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A Global Biotechnology Based Chemicals Market Size, Industry Report, 2025

A global shift towards bio based products coupled with end-use applications in the pharmaceutical and food & beverage industries is expected to be a key driving factor for the biotechnology based chemicals market growth over the next seven years. The pharmaceutical industry is the dominant biotechnology based chemicals consumer owing to increasing natural medicines demand compared to its counterparts such as synthetic chemicals. Rising awareness regarding ill effects associated with chemical drugs intake is anticipated to positively impact the biotechnology based chemicals industry over the forecast period. The animal feed industry is one of the key biotechnology based chemicals consumer. Biotechnology based chemicals market is slated to witness significant growth due to increasing lysine demand in the animal feed industry. Rising demand for polylactic acid (PLA) plastics manufacturing will require increasing lactic acid quantity. This in turn is expected to augment the biotechnology based chemicals market growth over the forecast period. Industrial biotechnology offers processes with reduced carbon footprints and greenhouse gas emissions (GNG) compared to petroleum products. These are cleaner and utilize less energy than synthetic processes. This in turn is expected to drive biotechnology based chemicals market growth. Biotechnology based chemicals products, a niche operation in terms of world chemical production, are anticipated to witness significant growth owing to rapid industrial biotechnology advancement coupled with crude oil price rise. This factor is anticipated to result in higher penetration of the biotechnology based chemicals market. Biotechnology based chemicals include lactic acid, lysine, glutamic acid, polyhydroxyalkanoates threonine, and citric acid. The most widely used amino acid manufactured as well as consumed in the world is glutamic acid. High raw material and processing cost is anticipated to hinder biotechnology based chemicals market growth and pose challenges to industry participants over the forecast period. With the dominant petroleum industry, there is a need to convert under-utilized biological material into useful products. Increasing bio based chemicals application addresses industrial needs through biological material products and processes. Growing industrial needs such as exploration and production (E&P) activities is expected to offer lucrative opportunities for industry participants over the forecast period. A new value chain starting with bio based feedstock and bio refineries at core is expected to yield immense opportunities to industry participants and augment the biotechnology based chemicals market.

Asia Pacific is expected to emerge as a key region for the biotechnology based chemicals market owing to growing pharmaceutical industry in emerging economies such as China and India. Rising citric acid demand from food & beverage industry in China is expected to positively impact biotechnology based chemicals market growth in the region over the forecast period. Shift in consumer preferences towards bio based products usage owing to increasing awareness regarding health hazards associated with non-bio based products is projected to drive biotechnology based chemicals market growth in North America and Europe. Dominant animal feed industry presence in China and the U.S. due to increasing lysine application as a supplement in swine and poultry feeds is expected to complement market growth over the forecast period. The U.S. has many existing biorefineries, which process corn into sugars, oils, food ingredients, and animal feeds. Europe is expected to witness considerable market growth over the next seven years. However, there are certain hurdles such as lacking industry knowledge and applicable policies forcing shift in production capacities outside Europe despite the technological knowhow in the region.

Biotechnology based chemicals market price depends on raw material and processing technology cost. Only a fraction of available biomass is utilized in biotechnology based chemicals production owing to high conversion costs, which has resulted in underutilization of resources. R&D is highly expensive while pilot plants require huge investments. Long term biotechnology based chemicals market growth depends on cost competitive technology development which is influenced by scale and access to diverse markets and biomass availability at low cost. This is expected to be one of the strategies adopted by producers to sustain and grow in this market over the forecast period. Major players operating in global biotechnology based chemicals market include Kemin Europa, Clariant, JC Biotech, Rossari Biotech Ltd., BioAmber, Inc., Krishnai Biotech, and Stora Enso.

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Grand View Research, Inc.

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The Global Bio Polyols Market Size, Share, Trends, Global Industry Report, 2025

The global bio polyols market is expected to witness significant growth over the next seven years. Growing environmental concerns regarding conventional polyols usage are presumed to play a critical role in shaping the future development of bio polyols over the forecast period. Demand for these bio-based products is estimated to witness annual growth rate of over 9%. Volatile crude oil prices have negatively impacted the conventional polyols demand. Increasing acceptance across multiple end-use industries over the past few years is expected to further compliment the global bio polyol market development. Shifting consumer preference for bio-based materials over synthetic chemical is expected to be beneficial for the overall bio polyols market growth. Major industry participants have invested heavily in R&D initiatives for superior and cheaper bio based products. Governments and regulatory associations such as Environmental Protection Agency (EPA), REACH, etc. have implemented several guidelines favoring bio based polyols usage. Volatile organic compounds (VOCs) which are environmentally hazardous are used in conventional polyols manufacturing. Sustainable bio based polyols emits zero to minimal VOCs in their manufacturing process. All the above mentioned factors are expected to drive the overall bio polyol market over the next seven years.

The construction industry has started using bio-based polyols over conventional polyols. Increasing infrastructure spending in emerging countries such as China, India, Malaysia, Indonesia, Russia, Brazil, and Vietnam is expected to have a positive impact on the market. Coatings and food industry growth in numerous economies is also anticipated to add value to the overall market revenue. Other major applications include transportation, adhesives, carpeting, furniture, sealants, and bedding.

High recycling of foam based waste for the production of bio polyols has helped in reducing raw materials prices for the conventional polyols. High unconventional hydrocarbon production in North America has helped in reducing petro related raw material prices for the conventional polyols. Iran recently started exporting its oil reserves and this is expected to reduce overall petrochemical prices for the next few years. All mentioned recent activities across various regions may emerge as a major concern for the bio-based polyol producers. Since bio polyol products are novel in the bio polyols market, production cost for these polyols is still extremely high. This may create a hindrance for the overall market growth. Innovations in terms of product development and acceptance across a wide range of end-use applications are anticipated to create ample lucrative opportunities for the industry participants.

North America bio polyols market dominated the overall the overall market revenue. Growing end-use industries in the U.S., Canada, and Mexico had a direct positive impact on the overall market. Italy and Germany have the largest market share in the European region. Europe bio polyols market is also expected to witness significant growth over the period. Asia Pacific is expected to witness the fastest growth over the next seven years. China India, Japan, Indonesia, Vietnam, and Malaysia are the biggest economies in the Asia Pacific region in terms of growing end-use industries. Other regional markets which are expected to grow at a faster pace include Brazil, Russia, Argentina, South Africa, and Australia.

Prominent bio polyols industry participants include Arkema S.A., Global Bio Chem Technology Group Co. Ltd., The Dow Chemical Company, BASF S.E. Other manufacturers include Stepan Company, Bayer Material Science, Mitsui Chemicals Inc., Bio Based Technologies Llc, Johnson Controls Inc., Cargill Inc., Jayant Agro Organics Ltd., E.I. DuPont de Nemours & Co., Invista S.A.R.L. and Emery Oleo Chemicals (M) Sdn Bhd. The industry is moderately fragmented. Major participants hold over 30% of the overall market share. Entry barriers are high for the market. The new entrants require innovative and strong R&D initiatives and product development process to enter the market.

Originally Published
Grand View Research, Inc.

https://g-dil.com/

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Biden wants trillions for infrastructure, but a big hurdle will remain: Spending the cash

WASHINGTON — Democrats are fighting to approve trillions of dollars in new spending to tackle everything from education to housing to clean energy, the culmination of years of work by advocates across the progressive movement. But finding the votes in Congress may be the easiest part.

The federal government has struggled in recent history to quickly translate cash from Congress into actual shovels in the ground. And for Democrats, deriving a political benefit would require that voters see and feel the impact before the 2022 midterm elections.

President Joe Biden will have to figure out how to spend the money on time, on budget and with the intended impact. Depending on how that all goes, Biden could end up as the next Franklin D. Roosevelt, lauded for restoring faith in big government programs, or unable to get his ambitious plan off the ground.

“Policy positions don’t win elections, but policy results win re-elections,” Tom Perriello, executive director of the Open Society Foundation in the U.S. and a former Democratic congressman from Virginia, told NBC News. “The American people are asking one question and one question only: Will this work?”

Advocates and outside experts say the Biden administration is well positioned to route money through existing programs, boost state and local governments that have an existing backlog of infrastructure projects, and accelerate clean energy trends that already have momentum in the private sector.

But there are also lots of details to fill in and many potential hurdles to overcome, even if the money is approved.

Plans to boost access to care for seniors and disabled Americans could conflict with plans to raise pay for caregivers. Billions of dollars to update the electric grid could run into objections from local communities who don’t want new power lines crossing their territory. The same “not in my backyard” mentality could also affect investments in affordable housing, which the Biden administration hopes to address with new incentives to change zoning laws.

“There’s definitely people who’ve just been legislators versus governors who think the battle’s over once the president signs the bill, when actually that’s just the beginning,” Sen. Mark Warner, D-Va., a former governor, said. “And we’ve seen, specifically, things like broadband — well-intentioned efforts not really get the expanded coverage that’s needed. So how we put in place some kind of mechanism to measure implementation, I think, would be really important.”

The pressure is already on to manage benefits approved in prior Covid-19 relief bills. There have been delays in getting child tax credits to entitled taxpayers, for example, because the IRS lacks the resources to quickly process them.

Warner said he has been closely tracking implementation of state and local aid to make sure some unusual quirks in Virginia’s local governance structure don’t affect their payouts.

Democrats and allied groups are encouraged by the Biden administration’s experience. The Cabinet is stocked with former mayors and governors who have dealt with these issues firsthand, as well as many veterans of prior administrations like White House chief of staff Ron Klain, who was Biden’s chief of staff when Biden was vice president.

“It’s details where you always find the devil,” said Sen. John Hickenlooper, D-Colo., who served two terms as governor of his state and two terms as the mayor of Denver before being elected to Congress in 2020. “Obviously, with any large investment in infrastructure and a recovery plan, there are going to be places where you encounter the unexpected. And I will say that I’m impressed by the quality of the staff that are working on those issues.”

A cautionary tale is the 2009 stimulus, whose spending initiatives Biden oversaw as vice president. Then-President Barack Obama promoted the bill as being full of “shovel ready” projects that could quickly get people working.

But investments in ambitious initiatives like high-speed rail failed to get past opposition from Republican governors, who killed transportation projects in Florida and New Jersey. Cost overruns derailed projects in Democratic states like California, where a plan to connect San Francisco to Los Angeles is stuck on more modest Central Valley line additions that are still in progress.

Many voters didn’t immediately see or feel the benefits of the legislation, even as supporters now credit the clean-energy incentives with boosting the solar and wind industries and the mix of tax breaks and infrastructure projects with staving off a more severe recession.

The Biden administration has some advantages that Obama didn’t. A big one is time. Obama took over while the recession’s job losses were peaking and legislators were desperate to identify projects that could immediately put people to work. In Biden’s case, the economy is adding jobs, despite a weak report on Friday, and there’s already a $1.9 trillion stimulus law on the books.

“I do think they’ve taken a lot of lessons from Obama,” said Carol Browner, chairwoman of the League of Conservation Voters and a former EPA administrator under Obama. “With Obama, the focus was very much on what we called ‘shovel ready’ projects. If I understand where the administration is, they won’t be limited to shovel ready; they recognize some of these investments take more time.”

The challenges will still be significant.

Browner is concerned about navigating the complexities of the clean energy industry, where every step in the supply chain from mining raw materials to manufacturing could slow its growth if mishandled. But she’s impressed so far with the administration’s foresight.

“They’re not just taking one piece of a puzzle. They’re looking at the whole picture and making sure they’re moving all the pieces together,” she said.

Transportation experts say many of the bill’s goals are likely easier to implement than some of the more ambitious 2009-era efforts like high-speed rail, if not as flashy. While Transportation Secretary Pete Buttigieg is sharing viral memes about bullet trains connecting major cities across the United States and Amtrak is releasing plans for dozens of new routes, funding in the Biden plan is more likely to go toward shoring up existing lines like on the busy Northeast corridor.

Buttigieg, for his part, has stressed that he’s thinking ahead as to how transportation money would be distributed.

“It’s going to take a lot of work,” he said in interview on Kara Swisher’s New York Times podcast. “I mean, it’s one thing to write the check or sign off on the authorization for spending. It’s another to actually get these things in the ground, to get the broadband out to people, to construct the roads, whatever part we’re talking about.”

Adie Tomer, a fellow at the Brookings Institution’s Metropolitan Policy Program, said that much of the infrastructure funding would most likely go to thousands of small projects at the state and local level, which are often already planned out and easier to get off the ground efficiently than larger ones. Think bridge repairs more than The Big Dig.

