ReleaseWire Connect

The global smart homes market is expected to reach USD 47.61 billion by 2020, according to a new study by Grand View Research, Inc. Emphasis on reduced carbon emission and energy conservation are expected to be the key driving forces for the market over the forecast period. Favorable regulatory initiatives for implementing smart homes owing to their energy efficiency characteristics are further expected to positively impact the global market over the next six years.

The global market for phytosterols is expected to reach USD 989.8 million by 2020, according to a new study by Grand View Research, Inc. Phytosterols are widely used as additives in food products such as dairy, sausages, cold cuts, etc. One of the major drivers for the growth of phytosterols market is the favorable regulatory scenario, promoting their use in functional foods and nutraceuticals. In addition, proven ability of phytosterols, to reduce cardiovascular disorders is also expected to have positive impact on market demand. Increasing prevalence of coronary heart diseases is further expected to augment the demand for phytosterols over the next six years.

The Latin America market for Insulin is expected to reach USD 3,760.7 million by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of diabetes (type I and type II) coupled with government initiatives to develop insulin in markets such as Brazil by providing medical and financial aid to the population in the form of subsidies and the entrance of multinational companies such as Novo Nordisk, Sanofi Aventis, etc is expected to drive regional insulin market. Affordability of medicines is perceived to be a key challenge for market development, as a significant part of the population may not be able to afford the product.

The global market for artificial organ and bionics is expected to reach USD 38.75 billion by 2020 at an estimated CAGR of 9.3% from 2014 to 2020, according to a new study by Grand View Research, Inc. Increasing prevalence of acute renal failure and renal disorders due to lifestyle habits such as excessive alcohol consumption and growing geriatric population base causing a rise in organ failure rates is expected to serve this market as a high impact rendering driver. In addition, growing incidence rates of accidents is expected to boost the demand for organ transplants, thus increasing demand for artificial organ. Artificial kidney dominated the global market in 2013, with revenue estimated at over USD 12.21 billion; demand is expected grow due to the increasing chronic kidney patients. Artificial liver is the fastest growing market segment, at an estimated CAGR of 11.0% from 2014 to 2020.

The global market for beef is expected to reach USD 2,151 billion by 2020, according to a new study by Grand View Research, Inc. Beef is the third largest consumed meat globally, with growing consumer preference towards meat as source of protein expected to drive demand for beef over the forecast period. In addition, growing disposable income in emerging markets has resulted in increased consumption of beef in comparison to pork and poultry. In addition, the market is expected to witness significant growth owing to food safety issues such as chemical residue and pathogen detection in other meat products.

The global market for healthcare nanotechnology is expected to reach USD 196.02 billion by 2020 growing at a CAGR of 12.1%, according to a new study by Grand View Research, Inc. Increasing susceptibility of patients towards chronic diseases such as cardiovascular, neurological, oncology and respiratory diseases coupled with increasing R&D spending opening new application avenues is expected to drive market growth over the next six years. Other drivers of this market include increasing government and private sector R&D aid and new players entering the market to bridge the gap between supply and demand.

The global market for ABS is expected to reach USD 30.35 billion by 2020, according to a new study by Grand View Research, Inc. ABS is one of the most preferred engineering plastics for automotive and appliances and is expected to witness growth over the forecast period owing to increased demand from these applications. There is increased focus on weight reduction in automobiles in order to have better fuel economy, which is expected to result in substitution of metals with plastics such as ABS. In addition, the augmented demand for consumer goods in emerging economies is expected boost the demand for engineering thermoplastics such as ABS.

The global market for bio-lubricants is expected to reach USD 2,601.9 million by 2020, according to a new study by Grand View Research, Inc. Bio-lubricants are increasingly being preferred to their mineral counterparts due to desirable properties of biodegradability, constant viscosity, high flash point and lower emissions. In addition, increasing regulatory support towards the use of sustainable products is further expected to augment the demand for bio-lubricants over the forecast period. However, high cost of bio-lubricants in comparison to synthetic lubricants coupled with limited application scope is expected to be a major challenge for the market over the next six years.

The global market for water soluble PVA films is expected to reach USD 319.5 million, while for polarizer PVA films market is expected to reach USD 7,723.2 million by 2020, according to a new study by Grand View Research, Inc. Increasing environmental concern, stringent government regulations for packaging coupled with increasing use of LCD panels are expected to remain key driving factors for the market. Volatile raw material prices are expected to be a key challenge to market growth over the forecast period.

The global microcontroller market is expected to reach USD 26,984.8 million by 2020, according to a new study by Grand View Research, Inc. Growing demand from end-use industries such as automotive and consumer electronics is expected to drive the global market over the forecast period. The advent of the Internet of Things (IoT) coupled with declining microcontroller prices is also expected to drive the industry over the next six years.