Vietnam Lubricants Market Outlook to 2023: Ken Research

The report titled “Vietnam Lubricants Market Outlook to 2023 - By Grade (Mineral, Semi-Synthetic and Synthetic Lubricants), By Application (Automotive and Industrial) By Type of Automotive and Industrial Lubricants, By End User of Automotive and Industrial Lubricants End User, and By Distribution Channel of Automotive and Industrial Lubricants” provides information on overview of the lubricants market in Vietnam, Vietnam lubricants market size by revenue and by sales volume, Vietnam lubricants market segmentation by grade (mineral, semi-synthetic and synthetic lubricants), by application (automotive and industrial) by type of automotive lubricant (heavy duty diesel engine oil, motorcycle oil, passenger car motor oil, hydraulic oil, gear oil and greases), by automotive end user (commercial vehicles, motorcycles, passenger cars and marine vessels), by automotive distribution channel (dealer and distributor network, OEM workshops and service stations and supermarket and online retail), by industrial type (hydraulic oil, metal cutting fluid, industrial gear oil, industrial grease, turbine oil, transformer oil, compressor oil and others), by industrial end user (manufacturing, steel projects, construction, power generation and others), by industrial distribution channel (direct sales and dealer and distributor network). The report also covers value chain analysis, competition landscape, trends and developments, issues and challenges, end user analysis and government regulations pertaining to lubricants market in Vietnam. The report concludes with future outlook of lubricants in Vietnam and certain recommendations highlighting the success factors for entering and expanding in the market.

Vietnam Lubricants Market Overview and Size

The lubricants market in Vietnam was witnessed to be growing at a steady rate both in terms of sales volume and revenue owing to rapid industrialization and growth in vehicle sales across the country. Importing majority of its base oil for blending lubricants, Vietnam market lacks refining capabilities, although there is significant presence of blending plants for lubricants. Mineral lubricants registered the highest popularity among all three grades of lubricants, courtesy their low retail price.

Vietnam Lubricants Market Segmentation

By Origin (Mineral, Semi-Synthetic and Synthetic Lubricants)

Mineral based lubricants dominated the market with a leading share in the overall lubricant sales in the year 2018. Higher grade lubricants which are Semi-Synthetic and Synthetic grew their popularity during the period 2013-2018 due to the growing awareness among end users and the growing demand for superior quality.

By Application (Automotive and Industrial)

Automotive lubricants had a greater presence in Vietnam, holding a leading share out of the sales volume in the year 2018. Motorcycles and commercial vehicles were the dominant category in the automotive lubricants segment, while Heavy Duty Diesel Engine Oil and Motorcycle Oil were the leading types. Distribution of automotive lubricants took place primarily through dealer and distributor networks of lubricant companies in the market. On the other hand, industrial lubricant growth was driven by the end users in the manufacturing and steel sector in Vietnam.

By Automotive Lubricant type (Heavy Duty Diesel Engine Oil, Motorcycle Oil, Passenger Car Motor Oil, Hydraulic Oil, Gear Oil and Greases)

Heavy Duty Diesel Engine Oil held a leading share in the automotive lubricant sales in Vietnam in the year 2018. High lubricant volume utilized in commercial vehicles and a high frequency of lubricant change ensured the dominance of Heavy Duty Diesel Engine Oil and a large circulation of motorcycles catapulted the share of motorcycle oil to the second highest in the market.

By Automotive End User (Commercial Vehicles, Motorcycles, Passenger Cars and Marine Vessels)

Commercial vehicles and Motorcycles led the market for the end users in the automotive lubricant segment. Passenger Cars held a low share due to the lower motorization rate in Vietnam and the high preference of motorcycles over cars as modes of passenger transport.

By Automotive Distribution Channel (Dealer and Distributor network, OEM Workshops and Service Stations and Supermarket and Online Retail)

Dealer and Distributor Network held the leading share in the distribution channels for automotive lubricant in Vietnam. The share of supermarkets and online retail is low due to the low trust level attributed and relatively new status of these modes of distribution.

By Industrial Type (Hydraulic Oil, Metal Cutting Fluid, Industrial Gear Oil, Industrial Grease, Turbine Oil, Transformer Oil, Compressor Oil and Others)

Hydraulic Oil segment lead the market of Industrial Lubricants in Vietnam in the year 2018. The segment earned a high share accruing to their indispensability in varied industrial uses and applications. In addition, Metal Cutting Fluid was the second largest type, with hydraulic oils.

By Industrial End User (Manufacturing, Steel Projects, Construction, Power Generation and Others)

Manufacturing industry which includes auto parts, paper, chemicals, food processing and electric appliances held the largest share out of the industrial lubricant sales in the year 2018 in Vietnam. In addition, Steel projects held the second largest share in end users of industrial lubricants in Vietnam.

By Industrial Distribution Channel (Direct Sales and Dealer and Distributor Network)

Direct Sales dominated the distribution channels of industrial lubricant in Vietnam in the year 2018. Preferring to sign long term contracts with lubricant providers, industrial players generally prefer the direct sales avenue to reduce margins and middlemen.

Competitive Landscape in Vietnam Lubricants Market

Competition stage in the Vietnam Lubricants Market was observed to be moderately concentrated in the year 2018. The market contains an amalgamation of foreign and local firms with foreign firms dominating the market, holding more than half of the share in the market as of 2018. The market is led by Castrol BP Petco, a joint venture of English petroleum giant BP and local company Petrolimex in terms of sales volume. Other major players of the market include PLC (Petrolimex Petrochemical Corporation), Shell, Total, Chevron and Mekong Lubricants. Competition driving factors in the market include lubricant price, distribution network and brand reputation.

Vietnam Lubricants Market Future Outlook and Projections

The lubricants market in Vietnam is expected to grow at a steady rate with Sales Volume of lubricants forecasted to grow at a healthy rate year on year over till the year 2023. Growth is expected to be driven by increasing automotive sales with passenger car sales and commercial vehicle sales expected to rise. However, the growth in sale of motorcycles is expected to stabilize accruing to the ban on motorcycles in Hanoi, projected to be implemented full till 2030. The forecast for Industrial Lubricant growth in Vietnam is positive, with inflow of steel projects, rise in manufacturing projects and increasing power generation abilities expected to elevate the share of industrial lubricants in the overall lubricant sales volume by 2023. Semi-Synthetic and Synthetic grades are expected to gain prominence and favor among the consumer segment of the market owing to demand for superior quality and increasing lubricant quality standard awareness among consumers. Their combined share is expected to rise by 2023.

Key Segments Covered:-

By Grade

Mineral based Lubricants

Semi-Synthetic Lubricants

Synthetic Lubricants

By Application

Automotive Lubricants

Industrial Lubricants

By Automotive Lubricant Type

Heavy Duty Diesel Engine Oil

Motorcycle Oil

Passenger Car Motor Oil

Hydraulic Oil

Gear Oil

Greases

By Automotive Lubricant End User

Commercial Vehicles

Motorcycles

Passenger Cars

Marine Vessels

By Automotive Lubricant Distribution Channel

Dealer and Distributor Network

OEM Workshops and Service Stations

Supermarket and Online Retail

By Industrial Lubricant Type

Hydraulic Oil

Metal Cutting Fluid

Industrial Gear Oil

Industrial Grease

Turbine Oil

Transformer Oil

Compressor Oil

Others (Anti Rust Oil and Cleaner Oil)

By Industrial Lubricant End User

Manufacturing

Steel Projects

Construction

Power Generation

Others (Textiles, Chemicals and Auto Parts primarily)

By Industrial Lubricant Distribution Channel

Direct Sales

Dealer and Distributor Network

Key Target Audience:-

Auto And Auto Component Manufacturers

Manufacturing Companies

Steel Production Companies

Metal Working Companies

Auto And Auto Component Manufacturers

Construction Companies

Textile Companies

Cement Companies

Mining Companies

Power Generation Companies

Food & Beverage Companies

Petroleum and Lubricant Associations

Time Period Captured in the Report:-

Historical Period – 2013-2018

Forecast Period – 2018-2023E

Companies Covered:-

Castrol BP Petco

Petrolimex Petrochemical Corporation (PLC)

Shell Vietnam

Chevron

Total

Mekong Lubricants

Idemitsu Lube Vietnam

JX Nippon Oil and Energy

ExxonMobil

Vilube Motul

Valvoline

Honda

Yamaha Lube

Sinopec

Key Topics Covered in the Report:-

Value Chain in Vietnam Lubricants Market

Vietnam Lubricants Market Genesis and Overview

Stakeholders in Vietnam Lubricants Market

Vietnam Lubricants Market Size, 2013-2018

Vietnam Lubricants Market Segmentation, 2018

Regulatory Landscape in Vietnam Lubricants Market

End User Analysis in Vietnam Lubricants Market

Trends and Developments in Vietnam Lubricants Market

Issues and Challenges in Vietnam Lubricants Market

Porter’s Five Forces Analysis of Competition in Vietnam Lubricants Market

Competitive Landscape in Vietnam Lubricants Market

Company Profiles of Major Players in Vietnam Lubricants Market

Product Portfolio of Major Players in Vietnam Lubricants Market

Vietnam Lubricants Market Future Outlook and Projections, 2018-2023E

Analyst Recommendation for Vietnam Lubricants Market

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

Vietnam Lubricants Market

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Rise in Demand for Explosives in Defense Industry Expected to Drive World 99.8% Potaium Chlorate Market over the Forecast Period: Ken Research

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99.8% potassium chlorate is a white crystalline or powder high-purity potassium chlorate substance. Its molecular formula is KClO3. It generally occurs as a white color or colorless, water-soluble and crystalline solid. It is a strong oxidant and reacts easily with carbon, phosphorous, sulfur, and organic compounds. It is insoluble in water. It is produced commercially by passing chlorine into hot milk of lime and consequently adding potassium chloride. Furthermore, it can be manufactured in small quantities by passing chlorine gas into the hot solution of caustic potash. It is used as an ingredient in smoke compositions for instance smoke grenades. It is also used in educational institutions and laboratories to generate oxygen gas. It is used as a pesticide owing to its weed killer applications. It is used in chemical oxygen generators which are used as oxygen supply systems of aircraft, space stations, and submarines. It displays effective antimicrobial properties due to its chemical nature. Potassium chlorate is used in making potent disinfectants and used to treat drinking water from pathogens. In addition, it is used as a basic raw material for safety match work industries and as a whitening agent in the textile industry. Furthermore, it can be mixed with an appropriate fuel to form a short-tempered material called sprengel explosive.

According to study, “World 99.8% Potaium Chlorate Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world 99.8% potaium chlorate market are Akzo Nobel, Vaighai Agro, First Chemical, Hua'nan Inorganic Salt, Dow Chemical, Mitsubishi Chemical, E. I. du Pont de Nemours and Company, TCI Chemicals, ChemTik, Target Molecule Corp, AA BLOCKS, TimTec, AK Scientific (AKSCI), Sigma-Aldrich, APIChem-Research Chemicals BASF SE, LG Chem, Mitsui Chemicals, Sumitomo Chemical,    Eastman Chemical Company, Toray Industries, Evonik Industries. Key manufacturers are adopting eco-friendly technologies to increase their production efficiency.

Based on type, 99.8% potaium chlorate market is segmented into 98% and 99%. Based on method type, market is segmented into electrolytic method and double decomposition method. Based on application, market is segmented into disinfectants, explosives, bleaches, medical, match and others. In addition, based on end-use, market is segmented into pharmacy industry, manufacture industry and food industry.

The 99.8% potaium chlorate market is driven by rise in use of potassium chlorate-based pesticides, followed by increase in demand for explosives in the defense industry, rise in number of sodium chlorate plants, increase in availability of raw materials, growth in demand from pulp & paper industry, increase in production of matchsticks, rise in end user industries, and reduction in arable land. However, strict government regulations, health hazards associated with potassium chlorate and availability of substitutes may impact the market.  Moreover, increase in number of sodium chlorate plants is a key trend for market.

Based on geography, USA country holds major share in 99.8% potaium chlorate market owing to rise in environmental concerns in the country. Europe, China & India are expected to witness higher growth rate due to growth of defense & pesticide industries and rise in population over the forecast period. It is anticipated that future of the market will be bright on account of rapid economic growth and rise in pesticide industries during the forecast period.

For more information, click on the link below:

World 99.8% Potaium Chlorate Market

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Myanmar Express Courier and Parcel Market Outlook to 2023 - Ken Research

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HOW MYANMAR EXPRESS LOGISTICS MARKET EVOLVED?

The political turmoil in Myanmar has long been a degrading factor for the country’s trade and logistics facilitation. In a lot of ways, 2011 was the year Myanmar’s economy opened up to the rest of the world when the new democratic government came to power. Foreign investment has since then been steadily coming in and international companies are looking at Myanmar as a potential growth market. The total amount of FDI in Myanmar reached USD ~ billion in 2018.

The Myanmar Express Logistics Market was valued at USD ~ million in the year 2013, while at present the market is valued at USD ~ million with a CAGR of ~% during the review period. A key driver behind the recent growth in Myanmar’s Express Logistics Market is the strategic location of Myanmar as a gateway between India and ASEAN countries, along with availability of abundant natural resources and cheap labor.

E-Commerce also plays a major role in today’s express logistics market in Myanmar, mainly for domestic shipments.

The recent and gradual liberalization of delivery services through partnership with third party logistics provides–after decades of strict monopoly by Myanmar Post for mail and small parcels–have enabled the development of a small e-commerce logistics market, primarily in urban regions of Yangon and Mandalay.

Myanmar ranked 126th out of 170 countries in the 2016 Integrated Index for Postal Development by the Universal Postal Union (UPU), which is now supporting Myanmar Post to aid its development and digitalization process. Myanmar Post and Telecommunications is also getting support from Japan’s Ministry of Internal Affairs and Communications for the modernization of postal services.

MYANMAR EXPRESS LOGISTICS MARKET SEGMENTATION

Revenue by Type of Service

The major segments of express logistics in Myanmar include mails and documents, e-commerce parcels, express cargo and express cold chain, with a share of ~%, ~%, ~% and ~% respectively. Express cargo dominates the market in term of revenue, mainly due to prosperous Manufacturing Sector which contributes a share of ~ % to the GDP and also the increasing volumes of foreign trade, FMCG and Retail Sector.

Number of Shipments by Domestic and International Shipments

Annual number of shipments of mails and documents in Myanmar is ~, out of which ~% are domestic and ~% are international. Annual number of shipments of e-commerce parcels in Myanmar is ~, out of which ~% are domestic and ~% are international.

Number of Shipments by Air and Road Express

Annual number of shipments of mails and documents in Myanmar is ~, out of which ~% are through air express and ~% are through road express. Annual number of shipments of e-commerce parcels in Myanmar is ~, out of which ~% are through air express and ~% are through road express.

COMPETIVE SCENARIO IN MYANMAR EXPRESS LOGISTICS MARKET

The Express Logistics market in Myanmar is at the nascent growth stage. DHL is the leading international player due to reliability and guarantee of delivery, whereas Royal Express is the leading domestic player. Since EMS is a subsidiary of Myanmar Post it has the widest network of post offices and address database. Due to this reason delivery in rural areas is done mainly through EMS. While the major e-commerce players have logistics partners, the local merchants deliver their packages through unlicensed small delivery service providers or express buses that do not provide guarantee of delivery. This situation is expected to change with the privatization of Myanmar Post and development of postal services.

MYANMAR EXPRESS LOGISTICS FUTURE OUTLOOK AND PROJECTIONS

The government has announced around ~ designated planned transport projects for road, rail, sea and air transport facilities. They are drafting new sets of laws pertaining to telecommunications, e-commerce and cyber security, expected to be aligned with the recent ASEAN E-Commerce Agreement signed in November 2018. The agreement is aimed at facilitating cross border e-commerce transactions. Total cargo volume in 2030 is projected to reach ~ million tons and trade cargo to increase at ~ %. The thriving F&B industry in Myanmar will be the leading growth factor for growth of cold chain in the country by 2030, accounting for ~% of household expenditure. Major corporations, especially consumer goods manufacturers, from the US, Europe as well as Asia have announced their intention to return to Myanmar or, to invest for the first time. All these developments, backed by foreign investment and booming e-commerce sector, are bound to increase the future market size of Express Logistics at a double digit CAGR.

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Myanmar Courier, Express and Parcel

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Increasing Demand of the Umbrella Globally Market Outlook: Ken Research

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An umbrella is a compact canopy sustained by the wooden or metal ribs, which is frequently mounted on a wooden, metal, or plastic pole. It is designed to safeguard an individual against rain or sunlight. The term umbrella is conventionally utilized when safeguarding oneself from rain, with the umbrella utilized when safeguarding oneself from the sunlight, though the terms continue to be utilized interchangeably. Additionally, the umbrella canopies may be generated of fabric or flexible plastic. The umbrellas are generally hand-held portable devices sized for the individual usage. The principal hand-portable umbrellas are golf umbrellas.

Not only has this, the umbrellas can be segmented into two major categories such as fully collapsible umbrellas, in which the pole of metal assisting the canopy retracts, generating the umbrella small enough to fit in a handbag, and non-collapsible umbrellas, in which the assist of pole cannot withdraw and only the canopy can be malformed. According to the report analysis, ‘Global Umbrella Market (2018-2023)’ states that in the global umbrella market there are numerous key players which recently functioning more significantly for leading the fastest market growth and dominating the highest value of market share around the globe throughout the short span of time while developing the specifications of the product, increasing the productivity of the product, decreasing the price of the product and advancing the production technologies includes Blunt Umbrellas, Zhejiang Haizhou Umbrella Limited Company, Swaine Adeney Brigg, RainStoppers Umbrellas, Zhejiang Hongye Umbrella, James Smith & Sons Ltd., Fox Umbrellas, Hangzhou Paradise Umbrella, Aisin Seiko Co., Mobileye and several others.

The global umbrella market is estimated to enlarge at a compound annual growth rate (CAGR) of 1.72%, reaching USD 7,122.91 Mn by 2023. Indeterminate weather conditions, sophisticated incidence of skin cancer, and the acceptance of designer umbrellas which are recommended or utilized by celebrities, are some of the key aspects propelling the growth of the market.

Additionally based on the product types, the umbrella market is classified into two fold, three fold or more, walking stick umbrellas, garden umbrellas, and several others. Umbrellas having three or more folds are registering the global market, principally owing to their convenience and ease of usage. However, the North American umbrella market earns partial of its revenue from the garden alternatives, since their usage is not constrained to just gardens, but encompasses to commercial spaces as well.

Whereas, on the basis of distributional channel, the umbrella market is sectored into offline and online methods. The offline channel registers the global market. In North America, the offline distribution channel effectively dominated for a market share of ~91.5% in 2017.

China has been the principal exporter of the umbrellas for a while, and its share in the global market is augmenting. In 2000, mainland China controlled a global market share of 52.3%, which effectively augmented to 87.7% in 2017. The North American and European regions were the uppermost importers of umbrellas in 2017. In Europe, Germany registers for the maximum amount of foreign trade in umbrellas. Therefore, in the coming years, it is anticipated that the market of umbrella will increase around the globe over the coming years.

For more information, click on the link below:

Global Umbrella Market

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Ankur Gupta, Head Marketing & Communications

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Saudi Arabia Cards and Payments Market Analysis and Forecast: Ken Research

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HOW SAUDI ARABIA CARDS AND PAYMENTS MARKET IS POSITIONED?

Saudi Arabia cards and payment services market which has been dominated by cash witnessed advancement towards digital transactions both in terms of number of transactions and volume in the recent years. Saudi Arabia has gradually invested in the service sector to reduce the high reliance on oil.

Saudi Arabia is making huge investments in digital technology in order to transform the financial industry. Consumers now are more digitalised and technology-oriented and are moving towards mobile and online payments. Also, the mobile and online payments have also been the priority of Saudi Arabia’s government and the financial entities who seek consumer satisfaction.

The total number of cards in circulation was witnessed to increase from ~ as of 31st December 2013 to ~ as of 31st December 2018, thus displaying a five year CAGR of ~%.

The increase in online shopping in Saudi Arabia has made the country an intensely lucrative market to invest in. The investment in e-commerce will also drive the change in the way payments are made online.

Banks in Saudi Arabia have started offering Islamic credit cards which have shariah compliance, so as to attract citizens. This has provided a much needed boost to the use of credit cards in Saudi Arabia as Islam forbids the receipt or payment of interest.

HOW IS SARIE MARKET IN SAUDI ARABIA POSITIONED?

SARIE commenced in Saudi Arabia in May 1997 and provides mechanism for all Saudi commercial banks to make and settle payments in Saudi Riyals (SAR). SARIE provides the basis for improved banking products and services and is the foundation for the payment system strategy of Saudi Arabia. The usage of SARIE system has been steadily growing with the number of transactions increasing at a CAGR of ~% from 2012 to 2018.

SARIE MARKET SEGMENTATION

By Type of Transactions (Customer Payments, Interbank Payments and Others: The customer payments dominated the SARIE market with a share of ~% in terms of number of transactions in 2018. However, interbank payments dominated the SARIE market in terms of revenue generated with a share of ~% in the year 2018.Most of the large value transactions take place through banks, similar to RTGS. Also the transaction for allocation of loans and its payment is also done via SARIE.  Therefore, the share of interbank payments in terms of volume is the highest through SARIE.

HOW IS PAPER CLEARING MARKET IN SAUDI ARABIA POSITIONED?

The Paper Clearing System (PCS) governs how all paper-based payment instruments, such as cheques work.  In Saudi Arabia all cheque clearings are operated by SAMA. The use of cheques have been decreasing at a negative CAGR of ~% from 2012 to 2018 primarily due to the increasing use of internet by population of Saudi Arabia, leading to increased use of electronic payment methods such as SARIE, SPAN (ATM and POS) and SADAD.

PAPER CLEARING MARKET SEGMENTATION

By Type (Commercial & Personal Cheques and Interbank Cheques), 2012-2018:

The commercial and personal cheques accounted for ~% volume share of the total cheques drawn in 2018. The average value per transaction of a commercial and personal cheque is around SAR ~ in 2018. Interbank cheques accounted for ~% volume share of the total cheques drawn in 2018. The average value per transaction of an interbank cheque is around SAR ~ in 2018. About ~% of the cheques are deposited by the customer at the branch of the paying bank and therefore are not involved in the interbank clearings.

By Regions, 2018: Approximately ~% by number of transactions and ~% by transaction volume of all the clearing house items are processed in the three regions. Riyadh has the highest number of transactions in terms of number as well as the volume because Riyadh being the capital city of Saudi Arabia has the highest number of bank branches among all the cities of Saudi Arabia.  Jeddah is Saudi Arabia’s commercial capital and the city also has a lot of industries, therefore the volume of paper clearing transaction is more in the region.

PENALTY FOR BOUNCED CHEQUES

Issuing a bad cheque is a crime in Saudi Arabia. Article 118 of the law of commercial paper states that:

An imprisonment sentence for a term not more than ~ years and a fine not exceeding SAR ~ or either of these two penalties shall be served by a person, who in bad intentions commits any of the following acts:

·         If he issues a retractable check which has no current cashable payment consideration or when it has a consideration but its value is less than the amount mentioned in the cheque. If he regains, after issuing the check, all or some of the consideration in such a way that the remaining amount is not sufficient for the check value.

·         If he tells the drawee not to cash the check.

·         If he deliberately writes the check or signs it in such a way that prevents it from being cashed.

·         If he endorses or signs for a third party a payable check, despite knowing that it does not have consideration sufficient for the check value or it is not cashable.

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Saudi Arabia Cards and Payments Market

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Landscape of the North America Edge Computing Market Outlook: Ken Research

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The edge computing is a groundbreaking approach to enhance the cloud computing systems. It principally refers to the technologies allowing the computation to be functioned at the edge of the connection. These services are functioned on the downstream data on behalf of the cloud services and upstream, data on behalf of IoT services. The edge computing is accountable for bring into line data acquisition a hold functions, stowing of great bandwidth content, and applications nearer to the end user. The edge sites are positioned as close as possible to the end users namely as a logical endpoint of a connection as portion of a more widespread cloud computing architecture.

Additionally, the increasing proliferation of the Internet of Things (IoT) and growing security concerns at public places are fueling the market growth. The IoT technological trend is predicted to attain the great requirement in the near years, considering the corporate’s initiatives for the digital transformation. The fast growth and growing implementation of IoT within corporations are predicted to assist the edge computing market. According to the report analysis, ‘North America Edge Computing Market (2018-2023)’ states that in the North America Edge Computing market, there are several key players which presently working more enormously for leading the fastest market growth and dominating the high value of market share during the short span of time while increasing the applications, decreasing the price of the services, depleting the issues related to the privacy, providing the better consumer satisfaction and spreading the awareness includes Cisco system, Microsoft Corporation, IBM, Google, Amazon and several others.

The North America edge computing market is proficiently predicted to reach USD 2.43 Bn by 2023, extending at a handsome CAGR of 28.7%. Edge computing brings data processing quicker to IoT sensors to deduct the latency and improve efficiency. 

However, on the basis of geography, the market is sectored into the United States and Canada. The U.S. would protected the uppermost market owing to it has leveraged the optimization of the digital infrastructure. This emerging technology has increased transaction because of the restriction of cloud-based analytics systems.

Meanwhile, the decisive challenges faced by this economy is deficiency of skill, understanding, several issues with the standardisation and implementation of the network. This emerging technology is incrustation the problem of deployment, i.e. challenging to heighten the spectrum usage. Whereas, the internet of things is trending in North America region. With more IoT devices getting linked, the region's market has seen bigger implementation of the edge computing solutions across all the verticals. The occurrence of the connectivity networks will act as an effectively fostering the factor to facilitate the embracing of edge computing.

The middling number of digital devices obtainable to the citizen is growing exponentially. Individual are better linked with heightened access to brand and content. The gaming and e-commerce markets are prosperous in this economy. This would widen the opportunity of edge computing. Therefore, in the near years, it is anticipated that the market of edge computing will increase more positively over the coming years.

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North America Edge Computing Market

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Ken Research                                   

Ankur Gupta, Head Marketing & Communications

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+91 9015378249