Market Research Blog – Page 828 – New Product Development

Litigation Funding Investment Market is Projected to Grow at a Strong CAGR of 9.6% by 2033 | Future Market Insights, Inc.

The litigation funding investment market is predicted to be worth USD 17,160.8 million in 2023 and rise to USD 43,048.3 million by 2033. Demand was initially expanding at a market CAGR of 7.5% between 2018 and 2022.

A lucrative road map for the litigation funding investment business is expected to be outlined as a result of the rising number of lawsuit funders in different nations. The rise in the number of high-value legal conflicts involving numerous jurisdictions raises the demand for litigation funding.

As third-party financing is becoming more widely accepted and understood, the litigation finance sector is expanding dramatically. For instance, a study of more than 500 chief financial officers and senior finance professionals was undertaken throughout the United States, the United Kingdom, and Canada by the law firm Omni Bridgeway.

Due to the non-recourse nature of litigation funding, which means that if the firm loses the lawsuit, they owe nothing to the funder, which hampers the market expansion.

Plaintiffs and law firms explore innovative methods to combine legal expenses with successful outcomes. Also, as financiers delve further into alternative investments, the market is likely to expand.

Key Takeaways

By 2033, the litigation funding investment market in the United Kingdom is likely to expand, with a CAGR of 8.9%.
In 2022, the United States dominated the litigation funding investment sector, with a share of 17.3%.
The litigation funding investment market was significantly expanding, with a size of USD 15,889.7 million in 2022.
By 2033, the litigation funding investment market in China is likely to expand, with a CAGR of 12.5%.
In 2022, Germany expanded significantly in the litigation funding investment business, with an expected share of 8.5%.
The litigation funding investment sector is expected to develop at a USD 22,592.75 million valuation by 2026, due to the rising popularity of portfolio financing.
By 2033, India is projected to expand significantly in the litigation funding investment market, with a share of 10.6%.
Japan’s litigation funding investment industry share expanded significantly, with a 6.4% share in 2022.
In 2022, commercial litigation held a top spot in the market with a share of 53.7%. It is expected to dominate the market by 2033 owing to the growing complexity of business disputes.
Based on the enterprise size, the large enterprise dominated the market with a share of 63.4% in 2022.

Competitive Landscape

Leading companies in the litigation finance industry are broadening the types of cases and jurisdictions they participate in, while also attempting to have a worldwide presence. With the growth of financing firms, funders are setting up offices all over the world.

Key Players

Parabellum Capital
Bentham Capital
Juridica Brickell Key
Burford Capital LLC
Woodford Litigation Funding Ltd
Apex Litigation Finance
Omni Bridgeway
Vannin
Augusta Ventures
Longford Capital Management LP
Calunius Capital
Harbour Litigation Funding Ltd

Recent Developments in the Litigation Funding Investment Sector

CourtQuant, a new artificial intelligence (AI)-based legal AI company, was introduced by Apex Litigation Finance in April 2019. CourtQuant’s study would serve as a tool for evaluating the risk of lawsuit outcomes.
An interim finance fund with a focus on health care was introduced by Fintech startup LegalPay in January 2022. Retail investors joined by investing some cash through fractional ownership in asset-backed legal and debt-financing asset classes.

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Key Segmentation

By Type:

Commercial Litigation
Bankruptcy Claim
International Arbitration
Personal Injury

By Enterprise Size:

Micro, Small, and Medium Enterprises (MSMEs)
Large enterprises

By End User:

Banking, Financial Services, and Insurance Sector (BFSI)
Media & Entertainment
IT & Telecommunication
Manufacturing
Healthcare
Others (Travel & Hospitality)

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Power over Ethernet Solutions Market is Expected to See a Growth of 9.2% CAGR by 2033 | FMI

According to Future Market Insight, the global power over Ethernet (PoE) solutions market is projected to reach a value of USD 2.5 billion by 2033, registering a CAGR of 9.2%. This is a considerable increase from its present value of USD 1.0 billion in 2023.

The increasing demand for cost-effective communication is primarily driving market growth. Implementing PoE technology allow transferring of data signals. This leads to cost savings by eliminating the need for multiple cable networks.

Utilizing PoE eliminates the necessity for power supplies to power devices. This reduces overcrowding in the network of powered devices. It also simplifies circuit connections and requires less space. Additionally, PoE setups can be easily removed and quickly reinstalled. As a result, an increase in devices are adopting PoE technology.

The market is booming given the rising acceptance and utilization of optical fiber cables in communication. Optical fiber cables work better than copper cables in challenging environments. Their susceptibility to electromagnetic interference, flexibility, and high reliability make them superior.

PoE systems are widely used in wireless monitoring and safety. Additionally, this technology assists with infrastructural projects including smart grid projects, smart cities, and smart buildings. The deployment, flexibility, and stability of office networks can potentially be improved by using PoE solutions.

The world is witnessing an increasing adoption of power over automation and data center networking. Demand for smart offices is increasing across the globe. Additionally, emerging economic and technical trends offer significant opportunities for PoE providers. Industry players are making investments to develop countermeasures. These factors are expected to fuel the power over Ethernet industry expansion.

In terms of revenue, North America emerged as the dominant region in the PoE solutions market. Increasing utilization of high-speed internet is anticipated to drive the demand for PoE chipsets in the region. Demand for efficient and reliable power and data transmission solutions grows with the expanding use of high-speed internet.

Thus, PoE chipsets are expected to play a crucial role in meeting these requirements. This trend is likely to contribute to the continued market growth in North America.

Significant Takeaways from the Power over Ethernet Solutions Market:

The power over Ethernet solutions industry in the United States is predicted to reach USD 813.8 million by 2033
The PoE solutions industry in the United Kingdom is estimated to expand at a CAGR of 8.3% between 2023 and 2033
During the forecast period, the power over Ethernet solutions industry in China is expected to reach a market share of USD 211.3 million
The PoE solutions industry in Japan is predicted to boom at an 8.6% CAGR through 2033
South Korea’s power over Ethernet solutions industry is predicted to achieve a market share of USD 99.6 million by 2033
With a CAGR of 9.1% from 2023 to 2033, the powered device controllers & ICs segment is expected to dominate the PoE solutions industry
With a CAGR of 9.0%, the connectivity segment is expected to dominate the power-over-Ethernet solutions industry until 2033

Competitive Landscape

Power over Ethernet solutions market participants uses a variety of tactics to acquire a competitive edge. To increase the effectiveness of their PoE solutions, they concentrate on research and development. They put a lot of effort into research and development to increase product efficacy.

They also place a strong emphasis on distinguishing their products by providing a variety of PoE devices. To increase their clientele, they also place a high priority on strategic alliances and cooperation with IT service providers.

Key Players

Maxim Integrated Products Inc.
Texas Instruments
Analog Devices
Microsemi Corp.
STMicroelectronics N.V.
Broadcom Ltd.
Monolithic Power Systems, Inc.
On Semiconductor Corp.
Cisco Systems Inc.
Silicon Laboratories Inc.
Kinetic Technologies

Recent Developments

Texas Instruments unveiled a brand-new Ethernet physical layer (PHY) in October 2020. It can send 10-Mbps Ethernet signals 1.7 kilometers over a single pair of twisted wires.
PM8804 and PM8805 power over Ethernet chipsets for 5G and smart-building applications were introduced by STMicroelectronics in April 2019.

Power over Ethernet Solutions Market Segmentation

By Type:

Power Sourcing Equipment Controllers & ICs
Powered Device Controllers & ICs

By Device Type:

Power Sourcing Equipment
Powered Devices

By Application:

Connectivity
Security & Access Control
Infotainment
LED Lighting & Control
Others

By Vertical:

Residential
Commercial
Industrial

By Region:

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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AI Builder Market: Forecasting a Path to a US$ 20.1 Billion Valuation by 2033

The global AI builder market is forecast to reach US$ 5.1 billion in 2023. Over the next ten years, global demand for AI builders is expected to increase at 31.1% CAGR. This will take the total market valuation to US$ 20.1 billion by 2033.

Growth in the market is driven by several factors. This includes the quick development of emerging nations, high penetration of digitalization, and the increasing need for workflow automation.

AI builders are becoming necessary as a result of the growing demand for automation and digital transformation across industries. As businesses seek to become more efficient and effective, they are turning to AI builders to help them automate processes, gain insights from data, and improve decision-making.

Increasing availability of data and advancements in computing power, which are making it easier and more cost-effective to develop and deploy AI solutions will support market expansion.

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Growing popularity of cloud computing and the rise of the Internet of Things (IoT) are also contributing to the growth of the AI builder market. This is because AI technologies provide new avenues for collecting and analyzing data.

The market is flooded with opportunities that provide the ability to automate repetitive tasks, improve decision-making processes, reduce costs, and enhance customer experiences. AI can be applied in industries such as healthcare, finance, manufacturing, and retail, among others, to drive innovation and transformation.

The growth of the AI builder market is also expected to create new job opportunities for professionals skilled in developing and implementing AI solutions.

Further, AI builders can expand into emerging markets to tap into the growing demand for advanced technologies and cater to the unique needs of these regions. Overall, the opportunities for AI builders are vast, and the market is poised for significant growth in the coming years.

Key Takeaways from the AI Builder Market Report:

The worldwide AI builder industry is forecast to expand at 1% CAGR through 2033.
Based on type, conversational AI builder segment is expected to exhibit a 7% CAGR from 2023 to 2033.
By industry, healthcare segment is forecast to progress at 6% CAGR during the assessment period.
The United States AI builder industry is predicted to reach US$ 5.09 billion by 2033.
The AI builder industry in the United Kingdom is forecast to exhibit a CAGR of 4% through 2033.
AI builder demand in China is expected to rise at 6% CAGR during 2023 to 2033.
The AI builder industry in Japan is forecast to reach a valuation of US$ 1.13 billion.
India’s AI builder industry is likely to expand at 8% CAGR during the forecast period.

Who is Winning?

Leading AI builder solution providers profiled in the report include Microsoft Corporation, IBM Corporation, Google LLC, Amazon Web Services, Inc., and Automation Anywhere.

Prominent companies are focusing on research and development initiatives to develop new and innovative solutions. They are also expanding their product portfolio and strengthening their distribution channels to meet evolving customer needs.

Several companies are also using strategies such as mergers, partnerships, acquisitions, and collaborations to expand their presence.

Recent Developments:

In 2023, Microsoft announced next-generation AI tools for power platforms.

More Insights Available

Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the global AI builder industry presenting historical market data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study reveals market projections based on type (conversational AI builder, predictive AI builder, chatbot builders, workflow automation builders, and others), deployment (on-premises and cloud-based), enterprise size (small enterprises, medium enterprises, large enterprises), and industry (healthcare, BFSI, IT & telecom, manufacturing, government, retail & consumer goods, and others) across various regions.

AI Builder Market Segmentation

By Type:

Conversational AI Builder
Predictive AI Builder
Chatbot Builders
Workflow Automation Builders
Others

By Deployment:

On-Premises
Cloud-Based

By Enterprise Size:

Small Enterprises
Medium Enterprises
Large Enterprises

By Industry:

Healthcare
BFSI
IT & Telecom
Manufacturing
Government
Retail & Consumer Goods
Others

By Region:

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

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AI Deception Tools Market 2023 Future Analysis, Demand by Regions and Opportunities with Challenges 2033

The AI deception tools market is predicted to grow rapidly, reaching $288.4 million by 2023. According to industry experts, this market is likely to rise at a strong CAGR of 24.6% throughout the forecast period, potentially reaching a staggering $2,608.5 million by 2033. This abrupt rise might be attributed to the increasing use of cybersecurity technologies, which needs advanced IT security solutions.

Attackers can get access to cloud systems using a variety of techniques, including phishing, malware, and other methods. As a result, cloud systems will need more sophisticated security measures, such as AI deception techniques.

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Attackers that use the internet to circumvent conventional security measures are continuously changing their strategies. They make use of zero-day exploits, social engineering, and spear phishing, among other methods. These could make it difficult for conventional security methods to identify and counteract them.

Artificial intelligence (AI) deception tools use machine learning and AI algorithms to adapt to these cutting-edge methods. By doing so, you can improve your ability to detect threats and stay one step ahead of attackers.

AI is used by deception tools to track network activity and spot suspicious activity or unusual patterns. They can trick attackers into disclosing their location and their goals by fabricating plausible-looking but phony assets like decoy servers, files, and credentials. Early detection enables firms to act quickly, reducing the potential harm brought on by cyber threats.

Traditional security systems frequently produce a large number of false positives, warning security teams about potential risks that turn out to be unimportant. Alertness weariness and ineffective resource use may result from this.

AI deception technologies analyze data and weed out false positives using sophisticated algorithms, giving security teams more precise and proactive alarms. Organizations may concentrate on real risks and respond more skillfully by minimizing false positives.

Security information and event management (SIEM) systems are one example of current security infrastructure that AI deception technologies are made to effortlessly interface with. Organizations may take advantage of their current security investments thanks to this integration. These assist in enhancing their functionality with deception-based technologies, which facilitates the adoption and use of these products.

Key developments in the market for AI deception tools:

Illusive Networks announced a partnership with Microsoft. This helped in integrating its deception technology with Microsoft Defender for Endpoint to enhance threat detection and response capabilities
Attivo Networks announced the launch of a new solution, the Threat Defend Deception Platform. It uses AI and machine learning to detect and respond to cyber threats.
Acalvio announced a partnership with Siemens, integrating its deception technology with Siemens’ cybersecurity portfolio. It would enable the company to provide customers with advanced threat detection and response capabilities.

AI Deception Tools Market Outlook by Category

By Tools:

Generative Adversarial Networks (GANs)
Fuzzing Tools
Attack Simulation Tools
Data Poisoning Tools
Others

By Industry:

Healthcare
BFSI
IT & Telecom
Government
Retail & Consumer Goods
Others

By Enterprise Size:

Small Enterprises
Medium Enterprises
Large Enterprises

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa

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Laser Trackers Market to Reach USD 891.4 Million, Globally by 2033 at 11.4% CAGR: Future Market Insights, Inc.

The global laser trackers market is forecast to expand at 11.4% CAGR over the estimated time period. The industry’s size is predicted to reach a market value of USD 302.8 million in 2023. The laser trackers market is poised for significant growth, aiming to reach a substantial market value of USD 891.4 million.

The laser trackers are projected to observe heightened demand in manufacturing industries. The laser-based technologies offer cutting capabilities or wielding with high accuracy. Such application of laser tracker is well-suited for automotive, robotics, and industrial sectors owing to its capacity to alter and manipulate any material.

The usage of laser tracking also makes possible faster development of goods with high precision, while using meagre materials and resources. Laser trackers combine insights with production processes that offer improved quality control, reduce cycle times, and enhance throughput or output rates. Eventually, the laser trackers facilitate companies that are manufacturing large-scale precision machining equipment.

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Laser tracker system is increasingly used in reverse engineering and 3D measurement. Laser tracker offers precision for the alignment of shaft and rail, weapon system, RADAR dish profiling, and aircraft rigging. The laser tracker is extensively used in applications like calibration and reverse engineering due to its portability. In the aerospace industry, laser trackers help with the wing component assembly and jig component inspection.

On the regional front, Asia Pacific takes home a significant market share presently. For the forecast period, the same trend is estimated. India, China, and Japan are expected to emerge as the leading markets for laser trackers in the region. India is observing a boom in the automotive industry. In terms of volume, the market is expected to hold a prominent share over the forecast period. Owing to the thriving electric vehicle segment, the demand for laser trackers is expected to flourish in the country.

Key Takeaways from Laser Trackers Market Report:

The United States laser trackers industry is projected to be valued at USD 164.3 Million by 2033. During the estimated time period, the market is expected to expand at 11.3% CAGR.
The United Kingdom industry is assessed to attain USD 33.2 Million by 2033 end. During 2023 and 2033, the market is anticipated to extend at a CAGR of 11.2%.
The China laser trackers industry is slated to achieve USD 222.5 Million by 2033. During the forecast time frame, the market is forecast to perceive a noteworthy CAGR of 11.4%.
The Japan market is estimated to attain USD 174.9 Million by 2033. In the next 10 years, the market is expected to expand at a CAGR of 11.3%.
In South Korea, the market is anticipated to reach USD 40.2 Million by the end of the estimated period. During the projection period, the market is assessed to expand at a CAGR of 10.7%.
On the basis of application, the quality control and inspection segment is expected to lead the market. During the coming years, the market is expected to register a CAGR of 10.8%.
Based on end-use, the aerospace and defense segment is expected to be a prominent segment over the forecast period. The assessed CAGR is expected to be 10.6%.

Leading Key Players in the Laser Trackers Market:

Nikon Corporation
Keyence Corporation
SGS SA
FARO Technologies, Inc.
Hexagon AB
Leica Geosystems AG
Nikon Metrology, Inc.
Mitutoyo Corporation
Automated Precision, Inc.
Egismos Technology Corporation

Recent Developments in the Laser Trackers Market

In April 2022, Hexagon introduced a novel wireless laser tracker system that helps provide precision within 50 microns throughout 60 meters measuring volume in diameter.
In July 2019, Automated Precision, Inc officially declared the acquisition of Exact Laser Measurement, which is a leading supplier of portable metrology services to the automotive and aerospace sectors in North America.

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Global Hypercalcemia Treatment Market Set to Reach USD 55.07 Billion by 2033, Expanding at an 11.8% CAGR

The global hypercalcemia treatment market is forecast to attain a valuation of USD 18.07 billion by the end of 2023. With an impressive compound annual growth rate (CAGR) of 11.8% over the next decade, the market is expected to reach USD 55.07 billion by 2033.

This growth is driven by the increasing prevalence of hypercalcemia, a condition often associated with cancer, kidney disease, and certain endocrine disorders. Additionally, the continuous advancements in treatment options, including medications and therapies that effectively manage calcium levels in the blood, are contributing to the market’s rapid expansion.

Hypercalcemia Treatment Market Trend Analysis

Improvements in hypercalcemia prognosis and diagnosis procedures for early detection of high calcium levels in blood.
Growing investment by market players in research activities for the development of novel and effective hypercalcemia medications.
Collaboration of hospitals and other healthcare institutes with private players providing hypercalcemia pharmaceuticals.
The proliferation of healthcare service-providing companies by the adoption of hypercalcemia emerging therapies.
The increase in drug-related adverse effects has posed a significant challenge to hypercalcemia treatment services.

Market Analysis of Hypercalcemia Treatment Market from 2018 to 2022 vs. Market Outlook for 2023 to 2033

The market value for the hypercalcemia treatment was nearly US$ 25.3 billion which is 57.8% of the global endocrinology drugs market in 2022. According to a global market survey, overall demand for hypercalcemia treatment services, in terms of value was around US$ 9.64 billion in 2018.

There has been a stagnated rise across product segments of this market from 2018 and 2022. Further, the lockdown due to COVID-19 caused supply chain disruptions and discontinued business operations. As many biopharma companies had to wait for the availability of new batches of raw material for hypercalcemia drug production, the hypercalcemia treatment facilities also reduced their service offerings.

Competitive Landscape

Companies indulged in developing hypercalcemia drugs and treatment therapies are actively seeking to strengthen their position through approval, and agreements with established healthcare institutes. Also, collaborations, mergers & acquisition partnerships with regional players can accelerate their strategy to capture a significant share of the emerging markets.

The emergence of many biotech firms for conducting research and development on hypercalcemia diagnosis and therapy also could be a factor for further market growth. They are developing medicines and APIs manufactured in individual and combination doses for the treatment of hypercalcemia associated with thyroid tumors and other illnesses.

Key Developments

In April 2021, Novartis AG announced a collaboration with Artios Pharma. This collaboration was made to improve both companies’ discovery platforms, leverage their knowledge, and improve the potential of radio ligand therapies for treating cancers of both companies.
In June 2021, Bayer AG and Aurexel Life Sciences published their collaborative article reports where they announced promising results with the use of combination therapy of radium-223 and bortezomib. It was used for treating multiple myeloma bone disease.
In September 2021, Sunovian Pharmaceuticals announced a joint development and collaboration with Otsuka Pharmaceutical Co. This collaboration was made as an effort to improve the research and development activities to improve their production of novel drug compounds.
In January 2021, Bayer AG announced the USA FDA priority review for their New Drug Application for Finerenone drug used to treat patients with chronic kidney disease and associated Type 2 diabetes.

Key Companies Profiled

Amgen Inc.
Pfizer Inc.
Mylan N. V.
Sunovion
Procter And Gamble
Apotex Corporation
Genentech, Inc.
Novartis AG
Bayer AG
Hoffmann La Roche
Atnahs Pharma
Cipla Inc.
Sun Pharmaceuticals Industries Ltd
Dr. Reddy’s Laboratories
Aurobindo Pharma Limited

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Key Market Segments Covered In Hypercalcemia Treatment Industry Research

By Product:

Bisphosphonates
- Clodronate
- Ibandronate
- Pamidronate
- Zoledronic Acid
Calcitonin
Glucocorticoids
Denosumab
Calcimimetics

By Distribution Channel:

Hospitals
Clinics
Independent Pharmacy & Drug Stores

By Region:

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

Author By:

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

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

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

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Global Portable Battery Pack Market is Predicted to Reach a worth of US$ 55.34 Billion by forecast period 2033 end at 12.6% CAGR | Future Market Insights, Inc.

The global portable battery pack market is forecast to expand at 12.6% CAGR over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 16.89 Billion in 2023 and US$ 55.34 Billion by 2033.

The market is positively influenced by the ongoing investments in portable battery packs by governments across the globe. For instance, the Government of India is investing in the manufacturing of lithium-ion batteries in Gujarat. This, along with the surging demand for electronic gadgets in India owing to the availability of discretionary income is fueling market growth.

The market is also powered by the growing awareness among the masses about healthcare, in addition to the increasing use of portable medical equipment. Robust urbanization in developing economies is further fueling product demand. Significant growth opportunities in the Asia Pacific are propelling the market growth. Owing to high sales of electronic equipment, especially smartphones, the region is expected to witness a high adoption rate of portable battery packs.

Emerging regulations by the government to dispose of e-waste caused by electronics might confine the growth prospects for portable battery packs. The adoption of technologies that might render the portable battery pack obsolete is also a key threat to the market.

Top Highlights from the FMI’s Analysis:

The United States portable battery pack industry is projected to be valued at US$ 8.57 Billion by 2033. During the forecast period, the market is expected to assume a growth rate of 3% CAGR.
The United Kingdom market is assessed to achieve US$ 1.44 Billion by 2033 end. From 2023 to 2033, the market is anticipated to expand at a CAGR of 9%.
The China portable battery pack industry is slated to achieve US$ 14.03 Billion by 2033. During the forecast time frame, the market is projected to perceive a significant CAGR of 14.1%.
The Japan market is estimated to attain US$ 8.57 Billion by 2033. In the next 10 years, the market is expected to expand at a CAGR of 8%.
In South Korea, the market is forecast to reach US$ 3.39 Billion by the end of the estimated period. During the projection period, the market is assessed to expand at a CAGR of 13%.
Based on product type, smartphones are emerging as the top segment. During the coming years, the market is expected to expand at a CAGR of 4%.
Based on the capacity range, 2,510 MAH to 5,000 MAH is expected to surface as the leading segment in the upcoming years. The estimated CAGR for this segment is 5%.

Stay Updated with Recent Developments:

In the forecast period, it is projected that the advent of new charging technologies and batteries is expected to entirely change the charging scenario of electronics.

In August 2022, Lenovo introduced a portable USB-C battery to power a laptop. The product has been launched under the category of the new Lenovo Go brand to bridge the gap between WFH and WFO. More accessories are on their way, as per the company’s statement.
Oppo offered its line of magnetic wireless chargers in August 2021. These chargers are projected to operate the same as Apple’s MagSafe. The line contains a 20W charging output and a 4500 mAh battery.

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Global Elevator and Escalator Market Projected to Achieve a Remarkable CAGR of 7.2 %, Reaching USD 138.2 Billion by 2033

The global elevator and escalator market is anticipated to reach a valuation of USD 69.0 Billion in 2023, driven by vertical farming and agriculture. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.2% between 2023 and 2033, and reaching a total valuation of approximately USD 138.2 Billion by 2033.

One of the major factors contributing to the growth of the elevator and escalator market is the accessibility initiatives. There is an increasing emphasis on improving accessibility in public and private buildings, leading to a demand for elevators and escalators that cater to individuals with disabilities and limited mobility.

The demand for high speed elevators in skyscrapers and mega tall buildings, especially in emerging economies, is driving innovation and expansion in this segment. Elevators and escalators are increasingly integrated with Building Management Systems to optimize energy usage and operational efficiency, and this trend is expected to continue.

Remote monitoring and predictive maintenance technologies are becoming more prevalent, reducing downtime and improving service quality. The use of sustainable materials and manufacturing processes is gaining importance in elevator and escalator production to reduce their environmental footprint.

The development of multi modal transportation hubs, such as airports and train stations, requires extensive elevator and escalator installations to manage passenger flow. In regions prone to natural disasters, the need for elevators and escalators that can withstand earthquakes, floods, and other emergencies is growing.

Architects and builders are increasingly focusing on the aesthetic appeal of elevators and escalators, creating opportunities for customized designs and finishes. The sharing economy model, with companies offering shared office spaces and co living arrangements, drives the demand for elevators in non traditional settings.

Elevator and escalator manufacturers may explore opportunities in international markets, particularly in regions with emerging economies. The integration of energy storage solutions with elevators and escalators to manage peak power demands and reduce grid dependency.

The need for skilled technicians to install and maintain elevator and escalator systems creates opportunities for workforce development and training programs. The development of smart lounges that offer personalized experiences for users while they wait for elevators is a growing trend.

Key Takeaways from the Market Study:

Global elevator and escalator market was valued at USD 64.6 Billion by 2022-end.

From 2018 to 2022, the market demand expanded at a CAGR of 6.8%.
The market in China is expected to expand at a CAGR of 8.6% through 2033.

By load, the passenger segment to account for a share of 74.1% in 2023.

From 2023 to 2033, elevator and escalator market is expected to flourish at a CAGR of 7.2%.
By 2033, the market value of elevator and escalator is expected to reach USD 138.2 Billion.

Continued innovations in safety features, including emergency evacuation systems and anti terrorism measures, contribute to market growth. Hybrid elevator solutions that combine traditional cables with alternative systems like magnetic levitation (maglev) for increased efficiency, remarks an FMI analyst.

Competitive Landscape:

Prominent players in the elevator and escalator market are Mitsubishi Electric Corporation, Orona Group, Otis Elevator Company, Sanyo Elevator (Zhuhai) Co. Ltd., Schindler Holding Ltd., Schumacher Elevator Company, Sigma Elevator Company, Stannah Lifts Holdings Ltd., Thyssenkrupp AG, Toshiba Corporation, Hitachi Ltd., and Hyundai Elevator Co. Ltd., among others.

Recent Developments:

In 2023, Hitachi Elevator, a Japanese multinational elevator and escalator company, announced the launch of its new elevator technology, Lumada Elevator, which uses AI and IoT to improve elevator performance and efficiency.
In the same year, Otis Elevator Company, an American multinational elevator and escalator company, announced the launch of its new elevator technology, CompassPlus, which is designed to be more user friendly and accessible.
In 2022, LG Elevator, a South Korean multinational elevator and escalator company, announced the launch of its new elevator technology, MULTI V VRF, which uses variable refrigerant flow technology to improve energy efficiency.
In 2022, Hyundai Elevator, a South Korean multinational elevator and escalator company, announced the launch of its new elevator technology, WIZARD, which is designed to be more intelligent and responsive to user needs.
In the same year, Johnson Controls, an American multinational technology and industrial company, announced the launch of its new elevator technology, YORK Chillers, which are designed to be more efficient and reliable.

Segmentation Analysis of the Elevator and Escalator Market:

By Product:

Hydraulic Elevators
Traction Elevators
Machine Elevators
Room Less Elevators
Step Type Elevators
Belt Type Elevators
Cleat Type Elevators
Spiral Elevators
Vacuums

By Load:

Passenger
Freight
Observation

By Installation:

New System & Installation
Retrofit

By End User:

Residential
Commercial
Hostels
Hospitals
Infrastructure & Construction
Transportation & Logistics

Region:

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

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Author:

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

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

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

About Future Market Insights (FMI)

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Syringes and Needles Market in GCC Projected to Reach USD 1,164.90 Million by 2034, Growing at a 5.4% CAGR

The market for syringes and needles in the Gulf Cooperation Council (GCC) region is poised for significant growth, with sales expected to reach USD 688.5 million in 2024. The market is forecast to grow at a compound annual growth rate (CAGR) of 5.4%, ultimately reaching an estimated valuation of USD 1,164.9 million by 2034.

This growth is fueled by increasing healthcare requirements, advancements in medical treatments, and the growing adoption of syringes and needles in both hospitals and homecare settings. The rising demand for vaccinations, insulin delivery, and various injectable medications is further propelling the market expansion.

Key Insights – Highlights on the Emerging Opportunities in the GCC Syringe and Needle Industry

GCC countries, specifically Saudi Arabia and the United Arab Emirates, are becoming popular travel destinations for medical tourists looking for high-quality medical care. Manufacturers of syringes and needles can boost revenues by providing top-notch medical equipment to clinics and hospitals that treat patients worldwide. This will help in broadening their global reach.
Manufacturers can satisfy the particular demands of pediatric and geriatric patients by developing age-appropriate injectable devices with safety features, ergonomic designs, and possibilities for dose modification. This can address an unmet demand and improve patient satisfaction and compliance.
The GCC region is witnessing a rise in biological medicines and the prevalence of chronic illnesses. This presents a potential for manufacturers to deliver specialty syringes and needles designed specifically for the administration of more complex pharmaceuticals.

Competitive Landscape

The syringe and needle industry in the GCC region is extremely competitive, with numerous established global businesses competing alongside regional players. Becton, Dickinson, and Company (BD) is an industry leader, relying on its large product range, robust distribution network, and sterling reputation to stay ahead.

Terumo Corporation, Smiths Medical, and Nipro Corporation constitute the top rivals contending for industry share, with each offering a varied selection of syringes and needles tailored to different medical specializations and uses.

Recent Developments

In February 2023, Venus Remedies Ltd., a leading research-based pharmaceutical company, received a good manufacturing practices (GMP) certification from Saudi Arabia.
In September 2022, BD (Becton, Dickinson, and Company), a renowned worldwide medical technology firm, launched a next-generation glass pre-fillable syringe (PFS) that sets a new benchmark for vaccine PFS performance, with new and tighter criteria for processability, cosmetics, contamination, and integrity.

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Key Players in the Syringe and Needle Industry in GCC

Becton, Dickinson and Company (BD)
Terumo Corporation
Smiths Medical
Nipro Corporation
B. Braun Melsungen AG
Cardinal Health, Inc.
Gerresheimer AG
Hindustan Syringes & Medical Devices Ltd. (HMD)
Medtronic plc
Fresenius SE & Co. KGaA

Key Segments

By Product:

Oral
Hypodermic
- Standard
- Special Purpose
  - Insulin
  - Tuberculin
  - Other Special Purpose
  - Angiographic

By Usability:

Disposable
Reusable

By Material:

Glass
Polymer

By End User:

Hospital
Blood Collection Center
Diabetic Care Center
Veterinary Care Center
Others

By Country:

Kingdom of Saudi Arabia (KSA)
United Arab Emirates (UAE)
Qatar
Bahrain
Oman
Kuwait

Author By:

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

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Website: https://www.futuremarketinsights.com
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FMI Prediction Affirms Americas Steel Pipes Market Share Estimated to Exceed USD 35.3 Million by 2033, Growing Steadily at 3.6% CAGR

The Americas steel pipes market is poised for robust growth, with a projected market value reaching USD 24.8 million by 2023 and further expanding to USD 35.3 million by 2033. This anticipated growth trajectory is underpinned by a Compound Annual Growth Rate (CAGR) of 3.6%, signifying sustained positive momentum throughout the forecast period.

The steel pipes market in the Americas is expected to grow steadily but moderately, with growth in niche sectors such as mining and automotive production. The Americas steel pipes market is likely to reflect steady. However, the industry is likely to face challenges in terms of substitute pipe materials such as plastic and iron, as well as high production and installation costs for steel fixtures.

The oil and gas industry applications are anticipated to be the main source of income, especially with the discovery of unconventional sources and techniques like shale and fracking, according to analysts from FMI.

Recent Companies Developments:

ArcelorMittal: ArcelorMittal has taken strategic steps to optimize its operations, divesting its United States assets to Cleveland Cliffs Inc. for a valuation nearing 1.4 billion. This move reflects the ongoing trend among steel manufacturers to streamline operations and strengthen market presence through consolidation. Additionally, the company is poised to enhance its capabilities with the unveiling of a new electric arc furnace facility at its Calvert, Alabama operations, featuring state-of-the-art hot dip galvanizing lines.

Tenaris: In response to market dynamics, Tenaris has announced plans to rationalize operations at its melt facilities across the United States due to the significant downturn in oil prices. This decision has resulted in layoffs and equipment idling, including facilities in Koppel and Ambridge. Concurrently, Tenaris is diversifying its portfolio with the acquisition of IPSCO Tubulars, a prominent pipe manufacturer based in Houston, in a deal valued at approximately 1.1 billion.

Gerdau S/A: Gerdau S/A has embarked on a trajectory of expansion and optimization, signaling the reopening of operations at its Ouro Branco plant in South Eastern Brazil. This move is anticipated to augment the company’s production capacity by 1.5 million tons annually. Additionally, Gerdau S/A has forged a strategic partnership with SKF to enhance productivity and minimize downtime across its Brazilian facilities. However, the company is also navigating challenges, with plans for substantial downsizing at its Saint Paul plant due to the idling of operations.

Who is Winning?

In its report, Future Market Insights has given detailed analysis on the many strategies being used by manufacturers in the Americas steel pipes market. Key players are emphasizing on investments towards capacity expansions and strategic acquisitions and divestments in line with changing demand in the region.

Some of the leading players in the industry include Arcelor Mittal, Tenaris, Gerdau S/A, American Cast Iron Pipe Company, Baosteel Group Corporation, Evraz plc, Nippon & Sumitomo Steel, and JFE Holdings Corporation among others.

Key Companies:

American Cast Iron Pipe Company
Baosteel Group Corporation
Evraz Plc
Nippon Steel & Sumitomo Metal Corporation
JFE Holdings Corporation
Hyundai Steel Company
TMK Group
United States Steel
Tata Iron and Steel
VALLOUREC
Nucor Corporation
Zekelman Industries

Key Segments Covered:

Material type:

Carbon Steel
Alloy Steel
Stainless Steel

End Use:

Construction

Residential & Commercial
Civic Infrastructure

Mining
Municipal Water Supply and Treatment Utilities
Industrial

Automotive
Chemicals & Petrochemicals
Oil & Gas Pipelines
Power Generation
Others (textile, pharmaceuticals)

Design:

Seamless
Welded

Country:

Brazil
Argentina
Mexico
Canada
U.S

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Author:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us: