New Research Areas
This new procurement report, which is an integral part of Technavio’s category spend intelligence portfolio, analyzes the growth prospects for global translation and localization services for the next four years and provides insights into how they can derive benefits from the current market scenario. It also follows a triangulated research approach of primary and secondary research to assist procurement heads and category managers through webinars and analyzing internal databases.
Translation services involve the conversion of content from one language to another. The different types include sign language services for the hearing impaired, paper-based document or digital documentation translation, and software and website translation. Localization involves adaptation of products for new markets to meet national or regional preferences and ensure their successful adoption. It also includes the use of local, cultural, and linguistic traits along with different keyword trends as tools for product sales and marketing.
Our comprehensive data collection process follows a scrupulous approach of stakeholder insights, information review, data analysis, and information validation to offer suppliers a holistic overview of the future market landscape.
Inside the report
A must-read market intelligence report for all procurement and supply chain professionals looking to drive higher value from the use of
Category overview of risk management service market
This procurement market intelligence report, which is an essential part of Technavio’s category spend intelligence portfolio, reveals that the category managers engage with technology-based solution providers who are capable of innovating with new tools to identify and mitigate the risks. Extensive analysis of the demand-supply shifts in this market shows that there is an increased global demand for risk management services owing to a significant growth in industries such as health care and banking services, especially in the BRICS nations. The suppliers in the risk management services industry focus on catering to changing requirements when there are sudden changes in regulations and legislation related to their industry are adopting technologies such as analytics and risk management software (RMS) as these tools help the buyers to monitor and identify financial risks faced by companies easily.
To procure the best risk management services, buyers should engage with suppliers who offer risk scoring methodology, an algorithm for evaluating a vendor and ranking them on a scale of 1 to 1,000 where higher numbers denote higher risk as this practice can easily quantify threats and deficiency associated with vendors. A key procurement strategy followed by procurement managers in this market space is the selection of risk management service providers who continually keep
Category overview of in-store promotions market
Extensive procurement analysis carried out by the team of specialists at Technavio has shown that the procurement managers choose to partner with suppliers who have proficiency in the retail domain, and can create highly innovative in-store promotion strategies. This procurement market intelligence report also reveals that the global in-store promotions supply market is moving from customized offerings to proprietary solutions as there is an increase in the number of patents and trademarks. An intricate study of the demand-supply shifts in this market indicates that the there is increased demand for effective promotional campaigns that address all elements such as promotional forecasting, cannibalization effects, and halo effects. Retailers and consumer packaged goods (CPG) manufacturers are the ssmajor end-users of in-store promotions and increasingly depend on creative campaigns to increase volume sales, enhance brand awareness, and better customer engagements. On the other hand, the global in-store promotions supply market comprises of full-service agencies that offer in-store promotions among a broad portfolio of marketing services making it beneficial for buyers who are looking for omnichannel marketing campaigns to deliver consistent content across all channels
Overview of the global energy-based aesthetic devices market
Technavio’s market research analyst predicts the global energy-based aesthetic devices market to grow steadily at a CAGR of above 8% by 2021. One of the major contributors to the growth of this market is the rise in the demand for laser-based aesthetic procedures. Non-invasive laser procedures are being used in various fields, such as dermatology, ophthalmology, cardiovascular, cosmetic surgery, dentistry, and oncology-related surgery. These treatments are especially popular in developed countries due to increased accessibility, awareness, and popularity in these regions. Also, emerging countries have seen a phenomenal increase in the availability of advanced medical laser treatments during the last few years due to the increased business expansion by the leading vendors in these markets. This rapid rise in the adoption of laser-based procedures in developing countries will significantly contribute to the global energy-based aesthetic devices market in the coming years.
One of the latest trends gaining traction in this market is the increase in demand for minimally invasive and non-invasive procedures. Minimally invasive and non-invasive procedures are techniques that limit the size of incisions, and therefore, speeds recovery lessens pain and scarring and reduces the incidence of post-surgical complications. Laser treatments are among the most popular non-invasive procedures. Other than laser hair removal, the laser is gaining popularity in fat and cellulite removal treatment as well. These advantages of minimally invasive and non-invasive procedures will propel the global energy-based aesthetic
Overview of the global gel electrophoresis market
According to Technavio’s analysts, the global gel electrophoresis market is anticipated to grow at a steady rate and post a CAGR of close to 7% during the forecast period. The increasing demand for personalized medicine will drive the growth prospects for the global gel electrophoresis market until the end of 2021. Diagnostics obtain molecular profiling of body fluids and tumor tissues to identify the significant molecules responsible for regulating malignant features by using electrophoresis, which separates and quantifies these molecules. Also, it has been observed that electrophoresis methods such as two-dimensional difference gel electrophoresis (2-D-DIGE) allow quantitative, sensitive, reproducible, high-throughput, and exhaustive global protein expression profiling. The electrophoresis method develops cancer biomarkers and drives the preference for personalized medicine, which, in turn, increases the demand for lab equipment such as gel electrophoresis.
The growing trend for DNA profiling will drive the growth prospects for the global gel electrophoresis market for the next four years. One of the major factors responsible for the growing need for DNA profiling is paternity testing, which compares the DNA of the offspring of the father. Also, DNA profiling is used in forensic investigations to identify suspects or victims based on crime scene DNA electrophoresis. The
Overview of the global sperm analytical devices market
Market research analysts at Technavio predict that the global sperm analytical devices market will grow steadily during the next four years and post a CAGR of almost 8% by 2021. It has been observed that due to various factors such as the changing lifestyle that includes the consumption of alcohol and drugs and the modern work culture that involves minimal physical activity, the recent years witnessed an increase in the rate of infertility. This market research analysis identifies this increase in the infertility rate as one of the primary growth factors for the sperm analysis devices market. In addition to the changing lifestyle, the rise in obesity rates that result in increased instances of various health problems including cardiovascular diseases, diabetes, and hypertension will also be a major cause for infertility in men. Moreover, the increasing expenses of raising a child is also inducing more couples to wait longer to have children, which again increases the chances of infertility. As a result, the coming years will witness an increase in the number of regular sperm tests to investigate the quality and quantity of sperm, boosting the growth of the market.
Owing to the increased rate of infertility especially in countries with high elderly population and the increased awareness among public, there will be an increase in the number of egg, sperm, and embryo donation. This will increase the need to ensure the quality of the sperm donated before donation through sperm analysis tests, fueling the demand for sperm analytical devices.
Competitive landscape and key vendors
The sperm analytical devices market characterized by the presence of a few global and regional