of this segment include increased adoption owing to the rise in disposable income and influence of western culture. This segment covers the furniture used in kitchen, living and bedroom, bathroom, outdoor and lighting.
  • Living room registered largest share in the industrial revenue in 2014 because aesthetic value and customization are the notable trends observed in the living and bedroom segment of the luxury furniture industry.
  • Lighting is expected to witness significant progress with a CAGR of over 8% due to available technical development in this sector in order to increase the aesthetic presence of the furnishing in domestic use.
  • Europe was the largest revenue generating region in the luxury furniture industry followed by North America. Asia Pacific region holds a great potential for growth in domestic segment of luxury furniture. High demands for furnishing amenities in hospitality industry coupled with the increasing disposable income in this region are expected to contribute in growth in the regional market.
  • Key participants of the luxury furniture industry include Henredon Furniture Industries Inc., Muebles Pico, Scavolini S.p.a., Laura Ashley Holding Plc, Valderamobili s.r.l, Duresta Upholstery Ltd, Iola Furniture Limited, Nella Vetrina, Giovanni Visentin s.r.l., and Turri S.r.l.
  • Operating entities of this sector are involved in usage of e-commerce platforms to reduce the operating expenses. Use of alternative business models rather than the conventional business models is adopted by the market players in order to maintain their market share.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

 

Lubricants market To Witness Growth Based On Increasing Demand For Engine Oils, Transmission Fluids & Hydraulic Fluid Till 2022: Grand View Research, Inc.

The global lubricants market size is expected to reach USD 68.54 billion by 2022, according to a new study by Grand View Research, Inc. Growth of automotive industry in emerging markets of Asia Pacific and Latin America is expected to drive automotive lubricants demand. The market is characterized by increasing demand for engine oils, transmission fluids and hydraulic fluids in both commercial and consumer automotives. Increasing sales of passenger cars and motorcycles is expected to further strengthen the trend over the forecast period. Increasing industrial output in China, India, Brazil and Russia is expected to drive the demand for industrial lubricants.

Recycling of used lubricants is another major issue that has attracted a lot of stern regulations from agencies. The global market is regulated by policies from environmental agencies such as U.S. EPA, REACH and ECHA. Lubricant products or chemicals that are imported or manufactured in Europe need to be preregistered with REACH and have to be compliant with ECHA regulations. Similar guidelines have been established by EPA to ensure biodegradability, toxicity and labeling of lubricant products in the U.S.

Global lubricants market volume by product, 2012 – 2022 (Million Tons)

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Further key findings from the report suggest:

  • Global lubricants market was 36.36 million tons in 2014 and is expected to reach 43.87 million tons by 2022, growing at a CAGR of 2.4% from 2015 to 2022.
  • Industrial lubricants emerged as the largest product segment and accounted for over 39% of the total market volume in 2014. Increasing consumption of general industrial lubricants and process oils in industrial machinery such as centrifuges, rotary compressors, air compressors and machine bearings is expected to drive industrial lubricants demand over the forecast period.
  • Asia Pacific was the largest lubricants market and accounted for over 40% of the total market volume in 2014. High industrial production in China and India is expected to drive industrial lubricants demand which in turn is expected to complement regional market growth. Increasing automotive sales in the region is expected to further complement the regional market growth.
  • Global lubricants market is fragmented with top four companies, Shell, ExxonMobil, BP and Chevron accounting for over 42% of the total market share. Companies are actively establishing strategic alliances with end-users in order to secure their lubricants sales. Companies such as Total, Shell, Amsoil and Castrol have entered into exclusive partnerships with Tata Motors, BMW, Ford and Vestas Wind Systems to supply their lubricant brands.
  • Companies such as Fuchs, Shell and Chevron are involved in acquisition of smaller lubricants manufacturers in order to increase their market share. New product launches and capacity expansions are generic strategies employed by companies to increase their market presence.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

 

Long Term Care Market Will Be Worth $1,255.9 Billion By 2024: Grand View Research, Inc.

The global Long Term Care (LTC) market is expected to reach USD 1,255.9 billion by 2024, according to a new report by Grand View Research, Inc. The market is expected to boom owing to the increasing awareness of people about the different home healthcare facilities, the increasing medical coverage for home healthcare, and the increasing aging population.

In October 2015, there were around 12 million people receiving home healthcare and the number is expected to increase dramatically. Moreover, according to the U.S. Census Bureau, the population aged 65 and older is expected to reach 84 million by 2050 as against 43.1 million in 2012. Moreover, there has been a shift to in-home care from long term care. The nursing homes have shrunk by 350 over the past six years, while the in-home nursing programs have doubled.

U.S. Long Term Care market, by service, 2013 – 2024 (USD Billion)

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Further key findings from the report suggest:

  • In 2015, the home healthcare dominated the market owing to the increasing awareness regarding home healthcare facilities, the cost savings offered by them as compared to hospital stays or nursing homes, and proactive health monitoring. Home healthcare is booming in the developing countries owing to the increasing need for geriatric care, double income households, and social changes. India has many home healthcare startups such as Health Care at Home, Zoctr, Vatsalya, Care24, Zozz, Life Circle Health Services, Healers at Home, and the Nightingales.
  • The hospice care is the fastest growing market owing to the increasing incidence rates of Alzheimer’s and dementia and an increase in the post-hospital care. Moreover, the coverage offered by both the Medicaid and private insurers has relieved the residents from the out-of-pocket payments that have to be borne by them. According to the Hospice Association of America, Medicaid pays USD 601 per day for the inpatient hospice care and USD 789 for 24-hour home care. Moreover, in August 2013, the Palliative Care and Hospice Education and Training Act provided a grant of USD 50 million for the training of doctors and allocating awards for educators in the field.
  • North America dominated the market in 2015. The market for long term care services is majorly driven by the increasing aging population, awareness about the advantages of home healthcare services, and the government support. Around 13% of the people in the U.S. are 65 years or above. By 2050, it is expected that one in five Americans would be at least 65 years of age.
  • Asia Pacific is the fastest growing market owing to the increasing rates of chronic diseases, the increasing disposable incomes, and decreasing working population. For instance, in China, the one-child policy has eventually decreased the working population as compared to the older population. In May 2016, MyCareLine raised USD 526,000 for its alliance with Hoffman World. The Spanish Company provides Hoffman methodology of rehabilitation. The method is commercial in Latin America and Europe. In India, Portea is one of the market leaders in the home healthcare industry. In September 2015, Portea raised USD 37.5 million for investing in better home healthcare facilities.
  • Industry players are continuously investing on expanding and revamping their existing facilities. For instance, in February 2016, Sunrise Senior Living, Inc. started a new facility joining its existing 41 Sunrise communities. The new facility will offer memory care programming, assisted living services, and support to residents in the early stage of memory loss.
  • Major market players are Brookdale Senior Living, Inc., Sunrise Senior Living, Inc., Emeritus Corporation, Atria Senior Living Group, Extendicare, Inc., Gentiva Health Services, Inc., Senior Care Centers of America, Kindred Healthcare, Inc., Genesis Healthcare Corp., and Home Instead Senior Care, Inc.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

 

Liquid Crystal Polymers Market Is Projected To Grow Due To Growing Demand For Lightweight, High Performance Materials From Automotive Industry Till 2020: Grand View Research, Inc.

Global Liquid Crystal Polymers (LCP) Market is expected to reach USD 1.23 billion by 2020, according to a new study by Grand View Research, Inc. Shift in trend towards miniaturization of electrical components such as surface mount device and connectors is expected to drive global LCP market. Growing demand for lightweight, high performance materials from automotive industry in order to improve fuel efficiency is also expected to have a positive influence on the market growth. Lower welding strength and warpage associated with LCP is expected to remain a key challenge for market participants.

Electrical & electronics emerged as the leading application segment and accounted for 81.5% of total market volume in 2013. Growing engineering resins demand for manufacturing ultra-thin electrical components is expected to remain a key driving factor for this segment. LCP is favored over other engineering resins such as polyphenylene sulfide (PPS), nylon 46 and polyphthalamide (PPA) which has further propelled market growth. Electrical & electronics is also expected to witness the highest growth rate of 8.9% over the forecast period. LCP demand from automotive industry is expected to grow at an estimated CAGR of 7.3% from 2014 to 2020. Shift in trend towards adoption of lightweight, high performance materials from automotive industry particularly in the U.S. and Europe is expected to drive this segment.

Global LCP market volume by application, 2012-2020 (Kilo Tons)

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Further key findings from the report suggest:

  • Global LCP demand was 46.1 kilo tons in 2013 and is expected to reach 81.7 kilo tons by 2020, growing at a CAGR of 8.6% from 2014 to 2020.
  • China was the leading regional market and accounted for 46.1% of total market volume in 2013. China is expected to continue its dominance over the forecast period owing to rapid expansion of electronics & electrical industry in the nation. Other Asian countries such as India, Japan, South Korea and Taiwan are also expected to witness steady growth over the forecast period.
  • Industrial machinery applications include ceramic material substitutes and mass transfer packaging in chemical industries. Increasing industrial machinery demand particularly in China and other Asian countries is expected to complement regional market growth.
  • North American LCP market is expected to reach USD 241.4 million by 2020, growing at an estimated CAGR of 7.3% from 2014 to 2020.
  • Global LCP market is highly consolidated with top four companies accounting for over three-fourth of total market. Some major companies operating in the global LCP market include Celanese Corporation, Polyplastics Co., Ltd, Solvay S.A and Sumitomo Chemical. Other companies include Toray International, Inc, Samsung Fine Chemicals and Ueno Fine Chemicals Industry Ltd.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

 

For more information: http://www.grandviewresearch.com

 

Mortuary Equipment Market Growth To Be Driven By Growing Demand For Automation In Mortuary Procedures Till 2025:Grand View Research,inc.

The global mortuary equipment market is expected to reach USD 1.23 billion by 2025, according to a new report by Grand View Research, Inc. Rising demand for automation in mortuary-related procedures, including autopsy, body embalming, shifting, and storage has resulted in technological advancements in these equipment. Growing usage of advanced devices is expected to drive the market during the forecast period.

Rising opportunities in private healthcare sector provide huge scope for increase in the number of hospitals, thus, increasing the number of morgues. In addition, the entry of private morgues, which also offer funeral services, is expected to play an important role in increasing the demand for these equipment during the forecast years. Introduction of technically advanced devices that reduce procedural timings and increase convenience of the professionals is anticipated to drive the market.

In addition, cultural factors, such as funeral traditions, have varying impacts on the market growth. In regions where Christianity is dominant, the demand for private morgue services is high. On the other hand, as per Hindu and Buddhist traditions the dead are cremated; hence, in regions where other religions are prevalent, the usage of morgue, is limited to hospitals.

Browse full research report on Mortuary Equipment Market: http://www.grandviewresearch.com/industry-analysis/mortuary-equipment-market

Further Key Findings from the Study Suggest:

  • The study suggests that refrigeration unit segment captured the largest share in 2016. High demand for the customized storage units and usage of different size refrigeration units for optimizing space are driving growth
  • Huge focus on developing innovative technologies in autopsy devices, including platform and other accessories, used in the procedure
  • Shifting preference of funeral procedures from burial to cremation in order to save costs is expected to hamper the growth rate of embalming workstation segment
  • North America dominated this industry in 2015, with the U.S. capturing the largest share
  • Higher demand for private morgues and faster adoption of advanced technologies are the factors driving growth in this region
  • Asia pacific is expected to exhibit the fastest growth during the forecast period. Growing number of hospitals and emergence of local players are the factors expected to fuel the growth.
  • Few of the major companies operating in the market include Leec Ltd; Roftek Ltd; KUGEL medical GmbH & Co. KG; SM Scientific Instruments Pvt. Ltd.; Thermo Fisher Scientific, Inc.; HYGECO; Mortech Manufacturing Company, Inc.; C.F. di Ciro Fiocchetti & C. s.n.c.; and Mortuary Lift Company.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the mortuary equipment market on the basis of product and region:

Mortuary Equipment Product Outlook (Revenue, USD Million 2014 – 2025)

  • Trolleys
  • Refrigeration Units
  • Autopsy Platforms and equipment
  • Embalming Workstation
  • Dissection Table
  • Other Accessories

Mortuary Equipment Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • India
  • Latin America
    • Mexico
    • Brazil
  • MEA
    • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com