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The Future Of Ireland’s Power Industry Market Outlook: Ken Research

According to the study “Ireland Power Market Outlook To 2030 Update 2018” The Single Electricity Market is the wholesale electricity market for the island of Ireland whose goal is to provide for the least cost source of electricity generation to meet customer demand at any one time across the island, while also maximizing long-term sustainability and reliability. One main commercial change is that suppliers (which are basically companies that provide electricity to their residential and industrial customers) and wind generators can trade in the market. The second major change relates to the introduction of a day ahead market in which electricity generators, financial traders and suppliers can position their portfolios at the day ahead stage. The Irish power industry is changing constantly and 2018 has seen the beginning of a radical change for Ireland’s electricity system. Several recent developments have taken place and focus is on establishing new units of power production. The introduction of the Integrated Single Electricity Market (I-SEM) and the accompanying reforms will shift value, accelerate asset closures and create new opportunities.

The electricity market price, which generators and suppliers get matched, and cross-border electricity flows will be decided by a European-wide algorithm called EUPHEMIA. The aim of the algorithm is to maximize social welfare. One way in which it achieves this is by ensuring that electricity flows from low priced regions to higher priced regions until either the interconnection capacity is congested or until the prices in the regions match. Even natural gas is being procured and the recently established Corrib gas field is said to greatly enhance the country’s security of supply. It is expected to cater to a significant portion of Ireland’s gas needs at the peak of its production capacity, powering Irish homes and business. Renewable energy is also being promoted because despite Ireland having operations in diverse fields of the power sector, it is mainly a net importer in this respect with heavy dependence on Britain. Wind, bio-energy and solar energy all have immense potential and this had been realized by the country long ago as the Renewable Energy Directive of 2009 commits Ireland to meet a considerable amount of its energy demand from renewable energy sources by 2020.

The global Irish giant DCC has subsidiaries like DCC LPG and DCC Retail & Oil are key players with the former being prominent in Europe with a developing business in natural gas and the latter specializing in retailing of fuels and oil products along with their transportation. ESB is Ireland’s leading sustainable energy company comprising power generation, networks and supply. Tullow Oil is an independent oil and gas exploration and production company that has gone beyond Europe to monetizing oil in Africa and the Atlantic margins. Tedcastle Holdings is one of the largest fuel importers and distributors with a diverse range of businesses right across Ireland.

The Irish electricity and power market is fully liberalized in line with the European Union (EU) energy framework. The Department of Communications, Climate Action and Environment (DCCAE) has overall responsibility for development and implementation of energy policy in Ireland. The fundamental objectives of Irish energy policies are to ensure the security, sustainability and competitiveness of energy supply for the economy and society. These objectives have been set firmly in the context of the EU energy framework and the global energy and climate change landscape.

To know more click on the link below:-

https://www.kenresearch.com/energy-and-utilities/power/ireland-power-market-outlook-2030-update-2018/149642-103.html

Related report:-

https://www.kenresearch.com/energy-and-utilities/power/ireland-power-market-outlook-2025/10630-103.html

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Solar-Powered Uav’s To Encourage Global Military Uav Market : Ken Research

According to the study “Global Military UAV Market 2018-2028”, advanced technology is implemented in manufacture of military UAV’s for various combat missions that are too challenging for a manned aircraft. The introduction of microelectronics components in UAV’s is an added advantage and vendors offer modern tactical UAVs that are smaller and lighter which drives the growth in military UAV market. Miniaturized UAVs are adopted in surveillance applications and manufacturers are focussed on developing cost-efficient equipment which enhances the operational capability of small UAVs. With the advent of advanced technology in materials science, composite-based materials are used in the manufacture of lightweight UAV. It was estimated that UAVs will soon replace combat planes and helicopters in the military sector.

Unmanned Aerial Vehicles are known as UAV which are battery powered aerial vehicles or drones operated without the presence of pilot. UAV is used in military intelligence, commercial, recreational, scientific, surveillance, and agricultural applications. UAVs assist in the rapid deployment of troops and high mobility military operations in battlefields. The adoption of UAV’s has increased drastically that has led to the development of low-cost alternatives. Unmanned combat aerial vehicle (UCAV) is one such development that is used to fire small bombs that are significantly less expensive than the large air-to-surface missiles. Small bombs are more flexible and allow commanders to use them on soft targets like hostile ground troops or unarmored military trucks. Therefore, UCAVs are used extensively by the military agencies and missiles suppliers are investing in small bombs that are more effective during a combat. Alternative energy-powered UAVs are the latest equipment used globally. Manufactures are experimenting with alternative fuel cell technologies to reduce the dependence on fossils fuels.

The global unmanned aerial vehicle (UAV) market is geographically spread across Americas, APAC, and EMEA. The leading players in the global unmanned aerial vehicle (UAV) market are Israel Aerospace Industries, EMT Ingenieurgesellschaft, AAI Corporation, BlueBird Aero Systems, Singapore Technologies Aerospace, Airbus, Boeing, General Atomics Aeronautical Systems Inc., AeroVironment, Aeronautics Ltd., Elbit Systems Ltd., Northrop Grumman Corporation, Dassault Aviation SA., Sunbirds, Denel Dynamics, Korea Aerospace Industries, BAE Systems and Saab. Global UAV market is highly competitive due to many prominent players. The entry of new players is restricted in the military UAV market due to uncompromising safety and regulatory policies and requirements.

Sunbirds is one of the global leading manufacturer of UAV’s and has launched a solar-powered UAV that is embedded with a primary sensor or camera with thermal imaging property which is useful in military. Solar powered UAVs are adopted by militaries, defense agencies, paramilitary forces, and other national security agencies for intelligence, surveillance, and reconnaissance (ISR) missions because they can perform activities beyond the scope of human ability. Global military sector industry accounts for a large quantity of CO2 emissions during military operations that have led to the development of innovative solar energy-based UAVs. The concern over depletion of fossil fuels is directly related to climate change which is driving the need for solar energy in various applications.

The need for round-the-clock vigilant surveillance to detect incoming threats is driving the global military UAV’s market. New-age solar-powered UAVs are used to fight insurgencies and to provide ISR assistance. Globally, Americas is the major revenue contributor in the military UAV market due to the increased need for surveillance and security operations. This trend has resulted in the deployment of long-endurance UAVs within all military forces. As per the global statistics, Americas account for a major share in the solar-powered unmanned aerial vehicle market over the next few years. Lightweight UAV’s consume less power compared to the existing UAV avionics systems. The introduction of lightweight UAV’s is to minimize the financial wastage involved during any destruction of the drones in large numbers on various missions.

To know more, click on the link below:

https://www.kenresearch.com/defense-and-security/defense/global-military-uav-market-2018-2028/149677-16.html

Related Reports:-

https://www.kenresearch.com/defense-and-security/defense/global-military-uav-market-2017-2027/142327-16.html

https://www.kenresearch.com/defense-and-security/defense/global-military-uav-market/35565-16.html

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Industrialization And Globalization To Drive The Global Commercial Aircraft Market : Ken Research

According to the study “The Global Commercial Aircraft Market 2018-2028”, the global commercial aircraft market is categorized based on type of engine such as turbofan and turboprop. On the basis of commercial aircraft components such as airframe, engine, systems, avionics, interior, and landing gear. The various types of aircrafts available in the global market are large widebody, medium widebody, small widebody, narrow body, regional jets, and business jets.Global commercial aircraft market consists of five categories such as single-aisle aircraft, twin-aisle aircraft, regional jets, cargo aircraft, and business jets. Single-aisle aircrafts segment will witness a drastic growth over the next few years, followed by twin-aisle and regional jets segments.

Commercial aircrafts are used in the transportation sector to ferry millions of passengers from one corner of the globe to the other or used in transporting huge volumes of cargo. Commercial aviation market has boomed after the Second World War with the use of modified ex-military aircrafts to transport cargo or passengers. Narrow body commercial aircrafts are spacious enough to ferry more number of passengers compared to the wide body aircrafts. The global commercial aircraft market is driven by the increasing demand for single-aisle, narrow-body aircraft and expanding projects in the commercial aircraft sector. Industrialization in the emerging economies is likely to drive the growth in global commercial aircraft market due to a huge demand for low-cost airlines. Globally, jets account for a moderate revenue share in the commercial aircraft market.

Geographically, the global commercial aircraft market is spread across Europe, North America, Asia Pacific, and Rest of the World. The leading players in the global commercial aircraft market report are The Boeing Co., Airbus SE, Embraer SA, Bombardier, Textron, Dassault Aviation, General Dynamics Corporation, Piaggio Aero Industries, Pilatus Aircraft Ltd., Avions de Transport, Embraer, Commercial Aircraft Corporation of China Ltd. (COMAC), GE Aviation (General Electric Corporation), Rolls-Royce Holdings Plc., and Pratt and Whitney (United Technologies Corporation).

Asia-Pacific and North America hold the greatest potential in the commercial aircraft market due to well-developed air infrastructure, minimal rail connectivity and a vast landscape. These factors compel the travellers to fly when they need to travel from coast to coast. The growing investments in aircraft infrastructure, initiatives to connect more number of secondary cities across all the countries, increase in air traffic, demand for low cost carriers and increase in passengers in emerging countries are the major factors driving the global commercial aircraft market. Commercial aircraft market is focussing to enhance operational efficiency by reducing fuel consumption which is encouraging more investments worldwide.

Global commercial aircraft market is expected to show a beneficial growth over the next few years due to need for availing the fastest mode of transportation, impact of globalization that leads to increased business trips, and the rapid rate of urbanization. Therefore, global commercial aircraft market will witness a steady growth over the next few years.

To know more, click on the link below:

https://www.kenresearch.com/defense-and-security/defense/the-global-commercial-aircraft-market-2018-2028/149678-16.html

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Changing Dynamics Of UK Wealth Market Outlook: Ken Research

According to the Study, ‘Wealth in UK, Sizing the market opportunity 2017’, two prominent trends witnessed in UK wealth markets. First, the population is aging. This means more people, overall, are entering retirement, a time when people shift from accumulating assets to de-cumulating them. Roughly half the population is currently investing in private pension wealth schemes Second, Low interest rates have made wealth accumulation exceedingly difficult, and thus have raised the degree of skepticism with which many investors regard financial advisors. Many middle-aged people are still foolishly planning their retirements based on finding high returns in a 3 percent world.

There is no typical wealthy individual: Some are self-made entrepreneurs, many are directors in services firms and FTSE 100 companies, and a few are wealthy individuals living in the U.K. for tax and business reasons. In all of these cases, their focus is invariably the creation and preservation of capital.

Wealth in United Kingdom has witnessed a growing trend in the recent years. Researchers currently suggest that growth in the UK shall be muted after a strong growth in 2016. Rising offshore wealth in UK can be attributed to a critical factor of rising net investible assets especially with HNWs. The Isle of Man and Ireland have been reported to be the prime booking zones for UK offshore business owing particularly to inefficient taxation system which is currently operational in the United Kingdom. In the non HNW segment, campaigns to spread awareness about offshore investment conducted by HM revenue and costumes were seen as the major driver for increasing international investment.

The UK wealth pyramid can be divided into three segments. The lowest segment has the highest population and controls the least wealth. The focus of these households is debt reduction, maintaining their cash flow, and securing their homes for the future. The second segment which controls reasonable wealth in UK are trying to build capital through high income and savings, with much of their wealth tied up in the real estate of their primary homes. The top most segment includes the HNWs whose focus is to accumulate not just domestic but also international assets.

Although the wealth tied up in home ownership has declined over the past years yet the country is still a land of homeowners. Homeownership has been critical to rebuilding wealth, since property is the only leveraged investment available to most households. Meanwhile, investment property has grown at a very fast pace since 2008 and is an important holding of affluent households with significant liquid wealth.

After real estate, the largest asset class and one of the fastest growing are securities. Securities in the U.K. include onshore and offshore investment bonds, unwrapped investments (such as open-ended investment companies, unit trusts, exchange-traded funds, private equity holdings, and individual shares), stocks and shares individual savings accounts (ISAs), and life assurance products.

Age has also been one of the major differentiating zones in the UK wealth market. People in the younger group are about to enter their peak earning years and have relatively less accumulated wealth. They need a better financial education to ground them in sturdy, lifelong investment habits. Those in the older group are more educated and wealthy, but their earning potential is declining and they are primarily focused on preserving capital.

It is clear that there are major factors driving the outlook of this market such as age, income, and risk appetite. Huge middle income groups which still follow the practice of investment by their gut could be a key segment for wealth management firms to tap upon.

For more information, click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/wealth-uk-sizing-opportunity-2017/91912-93.html

Related Report  : -

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/wealth-belgium-competitive-dynamics/2292-93.html

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Assistive Technology To Help Students With Down Syndrome Market Outlook : Ken Research

Down syndrome is a genetic disorder caused by the presence of a third copy of chromosome 21. The average IQ of a young adult with Down syndrome is 50, equivalent to the mental ability of an 8 or 9 year old child but this can vary widely. While students with Down syndrome may share certain physical traits each student is an individual and the level of general learning disability will range from mild to profound. The student with this syndrome might have problems such as auditory and visual impairment, difficulties with thinking and reasoning and applying knowledge in new situations, limited concentration span and speech/language impairment.

