Market Research Blog

The AB Testing Software market revenues were estimated at US$ 1.1 Bn in 2022 and is anticipated to grow at a CAGR of 11.6% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 3.4 Bn.

AB testing also known as bucket testing is a technique for comparing two versions of a website or app. The programmer or coder can use AB testing to see which version works better and generate results from it. In AB testing, a statistical analysis is utilized to evaluate which software or website performs better, allowing the programmer to make necessary improvements. Individuals, teams, and corporations were able to improve the user experience based on the results provided by AB testing program owing to the meticulous modifications allowed by the platform.

The AB testing software also aids in increasing conversion rates and adding value to the company. The benefits that AB testing software provides to corporations and software organizations have increased its usage, causing the AB Testing Software Market to heat up.

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The usage of AB Testing software has also reduced the entire cost of building a website or marketing campaigns, propelling the market for AB Testing software. This AB testing software is highly useful for B2B technology companies who want to improve the quality of sales leads and the amount of sales from their campaign landing pages. This organization can use AB testing software to compare the sites and make changes to elements like the headline, visual images, fields, and general page layout that appear inefficient.

Furthermore, this type of testing allows programmers or designers to pinpoint modifications that may have a beneficial or bad influence on visitors. This enables them to combine all of the beneficial adjustments and improve the user experience, as well as make critical modifications to marketing campaigns, allowing software programmers or designers to employ AB Testing software.

Competitive Landscape

Some of the key players operating in AB Testing Software Market include Optimizely, VWO, AB Tasty, Instapage, Dynamic Yield, Adobe, Freshmarketer, Unbounce, Monetate, and Kameleoon.

Some of the key developments in AB Testing Software Market include:

• In January 2019, Instapage, a marketing post-click optimization company, launched its personalization solution, making it the first and only MarTech company to provide automatic and scalable personalization exclusively for advertising and marketing post-click on landing pages. Without a developer, entrepreneurs can now construct matching landing pages for each ad and target market in minutes.
• In July 2020, AB Tasty announced a series C round of fundraising, to redefine how companies give the delightful brand and product narrative. With over 900 global customers and 10 locations in North America, Europe, and Asia Pacific, AB Tasty now generates 60% of its business outside of France.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the AB Testing Software market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Type (Web Based, Mobile Based, and Full Stack), and Application (SMEs and Large Enterprises), across five regions (North America, Latin America, Europe, APAC and Middle East & Africa).

Market Segments Covered in AB Testing Software Market Analysis

By Type:

• Web Based
• Mobile Based
• Full Stack

By Application:

• SME’s
• Large Enterprises

By Region:

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

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

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The global Corporate Wellness Software market was valued at US$ 538 Mn in 2022 and is expected to reach US$ 1 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. The Corporate Wellness Software Market is Projected to Register a CAGR of 6.4% CAGR from 2022 to 2032. As per the findings, revenue through large enterprises grew at a CAGR of 6.8% during 2015 – 2021.

Corporate wellness is no longer a fringe benefit provided by a small number of businesses. According to research sponsored by Rand Corp. and the US Department of Health & Human Services. Around 80% of companies with more than 50 or more employees offer a corporate wellness benefit. These bonuses are not only for employees. Corporate wellness initiatives can help companies cut down on absenteeism while also increasing productivity and employee happiness.

They can also lead to a favorable impact on a company’s bottom line, such as medical costs. For example, at the Los Alamos National Laboratory, fitness programs have decreased yearly healthcare premium increments to 2.5%, significantly lower than the national average of 7%.

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Encouragement of employees to live a healthy life has become relatively easy as technologies such as wearable devices and on-site sports become more popular. However, simply providing options to staff is not enough for a business health program to flourish. Before a program can be executed, it must first overcome a number of obstacles. However, the potential benefits for both organizations and people may make these obstacles worthwhile to overcome.

Competitive Analysis

Companies that provide employee wellness software are expanding their investment in research and development, which would be projected to boost demand for the software in the coming years. Some of the major companies like ComPsych, Wellness Corporate Solutions, Virgin Pulse, Provant Health Solutions, EXOS, Marino Wellness, Privia Health, Vitality Group, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, SOL Wellness, Well Nation, ADURO, INC., Beacon Health Options, Fitbit, Inc. are featured in the report.

