Thailand Warehousing Market Outlook to 2022: Ken Research

The report titled “Thailand Warehousing Market Outlook to 2022 – By Business Model (Industrial / Retail Freight, Container Freight, Cold Storage, Agriculture and Others), By End Users (FMCG, Automotives, Electronics and Others; By Regional Landscape and By Third Party Warehousing” provides a comprehensive analysis of warehousing services in Thailand. The report focuses on number of warehouses, warehousing capacity, warehousing revenue, market segmentation by regions (Samutprakarn, Chonburi, Ayutthaya, Bangkok and Others); by end user (FMCG, Automotives, Electronics and Others); by business model (Industrial/ Retail freight, Container freight, Cold storage, Agriculture and Others); by regional landscape and by type of ownership (Company owned/ 3PL).The report also covers the overall comparative landscape in Thailand warehousing market. The report concludes with market projection for future and analyst recommendations highlighting the major opportunities and cautions.

Thailand Warehousing Market Overview and Size

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 terms of revenue generation, the warehousing market in Thailand has increased at a single digit CAGR during 2012-2017. Over the past few years, rapid retail market developments have been evident in Thailand with a continuous increase in organized retail or modern shopping across the country. Raising standard of living of the Thai population 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. “Just-in-Time” and “Just-in-Case” manufacturing processes are trending across global warehousing industry including Thailand with a purpose of eliminating waste and inconsistencies which are hampering with overall productivity.

Thailand Warehousing Market Segmentation

By Number of Warehouses

Samutprakarn province remains the most popular location for logistic service providers mainly because it is located not far from Bangkok, the capital city of Thailand, and the Suvarnabhumi Airport. Chonburi, which is a growing industrial and commercial district rich in coastal lines, takes the second highest amount of warehouse area in Thailand. This is mainly due to the lower rates for warehousing compared to the city of Bangkok and the convenient location of the city. Other cities such as Ayutthaya, Bangkok, Chachoengsao and others collectively represented the remaining share of warehouses in the country. Groups like JWD, WHA and Ticon are some of the major players in the warehousing market of Thailand.

By End User

The need for specialized care with an increase in standard of living of the urban population has made the FMCG sector the highest end user in the warehousing industry in the year 2017. The second major sector major sector which contributed to the warehousing demand 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 contribute a sizeable proportion. 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 remaining share to the Warehousing industry in Thailand.

By Business Model

The industrial/retail freight segment dominated overall Thailand warehousing market with a massive revenue share of in the year 2017. Container freight followed industrial / retail with in the year 2017. 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.

3PL (Third Party Logistics) make up the primary warehousing services market contributing the largest share to the warehousing market.

Comparative Landscape in Thailand Warehousing Market

The warehousing companies in Thailand were observed to compete 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 end user needs which reduces extra cost of transportation and increases time efficiency. 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.

Thailand Warehousing Market Future Outlook and Projections

Thailand warehousing market is expected to drive demand for more warehousing capacity in near future on account of rising production in the country. The market is forecasted to grow at a single digit CAGR during 2018-2022 driven by growth in end user industry which constantly have the demand for warehousing facilities. The price of warehousing in prime locations will rise significantly.  It is expected that lower amount of warehouse supply will enter to the market. The future supply of warehouse will increase, especially in the areas such as Chonburi and Chachoengsao provinces that were affected by the government’s Eastern Economic Corridor policy (EEC) and “Thailand 4.0” a policy, .

Key Segments Covered

By Regions

·         Samutprakarn

·         Chonburi

·         Ayutthaya

·         Bangkok

By Business Model:

·         Industrial / Retail Freight

·         Container Freight

·         Cold Storage

·         Agriculture and Others

By End Use

·         Fast Moving Consumer Goods (FMCG)

·         Automotive

·         Electronics

By Type of Ownership

·         3PL

·         Owned

Key Target Audience

·         Warehousing Companies

·         Warehousing Contractors

·         Warehousing Technology Companies

·         Logistics Association

·         Consulting service providers

·         Private Equity/ VCs/ Investment Banking Companies

Time Period Captured in the Report:

2012-2017 – Historical Period

2018-2022 – Future Forecast

Companies Covered:

·         JWD Group

·         Ticon Group

·         WHA Group

·         Triple I Logistics

·         Agility Logistics

·         DB Schenker

·         Yusen Logistics

·         Kuehne + Nagel

·         Siam Shipping

·         Siam Nistrans

·         Eagles Thai

·         CEVA Logistics

·         Menlo Logistics

·         JSI Logistics

Key Topics Covered in the Report:

·         Executive Summary

·         Research Methodology

·         Thailand Warehousing Market Introduction

·         Value Chain Analysis in Thailand Warehousing Market

·         Thailand Warehousing Market Size, 2012-2017

·         Thailand Warehousing Market Segmentation, 2017

·         Regulatory Framework in Thailand Warehousing Market

·         Comparative Landscape in Thailand Warehousing Market

·         Thailand Warehousing Market Future Outlook and Projections, 2018-2022

·         Analyst Recommendations in Thailand Warehousing Market

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

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Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

SWOT Analysis of Kuwait Fitness Service Market: Ken Research

What is the Potential of Kuwait Fitness Service Market?

The Kuwait Fitness Service Market has shown tremendous growth. Rising population in the age group of 15-44 years and increasing obesity rate has been complimenting the size of this industry. Coupled with increasing percentage of females in the population, there has been a significant shift of fitness service providers towards female-specific gyms and fitness clubs. The one month package has the biggest share followed by 1 year, 3 months and 6 months’ packages. Hawalli and Al-Asimah have been the major regions. Major reasons for the increase in demand have been the higher per capita income in Kuwait, penetration of international players and diversified services portfolio in Kuwait.

Expanding services portfolio of major players and aggressive marketing strategies have helped the market to grow at a CAGR of ~% during the review period. There has been an improved focus on expanding the number of fitness centers of major players and adapting to the latest technologies, leading to a gradual increase in fitness service demand. Changing lifestyle and increasing national disposable income have further led to an increase in the demand of fitness services. There has been a significant increase in government support and private participation to promote Kuwait fitness services. The Kuwait fitness service market has huge potential for new domestic and foreign players in terms of profitability and growth.

What have been the Major Revenue Streams in the Market?

Demand for personal training has increased on account of increase in health awareness of the urban population especially in the age bracket of 25 years and above. Consumers are shifting from gym services to value added services including Personal Training, Zumba, Spa, Pool, Sauna, Jacuzzi, Yoga and others because of the added benefits of these services. The revenue generated from gym services was KWD ~ Million in 2017. Growing instances of lifestyle diseases, increasing disposable income, and rising consciousness among consumers about health have propelled the growth of this segment. Several new brands have been entering the fitness services section, for instance, Peak Fitness, Al Corniche, Pilates and More providing personal training facilities. Personal training services have generated revenue of KWD ~ Million in 2017. This accounts for ~% share of the total fitness service market size. The increasing certification courses and training facilities for personal trainers have increased the quality of their services which has helped augment the market size of personal training. This continuous growth in the demand for qualified fitness professionals will help revenue from personal training to grow faster than the gym membership revenue in the coming future.

How Have the Various regions in Kuwait Performed in the Review Period?

The fitness services have always been absorbed by the urban and semi-urban areas of the country. These include Hawalli, Al-Asimah and Al-Ahmadi. A primary reason for the concentration of fitness centers in these cities has been the fact that these cities have been the most populous and economically powerfully in Kuwait. The set of audience living here usually prefers a healthy lifestyle and has the resources to spend on fitness services. Hence, major fitness centers place high preference to location around these two provinces. People in these big cities have a more hectic and sedentary lifestyle which in turn makes them more unhealthy and in need of fitness services. Keeping in mind the need of this consumer group the centers around these regions provide services including weight loss, yoga, functional training and others that are necessary to keep the body fit and healthy. Jahra in spite of being the largest governorate by area has only one fitness center because it contains most of the arable land of Kuwait and most Jharans are farmers with lack of resources to pay for fitness services. Hence, the demand for fitness centers is less in this region. Jahara and Mubarak Al Kabeer showcase opportunities for future service providers to expand to these regions.

What has been the share of different membership packages in the Review Period?

The people in Kuwait have the highest preference for the one month package as it provides the option of experimenting with several gyms for short durations and trying new activities. It is highly preferred by people joining gyms for the first time. Them a long term membership option. The second most preferred package is the one year package because major organized fitness centers in Kuwait do not offer other membership subscriptions for 6 months, 3 months and 1 month. For instance, Al Corniche and C-Club have been generating their revenue by selling one year membership packages for gym services and providing personal training facilities. Generally, it has been found that the fitness centers use tier pricing to attract customers to buy long-term packages. The one year packages have been the cheapest in relation to the other membership packages. Also, customers look for the best offers and discounts in the market when choosing a membership package. The one year packages generally come with several offers including 1-2 month free, freezing option, free services (massage, personal training sessions) and others which attract the customers.

What Is The State Of The Completion Landscape In Kuwait Fitness Service Market?

Competition Stage: The competition in the Kuwait Fitness service market has been largely fragmented due to large number of brands and fitness centers. Key regional players include Fitness First, Flex Fitness, Circuit Plus, Spark Athletic Center, Flare Fitness, Desert Fitness, Peak Fitness, Al-Corniche, Palms Beach Club, The C-Club and Sweat Studios. The market is highly concentrated in the region of Al Asimah and Hawalli due to presence of commercial hubs and large number of wealthy population with resources to pay for the expensive fitness services of the organized gyms. A gradual consumer shift towards brand acceptance and new demand for female specific fitness centers has encouraged service providers to expand to new regions including Mubarak Al-Kabeer and Jahra.

Company Positioning: There are about 20 major organized centers with a total of 49 outlets in the Kuwait fitness service market. These players have fierce competition among them and they have been continuously experimenting through new innovations, services, packages, discounts, offers and business strategies to expand their reach across Kuwait.

Competing Parameters: The major parameters on the basis of which the players in the market compete with each other are technological advancement and equipments, variety in services and facilities offered, experienced and qualified fitness personnel, membership packages in terms of different durations and prices, offers and discounts, marketing strategies.

What Factors Have Driven The Kuwait Fitness Service Market?

High Intensity Interval Training (HIIT) has been a major trend in 2017. Major fitness service providers in Kuwait have started generating revenue from providing HIIT exercises. Demand for Kuwait fitness services has increased on account of increase in health consciousness and obesity rates of the urban population especially in the age bracket of 15 years and above. Female specific fitness centers demand has increased manifold due to the changing social norms and adoption of western lifestyle therefore allowing women to join fitness centers. Expanding services portfolio, latest equipments and technology, increasing number of certification courses and increase in fitness awareness have been the major growth drivers of Kuwait fitness service market. The workplace fitness promotion and concern of employers towards the health of their employees has initialized the trend of corporate membership in fitness centers in Kuwait. The increasing popularity of fitness technology has positively driven the fitness service market in Kuwait.

What are the major challenges for Kuwait Fitness Service providers?

Scalability has been one of the biggest problems faced by the fitness service providers in Kuwait due to the high cost of setting a fitness center. Increasing the number and size of gyms require high investment funds and often fitness service providers do not find themselves in a position to expand due to lack of resources. Land rates are very high in Kuwait which tends to increase the set up cost of a gym. Organized gym generally require large land as they provide high quality facilities such as swimming pool, sauna and steam bath, sports room, juice bars and many other such facilities. Retaining certified and experienced trainers has become a strenuous task for fitness operators. Majority of the certified trainers prefer to work on their own as a freelance trainer thus, making it tremendously difficult for fitness centers to retain trainers and to provide regular training to their clients. With small profit margins in this industry, cost of gym maintenance, hiring professional trainers, expensive decorations and high cost of equipment maintenance acts as a challenge by involving recurring maintenance expenses. In Kuwait freelancing has become very common and it turns out to be negative factor for fitness services market. Higher demand has been observed among people for private training session and yoga session at their homes from certified professional trainers working as freelancers. Marketing has been very necessary for the fitness centers to attract customers. But fitness centers have been forced to depend on ‘word of the mouth’ marketing because of the high cost of advertising and marketing. This limits the revenue of the fitness industry. Fitness centers in Kuwait need to overcome these hurdles for steady growth.

What Are The Possible Future Opportunities in the Market?

Only around 20-25 centers are located in Al Jahra, Mubarak Al Kabeer and Al Farwaniyah. These places have a huge potential customer base. Hence, introduction of fitness centers in such sub-urban areas to provide high class fitness facilities should be the focus of upcoming centers. Prevalence of obesity is more in females in Kuwait. But due to lack of female specific fitness centers they are unable to access the fitness services. New female specific fitness centers that provide services to this section of population will help increase the size of Kuwait Fitness Service market. There is huge potential for gyms specifically providing fitness facilities for children due to the increasing demand for such services. Continuous increase in the health conscious population and demand for PT services offers new opportunities to the players providing such fitness services. Customer retention is a major challenge for fitness service companies. This can be solved by adopting innovative marketing strategies including offers on long-term memberships (6 months and 1 year), Couple discounts and provision of free services (massage, freezing of membership, 1-2 months free and others) along with membership packages. The Kuwait fitness service market is dominated by self-owned fitness centers. The new players can set up franchise models as it requires less investment and has an added advantage of an established brand name. These innovations will help players to generate higher revenues and help the Kuwait fitness industry to grow.

What Are The Future Estimations About The Market And Its Segments?

The Kuwait fitness service market had been showcasing a substantial rate of growth during the past few years. During the review period 2012-2017 the market has grown at a CAGR of ~%. The forecast period, 2018-2022, is expected to register a CAGR of ~%.Growth during this period shall be supported by the increasing income, expanding geographical presence of major players, increasing demand for personal training and other integrated services, innovative marketing strategies and diversifying services portfolio. Male members have been analyzed to capture ~% of Kuwait fitness service market share by 2022.The increasing demand for integrated services is anticipated to escalate the number of organized centers at a significant pace over the period 2017-2022. As a result, the share of organized sector in the overall market is expected to rise to ~% by 2022 in future. Rising disposable incomes, increasing obesity rates, increasing population in the age group of 15-44 years and growing awareness of health and fitness services will be fuelling demand for fitness services in Kuwait.

Companies Covered:

Kuwait Organized Fitness Services Providers: Fitness First, Flex Fitness, Ras Al Salmiya, Orange Theory Fitness, Rush Gym, Circuit plus, Spark Athletic Center, Al Corniche, C-Club, Palms Beach Club, Inspire Fitness, Oxygen Gym, Active Fitness, Platinum Gym, Peak Fitness, Sweat Studios, Pilates And More, Flare Fitness, Desert Fitness

Kuwait Unorganized Fitness Services Providers: Alta Fitness, Hero Gym, Steam gym, Studio X, Physique, Trim Club, Marina Fitness Center, Jumeriah Fitness Center, La Femme, Hype Gym, Hiltonia, Gold's gym, Lady Power, Keep Fit Gym, iFitness and others

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

https://www.kenresearch.com/healthcare/general-healthcare/kuwait-fitness-services-market/157170-91.html

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+91-9015378249

Rising Usage Of Blockchain Technology In The Health Care Market Outlook : Ken Research

The health care industry is growing rapidly with the increasing in the concern of disease and several viral in the respective economy. However unsurprisingly, the health care industry is a profit making market is becoming more effective by the time and with the significant development in the technologies of the health care industry. In this industry the technology is playing vital role as in the recent trend with the help of technology several tests to be done and can easily detect the dangerous disease such as cancer and others. According to the report analysis, ‘Market Research Reports For Health Care’ states that in the coming years the technology in this sector will drive the market more enormously and the technology of Blockchain has potential to transform the health care market with the various application which includes increasing the security, privacy and interoperability of health data.

Many of the people have heard a lot related to the blockchain as a portrait of a cryptocurrency called bitcoin but is has much wider use then this, including various industries. The usage of blockchain in the health care industry is that creates immutable and distributable data records which can be shared peer to peer between networked database systems. With the help of this technology the data is theoretically secured and protected from data breach threats. Moreover, in a research it is observed that the Silicon Republic, blockchain startups raised USD 1.4 billion in 2016 and USD 1.0 million in 2017 thus the financial sector has already realized the benefits of using the blockchain. Additionally, the opportunities for health care industry from the blockchain technology are plentiful and in the future this technology in the industry has a wide usage and lead to significant growth as due to this technology the development is done in the health care record systems, wearable devices and others. One of the blockchain approaches that allows for the secure recording and sharing information to the public blockchain with this approach many of the health care institutes and hospitals are admiring this technology.

According to the report analysis, ‘Health Care Market Research Reports’ states that the applications of blockchain technology will lead the market growth even more significantly and blockchain provides a more secure way to protect data than ordinary encryption whereas, it excludes intermediation in data sharing, while using blockchain. Moreover, in 2018 the pharmaceutical companies sector is expected to account for the largest share of the health care blockchain.

It is expected that in the coming years, the North America will be accounted for the largest share in the market followed by Asia Pacific region. Additionally, the large share of North America is attributed to increase of data breaches in the region and rising need to address the dramatic rise in the health care costs in the region. Furthermore, the Europe is also doing so many developments in the technology of blockchain for acquiring huge market share in the coming years.

 IBM and Microsoft the companies in US which are currently functioning in this sector globally in an effective manner and acquiring major share in the market together. Moreover, Patientory, iSolve, Blockpharma and others are the major players of this industry which are working more significantly which make the market more competitive. Therefore, it is expected that in the coming years the market of blockchain in the health care industry will grow rapidly and will lead to significant growth over the decades with the more financial support from the new entrants.

To know more, click on the link below:-

https://www.kenresearch.com/healthcare/general-healthcare/SC-91-64.html

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Noteworthy Usage Of Internet Of Things (Iot) In The Car Rental Market Outlook : Ken Research

Car rental industry is rising with the more development in the technology and the recent scenario represents the significant growth in the forecasted period with the more developed technologies and new innovations in the existing technology. According to the report analysis, ‘MARKET RESEARCH REPORT FOR CAR RENTAL’ states that the internet of things technology is improving the rental car process for drivers, as well as pen and paper systems for rental managers. With the establishment of IoT in this industry it eliminate the traditional way of booking car or any other vehicle such as waiting in line most probably for hours. In the recent trend, divers can use their connected phone or device to unlock, lock, and start the rental car and with this feature means no losing a set of keys and getting locked out.

With the technology of IoT the rental car workers can monitor the car’s fuel level and odometer. In addition the IoT stage can help in locating any vehicle in real time, which is very much beneficial if the car is not returned to the proper location at the time. The car rental companies can track the GPS location to find out more related to why people rent their vehicles which help in improving the mapping for future use. On a larger scale, the IoT technology will help the car rental companies in understanding how customers use their cars. The applications of the IoT lead the market growth globally moreover, the global rental company, Hertz, has been eager to put the IoT technology to use in its business vehicles. Whereas, Hertz has collaborated with the retail stores across Europe due to which the customers who make physically large purchase can rent a car by the hour to escort their items home. According to the report analysis, ‘CAR RENTAL INDUSTRY RESEARCH REPORT’ states that IoT products are gaining momentum in the market and IoT marketplaces are like gateways that offers companies the option to connect and interact with the vast range of vendors without creating any platform. Moreover, the major companies in this industry are benefitting from the IoT through cost savings due to predictive maintenance, improved safety, and other operational efficiencies.

The Asia Pacific region is expected to remain the largest market due to increased digitalization and rapid urbanization with the increased expenditure on traveling. In addition the Europe and North America are expected to witness a significant growth over the forecast period because of improving economy, high quality road infrastructure and others. Not only has this, the rest of the world is doing so many development and new innovations in the technology for enhancing the landscape of the car rental market.

The emerging trend in this market has the positive impact and enhanced the user experience through the digitalization and enhanced technologies in the car rental service. Enterprise Rent-A-Car, Avis Budget Group Inc., Sixt AG, Europcar Group S.A., Hertz Global Holdngs, Inc., has been the major players in the global car rental market. Moreover, with the existence of the numerous players in this market, it will lead to a competitive landscape with is benefitted for both the customer as well as the investors. Therefore, it is expected that in the coming years the IoT technology in the car rental industry will lead to significant growth over the decades.

To know more, click on the link below:

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

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

+91-9015378249