Decoding KSA Warehousing Automation: Demand and Supply Insights: Ken Research

 Saudi Arabia (KSA) drives warehousing automation as a regional logistics epicenter, fueled by a consolidated market and booming e-commerce demand.

Storyline

• Saudi Arabia's infrastructure initiatives drive demand for automated warehouses.
• Growing demand for cold storage services presents growth opportunities.
• Focus on e-commerce and retail fuels demand for automation.
• As per Ken Research estimates, Warehousing and logistics industry poised to undergo a transformative automation phase.

Existence of a consolidated market scenario amongst the growing warehousing automation industry globally, KSA’s government has made the push to turn the nation into a Regional Logistics Epicenter necessitating automation as the key parameter for a Regional Logistics Chain, enabling faster growth of KSA’s warehouse automation industry. On the other hand, an unprecedented surge in E-commerce market has balanced the demand side of the market. In this piece, we uncover the industry landscape, demand & supply side of KSA’s Warehousing automation industry.

1.Supply side boost: Government Plans and E-commerce Fuel Automated Warehouses in KSA.

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Saudi Arabia's ambitious government infrastructure plans, including initiatives like NEOM, The Red Sea, ROSHN, and the National Industrial Development & Logistics Program (NIDLP), have created a solid foundation for the logistics network in the country. These developments, supported by a $35 Bn allocation for logistics infrastructure, have led to an increased demand for automated warehouses. (~$ 100 Bn in its transportation & logistics infrastructure) The focus on efficiency, speed, and accuracy in the supply chain has made the implementation of automated warehouse solutions essential. This growing demand is driven by the booming e-commerce industry's evolving requirements, the need to streamline operations, and ensure timely deliveries.

2.Demand Surge: Saudi Arabia's Rise as a Transshipment Hub Spurs Demand for Affordable Modern Warehouse Solutions.

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The rising demand for cold storage services in Saudi Arabia, primarily driven by the food and beverage (F&B) and pharmaceutical sectors, is leading to significant growth opportunities. To cater to this demand, companies are adopting asset-light models and relying on third-party logistics (3PL) providers who offer specialized cold storage solutions, given that only 5% of the warehouses are currently automated. These providers leverage innovative technologies to ensure efficient operations and maintain the quality and integrity of stored products. As a result, companies are strategically expanding their warehouses and investing in cutting-edge solutions. This transformative phase is focused on meeting the evolving needs of the F&B and pharmaceutical sectors while gaining a larger market share.

3.“A balance to be the solution:” The demand and market share of e-commerce and retail is expected to increase in the future due to increasing focus towards reducing the overall sales cycle duration.

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Experience the transformative power of automation as it reshapes the warehousing and logistics landscape, propelling the retail and e-commerce industry into a new era. In this fast-paced world, e-commerce automation software becomes the key driver, enabling businesses to focus on their core strengths and strategic goals. The adoption of automated warehouse management systems empowers 3PL companies to achieve unprecedented efficiency, accuracy, and real-time inventory visibility, while reducing costs and enhancing customer service. As per our estimates at Ken Research, the market will grow at a steady pace undergoing transformative warehouse automation process.

 

USA Agri Equipment Market on Track for 10.5% CAGR by 2027: Ken Research

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The United States agricultural equipment market is primed for a significant growth trajectory in the coming years, with projections indicating a CAGR of ~10.5% by the year 2027. 

STORY OUTLINE

• The USA's agricultural equipment market is set to achieve a remarkable CAGR of ~10.5% by 2027, reflecting a dynamic and robust industry outlook.
• The integration of cutting-edge technology, including precision agriculture and data analytics, is redefining farming practices, optimizing yields, and minimizing resource wastage.
• Favorable government policies, subsidies, and incentives are pivotal in fostering innovation and leveling the agricultural playing field, driving the market's upward trajectory.
• The market's alignment with sustainability goals through eco-friendly machinery and resource-efficient practices signifies its commitment to economic viability and environmental responsibility.

The USA's agricultural equipment market is poised to experience substantial growth in the upcoming years, with forecasts pointing towards an impressive Compound Annual Growth Rate of around ~10.5% by 2027. This noteworthy surge results from a combination of influences, spanning from technological progress to evolving agricultural methods, showcasing the market's durability and flexibility.

A Governmental Boost to Agricultural Innovation:

The impending growth of the USA Agri equipment market is also buoyed by governmental support and incentives. Policies offering financial aids, subsidies, and tax breaks have cultivated an environment conducive to technological adoption and innovation. These incentives not only alleviate financial pressures on farmers but also facilitate the transition to modern machinery. The collective drive towards enhancing competitiveness and leveling the playing field across the agricultural spectrum has set the stage for sustained growth.

Sustainable Agriculture as a Catalyst:

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The market's promising trajectory is further underscored by its increasing alignment with sustainability imperatives. Amid growing environmental concerns, the demand for eco-friendly agricultural machinery has surged.

The incorporation of energy-efficient technologies and reduced emissions not only augments productivity but also reflects a commitment to environmentally responsible practices. Sustainable methodologies, such as precision irrigation and reduced tillage, are making strides in resource conservation, ensuring economic viability while honoring environmental stewardship.

Market Diversity and Innovation:

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The agricultural equipment market's journey towards a ~10.5% CAGR is facilitated by its adaptability to diverse agricultural needs. The USA's expansive landscape fosters a wide array of crops, each with distinct planting, cultivation, and harvesting requirements.

Manufacturers have responded by developing specialized machinery tailored to these unique demands, enhancing overall efficiency and contributing to sector growth.

Navigating Challenges:

While the projected CAGR paints a promising picture, the journey is not devoid of challenges. High initial procurement costs, the need for effective maintenance, and potential regulatory shifts pose potential roadblocks. However, the industry's track record of innovation and adaptability offers optimism. Manufacturers are exploring innovative financing models and designing more resilient, durable machinery to address these challenges head-on.

As the market progresses on this upward trajectory, it serves as a reflection of the agriculture industry's ability to harness innovation to meet the challenges of a rapidly evolving world. With a focus on technology, sustainability, and innovation, the USA Agri equipment market is poised to drive both economic growth and environmental stewardship well into the future.

3 Key Customer Insights Before Entering a New Market: Ken Research

 

Building a business is definitely not a cakewalk, but expanding it is a next-level task. But this doesn’t mean it is only full of hustle, it surely offers some great opportunities to flourish and make profits. However, there are some challenges that cannot be overlooked while entering a new market or a territory and overcoming these hurdles requires a mindful strategy that can only be built when you have accurate insights under your belt.

So, here we are, uncovering three key customer insights that can guide your positioning strategy in a new market. Also, some famous examples are attached for your better understanding. So, let’s start!

1. Cultural Sensitivity: The Language of Connection

Entering a new market is more than about just about your product. No matter how awesome is your product, if it doesn’t resonate with your target consumers or their cultural beliefs, it won’t be as successful as it could be.

Hence, understanding the local culture is paramount. Even Harvard Business Report highlighted that 70% of consumers are more likely to purchase a product if the advertising is culturally relevant and Pampers understood the homework very well while entering into Japanese Market.

When Procter & Gamble introduced their diaper brand Pampers in Japan, they found out that Japanese mothers preferred diapers with higher absorbency due to smaller living spaces. As a result, Pampers adapted their product to meet this need, and their advertising focused on the convenience of longer-lasting diapers met with Japanese consumers’ expectations, resulting in a successful market entry.

2. Consumer Behavior Analysis: Navigating Preferences

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Understanding how customers behave and what drives their decisions is vital. Research from Nielsen suggests that 59% of consumers globally prefer to buy products from familiar brands. However, preferences can differ significantly in new markets, making it necessary to tailor your strategy.

Customers are the one who decides your product’s success. That’s why, it is important to understand how consumers behave and what determines their decisions is important. For this, you need to conduct several surveys and interviews in order to get deep consumer insights and build your marketing strategy accordingly. However, this is a time-consuming task.

That’s why, 500+ Product managers opted for Ken Research to get detailed targeted consumer insights. Ken's research has helped multiple business owners globally build a customer-centric strategy based on customer behavior analysis and helped them increase significant market revenue.

For instance, a multinational Emirati-based telecommunications services provider increased revenue by 10% after receiving a detailed market assessment and target customer analysis from Ken Research. 

This company faced difficulties in assessing customer preferences and understanding the Competitive benchmarking for the future strategy. Therefore, they contacted Ken Research.

Ken Research offered a detailed market assessment and target customer analysis to understand the potential for each type of tariff and internet plan across the region. Additionally, enabled the client to formulate an effective strategy and launch different mobile tariff plans and internet plans in line with the customer preference across different countries and regions across the Middle East.

As a result, the client experienced a 10% revenue increment by understanding customer behavior.

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3. Socioeconomic Understanding: Pricing and Value Perception

A survey from Statista shows that 57% of consumers globally consider price as the most vital factor that influences their purchasing decision. Therefore, the economic context of a new market plays a very crucial role in deciding the pricing strategy for your brand.

When Uniqlo, a Japanese fashion retailer entered the Indian market, they did their homework pretty well. It was reflected in their pricing strategy. They thoroughly studied the needs and wants of Indian shoppers and accordingly offered the best quality stylish clothes at affordable prices. This helped Uniqlo quickly establish a strong foothold in the competitive Indian retail market.

To sum it all up, entering a new market is always full of surprises. You never know what would come. But there is always a data-backed strategy that helps you stay strong in this dynamic industry. Besides, we have added three customer insights that will not only help you gain and retain loyal customers but also enable you to flourish by tapping some new opportunities that your competitors might have not yet, simply by identifying the loopholes in the market through customer surveys!

So, do consider taking the market research lane if you wish to outsmart your competitors and build a successful market entry. In case you seek some reliable platform to seek customized market research for your brand, Ken Research is the one for you! Visit the website today!

The US Urinary Tract Infection Therapeutics Market is expected to reach ~$2Bn by 2028: Ken Research

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The US urinary tract infection therapeutics market is anticipated to grow at a CAGR of ~2% and become a ~USD 2Bn industry by 2028. Currently, this industry has a market size of ~USD1.8 Bn.

STORY OUTLINE

• The rising age of the population is one of the major factor responsible for the growth of the US UTI Therapeutics market.
• The rise in government expenditure towards the healthcare sector also pose as growth inhibitor for the US UTI Therapeutics market.
• The adoption of Telemedicine by people of the United States also act as an accelerating force in the US UTI Therapeutics market.
• Increasing focus on the development of novel therapeutics also helps in pumping the US UTI Therapeutics market.

A fast growing industry, increasing geriatric population, increasing health expenditure by US government, and rise in health consulting apps and websites along with focus on the development of novel therapeutics are the various reasons behind the growth and expansion of the US UTI Therapeutics Market. This market is predicted to grow at a CAGR of ~2% in the next five years.

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1. Increasing geriatric population: a major factor responsible for the growth of US UTI Therapeutics market

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The ageing or geriatric population has been constantly rising in the United States over the year. In 1980s, there were ~25000 elderly per 100,000, in 1990s, the number rose to ~32,000 elderly per 100,000. In 2000s, there were almost ~35000 elderly per 100,000. In 2010s, there happened to be ~40,000 elderly per 100,000. In 2020s, the number saw a massive rise and there were ~55000 elderly per 100,000. Lastly, there are expected to be ~70,000 elderly per 100,000 in the 2030s.

Now what is the connection between ageing population and UTI Therapeutics market?

The answer is UTI prevalence.

The prevalence of Urinary Tract Infection is 10% in women > 65 years and 30% in women > 85 years. The incidence of Urinary Tract Infection in older men is anticipated to increase 0.05 per person per year. When elderly have such high prevalence of UTIs, the ageing population becomes a major factor that contributes in the growth of the US UTI Therapeutics market.

As the ageing population rises, the prevalence of UTI cases also rises and as the UTI cases rise, there becomes the need to develop effective and efficient medicines to treat and reduce the prevalence of UTIs thereby accelerating the US UTI Therapeutics market.

2. Rise in government expenditure in the healthcare industry

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The United States government expenditure in the healthcare sector has been constantly rising over the years. The expenditure from government helps in accelerating the US UTI Therapeutics market as more and more start to go to doctors for common conditions like UTIs and pharmaceutical companies get more funds in developing medicines and vaccines.

The US government allocated a budget of around USD 3.4 Tn. in 2017, USD 3.6 Tn. in 2018, USD 3.7 Tn. in 2019, USD 4.1 Tn. in 2020, USD 4.2 Tn. 2021. The expenditure saw a massive hike of 10% in 2020 from 2019’s expenditure owing to Covid-19.

Expenditure helps not only in the growth of healthcare industries but also in the growth of the whole country. It also motivates people to seek medical help for common health conditions such as various infections. Moreover, it also helps in the development of various medications and vaccines by hospitals, research centers and pharmaceutical companies as they have enough funds available.

3. The rising use of health apps and websites: pumping the growth of US UTI Therapeutics Market

Telemedicine is trending. Nowadays mostly every doctor and hospital are going online. Telemedicine is not only convenient for doctors but also for the patients.

People in the US have been accepting and adopting Telemedicine and related applications pretty well. Moreover, UTI is a health condition that may let people feel a little embarrassed in directly going to the doctor. Thus, they may feel more comfortable in communicating with people over telephone or internet.

32% people in 2019, 43% people in 2020, 51% people in 2021, and 43% people in 2022 accepted Live Video to talk to doctors regarding their medical problems.

64% people in 2019, 47% people in 2020, 45% people in 2021, and 47% people in 2022 accepted Live Phone to communicate their medical concerns.

Telemedicine has allowed people to freely reach medical experts whenever they are   comfortable. When people reach out to doctors for their medical problems especially Urinary Tract Infections, it becomes easier to doctors find out the infections rates, what medicines are working and what are not, and helps in further developing medicines by keeping in mind the body demands of the people, which ultimately helps in the growth of the US UTI Therapeutics Market.

4. Focus on the development on novel therapeutics: pumping the US UTI Therapeutics market

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Urinary Tract Infections are primarily treated by the use of antibiotics. They are highly efficient in treating Urinary Tract Infections. However, this is not the case for everyone. Antibiotics resistance is a major problem in the treatment of Urinary Tract Infections.

Antibiotics resistance can be best described as a situation wherein the bacteria tend to change their response to the use of antibiotics. In simple words, it means that bacteria are able to live and survive despite the use of antibiotics which are supposed to kill them.

Approximately 90% of urinary tract infection causing bacteria have become resistant to at least 1 antibiotic and approximately 80% of bacteria happen to be resistant to at least 2 antibiotics. This pose as a major problem as the effective antibiotics can no longer be used in the treatment of Urinary Tract Infections.

This results in the need for the development of novel therapeutics for the treatment of UTIs. Now doctors, scientists and pharmaceutical companies are looking for alternative treatment methods to treat UTIs.

Nowadays, there are various vaccines available to treat UTIs that are not antibiotic in nature. Some of these vaccines are ExPEC4V, Uro-Vaxom, Uromune, Urovac, etc.

Various herbs such as Armoraciae rusticanae, Tropaeoli majoris, Agropyron repens and Zea mays were also found to be effective in treating Urinary Tract Infections.

The need to further develop novel therapeutics due to rising antibiotic resistance helps in the growth of US UTI Therapeutics market as antibiotics are losing their efficacy and doctors, scientists and pharmaceutical have to find alternative ways of treating UTI thereby accelerating the US UTI Therapeutics market.

Companies covered in the Report:

• Pfizer
• Bristol Myers Squibb
• Johnson & Johnson
• AbbVie
• Merck & Co.
• Dendreon
• Zydus Pharamceuticals

Key target audience

• Therapeutics companies
• Potential market entrants
• Government bodies and institutions
• Healthcare research institutes
• Hospitals
• Patients
• Investors
• Venture Capitalists
• Medical educational institutes

Time Period Captured in the Report:

• Historical period: 2017-2022
• Base year: 2022
• Forecast period: 2022-2028

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US Urinary Tract Infection Therapeutics Market

5 Tips to Identify the Perfect Customer Cohorts for Your New Product Line: Ken Research

 It is always an exciting journey for any brand to launch a new product line. But knowing your audience inside out is one of the critical aspects of success. By pointing to the right cohorts of your targeted consumer, you can tailor your marketing efforts and product features that resonate with your consumers. So, how can you identify those cohorts? Here is a list of 5 ways that can enable you to tap perfect customer cohorts for your new product line.

1. Data-Driven Demographics:

To identify the segments that align with your product line, begin with demographics. Determine the age, gender, location, income, and education of your targeted consumer.

For example, Apple identified a cohort that focused on a more budget-friendly iPhone option without compromising performance. So, they introduced the iPhone SE that targeted individuals who look for the latest technology in a smaller affordable package. That’s how Apple catered to a specific segment of the market after understanding this cohort’s preference for a compact and cost-effective device.

2. Psychographic Profiling:

Demographics are important but if you want to flourish in the market, it is not enough. You need to delve into psychographics- the attitudes, values, and lifestyle choices of your potential consumers.

Lululemon, the activewear brand that is known for its premium women’s activewear, diversified its product line to include men's activewear as well. It is because they recognized the rising cohort of health-concern males seeking stylish yet comfortable workout apparel. That’s how Lululemon tapped into a previously underserved segment, and capitalized it.

3. Behavioral Patterns:

The third comes to behavioral patterns. It is another important way to determine the right cohort. Examine consumer behavior to unleash some actionable insights. Just like Beyond Meat did.

Beyond Meat analyzed a cohort of environmentally and health-conscious individuals who were looking for alternatives to traditional meat. That’s when they launched plant-based burgers that replicate the exact taste and texture of meat. This also addressed sustainability and health which became one of the attributes behind the success of Beyond Meat. They wonderfully created a product line that served the requirement for ethical and nutritious food options.

4. Pain Point Prioritization:

Addressing the pain point of your customer and offering them the right solution is the best way to thrive in the market. Hence, identify the issues or challenges that your services or products can resolve just like Peloton did.

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It recognized a cohort of fitness enthusiasts who seek a convenient and engaging place for workouts and that’s it. Peloton launched a wide range of connected exercise equipment and online classes that cater to consumers who prefer personalized fitness experiences from the comfort of their homes. This resulted in the rapid growth and success of the brand.

However, not everyone gets lucky in tapping the whitespaces in the market. That’s why over 500+ CXOs chose Ken Research to enable them to identify the consumer’s challenges and make a successful business by offering solutions to those issues.

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5. Social Influences and Networks:

While you are trying to find out cohorts, it’s important to consider the social dynamics that may influence your key audience or clients.

Casper an e-commerce company that sells sleep products online and in retail locations, spotted a cohort of young adults, especially millennials who appreciated convenience and a seamless online shopping experience. And there they disrupted the whole mattress industry by launching memory foam mattresses in a compact box and leveraging a direct-to-customer model. This helped Casper gain a strong foothold in the market simply by offering this cohort’s preferences for hassle-free purchasing.

To sum it all up, understanding your consumer cohorts is an excellent way for launching a successful new product line. Several brands have demonstrated the impact of applying these strategies in various contexts and you can do it. Just make use of data, understand psychographics, focus on customer behaviors, address their pain points, and not to forget, consider their social dynamics. Doing this will surely help you tailor your strategy to resonate with a specific group and make a significant business impact. In case, you need some consumer data to back your business strategy, consider Ken research to get some authentic customer insights. Visit the website now.

The Thailand Car Mobility-as-a-Service Market is expected to contribute USD ~2500 Mn by 2027 owing to contactless car-sharing, online booking and government regulations: Ken Research

Ecosystem of Car Mobility-as-a-Service Market in Thailand

Thailand Car Mobility-as-a-Service Market is at growing stage with highly fragmented market with more than 2,000 players in the market. All players are competing against with each other on the basis of base fare, avg ticket size, waiting time, fleet size, no of drivers, daily rental price and revenue.

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Key Findings

• Newer business models such as ride hailing and car sharing that integrate well with shared mobility ecosystem like public transport are expected to achieve high growth.

• The boom of travel and tourism industry will also lead to rise in demand for car rental and leasing as tour operators and hotels will increasingly offer private car rental to their customers for which they lease their fleet.

• Increased demand for leasing from corporate sector will lead to steady growth rate of fleet size of leasing companies in Thailand.

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Growing tourism: The demand for car mobility services has grown over time as a result of rising international and domestic tourism, as these services are practical for commuting inside cities and have clear pricing. The introduction of LTR Visa will make it simpler for tourists with high spending levels to remain in the nation for longer. Through a variety of specialized marketing initiatives, the nation is casting a wider net in an effort to draw a wider range of tourist demographics.

Online Car Rental Booking Services: As moving toward digitalization improves operational revenues as well as customer experience, online companies will become more and more popular in the provision of car mobility solutions.

Technological Advancement: The primary drivers of the growth of the nation's car rental services will be preferences for the use of technologically advanced personal vehicles coupled with an increase in disposable income.

Smartphones Proliferation: Proliferation of smartphones has gone from 80% to 81% and internet penetration has increased from 85.3% to 92% over the period of 2021-2022, which has led to considerable growth for mobile application-based business models. This will not only make these services more accessible but also more affordable with increased competition and transparent pricing.

Analysts at Ken Research in their latest publication “Thailand Car Mobility-as-a-Service (MAAS) Market Outlook to 2027- Driven by Rising tourism, technological developments and booming automotive manufacturing” observed that Car Mobility-as-a-Service Market in Thailand is at growing stage. The consumer preferences, internet and smartphone penetration, growing tourism with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at an 6.1% CAGR during 2022-2027.

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Thailand Car Mobility-as-a-Service (MAAS) Market Outlook to 2027

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Middle East Metal Working expected to reach $5 billion by 2028: Ken Research

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As the Middle Eastern countries develop their manufacturing & automotive units, there’s a surge within the metalworking industry of the region.

Amidst the transformative winds of 2023, the Middle East is in the midst of an infrastructure renaissance. Landmarks like Dubai's climate-controlled URB Bridge and the UAE National Railway Network stand as testaments to this era of advancement. As the region invests heavily in construction and transportation, the demand for metal fabrication and processing intensifies, fueling the growth of the metalworking industry.

Story Outline

• In 2023, the Middle East's vigorous infrastructural investments, exemplified by projects like Dubai's URB Bridge and the UAE National Railway Network, underscore the region's commitment to modernization.
• Middle Eastern governments are steering their countries toward industrialization and economic growth. With policies like Dubai Industrial Strategy 2030, initiatives like the UAE Programme and transformative events like StreetFab, all these propel digital transformation and local innovation in the metalworking sector.
• The shift from oil dependency to manufacturing is reshaping the Middle East economy. Countries like Saudi Arabia are forging agreements with global partners to expand their manufacturing capabilities, resulting in a surge in metalworking needs to support various industries, including automotive and electronics.
• According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

1. Middle East’s Infrastructural Investment Fuel Metal Industry Boom.

Tata Steel Middle East Metal Works Size

UAE Rail Network Map, 2023

The year 2023 is seeing various kinds of infrastructural investment made across the Middle East areas, like the URB Bridge in Dubai, which is a climate-controlled year-round structure designed to promote cycling & walking as a primary mode of transport.  The UAE National Railway Network was set up at the main center for Control & Maintenance in Al Fayah region of Abu Dhabi.

Countries in these regions are heavily investing in construction of new buildings & means of transportation. It shows how these projects require significant amount of metal fabrication & processing, driving demand for metalworking products & services.

2. Government’s Led Industrial Boom: Dubai’s Vision & High-Tech Innovations

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Objectives of Dubai Industrial Strategy, 2030

Governments in the Middle East countries are known for investing towards initiatives involving industrialization, economic growth & job creation. Countries like Dubai have been scaling up their efforts to become an industrial hub, which is in line with the Dubai Industrial Strategy 2030. This policy aims to improve the industrial growth of the region & to promote research & development.

With policies which aim to speed up the digital transformation of the industrial sector, trade events like StreetFab have emerged as a game changer for the metal working industry in UAE & the Middle East.

Moreover, government initiatives like UAE Programme aims to develop 1,000 technological projects are launched to promote innovation, research & development enhance local supply chain.

According to Ken Research, the Middle East Metal Working Market is projected to reach $5 billion till 2028, owing to the increase in the construction & manufacturing industry which demands metal working functions like machining, welding, casting, forging which are useful to transform raw material to finished products.

3. Forging Skilled Futures: MEITI & Mont Royal Elevate Middle East Metalworking

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Top Skills Required in Middle East regions, 2022

As the demand for metalworking industry starts increasing, inevitably there is a need to have skilled employees who can perform the technicalities of the given job. In Middle East, there are institutes like the Middle East Industrial Training Institute (MEITI), Mont Royal Elevate in Abu Dhabi, are renowned for providing internationally accredited training provider of technical, management & skills training courses.

Investment in training & skill development programs can help in meeting on-the-job demands & ensure a capable workforce.

4. From Oil to Innovation: Middle East's Industrial Renaissance Fuels Metalworking Surge

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Automotive parts which require metal working

As the Middle Eastern countries have stopped their dependence on oil industry, they’re gradually increasing their manufacturing capabilities. In January 2022, Saudi Aramco announced 50 preliminary agreements with local & international companies including Honeywell, Larsen & Turbo & Sutherland Global Services, as a part of In-Kingdom Total Value Add (IKTVA) drive to increase the volume of goods and services produced in Saudi Arabia.

Metalworking forms a crucial part of the manufacturing industry, including automotive, electronics etc.

5. Middle East Automobile Boom Drives Surge in Metalworking Demand

Demand for new vehicles in the Middle East & Gulf regions (excluding Iran) has increased by 22.3% in December 2022. In 2021, Saudi Arabia led the region when it comes to increasing sales in terms of passenger & commercial car sales. Turkey & Iran are two countries which have been dominating in automotive productions & they focused on producing passenger cars followed by light commercial vehicles.

More cars produced means increasing demand for engine parts, hinges, body panels etc. which demands metalworking products.

Conclusion

In the heart of the Middle East's rapid evolution, the convergence of infrastructural investments, governmental initiatives, and shifting economic landscapes marks the onset for a resounding metal industry boom.

As nations diversify their economies, embrace innovation, and invest in skilled training, the demand for metalworking products and services will certainly reach new heights.

This transformative journey from oil reliance to manufacturing prowess underscores the region's determination to shape its destiny through industrial growth and innovation.

Top 4 US Loan Servicing Companies And Their Strategies In US Loan Servicing Market: Ken Research

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US Loan Servicing Market is growing due to advanced digital practices and technological advancements. The market is loaded with numerous loan servicing companies that offer a variety of services according to today’s modern needs. Let’s have a look at some of the top companies and their strategies.

Story Outline

• Fiserv Inc.: One of the FORTUNE’S most admired companies of 2023, a leading global technology provider in the financial services industry, pushing innovation in payment processing, risk and compliance, customer and channel management, and business insights and optimization.
• Notridge Software LLC: A powerful cloud-based, on-premise loan servicing system, that wants to provide you with a versatile and powerful toolkit so you can easily originate and service loan portfolios.
• Shaw Systems Associate: The leader in Loan Servicing Software for over 50 years, that has specialized in loan servicing software since 1967, with a goal to serve financial institutions by using its significant knowledge in software development to offer scalable and automated solutions through a customizable user-friendly interface.
• Constellation Mortgage Solutions: A loan servicing system, that initiates class infrastructure, which has more than 30 years of stability and experience, which enables a full range of loan servicing solutions, from cashiering and payment processing to escrow management, investor reporting, and default management.

The Loan Servicing Market of US is driving growth at an amazing level. This surge is a result of constant increase in digital transformation practices, coupled with rapid growth of fintech startups, population growth and urbanization, and adoption of cloud computing model. Various Loan Servicing companies are actively shaping this growing market with their strategies and innovations.

1. Fiserv Inc.

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Fiserv, Inc. is a leading global technology provider in the financial services industry, pushing innovation in payment processing, risk and compliance, customer and channel management, and business insights and optimization.

The corporation has operations in the United States and Canada, Europe, the Middle East and Africa, Latin America, and Asia Pacific. Fiserv's headquarters are in Brookfield, Wisconsin, in the United States.

Fiserv is employing around 10,000 people, has around 73 offices throughout US and, is serving thousands of financial institutions and millions of businesses in more than 100 countries.

Fiserv says, "Our purpose is to deliver superior value for our clients through leading technology, targeted innovation, and excellence in everything we do." They see achieving excellence and inspiring others as their primary goals for success.

One of FORTUNE's "World's Most Admired Companies" for 2023 is Fiserv. The companies with the best reputations both within and across industries are identified in this esteemed yearly list. Additionally, Fiserv was honored for its excellence in people management, corporate asset utilization, corporate social responsibility, management quality, long-term investment potential, and product and service quality.

Tata Motors Finance, one of India's leading auto finance companies, has partnered with Fiserv, a provider of global payments and financial services technology solutions, to strengthen its digital lending capabilities and improve customer experiences.

Amazon and Fiserv launch a rewards collaboration. Through this partnership, cardholders at banking institutions that are enrolled in both the Amazon with Points and the uChoose rewards programs will be able to easily redeem rewards points for all or a portion of their qualifying purchases at the point of sale.

2. Nortridge Software LLC.

Nortridge is a cloud-based and on-premise loan servicing system. It serves government agencies, branch-based lenders, vehicle finance companies, and consumer finance lenders. The system’s key features are Enterprise-grade security, precise setup choices, loan automation, and workflow management.

Nortridge is a team of around 200 people providing a user-friendly platform to its users worldwide. At the start of 2023, the company witnessed, that globally around 50 new companies started using Nortridge software as a loan servicing tool.

The company promises “Lenders and services shouldn't be required to modify their operations to take advantage of a software platform's features. The order should be reversed. In order to support your company in achieving its objectives, Nortridge Loan System works to align with your business requirements. The result of many years of asking the appropriate questions and paying attention to our clients is NLS. The system wants to provide you with a versatile and powerful toolkit so you can easily originate and service loan portfolios.”

Payix, a REPAY company and the nation's top provider of borrower-facing communications and collections tools announced the growth of its exclusive partnership with Nortridge Software, in 2022, to offer Nortridge customers online cash payment acceptance, or eCash.

3. Shaw Systems Associates, LLC

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The leader in Loan Servicing Software for over 50 years, that has been specialized in loan servicing software since 1967, Shaw Systems, is a reputable leader in this field.

Customer support, delinquency management, recovery, and placement are some of the ways that their technology controls every stage of the servicing life cycle. They provide seamless support for the needs of the borrower, dealer, internal staff, and management through completely integrated loan servicing system. Numerous software systems for servicing consumer loans are supported by Shaw. Their tools include built-in functionality for automating procedures and navigating the changing credit market. Shaw Systems provides help for loans, credit lines, direct and indirect commitments, floor plans, securitization, and insurance products.

The company's goal is to serve financial institutions by using its significant knowledge in software development to offer scalable and automated solutions through a customizable user-friendly interface. In order to provide lenders with electronic bill payment options that cater to the needs of every consumer segment, PayNearMe and Shaw Systems Associates, LLC have expanded their partnership.

According to Chris Shaw, CEO of Shaw Systems Associates, LLC, "In the fiercely competitive consumer lending market, reliability and innovation are essential for lenders to differentiate themselves and succeed."

“Our enhanced PayNearMe integration enables lenders to collect both cash and electronic payments on a single platform, right from the Shaw platform interface.”

4. Constellation Mortgage Solutions

Constellation Mortgage Solutions is a loan servicing system, that initiate class infrastructure, which has more than 30 years of stability and experience, which enables a full range of loan servicing solutions, from cashiering and payment processing to escrow management, investor reporting, and default management.

CMS gives your staff more freedom to swiftly adjusts to new rules, that can be tailored to your particular workflow. All the tools and integrations you require to maintain operations within the CMS enterprise platform are included in our highly customizable solutions.

CMS, which is a portfolio of market-leading financial technology solutions in the mortgage space, announced on February 10, 2022 that it has acquired ReverseVision, Inc., an award-winning provider of Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales origination software. The acquisition includes ReverseVision’s core platform, ReverseVision Exchange (RVX), RVDOC Composer (RVDOC) which provides customized and compliant reverse mortgage documents, and ReverseVision Sales Accelerator (RVSA) which includes advanced loan modeling and comparison tools.

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US Loan Servicing Market

Qatar Lubricants Landscape: Pioneering Growth, CAGR Dynamics, and Trailblazing Trajectories: Ken Research

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With a steady sales volume CAGR of 2.6% (2022), induced by important factors like fluctuating crude oil prices and infrastructure development, the market reflects resilience and adaptability.

Storyline

• Resilient Growth Dynamics: Qatar lubricants market, CAGR 2.6% in 2022, influenced by oil price shifts and inflation rate trends.
• Diverse Growth Drivers: FDI influx, automotive electrification, manufacturing focus, and tourism boost shape industry trajectory.
• Market Landscape: Top players dominate, automotive sector key, QALCO's rise, EV transition, and eco-friendly lubricants anticipated.
• Sustainable Future: Vision 2030, CAGR 1.9% by 2027, hinges on renewables, manufacturing expansion, stringent norms, and industry innovation.
• As per ken Research, As Qatar strides towards its National Vision 2030, it is poised to grow at a CAGR of 1.9% by 2027, driven by renewables, manufacturing, and environmental standards.

1.Surging Growth, Inflation, and Key Drivers

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The Qatar Lubricants Market has demonstrated an upward trajectory, showcasing a robust growth from 2017 to 2022 & registering a volume-based Compound Annual Growth Rate (CAGR) of 2.6%. The market's growth has been influenced by the spontaneity of crude oil prices which resulted in shifts in lubricants demand as well as revenue patterns.

Qatar's inflation rate also witnessed a notable increase, climbing from 2.30% in 2021 to 4.96% in 2022. Additionally, an increase in construction activities has fueled the demand for commercial vehicles and construction equipment.

Key growth drivers encompass significant factors including the FIFA World Cup 2022, industrial innovations, rising foreign investments, emphasis on manufacturing, and an increasing demand for rental cars.

2.Key Players and Market Overview

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The Qatar Lubricants Market has a moderately consolidated pattern, with the top five companies collectively occupying around 48% of the market share. Key players in this arena include ExxonMobil Corporation, Qatar Lubricants Company (QALCO), Royal Dutch Shell PLC, Total Energies, and Valvoline Inc.

That being said, the major focus of the market having more than 100 lubricants manufacturers is on automotive sector. In 2020, the Qatari lubricants market witnessed a significant dominance by the automotive sector, constituting around 56% of the total lubricant consumption in the country. This underlines the pivotal role of the automotive industry in shaping the lubricants landscape.

3.Stable Growth, EV Transition, and Regulatory Shifts

The present lubricants market in Qatar showcases steady growth, with a projected continuation of this trend in the medium to long term. Notably, substantial investments have been infused into key sectors such as construction, transportation, and manufacturing, attributed to the forthcoming FIFA World Cup 2022.

Moreover, the growing prominence of Qatar Lubricants Company (QALCO) as a domestic manufacturer has introduced heightened competition against foreign counterparts. As the automotive sector experiences a gradual shift towards electrification, a fresh avenue emerges for specialized Electric Vehicle (EV) greases and fluids.

 In line with environmental concerns, the government is anticipated to enforce more stringent regulations, fostering the adoption of eco-friendly lubricants. These multifaceted developments collectively shape the landscape, with Qatar's lubricants industry poised for ongoing growth and transformation.

4.Diversified Growth Drivers Fueling Expansion and Industrial Advancements

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The growth pattern of the Qatar Lubricants Market is fueled by a plethora of key drivers, including the diversification of the oil-dependent economy, increasing Foreign Direct Investment (FDI) influx, surging demand for rental car services, and the rising emphasis on the manufacturing sector. The Qatari government's strategic move to advance domestic manufacturing through the Qatar Manufacturing Strategy 2018-2022 has underlined the importance of sectoral growth, majorly in areas like polymers, plastics, aluminum, additive manufacturing, food & beverage, and pharmaceuticals.

The thriving tourism sector, with around 1.4 million global tourists in 2022, propelled an increase in car rental services. Moreover, Qatar's role as the host of the FIFA World Cup 2022 attracted substantial FDI for infrastructure and industrial development thereby driving construction activities and increasing the demand for lubrication-intensive machinery.

The progressive diversification of the economy from oil-dependency paired with strategic initiatives such as Free Trade Zones (FTZs) and enhanced export capabilities, has enhanced industrialization, further strengthening the market's growth prospects.

5.The Future Potential

The trajectory of Qatar's lubricants market points to advancements at a steady CAGR of 1.9%. In tune with Qatar National Vision 2030, important investments have been made for diversifying the economy beyond oil. This transition is paving the way for major lubricant demand avenues.

 The focus on establishing world-class infrastructure alongside robust logistics facilities is expected to fuel the requirement for new commercial vehicles and heavy machinery, inducing lubricant consumption. Moreover, major investments in petrochemicals, manufacturing, and logistics sectors are expected to enhance lubricant requirements in machinery, processing plants, and transportation fleets.

The stringent global emission norms and environmental standards for machinery and vehicles are anticipated to heighten the demand for eco-friendly lubricants, fostering sustainability in the industry.

Conclusion

In a unique blend of economic diversification, strategic investments, and evolving consumer trends, Qatar's lubricants market has started a transformative journey. With a steady CAGR of 2.6% (2022), induced by important factors like fluctuating crude oil prices and infrastructure development, the market reflects resilience and adaptability.

As Qatar strides towards its National Vision 2030, it is poised to grow at a CAGR of 1.9% (2022), driven by renewables, manufacturing, and environmental standards. The interplay of automotive electrification, regulatory shifts, and industry innovation augments its growth, promising a future fueled by sustainable practices and promising prospects.

US Location Analysis Market expected to reach $7 bn till 2027: Ken Research

 United States is one of the largest markets of location analysis across the world which uses it across various domains like healthcare, marketing, security, urban planning etc. to provide the best services to their consumers.

Location analysis is an essential part of business decision making & providing innovative & value-based solutions have significant potential for success. The process of location analysis involves data collection, data processing & integration, spatial analysis & data visualization. Geographic Information System (GIS) plays a crucial role in enabling the storage, manipulation & analysis of spatial data for location analysis.

STORY OUTLINE

• Street Light Data in San Francisco uses Internet of Technology (IoT) and location data from various other connected devices to analyse mobility behaviour & improve travel conditions in cities.
• Esri technology empowers retailers to understand consumer behaviour & preferences in physical spaces. By analysing data from different markets, a retailer could identify areas with a high concentration of online consumers & use demographic data to develop an omnichannel strategy, leading to increased revenue & market potential.
• Geospatial analysis in smart city projects like Geo hub in Los Angeles & Block faces in New York city, helps optimize urban infrastructure & resource allocation. Open data & location-based insights play a crucial role in identifying challenges & planning effective solutions for city needs.
• According to Ken Research, the US Location analytics market is expected to reach $7billion till 2027, since various industries are utilizing the location analytics mechanisms in order to customize their services, as per the customer.

1. Leveraging Location Data & IoT for Mobility & Security Solutions in Leading Cities

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Many cities & leading companies have been using connected devices, Internet of Things (IoT) has generated a massive amount of data with location information. A leading company, Street Light Data in San Francisco, analyses ‘mobility behaviour’ by using data provided by smartphones, GPS devices, connected cars & commercial trucks to name a few devices. All these create location records when they ping cell towers & satellites.

In California, Cisco uses location monitoring technology to let the user access the live feed of any security camera to assess security conditions. They can also collect the data to predict the patterns of crime & even social media was monitored for potential threats.

An IoT device is useful towards collecting data, with the help of GPS sensor as it passes down the information from MCU (Microcontroller) or Single Board Computer where data is processed & data can be transferred to a gateway or cloud through Wi-fi communication.

2. Location Analytics Empowering Retailers for Omnichannel Success

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Another major area of application for location analytics is, to understand consumer behaviour & preferences in physical spaces. Since online sales are strong in Austin, Texas, a retailer expressed their desire to open a retail store, to develop an omnichannel strategy using Esri technology, since data collected from other markets showed a 22% increase in revenue.

By ZIP code, the data showed where online customers are concentrated & where to find more like them, to provide an understanding about the market in general. Based on insights about the population, the retailer added the demographic data into the Business Intelligence platforms, providing easy access to enriched data for market potential.

On the basis of the metrics discussed above, the Austin retailer-built sales model based on the size of market & growth based on population projections for the region.

According to Ken Research, the US location analytics market is forecasted to reach 7 billion dollars till 2027, since many businesses are realizing the importance of utilizing location-based technology to understand their consumers in a better way.

3. Los Angeles & New York Lead in Data & Geospatial Analysis

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Many US cities have been investing in various smart city projects, which involve the usage of data & technology to improve the urban infrastructure & services. The City of Los Angeles has been a long pioneer in open data.

One of their initial projects included launching a site dedicated to exploring, visualizing & downloading location-based open data via a Geo hub. Geospatial analysis plays a crucial role in identifying the challenges faced in the city.

In New York city, the government use Block faces, where they set parking meter rates across the boroughs to be reflective of individual parking rates condition such as land, use, density & parking demand. Individual parking rates across each meter is represented by block face segments. All in all, location analysis plays a role in optimizing city planning & resource allocation.

Location analytics helps in interpreting the information based on geographical context to gain insights, patterns & trends that may not be dependent without examining data from the spatial component.

4. Unleashing Health Insights: CARTO’s Location Analysis for Better Care

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Location analytics is increasingly being employed in the public health sector to map disease outbreaks, identify high risk areas & optimize healthcare resource distribution.

CARTO, a cloud native location intelligence & geographical information software (GIS) in New York, provides spatial analysis which identifies which location factors may be the root cause for certain health problems which can easily improve outreach, services & interventions while providing a detailed picture of healthcare access. Their services are applicable for hospitals, primary care, residential homes & dental clinics.

Conclusion

Location data & IOT technology have transformed mobility, security, retail, urban planning & healthcare services. Companies like Street Light Data, ESRI & COSCO have harnessed this data to optimize travel, enable omnichannel success & improve city planning & healthcare outcomes. The integration of geospatial analysis has empowered cities & businesses to make informed decisions based on actionable insights, making our world smarter & efficient.