Market Research Blog

The Hard Disk Drive Market is reaching a valuation of US$ 38,489.9 Mn in 2022 to US$ 80,873.0 Mn by 2029 and is expected to exhibit an 11.2% CAGR over the forecast period, 2022-2029. With multiplying data volumes encouraging enterprises to procure upgraded data storage technologies, the hard disk drive market is set for steady growth during the next decade.

HDD manufacturers launch upgraded hard disk drive storage capacity formats at intervals of every two to three years. This would be a continuing trend in the global hard disk drive market over the forecast period (2022 – 2029), suggests a new Future Market Insights (FMI) report.

As data storage capacities of hard disk drives continue to increase, leading manufacturers such as Toshiba are frequently rolling out hard disk drive storage technology upgrades. Consequently, magnetic storage remains highly preferred option for long-term high-capacity data backup and archiving, which would further push hard disk drive sales.

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Key Takeaways – Hard Disk Drive Market Study

• Network-attached Storage (NAS) hard disk drives that currently hold a market share of over 2/5^th, would remain top selling in the global market for HDD. With the highest estimated incremental opportunity to be attained through 2029, NAS HDDs will continue to see double-digit growth over the period of projection.
• Sales of hard disk drives with storage capacities of up to 1 TB and above will collectively account for three-fourth of total HDD sales. Low storage capacity, though relatively less preferred, continues to witness sustained traction.
• USB port hard disk drives that currently make up for over a third of total sales will see steady adoption in the near future. Whereas, plug-in power sources of HDDs are set to gain popularity.
• Geographic expansion and collaborations with other hard disk drive providers would be the preferred developmental strategies of key players in HDD market.

Offline Functionality of HDD Storage Technology Remains USP

Owing to persistent ransomware attacks on networks of various organizations, customers have started procuring efficient magnetic storage technologies. Presence of an air gap acts as a security measure that isolates hard disk drives and prevents them from establishing external network connections.

This prevents the information stored on these tapes from falling prey to cyber-attacks, as they are not connected to the enterprise network, at least when switched off. Hard disk drive storage technology also trumps cloud infrastructure in this condition. Offline functionality of hard disk drive storage technology will thus bolster growth of the global hard disk drive market during the forecast period.

Insufficient Storage Capacities Continue to Limit Market Growth

Manufacturers in the hard disk drive market are focusing on enhancing data storage capacities to efficiently cater to massive digital data volumes. The relatively low availability of digital storage capacities will however continue to create a sizeable digital gap throughout the forecast period. The insatiable demand for enhanced data storage capacities in hard disk drives would thus restrict the market growth to a large extent in the near future.

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Know More About FMI’s Hard Disk Drive Market Study

Future Market Insights offers an unbiased analysis of the global hard disk drive market, providing historical data for 2014-2021 and forecast statistics from 2022-2029. To understand opportunities in the hard disk drive market, the market is segmented on the basis of drive type, storage capacity, drive interface, and power source, across seven major regions.

Hard Disk Drive Market Outlook by Category

By Drive Type :

• Portable HDDs
• Desktop HDDs
• Network-attached Storage HDDs

By Storage Capacity :

• Less than 250GB
• 250GB – 1TB
• Above 1TB

By Drive Interface :

• USB 3.0
• USB 2.0
• USB 3.1 Gen1
• USB 3.1 Gen2
• Ethernet
• Others

By Power Source :

• Small Facility
• AC Adapter
• USB Port
• eSATA Bus
• Plug-in

Region :

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Japan
• Middle East and 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 7-years.

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The Automotive connectors are of two types such as sealed and unsealed connectors. The sealed connectors are used in engine compartment and unsealed connectors are used under the vehicle body. Rising demand for automotive safety are driving needs for sophisticated automotive sensors during the forecast period.

