Market Research Blog – Page 3113 – New Product Development

Digital Risk Protection Platform Market Set to Surge, Projected to Hit US$ 2,748.55 Million by 2033

The digital risk protection platform market is expected to thrive at a CAGR of 10.1% between 2023 and 2033. The market is expected to cross a market share of US$ 2,748.55 million by 2033 while it is likely to be valued at US$ 1,050.5 million in 2023.

Established businesses going online, increasing online banking services and payments, and storage of intellectual property are flourishing the demand for services.

Governments building stringent norms to eliminate cyber threats and promoting enhanced security solutions are expected to garner growth for the market.

Growing e-commerce businesses increasing phishing and other attacks. This is fueling the demand for digital security platforms.

New security properties delivered by vendors like secured cloud storage, advanced threat protection, and email protection are fueling the demand for digital risk protection solutions.

Advanced SOCRadar digital risk protection platform is applied across the industry verticals, which acts as digital risk protection further fuels the market growth.

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Key Takeaways from the Digital Risk Protection Platform Market Report:

The United States market is likely to lead the digital risk protection platform market in terms of market share and CAGR in North America. The market is expected to thrive at a leading CAGR of 7.2% between 2023 and 2033. The market growth is attributed to the rapidly growing e-commerce and outsourcing businesses. The regional market is likely to cross a value of US$ 493.84 million by 2033.
China is another significant digital risk protection platform market. The regional growth is attributed to the increase in businesses across the region that are going online. The regional market is anticipated to record a CAGR of 10.6% during the forecast period while it is expected to hold a value of US$ 290.03 million by 2033.
The large enterprise segment is likely to register in the enterprise size category at a CAGR of 9.3% during the forecast period. The growth is attributed to factors like increased investment and high data compilation.
The integrated digital risk protection platform is expected to top the solutions type category as it is expected to develop a CAGR of 10.7% between 2023 and 2033.

Leading Key Players:

Proofpoint
Digital Shadows Ltd.
FireEye
LookingGlass Cyber Solutions
RSA Security LLC
PhishLabs
Axur
Blueliv
CYBERSPRINT
Safeguard Cyber
RiskIQ

Market Developments:

In March 2022, ThreatNG, a new cybersecurity firm, was officially launched and aimed at providing cybersecurity solutions and services to all sizes of businesses. The new venture is being branded as ‘security-centric’ and not ‘security-exclusive’, which indicates that the company may be providing more solutions other than cybersecurity verticals.
Proofpoint has introduced its content threat monitoring systems that monitor any threats against your brand, locations, and executives. The company delivers social account protection that enforces the publishing applications policy.

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Digital Risk Protection Platform Market Segmentation:

Integrated Digital Risk Protection Platforms
- Cloud Platforms
- On-premise Platforms
Digital Risk Protection Services
- Integration & Implementation
- Digital Risk Consulting & Advisory
- Support & Maintenance

Digital Risk Protection Platform Market by Enterprise Size:

SMEs
Large Enterprises

Digital Risk Protection Platform Market by Industry:

IT & Telecom
BFSI
Automotive
Healthcare
Manufacturing
Government
Education
Others

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
The Middle East & Africa (MEA)

Authored By:

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 across 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.

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Zoned Flash Market Sees Explosive Growth: Predicts 36.7% CAGR, Targeting US$ 9,194.51 Million by 2033

The zoned flash market is expected to be worth US$ 403.5 million in 2023. Zoned flash device sales are predicted to expand at a 36.7% CAGR and achieve a market valuation of US$ 9,194.51 million by 2033.

The ongoing COVID-19 epidemic has resulted in a major increase in cyberattacks, with multiple organizations reporting compromises across online platforms and data theft. As a result, enterprises have increased their spending on hardware-based storage systems, providing excellent growth possibilities for the zoned flash industry. As data assimilation becomes more sophisticated, significant businesses are taking advantage of the circumstance to increase their market position.

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Key Takeaways from the Zoned Flash Market Report:

The global zoned flash market will surpass US$ 3.5 Bn by the end of the forecast period.
In terms of the drive surface, the SATA category is anticipated to account for maximum sway in the global market.
Based on the component, the SSD management software category will rise to reach a market valuation of over US$ 2.6 Bn by 2030.
In terms of end-user, business enterprises will witness impressive growth prospects, reaching at an estimation of US$ 1.2 Bn through 2030.

Zoned Flash Market — Key Trends

The implementation of solid-state drives (SSDs) is acquiring significant traction within the global market.
The provision of using larger capacity devices in a more cost-efficient way that enables proficient system-wide performance management has opened up impressive growth prospects for the zoned flash market.
Non-Volatile Memory Express (NVMe) host controller interface provisions are egressing as the keystone of the global market

Zoned Flash Market — Regional Analysis

North America is poised to register a monumental CAGR of 36.8% during 2020–2030 due to various notable developments concerning data collation.
Europe will witness a substantial scenario shift due to favorable pricing policies introduced by governments across the region.
East Asia will be the fastest-growing region recording a dexterous CAGR of 42.8% owing to the flexibility of operations and favorable reimbursement policies.

Zoned Flash Market — Competitive Landscape

Prominent companies in the zoned flash market are shifting towards developing sturdy data storage solutions by dishing out the latest hardware devices incorporated with smart solutions to pull in a broader consumer base. Additionally, they are investing in acquisitions, collaborations, and partnerships to increase their market impressions.

Western Digital’s OpenFlex Solution is selected by the ICM Brain & Spine Institute to restructure treatment options and critical cures. The solution will help doctors capture, share, and analyze patient data from multiple clinical imaging tools through diverse labs.

Leading Key Players:

IBM Corporation
Radian Memory Systems Inc.
Western Digital Corporation
SK Hynix
SANBlaze
Microchip Technology Inc.

Key Segments of Zoned Flash Industry Survey

By Component:

Zoned Flash SSD
SSD Management Software

By Drive Interface:

Serial Advanced Technology Attachment (SATA)
Statistical Analysis Systems (SAS)

By End User:

Zoned Flash Devices for Data Centres
Zoned Flash Devices for Enterprises
- Zoned Flash Devices for Large Enterprises
- Zoned Flash Devices for SMEs
Others

By Region:

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

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Submarine Cable Market Surges at 5% CAGR to US$ 3,970 Million by 2034

The submarine cable market is poised for remarkable growth, projected to surge to an impressive US$ 3,970 Million by the year 2034, boasting a steady 5% CAGR. This surge underscores the increasing importance and reliance on submarine cables in our interconnected world. These cables, often unseen but vital, serve as the backbone of global communication networks, facilitating the transmission of data, voice, and internet traffic across continents.

With the ever-expanding demand for high-speed internet and reliable connectivity, the submarine cable market is primed to play a pivotal role in meeting these escalating needs, driving innovation and efficiency in the telecommunications industry.

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Submarine power cables are also used by electricity network providers to connect power systems in several nations. These reasons have led to an increase in demand for the market for submarine cables.

The Submarine Cables Market refers to the market for the installation, maintenance, and repair of submarine cables that are used for telecommunication, data transmission, and power transmission purposes. Submarine cables are fiber-optic cables that are laid on the seabed between continents and countries, enabling high-speed data transmission and communication between different regions.

The market is driven by the increasing demand for high-speed and reliable data transmission across the globe, the growing demand for internet and cloud-based services, and the increasing adoption of renewable energy sources such as offshore wind farms. The submarine cables market is also driven by the increasing investment by governments and telecommunication companies in laying new submarine cables to improve connectivity and expand their network coverage.

The market includes a range of products and services such as cable installation, maintenance, and repair, as well as submarine cable equipment such as repeaters, amplifiers, and branching units. The market is also segmented by type of cable, including fiber-optic cables and power cables.

The submarine cables market is expected to continue to grow in the coming years, driven by the increasing demand for high-speed and reliable data transmission and the expansion of telecommunication networks to remote areas.

Competitive Landscape:
Key manufacturers of submarine cables are increasing their production capacities to meet growing demand from commercial customers. Submarine cable providers are focused on offering advanced products and services in the submarine cable market.

For instance,

In June 2020, Corning Incorporated announced that Innolux Corporation is using its large platform cutting tool and complete automation system for its high-end auto display panel manufacturing.

Leading Key Players:

ABB
Alcatel Submarine Networks
Corning Incorporated
Huawei Marine Networks Co., Limited
Hydro Group plc
JDR Cable Systems Ltd.
J-Power Systems Corporation
NEC Corporation
Nexans S.A.
NKT Cables Group GmbH
TE Connectivity Corporation
Prysmian Group
ZTT

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Submarine Cables Market Segmentation:

By Solution:

Product
- MVAC Electrical Cables
- HVAC Electrical Cables
- HVDC Electrical Cables
- Loose Tube Type Fiber Optic Cables
- Tight Buffered Type Fiber Optic Cables
- Metal Tube Type Fiber Optic Cables
- Hybrid/Composite Cables
- Umbilical Cables
Service
- Consultation and Advisory Services
- Commissioning and Deployment Services
- Maintenance and Testing Services
- Upgrade Services

By Filling Type:

Oil/Fluid Filled Cables
Solid Filled Cables

By End Use:

Oil and Gas
Renewable Energy
Telecommunications
Defense

By Region:

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

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Contact Tracing Application Market: Projected Surge to US$ 199.5 Million by 2033, Reflecting 3.4% CAGR

The contact tracing application market is expected to generate US$ 142.8 million in sales in 2023, according to Future Market Insights’ recently released research report. By 2033, the market may potentially exceed a worth of US$ 199.5 million. Market participants could estimate a CAGR of 3.4% over the forecast period.

Contact tracing technology is able to stop the spread of an infectious virus or disease by proactively identifying those who are more vulnerable than others due to potential exposure, warning them, and isolating them if required. It is a tried-and-tested strategy, and using smartphones could help to make it even more beneficial.

The World Health Organization (WHO) and other international public health organizations are progressively using multifaceted strategies to manage and contain the COVID-19 epidemic. As a result, businesses are increasingly adopting digital technologies, which are extremely important in a variety of industries, including healthcare and information dissemination. As a result, the market for contact tracing applications is expanding.

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The main driver influencing the growth of the contact tracing application market is the countries’ growing digitalization, particularly those in emerging nations. The market has been proliferating rapidly since 2020 as a result of the significant increase in the implementation of this technology to stop the COVID-19 pandemic.

The government’s intensified efforts to combat social isolation have further fueled market expansion. The increasing use of decentralized data-gathering methods and manufacturers’ greater attention to GPS, Bluetooth, and ultrasonic technology improvements are likely to enhance demand for contact tracing applications.

Given the increasing demand for contact tracing applications and the recent COVID-19 pandemic, Europe dominates the global contact tracing application market. 20 nations have introduced smartphone applications to track and contain the COVID-19 pandemic, making Europe the region with the maximum demand for contact tracking tools.

Key Takeaways from the Contact Tracing Application Market Report:

The market in Europe is anticipated to rise, exhibiting a CAGR of 3.4% through 2033.
North America is expected to develop at a 2.7% CAGR during the forecast period.
With a CAGR of 4.4% over the forecast period, East Asia is predicted to develop rapidly in the market.
The market in South Asia & Pacific is expected to proliferate, registering a CAGR of 3.9% over the forecast period.

Competitive Landscape:

Key players in the contact tracing application market are Oracle Corporation, SAP SE, Siemens AG, ServiceNow, Apple Inc., Salesforce.com Inc., T-Systems, IBM Corporation, Microsoft Corporation, and others.

Manufacturers are actively developing and producing contact-tracing applications to meet the growing demand for efficient and reliable contact-tracing solutions. These applications employ advanced technologies, such as Bluetooth and GPS, to track and identify potential exposure to COVID-19. Additionally, manufacturers are collaborating with public health authorities to ensure seamless integration with existing contact tracing efforts.

Recent Development:

In April 2020, Apple and Google collaborated with regard to COVID-19 contact tracing technology. Both businesses have made APIs available, enabling the use of public health agency apps on Android and iOS devices. These authorised applications are available for download from the relevant app stores.
In April 2020, to monitor infections in Germany, SAP, and Deutsche Telecom developed a contact tracing tool. A municipal health department in southern Germany is reportedly adopting a cloud-based Web tool called Corona Warn App built by SAP to automate and expedite contact tracing if a COVID-19 case is confirmed.

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Contact Tracing Application Market Segmentation

By Connectivity:

Bluetooth
GPS
Both

By Operating System:

Android
iOS

By Regional Outlook:

North America (USA, Canada)
Latin America (Mexico, Brazil, Rest of LATAM)
Europe (Germany, United Kingdom, France, Italy, Spain, BENELUX, Russia, Rest of Europe)
East Asia (China, Japan, South Korea)
South Asia & Pacific (India, Thailand, Malaysia, Indonesia, Oceania, Rest of South Asia & Pacific)
Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)

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Mexico Sustainable Tourism Market Grows Steadily, Aiming for US$ 124.65 Million by 2033 | FMI

According to estimates, the value of the sustainable tourism sector in Mexico will reach US$ 34.22 million by 2023. The analysis projects that sales would rise at a robust 13.8% CAGR. Three to four percent of the global sustainable tourism sector is made up of businesses from Mexico.

According to the market survey reports, Mexico’s sustainable tourism sector currently generates between 3% and 4% of the global sustainable tourism market’s overall revenue. This demonstrates the nation’s expanding relevance and room for growth in sustainable tourism in the coming days. In the market report, some significant revelations illuminate how Mexico’s sustainable tourism industry is set to expand in the future years.

Mexico’s rich cultural legacy, beautiful natural scenery, and different ecosystems all provide a strong basis for sustainable tourism growth. It now hopes to gain from its dedication to sustainable practices as authorities are now focusing more on the importance of traveling responsibly and sustainably. Mexico’s dedication to sustainable practices is anticipated to position it as an appealing alternative as customers are looking for locations that reflect their beliefs.

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The Mexican government is now collaborating with organizations from the commercial sector to create market eco-friendly travel destinations and implement eco-friendly principles. Other initiatives like improving infrastructure to facilitate ethical travel are also anticipated to draw more environmentally concerned tourists looking for genuine experiences successfully.

Key Takeaways from the Mexico Sustainable Tourism Market Study Report

The overall market is projected to witness an absolute dollar growth of nearly US$ 90 million over the next ten years until 2033.
Eco-lodges, community-based tourism initiatives, and protected natural areas focus on developing ecologically and socially responsible travel experiences in Mexico.
The Mexican federal government unveiled its ‘National Strategy for Sustainable Tourism’ in 2021. All facets of the tourist business, including travel, lodging, and leisure, were aimed at encouraging the adoption of sustainable tourism practices.

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Competitive Landscape for the Mexico Sustainable Tourism Market Players

Frommer’s, EcoColors, Intrepid, Project Expedition, Discover Corps, Titan Travels, Indus Travels, Global Basecamps, and Exodus Travels, among others, are some leading players in Mexico. Mexico supports further competition where this industry can help the local people by building partnerships promoting conservation, cultural preservation, and economic growth.

Many new organizations have come to satisfy the rising demand for ecologically and socially responsible travel experiences in Mexico, particularly after 2021. More partnerships among tourist industry participants, regional communities, and environmental groups could be crucial in fostering the development of the existing market players.

Recent Developments in the Mexico Sustainable Tourism Market

The ‘Indigenous Tourism Program’ initiative by the Mexican government started recently in the year 2023, by which indigenous communities around Mexico are encouraged to engage in community-based tourism. The program offers funding assistance to indigenous communities so they may create and promote sustainable tourism initiatives.

The first carbon-neutral hotel chain in Mexico got established by the Mexican hotel company Habita Hotels in 2022. The business intends to become carbon neutral in the coming years by investing in renewable energy projects and planting trees, among other strategies.

Segments Covered in Mexico Sustainable Tourism Industry Survey Report

By Tourism Type:

Eco-Tourism
Green Tourism
Soft Tourism
Community Tourism

By Booking Channel:

Phone Booking
Online Booking
In-Person Booking

By Tourism Type:

Domestic
International

By Tourist Type:

Independent Traveler
Tour Group
Package Traveler

By Consumer Orientation:

Men
Women

By Age Group:

15 to 25 Years
26 to 35 Years
36 to 45 Years
46 to 55 Years
66 to 75 Years

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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Website: https://www.futuremarketinsights.com
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Variable Data Printing Market Targets US$ 31.2 Billion by 2030 with 12.9% CAGR Surge

The variable data printing market was US$ 10.5 billion. The market for variable data printing is anticipated to reach US$ 31.2 Billion by 2030, expanding at a 12.9% CAGR from 2022 to 2030.

The market for variable data printing (VDP) is being driven by the growth of the retail sector and rising costs for labelling and tagging all products. According to Future Market Insights, the healthcare and food and beverage industries will continue to play a significant role in the expanding use of variable data printing as consumers demand clear, comprehensive labelling.

Since end customers frequently want flexibility when printing labels, the market’s product labelling segment is expected to grow dramatically during the time of forecasting. Variable data printing is a popular option since it allows for the customization of artwork, data, and content without impairing the bulk printing process. The market for printing with variable data is expected to grow at a CAGR of 12% from 2020 to 2030.

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Key Takeaways from the Variable Data Printing Market Report:

North America is expected to hold a significant share in the global variable data printing market as the adoption of RFID labels and creative labelling increases
Accelerated adoption of variable data printing in the food & beverage industry will propel the growth of variable data printing by 13% during the forecast period
Barcodes and QR code printing are expected to hold a significant share of 36% during the forecast period in the globally market as digital wallets become the new normal for making payments
Retail and CPG segment will exhibit a CAGR of 18.5% between 2020 and 2030 in the South Asia & Pacific variable data printing market creating potential growth opportunities for vendors

COVID-19 Pandemic Impact Analysis:
With the supply of only essential goods and restricted movement, the lockdown has had a massive impact on the global printing industry, bringing it to a near-standstill. Only a handful of companies have been able to continue operations with 20-25% staff, slowing operations and creating uncertainty in business.

While manufacturing companies have been allowed to run at 50 per cent capacity, most label printing companies are running at as low as 15-20% production capacity. In the past 5 years, the market for variable data printing has grown by almost 10% globally. However, the COVID-19 outbreak is expected to cause a shift in these statistics as demand for non-essential items such as clothing and cosmetics is projected to drop.

On the other hand, analysts project that the demand for variable data printing will remain high in the pharmaceuticals and food & beverages sectors in Q2 2020, a trend that will continue through Q3 and Q4 2020. The indispensable need for products these sectors manufacture, impeccable logistics built by the e-commerce industry to make them available to end users, and smart tracking with RFID labelling could offset the losses the market is expected to suffer.

Leading Key Players:

HP Inc.
Canon, Inc.
Xerox Corporation
RR Donnelley & Sons Company
3M Company
Mondi PLC
Avery Dennison Corporation
Quad/Graphics, Inc.
Cenveo, Inc.
Ws Packaging Group, Inc.

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Variable Data Printing Market Segmentation:

By Component:

Variable Data Printing (VDP) Machine
Variable Data Printing (VDP) Software
Services
Personalized Printing Services
Support Services

By Application:

Barcodes/QR Code Labels Printing
Advertising Stickers Printing
Plastic Cards/PVC Printing
Product Labels Printing
Others

By Industry:

Retail and CPG
Pharmaceuticals
Electronics and Electricals
Food and Beverages
Logistics
Others

By Region:

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

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Cooling Tower Rental Market worth US$ 2,100 million by 2033

The global cooling tower rental market reached US$ 284.6 Million by the end of the year 2022. The market demonstrated a 10.6% CAGR from 2018 to 2022 but is predicted to register a 7.7% CAGR between 2023 and 2033. The overall market is anticipated to flourish from US$ 996 million in 2023 to US$ 2,100 million by the end of 2033.

As a whole, with the expanding industrial and manufacturing sector and the demand for cooling tower rental services is expanding steadily around the world. The market report also explores how the rising need for ventilation and air conditioning services has played a crucial role in the market dynamics.

In many industry verticals, it is common to deploy temporary cooling solutions to avoid the expense of running and maintaining refrigerants or chillers. The expanding worldwide food and beverage industry is what is driving the need for cooling tower rental services at local levels

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Key Takeaways from the Cooling Tower Rental Market Study Report

The cooling tower leasing business in the United States is probably going to be driven by the petroleum industry at a 7.7% CAGR through 2033.
The demand for cooling tower rental services remains lucrative in Europe with the United Kingdom poised to witness a growth rate of 7.4% through 2033.
Over the forecasted years, the cooling tower leasing industry in China is anticipated by FMI to expand at a CAGR of 7.6%.
South Korea and Japan are the other two prominent regional markets in the Asia Pacific with market players competing at the global level. As per the FMI analysis reports these two markets are projected to register 7.6% and 7.3% CAGRs respectively through 2033.
Based on the design of cooling towers, the mechanical draft segment is projected to advance at a CAGR of 7.2% over the next ten years.

Competitive Landscape for the Cooling Tower Rental Market Players

The main players operating in the cooling tower rental services market are Aggreko, Baltimore Aircoil Australia, Carrier Rental Systems, Caterpillar, and Cooling Tower Depot. Market competition may heighten in the coming days because permanent cooling tower suppliers are strengthening their sales with the provision of year-round service facilities.

Many cooling tower businesses have advanced in the recent past, with an emphasis on higher energy efficiency, environmental sustainability, and sophisticated cooling technologies. In fact, new competitors operating in the cooling tower leasing business, are emerging fast in the emerging economies that could fragment the market further.

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Recent Developments by the Cooling Tower Rental Service Providers

The USA Department of Defense’s July 2019 deal with San Diego Gas and Electric Company for the replacement of cooling towers marks a significant market development in the energy and defense sectors. In addition to replacing cooling towers, the $13.5 million contract also called for the installation of some other systems as well.

Linde GmbH choose Hamon & CIE for the design and building of an 18-cell cooling tower for the Russian Amur Gas Chemical Complex in November 2020. The project was a unique development for using cutting-edge technology and Fiberglass-reinforced plastic (FRP) materials to satisfy the complex’s unique requirements. Its automated louver system mechanism enables the tower to function consistently even at extremely low temperatures by controlling precise airflow and ventilation.

Hard Disk Drive Market on Verge of US$ 126,967 Million by 2033, Fueled by 12% CAGR

The hard disk drive market exhibited remarkable growth in 2022, with a valuation of approximately US$ 36,500 million. This robust performance is projected to continue over the next decade, as the market is anticipated to expand at a commendable CAGR of 12%. By the year 2033, it is expected to soar to a staggering valuation of US$ 126,967 million.

This impressive upward trajectory can be attributed to various factors, including the ever-increasing demand for data storage solutions in an increasingly digital world, coupled with advancements in hard disk drive technology. As organizations and individuals alike continue to generate and store vast amounts of data, the hard disk drive market is set to play a pivotal role in meeting these storage needs and driving substantial industry growth.

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As data storage capacities of hard disk drives continue to increase, leading manufacturers such as Toshiba are frequently rolling out hard disk drive storage technology upgrades. Consequently, magnetic storage remains a highly preferred option for long-term high-capacity data backup and archiving, which would further push hard disk drive sales.

Key Takeaways from the Hard Disk Drive Market Report:

Network-attached Storage (NAS) hard disk drives that currently hold a market share of over 2/5^th, would remain top selling in the global market for HDD. With the highest estimated incremental opportunity to be attained through 2029, NAS HDDs will continue to see double-digit growth throughout the projection.
Sales of hard disk drives with storage capacities of up to 1 TB and above will collectively account for three-fourths of total HDD sales. Low storage capacity, though relatively less preferred, continues to witness sustained traction.
USB port hard disk drives that currently make up for over a third of total sales will see steady adoption shortly. Whereas, plug-in power sources of HDDs are set to gain popularity.
Geographic expansion and collaborations with other hard disk drive providers would be the preferred developmental strategies of key players in the HDD market.

Offline Functionality of HDD Storage Technology Remains USP:
Owing to persistent ransomware attacks on networks of various organizations, customers have started procuring efficient magnetic storage technologies. The presence of an air gap acts as a security measure that isolates hard disk drives and prevents them from establishing external network connections.

This prevents the information stored on these tapes from falling prey to cyber-attacks, as they are not connected to the enterprise network, at least when switched off. Hard disk drive storage technology also trumps cloud infrastructure in this condition. Offline functionality of hard disk drive storage technology will thus bolster the growth of the global hard disk drive market during the forecast period.

Insufficient Storage Capacities Continue to Limit Market Growth:

Manufacturers in the hard disk drive market are focusing on enhancing data storage capacities to efficiently cater to massive digital data volumes. The relatively low availability of digital storage capacities will however continue to create a sizeable digital gap throughout the forecast period. The insatiable demand for enhanced data storage capacities in hard disk drives would thus restrict the market growth to a large extent.

Leading Key Players:

Western Digital Corporation
Seagate Technology LLC
Toshiba Corporation
Transcend
ADATA Technology Co. Ltd.
Hewlett Packard Enterprise Development LP
Buffalo Americas Inc.

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Hard Disk Drive Market Segmentation:

By Drive Type:

Portable HDDs
Desktop HDDs
Network-attached Storage HDDs

By Storage Capacity:

Less than 250GB
250GB – 1TB
Above 1TB

By Drive Interface:

USB 3.0
USB 2.0
USB 3.1 Gen1
USB 3.1 Gen2
Ethernet
Others

By Power Source:

Small Facility
AC Adapter
USB Port
eSATA Bus
Plug-in

By Region:

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

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Malaysia Tourism Market Vision: Achieving US$ 9,350.3 Million Revenue by 2033 | FMI

According to Future Market Insights’ most recent research, Malaysia tourism market would generate US$ 2,853.9 million by the end of 2023. In the long run, it is expected that tourism in Malaysia will generate about US$ 9,350.3 million in 2033.

Tourism is growing every year as a result of greater lodging and transportation options. This is the specific cause of the market expansion in Malaysia. The Malaysian government’s persistent efforts to court international elites from the high-income group are another element promoting tourism growth.

The project of developing 15 projects including Malaysia Eye, International Fashion Street, Sunset Beach, and Cruse Shopping Gallery is creating curiosity among tourists and is therefore leading to a robust development in the growth of Malaysian tourism. Medical tourism is one of the important factors that is boosting the tourism industry in Malaysia.

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Liberalization of some government controlled sectors, development of more tourism destinations, and increased involvement of the private sector are some of the key measure that will improve Malaysia tourism performance in the future. The Malaysian government is making its tourism industry more attractive. More skilled personnel will be required to manage government function in future.

Competitive Landscape

There are many suppliers who are assuring a safe and affordable travel experience, which has made travel and tourism possible and at ease. Top tour operators offer fascinating and distinctive travel packages around Europe, America, Asia, and the Middle East, providing smooth and simplified travel experience for both straightforward and difficult excursions.

Leading travel agencies like Agoda and booking.com have also managed to gain a major market share by making it convenient for the travelers to safely book at the best prices

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Malaysia Tourism Market by Category

By Direct Suppliers:

Airlines
Hotel Companies
Car Rental
Train
Tour Operators
Government Bodies

By Indirect Suppliers:

OTA (Online Travel Agency)
Traditional Travel Agencies
TMC’s( Travel Management Companies)
Corporate Buyers
Aggregators

By Number of Bookings:

Age
- Under 15
- 16-25
- 26-35
- 36-45
- 46-55
- Over 55

By Activity Type:

Cultural & Heritage
Medical
Eco/sustainable
Sports
Wellness
Other

By Demographic:

Male
Female
Kid

By Tourism Type:

Domestic
International

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tour Type:

Individual Travel
Professional Groups
Group travels

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:

Nandini Singh Sawlani

Hawaii Tourism Market Charts Course for US$ 28,485.0 Million Revenue by 2033, Envisions 5% CAGR Growth | FMI

Hawaii Tourism Market

The Hawaii tourism market Is Anticipated To Create Robust Growth Over The Forecast Period. As Per The Findings Of Future Market Insights, The Global Hawaii Tourism Revenue Is Predicted To Be US$ 17,487.3 Million By The End Of 2023. In The Long Term, Tourism Is Estimated To Reach Around US$ 28,485.0 Million In 2033.

Hawaii consists of six major islands which are significantly dependent on airlines. Due to this reason, there exists a high degree of competition among the individual island markets. This led to an increasing average fare so far.

According to the historical analysis, it was estimated that Hawaii’s tourism market witnessed 6.8 Million visitors in the year 2021. Most of the outbound visitors traveled via air or cruise making them a popular mode of transportation. Ever since the past years, the industry is experiencing an upward trend. Tourism increased at a prolific CAGR since 2009 compared to the revenue of passengers flown.

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The overseas airline spending and capacity, out-of-state cruise spending and capacity, etc., affect the direct suppliers, thereby affecting the tourism market. With a push of tourist boards, rapid initiatives taken by the government, and variations in industrial tour type the market is expected to grow beyond limits and become one of the integral tourist attractions in the world.

During the flu season, Hawaii’s tourism got severely affected. Hawaii’s cruise industry continued to be impacted during those times. According to the reports, there were no cruise ship activities in 2021.

During the current period, the tourism market witnessed an overall reduction in the number of visitors which further led to big changes. Furthermore, it is estimated that the industry will witness the historical arrival of visitors and spending in nominal terms. As per the analysis, the recovery rate in the later periods i.e., 2023-onwards is expected to accelerate at a much faster pace.

Key Takeaways

Hawaii experiences all types of climates depending on factors such as altitude, surroundings, etc. The lively, tropical weather attracts a huge number of tourists year around. Moreover, when it gets cold during the winter season, this place becomes an increasingly popular attraction.
Attributing to the recent climate crisis is leading to extreme weather events. Due to the fast melting of ice caps and severe heat conditions, Hawaii is constantly witnessing frequent storms and comparatively higher temperatures which is indeed possessing a threat to the tourism industry.

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With the rapid advancements in technology, more and more infrastructural facilities are being developed in Hawaii. The excellent infrastructure plays a key role in the tourism industry as Hawaii provides good quality accommodation, and ease of connectivity to the visitors, thereby making it a popular attraction.
The government has a significant contribution to the prosperity of Hawaii’s tourism market by launching projects and policies to create a feasible wastewater system and developing more bridges to improve connectivity. These factors act as a major driver for tourism.
Over the few years, Hawaii has significantly evolved to become a diverse and fascinating place with prominent cultures across the world. Tourism is the highest contributor to the local economy of this place. Just like the rest of the world, the global lockdowns took a toll on this tourist destination as well, thus affecting the livelihood of a major section of the population.
The industry witnessed severely limited tourism from late march 2020 to mid-October 2020. Despite this, in the current scenario, the industry is growing remarkably and is expecting a greater number of international arrivals by the end of 2030.

Competitive Landscape

Numerous other travel agencies across the globe are utilizing extensive marketing techniques in order to attract tourists. The middle-aged groups often prefer no package travel in order to reduce the expenditure incurred without compromising the quality of travel facilities.

Additionally, the Hawaiian tourism authority also provides relevant information including accommodation, cruise, airlines, and attractions. Thereby, aiding the successful tour and ease in planning. With the increased use of social media platforms among all age groups, these agencies also target tourists through aggressive marketing and campaigns on these platforms.

Hawaii Tourism Market by Category

By Direct Suppliers:

Airlines
Hotel Companies
Car Rental
Train
Tour Operators
Government Bodies

By Indirect Suppliers:

OTA (Online Travel Agency)
Traditional Travel Agencies
TMC’s( Travel Management Companies)
Corporate Buyers
Aggregators

By Number of Bookings:

Age
- Under 15
- 16-25
- 26-35
- 36-45
- 46-55
- Over 55

By Activity Type:

Cultural & Heritage
Medical
Eco/sustainable
Sports
Wellness
Other

By Demographic:

Male
Female
Kid

By Tourism Type:

Domestic
International

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tour Type:

Individual Travel
Professional Groups
Group travels

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:

Nandini Singh Sawlani