Global Electric Resistance Welded (ERW) Pipes and Tubes Market Expected to Surge Past USD 119.4 Million by 2033, Growing at 5.2% CAGR

The electric resistance welded (ERW) pipes and tubes market is poised for substantial growth, with a projected valuation of USD 71.9 million by 2023. This positive trajectory is anticipated to continue, fueled by an impressive Compound Annual Growth Rate (CAGR) of 5.2% from 2023 to 2033. Consequently, the market is on track to attain a formidable valuation of USD 119.4 million by 2033.

A primary driver behind this surge in the ERW pipes and tubes market is the global upswing in infrastructural development initiatives. Ambitious projects are unfolding on a global scale, spanning from towering skyscrapers to extensive oil and gas pipelines. These ventures are generating heightened demand for ERW pipes, given their indispensable role in various critical sectors and applications.

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The post-pandemic resurgence in the electric resistance welded (ERW) line pipes segment has generated a notable upswing in the pipes and tubes market. This upturn has spurred leading entities in the oil and gas, as well as power industries, to formulate strategic initiatives for the deployment of cross-country line pipe infrastructure. Additionally, the recovery of oil and gas prices, coupled with the reinvigoration of concise budget allocations, is expected to create favorable growth prospects for the global Line pipes sector.

The heightened level of investment activities in key sectors such as power generation and automotive underscores the increasing commitment of governments worldwide to bolster infrastructural development projects, including those related to water and sewage systems. These investments are poised to serve as catalysts for market expansion and offer promising avenues for growth in the near future.

North America: A Lucrative Market with U.S. at the Helm

Market Dominance in North America

The electric resistance welded (ERW) pipes and tubes market in North America commands a substantial 51.6% market share, with the United States alone estimated to reach a market value of USD 21.4 million during the forecast period. Currently, the United States holds a 5.2% share in the global market, driven by robust economic growth in the region and increased activity across critical sectors such as oil, power, and refineries.

U.S. Growth Dynamics

The growth trajectory in the United States is primarily attributed to a resurgence in expenditure, particularly in the realm of energy infrastructure. The nation’s focused investments are poised to meet the escalating energy demand and ensure energy security.

Asia Pacific: Dominating the ERW Pipes and Tubes Market

Leading the Global Market

Asia Pacific emerges as the frontrunner in the global ERW pipes and tubes market, commanding a substantial revenue share of over 44%. Notably, China is projected to further bolster its position with a noteworthy CAGR of 5.1% from 2023 to 2033, translating to a substantial market value of USD 27.7 million.

Japan’s Impact

Japan also plays a significant role in this market, contributing notably with a CAGR of 4.3%, resulting in a market worth of USD 16.2 million. The region’s consumers are driving this growth, reflecting a robust demand for ERW pipe products.

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Key Players Profiled:

  • Nippon Steel & Sumitomo Metal Corporation
  • EVRAZ North America
  • Northwest Pipe Company
  • TMK IPSCO, Welspun
  • Wheatland Tube Company
  • ChelPipe
  • Techint Group
  • JFE Steel Corporation
  • Arabian Pipes Company
  • ArcelorMittal SA

Key Segments Covered:

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa

By Type:

  • Pressure Tubing
  • Standard Pipes

By Application:

  • Oil and Gas
  • Chemical, Mining

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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 Welding Fume Extraction Equipment Market Revenue Expected to Surpass USD 7.4 Billion by 2033, Growing Steadily at 5.5% CAGR

The welding fume extraction equipment market is poised for significant expansion, with a projected valuation of approximately USD 4.3 billion in 2023, driven by a robust Compound Annual Growth Rate (CAGR) of 5.5% from 2023 to 2033. As the forecast period concludes, global sales of welding fume extraction equipment are expected to reach a substantial USD 7.4 billion.

The increased demand for welding fume extraction equipment stems from its indispensable role across a diverse spectrum of industries. From aerospace and automotive to construction and manufacturing, there is a growing need for effective fume extraction solutions. These dynamic and ever-evolving industries are expanding their horizons, driving the demand for advanced and efficient equipment that not only ensures the health and safety of workers but also aligns with stringent environmental regulations.

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Key Takeaways:

  • By the end of 2033, the market in the United States is expected to progress at an annual growth rate of 5.4%. This regional market could contribute to a revenue share of USD 1.4 billion by following this higher CAGR than other countries by 2033.
  • In terms of worldwide revenue, China alone is poised to account for a sizeable market share of 20% by the end of 2033. This regional market is projected to capture a 5.3% CAGR until 2033, concluding at USD 1.6 billion.
  • In terms of units, the mobile welding fume extraction equipment segment is poised to advance at a CAGR of 5.4% over the next ten years. Its sales remain higher as it is excellent for areas where there may be a need for more space due to its small size.
  • Arc welding is widely used in many applications, increasing its sizeable revenue share in the overall market among all application segments. During the forecast years, the revenue share obtained from sales of fume extraction equipment for arc welding is poised to grow at 5.2%.

Competitive Landscape:

Parker Hannifin, Fumex, AAF International, Air Quality Engineering, and Lasermet are some leading players in the global welding fume extraction equipment market. To tap into expanding markets and broaden their consumer base, leading welding fume extraction equipment manufacturers are expanding their operations into new geographic areas.

While meeting the unique needs of distinct regions requires setting up regional production facilities, distribution networks, and sales and service centers. So, the overall market is anticipated by FMI to get diversified further in the coming days with the emergence of new market players.

Recent Market Developments:

KEMPER Company released the WallMaster filtration system in August 2020 to aid metalworking businesses in optimizing employee safety during welding processes. It is a fixed filter machine that can accommodate two workstations simultaneously and is made especially for filtering medium amounts of welding fumes.

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Key Companies Profiled in the Report:

  • Parker Hannifin Corporation
  • Fumex, Inc.
  • AAF International (American Air Filter)
  • Air Quality Engineering
  • Lasermet Ltd.

Key Segmentation Analysis:

By Product Type:

  • Mobile Units
  • Stationary Units
  • Large Centralized Systems

By Application:

  • Arc Welding
  • Resistance Welding
  • Laser Beam Welding
  • Oxy-fuel Welding
  • Other Applications

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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FMI Prediction States Global Copper Pipes and Tubes Market Valuation to Exceed USD 48.8 Billion by 2033, Surging at 3.2% CAGR Growth

The copper pipes and tubes market is poised for significant growth, projecting a Compound Annual Growth Rate (CAGR) of 3.2% over the forecasted period. This trajectory is expected to culminate in a substantial market value surpassing USD 48.8 billion by 2033.

This anticipated growth exceeds traditional statistical predictions, highlighting the enduring versatility and significance of copper across diverse applications. A pivotal catalyst driving this expansion is the increasing demand for HVAC (Heating, Ventilation, and Air Conditioning) units. With global construction activities gaining momentum, the installation of HVAC systems is on the rise, with copper pipes and tubes assuming a pivotal role. Renowned for their exceptional thermal conductivity, durability, and resistance to corrosion, these components emerge as the preferred choice, ensuring the efficient operation of heating and cooling systems.

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Key Takeaways:

  • The United States copper pipes and tubes industry is estimated to attain USD 8.2 billion by 2033. Over the forecast period, the market is expected to expand at a CAGR of 3.1%. From 2018 to 2022, the market registered a CAGR of 4.4%.
  • The United Kingdom copper pipes and tubes industry is projected to be worth USD 1.8 billion by 2033. Over the estimated time, the market is projected to record a CAGR of 2.9%. Before this, the market registered a CAGR of 4.2%.
  • The China market stands prominently among the top-tier copper pipes and tubes economies. The market is expected to reach a valuation of USD 10.4 billion by 2033 end. From 2023 to 2033, the market is projected to expand at a CAGR of 3.1%.
  • The Japan market is projected to be valued at USD 9.4 billion by 2033. In the next ten years, the market is presumed to pace at a CAGR of 3.1%.
  • The South Korean copper pipes and tubes industry is projected to be valued at USD 2.5 billion by the end of 2033. Over the assessment period, the market is expected to expand at a CAGR of 2.8%.
  • Based on end use, the HVAC segment is expected to be at the top. The segment is expected to register a CAGR of 3%, as compared to the 4.1% CAGR recorded in the historical period.
  • The seamless copper pipes and tubes are expected to record a CAGR of 3.1% in the forecast period. The segment had grown at a CAGR of 4.2% in the historical period.

Competitive Landscape:

  • In February 2023, Mettube Copper India Private Limited, which is an Indian arm of the Malaysian firm, entered an arrangement with the Gujarat Government to establish its copper tube production factory in Sanand. The MNC has decided to invest around INR 1,000 crore in the first phase to set up the facility. The company’s copper tubes are used in the air conditioning and refrigeration industries. Since the plant is expected to produce 5th Gen copper tubes, the plant can be instrumental in reducing the carbon footprint in the future.
  • In January 2023, Lawton Tubes, a leading manufacturer of medical-grade copper tubes in the United Kingdom, announced that it may exhibit its expertise at Arab Health this year. The company has been a critical distributor of copper pipelines in and out of the United Kingdom, covering 35+ countries. At the event, the company is going to celebrate its assistance during the fight against COVID and discuss the feasibility of copper tubes in carrying medical gases.

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Key Players:

Furukawa Electric Co., Ltd., Global Brass and Copper Holdings, Inc., ElvalHalcor, Mueller Industries, Aurubis AG, Cerro Flow Products LLC, Fabrika bakarnih cevi A.D. Majdanpek, Foshan Huahong Copper Tube Co., Ltd, Cambridge-Lee Industries LLC, H & H Tube, Zhejiang Hailiang Co., Ltd., Kobelco & Materials Copper Tube Co., Ltd., MM Kembla, Mehta Tubes Ltd., Qingdao Hongtai Copper Co., Ltd.

Key Segments Profiled:

By Product Type:

  • Seamless
  • Welded

By End Use:

  • HVAC
  • Industrial Heat Exchange
  • Plumbing
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

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

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Reach-In Freezers Market Valuation Anticipated to Reach USD 3.2 Billion Mark by 2033, Driven by 3.7% CAGR Growth | FMI Study

The global reach-in freezers market was positioned to achieve a significant value of USD 2.2 billion in 2023. This thriving market is poised for consistent expansion, fueled by an impressive compound annual growth rate (CAGR) of 3.7% projected between 2023 and 2033. By the year 2033, the reach-in freezers market envisions a noteworthy valuation of USD 3.2 billion. This upward trajectory is intricately tied to the escalating emphasis on energy-efficient appliances, aligning seamlessly with the global initiative to reduce energy consumption and foster sustainability.

A notable catalyst for this remarkable growth is attributed to the surge in government initiatives advocating for the adoption of energy-efficient appliances. As the world addresses critical environmental concerns and endeavors to mitigate the widespread impacts of climate change, governments globally are actively implementing measures to incentivize the integration of energy-conserving technologies. Reach-in freezers, celebrated for their ability to maintain consistently low temperatures while optimizing energy usage, are strategically positioned to capitalize on the advantages of these forward-thinking governmental initiatives.

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The market is poised for significant growth in the coming years due to several factors that are driving the market. The demand for frozen foods is on the rise due to the busy lifestyle of people, which has led to an increased need for storage and preservation of these foods.

Moreover, the trend towards smaller living spaces and the rise of mobile food businesses has led to a growing demand for compact and portable reach-in freezers that offer convenience and flexibility in terms of storage and transportation.

Unveiling Technological Triumphs: Energy-Efficient Reach-In Freezers Shaping the Future

Redefining Cool: The Technological Marvels

The relentless march of technology has orchestrated a transformation in the realm of refrigeration, birthing a new era of energy-efficient and environmentally-conscious reach-in freezers. This paradigm shift, heralded by innovative minds, has sparked a fervor among consumers who yearn for sustainability without compromising on efficiency. A symphony of eco-friendliness and technological prowess is steering the trajectory of reach-in freezers towards uncharted domains.

Manufacturers’ Odyssey: Investment in R&D for Elevated Features

In the arena of refrigeration, the quest for excellence knows no bounds. Manufacturers are ensconced in a fervent exploration of research and development, ceaselessly refining the facets of reach-in freezers. This relentless pursuit of perfection is poised to ignite a conflagration of demand, as consumers anticipate the embodiment of innovation within these cooling marvels.

Efficiency Reimagined: The Energy-Efficiency Imperative

A seismic shift in consumer consciousness has fostered a new era of priorities – energy efficiency reigns supreme. A resolute march towards sustainability and reduced environmental impact has elevated the allure of reach-in freezers adorned with stellar energy efficiency ratings. A crescendo of popularity is poised to follow, as consumers champion both cutting-edge technology and conscientious consumption.

Key Takeaways from the Market Study:

  • The global reach-in freezers market was valued at USD 2.1 billion by 2022-end.
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.4%.
  • North America is expected to hold the highest CAGR of 3.6% during the forecast period.
  • By types of freezers, the upright segment is expected to constitute a CAGR of 3.5%
  • By application, the commercial segment is expected to dominate the market with a CAGR of 3.4%.

Key Players:

  • Leer
  • Valpro
  • Trufrost
  • Traulsen
  • Summit
  • Nella
  • HOSHIZAKI Corp.
  • Grista
  • Galaxy
  • Delfield
  • Beverage Air

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Market Segmentation:

By Types of Freezers:

  • Upright
  • Chest
  • Drawer
  • Freezer

By Refrigerant Used:

  • R22
  • R410A
  • Others

By Component:

  • Compressor
    • Rotary Vane
    • Reciprocating
  • Condenser
    • Air Cooled
    • Water Cooled
    • Evaporative
  • Evaporator
    • Bar Tube
    • Plate Surface
    • Finned Tube
  • Capillary Tube

By Application:

  • Residential
  • Commercial
    • Hotels/Restaurants
    • Bakeries
    • Laboratories
    • Travel Agencies

By Region:

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

Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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 Food Holding and Warming Equipment Market Share Projected to Exceed USD 6.7 Billion by 2033, Driven by 3.2% CAGR Growth

The Food Holding and Warming Equipment Market is forecast to reach USD 4.9 Billion by the year 2023, with a projected CAGR of 3.2% between 2023 and 2033. This growth is primarily driven by the increasing emphasis on food quality and safety, which creates a favorable environment for the food holding and warming equipment market. The market is expected to continue growing, reaching around USD 6.7 Billion by 2033.

A major factor contributing to the growth of the food holding and warming equipment market is the increasing number of foodservice providers, such as food trucks and pop-up restaurants, which is expected to boost the demand for portable and compact food holding and warming equipment.

Customers are increasingly looking for customizable food holding and warming equipment that can cater to their specific needs. Manufacturers are responding to this demand by offering a wide range of products with customizable features, such as temperature control, size, and capacity.

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The increasing focus on energy efficiency and sustainability is another key factor driving the growth of the food holding and warming equipment market. Manufacturers are introducing products that are designed to reduce energy consumption and minimize environmental impact, which appeals to customers who prioritize sustainability, and has led to a rise in the adoption of energy-efficient food holding and warming equipment.

The integration of advanced technologies like IoT-enabled sensors and cloud-based monitoring systems is also expected to revolutionize the food holding and warming equipment market. The technologies enable better temperature control, food safety monitoring, and real-time data analysis, which helps to improve operational efficiency and reduce food waste. The technologies also provide valuable insights to foodservice providers, helping them optimize their operations and improve customer satisfaction.

Smart food holding and warming equipment with features such as Wi-Fi connectivity and remote monitoring capabilities are gaining popularity among foodservice providers. The features enable businesses to monitor their equipment and food in real-time, making it easier to maintain food safety and quality.

Key Takeaways:

  • Global food holding and warming equipment market was valued at USD 4.7 Billion by 2022 end.
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.1%.
  • North America is expected to hold a dominant CAGR of 3.1% during the forecast period.
  • By Category, the heated display cases segment is expected to constitute a CAGR of 3.1% in 2033.
  • On the basis of Application, the restaurants segment is expected to dominate the market with a CAGR of 3.0% in 2033.

Competitive Landscape:

Prominent players in the food holding and warming equipment market are Admiral Craft, Cambro Manufacturing, The Middleby Corporation, Hatco, Cres Cor, Raulsen, True Manufacturing, Turbo Air, Vollrath, Welbilt Inc., Vulcan, Winco, Alto-Shaam, Avantco Equipment, among others.

Recent Developments:

  • In 2021, The Vollrath Company introduced a new line of sous vide immersion circulators, which are designed to precisely cook and hold food at a specific temperature.
  • In 2021, Welbilt Inc. launched a new line of heated holding cabinets called the Garland HGD Series, which are designed for high-volume kitchens and can hold a variety of food items at different temperatures.
  • In 2020, Hatco Corporation launched a new line of food holding cabinets called Intelligent Heated Display Cabinets, which are designed to maintain food temperature, quality, and presentation.
  • In 2020, Alto-Shaam introduced new combi oven models featuring Halo Heat technology, which uses low-temperature radiant heat to gently cook and hold food.

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Key Segments Covered:

By Category:

  • Heated Display Case
  • Food Pan Warmer/Rethermalizer
  • Heat Lamp/Cabinet
  • Heated Holding Proofing Cabinet
  • Heated Shelf Food Warmer
  • Warming Drawer

By Installation Type:

  • Undercounter
  • Counter-Top

By Material Type:

  • Acrylic
  • Aluminium
  • Stainless Steel

By Display Rack Type:

  • Rotating Racks
  • Shelves

By Application:

  • Hotels
  • Restaurants
  • Cafes
  • Bakeries
  • Food Courts
  • Others

Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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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FMI Affirms Global Hand Sinks Market Revenue Share to Exceed USD 1.6 Billion Mark by 2033, Growing Steadily at 4.4% CAGR

The hand sinks market is poised to achieve a projected valuation of USD 1.09 billion in 2023, followed by a robust Compound Annual Growth Rate (CAGR) of 4.4% from 2023 to 2033. Propelled by an escalating demand for resilient healthcare infrastructure, this market is strategically positioned for sustained expansion, aiming for an impressive USD 1.6 billion valuation by 2033.

In the context of global environmental consciousness and a collective commitment to sustainability, there is a notable surge in demand for hand sinks designed with an environmentally conscious touch. Beyond their primary function of promoting cleanliness, these sinks are dedicated to minimizing environmental impact, aligning seamlessly with the overarching goal of a greener and more sustainable future. The trajectory of this market not only revolves around hygiene but also underscores a dedication to contributing to a healthier planet.

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Innovative Solutions for Sustainable Corporate Spaces: The Power of Eco-Friendly Hand Sinks

In the dynamic landscape of corporate responsibility, sustainable practices are not only a moral obligation but also a smart business strategy. As organizations strive to align their operations with eco-conscious goals, the spotlight is now on innovative solutions that merge functionality with environmental stewardship. Enter the realm of “Eco-Friendly Hand Sinks,” where cutting-edge technology meets water and energy conservation, creating a win-win scenario for businesses and the planet.

Water Conservation: A Streamlined Approach

In today’s water-conscious world, prudent resource management is imperative. Eco-friendly hand sinks offer a refreshing approach to water conservation, recognizing it as a pivotal aspect of sustainable operations. Leveraging advancements in engineering, manufacturers have meticulously crafted hand sinks that embrace water-saving features. Ingenious low-flow faucets and aerators stand as testaments to this commitment.

Smart Flow Regulation:

A crucial hallmark of modern eco-friendly hand sinks lies in their ingenious use of technology to regulate water flow. Through the incorporation of cutting-edge technologies, these sinks meticulously calibrate water usage during hand washing, delivering an efficient cleansing process while dramatically reducing water consumption. Corporate spaces can now champion water conservation without compromising on the effectiveness of their hygiene protocols.

Responsible Resource Management:

For regions grappling with water scarcity and industries placing a premium on water conservation, eco-friendly hand sinks emerge as beacons of responsible resource management. By conscientiously minimizing water usage, these sinks contribute to water-sensitive ecosystems and communities. Corporate entities can take center stage in water stewardship, exemplifying a commitment to sustainable practices that resonate beyond boardroom walls.

Elevating Energy Efficiency: A Technological Symphony

In the contemporary symphony of sustainability, energy efficiency harmonizes with water conservation. Eco-friendly hand sinks orchestrate this symphony by ingeniously infusing energy-efficient components, elevating these sinks to unparalleled efficiency.

Precision-Driven Functionality:

The heart of energy efficiency lies in the precision-driven functionality of modern hand sinks. Through the integration of intelligent sensors and timers, manufacturers have redefined sink operation. Water flow and related functions are activated with surgical precision, exclusively when required. This meticulous orchestration minimizes energy consumption, thereby curbing the carbon footprint associated with hand sinks.

A Greener Footprint, A Brighter Future:

As corporate lads and business enthusiasts delve into the realm of eco-friendly hand sinks, they embrace a transformational journey towards a greener footprint. These sinks transcend conventional functionality, seamlessly blending technological innovation with corporate responsibility. By integrating water-saving and energy-efficient features, they empower businesses to actively contribute to global sustainability goals.

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Key Players Involved:

  • Kohler Co.
  • Elkay Manufacturing Company
  • American Standard Brands
  • TOTO Ltd.
  • Bradley Corporation
  • Just Manufacturing Company
  • Franke Group
  • Acorn Engineering Company
  • Zurn Industries, LLC
  • Sloan Valve Company

Key Segments Covered:

By Type:

  • Wall-Mounted Hand Sinks
  • Deck Mounted Hand Sinks
  • Pedestal Hand Sinks

By Material:

  • Stainless Steel Hand Sinks
  • Ceramic Hand Sinks
  • Cast Iron
  • Composite Hand Sinks

By End-Use Industry:

  • Restaurants and Foodservice
  • Healthcare Facilities
  • Educational Institutions
  • Commercial Offices
  • Hospitality and Tourism
  • Industrial and Manufacturing Value (US $ Million) & Volume (Units)s
  • Public Restrooms
  • Retail Stores
  • Residential Buildings
  • Others

By Region:

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

Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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 Countertop Ice Dispensers Market Gears Up for USD 904.5 Million Valuation Upto 2033, Driving an Average Growth of 6.3% CAGR

The countertop ice dispensers market is forecasted to maintain a robust Compound Annual Growth Rate (CAGR) of 6.3% from 2023 to 2033, indicating an anticipated market worth of approximately USD 904.5 million by 2033, according to insights from Future Market Insights. Experiencing significant expansion, the global market is expected to achieve a valuation of USD 491.0 million by 2023.

This notable growth is attributed to the widespread adoption of energy-efficient appliances, driven by supportive government initiatives globally. A key driver behind this accelerated growth is the rising demand for appliances that can address the evolving needs of modern households and commercial spaces. With the global population and businesses expanding, there is an increasing requirement for compact, versatile, and efficient appliances. Countertop ice dispensers emerge as an ideal solution to meet these demands, offering a convenient and space-efficient solution that seamlessly aligns with contemporary lifestyles.

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Exploring Global Countertop Ice Dispenser Market Trends:

Region-wise Insights: A Comparative Analysis

In the dynamic landscape of the global business arena, the countertop ice dispenser market has been witnessing significant growth trends across various regions. This analysis delves into the prevailing market dynamics in North America and Asia Pacific, shedding light on their potential trajectories and factors that drive their growth. Let’s explore the current and anticipated scenarios in these key regions:

North America: Pioneering Market Dominance

The North American countertop ice dispenser market has established itself as a dominant force, poised to maintain its supremacy in the upcoming year. With a projected Compound Annual Growth Rate (CAGR) of 6.2% in 2023, this region is exhibiting remarkable growth potential. This exponential surge is intrinsically linked to the burgeoning demand emanating from the robust foodservice industry.

Culinary Evolution Fuels Market Growth:

The relentless expansion of the foodservice sector in North America acts as a catalyst for the countertop ice dispenser market. The ever-increasing demand from restaurants, hotels, and diverse foodservice establishments propels the need for convenient and efficient ice solutions. As the foodservice domain continues its upward trajectory, the requisition for countertop ice dispensers is anticipated to amplify accordingly.

The Convenience Quotient:

In a fast-paced world, the essence of time-saving appliances cannot be overstated. Countertop ice dispensers have seamlessly woven convenience into the daily lives of consumers. The ability to access ice without the hassle of manual trays or intricate ice-making procedures has significantly bolstered the popularity of these dispensers among consumers.

Asia Pacific: Unleashing Technological Advancements

The Asia Pacific region is poised to unveil a captivating growth narrative in the countertop ice dispenser market. With an anticipated CAGR of 6.1%, this region is embracing technological advancements and societal shifts that are primed to catapult its market trajectory.

Urbanization: A Driving Force

The transformative wave of urbanization, particularly in countries like China and India, is redefining the demographic landscape. The surge in urban households and commercial spaces directly translates into a heightened demand for cutting-edge appliances, including countertop ice dispensers.

Hospitality and Tourism Amplify Demand:

Asia Pacific is experiencing an upswing in the hospitality and foodservice sector, bolstered by burgeoning tourism and evolving consumer preferences. The hospitality industry’s rapid evolution serves as a fertile ground for the adoption of countertop ice dispensers. These appliances find extensive utilization in hotels, restaurants, and other foodservice establishments to cater to the ever-increasing demand for on-demand ice supply.

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Key Companies Profiled:

  • Suwhwea
  • Summit Appliances
  • Servend
  • Scotsman Ice Systems
  • Manitowoc Ice
  • iceValet
  • Ice-O-Matic
  • Hoshizaki
  • Follett Corporation
  • Cornelius
  • Avantco Ice Machines
  • aoksee

Market Segmentation Analysis:

By Condenser Type:

  • Air Cooled
  • Water Cooling

By Dispenser Style:

  • Lever
  • Push Button
  • Sensor

By Material:

  • Stainless Steel
  • Metal
  • Plastic

By Application:

  • Household
  • Commercial
    • Restaurants
    • Bars/Clubs

By Region:

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

Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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 Set to Reach USD 13,001.4 Million by 2033, Growing at 23.8% CAGR

Behavioral Biometrics Market
Behavioral Biometrics Market

The global behavioral biometrics market is on track for significant growth, with Future Market Insights (FMI) reporting revenues of USD 1,254.7 million in 2022. Projected to expand at a robust compound annual growth rate (CAGR) of 23.8% from 2023 to 2033, the market is anticipated to reach USD 13,001.4 million by 2033, with expectations of USD 1,533.2 million by 2023.

Behavioral biometrics solutions offer advanced security measures by analyzing unique patterns in user behavior, such as keystroke dynamics, mouse movements, and voice recognition. These technologies provide enhanced authentication and fraud detection capabilities across various sectors, including banking, e-commerce, and cybersecurity.

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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

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

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

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Regulatory Reporting Solutions Market to Reach USD 21.0 Billion by 2033, Growing at 14.9% CAGR

Regulatory Reporting Solutions Market
Regulatory Reporting Solutions Market

The global market for regulatory reporting solutions market is poised for substantial growth, with projections indicating a robust compound annual growth rate (CAGR) of 14.9% from 2023 to 2033. Estimated at USD 5.2 billion in 2023, the market is expected to expand significantly, reaching USD 21.0 billion by 2033.

Regulatory reporting solutions play a critical role in the financial technology (RegTech) sector, representing nearly 60% of sales. These solutions enable organizations, particularly in banking and insurance sectors, to manage regulatory compliance efficiently, mitigate risks, and ensure real-time data analysis with enhanced flexibility and scalability.

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Furthermore, it makes it perfect for various types of regulatory reports such as financial reports, prudential reports, statistical reports, transactional reports, granular reports, and other various types of reports as per jurisdiction. Cloud-based regulatory reporting software, insurance companies, and cross-regulation banks comply with global regulatory requirements.

In order to follow the changing regulations, financial institutions are rapidly adopting new models and running them concurrently. Furthermore, financial institutions seek new technologies that aid them to track, manage, and trace the liquidity risk and regulatory reporting data and also to better understand the crisis impact on the balance sheet and financial liquidity.

Additionally, adequate technology and solutions help banks and financial institutions to smoothly navigate regulatory reporting and financial liquidity issues. Companies are reducing regulatory costs by utilizing third-party regulatory reporting services.

Key Takeaways

  • The increasing number of fraudulent activities has resulted in the development of RegTech (Regulatory Technology) solutions for efficient regulatory reporting. Furthermore, the implementation of these solutions assists in a significant reduction of compliance costs and improves efficiency.
  • RegTech is also responsible for speeding up the business processes, enhancing their reliability, and reducing hassle for customers and the risk of compliance failures. In addition to that, regulatory reporting comprises several components such as financial reporting, transactional reporting, prudential reporting, granular reporting, statistical reporting, and others.
  • In order to go through hassle-free reporting for humongous transactions of financial institutions, RegTech solutions have witnessed a significant rise in demand. These solutions include transaction monitoring, regulatory intelligence risk, and compliance management among others.
  • Customers are capable of choosing an appropriate RegTech solution depending on their performance attributing to the presence of a huge variety of solutions in the market. Furthermore, individual transactions in financial institutions are propelling at an exponential rate.
  • Regulatory reporting has rapidly become an important part of many countries all over the globe. The demand for faster and at the same time, accurate regulatory reporting such as financial performance, strategies and practices, and accounting policies requires an automated registry of regulatory reporting per transaction.
  • RegTech solution creates a need for a solution that comprises its own guidelines following regulations of government as well as institutions. AI is expected to enjoy broad adoption all over risk and compliance and regulatory reporting.
  • Numerous financial institutions utilize AI as a regulatory reporting solution. It is excessively viewed as a standard statistical toolkit for institutions, which allows them to rapidly add sophisticated data management capabilities according to regulations and policies. Moreover, this new tool may create organizational challenges that are much larger and more complex than spreadsheet environments.

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Competitive Landscape

Regulatory reporting solutions market players are focusing on several effective strategies for increasing their investments in research and development to support future technologies. In addition, several companies are acquiring and entering into a partnership with other companies to develop their own regulatory reporting solutions to serve their customers and reduce the churn rate.

Key Companies Profiled are Moody’s Analytics Wolters Kluwer Regnology Oracle SS&C Technologies Saude Labs Vermeg Workviva Prima Solutions Matterhorn Reporting Services Sopra Banking Software Sovos Compaliance Bloomberg Fintelix Smart Stram Technologies

More Insights into the Regulatory Reporting Solutions Market

The European region is anticipated to dominate the global regulatory reporting solutions market over the assessment period. According to the valuations, the United Kingdom regulatory reporting solutions are predicted to propel by 5.7X throughout the projection period.

The North American region is anticipated to create promising growth opportunities over the forecast period by accounting for nearly 84.1% of the North American market share through 2033.

Regulatory Reporting Solutions Outlook by Category

By Solution, Regulatory Reporting Solutions Demand is segmented as:

  • Regulatory Reporting Software
    • Cloud-based
    • On-premises
  • Services
    • Managed Services
    • Professional Services

By Industry, Regulatory Reporting Solutions Outlook is segmented as:

  • Banks
  • Insurance
  • Wealth & Asset Management
  • Securities & Investments

By Region, Regulatory Reporting Solutions Sales is segmented as:

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

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

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

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

FIDO Authentication Solutions Market Projected to Reach USD 12,059.7 Million by 2033, Growing at 23.1% CAGR

FIDO Authentication Solutions Market
FIDO Authentication Solutions Market

The global market for FIDO authentication solutions market is poised for significant growth, with revenues totaling USD 1,238.6 million in 2022. Future Market Insights (FMI) forecasts a robust compound annual growth rate (CAGR) of 23.1% from 2023 to 2033, projecting the market to reach USD 12,059.7 million by 2033.

FIDO (Fast Identity Online) authentication solutions have gained traction as organizations seek more secure and user-friendly authentication methods to combat rising cybersecurity threats. These solutions leverage advanced technologies such as biometrics and public key cryptography to enhance authentication processes across various applications and devices.

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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.

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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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

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

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube