Explosive Growth Projected: Millimeter Wave Technology Market to Reach US$ 76.58 Billion by 2032, Reports FMI

Between 2022 and 2032, the market for millimeter wave technology is anticipated to expand at a startling 39.0% CAGR. The millimeter wave technology market is anticipated to reach USD 76.58 billion by 2032, up from USD 2.03 billion in 2022, according to FMI.

Since larger bandwidths are needed, millimeter waves are expected to have a big influence on the development of fifth-generation technology. The market’s shift towards the adoption of fifth-generation technology is expected to result in a large expansion of the millimeter wave technology market throughout the projection period.

Millimeter wave (MV) technology is a special type of electromagnetic wave technology. It is a mature technology and recently has been adopted in various application across industries. In the perspective of wireless communication, the millimeter wave generally occupy frequency range between 30 GHz to 300 GHz.

Drivers and Opportunities:

The Millimeter Wave Technology Market’s meteoric rise can be attributed to several key drivers and opportunities. Millimeter wave technology’s unparalleled capabilities in high-speed data transmission and its crucial role in the development of 5G networks are chief among them. Moreover, its increasing adoption in various industries such as telecommunications, healthcare, and automotive is fostering substantial market growth. As the demand for high-speed, low-latency connectivity continues to rise, millimeter wave technology is at the forefront, offering immense opportunities for market players to explore.

Competitive Landscape – Regional Trends:

In the intensely competitive Millimeter Wave Technology Market, regional trends play a pivotal role. Various regions across the globe are witnessing diverse patterns in the adoption and implementation of millimeter wave technology. While North America leads the charge with a strong presence of key market players and significant investments in 5G infrastructure, Asia-Pacific is rapidly catching up, driven by the burgeoning demand for high-speed connectivity in countries like China and India. Europe, too, is showing a growing inclination toward millimeter wave technology. The competitive landscape in these regions is marked by collaborations, acquisitions, and innovations as companies strive to gain a competitive edge.

Restraints:

Despite its promising growth trajectory, the Millimeter Wave Technology Market is not without its challenges. Regulatory hurdles, spectrum allocation issues, and concerns over the potential health effects of prolonged exposure to millimeter wave frequencies are some of the notable restraints. Overcoming these obstacles while ensuring the responsible deployment of this technology will be crucial for sustained market expansion.

Region-wise Insights – Category-wise Insights:

Region-wise, North America remains a dominant force in the Millimeter Wave Technology Market, driven by continuous advancements in 5G technology and widespread adoption. In Asia-Pacific, the market is witnessing exponential growth, primarily due to the rapid urbanization and increasing demand for high-speed internet services. Europe is also embracing millimeter wave technology in various applications, including autonomous vehicles and industrial automation.

Category-wise, the telecommunications sector remains the frontrunner in adopting millimeter wave technology, followed closely by the automotive industry, where it’s used for advanced driver assistance systems (ADAS) and autonomous vehicles. The healthcare sector is also leveraging millimeter wave technology for innovative medical imaging and diagnostics.

Key segments

By Product:

  • Telecom Equipment
  • Imaging & Scanning Systems

By Application:

  • Telecommunications
  • Military & Defense
  • Automotive & Transport
  • Healthcare
  • Electronics & Semiconductor
  • Security

By Frequency Band:

  • V-Band
  • E-Band
  • Other Frequency Bands

By Component:

  • Antennas & Transceivers
  • Amplifiers
  • Oscillators
  • Control Devices
  • Frequency Converters
  • Passive Components
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Author:

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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I2C Bus Market Valued at US$ 7.57 Billion in 2022, set to Reach US$ 12.44 Billion by 2032

It is projected that the I2C bus market would be valued US$ 7.57 billion in 2022 and US$ 12.44 billion in 2032. From 2022 to2032, the market is projected to grow at a CAGR of 5.1%. One of the factors propelling the I2C Bus market is the rapid expansion of industries like telecommunications, consumer electronics, and industrial electronics, since these developments have resulted in the widespread use of these buses.

It has been demonstrated that the power consumption and design complexity of microcontrollers rise in the absence of a protocol for expanding their peripheral functionalities. An important component of embedded system design is protocols.

There has been the advent of many protocols for the transferring of data between two systems one of them is the I2C bus protocol and the bus used is the I2C bus. An I2C bus is a bidirectional two-wired serial bus which is used to transport the data between integrated circuits.

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I2C Bus Market: Drivers and Challenges 

There are many factors driving the market for I2C Bus, from which one of the major factor is that the industries like consumer electronics, telecommunications and industrial electronics is growing at a good rate which is leading to the adoption of these I2C bus market globally.

As there are many similarities between seemingly unrelated designs like some intelligent control, usually a single-chip microcontroller, to derive benefits from the similarities I2C bus are used. This acts as a driver for the I2C bus market and is leading to its growth.

Other drivers for the I2C bus are more on the performance and feature side. Some of them are like the simple 2-wire serial I2C-bus helps in minimizing the interconnections so ICs can have fewer pins and also do not have many PCB tracks.

The process which is followed results in smaller design and less expensive PCBs. The I2C bus also leads to be less expensive as it eliminates the need for an address decoders and other glue logic with the use of completely integrated I2C-bus protocol.

Some of the restraint for I2C Bus market have been related to the features regarding its structure. IE2C bus increases the complexity of firmware or low-level hardware. This in hand need the skilled professional for the design and repairs. This acts as a restraint for the market and also leads to slow growth of I2C bus market. The other restraint for the market has been the its function where it imposes protocol overhead which reduces its throughput.

I2C Bus Market: Key Players 

Some of the key players of I2C Bus market are: NXP Semiconductors, and Texas Instruments Incorporated, and some of the potential manufacturers which are likely to enter the I2C Bus market are Soliton Technologies, Maxim Integrated Products, Inc., among others.

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I2C Bus Market: Regional Overview 

On the basis of geography, I2C Bus market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. Among various regions, North America I2C Bus market is seen to be leading in terms of value with U.S. I2C Bus market being the most attractive.

Also, the I2C Bus market in Japan and Western Europe is expected to be growing at the fastest rates due to the presence of tier-1 manufacturers in the region and increase in the number of consumer electronics buyers in which I2C Bus are used. I2C Bus market in North America and Western Europe is expected to be followed by China and Japan I2C Bus market.

The report covers exhaustive analysis on 

  • I2C Bus Market Segments
  • I2C Bus Market Dynamics
  • Historical Actual Market Size, 2013 – 2017
  • I2C Bus Market Size & Forecast 2018 To 2028
  • Supply & Demand Value Chain
  • I2C Bus Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • I2C Bus Market Value Chain
  • I2C Bus Market Drivers and Restraints

Regional analysis for I2C Bus Market includes 

  • North America Market
  • Western Europe Market
  • Eastern Europe Market
  • SEA and other APAC
  • Japan
  • China
  • Middle East and Africa Market

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I2C Bus Market: Segmentation 

The I2C Bus market can be segmented into various segments but as per the market analysis the market for I2C Bus is most suitably segmented by mode, type, application, end-user, and region.

On the basis of mode the I2C Bus market can be divided into; 

  • Standard-mode (bit rate up to 100 kbit/s)
  • Fast-mode (bit rate up to 400 kbit/s)
  • Fast-mode Plus (bit rate up to 1 Mbit/s)
  • Fast-mode Plus (bit rate up to 1 Mbit/s)
  • High-speed mode (bit rate up to 3.4 Mbit/s)
  • Ultra-Fast-mode (bit rate up to 5 Mbit/s)

On the basis of type the I2C Bus market can be divided into; 

  • Bidirectional bus
  • Unidirectional bus

On the basis of application the I2C Bus market can be divided into; 

  • System Management Bus (SMBus)
  • Power Management Bus (PMBus)
  • Intelligent Platform Management Interface (IPMI)
  • Display Data Channel (DDC)
  • Advanced Telecom Computing Architecture (ATCA)

Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Laser Therapy Devices Market Set to Beam Brightly, Reaching US$7 Billion by 2033

Laser Therapy Devices Market
Laser Therapy Devices Market

The global market for laser therapy devices is positioned for a luminous future, with a projected value of US$7 billion by 2033. This impressive growth trajectory, reflecting a Compound Annual Growth Rate (CAGR) of 8.8%, is fueled by the increasing adoption of these devices across various medical fields, according to a recent report by Future Market Insights (FMI).

FMI’s report paints a compelling picture of the market’s momentum. It anticipates the market to reach nearly US$2 billion by 2022, solidifying its steady growth pattern. This positive outlook aligns with the rising trend towards minimally invasive surgeries and significant investments in laser treatment procedures.

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The report pinpoints oncology (cancer treatment) and aesthetics as key areas propelling market growth, with ophthalmology applications following closely behind. Additionally, the trend towards low-level laser therapy (LLLT) is expected to gain significant traction, prompting major manufacturers to develop a wider range of cutting-edge LLLT devices. A prime example is the Euchronia FX 635, a US Food and Drug Administration-approved device (2019) that demonstrably reduces whole-body pain by nearly 50%.

Key Takeaways from FMI’s Laser Therapy Devices Market Study:

By device type, gas laser therapy devices to account for more than a quarter of the revenue share through 2021 A fifth of the total laser therapy devices revenue is accounted for by hospitals, specialty clinics to generate over half of the total share Ophthalmology treatment is likely to account for the bulk of the revenue share in the laser therapy devices market.

US and UK to experience high sales amid surging popularity of low-level laser therapy (LLLT) High prevalence rates of dermatological disorders to fuel laser therapy device sales across Germany Robust healthcare research funding and a flourishing aesthetics industry to pivot French laser therapy devices market growth High plastic surgery rates to heighten China’s share in the laser therapy devices market.

“Prominent laser therapy devices manufacturers are introducing portable handheld devices in order to enhance the comfort factor for surgeons while administering the appropriate treatment, improving patient outcomes and success rates,” says the FMI analyst.

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Competitive Landscape:

  • Boston Scientific Corporation
  • IPG Photonics Corporation
  • Lumenis Ltd.
  • Coherent Inc.
  • Biolitec AG
  • Hologic Inc.
  • Alma Lasers Ltd.
  • Fotona D.D
  • Danaher Corporation
  • Thermo Fisher Scientific Inc.

Are some prominent laser therapy devices manufacturers as profiled by FMI’s report? New product launches, capacity expansion initiatives and securing regulatory approvals for specific techniques are some key growth strategies.

In 2018, Hologic Inc. received a medical device license issued by Health Canada to market Cynosure’s advanced non-invasive body contouring product called SculpSure®, a laser treatment device for treating back, inner and outer thighs, and submental area under the chin. This approach destroys fat cells by raising body fat temperature.

Recently, in April 2021, Alma Lasers Ltd. launched the Alma PrimeXTM platform, a non-invasive approach for body contouring and skin tightening in the abdomen, waist, thighs and buttock areas. It deploys a combination of ultrasound and radiofrequency technologies.

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Key Segments Covered:

Device Type:

  • Solid-State Laser
  • Gas Laser
  • Liquid Laser
  • Semiconductor Laser

End-User:

  • Hospitals
  • Specialized Clinics
  • Ambulatory Surgical Centers
  • Other End-Users

Application:

  • Ophthalmology
  • Dermatology
  • Gynecology
  • Urology
  • Cardiovascular
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Global Financial Analytics Market Poised for Remarkable Growth: Trends, Innovations, and Opportunities Unveiled

The financial analytics market is anticipated to be valued USD 8,462.6 million by 2023. The market has increased in value from USD 7,700.3 million in 2022. The market is expected to grow at a healthy 11.5% CAGR between 2023 and 2033. By 2033, the market is expected to have grown to USD 25,208.4 million.

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Key Takeaways:

  • The financial analytics market is on a growth trajectory, set to reach US$ 25.2 billion by 2033, driven by data-driven decision-making and the adoption of advanced technologies.
  • North America leads the market, with a focus on risk assessment and fraud detection, while Europe and Asia-Pacific are emerging as key growth regions, emphasizing data-driven decision-making and operational efficiency.
  • Data security concerns, regulatory complexities, and high implementation costs present challenges to market expansion, but the adoption of cloud-based analytics platforms and the potential in the fintech sector offer ample opportunities for growth.

Drivers and Opportunities:

Several key drivers are steering the financial analytics market towards this tremendous growth. Increasing demand for data-driven decision-making in the financial sector, coupled with a surge in data volumes, is propelling the adoption of financial analytics solutions. The need for improved risk management, cost reduction, and compliance with regulatory requirements further drives this trend. Moreover, the rising adoption of cloud-based analytics platforms is opening up new avenues of growth.

Opportunities abound in the financial analytics market, particularly in the fintech, banking, and insurance sectors. The emergence of advanced technologies like artificial intelligence and machine learning is enhancing the capabilities of financial analytics solutions, offering predictive and prescriptive insights for more informed decision-making.

Competitive Landscape – Regional Trends:

The global financial analytics market is characterized by intense competition, with key players vying for market share. North America dominates the market, owing to the presence of several established financial institutions and tech giants. Europe follows closely, with the adoption of financial analytics solutions surging in the banking and insurance sectors. Asia-Pacific is emerging as a lucrative market, driven by the rapid digital transformation in the financial sector.

Restraints:

Despite its impressive growth trajectory, the financial analytics market faces certain restraints. Data security concerns and regulatory complexities pose challenges for market players. Additionally, the high implementation costs and the resistance to change in traditional financial organizations can slow down market expansion.

Region-wise Insights – Category-wise Insights:

  • North America: The largest market, driven by the United States, focuses on risk assessment and fraud detection.
  • Europe: Banking and insurance sectors are the primary users, emphasizing data-driven decision-making.
  • Asia-Pacific: Witnessing rapid adoption in emerging economies, particularly in India and China, aiming for operational efficiency.
  • Latin America: Fintech startups are leveraging financial analytics for competitive advantage.
  • Middle East & Africa: Focused on compliance and anti-money laundering measures.

Key Segments

By Type:

  • Data integration tool
  • Database Management System (DBMS)
  • Query
  • OLAP and visualization tools
  • Reporting and analysis
  • Analytical solutions
  • Consulting and support services
  • Others

By Application:

  • Data integration tool
  • Database Management System (DBMS)
  • Query
  • OLAP and visualization tools
  • Reporting and analysis
  • Analytical solutions
  • Consulting and support services
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East 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. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global LTE and 5G Market Poised for Rapid Growth, set to Reach US$ 2,167.1 Million by 2033

The FMI report on enterprises worldwide states that in 2018, the global market for LTE and 5G had a meagre worth of US$ 507.3 million. On the other hand, the usage of LTE and 5G services increased dramatically on a worldwide scale, averaging 8.7% annual growth between 2018 and 2022. By the end of 2022, the worldwide adoption of 5G and LTE may be valued at around US$ 709.5 million, according to a recent report.

The sector is expected to generate a substantial income of US$ 774.8 million in 2023, demonstrating rapid and noteworthy expansion. With a forecast 10.8% CAGR between 2023 and 2033, the uptake of LTE and 5G services might increase quickly in the years to come.Based on FMI’s forecast, the overall valuation for the global adoption of LTE and 5G technology could reach US$ 2,167.1 million by 2033.

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The growing consumer demand for faster and more reliable connectivity is the leading region for the proliferation of LTE and 5G services worldwide. The increase in smartphones and other connected devices has greatly aided the rise of LTE and 5G services.

The demand for quicker and more reliable connection solutions has increased as more users adopt mobile technology and depend on data-intensive apps. With their faster speeds and reduced latency, LTE and 5G services have become the go-to options for people looking for smooth, high-quality mobile experiences.

To serve a larger consumer base, service providers have expanded their coverage by concentrating on urban and rural regions with more people. This widespread acceptance of LTE and 5G services has strengthened the market across emerging economies. In addition, federal investments aimed at meeting the infrastructure requirements for adopting LTE and 5G services have also played a crucial role.

Key Takeaways from the Global LTE and 5G Market Study Report

  • With a global business share of 19.1%, the United States had a revenue share of the global market in 2022. The modern telecommunications infrastructure, broad adoption of LTE and 5G technologies, and a competitive market environment all contribute to its strong market position.
  • Key telecommunications firms and technological innovators of Europe are based in Germany. With a revenue share of 10.4% in the global market, Germany was a remarkable contributor in 2022.
  • Asia Pacific countries have been growing remarkably in the adoption of LTE and 5G services in recent years with the growing support of their respective governments. China, for instance, is poised to witness an annual growth rate of 12.9% from 2023 to 2033.

Competitive Landscape for the LTE and 5G Market Players

Alcatel-Lucent, Ericsson, Huawei Technologies, Nokia Solutions and Networks, AT&T, Motorola Solutions, NTT DOCOMO, Samsung Electronics, China Mobile, and Verizon Communications are some top market players. In recent years, these top service providers in the LTE and 5G markets have expanded their commercial activities, intensifying the competition further.

Rapid digital transformations, rising consumer expectations, and network technology developments are expected to diversify the market outlook further in the coming days. For instance, Qualcomm and Ericsson partnered to create 5G technology in 2016.

They have invested significantly in infrastructure development, deploying cutting-edge networks and enhancing current ones to accommodate faster and more capable data transfer rates. For instance, China Mobile declared in June 2017 that it had successfully tested 5G technology in a real-world setting.

Recent Developments by the LTE and 5G Service Providers

Samsung developed the first 5G smartphone in 2020 and launched it in March that year. This was a leading breakthrough in the development of 5G smartphones, later followed by many technology companies worldwide.

May 2021 saw the official standardization of 5G by the International Telecommunication Union (ITU), demonstrating a turning point in the evolution of 5G technology.

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Key Market Players

  • Alcatel-Lucent
  • Ericsson
  • Huawei Technologies
  • Nokia Solutions and Networks
  • AT&T INC.
  • Motorola Solutions Inc.
  • NTT DOCOMO Inc.
  • Samsung Electronics Co. Ltd.
  • China Mobile
  • Verizon Communications

Segmentation:

By Spectrum:

  • Long-term Evolution Frequency Division Duplex (FDD LTE)
  • Long-term Evolution Time Division Multiplex (TDD LTE)

By Release:

  • Rel 8
  • Rel 9
  • Rel 10
  • Rel 11
  • Rel 12
  • Rel 13

By Region:

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

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Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Molecular Imaging Market Poised for Explosive Growth have a CAGR of 11% by 2033

Molecular Imaging Market
Molecular Imaging Market

The global molecular imaging market would reach US$ 5,437.2 million by 2023. The market is anticipated to grow at a compound annual growth rate (CAGR) of 11.0% and generate US$ 15,457.48 million during the forecast period. The global rise in the prevalence of chronic illness is responsible for the market’s expansion.

The need for accurate and timely diagnoses is paramount in combating these complex diseases. Molecular imaging techniques offer a powerful solution, enabling physicians to detect abnormalities at a molecular level, often before conventional anatomical imaging methods can. This early detection window proves crucial in initiating effective treatment plans and improving patient outcomes.

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Molecular imaging offers a unique perspective on biological processes at the molecular level, enabling healthcare professionals to identify diseases in their earliest stages. This leads to more effective treatment strategies and improved patient outcomes. Furthermore, the rapid advancements in molecular imaging technology are continuously enhancing its capabilities, further propelling market expansion.

Key Takeaways:

  • In 2022, North America’s molecular imaging market expanded, with a CAGR of 35.1%.
  • In 2022, the United States developed the molecular imaging business with a share of 22.6%.
  • The molecular imaging market grew considerably to US$ 4,855.5 million in 2022.
  • The molecular imaging market expanded with a CAGR of 9.3% between 2018 to 2022.
  • By 2033, China’s molecular imaging market is projected to develop with a CAGR of 10.3%.
  • By 2033, India’s molecular imaging industry is projected to expand with a CAGR of 11%.
  • Japan’s molecular imaging industry grew significantly, with a 3.6% share in 2022.
  • Australia’s molecular imaging market is likely to expand with a CAGR of 12.7% by 2033.
  • Germany’s molecular imaging business grew, with a share of 6.9% in 2022
  • In 2022, based on modality, SPECT dominated the market, with a share of 23.5%.
  • In 2022, the hospital’s segment led the market, with a share of 56.5%, based on the end user.

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Key players:

  • Hermes Medical Solutions
  • Bruker Corporation
  • GE Company
  • Fujifilm Holdings Corp.
  • Koninklijke Philips N.V.
  • Siemens AG
  • Toshiba Medical System Corp.
  • Mirada Medical Limited
  • Carestream Health, Inc.
  • Esaote SpA
  • Positron Corporation
  • Medisco Ltd.
  • Hitachi Medical Corp.
  • MIM Software Inc.

Key segments :

By Modality:

  • Molecular Ultrasound Imaging
  • Positron Emission Tomography (PET)
  • Single Photon Emission Computed Tomography (SPECT)
  • Nuclear Magnetic Resonance (NMR) Spectrometer
  • Hybrid Products

By Application:

  • Cardiovascular
  • Neurology
  • Oncology
  • Respiratory
  • Gastrointestinal

By End Users:

  • Hospitals
  • Diagnostic Imaging Centres
  • Ambulatory Surgical Centres

By Region:

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

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About Future Market Insights (FMI)

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

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Future Market Insights Inc.
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T: +1-845-579-5705
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Orthopedic Shoes Market Set to Surge: Forecasted to Reach US$ 9070.9 Million by 2032 with a 9.6% CAGR

Orthopedic Shoes Market
Orthopedic Shoes Market

According to the latest data from Future Market Insights (FMI), the Orthopedic Shoes Market was valued at around USD 3.6 billion in 2022. It’s expected to experience significant growth, reaching approximately USD 9.1 billion by 2032. This suggests a compound annual growth rate (CAGR) of 9.6% between 2022 and 2032.

Key Growth:

  1. Aging Population: With an increasing aging population worldwide, there is a growing prevalence of orthopedic conditions such as arthritis, foot deformities, and diabetic foot ulcers. This demographic trend fuels the demand for orthopedic shoes designed to provide comfort and support for these conditions.
  2. Rising Awareness about Foot Health: Consumers are becoming more conscious of the importance of foot health in maintaining overall well-being. As awareness about the benefits of orthopedic footwear grows, individuals are seeking specialized shoes to alleviate foot pain and prevent injuries.
  3. Technological Advancements: Ongoing advancements in materials science and biomechanical engineering have led to the development of innovative orthopedic shoe designs. Incorporation of features such as customizable insoles, shock-absorbing materials, and breathable fabrics enhances comfort and functionality, driving market growth.
  4. Increasing Sports and Fitness Activities: The burgeoning interest in sports and fitness activities has spurred demand for orthopedic shoes tailored for athletic purposes. These specialized footwear offer superior support, stability, and protection, catering to the needs of athletes and fitness enthusiasts.

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The design of orthopedic shoes involves a great focus on biomechanical design as a solution for the issues mentioned above: wide selection work together to produce the ideal shoe. Extra widths, greater sizing options, and replaceable insoles are all features of orthopedic footwear. They have firm and supportive heels, easy fastenings for people who find it difficult or constricting to tie their shoes and uppers that can accommodate forefoot issues. To reduce stress on the joints, mid-soles and well cushioned out now with flex points absorb impact. Podiatrists and sneaker designers collaborate to create the ideal combination of features for the shoe that help those in need the most, allowing them to benefit from the many advantages of orthopedic shoes.

Orthopedic shoe manufacturers collaborate closely with a range of healthcare organisations and practitioners. For instance, after receiving treatment, a patient with diabetic foot ulcers must wear so-called therapeutic footwear. New Feet medical footwear, based on orthopedic tradition, which comforts and provide protection to the musculoskeletal system.

Key Takeaways from the Orthopedic Shoes Market Study

  • The flatfoot Shoes are the popular type among all the different orthopedic shoe type.
  • Injuries are common application type for the orthopedic Shoes.
  • Orthopedic shoes, commonly referred to as therapeutic shoes created to order, are intended for individuals with severe abnormalities.
  • Men’s orthopedic Shoes are in higher demand than children and women’s orthopedic Shoes. Men prefer orthopedic shoe, as they are involved in more physically active lifestyle and schedule, employed in industries and men’s are more engaged in industries.
  • In the case of regional analysis of regions like the North America and Asia is, expect to gain traction in the Orthopedic Shoes Market.

“The need for orthopedic shoes is rising as they gain popularity globally and collaborations grow increasingly demands the orthopedic shoes.” Says an FMI Analyst.

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Who is winning?

Leading players operating in the orthopedic shoes market are

  • DJO, LLC
  • DARCO International, Inc.
  • MEPHISTO S.A.S
  • Propet US, Inc.
  • Apex Foot Health Industries, LLC
  • DUNA-Corradini S.p.A.
  • Vionic Group LLC
  • Chaneco Limited
  • Orthofeet, Inc.
  • Piedro
  • Drewshoe Incorporated
  • New Balance Athletics, Inc
  • Others

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Orthopedic Shoes Market by Category

By Type

  • Flatfoot Orthopedic Shoes
  • Cavus Orthopedic Shoes
  • Calcaneal Spur Orthopedic Shoes
  • Varus Orthopedic Shoes
  • Valgus Orthopedic Shoes Others

By Application Type

  • Injuries
  • Alignment Issue
  • Foot disorder

By Consumer Orientation

  • Men
  • Women
  • Kids

By Sales Channel

  • Multi-brand Stores
  • Independent Small Stores
  • Online Retailers
  • Other Sales Channel

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global AI Platform Cloud Service Market Soars: Demand Projected to Reach US$ 30.5 Billion by 2032

The global AI platform cloud service market is set to surge, with a projected value of US$ 8.3 billion in 2022, and it’s poised to grow at an impressive CAGR of 20.3% over the next decade, reaching a staggering US$ 30.5 billion by 2032. This remarkable growth is primarily driven by the escalating demand for intelligent business processes.

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Drivers and Opportunities:

AI platform cloud services represent an integration of AI software solutions leveraging cloud infrastructure. This technology enables the creation, deployment, and management of AI-powered solutions, harnessing the capabilities of artificial intelligence and machine learning to optimize workflows. Companies embracing AI platform cloud services gain the advantage of automation and data-driven decision-making, resulting in enhanced operational efficiency.

These services also empower organizations by providing a secure operational environment while reducing the need for substantial on-premise IT infrastructure investments. Key drivers fueling the growth of the AI platform cloud service market include the adoption of flexible work practices, increasing demand for cloud computing, scalability, and improved collaboration efficiency. This technology revolutionizes how businesses operate, making it a lucrative opportunity for forward-thinking enterprises.

Restraints:

While the AI platform cloud service market presents significant growth opportunities, there are also limitations and challenges to consider. It’s essential to acknowledge that not all businesses are prepared to fully embrace AI technology, and concerns about data security and privacy persist. Additionally, the cost of implementing AI platform cloud services can be a barrier for some organizations. Navigating these restraints will be essential for sustained growth in the market.

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Key Segments Profiled in the AI Platform Cloud Service Industry Survey

By Industry:

  • Travel and Tourism
  • IT & Telecommunications
  • Service for Manufacturing
  • Service for Retail
  • Service for Other Industries

By Enterprise Size:

  • Small, and Medium Enterprises
  • Large Enterprises

By Region:

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

Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Cloud IAM Market Projected to Reach US$ 25,539.2 Million by 2032, Growing at a CAGR of 18.3%

Future Market Insights’ (FMI) research of the cloud IAM market projects that the industry’s adoption will expand at a compound annual growth rate (CAGR) of 18.3% between 2022 and 2032.

By the end of 2032, the market is predicted by the analysis to be valued at around US$ 25,539.2 million. Integration of machine learning and artificial intelligence with IAM solutions is largely responsible for growth.

When artificial intelligence and analytics are paired, the result can be targeted and contextualised insights that help both technical and non-technical staff members perform more quickly. These cutting-edge technology aid in accelerating the current IAM compliance regulations.

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It can detect potential threats and anomalies, without the need for a large team of security experts. In addition to that many IAM solution providers started adding behavioral data analytics with the help of ML technology to improve security tactics.

Key Takeaways: Cloud IAM Market

-By solution, the cloud IAM platform segment is anticipated to account for the leading share in the global demand for cloud IAM in 2021.
-Standalone software segment is estimated to grow at a CAGR of 19.5% through 2032.
-Among the enterprise size, SMEs segment is estimated to grow at a CAGR of 20.2% during the forecast period.
-By industry, the healthcare segment is anticipated to grow at a CAGR of 22.7% between 2022 and 2032.
-North America is expected to dominate the cloud IAM market, followed by Europe in 2022.
-South Asia & Pacific is estimated to witness fastest growth in the global cloud IAM market during the forecast period.
-The U.S. cloud IAM market is expected to progress at a CAGR of around 15.1% through 2032.
-In East Asia, China cloud IAM market is expected to grow by 6.1X during the forecast period.
-Japan is expected to grow at the highest CAGR of 21.9% during the assessment period.

Growing Adoption of BOYD Across Organizations

A variety of mobility movements in organizations have increased security measures to verify or authenticate the end-user machine. Increasing penetration of tables, personal devices, and mobiles helps employees to connect to the network of the organizations through their personal devices.

In recent times, employees are preferred to use their own devices instead of using office desktops or laptops. It ultimately creates the need for cloud IAM solutions to access the network. Therefore, the growing adoption of BOYD by many organizations ultimately fuels the demand for IAM solutions.

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Cloud IAM Outlook by Category

By Solution:

Cloud IAM Platform
Standalone Software
Cloud Single Sign-On (SSO)
Cloud-based Directories
Cloud Password Management
Others

By Enterprise Size:

Small and Mid-Sized Enterprises (SMEs)
Large Enterprises

By Industry:

BFSI
Telecom & IT
Energy and Utilities
Healthcare
Manufacturing
Education
Retail
Others

By Region:

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

Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Alarm Management System Market Poised for Robust Growth, Expected to Reach $3,281.5 Million by 2033

The global alarm management system market value is expected to jump from US$ 1,025.6 million in 2023 to US$ 3,281.5 million by 2033. This estimated growth is expected to be driven by an impressive CAGR of 12.3% in the global alarm management system market over the next decade.

End-use industries seek new alarm management solutions that provide more functionality than the previous versions. New or updated alarm management systems that support several transformative technologies like procedural automation and Big Data analytics are predicted to support sales of alarm management systems. Insights from alarm management systems can be used in data analytics solutions. Thus, several large plants are finding great value in certain abnormal situations, like the ones that are near misses.

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Growing awareness about the significance of critical alarm tracking also pushes the sales of alarm management systems. Organizations and factories invest in alarm management systems to alert employees and workers in case of procedural error or equipment failure. By lowering process inconsistencies, alarm management systems help industries reduce miscellaneous costs.

Key Takeaways from the Alarm Management System Market Report:

  • The United States market is projected to lead the global market with a percentage share of 21.2% in 2023.
  • Canada, a fellow North American country, is predicted to account for a 7.5% market share.
  • Germany and the United Kingdom are at the forefront of the Europe market, with a market share of 5.4% and 4.5%, respectively.
  • China and India are expected to record a value share of 9.7% and 7.4%, respectively, in 2023.
  • The Australian alarm management system market is predicted to account for a share of 3.2% over the forecast period.
  • The oil and gas industry is a prominent user of alarm management systems.
  • The software component of the alarm management system is predicted to attain a market share of 64.3% in 2023.

“Key players are focusing on the oil and gas industry to generate larger revenues in the upcoming years. Participants are also integrating new technologies in alarm management systems to bring efficiencies to the recent product. With the growing cognizance of alarm management systems’ importance and new industry standards in place, adoption of alarm management systems is set to increase,” opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.

Competitive Landscape

Incorporating advanced technologies allows key players to provide new functions in alarm management solutions beyond the scope of alarm management. This strategy may boost the preferability among different industrial end users.

Key Companies Profiled

  • Vocera Communications
  • Masimo Corporation
  • PAS Global LLC
  • exida.com LLC
  • Honeywell International Inc.
  • Ascom Holdings
  • Yokogawa India Ltd.
  • GE Healthcare
  • Spok Inc.
  • Koninklijke Philips

Key Developments

  • In April 2023, Fike, a fire protection solutions developer, launched the CIE-A-400 alarm control panel. This fire alarm control device provides the benefits of point identification, making it an apt choice for small-to-mid-size applications where reliability and cost-effectiveness are focal points.
  • In May 2022, Bold Group, a supplier of alarm monitoring for the security industry, introduced a solution to transform business management for alarm and security companies.
  • In July 2020, Bosch launched Access Management System 3.0, which unites with other security solutions.

Restraints:

Despite the promising growth prospects, the market faces certain challenges. High initial implementation costs and the resistance to transition from conventional alarm systems to advanced alarm management solutions are potential obstacles. Additionally, concerns regarding data security and cybersecurity threats are issues that need to be addressed to ensure the market’s sustainable growth.

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Key Segments Profiled in the Alarm Management System Market

By Component:

  • Services
  • Software

By Industry:

  • Oil and Gas
  • Chemical
  • Automotive
  • Agriculture
  • Research and Development

By Region:

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

Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

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