The maximum electrical connections in a car are made of copper cables. Nowadays, major manufacturers are replacing copper cables with plastic optical fiber (POF) for increase data transmission, design flexibility and reduce vehicle weight. Plastic optical fiber needs sophisticated automotive connectors. Rising demand for plastic optical fiber in the automotive industry is driving the demand for automotive connectors.

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Automotive Connectors Market – Novel Developments

Key players major strategy lies in focusing on cutting edge technologies which are specialized but comprehensive. Moreover, leading players in the Automotive Connectors market are also channelizing their efforts toward mergers and acquisitions as a crucial part of the company’s growth & expansion strategy.

• In July 2019, Amphenol Corporation partnered with SV Microwave, to provide a number of millimeter wave and SMPx coaxial connectors and cable assemblies for automation and robotics development.
• In May 2019, Sumitomo Electric Industries, Ltd. has acquired Sinterwerke Herne GmbH, and Sinterwerke Grenchen AG, for expand its sales channels to cover European automakers and components manufacturers and increase the presence of its powder metal products business in Europe, and further global business opportunities

Automotive Connectors Market- Dynamics

Automotive Connectors Market- Safety and Security Features

Safety and security features such as cruise control, keyless entry, lane departure warning, anti-theft alarm system, and auto emergency braking useful in avoiding fatal accidents as well as provide higher levels of security. Such advanced features are integrated within a vehicle using a considerable number of electronic components. Connectors play a significant role in offering proper power distribution to electronic components. These factors are increasing the demand for automotive connectors market during the forecast period.

Automotive Connectors Market- Growth in Electric Vehicles

Increasing in adoption of electric vehicles with a target to control vehicle emissions has led to increase in usage of electronic components in vehicle. The automotive industry is undergoing a transition phase due to increased adoption of autonomous cars and vehicle to vehicle communication.

The rising demand for vehicular communication is expected to drive the automotive connectors market growth. In automotive industry, electronics usage has grown steadily over the last few years, due to the introduction of advanced features such as driverless features, voice commands, etc. As the industry is moving towards hybrid and electric vehicles the opportunity for automotive connectors is also increasing globally.

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Automotive Connectors Market- Development of Combined Connector Technology

The development of combined connector technology is significant trends which expected to gain traction in the automotive connectors market. Combined connector technology increases wire retention, PCB attachment capabilities, offer robust resistance to shock, high temperatures, thermal expansion, and vibration over long period of time. Combined connectors are more reliable than conventional cable for connecting two PCBs, that are near but not in the same orientation or alignment location.

Also, the development of combined automotive connectors technology is estimated to meet the increasing demand for efficient and reliable connectors for automotive applications in harsh environments.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global automotive connectors market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with automotive connectors market attractiveness as per segments.

Automotive Connectors Market- Segmentation

By product type

• IC
• PCB
• Fiber Optic
• RF
• Others

By accessories

• Connector Caps & Covers
• EMC Shielding
• Locks and Position Accessories
• Other Connector Accessories

By connectivity

• Wire to Board
• Wire to Wire
• Others

By application

• Car
• Truck
• Bus
• Off-Road

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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 Connected Energy is as system in which electricity, gas and thermal grids are combined with storage technologies and coordinated to identify the synergies between them to achieve the optimal solution for each individual sector as well as overall energy system.

Connected energy shows large potential for reducing energy bills of businesses and houses and can also help to cut the increasing oil and gas imports. Connected energy is flexible and intelligent system that ensures energy supply, storage and consumption while promoting cohesion between energy supply and demand.

The connected energy system is built around three grid infrastructure including smart electricity grids, smart thermal grids, and smart gas grids.

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Impact of COVID-19 Pandemic Outbreak on Connected Energy Market

The COVID-19 pandemic in Q1, 2020 has resulted in a shutdown of commercial and industrial establishment and even stoppage of railways services globally. This has adverse effect on electricity demand. But there is slight increase in demand for electricity by residential sectors as more people are staying at home due to lockdown across the countries.

As Italy has become an epic centre for COVID-19 pandemic the Italian grid experienced a significant reduction in electric demand as high as 18-21% reduction in demand. Other European countries have also observed decreasing demand for electric including Spain observed a decrease in electric demand by 5.6%, and French grid experienced 15% decrease in electric demand.

In New York City the electric demand has dropped by 9 to 10% due to full lockdown in the city. However, according to estimates, if the COVID-19 pandemic situation gets controlled during Q3-Q4, 2020, the electric demand will increase after the lockdown is over.

Connected Energy Market: – Market Dynamics

Increasing Adoption of Smart Grid is spurring the growth of Connected Energy Market

Smart grid technology is made up of two-way communication technology, computer processing and control systems. These system includes advanced sensors known as Phasor Measurement Units that helps operators to assess grid stability, relays that sense and recover from fault in the substation automatically, smart meters that gives information to the consumer and automatically report outages automated feeder switches that re-route power around problems.

Adoption of smart grid is increasing as smart grid helps is reducing peak demand that helps to lower electricity rates, also helps the transmission of electricity efficiently. However, due to these features of smart grid the adoption of smart grid is increasing which is spurring the growth of connected energy market.

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Increasing demand of Smart Meters for Detail and Accurate Analytics

Smart meters are used to manage and record electricity and performance of electronic devices. The demand of smart meter is increasing as the smart meters has the ability to provide accurate and detailed information regarding electricity usage in real-time without a technician.

Smart meter helps to reduce the number of blackouts and system-wide electricity failures. However, the connected energy market is witnessing high demand due to adoption of smart meters.

Connected Energy Market: – Key Players

Key players in the Connected Energy market are focusing on and strategic partnerships and with the technology vendors to collaborate for offering digital transformation solution and services for sustained business growth. The major players offering Connected Energy solutions include –

• GE Energy
• Itron
• Sensus
• Siemens
• ABB
• S&T
• Wasion Group Holdings
• Elster Group GmbH, among others.

Connected Energy Market: – Segmentation

By Application, Connected Energy Market is segmented into-

• Smart Grid
• Smart Solar
• Home Energy Management Systems
• Digital Oilfields
• Others

By End user, Connected Energy Market is segmented into-

• Commercial
• Residential
• Industrial

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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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Global demand for Large Format Display (LFD) is expected to be valued at US$ 13,564.2 Million in 2022, rising at a 5.8% CAGR to US$ 23,876.3 Million from 2022 to 2032. Growth is attributed to an increase in digital signage applications.

Continuous advancement in display technology is creating demand for better picture quality displays for residential, commercial, industrial as well as educational purpose. Large format displays offer high resolution picture quality which create a lasting experience. Large format displays are used for several purposes such as for projecting posters, advertisements or general messages for customers. Furthermore, interactive features such as touchscreen capabilities make these displays a primary choice for commercial purpose.

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Large format displays market is witnessing rapid technological changes, for instance, introduction of electronic paper large format displays. These are low power, ultra-thin and sunlight readable which makes them ideal for use in outdoor applications in transportation, retail and gas stations among others.

Large Format Display Market: Drivers and Restraints

Primary driver for large format displays is the availability of ultra-high definition displays with enhanced readability features. These features help display pristine image quality with readability from virtually every angle. Also, large format display is making big impact on digital signage market. Retail is one of the most important segments driving the growth of large format displays.

However, high cost deter many end-users to adopt these large format displays. Instead they opt for low cost LCD displays. Also, fluctuating prices of display panels and alternative wide screen options also hamper the growth of market.

Global Large Format Display Competitive Landscape

Some of the major Large Format Display vendors include Barco NV, E Ink Holdings, Inc., Leyard Optoelectronic Co., Ltd., LG Display Co., Ltd., NEC Corporation, Samsung Electronics Co., Ltd., Sharp Corporation, Sony Corporation and TPV Technology Ltd. and among others.

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Key Segments Profiled In The Large Format Display (LFD) Industry Survey

Large Format Display (LFD) Market By Technology:

• Large Format Display (LFD) with LED backlit display
• Large Format Display (LFD) with OLED
• Large Format Display (LFD) with e-Paper

Large Format Display (LFD) Market By Type:

• Video Wall Large Format Display (LFD)
• Standalone Large Format Display (LFD)

Large Format Display (LFD) Market By Application:

• Indoor Large Format Display (LFD)
• Outdoor Large Format Display (LFD)

Large Format Display (LFD) Market By End-User:

• Commercial Large Format Display (LFD)
• Retail Large Format Display (LFD)
• Hospitality Large Format Display (LFD)
• Healthcare Large Format Display (LFD)
• Government, and Command and Control Centers Large Format Display (LFD)
• Infrastructural Large Format Display (LFD)
• Sports and Entertainment Large Format Display (LFD)
• Transportation Large Format Display (LFD)
• Industrial Large Format Display (LFD)
• Educational Large Format Display (LFD)
• Others

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Large Format Display (LFD) Market By Region:

• North America Large Format Display (LFD) Market
• Latin America Large Format Display (LFD) Market
• Europe Large Format Display (LFD) Market
• Asia Pacific Large Format Display (LFD) Market
• Middle East & Africa Large Format Display (LFD) Market

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

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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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Short-term demand for surgical masks remains unprecedented, however, growing awareness regarding their effectiveness will lead to steady sales in the long-term, according to a latest study by Future Market Insights. According to the study, even after the COVID-19 pandemic is brought under control, a sizeable percentage of people are likely to continue wearing masks in crowded places, and cities where pollution levels are high.

Key Report Takeaways

• The global surgical masks market is forecasted to surge past valuation of US$ 4.2 Bn by 2030
• Basic surgical masks and fluid/splash resistant surgical masks are expected to collectively account for 80% of market value, each holding a share of near-equal proportions.
• The adoption of basic surgical masks is concentrated among general consumers while fluid/splash resistant surgical masks find a majority of takers among medical professionals.
• By end-use, hospitals are foreseen to channel the majority of revenue, capturing more than 70% of market value.
• Ambulatory surgical centers are anticipated to remain the second-most lucrative market, accounting for more than 1/5th of global market value.
• Europe is poised to capture the lion’s share in market value, accounting for a share little below 2/5th of market value.

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“Market players are leveraging the unprecedented demand for surgical masks created by the pandemic and are focusing on increasing their brand visibility,” remarks FMI analyst.

Through the years, surgical masks have remained one of the most prominent protective equipment among healthcare professionals while performing medical procedures.

Surgical masks offer protection against exposure to harmful bacteria and other organisms present in the blood and other bodily fluids that the medical professionals are likely to come in contact with during surgical procedures.

As the number of surgeries continues to increase in direct proportion with the expanding base of the geriatric population, the demand for protective surgical equipment, including surgical masks, is expected to prevail high for the years to come.

As per the statistics of The Lancet, the number of surgeries conducted across the world surged passed 313 Mn in recent years and continues to rise year-on-year, offering substantial revenue opportunities to market players.

Likewise, high levels of air pollution in East Asian nations such as China, South Korea, and Japan have made wearing masks a common practice among the population of these regions.

Besides, the sales of masks in the aforementioned regions have historically witnessed an upsurge during the flu seasons. On these lines, the outbreak of COVID-19 is creating an unprecedented demand for surgical masks, as they become an integral part of routine during the pandemic.

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COVID-19 Impact on Surgical Masks Market

The outbreak of COVID-19 has proven fruitful to the manufacturers of surgical masks, as demand for surgical masks has never been higher. As the number of infections continues to spike in large nations such as the US, India, Brazil, and Russia, with no vaccine approval in sight, people are resorting to all kinds of protective measures in their routine.

On this premise, surgical masks have emerged as the most accessible and efficient safety measure, and have become an integral part of their lives. Surgical masks are currently among the most sought out essentials and are poised to remain through the pandemic, thus catalyzing the overall market growth.

Who is Winning?

Key players operating in the market are capitalizing on the demand created during the pandemic and are upscaling their production capacities to gain a competitive edge. Moreover, market players are focusing on procuring approvals for new products to distribute on a wide-scale. On these lines,

• 3M is committed to producing 50 Mn masks to the US medical authorities during the pandemic.
• Similarly, Honeywell International has expanded its manufacturing capacity in its facility located in Smithfield, Rhode Island, to cater to the growing demand.

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FMI’s report includes profiles of some of the most prominent names in the market including 3M, Honeywell International Inc., and Medline Industries, Inc., Halyard Health (Owens & Minor, Inc.), Kimberly-Clark Worldwide, Inc., Medline Industries, Inc., Moldex-Metric Inc., Kowa Company Ltd., Premium HealthCare Disposables Private Limited, Kindwell Medical BioClean (ANSELL LTD.), Dynarex Corp., and Valmy among others.

To Know More About Surgical Masks Market

A new market research report published by Future Market Insights (FMI) on the global surgical masks market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product, end-use, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.

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.

Contact:

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Future Market Insights (FMI) recently published a market report titled ‘Cross-Platform and Mobile Advertising Market – Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.’ The cross-platform and mobile advertising market is playing an important role in the advertising industry because of the increasing penetration of the Internet, globally. Companies with cross-platform and mobile advertising platforms are working with social media platforms such as Facebook, Instagram, and many more to provide the advertisement of products and services. Moreover, e-Commerce websites are also advertising ads of different clients and brands to the user, which in turn boosts the cross-platform and mobile advertising market.

The global cross-platform and mobile advertising market is estimated to expand at a CAGR of over 21% during the forecast period. This stellar growth in the global cross-platform and mobile advertising market can be attributed to the global advertising industry with rising globalization and digitalization.

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In addition, with technological advancements in analytics, cross-platform and mobile advertising firms are able to offer various customized solutions to their clients. These are the factors that are driving the cross-platform and mobile advertising market. The South Asia region is expected to hold a prominent share of the cross-platform and mobile advertising market as compared to other regions. The established cross-platform and mobile advertising platform providers in the market are providing innovative cross-platform and mobile advertising platform for different industries such as retail, automotive, IT & Telecom, manufacturing, among others.

Future Market Insights has segmented the global cross-platform and mobile advertising market advertisement type, platform, end user, vertical, and region. By advertisement type, the market is segmented into search, native media, display, video, SMS, and audio. The cross-platform and mobile advertising market in several countries is playing a vital and important role by offering multiple advertising services in almost every domain.

On the basis of end user, the cross-platform and mobile advertising market is segmented into small and medium enterprises and large enterprises. The large enterprises sub-segment is expected to hold a prominent market share throughout the forecast period. However, the small and medium enterprises sub-segment is expected to continue to find new areas of applications of cross-platform and mobile advertising in different regions. This is expected to enable the cross-platform and mobile advertising market to record the prominent growth rate during the forecast period.

The cross-platform and mobile advertising market is also finding new applications and deployments in other industry verticals as well. Geographically, the presence of a large number of cross-platform and mobile advertising platform providers in North America is estimated to enable the cross-platform and mobile advertising market in the region to hold the highest market share by the end of 2018. The cross-platform and mobile advertising market in South Asia is projected to record the prominent growth rate as compared with other regional cross-platform and mobile advertising markets. Continuous advancements in the digital advertising sector are expected to facilitate the high growth rate of the South Asia cross-platform and mobile advertising market.

According to FMI analysis, acquisitions, strategic mergers, and partnerships cross-platform and mobile advertising platform providers are expected to enable the market players to increase their revenue generation and sales. Google and Facebook are expected to hold the largest shares of the global cross-platform and mobile advertising market during the forecast period. Some of the market participants profiled in the global cross-platform and mobile advertising market report are Google, Inc., Facebook, Inc., SAP SE, Verizon Digital Media Services, Inc., 4INFO, Apple, Inc., Amobee, Inc. (SingTel), Inmobi, Microsoft Corporation, and AdColony.

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Key Segments

On the basis of advertisement type, the global cross-platform and mobile advertising market has been segmented into:

• Search
• Native Social
• Display
• Video
• SMS
• Audio

By platform, the global cross-platform and mobile advertising market has been segmented into:

• Smartphones
• Tablets
• Desktops
• Smart Televisions

On the basis of End User, the global cross-platform and mobile advertising market has been segmented into:

• Small and Medium Enterprises
• Large Enterprises

On the basis of end-use, the global cross-platform and mobile advertising market has been segmented into:

• Telecom and IT
• Finance & Insurance
• Media & Entertainment
• Retail
• Healthcare & Social Assistance
• Energy and Utility
• Public Administration
• 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 ePassport Market Expanding at a CAGR of 22.9%, the global ePassport industry is projected to increase from a valuation of US$ 41.9 Bn in 2022 to US$ 144.4 Bn by 2028.

The local data structure (LDS) format, traditionally employed in ePassports, have been witnessing changes recently. With the International Civil Aviation Organization (ICAO) working on new version of LDS, called LDS2, which will retain the backward compatibility while incorporating read-write function. This will further extend the functionality of ePassport with applications that enable storage of travel data, including travel stamps and Visas, coupled with other information that include special programs or advanced biometrics for special passengers.

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Prominent Trends Governing Global ePassport Market

The global ePassport market report highlights various supply and demand side trends along with strategic recommendations and a detailed analysis of the ePassport market on the basis of various segments.

With the growing incidences of terror attacks and illegal activities on an international level, there is a strong demand for data encryption and data protection. Regulatory bodies such as ICAO, IATA, and ACI have formed numerous protocols to improve border security and thus, ePassports have been witnessing strong demand.

The roadmap for LDS2 has birthed new concepts apropos of use and collection of passenger information, which in turn is expected to have far-reaching implications for the airports. With refugee crisis and rise in international terrorism, demand for counterfeit and stolen passports has been on the rise, which has led governments and airlines to better their security systems. Advent of ePassport alludes a future with more data transmission capability to a tamper-resistant and secure integrated circuit (IC), thereby revolutionizing airport security and reducing waiting times in long queues.

RFID Remains Preferred Technology while Biometrics Gain Marked Significance

According to the study, RFID technology has witnessed widespread adoption in ePassport generation, with global sales estimated at over 207,396 thousand units in 2018. New applications of RFID for ePassport have been introduced, however considerable privacy and security risks have been identified recently. This has led to the incorporation of multistage authentication for verification of ePassports, resulting in the adoption of biometrics in combination with RFID to reduce identity theft and fraud, while aiding governments in furthering their border security.

Omnipresence of biometric technology continues to enable thorough, yet time-effective screenings with the aid of chip readers, which is particularly pervasive in commercialized settings such as the hospitality industry. As biometric technology becomes vital for national security, converging digital and physical identities via ePassports is viewed as commendable solution for improved efficacy and accuracy of border security. The study estimates the number of ePassports integrated with the biometric technology to register Y-o-Y growth at more than 18% in 2019 over 2018.

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ePassport Market Players Eyeing Long-term Contracts with Governments

According to the study, companies operating in the ePassports market have been taking efforts to submit tenders and acquire supply contracts for ePassport developments and deployments. The multi-year service contract of Gemalto N.V. for British passports is a prime example of such instances. Key players in the ePassport market have been concentrating on the development & deployment of highly-encrypted ePassports, as new-generation passports witnessed increased incorporation by using PACE and SAC.

Lack of infrastructure developments and relatively expensive nature of ePassports remain key growth impediments for their market growth. ePassport penetration is currently limited to developed markets, and several developing economies are yet to introduce the biometric and electronic variants, particularly held back by lack of capital and technological know-how.

The study estimates Europe to lead the ePassport market in 2019, with East Asia following the suit. The market in East Asia is further projected by the study to outgrow all the other regional markets in the near future, with efforts of countries to improve their border security by introducing technologically advanced features in their passports.

ePassport Market Survey by Category

By Technology

• RFID
• Biometrics

By Application

• Business Travel
• Leisure Travel

By Security

• Basic Access Control
• Password Authenticated Connection Establishment
• Supplemental access Control
• Extended Access Control

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Region:

• North America
• Latin America
• Europe
• Middle East and Africa
• East Asia
• South Asia
• Oceania

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The rising incidence of non-communicate diseases is creating scope for novel and advanced imaging technologies. There is immense scope for technologies that offer non-invasive yet precise diagnosis of various types of cancer and cardiovascular ailments. Future Market Insights (FMI) sees the prevailing trends to be highly favorable for the expansion of molybdenum-99 market.

Technetium-99m derived from molybdenum-99 (99Mo) is a key isotope used in radionuclide imaging. It is a part of the technology that non-invasively diagnoses regional metabolic and physiologic processes such as blood flow in the heart to zero down on the affected organ or tissue.

Molybdenum-99 is therefore used as radioisotope in various nuclear medicine diagnostic procedures. With several leading healthcare organizations intending to up their research and development initiatives, the 99Mo is expected to grow considerably in the coming years.

FMI in a recent study has projected the market to rise at a CAGR of 5.2% between 2020 and 2030. The rising willingness among patients and their families to spend on advanced healthcare will bode well for the market. Additionally, government support in the form of favorable reimbursement policies will create lucrative prospects for growth in the coming years.

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FMI identifies various growth drivers and restraints impacting the market’s trajectory in its recent study. The report is intended to evaluate the scope for expansion and investment feasibility in the market. Some of the key takeaways from the report are:

• The market is estimated to be valued at US$ 3.2 billion by the end of 2020
• Supply constraints and looming closure of reactors across various locations are posing threat to growth
• Among hospitals and diagnostic centers, the former is expected to account for the maximum revenue generated in the market
• North America is expected to remain dominant through the forecast period
• Among applications, SPECT segment will hold dominant share in the market

“Companies operating in the market are primarily focusing on research and development to find novel diagnosis methods. Their focus on offering low price therapeutic radiopharmaceuticals is expected to augur well for the market,” said a lead analyst at FMI.

Impact of COVID-19 on MarketThe market for molybdenum-99 is already reeling under inadequate supply. Supply-chain disruptions are not new to the market and the unprecedented pandemic outbreak has only worsened prospects for the market’s growth in 2020.

Lockdown orders enforced across the world have caused significant disruptions in production. Partial and complete lockdown followed in the last couple of months have put a serious dent on the global GDP growth.

The negative impact of the same is felt on the molybdenum-99 market as well. North America and South Asia markets will be more hampered. Recovery however is on cards especially once the novel coronavirus passes and economies start focusing on healthcare concerns other than COVID-19.

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Who is winning?

The market has a consolidated vendor landscape. Tier-1 companies primarily boast dominance. Companies operating in the market primarily focus on research and development initiatives. Besides this, some of them are investing their resources in strategic collaborations and acquisitions to gain competitive advantage.

Other companies such as Advanced Cyclotron Systems, Inc. are focusing on research and development initiatives and establishing facilities in compliance with Good Manufacturing Practices.

Some of the companies profiled in the report are GE Healthcare, IBA, Sumitomo Corporation, Advanced Cyclotron Systems, and Siemens Healthineers.

To Know More About Molybdenum-99 Market:A new market research report published by Future Market Insights (FMI) on the global molybdenum-99 market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – application, end user, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply molybdenum-99 and product adoption across several end-use industries.

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Key SegmentsIsotopic Application

• SPECT
• Gamma Camera

End User

• Hospitals
• Diagnostic Centers

Regional Outlook

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of LATAM)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South 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.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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