Winter Tourism Market Trends Point Towards US$ 224.7 Million Revenue by 2033, Showing 6% CAGR | FMI

Winter Tourism Market
Winter Tourism Market

The market for winter adventure tourism is anticipated to reach US$ 125.5 million in 2023 and US$ 224.7 million by 2033, at a CAGR of 6% from 2023 to 2033, according to recently released research by Future Market Insights (FMI). In its parent market (the tourism market), winter adventure tourism has a proportion of between 5% and 9%.

Customers’ sound financial standing and desire to study and educate themselves are fostering market expansion. Millennials like travelling and discovering other locations’ unique food, transportation options, etc.

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The ability to customize winter adventure itineraries for specific customers, as well as the provision of lodging, local cuisine, transportation services, etc., are some of the factors driving the worldwide winter adventure industry.

The global expansion of winter adventure industry is being aided by the firms’ digital presence. Additionally, it enables businesses to provide special deals and group discounts to clients.

Key Trends in the Winter Adventures Tourism Market

  • Rise of Niche Winter Activities: Traditional winter sports like skiing and snowboarding are evolving into niche experiences. Emerging activities such as ice climbing, snowshoeing, and dog sledding are gaining traction, catering to adventure enthusiasts seeking novel and challenging pursuits beyond the conventional winter sports.
  • Sustainable and Eco-Friendly Practices: With increasing awareness of environmental issues, winter adventure destinations are prioritizing sustainability. Resorts are adopting eco-friendly practices, including energy-efficient infrastructure, waste reduction initiatives, and responsible tourism programs, appealing to conscious travelers seeking immersive experiences with minimal environmental impact.
  • Technological Integration for Enhanced Experiences: The integration of technology is transforming winter adventures. Augmented reality (AR) and virtual reality (VR) are enhancing pre-trip planning and on-site experiences. From virtual slope previews to AR navigation on trails, technology is creating a seamless and immersive winter adventure journey.
  • Personalized and Authentic Experiences: Travelers are seeking personalized and authentic experiences over generic tourist activities. Winter adventure destinations are responding by offering tailor-made packages that cater to diverse preferences, whether it be cultural immersion, local cuisine exploration, or unique outdoor activities, creating memorable and authentic winter adventures.

Key Takeaways:

  • The most preferred winter adventure is Free riding. This is because it is sustainable to the nature. Hence, customers prefer that over anything else.
  • The age group of 26-35 years prefers participating in winter adventures tourism. This age group loves to do adventurous stuffs and exploring.
  • Online booking channel is the most used channel and will continue to be the same. It is due to the increased digital presence of the companies in the winter adventure markets.
  • International tourists prefer to do winter adventures tourism. The domestic tourists are always willing to do these winter adventures tourism close to their homes.
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Who is winning?

Leading players of the Winter adventures tourism market are focusing on improving their digital presence and providing great tour packages for their customers

Major players present in the Winter adventures tourism

  • Exodus Travels
  • Walkers’ Britain
  • Trafalgar
  • Expat
  • Explore Utracks
  • Nordiva
  • Tour Active Adventures
  • Explore Intrepid Travel
  • Topdeck
  • Georgian Holidays LLC among others.

Key Segments

By Type:

  • Free riding
  • Snowkiting
  • Ice yachting
  • Snow kayaking
  • Ice surfing
  • Ice climbing
  • Shovel racing
  • Ice diving
  • Snowcross
  • Speed flying
  • Ski biking
  • Others

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In Person Booking

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Package Traveler
  • Tour Group

By Consumer Orientation:

  • Men
  • Women

By Age Group:

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

About Future Market Insights (FMI)

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

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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Industrial Solar Water Heaters Market Rising to US$ 1,138.9 Million by 2033

Harnessing the sun’s power for industrial hot water needs is no longer a futuristic vision. Industrial solar water heaters (ISHWH) are making waves in the commercial and industrial sectors, offering a sustainable and cost-effective solution for heating water at scale. Let’s explore the current landscape of the ISWH market, delve into the factors driving its growth, and peer into its promising future.

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Current Scenario: 

The global industrial solar water heater market is projected to reach a value of USD 6.42 billion by 2030, indicating a period of significant growth. This surge is fueled by several key trends:

  • Rising Energy Costs: Fluctuating and ever-increasing energy costs are prompting industries to seek alternative, sustainable solutions for heating water. ISWH systems offer significant cost savings on energy bills over the long term.
  • Government Incentives and Policies: Many governments are implementing policies and offering financial incentives to encourage the adoption of renewable energy technologies, including ISWH systems.
  • Stringent Environmental Regulations: Stricter environmental regulations are pushing industries to reduce their carbon footprint. ISWH systems contribute to sustainability goals by utilizing clean solar energy.
  • Technological Advancements: Improvements in solar collector technology, storage solutions, and control systems are enhancing the efficiency and performance of ISWH systems.
  • Increased Awareness and Focus on ROI: Businesses are becoming more aware of the environmental and economic benefits of ISWH systems, recognizing the return on investment (ROI) they offer.

Growth Factors: 

Several factors are expected to further propel the growth of the industrial solar water heaters market:

  • Expanding Applications: ISHWH systems are finding application in a wider range of industries beyond hospitality and food processing, including laundries, dairies, and manufacturing facilities.
  • Focus on System Integration: Manufacturers are developing ISWH systems that integrate seamlessly with existing heating infrastructure, simplifying adoption for businesses.
  • Hybrid System Development: The potential for hybrid systems combining solar thermal with other renewable energy sources like biomass or geothermal could offer even greater efficiency and reliability.
  • Advancements in Thermal Storage: Developments in thermal storage solutions will allow for efficient storage of solar-heated water for use during periods of low sunlight, making ISWH systems more versatile.
  • Data Analytics and System Monitoring: Integration of data analytics and remote monitoring capabilities will enable businesses to optimize system performance and maximize energy savings.

Future Scope: 

The future of industrial solar water heaters is expected to be shaped by several advancements:

    • Focus on Cost Reduction: Manufacturers will likely prioritize further reducing the initial investment costs of ISWH systems to make them even more accessible to businesses.
    • Customization and Standardization: The industry may see increased standardization of core components alongside customization options to cater to specific industry needs.
    • AI-Powered Optimization: Artificial intelligence (AI) could be integrated into ISWH systems for dynamic control and optimization of energy use based on weather patterns and hot water demand.
    • Smart Grid Integration: Future ISWH systems might integrate with smart grid technologies, potentially allowing businesses to sell excess solar-generated electricity back to the grid.
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Vacation Ownership Market Charts Impressive Growth Path, Set to Reach US$ 21.9 Million by 2033 | FMI

Vacation Ownership Market
Vacation Ownership Market

Currently valued at US$ 11.6 million in 2023, the vacation ownership market is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2033, reaching US$ 21.9 million.

The vacation ownership industry has a lot of potential for growth in the future. Vacationers are now better equipped and inclined toward booking, researching, and buying timeshares online, thus yielding enhanced and simplified customer service. The emergence of this trend underscores the importance of digital technologies in the present scenario.

Customers also actively seek high-quality vacation experiences, from luxury villas to resorts. As a result, destination-based firms are now searching for discrete ways to milk from this trend.

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An increase in vacationers opting for flexible ownership options like points-based and fractional programs. These trends exhibit the way the vacation ownership industry is evolving.

AR technology is becoming valuable to the hospitality industry. This is due to the fact that with the help of this technology, hotels sell a physical environment. In addition to this, the importance of this technology in the vacation ownership industry appreciated, along with the shift in target demographics.

Recent trends indicate AR and VR have significant momentum and are projected to present new growth opportunities in the vacation ownership industry.

Top Highlights from the FMI’s Analysis of the Vacation Ownership Market: 

  • The North American vacation ownership industry is expected to lead the global landscape by attaining a massive share of 23% in 2022.
  • In 2022, the Europe vacation ownership industry bagged 19.8% market share, just around a 3% difference from North America’s.
  • The United States vacation ownership industry gained a 15% value share in 2022.
  • The German vacation ownership industry achieved a 5% value share in 2022, gaining a prominent market in Europe.
  • The Japan vacation ownership industry is expected to garner more than a 3.1% market share in 2023.
  • The Australian vacation ownership industry is projected to hold a 5.8% market share in 2023.
  • The United Kingdom market is expected to observe significant growth over the forecast period. The industry is projected to expand at a CAGR of 6.4% over the estimated time.
  • Over the forecast period, India is projected to gallop at a CAGR of 6%.
  • The China vacation ownership industry is projected to increase at a CAGR of 5% in the upcoming years.
  • Based on tour type, the domestic segment is projected to acquire a market share exceeding 47% over the forecast period.
  • Based on tourist type, the package traveler segment attained 36% market share in 2022.