“I have very little concern there are enough projects out there,” Tomer said. “The bigger question for me is how do we value return on investment: What are good projects versus questionable projects?”

With lots of individual components come lots of opportunities for things to go wrong, however, and Republicans will watch for waste, fraud and abuse.

In 2012, Republican presidential nominee Mitt Romney attacked Obama over a $500 million-plus Department of Energy loan guarantee for Solyndra, a solar company that ended up going bankrupt. “You don’t just pick the winners and losers. You pick the losers,” he memorably said in their first debate.

Less remembered is that one of the other “losers” Romney name-checked in the exchange was an electric car manufacturer named Tesla, a DOE loan recipient that went on to become the seventh-most valuable company in the world.

Now, the company’s success is proof of concept for Biden’s ambitious plan to build thousands of charging stations, and Democrats are hoping they can point to similar impacts when they look back on things in a decade.

With that in mind, some in the administration are trying to manage expectations, especially with potentially tens of billions of dollars going to research projects on advanced technology that may or may not pan out. Even in a best-case scenario, there are going to be duds.

“Sometimes you swing and miss,” Energy Secretary Jennifer Granholm told Politico Nightly this month. “And that’s OK.”

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Hollywood Star Mark Wahlberg Joins Power Plate as Key Stakeholder and Brand Ambassador

After 15 Years of Avid Personal Use, Film Star Takes Role of Leading Man for Vibration Training’s Leading Brand

MUMBAI – May 4, 2021 – Power Plate®, the global leaders in whole body vibration training equipment and programming, today announced worldwide film star Mark Wahlberg has officially joined the company as both an investor in parent company, Performance Health Systems, and brand ambassador for Power Plate. One of the most fitness-oriented of Hollywood’s A-list leading men, Wahlberg has been a steadfast Power Plate user for 15 years, with vibration training playing a central role in his ongoing personal training and wellness-focused lifestyle.

Highlighted by its ability to enhance and accelerate the benefits of conventional exercise, Power Plate’s unmatched PrecisionWave Technology™ allows users to move, feel and live better. It’s for these reasons that Wahlberg has utilized Power Plate products for so many years and has now officially joined the company.

With a diversified mix of products ranging from its gold-standard vibration plate models featuring the company’s PrecisionWave Technology, to its targeted vibration products such as the Roller, DualSphere and Pulse massage gun, Power Plate has been the dominant innovator and driving force for vibration training equipment and programming for more than 20 years.

“The fact that Power Plate has been relatively unknown for so long surprised me,” said Wahlberg. “I’ve been a satisfied customer for over a decade, so I decided to get involved in spreading awareness about their game-changing products.”

Over the past two decades, Power Plate has entrenched itself amongst elite athletic trainers, medical and rehabilitation professionals for its diverse range of benefits, and the totally unique ability to serve the widest range of users, from top athletes and fitness professionals, to deconditioned, elderly or disabled populations. Power Plates are used by countless collegiate and professional sports teams, as well as elite trainers and cutting-edge wellness and rehabilitation clinics around the world.

While Wahlberg’s notoriety and reputation as a fitness icon will be a valuable engine for mainstream awareness, his role will go beyond merely investor and ambassador. He will also serve as an active consultant for ongoing strategy, product and programming development.

“It’s not often you have the opportunity to align with an individual who can impact every facet of a business, from personal investment and business strategy, to increasing brand awareness and credibility, yet that’s exactly what Mark brings to Power Plate. He’s a rare individual whose voice resonates with consumers on a truly global level,” said Lee Hillman, CEO Performance Health Systems. “Over the years, Power Plate and vibration training has been unequivocally validated by medical, academic and exercise science, and yet it remains a bit of a mystery to too many people. We believe Mark can play an invaluable role in changing that, and we couldn’t be more thrilled to have him on board.”

For Wahlberg, Power Plate is the latest addition to an investment portfolio that includes other fitness-oriented brands and ventures that the actor discovered through his own personal use, including F45, a rapidly growing franchise of gyms focused on small-group functional training programs, Performance-Inspired, a provider of all-natural nutritional products and Municipal sport utility gear. The inherent synergies between these companies represent a host of potential strategic partnerships and mutually beneficial collaborations for Power Plate.

“Mark is so much more than a celebrity investor. He brings a deep understanding of fitness methodology, nutrition and business strategy,” said Hillman. “His involvement in our business carries with it an enormous array of possibilities, and we intend to explore them to the fullest.”

Power Plate with its PrecisionWave Technology is utilized and accepted by professional and collegiate sports teams and athletes, celebrities, major medical and rehabilitation centers, health and fitness professionals, leading health clubs and fitness and wellness enthusiasts around the world. To learn more about Power Plate products, programming and education, please visit PowerPlate.in For the latest updates about Power Plate, follow @PowerPlateIndia on Instagram and Facebook and @PowerPlateGulfandIndia on LinkedIn.

Power Plate India
MEDIA CONTACT INDIA
Nelke van Aspert
nelke@powerplate.in
91 22 40907050
Bandra Kurla Complex
Vibgyor Towers, G Block, Level 8, C62
Mumbai 400098

Power Plate is owned, manufactured and distributed by Northbrook, Ill.-based Performance Health Systems LLC, a global company delivering advanced technology solutions through its health and wellness equipment. Power Plate utilizes innovative science and technology to enhance movement through vibration for accelerated health, fitness and wellbeing results to improve quality of life at any age. Using Power Plate is the innovative, timesaving and results-driven way to move better, feel better, and live better.

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A Year After Lockdown: Latest Data On The State Of Small Business And Entrepreneurship

Rising optimism. Lingering fear and pessimism. Growing focus on workers not dollars.

Those are the high-level takeaways from a quick scan of recent small business surveys.

One year ago, most of the United States was well into lockdown. School had moved online. Offices had closed. Many retail stores were shut down. Only “essential” businesses were allowed to operate. As is well known by now, small businesses were hit especially hard by all this. By the end of April 2020, 22% of small businesses that had existed in February 2020 had disappeared. Those business losses were uneven across demographic groups.

This column provides the next in a series of occasional updates on how small businesses are faring—and how they say they’re feeling about their prospects. New data and analysis also provide more detail on the impact of the pandemic on small businesses.

In mid-February 2021, nearly half (45.6%) of small businesses surveyed in the Census Bureau’s Small Business Pulse Survey said they expected resumption of “normal” operations to take longer than six months. By mid-April, that figure had fallen to 36.8%.

This is an enormous improvement, from the largest sample of small businesses, in their economic outlook. The improvement is particularly impressive when you consider that, from August 2020 to early 2021, the pessimistic share had not fallen below 44%.

Increasing optimism is also found in results from a Goldman Sachs survey in mid-April of participants in its 10,000 Small Businesses program. There, 89% of small businesses were confident their business would survive. Similarly, in a report on the latest survey by the National Federation of Independent Business of its members, overall optimism and near-term sales expectations had risen compared to February. The NFIB “optimism index” is at its highest reading since November. The Small Business Index produced by the U.S. Chamber of Commerce and MetLife, released in mid-March, also showed improvement from the end of 2020.

Nevertheless, many small businesses appear reluctant to completely shake off concerns about the pandemic and its continuing impact. The headline summary of the Goldman Sachs survey, for example, reads “Doors Opening But Not In The Clear.” Likewise, the US Chamber-MetLife headline is, “small businesses’ health improves as economic concerns linger.”

In the Goldman Sachs survey, despite high levels of overall optimism, just 26% of small businesses were confident they could maintain payroll in the absence of additional government relief. Many face imminent exhaustion of funds from their Paycheck Protection Program loans.

The NFIB survey, despite improvement in the outlook for general businesses conditions, still shows a negative reading overall. More small businesses expect a worsening economy than an improving one—the overall outlook is still net negative and has been for four consecutive months.

It’s also clear from the surveys that workforce concerns might be part of what’s weighing on the confidence of business owners. In early January, 24% of small businesses in the Census survey said identifying and hiring new employees was their top need. By mid-April, that had risen to 32%. In the meantime, the share saying that additional financial assistance was their top need fell from 33.5% to 17.5% over that same period.

Hiring expectations in the U.S. Chamber-MetLife index rose compared to Q4 2020. And the share of small businesses telling the Census Bureau they increased employment rose five percentage points from January to April. (It remains small, rising from 3.4% to 8.5%.)

Finding workers, however, appears to the obstacle. The NFIB survey shows 42% of small business owners with job openings they can’t fill. That’s a record high.

One last note. While there have been various analyses and estimates of the economic hit that small businesses took during the pandemic, a new Federal Reserve report and QuickBooks survey contain some of the most detailed findings so far.

The new Fed report is an analysis of business owners of color, based on the Small Business Credit Survey that was fielded in Q3 2020. It sheds more light on just how disproportionate the impact of Covid-19 has been. Firms owned by people of color “reported more significant negative effects on business revenue, employment, and operations.” Despite rapid growth in business ownership by people of color before the pandemic, they entered the crisis in a generally disadvantageous position based on sales, employment, and credit access.

The QuickBooks survey was accompanied by analysis of small business bank accounts. This offers a look at ground-level impact. They found, for example, that as of March 2021 annual revenues for bowling alleys have fallen by $250,000 per business compared to pre-pandemic levels. That’s a 33 percent decline on average. For just the businesses in the QuickBooks sample, revenues fell by $4.6 billion in just one month, April 2020.

This sharp contraction has been followed by “sustained recovery” in many sectors: “for many small businesses, the recovery began almost immediately,” the report states. Monthly revenue growth has been particularly rapid since the beginning of this year. Monthly revenues in the seven hardest-hit industries had fully recovered, or close to it, by March 2021: hotels & lodging, museums and attractions, and movies were above pre-pandemic levels by March 2021.

Still, according to the Fed SBCS data (again, gathered several months before the QuickBooks data), business owners of color hold generally more pessimistic outlooks about the economy and their firms. As PPP is exhausted and policymakers look forward, they should take heart in the growing optimism among small businesses—yet remember that many still struggle.

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Enterprise Data Management Market Size, Software, Services, Managed, Professional, Deployment, Organization, Industry Vertical, Region And Regional Forecasts, 2020 – 2027

The global enterprise data management market size was valued at USD 61.95 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.7% from 2020 to 2027. Increased adoption of parallel processing architecture, increasing the need for on-time information, and the need for risk management are the major factors driving the market. Enterprise data management (EDM) helps organizations with the issues, which may result in mismanagement of data and implements a structured process for data delivery from the producer to the data user. It uses various software, network infrastructure, business judgment, and regulations to manage the flow of data.

Organizations follow certain aspects and collaborations of inter teams such as finance, IT, and operations for the implementation of EDM. It is a vital function in big data for the measurement of the financial and other data in any organization. It is a broad approach used for defining, prevailing, acquiring, and preserving the quality of complete data related to the business processes of an organization. It creates the policy and proprietorship of data types and their sources. It also helps in creating a strategic framework for the technology foundations of data life cycle management.

Currently, many organizations across industries have offices across the globe. The data changes according to the location of the organizations, which acts as a challenge for data procurement. Therefore, enterprise data management solutions help in single-source reporting and allow multi-user capability, which further provides clients with unchanging data in every location. EDM caters to various industry verticals such as banks and insurance companies, finance, manufacturing, among others, the capability to achieve valuable insights in the historical, current, and forecast market changes that may affect the needs of their clients. Reshuffling the workflows at such a point of time has a massive influence on an organization’s baseline. Thus, EDM proves beneficial to such organizations and provides risk management and accuracy of information.

Data quality, data governance; data warehousing; data migration; data integration; data management, and data security are the pillars of enterprise data management. The flow of the data depends on the start to end or end to end management strategy adopted by the organization to ingest, store, transform, report, and analyze the data. Therefore, Business Analytics or ETL tool, data pipeline, data warehouse, and data visualization tools help the organization to design its EDM tool.

The software segment accounted for the largest revenue share of around 74% in 2019. The software segment includes data quality, data governance, data warehousing, data migration, data integration, data management, data security, and others. Organizations are increasingly adopting these solutions to manage the data. The companies such as Oracle Corporation, IBM, SAP SE, Informatica, among others, offer these solutions to the end-user industries to manage the data.

The services segment of the enterprise data management market accounted for significant share and thus expected to register a CAGR of 10.6% from 2020 to 2027. The services segment includes managed services and professional services. The managed services segment is expected to expand at a CAGR of 11.9% from 2020 to 2027 owing to the organizations aiming at improving their customer experiences and speeding up their critical and transactional operations.

The large enterprise segment accounted for the largest revenue share of around 69% in 2019. Large enterprises across BFSI, telecom, retail, among others, generate, create, and receive massive data daily. This data needs to be stored in such a way that it can be accessed and utilized. Thus, they aim at adopting significant data approaches to forecast or classify probable threats. Therefore, it allows enterprises to make faster business decisions through this data.

The small and medium enterprise segment accounted for a significant revenue share and is expected to expand at a CAGR of 10.1% from 2020 to 2027. The increase in regulatory compliances and regulations, such as the Sarbanes-Oxley Act of 2002, Payment Card Industry Data Security Standard, General Data Protection Regulation, The International Organization for Standardization 27001, among others, are expected to impose data management in the organizations.

The on-premise segment accounted for the largest revenue share of around 62% in 2019. Currently, many organizations still believe in storing the data regularly on a local server, which can be accessed anytime. Data storage on the local servers has been a traditional and costlier method of data management.

The cloud deployment segment is expected to register a significant CAGR of 13.1% from 2020 to 2027. Cloud deployment is the cheapest form of storage as compared to on-premise storage. This data stored on the cloud can be accessed from multiple locations, with minimum support and low maintenance, thus driving the adoption of cloud deployment. In addition, cloud deployment allows substantial data storage through different parallel processing architecture. Cloud deployment mode also provides financial benefits to the enterprises as they require minimal capital investment, flexible payment options, and no dedicated hardware requirement.

The BFSI segment accounted for the largest revenue share of around 31% in 2019. BFSI industry accumulates a variety of consumer finances. This data needs to be managed with the accuracy and emphasizes on making efficient business decisions. Adoption of enterprise data management in the BFSI helps to handle information efficiently and fulfilling the regulatory obligations and set out predictive models for risk assessment.

The IT and telecom industry segment accounted for significant revenue share and is expected to expand at the compound annual growth rate of 10.5% from 2020 to 2027. The growth is attributable to the presence of OTT providers and 5G rollout. Data security is a critical concern for these OTT providers, which hold large data. In addition, they need to maintain data quality and ensure business continuity. Therefore, they develop a data quality framework.

The North American market for enterprise data management accounted for the largest share of around 39% in 2019. The region has the highest adoption owing to the presence of the small, medium, and large enterprises in the region. In addition, the region has the appearance of key companies such as SAS Institute, Microsoft, Teradata Corporation, IBM, Cloudera, Talend, Informatica, GoldenSource Corporation, Amazon, and MuleSoft LLC.

The Asia Pacific region is anticipated to expand at the highest CAGR of 10.7% from 2020 to 2027 owing to the increasing industry verticals and adoption of big data in the region. The growing industrialization has resulted in the production of numerous data, therefore driving the need for enterprise data management in the region.

The key players that dominated the global market in 2019 include Oracle Corporation, AWS, IBM, SAS Institute, Symantec, SAP SE, Talend, Teradata Corporation, among others. These players offer a wide range of data management services and cater to industries such as retail, BFSI, healthcare, manufacturing, and others. The barriers to the new entrants are high as the key players dominate the market. New product launches and upgrades remain the key strategy adopted by these players. In February 2018, Oracle announced the Oracle Enterprise Data Management Cloud, which provides a single platform for easy management of critical enterprise data assets and enhanced data integrity and placement. In January 2020, Oracle launched a new Oracle Enterprise Manager, which automates database migration and streamlines the hybrid cloud environments. Some of the prominent players in the enterprise data management market include:

  • Oracle Corporation
  • AWS
  • IBM
  • SAS Institute
  • Symantec
  • SAP SE
  • Talend
  • Teradata Corporation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the global enterprise data management market report by component, services, deployment, organization, industry vertical, and region:

  • Component Outlook (Revenue, USD Billion, 2016 – 2027)
    • Software
    • Services
  • Services Outlook (Revenue, USD Billion, 2016 – 2027)
    • Managed Services
    • Professional Services
  • Deployment Outlook (Revenue, USD Billion, 2016 – 2027)
    • Cloud
    • On-Premise
  • Organization Outlook (Revenue, USD Billion, 2016 – 2027)
    • SME
    • Large enterprise
  • Industry Vertical Outlook (Revenue, USD Billion, 2016 – 2027)
    • IT & Telecom
    • BFSI
    • Retail & Consumer Goods
    • Healthcare
    • Manufacturing
    • Others
  • Regional Outlook (Revenue, USD Billion, 2016 – 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
    • Asia Pacific
      • China
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

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The global Non-PVC IV Bags Market Size, Industry Report, Forecasts, 2021 – 2028

The global non-PVC IV bags market size was valued at USD 1.51 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028. Rising demand for preventive measures for errors, such as improper dose delivery, and augmented demand for advanced IV containers are among the major growth-driving factors of the market. Issues with traditional IV containers include drug-packaging material interactions and difficulties in transporting, handling, and disposing of containers. The majority of these issues can be prevented by using non-PVC IV bags. As a result, demand for the same is predicted to skyrocket during the forecast period.

Furthermore, there is a growing demand in the treatment of oncology processes, mainly for chemotherapy and for targeted drug delivery, as most of these therapeutic agents are prone to interaction with the plasticizers and have a tendency to convert into harmful agents. This discordancy can be minimalized by the use of containers without plasticizers. These bags are made of Polypropylene (PP) and Ethylene-Vinyl Acetate (EVA). Cancer treatment affects the human body by causing physical obstructions, GI dysfunction, and ulcers and deprives the human body of nutrition. Thus, they must be externally injected. The demand for IV bags has risen significantly owing to the increased cases of cancer.

For instance, according to the World Health Organization (WHO), cancer is the second leading cause of death across the world. It further stated that an estimated 9.6 million deaths, i.e., 1 in 6 deaths, were reported due to cancer in 2018. The American Cancer Society estimated that more than 1.7 million new cancer cases were diagnosed in America in 2019. From the data by Cancer Research U.K., every year 36,7000 new cases of cancer are reported in the U.K. Thus, the increasing prevalence of cancer is the most promising factor for the growth of the IV solutions market.

Several firms are turning to plasticizer-free, biologically inert materials to substitute the use of PVC (polyvinyl chloride). In the past 5 years, B. Braun has spent around USD 500.00 million in developing innovative ways to provide PVC and DEHP-free product lines. The development and availability of modern materials in different designs are expected to boost growth through the replacement of glass and PVC containers. In March 2021, Fagron Sterile Services U.S. (FSS), a 503B outsourcing leader, announced the addition of a new platform – intravenous (IV) bags – to its product portfolio.

The other factors supporting the market growth include the increasing reach of the local manufacturers in the global market, stringent regulations against the usage and disposal of PVC, and healthcare infrastructure development in emerging countries. Moreover, technological advances in service quality and an increased number of hospitals worldwide are few additional factors that drive the market. There have been growing concerns in the medical field of PVC IV bags posing a risk to human health and the environment due to phthalates leaching from equipment.

Furthermore, it results in the production of toxic HCL by disposal of PVC products using the incineration process. This further contributes to acid rainfall. Building IV bags, made of PVC-free material with thermal stability, moisture-barrier properties, and environmentally-friendly disposal are therefore made for companies like Baxter, Hospira, and B. Braun Melsungen AG. Hence, with the adoption of PVC-free IV bags, the healthcare industry can make a significant stride in protecting the health and safety of patients globally.

The single-chamber segment accounted for the largest revenue share of over 63% in 2020. The usage of single-chamber products is increasing constantly as IV bags replace other IV containers. The advent of non-PVC materials has accelerated the replacement of glass containers with plastic bags, owing to benefits, such as the ease of handling, transportation, and disposal. Irrigation fluids, drip bags, and sterile water are also commonly used intravenous solutions. As a result, single-chamber bags are widely used.

The multi-chambered segment is estimated to exhibit the fastest CAGR during the forecast period. Multi-chambered IV bags are preferred for intravenous therapy when a combination of medications must be administered to the patient. Multi-chamber products are manufactured from materials, such as non-PVC film with easy peel-off and fast-seal properties that are widely used in the healthcare industry for any emergency.

Moreover, these products are beneficial in the pharmaceutical industry as they lower the inefficiency of standard IV bags that are commonly used in the market. Furthermore, due to their excellent stability, high-pressure agility, outstanding transparency, toughness, and thermal sealing, as well as the fact that they are reusable, these bags are widely used in pharmaceuticals. Thus, growing product utility in several materials, such as parenteral nutrition and drug reconstitution, along with the availability of customized product offerings are expected to drive the multi-chambered segment growth.

The EVS segment held the largest revenue share of more than 33% in 2020 and is anticipated to witness considerable growth over the forecast period. It is the most widely used PVC alternative. The material is anticipated to be widely used in blood banks and the storage of frozen mixtures. Growing recognition and high demand for blood and blood component storage as a result of an increasing number of blood banks are projected to boost the segment growth over the forecast period.

Moreover, the demand for EVA infusion bags is expected to be driven by increased understanding of parenteral nutrition therapy and the high prevalence of Chronic Kidney Disease (CKD). For instance, according to the CDC, more than 1 in 7, that is 15% of the adult population in the U.S., or 37 million people, are likely to have CKD. Compounding fluids are delivered parenterally using EVA bags. Various medicines are sometimes combined using ingredients or drugs.

For instance, fluid from compounding parenteral nutrition and chemotherapy medications. The copolyester ether segment is projected to exhibit the fastest CAGR during the estimated period. Durability, transparency, chemical resistance, and the ability to withstand a variety of sterilization processes, such as autoclave, radiation, and electron beam, are some of the benefits associated with copolyester ether.

Copolyester ether’s strength is increased by the addition of other materials, such as PP and other polyolefin resins. The development of Ecdel elastomer has proven to be a watershed moment in the evolution of copolyester ether in pharmaceutical packaging. Abbott Laboratories, Sealed Air Corporation, B. Braun Melsungen AG, and Eastman Chemical Company are among the key companies engaged in developing these combinations.

The liquid mixture segment captured the largest revenue share of over 78% in 2020 and will retain the leading position throughout the forecast period. This growth can be credited to the implementation of novel designs and the high use of IV drips in hospitals. In the blood banks, there is an increasing demand for specialized IV containers, which resist low temperatures and offer greater security than PVC.

In addition, major players in the non-PVC IV bags market are concentrating on increasing their production to gain a higher market share. For instance, in November 2019, Grifols initiated the production at its novel blood-collection systems plant in Brazil with a capacity of more than 10 million blood collection bags yearly.

The market share obtained from non-PVC IV bags used for frozen mixes is very low. Bags of PVC tend to explode at low temperatures. However, EVA has been considered to be a successful alternative to the lower temperatures of PVC. Thus, the segment is estimated to register the fastest CAGR from 2021 to 2028. Some examples of frozen mixture include methylprednisolone, cefazolin, ceftriaxone, nafcillin, and nicardipine hydrochloride.

North America captured the largest revenue share of more than 46% in 2020. In the U.S., strict regulations aimed at improving patient safety have increased the demand for non-PVC IV containers, which provide treatments without any harm. Moreover, the demand for IV bags has risen significantly due to the increased prevalence of stomach cancer. For instance, the American Cancer Society estimated that in 2020 there were about 27,600 cases of stomach cancer in the U.S. The patients suffering from stomach cancer are unable to ingest food through the mouth and thus have to entirely rely on total parenteral solutions for dietary needs and survival. This might surge the demand for EVA infusion bags, which, in turn, is expected to boost the regional market. In addition, the rising adoption of novel drug delivery systems and technological innovations are anticipated to push the market growth in this region.

Asia Pacific is expected to be the fastest-growing regional market during the forecast period. The advent of local manufacturers that encourage international demand by selling goods at affordable rates, increased foreign direct investment, and rapid improvement in healthcare infrastructure, including a rise in the number of hospitals, clinics, and blood banks, are all factors that are having a significant effect on the industry’s growth.

Key players are involved in adopting strategies, such as mergers & acquisitions, partnerships, and new product launches to strengthen their foothold in the global market. For instance, in July 2019, Baxter received the U.S. FDA approval for Myxredlin, the 1st and only ready-to-use insulin for IV infusion.

Key players are investing heavily in R&D to manufacture technologically advanced products. For instance, in May 2019, Sihuan Pharmaceutical Holdings Group Ltd. launched the “non-PVC solid-liquid double chamber bag for ceftazidime/sodium chloride injection” cooperatively developed by the Group and its associated company Beijing Ruiye Drugs Manufacture Co. Ltd. The National Medical Products Administration (NMPA) of the People’s Republic of China has approved it for drug registration. In China, the Group is the first to obtain certification for a “non-PVC solid-liquid double chamber bag for ceftazidime/sodium chloride injection. Some prominent players in the global non-PVC IV bags market include:

  • RENOLIT
  • Baxter
  • Angiplast Pvt. Ltd.
  • Shanghai Xin Gen Eco-Technologies Co., Ltd.
  • Jiangxi Sanxin Medtec Co., Ltd.
  • PolyCine GmbH
  • Kraton Corp.
  • B. Braun Melsungen AG
  • Pfizer, Inc.

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global non-PVC IV bags market report on the basis of product, material, content, and region:

  • Product Outlook (Revenue, USD Million, 2016 – 2028)
    • Single Chamber
    • Multi Chamber
  • Material Outlook (Revenue, USD Million, 2016 – 2028)
    • Ethylene Vinyl Acetate (EVA)
    • Polypropylene
    • Copolyester Ether
    • Others
  • Content Outlook (Revenue, USD Million, 2016 – 2028)
    • Frozen Mixture
    • Liquid Mixture
  • Regional Outlook (Revenue, USD Million, 2016 – 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • Japan
      • China
    • Latin America
      • Brazil
      • Mexico
    • MEA
      • South Africa
      • Saudi Arabia

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Magnetic Flow Meters Market Size, Industry Growth Report, 2022

Rising demand for measuring mass, volume, linear & non linear flow rate in the oil & gas sector is expected to be a key driver for the global magnetic flowmeter market growth. In addition, cost efficiency and ease of installation may also catapult demand. Advance capabilities with aforementioned factors make the product margin high, making it the largest type of flowmeter market by revenue. Magnetic flowmeters are also referred to as mag meters.

Magnetic flowmeter is an instrument which can measure water-based or conductive volumetric flow including pulp & paper slurries and black liquor. It is also used in detecting flaws and impurities, which is expected to provide avenues for market growth over the next seven years. In addition, development and updation of certain standard norms for impurities may instigate manufacturers to develop better instrument, thereby contributing towards future growth. Advancement in electromagnetic technology is expected to make the product better and more accurate, which may further increase demand. Continuous technological improvement has resulted into introduction of two wire mag meter that utilizes available power from the loop-power supply, which reduces wiring costs resulting into low installation cost. Furthermore, their application in non-intrusive measurement may also increase the industry demand. Development of battery controlled and wireless mag meter is also expected to drive the future market growth. This improvement has reduced complexity involved in installment of instrument at remote places. It is ideal for applications where low maintenance and low pressure drops are required. The instruments are easy to maintain, thereby reducing the maintenance cost which may also be key growth factor over the forecast period. Water shortage and growing population in countries such as China and India may result into substantial growth in water treatment industry, thereby providing avenues for growth over the foreseeable future. Several suppliers are integrating advanced technology to their products, for instance an adhesion diagnostic level function in the product that monitors the working condition of electrodes. This further increases their application level, which may spur demand. Mag meters when equipped with LCD alarm indicator bubble detection may reduce noise, which may further catalyze the industry demand.

Inability to measure non conductive liquids such as hydrocarbons is expected to be a main challenge to the industry expansion. Mag meters are classified into in-line, insertion and low flow magnetic flowmeter. Rising raw material cost may also pose a challenge to industry growth over the next seven years. The products are increasingly used in several applications such as water & waste water treatment, chemicals, oil & gas, food & beverages, pharmaceutical, pulp & paper and metal & mining industries. They are increasingly used in the water & waste water treatment and oil & gas industry. Chemical and pharmaceutical industries are expected to emerge as prominent application segments owing to high number of chemical industries in developing regions.

Europe remains the largest market; however due to increasing requirements in waste water treatment plants, Asia Pacific may gain considerable share over the foreseeable future. Middle East & Africa region may also witness high growth due to substantial rise in the oil & gas industry. Shale gas & oil expansion in North American region is also expected to impel demand over the forecast period.

Key industry participants include Emerson Electric Company, Honeywell International Inc., Endress+Hauser AG, Azbil Corporation, Omega Engineering Inc., Siemens AG, ABB Ltd., Yokogawa Electric Corporation, Krohne Messtechnik GmbH and Hitachi Ltd. The industry is witnessing merger, partnership and acquisitions among the prominent players in order to establish themselves as key suppliers. New product development is expected to be centered on sanitary applications due to rising need for waste water treatment.

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Jojoba Butter, Jojoba Esters Personal Care & Cosmetics, Pharmaceuticals Forecasts, Market Size Report 2020 – 2027

The global jojoba oil derivatives market size was valued at USD 28.39 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2020 to 2027. The growing inclusion of jojoba oil derivatives, especially esters and wax, in skincare and hair care products is estimated to generate demand from developed economies with robust cosmetics manufacturing bases, including the U.S., France, Italy, and the U.K. The personal care and cosmetics industry is preferring plant-sourced and renewable alternatives to paraffin waxes, petrolatum, and mineral oils. Jojoba oil derivatives have been identified as natural products meeting these criteria and fulfilling demand from a large customer base in the industry.

Additionally, the favorable regulatory scenario in North America and European countries, along with the mounting demand for organic and natural cosmetic products, is estimated to trigger the market growth in the near future. State-of-the-art production processes, harvesting, and leading-edge irrigation techniques assist manufacturers to produce these derivatives with strict international quality standards.

However, with the unprecedented outbreak of COVID-19, which has led to the closure of factories and manufacturing sites globally, there has been a significant decline in the demand for active ingredients and raw materials. Several plants have been shut down and many are running at reduced capacities, which may result in a supply-demand gap.

Jojoba esters accounted for the largest revenue share of more than 40.0% in 2019 and are anticipated to maintain their lead over the forecast period. These derivatives possess no trans isomers and are also utilized as elements of extremely pigmented cosmetic systems, wherein they enable uniform pigmentation, surface wetting, and pigment dispersion on application to the skin. Jojoba esters are widely utilized in the formulation of personal care and cosmetic products as they contribute to the moisturizing effect of several cosmetic formulas, which can otherwise be usually “drying” once used on the skin.

Jojoba butter emerged as the second-largest product segment in 2019. It comprises approximately 80.0% of jojoba oil, along with vegetable oil and beeswax, which augments the product’s capability to nurture the skin and leave it supple, silky, and soft. Jojoba butter is utilized in the formulation of several personal care and cosmetic products owing to its characteristic of getting rapidly absorbed by the skin and non-sticky nature. The product can also be utilized in combination with fragrances and active substances, which can create unique cosmetic blends. In addition, the growing preference for the product in pharmaceutical formulations to promote blood circulation and the body’s metabolism is anticipated to drive the product demand.

The personal care and cosmetics application segment accounted for the largest revenue share of above 90.0% in 2019 and is anticipated to maintain its lead over the forecast period. Jojoba is a natural antioxidant and a natural carrier of vitamin E. Consequently, its derivatives are extensively used in the formulation of skincare and hair care products. According to Cosmetics Europe, skincare has emerged as the largest segment in the European personal care and cosmetics market, followed by toiletries and hair care products. Moreover, high demand for products from color cosmetics formulations, such as eye shadows, lipsticks, make-up products, foundations, and eyeliners, is anticipated to boost the product demand over the forecast period.

Jojoba oil derivatives are used in the treatment of skin conditions and as a carrier for medicines that need to penetrate the skin. Jojoba oil derivatives are also utilized in topical creams and ointments to treat delicate skin conditions, with no negative side effects or reported allergic reactions. Additionally, growing apprehensions concerning the side effects of synthetic and chemical additives used in the food and beverage sector, coupled with the high nutritional value of jojoba oil, are anticipated to boost the demand for jojoba oil derivatives in the food and beverage sector.

Jojoba oil derivatives are majorly used in candle making to increase the shelf life of the product. These derivatives also find applications in several other products, such as detergents, disinfectants, surfactants, and paints. The extensive utilization of disinfectants during the COVID-19 pandemic across the globe to maintain hygiene and clean surroundings at both residential as well as commercial places is estimated to have a positive impact on the product demand in these applications over the forecast period.

Moreover, the growing inclusion of jojoba oil derivatives in the formulations of antifoaming agents, driers, emulsifiers, protective coatings, plasticizers, and resins is projected to contribute to the market growth over the forecast period. However, the major rise in demand is anticipated from the personal care industry, which has been growing significantly due to the increasing demand for essential products.

North America accounted for the largest revenue share of over 30.0% in 2019 and is anticipated to maintain its lead over the forecast period. In North America, significantly evolving industries, coupled with constant R&D activities among the manufacturers and formulators to incorporate natural and organic ingredients, have positively influenced the market growth in the region. The 1971 ban on whale oil in the U.S. has increased the penetration of the product in the personal care and cosmetics applications. Currently, the product consumption is mostly driven by the U.S. market owing to the inclination of the U.S. consumers toward bio-based ingredient products.

The European market is primarily driven by the mature personal care and cosmetics, pharmaceuticals, and food and beverage industries. France remains one of the strongest pillars of the personal care and cosmetics production and export industries in Europe. The growth in the region is expected to be further augmented by its major focus toward the development of a bio-economy, which supports the application of natural and biobased ingredients across the manufacturing industries. A significant contribution in R&D for the optimization of production and diversification of application is expected to boost the market growth.

The manufacturers of jojoba oil derivatives are inclined toward backward integration by harvesting seeds in their own farms, extracting oil, and further producing derivatives. The prices of raw material are volatile due to the irregular availability of seeds and adverse climatic conditions. However, the manufacturers, who are integrated backward, have a competitive edge in terms of pricing, and lower overall operational costs.

Key manufacturers in the market are also focused on expanding their geographical presence, technological optimization, and new product development. For instance, Vantage Specialty Chemicals has enlarged its product portfolio and it offers application-specific products. The company offers jojoba esters in several forms, such as esters 15, 20, 30, 60, and 70, which are suitable for different applications. Some prominent players in the global jojoba oil derivatives market include:

  • Desert Whale Jojoba Co.
  • Ecooil
  • Inca Oil SA
  • JD Jojoba Desert
  • LaRonna Jojoba Company
  • Nutrix International LLC
  • Provital
  • Purcell Jojoba
  • The Jojoba Company Australia
  • Hallstar
  • Vantage Specialty Chemicals

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this report, Grand View Research has segmented the global jojoba oil derivatives market report on the basis of product, application, and region:

  • Product Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
    • Jojoba Butter
    • Jojoba Alcohol
    • Jojoba Esters
    • Jojoba Proteins
    • Jojoba Wax
    • Others
  • Application Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
    • Personal Care & Cosmetics
      • Hair Care
      • Skin Care
      • Color Cosmetics
      • Sun Care
      • Body Care
      • Others
    • Food & Beverage
    • Industrial
    • Pharmaceuticals
    • Others
  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Russia
    • Asia Pacific
      • China
      • Japan
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia

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HRIS: Human Resource Information System Overview and Key Trends – Latest Whitepaper

The Information technology applications have predominantly taken over the Human Resource Management (HRM) functions including Human resources software, core IT systems, cloud-based and outsourced. Human Resource Information System (HRIS) technology trends are constantly evolving with vendors offering new and cutting-edge solutions. Human resources as a genre, is progressing at a rapid pace. The expansion of organizations has led to the requirement of a more sophisticated technology to handle the vast data associated with the growing number of employees. Introduction and integration of cloud, artificial intelligence, machine learning and other technologies with HR system and software is expected to improve the capabilities of existing ones. Several organizations are investing heavily in different human resource software in order to effectively manage information and improve outcomes.

Core HR systems commenced by taking on Human Resources administrative work and keeping track of basic employee information. Core HR systems are usually tied to benefits administration and payroll.

HRMS applications are responsible for the chunk of spending in the overall human resources software market. Few key points include recruiting, performance management, and scheduling tools. Top providers in this domain include SAP, Oracle, and ADP.

HCM or Human Capital Management systems enable capabilities that help in automating recruiting, applicant tracking, on-boarding, and daily performance issues which aim at valuing employees for effective placement

HRIS programs upgrade and integrate core systems and cloud-based performance by relieving the IT personnel to pursue overall corporate and operational needs, encouraging employee and management interface while facilitating administration and communication over multi-site operations.

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