Lactose Free Dairy Products Market Share, Analysis, Industry Report and Forecast to 2025

The global dairy industry is witnessing continual growth in terms of production and availability of diverse dairy products across all major regions. Owing to the popularity of consumption benefits of dairy products, at least one dairy product is being consumed by an individual on a daily basis, globally.  This has in turn enabled many consumers to detect lactose intolerance, which does not allow proper digestion of dairy products. According to the data in 2019, around 65-70% of the global population is expected to be lactose intolerant.

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Most of the consumers who face indigestion due to lactose intolerance go unnoticed and ignore the symptoms of the same. Many dairy consumers have also stopped consumption of dairy products to avoid uneasiness. This is evident from the declining milk consumption levels globally. For instance, in the U.S., milk consumption has plummeted by over 40% from 1975 to 2019, with consumption of 247 pounds per capita in 1975 to 149 pounds per capita in 2019. This has given rise to the popularity of lactose-free dairy products, which act as a solution to the growing lactose intolerance globally. Dairy products that are commonly used regularly are widely available in their lactose-free variant. These include milk (both white milk and flavored milk), yogurt, cheese, and milk powder, among others. The most upcoming product categories under lactose-free dairy products include ice creams and dietary supplements.

The increasing levels of lactose intolerance in the global population, urbanization, and disposable income have generated the need for consumption of suitable dairy products, such as the lactose-free dairy products. The healthy living and lifestyle trends amongst the affluent urban population also contribute to the adoption of lactose-free dairy products as a symbol of status in the society. In many countries, the growing café culture is a driving force behind the consumption of lactose-free dairy products, especially milk.  Awareness about the benefits of lactose-free dairy products, such as ease in digestion, has influenced many consumers toward a wider consumption of lactose-free dairy products.

The demand for lactose-free products has enhanced multi-fold over time, with many consumers opting for the same even after self-diagnosis of lactose intolerance. Though low levels of awareness prevail in weaker economies, the need for such products has been growing exponentially. Since lactose-free dairy products are sold at premium prices, the consumer perception attached to the same involves a sense of following a trend accompanied with healthy living. Thus, many affluent sections of the population are actively opting for the same since consumption of premium products reflects a status symbol for the consumers.

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The growth in the global lactose-free dairy products market is attributable to the increasing demand for innovative and suitable dairy products. Generally, lactose-free milk, as compared to other lactose-free products is a more recognized, globally. This is because milk is consumed regularly as compared to other dairy products, thus substitution of the same is easier for consumers. Other dairy products, such as yogurt and cheese are gradually expected to be widely accepted in their respective lactose-free variants by consumers during the forecast period. In general, the market for lactose-free dairy products is expected to rise in regions with high incidence of lactose intolerance, owing to increasing consumer awareness toward their need for fulfilling basic nutritional requirement.

The business expansion strategy has also been significantly employed in the lactose-free dairy products market. With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. Key players are also engaging in business expansions, in regions where there is a strong demand for lactose-free dairy products. Industry leaders in this market are actively opting for this strategy to improve their market position. For instance, in February 2020, Arla Foods set up a new dairy plant in Sweden to export lactose-free dairy products to the U.K.

Various industry associations and companies, owing to an increase in the exposure to global competitors and dairy players, are expected to augment the global lactose-free dairy products market. The increase in the adoption of lactose-free dairy products is mainly attributed to solving the problem of lactose intolerance amongst consumers.

Animal Genetics Market Growth Data Analysis 2019-2024

Genetic engineering in the animal genetics industry is mostly done for poultry animals, which are followed by cattle and swine. Increasing population and rapid urbanization, increasing demand for animal protein, rapid adoption of genetic services and practices such as artificial insemination and embryo transfer for large-scale production and quality breeds are the factors supporting the growth of animal genetics market.

Among all the countries, the U.S. generated the highest revenue of $2.20 billion in 2018. The U.S. is one of the leading countries in the North America animal genetics market, constituting a share of 73% in 2018. The U.S. is one of the most flourished economies of the world with enormous food making capability. The consumers of the U.S. constantly demand for highly enriched food. Hence, the products of livestock breeding industry such as eggs and meats from genetically engineered poultry and pork, respectively, have gained popularity in the country in the past few years.

The competitive landscape for the animal genetics market demonstrates an inclination toward companies adopting strategies such as mergers and acquisitions, business expansion and contracts, partnerships, collaborations and joint ventures, and product launches. The major established players in the market are focusing on business expansion and contracts to increase their customer base and enhance their business and regional products segment, whereas the relatively less adoptive strategies comprise mergers and acquisitions. Hendrix Genetics BV, Cobb-Vantress, Semex, H&N International GmbH, Hubbard, Viking Genetics, Aviagen Group, and Mars Petcare are some of the prominent players in the animal genetics market.

Supported by increasing investments and technological developments, companies across the globe are working upon creating genetically modified animals with desirable characteristics, which can help in producing high-quality meat and milk, more efficiently and sustainably. The animal genetics market is witnessing gradual adoption of several upcoming technologies such as artificial insemination, sperm sexing, embryo transfer, and others, which are further propelling growth in the industry. The advent of IoT in communication technologies is expected to drive the market during the forecast period.

The global animal genetics market was valued at $6.25 billion in 2018 and is projected to reach $8.89 billion by 2024, growing at a CAGR of 6.24% from 2019 to 2024. Increasing consumption of animal derived protein, growing population and rapid urbanization, increasing adoption of genetic services to overcome genetic diseases in animals, coupled with increased adoption of genetic technologies, are some of the factors driving the growth of animal genetics market.

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The major solutions offered in the animal genetic industry include products and services. The product segment is further classified into live animals and genetic materials. The buyers of all products in the animal genetics industry are food manufacturers, dairy producers, beef traders, and suppliers of animal genetics stock to animal agriculturists. The services sector in the industry works in close coordination with the product sector, since the services offered in the animal genetics industry play a crucial role in executing efficient production process. The sector encapsulates services such as disease testing and trait testing for an animal agriculturist. The product type market is majorly driven by the increasing implementation of technological processes such as artificial insemination, artificial embryo transfer, upgraded bioinformatics with connected computer networks in the farm agriculture. This has helped in attaining transparency during the complete transfer of the data into producing efficient and enhanced production of genetically modified animals.

Impact of COVID-19 on Minimally Invasive Surgical Technology Ecosystem

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5G Substrate Materials Market Demand, Growth, Application, Opportunities, And Forecast To 2025

The 5G substrate materials market’s competitive landscape consists of different strategies undertaken by major players across the 5G industry to gain traction and market share presence. Some strategies adopted by 5G substrate materials manufacturers are new product launches, business expansions, partnerships, and collaborations. Among all strategies adopted, new product launches have been leading the choice of the strategy implemented in the competitive landscape. Some of the prominent players of the ecosystem are Dupont de Nemours, Inc., Rogers Corporation, and Panasonic Corporation.

Business expansions is another one of the preferred strategies adopted by the market players to enhance their production capacities, global footprint, and product offerings. For instance, in 2019, Panasonic Corporation established a new factory for developing substrate materials catering to the growing demand for 5G market in China.

The COVID-19 pandemic had a negative impact on various business segments of the supply chain in quarter one of 2020. The disruption in the supply chain is primarily due to national lockdowns and import-export shipment delays across the world. Countries worldwide have halted their 5G deployment work for Q1 and Q2 of 2020, plummeting the demand for 5G substrate materials in the manufacturing industry. The European countries have delayed the frequency auction for 5G networks across much of the region. Major European countries such as France, Spain, and Austria have postponed their 5G spectrum allocation schedule for late 2020 or 2021. Due to the COVID-19 situation, European countries and North American countries are witnessing cash flow issues and unclear revenue prospects, that are leading to cutbacks of technology deployment plans in the countries. China being the epicenter of COVID-19 pandemic, has recovered from the pandemic so far and is looking forward to starting 5G deployment at the earliest. The Chinese government is also actively pushing the deployment and infrastructure work for 5G, leveraging the vast manufacturing and 5G telecom companies of the nation such as Huawei Technologies Co., Ltd.

The end-use industry of the 5G substrate materials also has witnessed a dip in the Q1 and Q2 sales of the companies. The global smartphone market is expected to drop significantly due to the downfall in the global economies of leading countries of the various regions such as Europe and North America. The customers are not willing to spend their disposable income, fearing the current recession in the market. Industry players are expecting to get back on wheels, covering up for the starting quarters of 2020, latest by Q4 of 2020 or 2021, fueling the demand in the global ecosystem for 5G substrate materials.

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Countries are working on the deployment of 5G, curating various investment strategies, and collaborations in the market. More than 20+ countries across the world have access to 5G networks now. China, South Korea, and the U.S. are the top players deploying 5G at a breakneck pace in their cities. The key telecom players of various regions have been publicly announcing their 5G contracts for the deployment of 5G in their countries. For instance, North America has AT&T, Verizon, Sprint, and T-Mobile. Europe has a very fragmented telecom sector with a bunch of players such as Orange France, Swisscom, Vodafone Germany, and DiGi, among others. MEA has Zain, Etisalat, and MTN. APAC countries also have significant telecom players such as SK Telecom, SoftBank, LG U+, and Optus. These companies are collaborating with equipment manufacturers and suppliers such as Ericsson, Huawei, and Nokia to deploy 5G base station antennas in the base station towers. The growth in deployment of 5G base stations will automatically drive the demand for 5G substrate materials such as PTFE, PEEK, LCPs, and ceramics. These materials accelerate the performance of a 5G circuit board, enhancing the overall efficiency of the device. The shift toward 5G technology also affects the business development and commercialization activities of materials. Firms are aiming at entering the 5G material development segment, leveraging upon the growing demand in the market. Various companies with expertise in advanced chemicals and materials business segments have shown interest in venturing into the 5G substrate materials market. This is due to the high demand and growth prospects of the 5G business segment.

Autonomous BVLOS Drone Market Share and Revenue Research 2020 Forecast to 2029

The global autonomous beyond visual line of sight (BVLOS) drone market is expected to witness a significant growth in the forecast period 2019-2029, primarily due to a rising demand for drones in the commercial sector. The scope of study majorly focuses on the drones that operate in BVLOS. The drones are majorly used for several commercial applications and military operations, such as package delivery, inspection, ISR, combat targeting, as well as border security and surveillance by military and security agencies.

In VLOS, the operating range for drones is less than 1km while the drones goes beyond the 1km of range, it enters into the BVLOS range. For operating drones in BVLOS range, there are various restrictions imposed by the aviation department in various countries. Each country has its own set of rules for drone operations. For instance, Federal Aviation Administration (FAA) is the regulatory body for American Civil Aviation. The authority creates regulations for the use of drones in commercial applications. For operating UAVs in BVLOS for commercial applications, the operator has to take clearance certificate and after obtaining the certificate, there are also certain restrictions related to flying range and height of UAVs.

Initially, the drones took fleet for a short range of about 1Km distance from controller. In other words, the remote pilot had direct eye contact with the drones. This operating range of drones and UAVs is popularly known as visual line of sight (VLOS). But about an over the decade, the need for operating drones beyond VLOS range is proliferating due to increasing in demand from commercial applications such as package delivery, critical infrastructure inspection (rail, oil and gas, windmill), and others. These applications cannot perform at their fullest with drones operating in VLOS operations.

However, stringent regulatory framework and inadequate supporting infrastructure and technologies act as the major challenges for the market. The rising demand for drone delivery in commercial domain is expected to create viable opportunities for the BVLOS drone market. The growth of the autonomous BVLOS drones, is majorly due to the emergence of new commercial applications, increase in safety, and reduction inspection cost and monitoring applications. The growing need for enabling real-time intelligence, surveillance, and reconnaissance (ISR) information about the remote areas has become an essential need for military operations.

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The key players that are actively participating in the BVLOS drones include Flytrex Aviation Limited, General Atomics Aeronautical Systems, Inc., Insitu, Inc., Matternet, Inc., senseFly, Silvertone UAV, SmartPlanes AB, AeroVironment, Inc., Airbus S.A.S, BAE Systems, Elbit Systems Ltd, Israel Aerospace Industries Ltd, Northrop Grumman Corporation, Saab AB, and Textron Systems

The prominent players in the autonomous BVLOS drone market have adopted key strategies of product launches, contracts, mergers, and acquisitions to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion, among others. Also, the funding scenario in the drone market is quite noteworthy. Most of the funding is likely to come from sources such as seed money from the public sectors, investors, and companies with adequate cash reserves that are committed to drive the market and are willing to invest. Numerous investments have taken place in the recent past in the drone space, which shows a significant degree of interest of industry leaders in this market.

Precision Agriculture Market Segmentation, Industry trends and Development to 2025

With the exponential growth of the world population, the subsequent rise in the global demand for food, shrinking agricultural lands, and the depletion of finite natural resources, the need to enhance farm yield has become critical. Limited availability of natural resources, such as fresh water and arable land, along with slowing yield trends in several staple crops, have further aggravated the problem. Another looming concern over the farming industry is the shifting structure of the agricultural workforce. Moreover, the agricultural labor in most of the countries has declined. As a result of the declining agricultural workforce, the adoption of automated solutions in farming practices has been triggered in order to reduce the need for manual labor.

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To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions in the farming arena. These solutions are focused on helping farmers to fill the supply-demand gap, by ensuring high yield, increased profit, and protection of the environment. The approach of using information technology (IT) to ensure optimum utilization of resources in order to achieve high crop yields and reduced operational costs is called precision agriculture. Precision agriculture technologies comprise specialized equipment, software, and IT services.

The trend of precision farming is prevalent in not only developed countries but also developing countries. In countries such as China and India, large-scale deployments of smartphones and Internet of Things systems have led to the rapid adoption of precision agriculture solutions. Governments of several countries have realized the need for and advantages of these technologies. Thus, their initiatives to promote precision farming techniques are expected to drive the growth in the market. The adoption rate of precision agriculture technologies is impacted by many factors such as farm size, farmers age, features of equipment, characteristics of the technology, and legal affairs.

The wide-scale adoption of precision agriculture technologies is expected to enhance the potential return on investments (ROI) for farmers. The rising awareness, coupled with the increased governmental support for sustainable farming technologies, is expected to propel the market growth for precision agriculture. Precision agriculture technologies positively impact the agricultural value chain and create various disruptive business opportunities for various companies, such as agricultural machinery manufacturers, instrument developers, cloud service providers, and agri-input suppliers. The following figure represents the key strategic control points where precision agriculture approach plays a vital role.

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The competitive landscape for the precision agriculture market demonstrates an inclination toward companies adopting strategies such as partnerships & collaborations along with new product launches to introduce new technologies or developed further on the existing product portfolio. Moreover, acquisition activities have increased in the market during the last five years. Presently, the big four agricultural companies, namely Monsanto, DuPont, Syngenta, and BASF are constantly increasing their investment for the digitization of the farming sector, by acquiring or collaborating with the data sciences company. In September 2019, Corteva Agriscience and Pro Farm technologies announced a commercial agreement to develop a tool for farmers to stimulate plant growth and to improve plant health. In May 2018, ICL Ltd. partnered with CropX, to invest and develop advanced solutions for the agricultural sector, providing farmers with advanced soil sensor technologies and cloud-based analytics.

With the increasing growth in the global precision agriculture market, companies operating in the industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. For instance, in November 2019, Arable and BASF collaborated to improve the xarvio field manager for the farmers to help them in reducing pesticides. In February 2019, Trimble Inc. partnered with MagGrow for sustainable production and help growers in spraying through their innovative spraying technology.

Military Ground Vehicle Propulsion System Market Outlook, Trend, Growth and Share Estimation Analysis

Active propulsion systems in military ground vehicles are powering the vehicles with full capability, however, there still exists a need for advancement toward more electric and hybrid systems which can reduce maintenance cost, idling, fuel use and emissions on a relatively faster pace. Transporting fuel for the battlefield through dangerous routes over long distances is a factor that adds up the fuel cost significantly. It may range from $1 per gallon in a regular civilian situation to $400 per gallon during battlefield. In case of the requirement of airlift, the fuel cost may reach up to $1,000 per gallon especially in warzones. Thus, advanced engines (including electric and hybrid propulsion systems) which may contribute to huge fuel cost saving coupled with elimination of acoustic noise and electromagnetic interference (EMI) levels are expected to achieve greater market penetration during coming decades.

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Owing to increased survivability requirements, increased protection measures have been assimilated to the military vehicles which increase overall vehicle weight and in turn lead to decreased reliability, fuel efficiency, and associated vehicle transport capability. Further, burgeoning weight of armor and weapons have also forced the engines to become larger and making the vehicle heavier. Such heavy-weight vehicles have created the need to bring about advancements toward establishing state-of-the-art light-weight military vehicles.

Also, increasing conflicts, political instability, and terrorism activities, coupled with increasing border instability force countries to strengthen their military ground vehicle capabilities. Therefore, the defense forces of various countries including the U.S., India, China, the U.K., Poland, and others are increasing their budget for procuring military ground vehicle with advanced engines for their military personnel. On October 2019, BAE Systems, Inc. debuted Robotic Technology Demonstrator (RTD) unmanned ground vehicle which features autonomous mobility with hybrid electric drive for fuel efficiency to support situational awareness and reconnaissance.

The global military ground vehicle propulsion system industry is one of the most competitive industries with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the military ground vehicle propulsion system industry exhibits an inclination toward emerging strategies and developments by market players.

The key players that are actively participating in the military ground vehicle propulsion system market include General Dynamics, QinetiQ Group, Israel Aerospace Industries (IAI), BAE Systems, Lockheed Martin, Northrop Grumman Corporation, Oshkosh Corporation, Harris Corporation, Rheinmetall AG, Epsilor-Electric Fuel Ltd, Leonardo S.p.A, Cummins Inc, Caterpillar Inc, General Motors Company and MTU Friedrichshafen GmbH.

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The prominent players in the military ground vehicle propulsion system market adopted strategies of product launches, partnerships, collaborations and contracts, and other strategies to expand their business. The companies are also involved in some of the other developments that include mergers and acquisitions, facility expansion; product extension and upgradation, and funding to develop advanced systems for vehicles. Due to the intensive competition, the military ground vehicle propulsion system industry requires manufacturers to constantly innovate and develop cost-effective engines with the existing and forthcoming industry standards for various military applications. The market is likely to grow rapidly with the developments in new and remanufactured engines with longer endurance and efficiency.

U.V. and Blue Light Blocking Coatings Market to Witness Astonishing Growth By 2025

The ongoing COVID-19 crisis is expected to have a prominent impact on the blue light and U.V. light blocking coatings market owing to national lockdowns in several manufacturing countries. Both the demand for the coatings as well as the supply of raw materials for manufacturing of the coatings has been widely affected owing to the restrictions imposed on the exports and imports of goods and services. Moreover, the unavailability of labor due to COVID-19 also limits the production, if not temporarily ceasing it altogether due to factory shutdowns. The pandemic has had a major impact on the end user industries that consume both U.V. and blue light blocking coatings specifically in the automotive and building and construction segment. However, in the long run it is anticipated that the market would get to its regular consumption pattern. 

Technological advancements in the manufacturing sector with extensive on-going research to improve the existing manufacturing options have laid the foundation for the usage of innovative functional coatings. There has been a drastic change in the coatings industry which has resulted in several innovations such as blue light blocking coatings, ultraviolet light blocking coatings, anti-glare coatings, anti-reflective and anti-fingerprint coatings, among others. Organizations such as World Coatings Council (WCC), American Coatings Association (AMA), among several others indicate at a possible significant increase in the coatings market in the future. The coatings market foresees an opportunity for growth in the future due to the expected increase of products in the automobile industry, smartphone industry, digital screens industry and optical instruments industry, among others. In particular, the demand for coatings with blue light and U.V. light blocking properties has been rapidly increasing on a year-on-year basis.

Vacuum deposition coating is used for a wide variety of applications in automotive, consumer goods, and building and construction industry. The vacuum deposition coating process deposits a thin layer of coating on the surface of products by condensation method, which helps in increasing the wear and corrosion resistance of the coatings applied as compared to conventional coating methods. Techniques such as sputtering, electron beam, ion plating, and arc deposition, are used for the deposition of these coatings on the glass surfaces.

The consumer goods application is estimated to be the largest application segment in terms of volume. The demand for U.V. and blue light blocking coatings is mainly attributed to the increasing production of displays and lenses which are used in manufacturing consumer goods, such as smartphones, television, monitors, wearables, and tablets, among others. Wearables, which include smartwatches and lenses, are estimated to be growing at highest rate among consumer goods. The increasing market penetration of blue light blocking lenses, owing to their property to reduce excessive sunlight and regulating the melatonin level, has increased the consumption of blue light blocking coatings in the lens application.

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The demand for U.V. and blue light blocking coatings varies according to various geographical regions. The market holds a prominent share in various countries of North America, Asia-Pacific, Middle East and Africa, South America and Europe. China is currently the largest revenue generating country in the U.V. and blue light blocking coatings market. Industrial advancements, technological advancements, extensive investments for dedicated R&D facilities, and presence of major display manufacturing companies are some of the major drivers that are propelling the growth of the market in the country. Additionally, due to the wide scale production of coatings as well as technological advancements pertaining to the coatings technology, the market of both U.V. and blue light blocking coatings is expected to grow at a steady rate. Apart from China, the Asia-Pacific is also growing at a high rate and this potential growth is supported by an excessive industrial base, encouraging government policies, and financial support in research and development offered in the countries in the entire region.

The competitive landscape of the U.V. and blue light blocking coatings market consists of different strategies undertaken by major players across different end user industries to gain market presence. Some of the strategies adopted by the companies are new product launches, business expansions, and partnerships, and collaborations. Among all the strategies adopted, partnerships and collaborations have been the leading choice of strategy implemented in the competitive landscape. PPG Industries, Inc., Carl Zeiss AG, and HOYA Corporation are some of the leading players in the global U.V. and blue light blocking coatings market. The industry landscape is quite competitive because of the large number of players in the market. Therefore, innovation and development have been the key factors for large scale growth in this market. To increase their overall global footprint, coatings manufacturers are expanding their businesses and are also entering into strategic partnerships to increase their customer base and overall reach.

Ground Defense System Market Growth Factors, Demand, Trends and Forecast to 2024

Over the last decade, the defense industry has been witnessing a massive transformation owing to the increasing development of technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (MI). The increased need for efficiency and accuracy, rising labor cost, and unavailability of skilled labor have shifted the focus of enterprises from conventional defense system to a modernized artificial intelligence-based defense system. The market is undergoing a major transformation with varied applications of autonomous vehicles for various roles in defense, such as in explosive ordinance disposal, intelligence, surveillance, and reconnaissance, mine clearance, combat support, and firefighting. Developments in the field of electric and hybrid engines can be a turning point in the growth of ground defense system. The market has considerably evolved in developed regions such as North America and Europe and is gaining popularity in geographies such as the Asia-Pacific and Middle East and Africa (MEA). However, it is experiencing extensive growth because of various aspects such as capability, capacity, connectivity, tele-operation, and surveillance.

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There has been a significant development in the modernization of ground defense systems which increase the mobility, survivability, and lethality of ground defense vehicles. This is primarily due to the rising inflow of defense budgets across the globe on account of increasing extent of conflicts among various countries. In defense and security application, the ground defense systems are used for combat, logistic & transportation, search & rescue explosive ordinance disposal, intelligent, surveillance & reconnaissance, mine clearance, firefighting, engineering and recovery support. Ground defense vehicles such as main battle tanks, infantry fighting vehicles, self-propelled artillery, multiple launch rocket systems, armored personnel carrier, mine resistant ambush protected vehicles, tactical armored vehicles, light utility vehicles, amphibious and military engineering vehicles are the major types of vehicles which comprise different kinds of electronic and mechanical systems for optimum operation. These vehicles are capable of handling various activities that include combat capabilities, cognitive capabilities, sensing emotion, intelligence, and surveillance & reconnaissance.

The need for enhanced border security due to issues related to increasing land disputes, migration, and smuggling, has obligated several countries to further strengthen their security. This has led to the increase in the demand of advanced combat and support vehicles which provide enhanced situational awareness to the soldiers so as to have a competitive edge over the opponents. With recent developments in artificial intelligence and machine learning, manned and unmanned ground vehicles are becoming available at a reliable cost.

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The prominent players in the ground defense system market adopted strategies of product launches, mergers and acquisitions, partnerships and collaborations, contracts and other strategies to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion. Due to the intensive competition, the ground defense system industry requires manufacturers to constantly innovate and develop cost-effective products. The existing companies as well as new entrants, which aim to develop next-generation solutions in adherence with the existing and forthcoming industry standards for various end user applications.  The market is likely to grow rapidly with the innovations in the fields of artificial intelligence, machine learning, robotics and autonomous unmanned vehicles which offer longer endurance and higher efficiency.

ASEAN Smart Grid Market Size, Opportunities And Forecast Analysis To 2024

The trends in the ASEAN smart grid market vary across different countries. The ASEAN smart grid market currently holds a prominent share in Singapore, followed by Malaysia, owing to constant product innovation, expansion of automated technologies in small-scale holdings, and favorable government support in terms of initiatives and regulations to promote renewable energy. In 2019, Singapore held the highest market share in the ASEAN smart grid market.

For the companies operating in the ASEAN smart grid market have been adopting strategies such as partnerships, collaborations and joint ventures, and mergers and acquisitions. The ASEAN smart market comprises four types of players, namely power utilities, energy management and automation companies, smart metering companies, and IT solution providers. Some of the leading power utilities are Singapore Power, Tenega Nasional Berhad, Manila Electric, Electricity Authority of Cambodia, Enel Group, and Electricity du Laos, among others. Similarly, some of the prominent energy management and automation companies include Siemens AG, Schneider Electric, General Electric, ABB Ltd, and Honeywell International, among others. The leading smart metering include Landis+Gyr, S&C Electric, Aclara Technologies, EDMI Ltd, and Kamstrup LLC, among others. Some of the most prominent IT solution providers in the ASEAN smart grid market include Microsoft Corporation, Accenture Plc, IBM Corporation, Huawei Technologies, Intel Corporation.

The competitive landscape for the ASEAN smart grid market demonstrates an inclination toward companies adopting strategies such as partnerships, collaborations, and joint ventures as well as mergers and acquisitions. With the increasing growth in the ASEAN market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. For instance, In October 2019, Xcel Energy entered into a collaboration with Itron Inc. for the automation of power distribution system to improve reliability of grid infrastructure. In March 2019, Itron, Inc. entered into partnership with Utilidata, Inc. for the deployment of smart meters and advanced metering infrastructure, which will help the power utilities optimize the electrical grid.

Strategies such as mergers and acquisitions have also been significantly employed by the players across the supply chain to expand in the ASEAN smart grid market. For instance, in February 2019, Mitsubishi Electric, one of the leading players in the ASEAN smart grid market, acquired OVO Energy, to enhance its distributed energy storage technology for the power utilities. In May 2018, Itron Inc. acquired Silver Spring Networks to enhance its product portfolio of smart grid solutions. The acquisition also aimed at providing smart meters and grid software to the power utilities.

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The major established players in the market are also focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. Key players operating in this market have ramped up their product launch activities over the recent years, in order to generate public awareness about their existing and new products and technologies and compete with the competitors’ product portfolio. For instance, In February 2019, ABB Ltd launched e-mesh software solution for the integration of battery storage system and variable renewable energy by the power grid operators. In November 2018, Schneider Electric launched EcoStruxure solutions for the optimization of microgrid and improve the grid performance.

Key companies in the market have also adopted certain business expansion strategies to enter new markets. One of the key players, General Electric. in January 2019, expanded its business by combining residential distributed energy resources business such as renewable energy and storage systems with smart grids. In March 2018, ABB Ltd expanded its business in Singapore by inaugurating a digital solution center for digitalizing the country’s grid infrastructure.

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