Category: Commercialization

When we think about next generation technology and innovation many of us think about advances in computing, medical devices, miniaturization of electronics, and more, but what is truly powering that innovation? While the power and electric grid has changed over time, many energy experts believe that the grid was not designed for today’s requirements and will demand next-generation grid technologies. This disconnect is attributed to fundamental changes in both supply-side and demand-side technologies. The advent of new energy systems and sources has shifted power generation away from large synchronous generators to smaller units and variable energy resources while the number of distributed energy resources and use of electronic converters in buildings, industrial equipment, and consumer devices is increasing. In addition to these fundamental changes in power supply and demand, increasing risks posed by extreme weather events, cyber threats, and physical attacks present new challenges with system security, reliability, and resilience.

The Smart Grid is one piece of grid modernization efforts, according to reports, smart grid technology is growing steadily with the global market expected to triple in size to approximately $61 billion U.S. dollars between 2017 and 2023. MarketsandMarkets covers various segments of the growing and evolving market for smart grid technologies ranging from smart transformers and meter management to grid networking, communication, and software. We’ve pulled together a few figures from some of our favorite databases that may be helpful as you explore the markets for technologies enabling grid transformation and modernization efforts.

In terms of distribution technologies, transformers are commonplace, but the introduction of smart monitoring systems will play a crucial role in this evolving landscape – the global smart transformers market was valued at $1.25 billion in 2016 and is projected to reach $2.43 billion by 2022, at a compound annual growth rate (CAGR) of 10.54%, from 2017 to 2022. While the digitalization of utilities is expected to boost the demand for smart transformers, the high equipment cost is seen as a major restraint. The high adoption of broadband power line communication devices in the indoor networking application area is one of the major driving factors for the power line communication market, which was valued at $5.5 billion in 2017 and is forecast to grown to $9.5 billion by 2023, at a CAGR of 9.5%. Furthermore, growing government policies and legislative mandates for smart meters, the need for grid reliability, and the need for accurate utility bill generation are driving the global meter data management system market which is projected to be a $428 million market by 2023.

While these advancements in the deployment and reliability of smart grid systems may help answer power supply and demand issues at a grid-scale, they also give rise to concerns of security. These concerns touch every part of the system ranging from customer privacy to infrastructure security and vulnerability. BCC Research explores these concerns and helps to size the market for smart grid security which was valued at $4.45 billion in 2016 and is forecast to reach $11.06 billion by 2025, growing at a CAGR of 10.65% from 2017 to 2025. The overarching goals of smart gird security solutions explored by BCC Research and other groups include: system vulnerability to physical attack or cyber attack, operating resiliency against security disruptions, secure access and data privacy for smart grid information, optimized network reliability, computing, and operational support for grid communications, and establishment of a framework for compliance.

Fittingly, November is Critical Infrastructure Security and Resilience (CISR) Month, the Department of Energy Office of Electricity (OE) plays a crucial role in the development of enabling technologies and initiatives and provides an extensive look at its activities with smart grid development on its website. Looking past November, 2020 offers many opportunities to learn more about smart grid and critical infrastructure technologies – the Innovative Smart Grid Technologies (ISGT 2020) is sponsored by the IEEE Power & Energy Society (PES), and will be held February 17-20, 2020 at the Grand Hyatt Washington, Washington D.C.

The National Association of Corrosion Engineers (NACE) was established in 1943 by eleven corrosion engineers from the pipeline industry, and now serves nearly 36,000 members in over 130 countries. In its comprehensive 2016 “International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT)“ study, NACE estimates the global cost of corrosion to be $2.5 trillion, equivalent to roughly 3.4 percent of the global Gross Domestic Product (GDP). The study found that implementing corrosion prevention best practices could result in global savings of between 15-35% of the cost of damage, or between $375-875 billion.

As noted in the IMPACT study, corrosion presents a costly challenge across many industry verticals, including: Aerospace & Defense, Automotive, Energy, Marine, and more. MarketsandMarkets reports that the global anti-corrosion coating market was estimated to be worth $24.84 Billion in 2017 and is projected to reach $31.73 Billion by 2022, at a compound annual growth rate (CAGR) of 5.0% from 2017 to 2022. BCC Research provides a comparative market sizing analysis, estimating that the global market for anti-corrosion coatings should reach $31.0 Billion by 2022 from $23.3 billion in 2017 at a CAGR of 5.9%, from 2017 to 2022. From a regional perspective, analysts forecast that the Asia-Pacific market for anti-corrosion coatings is expected to grow the most quickly, from $13.9 billion in 2017 to $18.8 billion in 2022 at a CAGR of 6.2%, whereas the North American market for anti-corrosion coatings is expected to grow from $3.1 billion in 2017 to $4.2 billion in 2022 at a CAGR of 5.8% during the same period. Frost & Sullivan also sheds light on the growth of this market in the Asia-Pacific region, and credits the infrastructure boom and rising urbanization as drivers in this space. Furthermore, end-user industries such as water and wastewater, manufacturing and commercial architecture are growing quickly in this region.

Growth within the global market is broadly attributed to rising losses due to corrosion coupled with the growth of end-use industries such as power generation and automotive & transportation. The power generation segment is anticipated to be the fastest-growing end-use industry within the global anti-corrosion coating market due to the rise in demand for harnessing renewable energy sources and the corrosive nature of industrial equipment. Given the potential costs of corrosion, investments are being made in corrosion monitoring and mitigation. MarketsandMarkets reports that the global corrosion monitoring market is expected to reach $297.8 Million by 2021, at a CAGR of 9.1% between 2016 and 2021 with the oil & gas segment making up the majority of this market.

In terms of firms working in this space, AkzoNobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems Ltd. (US), BASF SE (Germany), The Sherwin-Williams Company (US), Ashland Inc. (US), Hempel A/S (Denmark), Jotun (Norway), RPM International Inc. (US), and Kansai Paint Co., Ltd. (Japan) are all seen as major players in the development and production of anti-corrosion coatings and mitigation methods.

Looking for more? Registration is open for Corrosion 2020 taking place March 15-19, 2020.

Posted on October 23, 2019 by Eliza Gough

The effective management and control of infectious diseases presents a critical challenge for healthcare workers and officials across the globe. Fortunately, advances in the development and adoption of point-of-care testing (POCT) solutions may provide solutions to this challenge by quickly identify infectious diseases and providing actionable information to improve disease management. What sets these tests apart is that they may be utilized in especially in resource-limited settings using POC molecular diagnostics tools, including portable device and assays. These tool kits may be used by healthcare professionals to detect and diagnose diseases in human samples such as serum, blood, throat swab, and stool.

There are two main types of POCT, immunoassay-based tests and molecular tests. The immunoassay tests detect analytes extracted from a potentially infected patient, and then assessed for microbial antigens and host antibodies. Molecular POCT are polymerase chain reaction (PCR)-based tests which have a higher sensitivity and specificity compared to immunoassay tests or rapid antigen detection tests (RADT).  MarketsandMarkets reports that the global point of care molecular diagnostics market was valued at $632.5 million in 2017 and is projected to reach $1,440.2 million in 2023, at a compound annual growth rate (CAGR) of 14.7%. However, the molecular diagnostics segment only makes up 20% of the infectious disease POCT market in the United States. Despite this small percentage, North America is expected to account for the largest share of the global POC molecular diagnostics market. This is attributed to the growing prevalence of infectious diseases, increasing number of CLIA product approvals, and rising government initiatives – however, Asia Pacific is expected to grow at highest CAGR.

Frost & Sullivan provides extensive coverage on these markets and reports that near-patient testing may provide more accurate results than when patient samples have to be transported to laboratories, mistakes carried out during sample handling prior to testing can lead to a 32-75% margin of error, which can cost anywhere from $200 to $2000 per incident. Furthermore, the molecular POC tests have clinically proven better sensitivity and specificity (>95% on an average). The following are identified as major growth areas in this market:

• New multiplexing ecosystems able to test for multiple infectious diseases
• Smartphone-based POCT
• Biochip Array Technology (BAT)
• Lab-in-a-Drop
• Host Biomarkers
• Paper-based Assays (PBA)
• Portable Molecular Diagnostics (MDx)

Frost & Sullivan recently published its analysis, Global Medical Technologies Industry Predictions, 2019 covering 20 growth opportunities forecasting the longer-term growth opportunity to be $173.06 billion by 2024, with a CAGR of 22.0%. This analysis includes smartphone-based solutions, as they present a $2.11 billion opportunity by 2020, which is attributed to enabling technologies such as AI, machine learning, AR/VR, Internet of Things (IoT), and big data analytics, coupled with existing smartphone tools like cameras and external sensors, which are seen as transforming smartphones into powerful and cost-effective diagnostic tools.

The key players in the global Point of care molecular diagnostics market are, Roche Diagnostics (Switzerland), Biomerieux (France), Danaher (US), Abbott Laboratories (US), Quidel (US) and Meridian Bioscience (US). Tin terms of growth strategies, these players focus on organic strategies such as product launches and approvals to sustain their growth in the POC molecular diagnostics market. For example, Abbott has been partnering with the U.S. Department of Defense (DoD) and researchers from the Transforming Research and Clinical Knowledge in Traumatic Brain Injury (TRACK-TBI) Network to take POCT beyond infection diseases to evaluate the effectiveness of Abbott’s developing POCT designed to help clinicians assess brain injuries within minutes, using only a few drops of a patient’s blood.

Posted on October 8, 2019 by Eliza Gough

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

The tagline, “plastics make it possible,” has been commonplace for years. However, recently, the environmental impact of these products has begun to garner negative attention. Despite being commonly defined as one material, there are many different types of plastics, each with different properties and uses. These are typically divided into four main categories: thermoplastics, thermosets, engineering plastics, and plastic fibers. Despite the ubiquity of plastics in our lives today, only about 2% of plastics like bottles are recycled into the same or similar-quality applications.  Given the gaps in recycling, and the potential impact of these trends, research is being carried out in a variety of related areas, including Designing Plastics for a Circular Carbon Economy and Reimagining Plastic Degradation for Upcycling. Continue reading “Market Snapshot: Growth Trends in Plastics Development and Recycling”

Exoskeletons might first make you think about insects, or sci-fi, but practically speaking, they offer a great deal of potential for added protection, off-loading, extended endurance and increased mobility. While most exoskeletons contain rigid elements that can restrict natural movement, non-rigid approaches exist, but must still be strapped to the body. In most cases, the weight of the exoskeleton is borne by the wearer through the body interfaces, therefore, these systems have the potential to increase the risk for injury unless some key questions are addressed. In nature there are many examples of creatures with both a hard protective exoskeletons as well as softer, hair-based and flexible exoskeletons. Some animals have both an endoskeleton and an exoskeleton, but in all cases, there is an interface between the “harder” protective portion and the “softer” fleshy portion of the animal. The design of these types of creatures offer biomimetic and bio-inspired approaches toward an effective human-exoskeleton interface. An effective interface is one that considers natural human movement, minimizes the forces exerted on or carried by the body and results in negligible long-term injury to the wearer.

