FMI Projects Global Vibration Control Systems Market Estimated to Surpass USD 9.01 Billion Mark by 2032, Driving 6.2% CAGR Growth

The global vibration control systems market is on track for significant expansion, with an anticipated annual growth rate of 6.2% Year-on-Year (Y-o-Y), aiming to reach a substantial valuation of USD 9.01 billion by 2032.

Despite facing challenges such as supply chain disruptions, particularly affecting sectors like automotive, aerospace, and healthcare equipment manufacturing from 2020 to 2022, the market has exhibited resilience. This resilience highlights the pivotal role of vibration control systems in ensuring operational stability, enhancing product quality, and promoting workforce well-being across diverse industries. The market’s adaptability and capacity to thrive amidst evolving landscapes underscore its critical importance in sustaining the efficiency and reliability of various industrial processes.

Amidst this dynamic landscape, the remarkable resilience of the vibration control systems market positions it as a crucial component, safeguarding operational stability, product quality, and workforce well-being as industries navigate challenges and adapt to change.

Browse Full Report Here

Vibration Control System Market Expands Driven by Diverse Industries and Technological Advancements:

The adoption of vibration control techniques is notably gaining traction in the electronics, electrical, and industrial goods manufacturing sectors, contributing to the positive trajectory of the vibration control systems market. This trend is further augmented by the increasing recognition of the significance of safeguarding mechanical structures, along with growing interest in deploying active vibration control across various industrial domains. Advancements in the automobile and aerospace industries also play a pivotal role in propelling the vibration control system market forward.

The upward trend is also attributed to a rise in per capita utility spending and increased government investments in vital end-use industries. Notably, progress observed across various end-use sectors is anticipated to encourage manufacturers to diversify their product offerings, thus augmenting the expansion of the vibration control system market throughout the forecast period.

An FMI analyst commented, “The increasing adoption of vibration control systems across end-use industries such as oil & gas, transportation, and utilities is expected to be a major driver for market growth in the foreseeable future.”

Key Insights:

  • The integration of Industrial Internet of Things (IIoT) is set to unlock new possibilities in the market.
  • Robust growth in the transportation and utility sectors is propelling the vibration control system market in the United States.
  • Russia is poised to offer lucrative opportunities for market expansion.
  • China is anticipated to maintain dominance in the Asia Pacific vibration control systems market.

Competitive Landscape:

The vibration control system market boasts a diverse landscape, with major players including HUTCHINSON, DynaTronic Corporation Ltd., Cooper Standard, GERB, Technical Manufacturing Corporation, and others as profiled in the comprehensive report. Leading industry participants prioritize product innovation and development to cater to evolving consumer needs. Collaborations and partnerships are common strategies employed by these organizations to secure a competitive edge in the market.

Vibration Control Systems Market by Segmentation:

By System:

  • Vibration Controls
    • Isolating Pads
    • Isolators (Metal, Rubber)
    • Couplings (Spool, Shear, Bolt, Bush)
    • Anti-Vib Cylinders (Male, Female)
  • Motion Controls
    • Springs (Air, Coil)
    • Hangers
    • Washers & Brushes
    • Mounts (Hydraulic, Pneumatic)
  • Automation Control
    • Absorber (Miniature, Industrial, Heavy Industrial)
    • Dampers (Hydraulic, Pneumatic, Damping Pads)

By End User:

  • Mining & Quarrying
  • Oil & Gas
  • Utilities
  • Transportation
  • Food Manufacturing
  • Bev. & Tobacco
  • Textile Mills
  • Bi-Products
  • Chemical Manufacturing
  • Electrical Equipment
  • Machinery Manufacturing

By Sales Type:

  • O.E.M
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI States Global Hammer Mill Market Revenue Projected to Surpass USD 5,677.3 Million by 2033, Driving a Steady Growth of 5.3% CAGR

According to Future Market Insights (FMI), the global hammer mill market is poised to reach a projected size of USD 3,389.5 million in 2023. Over the ensuing decade, from 2023 to 2033, the global sales of hammer mills are anticipated to exhibit a notable compound annual growth rate (CAGR) of 5.3%. By the year 2033, it is projected that the total market value will reach an impressive USD 5,677.3 million.

The burgeoning demand for processed food products and the rapid expansion of critical end-use sectors, notably agriculture and food & beverages, are pivotal factors propelling the global market’s growth trajectory.

Hammer mills find indispensable utility in various sectors, contributing to the reduction in the size of materials such as grains, minerals, biomass, and more. They are particularly sought after in the agricultural, mining, pharmaceutical, and food processing industries, where their versatile capabilities are highly valued.

Hammer mills represent versatile equipment capable of effectively handling a wide array of materials and tasks. Their applications encompass crushing, pulverizing, and grinding a diverse range of substances, spanning from grains and minerals to biomass and beyond.

Available in various sizes, hammer mills find utility in numerous industries, contributing significantly to the enhancement of production efficiency by achieving uniform material size reduction.

The burgeoning agriculture and food & beverage sectors are experiencing a notable surge in the adoption of hammer mills, thereby propelling the global market forward. This trend is driven by the increasing demand for processed foods, a consequence of population expansion and economic growth.

To meet this escalating demand, hammer mill manufacturers are strategically investing in the development of efficient and scalable production facilities. These investments encompass optimizing production processes, ensuring stringent quality control measures, and augmenting production capacity to meet the diverse requirements of customers.

In addition to domestic markets, prominent companies are actively exploring opportunities for market expansion in high-potential regions such as India and Japan. They are further demonstrating their commitment to sustainability by introducing innovative, energy-efficient solutions and fostering partnerships with reputable distributors.

Key Takeaways of Global Hammer Mill Market Study:

  • The global hammer mill industry is projected to exceed a valuation of USD 5,677.3 million by 2033.
  • By mill type, lump breaker segment is expected to hold a market share of around 5% in 2023.
  • Based on application, coarse milling segment is likely to dominate the global market with a share of around 64% during the assessment period.
  • Tier-1 Players account for around 25% to 30% of the overall market.
  • Europe currently holds around 37% share of the global hammer mill industry.
  • East Asia holds about 4% share of the global market.
  • Hammer mill demand in the United States market is projected to rise at a steady pace through 2033.

“Growing popularity of solar-based hammer mills that harness the power of solar energy is expected to revolutionize the global hammer mill industry during the projection period. These mills offer a game-changing solution for processing grains, maize, rice, and other crops into essential commodities like flour and animal feed. Not only do they provide a sustainable alternative to diesel-powered mills, which rely on costly fuel imports and contribute to environmental pollution, but they also pave the way for affordable and accessible entrepreneurship in rural communities.” says a lead Future Market Analyst.

Who is Winning?

Hosokawa Micron Powder System, Andritz, Buhler Group, Schenck Process Holding Ltd GmbH, Hosokawa Micron Corp, L.B. Bohle Maschinen & Verfahren GmbH, and others are few of the leading hammer mill manufacturers profiled in the report.

These key companies are focusing on introducing cost-effective and automated solutions to meet changing end user requirements. They are also utilizing strategies such as agreements, partnerships, mergers, acquisitions, and collaborations to strengthen their market presence. For instance,

  • In November 2022, Buhler launched a new hammer mill series with improved features that offer significant energy savings and flexibility while maintaining product quality & safety standard.

Global Hammer Mill Market by Category:

By Mill Type:

  • Full Circle Screen
  • Gravity Discharge
  • Horizontal In-Feed
  • Lump Breaker
  • Pneumatic Discharge

By Capacity:

  • Upto 1 Ton/hr.
  • 1–3 Ton/hr.
  • 3–6 Ton/hr
  • 6-10 Ton/hr
  • 10–50 Units/hr.
  • 50–150 Units/hr.
  • 150–300 Units/hr.
  • Above 300 Units/hr.

By Application:

  • Fine Milling
  • Ultra Fine Milling
  • Coarse Milling

By End Use:

  • Agriculture
  • Food & Beverages
  • Metals & Mining
  • Energy and Power
  • Scrap Recycling
  • Chemicals
  • Pharmaceuticals

By Country:

  • Canada
  • Brazil
  • Mexico
  • Rest of Latin America
  • Germany
  • Italy
  • France
  • United Kingdom
  • Spain
  • BENELUX
  • Russia
  • Rest of Europe
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia and New Zealand
  • Rest of South Asia & Pacific
  • GCC Countries
  • Türkiye
  • Northern Africa
  • South Africa Rest of Middle East and Africa

Access Report Details for More In-Depth Information:

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Projection States Global Gas Circuit Breaker Market Aims to Surpass USD 1,018.5 Million Mark by 2033, Growing at 4.2% CAGR

The global gas circuit breaker market demonstrated a substantial valuation of USD 647 million in 2022, laying the groundwork for an impressive trajectory. With a projected Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2033, the market is poised to achieve a noteworthy milestone, surpassing USD 1,018.5 million by 2033.

Approaching the pivotal year of 2023, significant growth is anticipated, with projected revenues reaching approximately USD 675 million. This robust valuation not only underscores the resilience of the gas circuit breaker market but also emphasizes its critical role in meeting the evolving energy demands of a dynamic world.

Browse Full report Here

Global Gas Circuit Breaker Market Dynamics: Shaping Future Growth

The growth trajectory of the global gas circuit breaker market is influenced by a multitude of factors. Gas circuit breakers have emerged as a viable and efficient alternative to conventional methods like oil circuit breakers and fuses. This heightened efficacy has led to an increased adoption of gas circuit breakers for high-voltage applications. The surge in industrialization and urbanization has amplified the necessity for new transmission grids, further driving the demand for gas circuit breakers. Moreover, the proliferation of renewable energy projects and the utilization of medium voltage circuit breakers have contributed to this market’s expansion.

Governmental investment in the power transmission and distribution sector, coupled with rapid growth within these domains, has catalyzed market growth. The requirement to safeguard circuits from irregular current flows in regions with inadequate infrastructure has bolstered the need for circuit protection through breakers. Emerging trends such as the focus on reducing interrupters, the development of hybrid gas breakers to mitigate the environmental impact of SF6, and the pursuit of low-maintenance-based circuit breakers have also significantly contributed to the market’s upward trajectory.

Challenges Navigating Growth:

Despite its upward trajectory, the global gas circuit breaker market faces several challenges. The increasing penetration of alternative technologies like vacuum circuit breakers poses competition. Stringent regulations concerning the use of sodium hexafluoride gas, a significant contributor to the greenhouse effect, have impacted market dynamics. Reluctance in adopting new equipment and electrification projects, coupled with the high costs associated with SF6 gas circuit breakers, has added complexity to the market landscape. Furthermore, the absence of standardized testing for ultra-high voltage gas circuit breakers and a low replacement rate are posing obstacles to the market’s expansion.

Global Gas Circuit Breaker Market: Competitive Analysis

The research study on the global gas circuit breaker market includes a detailed competitive assessment that includes key players such as ABB Group, General Electric, Toshiba Corporation, Hyosung Corporation, Siemens AG, Schneider Electric SE, Hitachi Ltd., Kirloskar Electric Company Ltd., CG Power and Industrial Solutions Limited, Fuji Electric Co., Ltd., HICO America, Nissin Electric Co., Ltd., Elimsan Switchgear Equipment & Electromechanical Industry And Trade Inc., New Northeast Electric Group High Voltage Switchgear Co., Ltd., Mitsubishi Electric Corporation, Koncar-Electronics and Informatics Inc., Hyundai Heavy Industries Co., Ltd., Siyuan Electric Co., Ltd., Stelmec Limited and ALSTOM SA.

Key Segments Covered in the Gas Circuit Breaker Market Analysis:

By Voltage Rating:

  • Up to 72.5 kV
  • 72.5-145kV
  • 145kV-252kV
  • 252-550kV
  • 550-800kV
  • above 800kV

By Configuration:

  • Single Interrupter
  • Two Interrupter
  • Four Interrupter

By Technology:

  • Dead Tank Type
  • Live Tank Type

By End Use:

  • Residential
  • Commercial
  • Industrial

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excl. Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Projection Affirms Construction Anchors Market Share Anticipated to Surge Past USD 24,838.79 Million by 2034, Growing at a 6.0% CAGR

The global construction anchor market is anticipated to exhibit robust growth, expanding from USD 13,869.85 million in 2024 to a projected USD 24,838.79 million by 2034, representing a compound annual growth rate (CAGR) of 6.0% over the ensuing decade. This significant market expansion underscores the anticipated upsurge in demand for construction anchors.

Market players are upgrading their product lines with a structured strategy of raising their investments in research and development activities. The main focus of research and development efforts is anticipated to be the development of new products that meet market requirements.

The chemical anchor holds the majority of the share in the market. It is considered a key solution for applications in the construction sector. Several construction anchor companies are increasing the range of chemical anchors with enhanced capabilities and features. Growing demand for construction anchors with more strength in extreme situations is guiding the efforts of leading players. Additionally, the increasing requirement for chemical anchors that can effectively fulfill the dynamic loading requirements is anticipated to fuel market growth.

Leading vendors are also introducing a green line of construction anchors, which are eco-friendly. Additionally, companies are focusing on enhancing the product resistance in their newly launched products.

“Industry players are introducing a green portfolio of construction anchors to promote sustainable construction practices. From the expansion point of view, key players are projected to find significant growth in emerging economies as investments in construction activities in these countries are rising,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Construction Anchor Market Report:

  • The market value of construction anchor increased from USD 10,087.70 million in 2019 to USD 13,153.01 million in 2023.
  • By product type, the chemical segment is anticipated to acquire a market share of 91.15% in 2024.
  • Demand for construction anchors is projected to be significant in building and construction applications. In 2024, the application segment is likely to account for 41.83% market share.
  • In the United States and Germany, the construction anchor market is expected to rise at CAGRs of 5.1% and 6.8%, separately, over the forecast period.
  • In China and India, the sales of construction anchors are anticipated to surge at CAGRs of 6.8% and 7%, respectively, through 2034.
  • The Australia construction anchor industry is predicted to increase at a CAGR of 6.8% from 2024 to 2034.

Competitive Landscape:

The market space is dynamic and competitive. To increase the market share, leading companies are developing new anchor to address certain requirements like high-temperature resistance, underwater fastening, etc. Additionally, players are presenting an extensive range of anchors to serve several multiple applications and materials. Furthermore, companies are constantly upgrading their existing products and creating innovative solutions to beat the market competition.

Key players are focusing on developing strong partnerships with retailers and distributors to expand their customer base. Moreover, leading companies are increasing their investments toward brand reputation, reliability, and quality via sponsorships and marketing campaigns. Industry leaders are also collaborating with complementary businesses to expand their expertise or offer integrated solutions. Additionally, they are also acquiring companies that have distinct technologies to enhance their market position.

Notable Construction Anchor Companies:

  • Stanley Black & Decker, Inc
  • Hilti Corporation
  • Simpson Manufacturing Co., Inc
  • EJOT Holding GmbH & Co. KG
  • Misumi Corporation
  • Ancon Limited
  • Fosroc Chemicals (India) Private Limited
  • Unika Co. Ltd
  • UNIQUE FASTENERS P. LTD
  • Yuyao City Xintai Hardware Co. Ltd
  • FIXDEX Fastening Technology
  • EMC Fasteners and Tools
  • Ningbo Londex Industrial Co. Ltd
  • HASM Co. Ltd
  • Others

Construction Anchor Market by Category:

By Product Type:

  • Metal
  • Wedge anchors
  • Undercut anchors
  • Concrete screws
  • Drop-In Anchor
  • Sleeve and Nail Anchors
  • Cast-In Anchors
  • Chemical
  • Injectable adhesive anchors
  • Capsule adhesive anchors
  • Light Duty Anchors
    • (Nylon) Plugs
    • Drywall Plugs
    • Drywall Screws
    • Insulation Anchors
    • Metal Screws

By Application:

  • Building Construction
  • Civil Engineering
  • Construction Installation
  • DIY

By Sales Channel:

  • Direct Sales
  • Distributor Sales
  • Retail Sales
  • Home Centers
  • Online Sales

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

Access Report Details for More In-Depth Information:

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Study States Global Absorbent Glass Mat (AGM) Battery Market Revenue to Reach USD 18 Billion by 2032, With a 4.8% CAGR Growth

Global absorbent glass mat (AGM) battery market is estimated to garner USD 18 Billion while exhibiting a 4.8% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure USD 11.2 Billion in 2022.

The number of research and development by the leading manufacturer and the production of maintenance-free and non-spillage batteries with loner life is the primary factor driving the growth of the absorbent glass mat (AGM) battery market. Over the course of the forecast period, the demand for renewable energy projects is anticipated to grow across the board.

The UPS segment is likely to offer remunerative opportunities for the global absorbent glass mat(AGM) battery market. Several emerging economies are making significant developments in their automotive sector, thereby, providing lucrative opportunities to players in the market.

 Key Takeaways:

  • By application, the UPS segment is expected to record a 3.8% CAGR by 2032
  • By voltage, the 2-4volts segment to expand at a 3.2% growth rate during the forecast period
  • The U.S market to garner USD 6 Billion and record a 4.5% CAGR from 2022-2032
  • Market in China to procure USD 1 Billion, expanding at a 4.1% growth rate during the assessment period

“Rising penetration of renewable energy across grids has boosted the need for efficient and flexible energy storage solutions is expected to fuel the demand of absorbent glass mat (AGM) battery market over the forecast period,” says an FMI analyst. 

Competitive Landscape:

Eminent players of the global absorbent glass mat (AGM) battery market include Clarios, Power Sonic Corporation, Exide Technologies, C&D Technologies, East Penn Manufacturing Company among others. Recent key developments among players include:

  • In November 2021- Clarios entered a strategic collaboration with China Lithium Battery Technology Company (CALB) to develop low-voltage lithium-ion battery systems to address the growing electrical needs of global automaker. The partnership will develop and manufacture low-voltage lithium-ion battery systems with lithium iron phosphate (LFP) cells to support the needs of electric vehicles — combining CALB’s lithium-ion cell expertise with Clarios’ battery system and vehicle integration capabilities.
  • In May 2021 – Exide Technologies, updated its Exide Premium range with a modern new black design with new recycled components for reduced environmental impact. The change will lead to savings of 2,700 tons of CO2, 8 million litres of water and 1.2 million litres of crude oil in Exide’s manufacturing each year.

Key Segments Covered In The Absorbent Glass Mat(AGM) Battery Industry Survey:

Absorbent Glass Mat (AGM) Battery Market by Type:

  • Stationary Absorbent Glass Mat (AGM) Battery
  • Motive Absorbent Glass Mat (AGM) Battery

Absorbent Glass Mat (AGM) Battery Market by Voltage:

  • 2-4 Volts Absorbent Glass Mat (AGM) Battery
  • 6-8 volts Absorbent Glass Mat (AGM) Battery
  • 12 volts and above Absorbent Glass Mat (AGM) Battery

Absorbent Glass Mat (AGM) Battery Market by End User:

  • Absorbent Glass Mat (AGM) Battery OEM
  • Absorbent Glass Mat (AGM) Battery Aftermarket

Absorbent Glass Mat (AGM) Battery Market by Application:

  • Absorbent Glass Mat (AGM) Battery for Automotive
    • Motor Vehicle
    • Motor Cycle
    • Others
  • Absorbent Glass Mat (AGM) Battery for UPS
  • Absorbent Glass Mat (AGM) Battery for Industrial Applications
  • Absorbent Glass Mat (AGM) Battery for Energy Storage
  • Absorbent Glass Mat (AGM) Battery for Other Applications

Absorbent Glass Mat (AGM) Battery Market by Region:

  • North America Absorbent Glass Mat (AGM) Battery Market
  • Europe Absorbent Glass Mat (AGM) Battery Market
  • Asia-Pacific Absorbent Glass Mat (AGM) Battery Market
  • Middle East & Africa Absorbent Glass Mat (AGM) Battery Market
  • Latin America Absorbent Glass Mat (AGM) Battery Market

Access Report Details for More In-Depth Information:

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Medium Voltage Transformer Market Gears Up for USD 19,080.56 Million by 2033, Driven by 4.5% CAGR

The medium voltage transformer market is poised for significant expansion, with forecasts indicating a rise from USD 12,286.50 million in 2023 to an impressive valuation of USD 19,080.56 million by 2033. This anticipated growth is driven by a robust Compound Annual Growth Rate (CAGR) of 4.50% from 2023 to 2033.

The evolving landscape of the medium voltage transformer market presents lucrative opportunities for industry participants and stakeholders alike. Navigating this transformative market requires profound insights and up-to-date information. Key factors fueling this growth include the global transition towards renewable energy sources, advancements in smart grid technology, and a strong commitment to environmentally sustainable, energy-efficient solutions. Additionally, the substantial contributions of emerging economies, flourishing industrial sectors, and ongoing technological advancements are expected to shape this remarkable growth trajectory.

Browse Full Report Here

As per the key findings of the report, the global medium voltage transformer market is expected to witness considerable growth in upcoming years, due to the steady increase in adoption of smart grids, increasing urbanization, rapid growth in power generation, and increasing government investments for electrification.

Increasing Government Investments for Electrification Expected to Drive the Market Growth

Government of various countries have planned to increase their funding for various projects related to electrification, such as railway electrification, transmission and distribution, and urbanization, among others. For instance, governments in countries such as Brazil and Mexico are planning to invest in electrification. These projects support the state electric boards (SEBs) in order to provide better power supply to rural and urban areas of the region or country.

In addition, the government of India is also planning to make huge investments in numerous projects, such as Revised Accelerated Power Development and Reform Program and Rajiv Gandhi Grameen Vidyutikaran Yojna, among others, for establishing new power grids so as to provide electricity in the rural areas of the country.

Also, the government is focusing on installing new transmission lines and transformers in order to create a national grid, which will interconnect all the five regions of India — Northern, Southern, Eastern, Western, and North Eastern. This national grid is known as ‘Transmission Super Highways’. Thus, growing infrastructure and electrification in various regions is set to increase the demand for medium voltage transformers.

Increasing Urbanization and Industrialization Estimated to Create High Sales Opportunity

Rural electrification projects, new power plants, as well as transmission and distribution facilities are some of the new developments that are being introduced in various countries in Middle East & Africa to increase urbanization and industrialization.

Electrification projects are growing at a faster rate in countries, such as the United Arab Emirates, Qatar, Turkey, etc. Additionally, for the proper execution of these projects, medium voltage transformers are required for almost all applications. Thus, growing urbanization and industrialization will drive the medium voltage transformer market growth in the MEA region.

Medium Voltage Transformer Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global medium voltage transformer market. Few examples of key players in themedium voltage transformer market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co., Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpan International USA Ltd., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, Hammond Power Solutions Inc., Kirloskar Electric Company, and MGM Transformer Company, Amran Inc., among others.

Key Segments of Medium Voltage Transformer Industry Survey:

By Rating:

  • 1,200 kVA Medium Voltage Transformers
  • 1,500 kVA Medium Voltage Transformers
  • 2,000 kVA Medium Voltage Transformers
  • 2,500 kVA Medium Voltage Transformers

By Product:

  • Dry Medium Voltage Transformers
  • Oil-immersed Medium Voltage Transformers
  • VPI Medium Voltage Transformers

By Configuration:

  • Single-phase Medium Voltage Transformers
  • Three-phase Medium Voltage Transformers

By Application:

  • Building Establishments
  • Residential
  • Commercial
  • Civil Infrastructure
  • Industrial
  • IT – Data & Server Centers

By Region:

  • North America Medium Voltage Transformer Market
  • Latin America Medium Voltage Transformer Market
  • Europe Medium Voltage Transformer Market
  • East Asia Medium Voltage Transformer Market
  • South Asia & Pacific Medium Voltage Transformer Market
  • Middle East & Africa (MEA) Medium Voltage Transformer Market

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Study States Global Test and Measurement Equipment Market Size to Reach USD 61,534.3 million by 2034, With a 5.6% CAGR

The test and measurement equipment market is experiencing a 5.6% CAGR through 2034, with an estimated value of USD 35,684.4 million in 2024 and a projected value exceeding USD 61,534.3 million by 2034.

The demand for precise and reliable test and measurement equipment is increasing across various industries such as telecommunications, aerospace, automotive, and healthcare. This trend is driven by the need to ensure quality and performance in these sectors. The growth is also driven by the booming telecom industry, especially in emerging economies.

The increasing complexity of electronic products and systems has led to a growing need for sophisticated testing equipment. This equipment ensures functionality, reliability, and compliance with industry standards and regulations.

The demand for test and measurement devices is driven by Industry 4.0 and increasing automation. Their utilization in aerospace, automotive, and healthcare industries has shown significant growth post-pandemic.

Countries like China, Japan, India, and the United States have deployed 5G networks. This has also led to a heightened need for equipment capable of handling the technology’s higher frequencies, wider bandwidths, and increased data rates.

Key Takeaways from the Market Study:

  • The calibration services segment dominates the global test and measurement equipment market with a share of 4% in 2024.
  • Based on product type, the general-purpose test equipment segment leads the test and measurement equipment market with a share of 4% in 2024.
  • The test and measurement equipment market in Spain is anticipated to grow at a CAGR of 2% through 2034.
  • The test and measurement equipment market in China is estimated to rise at a 3% CAGR through 2034.
  • The test and measurement equipment market in India has the potential to increase at an 3% CAGR through 2034.
  • The United States test and measurement equipment market is predicted to rise by a 1% CAGR through 2034.
  • The test and measurement equipment market in the United Kingdom is very likely to grow at a CAGR of 2% through 2034.

“Companies in the test and measurement equipment market must forge strategic partnerships with technology firms, research institutions, and industry bodies. This approach helps them stay ahead in innovation and expand their market reach,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

The global test and measurement equipment market is highly competitive due to the presence of numerous key players and constant innovation.

  • Leading companies such as Agilent Technologies, Keysight Technologies, Tektronix, Rohde & Schwarz, and National Instruments have established loyal consumer bases and extensive distribution networks through their long-standing presence and industry expertise.
  • Companies are actively pursuing mergers and acquisitions to broaden their product offerings, enter new markets, and gain access to cutting-edge technologies in addition to competition.

Top 10 Key Players in the Test and Measurement Equipment Industry:

  • Keysight Technologies
  • Agilent Technologies
  • Tektronix
  • Rohde & Schwarz
  • National Instruments (NI)
  • Fluke Corporation
  • Anritsu
  • Yokogawa Electric Corporation
  • Teledyne LeCroy
  • Advantest Corporation

Recent Developments:

  • Electro Rent expanded its services in May 2024 to offer Calibration-as-a-Service (CaaS) for test and measurement equipment in the United States. and Canada, adding to its portfolio.
  • In April 2024, FLUKE won a USD 3.8 million contract from the United States Navy for 5730A multimeter calibrators to enhance the accuracy of the Naval Air Systems Command Metrology and Calibration Program in testing power electronics devices.

Key Segments of Market Report:

By Service:

On the basis of services, the sector is bifurcated into:

  • calibration services
  • after-sales services.

By Product Type:

Based on the product type, the industry is bifurcated into:

  • general-purpose test equipment
  • mechanical test equipment.

By Vertical:

On account of verticals, the sector is segmented into,

  • healthcare,
  • electronics and semiconductor,
  • IT and telecommunication,
  • aerospace
  • defense,
  • automobile
  • transportation,

By Region:

Depending on the region, the industry is divided into:

  • North America,
  • Latin America,
  • Europe,
  • Asia Pacific,
  • Middle East

Access Report Details for More In-Depth Information:

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FMI Study States Global EMC Shielding and Test Equipment Market Share to Exceed USD 11,440.5 million by 2033, Surging at 4.5% CAGR

The global EMC shielding and test equipment market size is anticipated to cross a valuation of USD 7,336.9 million in 2023. It is predicted to attain a valuation of USD 11,440.5 million by 2033. The market is projected to showcase a CAGR of 4.5% from 2023 to 2033.

The rising demand and consumption of smart electronic devices have heightened the demand for EMC shielding and test equipment. There is a rising need to assure electromagnetic compatibility as electronic devices proliferate across a variety of industries. Including consumer electronics, healthcare, automotive, and telecommunications. To avoid electromagnetic interference (EMI) and preserve the appropriate operation of these devices, EMC shielding, and test equipment are crucial.

The complexity, integration, and tight packing of contemporary electronic devices have increased risks of electromagnetic interference. During the design, development, and manufacturing phases of electronic systems, EMC shielding, and test tools play a critical role in identifying and reducing possible EMI problems.

With increased electrification, connectivity, and automation in automobiles and airplanes, the automotive and aerospace industries have experienced substantial development. To ensure the dependable functioning of electronic systems in difficult conditions, these industries need strict EMC compliance, which raises the need for EMC shielding and test equipment, and foster market growth.

Power generation, transmission, and distribution in the energy and power sector rely on complex electronic machinery and control systems. To safeguard against electromagnetic interference and maintain the stability and dependability of power systems EMC shielding is required, Moreover, to ensure the appropriate operation of electronic components in power infrastructure, EMC shielding, and testing are crucial. The expanding power demand across the globe, coupled with rising industrialization is expected to bolster market growth in the coming years.

Industrial settings are becoming more and more dependent on electronic control systems due to the advent of industrial automation and the Industrial Internet of Things (IIoT). These systems must function dependably and coexist without interfering with one another. By reducing EMI dangers, EMC shielding and test equipment are essential for assuring the smooth operation of industrial automation and control systems. The increasing digitalization is anticipated to substantially aid in market progress.

Key Takeaways from EMC Shielding and Test Equipment Market:

  • The global EMC shielding and test equipment market size expanded at a CAGR of 3.9% from 2018 to 2022.
  • In 2018, the global market size stood at USD 5,827.8 million.
  • The market size accounted for USD 7,355.9 million in 2022.
  • In 2022, the consumer electronics segment by vertical captured 32% shares in the global market.
  • In 2022, India garnered 6.1% shares in the global market.
  • In 2022, China captured 5.8% shares in the global market.
  • Japan occupied 5.9% shares in the global market in 2022.
  • In 2022, the United States captured 24.7% shares in the global market.

Recent Developments Observed by FMI:

  • SGS announced in July 2021 the launch of new mobile equipment in locations around the United States. The new launch is for in-situ Electromagnetic Compatibility (EMC) and Electromagnetic Interference (EMI) testing services.

Key Players:

  • Parker-Hannifin
  • Ppg Industries
  • Henkel
  • Laird Performance Materials
  • Rtp Company

Market Segmentation:

By Type:

  • EMC Shielding
  • EMC Type

By Vertical:

  • Consumer Electronics
  • Telecom & IT
  • Automotive, Healthcare
  • Aerospace, Others

By Application:

  • Consumer Appliances and Electronics
  • Automotive
  • Military and Aerospace
  • IT and Telecommunication
  • Medical
  • Railways
  • Renewable Energy
  • Industrial

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

Access Report Details for More In-Depth Information!

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Wi-Fi Market | Current and Future Demand, Analysis, Growth and Forecast By 2033

The Wi-Fi market is expected to be worth approximately US$ 14.08 billion in 2023. Over the next ten years, it is anticipated to experience a consistent growth rate of 20.2%, reaching a value of nearly US$ 88.90 billion by the close of 2033. This remarkable expansion can be attributed to the recent surge in internet users and a rising demand for Internet of Things (IoT) technology.

The global Wi-Fi market expanded at a CAGR of 18.1% between 2018 and 2022. The rising advancement of the Internet of Things (IoT) is to create new avenues for the key market players shaping the Wi-Fi industry in the upcoming 10-year epoch.

Global Wi-Fi Market: Drivers and Restraints

With more people switching to smartphones, laptops and other Wi-Fi enabled devices, there is a greater demand for better connectivity, network and more importantly for wireless connectivity in outdoor setups. These are the major driving factors for the Global Wi-Fi market.

Too many users using the same access point, causing contention loss, it acts as a restraining factor for the Global Wi-Fi market. Also, the lack of awareness in under developed countries would reduce the market, as most users in these countries are less keen to pay more.

Picture background

Keeping in mind the world wide use of internet and its expanding growth, industries today are coming up with improved standards to provide better connectivity and mobility to their users. In current scenario, a lot of advancements are going on in Wi-Fi market. Wi-Fi or Wireless Fidelity is used for connecting to the devices to networks.

This communication protocol is vital for machine to machine (M2M) communication, hot spots, and in-flight. Global Wi-Fi market is expected to grow significantly over the years. The major drawback that this market faces apart from the high initial cost, is the security threat. Wireless hacking can endanger sensitive information of the users along with privacy. Also, the lack of skilled labors to troubleshoot the wireless devices creates another problem for the market.

Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-1876

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Voice Assistance Application Market is Expected to Reach a Valuation of US$ 20.2 Bn by 2032 | Future Market Insights, Inc.

As per Future Market Insights’ latest industry analysis, the voice assistant application market revenues were estimated at US$ 2.8 Bn in 2021 and is anticipated to grow at a CAGR of 18.5% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 20.2 Bn.

The growth is supported by the rising adoption of smartphones, expanding digitalization, and the desire for enhanced customer experience. Owing to the surge in younger customers and homes with children, voice-based searching is on the rise across the globe. Customer retail services are moving toward voice shopping as a result of the development of an omnichannel environment combined with artificial intelligence. Customers may use voice-assistant technology to ask inquiries about products, manage orders, and return items. The Voice Assistant application aids in boosting the capacity for processing client orders and requests, which propels the industry forward.

Customers may shop for items, inquire about pricing and attributes from the comfort of their home, and sometimes even receive tailored suggestions based on their previous purchases. This experience can be made even more seamless and participatory with the use of voice assistants. Voice assistant application solutions are able to comprehend the context and attitudes of communication, allowing them to effortlessly interface with back-end information and third-party sources to provide further personalization.

The ability of voice assistant programs to automate repetitive chores is one of its prominent features. While voice assistant software handles regular activities, individuals are free to focus on more essential duties. As a result, adding voice assistants not only improves the customer experience but also the efficiency of an organization or business.

“During the projected period, Rising smartphone device penetration, increased digitization, and a drive for better customer experiences will all aid the growth of Voice Assistant Application industry developments in the future years.” comments a Future Market Insights analyst.

Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Voice Assistant Application Market are focused on R&D to offer innovative technological solutions.

  • In May 2020, Cerence Inc. unveiled “Cerence ARK Assistant,” a modern turnkey automotive digital assistant in American English. This newly announced solution is based on Cerence speech and AI technologies and is supported by the company’s inaugural assistant for the Chinese market, which debuted last year.
  • In April 2020, Google LLC has made the Connected Homes software development kit generally available. This development toolkit will assist producers of linked devices in improving the adaptability of their products.

More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Voice Assistant Application Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Voice Assistant Application Market in terms of Component (Solution and Services), Deployment (On-Premises, Cloud), Organization Size (SMEs, Large Enterprises), and Channel Integration (Websites, Mobile applications, Contact Centers, Smart Speakers, Social Media), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

About IT and Communication Division at Future Market Insights

Future Market Insights’ highly educated IT and Communication team provides insightful research, real-time insights, and effective suggestions to customers all over the world with their relevant business intelligence requirements. For over a decade, the team successfully examined the IT and Communication division throughout 50+ nations, with a repertory of over thousand studies and 1 million-plus data points. The group offers unrivaled end-to-end research and advisory expertise. Please contact us to see how we can assist you.

View Full Report @ https://www.futuremarketinsights.com/reports/voice-assistance-application-market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube