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Global banking industry value hit $134.1 trillion in 2016 and will see robust growth to 2021, says MarketLine

MarketLine

The global banking industry has experienced healthy growth in recent years, registering a compound annual growth rate (CAGR) of 4.7% between 2012 and 2016 to reach a value of $134.1 trillion, according to data from research firm MarketLine. The company’s latest report states that Asia-Pacific continued to be the largest region in terms of asset value, accounting for over 42% of the global total in 2016. Europe followed with over 38%, while the United States remained a large industry influence with 12%. China once again reigned supreme as the single… Read more

The Digital Age: A Hackers delight

MarketLine

Online storage is a huge leap forward in technology, allowing files to be accessed from anywhere without the need to send them via email. Files can be shared in a much simpler fashion and can be locked to ensure that any changes made are present in a single file as opposed to numerous versions of the file. This online system serves as a backup for companies and customers. A network of banking telecommunications (SWIFT) has been the target of numerous hacking and data leaks over recent years, serving to reduce… Read more

Global telecommunications services market to rebound and reach $1.3 trillion by 2021, says MarketLine

MarketLine

The global telecommunications services market has experienced decline in recent years, registering a negative compound annual growth rate (CAGR) of 3.4% between 2012 and 2016 to reach a value of $1.2 trillion, according to data from research firm MarketLine. The company’s latest report shows that the market declined significantly in Europe and also underwent contraction in Asia-Pacific (APAC). Low growth in the US was not sufficient to offset these reductions, causing an overall decline on a global scale. Nicholas Wyatt, Analyst for MarketLine, explains: “The global telecommunications market has declined… Read more

Global non-life insurance market will surpass $2.7 trillion by 2020, says MarketLine

MarketLine

The global non-life insurance market has experienced strong growth in recent years, registering a compound annual growth rate (CAGR) of 5.4% between 2011 and 2015 to reach a value of $2.03 trillion, according to data from research company MarketLine. The company’s report shows that market values have increased in all regions. Global growth, however, is primarily driven by healthy revenue increases in the US and China, both ranking in the top three markets globally. As the single largest market globally accounting for almost 40% of all revenue, the performance of… Read more

Marine freight industry to reach value of $210 billion by 2021 following poor 2015, says MarketLine

MarketLine

The global marine freight industry has struggled in recent years, suffering from a negative compound annual growth rate (CAGR) of 3.3% between 2012 and 2016 amid an increasing oversupply and a collapse of global demand, according to research firm MarketLine. The company’s latest report states that economic growth slowed across most of the world over this period, particularly in China, which has recently been the source of much consumer demand. This resulted in a fall in demand for transportation services in general, which forced prices down and led players to… Read more

Global steel market to reach $865.5 billion by 2020, says MarketLine

MarketLine

The global steel market reached a value of $753.4 billion in 2015, representing a negative compound annual growth rate (CAGR) of 11.2% from 2011, according to data from research company MarketLine. The company’s latest report states that China is the largest steel producer globally, commanding 49.6% of total market value and exporting more than the North American Free Trade Agreement (NAFTA) and European Union (EU) countries combined. As it accounts for almost half of the global market, changes in the Chinese steel supply and demand impact the global market situation… Read more

Global air freight market growth rate will rise through to 2021, says MarketLine

MarketLine

The global air freight sector has shown varied growth and declines between 2012 and 2016, registering an overall compound annual growth rate (CAGR) of 0.7% between 2012 and 2016 to reach a value of $101.3 billion, according to data from research company MarketLine. MarketLine’s latest report shows that the air freight sector’s growth is primarily driven by the Middle East and Asia-Pacific (APAC) as a result of increased manufacturing. With an under-developed internal market, opportunity for future growth is also possible, particularly in larger countries like China and India. Paul… Read more

Global hotels and motels industry saw strong growth in 2015, exceeding $719 billion, says MarketLine