For students with Down syndrome assistive technology provides adaptations that make accessing curriculum goals and completing tasks easier. Education industry research and market reports reveal that currently technologies have been developed and more are being researched on in order to help such students complete their assignments quicker than if they had tried the tasks on their own. Assistive technology offers a range of developments that are specialized to be comfortable while still being efficient.

1.     Children with Down syndrome tend to have shorter, stubbier fingers which reduce their ability to write. Since some of the wrist bones are not formed holding regular sized objects may be difficult for such people. Assistive technology has found that slanted desks or a three ring binder turned sideways allows a Down syndrome student to compensate for the lack of mobility in their wrists. Also providing them shortened or triangular shaped pencils will help them as they can hold these easily.

2.     There has also been awareness spread about the fact that Down syndrome students have issues with cutting skills. Their hand mobility does not allow the ease of opening and closing the normal scissors since that motion is difficult. The aids provided by assistive technology are scissors with springs that are fixed to automatically open once it has been shut.

3.     Assistive technology for Down syndrome students offers creative tactile ideas for allowing such children to get tactile experience for their growth and development. Among the ideas is the one to form their letters and numbers in Play-Doh or making them in shaving cream on their desk.

4.     Educational software that uses improved graphics and animation is also a key aid to such students. The core course material is taught using smart boards and alliances with reliable companies also improves the process.

Education market research reports reveal that the current assistive technology is improving and is increasing its range from simple modified gadgets to computer software’s. It is hoped that many Down syndrome students will benefit from the opportunities that interactive white boards give such as visual assistance. Educational software’s are extensively used and are being further researched on. UK schools have also started collaborating with the BBC in order to harness genuine information and some schools have even started opening their own websites to digitally aid their students. Additional attention is being paid to the fact that students with Down syndrome need to be made to feel equal and secure. Inclusive education is being promoted globally and assistive technology for children with Down syndrome is a clear testament to this.  

For more information, click on the link below:

https://www.kenresearch.com/education-and-recruitment/education/SC-99-81.html

Related Report  : -

https://www.kenresearch.com/education-and-recruitment/education/education-united-kingdom-isic-80/144456-99.html

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Ankur Gupta, Head Marketing & Communications

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Emergence of Pooling In Car Rental Market Outlook: Ken Research

Companies operating in car rental industry have realized that they are now not only operating to provide access to care but rather have to focus on mobility solutions. Users are currently looking for fulfilling variety of needs rather than just fulfilling one function.  The market for car rental is witnessing a dynamic shift and hire companies now offer variety of features to address their corporate clients need. To improve their own utility, companies have come up with car pooling or sharing mechanism. Global Car rental industry is expected to grow at a CAGR of 13.7% and reach an approximate market value of USD 127 Billion by the year 2022. This growth potential has been coupled with unorthodox services by the hire companies which include car pool servicing.

Car-sharing, or carpooling, started life as a motor vehicle version of hiring a DVD. Renting is no longer just a financial alternative to owning – user paid for a period of use, not for access at any time. The new service of carpooling, the user only pays by use. The person hires the vehicle when he or she confirms the booking via a device and stops when the user ends the booking.  Car sharing companies fulfill an important function. Both public sector companies and private companies have number of employees residing in different areas nearby and far-off. These companies look for mobility solutions for their employees to and from their workplace. These companies look for vehicular rental services to be provided to their employees. This is where car rental cash in with their pooling service by providing easy and efficient services. Since car booking is allowed at intervals of hour and half hour, it allows multiple employees to use the car pooling service. For the corporate client, there are also three ‘hidden’ benefits that accrue. First, duty-of-care is taken care of i.e. the users do not have to worry about the maintenance associated with the companies; second, these cars will be much lower-emitting than the typical privately-owned car; and third, one of the unexpected benefits is that it eliminates the need to drive to work. If the employee uses his car he shall have to drive it in the first place however, once an employer provides a car-sharing service, number of people use car sharing service which works as a positive externality to the employees motivation as they do not have to worry about traffic or driving to their workplace.

Currently UBER and Lyft dominate the market in the car pooling segment of car rental industry of US. UBER is a huge corporation with deep pocket which not only functions in this segment but also has other number of services. There have been many companies that have entered the market in the past year. These include Juno, Gett, BlaBla Car who although have a small market base but still have entered the market to explore untapped potential.

With rise in revenue of corporate clients and the need to motivate employees with non monetary incentives, companies have increased their demand of such services which opens up the pooling segment of car sharing. Thus, this industry will expand further in the coming years to serve both corporate and private customers efficiently and effectively.

For more information, click on the link below:

https://www.kenresearch.com/tag/automotive-transportation-and-warehousing/car-rental/161.html

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Lightweight And Durable Automotive Rubber Hoses To Drive North American Markets : Ken Research

According to the study “North America Automotive Rubber Hoses Industry Situation and Prospects Research report”, automotive hoses are made of synthetic materials such as heavy duty plastics and the composites are costlier than hoses made of rubber, encouraging the consumers to opt for alternatives such as automotive rubber hoses. North American has imposed stringent emission norms and regulations that encourage the manufacturers to build durable rubber hoses. Various types of automotive rubber hoses are non-reinforced rubber hoses and metal-reinforced rubber hoses. North America automotive rubber hoses are utilized in passenger cars, light commercial vehicles, special purpose vehicles, heavy commercial vehicles and two wheelers. Automotive rubber hoses are used as air conditioning hoses, turbocharger hoses, engine heating, cooling and radiator hoses, transmission hoses, lubrication hoses, fuel hoses and brake hoses. Automotive rubber hoses are easily available at original equipment manufacturers and in aftermarkets.

Transportation of fluids such as coolant, fuel and lubricants within an automobile is an integral process that is carried out by flexible conduits which are known as automotive rubber hoses. On an average, automobiles use a variety of hoses and pipes within the engine. Every hose and pipe is a crucial component that ensures proper functioning of the engine component. Any defective hose may cause engine overheating, coolant loss, fuel supply disruption, and lead to increase in vehicle downtime. Automotive hoses are used for transferring volatile and high temperature liquids and gases, from the engine after combustion to the exhaust system.

Almost all the automotive rubber hoses manufactured and used in North America are made up of rubber or any of its variants. Along with transmission of various fluids, automotive rubber hoses effectively convey pressure from one actuation point to another in a hydraulic circuit and function as a medium to create vacuum wherever necessary within an automobile. Automotive rubber hoses are designed in view of various parameters such as application, working conditions, pressure ratings, compatibility with varying chemicals and fluids. HVAC, braking and steering systems need the use of automotive hoses to ensure smooth functioning of a vehicle. The demand for better performance and efficiency in automobiles without compromising on fuel consumption has led to the inclusion of turbochargers in the power unit system of a vehicle which is driving the growth of long lasting and extra durable automotive rubber hoses in North America.

North America accounts for major share of the automotive rubber hoses market, followed by Canada due to flourishing automotive industry. Mexico and Brazil are creating attractive opportunities for the automotive rubber hoses market with the establishment of many well-known automobile manufacturers. The leading vendors in North America automotive rubber hoses market are Eaton, Hutchinson, Nichirin, Sumitomo Riko, TOYODA GOSEI, Belmont Rubber, Codan Rubber, Continental, DuPont, KraussMeffei Berstorff, Ningbo Fengmao Far-East Rubber, Shanghai Shangxiang Automotive Hoses, Shore Auto Rubber Exports, and Viad Elastomer Processors.

The increasing sales of LPG and CNG vehicles coupled with rise in consumers disposable income has led to a huge demand for specifically built automotive rubber hoses in North America. The major market challenge in North America is the fluctuation in the prices of available natural rubber. Therefore, majority of North American automotive rubber hoses manufacturers are investing heavily in R&D to manufacture lightweight and durable automotive rubber hoses. It was observed that there is an increase in production of automobiles, modernization, increase in consumer disposable income and need for a personal vehicle per individual which are the major factors driving the growth of the North American automobile and rubber hose market over the next few years.

For more information, click on the link below:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/north-america-automotive-rubber-hoses-industry-situation-and-prospects-research-report/145676-100.html

Related Report  : -

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/europe-automotive-rubber-hoses-industry-situation-and-prospects-research-report/145666-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/global-automotive-rubber-hoses-industry-situation-and-prospects-research-report/145671-100.html

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Ankur Gupta, Head Marketing & Communications

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Convergence Of Machine Learning With Education Sector Market Outlook : Ken Research

Education Business Review suggests that the machine learning in education sector is expected to grow at a CAGR of 46.7%, globally. Education with traditional methods is an outdated process that requires extensive human effort from both course instructors as well as students. The instructors need to prepare teaching materials, manually grade students’ homework, and provide feedback to the students on their learning progress. Students, on the other hand, typically go through an extremely burdensome “one-size-fits-all” learning process that is not personalized to their abilities, needs, and learning context. Education industry is moving away from traditional book learning techniques that do not reflect the complex reality to more immersive methodology involving all the students who tend to learn and grasp concepts at different speeds. Education industry has been revolutionized by introduction of the concept of machine learning. The use of digital books and adaptive learning allows for a much more tailored and customizable learning experience because teachers have the data on what students are exactly consuming and how they’re coming up with what they have to learn.

The use of this technology can help institutions to make student path predictions. Machine learning shall analyze the repetitive actions of the students and helps institutions understand the problem being faced by the student and if immediate action is required on the student. For instance Market Research Reports for Education reveals that if a student is facing problems in writing then the machine shall help the teacher understand how grave the situation is and whether the student will be able to overcome this problem with immediate action or with proper time and attention. The teachers shall not have to undergo tedious grading mechanism and can devote adequate time to important activities. With the introduction of machines into the grading mechanism, the chances of biasness towards any student are eliminated. The machine can analyze the current curriculum along with the student’s performance and suggest changes in the curriculum if any are actually needed. Not only this, it can even provide insights as to the changes in teaching mechanism or even introduction of newer more better methods. Machine Learning has the potential of organizing the content and curriculums in a better way, as it can analyze what works best and which concepts are understood better with certain techniques. As a result, the efficiency of education grows significantly and the students are happy because they get to learn important things in a way that they are comfortable with.

Machine learning software’s are being developed by many companies and startups around the world. Some major startups working in this segment are Querium Coporation (US), Metacog (UK), Bridge U (UK), Volley Labs (US) and Symbolabs (Israel). Symbolab’s machine learning algorithms understand the context and meaning of the queries to assist to provide a much better response to the queries.

With a high growth rate this technology shall witness huge growth in the coming 10 years because of developments in both machine learning and artificial intelligence. Machine learning in education is making it possible for people everywhere to access a wide variety of information to better educate them from an early age. It can be adapted into smart toys for children and be integrated into platforms for older kids to prepare for college. Machine learning is disrupting the education industry by changing the way we access education information.

For more information, click on the link below:

https://www.kenresearch.com/education-and-recruitment/education/SC-99-81.html

Related Report  : -

https://www.kenresearch.com/education-and-recruitment/education/education-united-kingdom-isic-80/144456-99.html

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Ankur Gupta, Head Marketing & Communications

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0124-4230204

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Opportunities with Rising HNW Population Market Outlook: Ken Research

According to the study, “HNW Targeting and Retention Strategies” Most banks like Credit Suisse, JP Morgan, BNP Paribus Citibank, Morgan Stanley, Deutsche Bank, HSBC provide wealth management services and have a separate business unit consulting of consultants and product specialists to provide wealth assistance to  HNW population. Private wealth management is delivered to high net worth individuals. This includes advice on use of various estates planning vehicles, business succession or stock option planning with the occasional hedging of derivatives for large blocks of stock. Traditionally, the wealthiest retail clients of investment firms demanded a greater level of service, product offering and sales personnel than that received by average clients. With an increase in the number of affluent investors in recent years, there has been an increasing demand for sophisticated financial solutions and expertise throughout the world.

High-net-worth individual (HNWI) is a term used by some segments of the financial services industry to designate persons whose investible assets (such as stocks and bonds) exceed a given amount. Typically, these individuals are defined as holding financial assets (excluding their primary residence) with a value greater than a specified given amount. Initially the HNW population was largely concentrated in the western countries of North America, however recent trends have shown that the population has begun to spread across the globe to cities such as Hong Kong, Dubai, Tokyo, London, Los Angeles to name a few. Furthermore the rise of emerging market over the past decade has triggered the upsurge of HNW population even in the South American and Asia Pacific region. The largest proportion of high net worth individuals in the world can be found in the North American region. Studies reveal that more than half of the HNW population resides in the North America. The global growth in HNI population can be attributed to factors like appreciation in equity and other asset classes and also in markets like commodities and real estate. 

Before selecting a wealth manager, HNW’s look for multitude factors such as experience of the firm, the products and services offered, charges, quality of firm and even employee turnover.

In 2017, China’s top regulators unveiled reforms for the country’s wealth management industry aiming to reduce the risk of accumulating across its financial system. The major reform is to shift to ‘traditional’ asset managers. China’s asset management industry was dominated by ‘quasi’ asset managers including bank wealth management products and trust companies whose nature is fundamentally different from global definitions. The traditional asset managers include mutual funds and private funds.

HNI needs include the likes of buying a property in Dubai, buying a structured product, picking up a stake in a promising or upcoming business, funding a real estate project through debt or could be even looking at the idea of buying into a distressed asset, or writing a complex will.  Orange Business Services (France) and Additiv (Singapore), an expert in digital solutions for the financial market, have teamed up to offer digital wealth management service products. The cloud-based offerings will automate wealth management and address the strong growing demand for digital financial services from clients and the urgency to reduce operating costs by many financial institutions.

Due to constant increase in the number of high net-worth individuals all around the globe, this industry is expected to grow at an increasing rate in the coming years and shall see its roots expanding to regions of Africa, Latin America and Asia – Pacific.

To know more, click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/hnw-targeting-retention-strategies/149646-93.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

[email protected]

0124-4230204

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Technological Advancements in Bamboo Pulp Manufacturing to Boost Asian Market : Ken Research

According to the study “Asia Bamboo Pulp Industry Situation and Prospects Research report”, bamboo pulp is a viscous solution of bamboo fibers, water, and chemicals used to production of a variety of papers and fabrics. Bamboo pulp is very similar to softwood in terms of fiber length and strength, however, bamboo can also be pulped together with hardwood. Mix of softwood and hardwood will yield stronger pulp compared to hardwood pulped separately. Bamboo wood contains high levels of papermaking fibres because plant cell walls are composed of cellulose which is the main material used to make paper. The structure and shape of the cellulose bamboo wood fibre varies from species to species and even within an individual tree.

Bamboo is a fast-growing, evergreen plant belonging to the botanical family of grasses. It is used as a construction material, source of implements, weapons, and ornaments in several regions of Asia. Several interesting facts and physical properties of bamboo make it an extremely attractive and highly sustainable source in the manufacture of many high-grade products such as textiles and paper. Bamboo is majorly used for pulping. Bamboo chips undergo digestion, shredding, washing and wet depithing to obtain bamboo pulp. The fibres undergo chemically digested under controlled pressure drops to open the fibres using the energy contained in the wet superheated fibres. Bamboo is chipped and cooked or heated under pressure, in a vessel known as a digester in a solution of water and chemicals. This process breaks the fibers down into a viscous pulp after complete digestion. Later, the pulp is subjected to several clarification stages to remove water, chemicals and suspended impurities. The dry pulp is compacted into sheets or bales in readiness for distribution. Bamboo fibers possess strong anti-bacterial qualities which greatly enhance the properties of items manufactured from bamboo pulp.

The leading players in Asia bamboo pulp market are Ampack Corp, Hindustan Paper, Phoenix Pulp and Paper, Panjipol Paper Industry, Siam Cellulose, The Titaghur Paper Mills, Yibin Paper, Yaan Paper, Guangxi Liujiang Paper, Guangdong Guangning, Guizhou Chishui, Zhongzhu Group and others. Bamboo pulp is categorized into two variants such as bleached pulp and unbleached pulp. Bamboo pulp is used in the manufacture of printing paper, writing paper, tissue paper, textiles and many more.

Chemical pulping converts the wood pulp into brown colour which is used for manufacture of packaging as cardboard and some paper bags. Whiteness is an important characteristic needed for manufacture of papers used for printing or high quality packaging. The so called bamboo wood pulp is bleached to obtain white colour and also purifies the pulp fibres. Bleaching process weakens the bamboo wood fibre but the need for different paper products with different requirements needs balance between strength and whiteness. To meet the varying needs of a paper industry, bamboo pulp mills produce a variety of pulps such as fully bleached, semi-bleached and unbleached.

Bamboo fibers possess anti-bacterial qualities that prevent the formation and spread of bacteria and mildew in fabrics and paper. Bamboo fibers also contain high concentrations of cellulose resulting in strong and robust end products. Asian bamboo pulp market will witness many new challenges and opportunities due to advanced technologies. Urbanization, modernization, and industrialization will drive bamboo pulp market in Asia over the next few years.

To know more, click on the link below:

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/asia-bamboo-pulp-industry-situation-and-prospects-research-report/145692-101.html

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Industrialization in Asia to Boost Barium Titanate Powder Market in the Near Future : Ken Research

According to the study “Asia Barium Titanate Formula Powder Industry Situation and Prospects Research report”, Asia’s barium titanate powder market consists of various international, regional and local vendors who compete based on quality, reliability, cost and advanced technology. The leading players in Asia’s barium titanate powder market are Sakai Chemical, Nippon Chemical, Fuji Titanium, KCM, Ferro, Shandong Sinocera, Zhongxing Electronic and Guangdong Fenghua. Barium titanate powder market is categorized based on production methods such as solid phase method, oxalate method, hydrothermal synthesis method and others.

Barium titanate powder is an oxide of barium and titanium denoted with the chemical formula BaTiO3. It is a ferroelectric ceramic material, with photorefractive effect and piezoelectric properties along with other properties such as water insoluble, alkali insoluble, soluble in dilute acids and soluble in concentrated acids. The various names for barium titanate powder are barium titanium oxide, barium titanate, barium titanate (IV), barium metatitanate, barium titanate(IV), barium titanium trioxide, CAS# 12047-27-7, Ticon 5016, Titanate (TiO3(2-)) barium(1:1), Titanate barium(1:1), Transelco 219-3, Tamtron X 7R262L, Tamtron X 7R302H, TB 1, Ticon 5016, Titanate (TiO3(2-)) barium(1:1), Titanate barium(1:1), and Transelco 219-3. Barium titanate powder is available in form of white powder, transparent large crystals, sintered pieces, targets, 45 microns x down powder, and nano-sized particles. Barium titanate powder is used in ferroelectric ceramics, single-crystals, storage devices, dielectric amplifiers, capacitors, electromechanical transducers and nonlinear optics. Drums and jars are used in packing barium titanate powder.

Barium titanate powder can exist in five phases when it is in solid form such as hexagonal, cubic, tetragonal, orthorhombic and rhombohedral crystal structures, starting from high temperature to low temperatures. Barium titanate is a dielectric ceramic used for capacitors, a piezoelectric material for microphones and transducers. As a piezoelectric material, Barium titanate powder is replaced by lead zirconate titanate (PZT) which is a useful material for thermistors and electric heating systems. In nonlinear optics category, barium titanate powder is used for self-pumped phase conjunction (SPPC) applications. Pure barium titanate powder is a major component of barium titanate capacitor energy storage systems that are used in the latest electric vehicles. Due to the biocompatibility property of barium titanate nanoparticles, it is employed as a nano-carrier in drug delivery.

Derivatives of barium titanate powder such as barium sulphate, barium oxide, barium chloride, barium titanate, barium nitrate, and barium carbonate are extensively used for making metal alloys, drilling fluid in oil wells, inks, plastics, paints and varnishes, vacuum tubes, and rubbers. The increasing applications of barium across several industries are expected to boost the Asian markets for barium titanate powder.

Increase in manufacturing activities, development of automotive industry, and improving construction industry are the key factors that are expected to fuel the Asia barium titanate powder market. The exponential demand for barium derivatives is expected to expand barium market in the near future. Barium in used in the steel industry for making steel deoxidizers, production of bearings, and for creating creep resistance which will witness am improved revenue over the next few years. The major market challenge is the high reactivity rate of barium derivatives, which limits its usage. The technological development of barium nanoparticles is expected to create new opportunities over the next few years.

For more information, click on the link below:

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/asia-barium-titanate-formula-powder-industry-situation-and-prospects-research-report/145693-101.html

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Developments In Car Rental Industry Market Outlook : Ken Research

The dynamic and complex business of car rental started with simplified renting car on per day basis at fixed base charges  plus over and above per mile charge. Soon hertz stepped into the market to change the face and fate of car rental industry. Now car rental is a fully fledged package consisting of combination of pickup and drop location, car type, rental period and even refueling option. Car rental industry is segmented on the basis of location, types of vehicle, market size, regions and many more. Car rental Market Research Reports that Emerging trends, technical advancements and industrialization has helped to expand the dynamism of car rental industry therefore influencing them to lower their carbon print, to go eco- friendly, introducing digitization, green and autonomous vehicle splendid techniques to protect from theft and most importantly has introduced with self driving ideology instead of hiring the driver which ultimately made end consumer more satisfied.

NEW TECHNOLOGIES THAT CAME INTO MARKET ARE:

Ø  Green technologies: Universal concern over pollution and global warming became the driving force for introducing hybrid rental cars that were highly fuel efficient and cost effective. Being easy on wallet and reducing global emission Hertz Toyota prius hybrid rental car became the prominent leader in hybrid category.

Ø  Electric Vehicle:  Fully electric vehicle is relatively more reliable and greener alternative to ordinary cars working on combustion engine. Therefore millions of dollars is spent by Orlando, Florida which is the most popular tourist destination and UK government to improve electric vehicles infrastructure

Ø  Black Box: They capture rudimentary information prior to accident. They record vehicle speeds and successfully helps automakers and government to design safer vehicles.

Ø  Biometrics: biometric is used across rental car collection points to protect the cars against theft. This technique is most used in Europe due to its high theft rate which collects the traceable records to track down criminals.

Ø  Electronic fuel Metering: this technology is primarily used by market leaders such as hertz to measure the amount of fuel customer has while leaving and when they return. If there would be any discrepancy it would easily be detected.

Ø  Smart phone technology: Automated rental technology that is use of mobile apps to hire rental cars are available 24/7 for the service of customer just a click away. Moreover inbuilt GPS system track rental car nearest to their current location. This function is available to more than 2000 location worldwide. Thus leaving no stone unturned to add value to customers.

Car rental Industry Analysis reports with increase in consumption and technology of car rental, the industry is anticipated to continue to grow through 2021. Car rental industries contribute significantly to reduce pollution level in the environment. Rise in the disposable income of developed countries such as North America, Europe, Asia- Pacific made them the major leader is continuously striving to equip themselves with all new technologies to acquire each and every customer in the market. The onset of technical gadgets is predicted to increase competition among the market players such as Hertz Corporation, Uber Technologies Inc, Alamo and many more. At the end of the day consumers are satisfied with the change in technologies in car rental industries marking the success of car rental industry.

For more information, click on the link below:

https://www.kenresearch.com/tag/automotive-transportation-and-warehousing/car-rental/161.html

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Tunable Classroom Lighting Market Outlook: Ken Research

Modern day technology is bringing the fields of education and technology closer. Changes are being made to classrooms which will improve student learning. One such technology that is being proposed is that of tunable lighting. Such lighting has the feature to change its color according to various settings as it uses CCT (Correlated Colour Temperature) technology. The fact that adopting this technology will reduce energy and maintenance costs for schools is evident by education market research reports consulting.

Optimized lighting means being able to provide the right amount of light to help people accomplish their tasks, keep more energized or be more relaxed and comfortable which is why integrated lighting control and shading solutions have become important. Over time educational technology has led to developments in classroom tools but classroom lighting has not been such a prominent sector. Tunable lights have an extensive adaptability to the requirement and have been designed keeping in mind the concept of multifunctionality. LED systems aid the CCTs by providing the ability to vary the power and dimming levels to better support classroom activities. Despite still being in the experimental stage tunable lights are gaining preference. The US Department of Energy’s GATEWAY Program demonstrated this recently by carrying out a trial installation of tunable white LED lighting systems in three classrooms in the Carroliton-Farmers Branch Independent School District in Carroliton, Texas. This provided valuable insights into the use of this technology in a real world setting. Some of the results found were-

·         The reduction in input power for the tunable white LED lighting was estimated to be nearly 60%.

·         Dimming also helped increase the energy saving in each classroom.

·         The varied uses by teachers were recorded by the monitoring system. The effective lighting is clear by the fact that the lighting consistently operated with all or some of the luminaires turned off or dimmed for portions of the school day.

·         Colour consistency for the tunable white LED luminaires was very good even over the dimming range with only minor variations in CCT.

·         Teachers reported that students were more involved in the learning process and the lighting system improved the overall learning environment.

The research and experiments carried out in Texas are gaining popularity and other institutions are also doing their independent researches. Education business review reveals that Finelite conducted research on classroom lighting and the published findings have been used by Collaborative for High Performance Schools (CHPS) and Leadership in Energy and Environmental Design (LEED) to develop best classroom lighting practices. Both CHPS and LEED are highly reputed American green building rating systems the latter of which is the most widely used in the world. This clearly brings out the eco friendly prospects that come along with developing classroom lighting technology.

Tunable lighting has proven through initial tests that it is a smart option for classrooms that will not only improve learning but also prove to be beneficial to both the institution that uses it and the environment. Finelite is being joined by other companies who are trying to develop similar tunable classroom lighting. Interest from green building rating systems only builds on the fact that such lighting is the way forward with the US leading the way.    

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Saudi Arabia Canned Food Market Facing Trouble Putting the Lid on Thinning Customer Base : Ken Research

Product and Packaging Innovation in Canned Food Market

According to Chitwan Tayal, Market Research Associate at Ken Research, “Canned food market can be aided by introduction of new product categories and investment in packaging innovation. Organic food can be introduced in canned form to deliver health with convenience. Additionally, packaging innovation can be carried out in terms of non-BPA cans, recyclable cans and differentiated labeling based on target audience.”

Ken Research estimates that the canned food market in Saudi Arabia is expected to grow at CAGR of 1.9% for the next five years to reach around USD 509.9 million by 2022.”

Genesis of Canned Food Market

The canned food market in Saudi Arabia is about a 100 year old market. Most canned food companies in KSA were established in the late 1900s.  Growth was seen in this market in its initial years due to the convenience canned food provided in terms of storage as well as cooking. Over time, however, the reach of fresh products has expanded in KSA and consumers have started opting for these over canned food products as these are perceived to be healthier. Growth in the market has become stagnant and is likely to grow at a subdued rate in the future.

Matured Stage of Canned Food Sector in KSA

Canned food market in KSA is currently in its mature stage. There are very limited product innovations happening and companies are having trouble retaining customers. Product categories available in the canned food market include canned dairy, canned fish, canned meat, canned fruits and vegetables, canned legumes and beans and canned cooking sauces. Of these, canned dairy is the leading product category. Canned food market in Saudi Arabia has grown at a CAGR of 3.1% in the past 5 years.

Saudi Arabia canned food market is concentrated in nature. There are a limited number of large domestic players dominating the market. The major players in the canned food market in Saudi Arabia include Saudi Goody Products Marketing Company Ltd., Gulf Food Industries – California Garden, Almarai Co., Luna (NFIC), Saudia Dairy and Foodstuff Company (SADAFCO), Del Monte Saudi Arabia Ltd., Al-Wedyan National Company for Food Products Ltd., Al-Alali and AKH Foods. Canned food companies compete on the basis of various factors including price of products, product differentiation and location of their distribution depots.

Revival in Demand from End User Segments

Growth in institutional end user segments such as hotels, restaurants and fast food outlets will be a major source of demand for canned food products in the future. Saudi Arabia has shifted its focus to investments in the tourism sector to reduce its dependence on revenues from oil. Canned food products are also in demand by catering companies supplying meals to Hajj and Umrah pilgrims. The pilgrims were 2.4 million in number in 2017.

Demand for canned food is likely to be adversely affected by the NITAQAT scheme and Saudization. This is because this scheme is leading to exit of expatriates, which are major end users for canned food, in large numbers. Negative perception of healthiness of canned food is also affecting the market negatively. Consumers are increasingly opting for fresh and frozen products over canned substitutes.

For more information about the research report, refer to below link:

https://www.kenresearch.com/food-beverage-and-tobacco/general-food/saudi-arabia-canned-food-market/149549-11.html

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Launch Of Automative Vehicles In Car Rental Market Outlook : Ken Research

The concept of driverless vehicles seems to be new and it certainly feels novel, it was first thought of in the 1920s with Mercedes Benz actually taking up the project in 1980s. The recent developments have achieved greater recognitions and it entering various industry segments like logistics, aviation and even car rental. With the introduction of the driverless vehicles, it is shall not be about removing the need for people behind the wheel but rather people who shall keep the vehicle up and running in top notch conditions. Witnessing car rental companies entering this new segment, one thing that cannot be shadowed is the need for partnerships and acquisitions to create the best automotive system with billions of dollars on the line. Market Research Reports for Car rental reveals that this industry could grow at an approximate CAGR of 47.8% till 2030, globally.

Car rental industry is just another segment that is on the verge of disruption with the introduction of autonomous or driverless vehicles and hence car rental, rather being turned into dust is willing to adapt to this new phenomenon. Most of the recent developments in this market are focused on developing the technology but car rental companies could have significant role to play as driverless cars move forward. There are endless benefits to this technology. The one very prominent being improvements in prevention of accidents and mishaps associated with car rentals. Foreign tourists, business travelers hire a vehicle straight from the airport. Many who do so are unaware of the travelling conditions like roads, weather or even the driving norms. This makes them susceptible to make mistakes. From driving on the wrong side of highway to crashing vehicles in bad conditions, various cases have been reported and Car rental Industry Research Report suggests that 90% of the car accidents are caused by human error. Driverless vehicles do not require a human behind the wheel and hence mitigates this risk involved with car rental market. Another benefit that the user reaps is he or she shall have the liberty to focus their attention on more important matters rather than worrying about controlling the wheel. From enjoying the scenic beauty that travelers wish to witness or prepare for a meeting that business travelers have come for. Transportation of children, elderly, or the disabled could become easy without having to worry about the person behind the wheel. We could witness a decrease in the green house gas emissions due to regular upkeep and proper driving technique.

US car rental giants have already started to blend with this new technology. Many have started to partner with technology giants and are ready to roll out the driverless car concept in the car rental industry. Two high profile partnerships came into picture. Google’s Waymo entered into partnership with US car rental giant Avis for storing and maintaining autonomous vehicles while Apple’s self driving Lexuses have been linked to Hertz (US). Enterprise holdings, one of the market leaders in car rental market have partnered with a small startup Voyage involving a deal of just 12 cars.  

Rental car companies are not known for their innovation but they are certainly poised to deploy this technology and bring a dramatic shift in the car rental market. With each major company partnering with technology giants, they wish to improve efficiency and effectiveness in order to appeal their customers. Driverless cars will happen to car rental without any special investment from companies. It will just be an option when the vehicle is purchased, the same way that GPS is now and ultimately prove to be an inevitable change in the future.

For more information, click on the link below:

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Oman Cold Chain Industry is Heating up with Rising Demand for Meat & Sea Food : Ken Research

New Technological Change in Cold Chain Industry

According to Harsh Mittal, Senior Research Analyst at Ken Research, “Cold chain logistics infrastructure network can be improved by covering all major food consumption and production areas. New technologies involving the use of IOT in the monitoring of the cold chain and new refrigeration technology such as NXT COLD employing Electronic Refrigerant Injection Control Technology can be used to improve energy efficiency as the biggest cost of running a cold storage plant is of electricity.”

Ken Research estimates that the cold chain market in Oman is expected to grow at CAGR of 11.4% for the next five years to reach over USD 75 million by 2022.”

Oman have been chosen as a hot spot for cold chain sector due to strategic location and rapid diversification of economic activities basis which the sector has seen increase in investment activities. The government has made huge attempts to diversify the economy and reduce its dependence on oil. The logistic sector has been identified as the major sector which can contribute to the GDP of the country because of the strategic geographical location of Oman. With the development in the logistics sector and increase in the trade amount of goods with temperature dependent storage requirement, the demand for cold storage infrastructure have continued to prosper.

Early Stage Cold Chain Sector

Cold Chain sector in Oman is currently in its early growth stage however, there are limited players which provide cold chain services to varied end users such as meat, vegetables, dairy, poultry and pharmaceuticals. Cold storage capacity, which is generally measured in the number of pallets, stands at 400,000 as on December 2017 and looking at the focus of the government to make Oman a gateway to all the goods that arrive at GCC by developing the infrastructure and employing the latest technology,

Oman cold chain market is highly concentrated in nature and is at the nascent stage because of poor infrastructure, imperfect logistics system and low promotions. The major players in the country in the cold chain services include Agility Logistics, Al Madina Logistics, Enhance Oman, AL Khaleej Cold Store and ILS Logistics. Cold chain companies compete on various factors including the storage capacity, number of pallets, space, distribution network, number of clients, service verticals and others.

Compelling Potential with Growing End User Industries

Growth in end user industries for cold chain services such as pharmaceuticals, meat & seafood, frozen food and others have increased the demand for both cold transport and cold storage in the country. E-commerce industry has grown at a significantly high rate which has given a boost to the cold chain industry. However, despite of surge in demand, the occupancy rate of the cold storage facilities across the industry currently stands at around 60%. Cold Chain companies usually hold the inventory for 60-90 days. The price for the cold storage facility is OMR 0.35 per pallet per day.

The growing consumption of food and increasing food safety concerns in the market as well as the growing trend among Omani people for the consumption of frozen meat and seafood is anticipated to propel the demand of cold chain services in Oman. In addition to this, growth in pallet capacity by cold chain companies and establishment of global logistics partner will support market growth.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/oman-cold-chain-market/149593-100.html

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Oman Freight Forwarding Market Research Report : Ken Research

How oman freight forwarding market evolved?

Freight forwarders specializing in arranging storage and shipping of merchandise on behalf of its shippers are called freight forwarders. They usually provide a full range of services such as tracking inland transportation, preparation of shipping and export documents, booking cargo space, negotiating freight charges, freight consolidation, cargo insurance, and filing of insurance claims. The freight forwarding in Oman has existed for centuries with a history of spice trade with Indian traders. The ports of Oman have long history and have been the centers of trading activities. As majority of edible and manufactured products arrived from countries like India which served as the major partner of trade, the freight forwarding has grown organically in the country. With the discovery of oil and gas in the region, a lot of international companies came over to the Sultanate. The number of international flights (arrivals and departures) at the airports in the Sultanate rose by 11.9% in 2016 totaling 98.3 thousand, compared to 87.9 thousand in the previous year. The Port of Salalah, the largest port in Oman, is centrally located at the crossroads of trade between Asia and Europe. It has over 2.5 billion consumers and it serves the markets of East Africa, Red Sea, Indian Subcontinent and Arabian/Persian Gulf on its doorstep. The port operates both as a container terminal and general cargo terminal. The Oman freight forwarding market has grown from USD ~ Million in 2012 to USD ~ Million in 2017 at a CAGR of ~%. Trade with GCC countries will continue to drive the growth of freight forwarding in the region.  

Oman Freight Forwarding Market Segmentation

By Normal and Express Delivery

The normal / standard delivery segment dominated Oman freight forwarding market with the revenue share of ~ % whereas the express delivery segment has only~% in the year 2017. Normal delivery services are generally preferred where there is no urgent requirement for ordered goods. In Oman, majority of the customers prefer the cheapest form of shipping and are witnessed to wait for longer durations. Major companies operating into normal delivery includes DHL, Aramex, GAC Oman, Allied Logistics, Majan Shipping.

By Freight Movement Mode

The Sea freight segment dominated Oman freight forwarding market by capturing the major revenue share of ~% in the year 2017. The country has three major ports Sohar, Salalah and Duqm. The air freight segment followed road freight services in Oman freight forwarding market with ~% of market share. The major air freight in the country is managed by the Muscat International Airport followed by the Salalah Airport. The remaining revenue share was captured by road freight with a market share of ~% in 2017

By Flow Corridors

Asia flow corridor was observed to be the largest contributor in terms of revenue in Oman freight forwarding market by capturing almost half of the revenue share in the year 2017. The Oman-Europe flow corridor followed Oman-Asia in the revenue share percentage with ~% in the year 2017. Other major flow corridor includes the NAFTA countries and GCC countries.

By International and Domestic Companies

International companies operating in Oman freight forwarding market dominated by capturing more than half of the revenue share in the year 2017. Targeted entities for international freight forwarding companies are the international MNCs as such they always seek to make alliances with international freight companies backed by extensive service network and brand image in the market. Most of the international companies follow the asset light model as they don’t keep their own fleet to control the costs.

The Domestic companies although having their own fleet, do not have much foothold in the market. They only capture ~% of the freight forwarding market in 2017.

Oman Freight Forwarding Market Future Outlook And Projections

Oman freight forwarding market is expected to generate revenues worth USD 516 million by the year 2018, driven by growing E-commerce industry, continuous investment by the government in development of logistics infrastructure in Oman and the prevailing optimistic business sentiments in the sultanate

The Oman freight forwarding market is expected to be driven by the rising industrial activities, growing e-commerce industry, rising purchasing power, elevated demand for food, upcoming infrastructural projects and focused investment by the government in development of the industry.  The Oman government aims to position the Sultanate as a vital logistics center by 2040 under SOLS 2040 for its strategic logistics positions such as Duqm, Sohar, Salalah, and Muscat, high quality infrastructure, competitiveness and qualified human resources in this sector.

Under the ninth five year plan of the country, the Oman government has planned to reduce the oil dependency of the economy by almost half of what it was at the beginning of the plan in 2016. This move is supported by the Oman Logistics Strategy (OLS 2020) and thus will be a major growth driver for the logistics sector in the country.

Oman's logistics strategy drafted by the experts of Oman Logistics center focuses on four main axes: markets, technology, trade facilitation and human capital. It aims to analyze, identify and monitor opportunities by sector or by where the logistics sector can attract them and undertake projects or activities that enable it to achieve its target share of the shipping market. It also aims for adoption of a clear and intensive marketing policy locally, regionally and internationally.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/oman-freight-forwarding-market/149658-100.html

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