Market Research Blog – Page 10215 – New Product Development

DevSecOps Market is Slated to Grow at 17.6% CAGR Between 2022 – 2032 | Report by FMI

According to Future Market Insights A(FMI), the global DevSecOps market is estimated to be valued at US$ 4,373.4 Mn in 2022. Moreover, with rising adoption of DevSecOps software and services across numerous industries, the overall market is anticipated to exhibit a CAGR of 17.6% during the forecast period, totalling US$ 22,077.4 Mn by the end of 2032.

DevSecOps is a set of principles and practices which integrate the functioning of the development team and operations team regarding a software project. It is an addition to the DevOps software development method, the purpose of this method is to deliver secure applications and software with the proper security measures applied during the software development phase, from its initiation.

DevOps has three different facets, continuous integration which deals with the continuous development of programs, updates, changes, models etc. and when they are regularly tested and merged with a repository, it is called continuous delivery and deploying it to the end user is called continuous deployment.

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Rising need for faster and highly secure application delivery along with growing internet penetration is expected to provide a strong thrust to the global DevSecOps market during the forecast period.

Similarly, surge in cybercrimes and growing adoption of cloud-based services will push the demand for DevSecOps software and services during the forthcoming years.

Key Takeaways: DevSecOps Market

By solution, the software segment held the largest market share with a total valuation of US$ 3,753.7 Mn in 2021. However, the services segment will exhibit the highest CAGR of 21.1% for the forecast period 2022-2032.
By enterprise size, the large enterprises segment dominated the global DevSecOps market with a share of 55% in 2021. However, small and medium-sized enterprises segment is estimated to grow at the fastest CAGR of 5% during the assessment period.
By industry, the IT & telecom segment holds the largest market share while the healthcare industry will exhibit the highest CAGR of 1% through 2032.
North America dominates the global DevSecOps market with a market share of 1% in 2021.
The DevSecOps market in South Asia and Pacific is poised to exhibit a CAGR of 8% between 2022 and 2032.
Demand for DevSecOps across India is anticipated to grow at a prolific CAGR during the assessment period.

According to FMI Analyst, “Instead of seeing DevSecOps as an integration between the development, security and operations team, one, should see it as a whole unit which consists of professionals who have their different fields of expertise and are collaborating together to deliver the product. Due to this collaboration, several internal practices like communication and transparency in the content being developed and deployed can benefit the organizations and make it one of the most implemented software development methods.”

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Delivering End-Product at a Faster Speed Along With the Integration of In-built Security Driving DevSecOps Market

Development of software systems and applications using DevSecOps methods implements various features like microservices and automation. There is also a continuous process of developing programs and updates which are stored into a central repository.

Involvement of the security team also helps in the rapid identification of bugs and security threats to act upon. Due to this the end product is received at a faster rate, incentivising the end-users to rely more on DevSecOps development methods.

More Valuable Insights on DevSecOps Market

In this report by Future Market Insights, DevSecOps market has been segmented into four sections: by solution: software (on-premises, and cloud), and services (professional services, and managed services), enterprise size (large enterprises, and small and medium-sized enterprises (SMEs)), industry (BFSI, IT and telecom, government, retail, manufacturing energy and utilities, healthcare and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and evaluate lucrative opportunities in the DevSecOps demand outlook.

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DevSecOps Market by Category

By Solution:

Software
- On-premises
- Cloud
Services
- Professional Services
- Managed Services

By Enterprise Size:

Large Enterprises
Small and Medium-sized Enterprises

By Industry:

BFSI
IT & Telecom
Government
Retail
Manufacturing
Energy and Utilities
Healthcare
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East and Africa

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Colombia Agro Tourism Market is Expected to Grow at a US$ 7.1 Billion by 2032

The global Colombia Colombia Agro Tourism market is projected to be evaluated at US$ 7.1 Billion by 2032, up from US$ 3.7 Bn in 2022, at a CAGR of 6% From – 2022-2032

Colombia Agro Tourism is an extension of ecotourism as it lets visitors experience the life and activities on a farm. Tourists stay at agriculture oriented properties and observe the day-to-day activities of the people. Colombia is an agricultural country, where Colombia Agro Tourism is gaining popularity because the farming community remains willing to share with tourists their customs, their practical way of life and their relationship with the land.

Tourists can learn about agricultural practices and rural life in Colombia. Colombia Agro Tourism in Colombia provides various benefits to the producers such as cash flows during off seasons as well. It is a useful way to sustainably diverse and expand a farm or a ranch. Colombia Agro Tourism is a strategy for diversifying income of rural people in Colombia.

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Colombia has various ongoing agro projects and tourists can participate in live agro projects such as the Café Alban project in order to gain the unique experience of sustainable farming. The local population of Colombia has excitement and respect for the foreign visitors.

COLOMBIA AGRO TOURISM IN COLOMBIA: ANALYSIS

Colombia and its coffee are inextricably linked. Tourists can enjoy all the experiences centred on its flagship product (coffee) at places such as Antioquia, Boyaca, Huila, Narino, Santander, Sierra Nevada de Santa Marta and Tolima. Colombia has gained worldwide recognition for its coffee tradition because it symbolises the national culture of Colombia.

The Coffee Culture Landscape of Colombia (CCLC) is an exceptional example of the productive and sustainable landscape of the country. It is also included in the list of top World Heritage Sites by UNESCO. Tourists can enjoy boutique and iconic estates in this coffee cultural landscape. Many airline companies have recently added more number of flights to Colombia.

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A number of cheap flights are available from the capital city of Bogota to Colombia Agro Tourism destinations such as St. Lucia. These can be booked through domestic online travel agencies such as Skyscanner Ltd.

Colombia being less expensive than other Colombia Agro Tourism destinations in the world, is attracting emerging middle classes for Colombia Agro Tourism. Colombia Agro Tourism is growing in Colombia because it gives tourists an experience to produce and grow their own food and tourists can also feed the animals on the farms.

Cottages, guest houses situated in between the farms and ranches provide tourists an exotic experience of nature tourism. Colombia Agro Tourism in Colombia is an innovative, sustainable form of tourism as it conserves and protects nature. It promotes local crops globally and fosters the export of domestic agricultural products.

COLOMBIA AGRO TOURISM IN COLOMBIA: ATTRACTIONS

Colombia Agro Tourism in Colombia offers rides along unique sugarcane landscapes, through bridges and tunnels across the mountains on a rail cart. Colombia Agro Tourism in Colombia offers tourists authentic Colombian meals prepared by families of small growers. Colombia Agro Tourism in Colombia is one of the ideal destinations for solitude-seeking travellers.

Further, tourists can enjoy the most scenic landscapes of Jerico village while experiencing Colombia Agro Tourism in Colombia. Tourists can experience bird watching, wildlife watching, whale watching and nature parks during Colombia Agro Tourism in Colombia.

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COLOMBIA AGRO TOURISM IN COLOMBIA: CHALLENGES AND OUTLOOK

Lack of signage for the tourists who are visiting farms and unavailability of ATMs are some of the problems faced by tourists engaged in Colombia Agro Tourism in Colombia. Colombia Colombia Agro Tourism organisations should focus on destination marketing and increase their presence on the web in order to boost Colombia Agro Tourism in Colombia.

Further, Colombia Agro Tourism in Colombia can foster the growth of culinary tourism and can be positioned as a destination for corporate events, extended holidays and wedding celebrations. Community Based Eco Colombia Agro Tourism Sector Program (CBEAT) aims at enhancing communities through beautification, branding, cultural events, marketing, training and upgrading of tourism facilities to provide a foundation for economic development and sustainable livelihood.

The Dennery fish market facility in Colombia has increased the influx of local as well as foreign tourists, and has made the annual “Fish Festival” a must-be-participated-in event for tourists.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

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Key Segments in the Colombia Agro Tourism Market

By Activities:

Overnight Stay
Special Events and Festivals
Off the Farm
Recreation Activities and Events

By Tour Types:

Group Travelers:
Individual Travelers

By Consumer Demographics:

Men
Women
Kids

By Age Group:

15-25
26-36
36-45
46-55
55 Years and above

By Booking Channel:

Online
Offline

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Ironing Table Market is to be Valued at US$ 4,305.6 Million from 2022 to 2032

The ironing table market is estimated to be valued at US$ 2,168.4 Million in 2022, forecast a CAGR of 7.1% to be valued at US$ 4,305.6 Million from 2022 to 2032. Growth is attributed to the increasing modernization and urbanization coupled with the increasing purchasing power of consumers. From 2016-2021 a CAGR of 5.9% was registered for the ironing table market.

The ironing board simplifies the process of ironing clothes, allowing the user to do it more comfortably. Ironing boards are available to consumers via a store, outlets, and online platforms.

While millennials are known for dumping traditional household products, ironing boards are still staples in the majority of households.Consumers, while buying for ironing boards primarily look for foldability, frame design, measurements, iron rest, and durability.

Market players are looking for innovative ways to offer ironing boards.The warranty period or durability on an ironing board is very crucial because it is one of the aspects every consumer look at and is projected to gain significant prominence over the years to come. The global ironing boards market is anticipated to witness a robust CAGR amid the forecast period, 2020-2030.

Ironing Boards Market – Key Trends

Market players are introducing innovative and new ironing boards to re-energize their sales. They are posting online How to-videos to educate their millennial users about the fabric basics. For instance, Rowenta a manufacturer powerful irons and ironing board launched a unit on wheels that fold compactly to easily fit into a closet. The majority of manufacturers are opting for their platforms or other online platforms for sales of the ironing board to extend their customer reach.

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These platforms offer significant discounts and are pulling in consumers.The sales of ironing boards are directly driven by sales of ironing products such as regular iron, steam iron, or steamers.

As steamers were gaining traction, the technological progressions by market players have introduced boards that can be moved in three different positions, from horizontal to upright. Designing a new device as the game-changer of the ironing chores will impact positively on the millennial’s dominated market.

Ironing Boards Market – Growth Restraints

Millennials’ preference towards other ironing variants such as steamer or the wrinkle remover setting on their dryers can hamper the sales of ironing boards. The height and sturdiness of theses boards matter a lot while using them, many users complain of no adjustable height and poor quality.

Additionally, ironing boards require proper maintenance as it could break if extra force is applied.Furthermore, ironing boards are quite expensive which can impact sales negatively during the forecast period.

COVID-19 Impact Analysis on Ironing Board Market

The COVID-19 outbreak affected not only the ironing industry but the ironing boards too. The market is witnessing low demand due to consumers strictly the following stay at home orders amid the crisis, this has led the market towards the supply-demand gap. The demand for ironing boards might pick up in the second half of the years due to the relaxation of lockdown to a few extent and individuals will return to outdoor routines.

Ironing Boards Market – Region-wise Analysis

North America will be accounting for the biggest market share owing to the availability of a wide assortment of ironing boards suitable according to different requirements of the consumer base.

The Asian region has shown impressive growth in production and consumption of ironing boards as market players from these regions have been making efficient ironing boards with the least expenses. Moreover, strong distribution channels have also made the ironing boards available to common masses at low costs.

Ironing Boards Market – Competitive Analysis

Prominent players in the global ironing boards market include –

Flipzon
Magna
PAffy
Solimo
Galoppia
Orril
Magna Homewares
Oumffy
Bathla.

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The market is driven by continuous product innovations and renovations and comprising features that are suitable for a different class of consumers. For instance,Oumffy has introduced self-standing and foldable ironing boards that are extra wide and ergonomic and adjustable in four different heights.

Homz has launched ironing board T-leg has 100% cotton cover with polyurethane foam pad and withstands heat resistance of a 450-degree iron. The company has also launched a heavy-duty Durabuilt Ironing board that has mesh- improved steam flow steel top with scorch guard and stain-resistant cotton covers.

Global Ironing Boards Market: Key Players (this is an indicative list – full list of key players available upon request)

Whitmor
Leifheit
Brabantia
HOYO
Ybm home
Forever Holdings
Honey-Can-Do
Household Essentials
Homz
Widemex
Casa
Parker
Hafele America
Westex
Minky

Regions and Countries Analyzed in the Report

North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of LATAM)
Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
East Asia (China, Japan, South Korea)
South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
Oceania (Australia, New Zealand)
Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Ironing Boards Market – Market Segmentation

By Classifications

Steel
Aluminum
Plastic

By Applications

Households
Laundry
Apparel Industry
Hotel

By Types

Portable table top ironing board
Wall-mounted iron table
Table-top or full-size ironing board

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Cruise Tourism Market is Projected to be Appraised at US$ 17.4 Bn by 2032 | FMI

The global Cruise Tourism market is estimated to reach at US$ 17.4 Billion by 2032, up from US$ 5.3 Billion in 2022, advancing at a CAGR of 11.97% during the forecast period.

The launch of novel inventive ships with technological advancements and numerous onboard activities for the travellers to enjoy is one of the primary factors driving the demand for cruise tourism. Cruise tourism implies to holidays that are partly or solely based on a cruise ship. Cruise tourism lets tourists experience a multi-centre holiday, wherein the tourists spend quality time at several destinations during their entire trip.

The rise within the disposable earnings of people coupled with the expansion within the cruise onboard facilities and services will grow the market for Cruise Tourism in the forecast length.

Cruise Tourism is the travel on the cruise ship. A cruise ship is a passenger ship used for pride voyages whilst the voyage itself, the ship’s facilities, and every so often the extraordinary destinations along the manner shape a part of the passengers’ revel in.

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Cruise ships can bring as many as lots of passengers in an unmarried trip and are a number of the most important ships in the global by using internal volume, larger than many cargo ships. The following is a list of cruise ships with a gross tonnage large than 120,000.

The file covers all of the major traits and drivers gambling a key function inside the increase of the Cruise Tourism marketplace. The Cruise Tourism marketplace is segmented via Type and Region.

Market Dynamics
The worldwide Cruise Tourism is more often than not driven with the aid of the upward thrust inside the disposable income of the human beings everywhere in the globe, coupled with the growth within the choice of luxurious life via the human beings.

The growing demand for the cruise excursion among all age human beings with all sorts of fun sports for them is in line with the age institution. The new modern ships are developing with new technological development and mass extra onboard fun for the tourists to experience, and therefore attracting large crowd all over the international.

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The growing demand for cruise excursions for an extraordinary region and the growing desire of people for luxury tours is looking the vendors to add new cruise ships which more luxurious capabilities and all more quantity of cruises to be had for exclusive places to offer options to the people journeying.

The agencies are all set for the rising demand for the development of the latest cruise ships. For example, there is a report of 42 ocean and river cruise ships under construction or on order for deliveries over the next years (2021 – 2028). Twenty of these are massive cruise ships wearing over 1,000 passengers every. Thirteen are mega cruise ships that everyone carries over 4,000 passengers. In addition to extra than 167 cruise ships essential cruise line corporations have been added given that 2000. As this increase maintains, 2019 – 2020 might be a great year for brand new cruise ships.

However, excessive fees, higher operation fees, and also because of environmental issues are a number of factors that will be hampering the boom of Cruise Tourism within the forecast period.

For instance, the river cruise sector is growing by about 16% annually and is impressive with both the number of passengers and yields, especially on the market in Germany – the unquestioned river vacation travel market’s leader. River cruise ticket sales are growing faster compared to ocean-going ship vacations. Passenger capacity on the main European rivers is also increasing, and new operators emerge, the old ones renovate regularly or expand their fleets by building larger, new-generation boats

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Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in Technology to stand out as strong competitors in the market. Global Cruise Tourism is a competitive market with the presence of various global and regional players in the market. The major players are Carnival Corporation & PLC, Disney Cruise Line, MSC Cruises, NCL Corporation, and Royal Caribbean International. Other key players in the market include AIDA Cruises, Celebrity Cruises, Cunard Line, Marella Cruises, and Saga Cruises.

In January 2019, Essel Group’s cruise business, Zen Cruises, has announced that its cruise line, Jalesh Cruises, will begin its first sail in April from Mumbai. The multi-destination cruise line will offer entertainment shows, adventure activities, and exotic authentic cuisines packed with international hospitality on the high sea.

In March 2019, Italian shipbuilding giant Fincantieri has launched Costa Venezia, a massive new cruise ship with a capacity of over 5,200 guests. With 135,500 tons and 323 meters in length, the Costa Venezia will be the largest ever ship introduced by Costa to the Chinese market. The Costa Venezia is part of an expansion plan that includes a total of 7 ships being delivered to the Costa Group by 2023, for a total investment of over €6 billion. It started its voyage on 8 March.

Key Segments in the Cruise Tourism Market

By Cruise Type:

Adventure Cruises
Classic Cruises
Luxury cruises
River cruises
Others

By Tourist Type:

Independent Traveller
Tour Group
Package Traveller

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Casino Hotel Market is Projected to Grow at a 4.7% CAGR in 2032 | FMI

The global casino hotel market is estimated to be assessed at US$ 311.6 Billion by 2032, up from US$ 191 Billion in 2022, at a CAGR of 4.7% from 2022 – 2032

A casino hotel is a facility that provides temporary lodging services, casino services and restaurant – bar services. The customers are benefitted by both lodging as well as gambling (casino) facilities. As both these offerings are available under one roof it becomes very convenient for the customers as they can enjoy all benefits without moving to different places (lodging, food, and casino in one place).

The casino hotel industry has witnessed a phenomenal growth in the last few years. This has enabled the sector investors to invest and establish many luxurious casino hotels in several prime regions.

The casino hotel industry spawns revenues from various services and amenities such as food, beverages, entertainment, gaming and casino, dining, rooms and lodging, get-together facilities and so on. There are many casino hotels across the globe and these are taking over the lodging and hotel industry in terms of tourist preference at a faster rate.

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The trend of the casino hotel industry is to make available different facilities in the luxury tourism sector to attract more customers and ensure the long stay of these customers to enjoy and experience the casino hotel property. This industry is perceived as glamorous. The growth of the casino hotel industry is generally seen in spring and summer seasons rather than winter as people prefer travelling during favourable weather conditions.

Casino Hotel Industry: Push Factors

It also provides opportunities in other areas such as accounting, food services, advertising, event production and management, and so on. It does not require any additional qualifications for these posts and hence people find it even more convenient to earn from the glamorous world of the casino hotel industry.

There are many aspects that contribute to the exponential growth of the casino hotel industry. This industry plays a major role in the economic development of a country. Moreover, it provides a wide range of career opportunities such as supervisors, gaming managers, slow machine supervisors, security guard positions, gaming dealers etc.

The casino hotel industry has a strong record of internal promotions of their workers and staff based on their performance and this adds to the popularity aspect of this industry. It also helps the government by generating tax revenues. Consumer spending on the tourism sector has increased after the economic growth due to high disposable income.

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Online reservations make it easier and convenient for the tourists as well as the staff members to make accommodation changes and also exchange information regarding current offers, best deals etc. This convenience aspect leads to an increase in the number of travellers on any given day.

Casino Hotel Industry: Pull Factors

Economic recession is a major challenge faced by the casino hotel industry. Owing to the possible downturn of the economy, the demand in this sector could be in the declining phase resulting in dropping sales figures. Further, the reduction in domestic as well as international travels would be a major detrimental factor to the growth of the casino hotel industry as it relies on the tourists and their footfall in the various casino hotel facilities.

Casino Hotel Industry: Key Regions

The casino hotel industry is popular in the United States, Macau, Australia, China, Singapore and South Korea. The emerging economies in the Asia Pacific region reflect high growth potential. The United States is a relatively bigger market for the casino hotel industry.

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Casino Hotel Industry: Key Players

Caesars Entertainment Corporation, MGM Grand, Las Vegas Sands Corporation, Wynn Resorts Limited, Bellagio, CasaBlanca and Marina Hotel and Casino are some of the well-known players in the casino hotel industry sector.

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Key Segments in the Casino Hotel Market

By Type:

Poker
Blackjack
Roulette
Slots
Others

By Consumer Orientation:

Men
Women

By Age Group:

18 to 35 Years
36 to 50 Years
50 Years and Above

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Ice Cream Processing Equipment Market Is Set To Grow At 1.4X By End 2031 | FMI

The ice cream processing equipment market experienced slow growth from 2016 to 2020, with a CAGR of 2.5 percent. Globally rising disposable income and rising ice cream consumption are driving market expansion. The ice cream processing equipment market is set to grow at 1.4X between 2021 and 2031. Increasing consumption of ice cream and overhauling of ageing machinery by automated prototypes will spur growth registered in the market.

During 2020–21, the market experienced steady yearly growth at a CAGR of 3.5%. During the assessment period, the market is anticipated to pick up steam due to the rising demand for novel flavours and organic products.

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During the FQ-20, surging demand from consumers for packaged frozen ice cream and desserts has helped the market to sustain growth. In the following years growth will continue on account of the increasing demand for low-fat and organic ice cream.

Backed by this, the market is expected to reach a shipment of 56,000 units during forecast period.

Key Takeaways from FMI’s Ice cream Processing Equipment Market Study

In terms of product type, hard ice cream processing equipment segment is expected to lead the market
Continuous freezers segment is expected to be the largest segment, expanding at 4.8% CAGR during the forecast period
Molding equipment is expected to register fastest growth based on equipment type, followed by extrusion equipment
India is expected to witness high growth owing to the increasing demand for natural and organic flavored ice cream
China is expected to be one of the most lucrative country in East Asia for ice cream processing equipment market
The U.S. is anticipated to retain its dominance, registering steady growth at over 3.6% CAGR during the forecast period
Italy and Germany are identified as key producers, and will spearhead the growth of Europe’s ice cream processing equipment market
South Korea and Japan, collectively, are expected to register growth at 4% CAGR in 2021

“Increasing consumption of ice cream, technological advancements and growing urbanization in developing economies including India and China are expected to create lucrative growth opportunities in Asian countries,” says the FMI analyst.

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Vendor Landscape

The global ice cream processing equipment market is highly fragmented owing to the presence of numerous local and established players.

Future Market Insights has identified some key players in the market such as ROKK Processing Ltd, Tetra Pak Processing Equipment GmbH, Gram Equipment A/S, CARPIGIANI GROUP, Guangzhou Guangshen Electric Produce Co., Ltd, and Nanjing Puyuan Ice Cream Machinery Manufacturing Co., Ltd among others.

Leading players in the market are establishing new plants and introducing new products to gain competitive edge in the industry. Forming alliances with key companies and local players is another strategy adopted by key manufacturers to sustain their position.

For instance, in June 2021, ice cream producer Dreyer’s Grand Ice Cream announced the expansion of its two production line for Drumstick Products. The company announced the investment of US$ 145 million of its new plant in Indiana, U.S.

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Diabetic Pen Cap Market by Technology, Application & Geography – Analysis & Forecast to 2027 | Says FMI Analyst

Diabetic pen cap is a digital device that helps patients remember the last time when they had their insulin injection. For a diabetic patient forgetting even a single dose of insulin can be very dangerous and can cause various severe effects. Diabetic pen cap is a device which is very easy to use and no technical expertise is required to operate it. In a diabetic pen cap there is a built-in timer on an LCD display. This built in timer of diabetic pen cap automatically saves the time when the cap is attached on to the diabetic pen and resets the time as soon as the diabetic pen cap is removed. In this way a diabetic patient is saved from the anxiety of not knowing for sure whether s/he has taken the last shot or not.

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According to the data of a recent market research conducted by Novo Nordisk at least one out of three people skip their insulin doses or do not follow the dosage as prescribed by the doctor at least three times a month. This data indicates the potential for the market of diabetic pen cap to grow.

Diabetic Pen Cap Market: Drivers and Restraints

The market for the diabetic pen cap is expected to be driven by the increase in the number of diabetic patient. The market can also grow owing to the increasing awareness of people regarding diabetic pens and diabetic pen caps. The increase in the disposable income of people can lead to increased expenditures in convenient healthcare methods like diabetic pen caps. Diabetic pen caps market can be driven swiftly due to the advertisements and internet connectivity which is increasing around the globe. As the product is new so there are not much manufacturers in the market and this can lead to increased profit for the established players.

The major challenges that this market can face is the strict regulatory policies from various government regulatory authorities like FDA. Also the short life span of the product can work as a limiting factor for the growth of diabetic pen caps market.

Diabetic Pen Cap Market: Region-wise Outlook

The diabetic pen cap sell was initially started in the European countries and the response of the people was observed. After the success of the diabetic pen caps in the European market and the collection of revenue from the European market the product was launched in the North American market. Now the diabetic pen caps are also available in the Asia Pacific and Middle Eastern market.

Diabetic Pen Cap Market: Key Market Participants

The major players involved in the manufacturing of diabetic pen caps include Timesulin, Novopen Echo, The bee and Gocap.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Diabetic Pen Cap Market: Segmentation

The market for diabetic pen caps can be segmented on the basis of end user and regions

On the basis of end user

Hospitals
Retail pharmacies
Clinics
Online pharmacies

On the basis of region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
Japan
Middle East and Africa

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Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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Asia Pacific Religious Tourism Market to be Appraised at US$ 14.4 Bn by 2032 | FMI

The global Asia Pacific Religious tourism market to be appraised at US$ 14.4 Billion by 2032, up from US$ 5.3 Billion in 2022, progressing at a considerable CAGR of 11.30% during the forecast period.

Religious tourism is one of the earliest forms of tourism in the Asia Pacific region. Religious tourism has become a much larger and widely segmented industry in the recent years. Most of the communities believe that religious tourism is only applied to major pilgrimage destinations. However, religious tourism is not destination oriented.

Religious tourism not only means travelling to holy destinations; it could also mean as travelling for a humanitarian cause. Religious trips can be a prime objective of the journey, but it can also be a part of a voyage to a destination with other attractions as well. It is not necessary that a traveller should belong to some religion to travel to a particular religious spot.

Religious tourism is one of the fastest growing segments of the travel and tourism industry in the Asia Pacific region. There are mainly two kinds of tourists of religious travel in the Asia Pacific region. One – domestic tourists who have a spiritual attachment with the destinations in line with their religious beliefs and two – foreign tourists who have the curiosity to experience a spiritual experience different from their own.

Religious tourism can be divided into several categories such as religious retreats, pilgrimages, leisure vacations, conventions and rallies, faith-based camps, monastery visits and guest stays, and other religious tourist attractions.

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Religious Tourism in Asia Pacific: Drivers and Restraints

Religious tourism helps bring people together for a common cause to admire and protect the heritage of the religion. Religious tourism in the Asia Pacific region is increasing every year due to the growth in the number of domestic and international travellers.

The continuous growth in the Asia Pacific religious tourism industry is attributed to the political stability and increase in income levels of the emerging middle-class population. Most of the developed spiritual destinations in the Asia Pacific region have world-class transport infrastructure, outstanding human resources, and a high degree of ICT readiness, which are driving tourism activities in these destinations.

The increasing willingness of consumers for more authentic experiences and engaging themselves in the cultural and spiritual traditions associated with a particular religion is driving the religious tourism segment in Asia Pacific. Other prominent growth drivers include the high growth in the overall tourism industry in Asia Pacific, emergence of several tourist segments such as national and regional tourist boards and the combined efforts of various travel service providers to extend traditional tourist seasons.

Several tourist companies and boards are promoting religious tourism, which is expected to drive the overall tourism industry in this region. The growing global culture where people seek more diversification within a tour and more unusual holidays is further acting as a strong driver for religious tourism in Asia Pacific.

There are several destinations in India that suffer from short but intense seasons. These intense seasons affect the dynamics of the regions for the rest of the year. The heavy seasonal rush to such destinations puts serious pressure on the local transport infrastructure. In many cases, harsh weather conditions cause heavy rainfalls, landslides, and road blocks and even loss of lives.

This factor is expected to act as a major challenge for the religious tourism industry in Asia Pacific. In this era of plastic, an excessive use of plastic and inefficient waste disposal services are causing the problem of waste management in some of the religious destinations. Further, another problem is air and water pollution due to the large number of travellers and vehicles present at religious locations. These factors act as a challenge for the growth of the religious tourism industry in the Asia Pacific region.

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Religious Tourism in Asia Pacific: Key Destinations

There are a lot of sites in Asia Pacific that have gained a lot of importance for religious tourism. There are many places and ancient sites in this region that have a religious influence but have been abandoned long back. Some of the important places in Asia Pacific where religious tourism is practiced are listed below:

Senosji temple, Tokyo
Varanasi, India
Takstang Monastery, Bhutan
Shwedagon Pagoda, Myanmar
Bodh Gaya, India
Wat Phra Kaew, Bangkok

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Agricultural Food Grade Rubber Conveyor Belt Market Worth US$ 5,506.59 Mn by 2032 | FMI

The market for agricultural food grade rubber conveyor belts is anticipated to reach US$ 3,380.57 million in 2022 and US$ 5,506.59 million by 2032. During the forecast period, sales of agricultural food-grade rubber conveyor belts are anticipated to expand on average at a CAGR of 5%.

As consumer preferences for packaged food and beverages grow, businesses are being forced to automate their manufacturing processes in order to increase production efficiency. The packaging of beverages, dairy products, ready-to-eat foods, and ready-to-mix foods is just one of the many applications where the market for food grade conveyor belts has experienced significant growth.

Standard conveyor belt systems are far more effective at moving goods in manufacturing facilities with automated assembly lines. The growing adoption of automated production lines across numerous industries in developed and developing countries is therefore expected to lead to an increase in demand for agricultural food-grade rubber conveyor belts over the course of the forecast period.

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The report predicts that demand for conveyor belts will continue to be strong due to the installation of conveyor belts at an increasing number of automated assembly lines set up in manufacturing facilities.

Standard conveyor belts that deliver relatively more efficient performance translate into least turnaround time for manufacturers, and thus represent the highest adoption potential.

Key Insights Drawn from the Research Intelligence

Standard black rubber conveyor and elevator belt owing to superior efficiency holds more than 70% share in the total market value, at present.
Application of agricultural and food grade rubber conveyor belt in processing equipment continues to be maximum, accounting for over half the share of the total market revenue.
Material handling and packaging equipment are projected to cover a significant market value in terms of application, equating a share of just-under 1/4^th of the global market revenue.
With more than 60% value share in agricultural and food grade rubber conveyor belt market, synthetic rubber remains a preferred material over the natural variant.
The end use analysis of agricultural and food grade rubber conveyor belt landscape reveals that food grains/cereals and sugar represent a cumulative share of more than 55% in the global value, followed by the vegetables segment.
SEA & Pacific and Europe represent the largest regional markets for agricultural and food grade rubber conveyor belt respectively, contributing over 40% share in the total market value.

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Maintenance Service

The global market for agricultural and food grade rubber conveyor belt is a highly fragmented landscape, with Tier 3 players holding a major share of the revenue. Looking at the intensity of competition on the global agricultural and food grade rubber conveyor belt landscape, a majority of global as well as regional players are striving to introduce maintenance service packages with an objective to cater to the growing demand for onsite conveyor belts maintenance.

As a typical conveyor belts system has an average life span of four years and requires timely maintenance check for superior performance, a wide scope lies for the incorporation of technologically advanced monitoring systems. Companies are likely to leverage their technical expertise in maintaining a differentiating edge over competition, projects the report.

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Accelerated Local Food Production Is Creating Opportunities

Europe, one of the two key regions for growth of agricultural and food grade rubber conveyor belt market, has been the global agricultural hub. The EU has been playing a pivotal role in empowering local producers and farmers through CAP (Common Agricultural Policy). The ultimate objective of promoting local farming activities and supplement the overall food production levels is likely to propel sales of agricultural and food grade rubber conveyor belts in coming years.

Favorable government initiatives, improving food policies, and evolving FDA guidelines, collectively highlight growing significance of food production safety, security, speed, sustainability, efficiency, transport, and logistics across the agricultural and F&B industries. FMI thus expects emergence of a slew of lucrative deployment opportunities for agricultural and food grade rubber conveyor belt manufacturers.

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European Union Tourism Market is Expected to Reach at a US$ 1262.97 Bn in 2032

The European Union tourism market is estimated to reach at US$ 585 billion as on 2022, is projected to grow at a CAGR of 8%, and the valuation is expected to go up to US$ 1262.97 billion in 2032.

Considered to be a destination for travellers of any kind, and beautified with some glorious places, the European Union tourism market is expected to increase.

The European Union is one of the most loved tourist destinations, and is meant for its historical places. The beaches in this region are clean.

Moreover, if we talk about countries per se, there are huge number of countries to visit in the European Union. The region is home to some of the most beautiful mountains, and the diverse culture amongst various nations makes the entire region lively.

Not only that, the European Union also contains certain ‘Wonders of the World’ which makes the region a popular holiday destination.

What are the Current Market Dynamics pertaining to European Union Tourism Market?

The European Union is synonymous to some of the most beautiful buildings, and towers. If we talk about towers, France is the country which immediately comes to our mind. It is the home to one of the wonders of the world, which is ‘Eiffel Tower’.

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The Eiffel tower is a major tourist attraction, and the tourists from across the world visit France to get a glimpse of Eiffel Tower, which was built for the purpose of celebrating French revolution. The Eiffel Tower is made up of wrought iron.

The Loire Valley in France is famous historical towns and castles. The place is famous for picturesque landscape.

Who are Some of the Key Players in the European Union Tourism Market?

Some of the key players in the European Union tourism market are: Topdeck, The Natural Adventure Company, G Adventures, Intrepid, Trafalgar, GJ Travel, Shamrocker Adventures, Exodus Travel, On Go tours, Tauck, and Tuckan.

Chantha Meas of the G Adventures won the Wanderlust World Guide Awards in 2019. His testimonials speak volumes about his work.
Exodus Travel group won the sustainability champion award at the ‘Which? Awards 2022’ in recognition for their sustainability goals and initiatives.

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Key Segments Profiled in the European Union Tourism Market Survey

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