General Retail Goods and Services
Overview of the furniture manufacturing market in Bosnia and Herzegovina
The furniture manufacturing market in Bosnia and Herzegovina is anticipated to witness rapid growth and will post a moderate CAGR of more than 6% over the forecast period. The abundance of forest reserves is one of the significant factors driving the growth of the furniture manufacturing market in Bosnia and Herzegovina. The country has a strong heritage of wood processing and forestry dating back to the second half of the 19th century. The forest reserves are highly diversified, resulting in the availability of trees belonging to various species. Furthermore, more than half of the country’s land is covered by forests, and it is richest in terms of forest resources compared to member countries in the EU. The abundance of forest reserves ensures the cost-effective and easy availability of wood, which is the key raw material for the manufacturers in this industry.
With the growth of online retailing of furniture, this market is envisaged to have a positive outlook in the coming years. Increasing penetration of the Internet, along with increased access to smartphones and online banking systems has led to an increase in the online sales of furniture. Manufacturers of furniture in Bosnia and Herzegovina are focusing on branding, marketing communications, and online retailing to enhance visibility, both domestically and at the regional level.
Segmentation by product type and analysis of the furniture manufacturer market in Bosnia and Herzegovina
- Kitchen furniture
- Office and shop furniture
- Others (such as seats and bedroom and living room furniture)
During 2015, the kitchen furniture segment was one of the largest segments of the furniture manufacturing market in Bosnia and Herzegovina and accounted for more than 16% of the market
Overview of the global travel irons market
Technavio’s market research analyst predicts the global travel irons market to grow at a CAGR of more than 4% during the forecast period. Travel irons are gaining popularity because of their basic functionality that offers an instant solution for quick ironing requirement anywhere, and quality outcomes. These small electric and cordless irons are portable, rechargeable battery-operated, and easy-to-carry. Consumers prefer carrying lightweight, portable traveling gadgets like travel irons to maintain a well-groomed look throughout their travel. Travel irons are more preferred by business travelers since they are useful to quickly iron clothes that are needed to be worn for business presentations. With the increase in global outbound travel, it is predicted that the utility of travel irons would increase significantly during the forecast period.
Vintage-style travel irons with retro gadget looks are gaining huge popularity on the e-commerce websites. Most of these vintage-style travel irons are foldable and possess variable control settings for greater efficiency. The materials used to manufacture these retro-styled travel irons are metals, stainless steel, and Bakelite. The aesthetic appeal of antique irons such as stylish classic design and unique body colors has led to their high sales. Most of these gadgets are procured for gifting purposes.
Competitive landscape and key vendors
The global travel irons market is moderately competitive with the presence of several leading conventional iron brands who offer a wide variety of models. Providing products at low prices is one of the key strategies followed by the players of small
Overview of the global aquaculture market
Technavio’s market research analyst predicts the global aquaculture market to grow at a CAGR of around 4% by 2020. Aquaculture is the fastest-growing food production system in the world due to the lack of naturally available varieties of fisheries harvested in natural environments. The increasing awareness of the health benefits and nutritional value associated with seafood has accelerated its consumption. Aquatic products, especially farmed salmon and shrimps, are highly nutritious sources of food, consisting of important proteins, vitamins A, B, D, and Niacin, minerals like iodine, iron, phosphorus, and zinc. These foods also have a significant source of Omega-3 fatty acids such as docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA). The high presence of minerals and important nutrients in seafood play a crucial role in the improvement of brain development and reproduction. Such nutritive advantages of aquaculture products have the dependence of people on these food sources, resulting in the overall growth of the market during the forecast period.
APAC will continue its dominance in the market during the forecast period and is likely to account for more than 77% of the overall market revenue. China, India and Indonesia are the major revenue-contributing countries in the APAC region. A large portion of the market is dominated by China, which accounts for around 70% of the global production of carps and oysters. Vietnamese prefer aquatic food because of its high nutritional value and the easily digestible nature, besides being available at low costs. Much of the region’s growth can be attributed to the high demand for Crustaceans, and the rising domestic consumption of various aquatic
Overview of the water heater market in North America
The unpredictable changing weather conditions in North America have propelled the use of heating appliances in the region. Residential water heaters are the most consumed storage water heaters in the market. Remodeling of bathrooms is a major factor boosting the upgrade purchases of water heaters in the region. People are making huge investments in appliances like water heaters that have stylish looks to match with the aesthetics of their bathrooms. Users are also opting for water heaters that do not occupy much space and look modern. These preferences have propelled the demand for tankless water heaters as these heaters are comfortable and sophisticated to use and are energy-efficient. Consumers are shifting towards these water heaters to save on their electricity consumption and utility bills. Also, the demand for tankless or instantaneous water heaters is increasing due to their compact size, ease-of-use, less heating time, and reduced wait time for hot water. Technavio’s market research analyst predicts the water heater market in North America to grow at a CAGR of around 3% by 2020.
With the soaring electricity and gas prices, the end users are increasingly adopting solar water heaters. Solar water heaters have low maintenance costs and provide hot water by using solar energy. This reduces the dependence on electricity and gas for heating water. Countries like the US and Canada are promoting solar water heaters as appliances that use a clean and renewable source of energy, which will boost the demand for solar water heaters over the next five years. Moreover, several vendors in the market are focusing on utilizing renewable energy sources by
Outlook of the global home electronics safe market
Market research analyst at Technavio, predict that the global home electronics safe market will grow progressively and post a CAGR of around 5% by 2020. The increasing adoption of gun safes will be one of the primary drivers for the market. These safes are gaining popularity because of their ability to provide protection, prevent unauthorized usage, and theft. These safes come with special features like as fire and moisture protection, fingerprint identification, and digital or mechanical locks. It has been observed that the manufacturers offer innovated technology, which meet the required regulatory standards in different countries. Some of the other factors that contribute to the growth of the market during the estimated period will be the rising crime rates, increasing purchasing power of people, and security concerns among the general population.
One of the recent trends in the market is the introduction of smart safes. Recently, it has been observed that many vendors have started developing technologically advanced smart safes that can connect to the smartphone of the customer and have fingerprint scanners. For instance, Gunbox launched a high-tech safe that has smart features like 360-degree biometric fingerprint scanners. These safes can be opened using a wristband that pairs with the RFID (radio-frequency identification) scanner. Other features included are internal motion and vibration sensors, which alerts the user if someone tries to tamper with the safe.
Global overview of the global smart connected air conditioner market
According to Technavio’s market research analysts, the global market for smart connected air conditioners will grow at a profound CAGR of over 60% by 2020. The rising popularity of smart gadgets that can convert conventional remote-controlled air conditioners into smart devices will aid in the strong growth of this market during the forecast period. Many consumers do not wish to buy a smart connected air conditioner just to upgrade their conventional air conditioners. To overcome this issue, many key players and start-ups have started developing smart accessories that can transform the user’s existing window, wall-mounted, and mobile air conditioners into devices that offer more convenience and comfort. For instance, a start-up recently launched a smart device called Sensibo, which can connect to the user’s smartphone and remotely control the settings of the unit and automates the home climate control with intelligent features, including location-based activation and timer settings.
In terms of geography, our analysts estimate the APAC region to be the largest region in terms of overall air conditioner sales. As a result, this region is anticipated to be a hot spot for large smart connected air conditioner players like LG and Samsung. During the forecast period, regions like Japan, Singapore, and Hong Kong are expected to witness a stark increase in the sales of smart appliances like smart connected air conditioners due to the hot climate in these countries and the growing awareness of smart integrated appliances.
Competitive landscape and key vendors
This market is estimated to grow at a steady pace during the forecast period. Since many large and small players are investing significantly in smart appliances, the level of competition among them is expected to intensify over the next five years. This
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