Increasing Emphasis on Development of Environment-friendly Products to Offer Growth Opportunities to Printing Inks Manufacturers

The availability of raw materials and rich resources to produce paper is contributing to the stable growth of the South Africa printing inks market. The rising concerns regarding environmental conservation are prompting manufacturers to develop eco-friendly and innovative products, which is likely to augur well for the growth of the market. According to a report by Transparency Market Research, the valuation of the market was US$85.89 mn in 2015 and is poised to rise to US$155.13 mn by the end of 2024, expanding at 6.9% CAGR from 2016 to 2024.

Increasing Demand for Packaged Consumer Products to Fuel Growth Prospects

The key end users of the South Africa printing inks market include packaging, publication and commercial printing, metals and cans, and textiles. The increasing demand for packaged consumer products is contributing to the growth of the packaging industry. The publication and commercial printing segment accounts for a significant share in the overall market. However, the steadily rising shift towards digital media from print is expected to impede the growth of this segment over the forecast period. Due to contraction of their overlying industry in the country, the textiles and metal cans segments are estimated to remain less attractive throughout the forecast period.

Offset Printing Inks to Hold Dominant Share

On the basis of application, the South Africa market for printing inks is segmented into digital printing, flexography, offset printing, gravure printing, screen printing, and specialty printing. Offset printing inks will continue to dominate the market in terms of volume until the end of 2024. The growth of this segment can be attributed to their increasing demand in the publication and commercial printing and packaging sectors. Moreover, the constant rise in their application in its end-use industries is fuelling the growth of the segment.

The digital printing inks segment is likely to rise at a significant growth rate during the same period owing to sweeping shift towards digitization in South Africa. On the other hand, the screen printing inks segment is estimated to rise at a sluggish pace owing to dwindling demand for screen printing in the country.

Proliferation of Bring-your-own-device Culture to Boost Demand for Unified Communication as a Service (UCaaS) Products

Unified communication as a service (UCaaS) is a high-potential emerging technology, permanently updated, and a standardized service, which has been stirring interest of developer communities and enterprises around the world. With cloud communication providers looking to expand their offerings, enterprises are increasingly deploying UCaaS as a viable cloud service option.  Enhanced productivity, accelerated decision-making, and lower costs are a few benefits offered by UCaaS. The demand for UCaaS products is likely to grow as companies gaining knowledge about the aforementioned benefits. . 

According to Transparency Market Research (TMR), the global UCaaS market stood at US$8.23 bn in 2015. Exhibiting a CAGR of 29.4% between 2016 and 2024, the market is expected to reach US$79.3 bn by the end of 2024. 

The growth witnessed by the global UCaaS market is primarily facilitated by the proliferation of the enterprise mobility and bring-your-own-device (BYOD) culture. As more people join the BYOD bandwagon, the dependence on smartphones and tablets is bound to surge. This will subsequently fuel demand for flexibility and scalability intrinsic to UCaaS.  

Q: What leads to the high deployment of UCaaS across large, small, and medium enterprises? 

A: Although large enterprises exhibit a high degree of awareness regarding advantages offered by UCaaS, there still exists awareness gap in the small and medium scale businesses. Due to its status as a high-potential emerging technology, UCaaS has spurred interest in development communities and enterprises alike. This has resulted in its deployment as a ready-to-go-solutions by industries looking for short turnaround time. 

As enterprises grapple to improve their communication and collaboration abilities, cloud solutions are gradually factoring into their decision-making. Besides this, there has been a considerable rise in the number of mobile workers, which has enabled organizations to enter cross-border markets. Hence, the need for collaborations tools, facilitating communication between employee and enterprises, is more than ever before. This has provided a significant boost to the global UCaaS market. 

In contract, inadequate awareness regarding UCaaS and the benefits it offer, limits its adoption across SMEs. However, this challenge is likely to have minimal impact on the global UCaaS market in the long terms. 

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Q: What opportunities are leading players in the UCaaS looking to capitalize on? 

A: According to TMR, the top five companies hold the leading share in the UCaaS market, rendering its vendor landscape highly consolidated. In order to gain competitive advantage these companies are focusing on the integration of business processes and applications. Besides mergers and acquisitions, the leading companies in the market have been looking to gain from the latest technological advancements. 

For instance, RingCentral Office Google Edition, launched in June 2016, is aimed at integrating UCaaS products with Google Apps Unlimited. With this collaboration, RingCentral Inc. has eye on integrating its UCaaS products with Google Unlimited, thereby boosting installation of its products across larger enterprises. 

Furthermore, Mitel Network Corp’s acquisition of Polycom Inc. is likely to spawn mobile unified communication services and cloud video. Such developments are likely to have significant implications on the global UCaaS market’s growth trajectory and help companies expand their footprint.

Mobile Advertising Market to Gain Impetus from Increasing Proliferation of Smartphones Worldwide

With mobile advertising emerging as a popular medium for promoting games and apps, publishers and advertising professionals are looking forward to thousands of new campaigns every year. Despite the majority of mobile campaigns having been meant for games or apps, the format and channel popularities is likely to change. Interest of consumer brands is poised to stir up paradigm shift in the world of in-app mobile advertising. This has brought a great news for the global mobile industry. 

According to Transparency Market Research (TMR), based on revenue the global mobile advertising market is poised to exhibit an exponential CAGR of 31.3% between 2016 and 2024. The market stood at US$13.05 bn in 2015. As leading enterprises focus on leveraging disruptive technologies for enhancing consumer reach, demand for mobile advertising is expected to increase significantly. 

Q: Which device type will provide most lucrative opportunities for mobile advertising? 

A: Smartphones present a lucrative opportunity of reaching younger consumers. Hence, the proliferation of smartphones is expected to have a positive impact on the mobile advertising market. According to TMR, holding over 51% of the global mobile advertising market, smartphones emerged as the largest device segment in 2014. Smartphones combine the features of personal computing system with add-ons such as single platform to connect and interact, faster reach, and mobility. This, combined with the convenience offered by smartphones makes them highly viable for mobile advertising. 

The sales of mobile phones have outstripped the number of television sets, PCs, and laptops in the last few years. Meanwhile, as the digital advertising platforms continue to develop, mobile display advertising will continue to outperform desktop. As per the findings of the Interactive Advertising Bureau the revenue earned from mobile advertising surged by over 60% in 2015, compared to that recorded in 2014. 

The changing consumer behavior and evolving trends within digital platform with regard to tablet and smartphones will have a profound impact on the global mobile advertising market. For instance, recent studies suggest that the demand for video ads in smartphones is more than it is in tablets. In contrast, completion rates are higher in case of tablets. Nevertheless, smartphones are expected to remain a popular medium for propagating mobile advertising through the forecast period.

Q:  What recent developments are witnessed in the world of mobile advertising? 

A: With people around the world spending more and more time watching videos or playing games in the mobile phones, marketers are provided with lucrative opportunities to capitalize on. Despite being at a nascent stage, video advertising on smartphones is expected to surge at a robust pace in the forthcoming years. More advertisers are likely to explore videos within apps and use geo-targeting and location to reach prospective buyers. Furthermore, as virtual reality and augmented reality become more popular, the effects are expected to trickle into mobile advertising as well. 

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With the Facebook developing newer methods of determining which ads to show its users, advertisers with mobile optimized websites could expect better reach and visibility. As per recent study, mobile advertising account for 84% of the Facebook’s earning through advertising. Meanwhile the mobile user base of the social media giant is also growing faster, which provides lucrative growth opportunities for the mobile advertising market. 

Following the trend, Google has nudged speedier mobile content with its project called Accelerated Mobile Pages. Besides this, artificial intelligence (AI) has recently made its headway into mobile video advertising. These developments have has helped advertisers provide more personal and relevant experience to consumers, thus boosting the global mobile advertising market.

Increasing Uptake of Convergent Billing Systems to Present Opportunity-rich Market for Providers of OSS BSS Systems and Platforms

Largely driven by the growth in the worldwide telecommunication sector, the global market for operational support systems (OSS), business support systems (BSS), and platforms is likely to witness a significant surge in its valuation. According to a study by Transparency Market Research (TMR), the opportunity offered by this market is poised to expand at a CAGR of 10.50% between 2016 and 2024, increasing from US$29.1 bn in 2015 to US$70.9 bn by 2024.

The increasing uptake of convergent billing systems, together with the rising need for customer care services, is likely to support the growth of this market considerably over the forthcoming years. The introduction of the new-generation operation systems and software (NGOSS) framework is also projected to offer potential opportunities for growth to market participants in the near future. However, the regulatory issues and the difficulties faced while integrating OSS BSS systems and platforms with existing systems may limit their adoption across the world.

In this blog post, researchers at TMR answers significant queries related to the global market for OSS BSS systems and platforms:

Q. Which of the regional markets is likely to acquire the leading position in the coming years?

Since North America has always been an early adopter of technology, the market for OSS BSS system and platform is witnessing high growth in this region. Contributing to nearly one-third of revenue generated in the global market, the region is expected to lead the sales of OSS BSS systems and platforms across the world in the coming years.

The rising count of mobile network operators and telecom providers is anticipated to boost the demand for OSS BSS systems and platforms in North America in the near future, ensuring the dominance of this regional market. The favorable government rules and regulations are also projected to impact the North America market for OSS BSS systems and platforms positively over the years to come.

Q. How will be the performance of other regional markets for OSS BSS systems and platforms?

The market for OSS BSS systems and platforms in Asia Pacific will witness a robust rise over the next few years, thanks to the factors, such as growing demand for mobile internet, declining average revenue per user (ARPU) for voice calling, heightened degree of convergence, and the intensified competition. 

On the other hand, the European market will be driven by the expanding user base of telecom services and the growing demand for advanced solutions, such as revenue and billing management, in the years to come.

Q. What are the key strategies leading companies rely on to withstand the competition within the market?

The global market for OSS BSS systems and platforms demonstrates a fragmented and highly competitive landscape due to the presence of a large pool of market participants. In order to sustain in this environment, leading companies, such as Nokia Siemens, Telefonaktiebolaget LM Ericsson, Accenture Plc, Amdocs Ltd., and Hewlett-Packard Co., are aggressively focusing on collaborating with startups. For an instance, Amdocs, a U.S.-based company, recently acquired three privately-owned customer experience solution providers, namely, Vindicia, Pontis, and Brite:Bill, in a bid to position Amdocs as the market leader among the key OSS BSS systems and platforms providers across the world.

Other prominent companies in this market are Tata Consultancy Services Ltd., CSG Systems International Inc., IBM Corp., Oracle Corp., and Tech Mahindra Ltd.

Rapid Growth of Global Master Data Management Market Facilitated by Rising Demand in Healthcare, BFSI Sectors

Master data management is the process of governing the data generated in an organization in order to keep the functioning of the organization aligned with a common data bank and to establish a common data source for all arms of the organization. Master data management thus helps the productivity of the organization immensely, since conflict between data points is avoided. Master data management is vital in ensuring optimum function of the various arms of an organization, as the lack of a common data point can lead to conflicting actions being taken by different arms of the organization towards the same customer. 

The steady development of the prevalent customer-centric approach among businesses has led to a growing acknowledgement of the importance of master data management solutions. According to Transparency Market Research (TMR), the global master data management solutions market is likely to exhibit a stellar 27.25% CAGR between 2016 and 2024. The market was valued at US$4.3 bn in 2015 and is expected to rise to a valuation of US$37.9 bn by the end of 2024. 

Q. What is driving the master data management market?

While the overarching development of the customer-centric–rather than service-centric–view in businesses has been the prime driver for the global master data management market, the rising volume of data being generated by organizations due to the use of modern customer engagement channels is a leading proximal driver for the market. Social media and other online channels have already become a vital asset for any non-niche organization, as they enable direct engagement with the users. The voluminous and diverse data generated from such operations needs to be stored and monitored with adequate care so as to enable easy access whenever needed. This is likely to remain a key driver for the master data management market in the coming years.

The rising demand for cloud computing has also benefited the master data management market, as cloud storage can be a valuable asset for data management. Due to the widespread popularity of cloud computing in North America and Europe, these two regions are the leading contributors to the global master data management market. However, the rapid rise in IT expenditure observed in the corporate sector in Asia Pacific has furthered its claims as a lucrative, emerging market for master data management players to keep an eye on. 

Q. What are the key applications of master data management?

The BFSI sector has become a key consumer of master data management solutions due to the gradual transformation brought about by the digital revolution. In contrast to conventional banking, which consisted of customers visiting brick-and-mortar banks, modern banking services are increasingly being provided through various digital media, which leads to significant diversification in the type of information received from customers. According to TMR, the BFSI segment is expected to exhibit a robust 27.3% CAGR in the 2016-2024 forecast period.

However, the healthcare sector is likely to play a major role in the development of the master data management market in the coming years. The use of electronic health records (EHR) has risen in the healthcare sector across the world, albeit with a wide variety of systems. Master data management has thus received increasing demand. 

The differences among the various EHR systems can also cause significant issues in cases of mergers and acquisitions, where the data sets need to be standardized. This has generated a significant demand from the healthcare industry for viable master data management solutions. 

New-age Navigation Systems and In-car Entertainment Information Systems to Benefit Automotive Industry

Volkswagen recently launched in-car entertainment information systems, an ideal multimedia unit, for their commercial vehicles. This leading auto company collaborated with Kenwood, the new multimedia and navigation unit to offer new in-car entertainment features such as Android Auto and Apple Car Play. The new unit from Kenwood features Spotify integration and Apple CarPlay alongside favorites including Bluetooth hands-free, Europe Garmin navigation, and DAB digital radio tuner. With this new in-car entertainment information system, Volkswagen aims to retain standard factory functions including displaying parking sensors, steering controls, and reversing camera. 

The new in-car entertainment information system introduced by Volkswagen, in collaboration with Kenwood, features CD, DVD, SD, and USB card for connecting digital music. This new invention has motivated many other key manufacturers of in-car entertainment information systems to introduce their new products. 

Transparency Market Research (TMR) predicts that the global in-car entertainment information system market is likely to reach US$28.64 bn by 2021, progressing at a 14.2% CAGR from 2015 to 2021. TMR answers a few questions related to the global in-car entertainment information system market, which the stakeholders would like to know:

Q. Will the growing awareness of navigation systems benefit the global in-car entertainment information system market?

Yes, the growing awareness of new-age navigation systems will benefit the global in-car entertainment information system market. Navigation, telematics, and entertainment are the top applications of the in-car entertainment information system. The demand for in-car entertainment information systems is increasing, which is expected to create profitable prospects for various software and hardware devices such as audio-video devices, freeview/TV, USB, DSP systems, and WiFi devices. The demand for navigation systems is expected to increase owing to the rising awareness for safe driving.    

Q. What are the key factors expected to boost the demand for in-car entertainment information system?

The global demand for in-car entertainment information systems is expected to rise owing to advanced infotainment solutions, the advancements in the technology, innovations in navigation systems, and the rising production of various vehicles. The growing auto industry is expected to be a crucial factor driving the demand for in-car entertainment information systems. With the increasing innovations in vehicles and the rising demand for new-age car interiors from vehicle owners, the sales of in-car entertainment information systems are expected to increase. 

Q. What would restrict the growth of the global market for in-car entertainment systems?

High expenditure required for the research and development activities for designing and developing new in-car entertainment information systems is the primary factor expected to hamper the growth of the global market. Stringent government regulations are expected to restrict the entry of new potential manufacturers of in-car entertainment information systems, which is another key factor likely to restrict the market’s growth. 

Overall, the global in-car entertainment information system market is poised for a significant growth in the years to come. The rising purchasing power of the patrons and their changing preferences are predicted to benefit the global market in many ways. 

The trends in many industries are changing at a significant pace. Many companies are focusing on acquisitions and mergers with the startups to increase their share in the global market. Key companies operating in the in-car entertainment information system market are focusing on merging with a few startups to maintain their dominance, which will create new growth opportunities in the next few years.   

North America Facilities Management Market: U.S. to Remain Leading Revenue Contributor Due to Increasing Demand for High-quality Life Services

Rapid advancements in technology are allowing today’s workforce to work virtually from anywhere and anytime. Various studies suggest that more than 75% of business professionals in North America use their mobile devices to check emails and conduct product research online. With tools such as mobile and cloud applications, organizations are developing scalable solutions that are helping their employees in enhancing productivity. This trend along with the increasing emphasis on process optimization in industries is fuelling the growth of the North America facilities management market

Market intelligence firm Transparency Market Research (TMR) observes that with the increasing penetration of automation in the healthcare and manufacturing sectors, the demand for technical services such as repair and maintenance is rising rapidly. This factor, in turn, is driving the market. According to a report by TMR, the North America facilities management market is poised to rise at a CAGR of 13.5% from 2016 to 2024, reaching a value of US$610.21 bn by 2024 from US$198.26 in 2015.

Q. Why are developed countries more preferred destinations for the facilities management providers?

The growing demand for high-quality life services across various industries is contributing to the growth of the facilities management market in developed countries in North America such as the U.S. and Canada. Geographically. The U.S. was the leading revenue contributor in 2015, representing more than half of the total North America facilities management market. The increasing demand for performance improvement and cost reduction is leading to the growth of the market in this country. Moreover, organizations in the U.S. are increasingly shifting towards outsourcing support services to regulate their core business activities and benefit from third-party expertise in various business processes. Due to these factors, the country is expected to remain the front-runner throughout the forecast period.

Canada accounted for nearly 33% of the overall North America facilities management market in 2015 and is estimated to witness robust growth owing to the rising demand for enhanced energy efficiency of services of services in business activities. However, the increasing demand for technical services such as HVAC maintenance, fire protection, and plumbing is bolstering the growth of emerging markets such as Mexico. The Mexico facilities management market is anticipated to rise at a significant CAGR of 13.8% during the same period.

Q. Why is outsourcing emerging as one of the megatrends in the North America facilities management market?

Outsourcing support services provide organizations with the ability to focus on their core functions and business strategies, thereby helping in gaining a competitive edge over their contemporaries. It also helps companies in re-examining and improving their business plans and save both money and time. The trend of third-party contracts for facilities management outsourcing has gained considerable traction across industries in recent years and has emerged as one of the key factors driving the North America facilities management market.

Another emerging trend amongst companies in the market is the increasing focus towards reducing both waste and carbon emissions at various facilities management sites. For instance, in October 2016, Sodexo Inc. announced that by 2025, it has estimated to reduce carbon footprints at facilities management and food service sites by 34% through simple changes, such as recycling used cooking oil as biodiesel or implementing energy efficient HVAC systems at worksites.

Some other key players in the market are Mitie Group PLC, ISS World Services A/S, G4S plc, GDI Integrated Facility Services, Ecolab USA Inc., Cresa LLC, Compass Group PLC, Cofely, and Bilfinger HSG Facility Management GmbH.

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