Markets Update: Cambashi releases Industrial IoT/Connected Applications Market Data Observatory
Cambashi releases Industrial IoT/Connected Applications Market Data Observatory
Cambashi, an analyst and market consulting firm, recently released the results of its Industrial IoT Observatory. This global sizing study focuses on the emergence of connected applications, relying on industry input from providers to define the scope and segmentation of the market.
Key findings include:
- The global 2018 figures indicate a leap of 42% in total revenues compared to 2017. Researchers say this points to the success of robust, packaged software over pilot projects and initiatives.
- There is a clear distinction between IT/enterprise and OT/industrial providers, and Cambashi is observing the formation of new relationships and ecosystems. They expect further significant changes and consolidation in the next few years.
- The asset management and performance monitoring use cases have the most published case studies. The top 10 use cases all strongly feature in the connected production and connected asset market areas.
The Cambashi IIoT Observatory also includes analysis of published case studies by industry application, for which the initial findings are:
- Asset management and performance monitoring are the most popular use cases. They have the highest number of case studies in the process manufacturing and machinery industry sectors.
- Connected production and connected assets have the most case studies for almost all the top 10 use cases. The exceptions are field service management, where connected products is the biggest area; and environmental monitoring, where connected city comes in second.
- Most projects have been in the machinery and process manufacturing industries (based on case study analysis). Automotive comes in third, with a significant number of connected transportation case studies. The high-tech industry has the most connected supply chain and connected worker case studies.
Global oilfield chemical market expected to grow 5.1% by 2025
Growth opportunities exist for manufacturers developing customized product formulations and offering strong technical support, finds Frost & Sullivan.
Frost & Sullivan’s latest analysis of the global oilfield chemical market reveals that the development of advanced, eco-friendly oilfield chemicals has paved the way for increased application use, premium prices and market growth. The discovery of new oil and gas fields across different regions along with shale gas and enhanced oil recovery (EOR) expansion activities will further augment growth prospects. Frost & Sullivan forecasts the global oilfield chemical market to account for $33.94 billion by 2025, with a steady compound annual growth rate (CAGR) of 5.1% between 2018 and 2025.
Industrial hose market to grow by nearly $5B by 2024
The industrial hose market is likely to grow from $12.8 billion in 2019 to $17 billion by 2024, according to ResearchAndMarkets.com.
The growth of this market is mainly driven by factors such as increasing demand for robust industrial hoses in critical applications, growing infrastructure-related developments and rising demand for PVC material. Increasing demand for automobiles worldwide and modernization of agriculture processes are expected to create significant growth opportunities for players in the industrial hose market during the forecast period. However, the dearth of technical know-how of industrial hoses restrains the growth of the market.
High demand for natural rubber in various industrial segments provides growth opportunities for the industrial hose market. The automobile market is also anticipated to increase the demand for natural rubber production in Thailand and Indonesia. Natural rubber has unique physical and chemical properties, including susceptibility to vulcanization. Hence, increasing demand for natural rubber hoses in the agriculture, mining, construction and food processing industries is expected to provide ample opportunities for the industrial hose market.
Half of manufacturers experienced data breaches in past year, report finds
Half of manufacturing companies have fallen victim to at least one data breach during the past year, according to the 2019 Manufacturing and Distribution Report from professional services firm Sikich. Of the 50% of respondents who said their companies experienced data breaches, 11% said they had experienced major breaches. Still, executives believe their companies can thwart attacks. A majority (54%) said they are extremely or very confident in the ability of their companies to prevent or minimize the impact of data breaches.
The report found that many manufacturers — especially those with revenues under $500 million — neglect key cybersecurity preparedness efforts. Overall, less than 40% of these smaller companies perform cyber audits (38%), penetration testing (33%), security assessments of vendors (32%) and phishing exercises on employees (31%).
Sikich’s 2019 Manufacturing and Distribution Report surveyed 310 companies. The participants spanned the industry, including wholesale and distribution; industrial equipment; metal fabrication; apparel, footwear and textiles; chemicals and petroleum; aerospace and defense; and food and beverage.
AODD pumps market growth driven by increasing investments in wastewater treatment and growing applications in end-use Iindustries
According to a recent report by Persistence Market Research, the global AODD pumps market is estimated to grow at a CAGR of 4.8% between 2018 and 2028. The AODD pumps market is projected to witness robust demand during the forecast period, owing to the steady growth in construction, energy, wastewater treatment, mining, agriculture and various other manufacturing industries.
Rapid industrialization is one of the other factors directly impacting the growth of the AODD pumps market. Population growth, coupled with urbanization, has directly led to an upsurge in the growth of industrialization across emerging economies. Hence, industries such as manufacturing, automobile, energy, pharmaceuticals, consumer care products, food and beverage and others have witnessed significant growth to cater to the growing need.
In terms of application, the water transfer segment of the AODD pumps market is estimated to dominate the market in terms of market share among all application segments, followed by the chemical transfer segment.
The stainless steel segment is estimated to be a prominent segment in the AODD Pumps market, due to the large-scale application of stainless steel in water transfer and various manufacturing industries. The polypropylene segment is projected to lead the market in terms of CAGR growth.
In terms of end-use industry, energy and wastewater treatment industries are estimated to dominate the AODD pumps market, owing to the rising investments and growth in these industries. The wastewater treatment segment is also projected to register high CAGR growth, along with the construction industry.
The North America region is estimated to hold the lion’s share in the AODD pumps market on a regional level, while China and India are projected to register the highest demand for AODD pumps on a country level. This can be attributed to the growing industrialization and urbanization in these regions. India is projected to register the highest growth rate in the AODD pumps market in terms of value, owing to the increasing wastewater treatment activities and growth in various end-use industries in the region. Latin America is expected to create lucrative growth opportunities in the AODD pumps market, along with China and India. Europe and North America are estimated to register modest growth in the AODD Pumps market, due to the maturity of various end-use industries in these regions.
