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Subscription & Billing Management Market Grows at 13.4% CAGR to US$ 18,263 Million by 2033

The subscription & billing management market is expected to develop at a 13.4% CAGR between 2023 and 2033. This significant rise in CAGR over the 11.9% reported between 2018 and 2022 highlights the growing need for sophisticated subscription management systems. The large increase in market value from US$ 5,283.6 million in 2023 to US$ 18,263 million in 2033 demonstrates the increased adoption of subscription-based business models as well as the necessity for effective billing administration solutions to capitalize on recurring income possibilities.

In today’s subscription-based economy, the subscription & billing management industry is critical, allowing organizations to easily handle recurring revenue models and improve billing operations. The development of subscription services across numerous sectors has increased the demand for strong and adaptable subscription management systems. These solutions make it possible to optimize client retention and revenue development through smooth subscription sign-ups, automatic billing cycles, and comprehensive analytics.

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The rising use of subscription-based business models is the key driver of the Subscription & Billing Management market’s development. Businesses ranging from software-as-a-service (SaaS) providers to media streaming platforms are shifting to subscription solutions to satisfy changing customer demands and capitalize on recurring income streams. Subscription management solutions provide the capabilities needed to manage complicated price structures, payment cycles, and client engagement, making them important for subscription-based organizations.

One of the major challenges confronting the Subscription & Billing Management business is the difficulty in integrating with existing systems. Many companies have old systems that may not work well with modern subscription management solutions. The migration and integration process can be time-consuming and complex, making it difficult for certain businesses to completely utilize current subscription management systems.

The danger of security breaches and data privacy issues is a significant threat to the Subscription & Billing Management industry. Because these systems manage sensitive client data and financial information, they are vulnerable to hacks. Maintaining consumer trust and protecting organizations from possible attacks requires robust security measures and compliance with data protection rules.

Despite these obstacles, the market’s rising need for personalized subscription experiences creates substantial opportunities. Customers will be attracted and retained by subscription management solutions that provide customized price plans, targeted promotions, and configurable subscription alternatives. The use of sophisticated analytics and AI-driven insights allows organizations to optimize pricing strategies, minimize churn, and improve customer engagement, resulting in increased revenue and market share in the Subscription & Billing Management industry.

Key Takeaways from the Subscription & Billing Management Market Report:

In the United States, the market is growing at a CAGR of 20.5% in 2022.
United Kingdom is expected to grow at a CAGR of 4.3% by 2033, owing to the rising use of subscription-based business models and the demand for effective recurring revenue management solutions.
India’s CAGR of 7.3% shows the country’s developing subscription economy and increased desire for personalized subscription experiences.
China’s CAGR of 5.6% suggests consistent development, which may be ascribed to the growing popularity of subscription services as well as the desire for advanced billing administration tools to optimize revenue streams.

Competitive landscape:
The market for subscription & billing management is highly competitive, with numerous significant competitors fighting for global supremacy. Zuora is a notable rival that provides a fully cloud-based platform for subscription management, invoicing, and analytics. Recurly is another major provider, offering subscription billing systems with an emphasis on lowering churn and increasing revenue.

Aria Systems provides a scalable and adaptable platform that empowers businesses with personalized subscription offerings and efficient billing procedures. Chargebee, Chargify, and Fusebill are other market challengers, each with their own set of features and capabilities to meet the different demands of enterprises managing subscription-based services. The rivalry pushes ongoing developments and breakthroughs in subscription and billing administration, providing organizations with a diverse set of options for optimizing their recurring revenue models.

Leading Key Players:

Zuora
Aria Systems
Gotransverse
Sage Intacct
BillingPlatform
SaaSOptics
BillingPlatform
2Checkout
cleverbridge AG
Recurly, Inc.
Digital River, Inc.

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Recent Developments:

Zuora is a key participant in the Subscription & Billing Management sector, offering organizations a cloud-based platform for managing subscription-based services. Their advancements include subscription analytics, revenue recognition, and billing automation, allowing businesses to manage recurring revenue models more effectively and accelerate subscription growth.
Recurly is well-known for its subscription billing and administration platform, which serves companies of all sizes. Integration with multiple payment channels increased dunning tools to reduce churn, and extensive reporting features enable firms to optimize subscription income and boost client retention.
Aria Systems provides a scalable and adaptable Subscription & Billing Management platform for businesses. Their advancements include the ability to provide personalized subscription offers, greater support for complicated pricing models, and seamless interaction with CRM and ERP systems, allowing for quicker billing processes and improved client experiences.

Subscription & Billing Management Market Segmentation:

By Component:

Software
Services
- Consulting Services
- Implementation Services
- Support and Maintenance Services
Professional Services
- Integration and Consulting
- Operation & Installation
- Maintenance & Repairing

By Deployment Size:

On-premises
Cloud

By Organization Size:

Large Enterprises
SMEs

By Vertical:

BFSI
Retail and eCommerce
IT
Telecom
Media and Entertainment
Public Sector and Utilities
Transportation and Logistics
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

About Future Market Insights (FMI):

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Flat Panel Display Market Predicted to Reach Remarkable US$ 217,682.7 Million by 2033, Fueled by Strong 3.8% CAGR

The flat panel display market is set to reach a market value of approximately US$ 149.4 billion in 2023, and this figure is anticipated to grow to around US$ 217.7 billion by 2033. Over the forecast period, we expect the sales of flat panel displays to experience substantial growth at a Compound Annual Growth Rate (CAGR) of 3.8%.

Flat panel displays find applications in various industries. In the entertainment sector, they offer high-resolution visuals, a wide colour gamut, and smart features, providing viewers with immersive and diverse content options.

In the computing and productivity realm, flat panel displays have become essential for professionals, gamers, and creative individuals who require high-quality visuals and seamless user experiences.

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Mobile devices, such as smartphones, tablets, and smartwatches, have also embraced flat panel displays, revolutionizing the mobile technology landscape. Furthermore, flat panel displays play a crucial role in advertising and digital signage, enabling dynamic and engaging advertising experiences for businesses.

One emerging trend that is set to drive the sales of flat panel displays is the advancement in information technology. The demand for electronic devices like laptops, televisions, mobile phones, and tablets with flat-panel displays is on the rise.

Manufacturers are focusing on incorporating retina displays and Ultra High Definition (UHD) 4K technology to enhance pixel density and improve visual quality. The flat panel display market is witnessing significant growth and innovation, driven by:

Advancements in display technologies.
Increasing demand for high-quality visual experiences across various industries.

As technology continues to evolve, we can expect further enhancements and exciting developments in the flat panel display industry.

Key Takeaways from the Flat Panel Display Market Report:

Sales of OLED displays are anticipated to expand at a 2.7% CAGR by the end of 2027.
The automotive application segment is projected to secure a CAGR of 4.9% in the coming years.
The consumer electronics segment is expected to rise at a CAGR of 3.3% and capture a significant market share.
In the United Kingdom, the demand for flat panel displays is anticipated to expand by 3.4% between 2023 and 2033.
In Japan, sales of flat panel displays are estimated to reach US$ 14.5 billion by 2027.

“Flat panel displays are transformative in the world of visual technology. These sleek and energy-efficient screens have become ubiquitous in various applications, from consumer electronics to signage and televisions, reshaping the way we view and interact with digital content,“ – comments Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Major Key Players:

AU Optronics Corp.
Emerging Display Technologies Corp.
Innolux Corp.
Sharp Corporation
Japan Display Inc.
Universal Display Corporation
LG Display Co. Ltd.
Panasonic Corporation
Sony Corporation

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Key Developments:

AU Optronics collaborated with PlayNitride Inc., a Micro LED technology vendor, in April 2020 to create high-resolution flexible micro-LED display technology. AUO and PlayNitride combined their display and LED experience to create a leading 9.4-inch-high resolution flexible micro-LED display with a great 228 PPI pixel density.
LG Display exhibited its latest displays and technologies at the CES 2020 in Las Vegas from January 7 to 10, 2020. The firm might introduce a 65-inch Ultra HD (UHD) Bendable OLED panel and a 55-inch Full HD (FHD) Transparent OLED display.
LG Display announced the launch of its 8.5th generation (2,200mm x 2,500mm) OLED panel production factory in Guangzhou, China, in August 2019, with a capacity of producing 10 million large-size OLED panels per year.

Flat Panel Display Market Segmentation:

By Technology:

Liquid Crystal Displays
Plasma Displays
Organic Light Emitting Diode Displays

By Application:

Consumer Electronics
Television
Mobile Phones
Personal Computers
Automotive

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East & Africa (MEA)

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Smart TV Market Surges: Projected Exponential Growth with a 19.5% CAGR, Eyeing US$ 21,03,933.4 Million by 2034

The global smart TV market is on the brink of reaching a substantial valuation, projected to reach US$ 3,53,520.5 million by 2024. The growth is primarily driven by the burgeoning interest and insights surrounding the smart TV market. The trend is expected to open doors to new opportunities within the market, with a projected CAGR of 19.5% from 2024 to 2034. By 2034, the market is poised to soar to an estimated total valuation of around US$ 21,03,933.4 million.

The smart TV market is experiencing a rapid and transformative surge in digital content consumption, propelled by the widespread popularity of streaming platforms like Netflix and Amazon Prime Video, which have garnered substantial viewership on a global scale. This shift towards digital content consumption is a testament to changing consumer preferences and an indicator of the evolving landscape of home entertainment.

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The increasing relaxation of COVID-19 restrictions plays a pivotal role in boosting the smart TV market. As societies regain a sense of normalcy, there is a heightened emphasis on online content distribution, and consumers are increasingly turning to smart TVs for their entertainment needs. This surge reflects smart TV brands adaptability in catering to the changing dynamics of content consumption. With the convenience of internet connectivity, users can seamlessly subscribe to and enjoy their preferred online streaming services, contributing to the accelerated growth of the smart television market.

The growing demand for personalized entertainment experiences is a key driver in this trajectory. The days of traditional movie theaters and flipping through satellite television channels are giving way to the era of personalized content consumption. Smart TVs, by connecting to the internet, empower users to tailor their entertainment experiences by subscribing to platforms like Netflix and Amazon Prime. This shift in consumer behavior is reshaping the market landscape and driving the overall growth rate of the smart television market.

Key Takeaways from the Market Study:

The market valuation in 2023 was US$ 2,96,500.5.
Based on technology type, OLED is expected to dominate at a market share of 20.30% in 2024.
Based on screen type, the flat type will register at a market share of 46.8% in 2024.
The smart TV market size expanded at 18.5% CAGR between 2019 and 2023.
Japan is estimated to expand at a CAGR of 18.20% by 2034.

Competitive Landscape:

The smart TV industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on introducing eco-friendly product lines as a core aspect of their manufacturing endeavors. Furthermore, they employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.

Some of the key developments are-

Apple has introduced the highly anticipated next generation of Apple TV 4K, elevating the home entertainment experience for users. The new model boasts a high frame rate and High Dynamic Range (HDR) with Dolby Vision, setting a new standard for visual quality.
LG Electronics has celebrated significant success with the sales of its TV lineup, showcasing a diverse range of cutting-edge models. The lineup includes an impressive 14 OLED models, featuring the sleek GX Gallery series, the Genuine 8K ZX models, and the 4K Ultra HD TV.

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Leading Key Players:

LG Electronics, Inc.
Samsung Group
Panasonic Corporation
Apple, Inc.
Sony Corporation
Koninklijke Philips N.V.
Videocon Industries Limited
Haier Electronics Group Co, Ltd.
TCL Corporation
Hisense Group
Sansui Electric Co., Ltd.
Micromax Informatics

More Valuable Insights Available:

Future Market Insights offers an unbiased global smart TV market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the smart TV market is segmented based on major Display Technology Type (LED, QLED, HDR, OLED, LCD, IPS LCD, XLED), Screen Type (Flat, Curved, Foldable), Screen Size (32 Inches & Under, 33 to 44 Inches, 45 to 50 Inches, 51 to 55 Inches, 56 to 65 Inches, 66 Inches & Above), Application Type (Residential, Commercial, Hotels, Restaurants, Corporate Offices, Cafeterias, Others), Price Range (Under US$ 500, US$ 500 – US$ 1000, US$ 1000 – US$ 2000, US$ 2000 – US$ 3000, US$ 3000 & Above), Sales Channel (Hypermarkets/Supermarkets, Specialty Stores, Multi-brand Stores, Online Retailers, Wholesalers & Wholesalers, Other Sales Channel) and by Region (North America, Latin America, Eastern Europe, Western Europe, South Asia and Pacific , East Asia, Middle East & Africa)

Smart TV Industry Segmentation:

By Display Technology Type:

LED
QLED
HDR
OLED
LCD
IPS LCD
XLED

By Screen Type:

Flat
Curved
Foldable

By Screen Size:

32 Inches & Under
33 to 44 Inches
45 to 50 Inches
51 to 55 Inches
56 to 65 Inches
66 Inches & Above

By Application Type:

Residential
Commercial
Hotels
Restaurants
Corporate Offices
Cafeterias
Others

By Price Range:

Under US$ 500
US$ 500 – US$ 1000
US$ 1000 – US$ 2000
US$ 2000 – US$ 3000
US$ 3000 & Above

By Sales Channel:

Hypermarkets/Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Wholesalers & Wholesalers
Other Sales Channel

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East & Africa

About Future Market Insights (FMI):

Contact Us:

Nandini Singh Sawlani

Smart Home Automation Market Envisions US$ 168 Billion Revenue by 2032 with a CAGR of 8.84%

The smart home automation market is anticipated to expand from US$ 72 billion in 2022 to US$ 168 billion in 2032, with a CAGR of 8.84% during those two years. The Internet of Things (IoT) is becoming more widely used, and as a result, machine-to-machine communication has advanced, encouraging customers to use smart home automation technologies.

The need for smart devices is anticipated to increase shortly due to the integration of modern technologies like IoT, AI, and ML. A poll by Voicbot.ai estimates that 87.7 million US consumers were using smart speakers in January 2020. Additionally, the number of smart city initiatives is expanding globally, driving up demand for home automation companies.

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With remote access to home accessories, consumers can control their appliances while they are away. They can also utilize video surveillance equipment to keep an eye on any activity happening within the home. For instance, One Switch, an Indian firm that specializes in smart home automation, announced the availability of franchising opportunities in February 2022.

Eco-friendly products from smart home providers like One Switch, such as automated water sensors and motion sensors, have also contributed to lower electricity costs and an improved living environment.

Due to the high cost of automation tools and equipment, people with average or below-average disposable income find it difficult to purchase such cutting-edge services. There is polarization in purchasing such cutting-edge equipment because of its expensive price. As a result, the cost barrier is predicted to significantly constrain market expansion throughout the forecast period. Additionally, a lack of user familiarity with the technology prevents more smart home automation devices from being adopted. Consequently, complex applications and technology are anticipated to prevent market expansion in the assessment period.

Key Takeaways from the Smart Home Automation Market Report:

Global smart home automation market value to surge 2.3x from 2022 to 2032
By application, smart home automation for entertainment to experience a CAGR of 7.8% until 2032
Wireless smart home automation to be most sought after, expected to accumulate 44% revenue in 2022
North America to emerge as the fastest-growing market, expanding at an 8% CAGR
Europe is the 2^nd largest market for smart home automation, inclining at a 7.7% CAGR
Asia Pacific to present significant growth opportunities, reflecting a 7.5% value CAGR

Competition Analysis:
Key players in the global smart home automation market include Control4 Corporation (U.S.), BB Ltd. (Switzerland), Crestron Electronics, Inc. (U.S.), Ingersoll-Rand plc (Ireland), Honeywell International Inc. (U.S.), Johnson Controls (U.S.), Leviton Manufacturing Company, Inc. (U.S.), Legrand SA (France), Lutron Electronics Co., Inc. (U.S.), Schneider Electric (France), and Siemens AG (Germany).

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Recent Developments in the Industry include:

In July 2022, Schneider Electric launched the Wiser App to create awareness about the potential of Wiser Smart Homes. The app requires minimal rewiring and can support Google Home Assistant and Alexa which offers the needed comfort to consumers regularly.
In July 2020, Johnson Controls, a renowned player in smart and sustainable buildings, launched OpenBlue, a complete suite of connected solutions and services that combine the Company’s 135 years of building experience with modern technology. The new suite of connected solutions allows previously unimaginable occupant experiences, respectful safety and security, and impactful sustainability, driven by cutting-edge connected technology.

More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the global smart home automation market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on components (Hardware, Software, Services), Technology (Cellular, Wireless, Other), Application (Security, Lighting, Entertainment, HVAC and Energy Management, Smart Kitchen), and region.

Smart Home Automation Market Segmentation:

By Component:

Smart Home Automation Hardware
Smart Home Automation Software
Smart Home Automation Services

By Technology:

Cellular Smart Home Automation
Wireless Smart Home Automation
Other Smart Home Automation Technologies

By Application:

Smart Home Automation for Security
Smart Home Automation for Lighting
Smart Home Automation for Entertainment
Smart Home Automation for HVAC & Energy Management
Smart Home Automation for Smart Kitchens

By Region:

North America Smart Home Automation Market
Europe Smart Home Automation Market
Asia Pacific Smart Home Automation Market
Latin America Smart Home Automation Market
Middle East & Africa Smart Home Automation Market

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Silage Inoculants and Enzymes Industry Foresees Staggering Valuation of US$ 895.0 Million by 2033

By 2023, the global silage inoculants and enzymes industry is projected to reach US$ 547.6 million. By 2033, its valuation is expected to soar to around US$ 895.0 million.

The silage inoculants and enzymes market is anticipated to have a CAGR of 5.0% from 2023 to 2033. It will likely generate a total financial potential worth US$ 347.4 million in the same time frame.

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Future of Silage Inoculants and Enzymes

By 2033, it is anticipated that the growing use of precision farming in Asia will increase demand for silage inoculants and enzymes. This farming mainly relies on the analysis and data gathering from sensors, drones, and automated equipment.

Farmers can also use the data to make decisions in real-time about their farming practices. The capacity of silage microbial inoculants to boost efficiency and increase silage yield with the aid of data-driven concerns might increase demand for them.

Farmers might be better positioned to efficiently use resources such as feed, water, and land as precision farming becomes more widely used. By launching effective feed management, silage inoculants and enzymes are anticipated to improve the quality of preserved forage and reduce waste. They are expected to assist in achieving precision agriculture’s resource optimization aims.

The silage inoculants and enzymes market is expected to rise as dairy product demand surges in North America. High-quality feed is anticipated to be given to dairy cows to keep them healthy and enable them to produce milk.

In North America, silage prepared from alfalfa and corn is considered the ideal type of feed for dairy cows. The market for sophisticated silage inoculants and enzymes that can give cows the nutrients they need and maintain the nutrient quality of feed could expand.

For instance, in the United States, more than half of the choices regarding the production of milk are made by individuals or families running dairy farms. Producer-owned cooperatives are typically comprised of these farmers.

Milk from cooperative members is collected and transported to producers and processors. These dairy farm cooperatives have great vertical integration and manage their production and processing facilities. The ongoing growth of comparable cooperatives nationwide is anticipated to increase the need for better silage quality.

Key Takeaways from the Silage Inoculants and Enzymes Market Study

The United States silage inoculants and enzymes industry is anticipated to witness a CAGR of 5.2% from 2023 to 2033.
The United Kingdom is projected to reach a valuation of around US$ 33.8 million by 2033.
China is estimated to record a CAGR of 5.5% in the forecast period in the silage inoculants and enzymes industry.
Japan registered a steady CAGR of 7.8% in the historical period from 2018 to 2022.
Based on type, the homofermentative segment is anticipated to record a CAGR of 4.8% from 2023 to 2033.
In terms of species, the lactobacillus segment is projected to witness a CAGR of 4.6% in the assessment period.

“A growing trend toward improving the nutrition of animal feed could support the global market even more. This can be attributable to farmers’ increasing attention to improving the health and performance of their cattle. Demand might be increased by the ability of fish roe extracts and enzymes to enhance the nutritional content and digestibility of the silage.” – says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

Reputable firms in the silage inoculants and enzymes sector are concentrating on spending enormous sums on research & development. To deliver improved performance, they want to improve their current product offerings. Additionally, they are developing specific inoculants to cater to different silage and forage production methods.

Several other top companies in the silage inoculants and enzymes market are concentrating on growing their product portfolios to provide a broad selection of enzymes to suit multiple needs. In addition, they are developing socialized inoculants and enzymes for the dairy, meat, and poultry sectors of the livestock industry.

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For instance,

Alltech introduced Egalis, a new range of premium silage inoculants, in November 2022. In order to allow farmers to feed more and better silage while reducing feed waste, it maximizes nutrient quality retention while lowering dry matter loss. Egalis manages & drives forage fermentation using highly efficient homolactic bacteria and compounds that inhibit the growth of fungus.
Advance Maize Silage Inoculant was introduced in September 2021 by Micron Bio-Systems, a pioneer in animal feeding and agricultural goods based in the United Kingdom. Advance Maize is a crop-specific silage inoculant that offers the most effective fodder conservation method available. In order to improve the feed value, stability, and preservation of maize silage, the inoculant contains four crucial components.

Silage Inoculants and Enzymes Market Top Players

Biomin Holding GmbH
Kemin Industries, Inc.
Schaumann BioEnergy GmbH
Volac International Ltd

Get More Valuable Insights into Silage Inoculants and Enzymes Market Report

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global silage inoculants and enzymes market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the silage inoculants and enzymes industry based on type (homofermentative and heterofermentative), species (lactobacillus, pediococcus, enterococcus, and other species) and enzymes (fiber-digesting and starch-digesting) across several regions

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Plant Asset Management Market Aims for US$ 21.4 Billion by 2033, with 11.7% CAGR

The plant asset management market is poised for remarkable growth, with a projected value surpassing US$ 21.4 billion by the year 2033, propelled by an impressive CAGR of 11.7%. This forecast underscores the increasing significance of efficient management and optimization of industrial plant assets. The market’s robust growth is attributed to the rising adoption of advanced technologies, such as predictive maintenance, condition monitoring, and asset performance management, across various industries.

As organizations strive for operational excellence and cost-effectiveness, the Plant Asset Management Market is expected to play a pivotal role in enhancing the reliability and performance of critical assets, ultimately driving sustained growth over the forecast period.

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Key Takeaways from the Plant Asset Management Market Report:

The global plant asset management market to value US$ 6 Billion in 2022.
The global plant asset management market to record an 11.6% CAGR from 2022 -2032.
The global plant asset management market to value US$ 15 Billion from 2022 – 2032.
The U.S. market is anticipated to exhibit a 10.6% CAGR from 2022 to 2032.
India is projected to record a 9% CAGR during the forecast period.
The cloud segment is likely to expand at 10.2% CAGR in the forecast period.

Competitive Landscape:
Companies are working on different merger and acquisition tactics to gain a competitive advantage in the market. The following are the important actors in plant asset management:

ABB Ltd.
AB SKF
Bentley Systems
CGI Group, Inc.
Dassault Systèmes
Emerson
Endress+Hauser Management AG
General Electrical
Hitachi
Honeywell
IBM Corporation
IFS AB
Punzenberger COPA-DATA GmbH
Maxwell Technologies Inc
Oracle Corporation
Ramco Systems Ltd.
Rockwell Automation
SAP SE
Siemens
Schneider Electric SA
Yokogawa Electric Corporation

Recent key developments among players are:
In July 2022, GE revealed the brand names of the new firms that will be formed as a result of its planned split into three industry-leading, worldwide, investment-grade public companies focused on the expansion sectors of healthcare, energy, and aviation.
In July 2022, Hitachi High-Tech Corporation announced the development of a remote diagnostic service for on-board automobile lithium-ion batteries. The achievement of steady and efficient battery operation is becoming more critical for the deployment of electric cars. Hitachi High-Tech will begin recommending this service to worldwide clients via various networks to contribute to a circular society by resolving customer difficulties.

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More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Plant asset management market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Component (Solution (Asset Lifecycle Management, Predictive Maintenance, Work Order Management, and Inventory Management) and (Service, Professional Service, and Managed Service), Deployment (Cloud and On-premise), Asset Type (Production Assets and Automation Assets), By End-User (Energy & Power, Oil & Gas, Petrochemical, Mining & Metal, Aerospace & Defense, Automotive and Others) & Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)

Plant Asset Management Market Segmentation:

By Component:

Plant Asset Management Solution
Asset Lifecycle Management
Predictive Maintenance
Work Order Management
Inventory Management
Plant Asset Management Service
Professional Service
Managed Service

By Deployment:

Cloud
On-premise

By Asset Type:

Production
Automation

By End User:

Energy & Power
Oil & Gas
Petrochemicals
Mining & Metals
Aerospace & Defense
Automotive
Other End Users

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI):

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Nandini Singh Sawlani

Selective Laser Sintering Equipment Market Surges to US$ 4.2 billion by 2033

Selective Laser Sintering (SLS) equipment is a cornerstone technology in the 3D printing industry, enabling the creation of complex and functional prototypes and end-use parts. The selective laser sintering (SLS) equipment market is experiencing significant growth, driven by several key factors:

Current Scenario: A Thriving Landscape

Market Growth: Industry analysts predict the Selective Laser Sintering Equipment Market to reach over US$ 4.2 billion by 2033, with a remarkable Compound Annual Growth Rate (CAGR) of 18.6% [1]. This growth is fueled by the increasing adoption of 3D printing across various industries.
Technological Advancements: Manufacturers are constantly innovating, developing SLS equipment with faster printing speeds, improved resolution, and the ability to handle a wider range of materials. These advancements are expanding the applications of SLS and making it more competitive with traditional manufacturing techniques.
Material Diversity: The availability of new materials compatible with SLS is opening doors for various applications. From high-performance polymers for functional prototypes to biocompatible materials for medical devices, the material selection for SLS is constantly evolving.

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Opportunities for Manufacturers: A Melodious Tune

Focus on Innovation: Manufacturers who prioritize continuous improvement in printing speed, resolution, and material compatibility will be well-positioned to capture market share.
Industry-Specific Solutions: Developing SLS systems tailored to the specific needs of industries like aerospace, automotive, and healthcare will cater to a wider customer base.
Software Integration: Integrating powerful design and slicing software with SLS equipment can create a user-friendly and efficient workflow for customers.
Sustainability Focus: Developing eco-friendly SLS systems with features like reduced energy consumption and waste generation will resonate with environmentally conscious manufacturers.

Future Scope: A Harmonious Composition

- Industrial IoT and Cloud Manufacturing: The integration of SLS equipment with Industrial IoT and cloud-based platforms will enable remote monitoring, real-time data analysis, and predictive maintenance, optimizing production processes.
- Artificial Intelligence and Machine Learning: Integrating AI and machine learning into SLS systems can optimize printing parameters, automate post-processing steps, and even enable autonomous defect detection, leading to smarter and more efficient production.
- Multi-Material Printing: Advancements in technology may lead to SLS systems capable of printing parts with multiple materials within a single build, opening doors for complex and highly functional prototypes and end-use parts.
- Metal SLS: While still under development, Metal SLS holds immense potential for creating high-strength and functional metal parts directly from digital models, impacting various industries.

Space Management Solutions Market Set to Surpass US$ 1.89 Billion by 2032, With 7.8% CAGR

The global space management solutions market is expected to grow at a 7.8% CAGR from 2022 to 2032. The space management solutions market is expected to reach a valuation of around US$ 1.89 billion by the end of 2032, up from a current valuation of US$ 890 million in 2022.

The growing need to manage costly resources and actual extra space is driving the growth of the global space management solutions market. Furthermore, a significant factor that has recently contributed to the company’s growth is the growing interest in space management solutions in the retailing industry.

Throughout this forecast period, there is expected to be an increase in the reception of space management solutions beneficial for some organizations covering the management of prestigious crude assets at the beginning to retail outlet space for storing results. Likewise, the demand for space management solutions is expected to grow as more organizations use cloud-based space planning and management frameworks to advance with AI integration.

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As per the space management solutions market services, the major attraction is predicted to increase during the forecast years due to the growing global demand for computerized management of the complete lifecycle of the overall capacity process.

However, over the projected period, privacy and security concerns over personal data are anticipated to hinder space planning and management solutions market trends to certain degrees. Another significant factor anticipated restraining the worldwide market for space management systems is the rise in complexity and the absence of visibility across the entire portfolio of storehouses which causes delays in making decisions.

Key Takeaways from the Space Management Solutions Market Report:

The absolute growth of the global space management solutions market is estimated to be around US$ 1 Billion over the forecast decade covering the years 2022 to 2032, by following the average CAGR of 6.9%.
The hospital sector is the largest segment of the space management solutions market is also growing at a faster rate.
With a nearly 28.5% share of global sales and exports, the North American area dominates the global market for space management software.
On the other hand, Asia Pacific nations have had some exceptional development chances in recent years, and with a participation of around 22.6%, they have moved up to second place.

Competitive Landscape for the Global Space Management Solutions:
Some of the well-known space management solutions market players are Accurent, Symphony Retail Solutions, Trimble Navigation Limited, JDA Software Group, Inc., and Asset Works among others. With the entry of several new companies, the market for space management solutions as a whole is becoming more fragmented than it was previously due to the domination of a few key solution providers.

Several new players have emerged in the global space management solution sector in recent years as a result of sensing the enormous vacuum in the established market for delivering adequate solutions by continuously diverse working settings. As a key tactic to break into the business, numerous startup businesses have begun to offer support services as well for their vendors.

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Recent Developments in the Global Space Management Solutions Market:
In the year 2017, PointGrab that is a famous workplace management software developing company, and Serraview Company signed a long-term agreement. To increase the company’s business of space management software, PointGrab is renowned for producing Cognipoint edge-analytics sensing and actuation solutions.

Space Management Solutions Market Segmentation:

By Solution Type:

Real estate
workplace management
Omni channel retail solutions
Others

By Services:

Facility management services
Professional services
Others

By End User:

Retail
Telecommunication
Healthcare
Manufacturing
Utilities
Others.

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Nandini Singh Sawlani

Travelport GDS Systems Market Sets Sights on US$ 1,480.3 Million by 2033 | FMI

According to Future Market Insights’ most recent research, the global travelport GDS systems market will generate US$ 921.4 million in sales by the end of 2023. The Travelport GDS systems market is expected to increase over the long run, reaching around US$ 1,480.3 million in 2033.

Technology governs the present-day travel and tourism industry. Automation has a prosperous future for the dynamic travel and tourism industry. Among travel and tourism automation GDS is a prospering network system highly in demand by travel operators.

It is an online system which manages travel portals for travel operators or agents and assists in activities such as ticket booking, rates, delivery inventory, discounts, rooms, descriptions and many other functionalities. Some companies come up with GDS systems for the travel domain; some of them listed are – Amadeus, Expedia, Hotwire, Kayak, Orbitz, Priceline, Sabre, Travelocity, and Travelport.

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Among these companies Global Distribution Systems or GDS are known by four types, they are Amadeus, SABRE, Travelport (Galileo or Worldspan), and Abacus. The Travelport is the GDS system that assists travel operators in booking flight tickets. As the travel operators use it hence it is in the B2B market and not meant for B2C or end users.

It gives all kind of information required to agents for answering customer queries as well as helps in managing their database while making ticket bookings.

Travelport was formed in 2006. Travel data of the tourism industry redefines the data in distribution systems connecting the core features of airlines and the subsidiary products. The organisation is also known for strengthening the track to meet the rising need of the travel business which includes railways, hotels, tour operators, cruise and car rentals.

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GDS Travelport provides services to more than 170 countries across the globe. North, Latin America, Western Europe, the Middle East and Asia-based tourism management companies and many travel operators use this technology abundantly to benefit themselves from services such as handling customer portals (including contact details, product specials, latest news or detailed support information), ticket booking, new product advisory, price analysis and much more.

Travelport GDS Systems: Drivers, Trends and Opportunity Analysis

The control of technology over the travel and tourism industry has created a tremendous opportunity for the growth of the GDS travelport system. It is now becoming a trend, and most of the travel agents prefer using these GDS systems to manage bookings.

GDS Travelport not only supports insiders in managing their work and booking tickets, but it also helps them strategize future market approaches. GDS Travelport has influenced many private and government parties to invest in developing travel-related tools that can switch the revenue channels.

Many travel agencies or travel management companies prefer Travelport for booking flights because, doing this will benefit them more with many facilities as GDS Travelport can offer travel fares and prices on behalf of airlines as per IATA’s industry standard; this is because GDS Travelport is the first GDS that is labelled as NDC certified.

GDS Travelport also helps airlines merchandise their offering and brand schemes to Travelport using travel operators as well as travel management companies globally, in which more than 200 airlines are already practicing this technology. Using Travelport Universal API, online travel agencies can also avail the information directly.

Travelport GDS Systems: Limitations

Although GDS Travelport is widely used amongst many travel agents and travel management companies, there are some hitches that limit the adoption of GDS Travelport. Some of them are the cost of GDS based software and competition with other GDS based networking system companies.

Mostly, workers connected with travel management companies are habituated to manual work and a shift towards technology is another limitation that can slow down the growth of GDS Travelport to some extent. Due to the downturn in the global economy, many corporate travels have dropped, and this has also impacted the growth of GDS Travelport adoption.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Travelport GDS Systems Market by Category

By Age:

Under 15
16-25
26-35
36-45
46-55
Over 55

By Visit Purpose:

Business Travel
Leisure Travel
Education-Employment-Pilgrimage
Visiting Friends & Relatives

By Consumer Orientation:

Individual
Couples
Families
Group

By Tour Type:

Individual travel
Professional Groups
Group travels

By Tourism Type:

Domestic
International

By Application:

Flights
Hotels
Car rentals
Cruises and Ferries
Railways

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

On Track for Growth: Ethno Tourism Community Based Eco Tourism Market to Hit US$ 88,003 Million by 2033 | FMI

The global ethno tourism community based eco tourism market is expected to accrue a valuation of US$ 88,003 million by 2033, scaling up from US$ 12,201 million in 2023. The target market is set to grow at an astounding CAGR of 21.8% from 2023 to 2033. This market is primarily driven by a surge in the per capita income at individual levels. The rising awareness of the positive influence of ethno-tourism on society and the environment also supplements the growth of the ethno-tourism community-based eco-tourism market in this period of observation.

Ethno-tourism provides a platform where people can discover ethnic populations and learn more about unique cultures and customs by visiting and interacting with locals. Ethno-tourists travel all over the world to experience native culture and enhance their understanding of native people. This subset of tourism is particularly prevalent in geographies with diverse populations, rich histories, and legacies such as Africa, India, Japan, and others.

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Ethno-tourism community-based eco-tourism includes native performances, presentations, and acts put on by a region’s indigenous population. This type of tourism also provides a broader perspective on village-based tourism, cultural anthropology, and tribal heritage. Since it is difficult to distinguish ethnic tourism from the landscape it occurs in, ethno-tourism is intertwined with ecotourism. However, ecotourism is another segment under travel and tourism where travelers visit different locations with the purpose of enjoying nature. Initiatives from different tourist boards and favorable government policies with variations in tour types will facilitate the growth of the ethno-tourism community-based eco-tourism market during the forecast period.

Increasing per capita income and the experience that travelers get from engaging with different cultures act as growth drivers for the ethno-tourism community-based eco-tourism market. As the younger generation and urban population of various countries grow more open towards other cultures, and there continues to be a rise in per capita income, the demand for ethno-tourism community-based eco-tourism market will also rise over the projection period.

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Key Takeaways:

With the expanding tourism sector in India, the ethno-tourism and eco-tourism sectors will also undergo strong growth as travelers seek out ethnic experiences at popular and attractive locations.
South African region is expected to dominate the global ethno-tourism community-based eco-tourism market during the assessment period.
By tour type, the group category will generate greater demand for the market during this period.
Based on age group, the 21-35 segment has been observed to prefer ethno- and eco-tourism as compared to other age groups.

Competitive Landscape

As a labor-intensive market, ethno-tourism community-based eco-tourism has immense economical benefits. Significant market players are keen on offering various tour programs including guided tours and ethnic cuisine experiences. Engagement with the local environment and culture offered by this type of tourism has more advantages than disadvantages for a nation.

More Insights into Ethno Tourism Community Based Eco Tourism Market

FMI offers the latest, detailed, and unbiased analysis of the global ethno-tourism community-based eco-tourism market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of age, demographic, nationality, tour type, and region.

According to the reports, based on segmentation, online booking channels are the most popular as it offers more options and convenience. In terms of age group, the 21 to 35 category is the most common age group to opt for ethno-tourism. The group tour type also opens growth avenues for the market.

Based on region, the ethno-tourism community-based eco-tourism market in South African terrains will dominate the global marketplace. The target market in this region is shaped by rich cultural, linguistic, and natural backgrounds. The ethno-tourism market has also been beneficial to the regional economy by creating more jobs and earning opportunities. In addition to the southern African subregion, India also presents notable growth in the ethno- and eco-tourism market. Many travelers are attracted to popular and pleasing locations within India where they can garner a better knowledge of native people, life, and culture. All of these considerations propel the ethno-tourism community-based eco-tourism market forward in the upcoming years.

Ethno-Tourism Community Based Eco Tourism Market by Category

By Age:

Under 18
18-25
26-35
36-45
46-55
Over 55

By Demographic:

Male
Female
Kids

By Nationality:

Domestic
International

By Tour Type:

Group
Solo

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani