Global Industrial Robots Market Set to Surpass US$ 25,828.99 Million by 2033, Driven by a Strong 17.20% CAGR

The global industrial robots market is poised for exceptional growth, projected to exceed a valuation of US$ 25,828.99 million by 2033. Driving this remarkable expansion is a robust Compound Annual Growth Rate (CAGR) of 17.20%, starting from a 2023 valuation of US$ 5,282.40 million.

A significant catalyst behind this surge is the innovative concept of Robot-as-a-Service (RaaS), which is reshaping the landscape of factory automation technology. RaaS introduces a flexible and cost-effective approach for enterprises to seamlessly integrate robotics into their operations. By providing subscription-based robot services, businesses can avoid significant upfront investments in robotic equipment, thus conserving capital expenditures. This pioneering approach not only enhances financial adaptability but also empowers companies to respond swiftly and efficiently to market fluctuations.

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Key Takeaways from the Market Study:

  • By end use, electric and electrical industry is expected to procure 40% market share for industrial robots.
  • China is expected to account for 45% of the total Industrial Robots in 2022
  • U.S. is expected to hold 40% market share for industrial robots in 2022
  • France is expected to possess 30% market share for industrial robots

“Industrial robots have the potential to change the functioning of end user industries. Multitasking, precision and accuracy are making industrial robots a popular option across industries. This, in turn, is gaining traction for the same.” states an FMI analyst

Market Competition:

Key players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation and ABB Limited.

  • Denso Corporation, a key player in the industrial robots market is focusing on studying the infrastructure and requirements of end user industries and designing industrial robots for the same.
  • Mitsubishi Electric Corporation, is focusing on research for designing industrial robots. The company is developing industrial robots that can carry out complex tasks easily.

About the Industrial Automation Domain at Future Market Insights:

The industrial automation domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Key Segments Profiled in the Industrial Robots Industry Survey:

Industrial Robots by Product Type:

  • Industrial Robots by Articulated Robots
  • Industrial Robots by SCARA Robots
  • Industrial Robots by Parallel Robots
  • Industrial Robots by Cartesian Robots
  • Industrial Robots by Cylindrical Robots
  • Industrial Robots by Others

Industrial Robots by End Use:

  • Industrial Robots by Automotive
  • Industrial Robots by Electrical & Electronics
  • Industrial Robots by Metals & Machinery
  • Industrial Robots by Chemicals, Plastic & Rubber
  • Industrial Robots by Food & Beverages
  • Industrial Robots by Healthcare
  • Industrial Robots by Construction
  • Industrial Robots by Others

Industrial Robots by Applications:

  • Industrial Robots by Material Handling
  • Industrial Robots by Welding & Soldering
  • Industrial Robots by Assembly & Disassembly
  • Industrial Robots by Painting & Dispensing
  • Industrial Robots by Others

Industrial Robots by Technology:

  • Industrial Robots by Automatic
  • Industrial Robots by Semi- Automatic
  • Industrial Robots by Manual

Region:

  • North America Industrial Robots Market
  • Latin America Industrial Robots Market
  • Europe Industrial Robots Market
  • Asia Pacific Industrial Robots Market
  • Middle East & Africa Industrial Robots Market

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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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North America’s Influence Propels Global Edge Bending Machine Market Towards US$ 385.6 Million by 2032, Driven by a Steady 3.1% CAGR

The global edge bending machine market is experiencing a significant upsurge, poised to surpass a valuation of US$ 385.6 million by 2032, driven by a steady Compound Annual Growth Rate (CAGR) of 3.1% from 2022 onwards. This growth trajectory, initiated by the expanding applications of these machines across various manufacturing sectors, reflects a notable increase from its estimated value of US$ 284.1 million in 2022.

A crucial factor fueling this expansion is the predominant influence of North America within the global edge bending machine market. This dominance is characterized by several key drivers, including a substantial rise in sales volumes across pivotal industries such as automotive and heavy manufacturing. The surge in demand within these sectors can be attributed to factors such as infrastructure development, a flourishing automotive market, and the proliferation of manufacturing activities across the United States, Mexico, and Canada.

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Substrate bending is a fundamental and integral process within the manufacturing industry. Much like other phases of product development, bending alters the configuration of the workpiece while maintaining its original material volume. Edge bending procedures, however, diverge in their methodologies for inducing plastic deformation in the substrate. In this context, attributes such as workpiece material, thickness, and dimensions significantly influence the process.

Bending serves multifaceted purposes, including enhancing the strength and rigidity of sheets or plates, as well as eliminating sharp edges. Furthermore, the edge bending process facilitates the concealment of raw substrate edges through the application of a thin PVC or resinous strip. Tailored for both contoured and straight panel edge bending, edge bending machines contribute to refining the aesthetic aspect of solid or valuable materials. In contrast to conventional methods, which involved manual processes and basic tools, modern edge bending machines bring efficiency and precision to this operation.

Market Drivers and Constraints in the Edge Bending Machine Industry:

The expansion of industrial operations, surging demand for premium furniture, continuous advancements in manufacturing technology, and the rising necessity for automated industrial machinery to curtail waste and enhance productivity stand as primary catalysts propelling the global edge bending machine market’s growth.

Furthermore, the market is buoyed by cutting-edge attributes, including heightened versatility, user-friendly interfaces, precision equipment functionality, and the potential to integrate scraping and brushing components. These features contribute significantly to the foreseeable upswing in the edge bending machine market. However, potential substitutes like molding and face frames could impose constraints on the market’s expansion trajectory throughout the forecast period.

Leading Players in the Edge Bending Machine Market:

The edge bending machine market boasts a roster of notable participants, including SCM Group, SIMCO Industrial Machinery Trd Co Ltd., NTF Korfhage Maschinenbau GmbH, Edge Finisher Co., Yadav Tools Company, Gelber-Bieger GmbH, Adamik Company, Intimate Machine Tools Company, Felder Woodworking Machines Private Limited, Shree Umiya F-Tech Machines Ltd, Shandong Hicas Machinery (Group) Co., Ltd., Kreutz & Mock GmbH, among others.

Key Developments in the Competitive Landscape:

Delta, a prominent player in the market, introduced a high-speed edge banding machine solution in March 2021, aimed at enhancing the quality and appearance of bendings.

In October 2021, SCM Group unveiled the Stefani x Single-sided automatic edge banders. This innovative solution is designed to deliver top-tier processing quality for a wide range of panels and materials, aligning with the demands of a digitally connected and integrated factory.

Mayr-Melnhof Holz, based in Leoben, Austria, executed an agreement in December 2021 to acquire the Swedish sawmill group Bergkvist Siljan from ESSVP IV, with advisory support from Orlando Nordics AB. This strategic move aligns with the consistent expansion and growth strategy of the Austrian wood processing group.

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Key Segments:

Material Type:

  • Polyvinyl Chloride (PVC)
  • Acrylonitrile-Butadiene-Styrene (ABS)
  • Melamine
  • Wood Veneer
  • Acrylic
  • Others

By Product Type:

  • Portable
  • Non-Portable

By Flanges Type:

  • Straight Flange
  • Stretch Flange
  • Shrink Flange

By End Use:

  • Furniture
  • Healthcare
  • Automotive
  • Electronics and Electrical
  • Packaging
  • Other End Uses

By Region:

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

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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global ePayment System Market Soars: Revenues Surge to US$ 78.97 Billion in 2022, Projected to Hit US$ 602.29 Billion by 2033

According to Future Market Insights (FMI), the global ePayment system market will generate US$78,965.6 million in revenue in 2022. By 2033, the market is anticipated to have grown at a CAGR of 20.1% to reach US$ 602,292.2 million. The market is anticipated to be worth US$ 96,401.1 million in 2023.

Nearly 75% of the worldwide payments market is thought to be made up of ePayment system sales. The market for electronic payment systems has expanded significantly as a result of the growing acceptance of contactless payments and e-Payment gateways.

The market for ePayment systems is expanding due to a trend towards mCommerce, internet shopping, digital commerce, and cashless transactions.

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Furthermore, increasing Internet banking and Internet shopping have significantly pushed the use of ePayment system across the globe.  The market for ePayment systems has shown significant growth over the last few years due to the increasing adoption of advanced technologies. With advancements in technology, there has been a rise in the demand for ePayment systems.

Key Takeaways from ePayment System Market Study

  • Based on deployment, the cloud segment is expected to dominate the market through 2031, owing to the rising popularity of cloud computing and analytics.
  • Based on enterprise size, the large enterprises segment is expected to dominate the market through 2031 owing to the growing need to digitize their payment landscape.
  • The BFSI segment is expected to hold the largest share in the global ePayment system market in 2021, based on industry.
  • China will continue leading the East Asia market, registering a CAGR of over 18.9% through 2031.
  • The U.S. market is projected to expand at a CAGR of 18.2% through 2031, owing to the due to early adoption of upcoming technologies and presence of established and upcoming payment technology providers in the country.
  • The UK is anticipated to hold the lead in Europe, exhibiting a CAGR of 18.5% through 2031.

Who is winning?

The moderately consolidated ePayment system market is characterized by players who are increasingly focusing on the development of new product offerings in addition to strategic endeavors towards geographical expansion.

Prominent players in the ePayment system market include but are not limited to ACI Worldwide, Aliant Payments, Alipay, Apple Pay, FIS, Fiserv, Global Payments, Intuit, JPMorgan Chase, Mastercard, PayPal, Paysafe, PayTrace, PayU, Spreedly, Square, Stripe, Visa, Worldline, and 2Checkout, among others.

More Valuable Insights on ePayment System Market

A revised market research report published by Future Market Insights (FMI) on the global ePayment System market includes global industry analysis for 2016–2020 and opportunity assessment for 2021–2031.The report provides valuable insights on the basis of component solution (payment gateway solution, payment processing solution, payment wallet solution, payment security and fraud management solution, and point of sale (POS) solution); and services (professional services, and managed services); deployment(cloud and on-premises); enterprise size (small & medium enterprises (SMEs) and large enterprises); and Industry (BFSI, retail and eCommerce, healthcare, media & entertainment, IT & telecom, transportation & logistics, and others), and across six major regions.

ePayment System Outlook by Category

By Component, ePayment System Demand is segmented as:

  • Solution
    • Payment Gateway Solution
    • Payment Processing Solution
    • Payment Wallet Solution
    • Payment Security and Fraud Management Solution
    • Point of Sale (POS) Solution
  • Services
    • Professional Services
    • Managed Services

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By Deployment, ePayment System Demand is segmented as:

  • Cloud
  • On-premises

By Enterprise Size, ePayment System Demand is segmented as:

  • Small & Medium Enterprises (SMES)
  • Large Enterprises

By Industry, ePayment System Demand is segmented as:

  • BFSI
  • Retail
  • Healthcare
  • Media & Entertainment
  • IT & Telecom
  • Transportation & Logistics
  • Others

By Region, ePayment System Sales is segmented as:

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

Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Revolutionizing Collaboration: Conference Room Solutions Market Surges, Projected to Reach US$ 6,068.1 Million by 2033

The “conference room solutions market” is slated to expand at a CAGR of 14.8% from 2023 to 2033, according to a recent study published by Future Market Insights. By the end of the said forecast period, a valuation of US$ 6,068.1 Million is projected for the market.

The market is expected to grow substantially as a consequence of multiple variables, including the increasing demand for dependable and cost-effective conference room solutions, expenditures in digitizing the workspace, growing requirements for high-performance conferencing approaches, and the growing variety of cost-effective conferencing solutions software, as well as integral advancements in technology.

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Alliances between modern technology solution companies contribute to an upsurge in revenue from conference room strategies. During the forecast time frame, technological innovations in digital transformation such as AI/ML, cloud computing, analytics, and others are generating new development opportunities. This is especially prevalent in the BFSI sector.

Frequent advancements and the implementation of new solutions/software, such as seamless communication and meeting event coordinators/scheduling software for work-from-home applications, are presenting new avenues for conference room solution expansion.

Key Takeaways:

The global market is anticipated to grow at a 14.8% CAGR.
North America was expected to have the largest market share of 31.5%.
Europe was expected to have a share of the market of 21.8%.
By 2033, the global market is expected to be worth $6,068.1 Million.
The IT & Telecom segment was expected to account for 23.20% of the global market.

“The new conference room solutions regulations allow for greater efficiency requirements as well as enhanced user accessibility while simplifying the design and manufacturing processes,” says an analyst at FMI.

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Competitive Landscape:

Major competitors in the market expand their earnings through new solution introductions and strategic partnerships.

Biamp announced in April 2023 the introduction of new bundle services for small conference rooms to help organizations in streamlining the buying and configuration procedure by offering an entire system in a box and a single hardware framework built for end-user ease of use.

In 2023 April, ClearOne launched superior meeting room efficiency and simplicity characteristics. ClearOne has updated the BMA 360 microphones, the CONVERGE Pro 2 (CP2) family of digital signal processing mixers (DSPs), and the simple-to-operate CONSOLE AI implementation programs.

Flat Screens
Projectors
Cameras
Interactive/Digital Whiteboards
Unified Communication and Collaboration
Document Management
Meeting Organizers/Scheduling
Others
Professional Services
Consulting
Implementation and Integration
Training
Managed Services

Market Segmentation:

By Component:

Hardware
Software
Services

By Enterprises Size:

Small & Medium Enterprises (SMEs)
Large Enterprises

By Vertical:

IT & Telecom
BFSI
Healthcare
Retail
Media & Entertainment
Transportation & Logistics
Education
Manufacturing
Others

By Region:

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

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Author:

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Digital Inverter Market Surges with a 7.1% CAGR, Valued at US$ 11 Bn by 2027

A recent study by Future Market Insights titled “Digital Inverter Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” examines a number of aspects of the worldwide market for inverters. Important insights have been achieved by filtering and organising the raw material from secondary research in a methodical manner.

The market is carefully examined to gather information about the different trends that are reshaping the industry, the factors propelling market expansion, the prospects influencing market trajectory, and the obstacles impeding the global digital inverter market’s expansion.

These various facets have been analysed across the key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA) to gauge their intensity and impact on the overall market expansion. Based on historical data and the current scenario, future insights on the market based on value and volume projections for a period of 10 years have been included in this research report across each segment of the global digital inverter market.

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Global Digital Inverter Market: Forecast

The global digital inverter market is expected to grow at a high rate to register a CAGR of 7.1% during the period of forecast. The global market is estimated to be valued at around US$ 5.5 Billion in 2017 and is expected to touch about US$ 11 Billion by the end of the year of assessment (2027).

Global Digital Inverter Market: Factors Influencing Growth

Aspects such as increase in disposable income, favorable government regulations, development of plug and play type inverters, high conversion efficiencies, increasing demand from commercial and industrial sectors, increasing consolidation, development of solar projects by governments, the transition from developed to emerging markets and establishment of sound sales channels are driving the growth of the global digital inverter market.

However, factors such as increasing DC optimiser adoption, high costs and errors in digital inverter software are restricting the growth of the global digital inverter market.

Global Digital Inverter Market: Segmental Forecasts

The global digital inverter market has been segmented by product type, by region, by end user and by power source.

  • By product type, string inverters segment is estimated to be the largest in terms of value share and is expected to cross US$ 4.2 Bn by the end of the assessment year. This segment is also projected to grow at the fastest rate during the forecast period.
  • By end user, utilities segment is the most lucrative and is expected to soar at a high CAGR of 7.4% during the period of forecast to reach a significant value by the end of the assessment period.
  • By power source, solar inverters are gaining high traction and the solar inverter segment is poised to register a 7.6% CAGR. The battery inverter segment, however, stays ahead in valuation thus dominating the global market.
  • By region, Asia Pacific excluding Japan (APEJ) is the largest region in terms of growth and market value. The digital inverter market in the APEJ region is predicted to soar at a high CAGR of 7.5% during the period of forecast to reach a high valuation of close to US$ 4.5 Bn by the end of the assessment year.

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Global Digital Inverter Market: Company Assessment

The research report on the global digital inverter market encompasses in-depth assessment on various key players dealing with digital inverters.

Profiles of major companies such as Eaton Corporation, Schneider Electric SE, Siemens AG, ABB Ltd., General Electric Co., Enphase Energy, Inc., SMA Solar Technology AG, Vertiv Group Corporation, Leopold Kostal GmbH & Co. KG, Growatt New Energy Co.,Ltd., ReGen Powertech Private Ltd,. Fronius International GmbH, SMA New Energy Technology (Jiangsu) Co., Ltd., and Toshiba Mitsubishi-Electric Industrial Systems Corporation have been included in the competitive assessment chapter of the research report.

Detailed Market Segmentation

By End User

  • Utilities
  • Commercial
  • Residential

By Power Source

  • Battery Inverter
  • Solar Inverter

By Product Type

  • Central Inverter
  • String Inverter
  • Micro Inverter

By Region

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

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Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Fiber to the Home (FTTH) Market Surges: Global Revenue Projected to Reach US$ 95.88 Billion by 2033

The fiber to the home market is predicted to be worth US$ 23.42 billion in 2023 and rise to US$ 95.88 billion by 2033. The global industry was expanding at a CAGR of 15.1% from 2023 to 2033.

The connected device market is expanding daily, and the technology sector is aiming to create new goods that benefit individual consumers for their convenience. This is likely to create great demand for fiber to the home services.

This network topology offers previously unheard-of power and bandwidth capabilities by extending fiber directly from a central point to individual buildings. Prospective market prospects are thus created for both current enterprises and fresh rivals.

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Profitable Market Opportunity

Key element driving up the need for high-speed Internet in single-family homes is the increased acceptance of technologically sophisticated solutions. This includes cloud computing, e-governance, e-learning, and e-health. This gives service providers a chance to introduce their unique offerings in the market.

Key Takeaways

  • By 2033, the fiber to the home market in the United Kingdom is likely to expand, with a CAGR of 15.4%.
  • In 2022, the United States expanded effectively in the fiber to the home sector, with a share of 16.5%.
  • The fiber to the home market was significantly expanding, with a size of US$ 20.64 billion in 2022.
  • By 2033, the fiber to the home industry in China is likely to expand, with a CAGR of 17.5%.
  • In 2022, Australia is projected to expand in the fiber to the home business, with an expected share of 4.6%.
  • The market is expected to grow at a US$ 35.71 billion valuation by 2026 with the emergence of IoT.
  • By 2033, India is projected to expand significantly in the fiber to the home sector, with a share of 18.6%.
  • Japan’s fiber to the home market share expanded significantly, with a 10% share in 2023.
  • In 2022, 101 Mbps to 1 Gbps dominated the market with a share of 14.7%. It is anticipated to control the market by 2033 in terms of download speed.
  • Based on the application, VoIP dominated the market with a share of 20.4%.

Effective Approaches by Key Players

Companies should reinvest in diverse areas to speed up demand aggregation. Moreover, enable quick expansion supported by banks with a regional focus and supplemental public funding. The primary suppliers of fiber-to-the-home services are focusing on expanding their current internet service offerings with brand-new cutting-edge capabilities.

Recent Developments

  • Orange and Telefonica S.A. struck a commercial wholesale agreement in February 2018 to finish its present deployment. Orange now has an alternative to joint investments with other parties thanks to this arrangement.
  • In January 2019, America Movil announced that it had reached an agreement to buy 100% of Telefonica Guatemala. Additionally, 99.3% of Telefonica Moviles El Salvador, S.A. de C.V. (“Telefónica El Salvador”).

Key segments

By Download Speed:

  • Less than 50 Mbps
  • 50 Mbps to 100 Mbps
  • 100 Mbps to 1 Gbps
  • More than 1 Gbps

 By Application:

  • Internet TV
  • VoIP
  • Interactive Gaming
  • VPN on Broadband
  • Virtual Private LAN Service
  • Remote Education
  • Smart Home Application

 By End User:

  • Single Family Homes
  • Multiple Dwelling Units
  • Small Office Home Office

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Japan
  • The Middle East & Africa

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Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Nourishing Growth: Nutraceutical Packaging Market Set to Exceed US$ 6.3 Billion by 2033, Fueled by Rising Health Consciousness and Sustainable Trends

The global nutraceutical packaging market is on an upward trajectory, with anticipated growth to surpass US$ 6.3 billion by 2033, according to the latest insights from industry analysts. Starting from a substantial size of over US$ 3,755.7 million in 2023, the market is set to expand at a notable Compound Annual Growth Rate (CAGR) of 5.4%.

Going Green: Sustainable Packaging Trends Reshaping the Nutraceutical Industry

The nutraceutical packaging sector is undergoing a significant transformation driven by the evolving needs of health-conscious consumers. As awareness of natural and organic supplements increases, so does the demand for innovative packaging solutions. Notably, there’s a pronounced shift towards eco-friendly packaging materials, aligning with the preferences of environmentally conscious consumers. Single-serve and personalized packaging options are also gaining traction, reflecting the industry’s responsiveness to evolving consumer preferences.

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The Health Boom: Driving Sales for Nutraceutical Packaging Solutions

The surge in global demand for dietary supplements and nutraceutical products is a key driver of the nutraceutical packaging market. With a growing emphasis on natural ingredients and an aging population, the demand for nutraceutical packaging solutions is witnessing unprecedented growth. Furthermore, the rise of eCommerce has fueled the need for secure packaging solutions, ensuring product integrity during transit.

The Future Looks Bright: Factors Fueling Nutraceutical Packaging Demand

Several factors are propelling the demand for innovative nutraceutical packaging solutions. The increasing demand for dietary supplements and nutraceutical products necessitates specialized packaging to ensure safety and efficacy. Additionally, heightened health consciousness among consumers, coupled with an aging population, contributes to the surge in demand for nutraceutical products. The trend towards natural and organic supplements further drives the need for innovative packaging solutions tailored to market demands.

Innovative Solutions: Opportunities Abound in the Evolving Nutraceutical Packaging Market

The nutraceutical packaging industry presents significant opportunities for companies poised to capitalize on the rising demand for sustainable and eco-friendly packaging solutions. There is a clear need for innovative, cost-effective packaging materials that offer superior product protection while adhering to sustainable practices.

Opportunities and Trends:

  • Increased Demand for Sustainable Packaging Solutions: Consumers’ preference for eco-friendly options continues to drive demand.
  • Growing Popularity of Eco-Friendly and Personalized Packaging: Companies are embracing sustainable practices and customization to meet consumer demands.

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Growth Drivers in the Nutraceutical Packaging Industry:

  1. Increasing Health Consciousness: Growing consumer awareness and a focus on health and wellness drive the demand for nutraceutical products, boosting the need for innovative packaging solutions.
  2. Aging Population: The rising aging population globally fuels the demand for nutraceuticals, creating opportunities for packaging companies to cater to the specific needs of this demographic.
  3. Regulatory Compliance: Stringent regulations and quality standards in the nutraceutical industry push companies to invest in compliant and secure packaging, ensuring product safety and adherence to guidelines.
  4. Product Innovation: Continuous innovation in nutraceutical products requires packaging solutions that preserve freshness, enhance shelf life, and provide convenient usage, driving the need for advanced packaging technologies.
  5. E-Commerce Expansion: The growing trend of online retail and e-commerce platforms for nutraceutical products necessitates durable and secure packaging solutions to withstand the challenges of shipping and handling.

Key Takeaways from the Nutraceutical Packaging Market:

  • In 2022, the European nutraceutical packaging industry was worth US$ 1,461.8 million.
  • In 2022, the North American nutraceutical packaging industry is expected to be worth US$ 995.8 million.
  • In 2022, the nutraceutical packaging market in the United States was worth US$ 920.7 million. The market is expected to grow at a 5.0% CAGR during the forecast period.
  • In 2022, the Indian nutraceutical packaging industry was worth US$ 96.0 million. India’s adoption of nutraceutical packaging is expected to grow at a substantial CAGR of 9.8% during the forecast period.
  • With a value of US$ 2,349.3 million in 2022, the dietary supplements category was the dominant product type in the nutraceutical packaging industry.
  • Bags and pouches dominated the nutraceutical packaging sector in 2022, accounting for US$ 1,235.0 million in revenue.
  • With a value of US$ 1,330.7 million, the powder & granules sector was the biggest product form in the nutraceutical packaging industry in 2022.

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Market Segmentation:

By Packaging Type

  • Blister
  • Bottles & Jars
  • Bags & Pouches
  • Stick Packs
  • Boxes & Cartons
  • Containers
  • Sprays
  • VSP & MAP

By Product Form

  • Tablets & Capsules
  • Powders & Granules
  • Liquid
  • Solid

By Product Type

  • Dietary Supplement
  • Functional Food
  • Functional Beverages

By Material

  • Glass
  • Paperboard
  • Plastic
  • Aluminum

By Ingredient

  • Vitamins
  • Minerals
  • Prebiotics
  • Probiotics
  • Amino Acids
  • Omega 3 Fatty Acids
  • Others

Key players:

  • Amcor Ltd.,
  • Gerresheimer AG,
  • Sonoco Products Company,
  • Mondi PLC, etc.

Author:   

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Agriculture Packaging Market to Reach US$ 11.4 Billion by 2033, Driven by Demand for Supply Chain Efficiency and Reduction of Food Waste

Future Market Insights (FMI) unveils optimistic projections for the global agriculture packaging market, signaling a substantial rise from US$ 6,478.3 million in 2022 to US$ 6,831 million by the end of 2023, representing a Year-on-Year (Y-o-Y) growth rate of 5.4%. The market’s trajectory is set to expand further, with an anticipated Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2033, culminating in a valuation of US$ 11,449.1 million.

Driving Forces Behind Market Expansion:

The escalating demand for efficiency in supply chains, coupled with the imperative to reduce food waste, propels the increasing adoption of agricultural packaging solutions worldwide. With over 90% of food waste in emerging countries occurring during storage and transportation, the urgency to address this challenge drives the demand for cost-effective and sustainable packaging solutions across agricultural sectors.

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Meeting the Demand for Crop Protection Chemicals:

The rise in pest attacks necessitates robust packaging solutions for crop protection chemicals such as fertilizers and pesticides. Advanced packaging materials minimize risks during storage, handling, and transportation of agrochemicals, driving the demand for innovative agricultural packaging solutions.

Eco-Friendly Packaging Solutions:

Increasing awareness regarding eco-friendly packaging in developed countries fuels the adoption of paper and jute-based agriculture packaging bags and pouches, enabling companies to retain their customer base while embracing sustainable practices.

Growth Prospects in North America:

North America emerges as a key driver of market growth, accounting for 22.8% of the revenue share in 2022. The region is expected to expand its market share to 24.1% by the end of 2023, propelled by the growing utilization of packaging for solid grains, silage, liquid insecticides, and seed storage.

The rising trend of automation in the agricultural industry further drives the demand for innovative packaging solutions compatible with automated systems. As food travels an average of 4,100 miles before reaching end-users, the need for advanced packaging solutions intensifies to meet the requirements of farmers, processors, and distributors in international and national markets.

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Trends in the Agriculture Packaging Industry:

  1. Biodegradable and Compostable Materials: There is a noticeable shift towards the use of biodegradable and compostable packaging materials in the agriculture sector, driven by increasing environmental awareness and regulations promoting sustainable practices.
  2. Smart Packaging and IoT Integration: The adoption of smart packaging solutions, including RFID tags and sensors, is on the rise to enable real-time monitoring of product conditions such as temperature, humidity, and freshness throughout the supply chain.
  3. Reduced Plastic Usage: In response to environmental concerns, there is a growing trend towards reducing the reliance on traditional plastic packaging. Alternatives such as bio-based plastics and other sustainable materials are gaining traction.
  4. E-commerce Packaging Solutions: With the increasing trend of online grocery shopping, there is a demand for packaging solutions that cater to the specific requirements of e-commerce, such as compact packaging, easy handling, and product protection during transportation.
  5. Focus on Food Safety and Quality: Stringent regulations and consumer demand for safe and high-quality food products are driving the adoption of packaging solutions that maintain the integrity of agricultural products, preventing contamination and ensuring freshness from farm to table.

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Key Drivers

  • Increasing demand for effective storage and transport of pesticides and fertilizers is supporting the market growth.
  • Adoption of agrochemicals and biologicals is driving the growth of the agricultural packaging industry.
  • Increasing preference for e-commerce retailing is significantly contributing towards agricultural packaging sales.

Key Companies Profiled

  1. Bemis Company, Inc.
  2. Sonoco Products Company
  3. Mondi Group
  4. LC Packaging International BV
  5. Packaging Corporation of America
  6. H.B. Fuller Company
  7. Atlantic Packaging
  8. NNZ Group
  9. Parakh Agro Industries Ltd
  10. International Paper Company
  11. DS Smith Plc
  12. Smurfit Kappa Group Plc
  13. KapStone Paper and Packaging Corp.

Key Segments: 

Product Type:

  • Pouches
  • Bags/Bins
  • Silo Bags
  • Clamshells
  • Bottle
  • Trays
  • Bulk Containers
  • Others

Material Type:

  • Plastic
  • Rigid
  • Flexible
  • Paperboard
  • Corrugated Board
  • Glass
  • Jute
  • Others

Barrier Type:

  • Low-barrier
  • Medium-barrier
  • High-barrier

Application:

  • Seeds & Pesticides
  • Silage
  • Food Grains
  • Vegetables & Fruits

Region:

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

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Label Applicators Market Poised for Growth, Forecasted to Reach US$ 4,489.5 Million by 2033

Future Market Insights (FMI) unveils promising projections for the global label applicators market, indicating a robust Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period from 2023 to 2033. The market value is anticipated to soar from US$ 2,959.6 million in 2023 to US$ 4,489.5 million by 2033, driven by evolving consumer demands and advancements in manufacturing technologies.

As of 2022, the global label applicators industry was valued at US$ 2,816.6 million, poised to exhibit year-on-year growth of 5.1% in 2023, laying a solid foundation for future expansion and innovation within the sector.

Enhancing Supply Chain Efficiency with Label Applicators:

The modern manufacturing sector operates within a complex supply chain network, encompassing various stakeholders from raw material suppliers to end users. Label applicators play a pivotal role in streamlining this intricate network by ensuring accurate labeling, facilitating efficient processing, and enabling proper tracking and tracing of products throughout the supply chain.

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Driving Factors and Key Trends:

  • Increasing Consumer Demands: The label applicators industry is propelled by rising consumer demands and escalating production rates across diverse sectors. As consumer preferences evolve, manufacturers seek innovative labeling solutions to meet market demands effectively.
  • Demand for Accuracy and Precision: The need for accuracy, precision, and repeatability in label application on packaging drives the adoption of automatic label applicators. Manufacturers prioritize solutions that enhance operational efficiency and ensure consistency in labeling processes.

Industry Growth Drivers: 

  1. Rising Demand for Efficient Packaging Solutions:
    • The increasing need for streamlined and efficient packaging processes across various industries is propelling the demand for label applicators to enhance packaging speed and accuracy.
  2. Automation in Manufacturing Processes:
    • The growing trend toward automation in manufacturing is driving the adoption of label applicators, as they contribute to increased efficiency, reduced labor costs, and minimized errors in labeling.
  3. Stringent Regulatory Compliance Requirements:
    • Stringent labeling and packaging regulations imposed by regulatory bodies in various industries, such as food and pharmaceuticals, are fueling the demand for label applicators to ensure compliance and traceability.
  4. Expansion of E-commerce and Retail Sectors:
    • The booming e-commerce and retail sectors, with their emphasis on branding and product presentation, are major growth drivers for the label applicators market, as businesses seek ways to enhance the visual appeal of their products.
  5. Advancements in Labeling Technologies:
    • Ongoing technological advancements in labeling, including innovations in materials, printing techniques, and smart labeling solutions, are driving the adoption of label applicators to keep pace with evolving industry standards and consumer preferences.

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Trends in the Label Applicators:

  1. Smart Labeling Technology: The integration of smart labeling technologies, such as RFID (Radio-Frequency Identification) and NFC (Near Field Communication), is a rising trend, enabling enhanced tracking, authentication, and communication with consumers.
  2. Industry 4.0 Integration: Label applicators are adopting Industry 4.0 principles, incorporating IoT (Internet of Things) connectivity and data analytics to optimize production processes, improve quality control, and reduce downtime.
  3. On-Demand Label Printing: The trend towards on-demand label printing is gaining traction, allowing businesses to print labels in smaller quantities as needed, reducing waste and providing greater flexibility in labeling options.
  4. Augmented Reality (AR) Labels: The use of augmented reality in labels is an emerging trend, providing interactive and engaging experiences for consumers by overlaying digital information on physical product packaging.
  5. Advanced Material Adoption: Label applicator manufacturers are increasingly using advanced materials, such as sustainable and durable substrates, to meet evolving customer preferences and regulatory requirements while ensuring label longevity and quality.

Key Companies Profiled              

  1. ProMach, Inc
  2. Herma GmbH
  3. Advanced Labeling Technologies
  4. Accraply, a Barry-Wehmiller company
  5. Nita Labeling Systems
  6. Accutek Packaging Equipment Company, Inc.
  7. Advent Label Applicator Co
  8. CTM Labeling Systems
  9. SACMI Group
  10. Krones AG
  11. ILTI s.r.l.
  12. Aesus Packaging Systems Inc.
  13. APACKS
  14. Nautilus Systems Inc
  15. Worldpack Automation Systems PVT. LTD.
  16. Phoenix Italia S.r.l.
  17. Auto Labe
  18. B & H Labeling Systems
  19. CDA-USA, Inc.
  20. Label Pack Automation, Inc.
  21. ADR AG
  22. Videojet Technologies, Inc.
  23. Primera Technology, Inc.
  24. Label-Aire, Inc
  25. Alpha-Pack Group
  26. ERDA BILIMSEL ARASTIRMA EGITIM HIZMETLERI LTD. STI.
  27. Etisoft Sp. z o.o.
  28. Weyfringe Barcode Labelling Systems
  29. Maharshi Group

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Segment Insights:

The food and beverage segment emerged as a dominant force within the global label applicators market, holding a substantial share of about 45.8% in 2022. As the food and beverage industry continues to evolve, the demand for efficient labeling solutions is expected to surge, driving market growth and innovation.

Global Label Applicators Market Segmentation by Category

By Automation:

  • Automatic
  • Semi-automatic

By Machine:

  • Linear
  • Rotary

By Operating Speed:

  • Up to 70 products/min
  • 71 to 120 products/min
  • 121 to 150 products/min
  • Above 150 products/min

By Packaging Application:

  • Bottles
  • Vials & Ampoules
  • Pouches & Bags
  • Boxes & Carton
  • Trays & Clamshells
  • Jars
  • Cans
  • Cups & Tubs
  • Blister Pack
  • Tubes
  • Stick Packs & Sachets

By Label Type:

  • Pressure Sensitive Labels (PSL)
  • Shrink Labels
  • Stretch Labels
  • Sleeve Labels
  • Wet Glue Labels
  • Hot Melt Labels
  • Others (In-mold, Pre-gummed, etc.)

By End Use:

  • Food
    • Ready-to-Eat/Snacks
    • Dairy Products
    • Bakery & Confectionery Products
    • Fresh Produce Products
    • Meat, Seafood, and Poultry
    • Sauces, Dressings, and Condiments
    • Other Food Products
  • Beverages
    • Alcoholic Beverages
    • Non-alcoholic Beverages
  • Personal Care & Cosmetics
  • Home Care
  • Chemicals & Fertilizers
  • Pharmaceuticals
  • Electrical & Electronics
  • Shipping & Logistics
  • Other Industrial

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • Middle East & Africa

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

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

Global Bronchoscopes Industry Poised for Growth, Eyes US$ 647.7 Million in Sales with a Striking 4.4% CAGR by 2028 | FMI

The Global Bronchoscopes Industry, valued at approximately US$ 501 Million in 2022, is gearing up for a substantial leap, set to achieve a remarkable 1.3X increase over the forecast period, as per the latest findings by Future Market Insights (FMI). The market is poised to maintain a robust Compound Annual Growth Rate (CAGR) of 4.4% from 2022 to 2028, projecting sales to reach an impressive US$ 647.7 million by the close of 2028.

Bronchoscopes, a pivotal segment within the global endoscopes market, are anticipated to carve out approximately 4% of the market share by the end of 2021. This comes as the overall endoscopes market is projected to hit a valuation of US$ 13.0 Billion in the same period.

The surge in demand for Bronchoscopes is fueled by the escalating prevalence of respiratory conditions such as idiopathic pulmonary fibrosis, pulmonary fibrosis, interstitial pneumonitis, occupational sarcoidosis, and pulmonary hemorrhage. This upswing not only underscores the critical need for advanced diagnostic and therapeutic tools but also presents lucrative opportunities for manufacturers to innovate and address the evolving challenges in healthcare.

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Cleaning typical (multiple-use) flexible Bronchoscopes is time-consuming and expensive, and there is a risk of cross-infection. By adopting a single-use flexible video bronchoscope, cross-contamination is eliminated. An early assessment of the economic effectiveness of single-use Bronchoscopes suggests potential hospital savings and patient benefits from infection prevention. The rising use of single-use flexible Bronchoscopes is developing a sizable industry due to their enticing benefits.

“Apart from the factors mentioned, technological advancements in the Bronchoscopes landscape—witnessing a transformation shift from conventional invasive procedures to minimally invasive and advanced devices is a critical factor determining the global demand for Bronchoscopes, further amplifying its potential applications.

Among the significant improvements and developments boosting global demand for Bronchoscopes are white-light bronchoscopy, navigational bronchoscopy, and autofluorescence (blue-light) bronchoscopy. Thin Bronchoscopes with minimally invasive characteristics are increasingly gaining popularity. Manufacturers of Bronchoscopes have improved on original Bronchoscopes in terms of application and product variety,” notes a company senior analyst.

Top Four Manufacturers Contribute the Largest Global Revenue

Given the rapid pace of technological change, major bronchoscope manufacturers are investing heavily in research and development projects to further improve product efficiency. The Global Bronchoscopes Industry is extremely competitive, with relatively high entry barriers, differentiated and well-established products, and notably high-profit margins.

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Tier-1 manufacturers of Bronchoscopes, including Olympus Corporation, FUJIFILM Holdings Corporation, Teleflex Incorporated, and HOYA Corporation, collectively hold a market share of approximately 62.5 percent—with Olympus Corporation contributing the largest revenue slice.

Tier-2 players such as KARL STORZ GmbH & Co KG, Ambu A/S, and Richard Wolf GmbH and tier-3 players including Rochling Group and Shanghai AoHua Photoelectricity Endoscope Co., Ltd, collectively contribute approximately 37.5 percent revenue share to the Global Bronchoscopes Industry. Key forward market strategies include:

  • With continued improvements in the global healthcare setting, key players seek acquisition opportunities as a key growth strategy. Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, and HOYA Corporation are likely to focus on mergers, acquisitions, and collaboration strategies, in the coming years. HOYA Corporation, for instance, acquired C2 Therapeutics, to expand its interventional endoscopy offerings in the U.S. and also provide aftersales and repair services.
  • Besides strategic tie-ups, new product launches will continue to be the key differentiation strategy, helping manufacturers to further solidify their market position. For instance, Olympus Corporation launched Truresolution objectives for multiphoton laser scanning microscopes. Teleflex Incorporated launched LMA® Gastro Airway, facilitating airway control during endoscopic procedures.
  • Leading manufacturers of Bronchoscopes are also focusing on geographical expansions, specifically in emerging nations, by acquiring local players in the endoscopy market. 

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Critical Market Retainers Identified

  • Risks of cross-contamination and post-bronchoscopy infection in the form of bleeding, troubled breathing, and low blood oxygen level. FMI study indicates high infection rate at ambulatory surgical centers (ASCs), compared to clinics and hospitals.
  • Growing demand for non-invasive procedures including liquid biopsy and Magnetic Resonance Spectroscopy.
  • Stringency in regulations demanding a pre-market approval (PMA).

Global Bronchoscopes Industry, By Category Product:

  • Non-Video Bronchoscopes
  • Video Bronchoscopes

Modality:

  • Rigid Bronchoscopes
  • Flexible Fiber Bronchoscopes
  • Mobile Bronchoscopes

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani

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