Market Research Blog – Page 3675 – New Product Development

Bubble Wrap Packaging in Japan: Projected to Reach US$ 51 Million Valuation by 2033 – Factors Driving Growth and Industry Insights

The bubble wrap packaging sector in Japan is expected to witness a steady Compound Annual Growth Rate (CAGR) of 1.90% through 2033. Anticipated sales indicate a substantial surge, with the overall demand for bubble wrap packaging projected to surpass US$ 42 million by 2023. By 2033, sales projections suggest that the market for bubble wrap packaging in Japan will reach a valuation of US$ 51 million. This growth trajectory reflects the increasing adoption of bubble wrap packaging solutions across various industries in Japan, driven by factors such as e-commerce expansion and heightened focus on product protection during transit.

Bubble Wrap Packaging in Japan- Factors Boosting Industry

Rising Demand: The overall demand for bubble wrap packaging in Japan is on the rise, fueled by various industries seeking effective protection for their products during transportation and storage.
E-commerce Growth: With the booming e-commerce sector in Japan, the need for secure packaging solutions like bubble wrap is escalating to ensure safe delivery of goods to customers.
Product Protection: Bubble wrap packaging offers excellent cushioning and shock absorption, safeguarding fragile items from damage caused by impacts or vibrations during transit.
Consumer Preference: Consumers increasingly prefer products that arrive intact, prompting businesses to invest in reliable packaging solutions like bubble wrap to enhance customer satisfaction.
Environmental Considerations: While plastic packaging is dominant, there’s a growing focus on sustainable alternatives, leading to innovations in biodegradable or recyclable bubble wrap materials.
Industrial Expansion: Growth in manufacturing sectors such as electronics, pharmaceuticals, and automotive further drives the demand for protective packaging materials like bubble wrap to ensure product integrity.

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Growth Drivers:

E-commerce Boom: Japan has witnessed a significant increase in online shopping, especially with the rise of e-commerce giants like Rakuten and Amazon Japan. This surge in online retail translates to higher demand for protective packaging materials such as bubble wrap to ensure safe delivery of products.
Increasing Demand for Consumer Electronics: Japan is known for its advanced technology and electronics industry. With the continuous introduction of new electronic gadgets and devices, there is a growing need for protective packaging to safeguard these products during transportation and storage.
Focus on Product Quality and Customer Satisfaction: Japanese businesses place a high emphasis on product quality and customer satisfaction. Utilizing high-quality packaging materials like bubble wrap not only protects products but also enhances brand reputation by ensuring that items arrive in pristine condition.
Growing Awareness of Sustainable Packaging: With increasing environmental consciousness globally, there’s a shift towards sustainable packaging solutions. While bubble wrap is traditionally made from plastic, there’s a rising demand for eco-friendly alternatives or recyclable options in Japan, driving innovation in the industry.
Customization and Branding Opportunities: Companies are increasingly using packaging as a tool for branding and marketing. Bubble wrap can be customized with logos, messages, or branding elements, offering businesses a unique way to engage with customers and differentiate their products in the market.

Industry Restraints:

Environmental Concerns: As mentioned, the environmental impact of plastic packaging is a significant concern. While bubble wrap provides excellent protection, its disposal poses challenges for recycling and waste management. This has led to calls for alternative materials or recycling initiatives, which may increase production costs.
Regulatory Pressures: Government regulations regarding plastic usage and waste management are becoming stricter globally, including in Japan. Compliance with these regulations may require investments in research and development for eco-friendly alternatives or adherence to recycling mandates, adding compliance costs to businesses.
Cost of Production: The production cost of bubble wrap, especially if using eco-friendly materials, may be higher compared to traditional plastic variants. This can affect profit margins for manufacturers, unless they can pass on the cost to consumers or optimize production processes for efficiency.
Competition from Substitute Materials: Bubble wrap faces competition from other protective packaging materials such as air pillows, paper-based cushioning, and biodegradable options. Depending on specific requirements like cost, durability, and environmental impact, businesses may opt for alternatives over traditional bubble wrap.
Market Saturation and Price Sensitivity: The bubble wrap market in Japan may reach saturation in certain segments, leading to intense competition based on price. This can put pressure on margins and limit growth opportunities for companies, particularly smaller players without strong differentiation or value-added services.

Some of the Key Players in Bubble Wrap Packaging in Japan

Sealed Air Corporation
Fuji Seal International, Inc.
Uchida Yoko Co., Ltd.
Nitto Denko Corporation
Nippon Pillar Packing Co., Ltd.
Toyobo Co., Ltd.
Nihon Yamamura Glass Co., Ltd.
Shirohato Co., Ltd.
Japan Vilene Company, Ltd.
Air Sea Containers Japan Ltd.

Recent Developments in Bubble Wrap Packaging in Japan

In November 2022, Sealed Air Corporation acquired Liquibox to use its packaging solutions, such as bag-in-box. Sealed Air Corporation aims to expand into new industrial sectors with this acquisition.
On March 22, 2023, Nippon Pillar Packing Co., Ltd. agreed to buy Tanken Seal Seiko Co., Ltd. from AG Chorus Limited Partnership, AG Concert Limited Partnership, and AG III Investment Limited Partnership controlled by Aspirant Group, Inc.

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Key Segments

By Product:

Bubble Sheers
Bubble Bags/Mailers

By Material:

LPDE
HDPE
LLDPE

By End Use:

Manufacturing & Warehousing
Pharmaceuticals
Electronics & Electricals
Automotive & Allied Industries
Food & Beverages
Cosmetics & Personal Care
Others (Agriculture, Healthcare etc.)
eCommerce
Logistics & Transportation

By Cities/Provinces:

Kanto
Chubu
Kinki
Kyushu & Okinawa
Tohoku
Rest of Japan

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)

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Europe Golf Tourism Market Expected to Contribute US$ 6,865.0 Million in Tourism Revenue by 2033 | FMI

Future Market Insights (FMI) reveals that Europe golf tourism market revenue is set to reach US$ 3,333.7 million by the end of 2023. In 2033, the Europe golf tourism industry is estimated at around US$ 6,865.0 million. Sales are likely to expand at 7.5% CAGR during the forecast period 2023 to 2033.

The Europe golf tourism industry is a thriving industry that appeals to golf enthusiasts worldwide. Europe offers an array of renowned golf destinations, including Scotland, Ireland, Spain, Portugal, England, and France, each with its distinct golfing experiences. The region boasts numerous golf courses, ranging from traditional links to modern resort complexes, designed by esteemed architects.

Europe also hosts prestigious golf events like the Open Championship and Ryder Cup. These attract top professional golfers and high generate interest among golf tourists. The well-developed golf infrastructure includes private clubs, resort courses, and public facilities. They are now providing comprehensive services and accommodations for travelers.

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Europe’s accessibility through its extensive transportation network, and proximity between countries allows tourists to combine golf with cultural and historical attractions. This, overall, makes Europe an attractive travel destination.

The market is supported by specialized golf tour operators, online travel agencies, and online platforms. They offer tailored packages and simplify the planning process for tourists on a schedule. With growing demand for golf experiences and a wide range of offerings, the Europe golf tourism industry continues to thrive and entice golf enthusiasts from around the world.

Numerous travel agencies and tour operators specialize in organizing golf packages and tours in Europe. These packages often include accommodations, tee times, transportation, and other amenities. They help in providing convenience and comfort to golf tourists.

Several golf tourists look for destinations that offer a mix of golfing opportunities and other leisure activities. European countries provide a wide range of options. These include cultural attractions, fine dining, wine tours, and outdoor adventures, allowing visitors to have a well-rounded experience.

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Technology is playing a vital role in enhancing the golf tourism experience. Mobile apps and online platforms provide golfers with easy access to properties and providers. It includes course information, bookings, and virtual tours making it convenient for tourists to plan their trips.

Key Takeaways from the Market Report:

Europe golf tourism market is projected to exhibit a CAGR of 7.5% during the forecast period from 2023 to 2033.
In 2033, the revenue generated from the Europe golf tourism market is about US$ 6,865 million.
Europe golf tourism industry is estimated to hold a valuation of around US$ 3,333.7 million by 2023.
Spain is set to account for the lion’s share in the Europe golf tourism market and increase at 7.8% CAGR between 2023 and 2033.
Based on group type, corporate group is likely to hold about 28% shares in the Europe golf tourism industry by 2033.

Who is winning?

Leading players in Europe golf tourism industry are

AGS Golf Vacations
Carr Golf Travel
Classic Golf Tours
Club Choice Ireland
Elite Golf Experiences
FAIRWAY Golf Resort
Golf Escapes
Your Golf Travel
The Golf Travel People
The Golf Travel People
Golf Tours International
Golf Plaisir
Golf International
Golf Explorer
Executive Golf & Leisure
com
Scottsdale Golfing
PerryGolf,
Celtic Golf

Key manufacturers are focusing on developing high-quality golf equipment. It includes clubs, balls, bags, and accessories. They can invest in research and development to introduce new technologies and material. It will help in enhancing performance and appeal to golfers.

They are also sponsoring golf tournaments, professional players and unique selling propositions to target specific segment of golfers. They are also partnering with retailers, pro shops, and resorts to showcase and sell their products.

Recent developments:

In June 2023, Golf has been bitterly divided until the PGA Tour, European Tour, and rival Saudi-funded LIV Golf circuit unveiled a historic deal to consolidate and create a commercial organization to unify the sport.

Europe Golf Tourism Market by Category

By Direct Suppliers:

Airlines
Hotel Companies
Tour Operators

By Indirect Suppliers:

OTA (Online Travel Agency)
Traditional Travel Agencies
TMCs (Travel Management Companies)
Aggregators

By Number of Bookings:

By Purpose:

Tournament
Leisure

By Age Group:

15 to 25 years
26 to 35 years
36 to 45 years
46 to 55 years
56 to 65 years
66 to 75 years

By Booking Method:

Travel Agent
Online Direct

By Demographic:

Male
Female

By Nationality:

Domestic
International

By Group Type:

Corporate
Family
Couples
Youth Groups
Single Tourist

By Country:

Scotland
Ireland
United Kingdom
Germany
Spain
France
Portugal
Italy
Czech Republic
Turkey
Poland
Hungary
Romania
Bulgaria

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Banding Machine Market Value: Industry Rising to US$ 7.79 Billion by 2033

A banding machine, also known as a strapping machine or bander, is a piece of equipment used to securely strap or band together items or packages for transportation, storage, or presentation purposes. These machines are commonly used in various industries such as manufacturing, distribution, logistics, and packaging.

The global banding machine market is on a trajectory toward significant growth, with projections indicating a market value of approximately US$ 4.92 billion by 2023. This robust expansion is poised to continue, driven by the increasing adoption of banding machines in diverse industries, including food and beverages, electronics, e-commerce, logistics, pharmaceuticals, and more. Forecasts suggest a steady growth rate of 4.7% between 2023 and 2033, culminating in a substantial market valuation of US$ 7.79 billion by 2033.

Emerging trends underscore the escalating demand for advanced packaging solutions across a spectrum of industries, acting as a pivotal catalyst for boosting revenues in the banding machine market over the next decade. Projections further indicate that by the end of 2023, the top three countries are expected to collectively hold a significant share of approximately 35 to 40% of the global banding machine market, attesting to its global prominence.

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Market Drivers

Automation in Packaging: The growing trend toward automation in packaging and the need for efficient, high-speed bundling are driving the demand for banding machines.
Cost Efficiency: Banding machines are cost-effective as they use minimal material compared to traditional strapping methods, reducing operational costs.
Versatility: Banding machines can bundle a wide range of products, making them versatile and suitable for diverse industries, from food to print and manufacturing.
Eco-Friendly Packaging: Banding machines often use recyclable materials, aligning with the increasing demand for eco-friendly and sustainable packaging solutions.
Ease of Use: Banding machines are user-friendly and require minimal training, enhancing operational efficiency.
Speed and Efficiency: Banding machines provide fast and efficient bundling, reducing labor costs and increasing productivity.

Key Market Trends

The imperative of ensuring safe and secure product delivery to customers has never been more critical. With the exponential growth of commercial trade, the shipping and logistics industries find themselves grappling with a significant surge in workload. Amidst this backdrop, one of the formidable challenges confronting these industries is the need for robust product packaging that can effectively shield items from tampering, damage, or mishandling during transit.

Similarly, prominent sectors including food and beverage, electrical and electronics, pharmaceuticals, and numerous others are encountering their own set of challenges when it comes to preserving the integrity of their products during packaging and transportation. In response to these challenges, these industries are increasingly turning to the deployment of banding machines.

Efficient banding, facilitated by banding machines, plays a pivotal role in streamlining the branding process, allowing for the seamless presentation of corporate identity on store shelves. This strategic placement enables marketing information to be cleverly and prominently displayed on the banding, significantly increasing the likelihood of catching the eye of discerning consumers. In essence, banding not only serves as a functional bundling solution but also as a powerful branding tool that elevates product recognition and market presence.

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Leading Players

Dynaric, Inc
StraPack, Inc.
Transpak Equipment Corp.
Signode Industrial Group LLC
Fromm Holding AG
ATS-Tanner Banding Systems AG
FELINS
Bandall International.
Avi International Packaging Co.
The Plastic Strapping Company Ltd
Pack Machines Private Limited.
Millenium Packaging.
TPC Packaging Solutions
Soundpoen Packing Solution Co., Ltd

Banding Machine Market by Category

By Operation:

Semi-automatic
Automatic

By Strapping Speed:

1.0-1.5 sec/straps
1.6-2.0 sec/straps
Above 2.0 sec/straps

By End Use:

Food & Beverage
E-commerce
Pharmaceuticals
Electrical & Electronics
Household
Shipping & Logistics
Printing

By Region:

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

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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Global Pipette Tips Market is on track to reach US$ 1.47 billion by 2032, reflecting exponential growth | FMI

The global pipette tips market is gearing up for unprecedented growth, as recent market analyses project an impressive Compound Annual Growth Rate (CAGR) of 8% from 2022 to 2032. In 2022, the market boasted a revenue of US$ 680.40 million, and industry experts foresee a substantial surge, catapulting the market to an estimated valuation of US$ 1.47 billion by 2032.

Pipette tips, the indispensable components in laboratory workflows across diverse industries such as pharmaceuticals, biotechnology, and research, are experiencing a consistent rise in demand. This surge is attributed to advancements in life sciences and research activities, driving the need for precise and efficient liquid handling solutions. This increasing demand stands as a pivotal force behind the remarkable growth trajectory of the global pipette tips market.

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The exponential growth of the pipette tips industry is a testament to the crucial role it plays in facilitating laboratory operations worldwide. As laboratories in pharmaceuticals, biotechnology, and research intensify their focus on precision and efficiency, the demand for high-quality pipette tips is poised to soar.

Notable industry analysts are optimistic about the sustained growth, citing the expanding applications of pipette tips in various sectors. The versatility of these essential components in catering to evolving research needs is expected to further propel the market forward.

This growth trajectory signifies not only the market’s potential but also the industry’s commitment to providing cutting-edge solutions that meet the evolving demands of the scientific community. The global pipette tips industry is poised to shape the future of laboratory operations, contributing significantly to advancements in life sciences and research.

Pipette Tips Market Overview:

The pipette tips market has experienced steady growth in recent years due to the increasing demand for advanced laboratory equipment and the rising focus on research and development activities. The market is driven by factors such as technological advancements, automation in laboratories, and the need for accurate and precise liquid handling.

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Key Factors Driving the Market:

Growing Research and Development: The expanding research and development activities in life sciences, biotechnology, and pharmaceutical industries have created a demand for pipette tips. These tips are used for precise liquid handling, ensuring accurate and reproducible results.
Advancements in Laboratory Automation: The increasing adoption of laboratory automation systems, including automated liquid handling systems, has significantly boosted the demand for pipette tips. These systems require disposable tips for contamination control and efficient workflow management.
Increased Focus on Quality and Productivity: Laboratories are increasingly focusing on enhancing productivity and ensuring quality control in their operations. Pipette tips play a crucial role in achieving these objectives by minimizing the risk of cross-contamination and offering reliable performance.

Key Takeaways:

The standard product segment dominates the pipette tips market in product insight. It accounts for 32.5% of total revenue and is expected to grow at a healthy rate in the future.
In terms of technology insight, the non-robotic pipette tip segment is anticipated to have highest revenue in the pipette tips market share of 56.4% through 2032 and is expected to grow significantly during the forecast period.
In terms of application insight, the pharma and biotech segment dominates the pipette tips market, accounting for 32.3% of total revenue. The segment is expected to grow at the fastest CAGR during the forecast period, maintaining its leading position in the pipette tips market.
North America dominates the pipette tips market, accounting for 37.5% of the total revenue.

Competitive Landscape:

New market research report on pipette tips will offer valuable insight into the market, with a focus on some of the major players such as Thermo Fisher Scientific, Sartorius AG, CORNING INC., Mettler Toledo, Tecan Trading AG, Hamilton Company, Eppendorf AG, and others.

Pipette tips market participants’ key strategic initiatives include new product development, collaborations, regional expansions, and mergers.

Recent Development:

Collaboration:

Moderna, Inc., a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and Thermo Fisher Scientific Inc. announced a 15-year strategic collaboration agreement in 2022 to enable dedicated large-scale manufacturing in the United States of Spikevax, Moderna’s COVID-19 vaccine, and other investigational mRNA medicines in its pipeline, resulting in increased use of essential lab supplies such as pipette tips.

Expansion:

Thermo Fisher Scientific announced a $140 million investment to expand its laboratory plastics disposables production in order to meet global demand for pipette tips during COVID-19 testing, as well as for the development and manufacturing of therapies and vaccines.

Acquisition:

Sartorius has acquired Biological Industries Ltd., a manufacturer of cell culture and molecular biology research products.

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Key Segments:

By Product:

Standard
Filtered
Low-retention
Others

By Technology:

Robotic
Non-robotic

By Applications:

Diagnostics and Healthcare
Pharma and Biotech
Academia and Education
Others

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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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United States Boutique Hotel Market Poised for a Staggering US$ 29.3 Billion Growth by 2033 | FMI

The United States boutique hotel market is set to reach US$ 17.6 billion in 2023. It is anticipated to reach US$ 29.3 billion by 2033 and expand at a CAGR of 5.2% during the forecast period 2023 to 2033.
Modern travelers are placing more emphasis on experiential travel, where they seek immersive experiences. This allows them to connect with the local culture and environment. Boutique hotels often reflect the character and charm of their surroundings.
Boutique hotels offer guests a chance to engage with the destination on a deep level. This aligns with the prevailing trend of experiential travel and contributes to the increasing demand for boutique hotels.
The young generations, specifically millennials and Gen Z, exhibit a strong preference for unique, boutique-style accommodations. They tend to value authenticity, local experiences, and personalized service.
Young generations continue to urge in prominence as a significant segment of the travel market. Their preferences will be key to the steady growth of boutique hotels over the forecast period.

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Consumer preferences have shifted towards supporting local businesses, sustainability, and ethical practices. Boutique hotels often embody these values by sourcing locally, implementing eco-friendly initiatives, and engaging with the local community.

Such practices resonate with conscientious travelers who are willing to pay a premium for responsible and sustainable hospitality experiences. These factors are expected to fuel the growth of boutique hotels.

Unlike large chain hotels, boutique hotels are typically small in size, featuring few rooms and a more intimate experience. This creates a sense of exclusivity and allows for a personalized and intimate guest experience.

Several boutique hotels strive to provide guests with authentic local experiences. They often collaborate with local businesses and organize unique activities. They offer a curated experience that allows guests to explore and immerse themselves in local cultures.

Boutique hotels also provide high-quality dining experiences. They might also have on-site restaurants or partner with renowned chefs to offer innovative and locally inspired menus. They emphasize farm-to-table ingredients, and create a memorable culinary experience.

Key Takeaways from the Report:

The United States boutique hotel market is expected to be valued at US$ 29.3 billion by 2033.

In terms of purpose, leisure & vacation visit segment accounted for the lion’s share in the market.

By age group, 26 to 35 years segment is expected to prefer to visit boutique hotels more.

In terms of duration of visit, a 4 to 6-night trip is estimated to account for a relatively high share in the target market.

Based on nationality, the domestic travellers’ segment held around 54.6% shares in 2022.

By demographics, men travellers are more prevalent in the target market and held a share of 55.4% in 2022.

The market was valued at US$ 16.9 billion in 2022.

The market experienced a Y-o-Y growth of ~4.4% during 2022 to 2023.

“Demand for unique and personalized hospitality experiences. The comprehensive analysis underscores the sector’s resilience, showcasing a vibrant blend of upscale amenities and distinct charm, positioning boutique hotels as key players in the evolving hospitality industry.” Says Ronak Shah (Associate Vice President at Future Market Insights).

Who is winning?

Boutique hotels differentiate by prioritizing personalized, authentic experiences, unique design, and local culture integration. Through technology and continuous innovation, they position themselves as distinctive destinations in the hospitality industry, aiming to create a one-of-a-kind atmosphere for guests.

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Key Companies Profiled:

Ace Hotel
Kimpton Hotels
Thompson Hotels
The Standard Hotels
The Hoxton
21c Museum Hotels
Graduate Hotels
Joie de Vivre Hotels
Proper Hotels
The James Hotels

For instance,

In April 2023, the second boutique hotel under the Kimpton Hotels & Restaurants brand will open in New York City, part of the luxury and leisure portfolio of IHG Hotels & Resorts.

In May 2023, three new hotels will be managed by Life House, an innovative hotel management firm, in Texas.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of United States & Canada boutique hotel market. It presents a historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study divulges compelling insights on boutique hotel market by nationality type (domestic and international), by tour type (independent traveller and tour group), by demographic (men and women), by age group (15 to 25 years, 26 to 35 years, 36 to 45 years, 46 to 55 years, 66 to 75 years), by duration of visit (1 to 3 nights, 4 to 6 nights, 7 nights & more), by purpose of visit (professional & business, visiting friends & family, leisure & vacation), by organization of stay (package and non-package).

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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Virtual Tourism Market Eyes Remarkable Growth, Projected US$ 26 Billion by 2033 | FMI

As per the latest findings of Future Market Insights, the global virtual tourism market is expected to be 12.3 Billion by 2023. In the long term, virtual tourism is estimated to reach around 26.0 Billion in 2033.

Virtual tourism serves as a way to explore the destination, travel venues, and attraction sites without actually visiting the site. Virtual tourism brings amazing experiences, which is made possible due to the advancement in technology. Virtual tours bring a new form of marketing that brings the opportunity for tourists to experience tours in a visual environment.

With the rising adoption of smartphones, and various technological advances in terms of tours, the experience of virtual tours holds significance and it is driving the tourism market. Since virtual tours can be experienced through smartphones and big screens, more and more people are choosing them these days.

The implementation of Augmented Reality (AR) is bringing new growth opportunities for the virtual tourism sector and with the aid of contemporary smartphones, virtual tours are bound to expand on a larger scale and extended to reach more people.

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Key Trends in the Virtual Tourism Market

The virtual tourism market is experiencing a transformative shift as technological advancements continue to redefine the way we explore the world. In an era marked by global connectivity and immersive digital experiences, several key trends are shaping the landscape of virtual tourism. This content highlights some of the pivotal developments driving this dynamic industry.

Immersive Technologies Take Center Stage: Virtual Reality (VR) and Augmented Reality (AR) technologies are at the forefront of the virtual tourism revolution. These immersive technologies offer users the ability to explore destinations in a realistic and interactive manner, transcending geographical boundaries. The integration of VR and AR is enhancing the overall user experience, making virtual tourism an increasingly attractive alternative to physical travel.
Virtual Guided Tours and Experiences: The rise of virtual guided tours and experiences allows users to virtually visit iconic landmarks, museums, and cultural sites from the comfort of their homes. Companies are leveraging high-quality 360-degree videos and virtual guides to provide users with a personalized and informative journey, creating a more engaging and educational virtual tourism experience.
Collaboration with Travel Industry Players: Virtual tourism is not viewed as a competitor to traditional travel but rather as a complementary experience. Key players in the travel industry, such as airlines, hotels, and travel agencies, are recognizing the potential of virtual tourism in marketing and customer engagement. Collaborations between virtual tourism platforms and these industry players are on the rise, offering users a seamless blend of physical and virtual travel experiences.

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Global Virtual Tourism Market by Category

By Direct Suppliers:

Airlines
Hotel Campaigns
Tour Operators
Government Bodies

By Indirect Suppliers:

Online Travel Agency
Traditional Travel Agencies
Travel Management Companies
Corporate Buyers
Aggregators

By Number of Bookings:

By Age:
- Under 18
- 18-35
- 36-45
- 46-55
- Over 55
By Demographic:
- Male
- Female
- Kids
By Booking Channel:
- Online Booking
- Booking via Agent

By Tour Type:

360 Virtual Tour
3D Virtual tour
Virtual Reality Tour

By Country:

U.S.
Canada
Brazil
Mexico
Germany
U.K.
France
Spain
Russia
India
China
Japan
Malaysia
Singapore
Australia
UAE
KSA
Italy
Qatar
Oman
RoW

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M2M Services Market Grows at 25.2% CAGR, Hits US$ 376.3 Billion by 2032

The global M2M services market is projected to reach US$ 376.3 Billion by 2032. The market is expected to reach a CAGR of 25.2% during the forecast period from 2022 to 2032. The absolute dollar market value for M2M services was ranked at US$ 336.5 Billion in 2016–2021 during the forecast period.

In recent years, there has been unprecedented growth in embedded devices. These devices traditionally worked independently as well as locally and provided services to humans in their environment. The advancements in radio technologies have enabled mobile devices to be easily connected to target devices using the Internet.

Applied to devices such as sensors, RFID tags, actuators, vehicles, machines, and industrial embedded devices, these trends can now be seen in the number of case studies that use physical equipment services.

The managed M2M services provide a wireless interface between machines and devices, thus allowing them to be transformed into smart assets, creating new opportunities for growth while enhancing customer service.

By using these services, businesses can optimize the efficiency and productivity of the business activities associated with connected machines, stimulating innovation, enabling faster decision-making, and reducing the need for time, effort, and cost.

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Key Takeaways from the M2M Services Market Report:

Market growth is expected to reach a CAGR of 25.2% in the forecast period, valuing the global M2M services market at US$ 39.7 Billion.
In India, the market is predicted to reach US$ 18.9 Billion while growing at a CAGR of 28% during the forecast period.
China’s market will grow at a 26.8% CAGR during the forecast period.
U.S. recorded a CAGR of 24.7% CAGR during the forecast period.
Connectivity and Data Storage Services is expected to reach a CAGR of 25.5% during the forecast period between 2022 and 2032.

M2M Services Competitive Landscape:

In October 2021, Wavecom S.A. signed a definitive agreement to acquire Anyware Technologies, a leading provider of client-server software solutions for machine-to-machine (M2M) applications located in Toulouse, France. Having been a Wavecom technology partner for several years, Anyware Technologies is pleased to join forces with Wavecom technologies in further enhancing the deployment of our complete turn-key solutions that enable customers to create wireless products that seamlessly integrate with their IT infrastructure.
SONDA acquired M2M solutions in September 2021 as part of its strategic plan for the 2019–2021 period, which focuses on strengthening four key industries at a regional level: transportation, retail, financial services, and government. With their proven track record of successful transport solutions, Sonda has assisted in improving the quality of life of Latin Americans by transforming the way they move daily. Throughout the years, SONDA has built a solid base of expertise that M2M solutions can strengthen over the years.

Leading Key Players:

AT&T
Germalto NV
PTC
Oracle
Ericsson AB
VERIZON COMMUNICATIONS INC
Deutsche Telekom AG
Vodafone + Telefonica
Aeris

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M2M Services Market Segmentation:

By Organization Size:

Large Enterprises
SMEs

By Service Type:

Managed
Professional
Connectivity and Data Storage

By Application:

Retail
Manufacturing
Healthcare
Automotive
Consumer Electronics
Energy and Mining
Transportation and Logistics
Oil and Gas
Others (Education, Hospitality)

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Authored By:

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

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

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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Free Standing Display Units (FSDU) Market Size: Industry Worth US$ 5.41 Billion by 2033

The free standing display units (FSDU) market is poised for significant growth, with an anticipated average compound annual growth rate (CAGR) of 5.2% projected between 2023 and 2033. The market’s robust trajectory is expected to result in a substantial market share of US$ 5.41 billion by 2033, compared to its estimated value of US$ 3.26 billion in 2023.

These dynamics underscore the pivotal role played by FSDUs in visual merchandising and product promotion, enhancing brand awareness, and delivering cost-effective marketing solutions in an ever-evolving retail environment. As the retail sector continues to transform, FSDUs are positioned to remain essential tools for engaging consumers and driving sales.

Several factors contribute to the positive outlook for the FSDU market. Notably, the rising urbanization in developing countries and evolving consumer lifestyles are driving the expansion of retail stores, which bodes well for the market during the forecast period. A prime example is India, where the retail industry is characterized by intense competition, featuring over 13 million Kirana stores. Leading entities, such as Reliance Retail Limited, Aditya Birla Fashion and Retail, Avenue Supermarts Limited, Shoppers Stop, and Future Group, are instrumental in shaping the Indian retail landscape.

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Growth Factors

The global expansion of supermarket chains is expected to exert a significant influence on driving the free standing display units (FSDU) market during the forecast period. As these chains continue to proliferate, the demand for FSDUs is likely to surge, driven by the need for effective product inventory management and strategic shelf space allocation in retail environments. This focus on optimizing product placement and visibility is set to be a crucial factor contributing to market growth throughout the assessment period.

In addition to this, innovative product launches, like Little Freddie’s introduction of the United Kingdom’s first baby food pouch carrying the OPRL label for home recycling, require sufficient display and exposure in retail spaces. This growing need for product showcasing is expected to drive demand for free standing display units among food chains, benefiting the industry throughout the forecast period. These developments highlight the critical role that FSDUs play in product promotion and presentation, aligning with the evolving demands of the food and beverage market.

Restraints:

Retail Trends: The shift to e-commerce and online shopping has altered the retail landscape, potentially reducing the need for physical FSDUs.
Space Limitations: Retail floor space can be limited, and crowded stores may not have sufficient room for multiple FSDUs, limiting their effectiveness.
Environmental Concerns: The production and disposal of FSDUs can have environmental implications, including material waste and energy use, prompting the need for eco-friendly solutions.
Competition: With numerous brands and products vying for customer attention, the impact of individual FSDUs can be diminished.
Maintenance and Restocking: Retailers need to regularly maintain and restock FSDUs to ensure they remain effective, which can be time-consuming and costly.

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Key Players

Bladen Box
Silverpoint Display
Diamondpak
Pinterest
Splash Display Ltd
Daytona
Cardboard Box Company
WH Skinner
Atlas Packaging
Shenzhen Bon Voyage Display Products Co., Ltd.
Arno Gmbh
Foshan Kai Shine Loong Display Rack Co., Ltd.
Zhongshan Detron Display Products Co., Ltd.

Key Segments Covered

By Materials Type:

Paper
Plastic
Glass
Metal
Other Materials

By Shape:

Square
Rectangular
Customized

By Film Thickness:

Thick
Semi-Thick
Customized

By End Use:

Food & Beverage Sector
Automobile Industry
Personal Care & Cosmetic
Home Care Industry
Hardware Industry
Paint Industry
Furniture Industry
Other Industry

Key Regions Covered:

North America
- United States
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
Japan
Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)

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Life Science Analytics Market Soars with 10.7% CAGR Towards US$ 68.6 Billion by 2032

The global life science analytics market is anticipated to rise from US$ 24.8 billion in 2022 to US$ 68.6 billion by 2032, expanding at a compound yearly growth rate of 10.7%. The R&D and business sectors are expected to undergo a significant transformation as a result of the adoption of artificial intelligence in healthcare over the next few decades.

Life science organizations are under pressure to cut medical expenses, boost productivity, and implement analytics solutions in clinical trials and drug development as they adopt sophisticated analytics techniques.

With life science, AI can be trained to differentiate cancer cells in the lab, analyze complex genomic datasets, and identify patterns in medical images, like X-rays. In addition, analytics can also identify unexpected or novel patterns and predict treatment responses by analyzing consumer, treatment, diagnostic, and lab data stored in natural language.

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Companies in the life sciences are finding it increasingly difficult to handle exponentially growing data volumes. Algorithms that use machine learning might be able to help analyze data and decide which parts of it are relevant, allowing huge amounts of data to be analyzed for insights. Moreover, AI can be used in repurposing drugs and developing new drugs, as well as in diagnosing diseases more swiftly providing more efficient treatments, as well as identifying hypotheses based on data.

Key Takeaways from the Life Science Analytics Market Report:

Life science analytics experienced a growth rate worth 11.8% between 2016 and 2021
The global life science analytics market is valued at US$ 39.9 Billion in 2026, during the forecast period.
Software components in the life science analytics segment to expand at a CAGR of 10.1% during the forecast period
In the U.S., the market is predicted to reach US$ 27.5 Billion while growing at a CAGR of 10.7% during the forecast period.
Life science analytics applications in research and development are expected to grow at a CAGR of 11.8% during the forecast period.
China’s market is expected to reach a market value of US$ 6.3 Billion with a CAGR of 18.6% during the forecast period.

Competitive Landscape:

Are among companies that offer products and technologies that will allow customers to take advantage of new technologies.

In March 2022, EQT closed the acquisition of LSP and launched EQT Life Sciences. As announced on 10 November 2021, EQT AB completed the acquisition of LSP after signing a definitive agreement on 28 February 2022. EQT has issued 7,548,384 shares to LSP’s selling shareholders, representing a dilution of approximately 0.8 percent, as part of the total consideration of EUR 475 million. Following the completion of the Transaction, EQT will have 993,828,524 ordinary shares issued and outstanding.
For US$ 2.2 billion, TPG Capital will purchase ClaimsXten, Change Healthcare’s claims editorial service, from UnitedHealth in April 2022. To proceed with ClaimsXten’s sale, UnitedHealth will have to acquire Change Healthcare first. The deal has been put on hold after the U.S. Department of Justice filed a lawsuit. Reports indicated that UnitedHealth hoped to acquire Change Healthcare for US$ 8 billion through the sale of ClaimsXten.

Leading Key Players:

Accenture Plc.
Cognizant Technology Solutions Corporation
IBM Corporation
MaxisIT, Inc.
Oracle Corporation
IQVIA (Quintiles, Inc.)
SAS Institute Inc.
Scio Health Analytics
Take Solutions, Inc.
Wipro Limited
SAP SE

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Life Science Analytics Market Segmentation:

By Component:

Software
- On-premise
- On-demand
Services
- Professional
- Managed

By Application:

Clinical and Preclinical Trials
Regulatory Compliance
Research and Development
Sales and Marketing
Supply Chain Management

By Type:

Descriptive
Predictive
Prescriptive

By End-Use Application:

Biomedical Companies
Laboratory and Pharmaceuticals
Medical Device Companies

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
South America

Authored By:

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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Procurement Analytics Market Forecasted to Skyrocket, Projected to Hit US$ 24.8 Billion by 2032 at an Impressive 22.5% CAGR

The procurement analytics market is expected to develop at a CAGR of 22.5% from 2022 to 2032, with revenues estimated at US$ 2.6 Billion in 2021. The market is estimated to be worth US$ 24.8 billion by the end of 2032. As SMEs’ revenue has increased, they have begun to invest in technology to optimise their supply chain and reduce operational expenses.

The World Bank estimates that SMEs make up about 90% of all enterprises and more than half of all jobs worldwide. Up to 40% of the national income in emerging economies comes from formal SMEs. With a persistent focus on dashboards, reporting, and advanced visualisation, SMEs have prioritised big data, governance, and data catalogues.

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Procurement Analytics assists SMEs in automating their processes by saving time and money while enhancing productivity and efficiency. It also focuses on core activities rather than regular business tasks, allowing it to focus on what matters most. It also aids in client communication and the creation of a digital presence, which helps SMEs differentiate themselves from their competition at a low cost.

Key Takeaways from the Market Study

Global Procurement Analytics Market is expected to reach a valuation of US$ 3.3 Billion by 2022.
The Supply Chain Analytics segment is expected to account for the highest CAGR rate of 22.1% during the forecast period.
United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 7.6 Bn during 2022 – 2032.
The market in the US is set to experience the highest CAGR of 22.3% during 2022-2032.

Competitive Landscape:

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Procurement Analytics Market are focused on R&D to produce innovative technological solutions.

In April 2022, Kraft Heinz Business and Microsoft Corp. established a partnership to create solutions to help consumer products be more robust in their supply chain. The endeavour is a key driver of Kraft Heinz’s ambitious AGILE SCALE strategy, and it is one of the company’s largest technology investments at present.
In March 2022, HSBC and IBM announced today that they will collaborate to investigate quantum computing applications in financial services. The new three-year agreement seeks to boost HSBC’s quantum computing skills and ensure the bank’s preparedness to fully implement the technology.

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Procurement Analytics Market Segmentation:

By Component:

Solutions
Services

By Application:

Supply Chain Analytics
Risk Analytics
Spend Analytics
Demand Forecasting
Contract Management

By Deployment Mode:

Cloud based Procurement Analytics Solutions
On-premises Procurement Analytics Solutions

By Organization Size:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

By Industry Vertical:

BFSI
Retail and e-Commerce
Telecom and IT
Manufacturing
Healthcare and Life Sciences
Energy and Utilities
Government and defence

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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About Future Market Insights (FMI):

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

Contact Us:

Nandini Singh Sawlani