Market Research Blog

Hemophilia therapy has improved dramatically in recent years due to the introduction of new products. In addition, several government and non-government groups are stepping forward to raise awareness of hemophilia symptoms, diagnosis, and treatment.

The high prevalence of hemophilia drives the significant need for quality hemophilia treatment. As a result, several countries are developing creative techniques to improve access to high-quality care for hemophiliacs. For example, innovative methods have been created in Germany to improve the monitoring of these and other associated disorders.

Furthermore, in recent years, awareness of the need for early-stage diagnosis and treatment and its potential impact has increased dramatically throughout European countries, driving demand for a product that would greatly simulate market income. The high prevalence of hemophilia drives the significant need for quality hemophilia treatment.

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The high expense of hemophilia therapy, on the other hand, may have a negative impact on market growth. According to the National Hemophilia Foundation, the average cost of hemophilia treatment is over USD 300,000 per year, which has a substantial influence on operation margins, especially in today’s capitated reimbursement environment.

The emergence of the COVID-19 pandemic slightly impacted the hemophilia treatment market negatively, owing to disruption in the global supply chain and logistics. Furthermore, the impact of the coronavirus outbreak on the industry peaked during early 2020, wherein patients suffering from such ailments were at a higher risk of suffering from coronavirus as they were more prone to infectious diseases.

Owing to these factors, the hemophilia treatment market is expected to reach US$ 16.5 Bn in 2027.

Key Takeaways:

• Hemophilia A, a disease segment accounting for around 82% of the total revenue share, dominated the market in 2021.
• In 2021, the adult patient category was worth USD 6,898 million. Hemophilia is becoming more common in the adult population.
• In 2021, the prophylaxis segment was worth USD 7,998 million. This preventive medication helps to decrease hemophilic arthropathy and disability and the need for orthopedic surgery, resulting in a better quality of life.
• During the forecast period, the injectables segment is predicted to grow at a rate of over 4.9 percent due to the effective method of drug administration.

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Competitive Landscape:

Some of the major key players in hemophilia treatment markets are Bayer Healthcare, Biogen, Biotest AG, CSL Behring, Ferring B.V., Genentech, Kedrion, Novo Nordisk, and Octapharma, among others.

Major important players have used advanced technologies to meet the needs of consumers and gain a substantial market share.

• Novo Nordisk received FDA approval for its biologics license application for Esperoct in February 2019. This medication is intended to reduce the frequency of bleeding episodes in children and adults with congenital factor VIII deficiency. This launch aided the corporation in introducing new items, giving it a competitive advantage.
• Valoctocogene roxaparvovec (valrox) is a novel hemophilia gene therapy treatment developed by BioMarin that eliminates all bleeds and injects blood clotting factor VIII (FVIII) in patients, is expected to get FDA clearance in 2020.

Bayer Healthcare gained FDA approval for a new prolonged half-life hemophilia treatment in August 2018. A product for patients aged 12 and up. Jivi is a rFVIII replacement therapy that has been licensed for the treatment of bleeding. This approval aided the corporation in broadening its product offering globally.

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Key Segments

• Hemophilia A
• Hemophilia B

• Paediatric
• Adult

• Prophylaxis
• On Demand

• Factor Replacement Therapy
• Non-factor Replacement Therapy

• Vasopressin
• Coagulation Factor

• Injectable
• Nasal Spray

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa

About 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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[311 Pages Report] The extracorporeal membrane oxygenation systems market is progressing steadily with a CAGR of 5% from 2022-2032, as per the extracorporeal membrane oxygenation systems market analysis by Future Market Insights (FMI).

The spend analysis software market is estimated to grow by more than 18.4% CAGR from 2021-2031. Spend analysis software provide flexibility to organizations and provides real-time synchronization across the on-premises or cloud. It helps to calculate statistical analytics accessing options and traditional data processing while moving across the stream of data. Spend analysis is a process of collection, cleansing, analyzing and classifying expenditure data for the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance.

According to latest research by, spend analysis software market is set to witness higher growth during 2021-2031. The market will show highest growth in coming years, owing to factors such as increasing adoption of software in various enterprises organizations across the globe, rising adoption of SaaS based software, and increasing use of cloud based deployment solutions. Moreover, security and data breach issues hampers the growth of the spend analysis software market.

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What is Driving Demand for Spend Analysis Software Market?  

The factors such as increasing adoption of software in various enterprises organizations across the globe, rising adoption of SaaS based software, and increasing use of cloud based deployment solutions is expected to drive the demand for the spend analysis software market.

Spend analysis software helps in financial planning and maintain transparency which spurs various opportunities to the growth of the business. Rising adoption of the Business Intelligence (BI) is also one of the driving the demand for spend analysis software market.

Increasing Demand for Advanced technology such as big data and the cloud computing technology is driving the adoption of Spend Analysis Software Market      

Increasing adoption for advanced technology such as big data and the cloud computing technology is driving the adoption of spend analysis software market. Such technologies used in predictive analytics. Predictive analytics & data provides helps in their decision making, discoveries about the companies, solve and deselect complicated business problems, and identify the competitive benefits.

Thus rising need for predictive analytics is been of the driving factor for the demand for spend analysis software market. Also rising adoption of spend analysis software solutions in various industries such as retail, supply chain and logistics, manufacturing, BFSI is expected to fuel the demand for the spend analysis software market.

Who are the Major Vendors of Spend Analysis Software Market?

Some of the leading vendors and companies of spend analysis software market include

• SAS Institute Inc.
• SAP SE
• IBM Corporation
• Coupa Software Inc.
• Oracle Corporation
• Zycus Inc.
• Empronc Solutions Pvt. Ltd.
• Rosslyn Analytics Ltd.
• JAGGAER

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Spend Analysis Software Market Report Highlights:

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

Key Segments

By Solution:

• Spend Analysis Software
  • Cloud Based
  • On-Premises
• Services
  • Managed services
  • Professional services
    • Consulting services
    • Support and maintenance

By Analytics Type:

• Predictive
• Prescriptive
• Descriptive

By Business Function:

• Finance
• Information Technology (IT)
• Marketing
• Procurement

By Organization Size:

• Small and Medium Enterprises (SMEs)
• Large enterprises

By Industry:

• Manufacturing
• Retail and e-commerce
• Government and defense
• Healthcare and life sciences
• Telecommunications and IT
• Energy and utilities
• Banking, Financial Services, and Insurance (BFSI)
• Others (construction, real estate, and education)

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By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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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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The VCSEL (Vertical-cavity Surface-emitting Laser) market is set to witness steady growth during 2021-2031. One of the major growth drivers for the VCSEL market happens to be the growing adoption of 3D sensing applications in smartphones coupled with rising in market investment for VCSEL manufacturing. Furthermore, due to increasing applications in in-cabin monitoring and LiDAR, the automotive industry offers substantial growth opportunities for VCSEL suppliers.

What is Driving Demand for VCSEL?

Major factors driving the growth of VCSELs happen to be the increasing 3D sensing applications in smartphones. 3D camera sensing makes use of a dot projector, flood illuminator, and proximity sensor which are all based on laser components of VCSEL. Hence, the increasing implementation of 3D sensing applications in smartphones is fueling the market growth.

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Moreover, VCSELs offer numerous advantages, such as optical efficiency, relatively low cost, wavelength stability, low power consumption, and higher modulating rates. Such factors have resulted in an upsurge in the adoption of VCSELs in 3D sensing applications in the market.

Multimode is Expected to Grow at the Highest CAGR in the VCSEL market by Type

The multimode VCSEL segment is anticipated to grow at a higher CAGR over the forecast period. Multimode VCSELs are primarily being used for 3D sensing applications. Moreover, multimode VCSELs are capable of offering higher data transmission rates over short reach as more than one optical mode is permitted inside the laser cavity.

Owing to their flexibility and wider application areas, the market for multimode type VCSEL is anticipated to hold the largest market share. Multimode VCSELs are also projected to grow at a significant CAGR owing to major applications in data centers and consumer electronics across the globe.

US and Canada VCSEL Demand Outlook

U.S. happens to be one of the major markets for VCSEL across the globe. The growth in U.S. is attributed to the presence of established players such as Lumentum, Broadcom, Coherent, FLIR, NeoPhotonics, Lytek Corporation, Leonardo Electronics, Ushio America, and Thorlabs, among others in the region.

Moreover, US happens to be one of the most competitive and rapidly changing markets across the globe. Besides, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries in the world.

Europe Demand Outlook for VCSEL

Technological advancements in consumer electronic products, such as tablets and smartphones, have significantly augmented the demand for VCSELs across sensing applications.

Furthermore, VCSELs offer better optical competency than any other semiconductor materials and at affordable cost. Owing to this, there has been a rise in demand for VCSELs across different application areas in the Europe region.

Who are the Key Manufacturers and Suppliers of VCSEL?

Some of the leading providers of VCSEL include

• Lumentum
• II-VI Incorporated
• ams
• TRUMPF
• Broadcom
• Vertilite
• Coherent
• Alight Technologies
• Connector Optics

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VCSEL Market Report Highlights:

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

Key Segments

By Type:

• Single-Mode
• Multimode

By Material:

• Gallium Arsenide (GaAs)
• Indium Phosphide (InP)
• Others

By Wavelength:

• Red
• Near-Infrared (NIR)
• Shortwave Infrared (SWIR)

By Sensing:

• Sensing
• Data Communication
• Industrial Heating & Laser Printing
• Emerging & Other Applications

By Industry:

• Consumer Electronics
• Data Center
• Automotive
• Commercial & Industrial
• Healthcare
• Military
• Others

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By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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[341 Pages Report] According to a recent analysis from Future Market Insights, the global sepsis diagnostics market size is predicted to reach US$ 1.3 billion by 2032. Furthermore, it is expected to grow at a CAGR of 9% throughout the projection period. Over the projected period, the increased prevalence of sepsis, the development of technologically enhanced diagnostic methods, and growing government programs are expected to increase the number of active sepsis diagnostics companies.

According to FMI research, the mobile payment security market was valued at US$ 1.1 Tn in 2022 and is predicted to reach US$ 7.8 Tn by 2032, growing at a 21.5% CAGR. The demand for mobile payment security solutions is predicted to grow globally throughout the forecast period as the number of digital payments, such as credit/debit cards, mobile wallets, and internet payments increases.

One of the key factors driving the growth of the mobile payment security industry is the increasing frequency of data breaches. As the number of data breaches rises, so makes the amount of money lost as a result of them. As a result, the demand for mobile payment security solutions is increasing.

The increasing sales of mobile payment security solutions can also be related to the rising needs of the Payment Card Industry Data Security Standard (PCI DSS) rules, increased end-user knowledge of mobile payment security, and government attempts to promote cashless payment.

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Furthermore, the demand for mobile payment security solutions is predicted to grow due to recent technology advancements in mobile commerce. This factor has enabled consumers to undertake digital transactions such as purchasing goods and applications through wireless networks, redeeming coupons and tickets, banking, and completing point-of-sale payments from their smartphones.

The expanding use of wireless networks among individual consumers has boosted the sales of mobile payment security solutions. Mobile payment security has become more important as the use of wireless networks in mobile devices for payment in retail outlets has expanded.

The mobile payment security market is likely to rise significantly as a result of the recent outbreak of COVID-19, owing to the growing use of digital payment services. However, the mobile payment security market’s expansion is being hampered by a lack of trust in online banking.

Increased demand for mobile payment security solutions for digital ecommerce and increased use of payment applications across various business verticals, on the other hand, is likely to provide lucrative opportunities for mobile payment security market expansion throughout the forecast period.

KEY TAKEAWAYS:

• On the basis of type, the biometrics segment of the mobile payment security market is expected to grow at the fastest CAGR of 21.0% through 2032.
• By end-use, the banking & financial service is expected to grow at a high rate in the mobile payment security market, with a CAGR of 20.6% through 2032.
• The market size for mobile payment security in the United States is expected to reach US$ 2.8 Tn by 2032, growing at a CAGR of 21.2% during the forecast period.
• UK is expected to register a market share of US$ 334.6 Bn in the mobile payment security market by 2032, with a CAGR of 20.4% during the forecast period.
• China’s mobile payment security market is expected to be worth US$ 534.7 Bn by 2032, with a CAGR of 20.9% over the forecast period.
• Japan is expected to have a market size for mobile payment security of US$ 434.3 Bn by 2032, with a CAGR of 19.8% through 2032.
• By 2032, South Korea is expected to reach a share of US$ 255.5 Bn in the mobile payment security market with a CAGR of 18.9% through 2032.

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COMPETITIVE LANDSCAPE:

Due to the large number of firms operating in both domestic and foreign markets, the mobile payment security market is extremely competitive. The market is moderately concentrated, with technological breakthroughs and mergers & acquisitions being the primary methods employed by the big competitors. BioCatch, Braintree, Carta Worldwide, Daon, and Duo are among the key players in the mobile payment security market.

Key segments

By Type:

• Tokenization
• Biometrics

By End Use:

• Telecom & Information Technology
• Banking & Financial Service
• Government
• Transportation
• Retail
• Entertainment and Media
• Other

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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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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[296 Pages Report] Increase In awareness regarding advanced skincare products and rising prevalence of chronic diseases are expected to drive skincare market. According to a study by Future Market Insights (FMI), the global skincare market is forecast to reach a valuation of US$ 8,823.4 Mn in 2021.

The rising prevalence of several infectious diseases has necessitated innovation in the skincare market. According to the World Health Organization (WHO), the prevalence of chronic diseases was expected to increase by 57.0% by 2020, which indicated that a significant percentage of the population would suffer from chronic ailments. Also, the global outbreak of pandemics such as H1N1, Ebola, and others are boosting the requirement of different hand and skin hygiene products such as hand sanitizers, which is indicative of growth opportunities for the market.

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Skincare products such as skin cleansers, hand sanitizer, skin conditioners, and surgical scrubs are increasingly used to maintain skin hygiene and to prevent the spread of infections. The rising prevalence of chronic diseases and increase in demand for hand sanitizers amid COVID-19 pandemic is expected to boost the growth of the skincare market.

Moreover, increasing incidence of hospital-acquired diseases such as surgical site infection (SSI) is creating opportunities for growth. Sales will surge further as a result of the increasing awareness about advanced skincare products. Social media & innovative online campaigns aimed at creating awareness are therefore reshaping the skincare market.

Increasing market consolidation activities, adoption of strategic agreements among the leading manufacturers and increasing research activities aimed at launching effective products are some of the factors enabling growth. Some of the leading players are aiming to strengthen their product portfolio by launching a various online campaign. For instance, in 2021, Galderma Laboratories, L.P.-Cetaphil launched an innovative digital campaign to connect with millions of consumers experiencing skin sensitivity.with the market expected to exhibit a CAGR of 8.1% during the forecast period (2021-2031)

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Key Takeaways from Skincare Market Study

Skincare market is expected to rise at 8.1% CAGR between 2021 and 2031
High willingness among consumers to spend on personal health and hygiene will drive growth in the U.S., which will account for over 85% of sales in North America by 2031
The U.K. will remain a key market for skincare products within Europe. Rising demand from various hospitals, healthcare, and critical care centers will continue supporting growth
Expansion of the healthcare sector will push growth in Germany, which will account for maximum skincare products sales within Europe’s healthcare sector
Strong growth is likely in China, as consumers increasingly focus on hygiene and sanitization to prevent the risk of infection

Key Players :

• 3M Company
• Cardinal Health, Inc.
• Ecolab
• Whiteley Corporation
• Reckitt Benckiser Group PLC
• Carrollclean
• Johnson & Johnson Consumer Inc.
• Galderma laboratories, L.P.
• PDI, Inc.
• Betco Corporation
• Pal International
• PSK Pharma Pvt. Ltd.
• Metrex Research, LLC.
• Gojo Industries, Inc.
• Unilever
• Steris Plc.
• Procter & Gamble

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Skincare Market by Category

Product

• Skin Cleansers
• Hand Sanitizers
• Surgical Scrubs
• Skin Conditioners
• Other

Form

• Liquid
• Gel & Lotions
• Wipes
• Spray & Foams

End-user

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Diagnostic Laboratories
• Reference Laboratories
• Rehabilitation Centers
• Long Term Care Centers
• Critical Care Centers
• Pharmaceutical & Biotechnology Companies
• Academics and Research Institutes
• Homecare Settings

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA)

About 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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The Mobile Messaging Market registered a 15.9% CAGR during the forecast period (2022-2032), to reach US$ 384 Bn by the end of 2032. Around 2.7 billion phone messaging app users worldwide and nearly 40% of the global population sending and receiving messages make the mobile messaging market huge, helping multiple businesses and people with texting solutions.

Businesses use mobile messaging services to connect to their customers for promotions and marketing campaigns designed for potential visitors, including email marketing campaigns and text messages, integrating them with the digital marketing strategy.

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Companies push their inspirational and educational content through portal and website links, including the app’s push notification and WhatsApp for business platform. A study shows that almost 109 countries run texting campaigns for end users. There is a set number of mobile texting consumers that are not tech-savvy, and mobile texting is the only way that they connect with each other and share information, fuelling the demand for mobile texting services.

Brands also use social media messenger in order to reach the end-users and send informative, life and technology hacks that engage with a lot of potential customers. This also helps the mobile messaging market is expanding its roots in new market spaces.

KEY TAKEAWAYS:

• The short messaging services from the mobile messaging market are expected to grow at the fastest CAGR of 24% in the service type category, helping it to reach US$ 340.07 Bn.
• The multiple messaging services segment is expected to grow at a strong CAGR of 18.2% in the type category of the mobile messaging market. The mobile email segment is growing at a high CAGR of 21.3%, including a 20.7% CAGR in the USA, Canada, Japan, China and Europe.
• United States is expected to reach a market size of US$ 55.79 Billion in the Mobile messaging by 2032.
• The market size for Master recharge APIs in China is expected to reach US$ 217.15 Billion by 2032, growing at a CAGR of 28.7% during the research period.
• Canada’s Mobile messaging market is expected to thrive at a CAGR of 20.9% over the forecast period.
• Japan’s Mobile messaging is expected to flourish at a CAGR of 18% during the research period (2022-2032).
• While Germany is the largest consumer within Europe, thriving at a CAGR of 19.6% between 2022 and 2032.

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COMPETITIVE LANDSCAPE:

Some of the mobile messaging market’s key competitors profiled in the research are Orange SA, KDDI Corporation, LM Ericsson Telefon AB, Nokia Corporation, Numerex Corporation, SK Telecom Co. Ltd, T-Mobile US Inc, Verisign Inc, Vodaphone Group PLC and BT Group PLC.

Key Segments

By Type:

• Hardware
• Software

By Application:

• OEMs
• Aftermarket

Based on Component:

• Platform
• A2P Service

Based on Deployment Mode

• On-premises
• Cloud

Based on Traffic:

• National
• Multi-country

Based on Vertical:

• Banking, Financial Services, and Insurance
• Retail and eCommerce
• Hyperlocal Businesses
• Healthcare
• Travel and Hospitality
• 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 10-years.

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The Microlearning Market registered 11.4% CAGR during the forecast period, to reach US$ 6.3 Billion by the end of 2032. As covid-19 has pushed corporates to opt for remote work procedures, the need for upskilling the workforce with the latest technological innovations and equipping them with cutting-edge innovative technologies is a must. This fuels the growth of the microlearning market.

Microlearning involves various courses, including skill-based programs, result-oriented training and enterprise-specific programs, enhancing the workforce that improves the workflow. As the competition in industries rises, companies digitize their spaces and upskill their workforce. This skilled workforce enhances productivity and makes the work more efficient and easier, helping the business expand their space in new market spaces.

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Different elements of a business such as processes, compliances, security, machines, hardware and software are connected to technicians, IT experts, workers, drivers and other workers. Microlearning aware these workers about the various components of a company and their work, unifying them in order to get better results.

Integration of multiple technologies like artificial intelligence, AR, VR and gamification with the ed-tech platforms are expected the expand the microlearning market in new industries while making the learning easy, accessible and systematic. Lack of awareness and impetus amongst workers, along with low capital investment by corporate players, are declining the growth of the microlearning market as covid-19 has damaged various types of businesses.

KEY TAKEAWAYS:

• Manufacturing from the microlearning market’s vertical category is the biggest segment in the category and will hold the largest market space in the forecast period.
• On-premise from the microlearning market’s type category is the biggest segment in the category and will hold the prominence space in the forecast period.
• USA, Canada, Japan, China and Europe hold a 6% CAGR that is estimated for the slurry segment of transporting media category.
• Asia Pacific is the emerging market space in the microlearning market, attributing to the higher return on investment (ROI), talent development and increased upskill training.
• The market size for the microlearning market in China is expected to reach US$ 1.16 Billion by 2032, growing at a CAGR of 11.8% during the research period.

• The market size of the microlearning market in the United States is expected to reach US$ 1.66 Billion by 2032.
• Canada’s microlearning market is expected to thrive at a CAGR of 10.4% over the forecast period.
• Japan’s microlearning market is expected to flourish at a CAGR of 10.8% during the research period (2022-2032).
• Germany is anticipated to grow slowly at a CAGR of 8.9% between 2022 and 2032.

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COMPETITIVE LANDSCAPE:

Some of the microlearning market’s key competitors profiled in the research are Qstream Inc, AlertDriving, Aptara Inc, Axonify Inc, Bigtincan, Cornerstone, Epignosis, IBM Corporation, Mindtree.com, pryor.com, Saba Software, SwissVBS, Gnowbe, mLevel and Neovation Corporation.

Key Segments

By Component:

• Solution
• Services

By Deployment Type:

• On-premises
• Cloud

By Organization Size:

• SMEs
• Large Enterprises

By Industry:

• Retail
• Manufacturing and Logistics
• BFSI
• Telecom and IT
• Healthcare and Life Sciences
• Others

By Region:

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

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As per ESOMAR-certified consulting firm Future Market Insights’ (FMI’s) recent market analysis, growth is on the cards for the global automated guided vehicles (AGV) market. The report forecasts the market valuation to reach US$ 996 Mn in 2021, growing at an impressive 7.9% CAGR through 2031.

Rapid urbanization and adoption of industrial automation within logistics, transportation, and healthcare industry across the globe will propel sales. Owing to the growing need of automation, the market experienced year-on-year growth at 5.4% in 2020-21.

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Growing automation in material handling solutions will enhance growth prospects during the forecast period. Also, laser-guided AGVs will gain immense popularity among manufacturers as they offer greater precision and reliability.

Reduction in labor costs, human errors, and round-the-clock accessibility of AGVs are key factors increasing the adoption within end-use industries.

Expansion of automotive, consumer goods, retail, and oil & gas industries in developed countries such as the U.S., the U.K., and Germany will continue to boost sales. This will allow AGV manufacturers to focus on capacity expansion, creating growth opportunities over the coming years.

Expansion of production facilities across India, China, South Korea, and Brazil also will boost the AGV sales. Deployment of AGVs to streamline operations with reduced costs and added productivity will also aid the growth in these economies.

“Growing need for industrial automation is expected to boost the adoption of AGVs over the coming years. With increasing adoption of AGVs within automotive, healthcare, logistics, and e-commerce industry, key players will witness lucrative growth opportunities during the forecast period,” says the FMI analyst

Key Takeaways from Automated Guided Vehicle Market Survey

• In terms of technology, laser-guided AGVs will dominate the segment due to their highly accurate navigation systems.
• Based on end-use, logistics sector will generate high demand for automated guided vehicles.
• Increasing application in transportation will foster the AGV sales during the forecast period
• Tow vehicles will emerge as the most preferred vehicle type in the automated guided vehicle market.
• The U.S. is projected to witness high demand for automated guided vehicles, owing to the presence of various end-use industries.
• The U.K. will showcase a positive demand outlook, due to expansions in the automotive and eCommerce industry.
• China will provide lucrative opportunities for AGV manufacturers due to high production volumes in manufacturing industries prevailing in the country.
• India will experience demand for automated guided vehicles, owing to the increasing adoption of industrial automation within logistics sector

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Competitive Landscape

JBT Corporation, Daifuku Co., Ltd., Kuka AG, Omron Adept Technologies, Inc., Kion Group AG, Oceaneering International Inc., Transbotics Corporation, AGVE Group, Inc., Seegrid Corporation, Murata Machinery, AVT Europe NV, SSI Schaefer, Toyota Industries Corporation, Cassioli Srl, Robotnik, Mecalux, S.A, Kollmorgen, Bastian Solutions, Inc., and E&K Automation GMBH are some top manufactures operating in the automated guided vehicle market.

As per FMI’s analysis, key manufacturers will account for approximately 43% of the total market share. Key strategies leveraged by players in the automated guided vehicle market include production facility expansions, coupled with strategic partnerships aimed at product innovation to support the growing demand for AGVs.

• In May 2021, Daifuku Co. Ltd. announced the establishment of a new production facility in Boyne City, Michigan. The production plant will facilitate the manufacturing of AGVs for airports, automotive, and eCommerce industries, including world-famous Amazon.
• In June 2021, Seegrid Corporation launched the new Tow Tractor Series 8 with enhanced features such as excellent navigation, extended field of view, and shorter clearance height for managing various cart trains. The product line features Smart Path technology, increasing the fleet’s ability to navigate safely and moving materials reliably in high-traffic facilities.

Automated Guided Vehicle Market by Category

By Technology Type:

• Laser Guidance
• Magnetic Guidance
• Infrared Guidance
• Wire Guidance
• Inertial Guided
• Optical Guided

By Application Type:

• Transportation
• Distribution
• Storage

By Vehicle Type:

• Unit Load Carrier
• Pallet Truck
• Assembly Line Vehicle
• Tow Vehicle
• Forklift Truck
• Light Load Transporters

By End Use:

• Logistics
• Healthcare
• Automotive
• Manufacturing
• Food & Beverages
• Aerospace

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Key Points Covered in Automated Guided Vehicle Market Survey

• Market estimates and forecast 2021-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Automated Guided Vehicle Market and how to Navigate
• Recommendation on Key Winning Strategies

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:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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