Process Automation and Instrumentation Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2032

Future Market Insights (FMI) has recently published a report titled “Process Automation and Instrumentation Market – Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”. Process automation involves using software technology and computer technology to allow end-use industries such as cement, oil & gas, chemical, paper, and others to operate more safely and efficiently. The information is stored and analysed on a computer with the help of sensors, which collect the data on flows, pressures, and temperatures, among others.

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The global process automation and instrumentation market is expected to grow at a CAGR of 6.0% during the forecast period. The process automation and instrumentation market was valued at US$ 97,192 Mn in 2017, and is projected to grow significantly to reach US$ 174,121 Mn by 2027 end due to the increasing adoption of IoT platforms, digital transformation and development in the internet services.

In this report, FMI has segmented the global process automation and instrumentation market on the basis of instrument type, solutions, application, and region. By instrument type, the process automation and instrumentation market is sub-segmented into transmitters, flow meters, analysers, controllers, switches, recorders, switches, and vacuum instruments.

The increasing penetration of connected devices and rising the growth of industrial IoT, the transmitter sub-segment in the global process automation and instrumentation market accounted more than 28% share in 2017. In addition, due to the rising adaptation of digital technologies by various industry verticals, the vacuum instrument sub-segment is estimated to register a high CAGR of 6.1% during the forecast period in process automation and instrumentation market.

On the basis of solutions, the global process automation and instrumentation market is sub-segmented into PLC, SCADA, DCS, HMI, APC, MES, and safety automation. The PLC sub-segment is estimated to dominate the overall process automation and instrumentation market.

Based on application, the process automation and instrumentation market is sub-segmented into chemical, metal & mining, food & beverage, oil & gas, pharmaceutical, pulp & paper, wastewater treatment, power, and others. Due to increasing digitization of the chemical industry in North America and Europe, the chemical sub-segment is expected to register a high CAGR of 5.9% during the forecast period in the global process automation and instrumentation market. In the upcoming years, the pharmaceutical and power industry segments are expected to witness deployment of advanced technologies.

With these advancements, the pharmaceutical sub-segment is projected to create potential growth in the process automation and instrumentation market. In the recent past, it has been observed that established companies as well as growing companies have started investing on information technologies and companies from various sectors. These factors are expected to boost the growth of the global process automation and instrumentation market in the near future.

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Furthermore, to sustain in this highly competitive environment, the global and regional food & beverages and oil & gas companies are moving towards automation. Worldwide, the food & beverages and oil & gas industries are undergoing technological advancements. Furthermore, the metal & mining industry is making huge investments and setting higher targets for its digital operations than any other sector, which is expected to create potential growth opportunities for the process automation and instrumentation market.

Furthermore, on the basis of geography, North America is expected to dominate the global process automation and instrumentation market due to the advent of next-generation technological advancements in the U.S. and Canada. The process automation and instrumentation market has high potential in APEJ owing to major advancements in connecting technologies in India & China. China is now the most connected country in the world. In the recent years, the process automation and instrumentation market in APEJ has witnessed a significant growth.

The Western Europe process automation and instrumentation market will be a target market for the participants because governments in the region are promoting and supporting the Industry 4.0 revolution in process automation and instrumentation market. Latin America is estimated to grow with a moderate CAGR over the forecast period in process automation and instrumentation market.

According to FMI’s analysis, long-term contracts with business partners help to increase the revenue and new innovation strategies enable process automation and instrumentation vendors to reach new growth markets.

Examples of some of the Leading participants featured in the global process automation and instrumentation market are ABB Limited, Emerson Electric Company, Mitsubishi Electric Company, Rockwell Automation Inc., Siemens AG, Schneider Electric SE, Yokogawa Electric Corporation, Honeywell International Inc., and Pepperl+Fuchs GmbH.

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Noise Control System Market Expectations & Growth Trends Highlighted Until 2031

A new study by Future Market Insights (FMI) finds that the industrial noise control market is anticipated to grow at a CAGR of over 3.7% between 2021 and 2031. Key factors impacting the growth of the industrial noise control market include, The market for noise control systems went through a negative phase amid the spread of the Covid-19 crisis. The sales level in this demand witnessed a downturn creating potential losses for the global manufacturers.

As the condition is normalizing in 2021 due to strong and stringent government efforts, the top manufacturers are trying to recuperate the losses incurred through product diversifications and innovations.

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Noise Control System Market: Close Fight Between North America & APEJ for Top Position in Terms of Revenue Share: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027

Noise Control System Market

  • Growing awareness of harmful levels of industrial noise
  • Increasing emphasis on protecting workers and employees from noise pollution
  • Stringent environment regulation related to industrial noise control
  • Incorporation of integrated noise control technologies in advanced industrial machinery

The industrial noise control industry is witnessing a shift toward biodegradable materials over traditional materials. Manufacturers are incorporating green and sustainable materials in the design and development of industrial noise control units to align with the ongoing sustainability trend.

Polymer & Composites Remain Preferred Materials

The FMI study finds that polymer and composites are highly preferred materials for the manufacturing of industrial noise control units. Polymers and composite materials have higher soundproofing properties as compared to other materials such as glass, metal and fabric. In addition, recent developments in composite materials provide biodegradability and recyclability, leading to higher sales.

Vibration Isolation Units Highly Sought-After

The FMI study finds that over 8 in 10 industrial noise control units sold by 2020 were equipped with vibration isolation units. As vibrations can significantly affect the overall productivity and durability of a range of industrial machines, industrial noise control with vibration isolation units is highly sought after.

FMI thoroughly analysed demand trends of different vibration isolation units, such as isolation/machinery pads, isolation mounts, equipment bases and spring isolators. Among these, sales of isolation mounts were higher in 2020 and the demand trend will continue in the future as manufacturers consistently introduce advanced and more efficient vibration isolation mounts.

The industrial noise control market is also studied for flexible and rigid industrial noise control instruments by FMI. While both these noise control units significantly address noise pollution issues, the FMI study finds that flexible noise control units accounted for the second-highest sales during the forecast period.

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Industrial Noise Control Utilisation in Internal Application Prominent

The FMI study estimates that demand for industrial noise control units for internal noise control applications remained higher than compared to the application in external noise control. Elevated sound levels at workplaces and other commercial or residential places can cause negative human health conditions such as hearing impairment, annoyance, sleep disturbance, hypertension and, in some cases, ischemic heart disease. Dissemination of knowledge regarding these harmful effects is contributing to increasing sales of industrial noise control units in the internal noise control application.

Growing awareness of environmental noise as a potential health concern, industrial measures are taken to address the impact of external noise sources. FMI shows that adoption of industrial noise control for external noise control application will grow at a CAGR of over 3.9%.

Demand for Industrial Noise Control Units Consolidates in Manufacturing Sector

According to the FMI study, the manufacturing sector remains a prominent end-user of industrial noise control units. Different manufacturing industry verticals such as electrical & electronics, industrial machinery, automotive, metal and others significantly integrate industrial noise control measures.

Keeping the noise within the OSHA levels in the different manufacturing sectors is pivotal in ensuring the health and wellness of employees.

Demand in East Asia Continues to Surge, Europe Represents Second Largest Market

As per FMI valuation, countries in East Asia including China, Japan and South Korea registered significant demand for industrial noise control units in 2020. In terms of sales volume, Europe followed East Asia collectively.

China in East Asia remains the leading consumer of industrial noise control. A prominent manufacturing sector in the country contributes to the significant demand for industrial noise control. In Europe, Germany followed by France and the UK accounted for a considerable bulk of regional demand in 2020.

While the growth prospects seem steady for the industrial noise control market, the development of advanced industrial machinery integrated with noise-cancelling technologies and sound or vibration absorbers can impede the market growth in the future.

The FMI report tracks the industrial noise control market for the period 2021-2031. According to the report, the industrial noise control market is projected to grow at a 3.9% volume CAGR through 2031.

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Pallet Pooling Market 2022 Assessment and Key Insights Analyzed Till 2032

Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time. Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.

Future Market Insights (FMI) has projected the Global Pallet Pooling market to grow with considerable value CAGR of 6.2% during the period of 2022 and 2029 and reach a value of US$ 641.8 Mn by 2029 end.

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According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6.2% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.

Key Takeaways of Pallet Pooling Market Study

  • Pallet pooling has prominent application in the FMCG sector, as warehouses play a crucial role in this industry.
  • In terms of material, plastic pallet pooling is estimated to witness notable demand, owing to high reliability, durability, and cost-effectiveness of plastic pallets as compared to other types.
  • Globally, the pallet pooling market in GCC countries is estimated to witness lucrative growth, owing to the positive outlook for industrial trade activities in the region, particularly for the e-Commerce industry. The U.S. is expected to hold a leading share in the global market, registering a significant CAGR throughout the forecast period.
  • In recent years, pallets tagged with RFID have become more popular amongst end consumers, owing to their ability to provide location as well as detailed information related to stacked products on pallets.
  • Pallet pooling is a one-time investment business, in which, the owner has to purchase pallets and then pooling can be done without any large investment. As a result, the market offers high profit margins to its participants.
  • For the effective operational efficiency of pallets, pallet service providers perform quality checks after the end of every service cycle to provide high-quality pallets and efficient service cycles to end consumers. Continuous and high standard quality checks of pallets are estimated to help players in the global pallet pooling market gain a competitive advantage.

“In the pallet pooling market, flexible payment profiles allow end consumers to pay rent monthly or quarterly at fixed rental rates throughout the term of the agreement, and customizations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”

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Pallet Pooling Market: Competitive Landscape

The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe. Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam are considered to be leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.

Focus on Technological Advancements in Pallet Pooling

Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.

Find More Insights on Pallet Pooling Market

The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.

Key segment:

By Structural Design:

  • Block
  • Stringer
  • Customized

By Material:

  • Wood
  • Composite
  • Plastic
  • Steel
  • Other Metals

By End Use:

  • FMCG Industry
  • Food & Beverages
  • Pharmaceutical
  • Electronics
  • Chemicals
  • Others

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

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Tipper Body Equipment Market Insights, Deep Analysis of Key Vendor in 2026

APEJ accounted for more than 20% of the global tipper body equipment market in 2016 and is expected to account for close to 30% by the end of 2026. In comparison to 2016, the region is expected to gain more than 150 BPS by the end of 2026. The APEJ region is expected to lead the global tipper body equipment market in terms of CAGR during the assessment period, expanding at a healthy CAGR of 4.8 percent.

By the end of 2026, the region’s market value is expected to exceed US$ 1,000 million. Between 2016 and 2026, China is expected to account for more than one-fourth of the value share in the APEJ tipper body equipment market.

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In addition, cost-intensive capital and high maintenance will also remain the long-term restraints for market growth. However, high initial costs of purchasing tipper body equipment are subsequently boosting the establishment of tipper rental businesses and compelling those that are already established to become more organised to cater to a growing trend of the rental tipper body equipment.

Global Tipper Body Equipment Market: Regional Insights

  • A regional analysis of the global tipper body equipment market by Future Market Insights indicates that Asia Pacific (excluding Japan), North America, Latin America, and Europe will be the key markets throughout the next decade.
  • APEJ, driven by China and India, is projected to dominate with more than 28% value share at the end of the assessed period with a gain of 180 BPS.
  • North America will remain the second-largest regional market that is expected to bag over 23% share in 2026.

Global Tipper Body Equipment Market: Key Vendor Insights

  • Among some of the key companies operating in the global tipper body equipment market landscape, Schmitz Cargobull AG and Hyva Global B.V. are likely to continue representing leading revenue shares over the forecast period.
  • Other notable players include Crysteel Manufacturing Inc., Thompsons (UK) Ltd., BION INDUSTRIAL LLC, and F.X. MILLER.
  • While the majority of key players are strategising new product launches, collaborations, and joint ventures, others are focusing more on production capacity expansion and acquisitions.

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Global Tipper Body Equipment Market: Overall Dynamics

With increasing urbanisation and thriving construction and mining sectors, demand for tipper body equipment is expected to remain stable in the coming years. Consistent demand from the waste management industry will also drive the market for tipper body equipment. Furthermore, technological innovation in tipper body products, such as redesigning the driver’s cabin in tipping equipment and vehicles to provide the most convenient operating experience possible, is expected to boost sales in the near future.

Manufacturers’ increasing use of advanced telematics systems is expected to remain a key market driver over the next decade. During the assessment, another key factor identified as potentially driving market growth is the rapid adoption of automation.

Another remarkable trend driving the market includes the development of cost-competitive products to maximise penetration in emerging economies, such as China, India, and South Africa. Development of effective tipper body equipment with enhanced load-carrying capacity and provision of the efficient buyer and drivers’ training by manufacturing entities are likely to present lucrative growth opportunities. While product development with advanced diagnosis systems can be a key to sustaining relatively mature markets, such as North America and Western Europe; massive potential lies in developing countries, including BRIC nations.

Global Tipper Body Equipment Market Segmentation

To understand and assess opportunities in the global tipper body equipment market, we have divided the report into six sections based on market segmentation as under:

By Tipping Type

  • Roll-off Tipper Body
  • 3-Way Tipper Body
  • Rear Tipper Body

By Load Carrying Capacity

  • Below 15 tons
  • 15–30 tons
  • 30 tons & above

By Mechanism

  • Hydraulic
  • Pneumatic

By Frame Material

  • Steel
  • Aluminium

By End Use

  • Mining
  • Construction
  • Waste Management
  • Marine Services
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Middle East and Africa (MEA)
  • Japan

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

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Bulk Terminals Market : Notable Developments & Geographical Outlook 2030

Analysts at Future Market Insights (FMI) have estimated that global minor bulk traded has expanded up to 1.74 billion tons. Bulk terminals play instrumental role in industrial infrastructure, wherein they ensure safe and efficient movement of critical resources. Despite current downturns in global seaborne trade due to COVID-19 pandemic, the global minor bulk trade has expanded considerably.

According to the FMI report, steel and forest products account for 43 percent of minor bulk trade. Furthermore, metals and minerals have captured around 37%, followed by agricultural products, which account for 20% of minor bulk trade.

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Agricultural yield is concentrated primarily in countries such as the United States, Argentina, Brazil, China, and India, which account for more than 34 percent of export and import of several grains as minor bulk commodities.

Bulk Terminals Market Size Study

  • Sales of bulk terminals to remain stable over forecast period, 2020-2030
  • Dry bulk continues to generate greater total returns to shareholders (TRS)
  • Nearly 190 terminals were under expansion worldwide in June 2019, with additional 49 under construction
  • Markets in Europe and North America to generate relevant value through 2030

“Majority of global trades are performed through coastal routes, as such, proper functioning of maritime transport is quintessential in overall progress of countries participating in global trade. Port operation accents for heavy investments in manpower and equipment. Consequently, various countries are embracing Public-Private Partnership (PPP), wherein operations and management duties are outsourced to private firms, while respective governments own certain land and assets,” says analyst at FMI.

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COVID-19 Impact on Bulk Terminals Market

Due to strict lockdown measures, the COVID-19 pandemic is causing massive supply chain disruptions in the bulk terminals market, particularly in Asian supplier regions. Such stringent measures have resulted in a labour shortage – truck drivers and labourers – at port terminals.

Furthermore, the market is suffering from a lack of transportation facilities such as. According to studies, the number of trucks and containers dropped by about half due to a decrease in the number of trailers and a lack of drivers. This has slowed transshipment operations at terminals even more.

Because of growing concerns about worker safety, several end-use industrial operators have temporarily halted manufacturing processes, reducing demand for bulk terminals. Upgrading automation capabilities will be critical for staying afloat during the COVID-19 crisis.

Bulk Terminals Market – Competitive Intelligence

Leading players in global bulk terminals market are focused on inorganic growth strategies such as mergers and acquisitions (M&A) as well as contracts in order to boost theor market presence. Case in point,

  • Ultramar Group has entered into transshipment collaboration with Acron Group to transship over 1.2 million tons per year (tpy) of mineral fertilizers.
  • Noatum Maritime has taken over multi-purpose bulk terminal business from Noatum Ports.
  • Teck Resources and Westshore Terminals have entered into an agreement for new throughput contract for export of metallurgical coal beginning in April 2021. The contract will witness 5-7 million mt of metallurgical coal exported from April through December 2021.

To Know More About Bulk Terminals Market:

A new market research report published by Future Market Insights (FMI) on the global bulk terminals market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the bulk terminals market through two different segments – bulk type, and region. The bulk terminals market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of barcode printers and product adoption across several end-use industries.

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

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Pharmacy Automation Systems Market Is Anticipated To Nearly Double By 2027, According To Future Market Insights

The global pharmacy automation systems market was valued at US$ 3,344.7 Million in 2016 and is estimated to grow at a CAGR of 6.3% during the forecast period 2017–2027.

Future Market Insights delivers key insights and presents a revised forecast of the global pharmacy automation systems market for a 10 year period from 2017 to 2027 in the report titled “Pharmacy Automation Systems Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027.” The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants.

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Key Segmentation Forecast:

The market has been segmented based on product type, application, end user and regions. Based on product type, the market is segmented into medication dispensing cabinets or automated dispensing cabinets, packaging and labelling systems, IV pharmacy (automated drug compounding), robotic dispensing systems, carousal storage systems and tablet splitters. Automated dispensing cabinets are expected to grow at the fastest CAGR due to increase in the usage of these systems for decentralized pharmacies and point of care settings. The segment is expected to register a CAGR of 7.4% during the forecast period. However exorbitant costs for the implementation of pharmacy automation systems is expected to adversely affect demand for these systems in the near future.

To provide deeper insight into the pattern of demand for pharmacy automation systems, the market has been segmented based on the application of these systems such as drug dispensing & packaging, drug storage and inventory management. The inventory management application segment is expected to expand at the highest CAGR of 7.6% over the forecast period due to increasing demand for these systems to track and maintain inventory levels in pharmacies.

To analyze the sales of pharmacy automation systems further, the market has been segmented based on end users such as hospital pharmacies, clinic pharmacies, retail pharmacies, mail order pharmacies and pharmaceutical SMEs. Pharmaceutical SMEs is expected to present the highest demand for pharmacy automation systems over the forecast period, registering a CAGR of 7.8% and this is attributed to gradual increase in the number of SMEs or companies maintaining centralized pharmacies.

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A key trend in the pharmacy automation systems market is the increasing usage of RFID enabled automated dispensing cabinets. Also, key players in this market are increasingly working on big data and analytics solutions to provide useful and valuable insights to their clients.

This report assesses the trends driving growth of each segment at the global as well as regional levels, and offers potential takeaways that could prove substantially useful to pharmacy automation systems companies looking to enter the global market. It also provides insights into different factors for vendor selection criteria that might be useful for companies to make strategic decisions regarding their marketing plans. North America dominated the pharmacy automation systems market with maximum value share in 2016. North America and Western Europe collectively accounted for more than 80% of the total pharmacy automation systems market share in terms of value in 2016. Among emerging markets, Asia Pacific excluding Japan is estimated to exhibit the highest CAGR of 7.8% over the forecast period, due to increase in the need for automation solutions to better manage crowds in hospitals and retail pharmacies.

Key Market Players:

Some key players in the global pharmacy automation systems market identified in the report include Baxter International Inc., Swisslog Holdings AG, Care Fusion Corporation, Cerner Corporation, Kirby Lester LLC, Omnicell Inc. etc. We have discussed individual strategies of these companies in terms of enhancing the product portfolio, distribution partnerships, market consolidation and advanced R&D initiatives. In addition to this the report also provides company share and a competitive dashboard for players already present in the market.

Why Future Market Insights?

  • Comprehensive analysis on evolving purchase pattern across different geographies
  • Detailed insights of market segments and sub-segments for historical as well as forecast period
  • A competitive analysis of prominent players and emerging players in the keyword market
  • Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

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

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Barcode Printer Segment Holds The Highest Market 2022 Comprehensive Shares, Historical Trends And Forecast By 2026

The barcode printer market is expected to register a CAGR of 7.4% by the end of the forecast period 2016-2026. Manufacturers are using barcode printing technology to help cut costs, streamline operations, and improve quality control that fuel the growth of the barcode printer market.

After the 2008 economic downturn, the manufacturing sector is reviving. A large number of manufacturing companies around the world are implementing automation and process streamlining to reduce time and material waste, thereby improving efficiency and output. Barcoding is one such technique that is becoming more popular. This process has significantly reduced production time in the manufacturing process, driving demand for barcode printers.

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Barcodes have become the de facto standard for storing and labeling product information. Retailers all over the world use barcodes to simplify the recording and sale of supplies and commodities. Barcodes imprinted on labels adhere to products and record information such as product count, date of manufacture, date supplied to the retailer, selling price, and so on.

The information is retrieved and monitored when these products are scanned. This entire process, which takes only a few seconds, not only increases efficiency but also reduces errors. This has aided retailers in keeping track of their products and inventory on store floors and in warehouses.

However, the threat of RFID tags as barcode label substitutes and the low compatibility of barcode printers with various operating systems act as restraints in the global barcode printer market.

Segmentation highlights

The market is classified into six segments: printer type, printing technology, consumables, application, distribution channel, and region. Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode Printer, and Others are the printer types in the barcode printers market.

Based on printing technology, the market has been divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser, and Ink-Jet. Based on Distribution Channel, the market is segmented as Direct-to-End User, Direct-to-OEM, Dealer/Distributor, and Systems Integrator. Based on application, the market has been divided into industrial/manufacturing, transportation/logistics, retail, healthcare, government, and commercial services.

  • The Industrial Barcode Printer segment holds the highest market share of 46.1% closely followed by the Desktop Barcode Printer in the Barcode Printers Market. The Industrial Barcode Printer segment is also expected to dominate in the forecast period with a CAGR of 8.3% due to a preference for sturdy and rugged barcode printers with higher productivity.
  • The thermal Transfer segment holds the highest market share amongst all with 62.8% and is expected to improve further in the forecast period owing to very less cost involved, while Dot Matrix, Laser, and Ink Jet printing technologies are the least preferred technologies and are on the verge of being phased out.
  • Dealer/Distributor is the most preferred supply channel and is expected to dominate in the future due to higher distribution efficiency, low supply costs, and faster delivery times.

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Regional projections

North America and Western Europe are the most promising regions for the growth of the market owing to a higher preference for barcoding technology in different applications, while the market in the Latin America region is on a slow and stagnant growth due to low adoption of barcoding technology. The growth of the Barcode Printers market in the APEJ region may also grow at a slower pace due to saturation and the slow down of the manufacturing sector in China.

Vendor insights

Major players identified in the Barcode Printers market are Zebra Technologies Corporation, Avery Dennison Corporation, Oki Electric Industry Co., Ltd., Toshiba TEC Corporation, and Honeywell International, Inc. committing a combined market share of over 50%. Other major players are SATO Holdings Corporation, Printronix, Inc., and TSC Auto Id Technology Co., Ltd. supplying to various end-use industries and sectors.

Key Segments Covered

By Printer Type:

  • Desktop Barcode Printer
  • Industrial Barcode Printer
  • Mobile Barcode Printer
  • Others

By Printing Technology:

  • Thermal Transfer
  • Direct Thermal
  • Dot Matrix
  • Laser
  • Ink Jet

By Consumables:

  • Ribbons
  • Wax Ribbons
  • Wax/Resin Ribbons
  • Resin Ribbons
  • Labels

By Application:

  • Industrial/Manufacturing
  • Transportation/Logistics
  • Retail
  • Healthcare
  • Government
  • Commercial Services

By Distribution Channel:

  • Direct-to-End User
  • Direct-to-OEM
  • Dealer/Distributor
  • Systems Integrator

By Region:

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

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

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Power Tools Market Assessment and Key Insights Analyzed Till 2031

The global power tools market size was valued at US$ 33.36 Bn in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% CAGR between 2021 and 2031. Tools that are activated using a power source apart from manual labor are termed as power tools.

They are used in a variety of applications, including production and assembly lines, maintenance and repair, packaging, and do-it-yourself projects. Power tool demand is being driven by several factors, including ease and efficiency of operation, reduced time and labour requirements, and easy portability.

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Demand is expected to skyrocket as manufacturing activity expands across the industry. According to fmi, production programmes will account for the majority of market income during the forecast period. Aside from that, the growing popularity of do-it-yourself sports will increase revenue opportunities for the market.

Key Takeaways from Global Power tool Market Study

  1. The power tools market will exhibit growth of 0.2% in 2021 over 2020 to reach 4,3%
  2. The overall outlook remains positive as FMI forecasts the market to rise at ~5.1% between 2021 and 2031.
  3. The U.S. is expected to spearhead growth in North America, accounting for over 62% of the overall share in the region in 2021
  4. The U.K. is expected to exhibit 4.6% year-on-year growth between 2021 and 2031
  5. The outlook for Italy and France is expected to remain positive over the forecast period

“The power tools market is witnessing a strong growth trend, attributing to increasing demand from various end use industries. Key industry participants are focusing on developing partnerships with regional distributors in order to gain a competitive advantage in the evolving global market. To comply with the advent of online sales channel, adoption of e-commerce will create extensive opportunities for market participants during the forecast period.” says FMI analyst.

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Key Segments

Product Type

  • Drilling Tool
  • Fastening Tool
  • Heat Gun
  • Angle Grinder
  • Chain Saw
  • Orbital Sander
  • Jigsaw
  • Impact Wrench
  • Circular Saw

Technology

  • Electric
    • Corded
    • Cordless
  • Pneumatic

Application

  • Manufacturing
    • Metal Fabrication
    • Automotive
    • Railways
    • Aerospace
    • Furniture
    • Others
  • MRO Services
    • Facility Management
    • Automotive
    • Aerospace
    • Other Industrial
  • DIY
  • Construction

Sales Channel

  • Online
  • Offline

Region

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

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About Us

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

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Corporate Event Planner Market Size, Share & Statistics | Growth Forecast, 2032

The global corporate event planner market was valued at USD 300 billion in 2022 and is expected to grow at a 32% CAGR to USD 4817.9 billion by 2032.

The market for corporate event planners is expected to grow during the forecast period, owing to an increase in demand for automation among event management companies to simplify event functionalities. Furthermore, an increased emphasis on gaining actionable insights from events is propelling global corporate event planner market key trends and opportunities.

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Increasing Youth Entrepreneurship Participation and Business Seminars are Market Motivators

Event management is one of the most interesting and challenging jobs available. Today’s youth are eager to pursue careers in event planning because it allows them to work while having fun. They can meet new people and work in groups by managing events. Most young people are drawn to this profession because of the numerous benefits of being an event planner, which is expected to drive the corporate event planner market.

Furthermore, as the number of companies increases at a faster rate, businesses are investing heavily in organising events where they can showcase products or meet employees to convey a message, which is expected to boost the corporate event planner market.

Exorbitant Costs are Projected to be the Most Substantial Market Restraint

The cost of organising an event is extremely high, and this is expected to be the most significant restraint for the global corporate event planner market during the forecast period. Most organisations and individuals are interested in organising an event, but the high cost of organising an event and the event planners’ fees limit corporate event planner market growth. Most organisations or the general public avoid hiring a corporate event planner due to the higher costs involved.

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KEY TAKEAWAYS

  • The year 2020 will see a loss of one billion international tourist arrivals and a loss of approximately $1.3 trillion in tourism exports worldwide.
  • Forecast for the US corporate event planner market, by event type, the company meetings segment is expected to have the highest CAGR of 18.9% in the US corporate event market.
  • The information technology segment held 33.3% of the U.S. corporate event planner market share due to the fact that many IT companies are headquartered in the United States, which is the largest tech market, contributing 32% of the total share in the technology market.
  • With a corporate event planner market share of 28.89%, the North American corporate event planner market has the highest revenue potential.
  • With a corporate event planner market share of 21.4%, Europe is the second largest corporate event planner market.
  • North America offers excellent investment opportunities for those looking to profit from the most promising corporate event planner market growth in the coming years.
  • During the forecast period, the North American corporate event planner market is expected to grow at a CAGR of 54.3%.

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COMPETITIVE LANDSCAPE

Bassett Events, Inc., MKG, Colin Cowie, David Tutera, JR Global Events, Rafanelli Events, Oren Co, Wonderland, Event Solutions, MGM Resorts, and AJ Williams Events are among the major key players in the global corporate event planner market.

Companies are investing in new product development in order to gain a share of the global corporate event planner market during the forecast period. New entrants in corporate event planner market pose a moderate threat.

Recent Developments

Ticketmaster: In October 2020, Ticketmaster launched ‘Smartevent’ solutions to assist events in welcoming back fans. SmartEvent is a new technology suite that enables fans to safely return to live events.

Cvent: The market-leading provider of meetings, events, and hospitality technology, has revolutionised event website design with the launch of their redesigned website and registration solution. The new interface, dubbed’registration reimagined,’ gives the user complete design control and combines flexible design capabilities with drag-and-drop usability.

Australia Event professionals and marketers: Can now create completely customizable registration pages and interactive websites that are easy to use, mobile-responsive, flexible, and align with their specific event branding.

Key Segments  

By Event Type:

  • Conference/Seminar
  • Trade Shows/Exhibitions
  • Incentive Programs
  • Company Meetings
  • Others

By Industry:

  • Banking and Financial Sector
  • Information Technology
  • Real Estate and Infrastructure
  • Automotive
  • Insurance
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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

Contact Us:        
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Hybrid Cloud Storage Market is Expected to Accumulate a Market Value of US$ 1,87,982 Million by Registering a CAGR of 12.9% in the Forecast Period 2022-2032

In 2022, the market for  hybrid cloud storage reached a value of US$ 55,678.0 Million, and by 2022–2032, it is anticipated to reach a value of US$ 1,87,982 Million, with a CAGR of 12.9%. The incorporation of hybrid cloud storage systems into end user industries for maintaining and storing massive datasets can be credited with the growth of the hybrid cloud storage market. Between 2016 and 2021, the market for hybrid cloud storage experienced a CAGR of 11.8%.

The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the Hybrid Cloud Storage Market. The report features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2020 along with the key takeaways over the forecast period 2021 to 2027.

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The team of researchers at Future Business Insights are focusing on research and market study to produce different Hybrid Cloud Storage Market forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Hybrid Cloud Storage Market.

Hybrid Cloud Storage Market: Key Players

Some of the key players in the Hybrid Cloud Storage market are IBM Corporation, Microsoft Corporation, NetApp, Amazon Web Services, Inc., VMware, Inc., Micro Focus, Google Cloud Platform, Dell Inc., Rackspace, Inc., Panzura, Spectra Logic Corporation, Cloudian and Quantum Corporation.

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Hybrid Cloud Storage Market: Segmentation

Global Hybrid Cloud Storage Market can be segmented on the basis of Enterprise Type & Industry Verticals.

Segmentation for Hybrid Cloud Storage Market by Enterprise Type:

  • Large Enterprises
  • Small and Medium Sized Enterprises

Segmentation for Hybrid Cloud Storage Market by Industry Verticals:

  • Government & Public
  • BFSI
  • Retail
  • Healthcare
  • Telecommunication and IT
  • Media and Entertainment
  • Others

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Market Background                             

Key Segments Profiled in the Hybrid Cloud Storage Industry Survey

Enterprise Type:

  • Large Enterprises
  • Small and Medium Sized Enterprises

Industry Verticals:

  • Government & Public
  • BFSI
  • Retail
  • Healthcare
  • Telecommunication and IT
  • Media and Entertainment
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

About Us

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

Contact Us:
Future Market Insights,
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Plot No: JLT-PH2-X2A,
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