Market Research Blog – Page 3885 – New Product Development

AIOps Platform Market: Anticipated to Attain Remarkable Growth, Targeting US$ 80.2 Billion by 2032

The AIOps platform market is projected to expand significantly, with an estimated value of US$ 80.2 billion by the year 2032. This growth is expected to occur at an average annual rate of approximately 25.4% from 2022 to 2032. In simpler terms, businesses and organizations are increasingly adopting AIOps platforms to improve their operations, and this market is set to experience substantial growth over the next decade.

In recent times, AIOps platforms have become increasingly popular. Over the past year, many businesses have been using these platforms to improve various aspects of their IT operations management.

Across all industries, there’s a strong emphasis on enhancing digital capabilities, fostering collaboration, and increasing agility within companies. This means that enterprise IT operations and IT service management need to evolve to keep up with the demands of digital transformation and gain a competitive advantage.

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AIOps, which stands for Artificial Intelligence for IT Operations, is like the next step in improving how we manage IT systems. It uses smart computer programs to help IT teams work better. These programs use things like artificial intelligence, big data analysis, and machine learning to do several important things:

Spotting Problems Early: AIOps helps find issues in the IT system before they become big problems.
Predicting Future Issues: It can even predict problems that might happen in the future, so you can fix them before they happen.
Cutting Through the Noise: AIOps can sort through a lot of information and quickly figure out where a problem is coming from.
Understanding the Impact: It can tell you how a problem might affect your IT system and your business.
Suggesting Solutions: AIOps can recommend what you should do to fix the problem, and in some cases, it can even do those fixes automatically.

Key Takeaways from AIOps Platform Market Report:

By solution, the AIOps platform segment accounts for the highest market share of around 61.2% for AIOps platform market in the year 2021. However, the services segment is estimated to grow at a robust CAGR of 26.2% through 2032.
By application, the real-time analytics segment had the highest market share of around 39.9% in the AIOps platform market in 2021.
By vertical, the IT & telecom is predicted to grow at a CAGR of around 28.5% between 2022 & 2032.
By region, North America had the largest market share of around 35.6% in AIOps platform market in 2021, whereas the South Asia & Pacific region is showing the highest growth of around 29.6% CAGR during the forecast period.

More Valuable Insights on AIOps Platform Market:

Future Market Insight’s report on AIOps platform market industry research is segmented into four major sections – solution (AIOps platform, and services (implementation services, license & maintenance services, training & education services, others), application (real-time analytics, application performance management, infrastructure management, others), vertical (BFSI, healthcare & life sciences, retail & consumer goods, IT & telecom and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and The Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the AIOps platform demand outlook.

Leading Key Players in the AIOps Platform Market:

Moogsoft
IBM
Micro Focus
Vmware
HCL Technologies Limited
BMC Software
Broadcom
ProphetStor Data Services, Inc.
Splunk Inc.
Dynatrace
CA Technologies
Big Panda Inc

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AIOps Platform Market Segmentation:

By Solution:

AIOps Platform
Services
- Implementation Services
- License & Maintenance Services
- Training & Education Services
- Others

By Application:

Real-Time Analytics
Application Performance Management
Infrastructure Management
Others

By Vertical:

BFSI
Healthcare & Life Sciences
Retail & Consumer Goods
IT & Telecom
Others

By Region:

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

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Seismic Survey Equipment Market Surges with a 3.8% CAGR, Anticipates Valuation of US$ 2.2 Billion by 2032

The global seismic survey equipment market is expected to generate US$1.6 billion in sales by 2022. The market is anticipated to reach a valuation of US$ 2.2 Billion by the end of the forecast period, with 3.8% predicted growth between 2022 and 2032. The Seismic Survey Equipment Market’s top revenue-generating segment, hardware, is anticipated to expand at a CAGR of more than 3.9% between 2022 and 2032.

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From 2018 to 2021, the seismic survey equipment market will be worth $. Comparatively speaking to the Demand Forecast for 2022 to 2032

A provider of market research and competitive data, Future Market Insights estimates that the Seismic Survey Equipment Market’s historical growth rate between 2018 and 2021 was around 4.3%. By 2032, the market is projected to be valued at US$ 2.3 billion, with an absolute dollar potential of US$ 702 million.

The primary revenue drivers that affect the market for seismic survey equipment are rising risk management investments and the need for modern land survey equipment.

Due to the advantages of using computerized devices when conducting land surveys, the market is anticipated to expand.

Which nation commands the largest share of the seismic survey equipment market in terms of revenue?

By the end of 2032, the United States is anticipated to have the largest market, worth US$ 393.8 Million. It is anticipated to grow in value by an absolute amount of US$141.4 million. The presence of multinational corporations like Geostuff, Baker Hughes, Throop Rock Bit, Geospace Technologies, Ion Geophysical, and Wireless Seismic, Inc. in the nation also contributes to the market size of the nation.

Competitive Analysis:

Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the Seismic Survey Equipment market are focused on their alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their Seismic Survey Equipment market share.

Some of the recent developments in the Seismic Survey Equipment market are:

In July 2022, Geospace Technologies Corporation announced a long-term rental deal with SAExploration, a key supplier of maritime geophysical services. The OBX-750E seabed ocean bottom wireless seismic data collection nodes will be rented by SAExploration. Based on the terms of the existing contract, the value of the agreement is estimated to be US$ 12 Million.
In February 2022, in the Asia-Pacific region, an Ocean Bed Nodes (OBN) resource contract with an anticipated length of around 5 months had approved, according to a statement from SeaBird Exploration. The company intends to use the Voyager Explorer on the contract, which would prolong the charter of the unmanned vessel, and the contract is scheduled to begin in April 2020.

In September 2020, Trimble unveiled the new and improved R12i GNSS receiver, which will enable users to complete tasks more quickly and precisely.

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Seismic Survey Equipment Market Segmentation:

By Component:

Hardware
Software
Services

By Technology:

By Location:

Onshore
Offshore

By Industry:

Oil & Gas
Others

By Region:

North America
Latin America
Europe
APAC
MEA

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NFT Analytics Tools Market Soars: Anticipated US$ 506.2 Million Revenue and Impressive 13.7% CAGR by 2032

The NFT analytics tools market is expected to experience significant growth, with a projected value of US$ 506.2 million by 2032, at an impressive CAGR of 13.7%. This indicates a promising future for tools and services related to Non-Fungible Tokens (NFTs) analysis and management.

By 2022, the USA is projected to lead North America’s Non-Fungible Tokens (NFT) Analytics Tools Market with 24.6% market share – a potential opportunity for further growth and development in this space. South Asia & Pacific NFT Analytics Tools Market is projected to register strong growth in the market, exhibiting a CAGR of nearly 18.0% during the forecast period

NFTs can help businesses in a variety of industries with their operations since, at their heart, they have ownership and provenance proof. By offering commercial rights to NFT owners for assets, collections also have access to a powerful branding strategy that supports their public image.

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Many people around the world have discovered ways to make money online using digital platforms. Some of them are now interested in a new trend called NFTs, which can also be a way to earn money on the internet. Before they decide to invest their money and take a risk in this NFT world, many investors want to do their homework. They want to look at things like the past and current trends in the NFT market, the history of sales, how many NFTs are being traded, how much people are willing to pay for them, what’s popular in the NFT community, and many other factors.

Because so many NFT investors are eager for this information, there’s a growing demand for tools that can help analyze the NFT market. These tools are becoming more popular all around the world.

The market for tools that help analyze Non-Fungible Tokens (NFTs) in the South Asia Pacific region is poised for rapid growth. Over the forecast period, this market is anticipated to expand at an impressive annual rate of 18.0%. This growth is primarily attributed to the rising investments in and adoption of NFTs in countries such as Thailand, India, and Indonesia. These developments are opening up exciting opportunities for companies in the NFT analytics tool industry.

Why is the Demand for NFT Analytics tools increasing?

NFT trading is a growing exponent as it has become highly popular with the introduction of NFT platforms. The procedure for buying NFTs has also become easier, resulting in higher adoption of NFTs by general consumers. With cryptocurrency exchanges increasingly allowing NFTs, the number of users purchasing and trading is expected to increase.

NFT transactions are associated with significant and hidden gas charges that most first-time users are unaware of, which creates a restrain for the market. But, with the help of NFT analytics tools, the user can gather or collect information about hidden gas fees which helps them to save their money. Due to such factors, the demand is NFT analytics tools is increasing during the forecast period.

Key Takeaways from Non-Fungible Tokens (NFT) Analytics Tools Market Report:

By Tool Type, the Mobile NFT Analytics Tool segment is growing dominantly with a CAGR of around 16.4% between 2022 & 2032.
By End User, the Individual Users is growing dominantly with a CAGR of around 12.7% between 2022 & 2032.
By Region, the North American Non-Fungible Tokens (NFT) analytics tools market in 2021 was holding the highest market share of around 35.2%, whereas the East Asia region is estimated to grow at a CAGR of around 12.1% in the forecast period.

Key Players in the NFT Analytics Tools Market:

Dune
NFT OnChained
Alchemy NFTS
Nansen
UXCam
Metawin
Rainbow Wallet
OpenSea
Trait Sniper
BitDegree
NFT Evening
Singular
NFT Terminal
Quicknode

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NFT Analytics Tools Market Segmentation:

By Tool Type:

Web-based NFT Analytics Tool
Mobile-based NFT Analytics Tool

By End User:

Individual Users
Commercial/Business Users

By Region:

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

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Cloud OSS BSS Market Soars to New Heights, Projected to Reach a Staggering US$ 60.0 Billion by 2032 with an Outstanding 8.4% CAGR

The cloud OSS BSS market revenues were estimated at US$ 24 Billion in 2021 and are anticipated to grow at a CAGR of 8.4% from 2022 to 2032, according to a recently published Future Market Insights report. The market is expected to reach a valuation of US$ 26.7 Billion in 2022 and US$ 60 Billion by the end of 2032. As more suppliers concentrate their investments on accelerating digital transformation, demand for Cloud OSS BSS is increasing.

For instance, in May 2021, EY and IBM announced the establishment of a Center of Excellence to aid financial institutions in accelerating their digital transformation through the use of hybrid cloud technologies. To assist clients in using the cloud at scale, the Center of Excellence is an integrated virtual center that provides services in digital trust, security, and regulatory compliance.

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The technology helps telecom network back-office activities while retaining customer service. Information processing systems are frequently used by operators to manage their communications networks. It supports operators in the creation, edification, and maintenance of communication networks.

Modern OSS and BSS may assist businesses in anticipating market trends, enhancing customer happiness, boosting operational effectiveness, and gaining market and operational insights from big data.

The impact of Covid-19 on the Cloud OSS BSS Market:

Significant adjustments have been made to people’s routines, workplaces, and surroundings as a result of the COVID-19 outbreak. This is because operators can deal with the bandwidth issues brought upon by the pandemic with these technologies. In addition, consumers will expect consistent bandwidth as regulations supporting remote work, video conferencing, and distance learning become increasingly common.

By the beginning of May 2020, AT&T forecasts a 75% increase in gaming traffic, a significant increase in call volume, and a 33% increase in call time. As a result, telecom operators are updating their OSS BSS systems to keep up with the evolving needs of their customers. The outbreak will probably present the OSS & BSS sector with alluring opportunities.

For instance, MATRIXX Software declared in June 2020 that AT&T Mexico, an AT&T subsidiary, would introduce the cloud-native digital commerce platform of MATRIXX Software for its prepaid customers. In order to deliver a web-scale BSS that will increase business agility and innovation, MATRIXX Digital Commerce has replaced various legacy Corporate Support Systems as well as the Intelligent Network.

Competitive Landscape:

Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the Cloud OSS BSS market are focused on alliances, technology collaborations, and product launch strategies.

Some of the recent developments of key Cloud OSS BSS providers are as follows:

In November 2021, Vonage Holdings, a provider of cloud-based communications agreed to be acquired by Ericsson. In order to provide the framework for the establishment of industry business, the organization sought to create dominant mobile networks through technological leadership. In terms of providing consumers with a platform to monetize network investments, Vonage is also the most current innovation, assisting businesses and developers.
In June 2021, CES 21, Amdocs announced that the latest edition of its cloud-based OSS-BSS integrated suite, has been released. It will help service providers to build, deploy, and monetize novel services by leveraging investments in technologies such as 5G standalone networks, AI, MEC, SDN, ML, and the cloud.

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More Insights Available:

Future Market Insights, in its new offering, presents an unbiased analysis of the Cloud OSS BSS Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Cloud OSS BSS in terms of Component (Solution (OSS, BSS) Services (Professional Services, Managed Services) Cloud Type (Public Cloud, Private Cloud, Hybrid Cloud) Operator Type (Mobile Operator, Fixed Operator) Organization Size (Large enterprises, SMEs) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Cloud OSS BSS Market Segmentation:

By Component:

Solution
- OSS
- BSS
Services
- Professional Services
- Managed Services

By Cloud Type:

Public Cloud
Private Cloud
Hybrid Cloud

By Operator Type:

Mobile Operator
Fixed Operator

By Organization Size:

Large enterprises
SMEs

By End Use:

IT & Telecommunication
BFSI
Healthcare & Life Sciences
Consumer Goods & Retail
Manufacturing
Others

By Region:

North America
Latin America
Europe
APAC
MEA

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Crypto Tax Software Market Soars with a Remarkable 12.7% CAGR Growth, Projected to Reach US$ 492.2 Million by 2032

The crypto tax software market is poised for significant growth, with a projected annual increase of 12.7%. By the year 2032, it’s anticipated to reach a substantial value of US$ 492.2 million. This suggests a rising demand for software solutions that help individuals and businesses navigate the complexities of cryptocurrency taxation.

Crypto tax software could be referred to as a platform for financial reporting and enterprise-grade crypto accounting. Its basic functionality includes simplifying essential accounting and various back-office tasks like importing cryptocurrency activities. It needs to be noted that almost 10% of the cryptocurrency market is dominated by the crypto tax software market.

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Crypto tax software could be effectively used for preparing taxes for cryptocurrency assets. They could actually make use of crypto tax software for assessing the crypto trading losses and profits and also cost deductions. This software features a 100% cryptocurrency portfolio tracker as well as an analysis tool for providing users with the gist of cryptocurrency holdings through several wallets and exchanges.

NFTs and ETFs (Exchange Traded Funds) are the two cutting-edge products being put forth by numerous players and are expected to revolutionize the BFSI vertical. There are regions like El Salvador, Iran, and Venezuela, that are adversely affected by the protracted crises with growing inflation. The outcome is that the residents herein are switching to cryptocurrencies as value storage and also a medium of exchange for essential things. These factors are expected to come through as a blessing in disguise for the crypto tax software market in the near future.

At the same time, let the fact that robust governing, operational, and risk practices aren’t standardized as yet. As such, various interruptions have taken place during market instability regarding cryptocurrency exchanges. Hacking has also resulted in money getting stolen. These factors could restrain the crypto tax software market in the near future. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Crypto Tax Software Market’. It has its team of analysts and consultants to perform the same.

Key Takeaways from the Crypto Tax Software Market Report:

North America and Europe are going steady with crypto tax software and the scenario is expected to persist even going forward.
The Asia-Pacific is the region subject to a topsy-turvy situation herein. This is basically due to the growing demand for cryptocurrency, especially from South Asia. This region is expected to witness a CAGR of 17% between 2022 and 2032. However, in countries like Indonesia and India, the proliferation of cryptocurrency is a bit difficult as there is a dearth of universal standards and regulations for exchange platforms. Digital money is also at an evolving stage.

Leading Key Players in the Crypto Tax Software Market:

Blockpit
Zenledger
Taxbit
BearTax
Accointing
TokenTax
Coinpanda
CoinTracker
TurboTax
CoinLedger
Koinly
CoinTracking

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Crypto Tax Software Market Segmentation:

By Deployment:

Cloud-Based Crypto Tax Software
On-Premise Crypto Tax Software

By End User:

Personal
Business
- SMEs
- Large Enterprises

By Region:

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

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Lead Management Market Soars Ahead, Envisions a Striking US$ 12,342 Million Valuation by 2032, Driven by a Robust 17% CAGR

The lead management market is projected to achieve a market value of approximately US$ 12,342 million by the year 2032, with a Compound Annual Growth Rate (CAGR) of 17%. In the year 2022, it is anticipated to reach a market value of US$ 2,558.2 million.

The popularity of social interactions, cloud-based business solutions, widespread adoption of the software by financial institutions, and the advantages of collaborative approaches are driving the market for lead management. From 2016-2021, the market displayed a growth rate of 15.2%.

Lead management, also known as lead generation, is the practice of generating and qualifying new potential business prospects, both from a business-to-business perspective and from a direct-to-consumer perspective. The management of leads is usually accomplished through marketing campaigns and programs.

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A lead management team is responsible for maintaining a business relationship between the advertising it sends to consumers and the activity that occurs as a result of those ads. In order to build a closed-loop sales and marketing process, lead management integrates CRM business processes and technology in order to develop higher-value sales and marketing opportunities.

In order to enhance the profitability of a business, lead management entails acquiring new clients, maintaining brand identity in the market, and selling to current clients. Managing leads is a complex process that entails handling a variety of different kinds of leads, including aged leads, web leads, event and purchased leads, and trigger leads.

As part of lead management, companies may offer services such as lead nurturing, lead scoring, campaign management, or e-mail marketing. Nowadays, lead management processes are becoming increasingly technology-centric and rely more on automation systems to replace manual ones. As a result, the lead management market is expected to grow significantly over the forecast period.

As new industries or businesses are being established around the world, and large global companies are being acquired, the demand for lead management is expected to grow rapidly in the near future. Additionally, the demand for lead management is anticipated to increase with the increased adoption of lead management by small and medium-sized businesses (SMBs) in the market.

Marketing and sales teams are increasingly collaborating, which drives the demand for lead management in the market. Furthermore, incorporating conversational artificial intelligence into lead management software enhances the ability of marketers to automate lead nurturing and lead enrichment activities. Further, it reduces sales costs, makes it easier for businesses to reach more people, as well as helps sales teams focus their efforts on the best leads to generate sales in the market. In the near future, Chabot will become an integral part of customer interaction, driving the growth of the lead management software sector in the market.

One of the keys to success for many businesses over the long term is the implementation of an effective and efficient sales pipeline. Modern tools offer powerful lead management solutions to help sales managers make the most of their existing prospects and new leads. Lead management tools that automate the process of monitoring prospect behavior can help companies increase revenue by engaging in timely, individual interactions with prospects. By removing duplicates and merging customer data from disparate sources, automation enhances the quality of customer data.

Lead management markets are having difficulty convincing channel partners of fair lead distribution systems. The process of following up with leads is difficult because it’s challenging to get their attention, and thus losing out on potential sales opportunities in the market. Reporting problems, such as multi-line partners selling their products at a lower rate than their competitors, will hinder the growth of the market.

Additionally, channel managers need to be convinced to avoid manually revising leads before they are allotted, which is yet another factor that will hinder the market from expanding. It is expected that the global lead management market will be restrained by strategies that include complex combinations of direct sales offices and resellers in the market.

However, leading management software can be very expensive to implement, which may lead to a decline in market growth. Using an outdated lead management system or a manual system can lead to losing sales opportunities as the number of leads grows. The most common cause is the failure to complete tasks or the failure to address them properly for a period of time. These factors are all set to hinder the growth of the market in the coming years.

Leading Key Players:

Salesforce
Oracle
SAP
IBM
Microsoft
Siebel CRM Systems, Inc.
MarketNet
Vovici-Verint
Pipedrive
Inside Sales Box
Drishti
Sales Optimize
ProsperWorks
Zoho
Nutshell
Marketo
Hubspot
DemandGen International, Inc.
VanillaSoft
NAVIS

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Lead Management Market Segmentation:

By Technology:

Batch Imports-based
Electronic Data Transfer-based
Quick Apply Web Forms-based

By Service:

Major Accounts
Round Robin
Geographical
Historical Match
Proximity/Radius

By Deployment:

Cloud-Based
Web-Based

By End User:

Healthcare
Financial Services Sector
Professional Services Sector
Sports & Entertainment
Non-Profit Organizations
Education Sector
Hospitality, Travel & Tourism

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

USA and Canada Packer Bottle Market Projected US$ 1.82 Billion by 2033

Growing adoption of packer bottles across pharmaceutical, food & beverage, and chemical industries is driving the global market forward.

The USA and Canada Packer Bottle Market valuation will reach around US$ 1.13 billion in 2023. Overall sales of packer bottles in the country are set to rise at 4.7% CAGR from 2023 to 2033. By the end of 2033, the USA market will cross US$ 1.82 billion market.

HDPE packer bottles offer sturdy protection even in freezing temperatures. Hence, they are preferred by manufacturers and end users as a viable commercial usage option. This plays a huge role in boosting the USA and Canada Packer Bottle Market.

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Key characteristics and uses associated with packer bottles in packaging:

Material: Packer bottles can be made from different materials, including glass and plastic. The choice of material depends on the specific requirements of the product being packaged.
Color: Packer bottles often come in amber or other dark colors, especially in pharmaceutical and chemical applications. The color helps protect the contents from light, which can be particularly important for substances that may be sensitive to light and degradation.
Design: These bottles typically have a sturdy and simple design, making them suitable for storing liquids, powders, or solid products. The design may include features such as a neck finish compatible with various closures.
Closure Compatibility: Packer bottles are designed to work with specific types of closures, such as screw caps or other sealing mechanisms. This ensures proper containment of the contents and helps maintain product integrity.

Key Takeaways from USA and Canada Packer Bottle Market

Based on material, plastic packer bottle segment held around 70% of the market share at the end of 2022.
By end use, pharmaceuticals segment will hold over 4/5 th share of the market in 2023.
By application, tablet & capsules segment is likely to generate significant revenues for the market.
The United States packer bottle market size will reach around US$ 1.13 billion in 2023.
Packer bottle sales in Canada are forecast to surge at 5.8% CAGR during the forecast period.

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Major Players

Amcor Plc
Berry Global Group Inc.
Gerresheimer AG
Comar LLC
O.Berk Company, LLC
CL Smith
Aaron Packaging, Inc.
Clarke Container Inc.
Alpha Packaging
Pretium Packaging
Parkway Plastics Inc.
The Cary Company
FH Packaging
DWK Life Sciences
Silver Spur Corporation
ProSHAKE
Graham Packaging Company
ALWSCI Technologies

Market Segmentation

By Material Type:

Plastic
- High-density Polyethylene (HDPE)
- Polyethylene terephthalate (PET)
- Polycarbonate (PC)
- Others (PVC, PS, etc.)

Glass

By Capacity:

100cc & Below
200cc
300cc
400cc

By Application:

Tablet & Capsules
Powder & Granules
Liquid Protectors

By End Use:

Pharmaceuticals
Chemicals
Food & Beverages Ingredients
Other Industrial

IT Service Management Tools Market Soars to Projected US$ 34,512 Million by 2032 with a Remarkable 15.2% CAGR Growth

The IT service management tools market is anticipated to reach US$ 34,512 Million in 2032, growing at a CAGR of 15.2%. In 2022, the market is anticipated to be worth US$8,378 Million. The market for ITSM tools is expanding as a result of rising cost-saving demands, a mobile workforce, privacy concerns, and cloud-based software services.

IT can function to its fullest capacity when it is set up and maintained in a manner that is appropriate for the demands of the business it serves. IT service management systems provide services that enable the IT support team to quickly address issues and difficulties to boost business user satisfaction while spending less money.

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Delivering tools for IT service management involves using people, processes, and technologies. The management tools of the IT environment require good connections and IT services to support evolving technologies. Digital services and solutions are used to deliver the dynamic and developing IT service management system, which includes mobility, the cloud, the Internet of Things, and others.

IT Service Management Tools: Drivers and Challenges

Drivers

The emerging technologies in the IT field are the primary growth drivers of the IT Service Management market. Also, the Increasing requirement of Industries for remote solutions that can be accessed from anywhere is playing an important role in fueling the IT Service Management tools market. Moreover, the rising demand for cost-effective & flexible solutions for better consumer satisfaction will have a positive impact on the IT Service Management Tools market.

The increasing preference for easy deployment and agile implementation is also driving the growth of the IT Service Management tools market. IT Service Management tools are brought into the company to increase the effectiveness and efficiency of the operations and ultimately due to this factor, the demand for IT Service Management Tools is increasing.

Challenges:

The major challenge for IT Service management is the lack of quality standards in SLA (Service level agreement). Also, certain security and privacy issues associated with the technologies and the rising need for high network bandwidth are some challenges in the IT service management tools market.

IT Service Management Tools: Market Leaders

The Prominent players in IT Service Management are BMC Software, Inc., CA Technologies, EMC Corporation, Altiris, Axios Systems PLC, IBM Corporation, Hewlett Packard Enterprise Company, Cherwell Software, LLC,, Citrix Systems Inc., Heat Software USA Inc., Service-now.com, Hornbill Corporate Limited, and others.

IT Service Management Tools: Regional Overview

On a geographic basis, North America will be the largest market for IT service management market due to the rapid adoption of BYOD policies. The APAC market will be the fastest-growing IT service management tools market. Countries like China, India, Japan, and South Korea are witnessing high investor interest in IT and IT service management.

Also, the rise in the number of internet users in APAC and technologies like 4G LTE are fueling the growth in this region. Latin America offers potential growth opportunities in the IT Service Management tools market due to the rise in technologies and organization that offers better customer experience.

Leading Key Players:

BMC Software, Inc.
CA Technologies
EMC Corporation
Altiris
Axios Systems PLC
IBM Corporation
Hewlett Packard Enterprise Company
Cherwell Software, LLC.
Citrix Systems Inc.
Heat Software USA Inc.
Service-now.com
Hornbill Corporate Limited

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Key Segments Profiled in the Global IT Service Management Tools Market

By Application:

Availability and Performance Management
Network Management
Application Performance Management
Configuration Management
DBMS
Others

By Services:

Professional Services
Managed Services

By Vertical:

Banking, Financial Services, and Insurance (BFSI)
Government and Public Sector
Healthcare and Life Sciences
Manufacturing
Retail and Consumer Packaged Goods
Energy and Utilities
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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The Path to Zero Waste: Strategies for Sustainable Packaging

One of the major drivers of the sustainable packaging industry is the growing consumer preference for environmentally sustainable packaging solutions. Consumers are increasingly aware of the environmental impact of packaging materials and are demanding sustainable alternatives. This has led to an increase in the adoption of biodegradable, compostable, and recyclable packaging solutions. Additionally, government regulations aimed at reducing carbon emissions and promoting sustainable packaging practices are further propelling the market growth.

The sustainable packaging sector is poised for substantial growth, with projections indicating a value of US$ 285.3 billion by 2024. Fuelled by a growing demand for eco-friendly solutions, the sustainable packaging market is expected to experience a robust Compound Annual Growth Rate (CAGR) of 5.8% in the foreseeable future. Forecasts suggest that this momentum will persist, propelling the market beyond US$ 490.5 billion by 2034. This trajectory presents a lucrative opportunity for enterprises operating within the packaging industry to capitalize on the burgeoning demand for sustainable packaging solutions.

Opportunities in the sustainable packaging market include the development of innovative and cost-effective packaging solutions that meet environmental standards. The demand for sustainable packaging solutions in emerging markets, such as Asia-Pacific, presents a significant growth opportunity for manufacturers. Furthermore, the increasing trend towards e-commerce is creating new opportunities for sustainable packaging solutions, as companies are looking for ways to reduce their environmental footprint and meet the demands of environmentally conscious consumers.

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Key aspects and considerations associated with sustainable packaging:

Material Selection: Sustainable packaging emphasizes the use of eco-friendly materials such as recycled content, biodegradable materials, and renewable resources. This helps reduce the demand for virgin materials and minimizes the environmental impact associated with extraction and processing.
Recyclability: Packaging that is easily recyclable encourages the recovery of materials for reuse in the manufacturing process. Clear labeling indicating recyclability and proper disposal instructions helps consumers make environmentally conscious choices.
Biodegradability: Some sustainable packaging materials are designed to break down naturally over time, reducing the impact of packaging waste on the environment. Biodegradable materials can decompose into natural elements without leaving harmful residues.
Reduced Packaging Waste: Sustainable packaging aims to minimize excess packaging and use materials efficiently. Designing packaging that is lightweight and compact helps reduce overall waste and transportation-related emissions.

Key Takeaways from the Sustainable Packaging Market:

Paper and paperboard have emerged as the dominating segment, accounting for nearly 37% of the market in 2023.
Bags & sacks are predicted to dominate the sustainable packaging industry in 2023, with a market share of approximately 25%.
Manufacturers’ (sales) distribution channels are expected to have a 55% market share in the sustainable packaging industry by 2023.
In 2023, the food and beverage industry is predicted to have a 45% market share in the sustainable packaging industry.
The sustainable packaging industry in North America is estimated to account for 25.7% of the market by 2023.
In 2023, the East Asian sustainable packaging industry is estimated to account for 18.5% of the total.
In 2023, the South Asia & Pacific sustainable packaging industry is estimated to account for 12.6% of the total.
In 2023, the sustainable packaging industry in Western Europe is estimated to account for 16.4% of the total.

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Market Key Players

Amcor Plc
Stora Enso Oyj.
Berry Global Inc.
Huhtamaki Oyj.
WestRock LLC
DS Smith Plc
The Mondi Group plc
International Paper Company
Detmold Group
Sealed Air Corporation
Dart Container Corporation
Duni AB
Vegware Ltd.
Pactiv LLC

Key Segments

By Material Type:

Paper & Paperboard
- Coated Unbleached
- Bleached Paperboard
- Molded Fiber Pulp
- Kraft Paper
- Corrugated Board/Boxboard
Plastic
- Poly Lactic Acid (PLA)
- Polybutylene Succinate (PBS)
- Polyhydroxyalkanoates (PHAs)
- Starch based Plastics
- Others (PVA, PVOH, PBAT, etc.)
Metal
- Steel
- Aluminium
Glass
Fabric
Wood

By Packaging Type:

Bags & Sacks
Trays & Clamshells
Cartons & Boxes
Cans
Bottles & Jars
Films & Wraps
Pouches & Sachets
Drums
IBC
Vials & Ampoules
Tapes & Labels
Others (Jerry Cans, Bowls, Cutlery, etc.)

By Distribution Channel:

Manufacturer (Direct Sales)
Distributors
Retailers

By End Use:

Food
- Bakery & Confectionery
- Dairy
- Fresh Produce
- Snack Food
- Other Processed Food
Beverages
- Non-alcoholic
- Alcoholic
Cosmetics & Personal Care
Chemical
Healthcare
Agriculture
Other Industrial

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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.

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Industrial Coupling Market Soars with a Projected CAGR of 11.0% from 2022 to 2032, According to FMI Report

The market for industrial couplings worldwide is anticipated to reach US$ 242.6 million in 2022, according to Future Market Insights’ report. Due to the major objective of an industrial coupling being to transmit rotational motion from one shaft to another shaft with the highest efficiency, the market is predicted to reach US$ 689.3 million by 2032, expanding at a CAGR of 11.0% during the forecast period (2022-2032).

Industrial couplings are used to connect the rotating parts of a machine in the industry. A coupling is used to connect the drive shaft of a power source to a shaft on a driven machinery or a piece of driven machinery. The drive shaft of a power source can be an electric motor or a diesel engine, and the shaft on a piece of driven machinery can be a pump or an electric generator.

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The driving purpose of an industrial coupling is to transfer rotational motion at maximum efficiency from one shaft to another shaft. Industrial couplings are also used to perform different additional functions like providing various ways as a means for disconnecting the driver engine or motor from the driven equipment or a pump.

The Industrial couplings and shafts are made correctly aligned which helps to ensure the functions of equipment correctly. If the shafts are not made to align properly, the equipment may fail to work or can damage, and the life of the equipment and its availability will be fully reduced. Industrial couplings are also used to allow relative axial motion at an angle or reduce the vibration transfer from one machine component to another or fully eliminate it and allow small amounts of misalignment in the equipment.

Industrial Couplings Market: Overview

Industrial couplings have a very high demand in the automobile and chemical industry. The automobile industry has numerous equipment’s of the vehicle to be tested and connected with the support of a trough which is performed through Industrial couplings. Moreover, in the chemical industry where different processes such as mixture, lime filtering, etc. are done and the fluid is to be shifted from one vessel to another passing through various processes and is connected with the support of Industrial couplings.

Also, Industrial couplings have a wide array of industrial applications including the natural gas industry, chemical industry, oil industry, and water treatment companies. Additionally, the market has registered a rise in acceptance for coupling in the gas pipe construction industry.

However, deteriorating exports and increasing cost of labor are major factors accountable for the adaptation of the Industrial couplings market across the globe. Recently, industries are focusing mainly on the enhancement of energy efficiency which leads to high demand for Industrial couplings in the near future.

Furthermore, strategic expansions relating to the coupling market in Nigeria, Indonesia, Mexico, and Turkey are likely to offer significant growth opportunities. However, Industrial coupling product technology has developed, and consequently, customers pursue value additions as a major purchase standard for Industrial co couplings.

Also, the lack of advanced Industrial couplings application potentials of is hampering the Industrial couplings market growth. The coupling industry has observed advancement and innovations in product-based technology. Most industries are developing Industrial couplings that involve less space, and the use of low-weight resources with advanced indolence qualities for manufacturing Industrial couplings.

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Industrial Couplings Market: Key Players

Altra Industrial Motion Corp.
Colossus
Daido Precision Industries Ltd.
Emerson Electric Co.
Dandong Colossus Group Co., Ltd.
John Crane Ltd.
Siemens AG
Baldor Electric
Industrial Clutch Parts Ltd.
KTR Kupplungstechnik GmbH, Chr
Tsubakimoto Chain

The global Industrial couplings market is segmented by type, application, and by geography.

Based on the type, Industrial Couplings Market is segmented into:

Flexible Elastic Coupling
Rigid Coupling
Flange Coupling
Torsionally-Rigid Flexible Coupling

Based on the application, Industrial Couplings Market is segmented into:

Automotive
Medical Equipment
Engine
Aerospace
Others

By Region:

North America
Latin America
Asia Pacific
Europe
MEA

About Future Market Insights (FMI):

Contact Us:

Nandini Singh Sawlani