Market Research Blog – Page 1050 – New Product Development

FMI Report States Global Solenoid Valve Market Size Estimated to Cross USD 6.9 Billion Milestone by 2033, Driving 4.5% CAGR Growth

According to a recent FMI study, the solenoid valve market is anticipated to reach USD 4.5 billion in 2023. The market is projected to grow at a CAGR of 4.5% from 2023 to 2033, reaching USD 6.9 billion by 2033.

Strict regulations in the food and beverage and medical industries, especially in developed countries, are propelling the demand for solenoid valves in their production process. Additionally, today’s technology-driven environment is giving momentum to automation in several industries. Since the increase in industries requiring power is rising, governments are coming forward to boost the capacity of the prevailing power plants and have sanctioned projects to build new power plants.

Surging concerns over the plants’ safety magnify the solenoid valve’s prospects. Owing to their strong magnetic field and electric current, solenoid valve makes for a great safety measure to debilitate the effect of a potential disaster.

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Key players in the market are making significant investments in research activities to expand their product lines. Locally increasing the manufacturing capacity also helps reduce the company’s operational costs. Key manufacturers are employing this business tactic to help increase their overall revenue.

Top Highlights from the FMI’s Analysis of the Solenoid Valve Market:

The United States industry is projected to reach USD 2.2 billion by 2033. From 2023 to 2033, the market is expected to record a CAGR of 3.4%.
The United Kingdom solenoid valve industry is expected to reach USD 347.2 million by 2033 end. In the coming decade, the industry is anticipated to perceive a market CAGR of 3.7%, in contrast to the 4.3% CAGR observed in the historical period.
The China solenoid valve industry is expected to expand at a CAGR of 5.4% to reach USD 595.5 million by 2033. In the historical period, the market recorded a CAGR of 6.9%.
The Japan solenoid valve industry is projected to gain USD 503.1 million by 2033. Over the forthcoming period, the market is anticipated to expand at a CAGR of 3.9%, as opposed to a 4.7% CAGR in the historical period.
The South Korea solenoid valve industry is estimated to expand at a CAGR of 4.9% compared to the 6.2% CAGR observed in the historical period. By 2033, the market is projected to reach USD 280.6 million 2033.
Based on operation, the normally open segment is projected to expand at a CAGR of 4.4% over the forecast period. In the historical period, the segment registered a CAGR of 5.2%.
Based on function, the 2-way segment is projected to represent a CAGR of 4.3% in the next ten years. In the historical period, the market registered a CAGR of 5%.

Market Update: New Developments Taking Place in the Market

Kendrion exhibited its newly developed bistable solenoid valve 63.0 in October 2022 at COMPAMED 2022. The valve regulates the rate of flow. A joined permanent magnet ensures it is de-energized in the closed or open state without permanently energizing the coil. The valve is commercially available in a 3/2- or 2/2-way version and can be tailored to meet precise requirements.
Emerson, an engineering, technology, and software firm, began operations in Mahindra World City, Chennai, in February 2022. This unit develops pneumatics and fluid control products, such as cylinders, solenoid valves, pneumatic valves and manifolds, air preparation units, etc., for Emerson’s field-proven brands ASCO, AVENTICS, TESCOM, and TopWorx.

Challenges and Considerations:

Material Selection: Choosing the right materials for solenoid valves is crucial to ensure compatibility with various fluids, pressure ratings, and operating environments.
Leakage Control: Minimizing leaks is essential to prevent product waste, environmental contamination, and system inefficiency.
Cost Optimization: Balancing the cost of solenoid valves with their performance and reliability is a key consideration for manufacturers.

Solenoid Valve Manufacturers in the Market:

Airtac
ASCO Valve Inc.
Danfoss Industries Limited
Curtiss-Wright Corporation
IMI Precision Engineering
Emerson Electric Co.
Juliang Valve
Parker Hannifin Corporation
Zhejiang Yongjiu
SMC Corporation

Solenoid Valve Market by Category:

By Type:

Direct-acting Valves
Pilot-operated Valves

By Function:

2-way
3-way
4-way
5-way

By Material:

Stainless Steel
Aluminum
Plastic
Others

By Operation:

Normally Open
Normally Closed
Universal

By Media:

Air
Gas
Water

By Industry:

Oil & Gas
Chemical & Petrochemical
F&B
Power Generation
Pharmaceuticals
Automotive
Medical
Others

By Region:

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

Author:

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

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

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

About Future Market Insights (FMI)

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

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Complexion Analysis System Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2033

The complexion analysis system market is anticipated to expand its roots at a strong CAGR of 15.7% between 2023 and 2033. The market is expected to have a market share of US$ 1,692.6 million by 2033, while it is likely to be valued at US$ 392.6 million in 2023

Skincare brands delivering custom solutions for different skin types and skin issues are pushing the end users to get their skin and complexion analyzed. Thus, the adoption of these systems has increased over time.
New companies entering the market with modern-age analysis systems are gaining traction. These systems detect wrinkles, pores, brown spots, red areas, etc. Affordable diagnostic and treatment packages are attracting people.
Government healthcare facilities extending their dermatology departments and adding new features to them are anticipated to garner market growth. The increased awareness among people regarding their skincare is an aftereffect of rising pollution.
The rising per capita income, rising skin diseases, increasing skin allergies due to food intake, and skincare influencers on social media are some random factors that drive sales from all dimensions.

Key Points

The United States market leads the complexion analysis system market in terms of market share in North America. The United States region held a market share of 17.6% in 2022. The growth in this region is attributed to higher awareness, advanced medical infrastructure, and increased per capita income. The North American region held a market share of 26.4% in 2022.
The German market is another important market in the European region. The market thrived at held a market share of 9.4% in 2022. The growth is attributed to pollution-based skincare issues, aware consumers, and leading organic skincare solution brands. The European Region held a leading market share of 19.2% in 2022.
The China complexion analysis system market thrives at a CAGR of 14.6% during the forecast period. The growth is caused by rising pollution, higher cases of skin cancer, and increased government investment in healthcare facilities.
The India market thrives at a CAGR of 17.6% between 2023 and 2033. The higher growth rate is caused by rapid urbanization and advancing skin care facilities.
Based on treatment use, the medical spa segment led the market as it held a share of 6.7% in 2022.
Based on the industry type, the medical coffee segment leads the market, as it held a market share of 67.7% in 2022.

Competitive Landscape

The key vendors focus on effective detection, covering a long list of factors. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Advanced Dermatology and Skin Care Centre has introduced its system with different layers of facial analysis that use exclusive 3D spectral imaging, targeted complexion analysis, and triple light source analysis.

Key Segments Covered

By Treatment Uses:

Skin
Wrinkles
Pores
Spots
Textures
UV Spots
Porphyrins
Skin Cancer
Body
Liposuction
Body lifts
Tummy tuck
Buttocks
Arms
Face
Facelift
Neck lift
Eyelids
Chin Augmentation
Brow lift
Ears
Double Chin Treatment
Medical Spa

By Industry:

Medical Industry
Dermatologist

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Self-checkout Systems Market for 2024 to 2034 Set for Rapid Expansion with 10.4% CAGR

The global self-checkout systems market is projected to experience significant growth over the next decade, driven by the increasing demand for faster, more convenient shopping experiences. In 2023, the market was valued at USD 3,259.6 million, and it is estimated to grow to USD 3,580.4 million by 2024. By 2034, the market is expected to reach an impressive USD 9,601.9 million, reflecting a CAGR of 10.4% during the forecast period from 2024 to 2034.

The growing adoption of automation in retail, along with evolving customer preferences for contactless and self-service solutions, has been instrumental in shaping the growth trajectory of self-checkout systems. Retailers across various sectors are investing in this technology to enhance operational efficiency, reduce labor costs, and improve the customer experience.

Key Takeaways from Market Study:

The self-checkout systems market is expected to grow at a CAGR of 10.4% from 2024 to 2034.
The market was valued at USD 3,259.6 million in 2023 and is projected to reach USD 9,601.9 million by 2034.
Increasing adoption of automation and self-service technologies in retail is driving market growth.
Contactless shopping experiences have accelerated demand for self-checkout systems.
North America holds the largest market share, followed by Europe and Asia-Pacific.

Drivers and Opportunities

Several factors are driving the rapid expansion of the self-checkout systems market. The retail industry’s growing need to improve operational efficiency is a primary driver. With self-checkout systems, retailers can reduce reliance on cashiers and streamline the checkout process, resulting in lower operational costs and increased customer throughput. Additionally, consumers are increasingly seeking contactless shopping experiences in the wake of the COVID-19 pandemic, further fueling demand for self-checkout technologies.

Furthermore, self-checkout systems enable retailers to manage fluctuating labor costs more effectively and improve customer satisfaction by reducing waiting times. With the rise of omnichannel retailing and the need for seamless integration between physical stores and e-commerce platforms, self-checkout systems offer an opportunity to bridge the gap between these two channels.

Emerging technologies such as AI-powered checkout and mobile payment integration are expected to create new growth opportunities for the self-checkout market. Retailers are also investing in advanced features such as facial recognition, cashless payments, and inventory management integration to enhance the functionality of these systems, making them more user-friendly and efficient.

Components Insights

The self-checkout systems market can be broadly categorized into hardware, software, and services. The hardware segment holds the largest share of the market due to the high demand for physical components such as scanners, payment terminals, and display units in retail environments. Retailers are continuously upgrading their existing systems with newer hardware to accommodate advanced functionalities such as biometric authentication and mobile payments.

The software segment is expected to witness strong growth as retailers seek to integrate self-checkout systems with existing point-of-sale (POS) software and inventory management solutions. The integration of machine learning algorithms to detect product weight discrepancies and prevent theft is also driving demand for advanced self-checkout software.

Meanwhile, services, including installation, maintenance, and consulting, are becoming increasingly important as retailers look for seamless implementation of these systems across their stores. The growing complexity of self-checkout technologies is likely to increase demand for specialized support services.

Application Insights

Self-checkout systems are primarily used in supermarkets, hypermarkets, department stores, and convenience stores, where reducing wait times and improving the overall shopping experience are top priorities. The supermarket segment dominates the market, accounting for the highest share, as these stores handle high transaction volumes and benefit greatly from automation.

Department stores and hypermarkets are also adopting self-checkout solutions to cater to tech-savvy consumers who prefer contactless transactions. Additionally, self-checkout systems are gaining traction in smaller retail formats, such as convenience stores and quick-service restaurants, as they offer faster checkout solutions in high-traffic environments.

Deployment Insights

Self-checkout systems can be deployed through on-premise and cloud-based models. The on-premise segment currently dominates the market, as many large retailers prefer to have direct control over their checkout systems and related hardware. However, the cloud-based segment is expected to witness significant growth due to its scalability, ease of deployment, and lower upfront costs.

With cloud-based self-checkout systems, retailers can manage multiple locations from a centralized platform, making it easier to update software, monitor performance, and troubleshoot issues. The demand for cloud-based solutions is expected to grow, especially among small and medium-sized retailers who seek to implement cost-effective systems with minimal maintenance requirements.

Key Companies & Market Share Insights

The self-checkout systems market is highly competitive, with several key players shaping its growth trajectory. Leading companies include NCR Corporation, Diebold Nixdorf, Toshiba Global Commerce Solutions, Fujitsu Limited, and ITAB Group, which offer a variety of self-checkout solutions tailored to the needs of modern retailers. NCR Corporation leads the market, leveraging its extensive expertise in retail technology to deliver innovative self-checkout solutions.

Other prominent players such as Pan-Oston, ECR Software Corporation (ECRS), and StrongPoint are also expanding their presence in the market by introducing new products with enhanced features, such as mobile integration and AI-powered capabilities.

Recent Developments

In 2023, NCR Corporation launched its next-generation self-checkout solutions, incorporating advanced AI features to reduce shrinkage and enhance customer experience.
Diebold Nixdorf expanded its product line with modular self-checkout kiosks, enabling retailers to customize their checkout processes based on store layouts and customer preferences.
Toshiba Global Commerce Solutions introduced cloud-enabled self-checkout systems to offer retailers a more flexible and scalable solution for managing their checkout operations.
ITAB Group partnered with leading retailers to pilot AI-powered self-checkout solutions, aimed at reducing human intervention and increasing efficiency in high-volume stores.

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Transparent Digital Signage Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2033

The market for transparent digital signage is expected to grow at a 14.2% annual pace from 2023 to 2033, earning revenue of US$ 19.13 billion, up from US$ 5.05 billion in 2023. The market for transparent digital signage is rapidly changing, completely changing how companies interact with their target audience.

Cutting-edge technology is opening the door to immersive and interactive experiences for viewers with visually stunning displays that blend in perfectly with their surroundings.

Transparent digital signage is changing the game in a number of sectors thanks to its ability to increase brand awareness, engage consumers, and boost sales.

One of the key driving factors behind the growth of the market for transparent digital signage is the growing deployment of transparent displays in sectors such as aerospace & defense, automotive, healthcare, and sports & entertainment.

The ability of these displays to offer real-time information while maintaining transparency allows businesses to deliver dynamic and engaging content to their target audience. As a result, the demand for transparent digital signage is surging, propelling market growth.

The technology behind transparent digital signage enables users to view the digital world while staying connected to reality simultaneously, majorly accelerating the market’s growth as businesses leverage transparent displays to captivate their audience and enhance user experiences.

While the transparent digital signage market presents immense opportunities, there are also challenges to overcome. The high costs associated with adopting the technology in consumer goods pose a barrier to its widespread adoption.

Eliminating the backlight used in traditional displays is a technical challenge that developers are working to overcome. However, with ongoing advancements and strategic partnerships, industry players are striving to develop reasonably priced products and overcome technical hurdles.

The transparent digital signage industry is undergoing a revolution in visual communication. With its ability to seamlessly blend with the surroundings and deliver captivating content, transparent digital signage is reshaping the way businesses engage with their audience.

As technology continues to advance and market players innovate, the future of transparent digital signage looks promising, with endless possibilities for enhancing brand experiences and creating memorable interactions.

Key Takeaways:

Transparent digital signage industry in the United States was forecasted to hold a 19.5% value share in 2022.
The market in the United Kingdom is predicted to advance at a growth rate of 14.1% from 2023 to 2033.
In 2022, the OLED sub-segment in the market was projected to amass a 62.3% value share based on type.
Based on end-user, the value share of the retail sub-segment in the transparent digital signage industry constituted around 43.3% in 2022.
The market for transparent digital signage in China is likely to move forward at 13.2% CAGR from 2023 to 2033.

How Intense Is the Competition in the Transparent Digital Signage Market?

The competition in the market is intense, driven by a growing number of players and technological advancements. Companies in the market are continuously striving to develop innovative solutions, improve product performance, and expand their market presence.

With the increasing demand for transparent digital signage across various industries, competition among market players has intensified.

Key factors contributing to the intensity of competition include the need for differentiation, price competitiveness, customer relationships, distribution channels, and technological expertise. As a result, market players are focusing on strategies such as product innovation, strategic partnerships, mergers and acquisitions, and effective marketing to gain a competitive edge and capture a larger market share.

The transparent digital signage industry is witnessing the emergence of both global and regional players. This intensifies the competition as companies compete not only on a global scale but also on a regional level, catering to the specific needs and preferences of different markets.

Transparent Digital Signage Market: Key Players

Shenzhen NEXNOVO Technology
ClearLED
LED-Hero Electronic Technology
Pro Display
Crystal Display Systems Ltd.
Kent Optronics Inc.
NEC Display Solutions Ltd.
Universal Display Corporation
Evoluce GmbH
Globus Infocom Ltd.

Key Segments

By Type:

LED
OLED

By End Users:

Retail
Media & Entertainment
Automobile

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Surging Automation and IoT Proliferation Across Industries to Augment Swarm Computing Market; FMI Analysts Predict Market Valuation to Surpass US$ 713,213.4 million by 2033

The global swarm computing market size is anticipated to cross a valuation of US$ 29,211.9 million in 2023. It is projected to attain a valuation of US$ 713,213.4 million by 2033. The market is foreseen to thrive at an astronomical CAGR of 37.6% from 2023 to 2033.

The resilience and fault tolerance of swarm computing systems is intrinsic. Swarm computing is a decentralized technology that promotes self-organization and flexibility, making the system more resilient to errors or interruptions. In the event of a device or agent failure, the remaining ones may effortlessly take up the burden, assuring continuous functioning. Swarm computing has become more accessible and economical as the cost of hardware components like sensors, CPUs, and communication tools has decreased. Swarm computing solutions may now be used in a larger variety of applications and sectors due to this cost decrease, thereby facilitating the market growth.

The growing deployment of drones for environmental is an expanding application of swarm computing. Applications for environmental monitoring that employ swarm computing include ecosystem analysis, monitoring of the quality of the air and water, and disaster response. Drones or swarms of sensor nodes are effective ways to collect data across vast regions and conduct spontaneous analysis.

In the market for swarm computing, the Asia-Pacific region is rapidly evolving into an integral market for growth. Significant investments in robots, AI, and swarm intelligence have been made by nations including China, Japan, South Korea, and Singapore. These nations are leading the way in robotics and automation innovation because of their robust technological industries. Swarm computing is being adopted in sectors including logistics, agriculture, and smart cities in the Asia-Pacific region, where swarm-based robots and AI research are also progressing.

Key Takeaways from Swarm Computing Market:

The global swarm computing industry size developed at a CAGR of 35.5% from 2018 to 2022.
In 2018, the global market size stood at US$ 6,422.3 million.
The global market size stood at US$ 21,500.1 million in 2022.
The Stochastic Diffusion Search (SDS) segment is predicted to advance at a colossal CAGR of 39.8% during the forecast period.
The robotics segment by end-user industry is projected to thrive at a striking CAGR of 20.5% from 2023 to 2033.
The North American swarm computing market is anticipated to capture a 28.3% share during the forecast period.
The European swarm computing market is projected to occupy 23.1% shares during the forecast period.

Recent Developments Observed by FMI:

In July 2022, SSI Schäfer Ltd. and Fraunhofer IML developed an enterprise lab. Innovations for the future of logistics are primarily the focus of the lab.
The next component of Axon’s VR training platform, Simulator Training, was released in June 2022. The cops may use cordless VR headsets to hone their abilities whenever and wherever they choose due to this.
In July 2022, Avidbots and Maplesoft announced their partnership in an effort to improve the design of autonomous cleaning robots for business clients.

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Swarm Computing Market Segmentation

By Algorithm Type:

Stochastic Diffusion Search
Ant Colony Optimization
Particle Swarm Optimization

By End-user Industry:

Military
Space Aeronautics
Healthcare
Mining
Robotics
Telecommunication

By Region:

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

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Lightweight Acoustic Floor Systems Market is Expected to Progress at a CAGR of 6.7% from 2022 to 2032 | FMI

Lightweight acoustic floor systems market value will increase from US$ 3,561.3 Million in 2022 to US$ 6,782.1 Million in 2032. The market, which had a value of 5.2% between 2016 and 21 will grow at a CAGR of 6.7% between 2022 and 2032.

The construction sites, transportation and other internal and external factors produce sound adding to the noise pollution. The acoustic floor is the different floor or carpet used in such a way that it can control and reduce the noise levels in the area by absorbing the sound waves.

Noise is a harsh sound that can come from many different places. Noise pollution is said to be caused by a variety of sources, including noise from industrial machinery, noise in the workplace, noise from society, and even noise from the neighbours. The use of acoustic materials in acoustic goods makes it easier for users to lower noise levels in the workspace.

The increasing demand for the industrial applications and growing awareness among the people about the severity of the noise pollution are few of the causes for the steady increase in the request of the acoustic floor market in the forecast period. Acoustic floors control the transmission of noise and vibration. Installation of acoustic floors in the residential areas also provides the solution for the noise control.

What are the Factors Driving the Global Lightweight Acoustic Floor Systems Market?

The presence of strict rules and regulations relating to noise limits in residential buildings, along with an increasing number of commercial buildings is anticipated to enhance demand for lightweight acoustic floor systems. Further, there has been surged demand for lightweight acoustic floors in industrial projects to dampen the noise generated from structures. Movie theaters, concert halls, music studios, and auditoriums are some of the major consumers of lightweight acoustic floors.

Further, the introduction of environment-friendly acoustic panels is projected to widen the growth prospects of the market during the forecast period. For instance, Shumanet Eco is an eco-friendly fiberglass slab that features a high sound insulation performance. It is used as a middle layer while building frame sound-absorbing and ceiling structures. Such factors are expected to augment the market size in the forecast period.

Global Lightweight Acoustic Floor Systems: Market Players

Some of the prominent players for the lightweight acoustic flooring systems includes

Mason UK
Kinetics Noise Control Inc
Farrat Isolevel Ltd
Rockcote Resene Ltd.
Monarfloor Acoustic Systems Ltd.
Cellecta Ltd.
Knauf Insulation
Saint-Gobain Isover
Ubiq
YOSHINO GYPSUM CO., LTD.

Recent Key Developments in the Industry Include

In January 2020, The Stephens Group announced the acquisition of Kinetics Noise Control, Inc., and in conjunction with the transaction, formed a new company, Catalyst Acoustics Group, which will serve as a platform for an elite group of acoustic, vibration, seismic, and noise control companies that offer the broadest portfolio of noise solutions.
In January 2022, Knauf Insulation signed a contract to acquire a Glass Mineral Wool plant in Central Romania. After concluding the transaction, the plant-based in Târn veni, Mure County will be upgraded to Knauf Insulation’s manufacturing standards.

Key Segments Profiled in the Global Lightweight Acoustic Floor Systems Market

Global Lightweight Acoustic Floor Systems Market by Type of Flooring:

Fixed Lightweight Acoustic Floor Systems
Spring Lightweight Acoustic Floor Systems

Global Lightweight Acoustic Floor Systems Market by Material:

Concrete Lightweight Acoustic Floor Systems
Rubber Lightweight Acoustic Floor Systems
Wood Lightweight Acoustic Floor Systems
Fiberglass Lightweight Acoustic Floor Systems
Foam Lightweight Acoustic Floor Systems

Global Lightweight Acoustic Floor Systems Market by Application:

Lightweight Acoustic Floor Systems in Industry
Lightweight Acoustic Floor Systems in Manufacturing
Lightweight Acoustic Floor Systems in Construction
Lightweight Acoustic Floor Systems in Mining
Lightweight Acoustic Floor Systems in Energy
Lightweight Acoustic Floor Systems in Automotive
Lightweight Acoustic Floor Systems in Commercial
Lightweight Acoustic Floor Systems in Hospitals
Lightweight Acoustic Floor Systems in Hotels
Lightweight Acoustic Floor Systems in Education Institutes
Lightweight Acoustic Floor Systems in Offices
Lightweight Acoustic Floor Systems in Sport Venues
Lightweight Acoustic Floor Systems in Art and Entertainment
Lightweight Acoustic Floor Systems in Residential

Global Lightweight Acoustic Floor Systems Market by Region:

North America Lightweight Acoustic Floor Systems Market
Latin America Lightweight Acoustic Floor Systems Market
Europe Lightweight Acoustic Floor Systems Market
Asia Pacific Lightweight Acoustic Floor Systems Market
MEA Lightweight Acoustic Floor Systems Market

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Smart Bed Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2033

The global smart bed market size is expected to be valued at US$ 3.42 Billion in 2023. With the rise in the purchase of luxury and comfortable products, due to increasing disposable income, coupled with the rising awareness about the benefits of smart beds, the overall demand for smart beds is projected to grow at a CAGR of 7.0% between 2023 and 2033, totalling around US$ 6.73 Billion by 2033.

The increasing utilization of smart beds in the healthcare industry, due to the increasing automation and improving patient room technology is one of the major factors that is expected to boost the growth of the smart bed market during the forecast period.

In addition, rising investments in the healthcare sector by governing agencies of different countries, coupled with the growing geriatric population, have positively influenced the installation of smart beds across the globe. These beds provide a wide range of benefits, including smart fabric technology, automatic mattress firmness adjustments, anti-snoring features, adjustable bases, and smart-home connectivity, which is further anticipated to fuel overall sales.

There are a huge number of fresh entrants who are laser-focused on meeting the changing consumer demands globally, and these companies have penetrated the online channels to gain an edge over the competitors in the market. The fast-paced competition has created ample options for the consumers to select their products, which have shifted the product purchase behaviour.

Furthermore, the prominent manufacturers’ product innovations have helped the market meet the demand from the hospitality sector. Stryker Corporation, in October 2020, launched a smart bed named ‘ProCuity’ that comes with smart embedded features and sensors, including Stryker’s Secure Connect Technology for smart patient monitoring and to connect to nurse call systems wirelessly.

Key Takeaways from the Market Study

Global smart bed market was valued at US$ 3.2 Billion by 2022-end
From 2018 to 2022, the market demand expanded at a CAGR of 7%
By application, the hospital segment of the market constitutes the bulk of the market with a market share of 32%
By distribution channel, the offline segment dominates the market with a share of 30%
From 2023 to 2033, Smart Bed sales are expected to flourish at a CAGR of 0%.
By 2033, the market value of Smart Bed is expected to reach US$ 73 Billion

“The demand for smart home devices and gadgets is soaring and the escalating consumer interest towards such smart home gadgets is uplifting the consumption of such products across households,” remarks an FMI analyst.

Competitive Landscape

Players in the global Smart Bed Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In September 2021, Baxter International Inc., an American multinational health care company, acquired Hill-Rom Holdings, Inc. for a $10.5 billion total equity value. This acquisition by Baxter adds smart hospital beds to its existing product portfolio of patient monitoring and diagnostic products. Hill-Rom Holdings, Inc. is a medical device provider based in the USA.
In August 2020, Sleep Number made advancements to its 360 Smart Bed with SleepIQ technology. The beds are designed to conform more closely to the body for superior support and spinal alignment, increased pressure relief, and reduced motion transfer.
ReST and Purple Innovation, the innovators behind the renowned Purple Grid, partnered in July 2020. The ReST smart bed incorporates both smart technology and comfort technologies to create a different kind of sleep.

Know More About What the Smart Bed Market Report Covers

Future Market Insights offers an unbiased analysis of the global Smart Bed Market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.

To understand opportunities in the smart bed market, the market is segmented on the basis of application, and distribution channels across five major regions.

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Key Segments Covered in the Smart Bed Industry Analysis

Smart Bed Market by Application:

Residential
Hospital
Hospitality
Others

Smart Bed Market by Distribution Channel:

Supermarkets/Hypermarkets
Specialty Stores
Online
Others

Smart Bed Market by Region:

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

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Laser Projection Market to Surpass USD 77.8 Billion by 2033, Driven by Demand for High-Quality Visual Experiences

The global laser projection market is projected to reach USD 14.8 billion in 2023 and is expected to exceed USD 77.8 billion by 2033, growing at a CAGR of 18.1% over the forecast period. Between 2018 and 2022, the market experienced a CAGR of 22.9%.

Laser projection technology uses laser-based light sources to deliver sharper, brighter images with better color accuracy compared to traditional lamp-based projectors. It has gained traction across industries such as entertainment, education, corporate, healthcare, and automotive, due to its longer lifespan, energy efficiency, and flexibility in projection capabilities.

The demand for laser projectors continues to rise, driven by the need for immersive visual experiences, superior image quality, and large-format projections in various environments. Technological advancements and product innovations are shaping the market, with laser projection systems now being adopted for applications in film, digital signage, simulation, and beyond.

As the technology becomes more cost-effective, the market is expected to see widespread adoption globally, offering opportunities for companies involved in its development and integration.Bottom of Form

Key Takeaways from the Laser Projection Market Research Study:

The United States Laser Projection Market is estimated to be valued at US$ 14.3 billion by 2033.
Japan is projected to surge at a CAGR of 18.0%, reaching a valuation of US$ 15 billion by 2033.
The United Kingdom Laser Projection Market is likely to witness a CAGR of around 17.8% from 2023 to 2033.
Based on product type, the laser projector segment is expected to surge at a CAGR of 18.0% by 2033.
In terms of vertical, the enterprise category is projected to showcase a CAGR of 17.7% from 2023 to 2033.

Competitive Landscape and Top Companies Market Share:

Key players in the Laser Projection Market include technology companies, display manufacturers, projector manufacturers, and integrators. Companies focus on developing Laser Projection systems with improved performance, increased brightness, reduced maintenance, and enhanced user experience.

Barco NV
BenQ Corporation
Canon, Inc.
Casio Computer Co., Ltd.
Christie Digital Systems USA, Inc.

Key market players are investing heavily in research and development to expand their product lines, contributing to further growth of the Laser Projection Market.

Market participants are also undertaking several strategic activities to expand their global presence. Key market developments include new product launches, contract agreements, increased investment, mergers and acquisitions, and collaborations with other organizations.

The laser projector industry must offer cost-effective products to scale and survive in an increasingly competitive and expanding market.

For instance,

In March 2018, Epson collaborated with 4Wall Entertainment, Inc. (US) to use Laser Projection plotting to stretch basketball fans at Thomas & Mack Center an immersive experience.

Laser Projection Market Segmentation:

Product Type:

Laser Projector
CAD Laser Projection System

Vertical:

Enterprise
Public Places
Cinema
Education
Others

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Shingled Magnetic Recording Market: Expanding Horizons with a Projected CAGR of 20.7% from 2022 to 2032 | FMI

The market for shingled magnetic recording is anticipated to expand at a robust CAGR of 20.7% from 2022 to 2032. It is currently valued at US$ 1.6 billion, but by then, it’s anticipated to be worth US$ 10.6 billion. Previously, the market grew at a slower CAGR of 19.3% from 2016 to 2021.

One of the technologies with the quickest growth is shingled magnetic recording (SMR), which was developed in response to the growing demand for increased hard disc drive capacity and data recovery from archived hard disc drives. The demand for data is currently growing, as is the need for storage technology.

The growing demand for high storage capacity, fast data access speed and high cost effective storage device worked together to further promote the development of storage recording technology. Shingled Magnetic Recording has been developed to increase density, or we can say, break the limit of traditional PMR (Perpendicular Magnetic Recording).

Shingled Magnetic Recording technology is being used for archiving, data backup, and repository management. Environments like WORM (Write Once Read Many) and object storage are suitable for SMR, benefiting from its performance characteristics.

Shingled Magnetic Recording technology is useful for organizations and other institutions which have massive amounts of data and which require a value-centric alternative to the current near line offerings, SMR seems to be a perfect choice

Shingled Magnetic Recording Market: Drivers and Challenges

The major factor driving the adoption of Shingled Magnetic Recording technology is the growing demand to increase capacity of hard disk drive. Shingled Magnetic Recording technology leverages existing standards to increase platter capacity by up to 25%.

Moreover Shingled Magnetic Recording technology provides help for high capacity, power efficient storage solutions required by digital media content servers, enterprise data center servers, cloud based active and cold storage – any configuration that requires high capacity storage and high reliability.

The key challenge restraining the market for Shingled Magnetic Recording technology market is the chances of data loss as ordinary hard disk drive and Shingled Magnetic Recording hard disk drive uses same storage codes.

So, there are chances of data loss in Shingled Magnetic Recording hard disk drive. However, the data recovery can be done in Shingled Magnetic Recording technology but it is a time taking process.

Key Developments

In January 2016, Seagate launched 3.5-inch, 10-terabyte enterprise capacity hard drives for the growing demands of public and private cloud-based datacenters.
The drive is filled and sealed in with helium to create a turbulence-free, quiet environment in rack-mounted spaces typically filled with hundreds of drives operating.
In January 2016, Seagate launched back up plus ultra slim, with 5,400 RPM mobile 2 TB HDD with a 7 mm Z-height coupled with Shingled Magnetic Recording technology.
In June 2015, HGST, a Western Digital company has launched enterprise-class Helio Seal 10TB hard drive particularly for achieving maximum density by including Shingled Magnetic Recording technology.

Shingled Magnetic Recording market there are many vendors some of them are HGST, a Western Digital company and Seagate.

Regional Overview

North America is holding the largest market share currently for Shingled Magnetic Recording market due to the convergence of big data will create new opportunities for Shingled Magnetic Recording technology.

Moreover, increase in data usage has become the main focus of valid Shingled Magnetic Recording due to which the market demand for Shingled Magnetic Recording has increased significantly.

In Europe region, the market for Shingled Magnetic Recording technology is witnessing high growth rate due to presence of large number of companies that are using Shingled Magnetic Recording hard disk drive for improving capacity of HDD.

In APAC also with the rising investments in research and development, the implementation of Shingled Magnetic Recording technology in hard disk drive is increasing progressively.

Key segments

By Type:

Drive managed
Host-aware
Host-managed

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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GPU as a Service Market for 2023 to 2033 to Witness Explosive Growth with 40.8% CAGR

The global GPU as a Service (GPUaaS) market is poised for unprecedented growth over the next decade. Valued at US$ 3,911.4 million in 2023, this market is projected to surge to an impressive US$ 119,643.4 million by 2033, driven by the increasing adoption of artificial intelligence (AI), machine learning (ML), and high-performance computing (HPC) applications across industries.

Growing demand for cloud-based GPU solutions, fueled by the rise of big data analytics and real-time processing needs, has positioned the GPUaaS market as a key player in the evolving tech landscape. The ability of GPUaaS to deliver scalable, flexible, and cost-efficient computing power will continue to be the cornerstone of its expansion, reflecting a robust CAGR of 40.8% from 2023 to 2033.

Key Takeaways from Market Study:

The GPU as a Service market is expected to grow at an astounding CAGR of 40.8% between 2023 and 2033.
Market value in 2023 is set at US$ 3,911.4 million, projected to skyrocket to US$ 119,643.4 million by 2033.
Rising demand for AI, ML, and HPC across industries will drive market growth.
Cloud-based solutions and real-time data analytics are major contributors to GPUaaS adoption.
North America dominates the market share, with significant growth expected in the Asia-Pacific region.

Drivers and Opportunities

The exponential growth of the GPUaaS market is driven by several key factors, including the increasing adoption of AI and ML technologies across sectors like healthcare, automotive, and finance. As companies continue to embrace digital transformation, the need for powerful computing resources that can handle complex algorithms and large datasets is paramount. GPUaaS offers a cost-effective solution by providing on-demand access to scalable GPU resources without the need for significant upfront investment in hardware infrastructure.

Moreover, the rise of cloud computing platforms such as AWS, Microsoft Azure, and Google Cloud has made GPUaaS more accessible, opening up opportunities for small and medium enterprises (SMEs) to leverage advanced computing capabilities. In addition, the growth of the gaming industry, virtual reality (VR), and augmented reality (AR) applications is further fueling the demand for GPUaaS, presenting significant market opportunities over the forecast period.

Components Insights

The GPUaaS market can be broadly segmented into software and services. The software segment holds a dominant market share, owing to its critical role in enabling applications like AI, ML, and HPC to function efficiently on virtual platforms. Advanced GPU management software allows organizations to harness the full potential of these powerful processors while optimizing their usage for diverse applications.

On the other hand, services such as consulting, integration, and maintenance are also expected to witness substantial growth, as companies seek specialized expertise to implement GPU solutions effectively. The increasing complexity of computing requirements is likely to propel demand for managed GPU services, particularly in sectors like defense, education, and scientific research.

Application Insights

GPUaaS has broad applications across industries, with significant uptake in sectors like healthcare, automotive, BFSI, and entertainment. The healthcare industry is increasingly utilizing GPUaaS for medical imaging, genomics, and drug discovery, where processing vast amounts of data is critical for breakthroughs. In the automotive sector, GPUaaS powers autonomous driving algorithms and simulations, accelerating the development of self-driving vehicles.

Furthermore, the entertainment industry relies on GPUaaS for rendering high-quality graphics in games and movies, while the BFSI sector utilizes GPUs for risk analysis, fraud detection, and algorithmic trading.

Deployment Insights

GPUaaS solutions are primarily deployed through public, private, and hybrid cloud models. The public cloud segment dominates the market, offering cost-effective and scalable solutions for businesses of all sizes. Large enterprises with complex workloads are increasingly opting for hybrid cloud deployments to balance cost savings with the need for security and data control. The private cloud segment is growing in industries with stringent regulatory requirements, such as healthcare and finance, where data privacy is a top concern.

Key Companies & Market Share Insights

The GPUaaS market is highly competitive, with several key players contributing to its dynamic landscape. Companies like NVIDIA Corporation, Google LLC, Microsoft Corporation, and Amazon Web Services (AWS) are leading the charge, offering a variety of GPU solutions for businesses across industries. NVIDIA remains at the forefront, leveraging its leadership in GPU technology to provide cutting-edge services. Other notable players include IBM, Intel Corporation, and Advanced Micro Devices, Inc. (AMD), all of which are expanding their offerings to cater to the growing demand for GPU-based cloud services.

Recent Developments

In 2023, NVIDIA announced the launch of new GPU instances optimized for AI and HPC workloads, enhancing the capabilities of their cloud platforms.
Amazon Web Services (AWS) expanded its GPUaaS portfolio by adding NVIDIA H100 GPUs to its EC2 instances, providing more power for ML and deep learning applications.
Google Cloud introduced customized GPUs for enterprises, allowing for tailored solutions based on specific computational needs.
Microsoft Azure partnered with leading tech firms to offer enhanced GPUaaS solutions for VR and AI applications, strengthening its position in the market.

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