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Whereas Ken Research is a functional aggregator and issuer of market intelligence, equity and economy reports transversely over the globe. We aggressively acclaim the business intelligence and well-designed recommendations in more than 300 verticals underscoring disruptive technologies, progressing the business models with the precedent analysis and achievement case studies.

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KSA Cybersecurity Market Has Been Experiencing Massive Growth, Owing to Global Pandemic, Government Initiatives & Others

 

1. KSA Cybersecurity Market experienced a massive uptick, growing at a CAGR of 18.9% as a result of Government initiatives & Global Pandemic among other factors

The Y-o-Y growth in the period between 2019-23 has experienced a massive upsurge attributed to the advent of the global pandemic. A major reason behind this was the WFH set-up that was promoted for a while therby increasing the requirement of cybersecurity measures to be implemented. Furthermore, given the serious nature of cyberattacks being carried out towards a number of sectors, the government has been implementing stringent regulations such as ECC & Cybersecurity framework to shield the sensitive data of various companies. All in all, cybersecurity market in KSA is growing at a steady rate.

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2.KSA’s  Cybersecurity Market requires a shift from being product centric to  consumer centric for it to tackle various market restraints which the end users face

• Threat of New Entrants: There’s a high theat of new Entrants attributed to the non-existence of entry barriers . Moreover, rapid technological advancements & lucrative nature of the market serve as magnets for budding start-ups.
• Bargaining power of buyer: There’s a high bargaining power available to consumers as a result of various domestic & international players operating in the eco-system ultimately lowering the overal costs for the end user.
• Competition Rivalry: The Cybersecurity market in KSA is highly fragmented with various players competing for the top spot in the market on the basis of price & maintenance fee, services & solutions provided & brand image.
• Bargaining power of Suppliers: The scenario is not at the side of suppliers when it comes to their bargaining power owing to the cut-throat competition between several players operating in the ecosystem simultaneously.
• Substitute Products: Lack of differentiation of services & solutions leads to lower threat of substitution in the existing market.

3. Expansion of internet and 5G services, increasing demand for big data and acceleration towards digital transformation are the major developments in the KSA Cybersecurity Market

• Increasing demand for Big Data: Big data adoption by enterprises and businesses in recent times creates a challenge to security information and event management (SIEM) as there is chunk of data being generated by the web, email, and social media applications. Therefore, these enterprises are looking to implement strong cybersecurity measures, which will result in the growth of this market in coming years.
• Acceleration towards digital transformation: At LEAP 2022 in Saudi Arabia, the largest tech event in the country, investments of over USD 6.4 Bn was announced in future technologies and entrepreneurship. Massive investment in technological innovation serve as a major catalyst for the cybersecurity market in KSA.
• Growing Healthcare Industry: Healthcare cyber security firms in Saudi Arabia provide healthcare institutions with cyber security services and solutions to secure their hospitals and patient information from data breaches and cyber-attacks. Healthcare is an attractive target for cybercriminals as medical data is between ten and twenty times more lucrative than credit card or banking details. Therefore, the growth in healthcare industry subsequently contributed in accelerating the cybersecurity market in Saudi Arabia.

Charging infrastructure in India is currently quite under-developed but has huge potential in the near future owing to increasing EV deployment in the country: Ken Research

 1. Infrastructure for EV charging has been gaining pace in recent times, owing to increasing EV adoption, especially in Metro cities.

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EV charger demand in India witnessed an increase this year owing to tenders announced by PSUs, which put together amounts to about 6,000 charging stations by 2023. Attractive capital subsidy are provided by state government for deployment of limited number of fast and slow EV chargers.

Low utilization rate of public charging stations has been identified as deterring investor and charge point operators in expanding their fleets. However, with increased EV usage by commercial fleet operators and private buyers, the utilization rates are expected to increase in the coming years.

2. E Rickshaws, E Autos, and E 2Ws are the most promising segments for electrification in India and are expected to account for more than 4 million units by 2025

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Electrification in India will be primarily driven by Government incentives (FAME II) and state Government’s push for cleaner fuels. There is a growing need for clean and shared transportation. Therefore stringent emission norms with higher cost of compliance (internal combustion engines) are being apprehended. With newer business models lowering operational cost of EV’s the future is fulfilling for EV business.

3. While public entities are holding a major share in the market, private companies and new entrants are also doing exceptionally well.

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It is anticipated that the bulk of private E-4W charging would be from home chargers while the commercial E-4W would prefer public charging, thereby generating maximum revenue share. Players in the market are covering a wide spectrum of vehicles, while providing charging units in different capacities and great customer experience. There are regional and national players namely – Volttic, Charge+Zone, TATA Power, Fortum, EESL, EVI Technologies. The dominant player in the market namely EESL has the highest no. of charging stations and also charging stations to mid-segment companies like EVI Technologies.

South Korea E-commerce Logistics Market Revenue Growth is expected to grow at a CAGR Of 4.7% during 2021 to 2026F: Ken Research

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 1. South Korea E-commerce Logistics Market is expected to grow by 2026F driven by increasing internet penetration and improved logistics services among the players.

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South Korea has an internet penetration rate of 92.2% in 2021, with 47.3 Mn users. The government has made other preferential policies such as a preferential charge for the use of public facilities by logistics enterprises. The young population in South Korea is spending on an average 5H 29M every day using the Internet, resulting in a higher number of orders. Also, the advent of players offering last-mile delivery options has allowed retailers to improve e-com logistics to support growth and scale.

2. Initiatives by the Government of South Korea to strengthen the market also provide protection to consumers against e-commerce logistics frauds.

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• Korean government encourages cross-border e-commerce by simplifying and expediting customs procedures which allow Korean consumers to benefit from low-priced goods from overseas.
• The government announced the ‘National Logistics Basic Plan (2021-2030)’ on July 1, 2021, as a new blueprint for the development of the logistics industry in the coming decade in a rapidly and drastically changing logistics environment in the post-COVID-19 era.
• In 2002, the e-commerce consumer protection act was enacted to protect the rights and interests of consumers by prescribing matters relating to the fair trade of goods or services by means of e-commerce transactions.
• E-commerce Mediation Committee was established for solving disputes from e-commerce between consumers and e-commerce providers, and between e-commerce partners including payments, delivery and services provided by telecom companies.

3. Rapid aging population and fraudulent purchases are some of the challenges for the E-commerce Logistics sector in South Korea.

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• Rapidly ageing population (median age 42.6) & extremely low fertility rate (0.96) – hence lack of qualified workforce in the warehouse space.
• The pollution added by the transport vehicles due to increased vehicular traffic on the roads is a challenge for logistics companies.
• Fraudulent purchases or cash-on-delivery transactions increase online retailers' concerns because customers may reject their purchases, resulting in revenue loss for the companies.

Growth in demand for Bio-Lubricants and Major Share of Passenger Vehicle Lubricant Will boost the Thailand Lubricant Market

 

1.  Thailand lubricant market grew at a robust CAGR of in the period 2016-2021, generating very high revenue in 2021

Increasing demand for bio-lubricants is expected to drive the Thailand Lubricants Market in forthcoming years owing to continuous growth in the manufacturing sector along with the blooming metals & mining industry. Government initiatives such as emergence of EVs and B10 Diesel towards promoting bio-lubricants and other oil regulations will further drive the market further extending its reliability.

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2. Automotive Lubricants are expected to dominate the market share in 2026F; whereas mineral grade lubricant is expected to be preferred type of lubricant in Thailand.

Oil demand is expected to continue to expand over the period 2022-2026F in Thailand to fulfill the consumption requirements of both industrial and automotive sectors by processing mineral oils into semi-synthetic and synthetic oils. The market is expected to witness enhancing use of synthetic lubricants over long term, due to the growing awareness of people to switch to better quality lube oils for long term protection of the engines.

3. The Thailand Lubricants Market is expected to showcase positive outlook, owing to the rising demand of lubricants and expansion of market players in upcoming years.

The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country. Majority of the automotive lubricants were consumed through Dealer network, where consumers can purchase the lubricants for their vehicles. Lubricant market players such as Castrol and Exonmobil sell oils either through their online platforms or through an e-commerce player like Alibaba.com and Shopee operating in Thailand. Hence the demand for online platforms have generated more sales in comparison to the supermarkets and hypermarkets channel.

Thailand E-Commerce Orders and Deliveries Are Growing At A CAGR Of 9.5% between 2021-2026F: Ken Research

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1. Thailand's E-commerce Shipments Market has witnessed a Strong Growth Trajectory Backed by Competitive Technological Advancements, generating revenue of $ 801.2 Mn in 2021 and with a growing CAGR of 8.3% over the period 2017-2021.

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Thailand e-commerce logistics growing year on year majorly due to rising E-retailing coupled with an increase in the number of online orders. Expansion in internet services coupled with increasing demand for online logistics services has collectively given a boost to the development of E-commerce logistics industry in Thailand. Traditional brick & mortar retailers have been enthusiastic adopters of e-commerce payments, instead of taking an adversarial position.

2. Fear of getting scammed is the major reason preventing people to shop Online in Thailand: a majority of Thais shop online at a frequency of once or twice a month

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Thai consumers generally have a positive attitude towards being connected to the online world. When it comes to consumer safety and privacy, 34.5% of Thai consumers regularly change their passwords and trust in two-factor authentication and OTP (One-Time-Pin) password options. Despite the promising numbers, the average Thai only shops online only once or twice a month, largely due to the fear of fraud. However, as e-marketplaces and sellers gain the trust of users by improving their online experiences and knocking down shopping barriers, it is expected the number of online transactions to improve steadily.

Digitalization, Modern Technologies, and Farm Mechanization will Boost Used Tractor Market in Indonesia: Ken Research

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1. Indonesia Used Tractor Market is expected to grow at a CAGR of 5% by 2027F owing to Increased Digitalization and Farm Mechanization.

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With increasing digitalization and the inclusion of modern technologies, an expansion of sales and marketing through online media can be adopted by the companies which eventually helps the market grow. Increased Farm Mechanization can help sustain national food production and maintain labour efficiency.

2. Culmination of small land holdings has resulted in a surge in the overall farm holding size in Indonesia thus, giving a boost to the Used Tractors Demand from the Agriculture sector.

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The level of mechanization with respect to transplanting is low as farmers prefer to engage in manual methods of transplanting as this involves a low cost of labour. In the future, it is anticipated that the share of used tractors above 30 HP is bound to grow due to heavy mechanization. Growth in the Construction sector will support demand for used tractors in Indonesia. The future growth in real estate complemented by expected growth in the Agricultural sector is envisaged to drive the demand.

3. Indonesia Used the Tractor Market to showcase Positive Outlook over Long Term as the Government is Pushing for Mechanized Farming Systems.

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The used tractor market in Indonesia is expected to grow at a positive but at a slow growth rate in immediate future due to global economic conditions and also as most of the tractors are imported the prices are sensitive to falling currency rates in 2022 and 2023 making the new and used imported tractors expensive. Later on, Sales will rise as the government is keen on the mechanization of agriculture. Also, agricultural produce especially rice is rising and the country has become almost self-sufficient and is keen to export the same in the coming future.

Thailand Dental Services Market is in Growing Stage Owing to The Ageing Population, Rising Dental Tourism and Government’s Initiatives in Healthcare: Ken Research

 1. Growing economy and Rising General Awareness among the locals is fueling the growth in Thailand Dental Services Market.

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Rising standard of living, growing urbanization and an expanding middle class are supporting the growth of dental clinics as well as increased expenditure on dental care services primarily for dental cosmetics and oral care products. Due to the rapid growth in its elderly population, Thailand is facing increased demand for quality dental services, specifically for more complicated dental procedures like implants.  A continuously growing economy is expected to affect the mindset in terms of health expenditure and drive people to focus on their oral health.

2. Anxiety among doctors and higher costs were some of the challenges faced by the Dental Services Market during the Covid-19

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Oral care routines deteriorated during the pandemic, with fewer people brushing their teeth twice a day compared to 2018 and the income of the Thai DCWs decreased dramatically, and DCWs experienced moderate to high level of anxiety concerning their own lives and their families’ lives. Despite the negative impacts of Covid-19, some positive developments have been accelerated as a result of the pandemic. These include harnessing the skills of all members of the dental team and remote consultation, like tele-dentistry, telemedicine, and the use of the Internet of Dental Things.

3. Thailand Dental Service market is expected to generate more revenue with a robust CAGR, owing to increasing dental tourism, accessibility and insurance coverage.

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The Kingdom of Thailand wants to stimulate its economy by becoming an international hub for medical and dental treatment. Government is launching a program to promote dental tourism of a one-price policy, under which Thai residents and foreign visitors will pay the same fees for dental procedures. A central database is being developed, as well as systems for functions such as processing payments and resolving disputes.

UAE Auto Finance Market is expected to grow at a CAGR of 17% between 2022F - 2026F: Ken Research

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1. Growing Digital Advancements and an increasing number of Finance Aggregators are driving UAE Auto Finance Industry

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57 million passenger cars are produced worldwide. Avg price per new car in FY21 is 25,000 USD. The industry is increasingly moving towards newer technology such as AI and ML to improve efficiency. A large number of people in the UAE are now preferring privately hired cars, leading to a potential increase in their financing in future. The UAE government is taking several positive steps to lessen the time taken in the approval process for loans in the market so as to provide consumers with convenient credits. Nearly 60% of UAE Consumers are planning to buy an affordable car in the near future.

2. Sales of vehicles dropped sharply in 2020 owing to the COVID-19 pandemic but ramped up in 2021 due to consumers preferring personal vehicles

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Before COVID-19, not a lot of UAE residents preferred personal vehicles. But with the outbreak of the pandemic, this proportion increased by a huge margin.

Non-performing loans also surged as consumers and businesses were unable to make loan/lease payments. A relatively larger number of people opted for deferred loan repayment Government Schemes. Car dealerships are expected to increasingly bring the experience of car shopping online in a range of ways such as providing digital showrooms as well as e-finance.

3. Lenders need to Re-imagine the Auto Lending Lifecycle to compete and succeed in the new digital era

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Customers have grown accustomed to digital information in other industries, such as telecom and banking products, and now they have also started their automotive buying journeys online. Everyone wants a quick and easy financing process and control over the experience, with the ability to search for specific monthly payments, get pre-approved online, and opt for electronic contracting. Today’s shoppers view an auto loan or lease simply as a method of payment and an automotive vehicle is a key product they are actually focused on. This is due to the ease in the process like cross-comparison of different available options, reduced legal formalities, etc.

Vietnam Cold Chain Market is expected to generate more than $ 600 Mn by 2026F owing to the growing demand by end users and technology upgradation: Ken Research

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• The cold storage sector in Vietnam is expected to grow with strong traction, likely driven by import and export orders for medicines and vaccines.
• Improved export trade and transportation agreements, global demand for Vietnamese seafood is expected to rise in the future boosting investment trends.
• With huge investment in cold storages and rising power prices & labor cost in the country along with rising automation and tech advancements in the country, storage cost is expected to increase in the future.

Technological Advancements:  The cold storage industry is experiencing a new wave of technological developments which are essential for end users of cold storage services and for the organic growth of cold storage companies. Technology like- Robotics and Automation, Automated Guided Vehicles (Agvs), Iot Implementation, Advanced Sortation Systems, Drones and Advanced Analytics are being used by cold chain companies to grow their business.

New Government Policies and projects supporting the growth of Cold Chain: The government prohibits vehicles older than 20 years to operate on road which negatively impacts the cold transport business. The trend is expected to continue as the cold storage business grows stronger which will result in a decreased revenue share for cold transport by the year ending 2026F. Projects like Ring Road 3 and 4, the highway to the Moc Bai Border Gate and Cai Mep Port project, Long Thanh International Airport, and Hiep Phuoc Port City will boost the development of the sector in the years to come in the Southern Key Economic Region (SKER).

Development of New Cold Storage Warehouses:  Many cold chain operators are expected to expand their operations and establish many new cold storage warehouses to cater to the large and rising demand for refrigerated storage, providing a significant boost to the Vietnam cold storage industry. The development of specialized logistics hubs and intermodal connections, is essential to boosting cold chain supply in the medium and long term.

Analysts at Ken Research in their latest publication “Vietnam Cold Chain Market Outlook to 2026F- Driven by Rising Meat and Seafood Consumption Owing to Growing Millennial Population Albeit Infrastructure Challenges” by Ken Research observed that Cold Chain market is an emergent transport and storage market in Vietnam at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand for cosmetic dentistry, demand among the population along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 14.8% CAGR during 2021-2026F owing to the rise in economy of the country, increasing consciousness towards looks and new government policies.

Key Segments Covered in the report

Vietnam Cold Chain Market

By End User

Meat and Seafood

Fruits and Vegetables

Dairy and Bakery

Vaccination and Pharmaceuticals

Others

By Ownership

3PL Cold Chain Facilities

Owned

Vietnam Cold Storage Market

By Temperature Range

Frozen

Chillers

Ambient

By Automation

Non-automated Pallets

Automated Pallets

By End User

Meat and Seafood

Fruits and Vegetables

Dairy and Bakery

Vaccination and Pharmaceuticals

Others

By Major Cities

Ho Chi Minh

Hanoi Capital

Binh Duong

Long An

Other

Vietnam Cold Transport Market

By Truck Type

Reefer Vans/Trucks

20-foot reefers

40-foot reefers and others

By Mode of Transportation

Land

Sea

Air

In Land Water ways

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By Location

International

Domestic

By Vicinity

Inter-city

Intra-city

By End User

Meat and Seafood

Fruits and Vegetables

Dairy and Bakery

Vaccination and Pharmaceuticals

Others

Key Target Audience:-

Cold Storage Companies

Cold Chain Companies

Cold Transport Companies

Captive Cold Storage Companies

Captive Cold Chain Companies

Logistics Companies

Non-captive Companies

Cold Chain Associations

Logistics Associations

Private Equity Firms

Venture Capitalists

Time Period Captured in the Report:-

Historical Period: 2016-2021

Base Year: 2021

Forecast Period: 2021-2026F

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Companies Covered:-

Lineage

Transimex

Hung Vuong Corporation

AJ Total Vietnam

Mekong Logistics

ARC Bing Duong

ABA Cooltrans

Emergent cold storage

SK Cold Storage

Lotte logistics

Konoike

Hong Lai Group

New Land Logistics

Thang Long Logistics

Crane Worldwide Logistics

ALS Avaition Logistics

Arctic Wolf

Vinafco

Key Topics Covered in the Report:-

Country Overview and Infrastructure Analysis of Vietnam

Vietnam Cold Chain Market Overview and Genesis

Vietnam Cold Chain Industry Supply Ecosystem

Business Cycle and Genesis of Vietnam Cold Chain Market

Vietnam Cold Chain Market, 2016-2021

Vietnam Cold Chain Market Segmentation (by Cold Storage and Cold Transport, by Ownership and by End Users)

Vietnam Cold Storage Market, 2016-2021

Vietnam Cold Storage Market Segmentation (by Automation, Temperature Range, by End Users and by region)

Vietnam Cold Transport Market Overview, 2016-2021

Vietnam Cold Transport Market Segmentation (by Type of Reefer Truck, by Mode of Transportation, by Location & Vicinity and by end users)

SWOT Analysis of Vietnam Cold Chain Market

Competition Scenario of Vietnam Cold Chain Market

Growth drivers of Vietnam Cold Chain Market

Technological Advancements in the Vietnam Cold Chain Market

Issues and Challenges in the Vietnam Cold Chain Market

Recent Trends in the Vietnam Cold Chain Market

End User Analysis of Vietnam Cold Chain Market

Future Outlook of Vietnam Cold Chain Market, 2021-2026F

Future Outlook of Vietnam Warehousing Market, 2021-2026F

Future Outlook of Vietnam Cold Storage Market, 2021-2026F

Future Outlook of Vietnam Cold Transport Market, 2021-2026F

Market Opportunities and Analyst Recommendation

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

Vietnam Cold Chain Market

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Malaysia Cold Chain Market Outlook To 2026 - Driven by Increase in Demand for Perishable Food Items and its Establishment as the Halal Industry Hub, Malaysia Cold Chain Market Experiencing Growth

South Africa Cold Chain Market Outlook to 2026F: Driven by Rising Meat and Seafood & Fruits and Vegetables Consumption & Owing to Growing Population and Infrastructural Development