Significant Increase in the Demand of the Digital Transactions with the New Technologies in the Remittance Industry Market Outlook: Ken Research

Remittance industry is growing rapidly and the increasing remittance also affects the GDP of the economy. Moreover, by the time and new developments in the technology will lead to the significant growth in the forecasted period. The great portion of the economy is directly dependent on the remittance and with the more innovations in the technology the remittance inflows are become less time consuming and smooth. According to the report analysis, ‘Remittance Industry Research and Market Reports’ states that the transferring of money to family or friend in another country with the digital transaction is become more effective and many of the key players are working with the technology in improving the efficiency and have a positive impact of the cross border transactions. Moreover, in a research it is expected that India is the world’s largest receiver of the remittance.

With the introduction of the digital transaction in the remittance industry it will lead to less expensive transaction and eliminate the existence of middle man which directly reduces the fee of the cross border transactions. According to the World Bank report, the international remittances anticipate to reach above USD 500 billion in 2017, whereas the global body is doing development in the technologies which will enhance the safety measures and have a productive impact on the cross border payments. The digital remittances can assist people everywhere and make their lives easier which enables them do to what they want to do with their money. According to the report analysis, ‘Market Research Reports for Remittance’ states that in the coming years UPI (Unified Payments interface) can be popularized in this segment of consumers and allow a huge scope for the instant payment mechanism whereas, the biggest advantage of this is that in need only a payment address and will make fund transfer even easier. Moreover, the banks were using NEFT and IMPS for such transfers, but in the recent trend with the UPI it would open another channel for instant deal. Moreover, in the next version of UPI is expected to introduce with collect mandate for consumers who will now be able to pay their recurring payments through UPI. In addition, with the more development in the technology the RBI approval for the new version of UPI and make the market of digital transaction more effective in the remittance industry.

In the developed countries the remittance industry will grow more significantly with the more innovations and the internet technology is proof to be secured and most efficient way of transferring. According to the World Bank, India is the vital country of migrant’s remittance inflows across the globe with USD 68,968 million and percentage of 11.2%. In the developed countries such as North America and Europe is expected to acquire the handsome amount of share in the remittance industry whereas, in UAE the major transfer of money is done with Ripple for developing a remittance transfer mechanism which make the cross border payment cheaper and efficient to the consumer. Therefore, it is expected that in the coming years the market of remittance with the digital transaction will grow more significantly over the decades and more the highly competitive market is doing more research and development in the digital transaction.

For more information, click on the link below:

https://www.kenresearch.com/tag/banking-financial-services-and-insurance/remittance/177.html

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91 9015378249

Large Number Of Old Nuclear Reactors Gives New Opportunites In Flex Market Research Report : Ken Research

Ken Research’s Nuclear Plant Life Extension (Plex) Market, Update 2018 - Global Market Size, Average Cost, Trends, And Key Country Analysis To 2030 will facilitate in decision – making by providing data in the nuclear FLEX market. It will enable in making business strategies by understanding the trends existing in the market and thus leverage the study in positioning in such way to gain market advantage. The report will further enable in identifying key partners and business development partners to maximize the growth in the PLEX industry. The market players in the PLEX market who are the key players are Areva, SNC-Lavalin, Doosan-Babcock, Bechtel, Hatch Ltd, Aecon, EDF, Rosatom Group, Westinghouse, Kansai Electric, Kyushu electric and Kepco Plant Service and Engineering.

The last few years have seen very few new nuclear plants being built. It becomes financially feasible and sensible to extend the operating life of existing nuclear plants since it is profitable in terms of finances and resources that way. The report concentrates on the trends followed by the nuclear plants in extending their life cycle of plants of nine key player countries- United States, Canada, France, United Kingdom, Spain, the Russian Federation, Ukraine, Japan and Republic of Korea.

Due to financial feasibility of extending the life of the plant over building a new one, the scope for the PLEX market is huge in its potential. The United States has the largest number of reactors while Europe has the largest number of old reactors currently. Depending on the country and its rules, the period of validity of the license varies while the average technical life spans for 40 years. However, they can operate for 60 years, or even to 100 years as long as their maintenance and timely replacement of faulty parts are carried out periodically. But in common it is observed that these plants function longer than their validity of licenses. Many reactors even when unfit to function continue to do so without renewing due to the high value of depreciating nuclear assets. Keeping the environment and its sustainability in context, it becomes essential to study the safety of the reactors and audit them with regard to their lifetime. For the government, PLEX is equally attractive since it gives them extended time to invest in low carbon technologies and maximise savings from nuclear electricity generation. Unless the extra profits from FLEX are directed towards funding new reactors, the whole process might delay introduction of new build.

To know more, click on the link below:

https://www.kenresearch.com/energy-and-utilities/power/nuclear-plant-life-extension/154887-103.html

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91-9015378249

Global Dyes Market-Projections to 2022: Ken Research

The report titled “Global Dyes Market-Projections to 2022 - By Type (Reactive Dyes, Disperse Dyes, Direct Dyes, Vat Dyes, Acid Dyes and Others) and By Application (Textiles, Leather, Paper, Printing Inks and Others)” provides a comprehensive analysis of market size for dyes in different regions across the world, market segmentation by product type (reactive dyes, disperse dyes, direct dyes, acid dyes, vat dyes and others), by type of reactive dyes (Reactive ME Dyes, Reactive HE Dyes, Reactive Cold Dyes and Other), by type of Disperse dyes (Anthraquinone Dyes and Azo Dyes), by type of Acid dyes (Strong Acid Dyes, Weak Acid Dyes and Neutral Acid Dyes), by type of VAT dyes (Vat Dyes Based on Anthraquinone Derivatives and Vat Dyes Based on Indigo Derivatives), by application (textiles, leather, paper, printing inks and others), by market structure (unorganized and organized market), by region (APAC, Americas, Europe and Rest of the World) and by country (China, India, US, Brazil, UK and Germany).

The report also cover country snapshot of China, India, US, Brazil, UK and Germany dye market including market overview and market size and future projections, market segmentation by type of dyes; current and future projections, market segmentation by application; current and future projections and market competition landscape. The report also provides a holistic view of global dyes market ecosystem, value chain analysis and challenges faced by entities in value chain. The report also covers the parameter of competition among leading players of the market, global dyes market heat map, company profile of major players (DIC Corporation, Kiri Industries, Clariant AG, Cabot, Atul, AksharChem India Limited, Archroma, Zhejiang Longsheng Group Co. Ltd, Zhejiang Jihua Group Co., Ltd., Colourtex Pvt. Ltd., Everlight Chemicals, Lanxess, BASF and Huntsman).

Global Dyes Market Size

In terms of revenue, the global dyes market has registered a constant growth with positive CAGR in last five years (2012-2017). Region wise, APAC has been the largest producer followed by the Americas, Europe and Rest of the World (RoW). Country wise, China has been the largest producer followed by India, US, Brazil, UK and Germany. Rising environmental issues along with surging pollution levels have resulted in policy changes across the globe. A shift from using synthetic dyes to natural or organic dyes has been observed in recent years, majorly due to high presence of hazardous chemical content in synthetic ones and growing awareness among users of the end product.

Global Dyes Market Segmentation

By Type of Dyes: The overall dyes market is dominated by Reactive Dyes both in terms of revenue and volume produced, owing to the widespread use of reactive dyes in textile and leather industry. Disperse dyes have the second highest market share which is followed by direct, acid and vat dyes respectively.

By Application: The textile industry dominated global dyes market majorly due to increasing consumer preferences for new and unusual textile colors. Rising usage of leather dyes owing to increasing consumer preference towards leather products in major countries has further augmented the demand. Rising demand for high performance dyes in printing inks and paper industry has been driving an additional demand for black dyes over the globe.

By Region: Asia-Pacific region dominated the global dyes market owing to increased manufacturing capabilities in developing economies such as China, India and Indonesia. United States leads the North and South American region in production and export of dyes, followed by Brazil. A number of global players operating in the region have shifted their manufacturing facilities to low cost APAC countries with less stringent regulations.

By Country: China is the leading manufacturer and exporter of dyes around the globe. India is the second largest manufacturer and exporter of dyes in the world after China. Apart from China and India, other major manufacturers of dye are US, Brazil, UK and Germany.

By Market Structure: The organized players dominate the global dye industry in terms of revenue as well as production volume. Major dye manufacturers in the organized sector include Bodal Chemicals, Atul Chemicals, Colourtex, Huntsman, Zhejiang Longsheng, Zhejiang Runtu Co. Ltd., Jiangsu Yabang Dyestuff Co. Ltd., Dystar, BASF and others whereas, the unorganized sector include a large number of small and medium scale dye manufacturers in each country across the globe.

Competition in Global Dyes Market

Competition among players in the Dye industry is majorly on the basis of manufacturing process, technology, and pricing strategy. The dye manufacturing industry is transitioning from low-tech manufacturing to an innovative high-tech sector and adopting backward integration process. Most of the dye manufacturers are using the latest technology available to improve the quality of their product and to reduce the effluent discharge. Manufacturers of dyes globally have to strategically price their products that meet the demand and criteria of the domestic and international Market.

Global Dyes Market Future Outlook and Projections

The global dye industry is expected to grow with a positive CAGR from 2017-2022. APAC region will continue to lead the global dye market in the future owing to the expected strong growth of the dye industry in China, US and India. Robust growth in end users industries such as textiles, construction, automotives, printing inks, paper and personal care industry will drive the global demand for dyes. The textile industry is likely to be the major application for dyes owing to globally increasing population, increasing disposable income and ever changing consumer fashion trends worldwide. Apart from China and India, the production and export of dyes from other Asia Pacific Countries is also likely to increase. Rising environmental issues along with surging pollution levels have resulted in policy changes across the globe.

Key Segments Covered:-

By Type Dyes:- Reactive Dyes, Disperse Dyes, Direct Dyes, Acid Dyes, Vat Dyes, Others

By Market Structure:- Organized Market, Unorganized Market

By Type of End User Application:- Textiles, Leather, Paper, Printing Inks, Others

By Region:- APAC, Americas, Europe, Rest of the World

By Country:- China, India, US, Brazil, UK, Germany

Key Target Audience:- Dye Manufacturers, Dye Intermediaries Manufacturers, Major Importers and Exporters of Dye, Private Equity Ventures

Time Period Captured in the Report:-

2012-2017 – Historical Period

2017-2022 – Future Forecast

Companies Covered:-

Dye Manufacturing Companies:-

DIC Corporation, Kiri Industries, Clariant AG, Cabot, Atul, AksharChem India Limited, Archroma, Zhejiang Longsheng Group Co. Ltd, Zhejiang Jihua Group Co., Ltd., Colourtex Pvt. Ltd., Everlight Chemicals, Lanxess, BASF and Huntsman

Key Topics Covered in the Report:-

Overview of Global Chemical Industry

Value Chain Analysis in Global Dyes Market

Challenges Faced by Entities in Value Chain

Global Dyes Market

Market Size by Revenue

Market Segmentation by Type of Dyes, by Type of Reactive Dyes, by Type of Disperse Dye, by Type of Acid Dye, by Type of VAT Dyes, by Application, by Market Structure, by Region and by country.

Country Snapshot – China Dyes Market

Country Snapshot – India Dyes Market

Country Snapshot – US Dyes Market

Country Snapshot – Brazil Dyes Market

Country Snapshot – Germany Dyes Market

Country Snapshot – UK Dyes Market

Comparative Landscape in Global Dyes Market

Comparative Landscape in Global Dyes Market

Parameters for Competing

Global Dyes Market Heat Map

Company Profiles of Major Players Operating in Global Dyes Market

PESTEL Analysis in Global Dyes Market

Trends and Developments in Global Dyes Market

Trade Scenario in Global Dyes Market

Regulatory Landscape in Global Dyes Market

Analyst Recommendations

For more information, refer to the link below:

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/global-dyes-market/157430-101.html

Related Reports:-

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/china-dyes-market/151501-101.html

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/china-organic-pigments-market/152236-101.html

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/india-dyes-market/149540-101.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Education Market Research Report : Ken Research

Education Market Research report describes education which is a continuous and lifelong process of development from infancy to maturity. It includes the effect of everything which influences human personality. Human behavior is modified and improved through educational process. Life without education is meaningless. It is the process of training and developing the knowledge, skill, mind, character etc. it is of three types; formal education, non-formal education and informal education. Formal education is delivered by trained teachers within a school, college or university. Non-formal education (NHE) is any organized educational activity that takes place outside the formal educational system. Some characteristics of NHE are flexibility, non-authoritarian and enhance human & environmental potentiality. Informal education occurs outside of a structured curriculum e.g. teaching by parent, friend etc.

Education is of four types on the basis of study of knowledge such as liberal education, professional education, technical education and vocational education. Liberal Education is an approach to learning that empowers individuals and prepares them to deal with complexity, diversity, and change. A liberal education helps students develop a sense of social responsibility, as well as strong and transferable intellectual and practical skills such as communication, analytical and problem-solving skills, and a demonstrated ability to apply knowledge and skills in real-world settings.  Nowadays many disciplines in sciences and social sciences are also included under liberal education as they develop the power of mind. Additionally professional education is adding special competencies over the professional practice such as archivists, librarians, teachers, nurses, engineers and doctors.

