Biomass Pellets Market Projected to Exhibit an Impressive CAGR of 6.7% from 2023 to 2033

As per FMI, the entire biomass pellet market is driven by a market shift towards biodegradable products. Increasing use of the wood biomass pellet also contributes to this growth of the market. Rising from US$ 9,739.1 million in 2021, the target market reached a valuation of US$ 10,270.9 million in 2022. This growth can be attributed to a surge in demand for biomass pellets for heating purposes in commercial, residential, and industrial sectors. It is projected that the global biomass pellets market will amass revenue of US$ 20,409.2 million by 2033, with sales growing at a favorable CAGR of 6.7% from 2023 to 2033.

Historically, the biomass pellet market witnessed a poor CAGR of 2.5% from 2017 to 2021 but it is predicted that the market will overcome this slump and record steady growth during the forecast period. An upsurge in public awareness about sustainability and environmental preservation has resulted in a spike in the demand for biofuels and other renewable energy sources like solar and wind energies. Thus, escalating demand for clean energy all over the world will aid the expansion of the biomass pellets market in the upcoming years. North America and Europe will contribute considerably to the market due to elevated demand for clean energy while East and South Asia will emerge as the fastest growing region in this market owing to rapid development in countries like India, China, Japan, and others.

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Depleting resources has resulted in incredibly high prices of conventional energy with the potential for a further spike in prices. Owing to this, the demand for crude oil has exceeded its supply rate. The cost of natural gas, diesel, and petrol is also increasing. These factors make it a necessity for economies to diversify their energy resources and increase their use of biofuels rather than traditional fuels. This aspect acts as a key driver for the market for biomass pellets during the projection period. However, high competition and lack of availability of good quality woods- the most preferred type of biomass pellets by industrialists- are certain factors that will stunt the growth of the biomass pellets market.

Key Takeaways:

  • Favorable government initiatives across the globe will strengthen the prospects for the biomass pellets market.
  • Increasing demand for renewable energy will drive the growth of the biomass pellets market in the US.
  • Stringent environmental regulations will aid the market expansion of biomass pellets in the U.K.
  • Based on end-use, the industrial heating segment will prove to be a significant revenue stream for the biomass pellets market.
  • By source, the agricultural residue segment will gain rapid traction during this period.

Competitive Landscape 

In a competitive environment, significant market players are concentrating on increasing research and development efforts to enhance their product portfolio. These companies employ various organic and inorganic strategies to gain a competitive advantage. In a recent development, in November 2021, Enviva, Inc., signed a long-term collaboration with J-Power, a Tokyo-based utility enterprise, for a large-scale supply of sustainable wood biomass from Enviva’s facilities in the US to J-Power’s coal-fired plants in Japan.

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Drax, Enviva Inc., AS Graanul Invest, Zilkha Biomass Energy, LLC, Subham Industries, Premium Pellets Ltd, Fram Renewable Pellets, Rentech, Inc., and MVM Bio Green Energy, among others, are some of the important players in the biomass pellets market profiled in the full version of the report.

Biomass Pellets Market by Category

By Source:

  • Agriculture Residue
  • Wood Sawdust
  • Others

By End Use:

  • Power Generation
  • Industrial Heating
  • Commercial and Domestic Heating
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

More Insights Into Biomass Pellets Market 

FMI’s most recent report presents an impartial assessment of the worldwide biomass pellets market, incorporating historical data from YY to YY and projected figures from XX to XX. The report provides a comprehensive analysis of the market’s sales forecast for the next ten years, as well as an overview of market drivers, restraints, trends, and opportunities. The report divides the market into several segments based on source, end-use, and region, in order to comprehend the global market potential, growth, and scope.

According to the latest FMI reports, based on segmentation, the industrial heating segment will dominate the global marketplace on the basis of end-use. As biomass pellets can effectively replace coal in industrial boilers, they gain extensive use in industrial heating purposes. In terms of source, agricultural residue will remain a preferred choice during the assessment period. Based on the country, the biomass pellets market in the US will exhibit impressive growth between YY and YY. In 2022, the target market expanded by 5.1% in this country. High energy consumption and growing demand for renewable energy will drive the growth of the biomass pellets market in the US. The U.K, India, China, and Japan will also aid the growth of the global biomass pellets market.

About FMI

Future Market Insights (ESOMAR certified 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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Europe Advanced Aerospace Coatings Market 2022 – Future Plans and Industry Growth with Quantitative and Qualitative Analysis

Increasing demand for efficient and lightweight advanced aerospace coatings is expected to be a major factor driving the demand for advanced aerospace coatings in the Europe market during the forecast period. The Europe advanced aerospace coatings market was valuated at just-over US$ 390 million in 2018, which is anticipated to register the CAGR of 4.9% through 2028.

The report provides comprehensive information on market trends, value (US$ Mn) and volume (‘000 Li), competition, recent developments and dynamics in Europe advanced aerospace coatings market for the duration between 2018 and 2028.

Rising Aircraft Production & Expanding Fleet Size Continues to Generate Sustained Demand for Advanced Aerospace Coatings in Europe
Europe’s increasing air passenger traffic has been leading to an increase in the demand for commercial aircraft. This, in turn, has been leading to an increase in the production of commercial aircraft. The growth of the advanced aerospace coatings market is directly dependent on the total aircraft production and the fleet size.

Rising production and sales of aircraft, particularly in developing countries within the region are anticipated to create noteworthy opportunities in Europe’s advanced aerospace coatings market. Increasing aircraft deliveries by leading manufacturers such as Airbus and Boeing are underpinning substantial additions to the existing aircraft fleet size of Europe.

Progressing Scenario within MRO Segment to Majorly Influence Europe’s Advanced Aerospace Coatings Market Growth

As the number of aircraft that are in service is increasingly constantly, the report prompts at the subsequent rise in demand for maintenance, repair, and overhaul (MRO) of various aircraft parts, components, and vital systems. This, according to FMI, will trigger the revenue growth of MRO sales channel within Europe’s advanced aerospace coatings market during the forecast period.

The MRO sales channel of commercial segment of the Europe advanced aerospace coatings market is projected to grow at a 5.9% value CAGR during the forecast period. Increasing fleet size of commercial as well as business aircraft and high demand for customized exteriors are some of the other factors driving the growth of the advanced aerospace coatings MRO sales channel.

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Aftermarket Sales of Advanced Aerospace Coatings in Europe to Gain Uptick with Soaring Demand for Leased Aircraft

An aircraft, being one of the most expensive commodities, a number of small airline carriers prefer to lease from major players. While leasing of aircraft helps these airline carriers avoid high capital investments, they generally tend to renovate the entire aircraft before putting it into operation. The entire aircraft cabin is renovated according to specific requisites of respective airline carriers and their customer demands.

More often, a leased aircraft is coated with multiple paints and colors, highlighting the symbol and logo of particular airlines. According to the report, increasing rate of aircraft leasing will continue to push the growth of advanced aerospace coatings market in Europe.

Rapid Sales of Advanced Aerospace Coatings Continue to Suffer from Relatively Gradual Growth of European Economies, Post Crisis

Post the financial crisis, economic growth has slowed down, as compared to the growth registered prior to the financial crisis. Wage growth has been weak and most of the industrial work has been outsourced to emerging economies, which has made industrial investment in developed economies weak. This, in turn, has been restraining the growth of the advanced aerospace coatings market.

Democratic uprisings, such as the Arab Spring, economic sanctions against Russia and the involvement of Ukraine in a proxy war, have pushed many countries into an economic turmoil. The market in these nations has been deteriorating exponentially and in recent times, these markets have been exhibiting a moderate growth scenario. Due to the economic crisis, the purchasing in these countries has come down drastically and subsequently, the demand for advanced aerospace coatings has suffered.

Advanced Aerospace Coatings Market – Competition Landscape

The Europe advanced aerospace coatings market is consolidated with the top two market players (Akzo Nobel and PPG Industries Inc.) accounting for double-digit market shares as of 2017. The top ten players in the Europe advanced aerospace coatings market are projected to collectively account for between a 50% and 60% market share.

In the recent past, the advanced aerospace coatings market has witnessed significant improvements from a competition perspective. Acquisitions, collaborations and expansion of production capacity are some of the key strategies being adopted by market players to expand and sustain in the Europe advanced aerospace coatings market.

  • Praxair, Inc. and GE Aviation opened a new facility in the U.S. for their PG Technologies business that specializes in advanced coatings and enables jet engines to withstand high stress and temperatures
  • PG Technologies Ltd. announced that it intends to add a new additional coating capacity in Singapore to meet the ever-increasing demand from the aviation industry
  • Akzo Nobel opened a specialty coatings facility in Dongguan, China, primarily for the production of advanced aerospace coatings for South and North Asia aviation markets

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Europe Advanced Aerospace Coatings Market: Segmentation

By Product Type

  • Primer
    • Epoxy
    • Polyurethane
    • Others
  • Topcoat
    • Epoxy
    • Polyurethane
    • Others
  • Solvent
  • Ceramic Coatings

By Application

  • Interior
  • Exterior

By End Use

  • Commercial
    • OEM
    • MRO
  • General & Business
    • OEM
    • MRO
  • Military
    • OEM
    • MRO

By Country

  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Russia
  • NORDICS
  • Rest of Europe

Key Questions Answered in the Advanced Aerospace Coatings Market Report

  • How has the advanced aerospace coatings market evolved over the past four years?
  • What are some of the prevailing market dynamics in the advanced aerospace coatings market?
  • What shape is the advanced aerospace coatings market expected to take in terms of volume and value during the study period?
  • What are the competition developments and trends in the advanced aerospace coatings market?
  • What are the important key challenges, opportunities and improvement factors for advanced aerospace coatings market players?
  • What are some of the underlying macro-economic and industry factors impacting the growth of the advanced aerospace coatings market?
  • What are some of the important market positioning and key strategies of key advanced aerospace coatings manufacturers as per the market taxonomy?
  • How is the competition structured at present and how has it evolved in the advanced aerospace coatings market over the past few years?

About FMI

Future Market Insights (ESOMAR certified 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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Tire Materials Market Exhibiting Growth at a CAGR of 4% during the forecast period, 2028

Suspension of automotive production in many parts of the world, coupled with declining activity in the aftermarket are hurting short term growth. The tire materials market is expected to display a moderate 4% CAGR through the end of the projection period between 2022 and 2028. The impact of the coronavirus outbreak has been negative on the tire repair materials market. However, with the large existing vehicle population, demand for tire repair materials such as sealants and patches are expected to keep the industry afloat through the crisis.

“Tire manufacturers are pushing for cost cutting and monetary saving strategies involving materials input costs. Choosing between sustainability with natural rubber, against conventional synthetic rubber materials will have a large bearing on near future market developments, including that of the tire repair materials market,” says the FMI study.

Tire Materials Market – Important Takeaways

  • Synthetic rubber elastomers such as styrene butadiene rubber are highly popular for tire production owing to high resistance to wear and rolling.
  • Radial repair materials are expected to contribute substantially to revenue on the back of efficacy from heat and chemical cure options.
  • Asia pacific is a fast-growing, dominant market for tire materials supported by the burgeoning regional automotive industry, led by China as a major tire producing market.

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Tire Materials Market – Driving Factors

  • Growth of the automotive aftermarket, particularly in ASEAN countries has contributed to sales of tire repair materials.
  • The transition towards hybrid and electric vehicles in the near future will generate lucrative growth opportunities for manufacturers.
  • Favorable government policies and investments into improving fuel efficiency will provide impetus to the market.

Tire Repair Materials Market – Leading Constraints

  • Environmental concerns associated with the improper disposal of tires is a major obstacle to market growth.
  • Consumer bias towards new tires and the resultant reduction in used tire sales hurt prospects of tire repair materials.

Expected Impact on Market by Coronavirus Outbreak

The tire materials market is expected to witness a short-term slump during the coronavirus pandemic. Government imposed suspension of activity in the automotive industry internationally has reduced demand for tires and associated materials. The decline in aftermarket activity during this period has also negatively influenced market players. Recovery is likely to be slow even as automotive OEMs restart operations, as buyers remain hesitant to invest in vehicles with a atmosphere of global economic uncertainty.

Competition Landscape

Some of the leading players participating in the tire materials market are Evonik Industries AG, Solvay SA, Birla Carbon, Lanxess AG, Cabot Corp., Exxon Mobil Corp., and JSR Corp.

Players in the tire materials market are investing in research & development efforts for new material options largely focusing on sustainability and energy efficiency in use and production processes.

For instance, JSR Corp. has unveiled its HPR9 series of high-performance tire material as a part of its ultra-fuel-efficient summer tire portfolio. Goodyear has announced a new project for the development of tires from soybean oil for sustainable production. Wastefront has revealed its intention to build a tire recycling plant in the UK to extract hydrocarbons and carbon black for reuse.

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Tire Materials Market by Category

By Material Type:

  • Natural Rubber
  • Synthetic Rubber
    • Styrene Butadiene Rubber (SBR)
    • Poly Butadiene Rubber
    • Butyl Rubber
  • Fillers
    • Carbon Black
    • Silica
  • Process Chemicals
    • Antidegradants
    • Accelerators
    • Oils
  • Steel Cords
  • Textile Cords

By Tire Types:

  • Solid Tire
  • Pneumatic Tire
    • Tubeless
    • Tubed
  •  Retreated Tires

By Vehicle Types:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Wheelers

By Region:

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

More on the Report

FMI provides in-depth insights on the Tire repair material market. The market is segmented in terms of material type (natural rubber, synthetic rubber, fillers, process chemicals, steel cords, and textile cords), tire type (solid, pneumatic, and retreated), vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and two wheelers) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

About 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 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:

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Residential & Commercial Smart Glass Market – Business Opportunities and Global Forecast to 2028

Residential and commercial smart glass worth approximately US$ 14 billion will be sold by the end of 2028. Up from the market value attained in 2018, the global sales of residential and commercial smart glass are estimated to observe a substantial CAGR of over 15% during 2018-2028.

According to a new market study of Future Market Insights, the demand for residential and commercial smart glass will remain on a constant high over the coming years. The global residential and commercial smart glass market is currently receiving strong demand from the commercial sector. However, it is more likely that the demand for smart glass will gather momentum in the residential sector, in the near future. The report attributes this demand growth to increasing initial interest of buyers in residential and commercial smart glass, particularly for bungalows and luxury apartments.

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Energy Control & Other Clean Technology Initiatives to Boost Residential & Commercial Smart Glass Market Growth

Various initiatives for the clean technology and mostly related to energy conservation and sustainable use of energy is driving the customers to use different products which would serve the purpose. Also, these initiatives are compelling manufacturers of residential and commercial smart glass to invest heavily in the development of versatile products compatible for efficient energy consumption, besides basic functionalities of smart glass.

On the other side, residential and commercial smart glass solutions incur heavy initial expenditure that includes procurement as well as installation expenses. High procurement and maintenance expenses will remain longstanding challenges associated with the revenue growth of residential and commercial smart glass market. Moreover, though most residential and commercial smart glass solutions are dirt-proof and demand occasional cleaning, regular maintenance is required to keep these integrated technologies bug-proof, which further demands expensive regular maintenance. This is projected to have a restraining impact on the overall adoption rate of residential and commercial smart glass solutions.

Global Residential and Commercial Smart Glass Market Forecast

As far as the residential and commercial smart glass market is observed for indoor conference room, office privacy protection, shower room and product projection application, switchable PDLC (Polymer dispersed liquid crystals) residential and commercial smart glass are used the most.

By region, North America is anticipated to dominate the global residential and commercial smart glass market over the forecast period. North America residential and commercial smart glass market, is expected to be followed by Europe residential and commercial smart glass due to the high percentage of luxurious homes and other commercial building in the region.

In terms of growth rate SEA & others of APAC has the highest CAGR in the residential and commercial smart glass market, followed by China and Latin America residential and commercial smart glass market, which also have a good growth rate compared to the other regions in the market.

The market for the residential and commercial smart glass market is segmented on the basis of end-user, technology type and regions. The end–user segment in the residential and commercial smart glass market is further divided into residential and commercial segments. The residential segment is then further divided into smart windows & doors, smart glass partitions, smart shower glass, and smart glass walls. The commercial sector is further segmented into commercial buildings, architectural use, automobiles, aircraft, marine, consumer electronics and others.

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As per the technology type segment the residential and commercial smart glass market is segmented into Electrochromic, Thermochromic, Photochromic, Suspended Particle Device, and Liquid Crystal. The residential and commercial smart glass market is also divided as per building type in the residential segment.

Residential and Commercial Smart Glass Market: Segmentation

On the basis of end user:

  • Residential
  • Commercial

On the basis of technology type:

  • Electrochromic
  • Thermochromic
  • Photochromic
  • Suspended Particle Device
  • Liquid Crystal

Table of Content

1. Executive Summary

1.1 Market Overview

1.2 Market Analysis

1.3 FMI Analysis and Recommendations

1.4 Wheel of Fortune

2. Market Introduction

2.1 Market Definition

2.2 Market Taxonomy

3. Market Background

4. Market Forecast

4.1 Market Size and Y-o-Y Growth

4.2 Absolute $ Opportunity

5. Global Residential and Commercial Smart Glass Market Analysis by Residential End-User

About 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 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
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Calcium Sulfate Market Projected to Grow at a CAGR of 4.1% during the forecast period, 2033

Calcium sulfate sales are anticipated to increase at a CAGR of 4.1% over the forecast period. In 2023, the calcium sulfate market is expected to be worth US$ 266.84 billion, and by 2033, it is anticipated to reach US$ 338.54 billion.

With a melting point of 1,400°C, calcium sulfate is an odorless, white, crystalline powder. It exists in nature as a powder that is both hydrated and anhydrous. In addition to selenite, satin, light spar, terra alba, and satinite, calcium sulfate can also exist in other forms. Plaster of Paris is (POP) made when calcium sulfate loses a certain amount of water molecules when heated.

POP changes into a hard mass when water is added, and this mass is used to make plaster casts, wall plasters, and other things. In addition, calcium sulfate is used as a drying agent in chemical labs, as a coating agent in the paper industry, as a color pigment in paints, and as a soil conditioner in the agriculture sector.

The key reason propelling the growth of the global calcium sulfate market is the rise in the usage of calcium sulfate in construction products, including rapid setting types of cement, plaster of Paris, and wall plasters. Also, it is frequently used in dental offices as a tool for creating casts or dental impressions, which supports market expansion.

The demand for calcium sulfate, which is used as a surface sizing agent and a pigment to create coated paper with high brightness and whiteness, is being driven by the expanding pulp and paper industry. Additionally, the market is anticipated to expand at a faster rate since there is an increasing need for calcium sulfate as a calcium supplement that is essential for cell and bone growth.

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The market is also anticipated to rise as a result of an increase in the usage of calcium sulfate as a desiccant and an inactive component in medicinal medications. Potential development prospects for market expansion are anticipated to come from the rapidly expanding applications across several end-use sectors and the rising demands from emerging nations.

Given the increasing demand for calcium sulfate in emerging nations like China and India, the Asia-Pacific region represented the maximum market share for calcium sulfate in 2022 and is anticipated to keep that position going forward. Over the forecast period, China is anticipated to retain its supremacy in the calcium sulfate market. This is a result of the growing construction industry in the country. The demand for calcium sulfate as an additive, reducing, and drying agent is predicted to rise over the forecasted period and is proving to be a key driver for the calcium sulfate market growth in this region.

KEY TAKEAWAYS

  • The market in the United States has grown significantly in 2022 holding a 10.7% share of the global market.
  • The market in China is expected to grow at a CAGR of 4.1% over the forecast period.
  • The market in the United Kingdom is anticipated to grow at a CAGR of 2.7% through 2033.
  • With a CAGR of 5.8% over the forecast period, India is predicted to grow rapidly in the market.
  • Germany accounted for 3.8% of the global market in 2022.

COMPETITIVE LANDSCAPE

The top manufacturers of the calcium sulfate market are USG Corporation, Solvay SA, Honeywell International Inc., Beijing New Building Materials PLC, Penta Manufacturing Company, Boral Limited, Compagnie de Saint-Gobain SA, YOSHINO GYPSUM CO., LTD., JONOUB GYPSUM, PABCO Building Products, LLC, Celtic Chemicals Limited, Georgia-Pacific LLC, and among others.

To meet the rising demand from several end-use sectors, such as construction, food and beverage, and pharmaceuticals, manufacturers in the calcium sulfate market are concentrating on creating high-quality goods. In order to lessen their influence on the environment and adhere to rules, they are also implementing sustainable production techniques. Also, to reach new markets and boost their market share, firms are extending their global reach through strategic alliances and acquisitions.

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RECENT DEVELOPMENTS

  • In July 2022, Alberta-based CGC Inc., a Canadian unit of USG Corporation, aims to open a brand-new, slashing wallboard manufacturing facility in Wheatland County. This investment could further enable CGC to provide even greater service to its devoted customers in Alberta and the West, and it also demonstrates CGC’s commitment to the Canadian market.
  • In order to reduce the cost of building construction and boost productivity and speed of implementation, Jonoub Gypsum Co. started manufacturing its new product, “Mixed soil and gypsum (Soil Gypsum)” in July 2018.

Market Segmentation

By Product Form:

  • Anhydrous
  • Hydrated

By Grade:

  • Technical Grade
  • Food & Pharma Grade

By Function:

  • Coagulant
  • Thickening Agent
  • Excipient
  • Desiccant
  • Additive
  • Intermediate

By End-use:

  • Construction
  • Agrochemicals
  • Food & Beverages
  • Cosmetic & Personal Care
  • Pharmaceuticals
  • Paints & Coatings
  • Paper

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • China
  • Middle East & Africa

About 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 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
For Sales Enquiries: sales@futuremarketinsights.com
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Smart Home Service Market to be US$ 31.41 Billion by 2033 | Future Market Insights,Inc.

The smart home service market is anticipated to reach US$ 7.5 billion in 2023 and US$ 31.41 billion by 2033. Throughout the forecast period, the market is expected to grow at a CAGR of 15.4%.

Because of the growing preference for cognitive systems in today’s smart homes, the smart home services business is rapidly expanding. As a result, the demand for maintenance and installation services increases.

With the advent of various appliances and features such as integration that allow smart home devices to speak with one another, smart house trends have already taken off in a large number of homes. The presence of prominent industry players is an important factor strengthening the smart home services market.

Amazon’s Alexa devices, for example, assist in making reminders, checking the weather, playing music, and much more. Similarly, Philips Hue is a wireless lighting system that may turn on and off based on your needs.

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As the number of smart appliances grows, so does the need for smart home services, which helps to drive industry growth. Owners can get tailored services from skilled service providers as well as installers based on their demands. Furthermore, owners can obtain services that adhere to the most recent market trends, as service providers keep up with growing trends.

Another service that increased its presence in many homes during and after the pandemic was health technology. Smart thermostats and smart air purifiers are two examples of health tech services that might help you create a futuristic house.

Notable Insights from the Smart Home Services

  • The United States is anticipated to grow significantly with a value of US$ 11.37 billion by the end of 2033 recording a CAGR of 16.0%.
  • Asia Pacific is another region to thrive at a CAGR of 12.5% during the forecast period.

Competitive Analysis:

The presence of several well-established and novel players in the smart home services market driving the market growth. These players aim at providing numerous smart home devices to improve the quality of life that is not only intelligent but are budget-friendly. There is cut-throat competition in the market with the launch of novel products with increasing usage of AI and IoT.

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Key Companies Profiled in the Market

  • Johnson Controls Inc.
  • Comcast Corporation
  • Calix, Inc.
  • Trane Technologies plc
  • Telus Corporation
  • Vivint, Inc
  • ADT Inc
  • Charter Communications Inc.

Key Developments:

  • In April 2019, Calix Inc. made a partnership with IdeaTek to expand the presence of its Gigabit service to their subscriber as well as enable incorporation and administration of its smart home device with Wi-Fi as well as cloud-based services.
  • Airbnb and Vivint, Inc., also made a partnership for managing energy consumption and home security distantly at its homes.
  • HelloTech joined Abode Systems for specialized security system installations in February 2019. HelloTech’s new Abode System installation services launch with ‘do-it-for-me’ installation services, with plans to introduce additional service and support features in the future.

Smart Home Services Market

By Service:

  • Managed
  • Integrated

By Solution:

  • Security and Access
  • Lighting and Window
  • Audio-Visual and Entertainment
  • Energy Management and Climate

By Region

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

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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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Smart Classroom Market Size to Reach US$ 152.4 Billion by 2032 | CAGR of 7%

The Smart Classroom Market will be worth $71.5 billion in 2021, according to a recently published Future Market Insights report, and will grow at a CAGR of 7% from 2022 to 2032. By the end of 2032, the market is expected to be worth US$ 152.4 billion.

During the pandemic, the education sector went online. During the lockdown, schools and universities began to offer lessons online and used e-Learning technology, which fueled industry growth.

Curriculum management software, e-textbooks, management platforms, and communication platforms are just a few examples of educational technology that has improved their effectiveness. Furthermore, the cost of educational technology devices and the internet data required to use them has decreased.

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Virtual Learning Environments (VLEs), like comprehensive developments in remote learning, are breaking down physical boundaries to education, extending its reach beyond the walls of institutional facilities. VLEs are not only for delivering lessons via online platforms.

They also allow full-fledged assessments, projects, exams, progress records, rapid feedback, and other features. While kids and teachers can customize their profiles on these portals, parents can obtain daily reports on their child’s development via email, text messaging, or other methods.

Even on school grounds, technology-driven smart classrooms may improve students’ learning experiences through active, sophisticated audio-visual learning. Furthermore, the application of AI and insights may help teachers better monitor their learners, providing them with an accurate picture of each student’s strengths and limitations.

Key Takeaways from the Market Study

  • Global Smart Classroom Market is expected to reach a market size of US$ 152.4 Bn by 2022.
  • In terms of End-use, the K-12 education segment is expected to account for the highest CAGR of 7.3% during the forecast period.
  • In terms of components, the Hardware segment is expected to account for the highest CAGR of 7.1% during the forecast period.
  • United States is projected to remain the dominant market with an absolute dollar growth opportunity of US$ 17.6 Bn during 2022 – 2032.
  • The market in India is set to experience the highest CAGR of 7.4% during the 2022-2032 forecast period.

“During the projected period, the rise of K-12 Education in terms of end-use can become a key driver in raising the Smart Classroom market revenue.” comments a Future Market Insights analyst.

Competitive Landscape

  • Market participants are pursuing a variety of strategic initiatives, including partnerships, mergers and acquisitions, collaborations, and the creation of new products and technologies. Some of the key market participants in Smart Classroom market include Microsoft Corporation, Dell Inc., Apple, Inc., Fujitsu Ltd., Cisco Systems, Inc., Discovery Communication, Dynavox Mayer-Johnson, Huawei Technologies Co., Blackboard Inc., and SAP SE.

Some of the recent developments in the smart classroom market include:

  • In January 2022, Teachmint Technologies Pvt. Ltd, an e-learning company for teachers and students, purchased MyClassCampus (Teachmint Technologies Pvt. Ltd), an ERP platform for educational enterprises, in January 2022. By merging its learning management system (LMS) along with ERP software, Teachmint will be able to increase its offerings in schools and other educational institutions.
  • In March 2021, Huawei Technologies Co., Ltd. announced the debut of a smart classroom solution which depends on the HUAWEI IdeaHub Board as well as the educational cloud platform. This approach is utilized for online education, live broadcasting, and remote teaching. Moreover, the group discussion scenario allows instructors and students to exchange material and engage with one another, enhancing student interest and encouraging them to take charge, thereby improving the learning environment and efficiency.
  • In May 2021, SAP SE introduced SAP Learning Hub, a free learning resource for students and teachers. This new free programme for the next generations of talent will provide the information and opportunities needed to attain in-demand digital skills.
  • In February 2020, Blackboard Inc. revealed the acceptance of its edtech software and services for Navajo Technical University (NTU). Through the cooperation, the firm provides its cloud-based installation of a Learning Management System (LMS), online educational solution, course material accessibility service, blackboard collaborations, blackboard studies, blackboard ally, and IT help desk services.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Classroom Market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Smart Classroom Market in terms of Component (Hardware, Software, Services), End-use (Early Education, K-12 Education, Higher Education, Language Education, Vocational Education), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa (MEA)).

Market Segments Covered in Smart Classroom Market Analysis

By Component:

Hardware

  • Interactive Whiteboards
  • Digital Displays
  • Smart Projectors
  • Others

Software

  • Learning Management Software
  • Student Response Software
  • Classroom Management and Assessment Software
  • Distance Learning Solutions
  • Security
  • Others

Services

  • Managed/Outsourced
  • Professional

By End-use:

  • Early Education
  • K-12 Education
  • Higher Education
  • Language Education
  • Vocational Education

By Region:

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

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

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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 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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Social TV Market will Reach a Value of US$ 5.9 Billion by 2032 at a CAGR of 11.8%

The Social TV Market revenues were estimated at US$ 1.8 Billion in 2021 and are anticipated to grow at a CAGR of 11.1% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 5.9 Bn. Revenue through Social TV Software is projected to grow at a CAGR of 11.8% during 2022 – 2032.

The industry is being pushed by the increasing global popularity of social media platforms. Over the previous decade, social media platforms have emerged as the world’s most disruptive trend. It has drastically altered the way people interact, obtain information, and enjoy themselves. The overall frequency of social media consumers reached 3.5 Billion in 2019, representing around 33% of the worldwide population, which is further expected to rise in the future.

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As social media platforms become more popular, enterprises are exploiting their capabilities to obtain insights on customer behavior to create a better customer experience. The television and entertainment industries are also cooperating with social media businesses to improve client engagement and experience. The integration of social media sites into television allows for the convergence of social layers into entertainment and allows users to engage with other viewers while watching television.

Key Takeaways from the Market Study

  • Global Social TV Market is estimated to reach a market size of US$ 2.1 Bn by 2022.
  • In terms of Solutions, the Software segment is expected to have the highest CAGR rate of 11.8% during the forecast period.
  • In terms of Application, the TV Shows segment is expected to have the highest CAGR rate of 10.9% during the forecast period.
  • United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 1.2 Bn during 2022 – 2032.
  • The market in U.S. is set to experience the highest CAGR of 8.3% during the 2022-2032 forecast period.

Competitive Analysis

The social TV market has been experiencing fierce competition due to the introduction of new start-ups offering a diversified variety of creative solutions catering to different industrial requirements. Some of the key social TV players include Talkwalker Inc., Flowics, SentabTV, Telescope, Haier Group, Hitachi, Ltd., iPowow Ltd, Sharp Corporation, Snipperwall, and Socialbakers Ltd.

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Some of the recent market developments are as follows:  

  • In July 2020, Talkwalker, a provider of social monitoring and audience insights software announced the purchase of Nielsen Social. Talkwalker’s AI-enabled translational intelligence platform will benefit from Nielsen Social’s revolutionary Social Content Ratings solution.
  • The purchase would strengthen Talkwalker’s existing position in servicing global brands while also expanding its footprint in the US enterprise market. Talkwalker has achieved another milestone with this purchase.
  • In April 2021, Panasonic Corporation agreed to take over Blue Yonder, a prominent end-to-end digital fulfillment platform provider. Later, Panasonic acquired the remaining 80% of Blue Yonder’s shares for US$ 5.6 Bn, adding to the 20% it bought in July 2020. The extra investment, including debt repayment, totaled US$ 7.1 Bn, pricing Blue Yonder around US$ 8.5 Bn.
  • Bringing together Panasonic’s strengths in industrial engineering, IoT, and edge technologies alongside Blue Yonder’s AI/ML-driven supply chain as well as commerce solutions significantly increases the consumer value of Blue Yonder’s premier digital fulfillment platform. Panasonic and Blue Yonder will work together to provide clients with a competitive edge by driving more automation and actionable, real-time business analytics that cut waste and enhance operations while building a more sustainable world.
  • In March 2021, Hitachi, Ltd. announced the acquisition of GlobalLogic Inc., a prominent digital engineering services firm located in the United States. The transaction is based on a formal agreement between Hitachi’s Global Holdings Corporation, a subsidiary in the United States.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Social TV Market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Social TV Market by Solution (Software, Services), Application (Sports, News, TV shows, Others), across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

Market Segments Covered in Social TV Market Analysis

By Solution:

Social TV Software

  • Broadcast Integration
  • Audience Engagement
  • Content Moderation

Social TV Analytics

  • Social Networking Platform
  • Others

Social TV Services

  • Integration and Consulting
  • Operation & Installation
  • Maintenance & Repairing

By Application:

  • Sports
  • News
  • TV shows
  • Others

By Region:

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

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

  • 3.2. Scenario Forecast

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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.

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T: +1-845-579-5705
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Security Testing Market to be US$ 27 Billion by 2032 | Future Market Insights,Inc.

The global Security Testing Market was valued at US$ 7.9 Bn in 2021 and is expected to reach US$ 27 Bn by 2032, finds Future Market Insights in a recent market survey. As per the findings of the report, revenue through BFSI is projected to remain the key contributor to revenue.

BFSI require the processing of large amounts of very sensitive data, and their software requires frequent testing in order to ensure the safety of this data. The increases in digitalization, home transactions, and remote workers are also expected to drive demand.

United States to Command the Larger Proportion of Security Testing Sales throughout the Analysis Period

The United States is the leading market for Security Testing demand, having witnessed a CAGR of 13.7% from 2017 – 2021 and accounting for over 35% of the market demand. The market is expected to grow in the future as well, with a forecasted market value of US$ 9.4 Bn, with an absolute dollar opportunity of US $6.3 Bn. The rise in government regulations requiring testing to promote cybersecurity is the key driver for demand.  

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“Security Testing providers are closely working on research and development to combat the ever-changing cybercrime techniques of cybercriminals” comments an analyst at Future Market Insights.

Security Testing Market: Competition Insights

At present, Security Testing providers are focused on harnessing new technology and addressing recent cybersecurity breaches. The key companies operating in the market include IBM, SecureWorks, Synopsys, Rapid7, Micro Focus, Cigniti, AT&T, WhiteHat Security, Veracode, Checkmarx, McAfee, Core Security, Parasoft, ScienceSoft, Data Theorem, Kryptowire ,LogRhythm, PortSwigger, ImpactQA, and NowSecure

Some of the recent development in Security Testing are as follows:

  • In June 2022, Synopsys, Inc. announced the acquisition of WhiteHat Security for US$ 330 Mn. Whitehat is a provider of application security testing SaaS.
  • In June 2021, HelpSystems and Cybellum announced a partnership to offer an automated automotive security scanning and vulnerability management analysis solution
  • In April 2021, IBM Security announced a collaboration with HCL Technologies for the unification and streamlining of threat management though an SOC platform.
  • In August 2021, FireEye introduced FireEye XDR. The platform aims to help security teams to detect and respond to threats in a more efficient and streamlined manner. FireEye Helix offers an integration by offering SOAR and SIEM capabilities via Mandiant-powered threat intelligence.
  • In July 2020, Checkmarx partnered with Gaming Innovation Group. Through this, GiG developers will be able to access a source code scanning tool to aid in security testing.
  • In September 2020, Indium Software announced the launching of its unified smart testing platform uphoriX, which combines functional testing, performance testing, security and compatibility. The testing is automated over the cloud and compatible with testing tools.

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Market Segments Covered in Security Testing Market Analysis

By Type:

  • Application Security Testing
  • Network Security Testing
  • Device Security Testing
  • Social Engineering

By Deployment Size:

  • On-premises
  • Cloud

By Organization Size:

  • Large Enterprises
  • SMEs

By Vertical:

  • SMEs
  • Large Enterprises
  • IT
  • Telecom
  • Retail and E-Commerce
  • Education
  • Others

By Region:

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

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

Report Customization available @
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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:

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T: +1-845-579-5705
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Reinsurance Market to be US$ 474 Billion by 2032 | Future Market Insights,Inc.

By the end of 2032, the market is projected to have a US$ 474 billion valuation. The Japanese market is anticipated to offer a $19.5 billion absolute potential between 2022 and 2032. The reinsurance market‘s revenues are anticipated to reach US$ 292.4 billion in 2021 and to grow at a CAGR of 4.5% from 2022 to 2032, according to a recent Future Market Insights study.

The complexity, expansion, and diversity of risks make reinsurance crucial for the Japanese insurance industry. Typhoons and earthquakes commonly occur in Japan. Japanese insurers are required to engage overseas reinsurers to cover these risks. In addition to two indigenous reinsurance companies, Japan has numerous subsidiaries of foreign reinsurers. Reinsurance is also underwritten by non-life insurance companies.

The non-life insurance market in Japan is crucial to the worldwide reinsurance industry. One of the world’s biggest insurance markets is found in Japan. It is also the fourth-largest property and casualty insurance market in the world, with premiums exceeding US $68.8 Billion, offering reinsurance companies a wealth of opportunities.

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Additionally, the nation has had success in the life insurance business. Reinsurance Group of America, Inc., a division of T&D Holdings, Inc., stated in April 2022 that it has reached an agreement to coinsure JPY 160 billion (US $ 1.2 billion) in statutory reserves with Taiyo Life Insurance Company. The insurance policies covered by the contract will still be serviced by Taiyo Life.

Key Takeaways from the Market Study

  • The global Reinsurance Market is expected to reach a market size of US$ 306.4 Bn by 2022.
  • The Non-Life/Property & Casualty Reinsurance Companies segment is expected to account for the highest CAGR of 4.3% during the forecast period.
  • United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 62.9 Bn during 2022 – 2032.
  • The market in Japan is set to experience the highest CAGR of 7.3% during the 2022-2032 forecast period.

“During the projected period, the presence of inflation, uncertain economic environment, and natural disasters can become key drivers in raising the reinsurance market revenue.” comments a Future Market Insights analyst.

The reinsurance market is a financial market where insurance companies transfer some of the risks associated with their policies to other companies in exchange for a fee. Reinsurance is used to reduce the overall risk of an insurance company and to ensure that it has the resources to pay out claims in the event of a catastrophic loss. Reinsurers provide a variety of services, including risk assessment, underwriting, and claims management, and also help insurance companies manage their capital and liquidity.

The market is divided into two segments: treaty reinsurance and facultative reinsurance. Treaty reinsurance is a long-term agreement between the reinsurer and the insurance company, whereas facultative reinsurance is a one-time agreement for a specific policy or group of policies.

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Competitive Landscape

  • The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Reinsurance Market are focused on R&D to produce innovative technological solutions.
  • In October 2020, Toa Reinsurance Company, Ltd. announced that it had expanded the product offerings of Toa Re Europe, based in Zurich, Switzerland, to include Life reinsurance in addition to the Property and Casualty reinsurance business that it began underwriting at the end of 2018. Life reinsurance is an important part of their group strategy, enabling them to expand their offering in Zurich for EMEA clients.
  • In April 2022, Covéa’s acquisition of PartnerRe has been approved by the European Commission. For this, US$ 9 Bn transaction had been discussed in 2021. In October, EXOR and Covéa agreed to sell the reinsurer in its entirety to the latter. Following those discussions, the EC announced that the merger had been approved under the EU Merger Regulation. Following labor council consultations, EXOR and Covea came to an agreement for Covéa to purchase the Bermuda-based reinsurer.
  • In May 2022, Brookfield Reinsurance completed its all-cash acquisition of American National for $5.1 billion. A critical step in carrying out Brookfield Reinsurance’s growth strategy in order to provide policyholders with long-term value and security. This demonstrates Brookfield Reinsurance’s leadership in providing capital and investment solutions to US-based insurers.

Market Segments Covered in Reinsurance Market Analysis

By Distribution Channel:

  • Direct Writing
  • Broker

By End-User:

  • Life & Health Reinsurance
  • Non-Life/Property & Casualty Reinsurance

By Region:

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

Report Customization available @
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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
For Sales Enquiries: sales@futuremarketinsights.com