Some of recent developments for Corporate Wellness Software Market are:

• In November 2021, Virgin Pulse announced the acquisition of Welltok. After Welltok’s acquisition, its activation engine and Virgin Pulse’s daily involvement platform will help the firms’ combined 4,100 worldwide employer, health plan, and health system clients achieve improved health outcomes and lower costs. Integrating Welltok’customization and analytics abilities into Homebase for Health will provide clients and their respective demographics with substantially more value.
• In October 2021, Privia Health Group, Inc., a physician integration company announced that it has expanded its presence in Texas in collaboration with Abilene Diagnostic Clinic, a self-governing, multi-specialty group practice with more than 30 providers and five care center locations. Privia Health Group, Inc. has expanded its footprint in Texas by partnering with Abilene Diagnostic Clinic.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Corporate Wellness Software Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Global Corporate Wellness Software Market across five regions (North America, Asia Pacific, Europe, Middle East & Africa and Latin America).

Market Segments Covered in Corporate Wellness Software Market Analysis

By Deployment:

• On Premises
• Cloud-based

By Application:

• Large Companies
• Small and Medium Sized Companies

By Region:

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

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About Us

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

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The industrial cybersecurity market is expected to record a CAGR of 7.7% during the conjecture time frame (2022 – 2032). The worldwide industrial cybersecurity market is estimated to be esteemed at US$ 20.7 Bn in 2022 and is projected to arrive at US$ 43.5 Bn by 2032. according to the excellent report from FMI. the factors that are fueling the power industry’s increased demand for industrial cyber security products.

The pandemic caused chaos in the global economy at the start of 2020, causing unprecedented chaos and disruption for organizations and individuals all across the world. The pandemic has resulted in the introduction of a work-from-home option for most employees, posing operational issues for enterprises.

The Internet of Things has made it much easier to do difficult activities and has eased the lives of millions of people. It provides a new approach for contemporary companies to handle, store, and process data in the cloud and data centers.

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Customers, businesses, and communication service providers all interact differently because too smart gadgets. They’ve made it possible to automate and adapt many company procedures. The rising use of smartphones throughout the world has resulted in an increase in the number of networked devices that run on many platforms.

Owners of industrial companies and their personnel underestimate the present and impending possible risks in the industrial control systems environment due to the relative rarity of targeted assaults against automation systems and the excessive dependence on safety measures.

Synthetic assaults are guarded against by industrial control systems. As a result, security goods and software solutions are developed without addressing new risks or the nature of future assaults, as well as without a full analysis and examination of the current threat environment. As a result, real-world dangers are undervalued.

Modern security technologies are used in the industrial sector to prevent cyber-attacks, but attackers create new strategies and processes to get around them. Investments in security defence and detection technologies aid in the development of successful defensive plans, yet, one of the most common causes of breaches is human mistake.

These mistakes occur as a result of employees’ lack of understanding, putting the industrial sector at risk. Advanced cyber-attacks vary in design, but they always target specific network weaknesses and exploit them to get access to company networks. Advanced cyber threats have risen dramatically in recent years, becoming a serious security problem for the industrial sector.

Employee training should be regarded as equally important to properly safeguard industrial facilities from cyber-attacks or cyber threats, in addition to adopting appropriate hardware and software-based security technologies.

North America is expected to have a significant industrial cyber security market share. Significant industrial cyber security market players are mostly responsible for the region’s progress. The North American industrial cyber security market is predicted to rise as key companies increase their investment to extend their global footprint.

During the anticipated period, Asia Pacific is expected to increase at the fastest rate. The adoption of cloud-based security software is a priority for major players. In the manufacturing industry, these nations have a large number of SMEs and startups.

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KEY TAKEAWAYS:

• The hardware solutions from the industrial cyber security market are expected to grow at the fastest CAGR of 7.1% in the component sector.
• Discrete industry is expected to grow at a high rate in the end-use sector of the industrial cyber security market, with a CAGR of 7.6%.
• The market size for industrial cyber security in the United States is expected to reach US$ 9.7 Billion by 2032, growing at a CAGR of 7.3% during the research period.
• UK is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market by 2032, with a CAGR of 7.7% during the research period.
• China’s industrial cyber security market is expected to be worth US$ 3.2 Billion by 2032, with a CAGR of 9.1% over the forecast period.
• Japan is expected to have a market size for the industrial cyber security of US$ 2 Billion by 2032, with a CAGR of 9.2% during the research period.
• By 2032, India is expected to reach a market size of US$ 2.6 Billion in the industrial cyber security market, with a CAGR of 9.3% during the research period.

COMPETITIVE LANDSCAPE:

Major players such as Schneider Electric SE, Rockwell Automation Inc., CyberArk Software Ltd., ABB Ltd., Bayshore Networks Inc. are among the industrial cyber security market’s top participants.

Several business strategies are being implemented by these companies in order to boost their global expansion and deliver sophisticated security services.

• Exablaze, an Australian developer and producer of innovative network devices, was acquired by Cisco System, Inc. in February 2020. This acquisition will help the organisations improve their security network performance.
• Broadcom Inc. will introduce BizOps, an improved decision-making platform for sectors, in June 2020. This approach would aid businesses in speeding up decision-making across a variety of commercial and technological fields.
• CyberArk Software Ltd. introduced CyberArk, Cloud Entitlements Manager, an artificial intelligence-based solution, in November 2020. The solution was created to improve cloud infrastructure security layers across businesses.

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Key Segments

By Component:

• Hardware Solutions
• Software Solutions
• Services

By Security Layer:

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Wireless Security
• Others

By End-User Industry:

• Process
  • Oil and Gas
  • Chemical
  • Food and Beverages
  • Energy and Power
  • Other (Water, etc.)
• Discrete
  • Automotive
  • Electronics
  • Heavy Manufacturing
  • Packaging
  • Others (Aerospace and Defense, etc.)

By Region:

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

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About Us

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

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According to Future Market Insights (FMI), the global clinical data analytics is anticipated to grow at a CAGR of 25.7% during the forecast period, totaling a market valuation of US$ 15.1 Bn in 2022 and US$ 150.6 Bn by the end of 2032.

Clinical data analytics plays a prominent role in healthcare institutions by reducing medication errors, improving population health, and saving costs. It makes use of real time medical data to generate insights, make decisions, increase revenues, save costs, and eventually improve patient care.

Healthcare organizations and practitioners can obtain thorough models for reducing costs and patient risk through the application of predictive and prescriptive analytics. In addition to the advantages for patients, health data analytics can lower fraud and stop equipment malfunctions.

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Any information about a patient’s or population’s health is considered to be health information. This data is acquired from various health information systems (HIS) and other technical tools used by government agencies, insurance providers, and healthcare professionals. In recent years, the process of gathering data in healthcare settings has been streamlined.

In addition to assisting in bettering daily operations and patient care, the clinical data analytics may now be used more effectively in predictive modelling. Providers can utilize datasets to track trends and make forecasts rather than just looking at historical or current data.

Organizations can now take preventative action and monitor the results. The cost of healthcare is high and the overall cost of those expenses just keeps rising. Such factors are expected to fuel the demand for clinical data analytics solutions.

Key Takeaways: Clinical Data Analytics Market

• By solution, the services segment is expected to grow at a CAGR of 6% during the forecast period of 2022-2032.
• Based on application, the clinical decision support segment accounted for 3% share in the clinical data analytics market.
• By end users, the adoption of clinical data analytics solutions from payers is anticipated to grow at a CAGR of 3% between 2022 & 2032.
• North America is expected to lead the market while South Asia & Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.
• Sales in India are anticipated to grow a 6% CAGR during the forecast period.
• The U.S. accounted for around 6% share of the North America clinical analytics market in 2021.

“Clinical data analytics assist doctors in better understanding the health status of the people they are treating as well as in providing better care for their medical issues. Depending on the data involved, the information’s users, or the actions taken at the discretion of the decision-maker, the technology may change. This is expected to fuel the demand for clinical data analytics solution” says FMI analyst.” 

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Rise in Adoption of Big data in Healthcare Organizations

Big Data Analytics (BDA) is receiving a lot of attention as a result of its creative influence on strategic development and decision-making in the healthcare industry. Due to the employment of cutting-edge technology, the volume of data pertaining to healthcare organizations has increased significantly in recent years and is anticipated to do so in the coming years.

Pay-for-performance is a new factor in the contemporary healthcare environment, and healthcare reimbursement mechanisms are also changing. Big data includes features like variety, speed, and veracity. The vast amount of patient-related medical data currently available can be used with BDA approaches to analyze results and enhance the healthcare industry.

Who is Winning?

Leading clinical data analytics solution providers are adopting strategies such as new product launches, mergers, acquisition, partnerships, and collaborations to expand their customer base as well as to improve their revenue share.

McKesson Corporation, Optum, Inc., IBM, Oracle, SAS Institute, Inc., IQVIA, Verisk Analytics, Inc., Elsevier, Medeanalytics, Inc., Truven Health Analytics, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, Medical Information Technology Inc., Qsi Management LLC, and CareCloud Corporation are some of the ley players operating in clinical data analytics space.

More Valuable Insights on Clinical Data Analytics Market

FMI’s report on the clinical data analytics industry research is segmented into four major sections – by solution (platform (cloud-based, and on-premise) and services (consulting services, integration and implementation services, and support and maintenance services)), application (clinical decision support, precision health, quality improvement and clinical benchmarking and regulatory reporting and compliance), end users (payers, providers, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the clinical data analytics demand outlook.

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Clinical Data Analytics Outlook by Category

By Solution:

• Clinical Data Analytics Platform
  • Cloud-Based
  • On-Premise
• Services
  • Consulting Services
  • Integration and Implementation Services
  • Support and Maintenance Services

By Application:

• Clinical Decision Support
• Precision Health
• Quality Improvement and Clinical Benchmarking
• Regulatory Reporting and Compliance
• Others

By End Users:

• Payers
• Providers
• Others

By Region:

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

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About Us

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

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Future Market Insights, a market research and competitive intelligence provider, analyses that demand for Content Experience Platforms is expected to witness a steady growth backed by the steady growth in demand of Media and Publishing which constitutes the largest market of the Content Analytic Software industry. According to the study, the global Content Analytic Software market was valued at US$ 4.5 Bn in 2021, and it is also expected to expand at a CAGR of 9.7% over the assessment period of 2022-2032.

In 2022, the market is expected to be worth US$4.91 billion. By the year 2032, it is predicted that the market for global content experience platforms will reach a high of US$ 12.4 billion.

The Content Experience Platforms market in emerging nations is rapidly expanding owing to its capacity to assist customers, learn and know their immediate needs. Along with this, lowering buyer attrition, rising cloud-based solution rollout, and growing interest for big data analytics are propelling market growth.

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One of the key factors responsible for the growth of the digital experience platform market is the steadily increasing implementation of cloud-based solutions across numerous sectors. Organizations’ proposals to deliver personalized, improved, and assimilated user engagement and participation throughout diverse marketing channels, as well as the growing demand for platforms to comprehend clients’ basic needs, are driving future growth.

The growing usage of Digital Experience Platforms (DXPs) by marketing professionals for the purpose of trying to reach clients across numerous electronic devices and trying to promote cross-selling and upselling, as well as huge demand due to precise data collected through DXPs used for marketing and promotions, are impacting the market.

Furthermore, the attempt to reduce bounce rate, growing adoption of big data analytics, urban development and automation, and preferred outcome for omnichannel strategy have a positive impact on the digital experience platform market. Moreover, the surge for highly personalized experiences for every consumer in real-time, as well as the availability of technologies like AI, data analytics, and cloud, provide lucrative opportunities to market participants.

In 2021, North America held the largest share in the global Content Experience Platforms market. The companies in the region have been focusing on customer loyalty and retention. Alongside, the pervasiveness of digital and conventional retail industry channels, North America leads the digital experience platform market. In the region, the tourism and leisure sector is rapidly adopting digital experience platforms. The growth of digital experience platform technology will persist to rise as a result of the client-centric culture.

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More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Content Analytic Software market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by Deployment (Cloud-Based, On-Premises), Application (BFSI, Media and Publishing, Telecom and IT, Retail, Others) across key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Market Segments Covered in Content Experience Platforms Market Analysis

By Deployment:

• Cloud-Based
• On-Premises

By Application:

• BFSI
• Media and Publishing
• Telecom and IT
• Retail
• Others

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

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About Us

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

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The carbon steel market size in 2022 has reached close to US$ 833 Bn. According to a recent study by Future Market Insights (FMI), the carbon steel market is forecast to rise at a CAGR of 5.1% between 2022 and 2030. The report is intended to offer an executive-level blueprint of the market to its stakeholders.

It studies the growth trajectory and gauges investment feasibility across key segments. According to the report, the carbon steel market is operating in an environment where lot of waste is generated and a huge amount of energy is consumed.

The steel industry is efficiently reducing the waste through waste recovery technologies and through recycling, which has been aiding environmental causes. The industry has adopted efficient fabrication and manufacturing process, which is reducing the energy consumption.

Carbon Steel manufacturers are no longer overheating or overcooling the rolling mills allowing them to manufacture products more efficiently by consuming less energy. Steps taken towards cautious manufacturing had bode well for the market.

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However, despite their efforts, the ongoing COVID-19 crisis has caused deceleration in the industrial production and disruptions in supply chain for 3 quarters of 2022.  Growth recovery in the upcoming years will be backed by the increasing demand from downstream industries such as automotive, construction, and heavy engineering & equipment will drive the carbon steel market.

Key Takeaways of Global Carbon Steel Market Study

• Globally, the demand for energy efficient and low carbon neutral buildings is increasing. Carbon steel is an affordable and safer solution, which provides high strength, versatility, durability and full recyclability throughout the entire life cycle of buildings
• Carbon Steel manufacturers are improving its blast furnace technologies by taking full advantage of the converter slag of steelmaking by-products and improving the permeability of the blast furnace. All these factors have led to decrease in the steel manufacturing cost
• Construction industry is forecast to remain dominant end user through the forecast period. The global construction growth is expected to be 3.9% pa by 2030, as per a study by Oxford Economics, which will aid the overall expansion of the market
• 25% increase on steel tariffs derivative steel has increased the USA’s domestic steel production. Manufacturers are therefore on the process of implementing and enhancing production capability so as to meet the end-user’s increasing demand
• The global carbon steel market is expected to witness a plunge in FY2022, and is expected to recover sharply in the subsequent year as the industries across regional hubs have started resumption and augmentation of production and supply operations

 “Carbon steel is used by a wide gamut of industries, which has been aiding expansion of the market despite oversupply recorded in the steel industry. Despite nose-dive growth during ongoing pandemic, the market is forecast to recover especially as leading companies move towards consolidation keeping expansion in their mind,” says FMI analyst.

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Carbon Steel Market By Category

By Grade :

• Low-Carbon steel
• Medium-Carbon Steel
• High-Carbon Steel
• Ultra High-Carbon Steel

By Form :

• Hot Rolled Steel
• Cold Rolled Steel

By Application :

• Basic and Perforated Sheets
• Angle
• Channels
• Beams
• Normal Plates and Floor Plate
• Pipes
• Tubes
• Bars
• Struts
• Grating

By End Use :

• Automotive
• Construction
• Railways
• Shipbuilding & Marine
• Aerospace
• Energy
• Heavy Engineering and Equipment
• Consumer Appliances
• Cutting Tools

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Who is Winning?

The carbon steel market is fairly consolidated, with manufacturing capacities majorly concentrated among tier-I manufacturers. While local tier-2 and tier-3 manufacturers present a stiff competition, tier-1 players leverage their distribution network and brand image in dominating the market space.

Some of the key players in the market are Nucor Corporation, ArcelorMittal, United States Steel Corporation, Baosteel Group, AK Steel Holding Corporation, EVRAZ, Hesteel Group, POSCO, Thyssenkrupp AG, JFE Holdings Corporation, etc amongst many others amongst many others.

Market players have been focusing on strategic expansion and acquisition of manufacturing facilities. This strategy would help companies to expand into new markets to withstand in competitive environment.

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High Carbon Bearing Steel Market: The global high carbon bearing steel market size reached a valuation of around US$ 139.6 Bn in 2022. The total sales of high carbon bearing steel are slated to grow at a robust CAGR of around 6.9% during the forecast period from 2022 to 2032, totaling nearly US$ 269 Bn by 2032.

Medium Carbon Steel Market: Medium carbon steel which contains 0.3% to 0.65% of carbon is finding essential applications in a number of end use industries including railway, construction, oil, and automotive industries owing to its properties of enhanced ductility, density, and heat treatment capabilities.

Electrical Steel Market: According to a Future Market Insights (FMI) report, electrical steel sales will grow at a 6.5% CAGR between 2022 and 2032. According to the report, the global electrical steel industry would be worth US$ 70.5 Billion by 2032.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.

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Having analyzed and scrutinized all the aforementioned facets in its new market study, Future Market Insights (FMI) projects that the global WPC floorings market will grow in value at a healthy CAGR of 7.0% between 2020 and 2030.

Over the years, the demand for wood-plastic composites (WPC) has significantly increased on the back of the high need for environment-friendly and low-cost raw materials in the residential sector. Likewise, increased spending on infrastructural developments in both the residential and commercial sectors is expected to give a major boost to the market during the forecast period.

There are several benefits associated with WPC floorings, such as low melting temperature and high stiffness as compared to conventional wood alternatives, which give it an edge in the flooring applications over other materials. Furthermore, WPC floorings are visually appealing and are relatively easier to install and maintain as compared to conventional flooring types.

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Moreover, their resistance to humidity has also been crucial in cementing it as a fitting substitute for wood floorings or laminates. As WPC floorings are derived from waste materials from the wood industry and recycled plastics, they are considered sustainable and eco-friendly, gaining traction among consumers with high awareness.

On these lines, backed by its low cost, WPC floorings are gradually replacing other floorings such as traditional wood floorings and luxury vinyl tiles (LVT) flooring. Besides, WPC floorings are easily shaped using conventional tools, minimizing the need for novel equipment, and reducing production cost.

On the other hand, increasing focus on research & development of products to improve their temperature resistance and strength is also expected to positively influence the growth of the market in the years to come.

Some of the key takeaways from the report include:

• The global WPC floorings market is projected to surge past valuation of US$ 3,643 Mn by the end of 2030
• By thickness, 5.5 mm, 6.5 mm, and 8 mm WPC floorings are poised to cumulatively account for more than a 3/4th of the overall market, with the former being the most sought flooring type
• On the basis of the end-use sector, adoption in the commercial sector is anticipated to drive the majority of revenue, while the retail outlet segment is expected to account for 1/3rd of market value
• Europe is forecasted to remain the largest regional market through the assessment period, accounting for a share little below one-quarter, owing to the development of the construction industry
• East Asia and North America are poised to collectively account for over 2/5th of market value, ascribed to the growing trend of smart cities, and increasing emphasis on developing commercial infrastructure

“Market players are focusing on offering customizable products that suit consumer requirements such as color, stiffness, and thickness, among other parameters, to form a loyal consumer base, and are also directing their efforts to offer features such as biodegradability, weather compatibility, etc.” remarks FMI report.

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COVID-19 Impact on WPC Floorings Market

The outbreak of COVID-19, which swiftly metamorphosed into a pandemic of unprecedented proportions has led to the curt termination of construction activities across the world. Akin to numerous applications reliant on infrastructural development, the demand for WPC floorings has beheld a steep decline beginning in the first quarter of 2020.

On these lines, lack of workforce, supply chain disruptions, and unavailability of raw materials, among other perils of the pandemic are adversely impacting the growth of the market. On a positive note, a gradual return to normalcy in East Asia beginning from the third quarter of 2020, is likely to mitigate long term consequences to an extent.

Who is Winning?

Market players are focusing on upscaling production and expanding sales facilities to cater to the growing demand and offer enhanced consumer experience. Moreover, widening the product portfolio has also been identified as a crucial growth strategy adopted by market players to strengthen their foothold.

On these lines:

• Pro-Tek, a UK-based manufacturer, offers five different types of WPC floorings with a wide range of properties, and all the designs are phthalate-free derived from 100% recyclable materials.
• Oakia, a China-based player, specializes in manufacturing and installing outdoor flooring and decking.

FMI’s report includes profiles of some of the most prominent names in the market including Armstrong Flooring (AFI Licensing LLC), Mannington Mills, Pro Tek, Parterre Flooring, Shanghai SevenTrust Company Co., Ltd., Oakio, SPECTRA CONTRACT FLOORING, Coretec, Tecnodeck, WPC – WOODPLASTIC a. s., Leben India Private Limited, Novowood, Taizhou Huali New Materials Co., Ltd., and Nanjing Xuhua Sundi New Building Materials Co., Ltd, among others.

WPC Floorings Market By Category

By Thickness, the WPC Floorings market is segmented as:

• 4 mm
• 5 mm
• 5.5 mm
• 6.5 mm
• 8 mm

By End Use Sector, the WPC Floorings market is segmented as:

• Commercial Buildings
• Residential Buildings
• Retail Outlets

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To Know More About WPC Floorings Market

A new market research report published by Future Market Insights (FMI) on the global WPC floorings market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030.

The report examines the market through four different segments – thickness, end-use, and region. The report also provides an extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.

Explore FMI’s Extensive ongoing Coverage on Chemicals & Materials Domain

Textile Flooring Market: The global textile flooring market valuation is estimated to exceed US$ 190.26 Bn by the end of 2022.

Vinyl Flooring Market: Sales in the global vinyl flooring market are slated to top US$ 27,975.30 Mn in 2022, projects Future Market Insights (FMI). Expanding at a healthy 6.8% CAGR, the market size is projected to total US$ 41,578.70 Mn by 2028.

Glass Fiber Reinforced Plastic (GFRP) Composites Market: The glass fiber reinforced plastic market is growing continuously and is predicted to increase at a moderate CAGR of 6.6% during 2022-2032.

About FMI

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

Contact Us

Unit No: 1602-006
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Plot No: JLT-PH2-X2A
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For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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