Market Research Blog – Page 1041 – New Product Development

Voice Picking SolutionVoice Picking Solution Market Size, Share, Trends, Industry Analysis: Research Methodology from 2023 to 2033

The voice-picking solution market is predicted to grow steadily at a rate of 13.5% and is estimated to be worth US$ 2.9 billion by the year 2023. Looking ahead, it is anticipated that by 2033, the voice-picking solution market will expand even further, reaching an impressive value of US$ 10.5 billion.

Due to the growing usage of voice-picking solutions to improve worker productivity and warehouse efficiency, the market for voice-picking solutions is predicted to grow. Warehouses play various roles, supporting the voice in selecting the solution market’s main trends and possibilities in various business sectors.

The demand for voice-picking solutions is increasing due to two main factors: growing consumer usage and the rise of decentralized warehouses in busy operational settings.

The global voice coordinated warehousing innovation is encountering widespread acceptance in essentially all industry verticals, as would be expected to be the primary factor driving the market development for voice-picking headsets. The voice-picking headsets market is expected to grow at a double-digit rate in the not-too-distant future.

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Voice-picking headsets track down the wide application in distribution centers, where laborers need to satisfy the sets of clients and subsequently, need to pick things from the right retires and pack them likewise. As enormous creation units, consistently need to store their produced merchandise such that they are effectively open to their laborers, these distribution centers deal with a difficult issue in putting away products.

The appearance of voice-coordinated warehousing has made this simple as now the specialists just have to put on the headsets and the focal PC guides them to the appropriate rack any place the merchandise is put. In this manner, innovation kills the need to fret over the capacity of products and the time squandered in looking for a specific thing.

Voice-picking solutions make it much more straightforward for laborers to satisfy the necessities of their clients in this way improving their efficiency and is supposed to confront wide reception in not so distant future.

Global Voice Picking Headsets Market: Market Dynamics

Increasing number of stock keeping units, integration of new technologies such as big data analytics, cloud technology and the numerous benefits provided by voice picking technology are the major factors driving the growth of the market. New technologies such as big data analytics can help automate the warehouse data collection and by applying analytics, quicken the processing of data.

Also, cloud storage helps to store large amounts of data easily on the cloud and also highly increases flexibility, as the data can be accessed from any location. In addition to this, with the deployment of voice-picking solutions productivity is greatly enhanced and the same worker can fulfill many more orders than before.

Also, it has been found that there is a sharp increase in accuracy to 99.7%, after the implementation of voice-directed solutions. So, with the increasing population, as the number of warehouses and stock-keeping units increases, the market for voice-picking headsets is anticipated to increase exponentially during the forecast period.

However, budget constraints, high costs involved and lack of awareness are the primary reasons that can thwart the growth of the picking Headsets market.

Global Voice Picking Headsets Market: Regional Outlook

Regionally, the global Voice Picking Headsets market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.

North America is the largest contributor to the Voice Picking Headsets market owing to high use of high focus on Research and Development (R&D) and integration of the latest technologies in various devices. Asia Pacific is however anticipated to witness highest CAGR owing to increasing number of manufacturing industries in the region. North America, followed by Europe, is the second largest contributor to the market and is expected to witness a moderate CAGR in the near future.

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, applications, and industries.

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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.

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Touch Controller IC Market: Emerging Trends and Growth Prospects – Future Market Insights

According to forecasts, the touch controller IC market is expected to be valued at US$ 1,243.3 million in 2023 and US$ 4,297.3 million by 2033.

A key factor boosting the market share of touch controller ICs is increased sales of electronic gadgets. The market is expanding faster owing to the rising demand for capacitive touch panels, which are controller displays that predominantly use conductive human finger contact or specialized devices for input into smartphones and tablets.

Multi-touch technology for consumer electronics, such as touch pens and stylus devices, is the main emphasis of market providers. Consequently, throughout the projected period, the worldwide touch controller ICs market is likely to grow due to increased demand for such usable smart electronics.

Several national and international suppliers are present in the industry, but North American firms like Synaptic, Cypress Semiconductors, and Microchip Technology have dominated it. Nonetheless, the increase in participants from the APAC area has further heightened the level of competitiveness.

Consumer electronics makers encourage users to test this technology by introducing flexible screens. The demand for flexible displays is projected to benefit the growth of touch controller ICs since they are installed in high-end devices with sophisticated features and are compatible with all types of electronic devices.

Key Takeaways

By 2033, the touch controller IC market in the United Kingdom is likely to expand, with a CAGR of 4.3%.
In 2022, the United States developed the touch controller IC business with a share of 16.9%.
The touch controller IC market grew considerably to US$ 1,213.3 million in 2022.
The touch controller IC sector expanded at a CAGR of 10.2% from 2018 to 2022.
By 2033, China’s touch controller IC market is projected to develop with a CAGR of 5.8%.
By 2033, India’s touch controller IC industry is projected to develop with a CAGR of 7.1%.
Japan’s touch controller IC industry expanded significantly, with a 4.4% share in 2022.
Australia’s touch controller IC sector grew with a share of 2.8% in 2022.
In 2022, the capacity screen touch segment dominated the market, with a share of 67.6%, based on technology.

Competitors Winning Strategies

Cypress, Melfas Inc., Atmel Corp., Synaptics, Image Technology Inc., and Zinitix Co., Ltd. are key competitors in the worldwide touch controller IC sector. Businesses are putting their efforts into research and development to create touch controller IC with more cutting-edge technology. Companies have also been heavily involved in strategic partnerships, mergers and acquisitions, developing new products, and collaborations to increase their market share and attract new customers.

Recent Developments:

A 2017 start-up company named UltraSense Systems Inc. (San Jose, Calif.) has created an ultrasound-based user interface. The company developed an ultrasonic actuator/sensor attached to an enclosure’s inside surface to provide a touch user interface.
The TC3220 has been added to the lineup of eDP Timing Controller (Tcon) embedded drivers by Parade Technologies, Ltd., a well-known manufacturer of touch controller ICs. An integrated circuit called the TC3220 is made for small LCD panels.

Key Segments

By Screen Technology:

Capacitive Touch Screen
Resistive Touch Screen

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe

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Skills Management Software Market Thrives: Projected to Reach US$ 872.1 Million by 2033

The global Skills Management Software Market is set to witness substantial growth, with a projected worth of US$ 388.1 million in 2023. This industry is gaining momentum due to increased investments by organizations worldwide.

Projections indicate that by the end of 2033, the market is poised to reach an impressive US$ 872.1 million, demonstrating a robust Compound Annual Growth Rate (CAGR) of 8.4% from 2023 to 2033. Notably, between 2018 and 2022, the Skills Management Software industry exhibited steady growth at a CAGR of 6.3%.

Key Takeaways:

The Skills Management Software Market is on a robust growth trajectory, projected to reach US$ 872.1 million by 2033.
Large organizations are leveraging skills management software to enhance workforce capabilities and efficiency.
Skills Management Software empowers HR managers and employers with insights to close talent gaps and optimize staff placement.
Regional variations and category-specific trends are shaping the market’s competitive landscape.
Integration complexities, data security concerns, and resistance to change pose challenges to market growth, necessitating strategic solutions.

Drivers and Opportunities: The adoption of skills management software has gained momentum, driven primarily by large organizations seeking to analyze and enhance the capabilities of their workforce. This software serves as a powerful tool to assess employees’ strengths and weaknesses comprehensively. HR managers and employers benefit from valuable insights, enabling them to bridge talent gaps and optimize staff placement. Consequently, the utilization of Skills Management Software contributes significantly to workforce productivity and overall organizational efficiency.

Competitive Landscape – Regional Trends: The Skills Management Software Market is characterized by fierce competition on a global scale. Regional trends reveal varying dynamics in different parts of the world. Companies are vying for market dominance by offering innovative solutions tailored to regional preferences and regulatory requirements. This localized approach is key to staying competitive in this rapidly evolving sector.

Restraints: Despite its considerable potential, the Skills Management Software Market faces challenges such as integration complexities, data security concerns, and resistance to change within some organizations. Overcoming these obstacles will be crucial for sustained growth and industry maturation.

Region-wise Insights: Regional variations in the adoption of skills management software highlight the importance of understanding local needs and preferences. Market dynamics in North America, Europe, Asia-Pacific, and other regions vary significantly, influencing the strategies of industry players.

Category-wise Insights: Within the Skills Management Software Market, various categories, including cloud-based and on-premises solutions, exhibit distinct growth patterns. Understanding these category-specific dynamics is essential for market players to align their offerings with evolving customer preferences.

Key Segments

By Type:

On Premises
Cloud-Based

By Application:

Large Companies
Small and Medium-Sized Companies

By Region:

North America
Europe
APAC
MEA
Latin America

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Revenue Generation Strategies and Technological Innovations in the Telecom Billing and Revenue Management Market: Future Market Insights, Inc. Study

According to Future Market Insight, the global telecom billing and revenue management market is likely to reach US$ 40.40 billion by 2033, registering a CAGR of 9.7%. This is a considerable increase from its projected value of US$ 15.96 billion in 2023.

The global telecom industry continues to experience a rapid increase in the number of subscribers worldwide. This surge necessitates robust billing and revenue management systems capable of handling the growing volume of transactions and ensuring accurate billing for services rendered.

Telecom billing and revenue management solutions are essential tools that enable telecom companies to effectively manage the vast flow of information generated when customers use their services. As the telecom market continues to evolve and expand, with a steady increase in the customer base, the proficiency of billing and revenue management systems has become a critical aspect of success.

