Category: Market Snapshot

What do earthquakes in Japan, cancer diagnostics, and arms security have to do with each other?

Radiation monitoring and detection devices are part of an evolving social, political, and technological landscape related to shifts within the energy, medical, defense, and security verticals. The breadth of these verticals presents interesting challenges and opportunities when looking for both solutions and opportunities within the radiation monitoring and detection market.

 

As studied and reported by MarketsandMarkets, the global radiation detection, monitoring, and safety market was valued at $1.65 Billion in 2016 and is projected to reach $2.26 Billion by 2022, at a CAGR of 5.7%. The key factors driving the growth of this market are growing security threats, growing prevalence of cancer worldwide, increasing safety awareness among people working in radiation-prone environments, growing safety concerns post the Fukushima disaster, growing security budgets of global sporting events, growth in the number of PET/CT scans, increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment, and use of drones for radiation monitoring. In terms of the detection and monitoring products used in this market, gas-filled detectors accounted for the largest market share, which is attributed to their ease of use, durability, portability, and cost.

 

In 2017, the healthcare segment accounted for the largest share of the global radiation detection, monitoring, and safety market, due to the growth in the number of PET/CT scans and increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment, increasing research activities, and growing incidence of cancer. However, the homeland security & defense segment is expected to grow at the highest CAGR from 2017 to 2022, which is attributed to the increased spending on internal security and military expenditure. Nuclear energy alternatives such as renewable energy, shortage of nuclear power workforce, and nuclear power phase-out are expected to restrain the growth of this market during the forecast period to a certain extent.

 

The leading industry players in this market include: Thermo Fisher Scientific (US), Mirion Technologies (US), and Landauer (US). Other major players include Arktis Radiation Detectors (Switzerland), Radiation Detection Company (US), Ludlum Measurements (US), Fuji Electric (Japan), Arrow-Tech (US), Ametek (US), and Nuclear Control Systems (UK).

 

Within the government space, security treats appear to propel interest and investment in radiation monitoring and detection. For example, the National Institutes of Health (NIH) Radiation and Nuclear Countermeasures Program (RNCP) works on the development of medical countermeasures to mitigate/treat radiation injuries.  Furthermore, the Institutes work on radiation monitoring and detection focused on worker and patient safety. While working from a different vantage point, the Domestic Nuclear Detection Office (DNDO) within the Department of Homeland Security (DHS) Countering Weapons of Mass Destruction Office focused on implementing domestic nuclear detection efforts in response to radiological and nuclear threats, as well as integration of federal nuclear forensics programs. Additionally, DNDO coordinates the development of the global nuclear detection and reporting architecture, with partners from federal, state, local, and international governments and the private sector. The Department of Energy (DOE) also plays many different roles, the National Nuclear Security Administration (NNSA) is the technical leader in responding to and resolving nuclear and radiological threats across the globe; the Office of Nuclear Smuggling Detection and Deterrence (NSDD) works with international partners to strengthen capabilities to deter, detect, and investigate the smuggling of nuclear and radiological materials, and many of the national labs are working on technology development efforts. For example, technologies developed at PNNL were the first to detect radioactive isotopes entering the continental U.S. following their release from the Fukushima nuclear reactors in northern Japan.

Posted on September 24, 2019 by Eliza Gough

How smart is your city? While this may seem like a subjective question, it is now a question that may be answered on a global scale. Increasing urbanization has given rise to smart cities, which are cities that utilize Internet of Things (IOT) sensors and technology to connect components across a city to gather data and improve the lives of both citizens and visitors. Smart cities are designed and conceptualized to provide improved sustainability and livability by improving traffic and saving energy. Just in case you were curious to see how smart your city is, the IESE Cities in Motion Index provides a global ranking with London garnering the top spot in 2019, and New York City placing highest among U.S. cities.

 

On a global scale, MarketsandMarkets reports that the smart cities market is expected to grow from $308.0 billion in 2018 to $717.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.4%. This growth is attributed to the increasing demand for public safety, rising urban population, and growing government initiatives. Within the smart cities market, smart transportation, which works to enhance existing and new transport infrastructural projects, is expected to be the largest market segment by market size. However, the smart citizen services segment it forecast to grow at the largest CAGR. From a regional perspective, North America held the highest share in the market in 2016, based on the growing adoption rate of smart technologies in the region. BCC Research reports that the North American smart city market should reach $419 billion by 2023 from $196.5 billion in 2018 at a CAGR of 16.3%. However, this domination is expected to be surpassed by the Asia-Pacific (APAC) region, due to increasing government initiatives. In APAC, China is expected to lead in the region, as the country is intensifying efforts to transform its 500 cities into smart cities, and has already begun smart city pilot projects.

 

Within the global smart cities market, the key and emerging market players include Cisco Systems (US), IBM (US), Siemens AG (Germany), Schneider Electric (France), Ericsson (Sweden), Vodafone (UK), Itron Inc. (US), Verizon (US), Telensa (England), ABB (Switzerland), Honeywell International Inc. (US), SAP SE (Germany), KAPSCH Group (Austria), and AGT International (Switzerland). Analysts report that these leading players have adopted organic and inorganic strategies, including product launches, acquisitions, business expansions, and partnerships, to expand their business reach and drive their business revenues. Moreover, various smart cities solution providers are utilizing venture capital funding, funding through Initial Coin Offering (ICO), new product launches, acquisitions, and partnerships and collaborations, to increase their presence in the global market.

 

Frost & Sullivan coverage of this market reports that the need for smarter solutions and energy-efficient living will drive and foster growth, and be measured on the level of intelligence and integration of infrastructure that connects the healthcare, energy, building, transportation, and governance sectors. Furthermore, Frost & Sullivan sees smart cities as a driving force in the development and adoption of autonomous and semi-autonomous vehicles. For example, efficient and safe mobility is at the heart of any smart city, and several vehicle safety technologies such as Predictive Traffic Time, Automated Parking, Vehicle-to-Pedestrian Communication, Connected Traffic Light Information, and Virtual Cockpit have the potential to help smart cities and their inhabitants achieve safe, effective and affordable transport solutions.

Posted on September 10, 2019 by Eliza Gough

Are you a small business trying to take a product or service to market, on limited resources? Are you playing the role of marketing, payroll, human resources, sales and proposal writing?

Well, you’re not alone. In fact, you may well be closer to the norm than you think. While functioning efficiently on limited resources feels nearly impossible some days, identifying the next source of funding may be an even greater challenge. If that challenge isn’t enough to keep you up at night, you then have the daunting task of convincing potential investors that you fully understand your target market, what that market will look like in 5 years and how much of that market you expect to capture.

Convincing investors that you understand your market begins with reliable and current research data; which often comes at a premium cost. You could purchase a single analyst report, which may vary in price from $4,500-$10,000 per source, hire a private consultant for the duration of the project, or fund a dedicated research staff with wages, benefits and overhead. But let’s assume that you don’t have tens of thousands of dollars under the company mattress to invest in these research strategies. Where can a small business find the market numbers and customized research findings that potential investors are looking for?

Dawnbreaker has been working with small business for over 20 years. Our team, comprised of business acceleration managers and market researchers has access to hundreds of formal analyst reports from industry-leading subscription databases, including Markets and Markets, BCC Research and Frost and Sullivan. We pull current information from a multitude of subscription sources, not available to most small businesses to secure the market intelligence expected by potential investors. Working together our teams then quickly translate this information into commercialization strategies that will help you more quickly and reliably arrive at your targeted destination. Armed with excellent information and appropriate strategies you will be well prepared to “pitch” your opportunity to potential investors.

Posted on October 13, 2017 by Eliza Gough