Market Research Blog – Page 10297 – New Product Development

Compressed Air Filtration And Dryer System Market Is Predicted To Grow At A Moderate CAGR Of 6% During 2022-2032 | FMI

The compressed air filtration and dryer system market is predicted to grow at a moderate CAGR of 6% during the forecast period. The compressed air filtration and dryer system market is likely to reach nearly US$ 9.8 Bn by 2032 from US$ 5 Bn in 2021.

Compressed air solutions, which are increasingly being used to improve production, are highly sought after by the food and beverage industries. Equipment is protected from corrosive and dangerous environments by compressed air dryers.

Because of their numerous applications in a variety of industries, including healthcare and medicine, compressed air dryers have grown in popularity in recent years. To meet rising demand, manufacturers have increased their manufacturing capacity by utilising refrigeration systems in recent years.

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The automotive, healthcare, and food and beverage sectors all have positive outlooks for the compressed air filtration and dryer system market. Compressed air production is one of the most expensive auxiliary functions in all industries. Compressed air filters and dryers are the most important components of compressed air systems.

The main requirement for air compressor and dryer systems is the need for highly compressed air in various industrial processes. The sale of compressed air filtration and dryer systems is anticipated to increase at a faster rate during the forecast period due to the quick establishment of industrial units in developing countries.

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Key Takeaways

Demand from China is expected to boost revenue in the Asia Pacific compressed air treatment equipment market, which is expected to increase at a rate of over 6% through 2027.
Because compressed air is required in a wide range of industrial applications, China’s global leadership in automobile and industrial production is having a significant impact on the whole market.
The compressed air filtration and dryer system market size in the healthcare industry is expected to exceed USD 1 billion by 2020. The market demand is being fueled by the increasing use of compressed air treatment systems in the medical compressed air sector.
The prevalence of humidity and other impurities in the process air is expected to drive a 4.5 percent CAGR in-process air from 2021 to 2027, which could have severe implications for plants.
Due to its widespread use to remove or reduce the amount of water from compressed air, compressed air dryers are expected to account for roughly 35 percent of the compressed air filtration and dryer system market share in 2027.

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Key Segments

By Product Type:

Compressed Air Dryers
- Refrigeration Dryers
- Desiccant or Adsorption Dryers
- Deliquescent Dryers
- Membrane Dryers
Compressed Air Filters
- Particulate Filters
- Coalescing Filters
- Compressed Intake Filters
- Activated Carbon filters

By Industry:

Automotive
Oil & Gas
Chemicals
Food & Beverages
Electronics
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

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Intrabound Medical Tourism Market is Anticipated to Reach US$ 8.7 Bn in 2022 | FMI

The global intrabound medical tourism market is projected to reach a valuation of US$ 8.7 Bn in 2022 and US$ 57.6 Bn in 2032. Sales are projected to increase at an 823.6% CAGR.   Patients who travel abroad for medical procedures or operations that are frequently expensive or not easily available in their native place of residence are said to be engaging in medical tourism.

Medical tourism, whereby patients travel to a different state or country for the enhancement or restoration of their health, is a worldwide, multibillion-dollar industry

The cost of a high-quality therapy is lower in developing nations like Thailand and Malaysia than it is in industrialised nations. Despite the cheap cost of treatments in underdeveloped nations, the quality of the process is not affected because there are resources available for comparatively less money. This causes an inflow of individuals to use the healthcare systems within the country.

Reduced airfare, growing earnings in developing nations, and an increase in demand for high-quality healthcare in these nations are some of the significant factors that have helped the intrabound medical tourism industry grow. This will benefit the businesses operating in the region and help the government achieve its objective of developing the medical tourism sector.

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Key Takeaways:

Since the outbreak, there has been a major growth in online reservations, and customers have flocked to these channels, making them the most popular.
The age group between 46 and 55 is most likely to go for medical tourism treatments for joint disorders.
Therapeutic services are particularly popular among medical tourists who visit within France because of the country’s well-developed infrastructure for physical and mental rehabilitation. The industry is expected to expand fast during the forecast period.
The high cost of healthcare in other countries is the main factor driving market development.

“As health insurers and customers start to use cost and performance data to take advantage of regional differences in price, quality, customer happiness, and waiting times, the intrabound medical tourism business is anticipated to grow.” – Says an FMI analyst.

Impact of COVID-19 on the France Medical Tourism Market

Covid-19 had both positive and negative impacts on intrabound medical tourism. The medical tourism business worldwide experienced a setback as a result of the Covid-19 outbreak. Intrabound Medical Tourism market fell by 83% during the pandemic period. The global travel bans’ rigorous travel restrictions and health-related safety worries were the main causes of this. The sheer absence of demand caused the sector to suspend operating altogether for a year.

With the increased global knowledge of healthcare, the business is predicted to prosper after the epidemic. Additionally, there is a probability that vaccination tourism may be pushed, increasing the likelihood that the businesses will grow.

Who is winning?

Offering all-inclusive packages to VIP clients is one way that top firms in the global intrabound medical tourism sector are seeking to boost their earnings. They are focused on bringing new healthcare facilities under its umbrella in addition to working to strengthen their current presence.

Major players present in the France Medical Tourism Market The Hernia Institute Paris, Medifrance Solution, France Medical Access, Dr. Parisescu., FAME Santé, Ribau & Garner, France Surgery, Medical Concierge France, SAM Medical France, Sonio,Ludocare, Charles.co, Axomove, Dynveo, MEDTECH , SILVER ECONOMY, Groupe Médical Santé, DIXI medical,Int’Air Medical,PrimaX Imagerie Médicale are among others.

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Get More Valuable Insights 

Future Market Insights, in its new offering, provides an unbiased analysis of the FRANCE Medical Tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the FRANCE Medical Tourism market based on the Treatment Type (Dental Treatment, Cosmetic Treatment, Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment, and Others), By Services (Wellness Services & Therapeutic Services), By Tourist Type (Domestic & International), By Tour Type (Independent Traveler, Tour Group and Package Traveler), By Consumer Orientation (Men, Women, and Children), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 66-75 Years), By Booking Channel (Phone Booking, Online Booking, In Person Booking) & Region

About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Film Tourism Market – North America and Asia Pacific Regions Hold a Market Share of ~32.6% and ~35% Respectively

The film tourism market is poised to reach a valuation of US$ 66.7 Bn in 2022. Sales are projected to increase at a 6.8% CAGR, with the market size reaching US$ 128.78 Bn by 2032.

These factors along with multiple other nudges have helped the film tourism market gain mainstream popularity and a highly lucrative market. The rise of film tours across the world to locations where the films have been shot, the production sets, film festivals, etc. have helped the firms increase their service offerings.

The film tourism market is forecasted to grow at a consistent growth rate during the forecast period. This is majorly attributed to the growing popularity of global content and the trend of cultural integration. The parent market for Film Tourism I.e. Cultural Tourism has been on an upward growth for a long time due to globalization.

The introduction of streaming services and increasing penetration of internet connectivity across the world has also helped immensely in making the different content globally famous.

This along with the low cost of international travel and ease of availing accommodations has also made a significant impact on the growth of the film tourism sector. Untapped tourist locations get the limelight from the international broadcast of the films, documentaries, or shows filmed there.

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Film locations and sets can be visited round the year making the film tourism sector consistent and safe from the seasonal aspects that other tourism markets suffer. This along with the ease of providing such tours has made the film tourism sector an easy market for new firms to enter.

Key Takeaways from the Film Tourism Market Study:

The North America and Asia Pacific regions hold a market share of ~32.6% and ~35% respectively.
The Covid-19 pandemic had a 45% impact on the value of the film tourism sector.
New Zealand, the USA, France, India, Japan, the UK, and Ireland are some of the most popular destinations for film tourism.
Film sets and theme parks are the most popular location types in the film tourism market.
Online booking channels lead the charts in film tourism market booking channel segmentation.

“Customer satisfaction and a wide number of product offerings will be the key to grabbing the market leadership.” – FMI Analyst said.

Impact of COVID-19

The COVID-19 pandemic impacted the film tourism market negatively. The spread of the virus put a halt to travel around the globe; authorities around the globe implemented a lockdown that led to restriction of movement for anything that was not essential, this included tourism as well. The film tourism sector was left in a dire situation due to all these factors. Firms in the market devoted this time to rethinking their strategies and coming up with better services once the pandemic slowed down.

Post the slowdown of the pandemic the film tourism sector saw a resurgence in tour activities. Consumer demand slowly picked up, and then surged after the restrictions were fully lifted. The pent-up demand for travel saw the firms getting a lot of consumers immediately, improving the state of the market and setting it on a track of growth.

Who is winning?

By providing all-inclusive packages and sparing travelers from the trouble of navigating several channels for their excursions, the major players are able to keep their competitive advantage in the market. Government investments and initiatives are stimulating the market, and they have also assisted businesses in enhancing their service offerings.

The key players in the film tourism market are IIFTC, MP Tourism, Tourism Film Destinations, Scallywag Travel, and Onlocationtours.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global film tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the film tourism market based on Location Type (Film Sets, Destinations, and Film Festivals), By Booking Channel (Online Travel Agents, Traditional Agents, and Direct Booking), By Tourist Type (Domestic and International), By Tour Type (Independent Traveler, Package Traveler, and Tour Group), By Consumer Orientation (Men and Women), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, and 66- 75 Years) & Region – Forecast to 2017 – 2032.

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U.S. Industrial PC Market Is Poised To Exhibit Robust Growth During The Forecast Period 2022-2032 | Get Insights FMI

The industrial PC market size was worth US$ 5 billion in 2021 and is expected to reach US$ 9.4 billion by 2032, increasing at a CAGR of 6% over the forecast period as indicated by the industrial PC market report by FMI.

The U.S. industrial PC market is anticipated to grow strongly over the course of the forecast period due to rising adoption of cutting-edge technologies like augmented reality (AR) and the internet of things (IoT), as well as a booming manufacturing sector.

According to FMI, China’s industrial PC market is anticipated to expand at the highest CAGR during the forecast period due to the country’s rapid adoption of automation in the manufacturing sector, favourable government policies, rising demand for cutting-edge products like the Advantech industrial PC, and a sizable industry-leading manufacturer base.

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Industrial PC manufacturers are aggressively leveraging the Industrial Internet of Things (IIoT) across multiple industries to maximise resources and prices, thereby opening up numerous industrial PC market opportunities. By utilising industrial PCs for data collection and management across a vast network of intelligent devices, they are able to automate manufacturing operations and generate a large volume of manufacturing data.

IPCs are primarily used in electronics and semiconductors, aerospace and military, and automotive manufacturing as more emphasis is placed on automation and IoT. Overall, the industrial PC market is expected to be worth US$ 6 billion by 2026.

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Key Takeaways

The manufacturing operations of many industries, including semiconductor, consumer electronics, and automotive, are predicted to grow dramatically in the APAC area.
In the year 2021, the industrial PC market size in the United States was worth US$ 1.1 billion.
China, the world’s second-largest economy, is expected to reach a market capitalization of US$ 901.7 million by 2026, representing a 6.5 per cent CAGR over the study period as per the emerging trends in the industrial PC market.
Japan and Canada are two other critical geographic markets, with forecasted growth rates of 3.5 per cent and 3.9 per cent, respectively, over the analysis period.
Over the projection period, the Semiconductor & Electronics segment is expected to increase at a rapid pace.

“Manufacturing companies witness a high demand for industrial IoT as the manufacturing sector steadily moves toward digitalization with increased awareness of resource optimization in manufacturing firms, and robust regulatory necessities to safeguard protection and reliability in production plants are all driving market growth.”—opines a FMI analyst.

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Key Segments

By Type:

Panel IPC
Rack Mount IPC
Box IPC
Embedded IPC
DIN Rail IPC

By Sales Channel:

Direct Sales
Indirect Sales

By End-use Industry:

Process Industries
Discrete Industries

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

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Smart Pill Technologies Market Segmentation Application, Technology & Analysis Research Report To 2032

The Global Smart Pill Technologies market study provides critical information related to the global, regional and top players including Smart Pill Technologies market share analysis, winning strategies, recent developments, and financial planning. Besides providing information regarding the key players in the Smart Pill Technologies market, the study also recalibrates, the impact of macroeconomic and microeconomic factors that has the potential to impact the growth of the Smart Pill Technologies market.

Over the past decade, healthcare sector has been expanding remarkably, following the advent of artificial Intelligence and the Internet of Things integrated medical devices. Advancement in technology has created impressive scope within the medical sector for diagnostics and therapeutics.

The report firstly introduced Smart Pill Technologies basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and Smart Pill Technologies market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

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Understanding the Impact of Covid-19 on Healthcare Industry

With the pandemic plaguing maximum countries across the globe, healthcare industry is witnessing its fair share of ‘ups and downs’. The COVID-19 has placed an enormous strain on the healthcare sector’s workforce, facilities and infrastructure. Despite the endless pressure, healthcare sector is growing at a moderate pace due to the improvement in infrastructure and advancement in technology, healthcare sector is delivering a healthy performance.

The FMI’s latest report on the Smart Pill Technologies market gives a detailed analysis on the impact of COVID-19 with an incisive coverage on the innovative strategies adopted by the market players to survive the challenges due to pandemic.

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.

Competitive Analysis

By Prominent Market Players

CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, and Bio-Images Research Limited, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., Novartis AG, and Philips Healthcare.

With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Smart Pill Technologies market

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Smart Pill Technologies Market: Segmentation

Based on application, the global smart pill technologies market is segmented into the following:

Capsule Endoscopy
Small Bowel Video Capsule Endoscopy
Colon Capsule Endoscopy
OMOM Capsule Endoscopy Platform
Small Bowel Capsule Endoscopy
Controllable Capsule Endoscopy
Storable Capsule Endoscope
Colon Capsule Endoscope
pH Capsule Wireless Monitoring System
Impedance-pH Monitoring System
MiroCam
Upgraded MiroCam and Advanced Capsule Endoscope
The ANKON MCE System
CapsoCam
Drug Delivery
Patient monitoring of cancer

Based on disease indication, the global smart pill technologies market is segmented into the following:

Occult GI Bleeding
Crohn’s Disease
Small Bowel Tumors
Celiac Disease
Inherited Polyposis Syndromes

Why Future Market Insights?

Comprehensive analysis on evolving purchase pattern across different geographies
Detailed insights of market segments and sub-segments for historical as well as forecast period
A competitive analysis of prominent players and emerging players in the Smart Pill Technologies market
Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Vacation Ownership Market is Expected to Expand at US$ 11.2 Bn in 2022 | FMI

The Vacation Ownership market is expected at US$ 11.2 Billion in 2022 and is projected to reach US$ 32 Billion by 2032, at a CAGR of 7.30 % from 2022 to 2032.

In the forecast period, there will be fast progress and a greater push for the Vacation Ownership market. Vacation ownership also known as timeshare, offers the opportunity to share the ownership of vacation accommodation generally resorts or cooperatives in popular domestic or international tourist destinations.

The vacation accommodation is shared by several owners, each of them has a time period to hold the right to use in a year. Owners may reserve a specific resort apartment or the entire resort for a predetermined amount of time.

The most lucrative industry is timeshare lodging since the owner has exclusive use of the property for a set period of time, usually a few weeks during a particular season. Major international hotels have also entered this market and are creating a wide variety of options in various locations to take advantage of the rising popularity of timeshare accommodations.

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Key takeaways

The vacation ownership market will be rising due to the fast-growing urbanization and economic growth are some of the reasons.
Based on the tour type, the point-based vacation ownership will remain high over the forecast period due to flexibility in decision making and the availability of greater benefits.
In terms of tour type, the package travelers are estimated to account for the relatively highest value share in the Global incentive tourism market.
By booking channel, the online booking section is expected to hold a major share in the market because it is more convenient and flexible for everyone.
Companies and travelers prefer online booking rather than opting for personal booking as online booking is feasible and even the tour operators give discounts on booking online.
In terms of a tourist type, the package travelers are estimated to account for the relatively highest value share in the Global incentive tourism market
In terms of age group, demand in the 26-35 segment will continue fast traction through 2032.

“Global Vacation Ownership market will rise in the forecast period as the number of companies providing timeshare is rising.” – FMI Analyst said.

Impact of COVID-19 on Vacation Ownership Market

The COVID-19 outbreak has affected economies and trades in various countries due to lockdowns restrictions, travel bans, and business shutdowns. The overall global marketplace breakdown due to COVID-19 is also affecting the growth of the market due to the shutting down of factories, obstacles in the supply chain, and the decline in the world economy.

The vacation ownership market has incorporated emergency health care measures and restrictions enforced on social movements around the world. Beaches and resorts are empty, people’s movements are stopped, and traveling between territories is strictly controlled. The COVID-19 lockdown around the world has imposed a negative impact on the livelihood of people and the world economy as well.

Who is winning?

Leading players in the Vacation Ownership Market are focusing on promotional strategies and advertising popular tourist destinations in various regions to improve sales in the market.

Major players present in the Vacation Ownership Market are Wyndham, Marriott Vacations Worldwide, Hilton Grand Vacations, Hyatt, Diamond Resorts, Bluegreen Vacations, and Disney Vacation Club.

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Vacation Ownership Market by Category

By Type, Vacation Ownership Market is segmented as:

Fixed week
Floating week
Points-based system.

By Tour Type, Vacation Ownership Market is segmented as:

Domestic
International

By Tourist Type, Vacation Ownership Market is segmented as:

Independent Traveler
Tour Group
Package Traveler

By Booking Channel, Vacation Ownership Market is segmented as:

Phone Booking
Online Booking
In-Person Booking

By Consumer Orientation, Vacation Ownership Market is segmented as:

Men
Women
Children

By Age Group, Vacation Ownership Market is segmented as:

15-25 years
26-35 Years
36-45 Years
46-55 Years

By Region, Vacation Ownership Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Africa Adventure Tourism Market is Estimated to Expand at 8.3% CAGR in 2032 | FMI

The Africa adventure tourism market is estimated at US$ 112.2 Mn in 2022 and is projected to reach US$ 130.1 Mn in 2032. By 2032, at a CAGR of 8.3% from 2022 to 2032.

According to the World Tourism Organization, Africa is the region with the second-fastest growth in terms of tourism after South East Asia. Tourists that are passionate about travel and adventure should partake in adventure tourism. It is intended for people who desire to enrich their lives with fresh experiences. Adventure tourism is resilient, draws high-value clients, helps local economies, and promotes environmentally friendly behaviour.

Despite being a small market, it is becoming more and more popular worldwide. Africa is a comprehensive travel destination for all types of tourism, notably adventure tourism, due to the abundance of natural resources.

Africa is a vast and scenic continent, from lush rainforests to towering desert sands, snow-capped mountains, wild coastal cliffs, tranquil white sands and turquoise waters. Africa is home to the most diverse wildlife on the planet and a rich variety of cultures and traditions. There are many unparalleled adventures on this unique continent, so I’ll briefly summarize them here.

Snorkel, water Rafting, Hot air balloon flight, Gorilla trekking, Swim with whale sharks, dunes, these are the some of the adventure tourism activities in Africa.

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Key Takeaways:

Land based activists rea mainly preferred and more prominent in adventure tourism Africa.
Africa is a vast continent with the most diverse countries in the world filled with lush local forests and stunning beaches.
Lack of infrastructure development around many adventure destinations in Africa will restrain the African adventure tourism market.
Growing interest in adventure sports, rise in disposable incomes, and affordable travel packages are anticipated to support market expansion.
In terms of traveller type, the family segment is estimated to account for the relatively highest value share in the African adventure tourism market
Middle-aged people that are 20-30 age group segment will continue to hold the highest share in traveling in the forecast.

Impact of COVID-19 on the Market

The COVID-19 epidemic had a significant influence on the tourism sector in 2020 as a result of the virus’s lockdown restrictions.

As the virus spread across the world, it caused an immediate reaction of borders being shut, transport stood cancelled, The COVID-19 pandemic had an undesirable impact on the global adventure travel market growth in 2020. As per the World Travel and Tourism Council (WTTC), the number of adventure travellers has drastically declined due to the global lockdown and travel limitations. However, the global market will grow at a significant rate post the COVID-19 outbreak as market leaders are opting new strategies for safer travels. COVID-19 has created an unprecedented crisis for the tourism industry in Africa and around the world, crushing the supporting food, service, and manufacturing sectors that depend on tourism for employment and incomes.

Furthermore, the closing of public places and tourism activities as a result of the pandemic resulted in the market’s complete collapse during the crisis border closures, airport closures, and hotel closures, as well as restrictions on large gatherings, and land travel, and related services.

Who is winning?

Leading companies in Africa adventure tourism are focused on promotional strategies, advertising popular tourist destinations in Africa, and new offers with a variety of package that attracts consumers that have driven sales growth of adventure tourism in Africa.

Major players present in the Philippines sustainable tourism market are Africa Adventure Company, Africa Safari & Adventure Tours, Africa Travel Co, Go Explore Safaris & Tours, Nomad Africa Adventure Tours, Africa Adventure Vacations, Pamoja Tours & Travels.

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Future Market Insights, in its new offering, provides an unbiased analysis of the South Korea Tourism spend analytics forecast, noting historical demand data (2017-2021) and forecast statistics for the period from 2022-to 2032. The study divulges compelling insights on the Philippine sustainable tourism market based by Type – (Hard Adventure, Soft Adventure) By Activity Type – (Land-based Activity, Water-based Activity, Air-based Activity) By traveller type – (Solo, Friends/Group, Couple, Family) By Age Group – (Below 30 Years, 30–41 Years,42–49 Years,50 Years and Above) By Consumer Orientation – (Men, Women, Children) & Region.

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Electrical Digital Twin Market: Top trends driving the industry to reach US$ 3.13 Bn by 2032: FMI

As per a new market research report on the electrical digital twin market published by Future Market Insights, the sales of electrical digital twin will advance at a CAGR of 12 % from US$ 0.9 billion in 2021 to US$ 3.13 billion in 2032.

Demand for electrical digital twin is being driven by the increased acceptance of innovative technologies such as IoT and cloud for digital twin applications, as well as attractive digital twin prospects in industries such as aerospace and defence, healthcare, automotive, and transportation.

This factor is motivating many businesses to adopt digital twin software, and it is expected to propel the industry forward in the coming years.

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The digital twin is used in a variety of industries, such as automotive, construction, and manufacturing. Furthermore, firms in these industry verticals are constantly leveraging digital twin systems and technologies to evaluate the performance of physical assets and identify where changes and enhancements are required to achieve positive outcomes.

Digital twin technologies are being increasingly adopted in various industries, including automotive, manufacturing, energy & utilities, and others, and this is expected to fuel market expansion in the coming years. In addition, the growing adoption of electrical digital twin technology by researchers and medical practitioners to create novel platforms that can enhance care delivery through better patient monitoring is projected to boost the market growth in the following years during the coronavirus crisis era.

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Adoption of electrical digital twin necessitates significant investments, collaboration, and long-term willingness on the operator’s part. To maintain a digital twin, operators must develop the necessary technology infrastructure, such as robust IoT deployments and simulation platforms, and integrate data sources from various departments and IoT contextual systems. The extensive use of components of electrical digital twin by diverse stakeholders in the power sector is hampered by these considerations.

Due to a shortage of experienced workers, significant initial investments are necessary for installation and significant maintenance costs, and this factor is restricting the market’s growth in the predicted years.

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Key Takeaways

The increase in spending for the implementation of advanced digital technology to modernize old power generating and distribution infrastructure is propelling the development of the North American electrical digital twin market share.
The system digital twin type sub-segment accounted for the bulk of the worldwide customer base of all thecomponents of digital twin and is expected to maintain its dominance during the forecast period. This dominance is mainly due to the widespread use of system digital twin by various industries, including automotive, manufacturing, oil & gas, energy & utilities, and other verticals, to uncover new revenue-generating potential by lowering costs and improving customer service.
Owing to cloud-based solutions offer numerous benefits, such as scalability, flexibility, cost-effectiveness, and low energy consumption, their adoption rate is growing at a remarkable pace across organizations. The cloud sector of the electrical digital twin market size is anticipated to advance at a healthy CAGR during the forecast period.
The primary electrical digital twin categories in the industry are digital gas and steam power plants, digital grid, wind farm, hydropower plants, and distributed energy resources.

“Increasing R&D efforts and technical advances are two significant market trends driving the expansion of the electrical digital twin business.”

Competitive Landscape

As per the global market study on the electrical digital twin market, the increase in investments for the implementation of advanced digital technology to modernize old power generating and distribution facilities is propelling the development of the North American market. In addition, improved R&D in the fields of cloud, big data analytics, IoT, and IIoT and rising demand for optimal and cost-effective innovations to enhance asset performance and optimize corporate operations are all contributing to regional market expansion.

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Mobility Aids And Transportation Equipment Market: Creating Opportunity, Demands & Supply, Value Chain & Process- 2022-2032

As per comprehensive research conducted by ESOMAR-certified consulting firm FMI, the global Mobility Aids And Transportation Equipment market is projected to witness robust growth during the forecast year 2015-2025. The report emphasizes on providing key insights into diverse features including demand, product developments, revenue generation, and sales in the Mobility Aids And Transportation Equipment market.

The study offers a detailed analysis of dynamics including driver, restraints, opportunities, and challenges, and also highlights their consequent impact on the market.

Advent of Telehealth and Virtual Care to Create Tailwind for the Mobility Aids And Transportation Equipment Market Growth

Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.

During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.

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Since the outbreak, telehealth have gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Mobility Aids And Transportation Equipment market.

Key Mobility Aids And Transportation Equipment Market Takeaways and Projections

The U.S. is estimated to continue dominating the North America market, projecting fastest growth in the region through 2031.
Germany Mobility Aids And Transportation Equipment market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2021 and 2031.
China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.

Report Benefits & Key Questions Answered

Mobility Aids And Transportation Equipment Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Mobility Aids And Transportation Equipment market. It also studies the impact of these dynamics on the market for the previous assessment period 2016-2020 to forecast the scope of market growth over the coming forecast period 2021-2031.
Mobility Aids And Transportation Equipment Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Mobility Aids And Transportation Equipment market. As per the survey, Mobility Aids And Transportation Equipment sales will project steady growth over the forecast period.
XZY Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Mobility Aids And Transportation Equipment market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.

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Mobility Aids And Transportation Equipment Category & Segment Level Analysis: FMI’s category & segment level analysis provides insights into key factors affecting the market growth across various segments in terms of (segment 1), (segment 2), and (segment 3). It also uncovers critical opportunities across each segment to assist key players to capitalize on the,
Mobility Aids And Transportation Equipment Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.

Competitive Landscape Analysis

The latest study conducted by FMI provides in-depth insights into the global Mobility Aids And Transportation Equipment market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Mobility Aids And Transportation Equipment market.

Some of the prominent market players are profiled by FMI

Sunrise Medical LLC,
Invacare Corporation,
OttoBock Healthcare GmbH,
Stryker Corporation,
Medline Industries,
GF Health Products Inc.,
Hoveround Corporation,
LEVO AG,
Permobil AB,
Merivaara Corporation, and others.

Mobility aids and transportation equipment global market is segmented into following types:

Manual Wheelchairs
Manually Operated Wheelchairs
Standard Manual Wheelchairs
Pediatric Wheelchairs
Electrically Powered Wheelchairs
Stretchers
Manual Stretchers
Automated Stretchers
Walking Aids
Crutches
Walkers
Walker Cane Hybrids
Gait Trainers
Mobility Scooters
Stair Lifts

Region

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

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Commercial Booster Pumps Are Estimated To Increase At 8.1% CAGR | FMI

Sales revenue of the global commercial booster pumps market stands at US$ 5.41 Bn at present, and is predicted to reach a valuation of US$ 10.06 Bn by the end of 2030. Over the 2022 to 2030 forecast period, worldwide shipments of commercial booster pumps are estimated to increase at 8.1% CAGR.

According to the report, the market will be worth US $4.7 billion in 2020. In addition, a CAGR of 7.8% is anticipated between 2020 and 2030. The rising demand for corrosion-resistant pumps along with smart monitoring and controlling are creating lucrative prospects for the market’s growth.

The report offers a comprehensive market overview, offering insights into the prevalent factors. Some of the key takeaways from the report are highlighted below.

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Key Takeaways from the global commercial booster pumps market study:

Commercial booster pumps are dominating traditional pumping systems owing to its features of live monitoring and controlling, easy installation, and vibration-free operations.
Customized booster pumps having increased efficiency are attracting end-use industries such as aerospace, mining, and food processing
Both East Asia and Europe have emerged as lucrative markets for commercial booster pumps. In South Asia, the market will witness high demand from countries such as India and Thailand owing to the increasing investments made by the governments towards the development of water infrastructure
Growing applications in end use industries has created a significant demand for customized booster pumps as per the specific use in the industry. Fewer moving parts, no valves or seals are some of customizations preferred across industries

“The increasing demand for water has led to a positive development in different water technologies which have made the commercial booster pumps industry competitive. Consumers are also looking for corrosion and chemical-resistant pumps for application across various end-use industries. Hence, booster pumps are gaining traction across various end use industries and are creating positive prospects for the market growth.” says FMI analyst.

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Covid-19 impact analysis:

The ongoing pandemic has put a dent in the global economy causing many economic activities to come to a halt. This has also caused a significant plunge in the commercial booster pumps market growth. Many challenges are encountered in the areas of the supply chain, communication, imports and exports, tariffs, and currency fluctuations.

These challenges have created an unstable economic environment and a negative impact on the growth of the booster commercial pumps market. However, as the economic activities are slowing resuming, the commercial booster pump market is also expected to witness a sharp recovery.

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Commercial booster pumps market competitive landscape:

The Commercial Booster Pumps Market is moderately consolidated, in which the leading players account for more than one third of the market share. The penetration of small regional players will make this market more competitive in the forecast period. Some of the key players in the market are Grundfos, Xylem Inc., KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., WILO SE, Gorman Rupp Pump Company, Torishima Pump Mfg. Co., Ltd. among others. These players have higher shares in the global market, and have longstanding relationships with a number of leading end users, giving them an upper hand among their peers.

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