Microwave Oven Market Expected to Grow Swiftly Till 2022 Based Upon Enhanced Consumer Preference Towards Frozen And Ready-To-Eat Foods: Grand View Research, Inc.

The global microwave oven market size is expected to reach USD 12.70 billion by 2022, according to a new study by Grand View Research, Inc. The market is expected to witness a sluggish growth in North America and Europe as microwaves have entered the mature stage of the product life cycle.
Majority of the revenue is generated from the section of population exhibiting willingness to spend on premium kitchen appliances. Changing lifestyles of people, especially the working class, have increased the popularity of frozen and ready-to-eat packaged foods which has positively impacted market growth.
Inclination towards the use of traditional cooking equipment can be viewed as a hindrance for microwave ovens’ adoption, especially in developing countries. High electricity consumption and the costs associated with it are expected to challenge industry growth, which has led to manufacturers developing energy efficient microwaves.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/microwave-oven-market

Further key findings from the study suggest:

• Convection ovens accounted for over 45% of the market share in 2014, which can be primarily attributed to their ability to cook food faster. In addition, these microwave ovens facilitate the cooking of multiple items simultaneously. Vegetables, cookies, roasted meats and cookies can be effectively prepared in a convection microwave oven. Grill ovens also contributed to a significant portion of the market revenue. Increased emphasis on healthy eating habits has propelled the demand for grill ovens as they are used for roasting food in a very short duration.
• Household microwave ovens contributed to over 60% of the overall revenue in 2014. Demand for household oven primarily originates from the working segment owing to quicker food preparation times. A surge in the establishment of hotels and fast food centers has favorably impacted microwaves’ adoption in commercial applications as they enable the serving of a large volume of food in shorter durations.
• Built-in microwaves have gained prominence over the last few years owing to their compact nature which facilitates their accommodation in modular kitchens. They also enhance the aesthetics of the kitchen as they can fit in a wall or a cabinet, thereby offering some counter free space in the kitchen. Counter-top microwaves are available in various sizes and can be installed manually without the need of an expert, owing to which they occupied a majority of the revenue share.
• North America accounted for over 30% of the market in 2014 which can be attributed to high penetration of microwaves across households and commercial establishments. The industry has reached its maturity stage in the U.S. and also several European countries, resulting in a potentially sluggish growth rate over the forecast period. Most of the microwave sales in North America and Western Europe are expected to emerge from customers opting for premium microwaves. The microwave oven industry has substantial growth prospects in the Asia Pacific region as majority of sales are expected to originate from customers purchasing microwaves for the first time.
• Key industry participants include Samsung, LG Electronics, Panasonic, Electrolux, and Galanz. Companies focus on product differentiation and geographical diversification as key strategies to expand their presence and achieve higher market penetration. Manufacturers also emphasize on the development of energy efficient microwaves to lower electricity consumption.

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Grand View Research has segmented the global microwave oven market on the basis of product, application, and region:

Microwave Oven Type Outlook (Revenue, USD Million, 2012 - 2022)

• Convection
• Grill
• Solo

Microwave Oven Application Outlook (Revenue, USD Million, 2012 - 2022)

• Commercial
• Household

Microwave Oven Structure Outlook (Revenue, USD Million, 2012 - 2022)

• Built-in
• Counter top

Microwave Oven Regional Outlook (Revenue, USD Million 2012 - 2022)

• North America
• Europe
• Asia Pacific
• RoW

Biometric Sensor Market Will Grow Augmented Demand In Commercial Buildings Sectors Till 2024: Grand View Research, Inc.

The global Biometric Sensor Market size is expected to reach USD 1.83 billion by 2024, according to a new report by Grand View Research, Inc. Technological proliferation and increasing demand in commercial buildings, consumer electronics, and banking applications are expected to drive the market growth.
The development of advanced multimodal techniques for biometric authentication and recognition techniques, which employ verification of more than one biometrics enabling increased security levels across the end-use applications, is driving industry growth. The use of biometric Sensor in consumer electronic devices, such as smartphones and tablets, has resulted in an exponential increase in the sensor shipments.
End-users are increasingly adopting the advanced sensing and authentication technologies aimed at restricting unauthorized access and increasing security. Advanced recognition techniques such as DNA matching as well as vein, iris, and retina recognition have been increasingly adopted across distinct end-use verticals over the past few years.
However, concerns raised over cultural barriers and issues, such as the prevention of misuse of an individual’s biometrics, may pose a challenge to the market growth over the next eight years.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/biometric-sensor-market

Further key findings from the report suggest:

·         Optical, capacitive, thermal, ultrasound, and electric field Sensor are extensively used in capturing an individual’s biometrics. Optical Sensor accounted for over 40% of the industry share and are expected to sustain their supremacy over the forecast period. Fingerprint scanners used in commercial buildings and offices for access control and log management extensively employ optical Sensor for capturing, recognizing, and verifying fingerprints.

·         The finger scan application segment acquired a significant share of the industry, accounting for over 40% of the overall share and is expected to maintain its dominance over the forecast period. The hand and face scan applications are increasingly gaining prominence, owing to the enhanced security features that they offer.

·         The rising application of fingerprint and facial recognition and authentication as biometric technology in devices such as smartphones, tablets, and laptops, along with other smart handheld devices, have led to the market proliferation. The consumer electronics segment dominated the overall end-use industry accounting for over 25% of the market volume share in 2015.

·         The rapidly declining prices of such sensing components to be used in smartphones and tablets are expected to lead to a gradual decrease in the revenue generated over the forecast period. The entry of sensor and component manufacturers from the Asia Pacific countries, such as China and Taiwan, has led to increased competition in the industry, resulting in an overall decline in the sensor prices.

·         Asia Pacific dominated the global industry, contributing over 35% of the market revenue in 2015. The presence of key sensor and consumer electronics vendors in the region has led the region to hold a major share in the biometric Sensor industry.

·         Key vendors include 3M Company, Crossmatch, NEC Corporation, IDEX ASA, and ZKTeco Inc. Manufacturers are offering technologically advanced and distinguished products and are adopting innovative distribution strategies, such as e-commerce retailing apart from directly supplying to the end-use industries.

Browse All Reports of this category @ http://www.grandviewresearch.com/industry/sensors-and-controls

Grand View Research has segmented the global biometric sensor market on the basis of product, application, end-use and region:
Biometric Sensor Product Outlook (Volume, Million Units; Revenue, USD Million; 2015 – 2024)

·         Capacitive Sensor

·         Optical Sensor

·         Thermal Sensor

·         Ultrasound Sensor

·         Electric field Sensor

Biometric Sensor Application Outlook (Volume, Million Units; Revenue, USD Million; 2015 – 2024)

·         Voice scan

·         Finger scan

·         Hand scan

·         Facial scan

·         Iris scan

·         Vein scan

·         Others

Biometric Sensor End-Use Outlook (Volume, Million Units; Revenue, USD Million; 2015 – 2024)

·         Consumer electronics

·         Commercial buildings

·         Defense

·         Medical

·         BFSI

·         Others 

Biometric Sensor Regional Outlook (Volume, Million Units; Revenue, USD Million; 2015 – 2024)

·         North America

·         Europe

·         Asia Pacific

·         RoW

Biometrics Technology Market To Represent USD 24.59 Billion Opportunity Globally by 2020

The Global Biometrics Technology Market is expected to reach USD 24.59 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for biometrics technology across various applications is expected to favor market growth over the next six years. Biometrics technology is used by several verticals in the private, public and commercial sectors to overcome security threats, which is expected to fuel market demand over the forecast period.
Increasing demand in consumer electronics to enhance customer experience is expected to drive the biometrics technology market over the next six years. Implementation in e-commerce applications may enable secure transactions and can provide new opportunities to the biometrics technology market. High initial investment may hinder market growth over the forecast period.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/biometrics-industry

Further key findings from the study suggest:

• Non-AFIS was estimated to be a considerable application segment in 2013 and accounted for over 35% of the overall market. This technology is used in various enterprises to enable authorized access owing to its accuracy and efficiency. The AFIS application segment is also expected to grow at a significant rate on account of its use for fingerprint and palm identification in many civil applications.
• Transportation & logistics emerged as the dominant end-use segment in 2013, and accounted for over 25% of the biometrics technology market in the same year. This technology is used for e-passport programs and to counter illegal migrations in various regions. Defense services are also expected to witness high growth over the forecast period. Biometrics technology can be used in banking and finance to increase efficiency and prevent frauds enabling it to grow at a significant rate over the next six years.
• North America was estimated to be the largest regional market in 2013, and is also expected to grow at a considerable rate over the forecast period. Biometrics technologies are used in various departments in the U.S. owing to their strict security standards. Asia Pacific is also expected to contribute significantly to market growth with increasing use of this technology in countries such as India, China and Indonesia. Various government initiatives to maintain internal and external security is expected to fuel the regional market growth over the next six years.
• Key market participants include NEC Corporation, Fujitsu Limited, Precise Biometrics AB, 3M Cognet, Hitachi, FaceFirst, etc. NEC Corporation created civilian fingerprint identification database for South Africa using AFIS biometrics technology eliminating about 45 million paper files. Cost effective solutions are expected to be a critical success factor for industry participants.

Browse All Reports of this category @ http://www.grandviewresearch.com/industry/electronic-security-systems-and-devices

For the purpose of this study, Grand View Research has segmented the global biometrics technology market on the basis of application, end-use and region:
Biometrics Technology Application Outlook (Revenue, USD Million, 2012 – 2020)
    • Face
    • Hand Geometry
    • Voice
    • Signature
    • Iris
    • AFIS
    • Non-AFIS
    • Others
Biometrics Technology End-Use Outlook (Revenue, USD Million, 2012 – 2020)
    • Government
    • Defense & Security
    • Banking & Finance
    • Consumer Electronics
    • Healthcare
    • Residential
    • Commercial
    • Transportation
    • Others
Biometrics Technology Regional Outlook (Revenue, USD Million, 2012 – 2020)
    • North America
    • Europe
    • Asia Pacific
    • RoW

Household Cooking Appliances Market Will Grow Rapidly Owing To Increased Usage In Cooking Equipments Such As Microwave Ovens And Induction Cookers Till 2022

The global household cooking appliances market size is expected to reach USD 104.48 billion by 2022, growing at a CAGR of 6.1% from 2015 to 2022, according to a new report by Grand View Research, Inc. Changing consumer lifestyles & preferences and consequent increase in disposable incomes are expected to drive the household cooking appliances market growth over the forecast period.
High energy-efficiency is also one of the key factors expected to boost household cooking appliances market growth. With increasing emphasis on reduction of energy consumption, and rising electricity costs, these devices are expected to witness significant growth over the forecast period.
In comparison with conventional appliances, contemporary devices require more frequent maintenance as well as replacement of worn out accessories. The investment cost (which includes purchase, installation, as well as accessories) is higher than conventional devices, which may inhibit price sensitive consumers from buying them, thereby posing a challenge to household cooking appliances manufacturers. Low cost pricing strategies and product innovations are expected to make easy availability of ready-to-eat food.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/household-cooking-appliances-market

Further key findings from the report suggest:

·         Cook tops & cooking ranges accounted for over 45% of the revenue in 2014, closely followed by ovens. In developed as well as developing regions, induction cook tops are expected to witness surging demand.

·         Microwave ovens held a major share in the ovens market in 2014 on account of the increasing popularity of microwavable food. Combination ovens combining the characteristics of conventional as well as microwave ovens are expected to gain prominence owing to their multi-faceted nature catering to the cooking requirements of a wide range of foods.

·         North America household cooking appliances contributed to over 30% of the global revenue, closely followed by Europe, which can be attributed to the indispensible nature of microwave ovens and cook tops in these regions. Asia Pacific is expected to witness high-growth on account of the presence of several key players such as LG and Samsung concentrated in and around Korea, Japan, China, and India.

·         Notable industry participants have established global presence, high degree of brand recall, as well as strong product portfolios. Companies dominating household cooking appliances market share include Samsung, Electrolux, LG, Panasonic, Philips, Bosch, Videocon, Haier, and Daewoo.

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Grand View Research has segmented the global household cooking appliances market on the basis of product and region:
Household Cooking Appliances Product Outlook (Revenue, USD Billion, 2012 – 2022)

·         Cook tops & cooking ranges

·         Gas cook tops

·         Electrical cook tops

·         Induction cook tops

·         Others

·         OvensSpecialized appliances

·         Conventional

·         Microwave

·         Combination

Household Cooking Appliances Regional Outlook (Revenue, USD Billion, 2012 – 2022)

·         North America

·         Europe

·         Asia Pacific

·         RoW