Vocational education training provides career and technical education to the interested students. Some examples of vocational education are medical assisting, office management skills, word processing applications and food & beverage management etc. Technical education provides knowledge about modern technologies.

There are many advantages of education. It creates awareness, expands our visions, develop a discipline life, enable to earning livelihood etc. It is the key to gender equality and women empowerment. There are also some drawbacks of education such as restriction of personal thoughts and discrimination. The people who have more degree or experience have thoughts that they are ahead of everyone. And also the marks or grade system creates difference from smaller age in the children. So, education should be thought as the subject matter not as a competition. Education makes people restrict their own ideas in the process of learning.

Nowadays online education is one of the easy methods of getting education. It is widely opted by millions of students from all around the world. It is the way of education by which a student can learn by sitting at home with the help of computers and mobile. Many videos, documents, ppts, tutorials of education are available on internet. By online education, student can do more than one course at a time in a relaxed and comfortable manner. Top websites for online education are coursera, edx, futurelearn, udacity, saylor academy, open2study, iversity, cognitive class and udemy. There are some challenges faced by the use of online education with no face to face interaction and requires the high amount of reading skills & hard work. Online education is developing primarily due development of technologies like studyblue, flashnotes, papertab, leap motion, celly, chromebooks, lessoncast, knewton, glogster edu and livebinders etc. These technologies have helped in evolving the education area and have changed the learning way of students.There are many of factors adding growth in the online education are perceived convenience, increased reach and personalization offered by online channels.

In India, best education companies are edukart, edugorilla, embibe, meritnation, careerguide, wiziq, toppr, vedantu, educomp, culture alley and nayidisha. There are also some apps of education on internet such as Toprankers, Byju’s, Prozo, Equickers, NCERT solution, Simplilearn, Gk for all, English to Hindi dictionary offline and vocabulary. Globally, best education companies are ABC English, Alison, Ambassadors group, Crick software, CTC trainCanada, ECC, DeVry education group, ecollege, Grovo, Globalscholar, Knewton, Lernia and Prepme etc.

To know more, click on the link below:

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

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com

+91-9015378249

Thailand Warehousing Market Research Report to 2022: Ken Research

How Thailand Warehousing Market is positioned?

Warehouses Operating in Thailand are not just simply storage spaces, but instead host multiple value-adding processes, like just-in-time packaging, assembly, product customization and others. In the past, warehouse was known as a cost center but now organizations in Thailand use warehouse as a place to add value by doing many related jobs such as labeling and packaging. Due to lingering price disparity in the country, the modern way of handling warehousing or distribution centers is commonly targeted for premium products and the conventional way is frequently utilized and is used by the rate-conscious firms.

The demand of the warehousing in Thailand comes from logistics firm, distribution and trading and other industry sources. The increase in demand can be attributed to the consumers which need fast, accurate and safe

Delivery of goods. In terms of revenue generation, the warehousing market in Thailand was evaluated

Raising living standard in the country and sizeable young population coupled with flourishing tourism in Thailand has attracted a host of international brands, thus driving the demand for warehousing services in the country. The attractiveness of the market conditions has led to increased competition from growing players in domestic and foreign markets with more companies aiming to become end to end suppliers for logistics and warehousing services in the country. Thailand warehousing market reached its highest revenues worth USD ~ billion in the year 2017, thus growing at a five year CAGR of ~% for the review period 2012-2017.

Thailand Warehousing Market Segmentation

By Warehouse Space

Most of warehouse space is located in Samutprakarn province, with a total area of ~sqm or ~% of entire market. Samutprakarn still remain the most popular location for logistic service providers. This is mainly because this province is located not far from Bangkok, the capital city of Thailand, and the Suvarnabhumi Airport. Chonburi takes the second highest amount of warehouse area in Thailand contributing almost ~ sqm which equals about ~% of the overall warehousing market in Thailand mainly due to the lower rates for warehousing compared to the city of Bangkok and the convenient location of Chonburi. Ayyuthaya contributes the third highest share in terms of warehouse area available In Thailand with a share of about ~%

By End User

The FMCG sector drives significant investment and value for Thailand warehousing market by capturing revenue share worth ~% in the year 2017. The fast moving consumer goods sector in Thailand has had a slow pace recently in terms of growth. The marginal growth it has had over the last 5 years has been caused mainly due to the increase in

The second major sector contributing to the warehousing sector is automotive. The growth in the number of passenger vehicles has led to an increased demand for vehicle parts and service equipment leading to the automotive sector having a market size of THB ~ Billion. The electronics sector takes the next highest market share as the demand for high grade electrical and electronic equipment is constantly on the rise in developing countries. Remaining sectors varied from textiles to consumer durables to pharmaceuticals cumulatively contributing THB ~ Billion to the Warehousing industry in Thailand

By Type of Ownership

3PL (Third Party Logistics) make up the primary warehousing services market contributing a share of about ~% to the total market. The overall contribution is of about THB ~Billion. Most of the warehousing service providers in Thailand have their own physical warehouses. In-house warehousing contributes about THB ~Billion to the warehousing market. The companies with their own warehousing facilities are rarely located within the city in Thailand.

Thailand Warehousing Market Segmentation

By Business Model

The industrial / retail freight segment dominated overall Thailand warehousing market with a massive revenue share of ~% in the year 2017. The rising retail sector in Thailand has elevated the requirement of warehouses in the country majorly due to increasing demand for storage of processed packaged foods and beverages, as modern food retailing businesses expanded their operations in order to meet the consumer requirements. The use of containers in export shipments makes the transport and goods handling easier and faster. Additionally, the containers are designed to facilitate the carriage of goods without intermediate reloading. The cold storage segment in Thailand warehousing market captured revenue share worth ~% in the year 2017 owing to the rise in products requiring cold storage. Major selling cold storage products in Thailand include the pharmaceutical products such as vaccines and injections which have a requirement of being stored in a temperature controlled environment.

Comparative Landscape in Thailand Warehousing Market

The market encompasses a mix of unorganized and organized players. The companies in the country are competing with each other on the basis of the size and location of the warehouse. The location of the warehouse has to be appropriate to the needs of the customer which reduces extra cost of transportation and increases time efficiency. The other important factors which influence the choice of warehouse are technologies/automation used in the warehouses; value added services, GDP-certified temperature and humidity-controlled environment and others. Though there is high initial cost in terms of investment while adopting these technologies, players know that it will reap huge benefits in the long term in terms of competitive advantage over other players and efficiency in operations.

Thailand Warehousing Market Future Outlook and Projections

The key drivers behind the boost in growth rate are to be the increase in the standard of living of the Thai population causing more businesses to enter into Thai markets increasing the demand for warehousing facilities and increasing the price of warehousing in prime locations significantly.  The market is forecasted to grow at a CAGR of ~% from a size of about THB ~Billion to almost THB ~Million. It is expected that approximately ~ square meters of warehouse supply will enter to the market. The future supply of warehouse has increased, especially in the areas that were affected by the government’s Eastern Economic Corridor policy (EEC) and a “Thailand 4.0” policy, such as Chonburi and Chachoengsao provinces. The secondary reason is the increase in investment towards development of lower tier cities in Thailand to make them equivalent to the current status of Bangkok which is one the most critical cities in Thailand and is the biggest individual contributor to the economy of Thailand.

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

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/thailand-warehousing-market/157171-100.html

Related Reports

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/kuwait-warehousing-market/150167-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/poland-warehousing-market/149481-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-warehousing-market/145652-100.html

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

India ATM Cash Management Services Market is Expected to Reach over INR 4,100 Crore by Fiscal year ending March 2023: Ken Research

Analysts at Ken Research in their latest publication, “India ATM Cash Management Market Forecast to 2023 – by ATM Replenishment, Cash in Transit, Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash Processing” believe that promoting better regulations, setting up ATMs in rural areas and focusing towards timely ATM replenishment will aid the India ATM Cash Management Services Market. India ATM Cash Management Services market is expected to register positive CAGR of around 6.8% during the period FY’2018-FY’2023 in terms of revenue.

Increase in retail customer base in terms of jewelers, gold loan companies; retail stores along with hospital chains will drive the demand of cash management companies as these all customer’s deals in large volume of cash transfers.

Growth in debit cards and increasing direct benefit transfers will lead to surge in cash withdrawal and a higher demand for ATMs in future, which will imply banks to outsource more number of ATMs to cash management companies.

Rising number of transactions performed in an ATM will shoot up in future with the introduction of machines such as bunch note acceptor and cash recyclers in the market. As, these machines allows various other features other than cash withdrawal such as cash deposit, updating passbook, user KYC and others will augment the growth of India ATM Cash Management Service market.

Cash management services also provide other services such as vaulting services, bullion management, and cash processing which will further aid the demand for ATM cash management service providers as there is an increase in demand of these services.

ATM recycling machines installations will grow in future and banks would be outsourcing these machines as well. Interoperability will be a game changer. This will lead to double the transactions with lower CRA cost.

Increasing use of digital payment apps in future will decline the non financial transactions as it will allow people to check their account balance and keep a track record of their past transactions. However, total number of transaction in an ATM will increase in future as majority of the people still depends on cash transaction as compared to making digital payments. Cash will continue to remain King in terms of payments, shopping and other transactions in future as well.

Keywords:-

Number of ATM Transactions India

Cash Reconciliation Market

Bullion Management Market India

Cash Circulation Trend India

Importance of Cash India

Impact of Demonetization India

ATM Security Market India

India Cash Management Services

India Cash Management Services Market Value

India Cash Management System

India Cash Management Services Market Revenue

Cash Management Services in India

India Cash Management Services Market Competition

India Cash Management Services Market Size

Products Covered:-

ATM Replenishment

Cash-in-Transit (CIT)

CPD (Cash Pickup and Delivery) /RCM (Retail Cash Management)

Vaulting Services, Bullion Management, and Cash Processing

Companies Covered:-

CMS Info System, SIS Prosegur, Brink’s Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash

For more information about the publication, refer to below link:-

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm-cash-management-market-forecast-2023-/154994-93.html

Related Reports:-

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-financial-brokerage-market-report/29331-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/india-online-loan-market-research-report/622-93.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Positive Landscape of Virtual Reality (VR) Technology in the Furniture Market Outlook: Ken Research

Furniture industry is undergoing with the more development in the technology and companies are also started making smart furniture with the facility of IoT that is Internet of Things. Not only has this, with the technology of Augmented Reality the phase of furniture industry is also enhancing with the more development in this technology. Moreover, with the more development in the technology and efficient innovations in the existing technology the market is become more attractive and lead to significant growth across the globe. According to the report analysis, ‘Market Research Reports for Furniture’ states that in the forecasted period the more development in the technology of Virtual reality transform the industry of furniture totally as virtual reality not only provide consumers with an opportunity to test-drive products but also to attract and retain their fickle attention. Additionally, significant increase in the disposable income and digitalization, the industry of furniture is growing more efficiently with the more development in the specifications of furniture.

However unsurprisingly, the development in the technology totally turned up the industry of furniture and the introduction of Virtual Reality into the retail of furniture world is revolutionary. Moreover, many of the companies such as Microsoft, Google and others are struggling to keep up with all of the technological advancement and providing better experience to the customers. Virtual Reality systems include immersive applications, such as head-mounted display and large projective displays. With the technology of VR in the smart phones, laptops, desktops shoppers can rotate, zoom in and out, and change the color or context of the product they are viewing. Moreover, the user of VR can participate in modifying the form and content of a mediated environment with the immediate feedback and it creates the most prominent shopping surrounding for learning product information. Additionally, with the enhanced learning opportunities, VR furnishing online shoppers with practical product experience. According to the report analysis, ‘Furniture Industry Research and Market Reports’ states that the VR technology initially encourage Web site engagement and thus constructs continuing relationships between online retailers and its customers. Furthermore, VR allows not only close inspection of an individual item but also visual inspection of how furniture items coordinate, which is difficult in physical stores. VR offers unlimited choices without the temporal and physical constraints of a brick-and-mortar store, along with the potential of finding choices that shopper want. The many companies are doing significant development in the applications of VR which lead to a significant increase in the industry of furniture.

The usage of VR is very much done in the both developed and developing countries as VR offers shoppers realistic product experience, with the selective product according to individual tastes which involves actual visualization of several furniture combinations. The market of VR in furniture industry is majorly dominating by the North America and Europe whereas; the Asia Pacific region is also doing so many innovations for acquiring a handsome amount of share in this market. IKEA (Swedish Furniture Company) and Lowe’s (North America home Improvement Company) are the major players of this market and providing better consumer experience.  Moreover, Microsoft, Electrolux, Panasonic and others are the major players of this market and welcoming the new investors which support the market and build ecommerce for VR. Therefore, it is expected that in the coming years the technology of VR in the furniture industry will grow more significantly over the decades.

For more information, click on the link below:

https://www.kenresearch.com/tag/consumer-products-and-retail/furniture/25.html

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91 9015378249