Overview of the global battery market for point of sale (POS) terminals
Technavio’s market research analysts predict the global battery market for point of sale (POS) terminals to grow steadily at a CAGR of above 9% by 2021. One of the primary drivers for this market is the growing regulatory intervention on secure payments. Various instances of financial fraud have forced countries to set stringent regulations with respect to security standards. Regulatory bodies have imposed a rule for the recertification of electronic payment systems employed by merchants and retailers. In the US, the EMV liability shift policy mandates that the issuers and merchants should adopt EMV technology standards, failing which they will be liable to fraud charges in the case of any fraudulent transaction. In order to protect themselves, the merchants need to obtain verification certifications for their electronic systems employed. These certifications should be obtained from financial institutions, card associations, and payment processors. This regulation has compelled the majority of retailers to upgrade their existing POS systems to new ones that will help them to comply with the terms. As a result, these mandates have induced growth in the global battery market for POS terminals.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The increased preference toward non-cash payment methods is the key contributor for the dominance of the battery market for POS terminals in the region. This trend has compelled the merchants in the region to attach high significance to information management and provide a safe and secure
Overview of the global batteries market for smart wearables
The global batteries market for smart wearables is anticipated to grow rapidly and will post a CAGR of close to 29% during the forecast period. The increasing demand for wearable lifestyle devices will drive the growth prospects for the global batteries market for smart wearables in the coming years. Some of the benefits of smart wearables are daily monitoring of fitness and health activities, accessibility to music, virtual or 3D videos, virtual games, accessibility to social networking websites such as Facebook, LinkedIn, and Twitter, and tracking and controlling of health conditions to reduce the risk of diseases. Also, several vendors are encouraged to invest heavily in research and developmental activities to foster the development of innovative products, which will improve the market revenue during the forecast period. Furthermore, the smart bands allow patients and consumers to connect with doctors and share their activities to receive a timely diagnosis.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the increased research and funding received from investors in the battery market. Some of the countries that contribute the maximum revenues in the region are US, Canada, and Mexico, where the US is the largest contributor because it is a tech savvy and has
Overview of the global inverter market
Technavio’s market research analyst predicts the global inverter market to grow steadily at a CAGR of 6% by 2021. One of the primary drivers for this market is the rise in the consumption of wind energy. Due to the depleting conventional sources of energy and growing concerns about greenhouse gas (GHG) emissions, countries across the world are shifting their focus toward the use of renewable sources to produce power. Among all renewable sources of energy, wind power is the most efficient source of power generation. It is also one of the most abundant sources of alternative energy. Growing awareness about the benefits of wind energy is fueling the demand for wind turbine inverters, this is because they can increase the rotational speed and energy output while ensuring a high rate of return for investors from wind projects. Moreover, the rising cost of fossil fuels is compelling consumers to shift towards renewable wind energy solutions. As a result, wind turbines will witness a rapid growth rate, this will propel the growth for wind turbine inverters during the forecast period.
One of the latest trends gaining traction in this market is the increasing demand for clean power. Climate change policies and improvements in technology have shifted generation of power to low-carbon or no-carbon technologies such as solar, wind, and hydropower. With a growing number of countries implementing renewable targets and policies, there has been an increase in renewable power production, which necessitates the presence of adequate and reliable power transmission, such as that provided by a smart grid. Also, end-users have embraced alternative forms of energy instead of
Overview of the global industrial water purifier market
The global industrial water purifier market is anticipated to grow at a steady rate and will post a CAGR of close to 6% during the forecast period. The rising industrial development and urbanization will drive the growth prospects for the global industrial water purifier market until the end of 2021. As a result, an agrarian-based society transforms into an industrial society. Since various industries such as oil and gas, power generation, refineries, mining, construction, food and beverage, steel manufacturing, electronics, and pharmaceuticals contaminate water resources, the demand for water reuse in these industries has been increased. Also, the rising number of urban population is directly influencing the industrial activities through the addition and expansion of new and existing industries. The increasing number of industries and industrial activities will also drive the demand for water purifiers. Moreover, the governments of various countries are increasingly taking initiatives to reuse wastewater and promote water conservation, which further drives the installation of water treatment and purification systems in the industrial sector.
The growing advancements in the membrane technology will drive the growth prospects for the global industrial water purifier market in the forthcoming years. Some of the membrane technologies that play a vital role in water and energy sustainability are wastewater treatment by
Overview of the global start-stop battery market
The global start-stop battery market is anticipated to grow rapidly and will post a CAGR of close to 21% during the forecast period. The increasing number of stringent emission regulations will drive the growth prospects for the global start-stop battery market for the next four years. According to the industry research report, to prevent the emission of harmful gasses such as nitrogen oxide (NOx), sulfur oxide (SOx), hydrocarbons, carbon monoxide, and particle matter (PM), the auto regulators across the globe have been setting emission targets. For instance, countries such as the US and China have also set targets to reduce their GHG emissions by 15%-20% by 2020. A large number of regions worldwide are also taking steps to cut down on the amount of emissions produced drastically by automobile industries. In addition, with the increasing adoption of electric vehicle (EVs) and hybrid electric vehicle (HEVs), the use of power and fossil fuels in transportation system is increasing. Moreover, the long shelf life of lithium iron phosphate batteries has increased the demand for these batteries in the EV and HEV industry.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the increasing demand for
Overview of the global carbon capture and storage (CCS) market
Market research analysts at Technavio predict that the global CCS market will grow steadily during the next four years and in terms of carbon captured and stored, will post a CAGR of more than 9% by 2021. This market research analysis identifies the over-dependence on fossil fuels as one of the primary growth factors for the CO2 capture and storage market. It has been observed that in the coming years, the demand for energy will increase by about 30% and will mainly arise from the non-OECD countries such as India and China. This will subsequently increase the dependence on fossil fuels for power generation. This in turn, will lead to the increased emission of greenhouse gases such as CO2 in the environment, aiding global warming. The rising concerns to reduce GHG emissions from the power plants and making them environmentally sustainable, will drive the implementation of CCS in the power generation sector, fuelling the growth of the carbon capture and storage market in the coming years.
This market research and analysis estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the predicted period. Analysts predict that North America will account for the major market shares in this region, where the introduction of stringent regulations by various governments in this region towards curbing GHG emissions, will propel market growth.
Competitive landscape and key vendors
The market is currently at its infant stages and has significant potential for growth. The market is competitive and is dominated by major carbon capture companies such as Babcock &
The energy industry is in a state of flux. Declining fossil fuel reserves are driving energy security concerns, which are boosting prospects for alternative energy sources. Globally, thermal power is steadily losing ground as renewable power, like wind, solar, biomass, biogas, and tidal, is gaining traction and more and more renewable sources achieve grid parity.
Additionally, smart grids have emerged as a key growth driver in this segment and are helping transform the way we obtain and use energy. Integration of smart grids with renewable energy sources has also facilitated the growth of the energy industry as a whole.
Distributed generation, microgrids, and next-generation energy storage are some of the new technologies that are gaining prominence across the industry.
Technavio’s energy reports are extensive in coverage and include markets like smart grid, oil and gas, power, energy storage; and water and waste management.