Market Research Blog – Page 3422 – New Product Development

Aquafeed Additives Market Set to Reach US$ 3.4 Billion by 2033 with 4.3% CAGR, Investors Eye Opportunities in Growing Demand for Fish and Seafood Products

The global aquafeed additives market size is anticipated to surpass US$ 3.4 billion by 2033. It is estimated to record a steady CAGR of 4.3% in the review period 2023 to 2033. It is likely to exceed a valuation of US$ 2.3 billion in 2023. The global aquafeed additives market registered an astonishing CAGR of 6.1% in the historical period between 2018 and 2022.

The aquafeed additive market is an important part of the aquaculture feed additives industry, which includes the cultivation of aquatic organisms such as fish, shrimp, and shellfish for human consumption. Aquatic feed additives are specialized ingredients included in the feed for these marine species. They serve various purposes, including improved nutrition, refining growth and health, and ensuring farmed seafood quality.

The aquafeed additives industry is growing rapidly to meet growing seafood demand. This is causing a meteoric rise in sales of high-quality aquaculture feeds. This includes additives that optimize nutrition and health of farmed aquatic species.

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Aquafeed additives include many ingredients, including proteins, vitamins, minerals, amino acids, enzymes, probiotics, prebiotics, antioxidants, and more. These additives are carefully selected and formulated to meet the specific nutritional needs of diverse aquatic species at different growth stages.

One of the key functions of aquafeed additives is to offer essential nutrients that may be lacking in the main diet. This ensures that aquatic species receive balanced and complete nutrition, enough for their growth and reproduction. Some additives are designed to boost the immune system and overall health of aquatic species, thereby reducing disease risk and the need for antibiotics.

Sustainable sourcing of environmentally friendly aquafeed ingredients and additives is becoming increasingly significant in the aquafeed market. Reducing reliance on limited resources such as fishmeal and fish oil is important.

Continuous research and development efforts are aimed at enhancing the nutritional value of aquafeed additives. This reduces environmental impact and improves the overall sustainability of farming operations in seafood. The aquafeed additives market is integral to the success of the aquaculture industry as it plays an important role in safeguarding the efficient and sustainable production of aquatic products.

Key Takeaways from the Aquafeed Additives Market Report

China’s aquafeed additives market is projected to cross a value of US$ 524.3 million by 2033.
Japan’s aquafeed additives market is projected to top a valuation of US$ 347.9 million with a CAGR of 4.9% by 2033.
South Korea’s aquafeed additives market is estimated to exceed a valuation of US$ 197 million by 2033.
Based on ingredients, the anti-parasitic category is projected to surge at a CAGR of 6.0% from 2018 to 2022.
In terms of application, the carp segment is expected to surge at a 4.0% CAGR by 2033.

“Increased fish farming activity globally coupled with augmented spending on activities such as research and development is pouring the growth of the aquafeed additives market. The growing demand for a compound meal to maintain the health of aquatic species coupled with the rising awareness of aquafeed additives are other drivers for the market’s growth.”– says a lead analyst at Future Market Insights (FMI).

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Competitive Landscape

The market is highly competitive, with several companies offering a wide variety of products for diverse species of aquatic animals. Leading players have a robust global presence and supply a range of aquaculture feed additives, such as vitamins, amino acids, minerals, and enzymes. In addition, having a robust distribution network, marketing and good sales efforts, and competitive pricing are all significant factors for remaining competitive.

For instance,

In May 2022, Biomar A/S acquired smart shrimp feeding technology supplier AQ1 Systems.
In September 2021, Alltech announced a 50% expansion of the Alltech Coppens Aqua Center research facility.

Get More Valuable Insights into the Aquafeed Additives Market Report

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global aquafeed additives market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the aquafeed additives industry based on ingredient (anti-parasitic, feed acidifiers, prebiotics, essential oils and natural extracts, palatants, hydrolysates, yeast extracts, others) application (carp, rainbow trout, salmon, crustaceans, tilapia, catfish, sea bass, grouper, others) across several regions.

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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.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Pet Food Market Expected to Reach US$ 60.23 Billion by 2033 with 4.0% CAGR, Investors Eye Opportunities in Premium, Natural, and Organic Products

United States Pet Food Market — Pet Food Market

The market for pet food in the United States is anticipated to grow from US$ 40,860.8 million in 2023 to US$ 60,234.0 million in 2033. Sales of pet food in the United States are predicted to increase at a substantial CAGR of 4.0% by 2033.

Owing to a huge number of pet owners that place a high value on the welfare of their companion animals, the demand for pet food is soaring in the United States. The sector has experienced significant development and innovation. This has largely been in terms of alternative sources of protein, vitamins, fats, carbohydrates, and other nutritious to meet the growing pet culture.

A key driver in the growth of the pet food market is the increasing trend of humanization of pets. Giving pets wholesome food has become more important as pet owners now see their pets as integral members of their families. As a result, the market for premium, natural pet food products is expanding.

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Furthermore, modern-day pet owners are aware and informed about the ingredients used in pet food products. The rise in the number of intolerances, and allergies in pets has resulted in a growing popularity of grain-free and plant-based alternatives in pet food.

Novel protein sources like fish, soy, and several types of legumes have resulted in the development and formulation of products that are alternatives to conventional chicken or beef ingredients. This makes it possible for pet owners to adjust to specific dietary needs and meet specialized nutritional demands.

Key Takeaways from the Pet Food Report:

The United States pet food market is expected to reach a valuation of US$ 60,234.0 million by 2033
Demand for pet food in the United States is likely to soar at 4.0% CAGR over the forecast period
The historic growth during 2018 to 2022 of the pet food market in the United States stood at 3.0% CAGR.
The United States pet food market is estimated to be valued at US$ 40,860.8 million in 2023.

“The demand for premium pet food has been steadily increasing, with 85 million families owning pets in the United States. As pet owners become informed about the nutritional needs of their animals, there is an increase in demand for premium and specialty pet food options.” – says a lead analyst at Future Market Insights (FMI)

Competitive Landscape

Mars Petcare Inc., Nestlé Purina PetCare, The J.M. Smucker Company, Hill’s Pet Nutrition, Blue Buffalo Company, Champion Petfoods, Spectrum Brands Holdings, WellPet LLC, Diamond Pet Foods, Merrick Pet Care, Nutro Products, Ainsworth Pet Nutrition, Fromm Family Foods, Solid Gold Pet and Canidae Pet Foodkits are the key manufacturers listed in the report of FMI.

Several keyfirms are striving for market share and customer loyalty in the USA pet food business, which is highly competitive. To meet the several needs and tastes of pet owners, these businesses are committed to providing a wide choice of pet food items. There are several players in the market launching new pet food products.

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For instance,

In 2023, PetPlate launched FreshBaked™, the dry form of gently-baked, crunchy clusters with new formulation features human-grade, visible ingredients
In 2023, CULT Food Science Corp, launched a new series of pet performance supplements by the name Noochies! Sprinkles. These supplements expand upon the company’s existing product line Noochies!

The United States Pet Food Market Segmentation by Category

By Nature:

Organic
Monoprotein
Conventional

By Product Type:

Kibble/Dry
- Extruded
- Baked
- Coated
Dehydrated Food
Freeze Dried Food
Freeze-Dried Raw
Wet Food
Frozen
Raw Food
Powder
Treats and Chews
- Dog
  - Pastes
  - Crèmes
  - Crunchy snacks
  - Chew sticks
  - Tablets
  - Biscuits
  - Jerky
  - Rawhide
- Cat
  - Pastes
  - Crèmes
  - Crunchy snacks
  - Chew sticks
  - Tablets
  - Biscuits
  - Cat Milk / Milk snacks

By Source:

Animal derived
- Fish
  - Tuna
  - Salmon
  - Whitefish
  - Cod
  - Herring
  - Walleye
  - Flounder
  - Arctic char
  - Whiting
Chicken
Duck
Beef
Pork
Venison/Game
Lamb
Turkey
Plant-derived
Insect-derived
- Crickets
- Mealworms
- Black soldier flies

By Pet Type:

Cat
- Kitten
- Senior
Dog
- Puppy
- Adult
- Senior
Birds
Others (Rabbits, Hamsters, etc.)

By Packaging:

Pouches
Bags
Folding cartons
Tubs & Cups
Can

By Distribution channel:

Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
Online Retailers

By State:

California
Texas
Florida
New York
Illinois
Ohio
North Carolina
Michigan
Colorado
Wisconsin
Washington

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Novel Sweeteners Market to Reach US$ 1.93 Billion by 2033 with 6.1% CAGR, Investors Eye Opportunities in Confectionery and Functional Foods Trends

According to Future Market Insights (FMI), the worldwide novel sweeteners market is valued at US$ 1,057.6 million in 2023 and it is anticipated to reach US$ 1,926.4 million by 2033. Over the next decade, global novel sweeteners demand is likely to increase at a CAGR of 6.1%.

Consumers across the globe are becoming more health-conscious and shifting towards clean labeled food and beverages without compromising on taste. To cater to these needs, leading manufacturers are bringing advancements in technology.

The market is seeing the injection of innovative and unique sweeteners that enhance the overall taste experience of the finished product without compromising its nutritional value.

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In addition to it, these players are ensuring affordability and availability to customers seeking functional benefits and enhanced palate experiences that suit rapidly changing dietary preferences.

For instance, Tate & Lyle PLC launched TASTEVA® Stevia Sweeteners as a perfect ingredient that delivers taste and natural solution as a sugar substitute for the food and beverage industry. This stevia-extracted product can be used in bakeries, beverages, confectionery goods, dairy products, soups, and sausages and also can be used as dressing agents.

The market is likely to present additional growth opportunities as a result of globalization and the creation of new kinds of sub-segments of dietary choices. The demand for diverse and natural ingredients is rising as the world becomes an interconnected community and consumers embrace other cultures’ culinary traditions more readily.

The use of novel sweeteners in a wide range of applications is becoming more popular. The growing dairy, confectionery, and bakery industry, especially in South Asia markets is expected to boost the sales of novel sweeteners.

Key Takeaways from the Novel Sweeteners Report:

The global novel sweetener market is expected to reach a valuation of US$ 1,926.4 million by 2033.
Global demand for novel sweeteners is likely to surge at 6.1% CAGR over the forecast period.
Based on product type, the stevia-extracted novel sweetener segment is anticipated to reach a valuation of US$ 911.2 million by 2033.
Europe is projected to hold a dominant value share of 24.8% in the global market by 2033.
The United States novel sweeteners market is projected to reach a valuation of US$ 296.5 million by 2033.
India’s novel sweetener market is estimated to witness a value CAGR of 7.1% during the projection period.

“The rising demand for novel sweeteners demonstrates a shift in consumer preferences toward natural, low-calorie, and diabetic-friendly sweeteners. In addition to it, these sweeteners provide opportunities to manufacturers to create flavors with tailored taste profiles” – says a lead analyst at Future Market Insights (FMI).

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Who is Winning?

Nestlé S.A, Cargill Inc., Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, E. I Dupont De Nemours and Company, Koninklijke DSM N.V., Symrise AG, Ajinomoto Corporation Inc, Raizen S.A, Associated British Foods Plc, and Wilmar International Limited are key novel sweetener manufacturers listed in the report.

These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market.

For instance,

In December 2020, Sweet Green Fields (SGF), a global stevia solutions business was acquired by Tate & Lyle as a strategic move to enter the fast-growing market of the Asia Pacific region.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Novel Sweeteners industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the novel sweeteners market based on product type (stevia extracts, tagatose, trehalose), end-use (food & beverages, pharmaceuticals, direct sales, baby snacks, and others), application (bakery goods, sweet spreads, confectionary and chewing gums, beverages, dairy products, and others), across several regions.

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Novel Sweeteners Market by Category

By Product Type:

Stevia Extracts
Tagatose
Trehalose

By End Use:

Food & Beverages
Pharmaceuticals
Direct Sales
Baby Snacks
Others

By Application:

Bakery Goods
Sweet Spreads
Confectionary and Chewing Gums
Beverages
Dairy Products
Others

By Region:

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

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Intrusion Detection System Market Poised for Remarkable Expansion, Expected to Reach US$ 15.62 Billion by 2032

A global intrusion detection system market refers to the business and industry landscape that revolves around the development, deployment, and management of intrusion detection systems.

The market for intrusion detection systems is anticipated to grow at a 12.5% CAGR, reaching US$ 15.62 billion by 2032. In 2022, the market is anticipated to be worth US$ 4.81 billion.

In order to detect policy violations and malicious activities, an intrusion detection system (IDS) monitors system or network activity. Next, the system creates reports that will be delivered to a management station. The adoption of intrusion detection systems by various commercial enterprises has been significantly influenced by the growing awareness of cyber threats and hacking.

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The intrusion detection system market is experiencing substantial global growth with a significant Compound Annual Growth Rate (CAGR). Various industries, such as telecommunications, banking and financial services (BFSI), and defense, are increasingly embracing intrusion detection systems to safeguard their sensitive data and prevent security breaches. During the projected period, the adoption of intrusion detection systems is on the rise as they effectively monitor and identify unauthorized activities and potential threats within computer systems.

These systems come in two main types: host-based intrusion detection systems and network-based intrusion detection systems. Host-based systems focus on individual computers or devices, while network-based systems oversee the broader network to ensure comprehensive protection.

North America continues to lead the market for intrusion detection systems, and this trend is expected to persist in the future. This is primarily due to increased government investments in data safety and security, a strong and well-established IT industry, and growing awareness of security solutions among the public.

Intrusion Detection System Market: Drivers and Restraint

The market for intrusion detection systems worldwide is expected to grow fast throughout the forecasted period. The growth of the global intrusion detection system market is being driven by an increase in security threats to enterprise networks, rising adoption among IT companies, rising spending on IT security solutions and services, and increasing government pressure on compliance with rules and regulations.

On the other side, a significant barrier to the expansion of the intrusion detection system market is a lack of knowledge and awareness of intrusion detection systems. However, during the anticipated period, the market for intrusion detection systems is anticipated to rise significantly due to the expanding security industry in developing nations.

Intrusion Detection System Market: Region-wise Outlook

Based on region, the intrusion detection system market can be segmented into seven regions which include, North America, Latin America, Western Europe, Asia-Pacific (excluding Japan), Eastern Europe, Japan, and Middle East & Africa region. Further, the market is sub-segmented as per the major countries of each region to provide a better regional analysis of the intrusion detection system market. North American region is expected to dominate the global Intrusion Detection System Market during the period forecast.

It is because of high-security awareness and increasing government spending on data safety & security. However, the growing security market in developing economies is expected to drive the growth of the intrusion detection market in the region during the forecast period. Asia Pacific region is expected to witness a high growth rate during the period of forecast. Furthermore, increasing investment in infrastructure and development of data centers by major IT companies is expected to drive the growth of the intrusion detection system market in the Middle East & Africa region.

Leading Key Players:

Tyco International Ltd.
Corero Network Security, Inc.
Robert Bosch LLC
Extreme Networks, Inc.
Juniper Networks, Inc.
McAfee, Inc
NSFOCUS, Inc.
Nortek, Inc.
Allegion plc

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Intrusion Detection System Market Segmentation:

By Type:

Host Based Intrusion Detection System (HIDS)
Network-Based Intrusion Detection System (NIDS)
- Online NIDS
- Off-Line NIDS

By Deployment Type:

On-Premises Deployment
Cloud Deployment

By Service:

Design and Integration Services
Managed Services
Training & Education
Consultancy Services

Region:

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

Authored By:

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

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

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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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Session Border Controller (SBC) Market Growth: Anticipated US$ 1200 Million by 2032 Driven by 5.4% CAGR

The Session Border Controller (SBC) market refers to the market for devices or software solutions that are used to secure and manage communication sessions in Voice over IP (VoIP) networks. Session border controller play a crucial role in ensuring the security, interoperability, and quality of real-time communication sessions, such as voice calls and video conferences, over IP networks.

The global Session Border Controller market is anticipated to be valued at US$ 709 million in 2022, increasing at a 5.4% CAGR to US$ 1200 million by 2032. Shifting enterprise preferences away from public switched telephone network (PSTN) lines and towards IP telephony or voice over internet protocol (VoIP)-based private branch exchange are among the significant factors expected to create numerous opportunities for market growth during the forecast period.

Future Market Insights has recently published a market research report on the Global Session Border Controller (SBC) market. The study presents a detailed analysis of the historical data and current and future market scenarios for the Session Border Controller (SBC) market.

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The report presents an in-depth analysis of key growth drivers and trends that are likely to impact the market in upcoming years. With the adoption of cloud computing and artificial intelligence, the technology industry is expected to witness healthy growth over the forecast period. Increasing competitive pressure and advanced digital transformation in the area of data analytics and artificial intelligence are likely to improve the growth outlook for the Session Border Controller (SBC) market in the upcoming decade.

According to the FMI’s report, Changes in consumer behavior, robust product innovations, and expanding distribution networks continue to influence growth of the Session Border Controller (SBC) market. FMI’s analysts rely on unique research methods and comprehensive data study of the current and upcoming trends of the Session Border Controller (SBC) market report and gather data from a wide range of primary and secondary sources.

Leading Key Players:

Acme Packet Inc.
AudioCodes Ltd
Cisco Networks
Genband Inc.
Huawei Technologies Co. Ltd
Sonus Network Inc.

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Key Segments:

By Product Type:

Enterprise SBC
Service Provider SBC
Hybrid SBC

By End-Use Industry:

Public Sector
Manufacturing
Transportation
BFSI
Healthcare
IT & Telecom
Energy & Utility
Media & Entertainment
Retail

By Region:

North America
Western Europe
Eastern Europe
APEJ
Japan
Latin America
Middle East & Africa

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Session Border Controller (SBC) Market: Projected to Reach US$ 1200 Million by 2032 with a 5.4% CAGR

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Leading Key Players:

Acme Packet Inc.
AudioCodes Ltd
Cisco Networks
Genband Inc.
Huawei Technologies Co. Ltd
Sonus Network Inc.

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Key Segments:

By Product Type:

Enterprise SBC
Service Provider SBC
Hybrid SBC

By End-Use Industry:

Public Sector
Manufacturing
Transportation
BFSI
Healthcare
IT & Telecom
Energy & Utility
Media & Entertainment
Retail

By Region:

North America
Western Europe
Eastern Europe
APEJ
Japan
Latin America
Middle East & Africa

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Compressed Air Filtration and Dryer System Market Anticipated impressive CAGR of 5.7% by 2033

The compressed air filtration and dryer system market is poised for substantial growth, projected to maintain an impressive Compound Annual Growth Rate (CAGR) of 5.7% throughout the forecast period. By 2023, the market is anticipated to achieve a revenue milestone of US$ 5.69 billion, with further expansion expected to propel it beyond US$ 9.91 billion by 2033.

The escalating demand for superior-quality compressed air, particularly in diverse industrial applications, remains a pivotal driving force behind the proliferation of air compressor and dryer systems. This necessity is accentuated by the proliferation of industrial facilities in emerging economies, which is poised to fuel a heightened rate of sales for compressed air filtration and dryer systems in the foreseeable future.

Given that atmospheric air harbors considerable moisture in vapor form, it becomes imperative for compressed air systems to undergo thorough drying and filtration procedures before deployment in industrial processes. Consequently, the market for equipment designed to eliminate water and other impurities from compressed air streams has witnessed a surge in sales in recent years, reflecting the growing recognition of the critical role played by compressed air filtration and drying systems in ensuring operational efficiency and product quality across various industries.

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Market Dynamics

The growing recognition among small-scale industrial operators regarding the advantages conferred by integrating air compressor filters and dryers into their machinery and equipment has resulted in a notable uptick in sales.

In various industrial settings, such as industrial refrigeration systems or point-of-use water treatment plants, the utilization of compressed air filtration devices has become indispensable to mitigate the buildup of contaminants. These specialized desiccant filters for air compressors not only deter water accumulation but also curtail maintenance expenses associated with equipment corrosion.

Given their pivotal role in enhancing production system efficiency, these air dryer filters are poised to witness heightened demand from key manufacturing sectors. As the business activities of automotive, oil and gas, and chemical industries expand, the market for inline desiccant air dryers is expected to experience a significant surge in demand over the forecast period.

Recent Developments

Several leading companies in the industry have made significant advancements in the development of innovative air drying technologies:

Atlas Copco Ltd unveiled its latest breakthrough, the Cerades desiccant dryer, in November 2021. Engineered with exceptional efficiency, this dryer is tailored to meet the stringent requirements of pharmaceutical and food & beverage companies.

Parker-Hannifin, in May 2021, introduced a cutting-edge desiccant air dryer renowned for its ability to deliver oil-free compressed air through technical precision. This innovation is expected to bring significant advantages, particularly to the rental industry, owing to its incorporation of an oil removal filter.

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Donaldson Company launched a revolutionary smart dryer solution in March 2021, designed specifically for manufacturing facilities seeking effective condensate removal. This versatile air dryer not only ensures compressed air drying but also serves as an efficient solution for condensate management.

Furthermore, industry leaders like Atlas Copco, Parker-Hannifin, and Ingersoll Rand have expanded their product portfolios to include a wide range of advanced drying solutions. Atlas Copco introduced the MDG compressed air dryer featuring freeze-in control lines and anti-corrosion properties, along with a variety of desiccant dryers, refrigerated dryers, and membrane dryers. Parker-Hannifin also launched an array of drying solutions, including desiccant dryers, refrigerated dryers, gas layers, hybrid dryers, and membrane dryers. Ingersoll Rand introduced innovations like the activated carbon tower 30, D-EC cycling refrigerated dryers, NL module coalescing filters, and externally heated desiccant dryers, further pushing the boundaries of air drying technology.

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI 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.

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In-Memory Analytics Tools Market Set to Surge, Forecasts US$8.09 Billion by 2032 with 25% CAGR

The global in-memory analytics tools market is expected to reach US$ 1.65 billion in 2022 at a CAGR of 25%, surpassing US$ 8.09 billion by 2032. In-memory analytics is a platform for running queries and interacting with data stored in the main memory disc rather than hard disc.

In the recent past, analytics and reporting have changed dramatically. In the mid-to-late 70s, information was used to abstract from mainframe systems and transferred to spreadsheets for analysis. As technologies have matured, the advent of service-based architecture has become noticeable and emerged as what is now known as business intelligence (BI).

However, the advent of in-memory analytics has increased the expectation of organizations from BI solutions. In-memory analysis delivers rapid access to interactive dashboards that users can build and modify easily as it query data in random access memory.

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Global In-Memory Analytics Tools Market: Drivers

The availability of a number of cost-effective analytics solutions is encouraging more end users to invest in in-memory analytics tools for improving business operations. The in-memory analytic tools provide supportive coordination between the queried data and the primary memory, and shorten the query response time, and allow analytics applications and business intelligence to support faster business decisions. The aforementioned are some of the factors that are increasing the adoption of in-memory tools across verticals, hence fueling the growth of the market.

Global In-Memory Analytics Tools Market: Restraints

Lack of awareness across industries especially in emerging markets such as India, China, Brazil and Argentina, regarding the benefits of in-memory data analytics tools for enhancing business operations and high initial cost associated with the implementation of in-memory data analytic tools are expected to hinder the growth of this market to some extent.

Global In-Memory Analytics Tools Market: Competitive Landscape

Key players in the global in-memory analytics tools market focus on the introduction of advanced solutions and services in order to improve their product offerings and strengthen their position in the market. For example in 2014, Microsoft extended the features of SQL server and introduced an advanced version namely SQL Server 2014. This new version of the SQL server enables users to accelerate transactional applications by up to 30 times and transact and analyze the data in real-time.

Leading Key Players:

Microsoft Corp
IBM Corp
Oracle Corp
Aerospike Inc.
Altibase Inc.
Couchbase Inc.
DataStax Inc.
EXASOL AG
Quartet Resources Ltd.
Redis Labs Inc.
Others

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Key Segments Profiled in the In-Memory Analytics Tools Market

By Service:

Consulting
Implementation Service
Integration Service

By Vertical:

Manufacturing Sector
Public Sector
BFSI
Media & Entertainment Sector
IT & Telecom Sector
Retail Sector
Energy and Utility Sector

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa

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Microcontroller Socket Market Growth on the Horizon, Envisioned to Reach US$ 2497.5 Million by 2032

The global microcontroller socket market is forecast to be valued at US$ 1236.3 million in 2022 and will exceed US$ 2497.5 million in 2032, at a CAGR of 7.3% during the forecast period (2022-2032). It is expected to grow.

Socket manufacturers are constantly developing new designs to interconnect solutions for fine pitch, high I/O, and low profile applications and achieve stringent specifications for reliability and performance.

Gradually reducing package size in the microelectronics industry has had a positive impact on the microcontroller socket market growth. Industrial requirements such as higher density, improved operating speed, and lower power have driven the industry packaging, which has further increased the demand within the microcontroller socket market.

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Microcontroller Socket Market: Driving Factors and Challenges

Cost reduction is a key driver in the IC manufacturing industry. Advances in technology help meet the requirements of cutting-edge electronic systems. Nevertheless, when an IC manufacturer is given the option of controlling costs or leveraging the most advanced technologies, his options will most likely lean towards minimizing costs, and the same is true in the microcontroller socket market.

The major challenge faced by the Microcontroller Socket market is the intense competition among the leading vendors in this market, which does not allow the market to grow.

Microcontroller Socket Market: Competitive Landscape

main contract

In October 2016, STMicroelectronics acquired NFC and RFID reader assets, strengthening its portfolio of secure microcontrollers for next-generation mobile and Internet of Things devices.

In September 2012, Sensata Technology Inc. acquired WELLS-CTI Inc., a product division known as Qinex that designs and manufactures sockets for the semiconductor industry. WELLS-CTI Inc. specializes in manufacturing test sockets, including microcontroller sockets.

main players

Key players in the microcontroller socket market include Intel, Loranger International Corporation, Aries Electronics Inc., Enplas Corporation, FCI, Johnstech International Corporation, Mill-Max Mfg. Corporation, Molex Inc., Foxconn Technology Group, Sensata Technologies BV, Plastronics Socket Company Inc., Tyco Electronics Ltd., Chupond Precision Co. Ltd., Win Way Technology Co. Ltd., 3M Company, Enplas Corporation, Yamaichi Electronics Co. Ltd. and Johnstech International Corporation

Microcontroller Socket Market: Regional Overview

On the basis of geography, the microcontroller socket market can be segmented into five major regions: North America, Latin America, Europe, APAC, and Middle East & Africa. Among various regions, the microcontroller socket market in APAC is expected to dominate during the forecast period due to the adoption of microcontroller sockets in several industries to implement automotive and medical industry products. The Asia Pacific region is expected to be followed by North America and Europe.

In North America and Europe, the microcontroller socket market is growing gradually due to the presence of both large and small IC manufacturers in these regions.

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Key Segments:

By Product:

SOIC
SOP
BGA
QFP
DIP

By Application:

Consumer Electronics
Medical Devices
Industrial
Automotive
Military & Defense

By Region:

North America
Latin America
Asia Pacific
Europe
MEA

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Healthcare Business Intelligence Market Poised for Explosive Growth at a CAGR of 8.1% by 2032

The global healthcare business intelligence market is on a surge, propelled by a projected Compound Annual Growth Rate (CAGR) of 8.1% from 2022 to 2032. This translates to a significant market expansion, with a valuation expected to reach a staggering US$ 7.4 Billion by 2032, compared to US$ 3.4 Billion in 2022.

This remarkable growth is driven by the transformative power of healthcare business intelligence (BI) solutions. These sophisticated data analytics tools empower healthcare organizations to streamline operations, elevate patient care, and make data-driven decisions for optimal outcomes.

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Data-Driven Revolution in Healthcare:

In today’s dynamic healthcare landscape, data has become an indispensable asset. Healthcare providers striving to deliver exceptional patient care while optimizing operational efficiency leverage data-driven insights. Healthcare business intelligence has emerged as a powerful force in this data-driven revolution, transforming how healthcare businesses operate.

Unlocking Insights, Streamlining Processes, and Improving Outcomes:

Healthcare BI empowers stakeholders with robust analytics and reporting capabilities. This allows them to uncover valuable insights, streamline processes, and ultimately achieve better outcomes. By leveraging BI solutions, healthcare organizations can:

Gather, analyze, and visualize vast amounts of data from diverse sources, including financial systems, operational databases, and electronic health records (EHRs).
Gain a holistic view of patient demographics, resource utilization, and financial performance by merging and integrating this data.
Make informed decisions based on a wealth of data, enabling identification of trends, patterns, and areas for improvement.

The Expanding Data Landscape in Healthcare:

The ever-deepening integration of various technological platforms and devices within the healthcare sector has led to a surge in the volume of data collected by healthcare institutions. Efficiently managing this information from disparate sources is crucial to unlocking the most valuable insights.

Factors Fueling Market Growth:

The healthcare business intelligence market is poised to benefit immensely from several key trends:

Government initiatives promoting EHR adoption
The rising patient population
The burgeoning role of big data in healthcare
The expansion of patient registries

These factors are expected to significantly accelerate the growth of the healthcare business intelligence market in the coming years.

FMI, a leading provider of healthcare BI solutions, is at the forefront of this exciting market transformation. We offer a comprehensive suite of tools and services that empower healthcare organizations to leverage the power of data for improved decision-making, operational efficiency, and ultimately, better patient care.

Key Takeaways:

In 2021, the cloud-based delivery mode segment had the biggest healthcare business intelligence market share, accounting for 47.5 percent.
In 2021, healthcare payers contributed 39.0 percent of total revenue. The market is expected to grow due to a rising requirement for provider network optimization, as well as the adoption of various healthcare business intelligence solutions to efficiently reduce operating costs and increased competition among payers.
Over the projection period, the healthcare manufacturers category is expected to increase at a significant rate. The existence of a significant number of pharmaceutical and medical device producers in both developed and emerging nations is one of the main reasons for the segment’s strong revenue growth.
The Indian market size is expected to grow at a CAGR of 12.8%, with the global healthcare business market valuation likely to reach US$ 684 Million by 2032.
As per the global industry analysis, due to increased policy measures, Asia Pacific is expected to be the most lucrative regional market throughout the projected period, as healthcare providers and businesses become more aware of business intelligence tools.

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Competitive Landscape:

The healthcare business intelligence market is moderately competitive, with a number of large and growing firms. The market’s expansion has been aided by product innovation and continuous R&D activities to produce improved technologies.

Due to their strong global footprints, large product portfolios, and a greater focus on innovations in healthcare business intelligence solutions, Oracle Corporation, Microsoft, and Sisense Inc. are among the few main competitors accounting for the majority of the market share.

Key Players:

IBM Corporation
Microsoft
Oracle Corporation
OpenText Corporation

Key Segments:

By Function:

Clinical Analytics
Financial Analytics
Operational Analytics

By Deployment:

On-Premise
Cloud-Based

By Deployment:

Self-service BI
Corporate BI

By Region:

USA
Brazil
India
China
Japan

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