Singapore Logistics Market is currently valued at 25 Bn SGD in 2022. Will Singapore continue this growth trajectory in future? : Ken Research

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1. Growing Demand in Singapore's E-Commerce Sector

Click to know: Major Players in Singapore Logistics Market

The demand in e-commerce sector in Singapore was exponential and the e commerce GMV grew from $2.5 Bn in 2019 to $6.2 Bn in 2022 this paved path for the growth of logistics market. E-commerce companies invested in new technologies and explored new ways to fulfilling the demand in the market.

Shopee was the most frequently visited e-commerce site in the fourth quarter of 2021, according to the Price group, with 16.15 Mn monthly online visitors. Shopee is followed by the Singapore-based online retailers Lazada and Amazon with 9.2 and 5.2 million visitors, respectively.

Singapore, which has a population of 5.87 million people, is a digitally literate nation with an internet penetration rate of 88.9% and a financial inclusion rate of 97.9%. Additionally, according to the Ministry of Trade and Industry, as of 2021, about 52.3% of all Singaporeans had made an online purchase, indicating an increase in the adoption of e-commerce businesses. The business services sector, which made up about 3.6% of all e-commerce trade in 2019, had the smallest share of the market.

2. Government Assistance to the Logistics Sector

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• Singapore’s announced the launch of an S$ 18 Mn Supply Chain 4.0 Initiative in 2021.
• Aims to integrate more technology to assist SMEs.
• Singapore launched the Singapore Trade Data Exchange (SGTraDex) in mid-2021 and facilitates the secure sharing of data between supply chain ecosystem partners through a common data highway.
• The ITM is a government-led initiative aimed at driving the transformation and growth of the logistics and supply chain industry in Singapore.
• The ITM aims to accelerate the adoption of digital technologies, such as automation and artificial intelligence, and to enhance the productivity and competitiveness of the sector.
• The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
• PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries.

Major Players Mentioned in the Report:

• Poh Tiong Choon Logistics Limited
• CWT Pte Ltd.
• CEVA Logistics Singapore Pte Ltd
• Geodis Singapore Pte Ltd1
• DHL Express (Singapore) Pte Ltd
• DSV
• Yusen Logistics (Singapore) Pte Ltd.
• YCH Group Pte Ltd
• Yamato Transport (S) Pte Ltd
• Federal Express (Singapore) Pte Ltd
• ACW Logistics Pte Ltd
• Singapore Post Limited
• Richland Logistics Services Pte Ltd
• Storbest SSHK Cold Logistics
• Global Cold Chain Solutions1
• ST Logistics

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• E-commerce Companies
• Third-Party Logistic Providers
• Potential Market Entrants
• Freight Forwarding Companies
• Warehousing Companies
• Cold Storage Companies
• Industry Associations
• Consulting Agencies
• Government Bodies & Regulating Authorities

Time Period Captured in the Report:

• Historical Period: 2019-2022
• Base Year: 2022
• Forecast Period: 2022-2028

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Singapore Logistics Industry

Related Reports by Ken Research: –

USA Logistics Industry Outlook to 2026

Australia Logistics Market Outlook to 2025

India’s water Purifier Market has shown a robust growth rate of 12% since 2017 owing to schemes like JJJ. Will the growth sustain? Ken Research

 Rising urbanization levels & favorable infrastructure is expected to drive the market in the upcoming years growing at a CAGR of 15%, says a report by Ken Research

1. India Water Purifier Market is witnessing government regulations with the aim of increasing clean drinking water accessibility to every household.

Click to Read Full Article: India Water Purifier Market

The GOI, after seeing the need for clean drinking water in every Indian Household has implemented certain schemes to overlook the market growth. For instance, schemes such as The Ministry of Jal Shakti, Govt. of India has implemented National Rural Water Development Program (NRWDP) in order to improve the supply of quality drinking water in different parts of Rural India. Other such schemes include, Jal Jeevan Mission (JJJ) & The government’s rural e-governance initiative — Common Service Centers (CSCs) which will now launch a pilot project to provide clean and safe drinking water in 50 villages, following which it will rope in village-level entrepreneurs (VLEs) to set up water filtration plants in 1 lakh villages in the country.

2. “Investment scenario getting a boost:’ India’s Water Purifier Market is getting massive investment boost & emergence of new startups.

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Various companies operating in the India Water purifier market are getting massive investment influx owing to government regulations & the infrastructure development. For instance, Second nature $16 Mn for healthy home subscription products like air & water filter. All in all, the market is currently growing at a robust rate with startups & companies updating their operating policies & services being offered to customers.

3. UAE Car Rental Market to witness a robust growth owing to favorable government policies, rising health consciousness amongst people & rising investment scenario.

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India’s Water Purifier Market is expected to grow at a Robust rate owing to rising health consciousness amongst people, rising urbanization levels & rising investment. As the penetration is increasing the market is becoming attractive for new consumer durable companies for entering the market. Companies such as Blue Star, Havells and others entered the market during the review period. We can see more players entering the market and established players acquiring the small players.

 

Growing Green: Indonesia Government initiatives give an edge to the Agriculture Equipment Market to grow in Indonesia: Ken Research

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Agriculture has been the backbone of Indonesia’s economy and agriculture equipment is one of the important aspects of the farming industry. The agriculture equipment sector is growing at a CAGR of ~9 between 2014 and 2020, as per the Ken Research report. However, the market was impacted by the global pandemic.

Here is a glimpse of the Indonesian agriculture industry and a deep insight into the country’s government schemes to promote the growth of the sector.

1) With ~57 Mn Ha of Agricultural Lands, farming has long been the backbone of Indonesia’s economy

2) Among APEC member economies, Indonesia has relatively high Contribution of Agriculture to its GDP

3) The digital disruption in the agriculture equipment market is opening new opportunities in the country

4) However, the pandemic Impacted the growth of the Indonesia Agriculture Equipment industry; Supply Chain and Farm Operations Disruption were the major impacts of Covid-19

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5) The market soon picked up pace owing to the Rising Population and Government push for Mechanization in the country

6) Government Initiatives, Support Schemes, and After-Sales Support Policies to Drive Market Value and Volume of the Indonesia Agriculture Equipment Market in the Future

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Indonesia Agriculture Equipment Market

Brazil medical device market is expected to register growth at CAGR of 6% in terms of revenue by 2025- What measures can be undertaken to drive the industry’s growth?

 In future, it is anticipated that Brazil’s overall healthcare expenditure will increase, supported by increased investments in the country’s universal and public healthcare system, says a report by Ken Research.

1. Rising demand for priority medical devices for the first level of care in Brazil medical device market.

                       

Global trends in Brazil medical device Industry

The medical device manufacturing companies in Brazil are largely focusing on high end technology driven products. Moreover, with the prevalence of lifestyle diseases such as diabetes, stroke and chronic diseases such as HIV, Tuberculosis, the hospitals and specialized clinics require advanced and priority medical devices. The demand of these devices is growing majorly in the cities of Southeast region such as Sao Paulo and Rio de Janeiro largely due to the strong infrastructure support for the installation and accessibility of these medical devices.

2. Artificial Intelligence is leading to developments in the Medical Devices Market of Brazil.

                            

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The Brazilian medical segment is focused on areas that include technological innovations such as the practice of telemedicine, the application of artificial intelligence in diagnosis and the digitization of the patient's health history.

The use of artificial intelligence is one of the major trends which have positively impacted the medical device industry of the country. World Bank study shows that the use of the application of Artificial Intelligence to the analysis of electronic medical records could save BRL 22 Bn by avoiding unnecessary repetition of tests and treatments in Brazil. In addition, such technology improves turnaround time for patient testing and using predictive analytics on the basis of historical patient data can improve clinical outcome.

3. Cross Comparison of Imports and Local Production on the Basis of Major Exporting and Importing Countries.

                

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Medical Devices Market in Brazil is an import driven market. The equipment imported are majorly high complex medical devices that are not manufactured in Brazil largely due to the unavailability of raw materials and lack of manufacturing facilities in the country. Local Production constitutes for a lower percentage share as it is highly marked by the production of simple, less complicated devices or devices with established technologies.

Major Exporting countries to Brazil are USA, China, Japan, Germany, Mexico, Australia, Sweden, Ireland, France and others. Major local production happens in Sao Paulo and Rio de Janeiro located in South east region.

 

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The Europe Road Freight Market stood at $34 Bn in 2021 owing to active participation of market players & government to improve the infrastructure. Will the factors induce further market growth: Ken Research

 1.“Focus on infrastructure & policies:” Governments all across the globe are focusing on improving the infrastructure & policies when it comes to logistics market.

Click to Read Full Article:  Recent Trends in Europe Road Freight Market

In Western Europe, the average return on equity (ROE) in the transport and logistics sector is 0.86%. As of January 2022, companies in the air transport industry in Western Europe saw average returns on equity of approximately -45%. Many countries are, however, improving their transportation infrastructure to improve trade flow in Europe. For instance, Germany and the United Kingdom are developing infrastructure through construction projects. Countries such as Germany are improving their road infrastructure, with total roads reaching 8,30,000 km in 2021 from 600,000 kilometers in the previous year, representing an increase of 28% YoY.

2. “Tech to the rescue:” Technology-enabled transformations such as FMS & autonomous vehiclesand digital trucking aggregators with online load board and automated brokerage are driving the market growth.

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Technology has significantly changed due to AI’s important role in supply chain management, including the development of predictive optimization, which is expected to become one of the biggest drivers in the logistics industry. Technologies such as Real Time Location and Temperature Monitoring and Data Sharing which enables real time monitoring of the temperature of a refrigerated unit & customer has changed the way fleet operators view the logistics market. Other such technologies operating in the market currently are warehouse automation, fleet management software & Advanced driver assistance system.

3. “Growth is the way ahead:” With increasing investment, technological innovation & government focus, the road freight market in Europe is expected to witness a surge in terms of development.

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The Europe Freight Market is expected to grow at a steady pace owing to improvement in infrastructure & favourable government policies. The logistics investments in Europe reached approximately USD 34 Bn in H1 2022, witnessing a YoY increase of 13% in take-up driven by growth in e-commerce, which witnessed a rise by 13% YoY in 2021, amounting to approximately EUR 88.1 Bn (USD 94 Bn).

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From Plows to High-Tech Machinery: Will Myanmar's Agriculture Market sustain positive growth in the future?: Ken Research

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Myanmar Agriculture equipment has been growing with a growth rate of 25% between 2014 and 2020. The growth is attributed to rising labor wages in the country and increasing government initiatives toward the development of the agriculture equipment industry. However, the market has several growth restraints that hold back its growth.

So, what does the future hold for the Myanmar Agriculture machinery sector? Find out here!

1. Farm Wages Grew rapidly initially due to labour scarcity which led to an increase in Agriculture mechanization in Myanmar

2. Presently, Government Initiatives, Growth In Machinery Supply, and Labour Migration have been driving the growth of the market

3. However, Changing Farmer Interests, Lack of Financing / Credit are posing as challenges in the Agriculture Equipment Sector

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4. But Regulatory bodies are framing policies in order to curb the issues and develop Agricultural Mechanization in Myanmar

4.1 Government of Myanmar has formulated various strategies to improve food security, agricultural growth, and improve farmers’ welfare

5. With Government Initiatives and Public-Private Partnerships, the industry has high potential to grow more in the future

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Myanmar Agriculture Machinery Market

The Global Soda Ash Market stood at $19 Bn in 2022 owing to active participation of market players & growing EV market. Will the factors induce further market growth: Ken Research

 A steady market growth is anticipated in the upcoming years for the Global Soda Ash market, given increasing investment & market growth of partner industries, says a report by Ken Research

1. “Active involvement of various players:” Major players across the world are indicating interest in the Global Soda Ash Market

Click to Read Full Article: Global and Indonesia Soda Ash Industry

Rising Demand for container glass from food & beverage industry is projected to provide lucrative market growth opportunities in the upcoming years. Key players are investing heavily in production of container glass. For instance, in 2018, the Glass container company (GCC) announced to expand its production by 60% via a $17 Mn project backed by EBRD, Society General & European Union. As the investment in developing countries increases, the demand for soda ash will grow. As a result, several key players are increasing production capacity & expanding their business in developing regions. They’re also investing in R&D in developing regions.

2. “Soda Ash but in an electric way:” Extensive usage of Soda Ash in EVs is boosting the market with demand expected to witness an upsurge in the upcoming years.

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Increasing sale of Global electric passenger vehicle due to growing disposable income of individuals is a major trend for Global Soda Ash market given that soda ash is used extensively in EVs. According to International Energy Agency (IEA), in 2030, Global Electric Vehicle sales are expected to reach 23 Mn as per the new policy scenario. In the EV30@30 scenario, around 70% of the vehicle sold in Europe are EV’s, 37% in Japan, 30% in Canada & US & 29% in India.

3. “A steady way to go forward:” The market is expected to grow at a CAGR of 2% in the near future with growth picking up pace with time.

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The Global Soda Ash Market is expected to witness a robust growth in the near future owing to increase in sale of EVs & Personal care industry, emerging end user of Soda Ash, is expected to grow at a CAGR of 7% (2020-2024) with increased penetration rate of 32% (‘24) from 22% (‘20). The production capacity is also expected to increase Ash up to 15,000 MMT by existing players. When it comes to region, India and Australia in APAC and South-East Asian countries Including Indonesia, Thailand, Vietnam are expected to witness new Soda Ash Manufacturing Plants. For Instance: In June’19, Tata Chemicals (India) received approval to expand their production capacities from 1 MT to 11 MT.

Brazil Diagnostic Labs Market is expected to generated a revenue of more than USD 25 Bn by 2025- Will the industry reach its targeted growth?

 Growing number of laboratory equipment innovations, artificial intelligence in processes, ageing population, and number of chronic diseases in Brazil are the major growth drivers in Brazil Diagnostic Labs Market, says a report by Ken Research

1.Brazil diagnostic labs market is facing currency depreciation as a challenge.   

               

Opportunities to look for in Brazil Diagnostic Market

The local currency of Brazil has been depreciating over the years. The exchange rate with respect to USD depreciated from BRL 2.2 in 2013 to BRL 3.6 in the year 2018. Brazil, on the other hand, makes imports of laboratory equipment from countries such as Unites States of America, Germany and many other countries. The depreciation of currency increased the cost of imported laboratory equipment in the country. High costs on imports of laboratory equipment will lead to low profit margins for the company till the time it recovers the costs.

2. Increasing level of insurance penetration- Developments in Brazil Diagnostic Labs Market.

                         

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The increase in penetration level of private insurance is one major trend in the country. Penetration of Private insurance among Brazilians increased significantly from 19.9% in 2006 to 23.2% in the year 2016. This implies, as the number of insured individuals is growing, the use of diagnostic services will increase consequently in the country.

France showed highest percentage of 95% in terms of number of penetrated individuals followed by Canada and USA with 67.0% and 60.0% of the insurance penetration in the year 2018. On the other hand, Brazil accounted for 25.0% of the healthcare penetration which is expected to grow in future.

 3. Increasing Number of Mobile Applications for Healthcare - Trends in Diagnostic Industry.

                      

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Digital mobile applications play an important role in monitoring the health of the patient in Brazil. Some of the companies such as Apple and Samsung are investing heavily in the digital healthcare market. Moreover, Venture Capital Funds in the country is also inviting the investors for making investments in the tele healthcare market in Brazil. Boa Consulta is a startup that made it easier for the patients to schedule their appointment with the doctors. The Healthcare app is currently being used by more than 20,000 users. This startup’s services are helpful in finding out the healthcare specialists, checking reviews and booking appointments. 

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India’s consumer wearables Market is expected to grow at a CAGR of 20% by 2024. Will the Projections justify the growth rate? Ken Research

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India’s consumer wearables Market is expected to grow at a CAGR of 20% by 2024. Will the Projections justify the growth rate? Ken Research

A massive market opportunity is present for the Consumer wearables market in India owing to government initiatives, increasing investment & rising fashion trends, says a report by Ken Research

1. Government Initiatives to Bridge Gaps in consumer wearables Industry via appropriate schemes for development of domestic market in India.

Click to Read Full Article: India Consumer Wearables Market

The regional government bodies are implementing new policies which may significantly drive the market. For instance, in February 2022, The Indian government unveiled a new phased manufacturing scheme to encourage the domestic production of wearable and hearable devices (PMP). Most components used to make wearable, and hearable gadgets will no longer be subject to customs tax beginning on April 1, 2022, while importing such goods will range from 15 to 20 % from 2023 to 2026. While there will be a 20% tariff on imported smartwatches, Bluetooth speakers, true wireless stereos, headphones, earbuds, neckbands, and headsets, there will be a 0% to 15% duty on imported components between 2023 and 2026.

2. “Investment scenario getting a boost:’ India consumer wearables Market is getting massive investment boost & emergence of new startups.

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Various companies operating in the India Consumer wearables market are getting massive investment influx owing to government regulations & the infrastructure development. For instance, Indian electronics & wearables market was able to raise $100 Mn investment. All in all, the market is currently growing at a robust rate with startups & companies showing interest in entering the India market owing to vast opportunities.

3. India is expected to be a major hub for consumer wearables market growth in the upcoming years owing to massive investment flow.

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India is witnessing an increased investments alongside feature upgradation. For instance, the Gen7 Hybrid Smartwatch has been introduced by Fossil in India. The smartwatch series aims to integrate the functions of smartwatches with the design language of classic watches. The country is to witness a surge in the demand for consumer & smart wearables owing to the rising fashion & technology trends in the country with a higher adoption of digitalization by various industries in next few years. Moreover, the emergence of 5G technology in India is likely to grow the adoption of IoT-enabled products in the Indian market further contributing to the development of consumer wearables industry. All in all, a robust growth is expected in the upcoming years.

Future Outlook of Global Remittance Market: Ken Research

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Global Remittance Market By Geography

The Global Remittance market is segmented by geography into Asia Pacific, Middle East, Europe, Latin America, Africa & North America. By region, the remittance market was dominated by Asia-Pacific in 2020 and is expected to witness growth at the highest rate owing to growing number of immigrants and increasing adoption of digital remittance.

Competition Scenario in Global Remittance Market

Global Remittance Market is concentrated among the top 10 players. Prominent players are pursuing various strategies, such as research & development initiatives, product innovations, joint ventures & strategic partnerships, expansion, and mergers & acquisitions to gain a competitive edge in the market. Market players are focusing on leveraging the capabilities of newly emerged fintech companies to offer their consumers the utmost convince of remitting funds. The major companies dominating the Global Remittance market for its products, services, and continuous product developments are Bank of America, Citi Group Inc., Pay Pal, Wells Fargo, JP Morgan Chase among others.

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What is the Expected Future Outlook for the Overall Global remittance Market Across the globe?

The global remittance market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027 witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Remittance market is driven by rise in mobile-based payment channels and cross-border transactions and decrease in remittance transfer time & cost drives the growth of the market. In addition, increase in adoption of banking & financial sectors across the globe fuels the remittance market growth.

However, rise in number of financial crimes and lack of awareness for digital remittance is expected to impede the market growth. Furthermore, technological advancements in digital remittance market is expected to provide lucrative opportunities for the market growth. The most important growth driver is the remittance flows coming via migrant workers.

For more insights on market intelligence, refer to the link below: –

Global Remittance Market