Market Research Blog – Page 1807 – New Product Development

Polyurethane Resins Paints and Coatings Market Projected to Reach USD 52,468.87 Million by 2032

The polyurethane resins paints and coatings market exhibited significant growth, reaching a valuation of USD 33,786.16 million in 2022, and is projected to maintain a steady compound annual growth rate (CAGR) of 4.5% throughout the forecast period. Anticipated to surge in value to USD 52,468.87 million by 2032, this market’s expansion underscores the increasing demand for polyurethane-based solutions in the paints and coatings industry.

Polyurethane resins have emerged as a significant player in the global paints and coatings market, offering a versatile and durable solution for various applications. These resins are synthetic materials derived from the reaction of polyols and diisocyanates, creating a polymer with excellent adhesion, flexibility, and chemical resistance. Polyurethane resins paints and coatings find extensive use in industries such as automotive, construction, aerospace, and furniture, among others.

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Key Drivers of Polyurethane Resins Paints and Coatings Market:

Durability and Performance: One of the primary reasons for the growing popularity of polyurethane resins is their exceptional durability and high-performance characteristics. These coatings provide robust protection against abrasion, chemicals, and harsh weather conditions, ensuring a longer lifespan for the coated surfaces.
Versatility in Applications: Polyurethane resins can be formulated to meet specific requirements, making them suitable for a wide range of applications. From automotive finishes to industrial coatings and architectural paints, the versatility of polyurethane resins contributes to their widespread adoption across various industries.
Environmental Regulations and Sustainability: With an increasing focus on environmental regulations and sustainable practices, polyurethane resins manufacturers have developed formulations that are low in volatile organic compounds (VOCs) and hazardous air pollutants. This aligns with global efforts to reduce environmental impact and adhere to stringent regulations.
Rising Construction Activities: The construction industry, a major consumer of paints and coatings, has witnessed significant growth globally. Polyurethane resins, with their ability to provide weather-resistant and durable finishes, are increasingly being utilized in architectural coatings for both residential and commercial construction projects.
Automotive Sector Growth: The automotive industry demands coatings that not only enhance aesthetics but also provide protection against harsh environmental conditions. Polyurethane resins are preferred for automotive coatings due to their ability to withstand UV radiation, chemicals, and mechanical stress, contributing to the growth of the market.

Regional Outlook:

The market for polyurethane resins paints and coatings is geographically diverse, with North America, Europe, Asia-Pacific, and Latin America being key regions. The Asia-Pacific region, driven by rapid industrialization and infrastructure development, is expected to witness substantial growth in demand.

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Top Key Players in the Polyurethane Resins Paints and Coatings Market

BASF SE
Sherwin Williams
Henkel
Lubrizol
DSM
Arkema

Regional analysis in the Polyurethane Resins Paints and Coatings Market

North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~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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Automatic Identification System Market is Supposed to Rise at a CAGR of 7.3% by 2033 | Future Market Insights, Inc.

The automatic identification system market is expected to reach USD 264.5 million in 2023 and grow to USD 534.9 million by 2033, with a compound annual growth rate (CAGR) of 7.3%.

Automatic identification systems are increasingly used to enhance the safety of ships. As international trade grows and ships and fleets expand, the market potential for these systems also increases. The maritime industry uses these systems to manage traffic and reduce collision risks, driving market growth.

Sales of automatic identification systems are expected to rise due to advancements in navigation systems, increased globalization, and improved global connectivity. The growing need for these systems to facilitate communication between coastal authorities and ship crews is also fueling market expansion.

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Marine Industry Drives Automated Identification System Market Opportunities

The marine industry is massive and spreads all over the world. Cruises, fleets, and ships facilitate almost 90% of international commerce activity. As a result, in order to maintain any circumstance or natural calamity, marine management is implementing an automatic identification system to follow the vessel, control it, and assist it in sailing smoothly.

Shipping businesses struggle to manage huge ships and fleets, such as communicating information, location, and other updates. The development of an advanced technical automatic identification system makes it easier for mariners to keep track of their daily records. Weather forecasts, fuel use, and job data are all monitored by the system. These opportunities in the marine sector propel market growth.

Key Takeaways:

The automatic identification system market is expected to have a valuation of USD 534.9 million by 2033.
With a CAGR of 8.3%, the global market is expected to grow during the forecast period.
The United States automatic identification system market is anticipated to grow at a CAGR of 5.7% through 2033.
With a CAGR of 6.6%, the United Kingdom market is anticipated to significantly uplift during the forecast period.
The China market is expected to grow at a CAGR of 7.6% over the forecast period.

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Who is Winning?

The prominent players are essential to uplift the global market. The players focus on research and development activities to dive deeply into the market. These players and top manufacturing companies are developing better products and services using novel technology.

The prominent vendors are making several marketing strategies to drive market growth. The players are adopting marketing tactics such as mergers, acquisitions, partnerships, and agreements.

A Few Prominent Players in the Market are:

Wartsila Corporation
Japan Radio Corporation
L3 technologies
Orbcomm Inc.
Garmin
True Heading AB
Raymarine
Jotron AS
C.N.S. Systems AB
ACR Electronics Inc.
ONWA Marine Electronics Co. Ltd

Recent Development in the Automatic Identification System Market are:

In Oct 2021, ExactEarth announced USD 1.5 million for a one-year contract for Satellite A.I.S. services with Geospatial Intelligence under an agreement.
In Sep 2021, ExactEarth and Spire Global Inc. agreed to a USD 161.2 million conclusion to acquire ExactEarth.

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Automatic Identification System Market by Category

By Category:

Vessel Based- Class A, Class B
Shore Based- AIS Base Station
AIS AtoN
Others

By Application:

Fleet Management
Vessel Tracking
Maritime Security
Others

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & 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.

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Analog Phase Shifter Market | In Depth Analysis, Growth Strategies and Comprehensive Forecast 2027

Analog phase shifters have long been used in a small number of satellite communication and radar applications, with the defense industry accounting for a sizable portion of the market. This market situation is expected to alter in the upcoming years as 5G antennas use analog phase changers. The market for analog phase shifters will experience a significant increase due to the pervasive and ubiquitous nature of communications infrastructure.

For the constantly changeable phase, which is typically regulated by a voltage, analog phase shifters are utilized. Varactor diodes or nonlinear dielectrics are used in electrically controlled phase shifters. The main purpose for analog phase shifters is in phased array antennas, which are utilized in weather radars and satellites for military equipment.

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Analog phase shifter market to grow with Arial defense gaining importance among security forces

As political instability and civil war continue in the Middle East, rich economies like the U.S. and Saudi Arabia are likely to spend heavily on their aerial defense programs. The procurement of air-to-surface missiles and up-gradation of military jets is also on the rise.

Many countries are even implementing the use of drones into their arsenal. As phased array antennas are largely used in missile defense systems and military jets, the increasing focus on aerial defense will result in a favorable demand for analog phase shifters in the coming years.

Phased array radars have become omnipresent in defense applications due to significant investments over a long period of time. Several technological advancements in this sector have garnered the interest of a number of industries.

Analog phase shifter market to grow with Arial defense gaining importance among security forces

The application of phased array technology is done in many technologies such as air traffic control, weather monitoring, and automotive radar. Other than this, the usage of phased array antennas is also rampant in passenger airlines and private space explorers to develop applications on top of the currently available products.

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Key Segments Covered

By Application:

Radars
Satellites
Telecommunication

By Region:

North America
Western Europe
Eastern Europe
Latin America
APEJ
Japan
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.

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Industrial Machine Vision Market is Projected to Have a Robust CAGR of 6.9% by 2032 | Future Market Insights, Inc.

The industrial machine vision market refers to the use of advanced vision systems and technologies in various industrial applications. Machine vision systems utilize cameras, sensors, and image processing algorithms to automate inspection, measurement, and quality control processes in manufacturing and industrial settings.

The market for industrial machine vision worldwide is anticipated to reach USD 8.45 billion in 2022. During the projected period (2022-2032), the market is expected to grow at a CAGR of 6.9% and reach a value of USD 16.46 billion. The automation and replacement of humans with machines, which boosts productivity and reduces labor costs, is the major factor driving the industrial machine vision industry.

Industrial machine vision is becoming more common and substantially replacing manual inspection and measurement procedures as the demand for accurate and reliable inspection and measurements increases. Industrial machines offer quick response times, individualized plans, accurate data, and reduced redundancies.

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The Industrial Machine Vision Market is a rapidly growing industry that involves the use of computer vision technology to automate industrial processes. Machine vision systems are used to inspect, measure, and analyze objects in a wide range of industrial applications, from quality control to robotics. The market is driven by the increasing demand for automation in manufacturing processes, the need for high-quality inspection and monitoring, and the growing adoption of Industry 4.0.

Industrial Machine Vision Market: Drivers and Challenges

There are many factors driving the market for industrial machine vision. Which, one major factor is the fast and accurate processing of data by the system. The efficiency of industrial machine vision systems is increasing as manufacturers are investing in research and development.

The speed and accuracy parameters of industrial machine vision systems are getting better with new innovations in the market. This has increased the demand for industrial machine vision systems and has been a major driver for the market.

Other drivers for the industrial machine vision market have been the advent of vision-guided robotic systems in the industrial sector as industries all around the world are adopting robotic systems for manufacturing. Robotic systems require the deployment of industrial machine vision systems.

Some of the restraints for the industrial machine vision market have been related to the complex integration of industrial machine vision systems. The integration of industrial machine vision systems has been on the complex and expensive side and is thus restraining the market for industrial machine vision systems.

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Market Competition:

Some of the key participants present in the global Industrial Machine Vision market include

National Instruments,
Cognex Corporation,
Microscan Systems,
Allied Vision Technologies GmbH,
Basler AG,
Machine Vision Technology,
Keyence Corporation,
Cognex, Omron Corporation,
Sony Corporation,
Teledyne Technologies,
Texas Instruments,
Baumer Optronic,
tordivel,
MVTec Software,
SICK, and
ISRA VISION among others.

Industrial Machine Vision Market: Regional Overview

On the basis of geography, the industrial machine vision market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, SEA, and other APAC, Japan, and Middle East & Africa. Among various regions, the Western Europe industrial machine vision market is seen to be leading in terms of value, with Germany being the most attractive market.

Also, the industrial machine vision market in North America is expected to grow at the fastest rate due to an increase in the number of end-use industries enabled by industrial machine vision in the region. The industrial machine vision market in Western Europe and North America is expected to be followed by SEA & Others in APAC industrial machine vision market.

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Industrial Machine Vision Market Segmentation:

By Component:

Hardware
Software

By Product:

PC-based
Smart Camera-based

By Application:

Measurement
Identification
Positioning and Guidance
Quality Assurance and Inspection
Others

By End-User:

Automotive
Pharmaceutical & Healthcare
Food and Beverage
Electronics & Semiconductor
Packaging
Process Control
Printing & Labeling
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
CIS & Russia
Japan
Middle East & Africa

About Future Market Insights (FMI)

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

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Global IoT Network Management Market is Expected to Generate USD 41.5 Billion by 2032: Future Market Insights, Inc.

The IoT network management market is poised for substantial growth, with projections indicating that it will surge to an impressive USD 41.5 Billion by 2032, driven by a remarkable CAGR of 23.3%. This robust expansion can be attributed to the ever-increasing adoption of Internet of Things (IoT) devices across various industries, necessitating efficient and effective network management solutions.

As the IoT ecosystem continues to expand, businesses and organizations are recognizing the importance of seamless connectivity and data management, thereby fueling the demand for IoT network management solutions. The industry’s remarkable growth trajectory highlights its pivotal role in ensuring the reliability, security, and scalability of IoT networks, making it a crucial element in the ongoing digital transformation.

IoT networks are rapidly expanding across the globe, allowing businesses and industries to control and/or monitor a broad range of smart gadgets. With any network technology, speed and responsiveness are crucial for accurate and dependable IoT device performance.

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IoT networks, on the other hand, have a variety of network performance issues due to the presence of heterogeneous and resource-constrained devices communicating through error-prone radio channels and frequently deployed in hostile environments.

The Internet of Things (IoT) tangibly solves significant business problems in a variety of industries. Healthcare, smart cities, building management, utilities, transportation, and manufacturing are among the early users of this technology, attesting to its numerous advantages.

However, the amount of threats and cyberattacks directed at IoT devices and networks is on the rise in both number and complexity. Attacks like IoT botnets, DNS threats, IoT ransomware, IoT physical security, and shadow IoT are on the rise in IoT devices, connected software, and network connections.

Combining IoT solutions with edge processing technology supports minimizing the vulnerabilities as edge security helps protect users and sensitive data. So there is an increased need to secure the devices and network and use them to strengthen network security. As a result, enterprises are deploying IoT network management solutions to protect devices against new security threats.

Key Takeaways from the IoT Network Management Market Report:

By solution, demand in the network management platform segment is expected to grow at a CAGR of 24.4% through 2032.
Based on enterprise size, the SME segment is predicted to grow by 8.9X during the forecast period.
In terms of industry, the healthcare segment is predicted to grow at a CAGR of 29.9% between 2022 & 2032.
By region, North America accounted for the largest market share of around 32.3% in the IoT network management market in 2021, whereas the South Asia & Pacific region is showing the highest growth of around 28.4% CAGR during the forecast period.

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Leading Key Players:

Cisco
kyndryl
Behrtech
IBM
Sierra Wireless
RAKwireless
Commscope
Proscend
Particle Industries, Inc
Aeris
Datadog
Senet
Juniper Networks

More Valuable Insights on the IoT Network Management Market:

Future Market Insight’s report on IoT network management market industry research is segmented into four major sections – solution (network management platform (on-premise, and cloud-based), and services (professional services, and managed services)), enterprise size (large enterprises, and SMEs), industry (manufacturing, IT & telecom, BFSI, healthcare, transport & logistics, energy & utilities, retail, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and The Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the IoT network management demand outlook.

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IoT Network Management Market Segmentation:

By Solution:

Platform
- On-Premise
- Cloud-Based
Services
- Professional Service
- Managed Services

By Enterprise Size:

Large Enterprises
Small and Mid-Sized Enterprises (SMEs)

By Industry:

Manufacturing
IT & Telecom
BFSI
Healthcare
Transport & Logistics
Energy & Utilities
Retail
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
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.

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Flexible Electronic Market to Reach USD 87,209.3 Million, Globally by 2033 at 8.9% CAGR: Future Market Insights, Inc.

The flexible electronic market is estimated to be valued at USD 37,065.0 million in 2023. Projections suggest that the industry is set to grow significantly, with an anticipated value of USD 87,209.3 million by 2033. With a robust and consistent CAGR of 8.9% expected between 2023 and 2033, the flexible electronics sector demonstrates promising resilience and a strong potential for continuous expansion in the coming decade.

The flexible electronics industry is primarily driven by the increasing demand for lightweight, portable, and bendable electronic devices across various sectors. Technological advancements in material science, particularly the development of flexible substrates and conductive materials, have facilitated the production of durable and adaptable electronics.

Moreover, the rising need for energy-efficient and cost-effective electronic products and the growing integration of flexible electronics in healthcare and consumer electronics further propels the market.

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Despite its rapid growth, the flexible electronics industry encounters challenges, such as high production costs associated with specialized manufacturing techniques and materials. Limited flexibility in component integration and performance compared to traditional rigid electronics is also a notable constraint.

Furthermore, concerns about the durability and reliability of flexible electronic products, particularly in harsh environments, pose significant hurdles to widespread adoption in specific applications.

The market for flexible electronics is ripe with opportunities, with the increasing adoption of Internet of Things (IoT) devices and the development of wearable technology. The expanding applications in healthcare, automotive, aerospace, and consumer electronics sectors offer promising avenues for growth.

Additionally, the rising demand for lightweight and portable electronic devices, coupled with advancements in nanotechnology and flexible display technologies, presents a favorable landscape for the industry players to innovate and expand their product portfolios.

The industry is witnessing a surge in research and development activities focused on integrating organic and printed electronics, enabling the production of cost-effective and environmentally sustainable devices. The emergence of stretchable electronics and advancements in flexible battery technologies are revolutionizing the design and functionality of wearable devices and smart textiles.

Moreover, the growing emphasis on eco-friendly and biodegradable materials in producing flexible electronics is a prominent trend, reflecting the industry’s commitment to sustainability and green innovation.

Key Takeaways from the Flexible Electronic Market

With a market share of 24.5%, the flexible memory component dominates the Flexible Electronic Market, driven by increasing demand in consumer electronics and IoT applications.
The healthcare and medicine applications segment holds a substantial market share of 20.4% in 2023, integrating into wearable health monitoring devices and advanced medical diagnostic tools.
The United States showcases robust demand for flexible electronics with a CAGR of 16.5%, fueled by advanced healthcare solutions, flexible electronic wearables, and a surge in demand for flexible displays and batteries.
Canada’s market experiences an 8.2% CAGR, driven by adoption flexible sensors in healthcare, sustainable manufacturing, and flexible displays in retail and hospitality.
Germany’s market is driven by a CAGR of 6.4%, primarily due to strong demand for flexible sensors and displays in the automotive industry and industrial automation.
The United Kingdom witnessed an 8.8% CAGR, attributed to the growing adoption of consumer electronic devices, healthcare wearables, and smart packaging solutions.
India’s market is driven by a 7.8% CAGR, owing to increased demand for flexible displays in retail and e-commerce sectors and the adoption of flexible sensors in healthcare.
China’s market exhibits a robust CAGR of 10.2%, primarily due to significant deployment in consumer electronics and manufacturing industries.

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Competition Outlook of Flexible Electronic Market

Companies are vying for prominence in flexible electronics industries through innovative strategies and cutting-edge product development. From established industry giants to emerging players, the competitive sphere is witnessing a surge in initiatives to capture consumer attention and market share.

Key players ardently focus on research and development initiatives, channeling efforts into creating novel and advanced solutions. Emphasizing product differentiation and enhancements, these companies are continually seeking ways to align with the evolving demands of consumers. Strategic partnerships, collaborations, mergers, and acquisitions are key to expanding market presence and product portfolios.

Key Companies in the Market

Samsung Electronics
LG Electronics
E Ink
DuPont
Merck
Dow Chemical
Henkel
Rogers Corporation
Unimicron Technology
Universal Display
Konica Minolta
Sony

Recent Developments by Players in the Flexible Electronic Market

DuPont developed a new flexible circuit material called Pyralux that is thinner and more durable than previous materials. This could be used to develop more flexible and wearable electronic devices.
Merck developed a new flexible display material called Flex OLED that is brighter and more energy-efficient than previous materials. This could be used to develop new flexible smartphones and other devices with OLED displays.
Dow Chemical developed a new flexible battery material called Duracell PowerFlex that is thinner and more flexible than previous materials.
Henkel developed a new flexible adhesive called Loctite EA 9210 that is strong, durable, and flexible. This could be used to bond various materials together, including flexible electronic components.

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Flexible Electronic Market Key Segments

By Component:

Flexible displays
Flexible batteries
Flexible sensors
Flexible memory

By Application:

Consumer Electronics
Automotive industry
Defense and Aerospace
Sensing
Healthcare and Medical
Energy and Power industry

By Circuit Structure:

Single-sided
Double-sided

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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Automotive Tire Market is Expected to Reach USD 928.3 Billion by 2033, with a CAGR of 6.6% | FMI Reports

Automotive Tire Industry — Automotive Tire Market

The automotive tire market is projected to grow at a CAGR of 6.6% from 2023 to 2033, reaching a valuation of USD 928.3 billion by 2033, up from USD 503.9 billion in 2023.

This dynamic and rapidly evolving industry is driven by advancements in vehicle technology, changing consumer preferences, and increasing regulatory demands for safety and environmental sustainability. Recent trends show a significant shift towards high-performance and all-season tires that offer improved traction, durability, and fuel efficiency. The rise of electric vehicles (EVs) is also influencing tire design, with a need for tires that handle higher torque and provide lower rolling resistance to maximize battery life. Additionally, the growing emphasis on sustainability is prompting manufacturers to explore eco-friendly materials and recycling initiatives, aiming to reduce the environmental impact of tire production and disposal.

Innovation in tire technology is reshaping the market landscape, led by developments in smart tires and advanced sensor integration. Smart tires, equipped with embedded sensors, offer real-time monitoring of tire pressure, temperature, tread wear, and overall tire health. This data enhances vehicle safety by alerting drivers to potential issues before they become critical and contributes to fleet management efficiency by optimizing maintenance schedules and reducing downtime. Moreover, advancements in tire compounds and tread patterns are improving performance characteristics such as wet and dry grip, noise reduction, and ride comfort, catering to the diverse needs of both consumer and commercial vehicles.

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The global automotive tire market is also experiencing significant regional growth variations, driven by economic conditions, infrastructure development, and automotive industry trends. Emerging markets in Asia-Pacific, Latin America, and Africa are experiencing robust growth due to rising vehicle ownership rates and increased investments in road infrastructure. In contrast, mature markets in North America and Europe are focusing on the replacement tire segment and premium tire categories, driven by high vehicle parc and consumer demand for quality and performance. Ongoing consolidation among tire manufacturers, coupled with strategic partnerships and acquisitions, is further shaping the competitive landscape, leading to enhanced product offerings and expanded market reach.

Key Takeaways:

The automotive tires market is expected to grow at a CAGR of 6.6% during the forecast period.
As of 2023, the market is valued at US$ 503.9 Bn.
By 2033, the market is expected to reach a valuation of US$ 958.8 Bn.
Based on the regional analysis, Asia Pacific is expected to be the largest market during the forecast period.
The USA automotive tires market is projected to grow at a CAGR of 6.7%.
The Brazil market is projected to grow at a CAGR of 4.6%.
The Argentina market is projected to grow at a CAGR of 5.7%.
The India market is projected to grow at a CAGR of 7.4%.
The China automotive tires market is projected to grow at a CAGR of 7.3%.
On the basis of vehicle type, the commercial vehicles segment is expected to hold the largest market share, growing at a CAGR of 6.4% during the forecast period.
On the basis of sales channel, the aftermarket segment is expected to have the highest market share, growing at a CAGR of 6.6% during the forecast period.
On the basis of tire structure type, the radial automotive tires are expected to hold the largest market share during the forecast period, exceeding US$ 550.2 Billion by 2031.

Thus, from the insights provided by FMI researchers, it can be inferred that “increasing focus on safety norms, technological innovation in the automobile sector and a number of other factors are expected to surge the automotive tires market share during the forecast period.”

Competitive Landscape

The key players operating in the market are focusing on the mergers and acquisitions. The companies are merging with one another mainly to access the technologies available with both parties. Apart from that, the market expansion strategy also happens to be one of the key reasons. The key players are also collaborating with the manufacturers from the electric vehicles niche as the market of electric vehicles has a lot of scope going ahead.

The Major Manufacturers of Automotive Tires Market Are:

Continental AG
Bridgestone
Michelin
Goodyear tire and rubber company
Pirelli

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Some of the Recent Developments in the Automotive Tires Market Are:

In November 2022, Continental AG announced that it would be making use of skai surfaces to deliver a wide range of solutions for interior fittings on board ships.
In September 2022, Bridgestone announced that it would be investing US$ 60 million to expand the Abilene Bandag Retread Tire Plant.

Automotive Tires Market Segmentations

By Vehicle Type:

2/3 Wheeler (<18”, >=18”),
Passenger Vehicle (<=15”, 16”-19”, >=20”),
Commercial Vehicle,
Light Commercial Vehicle (<=15”, 16”-19”, >=20”),
Heavy Commercial Vehicle (<=20”, 21”-24”, >=24”),
Specialty Vehicle

By Tire Structure:

Radial (Tube, Tubeless),
Bias

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
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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Auto Ventilated Seats Market Forecast to Hit USD 18,429.3 Million by 2033, with a CAGR of 8.0% | FMI Reports

The Auto Ventilated Seats Market is projected to reach USD 8,560.1 million in 2023 and is expected to grow to USD 18,429.3 million by 2033, reflecting a significant CAGR of 8.0% over the forecast period.

This growth is driven by increasing consumer demand for enhanced comfort and driving experiences in vehicles. Auto ventilated seats, featuring built-in ventilation systems, offer superior comfort by regulating airflow and temperature, ensuring a more pleasant seating environment for passengers.

The growing preference for premium and luxury vehicles has boosted the demand for advanced comfort features like ventilated seats. These seats enhance air circulation, reducing discomfort during hot weather or extended periods of sitting.

The market for auto ventilated seats has also expanded due to their adoption in mid-segment cars and SUVs, where they are increasingly offered as standard or optional features, enhancing the appeal of these vehicles.

The aftermarket segment plays a crucial role in market expansion, as consumers increasingly seek to retrofit their existing vehicles with ventilated seats. This trend is supported by the availability of affordable and accessible retrofit options.

Technological advancements are driving innovation in the auto ventilated seats market. Manufacturers are incorporating features such as adjustable airflow, intelligent controls, and customizable settings to improve comfort. Integration with vehicle climate control systems further enhances the functionality of these seats.

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Axial fans hold a dominant market share of over 31.2% due to their effectiveness in ensuring proper airflow and ventilation within seats. These fans pull air from the environment and direct it towards the seat surface, promoting optimal circulation and cooling.

The mid-size car segment represents a significant value share of 26.7%, driven by increasing demand for ventilated seats in mid-size vehicle models.

In the United States, the market enjoys a prominent share of 15.1%, supported by a robust automotive industry and consumer demand for comfort features. Germany holds an 11.2% value share in the European market, reflecting consumer preferences for advanced comfort options and Germany’s strong automotive sector.

China, a key market, is expected to experience a growth rate of 9.0%, driven by its large-scale automobile production and export activities. The global demand for auto ventilated seats is influenced by global economic conditions and environmental regulations impacting vehicle exports from China.

Key takeaways for the Auto Ventilated Seats Market:

Market Growth and Forecast: The Auto Ventilated Seats Market is projected to grow from USD 8,560.1 million in 2023 to USD 18,429.3 million by 2033, at a CAGR of 8.0%. This growth is driven by increasing consumer demand for comfort-enhancing features in vehicles.
Consumer Demand: There is a rising preference for premium and luxury vehicles equipped with auto ventilated seats, which regulate airflow and temperature to provide a more comfortable seating experience.
Technological Advancements: Innovations such as adjustable airflow, intelligent controls, and integration with vehicle climate systems are enhancing the functionality and appeal of auto ventilated seats.
Aftermarket Growth: The aftermarket segment is expanding as more consumers seek to retrofit existing vehicles with ventilated seats, facilitated by accessible and affordable retrofit options.
Regional Insights: Markets like the United States, Germany, and China are significant contributors to the global market, driven by strong automotive industries and consumer demand for advanced comfort features.
Segment Dynamics: Axial fans dominate the market due to their effectiveness in ensuring proper ventilation within seats, catering to diverse vehicle segments including mid-size cars and SUVs.
Global Trends: The global market dynamics are influenced by economic conditions, environmental regulations, and technological advancements in vehicle manufacturing and design.

Recent Development

General Motors said in November 2022 that automobiles affected by the recent withdrawal of heated and ventilated seats due to a semiconductor shortage will be eligible for a refit process the following year.

Tata Harrier new top models without ventilated seats with connected car technologies will be offered in May 2022. The new variations will slot immediately below the top-spec XZ+ versions and the Harrier SUV’s Kaziranga Edition. The driver seat now offers six-way power adjustment as well as lumbar support that may be adjusted. However. Tata has not included items such as ventilated seats and iRA linked car technologies in the latest Harrier versions.

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Key Segments Covered in the Auto Ventilated Seats Market Report

By Vehicle Type:

Economy Cars
Mid-size Cars
Luxury Cars

By End User:

OEMs
Aftermarket

By Fan Type:

Axial Fan
Radial Fan

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

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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 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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Automated Guided Vehicles (AGV) Market Set for 8% CAGR, Reaching USD 2432.5 Million by 2033 | FMI Reports

The automated guided vehicles (AGV) market is set to grow significantly, with an anticipated valuation of approximately USD 1,126.7 Million in 2023 and projected to surge to around USD 2,432.5 Million by 2033, reflecting a robust CAGR of 8% over this period.

This growth is driven by the increasing deployment of AGVs across various sectors, including logistics, food and beverage, healthcare, and manufacturing. The widespread adoption of AGVs is expected to continue supporting their upward trajectory.

In Europe, the AGV market is projected to be led by the United Kingdom, with a forecasted CAGR of 7% during the forecast period. This growth is anticipated to significantly boost AGV demand and create substantial opportunities for AGV manufacturers in the region.

The rising demand for advanced AGVs in industries such as healthcare, aerospace, and e-commerce is fueling this trend in the United Kingdom. The integration of AGVs to enhance warehouse operational efficiency is a major factor driving demand in these sectors.

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Sophisticated technologies are increasingly being deployed in AGVs, including telematics services and various navigation methods such as laser, magnetic, infrared, and optical. Wireless communication is also gaining popularity due to its enhanced position monitoring precision.

Global industrialization is driving demand for AGVs in sectors such as oil and gas, transportation, and construction. The advanced features of AGVs, including fuel efficiency and customized material handling, are contributing to the positive sales outlook for the market.

AGVs offer scalability compared to fixed equipment. Instead of investing in stationary conveyors, manufacturers can deploy a fleet of AGVs to reduce operational time and increase production efficiency, aligning with the growing trend toward automation.

Key Takeaways from the Automated Guided Vehicles (AGV) Market Report:

In the historical period from 2018 to 2022, the market increased at a CAGR of 4.6%.
FMI forecasts good growth for automated guided vehicles in the United States, with the industry rising at a 5.7% CAGR through 2033.
Between 2023 and 2033, the market in India is projected to expand at an outstanding 8% CAGR.
According to FMI’s analysis, the United Kingdom is expected to lead Europe’s AGV market, rising at a healthy 7% CAGR during the projection period.
The market’s leading players control roughly 60% of the market.

Competitive Landscape:
Leading players are focusing on expanding their already extensive product offerings. Increasing expenditure in research to develop improved products is another key strategy for market players to preserve their market position.

In March 2022, Seegrid Corporation, a creator of autonomous mobility robots worked with ROBEX. This collaborative project would assist Seegrid Corporation in growing its operations while also offering Seegrid Corporation products to ROBEX customers. This could also contribute to a great demand for supply chain management automation.
ResGreen Group International, Inc. (OTC PINK: RGGI) (the “Company”), a next-generation smartphone automation and software solutions provider, announced in May 2023, the release of its bidirectional BigBuddy. It is one of the industry’s durable AGVs that uses magnetic strips to transfer masses up to 5,000 pounds.

Leading Key Players:

JBT Corporation
Kuka AG,
Daifuku Co., Ltd.
Kion Group AG
Omron Adept Technologies, INC.
AGVE Group, Inc.
Murata Machinery
Transbotics Corporation
Oceaneering International Inc.
Seegrid Corporation

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Automated Guided Vehicles (AGV) Market Segmentation:

By Technology Type:

Laser Guidance
Magnetic Guidance
Infrared Guidance
Wire Guidance
Inertial Guided
Optical Guided

By Application Type:

Transportation
Distribution
Storage

By Vehicle Type:

Unit Load Carrier
Pallet Truck
Assembly Line Vehicle
Tow Vehicle
Forklift Truck
Light Load Transporters

By End Use:

Logistics
Healthcare
Automotive
Manufacturing
Food & Beverages
Aerospace

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The 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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Global Medical Electronic Market to be Worth USD 14,960.9 Million by 2033: Future Market Insights, Inc.

The global Medical Electronic Market is foreseen to reach USD 7,725.0 million by 2023, the market has the potential for substantial expansion. From 2023 to 2033, medical electronics sales are projected to strengthen at a convincing CAGR of 6.8%. The Medical Electronic Market is projected to be worth USD 14,960.9 million by 2033.

Revolutionizing Healthcare with Advanced Technologies

Technological innovations have introduced a new age for medical electronics manufacturers. Electronics, sensor, and medical device advancements have resulted in highly sophisticated and efficient solutions, transforming patient care, diagnostics, and treatment. As the demand for advanced medical electronics continues to expand, it creates an opportunity for businesses to invest in innovative research and development and product development.

Staying on the leading edge of the advancements opens up revenue opportunities and gives a competitive advantage in a continually evolving market. Adapting to and capitalizing on the advances is critical for sustained growth in the medical electronics sector.

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Ascending Chronic Disease Rates Spur Demand for Medical Electronic

The expanding chronic illness management devices market presents an opportunity for long-term business expansion and market share.
Medical electronics manufacturers offer the potential for innovation in developing advanced and efficient equipment for chronic disease management.
Collaborations with healthcare providers and institutions to integrate technological solutions into the chronic illness management process may prove beneficial.
It is critical for success in medical electronicsto ensure that products meet regulatory and safety standards.

Factors Stifling Market Growth of Medical Electronics

The intricate network of rules and compliance standards is a big problem in the market. The demanding approval process causes delays, excessive expenditures, and the requirement to uphold rigid quality standards.
Modern medical electronics require significant financial commitments to develop. The expenses are immense for everything from clinical trials to research and development. Smaller medical electronics manufacturers are unable to enter the market due to the financial hurdle.
Hackers are increasing risks to the medical electronics business, endangering lives and compromising private patient data.

“The market has the potential to continue to expand significantly. Technological advancements, soaring healthcare costs, and the demand for innovative diagnostic and treatment choices stimulate the upsurge. With an optimistic outlook, it is a lucrative area for investment and innovation.” Comments an analyst.

Key Takeaways

By 2023, the market in the United States is expected to prosper at a CAGR of 17.6%.
From 2023 to 2033, the Canada market is poised to expand at a CAGR of 8.3%.
Through 2033, the market in the United Kingdom is scheduled to register a CAGR of 10.4%.
By 2023, the Germany market is going to experience a CAGR of 8.5%.
By 2023, the France market is expected to exhibit a CAGR of 6.9%.
Through 2033, the China market is going to evolve at a CAGR of 9.1%.
By 2023, the India market is estimated to advance at a CAGR of 8.5%.
By 2023, the Japan market is predicted to accelerate at a CAGR of 4.3%.
From 2023 to 2033, the South Korea market anticipates growth at a CAGR of 3.6%.
From 2023 to 2033, the type category’s wearable gadget segment to gain a share of 17.6%.
The health monitoring segment to capture a 15.4% market share in the application category between 2023 and 2033.

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Competitive Outlook

The existence of numerous influential competitors makes the Medical Electronic Market dynamic. Few significant medical electronics manufacturers control most of the market in terms of market share. Certain major medical electronics manufacturers are acquiring and forming joint ventures with other businesses to strengthen market positions globally.

Vital Medical Electronics Manufacturers

Siemens AG
Analog Devices
Angiotech Pharmaceuticals, Inc.
GE Healthcare
Maxim Integrated
Texas Instruments Incorporated
Fairchild Semiconductor International
ON Semiconductor Corporation
STMicroelectronics N.V.
Freescale Semiconductor, Inc.
Cypress Semiconductor Corporation
Biotronik GMBH and CO.KG.

Recent Progressions

VUNO Received Approval for Its ECG Gadget: VUNO, a medical artificial intelligence firm, received approval from the South Korean Ministry of Food and Drug Safety in August 2022 for their ECG gadget, Hativ Pro. A portable medical equipment that examines a user’s heart rate and delivers the data through a connected mobile phone app.
Collaboration of Shineco, Inc. and Weifang Jianyi Medical Devices Co., Ltd.: Shineco, Inc. announced a collaboration with Weifang Jianyi Medical Devices Co., Ltd. in February 2022 to jointly produce and commercialize imaging devices such as PET, PET-CT, and PET-MRI.

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Medical Electronic Market: Key Segmentations

By Type:

Size
Handheld devices
Heavy base devices
Wearable gadgets
Wireless connected devices
RFID-based health tracking devices
RADAR technology-based ultrasound machine

By Application:

Imaging
Health monitoring
Digital assistance
Digital diagnostic
Medical therapy
Fitness
Wellness
Healthcare

By Component:

Sensor
Battery
Display
Processors
Memory

By Region:

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

About Future Market Insights (FMI)

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

Contact Us: