Market Research Blog – Page 3507 – New Product Development

Audio Communication Monitoring Market Hits Striking US$ 9.6 Billion Benchmark by 2033, Fueled by Robust 16.6% CAGR Growth

The global audio communication monitoring market is projected to be worth approximately US$ 2,070.2 million in the year 2023. It is anticipated to experience substantial growth at an annual rate of 16.6%. This growth is expected to continue, and by the year 2033, the market is forecasted to reach a value of around US$ 9,643.7 million.

Audio communication monitoring analyzes audio conversations and finds structures in interactions and reveals insights provided by employees to clients and customers. This technology is used to extract important business intelligence data to relate it to the strategy for making strategic decisions for the company.

Audio communication monitoring solutions generally revolve around the call recording feature. The recording, processing and then analyzing are the parts of the audio communication monitoring market.

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In this report, the global audio communication monitoring market is tracked in terms of value, and is calibrated to obtain the market revenue estimates. However, the revenue generation from only some specific solution type and lack of awareness among BPOs in some countries, globally, are some of the major challenges that hamper the growth of the audio communication monitoring market.

Audio Communication Monitoring Market: Segmental Insights
To understand and assess the demand and opportunities in this market, the report is categorically split into five major sections, namely, market analysis – by component, by industry, by enterprise type, by application and by region.

On the basis of component, the market is segmented into solutions and services. The solutions segment is further divided into quality analysis, audio loudness, metering and monitoring call recording, and others. Services segment is further segmented into maintenance and support services, and professional services.

The North America audio communication monitoring market is expected to witness the highest growth in the global market owing to efficient network management and the increasing number of operating BPOs in the region.

Leading Key Players:

AudioCodes Ltd.
Behavox Ltd.
Avaya Inc.
Cisco Systems, Inc.
Enghouse Interactive Inc.
NICE Systems Ltd.
Nuance Communication, Inc.
Tata Communications Ltd.
Intelligent Voice
Nectar Services Corporation
Fonetic
Ameyo

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Audio Communication Monitoring Industry Segmentation:

By Component:

Solutions
- Quality Analysis
- Audio Loudness
- Metering & Monitoring
- Call Recording
- Others
Services
- Maintenance and Support Services
- Professional Services

By Industry:

Banking, Financial Services, and Insurance
Government
Telecommunication & IT
Media & Entertainment
Healthcare
Others

By Enterprise Type:

Small & Medium Enterprises
Large Enterprises

By Application:

Law Enforcement Agencies
Enterprise Employee Monitoring
Broadcast Monitoring
Sales and Internal Communication Monitoring
Others

By Region:

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

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

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Parental Control Software Market Expected to Reach US$ 389.2 Million by 2033, Fueled by a Robust 9.4% CAGR

The parental control software market is projected to see substantial growth, with an estimated value of US$ 136.4 million in 2023, compared to the recorded US$ 124.6 million in 2022. Anticipated to maintain a robust Compound Annual Growth Rate (CAGR) of 9.4% from 2023 to 2033, the market is expected to reach a valuation of US$ 389.2 million by 2033.

The Parental Control Software market includes technology and services that assist parents in monitoring and controlling their children’s online activities, such as internet usage, social media use, and gadget usage. The industry is driven by the desire to protect children from online threats such as cyberbullying, improper content exposure, and technological misuse. Screen time management, site filtering, and activity tracking are all important elements of parental control software. Norton, Qustodio, Kaspersky, and Net Nanny are among the major players in this industry.

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Parental control software allows parents to monitor their children’s online activity, block and filter harmful content and websites, establish time limits for when they can be online, and observe their communications and browsing trends. Because of the extensive usage of laptops, PCs, and tablets in schools, tracking technology must now be installed to filter content and apply site limitations.

Analysis of the Parental Control Software Market by Category
Will Parental Control Software for Android Remain the Industry Standard?
In 2022, sales of parental control apps for Android platforms will make up 77.7% of all sales, predicts FMI. Due to increasing convenience in terms of device size, there has been an increase in child smartphone ownership across all continents, which has led to this increased market share.

Additionally, users are purchasing Android-compatible smartphones due to the simplicity of software operation and agility offered by android based applications. Asia is expected to see a particularly large increase in demand for parental control apps based on Android.

Leading Key Players:

Norton
Kaspersky Lab
Qustodio LLC
Mobicip
uKnow.com Inc.
Salfeld Computer GmbH
FamilyTime
SafeDNS Inc.
mSpy
BitDefender
Content Watch Holdings Inc.
TeenSafe Inc.
Bark

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Parental Control Software Industry Segmentation:

By Deployment:

On-Premise
Cloud

By Platform:

Android-based
iOS-based
Windows-based

By Region:

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

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Supercapacitors Market Set to Surge: Forecasts 14.8% CAGR, Aiming for US$ 7.99 Billion by 2033

The supercapacitors market is predicted to be worth US$ 2.01 billion in 2023 and rise to US$ 7.99 billion by 2033. The global industry is expanding at a CAGR of 14.8% from 2023 to 2033.

Small devices like smartwatches and headphones can be powered by supercapacitors. To provide faster charging and longer battery life, they can also be used with batteries. The expansion of the market is attributed to numerous studies being done to develop new solutions based on the current supercapacitor technology.

Continuous operation requires supercapacitor charging and discharging, in addition to supporting peak loads and backup power. It comprises industrial battery-powered gadgets including smart meters, video doorbells, smoke detectors, and medical gadgets. Several suppliers are introducing new products to assist this.

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Profitable Market Opportunity

Unlike normal batteries, which discharge the same function much more slowly, supercapacitors charge and supply energy at a rapid rate.
These capacitors operate quickly across very high cycles thanks to their fast-acting electrodes and electrolytes. This makes them an excellent replacement for conventional batteries in a variety of applications.
Also, they are eco-friendly and eliminate the possibility of generating harmful wastes, which favorably impacts market growth.

Key Takeaways from the Supercapacitors Market Report:

By 2033, the supercapacitors market in the United Kingdom is likely to expand, with a CAGR of 19.3%.
By 2033, the United States is likely to lead the supercapacitors market with a CAGR of 12%.
The supercapacitors market was significantly expanding, with a size of US$ 1.75 billion in 2022.
The market is anticipated to expand at a valuation of US$ 3.04 million by 2026, as a result of the surging need for sustainable energy.
Due to the market’s potential opportunities and emerging technologies, analysts expect it is likely to rise 1.14 times between 2022 and 2023.
Based on end use, the automotive segment dominated the market in 2022 and continued to lead, with a market CAGR of 7% by 2033.
Based on type, the electric double-layer capacitors led the market share in 2022 and continues to lead the market during the forecast period.

Effective Techniques for Raising the Profits of Key Players

Key rivals presently control a bulk of the market. These firms, who hold a sizable portion of the market, concentrate on expanding their clientele abroad. Supercapacitors can be customized to meet the particular needs of different customers, helping manufacturers to increase their profit margins.

They distinguish themselves from their competitors, develop a committed clientele, and can charge more by offering tailored goods.

Key Players:

Maxwell Technologies
KEMET Corporation
CAP-XX
Eaton
AVX Corporation
Murata Manufacturing Co. Ltd.
Nippon Chemi-Con
Blue Solutions
Panasonic Corporation

Recent Developments:

Godi India announced the creation of supercapacitors in September 2022 to lengthen the battery life in electric vehicles.
In August 2022, Kyocera AXA unveiled a range of pouch-style supercapacitors to lessen current surge batteries. These capacitors can be used in conjunction with primary or secondary batteries or as a stand-alone backup power source for systems, occasionally replacing batteries.
In February 2022, a deal was signed to provide CAP-XX DMT220 prismatic supercaps for one of Continental Automotive GmbH’s significant automobile programs. A Tier 1 automotive supplier is Continental Automotive GmbH.

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Key segments:

By Type:

Electrical Double Layer Capacitors
Pseudo-capacitors
Hybrid Capacitors

By Application:

Consumer Electronic Devices
Automobiles
Grid Stabilization
Trains
Locomotive Systems (Cranes and Elevators)
Aircraft
Others

By End Use:

Automotive and Transportation
Industrial
Electronics
Energy and Power
Military and Defense
Aerospace and Aviation
Others

By Region:

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

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Talent Acquisition & Staffing Technology and Services Market: Projected Surge Towards US$ 196 Billion by 2028

The global talent acquisition & staffing technology and services market is expected to reach approximately US$ 140.7 billion in the year 2022. Looking ahead, it is projected to grow at a steady rate of 5.7% annually, ultimately reaching a total value of around US$ 196 billion by the year 2028.

Talent acquisition & staffing technology and services currently account for around 13% share of the global human capital management market. Demand for marketing and advertising is likely to surge at a CAGR of 12% over the assessment period of 2022 to 2028.

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Market value of talent acquisition & staffing technology and services registered around 5.8% CAGR historically, from 2013 to 2021.

In the war to hire rock star candidates, the global talent acquisition & staffing technology and services market is undergoing a sea change. However, true potential will be unlocked only when organizations focus on the power of machine intelligence wherein experts build a knowledge graph of the existing workforce and the positions required within an organization.

This data-driven knowledge graph will broaden the scope; hiring companies will no longer have to manually dig through thousands of candidate applications and can leverage intelligent recommendations through machine learning. While machine learning would automate various repetitive aspects of the recruitment process, it would also help identify top candidates from large talent pools on job boards.

Talent acquisition solutions play an important role in strengthening the growth fabric of organizations. With the economy improving and given the significantly low employment rate, candidate sourcing has become a challenge. To overcome this, strategies around HR marketing are being built to impart more control over outcomes pertaining to talent acquisition.

Organizational thrust is more on employer branding, brand messaging and employee engagement initiatives to attract and retain the best talent pool. Also, while employer branding plays a very important role in the sourcing and recruitment process as it provides an identity, image, and distinctiveness to the organization, it also helps motivate, engage and retain current employees.

Growth in the talent acquisition software market has led to the evolution of many technologies that are revolutionizing the recruitment landscape. To enhance the talent acquisition process and bring in more effectiveness, recruiting organizations are moving towards interactive hiring that requires extensive communication with the applicants in addition to the basic sourcing and recruitment process.

What Makes North America a Prominent Regional Market for Talent Acquisition & Staffing Technology and Service Providers?

The North America talent acquisition & staffing technology and services market accounts for 38% share of the global talent acquisition & staffing technology and services market.

Social media’s growing influence and the usage of Applicant Tracking Systems (ATS) as important drivers of organizational hiring decisions. The increased usage of advanced technologies by businesses for the purpose of recruitment is driving market expansion.

Country-wise Analysis

How is the U.S. Market Shaping Up for Talent Acquisition & Staffing Solution and Service Providers?

Growing demand for recruitment solutions across businesses and rising adoption of modern technologies, the presence of prominent companies are driving the market growth in the U.S.

In addition, increasing adoption of smartphones and rising internet penetration in the United States are driving talent acquisition software and services demand growth.

Why is China Witnessing Positive Growth in Talent Acquisition & Staffing Technology and Services?

The China talent acquisition & staffing technology and services market accounts for the highest share in the global market and is expected to maintain its dominance over the coming years.

Rapid economic expansion, digitalization, globalization, and the growing usage of high-performance technologies are all contributing to the growth of the market in China.

Category-wise Insights

Which Category of Talent Acquisition & Staffing Technology and Services is Majorly Driving Market Expansion?

Marketing and advertising are expected to witness the highest demand in the global market for talent acquisition services. Demand for marketing and advertising is projected to expand 2X by 2028.

Recruitment marketing is the practice of attracting, engaging, and nurturing good talent even before the candidates apply for a particular role within the organization. Today, hiring managers to use the power of reporting and analytics and deploy advanced CRM tools to source the best talent in the job market.

Organizations are realising the importance of marketing and advertising, and are increasingly adopting employer branding, recruitment marketing, and job posting activities through different channels to promote their brands in the job market.

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Will Demand for Other Internet Platforms Increase Over the Coming Years?

Other internet platforms are expected to account for over 43.7% share of the global market for talent acquisition & staffing software and solutions in 2022.

The increasing use and adoption of modern technology such as analytics, cloud, and big data for talent acquisition and staffing are paving the way for the growth of the global talent acquisition & staffing technology and services market. Individuals have started using smart devices such as smartphones, laptops, tablets, etc., for updating their professional profiles to build an online presence and to search for jobs

While other internet platforms act as a marketing tool wherein job seekers can represent themselves to potential employers, it also serves as a suitable job screening mechanism, where employers can use the information available on other internet platforms to acquire a better picture of potential employees. This data is then analyzed by the HR departments of organizations to build a predictive analytics model that helps in sourcing the right candidates.

Other internet platforms are becoming more widely used, resulting in a more efficient talent acquisition process. This is one of the key factors fueling talent acquisition technology and services market expansion.

Leading Key Players:

International Business Machine Corporation
Oracle Corporation
SAP SE
Randstad Holding NV
Linkedin Corporation
PeopleFluent, Inc.
CareerBuilder, LLC
CornerStone OnDemand, Inc.
Saba Software, Inc.
Paycom Software, Inc.
The Adecco Group, ADP, LLC
Workday, Inc.
Ultimate Software Group, Inc.
Skillsoft Corporation
BambooHR, LLC

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Talent Acquisition & Staffing Technology and Services Market Segmentation:

By Category:

Marketing and Advertising
Technologies
Services

By Industry:

Education
Manufacturing
BFSI
Healthcare
IT & Telecommunication
Energy
Retail
Transportation
Others

By Platform:

Internal Referrals
Other Internet Platforms
Social Platforms

By Region:

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

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Backflow Preventers Market Set to Surpass US$ 13.8 billion by 2033

Backflow preventers are crucial components of plumbing systems designed to ensure the safety of potable water supplies. These devices work by preventing the reverse flow of contaminated water back into the main water supply lines, thus safeguarding against the risk of water contamination and ensuring water quality standards are maintained. Backflow preventers are commonly installed in various settings, including residential, commercial, and industrial buildings, as well as in municipal water supply systems.

The global backflow preventers market is poised to reach a valuation of US$ 8.7 billion by the end of 2022. This growth trajectory is attributed to the ongoing efforts of companies in introducing technologically advanced backflow preventers, featuring innovative materials such as stainless steel, ductile iron, and high-performance plastics. Over the forecast period from 2023 to 2033, the market is projected to witness a steady expansion, with an estimated value of US$ 13.8 billion by 2033, reflecting a compounded annual growth rate (CAGR) of 4.5%. In the immediate future, the market is anticipated to achieve a milestone of US$ 8.9 billion in 2023, signaling a promising start to the forecast period.

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Start Up Ecosystem

Emerging entrants in the backflow preventers market, including companies like Tianjin Tanggu Water-Seal Valve Co Ltd, LIKE Valves, and Nugreen Building Technologies (P) Ltd, are strategically leveraging a variety of marketing tactics to enhance their market presence and expand their customer base. These tactics encompass a range of approaches such as:

New Product Launches: Companies are introducing innovative backflow preventer products to meet the evolving needs of customers and gain a competitive edge in the market.
Geographical Expansion: Expanding their reach into new geographical regions allows these companies to tap into previously untapped markets and capitalize on emerging opportunities.
Mergers and Acquisitions: Pursuing mergers and acquisitions enables companies to consolidate their position in the market, acquire complementary technologies or product lines, and achieve economies of scale.
Partnerships and Collaborations: Forming strategic partnerships and collaborations with other industry players, suppliers, or distributors helps in leveraging synergies, accessing new distribution channels, and enhancing market reach.

For instance, Tianjin Tanggu Water-Seal Valve Co., Ltd., a prominent player in China, has strategically positioned itself as a leading supplier of water management valve products by establishing manufacturing plants in key locations. Similarly, American LIKE Valves, established in 2017, has swiftly gained global recognition by offering a diverse range of flow control products and solutions, leveraging advanced mechanical technology and automation systems to ensure product quality and reliability. Meanwhile, Nugreen Building Technologies (P) Ltd., founded in 2010, has focused on developing and manufacturing plumbing and drainage products, aligning its offerings with industry standards to meet the needs of its customers effectively.

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Key Players

Watts Water Technology Company
Emerson Electric Co.
Honeywell International Inc.
Conbraco Industries
Zurn Industries LLC
Caleffi S.p.a.
Hans Sasserath GmBH & Co, KG
W. W. Grainger Inc
Talis Management Holding GmBH
A. R. I. Flow Control

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Automotive Infotainment SoCs Market Surges: Projected CAGR of 8.2%, Valuation to Reach US$ 40.1 Billion by 2033

The automotive infotainment SoCs market is securing a valuation of US$ 18.2 billion in 2023 and is projected to reach US$ 40.1 billion by 2033. The market is capturing a CAGR of 8.2% during the forecast period.

Manufacturers focus on innovating products with the latest advanced technologies to satisfy consumer’s requirements. These manufacturers are growing the automotive sector through their unique, improved, advanced feature products. These advanced automotive infotainment SoCs include driver assistance systems, video processing, voice recognition, and navigation.

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Manufacturers are Focused on Several Strategies, Including:

Integrated Advanced Features: Manufacturers are developing advanced features with better technologies, such as gesture control, driver assistance, and others. These features are easy to make changes while driving the vehicles.
Compatibility with Various Platforms: The manufacturers develop infotainment systems to connect with multiple platforms, including Apple CarPlay, Android Auto, and others.
Collaborating with Key Companies: The manufacturers enhance their reach to target relevant audiences to increase product sales. Therefore, these manufacturers approach key companies already established in the market to collaborate with them with their unique products.
Focus on Autonomous Vehicles: The growing popularity of self-driving and electric cars are highly preferred among users to enhance their experiences. These manufacturers’ design features include charging station locations, real-time traffic data, and advanced driver assistance systems.

Key Takeaways from the Automotive Infotainment SoCs Market Report:

The automotive infotainment SoCs market is registering a CAGR of 8.2% with a valuation of US$ 40.1% by 2033.
The United States is dominating the global market by registering a share of 22.6% during the forecast period.
The United Kingdom is estimated to secure a share of 9.2% in the global market during the forecast period.
By collecting a share of 10.6%, India is significantly growing its global market size.
Historically, the market secured a valuation of US$ 13.4 billion in 2018.

Leading Key Players:

Media Tek Inc
NXP Semiconductors N.V.
Texas Instruments Incorporated
Intel Corporation
Infineon Technologies Inc
Qualcomm Technologies Inc
Renesas Electronics Corporation
NVIDIA Corporation
Microchip Technologu Inc
STMicroelectronics N.V.

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Recent Developments in the Global Automotive Infotainment SoCs Market are:

In 2021, Qualcomm launched its new product Snapdragon Automotive Cockpit Platforms. It was designed with artificial intelligence infotainment systems with 5G connectivity and high-resolution displays.
In 2020, NXP Semiconductors announced its newly launched 8QuadPlus SoCs and I.MX 8QuadMax. They deliver high performance with multiple high-resolution displays.
In 2018, Renesas Electronics launched R-Car Series SoCs. It is designed for next-gen infotainment systems with network connectivity and advanced graphics.

Automotive Infotainment SoCs Market Segmentation:

By Vehicle Type:

Passenger Cars
Commercial Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles

By Application:

Infotainment Systems
Sound System
Head Unit

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

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Explore 7 Destinations in One Sail: Caribbean Cruise Market Booms with 3.0% CAGR and the Anticipated Return of Travel by 2032 | FMI

The Caribbean cruise market is expected to reach a valuation of US$ 1.12 Billion in 2022. Sales are projected to increase at a 3.0% CAGR, with the market size arriving at US$ 1.51 Billion by 2032.

Various attractive tour packages are offered by a number of cruising lines. Travelers who were locked at their homes were eagerly waiting for an opportunity. Cruising lines providing new offers and packages has gained the interest of these travelers.

The cruising lines are also set to make the most out of the opportunity by launching new luxury cruises and exciting activities to add on to the consumer’s cruising experience. Consumers are increasingly interested in unique experiences like Surfing, Wildlife, Northern Lights, Karaoke, bungee trampoline and many more of such adventure activities.

The Centre for Disease Control and Prevention [CDC] has also declared that the Caribbean cruises are out of the pandemic phase. All the authority related handling of the Covid 19 protocols has been handed over to the cruise lines. This has made the booking and travelling easier for the passengers as the cruise lines will be taking care of the safety of their passengers by themselves.

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Besides this, the Caribbean cruises are introducing new routes for cruising which will cover several nations along its path. This will aid attracting the travelers and fulfil their desire of wanderlust.

Government initiatives and growing options in the cruising sector will boost the Caribbean Cruising Market “Says an FMI analyst.

Key Takeaways:

Based on cruise destination, Bahamas is predicted to account for a dominant share of Travelers in the market through 2032.
By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~70%.
In terms of age group, demand in the senior citizens will continue gaining traction through 2032.
Based on packages, Caribbean cruise travelers will continue to opt packaged deals over the normal travel deals.
Caribbean region will have travelers throughout the year but cruising season will have rush in the span from December to April.

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Who is winning?

Leading players in the Cruising market are focusing on smart promotional strategies, advertisements, and new packaged deals to improve sales in the market.

Royal Caribbean
Princess Cruises
MSC Cruises Company
Silversea Cruises
Holland America Line
Star Clippers
Carnival Cruises
Celebrity Cruises
Carnival Cruise Line

Caribbean Cruise Market by Category

By Cruise Destinations Type:

Eastern Caribbean
Western Caribbean
Southern Caribbean
Bahamas
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
56-65 Years
66-75 Years

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Future Market Insights Inc.
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RFID Printers Market: Revolutionizing Supply Chains with Anticipated Worth of US$ 3,750.05 Million by 2033

The RFID printers market is predicted to be worth US$ 1,871.07 million in 2023 and rise to US$ 3,750.05 million by 2033. The global industry is expanding at a CAGR of 7.2% from 2023 to 2033.

The use of RFID tags has increased as a result of the expansion of retail trade. As a result, there is a significant demand for mobile and industrial RFID printers across a variety of asset-intensive industries. The wholesale packets’ RFID chips include information about their contents, and can also trigger an alert if a shoplifter tries to elude detection at the exit.

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RFID printers can be used in retail stores and warehouses to enhance the inventory management process. Another element anticipated to encourage expansion in the global market is rising demand from the healthcare sector for proper administration of patient data and papers.

Another factor anticipated to promote the expansion of the global demand for RFID printers is the transport sector’s growing usage of the technology to track shipping orders. However, the high cost of RFID solutions is likely to hamper the market growth.

Profitable Market Opportunity:

Offering lower-priced products and improving them with the help of RFID printers is a key function that provides maximum profits to manufacturers. Also, it is anticipated that the steadily accelerating printing rates can highly contribute to the global market’s expansion.

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Key Takeaways from the RFID Printers Market Report:

By 2033, the RFID printers market in the United Kingdom is likely to expand, with the CAGR of 7.2%.
By 2033, the United States is likely to lead the RFID printers market with the CAGR of 6.8%.
The RFID printers market was significantly expanding, with a size of US$ 1,745.4 million in 2022.
The market is anticipated to expand at a valuation of US$ 2,305.02 million by 2026, as a result of the surging trend of smart packaging.
Due to the market’s potential opportunities and emerging technologies, analysts expect it is likely to rise 1.07 times between 2022 and 2023.
Based on product type, the industrial RFID printers dominated the market in 2022 and continued to lead, with the market CAGR of 5.9% by 2033.
Based on printing type, the thermal transfer led the market share in 2022, and continues to lead the market with a CAGR of 7.7% during the forecast period.
Based on industry, the retail segment is likely to lead the market with a CAGR of 7.8% by 2033.

Key players:

Zebra Technologies Corporation
Honeywell International
SATO Holdings
Toshiba Tec Corporation
Avery Dennison Corporation
Lexmark
Godex International
Printronix Inc.
BOCA Systems

Recent Developments:

April 2017: Target and Avery Dennison have started working together. With the help of this collaboration, the company introduced RFID technology to more than 1,600 stores, maximizing inventory availability and improving the consumer experience.
February 2018: Honeywell unveiled new cloud-based safety suite software and specialized electronic tags. To keep track of usage, maintenance, and training, the Honeywell Safety Suite software scans the RFID tags. It helps the company increase the number of RFID printers it offers.

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RFID Printers Market Segmentation:

RFID Printers by Product Type:

Desktop RFID Printers
Industrial RFID Printers
Mobile RFID Printers

RFID Printers by Printing Type:

Direct Thermal
Thermal Transfer

RFID Printers by Industry:

Manufacturing
Transportation
Retail
Healthcare

RFID Printers by Region:

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

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The Winning Streak: Australia Casino Tourism Market to Enjoy 6.8% Annual Boost, Aspires for US$ 27,779 Million by 2032 | FMI

The Australia casino tourism market is approximated to reach US$ 15,366 Million in 2022. As per the report, sales are forecast to grow at a robust 6.8% CAGR, with the market evaluation reaching US$ 27,779 Million by 2032.

Due to its abundance of natural resources, geographical beauty, and sunshine, Australia is frequently referred to as the “Fortunate country,” and as a result, travellers from all over the world travel there to view famous sites like the Sydney Opera House, Uluru, and the Great Barrier Reef. You’ll be surprised to learn where most of our visitor’s travel, despite the fact that none of these renowned attractions even come close to competing with Australia’s most popular travel locations.

The most visited place in Australia, according to a list of the top 100 tourist attractions in the world, is Crown Casino Melbourne. This is so that Australian casinos are not subject to the consumer paying casino tax out of their winnings as is the case in the United States. Australian casinos provide a lot more than just places to play games of chance, too.

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The majority of the gaming venues in Australia were founded to boost tourism. Numerous tourists come to the nation each year to gamble, demonstrating the effectiveness of this tactic. Many people think that these tourists spend thousands of dollars before leaving for their own nations. Because so many people gamble in the nation and so many visitors travel there every year, job prospects in the gaming business have increased.

In Australia, the States have traditionally made gambling policy decisions rather than the Commonwealth. Gambling services are regulated and provided by state and municipal governments, who heavily rely on the accompanying tax revenue. But because of recent developments, the Commonwealth has recently been more interested in this region. In response to widespread concern over gambling’s effects on Australian society, the Commonwealth commissioned the Productivity Commission to conduct a study. The commission’s findings have spurred additional debate.

“Online gambling’s impact on taxes and ability to generate income are the main elements propelling the market’s expansion in Australia.” Says an FMI analyst.

Key Takeaways:

Through 2032, Video poker and slot machines are referred to as “pokies.” Pokies are expected to hold a significant market share in terms of Game type.
Age-wise, through 2032, demand will continue to increase in the 50 to 65-year-old range.
Nearly 20 million tourist visit Australia for casinos every year.
Based on type of tourist, International tourists will continue to grow in the forecasted period. Chinese visitors are actually the most common among them.

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Leading players operating in the Australia Casino Tourism Market:

Casino Travel
Trip Advisor
Expedia
Klook
Treasury casino
Rocky gap resort
Australia tour packages
Kesari tours
Thomas cook

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Future Market Insights, in its new offering, provides an unbiased analysis of the Australia Casino Tourism Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on Australia Casino Tourism Market by Game Type (3 Card Poker, American Roulette, Blackjack, Casino Stud Poker, Dice, Punto Banco, and Others) Casino Type (Commercial, Tribal, Limited Stakes, and I-gaming) End Users (Gambling Enthusiasts, Social Exuberant, Dabblers, Lottery Loyalists, Unengaged Audience) Age Group (18-25 Years, 25-35 Years, 35-50 Years, 50-65 Years and 65 Years and Above) Tourist Type (Domestic and International) Consumer Orientation (Men and Women) Tour Type (Independent Traveller, Package Traveller and Tour Group) – Forecast to 2022 – 2032.

Australia Casino Tourism Market by Category

By Game Type, Australia Casino Tourism Market is segmented as:

3 Card Poker
American Roulette
Blackjack
Casino Stud Poker
Dice
Punto Banco
Others

By Casino Type, Australia Casino Tourism Market is segmented as:

Commercial
Tribal
Limited Stakes
I-gaming

By End Users, Australia Casino Tourism Market is segmented as:

Gambling Enthusiasts
Social Exuberant
Dabblers
Lottery Loyalists
Unengaged Audience

By Age Group, Australia Casino Tourism Market is segmented as:

18-25 Years
25-35 Years
35-50 Years
50-65 Years
65 Years and Above

By Tourist Type, Australia Casino Tourism Market is segmented as:

Domestic
International

By Consumer Orientation, Australia Casino Tourism Market is segmented as:

Men
Women

By Tour Type, Australia Casino Tourism Market is segmented as:

Independent Traveller
Package Traveller
Tour Group

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

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Nandini Singh Sawlani

Railway Engine Market Set to Achieve a 4.8% CAGR, Targeting US$ 41.06 Billion Revenue by 2033

Advent of Hydrogen and Electric Engines along with Digitization has thrived Railway Engine Market, FMI records a CAGR of 4.8% for 2023-2033

The railway engine market is anticipated to thrive at an average CAGR of 4.8% between 2023 and 2033. The market is anticipated to reach a market share of US$ 41.06 billion by 2033, while it holds a revenue of US$ 25.6 billion in 2023.

– Advanced hydrogen, electric, and hybrid engines are in high demand as they are fast, efficient, and cheaper than diesel engines, pushing vendors to adopt alternate fuel technologies.

– The restoration of the trade and travel and tourism industries and government railway operations helped the market. Furthermore, research activities and trial runs of hydrogen and electric locomotives are likely to fuel the demand for railway engines.

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– Expansion of railway tracks in emerging economies like India and China is consuming more of the market. At the same time, advancements and beautification of platforms also attract passengers to travel from the cheap and highly convenient rails.

– Growing inflation and skyrocketing fuel prices make end users choose the cheaper option as major trains nowadays run on alternative fuel, saving the environment while not being harsh on end users’ pockets.

– Digital transmission and control systems in global railway systems are likely to make railway engines futuristic and advanced. This helps improve the railway structure while increasing the demand for railway engines.

Key Points

The U.S. market is the biggest for railway engine technology, including freights, loaders, and generators. The U.S. market holds a share of 19.7% of the global share.
The Indian market thrives at the highest CAGR of 6.0% during the forecast period. The market thrives on technological advancements and the government’s transformation of railways.
With its major players, Germany also fuels with a market share of 5.3% as it starts its major electric engine trials.
Chinese market thrives on a CAGR of 5.4% between 2023 and 2033.
The electric segment is expected to thrive in the propulsion category due to its sustainable model and cheaper operational cost. It holds a major share of 56.8% in the global market.

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Competitive Landscape

Key competitors try to make their engines durable, technologically advanced, and efficient. Furthermore, the futuristic approach and digitized transmission open the gate for startups and new technology. Hydrogen-based rail hydrail is likely to expand the market size.

Key players in the market are Bombardier Transportation (Canada), Alstom (France), Hitachi Ltd (U.K.), AEG Power Solutions (Netherlands), Siemens Mobility (Germany), Wabtec Corporation (U.S.), Toshiba International Corporation (U.S.), CZ LOKO, A.S. (Czech Republic), CRRC Corporation Limited (China), and Hyundai Corporation (South Korea).

For instance:

In 2022, France-based locomotive co. Alstom is likely to deliver orders of 800 Electric Engines in the coming five years. The powerful electric engine WAG-12B is in applied of prominent freight tracks and shifting loads
In 2021, Bombardier transportation tied up with Italian intermodal freight operator GTS rail to deliver an order of three TRAXX DC3 E.494 trains for its fleet.

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Key Segments

By Propulsion:

Electric
Diesel

By Technology:

IGBT Module,
GTO Thyristor
SiC Module

Power Conversion Component:

Rectifier
Inverter
Traction Motor
Alternator

End Users:

Passengers
Freight
Shunting

By Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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 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