Market Research Blog – Page 3319 – New Product Development

Magnesium Sulfate Market Soars: Agriculture, Pharma & Industry Drive US$ 1 Billion Market to US$ 1.68 Billion by 2033

The magnesium sulfate industry is anticipated to expand its roots at an average CAGR of 5.7% between 2023 and 2033. The market is anticipated to cross a market share of US$ 1.68 billion by 2033 while it is likely to be valued at US$ 1.0 billion in 2023.

Magnesium sulfate, also known as Epsom salt, is a chemical compound composed of magnesium, sulfur, and oxygen. It is widely used in various industries and applications due to its diverse properties and benefits. The global magnesium sulfate market has experienced steady growth over the years, driven by factors such as increasing demand from agriculture, pharmaceuticals, and industrial sectors.

The magnesium sulfate market is distributed across regions, with Asia-Pacific, North America, and Europe being the key markets. Asia-Pacific holds a significant share due to the presence of emerging economies, increasing agricultural activities, and growing pharmaceutical sectors. North America and Europe are driven by technological advancements, research and development initiatives, and rising awareness of organic farming.

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The applications of magnesium sulfate in the food and beverage sector along with the increased focus on reduced plastic consumption are expected to gain momentum in the market.
Expanding pharmaceutical operations, and research-based activities are likely to contribute a positive share of the magnesium sulfate market. Furthermore, the higher agricultural applications to increase the sulfate and magnesium content in soil have pushed the demand for agriculture-grade magnesium chloride.
The application of heptahydrate magnesium sulfate as a cathartic agent. Alongside this, its increased usage as a brewing salt in beer-making procedures has increased the demand for magnesium sulfate.
Its medicinal benefits for pregnant women as it controls seizures along with its benefits against constipation increase the sales of pharma-grade magnesium sulfate.
One of the most important uses of magnesium sulfate is the formation of intravenous magnesium which is further used as a medication for eclampsia.

Key Points

The United States thrives at a CAGR of 3.5% between 2023 and 2033. The regional market is anticipated to reach a revenue of US$ 100.5 million by 2033. The growth is attributed to the expanding food and beverages sector. The market is likely to hold a value of US$ US$ 33.3 million.
China on the other hand holds the utmost opportunity as it thrives at a leading CAGR of 4.1% between 2023 and 2033. The growth is attributed to the higher medicinal usage against different diseases. The region is expected to witness a market revenue of US$ 470.8 million by 2033.
By product type, the Heptahtdrate segment thrives at a leading CAGR of 5.8% between 2023 and 2033. The growth is attributed to its role as a laxative and cathartic agent in different chemical operations.
By grade, the agriculture segment stays on top as it thrives on a CAGR of 5.9% during the forecast period. The growth is attributed to degrading soil quality, higher crop demand, and increased pollution.

Competitive Landscape

The competitors are focusing on producing application-specific products while saturating them according to the grade. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.

Recent Market Developments

Giles Chemical has introduced its Epsom salt for varied uses such as agriculture, United States Pharmacopeia (USP) grade, and technical grade. The company claims to apply quality, innovation, and focus to make these grades application specific.
Mag Products India Private Limited has launched its Mag Shakti Magnesium Supphate for agricultural usage.

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Top Key Players in the Magnesium Sulfate Industry

K+S Aktiengesellschaft
Giles Chemical
Laizhou City Laiyu Chemical Co. Ltd
Laizhou Guangcheng Chemical Co., Ltd
Mani Agro Chem Pvt. Ltd.
PQ Corporation
ZIBO JINXING CHEMICAL CO., LTD.
Mag Products India Private Limited
Weifang Huakang Magnesium Sulfate Co., Ltd.
Rech Chemical Co., Ltd.

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Magnesium Carbonate Minerals Market Boom: Pharmaceuticals & Construction Sectors Drive Growth

Magnesium carbonate minerals are witnessing an upsurge in demand, owing to their application in multiple end-use sectors such as pharmaceuticals & personal care and construction. Magnesium carbonate minerals are used to produce raw materials that serve as refractory materials for steel, metallurgy, and ceramic industries. End users such as the chemical industry also use magnesium carbonate minerals to produce raw materials for plastic, polymers, paints, and fertilizers.

Magnesite, in meagre amounts, is also used as a gem and lapidary material. Moreover, there is an expected revamp in pharmaceutical and personal care industries, owing to the current Covid-19 pandemic, which, in turn, is anticipated to drive the magnesium carbonate minerals market in the near term. Refractory bricks & kilns and building & flooring materials are also paving way for robust sales.

The global magnesium carbonate minerals market is expected to surpass US$ 689.0 Million in 2022, and is projected to expand at a CAGR of 5.1% over the forecast period (2022-2030).

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Key Takeaways from Global Magnesium Carbonate Minerals Market Study

Surging demand from pharmaceutical and personal care industries is expected to drive the market, owing to its application in the production of OTC drugs.
East Asia is expected to be prominent in terms of production, and North America and Europe will lead in terms of consumption over the decade ahead. Countries such as Belgium, the U.S., the Netherlands, Spain, Germany, France, and Italy are prime consumers of magnesium carbonate minerals.
Unique fire retardant properties of hydromagnesite are enabling its broader adoption as a flame retardant or fire retardant additive for polymers.
Flourishing chemical industries across the world are offering a conducive ground for magnesium carbonate minerals market players. Increasing demand from pulp & paper and paints & coatings industries are also offering white spaces.
Extensive use of magnesium carbonate in the production of magnesium oxide, which is used in the steel and cement industries as a refractory material, will augment market growth. Rapid growth in these industries is estimated to boost the demand for magnesium oxide.

“Countries all over the world are likely to enhance their medical, pharmaceutical, and personal care sectors as a consequence of the ongoing COVID-19 pandemic, which is expected to bring about multiple changes in these sectors. Magnesium carbonate minerals play an important role – directly and indirectly – in the pharmaceutical sector. Thus, over the coming years, the market is expected to witness demand growth.”

Magnesium Carbonate Minerals Market: Competitive Landscape

Players such as Konoshima Chemical Co., Ltd., Naikai Salt Industries Co., Ltd., Hebei Meishen Technology Co., Ltd, and Kyowa Chemical Industry Co. Ltd. have been strategically expanding their market presence through expansions and acquisitions in the recent past. These players are increasing their market presence gradually, rather than deploying aggressive growth strategies. R&D, coupled with expansion of production capacity, remains the key strategy followed by magnesium carbonate mineral manufacturers to enhance productivity and capture potential market opportunities.

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East Asia to Offer Opportunities of Growth and Profitability

East Asia is anticipated to hold a prominent share in the global magnesium carbonate minerals market, owing to the increasing demand from pharmaceutical and personal care industries, along with refractories. Manufacturers in East Asia are facing stiff competition, given the higher concentration of players in the region. Moreover, magnesium carbonate minerals have multiple end uses, hence, the market is likely to flourish in the years ahead. Easy availability of raw materials and cheap labour is poised to propel the magnesium carbonate minerals market in East Asia.

On the flip side, chemical and automotive industries in East Asia are under extreme pressure due to the coronavirus (COVID-19) pandemic. Uncertainty in the global economic order and capital markets is shrinking the profit pools of industrial executives. Chemical and automotive industries in East Asia are undergoing manufacturing standstills in order to avoid workers getting affected by the coronavirus, as well as address the demand drop from businesses and consumers during nationwide lockdowns. These factors are affecting the growth of the magnesium carbonate minerals market.

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Chatbot Market Propels with 21.6% CAGR, US$ 4.9 Billion Surge by 2033

The chatbot market is poised for remarkable growth in the coming decade, with an anticipated impressive (CAGR) of 21.6% from 2023 to 2033. This dynamic expansion is predicted to catapult the market from its 2023 valuation of US$ 696.4 million to a staggering US$ 4.9 billion by the year 2033

This exponential surge in the chatbot market is indicative of the growing demand for these AI-powered conversational agents across various industries. Chatbots have proven their worth in enhancing customer experiences, streamlining business processes, and providing efficient support, making them a vital component of modern digital interaction. As technology continues to advance and businesses recognize the value of chatbots, the market’s trajectory appears set to reach new heights over the next decade.

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Various sectors will leverage a wide range of chatbot solutions and services to assist digital transformation initiatives that solve mission-critical procedures, improve operations, and distinguish customer viewing experiences.

Reduced operating expenses, enhanced customer experiences, problem resolution, more visibility into processes and operations, and improved real-time decision-making are all predicted to boost chatbot market adoption trends.

Lack of understanding and issues related to management change may have an impact on the growth of the chatbot market to some extent.

Though chatbot solutions are becoming increasingly popular in a range of industries, challenges with successful deployment and a lack of awareness of the benefits provided by AI-powered chatbot solutions may limit their acceptability in developing regions such as Latin America and Africa.

Furthermore, while large organizations are at the forefront of employing chatbot solutions, SMEs have limited adoption of the same due to the expenses associated with their upkeep and a lack of experienced personnel. However, as SMEs become more aware of chatbot solutions, their use is expected to expand in the coming years.

As per the global chatbot market study, self-learning bots with data-driven behavior are powered by NLP technology and self-learning capabilities (supervised machine learning) and can provide more human-like and natural communication; they also learn from their own mistakes.

The programs aimed at developing advanced chatbots that can intelligently respond to user questions are still in the research phase. These approaches, together with the rising need to provide personalized experiences, are expected to boost demand for chatbots in the coming years.

Key Takeaways from the Chatbot Market Report:

The US chatbot market is expected to rise rapidly at a high CAGR of 26.8% throughout the forecast period.
During the projected period, APAC is expected to grow at the fastest rate. APAC countries are technologically advanced and provide significant investment and income prospects.
In terms of market size, the standalone segment dominated the chatbot market in 2020, accounting for 56.9% of total revenue.
The mobile segment is expected to grow at a CAGR of 24.1% throughout the forecast period.

Competitive Landscape:
Kore.ai introduced a Virtual Assistant Platform in Japan in February 2021. The Kore virtual assistant platform was published in Japanese to better address the demands of the Japanese market and to expedite the adoption of virtual assistants. This will aid enterprise customers in shortening time-to-market and improving customer experience in their local tongue.

Saykara, Inc., a like-minded business focusing on building a mobile AI assistant to automate clinical paperwork for physicians, was acquired by Nuance in February 2021. Nuance’s continued market expansion and technological leadership in conversational AI and ambient clinical intelligence (ACI) solutions that minimize clinician burnout, improve patient experiences, and improve overall health system financial integrity are highlighted by this purchase.

Leading Key Players:

Meta
Alphabet
Haptik Inc.
Helpshift
Kasisto Inc

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Chatbot Market Segmentation:

By Platform:

Mobile Based
Standalone

By Enterprise Size:

Small & Medium Enterprise
Large Enterprise

By Region:

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

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In-Counter Barcode Scanners Market: Surpassing US$ 4,587.9 Million Valuation, Forecasts a Remarkable 7.7% CAGR Through 2032

The in-counter barcode scanners market is anticipated to reach US$ 2,194.5 Million in 2022. The demand for in-counter barcode scanners is expected to grow at a CAGR of 7.7% between 2022 and 2032, reaching a total of about US$ 4,587.9 Million by 2032. This is due to factors such as the increasing penetration of e-commerce, the simplification of payment routes, the streamlining of warehouse inventory, and the growing presence in public distribution systems.

Due to the increase in the number of e-retailers in the market and the shift towards the digitalization of public distribution systems, the In-counter barcode scanners market is growing rapidly. The In-counter barcode scanners market is rapidly growing in retail and warehousing industries.

The technological advantages and cutting-edge features of the in-counter barcode scanners are making them more popular in various industries. Also, the availability of innovative and customized products such as mobile computing devices is fueling the growth of the in-counter barcode scanners market.

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The advent of barcode technology has reduced the hurdles in the tracking and supply for the retailers in the market. In-counter barcode scanners technology has been consistently improved and made more efficient and as a result, now a days, most of the products come in the market has barcodes printed on it, which are scanned through barcode scanners.

Today, in-counter barcode scanners have become one of the best solution for recording and managing product information without making any major manual effort. In-counter barcode scanners are also used to make quick check-outs at cash counter, for easy and accurate account keeping and for better inventory control for manufacturers and retailers.

In-counter Barcode Scanners: Drivers and Challenges

Drivers:

The emerging technologies in the public distribution system are the primary growth drivers of the In-counter barcode scanners market. Also, the Increasing requirement of Industries for remote solutions are also playing an important role in fueling In-counter barcode scanners market. Moreover, the growing number of multinational logistics service provides is one of the key factor which is driving the growth of In-counter barcode scanners market.

The In-counter barcode scanners helps to increase effectiveness and efficiency of operations by reducing error and by helping users to keep track of inventory which ultimately saves the time, and due to this factor, the demand for In-counter Barcode Scanners is increasing.

Challenges:

The high cost of In-counter barcode scanners is one of the major challenges that is restraining the growth of In-counter barcode scanners market. Moreover, these in-counter barcode scanners are sometimes inconvenient to use as they fixed and it is difficult to move them from one place to another.

In-counter Barcode Scanners: Regional Overview

On geographic basis, North America will be the largest market for In-counter barcode scanners market due to rapid adoption of advanced technologies in the public distribution system.

APAC market will be the fastest growing In-counter barcode scanners market due to the presence of various key players in countries like China, India, Japan, and South Korea and rapid increase in number of e-retailers in this region. Latin America also offers potential growth opportunities in In-counter barcode scanners market due the rise in digital technologies in this region.

Leading Key Players:

Honeywell International Inc.
Zebra Technologies Corporation
Cognex Corporation
SATO Holdings Corporation
Toshiba TEC Corporation
Wasp Barcode Technologies
Datalogic S.P.A
Scandit AG

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Key Segments Covered in the In-Counter Barcode Scanners Industry Report

By Vertical:

Retail and Consumer Packaged Goods
Warehousing
Transport and Logistics

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Big Data Security Market: Forecasting a Striking US$ 72,652.6 Million by 2033 with a 13.5% CAGR Surge

The big data security market is forecasted to be worth US$ 20,418.4 million in 2023 and is projected to increase to US$ 72,652.6 million by 2033. Sales of big data security are anticipated to experience substantial growth, with a Compound Annual Growth Rate (CAGR) of 13.5% throughout the forecast period.

Ongoing developments, such as big data integration with networking and security, as well as the incorporation of machine learning and artificial intelligence, are expected to propel the big data security market to new heights. Businesses in all industries are expected to purchase algorithms rather than software and customize them to their specific needs, giving them greater flexibility and security assurance. This may stimulate market growth.

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Big Data security is just a tool used to secure huge amounts of data possessed by large enterprises. Large enterprises having thousands of employees need to secure bulks of personal data about their employees and customers and even need to manage it to analyze and even predict security incidents.

The market for big data security holds a substantial revenue share in the security markets. Also, the market is anticipated to witness a healthy CAGR, as the enterprises continue to expand the size of their company. As the size of the enterprise increases, employees and customers will increase thereby impacting the data volumes generated by the company thereby raising the need to maintain and secure the data.

Global Big Data Security Market: Market Dynamics

Increasing sophistication in the attacking techniques leaving the data vulnerable, in addition to rising volumes of data generated by different enterprises is the key factor driving the market of big data security.

Big Data security is nowadays necessary for all huge enterprises, may they belong to any domain, but it is inevitable for the banking & financial service providers as well as for government and defense departments. These organizations possess the most critical assets and information about the public and hence it is crucial for them to manage and secure it.

Also with the advancing technologies, a large amount of R&D, is in progress in this field, which is expected to drive the growth of the market. Also, cloud solutions for big data security are cost-effective and provide accessibility across the world.

Because of the minimal amount of hardware required, they can be accessed from anywhere, anytime. Due to these reasons cloud technologies, greatly ease the process of securing and managing data, driving the growth of the big data security market.

However, high installation costs, limited data security budgets, and lack of awareness about data security are the primary reasons that can thwart the growth of the Big Data Security market.

Global Big Data Security Market: Regional Outlook

Regionally, the global Big Data Security market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.

The APAC region is expected to be the fastest-growing region in the sandboxing market. The major reason is the rising cyber security attacks in this region.

In the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) and security technologies.

The North American region, followed by Europe, is expected to be the largest revenue-generating region for the Big Data Security market in 2017.

Global Big Data Security Market: Competition Landscape

The key Players in the global Big Data Security market are Oracle Corporation, Microsoft Corporation, Symantec Corporation, IBM Corporation, Amazon Web Services, Hewlett Packard Enterprise, Mcafee, LLC, Check Point Software Technologies Ltd., Imperva, Inc., and Dell Technologies. High Investment in R&D and continuous technological innovations to onset the malicious attacks is the key strategy followed by major market vendors to gain competitive edge.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Recent Developments in the Big Data Security Market

In August 2022, Anaconda and Oracle announced a strategic cloud partnership to enable seamless, secure open-source innovation in the cloud.

In August 2022, Barclays used Microsoft Teams as its preferred collaboration platform around the world to improve connectivity for its employees.

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Big Data Security Market Segmentation:

By Deployment:

Cloud-based
On-Premise

By Verticals:

for BFSI
for Government
for Energy & Utilities
for healthcare
for Manufacturing
for Retail
for Telecom & IT
for Transportation & Logistics
for Other Verticals

By Region:

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

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Industrial Cybersecurity Market Projected 7.8% CAGR Eyes US$ 46.96 Billion Market by 2033

The industrial cybersecurity market is poised for remarkable growth, with a projected steady CAGR of 7.8% during the forecast period. In 2023, the market is expected to reach a substantial revenue of US$ 22.36 billion, reflecting the growing importance of securing critical industrial systems. Looking ahead, the market’s trajectory appears even more promising, as it is anticipated to surpass a substantial value of US$ 46.96 billion by 2033.

This robust growth is indicative of the increasing awareness of the vulnerabilities in industrial networks and the imperative need to protect them against cyber threats. As industries continue to adopt advanced technologies and interconnected systems, the demand for industrial cybersecurity solutions is set to remain on an upward trajectory, ensuring the safeguarding of vital infrastructure and operations.

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Because of too many smart gadgets, customers, enterprises, and communication service providers all interact differently. They have enabled the automation and adaptation of numerous company procedures. The increased use of smartphones throughout the world has led to an increase in the number of networked devices that run on a variety of platforms.

Due to the relative rarity of targeted attacks against automation systems and the excessive reliance on safety measures, industrial company owners and their workers misunderstand the current and impending potential hazards in the industrial control systems environment.

Industrial control systems protect against synthetic assaults. As a result, security products and software solutions are created without considering new dangers or the nature of future attacks, as well as without conducting a thorough analysis and examination of the present threat environment. As a result, real-world threats are underappreciated.

In the industrial sector, modern security technologies are utilized to prevent cyber-attacks, while attackers develop new techniques and processes to circumvent them. Investments in security defense and detection technology aid in the construction of successful defensive plans; yet, human error is one of the most common sources of breaches.

These mistakes occur as a result of employees’ lack of understanding, putting the industrial sector at risk. Advanced cyber-attacks vary in design, but they always target specific network weaknesses and exploit them to get access to company networks. Advanced cyber threats have risen dramatically in recent years, becoming a serious security problem for the industrial sector.

Employee training should be regarded as equally important to properly safeguard industrial facilities from cyber-attacks or cyber threats, in addition to adopting appropriate hardware and software-based security technologies.

North America is expected to have a significant industrial cybersecurity market share. Significant industrial cyber security market players are mostly responsible for the region’s progress. The North American industrial cyber security market is predicted to rise as key companies increase their investment to extend their global footprint.

During the anticipated period, Asia Pacific is expected to increase at the fastest rate. The adoption of cloud-based security software is a priority for major players. In the manufacturing industry, these nations have a large number of SMEs and startups.

Key Takeaways from the Industrial Cybersecurity Market Report:

The hardware solutions from the industrial cyber security market are expected to grow at the fastest CAGR of 7.1% in the component sector.
The discrete industry is expected to grow at a high rate in the end-use sector of the industrial cyber security market, with a CAGR of 7.6%.
The market size for industrial cyber security in the United States is expected to reach US$ 9.7 Billion by 2032, growing at a CAGR of 7.3% during the research period.
UK is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market by 2032, with a CAGR of 7.7% during the research period.
China’s industrial cyber security market is expected to be worth US$ 3.2 Billion by 2032, with a CAGR of 9.1% over the forecast period.
Japan is expected to have a market size for industrial cyber security of US$ 2 Billion by 2032, with a CAGR of 9.2% during the research period.
By 2032, India is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market, with a CAGR of 9.3% during the research period.

Competitive Landscape:

Several business strategies are being implemented by these companies to boost their global expansion and deliver sophisticated security services.
Exablaze, an Australian developer and producer of innovative network devices, was acquired by Cisco System, Inc. in February 2020. This acquisition will help the organizations improve their security network performance.
Broadcom Inc. will introduce BizOps, an improved decision-making platform for sectors, in June 2020. This approach would aid businesses in speeding up decision-making across a variety of commercial and technological fields.
CyberArk Software Ltd. introduced CyberArk, Cloud Entitlements Manager, an artificial intelligence-based solution, in November 2020. The solution was created to improve cloud infrastructure security layers across businesses.

Leading Key Players:

Schneider Electric SE
Rockwell Automation Inc.
CyberArk Software Ltd.
ABB Ltd.
Bayshore Networks Inc.

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Industrial Cybersecurity Market Segmentation:

By Component:

Hardware Solutions
Software Solutions
Services

By Security Layer:

Network Security
Endpoint Security
Application Security
Cloud Security
Wireless Security
Others

By End-user Industry:

Process
- Oil and Gas
- Chemical
- Food and Beverages
- Energy and Power
- Other (Water, etc.)
Discrete
- Automotive
- Electronics
- Heavy Manufacturing
- Packaging
- Others (Aerospace and Defense, etc.)

By Region:

North America
- United States
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
Japan
Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and 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 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 Bluetooth Market: Anticipated Surge with a Remarkable 8.4% CAGR, Projected to Reach US$ 8,231.0 Million by 2032

The global industrial bluetooth market is anticipated to reach a total value of US$ 3,665.0 million by the end of 2022. Looking ahead, from 2022 to 2032, experts project a Compound Annual Growth Rate (CAGR) of 8.4% for the market, leading to an estimated value of US$ 8,231.0 million at the end of this period. In the five-year historical period from 2016 to 2021, the industry saw steady growth, with a value CAGR of 7.8%.

The industrial Bluetooth market refers to the use of Bluetooth technology in industrial applications such as manufacturing, automation, transportation, and logistics. Bluetooth technology enables wireless communication between devices, making it ideal for industrial applications where wired connections may not be feasible or practical. Industrial Bluetooth devices are designed to withstand harsh environments and offer features such as high reliability, low latency, and secure communication.

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Wireless Bluetooth technology has entered the industrial sector as well due to its important features and cutting-edge functionalities. Industrial Bluetooth eliminates the difficulties that come with conventional communication techniques, enabling more effective communication.

The market for industrial Bluetooth is driven by the increasing adoption of wireless communication technologies in the industrial sector, as well as the growing trend of Industry 4.0, which emphasizes the use of advanced digital technologies to optimize industrial processes. Industrial Bluetooth devices are used for a wide range of applications such as wireless sensors, machine-to-machine communication, and asset tracking.

The market for industrial Bluetooth is expected to grow significantly in the coming years, driven by the increasing demand for wireless communication technologies in the industrial sector, and the growing adoption of Industry 4.0. The emergence of new applications such as industrial IoT and the increasing use of wireless sensors in industrial processes are expected to further drive the growth of the industrial Bluetooth market.

Leading Key Players in the Global Industrial Bluetooth Market:

Intel Corporation,
Texas Instruments Incorporated,
Cypress Semiconductor Corporation,
NORDIC SEMICONDUCTOR,
Dialog Semiconductor,
Microchip Technology Inc.,
Microchip,
STMicroelectronics, and
Advantech Co., Ltd.

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Industrial Bluetooth Industry Segmentation:

By Type:

Single-Mode Module
Dual-Mode Module

By Industry Vertical:

for Oil and Gas
for Mining
for Power Generation
or Water and Wastewater Treatment
for Other Industry Verticals

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Nandini Singh Sawlani

Smart Space Market Surges with 16.2% CAGR to US$ 69,125.6 Million by 2034

The smart space market is expected to be valued at US$ 15,459.8 million in 2024. The market is expected to progress at an astonishing rate over the forecast period, with a CAGR of 16.2%. By 2034, the value of the market is forecast to reach US$ 69,125.6 million.

Both office and residential spaces are transforming into smart spaces at a positive rate. With technology infiltrating an increase in daily aspects for people, smart spaces are becoming a more common phenomenon, both for working and for living. While smart spaces are typically associated with economically well-off nations, developing countries are also making efforts to transform their cities into smart spaces.

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The government’s drive to build smart cities is helping the market. Local authorities of urban areas are concentrating on developing smart spaces as a way of dealing with the ever-increasing settling of people into cities. The desire of people to live in smart buildings and homes is also driving the adoption of smart spaces.

Smart spaces are helping businesses to track compliances as well as maximize profit. For example, energy management and optimization assist organizations in complying with mandated rules while also cutting down on costs. For public bodies, security, and infrastructure development are primary concerns that smart spaces help with.

Key Takeaways from the Smart Space Market Report:

The smart space market is anticipated to be valued at US$ 15,459.8 million in 2024.
Hardware is a popular component of smart spaces. For 2024, hardware is expected to contribute to 45.3% of the market share.
Energy management and optimization is the leader in the application segment. For 2024, energy management and optimization is expected to contribute to 23.9% of the share.
Australia is one of the promising countries in the market. The CAGR for Australia over the forecast period is anticipated to be 19.7%.
Japan is poised to be one of the most lucrative Asian countries in the market. For the 2024 to 2034 period, the CAGR for Japan is pegged at 17.4%.

Competition Analysis of the Smart Space Market

Market players commonly partner with public authorities interested in developing smart cities. The market is fragmented, with healthy competition abounding.

Recent Developments in the Smart Space Market

In January 2024, the King Abdullah Financial District Development and Management Co. and the Saudi Co. for Artificial Intelligence formed a partnership to develop smart traffic solutions in Riyadh.
In November 2023, Thales Alenia Space announced plans to open a smart factory in Rome.

Leading Key Players:

Cisco
Siemens
Huawei Technologies
IBM

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Smart Space Market Segmentation:

By Component:

Hardware
Software
Solutions

By Application:

Energy Management and Optimization
Emergency Management
Security Management
Others

By Premises Type:

Commercial
Residential
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The 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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Nandini Singh Sawlani

Animal Antimicrobials and Antibiotics Market Forecasted to Reach US$ 7,878.2 Million by 2033 with 4.9% CAGR Growth, Driven by Increasing Demand in Meat and Dairy Industries

In 2023, the animal antimicrobials and antibiotics market is to accumulate a market value of US$ 4,911.9 million. By 2033, this number is expected to expand to US$ 7,878.2 million, with a Compound Annual Growth Rate (CAGR) of 4.9%.

The demand for animal antimicrobials and antibiotics is on the rise during the forecast period due to the widespread use of several types of milk and meat products, especially in the Western diet.

The market is growing due to factors like the rise in zoonotic illnesses, the demand for animal-derived food products, and the adoption of regulations to curb the spread of animal diseases. Due to rising demand for pet insurance and rising expenditures for veterinary care, this market share for animal antimicrobials and antibiotics is predicted to grow.

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Animal antimicrobials and antibiotics market participants can expect tremendously rapid development thanks to the potential held by the untapped markets in China, India, and Brazil during the forecast period. The overall population of animals can also be seen to be on the rise, which is another great contributing factor.

Key Takeaways:

The United States holds a notable market share of 17.8% in the animal antimicrobials and antibiotics market in 2022, showcasing its significant role in the industry as a major consumer and contributor to the veterinary pharmaceutical sector.
Germany, with a market share of 6.6%, demonstrates its participation in the animal antimicrobials and antibiotics market, emphasizing the country’s commitment to animal health and welfare through the use of appropriate pharmaceutical interventions.
Japan’s market share in the animal antimicrobials and antibiotics market stands at 5.4% in 2022, reflecting the country’s focus on ensuring its livestock population’s well-being and disease management through the responsible use of antimicrobial products.
Australia contributes to the animal antimicrobials and antibiotics market with a market share of 1.0% in 2022, emphasizing the country’s attention to animal health and its efforts to mitigate the impact of infectious diseases through the judicious use of antimicrobials.
China exhibits a compound annual growth rate (CAGR) of 5.2% in the animal antimicrobials and antibiotics market, reflecting the country’s evolving livestock industry and the increasing demand for antimicrobial products to address animal health challenges and ensure food safety.
India experiences a robust CAGR of 9.6% in the animal antimicrobials and antibiotics market, highlighting the country’s expanding livestock sector and the growing need for effective disease management and growth promotion in the animal farming industry.
The United Kingdom showcases a CAGR of 5.9% in the animal antimicrobials and antibiotics market, indicating the country’s continuous efforts to promote responsible antimicrobial use, reduce the risk of antimicrobial resistance, and safeguard animal health and welfare in its agricultural practices.

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Competitive Landscape

Trianni Inc. (US) and Zoetis (US) have decided to work together on developing transgenic monoclonal antibody platforms for the discovery of innovative veterinary medications. This collaboration began in July 2020. The FDA approved Zoetis’ purchase of Marboquin (US).
Elanco (US) and AgBiome worked together to provide nutritional health solutions for pigs in 2019.
By balancing its food animal and companion animal divisions, Elanco Animal Health (US) announced in 2019 that it purchases Bayer’s Animal Health Business, boosting its own companion animal business and portfolio mix.
In 2019, Sanofi (France) purchased the Animal Health division of Boehringer Ingelheim (Germany) (Merial), and Boehringer Ingelheim (Germany) (CHC) was bought by Sanofi. After acquiring Merial, BI became the second-largest animal health firm in the world.

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Animal Antimicrobials and Antibiotics Market by Category

By Product Type:

Tetracyclines
Penicillins
Sulfonamides
Macrolides
Aminoglycosides
Lincosamides
Fluoroquinolones
Cephalosporins
Other Antimicrobials and Antibiotics

By Animal Type:

Companion Animals
Food Producing Animals

By Mode of Delivery:

Premixes
Oral Powder
Oral Solution
Injection

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
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Clean Label Ingredients Market to Reach US$ 169,024.9 Million by 2033 with 16.2% CAGR Growth, Fueled by Rising Demand in Natural Products

The Clean Label Ingredients Market size is projected to be worth US$ 44,080.0 million in 2023. The market is likely to reach US$ 169,024.9 million by 2033. The market is further expected to surge at a CAGR of 16.2% during the forecast period 2023 to 2033.

Clean label ingredients have witnessed a surge in popularity, driven by heightened consumer interest in understanding the components of food and beverage products globally. This trend is particularly pronounced among health-conscious consumers, emphasizing the growing demand for transparent and easily identifiable ingredients.

Clean label trends will extend beyond food and beverages into other industries, including personal care, cosmetics, and household products, creating new opportunities for clean label ingredient manufacturers. Manufacturers will focus on innovation in clean label ingredients, developing novel solutions to meet clean label criteria while maintaining functionality, shelf life, and taste.

The adoption of clean label certification programs and logos will increase, allowing consumers to easily identify products that meet clean label standards. E-commerce will continue to play a dominant role in the distribution of clean label products, allowing consumers to access a wide range of options

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Key Market Dynamics:

Clean Label Products Definition: These products, also known as natural components, include colors, flavors, fruits, vegetables, starch and sweeteners, flour, food additives, salt, and other substances. Clean label criteria encompass fewer ingredients, absence of artificial chemicals or additives, and may include organic, natural, and non-GMO attributes.
Consumer Scrutiny: Consumers worldwide are increasingly scrutinizing food labels, driving the demand for clean label ingredients. This trend poses challenges for clean label food ingredient companies operating globally.

Market Insights:

Market Growth in the U.S.: The clean label ingredients market in the United States exhibited robust year-over-year growth, defying concerns related to the global pandemic.
Asia Pacific Investment: Major market players are anticipated to invest heavily in the Asia Pacific region, leveraging the region’s cost-effective workforce and raw materials.
Key Market Share in Germany: Germany holds a significant market share, highlighting its importance in the European clean label ingredients market.
High Growth Sectors: Colors and flavors, representing a substantial market share, are projected to witness a high growth rate over the forecast period.
Bread Industry Impact: The expansion of the bread industry in emerging countries is expected to drive the growth of the clean label ingredients market.

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Key Takeaways from Market Study

The clean label ingredients market in the United States is expected to expand at a CAGR of 16.1% through 2033. The country held a market share of 17.7% in 2022.
As workforce and raw materials are more affordable in Asia Pacific, many of the major market share players are expected to spend heavily in the coming years..
The China’s clean label ingredients market is anticipated to expand at a CAGR of 16.0% through 2033.
The clean label ingredients market in India is poised to expand at a CAGR of 16.0% through 2033.
Clean label ingredients trends in Japan are taking a turn for the better. A 15.8% CAGR is forecast for the country from 2023 to 2033. The country held a market share of 3.2% in 2022.
The clean label ingredients market in Germany is anticipated to expand at a CAGR of 15.6% through 2033.
In emerging countries, the expansion of the bread industry would set the way for the rise of the Clean Label Ingredients market.
Large market segments’ development tactics include material development, appealing integration programmes, advertising and development interests, collaborative efforts with product developers , and restricted expansion into new company sectors.

“ Rising Awareness among Consumers is driving the Clean Label Ingredients industry. Consumers are looking for simpler, more genuine ingredients, as well as shorter, clearer labelling, but they are not willing to compromise on quality or flavour. Food manufacturers who will focus on correctly understanding customer behaviour and designing strategies based on it will have a significant success component “, – Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

Clean Label Ingredients have a strongly competitive global market. The largest corporations are increasing their R&D investment and expanding their operations in order to maintain their market positions.

Some of the leading companies offering Clean Label Ingredients are Cargill Inc., Kerry Group plc, Ingredion, and Tate & Lyle.

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Segmentation Analysis of the Clean Label Ingredients Market

Type:

Natural Colors
Natural Flavors
Fruit & Vegetable Ingredients
Starch & Sweeteners
Flours
Malt
Natural Preservatives
Fermentation Ingredients
Oils & Shortenings
Emulsifiers

Application:

Dry Form Products
Cereals & Snacks
Bakery Products
Beverages
Prepared Food/Ready Meals & Processed Foods
Dairy & Frozen Desserts
Others

Form:

Dry
Liquid

Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The 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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