Third Party Logistics (3PL) Market Forecast Worth $925.31 Billion By 2020: Grand View Research, Inc.

The global Third Party Logistics Market is expected to reach USD 925.31 billion by 2020, according to a new study by Grand View Research, Inc. Increased convergence on core competencies by outsourcing secondary business activities such as logistics is expected to drive the 3PL market over the forecast period.
Infeasibility in managing geographically dispersed supply chain operations as a result of increased globalization has led to several companies outsourcing their logistics function. Emerging trends such as Big Data and availability of industry-tailored 3PL services are expected to drive the market over the forecast period. Lack of internal control for addressing logistical challenges has led to increased outsourcing by wholesalers and retailers, thereby providing a fillip to the 3PL industry.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/third-party-logistics-market

Further key findings from the study suggest:

• DCC is expected to be a fast growing segment of the trucking and distribution industry, with several prominent retailers such as Wal-Mart, Target, and Kroger catering to the service in order to increase truck capacity and reduce costs. DTM, which involves value-added transportation management services and freight brokerage, is expected to grow consistently throughout the forecast period. Refrigerated grocery and pharmaceutical applications are expected to emerge as the major growth areas for value-added warehousing services.
• Asia Pacific accounted for over 30% of the market share in 2013, which can be primarily attributed to a surge in warehousing and distribution facilities in China, India, Indonesia, Singapore, and Thailand. The North American 3PL market is expected to witness high growth throughout the forecast period owing to gradually reducing labor and transportation costs in the U.S. and Mexico coupled with technological advancements in logistics software in the U.S. The Eurozone crisis has considerably dampened Europe’s transportation and logistics industry which has a direct bearing on the regional 3PL industry. Automotive and life science industries are expected to lead the rejuvenation of the European 3PL market.
• The 3PL market is moderately fragmented due to a blend of new entrants and established players. Due to several reasons ranging from overpriced companies & negative acquisition experiences to economic uncertainties & lack of attractive targets, the merger and acquisition (M&A) activity in the industry has considerably dampened. Continuous evolution and development of latest IT & automation systems for enhancing material tracking, value addition, flexibility, and security is expected to emerge as a key differentiating parameter of judgment while selecting a logistics partner.
• Logistics providers have laid emphasis on deploying cloud-based solutions to harness real-time data accessibility for reducing their IT and overhead costs. Leading players such as FedEx and Kuehne + Nagel have continuously worked towards incorporation of new features in their transportation management systems to enhance their supply chain operations. Other prominent 3PL vendors include C.H. Robinson Worldwide, DHL, J.B. Hunt, and UPS Supply Chain Solutions.

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For the purpose of this study, Grand View Research has segmented the global 3PL market on the basis of service and region:
3PL Service Outlook (Revenue, USD Billion, 2012 – 2020)
    • Dedicated Contract Carriage (DCC)
    • Domestic Transportation Management (DTM)
    • International Transportation Management (ITM)
    • Warehousing & Distribution
    • Logistics Software
3PL Regional Outlook (Revenue, USD Billion, 2012 – 2020)
    • North America
    • Europe
    • Asia Pacific
    • RoW

Automotive Air Filters Market Forecast Worth $6.10 Billion By 2020: Grand View Research, Inc.

Global automotive air filters market is expected to reach USD 6.10 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand from the automotive industry, particularly in BRIC nations, on account of increasing disposable income and growing industrialization rate is expected to remain a key driving factor for the market. Rising consumer awareness regarding health disorders caused due to contaminated air in the car cabin is also expected to have a positive influence on market growth. Environmental hazards related to combustion engine vehicles have led to the growth of electric vehicles, which contributes negligible emissions but also requires less maintenance of the engine. Growth of electric vehicle industry is expected to challenge automotive air filter demand over the forecast period.
Cabin filters dominated the global automotive air filters product segment and accounted for 51.3% of total market revenue in 2013. Cabin filters are also expected to be the fastest growing product segment, at an estimated CAGR of 8.5% from 2014 to 2020. Consumer shift towards reducing bad odor and minimizing health disorders caused due to air pollutants inside the vehicles is expected to fuel demand for cabin air filters over the forecast period.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-air-filters-market

Global automotive air filters market revenue, by product 2012-2020, (USD Million)

 

Further key findings from the study suggest:

• Passenger cars were the largest application for automotive air filters market and accounted for 51.5% of total market revenue in 2013. Growth of passenger cars ownerships particularly in emerging markets of India, China and Brazil is expected to drive air filters demand in passenger cars. Automotive air filter demand in two wheelers is expected to grow at an estimated CAGR of 8.5% from 2014 to 2020.
• Aftermarket dominated automotive air filter demand, at over 70% of total market revenue in 2013. It is also expected to be the fastest growing end-use segment at an estimated CAGR of 8.2% from 2014 to 2020. Consumer shift towards replacing air filters in order to minimize maintenance cost is expected to drive the automotive air filters demand in aftermarket.
• Asia Pacific emerged as the leading regional market and accounted for 49.3% of total market revenue in 2013. Asia Pacific is also expected to be the fastest growing regional market for automotive air filters at an estimated CAGR of 8.5% from 2014 to 2020. Growth of automotive industry in emerging markets of China, India and Indonesia is expected to drive the regional market. North American market is expected to witness steady growth on account of recovery of automotive industry in the U.S. and favorable regulatory scenario in the region.
• Top market participants accounted for less than 50% of the total market revenue in 2013. The market has witnessed mergers and acquisitions over the last few years. This trend is expected to continue and the market is expected to move towards consolidation over the next several years. Some of the leading participants operating in the global market include Mann+Hummel, Affnia, Cummins and Mahle Industries.

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For the purpose of this study, Grand View Research has segmented the automotive air filters market on the basis of product, application, end-use and region:
Global Automotive Air Filters Product Outlook (Revenue, USD Million, 2012 - 2020)
            • Intake
            • Cabin
Global Automotive Air Filters Application Outlook (Revenue, USD Million, 2012 – 2020)
            • Passenger Cars
            • Light & Heavy Commercial Vehicles
            • Two Wheelers
Global Automotive Air Filters End-Use Outlook (Revenue, USD Million, 2012 – 2020)
            • OEM
            • Aftermarket
Global Automotive Air Filters Regional Outlook (Revenue, USD Million, 2012 - 2020)
            • North America
            • Europe
            • Asia Pacific
            • RoW

Smart Elevator Market Is Expected To Grow At A CAGR Of 14.8% From 2015 To 2022: Grand View Research, Inc.

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.
Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/smart-elevator-market

Asia Pacific smart elevator market by solution, 2012 - 2022 (USD Million)

 

Further key findings from the report suggest:

·         Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.

·         Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.

·         Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.

·         Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.

·         Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.

·         In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.

·         Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.

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ATM Market Will Grow Rapidly Owing To Its Increased Demand In Technology Industries Till 2022

The global ATM market is expected to reach USD 24.92 billion by 2022, according to a new study by Grand View Research, Inc. Rising demand for automated wireless communication devices along with growing security standards are estimated to drive the industry.
Enhanced security standards for safer online, and physical financial transactions has led to a significant rise in use of these services. Further, continuation of strict security standards and safer modes of financial transactions are expected to have a substantial impact on the industry growth.
Automation of the basic financial transactions and technological advancements increasing at alarming rate would increase mobile transcations among the customers. Linkage of ATMs with wiireless devices would facilitate the customers to complete the transcations securely.
Rising competition amongst the banks to increase the penetration, would lead to its huge installation base, thus offering lucrative growth opportunities for the industry. In order to reduce the frauds, manufacturers and financial institutions are opting for anti-skimming, biometric devices, and voice recognition systems.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/atm-market

Europe ATM market by solution, 2012 - 2022 (USD Million)

 

Further key findings from the study suggest:

• ATM deployment solutions industry accounted for over 70% of the overall revenue in 2014. They comprise installed machines at varied locations such as worksite, onsite, offsite and mobile segment. The deployment revenue comprises of installed machines and services as well as its maintenance. Rise in installation base and increasing maintenance activities are estimated to drive segment growth.
• ATM managed services market is estimated to exhibit considerable growth, growing at a CAGR of over 11.0% from 2015 to 2022. It contributes significantly towards strengthening the infrastructure for multichannel delivery for better customer retention, acquisition and cross selling opportunities.
• North America ATM market dominated in terms of revenue in 2014, and is expected to significantly lose share by 2022. Adoption of smart machines across countries such as U.S. is estimated to impel growth across this region. Increasing trend of trading in digital currency is driving demand for Bitcoin ATMs across the region.
• Asia Pacific ATM industry is expected to grow at a substantial growth rate of over 12% from 2015 to 2022. Rising demand for self-service machines and ever increasing customer base across regions such as China and India are estimated to drive the regional demand over the next seven years. Additionally, increasing trend of outsourcing its related activities by financial institutions is projected to positively impact growth across this region.
• ATM market share is occupied by companies such as NCR Corporation, Diebold Inc, Wincor Nixdorf, Euronet Worldwide and Nautilus Hyosung. Product innovations and strategic partnerships with the manufacturers are some of the notable strategies adopted by the vendors. For instance, In October 2014, Diebold launched a new 5500 series of with advanced security features such as biometric finger-vein readers and security camera provisioning.

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Grand View Research has segmented the ATM market on the basis of solution and region:

ATM Solution Outlook (Revenue, USD Million, 2012 – 2022)

• Managed Services
• Deployment
• Onsite
• Offsite
• Worksite
• Mobile

ATM Regional Outlook (Revenue, USD Million, 2012 – 2022)

• North America
• Europe
• Asia Pacific
• RoW