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)

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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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:

  1. 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.
  2. Geographical Expansion: Expanding their reach into new geographical regions allows these companies to tap into previously untapped markets and capitalize on emerging opportunities.
  3. 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.
  4. 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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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.

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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

About Future Market Insights (FMI):

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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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

Caribbean Cruise Market
Caribbean Cruise Market

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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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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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)

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:        

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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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

Australia Casino Tourism Market
Australia Casino Tourism Market

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

Get More Valuable Insights

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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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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Railway Radiators Market Forecasted to Achieve US$ 882.7 Million by 2033 with a 4.3% CAGR

The railway radiator market is anticipated to expand at a sub-par CAGR of 4.3% between 2023 and 2033. According to projections, the net worth of the railway radiator market would rise from just US$ 5,757.20 million in 2023 to almost US$ 882.7 million by 2033.

The Railway Radiator Market’s Brightest Potential

Over the projection period, it is predicted that the market for railway radiators would grow quickly as demand for railway heat exchangers increases. An increase in the demand for railway radiators is anticipated to have a substantial impact on the railway radiator market in the near future.

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The rising popularity of hybrid powertrains is predicted to be a major factor in the market growth for railway radiators. During the forecast period, the government of various countries is expected to impose strict laws regarding the reduction of carbon emissions from automobiles, which is anticipated to boost market expansion for railway radiators.

The Roadblocks of the Market for Railway Radiator

The recent worldwide economic slump has had a severe adverse effect on the recent sales of railway radiator. The sales of railway radiator have decreased globally as a result of this economic situation.

Such economic downturns are expected to have a significant effect on the railway sector over the forecast period, which is expected to have an impact on the railway radiator market soon.

Regional Outlook

The market for railway radiator is expected to have substantial expansion during the forecast period due to rising demand in growing regions like Asia Pacific and Central & South America. Due to reasons including a slowing economy and market saturation, developed economies like North America and Europe are predicted to experience a moderate demand for railway radiators.

Strict regulatory standards that disregard environmental concerns, especially in developed regions, are thought to have a favourable effect on local markets.

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Key Takeaways

  • During the projection period, the United States market for railway radiators may have a market share of 20.4%.
  • The United Kingdom market for railway radiator has a CAGR of 3.6% between 2023 and 2033.
  • The China market for railway radiator has a CAGR of 5.2% between 2023 and 2033.
  • The India market for railway radiator has a CAGR of 6.6% between 2023 and 2033.
  • During the projection period, the German market for railway radiators may have a market share of 5.1%.
  • During the projection period, the Japan market for railway radiators likely hold a market share of 5.9%.
  • During the forecast period, Australia’s market for railway radiator likely to have a 1.2% market share.
  • During the forecasted period, the train type may account for 64.80% of passenger trains in the railway radiator market.

Competitive Landscape

Denso Corporation, Calsonic Kansei Corporation, TYC Brother Industrial Co. Ltd., Valeo SA, Modine Manufacturing Company, Mahle GmbH, Sciton Inc., Keihin Corporation, PWR Advanced Cooling Technology, Griffin Thermal Products, Sanden Holdings Corporation, and Saldana Racing Products are major players in the global railway radiator market.

Recent Developments

  • Collaboration
  1. Valeo, a French-based global railway radiator supplier, and Honda Powerpack Energy Private Limited, an Indian private subsidiary, teamed with Atul Greethtech Pvt Ltd., a firm that makes electric three-wheelers, on June 21, 2022, to accelerate three-wheeler electrification in India.
  • Acquisition
  1. The transaction was finalised in February 2021 with the transfer of Keihin Corporation’s air conditioning activities from Japan, Thailand, and the USA to MAHLE in Stuttgart, Germany.
  2. Marelli purchased the Calsonic Kansei Corporation in May 2019. The company may be able to expand both the size of its customer base and the quantity of radiators it manufactures.

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Key Segments

By Radiator Type:

  • Down-flow
  • Multi-flow
  • Cross-flow
  • Others

By Material Type:

  • Aluminium
  • Steel
  • Brass
  • Copper
  • Plastic
  • Others

By Train Type:

  • Freight Train
  • Passenger Train
  • Diesel Multiple Units
  • Electric Train
  • Others

By Sales Channel:

  • OEMs
  • Aftermarket

By Region:

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

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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Global Locomotive Drive Shaft Market Poised to Reach US$ 605 Million by 2033, Driven by a Steady 5.3% CAGR

Sustainability and Emissions Regulations Driving Changes in Locomotive Drive Shaft Market

Global locomotive drive shaft market is expected to be valued at US$ 361 Million in 2023 and to reach a valuation of US$ 605 Million by 2033. The demand for locomotive drive shaft is estimated to grow at a steady 5.3% CAGR during the forecast period.

There are several drivers that may contribute to the growth of the locomotive drive shaft market. One key driver is the increasing demand for rail transportation as the global economy grows and more people turn to rail for long-distance travel. Governments around the world may also invest in the expansion and modernization of the rail network, which can drive the demand for locomotive drive shaft.

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The introduction of new technologies, such as electric and hybrid locomotives, can also drive the demand for locomotive drive shaft, as these systems often require specialized drive shafts. As locomotives age, they may need to be replaced due to wear and tear or obsolescence, which can drive the demand for new drive shafts. Finally, as countries experience economic growth and industrialization, there may be an increase in the demand for goods transportation by rail, further driving the demand for locomotive drive shaft.

There are also several restraints that may impact the growth of the locomotive drive shaft market. One restraint is the high cost of manufacturing drive shafts due to the specialized materials and processes involved. This may limit the demand for locomotive drive shaft. Competition from other modes of transportation, such as trucking and air travel, may also limit the demand for rail transportation and drive shafts.

In addition, regulatory and environmental factors, such as emissions standards and the push towards sustainability, may impact the demand for certain types of locomotives and drive shafts.

Key Takeaways

  • The U.S locomotive drive shaft market is expected to hold a 17.4% market share.
  • The market in India is expected to grow at a rate of 4.6%.
  • The solid shaft segment is anticipated to hold a 42.3% market share.
  • The China market is expected to grow at a CAGR of 4.2%.

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Start-up Ecosystem

Startups in the market may benefit from access to funding and support from incubators, accelerators, and other organizations that support the development of new businesses. In addition, startups may be able to tap into networks of industry experts, suppliers, and customers to help them succeed.

Startups may also benefit from the growing trend towards sustainability and the adoption of electric and hybrid locomotives, as there may be increased demand for locomotive drive shafts that are designed for these systems. In order to succeed in the market, startups may need to focus on developing innovative products, building strong relationships with customers, and optimizing their manufacturing and supply chain processes.

Vendor Analysis

In order to succeed in the locomotive drive shaft market, companies may follow a range of strategies. These strategies may include focusing on innovation and product development in order to offer drive shafts that are more durable, cost-effective, and perform better. Companies may also form partnerships and collaborations with other companies in order to access new technologies, markets, and resources.

Diversifying their product portfolios to include a range of drive shafts for different types of locomotives and applications may also be a key strategy for companies. In addition, companies may focus on optimizing their manufacturing and supply chain processes in order to reduce costs and increase competitiveness. Marketing and branding efforts may also be important for companies in order to raise awareness of their products and differentiate themselves from competitors. Providing excellent customer service can also help companies build a loyal customer base and maintain a competitive edge. Finally, companies may look to expand their operations by entering new markets or regions through offices, manufacturing facilities, or partnerships.

  • Amsted Rail: Amsted Rail is a leading manufacturer of railcar components, including drive shafts, for the rail industry. The company has a global presence and is headquartered in Chicago, Illinois.
  • Timken: Timken is a global leader in the design and manufacture of bearings, power transmission products, and other mechanical components, including drive shafts. The company is based in Canton, Ohio.
  • Siemens: Siemens is a global technology company that offers a range of products and services for the rail industry, including locomotives and drive shafts. The company has a presence in various countries with offices and manufacturing facilities in various locations.

Recent Developments

The Dana 60 AdvanTEK solid rear axle with Spicer PerformaTraK electronic locking differential will be supplied by Dana Holdings Corporation for use in the 2021 Ram 1500 TRX pickup truck, as was announced in January 2021.

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Key Segments

By Type:

  • Diesel
  • Electric
  • Hybrid

By End-use industry:

  • Rail transportation
  • Mining
  • Construction
  • Others

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.

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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Rail Wheels and Axles Market Forecast: Projected Growth to US$ 7603.4 Million with a Steady CAGR of 5.6%

During the forecast period, the global rail wheel and axle market is expected to expand at a steady CAGR of 5.6%. At its present growth rate, the global market for rail wheels and axles is expected to be worth $4,402.3 million by the year 2023. In 2033, the demand for rail wheel and axle is projected to reach US$ 7603.4 million.

Due to the growing sophistication of rail networks and trains, as well as the present trend toward autonomous technology, train makers are devoting significant resources to R&D to develop lighter materials for wheels and axles for freight trains, passenger trains, and short-distance trains.

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Nearly 7 billion people take trains each year, and they all want to travel as quickly, easily, and economically as possible. It’s for this reason that the research and development of fully driverless trains is continuing to advance. Computerized monitoring systems installed on autonomous trains can detect problems with rail wheels and axles.

There are numerous benefits to using a solar rail system instead of traditional diesel trains. Diesel-powered trains usually have two engine cars. In contrast, solar-powered trains use solar gears in place of traditional gears. Solar panels have been put on the bogie roofs, and electric motors and batteries have been installed in the second diesel compartment.

The electrical needs of railway engines, which normally require 750 V to 800 V to move the rails, may be met by solar panels set atop trains providing voltages of 600 V to 800 V. Demand for these trains is likely to rise, which is good news for manufacturers of rail wheels and axles.

The rail wheel and axle market is an important segment of the global rail transportation industry. Rail wheel and axle products are essential components of rail vehicles, such as trains, trams, and subway cars, and are used to support and propel these vehicles. There are several factors that are driving the global rail wheel and axle market, including growth in rail transportation, urbanisation and population growth, environmental concerns, and technological advancements.

However, the demand for rail wheel and axle is also facing several restraints or challenges, including high capital costs, cyclical demand, a complex supply chain, competition from other modes of transportation, and regulatory challenges. Despite these challenges, the rail wheel and axle market is expected to continue growing in the coming years, driven by increasing demand for rail transportation and ongoing technological advancements in the industry.

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Key Takeaways

  • It is estimated that the US market for rail wheel and axle will be worth $570.8 million in 2022.
  • Market value in China, the world’s second largest economy, is projected to reach $878 million by 2026, expanding at a CAGR of 6% from 2023 to 2033.
  • Over the projection horizon, both Japan and Canada are predicted to grow at rates of 2.9% and 3.8%, respectively.
  • The demand for rail wheel and axle in Germany is projected to expand by 3.3% this year.

Competitive Landscape

The global rail wheel and axle market is highly competitive, with many companies operating in this space. These companies are engaged in a range of activities, including the production of rail wheels and axles, the repair and maintenance of these products, and the supply of related services.

There are several key players in the global rail wheel and axle market, including Amsted Rail, ArcelorMittal, Bradken, GE Transportation, Klöckner Pentaplast, Lucchini RS, NSSMC, Vyatka, and Wabtec. These companies are well-established players with a strong presence in the market and a reputation for producing high-quality products.

Overall, the global rail wheel and axle market is highly competitive, with a diverse range of companies operating in this space. Companies in the market are constantly seeking ways to differentiate themselves from their competitors, such as through the development of new technologies or the expansion of their product offerings.

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Key Segments in the Global Rail Wheel and Axle Market

By Wheel Type:

  • Monoblock Wheels
  • Resilent Wheels
  • Rubber Tyred Wheels
  • Steel Tyred Wheels
  • Other Special Wheels

By Axle Type:

  • Hollow Axles
  • Solid Axles

By End Use:

  • High Speed Railway
  • Fast Speed Railway
  • Subway
  • Other End Uses

By Sales Channel:

  • OEMs
  • Aftermarket

Region:

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

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   

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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