According to BCC Research, the global market for bionic devices, which includes exoskeletons, limbs and appendages (e.g., hands, feet, fingers), hearts, ears, and eyes, reached $2.8 billion and $3.2 billion in 2015 and 2016 respectively. The market should reach $6.4 billion by 2021, growing at a compound annual growth rate (CAGR) of 15.2% from 2016 to 2021; and $12.1 billion by 2026 at a CAGR of 13.6% from 2021 to 2026. In terms of these segments, the bionics market for sensory devices reached $1.7 billion in 2016. The market should reach $4.1 billion by 2021, growing at a CAGR of 18.9% from 2016 to 2021; and $8.4 billion by 2026 at a CAGR of 15.1% from 2021 to 2026. The bionics market for limbs and exoskeleton reached $297 million in 2016. The market should reach $550 million by 2021, growing at a CAGR of 13.1% from 2016 to 2021; and $1.1 billion by 2026 at a CAGR of 15.3% from 2021 to 2026. While some bionic devices are commercially available at present, the real market for bionics is long-term. The report therefore will focus mainly on identifying bionic technologies that are under development and the conditions that will determine which ones reach the market and the quantities that could potentially be sold. Given the long-term nature of the market, the report has a 10-year time frame (i.e., 2016 to 2026).

MarketsandMarketsreports that the exoskeleton market is expected to grow from $299.8 million in 2017 to $2,810.5 million by 2023, at a CAGR of 45.2% between 2017 and 2023. The market is mainly driven by the factors such as the growing demand from healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology. The healthcare vertical is already a major consumer of mobile exoskeletons, and because of its added advantages, these exoskeletons can also find applications in several new verticals, such as defense, sports and fitness, and search and rescue. Regionally, the Americas accounted for the largest share of the overall exoskeleton market in 2016. The Americas, being the early adopter of exoskeletons for all major verticals such as healthcare, industrial, and defense and a home to some well-known players in the exoskeleton market, has the maximum demand for exoskeletons.

In terms of the medical exoskeleton market, MarketsandMarkets reports that it is projected to reach USD 571.6 million by 2023 from USD 85.7 million in 2017, at a CAGR of 37.4% during the forecast period. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023. MnM attributes this growth to factors such as an increasing number of people with physical disabilities and subsequent growth in the demand for effective rehabilitation approaches and increasing insurance coverage for medical exoskeletons in several countries. The key players in the exoskeleton market are Bionik Laboratories (Canada), B-Temia (Canada), CYBERDYNE (Japan), Ekso Bionics (US), Focal Meditech (Netherlands), DIH Technologies (China), Hyundai Motor (South Korea), Lockheed Martin (US), Meditouch (Israel), Ottobock (Germany), ReWalk Robotics (Israel), Exhauss (France), Fourier Intelligence (China), GOGOA Mobility Robots (Spain), P&S Mechanics (South Korea), suitX (US), ATOUN (Japan), Daiya Industry Co. (Japan), Honda Motor (Japan), MITSUBISHI HEAVY INDUSTRIES (Japan), PARKER HANNIFIN (US), Rex Bionics (New Zealand), Gobio Robot (France), Myomo (US), and Wandercraft (France). All these companies have robust R&D facilities and extensive sales offices and distribution channels. The products of these companies can be used across verticals for various applications.

Frost & Sullivan notes that one potential end-use area for exoskeletons is in factory environments, which may be characterized by increased worker absenteeism arising from post-related injuries resulting in Musculoskeletal Disorders (MSD). This in turn impacts the factory floor, in terms of increased costs arising from unsuitable factory environment, poor productivity and low-quality finished goods. The exoskeleton technology has evolved over the years from an external cover to potential industrial applications given that it has the ability to empower individuals, improve ergonomics and provide safety to factory workers.

Given the potential applicability of exoskeletons to a variety of verticals ranging from industry to defense, numerous Federal agencies have shown interest in this area. For example, the U.S. Department of Energy (DOE), Office of Environmental Management (EM) hosted a technical interchange meeting on industrial exoskeletons in 2017 as part of an interagency collaboration among the National Institute of Standards and Technology (NIST), the National Institute for Occupational Safety and Health (NIOSH), and the U.S. Army Natick Soldier Research, Development and Engineering Center (NSRDEC), and DoD went on to host one in 2018.

Posted on September 25, 2018 by Eliza Gough