Market Research Blog – Page 4295 – New Product Development

Ethylene Dichloride Industry Set to Hit US$ 24.0 Billion by 2028 with a 3.7% CAGR

By the end of 2022, the ethylene dichloride industry is expected to be worth US$ 19.2 billion, growing at a moderate 3.7% CAGR between 2022 and 2028. By 2028, the market is anticipated to reach a value of US$ 24.0 billion. The market is expected to grow due to the increased usage of ethylene dichloride in the manufacturing of other chemicals and materials, as well as commercial and consumer goods.

The rising demand for Polyvinyl Chloride (PVC) resins for a variety of applications, including the manufacture of plastics and flooring materials, is a major growth driver for the ethylene dichloride industry. This is because ethylene dichloride is used in the manufacturing of PVC. Furthermore, the rising usage of ethylene dichloride (EDC) as a lead scavenger in gasoline will enhance market demand throughout the forecast period. The oil and gas industry’s strong global growth is projected to encourage manufacturers to focus more on developing refinery capacity, encouraging ethylene dichloride market growth.

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Furthermore, rising demand for pesticides and chlorinated solvents will almost certainly drive market growth. The mining, textile, and chemical sectors, among others, are profiting from macroeconomic and demographic shifts in the ethylene dichloride market. Because it does not accumulate in the aquatic food chain and is non-toxic to aquatic creatures, ethylene dichloride is also considered environmentally friendly. Because of increased environmental consciousness, the market for ethylene dichloride is likely to expand.

Key Takeaways:

North America ethylene dichloride market will account for 36% of the total market share by the end of 2022
Ethylene dichloride market in Europe will hold 21.2% of the total market share in 2022.
Online shopping in the U.K. will indirectly fuel market growth over the forecast period.
India is expected to account for 20.7% of the ethylene dichloride market share in South Asia.
By application, usage of vinyl chloride monomer to make PVC will propel demand for ethylene chloride.
On the basis of production process, oxy chlorination will gain popularity.

Competitive Landscape

Olin Corporation, Occidental Chemical Corporation, Formosa Plastics Corporation, Tosoh Corporation, Vynova Group, SABIC, Westlake Chemical Corporation, Thyssenkrupp AG, PT Asahimas Chemical, Prochem, Inc., VESTOLIT GmbH, Tokyo Chemical Industry Co., Ltd, and others are some of the major organizations in the ethylene dichloride market that are profiled in the full version of the report.

As a highly fragmented global market, ethylene dichloride includes several small and large-scale market players. These organizations are eyeing market possibilities in countries with an abundance of raw materials as well as well-established manufacturing facilities such as countries in East Asia and North America. Market players are focusing on investing in R&D activities as well as on capacity expansion, acquisitions, mergers and product innovation to cater to emerging applications.

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Key Segmentation

Application :

Vinyl Chloride Monomer (VCM)
Ethylene Amines
Other Solvents

Production Process :

Direct Chlorination
Oxy Chlorination

Region :

North America
Latin America
Europe
South Asia
East Asia
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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Future Market Insights Inc.
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11.1% Growth: Proposal Management Software Market Path to US$ 6.7 Billion by 2032

The global proposal management software market is expected to reach US$ 6.7 billion by 2032, rising at a CAGR of 11.1% during the same period, according to Future Market Insights. The market’s expansion can be ascribed to the rising demand for business process automation and the fast digitization of organizations.

Also, the integration of modern technologies such as; AI-based tools is expected to offer remunerative opportunities to the market in the coming time.

In addition, the launch of new products in the market is likely to propel the market expansion in the forecast period. In August 2021, Frequency, a renowned advertising sales automation player and workflow software provider, disclosed the launch of SmartProposals.

A first-of-its-kind technology, SmartProposals applies real-time deal-close and campaign performance data to offer and augment local-market media campaign proposals. It analyzes millions of data points from a significant number of media campaigns to provide abled campaign proposals that strengthen media sellers to produce augmented revenue. Owing to such initiatives, the market is likely to flourish significantly in the forecast period.

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Key Takeaways from the Proposal Management Software Market report:

The software segment to expand at a CAGR of 10.9% by 2032
The on-premises segment to exhibit a CAGR of 10.1% during the forecast period
Market in the U.S to secure a value of US$ 2.3 Billion by 2032
Chinese market to expand at a CAGR of 10.4% during the forecast period
South Korea to record a CAGR of 8.8% by 2032
Market in the U.K. to exhibit a growth rate of 10.1% in the assessment tenure

Competitive Analysis:
Key players in the global proposal management software market are Microsoft, WeSuite, Icertis, Deltek, and GetAccept.

In August 2021, Deltek, an eminent provider of software and solutions for project-based solutions, disclosed that it had secured ArchiSnapper. The initiative would assist architects and engineers to make their business more efficient with better tool management services.
In March 2022, Deltek, a renowned provider of software and solutions for project-based businesses, and Qarbon Aerospace disclosed the accomplishment of enterprise-wide business systems transformation from Qarbon Aerospace’s legacy solution SAP to Deltek Costpoint.

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More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the global proposal management software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of component (software and services), deployment (on-premises and cloud), enterprise size (large enterprises and small and medium-sized enterprises), and vertical (government, retail and e-commerce, healthcare and life sciences, BFSI, transportation and logistics, manufacturing, telecom & IT and other verticals) across five major regions (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)

Key Segments Profiled In The Proposal Management Software Market Report

By Component:

Proposal Management Software
Proposal Management Services

By Deployment:

On-Premises
Cloud-based

By Enterprise Size:

Large Enterprises
Small and Medium-Sized Enterprises

By Vertical:

Government
Retail and E-Commerce
Healthcare and Lifesciences
BFSI
Transportation and Logistics
Manufacturing
Telecom & IT
Other Verticals (Energy and Utilities, Media & Entertainment, and Education)

By Region:

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

About Future Market Insights (FMI):

Contact Us:

Nandini Singh Sawlani

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Graphene Nanocomposites Industry to Hit US$ 2,796.7 Million by 2031 with a Remarkable 32.5% CAGR

In 2021, the graphene nanocomposites industry will be worth US$167.5 Million. Device and semiconductor sales are expected to rise at a 32.5% CAGR, with the market valued at US$ 2,796.7 Million in 2031.

Market expansion is being driven by rising demand for graphene nanocomposites for use in electronics, medicine, water treatment, research, aerospace, polymer composites, and optics. Furthermore, the market will benefit from the growing acceptance of novel approaches to commercializing graphene nanocomposites.

Consumer demand for graphene oxide for a wide range of applications, including cellular imaging, drug administration, and cancer therapy, is creating lucrative growth prospects for graphene nanocomposites market participants.

According to FMI’s geographical study, the United States is expected to dominate the global graphene nanocomposites market. The presence of prominent players such as Angstron Materials, Inc., as well as the country’s position as a leader in medical research and the bio-medical industry, can be credited to growth.

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“Increasing demand for graphene oxide nanocomposites in the paints & coatings industry, along with expansion of the electronics sector in emerging economies will continue pushing sales in the market over the assessment period,” says the FMI analyst.

Key Takeaways:

By product type, sales in the graphene oxide segment are expected to increase at a 31.3% CAGR over the forecast period.
Demand for graphene nanocomposites in the electronics industry is anticipated to create an incremental opportunity of US$ 597.7 Mn over the assessment period.
The U.S. is anticipated to hold a dominant share of 87.2% of the North America graphene nanocomposites market by 2031.
China will emerge as a lucrative market, creating an incremental opportunity of US$ 623.8 Mn in 2031.
Germany is projected to account for 22.0% of the Europe graphene nanocomposites market share in 2031.
South Korea and Russia will hold 10.3% and 4.1% of the global graphene nanocomposites market share respectively in 2021.

Competitive Landscape

Top players operating in the graphene nanocomposites Industry

Versarien Plc
Haydale Graphene Industries Plc
Graphenea S.A
Applied Graphene Materials PLC
Taiwan Graphene Co., Ltd.
Ningbo Moxi Technology Co., Ltd
Graphene Tech, S.L.
XG Sciences Inc.
NanoXplore, Inc
Directa Plus Plc
Aztrong Inc.

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Key Segmentation

By Product Type:

Graphene Oxide (GO)
Graphene Nano Platelets

By Application:

Electronics
Energy Storage
Automotive & Aerospace
Polymer Composites
Medical & Bio-Medical
Water Treatment
Research & Development

By Region:

North America
Europe
East Asia
Rest of World

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Sales Coaching Software Market to Grow at 6.4% CAGR, Targeting US$ 88.7 Billion by 2032

The sales coaching software market is expected to grow at a 6.4% CAGR from 2022 to 2032, rising from US$ 47.6 billion in 2022 to a valuation of US$ 88.7 billion by 2032. From 2021 to 2022, the industry is expected to grow by 8.4% year on year, surpassing its previous valuation of $443.9 billion.

The acquisition and implementation of technology have proven to be the simplest component of the sales equation. Using AI and the advancement of technology, coaching can provide a scalable yet personalized approach that ends up developing sales capabilities rather than just supporting individual deals, allowing for progress tracking and helping to cascade best practices from top reps.

The key to developing organizational skills is to provide formal and informal learning methods in a variety of delivery modes and formats. A technology solution enables sellers to access learning in the manner that best suits their learning preferences.

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While technology and systems are easily made available, and even implemented, improving performance is more urgently dependent on what is delivered. This has been proven to be the easiest way to improve sales in the market.

Key Takeaways from the Sales Coaching Software Market report:

Cloud-based sales coaching software to grow at a CAGR of 6.1% during the forecast period
U.S. market sales coaching software is forecast to reach US$ 31.5 Billion by the end of the forecast period, growing at a CAGR of 6.2%.
Growing numbers of IT businesses are expected to expand in China over the period of 2022-2032 growing at a CAGR of 5.9%.
Deployment across large enterprises to be maximum, growing at a 5.8% CAGR
With the increasing adoption of CRM software in Japan, the market will grow at a CAGR of 5.2% over the forecast period.

Competitive Landscape:

As new sales coaching software technologies are introduced, end-users will benefit from the introduction of new technologies. The ability to expand a company’s operational capabilities is one of the potential benefits of forming a strategic partnership. Businesses that use smart and dynamic sales coaching software to reduce security breaches and data losses in the market.
In May 2022, Mubadala announced that it had made an investment in SalesLoft, a global leader in providing the most comprehensive sales engagement platform, partnering with Vista Equity Partners, a leading global investment firm focused only on enterprise software, data, and technology-enabled businesses. Investing in the company results in an increase in valuation, capital, and partnership to accelerate the company’s development and growth trajectory.
In August 2021, Bigtincan (BLTC) announced plans to raise US$ 135.3 Million in extra funding for the purpose of purchasing the U.S. sales coaching business Brainshark Inc. With the purchase of Brainshark, the ASX-listed company will be able to create a combined business with an ARR of US$ 119 Million and 100% ownership of the business.

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More Valuable Insights Available:
Future Market Insights, in its new offering, presents an unbiased analysis of the global sales coaching software market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by type (cloud-based and web-based), and by application (large enterprises and SMEs), across five major regions (North America, Europe, Asia Pacific, Middle East, and Africa and Latin America).

Sales Coaching Software Market Segmentation:

By Type:

Cloud-based Sales Coaching Software
Web-based Sales Coaching Software

By Application:

Sales Coaching Software for Large Enterprises
Sales Coaching Software for SMEs

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Street Vendors Market Projected to Surge with a CAGR of Over 6%, Set to Reach US$ 8 Billion by 2032 | FMI

The street vendors market is estimated to reach US$ 2.5 Billion in 2022. As per the report, sales are forecast to increase at a robust 6% CAGR, with the market valuation reaching US$ 8 Billion by 2032.

A parallel world economy is operated by street sellers. They can be found anywhere, although they tend to congregate in crowded areas like bustling streets, byways, and public squares. They are a unique breed of independent business owners that are dominating the market with their classy manoeuvres, expanded market presence, mobility, and wide range of affordable items.

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The world’s markets are flourishing thanks to street vendors. While the vast shopping centres are stocked with pricey goods, these street vendors frequently supply the market with inexpensive goods, helping many people to live. The creation of self-help organisations that give these street vendors financial support is building a foundation for the expansion of the street vendor ecosystem. Since they contribute to the economy by spreading out the burden and creating jobs for the migrant population, many governments around the world have come to embrace their presence in the market. The expansion of street sellers is being aided by this emerging trend.

Key Takeaways:

In terms of area, rural areas segment are predicted to account for a dominant share of Travelers in the market through 2032.
On the basis of commodities, food products is anticipated to hold a major share in the market.

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Street Vendors Market by Category

By Vendor type, Street Vendors Market is segmented as:

Stationary
Peripatetic
Mobile

By Area, Street Vendors Market is segmented as:

Urban
Suburban
Rural

By Commodity, Street Vendors Market is segmented as:

Food
Cosmetics
Clothing
Daily necessities
Others

By Region, Street Vendors Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Non-ionizing Radiation EMF Detection, Measurement, and Safety Market Poised for 3.6% CAGR, US$ 94.5 Billion by 2032

The global non-ionizing radiation EMF detection, measurement, and safety market is expected to reach US$ 94.5 billion by 2032, rising at a 3.6% CAGR between 2022 and 2032, according to FMI Analysts. The market was estimated to be worth US$ 66.3 billion in 2022. Due to an increase in the use of electrical and electronic devices throughout the projection period, it is anticipated that sales of non-ionizing radiation EMF detection, measurement, and safety devices will grow.

Non-ionizing radiation EMF detection, measurement, and safety are becoming more in demand in the domestic and industrial sectors. Furthermore, there has been a sharp rise in the use of wireless technology globally across several industries. As a result, it is projected that the market share for non-ionizing radiation EMF detection, measurement, and safety will increase.

The demand for consumer electronics like tablets, smartphones, and laptops is also driving an increase in the need for non-ionizing radiation EMF detection, measurement, and safety.

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The usage of radiation detection and measuring tools and techniques has significantly increased due to growing public awareness of the health risks connected with exposure to these radiations. Therefore, during the forecast period, these factors are anticipated to favor the growth of the non-ionizing radiation EMF detection, measurement, and safety market.

There are several different types of radiation detection equipment, including area monitoring devices, handheld devices, and personal monitoring devices. Due to the growing use of electronic support measures (ESM), it is anticipated that non-ionizing radiation EMF detection, measurement, and safety equipment sales will expand throughout the forecast period.

Countries might concentrate their efforts on arming their armed forces with technology and systems for spotting and identifying threats from intruding systems by using electronic support measures (ESM).

It is crucial to manufacture products with enough sensitivity and accuracy standards due to the government’s stringent regulatory controls on radiofrequency and other non-ionizing radiation exposure. Non-ionizing radiation EMF detection, measurement, and safety device manufacturers must create products that can accommodate new technologies and satisfy the requirements of varied end users. Therefore, shortly, these restrictions are anticipated to restrain the expansion of the non-ionizing radiation EMF detection, measurement, and safety market.

Key Takeaways from the Non-ionizing Radiation EMF Detection, Measurement, and Safety Market report:

By end use, the military and homeland security segment is anticipated to dominate the global non-ionizing radiation EMF detection, measurement, and safety market with a CAGR of 3.7%. It is due to considerable growth in non-lethal attacks in warfare using non-ionizing and ionizing solutions to damage the nation’s military’s electromagnetic transmissions.
By device, the handheld monitoring device segment dominated the non-ionizing radiation EMF detection, measurement, and safety market with a CAGR of 4.5%. This is due to their simplicity of use and handling; handheld devices have seen a larger demand than other types of gadgets.
With constant advancements in these devices, demand for handheld devices is expected to skyrocket shortly, presenting a lucrative growth opportunity for non-ionizing radiation EMF detection, measurement, and safety market participants.
With a market share of approximately US$ 39.2 billion during 2022-2032, the U.S. is anticipated to emerge as the top regional market for non-ionizing radiation/EMF detection, measurement, and safety. The huge number of non-ionizing radiation/EMF detector manufacturers is thought to be the key driver of this regional market’s growth.
Due to rising consumer awareness, Asia Pacific is expected to see an increase in demand for non-ionizing radiation/EMF detection, measurement, and safety equipment shortly.

Competitive Landscape:
Wave control, Narda Safety Test Solutions, Mirion Technologies, Inc., Brightsandz Pvt Ltd., and General Tools & Instruments LLC are some of the key players in the global non-ionizing radiation EMF detection, measurement, and safety market.

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Non-ionizing Radiation EMF Detection, Measurement, and Safety Market Segmentation:

By Detector:

High Frequency
Low Frequency
Others

By Device:

Personal Monitoring Devices
Handheld Monitoring Devices
Area Monitoring Devices

By End-use:

Residential
Healthcare
Military and Homeland Security
Manufacturing
Laboratory and Education
Telecommunication
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
South America

About Future Market Insights (FMI):

Contact Us:

Nandini Singh Sawlani

Global Travel Vaccines Market Set for Remarkable Growth with a CAGR of Over 9.8%, Expected to Reach US$ 6,914.22 Million by 2032 | FMI

The travel vaccines market is estimated to reach US$ 3,878.94 Million in 2022. As per the report, sales are forecast to increase at a robust 9.8% CAGR, with the market valuation reaching US$ 6,914.22 Million by 2032.

Vaccination is an extremely efficient way of preventing some infectious diseases. Vaccines
are relatively safe, with significant adverse effects being extremely rare. Most of the world’s youngsters are protected from a variety of infectious diseases by the routine immunisation programmes.

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Previously, millions of people died each year because of various diseases. Vaccination provides travellers with the option of preventing various infectious diseases that kids may come into contact with, when away from home.

There are several government bodies which are taking constant efforts in order to prevent the spread of diseases. Vaccinations are made mandatory to travellers before crossing the borders. Moreover, there are several pharmaceutical companies that are innovating as well as inventing new vaccinations for the constantly growing infectious diseases.

The players have developed vaccinations that have less dosages to ensure the safety and prevent the side effects caused by the vaccines. Combinations of vaccines are also being used to generate immunity against multiple diseases. The growing incidences of infectious diseases and increasing awareness among travellers will boon the travel vaccines sector in the upcoming times

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Key Takeaways:

In terms of disease type, covid-19 vaccinations will have great demand in upcoming years.
By booking channel, the in-person booking segment is anticipated to hold a noteworthy share of nearly ~65%.
In terms of age group, demand in the age group 0-14 years and 66-75 years will continue gaining traction through 2032.

Key Players

GlaxoSmithKline plc
Merck & Co.
Sanofi
Novartis AG
Pfizer Inc.
Dynavax Technologies
Emergent BioSolutions Inc.
Abbott
Bharat Biotech
Serum Institute of India
Takeda
Chiron
BioNTech
Astra Zeneka
GSK Vaccines
Moderna

Travel Vaccines Market by Category

By Disease Type, Travel Vaccines Market is segmented as:

Covid-19
Ebola
Influenza
Hepatitis
Others

By Booking Channel, Travel Vaccines Market is segmented as:

Online Booking
In Person Booking

By Tourist Type, Travel Vaccines Market is segmented as:

Domestic
International

By Tour Type, Travel Vaccines Market is segmented as:

Independent Traveler
Tour Group
Package Traveller

By Age Group, Travel Vaccines Market is segmented as:

0-14 Years
15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

By Region, Travel Vaccines Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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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Ski Vacation Market Carves Out Impressive Growth Path with Anticipated 8% CAGR, Enroute to US$ 15 Billion by 2032 | FMI

The global ski vacation market is estimated at US$ 5.0 Billion in 2022 and is projected to reach US$ 15.0 Billion by 2032, at a CAGR of 8% from 2022 to 2032.

Even though it’s not a guaranteed job, many young people have learned to depend on it reliably every winter. Skiing and snow sports in general are developing into new areas, and both participation and revenue are likely to grow over time.

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The ski industry is a significant role in both regional and global economies, and great power comes with great responsibility. When tourism isn’t quite performing to expectations, it can be quite harmful to employees and the nearby cities because billions of dollars in revenue are at stake. The epidemic took a notable toll on the thousands of seasonal workers who flocked to the ski hills every season, despite the fact that the sector as a whole is growing.

The market has a lot of potential for growth, so it’s something to keep an eye on over the forthcoming ski season. Ski resorts’ surrounding cities and towns, as well as those that are part of the Vail Resort system, are significantly impacted by snow sports tourists. Due to their dominance in the American ski business, they have significant economic clout and provide a consistent flow of winter tourism-related cash.

The global recognition of the various forms of material has also greatly benefited from the emergence of streaming services and the expanding use of internet connectivity worldwide. This has had a big impact on the growth of the ski vacation business, together with cheap international travel and easy access to lodging.

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Key Takeaways:

The North America and Europe regions hold a market share of ~28% and ~25% respectively.
The Covid-19 pandemic had a 45% impact on the value of the Ski Vacation Market.
S, Canada and Europe, New Zealand and Switzerland are some of the most popular destinations for Ski Vacation.
China and Russia are the most popular ski destinations for Ski vacation market.
Online booking channels lead the charts in Ski Vacation market booking channel segmentation.

Impact of COVID-19

The pandemic not only had an impact on the amount of tourists visiting resorts in 2020 and 2021, but it also inevitably had an impact on the employment opportunities at these resorts and in the neighboring ski villages. Naturally, if fewer people are coming, fewer people are working the elevators and giving newcomers instructions.

Many families started to place less importance on the annual ski trip as the country as a whole struggled with a shortage of spare income. Ski resorts rely heavily on a younger generation of seasonal employees who are able to work long hours and travel far from home for extended periods of time. There were numerous safety measures in place for the resorts that did begin operations for the 2021 ski season, limiting the number of skiers who may be on the premises at once. This had an impact on the quantity of guests and attendance that the resorts were able to draw, which resulted in a drop in tourism from prior years.

Key Players

Ski Trip Advisors
Ski Solutions
SNO holidays
Ski Travel
Ski.com
Lumi Experiences
Mogul Ski World
Prime Travels
Travel Excellence

The Film Tourism Sector by Category

By Type of Ski Holidays:

Group ski holiday
Family ski holiday
Luxury ski holiday
All-inclusive holiday
Beginners skiing
Advanced Skiing

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveller
Package Traveller
Tour Group

By Consumer Orientation:

Men
Women

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

About Future Market Insights (FMI)

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

Banking-as-a-Service (BaaS) Platform Market Poised for Remarkable Growth: US$ 16,715.3 Million Valuation with a 16.2% CAGR

The banking-as-a-service (BaaS) platform market reached a value of US$ 3,240.6 million in 2022. With steady progress, the market is predicted to reach US$ 3,713.7 million in 2023 and is poised to surge to a substantial value of US$ 16,715.3 million. Expected to maintain a (CAGR) of 16.2% from 2023 to 2033, the evolution of BaaS platforms is set to reshape the global financial services landscape.

The concept of banking-as-a-service (BaaS) presents an end-to-end model that facilitates direct connectivity between digital banks, third-party entities, and traditional banks’ systems through Application Programming Interfaces (APIs). This enables the construction of banking solutions atop regulated infrastructures provided by banks, unlocking the potential of open banking. This paradigm shift is reshaping the global financial services sector, allowing for the creation of innovative offerings.

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Revolutionizing the Financial Landscape: Banking-as-a-Service (BaaS) Redefining Collaboration:
In recent years, Banking-as-a-Service (BaaS) has emerged as an innovative avenue for collaboration between banks and third-party entities, offering customers digital-only banking products, enhanced experiences, and increased choices. This paradigm shift has transformed the dynamics of the financial services industry, benefiting both established players and newcomers.

Unveiling New Avenues with BaaS:
Banking-as-a-Service (BaaS) presents a comprehensive model that establishes direct links among digital banks, third-party entities, and traditional banks’ systems using APIs. This framework empowers stakeholders to create inventive banking solutions on regulated infrastructures, leveraging the potential of open banking. This transformative approach is reshaping the global financial services landscape.

Pioneering Open Banking: A Global Transition:
A remarkable transition is underway in the financial services sector as various countries adopt open banking regulations. This movement reflects an industry-wide shift toward shared data and infrastructure. Consumers are embracing this new normal, and the evolving landscape aligns with BaaS principles to foster collaborations among diverse stakeholders.

Seizing the Opportunity: Future-Proofing Through Tech-Savvy Strategies:
Forward-looking legacy banks with technological acumen are seizing the opportunity by establishing their own BaaS platforms. This strategic move not only positions them to leverage open banking ahead of competitors but also enables them to generate revenue by monetizing their platforms. The projected demand for BaaS platforms is set to surge with a Compound Annual Growth Rate (CAGR) of 16.2% from 2023 to 2033, surpassing the 14.1% CAGR observed from 2018 to 2022. This proactive strategy solidifies their position in a dynamic and evolving financial ecosystem.

Leading Key Players:

Sopra Banking Software
Solarisbank AG
Bankable
Treezor
11:FS Foundry
Clearbank Ltd.
Q2 Software, Inc.
Green Dot Corporation
Sterling National Bank
Banco Bilbao Vizcaya Argentaria (BBVA), S.A
Unit Finance Inc.
Starling Bank
Treasury Prime
ADVAPAY OÜ
Technisys

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Banking-as-a-Service (BaaS) Platform Market Segmentation:

By Solution:

Banking as a Service Platform
Banking as a Service APIs
Services
- Payment Processing Services
- Digital Banking Services
- KYC Services
- Customer Support Services
- Others

By Enterprise Size:

Small & Mid-sized Organizations
Large Organizations

By End User:

Banks
FinTech Corporations
Investment Firms
Others

By Region:

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

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Rail Wheel and Axle Market Growth Set to Reach US$ 7,603.4 Million by 2033 with a Steady 5.6% CAGR

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

Key Takeaways

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

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

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

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

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

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

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

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Competitive Landscape

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

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

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

Key Segments in the Global Rail Wheel and Axle Market

By Wheel Type:

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

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By Axle Type:

Hollow Axles
Solid Axles

By End Use:

High Speed Railway
Fast Speed Railway
Subway
Other End Uses

By Sales Channel:

OEMs
Aftermarket

Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani