Hardware Security Module Market is expected to reach US$ 6.6 Bn in 2032

A hardware security module is a novel platform that is used to safeguard and manage cryptographic keys for strong authentication. It is also used to protect physical devices from threats that allow unauthorized access to an organization’s systems.

By strengthening encryption processes, hardware security modules secure data, identities, and transactions within the network. Thus, enterprises worldwide are focusing on investing in HSMs to achieve higher levels of data security, mitigate risks, build customer trust, maintain high service levels, and achieve agility.

According to a report by Future Market Insights (FMI), the global hardware security module (HSM) market size is anticipated to grow at a CAGR of 16.2% during the forecast period from 2022 to 2032.

The report further states that the hardware security module market is set to reach a valuation of US$ 1.47 Bn by the end of 2022. Exponential rise in cyber breaches is resulting in the loss of confidentiality, integrity, and availability of crucial data. On account of that, companies have started focusing on the adoption of encryption management platforms that provide a high level of security to protect their infrastructure and data.

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Key Takeaways: Hardware Security Module Market

· By type, the USB-based/portable HSMs segment is expected to grow at a CAGR of 18.0% during the forecast period (2022-2032).

· In terms of application, the payment processing segment is anticipated to grow at a CAGR of 18.5% between 2022 and 2032.

· By sales channel, the distribution channel (integrators, distributors, and VARs) segment is projected to grow at a CAGR of 16.5% between 2022 and 2032.

· Based on industry, adoption of hardware security modules in the manufacturing sector is anticipated to grow at a CAGR of 18.4% in the upcoming decade.

· In Europe, the U.K. is likely to generate about 18.8% of the hardware security module market share in the evaluation period.

“Companies are adopting PCIe-based HSMs to protect online payment applications and credit card transactions. Ability of these HSMs to offer stronger centralized control via secure remote management, transmission, and backup is fueling demand in the market,” says an FMI analyst.

Increasing Adoption of Digital Signatures to Open New Opportunities for Key Players

Many document-based processes in a wide range of industries require signatures. Physical signatures tend to slow down their operations as they are easily alterable, tampered with, and inconvenient in today’s world.

A digital signature is generally viewed as safer than a physical signature that is used on a paper-based document. Digital signatures can authenticate electronic documents by providing data integrity and non-repudiation. They are considered to be the most convenient way to sign important documents such as contracts and invoices.

Hardware security modules are used to initiate digital signing by using long-term and short-term signature certificates. HSMs provide a safe environment required to generate and protect cryptographic keys that are needed to validate sensitive data. These help in saving costs and automating workflows while also ensuring document integrity and meeting compliances.

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Competitive Landscape

To establish a strong foothold in the lucrative hardware security module market, key players are focusing on adopting various organic and inorganic strategies. They are mainly engaging in collaborations with local companies, new product launches, acquisitions, partnerships, as well as expansion of regional and global distribution networks to compete with their rivals.

  • In February 2022, Securosys and Randtronics established a strategic agreement to integrate the former’s CloudsHSM portfolio with the data privacy manager (DPM) of Randtronics. Enterprises can use the hardware security module of Securosys with Randtronics’ DPM to securely manage their cryptographic keys throughout their organizations.

Hardware Security Module Market Outlook by Category

By Type:

  • LAN-based HSMs/Network-attached HSMs
  • PCIe-based/Embedded Plugin HSMs
  • USB-based/Portable HSMs

By Application:

  • Payment Processing
  • Code and Document Signing
  • SSL and TLS
  • Authentication
  • Database Encryption
  • PKI or Credential Management
  • Application-Level Encryption

By Sales Channel:

  • Direct Sales Channel
  • Distribution Channel (Integrators, Distributors, VARs etc.)

By Industry:

  • BFSI
  • Healthcare & Life Sciences
  • Manufacturing
  • Retail & CPG
  • Government & Defense
  • Energy & Utilities
  • Others

By Region:

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

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Car Rental Service Market Valuation of US$ 153.4 Billion in 2023 | Report by FMI

The global car rental market is projected to accrue a value of US$ 307.5 billion by 2033, with the demand growing at a healthy CAGR of 7.2% from 2023 to 2033. The market will likely reach an estimated US$ 153.4 billion in 2023.

Substantial growth in the number of people taking business and leisure travel trips is spurring the demand for the car rental market in the forecast period. The widespread access to and use of the internet across developing as well as developed nations have helped enterprises in the market to expand their customer base with the aid of mobile applications. In addition, the subscription model introduced by many market players is expected to contribute to market growth.

Rapid advancements in technology are anticipated to be an essential factor aiding the expansion of the market size. Technologically-empowered web-based solutions like online sales and booking channels enable consumers to rent a car at their convenience and ease. Technological advancements in this sector have improved customer and corporate information management and enabled hassle-free internet bookings. These considerations will supplement the growth of the car rental market.

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Again, the heightened dependency of  consumers on smartphones for carrying out myriad tasks- tasks that were conventionally done by computers- has altered the car rental experience for consumers. This is because swift technological progress has helped enterprises in this sector to introduce various applications that will ensure a smooth booking process for consumers which, in turn, drives global market growth.

The market is also significantly influenced by the introduction of concepts like opaque renting which is a booking platform that allows online customers to offer the value that they will pay for a specific travel-related product or service without knowing the brand beforehand. The brand is only revealed after the consumer makes an online purchase. This concept, thus, enables car rental businesses to grow and use their fleet to their full capacity. This trend is expected to have an immense impact on the car rental services market. Hence, technological advancements in mobile capacities along with advancing web-based media enable the growth of opaque renting which, in turn, drives the overall car rental market growth.

Key Takeaways:

  • Sharp rises in fuel prices will likely serve as an impediment to the global car rental services market.
  • Favorable government initiatives like the implementation of policies regarding the reduction of carbon emissions will likely strengthen market prospects.
  • The car rental market in the US will be driven by the presence of market leaders like The Hertz Corporation.
  • China’s car rental market will dominate the East Asia region with East Asia registering a CAGR of 10.8% from 2023 to 2033.
  • By car type, the economy cars segment will dominate the international marketplace.
  • Based on end-users, the on-airport segment will account for over 40% of the market share.

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Competitive Landscape 

Enterprise Holding Inc., The Hertz Corporation, Localiza-Rent A Car, Sixt SE, and Avis Budget Group, among others, are a few of the significant players in the car rental market profiled in the full version of the report.

In a competitive market, key players are keen on capitalizing on ongoing technological advancements. These organizations make use of web and mobile-based advancements to attract a wider consumer base. Strategic service offerings, mergers, and acquisitions are also employed by these participants to gain a competitive edge. For instance, Localiza Rent A Car SA merged with Car Rental Systems in 2020 to meet strategic guidelines for simplification and administrative and financial rationalization.

More Insights Into Car Rental Market 

In its latest report, FMI offers an unbiased analysis of the global car rental market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. The report offers insights into a ten-year sales prospect, market drivers, opportunities, trends, and challenges. For a better understanding of the global market potential, growth, and scope, the market is segmented on the basis of car type, end-use, booking mode, sector, and region.

As per FMI reports, based on segmentation, the mobile app booking mode will be the most preferred booking segment during the assessment period. This category will register a CAGR of about 8% during this period. In terms of car type, though the economy segment will lead, the intermediate car type will register a significant CAGR of 7.5% from 2023 to 2033. Based on region, East Asia and South Asia will emerge as remunerative pockets for the car rental market. Where the East Asian car rental market will witness a 10.5% CAGR, the South Asian market is expected to undergo a CAGR of 8.8% from 2023 to 2033. This is attributed to the expanding tourism sector in countries like China and India. Other countries like the US and Germany will also contribute to the growth of the car rental market.

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Car Rental Services Market by Category

By Car Type:

  • Economy Cars
  • Compact Cars
  • Intermediate Cars
  • Premium Cars
  • Luxury Cars
  • Others

 By End Use:

  • Intercity
  • Intracity
  • On-Airport
  • Others

By Consumer Type:

  • Business
  • Leisure

By Booking Mode:

  • Offline Access
  • Mobile Application
  • Other Internet Access

By Sector:

  • Organized
  • Unorganized

By Region:       

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

About Future Market Insights, Inc.

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 favor 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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FIDO Authentication Market is expected to grow at high CAGR of 23.1% 2023 to 2033

FIDO (Fast IDentity Online) is an open authentication standard designed to provide secure and convenient authentication for online services. FIDO aims to replace traditional passwords with stronger, easier-to-use forms of authentication, such as biometrics (e.g. fingerprints, facial recognition) and security keys.

The standard is designed to be device and platform-agnostic, allowing for seamless authentication across multiple devices and services. FIDO authentication provides increased security compared to passwords, as the authentication credentials are stored on the user’s device and never shared with the service provider. Key players in the FIDO authentication market include Yubico, Google, Microsoft, and Feitian.

In 2022, the revenue from FIDO authentication solutions reached US$ 1,238.6 Mn. The entire market is anticipated to increase at a CAGR of 23.1% from 2023 to 2033, reaching US$ 12,059.7 Mn. The market’s level of competitiveness will rise as the demand for FIDO authentication solutions keeps growing. According to the FMI projection, the top 5 providers would control roughly 69.4% of the market in 2022. Nearly 15% of the worldwide authentication market is made up of FIDO authentication.

The use of passwords for authentication and identification is no longer necessary thanks to FIDO authentication, which substitutes a number of other methods for quicker and more secure password-less authentication.

The market has FIDO (First Identity Online) Alliance, which could be referred to as one of the non-profit organizations including tech giants like Microsoft, Apple, and Facebook, is pressing for implementing much stronger security, especially when ‘work from home’ is the ‘new normal’. FIDO U2F (Universal 2nd Factor) security key is getting publicized as a security protocol facilitating secured access to Internet users through single physical security key. Trends like these are certainly helping the FIDO authentication market to grow inadvertently in the upcoming period.

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The key players are looking for replacing conventional complex and static passwords with various advanced options of authentication, which are inclusive of PIN and biometrics. Several advantages of FIDO authentication like reduction of costs, standardization, and appropriate authentication are driving incorporation of FIDO authentication solutions all across.

There is a rise in cloud-based resources, remote access, and various mobility solutions; which is compelling the enterprises to go for simple-to-manage solutions to lessen exposure to endpoint attack. Trend of BYOD (Bring Your Own Device) coupled with rise in vulnerability of data against deploying novel applications is also expected to propel the FIDO authentication market. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘FIDO Authentication Market’. The diligent team of analysts and consultants is there to execute. Macros as well as micros are being worked upon.

Key Takeaways from FIDO Authentication Market

· North America holds the largest market share due to the US being subject to rising demand for FIDO-based authentication solutions in several verticals like BFSI, telecommunication, healthcare, and likewise. Also, with hybrid model in place, it’s imperative to outshine privacy and advanced security threats.

· Europe is led by the UK, which is expected to stand tall with aa CAGR of 23.4% in the forecast period. It’s interesting to learn that the economy of the UK is being empowered by platform business models, big data, smartphone technology, advanced analytics, and peer-to-peer networks. Additionally, the governments over here are on a vigil with increasing incidences of terrorist financing and money laundering. The EBA (European Banking Authority) did start prioritizing fraud management for the EU since 2020.

· The Asia-Pacific is led by countries like India, China, and Japan. The FJWG (FIDO Japan Working Group) is created for addressing the growing inclination toward FIDO authentication, especially from stakeholders. India is expected to witness an incredible CAGR in FIDO authentication market (33%) due to the country increasingly using digital certificates and PKI for ascertaining online transactions.

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Competitive Landscape

· Aware, Inc., in January 2021, announced launching AwareABIS. It comes across as one of the automated biometric identification systems (ABIS) used for biometric deduplication and identification. AwareABIS thus expends support to face, fingerprint, and the iris modalities. It also has a modular architecture helping security teams configure and later optimize system for criminal or civil applications.

“With mobile and web applications being increasingly adopted, advanced security solutions are inevitable. This factor is expected to revolutionize the FIDO authentication market”, says an analyst from Future Market Insights.

· FIDO authentication helps in catering to requirement for secured application, that too, without tampering with user convenience.

FIDO Authentication Outlook by Category

By Solution:

· FIDO U2F Authentication Devices (Security Keys)

· FIDO Authentication SDKs

o FIDO Client SDK

o FIDO Server SDK

· Services

o Technology Consulting

o Integration & Deployment

o FIDO Certification Services

o Support Services

By Application:

· Payment Processing

· PKI/Credential Management

· Document Signing

· User Authentication

· Others

By Industry:

· BFSI

· Healthcare & Life Sciences

· IT & Telecom

· Retail & CPG

· Government & Defense

· Energy & Utilities

· Others

By Region:

· North America

· Latin America

· Europe

· East Asia

· South Asia & Pacific

· Middle East and Africa (MEA)

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Authentication Technology Innovation / Development Trends

3.2.1. Single Factor Authentication Technology

3.2.2. Two Factor Authentication Technology

3.2.3. Multi Factor Authentication Technology

3.3. Average Pricing Analysis, By Products

4. FIDO Alliance Overview

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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T: +1-845-579-5705
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Business Analytics BPO Services Market is estimated to grow at an exceptional pace with a CAGR of 13.9% to reach ~US$ 22.9 Bn in 2031

According to the most recent Future Market Insights (FMI) analysis, the global market for business analytics BPO services would be worth US$ 6.2 Bn in 2021. Between 2021 and 2031, the market is anticipated to increase at a CAGR of 13.9%, reaching US$ 22.9 billion.

According to recently released data from FMI, demand for business analytics BPO services is expected to expand by 12.6% year over year in 2021. Although it is anticipated that the manufacturing sector will continue to be the main end user, demand in the BFSI category will increase at a faster rate of 17.6% CAGR throughout the assessment period. In the upcoming years, there will likely be a growth in the need for business analytics BPO services due to the volume of enterprise data and the rising demand for embedded analytics.

Key Takeaways

  • The U.S. is predicted to account for around 86% of the North America market by 2031, supported by the presence of leading market players and increasing outsourcing to emerging countries from BFSI, retail, telecommunication and healthcare sector.
  • Business analytics BPO services market in India is forecast to grow at more than 26% CAGR over the forecast period backed by rapid industrialization and emergence of multiple start-ups in the country.
  • Rising digitalization in small and medium enterprises and incorporation of advanced technical solutions in business processes will drive the sales of business analytics BPO services in U.K. reaching the valuation of US$ 256.9 million by the end of 2021.
  • Increasing demand of business analytics BPO services by small and medium enterprises to acquire and retain customers will drive the market growth in upcoming years.
  • Demand for data analytics & visualization services are estimated to grow at a robust CAGR of 18.6% through 2031.
  • Increasing demand for analytics in financial sector will help the BSFI sector to register remarkable CAGR of 17.6% over the assessment period.

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The business analytics BPO (business process outsourcing) services market refers to the market for outsourcing services related to business analytics. This includes a range of services, such as data analysis, data visualization, and predictive analytics, that are provided by BPO service providers to businesses and organizations.

The demand for business analytics BPO services has been growing in recent years, driven by the increasing need for organizations to make informed decisions based on data-driven insights. Additionally, the increasing adoption of cloud-based business analytics solutions and the growing availability of data are also driving market growth.

The business analytics BPO services market is expected to continue to grow in the coming years, driven by the increasing demand for advanced analytics solutions and the growing need for organizations to remain competitive in an increasingly data-driven business environment. Additionally, the growing need for cost-effective solutions and the increasing trend of outsourcing non-core business functions are also expected to drive market growth.

Competitive Landscape

IBM Corporation, Accenture, Wipro Limited, Capgemini, and Infosys Limited, among others are the leading market players operating this market. FMI states that, they account for more than 60% share in global business analytics BPO services market.

Market players are looking to enter new various developing economies by forming an alliance with regional distributors. They are also focusing on collaborating with regional players to promote innovation and product development along with solidifying their global distribution network.

For instance,

  • Wipro Ltd. recently joined hands with IBM Corporation to design and develop hybrid cloud computing system to assist business manage, migrate and transform mission-critical workloads and applications in IT environments.
  • Accenture PLC completed the acquisition of a data and machine learning business Mudano in February 2020. The acquisition allowed Accenture to upgrade its data transformation and analytics services for financial enterprises in the U.K.

Some of the leading companies operating in the business analytics BPO services market are:

  • IBM Corporation
  • Accenture
  • Wipro Limited
  • Capgemini
  • Infosys Limited
  • Tata Consultancy Services (TCS)
  • HCL Technologies
  • Cognizant
  • Tech Mahindra Limited

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Business Analytics BPO Services Outlook by Category

By Services:

  • Data Analytics & Visualization Services
  • Risk Analytics Services
  • Marketing & Sales Analytics Services
  • Supply Chain Analytics Services
  • Financial Analytics Services
  • Others

By Enterprise Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • BFSI
  • Manufacturing
  • Retail
  • IT & Telecom
  • Government
  • Healthcare
  • Travel & Hospitality
  • Others

By Region:

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

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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

Built-in Large Cooking Appliance Market is Estimated at US$ 12.2 Billion in 2023 | FMI

The global built-in large cooking appliances market is projected to amass a revenue of US$ 21.8 billion by 2033, rising from US$ 12.2 billion in 2023. The market is set to record a moderate CAGR of 5.9% from 2023 to 2033.

This market is primarily driven by the increasing disposable income of consumers across the globe. With growing disposable income levels, more and more consumers are inclined to purchase advanced and innovative products such as built-in large cooking appliances. Further, the introduction of smart home appliances and energy-efficient devices will have a positive impact on the global sales of the built-in large cooking appliances market.

Historically, the market recorded a CAGR of 4.5% from 2018 to 2022 and will grow at a restored 5.9% for the upcoming decade. This growth can be attributed to the availability of improved quality goods at lower costs. In addition, the elevated popularity of smart kitchen appliances, better availability of the same appliances and quality products at affordable prices, constant technological advancement, and growing demand for kitchen appliances owing to increasing population are some of the other factors that drive the built-in appliances market.

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Again, marketing strategies adopted by market players including social media marketing will generate new opportunities for the built-in appliances market in the upcoming years.

The market is significantly influenced by the accelerated demand for energy-efficient appliances. Moreover, favorable government policies and initiatives that aim at promoting the adoption of energy-efficient tools will open new avenues of growth for the market players. Increasing demand for smart homes is also expected to strengthen market prospects.

For example, Samsung Electronics announced a sustainable development plan in 2022 that aims at accelerating the development of environmental-friendly home appliances by increasing the use of recycled plastic in home appliances. Furthermore, the changing retail landscape is also aiding the growth of the built-in large cooking appliances market. Modern retail formats like malls and hypermarkets have amplified market sales with an increase in consumer walk-ins. The introduction of state-of-the-art appliances for integrated kitchens also encourages the growth of the built-in large cooking appliances market.

Key Takeaways:

  • Greater consumer awareness of green technology will drive the growth of the built-in large cooking appliances market in the US.
  • Rising demand for high-end domestic products due to rising living standards will propel the built-in large cooking appliances market forward in China.
  • By product type, built-in cooktops will dominate the global marketplace owing to rapid urbanization and the popularity of western kitchen styles.
  • Based on application, the commercial segment will account for a significant portion of the market share.

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Competitive Landscape 

Robert Bosch GmbH, Samsung Electronics, Morphy Richards, LG Electronics Inc., Whirlpool Corporation, Hitachi Appliances Inc., and Haier Group Corporation, among others, are a few of the eminent participants in the built-in large cooking appliances market profiled in the full version of the report.

In a competitive environment, prominent market players are keen on product development and upgradation. These businesses also focus on launching novel and innovative products. Many of these participants integrate advanced technology into their products and increase their research and development efforts to produce new products that will offer the benefits of Artificial Intelligence and the Internet of Things (IoT). For instance, Robert Bosch GmbH’s Gaggenau luxury home appliances enable consumers to save up to 50 recipes for regularly prepared dishes and also offer smartphone control options.

More Insights Into Built-In Large Cooking Appliances Market 

FMI offers an unbiased analysis of the global built-in large cooking appliances market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. Its latest report offers an in-depth study of a ten-year sales prospect, market drivers, challenges, trends, and opportunities. For a better understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, sales channel, and region.

According to the report, based on segmentation, the online sales channels will gain traction during the assessment period. This sales channel is highly preferred by consumers in the residential sector owing to the convenience and affordability offered by the segment. In terms of application, the commercial category will dominate the global market owing to the high demand created by restaurant owners. Based on the country, China will emerge as a high-potential market for built-in large cooking appliances.

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The target market in this region will reach a significant value by the end of 2033. Increasing demand for high-end products from the domestic sector owing to rising living standards, adoption of advancing technology, and demand for functional but quality products will drive the market in China. The US and India will also present notable growth in the market and thereby contribute significantly to the global growth of the built-in large cooking appliances market.

Built-In Large Cooking Appliances Market By Category

Product Type:

  • Built-in Cooktops
  • Built-in Ovens
  • Others

By Application:

  • Commercial
  • Residential

By Sales Channel:

  • Wholesalers/Distributors
  • Multi-Brand Stores
  • Specialty Stores
  • Hypermarket/Supermarkets
  • Online Retailers
  • Other Sales Channel

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa (MEA)

About Future Market Insights, Inc.

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 favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Fiber Optic Gyroscope Market is estimated to grow at 8.3% CAGR by 2031

The fibre optic gyroscope (FOG) market demand prognosis is expected to continue favourable, according to Future Market Insights (FMI), with sales expected to exceed US$ 1,413.2 Mn by 2021. In 2021, the market will expand at a compound annual growth rate of 6.5% due to continued use in military and defence applications for missile flight control, dynamic GPS tracking, and ground detection.

Applications for fibre optic gyroscopes in the military and defence industry are expected to grow at a 7.4% CAGR due to their advantages over competing technologies in terms of cost, dependability, and complexity. In addition, the market is anticipated to pick up steam as applications for remotely automated vehicle guiding technologies grow at a remarkable rate.

The fiber optic gyroscope (FOG) market refers to the market for devices that use fiber optic technology to measure angular velocity. FOGs are widely used in various applications such as navigation, guidance, and control systems in a range of industries, including aerospace, defense, and industrial automation.

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Key Takeaways from Fiber Optic Gyroscope Market Study

  • In North America, the U.S. is expected to dominate the market, accounting for a market share of over 82% in the region through 2031.
  • Owing to increasing adoption of advanced technologies in defense sector, the market in the U.K. is estimated to grow at a CAGR of 12% over the forecast period.
  • India is likely to account for above 54% of the market share in South Asia and Pacific, growing at a CAGR of 13.5% by 2031.
  • Based on sensing axis, 3-Axis will emerge dominant, accounting for a market share of over 42.5% by the end of 2031.
  • Inertial navigation systems are anticipated to contribute a revenue share of around 44.5% in the global market through 2021.

The demand for FOGs has been increasing in recent years due to their high accuracy, low drift, and immunity to magnetic fields. Additionally, the miniaturization of FOGs has made them suitable for use in smaller and lighter devices, which has further increased their adoption.

The FOG market is expected to continue to grow in the coming years, driven by the increasing demand for precision navigation systems in the aerospace and defense industries. Additionally, the growing demand for advanced control systems in the industrial automation industry is also expected to drive market growth.

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Competitive Landscape

Companies operating in the fiber optic gyroscope market are focusing on developing innovative products and forging strategic partnerships with other manufacturers to expand their production and increase the market share.

  • FIBERPRO, a South Korea-based company, launched its new Fiber Optics based Single Axis Gyroscope named, FI 150 in June 2020. The product is able to stabilize the specific attitude of a moving system which can be used in weapons systems, cameras, telescopes, and many more.
  • In June 2020, KVH industries, announced a launch of P-1775 Inertial Measurement Unit (IMU) featuring its new Inside Photonic Integrated Chip (PIC) technology. The technology that upgrades the inertial sensor performance and reliability for the growing autonomous market.

Some of the key players operating in the fiber optic gyroscope market profiled by FMI are:

  • KVH Industries, Inc.
  • EMCORE Corporation
  • FIBERPRO, Inc.
  • Saab
  • Honeywell
  • Tamagawa Seiki Co., Ltd.
  • Optolink
  • NedAero Components B.V
  • iXblue
  • Fizoptika

Fiber Optic Gyroscope Market by Category

By Sensing Axis:

  • 1-Axis
  • 2-Axis
  • 3-Axis

By Device:

  • Fiber Optics Gyrocompass
  • Inertial Measurement Units (IMUs)
  • Inertial Navigation Systems
  • Others

By Application:

  • Aeronautics and Aviation
  • Robotics
  • Remotely Operated Vehicle Guidance
    • Unmanned Underwater Vehicle (UUV)
    • Unmanned Ground Vehicle (UGV)
    • Unmanned Aerial Vehicle (UAV)
  • Military & Defense
  • Industrial
  • Others

By Region:

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

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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

Radar & LiDAR Technology for Railways Application Market to register a CAGR of 9.6% by 2031

By 2031, the market for radar and LiDAR technology used in railway applications is projected to be worth US$4.98 billion. Rising investment in the creation of autonomous railway systems along with rising demand for radar and LiDAR technology sensors in nations like India and Indonesia are projected to propel the market.

Rail applications heavily rely on radar and LiDAR technology. These technologies can be used to track railroad track problems, prevent rail collisions, detect pedestrians, track and regulate trains, among other things. Object detection on the railroad tracks and train traffic control are the two main uses of radar systems. In contrast, surveys are carried out using LiDAR technology sensors to learn more about the railway.

Radar (Radio Detection and Ranging) uses radio waves to detect and determine the range, angle, and velocity of objects. It is commonly used for train detection and train control systems, such as preventing trains from colliding and ensuring safe speeds.

LiDAR (Light Detection and Ranging) uses laser light to measure the distance to an object. LiDAR systems can create high-resolution 3D maps of the surrounding environment, making them useful for railway infrastructure inspections, track surveys, and obstacle detection.

Both Radar and LiDAR have unique advantages and limitations, and the choice between the two depends on the specific application and requirements.

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How will the market be impacted by the growing use of mobile LiDAR systems?
Three different equipment platform types—ground-based stationary, mobile, or aerial—can be used to capture LiDAR data. The best method for gathering data for closed-range applications is to use ground-based LiDAR devices. Mobile LiDAR scanners give comprehensive, precise, and feature-rich data at driving speeds, which is very helpful for tracking train movements while they are moving along tracks.

To run on the track and survey the area around it, a mobile LiDAR device is installed on a car or train locomotive. Because mobile LiDAR can deliver measurements at a rate of up to 1.1 million per second, it is ideal for mapping rail corridors. Consequently, it has emerged as a crucial tool for railways.

Radar & LiDAR Technology for Railways Application Market – Competition Landscape

Companies operating in the market rely on various expansion strategies to increase their penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions and strengthening of regional and global distribution networks. For instance:

In July, 2020, Bosch introduced New LiDAR Sensor. The new sensor can measures the distance between target objects by illuminating them with laser light and measuring the reflected pulses. The LiDAR can detect range of 250 meters and recognize up to 24 objects at the same time. This new sensor used in railways application for the safety purpose.

FMI has profiled the following prominent Radar & LiDAR technology for railways application providers in its report:

  • Radarxense BV
  • Radar Vision
  • Earth Radar Pty Ltd
  • Bosch Mobility Solutions
  • Navtech Radar
  • ELVA-1
  • DEUTA-WERKE GmbH
  • Hupac Intermodal
  • BlackBerry Limited
  • Leica Geosystems AG
  • Trimble Inc.

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Key Segments Covered in the Radar & LiDAR Technology for Railways Application Market

Radar Technology

  • Radar Sensor Modules
    • Speed Measurement Radar Sensors
    • Distance Measurement Radar Sensors
  • Service
    • Integration & Installation Services
    • Support Services

LiDAR Technology

  • Devices
    • Mobile LiDAR Scanners
    • Aerial LiDAR Drones
    • On-board LiDAR Sensors
  • LiDAR Processing & Mapping Software
  • Services
    • LiDAR Survey & Mapping Services
    • Consulting Services
    • Support Services

Application

  • Railway Track Faults Detection
  • Rail Collision
  • Pedestrian Detection
  • Train Tracking & Control
  • Others

Region

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

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Innovation / Development Trends

3.3. Key Success Factors

4. Pricing Analysis

4.1. Pricing Analysis, By Devices of Radar and LiDAR Technology

4.2. Global Average Pricing Analysis Benchmark

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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

 

Marine Communication Market is estimated to grow at an exceptional pace with a CAGR of 7.8% to reach ~US$ 9.3 Bn in 2032

The market for maritime communication worldwide is now estimated to be worth $4,420.7 million in 2022, and it is predicted to grow at a CAGR of 7.8% to reach $9,351.4 million in 2032. Globally, the marine communication sector accounts for around 25% of the marine electronics market. Ship-to-ship and ship-to-shore communication can be solved by marine communication. This is crucial for activities involving ship navigation, such as cargo handling and ship operation.

The demand for high-quality, secure, and dependable marine communication products, such as maritime satellite phones and internet devices, automatic identification systems (AIS), vessel monitoring system (VMS) terminals, marine radars, and marine radio devices, is expected to increase due to the need for better connectivity between land and sea operations.

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Key Takeaways: Marine Communication Market

· By product, the marine radio devices segment is anticipated to account for the leading share in the global marine communication market. However, the maritime sat phone & internet devices segment is estimated to grow at a robust CAGR of 10.9% through 2032.

· By application, the adoption of marine communication in recreational vessels segment is anticipated to increase at a CAGR of 10.5% between 2022 & 2032.

· The rise in popularity of recreational boating worldwide is expected to increase the adoption of marine communication systems.

· Among regions, South Asia & Pacific marine communication market is estimated to register high CAGR, owing to the increasing demand of maritime digital data services in the region.

· In Japan, sales are expected to increase at a CAGR of close 11.3% over the next ten years.

“With the advancement in digital data services, marine communication service vendors need to make numerous updates into their pre-existing communication technologies, in order to upgrade the industry and ensure maximum productivity,” says FMI analyst.

The marine communication market refers to the market for communication systems and services that are used in the maritime industry. This includes systems for both ship-to-ship and ship-to-shore communication, as well as satellite and other wireless communication technologies.

The market for marine communication has been growing in recent years, driven by the increasing need for reliable and efficient communication systems in the maritime industry. This is due to factors such as the growing global trade, the increasing number of shipping vessels, and the need for improved safety and security at sea.

The marine communication market is expected to continue to grow in the coming years, driven by the increasing demand for high-speed internet connectivity on ships, the increasing number of cruise ships, and the growing use of autonomous ships. Additionally, the market is expected to be driven by advancements in technology, such as the increasing use of 5G technology, which will provide faster and more reliable communication systems.

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Advent of 5G in Sea Communication and Unmanned Boat to Shape Future Outlook

Internet at sea has become a necessity for yachts with Captains and Electro Technical Officer (ETO’s) carefully considering satellite and mobile data options. With a rise in the number of marine internet service providers, the emergence of 5G in marine industry is growing with significant pace. The advent of 5G has bought major developments in satellite systems. Satellite systems is promising a completely different outlook in terms of offshore connectivity.

Many players in the sector are investing in the launching of satellite constellations into Low Earth Orbit (LEO). Located between 500 km and 2000 km above the Earth’s surface, these satellites fly in coordinated groups and, unlike their predecessors, they are moveable. Moreover, the various tech companies are introducing unmanned boats that is equipped with 5G Continuing Professional Education (CPE) terminal and 360-degree 4K camera, pushing real-time images and videos of ocean and river for monitoring water quality through fast speed 5G network. The camera could capture the water environment in areas where are inaccessible to human eyes and the small speaker installed on the hull could convey pre-recorded messages to people around.

For instance, in April 2019, ZTE Corporation and China Mobile have jointly launched “Heweitong”, a marine broadband satellite solution that seamlessly extends the mobile network to the ocean, creating a new era of marine communication.

Marine Communication Outlook By Category

By Product, Marine Communication Demand is segmented as:

  • Marine Radio Devices
    • Fixed-Mount VHF Marine Radios
    • Handheld Marine VHF Radios
    • MF/HF Radios
  • Marine Multifunction Displays (MFDs)
  • Automatic Identification Systems (AIS)
    • AIS Transponders
    • AIS Receivers
  • Vessel Monitoring System (VMS) Terminals
  • Marine Radars
  • VHF Data Exchange System (VDES)
  • Maritime Sat Phone & Internet Devices
  • Others

By Service, Marine Communication Outlook is segmented as:

  • Consulting Services
  • Integration & Installation Services
  • After-Sales Support & Maintenance Services

By Application, Marine Communication Outlook is segmented as:

  • Fishing Boats/Vessels
  • Merchant Ships
  • Recreational Vessels
  • Working Vessels
  • Others

By Region, Marine Communication Sales is segmented as:

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

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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

Semiconductor Wafers Market to reach a valuation of US$ 31.41 Bn by 2030 | Future Market Insights, Inc.

The semiconductor wafer market refers to the industry involved in the production of thin disks of semiconducting material, such as silicon, used to fabricate integrated circuits (ICs) and other microelectronic devices. Semiconductor wafers serve as the foundation for the microchips that power a wide range of electronic devices, including smartphones, laptops, and servers. The market is driven by the increasing demand for electronic devices and the growth of the internet of things (IoT) and artificial intelligence (AI) industries. Key players in the market include Samsung, TSMC, Intel, GlobalWafers, and SUMCO.

The global market for semiconductor wafers is currently valued at US$ 20.19 billion and is expected to grow at a CAGR of 5.7% to reach US$ 31.41 billion by the end of 2030. In 2021, sales of semiconductor wafers represented 12% of the worldwide semiconductor market. The semiconductor wafer, which continues to be a crucial component of many microelectronic devices, is said to be the foundation of the electronics industry by Future Market Insights. Numerous devices use electronic mobility and digitization as they are the two dominant technical developments at the moment.

Competitive Landscape

Prominent vendors of semiconductor wafers rely on a combination of strategies, ranging from technological advancements, product launches, and collaborations to expansion of manufacturing & research capacities to penetrate a wider customer base.

For instance,

  • In August 2020, Applied Materials Inc. launched the SYM3® Y Etch System for application across the 3D NAND, DRAM, and foundry-logic nodes. The device leverages innovative radiofrequency pulsing technology to provide extremely high material selectivity, depth control, and profile control.

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Key Companies Profiled

  • Applied Materials Inc.
  • ASM International
  • Nikon Corporation
  • Hitachi High-Technologies Corporation
  • ASML Holding N.V.
  • Tokyo Electron Limited
  • KLA Corporation
  • Lam Research Corporation
  • Global Foundries
  • Global Wafers
  • Siltronics
  • Sumco

The Semiconductor Wafers market refers to the industry that produces and sells semiconductor wafers, which are the base material used in the manufacture of semiconductor devices, such as integrated circuits (ICs) and microprocessors. Semiconductor wafers are made from a variety of materials, including silicon, gallium nitride, and silicon carbide. These wafers are then used to manufacture a wide range of devices, including transistors, diodes, and solar cells, among others. The market for semiconductor wafers has grown rapidly in recent years due to the increasing demand for semiconductor devices in a variety of applications, including consumer electronics, automotive, and telecommunications.

The semiconductor wafers market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into silicon, silicon on insulator, germanium, and others. On the basis of application, the market is segmented into electronics, automotive, aerospace, energy, and others. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The key players in the Semiconductor Wafers market include the major players such as Shin-Etsu Chemical Co., Ltd, Sumco Corporation, Siltronic AG, SK Siltron, and many others.

The market is expected to continue growing in the coming years due to the increasing demand for advanced semiconductor devices, rising adoption of IoT and connected devices and expanding applications of semiconductors in various fields such as automotive, healthcare, and renewable energy .

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Semiconductor Wafers Industry Survey

Semiconductor Wafers Market by Wafer Size:

  • Less than 150 mm Semiconductor Wafers
  • 150 to 200 mm Semiconductor Wafers
  • More than 200 mm Semiconductor Wafers

Semiconductor Wafers Market by Application:

  • Automotive
  • Consumer Electronics
  • Industrial Manufacturing
  • Telecommunications
  • Others

Semiconductor Wafers Market by Region:

  • North America Semiconductor Wafers Market
  • Latin America Semiconductor Wafers Market
  • Europe Semiconductor Wafers Market
  • East Asia Semiconductor Wafers Market
  • South Asia & Pacific Semiconductor Wafers Market
  • Middle East & Africa (MEA) Semiconductor Wafers Market

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting Market

3.2. Innovation & Development Trends

3.3. Key Success Factors

4. Pricing Analysis

4.1. Average Pricing Analysis

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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

Book Publishers Market is Predicted to Expand at a Slow CAGR of About 3.9% from 2023 to 2033

The global book publishers market is predicted to expand at a slow CAGR of about 3.9% from 2023 to 2033. The target market will reach an evaluation of US$ 141.7 billion by 2033 as opposed to US$ 96.1 billion in 2023. Factors such as expanding e-commerce and online retail channels along with high demand for all types of books are responsible for the growth of the book publisher market in the forecast period.

E-commerce giants like eBay and Amazon have established easy and convenient platforms for people to buy and sell books. In addition to this, the penetration of online book clubs and communities, the advancement of offline business, and partnerships between leading book publishers and local booksellers will further drive the book publishers market.

Recent years have witnessed a surge in the number of book and reading enthusiasts that has propelled the demand for several types of books including educational, fictional, non-fictional, and many others. This has resulted in higher sales of books among a large part of the global population. Further, booking reading is also taken up by more and more people across the globe as a part of their relaxation routine or just as a hobby.

These factors are expected to aid the expansion of the book publishers market size. Again, reading also helps in building social connections, both online and offline which promotes social mobility. It also helps with overall mental well-being. These aspects are pushing people towards reading which, in turn, improves the sales prospect of the book publishers market.

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Increasing demand for books among the millennial and Gen-Z population will also contribute to the global growth of the book publishers market. The younger generations are picking up reading as a hobby or as a part of their routine which is expected to amplify the global demand for books and contribute to the growth of the book publishers market.

Moreover, the growing popularity and rapid adoption of the print-on-demand (POD) business model will open new avenues of growth for the market. The POD model refers to the printing of a book or a journal only after an order is secured. This process saves investment and avoids the hassle of inventory management which prompts its rising adoption across various businesses. Where these factors aid the growth of the book publishers market, increasing copyright infringement will likely stymie the growth of the market.

Key Takeaways:

  • Increasing internet usage has resulted in illegal file sharing and a higher piracy rate. The consequent copyright infringement affects both the publishers’ interests and the viability of companies which acts as an impediment to market growth.
  • The book publishers market in the US will grow at a 2.0% CAGR, driven by innovative growth strategies adopted by book publishers of the country.
  • Germany accounted for a 21% share of the European book publisher market in 2021 and the market in this country will continue to grow during the forecast period owing to increasing reading enthusiasts.
  • By book type, the fiction segment held 23.4% of the market share in 2022 and will continue to dominate the global marketplace.
  • Based on sales channels, the local bookshops and specialty stores accounted for 32.4% market revenue share in 2022.

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Competitive Landscape 

In a competitive environment, market players are concentrating on employing various business and marketing strategies. A significant portion of market players deploy three primary steps to retain relevancy and these are cost leadership, differentiation focus, and cost focus.

Harper Collins Publishers, MacMillan publishers, IDW Publishing, MARVEL, Pearson, Morris Publishing, Penguin Random House, Scholastic Inc., and Houghton Mifflin Harcourt, among others, are some of the significant players in the book publishers market profiled in the full version of the report.

More Insights Into Book Publishers Market 

FMI offers an unbiased analysis of the global book publishers market in its latest report, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. This report further offers insight into market drivers, restraints, trends, and opportunities. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of type, sales channel, and region.

As per FMI estimations, based on segmentation, the fiction books segment will likely continue to dominate the international market space. These are the most interesting and popular books among readers. In terms of sales channels, the local bookshops and specialty stores will account for a significant portion of the market revenue. Based on country, the US will present considerable growth in the book publishers market. The target market is primarily driven by the strong presence of independent publishers, increasing demand for comics, and strategies employed by market players. Germany and India will also contribute to the global growth of the book publishers market.

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Global Book Publishers Market by Category

By Books Type:

  • Cookbooks
  • History
  • Science Friction & Fantasy
  • Religion & Inspiration
  • Fiction
  • Mystery
  • Romance
  • Others (Horror, Comic, Biographies etc.)

By Sales Channel:

  • Wholesalers/Distributors
  • Hypermarket/Supermarket
  • Multi Branded Stores
  • Independent Small Stores
  • Online Retailer

By Region:

  • Supermarket/Hypermarket
  • Retail Shops
  • Specialty Stores
  • Online Retailers
  • Other Sales Channel

About Future Market Insights, Inc.

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 favor 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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