MarketLine

The global hotels and motels industry grew to a value of just over $719.1 billion in 2015, with Europe emerging as the largest regional market, and accounting for more than 34% of global market value, according to research firm MarketLine. The company’s latest report shows that the US and the UK form the two largest national hotel and motel industry markets, valued at $189.6 billion and $59.8 billion, respectively. China follows as a close third, with a value of $59.6 billion. Mohammad Hamza Iqbal, Analyst for MarketLine, comments: “While the… Read more

Global paints and coatings market value surpassed $141 billion in 2015, says MarketLine

MarketLine

The global paints and coatings market grew to a value of $141.5 billion in 2015, with Asia-Pacific (APAC) emerging as the largest regional market, and accounting for more than 55% of global market value, according to research firm MarketLine. The company’s report shows that China and the US form the two largest paints and coatings markets, valued at $53.3 billion and $21.3 billion, respectively. China, however, is expected to continue growing at a fast pace, while growth in the US is forecast to be moderate. Mohammad Hamza Iqbal, Analyst for… Read more

Global healthcare expenditure to hit $9.17 trillion by 2020 as US market burgeons, says MarketLine

MarketLine

Global healthcare expenditure is set to grow from just over $7.2 trillion in 2015 to around $9.17 trillion by 2020, registering a compound annual growth rate (CAGR) of 5%, according to research firm MarketLine. The company’s report states that growth will primarily be driven by the US, which dominates the global market and accounts for nearly 50% of total expenditure. The country also has a good forecast CAGR of 4.6%, exceeding that of Europe and Asia-Pacific, indicating that its share of the healthcare market will rise by 2020. Kate Moody,… Read more

Asia will lead global electrical and electronics retail market to $1.47 trillion by 2020, says MarketLine

MarketLine

The global electrical and electronics retail market has experienced healthy growth in recent years, registering a compound annual growth rate (CAGR) of 5% between 2011 and 2015 to reach a value of almost $1.01 trillion, according to data from research company MarketLine. The trend of robust growth is set to continue, with MarketLine forecasting a market value of $1.47 trillion by 2020. MarketLine’s latest report shows that while market values have increased in all regions, global growth is primarily driven by Asia’s growth economies, as swelling middle classes begin to… Read more

As budget smartphones gain popularity, global mobile phone market growth will slow to 2020, says MarketLine

MarketLine

Although the widespread adoption of smartphones has created very strong growth in the global mobile phone market over the past five years, this trend is set to slow markedly in the run up to 2020, as competition in the budget smartphone segment increases, and growth in mature markets slows, according to research company Marketline. The company’s latest report states that three consecutive years of double-digit value growth between 2012 and 2014 pushed the global mobile phone market’s compound annual growth rate (CAGR) to an impressive 12.2% from 2011 to 2015,… Read more

Global sales for new cars to exceed 73 million units by 2020, as market momentum slows, says MarketLine

MarketLine

Sales of new cars globally will increase from around 62.5 million units in 2015 to over 73 million units by the end of 2020, representing a compound annual growth rate of 3.2%, according to data from research company MarketLine. The company’s latest report states that this steady rise can be attributed to the improving performance of the European market, which is offsetting slow growth in the large markets of Asia-Pacific (APAC) and the United States. Indeed, the recent slowdown in Brazil and Russia, as well as slower growth in China… Read more

Strong growth in Asia will drive $104 billion global skincare market to new heights by 2020, says MarketLine

MarketLine

The global skincare market has experienced healthy growth in recent years, registering a compound annual growth rate (CAGR) of 4.8% between 2011 and 2015 to reach a value of $104.1 billion, according to data from research company MarketLine. MarketLine’s report shows that market values have increased in all regions. Global growth, however, is primarily driven by Asia’s growth economies, as swelling middle classes begin to buy more expensive products, and those in lower income brackets start to purchase what they once deemed luxury items. Thanks to dynamic growth in countries… Read more

Global fish and seafood market will see consistent healthy growth through to 2020, says MarketLine

MarketLine

The global fish and seafood market has grown steadily in recent years, registering a compound annual growth rate (CAGR) of 3.8% between 2011 and 2015, according to data from research company MarketLine. MarketLine’s latest report shows that market values have increased in all regions. Global growth, however, is primarily driven by Asia-Pacific and South America, as the swelling middle classes begin to buy more expensive products through the organized retail channel. Despite this, the US is still the single largest market, and it is important for the global market that… Read more

China’s world-leading banks industry will see its robust growth decelerate to 2020, says MarketLine

MarketLine

The Chinese banks industry reached a total asset value of almost $32 trillion in 2015, accounting for 58% of all Asia-Pacific’s assets and making it the world’s single largest banks industry by a considerable margin, according to research firm MarketLine. Despite economic growth slowing in recent years, China’s banks industry has continued to record dynamic, double-digit year-on-year growth, and although deceleration is expected between 2016 and 2020, a strong compound annual growth rate of 9.9% is projected. MarketLine’s report shows that bank credit in China is a much smaller segment… Read more

L’Oréal poised for continued success in $43.6 billion make-up market, says MarketLine

MarketLine

The global make-up market reached a value of just over $43.6 billion in 2015, representing a compound annual growth rate of 4.4% from 2011, with the US eclipsing the whole of Europe and commanding 27% of total market revenues, according to research company MarketLine. MarketLine’s latest report finds that French cosmetics powerhouse L’Oréal retains a healthy lead over its nearest competitor, Estée Lauder Companies, thanks largely to its status as market leader in the mature markets of North America and Europe. Nicholas Wyatt, Analyst for MarketLine, explains: “L’Oréal’s portfolio of… Read more

Global energy consumption market value surpassed $9.1 trillion in 2015, says MarketLine

MarketLine

The global energy consumption sector grew to a value of just over $9.1 trillion in 2015, with Asia-Pacific (APAC) emerging as the largest regional market, and accounting for more than 50% of the global market’s value, according to MarketLine. The company’s report shows that China and the US form the two largest national energy consumption markets, valued at $2.7 trillion and $1.2 trillion, respectively. China, however, is expected to continue growing at a fast pace, while growth in the more mature US market is forecast to be moderate. Mohammad Hamza… Read more

Global government spending reached $28 trillion in 2015 and will hit $35 trillion by 2020, says MarketLine

MarketLine

Global government spending will grow from $28 trillion in 2015 to hit $35 trillion in 2020, registering a Compound Annual Growth Rate (CAGR) of 2.5%, says research firm MarketLine. The company’s report states that growth will primarily be driven by the Asia-Pacific (APAC) region and the US, with CAGRs of 6.5% and 5%, respectively, during the forecast period. Kate Moody, Analyst for MarketLine, says: “Strong growth has been felt in some of the key markets in this sector, primarily the US, China, and Germany. APAC will be the primary driver… Read more

China continues to dominate the global agricultural products market, says MarketLine

MarketLine

The global agricultural products market reached a value of just over $2.2 trillion in 2015, with Asia-Pacific accounting for well over half of the world’s agricultural production, with 64.2% of the total market in 2015, says research firm MarketLine. China continues to be the dominant country in the agricultural products market, despite shrinking overall in value terms in 2015. In China, the market was worth approximately $830 billion in 2015 and is expected to grow by 11.2% through to 2020. MarketLine’s latest report states that the production of cereal crops… Read more

Global utilities industry value hit $4.2 trillion in 2015, says MarketLine

MarketLine

The global utilities industry grew at a Compound Annual Growth Rate (CAGR) of 4% during the years 2011-2015, propelling it to a value of $4.2 trillion, according to the latest Utilities Global Industry Guide published by research firm MarketLine. This figure is the total revenue that electricity, gas, and water utility companies generate from sales of their products to end-users, ranging from households to heavy industry. MarketLine’s latest report states that the global growth rate is moderate, but masks a great deal of variation from region to region. Asia-Pacific accounts… Read more