Sunday, January 30, 2022

Automotive Brake Pads Industry Procurement Intelligence, Drivers, Restraints and Challenges Analysis Report till 2027

Brake pads are one of the key elements of an automotive braking system. These pads are situated inside the caliper and are the part of the system that clamps down on the rotor. Brake pads are categorized into four major segments.

  • Semi-metallic brake pads: These are 40-50% metal and very durable. It may not function well in extreme, low temperatures. These brake pads are less expensive and easier on the rotors than ceramic brake pads. Semi-metallic brake pads are majorly used on racecars.

  • Ceramic brake pads: These are the most expensive brake pads. It produces less noise compared to other materials. Ceramic brake pads last longer than semi-metallic brake pads.

  • Low-metallic, non-asbestos organic (NAO): These brake pads are noisy and known to let off a lot of brake dust. The copper or steel that is used in these pads helps with heat transfer.

  • Non-asbestos organic: These brake pads are majorly made from organic materials including fiber, glass, rubber, and Kevlar. Non-asbestos organic pads can wear faster and produce a lot of brake dust.

Read report summary or request a free sample copy of the report “Automotive Brake Pads Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Demand Outlook

The global automotive brake pads market was valued at USD 12 billion in 2020 and it is expected to grow at a CAGR of 7-8% from 2020 to 2027. With the growing automotive market in developing countries, the demand for brake pads is expected to grow during the forecast period. APAC is leading the global automotive brake pads market with more than 35% revenue share followed by North America and Europe. Based on material type, ceramic brake pads are estimated to hold the largest share in the global market over the forecast period due to their high stability and property to work in fluctuating temperatures. The demand for ceramic brake pads majorly comes from high-performance vehicle manufacturers as it produces less dust and minimum noise.

Cost Drivers

Raw material costs are the major cost driver of automotive brake pad manufacturing. Automotive brake pads are made from a blend of 10-20 types of raw materials. Some of the key raw materials include phenol resin, steel fiber, copper fiber, iron powder, tin powder, aramid pulp, synthetic graphite, etc. The cost of raw material accounted for more than 60% of the overall cost of production. Many manufacturers have shifted their production base to APAC due to efficient supply of raw material and low production cost.

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Key Players:

  • ACDelco
  • Akebono Brake Industry
  • ATE. Bosch Auto Parts
  • Brakes India Pvt.Ltd.
  • G.U.D Holdings
  • Hindustan Composites Limited
  • Makino Auto Industries Pvt.Ltd
  • MAT Holdings
  • Nisshinbo Group Company
  • Ranbro
  • Brakes India Limited

The global automotive brake pads industry features a highly fragmented landscape with leading players contributing less than 30% of the market share. Industry leaders are strengthening their presence through multiple mergers and acquisitions. 

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About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Monday, January 24, 2022

Polyvinyl acetate Industry Procurement Intelligence, Growth Insights, COVID-19 Impact 2020-2027

The global polyvinyl acetate market was valued at ~USD 5 billion in 2020 and it is expected to grow at a CAGR of 5% from 2021 to 2027 due to increasing demand for adhesive from key industries such as construction, automotive, and furniture. The rising demand for paint and coatings from APAC and Latin American markets is also expected to fuel the growth of the global PVA industry. APAC is the largest geographic segment in the global PVA market with more than 45% market share followed by Europe and North America with 25% and 15% market share respectively. Increasing construction spending coupled with growing industrial development in emerging markets of China and India is anticipated to drive the regional market. APAC PVA market is also expected to witness the highest growth rate during the forecast period.

Read report summary or request a free sample copy of the report “Polyvinyl acetate Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2021 – 2027”

Polyvinyl acetate (PVA) is a colorless, nontoxic, synthetic resin prepared by the polymerization of vinyl acetate. It has good resistance to UV and oxidation. PVA is extensively used in the packaging industry as adhesives. PVA emulsions are inexpensive and possess good adhesion to many porous substrates, but are not effective on non-porous surfaces. They are one of the main ingredients of water-based glues, commonly referred to as wood glue, carpenter's glue, Elmer's glue (USA), or white glue.

PVA is used as an inexpensive, low-toxic, and no odor adhesive to bond and seal high-energy surfaces such as paper, corrugated cartons, cotton, and wood, etc. It is often preferred over other types of adhesives due to its low cost, good stability to light, and yellowing resistance capability. PVA is also used as a plasticizer and thickener for paints, textile finishes, plastics, cement, and chewing gum. It is relatively (~50%) cheaper than other acrylic resins and is therefore often added to acrylic latex paints to reduce the production cost. However, the best exterior water-based paints are 100% acrylic due to elasticity and other factors and polyvinyl acetate is generally viewed as inappropriate for exterior uses due to its water sensitivity.

Cost Drivers

Raw materials and feedstocks are the key cost driver of polyvinyl acetate production. The raw materials are majorly categorized into two segments; solvents and initiators. Solvents include methanol, ethyl acetate, and benzene. Initiators include benzoyl peroxide, azobisisobutyronitrile (AIBN), and lauroyl peroxide. Both solvent and initiators account for more than 40% of the overall cost of production followed by machinery costs, equipment costs, labor costs, and maintenance costs. The price of raw materials are somewhat stable for the last few years. Hence, reducing costs from other components like machinery, equipment and labor would give PVA producers a better profit margin.

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The global polyvinyl acetate Industry has been negatively impacted since the beginning of the COVID-19 pandemic. Major PVA consumers like India and China restrict the large-scale industrial operations for a while, which affects the overall demand of PVA across packaging segments. Moreover, stringent government and health safety regulations regarding the handling of PVA coupled with fluctuating prices of raw materials are considered as the key growth restraints of the global polyvinyl acetate market.

Some of the key suppliers of polyvinyl acetate are:

  • Henkel
  • Vinavil
  • H.B. Fuller
  • Dow
  • Arkema
  • Celanese
  • 3M
  • Hexion
  • ITW Polymers

The PVA market features a highly consolidated landscape with the top ten players contributing more than 70% of the market share. Leading suppliers are strengthening their presence through multiple mergers and acquisitions.

Check out the featured Add-on Services offered with Polyvinyl acetate Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Sunday, January 23, 2022

Phosphate Industry Procurement Intelligence 2020-2027 | Trend and Opportunities

The global phosphate market was valued at USD 72 billion in 2020 and it is expected to grow at a CAGR of 2% from 2020 to 2027 majorly due to the rising demand for ammonium phosphate, from the manufacturing market. APAC is leading the global phosphate market with more than 40% share followed by Europe and North America. As agriculture is a core constituent of the economy in APAC countries like India China, these countries are responsible for generating high demand for phosphate and related products for the last five years. For instance, India is one of the leading countries, with more than 25% of world imports for natural calcium phosphates and natural aluminum calcium phosphates. In terms of applications, the phosphate fertilizer segment is expected to have the highest growth rate in APAC countries due to increase in agricultural spending and growing demand.

Read report summary or request a free sample copy of the report “Phosphate Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Phosphate is one of the most common elements mined primarily from phosphate rock. It is a chemical derivative of phosphoric acid and the majority of its global production is absorbed by fertilizer manufacturing industries in the booming agricultural sector. One metric ton of phosphate rock can produce more than 100 metric tons of phosphate granules. Phosphates can be segmented into the following categories:

  • Orthophosphates: These are found naturally in the environment and in water, but are also artificially added to fertilizers. In swimming pools, orthophosphates are the most prevalent of all types of phosphates.
  • Condensed phosphates: This type of phosphates contain salts, metals or minerals like calcium.
  • Organophosphates: These are organic phosphates (esters of phosphoric acid). Organophosphates are a key ingredient in more than 50% of all pesticides.
  • Inorganic phosphates: Inorganic phosphates are majorly deals with water treatment bsuniesses.

Cost Drivers

Phosphate rock is the most important feedstock of phosphate production. It is the major cost driver of overall production cost. The cost of phosphate rock accounted for more than 50% of the one-unit phosphate production. In the last two years, the price of phosphate rock fluctuate significantly majorly due to supply-demand disruption during Covid-19. The price of phosphate rock has witnessed a gradual decrease over the last ten years. However, it is expected to increase moderately during the forecast period.

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The covid-19 pandemic proves to be a major challenge in global phosphate production in 2020. As the fertilizer industry is the leading consumer of phosphate, any change in demand would directly affect phosphate production. Since the beginning of the pandemic, the fertilizer industry utilization rate has dropped by about 30-40% YoY. Furthermore, China, the leading producer of phosphate, were forced to reduce di-ammonium phosphate prices as India and Pakistan, the major importers of Chinese phosphate fertilizer, continue to reduce imports, due to their high inventories.

Some of the key phosphate suppliers are:

  • The Mosaic Company
  • Nutrien Ltd
  • EuroChem Group
  • Innophos
  • PhosAgro Group of Companies
  • Ma’aden
  • Incitec Pivot limited
  • Fertoz Agriculture Pty Ltd
  • Koch Fertilizer, LLC.
  • Mississippi Phosphates Corporation
  • Jordan Phosphate Mines

The global phosphate industry features a moderately fragmented landscape with industry leaders contributing less than 20% of the phosphate industry share. Leading suppliers are strengthening their presence through multiple mergers and acquisitions.

Check out the featured Add-on Services offered with Phosphate Industry Market Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Banking and Financial Services Industry Procurement Intelligence, Growth Insights, COVID-19 Impact 2020-2027

The global banking and financial services market was valued at ~USD 20 trillion in 2020 and it is expected to grow at a CAGR of 6% from 2020 to 2027. The growth is majorly attributed due to the companies rearranging their operations and recovering from the COVID-19 pandemic, which had earlier led to restrictive containment measures including social distancing, remote working, and the closure of commercial activities. Banks and financial service providers are adopting digitization to modernize their commercial lending businesses owing to increasing competition among banks and growing demand for the simplified and quick commercial lending process.

Read report summary or request a free sample copy of the report “Banking and Financial Services Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

A banking and financial services market include a group or network of institutions, responsible for operating a payment system, providing loans, taking deposits, and helping clients with investments. Banking and financial services can be categorized into ten major categories:

  • Banking: Checking accounts, savings accounts, debit/credit cards, loans, etc.
  • Professional advisory: Investment due diligence, M&A advisory, valuation, real-estate consulting, risk consulting, taxation consulting.
  • Wealth management: Managing and investing customers’ wealth across various financial instruments including debt, equity, insurance products, real estate, etc.
  • Mutual funds: Managing investments on mutual funds.
  • Insurance: Provide personal (automotive, home, medical) and business insurance.
  • Stock market: Provide investment solutions for customers in the stock market.
  • Treasury/debt management: Managing investments into government and private organization bonds (debt).
  • Tax/audit consulting: Determining tax liability, transfer pricing analysis, and structuring.
  • Capital restructuring: The restructuring of capital structure (debt and equity) to bolster profitability.
  • Portfolio management: Analyze and optimize investments for clients across a wide range of assets (debt, equity, insurance, real estate, etc.).

Cost Drivers

The cost of banking and financial services can be categorized into two segments; facility cost and service cost. Facility costs include site management and maintenance cost, in-house machinery cost, etc. However, the major cost driver of the banking sector is the service cost. Service cost is segmented into employee costs, technology costs, training & development costs, employee benefits, taxes, and legal expenses. Among these, employee costs hold more than 60% share in the overall cost of banking and financial services followed by technology and employee.

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There are multiple challenges present in the global banking and financial services industry such as intense competition, keeping up with regulatory changes, customer retention policies, security measures, etc. Banking and financial service providers are forced to continuously modify their strategies to overcome these challenges. It creases an unstable environment within the banking sector.

Some of the leading banking and financial service providers are:

  • HSBC Holdings
  • Bank of China
  • JP Morgan Chase & Co.
  • BNP Paribas
  • China construction Bank Corp.
  • Mitsubishi UFJ Financial Group
  • Bank of America
  • Industrial and Commercial Bank of China
  • Credit Agricole Group

The global banking and financial services industry feature a moderately fragmented landscape with leading players contributing less than 45% of the market share. Industry leaders are strengthening their presence through multiple mergers and acquisitions. 

Check out the featured Add-on Services offered with Banking and Financial Services Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Automotive Sensors Industry Procurement Intelligence 2020-2027 Trend and Opportunities

The global automotive sensor market was valued at ~USD 25-30 billion in 2020 and it is expected to grow at a CAGR of 7-10% from 2020 to 2027. The increasing adoption of hybrid electric vehicles has increased the demand for various automotive sensors such as current sensors, temperature sensors, cell voltage sensors, and other components for battery management systems. APAC is the largest geographic segment in the global automotive sensor market with more than 50% revenue share in 2020. The growth in APAC is driven by the growing adoption of electric vehicles in China, South Korea, and Japan. Favorable government policies regarding the use of electric vehicles have propelled market potential for automotive sensor makers in the region. For instance, in January 2021, South Korea approved an electric vehicle subsidy budget of USD891.7 million for 2021. EV cars with a price range of less than USD53,000 will be fully subsidized.

Read report summary or request a free sample copy of the report “Automotive Sensors Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

An automotive sensor is a device that monitors the condition and keeps track of almost everything happening in and outside a vehicle, allowing the onboard computers to make decisions. These decisions help to improve engine performance, reduce emissions, improve safety, etc. Following are the most commonly used sensors across different vehicles:

  • Mass airflow sensor
  • Engine speed sensor
  • Oxygen sensor
  • Spark knock sensor
  • Coolant sensor
  • Manifold absolute pressure (MAF) sensor
  • Fuel temperature sensor
  • Voltage sensor
  • Camshaft position sensor
  • Throttle position sensor
  • Vehicle speed sensor

Raw material cost is the major cost driver of automotive sensor manufacturing. It accounted for more than one-third of the overall cost of production. Thermoplastics like PET (Polyethylene terephthalate), PBT (Polybutylene terephthalate), ceramics are widely used raw materials for automotive sensors. Other major costs include facility costs, machinery costs, labor costs, etc.

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The COVID-19 pandemics negatively affected the global automotive sensor industry. It resulted in disruptions in the export of Chinese parts, large-scale manufacturing interruptions across Europe, and closure of assembly plants in the U.S. More than 2.5 million passenger cars were removed from the production schedule due to large-scale industrial lockdowns across North America and Europe. Reduced vehicle production directly translates to a significant drop in demand for automotive sensors. Moreover, the lack of aftermarket sensors is considered as one of the key constraints in the developing market during the forecast period.

Leading suppliers of automotive sensors are:

  • Analog Devices, Inc.
  • Denso Corporation
  • Robert Bosch
  • Sensata Technologies, Inc.
  • Asahi Kasei Corporation
  • Freescale Semiconducto
  • Maxim Integrated
  • Infineon Technologies AG
  •  Measurement Specialties
  • Tekscan, Inc.
  • Texas Instruments Incorporated 
  • GE Measurement and Control Solutions

The global automotive sensor industry features a moderately consolidated landscape with leading players contributing around 55% of the market share. Industry leaders are strengthening their presence through multiple mergers and acquisitions. 

Check out the featured Add-on Services offered with Automotive Sensors Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends

Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Follow Us: LinkedIn | Twitter
 






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Advanced Driver Assistance Systems Industry Procurement Intelligence, Growth Insights, COVID-19 Impact 2020-2027

The global advanced driver assistance systems market was valued at USD 17.6 billion in 2020. The market is projected to grow at a CAGR of 12.3% from 2020 to 2027. Geographically, the European market is the largest market for advanced driver assistance systems as of 2020. Demand for semi-autonomous vehicles or the requirement of driving assistance features for the new versions of EV is generating additional demand for ADAS in the market.

The COVID-19 pandemic has resulted in a decline in the advanced driver assistance systems industry globally. Several OEMs have paused or reduced manufacturing vehicles. This has directly affected the tier 1 suppliers and providers of advanced driver assistance systems globally. However, the automotive market is currently recuperating from the effects of the pandemic. While the market is yet to reach normalcy, industry experts expect that by Q2, 2022, the demand for automobiles, especially ones with semi-autonomous vehicle features and safety features like advanced driver assistance systems will increase.

Read report summary or request a free sample copy of the report “Advanced Driver Assistance Systems Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

The majority of the automotive accidents occurring currently are due to human error or are ones whose impact could have been avoided with better and cautious driving. To reduce and prevent such instances, automotive companies are implementing Advanced Driver Assistance Systems in their vehicles. Advanced Driver Assistance Systems, commonly known as ADAS, provide five safety-essential features. These include pedestrian detection and avoidance, lane departure warning and correction, traffic sign recognition, automatic emergency braking, and blind-spot detection. ADAS is one of the primary features that lay down the foundations for an autonomous vehicle. ADAS works on three primary types of sensors. They are radar/LIDAR, cameras, and ultrasound. The objective of an ADAS is to provide a 360-degree detection capacity of the vehicle, including the blind spots to minimize risks while driving.

The advanced driver assistance systems industry is still innovating and undergoing technical changes. With changing requirements from end-users, OEMs are laying down varying requirements which the suppliers of advanced driver assistance systems have to cater to. This makes it difficult for suppliers to have market-level cost drivers. However, manufacturing processes and procurement strategies help reduce the cost of manufacturing and the cost of operations. Also, depending upon the vehicle type, margins may be adjusted, leaving scope for better profit margins. But there are other market drivers like shifting preference to semi-autonomous vehicles and focus on vehicle safety in addition to government mandates which makes OEMs inculcate a certain safety standard in their vehicles to achieve the required NCAP rating for selling their vehicles in a certain geography. These factors are helping drive the market in terms of the adoption of advanced driver assistance systems.

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One of the major challenges for implementing advanced driver assistance systems in developing countries is the lack of infrastructure. For example, the lack of well-organized road and lane markings with the unavailability of GPS for the proper functioning of ADAS makes it difficult for the safety systems to function effectively. To add to this, the pandemic has resulted in a decrease in the average spending of consumers. Hence, the additional cost required to incorporate an advanced driver assistance system in vehicles for regions where lack of infrastructure makes it infeasible for the ADAS to function efficiently is repelling for the consumers. This challenge is external to the supplier dynamics and is hard to adjust to make ramifications to overcome this challenge internally.

The key suppliers for advanced driver assistance systems market are:

  • Robert Bosch
  • Continental
  • ZF Friedrichshafen
  • Aptiv Denso
  • Magna International
  • Valeo Mitsubishi Electric
  • Nvidia
  • Panasonic
  • Texas Instruments
  • Vector
  • Hitachi Automotive Systems
  • Hyundai Modis
  • Delphi Automotive

The industry is fragmented in nature with the presence of several local as well as global suppliers and the ever-evolving nature of the market makes it lucrative for the suppliers to enter the market.. 

Check out the featured Add-on Services offered with Advanced Driver Assistance Systems Industry Procurement Intelligence Report.

About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
  • Market Intelligence involving - market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
  • Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.

Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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Sunday, January 16, 2022

Auditing Services Industry Procurement Intelligence Report 2027: Key Factors And Emerging Opportunities

Auditing is an official examination and verification of a business’s financial records. Auditing services include official inspection and verification of the credibility of financial reports. The main objective of auditing is to confirm whether the company’s financial statements are accurate and are following regulatory guidelines. Auditing also gives investors, creditors, and other stakeholders reasonable assurance that they can rely on a company and its integrity. Audits can be conducted by either a business’s management as an internal control process or by the government, in case they notice suspicious financial activity. Auditing services can be categorized into three major types:

  • Internal audits: It is performed by a qualified auditor or accountant working within the organization. Internal audits can be conducted weekly, monthly, or annual basis based on company requirements.

  • External audits: In this audit, financial statements are made by an independent, third-party professional. External audits are extremely beneficial as it is more unbiased and reliable than internal audits.

  • IRS audits: Internal Revenue Service (IRS) audits are government audits conducted to ensure that financial data has been reported in compliance with tax laws. These audits are mostly conducted randomly. However, more often than not IRS selects businesses based on suspicious activity, such as unusual deductions or uncommon sources of income.

Read report summary or request a free sample copy of the report “Auditing Services Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”

Demand Outlook

The global auditing services market is valued at ~USD 220 billion in 2020 and it is expected to grow at a CAGR of 4% from 2020 to 2027 majorly due to Increasing stringent government regulations regarding disclosure and reporting of financial details. The external audit segment has a higher market share than the internal audit segment. The external audit segment accounted for more than 60% of the overall market. However, the internal audit segment is expected to witness the highest growth rate during the forecast period. North America has the largest market share of ~40% in the global market followed by APAC and Europe.

Cost Drivers

The salary of professionals conducting the auditing is the major cost driver of the auditing services. This auditor rate is very high in North America and Europe. APAC's average auditor rate is around 50% lower than North America and Europe. However, the salary growth rate in APAC is considerably higher than in other regions.

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Some of the key suppliers of auditing services are:

  • Ernst & Young
  • Protiviti
  • RSM US
  • Deloitte
  • PwC
  • KPMG
  • Grant Thornton International Ltd.
  • Moore Stephens International Limited

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About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
 
Our services include (not limited to):
 
Market Intelligence involving - market size and forecast, growth factors, and driving trends
Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
 
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
Contact Information:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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ESG Initiatives In The Bakery Product Industry

Embedding the value of environmental, social and governance (ESG) in the  bakery product industry  has become a vital cog in augmenting reve...