|By PR Newswire||
|March 27, 2014 07:17 AM EDT||
- Positive consumer outlook for grown diamonds, but challenging supply side factors restrain their market potential
SINGAPORE, March 27, 2014 /PRNewswire/ -- Demand for colorless diamonds in value and volume terms is higher than any other color of diamond in the Gems and Jewellery Industry. One of the key factors that prevented the adoption of grown diamonds in the Gems and Jewellery Industry over the last two decades was the inability to grow colorless diamonds. With the recent technological advancements, this has changed dramatically, and colorless diamonds which are identical to mined diamonds, are being grown in many countries.
New analysis from Frost & Sullivan, The Diamond Growing Greenhouses (http://www.industrialautomation.frost.com), based on a survey covering six large diamond buying countries, indicates high propensity of consumers to purchase grown diamonds. However, there are several unrecognized supply side factors that will affect the growth of grown-diamonds as a category. Taking these demand and supply side factors into account, Frost & Sullivan's latest research estimates the global sales revenue from grown polished diamonds by 2018.
Frost & Sullivan's survey in six countries indicates that changes in consumer preferences tending towards environmentally and socially responsible products is a key driver for the acceptance of grown diamonds by consumers. Along with this, education will play an important role in making the customer understand the similarities between grown and mined diamonds, and the differences between grown diamonds and diamond look-alikes.
While industry participants are enthusiastic about the increasing consumer awareness, they are equally circumspect about restraints such as the slow increase in capacity in the diamond production facilities that have come up in Russia, China, Malaysia, Singapore, India, the USA and the Netherlands.
High operational cost is a key factor hampering the grown diamond industry. "We are all still in the infancy of grown diamond, that there are many, many ways we find every day to reduce costs. We must think like manufacturers and get out of the R&D environment," said Mr. Michael McMahon, CEO of SCIO Diamond Technology Corporation, a leading grown-diamond producer.
Large capital required for raw material production and lack of knowledge in terms of equipment build, design, and application specific processes further affects production capacities. Mr. McMahon states that "technology is held close to the vest and it is not an easy science to apply. It takes years of development, then the ability for your technology to mass produce at the highest levels."
IIa Technologies Singapore, a leading grown-diamond producer, adds on this point that "even with all the body of knowledge that has been created over decades of work done on diamond growth, every time we face a challenge it's as though we are starting from scratch. The enormity of the challenge sometimes can take months to years to find a solution. And it doesn't stop there. Once you grow the diamond you have to get the application running, this increases the testing period from a research point of view and gestation period from a financial point of view."
High cost of equipment has also been identified as a major restraint to growth. "The cost of a chemical vapor deposition machine is definitely an entry barrier," noted Mr. Richard Garard, CEO of a leading grown diamond machine manufacturer, Microwave Enterprises. "Although some companies try to put together their own equipment, efficacy concerns remain."
Potential growth in the industry is dependent on thrusts from both the demand and supply side. From a consumer perspective, complete disclosure of origin and comparable certifications between grown diamonds and mined diamonds or diamond look-alikes are necessary to instill confidence in the consumer. At the same time, removal of descriptors such as 'synthetic' will help consumers understand the difference between grown diamonds and simulants.
From a supply perspective, a common voice from grown diamond producers will improve the image of their budding industry and facilitate their assimilation in a positive manner into the existing gems and jewellery industry.
The report may be downloaded through registering at this link: http://www.frost.com/sublib/display-market-insight.do?id=289565507
For media queries or if you are interested in more information on this study, please send an email to Jane Christensen, Corporate Communications, at [email protected], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Corporate Communications – Asia-Pacific
E: [email protected]
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Compa...
Apr. 17, 2015 09:45 PM EDT Reads: 2,066
VoxImplant has announced full WebRTC support in the newest versions of its Android SDK and iOS SDK. The updated SDKs, which enable audio and video calls on mobile devices, are now compatible with the WebRTC standard to allow any mobile app to communicate with WebRTC-enabled browsers, including Google Chrome, Mozilla Firefox, Opera, and, when available, Microsoft Spartan. The WebRTC-updated SDKs represent VoxImplant's continued leadership in simplifying the development of real-time communication...
Apr. 17, 2015 09:30 PM EDT Reads: 1,739
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applicatio...
Apr. 17, 2015 08:45 PM EDT Reads: 2,133
PubNub on Wednesday released an open source template to allow developers to add Skype-like video chat into their apps. The free template provides a fully functional video chat platform using WebRTC, PubNub and Google Authentication for a global, reliable collaboration solution. “While the WebRTC protocol has created huge excitement as a way to deliver video chat ubiquitously, there’s still a gap between the protocol itself and the ability to deploy a working, globally scaled, collaboration appl...
Apr. 17, 2015 07:45 PM EDT Reads: 7,217
SOASTA, the leader in performance analytics, today reported record growth of the CloudTest community, exceeding 30,000 registered users of the CloudTest platform in Q1 2015. SOASTA also announced widespread adoption of its Web and mobile testing solutions, with more than 1,600 customers completing more than 285,000 tests using CloudTest during the quarter. This rapid growth shows that DevOps-driven digital businesses are embracing a more continuous approach to testing, and CloudTest is meeting t...
Apr. 17, 2015 07:30 PM EDT Reads: 919
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
Apr. 17, 2015 07:15 PM EDT Reads: 753
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
Apr. 17, 2015 06:00 PM EDT Reads: 1,204
Chef and Canonical announced a partnership to integrate and distribute Chef with Ubuntu. Canonical is integrating the Chef automation platform with Canonical's Machine-As-A-Service (MAAS), enabling users to automate the provisioning, configuration and deployment of bare metal compute resources in the data center. Canonical is packaging Chef 12 server in upcoming distributions of its Ubuntu open source operating system and will provide commercial support for Chef within its user base.
Apr. 17, 2015 05:45 PM EDT Reads: 1,682
SYS-CON Events announced today that Optimal Design, an Internet of Things solution provider, will exhibit at SYS-CON's Internet of @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Optimal Design is an award winning product development firm offering industrial design and engineering services to the consumer, medical, and defense markets.
Apr. 17, 2015 05:30 PM EDT Reads: 1,551
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists will discuss how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations m...
Apr. 17, 2015 05:00 PM EDT Reads: 1,588
SYS-CON Events announced today that kintone has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. kintone promotes cloud-based workgroup productivity, transparency and profitability with a seamless collaboration space, build your own business applic...
Apr. 17, 2015 04:45 PM EDT Reads: 1,440
SYS-CON Events announced today that Stratoscale, the new data center operating system, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Based in Herzeliya, Israel, Stratoscale is redefining the data center, developing a hardware-agnostic, software platform hyper-converging compute, storage and networking across the rack or data center. The self-optimizing platform automatically distributes all physical...
Apr. 17, 2015 04:45 PM EDT Reads: 1,523
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
Apr. 17, 2015 04:00 PM EDT Reads: 1,255
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at 16th Cloud Expo, Haseeb Budhani, CEO and Co-founder of Soha, will share five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the frict...
Apr. 17, 2015 04:00 PM EDT Reads: 1,311
SYS-CON Events announced today that Soha will exhibit at SYS-CON's DevOps Summit New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Soha delivers enterprise-grade application security, on any device, as agile as the cloud. This turnkey, cloud-based service enables customers to solve secure application access and delivery challenges that traditional or virtualized network solutions cannot solve because they are too expensive, inflexible and operational...
Apr. 17, 2015 03:45 PM EDT Reads: 1,378