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What are the Recent Developments by Competitors that are Shaping the Forecast Timeline?

  • In April 2023, Marriott Vacations Worldwide Corporation (NYSE: VAC) declared that it had completed its initial timeshare receivable securitization of the year 2023. Increasing demand for securitization and related costs indicates investors’ consistent confidence in the company’s leisure-focused business model.
  • In June 2023, Bluegreen Vacations Holding Corporation (NYSE: BVH) announced that it had completed a private offering and sale of almost US$ 214.6 million of vacation ownership interest.
  • In May 2023, SEBI suggested norms to regulate the fractional ownership platforms that offer real estate assets. The proposed framework is expected to result in the orderly development of the sector by protecting investor protection measures.

Key Players

  • Wyndham
  • Marriott Vacations Worldwide
  • Hilton Grand Vacations
  • Hyatt
  • Diamond Resorts
  • Bluegreen Vacations
  • Disney Vacation Club

Vacation Ownership Market by Category

By Type:

  • Fixed Week
  • Floating Week
  • Points-based System

By Tour Type:

  • Domestic
  • International

By Tourist Type:

  • Independent Traveler
  • Tour Group
  • Package Traveler

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In-person Booking

By Consumer Orientation:

  • Men
  • Women
  • Children

By Age Group:

  • 15 to 25 years
  • 26 to 35 Years
  • 36 to 45 Years
  • 46 to 55 Years

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa

About Future Market Insights (FMI)

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

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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Film Tourism Market: Forecasting a Whopping US$ 118.6 Million Revenue Surge by 2033 | FMI

Film Tourism Market
Film Tourism Market

Future Market Insights (FMI) recently released research that projects the film tourism market will increase at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2033, with a forecasted value of US$ 118.6 million by 2033. The market is anticipated to reach US$ 66.9 million in 2023.

The film tourism market is forecasted to grow at a consistent growth rate during the forecast period. This is majorly attributed to the growing popularity of global content and the trend of cultural integration. The parent market for Film Tourism I.e. Cultural Tourism has been on an upward growth for a long time due to globalization.

These factors along with multiple other nudges have helped the film tourism market gain mainstream popularity and a highly lucrative market. The rise of film tours across the world to locations where the films have been shot, the production sets, film festivals, etc. have helped the firms increase their service offerings.

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The introduction of streaming services and increasing penetration of internet connectivity across the world has also helped immensely in making the different content globally famous.

This along with the low cost of international travel and ease of availing accommodations has also made a significant impact on the growth of the film tourism sector. Untapped tourist locations get the limelight from the international broadcast of the films, documentaries, or shows filmed there.

Film locations and sets can be visited round the year making the film tourism sector consistent and safe from the seasonal aspects that other tourism markets suffer. This along with the ease of providing such tours has made the film tourism sector an easy market for new firms to enter.

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Key Takeaways from the Film Tourism Market Study:

  • The North America and Asia Pacific regions hold a market share of ~32.6% and ~35% respectively.
  • The Covid-19 pandemic had a 45% impact on the value of the film tourism sector.
  • New Zealand, the USA, France, India, Japan, the UK, and Ireland are some of the most popular destinations for film tourism.
  • Film sets and theme parks are the most popular location types in the film tourism market.
  • Online booking channels lead the charts in film tourism market booking channel segmentation.

Who is winning?

By providing all-inclusive packages and sparing travelers from the trouble of navigating several channels for their excursions, the major players are able to keep their competitive advantage in the market. Government investments and initiatives are stimulating the market, and they have also assisted businesses in enhancing their service offerings.

The key players in the film tourism market are

  • IIFTC
  • MP Tourism
  • Tourism Film Destinations
  • Scallywag Travel
  • Onlocationtours

Film Tourism Market Segmentation

By Location Type:

  • Film Sets
  • Destination
  • Film Festivals

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In-person Booking

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Package Traveler
  • Tour Group

By Consumer Orientation:

  • Men
  • Women

By Age Group:

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

By Region:

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

About Future Market Insights (FMI)

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

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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Africa Adventure Tourism Market Flourishes, Estimated at US$ 187.4 Million by 2033 with 5% CAGR | FMI

Africa Adventure Tourism Market
Africa Adventure Tourism Market

At a compound annual growth rate (CAGR) of 5.0% from 2023 to 2033, the adventure tourism industry in Africa is predicted to reach US$ 115.1 million in 2023 and surpass US$ 187.4 million.

According to the World Tourism Organization, Africa is the region with the second-fastest growth in terms of tourism after South East Asia. Tourists that are passionate about travel and adventure should partake in adventure tourism. It is intended for people who desire to enrich their lives with fresh experiences. Adventure tourism is resilient, draws high-value clients, helps local economies, and promotes environmentally friendly behaviour.

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Despite being a small market, it is becoming more and more popular worldwide. Africa is a comprehensive travel destination for all types of tourism, notably adventure tourism, due to the abundance of natural resources.

Africa is a vast and scenic continent, from lush rainforests to towering desert sands, snow-capped mountains, wild coastal cliffs, tranquil white sands and turquoise waters. Africa is home to the most diverse wildlife on the planet and a rich variety of cultures and traditions. There are many unparalleled adventures on this unique continent, so I’ll briefly summarize them here.

Snorkel, water Rafting, Hot air balloon flight, Gorilla trekking, Swim with whale sharks, dunes, these are the some of the adventure tourism activities in Africa.

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Key Takeaways:

  • Land based activists rea mainly preferred and more prominent in adventure tourism Africa.
  • Africa is a vast continent with the most diverse countries in the world filled with lush local forests and stunning beaches.
  • Lack of infrastructure development around many adventure destinations in Africa will restrain the African adventure tourism market.
  • Growing interest in adventure sports, rise in disposable incomes, and affordable travel packages are anticipated to support market expansion.
  • In terms of traveller type, the family segment is estimated to account for the relatively highest value share in the African adventure tourism market
  • Middle-aged people that are 20-30 age group segment will continue to hold the highest share in traveling in the forecast.

Key Players in the Market

  • Africa Adventure Company
  • Africa Safari & Adventure Tours
  • Africa Travel Co.
  • Go Explore Safaris & Tours
  • Nomad Africa Adventure Tours
  • Africa Adventure Vacations
  • Pamoja Tours & Travels

Market Segmentation in the Africa Adventure Tourism Market

By Type:

  • Hard
  • Soft

By Activity Type:

  • Land-Based
  • Water-Based
  • Air-Based

By Traveller Type:

  • Solo
  • Friends/Group
  • Couple
  • Family

By Age Group Tour Type:

  • Below 30 Years
  • 30 to 41 Years
  • 42 to 49 years
  • 50 Years and Above

By Consumer Orientation:

  • Men
  • Women
  • Child

By Region:

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 5000 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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Electric Hedge Trimmer Market Size worth US$ 867.9 million by 2033

According to Future Market Insights (FMI) projection, the global electric hedge trimmer market has consistently grown, reaching a commendable net worth of US$ 476.6 million by the end of 2022. According to FMI, the global market value is projected to increase even more in 2023, reaching around US$ 503.3 Million. This upward trend is projected to continue over the forecast period from 2023 to 2033 as the market could secure a promising CAGR of 5.6%. The overall market is expected to reach a fantastic worth of US$ 867.9 million by the conclusion of this forecast period in 2033.

Electric hedge trimmer sales have been boosted by the expanding trend of home gardening and the increased demand for landscaping and garden management services. The need for gardening and landscaping equipment, particularly electric hedge trimmers, has increased due to rapid urbanization and rising disposable incomes.

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These trimmers are becoming well-liked among commoners and professionals since they provide a practical and environmentally responsible substitute for conventional gas-powered devices. Moreover, the switch from gas-powered to electric hedge trimmers has been motivated by lower operating expenses and the need for sustainable landscaping techniques.

The availability of inexpensive substitutes, particularly in areas with more lenient environmental rules, may influence market dynamics. Despite the rise in popularity of electric versions, some customers continue to choose the greater power and longer runtime provided by traditional trimmer types.

Key Takeaways from the Global Electric Hedge Trimmer Market Report:

  • The overall market is predicted to witness an absolute dollar growth of US$ 364 million over the next ten years.
  • Until 2022, the demand for electric hedge trimmers in Europe was higher than in North America. European countries contributed nearly 29% together, while the United States and Canada contributed 20% of the global sales in 2022.
  • The Asia Pacific region, in particular, presents greater opportunities for electric hedge trimmer manufacturers as the standard of living is improving at a higher rate.

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Competitive Landscape for the Electric Hedge Trimmer Market Players

American Honda, ECHO, Husqvarna, Robert Bosch, STIHL, Blount, Ernak, GreenWorks, Makita, MTD RYOBI, Stanley Black and Decker, and Flymo are some top market players. To compete with gas- and battery-powered hedge trimmers, the leading players are concentrating on enhancing the effectiveness and performance of electric hedge trimmers. Additionally, maintaining product quality and abiding by safety regulations builds consumer confidence and retains a favorable reputation.

The growing competition in this market can be ascribed to the expanding use of electric hedge trimmers in several industries worldwide. New market players that can forge a solid presence and distribution system soon stand to gain a lot from this expanding market. They must also highlight their products’ distinctive selling characteristics, such as their usability and eco-friendliness, to differentiate themselves from competitors.

Robert Bosch announced introducing its new line of electric hedge trimmers, a strong motor, and a lengthy operating period in November 2022. The new series of electric hedge trimmers from Bosch are made for several gardening tasks, such as pruning bushes, shrubs, and hedges.

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Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Market Domain:

Hedge Trimmers Market Size: the hedge trimmers market is anticipated to attain a value pool of US$ 700 million by 2023-end. Global demand for hedge trimmers is expected to rise at a CAGR of 5.5% to US$ 1,200 million in 2033

Electricity Transmission Infrastructure Market Forecast: The global Electricity Transmission Infrastructure Market is estimated to be valued at US$ 39.9 Billion in 2022 and is projected to increase at a CAGR of 4.40% in the forecast period from 2022 to 2032.

Electrical Enclosure Market Review: The global electrical enclosure market is anticipated at US$ 46.6 billion in 2022. Demand is likely to remain high for electrical enclosures during the assessment period. This is due to the increased mining operation and garnering US$ 81.3 billion in 2033, recording a CAGR of 5.2% from 2023 to 2033.

Automated Container Terminal Market Key Trends: the global automated container terminal market achieved a significant milestone, reaching a valuation of US$ 10 billion. Demand for automated container terminals is predicted to progress at a CAGR of 7.3% from 2023 to 2033.

Solar Trackers Market Overview: The global solar trackers market size was valued at US$ 3.2 billion in 2022. The market is estimated to surge at a CAGR of 7.5% by 2033, reaching a value of about US$ 7.2 billion by 2033.

Woodworking Router Bits Market Analysis: The global woodworking router bits market value is forecast to reach US$ 166.0 million in 2023. Over the assessment period from 2023 to 2033, global sales of woodworking router bits are predicted to soar at 5.7% CAGR.

North America Backflow Preventer Market Demand: The North America backflow preventer market size reached US$ 112.6 million in 2018. Demand for backflow preventers registered a 3.6% year-on-year growth in 2022, indicating that the North American market would likely reach US$ 120.9 million in 2023.

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 is 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 5,000 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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Land Mobile Radio Market: Riding High with a 10.8% CAGR, Eyes US$ 58.0 Billion Valuation by 2032

The land mobile radio market is poised for significant growth, with projections indicating a robust landscape reaching a value of US$ 58.0 billion by the year 2032. This growth is expected to be driven by a steady Compound Annual Growth Rate (CAGR) of 10.8% throughout the forecast period.

The market for Land Mobile Radios (LMR), which are commonly used in sectors like public safety, transportation, and industrial applications, is set to expand substantially over the next decade. This expansion can be attributed to factors like the increasing demand for reliable communication systems in various industries and advancements in LMR technology.

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The sector has been expanding well as a result of the public safety organizations and police departments’ increasing emphasis on advancing communication technology. Various businesses such as shipping, infrastructure, production, and healthcare, frequently use land mobile radio systems.

The digital technology industry is fueling the growth of this market. For instance, TETRA has essential communication capabilities, as well as remarkable spectrum efficiency.

Security, quick call setup, a feature set for voice calls, and quick data transmission are a few of them. Since TETRA does not require internet access, its use in business and public safety communications networks has increased.

Land mobile radio (LMR) systems are being implemented by public safety organizations, which include fire departments, ambulance services, and law enforcement agencies, in a variety of locations. These are hotels, manufacturing complexes, warehouses, and theme parks.

There have been more natural disasters in recent years such as landslides, floods, storms, and earthquakes. All across the world, there are constant accidents at work and on the roads.

These reasons have increased the amount of work being done by various emergency response organizations around the world. These organizations have only recently started adopting LMR radio systems owing to their spectrum efficiency and stability. The market for professional land mobile radio (LMR) systems might expand as a result of this.

Key Takeaways from Land Mobile Radio Market Report:

  • South Korea and China’s land mobile radio industries are set to exhibit CAGRs of 11.2% and 11.8%, respectively.
  • By type, the hand-portable land mobile radio segment witnessed growth at a CAGR of 14.0% from 2017 to 2021.
  • Japan’s land mobile radio market is expected to be valued at US$ 4.2 billion by 2032.
  • The United Kingdom’s land mobile radio market is set to be valued at US$ 2.8 billion by 2032.
  • North America’s land mobile radio market size was US$ 7.1 billion in 2021.

Key Players in the Land Mobile Radio Market:

  • Harris Corporation
  • Motorola Solutions
  • Simoco
  • Raytheon Company
  • Thales SA
  • Hytera Communication Corporation Limited
  • Tait Communications
  • Sepura Plc
  • Icom Inc.
  • Cartel Communication Systems Inc.

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Land Mobile Radio Market Segmentation:

By Type:

  • Hand Portable
  • In-Vehicle (Mobile)

By Technology:

  • Analog
  • Digital

By Frequency:

  • 25 to 174 (VHF)
  • 200 to 512 (UHF)
  • 700 MHZ & Above

By Application:

  • Public Safety
  • Commercial

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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
Website: https://www.futuremarketinsights.com
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GPU as a Service Market: Projected Surge to US$ 119,643.4 Million by 2033 with a Remarkable 40.8% CAGR

The GPU as a service market is forecast to expand at 40.8% CAGR over the estimated time period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 3,911.4 million in 2023 and US$ 119,643.4 million by 2033.

Execution of research and development activities in the gaming sector is projected to augment market growth. In the present era, designers, engineers, and architects need animation and rendering software to efficiently construct complex 3D models, designs, and simulations. Businesses significantly rely on visual material to rope in new clients and generate revenue.

Upgradations in the super-performance processing capacity of GPU solutions and the generation of design vertical are assessed to positively affect the market growth. In addition to this, the flourishing gaming sector is projected to increase the usage of GPUaaS solutions. A survey conducted in 2022 suggested that 16% of Europeans expended more time on gaming to maintain their mental health during lockdowns.

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Cloud technology is rapidly getting hold of technical or non-technical industries. The trend is projected to offer a multitude of opportunities for GPUaaS providers. As many organizations are shifting their workloads to the cloud for better performance output and functionality, the adoption of GPUaaS is projected to rise.

In addition, increasing collaborations between GPUaaS providers, cloud providers, software vendors, and hardware vendors are projected to favor the GPU as a Service industry.

Top Highlights from the FMI’s Analysis of the GPU as a Service Market:  

  • The North America GPU as a Service industry is projected to have a market share of more than 32.4% in 2023.
  • The United States GPU as a Service industry captured a value share of 21.4% in 2022.
  • The Europe market is estimated to grab more than 25.1% of the overall market in 2023.
  • The German market attained a market share of 10.4% in 2022.
  • The United Kingdom GPU as a Service industry proceeded at a CAGR of 29.1% over the forecast period.
  • The Japan GPU as a Service industry captured a 3.4% CAGR over the forecast period.
  • The Australian market acquired a value share of 2.9% in 2022.
  • The Indian GPU as a Service industry is projected to expand at a robust pace of 42.3% from 2023 to 2033.
  • The Chinese GPU as a Service industry is projected to expand at a CAGR of 38.2% over the forecast period.
  • Under the category of GPU as a Service software, the segment obtained a value share of 20.5% in 2022.
  • Based on the service model, SaaS GPU as a Service model gained a 43.3% market share in 2022.

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Market News: Updates about Market Progress

  • Nvidia revealed that it is partnering with technical biggies like Google Cloud, Oracle Cloud, and Microsoft Azure, among others, in March 2023. With this collaboration, AI supercomputer is projected to be available as a cloud service. The company’s new offering is known as Nvidia DGX Cloud, and its subscribers or users can directly approach its AI supercomputers.
  • Intel revealed in October 2022 the debut of data center GPUs that are particularly designed to perform as a power source for cloud computing on the basis of Android systems. The company introduced Intel Arc 770, sold at US$ 329, and a data center for gaming computers coming in the mid-range.
  • Nvidia introduced the release of Omniverse cloud services across 100 nations in September 2022.

GPU as a Service Market: Key Players

  • IBM Corporation
  • Microsoft Corporation
  • NVIDIA Corporation
  • Intel Corporation
  • Qualcomm Incorporated
  • Fujitsu Ltd.
  • ARM Holdings PLC
  • Samsung Electronics Co., Ltd.
  • Taiwan Semiconductor Manufacturing Company Ltd.

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GPU as a Service Industry Segmentation:

By Product:

  • GPU as a Service Software
    • CAD/CAM
    • Simulation
    • Imaging
    • Digital Video
    • Modeling & Automation
    • Others
  • GPU as a Service
    • Managed Service
    • Updates & Maintenance
    • Compliance & Security
    • Others

By Service Model:

  • SaaS
  • PaaS
  • IaaS

By Delivery Model:

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Application:

  • Gaming
  • Design & Manufacturing
  • Automotive
  • Real Estate
  • Healthcare
  • Other Applications

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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.

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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Voice Assistants Market Outlook: Anticipated CAGR of 19% Towards US$ 24,588 Million by 2032

The voice assistants market is predicted to grow at a CAGR of 19% and reach US$ 4,329.0 million in 2022. By 2032, it is anticipated that the market will grow to a value of US$ 24,588 million.

Switches and buttons are being replaced with voice assistants in order to increase user convenience. Voice assistants enable people to use connected appliances, voice-activated speakers like Google Home, and many other voice-activated home appliances while finishing other tasks.

Voice assistant-equipped devices are capable of differentiating between accents and voices. Multiple commands can be answered by voice assistants at once. Intelligent assistants that act on voice commands are helping people reduce the amount of daily stress they experience.

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The Voice Assistants market refers to the segment of the technology industry that deals with the design, development, production, and distribution of software-based digital assistants that use voice recognition and natural language processing to interact with users. Voice assistants are used to perform a variety of tasks, such as answering questions, setting reminders, controlling smart home devices, and playing music.

The demand for Voice Assistants has been driven by the increasing adoption of smart homes and the growing use of mobile devices such as smartphones and tablets. Additionally, the development of artificial intelligence (AI) and natural language processing (NLP) technologies has greatly improved the accuracy and reliability of voice recognition, making voice assistants more practical and effective.

Factors driving the growth of the Voice Assistants market include the increasing adoption of smart home devices, the growing use of mobile devices, the development of AI and NLP technologies, and the increasing demand for personalized and hands-free digital experiences. Additionally, the growing trend towards connected cars and the integration of voice assistants with automotive infotainment systems are expected to fuel the growth of the market in the coming years.

Overall, the Voice Assistants market is expected to continue to grow in the coming years as the adoption of smart home devices and the use of mobile devices continues to increase, and as voice recognition and NLP technologies continue to improve.

Major Key Players:

  • Amazon.com, Inc.
  • Artificial Solutions
  • Apple Inc.
  • Honeywell Corporation
  • Samsung Electronics Co., Ltd.
  • Google Corporation
  • Interactive Voice Inc.
  • Athom B.V.
  • IBM Corporation
  • Nuance Communications, Inc.

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Recent Development:

Automating repetitive tasks is an important benefit offered by voice assistant applications. While routine tasks are carried out by voice assistant applications, humans can perform other tasks that are more important. Thus, introducing voice assistants not only enhances the consumer experience but also increases the productivity levels of an organization or a business. Thus, these factors will serve as growth boosters for the voice assistant application market.

The report on the voice assistant market by FMI has various points and factors that make the stakeholders aware of the existing competitive scenario. Furthermore, the report includes the demographic landscape, industrial insights, and the latest trends that prove to be of great help to the CXOs and stakeholders. The COVID-19 pandemic effect has also been included in the report.

Voice Assistants Market Segmentation:

By Technology:

  • Voice Recognition Technology
  • IoT Technology
  • Natural Language Processing
  • Others

By End-Use Application:

  • Corporate Office
  • Residential Application
  • Institutional Areas Such As Schools, Colleges
  • Others

By Region:

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

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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Surrogacy Tourism Market: Forecasting a US$ 468.9 Million Revenue and 6.1% CAGR by 2033 | FMI

Surrogacy Tourism Market
Surrogacy Tourism Market

The surrogacy tourism market is estimated to register a valuation of US$ 258.8 million in 2023 and is projected to reach US$ 468.9 million by 2033. The market is predicted to capture a CAGR of 6.1% from 2023 to 2033.

Which Factors Driving the Global Market?

Several factors are contributing to key growth in the global market. A few of these factors are:

  • Legal Restrictions: Several countries are implementing various rules and regulations on Surrogacy tourism. A few countries prohibit surrogacy, which is difficult for intended parents. In certain countries, the government offers favorable conditions and rules for surrogacy arrangements. Therefore couples choose to visit these destinations for parenthood.

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  • Cost Considerations: The cost of surrogacy is different from country to country. For instance, the United States is expensive for surrogacy tourism, including medical expenses, compensations, and legal fees. Countries like Thailand and India are more affordable for surrogacy tourism due to low prices.
  • Availability of Surrogate Mother: The availability of surrogate mothers plays a key role in driving the global market. In several countries, the availability of surrogate mothers attracts intended parents. Couples travel from one nation to another to find a surrogate for their parenthood.
  • Privacy and Confidentiality: During Surrogacy tourism, the government offers privacy and confidentiality to couples to pursue surrogacy outside their home country. They disclose their identity and allow them to maintain their privacy.
  • Medical Expertise and Technology: The present medical staff with advanced technologies influences the global market revenue. The growing well-established clinics experienced doctors, and advanced equipped machines promote successful surrogacy cases.
  • Cultural and Language Factors: Language and culture play a prominent role in upsurging the global market. A few couples choose to prefer their cultural background surrogates for parenthood. They prefer countries where they can find more aligned with their culture and roots.

These are a few of the factors that significantly drive the global market.

Key Takeaways:

  • The surrogacy tourism market is estimated to secure a CAGR of 6.1% with a valuation of US$ 468.9 million during the forecast period.
  • The United States dominates the global market by capturing a maximum share during the forecast period.
  • Hospital sector will dominate the end-use industry in the global market by 2033
  • Based on technology, IVF is estimated to fuel the global market during the forecast period.

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Key Trends in Surrogacy Tourism Market

  • Globalization of Surrogacy Services: Traditionally concentrated in a few countries, surrogacy services are now becoming more geographically diverse. Intended parents are increasingly exploring international destinations for surrogacy arrangements due to favorable legal frameworks, cost-effectiveness, and advanced medical facilities. This globalization trend is fostering a competitive market where countries vie to attract surrogacy tourism.
  • Regulatory Changes and Legal Landscape: Governments worldwide are reevaluating their stance on surrogacy, leading to significant regulatory changes. As some countries relax regulations to encourage surrogacy tourism, others tighten controls to address ethical concerns. The evolving legal landscape is influencing destination choices for intended parents, making legal considerations a critical factor in the decision-making process.
  • Technological Advancements: Rapid advancements in reproductive technologies, including in-vitro fertilization (IVF) and genetic testing, are revolutionizing the surrogacy process. Intended parents now have access to a broader range of options, including pre-implantation genetic testing (PGT) for selecting embryos with desired traits. These technological breakthroughs are not only enhancing success rates but also attracting individuals seeking advanced and personalized fertility solutions.
  • Increased Awareness and Acceptance: As society becomes more accepting of diverse family structures, there is a growing awareness and destigmatization of surrogacy. Celebrities openly sharing their surrogacy experiences have played a pivotal role in reducing societal taboos, contributing to a more accepting environment. This shift is encouraging more individuals and couples to explore surrogacy as a viable option to build their families.

How do Key Players Significantly Drive the Global Market?

The market is highly competitive by the present key players globally. These players are trying to develop unique and improved products by investing in research and development activities. Key players are adopting various marketing tactics to advance the global market, including mergers, acquisitions, collaborations, and product launches.

Key players are taking feedback and suggestions for their products and services and filling the gap per their requirements. They promote their brands on several platforms to reach relevant customers, such as trade shows, exhibitions, and seminars to expand the global market.

Recent Developments in the Global Market are:

Lotus Medical International offers a wide range of surrogacy and fertility treatments. These services include medical procedures, matching intended parents with surrogate mothers.

Surrogacy Tourism Market by Category

By Type:

  • Gestational surrogacy
  • Traditional surrogacy

By Tour Type:

  • Domestic
  • International

By Technology:

  • IVF with ICSI
  • IVF without ICSI
  • Intrauterine Insemination

By Service Provider:

  • Hospitals
  • Fertility Clinics

By Age Group:

  • 26-35 Years
  • 36-45 Years
  • 46-55 Years

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube