OPEC’s Ability to Rebalance Oil Market Still in Doubt

The Organization of the Petroleum Exporting Countries (OPEC) was founded in 1960 and now has 13 members as of 2017, but their ability to control the volatility of oil prices has never quite died down. On Tuesday, oil prices rose, but the market remained fragile with concerns coming from increasing U.S. crude output and decreasing demand for oil owing to preference of alternative energy that are environment friendly.

Demand for Crude Continues to Fall
Monthly reports on supply and demand from OPEC and this week’s U.S. data on crude production highlights that global crude inventories continue to fall and unless the wavering demand growth does not increment, the pattern will continue. The U.S. gasoline stocks are strong and the trend of electric vehicles is growing. In addition to that, U.S. output has grown about 10% since mid-2016 and is closing in on the output of Saudi Arabia and Russia. These are some of the factors resulting in reduced demand from a highly profitable market, hitting its lowest mark in last three years. Drop in commodity imports and weakening manufacturing activity in China is another restraint impacting the demand for crude oil.

Real Challenge to Drive Stockpiles Down Persists
According to the chief market strategist at futures brokerage AxiTrader, Greg McKenna, the biggest challenge for OPEC is to reduce the crude oil stockpiles to a level from where it sustainably rises. However, the falling demand this year is eating into the refining margins. In the physical market, barrels of North Sea crude were available at their lowest cost since 2015. Any efforts by OPEC to rebalance the market can only see the day of light if the oversupply is curtailed, which has not been the case for over two years.

Increased IT Spending Strengthens Business Process as a Service Model

San Francisco, California, May 09, 2017: Business process as a service (BPaaS) offers organizations, BPO services through cloud. As companies today are inclined towards adopting service oriented approach for their BPO needs, cloud services have gained immense popularity. TMR Research in its latest report, studies the global business process as a service market. The report is titled “Business Process as a Service (BPaaS) Market: Global Industry Analysis and Opportunity Assessment 2016-2026.” According to the report, various companies are striving to achieve a competitive edge and stay ahead of their competitors by concentrating on their core processes rather than using their valuable resources on carrying out business processing outsourcing services.

The growing need for business process agility improvement at a minimal cost is driving the growth of the business process as a service market. Since the BPaaS model comes with suitable payment options and service providers are offering pay per use options, the adoption rate is increasing across the globe. The globalization of markets and increased spending in IT are also helping the market to grow. In addition to this, growing popularity of cloud services and high use of BPaaS in small and medium size businesses (SMBs) will also ensure a healthy growth of the global business process as a service market during the forecast period.

However, a lack of understanding the integration of BPaaS solutions with different business processes and insufficient knowledge about the potential of cloud technology is hampering the demand for business process as a service. Another challenge faced by players in this market is the difficulty in determining the most suitable and efficient business process service plan to fulfill the needs of a specific organizational function and then its deployment to ensure smooth functioning in the specific work scenario.

On a positive side however, the growing acceptance of technologies such as social media platforms, business analytics, process automations software, and cloud computing is bound to fuel the growth of the BPaaS market. Moreover, the growing realization regarding the benefits of adopting business process as a service, such as high operational efficiency and reduced cost are expected to create growth opportunities for the market in the coming years, says a TMR Research analyst. Adoption of BPaaS enables a technological environment on a unified centralized platform by re-structuring the system background.

The report is a comprehensive analysis of key drivers and restraints impacting the global business process as a service market. It also studies key players operating in the market such as: Cognizant, CSC, ADP, Ebuilder, IBM, Accenture, Fujitsu Limited, Wipro, Oracle, SAP, Northgatearinso, WNS, Genpact, Verecloud, Nuevora, Adaptive Planning, Capgemini, and Xerox ACS.

Rising Occupational Accidents Up Need for Industrial Safety Footwear

San Francisco, California, May 08, 2017: A recent report by TMR Research presents a detailed analytical overview of the global market for safety footwear. The report, titled “Industrial Safety Footwear Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” presents a qualitative as well as quantitative view of the present growth dynamics of the market and forecasts its growth potential over the period between 2017 and 2025.

The market is chiefly driven due to stringent regulations regarding employee and workplace safety across industries such as pharmaceuticals, oil and gas, construction, food and beverages, chemicals, and manufacturing, where employees are persistently exposed to various hazards that can have debilitating effect on their health and wellness. While developed economies across Europe and North America has several regulations in place in this regard, developing economies across regions such as Asia Pacific and Latin America are also instigating industrial safety regulations at a rapid pace.

Active contribution of government bodies in ensuring that safety regulations are followed in industrial spaces and rising awareness among employees about their rights are also spurring the global demand for industrial safety footwear. These factors are expected to continue to drive the market in the next few years as well.

From a geographical viewpoint, the market for industrial safety footwear has been covered in the report for regional markets such as North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Of these, the Europe market presently holds the position of the leading contributor of revenue to the global market, serving the maximum demand for safety footwear for a number of industries. Asia Pacific also holds a commanding position in the global industrial safety footwear market, thanks to its thriving industrial sector and established industries such as consumer electronics and automotive.

Asia Pacific is expected to emerge as one of the most promising investment destinations for companies in the global industrial safety footwear market owing to the stiffening workplace safety norms across the industrial sector in emerging economies such as India and China. North America is a mature market owing to stringent workplace safety norms and showcases the presence of some of the most prominent vendors in the field. Rising demand for industrial safety footwear from the U.S. and Canada will ensure healthy growth of the North America industrial safety footwear market in the near future.

The vendor landscape of the global industrial safety footwear market is intensely competitive and features the presence of a large number of domestic and international vendors. Some of the leading companies operating in the market are Rock Fall, Uvex Group, Dunlop Boots, V.F. Corporation, Honeywell International, Hewats Edinburgh, Bata Industrials, Liberty Group, JAL Group, Simon Corporation, and COFRA.

Road Safety Awareness Campaigns Receive Government Funding

San Francisco, California, May 08, 2017 : The global road safety market is prognosticated to do well in the coming years as governments around the world are on their toes to enforce stringent laws for public security and road safety. In a report penned by TMR Research, titled “Road Safety Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” the burgeoning rise of the transportation industry is expected to optimistically affect growth.

The deployment of road safety solutions and systems could be extensively promoted due to a towering count of travelers and inflating road congestion, especially on highways and flyovers. This is anticipated to bode well for encouraging growth in the world road safety market. Upgradation of existing roads and swift urbanization in less developed nations making way for the development of new infrastructure are prophesied to bring in some reliable profits for players operating in the world road safety market.

However, the demand in the international road safety market could be impeded by inadequate government funding in developing countries and a massive portion of national budget reserved for road maintenance. This could create an imbalance in the implementation of modern road safety technologies due to budget insufficiency. Moreover, the widespread adoption of road safety systems could be inhibited by factors such as lack of awareness.

Nevertheless, there are ample of opportunities predicted to count on in the international road safety market. Participants can expect to attract revenue from the tremendous expansion of high-priority transportation infrastructure facilities and upcoming projects. Most companies functioning in the international road safety market are envisaged to develop products that focus on maximizing public safety on roads and high reliability. Companies could also consider expanding their product portfolio with various technologies for the purpose of curbing overall costs and improving efficiency. All of these factors are forecasted to augur well for the international road safety market.

Asia Pacific is envisioned to overtake all other geographies in the worldwide road safety market on the back of favorable government initiatives and exceptional economic advancement. The Philippines, China, India, and Australia could take to in-depth assessment of road safety projects, bettered agency capability, and mature strategic planning in order to sustain their growth in the Asia Pacific road safety market. Howbeit, North America is projected to lead the worldwide road safety market while riding on the existence of scores of solution providers and avant-garde technologies.

Some of the crucial players that could be profiled in the global road safety market report are Redflex, Motorola Solutions, Inc., Jenoptik, Kapsch AG, American Traffic Solutions, and Swarco AG.