Crowdsourced Security Market: Unprecedented Growth to Reach US$ 245.4 Million by 2033

The global crowdsourced security Industry size is anticipated to exceed a valuation of US$ 114.4 million in 2023. It is projected to hit a valuation of US$ 245.4 million by 2033. The market is predicted to thrive at a CAGR of 7.9% from 2023 to 2033.

Compared to engaging specialized in-house security teams or carrying out conventional penetration testing, crowdsourced security is possibly an affordable option. Instead of paying fixed salaries or high consulting costs, organizations may use crowdsourcing platforms to interact with multiple security professionals at once, paying only for the vulnerabilities found or successful tests run.

By showcasing a proactive attitude to security, crowdsourced security efforts may improve an organization’s image. Organizations may build trust with their user base, customers, and stakeholders by encouraging security researchers to properly report vulnerabilities. For instance,

  • A bug bounty program was started on HackerOne by NordVPN, a personal virtual private network service provider. It is part of a strategy to update VPN companies’ security measures.

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The BFSI sector is increasingly adopting crowdsourced security. The BFSI industry is a top target for cyber assaults because of the sensitive and priceless information it manages, including:

  • Financial data
  • Personally identifiable information (PII).
  • Transactional records.

The industry is subject to changing cyber threats including advanced hacking methods, malware, phishing assaults, and insider threats. By utilizing the skills of ethical hackers to find vulnerabilities and upgrade security procedures, crowdsourced security helps the BFSI industry boost its defenses.

North America is likely to dominate the global market. With a sizable number of companies operating across several industries, North America market accounts for a sizeable portion of the global economy. With such a wide range of businesses, from SMEs to huge international firms, crowdsourced security providers have many potentials to serve all types of businesses.

Key Takeaways from the Crowdsourced Security Market:

  • The global crowdsourced security industry size expanded at a CAGR of 5.8% from 2018 to 2022.
  • In 2018, the global market size stood at US$ 85.7 million.
  • The market size stood at US$ 107.6 million in 2022.
  • In 2022, the web application segment captured 39.2% of the market share.
  • In 2022, the on-premise deployment segment captured a 58.3% share of the global market.
  • In 2022, the United States captured a 14.5% share of the global market.
  • In 2022, China captured a 7.2% share of the global market.
  • In 2022, Japan captured a 5.1% share of the global market.
  • In 2022, India garnered a 10.2% share of the global market.

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Key Players Working in the Global Market

  • Applause
  • Cobalt Labs Inc.
  • Bugcrowd Inc.
  • Detectify
  • HackerOne

Recent Developments Observed by FMI:

  • Microsoft unveiled new cybersecurity services in May 2022. The three services—which were unveiled under the service umbrella category of “Microsoft Security Experts”—are human-led services designed to deliver “secure, compliant, and productive outcomes” for businesses that use them.
  • IBM opened its IBM Cybersecurity Hub in India in February 2023. To help businesses in Asia Pacific (APAC) region prepare for and manage the growing threat of cyberattacks on corporations, IBM announced this multi-million dollar investment in its resources.

Crowdsourced Security Market Segmentation

By Type:

  • Web Application
  • Mobile Application
  • Other Types

By Deployment Type:

  • Cloud-based
  • On-premise

By Organization Size:

  • SMEs
  • Large Enterprises

By Vertical:

  • Telecom & IT
  • BFSI
  • Healthcare
  • Travel & Hospitality
  • Retail
  • Media & Entertainment
  • Other Verticals

By Region:

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

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Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Global Central Venous Catheter Market Continues Upward Trajectory, Projected to Reach US$ 5,314.5 Million by 2033 at a 5.1% CAGR

Central Venous Catheter market
Central Venous Catheter market

The global central venous catheters market is expected to expand significantly and reach a valuation of US$ 5,314.5 million by 2033. Manufacturers in this industry can expect a consistent Compound Annual Growth Rate (CAGR) of 5.1% over the projection period, with a present market size of US$ 3,238.1 million in 2023.

In today’s healthcare system, central venous catheters are essential for carrying out necessary medical procedures and treatments. This projected market increase is a result of both the global rise in the prevalence of chronic diseases and the growing need for sophisticated medical equipment.

In order to administer drugs, fluids, and blood products, as well as to enable hemodynamic monitoring and central venous pressure measurement, central venous catheters are essential to medical treatments. The market for central venous catheters is expected to rise due to a number of factors, including the rising incidence of chronic diseases, the growing need for minimally invasive procedures, and improvements in catheter design and material.

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For patients who cannot get adequate nutrients through oral or enteral means, parenteral nutrition, or intravenous infusion of nutrients, is required. This encompasses those who have undergone surgery, are undergoing cancer treatment, or suffer from severe gastrointestinal diseases. Central venous catheters are becoming more and more necessary to provide parenteral nutrition therapy as people realize how important nutrition is to both overall health and patient rehabilitation.

Key Takeaways from the Central Venous Catheter Market Report:

  • In 2018, the global market size stood at US$ 2,446.9 million.
  • The market size developed at a 4.7% CAGR from 2018 to 2022.
  • In 2022, the global market size stood at US$ 3,074.7 million.
  • In 2022, the non-anti-microbial catheter segment garnered 75.7% of the central venous catheter market shares.
  • In 2022, the double lumen segment gained 63.6% of the central venous catheter market shares.
  • In 2022, the hospitals segment garnered 60.3% of the central venous catheter market shares.
  • The United Kingdom’s central venous catheter market will develop at a CAGR of 9.0% through 2033.
  • Germany’s central venous catheter market will rise at a 3.3% CAGR through 2033.
  • Australia’s central venous catheter market growth will thrive at a 5.1% CAGR through 2033.

Recent Developments Observed by FMI:

  • Coloplast unveiled a novel catheter in the United States in January 2023. The SpeediCath Flex Set catheter is intended for use by those with bladders and urine problems. Triple Action Coating Technology is a feature on all SpeediCath catheters designed to reduce the risk of urethral damage and urinary tract infections (UTIs) for patients with spinal cord injuries (SCI).
  • Braun Medical Inc. (B. Braun), a pioneer in infusion therapy, announced the launch of its new Introcan Safety 2 IV Catheter with one-time blood control in July 2022. The Introcan Safety 2 IV Catheter, the newest invention from B. Braun, makes IV access safer for the clinician by reducing the risk of blood exposure and needlestick accidents.

The CVC market is expected to continue growing as healthcare professionals strive to fulfill patients’ changing expectations and enhance clinical results. Central venous catheters are maturing into essential instruments in contemporary healthcare due to the convergence of cutting-edge technology, patient-centric design, and infection control measures. A dedication to innovation, regulatory compliance, and the search for cost-effective solutions for patients and healthcare systems underpin the market’s growth trajectory,” says an FMI analyst.

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Competitive Landscape

A blend of international and regional businesses defines the central venous catheter (CVC) market’s competitive environment. Prominent multinational corporations with sizable market shares include Becton, Dickinson and Company (BD), Teleflex Inc., and C.R. Bard (now acquired by BD). These market leaders use their vast product portfolios, well-developed distribution systems, and strong R&D departments to keep a competitive edge.

Regional players are essential to supplying local markets at the same time. They frequently concentrate on specialized markets, personalization, and affordable fixes while taking into account particular regional tastes and healthcare needs. Global and regional firms frequently use partnerships, mergers, and acquisitions to increase their market share, gain access to new technology, and improve their product offerings.

Recent Developments

  • In January 2023, Coloplast introduced a new catheter in the United States. People with bladder and urine issues are the target market for the SpeediCath Flex Set catheter. All SpeediCath catheters have Triple Action Coating Technology, a choice for people with spinal cord injuries (SCI) and intended to lower the risk of urethral injury and urinary tract infections (UTIs).
  • A pioneer in infusion therapy, B. Braun Medical Inc. (B. Braun) announced the introduction of its new Introcan Safety 2 IV Catheter with one-time blood control in July 2022. The newest innovation from B. Braun makes IV access safer for the clinician by lowering the possibility of needlestick injuries and exposure to blood with the Introcan Safety 2 IV Catheter.

Key Players in the Central Venous Catheter Market:

  • Angio Dynamics
  • C.R. Bard
  • Teleflex Incorporated
  • B. Braun Melsungen AG
  • Kimal Healthcare
  • Come B.V.
  • Medtronic Plc
  • Smiths Medical
  • Vygon (UK) Ltd.
  • Becton, Dickinson, and Company
  • Argon Medical Devices Inc.
  • Boston Scientific Corporation
  • Cook Medical Incorporated
  • Medical Components Inc.
  • Fresenius Kabi AG

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Central Venous Catheter Market Segmentation

By Product:

  • Dialysis Catheters
  • Acute Hemodialysis Catheter
  • Chronic Hemodialysis Catheter
  • Peritoneal Dialysis Catheter
  • PICC Catheters
  • Implantable Port
  • CVC Catheters
  • Tunneled Catheters
  • Non-tunneled Catheters

By Property:

  • Anti-microbial Catheter
  • Non-Anti-Microbial Catheter

By Design:

  • Single Lumen
  • Double Lumen
  • Multiple Lumen

By End-user:

  • Hospitals
  • Ambulatory Surgical Centers
  • Dialysis Centers
  • Specialty Clinics
  • Others

By Region:

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

About Future Market Insights (FMI)

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

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Future Market Insights Inc.
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Global Super Generics Industry is predicted to reach US$413 Billion by 2033, driven by a 7.2% compound annual growth rate | FMI

Global Super Generics Industry
Global Super Generics Industry

The Global Super Generics Industry is poised for a remarkable trajectory, with a projected market value of US$413 billion by 2033. This phenomenal growth is fueled by a robust Compound Annual Growth Rate (CAGR) of 7.2% anticipated between 2023 and 2033, according to a recent study by Future Market Insights Inc.

The super generics market has already established itself as a strong player within the pharmaceutical sector, generating a solid revenue of US$205 billion as of 2023. This stability signifies the market’s potential for significant advancements and exciting possibilities in the years to come.

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Future Market Insights (FMI) adopted a multidisciplinary approach during the pandemic era to focus on the growth and development of the Global Super Generics Industry. The study features insights into the current growth dynamics and the major revenue reforms prevailing in the market along with the key takeaways from the forecast.

The team of analysts at Future Market Insights is focussing on research and market study to produce different Global Super Generics Industry forecasts and predictions at both national and international levels. They have considered several loads of information about the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Super Generics Market.

Global Super Generics Industry Key Players

The writer will create content on the general strategies of market players. And then will write the key players in the market are: Sun Pharmaceutical Industries Ltd., Meda Pharmaceuticals Inc., Taiwan Liposome Company, Dr. Reddy’s Laboratories Ltd., Allergan plc., Teva Pharmaceutical Industries Ltd., and Celgene Corporation

Global Super Generics Industry Segmentation

The report provides insights on the important highlights and current trends prevailing in the market. This helps the readers to gain a deeper understanding and form an unbiased opinion of the market. Numerous segmentations have been provided for this market based on:

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Based on the product type

Based on the route of administration

Based on the distribution channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Drug Stores

Product Segmentation

The investigation offers a top-to-bottom evaluation of different clients’ journeys pertinent to the market and its segments. The study endeavors to assess the current and future development possibilities, undiscovered roads, and factors that shape their income potential in the global market by breaking it into di such as its types, applications, and region-wise assessment.

Full in-depth analysis of the parent market

The analysts at FMI are dedicated to providing insights after extensive research and study. The study also includes estimations, projections, and evaluation of the market dynamics.

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Important changes in market dynamics

The report has been created after detailed and exhaustive studies by the analysts at FMI taking several factors into consideration like monetary, ecological, social, mechanical, and political status of a particular demography. They study the key data to assess the revenue and production of manufacturers across various regions. The report also covers an in-depth analysis of the key changes in market dynamics in the recent past and the near future.

Segmentation details of the market

  • Former, ongoing, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets

Author

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

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Cloud Database and DBaaS Market Surges: Expected to Reach US$ 69,806.5 Million by 2033

The Cloud Database and Database-as-a-Service (DBaaS) market is poised for remarkable growth, with projections indicating a value of US$ 18,611.2 million in 2023 and a staggering rise to US$ 69,806.5 million by 2033. These figures reflect an anticipated Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period, underlining the industry’s tremendous potential and demand.

Healthcare, baking, and insurance businesses are dispersed and heavily rely on their websites. As a result, these businesses decide to use cloud databases and DBaaS solutions to cut their operating expenses and hence increase their productivity. The need for cloud databases and DBaaS is rising in non-traditional industries including social networking, online gaming, and online music merchants.

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Key Takeaways

  • One of the primary factors projected to drive the cloud database and DBaaS market growth is the growing need for self-driving cloud databases.
  • The solution component of the cloud database and DBaas market is expected to rise at a CAGR of 14.2% throughout the forecast period.
  • The structured query language segment is projected to rise at a CAGR of 13.6% throughout the forecast period.
  • North America is predicted to be the most advanced region in terms of cloud database and DBaaS adoption.

BFSI, consumer goods and retail, healthcare, and life sciences, telecom and IT, government, media and entertainment, manufacturing, and energy and utilities are just a few of the main industries that have embraced cloud database and DBaaS solutions and services.

Regional Trends and Insights

Geographically, the adoption of cloud databases and DBaaS solutions is not limited to specific regions. The trend is witnessed across the globe, with North America, Europe, Asia Pacific, and other regions embracing these solutions for their operational and strategic advantages. Factors such as the proliferation of cloud technology, increasing internet penetration, and a growing emphasis on digital transformation are contributing to the market’s widespread adoption.

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Demand Soars Across Industries: Healthcare, Banking, and More

Driven by the digital transformation era, the Cloud Database and DBaaS market is witnessing soaring demand from a range of industries. Notably, sectors such as healthcare, banking, and insurance, which rely extensively on online presence, are adopting cloud databases and DBaaS solutions to streamline operations, cut operational costs, and enhance overall efficiency. The trend extends to non-traditional sectors like social networking, online gaming, and online music retailers, which are also experiencing a notable surge in demand for these solutions.

Region-wise Insights and Category-wise Insights

In North America, the Cloud Database and DBaaS market is poised to grow exponentially due to the presence of established tech giants and the continuous innovation ecosystem. Europe follows suit with a strong inclination towards digitalization, while the Asia Pacific region showcases immense potential driven by a growing number of startups and businesses transitioning to cloud-based solutions.

Drivers and Opportunities

The adoption of cloud databases and DBaaS is fueled by the need for scalable, flexible, and cost-efficient data management solutions. Enterprises are recognizing the benefits of offloading their database management to cloud platforms, enabling them to focus on core competencies. This shift also caters to the growing requirement for remote accessibility, real-time data analysis, and seamless collaboration, thereby accelerating market growth.

Competition Analysis

The Cloud Database and DBaaS market is witnessing intense competition among leading players striving to expand their market share. Companies are investing significantly in research and development to offer innovative and robust solutions, catering to the evolving needs of various industries. As the market continues to expand, collaborations, partnerships, and strategic acquisitions are becoming commonplace strategies for companies aiming to enhance their competitive edge.

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Key Segments

By Database Type:

  • Structured Query Language (SQL)
  • Not only Structured Query Language (NoSQL)

By Component:

  • Solution
  • Services

Cloud Database and DBaaS Market By Service:

  • Professional Services
  • Consulting
  • Implementation
  • Support and Maintenance
  • Managed Services

By Deployment Model:

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Organization Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

By Vertical:

  • Banking, Financial Services and Insurance (BFSI)
  • Telecom and Information Technology (IT)
  • Government
  • Consumer Goods and Retail
  • Manufacturing
  • Energy and Utilities
  • Media and Entertainment
  • Healthcare and Life Sciences
  • Others (Education, Travel and Hospitality, and Transportation)

By Region:

  • North America
  • Europe
  • APAC
  • Middle East and Africa (MEA)
  • Latin America

Author:

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

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

About Future Market Insights (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Dual Axis Solar Trackers Market Targets a Valuation of US$ 24.8 Billion by 2033, Fueled by a Remarkable CAGR of 14.8% from 2023 to 2033

The Dual Axis Solar Trackers Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Dual Axis Solar Trackers market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Dual Axis Solar Trackers. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Dual Axis Solar Trackers Market is currently experiencing substantial growth, driven by increased government emphasis on renewable energy sources and the growing adoption of solar photovoltaic (PV) installations. Governments worldwide are redirecting their focus toward sustainable energy solutions, leading to a significant rise in demand for dual-axis solar trackers. These advanced tracking systems effectively enhance energy generation by dynamically aligning solar panels with the precise path of the sun, thereby optimizing solar exposure throughout the day.

Projections indicate that the global dual-axis solar tracker market is poised to reach a valuation of approximately US$ 6.3 billion by 2023. This growth can be attributed to the growing awareness of renewable energy sources, serving as a key driver for market expansion. Furthermore, estimations suggest that the market will achieve a total value of US$ 24.8 billion by 2033, reflecting a noteworthy compound annual growth rate (CAGR) of 14.8% from 2023 to 2033.

The increasing government focus on renewable energy sources, coupled with the rising deployment of solar PV systems, serves as significant catalysts for the upward trajectory of the dual-axis solar trackers market. Demonstrating their effectiveness, these dual-axis solar trackers are increasingly being embraced in large-scale solar power projects on a global scale. Their ability to yield higher energy output per unit of installed capacity makes them exceptionally well-suited for utility-scale installations and commercial solar farms.

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The surge in energy demand has led to an increased need for augmented electricity production. Within this context, the adoption of dual-axis solar trackers is experiencing a significant upswing, especially in extensive solar projects. The increased deployment of these trackers, along with their advanced tracking algorithms, sensor integration, and control mechanisms, has greatly improved their precision and operational efficiency. These technological advancements have also resulted in enhanced reliability, cost efficiency, and seamless integration capabilities for dual-axis solar trackers. This positive trend is expected to drive substantial market growth in the foreseeable future.

The North American region has emerged as a prominent hub for ongoing technological innovation, playing a key role in the development of dual-axis solar tracker systems. These innovations have been instrumental in boosting energy output levels and strengthening system reliability. Consequently, dual-axis trackers have become an increasingly attractive option for solar projects in the region.

Key Takeaways:

  • The period from 2018 to 2022 experienced a substantial surge in demand for dual-axis solar trackers, demonstrating an impressive Compound Annual Growth Rate (CAGR) of 8.8%.
  • When categorized by type, the single-axis segment exhibited remarkable growth, contributing significantly to a CAGR of 14.4%.
  • An in-depth analysis based on application reveals that the utility segment is poised for substantial expansion, with a projected CAGR of 14.1% throughout the forecast duration.
  • The North American region is strategically positioned to emerge as a promising market for dual-axis solar trackers, boasting an anticipated CAGR of 14.7%.
  • Projections indicate that the dual-axis solar tracker industry in the United Kingdom is progressing steadily towards a significant milestone, expected to reach a valuation of US$ 1 billion by the year 2033.
  • Meanwhile, the dual-axis solar trackers market in South Korea is predicted to achieve substantial market revenue of US$ 1.3 billion by 2033.
  • The Asia Pacific region presents itself as an opportunistic market with an estimated CAGR of 14.6% during the projected forecast period.

 “Increased power demand globally and increasing technological innovation are expected to drive the market in the forecast period. The supportive government policies and increased use of renewable energy sources play a vital role in strengthening the market” – comments a lead analyst at FMI.

Competitive landscape:

  • Soitec,
  • First Solar, Inc.,
  • Reutech Radar Systems,
  • Targray Technology International Inc.
  • Trina Solar Co. Ltd.

among others are some of the market players operating in the dual-axis solar tracker market.

  • SunPower: Renowned solar energy enterprise with a notable presence in the dual-axis solar tracker sector.
    • Offers sophisticated dual-axis trackers seamlessly integrated with its premium high-efficiency solar panels.
    • Tracker systems meticulously engineered to optimize energy yield and elevate overall system efficiency.
    • SunPower’s foray into the dual-axis solar tracker domain bolsters the industry with proven expertise and credibility.
  • Arctech Solar: Prominent global manufacturer specializing in solar tracking and racking systems.
    • Recognized for its provision of dual-axis trackers celebrated for exceptional precision and dependable performance.
    • Extensively engaged in large-scale solar ventures across the globe, delivering tailored dual-axis tracking solutions for maximal energy production.

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Know More about this Market Report:

Future Market Insights offers an unbiased analysis of the global dual-axis solar trackers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the dual-axis solar trackers market, the market is segmented based on type and application across five major regions.

Key Segments:

By Type:

  • Single Axis
  • Dual Axis

By Application:

  • Utility
  • Non-Utility

By Region:

  • North American
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

Explore this report from different publication

Dual axis solar tracker Market@ https://www.globenewswire.com/en/news-release/2023/06/08/2684474/0/en/The-Dual-Axis-Solar-Tracker-Market-is-projected-to-reach-a-valuation-of-US-24-8-Billion-by-2033-exhibiting-a-significant-CAGR-of-14-8-from-2023-to-2033-Future-Market-Insights.html

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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Compressors and Vacuum Pumps Market: Forecasted Surge to Over US$57.8 Billion by 2033, Fueled by a 4.4% CAGR

The Compressors and Vacuum Pumps Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Compressors and Vacuum Pumps market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Compressors and Vacuum Pumps. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Compressors and Vacuum Pumps Market is currently experiencing a notable upswing in demand, largely propelled by the rapid expansion of the industrial sector, particularly in emerging economies. Key industries such as manufacturing, oil and gas, and chemicals have increasingly come to rely on these indispensable technologies. This heightened demand is further driven by substantial investments in extensive infrastructure projects encompassing construction, power generation, and transportation. Consequently, the Compressors and Vacuum Pumps Market has emerged as a pivotal player in advancing and supporting the multifaceted requirements of these dynamic industries.

Projections indicate that the global compressors and vacuum pumps market is poised to reach a valuation of approximately US$ 37.6 billion by the year 2023. This growth trajectory is primarily underpinned by the continuous expansion of the industrial sector. Furthermore, the market is estimated to attain a value of US$ 57.8 billion by 2033, reflecting a commendable Compound Annual Growth Rate (CAGR) of 4.4% from 2023 to 2033.

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The burgeoning industrial sector, particularly in developing nations, is a primary driver behind the escalating demand for compressors and vacuum pumps. Industries such as manufacturing, oil and gas, and chemicals are pivotal contributors to this demand surge. This heightened requirement is further compounded by investments in infrastructure projects, spanning construction, power generation, and transportation.

Sustained innovation in compressor and vacuum pump technologies is fostering the creation of more energy-efficient and environmentally friendly devices. Stringent environmental regulations pertaining to emissions and energy efficiency are propelling the adoption of advanced compressors and vacuum pumps. Companies are dedicating their efforts to developing products that conform to these regulations and contribute to a reduction in environmental impact. Moreover, the increasing trend of industrial automation and the embrace of smart manufacturing techniques are generating a demand for cutting-edge compressed air and vacuum systems. These systems play an indispensable role in the realm of automated production processes.

The demand for compressor and vacuum pumps in the market exhibited robust growth from 2018 to 2022, registering an impressive Compound Annual Growth Rate (CAGR) of 5.4%.

  Among the various product types in the market, the positive displacement compressor segment displayed notable growth, with a CAGR of 4.2%.

  When considering application areas, the Industrial segment is poised for significant expansion, projected to achieve a CAGR of 4.0% during the forecast period.

  North America is anticipated to emerge as a promising market for compressor and vacuum pumps, with a notable CAGR of 4.3%.

  The United Kingdom’s compressor and vacuum pumps industry is expected to reach a substantial market value of US$ 2.3 billion by the year 2033.

  Likewise, the South Korean market for compressor and vacuum pumps is forecasted to achieve a substantial market revenue of US$ 3 billion by 2033.

  In the broader context of the global market, Asia Pacific is identified as an opportunistic market for compressor and vacuum pumps, with expectations of capturing a noteworthy CAGR of 4.3% during the forecast period.

 “The increasing demand for energy-efficient, sustainable, and technologically advanced compressors and vacuum pumps is projected to play a vital role in strengthening the market. Increasing technological advances in the industrial sector are expected to drive the market in the forecast period.”.

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Competitive landscape:

Atlas Copco AB; Bauer Compressors Inc., Ariel Corporation; Baker Hughes Company; Aerzener Maschinenfabrik GmbH; are some of the prominent players in the compressor and vacuum pumps market.

  • Siemens is a leading player in the compressors and vacuum pumps market, offering a wide range of solutions for different applications. The company focuses on providing energy-efficient compressors and vacuum pumps that comply with environmental regulations. Siemens has also integrated IoT technology into its products, enabling remote monitoring and predictive maintenance capabilities. The company aims to provide sustainable and reliable solutions for industrial processes.
  • Pfeiffer Vacuum specializes in high-performance vacuum solutions. The company offers a comprehensive range of vacuum pumps, including rotary vane, diaphragm, and turbomolecular pumps. Pfeiffer Vacuum has focused on developing advanced vacuum technology for various industries, including semiconductor, analytical, and research applications. They continuously invest in R&D to offer innovative and reliable vacuum solutions.

Know More about What the Compressor & Vacuum Pump Market Report Covers

Future Market Insights offers an unbiased analysis of the global compressor and vacuum pump market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the compressor and vacuum pump market, the market is segmented based on product type and application across five major regions.

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Market Segmentation:

By Product Type:

  • Positive Displacement Compressors
  • Dynamic Compressors
  • Rotary
  • Liquid Ring
  • Diaphragm
  • Others

By Application:

  • Industrial
  • Commercial
  • Residential

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Seismic Protection Device Market Poised to Achieve Significant Value of US$ 2,220.8 Million by 2033.

The Seismic Protection Device Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Seismic Protection Device market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Seismic Protection Device. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Seismic Protection Device Market is currently experiencing a surge in interest, driven by advancements in cutting-edge materials used in earthquake protection systems. Unlike traditional counterparts, specific materials such as shape memory alloys, fiber-reinforced composites, and high-performance damping materials are gaining significant attention for their exceptional properties. These materials not only enhance performance, durability, and flexibility but also signify a significant shift in our approach to seismic resilience.

According to Future Market Insights (FMI), the global market for seismic protection devices is poised to reach a value of US$ 1,525.4 million by 2023. Projections indicate that by 2033, its value will surpass US$ 2,220.8 million. During the assessment period spanning from 2023 to 2033, the market is expected to exhibit a compound annual growth rate (CAGR) of approximately 3.8%.

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The seismic protection devices market is undergoing a notable integration of smart technologies and the Internet of Things (IoT). Manufacturers are now offering users real-time monitoring, data analysis, and remote control features, enabling the implementation of more effective and efficient earthquake protection systems.

The development and application of innovative materials in earthquake protection systems are garnering increased attention. Compared to conventional materials, materials such as shape memory alloys, fiber-reinforced composites, and high-performance damping materials offer superior performance, durability, and flexibility.

The importance of retrofitting seismic protection systems into existing structures is on the rise. Many infrastructures in various nations require updates to withstand seismic events, and retrofitting provides a means to enhance the resilience of these buildings without necessitating complete reconstruction.

Proactive and resilient infrastructure planning that integrates earthquake protection measures from the outset of the design and construction process is gaining prominence. This strategic approach involves the incorporation of seismic safety protocols into the infrastructure development process.

Suppliers are now offering comprehensive support services, encompassing architectural design, construction expertise, and urban planning, to ensure a more robust response to client requirements. This comprehensive approach contributes to client retention and satisfaction.

To provide real-time insights into the structural integrity of buildings and infrastructure, structural health monitoring systems are being seamlessly integrated with seismic protection equipment. This integration enhances the safety and reliability of structures, enables predictive maintenance, and facilitates early detection of potential issues.

Environmental and sustainability considerations are assuming greater significance within the seismic protection device industry. There is an enduring demand for environmentally friendly and energy-efficient solutions that minimize their ecological footprint while upholding performance and safety standards.

Key Takeaways:

  • In 2022, the two leading regions in the global seismic protection device market maintained a consistent market share of approximately 57.3%.
  • The global seismic protection device industry is forecasted to experience a Compound Annual Growth Rate (CAGR) of 3.8% during the assessment period from 2023 to 2033.
  • Within the product category, dampers are expected to maintain their dominant position, surpassing US$ 1345.3 million in revenue by the year 2033.
  • Notably, key participants in the seismic protection device industry collectively hold a substantial market share, accounting for approximately 50% to 55% of the total market.
  • In terms of application, the commercial segment is anticipated to maintain a significant market share, estimated at around 35% in the year 2023.

 “High seismicity areas have historically been concerned with seismic protection. However, there is a rising level of awareness and market expansion in earthquake-prone emerging areas. Necessity of making investments in seismic protection measures to guarantee the security of their infrastructure is being acknowledged by governments and organizations in these areas.” – says a lead analyst Future Market Insights (FMI)

Competitive Landscape:

Establishing robust customer relationships and delivering exceptional customer service are pivotal elements for achieving success within the industry. Companies that offer comprehensive support, encompassing engineering proficiency, adept project management, and unwavering maintenance services, can distinguish themselves distinctly from their competitors. The cultivation of resilient customer relationships and the cultivation of a reputation characterized by dependability and rapid responsiveness can culminate in recurring business engagements and valuable referrals.

The competitive landscape is not uniform and exhibits variations across different regions. Companies holding a prominent presence in seismically active areas such as Japan, the United States, and New Zealand may inherently possess a competitive edge. This advantage is primarily attributable to their geographical proximity and extensive experience in mitigating the distinctive challenges posed by local seismic conditions. Moreover, the competitive dynamics within specific regions are notably influenced by the prevailing local regulations and building codes in force.

For instance,

  • Sumitomo Metal Mining Siporex Co., Ltd, a company established in Japan, manufactures and sells equipment for controlling seismic vibration and isolation. SIPORIT, a seismic isolation system for buildings, and SICUBE, a seismic isolation system for bridges, are among the company’s offerings. In order to help clients, the corporation maintains a number of sales centers strategically positioned across the United States.

Find More Valuable Insights:

The research report analyzes the demand and trends of the global seismic protection device market. The market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and rate of urbanization.

As per Future Market Insights (FMI), the seismic protection device industry has been studied and segmented on the basis of product type (dampers, seismic joints, isolators), application (industrial, commercial, infrastructure), and regions. The report provides qualitative and quantitative information on various players in this market. This report also tracks the supply and demand sides of the market.

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Key Segments:

By Product Type:

  • Dampers
    • Fluid Dampers
    • Silicon/Friction Dampers
    • Steel Hysteresis Dampers (SHD)
  • Seismic Joints
    • Flexible Joints
    • Expansion Joints
  • Isolators
    • Base Plate Isolator
    • Elastomeric Isolators
      • Natural Rubber (NRB)
      • Lead Rubber (LRB)
      • Tin Rubber (TRB)
      • High Damping (HDR)
      • Screw Down Non-return Globe Valves (SDNR)
    • Slider
      • ESL
      • SL
      • CSL
      • SLR

By Application:

  • Industrial
    • Exploration and Refineries
    • Aviation
    • Power Generation
    • Others
  • Commercial
    • Hotels
    • Data Storage Centers
    • Healthcare Institute
    • Fire Response
    • Offices
  • Infrastructure
    • Bridges
    • Residential High Rise Building
    • Others

By Region:

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

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com

Chilled Soup Market on the Rise: 5% CAGR Growth to Elevate Market Worth to US$ 1304.74 Million by 2033

The chilled soup market is sizzling with culinary innovation. This trend reflects a growing demand for fresh, healthy, and convenient options. Chilled soups, ranging from classic gazpacho to modern avocado blends, offer a delightful way to beat the heat while maintaining nutritional goals. The market’s expansion is driven by health-conscious consumers seeking low-calorie, nutrient-rich meals.

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of chilled soup are estimated to expand from US$ 801 Mn in 2023 to US$ 1304.74 Mn in 2033, surging at a 5% CAGR through the decade.

There is a growing acceptance of frozen foods throughout the world, which is driving the growth of the chilled soup market worldwide. Manufacturers are introducing frozen confectioneries, yogurts, and other snacks to meet this rising demand.

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There has been a flood of fruit-flavored chilled soups that promote health and taste as a tasty snack. Companies are positioning drinkable chilled soups as cold-pressed, sweet soups. As far as reducing sugar intake is concerned, consumers seem to prefer vegetables or even savory options.

Over the past several years, consumers around the world have become increasingly interested in healthy snacking served chilled, especially during the summer months. Of the many flavours available, fruit-flavoured soup has gained new popularity among consumers who wish to experience new sensory perceptions through the consumption of soup.

This market is experiencing growth due to the increasing demand for savory options. Soups with a sweet taste have gained traction over the years due to the growing demand for healthy snacks.

Due to the growing popularity of ready-to-eat snacks and beverages in developing economies, chilled soup has become increasingly popular among a variety of demographics. As a result of specialty distribution channels in urban areas of emerging economies, demand for such products has increased significantly.

“A trend of personalization adopted by chilled soup brands has opened up new avenues in the market in recent times. The rise of organized retail formats is enhancing the prospects of players in the chilled soup market.” says a lead analyst at Future Market Insights.

Key Takeaways from the Market Study

  • The market for chilled soup is expected to grow at a CAGR of 5% over the forecast period.
  • According to estimates, the chilled soup market in the United States will remain strong throughout the length of the forecast period.
  • In the market, the pouches segment of the packaging classification appears to be predicted to lead through 2033. PET bottles have also gained a lot of attention.
  • Supermarkets are the most popular distribution channel in the global chilled soup market.
  • It is expected that the chilled soup market in China will demonstrate a high level of growth by the year 2033.

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Competitive Landscape:

In the chilled soup market, there are numerous international and regional players competing, making it highly competitive. Several prominent companies dominate this market, including Campbell Soup Company, Unilever, General Mills, Nestle SA, Kraft Heinz Company, PepsiCo, Inc., Sonoma Brands, Soupologie, The Billington Group, Tio Gazpacho, and Woolworths Group Limited.

It is a highly consolidated market, with these players holding the majority share. Companies are focusing on price, quality, ingredients, and promotions to gain a dominant market share.

These companies are investing more in research and development (R&D) to develop consumer-driven flavors and ingredients to expand their presence and maintain their position in the market.

Recent Developments:

  • An organic and chilled soup that can be consumed right away was introduced by ZÜPA NOMA in 1000 U.S. stores in 2016.
  • In 2021, Pacific Foods, a subsidiary of Campbell Soup Company, introduced plant-based soups and broths that are vegan and organic, and are certified by the USDA as vegan and organic.
  • Clarity Food Ventures LLC introduced a product line of refrigerated soup kits in 2020. These soups take less than three minutes to make and come in different flavors.
  • Kikkoman Corporation inaugurated a dedicated research & development center in Japan to reinforce the focus on the taste and innovations of sauces in the country in August 2019.

Chilled Soup Market by Category

By Packing Type, the Chilled Soups Market is Segmented as:

  • PET Bottles
  • Carton Packaging
  • Cups/Tubs
  • Pouches

By Distribution Channel, Chilled Soup Market is Segmented as:

  • Supermarket/Hypermarket
  • Premium Grocery Stores
  • Online Retail
  • Direct Selling

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Frequently Asked Questions

  • At What Rate is the global Chilled Soup Market expected to grow?
  • What is the Growth Potential of the Chilled Soup Market?
  • What is the Market Scenario of Chilled Soup?
  • Which Region Dominates the Market for Chilled Soups?
  • How the Competition is Structured in the Global Chilled Soup Market?

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Hog Feeder Market to Witness US$ 2,516 Million Surplus by 2033 and 5.1% CAGR Growth

The global hog feeder market is expected to grow from US$ 1,530 million in 2023 to over US$ 2,516 million by 2033. The adoption of hog feeders is expected to rise at a CAGR of 5.1% during the forecast period.

Due to the inefficiency of manual machinery and the high labor expenses associated with operating manual or semi-automatic feeders, the demand for automated hog feeders has increased. Hog feeder devices that are highly user-friendly and practical are being developed by the makers. Due to the expanding hog population and rise in disposable money, automatic hog feeder sales have surged. These are the factors that are propelling the development of automatic hog feeder equipment on a global scale.

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Additionally, farmers are more interested in employing autonomous hog feeder equipment to reduce labor needs and enhance hog productivity due to the surge in demand for hog meat and associated goods throughout the world. Therefore, during the projected period, these factors are anticipated to increase the adoption of hog feeder equipment.

The rising demand for animal protein, notably in the form of meat, is expected to enhance hog output, which is also expected to hasten the growth of the hog feeder sector. Pork is highly popular among the people of various economies because of its fair price structure. Sales of hog feeders are expected to increase throughout the projection period as a result of well-established pork markets in western countries and expanding trade in livestock and pork across several global economies.

Key Takeaways from the Hog Feeder Market

  • The bunk feeder category is estimated to dominate the market for hog feeders, with a predicted CAGR of 6.9% throughout the research period.
  • The stainless-steel hog feeders market is anticipated to grow at a CAGR of more than 5.89% by 2033 due to stainless steel’s resistance to corrosion, tensile strength, and durability.
  • By 2033, the U.S. hog feeder market is projected to reach US$ 433.8 million, growing at a CAGR of 8.3%. Additionally, the growing demand for pork-based goods is having an impact on the growth of this industry in the US.
  • By 2033, the German hog feeder market is projected to be valued at US$ 227.0 million, expanding at a CAGR of 15.6%.
  • By 2033, the Japanese hog feeder market is expected to reach US$ 270.6 million, growing at a robust CAGR of 4.8%.
  • China holds a 10.1% market share in the global hog feeder market and is expected to develop at a CAGR of 4.1% over the projected period.
  • Due to the large hog consumption in the area, it is predicted that China’s hog feeder sector is likely to reach US$ 219.5 by 2033.

Who is Winning?

Major corporations in the hog feeder industry are focusing on mergers and acquisitions and collaborating with regional firms to increase their market share in the global market. To gain a competitive edge, the government, equipment manufacturers, commercial distribution utilities, and service providers are substantially investing in research and development activities to reduce power outages and raise the demand for automated hog feeding systems.

Due to the existence of some of the big players, the hog feeder industry has strong competition. The hog feeder industry is moderately concentrated, and numerous well-known corporations use strategies including product innovation, mergers, and acquisitions to outperform competitors.

 Recent Developments in the Hog Feeder Market:

  • In May 2022, ANDRITZ revealed three new developments in animal and aqua feed equipment: the micro feed system, the 3-Rolls assembly update for the Paladin 2000, and the metris vibe. The aqua feed-specific extruder is used in this micro feed system. When compared to conventional extrusion machines, the technology increases capacity by 40% with a size of less than 2mm.
  • The Kahl Group member F.H. Schule Mühlenbau and Bratney Companies signed a strategic collaboration agreement in July 2019. This partnership includes joint distributorship, sales, and promotional efforts in the United States for both new and existing milling facilities.

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Key Segments Covered in the Report

By Product Type:

  • Hay Feeders
  • Bunk Feeders
  • Feed Feeders
  • Lick Feeders

By Material:

  • Stainless Steel
  • Mild Steel
  • Plastic
  • A mix of Plastic & Stainless steel

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Plant-Based Meal Kit Market to Witness Rapid Growth, Expected to Reach US$ 2,528.5 Mn by 2032, According to FMI

According to Future Market Insights (FMI), the global plant based meal kit market is anticipated to surpass a valuation of US$ 954.2 Mn by the end of 2022. The total sales of plant-based meal kits are likely to grow at a CAGR of 16.5-2032 to reach a market value of USD 2,528.5 million by 2032. and is expected to increase sharply over the next decade (2022-2032). This is due to the growing consumer base and progressive food culture.

The factory-based food market is a rapidly growing industry driven by a number of factors. First, the growing demand for healthy, sustainable and convenient food options has increased the number of consumers looking for plant-based meal kits.

As more and more people want to reduce their meat consumption, vegan and vegetarian diets have become increasingly popular in recent years. This trend has opened up a huge opportunity for companies to offer quality plant-based meal kits to meet this demand.

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One of the biggest trends in this growth is the health benefits associated with a plant-based diet. Studies show that a diet rich in vegetables and fruits can reduce the risk of certain cancers, heart disease, obesity and diabetes. In addition, many people adopt a plant-based diet and veganism for ethical reasons related to animal welfare or environmental sustainability.

Additionally, the easy availability of plant-based meal kits through both online and offline distribution channels and the number of new companies entering this region during the forecast period will expand the global plant-based meal kits market.

Key Takeaways from the Plant based Meal Kit Market Study:

  • By product type, the plant based milk segment holds a significant share of the global market and it is expected to grow at a stupendous pace through 2032.
  • Based on distribution channels, the online segment is likely to generate high revenues for the market.
  • North America together with Europe hold the largest share of the worldwide plant based meal kit industry.
  • The U.S. currently holds around 29.4% of the global plant based meal kit market and it is poised to exhibit moderate growth during the next ten years.
  • China’s plant based meal kit market is expected to grow at 15.8% CAGR during the forecast period between 2022 and 2032.
  • SunOpta, Danone S.A., and Beyond Meat are among the market’s largest players.

“With the rise of ecommerce platforms and home delivery services, consumers now have easier access to plant based meal kit products than ever before. The ability to purchase these meals online or through apps adds convenience and flexibility to meal planning, making them even more appealing to health-conscious consumers”, says a lead FMI analyst.

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Who is Winning?

The plant-based meal kits market is becoming increasingly competitive, with more and more companies entering the space to meet consumer demand for healthier food options.

The Kellogg Company, The Hain celestial group, Beyond Meat, SunOpta, Danone S.A., ADM, Cargill, Eden foods, Kerry group, Sun brothers, Impossible foods, Unilever, Campbell soup are profiled to be the top players driving the market forward.

Get Valuable Insights into Plant Based Meal Kit Market

FMI, in its new offering, provides an unbiased analysis of the plant based meal kit market presenting historical demand data (2017-2021) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for plant based meal kit based on product type (plant based milk, plant based dairy, plant based meat), and distribution channel (online, offline) across several regions.

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

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Plant Based Meal Kit Industry Segmentation: –

By Product Type:

  • Plant Based Milk
  • Plant Based Dairy
  • Plant Based Meat

By Distribution Channel:

  • Online
  • Offline

By Region:

  • North America
  • Latin America
  • Asia pacific
  • Eastern Europe
  • Western Europe
  • Japan

About Future Market Insights (FMI)

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

Contact FMI:

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