Pet Care Market registering above average CAGR of 9.7% between 2021 and 2031

Future Market Insights (FMI) in its latest study has forecast the global pet care market to rise at a CAGR of ~6.0% between 2021 and 2031. The increasing awareness about ingredients used in pet food products has made pet owners conscious while selecting food options for their pets.

Pet owners are aware about health benefits of natural and organic ingredients in pet care products. This has been giving tailwinds to the demand for organic and natural formulations. Pet owners prefer products that are free from artificial colors and preservatives, while providing a balanced nutritional profile for pets.

As per a report by the Association for Pet Obesity Prevention, it is estimated that 55% of dogs and cats in the U.S. are obese. This presents a huge opportunity for manufacturers to add quality ingredients and diet research to launch value added products to meet growing consumer interest towards premium products.

Product launches with value-added quality ingredients supports the demand for pet care products contributing to long term growth prospects. Taking advantage of this prevailing trend, companies in the market are expanding their offerings to include natural and organic options.

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For instance, the Kroger Co. offers natural food products for pets with proteins and essential nutrients. Besides, GMO (genetically organism free) food products are also available for pets in the market.

The rise in the number of pet owners and the growing awareness of veterinary health and investments into animal health organizations are swiftly boosting the prospects of manufacturers through the upcoming decade.

Key Takeaways from the Pet Care Market Study

  • Pet food is expected to hold a noteworthy revenue share of over 65% of all product sales. The growth is attributed to the demand for premium, natural, and organic ingredients.
  • Pet care for dogs is expected to contribute revenue share of 35.1% in 2021. The role of dogs as companions and the resulting humanization drives associated sales.
  • The U.S. leads the North America market accounting for 90% value share by 2031 owing to higher purchasing power.
  • The U.K. accounts for more than 25% of the Europe market with concerns over pet health and investments into product innovation.
  • China and South Korea are considered high growth markets for pet care in East Asia, reflecting a CAGR of over 14% with the penetration of key players with premium products.

Growing acceptance of technologically advanced automated pet care products, and increasing expenditure driven by trends of pet humanization will influence the revenue generation opportunities in the pet care market through 2031,” says an FMI analyst.

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Impact of COVID-19 on the Market

The outbreak of the novel coronavirus has resulted in an economic downswing owing to disruptions in business operations in various verticals. The retail industry is one of the hardest hit sectors in this crisis. Reduction in the overall discretionary spending, is a temporary challenge for the players.

Many daycare centers and pet hotels were made temporarily non-operational, which has further caused a temporary decrease in the overall revenue of the pet care market. In light of this situation, players are now focused on improving online penetration, as this provides an opportunity to access a wider consumer base at once within minimum costs.

Who is Winning?

Major players present in the pet care market are focusing on aggressive promotional strategies, advertisements, and new product launches have driven sales growth of pet care products and services globally.

Some of the leading players in the industry are Procter & Gamble Co., JM Smucker Co, Nestlé Purina Pet Care Co, Monge & C. Spa, Hill’s Pet Nutrition SNC, Royal Canin SAS, Affinity Petcare France SA, Champion Pet Foods LP, Cargill, C & D Foods, Aller Petfood, Bob Martin, Blue Buffalo Co. Ltd., Cambrian Pet Foods Ltd., Crosswind Industries Inc., and Crown Pet Foods Ltd., among others.

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Get Valuable Insights into Pet Care Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global pet care market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the pet care market based on the service (product{ pet food, pet healthcare, fashion, toys, and accessories}, professional service {day care, grooming boarding, pet breeding and training} value added services {insurance, veterinary care, pharmacy, adoption and charity, crisis relief service}) pet type (dogs, cats, birds, fish and reptiles, small pets, and horses & other livestock), service channel (modern trade, convenience stores, care services centres, veterinary clinics, online retailers, support care centres and pet specialty stores across seven major regions.

Elevator And Escalator Market Is Anticipated To Witness Growth Of ~6.6% CAGR During The Forecast Period From The Year 2020 To 2030

Elevator and Escalator Market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030.Expansion of the building and construction industry has been a chief driver of the global elevator and escalator market. Elevators and escalators being an integral part of the residential as well commercial buildings are witnessing impressive surge in demand all over the world.

Advancement in the Internet of Things (IoT) technology is further catering to the market growth with the rising incorporation of ultra-modern facilities starting from elevator safety solutions to elevator air purification equipment.

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Companies operating in the elevator and escalator market are focusing on cutting-edge technologies to make their products safer and eco-friendly, finds Future Market Insights (FMI) in a recent study.

Some of the leading companies are incorporating IoT technologies in connected elevators and escalators. This has allowed them to control various parameters such as load capacity, frequency of usage, and others. Such technological improvements are expected to bode well for the overall market.

According to FMI, the elevator and escalator market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030.

Infrastructural development witnessed across the world, besides increase in population is encouraging growth in the construction industry. This has been creating growth opportunities for the elevator and escalator market. Despite requiring expert handling and maintenance expenditure, the demand for elevators and escalators are projected to increase further in the coming years.

The recent COVID-19 outbreak has resulted in declining market growth. However, several factors are expected to drive the elevator and escalator market during the forecast period.

FMI offers an exhaustive overview of the elevator and escalator market along with its potential, growth drivers and restraints.

Some of the key takeaways from the report are highlighted below-
  • Product-wise, elevator is expected to lead the market followed by escalator during the forecast period
  • Load type-wise, passenger segment will exhibit hegemony in the coming years
  • New system installation type is set to gain traction in the global market
  • Commercial end use segment is projected to exhibit highest growth followed by the residential segment throughout the forecast period
  • New-age IoT technology will cater to the steady market growth in the near future
  • East Asia elevator and escalator market will maintain the lead while emerging as the highest growing market among all other regions

 “As the building and construction industry is expanding rapidly, the demand for elevators and escalators is rising higher. To capitalize on prevailing opportunities, market players are launching novel cutting-edge technologies that offer more sophisticated functionalities in elevator and escalator. This is anticipated to create lucrative growth opportunities for the market in the coming years,” says an FMI analyst.

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COVID-19 Impact Analysis

The elevator and escalator market growth has been declining due to the novel coronavirus outbreak. As consumers have shifted their focus more on emergency services such as medical, diagnostic, pharmaceutical and others instead of building and construction sectors, the market growth rate has fallen temporarily.

Added to this, the factors such as non-operational manufacturing units, unavailability of labours, scarcity of raw materials, disruptive supply chain and logistics sector, financial crisis, job recession, and others have slowed down the progress of market.

According to FMI, the elevator and escalator market is set to recover by the first quarter of the year 2021.

Who is Winning

As the elevator and escalator market potential is rising steadily, the key market players are focusing on launching advanced designs to gain competitive edge. For instance, DOPPLER S.A. has launched their DOPPLER Lift Hygiene Solutions equipped with air sterilizer using UV photo catalyst sterilization and UV antibacterial light disinfection system in 2020.

Kone Corporation has launched Kone Health & Wellbeing Solutions for Elevators and Escalators which include escalator handrail sanitizer, elevator remote call using whatsapp, elevator air purifier, and others in June 2020.

Some of the leading companies operating in the market are DOPPLER S.A, Kone Corporation, Orona Group, EMAK Elevator, Sanyo Elevator (Zhuhai) Co., Ltd, and others.

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Key Segments

Product Type

  • Elevator
    • Hydraulic
    • Traction
    • Machine
    • Room Less
  • Vacuum
  • Escalator
    • Step Type
    • Belt Type
    • Cleat Type
    • Spiral

Load Type

  • Passenger
  • Freight
  • Observation
  • Others

Installation

  • New
    • System
    • Installation
  • Retrofit

End Use

  • Residential
    •  Low Rise Building
    • Mid Rise Building
    • High Rise Building
  • Commercial
    •  Hotels
    • Airports
    • Subway Station
    • Commercial
    • Complex
    • Office & Institution
  • Hospital
  • Infrastructure & Construction
  • Transportation &Logistics

Region

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

Blinds And Shades Market is expected to surpass a valuation CAGR of approximately 4.4% through 2029

According to a recent report by Future Market Insights (FMI), blind & shades market is expected to surpass a valuation of US$ 13.6 Bn in 2021 and at a CAGR of approximately 4.4% through 2029.

Customer’s increasing surge for personalized control on the management of the light and air, is encouraging manufacturers to launch innovative blind & shades in the market with their increasing focus on fully automated products.

Furthermore, smart-phone enabled operations associated with blind & shades is registering new opportunities for the global market. In addition, development of blinds integrated with the voice recognition technology is transforming the home décor industry trends which in turn is positively influencing growth of global blind and shades market in terms of value.

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For example, IKEA has developed remote-controlled blinds equipped with voice recognition features and a smart lightning kit. These automated shades can also be controlled via smartphones for customized experience and are compatible with AI-enabled virtual assistant, including Alexa, and Google Assistant.

Moreover, in the blinds and shades market, manufacturers have the option of producing eco-friendly blind and shades. In the current market, only a few companies are creating eco-friendly blind and shades, which opens up potential for other businesses to invest in sustainable interior décor items.

Growing consumer knowledge of sustainable or eco-friendly products is expected to influence their purchasing decisions. As a result, the market in developed nations with strong consumer awareness has the potential to grow.

Key Takeaways from the Blind & Shades Market Study

  • Blinds and shades made of natural fibers is witnessing a significant growth in the global market. The customer’s awareness for their health and for environment is significantly supporting sales of natural blinds and shades.
  • East & South Asia would remain the prominent region in the global blinds & shades market owing to rapid expansion of residential sector. E-commerce expansion will also be pivotal in accelerating the market build-up in this region.
  • Smart windows are leaping the sales of blind & shades due to growing innovations such as windows controlled by a click of a button using rechargeable batteries and voice-activated window coverings.
  • The U.S. is expected to register a CAGR of 2.2% in North America due to increasing trend of customized blind & shades as well as smartphone controlled blind & shades.

“Adoption of omnichannel sales strategy by manufacturers and growing customer inclination towards natural material-based blinds & shades are expected to offer significant market growth opportunities.” says an FMI analyst.

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Impact of COVID-19 on the Market

The COVID-19 pandemic had a significant influence on the world economy at numerous levels, and this impact was felt to a large extent in the construction industry. The COVID-19 pandemic issue also had an impact on the blind and shade market, which saw a significant drop in demand in 2020.

The COVID-19 outbreak affected the supply and delivery of construction materials, causing governments to enact lockdown. The transfer of activities in operations and vendor operations impacted the manufacturing. The blind and shade production process has become a headache for enterprises due to limited labour availability, disrupted raw material supply, and logistical challenges.

Who is winning?

Leading manufacturers of blind & shades are focused on aggressive promotional strategies and advertisements that have driven sales growth of Blind & Shades globally.

Major players present in the blind & shades market are Ching Feng Home Fashions Co., Ltd., Griesser AG Electrocomponents PLC, Hunter Douglas NV, Lafayette Venetian Blind Inc., Legrand, Lutron Electronics Company, Mechoshade Systems LLC, Nien Made Enterprise Co. Ltd., Persianas Canet S.A, Qmotion Shades, Schenker Storen AG, Solarfective Products Limited, Springs Window Fashions LLC, TOSO CO. LTD. among others.

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Metalworking Fluids Market Expected to Reach US$ 1,493.7 Mn by 2028,

Furfuryl alcohol (C4H3OCH2OH), also known as 2-furylmethanol or 2-furancarbinol, is an organic compound containing a furan substituted with a hydroxymethyl group. Furfuryl alcohol is made from furfural by means of catalysis with hydrogen. It is colourless or pale yellow in appearance and finds adoption in various applications. As a result, the global market for furfuryl alcohol is expected to witness significant growth in 2022, reaching a market value of US$ 836.2 Mn with a y-o-y growth rate of 4.5% as compared to 2017. Furthermore, the global demand for furfuryl alcohol will also be influenced by the rising utilisation of the chemical in pharmaceutical solvents and wood impregnation.

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The strong shift towards the development of bio-based chemicals against the backdrop of volatile petrochemical prices is expected to remain a key driver for the growth of furfuryl alcohol market. Predominantly, over the years, the consumption of furfuryl alcohol in foundry resins has reached an unprecedented level, owing to the physical and chemical properties possessed by furfuryl alcohol.  Increasing industrial production, relatively stable economic conditions and consistent growth in automotive sales in various regions such as India, SEAP and China are the factors estimated to drive the growth in the demand for furfuryl alcohol.

In the recent past, the furfuryl alcohol market has witnessed significant developments from the competition perspective. Production capacity expansion and commencement of production are some of the preferred strategies opted by prominent players to sustain and enter in the global furfuryl alcohol market.

Based on the application, the foundry resin segment is expected to remain dominant in terms of the global furfuryl alcohol market volume share and account for approximately an 88.6% share by the end of 2028.

Based on source type, corn cob raw material is expected to remain behemoth in the global market and account for more than 86% of the revenue by 2028-end. Corn cob is one the most consumed raw materials in the production of furfural and then, furfuryl alcohol. On the other hand, the production of furfuryl alcohol from sugarcane bagasse is expected to grow at a CAGR of 6.4%. In terms of growth, bagasse will remain one of the most attractive segments. Importantly, sugarcane bagasse has a yield just next to that of corn cob.

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In 2021, China was the most attractive region in the global furfuryl alcohol market and accounted for more than 61.3% of the global market share. Further, being at the forefront in terms of furfuryl alcohol production and consumption, China is pegged to control the global furfuryl alcohol market in the future as well.

The increasing demand for furfuryl alcohol has influenced prominent manufacturers to expand their production facilities. In India, various manufacturers are poised to start the production of furfuryl alcohol on account of the anticipated demand rise in the coming years.

Hongye Holding Group Corp., Ltd., Zibo Huaao Chemical Co., Ltd., International Furan Chemicals B.V., China XLX Fertilizer Ltd., Aurus Speciality Company Limited, Xingtai Chunlei Furfuryl Alcohol Co., Ltd., Silvateam, Shijiazhuang Worldwide Furfural and Furfuryl Alcohol Furan Resin Co. Ltd., KRBL Ltd. and Illovo Sugar (PTY) Ltd. are some of the key players involved in the global furfuryl alcohol market.

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Analysts who have compiled this report are available for interviews and quotes at press@futuremarketinsights.com

About Chemicals & Materials division of FMI

The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials  market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

Digital Transaction Management Market 2021 Growth, COVID Impact, Trends Analysis Report 2028

The global digital transaction management market revenue totaled ~US$ 2,385.0 Mn in 2021, according to Future Market Insights (FMI). The overall digital transaction management market is expected to reach ~US$ 16,284.8 Mn by 2028, growing at a CAGR of around 31.7% for 2022 – 28.

Digital Transaction Management (DTM) solution is estimated to be nearly 45% of global document management market. Increase in the adoption of digital transformation technologies is the major factor driving the market growth. DTM is the part of the cloud services specially designed to manage the digital document based transactions. Digital transaction management delivers numbers of benefits to the enterprises, which include collaborative document management and optimizing document-based tasks for better customer experience. Enterprises can use DTM solutions in multiple segments, such as HR, sales, finance, IT, legal, and procurement.

Digital transaction management market is growing rapidly, and an increasing number of enterprises and organizations are adopting the solutions. Automotive, manufacturing, BFSI and telecommunication are significant industries adopting the DTM solutions. Also, the digital transaction management developers are focusing on the collaboration with cloud service providers as the potential of digital documents is complemented by cloud computing to perform real-time documents monitoring and debugging.

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Developed countries are working continuously on transforming their paper work into digital means. Nowadays, several regions are receiving investments from companies for the adoption of digital transaction management solutions and services. The governments of several countries are primarily focused on adopting digital transaction management software and tools for security, accessibility, privacy, universality, scalability and interoperability. Companies are working on implementing new technologies, such as electronic signatures and workflow automation, especially in the BFSI and transportation sectors.

To understand and assess the demand and opportunities in the digital transaction management market, the report is categorically split into digital transaction management market analysis by component, vertical, end user and by region. Digital transaction management market analysis by component comprehensively analyses the market on the basis of solutions and services analysis in terms of value for 2018-2028. Digital transaction management market analysis by vertical analyses the digital transaction management market on the basis of retail, BFSI, healthcare, IT & telecommunication, travel & transportation, manufacturing, government and others. Digital transaction management market analysis by end user analyses the digital transaction management market on the basis of large enterprises and small and midsized enterprises.

In 2017, the solutions segment dominated the digital transaction management market followed by the services segment. Moreover, the solutions segment is projected to expand at the fastest CAGR of 30.9% over the forecast period in the digital transaction management market in terms of revenue, followed by the services sub-segments.

The section market analysis by vertical analyses the digital transaction management market based on different segments and data is provided in terms of value for 2018-2028. The retail sub-segment of the digital transaction management market is expected to expand at a significant CAGR of 30.5% in terms of value during the forecast period. In terms of digital transaction management market share, the BFSI segment accounted for a major percentage of the revenue share of the overall digital transaction management market in 2017, and is also expected to dominate the digital transaction management market throughout the forecast years.

Digital transaction management market analysis by region includes an in-depth country-level analysis of all the global regions, namely North America, Latin America, Western Europe, Eastern Europe, SEA & Others of APAC, China, Japan and the Middle East & Africa, as well as countries in these regions, and provides market data in terms of value for 2018-2028 for the digital transaction management market. In 2017, the digital transaction management market in North America dominated the overall global digital transaction management market, followed by the market in Western Europe.

Digital Transaction Management Outlook by Category

By Component:

  • Digital Transaction Management Solutions
  • Digital Transaction Management Services

By End-User:

  • Large Enterprises
  • Small and Midsize Business

By Vertical:

  • Retail
  • BFSI
  • Healthcare
  • IT & Telecommunication
  • Travel & Transportation
  • Manufacturing
  • Government
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • Japan
  • SEA and Others of APAC
  • Middle East and Africa (MEA)

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Key players reported in this study on the global digital transaction management market are Adobe Systems Incorporated; Namirial SPA; DocuSign Inc.; Nintex Global Ltd.; HELLOSIGN; ZorroSign, Inc.; AssureSign LLC; ThinkSmart LLC; Kofax, Inc. and eOriginal, Inc.

Key Questions Answered in the Report

  • Which region is expected to showcase high demand for digital transaction management?

– China is projected to register strong growth in the market, exhibiting a CAGR of nearly 30.3% from 2022-2028.

  • Who are some of the leading companies offering digital transaction management solutions?

-Adobe Systems Incorporated, Namirial SPA, DocuSign Inc., Entrust Datacard Corporation, and OneSpan among others, are the top 5 digital transaction management solution and service providers. They are likely to account for over 25% of the global market.

  • In which industries the adoption of digital transaction management growing?

-BFSI segment is expected to dominate the market over the forecast period, generating a maximum revenue among all industries by the end of 2028.

  • How much is the global market for digital transaction management worth?

-The market for digital transaction management was valued at ~US$ 2,385.0 Mn in 2021, and is estimated to grow at a steady pace with a CAGR of around 31.7% to reach ~US$ 16,284.8 Mn by 2028.

  • What is driving demand for digital transaction management?

– Increase in the adoption of the digital document workflows and collaborative document management across enterprises happens to be the major factor driving the market growth.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Mobile Application Testing Solution Market Share, Revenue, And Average Price By Manufacturers Shared In A Latest Research Report

The global mobile application testing solution market is expected to witness a CAGR of 18.5% during the forecast period (2019-2029). Revenue generated by global mobile application testing solution market is estimated to reach US 20, 350.2Mn by 2029, increasing at a CAGR of 18.5% during the forecast period. Requirement for immediate regression testing with enhanced growth of m-commerce is expected to drive the demand for mobile application testing solutions worldwide. Trends such as Bring Your Own Device (BYOD) and enterprise applications are likely to boost demand in the corporate sector.

Enterprises are always looking for quick updates and bug fixes for their mobile application software. However, every time an application is updated, it is required to undergo thorough testing. This is because even a small change in the coding of an application may impact the behavior of those functions that are not necessarily in direct connection. Regression testing validates and confirms the overall performance of an application after updates are introduced to it. Immediate regression testing can be executed with the incorporation of automated testing. For instance, IBM Corporation focuses on enhancing performance of mobile applications, while reducing the number of test cases with its regression testing services. Enterprises are adopting automated testing to accelerate the time-to-market of their mobile applications.

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The global mobile application testing solution market is anticipated to witness significant revenue growth during the forecast period, owing to a rising demand across commercial and corporate sectors. Requirements for regression testing, the need to tackle issues caused due to device diversity, and increasing mobile applications such as m-commerce are the major drivers for the rise in demand for mobile application testing solutions globally.

Key Takeaways of Mobile Application Testing Solution Market Study

  • The automated testing segment is estimated to hold significant market share during the forecast period as the automation testing can save time and cost and also provides reliable results compared to manual testing.
  • Among all devices, smartphones is estimated to register notable CAGR as the demand is increasing for smartphones to resolve various queries or gather information or find solutions to meet everyday requirements which is resulting in a growing demand for such devices.
  • Asia Pacific region is witnessing an impressive growth rate in the mobile application testing solution market due to increasing popularity of messaging platforms, new innovative apps and also the IT firms in the region are investing more money to meet increasing customer demands to improve mobile application testing.

global mobile application testing solution market

m-Commerce Popularity driving the Demand for Rigorous Testing

Usage of m-Commerce distribution channel is estimated to increase with the increasing number of smart mobile device users opting for online wallet and e-Payment features. Developers are offering advanced testing for mobile applications used for the purpose of banking and financial services. These advanced tested applications ensure data security and eliminate the threats of cyber-attacks and privacy breaches. Such features are estimated to boost the adoption of mobile application testing solutions in the market during the forecast period. For instance, Apple Inc. offers users the option of online payment on Apple Inc.’s phones using its app Apple Pay. Other service providers are also developing their own online payment apps. As a result, improved testing and debugging processes are required to be performed to ensure enhanced and secure security and privacy of users.

More Valuable Insights on Mobile Application Testing Solution Market

FMI’s report on the mobile application testing solution  market  is segmented into five major sections such as type (interactive testing, automated testing), platform (windows, android, iOS, and other), device (smartphones, tablets), end-user (residential, corporate) and region to help readers understand and lucrative evaluate opportunities in the mobile application testing solution  market.

Mobile Application Testing Solution Market: Segmentation

The global Mobile Application Testing Solution Market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

Type

  • Interactive Testing
  • Automated Testing

Platform

  • Android
  • iOS
  • Windows
  • Others

Device

  • Smartphone
  • Tablet

End User

  • Residential
  • Corporate
    • Small Enterprises
    • Medium Enterprises
    • Large Enterprises

Region

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

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Frequently Asked Questions about Mobile Application Testing Solution Market

What are the future opportunities in the Mobile Application Testing Solution market?

Combination of various testing tools to achieve better performance, increasing adoption of smart connected wearable devices, error elimination during application testing using advanced testing tools. These factors are creating opportunities for the mobile application testing solution provider.

What are the major challenges for Mobile Application Testing Solution Market?

An increasingly agile mobile environment and higher demand for interactive testing over automated testing are the major challenges restricting the growth of the mobile application testing solution market.

Which type of testing will have significant growth in the forecast period?

The automated testing is estimated to hold significant growth owing to the factors like increase efficiency, improves accuracy, consistency, better speed in executing, and no human intervention required.

Which devices holds potential growth opportunities for market players?

The smartphones segment holds potential growth opportunities as the demand is increasing for smartphones to resolve various queries or gather information or find solutions to meet everyday requirements which is resulting in a growing demand for such devices.

Which region is expected to be at forefront in the Mobile Application Testing Solution market?

Asia Pacific is anticipated to remain at forefront, offering high growth opportunities for players in the mobile application testing solution market due to rapid technological advancements such as introduction of IOT in mobile application are providing opportunities to mobile application testing solution providers in the region.

Who are the major companies leading the Mobile Application Testing Solution market?

Prominent companies in the Mobile Application Testing Solution market include LG Digital, Sony Corporation, Innolux Corp, Sharp Corporation, Panasonic Corporation, Samsung Electronics, AU Optronics.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Salesforce Services Market Segmentations, Key Company Profiles and Demand Forecasts to 2021 – 2030

FMI’s new analysis values the global Salesforce services market at US$ 7.8 Bn in 2018, with revenues set to grow at 12.6% y-o-y in 2019. The research study remains bullish on the growth prospects of Salesforce services market through 2029. However, lack of flexibility in pricing models and budgetary considerations among end-users can create challenges for wider adoption. The study by FMI analyzes the global Salesforce services market for the period 2019-2029.

Salesforce services providers are investing in hiring and training programs. Consultants need to know the specific issues of performing a SaaS solution, which requires a different mind-set for assumptions and deployments. The providers of managing services are more focused on offering new opportunities to consultants, which include support services, implementation, and job rotations, across various parts of consulting.

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This study delineates the growth prospects of Salesforce services during 2019-2029, and forecasts a CAGR of 14.3% for the market revenues. For compelling insights on Salesforce services market

As Salesforce services defy the ‘one-size-fits-all’ concept, service providers are offering end-to-end assistance to help end-users get services that are best-suited to their requirements. With thousands of Salesforce implementations across multiple enterprises, the Salesforce service providers are extensively focusing on creating impactful experiences to generate substantial profits. Opportunities galore for manufacturers with the increasing focus of businesses on improved customer engagement and interaction – key imperative driving growth and profitability amid competitive spaces. Some of the highly-effective Salesforce offerings- marketing cloud, commerce cloud and community cloud to name a few- have gained immense popularity over the years, which is further nudging businesses to choose Salesforce services for long-term returns.

According to the FMI report, implementation continues to remain a highly-preferred service, which is broadly categorized into integrated services, application modernization & data migration, custom application development, and testing services. Enterprises will continue to sustain high demand for Salesforce managed services, wherein these businesses get assistance from a whole team of experienced Salesforce administrators as well as consultants for effective management of their Salesforce functions.

North America – A Hub of Opportunities for Service Providers

According to the report, increasing adoption of Salesforce services in the BFSI sector is likely to continue, making it one of the most lucrative verticals for the Salesforce service vendors. Over the years, the focus of BFSI is shifting toward fruitful customer engagement in real time and across any device. This, in turn, is pushing the demand for adoption of Salesforce services in BFSI, thereby giving new opportunities for the Salesforce service vendors to reap profits from. Growth prospects for the Salesforce services, as the report opines, are high in North America, particularly in the US. In addition, the adoption of Salesforce services in Western Europe is estimated to intensify by the end of 2029, which is likely to encourage the vendors to solidify their service capabilities.

As far as growth and expansion are concerned, strategic business partnerships and acquisitions will continue to be the best way forward for vendors. Those alliances will lay the foundation for bespoke innovations to come to the fore, thereby creating a ‘win-win’ for both the parties involved. Considering the challenges enterprises face in terms of Salesforce deployment, key service providers active in the market will continue to focus on offering unmatched support and assistance in a bid to ensure client satisfaction and engagement. In addition, Salesforce service providers will also continue to center on getting ‘Salesforce service certifications’ to reap benefits in the long-run, as these certifications will not only help them strengthen their core competencies but also expand their client bases.

Key Segment

By Type of Services

  • Planning
    • Advisory Services
    • Change Management
  • Implementation
    • Integrated Services
    • Application Modernization & Data Migration
    • Custom Application Development
    • Testing Services
  • Manage
    • Monitoring
    • Upgrade
    • Governance
    • Helpdesk
    • Training
    • BPO

By Vertical

  • BFSI
  • Manufacturing
  • Media & Communication
  • Retail & CPG
  • Public Sector
  • Healthcare & Life Sciences
  • High Tech
  • Others

By Application

  • Sales Cloud
  • Service Cloud
  • Marketing Cloud
  • App Cloud
  • Commerce Cloud
  • Analytics

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Salesforce Services Market Structure Analysis

  • The global salesforce services market serves a reasonably consolidated competition landscape, where a majority of key players maintain their strategic focus on the development, joint enterprises, & partnerships, and target a stronger global footprint.
  • The salesforce services market is estimated to be fragmented, which remains a key factor for its dynamic competitive nature.
  • Leading Salesforce services vendors account for around 32%-34% of the overall market. Vendors such as Accenture, Deloitte, IBM, and Wipro are among the largest and most experienced in the industry, and have a significant regional coverage.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Smart TV Market Projected to Record Highest CAGR% by 2021 to 2031

With the surge in the demand for smart TVs, leading manufactures have now shifted their focus on technologies that cater to multi-functional consumer needs. Future Market Insights (FMI) in its latest study has forecast the smart TV market to rise at a CAGR of ~24.7% between 2021 and 2031.

Innovations are transforming the television industry by integrating advanced technologies like artificial intelligence (AI), Internet of Things (IoT), Google Assistance, and internet connected services in latest models of smart televisions, which were not available in traditional cathode-ray tube (CRT) televisions.

The smart TV industry consists of several big players like the Samsung Group, TLC Corporation, Panasonic Corporation, and Sony Corporation. The smart TV industry is being viewed as lucrative investment opportunity due to enormous customer interest.

Partnerships between big companies and small players are bolstering the scope for growth. Manufacturers are focusing on developing innovative product features, in addition to effectively developing sales and distribution channels. Most consumers focus on online product research before making a purchase.

As a result, manufacturers are increasing their product presence and online availability. In addition, the increasing popularity of smart homes among middle-class urban population is a major factor fuelling the demand for smart TVs in the market.

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Key Takeaways from the Smart TV Market Study

  • The 45- 50 inches’ segment accounted for a 22.3% share in 2020, which is attributable to the increasing penetration of 4K TVs in the higher economic consumer class.
  • Multi-brand stores are a popular distribution channel, accounting for over 29% of the market. However, online sales are expected rise at 27.3% CAGR.
  • The U.S. currently holds the lead accounting for 79.5% of the North America market, driven by increasing consumer expenditure on lifestyle products.
  • Japan is expected to register high potential for growth, accounting for an estimated 51.7% share in East Asia market by the end of 2031, supported by easier access to new technologies.
  • India followed by Indonesia are projected to emerge as lucrative markets in South Asia, holding over 32% and 23% share.

Impact of COVID-19 on the Smart TV Market

The COVID-19 pandemic has adversely impacted the smart TV market. Lockdown imposed by governments, suspended operations in manufacturing facilities. Restrictions were imposed on the movement of non-essential goods and services for months, which hampered the overall supply/distribution for smart TVs across the globe.

Samsung which has manufacturing facilities in Vietnam, the Czech Republic, and Hungary was relatively less affected in 2019. However, with the closing of Hungary’s boarders and the lock down in Czech Republic, Samsung faced difficulties in operating its European facilities.

The outbreak had a negative impact on businesses in 2020 and continued to affect operations in 2021. However, in the current scenario, the smart TV market is expected to recover steadily from the downfall in the forecast period.

Who is Winning?

Key players operating in the smart TV market include Samsung Electronics Co., Ltd, Panasonic Corporation, LG Electronics, Inc., Sony Corporation, Videocon Industries Limited, Haier Electronics Group Co, Ltd, TCL Corporation., Hisense Group, Sansui Electric Co., Ltd., Micromax Informatics, Sharp Corporation, VIZIO, Inc., Apple Inc, Toshiba Corporation, Hitachi Ltd and among others.

Players in the moderately consolidated smart TV market are largely involved in strategies for product development and launches in addition to investments for geographical and capacity expansion to sustain long term growth.

  • In March 2020, Samsung Electronics Co., Ltd. announced the latest and expanded line of 2020 QLED 4K and 8K TVs at select retailers. The latest and expanded 8K series in the 2020 series has larger screen sizes, improved AI capabilities for the 4K and 8K models, and is designed to provide superior image and sound qualities.
  • In July 2020, Indian television brand Shinco, launched its latest television, the S43UQLS 43- inch 4K HDR LED Smart TV. This is one of the most affordable 4K televisions on the market of this size, as most 43-inch televisions at this price have full-HD LED displays.
  • In April 2020, Sharp Corporation, announced two new 8K smart TVs for the Japanese market, namely the Sharp Aquas 8T-C70CX1 and the Sharp Aquos 8T-C60XX1, which include 70-inch and 60-inch 8K panels.
  • In April 2021, Samsung and Mediatek, announced the world’s first 8K QLED TV – which will deliver the fastest connectivity experience through its cutting-edge WI-FI 6E capabilities.

Get Valuable Insights into Smart TV Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global smart TV market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the smart TV market based on the display technology type (LED, QLED, HDR, OLED, LCD, IPS LCD, and XLED), screen type (flat, curved and foldable), screen size (32 inches and under, 33 to 44 inches, 45 to 50 inches, 51 to 55 inches, 56 to 65 inches, 66 inches and above), application type (residential and commercial{ hotels, restaurants, corporate offices, cafeterias, and others}) price (under US$ 500, US$500 – US$ 1000, US$ 1000 – US$ 2000, US$ 2000 – US$ 3000 and US$ 3000 and above), sales channel (hypermarkets/supermarkets, speciality stores, multi-brand stores, online retailers, wholesalers & distributors, and other sales channel), across seven major regions.

Key Points Covered in Smart TV Market Survey

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Smart TV Market and how to Navigate
  • Recommendation on Key Winning Strategies

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Key Questions Answered in the Smart TV Market Report

  • What is smart TV market size?

Driven by the growth of e-commerce and the proliferation of the UHD technology, the global smart TV market size will surpass US$ 388.7 Mn in 2021, and it is expected to reach US$ 3.5 Bn in 2031.

  • At what rate did the smart TV market expand in the last five years?

According to FMI’s analysis, smart TV sales have grown at 17% CAGR between 2016 and 2020.The market’s valuation stood at over US$ 327.3 Mn in 2020.

  • What are the key trends shaping the smart TV market?

There is an increasing focus on UHD and 4K display technologies in the market. Companies are currently focusing on curved screen offerings. Besides this, e-commerce sales will result in increasing demand for the foreseeable future.

  • What are the key factors driving smart TV demand?

Key drivers fuelling the demand for smart TV include lower costs of new display technologies, increasing use of e-commerce channels, and higher growth in lifestyle standards and disposable incomes in emerging economies.

  • What is the North America smart TV market outlook?

Demand in North America will continue to rise, backed by increasing sales in the U.S. and Canada. As per FMI, North America currently holds more than 24.4% of the global smart TV market in 2021. The market will rise at 10.3% between 2021 and 2031.

  • Which Countries are Key Producers of Smart TVs?

Leading producers of smart TVs include South Korea and China, followed by Japan and the U.S.

  • What is the cumulative share of top five companies in the smart TV market?

The cumulative share of the top 5 smart TV companies including Samsung Electronics Co. Ltd., LG Electronics Inc., Sony Corporation, TCL Corporation, and Sharp Corporation equals 66.5% in the global market.

  • Who are the Key Exporters of Smart TVs?

Crystal Export Co., Limited., Funai Electronics Co., Ltd., Express Luck Technology Ltd., Thai Samsung Electronics Co. Ltd., TCL, and Shanghai Audren Electric Technology Co., LTD. are the leading exporters of smart TVs.

  • Which are the top countries driving demand for smart TVs?

Denmark, Germany, the U.K., the U.S., and Sweden have emerged as leading countries aiding the demand for smart TVs.

  • What are the key statistics for smart TV market in Japan and South Korea?

Japan and South Korea are estimated to hold a market value share of 35% and 22.8% in the East Asia smart TV market in 2021.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

video intercom device market is likely to flourish at a CAGR of 13.1% until 2027

The global video intercom device market is expected to register a CAGR of 13.1% during 2017 – 2027, with North America, Western Europe, and APEJ accounting significant shares by the end of the forecast period.

Increased check on trespassing, ensuring safety of property, and communication with visitors are some of the significant factors that can propel the market during the forecast period.

As per the analysis, North America is predicted to lead the global market, with the maximum contribution coming from the residential segment. In APEJ, India and China are likely to make significant participation in strengthening the regional market.

FMI has delivered the key insights on the global video intercom device market in its report titled “Video Intercom Device Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”. The growth of the global video intercom device market is expected to be attractive as the market is expected to grow continuously at a CAGR of 13.1% in terms of value during the forecast period, 2017 – 2027.

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Video Intercom Device Market: Dynamics Impacting Revenue Growth

Since the last few years, the adoption of video intercom device has increased considerably, especially in the residential segment. The manufacturers of video intercom devices are planning to reduce the overall as well as the installation cost. Apart from building and societal security infrastructure, video intercom devices are deployed for baby monitoring purpose facilitating parenting ease, by providing information about the baby’s routine activities.

The door/entrance system segment in the global video intercom device market is expected to witness significant growth over the forecast period. The system sends an alert signal to the user regarding the entry and exit of a known or unknown person, even if the user is not present at the premise, which is the prime factor driving the demand for door/entrance system.

On the basis of FMI’s analysis, the door/entrance system is expected to be the dominant sub-segment in the global video intercom device market, followed by the handheld device sub-segment over the forecast period. On the basis of vertical, the residential is expected to the dominant sub-segment in the global video intercom device market. In terms of technology, the IP-based sub-segment is expected to grow at a high CAGR over the forecast period.

Key Segments Covered 

Product

  • Baby Monitoring System
  • Handheld Device
  • Door/Entrance System

Technology

  • IP-based
  • Analog-based

Vertical

  • Government
  • Residential
  • Commercial
  • Manufacturing/Industrial

Key Regions Covered

  • North America Video Intercom Device market
    • U.S.
    • Canada
  • Latin America Video Intercom Device market
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Video Intercom Device market
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Video Intercom Device market
    • Russia
    • Poland
    • Rest of Eastern Europe
  • APEJ Video Intercom Device market
    • China
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of APAC
  • Japan Video Intercom Device market
  • MEA Video Intercom Device Market
    • GCC Countries
    • Turkey
    • South Africa
    • North Africa
    • Rest of MEA

Video Intercom Device Market: Competition Analysis

According to FMI’s analysis, the integration of advanced technologies by the manufacturers of video intercom devices, along with enhancement of functionality will help increase their revenues in the video intercom device market. Examples of some of the key participants operating in the global video intercom device market are Panasonic Corporation, Honeywell Security, LEGRAND, Godrej Industries Limited, Zicom, Zenitel, Aiphone Corporation, Comelit Group S.P.A., Dahua Technologies Co. Ltd., and Hangzhou Hikvision Digital Technology Co. Ltd.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.futuremarketinsights.com/toc/rep-gb-1000

Key Questions Answered in the Report

  1. What is the anticipated CAGR of the global market for video intercom device during the forecast period?

The global market for video intercom device is anticipated to expand at a CAGR of 13.1% from 2017 to 2027.

2. Who are the prominent players of the global market for video intercom device?

Panasonic Corporation, Dahua Technologies Co. Ltd., Comelit Group S.P.A., among others are some of the significant players of the market.

Submersible Pump Market is expected to increase at 5.1% CAGR between 2021 and 2031

Globally, sales in the submersible pumps market are set to be valued at US$ 978.5 Mn in 2021, with a stable long-term projection. According to latest analysis by Future Market Insights (FMI), the submersible pumps market is poised to expand at a 5.1% CAGR over the forecast period 2021-2031.

In the last few years, water stress has been a leading concern across the world, which has in turn fuelled the demand for new water sources to fulfill the industrial as well domestic water need. Waste water treatment is becoming more popular around the world as means to relieve water scarcity, which is also driving the global submersible pumps markets.

Sales of submersible pumps were however dampened due to the outbreak of the COVID-19 pandemic. Disruptions in supply chain and suspended production activities in the oil and gas sector resulted in stagnated demand for submersible pumps.

Submersible pumps manufacturers are focusing on launching cost-effective and high efficiency products to improve sales. Governments of emerging economies in Africa and Asia, particularly in countries such as India, China and South Africa, are increasing efforts to improve access to drinking water in rural as well as urban areas, which in turn is benefiting the market.

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“Initiatives undertaken by governments for waste water management and encouraging the use of technologically-driven equipment in agricultural sector are expected to spur the demand for submersible pumps,” said Future Market Insights analyst.

Key Takeaways:

  • By product type, borewell submersible pumps are expected account for half of the global market in terms of revenue by the end of the forecast period.
  • By head type, above 100 m pumps are expected to gain popularity over the forecast period owing to increasing demand for water distribution application.
  • By Application, demand from municipal sector is anticipated to grow at 5.5% CAGR over the forecast period.
  • East Asia has the leading share in terms of volume. However, Europe is projected to account for highest value share. Industrialization in emerging economies of Asia will increase the demand for submersible pumps over the forecast period.
  • China and Japan will continue spearheading growth in East Asia.

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Competitive Landscape

Some of the key submersible pumps manufacturers include Kubota Corporation, Wacke Neuson Group,  Atlas Copco, ABKSB SE & Co. KGaA, Xylem Inc.,Ebara Corporation, Grundfos, Sulzer AG, The Weir Group PLC, Tsurumi Manufacturing Co., Ltd. Kriloskar Brothers Ltd., Flowserve Corporation.

The global submersible pumps market is fairly fragmented owing to the presence of several players across the globe. Moreover, leading share in the market is accounted by unorganized players which is estimated to be at around 50%-55%. Key market players are focusing on research and development to expand their product portfolio. Besides this, they are actively investing in mergers, acquisitions, and strategic collaborations to expand their global footprint.

More Insights into Submersible Pumps Market Report

The research report analyses the market demand trends of Submersible Pumps. The global market estimation and growth projection is based on factors like end use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of Submersible Pumps. As per Future Market Insights research scope, Submersible Pumps market has been studied and segmented on the basis of Product Type (Non Clog Submersible, Open Well Submersible and Bore Well Submersible) Head Type (Below 50 meter, 50 m- 100 m, Above 100 m), Application (Agricultural, Industrial and Municipal) and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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