The role of billing and revenue management goes beyond mere financial transactions. It plays a vital role in creating value for customers and fostering customer loyalty. Telecom companies understand the significance of implementing organized business solutions and related services that cover every aspect of their operations. These comprehensive solutions enable companies to not only deliver high-quality services but also proactively detect fraudulent activities and identify revenue leakage.

Telecom operators are embracing new business models, including multi-play services, bundled offerings, and value-added services. These complex service offerings require advanced billing and revenue management solutions to handle diverse pricing plans, discounts, and promotions. By leveraging these solutions, operators can effectively monetize their services. This is likely to lead to a huge increase in the telecom billing and revenue management market revenue.

Convergence is a prevailing trend in the telecom industry, characterized by the integration of fixed-line, mobile, and broadband services. Telecom billing and revenue management solutions are pivotal in consolidating and managing billing processes across these different services. This integration enables operators to offer seamless customer experiences while streamlining revenue collection.

With the ongoing transformations in the communications, media, and cloud markets, service providers are encountering fresh challenges that necessitate new strategies. Consequently, many telecom companies are migrating their billing and revenue management systems to cloud-based platforms. 

Cloud solutions offer scalability, agility, cost-effectiveness, and easier integration with other digital systems. The shift to cloud-based architectures enables telecom providers to quickly deploy new services and reduce infrastructure costs. As a result, the telecom billing and revenue management market is poised for substantial growth over the forecast period.

The proliferation of smartphones, Internet of Things (IoT) devices, and streaming services has led to a substantial surge in data usage. As a result, telecom operators require efficient billing and revenue management systems to accurately measure, rate, and bill for data usage. Such systems ensure fair and transparent billing practices for customers.

With the deployment of 5G networks, telecom providers are witnessing new revenue opportunities. Billing and revenue management solutions must adapt to handle the complexities associated with these emerging technologies, including massive data volumes, dynamic pricing models, and real-time charging.

Key Takeaways from the Telecom Billing And Revenue Management Market

The telecom billing and revenue management industry in the United Kingdom is anticipated to rise sizably, exhibiting a CAGR of 6.4% through 2033.
The United States held an 18.2% share of the global telecom billing and revenue management industry in 2022.
With a CAGR of 12.4% over the forecast period, India is predicted to develop rapidly in the telecom billing and revenue management industry.
In 2022, Japan had a 5.4% share of the global telecom billing and revenue management industry.
China’s telecom billing and revenue management industry is expected to flourish speedily, registering a CAGR of 8.4% over the forecast period.
Germany accounted for 7.3% of the global telecom billing and revenue management industry in 2022.

Competitive Landscape in the Telecom Billing And Revenue Management Market

Key players are actively engaged in developing advanced solutions to streamline billing processes, enhance revenue management, and improve customer experience. They are investing in technologies such as artificial intelligence, machine learning, and cloud computing to offer scalable and flexible billing systems. These players are also focusing on expanding their global presence through strategic partnerships, mergers, and acquisitions to cater to the growing demand for efficient billing and revenue management solutions in the telecom industry.

Recent Developments by Key Players

In October 2021, IBM launched Next Generation Billing as a Service in collaboration with SAP on IBM Cloud for Telecommunications. The purpose is to provide a new consumption model for SAP Billing and Revenue Innovation Management to numerous communications service providers. This offering is particularly beneficial for providers who are limited by legacy systems and traditional approaches.

In October 2019, Amdocs introduced RevenueONE as their solution to modernize billing for the 5G and cloud era. RevenueONE combines the scalability and cloud-native architecture to enable the rapid deployment of new 5G services. It also provides support for existing products and offers. The robust architecture of RevenueONE enables communications service providers to handle the speed of new service launches and the diverse business models that accompany 5G.

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Key Segments Covered In Market Survey

The Telecom Billing and Revenue Management Market is segmented based on solution, telecom operator type, deployment type, and region.

By Solution:

Software
- Mediation
- Billing and Charging
- Partner and Interconnect Management
- Revenue Assurance
- Fraud Management
Services
- Professional Services
- Managed Services

By Telecom Operator Type:

Mobile Operators
Internet Service Providers
Satellite Communication Providers
Cable Network Providers

By Deployment Type:

Cloud
On-Premises

By Region:

North America
- The USA
- Canada
Asia Pacific
- China
- Japan
- South Korea
- India
Europe
- Germany
- United Kingdom
- France
- Russia
- Italy
The Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Nigeria
- Egypt
Latin America
- Mexico
- Brazil
- Argentina
- Colombia

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Network Function Virtualization Market 2022 | Present Scenario and Growth Prospects 2032

Global Network Function Virtualization (NFV) Market was valued at US$ 3.9 Bn in 2021 and is expected to reach US$ 7.8 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report telecommunication application will remain pivotal for the market as the bulk of revenue will be generated through this category.

It is projected that the market through telecommunication applications will account for a CAGR of 6% during 2022–2032. The recent surge in the transition to 5G network services is among the key attributes associated with the growth in revenue through telecommunication applications.

US to Command the Larger Proportion of Network Function Virtualization Market throughout the Analysis Period

The US commands 35.9% of the market share and is expected to retain that position intact with an absolute opportunity growth of US$ 1.3 Bn to reach a valuation of US$ 2.8 Bn by 2032. By 2023, data network traffic in the U.S. would is projected to witness an extensive surge of 294.9% to reach the value of 98.6 Mn Exabytes per month.

“The application of dual-polarized antenna segment has significant potential to emerge as a key market driver during the forecast period for the Network Function Virtualization (NFV) market.” comments an analyst at Future Market Insights.

Network Function Virtualization (NFV) Market: Competition Insights

Currently, Network Function Virtualization (NFV) manufacturers are largely aiming at adopting strategies such as mergers, acquisitions, and partnerships. They are working towards finding a balance between expanding their product portfolio and capitalizing on the growing market demand.

The key companies operating in the Network Function Virtualization (NFV) market include CommScope Holding Company Inc., Telefonaktiebolaget LM Ericsson, Comba Telecom Systems Holdings, Amphenol Corporation, Cambium Networks, Tongyu Communication Inc., Laird, Wireless Excellence Ltd., Rosenberger Group, Affirmed Networks, 6WIND, VMware Inc., A10 Networks Inc., and Allot Ltd.

The key recent developments of Network Function Virtualization (NFV) manufacturers are as follows:

In September 2021, the partnership between Comba Telecom Systems Holdings and Telecom Infra Project (TIP) was reinstated and deepened to aid Comba
Telecom’s contribution to validating Open RAN radio product offerings, coupled with the simplification and facilitation of the service providers’ procurement processes.
In November 2019, an expanded partnership was announced between Nokia Corporation and VMware Inc. for facilitating the easy and better efficient performance of large volume cloud computing operations. It is estimated that this development will benefit the network function virtualization (NFV) services sales for producing integrated solutions.
In October 2019, Novel packet-optical switches for 5G Cloud RAN were launched by Nokia Corporation with the utilization of time-sensitive networking (TSN) designs.
In October 2019, a collaboration was finalized between Telefonaktiebolaget LM Ericsson and Nvidia Corporation for aiding in its 5G radio access networks (RAN). This partnership has enabled both companies to shift their focus on the creation of technology enabling communication service operators in the establishment of virtualized 5G RANs as part of it.

Key Segments Covered In Market Survey

The Network Function Virtualization (NFV) Market is segmented based on type, polarization, diameter, frequency range, application, and region.

By Type:

Parabolic Antenna
Flat Panel Antenna
Yagi Antenna

By Polarization:

Single-polarized Antenna
Dual-polarized Antenna

By Diameter:

0.2mm to 0.9mm
1.0mm to 3.0mm
3.1mm to 4.6mm

By Frequency Range:

1.0 GHz to 0.9 GHz
10.0 GHz to 29.9 GHz
30.0 GHz to 86.0 GHz

By Application:

Telecommunication
Commercial/Industrial
Military & Defense
Satellite
Others

By Region:

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

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Semiconductor Intellectual Property Market to Reach US$ 13.10 Billion by 2033

The Semiconductor Intellectual Property Market is on a growth trajectory, driven by the increasing demand for advanced semiconductor technologies across various industries. In 2022, the market was valued at US$ 6.50 billion, and it is expected to grow to US$ 6.83 billion in 2023. Over the forecast period from 2023 to 2033, the market is projected to achieve a value of US$ 13.10 billion, reflecting a CAGR of 6.7%.

The semiconductor intellectual property (IP) market encompasses the licensing and sale of semiconductor designs and related technologies. As the semiconductor industry continues to evolve with advancements in technology and rising demand for innovative electronic devices, the need for robust semiconductor IP solutions is becoming increasingly crucial for manufacturers and developers.

Key Takeaways from Market Study

The global semiconductor intellectual property market is projected to reach US$ 13.10 billion by 2033.
The market is expected to grow at a CAGR of 6.7% from 2023 to 2033.
The current market value for 2023 is estimated at US$ 6.83 billion, indicating steady growth.
Key industries driving demand include consumer electronics, automotive, telecommunications, and healthcare.
Major players in the market include Arm Holdings, Synopsys Inc., Cadence Design Systems, Imagination Technologies, and Rambus Inc..

Drivers and Opportunities
The rise in demand for high-performance and energy-efficient semiconductor devices is a primary driver for the Semiconductor Intellectual Property Market. As industries such as automotive and telecommunications increasingly incorporate advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), and 5G, the need for specialized semiconductor IP is expected to surge.

Moreover, the growing trend of system-on-chip (SoC) designs and the increasing complexity of semiconductor manufacturing are creating significant opportunities for IP providers. Manufacturers are turning to IP licensing as a cost-effective strategy to accelerate product development and enhance competitiveness in rapidly evolving markets.

Component Insights
The semiconductor intellectual property market can be segmented into hard IP and soft IP. Hard IP refers to fixed, physical representations of designs, while soft IP encompasses synthesizable code for designing chips. Hard IP is preferred for high-performance applications due to its reliability and ease of integration, while soft IP is favored for its flexibility and adaptability in various designs.

Application Insights
The semiconductor intellectual property market finds applications across several sectors, including consumer electronics, automotive, telecommunications, aerospace and defense, and healthcare. The consumer electronics sector leads the market, driven by the demand for advanced smartphones, tablets, and wearables. The automotive industry is also a significant growth area, particularly with the rise of electric vehicles (EVs) and autonomous driving technologies that require sophisticated semiconductor solutions.

Deployment Insights
The market is characterized by various deployment models, primarily focusing on licensing and in-house development. Many companies opt for licensing semiconductor IP to expedite product development while reducing costs. Licensing provides access to cutting-edge technology without the need for extensive R&D investments, making it an attractive option for many firms.

Key Companies & Market Share Insights
The competitive landscape of the Semiconductor Intellectual Property Market features key players such as Arm Holdings, Synopsys Inc., Cadence Design Systems, Imagination Technologies, Rambus Inc., and Analog Devices. These companies are actively enhancing their offerings through innovation and strategic partnerships to capture a larger market share and meet the growing demand for advanced semiconductor solutions.

Recent Developments

Arm Holdings launched a new series of IP cores designed to optimize performance and energy efficiency for next-generation mobile devices.
Synopsys Inc. expanded its portfolio with advanced verification tools to streamline the design process for semiconductor manufacturers.
Cadence Design Systems introduced an innovative platform for SoC design, enabling faster time-to-market and enhanced design accuracy for complex semiconductor projects.

The Semiconductor Intellectual Property Market is poised for sustained growth over the next decade, driven by technological advancements, increasing demand for sophisticated electronic devices, and the need for efficient design solutions in a competitive landscape.

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Steady Growth Projection: Automotive Body in White Market Set to Reach USD 89.4 Billion by 2033, with a CAGR of 3.5% | FMI Reports

The global automotive body-in-white (BIW) market is currently valued at USD 63.5 billion and is projected to grow to USD 89.4 billion by 2033, reflecting a compound annual growth rate (CAGR) of 3.5% from 2023 to 2033.

Market growth is being driven by industrialization, globalization, and the expansion of supply chains, which are strengthening the transportation and logistics sectors. Furthermore, the increasing adoption of lightweight materials in automobiles to enhance fuel efficiency is expected to boost the automotive body-in-white market even further.

Automotive body-in-white components are engineered to provide high tensile strength and resistance to torsional, dynamic, static, and bending forces, achieved through the use of high-strength materials in their manufacturing.

However, the complexity of automotive supply chains poses a potential challenge for the market. The intricate nature of these supply chains could act as a restraint on growth in the near future.

Future Market Insights has analyzed these dynamics in its latest report, “Automotive Body in White Market.” The study utilizes a comprehensive bottom-up approach, integrating primary, secondary, and tertiary research methods, and is backed by a dedicated team of analysts and consultants.

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Key Takeaways from Automotive Body in White Market

The Asia-Pacific is expected to witness maximum growth in the automotive body in white market in the forecast period. China and India dominate the scene. Coming to production, Japan rules the roost and the scenario is expected to remain unchanged even in the forecast period. South Korea and Taiwan are the other torchbearers. China backs on low-cost materials being available. India rides on availability of cheap labor.
North America holds the largest market share with the US being subject to notable investments in manufacturing automobiles with various cutting-edge features.
Europe is led by Germany with passenger vehicles’ higher sales in combination with supporting rules for producing and using vehicles. The status quo is expected to remain unchanged even going forward.

“With transportation and logistics sector gaining traction, the global automotive body in white market is expected to grow on a robust note in the forecast period”, says an analyst from Future Market Insights.

Competitive Analysis

Kirchhoff Automotive GmbH, Benteler International, ThyssenKrupp AG, Voestalpine AG, Martinrea International Inc., Gestamp Automocion, Magna International Inc., CIE Automotive, Autokiniton Global Group, H-One Co., Ltd., JBM Auto, Dura Automotive Systems, Futaba Industrial Co., Ltd., Shiloh Industries, and Multimatic Inc. are a few of the leading businesses operating in the market.

Mercedes-Benz, in January 2021, did give a huge order to KUKA to engineer, build, assemble, and commission numerous body in white manufacturing lines for an influx of Mercedes vehicles all over North America.
ThyssenKrupp, in March 2021, came up with its business unit called ‘Automotive Body Solutions’; which emphasizes on assembly solutions with creating lightweight body components for the clients in car vertical.
Magna Cosma Casting, in April 2021, did announce that it was on the verge of spending US$ 31.9 Million for building close to 50K square feet of Battle Creek Factory for creating more manufacturing capacity regarding lightweight automobiles.
Autokiniton Global Group, in July 2019, acquired Tower International Inc.at US$ 900 Million.
Gestamp, in June 2019, did inaugurate a novel plant at Nitra (Slovakia). It specializes in aluminum. This plant is known for producing various skin panels and body’s structural parts using aluminum in conjunction with steel.
Benteler, in June 2019, tabled a novel plant at Mos (Spain). It’s, since then, a part of its automotive division and would be producing rear-axle components for a new-fangled platform for PSA. The production would also focus on painting, welding, and laser cutting.
Kirchhoff Automotive, in May 2019, came up with second plant at Piteti (Romania). The plant is known for supplying stamping parts to European Kirchhoff Automotive’s locations.
Marelli Talbros Chassis Systems, in January 2021, announced that it received multi-year orders from a big car manufacturer based out of Europe to supply body in white design parts.
NIO Inc., in April 2021, completed manufacturing the first body in white part of ET7 sedan at its production site at Hefei (Anhui Province).

What does the Report state?

The research study is based on product type (body structure (bumper beam, crossmember, roof frame, cross car beam, and likewise), body component (quarter panel, floor panel, and rocker panel), and chassis), and by vehicle type (passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs)).
Aluminum is being increasingly used for manufacturing lightweight vehicles. This factor is expected to drive the demand for aluminum in automotive body in white market in the forecast period.

Automotive Body in White Market by Category

By Product Type:

Body Structure
- Bumper Beam
- Crossmember
- Roof Frame
- Cross Car Beam
- Others
Body Component
- Quarter Panel
- Floor Panel
- Rocker Panel
Chassis

By Vehicle Type:

Passenger Vehicles
Light Commercial Vehicles (LCVs)
Heavy Commercial Vehicles (HCVs)

By Region:

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

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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Strong Growth Forecast: Cargo Bike Market Poised to Reach USD 4.2 Billion by 2033, with a CAGR of 11.6% | FMI Reports

The global cargo bike market is projected to reach USD 2.1 billion in 2023 and is expected to grow to USD 4.2 billion by 2033, representing a compound annual growth rate (CAGR) of 11.6% during the forecast period.

In the United States, demand for cargo bikes is forecasted to increase at a CAGR of 9.5% during the same timeframe. The country’s well-established e-mobility infrastructure and substantial government subsidies position it as the leading spender on electric mobility solutions in North America.

According to FMI research, the United States is a crucial market for electric cargo bikes, with strong demand anticipated to persist. The growth of this market is bolstered by increased research activities, the presence of major industry players, and rising investments in product development. These factors are creating significant opportunities for the electric cargo bike market in the U.S., solidifying its role as a key driver in the global market.

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Key Takeaways from the Cargo Bike Market Report:

The United States electric cargo bike market is expected to grow with a CAGR of 9.5% during the forecast period.
The demand for electric cargo bikes in Australia is expected to grow with a CAGR of 11.5% during the forecast period.
By battery type, the lithium-ion battery segment is projected to grow with an impressive CAGR of 12% during the forecast period.
The market in Germany is expected to grow with a significant CAGR of 11.6% throughout the forecast period.

Competitive Landscape:
The market for electric cargo bikes is highly competitive, with numerous prominent industry players making substantial investments in their production.

The key industry players are Jiangsu Xinri E-Vehicle Co. Ltd., Jinhua Jobo Technology Co., Ltd., CERO ELECTRIC CARGO BIKES, Worksman Cycles, DOUZE Factory SAS, XYZ CARGO, Butchers & Bicycles ApS, NIHOLA, Babboe, Yuba Electric Cargo Bikes, BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Carqon (Accell Group N.V.), XCYC (Gemeinnützige Werkstätten und Wohnstätten GmbH ), Riese & Müller GmbH, Urban Arrow, Rad Power Bikes Inc., Tern Bicycles (Mobility Holdings, Ltd.), Pedego Electric Bikes, Xtracycle Inc, Amsterdam Bicycle Company, Triobike.

Recent Developments:

In October 2022, French company Douze Cycles introduced a series of cargo bikes comprising four models, three of which feature electric assistance. These bikes offer an impressive hauling capacity of up to 205 kg.
In June 2022, Tern unveiled NBD, a low-step e-bike capable of supporting a maximum gross vehicle weight of 140 kg. It features a rear rack with a capacity of up to 27 kg and a front rack that can handle up to 20 kg.
DOUZE Factory SAS, a French company specializing in cargo bike design and manufacturing, revealed a collaboration with Toyota on March 8, 2023. Together, they will co-develop and launch a new lineup of electric cargo bikes.
On November 3, 2022, Yuba Bikes from California introduced their popular non-motorized ‘longtail’ bicycles. These bikes have an extended deck for carrying cargo or passengers. Yuba expanded its cargo bike range with the new Fastrack model, featuring a patent-pending integrated Dual Rack System that can be adjusted in four ways to accommodate different cargo or passengers.

Cargo Bike Market Segmentation:

By Product Type:

Two Wheeled
Three Wheeled
Four Wheeled

By Battery Type:

Lead-Based
Nickel Based
Lithium Ion

By End-Use:

Courier & Parcel Service Provider
Large Retail Supplier
Personal Transportation
Service Delivery
Waste & Municipal Services

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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.

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Electric Kick Scooter Market Projection: Anticipated to Hit USD 8,021.5 Million by 2033, Growing at a 11.5% CAGR | FMI Reports

The electric kick scooter market is expected to grow from USD 2,700.9 million in 2023 to USD 8,021.5 million by 2033, reflecting a compound annual growth rate (CAGR) of 11.5% during the forecast period.

This growth is primarily driven by the rising demand for eco-friendly transportation options, fueled by environmental concerns and the push for sustainable mobility. Supportive government policies and initiatives promoting electric kick scooters as a viable last-mile transportation solution have further accelerated market expansion.

Despite this rapid growth, the electric kick scooter industry faces several challenges. Key issues include the need for improved infrastructure, such as more charging stations and designated parking areas. Regulatory hurdles and safety concerns about integrating electric kick scooters into existing transportation systems also pose obstacles to broader adoption. Additionally, limitations in battery life and range can deter potential consumers, emphasizing the need for continued advancements in battery technology.

However, the industry also presents promising opportunities. The increasing demand for convenient and sustainable transportation solutions in urban areas worldwide creates significant potential for electric kick scooter companies. The shift toward green mobility and the growing popularity of shared mobility services open up collaboration opportunities with ride-sharing platforms, expanding consumer reach. Strategic partnerships with local authorities and urban planning organizations can also facilitate infrastructure development, fostering a more favorable environment for electric kick scooter adoption.

Notable trends in the industry include the integration of advanced GPS technology and smartphone connectivity in electric kick scooters, enhancing the user experience with real-time navigation and ride management data. Additionally, the development of lightweight and foldable electric kick scooter models caters to the demand for versatile and portable transportation solutions.

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Key Takeaways from the Electric Kick Scooter Market Report:
The electric kick scooter industry is primarily led by the popular two-wheeled variant, commanding a significant share of 67.40% in 2023. The electric kick scooter industry has seen a notable surge in the adoption of lithium-ion batteries, which held a significant market share of 71.88% in 2023. The United States electric kick scooter industry is likely to expand at a CAGR of 11.20% from 2023 to 2033. Canada’s electric kick scooter industry is anticipated to witness a CAGR of 10.50% from 2023 to 2033. Germany’s electric kick scooter industry is expected to rise at a CAGR of 10.80% from 2023 to 2033. Italy’s electric kick scooter sector is projected to expand at a CAGR of 9.50% from 2023 to 2033. France’s electric kick scooter market is anticipated to expand at a CAGR of 11.00% from 2023 to 2033. The United Kingdom’s electric kick scooter market is expected to rise at a CAGR of 10.20% from 2023 to 2033. Spain’s electric kick scooter sector is expected to witness a CAGR of 9.80% from 2023 to 2033. China’s electric kick scooter industry is expected to grow at a CAGR of 12.60% from 2023 to 2033. India’s electric kick scooter industry is projected to witness a CAGR of 9.50% from 2023 to 2033. Japan’s electric kick scooter industry is set to experience a CAGR of 11.20% from 2023 to 2033. ASEAN’s electric kick scooter industry is expected to demonstrate a CAGR of 10.20% from 2023 to 2033. ANZ’s electric kick scooter industry is poised to demonstrate a CAGR of 9.60% from 2023 to 2033.

Competitive Landscape:
The electric kick scooter industry is highly competitive, with several leading players vying for market share. The companies in the industry also operate in a variety of markets around the world. The competition in the electric kick scooter industry is constantly evolving as new companies enter the market and existing companies expand their operations.

Manufacturers constantly develop new electric kick scooter products with improved features and performance. For example, some companies are developing electric kick scooters with longer battery life, faster speeds, and more durable construction.
Companies are expanding their operations into new markets around the world. For example, many leading electric kick scooter companies are now operating in Europe, Asia, and Latin America.
Businesses are partnering and acquiring each other to expand their product offerings and geographic reach. For example, in 2021, Ford Motor Company acquired Spin, a leading electric kick scooter company.

The electric kick scooter industry is expected to remain highly competitive in the coming years. Companies will need to continue to innovate and expand their operations to succeed in this market.

Leading Key Players:

Micro Mobility Systems AG
Golabs Inc.
Bird Rides Inc.
Segway Inc.
IconBIT Limited
GOVECS AG
Razor LLC
Xiaomi Corporation
YADEA Technology Group Co. Ltd.
AKTIVO Scooter
VOI Technology
Spin
SWAGTRON
Niu International

Recent Developments in the Electric Kick Scooter Market:

VOI Technology has launched a new fleet of electric kick scooters with built-in GPS tracking and navigation systems.
Spin has launched a new line of electric kick scooters with self-balancing capabilities and improved safety features.
SWAGTRON has launched a new line of electric kick scooters with foldable designs at affordable prices.
Niu International has launched a new range of electric scooters with high-performance motors and long battery life. Niu International has expanded its operations into new markets in Europe and North America.

Electric Kick Scooter Market Segmentation:

By Product Type:

Two Wheeled
Three Wheeled

By Battery Type:

Lead-based
Nickel Based
Lithium Ion

By Price Range:

Below USD 200
USD 200 to 375
USD 375.1 to 750
USD 750.1 to 1,100
Above USD 1,100

By Wheel Size:

Less than 8 Inch
8 to 8.5 Inch
9 to 9.5 Inch
10 to 10.5 Inch
Greater than 11

By End Use:

Personal
Rental/ Sharing
Law Enforcement

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe

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.

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Future Outlook: Electric Cargo Bike Market Expected to Surpass USD 6.2 Billion by 2033, with a CAGR of 11.4% | FMI Reports

The global electric cargo bike market is expected to grow from USD 2.1 billion in 2023 to USD 6.2 billion by 2033, representing a compound annual growth rate (CAGR) of 11.4% during the forecast period.

This growth is primarily driven by the surge in e-commerce, which has intensified the demand for efficient last-mile delivery solutions. Electric cargo bikes are well-suited to tackle the challenges posed by urban environments, where congestion and limited parking can hinder the effectiveness of delivery vans and trucks. These bikes offer a quicker, more cost-effective delivery option, making them increasingly appealing as e-commerce continues to expand.

The rising demand for electric cargo bikes is also supported by substantial investments from key industry players responding to the booming e-commerce sector. For example, on November 24, 2022, Amazon announced plans to expand its electric cargo bike fleet in the United Kingdom, aiming to enhance delivery efficiency and contribute to the decarbonization of the transportation network for package deliveries.

The growing e-commerce market, coupled with the pandemic’s effects, has accelerated the need for home delivery services. As a result, businesses are investing more in improving logistics and transportation to minimize downtime, reduce costs, and enhance customer satisfaction. This increased investment is expected to further drive demand for electric cargo bikes in the coming years.

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Key Takeaways

The United States electric cargo bike market is expected to grow with a CAGR of 9.5% during the forecast period.
The demand for electric cargo bikes in Australia is expected to grow with a CAGR of 11.5% during the forecast period.
By battery type, the lithium-ion battery segment is projected to grow with an impressive CAGR of 12% during the forecast period.
The market in Germany is expected to grow with a significant CAGR of 11.6% throughout the forecast period.

“The thriving e-commerce industry and use of electric cargo bikes for fast parcel deliveries are expected to drive market growth during the forecast period,”– comments an FMI analyst.

Competitive Landscape

The market for electric cargo bike is highly competitive, with numerous prominent industry players making substantial investments in their production.

Some recent developments in the electric cargo bike market are:

In October 2022, French company Douze Cycles introduced a series of cargo bikes comprising four models, three of which feature electric assistance. These bikes offer an impressive hauling capacity of up to 205 kg.
In June 2022, Tern unveiled NBD, a low-step e-bike capable of supporting a maximum gross vehicle weight of 140 kg. It features a rear rack with a capacity of up to 27 kg and a front rack that can handle up to 20 kg.
DOUZE Factory SAS, a French company specializing in cargo bike design and manufacturing, revealed a collaboration with Toyota on March 8, 2023. Together, they will co-develop and launch a new lineup of electric cargo bikes.
On November 3, 2022, Yuba Bikes from California introduced their popular non-motorized ‘longtail’ bicycles. These bikes have an extended deck for carrying cargo or passengers. Yuba expanded their cargo bike range with the new Fastrack model, featuring a patent-pending integrated Dual Rack System that can be adjusted in four ways to accommodate different cargo or passenger.

Key Segments Profiled in the Electric Cargo Bike Industry Survey

By Product Type:

Two Wheeled
Three Wheeled
Four Wheeled

By Battery Type:

Lead-Based
Nickel Based
Lithium Ion

By End-Use:

Courier & Parcel Service Provider
Large Retail Supplier
Personal Transportation
Service Delivery
Waste & Municipal Services

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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: