Technology Innovation to Spur F&B Processing and Packaging Equipment Market Past $78 billion by 2022

Technology Innovation to Spur F&B Processing and Packaging Equipment Market Past $78 billion by 2022

December 18, 2018 UAE Business 0

Automation, integration and advancements in customized equipment will create fresh growth, finds Frost & Sullivan

Growth in the global food and beverage processing and packaging equipment market looks promising over the next four years. Frost & Sullivan’s latest analysis reveals that improved economic conditions in emerging nations, changing dietary preferences globally, and a rising demand for nutritious and ready-to-eat food products are driving demand for food processors and boosting growth in the packaging equipment market. The global food and beverages processing and packaging equipment market is expected to expand at a CAGR of 4.1% from 2017 until 2022 and reach $78.6 billion.   Read more

Technology Innovation to Spur F&B Processing and Packaging Equipment Market Past $78 billion by 2022

Forecast Growth in Electronic Test and Measurement Industry

October 8, 2018 UAE Business 0

Autonomous driving, 5G, Internet of Things (IoT), data centers, power applications, and new high-speed digital standards are the growth engines of the electronic test and measurement (T&M) equipment market for the next five years. The next wave of growth has begun with the technologies making their way down the product lifecycle, from research and development to manufacturing and deployment. Greater complexity and technology convergence will spur demand across verticals, with the largest opportunities coming from communications, semiconductors and computing industries, and the fastest growth in industrial and automotive verticals. Market winners will be those able to meet the demand while addressing the specific requirements of applications. Read more

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RAK Insurance wins ‘2018 UAE Medical Insurance Company of the Year Award’ at the Frost & Sullivan Middle East Best Practices Awards Banquet

June 6, 2018 UAE Business 0

Ras Al Khaimah National Insurance Company (RAK Insurance) has more than 4 decades of experience in medical insurance with numerous offerings catering to both individuals and corporates. RAK Insurance offers the largest medical insurance offering to group clients with more than 250 products. It has a diverse portfolio for individual clients with the option to choose from 14 medical insurance packages. Read more

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Frost & Sullivan Best Practices Award: IDEMIA Awarded As The Company Of The Year In The Global Biometric Authentication Solutions Market

April 17, 2018 UAE Business 0

What is Biometrics, and particularly, what role is it playing in the world today? Well, for starts, Biometrics refers to the application of statistical analysis on biological data. In the world today, the biological data in people that are used for identity verification has for a long time been fingerprints which are unique to every human. Read more

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Frost & Sullivan’s Yearly Sectoral Analysis on Automotive Sector in GCC

January 13, 2017 Vitali Bielski 0

MARKET OVERVIEW As GCC (Gulf Cooperation Council) economies end the second year of low oil prices, Frost & Sullivan analyzed the year 2016 for the automotive market and what can be expected in 2017. The year 2016 has certainly been tough for the automotive industry across virtually all countries in the GCC. New vehicle sales dropped by double-digit number, overstocking of parts by distributors, lack of clarity for the near future – these were the main causes for a volatile year. Despite that, one thing remains clear: automotive industry will only grow in the region. There are several reasons for it. The market is characterised by relatively low price elasticity in demand. Still underdeveloped public transportation network (with the exception of urban areas like Dubai and Riyadh) and lack of alternative fuels means that recent fuel price increases are not likely to have a significant impact on the industry in 2017. But as new vehicle sales are expected to remain moderately positive in the medium term, automotive companies will look for alternative profit sources. There are still several untapped areas, which offer significant profit margins but will require more effort in order to reap them. Such opportunities include used car sales, F&I (finance and insurance) as well as car accessories. Top Eight Predictions for the Automotive Industry in the GCC:

1)        Pre-VAT sales rush. After an unstable 2016 resulting in a drop in new vehicle sales (reaching 1.35-1.40 million units) across the GCC, the market is expected to stabilise and show a moderate growth in 2017 (up to 1.48-1.50 million units) due to several key factors. Firstly, the region’s macroeconomic situation is improving (non-oil Gross Domestic Product in the GCC is set to accelerate to 3% in 2017 from 1.8% in 2016 IMF, 2016) and new vehicle sales in 2017 are likely to be uplifted by a planned VAT (Value Added Tax) introduction by most GCC states in 2018. Although for majority of businesses it means additional complexity, VAT is ultimately paid by the customer. Customers previously planning a vehicle purchase in the next two years from now are likely to purchase vehicles before a 5% tax (most likely rate to be adopted) is levied in 2018. Read more

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UAE Logistics Industry Set for Good Growth

March 21, 2016 UAE Business 0

The UAE logistics industry is likely to grow by 4 percent in 2016. In addition, capacity expansion and infrastructure investment are likely to strengthen the competitiveness of logistics service providers (LSP). This is the conclusion drawn by Frost & Sullivan which has also noted that new technology solutions and transport infrastructure enhancement will be key to surviving disruption and transformational growth of the logistics industry in the UAE. Moreover, despite lower oil prices, the economic growth is expected to be driven by non-oil economic sectors and construction activities relating to capacity expansion. With the logistics market expected to grow at a compound annual growth rate (CAGR) of 5.7 percent between 2015 and 2020, the report notes that the key drivers for economic growth are the infrastructure investments associated with national logistics development plans, EXPO 2020, and trade with Asia and Sub-Saharan African countries. “Airport expansion and the GCC rail network will strengthen alternate mode for freight and cargo transportation and, despite lower oil prices, manufacturing industries will support demand for domestic logistics services,” the report states. The GCC logistics infrastructure is increasingly becoming important as the region has emerged as an important trans-shipment point for Europe-Asia trade and also as a multi-modal logistics hub to cater to the needs of increasing trade within the block. The GCC’s economic and logistics services integration is likely to derive the creation of integrated multi-modal transport system and the strengthening of multi-modal transportation corridors in the region. Read more