Head-Mounted Display Market to Skyrocket with 25.9% CAGR, Reaching $151.29 Billion by 2033

The head-mounted display market is going to continue to advance at a CAGR of 25.9% between 2023 and 2033. The HMD market is projected to climb from US$ 15.12 billion in 2022 to US$ 151.29 billion by 2033.

The head-mounted display (HMD) is a pair of high-tech goggles. Many attachments, such as a controller, sensor, and camera, are integrated into the head-mounted device display. The head-mounted device is portable; HMD displays are widely used in defense services, the gaming industry for virtual reality, and medical professions. The market is likely to be driven by reduced microdisplay prices and rising demand for helmet-mounted displays.

The market is projected to be powered by influential manufacturers raising their investments. The HMD market is likely to expand as VR/AR head-mounted display technologies become more widely used. The market may soon have chances due to the rising demand for portable devices and lightweight head-mounted displays. The lack of consumer knowledge of head-mounted equipment is limiting demand growth.

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Profound Setbacks for Players in the Head-mounted Display Market

The head-mounted display market particularly helmet-mounted display systems is severely curtailed by design difficulties. The head-mounted system business is also being hindered by problems including helmet considerations, symbol stabilization, and acceptable field-of-view in relation to the resolution offered.

Lack of knowledge regarding its application and the potential of HMDs is a global danger that is getting worse, especially in underdeveloped and developing nations.

Analysis at the Regional Level

North America to lead the market over the forecast period. The presence of significant players such as Collins Aerospace, a United Technologies subsidiary, Google Inc., Kopin Corporation, Inc., and Microsoft Corporation contributed to this rise.

During the projected period, Asia Pacific is to account for a sizable proportion of the head-mounted display market. Its market expansion can be attributed to the acceptance of VR/AR head-mounted display technologies in emerging markets such as India and China. The growing need for a head-mounted device in the medical field for treatment and surgery is assisting in the market’s expansion.

The increasing usage of HMD technology in the educational sector in Europe is to increase the market. Throughout the projection period, the Rest of the World HMD market expands significantly. The rapid growth of HMD technology across South America, the Middle East, and Africa is promoting head-mounted display market expansion.

Key Takeaways

  • From 2023 to 2033, the eyewear segment in the product type category is to expand at a CAGR of 30.2% and reach US$ 41.36 billion by 2033.
  • Between 2023 and 2033, the integrated HMDsegment in the HMD type category may develop at a CAGR of 31.4%, and reach US$ 39.28 billion by 2033.
  • The United States market is to develop at a CAGR of 20.4%, reaching US$ 31.3 billion by 2033.
  • The German marketis to develop at a CAGR of 22.6%, reaching US$ 8.72 billion by 2033.
  • The United Kingdom marketis to develop at a CAGR of 32.7%, reaching US$ 10.14 billion by 2033.
  • China’s head-mounted display market is to develop at a CAGR of 27.9%, reaching US$ 23.77 billion by 2033.
  • India’s marketis to develop at a CAGR of 35.9%, reaching US$ 17.62 billion by 2033.
  • North America head-mounted display market to acquire a market share of 29.5% from 2023 to 2033.

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Competitive Analysis

Businesses in the head-mounted display market use a variety of expansion tactics to increase their position. Product launches, collaborations with major players, partnerships, acquisitions, and the strengthening of global and regional distribution networks are examples of these strategies.

Market Innovation for Head-Mounted Displays

  • Launch
  • Microsoft unveiled the Mesh cloud service in March 2021, allowing developers to create applications that let people share holograms, communicate with one another, draw doodles, and appear as virtual avatars. The company also worked on VR head-mounted displays and headsets, which immerse users in a computer-generated world while blocking out the physical world via AR headsets (HMD).
  • Google announced in February 2020 that the latest version of the Google Glass AR headset is now available for purchase. Google Glass Enterprise Edition-2 was released one year through select workplace partners. Google made it accessible for direct purchase due to high demand from developers and companies.
  • Agreement
  • Elbit Systems inked a Technical Cooperation Agreement (TCA) for a helmet-mounted display system in February 2021. Under the terms of this agreement, BEL may produce and integrate the Helmet Mounted Display system for the Indian Navy and other rotary wing platforms of the Armed Forces.

Key Segments

Product Type:

  • Head Mounted
  • Eyewear

HMD Type:

  • Discrete HMD
  • Integrated HMD
  • Slide-on HMD

Application:

  • Gaming, Media,& Entertainment
  • Aerospace, and Defense
  • Healthcare and Medical Devices
  • Engineering & Industry Applications
  • Education
  • Others

Region:

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

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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.

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T: +1-845-579-5705
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Access Control Market Projected to Grow at a 12.4% CAGR, Reaching $61.31 Billion by 2033

Between 2023 and 2033, the access control market is projected to grow at a consistent compound annual growth rate of 12.4%. Although the market is expected to be valued at US$ 19.05 billion in 2023, it is predicted to surpass a market share of US$ 61.31 billion by 2033.

The latter objective is primarily dependent on ensuring the safety of workers, managers of the facility, and visitors. Demand will be driven by the increasing need for integrated access control systems to establish safe environments throughout industrial regions that combine several technologies with backup plans for the protection of people and property.

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  • Sophisticated cyberattacks, increased digital traffic, and the limitation of unwanted visitors are a few key factors that garner market growth. Furthermore, it also ensures a safe work environment.
  • A wide array of applications such as healthcare, manufacturing, BFSI, and financial services are expanding the market growth. The transition also helps in getting rid of traditional keys.
  • The advent of biometric scanners and security checks also functioned through access control systems, advancing the safety layer while increasing productivity.
  • The integration of machine learning, artificial intelligence, and cloud technologies across the verticals is fueling the demand for access control systems. Moreover, integrated systems with high-end security layers are gaining traction in the access control market.

Key Points

  1. The United States market leads the access control market in terms of sales volume in North America. The market thrives at a CAGR of 7.5% during the forecast period. The market growth is attributed to the expansion of corporate infrastructure. The regional market is anticipated to hold a sales volume of 4,328.4 in 2023.
  2. India access control market is another lucrative market with a CAGR of 9.8% between 2023 and 2033. The regional growth is attributed to high digitization in varied sectors like healthcare and financial services. The market is expected to hold a sales volume of 890.4 in 2023.
  3. The hardware segment is likely to thrive in the component type category as it thrives on a CAGR of 13.3% between 2023 and 2033. The growth is attributed to high consumption and easy installation. It holds a sales volume of 12,187.4 units in 2023 though, the software segment thrives on a CAGR of 11.3% between 2023 and 2033.
  4. The iris recognition access control segment is likely to thrive in the system type category as it thrives on a CAGR of 16% between 2023 and 2033. The growth is attributed to customized privacy options. It holds a sales volume of 2,690.5 units in 2023.

Competitive Landscape:

The key vendors work on integrating smart technologies like artificial intelligence, machine learning, and enhanced security. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Honeywell International Inc., NEC Corporation, Johnson Controls, Bosch Security and Safety Systems, Assa Abloy AB, Thales Group, STANLEY Convergent Security Solutions, Inc., 3M, Secom Co., Ltd, Dormakaba Holding AG, HID Global, Matrix Comsec Pvt. Ltd., Paxton Access Ltd.

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Recent Market Developments:

  • Johnson Controls introduced its electronic access control that comes with a centralized and automated security system for managing employee and visitor access to the facilities offered. The brand has also launched its hosted access control.
  • In 2022, NEC Corporation launched its biometric authentication with iris recognition technology. It has ranked first in the NIST accuracy testing.

Key Segments

By Component:

  • Hardware
    • Fingerprint Scanners
    • Facial Recognition Devices
    • Iris Scanners
    • Smart Cards
    • Others
  • Software
    • Integrated Access Control Software
    • Standalone Software/Middleware
    • Facial Recognition Software
    • Iris Recognition Software
    • Others
  • Services
    • Professional Services
      • System Integration & Installation
      • Security Consulting
      • Support & Maintenance
    • Managed Services

By System Type:

  • Fingerprint Access Control Systems
  • Face Recognition Access Control Systems
  • Iris Recognition Access Control Systems
  • Card-Based Access Control Systems
  • Others

By Industry:

  • IT & Telecom
  • BFSI
  • Military & Defense
  • Manufacturing
  • Healthcare
  • Transportation & Logistics
  • Government
  • Education
  • Others

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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.

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Lightweight and Bioplastic Innovations Propel Mobile Phone Accessories Packaging Market Towards US$5.1 Billion Valuation by 2034

Mobile Phone Accessories Packaging Marke
Mobile Phone Accessories Packaging Market

Future Market Insights (FMI) has released an updated report on the mobile phone accessories packaging market, projecting significant growth opportunities and strategic insights for the decade ahead. The market is expected to reach a valuation of US$ 5.1 billion by 2034, reflecting a steady CAGR of 3.2%.

Core Concepts in the Mobile Phone Accessories Packaging Industry

  • Expected Worth in 2024: The market for mobile phone accessories packaging is expected to be valued at US$ 3.6 billion in 2024.
  • Market Potential: It is projected to expand at a CAGR of 3.2% between 2024 and 2034.
  • Dominant Packaging Type: The folding cartons segment is projected to dominate the industry.
  • Anticipated Value in 2034: By 2034, the market value of mobile phone accessories packaging is expected to reach US$ 5.1 billion.
  • Top Market (CAGR): India is anticipated to be a top-performing market, with a CAGR of 6.5%.

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Key Market Insights:

  1. Demand for Simplicity and Clarity: Consumers’ preferences are driving mobile phone accessories packaging producers towards simpler labels and clear product information. This trend reinforces continuous demand for packaging solutions that enhance product appeal and consumer understanding.
  2. Adoption of Lightweight Materials: Manufacturers in the smartphone industry are increasingly opting for lightweight packaging solutions. Mono-material folding cartons and clear-view plastic boxes are gaining popularity due to their ability to combine lightweight design with attractive graphics and printing capabilities. These solutions not only meet aesthetic demands but also offer cost-efficiency and higher profitability margins.
  3. Rising Interest in Bio-plastics: There is a growing demand for bio-based plastics, such as PLA (Polylactic Acid) and PHA (Polyhydroxyalkanoates), in the packaging industry. These materials are seen as sustainable alternatives to traditional petroleum-based plastics, aligning with global initiatives towards environmental sustainability. Leading companies are investing in research to leverage bio-plastics, aiming to gain a competitive edge and meet evolving consumer preferences.

Regional Insights

  1. United States: Electronics manufacturing is a significant economic driver in the United States, with innovation continuing to push the consumer electronics market. The propensity for spending on new technology uplifts customer expectations, presenting a promising opportunity for mobile phone accessories packaging manufacturers in the U.S. market.
  2. Germany: The German market caters primarily to a tech-savvy population and a robust mobile device industry. Consumers in Germany prioritize quality and durability, leading to packaging solutions that emphasize protection and presentation. The market reflects sleek and minimalist aesthetics, aligning with the country’s preference for sophisticated and modern packaging designs.

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Future Outlook

The mobile phone accessories packaging market is poised for steady growth over the next decade, driven by the demand for lightweight and sustainable packaging solutions. As manufacturers and consumers alike prioritize eco-friendly and cost-efficient options, the market is expected to continue evolving to meet these needs.

Key Takeaways

  • High demand for clear view boxes being witnessed in all major markets
  • PET to remain highly sought-after material for mobile phone accessories packaging manufacturers
  • Asia Pacific ex. Japan is expected to remain in the leading position with nearly 50% of the market share
  • US will be the second largest market, holding over 83% market share in this region
  • Germany to remain the epicentre in Western Europe, accounting for significant packaging sales and exports
  • The United Kingdom, Canada, China, Japan, France, and a few other countries to remain lucrative throughout the forecast period

Key Companies Profiled              

  • Sonoco Products Company
  • Dordan Manufacturing Co.
  • Hip Lik Packaging Products Corp India Private Limited
  • Panic Plastics, Inc.
  • Display Pack, Inc
  • Mister Blister Ltd.
  • Dongguan Zhongyin Paper Co., Ltd.
  • Jiajiexing Group Company Limited
  • Universal Protective Packaging Inc.
  • All About Packaging Inc.
  • Transparent Packaging Inc.

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Key Segments Covered in Market

Packaging Type:

  • Folding Cartons
  • Clear View Boxes
  • Pouches & Bags
  • Clamshells
  • Blister Packs
  • Trays

Material:

  • Plastic
    • PE
    • PET
    • PVC
    • Others (Polystyrene)
  • Paper & Paperboard

Application:

  • Headsets
  • Chargers
  • Protective Covers
  • Screen Protectors
  • Power Banks
  • Batteries
  • Portable Speakers
  • Memory Cards
  • Others (VR, Cables)

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific ex. Japan (APEJ)
  • Middle East and Africa (MEA)
  • Japan

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.

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Retail E-commerce Packaging Market to Expand 5% Annually, Reaching US$28.7 Billion by 2033, Driven by Logistics Optimization and D2C Trends

Retail E-Commerce Packaging Market
Retail E-Commerce Packaging Market

The global retail e-commerce packaging market is poised for substantial growth, projected to reach US$ 28.7 billion by 2033 from US$ 17.6 billion in 2023, with a steady CAGR of 5.0%. This growth is driven by the proliferation of direct-to-consumer (D2C) brands revolutionizing the retail landscape and advancements in packaging technology.

Core Concepts in the Retail E-Commerce Packaging Industry

  • Growth Potential: The retail e-commerce packaging market is expected to expand at a CAGR of 5.0% from 2023 to 2033.
  • Market Size (2023): The market is valued at US$ 17.6 billion in 2023.
  • Top Manufacturers: WestRock Company, Pregis Corporation, and Smurfit Kappa Group are among the top manufacturers in the market.
  • Projected Size (2033): The market is estimated to reach US$ 28.7 billion by 2033.
  • Historical Performance: From 2018 to 2022, the market held a CAGR of 2.6%.

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Key Market Dynamics:

  1. Direct-to-Consumer Revolution: The surge in direct-to-consumer brands is reshaping the retail industry by offering products directly to consumers via online channels. These brands prioritize packaging as a crucial element of the customer experience, investing in high-quality, aesthetically appealing packaging that aligns with their brand identity. This emphasis on packaging as a marketing tool enhances brand loyalty and drives sales.
  2. Consumer Shift to Online Shopping: Increasing online shopping penetration has led to a significant rise in e-commerce sales, prompting retailers to adopt efficient and reliable packaging solutions. The growing volume of online orders necessitates packaging that ensures product protection during transit, reducing the risk of damage and enhancing customer satisfaction.
  3. Technological Advancements in Packaging: Innovations in packaging technology have introduced lightweight, eco-friendly materials with enhanced barrier properties. Sustainable packaging solutions, including bio-based plastics and recyclable materials, align with consumer preferences for environmentally conscious practices. Advancements in digital printing and customization capabilities allow retailers to create visually appealing packaging that enhances brand visibility and customer engagement.

Market Segmentation

  1. Protective Packaging: Protective packaging is the most preferred type of retail e-commerce packaging among end-users, followed by boxes. Together, these segments are expected to hold approximately 5/8th of the market share by 2033, creating an incremental opportunity of USD 3.8 billion during the forecast period. The protective packaging segment is anticipated to grow at a CAGR of 4.9% during this period.
  2. Fashion Merchandise: The fashion segment generates significant demand for retail e-commerce packaging, holding around 30% of the market value share by the end of 2033. This segment is projected to expand 1.3 times its current market value, growing at a CAGR of 4.8% during the forecast period.

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Market Drivers:

  1. Logistics and Supply Chain Optimization: The retail e-commerce packaging market is bolstered by logistics and supply chain optimization efforts, aimed at streamlining operations and reducing costs associated with packaging, storage, and transportation.
  2. Advantages of the Direct-to-Consumer Model: The direct-to-consumer model offers several advantages, including increased control over the customer experience, access to valuable customer data, and the ability to establish a direct relationship with consumers, driving the demand for retail e-commerce packaging solutions.

Increased Online Shopping Fuels Demand:

The exponential growth of online shopping is significantly impacting the retail e-commerce packaging market. The rising volume of online orders necessitates efficient and reliable packaging solutions that protect products throughout transit. Retailers are focusing on streamlining the packaging process and optimizing materials to improve operational efficiency and meet customer demand for fast fulfillment.

Regional Growth Dynamics:

  • The United States:  Leading the global market, the US is expected to generate an incremental opportunity of US$ 645 million by 2033, driven by its booming e-commerce sector.
  • Mexico:  With a projected 1.4x market value increase by 2033, Mexico is poised for significant growth due to its rapidly expanding e-commerce sector.

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Key Segments Profiled In the Global Retail E-Commerce Packaging Industry

By Product Type:

  • Protective Packaging
  • Boxes
  • Mailers
  • Labels
  • Tape
  • Others (Shrink & Stretch Films, Bags & Pouches, etc.)

By Merchandise Type:

  • Consumer Electronics
  • Fashion (Clothing, footwear, etc.)
  • Home Furnishings
  • Health, Personal Care & Beauty
  • Recreation Goods
  • Multimedia & Software
  • Food & Beverages
  • Homecare
  • Others (Books, Automotive Products, Gifts)

By Market Type:

  • Third Party Fulfillment & Logistics Companies
  • Brick & Mortar Retailers
  • Specialty Retailers
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • 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 Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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FIDO Authentication Industry: Rapid Growth Projected to Reach $12 Billion by 2033

The FIDO Authentication Market has witnessed remarkable growth, with the total revenue reaching US$ 1,238.6 million in 2022. This impressive growth trajectory is projected to continue, with the market expected to surge to US$ 12,059.7 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 23.1% from 2023 to 2033.

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Drivers and Opportunities:

The market’s expansion is driven by several factors, including the increasing adoption of FIDO authentication solutions across various industries. The rising concerns over cybersecurity threats have prompted organizations to seek robust authentication methods, further fueling market growth. Additionally, the growing popularity of biometric authentication methods and the proliferation of mobile devices are providing lucrative opportunities for market players to innovate and expand their offerings.

Competitive Landscape – Regional Trends:

The FIDO Authentication Market is highly competitive, with key players constantly innovating to maintain their market position. Regional trends indicate that North America dominates the market, owing to a high concentration of tech-savvy enterprises and stringent security regulations. Europe follows closely behind, driven by increasing awareness of data security. Meanwhile, the Asia-Pacific region presents significant growth potential due to the rapid digitalization of economies and the need for robust authentication solutions.

Restraints:

Despite its rapid growth, the market faces certain limitations, including concerns related to user privacy and data protection. Striking a balance between stringent security measures and user convenience remains a challenge for market players. Moreover, the high initial costs associated with implementing FIDO authentication solutions may hinder adoption among smaller enterprises.

Region-wise Insights – Category-wise Insights:

Regionally, North America leads the FIDO Authentication Market, with a substantial share of the global market. Within categories, biometric authentication solutions are gaining prominence due to their accuracy and user-friendliness. Moreover, the healthcare and financial sectors are witnessing substantial adoption of FIDO authentication, driven by the need for secure access to sensitive data.

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Competitive Landscape

As organizations around the world are challenged in controlling dynamic and hybrid IT environment, the need for secure mobile or online applications without compromising user convenience is increasing continuously.

Owing to this, most of the leading players in the FIDO authentication technology are coming with advanced and innovative solutions that meets the ever-changing demand from organizations for advanced security and privacy concerns.

  • In January 2021, Aware, Inc. announced the launch of AwareABIS, an automated biometric identification system (ABIS) used for large-scale biometric identification and deduplication. Designed to serve among 1-30 million identities or more, AwareABIS supports fingerprint, face and iris modalities, and features a modular architecture that helps security teams configure and optimize the system for civil or criminal applications.

FIDO Authentication Outlook by Category

By Solution:

  • FIDO U2F Authentication Devices
  • FIDO Authentication SDKs
    • FIDO Client SDK
    • FIDO Server SDK
  • Services
    • Technology Consulting
    • Integration & Deployment
    • FIDO Certification Services
    • Support Services

By Application:

  • Payment Processing
  • PKI/Credential Management
  • Document Signing
  • User Authentication
  • Others

By Industry:

  • BFSI
  • Healthcare & Life Sciences
  • IT & Telecom
  • Retail & CPG
  • Government & Defense
  • Energy & Utilities
  • Others

By Region:

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

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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
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Behavioral Biometrics Market to Surge to $13 Billion by 2033 with a 23.8% CAGR, Reports Future Market Insights

The behavioural biometrics market is projected to generate revenues of US$ 1,254.7 million in 2022 and US$ 1,533.2 million in 2023, according to Future Industry Insights (FMI). With a CAGR of 23.8% from 2023 to 2033, the worldwide market is anticipated to be worth US$ 13,001.4 million by that year.

As the behavioural biometrics business expands, the leaders in the sector will face more competition. In 2022, the top five suppliers will hold a 55.0% share of the market, according to FMI.

Behavioural biometrics solutions have opportunities to grow as a result of ongoing development and the implementation of new technologies/software, including advanced behavioural biometrics innovations, human behavioural patterns, and machine learning/deep learning for identity identification and validation, preventing fraud, and multiple-factor authorization applications.

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Behavioral?biometrics are being used in a variety of businesses with a digital presence and are positioned to play an important role in increasing digital trust and safety. For financial institutions, digital banking is one of the most successful platforms for driving growth, attracting new clients, and increasing income.

Behavioral?biometrics has a number of applications in the banking industry, including account opening safeguards, account takeover security, and social engineering fraud detection, among others. The dependability of behavioral biometrics and?biometrics technologies will drive their use in the BFSI industry.

Key Takeaways

  • South Asia is expected to develop rapidly in the market, with a CAGR of over 35% from 2023 to 2033.
  • According to Future Market Insight, the top 15 firms presently account for about 55%-60% of the market share in 2023.
  • Demand for banking, financial services, and insurance (BFSI) is expected to rise at a 28% CAGR throughout the projection period.
  • The market increased at a CAGR of 21.7% over the previous five years
  • According to the analysis, the United States will account for roughly 18.5% of the North American market by 2033.

“The expansion of real-time transaction and mobile banking systems in the country has increased fraud,?fueling?the demand for?behavioral?biometrics. Furthermore, financial solution suppliers in the South Asia & Pacific area are working on providing their clients with safe verification solutions based on sophisticated?behavioral?biometrics technology,” says the FMI analyst. 

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Competitive Landscape

  • BioCatch, a worldwide leader in?behavioral?biometric intelligence and sophisticated fraud prevention technologies, opened its Australian headquarters on February 8, 2023. Furthermore, the corporation reinforces its worldwide leadership position by establishing operations throughout Asia-Pacific, with branches in Australia and Singapore.
  • According to a report released in?May 2023, Amsterdam-based ThreatFabric obtained €11.5 million (roughly US$12.55 million) in an initial fundraising round, with aspirations to broaden its?behavioral?biometrics and safeguard?against fraud capabilities.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Behavioral Biometrics market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights by Solution (Software, Services), Application (Identity Verification & Validation, Fraud Prevention, Multi-factor Authentication), Enterprise Size (SMEs, Large enterprises), Industry (BFSI, Retail and eCommerce, Healthcare, IT & Telecom, Government and Defense) & Region.

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Behavioral Biometrics Market Outlook by Category

By Solution:

  • Behavioral Biometrics Software
    • Cloud-Based
    • On-Premise
  • Services
    • Consulting Services
    • Implementation Services
    • Support & Maintenance
    • Managed Services

By Application:

  • Identity Verification & Validation
  • Fraud Prevention
  • Multi-factor Authentication
  • Others

By Enterprise Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • Banking, Financial Services, and Insurance (BFSI)
  • Retail and E-commerce
  • Healthcare
  • IT & Telecom
  • Government and Defense
  • Others

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.

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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3D Printing Materials Market Projected to Surge to $6.6 Billion by 2033

The market for 3D printing materials is anticipated to reach an estimated value of US$ 6.6 billion by 2033, up from US$ 1.8 billion in 2023, and grow at a compound annual growth rate of 14.2% between 2023 and 2033.

During the projection period, it is expected that the market for 3D printing materials will grow at an astounding 14.2% CAGR. Worldwide sales of 3D printers are being driven by the quick uptake of technologically superior production equipment across numerous industries, which is anticipated to expand the market in the upcoming years.

Raw materials used for 3D printing include plastics, ABS, PLA, metals & powders, carbon fibers, and resins. The market is being supported by the growing trend of using 3D printers to produce a range of small and large products.

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Additionally, the market is anticipated to develop as 3D printing is increasingly used in the building and construction industry. Additionally, it is projected that the rise of the automotive, aerospace, electronics, and medical industries will continue to be a major growth driver of the global market for 3D printing materials.

North America is anticipated to continue to be a lucrative region in the global market for 3D printing materials, according to FMI. The rapid commercialization of cutting-edge technology like 3D printing across a variety of businesses in the area is responsible for the growth.

Key Takeaways:

  • By material type, sales in the metal segment are forecast to grow at a 14.9% CAGR over the assessment period.
  • Based on form, demand for powder 3D printing materials is projected to increase at a 13.5% CAGR through 2031.
  • In terms of applications, sales in the automotive sector are forecast to gain traction at a 13.6% CAGR over the forecast period.
  • The U.S. will emerge as a lucrative pocket in the North American 3D printing materials market.
  • Sales in the China 3D printing materials market are projected to increase at a 15.2% CAGR through 2031.

Competition Landscape

Key market participants in the global 3D printing materials market elaborated in the report include Covestro AG, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc.

Key market participants are focusing on the development of innovative 3D printing products to improve their product portfolios. Besides this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.

For instance:

  • In April 2021, Sandvik and its subsidiary BEAMIT Group announced a new capacity for additive manufacturing components in super-duplex stainless steel, an alloy that combines mechanical strength with extremely high corrosion resistance.

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3D printing materials Market By Category

By Material Type:

  • Plastics
  • Metals
  • Ceramics
  • Others

By Form:

  • Filament
  • Powder
  • Liquid

By Application:

  • Electronics & Consumers
  • Automotive
  • Medical
  • Industrial
  • Education
  • Aerospace
  • Others

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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
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Website: https://www.futuremarketinsights.com
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Data Center Power Management Market Poised for Significant Growth: Projected to Reach $39.9 Billion by 2033

The global data center power management market is anticipated to expand its roots at a CAGR of 7% with a valuation of US$ 20,260.5 million in 2023. The market is slated to reach a estimation of US$ 39,978.8 million by 2033.

It can cost hundreds of thousands or even millions of dollars when a data center is down. The Uptime Institute estimates that nearly 43% of data center failures are caused due to inadequate power supplies. There is an increasing need for more inventive and efficient techniques to monitor power quality throughout the entire power chain of a data center.  The rising power needs, rising power costs, and international measures to reduce carbon footprints are pivotal for data center power management market expansion. A new generation of dependable, intelligent rack power distribution, monitoring, and control solutions is thus more important than ever.

Data center operators use automation and DCIM software to assist clients with restricted access to their facilities and lessen the foot traffic of their staff. A lot of data center owners now control their facilities remotely as well. This led to a strong need for software to manage the infrastructure of data centers. Furthermore, power management companies developed advanced power distribution units that can operate remotely to improve efficiency and reduce the power usage effectiveness (PUE) ratio.

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Gulf nations are digitally modernizing their public and private sectors. The governments of these nations are undertaking several projects to improve the Middle Eastern cloud environment.  Additionally, significant investments are being made in renewable energy sources that generate electricity to power data centers. In Europe and the United States, there has been a rapid increase in the use of sustainable energy sources to power data centers.  In the upcoming years, these initiatives are likely to support market expansion.

Key Takeaways from Data Center Power Management Market:

  • In 2018, the global data center power management market size stood at US$ 15,844.6 million.
  • Between 2018 and 2022, the market expanded at a CAGR of 4.9%.
  • In 2022, the market size stood at US$ 19,222.5 million.
  • The modular data centers segment accounted for 24.9% market share in 2022.
  • The tier-4 segment captured a 24.9% market share in 2022.
  • China accounted for nearly 5.2% of the global market share in 2022.
  • The United Kingdom data center power management market garnered a 9.2% market share in 2022.

Recent Developments Observed by FMI:

  • A multi-hybrid cloud and edge management platform was introduced by Cognizant in April 2023. “Skygrade” has been introduced to help businesses achieve greater business values through sustainability, rapidity, efficiency, and ease of use.
  • In September 2022, Honeywell launched a new suite of solutions. Honeywell Data Center Suite was designed to help optimize data center productivity and uptime.
  • Eaton completed the acquisition of Tripp Lite in March 2021 to grow its power business in the United States. The acquisition contributed to the growth of edge computing, the expansion of the single-phase UPS market, the IT product portfolio, and better services for the company’s data center clients.

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Data Center Power Management Market Segmentation

By Component:

  • Hardware
  • DCIM (Data Center Infrastructure Management) Software
  • Services

By Data Center Type:

  • Modular Data Centers
  • Colocation Data Centers
  • Cloud Data Centers
  • Edge Data Centers
  • Hyperscale Data Centers
  • Micro Mobile Data Centers

By Data Center Tier:

  • Tier-1 Data Centers
  • Tier-2 Data Centers
  • Tier-3 Data Centers
  • Tier-4 Data Centers

By Installation Type:

  • New Installation
  • Retrofit/Upgrade

By End-user:

  • Cloud Providers
  • Colocation Providers
  • Enterprise Data Centers
  • Hyperscale Data Centers

By Industry:

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

By Region:

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

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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
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Power Management System Market to Grow at 6.6% CAGR, Reaching $6.88 Billion by 2033

Sales of power management systems market are expected to amount to around US$ 3,618.7 million globally in 2023. Over the next ten years, the power management systems market is expected to expand at a 6.6% annual pace. The entire market worth is anticipated to reach US$ 6,880.9 million by the end of 2033.

The market for power management systems is expanding due to the accelerating pace of industrialization and the rising need for energy conservation. The deployment of smart grid technologies and the growth in the usage of renewable energy sources will also drive demand.

The growing usage of IoT and AI technologies is contributing to the growth of the power management systems industry.

Governments are implementing policies and regulations to promote the adoption of energy-efficient technologies and to reduce carbon emissions. This will continue to fuel power management system sales.Growing number of industries and commercial projects that require efficient power management systems to ensure uninterrupted power supply will elevate demand.

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Power management systems are widely used in utilities, followed by data centers. The utilities segment is one of the key users of power management systems. It is likely to hold more than one fourth of the market value share.

Demand for power management systems in data centers will rise at a healthy pace owing to rise in cloud computing and increasing demand for data storage and processing.

Key Takeaways from Power Management System Market Study

  • The worldwide market for power management systems will reach a valuation of US$ 6,880.9 million by 2033.
  • Global sales of power management systems are likely to soar at a CAGR of 6.6% through 2033.
  • By module, power monitoring and control segment is set to hold a dominant share of around 50.2% in 2023.
  • Based on end use, the utilities segment will dominate the market by creating an incremental opportunity of nearly US$ 790.3 million from 2023 to 2033.
  • Power management system demand across India will increase at 9.0% CAGR through 2033.
  • The United States power management system industry is forecast to expand at 5.5% CAGR.

The ever-expanding industries such as marine, chemical, and so on, are expected to boost the power management system market over the forecast period. This is true for both, developed as well as developing countries. Research suggests that manufacturers will find significant opportunity in shifting their production priorities towards custom-built products to meet changing industrial demands.” – says a Future Market Insights (FMI) analyst.

Competitive Landscape

The power management system market is moderately consolidated with few global players acquiring around 38% to 42% of the market shares. To improve their market presence, these players are making investments in new technological advancements and expanding their distribution networks.

Few of the leading manufacturers and suppliers of power management systems include ABB Ltd., Schneider Electric, Siemens AG, Eaton Corporation PLC, Rockwell Automation, Mitsubishi Electric, General Electric, Honeywell Corporation, and Fuji Electric, among others.

A few recent developments are:

  • In July 2021, Mitsubishi Electric announced that it has developed a new power module that is designed to offer improved efficiency and reliability for electric and hybrid vehicles.
  • In June 2021, Delta Electronics announced that it has launched a new range of modular UPS systems that are designed to offer improved energy efficiency and reliability.

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The research report analyzes the demand for power management systems. The global power management system market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background.

As per Future Market Insights (FMI), the market has been analyzed based on type, module, end use, and region. The report provides qualitative and quantitative information on various players in this market. It also tracks the market by both supply-side and demand factors.

Global Power Management System Market by Category

By Type:

  • Software
  • Hardware
  • Services

By Module:

  • Power Monitoring and Control
  • Load Shedding and Management
  • Power Simulator
  • Generator Control
  • Energy Cost Accounting
  • Switching and Safety Management
  • Others

By End Use:

  • Marine
  • Petroleum Refinery
  • Data Centers
  • Chemical Industry
  • Utilities
  • Paper and Pulp
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • Central Asia
  • Russia and Belarus
  • Balkan and Baltic Countries
  • South Asia and Pacific
  • Middle East and Africa

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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
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Global Laparoscopic Device Market to Reach USD 20.5 Billion by 2034 at a 4.2% of CAGR

Laparoscopic Devices Market
Global Laparoscopic Devices Market

The global laparoscopic device market is set for substantial growth, with a projected valuation of USD 13.59 billion in 2024. According to recent forecasts, the market is expected to expand at a moderate Compound Annual Growth Rate (CAGR) of 4.2% over the next decade, surpassing USD 20.5 billion by 2034.

The growth of the laparoscopic device market is largely driven by the increasing prevalence of obesity across various age groups, which is fueling the demand for minimally invasive surgical procedures. Additionally, companies in the industry are actively employing various strategies to address supply chain disruptions and meet the rising demand for these devices.

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The market for laparoscopic devices is anticipated to expand at a 5.8% compound annual growth rate (CAGR) from US$ 12.3 billion in 2022 to US$ 18.4 billion by 2029.

Over the next ten years, there is expected to be a significant growth in the laparoscopic devices industry. due to the quick rise in the demand for minimally invasive surgical treatments as well as the growing potential for use in colorectal and bariatric surgery.

According to the report, the laparoscopic devices market is anticipated to grow over the coming years due to a combination of increased foreign direct investment (FDI) in developing countries and marketing and promotional initiatives.

Key Takeaways :

Steady demand growth is observed for bariatric surgery, in line with the expanding obese population coupled with wide-scale adoption rate of minimally invasive techniques. Sales of laparoscopic devices for bariatric surgery will surpassing that for colorectal surgery towards the end of projection period.

Sales of laparoscopic devices will be higher in North American countries. The availability of skilled surgeons and several advantages of minimally invasive surgery over open surgery are few factors driving the market of laparoscopy devices.

The key players in the laparoscopic devices market are focusing on technologically advanced surgical systems with improved dexterity, ergonomics, and visual enhancements that provide advantages to surgeons and minimize the risk for patients while undergoing laparoscopic procedures.

Increasing consumer base along with modern amenities in the healthcare sector is expected to drive sales of laparoscopic devices in developing regions.

Rising private and foreign investments in the laparoscopic devices market and adoption of subscription commerce marketing model by market players are anticipated to shape the overall laparoscopic devices market.

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Key Companies Profiled :

Olympus Corporation

Braun Melsungen AG

Intuitive Surgical Inc.

Medtronic plc.

Stryker Corporation

Smith & Nephew Plc

CareFusion Corporation

Ethicon US, LLC

KARL STORZ GmbH & Co. KG

Richard Wolf GmbH

Endocontrol SA

Tekno-Medical Optik Surgery GmbH

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Laparoscopic devices market by Category :

By Product:

  • Direct Energy System Devices
  • Trocars/Access Device
  • Internal Closure Devices
  • Laparoscopes
  • Hand Access Instruments
  • Insufflation Devices
  • Robotic Assisted Surgical System

By Therapeutic Application:

  • Bariatric Surgery
  • Colorectal Surgery
  • General Surgery
  • Gynecological Surgery
  • Urological Surgery

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • 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 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
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