Market Research Blog – Page 3642 – New Product Development

Magneto Optic Current Transformer Market Accelerates Towards US$ 563.6 Million by 2032, Fueled by 9.3% CAGR

The magneto optic current transformer market, which is presently valued at US$ 232.4 in million 2022 and is expected to reach US$ 563.6 million in 2032, increasing at a CAGR of 9.3%.

Increased need for power across all industries, rapid improvements in electrical and electronic technologies, and a variety of other reasons have all contributed to the magneto optical current transformer market’s rise.

A magneto optic current transformer calculates and converts the rotation angle of a magnetic field into proportional electric energy. The majority of the gadget is made up of a sensor head, a signal processing unit, and fiber optic connections.

Due to its high voltage tolerance and lack of a saturation state, it is incredibly helpful and a crucial component in almost every electronic device.

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Magneto Optic Current Transformer Market: Drivers and Restraints

Increasing drawbacks of conventional current transformers such as saturation of magnetic field under high current, electromagnetic interference, and complicated insulation and cooling structures are driving the demand for advanced electrical equipment, for instance, magneto optic current transformer market over the forecast period.

Further various intrinsic properties of the magneto optic current transformer such as immunity against electromagnetic interferences (EMI), the possibility of measuring AC & DC, and the absence of saturation effects are attributing to drive the magneto optic current transformer market over forthcoming years.

In addition to the above, electrical isolation and low power consumption of magneto optic current transformers are the other drivers of the market, which are enabling new lucrative opportunities for investors to invest in the respective industry.

Who are Some of the Important Players in the Magneto Optic Current Transformer Market?

The magneto optic current transformer market size is anticipated to increase in the future. Some of the key players are:

NR Electric Co.,
ARTECHE, T&D,
Trench Group,
Profotech, and
Asea Brown Boveri (ABB) Ltd.
Hunan’s first 500 kV substation with remote one key sequence control was successfully put into operation. NR Electric Co. commissioned the whole system, which was highly praised by the users.
Profotech and Elektrozavod have entered into a scientific and technological cooperation, which is based on execution of complex projects on buildings, reconstruction of power facilities, and development and testing of new products based on joint R&D.

Global Magneto Optic Current Transformer Market: Regional Trend

Owing to massive growth in the applications of electric equipment in developed economies such as North America and Europe, it are anticipated to drive the market in developed countries. Further increasing worldwide electrical distribution/consumption are spurring the market growth in forthcoming years.

Asia Pacific is emerging the fastest growing segment of magneto optic current transformer market owing to rapid advancement in electrical components and increasing industrial utility are anticipated to drive the market in recent years.

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Key Segments Profiled in the Magneto Optic Current Transformer Market Survey

By Type:

Fiber Type
Non-Fiber Type

By Application:

Transformer
Electronic Measurement Devices
Network Devices
Power System & Instrumentation
Transmission-Line Bus
Electrical High Voltage Substations

By Region:

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

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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:

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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Medical Transport Box: Sales Projection Indicates Surge at a 5.6% CAGR by 2034 | FMI Reports

Expected to witness substantial growth, the medical transport box is anticipated to be valued at US$ 696.6 million in 2024, with a projected increase to US$ 1,201.3 million by 2034. Over the forecast period from 2024 to 2034, the market is poised to experience a significant surge, boasting a compound annual growth rate (CAGR) of 5.6%. This robust expansion underscores the rising demand for efficient and secure transportation solutions within the medical sector. It reflects an industry-wide focus on enhancing logistical capabilities to ensure the safe and timely delivery of medical supplies and equipment.

Advances in autonomous vehicles and drone technology may influence the transportation of medical supplies, including the use of specialized medical transport boxes for aerial delivery in remote or challenging terrains. The growing use of biologic drugs, which often have specific temperature and environmental requirements, is expected to fuel the demand for advanced medical transport solutions that can maintain the integrity of these sensitive products during transit.

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The aging population often requires a higher volume of medical supplies and medications. The demographic shift is expected to lead to increased demand for medical transport boxes to ensure the safe and timely delivery of healthcare products to elderly individuals. The shift toward patient centric healthcare models may lead to increased demand for home healthcare services, requiring secure and temperature controlled transport solutions for medical supplies delivered directly to the homes of patients.

Growth Drivers:

Increasing Demand for Healthcare Services: With the growing global population and aging demographics in many countries, there’s a consistent rise in demand for healthcare services. This includes the need for safe and efficient transport of medical supplies, samples, and equipment, driving the demand for medical transport boxes.
Advancements in Medical Technology: Technological advancements in the healthcare sector have led to the development of more sensitive medical equipment and diagnostic tools. These advanced devices often require specialized transport containers to maintain their integrity during transit.
Stringent Regulations: Regulatory bodies, such as the FDA (Food and Drug Administration) in the United States and similar agencies worldwide, enforce strict guidelines for the transportation of medical supplies and specimens. Compliance with these regulations necessitates the use of specialized transport containers that meet specific standards, driving demand for such products.
Globalization of Healthcare: The globalization of healthcare has increased the need for reliable transportation of medical supplies across borders. Medical transport boxes play a crucial role in ensuring the safe and secure delivery of these supplies, especially for pharmaceutical companies and medical institutions operating internationally.
Pandemic Preparedness: Recent global health crises, such as the COVID-19 pandemic, have highlighted the importance of robust healthcare infrastructure and logistics systems. There’s an increased focus on preparedness for future pandemics or health emergencies, driving demand for medical transport boxes designed to handle infectious materials safely.

Industry Restraints:

Cost Constraints: Medical transport boxes often involve specialized designs and materials to meet regulatory requirements and ensure the safe transport of sensitive medical supplies. These factors can increase production costs, potentially limiting market penetration, especially in regions with budget constraints in healthcare spending.
Logistical Challenges: Transporting medical supplies, especially temperature-sensitive items like vaccines and biological samples, often requires careful coordination and adherence to strict timelines. Logistical challenges such as transportation delays, customs clearance issues, and unexpected disruptions can impact the effectiveness of medical transport box solutions.
Competition and Market Saturation: The medical transport box industry may face competition from established manufacturers as well as new entrants seeking to capitalize on the growing demand. Market saturation and intense competition could exert pressure on pricing and profit margins for companies operating in this space.
Technological Complexity: Advancements in medical technology may lead to increasingly complex transport requirements, such as temperature-controlled environments or specialized handling for delicate equipment. Keeping pace with these technological advancements and adapting transport box designs accordingly can pose challenges for industry players.
Environmental Concerns: The use of certain materials in medical transport boxes, such as plastics and foams, may raise environmental concerns due to their potential impact on waste generation and pollution. Companies in this industry may face pressure to adopt more sustainable practices and materials, which could require investments in research and development.

Key Takeaways:

Global medical transport box was valued at US$ 672.4 million by 2023-end.
From 2019 to 2023, the market demand expanded at a CAGR of 3.8%.
The market in China is expected to expand at a CAGR of 6.7% through 2034.
By material, the plastic segment to account for a share of 56.3% in 2024.
From 2024 to 2034, medical transport box is expected to flourish at a CAGR of 5.6%.
By 2034, the market value of medical transport box is expected to reach US$ 1,201.3 million.

The integration of blockchain technology for secure and transparent record keeping in the healthcare supply chain may influence the development of medical transport boxes with built in blockchain solutions to enhance data integrity,” remarks Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

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Competitive Landscape

Prominent players in the medical transport box market are

B Medical Systems
Avantor Inc.
Thermo Fisher Scientific Inc.
Sonoco Products Company
SARSTEDT AG & Co. KG
Haier Group
Nilkamal
BITO-Lagertechnik Bittmann GmbH

Recent Developments

In 2020, Sonoco ThermoSafe, a division of Sonoco and a prominent global supplier of temperature assurance packaging for the life sciences and healthcare sectors, unveiled its latest product, the EOS™ line. The innovative line features fully curbside recyclable temperature controlled packaging and is now available in the United States.
In the same year, Pelican BioThermal, a renowned global leader in temperature controlled packaging, had successfully acquired NanoCool, a manufacturer based in Albuquerque, New Mexico, specializing in temperature controlled packaging solutions. The strategic acquisition enhances the already extensive Pelican BioThermal product portfolio, solidifying its position as the most comprehensive in the industry.

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Segmentation Analysis of the Medical Transport Box

By Material:

Plastic
Metal
Paperboard

By Capacity:

Up to 5 L
5 L to 10 L
Above 10 L

By End User:

Hospital and Clinics
Blood Banks
Laboratories
Research Centres

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Astaxanthin Market’s Journey to Business Prosperity to Reach US$ 3,636.8 million by 2033 | FMI

The global astaxanthin market is predicted to register a robust CAGR of 14.9% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 910.3 million in 2023 to US$ 3,636.8 million by 2033 end.

Demand for astaxanthin is projected to rise on account of its multiple applications in nutraceuticals, pharmaceuticals, feed industries, etc. Moreover, the distinct color and properties of astaxanthin are also propelling its demand in food coloring, commercial aquacultures, and other applications.

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In a landscape of evolving technologies, the Astaxanthin market is poised for expansion, driven by innovative production methods such as ALGAMO’s micromodules and photobioreactors. ALGAMO’s focus on minimizing water wastage and electricity consumption showcases a commitment to sustainability in astaxanthin production. Ongoing research leveraging diverse technologies to enhance economic and technical feasibility is anticipated to positively impact market dynamics.

Key players are gearing up for strategic initiatives, launching novel platforms and products, especially in emerging economies, to tap into growth opportunities. A notable example is Näck, a Swedish-Indian startup introducing a digital wellness platform and Immunity Boost, featuring natural astaxanthin and vegan protein powder. These endeavors align with the increasing consumer demand for sophisticated and health-oriented food choices, driving sustainability in the food industry.

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Top Highlights:

United States Dominance: The U.S. market is poised to contribute significantly, targeting a market revenue of US$ 838.70 million by 2033, with a robust CAGR of 15.8%.
UK Growth: The United Kingdom is anticipated to emerge as the second-leading market, generating US$ 296.8 million in revenue by 2033, with a CAGR of 15%.
European Influence: Germany is forecasted to reach US$ 266.60 million by 2033, expanding at a CAGR of 13.7%. Spain is set to yield US$ 85.60 million, exhibiting a CAGR of 12.2% over the forecast period.
China’s Prominence: The Chinese market is expected to play a pivotal role, projecting a revenue of US$ 161.50 million by 2033, growing at a steady CAGR of 12.8%.

New Developments as Observed by FMI

Beijing Gingko Group unveiled in April 2022 that it is expanding its astaxanthin farm capacity for the second time in the Pristine region over the last two years. This development is geared to enhance the company’s production capacity.
Lehmann&Voss&Co., which is a prominent nutraceutical distributor in the United Kingdom, launched a new AstaPure natural astaxanthin CWD in April 2021. The product plays a crucial role in cardiovascular disorders treatment.

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Key Segments

By Form:

Powder
Liquid

By Grade:

> 98%
95-97%
< 94%

By Source :

Natural
- Crustaceans
- Microalgae
- Paracoccus carotinifaciens
- Yeast/ Fungi
Synthetic

By Production Technology:

Chemical Synthesis
Natural Extraction

By Application:

Aquaculture
Dietary Supplements
General Wellbeing
Eye Health
Brain Health
Immune & Digestive Health
Bone & Joint Health
Heart Health
Other Supplements (Weight Loss, Allergies, etc.)
Food & Beverages
Personal Care & Cosmetics
Skin Care
Hair Care
Pet Food
Eye Health
Brain Health
Immune & Digestive Health
Bone & Joint Health
Animal Feed
Pharmaceuticals
Others

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Travelport GDS Systems Market Aims for US$ 1,480.3 Million by 2033 | FMI

According to Future Market Insights’ most recent research, the global travelport GDS systems market will generate US$ 921.4 million in sales by the end of 2023. The travelport GDS systems market is anticipated to grow over the long run, reaching around US$ 1,480.3 million in 2033.

Technology governs the present day travel and tourism industry. Automation has a prospering future for the dynamic travel and tourism industry. Among travel and tourism automation GDS is a prospering network system highly in demand by travel operators.

It is an online system which manages travel portals for travel operators or agents and assists in activities such as ticket booking, rates, delivery inventory, discounts, rooms, descriptions and many other functionalities. Some companies come up with GDS systems for the travel domain; some of them listed are – Amadeus, Expedia, Hotwire, Kayak, Orbitz, Priceline, Sabre, Travelocity, Travelport.

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Among these companies Global Distribution Systems or GDS are known by four types, they are Amadeus, SABRE, Travelport (Galileo or Worldspan), and Abacus. The Travelport is the GDS system that assists travel operators in booking flight tickets. As the travel operators use it hence it is in the B2B market and not meant for B2C or end users.

It gives all kind of information required to agents for answering customer queries as well as helps in managing their database while making ticket bookings.

Travelport was formed in 2006. Travel data of the tourism industry redefines the data in distribution systems connecting the core features of airlines and the subsidiary products. The organisation is also known for strengthening the track to meet the rising need of the travel business which includes railways, hotels, tour operators, cruise and car rentals.

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GDS Travelport provides services to more than 170 countries across the globe. North, Latin America, Western Europe, the Middle East and Asia-based tourism management companies and many travel operators use this technology abundantly to benefit themselves from services such as handling customer portals (including contact details, product specials, latest news or detailed support information), ticket booking, new product advisory, price analysis and much more.

Travelport GDS Systems: Drivers, Trends and Opportunity Analysis

The control of technology over the travel and tourism industry has created a tremendous opportunity for the growth of the GDS travelport system. It is now becoming a trend, and most of the travel agents prefer using these GDS systems to manage bookings.

GDS Travelport not only supports insiders in managing their work and booking tickets, but it also helps them strategize future market approaches. GDS Travelport has influenced many private and government parties to invest in developing travel-related tools that can switch the revenue channels.

Many travel agencies or travel management companies prefer Travelport for booking flights because, doing this will benefit them more with many facilities as GDS Travelport can offer travel fares and prices on behalf of airlines as per IATA’s industry standard; this is because GDS Travelport is the first GDS that is labelled as NDC certified.

GDS Travelport also helps airlines merchandise their offering and brand schemes to Travelport using travel operators as well as travel management companies globally, in which more than 200 airlines are already practicing this technology. Using Travelport Universal API, online travel agencies can also avail the information directly.

Travelport GDS Systems: Limitations

Although GDS Travelport is widely used amongst many travel agents and travel management companies, there are some hitches that limit the adoption of GDS Travelport. Some of them are the cost of GDS based software and competition with other GDS based networking system companies.

Mostly, workers connected with travel management companies are habituated to manual work and a shift towards technology is another limitation that can slow down the growth of GDS Travelport to some extent. Due to the downturn in the global economy, many corporate travels have dropped, and this has also impacted the growth of GDS Travelport adoption.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Travelport GDS Systems Market by Category

By Age:

Under 15
16-25
26-35
36-45
46-55
Over 55

By Visit Purpose:

Business Travel
Leisure Travel
Education-Employment-Pilgrimage
Visiting Friends & Relatives

By Consumer Orientation:

Individual
Couples
Families
Group

By Tour Type:

Individual travel
Professional Groups
Group travels

By Tourism Type:

Domestic
International

By Application:

Flights
Hotels
Car rentals
Cruises and Ferries
Railways

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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Exploring Evolutionary Trajectories and Promising Growth Horizons in the Power Quality Equipment Market

The power quality equipment market is expected to be valued at US$ 38.04 Billion in 2023 and US$ 69.65 Billion by 2033. Sales of power-quality equipment are anticipated to increase at a CAGR of 6.25% during the forecast period.

An increase in demand for continuous power supply to equipment used in process and manufacturing industries is a major element driving the expansion of the manufacturing sector. Any fault or interruption may result in significant losses due to the loss of manufacturing time.

The broad acceptance of power quality equipment in the industrial and manufacturing sectors as a result of the continued expansion of transmission, distribution, and renewable integration are important factors driving the global market for power quality equipment toward expansion.

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Depending on the type of issue, the rating, and the electromechanical performance characteristics of the industrial equipment, the costs of power quality problems and remedies may vary dramatically. To cut downtime costs, remove inefficiencies, and protect expensive equipment from faults caused by power disruptions, it is crucial to use power-quality equipment.

Poor power quality is projected to have a major negative impact on industrial and manufacturing processes during the forecast period. Different industrial processes need varying degrees of power quality, and each has particular requirements for particular power quality elements. For industrial end users, cost-sensitive components of power quality include equipment failure, equipment downtime, product quality, and clean-up expenses.

Due to load balancing’s ability to stop electrical equipment from tripping, the market for technology that improves power quality has enticing growth potential. In addition, the food and beverage industry has grown considerably in recent years.

Key Takeaway From the Power Quality Equipment Market Report:

• Due to the increasing digitalization of the broadcast communications industry, the United States is anticipated to dominate the global market for power quality equipment.
• One of the main end-users of power quality equipment in Europe is the fast-growing industrial and manufacturing sector, followed by the telecom industry and the commercial sector.
• The industrial and manufacturing segment is predicted to have the largest market size between 2023 and 2033.
• With a CAGR of 4.5% from 2023 to 2033, the telecoms sector is predicted to grow at the highest rate in the global market for power quality equipment.
• From 2023 to 2033, Asia Pacific is expected to invest US$ 9.8 Bn in building smart framework foundations.
• From 2023 to 2033, the market for power quality equipment in China is anticipated to expand at a CAGR of 8.5%.
• From 2023 to 2033, it is predicted that Asia Pacific will invest US$ 10.7 Bn in the construction of smart grid systems.
• In 2021, the three-phase segment held the highest revenue share 74%.

What are the Major Players in the Market for Power Quality Equipment Doing?

The industrial sector including mining, manufacturing, agriculture, and construction, has the highest energy consumption per end-use sector. The requirement for a constant and dependable power supply in various industries, particularly industrial facilities, is expected to expand, which would lead to an increase in the need for power quality equipment.

The food and beverage business has been completely saturated in recent years. Due to the growing urban population, rising health concerns, and general government activities, interest in packaged food varieties and handled dairy products has surged.

Toshiba Corporation, General Electric Company, ABB Ltd., Schneider Electric, Emerson Electric Company, Siemens AG, Eaton Corporation Plc., MTE Corporation, Active Power Inc., Smith’s Group plc. are some of the key players proliferating in the market.

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Recent Developments in the Power Quality Equipment Industry:

In May 2021, ESB awarded Siemens Energy three contracts to provide its Static Compensator technology (SVC Plus) for the management of grid stability at three substations in South-West Ireland.
In March 2020, the Schaffner company unveiled its Ecosine Max series of passive harmonic filters. These harmonic filters provide compliance with IEEE-519 and other international power quality standards.
To diversify its line of edge computing and distributed IT products, Eaton acquired Tripp Lite in January 2021. Tripp Lite is a provider of connectivity and power quality solutions.

Key Market Segmentation

By Type:
• Surge Arrester
• Surge protection devices
• Harmonic filters
• Power conditioning units
• Power distribution units
• Voltage regulators
• Uninterruptable power supplies
• Synchronous condensers
• Digital static transfer switches,
• Static VAR compensators
• Solid oxide fuel cells
• Isolation transformers
• Power quality meters

By Application:
• Industrial & Manufacturing
• Commercial
• Residential
• Transportation
• Utilities

By Phase:
• Single Phase
• Three Phase

By End User:
• Telecommunications
• Automotive & Industrial
• Electrical & Electronics
• Energy & Utilities
• Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Localized Temperature Therapy Products Market Eyes a Valuation of US$ 3,055.6 million by 2033

The localised temperature therapy products market sale is expanding significantly due to developments in technology and a growing focus on non-invasive treatment approaches. Since these solutions are designed to provide customised temperature management for various medical circumstances, their popularity in healthcare settings is growing. Products used in localised temperature therapy are expected to have a market value of US$ 3,055.6 million in 2033, up from US$ 1,752.9 million in 2023. A compound annual growth rate (CAGR) of 5.7% throughout the predicted period indicates positive market growth.

The market for localised temperature therapy products is highly effective when it comes to preventing hypothermia and managing non-invasive pain. By 2030, sales of targeted temperature therapy devices are expected to reach US$ 2.63 billion Over that time, income increased at a 6.0% CAGR. According to a recent Future Market Insights research, there is a good chance that the company could soon offer substantial potential for applications in the treatment of sports injuries and localised neonatal treatments.

Growing healthcare applications, along with expansion of the global manufacturing industry and supportive government regulations, are creating profitable growth prospects, particularly in developing economies throughout Asia and Latin America. Additionally, geriatric users will benefit from medicinal applications, which will enhance long-term growth prospects. According to a study by Future Market Insights, the market would grow at a 6% CAGR from 2022 to 2030.

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Market players operating in the industry are aiming for the development of product improvements through novel technologies in addition to industry collaborations and capacity expansions to keep pace with changing industry needs. The market has witnessed substantial expansion in recent years, with better access to healthcare services for injury and pain relief therapeutics.

Higher popularity of non-surgical, pharmaceutical-free treatments for physical injuries and chronic ailments such as arthritis and osteoporosis, has been driven by reduced risk of side effects, and ease of application.

Localized temperature therapy aids help to improve blood and oxygen flow.

Innovations such as microwave and electric products provide higher efficacy and are gaining from wider scope of application.

Rising incidences of road accidents, and sport injuries result in bone and tendon ruptures, strains, and sprains, which boost overall market demand.

On the other hand, alternatives such as reusable packs and herbal medication could restrict growth.

FMI’s report on the market offers a detailed overview, covering essential market dynamics. Some of the major takeaways from the report are as follows:

Hospitalization for hypothermia and chronic pain for adult populations are driving growth through the forecast period
Back and knee pain management applications are picking up pace with higher demand arising from geriatric users
North America is projected to remain dominant, with the United States displaying highly lucrative market growth opportunities

Localized Temperature Therapy Products Market

The covid-19 virus, which causes acute respiratory distress has been found to be sensitive to heat.

Consequently, the use of higher temperatures tolerable to the human body has been found to be effective in destroying and deactivate the lipid covering of the virus.

This factor is expected to have a positive impact on the localized temperature therapy product market in providing patient short-term relief.

On the other hand, the restrictions imposed by governments on elective medical procedures during the crisis is likely to impact short term sales.

Also, the pandemic has affected neonatal infant care, with pediatric patients and newborns being at higher risk of infection, leading to the establishment of standards of testing and care, which could support market growth throughout the duration of the pandemic.

Who is winning?

In its report, Future Market Insights has studied the numerous strategies taken up by some of the dominant companies operating in the localized temperature therapy products market.

Apart from strategic mergers and acquisitions, companies are increasingly focusing on development of new products and capacity expansions, with the integration of novel technologies for a wider portfolio range.

Some of the participants operating in the localized temperature therapy products market are Medtronic Plc, Kobayashi Pharmaceutical Co. Inc., Cardinal Health, Carex Health Breg Inc., Medline Industries Inc., Core Products International Inc., Cincinnati Sub Zero, The Mentholatum Company, B.u.W. Schmidt, Life Wear Technologies, Pic Solution, Advanced Home Care, Rapid Aid, Adroit Medical Systems and Macon & Company Inc.

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Key Segments:

Localized Neonatal Therapy Product

- Warming Mattress
- Infant Heel warmers
Localized Heat Therapy Product
- Hot water bottles
- Heat lamps
- Paraffin bath
- Gel hot packs
- Others
Localized Cold Therapy Product
- Vapocoolant sprays
- Thermal cooling blanket
- Disposable ice bags
- Cold packs
- Others

By Area of Application:

Neck
Shoulder
Knee
Back
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

By Region:

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

Author By:

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 faced by clients 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)

Contact Us:

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Future Market Insights Inc.
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Eco-Friendly Enclosures: Exploring Sustainable Food Clamshell Options

Food clamshells, also known simply as clamshells or food containers, are a type of packaging commonly used in the food service industry to package and serve a variety of food items. These containers are typically made from plastic, biodegradable materials such as PLA (polylactic acid), or fiber-based materials such as paperboard or bagasse. Clamshell containers are designed with hinged lids that snap shut to securely enclose the contents, providing protection during storage, transportation, and serving. They are available in various shapes and sizes to accommodate different types of food items and portion sizes.

The global Food Clamshells Sector is poised for substantial growth, with an estimated valuation of US$ 1.57 billion in the year 2023. As the usage of food clamshells continues to surge across a multitude of applications, the overall demand is projected to exhibit a compelling Compound Annual Growth Rate (CAGR) of 4.6% during the period spanning from 2023 to 2033. This growth trajectory is anticipated to culminate in an impressive market valuation of US$ 2.46 billion by the year 2033.

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Here are some key features and applications of food clamshells:

Key Features:

Hinged Design: Clamshell containers feature a hinged lid that folds over the base, providing a secure closure to prevent spills and leaks. The hinged design also allows for easy opening and closing, making them convenient for both customers and foodservice workers.
Versatility: Food clamshells are versatile and can be used to package a wide range of food items, including salads, sandwiches, burgers, wraps, grilled items, desserts, and more. They are suitable for both hot and cold foods and can be microwave-safe for reheating.
Durable Construction: Clamshell containers are made from sturdy materials that are resistant to grease, moisture, and temperature fluctuations, ensuring that the food remains fresh and intact during storage and transport.
Customizability: Clamshell containers can be customized with branding, logos, and designs to promote a foodservice establishment’s brand identity and enhance the presentation of the food. Custom printing options allow for branding and marketing messages to be displayed prominently on the container.
Eco-Friendly Options: In response to growing environmental concerns, many food clamshell manufacturers offer eco-friendly options made from biodegradable or compostable materials. These containers are designed to break down into natural elements after use, reducing environmental impact and promoting sustainability.

Applications:

Takeout and Delivery: Food clamshells are commonly used for takeout and delivery orders from restaurants, cafes, food trucks, and other foodservice establishments. They provide a convenient and hygienic way to package individual meals for customers to enjoy at home or on the go.
Catering and Events: Clamshell containers are popular for catering events, parties, picnics, and gatherings where individual portions of food need to be served. They allow for easy distribution and serving of food items while keeping them fresh and organized.
Grab-and-Go: Food clamshells are often used in grab-and-go settings such as convenience stores, delis, and grocery stores for packaging pre-made meals, salads, sandwiches, and snacks. They allow customers to quickly select and purchase food items for immediate consumption.
Food Trucks and Street Vendors: Clamshell containers are a staple for food trucks, street vendors, and mobile food carts that serve food items on the go. They provide a portable and efficient way to package and serve food to customers in outdoor settings.
Meal Prep and Portion Control: Clamshell containers are used for meal prep services, subscription meal kits, and portion control programs where individual servings of food are packaged and delivered to customers. They help ensure accurate portion sizes and convenient storage of prepared meals.

Key Players Profiled in the Market

Smurfit Kappa Group
VisiPak Inc.
WestRock Company
Parksons Packaging Ltd.
Sonoco Products Company
Placon Corporation Inc.
Dordan Manufacturing Company
Novolex Company
Plastic Ingenuity, Inc.
Highland Packaging Solutions
ClearPack Engineering, Inc.
Lacerta Group, Inc
QPC PACK
Klockner Pentaplast GmbH & Co. KG
Anchor Packaging LLC
EasyPak
Panic Plastics, Inc.
Agrahan Engineers

Industrial Chemical Packaging: Predicted to Rise by US$ 197.52 Billion in 2033, Fueled by Innovation of Packaging

Anticipated to maintain a steady growth trajectory, the industrial chemical packaging sector is forecasted to expand at a compound annual growth rate (CAGR) of 4.0% by the year 2033. Insights from FMI suggest that the revenue share of the market is poised to increase significantly, climbing from US$ 133.58 billion in 2023 to US$ 197.52 billion by 2033. This growth projection underscores the industry’s resilience and adaptability in meeting the evolving demands of various sectors reliant on industrial chemical packaging solutions. It reflects a positive outlook driven by factors such as technological advancements and increasing emphasis on safety and sustainability.

The market is propelled by the increasing consumption of active pharmaceutical ingredients, driven by the presence of leading pharmaceutical companies in the country. In the United Kingdom, the industrial chemical packaging is bolstered by the presence of key industry players and is expected to create an incremental opportunity of US$ 1.7 billion from 2023 to 2033. Increasing investments in organic chemical production are set to further boost the demand for convenient packaging solutions. The United Kingdom is anticipated to witness a 1.5x growth in the demand for industrial chemical packaging, positioning it as the third-largest market in Europe.

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Growth Drivers:

Increasing Demand for Chemicals: As various industries such as manufacturing, construction, automotive, and healthcare continue to grow, the demand for industrial chemicals rises, driving the need for efficient and safe packaging solutions.
Stringent Regulations: Regulations regarding the transportation and storage of chemicals, especially hazardous ones, have become increasingly stringent. This mandates the use of high-quality packaging that ensures safety and compliance, thereby driving the demand for specialized industrial chemical packaging solutions.
Technological Advancements: Innovations in packaging materials and technologies have led to the development of more durable, sustainable, and cost-effective packaging solutions. This includes advancements in barrier technologies to prevent chemical leakage and contamination.
Focus on Sustainability: With growing environmental concerns, there is a shift towards sustainable packaging solutions within the chemical industry. This includes the use of recyclable materials, reducing packaging waste, and implementing eco-friendly manufacturing processes, which can drive growth for companies offering such solutions.
Globalization of Trade: The globalization of trade has expanded markets for chemical manufacturers, leading to increased demand for packaging solutions that can withstand long-distance transportation and storage under varying environmental conditions.
Rapid Industrialization: Emerging economies undergoing rapid industrialization, particularly in regions like Asia-Pacific and Latin America, are witnessing increased demand for industrial chemicals and consequently, industrial chemical packaging solutions.

Industry Restraints:

Cost Pressures: The cost of specialized packaging materials and compliance with stringent regulations can put pressure on manufacturers, impacting profit margins. Balancing cost-effectiveness with regulatory compliance and quality standards poses a significant challenge.
Complexity in Regulations: Compliance with diverse and evolving regulations across different regions and jurisdictions adds complexity to the design and manufacturing process of industrial chemical packaging. This complexity can slow down innovation and market entry for new players.
Volatility in Raw Material Prices: Fluctuations in raw material prices, particularly for plastics and metals used in packaging, can affect the overall cost structure and profitability of chemical packaging companies.
Health and Safety Concerns: Mishaps related to chemical spills, leaks, or accidents during transportation and handling can have serious health, safety, and environmental consequences. Ensuring the integrity and effectiveness of packaging systems to mitigate such risks is a constant challenge.
Competition and Market Saturation: The industrial chemical packaging industry is highly competitive, with numerous players offering similar products and solutions. Market saturation in certain segments can lead to pricing pressures and reduced profitability.
Limited Adoption of Sustainable Practices: While there is a growing emphasis on sustainability, some companies may be slow to adopt eco-friendly packaging solutions due to concerns about cost, performance, or perceived complexity in transitioning their operations.

Key Takeaways from Industrial Chemical Packaging

Intermediate bulk containers are the most widely used packaging format for safe and easy transportation of industrial chemicals, as these containers are versatile, pallet mounted cost-effective. IBC’s currently account for more than 64% of industrial chemical packaging solutions sold worldwide.
Backed by the presence of the renowned pharmaceutical companies in the country, the U.S. is the largest consumer of chemical packaging solutions. The U.S. market is anticipated to offer incremental opportunities worth US$ 4.4 Bn over the next decade.
Recyclable and re-usable features make plastic preferred material in the industrial chemical packaging market. It is expected to account for over 40% of packaging solutions produced over the forecast period.
After witnessing slight decline in FQ-20, Germany market is expected to register a y-o-y growth of almost 4% in the year 2021.
Specialty chemicals segment will offer incremental opportunity of US$ 36.5 Bn between 2021 and 2031.

Industrial Chemical Packaging Landscape

Some of the key players dominating the global industrial packaging market are

ProAmpac,
Tote Systems International, LP,
US Display Group,
Myers Industries, Inc.,
Assmann Corp. of America,
DENIOS Ltd.,
Hoover CS,
Segezha Group GmbH,
CLA Containers,
Greif, Inc.,
RIKUTEC Group,
Müller Group,
Knack Packaging Private Limited,
Mauser Group B.V.,
PVN Fabrics Pvt. Ltd.,
Time Technoplast Ltd.,
Pyramid Technoplast Pvt Ltd.,
Tripura Containers Private Limited,
East India Drums & Barrels Mfg. Co and
Schuetz GmbH & Co. KGaA.

Recent Developments-

In October 2020, Myers Industries, Inc. acquired Elkhart Plastics, Inc., which is the fifth-leading rotational molder in the United States, to strengthen its product portfolio. The move is seen as part of its long-term strategic plan for transforming the company into a high-growth producer of engineered plastic solutions.
In April 2021, ProAmpac acquired two companies named IG Industries PLC and Brayford Plastics Ltd., based in the United Kingdom, for the production of recyclable packaging solutions.

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Key segments

By Packaging Format:

Intermediate bulk containers (IBCs)
Flexitanks
Drums
Pails & Jerry Cans
Bags & Sacks
Others (Bins & Liners, etc.)

By Material:

Metal
Plastic
Paper & Paperboard

By Chemical Type:

Specialty Chemicals
Commodity Chemicals

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

North America Leads Electrolyzer Market Surge [2022 to 2032] |Future Market Insights, Inc.

During the projection period, it is predicted that the electrolyzer market will maintain a steady CAGR of 32.21%. By 2033, the market is expected to be worth US$ 159.74 billion, up from US$ 9.79 billion in 2023, according to FMI. The market share of electrolyzers is expected to grow due to the increased development of innovative power solutions technologies and clean hydrogen production techniques. In the upcoming years, market expansion will be accelerated by government programs and rising investments in renewable resources. On the other hand, rising industrial feedstock and developing hydrogen plants to reduce carbon emissions are estimated to increase the adoption of electrolyzers. The end-user industries, including oil refineries and chemicals, are accelerating huge demand for electrolyzers in recent years. The electricity grid and coal gasification uplift the market share. Ready to make informed decisions for your business? Get our market overview sample and discover growth opportunities today https://www.futuremarketinsights.com/reports/sample/rep-gb-15970 The introduction of modern technologies, R&D activities, the presence of prominent vendors, and the growing production of hydrogen accelerated the market opportunities during the foreseen time. The rising Electric vehicles and other petroleum vehicles are rapidly growing with considerable revenue and are flourishing the market size during the forecast period. The alkaline electrolyzer segment dominates the global market due to holding a significant share of 59% during the forecast period. The potassium hydroxide, hydroxide ions, and electrodes are the alkaline electrolyte solutions used for nickel catalysts. The rising power plant and energy generators are increasing the adoption of alkaline electrolyzers during the forecast period. The growing infrastructure and rising consumption of power by end-users are increasing the US electrolyzers market growth during the forecast period. Key Takeaways from the Electrolyzer Market

North America is leading the global market with rising manufacturing companies and the power industry is accelerating the demand for electrolyzers in recent years.
The global electrolyzer market valuation stands at US$ 159.74 Bn by 2033 with a CAGR of 32.21%.
The market for electrolyzers increased from US$ 7.40 Bn between 2017 and 2021 with an impressive CAGR of 32.21%.
The alkaline electrolyzer segment dominates the global market due to holding a significant share of 59% during the forecast period.
The rising government policies, urbanization, and renewable resources are expanding the Japan electrolyzer market size.

Who is Winning ? The number of prominent vendors is advancing the global market during the forecast period. These vendors play an essential role in the market by collecting better revenue during the forecast period. These players are focusing on the end-user’s requirements as per their demand in recent years. These players are making several marketing strategies to acquire a maximum share during the foreseen time. The rising R&D activities and generating power through modern technologies uplift the market during the forecast period. Some of the marketing tactics adopted by these players include collaborations, partnerships, mergers, acquisitions, agreements, and product launches. Recent Developments in the Electrolyzer Market are: In Jan 2022, Logan Energy Company deals an agreement with Green Hydrogen Systems to provide electrolysis equipment in England. A container of 40 feet is likely to be utilized to form an electrolytic system in the coming period. Seize this Opportunity for Detailed Market Intel: Purchase Now to Access Comprehensive Segmented Information, Identify Key Trends, Drivers, and Challenges https://www.futuremarketinsights.com/checkout/15970 Segmentation by Category in the Market for Electrolyzer By Type:

Solid Oxide Electrolyzer
PEM Electrolyzer
Alkaline Electrolyzer

By Application:

Power Plant
Photovoltaics
Steel Plant
Electronics
Power to Gas
Energy Storage for Fuel Cells
Industrial Gases
Others

By Capacity:

500 KW
500KW – 2 MW
Above 2 MW

By Region:

North America
Latin America
Europe
Asia Pacific
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 is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries Contact Us: Nandini Singh Sawlani Future Market Insights Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware – 19713, USA T: +1-845-579-5705 For Sales Enquiries: sales@futuremarketinsights.com Website: https://www.futuremarketinsights.com LinkedIn| Twitter| Blogs | YouTube

Ethno-Tourism Community-Based Eco-Tourism Market Ascending to US$ 88,003 Million in 2033 | FMI

Ethno-Tourism and Community-Based Eco-Tourism Market

The global ethno tourism community based eco tourism market is expected to accrue a valuation of US$ 88,003 million by 2033, scaling up from US$ 12,201 million in 2023. The target market is set to grow at an astounding CAGR of 21.8% from 2023 to 2033. This market is primarily driven by a surge in the per capita income at individual levels. The rising awareness of the positive influence of ethno-tourism on society and the environment also supplements the growth of the ethno-tourism community-based eco-tourism market in this period of observation.

Ethno-tourism provides a platform where people can discover ethnic populations and learn more about unique cultures and customs by visiting and interacting with locals. Ethno-tourists travel all over the world to experience native culture and enhance their understanding of native people. This subset of tourism is particularly prevalent in geographies with diverse populations, rich histories, and legacies such as Africa, India, Japan, and others.

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Ethno-tourism community-based eco-tourism includes native performances, presentations, and acts put on by a region’s indigenous population. This type of tourism also provides a broader perspective on village-based tourism, cultural anthropology, and tribal heritage. Since it is difficult to distinguish ethnic tourism from the landscape it occurs in, ethno-tourism is intertwined with ecotourism. However, ecotourism is another segment under travel and tourism where travelers visit different locations with the purpose of enjoying nature. Initiatives from different tourist boards and favorable government policies with variations in tour types will facilitate the growth of the ethno-tourism community-based eco-tourism market during the forecast period.

Increasing per capita income and the experience that travelers get from engaging with different cultures act as growth drivers for the ethno-tourism community-based eco-tourism market. As the younger generation and urban population of various countries grow more open towards other cultures, and there continues to be a rise in per capita income, the demand for ethno-tourism community-based eco-tourism market will also rise over the projection period.

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Key Takeaways:

With the expanding tourism sector in India, the ethno-tourism and eco-tourism sectors will also undergo strong growth as travelers seek out ethnic experiences at popular and attractive locations.
South African region is expected to dominate the global ethno-tourism community-based eco-tourism market during the assessment period.
By tour type, the group category will generate greater demand for the market during this period.
Based on age group, the 21-35 segment has been observed to prefer ethno- and eco-tourism as compared to other age groups.

Competitive Landscape

As a labor-intensive market, ethno-tourism community-based eco-tourism has immense economical benefits. Significant market players are keen on offering various tour programs including guided tours and ethnic cuisine experiences. Engagement with the local environment and culture offered by this type of tourism has more advantages than disadvantages for a nation.

More Insights into Ethno Tourism Community Based Eco Tourism Market

FMI offers the latest, detailed, and unbiased analysis of the global ethno-tourism community-based eco-tourism market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of age, demographic, nationality, tour type, and region.

According to the reports, based on segmentation, online booking channels are the most popular as it offers more options and convenience. In terms of age group, the 21 to 35 category is the most common age group to opt for ethno-tourism. The group tour type also opens growth avenues for the market.

Based on region, the ethno-tourism community-based eco-tourism market in South African terrains will dominate the global marketplace. The target market in this region is shaped by rich cultural, linguistic, and natural backgrounds. The ethno-tourism market has also been beneficial to the regional economy by creating more jobs and earning opportunities. In addition to the southern African subregion, India also presents notable growth in the ethno- and eco-tourism market. Many travelers are attracted to popular and pleasing locations within India where they can garner a better knowledge of native people, life, and culture. All of these considerations propel the ethno-tourism community-based eco-tourism market forward in the upcoming years.

Ethno-Tourism Community Based Eco Tourism Market by Category

By Age:

Under 18
18-25
26-35
36-45
46-55
Over 55

By Demographic:

Male
Female
Kids

By Nationality:

Domestic
International

By Tour Type:

Group
Solo

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