Document Imaging Market : Notable Developments & Geographical Outlook 2022 to 2029

The Document Imaging Market size is expected to grow from US$ 119.7 Bn in 2022 to US$ 267.7 Bn by 2029, likely to surge at a vigorous 12.2% CAGR during the assessment period 2022 – 2029.

The recent past has seen the rapidly growing interest of customers in multi-functional printers and mobile printing apps. Organizations seeking automation are mainly looking for automated supply and service fulfilment scanners.

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Key Takeaways – Document Imaging Market Study

  • Utilization of integral automated workflow technology and centralization of documents offer well-timed transfer to stakeholders. The shift of users from manual to automated workflow is boosting demand for document imaging software.
  • In terms of value, cloud-based deployment is identified as a preferred alternative.
  • Companies are migrating from traditional server host to cloud host, fueling document imaging market growth.
  • Software will create an incremental opportunity of over US$ 70 Bn.
  • Sales of document imaging solutions are projected to be high in Western European and North American countries owing to strong presence of market leaders.

Cloud-Hosted Software with Infrastructure Management Service

Many companies are preferring cloud-hosted document imaging software to reduce their hardware maintenance costs and complexities. In addition, companies also choose vendors who offer features such as cloud hostage and maintenance services. Thus, they can grab the opportunity to increase their customers by providing such facilities and features through their document imaging software.

In November 2021, Xerox Corporation announced the launch of new ECi e-automate software. This new integration shortens many back-office tasks from days to hours.

Competitive Landscape

Many major document imaging system manufacturers tend to invest heavily in product innovation to discover increased applications of document imaging. Using printing technology, suppliers seek to expand their partner base to accelerate their business transformation and growth goals.

  • Hewlett-Packard Company
  • Epson
  • Canon Co., Ltd.
  • Fujitsu Co., Ltd.
  • Toshiba Corporation
  • Newgen Software Technology Limited
  • Adobe Systems, Inc.

More Valuable Insights on Document Imaging Market

Future Market Insights, puts forward an unbiased analysis of the global market for global document imaging market, providing historical data for period 2014-2021 and forecast statistics for the period 2022-2029.

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Document Imaging Market Research by Categories

By component:

  • document imaging software
  • document imaging hardware
    • scanner
    • printer
    • microfilm reader
    • Other

By Distribution criteria:

  • On-premises document imaging
  • Cloud document imaging

 By end-user:

  • Agency
  • law firm
  • doctor’s practice
  • educational institution
  • Other

Region:

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

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Desktop as a Service (DaaS) Market is Projected to Total US$ 17.8 Bn by 2029 – Report by FMI

The Desktop as a Service Market is expanding at a healthy 18.1% CAGR from 2022 – 2029. The market size is projected to be a total of US$ 5.5 Bn in 2022 and US$ 17.8 Bn by 2029.

The rising adoption of cloud-based solutions and services, climbing ICT investments, increasing penetration of smart devices, and increasing digitalization in the workspace are the key factors shaping the growth of the desktop-as-a-service market.

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Key Takeaways from Desktop-as-a-Service Market Study

  • Most of the desktop-as-a-service solution providers are eyeing to expand their operations in Asia Pacific region as the region is witnessing rapid growth in cloud computing industry and continuous evolution in IT infrastructure models.
  • Desktop-as-a-service is proving to be successful for small and medium enterprises due to low IT budget concerns. Moreover, the adoption of desktop-as-a-service is increasing among large enterprises for agile and temporary use cases.
  • Data privacy and security remain a key challenge for the growth of desktop-as-a-service market. However, with high innovation in cloud security area, this limitation is likely to be addressed in the near future.
  • Most of the desktop-as-a-service solution providers are focusing on partnering with the hyper scale vendors to leverage platform agility and offer customer choice a choice for desktop-as-a-service solutions with enhanced security options.
  • Demand for desktop-as-a-service in BFSI industry is likely to increase at whopping CAGR of ~22% during the forecast period.

Growth of Cloud Computing to Augur Well for DaaS Market

Cloud computing has been developed for approximately two decades, and it offers businesses with many benefits, which include business efficiencies and cost benefits. With the growing number of web-enabled devices used in today’s business environment, such as smartphone and tablets, access to data is becoming easier and it is encouraging businesses to adopt desktop-as-a-service solutions. In addition to this, the increasing adoption of advanced technologies such as advanced analytics, robotics, and artificial intelligence solutions are expected to have a positive impact on the growth of desktop-as-a-service market.

The global desktop-as-a-service market continues to witness a fair degree of consolidation in competition landscape, with tier-1 vendor accounting for 50% revenue share. Some of the key players in the desktop-as-a-service market are Amazon Web Services, VMware, IBM, Microsoft, NetApp, Cloudalize, and Fujitsu, and Citrix Systems. Leading companies are focusing on partnerships and collaborations with cloud IT service providers to help businesses simplify the process to move workloads and data to the cloud.

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Desktop as a Service (DaaS) Market by Category

By Solution:

  • Desktop-as-a-Service Solution
  • Services
    • Consulting
    • Technical Support
    • Managed Services

By Enterprise Size:

  • Small & Medium Enterprises
  • Large Enterprises

By Deployment:

  • Public
  • Private
  • Hybrid Cloud

By Industry:

  • BFSI
  • Media & Entertainment
  • Government
  • IT & Telecom
  • Healthcare
  • Manufacturing
  • Education
  • Others

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Automotive Cups and Glass Holder Market Segmentation Application, Technology & Analysis Research Report up to 2032

Globally Automotive Industry has witnessed significant transformation owing to globalizations across the globe. Moreover, technological innovations and developments in automotive industry has also created heaving competition among automotive vendors of various region. Furthermore, with the growing disposable income, the consumers are more focused towards comfort provided by the vehicle during the journey. Therefore, accessories used in the interior of the vehicle are also playing most crucial role in deciding the vehicle to be purchased by consumers. Forcing the designers to put additional efforts for the interior of the automobile. Additionally, development and introduction of Automotive cups and glass holder is one of the essential innovation in the automotive industry.

This can be attributed to the increasing consumption of beverages within the vehicle or during driving has forced the manufacturers to introduce automotive cups and glass holders at desired location with the automobile according to the need and vehicle category. Automotive cups and glass holder seems like a simple accessory in a vehicle, but the technological development leads to introduction of a spill free cups and glass holder. Furthermore, the automotive cups and glass holder market is projected to grow with a healthy CAGR during the forecast period.

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Global Automotive Cups and Glass Holder Market: Regional Outlook

Globally, the automotive industry is predominately dominated by Asia Pacific region. The region is holding significant shares in the global automotive cups and glass holder market. Additionally, the region is also projected to grow with healthy pace and maintain its prominence throughout the projected period of time. The significant increase in the population of the region mainly of China and India is creating new demand for automobiles every year, making the automotive cups and glass holder market lucrative in the region. Furthermore, the presence of leading manufacturers of automobiles in the European region is making the region to hold noteworthy share in the global automotive cups and glass holder market. Germany to lead the overall demand for automotive cups and glass holder in the European market. The market in Latin America is also anticipated to hold significant potential owing to the positive outlook of the automotive market of Brazil. Therefore, Brazil is set to drive the Latin America automotive cups and glass holder market and projected to hold healthy share in the future.

Global Automotive Cups and Glass Holder Market: Market Participants

  • Bestek
  • APA/URO Parts
  • GenuineXL
  • AutoTrust Gold
  • Dorman
  • Rugged Ridge
  • Replacement
  • Crown
  • Rampage
  • Smittybilt
  • Vertically Driven Products
  • Febi
  • RT Off-Road

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Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, Italy, France, U.K, Spain, Russia, Poland)
  • South Asia (India, ASEAN)
  • East Asia (China, Japan, South Korea)
  • Oceania (Australia & New Zealand)
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

Global Automotive Cups and Glass Holder Market: Segmentation

The global automotive cups and glass holders market can be segmented on the basis of location, orientation, vehicle type, sales channel and region.

On the basis of location, the global automotive cups and glass holders market is segmented as:

  • Retractable Cup and Glass Holder
  • Built-In Cup and Glass Holders
  • Console Cup and Glass Holder
  • Dashboard Cup and Glass Holder
  • Armrest Cup and Glass Holder
  • Door Trim Cup and Glass Holder

On the basis of orientation, the global automotive cups and glass holders market is segmented as:

  • Flexible Cup and Glass Holder
  • Fixed Cup and Glass Holders

On the basis of vehicle type, the global automotive cups and glass holders market is segmented as:

  • Passenger Car
  • Compact
  • Mid-Size
  • Luxury
  • SUV
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Trucks & Trailers
  • Buses & Coaches

On the basis of sales channel, the global automotive cups and glass holders market is segmented as:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

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Report Highlights:

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

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High Performance Message Infrastructure Market is Predicted to Expand at a Prolific CAGR of 14.4% Between 2022 and 2029

A new research report by Future Market Insights on the high performance message infrastructure market provides significant insights, which consist of the global industry analysis 2014–2021 and forecast 2022 – 2029. According to the market research report, the overall market is projected to expand at a prolific CAGR of 14.4% between 2022 and 2029, surpassing a valuation of US$ 3.37 Bn by 2029.

Furthermore, the global high performance message infrastructure market is anticipated to experience notable growth during the forecast period, due to various driving factors, such as growth in the cloud computing industry, increasing IT infrastructure investment, and rising demand for Big Data and Software Development and Information Technology Operations (DevOps).

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Primary trends in the global high-performance message infrastructure marketplace include inclination towards interconnectivity between applications, sites, partners, providers, employees, customers, all devices.

Adoption of Integration Platform-as-a-Service (iPaaS) and event-driven architecture continues to broaden in developing and developed countries all over the world. It is expected that various opportunities will be found for key players in the high performance message infrastructure market over the forecasted period.

According to Future Market Insights’ report, the Big Data use case is anticipated to generate an incremental opportunity of ~US$ 520 Mn for the high performance message infrastructure market during the forecast period of 2019-2029.

Moreover, the event-driven architecture segment is likely to experience high growth rates during the forecast period, owing to growing demand for packaged applications and IT services.

Furthermore, the world is witnessing a significant rise in search-based analysis, predictive model markup language, and text & entity analysis, which, subsequently, is initiating potential growth opportunities for the high performance message infrastructure market.

Key Players Focus on Expanding their Business in APAC

Leading players in the high performance message infrastructure market are focusing on extending their businesses across Asian Pacific countries such as India and China. Increasing investment in digitalization infrastructure by the governments attracts various high performance message infrastructure providers to extend their business in these countries.

Moreover, the healthy economic growth of countries in the region, together with the continuous adoption of advanced technology, including the Internet of Things (IoT), Platform-as-a-Service (PaaS), are creating substantial growth opportunities for the high performance message infrastructure market.

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For instance, in August 2019, The Apache Software foundation organized Hadoop community meet up at Beijing, China, with 200 spots available for registration to attend this meet up in person. Participants introduces recent trends in the storage field, such as better scalability and moving towards cloud in the Asia Pacific region.

For instance, in June 2019, TWILIO INC. announced its expansion in the Japanese market. The company also announced new partnerships with seven regional consulting partners.

Cloud-integrated Solutions Playing an Essential Role in Market Growth

There are increasing scope of applications related to software-as-a-service (SaaS) or cloud-based data storage. Such factors have promoted the high performance message infrastructure market players to adopt expansion and product differentiation strategies to gain a distinct competitive edge as well as enhance their market presence, catering to each specific end-use industry.

For this, high performance message infrastructure providers are frequently increasing their investments on product developments and research & development activities to enhance their product offering awareness to the end-user 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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commercial refrigeration compressor Market 2022: Increasing Demand for Efficient Management Practices Report

The commercial refrigeration compressor market was estimated by Future Market Insights (FMI) to be worth US$ 8,567.6 Mn in 2022 and to grow at a CAGR of 4.3% to US$ 13,090.8 Mn by 2032. Over the projected period, it is expected that use of natural and energy-efficient refrigerants will continue to rise.

The global demand for commercial refrigeration compressors is expected to show promising growth, with a value CAGR of higher then 4% over 2022-2029. An increase in food & beverage production, along with the expansion of cold chain capacities to ensure minimize wastage and efficient storage of food, is expected to increase the demand for commercial refrigeration compressors, worldwide, over the forecast period.

The commercial refrigeration compressors market is expected to grow at a promising rate during the forecast period, supported by the increasing number of retail stores across the globe.

Furthermore, positive change in living standards and improving macroeconomic scenario have led to a significant surge in the number of organized retail stores, worldwide.

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The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment.

Commercial Refrigeration Compressors Market Analysis by Region

From a regional perspective, East Asia is a projected to be a prominent market, owing to significant growth of retail stores in the region. Europe is projected to hold a value share of around 19% in the global commercial refrigeration compressors market.

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The market in Asia Pacific is anticipated to expand at a relatively high growth rate, owing to the increasing demand for refrigerated display cases, beverage vending refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors in the market.

The commercial refrigeration compressors market in China is expected to be a lucrative market, and is projected to grow at a value CAGR of nearly 6% during the forecast period.

Commercial Refrigeration Compressors Market: Vendor Insights

The report highlights some of the main companies that are operating in the global commercial refrigeration compressors market, such as Emerson Electric Co., HUAYI COMPRESSOR CO., LTD., Mitsubishi Electric Corporation, LG Electronics, Inc., The Danfoss Group, Panasonic Corporation, BITZER SE, GEA Group AG, Frascold S.p.A., Fusheng Co., Ltd., Nidec Corporation, Midea Group, Officine Mario Dorin S.p.A., Johnson Controls – Hitachi Air Conditioning, and Tecumseh Products Company LLC.

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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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diamond core drilling Market 2021 Size, Growth Analysis Report, Forecast to 2031

Future Market Insights (FMI) predicts that the global diamond core drilling market will expand at a healthy 6% CAGR and surpass a market value of US$ 1.8 Billion. Diamond core drilling sales are anticipated to rise as major manufacturers place a strong emphasis on automation and product customization.

The report predicts that the market will grow at a healthy rate of 5.2% year over year (YoY), with shipments expected to reach 42,000 units by 2031.

According to the findings of future marketplace Insights’ (FMI) record, the diamond core drilling marketplace is projected to experience tremendous growth over the forecast duration.

Alongside these, technological advancements in business automation, and demand for custom-designed drilling machines, the marketplace is anticipated to attain a cargo of 42,000 units at some stage in the forecast length (2021 -2031).

With the increasing demand for customized and automated drilling machines, the market is expected to reach the value of US$ 1.8 Bn in 2021. Growth in the market is attributed to the rising mineral production across developing economies, including India, China, and Japan.

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As per FMI, the market registered an increase of 2% in 2021 registering year-on-year (YoY) growth of 5.2%. Due to the rising rate of fatalities and accidents at constrictions and mining sites, the government is pushing for the adoption of rig-operated drilling machines instead of hand-held.

Key Takeaways from FMI’s Diamond Core Drilling Market Study

  • In terms of end-use, the construction industry will hold the majority of the share however increasing mineral production rate across the globe will increase the application of diamond core drilling in the mining industry
  • Due to stringent safety protocols and increasing fatalities in mining industries, the adoption of rig-operated drilling machines is increasing, boosting segment growth
  • Based on drilling technique, stitch drilling is expected to account for lion’s share in the global diamond core drilling market
  • Germany is expected to be one of the most lucrative markets owing to the presence of leading companies
  • India is expected to witness lucrative growth opportunities backed by rising application in the mining and construction industry
  • China will lead East Asia’s diamond core drilling market owing to the favorable government initiatives to increase the adoption of automated drilling machines

“With the surging application of diamond core drilling in construction and mining industries, end-users are focusing on efficiency and precision. To meet the growing requirement for increased productivity, key manufacturers are extensively adopting advanced and cutting-edge technologies for automation and customization. This will widen the growth prospects for manufacturers in the forthcoming years,” says the FMI analyst. 

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Competitive Landscape

The dominance of the top five players has left the market consolidated, creating an entry barrier for new players in the global diamond core drilling market. Adoption of inorganic growth strategies to gain exposure in the overseas territories is one of the major factors expected to create growth opportunities.

Future Market Insights identifies Hilti Corporation, Epiroc AB, Bogart Longyear, Robert Bosch, and Husqvarna AB among the top 5 players in the diamond core drilling market. The contribution of these top 5 players in global market revenue, collectively, is estimated to be around 13.6%.

Key manufacturers are focusing on technological advancement and product customization which is expected to expand their regional footprints in the industry, spurring sales.

For instance, Barsele Minerals Corporation, on 7th June 2021, announced the resumption of diamond drilling activities which included drilling for 3,000 meters to test orogenic gold and volcanogenic massive sulfides. The drilling exploration program is operated through a joint venture with Agnico Eagle Mines Limited.

The company also announced the acquisition of Agnico Eagle’s indirect 55% interest in the Barsele Project and upon completion of the drilling project, the company will take over Agnico Eagle Mines Limited, consolidating 100% control.

Also, in June 2021, another manufacturer, Tectonic Metals Inc. announced the company’s exploration plans, anchored by two oriented diamond drilling campaigns, Tibbs Gold Project and Seventymile Gold Project in Alaska. The company is using rotary air blast drilling to carry out the exploration program.

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Get More Insights on Global Diamond Core Drilling Market

The research report analyzes the demand for diamond core drilling across the globe. The diamond core drilling market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed based on operation type, drilling type, drilling technique, end-use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply-side and demand side.

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About Future Market Insights (FMI)

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

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Legal, Risk and Compliance Solution Market is Estimated to Cross US$ 20 Billion by the end of 2032

A Future Market Insights market research study on the legal, risk, and compliance solution market offers important insights and examines the market for the projected period of 2019–2029. According to the report’s findings, the market for legal, risk, and compliance solutions is expected to produce global revenues of about US$ 8.4 billion in 2019.

Furthermore, the legal, risk and compliance solution market is expected to experience a substantial growth over the upcoming years. It is due to various factors such as increasing adoption of big data and IoT in legal, risk and compliance solutions, growth in industrial IoT, and obligatory implementation of GRC solutions in enterprises.

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Adoption of legal, risk and compliance solution in the industrial sector helps in dealing with the top labor and employment issues, thereby enhancing various operational processes. Introduction of new technologies and driverless cars along with rapid digitization and automation is further likely to augment the growth of the legal, risk and compliance solution market.

On the basis of FMI report, the component of legal, risk and compliance solution is projected to generate an incremental opportunity of US$ 20 Bn during the forecast period of 2019 to 2029. As compared to services, the legal, risk and compliance solution software is anticipated to witness prominent growth rate during the forecast period, owing to the increasing demand for policy management and enterprise risk management.

Furthermore, the software supports an organization risk management processes, which include internal audit, internal control, business continuity, vendor/3rd party management, information security, enterprise and operational risk management, which in turn, is accelerating the legal, risk and compliance solution market growth.

Increased Number of Risk Factors and Business Complexities

The legal, risk and compliance solution effectively manages, monitors, and defines the external and internal business environments. Increasing business complexities and changing regulatory requirements in recent years, are expected to drive the legal, risk and compliance solution market growth.

The solutions are also used to provide higher quality information to management, process optimization, better capital allocation, improved effectiveness, protected reputation, and reduced costs for all industry verticals. Furthermore, the rising number of risk factors against business data is generating potential growth opportunities for the legal, risk and compliance solution providers.

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Managing Policies and Regulations in the Government Sector

Implementing a transparent and uniform process in government organization is expected to bolster the demand for legal, risk and compliance solutions. These solutions help in managing environmental, health & safety (EH&S), liquidity and credit risks along with managing quality and stakeholder expectation and controlling high cost for aging infrastructure. Further, the need for managing policies, regulation, and business performance effectively in the government sector due to increased regulatory pressures is likely to accelerate the market growth.

Demand for Legal Document Management Solutions to Reduce Paper Work

Importance of maintaining historical company records coupled with rising adoption of paperless solutions are significant factors that are driving the growth of the legal, risk and compliance solution market. Multiple organizations are going paperless to pursue new ways of making business and new opportunities to reach across various channels and bring new customers, partners, and revenue. Cloud-based computing solutions have been developed as the key enablers of the document management system (DMS).

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

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oil & gas valves Market Trends 2022| Segmentation, Outlook, Industry Report to 2029

By the end of 2022, the  oil & gas valves market is anticipated to reach more than US$ 12.5 Bn. During the forecast period of 2022-2029, the global market for oil & gas valves is expected to grow at a 3.5% CAGR.

The global oil and gas valves market was valued at approximately US$ 10 billion in 2014. The global oil and gas valves market is expected to be worth more than US$ 11 billion by the end of 2022. The oil and gas valves market is expected to grow at a CAGR of more than 3% between 2022 and 2029, reaching a value of nearly US$ 16 billion by the end of 2029.

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Future Market Insights’ (FMI) market study titled, ‘Oil & Gas Valves Market: Global Industry Analysis 2014–2021 and Opportunity Assessment 2022–2029’, analyses the global oil & gas valves market, and provides an in-depth analysis on the forecast period of 2019-2029.

Downstream Applications Contributing a Major Share to Oil & Gas Valves Market

By product type, the global oil & gas valves market has been segregated into gates, globes, balls, butterflies, checks, PRVs, and others. The gate type of oil & gas valves are estimated to continue recording a high market value share throughout the projected period, while recording a high CAGR simultaneously.

With respect to the different sizes of oil & gas valves, the oil & gas valves market has been segmented into 0.25 to 8 inches, 8 to 20 inches, and above 20 inches. By the end of the year 2029, the 0.25 to 8 inch-sized oil & gas valves segment is estimated to hold more than half of the global oil & gas valves market share.

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With regards to application, the global oil & gas valves market has been segregated into upstream, midstream, and downstream applications. The downstream applications of oil & gas valves are estimated to contribute the most to the market size of the global oil & gas valves market.

Rising Energy Need and Multiple Oil and Gas Projects in Pipeline Accelerate Market Growth in Developing Countries

Among all the regional markets, the oil & gas valves market in North America is estimated to account for over one-fourth of the global oil & gas valves market share throughout the forecast period, due to continuous advancements in the North American oil & gas and shale industry.

With a booming oil & gas industry in the Western Africa and Northern African countries, the oil & gas valves market in the Middle East & Africa is estimated to record the second-largest market share throughout the forecast period.

The oil & gas valves market in China, India, and Brazil are estimated to be emerging markets due to the growing energy needs, new oil & gas projects, improved economic conditions, and continuous industrialization and urbanization in these countries.

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The oil & gas industry is extremely competitive, due to the high presence of established market players. This, in turn, makes the oil & gas valves market fairly fragmented. Leading market players in the oil & gas valves market are very well-established across all the regional markets.

Some of the key vendors in the global oil & gas valves market are Emerson Electric Co., CIRCOR International Inc., Schlumberger Limited, PARKER HANNIFIN CORP, Weir Group Plc., Metso Corporation, and BHGE (BAKER HUGHES, a GE Company), among others.

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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 7-years.

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Underground Mining Equipment Market Size, Share, Trends, Industry Analysis: Research Methodology By Forecast To 2029

In 2022, it is anticipated that the underground mining equipment market will be worth US$15.9 billion. Market valuation is anticipated to reach US$ 18.8 Bn in 2029, with sales increasing at a steady 2.4% CAGR.

According to the survey, manufacturers are increasingly adopting automatic underground mining equipment to keep up with current trends in the ever-changing mining business, which will result in tech-driven revolutions in the landscape.

Furthermore, strict emission regulations in the mining industry, such as controlled diesel emissions and personnel safety, are likely to spur innovations that will help the industry deal more effectively with the relentless pricing pressure and mitigate the environmental impacts of new-generation underground mining equipment.

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Advanced techniques of mining and their impacts on various socio-economic factors have been a prolonged concern worldwide. The shift of a majority of miners from surface or open pit mining to underground mining has further amplified concerns vis-a-vis human safety and the environmental impacts.

Technology is emerging as the most efficient tool for introducing enhanced features in underground mining equipment, and FMI’s study examines the influence of advancements in technologies and other microeconomic factors on the growth of the underground mining equipment landscape.

Mineworkers’ Staunch Inclination towards Hard Rock Mining Equipment

FMI’s study finds that every 7 out of 10 underground mining equipment sold in 2021 were designated to applications associated with hard rock mining platforms. Increasing demand for hard rock minerals, such as copper, gold, zinc, and lithium, in wide-ranging industries has given rise to hard rock mining activities in the mining industry.

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Leading players in the underground mining equipment landscape are focusing on catering to the thriving need for improved productivity in underground hard rock mines with the launch of next-generation mining equipment.

In addition, conventional hard rock mining techniques result in the release of toxic gases including carbon dioxide (CO2), and Sulphur dioxide (SO2) among others, which is triggering the adoption of electric equipment in hard rock mines.

In addition, the study finds that coupling of underground mining equipment that can carry out multiple operations including parallel cutting, loading, and hauling operations are likely to witness high demand in the coming years.

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Visibly Growing Preference for ‘Rental’ over New

In rough terrains such as the mining industry, constant wear and tear of mining equipment lead to high replacement rates, incurring significant depreciation costs to the end users.

As large mining machinery, including underground mining equipment, come with a significantly high price tag, purchasing a new equipment creates the need for high capital investments.

A majority of miners are inclined towards purchasing used or refurbished equipment, even considering the option of renting rather than investing in new underground mining equipment.

Since a majority of mining businesses are looking for reducing their initial investments, rental service providers are likely to gain traction among in the coming years.

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FMI’s study finds that more than half the revenue share is accounted by rental service providers in the underground equipment market.

Increasing end user preferences for rental equipment are fostering the progression of this trend in the market. A mounting number of rental service companies are offering refurbished mining equipment that are specifically tailored to suit the requirements of the underground mining sector.

The FMI report also finds that leading stakeholders and investors in the underground mining equipment landscape are zooming in their strategic focus on providing rental service packages to suit changing needs of their customers, regarding the inventory of equipment.

About Future Market Insights (FMI)

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

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Energy & Power Quality Meters Market Expected to Surpass US$ 4.41 Billion by 2029, Growing at a Robust CAGR of 7.5% During the Forecast Period 2022-2029

The Energy and Power Quality Meters Marketis forecasted to reach US$ 4.41 Bn by 2029 and exhibit a remarkable 7.5% CAGR between 2022 and 2029. Moreover, the global energy and power quality meters market is projected to experience significant growth over the forecast period, due to multiple driving factors, such as growth in Industrial IoT, increasing rate of electrification, and rising demand for next-generation power quality meters.

According to the report, industry 4.0 is rapidly changing industrial production capabilities and drastically changing industrial processes. This revolution is generating demand for energy and power quality meters to monitor the distortions in voltage and harmonics, which further is contributing to the growth of the energy and power quality meters market through 2029.

Moreover, the adoption of energy and power quality meters in the industrial sector helps in preventing damage to expensive and critical equipment. It is expected to boost the demand for energy and power quality meters in 2019 and beyond.

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Furthermore, in the industrial sector, the energy and power segment is expected to witness high growth rates during the forecast period, owing to the growing demand for electrification in residential and commercial sectors. Furthermore, the world is witnessing rapid increase in generation, transmission, and distribution of energy, which, in turn, is creating potential growth opportunities for the energy and power quality meters market.

Manufacturers of energy and power quality meters are focusing on expanding their businesses across countries in Asia Pacific such as China and India. The increasing investment by governments of these countries in industrial and digital infrastructure is attracting various manufacturers to expand their operations in these countries. Furthermore, the strong economic growth of countries in this region along with the continuous industrialization and increasing rate of urbanization and electrification is creating potential growth opportunities for the energy and power quality meters market players.

For instance, according to IEA (International Energy Agency), in 2000, more than 40% of global energy demand was in Europe and North America and some 20% in developing economies in Asia. However, by 2040, this situation will be completely reversed.

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Increasing Competitive Product Profile Playing a Crucial Role in Market Growth

The increasing scope of applications related to power quality equipment and a competitive market has, in turn, resulted in product differentiation and expansion strategy by the advanced power quality meter manufacturers to provide a competitive edge and strengthen their market presence specifically to the desired end-use industry market.

For this, advanced power quality meter manufacturers are continuously increasing research and development and product development activities in order to improve their product awareness levels to the end-consumers and minimize the hazardous effects associated with surpassing the environmental regulations and norms in end-user industries.

According to FMI Analysis, during 2015-2018, the average spending by major manufacturers in RandD and new product development has been accounted for 3% 3.5% of overall sales. Also, the average rate of product launches made by major advanced power quality meter manufacturers have been in the range of 2-3 products per year.

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Energy and Power Quality Meters Market By Category

By Topology:

  • Standalone
  • Embedded in Controller/PLC
  • Multi Circuit
  • Portable Units

By Application:

  • Network and Branch Circuit Monitoring
  • Power Quality Compliance Monitoring
  • Energy Cost Management
  • Others

By End-Use Industry:

  • Critical Buildings
  • Commercial Buildings
  • Industrial

By Region:

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

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:        
Future Market Insights
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
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United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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