Insights Engine Market Thrives as Retail and Consumer Goods Industries Leverage Advanced Platforms for Customer Understanding

The insights engine market is expected to develop at a strong compound annual growth rate (CAGR) of 19.7%, with a projected value of US$ 860 million by 2027. An insights engine is a platform that uses relevance techniques to locate, organize, and analyze data so that current or synthesized information may be delivered in an interactive or proactive manner.

Platforms for insights engines enable businesses to interact with content and draw conclusions without altering it at the source, assisting them in developing an empirical understanding of the needs of their clientele.

By that year, the market is anticipated to reach a value of around US$ 860 million, according to Future Market Insights’ Insights Engine Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027).

Request a Sample Copy of this Report

Vertical – Focus on IT & Telecom and Retail & Consumer Goods in Insights Engine Market

The verticals to keep an eye out for in the insights engine market are IT & Telecom and Retail & Consumer Goods. Retail & Consumer good vendors are adopting insights engine platforms to gain an in-depth understanding of customer needs and predict search queries to improve result relevancy. Insights engine platforms are also being tested and implemented in various IT & Telecom companies to allow them to gauge customer usage patterns. It becomes possible to extract maximum customer revenue by way of insights engine platforms. The retail & consumer goods vertical is slightly larger than the IT & Telecom vertical at the end of the forecast period.

Component – Services Component to Grow Rapidly in Insights Engine Market

In 2017, the software component is roughly thrice the size of services in the insights engine market. Nonetheless, the services component is on track to witness an exponential CAGR of 20.6% from 2017 to 2027, making it a lucrative opportunity that cannot be ignored in the insights engine market. Almost all providers offer timely software updates to their insights engine platforms as it is absolutely critical. However, the update occasionally raises compatibility issues with legacy systems that the client may be using. The issues are typically related to customization and functionality and could constraint growth of the insights engine market.

Deployment – SaaS Tails On-Premise Deployment in Insights Engine Market

On-premise deployment is considerably larger than SaaS deployment segment in the insights engine market and is likely to retain its pole position through the next decade. The on-premise deployment segment is poised to have a value of just under half a billion in the insights engine market by end 2027. The market attractiveness index of the on-premise deployment segment is 5.0 and companies would be advised to focus their attention on this highly lucrative segment in the insights engine market.

Region – North America Highly Influential in the Insights Engine Market

In 2017, North America had the largest contribution. Furthermore, it is projected to gain a massive 610 BPS by the end of the forecast, outpacing all other regions in the global market. This growth can be attributed to North American enterprises actively seeking to harness the potential of machine learning and AI capabilities. Consequently, they aim to enhance various aspects of their operations, such as customer feedback, sales support, and marketing activities. In response, companies in the market have adjusted their strategies, offering their products at a highly competitive price to cater to this demand. As a result, businesses there can opt for updated search solutions, effectively growing the overall market.

Competition Dashboard in the Insights Engine Market

The report profiles several companies, including Funnelback, IntraFind Inc., Coveo Solutions Inc., Sinequa, Microsoft Corporation, Attivio, Mindbreeze GmbH, Dassault Systèmes, Smartlogic, IBM Corporation, Microfocus, Lucidworks, Expert System, IHS Markit Ltd, and Market Logic.

Takeaways

To enhance their business prospects in North America, insights engine platform vendors would do well to engage in agreements with small and medium-scale enterprises. Given that online shopping is on the verge of a boom, insights engine platforms could strategically form partnerships with cloud service providers and subsequently introduce innovative solutions.

Market Taxonomy

Vertical:

  • IT and Telecom
  • BFSI
  • Retail and Consumer Goods
  • Healthcare & Life Sciences
  • Manufacturing
  • Media & Entertainment
  • Transportation & Logistics
  • Travel & Hospitality
  • Others

Component:

  • Software
  • Services

Deployment:

  • On-premise
  • SaaS

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

Take the Next Step: Buy Our Exclusive Report for Informed Decisions

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

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
LinkedIn| Twitter| Blogs | YouTube

 

The LED Light Bar Market Set to Reach USD 1.67 Billion by 2033: Exploring Key Growth Drivers and Future Trends

The LED light bar market is projected to reach a valuation of USD 1,669.6 million by 2033, up from USD 1,034.8 million in 2023. The market is anticipated to grow at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2033.

LED light bars are among the most energy-efficient lighting solutions available for both indoor and outdoor use. These versatile lighting options are widely utilized across various industries, with the automotive sector being the largest consumer. Their compact design, high durability, and energy efficiency make them an ideal choice for automotive applications. As the automotive industry, particularly the electric vehicle sector, continues to grow, the demand for LED light bars is expected to rise significantly.

Government policies and initiatives in many countries are playing a key role in promoting the use of LED light bars. State bodies are encouraging manufacturers and consumers to adopt energy-efficient lighting solutions by offering subsidies and tax incentives.

Beyond the automotive and construction industries, LED light bars have broad applications in sectors such as mining, marine, entertainment, and horticulture. They are also used in popular tourist destinations to create stunning lighting effects on monuments and buildings.

Compared to traditional lighting options like halogen and incandescent lamps, LED light bars are preferred for their high luminosity, durability, resistance to harsh weather conditions, and long-term cost savings. However, the market faces challenges from cheaper, lower-quality alternatives and the high costs associated with retrofitting.

“Technological advancements in the LED light bar market have the potential to attract a larger customer base in the near future. Innovations aimed at making these products more affordable and integrating AI technology could significantly boost demand,” says Sneha Varghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI)

Key Drivers of the LED Light Bar Market

  • Energy Efficiency: LED light bars are known for their energy efficiency, using significantly less power compared to traditional lighting options like halogen and incandescent lamps. This makes them a preferred choice in sectors where energy savings are crucial.
  • Automotive Industry Growth: The expanding automotive industry, especially the electric vehicle (EV) sector, is a major driver for LED light bars. Their compact size, durability, and efficient power use make them ideal for vehicle lighting systems.
  • Government Policies and Initiatives: Governments worldwide are promoting energy-efficient lighting solutions through subsidies, tax incentives, and environmental regulations, encouraging the adoption of LED light bars in various sectors.
  • Durability and Longevity: LED light bars offer high durability, resistance to harsh conditions, and long operational life, making them ideal for outdoor and industrial applications, including construction, mining, and marine industries.
  • Technological Advancements: Continuous innovations, such as integrating AI and smart lighting systems, are enhancing the functionality and appeal of LED light bars, driving market growth.
  • Environmental Awareness: Growing awareness of environmental sustainability is pushing consumers and industries toward adopting energy-efficient lighting solutions like LED light bars, which contribute to reducing carbon footprints.

Competition Analysis of the LED Light Bar Market

  1. Key Players: The LED light bar market is highly competitive, with numerous global and regional players. Leading companies include Osram GmbH, Philips Lighting, Cree Inc., Hella, Baja Designs, and Rigid Industries. These firms dominate the market through extensive product portfolios, strong brand recognition, and significant investments in R&D.
  2. Product Differentiation: Companies in the LED light bar market differentiate themselves through product innovation. Key players focus on introducing advanced features such as smart lighting, AI integration, wireless control, and energy optimization, which give them a competitive edge.
  3. Pricing Pressure: With increasing competition, particularly from low-cost manufacturers in Asia, pricing pressure is a significant factor. Companies need to balance cost efficiency with high-quality production to maintain market share while competing with more affordable alternatives.
  4. Technological Advancements: The competition is also driven by continuous technological innovation. Players that can introduce new technologies, such as smart LEDs, adaptive lighting systems, or improved energy efficiency, are better positioned to capture market share.
  5. Supply Chain Strength: Companies with strong, efficient supply chains have a competitive advantage, particularly in sourcing high-quality materials and components for LED light bars. Firms with well-established distribution networks are better equipped to serve global markets.

Key companies in the LED Light Bar Market

  • Osram
  • Philips
  • Cree
  • Eaton
  • Rigid Industries
  • KC HiLiTES
  • Nilight
  • Baja Designs
  • Auxbeam
  • HEISE LED lighting systems
  • Hubbell Lighting
  • Larson Electronics

Recent Developments in the LED Light Bar Market

In September 2023, Logitech, a renowned gaming company, introduced Litra Beam X LED, a lighting bar catered to the gaming and content creation communities. These light bars were specially designed to provide an RGB lighting experience to gamers.

Nanoleaf, a Toronto-based company, launched a fresh line of LED light bars curated to sync with music in real-time. These smart LED light bars can be easily connected to smart home setups like Google Home and Amazon Alexa and have the capability to mimic the colors displayed on TV screens or monitors for cinematic surroundings.

Market Segmentation

By Configuration:

  • Single row
  • Double row
  • Triple row
  • Quad row

By Beam Pattern:

  • Flood
  • Spot
  • Combo Lights
  • By Application:
  • Events & shows
  • Automotive
  • Restaurants and bars
  • Charter and boats

By Power Rating:

  • Below 100W
  • 101-200W
  • 201-300W

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact FMI:   

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
LinkedIn| Twitter| Blogs | YouTube

 

Service Integration and Management Market to touch US$ 16 Billion by 2027 – FMI

Future Market Insights has undertaken a thorough research on the service integration and management market and the deep dive in this sector has enabled FMI to surface new insights pertaining to the various trends, opportunities, drivers and restraints influencing the growth of the global service integration and management market and also has included regional analysis, competitive scenario and future market projections in the “Service Integration and Management Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” research report. The analysis on each segment of the global market has made the research more fact based and analytical giving in-depth foresight into the global market for service integration and management.

Global Service Integration and Management Market: Dynamics

Increasing expectations from users, increasing service targets, rise in multi-vendor and selective sourcing, rising supply network for delivery services, improvisation in IT performance, rising infrastructure services, increasing complexity of service management, rise in outsourcing of service integration, need for better IT delivery, rising customers and requirement changes and need for fast and seamless transition of new services have supported the growth of the global service integration and management market. However, factors such as cultural gap, high cost of IT, challenges faced by small organizations, lack of key performance indicators, lack of proper implementation and challenges related to process and interface standards are interfering with the growth of the global service integration and management market.

Request a PDF Sample at

Global Service Integration and Management Market: Forecast Projections

According to the fact based research report, the global service integration and management market is anticipated to grow at a meteoric growth rate to register a high CAGR of 9.2% during the period of forecast. The global service integration and management market is valued at about US$ 6.8 Bn in 2017 and is estimated to reach a valuation of more than US$ 16 Bn by the end of the assessment period.

Global Service Integration and Management Market: Segmental Highlights

The global service integration and management market is segmented by IT solutions, by enterprise type, by industry and by region.

  • By region, the service integration and management market in Asia Pacific excluding Japan (APEJ) region is projected to grow at the highest pace in the coming years to register a CAGR of 13.0%. North America is considered to be an attractive and the largest market. The service integration and management market in North America is poised to reflect a higher value of more than US$ 5 Bn by 2027 end and thus expected to dominate the global market
  • By IT solution type, the IT infrastructure management segment is the largest segment with respect to value and is poised to grow at a significant pace. The compliance and risk management segment is projected to be the fastest growing segment to register an exponential CAGR of 11.4% throughout the period of assessment
  • By enterprise type, the small and medium enterprise segment is expected to gain high traction in the coming years and is poised to grow at a higher rate. The large enterprises segment is the largest and is estimated to reflect a higher market value of more than US$ 8.9 Bn by the end of the assessment year

Browse Press Release at

Global Service Integration and Management Market: Key Players

The analytical research report on global service integration and management market has included profiling of key players involved in service integration and management. Key companies such as Capgemini, HCL Technologies Limited, Oracle Corporation, Wipro Limited, Fujitsu Limited, Cisco Systems, Inc., Accenture PLC, ATOS SE, ServiceNow Inc., Capita PLC, Tata Consultancy Services, CGI Group Inc., Quint Group, NTT Data Corporation, DXC technology and Sofigate Oy are included in this research report.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

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
LinkedIn| Twitter| Blogs | YouTube

Digital Elevation Model Market: Projected Growth from $2.02 Billion in 2024 to $9.44 Billion by 2034 with a CAGR of 16.7%

It is anticipated that the global market for digital elevation models would grow at an astounding rate, with sales likely to reach US$ 1,379.7 million in 2021. It is anticipated to have a robust Compound Annual Growth Rate (CAGR) of 16.9% and a US$ 4,750.0 million valuation by 2029.

Providers of digital elevation models are seeing tremendous development potential due to the increasing need to plan ahead for barrier building in real-world applications and to monitor water and mineral assets. Digital elevation models are expected to sell for over $1 billion worldwide by the end of 2019 and to expand at an astounding 16% CAGR through 2029.

Request a Sample Copy of the Report 

Drivers and Opportunities:

The Digital Elevation Model Market commands a substantial 10% market share within the Geographic Information System (GIS) industry on a global scale. This surge can be attributed to the escalating adoption of digital elevation model software across an array of applications. Notably, it plays a pivotal role in hydrological modeling, bathymetric analysis, disaster prevention, infrastructure development, agriculture, 3D visualization, 3D mapping, gravity measurements, terrain correction, and more.

A particularly promising growth avenue lies in the increasing adoption of digital elevation model services. Services such as rendering 3D visualization, DEM maps in 2D or 3D CAD, creating building layouts, and generating relief maps, as well as rectification of satellite images, are expected to witness lucrative expansion throughout the forecasted period.

Competitive Landscape – Regional Trends:

As the Digital Elevation Model Market surges ahead, it presents an intricate competitive landscape. Regional trends are a significant facet of this growth narrative. Diverse geographical regions are experiencing unique patterns of adoption and implementation, driving the market’s evolution.

Restraints:

While the Digital Elevation Model Market is poised for substantial growth, it does face certain limitations and challenges. These encompass technological constraints, data accuracy issues, and regulatory hurdles. Nevertheless, innovative solutions are continuously emerging to address these restraints, offering a silver lining for market expansion.

Region-wise Insights:

Region-wise insights into the Digital Elevation Model Market illuminate the varied dynamics at play. Differing regional priorities, economic conditions, and infrastructure demands contribute to the nuanced development of this market across the globe.

Category-wise Insights:

Within the Digital Elevation Model Market, various categories are emerging with distinct growth trajectories. Understanding these category-wise insights is critical for stakeholders seeking to capitalize on specific opportunities within the market.

Digital Elevation Model Market Outlook by Category

By Tools:

  • Firstly, Digital Elevation Model Software
  • Secondly, Digital Elevation Model Services
  • Furthermore, Rendering 3-D Visualization
  • Additionally, DEM Maps in 2D or 3D CAD
  • Moreover, Building Layouts and Relief Maps
  • In addition, Rectification of Satellite Images and Aerial Photograph
  • Besides, Drainage and Sight Analysis

By Application:

  • On the one hand, Hydrological Modeling and Bathymetric Analysis
  • On the other hand, Disaster Prevention
  • Similarly, Infrastructure
  • Likewise, Agriculture
  • Equally important, 3D Visualization
  • Additionally, Mapping
  • Notably, Gravity Measurements Terrain Correction or Reduction

By Industry:

  • Correspondingly, Telecommunication
  • Similarly, Planning and Construction
  • Likewise, Transportation and Tourism
  • Additionally, Oil and Mining
  • Furthermore, Aviation
  • Moreover, Geological
  • In addition, Weather
  • Lastly, Military and Defence

Region:

  • Firstly, North America
  • Secondly, Latin America
  • Additionally, Western Europe
  • Moreover, Eastern Europe
  • Furthermore, Asia Pacific Excluding Japan
  • Equally important, Japan
  • Besides, Middle East and Africa

Purchase the Complete Research Report!

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

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
LinkedIn| Twitter| Blogs | YouTube

Digital Elevation Model Market: Projected Growth from $2.02 Billion in 2024 to $9.44 Billion by 2034 with a CAGR of 16.7%

The surge protection device market is expected to be worth US$ 2,864.50 million in 2024. By 2034, the market is projected to be valued at US$ 6,256.50 million. The adoption of surge protection devices is likely to expand at a steady CAGR of 8.10% from 2024 to 2034.

The surge protection device market is experiencing a surge due to the electrification of transportation. With the rapid growth of electric vehicles and charging infrastructure, there is a heightened need for robust surge protection solutions to safeguard EV charging stations, ensuring their reliability and safety.

The proliferation of 5G technology fuels the demand for surge protection device in telecommunications. The deployment of 5G networks requires enhanced protection against power surges to safeguard sensitive equipment and ensure uninterrupted connectivity. The rise of edge computing drives the demand for surge protection solutions. As more computing moves closer to the data source, edge computing facilities demand adequate surge protection to shield critical hardware from electrical disturbances.

Get a Sample Copy of this Report at

The adoption of precision agriculture technology presents a unique driver for surge protection device. Agricultural machinery and smart farming equipment increasingly rely on electronic systems that require protection against power surges, ensuring uninterrupted farm operations. The surge influences the surge protection device market in space exploration activities. Satellite systems and space based technology necessitate high performance surge protection to shield sensitive electronics from radiation and space based electrical fluctuations.

Key Takeaways from the Surge Protection Device Market:

  • The Type 2 segment commands a substantial market share of 44.50% in 2024, emerging as the predominant choice.
  • The Industrial segment secures a robust market lead, claiming a solid 43.98% market share in 2024.
  • The surge protection device industry in the United States is predicted to grow at a stable CAGR of 4.43% through 2034.
  • The surge protection device market in United Kingdom is predicted to rise at a sluggish 3.60% CAGR through 2034.
  • The surge protection device industry in France has the potential to increase at a modest 3.50% CAGR through 2034.
  • China surge protection device market is estimated to develop at a CAGR of 9.30% through 2034.
  • The demand for surge protection device in India is anticipated to expand at a 10.30% CAGR through 2034.

“Surge protection device market shows steady growth driven by technological advancements and increasing need for safeguarding sensitive electronics across industries,”opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.

Competitive Landscape of the Surge Protection Device Market:

Market players are revolutionizing the surge protection device market by innovating advanced technologies and comprehensive solutions. These key players continually introduce sophisticated surge protection device tailored for various applications, enhancing reliability and efficiency. Their strategic initiatives focus on R&D, investing in innovative designs, and incorporating IoT integration, elevating the market trajectory.

Mergers, acquisitions, and collaborations among significant industry players reshape the competitive landscape, fostering global expansion and diversified product portfolios. Through these dynamic strategies and forward thinking approaches, market players are propelling the surge protection device market toward robust growth, catering to evolving demands and fortifying electronic infrastructures worldwide.

Recent Developments in the Surge Protection Device Market

  • In October 2023, Emerson Electric Co. finalized the acquisition of NI, a top provider of software connected test and measurement systems, at an equity value of $8.2 billion.
  • In November 2023, Littelfuse, Inc. introduced the FDA117 Optically Isolated Photovoltaic Driver, offering a floating power source for versatile isolated switching applications across industries.

Restraints:

Despite the promising growth prospects, factors such as high installation costs of surge protection devices and varying product standards across different regions pose challenges to market expansion. Additionally, the lack of awareness regarding surge protection solutions in certain underdeveloped regions acts as a restraint to market growth.

Product Portfolio

  • Littelfuse offers a diverse portfolio of circuit protection, power control, and sensing products. Their range includes fuses, varistors, and semiconductor device, ensuring reliability and safety across various industries, from automotive to industrial applications.
  • Philips delivers an extensive portfolio featuring healthcare solutions, consumer lifestyle products, and lighting innovations. Their offerings span medical imaging systems, personal care appliances, and innovative lighting solutions, driving global health and well-being advancements.

Key Companies Profiled:

  • Eaton Corporation
  • Schneider- electric. Co
  • Siemens AG
  • ABB Group
  • General Electric
  • Emerson Electric Co.
  • Littelfuse Inc.
  • Koninklikes Philips N.V
  • Rockwell Automation Inc.
  • Honeywell International Inc.

Identify Drivers and Challenges – Buy Now

More Insights Available
Future Market Insights offers an unbiased analysis of the surge protection device market, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the surge protection device market, the report is segmented on the basis of Type (Type 1, Type 2 and Type 3), End-User (Industrial, Commercial and Residential), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

Segmentation Analysis of the Surge Protection Device Market:

By Type:

  • Type 1
  • Type 2
  • Type 3

By End-User:

  • Industrial
  • Commercial
  • Residential

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

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
LinkedIn| Twitter| Blogs | YouTube

Global GPS Tracker Market Poised for Significant Growth, Projected to Reach US$ 7,228 Million by 2034

According to a recent report published by Future Market Insights, titled “GPS Tracker Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027),” the global GPS tracker market is poised for remarkable expansion, with revenue projected to reach US$ 3,482.3 million by 2027. This indicates a substantial Compound Annual Growth Rate (CAGR) of 8.4% during the forecasted period. The surge in revenue can be attributed to both the traditional applications of GPS trackers and the emergence of innovative applications in the market, bolstered by the entry of niche players.

The GPS tracker market is witnessing significant growth, primarily driven by the introduction of new applications utilizing the GPS tracking system. As technology advances, innovative use cases have emerged, contributing to the market’s rapid expansion. Additionally, the continued adoption of GPS trackers in conventional applications, such as preventing theft of valuables, is further fueling market growth.

The adoption of GPS trackers in various industries and sectors has brought about a wide range of applications. Industries like logistics, transportation, and fleet management have found immense value in using GPS trackers to optimize their operations and enhance overall efficiency. Moreover, sectors like personal safety, pet tracking, and elderly care have also witnessed increased demand for GPS tracking solutions.

Global GPS Tracker Market: Recommendations

  • Governments should focus on launching more satellites to improve the accuracy of navigation and location detection provided by GPS trackers
  • GPS Tracker manufacturers should focus on manufacturing high standard trackers and the non-standard trackers available in the market with poor quality should be banned
  • Awareness among population and businesses should be increased considering all the potential advantages provided by GPS trackers
  • For successful implementation of GPS Trackers in novel applications, proper R&D should be conducted

Global GPS Tracker Market: Forecast by Type

On the basis of type, the global GPS tracker market is segmented into standalone trackers, OBD trackers, and advance trackers. Although, advanced trackers segment is anticipated to exhibit high market attractiveness index over the forecast period, OBD trackers segment is expected to grab largest revenue share of 37.8% and 37% in 2017 and in 2027 respectively.

Global GPS Tracker Market: Forecast by Industry

On the basis of industry, the global GPS tracker market is segmented into transportation and logistics, construction, government, defense, energy & utilities, healthcare, others (BFSI, Media and Entertainment, Telecom). In terms of value, Transportation and Logistics segment is projected to be the most attractive in the Global GPS Tracker market during the forecast period.

Energy & Utilities segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 8.4% during the forecast period. In 2017, Transportation and Logistics segment is estimated to be valued at US$ 550.6 Million and is expected to witness steady growth in terms of revenue throughout the forecast period.

Global GPS Tracker Market: Forecast by Application

On the basis of Application, the global GPS trackers market is segmented into fleet Management, asset Management, others (Pets wearable devices, wearable devices etc.). Fleet Management is not only anticipated to exhibit high market attractiveness index over the forecast period, but is also expected to capture largest market share of 56.3% in 2027.

Asset Management is expected to register moderate Y-o-Y growth rate throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 7.3% during the forecast period.

Global GPS Tracker Market: Forecast by Region

Seven regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and MEA are included in this report. In terms of value, North America and APEJ are projected to be the most attractive regions in the Global GPS Tracker market during the forecast period. Western Europe market is expected to register high Y-o-Y growth rates throughout the forecast period.

In terms of value, Western Europe region is expected to expand at a CAGR of 8.5% during the forecast period. In 2017, the market in the North America is estimated to be valued at US$ 1067.6 Mn and is expected to witness steady growth in terms of revenue throughout the forecast period.

Global GPS Tracker Market: Key Players and Other Players

Some of the key players operating in the global GPS trackers market are Calamp Corporation, Sierra Wireless, Inc., Tomtom International Bv, Xirgo Technologies, Inc., Queclink Wireless Solutions Co.,Spy Tec International Inc., ATrack Technology, Inc., Maestro Wireless Solutions Limited, Ruptela. Other players functioning in this market are- Laipac Technology Inc, Rocky Mountain Tracking Inc., Amcrest Technologies Llc.

Request to Download Sample Report of GPS Tracker Market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

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
LinkedIn| Twitter| Blogs | YouTube

Advanced Analytics Market Set to Skyrocket, Projected Worth of US$ 26.7 Billion by 2034

The growth of self-service analytics is expected to propel the worldwide advanced analytics market to US$ 15,149.8 million by 2024. The trend is anticipated to open up new market possibilities, resulting in a predicted 5.8% compound annual growth rate (CAGR) between 2024 and 2034 and a total valuation of around US$ 26,688.0 million by that year.

Investing in analytics talent and training is one of the main drivers of the advanced analytics market’s expansion. Organizations are investing in training programs and recruiting experts in data science, machine learning, and advanced analytics because they understand how important having qualified staff is. Developing a staff that understands data is essential to getting the most out of analytics expenditures.

Collaborative analytics tools enable teams to work together on data analysis projects in real-time. The trend fosters collaboration among business analysts, data scientists, and other stakeholders, facilitating better decision-making processes.

Get Sample Copy of this Report at

The potential integration of quantum computing with analytics, while still in the early stages, holds promise for solving complex problems and performing computations at a scale that traditional computers may struggle with.

The optimization of supply chain processes through analytics is gaining prominence. Organizations are leveraging advanced analytics to enhance visibility, predict demand, optimize inventory, and improve overall supply chain efficiency.

Advanced analytics enables businesses to create personalized customer experiences by analyzing data on individual preferences, behaviors, and demographics. Customer segmentation strategies are becoming more sophisticated, allowing for targeted marketing and product recommendations.

The combination of analytics with augmented and virtual reality technologies is opening new possibilities for data visualization and immersive analytics experiences. The trend is particularly relevant in industries such as manufacturing, where AR and VR can be used for virtual simulations and training.

Key Takeaways from the Market Study

  • Global advanced analytics market was valued at US$ 14,355.5 million by 2023-end.
  • From 2019 to 2023, the market demand expanded at a CAGR of 5%.
  • The market in India is expected to expand at a CAGR of 6% through 2034.
  • By industry, the BFSI segment to account for a share of 22.6% in 2024.
  • From 2024 to 2034, advanced analytics market is expected to flourish at a CAGR of 8%.
  • By 2034, the market value of advanced analytics is expected to reach US$ 26,688.0

The integration of blockchain technology with analytics enhances data integrity, security, and transparency. Analytics tools can be used to gain insights from blockchain data, providing valuable information for industries like finance, supply chain, and healthcare, remarks an FMI analyst.

Competitive Landscape

Prominent players in the advanced analytics market are Altair Engineering, Inc., Fair Isaac Corporation, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, RapidMiner, Inc., SAP SE, SAS Institute Inc., Trianz, Infor, and Teradata, among others.

Restraints:

Despite the market’s promising growth trajectory, certain restraints hinder its seamless progression. Concerns regarding data privacy and security remain paramount, posing challenges for widespread adoption. Moreover, the complexities associated with integrating advanced analytics solutions into existing systems and the lack of skilled professionals act as barriers impeding market growth.

Key Companies Profiled        

  • Altair Engineering, Inc.
  • Fair Isaac Corporation
  • International Business Machines Corporation
  • KNIME
  • Microsoft Corporation
  • Oracle Corporation
  • RapidMiner, Inc.
  • SAP SE
  • SAS Institute Inc.
  • Trianz
  • Infor
  • Teradata

Recent Developments

  • In 2023, Microsoft announced the launch of its new Azure Machine Learning Studio platform, which features a new visual drag and drop interface that makes it easy to build and deploy AI and ML models. The new platform is designed to make AI and ML more accessible to businesses of all sizes.
  • In 2022, Teradata announced the launch of its new Aster Analytics platform, which features a new in memory architecture that enables businesses to perform real time analytics on large datasets. The new platform is designed to help businesses make better decisions faster by providing them with the insights they need to understand their customers, predict future trends, and optimize their operations.
  • In 2021, Oracle announced the launch of its new Oracle Analytics Cloud platform, which features a unified platform for data warehousing, business intelligence, and machine learning. The new platform is designed to help businesses of all sizes make better decisions by providing them with the insights they need to understand their customers, predict future trends, and optimize their operations.

Segmentation Analysis of the Advanced Analytics Market

By Solution:

  • Big Data Analytics
  • Visual Analytics
  • Risk Analytics
  • Social Media Analytics
  • Predictive Analytics
  • Other Solutions

By Industry:

  • BFSI
  • Healthcare
  • Government
  • Defense
  • Retail & Consumer Goods
  • Other Industries

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

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
LinkedIn| Twitter| Blogs | YouTube

The Booming Natural Cosmetics Market: Projected Growth, Key Drivers, Challenges, and Global Insights for 2023-2033

According to recent data from Future Market Insights (FMI), the natural cosmetics market is expected to be valued at approximately US$ 48.4 billion in 2023. It is projected to grow to US$ 79.6 billion by 2033, with an anticipated compound annual growth rate (CAGR) of 5.1% over the forecast period from 2023 to 2033.

The future of the natural cosmetics market looks highly promising, largely due to increasing awareness of the negative effects of synthetic ingredients. Consumers are becoming more informed about the potential health risks associated with synthetic components often found in cosmetics, such as parabens, phthalates, and artificial fragrances.

As personal care and beauty products have gained popularity in recent years, ingredient concerns have become a significant factor influencing cosmetic sales. This trend benefits the natural cosmetics market. Additionally, rising environmental consciousness is positively impacting market growth, as many consumers are now seeking products that are sustainably produced and have a lower environmental footprint.

Key Drivers of the Natural Cosmetics Market

  1. Rising Awareness of Synthetic Ingredients: Growing consumer awareness of the harmful effects of synthetic ingredients, such as parabens, phthalates, and artificial fragrances, is driving the demand for natural cosmetics.
  2. Health and Safety Concerns: Increased concerns about potential health risks associated with chemical-based cosmetics are leading consumers to seek out safer, natural alternatives.
  3. Environmental Consciousness: A heightened awareness of environmental issues is prompting consumers to choose products that are sustainably produced and have a minimal impact on the environment.
  4. Growing Popularity of Personal Care Products: The rising prominence of personal care and beauty products has brought ingredient transparency to the forefront, boosting the demand for natural cosmetics.
  5. Innovation and Product Development: Advances in natural ingredient formulations and the introduction of new, effective natural products are attracting more consumers to the market.
  6. Influence of Social Media and Influencers: Increased exposure to natural beauty trends through social media and endorsements by beauty influencers are driving consumer interest in natural cosmetics.

Challenges Facing the Natural Cosmetics Market

  1. High Costs: Natural and organic ingredients often come at a premium compared to synthetic alternatives, leading to higher production costs and retail prices, which can limit market accessibility.
  2. Quality and Efficacy Perceptions: Some consumers still perceive natural cosmetics as less effective or lower quality compared to their synthetic counterparts, which can affect adoption rates.
  3. Regulatory and Certification Hurdles: Navigating the complex regulatory landscape and obtaining certifications for natural and organic products can be time-consuming and costly for manufacturers.
  4. Market Saturation: With the increasing number of natural cosmetics brands entering the market, competition is intensifying, making it challenging for new entrants to differentiate themselves.
  5. Supply Chain Issues: Sourcing high-quality natural ingredients can be challenging due to variability in supply and potential disruptions in the supply chain, affecting product consistency.
  6. Limited Consumer Education: Despite growing awareness, there is still a need for more education about the benefits and safety of natural cosmetics to fully engage and inform consumers.

Country-wise Insights into the Natural Cosmetics Market

United States

  • Market Trends: The U.S. is one of the largest markets for natural cosmetics, driven by increasing consumer awareness of health and environmental issues. The demand for clean, organic, and cruelty-free beauty products is rising.
  • Challenges: High competition and the need for rigorous certification can be barriers for new entrants. Additionally, high product costs can limit market reach.

Europe

  • Market Trends: Europe has a strong market for natural cosmetics, with countries like Germany, France, and the UK leading in demand. Regulatory standards are stringent, and there is a strong preference for organic and eco-friendly products.
  • Challenges: Compliance with diverse national regulations and the high cost of natural ingredients can be challenging for manufacturers.

China

  • Market Trends: The natural cosmetics market in China is expanding rapidly as consumer awareness about health and safety increases. There is a growing trend towards premium and organic beauty products.
  • Challenges: Navigating regulatory requirements and gaining consumer trust in the authenticity of natural products can be challenging.

 Japan

  • Market Trends: In Japan, there is a strong preference for high-quality and innovative natural cosmetics. The market is characterized by a blend of traditional and modern beauty practices.
  • Challenges: High consumer expectations for product efficacy and quality can be challenging for new brands entering the market.

 South Korea

  • Market Trends: South Korea has a rapidly growing natural cosmetics market, driven by the popularity of K-beauty trends and a strong focus on skincare. There is a high demand for innovative and effective natural products.
  • Challenges: Intense competition and the need for continuous innovation can be significant challenges for market players.

Brazil

  • Market Trends: Brazil’s natural cosmetics market is expanding, with increasing consumer interest in sustainable and organic products. The market is supported by a growing middle class and rising environmental awareness.
  • Challenges: Economic fluctuations and logistical issues can impact market stability and product availability.

Market by Category:

By Product Type:

  • Skin and Sun Care
  • Dry Skin
  • Acne
  • Sunburn
  • Hyperpigmentation
  • Oily skin
  • Fine lines and wrinkles
  • Dark circles and puffiness
  • Hair Care
  • Dry and damaged hair
  • Dandruff
  • Oily hair
  • Frizzy hair
  • Hair loss
  • Scalp irritation
  • Bath & Shower
  • Dry skin
  • Body odor
  • Eczema and psoriasis
  • Itchy skin
  • Rough and uneven skin texture
  • Men’s Grooming (Only Shaving)
  • Razor burn
  • Ingrown hair

By Consumer Orientation:

  • Male
  • Female
  • Unisex
  • Baby & Kids

By Packaging:

  • Bottles & Jars
  • Tubes
  • Pouches & Sachets
  • Pencils & Sticks

By Sales Channel:

  • Supermarkets/Hypermarkets
  • Department Stores
  • Specialty Stores
  • Online Sales Channel
  • Mono Brand Store
  • Other Sales Channel

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact FMI:   

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
LinkedIn| Twitter| Blogs | YouTube

Furniture Polish Market Outlook: Projected to Soar from USD 10.72 Billion to USD 22 Billion by 2033

The furniture polish market was valued at approximately US$ 10.72 billion in 2023. According to market research, this sector is expected to grow significantly, reaching a projected valuation of US$ 22 billion by 2033. During the forecast period, furniture polish sales are anticipated to achieve a compound annual growth rate (CAGR) of 7.4%.

Key Drivers

  1. Increased Homeownership and Renovations: Rising homeownership rates and frequent home renovations drive demand for furniture maintenance and polishing products.
  2. Growing Aesthetic Consciousness: An increasing focus on home aesthetics and furniture upkeep promotes the use of furniture polish to maintain and enhance the appearance of wood and other materials.
  3. Technological Advancements: Innovations in product formulations, including eco-friendly and multi-purpose polishes, contribute to market growth by offering improved performance and added benefits.
  4. Rising Disposable Income: Higher disposable incomes enable consumers to invest in premium and specialized furniture care products.

Distribution Channels

  1. Retail Stores: Supermarkets, hypermarkets, and specialty stores remain significant distribution channels.
  2. Online Retail: E-commerce platforms are experiencing significant growth, providing consumers with convenience and a wider range of options.
  3. Professional Services: Some polishes are distributed through professional cleaning and maintenance services.

Geographical Insights

  1. North America: Dominates the market with a strong presence of key players and high consumer awareness. The demand is driven by a high rate of homeownership and renovations.
  2. Europe: Growth is supported by increasing interest in home aesthetics and the adoption of eco-friendly products.
  3. Asia-Pacific: Emerging as a significant market due to rising disposable incomes, rapid urbanization, and a growing middle class.
  4. Latin America and Middle East & Africa: Experiencing steady growth driven by economic development and increasing consumer spending on home improvement.

Market Research Methodology – Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

Internet Penetration – A Key Influential Macroeconomic Factor Driving Market Growth

The average internet penetration around the globe has been rising at a significant rate with 2.8 Billion people aged above 15 years connected to the internet. Various e-commerce channels such as Walmart, Tesco, and Amazon have been considered as the preferred e-commerce platforms for purchasing products. This critical macroeconomic factor has been paving the way for the global furniture polish market growth in terms of value and volume sales.

Attributing to this, several key furniture polish manufacturers now consider online platforms as a key tool in triggering demand as well as sales for their various furniture polish products. For instance, in 2018, Sherwin-Williams – a prominent player in the global furniture polish market – launched an online tool that provides detailed specifications of its various furniture polish products for the North American market.

Recent Developments

  • Innovations: Introduction of new formulations with enhanced properties such as UV protection and anti-scratch features.
  • Sustainability Initiatives: Increased focus on eco-friendly packaging and natural ingredients in response to growing consumer demand for sustainable products.

Emphasis on Innovation and New Product Launches by Furniture Polish Companies

Consumer perception and buying behavior have been constantly changing with the new trends in various markets. The global furniture polish market has been witnessing a similar trend with its large customer base. With the use of various types of base materials such as hardwood gaining traction in the furniture industry, customers now seek furniture polish capable of maintaining the look of such hardwood furniture for a long span of time.

As a result, various furniture polish manufacturers have been strategizing on introducing new variants of furniture polish products to cater to the varying demands of its target customers. For instance, in 2015, Bona US, one of the key players in the global furniture polish market announced the launch of a new line of furniture polish under the brand name ‘Bona Wood Furniture Polish’, which is a liquid-based product that cleans and protects hardwood furniture. Furniture Polish Wipes are another innovation, these wipes are beneficial in removing sticky spills and stains and also help in protecting furniture from dust and allergens.

Competitive Landscape

  • Key Players: Major companies include SC Johnson Professional, Bona, Pledge (SC Johnson), Weiman Products LLC, and Howard Products, Inc.
  • Strategies: Leading brands focus on product innovation, sustainable formulations, and expanding distribution networks to enhance market reach.

Multinational Players are Relatively Highly Concentrated on a Global Scale, as Compared to Local & Regional Furniture Polish Manufacturers

The global furniture polish market is primarily characterized by the presence of a large number of regional and multinational companies. Detailed profiles of furniture polish companies have also been included in the global furniture polish market report to evaluate their strategies, key product offerings, and recent developments.

Some of the key players profiled in the global furniture polish market study include

  • Altana
  • Cleenol Group Ltd.
  • Liberon Limited
  • Reckitt Benckiser Group plc (Old English)
  • S.C. Johnson & Son, Inc. (Pledge)
  • The Sherwin-Williams Company
  • PPG Industries Inc.
  • Akzo Nobel N.V.
  • Axalta Coating Systems
  • Masco Cabinetry, LLC
  • RPM Wood Finishes Group
  • Blend well Chemicals
  • Milsek Furniture Polish Inc.
  • Golden Star Inc.
  • Other

Segmentation Analysis of the Furniture Polish Market

Product Type:

  • Solvent
  • Liquid
  • Aerosols

Source:

  • Alkyd
  • Melamine
  • Polyester
  • Lacquer
  • Others

End Use:

  • Household
  • Corporate Offices
  • Hospitality
  • Educational Institutes
  • Restaurants and Cafes
  • Furniture Manufacturers
  • Others

Sales Channel:

  • Wholesaler/Distributors
  • Supermarket/Hypermarkets
  • Specialty Stores
  • Online Stores

Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact FMI:   

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
LinkedIn| Twitter| Blogs | YouTube

Grain Alcohol Market Outlook: Expected CAGR of 4.2% Through 2032

The global grain alcohol market is projected to be valued at USD 15.6 billion in 2022 and is expected to grow at a CAGR of 4.2% from 2022 to 2032. Grain alcohol sales are anticipated to represent approximately 26.5% of the overall demand in the global ethanol market, which is valued at USD 59 billion in 2022.

Grain alcohol is produced by distilling fermented grains, which typically include corn, sugar, yeast, and water. Manufacturers may also use other grains, such as wheat and rye. The process involves fermenting the carbohydrate content of the grain with yeast, followed by multiple distillations of the ethanol to achieve the final product.

The use of grain alcohol is on the rise due to changing lifestyles, a growing middle class, and increased disposable income. These emerging economies provide a substantial supply of affordable labor, advanced technology, and relatively relaxed regulations regarding the production of high-quality alcoholic beverages.

Natural sources of grain alcohol, such as sugarcane, cereals, corn, and various fruits and vegetables, are plentiful, particularly in African, Asian, and Latin American countries.

Key Takeaways from Market Study

  • The grain alcohol market is expected to expand at CAGR of 4.2% over the forecast period.
  • Among the source, corn is dominating the segment holding around 41.6% of the revenue and it is expected to grow with CAGR of 2.6% over the forecasted period.
  • Among the functionality segment, disinfectant segment is expected to dominate the application segment holding more than 31.2% revenue share and it is expected to grow with around 2.3% CAGR over the forecast period.
  • Ethanol is dominating the type segment holding around 46.7% in 2022 and it is expected to grow with CAGR of 3.7% over the forecasted period.

Competitive Landscape

Key manufacturers of grain alcohol market are majorly focusing on research & development in order to develop innovative and unique product offering. In addition to this these key players in the grain alcohol market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and also to increase the existing production capacity.

  • In January 2021 MGP Ingredients, Inc. signed a definitive agreement to buy Luxco and its subsidiary firms. Luxco is a renowned branded beverage and alcoholic beverage firm with an extensive product portfolio. MGP Ingredients plans to expand its scale and market position in the branded-spirits sector as a result of the Luxco purchase.

Key Companies Profiled

Grain Processing Corporation; Manildra Group; Glacial Grain Spirits; Cristalco; Merck Group; Cargill; Archer-Daniels-Midland Company; Willmar Group; MGP Ingredients, Inc.; Roquette Frères

Get Strategic Guidance from Our Analyst Contact us on: +1-347-918-3531

Global Grain Alcohol Market By Category

By Source:

  • Corn
  • Fermented plant materials
  • Grains
  • Grapes
  • Sugarcane
  • Suragbeets
  • Tubers

By Application:

  • Beverage
  • Food
  • Pharmaceutical
  • Health Care and Personal Care

By Functionality:

  • Preservative
  • Solvent
  • Disinfectant
  • Antiseptic

By Type:

  • Ethanol
  • Polyols

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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
LinkedIn| Twitter| Blogs | YouTube