Authentication Solution Market is Projected to Reach a Valuation of US$ 56.3 Bn in 2032 | FMI

According to Future Market Insights (FMI), the demand in the authentication solution market will increase at a noteworthy CAGR of around 14.4% from 2022 – 2032. Demand in the market is projected to reach a valuation of US$ 14.7 Bn by 2022 and US$ 56.3 Bn in 2032.

As per Future Market Insights, the increase in need for protecting access management and prevent organizations networks from sophisticated cyber-attacks will drive the growth of the authentication solution market in the forecast period.

An authentication solution is a security measure that improves data and system security. It protects against data loss and security breaches. This solution identifies and allows the user to enter or access the system with the help of user ID and password.

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This also depends on the type of authentication solution implemented in the system like single factor authentication solution or multi-factor authentication solution. It offers layers of security for preventing data and network from cyber-attackers.

Key Takeaways: Authentication Solution Market

  • By authentication type, the single factor authentication solution market is growing dominantly with a CAGR of around 12.9% between 2022 & 2032.
  • By enterprise size, demand for authentication solution from small & mid-sized enterprises (SMEs) is estimated to be growing at a higher rate than large enterprises.
  • By industry, BFSI industry is will hold the highest market share by 2032. However, the healthcare industry is projected to showcase a significant growth of around 18.1% between 2022 & 2032.
  • By region, North America authentication solution market in 2021 was holding the highest market share of around 32.2%
  • South Asia & Pacific region is estimated to grow at a CAGR of around 18.1% in the forecast period.

Increasing number of sophisticated cyber-attacks across industries and data breaches will create conducive environment for authentication solutions market players. This service downtime and data breach severely affects the customer base and network security of these enterprises. To avoid downtime and data breach and to prevent the enterprise network from cyber-attacks, companies are implementing the authentication solution says FMI analyst.

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Global Authentication Solution Market Outlook by Category

By Authentication Type:

  • Single Factor Authentication
  • Multi Factor Authentication

By Enterprise Size:

  • Large Enterprises
  • Small and Mid-Sized Enterprises (SMEs)

By Industry:

  • IT & Telecom
  • BFSI
  • Healthcare
  • Manufacturing
  • Retail
  • Government
  • Others

By Region:

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

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Upstream Oil & Gas Services Market Increasing Demand for Efficient Management Practices Report

According to the latest market report published by Future Market Insights titled ‘Upstream Oil & Gas Services Market: APAC Industry Analysis and Opportunity Assessment, 2016-2021’, the long-term outlook on the APAC Upstream Oil & Gas Services market remains positive which is expected to increase at a CAGR of 9.3% during the forecast period (2016-2021). The APAC Upstream Oil & Gas Services market is estimated to have been valued at around US$ 2.5 Bn in 2016.

The Upstream process involves various stages, such as searching for underwater and underground oil and gas fields, drilling of wells and subsequently operating these wells, etc. The Upstream oil & gas services segment comprises services involved in the upstream process, such as maintenance and operation of drilling equipment, sampling of fluids and decommissioning involved in various stages within upstream processes.

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The APAC Upstream Oil & Gas Services market report has been analyzed on the basis of various service types, such as IRM (Inspection, Repair and Maintenance), Well Simulation, Sampling (analysis of reservoir fluid samples), Decommissioning, ROV Drill Support and SURF Support type of upstream oil & gas services. The countries considered under this APAC Upstream Oil & Gas Services market analysis are: Australia, New Zealand, Indonesia and Myanmar respectively.

The APAC Upstream Oil & Gas Services Market is a high value –high growth market and this trend is expected to continue during the forecast period. The APAC Upstream Oil & Gas Services Market has flourished owing to increase in oil & gas exploration sites and increase in crude oil & gas production in many countries, particularly Australia, which is a prominent country and has abundant reserves of coal, crude oil and natural gas.

The country is a net exporter of natural gas and has the largest reserves of natural gas in Asia Pacific and is ranked as one of top three net exporters of hydrocarbons in the world. The country’s political and economic scenario is favourable to the growth of Upstream Oil & Gas Services Market, primarily due to regulation and liberalization of trade of oil & gas reserves to overseas markets.

Overall services accounted for 67.4% of the overall economy of Australia, while the oil & gas industry accounted for 28.9% of the economy in 2015, in which the Upstream Oil & Gas Services is said to have been a major contributor to the growth.

By Upstream oil & gas services type, the IRM Upstream Oil & Gas Services type is estimated to be a high value market owing to the significant costs associated with capital equipment, technical-know-how and skilled labour.

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However, at times, the Upstream Oil & Gas services has to be outsourced to foreign countries. The SURF support type of Upstream Oil & Gas Services is however expected to emerge as a high growth segment owing to high offshore base in the region.

Industrial Valve – Market Segmentation

Service Type

  • IRM
  • Sampling
  • Decommissioning
  • ROV Drill Support
  • SURF Support
  • Well Stimulation

Country

  • Australia
  • New Zealand
  • Indonesia
  • Myanmar

APAC Upstream Oil & Gas Services Market Participants

Some of the market participants identified across the value chain of the APAC Upstream Oil & Gas Services market are Chevron Corporation, BP PLC, Eni S.p.A, Origin Energy Ltd., Murphy Oil Corporation, BHP Biliton Limited, INPEX Corporation, Quadrant Energy Australia Limited, Woodside Petroleum Limited and Royal Dutch Shell PLC.

The APAC Upstream Oil & Gas Services market is a highly consolidated market consisting of tier-1 global scale Upstream Oil & Gas Service providers. For a few companies, Upstream Oil & Gas Services are taken care by regional subsidiaries in the region.

For e.g. Eni S.p.A. operates through its subsidiaries, such as Eni Adfin, Ecofuel SpA, Eni SpA Fuel Centrosud, Eni Corporate University and Eni International Resources in Indonesia and Myanmar. The Upstream Oil & Gas services companies have been focusing on greenfield projects which will offer lead to higher profit margins in addition of existing oil and gas reserves.

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AI in Media & Entertainment Market is Anticipated to Garner USD 132.16 Billion by 2032 | FMI

The global AI in media & entertainment market is estimated at USD 10.4 Billion in 2021 and is projected to procure USD 13.6 Billion by 2022. The market is anticipated to garner USD 132.16 Billion by 2032 while recording a CAGR of 26% during the forecast period from 2022 to 2032. Expansion of the market can be attributed to the increasing viewership of online content and increasing penetration of the internet across various developing countries.

Moreover, growing applications in the sales and marketing industry is another salient factor augmenting the industry. Along with this, the utility of AI in Media & Entertainment for personification and sports automatic productions is likely to offer significant opportunities for expansion in the industry in the forecast period.

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On the contrary, owing to the vast array of benefits and increasing trends, this industry brings along a few shortcomings as well which restrains the market growth. These aspects include the risk of customer privacy and a dearth of skilled professionals in the AI industry.  Moreover, the cost of maintenance and complicity of the process acts as the prominent growth restraining factors.

Key Takeaways from the Market Study

  • By solution, AI in media & entertainment services to capture 59.2% revenue in 2022
  • By application, sales & marketing segment to accumulate a revenue share of 21.7%
  • The North American market is expected to secure US$ 65 Billion while expanding at a CAGR of 24.2%
  • Asia Pacific to record a CAGR of 26.8% during the forecast period ranging from 2022-2032
  • Global AI in media & entertainment market worth to expand 10x from 2022 to 2032

Competitive Landscape 

Key players in the global AI in Media & Entertainment market include Amazon Web Services, Inc., EMG, Gearhouse South Africa Pty. Ltd., Gravity Media, GrayMeta, International Business Machines Corp., LMG, LLC, Matchroom Sport Ltd., Production Resource Group, L.L.C., Synthesia Ltd., TAIT, Valossa Labs Ltd., Veritone, Inc., Pixellot, PlaySight Interactive Ltd., AISportsWatch GmbH, Spiideo, Sport way AB, EVS Broadcast Equipment S.A., Hudl, Move.ai, AutomaticTV, among others. Some of the recent developments among the players are:

  • In May 2022, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, announced the general availability of Amazon Elastic Compute Cloud (Amazon EC2) C7g instances, the next generation of compute-optimized instances powered by AWS-designed Graviton3 processors.
  • In May 2022, Taboola, a global leader in powering recommendations for the open web, helping people discover things they may like, today announced it has entered into a definitive agreement to acquire Gravity R&D, a leading personalization technology company founded in data science.

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More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the global AI in the Media & Entertainment market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

Key Segments Covered in the AI in Media & Entertainment Industry Survey

AI in Media & Entertainment Market by Solution:

  • AI in Media & Entertainment Hardware/Equipment
  • AI in Media & Entertainment AI in Media & Entertainment Services

AI in Media & Entertainment Market by Application:

  • AI in Media & Entertainment in Fake Story Detection
  • AI in Media & Entertainment in Plagiarism Detection
  • AI in Media & Entertainment in Personalization
  • AI in Media & Entertainment in Production Planning & Management
  • AI in Media & Entertainment in Sales & Marketing
  • AI in Media & Entertainment in Talent Identification
  • AI in Media & Entertainment in Content Capture
  • AI in Media & Entertainment in Sports Automatic Productions

AI in Media & Entertainment Market by Region:

  • North America AI in Media & Entertainment Market
  • Latin America AI in Media & Entertainment Market
  • Europe AI in Media & Entertainment Market
  • Asia Pacific AI in Media & Entertainment Market
  • Middle East & Africa AI in Media & Entertainment Market

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Social Media Content Creation Market is Anticipated to Have a Significant CAGR of 14.5% from 2022 – 2032

According to a recent study, Social Media Content Creation Market reached a valuation of US$ 5.7 Bn in 2022 and is expected to reach US$ 19.64 Bn in 2032, at a 14.5% CAGR from 2022 to 2032. As marketing professionals seek to reach a bigger consumer base, there is a growing demand for content development tools across many business sectors. A rapid rise in the adoption of social media content creation tools is expected owing to:

  • increased IT expenditure
  • AI usage
  • cloud computing implementation
  • decreased data storage costs
  • rise of e-commerce business platforms.

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Marketing and sales tactics are increasingly heavily reliant on social media content creation software tools and service platforms. And, in almost every industry, digital marketing is becoming a critical—if not essential—part of any marketing department.

Digital content development for social media platforms like Twitter, Facebook, and YouTube is exploding, propelling the social media content creation market forward. HubSpot, Moovly Media, Shopify, Zoom Video Communications, and Atlassian Corporation are all active IT businesses in the field, and they all control the social media content creation market share.

Manufacturers and software developers are offering new prospects as a result of technology developments and product innovations that merge hardware and software to generate social media content. Not only are the market’s major players stepping up their game, but start-ups and newcomers are carving out a position for themselves in an increasingly global social media content creation marketplace.

SME growth is accelerating in high-growing areas such as Asia-Pacific (APAC) and the Middle East, contributing considerably to the expanding social media content creation market. In this demographic, social media creation and management solutions are perfect since they allow marketers to communicate directly with their audiences across several social media platforms at a cheap cost.

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The social media content creation market is segmented into content type, enterprise size, end-user industries and region. The YouTube content creation segment of the social media content creation market is expected to lead the market with a share of 40.3% in the global industry. The large enterprises segmented is also driving the social media content creation market forward with a share of 73.2%. The share of SMEs in the social media content creation market is less but it is picking up at a rapid pace owing to the changing market outlook and global scenario.

US Social Media Content Creation Demand to Grow Nearly 11.9% Annually Through 2032

The demand for social media content creation in USA is projected to have a share of 72.4% in 2022 and is expected to lead the social media content creation market at a high pace.

APAC region is anticipated to lead the social media content creation market throughout the forecast period owing to growing customer base and changing consumer preferences. Growth in the APAC region could be attributed to the following factors:

  • The Indian social media content creation market is projected to have a share of 39.8% in the global market and is also expected to grow at a high rate of 14.2% throughout the forecast period.
  • The Chinese social media content creation market is growing at a CAGR of 15.9% from 2022 to 2032.
  • The demand for social media content creation in Japan is expected to grow at a rate of 12.2% throughout the forecast period and it is also holding a market share of 32.9% globally.
  • The China social media content creation market is holding the highest share of the market in the APAC region of 47.1%.

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The report provides a thorough analysis of the social media content creation market. In-depth qualitative research, verifiable data from reliable sources, and market size predictions are all included in the report. The estimates are based on well-established research methodology.

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Key segments

By Content Type:

  • Instagram Content Creation
  • Facebook Content Creation
  • Tiktok Content Creation
  • YouTube Content Creation
  • Others

By Enterprise Size:

  • Small & Medium Sized Enterprise
  • Large Enterprise

By End Use:

  • Travel & Hospitality
  • Retail
  • Education
  • Healthcare
  • Media & Entertainment
  • Telecom & IT
  • Others

By Region:

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

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Form Automation Software Market is Expected to Reach US$ 1.2 billion by 2032 | FMI

As per the study at FMI, the form automation software market is valued at US$ 270.6 million in 2022 and is expected to reach US$ 1.2 billion by 2032, growing at a 16.3% CAGR. The growing demand for fast data processing units that fill the form and cuts off the hassles for the businesses so that the companies can focus on their core competencies.

New ways to store data and complete the data processing along with recurring manual tasks fuel the market along with the growth of form automation software market are rapid digitization and increasing integration of new-age technologies with automation software.

Reluctance among customers so that businesses adopt such software so that it could flourish with faster operations in two different ways–firstly, it covers the creation and managing of electronic forms for digitizing the multiple components of businesses.

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The new integrated solutions like AI and Machine learning are collaborating with form automation software, making the platform more technically enabled. This allows the vendors to experiment and introduce new integrated spaces that deliver better control and faster processing.

The major restrictions that limit the growth of form automation software market are high capital investments, an incompetent workforce, and security compliances. The growing number of cyber-attacks and data theft are raising concerns over any new digital software that deals with data and storage spaces.

What is the Segmentation Outlook for the Form Automation Software Market?

  •  The software platforms segment is the largest segment and will hold the biggest portion of the market in the forecast period, thriving at CAGR of 15.8% through 2032, owing to factors like its common use and interactive user interface along with exciting price ranges and its effective implementation on SMEs and large enterprises.
  • On-premises segment is the biggest segment and will hold the largest portion of the market, flourishing at a CAGR of 15.9%, attributing to more control over data and storage along with faster transmission and easy implementation, increasing the security compliance levels.
  • The biggest and highest growing market is United States, flourishing at a CAGR of 15.9% between 2022-2032, growing because of the features like new corporate setups in the grown markets, startups and digitization of old working spaces.
  • The China being the second highest growing market globally will hold US$ 89.2 Mn by the end of 2032 as it thrives on a promising CAGR of 15.7% between 2022-2032 with Japan and South Korea growing alongside.

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COMPETITIVE LANDSCAPE:

Some of the form automation software market competitors listed in the FMI’s study on form automation software market are PaperForm, JotForm, Zoho Corporation, FormStack and ProntoForms.

Key Segments

By Component :

  • Software Platform
  • Services

By Pricing Analysis:

  • Licensing Based
  • Subscription-Based

By Deployment Type:

  • On-premises
  • Web-based

By Region:

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

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Interventional Radiology Market is Expected to Grow at a CAGR of 5.4% Over the Forecast Period 2022 – 2032

[304 Pages Report] According to the exclusive report of Future Market Insights (FMI), the global interventional radiology market is expected to grow at a CAGR of 5.4% during the forecast period by going up from US$ 24.9 Bn in 2021 to US$ 44.5 Bn market in 2032.

With the increasing cases of several chronic diseases worldwide there has been a growing demand for advanced treatment procedures by the help of Scanners and X-ray vision technologies. These type of interventional radiology glasses and devices not only help in effective treatment of diseases by provide a better scope of early diagnosis rendering it a growing market in recent years.

Introduction of interventional radiology in every level of healthcare facilities has provided the requisite impetus for the rapid growth of interventional radiology that can be witnessed in developing countries as well.

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As the non-emergency medical services were abruptly halted during the outbreak of Covid-19 Mandeville in 2020 it had some negative impacts on the growing demand for interventional radiology devices installations.

However, the later discovery of seriousness associated with co-morbid diseases the global interventional radiology market surged with rising introduction of interventional radiology in new healthcare and medical facilities. In the post-pandemic years the application of radiology equipment has grown favouring the interventional radiology service providers.

Several devices equipped with modern technologies such as X-ray systems, MRI Scanners, CT Scanners and other type of medical imaging equipment have dominated the health care sector in recent days.

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Key Takeaways

  • By 20221, Cardiology Segment was valued at US$ 7.7 Bn in terms of revenue contributed the global interventional radiology market.
  • The Gastroenterology segment is poised to record a higher growth projection during the forecast years reaching a value of more than US $ 2 Bn by 2028.
  • Among several procedures angioplasty segment will expected to grow at a CAGR of 5.8% during the forecast period.
  • US market dominates the interventional radiology for medical students having a net worth of more than US$ 8 Bn.
  • In Europe, Germany is the prominent region for the interventional radiology market players valued at US$ 1.5 Bn in terms of revenue generated.

Competitive Landscape

Carestream Health Inc., Hologic Inc., GE Healthcare, Fujifilm Corporation, Samsung Healthcare (Samsung Electronics Co., Ltd.), Shimadzu Corporation, Siemens Healthineers, Canon Medical Systems Corporation, and Olympus Corporation are some of the prominent players of the global interventional radiology market covered by the market analysis report.

A large number of local players have occupied the market by supplying equipments related to interventional radiology for medical student’s requirements.

  • In the field of ultrasound, digital radiography and computed tomography Samsung Healthcare, a subsidiary of Samsung Electronics Co., Ltd, launched a premium product for diagnostic imaging solutions in December 2020. This initiative for ultrasound guided interventional procedures carried out at Radiology Society of North America (RSNA) 2020 assisted the company in expanding their product portfolio in North America and beyond.

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  • Canon Medical launched an upgraded product under the Aquilion ONE/PRISM Edition by the name of One-Beat Spectral Cardiac CT in November 2020. THE Aquillion Edition assisted with deep learning spectral capabilities is a major development in the field of cardiac exam and after interventional radiology glasses.
  • GE Healthcare division of General Electrical Company launched an advanced ultrasound system by the name of LOGIQ E10 in March 2018. This system has been equipped with comprehensive tools that can provide treatment for a wife range of diseases and remote control applications to improve efficiency.

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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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Weather Forecasting Services Market 2022 Development Status, Competition Analysis, Type and Application 2032

The global weather forecasting services market is estimated at US$ 2.2 Billion in 2021 and is projected to procure US$ 2.35 Billion by 2022. The market is anticipated to garner US$ 4.5 Billion by 2032 while recording a CAGR of 6.7% during the Forecasting period from 2022 to 2032. Expansion of the market can be attributed to the increasing utility in end-use industries like marine, renewable, logistics, and transport industry to increase efficiency and reduce cost across various developing countries.

Moreover, the growing Aviation and Energy industries are another salient factor augmenting the industry in the assessment period. The growing usage of small-range Weather Forecasting Services in predicting environmental conditions is likely to offer significant opportunities for expansion in the industry in the Forecasting period.

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On the contrary, owing to the intrinsic nonlinearity of weather Forecasting models is expected to be the major factor hindering the market expansion. Moreover, the proper integration and analysis of a huge amount of data makes the process even more complex, which is another factor impeding the industry expansion in the Forecasting period.

Key Takeaways from the Market Study

  • Weather forecasting services for agriculture to capture the largest revenue share of more than 60%
  • Medium-range Forecasting services segment to expand at a CAGR of 6.7% during the Forecasting period
  • The U.S market is expected to secure USD 1.44 Billion while expanding at a CAGR of 7%
  • China to record a CAGR of 6.8% during the 2022-2032 period of assessment

Competitive Landscape 

Key players in the global Weather Forecasting Services market include AccuWeather, Inc., DTN, Earth Networks, Fugro, Met Office, Precision Weather Service, Spire Global, StormGeo, The Tomorrow Companies Inc., and The Weather Company (IBM). Some of the recent key developments among the players are:

  • In January 2022, Global weather and digital media leader AccuWeather announced the acquisition of Paris-based environmental technology company Plume Labs® for an undisclosed amount, effective immediately. The deal is AccuWeather’s 15th acquisition since its founding 59 years ago.  AccuWeather integrated the company in January 2022 and the deal was closed in December of 2021.
  • In May 2022, DTN, a global data, analytics, and technology company began testing the high-performance computing (HPC) capabilities of Amazon Web Services (AWS) and running data processing and modeling workloads on Amazon Elastic Compute Cloud (Amazon EC2), a service that provides secure, resizable compute capacity in the cloud.

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the global Weather Forecasting Services market, presenting historical market data (2017-2021) and Forecasting statistics for the period of 2022-2032.

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Key Segments Covered In The Weather Forecasting Services Industry Survey

Weather Forecasting Services Market by Forecast:

  • Nowcasting Weather Forecasting Services
  • Short-range Weather Forecasting Services
  • Medium-range Weather Forecasting Services
  • Long-range Weather Forecasting Services

Weather Forecasting Services Market by Organization Size:

  • Weather Forecasting Services for Large Enterprises
  • Weather Forecasting Services for Small & Medium Enterprises

Weather Forecasting Services Market by Industry:

  • Weather Forecasting Services for Agriculture
  • Weather Forecasting Services for Aviation
  • Weather Forecasting Services for Energy & Utilities
  • Weather Forecasting Services for Renewables
  • Weather Forecasting Services for Retail
  • Weather Forecasting Services for Manufacturing
  • Weather Forecasting Services for Media
  • Weather Forecasting Services for Logistics & Transportation
  • Weather Forecasting Services for Marine Industry
  • Weather Forecasting Services for Other Industries

Weather Forecasting Services Market by Region:

  • North America Weather Forecasting Services Market
  • Latin America Weather Forecasting Services Market
  • Europe Weather Forecasting Services Market
  • Asia Pacific Weather Forecasting Services Market
  • The Middle East & Africa Weather Forecasting Services Market

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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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Automotive Performance Tuning and Engine Remapping Services Market Set for Rapid Growth by 2031

The automotive performance tuning and engine remapping services market is forecast to grow at a CAGR of 6.3% from 2021 to 2031. Automotive performance tuning and engine remapping services market is driven by the increasing focus on customization of vehicles. The increasing trend towards owing high performance vehicles, coupled with surging fuel prices are key factors driving growth. Automotive performance tuning and engine remapping services have been gaining remarkable momentum in the passenger and commercial vehicle markets, from their conventional application in automotive racing.

Automotive performance tuning and engine remapping services aim to improve the performance and efficiency of a variety of vehicles. Previously, automotive performance tuning and engine remapping services were only available for race cars, but they’ve gained a lot of popularity as a trend in passenger and commercial vehicles. During the forecast period, this factor is expected to be one of the major driving forces for the global automotive performance tuning and engine remapping services market (2021-2031).

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Key takeaways of Automotive Performance Tuning and Engine Remapping Services Market Study

  • Driven by increasing demand for high-performance vehicles, the automotive performance tuning & engine remapping market will register 6.3% CAGR between 2021 and 2031
  • Increasing expenditure on ensure fuel efficiency in vehicles will drive growth in the U.S., enabling it to account for over 85% sales in North America in 2021
  • After a year of negative sales, sales in the U.K. will improve, exhibiting 6.6% y-o-y growth in 2021
  • Germany and France too will continue exhibiting high demand, backed by rising vehicle production and sales
  • Expansion of the automotive sector will boost sales in China, catapulting it as a leading market for automotive performances tuning & engine remapping

“Rising popularity of engine performance tuning and remapping in recent years is likely to drive global automotive performance tuning and engine remapping services market. Most players around the world are focusing on the expansion of the supply chain. As a result, engine tuning and remapping is gaining popularity among vehicle owners as it also increases the service life of vehicles engines,’’ says Future Market Insights analyst.

The performance tuning and engine remapping services are intended to improve the performance and economy of various types of vehicles. Performance tuning and engine remapping services were reserved for automotive racing only, but have significantly gained traction in the market as a trend in passenger and commercial vehicles as well. This factor is projected to be one of the key driving factors for the global performance tuning and engine remapping services market during the forecast period.

Who Is Winning?

The report includes some of the key market participants that are prominent and have established themselves as leaders in the global as well as regional markets for automotive performance tuning and engine remapping services. Some the key players in the automotive performance tuning and engine remapping services market are Quantum Tuning, RS Tuning, Turbo Dynamics, EcuTek Technologies Ltd., Roo Systems, ABT Sports line GmbH, Tuning Works Inc., Shift Performance, Layton Remaps, and TuneOTronics, among others.

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Automotive performance tuning and engine remapping services Market

By Vehicle Type

  • Passenger cars
  • Light commercial Vehicles
  • Heavy Commercial Vehicles

By Fuel Type

  • Petrol
  • Diesel

By Tuning stage

  • Stage 1
  • Stage 2
  • Stage 3

By Tuning Method

  • OBD Ports
  • Bench Tuning

By Application

  • Racing
  • Fuel Economizing
  • Performance tuning

By Region

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

Valuable Insights into Automotive Performance Tuning & Engine Remapping Services Market

Future Market Insights, in its new report, offers an unbiased analysis of the global automotive performance tuning & engine remapping services market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the market on the basis of vehicle type, fuel type, tuning stage, tuning method, and application across seven regions.

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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.

Contact:

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Automotive Wheel Bearing Aftermarket Demand, Scope and Future Estimation until 2030

The automotive wheel bearing aftermarket is growing steadily with the rise in production of higher load carrying commercial vehicles, high performance vehicles, and others. Maintenance of wheel bearings is important to maintain smooth wheel functioning and free rotation of the wheel hub. This is creating increasing demand for automotive wheel bearing aftermarket services.

A new study by Future Market Insights (FMI) states that the global automotive wheel bearing aftermarket is expected to rise at ~3.4% CAGR during the forecast period from the year 2020 to 2030.

Due to the rise in industrialization and economic growth, the demand for automotive wheel bearings is rising. In order to meet necessities of customers, market players are focusing on developing hybrid bearings with improved stiffness and load capacity. With researches underway to improve overall functionality, the demand in automotive wheel bearing aftermarket is expected to surge in the coming years.

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Despite facing hindrances caused by COVID-19 pandemic, the global automotive wheel bearing aftermarket is set to witness impressive growth during the forecast period.

FMI offers an exhaustive overview of the automotive wheel bearing aftermarket, its potential, growth drivers and restraints.

Some of the key takeaways from the report are highlighted below-

  • Independent aftermarket have emerged as preferred sales channels
  • The rising sales of passenger vehicles are fuelling demand for automotive wheel bearing aftermarket
  • The demand for tapered roller bearing is expected to rise at a higher pace among products available in the market
  • Application of automotive wheel bearings in rear will continue accounting for the maximum sales in the market
  • East Asia automotive wheel bearing aftermarket will remain dominant through the forecast period

 “The increase in sales of passenger cars and two wheelers is expected to drive the global automotive wheel bearing aftermarket. Furthermore, the usage of advanced technologies and materials in automotive manufacturing has increased the average operational age of vehicles significantly which in turn is catering to the growth of automotive wheel bearing aftermarket,” says an FMI analyst.

COVID-19 Impact Analysis

The market has been severely affected by the outbreak of COVID-19 pandemic. The decrease in demand for automotive wheel bearings coupled with the decline in growth of automotive industry has hampered the growth of the aftermarket.

Factors such as shutting down of manufacturing units, disruptions in transport and sales channels, scarcity of raw materials, and others have resulted in the declining growth of automotive wheel bearing aftermarket.

With the commencement of vaccination, the automotive wheel bearing aftermarket is anticipated to recover by the end of the year 2021 or beginning of 2022.

Who is Winning

With competition getting fiercer, market players are focussing on launching of extensive range of products with improved flexibility and load carriage capacity.

For instance, NSK Ltd. Has launched their new hub unit bearings with integral sensor located between the rows with a very small air gap in the recent year. They have also launched hub unit bearings with angular passive sensor with integral high-output sensor in the current year.

NRB Bearings Ltd. has launched their exclusive needle roller bearing with high load capacity and flexibility in the current year.

Some of the leading companies operating in the market are NTN Bearing, The Timken Company, Continental Group, AB SKF, NSK Ltd, Schaeffler AG, JTEKT Corp, among others.

Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-12779

Key Segments

Sales Channel

  • Original Equipment Supplier
  • Independent Aftermarket

Vehicle Type

  • Passenger Car
    • Compact
    • Mid Sized
    • SUV
    • Luxury
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Product Type

  • Ball Bearing
  • Precision Ball Bearing
  • Roller Bearing
  • Tapered Roller Bearing
  • Others

Application

  • Front
  • Rear

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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.

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
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Railway Bearing Market Key Opportunity, Analysis, Growth, Trends 2030

Future Market Insights (FMI) projects that the global railway bearings market will grow in value at a CAGR of 5.7% between 2020 and 2030.

According to the study, as governments invest significantly to improve railway infrastructure, demand for locomotive components, including railway bearings is likely to grow. Moreover, the availability of a wide range of railway bearings – such as cylindrical, tapered, angular contact, etc. – enables adoption based on diverse application-specific requirements.

Owing to the expansion of railway networks, there is a high demand for high-reliability and low-maintenance bearings that can withstand harsh physical conditions. According to the study, market players are directing their focus towards the innovation of advanced bearings. Manufacturers are coating bearings with ceramic or polymers to give insulation properties and are opting for other innovations.

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The report opines that the growth of the market will behold fluctuations during the COVID-19 pandemic owing to hindered operations in the railway sector. However, governments and private railway network operators are introducing policies and investments to cover lost revenue opportunities, and this is likely to alleviate the impact to an extent.

Key Takeaways

  • The global railway bearings market is poised to surpass a valuation of US$ 4.5 Bn by 2030.
  • Roller bearings will remain top-selling category, accounting for over 3/5th of market value through the assessment period.
  • Based on application, the wheels segment will capture nearly half of global market value.
  • By type of train, freight trains will account for over 40% of global value, ascribed to high spending by private freight rail network operators on timely maintenance and upgrades.
  • The aftermarket segment will channel nearly 65% of revenue to the market owing to increased spending on aftermarket servicing.
  • Europe will reign supremacy over the regional landscape, capturing around 2/5th of market share.
  • East Asia, South Asia, and Pacific will cumulatively account for nearly 40% of global value, backed by soaring investments to develop railway networks.

“Market players are focusing on developing advanced yet cost-effective railway bearings that require minimal maintenance in order to build a loyal consumer base,” remarks FMI analyst.

COVID-19 Impact

COVID-19 pandemic is expected to adversely impact the growth of the market as operations in the railway sector, including maintenance and production, come to a screeching halt. Moreover, hampered productions and travel restrictions are decelerating the demand for railway bearings during the pandemic and the downtrend is likely to prevail through 2020.

However, governments are investing in the railway sector to lower the long-term impact. For instance, China’s Zhejiang provincial government increased its spending on railways in the first half of 2020 to cope up with the losses caused by COVID-19. Such initiatives will alleviate the impact to an extent.

Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-8007

Key Segments

Product Type:

  • Roller Bearing
  • Ball Bearing
  • Plain Bearing

Train Type:

  • Very High-Speed Train
  • Mainline Train
  • Metro Train
  • Freight Train
  • Special Train

Application:

  • Engine
  • Wheel
  • Interior
  • Exterior

Sales Channel:

  • OEM
  • Aftermarket

Region:

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

Who is Winning?

Railway bearings manufacturers are focusing on developing innovative and cost-effective products and are entering strategic partnerships to achieve the same. On these lines:

  • In March 2020, NSK Ltd. developed low maintenance, high-reliability gearbox bearings which can be used for large and small gears
  • In September 2020, NSK Ltd. announced that its bearings found adoption in Japan’s Shinkansen bullet train.
  • In November 2018, Russia based AB SKF, announced its partnership with Siemens, to improve railway reliability.

FMI’s report includes profiles of some of the most prominent names in the market including NSK Ltd., The Timken Company, JTEKT Corporation, National Engineering Industries Limited, Amsted Rail Company, NTN Corporation, Schaeffler Group, SKF AB among others.

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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.

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
Website: https://www.futuremarketinsights.com
Reports: https://www.futuremarketinsights.com/reports
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